BusinessMirror January 12, 2022 by BusinessMirror

11-mo trade gap widens 71.2% to $37.9B

HE country’s trade performance would likely take a hit from the ongoing global shipping problems as well as the spread of the omicron variant, local economists said Tuesday. T he Ph i l i p p i ne St at i s t i c s Authority (PSA) reported that exports grew 6.6 percent while imports grew 36.8 percent in November 2021. In the January to November period, ex ports growth averaged 15.2 percent and imports, 30.4 percent. The countr y’s trade deficit widened to $4.7 billion in November, leading to a cumulative trade deficit of $37.92 billion in the January to November period. The deficit surged 119.5 percent

in November and 71.2 percent in the 11-month period. “Our external trade may be affected through potentially lower domestic demand amongst our biggest trading partners due to specific people movement restrictions to shutdown Omicron impact,” UnionBank Chief Economist Ruben Carlo O. Asuncion told the BusinessMirror. “With supply chain issues, we may not have seen the last of this particular challenge yet, even as the pandemic rages on with the Omicron variant leading the way,” he added. Asuncion also said they expected the country’s external trade performance since their

trade deficit forecast was at $4.3 billion for November. He added that their initial exports growth forecast was pegged at 8.6 percent and imports performance was estimated at 33.7 percent. The UnionBank economist said the reopening of the economy in recent months was the primary driver of the growth in the country’s imports and the underperformance of exports relative to imports growth. Asuncion said this can still be rooted in global demand challenges, including supply chains that have yet to return to prepandemic normal. “The gap shown in November

was extreme. That will not likely happen. But we should expect the BOT [Balance of Trade] deficit will still hit a new record,” University of Asia and the Pacific (UA&P) economist Victor A. Abola also said in an e-mail. Ateneo Center for Research and Development (ACERD) Associate Director Ser Percival K. PeñaReyes told the BusinessMirror that the current trend of the trade deficit will likely continue. Peña-Reyes said global demand was “still pretty much subdued” and this will affect the country’s external trade performance, primarily exports. He added that the See “Trade,” A2

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THINK TANK STILL SEES PHL RECOVERY IN ‘22 AMID OMICRON, POLLS By Cai U. Ordinario @caiordinario

HE Philippine economy is still poised to recover this year despite the Omicron variant of Covid-19 and the uncertainties brought by the change in administration, according to the First Metro Investment Corp. (FMIC)-University of Asia and the Pacific (UA&P) Capital Markets Research. In a briefing on Tuesday, UA&P economist Victor A. Abola said GDP growth this year is expected to reach 6 to 7 percent. Full-year GDP growth in 2021, which will be officially released toward the

AIR travelers fill the Ninoy Aquino International Airport booking area as a result of the cancellation of domestic and international flights. The Philippine Airlines on Monday announced it would cancel several flights due to staff shortage, as at least 10 percent of its cabin crew frontline roster either tested positive or are in precautionary quarantine due to exposure to Covid-positive patients, PAL spokesman Cielo Villaluna said. NONIE REYES

By Tyrone Jasper C. Piad @Tyronepiad

URTHER investments in warehousing facilities are expected this year to address the supply chain constraints fueled mostly by port congestion amid the pandemic, according to Oxford Economics. See “Supply,” A2

end of the month, is expected to average 5.1 percent. The Philippines is also expected to retain its credit rating; the government still has some fiscal and monetary space; and inflation is expected to slow with oil forecasted to hit $60 per barrel toward the end of 2022. “The [elections] would be the bigger risk [for the economy compared to rising Covid-19 cases]. I mentioned that the elections have to be credible, more than anything. It doesn’t matter who is elected. It’s more whether the votes are counted properly and that’s See “Recovery,” A2

NCR health-care utilization rate key to AL 4 By Samuel P. Medenilla

@sam_medenilla

ALACAÑANG said the National Capital Region (NCR) is unlikely to be placed under Alert Level 4 anytime soon as its health-care utilization rate is still below 70 percent. Acting presidential spokesman Karlo B. Nograles issued

the statement when asked if the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) is now considering further raising the Alert Level 3 amid the surge in Covid-19 cases in the region. The concurrent Cabinet Secretary noted that while NCR has already met the threshold to be raised to Alert Level 4 in terms of

two-week growth rate and Average Daily Attack Rate, it has not reached the critical health-care utilization rate. “The total bed utilization has yet to reach 71 percent and up, and that is the reason why we are in Alert Level 3,” Nograles said. “We are closely monitoring the total utilization. If it reaches 71 percent to 84 percent, this is the

time we can say Metro Manila must be placed under Alert Level 4,” he added. On Tuesday, the Department of Health (DOH) reported that intensive care unit (ICU) beds utilization in NCR was at 54 percent. The utilization of isolation beds is at 60 percent, while for ward

PESO exchange rates n US 51.3470 n japan 0.4457 n UK 69.7190 n HK 6.5869 n CHINA 8.0521 n singapore 37.8609 n australia 36.8055 n EU 58.1659 n SAUDI arabia 13.6798

See “Al 4,” A2

Source: BSP (11 January 2022)

BusinessMirror SC junks graft raps vs Cebu mayor, others in 2004 fertilizer fund scam A2

By Joel R. San Juan

www.businessmirror.com.ph

Wednesday, January 12, 2022

@jrsanjuan1573

HE Supreme Court has granted the petition filed by Mayor Edgar Rama of Poro, Cebu and several others seeking the dismissal of the graft and malversation charges filed against them for their alleged involvement in the 2004 fertilizer fund scam. In an eight-page resolution, the Court’s First Division annulled and set aside the January 21, 2021 and February 17, 2021 issued by the Sandiganbayan Sixth Division denying Rama and his co-defendants’ petition to dismiss the case against them. Rama and his co-accused—former municipal councilors William Surbano,

Supply. . .

Continued from A1

The UK-based think tank, in a research briefing, noted that the shift to online purchases given the movement restrictions in the pandemic has resulted in maximizing the capacities of warehouses in several countries. As a result, Oxford Economics said there have been warehouse shortages, signaling the need for expansion amid the growing e-commerce industry. “We anticipate increased warehouse investment will help reduce port congestion and boost supply chain resilience,” it said. “Warehouse automation, robotics, and the use of smart technologies, such as blockchain, are also expected to help drive growth and productivity in the sector over the long term,” it added. Such is deemed necessary as transportation bottlenecks are likely to remain this year, the report said, noting

Gorgonia Gonzales, Sergio Zurita and Nilo Gorgonio—insisted that the cases against them must be dismissed based on a Supreme Court decision issued on July 28, 2020 that junked the similar charges filed against their two other co-respondents—North Cotabato Gov. Nancy Catamco and her former husband Pompey Perez—due to violation by the Office of the Ombudsman of their Constitutional right to a speedy disposition of the cases. The anti-graft court said the Court clarified that the dismissal order only pertained to the cases filed against Catamco and Perez, and not to the other respondents. However, the SC held that the July 28, 2020 of the Court dismissing the that port and shipping capacity, along with shortage in warehouse space, labor and truck trailers, are contributing to supply-chain challenges. “Demand-side pressures for warehousing facilities are likely to persist in the near-term, but as consumer spending continues to rotate away from goods to services, these pressures will ease,” Oxford Economics said. However, the think tank warned that the Covid-19 Omicron variant may delay the said shift in consumer spending.

Costlier freight

The report, meanwhile, noted that freight rates have become more expensive given the shipping bottlenecks that have been affecting operations. “Container shipping rates are currently around nine times their level relative to June 2020, the lowest value since the start of the pandemic, highlighting coordination problems,” Oxford Economics said. “Even as ports increase operating hours to

criminal cases against Catamco and Perez for violation of their constitutional right to speedy disposition of cases should also favorably apply to petitioners who were all similarly situated. “It must be noted that petitioners, Catamco, and Perez are all similarly situated being the same accused in the complaints filed before the Ombudsman and Informations filed before the Sandiganbayan,” the SC said. “Whatever inordinate delay experienced by Catamco and Perez during the preliminary investigation before the Ombudsman until the filing of the Informations in the Sandiganbayan were likewise suffered by petitioners. Hence, there is no reason why the discussion ease congestion, absenteeism related to renewed increases in Covid-19 infections may scupper hopes of these pressures abating in the near term.” Recently, Dr. Enrico Basilio, chief of party of the University of the Philippines Public Administration Research and Extension Services Foundation Inc.-Regulatory Reform Support Program for National Development, flagged anew the continuing increase in cargohandling rates. He said that the Philippine Ports Authority (PPA) has been imposing a “systematic increase in rates” almost every year. “And during this pandemic, especially in 2020 and 2021 when trade, both domestic and foreign trade, dropped, rates have been increased, and new rates have actually been introduced,” he said. With this, the Export Development Council earlier proposed to eliminate the share of PPA in cargo-handling revenues to bring down logistics costs amid the shipment constraints.

and ruling arrived at by the Court should not be applied to petitioners,” it added. The cases stemmed from the P5-million fertilizer supply contract that the Poro municipal government awarded to the Perzebros Company owned by Catamco and Perez in April 2004. Somet ime in 20 06, t he Commission on Audit (COA) found alleged over pricing and irregularities in the procurement process of the fertilizers. Consequently, the Office of the Ombudsman launched Task Force Abono (TFA) to specifically conduct a fact-finding investigation into the purported “fertilizer fund scam.” Based on the investigation, on June 21, 2013, the task force filed a complaint dated December 27, 2012 against petitioners, including Perez and Catamco before the Ombudsman. On July 19, 2013, the Ombudsman directed the petitioners, as well as Perez and Catamco to file their respective counter-affidavits. The respondents filed their respective counter-affidavits from September 12, 2014 to May 20, 2015. After more than two years, or on July 17, 2017, the Ombudsman issued its resolution finding probable cause to indict Perez, Catamco, and petitioners for one count of violation of Section 3(e) of Republic Act (RA) No. 3019 and two counts of Malversation under Article 217 of the Revised Penal Code (RPC). The said Resolution was approved on August 1, 2017.

Recovery. . .

Continued from A1

being addressed by a number of civic groups so we can only hope that it really happens that way, that elections would be properly conducted,” Abola, however, said in a briefing. The elections, he said, could cause GDP in the second semester to slow. However, Abola said this is normal during Presidential election years. “Due to heavy election spending and [the scenario] that omicron fades in weeks not months, there will be a slight reduction in GDP growth, but still above 7 percent,” Abola said in an e-mail. Abola said other caveats to the economy’s growth this year also include Covid-19 and the increase in poverty. This, however, can be addressed as the number of jobs continues to increase. He said this is especially observed in the November Labor Force Survey (LFS) which showed the number of employed Filipinos reached 43.6 million, higher than the peak of 43.1 million in October 2019. Abola added that it was also a good sign that the Manufacturing sector has added 337,000 jobs since October 2020. This augurs well for domestic spending and addressing poverty.

Credit rating

Meanwhile, Abola sees a low possibility that the country will see its credit rating downgraded, noting, as basis for such view, the country’s high Gross International Reserves and the fact that its external debt to GDP ratio remains low. Based on a recent analysis of The Economist, the Philippines has one of the lowest external debts in the world. The Economist ranked the Philippines 5th best in the world in terms of external debt. Abola added that the economy is getting a muchneeded boost from industries like the businessprocess outsourcing (BPO), which is branching out. In 2020, the BPO sector posted earnings of around $26.7 billion. Abola said the IT and Business Process Association of the Philippines (ITBPAP) earlier projected that its earnings will increase by 8 percent in 2021. This, Abola said, would amount to projected earnings of $30 billion. He said the BPO sector is no longer limited to call centers but has branched out to include sectors such as HMOs, data and analytics, and insurance. “Last year the Philippine economy rebounded from a deep recession, registering 4.9-percent growth in the first three quarters of the year. This growth momentum likely spilled over in the fourth quarter given further economic reopening and easing mobility restrictions,” First Metro President Jose Patricio Dumlao said in a statement. “Notwithstanding the ongoing pandemic, and Omicron sparking the third wave of infections, we are still optimistic that Philippine growth will further accelerate and get back on its trajectory of 6-7 percent in 2022,” he added. The local think tank also said overseas Filipino worker (OFW) remittances, which grew by 5.3 percent from January to October 2021, will likely grow by at least 4 percent this year. Inflation remains transitory as it is driven by higher crude oil and food prices. It is, however, anticipated to decelerate faster to 3.5-3.7 percent in 2022. With lower inflation rate, the BSP is expected to keep policy rates unchanged. The peso will continue to depreciate slightly due to the strength of the US dollar and balance of trade deficit. It is projected to hover at P51 to P52 vs the US dollar.

AL 4. . .

Continued from A1

beds, it is at 64 percent. A higher Alert Level in NCR will translate to the closure of more “high risk” establishments, which could serve as super spreaders of infections. IATF is set to decide on the new Alert Level in Metro Manila and other parts of the country by Thursday. Other matters to be discussed by the IATF in its next meeting are the new color classification for other countries as well as the health package for those undergoing home isolation.

Trade. . .

Continued from A1

elections will also widen the country’s trade deficit. He said the anticipation of greater economic activity in the country this year, due to the Presidential polls, could also be a factor in shipping delays and higher transportation costs. The ACERD Associate Director said businesses may be stockpiling their inputs and beefing up their inventories in order to ensure that their production continues throughout the year. “Like us, many countries are reeling from omicron. If this tapers down this month, as experts predict, hopefully, the damage to the economy won’t be as extensive. If this drags on beyond this month to the rest of the quarter, of course, growth prospects will be dampened,” he told this newspaper. Action for Economic Reforms Coordinator Filomeno Sta. Ana III told the BusinessMirror that while exports grew, the growth remains “anemic” and that import growth still faces a lot of uncertainty caused by the omicron variant and the 2022 elections. However, Sta. Ana said supply chain problems may be temporary and that the situation is bound to improve— especially if Omicron will not disrupt global supply chains.

External trade

PSA data showed that the fastest growing exports in November were Telecommunications which grew 330.6 percent; Other Coconut Products, 305.3 percent; Christmas Decor, 208.1 percent; Iron Ore Agglomerates, 163.7 percent; and Copra Oil Cake or Meal, 149.2 percent. In November, the deepest contractions in exports were posted by Plywood at 54 percent; Consumer Electronics, 35.2 percent; Unmanufactured Tobacco, 33 percent; Tuna, 26 percent; and Gold, 23.2 percent. The fastest growing imports were: Metalliferous Ores and Metal Scrap with a growth of 1,295.2 percent; Chemical Compounds, 360.2 percent; Medicinal and Pharmaceutical Products, 231.1 percent; Mineral Fuels, Lubricants and Related Materials, 141.2 percent; and Cereals and Cereal Preparations, 132.4 percent. The deepest contractions in import performance were posted by Artificial Resins with a decline of 52.2 percent; Office and EDP Machines, 49.2 percent; Automotive Electronics, 31.7 percent; Others, 20.7 percent; and Home Appliances, 18.3 percent. For the year or the January to November period, the fastest-growing exports were Telecommunication with a growth of 132.7 percent; Ceramic Tiles and Décor, 125.2 percent; Fine Jewelry, 87.9 percent; Natural Rubber, 80.5 percent; and Other Coconut Product, 76 percent. Exports that posted the largest declines were Iron Ore Ag glomerates which contracted 51.6 percent; Automotive Electronics, 47 percent; Bananas (Fresh), 33.4 percent; Gold, 30.4 percent; and Mangoes, 22 percent. In terms of imports, the commodities that posted the fastest growth in the 11-month period were Mineral Fuels, Lubricants and Related Materials with a growth of 85.9 percent; Other Special Transactions, 83.6 percent; Metalliferous Ores and Metal Scrap, 72.5 percent; Medicinal and Pharmaceutical Products, 62 percent; and Non-Ferrous Metal, 59 percent. The imports that posted the deepest contractions were led by corn which declined 47.6 percent; Chemical Compounds, 31.2 percent; Office and EDP Machines, 19.1 percent; Tobacco, unmanufactured, 13.6 percent; and Automotive Electronics, 10.2 percent. Nonetheless, electronic products continued to be the country’s top export in November 2021 with total earnings of $3.71 billion. This amount accounted for 59.2 percent of the total exports during the period. Further, most of the imported goods were electronic products with an import value of $2.94 billion or a share of 26.8 percent to the total imports in November 2021.

Global markets

PSA said the country’s top export market was the United States of America (USA), which comprised the highest export value amounting to $997.85 million or a share of 15.9 percent to the total exports in November. Completing the top 5 major export trading partners with their export values and percent shares to the total exports were the People’s Republic of China, $887.48 million or 14.1 of the total; Japan, $879.43 million or 14 percent of the total; Hong Kong, $833.6 million or 13.3 percent; and Singapore, $360.68 million or 5.7 percent of the total. In terms of imports, the country’s top source of imports was the People’s Republic of China with imported goods valued at $2.28 billion or 20.8 percent of the total imports in November 2021. Completing the top 5 major import trading partners with their corresponding import values and percent shares to the total imports were the Republic of Korea with imports amounting to $1.1 billion or 10 percent of the total; Japan, $1.08 billion or 9.8 percent; Indonesia, $924.35 million or 8.4 percent; and Thailand, $671.56 million or 6.1 percent.

Cai U. Ordinario

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Wednesday, January 12, 2022 A3

Amid NCR pandemic curbs, road mishaps kill 345 people everyday By Cai U. Ordinario @caiordinario

THIRD of vehicular accident fatalities in the Philippines are pedestrians, according to the latest report from the United Nations Economic and Social Commission for Asia and the Pacific (Unescap). In its Sustainable Urban Transport Index (SUTI) for Metro Manila and Impacts of Covid-19 on Mobility, Unescap said 34 percent of those

Seven injured in N. Cotabato bus bombing By Rene Acosta @reneacostaBM

T least seven people were injured after an explosion ripped through a passenger bus while it was traveling along a highway in North Cotabato on Tuesday, the military said. Four of the victims in the blast are minors and one of them is in critical condition, according to Lt. Col. John Paul Baldomar, spokesman of the Army’s 6th Infantry Division. The explosion occurred two days after the country entered its official election period for the May polls national and local polls. Checkpoints manned by soldiers and policemen have been put up around the country to enforce the gun ban and check the movement of criminals and lawless people. As of Monday evening, the Philippine National Police reported through its spokesman Col. Roderick Augustus Balba that 11 people have been arrested in checkpoints for violating the election gun ban and 11 firearms were also seized. Baldomar said the Mindanao Star bus with body number 15511 was hit by the explosion between 8:15 a.m. and 8:20 a.m. while it was traveling along the national nigh way in Aleosan, North Cotabato. “The loud explosion was heard at the back of the bus,” he said. The bus came from Davao and was on its way to Cotabato City. Those injured were identified as Benjamin Solaiman, 5, who is in critical condition; Haron Solaiman, 24; Masid Piang,25;YushiraSolaiman,3;Rodolfo Castillo, 67; Lester Bautista Alcare, 17; and five-month-old Haira Solaiman. Baldomar said post-blast investigators are trying to determine what caused or triggered the explosion— whether it was a grenade or a homemade bomb.

killed by road accidents in the National Capital Region (NCR) were pedestrians. Unescap also said despite mobility restrictions imposed by the government to prevent the spread of Covid-19, vehicular accidents in Metro Manila, or the NCR persisted. In 2020, a total of 345 Filipinos died per day due to transport accidents. “The number of persons involved in accidents for the year 2016-2020 [showed] an average of 545 persons per day are involved in accidents

with a fatality rate at 1.9 percent,” Unescap said. “The breakdown of fatalities shows the unfortunate fact that fatalities didn’t just involve drivers and passengers but involved an average of 34 percent of pedestrians,” it added. Based on the data, 75 pedestrians on average were killed due to road accidents in 2020. This was the lowest in a five-year period. Data showed in 2016, there were 165 pedestrians killed by vehicular accidents; 162 in 2017; 142 in 2018;

percent of deaths. “The data shows that Metro Manila’s accident and fatality rates are still not close to achieving the zero road traffic death target by 2022, which was set out in the Philippine Road Safety Action Plan,” Unescap said. “Despite the mobility restrictions during the pandemic, the number of accident cases especially for motorcycles have not significantly decreased,” it added. Based on data from the Philippine Statistics Authority (PSA),

there were 6,440 deaths caused by transportation accidents between January and September 2021. This was a 4.2 percent increase from the 6,179 deaths caused in the same period in 2020. Transport accidents accounted for 1.3 percent of total deaths in the country between January and September 2021, and 1.4 percent in the same period in 2020. In both years, transport accidents have been deemed as the 15th top cause of death among Filipinos.

Study: 37 spray paint products exceed legal lead content limit By Jonathan L. Mayuga @jonlmayuga

AINT products in aerosol cans that are being sold in the Philippines contain high levels of lead despite an existing ban on lead in paint products, the Ecowaste Coalition, a waste and pollution watchdog reported on Monday. This prompted the group to call for immediate regulatory action, and reminded consumers to refrain from buying “inadequately labeled” and uncertified paint products. At the same time, the group also

urged spray paint manufacturers, including those that export paints to the Philippines, to obtain thirdparty Lead Safe Paint certification to help consumers in choosing paints without lead in excess of the 90 parts per million (ppm) limit. The Philippines is a recipient last June 29 of the coveted Future Policy Award(specialcategoryforleadinpaint) for being the first country in Southeast Asia to sucessfully implement a regulation toward lead-safe paint. Ironically, however, it found out that spray paints can be bought over the counter in malls, paint stores,

and hardware stores. They can also be bought online. �� In a news statement, the group noted that the Chemical Control Order (CCO) phasing out lead in all paint categories took effect eight years ago. “We find it very disappointing to find more lead-containing spray paints being sold at retail stores and online shopping sites in violation of the CCO. These decorative paints, which are marketed for general use and are accessible to consumers, should have been phased out on December 31, 2016,” Thony Dizon, Chemical Safety Campaigner, EcoWaste Coalition said.

“The unlawful importation of non-compliant paint products has to stop right away. We urge our Customs, trade, environmental and health regulators to take swift action to prevent children and workers’ exposure to such paints with added lead, a cumulative poison affecting multiple body systems, including the brain and the central nervous system,” said Manny Calonzo, Lead Paint Elimination Campaign Adviser, International Pollutants Elimination Network (IPEN). The CCO issued by the Department of Environment and Natural Resources

(DENR) stipulates a maximum limit of 90 ppm for lead in paint, and sets a three-year period (2013-2016) to phase-out leaded decorative paints and a longer six-year period (2013-2019) for leaded industrial paints. The EcoWaste Coalition and IPEN contributed to the development of the CCO and had been conducting lead paint studies, public information and policy advocacy activities in pursuit of the country’s shift to non-lead paint production backed by the Philippine Association of Paint Manufacturers (PAPM). See “Study” A7

Govt aims to inoculate addl 36M by midyear–Galvez By Samuel P. Medenilla @sam_medenilla

ESPITE failing to meet its vaccination targets last month, the government is determined in achieving its goal to vaccinate another 36 million individuals against Covid-19 by midyear. During the public address of President Duterte on Monday, National Task Force for Covid-19 chief implementer Carlito G. Galvez Jr. said their latest goal would include the inoculation of 3 million unvaccinated senior citizens. It also includes the vaccination of 26.67 million minors. Of which, 15.56 are in the 5 to 11 years old, while 11.11 million are in the 11 months to 4 years old age group. Galvez noted the vaccination of these groups would help the government meet its goal of vaccinating 90 million Filipinos before the end of June 2022. As of January 10, the government was only able to fully

vaccinate 52.86 million Filipinos. It was supposed to have vaccinated 54 million individuals last month, but the said goal was derailed after typhoon Odette (international code name Rai) devastated six regions in the country. “Their vaccination outputs are still in reduced capacities because some of them still do not still have 100 percent electricity services,” Galvez said. The vaccine czar said other factors, which could hamper their inoculation drive this year, is the recent surge in Covid-19 cases, upcoming 2022 national and local Elections, vaccine preference and slower administration rollout of boosters, and limited supply of vaccines for minors. The government maintained the vaccination of most of the country’s over 100 million population will be crucial to minimize the economic disruption of Covid-19 in the country.

PFP lawyer slams Carpio for ‘mind bending’ opinion HE top lawyer of Partido Federal ng Pilipinas (PFP) has slammed what he deemed a move by former Supreme Court Associate Justice Antonio Carpio to play loose with facts on the tax issue used as basis for the filing of petitions to disqualify formerSenatorFerdinand“Bongbong” Marcos Jr. or cancel his Certificate of Candidacy (COC) as presidential candidate in the May 9 elections. Atty.GeorgeS.Briones,veteranelection lawyer and PFP’s general counsel, said “Carpio’s mind-bending legal theory is intentional political propaganda meant to support his distant second presidential candidate, for if BBM were not leading in the surveys these DQ [disqualification] cases would not have been filed against him in the Comelec [Commission of Elections].” Briones explained that: “At the time Justice Carpio wrote his column on the disqualification of respondent on 28 October 2021, his presidential candidate Vice President Leni Robredo indorsed by his 1Sambayan was trailing badly in the polls, a far number two to respondent who had a 47 percent nationwide preference whereas Robredo had 18 percent, or a difference of 29 percentage points despite all the efforts of the vice president and her

and 118 in 2019. The average fatality among pedestrians is 138.4 representing 34 percent of total persons killed by road accidents. Apart from pedestrians, the data showed 2020 killed the most number of drivers due to road accidents. A total of 243 drivers were killed, the highest in a five-year period. The average between 2016 and 2020 was 213.2 drivers killed, representing 53 percent of the fatalities. Passengers killed averaged 51 or 13

followers to improve her lot.” Thus, if the Comelec will grant these petitions, Briones said, “It will establish a terrible precedent where all candidates badly trailing in the polls as the number two, will now file similar petitions to disqualify the number one in the polls, so even if they actually become the loser in the elections, they will be proclaimed the winner by litigation according to the case of Jalosjos penned by Justice Carpio himself.” Briones was referring to what he described as Carpio’s remark that Marcos Jr. is disqualified to run for the presidency because he is a certified convict for not paying his income tax discrepancies and fines, as ordered by the Court of Appeals (CA), despite the former senator having presented proofs of payment. Briones, also a graduate of the University of the Philippines College of Law like Carpio, pointed out to his colleague the finer points of the DQ cases and the petition to cancel Marcos’ COC: 1. The petition to cancel the COC is not a petition to enforce payment of a fine or deficiency taxes imposed as a penalty in a case that became final and executory in 1997. That is not the issue in this petition.

2. The petitions for disqualifications are likewise not petitions to enforce a judgment rendered in 1997. 3. Such issue could not even be raised now as prescription of penalties has set in. 4. The root issues here are whether or not BBM was ever imposed the penalty of perpetual disqualification in any court decision. 5. In both kinds of petitions, the petitioners have not shown that the penalty of perpetual disqualification was ever imposed on BBM. Hence, with or without payment of the fine or service of penalty, there is no perpetual disqualification in the first place to be removed because no such penalty was ever imposed. 6. BBM is not a convicted criminal as what Carpio, and his cohorts are saying. He was acquitted of the charges of tax evasion and so the penalties of imprisonment were removed by the Appellate Court. 7. BBM was only imposed a “fine” (Section 252 of NIRC (National Internal Revenue Code), and not “perpetual disqualification” (Section 254 of NIRC). The CA reversed the conviction of the Quezon City Regional Trial Court and acquitted BBM of tax evasion.

A4 Wednesday, January 12, 2022 • Editor: Vittorio V. Vitug

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DA vows to finish distribution of ’19-’20 RFFA aid to farmers by end of January By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) on Tuesday said it will complete the distribution of the 2019-2020 financial assistance program for Filipino rice farmers before the end of the month. Agriculture Assistant Secretary Arnel V. De Mesa said nearly half of the 1.497 million target rice farmers have already received their P5,000 cash assistance from the government’s Rice Farmers Financial Assistance (RFFA) program. The RFFA was a program created by the DA to provide rice farmers tilling 2 hectares and below with P5,000 cash assistance using the rice tariff collections in excess of P10 billion in 2019 and 2020.

The RFFA has a total budget of P7.6 billion as the government collected P5.5-billion excess rice tariffs in 2020 and P2.1 billion in 2019. The RFFA was based on the provision of Republic Act 11203 or rice trade liberalization law wherein rice tariff collections in excess of P10 billion could be used for the following purposes: financial assistance, titling of lands, crop insurance and crop diversification. De Mesa explained that out of the 1.497 million target beneficiaries, some 867,063 rice farmers already have an e-wallet, of which 745,946 rice farmers already received their P5,000 cash assistance. He added that 188,956 rice farmers have been given their intervention monitoring card (IMC). “Before the end of January 31, we

will be able to distribute the whole [P7.6 billion RFFA],” he said in a virtual news briefing on Tuesday. De Mesa said they will start the distribution of the 2022 RFFA, which will be funded by the excess rice tariffs collected in 2021, by March or April. De Mesa noted that the new law signed by Duterte—RA 11598— has streamlined the implementation of the RFFA since it mandates the Customs bureau to automatically transfer the excess rice tariff collections to the DA. This means that the tariff collections will not be subjected to the usual budgetary procedures such as the legislation of the General Appropriations Act, de Mesa pointed out. “The good thing about this law is that the BOC [Bureau of Customs] will automatically remit the excess tariff

collections to the DA,” he said. Furthermore, De Mesa explained that with RA 11598 in place, all excess rice tariff collections until 2024 would be used to bankroll the RFFA. “There will only be one use for the excess collection of the P10 billion which is for the RFFA,” he said. Duterte signed RA 11598 last December 10, which authorized the DA to provide for direct cash assistance to farmers who are tilling 2 hectares and below of rice land until 2024. Under the earlier RA 11203, tariff revenues from rice imports exceeding P10 billion must be earmarked by Congress and included in the national budget of the following year—for financial assistance to palay farmers, titling of agricultural lands, an expanded crop insurance program on rice, and crop diversification.

Govt sets cap on flu meds purchase Solon urges By Tyrone Jasper C. Piad @TyronePiad

HE government has capped the purchase of paracetamol and other flu medicines amid the recent surge in demand for the said over-the-counter (OTC) drugs upon the start of the year. The Department of Trade and Industry (DTI) and the Department of Health (DOH) recently released Joint Memorandum Circular (JMC) 22-01 or “Setting of Purchase Limit/Cap for

Paracetamol, Phenylephrine Hydrochloride, Carbocisteine and Chlorphenamine Maleate Paracetamol.” “The objective of this JMC is to prevent artificial shortage and price escalation of OTC flu medicines, and strictly ensure the availability of the same until such time that their supplies become stable,” the government agencies said. “There is a sudden surge of flu-like illnessesandCovid-19cases,whichresulted in an unusual demand for, and possible hoarding of consumers of, OTC medicines for fever and flu-like symptoms,

causingtemporarystockoutsofthesame in the retail market,” they added. For 500-milligram (mg) tablet paracetamol, the purchase cap is at 20 per individual at 60 per household. The same is applied to phenylephrine hydrochloride, chlorphenamine maleate paracetamol (10 mg/2 mg/500 mg) and 500-mg capsule of carbocisteine. For paracetamol with dose strength of 120 mg/5 mL, 60 mL and 250 mg/5 mL, 60 mL (suspension), the government limited the purchase at 5 per individual and 10 per household.

Miners spring into action as Typhoon ‘Odette’ hits Visayas and Mindanao By Jonathan L. Mayuga @jonlmayuga

S soon as Typhoon “Odette” made landfall and devastated Visayas and Mindanao on December 16, mining companies have started to deploy rescue and relief teams in typhoon-affected areas to help affected communities. From providing clean water and food packages, to construction materials needed for those who lost their homes to helping those who needed immediate medical care, miners from different companies belonging to the Chamber of Mines of the Philippines (COMP) rushed to communities from their respective areas of operation to give the victims the much-needed boost. Environmental groups continue to blame mining for the environmental destruction caused by mining, which they say, aggravates the adverse environmental impact of extreme weather events like typhoons, floods, and landslides that often lead to disaster. The devastation caused by Odette last December happened just a few days after the Department of Environment and Natural Resources (DENR) lifted the ban on open-pit mining method, an environmental policy put in place by former DENR Secretary Regina Paz L. Lopez in 2017. President Duterte had also recently signed Executive Order 130 which lifted the moratorium in the processing of new mining projects in the Philippines that was put in place by former President Aquino’s Executive Order 79. In the Caraga Region, Nickel Asia Corp. (NAC) affiliate Taganito HPAL Corp. (THPAL) distributed food packs and rice to families and evacuees from barangays Urbiztondo and Taganito, as well as construction materials for some 3,600 families from the firm’s host town of Claver in Surigao del Norte. Partial data provided by Mines and Geosciences Bureau (MGB) Caraga Regional Director Larry Heradez revealed that THPAL’s contribution alone cost some P13 million. In Luzon, Philex Mining Corp., for its part, gave financial assistance to the

Philippine Disaster Resiliency Foundation and the One Meralco Foundation for use in the MVP Group Tulong Kapatid Odette response efforts. Part of the assistance would be for the purchase of shelter and building materials for local government units in Surigao del Norte that were badly hit by Odette. The company also conducted an employees’ donation drive as well as offered its generator set at its Silangan Mindanao Mining Co. Inc. Project site in Barangay Timamana, Tubod, also in Surigao del Norte, for free charging of mobile phones and other communications devices. “Member-firms of the Chamber of Mines of the Philippines [COMP] also provide many unquantifiable efforts that are equally valuable in times of disaster, such as the quick response of Emergency Response Teams, the use of company equipment in the clearing efforts, and manpower resources,” said COMP Chairman Mike Toledo. As in other past typhoons like Yolanda, Ondoy, and Sendong, as well as the big earthquakes in Mindanao in 2017, and Luzon in 1990, Toledo said Filipino miners have shown dedication in helping communities devastated by Odette. Carmen Copper Corp. employees, for its part, delivered food packs— amid toppled electric posts and uprooted trees—to more than 100 residents of Barangay Cantabaco, Toledo City in battered Cebu Province while Odette was making landfall in Carcar City, some 37 kilometers south. CarmenCopperprioritizedthedistribution of basic necessities, such as food andwater,toaffectedcommunities.Bulk containersweresetupatkeyareaswithin the mine compound to provide nearby residents domestic water for free. This was augmented by water trucks making rounds to reach more individuals, especially in the hinterlands. As of December 31, more than 100,000 liters of domestic water as well as 20,000 pieces of relief goods have been distributed to Carmen Copper’s 17 host and neighboring communities. Meanwhile, almost 12,000 households benefited from the joint relief operation conducted by TVI Resource

Development Philippines Inc., Agata Mining Ventures Inc., Greenstone Resources Corp. and the Villar Sipag Foundation. The initiative was launched a day after Odette hit the two Surigao provinces and Dinagat Islands. Employees of thethreecompaniesimmediatelypacked and distributed rice, canned goods and noodles to the typhoon victims. The P7-million relief effort covered eight host and neighboring barangays of Agata in Agusan del Norte: Binuangan, Tinigbasan, Tagpangahoy, Lawigan, E. Morgado, Tagbuyacan, Colorado and La Paz. A total of 3,163 households in the area received assistance. The operation likewise benefited the host and nearby communities of Greenstone in the town of Tubod. Some 4,830 food packs were distributed to the typhoon victims, while another 3,400 were given to affected households in Surigao and Dinagat Islands. NAC subsidiaries Rio Tuba Nickel Mining Corp. (RTN) in Palawan, Cagdianao Mining Corp. (CMC) in Dinagat Islands, as well as Taganito Mining Corp. and Hinatuan Mining Corp. both in Surigao del Norte provided victims in host and neighboring communities a total of nearly 14,000 sacks of rice, and some 10,000 food packs. RTN and CMC also donated materials for temporary shelter, even as the latter made available a doctor and distributed over 5,000 kilograms of chicken and pork meat and water purifiers to victims. HMC also provided medicines for gastroenteritis. “Sofar,ourreliefhascostP40million— and counting,” said JB Baylon, NAC vice president for Communications. “Going forward,therewillbemorerebuildingand repairstobedoneinthecommunitiesand the islands, such as Siargao, which NAC will be committed to.” Carrascal Nickel Corp. donated P5.5 million in cash to the MGB Central Office. Platinum Group Metals, Inc. provided 5,000 sacks of rice to communities in Surigao del Norte, including Siargao Island. Pacific Nickel Phils. Inc distributed 1,300 food packs to residents of barangays Talisay and Cantiasay, as well as employees and contractors who also fell victim to Odette.

DOTr to restore Move It, Grab partnership By Jovee Marie N. Dela Cruz @joveemarie

O provide jobs for Filipinos amid the Covid-19 pandemic, the chairman of the House Committee on Transportation urged the Department of Transportation (DOTr) to reconsider its decision revoking a partnership between motorcycle taxi firm Move It and ridehailing giant Grab. House Committee on Transportation Chairman Edgar Sarmiento was responding to a decision by a technical working group (TWG) created by the Department of Transportation permanently revoking a partnership between Move It and Grab. He said regulators must provide equal opportunities to all motorcycle taxi providers to avoid creating a monopoly or duopoly that will only bring harm to the riding public. “We need public transportation, especially during these times…. I hope that all applications by all motorcycle taxis we use now will be considered,” the lawmaker said in a radio interview. Sarmiento said motorcycle taxis as well as motorcycle delivery services have become one of the biggest jobgenerating industries in the country even during the pandemic. The partnership between motorcycle taxi firms Move It and ride-hailing giant Grab allows users of Grab’s app to tap Move It’s services. To jumpstart the tandem’s service, Grab offered to its riders 1,000 free rides per day for one week. But the TWG shut down the partnership last September after only a week of operation despite the benefit to the public. The working group’s action left just JoyRide and Angkas as the only two ride-hailing firms allowed to join the government’s motorcycle taxi pilot study. Moreover, Sarmiento said, the TWG decision was not in line with conclusions reached by the House transport committee’s own technical working group. “We studied this proposed law on motorcycle taxis, and it is clear that the goal is fair competition. No one should be favored. The platform that will be used online won’t just be the platform of a chosen one,” he said. Move It, in a public statement, slammed the TWG decision, saying the partnership went through several rounds of discussions with the transportation department’s technical working group and addressed all concerns.

News BusinessMirror

www.businessmirror.com.ph

Wednesday, January 12, 2022 A5

PHL breaches 3-M Covid cases mark; 28K addl infections logged T

HE Philippines breached the 3-million Covid-19 cases mark on Tuesday after logging 28,007 additional infections on Tuesday, prompting an official of the Department of Health (DOH) to warn of further increase in infection count in the coming days. The Covid-19 cases in the country

stood at 3,026,473. The DOH also reported 45.5-percent positivity rate out of 58,409 persons who were tested. There were also 4,471 recoveries and 219 deaths. “Based on what we are looking at right now hindi sa pagdami [not on the increase in the number of cases]. Ang nakikita natin ay ang doubling time

ang medyo tumaas. Dati kasi 2.2 days nitong nakaraang araw ay humaba ng 3 to 4 days [What we are seeing is the doubling time have increased. Before it was 2.2 days but in the recent days it became longer to 3 to 4 days],” Health Undersecretary Maria Rosario Vergeire said at an online media briefing. The doubling time is the number of

days required for the number of cases to double, based on the rate of cumulative increase in number of cases. It is an estimate of the current rate of spread of the virus. “Pero sa pagtaas ng kaso tuloy -tuloy pa din sa pagtaas. Hindi pa din natin nakikita ang pagbaba ng kaso o kaya ay pagbagal ng kaso [The cases will still

continue to increase. We still can’t see that it will get lower or a slowdown in the increase in cases],” Vergeire added.

Public’s behavior

HOWEVER, epidemiologist Dr. John Wong said that the increase and decrease in the number of cases will depend on the behavior of the public.

“The cases will not change on their own...we have a lot of cases now and it’s growing. It will continue to grow. We have to change our behavior,” Wong said during the media briefing as he stressed the need for the public to observe the minimum public health standards. Claudeth Mocon-Ciriaco

BusinessMirror

Wednesday, January 12, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

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

KHURANA, PRATEEK Analytics Advisory Manager 1.

Brief Job Description: Lead business outcomes for clients through analytics as either embedded analytics or analytics as a service. Leverage analytics to drive next generation initiatives and innovation in their respective capabilities. Deliver client value through analytics and industry best practices

Basic Qualification: Complexity (degree of difficulty of an assignment or the level of problem-solving assessment and resolution required, as measured by degree of problem solving, strategic vs. routine focus, and stakeholder interactions (e.g. – executives, supervisor, etc.)): requires identifying & assessing complex problems for area of responsibility. Creates solutions in situations in which analysis requires an in-depth evaluation of variable factors.

LEE, SANGSEUNG Senior Viaduct Manager 11.

Brief Job Description: Provide overall leadership for quality and operational excellence within the site

YANG, TIAN Product Manager For Vision And Monitor Business For Huawei Device Philippines 12.

MIYAUCHI, HIROYUKI Sw/app/cloud Tech Support Specialist

Brief Job Description: Problem solvers with a people focus, software/application/ cloud technical support professionals act as the ongoing interface between the client and the system or application. Dedicated to quality, they use their exceptional communication skills to keep our excellent systems running and our clients happy. Fine-tuned interpersonal skills mean they can accurately define a client issue and deep product knowledge means they can interpret and design a resolution.

Basic Qualification: Bachelors, masters or PhD in business, statistics, math, comp sci, econ, physics, engineering or related scientific disciplines Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Complexity (degree of difficulty of an assignment or the level of problem-solving assessment and resolution required, as measured by degree of problem solving, strategic vs. routine focus, and stakeholder interactions (e.g. – executives, supervisor, etc.)): • requires analysis and solving of moderately complex problems. May create new solutions leveraging and, where needed, adapting existing methods and procedures. • requires understanding of the strategic direction set by senior management as it relates to team goals.

BEJLERI, ROBERT Business Operations Associate Director 4.

Brief Job Description: Work cooperatively to enable the execution of delivery or product work by creating, implementing and managing a program office function. Engage key stakeholders and participate with them on monitoring and reporting progress.

Basic Qualification: Complexity (degree of difficulty of an assignment or the level of problem-solving assessment and resolution required, as measured by degree of problem-solving, strategic vs. Routine focus, and stakeholder interactions Salary Range: Php 150,000 - Php 499,999

13.

Brief Job Description: Sets strategic goals and making sure they are measurable and creates and implements the organization’s vision and mission.

Basic Qualification: Master’s degree in international management. Relevant work experience in related industry.

INDAH Operation Analyst 6.

Brief Job Description: Study, review and analyze quantitative data and provide reports to Operations Supervisors and Managers

Basic Qualification: Extensive experience and good working knowledge of operational procedures and policies; ability to communicate fluently with Chinese, Bahasa Malaysia, Bahasa Indonesia, and English speaking clients

Brief Job Description: 1. Streamline resource center operation management rules and adapt financial solutions under new business scenarios. 2.Output the labor rate price-volume difference analysis model and put it online.

SAKLESHPUR SUBRAHMANYA, KESHAVA PRASAD Transitions Manager - South Asia 14.

Brief Job Description: Overall management of transitions which have regional and strategic importance. Work with subject matter experts from multiple workstreams, provide account coordination and control of resources required to complete each transition project.

TAN MAN HU Operation Analyst 7.

Brief Job Description: Study, review and analyze quantitative data and provide reports to Operations Supervisors and Managers

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

TOO TANG BOON Operation Analyst 8.

Brief Job Description: Study, review and analyze quantitative data and provide reports to Operations Supervisors and Managers

HYUN, AYOUNG Customer Service Consultant 15.

10.

Basic Qualification: Have skills in documentation

Brief Job Description: Prepare airline and custom documentation

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

WANG, SUQING Chinese Cargo Office Agent

Basic Qualification: Have skills in Chinese documentation

Brief Job Description: Prepare airline and custom documentations

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

DL MANILA BRANCH 12th Flr. Menarco Tower, 32nd St., Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: 1. Must have a work experience as a product manager for sales and marketing management. 2. With market analysis skills. 3. Must have a Bachelor’s Degree in Business Administration. 4. Highly proficient in Chinese and English language.

27.

28.

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: 1. With background in internal auditing. 2. With expertise in portfolio management, industry finance and service product pricing. 3. Must have a Bachelor’s Degree in Accountancy, with MA an advantage. 4. Highly proficient in Chinese and English language.

29.

30.

Basic Qualification: At least 8 years of local and international experience in handling regional level transition projects management for facilities management in multinational companies.

Brief Job Description: Assist customer with all travel related services & customer inquiries (inbound & outbound)

31.

32.

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

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

16.

17.

18.

19.

CHEN, YUAN Chinese Customer Service Brief Job Description: Customer support and data base services KE, JUNPENG Chinese Customer Service Brief Job Description: Customer support and data base services LI, BO Chinese Customer Service Brief Job Description: Customer support and data base services

LIN, TINGTING Chinese Customer Service Brief Job Description: Customer support and data base services

20.

21.

22.

23.

24.

25.

QIU, MINGQIANG Chinese Customer Service Brief Job Description: Customer support and data base services SHANG, CONGCONG Chinese Customer Service Brief Job Description: Customer support and data base services SUN, FEI Chinese Customer Service Brief Job Description: Customer support and data base services

WEN, QIU Chinese Customer Service Brief Job Description: Customer support and data base services

ZHANG, ANYI Chinese Customer Service Brief Job Description: Customer support and data base services

ZHANG, CHANGQIANG Chinese Customer Service Brief Job Description: Customer support and data base services

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

33.

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

34.

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

EN JELLYN Indonesian Customer Service Brief Job Description: Customer support and data base services

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

FEBRIANTI Indonesian Customer Service Brief Job Description: Customer support and data base services

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

SURYANTO Indonesian Customer Service Brief Job Description: Customer support and data base services

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

VICKY KURNIAWAN Indonesian Customer Service Brief Job Description: Customer support and data base services

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

WILLY Indonesian Customer Service Brief Job Description: Customer support and data base services

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

LOC NGOC QUANG Vietnamese Customer Service Brief Job Description: Customer support and data base services

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

Basic Qualification: With at least 3 years of work experience providing legal services to Japanese clients; Able to speak and write fluently in English and Japanese language.

Brief Job Description: Responsible to manage and guide the team members, responsible to ensure project will be delivered in a timely manner, develop new account especially for Japanese market; Formulate regulatory strategies and advise on and provide novel solutions to mitigate risks.

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

Basic Qualification: Strong understanding of social media platforms, content moderation and or digital content management work streams; native speaker, strong verbal and written communication skills

Brief Job Description: Backend content editing or content moderation process for social media; process requires candidate to work on the content uploaded on social media, reviewing the uploaded posts and to take necessary actions for the same

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Ability to coach and guide team members and colleagues in a BPO set-up; great communication and interpersonal interaction skills; strong metric management skills.

WU, YUK FONG Associate Manager - Account Management 35.

Brief Job Description: Manages team quality, monitors transactions, audit transactions, and provide quality related feedback and coaching to team members; work closely with the client to improve content management system

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

VERMA, RAJESH KUMAR Manager - Technical Training 36.

Brief Job Description: Develop, train and manage program trainers; establish and maintain communication with clients and/or team members; understand needs, resolve issues and meet expectation.

Basic Qualification: Ideal combination of managerial and analytical skills; proficient in performance management system (PMS); exhibit excellent mentoring skills; proven project & people management skills Salary Range: Php 90,000 - Php 149,999

TIAN XIA TECHNOLOGIES INTERNATIONAL, INC. Bldg. B Filinvest Cyberzone 6, Bay City, Barangay 76, Pasay City ZHANG, WEI-CHENG Chinese Customer Service Representative 37.

Basic Qualification: At least 19 y/old; Ability to speak write and communicate in Chinese mandarin

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

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

TIANYU TECHNOLOGY INC. 15/f Socialdesk Tower, H.v. Dela Costa St., Bel-air, City Of Makati CHIN ZHI HAO IT Support Specialist 38.

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

Brief Job Description: Customer support and data base services

ANDRY SAMUEL Associate - Cs Internet

Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills

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

ZHAO, MENGMENG Chinese Customer Service

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

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

QUALIFICATION AND SALARY RANGE

IKOMA, HIRONORI Japanese Consultant

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

PJS CORPORATE SUPPORT INC. 10/f 8 Rockwell Hidalgo Cor. Plaza Drive, Rockwell Center, Poblacion, City Of Makati

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg., Quirino Ave., Tambo, City Of Parañaque

DEXIN INTERNATIONAL IMPORT AND EXPORT CORP. 534 Tomas Mapua St., 029, Barangay 298, Santa Cruz, City Of Manila CHOY, PING FUN PAUL Cargo Office Agent

26.

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

LUFTHANSA SERVICES PHILIPPINES, INC. 8th Floor Aeon Center, Northgate Cyberzone, Alabang, City Of Muntinlupa

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Extensive experience and good working knowledge of operational procedures and policies; ability to communicate fluently with Chinese, Bahasa Malaysia, Bahasa Indonesia, and English speaking clients

Basic Qualification: Bachelor’s degree with 7 years of experience in the related field.

No.

JONES LANG LASALLE (PHILIPPINES), INC. 19/f Nex Tower, 6786 Ayala Ave., San Lorenzo, City Of Makati

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

CASPO INCORPORATED 43/f, 45/f, 49/f Pbcom Tower, 6795 Ayala Avenue Corner V.a. Rufino Street, Bel-air, City Of Makati

QUALIFICATION AND SALARY RANGE

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

BETONBAU PHIL., INC. U-410 4/f Dhi Bldg. 2, Lapu Lapu Ave., Magallanes, City Of Makati STEINER, TOBIAS JOSEF General Manager/Treasurer

Brief Job Description: 1. Develop product portfolios and sales strategies for the region. 2. Collect market/customer requirements. 3. Develop solution to products, commerce, marketing, channel, delivery, and implementation.

WANG, LICONG Project Finance Controller For Huawei Indoor Business Solution Project

Salary Range: Php 30,000 - Php 59,999 AIG SHARED SERVICES - BUSINESS PROCESSING, INC. Aig Operations Center, North Bridgeway Avenue, Northgate Cyberzone, Alabang, City Of Muntinlupa

Brief Job Description: Review and check on design, assembly and operation of launching equipment.

ESTABLISHMENT / ADDRESS

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

Salary Range: Php 150,000 - Php 499,999 BAZIL ANTHONY Delivery Excellence Senior Manager

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Basic Qualification: Fluent in Chinese writing and speaking language

Brief Job Description: Responsible for providing quality it supports of enterprise systems throughout the Chinese clientele.

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

DESMIWATY IT Support Specialist 39.

Brief Job Description: The IT Support Specialist is an integral of the company infrastructure application support and of the IT Division and is responsible for providing quality IT Support of enterprise systems throughout the chinese clientele

Basic Qualification: Fluent in Mandarin, Cantonese and Fuken Language Salary Range: Php 30,000 - Php 59,999

*Date Generated: Jan 11, 2022 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLENCR 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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Wednesday, January 12, 2022

BTr grants partial awards in T-bonds offer No virus-pandemic lasts forever

HE primary historical comfort that ensures this Covid-19 and its variants will not last forever comes from the fact that no virus ever escaped conquest by science. The dreaded “Spanish Flu” in 1918 that afflicted a third of the world’s population and killed 50 million people vanished in two years or so. The human survivors “developed an immunity gained from dealing with various mutations till they became less virulent.” Others? Polio was eradicated in 1979 and, according to the World Health Organization (WHO), so was smallpox in 1980. The human immunodeficiency virus, which had a 10-year life incubation, was effectively prevented; deaths from such virus are now few and far between. SARS (severe acute respiratory syndrome), which exploded in 2002 to 2003 only resulted in a mere 774 deaths and all but disappeared. But today—just when the world had used 9.4 billion anti-Covid vaccines on over 8 billion population and some normalcy has approached; a variant called Omicron appeared and punished South Africa in a frightening way. But in just a few months after, the African Council for Scientific and Industrial Research reported “a significant decline” in Omicron infection, hospitalization and death in themselves and in comparison to the virulent Delta. Now, except for the midnight-to-5 a.m. curfew, South Africa’s “restaurants, shops, cinemas, bars and gyms are all open”— both for outdoor and indoor usage. Will all other nations result in such a trajectory of eventual virus liberation? The US (90 percent Omicronafflicted) has been hit badly—at one time with one million new infections in one day and supersonic surges were observed in India, UK and France, among others. Hospitals in America are now once again challenged. The Washington Post reported that antiCovid pills’ supply is once again outpaced by demand (Paxlovid by Pfizer and Merck’s Molnupiravir). In the same media outlet, US President Joe Biden told Americans: “Be concerned about Coronavirus but NOT alarmed—unless you are unvaccinated.” Though the fact remains that Omicron can infect both the vaccinated and the unvaccinated. But the chances of the unvaccinated being into serious symptomatic troubles or death are preponderantly higher than those who got the vaccines. US scientists dared to say that current vaccines are effective against Omicron. The Times of Israel released a statement that a fourth shot of the Pfizer-BioNTech vaccine will boost the number of antibodies within a space of a week from an injection. So, is the world winning or losing the war versus Covid? In the Philippines? Many places here including the National Capital Region (NCR) have been placed under Alert 3 as the number of new infections hit 26,000 last Friday against what was only 200-plus a day. Newspaper accounts last weekend said that 2 of 5 of those tested were declared positive or over 50-percent positivity rate. Does this mean that if 100 million Filipinos were to be tested simultaneously, 50 million Filipinos would likely have the virus? We do not know if we got that right, but Manila insists the surge is still mainly Delta-based though Omicron cases have been confirmed to be in existence in the NCR. What we do know is viruses mutate— they do not die and a new wave of

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury only granted a partial award of the reissued 5-year Treasury Bonds (TBonds) the BTr offered last Tuesday.

Finex free enterprise Zoilo ‘Bingo’ Dejaresco III viruses attack. Mutate means they metamorphose—they change characters and potency—say, from Delta to Omicron. Our hope is that, eventually, all virus attacks will be from Omicron here; why? Because while the transmission rate of Omicron is high (many will be infected), the virulence is very mild—in fact, the mildest among the variants—which means only a few will be hospitalized and fewer deaths will occur. We’d rather have a sample of the “Omicron South African” nightmare here but end up where that African nation is now- celebrating brand new normalcy their people have not seen in two years. To Africans, South Africa had hopefully seen the “endemic”—the last of the variants in Omicron and will declare themselves soon “Free from Covid.” Exaggerated or not, we hang on— and suspend our disbelief as we hear OCTA Research Fellow Fr. Nicanor Austriaco boldly speak about the “benefits” of Omicron. Says the Man of the Cloth: “Omicron is a natural vaccine booster against all various Philippine variants starting from June 2020: Delta, Gamma, Beta, Alpha and D614G. Thus, it helps us against all variants.” Omicrons used to have two pathways to the other body cells. But, luckily, it seems, changes in the mutation of the virus, resulting in its preference to lodge at the “upper respiratory tracts, not the lungs”— lessening the severity f the symptoms although its transmissibility may be high. Studies showed that while Omicron is good at avoiding antibodies, they are less able to defend against the “second line” defenses of the vaccines and even from previous infections, which are the T-cells and the B-cells. It is likely that the T-cells of those vaccinated or those previously infected in the past 6 Months- can recognize the Omicron readily and fight it off quickly. This explains why the symptoms and infection are mild. It is true though that both the vaccinated and unvaccinated can still be affected by Omicron. Its coverage will usually be ONLY the nose and throat areas; affecting the upper respiratory tract (and, therefore, milder) but not the lung whose infection will cause more severity. According to available data Japanese, American and Belgian scientists tested animals and found out that the Omicron cannot affect their lungs, as well. Their Hongkong counterparts used lung tissues and tested Omiron could not grow on them, likewise. An added voice of hope comes from an Immunologist of the University of California Monica Gandhi, who said “the virus will always be with us (like the flu?); but my hope is that the variant will cause so much immunity, it will quell the pandemic.” The twin phenomenon of high transmission rate but with mild infection for most “signal the beginning of the end of the pandemic.” Scientific fact or fiction? Hope lies eternal in the human heart. Former banker Zoilo P. Dejaresco III is a financial consultant, media practitioner and book author. He is a Life and Media member of Finex. His views here, however, are personal and do not necessarily reflect those of Finex and the BusinessMirror. E-mail: dejarescobingo@yahoo.com.

With its decision, the Treasury raised P22.1 billion out of its P35billion offering. The security was awarded at an average rate of 4.012 percent. Had the Treasury opted to fully award the offer, the highest submitted bid rate would have reached 4.15

percent, way above the fair value for the security, officials said. With a remaining life of four years and two months, the tenor is set to mature on April 8, 2026. Its coupon rate is set at 3.375 percent. Tenders for the security reached P58.3 billion, making the auction

oversubscribed. The BTr’s decision in Tuesday’s auction hinged on expectations prices would remain mute in the coming months. National Treasurer Rosalia V. De Leon expressed confidence the country’s inflation rate will continue to go down. “Inflation will trend downward and [the] BSP [Bangko Sentral ng Pilipinas] patiently supportive to allow [the] economy to recover,” De Leon told reporters following the auction. In December, monthly inflation eased to its lowest for 2021 at 3.6 percent due to cheaper food and transport costs.

However, the country’s average consumer prices for 2021 settled at 4.5 percent, which is above the government’s 2-percent to 4-percent target. This is also higher compared to 2.6 percent in 2020. Factors cited by economists that contributed to the country missing its full-year inflation target include higher pork prices, continued supply chain constraints, and fourthquarter spending surge. For this month, the Treasury is set to borrow P200 billion from the local debt market. For this year, the national government programmed to borrow P2.47 trillion, down by nearly a fifth from P3.07 trillion this year.

More banks shorten hours amid surging Covid cases By Bianca Cuaresma @BcuaresmaBM

ORE banks have announced modified operations, especially branches in the National Capital Region (NCR), as health officials reported a continuing surge of Covid-19 cases. State-run Landbank of the Philippines announced in a statement last Tuesday its branches in Metro Manila and some parts of Luzon will be operating on shortened hours from 8:30 a.m. to 2:00 p.m. The bank added it temporarily closed some branches in the NCR,

Central Luzon and Southern Luzon due to Covid-19 exposure of personnel and to give way to disinfection to ensure the health and safety of its clients and employees. With renewed calls to stay home and do banking online, Landbank also urged its clients to exercise more vigilance in their transactions through the internet. The lender appealed to its clients to remain vigilant and ignore suspicious emails, text and social media messages, links and attachments from unknown senders. It also urged the public to be on the look-out for fake web sites and social media ac-

Move dates for paying taxes, permits–Binay By Butch Fernandez @butchfBM

MID looming threats from an “exponential surge” of the contagious Omicron variant, Senator Maria Lourdes Nancy S. Binay aired an appeal for local governments to extend looming deadlines for annual payments of real property tax and business permits. At the same time, Binay conveyed a separate plea to utility companies to “suspend disconnection activities” amid the pandemic. In a statement, the Senator conveyed the pleas addressed to local government units (LGUs) to extend the deadline for payment of real property tax and business permits to avoid an influx of taxpayers amid the exponential surge of the Omicron variant. “We call on local government officials to extend the deadline for the payment of real property tax and business permits, if possible, and, as a consideration, do not impose penalties on our taxpayers,” Binay was quoted in a statement as saying in Filipino. Moreover, the lawmaker noted that LGUs in the National Capital Region and areas where surges are reported should consider the move of the City Government of Manila to extend the deadline for payment of business

Study. . .

continued from A3

For its latest lead paint investigation, the EcoWaste Coalition in October and November 2021 procured a total of 60 spray paints representing 16 brands that were obtained from online dealers and from various retail stores in 11 cities, including Angeles, Antipolo,

Odette victims . . . continued from A10

All health protocols imposed by the government must be heeded especially given the current steady rise in the numbers of those infected by the virus,” said the BBM-Sara UniTeam. The Philippines on Monday posted an all-time high of new infections with 33,169, raising the Philippines’ total

permits until March 31. “Given the current spike in Covid-19 cases,” extending deadlines will help reduce the movement of people, the senator suggested in airing an appeal after the Department of Health recorded 33,169 new coronavirus infections last Monday. At the same time, Binay suggested that LGUs should also adopt and promote “digital payment options that will enable people to pay their taxes without leaving their homes.” She added that “LGUs should definitely look at integrating electronic modes of payment in the collection of payment of taxes and fees.” Moreover, Binay noted that for those who are required to be physically present to submit and sign documents, the senator suggests the LGUs can temporarily accept digital or electronic copies pending verification or submission of original documents. “This is more convenient for their constituents and will help to avoid long queues or gatherings, especially in paying permits and submitting documents,” the senator said in Filipino. The Makati lawmaker, likewise, appealed to utility firms to suspend disconnection activities in their respective franchise areas and give them time to settle their unpaid bills as the Omicron variant takes its toll especially in the NCR.

counts pretending to be Landbank by checking and verifying a suspicious site’s URL, email address, social media account or phone number. “Official Landbank representatives will never ask for a client’s onetime passwords (OTPs), account details and the card verification value (CVV) at the back of the card, among other security details,” the bank said. PSBank also announced that it has shortened its banking time to 8:30 a.m. to 3:00 p.m. The bank also said some branches are temporarily closed while slightly different banking hours are observed for mall-based branches. The list of

per-branch details is on their official web site. Security Bank Corp. has also adjusted its hours but their operating schedule varies depending on the location of the branch. Most branches in Metro Manila operate from 9:00 a.m. to 3:00 p.m. while some are only up to 2:00 p.m. The bank posts daily updates on their operating schedules on their official web site. Over the weekend, both the Bankers Association of the Philippines and the Chamber of Thrift Banks issued statements, ensuring their clients of continued services amid the surge of cases.

DepEd eyes to surpass 2021 budget-use rate By Claudeth S. Mocon-Ciriaco @claudethmc3

HE Department of Education (DepEd) aims aiming to surpass its budget utilization rate (BUR) last year of 97 percent amid challenges posed by Covid-19. “For 2021, we are aiming to maintain 96 percent or even surpass 97 percent for BUR,” DepEd Undersecretary for Finance Annalyn M. Sevilla said. Sevilla also expressed gratitude to personnel of the DepEd, especially those in its units “that stopped or suspended operations.” Recording an 8-percent increase in BUR from 88 percent in 2015 to 96 percent in 2020, Sevilla attributed the achievement to “simplification of public financial management processes and decentralization of fund management, which promotes accountability, transparency and competency as funds are being downloaded to the regional, division and implementing schools.” Contributing, too, according to the official, was lawmakers’ approval to extend the implementation period of the 2021 Maintenance and Other Operating Expenses (MOOE) and capital outlay budget until December 2022. The GAA 2022 also increased the MOOE capitalization threshold from P15,000 to P50,000, which will redefine the use of school-MOOE and benefit schools that can now procure higher quality gadgets or equipment

needed for the limited face-to-face classes, according to Sevilla. She also noted in her year-end report the following gains: establishment of technical working groups; the institutionalization of the delivery unit of the Education Program Management Office (EPMO); partnership with the National Commission for Culture and the Arts (NCCA), the National Quincentennial Committee (NQC), the National Historical Commission of the Philippines (NHCP) and the Cultural Center of the Philippines (CCP); recommendation of new employee uniform; submission of the 2020 performance based bonus; enhancement of automatic payroll deduction system program; and, improvements in the GSIS financial assistance loan and waiver of interest rates in these loans. Sevilla also shared her office plans to increase the provident fund loan limit from P100,000 to P200,000, decentralize approval of loans to SDO level and establish a new provident fund that will allow personal contribution and give more benefits to employees.

ALS funding

EDUCATION Secretary Leonor Magtolis Briones expressed hcited the national government’s support for basic education as “strong.” This as President Rodrigo Duterte increased funding for the Alternative Learning System (ALS) and the expansion of the use of funds for the MOOE of the DepEd.

Batangas, Calamba, Lucena, Mabalacat, Malolos, Manila, Parañaque, San Fernando, and San Jose del Monte. Costing P55 to P340 each, the samples were mostly imported from China and Thailand. Laboratory test results confirmed that the 37 samples representing 11 brands contained violative lead concentrations up to 97,100 ppm. Of the 37 samples, 30 had extremely high lead

concentrations in excess of 10,000 ppm, and of these 30 samples, 23 had lead above 40,000 ppm. The remaining seven samples had lead levels between 428 and 4,850 ppm. None of these leaded paints were manufactured by PAPM-affiliated companies. The lead-containing “Sinag” and “Korona” spray paint samples were even marked “lead-free” or contained a pic-

togram indicating no Pb (the chemical symbol for lead), the EcoWaste Coalition and IPEN said. Products labeled as lead-free are giving consumers false assurance about a product’s lead content. The group said such a case of mislabeling points to the importance of third-party certification that will independently confirm compliance to the 90 ppm lead in paint standard.

caseload to 2,998,530. Health Secretary Francisco Duque III said the Philippines has already been classified as critical risk for Covid-19, noting that Omicron has finally surpassed Delta as the dominant variant in the country based on the latest whole genome sequencing.

lief goods to typhoon victims despite the threat of Covid-19. Apart from cash and relief goods, BBM-Sara UniTeam also distributed thousands of gallons of water and water filtration kits. They also donated construction materials to rebuild the houses destroyed by the typhoon. The BBM-Sara tandem also recently distributed generator sets and satellite dishes that helped restore electricity and

communications signals in areas hit hard by the storm. Aside from providing food, potable water, and helping restore power and rebuilding of shelters, the pair is also working to provide much-needed medicines and vitamins for children, the sick and senior citizens taking maintenance medications. Bongbong and Sara promised to immediately look for donors who can provide medicines for the victims.

Relief work continues

The BBM-Sara Uniteam also vowed to continue the distribution of aid and re-

A8 Wednesday, January 12, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Protecting PHL hog population

onsumer prices rose faster last year mainly on the spike in the prices of meat products, specifically pork, and supply-chain snags, economists said following the Philippine Statistics Authority’s (PSA) release of the 2021 inflation data. Inflation in 2021 accelerated to 4.5 percent, from 2.6 percent in 2020 (See, “Higher-than-target 2021 inflation expected,” in the BusinessMirror, January 5, 2022). This was largely due to increases in the prices of transport and non-alcoholic beverages. National Statistician Claire Dennis S. Mapa said high pork prices have exacerbated the problem of food inflation last year. The average monthly retail price of pork in the National Capital Region, he noted, rose to P348 per kilogram (kg) in December from P332 the previous month. Compared with its price a year ago, pork was more expensive by P43 per kg in December 2021. As of January 10, the price of pork remains elevated, based on the monitoring of the Department of Agriculture (DA). Pork kasim and liempo retailed at an average of P340 per kg and P380 per kg, respectively. According to data from the DA, pork liempo was even more expensive than beef brisket, which retailed at P350 per kg. This situation is expected to persist this year until and unless the threat of African swine fever (ASF) is removed. While hog raisers have started repopulating their farms, they would have to live with the constant fear that a devastating outbreak is just around the corner. All it takes is just one unscrupulous trader to transport infected hogs to wipe out the gains they’ve made in recent months. Both the government and the private sector must remain vigilant, especially in light of the recent outbreaks of the fatal hog disease in European countries, including Germany, the country’s top source of imported pork. In November 2021, Reuters reported that Germany’s federal agriculture ministry confirmed the outbreak of ASF in a farm near Rostock in the eastern state of MecklenburgVorpommern. The fatal hog disease was also detected in a wild boar in Italy’s Piedmont region. The government is now conducting a mandatory 100-percent inspection of all imported agricultural goods at the “second border” to curb smuggling (See, “PHL to start 100% check on all imported farm goods,” in the BusinessMirror, October 11, 2021). Under the new inspection system, imported farm goods will first undergo an “open-close” examination at the port of entry or “border,” and then the shipment will be subjected to a 100-percent inspection once it arrives at its designated warehouses, or the “second border.” Concerned agencies must see to it that no contaminated meat would enter the country to protect the domestic hog population. Government must also step up efforts to find other possible tools that could help the country minimize or eliminate altogether the threat of ASF. The elimination of this scourge should be one of the primary goals of the next administration to tame meat inflation and strengthen the country’s food security. Since 2005

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

etirement is one of the stages in life that working people always look forward to, especially by those who have spent their productive years in their respective professions. This is the time when one is no longer bound to wake up early, travel to work, and spend eight hours in the office. With more free time on their schedule, some retirees pursue activities that they have withheld for some time. Some love to travel to their favorite places of interests, while some just wanted a peaceful and relaxing time with their loved ones. This is life’s rewards when you can finally enjoy the fruits of your labor after years of hard work. In line with the SSS’ 64th Anniversary theme “Handog sa Miyembro, Serbisyong Makabago,” which aims to provide members with faster, simpler, and easier transactions, SSS has made enhancements on its online filing of Retirement Benefit Claims through the My.SSS Portal. As early as 2015, we have already made this available to our members who have reached their compulsory retirement age of 65 years old. Throughout the years, SSS has continuously improved its systems and procedures to make it more convenient to members, pensioners, and other

stakeholders. We always work on the premise of providing universal and equitable social protection through world-class service and we never stop instituting various innovations and improving the systems we have in place for the benefit of our members. There are several enhancements made to the online filing of Retirement Claim Application (RCA) which are beneficial to member-applicants. First is the expanded service reach as qualified Self-Employed (SE) members aged 60-64 years old will now be covered under the guidelines on the enhanced online filing of re-

60 to 64 years old as of date of retirement, the following conditions shall apply: 1. if with contribution/s within 12 months prior to the month of retirement, a request for online certification shall be sent to the employer. The latest employer per SSS record shall certify the employee-member’s date of separation from employment through the employer’s account in the My.SSS portal; and 2. if with no contribution/s within 12 months prior to the month of retirement, a Certificate of Separation shall not be required. SE members who are 60 to 64 years old as of date of retirement and with posted contribution/s applicable after the month of cessation of business/self-employment, per SSS record, shall have the following options before proceeding with the online filing of retirement benefit claim through the My.SSS portal: 1. to encode the correct date of cessation of business/self-employment; 2. to refile the retirement benefit claim online on or after the applicable month of the last posted SE contribution; or 3. to execute an online certification with undertaking that only contribution/s applicable up to the month of cessation of business/selfSee “SSS,” A9

and the country’s colonial past, they are also “dominant and lingering, roots long and winding, beautiful and scary at the same time; and as exotic species, forever imposed, a stranger to the land.” A UP alumna once wrote: “The way the branches completely extend out from the tree’s trunk, like arms stretching out from the body, portrays how the students are pushed to their limits, especially academically. Yet despite that, the acacia trees and the students alike, remain standing strong amidst all of that expanding, growing even more used to it as the years go by.”

For the Hebrews, acacia is believed to be the wood that Moses was instructed to use when building the Ark of the Covenant that encased the two tablets of the Ten Commandments. Before the pandemic, the oval is divided into three lanes—with the outermost part dedicated to motorists and the innermost for joggers and bikers. Motorists are now prohibited to traverse major portions of the oval. The loop has seen many events including rallies, UP Fair and lantern parades. I was born in the same period See “Gorecho,” A9

Homage to the acacia trees Dennis Gorecho

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tirement benefit claim through the My.SSS Portal. Effective December 29, 2021, members with dependent children, members who are racehorse jockeys, and surface/underground mineworkers may now also upload their required supporting documents online. Second is the online certification with undertaking which replaces the existing procedures that requires submission of an Affidavit of Separation from employer or an Affidavit of Cessation of Business/ Self-Employment at the branch as supporting documents for overthe-counter (OTC) filing of claim. Additionally, we have put in place additional system validation rules in order to reduce the rejection rate of online transactions for handling by branches. Under the enhanced online filing of RCA, all qualified employee-members, SE, Voluntary Members (VMs), and Land-Based Overseas Filipino Worker (OFW) members shall file the retirement benefit claim online through the My.SSS portal. Primarily, they must be registered through the My.SSS portal in the SSS website and must have a UMID card enrolled as ATM or an approved disbursement account in the Disbursement Account Enrollment Module (DAEM) in the My.SSS portal. For employee-members who are

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Online filing of retirement benefit claims made easier through the My.SSS Portal

he acacia trees of the academic oval are silent witnesses to the travails of the denizens of the Diliman campus of the University of the Philippines.

As a homage to my second home for a decade, I ran 10 kilometers (five rounds of the 2.2-kilometer loop) to cap my golden year last December. The 10-kilometer run symbolizes 10 years, or one fifth of my 50 years of existence, as one of the Iskolar ng Bayan. Canopied by over a hundred years old sturdy acacia trees, the Diliman academic oval is a pollution-free haven not just for runners, but also for bikers. A favorite photo backdrop is the scenic view of the way the branches of the trees from the left side of the street meet with those from the right side, forming some kind of archway. They are now part

of UP culture and heritage. Most of the trees are as old as the campus itself. They offer much needed shade and bring in a relieving breeze even in the scorching heat. The acacias, botanically known as Albizia saman, were the first trees planted after the transfer of UP to Diliman in the late 1940s. The hard adobe grounds had to be blasted to allow them to take root. Since then, says the UP website, the trees have spoken eloquently of UP Diliman’s fast and robust growth. Now larger-than-life, acacias hold sway at the academic center, providing shade where there was once only grassland. The UP web site added: Like UP

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Chicago union leaders OK plan to resume in-person class

Corruption in the bureaucracy is a deep-rooted problem Dr. Jesus Lim Arranza

MAKE SENSE

By Sophia Tareen | Associated Press

HICAGO—Students are poised to return to Chicago Public Schools after leaders of the teachers union approved a plan with the nation’s third-largest district over Covid-19 safety protocols, ending a bitter standoff that canceled classes for five days. While school districts nationwide have faced similar concerns amid skyrocketing Covid-19 cases, the labor fight in union-friendly Chicago amplified concerns over remote learning and other pandemic issues. The deal approved late Monday would have students in class Wednesday and teachers back a day earlier. It still requires approval with a vote of the union’s roughly 25,000 members. Issues on the table have been metrics to close schools amid outbreaks and expanded Covid-19 testing. Neither side immediately disclosed full details of the proposal Monday evening, but leaders generally said the agreement included metrics to close individual schools and plans to boost district Covid-19 testing. The district notified parents in the largely low-income Black and Latino school district of about 350,000 students that classes would resume Wednesday. “We know this has been very difficult for students and families,” Mayor Lori Lightfoot said at an evening news conference. “Some will ask who won and who lost. No one wins when our students are out of the place where they can learn the best and where they’re safest.” In a dueling news conference, union leaders acknowledged it wasn’t a “home run” but teachers wanted to be back in class with students. “It was not an agreement that had everything, it’s not a perfect agreement, but it’s certainly something we can hold our heads up about, partly because it was so difficult to get,” Union President Jesse Sharkey said. The Chicago Teachers Union’s house of delegates voted Monday evening to suspend their work action from last week calling for districtwide online learning until a safety plan had been negotiated or the latest Covid-19 surge subsided. The district, which has rejected districtwide remote instruction, responded by locking teachers out of remote teaching systems two days after students returned from winter break. While there has was some progress on smaller issues like masks, negotiations over the weekend on a safety plan failed to produce a deal and rhetoric about negotiations became increasingly sharp. Some principals canceled class Tuesday preemptively and warned of further closures throughout the week. Earlier Monday, Union President Jesse Sharkey said the union and district remained “apart on a number of key features, accusing Lightfoot of refusing to compromise on teachers’ main priorities. “The mayor is being relentless, but she’s being relentlessly stupid, she’s being relentlessly stubborn,” Sharkey said, playing on a reference the former prosecutor mayor made about refusing to “relent” in negotiations. “She’s relentlessly refusing to seek accommodation and we’re trying to find a way to get people back in school.” Lightfoot accused teachers of “abandoning” students and shot back at the union president. “If I had a dollar for every time

Gorecho. . .

continued from A8

when the First Quarter Storm (FQS) was associated with anti-Martial Law protests, mostly led by UP students and faculty. I was barely two months old when the nine-day uprising called “Diliman Commune” from February 1 to 9, 1971 became an evidence of UP’s role as the “bastion of activism” since the early days of the Marcos dicta-

Wednesday, January 12, 2022 A9

ince its creation as an advocacy group to promote and protect the interests of local producers and manufacturers, the Federation of Philippine Industries has evolved to become more proactive and profound in its advocacy to stop all forms of illicit trade, smuggling, and corruption in both the public and private sectors. As FPI head, I can say we have had successes in our campaigns, but much work remains to be done.

“Millions of legitimate landowners have been victimized by Documentary Land Grabbers under a modus perfected by PENROs and CENROs that are conspiring with Provincial/Municipal Assessors to fabricate fake Tax Declarations overlapping even titled properties and selling these to unsuspecting buyers.”

people were back at work. The most the Civil Service Law would allow is suspension for six months; they can only be terminated if the Court approves on the basis of cases filed. And we know that court cases take forever to resolve.” Mr. Albano’s proposed solution is the straightforward enforcement of the Anti-Red Tape Law and the Ease of Doing Business Law (RA 11032). “Lawyers in Executive Departments could not go around the ARTA law. I have been informed that in the case of DENR, they persuaded the ARTA complainant to also file with the PACC; after which they move for dismissal on the basis of forum shopping. Otherwise, they engage in all sorts of delaying tactics,” he said, adding that the main cause of delays is the very serious shortage of good ARTA lawyers. “I heard this from an ARTA lawyer myself. They have a huge backlog of cases now.” Mr. Albano has a good piece of advice for me: “In your campaign sorties, remind the public to be aware of the provisions of the Ease of Doing Business Law or Anti-Red Tape Law. Once they encounter delayed government transactions, they need to file a complaint against the erring government employees. They don’t need a lawyer to do this.” Clearly, as Mr. Albano said, private citizens doing business transactions with the government have a big role to play to make the campaign against red tape and corruption succeed.

at all levels. Worse, while the political leaders in the Executive and the Legislative Departments have to face the electorate every six years or three years, the Civil Service-protected bureaucracy doesn’t have to do this. So, if any of the tenured officials are corrupt, they have a lifetime to commit corruption! And they are doing this,” he added. Mr. Albano explained: “These are the corrupt people we, ordinary citizens, encounter everyday in the course of our daily lives. We are their regular victims. Need a Business Permit? A Construction Permit? A Tax Clearance? Clear from the Post Office a small item sent by a relative from abroad so you need a Customs Clearance? The corrupt people in the bureaucracy have weaponized all the requirements of government. But it is not only when you go to their offices that they attack you. They come to your store to inspect and fabricate all sorts of violations.” There’s more: “Millions of legitimate landowners have been victimized by Documentary Land Grabbers under a modus perfected by PENROs and CENROs that are conspiring

with Provincial/Municipal Assessors to fabricate fake Tax Declarations overlapping even titled properties and selling these to unsuspecting buyers. When the legitimate owner complains, they maneuver to have the plaintiff bring the matter to court where their lawyers will make sure that the case will go to corrupt judges and will remain unsettled for years.” Mr. Albano said almost all of us have our tales of outrage at these corrupt practices that are being foisted upon us by the bureaucracy. What to do? He said: “Make the people aware of these problems. Focus on just these, which we have been overlooking: the Civil Service-protected Bureaucracy.” Mr. Albano gives a stark and recent example: “In the early days of the pandemic, President Duterte added a regular feature to his weekly IATF televised program to announce the names of government employees who were caught guilty of corrupt practices. He proceeded by Department—different Department exposed every week. On screen, he would even modify the penalties, e.g. from suspension to outright termination, etc. A few months later, he publicly boasted that he ordered the termination of more than 60 Bureau of Customs employees…only to be corrected the following day by the Justice Secretary that these 60 plus 2. to proceed with the online filing for application of lump sum benefit and confirm his/her understanding that no other benefit is due thereafter except for funeral benefit. The member shall be required to certify that the information provided in his/her online filing of retirement benefit claim through the My.SSS Portal are true, correct, and accurate. The member, including any person/s involved, shall be held liable under all circumstances for any false information, misrepresentation, and fraud in accordance with Section 28 of Republic Act 11199 and other applicable laws. Retirement benefit claims filed online through the My.SSS portal, including uploaded supporting documents and online certification with undertaking, shall be subject to further validation/review and processing prior to approval for payment. The processing time shall start upon the acknowledgement of the online submission of member’s retirement benefit claim through the My.SSS portal with complete requirements, including the approved online certification by employer for employee-member as applicable. Members will experience the changes in functionality in phases, but they need not worry because email notifications shall be sent to them regarding the status their retirement benefit claims submitted online through the My.SSS portal such as: 1. acknowledgement of successful submission; 2. approval/disapproval/expiration of the request for online employer certification, as applicable in the case of employee-member;

3. approval/Rejection of claim; and/or 4. other notification/s as deemed necessary by the SSS. Retirement benefits shall be credited to the member’s UMID card enrolled as ATM or the preferred disbursement account in DAEM in the My.SSS portal, in accordance with applicable policies. Retirement benefit claims with any of the following conditions/cases shall be filed at any SSS BO/FRO if they have: 1. outstanding Stock Investment Loan Program (SILP)/Privatization Loan Program/Educational Loan/ Vocational Technology Loan balance; 2. dependent child/children under guardianship; 3. been confined in an applicable institution such as penitentiary, correctional institution or rehabilitation center, incapacitated, and under guardianship; 4. application of Portability Law or Bilateral Social Security Agreements; 5. request for adjustment or for re-adjudication of claim; and 6. unclaimed benefit of deceased member. It really pays off being an SSS member especially if you started working in the private sector when you’re still in your early or mid-20s. What you reap is what you sow and sometimes more than that when you start receiving your SSS pension. Have a productive week ahead!

in Chicago, and Rick Callahan in Indianapolis and photojournalist Charles Rex Arbogast contributed to this report

employment shall be considered in his/her retirement benefit claim and he/she understands that the SSS shall determine the handling of contribution/s not considered based on applicable policies. Please take note that the SE member’s reason for the said online certification shall only be because the posted contribution/s applicable after the month of cessation of business/self-employment was/were paid prior to cessation of business/ self-employment but applicable for month/s after the cessation of business/self-employment (i.e., advance payment). Moreover, SE members who are 60 to 64 years old as of date of retirement shall be required to execute an online certification with undertaking of his/her date of cessation of business/self-employment upon online submission of his/her retirement benefit claim through the My.SSS portal, in lieu of uploading and submission of documents as proof. On the other hand, VM and LandBased OFW members who are 60 to 64 years old as of date of retirement and with posted contribution/s applicable on and/or after the month of online filing of retirement benefit claim through the My.SSS portal (i.e., advance payment), per SSS record, shall have the following options before proceeding with the said online filing: 1. to refile the retirement benefit claim online after the applicable month of the last posted VM or Land-

Based OFW contributions; or 2. to confirm the deletion of the said contribution/s and that he/she understands that the SSS shall determine the handling thereof based on applicable policies. Members may also receive an on-screen notification to refile the retirement benefit claim online through the My.SSS portal on or after a specific month when his/her paid contributions for at least 120 months are prior to the semester of retirement, in order to qualify for pension benefit. They may be required, among others, to upload supporting document/s and/or execute an online certification with undertaking to proceed with the online filing of retirement benefit claim through the My.SSS portal, or may receive a notification to file at any SSS Branch Office (BO)/ Foreign Representative Office (FRO), for the following conditions/cases: 1. with dependent child/children; 2. racehorse jockey; 3. underground or surface mineworker; 4. disapproval/expiration of the request for online employer certification, as applicable in the case of employee-member; and/or 5. other conditions/cases as may be determined by the SSS. For those who are at least 60 years old and have paid less than 120 monthly contributions, they shall have the following options before proceeding with the online filing of retirement benefit claim through the My.SSSportal: 1. to cancel the online filing and continue paying contributions to qualify for pension benefits; or

torship. The academic oval was my solace as a student at the UP School of Economics from 1987 to 1991 and later at the UP College of Law from 1992 to 1998. After engaging in graphs, formulas and laws of supply and demand as an Economics major, I crossed the street to pursue my law degree. Traversing the path of legal education was hard to the exponential power. I was a working student then as a newspaper reporter by day before rushing to my evening classes.

“Serve the people. Do not betray your humanity,” says my professor and Supreme Court Associate Justice Marvic Leonen. It was also in UP that I became roommates with Buddy Zabala and Raymund Marasigan of Eraserheads for two years (1989 to 1991) at the Molave dorm. Because the band members often used our room to play their instruments and practice, I often ended up going out to study somewhere else, as I could not take the “noise”. As a supportive roommate, I watched

them perform during the annual UP Fair at the Sunken Garden at a time when they were just starting to make waves inside the campus. It was beyond my comprehension that the “noise” that I tried to avoid made them known as one of the most successful, critically acclaimed, and significant bands in OPM history. The oval is also home to the annual Lantern Parade, which was inspired by the folk practice of carrying lanterns of various shapes and sizes to light the way to the early

morning December masses or misa de gallo during the Spanish period. Ten years inside the university makes one cherish the concept of academic freedom. The campus molded us to fight for the causes we believe in; trained us for the skills we need to communicate ideas and rally others to effect changes in society. All educational institutions, including UP, must be maintained as safe havens for civilized and intelligent discourse of all beliefs and forms

of democratic expression, where students and teachers can discuss freely without fear of censorship or retaliation. The acacia trees will continue to be witnesses to UP’s existence as an institution with a critical eye on social and historical issues.

some privileged, clouted white guy called me stupid, I’d be a bazillionaire,” Lightfoot, who is Black, told WLS-TV. By evening, she had said she was optimistic with the latest proposal, which went to union leaders for a vote. Her first term in office has been marked by other battles with the influential union, which supported her opponent in the 2019 election, including a safety protocol fight last year and a 2019 teachers strike. Developments in the fight, with pending complaints before a state labor board, made international headlines and attracted attention from the White House. Press secretary Jen Psaki said Monday that President Joe Biden, who has pressed for schools to stay open, had remained in touch with Lightfoot and Illinois Gov. J.B. Pritzker during negotiations. Parents and advocacy groups also stepped up calls Monday for quicker action. A group of parents on the city’s West Side—near the intersection of largely Black and Latino neighborhoods—demanded students return immediately. Cheri Warner, the mother of 15-year-old twins, said the sudden loss of in-person learning has taken a toll on her family. One of her daughters has depression and anxiety, and winter is always difficult. Losing touch with her friends and teachers adds to that burden, Warner said. The girls “missed their whole eighth grade year and it felt like they weren’t really prepared for high school,” Warner said. “They’re all trying to figure out how to catch up and it’s a really stressful situation.” Other parents said the district needs to do more. Angela Spencer, an organizer with the Kenwood Oakland Community Organization and a nurse, said she’s concerned about her two kids’ safety in schools. Spencer said her kids’ schools weren’t adequately cleaned before the pandemic and she has “no confidence” in the district’s protocols now. Several families represented by the conservative Liberty Justice Center in Chicago, filed a lawsuit in Cook County over the closures, while more than 5,000 others signed a petition urging a return to in-person instruction. District officials, who call the union action “an illegal stoppage” had kept buildings open for student meal pickup and said that schools with enough staff were allowed to open their doors to students. Some teachers showed up despite union directives; district officials estimated about 16% of teachers did so Monday. Three schools, including Mount Greenwood Elementary, were able to offer instruction Monday, according to district officials. Parents at the largely white school on the city’s southwest side expressed relief. Associated Press writers Kathleen Foody

Recently, I received a letter from Mr. Alberto M. Albano, president of the Philippine Iron and Steel Institute (PISI), the umbrella organization of local steel producers and traders, explaining how we can help untangle the deep-rooted problem of corruption in the bureaucracy. Mr. Albano started by analyzing how the term of office of government officials—six years for the Executive Department; six years for senators; three years for congressmen; three years for local government elective posts; tenured up to retirement age of 65 for judges and 70 for justices in the Judiciary; and the tenure of office of the Civil Service-protected bureaucracy, which is tenured up to retirement age. “We have been brought up and brainwashed both by our environment and media that the “swamps” or “centers of corruption” are the Executive and the Legislative departments. True. There’s no denying that, and there’s also corruption in the LGUs,” Mr. Albano said. “But what we have overlooked for the longest time is corruption at the Civil Service-protected bureaucracy

SSS. . .

continued from A8

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Peyups is the moniker of the 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 0917-5025808 or 09088665786.

A10 Wednesday, January 12, 2022

VIRUS SURGE SHUTTERS CHURCHES, POEA OFFICES

HE unprecedented surge of Covid-19 cases in Metro Manila has led to the temporary closure of several Churches and a government office in the region. In its Facebook page, the Archdiocese of Manila reported that 45 percent of 93 parishes, shrines, chapels, basilica, personal parish, and santuario were shuttered due to Covid-related concerns. A mong the reasons for the closure some priests and Church personnel testing positive for Covid-19, and preventive measures to stop the spread of the Omicron variant of the Covid-causing severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The other reasons include clergy, personnel, and support staff getting their booster shots or swab tests, as well as the regular disinfection and sanitation of the Church and its premises. The 51 of such facilities in the Archdiocese of Manila remained open despite the higher alert level in the National Capital Region (NCR).

POEA suspends work in some offices

T he Phi l ippine O verseas

Employment Administration (POEA), meanwhile, reported that operations of some of its offices were temporarily suspended from January 11 to 14, 2022. “The temporary closure is implemented in compliance with Memorandum Circular (MC) No. 94, Series of 2022, issued by the Office of the President,” POEA said. MC 94 allowed the government offices to temporarily close its premises in case Covid-19 in the workplace becomes overwhelming and unmanageable. POEA noted the measure was in response to the increasing number of its employees, who were found to be positive with Covid-19 virus and in order to avoid the further spread of the virus. Among those affected by the closure are POEA’s Seabased Center, Land-based Center, Direct-Hire Assistance Division, Labor Market Development Branch, including the Office of the Deputy Administrator for Employment and Welfare and the Office of the Director for Pre-employment Services Office. Samuel P. Medenilla

PhilHealth ‘will pay’ claims, cites IT, manpower woes

By Jovee Marie N. dela Cruz

@joveemarie

MID the plan of private hospitals to disengage from the state health insurer, the Philippine Health Insurance Corp. (PhilHealth) on Tuesday vowed to pay hospital claims worth P25.45 billion within six months through its DebitCredit Payment Method (DCPM). During the briefing of the House Committee on Hea lt h chaired by Quezon Rep. Angelina “Helen” Tan on the reimbursement or payment of PhilHealth to hospitals, PhilHealth President Atty. Dante Gierran said the state insurer “have to pay these [claims] in 6 months’ time.” Gierran said all PhilHealth regional conciliation and mediation branches have already been instructed to closely and daily coordinate with its partner hospitals regarding the updates on the status of claims reimbursements and immediately address

their concerns. In the same briefing, Atty. Eli Dino Santos, Executive Vice President and Chief Operations Officer of PhilHealth, said the amount of P25.45 billion in claims is due for payment to hospitals through its DCPM, a mechanism adopted by PhilHealth to facilitate the settlement of accounts payable to Health Care Facilities (HCFs) during the State of Public Health Emergency due to the Covid-19 pandemic to ensure continuous delivery of health-care services. Santos said DCPM will allow the speedy release of funds to qualified hospitals nationwide that have signified intention to access the new payment mechanism while PhilHealth processed their claims. Under the DCPM, PhilHealth will initially pay an eligible HCF 60 percent of the amount of receivables, then pay the remaining 40 percent “following full compliance [with] existing claims processing requirements and procedures and full reconciliation of the 60 percent of the total amount of receivables initially paid to the [facility].” To date, Santos said PhilHealth had released three waves of payments, amounting to P12.06 billion, under the DCPM to 445 healthcare providers.

IT concerns

Gierran, meanwhile, pointed to PhilHealth’s lack of manpower as

well as information technology (IT) concerns as the cause of delay in the reimbursement of hospital claims amid the pandemic. For his part, Philippine Hospital Association president Dr. Jaime Almora said some hospitals are opposing the implementation of DCPM. “Hospitals are questioning why they have to apply for DCPM when the non-Covid [claims] were assessed through regular process, many of them [hospitals] want to go on regular process of claims,” he added. “This [DCPM] is in violation of ARTA [anti-red tape] law [as we are] being asked to provide additional requirements for the payment of claims,” Almora added.

‘Disengagement’

Also, Almora clarified that the planned “disengagement” of hospitals from PhilHealth over billions of pesos worth of unpaid claims means that private health-care providers will no longer lend money to PhilHealth for the payment of medical expenses by the Filipinos. He said, however, that they are willing to assist PhilHealth members who will directly shoulder the expenses for the reimbursement of claims from the agency. Earlier, Rep. Tan said the issue between PhilHealth and private hospitals will only unduly subject patients to pay the entire cost of hospitalization since hospitals will turn down deductions from PhilHealth. “What is now happening, in spite of all the efforts to avoid this outcome, is a total disregard of the fundamental principles that we sought to enshrine in the landmark Republic Act No. 11223, otherwise known as the Universal Health Care Act, primarily the provision that all Filipinos are guaranteed equitable access to quality and affordable health-care goods and services, and protected against financial risk,” she said. Meanwhile, Tan also urged

Comelec validation report on ‘hacking’ out before weekend By Samuel P. Medenilla @sam_medenilla

HE Commission on Elections is set to come out with a validation report on the alleged hacking of its server before the end of the week. In a radio interview on Tuesday, Comelec spokesperson James Jimenez said they already relayed the matter to their concerned departments to look into. “This morning, we started meeting with all our units about what really happened,” Jimenez said. “We want to know if there was really a data breach. For now, we have yet to get any evidence if there was really such a breach,” he added. The poll official issued the statement after an article published by Manila Bulletin on Monday claimed that hackers were able to download “60 gigabytes of data” from the Comelec server, which could compromise the conduct of the 2022 polls. The article claimed that among the downloaded files were network diagrams, Internet Protocol (IP) addresses, list of all privileged us-

ers, domain administrator credentials, passwords, domain policies, access to ballot handling dashboard, quick response (QR) code of the bureau of canvassers with login passwords. Jimenez expressed doubt that some of the files cited were indeed hacked, particularly pins, since, he noted such data still do not exist yet. He added that the defenses of their online system have been “hardened” after it was hacked in 2016, which led to a data leak that compromised the personal information of an estimated 55 million registered voters. The incident prompted Comelec to close down all its online applications and to have the Department of Science and Technology (DOST) host its web site. Jimenez reiterated they will consider legal action against the people behind the said article if the alleged hacking turned out to be false. However, he assured the public that if they learn there is indeed a hacking, they will hold accountable the Comelec personnel responsible for allowing such data breach.

hospitals to analyze the causes for the disapproved or denied claims and make use such information in the processing of future PhilHealth claims to improve reimbursement rate.

Social health insurance

Meanwhile, Tan said her committee has created a technical working group to further discuss House Bill 7429 or the “Social Health Insurance Crisis Act of 2020” filed by Marikina Rep. Stella Luz Quimbo. Quimbo said the bill gives the President the power to revamp and reorganize any or all segments of PhilHealth in order to make them more effective, efficient, and innovative in the provision of social health insurance. If passed into law, the measure will create a Joint Executive-Legislative Social Health Insurance Crisis Commission which is tasked to carry out all steps necessary towards the reorganization of PhilHealth. However, Gierran opposed the proposal, citing the mandate to reorganize PhilHealth under Republic Act 11223 also known as the “Universal Health Care Act” such as the outsourcing of certain functions to ensure operational efficiency subject with the provisions of Republic Act 9184, otherwise known as the “Government Procurement Reform Act.” He also stressed that the creation of the Joint Executive-Legislative Social Health Insurance Crisis Commission is no longer necessary inasmuch as the law already provides for a Joint Congressional Oversight Committee on Universal Health Care to conduct a regular review. This shall entail a systematic evaluation of the performance, impact or accomplishments and the performance of the various agencies involved in realizing universal health care, particularly with respect to their roles and functions.

Keep Odette victims safe from Covid –UniTeam

LARMED by the resurgence of Covid-19 cases in most parts of the country, presidential aspirant Ferdinand “Bongbong” Marcos Jr. and his running mate Davao City Mayor Inday Sara Duterte urged local officials in areas devastated by Typhoon Odette to ensure that health protocols are strictly observed in evacuation centers housing thousands of victims. The call was made after the Health department reported a record number of new cases in the past days with the more transmissible Omicron variant now considered the dominant strain. “Let’s not add to their misery. Let’s make sure Covid won’t penetrate evacuation centers. This will mean a bigger problem,” said the BBM-Sara UniTeam, speaking mostly in Filipino. The BBM-Sara UniTeam also called on local government units to regularly disinfect temporary shelters and provide necessary health and hygiene kits, hand wash soaps, alcohols and face masks. “Besides enduring their conditions are alright, it’s important to ensure they’re safe from Covid-19. See “Odette victims,” A7

Companies

Editor: Jennifer A. Ng

Wednesday, January 12, 2022

Aboitiz unit seeks approval of SEC for ₧10-B bond float

By Lenie Lectura

@llectura

boitiz Power Corp. is seeking the green light of the Securities and Exchange Commission (SEC) for the issuance of up to P10 billion in fixed-rate retail bonds. The amount represents the third tranche of the P30 billion fixed-rate retail bonds registered last March 1, 2021, under the shelf registration program of the commission. “The Third Tranche Bonds, with an aggregate principal amount of P10 billion, including oversubscription, is expected to be issued on one or two series in the first quarter of 2022,” it said.

The bonds will be listed on the Philippine Dealing and Exchange Corp. Proceeds would be utilized to raise capital to refinance AboitizPower’s previously issued bonds, pay for the construction of renewable projects, and other general purposes. The power firm appointed BDO Capital & Investment Corp., China

Bank Capital Corp., and First Metro Securities Brokerage Corp. as joint lead underwriters and joint bookrunners. In November, AboitizPower reported that it posted a net income of P15.7 billion in January to September, P5.6 billion of which was registered in the third quarter of 2021. The power firm’s nine-month net income rose by 124 percent compared to the same period a year ago. Third-quarter numbers were 70 percent higher at P5.6 billion versus a year ago. The power firm attributed the strong performance to commissioning revenue from GNPD Unit 1, higher water inflow from its hydroplants; higher availability of the Thermal Luzon Inc., Therma South Inc. and Therma Visayas Inc. facilities; and higher WESM dispatch. Also, the power firm was able to

claim damages for the delay in the construction of GNPD Unit 1 and received final payment for business interruption claims resulting from GNPower Mariveles Center Ltd. Co. and AP Renewables Inc. outages in previous years. Moreover, electricity demand increased during the period after the government relaxed quarantine restrictions. The power firm has lined up a number of new power projects, which are already in various stages of development. In addition to these new projects, the company’s baseload plants have been performing well above benchmark targets for availability and reliability. Its goal is to end with 9,200megawatts (MW) of total attributable net sellable capacity in the next decade. Of which, 4,600MW will come from various renewable energy sources.

PSEi seen hitting 8,100 by year-end

This BusinessMirror file photo shows brokers working at the trading floor of the Philippine Stock Exchange in Bonifacio Global City in Taguig. By VG Cabuag

Meralco: 3 power firms keen on CSP T T hree power firms are interested to participate in the competitive auction for the supply of 170 megawatts (MW) to the Manila Electric Company (Meralco). “The TPBAC [Third-Party Bids and Awards Committee] received expressions of interest from three interested bidders. The aggregate offered capacity totaled 270MW,” Meralco utility economics head Lawrence Fernandez said via text message. The identities of the interested bidders were not revealed, pending the results of the auction next month.

The committee has scheduled a pre-bid conference on Wednesday. “Everything is so far on schedule for the bid submission and opening on February 2,” said Fernandez. The power supply contract will cover the period February 26, 2022 to July 25, 2022. The company thanked the Department of Energy (DOE) last December for the timely approval of the terms of reference for this round of competitive selection process (CSP) that allows the distributor to proceed with the emergency power procurement.

Meralco Head of Regulatory Management Office Jose Ronald V. Valles had said this will “help Meralco ensure availability of reliable and cost-competitive supply, which is especially critical during the 2022 dry months and the upcoming National and Local Elections.” The company is anticipating a peaking capacity deficit of 260MW, of which 90MW was already secured through the Contract for the Supply of Electric Energy it inked earlier with the Power Sector Assets and Liabilities Management

Corp., from September 2021 to July 25, 2022. The reasons for the deficit include persistent Malampaya gas restrictions, the recently concluded maintenance shutdown of the Malampaya gas facility, and anticipated thinning electricity operating margins leading up to the May 2022 elections. The need for Meralco to source additional peaking capacity through bilateral power supply contracts is also necessary to reduce customers’ exposure to the Wholesale Electricity Spot Market. Lenie Lectura

Smart ties up with Samsung

Philex, labor union agree on new CBA

ma rt Com mu n ic at ion s Inc. has tapped Samsung to “drive the development” of 5G Standalone (5G-SA) technology in the Philippines. “5G SA, as an innovation platform, will create new opportunities for enterprises and consumers that will maximize its ultra-reliable and low latency capabilities, enabling industrial automation, autonomous mobile robotics deployment, safe remote crane operations, fast response in gaming and interactive video streaming, among others,” Smart Head of Technology Mario G. Tamayo said. For his part, Samsung Philippines President James Jung said 5G SA technology paves the way for a variety of new industry applications that utilize 5G’s full features, enabling super-fast response times and faster access to higher data rates that are required by cloud gaming, or immersive media, for example. “For the 5G future of Philippines to be fully realized, we need to accelerate the rate of deployment for more use cases and new applications to thrive. With 5G networks expanding across the globe, people are now experiencing the impact 5G can have on the mobile experience. At Samsung, we continue to expand our 5G-enable devices so more Filipinos can experience the power of next-generation 5G connectivity and enable them to share more, play more, and do more, faster,” he said. Lorenz S. Marasigan

@villygc

he benchmark 30-company Philippine Stock Exchange index (PSEi) is projected to hit 8,100 points by year-end on the back of positive investor sentiment and attractive valuation. Cristina Ulang, research head at First Metro Investment Corp., said corporate earnings are likely to increase by 35 percent in 2022, faster than last year’s 28 percent. The local market’s price to earnings (PE) ratio will improve in 2022 and 2023, but are expected to fall to 16.9 times and 13.9 times, respectively from last year’s 23.9 times. “Stock selection will be critical and investors should focus on stocks that can withstand inflation and the rising cost of raw materials; will benefit in an election year; have very strong balance sheet; will do well in a high interest rate environment; and have the ability to declare superior dividends,” the investment bank said. Ulang said her projection that the main index will reach 7,400 by the end of 2021 may have been achieved if not for the devastation caused by Typhoon Odette and the spread of the omicron variant of Covid-19. The benchmark index reached a high of 7,441.67 points in December last year, but it declined and

settled at 7,122.63 points by the end of 2021. The upside for the year is the national elections in May. An election year traditionally boosts the economy by 1 to 2 percent. “This is an entirely different ballgame for election because of mobility concerns, but that is not to say that there is no incremental benefit for the economy, because this is extra spending that is very extraordinary compared to the regular years,” Ulang said. Ulang said the target corporate earnings of 35 percent largely depend on how the government will react to the Covid-19 restriction levels and on how the country will re-open its economy. She said the sectors that may see growth this year include infrastructure, e-commerce, renewable energy, telecommunications and real estate investment trusts (REITs) which are growing faster than their parent firms. “If you look at the [share price] performances of the REITs versus the parent, you’ll be surprised that the REITs have performed extremely well, like 80 percent at the most for Areit [Inc.]. These are the numbers that we haven’t seen before right after the IPO [initial public offering]. But look at the parent [firms], they are all down. So the REIT is the new asset class to invest in.”

8 power firms get nod to conduct SIS—DOE Philex's Padcal mine in Benguet. Photo from www.philexmining.com.ph

hilex Mines Independent Labor Union, the rank-andfile union of Philex Mining Corp., has reached a deal with the listed company, preventing a labor strike in its Padcal mines in Benguet. The union said in a statement that it voted last week to accept management’s improved proposal on the economic terms of the collective bargaining agreement (CBA) negotiated under the supervision of the Department of Labor and Employment (DOLE) through its conciliation and mediation services. “We are thankful to our rankand-file union for eventually voting to accept our improved offer and ensuring that industrial peace is maintained, especially during these uncertain times when the pandemic still rages. We are also grateful to the DOLE NCMB [National Conciliation and Mediation Board] Regional and Central Offices for their timely intervention and relentless effort to

help broker this agreement,” Eulalio B. Austin Jr., Philex president and CEO, said. Late in December last year, Philex’s union voted to go on strike after talks for a new CBA bogged down. During the cooling-off period, the DOLE-NCMB-Cordillera Administrative Region and Philex’s central office stepped in to avert a work stoppage that could affect thousands of workers and other people dependent on the operation of Padcal, currently the biggest producer of copper and gold in the country. Padcal Mine was earlier scheduled to cease operations this year but its mine life was extended to 2024 because of higher world prices of copper and gold. Studies are underway to further extend the life of Padcal, which has been in operation for six decades. With the key terms already agreed, Philex shall finalize and

execute the CBA with its union and its about 1,200 members. This follows an earlier concluded CBA the company had with Philex Mines Supervisors Employees Union in 2021. Qualified workers in Padcal and who are willing to move to Surigao del Norte will also be offered a job in Philex’s Silangan Project, currently among the biggest copper and gold mining development in the country. Philex will spend $224 million for the development of a starter mine in Silangan under the in phase development plan of phase one, which is expected to go on commercial operation in early 2025 and will have a mine life of 21 to 28 years. The project is expected to generate 8,000 direct and indirect employment and help in the further development of the four towns straddled by the mining claim—Placer, Tagana-an, Tubod and Sison. VG Cabuag

ight power firms were allowed to conduct a system impact study (SIS) on their proposed power projects with a combined capacity of over 5,000 megawatts (MW). Data from the Department of Energy (DOE) website showed that Petrongreen Energy Corp. will put up three offshore wind power projects—2,000MW in Ilocos Norte, 1,000MW in Occidental Mindoro and Batangas, and 500-1000MW in Iloilo and Guimaras. Ahunan Power Inc., meanwhile, will put up 1,400MW hydro power project in Laguna. The other projects are the 200MW wind power of Alternergy Sembrano Wind Corp.; 150MW battery energy storage system of Ingrid5 Power Corp. in Rizal; 59MW solar power project of Sinocalan Solar Power Corp. in Pangasinan; 38MW solar power project of Sindicatum C-Solar Power, Inc. in Tarlac; 26MW solar power of Trustpower Corp. in Pampanga; and the 17MW binary geothermal power project of

AP Renewable Inc. in Albay. According to the Energy Regulatory Commission (ERC), SIS is an assessment conducted by the Transmission Network Provider or System Operator in addition to the Grid Impact Studies (GIS) prepared by it in accordance with the Philippine Grid Code. This study is necessary to determine the adequacy of the grid and its capability to accommodate a request for power delivery service; and the costs, if any, that may be incurred in order to provide power delivery service to a transmission customer. The GIS is a set of technical studies, which are used to assess the possible effects of a proposed expansion, reinforcement, or modification of the grid or a user development and to evaluate significant incidents. These projects have been given certificates of endorsement to the National Grid Corporation of the Philippines for clearance to undertake SIS. The certificates were issued last month. Lenie Lectura

Companies BusinessMirror

Wednesday, January 12, 2022

Sangley airport consortium gets OPS from Cavite govt

By Lorenz S. Marasigan

@lorenzmarasigan

he provincial government of Cavite has awarded the original proponent status (OPS) to SPIA Development Consortium for the $10.9-billion unsolicited proposal to develop the Sangley Point International Airport (SPIA). In a statement, the consortium said the certificate of acceptance was sent to the consortium on January 7, quoting Governor Jonvic Remulla as saying that the “acceptance of the unsolicited proposal is a clear sign of the Province’s commitment to deliver this nationally significant and legacy project to the Filipino people.”

Being granted the OPS enables the consortium to directly negotiate the final terms and conditions of the joint venture with the province. It also allows the consortium to match the best counter proposal that may be received during the 60day mandatory competitive challenge process.

NGCP places Luzon grid under yellow alert

SPIA Development Consortium submitted the proposal last November, a few days after the Cavite government declared a second failed auction for the project. The consortium is a partnership among the following companies: Yuchengco Group of Companies, MacroAsia Corp., Samsung C&T Corp., Munich Airport International GmbH, and Cavitex Holdings Inc., an entity that is not related to the Metro Pacific group. The proposal of the consortium involves the development of the SPIA in two phases. Phase 1A involves the development of the first runway and terminal building that can handle up to 15 million passengers per annum. It has a price tag of $2.3 billion. Phase 1B, meanwhile, will expand the airport’s capacity to 25 million passengers per year through a $2-billion investment.

The second phase, meanwhile, will cost $6.6 billion. It involves the construction of a second runway and the expansion of the airport’s capacity to 75 million passengers per annum. The consortium said as soon as the project has been awarded, it will be “ready to transform Sangley airport into a premium gateway that can provide an alternative to the congested Ninoy Aquino International Airport, thereby significantly boosting economic growth and enhancing the local tourism and aviation industries.” After final planning, design and financial closing, the consortium said the work would immediately begin with the construction of a 4.6-kilometer connector road from the Kawit Interchange of Cavitex that would lead to Sangley, with the time of completion estimated at two years.

mutual funds

NAV One Year Three Year Five Year per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

228.11

-1.61%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6188

21.13%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1681

-0.81%

-4.96%

-2.31%

-2.14%

2.47%

3.65%

-2.73%

-8.56%

-5.03%

-2.15%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7535 -7.4%

-7.33% n.a.

-0.4%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7545 1.09%

-4.97% n.a.

-2.13%

5.0732

0.56%

-3.35%

-0.36%

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

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

0.7646

-0.93%

-4.89%

MBG Equity Investment Fund, Inc. -a

93.98

-7.5%

PAMI Equity Index Fund, Inc. -a

46.8467

Philam Strategic Growth Fund, Inc. -a Philequity Alpha One Fund, Inc. -a,d

-2.11% -0.48%

-2.02%

-3.76%

-0.73%

-2.66%

489.98

-1.76%

-3.54%

-1.18%

-2.14%

1.1392

1.91% n.a. n.a.

-2.02%

Philequity Dividend Yield Fund, Inc. -a

1.3481

12.82%

0.57%

1.89%

-0.6%

Philequity Fund, Inc. -a

35.7986

0.5%

-2.72%

0.33%

-2.18% -2.26%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9201

-1.59%

-4.17% n.a.

Philequity PSE Index Fund Inc. -a

4.8293

-1.25%

-3.08%

-0.19%

-2.65%

Philippine Stock Index Fund Corp. -a

806.61

-1.43%

-3.08%

-0.23%

-2.64%

Soldivo Strategic Growth Fund, Inc. -a

0.7362

0.52%

-6.78%

-3.08%

-2.18%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6845

-0.34%

-5.05%

-1.58%

-2.41%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9192 -1.89%

-3.42%

-0.44%

-2.68%

United Fund, Inc. -a

-3.41%

0.36%

-2.31%

-2.85%

0.25% -2.63%

3.358

-0.67%

ALFM

-3.72% -2.39%

-7.66% n.a.

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 108.5422

-1.14%

Primarily invested in foreign currency securities

By Lenie Lectura @llectura

he Luzon grid was placed on yellow alert for the second consecutive day this year. The National Grid Corporation of the Philippines (NGCP) issued the notice on Tuesday, placing the grid on yellow alert from 10 a.m. to 11 a.m. and from 1 p.m. to 8 p.m. due to insufficient operating reserve. The grid’s available capacity stood at 10,278MW while operating requirement was at 9,526MW, leaving a margin of 388MW only.

This was mainly due to the forced outage incidents of GNDP Unit 1 (668MW), GN Power Unit 2 (316MW), Calaca Unit 2 (300MW), and Avion 1 (47MW). Also, the derated power plants contributed to the grid’s thin supply. These are the Ilijan, derated by 505MW; Masinloc Unit 2, by 39MW; Magat, by 180MW; San Gabriel, by 210MW. In all, 2,265MW were shaved off the Luzon grid. These are same plants that were reported to have derated capacities and went on forced shutdown last January 10. NGCP is a privately owned corporation in charge of operating, maintaining, and developing the country’s state-owned power grid, an interconnected system that transmits gigawatts of power at thousands of volts from where it is made to where it is needed.

$1.1262

-11.08%

5.86%

5.53%

-0.03%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7974

ATRAM AsiaPlus Equity Fund, Inc. -b

5.77%

15.69%

11.29%

-2.65%

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

1.6781

-1.21%

-0.79%

-0.71%

-0.82%

ATRAM Philippine Balanced Fund, Inc. -a

2.2549

-2.74%

-0.54%

-0.42%

-1.17%

First Metro Save and Learn Balanced Fund Inc. -a 2.6586

-0.08%

-0.03%

1.07%

-1.2%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2092

4.03% n.a. n.a. 0.1%

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

1.9907

0.22%

1.54%

1.57%

-1.29%

PAMI Horizon Fund, Inc. -a

3.7192

-2.94%

1.19%

0.43%

-1.22%

Philam Fund, Inc. -a

16.6372

-2.91%

0.68%

0.35%

-1.24%

Solidaritas Fund, Inc. -a

2.0943

-1.26%

-0.83%

0.2%

-1.28%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5889 -0.83%

-1.89%

-0.34%

-1.6%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9749

-5.57% n.a. n.a.

-1.51%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9265

-3.89% n.a. n.a.

-1.91%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9142

-3.68% n.a. n.a.

Sun Life Prosperity Dynamic Fund, Inc. -a

0.9403

4.11%

-0.7%

0.02%

-2.11% -1.46%

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

$0.03733

-3.84%

1.77%

1.06%

-1.61%

PAMI Asia Balanced Fund, Inc. -b

$1.0602

-10.5%

3.94%

3.44%

-0.65%

3.1%

11.14%

8.31%

-1.94%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1804 - 0.67%

5.93%

4.2%

-1.52%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7088

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

374.49

0.96%

2.89%

2.58%

0.05%

ATRAM Corporate Bond Fund, Inc. -a

1.8851

-0.85%

0.56%

-0.06%

0.02%

Cocolife Fixed Income Fund, Inc. -a

3.2458

0.96%

2.93%

3.88%

0.06%

Ekklesia Mutual Fund Inc. -a

2.2533

-1.84%

1.82%

1.5%

0.08%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4261 -1.02%

3.09%

1.88%

Philam Bond Fund, Inc. -a

1.51%

0.05% 0.06%

4.3977

-4.98%

4.92%

Philam Managed Income Fund, Inc. -a

1.3199

-0.02%

3.9%

2.85%

Philequity Peso Bond Fund, Inc. -a

3.9706

-0.31%

3.9%

2.64%

0.12%

Soldivo Bond Fund, Inc. -a

1.0285

-1.02%

4.66%

1.98%

0.03%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1828

-0.54%

4.53%

3.23%

-0.14%

Sun Life Prosperity GS Fund, Inc. -a

-1.11%

3.67%

2.6%

-0.09%

1.7291

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

$488.96

1.17%

2.89%

2.44%

ALFM Euro Bond Fund, Inc. -a

Є219.68

0.13%

1.13%

0.97%

-0.15%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1976

-5.46%

1.94%

1.6%

-0.52%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 -1.9%

-0.12%

1.19%

0.79%

-0.77%

-0.83%

-0.86%

-1%

-2.07%

4.03%

2.32%

-1.68%

0.01%

2.97%

1.96%

-0.05%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1172 -2.87%

2.7%

1.08%

-2.47%

PAMI Global Bond Fund, Inc -b

$1.0126

-6.95%

Philam Dollar Bond Fund, Inc. -a

$2.4636

Philequity Dollar Income Fund Inc. -a

$0.062258

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

2.56%

0.03%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0582 0.97% n.a. n.a.

131.23

1.05%

0.05%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3162

0.05%

1.47%

2.74% 2.55%

2.53%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0607

0.76%

1.43% n.a.

0.01%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.381

19.76% n.a. n.a. -0.14%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d

$0.96

-3.03% n.a. n.a.

PSE STOCK QUOTATIONS

January 11, 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 CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL IREMIT MEDCO HLDG MANULIFE PHIL STOCK EXCH SUN LIFE VANTAGE

5,300 232,780 1,605,020 198,648,007 1,752,590 166,064,238.50 17,600 447,715 100 844 249,000 2,335,381 5,759,840 322,162,950 100 915 1,700 29,600 52,800 1,057,105 780 43,544 68,500 1,367,874 962,720 108,022,320 58,190 5,733,117.50 1,000 1,610 104,000 421,740 28,000 22,680 30,000 8,850 70 66,240 70 14,882 5 13,250 31,000 25,110

-12,001,880 17,103,477.50 -22,865 90,048 81,639,296 3,480.00 -36,110 -818,208 -834,672.50 6,306 -

INDUSTRIAL AC ENERGY 9.15 9.27 9.64 9.66 9.15 9.15 25,877,800 241,255,589 ALSONS CONS 1.07 1.08 1.06 1.06 1.05 1.05 47,000 49,650 ABOITIZ POWER 29.9 30.05 30.35 30.35 29.6 30.05 848,100 25,372,765 0.53 0.54 0.55 0.56 0.53 0.54 2,328,000 1,267,430 BASIC ENERGY FIRST GEN 28.05 28.15 28.35 28.35 28 28.15 267,700 7,521,085 FIRST PHIL HLDG 70 71 71.6 71.7 70 70 8,950 628,056 MERALCO 304 306.2 306 306.4 303 306.2 192,230 58,813,180 24.9 24.95 24.85 25.55 24.3 24.95 1,805,000 45,482,695 MANILA WATER 3.24 3.25 3.25 3.25 3.2 3.25 305,000 986,580 PETRON 10.6 10.84 10.54 10.84 10.54 10.84 10,500 113,200 PHX PETROLEUM SYNERGY GRID 12.9 12.92 13 13.1 12.86 12.92 1,068,700 13,867,244 PILIPINAS SHELL 18.98 19 19.1 19.12 18.98 19 194,300 3,696,686 13.84 13.86 13.84 13.86 13.8 13.84 123,800 1,711,342 SPC POWER 1.32 1.33 1.32 1.37 1.3 1.33 321,231,000 429,493,550 SOLAR PH AGRINURTURE 4.64 4.8 4.85 4.92 4.6 4.8 256,000 1,212,350 AXELUM 2.81 2.87 2.88 2.9 2.8 2.85 525,000 1,488,120 12.98 13.68 12.94 13 12.94 12.98 1,800 23,360 CNTRL AZUCARERA CENTURY FOOD 27.3 27.4 27.5 28 27.3 27.3 906,900 24,915,075 14.8 15 15 15 14.8 15 9,400 139,888 DEL MONTE DNL INDUS 8.7 8.97 8.97 9 8.7 8.97 771,100 6,810,180 EMPERADOR 19.78 19.8 19.82 19.86 19.66 19.8 2,564,000 50,790,990 69 69.5 71.2 71.2 69 69.5 120,230 8,336,269.50 SMC FOODANDBEV 0.6 0.62 0.6 0.6 0.6 0.6 3,000 1,800 ALLIANCE SELECT FRUITAS HLDG 1.14 1.16 1.15 1.17 1.13 1.15 2,207,000 2,525,450 GINEBRA 111.1 112 112 112.9 110 112 38,130 4,261,992 219 220.4 222 222.8 216 220.4 692,030 152,431,094 JOLLIBEE 1.24 1.25 1.18 1.27 1.18 1.25 13,713,000 16,983,850 KEEPERS HLDG 6.36 6.4 6.32 6.4 6.32 6.4 35,700 226,460 MAXS GROUP MG HLDG 0.147 0.15 0.146 0.146 0.146 0.146 1,010,000 147,460 MONDE NISSIN 15.68 15.78 15.94 16.02 15.64 15.68 15,707,200 248,037,430 9.8 9.85 10.04 10.06 9.8 9.85 1,971,200 19,425,016 SHAKEYS PIZZA 0.62 0.63 0.63 0.64 0.61 0.63 1,943,000 1,208,050 ROXAS AND CO RFM CORP 4.61 4.65 4.61 4.62 4.61 4.62 2,000 9,230 SWIFT FOODS 0.101 0.107 0.1 0.101 0.1 0.101 450,000 45,040 126.8 127.3 127.7 128.4 126.8 126.8 1,349,340 171,631,639 UNIV ROBINA 0.7 0.72 0.71 0.72 0.7 0.72 189,000 133,740 VITARICH CONCRETE B 46.2 57.65 57.7 57.7 57.7 57.7 60 3,462 CEMEX HLDG 1.02 1.03 1.03 1.03 1.02 1.02 702,000 717,870 EAGLE CEMENT 14.8 14.88 14.8 14.9 14.68 14.8 803,300 11,888,932 6.33 6.48 6.4 6.48 6.33 6.33 44,900 286,472 EEI CORP HOLCIM 5.34 5.52 5.5 5.52 5.33 5.52 65,000 354,111 MEGAWIDE 5.04 5.05 5.01 5.05 5.01 5.05 297,600 1,498,617 PHINMA 19.86 20.25 20 20 20 20 32,100 642,000 0.78 0.79 0.77 0.78 0.77 0.78 21,000 16,270 TKC METALS VULCAN INDL 0.81 0.82 0.8 0.84 0.8 0.82 542,000 447,970 CROWN ASIA 1.69 1.73 1.7 1.73 1.68 1.68 58,000 98,350 EUROMED 1.34 1.5 1.5 1.5 1.45 1.5 35,000 52,200 PRYCE CORP 5.74 5.84 5.7 5.9 5.61 5.85 109,900 629,500 20.15 20.95 20.05 20.95 20.05 20.95 12,700 260,215 CONCEPCION 2.17 2.21 2.2 2.26 2.15 2.21 4,494,000 9,795,690 GREENERGY INTEGRATED MICR 9.4 9.43 8.88 9.45 8.88 9.43 3,052,300 28,218,201 PANASONIC 5.72 6 6 6 6 6 800 4,800 1.08 1.09 1.08 1.09 1.08 1.09 57,000 62,060 SFA SEMICON CIRTEK HLDG 3.56 3.57 3.61 3.65 3.57 3.57 1,443,000 5,171,540

-41,042,299 -13,253,230 6,400,175 123,155 10,381,794 -14,325,315 -171,740 -603,562 -3,383,090.00 145,100 -1,633,250 -233,110 371,845 -74,000 849,423 35,301,372 -5,939,544 1,140 -734,700 -41,557,750 633,200 13,926 39,934,310 -8,735,112.00 -724,990 -89,161,224 -4,080 11,727,436 54,982 -126,315 4,513,100 5,412,072 -307,090

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

435,190 2,680 -44,667,765 -14,413,257 8,514,480 -34,320 883,786 -10,912,395 -75,427,320 18,167,797.50 -174,900 -211,591 2,178,630 -97,257,805 -4,823,222 -

HOLDING & FRIMS

January 11, 2022

www.businessmirror.com.ph

43.8 122.5 94.3 25.45 6.74 9.38 55.8 8.81 17.42 20 55.8 19.96 112.2 98.95 1.56 4.1 0.8 0.29 905.5 210.2 2,602 0.8

0.87 5.35 833 58.5 11.76 7.71 0.87 0.405 5.13 7.93 7.5 532 58 0.63 3 9.92 3.9 1.16 930 110.5 123.1 0.23

44.55 123.5 94.9 25.5 8.44 9.39 56 9.13 17.74 20.1 57.45 19.98 112.5 99 1.61 4.11 0.89 0.315 946 212 2,650 0.89

0.88 5.41 837 58.75 11.8 7.8 0.92 0.41 5.15 7.95 7.78 532.5 58.75 0.66 3.1 9.93 3.94 1.24 934 111 126.9 0.249

44.7 125 94.5 25.35 8.44 9.38 55 9.15 17.42 20 55.9 19.98 111 99.9 1.61 4.05 0.81 0.285 946.5 215.8 2,650 0.81

0.89 5.41 842 58.5 11.9 7.7 0.92 0.405 5.12 8.09 7.5 528 58.2 0.63 3.03 9.78 3.86 1.29 940 111.7 126.9 0.23

44.7 125.8 95.45 25.6 8.44 9.39 56.5 9.15 17.42 20.1 55.9 19.98 113.2 100 1.61 4.11 0.81 0.315 946.5 215.8 2,650 0.81

0.9 5.41 864 59.75 11.94 7.8 0.92 0.405 5.19 8.14 7.5 535.5 58.85 0.66 3.09 9.92 3.97 1.29 948 111.7 126.9 0.23

43.85 122 93.1 25.35 8.44 9.37 55 9.15 17.4 20 55.8 19.96 110.5 96 1.61 4.05 0.81 0.285 946 210.2 2,650 0.81

0.86 5.35 833 58.05 11.68 7.7 0.92 0.405 5.1 7.93 7.5 526 57 0.63 3 9.71 3.86 1.15 926 110.3 126.9 0.23

44.55 122.5 94.9 25.5 8.44 9.38 55.8 9.15 17.4 20 55.8 19.96 112.5 98.95 1.61 4.11 0.81 0.315 946 210.2 2,650 0.81

0.88 5.35 833 58.5 11.76 7.8 0.92 0.405 5.13 7.93 7.5 532.5 58.75 0.66 3 9.92 3.9 1.24 930 111 126.9 0.23

3,446,000 3,023,840 2,700 14,476 368,590 310,606,160 2,901,020 170,366,454.50 2,272,100 26,770,198 18,200 141,237 2,000 1,840 300,000 121,500 893,400 4,579,691 5,279,000 42,561,744 600 4,500 512,450 272,160,915 2,777,410 162,327,060.50 98,000 61,800 89,000 268,830 715,500 7,048,961 13,124,000 51,449,100 64,000 79,610 388,200 362,410,460 118,090 13,086,204 298,000 37,816,200 20,000 4,600

PROPERTY ARTHALAND CORP 0.61 0.64 0.61 0.64 0.61 0.64 35,000 21,560 AYALA LAND 34.15 34.45 34.45 34.5 34 34.45 11,470,500 393,756,150 AYALA LAND LOG 6.19 6.2 6.35 6.39 6.18 6.19 2,294,400 14,337,767 0.98 1 1.02 1.02 1 1 4,000 4,040 ARANETA PROP AREIT RT 50.15 50.2 50 50.5 49.8 50.2 1,111,900 55,792,024.50 A BROWN 0.76 0.79 0.79 0.79 0.76 0.79 802,000 616,000 CITYLAND DEVT 0.72 0.74 0.72 0.72 0.72 0.72 115,000 82,800 0.096 0.101 0.096 0.101 0.096 0.101 11,010,000 1,057,010 CROWN EQUITIES CEB LANDMASTERS 2.9 2.91 2.83 2.91 2.81 2.91 264,000 753,330 0.395 0.4 0.395 0.4 0.39 0.4 640,000 254,550 CENTURY PROP DOUBLEDRAGON 7.03 7.07 7.08 7.1 7.03 7.07 136,300 961,086 DDMP RT 1.78 1.79 1.79 1.8 1.78 1.79 6,292,000 11,257,320 6.68 6.7 6.7 6.7 6.68 6.7 53,000 354,682 DM WENCESLAO EVER GOTESCO 0.31 0.315 0.315 0.32 0.31 0.315 3,530,000 1,110,600 FILINVEST RT 7.69 7.7 7.65 7.7 7.65 7.7 524,100 4,033,305 FILINVEST LAND 1.1 1.11 1.1 1.1 1.09 1.1 8,019,000 8,817,450 0.92 0.94 0.97 0.97 0.92 0.92 1,373,000 1,284,500 GLOBAL ESTATE 8990 HLDG 11.74 11.78 11.46 11.78 11.26 11.78 10,797,500 124,302,392 1.13 1.14 1.14 1.15 1.13 1.13 102,000 116,300 PHIL INFRADEV KEPPEL PROP 3 3.36 3 3 2.95 2.95 5,000 14,950 MEGAWORLD 3.09 3.1 3.13 3.14 3.08 3.1 6,373,000 19,789,390 0.226 0.227 0.228 0.23 0.225 0.227 3,560,000 809,510 MRC ALLIED 19.46 19.48 19.5 19.5 19.46 19.48 802,200 15,630,086 MREIT RT OMICO CORP 0.34 0.35 0.34 0.34 0.34 0.34 30,000 10,200 PHIL ESTATES 0.495 0.5 0.5 0.51 0.495 0.5 714,000 356,965 2.1 2.12 2.08 2.12 2.04 2.12 1,650,000 3,424,770 PRIMEX CORP 8.23 8.26 8.18 8.26 8.13 8.26 5,058,100 41,527,157 RL COMM RT 18.02 18.3 18.08 18.3 17.98 18.3 1,008,700 18,271,074 ROBINSONS LAND PHIL REALTY 0.201 0.21 0.201 0.201 0.201 0.201 20,000 4,020 ROCKWELL 1.47 1.51 1.45 1.47 1.45 1.47 17,000 24,860 2.58 2.62 2.61 2.62 2.58 2.58 56,000 146,100 SHANG PROP 2.69 2.84 2.84 2.84 2.84 2.84 201,000 570,840 STA LUCIA LAND SM PRIME HLDG 33.55 34 33.8 34.65 33.55 33.55 5,443,800 184,515,860 VISTAMALLS 3.62 3.69 3.62 3.69 3.62 3.69 2,000 7,310 1.07 1.08 1.09 1.09 1.05 1.08 229,000 245,250 SUNTRUST HOME 3.44 3.46 3.46 3.5 3.44 3.46 91,000 315,310 VISTA LAND SERVICES ABS CBN 12.8 12.82 12.8 12.96 12.74 12.8 85,400 1,098,156 GMA NETWORK 14 14.02 13.68 14 13.66 14 411,600 5,712,256 MANILA BULLETIN 0.415 0.43 0.43 0.435 0.42 0.42 140,000 60,500 9 10.5 10.5 10.5 10.5 10.5 1,200 12,600 MLA BRDCASTING GLOBE TELECOM 3,268 3,300 3,240 3,318 3,238 3,300 80,475 263,774,490 PLDT 1,845 1,848 1,823 1,850 1,821 1,848 94,875 174,290,120 APOLLO GLOBAL 0.07 0.071 0.073 0.073 0.07 0.07 191,490,000 13,507,770 30.5 30.85 32 32.2 30.5 30.5 6,420,600 198,356,495 CONVERGE 2.33 2.38 2.41 2.41 2.38 2.38 75,000 179,310 DFNN INC DITO CME HLDG 4.92 4.94 5 5 4.91 4.92 5,395,000 26,654,930 IMPERIAL 1.41 1.63 1.41 1.41 1.41 1.41 2,000 2,820 NOW CORP 1.17 1.2 1.18 1.22 1.16 1.2 256,000 305,190 0.31 0.315 0.325 0.325 0.305 0.31 460,000 143,700 TRANSPACIFIC BR 2GO GROUP 7.51 7.74 7.52 7.52 7.51 7.51 17,100 128,511 CHELSEA 1.62 1.64 1.65 1.65 1.61 1.62 827,000 1,346,680 CEBU AIR 41.35 41.7 41.2 42 40.95 41.7 213,300 8,835,810 194.1 194.5 195.1 197.9 194 194.1 841,500 163,896,756 INTL CONTAINER 22.2 24.75 21.8 22.2 21.8 22.2 1,400 30,765 LBC EXPRESS MACROASIA 5.2 5.22 5.2 5.33 5.17 5.22 441,700 2,309,812 METROALLIANCE A 1.04 1.19 1.02 1.19 1.02 1.19 11,000 11,480 HARBOR STAR 0.87 0.88 0.86 0.9 0.86 0.88 50,000 44,480 1.75 1.86 1.83 1.85 1.75 1.75 70,000 127,700 DISCOVERY WORLD WATERFRONT 0.465 0.48 0.46 0.465 0.46 0.465 70,000 32,250 STI HLDG 0.33 0.345 0.32 0.345 0.32 0.34 890,000 296,500 BELLE CORP 1.34 1.35 1.33 1.35 1.32 1.35 197,000 260,750 6.47 6.49 6.38 6.5 6.32 6.49 2,709,300 17,493,426 BLOOMBERRY 1.76 1.81 1.76 1.82 1.75 1.82 10,000 17,610 PACIFIC ONLINE LEISURE AND RES 1.41 1.45 1.41 1.45 1.41 1.45 154,000 221,740 PH RESORTS GRP 0.72 0.74 0.74 0.75 0.72 0.72 327,000 238,160 PREMIUM LEISURE 0.425 0.435 0.435 0.435 0.425 0.425 1,210,000 516,850 5.71 5.75 5.75 5.75 5.75 5.75 110,000 632,500 PHIL RACING PHILWEB 1.85 1.88 1.88 1.88 1.85 1.85 3,000 5,580 ALLDAY 0.57 0.58 0.6 0.6 0.57 0.58 30,607,000 17,813,830 BERJAYA 5.59 5.7 5.58 5.75 5.58 5.6 45,400 256,663 8.94 8.95 8.7 9.15 8.67 8.94 513,200 4,586,705 ALLHOME 1.4 1.41 1.4 1.44 1.4 1.4 220,000 308,520 METRO RETAIL PUREGOLD 36 36.05 36.95 37.15 35.3 36 8,900,600 320,359,635 ROBINSONS RTL 58.65 58.7 57.45 58.9 57.45 58.65 943,010 55,254,116.50 PHIL SEVEN CORP 86.2 90.45 86.1 90.5 86.1 90.5 350 31,235 1.07 1.08 1.07 1.09 1.07 1.07 168,000 180,810 SSI GROUP 28.75 28.9 29.3 29.8 28.5 28.9 4,843,900 141,333,580 WILCON DEPOT APC GROUP 0.23 0.236 0.236 0.237 0.236 0.237 40,000 9,470 EASYCALL 4.1 5.4 4.2 4.2 4.2 4.2 4,000 16,800 1.1 1.12 1.07 1.15 1.07 1.11 5,883,000 6,567,340 MEDILINES 0.5 0.51 0.5 0.51 0.49 0.5 3,060,000 1,517,500 PRMIERE HORIZON MINING & OIL

ATOK 6.31 6.6 6.7 6.72 6.3 6.6 257,400 1,687,518 APEX MINING 1.65 1.66 1.61 1.72 1.61 1.66 11,908,000 19,885,740 6.03 6.04 6.05 6.07 6.03 6.04 469,500 2,839,475 ATLAS MINING 0.265 0.275 0.265 0.265 0.265 0.265 10,000 2,650 COAL ASIA HLDG DIZON MINES 4.36 4.7 4.7 4.7 4.7 4.7 13,000 61,100 FERRONICKEL 2.08 2.11 2.07 2.12 2.06 2.08 1,039,000 2,171,420 0.183 0.2 0.183 0.183 0.183 0.183 60,000 10,980 GEOGRACE LEPANTO A 0.132 0.135 0.132 0.137 0.132 0.132 1,940,000 258,230 LEPANTO B 0.127 0.135 0.133 0.134 0.127 0.127 410,000 53,870 MARCVENTURES 1.28 1.29 1.26 1.3 1.25 1.29 637,000 808,230 NIHAO 1 1.03 1.05 1.05 1.05 1.05 6,000 6,300 5.11 5.12 5.15 5.17 5.12 5.12 1,132,800 5,824,092 NICKEL ASIA 0.75 0.77 0.78 0.78 0.75 0.77 156,000 117,890 ORNTL PENINSULA PX MINING 5.06 5.13 5.14 5.14 5.04 5.06 603,800 3,053,591 SEMIRARA MINING 23.35 23.45 24.15 24.25 23.3 23.35 2,631,000 62,694,490 0.007 0.0072 0.0072 0.0073 0.0072 0.0073 8,000,000 58,200 UNITED PARAGON ACE ENEXOR 31.25 32 41.8 41.8 31.25 31.25 3,742,100 129,629,970 0.01 0.011 0.01 0.01 0.01 0.01 10,500,000 105,000 ORNTL PETROL A PHILODRILL 0.0094 0.0097 0.0095 0.0095 0.0094 0.0095 18,000,000 170,900 PXP ENERGY 5.8 5.9 5.8 6 5.76 5.8 365,200 2,115,782 PREFFERED HOUSE PREF B 100.9 101.5 100.9 100.9 100.9 100.9 6,070 612,463 HOUSE PREF A 100.1 100.9 100.9 100.9 100.9 100.9 110 11,099 AC PREF B1 512 524.5 511 511 511 511 20 10,220 515 525 512.5 525 512.5 525 7,830 4,104,825 ALCO PREF D AC PREF B2R 511.5 524.5 511 520 511 520 500 256,400 BRN PREF A 102.8 104 102.3 103 102.3 103 2,750 282,775 CEB PREF 40.6 41 40.5 41 40.5 41 51,000 2,090,770 102.1 103 102.5 103 102 103 1,000 102,055 CPG PREF A DD PREF 100.9 101.5 101 101 101 101 470 47,470 EEI PREF B 106.8 106.9 106.5 106.9 106.5 106.8 17,310 1,845,084 FGEN PREF G 102.8 105.2 102.3 102.3 102.3 102.3 20 2,046 GTCAP PREF B 1,015 1,048 1,047 1,048 1,047 1,048 580 607,385 1,005 1,024 1,010 1,010 1,010 1,010 50 50,500 JFC PREF B MWIDE PREF 2B 99.1 101 101 101 101 101 10 1,010 MWIDE PREF 4 98 100.5 98 100.5 98 100.5 550 54,025 PNX PREF 3B 100.7 101 101 102 101 101 7,730 780,924 996 998 998 998 995 996 3,640 3,623,550 PNX PREF 4 PCOR PREF 3A 1,040 1,060 1,060 1,060 1,060 1,060 20 21,200 SMC PREF 2F 79 79.65 79 79 79 79 50 3,950 SMC PREF 2H 76.2 76.5 76.2 76.2 76.2 76.2 2,500 190,500 SMC PREF 2I 79.1 79.4 78.9 79 78.9 79 339,590 26,823,610 76.45 77 76.45 76.5 76.45 76.5 592,800 45,319,700 SMC PREF 2J SMC PREF 2K 75.8 76 75.85 75.85 75.8 75.8 734,060 55,671,798 TECH PREF B2D 53.65 53.7 53.55 53.65 53.55 53.65 9,370 502,076 PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 13.2 13.9 13.16 13.9 13.16 13.9 68,800 927,564 WARRANTS TECH WARRANT 0.8 0.82 0.85 0.86 0.8 0.82 864,000 703,860

-1.03%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 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."

-157,430,505.00 -2,285,106 -1,494,526.50 -128,480 -74,000 -7,850 126,451 34,010 733,403 344,300 908,010 -5,365,780 -204,500 760,512 -6,000 -709,490 7,953,116 3,118,138 128,040 -11,005,835 3,620 -44,690 20,860 -50,321,450 50,583,150 926,580.00 -23,989,225 1,272,340 -5,900 15,040 489,000.00 540,075 -35,796,238 -165,446 11,950 2,300,801 152,250 -200 -18,950 1,969,269 -156,075,110 9,165,573 440 -46,010 -12,697,185 -37,390.00 365,850 -167,790 -846,142 560,930 -2,642,293 -1,827,168.00 -2,942,655 1,106,250 1,275,560 -25,575 -1,902,400 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS KEPWEALTH MERRYMART

18.86 1.16 2.87 2.32

19.54 1.19 2.88 2.33

EXHANGE TRADE FUNDS

FIRST METRO ETF

108

108.8

19 1.19 2.88 2.34

19.9 1.2 2.88 2.41

18.82 1.16 2.88 2.32

18.88 1.18 2.88 2.33

8,600 209,000 2,000 2,508,000

163,514 245,260 5,760 5,886,990

307,190 167,850 286,110

109 109.6 108 108 10,050 1,093,862 182,620

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

The World BusinessMirror

Wednesday, January 12, 2022

China locks down third city, raising affected to 20 million European Parliament President David Sassoli delivers a speech during the Award of the Sakharov Prize ceremony at the European Parliament in Strasbourg, eastern France on December 15, 2021. David Sassoli, the Italian journalist who worked his way up in politics and became president of the European Union’s parliament, died at a hospital in Italy early on, January 11, his spokesman said. Julien Warnand/Pool Photo via AP

EU Parliament President David Sassoli dies at 65

RUSSELS—David Sassoli, the Italian journalist who worked his way up in politics while defending the downtrodden and repressed to become president of the European Union’s parliament, died at a hospital in Italy early Tuesday, his spokesman said. EU Council President Charles Michel called Sassoli a “sincere and passionate European. We already miss his human warmth, his generosity, his friendliness and his smile.” No details were provided in a tweet by spokesperson Roberto Cuillo. Sassoli, a 65-year-old socialist, had been hospitalized since December 26 due to abnormal functioning of his immune system, Cuillo said in a statement released the day before Sassoli’s death. Sassoli had been struggling for months with poor health after he suffered pneumonia caused by the legionella bacteria in September. His health steadily declined afterward and he was forced to miss several important legislative meetings. Yet, as much as possible, he stayed on the job, where his vigor and easy smile were a trademark. He was at his strongest when he took up the cause of migrants who died crossing the Mediterranean or dissidents such as Alexei Navalny, who is taking on the Kremlin from a jail cell. Over the past months, he improved enough to preside over a European Parliament session in December to give the EU’s main human rights award, the Sakharov Prize, to Navalny’s daughter. High in symbolism, it became his political testament. “In the final week of December there was a worsening of the illness, and then the final days of his battle,” Cuillo told Italy’s Sky TG24. Sassoli came to lead the legislature in 2019 following an intricate bout of political infighting among EU leaders which also saw German Christian Democrat Ursula von der Leyen become EU Commission President and Belgian free-market liberal Michel take the job as EU Council president. Even if he was often overshadowed by von der Leyen and Michel, Sassoli led an institution which

has become ever more powerful over the years and has become instrumental in charting the course of the European Union in many sectors, be it the digital economy, climate or Brexit. The European Parliament represents the EU’s 450 million citizens and refers to itself as “the heart of European democracy.” It has more than 700 members directly elected by its member nations. “I am deeply saddened by the terrible loss of a great European & proud Italian,” von der Leyen said on Twitter. “David Sassoli was a compassionate journalist, an outstanding President of the European Parliament and, first & foremost, a dear friend.” He was just as respected in Italy. The head of Italy’s Democratic Party and a longtime friend, Enrico Letta, praised Sassoli’s European passion and vision and vowed to carry them forward, though “we know we’re not up to it.” In a tweet, Letta called Sassoli “someone of extraordinary generosity, a passionate European” and a man of “vision and principles, theoretical and practical.” Another former Italian premier of the center-left, Paolo Gentiloni, called his death a “terrible loss.” “I will always remember his leadership, his passion, his generous friendship. #CiaoDavid,” Gentiloni tweeted. Sassoli was first elected to the European Parliament in 2009. He won another term in 2014 and served as its vice president. He started out as a newspaper journalist before entering broadcasting as a high-profile presenter in Italy. It was a stepping stone for his political career. He had considered running for the second part of the five-year term, which starts next week, but decided not to run for reelection when lawmakers choose their new president in Strasbourg, France. Roberta Metsola, the Christian Democrat who was already set to take over from Sassoli next week, said “I am heartbroken. Europe has lost a leader, I have a lost a friend, democracy has lost a champion.” She said Sassoli “dedicated his life to making the world a better, fairer place.” AP

EIJING—A third Chinese city has locked down its residents because of a Covid-19 outbreak, raising the number confined to their homes in China to about 20 million people.

It wasn’t clear how long the lockdown of Anyang, home to 5.5 million people, would last. Mass testing was being enforced, standard procedure whenever outbreaks pop up around the country. Another 13 million people are locked down in the city of Xi’an and 1.1 million in Yuzhou, with restrictions imposed on the port city of Tianjin, only about an hour from Beijing, which is to host the Winter Olympics from February 4. A games official responsible for disease control, Huang Chun, said organizers are counting on the cooperation of athletes and officials to prevent an outbreak that could affect participation. “If the mass cluster transmission happens, it will impact the

games and the schedule for sure,” Huang said. “The worst scenario, if it happens, is independent of man’s will, so we leave our options open.” Hong Kong also announced the closure of kindergartens and primary schools after infections were reported in students. Schools are to close by Friday and remain shut until at least the Lunar New Year holiday in the first week of February. Hong K ong h a s t ightened pandemic-related restrictions in recent days after discovering the Omicron variant had spread beyond people ar r iv ing from overseas. The lockdown of Anyang followed the confirmation of two cases of Omicron on Monday

A medical worker wearing a protective suit takes swab samples for the Covid-19 test on residents in Huaxian county in central China’s Henan province on January 10. A third Chinese city has locked down its residents because of a Covid-19 outbreak, raising the number confined to their homes in China to about 20 million people. Chinatopix via AP

that are believed to be linked to two other cases found Saturday in Tianjin. It appears to be the first time Omicron has spread in mainland China beyond people who arrived from abroad and their immediate contacts. Residents are not allowed to leave their homes, non-essential vehicles are banned from streets and stores have been ordered shut except for those selling necessities,

according to a city notice shared by state media late Monday. Xi’an and Yuzhou are both battling the Delta variant and neither has reported any Omicron cases. About 2,000 people have been infected in Xi’an, an ancient capital that is home to the Terracotta Warrior ruins and major companies in computer chips and aerospace, in China’s largest outbreak in recent months. AP

Canada, Taiwan hold talks on ways to boost trade ties

aiwan and Canada held “exploratory discussions” about ways to boost trade ties, in Taipei’s latest move to reduce its economic reliance on China. Mary Ng, Canada’s minister for international trade, met with Taiwanese minister without portfolio John Deng about a deal to promote investment, according to an e-mailed statement from the Canadian government. Ng “highlighted Taiwan is a key trade and investment partner as Canada broadens its trade links and deepens its economic partnerships in the Indo-Pacific region,”

according to the statement dated Monday, which added that Taiwan is Canada’s sixth-largest trading partner in Asia. The two officials agreed in their video meeting to continue strengthening supply chain resilience and explore more business opportunities, according to a statement from Taiwan. Beijing criticized Ottawa over the talks, with Foreign Ministry spokesman Wang Wenbin saying at a regular press briefing in Beijing that “the Canadian side should respect the one-China principle and handle relevant issues prudently.” Democratically ruled Taiwan

under President Tsai Ing-wen has been trying to gain broader international recognition while finding ways to diminish its dependence on China, the world’s No. 2 economy. In September, Taiwan asked to join the Asia-Pacific’s biggest working trade deal, a move that China indicated it strongly opposes. Tsai has also been looking at ways to bolster trade and investment with Southeast Asia, India, Australia and New Zealand, especially as Taiwanese firms face punishment in China for their political ties. Beijing has also asked to join

the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, creating the possibility of a long and politicized application process, with the members divided between democracies and nations keen to remain in China’s good graces. Beijing has been piling military, economic and diplomatic pressure on Tsai’s government in recent years. The People’s Liberation Army doubled the number of flights its warplanes made into Taiwan’s air-defense identification zone last year, and analysts expect more such forays in 2022. Bloomberg News

Japan keeps border controls; prepares for Omicron surge

OKYO—Japan will keep its borders closed to most foreign citizens through February as it attempts to accelerate coronavirus booster shots for elderly people and expand hospital capacity to cope with the rapidly spreading Omicron variant, Prime Minister Fumio Kishida said Tuesday. Japan briefly eased border controls in November after Covid-19 cases rapidly declined, but quickly reinstated a ban on most foreign entrants after the highly transmissible new variant emerged. Kishida said the stringent border controls have helped slow the variant’s spread and “bought

time” to prepare for an imminent surge. Japan had few cases until late December, but infections have since shot up to thousands a day. Last week, Kishida placed three prefectures where infections apparently spread from US military bases—Okinawa, Yamaguchi and Hiroshima— under a pre-emergency status in which eateries were requested to shorten service hours. But the rollout of booster vaccines, which started with medical workers in December, has been slow. As of Friday, only 0.6 percent of Japan’s population has received a third shot, prompting experts to urge the government

to speed up doses for elderly people. Health Minister Shigeyuki Goto on Tuesday attributed the delay to preparations by local municipalities, rather than shortages of imported vaccines. Kishida said government and municipal mass vaccination centers will be set up to speed the booster shots. A further upsurge in cases is feared following the New Year holidays and a three-day weekend, a time for traveling and parties for many Japanese. On Monday, Tokyo reported 871 new Covid-19 cases, an eight-fold increase from a week earlier. Nationwide, Japan

reported 6,438 new cases for an accumulated total of about 1.77 million, including about 18,400 deaths. Experts say a majority of the cases are now caused by Omicron. Kishida noted that there still are many “unknowns” about Omicron, but it could be milder and less fatal than previous variants. That could mean that more patients will stay at home. The government has been working to reinforce remote monitoring and medical care by community doctors, Kishida said. “We will respond flexibly to new findings,” Kishida said. “What’s important is to protect people’s lives.” AP

Mexican president announces he has Covid-19 for 2nd time

EXICO CITY—Mexico’s president announced Monday he has come down with Covid-19 a second time, as coronavirus infections spike in Mexico and virus tests become scarce. President Andrés Manuel López Obrador wrote that he tested positive, after he had sounded hoarse at a morning news briefing. He contracted Covid-19 and recovered

from it the first time in early 2021. “Even though the symptoms are light, I will remain isolated and only work from the office and hold online meetings until further notice,” the president wrote in his social media accounts. “In the meantime, Interior Secretary Adán Augusto López Hernández will take over for me at press conferences and other events.” Two of the president’s Cabinet secretaries, the heads of the En-

vironment and Economy departments, announced they had tested positive in recent days. Earlier on in the day, the president told Mexicans to just assume they had Covid-19 if they had symptoms. The number of confirmed cases spiked by 186 percent last week. López Obrador claimed the Omicron variant is “a little Covid,” noting hospitalizations and deaths

had not increased at the same rate. However, experts say those are both lagging indicators that may not show up for weeks after infections spike. Reading advice posted on Twitter, the president said Mexicans with symptoms should just stay at home, take paracetamol and isolate, rather than going out and trying to find tests. Since Christmas, private phar-

macies and the few available testing centers have been overwhelmed by long lines. The Twitter advice drew on guidelines from Mexico City and other health authorities. López Obrador’s administration has long refused to implement mass testing, calling it a waste of money. He called on companies not to require Covid tests for employees. Mexico passed 300,000 testconfirmed coronavirus deaths last

week, but so little testing is done in the country of 126 million that a government review of death certificates puts the real toll at almost 460,000. The virus spike was largely responsible for the cancelation of 260 flights between January 6 and January 10, the president said, as airline employees got infected and had to isolate, causing staff shortages. AP

Show BusinessMirror

Wednesday, January 12, 2022 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

‘Spider-Man’ stays at No. 1 in 4th weekend

An original spy thriller starring Jessica Chastain, Lupita Nyong’o, Diane Kruger and Penelope Cruz, The 355 yielded audience scores on its opening weekend that have been more enthusiastic, especially from women.

By Lindsey Bahr The Associated Press

HE glamorous spies of The 355 were no competition for the movie theater’s reigning webslinger. Spider-Man’s box office dominance continued in its fourth weekend in theaters, adding another $33 million, according to studio estimates on Sunday. With $668.8 million in North American ticket sales to date, Spider-Man: No Way Home is now the sixth-highest grossing release of all time domestically. Globally, with $1.5 billion and counting, it ranks in eighth place. The only major new film this weekend was Universal’s The 355, an original spy thriller starring Jessica Chastain, Lupita Nyong’o, Diane Kruger and Penelope Cruz, which debuted in third place with $4.8 million

FIZZLED OUT

THANKS to the young actor’s meanness, his team-up with a young actress failed to rise. They were supposed to be one of the love teams of the future but the buzz is no longer there. The young actor and the young actress are not friends, and it is not the latter’s fault as she has always been nice to him as she is to everyone. The young actor, however, is good friends with his co-star’s rival so they like talking ill about her and subtly bullying her. The young actress turned a blind eye to everything but the public didn’t and they stopped supporting the love team. They continue to support the young actress but they’ve given up on the young actor.

BULLIED

But the audience scores have been more enthusiastic, especially from women, and about a third of the attendees this weekend were over 45—a demographic that has not gone out to movie theaters much during the pandemic. With a holiday weekend coming up, Jim Orr, Universal’s head of domestic distribution, said, “We think we’ll have a nice runway.” The 355 came in behind the animated Sing 2, also distributed by Universal, which grossed an estimated $12 million in its third weekend in theaters, bringing its global total to $190.8 million. With Omicron cases surging, Hollywood has entered 2022 cautiously. January’s biggest new release, the Spider-Man spinoff Morbius, was recently pushed to April. “There’s a bit of uncertainty in the marketplace because of the Omicron variant,” said Paul Dergarabedian, Comscore’s senior media analyst. “Studios want to protect their crown jewels and give them the greatest shot at success in movie theaters. A delay like that shows they’re not giving up on the theaters. But studios are very aware of this marketplace and what the challenges might be.” And while January is now destined to be quiet at the box office, Dergarabedian said that Spider-Man has been a “beacon of hope” for the industry. “It shows that audiences want to go back to the movie theater,” he said. “We could end up having a really strong box office year, but only time will tell.” Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. Final domestic figures were scheduled to be released Monday.

SPEAKING of young stars, this girl came from a reality show and her fans are somehow very active online and rabid in trending hashtags about her and her on-screen partner. Her fans even bully her female co-stars, especially if they are prettier than her. One of her co-stars learned that the hard way. Despite her just

from 3,145 North American theaters. Directed by Simon Kingberg, reviews for the film about a global coalition of female spies have been less than stellar: It holds a 27 percent on Rotten Tomatoes.

1. Spider-Man: No Way Home, $33 million. 2. Sing 2, $12 million. 3. The 355, $4.8 million. 4. The King’s Man, $3.4 million. 5. American Underdog, $2.4 million. 6. The Matrix Resurrections, $1.9 million. 7. West Side Story, $1.4 million. 8. Ghostbusters: Afterlife, $1.1 million. 9. Licorice Pizza, $1 million. 10. House of Gucci, $632,348.

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Zayn Malik, 29; Erinn Westbrook, 34; Oliver Platt, 62; Kirstie Alley, 71. HAPPY BIRTHDAY: Evaluate your living arrangements, and do whatever it takes to add to your comfort and convenience. A healthy state of mind will ensure that you do your best in every aspect of life. Gravitate toward the people, activities and events that will encourage you to follow a satisfying path and support the lifestyle you want to live. Your lucky numbers are 9, 16, 22, 26, 37, 41, 49.

ARIES (March 21-April 19): Keep your wits about you and your finger on the pulse. Update information, and carry on with confidence. Refuse to let what others do distract you. Channel your energy into preparation, presentation and making promises you can keep. HHH

TAURUS (April 20-May 20): Don’t overthink what you must do. Trust in your ability to do what’s right, and you’ll avoid mistakes and deter someone from trying to take over. Stand tall and give your all, and good things will transpire. Romance and personal growth are favored. HHH

GEMINI (May 21-June 20): Put your energy where it counts. Learn all you can, and you’ll be prepared to take on whoever and whatever interferes. Trust in your intelligence and instincts, and you will deny someone the chance to take advantage of you. HHH

CANCER (June 21-July 22): A positive shift is heading your way. Be open to suggestions, and offer friendly advice. What you want will fall into place. A partnership looks promising, and celebrating with someone you deem special is favored. Use your imagination. HHHH

LEO (July 23-Aug. 22): Revisit your long-term goal. Make adjustments that will encourage support from those you need on your team to proceed. Being willing to give back will help you get what you want. A change of attitude and offering hands-on help is encouraged. HH

VIRGO (Aug. 23-Sept. 22): Tidy up loose ends. Time is of the essence, and living up to your promises is necessary to avoid criticism. Put your heart on the line, and be open with your affections. Less talk and more action will pay off.

HHHHH

doing her job, the reality show star’s fans found fault with her and started bullying her. They ridiculed her physical appearance even if she’s very pretty. But she chooses to be above such pettiness and just continue to do her job well.

LIBRA (Sept. 23-Oct. 22): You’re heading in the right direction. The information you gather will help you recognize the changes required to reach your goal. Embrace an adventure, but don’t push others to get involved. You’ll do the best and achieve the most if you work alone. HHHHH

SO IN LOVE

THE guy has been in showbiz for quite a while but it’s only now that he’s been public about being in a relationship. His girlfriend, a starlet, is lovely. But showbiz observers are wondering if he knows that’s she’s an expensive escort girl who is not a natural beauty. The starlet was a bar girl who also became a dancer at the club where she worked. The guy has always been known to hook up with women of a certain pedigree and the starlet doesn’t fit the bill, but they’re in love and happy.

HOPELESS CASE

WHO is this actress who is always a problem of her directors and co-stars? She is such a bad actress that her directors and co-stars

h have a difficult time working with her. Sometimes, a scene requires three takes or even more particularly when it’s one that requires a lot of acting and tears. The thing is that they can’t get mad at her because she’s so nice and she tries her best, plus she’s always on time and is ready with her lines. It’s just that she’s such a bad actress and apparently no amount of workshops and coaching can help her.

‘THE GILDED AGE’ DEBUTS JANUARY 25 ON HBO GO, HBO FROM creator Julian Fellowes (Downton Abbey), HBO’s The Gilded Age debuts the same time as the US on January 25 at 10 am exclusively on HBO GO and HBO, with a same day encore at 10 pm on HBO. Written by Fellowes and Sonja Warfield and directed by Michael Engler and Salli Richardson-Whitfield, the nine-episode drama series stars an ensemble cast of Carrie Coon, Morgan Spector, Denée Benton, Louisa Jacobson, Taissa Farmiga, Blake Ritson, Simon Jones, Harry Richardson, Thomas Cocquerel, Jack Gilpin, with Cynthia Nixon and Christine Baranski. The American Gilded Age was a period of immense economic change, of great conflict between the old ways and brand-new systems, and of huge fortunes made and lost. Against the backdrop of this transformation, The Gilded Age begins in 1882 with young Marian Brook (Jacobson) moving from rural Pennsylvania to New York City after the death of her father to live with her thoroughly

old money aunts Agnes van Rhijn (Baranski) and Ada Brook (Nixon). Accompanied by Peggy Scott (Benton), an aspiring writer seeking a fresh start, Marian inadvertently becomes enmeshed in a social war between one of her aunts, a scion of the old money set, and her stupendously rich neighbours, a ruthless railroad tycoon and his ambitious wife, George (Spector) and Bertha Russell (Coon). Exposed to a world on the brink of the modern age, will Marian follow the established rules of society, or forge her own path? Created, written and executive produced by Julian Fellowes, the series is also executive produced by Gareth Neame and David Crockett. Michael Engler and Salli Richardson-Whitfield are directors and executive producers, while Sonja Warfield is a writer and co-executive producer. The Gilded Age is a co-production between HBO and Universal Television, a division of Universal Studio Group.

SCORPIO (Oct. 23-Nov. 21): Explore what life has to offer and how others fit into your plans. Expand your workspace if it will help you get ahead. Attend a meeting or event that offers inside information that enables you to formulate and develop a long-term plan. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Mix business with pleasure, and you’ll discover something interesting that will encourage you to use your skills differently. Don’t feel you have to act in haste because someone pressures you. When in doubt, go directly to the source and ask pertinent questions. HHH

CAPRICORN (Dec. 22-Jan. 19): Take the time to assess your priorities, and make sure you do something that puts a smile on your face. Surround yourself with people who are uplifting and eager to participate in whatever you choose to do. Live, love, laugh. HHHHH

AQUARIUS (Jan. 20-Feb. 18): Take a creative approach to the way you handle a friend, relative or colleague. Offer unique suggestions, and what transpires will benefit you. Offer to do your fair share; you’ll be surprised how quickly things progress. HH

PISCES (Feb. 19-March 20): You’ll receive sound advice or an opportunity from someone familiar with your work ethic and skills. A change in direction will boost your confidence. Set up meetings or interviews, or send out resumes. Be explicit regarding your qualifications. HHHH BIRTHDAY BABY: You are entertaining, aware and proactive. You are original and friendly.

‘putting on a front’ BY JOHN PENNINGTON The Universal Crossword/Edited by David Steinberg

ACROSS 1 Pear part 5 Chiding syllable 8 Matted clumps of hair 13 ___ nuts (pesto ingredient) 14 Exclude 16 The ___ (customer’s typical order) 17 Merit 18 Drag queen in “Kinky Boots” 19 Mary Poppins, e.g. 20 Near Batman’s sidekick? 23 Took off 24 What do the pros say? 25 Made a cozy little home 30 Stockpile some yogurt starter? 33 “Count” who composed “One O’Clock Jump” 36 “Affirmative!” 37 People with an annual Sun Dance 38 Cheese that’s made backward? 39 Actress Dandridge 41 Quick kiss 42 Some body art, informally 43 “Midsommar” director Aster

44 Maya Angelou and Mary Oliver, e.g. 45 Person playing marbles, often? 49 Madame, in Spain 50 Jump like a hare 51 School fundraising grp. 54 Anticipate the latest charts? 58 Bulldozes 62 “Enough stalling!” 63 Isn’t another way? 64 JPEG or PNG file, e.g. 65 Part of YOLO 66 Taunt 67 “Good heavens!” 68 Genre related to reggae 69 Concerning DOWN 1 Pickle piece 2 Pageant headwear 3 2001 scandal company 4 Restaurant list that might be accessed with a QR code 5 “I knew I was right!” 6 Campfire treats 7 Unit of weight, for short 8 Escape route in “The Great

9 10 11 12 15 21 22 26 27 28 29 30 31 32 33 34 35 39 40 44 46 47 48

Escape” Allyson Felix’s Olympic team “Sounds like a great time!” Pale brown color Cunning Soda can feature Word on a “Hello!” tag Occupied Daze Private student Construct You can stand at some while working Has the goal of Its capital is Damascus Still at Disney? Test versions of software “Better late than never,” e.g. The Prince of Darkness Type of parrot in Blue Sky’s “Rio” Make a mistake Salt-N-___ Wiped clean Comedian’s “thing” Beverage often sweetened with

51 52 53 55 56 57 58 59

honey Ballet bends Palindromic belief Lead-in to “physics” or “turf” Big ruckus They’re not free of charge Mexico’s ___ California Word aptly found in “perimeter” “Back to Black” singer Winehouse

Solution to today’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, January 12, 2022

5 STEPS TO REACH YOUR MONEY GOALS IN 2022

PHOTO BY AUSTIN DISTEL ON UNSPLASH

By Kimberly Palmer NerdWallet

IN addition to the new year bringing confetti and a fresh calendar, it’s a time to set big money goals for the next 12 months. That might mean finally paying off debt, buying a house or taking a long-delayed vacation. With inflation and economic uncertainty clouding 2022, shoring up your finances this month can feel even more urgent. “When you plan to start in the new year or some other important date for you, it can be easier to make that behavioral change, because we feel like we’re making a fresh start,” says Jeremy Burke, a senior economist at the University of Southern California’s Center for Economic and Social Research. Here are five steps money experts recommend to help you reach your money goals in 2022: 1. GET A CLEAR VIEW OF YOUR FINANCES “The first step for everybody is to get organized,” says Phuong Luong, a certified financial planner at Saltbox Financial in Massachusetts. That means making a list of your savings, debt and assets. A complete picture of your finances can help you decide what to focus on for the new year, she says, and provide a document that’s easy to update annually. Luong also suggests tracking your monthly cash flow with a spreadsheet or app to help you answer questions about what mortgage payment you could afford or which expenses you might be able to cut. “If you have those numbers organized, it’s easier to have those conversations, with a professional or with yourself, about what you can actually afford,” she says. A complete self-assessment includes reflecting on your values, which may have shifted during the pandemic. “Figure out what is really important to you. Maybe you don’t want to spend as much on clothes, or you’d like to help more charities. Maybe instead of a car, you’d like a nice desk and chair. It’s easier to follow your budget when it’s aligned with your values,” says Shari Greco Reiches, a wealth manager in Illinois and author of the book Maximize Your Return on Life. 2. TAKE BABY STEPS WITH YOUR EMERGENCY FUND Emergency funds offer flexibility and comfort should you face unexpected expenses, but building one can be tricky. Behavioral economics suggests starting small, Burke says. “Instead of setting a goal of saving $400 a month, it could be better to save $100 a week or an even smaller amount daily. There seems to be less friction to getting started when the time period is smaller so it’s pennies per day instead of dollars per month,” Burke suggests. That means if you have a goal to save $1,000 by the end of the year, increase your chances of success by thinking of it as saving $2.75 a day. 3. AUTOMATE LONGER-TERM SAVINGS Another lesson from behavioral economics, Burke says, is to set up automatic transfers into your savings each month. “In terms of improving long-term outcomes, it’s really helpful to have things automated as much as possible,” he says. For example, if you contribute to a retirement account directly from your paycheck, you have to set it up only once, and your savings will continue to be deducted. You can also sign up to automatically increase the percentage you are saving each year or each time you get a salary increase, Burke adds. You could set up similar automatic transfers into a college savings account or a high-yield savings account for other goals like saving for a down payment. 4. PAY OFF THE DEBT WITH THE LOWEST BALANCES For people hoping to pay off high-interest debt this year, David Gal, professor of marketing at the University of Illinois Chicago, says his research shows that consumers are more successful if they start by focusing on the smallest balances first, called the debt snowball method. “That gives the perception of success and progress, and increases the motivation to pay off the bigger accounts,” he says. Daphne Jordan, a CFP and wealth adviser in Texas, emphasizes the importance of staying positive. “Think about where you want to go in this new chapter of life,” she suggests. “Don’t see your financial past as a mistake. Everything is a learning experience.” Having an accountability partner to check in with can also help keep you on track, says Rianka Dorsainvil, a CFP in Maryland and co-CEO of 2050 Wealth Partners, a financial planning firm. “Like with fitness, if we can count on one person checking in on us, we’re more likely to be successful.” 5. PLAN FOR SOME FUN, TOO Budgeting for 2022 doesn’t have to be a downer: You can also fit in some fun spending plans, which might include reconnecting with friends and family. “If you want to take a trip in August, think about the cost of the plane ticket, hotel and food,” Dorsainvil says. If it totals $3,000, then aim to start saving $375 a month through August. That way, she says, “you’re being realistic and setting measurable goals”—two approaches that increase your chances of success.

Retaining talent: What drives your team members? Part 1

ITH the changing work environment due to the pandemic, and the availability of technological resources to allow remote work setup, people managers do all they can to retain their talent lest they be taken by a competitor who can provide better working conditions—in this case, working remotely. International organizations have taken advantage of this by hiring local talent while paying them in dollars. Other organizations have adapted by providing flexible working conditions that provide employees complete autonomy over their time and where to work. With all these new conveniences pulling your team members away, how do you retain them? During the initial interview, hiring managers would often ask candidates what makes them want to work for the organization. I think an important question that should also be asked is what would make them leave. Much as we need to understand what motivates them to stay, we as people managers also need to understand what would make them leave to ensure if there is a fit in the organizational culture. Then we can decide if their values align with the organization and filter those that would eventually leave, thus freeing resources to candidates who are fit for the role and the organizational culture. Retaining your team starts with carefully choosing someone who has the necessary skills set, but also those who embody the values of the organization. Another important aspect of your retention strategy should be to look at what motivates your team members to do their work above expectations. I say above expectations because an engaged

work force means they exert discretionary effort to do more than the bare minimum because they can relate to the overall goal of the team. You know you have an engaged team when they occasionally volunteer for stretch assignments, provide information for faster decision-making, or are engaged in other activities and groups within the organization, among other things. There is a lot of literature on motivational theory but most of them agree that motivation can come from two major sources: intrinsic and extrinsic. Intrinsic motivation are factors that are within your control and are a result of your own decision. You are motivated to act because you feel that reward is doing the work in itself. On the other hand, extrinsic motivation is based on factors outside of yourself which you cannot control. You are driven to act because of a reward, a punishment, or other people’s reaction. Practically speaking, it would be unwise to dichotomize the two as both often work side by side in driving a person’s actions. A promotion can both be a result of a person’s willingness to equip himself for more responsibilities, and at the same time reflect his desire to be respected and admired by his peers. What is important is to understand what motivates the person so you can help them achieve their goal within the context of the team’s goals. This week, we will focus on extrinsic motivation and how you can use them to motivate your team, and next week we will discuss the different types of intrinsic motivation. One type of extrinsic motivation is the most common—using incentives. Here, one is driven by what is in it for them and how doing the work will benefit them. There is really nothing wrong about incentives because it gets the work done. The problem with it is when people become so accustomed to it that they will not do the work unless there is a clear incentive to do it. Another problem is that an incentive loses its utility over time because once people get used to it, it becomes the norm, and they would want additional incentives. Your role as a people manager is to identify at what point do you use incentives as a motivator and when to withhold them. On the other hand, fear of being punished is

another motivator. This is especially needed when a team member is not meeting expectations or has become a bad example to new members of the team. While it is not an ideal way of motivating team members, it can become a wake-up call for members who need to be reminded that work is work. Indirectly, you can creatively use this type of motivation by setting a time for your members to present the best practices they use for work. The threat of not being able to present something should be enough to nudge slacking team members in the right direction. Others are motivated by their group affiliations and the need to be accepted by others as part of the group. While we try to ensure that every member of our team complement each other, they will naturally gravitate toward people who share their interests within the group. Knowing these sub-groups can help you identify the members who can work together on projects because their peers provide an added motivation. Knowing their informal leader is a bonus because you only need to tap them to influence the entire group. Which brings me to another type of motivator which is the desire to have more power for autonomy and the authority to control others. Some people are driven by their need to be in control and make decisions that will affect the people around them. These are people who want to influence and make an impact in the lives of the people they work with. Of course, this can be taken to the extreme of being dictatarial, but identifying influential people who personify the organization’s values, and giving them more leadership responsibilities can proliferate organizational culture and sustain a productive and engaged team. Your role as a people manager is to understand what motivates your team and leverage those to keep them engaged and productive. The current pandemic has made it more difficult for organizations to keep their employees motivated especially as more organizations lose their talents to those offering work-from-home setups. Looking at your organization’s incentives, performance management, hierarchy, and even the informal organizational structure, are your extrinsic motivators enough to keep your team together?

6 tips that can lead to work flexibility and a better life IF there’s one thing that’s constant about life and careers, it’s that everything changes. If you want to reach your full potential while enjoying your work along the way, one of the best things you can do is to learn to adapt to changes and better yourself to become more flexible at work and in life, no matter the circumstance. One of the country’s leading insurance providers, AXA Philippines offers these tips on how to be flexible so you can have a great career and life: n ACCEPT WHAT YOU CAN’T CHANGE. Change is inevitable and it’s something that is outside of our control. Holding on to a false sense of control can cause a lot of stress. It’s better to accept your limited ability to change a person or situation, so you can let go of unnecessary anxieties and frustrations. n DEVELOP YOUR SKILL SET. Let’s say you’re aiming for a job promotion, or perhaps you just want to take on a new

career path, then developing your skills and making an effort to learn new ones is important to help you be equipped and deal with challenges at work and, hopefully, in life as well. n BE WILLING TO COMPROMISE. Sometimes, when working on a group project at work, your ideas and strategies don’t align with your colleagues. Same goes with collaborative efforts at home. However, agreeing to compromise, listening to the group, and spending some time to discuss the planning process are great practices in flexibility. As a group, you can also use techniques such as mind-mapping to explore the ideas of all the team members. n HAVE A STRONG SUPPORT NETWORK. Having a supportive and stable network of people around you is essential. You can divide up tasks and give each other feedback and emotional support. That will not only boost collaboration and optimism among your colleagues, but it can also be vital for helping fellow employees get through stressful or tough

times, whether in their professional or personal lives. n STEP OUT OF YOUR COMFORT ZONE. If you want to further improve flexibility at work and in life, coming out of your shell and thinking outside the box can be a good start. Getting out of your comfort zone and trying new things at work and in life is a proactive way to become more adaptable. n PLAN AHEAD. When you’re figuring out your life plan, it helps to know what you want to change and what you want to achieve. For most people, that could mean their job, health, finances, or goals. To help you assess how those areas of life are currently working for you, think about what are your values and what truly matters in life. Moreover, even if you can’t predict exactly what will happen, you can still plan for the unexpected. One way of doing so is by looking for a trusted and flexible insurance plan, like AXA MyLifeChoice (www. axa.com.ph/mylifechoice), which you can adjust based on your budget, protection coverage and preferred payment term.

B6 Wednesday, January 12, 2022

ICCP Group comes to aid of Odette victims

‘Isang Daan sa Pagtutulungan’ helps families affected by Typhoon Odette

LMOST a month after losing their homes, livelihoods, and loved ones, there are around 1.4 million Filipino families in areas devastated by Super Typhoon Odette who are still struggling to rebuild their lives in the face of the COVID-19 pandemic. To help our kababayans get back on their feet, ABS-CBN has launched “Tulong-Tulong sa Pag-ahon: Isang Daan Sa Pagtutulungan,” a series of fundraising activities in 100 days from different groups within ABSCBN, starting with ABS-CBN shows and stars, with the goal of providing assistance to 100,000 affected families. “Isang Daan Sa Pagtutulungan,” which marks the second phase of ABSCBN and ABS-CBN Foundation’s online fund drive for Odette survivors, will run from January 9 to April 18. It kicked off with “By Request” A Benefit Concert featuring Asia’s Songbird Regine Velasquez-Alcasid on FYE Channel on Kumu, the ABS-CBN Entertainment Facebook page and YouTube channel, and iWantTFC. Regine and host Darla Sauler, also announced that Tulong Bag donation vouchers are now available on Lazada

and Shopee. A P100 Tulong Bag donation voucher will provide a food pack containing 1kg rice and two canned goods for an individual while the P400 Tulong Family Bag donation voucher will provide a food pack of 5kg rice and six canned goods for one family. “By Request” will continue every night at 8 pm until January 18 with different “ASAP Natin ‘To” performers who will encourage viewers to support the cause via virtual gifts on Kumu, Facebook stars, YouTube donate button, and QR codes while heeding their song requests. After Regine, Kyle Echarri took over the mic on January 10) followed by Ogie Alcasid on January 11. Martin Nievera, Darren Espanto, Jed Madela, and Yeng Constantino have also confirmed their participation in the coming days. Fans should keep an eye out for the other fundraising activities lined up after the ten mini concerts of “By Request” to complete the 100 days. There will also be a “Metro Fire Sale,” “Boom! Pa-Mine” from “It’s Showtime” and an Esports charity event, while ABSCBN News and ABS-CBN Regional will deliver stories about the beneficiaries. The 100-day activities will culminate

with a major event in April. Through the kindness and generosity of individuals, groups, and corporations, ABS-CBN Foundation Sagip Kapamilya’s relief operations have already served 65,995 families as of January 8 in areas heavily hit by Super Typhoon Odette including Antique, Bohol, Cebu, Dinagat Island, Iloilo, Negros Occidental, Palawan, Southern Leyte, Siargao Island, Surigao City, among others. Since its launch last December 2021 via a benefit concert featuring over a hundred Kapamilya stars, the first phase of the “Tulong-Tulong sa Pag-Ahon” campaign called “Andito Tayo Para sa Bawat Pamilya” had raised P56,575,497 cash donations and P9,062,614 worth of in kind donations. Donors may also deposit to accounts of ABS-CBN Lingkod Kapamilya Foundation, Inc. through BDO (003930214711), BPI (4221-0000-27), PNB (12637000-4128), GCash, PayMaya, and PayPal accounts. International donations may be coursed through abscbnfoundation. org. The campaign’s DSWD Authority/ Solicitation Permit No. is DSWD-SBSP-00026-21, valid nationwide until May 28, 2022.

REP. PAZ Radaza of Lapu-Lapu City (left) assists in the distribution of bottled water, with Emmanuel Guillermo of CLIP (center) and Eduard Bucad of ICCP Group Foundation Inc.

HE ICCP Group, through its industrial estate and residential property subsidiaries Cebu Light Industrial Park (CLIP) and Pueblo de Oro Development Corporation (PDO) in cooperation with Cebu Light Industrial Park Locators Association and the ICCP Group Foundation Inc., rushed to the aid of its host communities in the aftermath of Typhoon Odette that hit the Province of Cebu. The Group shipped over 6,000 liters of drinking water and 2,000 kilos of rice to households in Brgy. Basak and Brgy. Babag. Drinking water was also donated to the city through the offices of Lapu-Lapu City Mayor Ahong Chan and Lapu-Lapu Representative Paz Radaza. PDO and CLIP also extended a helping hand to its Cebu-based employees, who were themselves victims of Typhoon Odette, by

supplying rice and drinking water. The city and most of the province continues to experience low or no water supply as water districts stopped operating due to the wide power service interruptions. Meanwhile, CLIP reported that, with the help of local power distributor Mactan Electric Company, the industrial park was able to have electricity restored by December 22. PDO also shared that its residential subdivision projects in Cebu sustained minimal effects, with its residents experiencing no flooding, during the typhoon. “The effect of Typhoon Odette, particularly on the citizens of Cebu, is devastating. We pray that our efforts can somehow help the families in the city and in our host barangays as they rebuild and recover from this calamity,” said the ICCP Group in a statement.

Amrop Board, The Executive Edge Inc. end partnership

HE Amrop Board and Amrop’s member firm in the Philippines, The Executive Edge Inc., have mutually agreed to end their relationship, effective 31 January 2022, after 26 years of loyal membership. This mutual decision has been brought about by the commercial impact of the pandemic and will allow The Executive Edge to focus even more intently on the Philippine market. Amrop wishes to thank The Executive Edge for its consummate professionalism over the past years, while The Executive Edge likewise thanks Amrop for the fruitful

DITO Telecommunity connects Filipinos after Typhoon Odette onslaught in beleaguered provincial localities

OTHING is more crucial than staying connected in times of calamity and DITO Telecommunity has been a lifebelt for many Filipinos who have been massively affected by the recent onslaught of typhoon Odette in the country. While most mobile services were temporarily rendered unserviceable by the catastrophe, the newly laid out DITO cell towers stood resilient in the beleaguered provinces, except for only six of DITO microsites that were affected. In particular, residents of Negros Oriental were able to rely on the

continuous and strong connection provided by DITO. One Dumaguete resident who participated in the relief operations, Dr. Jobe Buling-Viernes, coordinator of the San Beda University - Graduate School of Business, started distributing 500 DITO SIM cards to local members of the Philippine National Police, students, drivers and municipal employees. Recipients expressed their appreciation to the telco for its strong internet speed and reliable connectivity while being economical for as low as PhP39 for 3GB, PhP99 for 10GB, and

PhP199 for 25GB. “What struck me the most is the idea of connecting people and connecting lives during disasters – I’ve really proven that DITO was there,” shared Dr. Viernes. As government and non-government relief and recovery work began in earnest in the Visayas, DITO also provided 1000 SIM cards to the Armed Forces of the Philippines through the AFP Visayas Command and another 250 to the regional Disaster Risk Reduction Management offices for the use of the responders.

DR. JOBE Buling-Viernes, the coordinator of San Beda University-Graduate School of Business, joins relief operations to distribute 500 DITO SIM cards to local members of the Philippine National Police (PNP), students, drivers, and municipal employees in Valencia, Negros Oriental.

collaboration across borders and for allowing it to participate and grow its international footprint. Amrop will continue serving its clients in the Asia Pacific region, with its offices located in South Korea, China, Singapore and Australia, and the membership Committee is deploying efforts to strengthen our presence in the region.

“Adopt-A-Vendor”: Yolk during the pandemic

OR years, husband and wife Jp & Jomai Arnaiz, have always wanted to put up their own business. Jp was the Assistant Mall Manager of SM Baguio while Jomai was a wedding and event planner. This is where her interest in food trucks stemmed from. They started asking city hall regarding permits and licensing back in 2018 but always ended up being looked at like mad scientists. Nobody believed in the concept. Which, they found quite odd because they knew they’ve seen food trucks in the city before but just never stayed long. Until March 2020. Covid 19 happened. Pandemic lockdowns came about. Jomai had to leave for the states to take care of her terminally ill uncle who took care of her since pretty much birth. While Jp stayed in the Philippines and continued working. It all seemed like the business plans again, were hopeless. But when Jomai’s uncle died, she came back home and she was just more driven than ever as she knew events were at a standstill. Seeing her colleagues doing sideline jobs by selling food etc., that’s when they decided to create a food truck for rent. For the purpose of letting her colleagues rent out the truck maximum of 2months each so that they can have ample time to earn while the pandemic was still on. They figured too—hey, nobody’s done

this yet. They both believed it would be something. And they both loved the idea of being able to help others. So off they went to city hall. Over prepared and with cue cards ready for retaliation. But then, when they pitched their idea, they were requested by the city to help with the ambulant vendors instead. The Arnaiz’s were excited. They presented the rental to the vendors however the park vendors couldn't grasp the concept of the food truck yet. And so, this is where Yolk was conceptualized. They needed a case study so that the vendors can see the potential of the food truck business. Being in events, Jomai had a knack for researching and getting a feel of what could work and what’s relatable and appealing to the market. During the pandemic, she noticed that people loved K-drama’s and anything else Korean. She loved the egg drop concept of South Korea. Luckily enough, her brother Jonas also finished culinary courses and his passion was really food. So it just all came together—the taste, the look, the feel and most importantly the vibe of Yolk was created. From there it just was a roller coaster of blessings. And they kept their promise to help the displaced ambulant park vendors. They came up with an “Adopt-A-Vendor” scheme, wherein the ambulant vendors will set up shop around the truck. (Kind of like a food hub/park) But looking more dignified. Donned in proper uniform, hairnets, kiosks, closed shoes, and following all IATF protocols. Plus, Yolk also aims to promote our City Parks. After all, it was them who took a chance on the idea. Yolk is a living example that we can all just get up and punch this pandemic in the face. And proof that we all have what it takes to be resilient.

BusinessMirror

Editor: Tet Andolong

Wednesday, January 12, 2022 B7

E-commerce to drive growth

of industrial and logistics sector in 2022

By Rizal Raoul S. Reyes

HE industrial and logistics real-estate sector is poised for growth in 2022 as warehouses are still experiencing significant demand boosted by the vibrant e-commerce market. K ash Salvador, head of investment and capital markets of Santos Knight Frank told the BusinessMirror in an online interview that the property management and consultancy firm has seen growing transactional activities in areas south of Metro Manila such as Calabarzon—a region with a substantial supply of warehouses, storage spaces and industrial properties. “While repurposing real-estate into storage spaces has been popular during the pandemic and has increased options for a number of occupiers, there is still a challenge in terms of the supply of fully equipped storage facilities. The opportunity for real estate developers and warehouse operators will be in underserved places like North Luzon where infrastructure development is helping ease access,” Salvador explained. In another interview, Colliers Philippines concurred with Santos Knight Frank that industrial and logistics will experience robust growth in 2022 driven by sustained demand in e-commerce, log ist ics a nd m a nu fac t u r i ng across the country. In the first half of 2021, Colliers recorded industrial vacancy in the CaviteLaguna-Batangas (CALABA) corridor declining to 5.6 from 5.7 percent in 2020. Colliers traced the drop to the increase in demand for warehouse and storage space among e-commerce and Fast Moving Consumer Goods (FMCG) firms as online shopping continues to grow in the country.

According to the Department of Trade and Industry’s (DTI) ecommerce road map, the sector is projected to contribute about P1.2 trillion ($25 billion) by 2022. Joey Roi Bondoc, associate director of Colliers Philippines told the BusinessMirror in an online interview that they expect a rise in demand for cold storage facilities sustaining demand for industrial assets in the next 12 to 36 months. The Board of Investments (BOI) projects the revenue of the country’s cold chain industry to reach P20 billion ($417 million) by 2023. “To meet the growing demand, we encourage developers to consider expanding their industrial portfolio to include cold chain facilities or refurbish existing supply by incorporating specialized cold storage features such as pre-installed chillers, increased floor load capacity, and higher ceiling heights,” Bondoc said. Bondoc said they expect supply to increase in 2021 with the completion of expansion projects such as the Lima Technology Park Expansion in Batangas, Cavite Technopark Phase 2, and the Suntrust Ecotown Tanza Phase 2. Nevertheless, Colliers expects vacancy rates to continue declining as the demand for warehouses and industrial spaces is likely to thrive beyond 2022. “Colliers believes that developers can further capture the rising opportunities in the industrial sector by refurbishing existing warehouse facilities.

Airspeed’s house delivery services played a vital role in the company’s goal of transporting of goods to homes of Filipinos during the pandemic

Kash Salvador, head of investment and capital markets of Santos Knight Frank

Speedfood and Speedgrocer are online delivery service platforms which help merchants reach a bigger market and provide the dedicated demand needs of their consumers

We encourage developers to utilize advanced-technology such as facility automation, artificial intelligence [AI] systems, and cloud-managed IT solutions,” Bondoc said.

the company and it was able to hurdle the challenges hurled by the pandemic. In fact, Airspeed took a massive role in serving the nation by improving and expanding its processes, facilities, and roster of services. Moreover, Airspeed was able to expand by opening new establishments in Bacolod, Negros Occidental and Cubao, Quezon City. In response to the e-commerce boom, Airspeed established three new e-

Innovation a key to Airspeed’s growth Logistics service provider Airspeed is now regarded as one of the major players in the country. The Covid-19 was the acid test for

fulfillment warehouses—one in Carmona, Cavite, and two in Parañaque, which are capable of handling cross-docking and fulfill the requirements of businesses that sell products online in their back-end operations. Airspeed also raised the bar in their specialized services: Speedgifts, an online gifting platform offered for global Filipinos who want to send gifts to their loved ones anywhere in the Philippines;

UnboxMe, a cross-border delivery platform that allows customers to seamlessly shop on US web sites and get these goods delivered to their Philippine addresses; and Pinaspeed, an online pick-up and delivery service which makes sending gifts easier and hasslefree. Meanwhile, there’s Speedfood and Speedgrocer, an online delivery service platform which help merchants reach a bigger market and provide the dedicated demand needs of their consumers. “We listen to our customers and we innovate based on what’s required. We will continue to enhance the platforms that we started during the pandemic. We are building our E-fulfillment centers across the nation and increasing our coverage. Airspeed also has a dedicated team to help MSMEs across the nation, one community at a time,” Airspeed founder, chairperson and president Rosemarie Rafael told the BusinessMirror in an online interview. Under her leadership, Rafael has made sure that Airspeed upholds the values of loyalty, respect, integrity, balance, honor, excellence and stewardship; values that she herself believes in. In recognition of her work, Rafael has received several awards from different prestigious organizations such as the APEC Top Best Awards 2021 for Best in Business Sustainability in Tackling the Pandemic Asia CEO Awards Circle of Excellence for Global Filipino Executive of the Year. Although it accomplished several milestones in 2021, Airspeed will not rest on its laurels and in fact will continue to go full throttle in 2022. “While the demand for the logistics industry is growing and there is also increased competition, we believe that we have earned the trust of our customers and we do not only handle the freight requirements but we give them peace of mind. As long as our vision and direction are clear to each and every Airspeed employee, we will be able to achieve our goals.”

PH construction, IT-BPM industries see expansion amid pandemic By Roderick L. Abad

PBEAT on the Philippines’s situation amid the pandemic, leaders from the construction and information technology and business process management (ITBPM) industries have shared their outlooks and the various projects and initiatives that will help fast-track the country’s economic recovery. According to Department of Trade and Industry (DTI) Secretary Ramon Lopez, this nation remains one of the best investment destinations in the world despite the ensuing health crisis. “The Philippines has risen from 6th rank prior to 2016, to 4th rank in 2016-2020 period among our fellow Asean [Association of South East Asian Nations] countries in terms of FDI [Foreign Direct Investment] levels. Our annual average level of FDI actually more than doubled from $3.5-billion

in 2010-2015 to $8.7 billion in 2016-2020,” he said during an online forum organized recently by the DTI’s Expo 2020 Dubai Business Events Committee. Department of Public Works and Highways Undersecretary Dr. Maria Catalina Cabral, on the other hand, said that the infrastructure and construction sector is among the greatest economic stimulus since it generates employment and income even in a short term. “ The construction industry can generate at least 4,000 employees for every $1 billion worth of spending because of the many industries attached to it,” she said. Cabral also lauded other sectors of the government through collaboration—the tour ism sector by creating bypasses leading to tourism destinations, the agriculture sector through the construction of farm-to-mill roads, and the Department of Education by

providing facilities that benefit public schools nationwide. “What we have learned from this Covid-19 pandemic is that countries have increasingly become interdependent,” added Philippine Ambassador to the United Arab Emirates Hjayceelyn Quintana, who spoke on the workability of the Philippines with other countries now that the former is close to achieve herd immunity against the virus. “The Philippines is ready to do business with the different regions. The Philippine economy has proven to be resilient amid the political and economic implications of the global health crisis,” she noted.

Bullish outlook UNTIL the next decade, the construction industry has a promising growth outlook, per DCCD Engineering Chairman and Chief Executive Officer Engr. Michael Reyes. He said that it could generate

as much as P130 trillion worth of project value from 2020 to 2030 via expansion of investments, participation in the global market and a well-plotted construction road map for the stakeholders’ discussion. Reyes added that working with foreign industry partners through an efficient outsourcing of Philippine talents and work force can also enhance its ties with other nations, especially in dealing with different construction projects overseas. “As of 2018, there was just around P2.3 trillion construction value. Without the road map, we will just be attaining up to P4.3-trillion construction value by 2030,” he shared. “The Philippine construction industry is embarking on improving the work force of the construction industry. If I’m not mistaken, in 2016, we were at 3.9 percent of the work force and we are by 2020 7.1 [percent] and you can see a very big increase as far as highly

skilled work force. The professionals increased a bit and unskilled decreased a bit. For us to achieve this construction industry road map, we need to really do a lot of capacity building and improve the talents and the technical know-how of our work force.” Meanwhile, IT-BPM Executive Director Atty. Luis Salvador emphasized that despite the global recession due to the health crisis, the sector still managed to post a modest gross domestic product growth of 1.8 percent and a 1.4 percent or $23.7-billion increase in total revenues in 2020. According to global research firm Everest study group, the country’s IT-BPM 2021 growth is projected at 7.1 percent and a 8-percent to 12-percent increase in revenues as being driven by positive enterprise sentiments, vaccine rollout, digital acceleration, pent-up demands, fiscal stimulus across multiple geographies, and the

need for cost optimization. He added that there had also been numerous driving factors that have contributed to the uptick in the sectors’ future growth which includes the emerging business process sub-industries such as insurances, business-process outsourcing (BPO), human resource (HR) outsourcing, customer experience management, and others. “Deeper server penetration is also driving growth, we see opportunities in IT oriented and complex services such as cloud and data center services, finance and accounting and IT applications maintenance. There are also emerging business process subsegments such as insurance and health, BPOs, HR outsourcing, and customer experience management,” Salvador said. “The Philippines’s IT-BPM industry is constantly growing and proves to be an ideal investment destination for foreign companies.”

Sports BusinessMirror

EJ undergoes knee surgery

| Wednesday, January 12, 2022

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

RAMIREZ: LET’S SIT, MEDIATE P

HILIPPINE Sports Commission (PSC) Chairman William “Butch” Ramirez renewed his appeal to Olympic pole vaulter Ernest John “EJ” Obiena, the Philippine Athletics Track and Field Association (Patafa) and the Philippine Olympic Committee (POC) in the “spirit of humility, respect and forgiveness” to submit to the agency’s mediation and resolve the controversy that has been hounding Philippine sports for nearly two months now. “Without humility from all sides—EJ, Patafa and the POC— respect and forgiveness, it is impossible to resolve this dispute,” stressed Ramirez in the first online session for 2022 of the Philippine Sportswriters Association Forum. “If Obiena, Patafa and the POC is listening, I know you have your own politics there, [but] the PSC is just trying to resolve and protect the athlete and Patafa, which is a good organization like all of the NSAs [national sports associations],” said the PSC chief of the government sports agency’s peace-making effort. Out of humanitarian reasons and

as a gesture of goodwill, Ramirez said that the PSC is extending financial assistance to Obiena, who made a request for a surgery in his knee, despite the fact he still have to complete his liquidation of funds. Ramirez also said the PSC is working on awarding the 26-year-old Obiena his cash incentive for setting a new Asian men’s pole vault record of 5.93 meters he set while winning the gold medal at the Golden Roof Challenge in September 2021. He broke the 29-year-old 5.92m mark of Kazakhstan’s Igor Potapovich he set in Dijon, France, in 1992. Ramirez said that Patafa Chairman and Deputy House Speaker Rufus Rodriguez signified the association’s willingness to certify Obiena’s request for the financial assistance for his surgery. “We are thankful to Deputy Speaker Rodriguez in agreeing to our request for a certification regarding the financial assistance to Obiena. In these extraordinary times, we are willing to bypass normal procedure,” Ramirez told the program backed by San Miguel Corp., Milo, Amelie Hotel, Braska Restaurant and the

PHILIPPINE Sports Commission Chairman William “Butch” Ramirez plays “father to his children” in the first Philippine Sportswriters Association Forum for 2022. Philippine Amusement and Gaming Corp. with Prime Edge as new webcast and social-media partner. Ramirez also revealed he had a chat with POC President Rep. Abraham “Bambol” Tolentino on Monday and got the assurance that the POC will also agree to a ceasefire while the PSC’s mediation effort is ongoing. As a father talking to his child, the PSC’s longest-serving chairman

Wright shunning Japan offer–at the moment

HOENIX Super LPG ace guard Matthew Wright is not keen at packing his bags A.S.A.P. and bring his act to the Japanese B.League. “Someone expressed interest [for me] to play there, but I don’t have a decision for now,” the 6-foot-4 Filipino-Canadian Weight told BusinessMirror on Tuesday. “It’s so nice and flattering but I can’t comment more about it because I’m still under

contract with Phoenix.” Wright—who has averages of 15.4 points, 6.6 assists and 5.4 rebounds in the Fuel Masters’ five games in the Governors’ Cup—has his three-year maximum players contract expiring in August. That meant he remains at P420,000 a month—the maximum a player can get in the Philippine Basketball Association—at least for

the next seven months. Japanese B.League teams’ offers are lucrative—ranging from a minimum $8,000 (P410,000) to a high $40,000 (P2 million) a month depending on the player’s caliber. Eight Filipinos are in the Japanese pro league—Thirdy Ravena (San-en NeoPhoenix), Kiefer Ravena (Shiga Lakestars), Bobby Ray Parks Jr. (Nagoya Diamond Dolphins), Kobe Paras (Niigata

reminded Obiena to” remain humble and not allow his reputation and accomplishments go to his head” because “without humility, you won’t go very far.” He stressed that “mediation is the only option” to all the parties involved, that’s why the PSC tapped the Philippine Dispute Resolution Center Inc. (PDRCI) led by its president Atty. Edmundo Tan and Albirex BB), Dwight Ramos (Toyama Grouses), Juan Gomez de Liaño (Earth Z Tokyo), Javi Gomez de Liaño (Ibaraki Robot) and Kemark Cariño (Aomori Watts)—a number of them earning triple that of their salary in the PBA. Wright guaranteed Phoenix that he is focused on playing his best for the team this season. “I still under contract and I always give my all for Phoenix,” said Wright, Phoenix’s special draftee in 2016. “I haven’t thought of that [B.League offer] yet honestly. We have a strong team this year and I think we’re going

Executive Director Arlee Matibay Jr. “Should all parties agree, I, PSC Executive Director Atty. Guillermo Iroy Jr. and the PDRCI hope to resolve this dispute,” Ramirez said, warning that failure to do so could have a detrimental effect on the P515 million it had received from Congress for major international competitions this year. “We are grateful to Congress, especially to our senators who agreed to allot P515 million to the PSC for international competitions such as the Vietnam Southeast Asian Games and Asian Games,” he said. “But if this conflict is not solved, we might give this up and ask the Office of the President to give it elsewhere.” “We’re spending billions on our athletes and yet we are still in a pandemic and millions of Filipinos are without food and shelter because of Typhoon Odette,” he said. “I will tell Executive Secretary Salvador Medialdea to give the money to those in need and concentrate on grassroots sport that we have overlooked.” into a deep playoff run.” The Fuel Masters are 3-2 won-lost before the Governors’ Cup was suspended indefinitely. Josef Ramos MATTHEW WRIGHT’S giving his all for the Fuel Masters.

IOC major sponsors mostly muted in runup to Beijing Winter Olympics

T Djokovic back in tennis court swinging in Australia despite concerns on visa AN aerial video grab shows Novak Djokovic in a training session on Tuesday in Melbourne. AP

ELBOURNE—Tennis star Novak Djokovic held a practice session at Melbourne Park on Tuesday, his second day out of detention, focusing on his Australian Open title defense while still facing the prospect of deportation because he’s not vaccinated for Covid-19. The top-ranked Djokovic hit the show courts within hours of winning a legal battle Monday against the cancellation of his visa, based on procedural grounds. He returned Tuesday afternoon for a closed practice, with doors locked and only his support team allowed into Rod Laver Arena. Aerial images taken by Australian TV networks from a helicopter showed the nine-time Australian Open winner back at work, less than a week before the first Grand Slam tournament of the year is due to start. Video showed Djokovic hitting shots from behind the baseline, taking feedback from his coach, and stretching beside the court with a trainer on a sunny but mild summer afternoon. Soon after, organizers released the seedings for the Australian Open tournament, and Djokovic was listed at No. 1 for the men’s singles draw. While he’s trying to make up time after spending four days confined to an immigration detention hotel, Djokovic is conscious he could again have his visa revoked. Immigration Minister Alex Hawke is considering exercising his power to deport the 34-year-old Serbian under separate legislation, assessing a medical exemption that the unvaccinated Djokovic relied on to fly into Melbourne and the information supplied in the visa application. The Australian Associated Press reported the decision was not expected Tuesday, after Hawke’s office issued a statement saying the matter was still under consideration “in line with due process.”

The prime ministers of Australia and Serbia discussed Djokovic’s precarious visa earlier Tuesday. The deportation drama has polarized opinions and elicited strong support for the 20-time Grand Slam winner in his native Serbia. Prime Minister Scott Morrison and his Serbian counterpart, Ana Brnabić, agreed in their telephone conversation to keep in touch over the disputed visa, Morrison’s office said. AP

Djokovic’s compelling drama WHICH battle would be foremost in Novak Djokovic’s mind right now: (1) the one in a tennis court, (2) in a court of law, (3) in a movie in his mind? Easy to pick. Of course, No. 1, right? Why, because Djokovic is the world’s No. 1 tennis player at the moment. He breathes tennis every single day. He owns a record 20 Grand Slam titles in a tie with Roger Federer and

HE Beijing Winter Olympics are fraught with potential hazards for major sponsors, who are trying to remain quiet about China’s human-rights record while protecting at least $1 billion they’ve collectively paid to the International Olympic Committee (IOC). That could reach $2 billion when new figures are expected this year. Sponsors include big household names like Coca-Cola, Procter & Gamble, Visa, Toyota,

Airbnb and Panasonic. The IOC’s so-called TOP sponsors are being squeezed by a diplomatic boycott led by the United States, the economic power of 1.4 billion Chinese—and the fear of retaliation by China’s authoritarian government. China, itself, was part of a fullfledged boycott of the 1980 Moscow Olympics. “They [sponsors] are trying to walk a fine line between trying to get the best exposure, but also not trying to be perceived as too close to the actions of the Chinese government,” Mark Conrad, who teaches sports law and ethics at Fordham University’s Gabelli School of Business, said in an e-mail. The IOC created the strain by returning to a country whose rights abuses were well documented in the runup to the 2008 Beijing Summer Olympics. They now rival the pandemic for attention with the Winter Games opening on February 4.

RNEST JOHN “EJ” OBIENA underwent surgery to repair a meniscal tear in his right knee on Tuesday in Germany, according to his American benefactor Jim Lafferty. But because of the wonders of modern medicine, Lafferty said Obiena will be up and about in six days and will be competing in two indoor tournaments later this month and in February. “He [Obiena] needs to take six days off, but he’s in quite good condition, so by January 17 or 18, he’ll be back in training,” Lafferty told BusinessMirror through an Internet call from his base in Dubai. Obiena, 26, underwent a surgery at 5 p.m. (Manila time) on Tuesday at the Southwest German Center for Sports Traumatology in Uhingen in Baden Wurttemberg under the supervision of orthopedic Dr. Dimitr-Alexander Jontschew. Obiena will open the pole vault indoor season at the Init Indoor Meeting in Karlsruhe, Germany, on January 28, and will fly to Nur Sultan in Kazakhstan for the Asian Indoor Athletics Championships from February 11 to 13. The Germany meet, Lafferty said, would serve as a warmup for Obiena after the surgery. “It’s not going to be perfect because it’s [Germany meet] on January 28,” Lafferty said. “But what’s important is that he gets himself started before the Asian championships. He is the best there and we want to win that.” “He’s been clearing 5.80-m during practice,” Lafferty said. “He could jump and vault, but he didn’t put pressure on his leg. So we did the operation for his career and longevity.” Obiena holds the Asian men’s record holder of 5.93 meters he set in winning the gold medal at the Golden Roof Challenge last September in Innsbruck, Austria. Josef Ramos The rights violations committed against Muslim Uyghurs and other minorities clash with the lofty principles in the Olympic Charter. The Charter speaks of putting “sport at the service of the harmonious development of humankind, with a view to promoting a peaceful society concerned with the preservation of human dignity.” It further adds: “The enjoyment of the rights and freedoms set forth in this Olympic Charter shall be secured without discrimination of any kind, such as race, color, sex, sexual orientation, language, religion, political or other opinion, national or social origin, property, birth or other status.” The Associated Press contacted most of the major Olympic sponsors, but was met largely with silence about their plans, or told the focus was on the athletes. One sponsor that replied, German financial services company Allianz, said it was “in regular contact with the IOC” and stood behind ideals of the Games. AP

‘KING KOHEI’ RETIRES

Three-time Olympic gold medal gymnast Kohei Uchimura of Japan—the man they call “King Kohei”—is retiring, his management company says on Tuesday. The 33-year-old won gold in London 2012 and Rio 2016 as the best all-around men’s gymnast, and also won a team gold in 2016. He also won four Olympic silver medals and won gold 10 times at world championships. Uchimura, however, fails to qualify in his signature high-bar event at the Tokyo Olympics. AP Rafael Nadal for the most number of majors won. He is the defending champion in the Australian Open. Oh, the Aussie Open. It kicks off only five days from now on January 17 in Melbourne. So close, yes, but where is Djokovic right now? He has just stepped out of a battle in a court of law in Melbourne a big winner, proudly getting his visa restored in his passport—thanks to judge Anthony Kelly. Kelly’s maverick-driven verdict has put to shame his own government’s globally famous stand to bar unvaccinated visitors entry into Australia due to long lockdowns caused by the pandemic. Djokovic, from Serbia, has long been a vocal foe of vaccination. Is Kelly a Djokovic fan or simply an avid tennis buff? Or maybe an anti-vaxxer himself? Whatever, Kelly has pushed his own government’s back against the wall. Here is a case of a court toppling his government’s stand on just not a national issue but an international one at that—the vaccination platform being still a hot topic amid the pandemic. Djokovic has won the first set but can he proceed to

wrap up the match? The middle sets can be much tougher, you know. And should a deciding fifth set ensue, it will require steely nerves, endless stamina and a monumentally monstrous mind to pull it out of the fire. The courtroom bans cheering and clapping but not in the tennis courts, where even primal screams can never be restrained. The crowd can be that hostile as to derail outright a player’s focus. The court trial is not like the movie in your mind when deep in combat in the actual tennis court. There is no judge to lean on but only yourself. THAT’S IT The good news is, EJ Obiena, the world-class Filipino pole vaulter, has now agreed to enter the mediation process brokered by the Philippine Sports Commission, hopefully ending the long-playing rift between the ace vaulter and his mother federation. The sad news is, Obiena is set to undergo a meniscal tear surgery on his knee that will, it is highly hoped, help pave the way for his joining a world category event by the end of January. Let us pray that Obiena will surpass both trials and next, nudges us to heave a collective sigh of relief while we say, “All’s well that ends well.”