BusinessMirror January 12, 2024 by BusinessMirror

Germany keen on RE, hiring more Filipinos By Malou Talosig-Bartolome

Philippine Foreign Affairs Secretary welcomes visiting German Foreign Minister Annalena Baerbock on Thursday. Baerbock is in the country for two days as part of her Middle East and Southeast Asia swing. PHOTO COURTESY OF DFA

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ERMANY is eyeing to invest in renewable energy and import raw materials from the Philippines, but stressed the need for the Philippines to have clearer rules for foreign investments. Visiting German Foreign Minister Annalena Baerbock also pitched the start of negotiations for t he Ph i l ippi ne -Eu ropea n Union free trade agreement. Baerbock is in the country for two days as part of her Middle East

and Southeast Asia swing. The 43-year-old top diplomat also mentioned that Germany is open to hiring more Filipino skilled workers and professionals soon. “Of high importance for us is to deepen cooperation for renewable energy sector because we have leading companies, especially in the wind sector,” Baerbock said at a press conference in Makati City. “It is important that regulations for investments are clear. Germany is kind of conservative when it comes to investments so

the question about regulations is of high importance,” Baerbock said. She said Germany “supports heavily” renewable investments around the world. This is why Germany wants to “deepen conversation” about modernization of investment regulations in the Philippines.

Diversify source of raw materials

Germany is also diversifying its supply chains away from China, and is eyeing the Philippines as

one of its alternate sources given its big natural resources. “We, Germany and the European Union, are depending heavily on import of raw materials and we would like to diversify. This is part of the new national security strategy,” Baerbock said. Since the onset of the Covid-19 pandemic and Russia’s war on Ukraine, German and other European companies have struggled with lack of raw materials from China. See “Germany,” A2

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‘PHL MUST BEEF UP G.I.R. TO KEEP UP WITH DEBT’ www.businessmirror.com.ph

Friday, January 12, 2024 Vol. 19 No. 89

Palace confirms: Recto is new DOF secretary

ELECTRIC MOBILITY ELECTRIC MOBILITY

Manila International Airport Authority (MIAA) General Manager Eric Castro Ines (left) is seen with Cebu Pacific’s Chief Strategy Officer Alex Reyes at the launch of 100-percent electric shuttle buses at the Naia Terminal 3. The officials said the deployment of the buses reflects Cebu Pacific’s commitment to sustainability in transitioning ground operations to electric, zero-emission vehicles. NONIE REYES

By Cai U. Ordinario @caiordinario

HE Philippines needs to stock up on its dollar reserves to ensure that its Gross International Reserves (GIR) is “keeping up” with the country’s debts, according to a local economist. In his presentation at the First Metro Investment Corp. (FMIC)University of Asia and the Pacific (UA&P) economic briefing on Wednesday, UA&P economist Victor A. Abola said this will also cushion any external risks that could affect the country. “Our GIR is not keeping up with the rise in debt. And that’s not something that is most welcome,” Abola said. “Secondly, we need to rebuild our gross dollar reserve because if we don’t do it, it keeps only [at] this level, which is not very ideal for the environment in which we have global markets that can move easily.” Abola said the country’s external debt has reached $118.8 billion but the country’s GIR reached

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$101 billion as of the third quarter of 2023. It was only in 2022 when the external debt zoomed past the country’s GIR. The external debt reached $111.3 billion while the GIR only reached $96 billion. Based on the data, the GIR has kept up with the country’s external debt. Based on Abola’s data, in 2019, the country’s GIR reached $88 billion while the country's external debt was at $83.6 billion. Abola’s data showed the GIR reached $110 billion while external debt amounted to $98.5 billion in 2020. In 2022, the GIR was at $109 billion and the external debt was at $106.4 billion.

MARCOS WANTS PHL RANKING IN PISA TO IMPROVE FASTER By Jovee Marie N. dela Cruz

@joveemarie

RESIDENT Ferdinand Marcos Jr. on Thursday directed the Department of Education (DepEd) to take the necessary steps to improve the country’s ranking in the Programme for International Student Assessment (PISA). In a Palace briefing following a sectoral meeting in Malacañang on improving the Philippines’s PISA ranking, Education Undersecretaries Michael Poa and Gina Gonong said the President wanted DepEd to focus on improving teachers’ teaching quality and competency, nutrition, addressing campus bullying, and aiding teachers on specializations. “So as mentioned earlier this [Thursday] morning, of course, led by the Vice President, Secretary of Education Sara Duterte, we presented to the President our ways forward because the

theme was really, how do we improve not only our PISA performance but the overall performance of our learners in basic education,” said Poa. For her part, Gonong cited the need for a long-term approach to achieving improvements in the country’s proficiency levels. Gonong said the Philippines recorded a two-point increase in Reading in PISA score; seven points in Math, but dropped by one point in Science. Addressing concerns about the immediate increase in proficiency levels, Gonong said, “Our immediate target is that if we don’t immediately increase in terms of proficiency level, our scores [should at least] increase until we reach the minimum level of proficiency.” Gonong pointed out that increasing proficiency levels is not an overnight process

ATANGAS Rep. Ralph Recto is set to take his oath as new Finance secretary on Friday before President Ferdinand R. Marcos Jr., along with Special Assistant to the President for Investment and Economic Affairs Frederick Go, ending months of speculation over the DOF portfolio. The appointments, announced by Presidential Communication Office Secretary Cheloy Garafil, come at a critical juncture, with the nation keenly observing the economic policies and strategies that will be implemented under these key positions. Recto, known for his extensive experience in legislative matters, is expected to bring his expertise to the helm of the Finance department, steering the country through economic challenges and fostering financial stability. On the other hand, Go's appointment as Special Assistant to the President for Investment and Economic Affairs signals a focus on bolstering investments and economic growth, the Palace said. With an eye on attracting both domestic and foreign investments, Go is poised to play a vital role in shaping policies that drive economic prosperity. In December, Go was appointed by Marcos as special assistant to the President for Investment and Economic Affairs, a newly-created position with the rank of Secretary under

the Office of the President. Marcos issued Executive Order (EO) 49 creating the Office of the Special Assistant to the President for Investment and Economic Affairs.

FFCCCII, Salceda hail ‘likely’ designation Earlier on Thursday, even as his designation had yet to be officially confirmed, congressman and former Neda chief Recto was already reaping praise from various quarters on what a key House leader called his ‘likely appointment’ as the country’s new Secretary of Finance. House Committee on Ways and Means Chairman Joey Sarte Salceda welcomed the “likely appointment” of fellow tax reform advocate Recto, saying this could have an impact on expediting key tax reforms currently pending in the Senate. Similar hopes were aired by the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) through a Communiqué from its President, Dr. Cecilio K. Pedro. The group expressed full support for what it called Recto’s “welldeserved” designation. Salceda sees Recto's potential appointment as a significant stride towards addressing crucial issues such as the cost of living, unemployment, and expanding the country's fiscal space. See “Palace,” A2

See “Marcos,” A2

See “PHL,” A2

PESO exchange rates n US 56.2860 n japan 0.3862 n UK 71.7365 n HK 7.1985 n CHINA 7.8476 n singapore 42.2789 n australia 37.7004 n EU 61.7739 n KOREA 0.0427 n SAUDI arabia 15.0088 Source: BSP (January 11, 2024)

News BusinessMirror

A2 Friday, January 12, 2024

PHL… Continued from A1

“The old standard of three months is...already passé. We need six to nine months of reserves. If we don’t do it, then the credit rating may be [affected],” Abola said. GIR, BSP explained, is viewed to be adequate if it can finance at least three-months’ worth of the country’s imports of goods and payments of services and primary income. Earlier, the country’s dollar reserves reached over $100 billion by the end of 2023, according to the latest data from the BSP. The BSP said the Philippines’s GIR reached $102.5 billion as of end-December 2023. This is higher by 6.56 percent than the $96.149 billion posted in the same period of 2022. However, this was a decline of 0.26 percent from the $102.72 billion posted in November 2023. The slight decline was due to the government’s debt payments.

Palace… Continued from A1

“Recto brings a wealth of experience in economic legislation and deep and longstanding relationships with members of Congress. This experience and network

www.businessmirror.com.ph

Global unemployment rate Marcos… to increase in 2024—ILO Continued from A1

By Patrick V. Miguel

@patrickvmiguel

HE global unemployment rate will increase this year, alongside the concern over “growing inequalities and stagnant productivity,” the International Labor Organization (ILO) reported. ILO’s World Employment and Social Outlook: Trends (WESO Trend) 2024 report states that about 2 million workers will be looking for jobs in 2024, making the global unemployment rate 5.2 percent. The global unemployment rate in 2023 is 5.1 percent, a decline compared

to the 2022 report of 5.3 percent. “It projects that the labor market outlook and global unemployment will both worsen,” said ILO in a news release. In addition, the WESO Trends warned about the income inequality that has “widened,” which has

will be crucial in enacting meaningful reforms to address the cost of living, create employment, and expand our fiscal space,” he said. Salceda said Recto played a pivotal role in crafting the 1997 Comprehensive Tax Reform Program (CTRP) during his tenure in the House. Salceda said he is optimistic about the positive impact that Recto's appointment could have on expediting key tax reforms currently

pending in the Senate. “I am optimistic that key tax reforms pending in the Senate will also move faster with his appointment, due to his relationships in that chamber as well as his ability to broker viable compromises. I look forward to working with him when sessions resume these coming days,” he said. In its statement on Thursday, the FFCC-

affected disposable income and “bodes ill for aggregate demand and a more sustained economic recovery.” Informal work rates are also expected to “remain static” for about 58 percent of the global workforce this year. WESO also reported that the number of those covered by the status of Not in Employment, Education or Training (NEET) “remains high,” par ticu larly among young women. Despite technological advances and increased investment, “productivity growth has continued to slow,” said ILO. A reason for this, it added, “is that significant amounts of investment were directed

towards less productive sectors such as ser v ices and construction. Other barriers include skills shortages and the dominance of large digital monopolies, which hinders faster technological adoption, especially in developing countries and sectors with a predominance of low productivity firms.” The report shows cause for concern in the labor market and the “imbalances” are not part of pandemic recovery, said ILO Director-General Gilbert F. Houngbo. He added: “The workforce challenges it detects pose a threat to both individual livelihoods and businesses and it is essential that we tackle them effectively and fast.”

CII described Rec to, who brief ly headed the National Economic and Development Authority (Neda), as “a seasoned legislator with a wealth of experience and an impeccable track record of exemplary public service, both within the hallowed halls of the Senate and the House of Representatives. At the same time, FFCCCII thanked outgoing Finance Secretary Benjamin E. Diokno. “His enduring commitment

and stellar track record in various pivotal government positions, such as Finance Secretary, Budget Secretary, Governor of Bangko Sentral ng Pilipinas, and other critical roles, coupled with his previous role as a distinguished economics professor at the University of the Philippines, deserve our commendation. We recognize and salute his patriotism, sagacity, and enlightened stewardship.” Jovee Marie N. Dela Cruz

Germany…

Manila and Berlin. He said a memorandum of agreement is being negotiated to allow the deployment of skilled workers and other professionals to Germany. The Philippines and Germany have an existing labor agreement for the deployment of Filipino nurses to Germany under the Triple Win arrangement. Baerbock said they see “more potential” to expand the existing labor agreement to include technical workers. “Every year, thousands of Filipinos come to Germany to work and live there, especially in the health sector. We are very grateful to these men and women who moved thousands of kilometers from their home. They are doing an important work in strengthening our health sector,” Baerbock said.

Continued from A1

By increasing trade and investments in the Philippines, Germany wants that the Philippine economy also gain from it. “We have seen cooperation in the past, looking only at their own interest. For us, it is of prime importance that if we strengthen economic cooperation, that it would be in the mutual benefit of both countries,” she said, stressing that this is the “added value” of Germany that it extends to partners.

New PHL-German labor agreement Philippine Foreign Affairs Secretary Enrique Manalo said he and Baerbock discussed expanding labor cooperation between

DOH tests water in Baguio City amid diarrhea outbreak By Claudeth Mocon-Ciriaco

HE Department of Health (DOH), through its Epidemiology Bureau (EB) and the Center for Health Development Cordillera Administrative Region (CHD-CAR), is assisting Baguio authorities following City Hall’s declaration of a diarrhea outbreak on January 10, 2024. The surge in diarrhea cases started on December 21, 2023 based on the preliminary findings of the Baguio City Health Office. In its report to CHD-CAR, a total of 308 diarrhea cases were reported from December 21, 2023 to January 7, 2024. Age of cases ranged from 3 months to 92 years. Of these, 11 cases were admitted to surrounding hospitals. No death has been reported. Diarrhea (loose and watery stool) is usually associated with either water or food-borne causative agents. “The DOH advises all to always use clean water for drinking, preparing drinks, cooking, washing eating and cooking utensils,

brushing teeth, and washing the hands and face,” the DOH said. Pending final result of the ongoing epidemiologic investigation, the DOH said that the public in affected areas would be provided access to clean, potable water. Water testing is ongoing in the city. The DOH said that water may be boiled for two minutes [start timer after water comes to a rolling boil]. The use of chlorine-based water disinfection solution or tablets, if available in health centers, is also recommended. The public is also advised to report any change in color or odor of their household tap water. “In case of loose or watery stools, the first aid is to ensure hydration. Drink replacement fluids - clean water, ideally with oral rehydration solution (Oresol). Consult a doctor,” the DOH added. The Baguio City Health Office will issue updates and health advisories to guide the public on other measures they have to take such as food safety practices, the DOH said.

and requires sustained efforts over the years for students to significantly develop their skills. “We know that increasing the proficiency level is not that fast; it takes years before our students can really develop,” she added. Gonong said ongoing reforms initiated during the current administration must be sustained. “So, we’ll just have to continue doing the reforms that we have started in this administration,” she added. The PISA, developed by the Organisation for Economic Cooperation and Development (OECD), is designed to assess the extent to which students have acquired key knowledge and skills essential for full participation in social and economic life. It is a triennial international comparative study that tests a 15-year-old’s ability in mathematics, reading, and science in real-world situations. Some 81 countries and economies participated in PISA 2022, with some 690,000 students representing about 29 million 15-year-olds. The assessment was administered from March 2022 to May 2022 and results were released on December 5, 2023.

Catch-up program

Poa said the Department of Education will focus on the National Learning Recovery Program, with an emphasis on the National Reading Program, the National Math Program, the National Science Program, and the National Learning Camp. “We also paid attention to our catch-up Fridays that we will start on January 12. We issued the guidelines [last Wednesday],” he added. Poa said the President also wants the DepEd to focus on improving teacher expertise through proper training programs and teacher welfare. He highlighted the impact of nutrition on student performance, including enhancements to school-based feeding programs. The government allotted P5.6 billion last year for the school-based feeding program and augmented it to P11.7 billion this year, Poa explained, adding the budget increase allows the agency to carry out the feeding program throughout the year. “We know that nutrition really affects the performance of our students, that's why we looked at the different feeding programs of the government, including, of course, our school-based feeding program,” he added. Poa also acknowledged the rise of bullying through social media and efforts to strengthen anti-bullying programs in coordination with other agencies.

K-12

Meanwhile, DepEd aims to complete the review of the K to 12 curriculum by May of this year. “Our target date for completion is May 2024. Following the review, they will present their observations to us, and subsequently, we will commence the revision process,” he said. Education Secretary Duterte ordered a review of the K to 12 curriculum, aiming to generate graduates who are better prepared for employment and demonstrate increased responsibility.

Friday, January 12, 2024

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

₧10.41B worth of drugs seized, 27,968 barangays cleared in 2023–DILG chief By Rex Anthony Naval

‘SCREENSCAPES’ EXHIBIT LAUNCH Senator Ramon “Bong” Revilla Jr., SEAMEO INNOTECH Center Director Leonor Magtolis Briones and National artist for film and broadcast arts Ricky Lee, together with various personalities from the entertainment industry, grace the launch of the art exhibit titled “Screenscapes” at the White Room Gallery of the International House, SEAMEO INNOTECH along Commonwealth Avenue in Diliman, Quezon City on Wednesday night, January 10, 2024. The exhibit showcases masterpieces of renowned actors, directors, and filmmakers. NONOY LACZA

‘Bill of particulars’: SMNI asks NTC to identify CPC violations By Lenie Lectura @llectura

ONSHINE Media Network International (SMNI) asked the National Telecommunications Commission (NTC) to identify its alleged violations of its Certificate of Public Convenience (CPC). The agency SMNI filed on Thursday a Motion for Bill of Particulars asking the NTC specify and detail the violations of its CPC. “The NTC is objectively studying Respondent Swara Sug/SMNI’s aforementioned Motions, and shall proceed to consider and resolve the same in adherence to the provisions of NTC’s Rules of Procedure, and tenets of fair play and due process,” the NTC said in a statement issued Thursday. Earlier, SMNI filed its Motion to Inhibit, with Motion for Extension of Time, urging the three members of the Commission to inhibit themselves from further acting on the case, as well as requesting for an additional 15 days within which to file its answer. They are Commissioners Ella Blanca Lopez, Deputy Commissioner Jon Paulo Salvahan, and Deputy Commissioner Alvin Bernardo Blanco. The NTC granted SMNI’s request for extension of time to file answer and gave it until January 15, 2024 within

which to file the same. “A reading of the caption of the case will show that it is indeed this Honorable Commission, in the exercise of its quasi-judicial powers, which will ultimately rule and decide on the show cause order. In the same breadth and manner, it is also this Honorable Commission which is the complainant against the herein respondent,” the motion read. It can be recalled that in December last year, the NTC imposed a 30-day suspension on the operations of the SMNI over reported violations of the terms and conditions of its franchise. The network was given 15 days from receipt of the order to show cause and explain in writing why it should not be administratively sanctioned. The House of Representatives earlier cited three violations committed by SMNI. These include deliberately disseminating false information, the transfer of shares without prior congressional approval, and failure to offer at least 30 percent of its outstanding stock. SMNI had said the December order did not specify the violations of its CPC, which is within the purview and jurisdiction of the NTC. It also said the resolution of the House of Representatives should not be adopted by the NTC.

Fisherfolk urge LLDA to freeze 22 land reclamation projects in Laguna de Bay

ISHERFOLK under the Rizal Fisheries and Aquatic Resources Management Council (FARMC) filed a formal complaint against the reported ongoing land-reclamation activities in Laguna de Bay. This as cause-oriented groups under the Philippine Movement for Climate Justice (PMCJ), Sanlakas Rizal, and the Alliance of Unified People’s Organization in Lupang Arenda (Apola) joined a protest action in front of the Laguna Lake Development Authority (LLDA) on Monday to demonstrate their opposition to the massive destructive dump-and-fill projects in the 90,000-hectare lake. In their letter filed before the LLDA, they said the projects were implemented without proper public consultations. They demanded full disclosure of the details of each and every land reclamation project in the Laguna de Bay, and for the agency to issue a ceaseand-desist order while conducting an investigation of its potential sociocultural and environmental impact to the communities around the lake. “There are many ongoing land reclamations in the lake. We don’t know what are these for but one thing is for sure, we, the fisherfolk will be at the losing end if these projects continue. With the shrinking space in which we can go fishing, so is our capacity to earn,” Sonny San Jose, chairman of

FARMC-Rizal said. Among the areas reportedly affected by the land-reclamation activities are Taytay, Binangonan, and Angono, where fisherfolk are struggling economically because of the significantly restricted fishing spaces they are left with. “Land reclamation has long-term effects on the lake’s ecosystem. By extension, this affects the lives of the fisherfolk and communities who are part of this ecosystem. This threatens their water supply, food, and livelihood. Kapag tinambakan ang lawa, tayo ang kawawa,” Aaron Pedrosa, counsel for the affected fisherfolk and secretary-general of Sanlakas, said. Ian Rivera, national coordinator of PMCJ, spoke on the implications on the climate emergency. “Flooding will also worsen as more of the lake is converted into land. The natural role of the lake as a catch basin will be affected. This impact should have been demonstrated if the Environmental Impact Statement was conducted. With the climate crisis bringing stronger storms and heavier rains, this can only mean disaster for the people living around the lake,” he said. Currently, there are around 22 reclamation projects planned throughout Laguna Lake, despite a mandate to protect the lake and a suspension order on said reclamation. Jonathan L. Mayuga

AW enforcement operations in 2023 resulted in the confiscation of P10.41 billion worth of illegal drugs and clearing of some 27,968 barangays of narcotics, Department of the Interior and Local Government (DILG) Secretary Benjamin “Benhur” Abalos reported Wednesday. “Our stringent law enforcement efforts have borne fruit in 2023 with a total of P10.41 billion worth of confiscated illegal drugs and 27,968 barangays cleared of narcotics,” Abalos. said in his message for the agency’s New Year’s Call. He added that some 56,495 suspects were arrested in more than 44,000 anti-illegal drug operations. Abalos also said that they have worked w ith the justice sector to improve the handling of drug-related offenses and this resulted in

121,582 conv ictions since he took office some one and half years ago. “We also remained steadfast in our campaign against criminality. The PNP’s efforts have yielded positive results as we noted a decrease of 8.44 percent in the eight focused crimes: from 38,302 as of January to November 2022 to 35,085 as of January to November 2023, as well as a decrease of 7.32 percent in the non-index crimes from 160,016 as of January to November 2022 to 148,300as of January to November 2023,” he added. Abalos said the DILG also expanded its horizons and played a key role in thwarting emerging forms of crime. This was done by forging important partnerships with agencies, such as the Securities and Exchange Commission and the Anti-Money Laundering Council to go after scammers and money launderers. “The Marcos administration prom-

ised a comprehensive and holistic approach to addressing criminality. We have made significant strides in delivering this promise through the National Crime Prevention Program of the National Police Commission [Napolcom] under this program, we are balancing crime response with cr ime prevention, by dedicating significant resources towards crime predictive analytics, establishment of a crime knowledge management system, and working with partners here and abroad to enhance human rights-based policing,” the DILG chief noted. Abalos said these go hand-in-hand with ensuring the integrity of the police force by going after scalawags and scoundrels in its ranks. “In 2023, the Napolcom has investigated and prepared a total of 681 investigation reports and rendered decisions on 437 summary dismissal cases—including 76 who

PBBM sets March visit to Germany

RESIDENT Ferdinand R. Marcos Jr. on Thursday announced his upcoming v i s i t t o G e r m a n y, m a r k i n g a significant development in diplomatic ties and fostering international collaboration between the two nations. “We have been in contact with one another over the past few months simply because we have been trying to arrange a visit to Germany. And I think we finally have managed with [the help of ] the embassy’s staff, we’ve been driving them a little crazy,”

NCRPO ‘clean up’ assured after indictment of 177 Metro cops in drug-related offenses

HE chief of the Nationa l Capital Region Police Office (NCRPO) on Wednesday vowed to “clean up” the ranks of the command following the indictment of 177 Metro Manila police officers with drug-related offenses. “They have betrayed the public trust and undermined the integrity of the PNP. We will not tolerate this type of behavior within the ranks of the PNP [Philippine National Police]. We are committed to cleaning up the police force and restoring the public’s trust in our law enforcement officers,” NCRPO chief Major Gen. Jose Melencio Nartatez said in a statement. The NCRPO chief said they would be implementing new policies and procedures to prevent this from happening in the future. He added that these police officers will be held accountable for their actions, dismissed from the service, and prosecuted to the fullest extent of the law. “We know that we have a lot of work to do to rebuild trust in our community, but we are committed to doing what it takes to gain the public’s confidence and to make our communities safer,” he added. Earlier, President Ferdinand R. Marcos Jr. announced that 177 police officers in Metro Manila were charged for allegedly planting evidence, unlawful arrest, and excessive violence. “As part of our efforts to strengthen transparency and accountability in the conduct of our operations amid various allegations that have been tagging the police organization in the middle of the government’s intensified anti-illegal drugs campaign, we want to assure our community that the NCRPO is taking all necessary steps to address the involvement of police officers,” Nartatez said. He added that this is a major step in the ongoing effort to rid the PNP of corrupt and criminal elements.

Rex Anthony Naval

Marcos said following the courtesy call of German Federal Foreign Minister Annalena Baerbock in Malacañang. “’We keep moving things because things have been coming up. But I think we have come down on the March 12 date, and so I can commit to that now,”

he added. President Marcos expressed optimism about the potential outcomes of the visit, hinting at the anticipation of significant developments. While specific details about the agenda were not disclosed, the President

were dismissed from the service, 89 who were demoted, 93 who were suspended, and 11 who were reprimanded. We a lso charged 177 police of f icers w it h d r ug-re l ated of fenses i n Met ro Ma n i l a a lone, a nd sub jec ted 59 members of t he PNP to su m m a r y d ism issa l proceed i ngs concer ning the massive shabu bu st conduc ted i n Oc tober2022 involv ing for mer Master Sergeant Rodol fo Mayo,” he added. “A lmost exactly a year ago, we called for the courtesy resignations of the over 950 police colonels and generals to give way to the massive invest igat ion of our pol ice force over their complicity in the illegal drug trade. 18 resignations were accepted by President Marcos over the police officers’ drug ties, including two police brigadier generals and two police colonels who were charged in the Mayo case,” Abalos stressed.

alluded to the possibility of increased collaboration and cooperation between the Philippines and Germany. “I’m sure that after the visit to Berlin, many things will develop. We will be requiring your presence here more and more,” Marcos said, suggesting that the visit could serve as a catalyst for further engagements and partnerships between the two nations. Jovee Marie N. Dela Cruz

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

Friday, January 12, 2024

MGB projects ‘strong’ outlook for PHL mining industry in ’24 By Jonathan L. Mayuga @jonlmayuga

ith the sterling performance of the Philippine mining sector last year

amid “favorable” global mining developments, the Mines and Geosciences Bureau (MGB) is confident of declaring a bright outlook for the industry throughout the year. A total of 12 projects are expected to commence operation in the next six months, boosting the country’s metals production. In the first nine months of the previous year, the country’s metallic minerals production value remains robust, with a growth of 7.8 percent year-on-year, the MGB reported. With the various favorable factors being sustained, such as competitive world market prices of metals and the increasing demand for ore, the industry is off to a good start this year. During the first three quarters in 2023, the metallic mineral production value rose from P176.24 billion to P189.08 billion, a growth of P12.84

billion or 7.28 percent. Nickel ore and its nickel by-products, nickel-cobalt mixed sulfide (NCMS), and scandium oxalate continued to have the biggest share with P89.99 billion or 47.60 percent. Gold, meanwhile, landed second, with P77.65 billion or 41.07 percent. On the other hand, copper grabbed the third position accounting for P18.79 billion or 9.94 percent. The shared value of silver, chromite, and iron ore amounted to P2.64 billion, which is about 1.40 percent. In terms of regional contribution to total production, the MGB report said Caraga provided the largest impact with 31.93 percent or P60.36 billion, followed by the Mimaropa Region with13.52 percent or P25.56 billion, and in third was Cagayan Valley with 11.70 percent or P22.12 billion. According to the MGB, the Caraga

Region remains the country’s mining capital with two gold mines, one chromite mine, 18 nickel mines, one hydrometallurgical processing plant, and one gold processing plant. The Bangko Sentral ng Pilipinas gold purchases amounted to about P21.74 billion with five gold buying stations strategically located across the country. “On the international front, considering the clear shift towards renewable technologies or so-called green technologies coupled with the emerging industry technologies commonly known as the Fourth Industrial Revolution, the essential or critical metals for the advancement of said technologies remain under the spotlight,” the report stated. These include minerals, such as gold, nickel, cobalt, copper, and iron. “Founded on this premise the outlook for the mining industry remains strong,” the

report added. Another unprecedented development is Indonesia’s emergence as the country’s latest tight export market for nickel ore. China’s demand for ore from the Philippines is projected to grow as they begin to stock up given Indonesia’s supply situation together the anticipation of the rainy season, which is prevalent towards the end of the year in the Philippines particularly in the nickel-rich Caraga region. Lastly, the MGB reported that under its Priority Projects Phase I category for metallic mines, 12 projects are still expected to commence within the next six months. “If realized, this raises the upbeat expectation that the nation will be able to produce and export more of these goods given the high level of global demand in the future,” the MGB report added.

BusinessMirror

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January 12, 2024

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ESTABLISHMENT GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION HLAING HLAING MOE

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Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Brief Job Description: Manage incoming calls and customer service inquiries

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Burmese Customer Service Representative

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Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

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Indonesian Customer Service Representative

Able to speak, read and write Chinese and Indonesian language

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Php30,000 Php59,999

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

Salary Range: Php30,000 Php59,999

LE THE MANH

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

Salary Range:

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range: Php30,000 Php59,999

Php30,000 Php59,999

NGUYEN HAO GIANG

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

Salary Range: Php30,000 Php59,999

NEGISHI, MASANORI

Basic Qualification:

JPI Bldg., Linares Extension, Gateway Business Park, Javalera, City of General Trias, Cavite

General Manager for Accounting and HR

Possess strong knowledge in financial reporting and accounting procedures and compensation processes

MAXIMUM SOLUTIONS CORPORATION Ground Floor, April’s Place, Tanchoco Avenue, El Monteverde, San Juan, Taytay, Rizal

Salary Range: Php500,000 and above

AYE AYE AUNG

Basic Qualification:

Human Resources Business Partner Manager

Must have at least 3 years experience related to human resources management

Brief Job Description: Overall human resources facet, with labor rights observance

Salary Range: Php60,000 – Php89,999

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 Regional Office IV-A located at 3rd and 4th Floors, Andenson Building II, Parian, Calamba City, Laguna, within 30 days after this publication. Please inform DOLE Regional Office IV-A if you have any information on criminal offense committed by the foreign nationals.

Php30,000 Php59,999

LE THI NGOC PHUONG

Salary Range:

JAE PHILIPPINES, INC.

Salary Range: 18

Php30,000 Php59,999 Basic Qualification:

Responsible for directing and controlling all company’s financial matters, such as financial accounting, management accounting, cost accounting, investment and internal accounting

Basic Qualification:

Salary Range:

LUONG, PHUONG HUE

Able to speak, read and write Chinese and Vietnamese language

HUYNH, XUAN KHOA

Php30,000 Php59,999 Basic Qualification:

Vietnamese Customer Service Representative

Php30,000 Php59,999

Salary Range:

LE, VIET QUANG

Brief Job Description:

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries

Salary Range:

LE, VAN DUNG

Manage incoming calls and customer service inquiries

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries

Salary Range:

LE, THANH LONG

Basic Qualification:

Manage incoming calls and customer service inquiries

Brief Job Description:

HO, THI THANH DIEM

Manage incoming calls and customer service inquiries

Manage incoming calls and customer service inquiries 8

Able to speak, read and write Chinese and Vietnamese language

Manage incoming calls and customer service inquiries

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 7

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary Range:

HA DUC VAN

Brief Job Description:

GLARION TECHNOLOGIES CORPORATION

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries

Salary Range:

DUONG, VAN THANH

Brief Job Description:

Vietnamese Customer Service Representative

Manage incoming calls and customer service inquiries

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary Range:

MELVIN JUAN CHARLES

Brief Job Description:

Basic Qualification:

Php30,000 Php59,999 Basic Qualification:

Brief Job Description:

GLARION TECHNOLOGIES CORPORATION

Salary Range:

KYAN SE FAR

Manage incoming calls and customer service inquiries 4

Php30,000 Php59,999 Basic Qualification:

Brief Job Description:

Salary Range:

HNIN HNIN OO

Manage incoming calls and customer service inquiries 3

QUALIFICATION AND SALARY RANGE

LE, KHANH LINH

Manage incoming calls and customer service inquiries

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NO.

Friday, January 12, 2024

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph

6 A6 A

Friday, January 12, 2024

BusinessMirror

www.businessmirror.com.ph

News

BusinessMirror

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

Friday, January 12, 2024

PEZA invites Japan SMEs to select PHL as supply hub for local, foreign buyers By Andrea E. San Juan

@andreasanjuan

HE Philippine Economic Zone Authority (PEZA) is inviting Japanese small and medium enterprises (SME) to choose the Philippines as their hub to help them maintain supply to their local market and, at the same time, attain their export commitments. In a televised interview on Thursday, PEZA Director General Tereso O. Panga said the investment promotion agency (IPA) aims to leverage the huge potential of Japanese SMEs as “they account for the biggest sector in Japan economy.” “In order for us to support their going global when it comes to scaling up operations, we’re offering the Philippines to be their hub not just to supply to the

local market or to support their export commitments as well,” Panga said. Asked which are the sectors that they can leverage if they were to set up shop in the Philippines, Panga told the BusinessMirror that the IPA is looking at “semiconductor and electronics because they comprise the highest number of PEZA RBEs [registered business enterprises],” adding this will complement the supply chains of other players. The PEZA chief also highlighted that Japan SMEs can leverage “any other export manufacturing activity that looks to leverage on the country’s huge labor pool.” “We have constant interest from Japanese SMEs as our current pool of investors [most have seen their business grow in the Philippines over decades of operations] serve as our brand ambassadors to other aspiring SMEs. By doing so, we capitalize

on the networks of our RBEs,” Panga said. From July 2022 to December 2023, PEZA noted that there were seven Japanese SMEs that are registered with the agency across various sectors, such as Business Process Outsourcing (BPO), Warehousing and Storage, among others. Data obtained by the BusinessMirror from the agency showed that of these seven Japanese RBEs, two are under the warehousing and storage sector with total project cost of P41.599 million, while the Japanese SME with the largest project cost of P475.50 million is into Real Estate Activities. There’s also a Japanese enterprise that’s into Fabricated Metal Products, Except Machinery and Equipment, with project cost of P221.239 million, PEZA noted. Other Japanese SMEs registered with PEZA are into BPO, P2.28 million; Call

Sen. Villanueva seeks immediate completion of Trabaho Act’s IRR By Butch Fernandez @butchfBM

ESPITE the decline in the country’s unemployment rate as reflected in the November 2023 data, there is an urgent need to fast track the completion of the Implementing Rules and Regulations (IRR) of the Trabaho Para Sa Bayan (TPB) Act, “as instructed by no less than President Bongbong Marcos,” according to Senate Majority Leader Joel Villanueva. “The full implementation of the TPB Act, a measure which we principally sponsored and authored, will ensure that we will have a comprehensive and synergized employment plan that is aligned with our incentive system giving priority to education and training and employment generation,” Villanueva said on Thursday as he reacted to the latest report of the Philippine Statistics Authority (PSA). On Tuesday, the PSA said the number of unemployed Filipinos declined to 1.83 million, or an unemployment rate of 3.6 per-

cent, the lowest since April 2005. (https:// businessmirror.com.ph/2024/01/09/ jobless-rate-in-november-lowest-since2005-neda/). However, PSA data showed 8 million Filipinos did not participate in the labor force because they had to attend to household duties. This is on top of the 11.966 million who are not in the labor force because they are in school. “We laud the decline of unemployment rate to 3.6 percent last November 2023 from 4.2 percent in October, the lowest unemployment rate since 2005,” the senator said, noting, “The continuous improvement is a clear indication that our economy, particularly our labor sector, has fully recovered and that the policies being implemented are working.” Villanueva, who previously presided as chair man of the Senate L abor Committee, acknowledged, however, “our job is not done yet.” He clarified that “amid reports that while

the November data showed a decline in jobless numbers, it also reflected the increasing number of people, mostly women, opting out of the labor force, invoking as reason the need to attend to “household duties.” Moreover, the senator cited “some experts had also noted there was a proliferation of low-quality” jobs that offer little or no social protection. Villanueva indicated that “as our labor market continues to improve and with more job opportunities from foreign investors expected to materialize this year, we need to see a sustained effort to keep our unemployment numbers low and not only during the holiday season.” The senator reminded this was why he stressed that it is very important to finish the crafting of the IRR of the Trabaho law. At the same time, the senator stressed, “Quality laws, like the TPB, are the product of the hard work of the Senate as an institution in crafting laws that would benefit the people.”

Energy policy group issues guidance to avert another widespread blackout on Panay Island By Lenie Lectura @llectura

N a bid to prevent another Panay Island blackout, the Institute for Climate and Sustainable Cities (ICSC) strongly recommended for more power generation, including energy storage system and renewable energy (RE), and completion of transmission projects. “Given the recent blackouts in Panay, a reevaluation of the island’s energy mix and grid resilience measures is imperative. This can include exploring advanced energy storage technologies, enhancing grid interconnections, and strategically integrating renewable energy sources to diversify the island’s energy portfolio,” the group said. ICSC is a climate and energy policy group that promotes climate resilience and low-carbon development. It examined the factors that resulted in the largescale power outages and highlighted the importance of distributed and flexible power generation in preventing another island-wide blackout.

Since the island is heavily dependent on coal-fired power plants, any disturbance can have disastrous effects on the entire sub-grid. Thus, ICSC said generation and grid planning must evolve to embrace more distributed sources to ensure grid stability, reducing reliance on a few power plants. “Through distributed generation, power generation becomes more resilient, less susceptible to single-point failures, and adaptable to variable demand conditions. A diversified mix of energy sources, including renewables and other distributed technologies, can contribute to a more robust and reliable energy infrastructure, leading to more affordable, reliable, and secure power for Filipinos,” it said. Based on its own evaluation, ICSC said the total system blackout occurred because there was not enough power generation to meet the demand in Panay Island, as all four large coal-fired power plants became unavailable. While the incident was mainly a power generation problem, more issues came up that, if addressed, could have prevented the island-wide blackout. “Had NGCP implemented manual load

dropping in the 2-hour window, to which the red alert status should have been declared in the whole island, rotating power outages could have significantly reduced the load demand requirements in Panay. If this were the case, even with the subsequent tripping of PEDC 2 (Panay Energy Development Corp.) and PCPC (Palm Concepcion Power Corporation), the remaining power sources would have been able to shoulder the reduced load demand requirements,” said ICSC. Last January 2, residents of Panay, the sixth largest island in the Philippines covering the provinces of Aklan, Antique, Capiz, and Iloilo, and parts of Guimaras experienced large-scale blackouts for four days. Local governments and business groups from Panay and Guimaras Islands have called for an investigation, demanding accountability from the National Grid Corporation of the Philippines, Department of Energy, and Energy Regulatory Commission. Iloilo City Mayor Jerry Treñas said the blackouts resulted in an estimated P2 billion worth of economic losses.

Group urges DA to protect local fish producers amid El Niño fears

N alliance of small fishermen and fisherfolk on Thursday urged the Department of Agriculture (DA) to put in place measures that will protect domestic capture fisheries production amid the El Niño threat. In a statement, Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) suggested direct procurement of agri-fishery products from small producers at reasonable farm-gate prices and delivery of the produce to consumers at affordable prices. Pamalakaya made the recommendation amid reports DA is seeking to revise a law clause to stabilize commodities in preparation for the food shortage linked to the looming El Niño. “The government’s continuous neglect to intervene in the marketing system allows many layers of middlemen and private traders to manipulate the

farm gate and retail prices to unreasonable rates. This system in the agricultural trade has put both the local food producers and consumers at a disadvantage,” Pamalakaya national chairman Fernando Hicap said. Hicap asserted the role of the DA to ensure that agricultural commodities are directly procured from farmers and fishers, and ultimately retail them at affordable prices for the interest of ordinary consumers. The group vowed to continue its campaign for the enactment of alternative measures that would strengthen agriculture and fisheries production through government subsidy or support. These include House Bill 405 or the Rice Industry Development Act, which aims to attain national food security based on self-sufficiency and self-reliance. According to Pamalakaya, the pending law

specifically pushes to allocate a P185-billion budget for three-year core programs, such as production support via socialized credit, farm inputs and machinery, accelerated infrastructure development programs, post-harvest facilities, and research and development. Meanwhile, House Bill 2024, or the Production Subsidy Bill, seeks to provide P15,000 production subsidy to over two million registered fisherfolk nationwide. Lastly, the group said it is supporting House Bill 1161, or the Genuine Agrarian Reform Bill, which seeks a free land distribution to Filipino farmers. “These are among the effective measures to brace our food production amid the looming threat of El Nino and other natural calamities,” Hicap said. Jonathan L. Mayuga

Centers, P4.822 million and Recycling, P41.20 million. According to PEZA, it is targeting to grow investments from Japan by 20 percent in 2024, which could translate to around P70 to P80 billion in investments. “The 20-percent increase in 2024 is our target growth this year and we are set to undertake increased investment promotions in Japan to target specifically their SMEs. We are collaborating for instance with the large and regional banks in Japan to help us with our target acquisitions and for networking with their valued clients,” Panga said. In 2023, the investment promotion agency noted it secured P52.2 billion worth of investments from the Japanese market alone while it clinched P17.7 billion in investments in 2022. “Overall, they continue to be our biggest investors in the PEZA zones,” Panga said.

‘To ensure growth, Marcos must focus on infraspend’ Continued from A14

Economic performance

THE Philippine economy is expected to grow by 6 percent this year while inflation could fall within the Bangko Sentral ng Pilipinas (BSP) target at 3.8 percent. Growth in 2023, to be announced toward the end of this month, is expected to average 5.5 percent. This will be on the back of a projected 6.4-percent and 6.1-percent growth of the Services and Industry sectors, respectively. FMIC-UA&P said growth will be driven by robust private consumption, increased government infrastructure spending, a strong labor market, and the recovery of domestic tourism. The country’s external sector remains stable, with manageable external debt, decreasing debtto-GDP ratio and substantial Gross International Reserves (GIR) exceeding $100 billion, equivalent to seven and a half months’ worth of imports.

Risks watched

MEANWHILE, the think tank is watching geopolitical risks that could derail growth globally and in the region. Abola said these “flash points” include the Middle East, Taiwan elections, and the West Philippine Sea. However, if things change, especially in the West Philippine Sea, this will have a greater impact. “Instead of water cannons, they use real-life bullets. That’s my definition of a different scenario because China, of course, is trying to bully us because they see us as weak,” Abola said. In as far as domestic political risks arer concerned, Abola saw nothing “new on the horizon” given that it is widely exprected that the Vice President will run for President and is still one of the top contenders for 2028.

AFTER 2ND PANAY BLACKOUT, SOLONS SEEK ACCOUNTABILITY Continued from A14 “We need generation plus transmission and distribution,” Almeda said. Meanwhile, Clark Agustin, national system operations head of the NGCP, reiterated that the grid remained in a “normal” state before and when the unplanned outage of Panay Energy Development Corp. (PEDC) Unit 1 hit Panay Island and other parts of Western Visayas. “We followed what the Philippine Grid Code required us to do, and then we assessed the system, and based on the assessment, it was normal,” he said. For his part, Negros Occidental Rep. Francisco Benitez stressed the need for a swift and effective response from energy stakeholders. “It is dismaying to have had a second incident so quickly after the previous one,” Benitez said. Benitez drew attention to the disparity between the pace of legislative processes and the urgent actions required from energy stakeholders. The slow wheels of legislation seem to move faster than the responses of those responsible for the region’s energy infrastructure. For her part, Iloilo Rep. Julienne Baronda highlighted the severe impact of the blackout, not only on the well-being of the residents but also on the local economy. She noted the economic losses estimated to be around P1 billion per day, resulting in a staggering P4 billion lost in the span of four days. She urged the committee to explore possible fines or penalties to be imposed against those found negligent in their responsibilities. Jovee Marie N. Dela Cruz

BusinessMirror

Friday, January 12, 2024

A6 A8

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS NAME OF FOREIGN NATIONAL , POSITION QUALIFICATION AND AND BRIEF DESCRIPTION SALARY RANGE 7 PRIME TECH, INC. 10/f Ewestpod, Eton Westend Square, Yakal St. Cor. Don Chino Roces Ave., San Antonio, City Of Makati ALDO WIJAYA Indonesian Speaking Customer Service Officer Basic Qualification: Foreign language speaking. 1. Brief Job Description: Manage large amount of calls, and handle customer Salary Range: concerns. Php 30,000 - Php 59,999 No.

AB LEISURE EXPONENT, INC. 5/f Sm Megamall Bldg. D, J Vargas, Wack-wack Greenhills, City Of Mandaluyong CHEN, WU-HSIEN Basic Qualification: Mandarin Operations Specialist Can speak Mandarin language. 2. Brief Job Description: Maintain accurate sales records. Salary Range: Php 150,000 - Php 499,999 LIU, ZONGQIANG Basic Qualification: Mandarin Operations Specialist Can speak Mandarin language. 3. Brief Job Description: Maintain accurate sales records. Salary Range: Php 150,000 - Php 499,999 Basic Qualification: ZHOU, WEI Can speak Mandarin Mandarin Operations Specialist language. 4. Brief Job Description: Salary Range: Maintain accurate sales records. Php 150,000 - Php 499,999 ACCENTURE, INC. 7f Robinsons Cybergate Tower 1, Pioneer St., Barangka Ilaya, City Of Mandaluyong Basic Qualification: Customer service skills. Japanese language level: YI, YIN N2 to Native Level. Post Bus Process Delivery Specialist graduate/graduate with 7 to 8 years of work experience. Brief Job Description: 5. Prior transition experience Supervise Accounts Payable Team. Responsibilities not preferred. limited to Invoice Processing, Payments, Approvals Management, Vendor Management. Salary Range: Php 30,000 - Php 59,999

IWATA, RUMI Order To Cash Operations Senior Analyst 6.

Brief Job Description: Responsible for identifying, developing, and helping sales teams with complex products.

MEDENNIKOV, ILIA Tech Writing & Translation Sr Analyst 7.

Brief Job Description: Create support documentation for technical products. Translate critical technology documents and materials.

ASPIRE STANDARD SOLUTION SERVICES INC. 208 B 2/f Mtf Bldg., Dr. A. Santos Avenue, San Isidro, City Of Parañaque

10.

FENG, CHENGQIAO Marketing Consultant Brief Job Description: Study company profile, and conduct market research.

OHAYON, SHARON Marketing Consultant Brief Job Description: Study company profile, and conduct market research.

TRINH THI HOAI GIANG Marketing Consultant Brief Job Description: Study company profile, and conduct market research.

Basic Qualification: Excellent knowledge of Telecom and its processes. Flexible to adapt processes and system rules to drive business outcomes. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Information Technology, Computer Science or other relevant fields. Proficient in required Language.

No.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in Mandarin and English languages and preferably 6 mos. to 1 year work experience in the same field. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in Mandarin and English languages and preferably 6 mos. to 1 year work experience in the same field.

MU, SHIYU Chinese Speaking Business Financial Officer 19.

Salary Range: Php 30,000 - Php 59,999 CHINA ENERGY ENGINEERING CORPORATION LIMITED (ENERGY CHINA PHILIPPINES BRANCH OFFICE) Unit 916 9th Floor High Street South Corporate Plaza Tower 1, 26th Street Corner 9th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig Basic Qualification: Strong math skills including MO, LIYIN algebra, geometry, and Chinese Construction Estimator basic arithmetic. Ability to navigate specifications Brief Job Description: and plans. Ability to handle 13. Draws up, estimates, and determines the overall costs multiple assignments at of a new or existing construction project. They create once. Excellent written and a list with all the needed materials and write down an verbal communication skills. estimated amount necessary to complete the project. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and CAO, YICHEN communicate using Chinese Construction Sales Manager Mandarin language is an advantage. Conflict Brief Job Description: management and 14. Maintain responsibility for performance of all sales problem-solving skills. activities within an assigned territory. Set team goals and Communication, meeting, conduct quarterly performance reviews with all team and presentation skills. members. Provide strong leadership to achieve maximum profitability and growth in conjunction with company. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Writing daily reports, preparing general ledgers, trial balance, and other financial statements.

REN, YAJUN Chinese Speaking Business Financial Officer 20.

Brief Job Description: Writing daily reports, preparing general ledgers, trial balance, and other financial statements.

XU, QIANG Chinese Speaking Business Financial Officer 21.

Brief Job Description: Writing daily reports, preparing general ledgers, trial balance, and other financial statements.

ZHU, GE Chinese Speaking Business Financial Officer 22.

Brief Job Description: Writing daily reports, preparing general ledgers, trial balance, and other financial statements.

LIU, XIAO Chinese Speaking Customer Financial Officer 23.

QUALIFICATION AND SALARY RANGE

Brief Job Description: Referring customers to individuals qualified to offer and sell regulated financial products.

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

No.

24.

25.

26.

CAI, LIRONG Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentation. CHEN, ZEPING Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentation. YE, RONG Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentation.

31.

27.

Brief Job Description: Identify and maintain new business opportunities and existing partners. TANG, DAN Chinese Speaking Data Entry Clerk

28.

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

29.

Brief Job Description: Entering and updating information into relevant databases. KRISTIANTO Chinese Speaking Graphic Designer

30.

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

EASTERN GOLD CORPORATION 503, Nueva St., Barangay 289, Binondo, City Of Manila

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas.

ANG JING CHONG Procurement Manager Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE Basic Qualification: Can contribute information, ideas, and research to help develop marketing strategies and can help to detail, design, and implement marketing plans for each product or service being offered.

Salary Range: Php 30,000 - Php 59,999 GIGA INFORMATION TECHNOLOGY AND SOFTWARE DEVELOPMENT INC. 2/f Lipam’s Building, 40 Presidents Avenue, B. F. Homes, City Of Parañaque CHEN, WEIFENG Basic Qualification: Bilingual Customer Service Representative Foreign language speaking. 32. Brief Job Description: Salary Range: Manage large amount of incoming calls. Php 60,000 - Php 89,999 AGBOR, LOVELINE ETENGENENG Basic Qualification: Cameroonian Customer Service Representative Foreign language speaking. 33. Brief Job Description: Salary Range: Collaborate with cross-functional teams to translate digital Php 60,000 - Php 89,999 strategies into product deliverables. LEVAI, KOYILA LEBGA Basic Qualification: Cameroonian Customer Service Representative Foreign language speaking. 34. Brief Job Description: Salary Range: Collaborate with cross-functional teams to translate digital Php 60,000 - Php 89,999 strategies into product deliverables. XU, JINCAN Basic Qualification: Chinese Finance Manager Foreign language speaking. 35. Brief Job Description: Salary Range: Perform data analysis and advise senior managers on Php 60,000 - Php 89,999 profit-maximizing ideas. CHEN, MINGJIE Basic Qualification: Chinese Financial System Manager Foreign language speaking. 36. Brief Job Description: Salary Range: Perform data analysis and advise senior managers on Php 60,000 - Php 89,999 profit-maximizing ideas. XU, TIANYU Basic Qualification: Chinese Financial System Manager Foreign language speaking. 37. Brief Job Description: Salary Range: Perform data analysis and advise senior managers on Php 60,000 - Php 89,999 profit-maximizing ideas. DIN, MACAYA CELIA Basic Qualification: Ivoirienne Customer Service Representative Foreign language speaking. 38. Brief Job Description: Salary Range: Collaborate with cross-functional teams to translate digital Php 60,000 - Php 89,999 strategies into product deliverables. SEGBEU, DINH REINE DORIA Basic Qualification: Ivoirienne Customer Service Representative Foreign language speaking. 39. Brief Job Description: Salary Range: Collaborate with cross-functional teams to translate digital Php 60,000 - Php 89,999 strategies into product deliverables. HUAWEI TECHNOLOGIES PHILS. INC. 53/f Pbcom Tower, 6795 Ayala Ave., Cor., V.a. Rufino St., Bel-air, City Of Makati Basic Qualification: With at least 3-year work experience specializing KOH PUI MUN in designing IC layouts Network Design Specialist For WDM Network Design And from schematic diagrams, Bidding (PLDT Project Inspire) with a thorough understanding of designing, 40. Brief Job Description: developing, configuring Serves as the specialist to provide network domain and implementing the planning and analysis. To engage directly with marketing technical solution (DWDM) team, project team, and customer for the purpose of for sustainable network promoting and delivering strategic services. infrastructure.

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

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 8th/f & 10th/f Platinum Tower Building, Aseana Ave. Cor. Fuentes Street, Baclaran, City Of Parañaque MOU, XINYU Chinese Speaking Business Development Associate

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CHEN, CHUNHONG Marketing And Sales Agent

DEXIN INTERNATIONAL IMPORT AND EXPORT CORP. 534, Tomas Mapua St., Barangay 298, Santa Cruz, City Of Manila

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

BRENMEDIA INTERNATIONAL INC. 10 Flr Unit Q Cyber One Bldg., Eastwood Cyberpark City, Bagumbayan, Quezon City CHAN, HSIU-HSIANG Basic Qualification: IT Support College graduate. With previous work experience in 11. Brief Job Description: a related industry. Troubleshooting of technical issues, diagnosing and repairing of faults in the system and resolving network Salary Range: issues. Php 30,000 - Php 59,999 C’EST LA VIE EVENT MANAGEMENT INC. 230, Narra Street, Marikina Heights, City Of Marikina Basic Qualification: Can work as an independent consultant to provide marketing expertise to DAI, HONGBIN clients, and can research General Trade Marketing Specialist Consultant industries, markets, 12. demographics, trends, Brief Job Description: sales results, and other Responsible for developing and executing commercial data related to the client’s strategies. products or services.

ESTABLISHMENT / ADDRESS

CRONYX INC. 6-12, 15-19/f Royal Peak Tower A, 485 Quirino Avenue, Tambo, City Of Parañaque DONG, ZHANCHAO Basic Qualification: Chinese Speaking Program Designer With at least 6 months of work experience. Good in Brief Job Description: verbal communication and 15. Communicate overall design and approach to a team written. of programmers and create flowcharts, diagrams, other models, and programming instructions to guide Salary Range: programming team. Php 30,000 - Php 59,999 LIU, LONGLONG Basic Qualification: Chinese Speaking Program Designer With at least 6 months of work experience. Good in Brief Job Description: verbal communication and 16. Communicate overall design and approach to a team written. of programmers and create flowcharts, diagrams, other models, and programming instructions to guide Salary Range: programming team. Php 30,000 - Php 59,999 MU, YUNTAO Basic Qualification: Chinese Speaking Program Designer With at least 6 months of work experience. Good in Brief Job Description: verbal communication and 17. Communicate overall design and approach to a team written. of programmers and create flowcharts, diagrams, other models, and programming instructions to guide Salary Range: programming team. Php 30,000 - Php 59,999 DA PROSPERITAS HOLDING INC. 2/f National Life Insurances Bldg., 6762 Ayala Ave., San Lorenzo, City Of Makati Basic Qualification: LI, TINGDONG With at least 6 months of Chinese Speaking Business Financial Officer work experience. Good in verbal communication and 18. Brief Job Description: written. Writing daily reports, preparing general ledgers, trial balance, and other financial statements. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in Mandarin and English languages and preferably 6 mos. to 1 year work experience in the same field.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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41.

Brief Job Description: Create sales product presentations through our team of platform and application consultants. Process customer approvals by ensuring proper payment collection and process orders with company vendors. Communicate with internal scheduling resources and customers.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: With at least 3-year work experience with locating key suppliers, negotiating the company’s purchasing agreements. With expertise in cost benefits analysis, negotiating prices, managing client expectation and overseeing entire supply chain process. Salary Range: Php 30,000 - Php 59,999

INFOVINE INC. 9/f Y Tower, Moa Complex, Coral Way Drive Cor. Macapagal, Barangay 76, Pasay City 8th, 9th, 10th/f Aspire Corporate Plaza Bldg., Macapagal Blvd. St., Zone 10, Barangay 76, Pasay City Basic Qualification: WANG, JINHUI With at least 6 months of Chinese Speaking Data Entry Clerk work experience. Good in verbal communication and 42. Brief Job Description: written. Entering and updating information into relevant databases. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: HOANG THI CAM Have excellent verbal and Chinese Speaking Graphic Designer written communication skills and able to organize their 43. Brief Job Description: work using tools. Liaising with clients to determine their requirements, timescale and budget Salary Range: Php 30,000 - Php 59,999 Basic Qualification: PHAM THI THANH UYEN Have excellent verbal and Chinese Speaking Graphic Designer written communication skills and able to organize their 44. Brief Job Description: work using tools. Liaising with clients to determine their requirements, timescale and budget. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: TAN JI YAO Have excellent verbal and Chinese Speaking Graphic Designer written communication skills and able to organize their 45. Brief Job Description: work using tools. Liaising with clients to determine their requirements, timescale and budget. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: BEZOBRAZOVA, DARIA Have excellent verbal and Chinese Speaking Program Designer written communication skills and able to organize their 46. Brief Job Description: work using tools. Collaborate with other IT specialists, and technicians to deliver software solutions. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CHEN, FENG Ability to concentrate for Chinese Speaking Program Designer lengthy periods. With good verbal and written 47. Brief Job Description: communication skills. Collaborate with other IT specialists, technicians, etc., to deliver software solutions. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HA THI NGA Chinese Speaking Program Designer

48.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions. MAI LE THANH TRUC Chinese Speaking Program Designer

49.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions. NGUYEN THI HUYEN Chinese Speaking Program Designer

50.

ESTABLISHMENT / ADDRESS

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

No.

67.

68.

69.

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

MACRO EXCEL CONSULTANCY INC. Unit 606 6/f Vicente Madrigal Bdg., 6793 Ayala Ave., Bel-air, City Of Makati HU, ZHIYUAN Chinese Speaking Solutions Consultant 51.

Brief Job Description: Research and develop core product differentiators, positioning and competitive analysis.

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999

MANNAGE RESOURCES TRADING CORP. Unit C-d 17th/f Marco Polo Hotel Ortigas,, Manila Sapphire, San Antonio, City Of Pasig WANG, HONGYOU Basic Qualification: Marketing Manager - Mandarin Speaking College graduate. With previous work experience in Brief Job Description: a similar industry. 52. Coordinate marketing campaigns and lead marketing staff. Work closely with members of the advertising or sales Salary Range: department and oversee the department’s marketing Php 30,000 - Php 59,999 budget and refine campaign strategies.

70.

71.

72.

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque LIU, FENG Chinese Speaking Business Development Associate 53.

Brief Job Description: Identify and maintain new business opportunities and existing partners. LYU, WENJING Chinese Speaking Business Development Associate

54.

Brief Job Description: Identify and maintain new business opportunities and existing partners. TRUONG, QUOC HIEU Chinese Speaking Business Development Associate

55.

Brief Job Description: Identify and maintain new business opportunities and existing partners. YANG, XIANGLEI Chinese Speaking Business Development Associate

56.

Brief Job Description: Identify and maintain new business opportunities and existing partners. SU, SY LENH Chinese Speaking Data Entry Clerk

57.

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

58.

Brief Job Description: Scanning through information to identify pertinent information.

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

59.

60.

61.

62.

63.

64.

65.

66.

Brief Job Description: Customer support and data base services.

HE, HAO Chinese Customer Service Brief Job Description: Customer support and data base services.

HE, JUNJIE Chinese Customer Service Brief Job Description: Customer support and data base services.

HE, SHIFEN Chinese Customer Service Brief Job Description: Customer support and data base services.

KONG, DEHUA Chinese Customer Service Brief Job Description: Customer support and data base services.

LIU, XIAODI Chinese Customer Service Brief Job Description: Customer support and data base services.

MENG, YI Chinese Customer Service Brief Job Description: Customer support and data base services.

TAO, BIN Chinese Customer Service Brief Job Description: Customer support and data base services.

74.

75.

76.

77.

78.

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

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

73.

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

79.

80.

81.

82.

83.

84.

85.

86.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, CONG Chinese Customer Service Brief Job Description: Customer support and data base services.

YANG, WENMIN Chinese Customer Service Brief Job Description: Customer support and data base services.

YAO, WANGSHAN Chinese Customer Service Brief Job Description: Customer support and data base services.

YU, GUANGLIANG Chinese Customer Service Brief Job Description: Customer support and data base services.

ZENG, XU Chinese Customer Service Brief Job Description: Customer support and data base services.

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

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

KWON, JAESEOK Korean Customer Service Brief Job Description: Customer support and database services.

THOO KOOI WOON Malaysian Customer Service Brief Job Description: Customer support and database services.

DAR WI Myanmari Customer Service Brief Job Description: Customer support and data base services.

DAO TIEN DUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

DUONG VAN HUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

HOANG, THI HANH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LE, THI YEN NHI Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN LUAN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN VAN HOA Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN VIET HUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN VIET TANG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

TRAN HUU CHINH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

TRUONG, THI HAI THANH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

Friday, January 12, 2024

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999

No.

87.

QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer applications with good verbal and written communication skills.

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

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

NEW PRIME INDOOR CONSULTANCY CORP. Shop 2 No. 319, San Nicolas Street, Barangay 284, San Nicolas, City Of Manila Basic Qualification: Excellent problem -solving, communication, and teamworking skills.

WU, MIANMIAN Research Analyst For Chinese Client 88.

Brief Job Description: Examine and validate the accuracy of the data to ensure that it produce meaningful information.

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

NOVATECH (PASAY) LIMITED, INC. 4f Wmall Bldg., D. Macapagal Ave. District 1 Zone 10, Barangay 76, Pasay City LU MAN NHI Account Manager

89.

Brief Job Description: The Account Managers also answer client queries and identify new business opportunities among existing customers. In this role, you will liaise with cross-functional internal teams (including Customer Service and Product Development departments) to improve the entire customer experience.

Basic Qualification: Ability to collect, track, and analyze large amounts of data. Salary Range: Php 90,000 - Php 149,999

PMFTC INC. Plant C & D, Champaca Ii, Fortune, City Of Marikina JAIN, RISHABH Head, Business Planning 90.

Basic Qualification: Minimum 15 years work experience, preferably with multi-function and multicountry experience and exposure.

Brief Job Description: Provide an overall strategic planning and business development service to local, regional and PMI management that includes the facilitation and communication of strategy and long-range plan (LRP) direction and initiatives.

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

POWERCHINA PHILIPPINES CORPORATION Unit 2101 21/f Bdo Equitable Tower, 8751 Paseo De Roxas, Bel-air, City Of Makati WANG, JING Chinese Technical Works Supervisor 91.

Brief Job Description: Provides work direction and participates in the construction, installation, operation, maintenance, inspection, and repair of electronic, electrical, mechanical, scientific instrumentation, and other various systems. SUN, PENG Multilingual Business Manager

92.

Brief Job Description: Oversees the activities of other workers. Hires, trains, and evaluates new employees.

Basic Qualification: Fluent in Mandarin and English languages both in written and verbal. With working knowledge in the field of construction. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin and English languages both in written and verbal. With working knowledge in the field of construction. Salary Range: Php 30,000 - Php 59,999

RIDGE OUTSOURCING SERVICES INC. 46/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

93.

94.

FENG, SHENG Chinese Customer Service Representative

Basic Qualification: Foreign language speaking.

Brief Job Description: Manage large amount of incoming phone calls. SURYANTO Indonesian Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign language speaking.

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

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

SANY PHILIPPINES INC. Unit 18-a 18/f, Trafalgar Plaza 105 H.v Dela Costa St., Salcedo Village, Bel-air, City Of Makati Basic Qualification: Can conduct market research to find answers about consumer requirements, habits and trends. Can brainstorm and develop ideas for creative marketing campaigns. Can assist in outbound or inbound marketing activities by demonstrating expertise in various areas.

SONG, KUIRAN Marketing Specialist 95.

Brief Job Description: Responsible for developing and managing all aspects of the company’s marketing strategy.

Salary Range: Php 30,000 - Php 59,999 VISION-ALLIANCE INCORPORATED 9/f Platinum Tower Building, Aseana Avenue Cor. Fuentes Street, Baclaran, City Of Parañaque CHNG TING HUI Mandarin Speaking Admin Associate 96.

Brief Job Description: Performs administrative duties related to the operations of the human resource and business service office of the Chinese team.

Basic Qualification: College graduate. With excellent communication skills, particularly in ChineseMandarin language. Salary Range: Php 30,000 - Php 59,999

WELL SOLUTION CORP. Unit 1100-d 11/f Vicente Madrigal Bldg., 6793 Ayala Avenue, Bel-air, City Of Makati SHI, HANG Chinese Speaking Brand Marketing Specialist

97.

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

Brief Job Description: Assisting with the analyses of marketing data, including campaign results, conversion rates, and online traffic in order to improve future marketing strategies and campaigns.

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

ZHANG, ALEI Chinese Speaking Brand Marketing Specialist 98.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

Brief Job Description: Assisting with the analyses of marketing data, including campaign results, conversion rates, and online traffic in order to improve future marketing strategies and campaigns.

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

LI, BO Chinese Speaking Sales Marketing Specialist 99.

Brief Job Description: Supporting the marketing team with marketing activities by demonstrating expertise in various areas, including optimization, advertising, social media, direct marketing, and event planning.

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999

*Date Generated: Jan 11, 2024 In the ad material of Notice of Filing of Application for Alien Employment Permits published on January 5, 2024, the position of ITO, MANA under the company JMATERIALS CORPORATION, should have been read as JAPANESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

A10 Friday, January 12, 2024

TheWorld BusinessMirror

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

Nearly 10,000 died from Covid last month, fueled by holiday gatherings and new variant, WHO says

ENEVA—The head of the UN health agency said Wednesday holiday gatherings and the spread of the most prominent variant globally led to increased transmission of Covid-19 last month.

Tedros Adhanom Ghebreyesus said nearly 10,000 deaths were reported in December, while hospital admissions during the month jumped 42 percent in nearly 50 countries—mostly in Europe and the Americas—that shared such trend information.

“A lthough 10,000 deaths a month is far less than the peak of the pandemic, this level of preventable deaths is not acceptable,” the World Health Organization director-general told reporters from its headquarters in Geneva. He said it was “certain” that

TEDROS ADHANOM GHEBREYESUS, Director General of the World Health Organization (WHO), speaks to journalists during a press conference at the World Health Organization (WHO) headquarters in Geneva, Switzerland on April 6, 2023. The head of the UN health agency says holiday gatherings and the spread of the most prominent variant globally led to increased transmission of Covid-19 last month. MARTIAL TREZZINI/KEYSTONE VIA AP

Ukraine’s Zelenskyy says Russia can be stopped but Kyiv badly needs more air defense systems By Liudas Dapkus The Associated Press

ILNIUS, Lit hu ania— Ukraine has shown the world that Russia’s milita r y ca n be stopped, President Volodymyr Zelenskyy said Wednesday as he began a visit to the Baltic nations in search of more help for his country against the Kremlin’s larger and bettersupplied forces in the 22-monthold invasion. Speaking in the Lithuanian capital of Vilnius, Zelenskyy said Ukraine still must bolster its air defenses against Russia’s intensified missile and drone onslaughts and replenish its ammunition supplies as long-range strikes become the main feature of this winter’s fighting. “We have proven that Russia can be stopped, that deterrence is possible,” he said after talks with Lithuanian President Gitanas Nauseda on his first foreign trip of the year. T he m a ssive Ru ssi a n ba r rages—more than 500 drones and missiles were fired between December 29 and Januar y 2, according to officials in Kyiv— are using up Ukraine’s weapons stockpiles, however. The escalation is stretching Ukraine’s air defense resources and leaving the country vulnerable unless it can secure further weapons supplies. “We lack modern air defense systems badly,” Zelenskyy said, noting that they are “what we need the most.” He acknowledged, however, that stockpiles are low in countries that could provide such materiel. “Warehouses are empty. And there are many challenges to world defense,” he said. Ukraine hopes to accelerate development of its domestic defense industry and establish joint projects with foreign governments to speed up ammunition and weapons production. Ukrainian officials traveling

IN this photo provided by the Ukrainian Presidential Press Office, Lithuania’s President Gitanas Nauseda, left, and Ukrainian President Volodymyr Zelenskyy attend a welcoming ceremony in Presidential Courtyard, Vilnius, Lithuania on January 10, 2024. Volodymyr Zelenskyy is on his trip to Baltic countries that started in Lithuania. UKRAINIAN PRESIDENTIAL PRESS OFFICE VIA AP

with Zelenskyy signed several documents on cooperation on joint arms production. Similar agreements are expected in the other Baltic countries Zelenskyy is expected to visit this week. Nauseda said Lithuania will send ammunition, generators and detonation systems to Ukraine this month, and in February will provide armored personnel carriers. It has approved 200 million euros ($219 million) in support for Kyiv, he said. The focus of his two-day trip to Lithuania, Latvia and Estonia, Zelenskyy said on his official Telegram channel, will be security concerns, Ukraine’s hopes to join the European Union and Nato, and building partnerships in drone production and electronic warfare capacities. Zelenskyy thanked Lithuania for its military assistance and goodwill. He then travelled to the Estonian capital Tallinn, where he is to meet with the prime minister, the president and address the parliament and then is to go to neighboring Latvia. “We know how tiring this longrunning war is, and we are inter-

ested in Ukraine’s complete victory in it as soon as possible,” Lithuanian President Gitanas Nauseda told reporters. The small eastern European countries are among Ukraine’s staunchest political, financial and military supporters, and some in the Baltics worry that they could be Moscow’s next target. T he t h re e cou nt r ies were seized and annexed by Josef Stalin during World War II before regaining independence w ith the breakup of the Soviet Union in 1991. They joined Nato in 2004, placing themselves under the military protection of the US and its Western allies. “Democratic countries have done a lot to help Ukraine, but we need to do more together so that Ukraine wins and the aggressor loses,” Estonian President Alar Karis said in a statement. “Then there is the hope that this will remain the last military aggression in Europe, where someone wants to dictate to their neighbor with missiles, drones and cannons what political choices can be made,” he said. In his Telegram message, Zelenskyy expressed gratitude to the

Baltic countries for their “uncompromising” support of Ukraine over the past 10 years, referring to 2014 when Russia’s aggression started with the illegal annexation of Ukraine’s Crimea Peninsula. Russia’s recent escalation of missi le and drone attacks is stretching Ukraine’s air defense resources, a Ukrainian air force official said Tuesday, leaving the country vulnerable unless it can secure further weapons supplies. Zelenskyy’s energetic international diplomacy during the war has been essential to maintain pressure on friendly countries to keep supplying Kyiv with billions of dollars in weaponry, including German Leopard tanks, US Patriot missile systems and British Storm Shadow cruise missiles. That support has tailed off recently, however. A plan by the administration of US President Joe Biden to send to Kyiv billions of dollars in further aid is stuck in Congress, and Europe’s pledge in March to provide 1 million artillery shells within 12 months has fallen short, with only about 300,000 delivered so far. Meanwhile, long-range strikes by the K remlin’s forces have continued. Kharkiv, Ukraine’s second-largest city, came under attack from Russian S-300 missiles late Tuesday, said Mayor Ihor Terekhov. The Russians hit an unoccupied summer camp on the northeastern city’s outskirts, he said on Telegram. Several buildings were damaged but no casualties were reported. Ukraine also kept up its attempts to hit targets inside Russia. The Russian Defense Ministry said its air defenses downed a Ukrainian drone early Wednesday over the Saratov region of southwestern Russia, on the Volga River. Saratov Gov. Roman Busargin said the drone was downed over the Engels district, which is home to Russia’s main strategic bomber base that launched cruise missiles at Ukraine. He said there were no casualties or damage. The Associated Press writer Hanna Arhirova in Kyiv, Ukraine, contributed.

cases were on the rise in other places that haven’t been reporting, calling on governments to keep up surveillance and provide continued access to treatments and vaccines. Tedros said the JN.1 variant was now the most prominent in the world. It is an Omicron variant, so current vaccines should still provide some protection. Maria Van Kerkhove, technical lead at WHO for Covid-19, cited an increase in respiratory diseases across the globe due to the coronavirus but also flu, rhinovirus and pneumonia. “We expect those trends to continue into January through the winter months in the northern hemisphere,” she said, while

noting increases in Cov id-19 in the southern hemisphere— where it’s now summer. While bouts of coughs, sniff ling, fever and fatigue in the w inter are nothing new, Van Kerkhove said this year in particular, “we are seeing co-circulation of many different types of pathogens.” WHO officials recommend that people get vaccinated when possible, wear masks, and make sure indoor areas are well ventilated. “ T he vaccines may not stop you being infected, but the vacc i nes a re cer t a i n ly reduc i ng sig nif ic a nt ly you r c ha nce of being hospitalized or dy ing,” said Dr. Michael Ryan, head of emergencies at W HO. AP

Tanker in Gulf of Oman boarded by men in military uniforms in apparent seizure in Middle East waters By Jon Gambrell

The Associated Press

U B A I , Un ite d A r a b Emirates—An oil tanker once at the center of a crisis between Iran and the United States was boarded in the Gulf of Oman by “unauthorized” people in military uniforms early on Thursday morning, an advisory group run by the British military and a private intelligence firm warned. Details remained unclear in what was apparently the latest seizure of a vessel in the tense Middle East waterways. However, the ship was once known as the Suez Rajan and had been involved in a yearlong dispute that ultimately saw the US Justice Department seize 1 million barrels of Iranian crude oil on it. The British military’s United Kingdom Maritime Trade Operations, which provides warnings to sailors in the Middle East, said the incident began early in the morning in waters between Oman and Iran in an area transited by ships coming in and out of the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil traded passes. The UK military-run group described receiving a report from the ship’s security manager of hearing “unknown voices over the phone” alongside with the ship’s captain. It said that further efforts to contact the ship had failed. The private intelligence firm Ambrey said that “six military men” boarded the ship, which it identified as the oil tanker St. Nikolas. It said that the men had covered the surveillance cameras as they boarded. The St. Nikolas had earlier been named the Suez Rajan, associated with the Greek shipping company Empire Navigation. Attention began focusing on the Suez Rajan in February 2022, when the group United

Against Nuclear Iran said it suspected the tanker carried oil from Iran’s Khargh Island, its main oil distribution terminal in the Persian Gulf. Satellite photos and shipping data analyzed at the time by the AP supported the allegation. For months, the ship sat in the South China Sea off the northeast coast of Singapore before suddenly sailing for the Texas coast without explanation. The vessel discharged its cargo to another tanker in August, which released its oil in Houston as part of a Justice Department order. In September, Empire Navigation pleaded guilty to smuggling sanctioned Iranian crude oil and agreed to pay a $2.4 million fine over a case involving the tanker. Empire Navigation, an Athens-based firm, did not immediately respond to a request for comment. The US Navy’s 5th Fleet, which patrols the Mideast, did not immediately respond to a request for comment over the incident. Iran and Oman did not immediately acknowledge the boarding. Since the collapse of Iran’s nuclear deal, waters around the strait have seen a series of ship seizures by Iran, as well as assaults targeting shipping that the Navy has blamed on Tehran. Iran and the Navy also have had a series of tense encounters in the waterway, though recent attention has been focused on the Iranian-backed Houthi rebels of Yemen attacking ships in the Red Sea amid Israel’s war on Hamas in the Gaza Strip. The United States and its allies also have been seizing Iranian oil cargoes since 2019. That has led to a series of attacks in the Mideast attributed to the Islamic Republic, as well as ship seizures by Iranian military and paramilitary forces that threaten global shipping.

US, allies accuse Russia of using North Korean missiles against Ukraine, violating UN sanctions By Edith M. Lederer The Associated Press

NITED NATIONS—The United States, Ukraine and six allies accused Russia on Wednesday of using North Korean ballistic missiles and launchers in a series of devastating aerial attacks against Ukraine, in violation of UN sanctions. Their joint statement, issued ahead of a Security Council meeting on Ukraine, cited the

use of North Korean weapons during waves of strikes on December 30, January 2 and January 6 and said the violations increase suffering of the Ukrainian people, “support Russia’s brutal war of aggression, and undermine the global nonproliferation regime.” The eight countries—also including France, the United Kingdom, Japan, Malta, South Korea and Slovenia—accused Russia of exploiting its position as a veto-wielding permanent member of the council and warned

that “each violation makes the world a much more dangerous place.” At the council meeting, Russia’s UN Ambassador Vassily Nebenzia said the information came from US National Security Council spokesman John Kirby, but he said representatives of the Ukrainian air force “specifically said that Kyiv did not have any evidence of this fact.” Nebenzia accused Ukraine of using American and European weapons “to hit Christmas

markets, residential buildings, women, the elderly and children” in the Russian city of Belgorod near the Ukrainian border and elsewhere. UN political chief Rosemary DiCarlo told the council that Ukraine has suffered some of the worst attacks since Russia’s February 2022 invasion in recent weeks, with 69% of civilian casualties in the frontline regions of Donetsk, Kharkiv, Kherson and Zaporizhzhia. Over the recent holiday period, she said,

“Russian missiles and drones targeted numerous locations across the country,” including the capital Kyiv and the western city of Lviv. Between December 29 and January 2, the UN humanitarian office recorded 519 civilian casualties, DiCarlo said: 98 people killed and 423 injured. That includes 58 civilians killed and 158 injured on December 29 in Russian drone and missile strikes across the country, “the highest number of civilian casualties in a single day in all of 2023,” she said.

The following day, at least 24 civilians were reportedly killed and more than 100 others injured in strikes on Belgorod attributed to Ukraine, she said. Russia’s Nebenzia said a Christmas market was hit. “We unequivocally condemn all attacks against civilians and civilian infrastructure, wherever they occur and whoever carries them out,” DiCarlo said. “Such actions violate international humanitarian law and must cease immediately.”

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UN Security Council demands halt to Houthi rebels’ Red Sea attacks in vote implicitly condemning Iran By Edith M. Lederer

The Associated Press

NITED NATIONS—The UN Security Council demanded an immediate halt to attacks by Yemen’s Houthi rebels on ships in the Red Sea in a resolution adopted Wednesday that implicitly condemned their main weapons supplier—Iran.

The resolution, sponsored by the United States and Japan, was approved by a vote of 11-0 with four abstentions – Russia, China, Algeria and Mozambique. It condemns “in the strongest terms” at least two-dozen attacks carried out by the Houthis on merchant and commercial vessels, which the resolution says are impeding global commerce and undermining navigational freedom. The Iranian-backed Houthis, who have been engaged in a civil war with Yemen’s internationally recognized government since 2014, have said they launched the attacks with the aim of ending Israel’s devastating air-and-ground offensive in the Gaza Strip. A US-led coalition of nations has been patrolling the Red Sea to try to prevent the attacks. In the past day, the Houthis fired their largest-ever barrage of drones and missiles targeting shipping in the Red Sea, which the US and British

navies shot down in a major naval engagement. Last week, the US and 12 other countries issued a statement calling for the immediate end of Houthi attacks and warning that further attacks would require collective action. “The Houthis will bear the responsibility of the consequences should they continue to threaten lives, the global economy, and free f low of commerce in the region’s critical waterways,” they said. US Ambassador Linda Thomas-Greenfield told the council Wednesday: “If the Houthi attacks continue, there will be consequences.” She said the United States knows Iran is involved in planning Houthi attacks, and while it isn’t seeking a confrontation with Tehran, “Iran also has a choice: to continue providing or withhold its support for the Houthis, without which the Houthis would struggle

IN this photo provided by the United Kingdom Ministry of Defence on Wednesday, January 10, 2024, taken from the bridge of HMS Diamond, Sea Viper missiles are fired in the Red Sea. Yemen’s Houthi rebels have fired their largest-ever barrage of drones and missiles targeting shipping in the Red Sea, forcing the United States and British navies to shoot down the projectiles in a major naval engagement. UK MINISTRY OF DEFENCE VIA AP

to effectively track and strike vessels through the Red Sea and Gulf of Aden.” Immediately before the vote, the council overwhelmingly rejected three proposed Russian amendments. At least nine “yes” votes and no veto are needed in the 15-member Security Council for approval of an amendment or a resolution. Two of the proposed amendments got just four “yes” votes and one got five. The United States and United Kingdom both voted against all three amendments, but their vetoes didn’t count because the amendments failed to get the minimum nine “yes” votes. Russian Ambassador Vassily Nebenzia said Moscow condemned the attacks on civilian vessels but called the resolution “politicized,”

saying Moscow believes the real aim of the coalition “cobbled together” by the US and its allies ostensibly to ensure security is really to legitimize its actions and get an open-ended blessing from the Security Council for future activities. T he defeated amendments said the resolution would not set a precedent, and would have replaced a provision taking note “of the right of member states, in accordance with international law, to defend their vessels from attacks, including those that undermine navigational rights and freedoms.” A third amendment would have added language to reflect that “the escalation in the Gaza is a main root cause of the current situation in the Red Sea,” Nebenzia said.

Top UN court opens hearings on South Africa’s claim that Israel is committing genocide in Gaza By Mike Corder

The Associated Press

HE HAGUE, Netherlands— The United Nations’ top court opens hearings Thursday into South Africa’s allegation that Israel’s war with Hamas amounts to genocide against Palestinians, a claim that Israel strongly denies. South Africa is initially asking the International Court of Justice to order an immediate suspension of Israel’s military offensive in the Gaza Strip as part of a case that is likely to take years to resolve. The dispute strikes at the heart of Israel’s national identity as a Jewish state created in the aftermath of the Nazi genocide in the Holocaust. It also involves South Africa’s identity: Its governing party, the African National Congress, has long compared Israel’s policies in Gaza and the West Bank to its own history under the apartheid regime of white minority rule, which restricted most Blacks to “homelands” before ending in 1994. Although it normally considers UN and international tribunals unfair and biased, Israel has sent a strong legal team to defend its military operation launched in the aftermath of the October 7 attacks by Hamas. “I think they have come because they want to be exonerated and think they can successfully resist the accusation of genocide,” said Juliette McIntyre, an expert on international law at the University of South Australia. In a statement after the case was filed late last year, the Palestinian Authority’s foreign ministry urged

the court to “immediately take action to protect the Palestinian people and call on Israel, the occupying power, to halt its onslaught against the Palestinian people, in order to ensure an objective legal resolution.” Two days of preliminary hearings will begin with lawyers for South Africa explaining why the country has accused Israel of “acts and omissions” that are “genocidal in character” in the Gaza war and why it is calling for the court to issue an interim order for an immediate halt to Israel’s military actions. A decision will likely take weeks. Israel’s offensive has killed more than 23,200 Palestinians in Gaza, according to the Health Ministry in Hamas-run Gaza. About twothirds of the dead are women and children, health officials say. The death toll does not distinguish between combatants and civilians. In the October 7 attack, in which Hamas fighters stormed through several communities in Israel and killed some 1,200 people, mainly civilians. They abducted around 250 others, nearly half of whom have been released. US Secretary of State Antony Blinken dismissed the case as “meritless” during a visit to Tel Aviv on Tuesday. “It is particularly galling, given that those who are attacking Israel—Hamas, Hezbollah, the Houthis, as well as their supporter Iran—continue to call for the annihilation of Israel and the mass murder of Jews,” he said. The world court, which rules on disputes between nations, has never judged a country to be responsible for genocide. The

closest it came was in 2007 when it ruled that Serbia “violated the obligation to prevent genocide” in the July 1995 massacre by Bosnian Serb forces of more than 8,000 Muslim men and boys in the Bosnian enclave of Srebrenica. South Africa “will have a hard time getting over the threshold” of proving genocide, McIntyre said. “It’s not simply a matter of killing enormous numbers of people,” she said in an email to The Associated Press. “There must be an intent to destroy a group of people (classified by race or religion for example) in whole or in part, in a particular place.” In a detailed, 84-page document launching the case, South Africa argued Israel has demonstrated that intent. Israel responded by insisting it operates according to international law and focuses its military actions solely against Hamas. It said that the residents of Gaza are not an enemy and that it takes steps to minimize harm to civilians and to allow humanitarian aid to enter the territory. An Israeli Foreign Ministry statement called South Africa’s case a “despicable and contemptuous exploitation” of the court. The case revolves around the genocide convention that was drawn up in 1948 in the aftermath of World War II and the murder of 6 million Jews in the Holocaust. Both Israel and South Africa are signatories. In its written filing, South Africa says it wants the court “to establish Israel’s responsibility for violations of the Genocide Convention; to hold it fully accountable under international

law for those violations” and to “ensure the urgent and fullest possible protection for Palestinians in Gaza who remain at grave and immediate risk of continuing and further acts of genocide.” A team of lawyers representing South Africa will present three hours of arguments in the court’s wood-paneled Great Hall of Justice. Israel’s legal team will have three hours Friday morning to answer the allegations. Among South Africa’s delegation will be former British opposition leader Jeremy Corbyn, whose leadership of the left-of-center Labour Party was stained by allegations of antisemitism. He is a longtime supporter of the Palestinian cause and a fierce critic of Israel. Human Rights Watch said the hearings will provide scrutiny of Israel’s actions. “South Africa’s genocide case unlocks a legal process at the world’s highest court to credibly examine Israel’s conduct in Gaza in the hopes of curtailing further suffering,” said Balkees Jarrah, the group’s associate international justice director. The U.N. court, headquartered in the ornate Peace Palace in a leafy suburb of The Hague, deals with disputes between nations. The International Criminal Court, based a few miles (kilometers) away in the same Dutch city, prosecutes individuals for war crimes, crimes against humanity and genocide. Israel is back on the International Court of Justice’s docket next month, when hearings open into a UN request for a non-binding advisory opinion on the legality of Israeli policies in the West Bank and east Jerusalem.

Thomas-Greenfield accused Russia of proposing the amendments “in bad faith at the last minute,” telling the council they were “divorced from reality.” “The Houthis are simply intoxicated with power,” she said. The proposed amendment “falsely” citing the conflict in Gaza as the cause of the rebel attacks would only further embolden the Houthis and establish “a dangerous precedent for the council to legitimize these violations of international law,” she said. “The Houthis are targeting a range of vessels, few of which are owned or operated by Israelis,” Thomas-Greenfield said. “And so, what is at issue here is not any particular conflict, but rather the simple principle of upholding freedom of navigation and a waterway vital to the free flow of global commerce.” The resolution also demands the immediate release of the first ship the Houthis attacked, the Galaxy Leader, a Japanese-operated cargo ship with links to an Israeli company that it seized on November 19 along with its crew. The Red Sea links the Mideast and Asia to Europe via the Suez Canal, and its narrow Bab el-Mandeb Strait. Nearly 10 percent of all oil trade and an estimated $1 trillion in goods pass through the strait annually. But the Houthi attacks have forced many shipping companies to bypass this route and use the much longer and more expensive route around the Cape of Good Hope in Africa. The resolution affirms that “the exercise of navigational rights

and freedoms by merchant and commercial vessels, in accordance with international law, must be respected.” Thomas-Greenfield lashed out at Iran for supplying advanced weapons systems to the Houthis in violation of UN sanctions including drones, land attack cruise missiles, and ballistic missiles, which she said have all been used in attacks on vessels. Wit hout naming Iran, t he resolution condemns all arms dealings with the rebels, which violate Security Council sanctions and calls for “additional practical cooperation to prevent the Houthis from acquiring the materiel necessary to carry out further attacks.” Russia and others have warned that adoption of the resolution could impact a tentative ceasefire between the Houthis and a Saudi-led coalition fighting on behalf of Yemen’s exiled government that has held for months despite that country’s long war. And there is growing concern that any wider conflict in the sea—or a potential reprisal strike from Western forces—could reignite those tensions in the Arab world’s poorest nation. The resolution recognizes the need to avoid escalating the situation. It “urges caution and restraint to avoid further escalation of the situation in the Red Sea and the broader region.” And it “encourages enhanced diplomatic efforts by all parties to that end, including continued support for dialogue and Yemen’s peace process under the UN auspices.”

Veteran diplomat from Laos, the new Asean special envoy for Myanmar, embarks on inaugural mission By Grant Peck

The Associated Press

ANGKOK — A veteran Laotian diplomat recently appointed the Association of Southeast Asian Nations ‘special envoy to Myanmar arrived Wednesday on his first mission to the strife-torn nation, meeting with the head of the ruling military council and other top officials, state television MRTV reported. Diplomat Alounkeo Kittikhoun faces the tough challenge of promoting the regional group’s peace plan for Myanmar to quell the violence between the military government, which seized power from the elected government of Aung San Suu Kyi in February 2021, and an armed pro-democracy resistance movement that is assisted by ethnic minority fighting forces. Almost 2 million people have been displaced by years of fighting in Myanmar, according to the UN, and the 10-member Asean regional grouping is concerned that the destabilization could have regional consequences, including generating large numbers of refugees. Neither the military government nor its pro-democracy government foes have shown any inclination to compromise. Alounkeo’s visit comes just ahead of a meeting of Asean foreign ministers scheduled for January 28-29 in Luang Prabang, the old capital of Laos. It is the turn this year of Laos to act as chair of the bloc, which includes Myanmar. Asean has been seeking to implement a five-point consensus it reached on Myanmar just a few months after the army’s takeover. It called for the immediate cessation of violence, a dialogue among all concerned parties, mediation by an Asean special envoy, provision of humanitarian aid through Asean channels, and a visit to Myanmar by the special envoy to meet all concerned parties. MRT V repor ted that Alounkeo’s meetings included discussions about the implementation of the five-point consensus, the militar y government’s effor ts at providing humanitarian assistance and plans

for the military’s promised election. Bilateral relations and Laos’ role as Asean chair were also discussed, it said. Myanmar’s military government initially agreed to the consensus but has since made little effort to implement it, even as the country has slipped into a situation that U.N. experts have characterized as a civil war. Its stonewalling led fellow Asean members to block key leaders of the military government from attending major meetings of the regional grouping. Indonesia, Singapore and Malaysia, all electoral democracies, are known to have taken a strong stand against any engagement that could be perceived as favoring the Myanmar’s generals’ claims to be the country’s legitimate leaders. Authoritarian nations such as Vietnam, Cambodia and Laos are less critical of the ruling generals, as is Thailand, whose military retains strong influence over security matters. Some members of the Nationwide Ceasefire Agreement — Signatories, Ethnic Armed Organizations, a group established nine years ago to pursue ways of ending decades of armed conflict with the military, also held a meeting with Alounkeo. MRTV reported they also discussed the five-point consensus and humanitarian assistance. However, since none of the seven groups that attended are currently at war with the military, the relevance of their participation for peacemaking appeared to be minimal. It was not immediately known if Alounkeo would meet with Suu Kyi, who was arrested when the military seized power. The 78-yearold Suu Kyi is now serving a 27-year prison term in Naypyitaw after being convicted in a series of politically tinged prosecutions brought by the military. The military government has refused to allow her to meet with any previous Asean special envoys, who came in turn from Brunei, Cambodia and Indonesia. Alounkeo, 72, is a former minister in Laos’ prime minister’s office and has also served as his country’s ambassador at the United Nations.

A12 Friday, January 12, 2024 • Editor: Angel R. Calso

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Recognizing LGUs’ efforts in cleanliness programs

resident Marcos last week called on local government units (LGUs) to participate in the nationwide cleanup drive dubbed the “Kalinisan sa Bagong Pilipinas” Program, which was launched on January 6 in observance of the National Community Development Day. In a video message posted on the Presidential Communications Office’s official Facebook page, the President said: “Let our barangays be the laboratory of workable ideas, a showcase of what we can achieve together, and proof that the basic government unit, the barangay, teems with best practices. Let us start with order and cleanliness. Filipinos do not deserve dirty, dingy, or dark communities. So let’s act to make our environment comfortable and clean. There should be no place, no space for dirt, dust, and darkness in our community.” Cleanliness is an essential aspect of maintaining a healthy and livable environment. As the fundamental unit of governance, barangays can serve as shining examples of clean, healthy, and sustainable communities for the rest of the country to emulate. That’s because a clean barangay fosters a sense of community pride and identity. When residents take responsibility for maintaining cleanliness in their surroundings, it creates a positive environment that encourages civic engagement and cooperation. Clean streets, parks, and public spaces promote a sense of ownership and inspire residents to take pride in their barangay. To motivate LGUs to undertake cleanliness programs at the local level, the Department of the Interior and Local Government (DILG) will soon give quarterly awards to the cleanest barangays. DILG Secretary Benjamin “Benhur” Abalos said this is in line with the President’s directive to incentivize LGUs maintaining cleanliness in their areas. (Read the BusinessMirror report, “DILG to award cleanest barangays under Kalinisan project—Abalos,” January 9, 2024). The DILG chief made the announcement at the launch of the “Kalinga at Inisyatiba para sa Malinis na Bayan” (Kalinisan) Project at Baseco Compound in Manila over the weekend. He said the DILG is now formulating a recognition system covering over 42,000 barangays in the country on a monthly basis. “We will monitor the performance of each barangay on a monthly basis. We will have an awarding every quarter,” he said. Abalos also urged local governments to invest in programs, projects, and activities on solid waste management and ecological practices. “This should go beyond today. We should do this every day in our barangays. Cleanliness should be a way of life,” he said. Maintaining cleanliness in barangays requires the collaborative efforts of residents, barangay officials, and local government units. Effective governance plays a vital role in implementing and enforcing cleanliness policies, such as regular garbage collection schedules, waste segregation guidelines, and penalties for violations. Barangay officials should lead by example, actively participate in cleanliness initiatives, and ensure the availability of resources for waste management and sanitation infrastructure. Building partnerships with relevant stakeholders, including waste management agencies and non-governmental organizations, can also enhance the barangay’s capacity to maintain cleanliness. Education and awareness campaigns also play a crucial role in maintaining cleanliness in barangays. Local government units, in collaboration with community organizations and schools, can conduct outreach programs to educate residents about the importance of cleanliness. These initiatives can focus on waste management, proper sanitation practices, and the ecological impact of individual actions. By raising awareness and providing the necessary knowledge and tools, residents can make informed decisions and actively contribute to maintaining cleanliness and sustainability. Fortunately, the DILG is not alone leading this nationwide clean up activity. Other agencies backstopping its efforts include the Presidential Communications Office, the Department of Labor and Employment, Department of Environment and Natural Resources, Department of Social Welfare and Development, Department of Health, Department of Tourism, Department of Agriculture, Commission on Higher Education, Metropolitan Manila Development Authority, and Technical Education and Skills Development Authority. A nationwide cleanup drive has no chance to fail when government agencies and barangay residents work together in harmony. The collaboration between government agencies and these citizen-driven initiatives enhances the effectiveness and reach of nationwide cleanup drives. By combining the efforts of these two stakeholders, we can usher in a cleaner and more sustainable future not only for our barangays but also for the whole country.

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2023 in review: Sowing the seeds for a more progressive Philippines Sonny M. Angara

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ooking back at 2023, we could say that the Senate and Congress as a whole had a very productive year in terms of fulfilling its mandate of crafting meaningful laws for the benefit of our people and the country. Congress had a strong working relationship with the executive branch. We were able to come up with a common legislative agenda that took into account the priorities of the Marcos administration and the advocacies of the different legislators. At the top of the list is the 2024 General Appropriations Act, the P5.768 trillion spending measure that aligns with the targets of the administration under the Philippine Development Plan 2023-2028 and is consistent with its goal to secure a future proof and sustainable economy. As the chairman of the Senate’s committee on finance, we worked to refo-

Good Morning towel as an icon of the Traslacion of the Black Nazarene Dennis Gorecho

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cus government spending from one that was predominantly for health to other sectors such as education and infrastructure. This does not mean that we are neglecting investments for our health system because the 2024 budget contains funding that will prepare the country for future challenges, as well as to provide our people with greater access to qual-

ity health care wherever they are situated. In line with this, Republic Act 11959 or the Regional Specialty Centers Act was enacted in August of 2023 so that Filipinos would no longer have to travel long distances in order to get the specialized care that they require. Under the law of which I am an author, the Department of Health is designated to establish specialty centers in its hospitals in every region and in GOCC specialty hospitals, prioritizing cancer care, cardiovascular care, lung care, renal care and kidney transplant, brain and spine care, trauma care and burn care. The sad reality is that almost all the specialty centers are situated in Metro Manila and other highly urbanized centers and this has resulted in the situation where many ailing Filipinos opt to just skip seeking medical care even if it means finding a cure or getting a better quality of life. To encourage the entry of more investments into the country, Congress

he throwing of a Good Morning towel (GMT) with the Black Nazarene imprint is a familiar scene during the annual procession in Manila called Traslacion. Devotees believe that wiping the image with the towels will get them closer to achieving their prayers. Traslación, which in Spanish means “passage” or “moving something from one place to another,” is held every 9th of January as a reenactment of the “solemn transfer” from Intramuros to Quiapo Church of the Black Nazarene’s replica, which was brought to the Philippines in 1606. It depicts Jesus en route to his crucifixion. In 1608, the statue was enshrined at the Recollect Church of San Nicolás de Tolentino in Intramuros. It was moved to the Saint John the Baptist Church (now known as the Quiapo Church) on January 9, 1787. When the carriage called “andas” passes by, many devotees throw their towels or handkerchiefs towards the statue. The Hijos del Nazareno, the honor guard around the image, wipe them on the andas and then throw them back to their owners.

The towels are usually sold from P20 to P30. I am not sure how those towels return to their rightful owners, who hope they can bring home blessings. A popular symbol of the working class, the lightweight and ultra-absorbent GMT is usually draped over the shoulders of jeepney drivers, barkers and street vendors. GMTs are simple white terry cloth towels with a bright red “Good Morning” greeting in Chinese characters that say “Zhu jun zao an” that roughly translates to “Wish you early morning,” essentially a formal “Good morning” greeting. GMTs were originally produced for the Hong Kong market in the late 19th century, and were used widely in teashops and noodle houses. The English greeting was added to appeal to the British expatriates who were then living in the colony.

I was able to personally witness this year for the first time the Traslacion that lasted almost 15 hours after it started at around 5:00 a.m. from Quirino Grandstand. The procession then passed through the narrow streets of Manila’s San Miguel and Quiapo districts before ending at the Minor Basilica and National Shrine of Jesus Nazareno at around 7:45 p.m. A feature of traslacion is the “Dungaw” or “La Mirata” ritual, which is the historic practice of the San Sebastian and Quiapo churches, the Black Nazarene meets the image of Nuestra Señora del Carmen de San Sebastian. The 2012 Traslación was the longest in recorded history as it ended 22 hours after leaving the Quirino Grandstand. The Black Nazarene arrived at Plaza Miranda around 5:00 a.m. the next day. From 2021 to 2023, the traditional Traslación was cancelled due to the Covid-19 pandemic. Filipino Catholics are known for having sincere, enormous, and extreme expressions of piety considering that the country has the third-largest Catholic population in the world. The fervent devotion and faith shown by devotees became a prime manifestation of the fusion of Catholic and secular beliefs and practices of Filipinos. Many devotees join the proces-

also approved the Public-Private Partnership (PPP) Code of the Philippines. Now Republic Act 11966, the PPP Code addresses the needs and qualms of potential investors by providing a clear and standard legal framework and rules to guide them every step of the way. For investors, one of the most important factors in choosing where to place their funds is stability and predictability and this was a key consideration when we crafted the law as its principal author. With this new law, we hope to expedite the development of key infrastructure projects that will be of the highest standards for the benefit of our people and to further expand the growth of our economy. We are also an author of Republic Act 11965 or the Caregivers’ Welfare Act, which will guarantee our hardworking caregivers benefits and rights similar to those provided to other employees and give them protection from abuse from their employers; Republic Act 11962 or See “Angara,” A13

sions as part of their “panata” (vow), which is usually carried out as a plea to God or as thanksgiving for healing, blessing, or granting of/granted wish. The statue is believed to have magical and healing powers that can heal illnesses and grant miracles. Described as a pandemonium, large crowds donned in predominantly maroon and yellow shirts forcefully gather towards the andas as it crawled through the generally narrow roads of the city. Aside from waving and wiping of towels, the devotees believe that walking barefoot, holding and pulling the ropes of the andas, and even climbing the carriage, will get them closer to achieving their prayers. Through the use of physical force in aggressively pulling the ropes or carrying the ándas, there is a preference for doing so on the right shoulder (Kanang Balikat) because the image of the Black Nazarene bears the cross on his right side. It is a symbolic gesture that emulates Christ’s suffering while carrying the cross to Golgotha. I remember my father attending the annual Traslacion until he stopped when he was diagnosed with diabetes. It will be dangerous for him to walk barefooted like the other devotees due to the possibility See “Gorecho,” A13

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Friday, January 12, 2024 A13

The secretive French agency blindsiding global investors

Collecting feathers in January

‘C

Tito Genova Valiente

annotations

By Ania Nussbaum & William Horobin

hoose France,” President Emmanuel Macron tells the investors he gathers each year to the Palace of Versailles. So last year Flowserve Corp. was surprised to find its investment plans blocked by the French state itself.

The Texas-based company, which makes parts for industrial machinery, was trying to buy a Canadian group with an offshoot in France while Macron—a former investment banker—is redoubling efforts to attract foreign capital and spur an industrial renaissance. But watching over the negotiations was a secretive government agency that’s become more and more active about frustrating business deals in the name of national security. While the US company was still working on its acquisition, the agency known by its French acronym Sisse quietly sprung into action. It recommended the state seek out alternative, local buyers for the factories that make equipment used in submarines and nuclear reactors. Later, Finance Minister Bruno Le Maire blocked the takeover on grounds that transferring ownership from one North American-owned company to another was too great a risk to French economic sovereignty. The intervention, first reported by Bloomberg News, has shed light on the opaque workings of Sisse, which has power to advise either that the French government waves through takeovers—or that it kills them. Cloistered in an outer wing of France’s sprawling Treasury, Sisse’s officials have seen a sustained increase in their workload in recent years as they pursue a remit to “detect, categorize and handle” any perceived threat to the country’s strategic assets. Their mission takes inspiration from the mechanisms others like the US use to protect their economic interests—but it also works against them, exacerbating a climate of economic protectionism that has spurred countries to trade with a closer eye on geopolitics. France has long sought to exercise its protectionist muscles, annoying competitors and even its more liberal EU allies with policies designed to put French interests first. After both Covid and Russia’s war in Ukraine caused a rethink of supply chains across the western world, those impulses found an opportunity. Three years ago Le Maire rebuffed a $20 billion takeover bid from another Canadian company, Alimentation Couche-Tard Inc., that was proposing to buy supermarket chain Carrefour SA, citing food security issues that became paramount during the pandemic. At the same time, France watched its European neighbors shift their energy mix away from the Russian sources on which they used so heavily to rely. Sisse’s intervention into the Flowserve deal shows these concerns at work, as the country races to repair its ageing nuclear power plants with new parts. Yet the agency’s domain is even wider, spanning sectors like transport, biotechnology, artificial intelligence and defense, according to people familiar with its operations, who asked not to be named because Sisse doesn’t make its activities public. Most of the threats the agency considers stem from the US and China, they said. The pandemic was a turning point for France’s economy in another way: As valuations tumbled after the economy went into lockdown, foreign investors with deep pockets began to eye struggling French firms. Macron responded with a temporary toughening of rules to screen investments, which has since been made permanent. When he was reelected in 2022, the president underscored the shift in priorities by changing his finance minister’s responsibilities to add “industrial and digital sovereignty.”

Although Le Maire’s future is uncertain while Macron reshuffles his team ahead of European elections, there’s no indication that the job description of his successor will change—and he may very well keep his job. The Treasury’s heightened vigilance sits uneasily with regular boasts from the government that Macron has turned France into a hotbed for inward investment, propelling it past Germany and the UK to top rankings for attracting projects financed by foreigners. But for watchful French officials, their companies’ popularity with investors has risks. The number of dossiers Sisse reviews has almost tripled in as many years. Interest rates that rose through much of last year have weakened indebted companies, making them less likely to seek traditional bank financing and pushing them “instead to look for equity, potentially relying more on foreign investors,” according to Sarah Guillou, economist at the OFCE think tank. Many officials in Paris, including Le Maire, say the broader challenge is that Europe is becoming a collateral victim of the race for technological advantage between the US and China. “Global geopolitics has become tougher,” Sisse’s chief Joffrey Celestin-Urbain told Bloomberg News. “These macroeconomic tensions give rise to microeconomic alerts.” In that climate, his agency has become the first clearinghouse for many foreign investors into France—whether they know it or not. Sisse can flag acquisition attempts it thinks pose a high risk of being scuppered were they to advance to a more formal screening process in which the finance minister acts as arbiter. That makes its principal weapon dissuasion. Any company that doesn’t follow Sisse’s guidelines is at greater risk of disappointment further down the line. Flowserve ultimately gave up on the entire plan of acquiring Velan, whose French businesses represented just a quarter of a deal worth almost $250 million. Flowserve declined to comment on Sisse’s role in the prelude to the minister’s blocking its acquisition attempt. Velan didn’t return a request for comment. A person familiar with the French government’s thinking said any foreign investor would be subjected to the same level of screening. Paris authorities are not aware of another plan to sell the units. In order to stand a chance on sensitive acquisitions, foreign firms are increasingly approaching Sisse themselves, according to people familiar with its workings, as they look to shape deals in hope of subsequent approvals. Firms or individuals are now filing thousands of reports every year on a confidential basis, and Celestin-Urbain says his team responds to each one individually. In the case of an unwanted takeover or investment, Sisse’s direct tools are limited. It is often a case of looking for alternative French buyers, like the state-backed Fonds France Nucleaire or Bpifrance, or setting conditions on any financing from the French state. Still, “we aren’t the Tinder for funding French strategic companies,” Celestin-Urbain said on the social-media platform X. As well as reviewing sensitive investments and acquisitions, the Sisse agents—who number close to 50— have a responsibility for monitoring legal actions in France and abroad, and keeping an eye out for potential academic espionage, wherein fake PhD students join university programs to gain access to sensitive research. Bloomberg

have forgotten that long-sized white envelope. It was tucked between framed photos of my brother when he was last here on vacation. An old brown canister the purpose of which evaded me supported the frame and hid the envelope. Unless you were looking for it, you would not see it easily. After a year or two, who remembers envelopes? With no address written on it, and no label to mark its importance, it is the kind of thing one throws away, or dumps with other unnecessary objects from a wide shelf. But it is January. And yesterday, Tuesday, as I cleaned the medallions and dusted off the novenas gathered through years of devotion by my parents, I saw the envelope. I recognized what it was not, a bearer of letters. It was an envelope of feathers. The only guide to the contents of that envelope was the essay I wrote about feathers that floated into my apartment. Technically, I did not see them float; I saw them on the floor already. But I presumed given their lightness, they must have floated in. But where I saw them, near the door to the kitchen, made their presence improbable: that door was always shut closed. It was the first week of December of 2021. The height of lockdown. The essay gained quite a traction; the social condition was the incubation for emotional/spiritual responses. When the feedback came, they ranged from the amusing and witty to the ponderous and sacrilegious, this given how I raised the possibility that they could be notes from Angels. It was December and, because of the pandemic, we were on the verge of losing another Christmas. It has been three years from those dark, sad, hopeless years. Presently, I find it hard to breathe when I am forced by anxiety or fear to wear a mask in a crowded public. No prac-

Angara . . .

continued from A12

the Trabaho Para sa Bayan Act that will help improve the employability of Filipinos through upskilling and reskilling and open up more employment opportunities for them. Republic Act 11958 or the Rationalization of the Disability Pension of Veterans, on the other hand, will increase the disability pension of military veterans and their dependents. We are a co-author and co-sponsor of this measure that is long overdue and is a fitting gesture of gratitude to our valiant soldiers who constantly put their lives on the line to protect our nation. For our farmer-beneficiaries of the agrarian reform program, we co-authored Republic Act 11953 or the New Agrarian Emancipation Act, which as the title implies, will pave the way for the elimination of the debts they incurred from the farm land awarded to them, including interests, penalties and surcharges. Another bill that has moved its way up the legislative mill and

Gorecho . . .

continued from A12

of wounds. Although I just wanted to be a bystander watching the Traslacion, I was accidentally pushed at a certain point to the “simulated choreographed craze” known as “agos,” which translates to “waves” or the sea of devotees where one is forced to go with the direction of the crowd. I sometimes jokingly link the Traslacion with the Univer-

tice, as we would say. I did not lose the envelope in those three years. The feathers were still there. Of different colors and sizes. One was more than two inches in length. Was there a bird bigger than the ordinary maya that flew around the area? This was possible: with people mostly inside their homes, the skies were freer. The flights of planes had stopped and only those with natural wings did not care about affliction. I still remember what one reader sent to me after reading my annotations: “feathers of some unimaginable bird/that loves us,/that is asleep now, and silent.” This was Mary Oliver’s. “It wasn’t a bird,” was the glaring certainty in my sister Ebit’s message. I admired her candor, because the next moment she was telling me of angels. Why Angels? And why not Angels. If those feathers happened before the lockdown, before we experienced how cities began to assume easily there were gates around them and long before we saw how lands could have boundaries, would I write about feathers straying into my home? Would I be bothered by what I called apparition? And more than the silliness that this enterprise about finding feathers and locating meanings in those discoveries could engender, would feathers fall from unseen heaven just to teach me hope? I had to search the Internet not for reference but to recover some groundings and this was what I saw, the closing paragraph to my Decemone that is of special importance to me is the proposed Tatak Pinoy Act. Both Houses of Congress have approved the measure and we expect this to be transmitted to President Ferdinand Marcos Jr. for signing soon. Tatak Pinoy is about enhancing the capabilities of our industries and our workforce to help them become globally competitive, generate higher paying jobs, and as an end result of all this, grow our economy and bring it to the ranks of the world’s most dynamic and strongest nations. We keenly look forward to doing more in 2024 and rest assured, we will continue to come up with more initiatives that will support the development agenda of the administration and improve the standing of our nation and its people. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara Senator Sonny Angara has been in public service for 19 years—9 years as Representative of the Lone District of Aurora, and 10 as Senator. He has authored, co-authored, and sponsored more than 330 laws. He is currently serving his second term in the Senate.

sity Athletic Association of the Philippines (UAAP) as the color maroon is associated with the Traslacion and the University of the Philippines (UP). In fact, I wore a UP maroon shirt and a UP Fight headband during the Traslacion. Viva Senior Jesus Nazareno! Peyups is the moniker of University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 09175025808 or 0908-8665786.

ber 2021 Annotations: “or these feathers could be a boon to give us humans when sadness and isolation that are seemingly wider and more pervasive than the sky above and greatly more earthshaking than the quakes yet to be born from the ground have become too much for us. The world need not be rational, rationality being overrated. It could be like love, tender but unrated, buried at times somewhere and floating up, a feather without the motion of flying but nevertheless able to carry one’s heart up to a place where happiness and consolation—ephemeral, imperfect—promise a break, a tentative respite, from this deep valley of tears.” Looking at the feathers, I began to think if there were meanings in them. Divorced now from the relationships threatened by the virus and death, I asked if there was sense in treating these feathers as artifacts of despair. Which is really the obverse of hope. Was I overthinking the quotidian, the ordinary? When people were dying around you and when kin would not even inform you of a loved one’s passing, even a feather assumed magnanim-

ity. It spoke to you. It assured you. A bird being the most plausible source of the feather did not solve the transcendence present in a feather. Then a supernatural explanation became the most natural way to understand the mystery of an object. If death had lost its naturalness and had become a death sentence for a humanity that had made, it appeared then, all the wrong moves, anything, anything at all, could explain why the world was stopping big movements, and offering the true wisdom of that age: stay at home; refrain from breathing; be afraid. There was only one sign of new life. And these were the feathers that appeared from nowhere. Thus began my collection. And three years later, I was looking at them, still searching for their meaning. A tender doubt had crept in this time as I appraised them, but guilt made me recover my faith in those objects quickly, after all, when joys were suspended and fear was a surplus, these light, mindless, vague parts of flight taught me not about death but life in the lightness of its existence. E-mail: titovaliente@yahoo.com

Xi calls for stable US relations as Taiwan election tests ties By Bloomberg News

i Jinping said China wants to work with the US to improve ties between the world’s biggest economies—remarks that emerged just days before an election in Taiwan that could impact the relationship between the two countries for years to come. “China is willing to work with the US to promote the stable, healthy and sustainable development of China-US relations,” Xi said in a January 4 letter detailed by the Foreign Ministry on Wednesday. China’s leader also said Beijing and Washington should “seek more benefits for their two peoples, provide more public goods to the international community” and strive for “security, common prosperity and openness,” according to the statement. The comments emerged amid a flurry of diplomatic activity between China and the US, the most concrete sign of progress since Xi and President Joe Biden late last year agreed to repair a relationship that was in free fall for much of 2023. Defense officials from the US and China resumed policy coordination talks at the Pentagon this week—a breakthrough Biden administration officials had long sought. And on Wednesday, US Deputy National Security Advisor Jon Finer met with Liu Jianchao, head of the International Liaison Department of the Chinese Communist Party, for “candid and constructive discussions,” according to the White House. Liu has also used his US trip to meet with Bridgewater Associates founder Ray Dalio and, separately, former Treasury Secretaries Robert Rubin and Timothy Geithner, talks that focused on promoting trust and reducing suspicions between the two rival nations. Also, on Tuesday People’s Bank of Chi-

na Governor Pan Gongsheng sat down with former Treasury Secretary Lawrence Summers on Wednesday in China. While the various talks represent a big turnaround from early 2023, all that diplomatic goodwill could be put to the test this weekend, when voters in Taiwan head to the polls to choose a new president. China has vowed to bring the island of 23 million people under its control eventually, refusing to rule out the use of force if necessary. Biden has said the US would defend Taiwan in case of attack. Depending on who wins the election, Taiwan could either develop closer ties with China or move nearer to Washington. The Financial Times said that Biden will send a bipartisan group of former top officials to Taiwan following the voting. The US has made similar moves in the past, but the decision is still likely to irk Beijing. For now, the two sides seem to be trying to ensure that the relationship isn’t undermined by the Taiwan election or the myriad other issues—including access to critical technology, Beijing’s claims in the South China Sea and human rights disputes—that have plagued ties for years. On Tuesday, Xie Feng, Beijing’s top envoy in Washington, sought to straddle the divide between US-China differences over Taiwan and the broader relationship. In a video speech to The Carter Center’s Forum on Human Rights, he said China “simply has no room for compromise” on Taiwan, yet he tempered his remarks by listing positive developments between the two superpowers. “The broadest consensus is that we should make the China-US relationship work, not mess it up, which is also a shared expectation of the international community,” Xie said. With assistance from Jing Li/Bloomberg

A14 Friday, January 12, 2024

AFTER 2ND PANAY BLACKOUT, SOLONS SEEK ACCOUNTABILITY

OLONS demand citing substantial financial losses, members of the House of Representatives on Thursday demanded accountability from the Department of Energy (DOE) and the Energy Regulatory Commission (ERC) on the persistent power issues on Panay Island. During the House Committee on Energy hearing, Iloilo Rep. Lorenz Defensor expressed his frustration, labeling the recent blackout in Panay Island in the first week of 2024 as the second “major blackout” in their region. He cited the substantial financial losses, the “significant risk” to the healthcare system, and other adverse effects caused by the power outage. “We are fed up with the fingerpointing of our energy stakeholders. I can’t believe that for almost a year, no resolution has come from the government agencies that are supposed to oversee the energy industry,” he said. This January incident marked the second major power interruption since April 2023. Defensor also pressed for updates on the independent investigation by ERC, DOE, and Philippine Electricity Market Corporation (PEMC) regarding the April incident. “Have you issued a notice of violation? Have you imposed penalties?” he asked.

He insisted that the final committee report should hold someone accountable and impose penalties for the repeated occurrences in the province. At the hearing, National Grid Corporation of the Philippines (NGCP) President Anthony Almeda said the NGCP adhered to rules and utilized available resources during the blackout period. Almeda called for the inclusion of generation planning and resource assessment in shaping the country’s energy development roadmap. While expressing support for the government’s green energy initiative, he urged exploration of green baseload technologies such as Baseload Nuclear. Almeda underscored NGCP’s adherence to the data and protocols explicitly outlined in the Philippine Grid Code, highlighting their commitment to handling the system in strict compliance with established rules and utilizing available resources. He also acknowledged NGCP’s limitations, stating that the corporation cannot address these challenges in isolation. He emphasized the necessity for collaboration with stakeholders and the entire government to ensure the stability of transmission services and support a reliable power supply for all Filipinos.

‘To ensure growth, Marcos must focus on infraspend’

By Cai U. Ordinario

@caiordinario

HILE the President is “good” for the Philippine economy—based on his recent efforts to recover from the pandemic—a local economist said the public wants him to not just be good but excellent for economic growth. On the sidelines of a briefing by the First Metro Investment Corp. (FMIC)-University of Asia and the Pacific (UA&P) on Thursday, UA&P economist Victor A. Abola told reporters being excellent means the President must focus on infrastructure spending. Focusing on infrastructure spending includes specifically ensuring the amounts set aside for these projects are spent judiciously. This means, ensuring that corruption will not have any place in project implementation, according to Abola. “My assessment is that overall, I think BBM is performing well,

good. But of course, we would like to have (him) be excellent. We can do more. But I think that things are picking up. And a number of things really need a little (more) time,” Abola said. Abola also said the President must ensure that big-ticket projects such as the Metro Manila Subway are not stalled based on “flimsy objections.” He noted that some high-income areas have voiced concern that the subway could cause flooding or make their locale more vulnerable to an earthquake. The local economist said the construction of projects like the

Metro Manila Subway is not something that should lead to problems like flooding or being more quakevulnerable. He said these are “hermetically sealed” projects and in some cases use innovations such as double tunnels that would reduce the vulnerability of these projects to certain disasters. Abola deems it good that the Japanese are the ones undertaking the subway project. For one, Japan is no stranger to earthquakes and two, “the Japanese will not cut corners.” On New Year’s Day, Japan was struck by a magnitude 7.6 earthquake, toppling buildings and causing the death of dozens of its residents and citizens. Bloomberg earlier reported that the earthquake is only one of about 150 that happen in Japan annually. “I undestand there are some high-income areas that are (objecting to the) subway passing that area on the grounds that (there is) pollution or (earthquake risk), that’s also a very flimsy excuse because you go to Japan and they are earthquake-

prone and they have so many layers (of these subways) so these are not serious objections,” Abola stressed.

Anti-graft measures

ABOLA said, however, that the President has already removed some graft and corruption problems in government. This included the issuance of Executive Order 41 which prohibited the collection of pass-through fees on national roads by Local Government Units (LGUs). He said he believes passthrough fees are unconstitutional since the country is one state, and cities cannot simply impose their own tariffs and trade barriers. “We are one state, it’s not like you can impose tariffs or trade barriers between cities. [Those are] actually unconstitutional LGU moves. I believe its unconstitutional,” Abola said. “They’re even trying to tax things inside the tollways but that’s part of the national government. They are prohibited from taxing the national government, its obvious,” he added. Continued on A7

Continued on A7

Construction materials price uptick in NCR at 2-year low, says PSA By Andrea E. San Juan @andreasanjuan

HE price increase in wholesale construction materials in Metro Manila slowed to a two-year low in 2023, according to the latest data from the Philippines Statistics Authority (PSA). Based on the Construction Materials Wholesale Price Index in the National Capital Region (NCR) report, the index remained at 1.7 percent for the third consecutive month in December 2023, the lowest since the 2.0 percent growth posted in February 2021, PSA said. Compared with their respective annual growth rates in November 2023, PSA said higher annual increments were observed in some commodity groups in December. For one, sand and gravel grew by 1.3 percent from 1.2 percent ; hardware, 4.6 percent from 4.5 percent; lumber, 1.2 percent from 1.1 percent; and doors, jambs, and steel casement, 2.1 percent from 2 percent. PSA also noted that annual increases were recorded in the indices of tileworks at 0.1 percent, and fuels and lubricants at 0.5 percent in December 2023 from their respective annual declines of 0.1 percent and 3.6 percent in November 2023. In contrast, PSA said slower annual increases were seen in some commodity groups during the month. For instance, concrete products and cement grew slower at 1.8 percent from the 1.9 percent in November 2023. Plywood grew by 3.4 percent from 3.5 percent; G.I. sheet, 3 percent from 3.4 percent; electrical works, 4.5 percent from 4.8 percent. More commodities that posted slower annual increases were plumbing fixtures and accessories/ waterworks, growing by 2.3 percent from 2.5 percent; and painting works, 4.5 percent from 5.4 percent. PSA noted that the indices of the rest of the commodity groups

either retained their respective November 2023 annual rates or had zero percent annual rates during the month. Meanwhile, PSA data showed that the annual average rate of CMWPI for 2023 slowed to 5.3 percent from 8.3 percent in 2022. “Compared with their annual average increases in 2022, the indices of nine out of 17 commodity groups registered lower annual average increments in 2023,” PSA said in a statement on Wednesday. In addition, PSA noted that the index of glass and glass products recorded a zero percent average rate in 2023 from a 2.5-percent average increase registered in 2022. Meanwhile, PSA data reflected higher annual average increases in 2023 compared with their average rates in 2022. These commodity groups were: hardware, with 6.1-percent annual average increase from 5.8 percent in 2022; doors, jambs, and steel casement, 4.1 percent from 3.7 percent; and painting works, 9.5 percent from 7.5 percent. According to earlier stories of the BusinessMirror, PSA noted that the CMWPI is a variant of the General Wholesale Price Index that measures the changes in the average wholesale prices of construction materials. It added that the CMWPI is used to compute the price escalation of construction materials for various government projects. The 2012-based CMWPI covers 101 items in the market basket. The CMWPI market basket includes selected construction materials identified from the different lateral and vertical construction projects in 2012. These prices were based on the accompanying bills of materials provided by the Department of Public Works and Highways, National Housing Authority and Subdivision and Housing Developers Association.

CLARK’S TOP BOSS AT RCM Atty. Agnes VST Devanadera, president and CEO of Clark Development Corporation (center), served as the guest of honor and speaker at the Rotary Club of Manila's 23rd Weekly Meeting held at Manila Polo Club in Makati City. Joining her are RCM Director Albert ‘Hans’ Palacios (left) and RCM President Rafael ‘Raffy’ Alunan III. NONOY LACZA

Germany on SCS: We can’t afford a new war By Malou Talosig-Bartolome @maloutalosig

FTER the Covid-19 pandemic, the Russian invasion of Ukraine and Israel’s retaliation against Hamas, the world cannot afford to have another war, Germany’s top diplomat said. This is why Germany is supporting all efforts for the peaceful management of dispute in the South China Sea, German Foreign Minister Annalena Baerbock said. The 43-year-old foreign minister is in Manila as part of her Middle East and Southeast Asia swing. Philippine Foreign Affairs Secretary Enrique Manalo and Baerbock held a bilateral meeting at a hotel in Makati and both discussed extensively the increasing tension in

the West Philippine Sea. “There are truly rough winds blowing across the South China Sea, and this is happening in the middle of one of the most economic regions of the world,” Baerbock said at a press conference after the bilateral meeting. Baerbock expressed “concern” over the incidents during the past year where Chinese Coast Guard used military-grade laser and water cannon, and had a brief collision against Philippine Coast Guard and resupply vessels. “Such risky maneuvers hurt the rights and opportunities for economic development of your own country and other littoral states as well,” Baerbock said in German. Germany, a member of NATO, also advocates freedom of navigation in the South China Sea.

Forty percent of the European Union’s trade passes through the South China Sea.

‘Too many crisis at once’

“I THINK we all agree that we don’t need another crisis. There are too many crisis at once,” Baerbock said. She said that after the pandemic, the world was hoping countries would work together to address the economic fallout and other crisis like climate change. “Unfortunately, aside from the Russian war in Ukraine, we now have a war in the Middle East. So there is a need for crisis prevention, especially in this region. That is our top priority,” she added. Germany has been helping the Philippine government by providing drones to help monitor its

coastal areas from intrusions. She said they would like to help partners in the Indo-Pacific region comply with international law, and to promote a rules-based order, including compliance with the United Nations Convention on the Law of the Seas (Unclos). “The best insurance, the best protection, for smaller countries and also for us, is the international law,” Baerbock said. Baerbock is the first foreign minister to visit the Philippines after 10 years. “Germany is a valuable partner for the Philippines not only for the bilateral but also for regional and international. We have a wide range of cooperation on trade and investment, also on defense, but above all, on the rule of law.”

Companies BusinessMirror

Editor: Jennifer A. Ng

Globe taps AI to ‘optimize’ operations, elevate service

By Lenie Lectura

@llectura

lobe Telecom Inc. will increasingly integrate artificial intelligence (AI) into its network to enhance customer service, optimize operations, and streamline financial services.

“AI applications are widespread across Globe, such as in credit scoring within the FinTech sector of our business. We employ a substantial amount of AI and machine learning to determine the credit ratings of our millions of customers. In the area of networks in terms of optimization, in terms of operations, a lot of it can be automated as well through artificial intelligence,” said Ernest Cu, president and CEO of Globe. The company is exploring conversational AI products using a Tagalog large language model for improved

communication. These advancements are not only about enhancing conversations but also about employing automation to solve complex problems efficiently, it said. Another significant area where AI is making strides is in Globe’s lending business via GCash. The application of AI allows for the automation of credit scoring, offering swift and accurate loan services. Meanwhile, Globe’s corporate venture builder 917Ventures is also exploring the use of AI in some of their ventures, currently in incubation. This is in line with their long-

term goal of solving Filipinos’ most challenging pain points with their tech solutions products. 917Ventures looks to share more about these AI-driven ventures soon. “The use of AI extends beyond customer interaction, playing a crucial role in backend operations such as network optimization and operations automation. This not only improves service delivery but also boosts the company’s operational efficiency,” added Cu. Globe is setting the pace in the fintech sector by employing machine learning algorithms for credit rating, which processes millions of customers’ data to enhance financial inclusion and access to credit. “The adoption of AI is a testament to Globe’s forward-thinking approach, positioning the company at the forefront of technological advancement in the telecom industry.” The company reported last November 2023 that its profits plunged by 27 percent in January to September despite posting all-time high consolidated service revenues due to higher depreciation costs and a

non-operate charge versus last year. Its net income during the period dropped “due to the increased depreciation expense as well as this period’s non-operating charges versus last year’s non-operating income which included the partial sale of Globe’s data center business.” “Excluding this one-time gain, normalized net income would have been P14.8 billion, or down by 11 percent compared to the previous year,” the company said. It closed the period ending September with all-time high consolidated revenues of P121.1 billion, up by 3 percent from a year prior “despite the extended macroeconomic headwinds faced by the industry.” “This remarkable performance was mainly fueled by the strong contributions from its mobile, corporate data, and non-telco services, which fully offset the anticipated decline in home broadband.” Meanwhile, Globe’s total operating expenses including subsidy as of the nine-month period of 2023 amounted to P60.4 billion, up from P57.6 billion reported last year.

Shoppedia, PhilEx ink logistics deal E

-commerce firm Shoppedia said it struck an exclusive deal with PhilEx Solutions Corp. which seeks to set a benchmark for logistics and online trade in the Philippines. During the ceremonial signing of their memorandum of agreement on Wednesday at the headquarters of PhilEx in Pasig City, Shoppedia said it is tapping PhilEx as its sole delivery partner. The e-commerce firm is slated to launch within the first quarter. “Technically an e-commerce platform would always want to look for other delivery services to have more options. But I think I wanted to change the landscape of this because an e-commerce should always have one faithful partner to have that hassle-free delivery than having multiple delivery services but they can-

not even meet eye-to-eye,” Shoppedia Managing Director Neil G. La-as told reporters in an interview. Online trade has been in existence for quite some time now, but it’s phenomenal rise started during the Covid-19 pandemic when mobility restrictions prompted people to turn to the web for their daily needs. “We became so complacent with what the system is offering. We became so nonchalant about what’s going on in the system… [so] we want to infiltrate the system with a good behavior, with good governance in terms of making sure that consumers deserve what they need to get from us,” La-as said of their rigorous screening process for suppliers and merchants that will go onboard their platform. “So we will matter for 2024 because our vision changes the land-

Uniqlo owner tops profit projections

ICTSI aims to achieve net zero by 2050

niqlo owner Fast Retailing Co.’s operating profit for the first fiscal quarter topped analysts’ average projections on robust sales in North America and Europe. Operating profit for the three months to the end of November totaled ¥147 billion ($1 billion), on sales of ¥811 billion, the apparel retailer said in a statement Thursday. Analysts were predicting profit of ¥136 billion on revenue of ¥798 billion. Asia’s largest apparel maker is entering a new expansion phase, seeking to eventually more than triple its current sales to reach ¥10 trillion to become “a true global player, founder and Chief Executive Officer Tadashi Yanai said in October. The company, which relies on Japan and China for the majority of its revenue, is shifting its focus to markets such as North America, Europe and other parts of Asia. Operating profit from overseas Uniqlo operations jumped 36 percent to ¥77.8 billion for the quarter, making up for 53 percent of the total, according to documents provided by at post-earnings briefing held in Tokyo. Bloomberg News

scape of e-commerce that when you pick a product with Shoppedia, you are certainly assured that it will be delivered timely, correctly...because we partnered withPhilEx.” PhilEx Chief Executive Officer and founder Sem P. Sangoyo vowed to meet its client’s and customers’ expectations because as an online seller himself, he also wants to bring same quality products to their patrons. “We all know that among the complaints in e-commerce is that the actual parcel that some customers receive is far from what they expect based on the picture posted on the platform,” he said in a mix of Filipino and English. “So we guarantee that for every Filipino customer who will patronize our partnership with Shoppedia, the product to be delivered to them is safe, without

any damage, and useful.” He said PhilEx’s riders are equipped to deliver services even during uncertainties, force majeure, and natural catastrophes. “We are still part of the system, but we will revolutionize our services, we will revolutionize the system because the sudden peak of demand for e-commerce redounds also to logistics yet the quality of service declines,” Sangoyo said. Shoppedia is set to go live on March 8, offering various product categories, such as fashion, lifestyle, beauty, gadgets and electronics, toys, and industrial. It is also partnered with a leading department store. During the opening, the first 500 shippers can avail of a 50-percent discount on delivery fee, plus free vouchers and gift certificates. Roderick L. Abad

nternational Container Terminal Services, Inc. (ICTSI) is taking a significant step towards a more sustainable future by committing to achieve net zero greenhouse gas (GHG) emissions for its Scope 1 and 2 emissions by 2050. The company said this pledge demonstrates ICTSI’s dedication to responsible business practices and environmental protection, alongside its role in facilitating global trade. Christian R. Gonzalez, ICTSI Executive Vice President, Compliance Officer and Chief Sustainability Officer said: “Our commitment to decarbonization targets marks an important step on our journey to becoming a more sustainable company and as part of this, we are actively implementing initiatives to maximize energy and resource efficiency, reduce carbon intensity, and lower emissions.” Further to this, ICTSI commits to reduce its GHG emissions directly from its operations (Scope 1) and purchased electricity (Scope 2) by 26 percent per container move by 2030, benchmarked against a 2021 baseline – a significant step towards net zero by 2050.

SEC tells firms to observe deadlines BusinessMirror file photo

By Manuel T. Cayon @awimailbox

avao City—The Securities and Exchange Commission (SEC)-Davao Extension Office reminded business establishments and corporations of the upcoming deadline of the submission of documents and requirements, as well as payments, under the amnesty period. “Payments made will be forfeited in the absence of the required submissions,” the SEC has warned. In a statement posted online, the SEC cited its Memorandum Circular No. 20, series of 2023, which indicated that “applicantcorporations that have failed to submit the amnesty requirements on or before the deadline results in the forfeiture of a P5,000 fee for non-compliant corporations and 50 percent of assessed penalties for suspended/revoked corporations, in addition to the initial P3,060 initial petition fee”. To ensure a successful amnesty filing, it said the non-compliant corporations must submit their latest General Information Sheet (GIS) and Annual Financial Statement (AFS) on the SEC Electronic Filing and Submission Tool (eFAST). Suspended or revoked corporations should submit their petitions, along with their latest GIS and AFS, copies of their certificates of incorporation, latest mayor’s or business permits, and certificates of registration with the Bureau of Internal Revenue (BIR). These documents should be submitted to the Extension Office, initially through email at secdavao@ gmail.com, it added. It said applicantcorporations may reach out to SEC Davao Extension Office at 0932-9738791 for further inquiry. “The commission is preparing to

The Manila International Container Terminal (MICT), flagship of the ICTSI Group. Contributed photo

the deployment of 48 hybrid RTGs across its network, including 40 at the company’s flagship Manila International Container Terminal; two each at Mindanao Container Terminal in Misamis Oriental and South Pacific International Container Terminal in Lae, Papua New Guinea; and four at Matadi Gateway Terminal in D.R. Congo, underlines ICTSI’s keenness to quickly take action to reduce its environmental impact, said Gonzalez. “Making a positive environmental impact is fundamental to our business strategy which means we will continuously review and update our goals to ensure their relevance and accelerate our efforts towards mitigating climate change.”

implement a significant increase of up to 1,900 percent in basic penalties for late and non-filing of reports post-amnesty period,” the SEC said. In October 2023, the SEC released a list of 22,403 ordinary corporations that are in danger of having their certificates of incorporation revoked for their failure to submit their GIS within five years from the date of incorporation. A separate list covering 298,335 ordinary corporations that have failed to submit their GIS for three times consecutively or intermittently within 5 years has likewise been released. “Such corporations are encouraged to avail of the amnesty program to avoid getting their corporate registrations revoked or getting tagged as delinquent. Availing of the amnesty will also allow them to continue enjoying the benefits and privileges of being a registered business in the Philippines.” Corporations availing of the amnesty only answered a web-based expression of interest form on their SEC eFast accounts and pay the amnesty fee. Suspended and revoked corporations will also need to pay the petition fee. After signifying their interest to avail of the amnesty, eligible corporations must submit their latest due GIS and AFS on eFAST. Meanwhile, suspended and revoked corporations must also submit their petitions to lift their suspension or revocation, together with their GIS and AFS. Submissions of these requirements are all set on January 31, 2024. The SEC further requires suspended and revoked corporations to submit copies of their certificates of registration with the BIR to the SEC Company Registration and Monitoring Department or the nearest SEC Extension Office through email by January 31, 2024.

Google suffers setback in fight over EU fine

A The company is actively evaluating emissions across its entire value chain (Scope 3) and will develop an inventory by 2025, followed by a target review. These targets will be regularly reviewed and updated in alignment with evolving climate science, ensuring that ICTSI stays at the forefront of adaptation and mitigation efforts. ICTSI has already achieved carbon neutrality in four terminals in the Americas – Contecon Guayaquil in Ecuador, Contecon Manzanillo in Mexico, and Tecon Suape and Rio Brasil Terminal in Brazil – representing a significant quarter of the group’s total volume handled. This accomplishment, alongside

Friday, January 12, 2024

lphabet Inc.’s Google should lose its court fight to topple a €2.4 billion ($2.6 billion) European Union fine for unfairly favoring its own shopping services, an adviser to the EU’s top court said. Google “was leveraging its dominant position on the market for general search services to favor its own comparison shopping service by favoring the display of its results,” Juliane Kokott, an advocate general at the EU’s Court of Justice, said in a non-binding opinion on Thursday. She suggested EU judges dismiss Google’s appeal of an earlier court ruling finding the same violations. The EU’s top court often follows such advice in its final rulings, which typically come several months afterwards. EU competition regulators slapped Google with the fine in 2017—a record at the time—for violating antitrust rules by favoring its own shopping service over those of its rivals. The tech firm was forced to change the way it displays shopping search results that might help

rivals grab some of the valuable ad space on search pages. The fine formed part of a trio of EU decisions that led to €8.3 billion in total fines, including for abuses of its dominance on its mobile operating system and its display advertising operations. Google said it will “will review the opinion” and wait for the ruling. “Irrespective of the appeal, we continue to invest in our remedy, which has been working successfully for several years, and will continue to work constructively with the European Commission,” it said in a statement. The commission has since started a new probe into Google’s suspected stranglehold over digital advertising, sending it antitrust charges last year that threatened a breakup of parts of its lucrative business. Google last year warned it won’t accept the mandatory divestment of part of its services deemed vital by Margrethe Vestager, the bloc’s antitrust chief. The case is: C-48/22 P, Google and Alphabet v. Commission (Google Shopping). Bloomberg News

Companies BusinessMirror

Friday, January 12, 2024

PSEi, corporate earnings will rise this year—FMIC

By VG Cabuag

@villygc

irst Metro Investment Corp. (FMIC) said Thursday it expects the economy to grow by 6 percent this year, enough to help the Philippine Stock Exchange index (PSEi) to rise to as high as 7,500 points by yearend. Christina Ulang, FMIC head of research, said corporate earnings are projected to grow by 11 percent this year. This may give the main index, the PSEi, a price to earnings ratio of 12.6 times to 13.6 times. T he P SE i c lo s e d 202 3 at 6,450.04. For 2023, the main index was down by 116.35 points

or more than 1 percent. The benchmark index was up on Thursday by 67.62 points to close at 6,613.73 points. She said investors are optimistic at the start of the year and this sentiment may persist until the Chinese New Year in February. “But as soon as inflation disap-

points and the GDP number comes out, they may not hit the target, there could be a market reaction. Add to that if El Nino proves to be stronger than expected, quarter,” Ulang said. “But the policy rate cut could be coming soon, maybe earlier than expected or later depending on how the inflation picture evolves and we think the January inflation is going to be still on the downtrend and will be supportive of this ongoing rally.” Ulang said the potential easing of bond yields should boost the attractiveness of the stock market, encouraging issuers to consider equity issuances as a valuable alternative for capital raising. Meanwhile, Daniel Camacho, FMIC head of investment banking said the expected policy pivot by monetary officials, along with

a slowdown in inflation, is poised to entice debt issuers back into the market, capitalizing on reduced borrowing costs. The pivot, however, may only materialize by the second half of the year, a reduction of between 75 and 125 basis points across the curve. “We see a softening of rates as inflationary pressure decreases. We do not foresee a cut in BSP [Bangko Sentral ng Pilipinas] rates in the first half but possibly one or two in the second half of the year which will further push rates downwards.” Camacho said high rates last year tempered issuers’ fundraising through the fixed-income market, deferring or downsizing issuances or tapping bank loans instead. Issuances last year dropped to P106 billion last year compared to P327 billion in 2022.

Megaworld to build second Palawan hotel

e g awor l d C or p. on T hursd ay sa id it is building its second hotel development inside its 462-hectare Paragua Coastown ecotourism township in San Vicente, Palawan. The 10-story Paragua Sands Hotel will have 313 guest rooms and suites in varied layouts, ideal for tourists and travelers visiting the town of San Vicente. To be managed and operated by Megaworld Hotels and Resorts, Paragua Sands Hotel is scheduled for opening in 2029. It will be the 20th hotel property launched by Megaworld. Room types and sizes range from twin suite of up to 32 square meters, queen suite of up to 32.5 square meters, junior suite of up to 61 square meters, executive suite of up to 60.5 square meters and presidential suite of 140 square meters. There will also be dedicated specially-abled suites of up to 34 square meters for guests needing special room arrangements during their stay. These rooms will feature varying views of the nearby mountains and the nearby Pagdanan Bay. “We are very excited to introduce our 20th hotel property in our portfolio, and what better destination to host it than in San Vicente, Palawan, which is home to the longest beachline in the country and the second longest in the entire Southeast Asia,” Cleofe

Albiso, managing director, Megaworld Hotels and Resorts, said. Paragua Sands Hotel will be just a five-minute walk to both the beach and the mangrove reserve park, which will form part of the sprawling township. It will sit right beside Savoy Hotel Palawan and Oceanfront Premier Residences, the first hotel and residential condominium developments rising inside the township respectively, and surrounded by lots from the soon-to-rise Mercato Shophouse District nearby. It will feature a variety of facilities and amenities located at the central amenity area on the second and third floors. These include its own swimming pool and kiddie pool, a pool deck with seating area, an outdoor deck and balconies, a kid’s club, spa with treatment rooms, fitness center with yoga area, and male and female changing rooms with wet and dry sauna. Out of the 20 hotel properties Megaworld launched, 12 are operational with around 5,000 hotel room keys, namely Richmonde Hotel Ortigas, Eastwood Richmonde Hotel, Richmonde Hotel Iloilo, Savoy Hotel Newport, Savoy Hotel Boracay, Savoy Hotel Mactan Newtown, Belmont Hotel Manila, Belmont Hotel Boracay, Belmont Hotel Mactan, Kingsford Hotel Manila, Twin Lakes Hotel in Laurel, Batangas near Tagaytay and Hotel Lucky Chinatown in Binondo, Manila. VG Cabuag

MUTUAL FUNDS

January 11, 2024

NAV

One Year Three Year

Five Year

Y-T-D

per share Return*

Return

213.09

ATRAM Alpha Opportunity Fund, Inc. -a

0.2%

-2.77%

-4.32%

-0.3%

1.11%

1.4907

7.15%

3.71%

-0.19%

1.99%

1.22% -2.13%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9681

-0.26%

-2.41%

-6.45%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7018

0.29%

-4.81%

-5.81% n.a

First Metro Consumer Fund, Inc. -a

-5.16%

-6.25% n.a

1.79%

-2.6%

-3.67%

0.68%

0.6368

-5.66%

First Metro Save and Learn Equity Fund, Inc. -a 4.6616-2.17%

-0.24%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.7015-2.66% -3.13% n.a n.a MBG Equity Investment Fund, Inc. -a

84.3

9.87%

-6.03%

PAMI Equity Index Fund, Inc. -a 43.5416 Philam Strategic Growth Fund, Inc. -a

-2.04%

-3.07%

-3.69% n.a

1.47%

452.79

-0.04%

-3.17%

-3.67%

-0.24%

1.21%

Philequity Dividend Yield Fund, Inc. -a

1.2095

-0.29%

0.41%

-1.81% n.a

0.35%

Philequity Fund, Inc. -a

-0.27%

34.076

-6.72% n.a

-1.47%

-2.61%

1.56%

-2.15%

-3.48% n.a

1.04%

Philequity PSE Index Fund, Inc. -a

4.5748

-2.2%

-2.92%

1.43%

Philippine Stock Index Fund Corp. -a

761.37

-1.19%

-2.38%

-2.99%

1.44%

1.45%

Soldivo Strategic Growth Fund, Inc. -a 0.6875

-0.28%

-2.09%

-5.43% n.a

0.26%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4052

-1.63%

-2.71%

-4.58%

-0.27%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8633-1.49%

-2.69%

-3.29% n.a

United Fund, Inc. -a

0.63%

1.48%

3.137

-1.05%

-1.07%

-2.46%

-3.38%

0.77% 0.44%

1.3%

-0.81%

Philequity MSCI Philippine Index Fund, Inc. -a 0.8759 0.05%

1.31% 1.43%

1.22% 1.45%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0706-1.43% n.a n.a n.a

1.42%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.0113 n.a n.a n.a n.a 0.66% Philequity Alpha One Fund, Inc. -a

1.0221

-5.79%

-2.94% n.a n.a

0.3%

Philippine Stock Index Fund Corp. -a

924.26

-1.22% n.a n.a n.a

1.44%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c103.4345-0.59%-1.97%

-2.66%

2.13%

1.47%

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

$0.7898

-13.02%

-14.57%

-3.61%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6436

12.46%

-1.11%

-1.87%

-3.92%

7.2% n.a

-1.1%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Philippine Balanced Fund, Inc. -a 2.2126

4.43%

-1.55%

-0.7%

0.54%

ATRAM Unicapital Diversified Growth Fund, Inc. -a,41.5113

2.23%

-3.82%

-2.54%

-0.05% -1.38%

0.05%

First Metro Save and Learn Balanced Fund, Inc. -a 2.5043

-1.68%

-2%

-1.21%

-0.71%

0.3%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1914

-2.89%

-1.63% n.a n.a

0.53% NCM Mutual Fund of the Phils., Inc. -a

1.9477

-1.32%

-0.65%

0.48%

1.66%

PAMI Horizon Fund, Inc. -a

3.5696

2.25%

-2.33%

-0.11%

0.8%

0.39%

Philam Fund, Inc. -a

15.6223

1.87%

-3.03%

-0.85%

0.47%

0.38%

Solidaritas Fund, Inc. -a

2.0415

1.15%

-1.27%

-1.01%

1.25%

0.67%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4198

1.03%

-1.87%

-2.09%

0.15%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9051

0.07%

-1.18% n.a

0.09%

1.38%

0.76%

0.35%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.94352.59%

-2.96% n.a n.a

0.34%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8531-0.25%

-3.99% n.a n.a

0.71%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.833-1.15%

-4.26% n.a n.a

0.9%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03272

1.21%

-5.54%

-1.57%

0.12%

PAMI Asia Balanced Fund, Inc. -b$0.8862

-9.22%

-1.26%

-1.09%

-3.16% 4.34%

-6.2%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2417

7.81%

-2.44%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0284

3.52%

-4.24%

-1.48% 2.84%

1% n.a

-1.17% -1.21%

Bond Funds Primarily invested in Peso securities (shares) 1.75%

2.59%

2.27%

0.06%

ATRAM Corporate Bond Fund, Inc. -a

1.9106

1.69%

0.16%

0.61%

0.08%

0.09%

Cocolife Fixed Income Fund, Inc. -a

ALFM Peso Bond Fund, Inc. -a 390.73

3.3235

3.04%

1.11%

2.23%

3.74%

-0.05%

Ekklesia Mutual Fund, Inc. -a 2.2762

4.35%

-0.28%

1.29%

1.49%

-0.43%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4495

2.27%

-0.02%

2.04%

Philam Bond Fund, Inc. -a

-2.58%

2.36%

0.97%

-0.44%

4.2789

3.35%

2.36%

1.18%

Philam Managed Income Fund, Inc. -a

1.3797

4.24%

1.48%

3.23%

1.82%

0.47%

Philequity Peso Bond Fund, Inc. -a

4.0312

4.26%

0.4%

2.63%

1.71%

-0.08%

Soldivo Bond Fund, Inc. -a

3.07%

0.34%

3.19% n.a

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

1.0497

3.3001

4.71%

1.03%

3.44%

2.25%

Sun Life Prosperity GS Fund, Inc. -a

3.96%

0.29%

2.59%

1.63%

-0.33%

1.7636

-0.32%

0% -0.38%

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

1.0098 n.a n.a n.a n.a

0.22%

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $495.36

3.02%

0.82%

ALFM Euro Bond Fund, Inc. -a Є213.89

1.9%

-0.84%

1.99%

2.54%

0.02% -0.05%

0.14%

0.84%

ATRAM Total Return Dollar Bond Fund, Inc. -b$1.03512.06%

-6.51%

-1.75%

0.14%

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

4.2%

-1.94%

-0.08% n.a

-3.87%

-3.04%

-0.58%

-0.74%

PAMI Global Bond Fund, Inc. -b$0.8524

-1.21%

-7.82%

Philam Dollar Bond Fund, Inc. -a

$2.2837

4.88%

-3.17%

0.86%

1.86%

-1.56%

1.64%

-0.69%

1.34%

1.6%

0.08%

0.93%

-4.91%

-0.84%

0.43%

Philequity Dollar Income Fund, Inc. -a $0.0609644

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7589

-0.4%

-2.64%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.98

2.79%

1.8%

2.51%

2.05%

0.08%

First Metro Save and Learn Money Market Fund, Inc. -a 1.1095 3.28%

1.92% n.a n.a

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.37692.81%

2.44%

2.01%

2.04%

0.1%

0.09%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.76

4.17% n.a n.a n.a

0.17%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0988

2.62%

1.44%

1.57% n.a

0.12%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.554 0.88% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a

1.4743

17.16%

1.0051 n.a n.a n.a n.a

0.54%

Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.798-1.54%

-6.93% n.a n.a

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. 2 - Launch date is October 6, 2023.

-0.59%

c - Listed in the PSE.

3 - Launch date is May 25, 2023.

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

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

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

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

1,333,965 725,913,989 38,482 173,362,616 570,240 807,086 332,199,457 408,070 881,038 5,017.50 9,067,061.50 25,878,385 15,900 24,390 9,800 28,544

300,467,510 710 40,349,393 710,853 109,430,908 -5,017.50 -2,800,571 -4,489,250 -

INDUSTRIAL ACEN CORP 4.31 4.38 4.32 4.41 4.3 4.31 11,288,000 49,010,810 ALSONS CONS 0.54 0.55 0.55 0.55 0.55 0.55 96,000 52,800 0.77 0.79 0.77 0.79 0.77 0.77 177,000 136,370 ALTERNERGY HLDG ABOITIZ POWER 38.3 38.35 38 38.35 37.75 38.3 1,356,200 51,879,995 1.19 1.22 1.22 1.22 1.22 1.22 7,000 8,540 RASLAG BASIC ENERGY 0.185 0.189 0.188 0.19 0.186 0.186 680,000 127,410 FIRST GEN 17.7 17.8 17.7 17.94 17.6 17.7 728,800 12,896,304 62.25 64 62.2 64.3 62.2 64 41,310 2,641,865.50 FIRST PHIL HLDG MERALCO 380 384 382 385 380 380 84,450 32,179,346 18.8 18.88 18.8 18.96 18.48 18.8 1,363,200 25,510,652 MANILA WATER PETRON 3.39 3.4 3.39 3.4 3.38 3.4 79,000 267,560 REPOWER ENERGY 7.75 7.77 7.48 7.86 7.48 7.76 245,700 1,891,133 31 31.3 31.45 31.45 31 31 896,100 27,959,285 SEMIRARA MINING SYNERGY GRID 7.36 7.37 7.05 7.41 6.87 7.36 3,822,800 27,446,401 11 11.1 11.1 11.12 11 11.1 196,000 2,175,076 SHELL PILIPINAS SPC POWER 7 7.19 7.1 7.19 6.99 7.19 40,200 282,904 1.26 1.27 1.24 1.27 1.23 1.27 15,590,000 19,610,880 SP NEW ENERGY 0.69 0.7 0.67 0.7 0.67 0.7 5,995,000 4,136,740 AGRINURTURE AXELUM 2.24 2.32 2.31 2.31 2.3 2.3 92,000 211,650 33.45 33.6 33 33.7 32.9 33.6 2,560,500 85,638,690 CENTURY FOOD DEL MONTE 6.19 6.2 6.25 6.25 6.2 6.2 19,600 121,530 6.55 6.56 6.55 6.59 6.48 6.56 465,900 3,054,149 DNL INDUS 20.8 20.85 20.85 21 20.8 20.85 505,900 10,556,765 EMPERADOR SMC FOODANDBEV 49.85 50 49.95 50 49.85 50 8,940 446,133.50 0.63 0.64 0.64 0.64 0.63 0.63 2,072,000 1,306,730 FIGARO COFFEE ALLIANCE SELECT 0.46 0.5 0.46 0.46 0.46 0.46 10,000 4,600 0.89 0.9 0.91 0.92 0.87 0.89 2,757,000 2,455,930 FRUITAS HLDG 163.5 164 165 165 164 164 11,220 1,846,013 GINEBRA JOLLIBEE 258.4 259.8 250 260 249 259.8 1,130,380 290,440,468 1.42 1.43 1.43 1.43 1.42 1.42 475,000 676,860 KEEPERS HLDG MAXS GROUP 3.3 3.31 3.31 3.31 3.3 3.3 29,000 95,860 8.62 8.63 8.5 8.7 8.44 8.63 3,349,600 28,734,138 MONDE NISSIN SHAKEYS PIZZA 9.82 9.96 9.8 9.98 9.8 9.98 4,700 46,636 ROXAS AND CO 0.42 0.43 0.425 0.43 0.425 0.43 210,000 89,300 2.99 3 3 3 2.99 3 55,229,000 165,143,950 RFM CORP ROXAS HLDG 0.6 0.65 0.6 0.6 0.6 0.6 20,000 12,000 121.5 122.5 121 123.5 119.4 121.5 2,241,850 272,119,573 UNIV ROBINA VITARICH 0.5 0.53 0.49 0.53 0.49 0.53 404,000 199,365 VICTORIAS 3.1 3.27 3.26 3.26 3.26 3.26 4,000 13,040 0.97 0.98 0.99 0.99 0.97 0.97 439,000 429,610 CEMEX HLDG EC VULCAN CORP 0.7 0.71 0.7 0.71 0.7 0.71 209,000 146,770 6.18 6.23 6.15 6.26 6.1 6.23 255,600 1,584,350 EEI CORP MEGAWIDE 3.16 3.18 3.16 3.18 3.15 3.16 151,000 478,070 0.72 0.78 0.71 0.71 0.71 0.71 2,000 1,420 EUROMED PRYCE CORP 5.22 5.29 5.29 5.29 5.29 5.29 3,500 18,515 CONCEPCION 13.98 14.5 14.48 14.5 13.98 14.5 1,400 19,874 0.245 0.246 0.24 0.247 0.24 0.246 20,570,000 5,050,920 GREENERGY INTEGRATED MICR 2.88 2.89 2.97 2.97 2.87 2.87 2,764,000 8,153,530 1.1 1.12 1.14 1.14 1.1 1.12 440,000 489,100 IONICS 4.98 5.64 5.63 5.66 5.63 5.66 3,600 20,308 PANASONIC SFA SEMICON 2.3 2.42 2.42 2.44 2.35 2.44 438,000 1,058,130 1.78 1.8 1.77 1.81 1.77 1.78 136,000 242,250 CIRTEK HLDG

-9,294,220 38,500 -8,770,990 -11,660,784 -266,120 -3,130,898 11,004,950.00 -20 3,422,080 -3,927,392 -2,062,480 97,215 5,266,330 -273,010 -177,070.00 -1,040,965 4,960 -336,907 5,164,535 -179,578.50 8,320 4,600 18,000 41,250 46,748,942 1,430 -23,110 1,802,037 25,840 -4,300 -2,550,000 -36,334,107 8,820 -348,880 53,720 -7,852,880 2,240 113,920

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

34 138.9 6.81 107.5 31.35 8.51 55.95 8.5 18.7 53.7 73.6 44.9 2.6 2.7 0.49 178.4

1.09 672 48.5 11.56 4.77 10 5.45 613 3.5 40.2 0.4 4.3 8.99 2.65 890 117.1 96.35 0.25

34.8 139.8 7.28 108.8 31.6 8.6 56 8.68 18.8 55.75 73.95 45.1 2.65 2.74 0.5 179.6

1.1 674 49.2 11.6 4.81 10.08 5.55 614 3.56 40.5 0.43 4.5 9.08 2.7 896 118 101.5 0.26

33.8 137 7.1 105 31.5 8.42 55.9 8.6 18.76 55.75 74 45.05 2.65 2.73 0.49 178.4

1.12 670 48.5 11.46 4.8 9.88 5.5 604 3.56 41.5 0.4 4.28 8.98 2.7 884 115 96.2 0.25

34.95 139.8 7.28 108.8 31.6 8.65 56.2 8.6 18.8 55.75 74.3 45.9 2.65 2.73 0.49 178.4

1.13 678.5 49.2 11.62 4.82 10.12 5.55 613.5 3.56 41.5 0.425 4.3 9.1 2.7 897.5 118 96.4 0.25

33.8 136.2 6.82 103.5 31.5 8.42 55.85 8.5 18.76 55.75 73.55 44.85 2.65 2.7 0.49 178.4

1.09 666 48.45 11.46 4.78 9.88 5.5 603 3.56 40.2 0.4 4.27 8.97 2.68 884 114.8 96.2 0.25

34.95 139.8 7.28 108.8 31.5 8.6 56 8.5 18.76 55.75 73.6 44.9 2.65 2.7 0.49 178.4

1.1 674 48.5 11.6 4.81 10.08 5.55 613 3.56 40.2 0.425 4.3 8.99 2.7 890 118 96.35 0.25

39,200 5,238,900 5,600 1,615,630 18,100 94,000 5,928,740 47,500 46,900 90 122,770 575,000 6,000 9,000 20,000 160

3,545,000 730,610 759,300 3,008,000 301,000 3,921,200 1,500 186,680 174,000 2,197,400 20,000 11,000 698,400 27,000 104,930 731,950 140 500,000

3,918,080 492,277,790 36,923,715 34,850,514 1,447,290 39,473,079 8,260 114,235,450 619,440 88,676,070 8,250 47,160 6,303,654 72,500 93,490,300 85,555,563 13,474 125,000

ARTHALAND CORP 0.42 0.445 0.425 0.425 0.425 0.425 10,000 4,250 AYALA LAND 34.25 34.4 34.25 34.5 34.05 34.25 8,211,600 281,698,160 1.8 1.83 1.85 1.85 1.78 1.83 256,000 464,400 AYALA LAND LOG ALTUS PROP 8.99 9 9.01 9.01 9 9 20,000 180,090 0.98 1.01 0.98 1.02 0.97 1.01 3,137,000 3,111,550 ARANETA PROP AREIT RT 33.5 33.55 33.6 33.6 33.4 33.5 471,100 15,787,565 A BROWN 0.66 0.67 0.68 0.68 0.66 0.66 246,000 162,530 0.71 0.72 0.71 0.73 0.71 0.72 30,000 21,340 CITYLAND DEVT CROWN EQUITIES 0.067 0.072 0.072 0.072 0.071 0.072 1,040,000 74,850 2.55 2.57 2.58 2.59 2.57 2.57 155,000 399,770 CEB LANDMASTERS CENTURY PROP 0.27 0.275 0.275 0.28 0.265 0.27 1,130,000 303,900 CITICORE RT 2.6 2.61 2.59 2.61 2.59 2.61 5,973,000 15,537,080 8.05 8.1 8.11 8.11 7.97 8.1 34,800 279,246 DOUBLEDRAGON DDMP RT 1.22 1.23 1.21 1.23 1.2 1.23 2,664,000 3,266,660 5.35 5.4 5.4 5.4 5.2 5.4 11,400 61,330 DM WENCESLAO EMPIRE EAST 0.123 0.125 0.124 0.125 0.123 0.123 500,000 61,830 0.28 0.285 0.285 0.285 0.285 0.285 50,000 14,250 EVER GOTESCO 2.97 2.99 2.97 2.99 2.96 2.99 1,643,000 4,895,250 FILINVEST RT FILINVEST LAND 0.67 0.68 0.68 0.68 0.64 0.67 2,130,000 1,424,700 8.61 8.79 8.71 9.17 8.61 8.79 80,900 702,450 8990 HLDG PHIL INFRADEV 0.54 0.55 0.55 0.55 0.55 0.55 49,000 26,950 0.75 0.77 0.78 0.78 0.77 0.77 51,000 39,680 CITY AND LAND MEGAWORLD 2 2.01 2.01 2.01 1.99 2 7,760,000 15,524,500 MRC ALLIED 1.4 1.41 1.4 1.45 1.4 1.41 85,000 119,810 12.74 12.78 12.78 12.78 12.68 12.78 250,700 3,195,190 MREIT RT PHIL ESTATES 0.32 0.325 0.325 0.325 0.325 0.325 20,000 6,500 1.56 1.57 1.56 1.56 1.54 1.56 1,019,000 1,588,550 PREMIERE RT 2.4 2.56 2.32 2.56 2.32 2.56 14,000 32,720 PRIMEX CORP RL COMM RT 5.1 5.11 5.06 5.11 5.04 5.1 1,622,400 8,262,336 16.2 16.24 16.28 16.28 16.16 16.2 558,200 9,047,840 ROBINSONS LAND ROCKWELL 1.39 1.43 1.4 1.43 1.4 1.43 113,000 160,950 3.76 3.78 3.79 3.8 3.76 3.78 231,000 873,280 SHANG PROP STA LUCIA LAND 3.33 3.45 3.06 3.45 3.04 3.45 57,000 177,780 SM PRIME HLDG 33.5 33.65 33.45 34 33.35 33.5 8,877,200 299,007,835 2.26 2.39 2.39 2.39 2.26 2.38 3,000 7,030 VISTAMALLS SUNTRUST RESORT 0.75 0.79 0.79 0.79 0.79 0.79 16,000 12,640 1.78 1.8 1.79 1.8 1.77 1.78 1,352,000 2,404,920 VISTA LAND VISTAREIT RT 1.71 1.73 1.72 1.74 1.72 1.73 802,000 1,384,670 SERVICES ABS CBN 4.98 4.99 4.89 5.01 4.89 4.99 892,000 4,420,800 GMA NETWORK 8.88 8.9 8.91 8.95 8.88 8.88 350,100 3,111,418 1,724 1,725 1,722 1,750 1,722 1,725 22,020 38,020,775 GLOBE TELECOM PLDT 1,281 1,286 1,290 1,299 1,281 1,281 31,710 40,722,405 0.014 0.015 0.014 0.015 0.014 0.015 48,100,000 686,100 APOLLO GLOBAL CONVERGE 9.2 9.25 9.06 9.47 9.06 9.2 2,551,300 23,616,312 DFNN INC 3.11 3.2 3.12 3.14 3.12 3.12 11,000 34,360 2.4 2.41 2.39 2.44 2.37 2.4 4,578,000 11,040,840 DITO CME HLDG NOW CORP 1.19 1.2 1.2 1.2 1.15 1.19 748,000 874,830 0.135 0.139 0.139 0.139 0.135 0.135 120,000 16,240 TRANSPACIFIC BR ASIAN TERMINALS 15.52 15.96 15.5 15.96 15.5 15.6 4,600 71,506 CHELSEA 1.42 1.45 1.42 1.45 1.42 1.45 92,000 131,300 33 33.1 33.5 33.5 33 33 183,200 6,060,870 CEBU AIR INTL CONTAINER 238.4 241 237 243.6 236 238.4 1,232,860 296,722,986 16.96 18.18 16.98 16.98 16.98 16.98 100 1,698 LBC EXPRESS MACROASIA 3.99 4.02 3.99 4.02 3.99 4.02 709,000 2,843,190 5.11 5.36 5.11 5.44 5.11 5.36 4,200 22,367 PAL HLDG HARBOR STAR 0.76 0.77 0.76 0.77 0.73 0.76 56,000 42,400 ACESITE HOTEL 1.72 1.88 1.87 1.87 1.87 1.87 9,000 16,830 0.062 0.063 0.062 0.062 0.062 0.062 1,320,000 81,840 BOULEVARD HLDG DISCOVERY WORLD 1.12 1.27 1.09 1.29 1.09 1.27 111,000 123,790 0.395 0.41 0.375 0.395 0.375 0.395 470,000 184,600 WATERFRONT 8.11 8.74 8.74 8.74 8.74 8.74 1,000 8,740 CENTRO ESCOLAR FAR EASTERN U 561.5 594.5 594.5 594.5 594.5 594.5 10 5,945 7.02 7.37 7.32 7.32 7.02 7.02 47,200 345,444 IPEOPLE STI HLDG 0.465 0.47 0.465 0.47 0.465 0.47 1,440,000 673,700 1.17 1.18 1.19 1.19 1.17 1.18 337,000 396,350 BELLE CORP 9.96 9.99 9.98 10.24 9.92 9.96 5,613,100 56,131,589 BLOOMBERRY PACIFIC ONLINE 4.11 4.15 4 4.15 4 4.15 130,000 528,880 0.84 0.85 0.86 0.87 0.84 0.85 805,000 685,660 PH RESORTS GRP PREMIUM LEISURE 0.66 0.67 0.67 0.67 0.66 0.67 4,997,000 3,323,770 7.94 7.95 8.03 8.05 7.91 7.95 1,705,400 13,597,772 DIGIPLUS PHILWEB 1.72 1.78 1.78 1.78 1.72 1.78 62,000 107,340 ALLDAY 0.16 0.161 0.16 0.162 0.16 0.16 1,610,000 258,300 1.16 1.17 1.18 1.19 1.15 1.17 1,686,000 1,971,670 ALLHOME METRO RETAIL 1.22 1.26 1.22 1.26 1.22 1.26 39,000 47,620 28.5 28.55 28.2 28.75 28.1 28.5 1,888,300 53,578,110 PUREGOLD ROBINSONS RTL 39.55 39.8 40.4 40.7 39.5 39.55 401,400 15,892,705 PHIL SEVEN CORP 75 76.25 76.15 76.25 75.1 76.25 169,150 12,880,113.50 2.69 2.7 2.68 2.73 2.65 2.7 313,000 849,160 SSI GROUP UPSON INTL CORP 1.55 1.62 1.67 1.67 1.56 1.56 254,000 403,660 23.45 23.95 23.85 24 23.45 23.45 515,300 12,268,325 WILCON DEPOT EASYCALL 2.1 2.94 2.18 2.18 2.18 2.18 1,000 2,180 0.31 0.315 0.315 0.315 0.315 0.315 140,000 44,100 MEDILINES 0.175 0.178 0.175 0.178 0.175 0.178 1,200,000 212,140 PRMIERE HORIZON SBS PHIL CORP 4.23 4.45 4.21 4.44 4.21 4.44 25,000 107,270 MINING & OIL APEX MINING 2.81 2.83 2.8 2.84 2.79 2.83 2,436,000 6,860,090 3.31 3.49 3.3 3.49 3.3 3.49 3,000 10,090 ATLAS MINING BENGUET A 4.72 4.77 4.73 4.75 4.72 4.75 342,000 1,623,740 4.73 4.76 4.73 4.73 4.73 4.73 1,000 4,730 BENGUET B COAL ASIA HLDG 0.13 0.158 0.121 0.13 0.12 0.13 110,000 13,340 FERRONICKEL 2.15 2.17 2.12 2.17 2.12 2.17 189,000 408,360 0.075 0.079 0.075 0.075 0.075 0.075 1,100,000 82,500 LEPANTO A LEPANTO B 0.076 0.078 0.077 0.078 0.077 0.078 1,100,000 85,390 0.0048 0.0049 0.0049 0.0049 0.0049 0.0049 1,000,000 4,900 MANILA MINING A MANILA MINING B 0.0048 0.0049 0.0049 0.0049 0.0049 0.0049 1,000,000 4,900 MARCVENTURES 0.99 1 1 1.02 0.99 1 1,831,000 1,837,350 5.01 5.02 5 5.07 5 5.02 2,601,100 13,073,489 NICKEL ASIA ORNTL PENINSULA 0.63 0.65 0.67 0.67 0.63 0.65 166,000 106,550 3.2 3.23 3.19 3.2 3.18 3.2 625,000 1,994,440 PX MINING ORNTL PETROL A 0.0079 0.0082 0.0079 0.008 0.0079 0.008 9,000,000 71,200 0.0075 0.0079 0.0076 0.0076 0.0076 0.0076 6,000,000 45,600 PHILODRILL PXP ENERGY 3.76 3.81 3.8 3.99 3.76 3.81 158,000 599,500 PREFFERED HOUSE PREF B 95.05 98 98 98 97 97 110 10,680 ACEN PREF B 1,070 1,079 1,079 1,079 1,079 1,079 120 129,480 487.4 495 495 495 495 495 10 4,950 AC PREF B2R BRN PREF A 97 98 98 98 98 98 200 19,600 33.1 33.9 34 34 33.1 33.1 900 29,985 CEB PREF DD PREF 94.5 95 94.25 95 94.2 95 6,250 592,904.50 EEI PREF B 96.2 97 97 97 97 97 110 10,670 910.5 950 920 950 920 950 5,950 5,483,450 JFC PREF B MWIDE PREF 4 93.3 93.35 93.3 93.35 93.3 93.35 1,140 106,375 101 101.3 101 101 101 101 190 19,190 MWIDE PREF 5 PNX PREF 4 213.2 229.8 231.8 231.8 231.8 231.8 10 2,318 PCOR PREF 3A 980 991 991 991 991 991 100 99,100 982 998.5 998.5 998.5 998.5 998.5 130 129,805 PCOR PREF 3B PCOR PREF 4C 990 1,005 990 990 990 990 260 257,400 72.5 73 73 73 73 73 3,650 266,450 SMC PREF 2F SMC PREF 2I 70.4 72.65 72.6 72.65 70.4 72.65 16,730 1,185,288 67.05 67.95 67.3 67.3 67 67 73,300 4,914,674.50 SMC PREF 2J SMC PREF 2K 67.25 68.75 68 68 67.25 67.25 8,380 563,930 SMC PREF 2O 77.9 78 78 78 77.9 77.9 16,890 1,316,840

ABS HLDG PDR 4.54 4.55 4.5 4.6 4.5 4.55 305,000 1,400,200 GMA HLDG PDR 7.85 8.99 8.3 8.3 7.77 7.77 8,000 64,064

WARRANTS

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

January 11, 2024

PHIL. DEPOSITARY RECEIPTS

1.02%

8.54% n.a n.a

0.35%

1 - Launch date is August 22, 2023.

PSE STOCK QUOTATIONS

PROPERTY

Stock Funds ALFM Growth Fund, Inc. -a

www.businessmirror.com.ph

TECH WARRANT

0.29

0.32

0.3

0.32

0.3

0.32

30,000

9,200

37,500 -25,138,690 -2,960,205 12,490,050 -326,720 301,504 39,191,670 -59,372,615 -25,800 -1,450,004 16,614,650 77,871,762 96,064,795 5,250 264,805 -17,750 12,900 442,250 -992,610 -14,250.00 531,990 173,330 -2,486,780 208,682 -10,920 -1,244,001.00 7,798,452 -75,260 -22,467,115 17,820 -18,193,680 -3,037,560 4,600 -1,262,270.00 -21,880 -650,010 102,620 -2,822,870 -96,052,248 -144,760.00 3,800 5,030 -11,700 -2,622 -384,520 -28,979,651 105,400 9,900 1,695,018 -135,080 25,913,370 -13,896,460.00 -259,064.50 -10,920 -152,750 1,114,860 15,750 88,770 -2,002,000 -8,130 -6,338,600 -9,330 -1,349,700 -44,144 -

SMALL, MEDIUM & EMERGING

0.43 0.43 0.425 0.425 30,000 12,800 0.73 0.77 0.73 0.77 39,000 29,990 0.92 0.95 0.92 0.95 25,000 23,350 0.68 0.68 0.65 0.67 168,000 109,790 0.058 0.058 0.057 0.057 240,000 13,820 1.05 1.05 1.02 1.05 455,000 468,820 40,700 0.206 0.208 0.206 0.207 370,000 76,560 -

EXHANGE TRADE FUNDS

104 104.6 103.8 104.6 11,350 1,182,510 -3,126

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS LFM PROP MERRYMART XURPAS

FIRST METRO ETF

0.415 0.74 0.93 0.65 0.057 1.03 0.207

104.3

0.425 0.77 0.94 0.67 0.06 1.05 0.223 104.6

www.news.businessmirror@gmail.com

Nasdaq to use AI vs financial crimes

ASDAQ Inc. is throwing its weight behind technology that protects against financial crime as the demand to stop sophisticated, bad actors rises, according to CEO Adena Friedman. “We are investing in the technology in a very significant way,” Friedman said Wednesday at the Consumer Technology Association conference in Las Vegas. The antifinancial crime business is also Nasdaq’s fastest-growing, up roughly 20 percent year-over-year, she said. Nasdaq is enhancing its anticrime offerings using artificial intelligence, which can predict and speed up the process of identifying criminal behavior, and rooting out bad actors in the industry, she said. The firm is working with banks, other exchanges and brokerage firms that can use the software to eliminate threats. “This is just the next leg of our growth,” said Friedman, 54. Since become CEO in 2017, Friedman has helped Nasdaq evolve beyond its roots as an exchange. Over time, it has shifted its resources into offerings with more predictable revenue streams as opposed to relying solely on income from trading and market volatility. Last year, it completed its largest acquisition ever, buying software provider Adenza for $10.5 billion to help transform the trading and markets firm into a fully fledged financial-services company. Friedman also discussed the Securities and Exchange Commission’s approval Wednesday of spot Bitcoin ETF’s. Nasdaq is among a number of exchanges that filed to list the new product on their venue. The ETF offering is regulated and liquid, which provides more access to Bitcoin without directly owning it, she said. “It opens the door for more accessibility for that particular asset class,” Friedman said. More broadly across capital markets, Friedman said she expects to see a “more vibrant” backdrop for initial public offerings in 2024. “We’re cautiously optimistic,” she said. Last year, in a muted year for dealmaking, Nasdaq beat out the New York Stock Exchange for the most listings. Friedman said activity could pick up, even as the cost of capital remains high. “There are some great companies looking to get out,” including in the biotechnology sector, she said. AI may also come into play, with some companies demonstrating how they’re leveraging the technology, using it as a way to differentiate their businesses. The number of public offerings coming to market will also depend on the economic environment. “A lot of the economic unknowns are more known,” with inflation coming down and rates potentially falling over time, Friedman said in a separate interview with Bloomberg Television. “Investors feel more ready to put more capital to work this year.” Bloomberg News

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Friday, January 12, 2024

Monetary rate cuts expected in 2nd half

By Cai U. Ordinario

@caiordinario

ESPITE the impact of elevated rates on debt issuances, First Metro Investment Corp. (FMIC) expects the Bangko Sentral ng Pilipinas (BSP) to remain hawkish, at least for the first six months of 2024. In a briefing last Thursday, FMIC Executive Vice President Daniel D. Camacho said the BSP may start cutting rates in the second half of the year. Camacho said the BSP is expected to cut rates by as much as 75 to 125 basis points (bps) this year. This could be dealt with in one or two rate

cuts in the second semester. “We do not foresee a cut in BSP rates in the first half but possibly one or two in the second half of the year, which will further push rates downwards,” he said. Camacho, who also heads FMIC’s investment banking group, noted that market volume dropped by half

last year while corporate bond issuances declined by two-thirds. Market volume in 2023 contracted 53 percent to P647 billion from P1.384 trillion. Corporate bond issues shrank to P106 billion in 2023 from P327 billion in 2022. The data also showed bank bonds declined to P98 billion in 2023 from P179 billion in 2022 while government bonds decreased to P355 billion in 2023 from P878 billion in 2022. “The elevated rates caused issuers last year to defer or downsize their debt issuances or go to the bank market instead,” Camacho said. During the briefing, University of Asia and the Pacific (UA&P) Economist Victor A. Abola said the BSP is expected to be slow in cutting rates, with the first cut expected to be 25 bps, which could happen as early as June 2024. Abola said the BSP may not reduce

interest rates to below 5 percent this year given the risks to inflation. “Given the hawkishness of the government, I don’t think it’s easy to lower (interest rates) further,” he said. Meanwhile, based on the highlights of the Monetary Policy Stance Meeting on the Monetary Board, the BSP said its risk-adjusted inflation forecast for 2024 is now lower at 4.2 percent from 4.4 percent in the previous meeting in November while the 2025 estimate of 3.4 percent remains unchanged. The Monetary Board stressed the need to continue a tight monetary policy “until inflation expectations were firmly anchored and inflation has reverted to the target range.” “The balance of risks to the inflation outlook also remained significantly skewed to the upside from 2023 through 2025,” the BSP report stated.

Some risks to the BSP’s inflation outlook include higher jeepneys, taxis, and the Metro Rail Transit system fares. BSP said there are already pending petitions in this regard. The BSP also said higher electricity rates are expected this year following the Supreme Court decision in July 2022 to nullify the Energy Regulatory Commission’s 2014 order to cap Wholesale Electricity Spot Market prices. Other risks include the higher global oil prices caused by the possible oil supply disruptions from the Israel-Hamas conflict and higherthan-expected wage adjustments in areas outside the National Capital Region. There is also the additional impact of a strong El Niño episode on food prices and utility rates and higher domestic food prices due to supply constraints.

Disco bond holders near getting windfall NEA lends over ₧1B to 28 electric co-ops last year H

OLDERS of one of the last remaining dollar bank bonds from the 1980s are closer to getting a windfall. The European Banking Authority announced on Thursday that legacy perpetual debt issued by a predecessor of BNP Paribas SA cannot count as fully eligible tier 2 capital. The French bank already stopped counting the notes as tier 2 capital at the end of 2023 and announced an intention to call them subject to permission from the European Central Bank. The EBA decision boosts the prospects of an early repayment at face value for these discounted perpetuals—known as discos for short. The case is among the final battles in one of the most lucrative trades of the past year, scoring gains that exceeded 50 percent in some cases as investors bet on early repayments. Europe’s banking watchdog has been in the middle of some of these tussles.

“There were debates between banks and holders on legacy instruments that some times could be tense,” said Delphine Reymondon, who is responsible for liquidity, leverage, loss absorbency and capital at the EBA. “We are pleased with the big clean-up of disco instruments and legacy instruments more generally because this is exactly what our previous publications advised.” Issued almost 40 years ago to fill capital needs, discos started becoming obsolete as capital following changes to regulation after the financial crisis. Some banks kept them because of their low cost, and they typically traded at steep discounts. The EBA announcement came in a response to a September letter by law firm Quinn Emanuel Urquhart and Sullivan, LLP, which represented a committee of noteholders. Under $274 million of the bond, issued back in 1986, remains out-

standing. Its next call date is scheduled for March 28, based on data compiled by Bloomberg. It is quoted at just under face value, indicating a high probability of repayment. Its price stood at about 71 cents on the dollar a year ago. Traders who managed to snap it up then could be sitting on a potential return of nearly 50 percent. Quinn Emanuel’s letter was sent shortly after bondholders rejected a motion to move the bond’s floating coupons away from the now-dead Libor rate, in what was another attempt to force an early repayment. The end of US dollar Libor’s synthetic form in September could make coupon calculations impossible. Representatives at BNP Paribas and Quinn Emanuel declined to comment. Lenders redeemed billions of these disco bonds in 2023, handing out handsome gains as they retired almost all of the remaining discos. Bloomberg News

US CPI report to show soft core inflation

monthly report on US consumer prices due Thursday will probably show another soft inflation reading thanks in part to more declines in the goods sector, according to Bloomberg Economics. The report will probably show the so-called core consumer price index, excluding food and energy, rose just 0.2 percent in December, bolstering Federal Reserve policymakers seeking to bring inflation down, Bloomberg economists Anna Wong and Stuart Paul wrote Wednesday in a preview of the release. December’s figures should “add to Fed confidence that disinflation is making encouraging progress,” Wong and Paul said. “Holiday discounts and imported disinflation from China likely drove a decline in core goods prices, while core services prices moderated.”

briefs

➜ CIS Bayad taps Pisopay.com

CIS Bayad Center Inc. announced last Monday it has inked an agreement with cloudbased financial application provider Pisopay.com Inc. CIS Bayad said that under the partnership, Pisopay will integrate its biller brands with the Bayad app, allowing physical and digital touchpoints to accept payments for government institutions and selected local government units (LGUs), academic institutions and e-commerce business. The firm didn’t disclose the value of the agreement. Bayad president and CEO Lawrence Y. Ferrer was quoted in the statement as saying that the firm is “constantly maximizing cybersecurity measures and upgrading real-time posting features to enhance endto-end transaction processing.” Pisopay.com Chairman Jae Jung Jang also assured the clients of seamless service. Rizal Raoul Reyes

➜ SLGS names head for PHL

SUN Life Global Solutions (SLGS) Pvt. Ltd. announced last December 18 that it appointed Nathalie Bernardo as Vice President and Site Head for the firm’s Philippine operation. In a statement, the firm said that Bernardo will be responsible “for leading SLGS Philippines organization and furthering strategic imperatives.” “Her core responsibilities will include driving technology and digital solutions and/or outcomes for Asia and business operations and client care for Canada and the US,” the company added. Bernardo earned a Bachelor of Science degree in Industrial Management Engineering, a minor in Chemical Engineering from De La Salle University and earned an MBA from the De La Salle University Graduate School of Business.

Core inflation has generally receded faster than Wall Street and the Fed anticipated in recent months, led by declines in core goods prices. They fell each month from June to November, beginning to chip away at some of the surge from 2020 through early 2023. Now, forecasters see the Fed’s preferred inflation gauge ending the year around 2.2 percent—just above the central bank’s 2 percent target. That outlook assumes more deflation in goods, some moderation in services inflation and a step down in the pace of rent increases. “Over the past six months, housing inflation has slowed to slightly above 5 percent at an annual rate. That’s still much higher than the 2.5 percent it averaged from 2010’19, but it means there’s more room for disinflation to progress,” Wong

and Paul said. “Available market indicators, such as Yardi Matrix’s estimate of recently agreed-upon rents, suggest housing inflation should decline to 3.5 percent by the end of 2024.” The Bloomberg economists also sounded a note of caution. “Our house view is that underlying CPI inflation is running at a pace closer to 3 percent than the Fed’s 2 percent target,” they said. “The disinflationary impulse for core goods is likely to fade in the second half of the year as firms complete destocking excess inventories.” The Bloomberg Economics team’s 0.2 percent estimate for the monthly change in headline index in December is in line with the median estimate in a Bloomberg survey of outside forecasters. Their estimate for the core index is slightly below consensus. Bloomberg News

Bitcoin briefly tops $47K as US SEC approves ETF

ITCOIN briefly scaled $47,000 in a muted reaction after the US Securities and Exchange Commission approved exchangetraded funds that invest directly in the token, as traders wait to see how much money the products garner. The largest cryptocurrency was steady at $46,060 as of 7:48 a.m. Thursday in London after paring the earlier climb. Some view the SEC decision as a landmark step that widens the investor base for digital assets. Bitcoin had already jumped over 160 percent in the past 12 months in anticipation of the ETFs as well as looser monetary policy. Other major cryptocurrencies

were mixed. Ether, the second biggest token, stood out with a 9 percent advance in the past 24 hours to $2,587 on bets that it will be the focus of the next wave of spot crypto ETF products in the US. Market watchers had wondered whether Bitcoin was ripe for a pullback from the actual green light for spot ETFs if speculators decide to bank some of the profits from the token’s months-long advance. The news had largely been “priced in” and inflows into the ETFs will now be closely watched, said Caroline Mauron, co-founder of digital-asset derivatives liquidity provider Orbit Markets. Bloomberg News

By Lenie Lectura

@llectura

HE National Electrification Administration (NEA) has extended over P1-billion worth of loans to 28 electric cooperatives (ECs) in 2023. The NEA said P474.69 million of the total amount (P1,002,540,867.31) was utilized by 19 ECs for their capital expenditure (capex). These include ECs in Basilan, Bohol, Bukidnon, Camotes Islands, Davao del Sur, Iloilo, Laguna, Leyte, Misamis Oriental, Negros Occidental, Northern Samar, Quezon Province, Siargao, Siasi, Sorsogon, South Cotabato, Surigao del Sur, Tawi-Tawi, and Zamboanga del Norte. Meanwhile, loans used for work-

ing capital reached P465-million. The amount was availed by 11 ECs operating in Antique, Aurora, Batanes, Bohol, Camiguin, Central Pangasinan, Laguna, Lanao del Norte, Misamis Oriental, Negros Oriental, and Zamboanga del Sur. The NEA also recorded P12.85million worth of loan availed by Misamis Oriental I Rural Electric Service Cooperative Inc. to purchase a modular generator set and a P50million short-term credit facility accessed by Lanao del Norte Electric Cooperative Inc. Funding was sourced from the agency’s Enhanced Lending Program. The NEA said the total releases exceed its 2023 target of P700,000,00 by 143.22 percent.

Evelyn Salire: Association executive extraordinaire

first met Evelyn Salire about 12 years ago in a MICE (meetings, incentives, conferences and exhibitions) event. She was representing her organization, the Philippine Retailers Association (PRA), and me, as then Secretary-General of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). Since we carried the same title, we were in the same “cluster group” of the event and this is where I came to know Evelyn up close and personal. At the time, I already had the idea of setting up an association for association executives in the Philippines, which earlier has drawn positive interest from a few contacts in the association community, including the Tourism Promotions Board (TPB). So, when I shared the idea with her, Evelyn supported the initiative right away, as she believed the time was ripe to further professionalize association management and governance in the country. On November 19, 2013, with the support of the TPB, the first Association Executives Summit was held at the Philippine International Convention Center (PICC), with over 200 participants from various national associations and membership organizations in attendance. In a town hall meeting after the Summit, which I presided to launch the founding of the Philippine Council of Associations and Association Executives (PCAAE), I posed a question to the audience: “Who among you know that there is such a profession as an association executive?’ The room was quiet and only one raised her hand to answer my question affirmatively: it was Evelyn! It so happened that both of us were affiliated with the American Society of Association Executives (ASAE), the over 40,000 member-strong and oldest community of association executives in the world. The ASAE still supports PCAAE to this day in terms of providing technical assistance and visibility. Soon after the PCAAE came into being, Evelyn, without any hesitation,

Association World Octavio Peralta volunteered to serve as a member of its Board of Trustees. As a passionate and go-getter association leader, she was instrumental in organizing new offerings for the PCAAE, such as the certified professional association executive program (CPAE), the online community Access, and the businessto-business meeting between associations and service providers and suppliers, among others. In fact, all her staff at the PRA secretariat had completed the CPAE program which she was proud of, even having a banner poster with photos of the staff made and displayed at PRA events. Under her leadership, she transformed the PRA into a dynamic and responsive retail powerhouse. During her tenure, Evelyn has also built up the annual National Retail Conference and Expo (NRCE) into a must-attend event, not only locally, but also internationally. In 2015, the PCAAE honored Evelyn for her pioneering projects and programs at PRA and her invaluable service to the association community as PCAAE’s first “Association Executive of the Year,” a recognition she proudly attached to her email signature. Sadly, Evelyn passed on last November. But her legacy is etched in my fond memories of her and of the many others whose lives she touched one way or the other. Thank you, Evelyn, for your good heart, for your wisdom, and for your infectious smile. You will be missed. Rest in peace, Evelyn! Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” E-mail: bobby@pcaae.org.

Relationships

Friday, January 12, 2024 • Editor: Gerard S. Ramos

BusinessMirror

Of comics, comedy shows, and being Pinoy POPULAR FilipinoAmerican comedian Jo Koy was this year’s host of the Golden Globe Awards. AP

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TODAY’S HOROSCOPE By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Zayn Malik, 30; Jeff Bezos, 59; Howard Stern, 69; Issa Rae, 38; Rachael Harris, 55; Nathan Gamble, 25; Pixie Lott, 32. HAPPY BIRTHDAY: Remain calm, regardless of what’s happening around you this year. Use your intelligence and intuition to guide you through the good times and bad. Refuse to let other people’s uncertainty bring you down or stand between you and what you want to create. Be bold, do your research, and discover and implement your ideas with confidence. Don’t let others’ uncertainty or spontaneity stop you from reaching your goals. Your numbers are 6, 13, 24, 26, 31, 38, 43.

ARIES (March 21-April 19): Check the facts, set the pace and don’t stop until you achieve your goal. A problem at home mustn’t dictate how well you handle responsibilities. When in doubt, get the facts and proceed with confidence. Anger and envy will lead to loss. ★★★★★

’VE always been into comedy and comedians. As a child, I grew up with shows like The Carol Burnett Show and Rowan and Martin’s Laugh-In, and was a fan of comedians like Jerry Lewis and Don Rickles. In the late 1970s, I was an avid viewer of sitcoms like M*A*S*H (whose final season and episodes I had finally caught during the pandemic), SOAP, and in the 1980s, The Golden Girls was a favorite. Comedy series and sitcoms were just shows that everyone in the family could sit down and enjoy together. We’re just a family that likes to laugh and even at the direst and lowest depths of emotional distress, like a death of a sibling or parent, we deal with our grief with our sense of humor. Among the Filipino comedy shows and sitcoms I watched as a teen included Sic O’Cloc News (which the Marcos dictatorship allowed on the governmentowned IBC 13 to show they were cool with comedians that made fun of current events and politicians), Abangan ang Susunod ng Kabanata, Iskul Bukol, and even Chika Chika Chicks. So I’ve managed to appreciate a lot of comedy styles ranging from TVJ’s toilet humor, Don Rickles’ potshots on anyone and everyone (I just loved the celebrity roasts which featured him as a headliner), political satire courtesy of Jon Stewart (The Daily Show), dry British humor (Absolutely Fabulous), to the silly and idiotic like most stunts on Conan O’Brien’s late night show and Saturday Night Live. OK, this is a roundabout way of saying I appreciate Jo Koy. I loved his Netflix specials where he makes fun of his mom and how she would solve all childhood illness with a dose of Vicks Vaporub on his chest, on the soles of his feet which would be then be wrapped in socks, on his eyes so he could sleep; his teenage son’s supposed lack of hygiene (e.g. the latter eats bits of food unstuck from his teeth while flossing; of his Filipino-American heritage (on his dad thinking that Koy’s mom was Chinese: “Rice is rice”); and every other culture (e.g. Hawaiians and their affinity for spam, the way Japanese and Koreans speak, etc). Koy is relatable, and I was able to catch his last show in Manila (Funny is Funny), which was the first large-scale public gathering I had attended since the pandemic, and he totally brought the house down. He also professed his love for Mary Grace’s cheese rolls and joked that he had money to invest in it as he wondered why its products weren’t available in the US. (See “Jo Koy ‘shocks’ Mary Grace with shoutout” in BUSINESSMIRROR, September 2, 2022.) He was here to promote his movie Easter Sunday, featuring a mostly all-Filipino cast which included the legendary Lou Diamond Philips and Tia Carrere. Unfortunately, the movie just had too many characters that they weren’t drawn very well, with some forced bits. So it generated fewer laughs than— surprise!—the Golden Globe Awards. Seriously, I caught the show and was surprised that Koy was bashed for his hosting. With barely two weeks to prepare—let’s face it, no comedian wanted the job, and now we know why—Jo Koy’s monologue was actually funny. Not hilarious in the Tina Fey-Amy

TAURUS (April 20-May 20): You’ll face confusion if you or someone else sends mixed messages. Consider what you want and don’t lose sight of your objective. Recognize when someone is trying to use you to get ahead. Concentrate on self-improvement. ★★

GEMINI (May 21-June 20): Carefully pick out the people you choose to spend time with. Take pride in living a healthy lifestyle. Take the lead instead of following someone less likely to put themselves first. Make your destination of choice one of peace and love. ★★★★

CANCER (June 21-July 22): The more you give, the more you’ll get in return. A labor of love will make you feel good about yourself and those you work alongside. Think, and you’ll develop a prosperous plan that invites you to make a move.★★★

LEO (July 23-Aug. 22): Shoot for stability, security and a steady pace forward. Leave nothing to chance or in someone else’s hands. A broad view implemented practically will help shed light on what’s possible. Refuse to let anyone mislead or take advantage of you. ★★★

Poehler sort of way, but he did land a lot of those jokes. Robert De Niro laughed at the bit where Koy said he especially enjoyed the actor’s last performance— fathering a child at 80 years old. (If you’ve ever watched The Graham Norton Show which has De Niro as an occasional guest, you’d see that even Norton—who is a brilliant talk show host—has a way difficult time getting the actor to laugh. Even if the latter is plied with alcohol.) Koy also got the great Meryl Streep—his mom’s favorite actress—to play along and do the Wakanda Forever gesture, with arms crossed across her chest. (And why shouldn’t she be game? She did Mamma Mia to annoy her kids, Streep once said.) So the Swifties hated that bit about their idol’s cutaways at the NFL matches. Thing is, that joke wasn’t even against Taylor Swift but a diss at the NFL. (The ultimate punchline being The Globes camera cut to Taylor Swift taking a sip of her wine, with a supposed “death stare.”) Earlier hating on Koy, some Swifties are now trying to walk back their OA reaction by saying their idol was actually playing along with the joke. Sige na nga. I admit that the comedian’s reference to the Barbie movie (based “on a plastic doll with big boobies”) fell flat, because it did try to overcome the stereotype of women and their place in society. Maybe Koy did miss the movie’s point, but if you only had 10 days to watch all the movies in running for The Globes, you might miss it, too. The only thing that mildly annoyed me was how Koy kept on saying sorry when his jokes bombed. In contrast, this is why Ricky Gervais was such a successful host despite his acerbic wit and his disses versus the Hollywood celebs—he just didn’t care what they thought. And oh, yes, they hated Gervais, too. He knew these celebs just take themselves too seriously and it was hilarious how Gervais knocked them down a few pegs lower with his riffs. And that is the

tough crowd Koy had to deal with as well. (Ironically, Gervais won a Globe for Best Stand-up Special for his show Armageddon.) What’s unfortunate is a lot of Filipinos, even those who haven’t actually watched The Globes, have ganged up on Jo Koy after reading the foreign news reports and opinion pieces criticizing his performance. (Because of course, foreign commentators can’t be wrong! They are the best thinkers and all-so-knowing! Ugh.) The thing with us Pinoys, we’re so quick to claim successful foreigners with even just 1/1000th of Filipino blood as our own, but are first in line to whip them when they fall short of our expectations. (Admit it, you thought Carrere was untalented until you found out she was partly Filipino.) Sure, I didn’t like Koy’s Easter Sunday, but I still found it amazing that we got to see a lot of Filipinos on a Hollywood movie produced by no less than Steven Spielberg. Similarly, I wish that other Filipinos view Koy’s hosting of The Globes as another achievement for our culture. Not every Pinoy has been given the opportunity to do this, and by far Koy has done more to promote our heritage and the Philippines than any Goodwill Ambassador for Tourism we currently have. If there’s anything that Koy is guilty of, is that he was too eager to represent us. And despite this brief low point in his career, as fellow comic Kevin Hart says, Jo Koy will continue to sell out stadiums and arenas. For sure, he will use this Globes’ experience as material for his future shows, as many comedians often pick out stuff from their lives and amplify them to get laughs. From this, he will learn to further polish his jokes and hopefully be unapologetic about them. If he gets offered to host The Globes again, by all means Koy should take it. But maybe demand that he gets more time to prepare for the gig. ■

VIRGO (Aug. 23-Sept. 22): Haste makes waste. Implement discipline and pay attention to detail. Don’t overlook something that can make a difference in the outcome of a matter that can influence your income. Do things right the first time. ★★★

LIBRA (Sept. 23-Oct. 22): A call for help will put you in good company. Do your best and make a difference, and good things will transpire. Look for an opportunity, and you’ll regain momentum and initiate a friendship with someone who can help you advance. ★★★★

SCORPIO (Oct. 23-Nov. 21): Go over every detail before agreeing on something based on emotions. A change may appear to be your only option, but if you view your situation from a distance, you’ll find a solution that saves you time and money. ★★

SAGITTARIUS (Nov. 22-Dec. 21): There is money to be made if you are diligent about doing what you do best and marketing what you have to offer. Putting more time and effort into your surroundings will make it easier to work from home. ★★★★★

CAPRICORN (Dec. 22-Jan. 19): A change will bring you peace of mind, but it may not please everyone. Refuse to let someone use emotional manipulation to sway your opinion. You must go with your gut and do what’s best for you. ★★★

AQUARIUS (Jan. 20-Feb. 18): Two unique options you receive will lead to temptation. When in doubt, sit tight and wait for a sign that indicates what to do next. Time is on your side and will allow you to recognize what’s in your best interest. Opportunity knocks. ★★★

PISCES (Feb. 19-March 20): Don’t take on more than you can handle or let temptation lead the way. Pace yourself and focus on self-improvement. Keep your life simple. Make physical strength and good health your objectives. Romance is encouraged. ★★★ BIRTHDAY BABY: You are dramatic, playful and precise. You are dedicated and persistent.

‘prime location’ BY FREDDIE CHENG

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson ACROSS 1 Races, or rips 6 Ticket remnant 10 Slightly wet 14 In the lead 15 Grimm beast 16 One of five Great Lakes 17 One of five in a Christmas song 19 Verdi opera set in Egypt 20 Initials before an alias 21 “Just kidding!” 22 Elongated French pastry 24 Bro kin 25 J’adore perfume maker 27 “Pronto!” 28 Ability of note? 33 Word before “class” or “crust” 36 Encyclopedia part: Abbr. 37 Ancient “you” 38 Assembles around 41 Fitting nicely together 43 Work done on ingredients, for short 44 Nickname for Copacabana’s city 46 Parts of a fork

47 Highest legal body in America 51 Mined stuff 52 See-___ (transparent, informally) 53 Wood splitter 56 ___ horse (“Aeneid” gift) 59 Aries, in the zodiac 60 Pic on the body 61 Where honey is housed 62 Perfect partner, or a sporting event at 17-, 28- or 47-Across? 66 Crude grp.? 67 Mother’s sister, maybe 68 Jet set 69 Rock musical set in the East Village 70 Shows agreement 71 Inside look? DOWN 1 Frat party garments 2 Small-capped mushroom in Japanese cuisine 3 Map collection 4 Word after “hot” or “lightning” 5 Big-time shoppers 6 In a sense

7 Letters before “Friday’s” 8 Large coffee holder 9 “Go easy” 10 “Handle the situation!” 11 “Carmen” solo 12 Calf-length skirt 13 Fruit that may be poached 18 Pinot ___ 23 Squad car driver 26 Race, as an engine 28 Favorite thing to work on 29 Dot follower, in many URLs 30 Like crepes or dimes 31 Funnel’s shape 32 The O’s in XOXO 33 MLB officials 34 Paddington Bear’s country of origin 35 “Not a ___ out of you!” 39 Yerevan citizen 40 No-win situation? 42 Played chords on a guitar, say 45 Halloween’s mo. 48 Particular time span 49 “Aw, heck!”

50 Range separating Europe and Asia 53 Loft space 54 Utility knife brand 55 Disappear into the ___ 56 Marvel’s hammer thrower 57 Ready for picking 58 Kiln, for one 63 Smallest team 64 The last word, in many cases 65 Pub brew Solution to today’s puzzle:

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Show BusinessMirror

Editor: Gerard S. Ramos • Friday, January 12, 2024

Even Andrew Scott was startled by his vulnerability in ‘All of Us Strangers’

BY JAKE COYLE The Associated Press

EW YORK—On a recent winter day in New York when the sun was shining, Andrew Scott rushed into a coffee shop between recording sessions for an upcoming series. “I’m scheduled tighter than a teenage pop star,” he said, beaming. The interview had been postponed once, and the location was switched at the last minute to save Scott some time in traffic. But he sat down fully engaged and eager to start talking. Immediately, though, a passerby tapped on the storefront glass and asked for a photo. Scott, without a grumble, sprinted out to oblige, even though the gesture seemed more like a command (“You’re under arrest,” joked Scott) than a polite request. Scott, the 47-year-old Irish actor, is in demand like never before. That’s partly due to accrued good will. A regular presence on stage in the West End, Scott is known to many as the “Hot Priest” of Fleabag or the cunning Moriarty of Sherlock. Soon, he’ll play Tom Ripley in the Netflix series Ripley, adapted from the Patricia Highsmith novel. But the real reason Scott’s time is short right now is Andrew Haigh’s new film, All of Us Strangers. In it, Scott plays a screenwriter working on a script about his childhood. The film is gently poised in a metaphysical realm; when Adam (Scott) returns to his childhood home, he finds his parents (Claire Foy, Jamie Bell) as they were before they died many years earlier. At the same time, the movie, loosely adapted from Taichi Yamada’s 1987 book Strangers, balances a budding romance with a neighbor (Paul Mescal), a relationship that unfolds with profound reverberations of family, intimacy and queer life. In a dreamy, longing ghost story, Scott is its aching, shimmering soul. “The challenge of it was to try to go to that place but not gild the lily too much,” Scott says. “As an actor, I have to be in touch with that playful side of myself and that part of you that’s childish. I was actually quite struck by how vulnerable I looked in the film.” Scott’s acutely tender performance has made him a contender for the Academy Awards. He was named best actor by the National Society of Film Critics. At the Golden Globes on Sunday (Scott wore a white tux and t-shirt), he was nominated for best actor in a drama. Scott has long admired actors like Anthony Hopkins, Judi Dench and Meryl Streep— performers with a sense of humor who, he says, “are able to understand what you feel and what you present.” Scott, too, is often funny on screen (see Lena Dunham’s medieval romp Catherine Called Birdy).

And even in quiet moments, he seems to be buzzing inside at some discreet frequency. Something is always going on under the surface. He’s been acting since he was young; drama classes were initially a way to get over shyness. Scott’s first film role came at age 17. He has often spoken about seeking to maintain a childlike perspective in acting. In that way, All of Us Strangers is particularly fitting. On Adam’s trips home, he sort of morphs back into the child he was. In one scene, he wears his old pajamas and crawls into bed with his parents. “So many of the things that are required of you as an actor are a sense of humor and some ability to be able to put yourself in a situation. Because it’s all down to imagination,” says Scott. “For me, that’s the thing you need to keep. That’s the thing—because I started out when I was young—I don’t want to move too far away from. Like when kids go, ‘OK, you be this and I’ll be this.’ That ability doesn’t leave us. What does leave

us is a lack of self-consciousness. Our job is to hold on to that.” Haigh, the British filmmaker of 45 Years and Weekend, began thinking of Scott for the role early on. They met and talked through the script for a few hours. “He’s a similar generation to me. He’s a tiny bit younger than me, but he’s from the same generation,” says Haigh. “He understands that experience.” Scott came out publicly in 2013, but his natural inclination is to be private. “I feel like I’ve given so much of myself in the film, you think you don’t want to give it all away,” he says. He describes All of Us Strangers—which Haigh shot partly in his childhood home—as personal, but not autobiographical in its depiction of the alienation that can linger after coming out. “Mercifully, I feel very comfortable for the most part. But it stays with you that pain, and it actually makes you more compassionate, I think. Because we

‘Fool Me Once’: Delightfully foolish and fun

I HAVE seen this before in the form of a feature film: a wind-swept day in some manor ground, a funeral as elegant as it is gothic, and stellar faces looking down on the newly dug grave. Then the scene shifts to a dark street where shots ring in the night, a man falls down on the ground, and a lovely svelte woman comes to the bloodied body, trying to help the man. One is not sure where this film—a limited series— is going but if you stay, as I did, you get rewarded by the most scenic, production-designed images on the screen and the most attractive actors this side of the moon. As I have said, this kind of filmmaking reminds me so much of those English detective stories, the whodunit, less grittier, less grimmer than their 1980s and 1990s reincarnation in America. Welcome to the 2024 eight-part TV series made for Netflix, titled Fool Me Once. The plot is old but rendered with a lot of glamor and charm, with Michelle Keegan in the lead as Maya Stern. Married to a financial aristocrat, she opted to work for the Army, citing among other things her love for combat and the adrenaline rush that comes with such a domain. Svelte and breathtakingly beautiful, one cannot imagine she can put down any big, burly man if the situation warrants it. But her husband gets murdered and there is no lead at all as to who is the man or group behind it. Richard Armitage is Joe Burkett, the husband to Maya. He gets murdered in the first few minutes of the first episode but that is not crucial in the sense of a spoiler, for he “reappears” again and that is the catch in the opening salvo of the series. Armitage, of course,

is this actor I can only describe as regal in bearing. He was the dwarf king and leader, Thorin, in the trilogy adaptation of The Hobbit. What is a thriller (oh this is so 1970s) without a detective. To fill in those shoes, Adeel Akhtar, is the perfect foil to all the good looks and clean, white collars. Born to a Pakistani father and a Kenyan mother, he is the representative multi-ethnic man on British soil. He is Sami: with one eye almost halfclosed, he is a character. He has this habit of losing his consciousness and finding himself in the oddest situation. One day, he swerves quickly and hits a fence because, once more, he avoids a cat that appears suddenly. Another day, he is on the floor, his cereal bits all scattered after the bowl that contains them lies broken beside him, the milk all spilled on the side of a kitchen table. Nervous but quick-witted, he surprises (or maybe not) with his intelligent and unusual reading of the evidence for the murder. To add to his magic, he is on the verge of making a radical change in his life—he is soon getting married. Adeel Akhtar is the compleat character actor, with a British Academy Television Award for Best Actor in the 2017 film Murdered My Father. As if all the glam and glitter these actors provide are not enough, there is the usual grand matriarch role, and Joanna Lumley has been conscripted to provide a luxurious armor of a presence in this caper. Lumley is a real, official Dame and fulfills several functions in real life. In this series, she is a joy to behold as a woman of old money, who remains a stickler for protocol not for efficiency but for class distinction. She threatens to steal the scene sometimes from Maya and the rest of the cast, with the director giving her much to chew on the screen. One other thing going for this show is that there is not much convolution in the narrative. The story is held tight by what we appraise as the first murder, only to realize that there was a real first murder. In other words, Maya has lost two people dear and close to her heart. The ballistic investigation reveals something and the two murders are seen in a new light. All that happens in the first episode, which

makes it a given for us to go to the second and the third episode, and so on. Fool Me Once is an adaptation from the 2016 novel of the same name, penned by Harlan Coben. While the novel is set in the US, the film has been transplanted across the pond, in England. This gives the filmmaker a chance to bring us to those old homes and castles, drive us through lovely meadows (a short car chase benefits from the pastoral landscape), and well-dressed policemen. To add to the old-fashioned storytelling, Abby and Daniel, the daughter and son of the murdered sister of Maya, have gotten hold of an old camera and have brought the film inside to be developed. After being processed, the two children discover something about their mother. This leads to the other episodes. Is there connection to the two murders? Fool Me Once is now available for streaming on Netflix. ■

JASMINE CURTIS-SMITH (right) and Rayver Cruz

shot in Andrew’s childhood home, that sort of threw down the gauntlet in relation to how much of his own personality he was giving,” says Scott. “I wanted it to be sort of unadorned, unarmored and raw. That’s why I think there’s such tenderness in the film.” Scott has sometimes recoiled from how sexuality is talked about the media and in Hollywood. He recently said the phrase “openly gay” should be done away with. As of late December, Scott hadn’t yet watched All of Us Strangers with his parents, though he planned to. “The best way to express it is to say I’ll be very sensitive to how they watch it and how they feel about it, and how it makes me feel them watching it,” Scott says. The tenderness in the film is also owed in part to Scott’s chemistry with Mescal. On-screen chemistry is an amorphous quality that the film industry has long tried to turn into a science with camera tests and marketing that flirts with real-life romance. But for Scott, it’s something different. He and Phoebe Waller-Bridge had chemistry, overwhelmingly, in Fleabag, but that didn’t have anything to do with sexual attraction. Pinpointing that quality is something Scott pondered during Simon Stephens and Sam Yates’ recent staging of Chekhov’s Uncle Vanya at the National Theater. Scott played all eight roles, meaning he essentially had to have chemistry with himself. “Chemistry isn’t just about sexual chemistry. It’s something to do with listening, and I think it’s something to do with playfulness,” Scott says. “Your ability to listen to someone and take note of what someone is doing is chemistry. You have to wait and see what the other actor is doing.” A few moments later, Scott will have to rush out just as quickly as he arrived. But before that, he leaned back, naturally lit by the winter sun, and pondered whether All of Us Strangers, in the nakedness of his performance, had taken him somewhere he hadn’t before been as an actor. “Yeah, I think so,” said Scott. “Or else to return to something that perhaps I’ve been before.” ■

GMA UNVEILS INTENSE DRAMA OF TWO WIVES IN ‘ASAWA NG ASAWA KO’

BEGINNING Monday, January 15, GMA Network brings a story about the things people fight for, especially love, family, and freedom. Asawa ng Asawa Ko centers on a war between two wives who will do everything to protect what is theirs. Bannering the series and teaming up for the first time are Jasmine Curtis-Smith as Cristy and Rayver Cruz as Jordan. Spicing up the soap are Sparkle’s Martin del Rosario as Jeff and Liezel Lopez as Shaira, together with Joem Bascon as Leon. Witness the love story of Cristy and Jordan, who stick together against the world. They live a simple and happy life with their only daughter. However, their family starts to fall apart when Cristy gets abducted by the rebel group Kalasag. Left with no trace of Cristy, Jordan receives news about the death of his wife. Devastated with this loss, Jordan finds comfort in the arms of his friend, Shaira. Soon, Jordan marries her and together, they will rebuild a beautiful family. Fate seems to be in favor of them until Cristy is finally able to escape from her kidnappers. She returns to the lives of her husband and child. But to her surprise, Jordan and Shaira are now husband and wife. Who truly deserves to be with Jordan— the first wife who fought for her freedom to be with her loved ones again? Or the second wife who was beside Jordan during his darkest nights? Also in the cast are Kim De Leon, Bruce Roeland, Luis Hontiveros, Patricia Coma, Jennifer Maravilla, Billie Hakenson, Ian Ignacio, and Mariz Ricketts. Completing the cast are Crystal Paras, Quinn Carillo, and the multiawarded Gina Alajar. The drama is produced by GMA Entertainment Group, headed by senior vice president Lilybeth G. Rasonable. Under the helm of esteemed director Laurice Guillen, Asawa ng Asawa Ko airs Mondays to Thursdays at 9:35 pm on GMA. More information is available at www. gmanetwork.com.

Friday, January 12, 2024

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MARINA PLANS, PROGRAMS HIGHLIGHTED DURING MARITIME LEAGUE OFFICE VISIT

ARINA Administrator Sonia Malaluan highlighted the plans and programs under her new leadership during the courtesy call of the Maritime League at the MARINA Central Office, Port Area, Manila on January 8, 2024. The administrator encouraged the Maritime League to conduct more discussions on important matters related to Philippine maritime industry. Malaluan emphasized that MARINA and the Maritime League share the same objectives, including the safety of life at sea, sustainability of marine environment, welfare and employability of seafarers and creation of more jobs for the Filipinos.

During the meeting, the continuous increase in the number of maritime incidents/accidents in the country was also discussed. Prior to this, the Administrator declared that safety is non-negotiable and is one of the important issues that her leadership will focus on. Part of the 10-point agenda of the MARINA is the enhancement of maritime safety addressing the causes of maritime incidents/accidents.

The administrator also talked about the digitalization of the Agency’s frontline services nationwide which is also one of the 10-point agenda that will reduce the processing time and lessen opportunity for corruption. Maritime League Chairman / President VADM Eduardo Ma. R. Santos assured MARINA of their continuous support especially in its objectives on maintaining clean waters, marine environment protection and blue economy. He also led the oath taking of the Administrator as honorary member of the Maritime League. Further, Malaluan expressed her interest to conduct one big maritime exhibition only in the country. Over the years, the MARINA has been supportive of different expo in the maritime industry including the Blue Economy Annual Trade and Conference (BEACON) which is organized by the Maritime League.

Furniture makers eye up to 20% sales growth in 2024

URNITURE makers in the country are eyeing a 15 to 20 percent growth in sales this year as they continue innovating to serve demand in the overseas markets and to remain competitive. “I am very hopeful (about growth) because buyers are coming in again, they come to visit (the country),” said Myrna Bituin, Philippine Exporters Confederation Inc. (PHILEXPORT) trustee for the furniture sector. Bituin said the United States, the country’s largest buyer, has been working with Philippine manufacturers on product development.

“Product development is very important because you need new products to sustain and they are now starting to come and start product development,” she said. She added other existing markets are the United Kingdom and Arabian countries, including Dubai. Bituin said designers are catching up with new trends while entrepreneurs need to be updated like colors for furniture finishing. “So being an exporter is a continuing education for you on the market that you want to touch,” she said, adding that the needs of buyers vary.

BOOSTING AGRIPRENEURSHIP: Go Negosyo founder Joey Concepcion and

Senior Adviser Dr. William Dar join (at left) Cooperative Development Authority (CDA) Administrator AsecMyrla B. Paradillo and CDA Chair Usec Joseph B. Encabo at the signing of a Memorandum of Understanding last January 4, 2024. The MOU aims to support and implement the objectives of the Kapatid Angat Lahat Agri Program (KALAP) for the benefit of the cooperatives sector in the Philippines.

Concepcion inks MOU with CDA to boost agripreneurship In coops

PARTNERSHIP that will link agriculture cooperatives with the country’s leading agri companies will soon give small farmers a better chance at scaling up. The Memorandum of Understand ing , signed between Go Negosyo and the Cooperative Development Authority (CDA), aims to identify and organize cooperatives, which will then be assisted by big-brother companies in consolidating their produce, meeting market requirements, as well as accessing credit, inputs and training. The MOU was signed last January 4, 2024, creating a strategic partnership that would support and implement the objectives of the Kapatid Angat Lahat Agri Program (KALAP) for the benefit of the cooperatives sector in the Philippines. Signing for Go Negosyo was its founder, Joey Concepcion, and for the CDA was its chair, Usec. Joseph Encabo.

The MOU aims to improve collaboration between cooperatives and the private sector, and promotes a valuechain approach through public-private partnerships. “The bottom line is poverty alleviation, and many of the poor are in the agriculture sector. Unless we fix that, we will never solve the problem of poverty,” said Concepcion. Go Negosyo organized KALAP to establish strategic partnerships between the government and the private sector. Under the program, small farmers are integrated into the value chain of big-brother companies, giving them access to mentoring, markets and capital. “There are several different inclusive business models that our big brothers in KALAP have already implemented; the cooperatives can adapt the models suited to their crop and forge a relationship with the big-brother corporations, such as helping them get

“There are buyers that are there for the new look but they will always look at the past.” To boost sales growth, Bituin said more industry players will participate in exhibitions for the international market, including the Imm Cologne furniture fair in Cologne, Germany. “(This) is good, which means buyers are coming back,” she said in a mix of English and Filipino. “Your presence in the market is important so you can have regular buyers and you can look for new buyers (in the exhibitions).” access to technologies and markets,” said Concepcion. “The partnership with the CDA will help us identify the cooperatives who are willing to be part of KALAP,” he said. Go Negosyo is a non-profit organization that advocates for MSMEs in the Philippines, while the CDA is the lead government agency for all types of cooperatives. KALAP, meanwhile, was formalized in 2023 through several MOUs with government agencies. Its ranks have now grown to 50 bigbrother companies. The principles of KALAP also became the basis for several MOUs with the ASEAN Business Advisory Council of the ten memberstates of the ASEAN. For his part, CDA Chairman Encabo called the MOU “timely” as President Ferdinand Marcos Jr. has been spearheading efforts to strengthen Philippine cooperatives and has called on the country’s cooperative movement to start the consolidation process for local farmers’ cooperatives associations. “As we implement the merger consolidation focusing on agriculture cooperatives, the program can directly infuse to them and roll out as they make [cooperatives’] resources bigger, expand their membership, and add to their assets,” said Encabo. Much hope has been placed on the revitalization of the Philippines’s agriculture sector. Raising productivity here is seen to generate additional jobs and stimulate economic activity, especially in the provinces. The World Bank estimates that around 43 percent of the country’s land area is agricultural; the sector accounts for around 24 percent of local employment. With the Philippines still considered a lower-middle-income economy, increasing the productivity of agriculture, along withthe manufacturing sector, is seen as key to raising the country to middle-income status, a goal that is outlined in the 20232028 Philippine Development Plan, the country›s road map for socioeconomic progress in the medium term.

Meralco units partner for educational programs and environmental stewardship initiatives

N their shared commitment to promote sustainability, Manila Electric Compa ny ’s (Mera lco) loc a l ret a i l electricity supplier, MPower, and social development arm, One Meralco Foundation (OMF), have once again collaborated for programs that aim to empower and build a sustainable future. MPower and OMF signed a Deed of Donation amounting to P1.5 million for the provision of printing equipment, hygiene supplies, reusable water bottles, and school kits to seven selected schools in Metro Manila, Rizal, Laguna, Pampanga, and Zambales, benefiting over 15,000 elementary students. The two units have been working together since 2015 on the annual back-toschool program. Along with other partners, MPower and OMF have conducted school electrification programs in offgrid locations, built nine kinder classrooms, and conducted back-to-school programs. The recent concerted effort brings MPower’s cumulative donations for the program to Php14.1 million, including contributions from its donor partners over the past eight years. The latest collaboration also covered funding for CommuniTrees, MPower’s community tree planting program, which has been in partnership since 2015 with OMF’s One For Trees program. To date, MPower has successfully planted 12,853 trees in various sites in Luzon, including the 1,000 native seedlings that were planted in Laguna in April 2023. MPower First Vice President and Head Redel M. Domingo underscored that their collaboration with OMF is rooted in their shared pursuit of building a

more sustainable and brighter future for Filipinos. “MPower has always looked for opportunities to give back to our communities. Teaming up with OMF has allowed us to make meaningful partnerships with our customers which have achieved synergistic outcomes that benefit schools, communities, and the environment. We thank OMF for being an avenue for us to engage in endeavors that go beyond business,” Domingo said. For his part, OMF President and Meralco Chief Corporate Social Responsibility Officer Jeffrey O. Tarayao recognized the transformative impact of their collaboration with MPower on the Kinder Classroom Project, which has benefited over 4,000 students from five school beneficiaries in Malabon, Bulacan, Laguna, and Cavite from 2015 to 2019. “One Meralco Foundation’s partnership with MPower continues to grow and prosper as we aspire to reach more communities and put a bigger investment in the future of young Filipinos. We hope that these will translate to inclusive growth and build a brighter future for young Filipinos,” Tarayao said. Meralco Senior Vice President and Chief Revenue Officer Ferdinand O. Geluz, who also sits as a Trustee of OMF, emphasized that Meralco is committed to serve its communities. “Ensuring the education of the youth and preserving the environment are key initiatives aligned with Meralco’s vision to empower people and communities today to shape a future that we can all thrive in. We yearn to witness the ripple effect that these collective efforts will have on our communities and our country,” Geluz concluded.

AFTER a year of achieving various milestones, MOVE IT honored the hard work and dedication of its rider-partners during the MOVE IT Year-End Festival

MOVE IT ends 2023 strong, honors hard work of partner community

ECOGNIZING the pivotal role of its riderpartners in the milestones it achieved in 2023, homegrown motorcycle taxi company MOVE IT celebrated the hard work and dedication of its partner community during the MOVE IT YearEnd Festival. Drawing a gathering of thousands of MOVE IT rider-partners, the celebration honored the shared successes and dedication within the MOVE IT community. “It is heartening to be able to join our thousands of loyal and hard-working rider-partners at the MOVE IT Year-End Festival 2023. MOVE IT is fulfilling its promise to provide safe, reliable, and affordable rides to commuters because our rider-partners provide unsurpassed service to their passengers. We wholeheartedly thank the Tropang Malupet. You are our inspiration to work harder to improve our service to every rider,” MOVE IT General Manager Wayne Jacinto shared. The MOVE IT Year-End Festival 2023 not only

marked a festive culmination but also served as a tribute to the milestones achieved by the company throughout the year. Delivering on its commitment to safety, reliability, honesty, and affordability, MOVE IT continues to win the trust of Filipino commuters as attested to by various independent polls and positive social media engagement. MOVE IT is also proud to have introduced programs aimed at transforming informal riders into professional moto-taxi providers. Jacinto affirms that MOVE IT will continue its consultative forum series with habal-habal leaders in 2024, while also expanding programs like the “Habal-Habal to Legal” initiative, which provides comprehensive guidance and support to habal-habal riders applying into the platform. “We promised the government to be their partner in the professionalization of habal-habal riders and we will continue with this commitment through our current programs and a few more that we are preparing to launch in 2024,” Jacinto noted.

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

Sports BusinessMirror

Friday, January 12, 2024 B7

Spoelstra and Miami: They’re family, for real M

IAMI—Erik Spoelstra was hosting a clinic in the Philippines, his mother’s homeland, this past summer while the Miami Heat coach was there as an assistant with USA Basketball for the World Cup. A few dozen kids finished the workout, then got to ask him whatever they wanted. One asked about his longevity with the Heat. Over the next few minutes, Spoelstra talked about friendships, loyalty and how fortunate he is that the Heat—the team he’s been with for almost 30 years—value stability. The latest reminder of all that came Tuesday with Miami signing Spoelstra to a history-making deal spanning eight years and worth roughly $120 million, the biggest contract in terms of total salary ever given to a National Basketball Association (NBA) coach and one that illustrates how vital the Heat believe he is to the operation.

“Pat Riley is a legend in the game,” Spoelstra told those kids in Manila, speaking of his longtime boss and the Heat president. “And he believes in loyalty. I probably would have been fired a few times with another organization. So, I’m very grateful for that. We’ve tried to build a culture of family and a culture where we trust each other, where we’re sacrificing for each other and where we’re serving each other.” The formula obviously works. Spoelstra guided Heat teams to the playoffs in 12 of his first 15 seasons as coach, getting to the NBA Finals six times—including last season— and winning championships in 2012 and 2013 with teams led by LeBron James, Dwyane Wade and Chris Bosh. “In this business, you also just want to work with great people that are well-intentioned,” Spoelstra said Wednesday. “There’s going to be ups and downs in this business. We enjoy the process of trying to do special things. But we enjoy being around each other. And we’ve had some tough times and tough years and that’s when we’ve really rallied around each other the most. I grew up in the NBA business so I understand how unique that is. And that’s why I feel a great responsibility to be a caretaker for this culture, now and moving forward.” Only San Antonio and Boston have won more regular-season games than Miami since Spoelstra took over for Riley in 2008, and no team in that span has won more playoff games. Spoelstra is 19th all-time in regularseason victories (725 entering Wednesday) and fifth in playoff victories (109, not counting a play-in tournament game win last season as well). He’ll be an assistant on Steve Kerr’s USA Basketball staff that will try to win Olympic gold in Paris this summer and is widely expected to be a top candidate when it’s time for the Americans to pick a head coach for

the 2028 Los Angeles Games. “Worth Every Single Cent of that contract!!!” James tweeted on Tuesday. Wade offered a similar sentiment: “Spo!!!!!!!!! Earned!” he wrote, with eight moneybag emojis in there as well. Spoelstra’s contract was ending after this season, which isn’t a good sign in most places. But in Miami, that doesn’t mean anything. Contracts for coaches and executives within the organization are hardly ever announced; it’s just assumed that everybody stays put year after year. The names atop the staff directory have barely changed since 1995, and in some cases since the team’s inception in 1988. Micky Arison is managing general partner, son Nick Arison is CEO, Riley is president, Andy Elisburg is general manager, Adam Simon is assistant general manager. Elisburg has been there since the first season, along with broadcasters Eric Reid and José Pañeda, team ambassador (and former assistant coach and broadcaster) Tony Fiorentino, chief financial officer Sammy Schulman and vice president of marketing Jeff Craney. Spoelstra—whose father, Jon Spoelstra, was an NBA executive with Portland, Denver and New Jersey— was a standout high school guard in Oregon, then played at the University of Portland, where he was the West Coast Conference’s freshman of the year. After college, he spent two years playing professionally in Germany, before the Heat called with their offer

Basketball, jiu-jitsu federations named as PSA NSAs of the Year

AL PANLILIO and the basketball federation are deserving of the award.

N the year of many “firsts” for Philippine sports, two national federations stood out—the Samahang Basketbol ng Pilipinas (SBP) and Jiu Jitsu Federation of the Philippines (JFP). The SBP and JFP provided two of

the Filipino athletes’ shining moments on the international stage—including historic feats in the 19th Asian Games in Hangzhou, China. On January 29 at the grand ballroom of the Diamond Hotel, the SBP and JFP will be hailed as National Sports Associations (NSAs) of the Year in the San Miguel Corp.Philippine Sportswriters Association (SMC-PSA) Awards Night. The SBP, headed by Al Panlilio, received the award several times in the past, while it will be the first for JFP, led by Ferdinand Agustin, to be recognized with the prestigious honor given out by the country’s oldest media organization under its president, Nelson Beltran, sports editor of The Philippine Star. The blue-ribbon event is presented by ArenaPlus, the leading sports entertainment gateway in the Philippines, together with the

Philippine Sports Commission, Philippine Olympic Committee, Milo, Cignal and PLDT/Smart as major sponsors. The 7 p.m. gala is also backed by 1-Pacman Partylist Rep. Mikee Romero, Rain or Shine, Premier Volleyball League and the Philippine Basketball Association. The SBP led the country’s successful co-hosting of the FIBA World Cup, which the country staged for the first time after 45 years. Gilas Pilipinas ended 61 years of waiting when it finally bagged the long-cherished gold in the Asiad, highlighted by its dramatic 77-76 come-from-behind victory over host and defending champion China in the semifinals and an 80-70 beating of Jordan in the final The men’s team also successfully regained the basketball gold in the Southeast Asian Games by holding off

The 2021 champion’s impressive performance put her four shots ahead of Malixi, who pooled a 216 in a tie with Prashanth and Ito, who skied to 77 and 78, respectively, while Aina Fujimoto, also from Japan, fired a 70 to join Aussie Amelia Harris, who matched par 73, at 217. Malixi initially took command of the stellar field with a big bounceback from a bogey-bogey start, birdying Nos. 3 and 7 to salvage a 36. She then eagled the par-5 10th for the second time in three days to storm ahead by two. But she failed to get up-and-down on the par-3 No. 12 then lost strokes on Nos. 14 and 15 to slip off the leaderboard. Despite a birdie on the 17th, the

International Container Terminal Services Inc.-backed ace holed out with another bogey to end up with a one-over card for an overall threeunder total. In contrast, Higo sustained her fightback from mishaps on Nos. 3 and 4 with birdies on Nos. 7, 8, 10, 13 and 16. She then held sway in the last two holes, securing a big cushion heading to the last 18 holes of one of the host country’s premier championships. Ito, who flashed top form in the first two rounds to lead, bogeyed three of the first three holes, dropped another shot on No. 6 before holing out with a triple-bogey 7 on No. 13. She rallied with birdies on two of the last four holes to save a 40-38.

By Josef Ramos

The Golden State Warriors’ Draymond Green hugs teammate Jonathan Kuminga as the team is introduced before taking on the New Orleans Pelicans in their National Basketball Association game on Wednesday in San Francisco. The Warriors are booed by their home fans in a lackluster 141-105 defeat. AP

MIAMI recently signs Erik Spoelstra to a historymaking deal spanning eight years and worth roughly $120 million. AP to work at the lowest rung of the organization. He was 24 then. He’s 53 now, his well-chronicled path starting in the video room (Riley didn’t know his name at first) to scout to assistant coach to head coach to champion and, surely, a Hall of Famer one day. Jon Spoelstra told his son long ago to not leave the Heat, and the eight-year deal is just another sign of Miami’s stability. “He’s precise in what he wants and how he’s going to go about doing it,” said Orlando coach Jamahl Mosley, who has known Spoelstra for decades and worked with him in recent years with USA Basketball. “The way in which he develops guys, the chemistry that he creates in that culture over there, is at a high level.

a Cambodia side heavily laden with naturalized players, 80-69, in the championship game. In between, Gilas also earned one of three Asian berths for the qualifying tournament of the 2024 Paris Olympics. JFP also made history in the just concluded year by winning not just one but two Asian Games gold medals courtesy of Margarita “Meggie” Ochoa and Annie Ramirez. Those two golds reciprocated the same output the women’s golf team of Yuka Saso, Bianca Pagdanganan and Lois Kaye Go won in the 2018 in Jakarta. They were also a breakthrough for jiu-jitsu in the continental showpiece. During the World Combat Games in Riyadh, the sport accounted for one of the three golds won by the country through Kaila Napolis. And in a victory that warmed the hearts, young prodigy Aielle Aguilar repeated as world champion with her triumph in the Girls Kids 2 White Belt 17-kg category of the Abu Dhabi World Festival Jiu-jitsu Championships in the UAE.

Malixi third-round fight back falls short IANNE MALIXI battled back from four shots down with a determined frontside rebound but blew a two-stroke lead with a faltering finish to hobble with a oneover 74 and slide to joint second after three rounds of the Australian Master of the Amateurs Championship in Melbourne Thursday. Local standout Lion Higo seized the opportunity, cashing in on the shaky starts of flightmates and erstwhile frontrunners Nika Ito from Japan and India’s Avani Prashanth, along with Malixi’s stretch-run stumble in a group ahead. She surged ahead with a series of birdies, producing a 70 and establishing a 54hole total of seven-under 212 at the par-73 Southern Golf Club.

Obiena starts warming up in indoor tilt

RIANNE MALIXI is putting up a good fight.

And the thing that has stood out to me the most is that the stability that he has with that organization, and the support and the trust that he has from top to bottom—and not just with the players. I think that goes such a long way.” Spoelstra starts each day with some quiet meditation, then ends each day by jotting a few notes in a gratitude journal. There’s much to be grateful for, he’s found, and much of it goes back to the loyalty that is part of the Heat organizational fabric. Not bad for a guy who, in his own words, didn’t know much of anything when he got that video room job in 1995. “If you talk about stability, every franchise in pro sports throws those kinds of terms—stability and family, consistency, continuity—everybody throws that out there,” Spoelstra said. “But very few actually execute it.” AP

RNEST JOHN “EJ” OBIENA will open his indoor season campaign in a warmup tournament next weekend before shifting his focus on the world indoor championships in Scotland in March. Obiena and coach Vitaly Petrov momentarily left their base in Formia for Padua also in Italy to level up his training regimen. “We just arrived here in Padua after a brief training in Formia,” Obiena told BusinessMirror on Thursday. “Training continues to go on and on.” He didn’t say the name of the tournament he’ll be competing in on January 20 but suggested it will be a warmup for the World Indoor Athletics Championships from March 1 to 3 in Glasgow. His personal adviser and confidante, Jim Lafferty, said the short indoor season is ideal for the Paris Olympics-bound pole vaulter. “He’s not focused on indoor. It’s two competitions and back to outdoors for the Olympics,” Lafferty said. “We don’t care about indoors including the worlds, but yes, he will be there plus—one to two warmup indoor meets. The day after Glasgow, he is back to outdoors.” With a hectic pre-Olympic program, Obiena couldn’t fly home to personally receive his Athlete of the Year trophy during the Philippine Sportswriters Association Annual Awards on January 29 at the Diamond Hotel in Manila.

Financial might of Asia’s west soccer squads poses challenge to east teams

EOUL, South Korea—The financial strength and spending of Saudi Arabia, United Arab Emirates (UAE) and Qatar has changed the soccer landscape in Asia but long-time eastern powerhouses Japan and South Korea are determined to redress the continental balance on field. The Asian Cup starts Friday in Qatar, where 24 teams from the west, east and central zones have been divided into six groups. Japan, Asia’s top team in FIFA’s global rankings, has won its last 10 games and is favorite to clinch the Asian title for a fifth time. Three-time winner Saudi Arabia has European Championship winning coach Roberto Mancini at the helm. And there’s more pressure than usual on the “Green Falcons” this tournament because of the heightened attention on the Saudi domestic club scene since the signings of Cristiano Ronaldo, Neymar and Karim Benzema. The imported stars have helped the development of national team players for Saudi. For the likes of Japan and South Korea, being able to recall players from big European clubs is an advantage in continental championships, and it helps breed confidence. “I’ve been saying we’ll look to win the Asian Cup after setting our short- and mid-term targets, as well as the long-term target that is the 2026 World Cup,” Japan coach Hajime Moriyasu said. Moriyasu was in charge when Japan lost the final of the 2019 tournament against Qatar which stepped in to stage this edition after China relinquished hosting duties in 2022. “There are no easy opponents nor is it an easy tournament, so no

changes there from the last to this one,” he added. “The difference is I have lingering frustration from missing the title last time out.” South Korea and Tottenham captain Son Heung-min arrives in Qatar in great form, scoring 12 goals so far this English Premier League season, just two more than compatriot Hwang Hee-chan at Wolverhampton Wanderers. Bayern Munich’s Kim Min-jae became the first Asian defender to be nominated for the FIFA Ballon D’Or in 2023. With such talent, South Korea coach Jurgen Klinsmann is confident of being one of the 16 teams that progress to the knockout stage. “I have a good feeling because they’re doing well at their clubs,” Klinsmann said. “They’re healthy, they’re fit, they’re ambitious and they’re very hungry.” South Korea last won the Asian Cup in 1960, defeating South Vietnam and Israel along the way. “It’s 64 years—64 years is a long time for Korea. It’s about time that we get this done,” added Klinsmann, who led the United States to the 2013 Gold Cup and is aiming to join a select group of coaches to win two different continental championships. Roberto Mancini also has that chance after leaving European titleholder Italy to take over three-time winner Saudi Arabia in August. There is more pressure on the team, which has an entirely domesticbased roster. The Saudi league “is definitely improving, as many good players are arriving, but it is not an immediate thing. It will take time for it to become truly competitive,” Mancini said. “The Saudi national team is not the favorite. There are many stronger teams than us on paper, but we will do our best.” AP

Motoring All-new Hyundai Santa Fe B8

BusinessMirror

Friday, January 12, 2024

Editor: Tet Andolong

set to debut this year S

Story & photos by Randy S. Peregrino

INCE Hyundai Motor Philippines (HMPH) took the helm as the official distributor in the country, exciting models, including all-electric vehicles, have entered the local market.

The futuristic and techy dashboard featuring the panoramic digital display

The fifth-generation Hyundai Santa Fe in new Terracotta Orange color

The new 2.5-liter Smartstream T-GDi (turbocharged) gasoline engine replaced the old turbodiesel engine

However, it did not end there. Last December, the Korean automaker made a surprise preview of their upcoming fifth-generation Santa Fe. According to HMP, the all-new model is set to debut locally in the first quarter of 2024. Several specifications, including pricing, are still under wraps. So far, two units sporting fresh color shades have been presented to the media during the preview – in Ocado Green and Terracotta Orange. At a glance, the most notable was the new radical, boxy, and retro-style exterior design. Another notable element is the “H-shaped” design everywhere, like the headlamps, taillights, and front bumper. The front grill has a light bar in the center, crossing the entire width. All dark panels, including the claddings, have the same glossy

finish. It complements the angular wheel arcs. It also matches the new 21-inch dark polished multi-spoke alloy wheels. Interestingly, Hyundai integrated C-pillar grab handles on both sides to the design for easy access to the roof with railings. As for the rear end, the tail lamps were relocated beneath the tailgate, on top of the rear bumper. The SUV also sports angular wheel arches on the fenders. Inside, everything is also a complete departure from the predecessor. Hyundai claims that the overall cabin room increased. Further, the cargo bay size improved to 725 liters of capacity. That explains the bigger tailgate and the relocation of the taillights to create a large opening and accommodate sizeable cargo. The dashboard screams futuristic and techy. The panoramic curved

Closer to nature with TARALETS PINAS

RANCENE Callueng reports that Expressway customers expressed unending joy over the waiving of toll on December 24 and 31 at SMC Infrastructure’s SLEX (South Luzon Expressway), STAR (Southern Tagalog Arterial Road), NAIA Expressway and TPLEX (Tarlac-Pangasinan-La Union Expressway). Unearned revenues in the millions were gifts “from the heart” in the spirit of the holidays by way of SMC’s appreciation for motor-

ists’ continued patronage. “This annual tradition is our way of showing the Christmas spirit, a true gift from the heart, to travellers hurrying home to their loved ones. Through this, we hope to help spread the Filipino Christmas spirit, and also wish our countrymen well at the start of the New Year,” the company said in a statement. Very commendable, indeed.

TARALETS PINAS

IN a move to bring its custom-

The fifth-generation Hyundai Santa Fe in new Ocado Green color

display combines the 12.3-inch digital instrument cluster and infotainment system. Another change is the shift lever in the steering column, allowing two wireless charging pads in the center console—plenty of storage panels and multi-USB charging ports, including those behind the front seats. The seat design is also new, including the tone according

to the exterior color. There is even a built-in window sunshade. Powertrain-wise, it looks like Hyundai has ditched the 2.2-liter turbodiesel engine. The presented unit was fitted with a 2.5-liter Smartstream T-GDi (turbocharged) gasoline engine generating 277 hp and 422 N-m of torque coupled with an eight-speed DCT. There is also a

ers closer to nature, Mitsubishi Motors Philippines (MMPC) announced the company’s TAR ALETS PINAS campaign, a nationwide initiative celebrating the Filipino spirit of adventure and making every journey better with Mitsubishi vehicles. Here’s Nelda Castro to expound more on the nature-driven project: “The campaign is a celebration of MMPC's 60th anniversary and its unwavering commitment to making life better for Filipinos by supporting and cultivating their passion for travel and exploration. “TARALETS PINAS aims to inspire Filipinos to rediscover the hidden gems and immerse in the rich culture of the country while driving their Mitsubishi vehicles. Through the campaign, MMPC aims to provide Filipinos with the

perfect vehicles and experiences to explore, discover and create lasting memories. “MMPC has a long and proud history of supporting Filipino journeys. The company's reliable and durable vehicles have been a trusted companion for Filipinos on countless road trips and adventures across the country. “ T he campa ig n seam lessly aligns with MMPC's tagline, ‘Life Made Better.’

Hidden beauty

“BY offering Filipinos dependable and comfortable Mitsubishi vehicles packed with functional and safety features, MMPC empowers them to take on new adventures, rediscover nature’s hidden beauty and experience the full joy of life on the road.

chance that the hybrid version with a 1.6-liter turbocharged engine could make its way to the Philippine market following the upcoming official launch this year.

Brand installation

Meanwhile, HMPH recently unveiled a brand installation featuring the All-New Santa Fe at C1 Park “With TARALETS PINAS campaign, MMPC expresses that it goes beyond simply selling cars. It's about creating a community of Mitsubishi owners who share a passion for exploration, discovery, and making the most of life's journeys. By featuring different provinces and its culture and engaging online activities, MMPC wants to cultivate a vibrant community where Filipinos can connect, share their experiences and get the most out of their Mitsubishi vehicles. “The TARALETS PINAS campaign will, in the coming weeks, go to Bacolod, Guimaras, Iloilo, Pampanga, South Cotabato, Davao, Cebu, Kalinga, Baguio, Bontoc and Siquijor. Each episode will showcase the rich and colorful heritage and culture of each province. “ MMPC P resident & C EO

Bonifacio High Street (BHS) Central in Bonifacio Global City (BGC) last December 30, 2023. It was part of the festivities under “NYE At The 5th,” the City Government of Taguig’s 2024 countdown celebration. HMPH is looking to open 2024 with the fifth-generation Santa Fe. General Manager for Sales Victor Vela noted, “Visually, the differences from its predecessor are dramatic. But this iteration still maintains the practicality and performance [that] we have grown to love with the Santa Fe. We wish to keep some things private until its official launch. So, please wait for the final pricing and specs.” Still, Hyundai treats its customers with a sneak peek to join in the anticipation. The display space in BGC lasted until Friday, January 12, 2024. The unit in Terracotta Orange, one of six colors that will be made available to the market, was presented. Even as a static display, visitors could see what they look forward to this new year using the hashtag #OpenForMoreIn2024. It takes inspiration from the rebirth of the All-New Santa Fe’s design identity, the starting point of which was the opening of its wide tailgate. Takeshi Hara said, ‘We encourage Filipinos to pack their bags, fuel up their Mitsubishi vehicles and embark on their own TARALETS PINAS adventure. We can't wait to see the amazing places you'll visit and the incredible experiences you'll create with Mitsubishi Motors.’ “For more infor mation on TARALETS, visit https://taraletspinas.com/.”

PEE STOP I finally got my RFID

for SLEX, thanks to Leny Giron of San Miguel Infrastructure, with Danny Santos himself taking pains in installing it at home. My gratitude, too, to SMC’s Jon Hernandez & Jayson Brizuela, who joined hands in making it happen. Cheers!… I wish NLEX has a home service, too? Any luck, Junjie (Quimbo)?