BusinessMirror January 17, 2024 by BusinessMirror

Oct timeline crucial to Cha-cha–ex-BSP exec

T will be a make-or-break year for Charter-change efforts—or at least until October—according to a former Bangko Sentral ng Pilipinas (BSP) official. In a brief, Global Source Partners country analyst Diwa Guinigundo said Charter change could be “dead in the water” if nothing happens until October when midterm candidates file their certificates of candidacy. “We are looking at some eventful period now through October, the date for filing the certificates of candidacy for the 2025 midterm elections. If nothing happens between now and October, charter change is dead in the water,”

Guinigundo said. Guinigundo noted that various interest groups have been issuing their formal positions against charter change as well as the people’s initiative. There is a possibility, he said, that these groups would take to the streets and even all the way to Batasang Pambansa to let their voices be heard. He cited opinions raised by some sectors who believe changing the 36-year-old Constitution had merit because the country’s progress “was stalled” because the charter failed to promote quality education. These sectors, Guinigundo said,

also noted the failure to empower farmers with agriculture support and restrictions in land ownership that prevented foreigners from owning land. “True, as claimed by some legislators, it is within the prerogative of established democracies to change their fundamental laws to sustain their relevance to the changing times,” Guinigundo said. “The issue in the Philippines is whether a constitutional amendment could address what sets back its politics and the economy,” he added. Other sectors claimed, Guinigundo said, changing the form of government to parliamentary

would be more cost-effective. These sectors also claimed that it will also be easier to change leaders through a parliamentary form of government. This is because the leadership will be elected by districts rather than nationwide polls. “Evidence exists that some countries with either form have performed better, and some worse, because the form of government is only secondary to the mindset and the maturity of the electorate as well as to the competence and character of those who will form and lead governments. Both essential ingredients cannot be obtained by constitutional change,” Guinigundo said. Cai U. Ordinario

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

Wednesday, January 17, 2024 Vol. 19 No. 94

P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK

’23 RATE HIKES’ IMPACT WILL STILL BE FELT: PIDS By Cai U. Ordinario @caiordinario

HE additional policy rate hikes last year will continue to haunt the economy this year, according to the government’s think tank, the Philippine Institute for Development Studies (PIDS). In a discussion paper, PIDS researchers led by Senior Research Fellow Margarita Debuque-Gonzales said the additional hikes could impact the performance of the economy for a period of four quarters to as long as seven quarters. If the impact would last up to seven quarters, this means the additional rate hikes—the last being the 25 basis point (bps) increase in the Target Reverse Repurchase (RRP) Rate in the off-cycle meeting in October 2023—could extend the impact to 2025. “The central bank has been quite responsive to rapidly changing information, from both domestic and foreign sources. Yet as inflation threats remain, we continue to propose high-frequency monitoring and a calibrated response to price developments that carefully

ENDURING BEAUTY The remnants of the art deco architecture at the Philippine Postal building stand as poignant reminders of our rich historical heritage. Despite being marred by a devastating fire, these ruins persist as a captivating attraction, drawing in both local tourists and history enthusiasts. Located in Plaza Lawton, within the historic walls of Intramuros, Manila, the site offers a glimpse into the grandeur of the past. BERNARD TESTA

See “Rate hikes,” A2

PHL REMAINS 2ND LARGEST PINEAPPLE EXPORTER–FAO By Jasper Emmanuel Y. Arcalas @jearcalas

HE Phi l ippines remained as the world’s second largest exporter of pineapples as its total shipments last year rose by 5 percent on an annual basis to over 600,000 metric tons (MT). In its latest assessment, the United Nations’ Food and Agriculture Organization (FAO) estimated that the Philippines kept its global stature last year after it exported some 611,873

MT of pineapples, some 29,336 MT over the 582,537 MT it shipped in 2022. FAO attributed the higher shipments to growing demand from China, the top buyer of Philippine pineapples, for premium quality fruits last year. “Preliminary trade data for the period up to July 2023 show a 22 percent year-on-year increase in shipments to China, the leading recipient of pineapples from the Philippines at See “Pineapple,” A2

Weather shearline triggers widespread Davao flooding By Manuel T. Cayon @awimailbox

AVAO CITY—The weather shearline in running across most of eastern Philippines caused widespread flooding in the Davao Region, rendering many highway roads impassable. While no one was reported dead or missing, the Office of C iv i l Defen se re por ted t h at continuous rains since Tuesday inundated 13 areas, mostly in Davao de Oro, formerly Conpostela Valley, although there were no reports yet from the other provinces.

Three landslides were monitored in New Bataan, Nabunturan and Maco towns, all of Davao de Oro; and eight highways in Monkayo, Maragusan, Nabuntural and Compostela were not passable. The OCD said it received from Davao de Oro reports of a total of 13 flooded areas Laak, New Bataan, Mawab, Nabunturan and Maco. One bridge in Fatima, New Bataan showed cracks and was closed to all types of vehicles. So far, the OCD said 2,212 persons were affected by the f lood from the five provinces of the See “Flooding,” A2

PESO EXCHANGE RATES n US 55.8810 n JAPAN 0.3835 n UK 71.1309 n HK 7.1427 n CHINA 7.7915 n SINGAPORE 41.9213 n AUSTRALIA 37.2167 n EU 61.2009 n KOREA 0.0424 n SAUDI ARABIA 14.9008 Source:

BSP (16 January 2024)

BusinessMirror

Wednesday, January 17, 2024

Rate hikes. . . Continued from A1

considers the nature of shocks, estimated pass-throughs, and policy lags to ensure that monetary decisions are always well-timed,” PIDS researchers said. PIDS said the Philippine economy is expected to post a growth of 5.5 to 6 percent while inflation is expected to fall within the Central Bank’s target range of 3 percent this year. Consumption is expected to support the Philippine economy amid the weakness in the global economy. It can be noted that the consumption accounts for 70 percent of the country’s GDP. The growth in consumption will be fueled by Overseas Filipino Worker (OFW) remittances which could offset lost purchasing power. In 2023, the purchasing power of the peso for All Income Households was at 0.87 centavos while for the Bottom 30 percent, it was at 0.86 centavos. The decline in the purchasing power of Filipinos was largely due to the heavily weighted food index, which accounts for 34.78 percent of the Consumer Price Index (CPI) for All Income Households and 51.38 percent for the Bottom 30 percent of households. “The temptation to prioritize concerns apart from inf lation should be resisted, particularly when inflation expectations are not yet fully under control, given the importance of price stability in protecting the purchasing power of consumers, especially the poorest ones,” the authors said.

“Food inflation, in particular, has been shown to significantly worsen living standards and increase poverty in the Philippines, hurting the weakest segments of society,” they added. Meanwhile, PIDS said concerns have been raised regarding potential delays in fiscal policy reforms, particularly in detailing the country’s medium-term fiscal framework (MTFF). PIDS authors called for a comprehensive approach to fiscal sustainability, urging clarity on additional revenues from legislative measures and the timing of deficit-reducing measures. Effective management of the newly established Maharlika Investment Fund is another crucial aspect. According to the authors, “whi le it holds potentia l for boosting economic growth and development, its success hinges on strong governance and clear objectives.” PIDS said appointing a credible board and professional management team is essential to ensure good governance and minimize political interference. The authors reiterated their prev ious policy recommendations, including controlling inflation without harming growth, managing exchange rate volatility while maintaining f lexibility, rebuilding fiscal space, and investing in infrastructure and human capital. Effective policy responses to these risks and continued implementation of sound economic policies will be key to ensuring sustainable growth and development in the Philippines in 2024.

www.businessmirror.com.ph

PHL, UK forge framework deal on defense cooperation

By Malou Talosig-Bartolome

HE Philippines and the United Kingdom have signed an umbrella defense agreement that serves as a framework for future defense and military cooperation activities between the two countries. The Department of Foreign Affairs said the Memorandum of Understanding on Defense Cooperation was signed in London last January 11. T he agreement was signed by Philippine A mbassador to London Teodoro L. Locsin Jr. and UK Minister of State for Defence, T he Ea rl of Minto, Timothy Minto. “The MOU is aimed at providing a framework for enhancing bilateral cooperation in the field of defense, including on defense and military education, training and capacity building, peacekeeping operations, humanitarian assistance and disaster relief, armaments and military equipment, and research and technology,” the

DFA said in a statement. The DFA did not provide additional details on the MOU. In 2021, the UK decided to “tilt” its defense policy towards the Indo-Pacific, and develop alliances in the region bilaterally and multilaterally. In August 2023, then UK Foreign Secretary James Cleverly and Philippine Foreign Affairs Secretary Enrique Manalo signed a Statement of Intent for Enhanced Partnership to boost cooperation on maritime security, renewable energy and trade. The UK assigned a defense attache to the Philippines in 2022, as well as deployed its offshore patrol vessel HMS Spey during the Philippines-US Exercise “SamaSama” last year. The Armed Forces of the Philippines earlier said it hopes to hold joint patrols in the West Philippine Sea with the UK, and other allied

AMBASSADOR Locsin and The Earl of Minto are seen after the signing of the MOU for defense cooperation between the two countries. PHOTO COURTESY OF PHILIPPINE EMBASSY IN LONDON

countries, this year. Ambassador Locsin and The Earl of Minto hailed the signing

Recto leads 171 appointees awaiting CA confirmation By Jovee Marie N. Dela Cruz @joveemarie

INANCE Secretary Ralph Recto leads some 171 presidential appointees anticipating confirmation hearings when Congress reconvenes on January 22, a senior lawmaker said on Tuesday. C o m m i s s i o n o n A p p o i nt ments (CA) Assistant Minority Leader and Surigao del Sur Rep. Johnny Pimentel said that the CA has received Recto’s appointment papers, along with nomination papers for two ambassadors and promotion papers for senior military officers. “The CA has already received

Pineapple. . . Continued from A1

a share of some 46 percent over this period,” the FAO said in its report about the global tropical fruits market published recently. “Industry sources reported that imports of pineapples from the Philippines to China benefited from higher Chinese demand for premium quality pineapples. In this regard, the long shelf life, year-round production cycle and attractive price-to-quality ratio of the MD2 pineapples, the main variety cultivated in the Philippines,

of the MOU as an opportunity to further develop defense cooperation between the two countries.

the appointment papers of Secretary Recto, along with the nomination papers of two ambassadors and the promotion papers of 168 senior military officers,” said Pimentel. According to Pimentel, Flerida Ann Camille Mayo has been nominated as the Philippine ambassador to Cambodia, while Edgar Tomas Auxilian has been chosen as the Philippine ambassador to Papua New Guinea, with concurrent jurisdiction over Kiribati and the Solomon Islands. Pimentel said the latest batch of senior military officers awaiting their confirmation hearings is led by four Philippine Army major generals: Leodevic Guinid, Allan

Hambala, Edmund Peralta, and Ramon Zagala II. “We also have 13 brigadier generals from the Philippine Army, three commodores from the Philippine Navy, and 148 colonels from the Philippine Army and the Philippine Air Force pending confirmation,” Pimentel said. The lawmaker encouraged the public to submit any relevant information, written reports, or sworn or notarized complaints or oppositions to the appointees to the CA Secretariat. The Constitution empowers the 25-member CA to scrutinize the competence, fitness, and integrity of key presidential appointees and to approve or disapprove any of them. The commission is composed of 12 members each from the House of Representatives and the Senate, with the Senate President as the ex officio presiding officer.

proved to be a particularly strong selling point,” it added. The FAO explained that the Philippines also sustained its strong exports to Japan and South Korea, which are part of its top three markets for pineapples. “Further key import markets for pineapples from the Philippines remained Japan and South Korea over the first seven months of 2023, at quantity shares of some 30 percent and 13 percent, respectively. Shipments of Filipino pineapples to both destinations expanded by some 5 to 7 percent over this period,” the FAO explained.

The FAO added that the average export unit value of shipments from the Philippines to world markets rose by 2 percent year-on-year to some $585 per MT over the Januar y to July period of last year. “Amid changing consumer preferences, import growth in recent years has been driven by growing demand for more premium pineapples, with the MD2 variety from the Philippines particularly sought after,” it pointed out. Costa Rica remained as the world’s top largest exporter of pineapples with over 2 MMT in shipments last year.

Flooding. . . Continued from A1

region, and 1,900 of them were staying at the evacuation centers in Davao de Oro (336 families/1332 persons) Davao Occidental (20 families/100 individuals)

and Davao Oriental (110 families/468 individuals) Across the region, 27 municipalities declared class suspension and 14 municipalities declared work suspension. The OCD said the Department of Social Welfare and Development provided 550 family food packs amounting to P328,625.

BusinessMirror

www.businessmirror.com.ph

Wednesday, January 17, 2024 A3

SINING FILIPINA NATIONAL ART COMPETITION NOW OPEN FOR ENTRIES THE SUBMISSION DEADLINE IS UNTIL JANUARY 31, 2024.

SM Supermalls’ President, Steven Tan (right), with BDO Unibank Vice President and Head of Sustainability Office, Marla Alvarez (second from right), Zonta Club of Makati and Environs Vice President, Joanne Zapanta-Andrada (second from left), and host Ces Drilon (left), during the panel discussion at the recent Sining Filipina National Art Competition Media Launch at the SM Aura Samsung Hall Lobby

Entries for Sining Filipina, the pioneering all-female national art competition in the Philippines, are being accepted until January 31, 2024.

N a celebration of art, women empowerment, and the boundless creativity of Filipina artists, BDO Unibank, Inc. and SM Supermalls, in collaboration with the Zonta Club of Makati and Environs, proudly announce the launch of the first-ever all-female national art competition in the Philippines – Sining Filipina.

T his groundbrea k ing competition aims to prov ide a platfor m for Filipinas to ex press their ar tistic ta lents, promoting them as or ig inators of ar t and empower ing them in the creative rea lm. With both Fig urative and NonFig urative categor ies, Sining Filipina inv ites par ticipants to showcase their unique perspectives on the

SM Supermalls’ President Steven Tan

BDO Unibank Vice President and Head of Sustainability Office Marla Alvarez

contemporar y woman. Contestants shou ld submit or ig ina l ar t works, entirely conceptualized and

executed by themselves, until the deadline on January 31, 2024. The competition offers a generous cash prize of up

Zonta Club of Makati and Environs Vice President Joanne Zapanta-Andrada

to P250,000 for the First Place Winner, providing not only recognition but also a significant boost to their artistic journey. For a detailed understanding of the mechanics, application process, and g uidelines, interested par ticipants can v isit https://zontaclubme. com/sining-filipina /. Additiona l ly, inquir ies can be directed to sining filipina. secretar iat@g mail.com. T his initiative ref lects the commitment of BDO Unibank, Inc., SM Super ma l ls, and the Zonta Club of Ma k ati and Env irons, to champion the f lour ishing ta lents of Filipina ar tists. A s a testament to their suppor t, the competition seeks to amplif y the voices and v isions of women in the rea lm of ar t. Join us in celebrating the r ichness of Filipina creativ it y – Sining Filipina awaits your master piece! To know more about the exciting events at SM Supermalls, visit www. smsupermalls.com or follow @ SMSupermalls on social media.

(L-R): SM Supermalls’ Vice President for Corporate Marketing Grace Magno, Zonta International Foundation for Women District 17 Ambassador Armita Rufino, Zonta Club of Makati and Environs (ZCME) Past President Maritess Pineda, Zonta International Past President Olivia Ferry, ZCME Vice President Joanne Zapanta-Andrada, BDO Unibank Vice President and Head of Sustainability Office Marla Alvarez, BDO Private Bank Executive Vice President and Head of Wealth Management Group Stella Cabalatungan, ZCME President Rosario Abaya, SM Supermalls’ President Steven Tan, BDO Unibank Senior Vice President and Head of Cash Management Services, Transaction Banking Group Carlo Nazareno, and BDO Unibank First Vice President and Officer in Charge for Marketing Communications Group Hannah Lopez

Wednesday, January 17, 2024

The Nation

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

Philippines third ‘safest nation’ in Southeast Asia–Gallup poll A

8 out of 10 Pinoys believe PHL should work with US to defend WPS–survey

By Rex Anthony Naval

HE Philippine National Police (PNP) on Monday announced that the country is the third “safest nation” in Southeast Asia per the Gallup Global Law and Order Report. “First and foremost, I am delighted to announce that the Philippines has been recognized as the third safest country in Southeast Asia, as per the esteemed Gallup Global Law and Order Report,” PNP chief Gen.

Benjamin Acorda Jr. said. He added that this distinction is a “testament to the unwavering dedication of our law enforcement agencies and the collective vigilance and cooperation of our fellow Filipinos.”

“I would like to express my sincere appreciation for the continuous support, cooperation, trust, and confidence bestowed upon the PNP. This remarkable achievement would not have been possible without the invaluable contributions of each individual involved,” Acorda said. The PNP chief is also pleased to report that crime statistics from January 1 to 11 of this year, in comparison to the corresponding period in 2023, showed a decrease in index crimes. “Notably, we have witnessed a reduction from 1,218 incidents to 765, marking a significant decline of 37.19 percent. Fur ther more, focus cr imes have e x h ibited a considerable

Romualdez seeks update on implementation of law exempting PWDs from 12-percent VAT

PEAKER Ferdinand Martin G. Romualdez on Tuesday asked the Department of Social Welfare and Development (DSWD) and the National Council on Disability Affairs (NCDA) to report to Congress the implementation status of a law exempting people with disabilities (PWD) from the 12-percent value-added tax (VAT) on specific goods and services. Romualdez urged the House of Representatives to leverage its oversight function and investigate, in aid of legislation, reports on the improper grant of discounts to PWDs as well as senior citizens. Romualdez is the principal aut hor of Republ ic Act (R A)

10754, or the Act Expanding the Benefits and Privileges of Persons with Disability. Principally authored by Romu a ld e z , R A 10 75 4 , s i g ne d into law on March 23, 2016 by then president the late Benigno “Noynoy” Aquino III, exempts more than 1.5 million PWDs from the 12-percent VAT on certain goods and ser vices. “We want to know how the concer ned people h ave been comply ing w ith this law. We shou ld show ma lasa k it [concer n] over t he pl ight of our PWDs,” Romualdez said. “We just want to ensure that PWDs are enjoying the benefits they deserve under the law three years after its enactment. Let us

work to beef up efforts in informing the public about the standards set by law for the rights and privileges of our PWDs,” he added. The officials of the DSWD, N C DA , a n d D e p a r t m e n t o f Health signed the Implementing Rules and Regulations of R A 10754. It covers the purchase of medicines and food for special medical purposes, medical and dental ser vices, including laborator y fees and the professional fees of attending doctors, fares for domestic air, sea, and land transportation travel, and funeral and burial services. All establishments are mandated to display signs listing the

dec rea se f rom 1, 211 to 759 du r ing t he sa me per iod, sign if y ing a reduct ion of 37. 32 percent,” he added. And in the same period, Acorda said that the PNP has conducted 719 operations against illegal drugs that resulted in the confiscation of more than P70.9 million worth of narcotics. “Simu ltaneously, our commitment to pursuing wanted persons has resulted in the arrest of 1,801 individuals. Additionally, our campaign against the possession of loose firearms has led to the arrest of 155 persons and the recover y, surrender, confiscation, or safekeeping of 673 firearms,” the PNP chief noted.

benefits and privileges of PWDs in their premises. The law also provides ta x incentives for individuals caring for and living with PWDs up to the fourth degree of affinity or consanguinity. To avail themselves of these exemptions, PWDs are required to present an ID issued by the Pe r son s w it h D i s a bi l it y A f fairs Office, their local Social Welfare Development Office, a passport, or an ID issued by the NCDA. Romualdez underscored the importance of investigating potential cases of abuse to ensure that only legitimate PWDs benefit from the law. Romua ldez ordered an inquir y, in support of legislative efforts, into reports deny ing discounts to senior citizens and PWDs as mandated by existing laws. Jovee Marie N. Dela Cruz

DENR told: Water quality in Verde Island Passage deteriorating, too

ROTECT VIP, a group that advocates the protection of the Verde Island Passage (VIP), reiterated its call to the Department of Environment and Natural Resources (DENR) to address the deteriorating water quality in the region the same way it intends to address environmental issues in other tourism areas. Protect VIP issued the statement following a strategizing meeting held by the DENR and other concerned government agencies that focused on the El Nido and Coron in Palawan, Panglao in Bohol, Puerto Galera in Oriental Mindoro, and Siargao Island in Surigao del Norte, which the DENR refer to as the 5 Green Economy Model (5 GEM). The meeting, which included the DENR, Department of the Interior and Local Government (DILG), Department of Health (DOH), and Department of Tourism (DOT), tackled environmental concerns on tourist spots including water quality. Protect VIP, however, lamented that the agency has yet to respond to urgent water quality issues in the VIP, citing a complaint it

filed against the DENR last December, for the non-issuance of Guidelines for Declaration of Non-Attainment Area in the VIP after failed water quality tests. Non-attainment areas are areas where specific pollutants have already exceeded the standards, in the case of the VIP, water pollutants. “We urge the DENR to prove their sincerity and commitment to protecting the VIP among the vital marine resources and tourist destinations of the country. As DENR and Cabinet members address environmental issues for our country’s tourism sector, we urge DENR not to turn a blind eye to the pressing environmental issues on the VIP. Its waters are still reeling from the effects of the Mindoro oil spill and the booming fossil gas industr y in Batangas, as reflected by the failed water quality tests CEED [Center for Energy, Ecology and Development] and the dwindling fish catch of fisherfolk. With their initiatives to better the water resources in the country, we hope that DENR would not leave the VIP behind,” Fr. Edwin Gariguez, lead convenor of Protect

VIP said. The provinces surrounding the VIP, which scientists declared as the center of the center of shore fish biodiversity, benefit largely from the tourism industry with Batangas alone recording over 2.3 million tourists in 2022 and is the 5th most visited place in the country for 2019, according to the Department of Tourism. Ivan Andres, CEED deputy head for Research and Policy of Center, raised alarm on the environmental impacts of the declining water quality in the VIP and its potential effects on the tourism sector. “The VIP, being the center of the center of global marine fish shore biodiversity, constitutes a significant asset to our tourism sector. Batangas, a part of the VIP, is considered to be the top diving site in the country. However, last July and September, CEED conducted water quality tests that revealed that Marine Protected Areas [MPAs] in Pola and Pinamalayan in Oriental Mindoro, as well as in Ilijan, Batangas exceeded DENR’s standards for oil and grease. This is alarming since declining water quality can affect

the tourism industry. The declining water quality can bring irreversible damage to the marine ecosystem in the VIP if not addressed immediately,” said Andres. Last February 28, 2023, an oil tanker carrying 900,000 liters of industrial oil sank along the coasts of VIP causing a massive oil spill, affecting over 200,000 individuals and four regions in the country, including Oriental Mindoro, Batangas, Palawan, and Antique. As this tragedy approaches its first year, Gariguez challenged the DENR to conduct proper assessment and rehabilitation for its affected waters. “The oil spill that devastated Oriental Mindoro is nearing its first year. This should have already been a catalyst for the DENR to assess the water quality of VIP and to plan for its recovery moving forward to ensure healthy coastal waters for the fisherfolk communities. If the DENR is sincere in its aim to improve the country’s tourism by addressing environmental issues, the water quality of crucial marine ecosystems such as the VIP should be top priority,” said Gariguez. Jonathan L. Mayuga

PULSE Asia survey commissioned by inter national think tank Stratbase Institute revealed that eight out of 10 Filipinos believe that the administration of President Ferdinand R. Marcos Jr. should work with the United States amid the ongoing tensions in the West Philippine Sea (WPS). The survey results were released Tuesday during the Stratbase organized forum titled “Fortifying Cyber Cooperation Towards Digital Security.” The Pulse Asia survey, conducted from December 3 to 7, 2023, asked 1,200 respondents from all over the country about their view on the countries or organizations they want the Philippines to work with considering the implications of the tensions in the WPS on the country’s security and economy. The respondents were allowed to choose up to three answers. Around 79 percent of Filipinos said they want the Marcos administration to work with the US, while almost half of Filipinos answered Australia (43 percent) and Japan (42 percent). Stratbase president Professor Dindo Manhit said the results show the need for the Marcos administration to bolster its alliance and partnerships with like-minded states like the US, Australia, and Japan. Consequently, to effectively assert our rights in the West Philippine Sea (WPS), 67 percent of Filipinos believe that there is a need to strengthen the external defense capability of the Philippines, especially the Navy, the Air Force, and the Coast Guard through the AFP Modernization Program. The survey also stressed that the most important reason to defend or protect the WPS is to uphold the 2016 Arbitral Tribunal ruling that affirms our rights to the WPS and promote a rulesbased international order (31 percent), to maintain our sovereign and territorial integrity (27 percent), and to protect marine resources from further destruction and prevent the abuse of such valuable resources (23 percent). “These countries have continued to voice their support for the Philippine position and have condemned Chinese actions against Filipino vessels. Their resounding statements of support boost the confidence of the Philippines in

the international community. In the face of asymmetric security challenges, the Philippines must leverage its relations with states with shared values and with the same commitment to defend the rules-based international order,” Manhit added. He also noted that only 1 out of 10 Filipinos or 10 percent favored working with China. “As evidenced by the survey results, 90 percent of Filipinos are not in favor of working with China. This is only natural, as the Philippines continue to encounter aggressive and coercive acts in the WPS. In addition to diplomatic protests, the Philippines is also exiting from China’s Belt and Road Initiative,” he said. Meanwhile, Defense Secretary Gilberto “Gibo” Teodoro Jr. told reporters that the Philippines would get quality equipment and material for the ambitious modernization program of the Armed Forces of the Philippines (AFP). “We will not get off-the-shelf products,” Teodoro said in a quick interview after his talk in the forum. “We develop greater synergy between our capability providers and partners,” he added. Teodoro said the Philippines would continue in establishing enhanced cooperation ag reements such as memorandum of understanding with like-minded countries. He said the Philippines hopes to sign these partnership agreements within the first quarter of 2024. Manhit said majority of Filipinos also believe there is a need to reinforce the country’s alliances and partnerships with like-minded countries through the conduct of joint patrols and military exercises (56 percent), establish stronger military presence in the WPS by repairing the World War II era ship BRP Sierra Madre and by conducting regular resupply missions, as well as ensuring control of the Ayungin shoal (52 percent) and improve inter-agency cooperation among agencies involved in maritime security (52 percent). Moreover, results from the same Pulse Asia survey also show that the majority or 55 percent of Filipinos believe that the Marcos administration can fulfill its promise of protecting the WPS against the illegal and aggressive actions of other states. Rex Anthony Naval and Rizal Raoul Reyes

DILG chief commits fight vs malnutrition

EPARTMENT of the Interior and Local Government (DILG) Secretary B enjamin “B enhur ” Abalos Jr. highlighted his advocacy on nurturing newborn and young children in their first 1,000 days to counter malnutrition and stunting. He made the commitment during the launch of Operations Manual on Non-Governmental Organizations’ (NGO) Involvement in the Children’s First One Thousand Days Nutrition Program produced by the Children’s First One Thousand Days Coalition (CFDC) at the Manila Hotel over the weekend. Abalos explained that he has always been an advocate of nutrition for children and pregnant women even during his days as a local chief executive for the City of Mandaluyong. The DILG chief, also the acting ex-officio vice chairperson of the National Nutrition Council Governing Board, said that the Department is committed to supporting Republic Act No. 11148 or the “Kalusugan at Nutrisyon ng Mag-Nanay Act.” In a recent memorandum, Abalos directed local government units (LGU) to prioritize the nutrition of pregnant and lactating women, and newborn children less than two years of age, especially those residing in disaster-prone and geographically isolated and disadvantaged areas.

He also committed to empower LGUs to integrate maternal, neonatal, and child health and nutrition programs into Local Nutrition Action Plans, fostering policies that champion local investments in nutrition. During his term as Mandaluyong City mayor, the Nutrition Honor Award, which was the highest accolade conferred by the National Nutrition Council to an LGU, was conferred to the city for three consecutive years. He was cited for his Millennium Baby Project, which provided care for women and their babies, and the creation of the Breast Feeding Patrol, a group of breastfeeding mothers who can be pulled during emergencies to breastfeed hungry babies. During the launch, Abalos congratulated the CFDC for coming up with the Operations Manual, which he said is a critical contribution to ending malnutrition in the country. The manual outlines precise inter ventions throughout the pre pregnancy, pregnancy, and post-pregnancy stages with the ultimate goal of optimizing the health of both mother and infant. To recall, the CFDC and DILG last December signed a memorandum of agreement to help nurture Filipino children during their formative years to combat malnutrition and stunting. Rex Anthony Naval

Economy

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

Clark airport direct link to NLEx and SCTEx to be completed soon

LARK FREEPORT ZONE—Travelers using Clark International Airport will soon benefit from the ease and convenience of a road network directly linked to the alternative gateway, an executive of the Clark International Airport Corp (CIAC). announced on Tuesday. Arrey Perez, CIAC president, said the government aviation firm has started the process for the detailed architectural and engineering design of the CRK Direct Access Link project connecting the North Luzon Expressway (NLEx) and the Subic-ClarkTarlac Expressway (SCTEx) straight to the Clark airport. Perez’s statement comes on the heels of a recent report from the Luzon International Premier Airport Development Corp., the consortium that operates and manages the Clark International Airport, indicating a passenger volume of nearly two million in 2023, or a remarkable 158 percent increase from its 2022 records. “The hassle-free direct access link will provide travelers the ‘sense of arrival’—a feeling of welcome and of entering a gateway to exciting new places—from a faster yet comfortable trip that will enhance the impression of our award-winning airport whose number of flights and passengers continue to grow,” Perez said. Perez noted the CRK Direct Access Link project spans 2.7 kilometers, featuring nor th- and south-bound toll plazas connecting to the SCTEx, and is expected to be completed in 2026. “Apar t from the faster and more comfortable trip for travelers, especially coming from Metro Manila and the northern parts of Luzon, the road project will exponentially boost potential for partners, locators, and investors in the airport complex that we are strongly pushing for development,” he added. The CIAC chief also noted the road network project is part of the horizontal infrastructure development efforts of the agency at the Clark civil aviation complex primed to be the premier global civil aviation logistics hub of the country. The four-level terminal at Clark International Airport spans an impressive 110,000 square meters and has the capacity to serve 8 million passengers annually.

DA chief sees flat rice output growth for PHL in 2023 amid El Niño threat By Samuel P. Medenilla

@sam_medenilla

HE Department of Agriculture (DA) expects a flat growth in rice output this year due rising incidents of droughts caused by El Niño. Manila is now set to finally sign a new memorandum of agreement (MOA) with Hanoi during the up-

coming visit of President Ferdinand R. Marcos Jr. to Vietnam to guarantee the country’s rice supply during

such calamity. Despite ongoing government efforts to sustain and boost food production this year, DA Secretary Francisco P. Tiu Laurel Jr. said the country is expected to produce the same amount of “healthy stock ” of rice in 2023 by the end of the year. “Technically, if I am not mistaken, our [rice] production for [2023] is 20 million tons and 2024 [production] should be almost the same due to El Niño,” Laurel said in a news conference in Malacañang on Tuesday. To ramp up food production, Laurel said they are eyeing to build more water impounding areas and

facilities as well as install more solar power irrigation in more areas as soon as possible. The government will also tap imports to ensure national food security during the challenging times. Laurel announced that they are almost done in drafting the fiveyear supply deal with Vietnam, which was first announced during the 43rd Asean Summit in Indonesia last September. He said they were instructed by the President to complete the draft before his next state visit to Vietnam in the coming weeks. “[It] basically guarantees us that they will be supplying rice,

even in a calamity situation. So that is part of our food safety. So that is good for us,” Laurel said. The government is currently trying to implement measures to secure the country’s food supply during the first half of the year amid the worsening impact of El Niño, which is expected to cause higher global food prices. He noted rice prices have increased in major rice producing countries like Thailand, Vietnam as well as Malaysia and Indonesia due to effects of El Niño. “So, we have to really manage the situation and we are looking at it on a day-to-day basis,” Laurel said.

Imposition of SSG duties on imported Indonesian coffee undergoes review By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) is reviewing the imposition of special safeguard duties (SSG) on imported coffee following the recent bilateral meeting between Manila and Jakarta. Agriculture Secretary Francisco P. Tiu Laurel Jr. confirmed on Tuesday that the DA is undertaking the necessary policy review regarding the SSG on imported coffee products. “We are reviewing that po,” Laurel said in a news briefing at Malacañang. During his recent state visit to the Philippines, Indonesian President Joko Widodo sought President Marcos Jr.’s help in resolving Indonesia’s issue with the latter’s continued imposition of SSG on imported coffee products.

The DA is the concerned agency when it comes to the imposition of the trade remedy on involved agricultural commodities like coffee. T he Philippines imposes a price-based SSG on imported coffee products, a mechanism it started implementing in 2018 after the government saw a surge in coffee imports, which are priced way below the trigger price of the country. SSG duties is a trade mechanism that a countr y can impose on imported products that fall below a so-called trigger price by slapping additional duties in order to protect domestic output against unfair market price competition. Indonesia was one of the badly hit trade-partners by the Philippines since it started imposing the SSG on imported coffee products, resulting in lower imports

Philippines is best country to invest in–Romualdez PEAKER Ferdinand Martin G. Romualdez highlighted the strong economic foundations of the Philippines, situated in the world’s fastest-growing Asean region, and reaffirmed the Philippine government’s commitment that the country is open for business during 2024 World Economic Forum (WEF). Romualdez, in a statement, said the Philippine delegation to the 2024 WEF is committed to upholding the resounding message conveyed by President Ferdinand R. Marcos Jr., last year—that the Philippines is open for business and stands as the optimal destination in the region for foreign investments. Romualdez emphasized the need to reiterate this crucial message, ensuring that it resonates across international platforms. “We want to reiterate the message so it is not lost. We will repeat the message that the Philippines is open for business, we are strong, and we are united,” Romualdez said during the discussions at the welcome lunch for the Philippine delegation held at Hotel Belvedere in Davos late Monday. WEF head of business engagement for the Asia-Pacific Clara Chung, WTO Permanent Representative Ambassador Manuel A.J. Teehankee, Philippine Ambassador to the Swiss Confederation and Principality of Liechtenstein Bernard Faustino Dy, and other affiliates welcomed the Philippine delegation. Romualdez noted, among others, the sound economic fundamentals of the Philippines, which

Wednesday, January 17, 2024

is located in the fastest-growing region in the world today. “[We have] great fundamentals; the macro figures are fantastic. We are in the fastest-growing region; we are the bright spot amid the global recession that we are suffering from. And within that bright spot, we look at the Philippines as the best country to invest in,” said Romualdez. According to WEF’s 2024 Chief Economist Outlook, the majority of chief economists expect the global economy to weaken over the next year, with the most buoyant economic activity still expected in South and East Asia. Romua ldez noted that the Philippines enjoys a very stable government, with a strong and very popular leader in President Ferdinand Marcos Jr., who has over four years remaining in his term and is pursuing a vision of fostering an inclusive, resilient, and sustainable growth trajectory for a thriving society.

Econ Cha-cha

ROMUALDEZ also highlighted efforts to make the Philippines more investor-friendly, particularly the move to relax the restrictive provisions of the 1987 Constitution. “It would be a welcome development for our trade partners. So this is no longer a concept or a desire, just like the Maharlika [Investment Fund] was. It proves that ‘we walk the talk.’ When we talk about opening up our economy, then we actualize it through acts that are clearly tangible. Again, thanks to the leadership

of the Marcos administration,” Romualdez said. Romu a ldez commended t he Senate’s proactive steps in proposing amendments to cer tain econom ic prov isions, sig na ling a comm it ment to ad apt to the demands of an increasingly globa l i zed age. In a separate statement, House Majority Leader Mannix Dalipe expressed satisfaction with the recent decision of the Senate to align with the House of Representatives in the constitutional amendment movement. The Majority Leader underscored the Senate’s dedication, emphasizing the unified stance of Senate leaders in supporting these amendments. He lauded the Senate for acknowledging the urgency and significance of this matter, reflecting their commitment to national governance. Dalipe also commended the confidence of the Senate President in securing the necessary support for this initiative, indicating a robust and growing consensus among legislators on the importance of these changes. Expressing appreciation for the Senate’s commitment to passing the amendments in the first quarter of 2024, Dalipe emphasized their understanding of the immediate need for these essential reforms. Dalipe assured that the entire House leadership remains dedicated to working collaboratively with the Senate to bring about these significant legislative changes. Jovee Marie N. Dela Cruz

since 2019. In March 2023, the Philippines maintained that it continued slapping SSG on imported coffee products, particularly instant coffee, as long as the items are below the country’s trigger price to extend necessary protection to local farmers. The countr y’s instant coffee

imports from Januar y to October 2023 declined by about 11.73 percent to 138.898 metric tons from 157.366 metric tons recorded volume in the same 10-month period of 2022, according to the Philippine Statistics Authority (PSA). PSA data showed that the value of instant coffee imports during

the reference period fell by 10.2 percent year-on-year to $422.509 million from $470.748 million. Indonesi a wa s t he Ph i l ip pines’s top supplier of instant coffee during the 10-month period with a total shipment volume of 121.51 metric tons valued at $332.48 million, according to the PSA.

BusinessMirror

Wednesday, January 17, 2024

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

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

LI, XINGLONG Mandarin Operation Team Leader Brief Job Description: Develop a strategy.

FONG JIUNN KANG Mandarin Operations Team Leader Brief Job Description: Maintain accurate sales records.

No.

TOH YU MEI Chief Human Resource Officer 9.

Basic Qualification: Can speak Mandarin language.

Brief Job Description: Support client account team in business development including leading client RFP response, solution development, participating in client orals, commercials etc.

TRAN THI NGOC Order To Cash Operations Analyst

Brief Job Description: Support to maintain and improve service performance metrics reports, as required. Provide status of work in process, assist in planning and coordinating. Execution of work, escalate issues in a timely and appropriate manner while pushing to identify resolutions. Provide quality, cost effective service while looking at ways to contribute to process improvement. May provide ad-hoc analyses and summaries of information as requested.

NGUYEN DANG KHANH DAT Client BPO Executive 10.

TRAN PHAM THIEN PHU Client BPO Executive 11.

Basic Qualification: Excellent knowledge of telecom and its processes. Flexible to adapt processes and system rules to drive business outcomes. Sound Excel and PowerPoint skills. Proficient with Japanese language native/ n1/n2/n3.

KHARY KURNIAWAN Marketing Specialist 12.

Brief Job Description: Support sales opportunities and delivery of the solution by leveraging Accenture’s full capabilities. Build client relationships in collaboration with the client account leadership team. Lead the service delivery strategy across one or more client portfolios. Address performance issues and implement continuous improvement plans to achieve project targets and SLA commitments. Manage people engagement, recruiting and staffing to optimize delivery targets.

BHATTACHARJEE, PIJUSH Service Delivery Ops Lead Senior Manager

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

Basic Qualification: 8-10 plus years of delivery/ people management experience, and bachelor’s degree holder. Build, manage & scale large operations. Ability to convert opportunities into solutions. Lead governance meetings with senior management & client partners. Ability to work in a fast-paced deadline driven environment. Design and implement frameworks for controlled operations. Proactive with a strong work ethic and eagerness to ‘go the extra mile’ for self and with team. Proficient in MS office suite, google docs, and the internet. Salary Range: Php 150,000 - Php 499,999

ACSTREAM MANAGEMENT INC. 9/f Sterling Centre, 131 Dela Rosa Cor. Ormaza Sts., San Lorenzo, City Of Makati

FAN CHIANG, CHUN-HENG Mandarin Speaking Operations Specialist 8.

Brief Job Description: Develop and maintain standard operating procedures for all business functions.

Basic Qualification: Good verbal and written communication skills in Mandarin language and at least 6 months of related experience in this field. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Conducting market research to establish customer trends and habits. MISBAHUL ANNAM Marketing Specialist Brief Job Description: Conducting market research to establish customer trends and habits. MUHAMMAD BAGUS FIRDAUS Marketing Specialist

14.

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

Basic Qualification: Knowledgeable in Accenture delivery methods, cost accounting, supply chain - demand management, operational level agreements, operational excellence, operations management and SLA management.

Brief Job Description: Serves as a liaison between the customer and various departments & ensures that basic CS functions are performed.

Brief Job Description: Conducting market research to establish customer trends and habits. RIZKY LATANZA Marketing Specialist Brief Job Description: Conducting market research to establish customer trends and habits. SHANDRAWATI WILIANA Marketing Specialist

16.

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

22.

Basic Qualification: Must be native in Malaysian / Taiwanese / Korean / Indian / Thai / Japanese / Indonesian / Singaporean / Vietnamese / Chinese. Fluent in English and respective language. With at least a year experience in similar field.

23.

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

17.

Brief Job Description: Drive bank’s strategies and long-term plan to build best-in-class digital experience for CIMB PH Mobile Banking App.

18.

Brief Job Description: Prepare airline and custom documentation.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs.

24.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs. LIU, JIANJIAN Mandarin Speaking Customer Service Representative

25.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs. MA, JINFU Mandarin Speaking Customer Service Representative

26.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs. XI, JINHAO Mandarin Speaking Customer Service Representative

27.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs.

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

Basic Qualification: At least 5 years of experience in digital product management / ownership or similar role.

28.

29.

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

CHEN, LI-WEI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

LOH KENT WEI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

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

GAMMA INTERACTIVE INC. 21/f Alphaland Makati Place, 7232 Ayala Ave. Cor. Malugay St., Bel-air, City Of Makati WEINY CHEN HENDRI Business Development Indonesian Speaking 30.

Brief Job Description: Contacting potential clients to establish rapport and arrange meetings.

CHANG, YI-LING Customer Service Chinese Speaking 31.

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

Brief Job Description: Employee shall perform the duties such as reporting on the daily operations of call center activities.

SHARMA, DEEPESH Customer Service Indian Speaking 32.

Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

FLYING FUTURE SERVICES INC. 21/f Yuchengco Tower 1 Rcbc Plaza, 6819 Ayala Ave, Bel-air, City Of Makati

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

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

CHEN, YAPEI Chinese Cargo Office Agent

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs.

JIANG, SHIFENG Mandarin Speaking Customer Service Representative

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

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs.

JIANG, GUOYU Mandarin Speaking Customer Service Representative

CIMB BANK PHILIPPINES INC. 22nd Floor Bonifacio Stopover Corporate Center, 2nd Ave. Cor. 31st St. Bonifacio Global City, Fort Bonifacio, City Of Taguig JONATHAN ROBERTS Product Manager

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

DUAN, PEIYUAN Mandarin Speaking Customer Service Representative

Salary Range: Php 500,000 and above

BETCONSULT INTERNATIONAL CONSULTING, INC. 50/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a Rufino St., Bel-air, City Of Makati

15. KALIMUTHU, RAJESH KUMAR Service Delivery Ops Lead Assoc Director

Basic Qualification: Bachelor’s degree holder or Institute for HR, must be a native Singaporean, fluent in English and Mandarin languages and with credible work experience in Group HR services.

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

13.

Brief Job Description: Responsible for identifying, developing, and helping sales teams with complex products. EM supports the sales efforts of team peers and other direct sellers by leveraging product, industry, and/or technology expertise.

Brief Job Description: Serves as a liaison between the customer and various departments & ensures that basic CS functions are performed.

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

Basic Qualification: Graduate of Accounting, Finance or any businessrelated course. At least 2 years work experience. Experience in accounting EPRS (oracle, sap) is required. Written and spoken ability to communicate in English language for Accenture interaction. Previous accounting experience/ studies in particular AR. Must be a good team player. Responsibility and accuracy in the completion of received tasks. Ability to solve urgent matters and work under pressure.

No.

CHEN, KEQIN Mandarin Speaking Customer Service Representative

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

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

EGASHIRA, YUMIKO Program & Project Mgmt Specialist

Brief Job Description: Ensure the delivery of professional Group HR services, strategic HR matters, drive policies and processes that are in line with strategic goals across all global and regional companies.

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

Basic Qualification: Preferably candidates from consulting firms or companies involved in setting up of captive shared services.

QUALIFICATION AND SALARY RANGE

21.

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

ANAND, ADITYA Management Consulting Analyst

ESTABLISHMENT / ADDRESS

AVANTICE CORPORATION 19/f Pbcom Tower, Ayala Ave., Bel-air, City Of Makati

Basic Qualification: Can speak Mandarin language. Salary Range: Php 150,000 - Php 499,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Employee shall perform the duties such as reporting on the daily operations of call center activities.

KHOCHIDKANG, APISIT Customer Service Thai Speaking 33.

Brief Job Description: Employee shall perform the duties such as reporting on the daily operations of call center activities.

Basic Qualification: 21 yrs. old and above with business development work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 21 yrs. old and above with Customer Service work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 21 yrs. old and above with Customer Service work experience. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: 21 yrs. old and above with Customer Service work experience. Salary Range: Php 30,000 - Php 59,999

EASYTECH SUPPORT INC. 9-11/f, 14/f Capella Bldg., Asean Drive Filinvest, Alabang, City Of Muntinlupa

19.

BRANDON LING SIE FOO Bilingual IT Support Specialist Brief Job Description: Providing IT assistance to staff and customers.

RAKKARN, TANAYU Foreign Language Customer Service Representative 20.

Brief Job Description: Maintains customer records by updating account information.

Basic Qualification: Excellent in reading, writing and speaking Bilingual languages.

TRAN MINH ANH Customer Service Vietnamese Speaking 34.

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

Basic Qualification: Excellent in a foreign language. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Employee shall perform the duties such as reporting on the daily operations of call center activities.

CHIEN, CHEN-YANG Marketing Executive Chinese Speaking 35.

Brief Job Description: Manages the execution of different marketing strategies for a company and developing efficient and intuitive marketing strategies.

Basic Qualification: 21 yrs. old and above with Customer Service work experience. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: 21 yrs. old and above with Marketing Executive work experience. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION KANG, HAO Marketing Executive Chinese Speaking

36.

Brief Job Description: Manages the execution of different marketing strategies for a company and developing efficient and intuitive marketing strategies.

RANI, TAYYABA Marketing Executive Pakistani Speaking 37.

Brief Job Description: Manages the execution of different marketing strategies for a company and developing efficient and intuitive marketing strategies.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: 21 yrs. old and above with Marketing Executive work experience. Salary Range: Php 30,000 - Php 59,999

No.

51.

Basic Qualification: 21 yrs. old and above with Marketing Executive work experience. Salary Range: Php 30,000 - Php 59,999

52.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

SHEN, XINWEI Chinese Customer Service Brief Job Description: Customer support and data base services.

GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

SOMNAO, RUTCHANOK Thai Customer Service Representative 38.

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

Basic Qualification: Proficient in speaking, reading, and writing in English and their respective native language for the position applied for and fluent in Chinese Mandarin language is an advantage.

53.

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

39.

WANG, JINTAN Chinese Customer Service Representative

Basic Qualification: Foreign language speaking.

Brief Job Description: Manage large amount of incoming calls.

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

YANG, HUANGLIAN Chinese Finance Manager 40.

Brief Job Description: Perform data analysis and advise senior managers on profit-maximizing ideas. YANG, JINLIANG Chinese Finance Manager

41.

Brief Job Description: Perform data analysis and advise senior managers on profit-maximizing ideas. CHEN, TENGHUI Chinese Financial System Manager

42.

Brief Job Description: Perform data analysis and advise senior managers on profit-maximizing ideas. CHEN, ZHITU Chinese Financial System Manager

43.

Brief Job Description: Perform data analysis and advise senior managers on profit-maximizing ideas. WANG, GUOKUN Chinese Financial System Manager

44.

45.

Brief Job Description: Analyzing, troubleshooting and evaluating technology issues.

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

49.

Brief Job Description: To support network business development consulting services via the data analytical and analysis. Perform integration of business and technology analysis for Telco business.

56.

57.

Basic Qualification: Foreign language speaking. Salary Range: Php 60,000 - Php 89,999

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

58.

Brief Job Description: Has the responsibility for daily people leadership in smaller sub teams, focusing on specific sub processes or geographies.

Brief Job Description: Customer support and data base services.

NGUYEN, THANH YEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

TSAN MINH DUC Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

XU, JUNMING Technical Consultant For Chinese Client 59.

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

No.

67.

Brief Job Description: We are seeking a versatile technical consultant to assess and maintain our information technology systems.

XU, YUPING Technical Consultant For Chinese Client

Salary Range: Php 60,000 - Php 89,999 60. Basic Qualification: Foreign language speaking. Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Foreign language speaking. Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Must have a bachelor’s degree in automation or IT/Computer science or any other related courses preferably with master’s degree an advantage. Highly proficient in Chinese and English languages.

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

68.

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.

61.

62.

63.

65.

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

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

66.

ALIKA PUTRI SELVARIANI Call Center Agent Brief Job Description: Customer service.

CHAO, WEI-WEN Call Center Agent Brief Job Description: Customer service.

CHO, SHIH-CHIEH Call Center Agent Brief Job Description: Customer service.

CHONG SHAW CHUNG Call Center Agent Brief Job Description: Customer service.

HAN, WEIXING Call Center Agent Brief Job Description: Customer service.

JORDI TANTRA Call Center Agent Brief Job Description: Customer service.

KHO WAN YING Call Center Agent Brief Job Description: Customer service.

69.

70.

71.

KIM, DONGBEEN Call Center Agent Brief Job Description: Customer service.

KIM, GEONTAE Call Center Agent Brief Job Description: Customer service.

LAI, WEN-CHUN Call Center Agent Brief Job Description: Customer service.

LE TIEN DAT Call Center Agent

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

Brief Job Description: Customer service.

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

LIN, WEI-CHEN Call Center Agent

72.

Brief Job Description: Customer service.

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

73.

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: Excellent problem solving, communication, and team working skills.

74.

75.

76.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Extensive experience as a technical consultant in a related industry.

77.

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

Basic Qualification: Extensive experience as a technical consultant in a related industry.

78.

LIU, TE-LI Call Center Agent Brief Job Description: Customer service.

LYU, FENGYAN Call Center Agent Brief Job Description: Customer service.

MA, XINPO Call Center Agent Brief Job Description: Customer service.

NGUYEN THI QUYNH HUONG Call Center Agent Brief Job Description: Customer service.

ONG WEI SIANG Call Center Agent Brief Job Description: Customer service.

RACHMAD CAESARIO BAGASKARA Call Center Agent Brief Job Description: Customer service.

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

NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors, Century Diamond Center, Poblacion, City Of Makati

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

Basic Qualification: Fluent in Spanish and English languages.

Brief Job Description: We are seeking a versatile technical consultant to assess and maintain our information technology systems.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

Basic Qualification: Foreign language speaking.

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

50.

CHONG KAI SHENG Malaysian Customer Service

SHI, FEILUN Research Analyst For Chinese Clients

64.

CORRALES SOLORZANO, LUIS EDUARDO Team Manager, OTC

Brief Job Description: Customer support and data base services.

ESTABLISHMENT / ADDRESS

NEW PRIME INDOOR CONSULTANCY CORP. Shop 2 No. 319, San Nicolas Street, Barangay 284, San Nicolas, City Of Manila

Basic Qualification: Foreign language speaking.

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

THAM THIM TUK Business Design & Planning Manager For PLDT Business Success Consulting Services

RAY, RANADA PRASAD Customer Service Representative

Basic Qualification: Foreign language speaking.

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

SEO, SEONGBEEN Korean IT Support Specialist 48.

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

SURYA SAPUTRA Indonesian IT Support Specialist

SEO, MYUNG SHIN Korean IT Support Specialist 47.

Basic Qualification: Foreign language speaking.

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

Brief Job Description: Maintaining hardware and software installations.

55.

Brief Job Description: Customer support and data base services.

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

Brief Job Description: Perform data analysis and advise senior managers on profit-maximizing ideas.

PARK, DONGKI Korean IT Support Specialist 46.

Basic Qualification: Foreign language speaking.

54.

ZHOU, XUN Chinese Customer Service

Wednesday, January 17, 2024

79.

RIBKA SARI DEVI SINAGA Call Center Agent Brief Job Description: Customer service.

Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999

80.

Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language.

81.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language.

82.

RICHARD STAVIDIF Call Center Agent Brief Job Description: Customer service.

SHINDY PRATIWI Call Center Agent Brief Job Description: Customer service.

TEGUH DARMAWAN Call Center Agent Brief Job Description: Customer service.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language.

83.

TEO HONG PENG Call Center Agent Brief Job Description: Customer service.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999

84.

VU THU THAO Call Center Agent Brief Job Description: Customer service.

QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999

A6 A8

BusinessMirror

Wednesday, January 17, 2024

ESTABLISHMENT / ADDRESS No.

85.

86.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WOO, SANGYUN Call Center Agent Brief Job Description: Customer service.

ZHANG, LI Call Center Agent Brief Job Description: Customer service.

QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate/level and fluent in Mandarin/basic English language.

No.

LUU XUAN TRI Vietnamese Language - Marketing Supervisor 102.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/basic English language. Salary Range: Php 30,000 - Php 59,999

87.

HU, JINHAI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

103.

GAN, ZHIYUAN Mandarin Customer Service 88.

Brief Job Description: Maintains customer records by updating account info. SHEN, YANFANG Mandarin Customer Service

89.

Brief Job Description: Maintains customer records by updating account information. WANG, MEIWAN Mandarin Customer Service

90.

91.

92.

93.

94.

Brief Job Description: Maintains customer records by updating account info. HUANG, HSIAO-WEI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

JIN, SHI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

LUONG, HUE MINH Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

ZHENG, WEIWEI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

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

95.

Brief Job Description: Create specific promotions for affiliates.

ANGGI JASICA KALALO Indonesian Language - Support Officer 96.

Brief Job Description: Assist in the planning & administration of the organization’s daily operations. Providing information, assistance & support. Assist with the preparation of reports. Escalating complex issues to management.

ERYES AGUSTIA GINTING Indonesian Language - Support Officer 97.

Brief Job Description: Assist in the planning & administration of the organization’s daily operations. Providing information, assistance & support to customers. Assist with the preparation of reports, Escalating complex issues to management.

CHUASUWAN, KEMMANITJAREE Thai Language - Support Officer 98.

KATEKRAM, KOMNATE Thai Language - Support Officer 99.

100.

101.

NGUYEN LE HA VY Vietnamese Language - Marketing Officer Brief Job Description: Create specific promotions for affiliates.

PHAM NGUYEN PHUONG THAO Vietnamese Language - Marketing Officer Brief Job Description: Create specific promotions for affiliates.

105.

Brief Job Description: Assist in the planning & administration of the organization’s daily operation.

BENJAMIN LAU SIE KIONG Customer Relation Representative (Mandarin Translation) 106.

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

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

Basic Qualification: Must fluently speak and write Indian language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree holder. Must fluently speak and write Bahasa Indonesian language. Can work under pressure.

ZHANG, CHENGGANG Mandarin Web Developer 107.

Brief Job Description: Create website layout/user interface by using standard HTML/CSS practices.

JENICA Assistant Business Operations Lead 108.

CERTINNA Senior Business Operations Analyst 109.

Brief Job Description: Resolve issues and give information when appropriate to solve issues effectively and promptly.

HOU, WEIMIN Chinese Speaking Back-end Engineer 110.

Brief Job Description: Responsible for maintaining the server side of web applications.

AYE AYE MOE Mandarin Speaking Customer Relation Representative 111.

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

HA THUY TIEN Mandarin Speaking Customer Relation Representative 112.

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

Basic Qualification: Bachelor’s degree holder Must fluently speak and write Vietnamese language. Can work under pressure.

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

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

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

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

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

Basic Qualification: Fluently speak and write Vietnamese language. Salary Range: Php 60,000 - Php 89,999

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

118.

119.

120.

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

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

Basic Qualification: Must have at least 5 years of work experience in the performance field in an integrated resort.

Brief Job Description: Provide guest services as well as supervision direction and leadership at the VIP reception areas and to casino groups in accordance with company.

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

VICCI BUSINESS CONSULTANCY CORP. 10/f Liberty Plaza, 102 H.v. Dela Costa St., Bel-air, City Of Makati LUO, LIFENG Customer Relation Representative (Mandarin Translation) Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation. WANG, KAIHUAI Customer Relation Representative (Mandarin Translation) Brief Job Description: Ha Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation. WONG CHUNG HAO Customer Relation Representative (Mandarin Translation) 123.

Basic Qualification: Fluency in English and Mandarin languages is essential or native speaker of Bahasa Indonesia.

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

WONG KAI LUN Customer Relation Representative (Mandarin Translation) 124.

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

YANG, FUHAI Customer Relation Representative (Mandarin Translation)

Basic Qualification: Back-end engineer work experience.

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

LIU, SHU VIP Reception Manager

Basic Qualification: Fluency in English and Mandarin languages is essential or native speaker of Bahasa Indonesia.

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

TIGER RESORT, LEISURE AND ENTERTAINMENT, INC. Okada Manila, New Seaside Drive, Entertainment City, Tambo, City Of Parañaque

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

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

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

WANG, ZEYUAN Mandarin System And Support Specialist

Basic Qualification: Knowledgeable in creating website layout/user interface by using standard HTML/CSS practices.

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

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

SU, YI-HSIANG Mandarin System And Support Specialist

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

125.

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

YENNY Customer Relation Representative (Mandarin Translation) 126.

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

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

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

ZHANG, ZHIYONG Customer Relation Representative (Mandarin Translation) 127.

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

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

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

VISSIONARIES INC. 20/f Salcedo Towers, 169 H.v. Dela Costa St., Bel-air, City Of Makati THI THI AUNG Mandarin Speaking Customer Relation Representative 113.

Brief Job Description: Handles service support calls, emails, and chats from inquiry from a client and/or customers through Mandarin to English language translation.

CHIANG, PEI-TZU Mandarin System And Support Specialist 114.

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

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

ZHANG, LIANG Recruitment Specialist (Chinese Speaking) 128.

Brief Job Description: Connecting with potential candidates online and offline, screening applications.

Basic Qualification: Graduate of any college course and preferably 6 months to 1 year work experience in the same industry. Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jan 16, 2024

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.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write Vietnamese language to cater foreign nationals.

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

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

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

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

Basic Qualification: Must fluently speak and write Vietnamese language.

117.

SUPERCHAIN INCORPORATED Unit 1109-1110 11/f Ayala Tower One & Exchange Plaza, Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

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

Basic Qualification: Bachelor’s degree holder. Must fluently speak and write in Thai language. Can work under pressure.

Brief Job Description: Resolve issues and give information when appropriate to solve issues effectively and promptly.

QUALIFICATION AND SALARY RANGE

MAI, WEI-PONG Mandarin System And Support Specialist

122.

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

Basic Qualification: Bachelor’s degree holder. Must fluently speak and write in Thai language. Can work under pressure.

116.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Bachelor’s degree holder Must fluently speak and write Vietnamese language. Can work under pressure.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, CAILING Mandarin System And Support Specialist

SPARVA INCORPORATED 7/f Insular Life Bldg., 6781 Ayala Ave., Cor. Paseo De Roxas, Bel-air, City Of Makati

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

Basic Qualification: Bachelor’s degree holder. Must fluently speak and write Bahasa Indonesian language. Can work under pressure.

Basic Qualification: Must fluently speak and write Vietnamese language to cater foreign markets.

No.

121.

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

QUALIFICATION AND SALARY RANGE

SOLIDLEISURE SOLUTIONS INC. Unit 1803a, 1803b, 1804a, 1804b & 1805a West Tower, Psec Exchange Road, Ortigas Center, San Antonio, City Of Pasig

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

ESTABLISHMENT / ADDRESS

SEEKTOP SERVICE MANAGEMENT INC. 25/f Alphaland Corporate Tower, 7232 Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati

Basic Qualification: Can speak Mandarin language.

PHOENIXFIELD, INC. 7/f Iacademy Plaza, 324 Sen. Gil Puyat Ave, Bel-air, City Of Makati MOHAMMAD IMRAN Indian Language - Marketing Officer

104.

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

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

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

Brief Job Description: Identify, develop, and implement new strategies for selling products or services. CAO THI KIM LOAN Vietnamese Language - Support Officer

OCEANIC SYMPHONY SERVICES INC. 17/f Alphaland Corporate Tower, 7232 Ayala Ave. Extn., Cor Malugay St., Bel-air, City Of Makati Basic Qualification: Can speak Mandarin language.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

HUANG, LU-YI Mandarin System And Support Specialist 115.

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

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

News

BusinessMirror

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

Wednesday, January 17, 2024 A9

Palace ready to defend constitutionality of unprogrammed funds in 2024 GAA By Jovee Marie N. Dela Cruz

@joveemarie

group of lawmakers challenged before the Supreme Court (SC) Tuesday the constitutionality of the “staggering” excess of P449,540,510,000 allocated in the unprogrammed appropriations “discreetly embedded” in the 2024 General Appropriations Act (GAA) or RA No. 11975.

Albay Rep. Edcel Lagman filed the petition for certiorari and prohibition, docketed as G.R. No. 271059, on Monday, alongside copetitioners Rep. Gabriel Bordado Jr. and Rep. Mujiv Hataman. Malacañang, for its part, said it is ready to defend its position before the SC on the alleged unconstitutional unprogrammed funds of the 2024 GAA. “The Executive Department will answer accordingly if required by the Supreme Court,” Presidential Communications Office (PCO) Secretary Cheloy V. Garafil said in a brief statement on Tuesday. Named respondents are Senate President Juan Miguel Zubiri, House Speaker Martin Romualdez, Senate Finance Committee chairman Sen. Sonny Angara, House Appropriations chairman Ako Bicol Rep. Elizaldy Co, Executive Secretary Lucas Bersamin, Budget Secretary Amenah Pangandaman, and National Treasurer Rosalia De Leon. T he lawmakers said the President’s National Expenditure Program (NEP) proposed a cap of only P281,908.056,000 for unprogrammed appropriations, a ceiling that Congress is explicitly

prohibited from surpassing under Sec. 25 (1) of Article VI of the 1987 Constitution. The lawmakers said this provision unequivocally states, “The Congress may not increase the appropriations recommended by the President for the operation of the government as specified in the budget.” The petitioners said the constitutional prohibition extends to both programmed and unprogrammed appropriations, restricting Congress from exceeding the total proposed by the President in the NEP. They also said unprogrammed appropr iations are integral components of the total national expenditures. “ The excess of P449.5 billion over the P289.1 billion proposed by the President for unprogrammed appropriations is an unconstitutional act of the Congress that is tainted with grave abuse of discretion amounting to a lack or excess of congressional jurisdiction, and perforce must be nullified,” said the lawmakers. The petitioners seek several reliefs from the Supreme Court: (1) The issuance of a Temporary

Restraining Order (TRO) or a Writ of Preliminary Injunction to restrain respondents from funding, releasing, and implementing the constitutionally infirm excess appropriation of P449.5 billion; (2) A decision nullifying the challenged excess of P449.5 billion in unprogrammed appropriations embedded in the 2024 General Appropriations Act and (3) A Writ of Prohibition permanently restraining respondents from funding, releasing, and implementing the excess items of expenditure consisting of P449.5 billion. T he petitioners stressed that the Constitution does not distinguish between programmed and unprogrammed appropriations in imposing the ban. They argued that the excess in unprogrammed appropriations is constitutionally flawed, describing it as an “expenditure outlay outside of the Constitution” that must be rectified. Earlier, House Committee on Appropriations Chairman Elizaldy Co has said the increase in unprogrammed funds is aimed at anti-inflationary measures for near-poor Filipino citizens. Expressing optimism about excess revenues, Co underscored the significance of unprogrammed funds, which, according to him, would directly benefit near-poor Filipino citizens. He said that unprogrammed funds are not a novel concept and expressed hope for surplus revenues to expand assistance programs for Filipinos. The focus on social services balance is a key aspect of this year’s budget as Co outlined various priorities, including programmed initiatives like the Ayuda sa Kapos ang Kita Program, Assistance to Individuals in Crisis Situations, free medical assistance, 4PH housing, legacy projects for specialty hospitals, and certain loan payments. With Samuel P. Medenilla

Beijing bristles as Marcos cheers Taiwan poll winner Continued from A14

Grateful Taiwan

MEANWHILE, Lai immediatel replied to Marcos Jr.’s tweet, saying, “Thank you, President @bongbongmarcos for your congratulations. I deeply value the enduring friendship between #Taiwan & the #Philippines. I look forward to enhancing our economic and people-to-people ties while championing democracy, peace & prosperity in the region.” Taiwan’s Foreign Ministry thanked Marcos. “Our gratitude to #Philippines President @ bongbongmarcos for congratulating #Taiwan’s President-elect @ChingteLai. We, too, eagerly anticipate fostering an increasingly robust partnership to promote our nations’

shared interests as well as #IndoPacific peace & prosperity,” the ministry said. Manila Economic and Cultural Office (Meco) Chairman and Resident Representative Silvestre Bello III hopes that with the election of Lai, all the goodwill and cooperation between the Philippines and Taiwan under the ruling Democratic Progressive Party (DPP) would continue.

China summons PHL envoy

IN Beijing, Chinese Foreign Assistant Minister Nong Rong summoned Philippine Ambassador Jaime FlorCruz to express China’s “serious” protest for allegedly violating the One-China policy. “The Chinese side is strongly dissatisfied and resolutely opposes this.... This morning,

Assistant Minister Nong Rong summoned the ambassador of the Philippines to China to make solemn representations and urge the Philippine side to give the Chinese side a responsible explanation,” China’s foreign ministry spokeswoman Mao Ning told a regular press conference. Mao reiterated China’s stern warning to “anyone in the international community who violates the one-China” will face the “joint opposition of the Chinese people and the international community.” China, she added, “deplores and strongly opposes relevant countries’ wrong practices violating the one-China principle, including issuing statements and ‘expressing congratulations.’ We’ve lodged serious démarches.”

DOJ SETS CRACKDOWN ON B.I. LAWYERS IN 9G VISA SCANDAL Continued from A14 He said the 9G visas were actually used to bring in more foreign nationals into the country, particularly those working in the Philippine Offshore Gaming Operators (POGOs) sector. Remulla directly implicated the BI’s legal department in the anomaly, noting some of its lawyers knowingly issued 9G visas to these fake corporations without validating their documents with the Securities and Exchange Commission (SEC). “Corporations which are fake were

able to get 9G visas from the Bureau of Immigration and its was with the help of the legal department…,” Remulla said. “Meaning to say, most probably in cahoots because we are talking about due diligence as a matter of government policy in every transaction,” he said. Thus, Remulla said, he directed Tansingco to stop the grant of visas to sole proprietorships. He also instructed the BI to issue 9G visas only to corporations with the SEC’s approval. “I will be asking for a fuller investigation and that’s what we discussed yesterday

[Monday],” the DOJ chief said. Remulla noted that he started receiving information about the illegal activity since August of last year, and validated the information in October. But, Remulla noted, the BI leadership was too slow to have the visa processing group reorganized without the involvement of the legal office, which he said was “in the center of the issuance of these visas.” The justice secretary said he would give Tansingco until the end of January to address the issue. Joel R. San Juan

A10 Wednesday, January 17, 2024

TheWorld BusinessMirror

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

Iran strikes targets in northern Iraq and Syria as regional clash escalates By Qassim Abdul-Zahra & Salar Salim The Associated Press

RBIL, Iraq—Iran fired missiles late Monday at what it claimed were Israeli “spy headquarters” near the US Consulate in the northern Iraqi city of Irbil, and at targets linked to the extremist group Islamic State in northern Syria. Four civilians were killed and six injured after missiles hit an upscale area near the consulate in Irbil, the seat of Iraq’s semiautonomous Kurdish region, according to the security council of the Kurdish regional government. Iran’s Revolutionary Guards said in a statement that it had hit a headquarters of Mossad, the Israeli intelligence agency, in the Kurdish region of Iraq. Another statement said it had fired

a number of ballistic missiles at “terrorist operations,” including Islamic State targets, in Syria and destroyed them. Israel did not immediately acknowledge the attack in Irbil and its embassy in Washington did not return a request for comment on the Iranian allegation regarding the Mossad. The strikes come at a time of heightened tensions in the region and fears of a wider spillover of the

THIS image taken from a video provided by Rudaw TV shows smoke rising from a building hit by a strike in Irbil, Iraq on Tuesday, January 16, 2024. Iran has announced that it launched strikes against a “spy headquarters and the gathering of anti-Iranian terrorist groups” shortly after missiles hit an area near the US consulate in Irbil, the seat of Iraq’s semi-autonomous Kurdish region. RUDAW TV VIA AP

ongoing war in Gaza. Since the outbreak of the Israel-Hamas war on October 7, Iranian-backed militias in Iraq have launched near-daily drone attacks on bases housing US forces in Iraq and Syria, which the groups have said was in retaliation for Washington’s support of Israel, and in an attempt to force US troops to leave the region. The United States strongly

condemns “Iran’s reckless missile strikes” in Irbil, said State Department spokesman Matthew Miller. He said the attacks “undermine Iraq’s stability.” A US defense official who spoke on condition of anonymity to discuss details that had not been made public said the US tracked the missiles, which hit in northern Iraq and northern Syria, and no US facilities were struck or

damaged in the attacks. The official said initial indications were that the strikes were “reckless and imprecise.” However, the full extent of the damage from the strikes could not be independently assessed. An Iraqi security official said Irbil was targeted with “several” ballistic missiles but did not give further details. An official with an Iranian-backed Iraqi militia said 10 missiles fell in the area near the US Consulate. He said the missiles were launched by Iran’s Revolutionar y Guards. Both officials spoke on condition of anonymity. Peshraw Dizayi, a prominent local businessman with a portfolio that included real estate and security services companies, was killed in one of the Irbil strikes along with members of his family, according to a post on X, formerly known as Twitter, by Mashan alJabouri, a former Iraqi member of parliament. Al-Jabouri said that one of the missiles had fallen on Dizayi’s “palace, next to my house, which is under construction on the road to the Salah al-Din resort.”

Other regional political figures also confirmed Dizayi’s death. In 2022, Iran claimed responsibility for a missile barrage that struck in the same area near the sprawling US Consulate complex in Irbil, saying it was retaliation for an Israeli strike in Syria that killed two members of its Revolutionary Guard. Iran’s strike in northern Syria late Monday came after the Islamic State group claimed responsibility earlier this month for two suicide bombings targeting a commemoration for an Iranian general slain in a 2020 US drone strike. The attack in Kerman killed at least 84 people and wounded an additional 284 at a ceremony honoring Revolutionary Guard Gen. Qassem Soleimani. Last month, Iran accused Israel of killing a high-ranking Iranian general, Seyed Razi Mousavi, in an airstrike on a Damascus neighborhood. The Associated Press staff writers Tara Copp in Washington and Abby Sewell in Beirut contributed to this report.

Israeli soldiers exchange fire along border with Egypt as tensions rise By The Associated Press

SRAEL said one of its troops was “slightly injured” in an exchange of fire along the country’s border with Egypt, which Cairo attributed to drug smuggling. One person in Egypt was killed. Ties between the two countries have been strained since the Israel-Hamas war began. Israel’s defense minister said Monday that the intense Israeli military offensive in the southern Gaza Strip will soon be scaled back, but he is ruling out a cease-fire. More than 100 days into Israel’s war against Hamas, Palestinian authorities said the death toll in the enclave passed 24,000. The October 7 Hamas attack from Gaza into southern Israel that triggered the war killed around 1,200 people and saw some 250 others taken hostage by militants. The Israeli soldier who was hit “was evacuated to a hospital to receive medical treatment and her family has been informed,” the military said. The Israeli military did not identify the suspects. An Egyptian military statement on Tuesday described the suspects involved as trying to smuggle drugs. It said one person was killed and six people

ISRAELI soldiers fire a mobile howitzer in the north of Israel, near the border with Lebanon on Monday, January 15, 2024. AP/OHAD ZWIGENBERG

were arrested afterwards. Egypt and Israel have had a peace deal since 1979, but Israel’s months long war against Hamas in the Gaza Strip has strained ties. At a news conference Monday, Israel ’s defense minister Yoav Gallant said Israel recently ended its intensive ground operation in northern Gaza after taking military control of the area. He said he expected similar results in the south as well. “It will end soon,” he said. “In both places we will reach the moment for the next stage.” The statement comes a day after the White House called on Israel

to curtail its offensive. Gallant gave no details on timing and said Israel is still targeting Hamas’ leaders. He called them the “head of the snake” and said they are believed to be hiding in Khan Younis, the southern city where the offensive has been focused in recent weeks. Gallant also ruled out a ceasefire, saying military pressure is the only way to win the release of the more than 100 hostages still in Hamas captivity. “O n ly f rom a posit ion of strength can we ensure the release of hostages,” he said. Meanwhile, United Nations Secretary-General Antonio Guterres

says Gaza faces “the long shadow of starvation” and the risk of disease outbreaks because of barriers to delivering vital aid. Guterres did not mention Israel by name in his remarks Monday, but blamed the inability to meet Gaza’s growing humanitarian needs on widespread bombardment, barriers to entering the territory and restrictions on distribution inside of it—all under Israel’s control. He said he was “deeply troubled by the clear violation of international humanitarian law that we are witnessing.” Israeli officials have denied hindering aid delivery, saying the UN needs to provide more workers and trucks. But Guterres said the UN and its partners “cannot effectively deliver humanitarian aid while Gaza is under such heavy, widespread and unrelenting bombardment.” He pointed to the deaths of 152 UN staffers in Gaza since the start of the war, “the largest single loss of life in the history of our organization.” He called for an immediate humanitarian cease-fire and the release of all hostages captured by Hamas in its October 7 rampage into southern Israel, which triggered the war.

North Korea will no longer pursue reconciliation with South because of hostility, Kim Jong Un says By Kim Tong-Hyung The Associated Press

EOUL, South Korea—North Korean leader Kim Jong Un said his country would no longer pursue reconciliation with South Korea and called for rewriting the North’s constitution to eliminate the idea of shared statehood between the wardivided countries, state media said Tuesday. The historic step to discard a decadeslong pursuit of a peaceful unification, which was based on a sense of national homogeneity shared by both Koreas, comes

amid heightened tensions where the pace of both Kim’s weapons development and the South’s military exercises with the United States have intensified in a tit-for-tat. Some experts say Kim could be aiming to diminishing South Korea’s voice in regional security matters and communicate more clearly that he would seek to deal directly with the United States over the nuclear standoff, which has deepened amid disagreements over the stringent US-led sanctions over his growing nuclear weapons program. Declaring the South as a permanent

adversary, not as a potential partner for reconciliation, could also be part of efforts to improve the credibility of Kim’s escalatory nuclear doctrine, which authorizes the military to launch preemptive nuclear attacks against adversaries if it perceives the leadership in Pyongyang as under threat. The North Korean steps come as Kim has been actively boosting his partnerships with Moscow and Beijing as he attempts to break out of diplomatic isolation and increase his leverage by joining a united front against Washington. North Korea also abolished the key

government agencies that had been tasked with managing relations with South Korea during a meeting of the country’s rubber-stamp parliament on Monday, the Nor th’s official Korean Central News Agency said. The Supreme People’s Assembly said the two Koreas are locked in an “acute confrontation” and that it would be a serious mistake for the North to regard the South as a partner in diplomacy. AP journalist Jiwon Song contributed to this report.

VOLODYMYR ZELENSKYY, right, President of Ukraine, attends a joint press conference with Swiss Federal President Viola Amherd, left, after a meeting in Kehrsatz near Bern, Switzerland on Monday, January 15, 2024. Zelenskyy will attend the World Economic Forum in Davos starting Tuesday. ALESSANDRO DELLA VALLE/KEYSTONE VIA AP

Zelenskyy takes center stage in Davos as he urges support for Ukraine’s fight By Jamey Keaten

The Associated Press

AVOS, Switzerland—Ukrainian President Volodymyr Zelenskyy is headlining a frenzied first full day of the World Economic Forum’s annual meeting in the Swiss ski resort of Davos, where top officials from the United States, the European Union, China, the Middle East and beyond will also be prominent Tuesday. Zelenskyy will endeavor to keep his country’s long and largely stalemated defense against Russia on the minds of political leaders, just as Israel’s war with Hamas, which passed the 100-day mark this week, has siphoned off much of the world’s attention and sparked concerns about a wider conflict in the Middle East. Tuesday’s activities got rolling with a dizzying array of subjects in rooms at the Davos conference center, where discussions tackled issues as diverse as innovation in Europe, the economic impact of generative AI, corporate support for clean technologies and the interest-rate environment. Conversations with the prime ministers of Qatar and Jordan will bookend the day’s most visible events, with speeches by Chinese Premier Li Qiang, European Commission President Ursula von der Leyen and the United States national security adviser Jake Sullivan in between. Zelenskyy, once reticent about leaving his war-torn country, has recently gone on a whirlwind tour to try to rally support for Ukraine’s cause against Russia amid donor fatigue in the West and concerns that former US President Donald Trump—who

touted having good relations with Russian President Vladimir Putin—might return to the White House next year. On Monday, Zelenskyy made a stop in Switzerland’s capital, Bern, where President Viola Amherd pledged her country would start working with Ukraine to help organize a “peace summit” for Ukraine. Zelenskyy is following that up with his first trip to Davos as president after speaking by video in previous years. He hopes to parlay the high visibility of the event into a bully pulpit to showcase Ukraine’s pressing needs, and allies will be lining up: A morning, invitation-only “CEOs for Ukraine” session will precede his afternoon speech. The corporate chiefs will hear “what kind of immediate assistance is needed” and lay out how private and public sectors can help Ukraine rebuild one day, forum organizers say. The session will draw NATO leader Jens Stoltenberg, German Vice Chancellor Robert Habeck and the US envoy for Ukraine’s economic recovery, Penny Pritzker, among others. Later Tuesday, leaders of some of Ukraine’s key European allies—Lithuanian President Gitanas Nauseda, Dutch Foreign Minister Hanke Bruins Slot and Spanish Foreign Minister José Manuel Albares Bueno—will participate in a session on the “horizons” for Ukraine. The theme of the meeting in Davos is “rebuilding trust,” and it comes as that sentiment has been fraying globally: Wars in the Middle East and Europe have increasingly split the world into different camps.

TheWorld BusinessMirror

www.businessmirror.com.ph

Wednesday, January 17, 2024 A11

UN agency chiefs say Gaza needs faster aid delivery amid warning of famine and disease By Najib Jobain, Samy Magdy & Tia Goldenberg

AFAH, Gaza Strip—Gaza urgently needs more aid or its desperate population will suffer widespread famine and disease, the heads of three major UN agencies warned Monday, as authorities in the enclave reported that the death toll in the Israel-Hamas war had surpassed 24,000. While the UN agency chiefs did not directly point a finger at Israel, they said aid delivery is hobbled by the opening of too few border crossings, a slow vetting process for trucks and goods going into Gaza, and continuing fighting throughout the territory—all of which Israel plays a deciding factor in. Israel’s war against Hamas in Gaza, sparked by the militant group’s October 7 attack on southern Israel, has prompted unprecedented destruction in the tiny coastal enclave and triggered a humanitarian catastrophe that has displaced most of Gaza’s 2.3 million population and pushed more than a quarter into starvation, according to the UN. It has also stoked regional tensions, with Iran-backed groups in Lebanon, Syria, Iraq and Yemen carrying out strikes in support of the Palestinians. A missile fired by Yemen’s Houthi rebels hit an American-owned cargo ship on Monday, days after US-led strikes against the group over its attacks

on international shipping. In Gaza, civilians have grown desperate. Footage shared online by Al Jazeera showed hundreds of people rushing toward what appeared to be an aid truck in what the news outlet said was Gaza City. The Associated Press couldn’t independently verify the video and it wasn’t clear when it was filmed. T he World Food Prog ra m, UNICEF and the World Health Organization said Monday that new entr y routes need to be opened to Gaza, more trucks need to be allowed in each day, and aid workers and those seeking aid need to be allowed to move around safely. UN Secretary-General Antonio Guterres said UN agencies and their partners “cannot effectively deliver humanitarian aid while Gaza is under such heavy, widespread and unrelenting bombardment.” He said the deaths of 152 UN staffers in Gaza since the start of the war is “the largest single loss of life in the history of our organization.”

Trump notches a commanding win in the Iowa Caucuses; DeSantis edges Haley for 2nd place By Steve Peoples, Thomas Beaumont & Hannah Fingerhut The Associated Press

ing Israeli arrest raids or violent protests.

The Associated Press

ES MOINES, Iowa—Former President Donald Trump scored a recordsetting win in the Iowa caucuses on Monday with his rivals languishing far behind, a victory that affirmed his grip on the 2024 Republican presidential nomination. In what was the lowest-turnout caucus in a quarter-century, participants endured life-threatening cold and dangerous driving conditions to meet in hundreds of schools, churches and community centers across the state. But those who ventured out delivered a roughly 30-point win for Trump that smashed the record for a contested Iowa Republican caucus with a margin of victory exceeding Bob Dole’s nearly 13-percentagepoint victory in 1988. Florida Gov. Ron DeSantis finished a distant second, just ahead of former UN Ambassador Nikki Haley. The results left Trump with a tighter grip on the GOP nomination, though it could take several more months for anyone to formally become the party’s standard bearer. The magnitude of Trump’s victor y, however, posed significant questions for both DeSantis and Haley. Neither candidate appeared poised to exit the race, though they leave Iowa struggling to claim making much progress in trying to become Trump’s strongest challenger. Having repeatedly vowed vengeance against his political opponents in recent months, Trump offered a message of unity in his victory speech. “We want to come together, whether it’s Republican or Democrat or liberal or conser vative,” he said. “We’re going

to come together. It’s going to happen soon.” The GOP contest moves swiftly to New Hampshire, which will hold the first-in-thenation primary on January 23. A shrinking field will compete there after conservative entrepreneur Vivek Ramaswamy suspended his campaign after a disappointing fourth place finish and endorsed Trump. DeSantis first heads to South Carolina on Tuesday, a conservative stronghold where the February 24 contest could prove pivotal. He will head later in the day New Hampshire. “Because of your support, in spite of all of what they threw at us, we got our ticket punched out of Iowa,” DeSantis told supporters. Haley plans to compete vigorously in New Hampshire, where she hopes to be more successful with the state’s independent voters. “When you look at how well we’re doing in New Hampshire and in South Carolina and beyond, I can safely say tonight Iowa made this Republican primary a two-person race,” she said. In a preview of a remarkable balancing act Trump may have to manage in the months ahead, he was expected to be in court in New York on Tuesday. A jury is poised to consider whether he should pay additional damages to a columnist who last year won a $5 million jury award against Trump for sex abuse and defamation. It’s just one of multiple legal challenges facing the former president. Peoples reported from Washington. Beaumont reported from Indianola, Iowa, and Fingerhut reported from Des Moines, Iowa. Associated Press writers Jill Colvin in Des Moines, Iowa, Meg Kinnard in Clive, Iowa, Adriana Gomez Licon in Des Moines, Iowa, and Bill Barrow in Atlanta contributed to this report.

Hamas says 2 hostages killed in airstrikes

PALESTINIANS look at the destruction after an Israeli strike at a residential building in Deir al Balah, Gaza Strip on Sunday, January 14, 2024. AP/ADEL HANA

Death toll rises

THE Health Ministry in Hamasruled Gaza said Monday that the bodies of 132 people killed in Israeli strikes were brought to Gaza hospitals over the past day, raising the death toll from the start of the war to 24,100. The ministry, which doesn’t distinguish between fighters and noncombatants in its tally, says two-thirds of those killed in the war were women and children. Israel says its forces have killed roughly 8,000 militants, without providing evidence. Israel blames Hamas for the h ig h Pa lest i n i a n deat h tol l , saying its fighters make use of civilian buildings, and launch attacks from densely populated urban areas. On Monday, the military said its forces and aircraft targeted militants in the second-largest city Khan Younis in southern Gaza, a current focus of the ground offensive, as well as in northern Gaza, where the Israeli military says it continues to expand its control.

A day after the W hite House said it was time for Israel to curtail its militar y offensive, Israel Defense Minister Yoav Gallant said the intense offensive in southern Gaza w ill soon be scaled back once Israel takes militar y control of the area. In Israel, a woman was killed and 12 other people were wounded in a car-ramming and stabbing attack in a suburb of Tel Aviv that police said was carried out by at least two Palestinians. They were later arrested. The suspects stole three different cars and attempted to run down pedestrians, police said. Hamas praised the attack, but neither it nor other Palestinian armed groups claimed responsibility for it. Palestinians have carried out a number of attacks against Israelis since the start of the war, mainly in Jerusalem or the occupied West Bank. Around 350 Palestinians have been killed by Israeli forces in the West Bank, according to the Palestinian Health Ministry, mostly in confrontations dur-

THE war began on October 7, when a Hamas-led surprise attack into Israel killed some 1,200 people, mostly civilians. The militants captured around 250 people and are still holding nearly half of them after releasing more than 100 in exchange for Palestinians imprisoned by Israel during a November cease-fire. Hamas released a video late Monday showing three hostages – Noa Argamani, 26, Yossi Sharabi, 53, and Itay Svirsky, 38. It includes brief individual statements from all three, likely speaking under duress, in which they call on Israel to halt the war and say they have little food and water and are in danger from Israeli airstrikes. Later in the video, Argamani says separate airstrikes killed Sharabi and Svirsky and that she herself was wounded. Footage then shows what appear to be the bodies of Sharabi and Svirsky. Rear Adm. Daniel Hagari, the Israeli military spokesman, said the army had told the families of Svirsky and another hostage that it was “very concerned” over whether they were still alive. He said Israel had struck a building near where the hostages were being held but did not know their location at the time. Gallant, Israel’s defense minister, said Monday that military pressure is the only way to win the release of the remaining hostages, and he ruled out a cease-fire.

Unprecedented humanitarian crisis

THE fighting, now in its 101st day,

has set off an unprecedented humanitarian crisis in Gaza, which was already struggling from a lengthy blockade imposed by Israel and Egypt after Hamas took power in 2007. The crisis has been especially severe in northern Gaza: The UN said Sunday that less than a quarter of aid convoys have reached their destinations in the north in January, because Israeli authorities denied most access. Israeli officials had no immediate comment. The UN agencies said they want access to the Israeli port of Ashdod, located about 40 kilometers (24 miles) north of Gaza, which they say would allow larger amounts of aid to be shipped in and then sent directly to northern Gaza, much of which Israel leveled in the opening weeks of the war. Israel has blamed the UN and other groups for the problems with aid delivery. Moshe Tetro, an official with COGAT, an Israeli military body in charge of civilian Palestinian affairs, said last week that aid delivery would be more streamlined if the UN provided more workers to receive and pack the supplies. He said more trucks were needed to transfer the aid to Israel for security checks and that the working hours at the Rafah crossing between Gaza and Egypt needed to be extended. Israel sealed off Gaza after Hamas’ October 7 attack. It relented after its top ally, the US, pressed it to loosen its restrictions. The US, as well as the UN, have continued to push Israel to ease the flow of aid. Samy Magdy reported from Cairo, and Tia Goldenberg from Tel Aviv, Israel.

Ukraine says it shot down 2 Russian command and control aircraft in a huge blow to Moscow By Illia Novikov

The Associated Press

YIV, Ukraine—The Ukrainian air force shot down a Russian early warning and control plane that can spot targets up to 650 kilometers (400 miles) away and a key command center aircraft that relays information to troops on the ground in a significant blow for the Kremlin’s forces, Ukraine’s military chief said Monday. The planes are fundamental tools in helping orchestrate Russian battlefield movements in Ukraine. Shooting them down, if confirmed, would be a landmark feat for Ukraine in the almost two-year war, as fighting along the front line is largely bogged down in trench and artillery warfare. Russia has largely ensured its air dominance during the war, as Ukraine fights with its fleet of Soviet-era warplanes against Moscow’s more more modern aircraft. Gen. Valeriy Zaluzhnyi, the commander-in-chief of the Ukrainian armed forces, didn’t say how the two aircraft—a Beriev A-50 and an Il-22—were brought down, but Ukraine has received sophisticated air defense systems from its Western allies. Zaluzhnyi also did not say where the interceptions occurred, though he attached a video to his social media post with an airplane tracker

A RUSSIAN Beriev A-50 airborne early warning and control plain flies over Red Square during a rehearsal for the Victory Day military parade in Moscow, Russia on May 7, 2019. Ukraine’s military chief is claiming that the Ukrainian air force has shot down a Russian Beriev A-50 early warning and control plane and an IL-22 command center aircraft. AP/ALEXANDER ZEMLIANICHENKO, POOL

showing two targets disappearing above the Azov Sea, which lies between Ukraine and Russia, north of the Crimea Peninsula and the Black Sea. There was no immediate official comment from Moscow. Russian war bloggers said both planes had come under friendly fire, though they presented no evidence of that. They claimed the Il-22 was damaged but made a successful landing. The A-50, which is topped with large radar, typically carries a crew of 15. The Russian air force reportedly has been operating a fleet of nine such aircraft. A February 2023 drone attack at an airfield in Belarus damaged a parked A-50, but Russian and Belarusian officials described the damage as minor. The Il-22 is an airborne command post. It oversees military

operations and sends radio signals to troops on the front line. The Russian air force reportedly has a dozen such planes. Ukraine is eager to impress its Western supporters with its ability in deploying the advanced weapons it has received. Ukrainian President Volodymyr Zelenskyy was due to meet Swiss President Viola Amherd in Bern later Monday before attending the World Economic Forum in Davos on Tuesday. Ukrainian officials are striving to keep world attention on the war amid concerns that the conflict is slipping down the list of global priorities. The United Nations appealed Monday for $4.2 billion to help people in Ukraine and displaced outside the country this year. Martin Griffiths, the UN’s humanitarian chief, acknowledged

that “the competition for funding is getting greater” because of crises elsewhere, including the IsraelHamas war in Gaza. Russia, meanwhile, was looking to deepen its ties with North Korea, whose foreign minister began a three-day visit to Moscow on Monday. The Kremlin is eager to replenish its weapons stockpiles. It has in recent times turned to Iran and North Korea for supplies. Pyongyang has likely supplied several types of missiles to Russia to support its war in Ukraine, along with its widely reported shipments of ammunition and shells, the US and its allies have alleged. Russian and Iranian defense and foreign ministers spoke by phone Monday to discuss bilateral military and military technical cooperation and regional security issues, according to official statements. They noted that the two countries are preparing to sign a landmark cooperation treaty. Ukraine is also determined to build up its stocks for a protracted conflict and is “dramatically expanding” its domestic manufacturing capacity for military items, a US think tank said. Ukraine is well-positioned to succeed in its plans to make up for any shortfall in Western-supplied weaponry, the Institute for the Study of War said.

A12 Wednesday, January 17, 2024 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Needed initiatives to fill PHL’s cold storage gap

ogistics is a popular sector in an archipelagic country like the Philippines. Many areas in the country would have to be accessed by boats or planes. Some areas would require a combination of transport options before visitors or residents can reach them.

Tourists and businessmen alike understand the difficulties of reaching some areas that they want to visit or invest in. Plane service in some provinces, for example, is not offered on a regular basis. Inter-island ships ply certain routes only on certain days. The lack of transport options in some food-producing provinces in the Philippines makes it imperative for these areas to have their own cold storage facilities. These cold storage facilities, which could be expensive to put up, help prolong the shelf life of certain produce. Farmers, fishers and traders tap these facilities to prevent them from incurring losses caused by the spoilage of their products. Having these cold storage facilities would also enable farmers and fishers to keep surplus produce, instead of just throwing away excess food items. The Philippines still continues to grapple with food waste, and having these cold storage facilities will help policymakers, particularly local leaders, to plan their output accordingly and prevent shortages. The lack of cold storage facilities, for instance, was cited as one of the top culprits behind the onion crisis experienced by urban consumers in the latter part of 2022. The Cold Chain Association of the Philippines said it requires P6 billion to double the industry’s storage capacity for onions. (See “Expanding onion cold chain capacity to cost P6B—group,” in the BusinessMirror, January 24, 2023). The group estimated that the capacity of cold storage facilities for onions nationwide is about 100,000 metric tons (MT), which is only 27 percent of the annual supply of 360,000 MT. CCAP had urged the government to consider various fiscal interventions, such as loan packages, to hike the country’s cold storage capacity. The government was also told to explore the feasibility of public-private partnerships in building additional facilities. Closing the gap in the cold storage needs of local food producers would obviously require huge investments. It would also entail political will on the part of the government to put in place these interventions immediately. These facilities and other infrastructure projects like farm-to-farm roads are particularly crucial in areas where middlemen continue to prey on hapless planters and fishers who don’t have direct access to markets. These things must be done as soon as possible if our government leaders are really serious about improving the state of the country’s agriculture. Without these reforms and investments in farm infrastructure, the state and even the private sector would have a hard time convincing the youth to take up farming as their primary source of livelihood. This is because “business as usual” would mean that the country’s food producers would continue to rack up losses due to spoilage and ridiculously low prices dangled by traders and middlemen for their produce. Since 2005

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

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com

www.news.businessmirror@gmail.com

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Construction boosts employment Mark Villar

THE BUILDER

enerating jobs and creating employment opportunities are essential to economic progress. Job creation leads to increased consumer spending and ultimately to a more robust economy. I, thus, welcome the results of the latest Labor Force Survey conducted by the Philippine Statistics Authority (PSA), showing that unemployment rate eased to an 18-year low of 3.6 percent in November 2023. The numbers speak volumes. The drastic decline in joblessness could be explained by the growing employment in agriculture and construction sectors. In terms of magnitude, the number of unemployed individuals in November 2023 reached 1.83 million, down from 2.18 million in November 2022 and 2.09 million in October 2023. Per the PSA, agriculture and forestry led the charge, adding a staggering 1.24 million jobs. Not far behind, the construction industry generated 453,000 new positions, showcasing its pivotal role in the job market. With more Filipinos finding per-

manent jobs, underemployment rate fell to 11.7 percent in November 2023 from 14.4 percent in November 2022. In absolute terms, the number of underemployed persons—or those who wanted to have additional hours of work—was estimated at 5.79 million out of the 49.64 employed individuals. With more Filipinos joining the ranks of construction workers and builders, we witness the acceleration of real estate, property development and infrastructure projects. More roads, bridges, office towers and houses are rising across the archipelago, fostering a dynamic landscape. The momentum likely continued in the fourth quarter of 2023, building on the impressive 14-percent growth of the construction industry in the third quarter. This propelled our gross domestic product (GDP) growth to an impressive 5.9 percent

With more Filipinos joining the ranks of construction workers and builders, we witness the acceleration of real estate, property development and infrastructure projects. More roads, bridges, office towers and houses are rising across the archipelago, fostering a dynamic landscape. during the period. As the PSA prepares to release the fourth-quarter figures later this month, I remain optimistic that we’ll meet at least the lower end of the government’s 2023 GDP growth target range of 6 percent to 7 percent. Both public and private sectors played a crucial role in the construction rebound. Increased government spending, coupled with the reopening of the economy, fueled infrastructure projects and property development across the nation. Construction companies, eager to meet the rising demand, hired skilled workers and laborers, leading to a cascade of positive economic effects. Looking ahead, confidence remains high for 2024. The government’s projected GDP growth of 6.5 percent to 7.5 percent in 2024 is a testament to the nation’s economic trajectory. While the World Bank offers a slightly conservative estimate of 5.8 percent, it still outpaces the global forecast of 2.4 percent, posi-

tioning the Philippines as a beacon of growth in the Asia Pacific region. This optimism isn’t unfounded. Beyond robust private consumption and easing inflation, the construction sector holds the key to unlocking even greater potential. Investments in this sector have profound and lasting impacts. From houses and roads to factories and power plants, every project generates ripple effects across the economy, creating jobs, stimulating demand for materials and ultimately, improving lives. The World Bank also expects the Philippines to grow 5.8 percent in 2025, which means the country is in a strong position to sustain its rapid expansion. If this continues, we may achieve our goal to become an upper middle-income economy by 2025. Per the Department of Finance (DOF), the Philippines will maintain its position as one of the fastestgrowing economies in the Asia Pacific this year despite the challenging economic and financial environment. Strong private consumption, supported by the softening of inflation to the target range of 2 percent to 4 percent and robust public spending, will underpin the Philippine economy’s performance this year, according to the Finance Department. To secure a growth exceeding 6 percent, cooperation and commitment from the construction sector are vital. Its ability to efficiently naviSee “Villar,” A13

Mr. Speaker: It’s about time, before we’re gone By Atty. Romulo B. Macalintal

he clarion call of Speaker Martin Romualdez for the House of Representatives to conduct a motu propio investigation in aid of legislation on reported various violations of the rights of senior citizens (SCs) and persons with disability (PWDs) is indeed a very welcome development. We can only thank the Speaker for taking up the cudgels for the SCs and PWDs at this very opportune time when many establishments totally disregard and deny the SCs and PWDs of their benefits as provided for by law. These violators use all technicalities and unreasonable grounds and even unlawful means to flagrantly violate the rights of SCs and PWDs. Sad to say, the agencies designated by law to protect their rights have not been very active in the proper implementation of the laws as if giving these unscrupulous firms the license to violate or deny SCs/PWDs their benefits. The most often reason of these

firms in denying SC/PWD discount is that their rate is already “on promo.” As early as in October 15, 2014, the Department of Trade and Industry had ruled in a case that “the prohibition on double discounting is applicable only when the giving of discount is for the establishment’s promotion and a DTI permit is applied and secured before an establishment can proceed with its promotional scheme.” It means that the promo must be approved by the DTI, otherwise any firm conducting a promo without permit from DTI will violate Article 116 of RA 7394, or the Consumer Act of the Philippines, which carries the penalty of fine or imprisonment.

These violators use all technicalities and unreasonable grounds and even unlawful means to flagrantly violate the rights of SCs and PWDs.

Only recently, the Pasig City Prosecutors Office filed criminal cases against the President and Finance Director of a 5-star hotel in Pasig City for denying an elderly her senior discount on its hotel rate claiming it was on “promo.” But, as alleged by the complainant and found by the Investigating Prosecutor, the said “promo” had no permit from DTI, hence, the discount should still be granted the SC. The case is now pending before the Pasig City Metropolitan Trial Court. Another apparent violation of SC/ PWD rights is the reported policy of a popular and high-end coffee chain that limits SC/PWD discounts to only one food item and one drink per visit. As a senior citizen, I felt insulted by such policy. As if I am being suspected of cheating this coffee shop in

that any additional order is not for my exclusive consumption but for others. If this coffee shop believes that there are abuses committed by some SCs/PWDs, then its remedy is not to limit our rights but for such firm to go after the violators. We should not be prejudiced by the unlawful acts of other persons. Indeed, Speaker Romualdez is in the right position to initiate an investigation for possible amendments or modifications of the laws pertaining to the rights and benefits of SCs/PWDs and for the concerned agencies, especially the local government units, to actively implement these laws. Paragraph 4, Section 10(c) of RA 9994 empowers them to cancel or revoke the business permit or permit to operate of any entity that fails to abide thereof. And the investigation should be done now. Not later. Before we run out of time.

Atty. Romulo B. Macalintal is a Senior Citizens Rights Advocate and an election lawyer.

www.news.businessmirror@gmail.com

US merchant vessel struck as shippers told to avoid Red Sea

Opinion BusinessMirror

An urgent appeal to Congress to rectify the anti-business Extended Producer Responsibility Law of 2022

By Alex Longley

outhi militants hit a US-owned commercial vessel with an anti-ship ballistic missile on Monday, underscoring warnings that the world’s most important trade artery remains too risky for navigation.

The Gibraltar Eagle, sailing under the flag of the Marshall Islands, was struck at about 4 p.m. local time in the Gulf of Aden, US Central Command said on X. No one was injured, the vessel avoided significant damage and continued its journey. The strike underscores warnings from the US, reported by a top industry trade group, that ships should steer clear of the Red Sea. The Department of Transportation also issued a warning to US merchant ships Monday, telling them to avoid the area until further notice. UK Maritime Trade Operations received a report of an incident about 57 nautical miles (105 kilometers) northwest of Assab, Eritrea where a small craft circled a ship and retreated after warning shots were fired. The ship and crew are safe. US and UK forces bombed targets in Yemen over the past several days following months of attacks on commercial ships by the Houthis, who had been targeting vessels with any kind of connection with Israel. The Houthis took responsibility for the attack and Yahya Saree, a Houthi armed forces spokesperson, said in a televised statement that they will target US and UK vessels and warships. The attacks will continue as long as Israel continues its offensive in Gaza, he said. Israel has vowed to destroy Hamas, which controls Gaza and has been designated a terrorist group by the US and European Union, since its fighters killed 1,200 people in a raid on October 7. The Houthis began their attacks in November, not long after Israeli forces moved into Gaza. In a move that stoked tensions in the region, Iran’s Islamic Revolutionary Guard Corps launched missiles at targets in northern Iraq in what it described as retaliation for terrorist attacks this month that killed almost 100 people near the burial site of General Qassem Soleimani. Eagle Bulk Shipping, operator of the Gibraltar Eagle, confirmed the ship was hit by a projectile and sustained limited damage to a cargo hold before sailing from the area. It was carrying steel products.

The attacks are driving up shipping costs as vessels avoiding the area are forced to sail thousands of miles further around Africa instead. That has raised the specter of a renewed wave of inflation and means delays to the delivery of everything from commodities to manufactured goods. The navigation warning, posted on LinkedIn by the world’s largest international shipping association Bimco, cited advice from the US Naval Forces Central Command. It warned the current instability could last for “some time.” “Coalition forces and Bimco continue to recommend shipping companies to consider avoiding shipping operations in the area,” the trade group said. The Yemen government criticized the Houthi attacks and called for the group to be designated a terrorist organization, saying it is manipulating the plight of the Palestinians for its own agenda, Saba news agency reported Monday. The maritime industry had already been warned on Friday to stay away from the region, but initial guidance suggested the pause might only last for three days. That was echoed by the Department of Transportation’s own 72-hour warning on Friday, which became an indefinite one on Monday. The attacks are driving up shipping costs as vessels avoiding the area are forced to sail thousands of miles further around Africa instead. That has raised the specter of a renewed wave of inflation and means delays to the delivery of everything from commodities to manufactured goods. Gas tankers from Qatar are among the latest vessels that have seemingly been forced the long way around but numerous shipowners have heeded the warnings. Denmark-based Bimco represents vessel owners and other shipping firms, counting 2,000 members in 130 countries. With assistance from Christine Burke, Áine Quinn, Mohammed Hatem, Jon Herskovitz, Ilya Banares and Bill Faries /Bloomberg

Wednesday, January 17, 2024 A13

Dr. Jesus Lim Arranza

MAKE SENSE

he members of Congress play a vital role in shaping the laws that govern our nation and directly impact the well-being of the Filipino people. Through their tireless efforts, legislators have authored laws that have improved the lives of our people and have set our society on a path towards progress. As citizens, we owe gratitude to the lawmakers who have championed these causes and continue to advocate for legislations that promote the welfare of the people, and the nation’s economic prosperity. The commitment and dedication of our legislators remind us that progress is possible when they prioritize the collective welfare of our society.

We always learn from mistakes. When we encounter setbacks, we are forced to reassess our approach and identify alternative strategies. That’s why I’m urging Congress to review and amend the EPR Law, which is good when it comes to the collection of hazardous and toxic waste because the collection of these kinds of substances need to be handled carefully. But as it is per se, the EPR Law can kill local industries.

But there is such a thing as the law of unintended consequences, which refers to the phenomenon where the decisions taken with a specific goal in mind can have unanticipated and often unintended effects. This concept is applicable to various fields, including lawmaking. When lawmakers create new legislation, they typically aim to address a particular problem or achieve specific objectives. However, despite their best intentions, the implementation of these laws can lead to unforeseen outcomes, like the adverse effects of the Extended Producer Responsibility (EPR) Law of 2022 on Philippine businesses. That’s why I write this appeal to the honorable members of Congress with a deep sense of concern regarding the EPR Law, which shifted the responsibility of garbage collection from the government to the private sector. While I recognize the challenges and complexities surrounding legislative decisions, I implore you to amend this law due to its detrimental impact on businesses that are still struggling to survive after the devastation caused by the pandemic. As chairman of FPI, I deeply value the principles of fairness, economic growth, and the well-being of our society, and I believe it is crucial to address the unintended consequences that this law brings. While the intentions behind the bill may have

been noble, it fails to recognize the vital role that the government plays in ensuring equitable and efficient services for its citizens. The decision to pass the responsibility of garbage collection to the private sector places an unnecessary burden on businesses, especially small and medium enterprises, which form the backbone of our economy. By shifting this responsibility to them, we risk subjecting businesses to increased costs and reduced opportunity to do what they do best— which is to flourish in order to help generate employment. This could have far-reaching consequences for the growth and sustainability of businesses, leading to job losses and hampering economic development. The government, being accountable to the public, has a duty to provide essential services, like garbage collection, to everyone, regardless of their socioeconomic status. The cornerstone of the Philippine government’s legal mandate to collect garbage is Republic Act 9003, also known as the “Ecological Solid Waste Management Act.” Enacted in 2000, this law aims to promote environmental awareness and encourage the adoption of sustainable waste management practices nationwide. It requires local government units (LGUs) to establish waste management systems, including the collection, segregation, and disposal of solid waste.

Under the Ecological Solid Waste Management Act, LGUs are primarily responsible for garbage collection within their respective jurisdictions. They are tasked with organizing, implementing, and monitoring waste management programs that cover collection, transport, and disposal. This includes establishing collection schedules, ensuring proper segregation of waste, and maintaining garbage trucks and facilities. Despite the legal mandate, the government has been facing challenges in ensuring efficient garbage collection throughout the country. However, instead of acknowledging and rectifying its shortcomings, the government created a law that delegates to the private sector its legal mandate to collect garbage under Republic Act 9003. Under the Extended Producer Responsibility Law of 2022 and its implementing rules issued in January 2023, companies categorized under obliged enterprises now have to account for their plastic footprint and show proof of a minimum 20-percent recovery rate for the year 2023 or face stiff penalties. They can comply in three ways: recover on their own the plastic packaging that they used, join other OEs to form a “collective,” or engage the services of a Producer Responsibility Organization (PRO). We always learn from mistakes, which is an idea that is rooted in the fundamental process of human growth and development. When we encounter setbacks, we are forced to reassess our approach and identify alternative strategies. That’s why I’m

Villar . . .

planning stage for the construction of houses, buildings, roads, railways, factories, power plants, telecom networks, seaports, airports, floodmitigation structures, water supply systems, etc. The construction stage leads to the creation of jobs that may last from a few months to five or six years, depending on the size of the project. It also involves the purchase of construction materials such as ce-

ment, steel, wood, glass, tiles, bathroom and kitchen fixtures, paint, electrical supplies, etc. This would lead to stronger demand for appliances and furniture later. More importantly, the completion of construction projects will support the economy in the future and benefit the next generation. This is why it is important that we invest more in infrastructure projects as well as schools, hospitals, parks,

continued from A12

gate projects, adopt innovative technologies and promote sustainable practices will be crucial to propelling the economy forward. Construction, as a sector, has immediate and longterm impact on the economy. Before a project takes off, investments are already made during the

Germany narrowly escapes recession but outlook remains tough By Alexander Weber & Iain Rogers

ermany continued to dodge a recession in the wake of the energy crisis, despite shrinking in 2023 with this year set to bring only a meager rebound.

Gross domestic product fell 0.3 percent between October and December, according to a preliminary estimate Monday. But with the previous three months revised up to 0 percent from -0.1 percent, Europe’s largest economy avoided two straight quarters of contraction. It was nevertheless a tough year: GDP also shrank 0.3 percent over the full 12 months—the first such downturn since the pandemic. It’s a stark contrast to peers around the globe—it probably was the only Group of Seven economy to contract—and one that’s raising questions about the country’s future as an industrial powerhouse. Ongoing concerns about Germany’s prospects are reflected in expectations for this year. The OECD said in November that, at 0.6 percent, growth will be the slowest among all Group of 20

members except Argentina. Economists predict minimal growth in the first half of 2024, a year that’s kicked off with train strikes and nationwide protests by farmers. Analysts at Deutsche Bank AG, Commerzbank AG and ING Groep NV even see output continuing to shrink over the whole of 2024. Survey-based indicators have yet to signal improvement and industrial production is increasingly affected by declining order intake, according to Commerzbank’s Joerg Kraemer. Initial feedback from polls “suggests that economic performance is likely to stall in 2024,” according to the industry lobby DIHK Chambers of Industry and Commerce. “Even remaining in recession is still possible. The economic challenges remain great.” “We expect growth to slowly ramp up in 2024 and reach 0.5

percent for the year as higher real incomes may give household consumption a boost. However, the recent setback in business expectations underlines the risk that more pronounced industry weakness will cause the slowdown to continue in 1Q24,” said Bloomberg economist Martin Ademmer. Germany, the first in the G-7 to report a fourth-quarter GDP estimate, had been singled out by forecasters in 2023 as the biggest weak spot among the world’s major developed nations. That’s largely due to its manufacturing sector reeling from higher energy costs, surging interest rates and subdued foreign demand. While the year began with relief that the energy shock triggered by Russia’s war in Ukraine would be more manageable than initially feared, the economy lost steam and never regained traction. A recovery that had been expected in the second half of the year failed to materialize, with activity faltering even as inflation retreated. Weighing on output in 2023 were manufacturing, state spend-

Ongoing concerns about Germany’s prospects are reflected in expectations for this year. The OECD said in November that, at 0.6 percent, growth will be the slowest among all Group of 20 members except Argentina. Economists predict minimal growth in the first half of 2024, a year that’s kicked off with train strikes and nationwide protests by farmers.

ing and private consumption, which were all down, the statistics office said. The disappointing performance sparked a debate over whether Germany is once again turning into the “sick man” of Europe—a moniker it first earned after reunification in the 1990s weighed on the economy and brought stubbornly high unemployment. Top officials including Finance Minister Christian Lindner and Bundesbank President Joachim Nagel have dismissed such talk,

insisting the country has proved it can adapt to a changing environment. The central bank has nevertheless acknowledged challenges to a business model that was long based on Russian energy imports and a strong reliance on China— both for components and as a market for combustion-engine cars. While natural gas prices have fallen sharply from a peak reached after the Kremlin cut off supplies, they remain higher than before Covid struck. The chemical industry is among the sectors most affected, with companies including BASF SE and Lanxess AG responding by shelving investments and laying off workers. Continued squabbling within Chancellor Olaf Scholz’s threeparty alliance has, meanwhile, highlighted the difficulty in agreeing measures to tackle Germany’s woes. That’s helped feed a surge in popularity for the far-right AfD, which now leads polls in three eastern German provinces that hold elections this year. Most re-

urging Congress to review and amend the EPR Law, which is good when it comes to the collection of hazardous and toxic waste because the collection of these kinds of substances need to be handled carefully. But as it is per se, the EPR Law can kill local industries. That’s the function of oversight, and even in lawmaking the maxim that says “good preparation results in less perspiration” applies. My suggestion is for members of Congress to study why the government failed to solve our solid waste management problem in the past 20 years. I find it ironic for government to pass to private companies an important function like garbage collection, which is not part of their main competencies, when the government that has the machinery to do this has failed to deliver on its mandate for the last two decades. That’s why I urge our esteemed members of Congress to reconsider or amend the EPR Law and explore alternative solutions that strike a balance between efficient waste management and the needs of businesses to grow. It is essential to seek input from a diverse range of stakeholders, including small business owners, environmental experts, and citizen advocacy groups, to develop legislation that truly serves the best interests of our nation. But it is equally important to ask those implementing our garbage collection about the issues that they have encountered for us to find an effective solution. Thank you for your attention to this matter, and I trust that you will consider my appeal with the utmost seriousness it deserves. Your dedication to the well-being of our nation is deeply appreciated, and I have faith in your ability to rectify or amend this law to help nurture the growth of local industries. Philippine corporations, both large and small, are the engines that propel the country forward, creating jobs, generating revenue, and driving innovation. By recognizing their pivotal role as catalysts of economic growth, we can foster an environment that encourages innovation, job creation, revenue generation, and sustainable development. tourism facilities and other public spaces. Investments in these projects have a great multiplier effect on the economy in terms of improving mobility, facilitating trade, enhancing economic productivity and bringing comfort to the lives of our people. For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar.com.ph

cently, dissatisfaction with the government has brought protests by farmers, who disrupted traffic nationwide last week and held their main rally in Berlin on Monday. According to the farmer’s lobby association, 30,000 people joined the protest in the center of the capital. More than 6,000 tractors and other vehicles clogged the streets around the government quarter. The Constitutional Court created further headwinds at the end of 2023 by disrupting the coalition’s plans to finance investments via off-balance sheet funds, forcing savings in the current budget and fueling fresh uncertainty among households and firms. “We had a rather weak 2023 so 2024 will not be a brilliant year but we will see growth picking up a little bit,” Bundesbank President Joachim Nagel told Bloomberg Television in Davos, Switzerland. “I think Germany has to do its homework.” With assistance from Joel Rinneby, Kristian Siedenburg, Michael Nienaber, Jana Randow, Mark Schroers, Francine Lacqua and Arne Delfs /Bloomberg

A14 Wednesday, January 17, 2024

Padilla hails Zubiri-led review of Constitution

EN. Robin C. Padilla on Tuesday welcomed a new Resolution filed in the Senate to review key economic provisions of the 1987 Constitution. Conveying expectations it will “finally lead to national progress,” Padilla, chairman of the Senate Committee on Constitutional Amendments and Revision of Codes, confirmed the deliberations would be led by an ad hoc panel to be presided by Sen. Juan Edgardo Angara, under Padilla’s mother committee on constitutional amendments. “This is good news for the nation,” said Padilla, projecting an upbeat outlook that “our economy will be revitalized, and this will lead to progress in the lives of Filipinos.” Padilla said he has long been pushing for reforms to the Constitution’s economic provisions “so that investments from abroad can come in and lead to jobs and other economic opportunities for Filipinos.” Padilla also noted the Senate’s new effort to revisit the Charter shows he was on the right track when his committee filed a committee report on proposed amendments to the 1987 Constitution. Butch Fernandez

Beijing bristles as Marcos cheers Taiwan poll winner

By Malou Talosig-Bartolome

@maloutalosig

N a surprising turn of events, President Ferdinand Marcos Jr. veered from the neutral, tempered position initially posed by his Foreign Affairs department and publicly congratulated the pro-independence candidate in Taiwan for winning the recently held presidential elections. The Chinese Foreign Ministry summoned Philippine Ambassador Jaime FlorCruz to protest the President’s greetings to Taiwan’s president-elect Lai Ching-te. The Taiwan election last Saturday came at a time of growing geopolitical tension between Beijing and Manila over the West Philippine Sea. “On behalf of the Filipino people, I congratulate Presidentelect Lai Ching-te on his election as Taiwan’s next President,” Marcos Jr. said on his X post Monday evening. “We look forward to close collaboration, strengthening mutual interests, fostering peace, and ensuring prosperity for our peoples in the years ahead,” Marcos Jr. added.

This is the first time a Philippine president publicly congratulated a recently elected Taiwanese president. Marcos Jr.’s father had committed to China in 1975, that the Philippines would only recognize one China as a country. China has been warning the international community against giving recognition to Taiwan, which it considers a renegade province. So far, Marcos Jr. is also the only head of state—from a country without formal diplomatic relations—who congratulated Lai. Other countries without diplomatic relations with Taiwan such as the United States, United Kingdom, European Union, Canada, France, The Netherlands, Japan, Australia,

New Zealand and Singapore also sent congratulatory messages but only at the level of their respective foreign ministries. The Philippines is the closest country next to Taiwan and the cross-strait tension has been one of its most pressing security problems. Unofficially, Manila and Taipei have robust economic and cultural relationships. On Sunday, the Department of Foreign Affairs merely reinstated Manila’s One-China policy when pressed to comment on Lai ’s victory. But on Tuesday, the DFA tried to play down President Marcos’ message as merely a way to “thank Taiwan” for hosting nearly 200,000 Filipino workers. “The Philippines and Taiwan share mutual interests which include the welfare of nearly 200,000 OFWs in Taiwan. The message of President Marcos congratulating the new president was his way of thanking them for hosting our OFWs and holding a successful democratic process. Nevertheless, the Philippines reaffirms its One China Policy,” DFA spokesperson Ma. Teresita Daza said in a text message to diplomatic reporters. Continued on A9

NATIONWIDE PROTEST CARAVAN Transport groups Manibela and Piston orchestrated a nationwide protest caravan, commencing from University Avenue in UP Diliman, Quezon City, and culminating at Mendiola in Manila on Tuesday, January 16, 2024. The protest aimed to vehemently oppose the implementation of the Public Utility Vehicle Modernization Program. Mar Valbuena, the chairperson of Manibela, said an estimated 10,000 to 15,000 jeepney drivers and operators, along with commuters and students, were anticipated to participate in the demonstration. As part of the modernization initiative, jeepneys failing to adhere to the consolidation process will be labeled as “colorum” or unregistered starting February 1, with the subsequent revocation of their franchises. NONOY LACZA

DOJ SETS CRACKDOWN ON B.I. LAWYERS IN 9G VISA SCANDAL

HE Department of Justice (DOJ) is poised to go after the officers and officials of the Bureau of Immigration, particularly its legal department, which is believed to be behind the issuance of thousands of 9G visas or pre-arranged employment visas to around 500

fictitious corporations and sole proprietors. At a press briefing, Justice Secretary Jesus Crispin Remulla said he met with BI Commissioner Norman Tansingco on Monday to discuss the proliferation of 9G visas issued to fake corporations. Continued on A9

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, January 17, 2024

Govt approves conduct of SIS for 175 power projects

By Lenie Lectura

@llectura

he Department of Energy (DOE) has endorsed a total of 175 power projects to the National Grid Corporation of the Philippines (NGCP) last year for the conduct of system impact studies (SIS). The proposed power projects are expected to add 39,808.964 megawatts (MW) to the entire grid. Of the 175 projects, 158 are renewable energy (RE) projects, 7 are conventional, and the remaining 10 are energy storage systems (ESS).

In December alone, the DOE issued 21 SIS endorsements to the NGCP. This is composed of two amendments and 19 new applications. The conduct of SIS is necessary to determine the adequacy of the grid

and its capability to accommodate a request for power delivery service. The NGCP said it is carrying out “a comprehensive series of actions” to tackle the challenges posed by the lengthy queue of SIS for power plant connections. Due to the increasing demand for power generation in the country, the number of applications for SIS surged. Historically, however, majority of the applicants do not push through with their initial plans, with only around 28 percent of completed SIS resulting in the establishment of actual power plants, NGCP had said. “Although 7 out of 10 SIS applicants will not actually pursue their power investments, we are obliged to fully evaluate each application when they are passed on to us by

the DOE,” said NGCP President and CEO Anthony Almeda. “Accordingly, we have taken the necessary steps to expedite the process and improve its efficiency.” One of the key initiatives is the expansion of the SIS team through additional manpower. NGCP expects to boost the capacity of the organization and conduct more SIS studies simultaneously. The company is also adopting a clustering approach for SIS, grouping together power plants with a common connection point or study area. This clustering strategy aims to streamline the process and accelerate the evaluation of multiple projects, enhancing the overall efficiency and reducing the waiting time for potential power plant developers.

Manila Water hurdles quality tests By Jonathan L. Mayuga @jonlmayuga

anila Water Co. Inc. said it remains compliant with the water quality standard set by the government. The company said it has consistently passed water quality tests conducted by the Department of Health for the Philippine National Standards for Drinking Water (PNSDW). The tests are conducted on different regulatory sampling points, from water treatment plants, service reservoirs, pumping stations, distribution lines and customer taps, with a total of 78,523 tests conducted from January to November 2023.

PSE, PDS back Go’s appointment

The water samples were tested for physical, microbiological, and chemical parameters, with the PNSDW compliance certifying that the water supply is 100 percent free from thermotolerant coliforms, and organic and inorganic chemicals and contaminants. Through its own ISO-certified and DOH-accredited laboratory and testing facilities, Manila Water said it commits to “consistently provide accurate and reliable water quality tests.” For November 2023, the Manila Water Laboratory Services (MWLS) achieved a compliance rate of 113.69 percent by conducting 6,709 water sampling tests. This

surpassed the 5,901 tests required by DOH to ensure that the water being supplied to customers is clean and potable. As Manila Water assures its customers that the water being supplied by the company is safe to drink, other factors can affect the water quality once it reaches their tap. With this, Manila Water reminds its customers to regularly check their plumbing systems at home. “Contaminants and external debris can make their way into the customer’s water supply through leaks and other damages in the plumbing system. To make sure that the water remains clean and potable, the water pipes after the

meter should be maintained in good condition,” Jeric Sevilla, Manila Water Corporate Communication Affairs Group Director, said in a statement. Sevilla also urged the public to be observant of the quality of water in their taps before use. “We should make it a habit to always check the water quality before consuming them. Water should be clear and transparent, free from impurities and foreign particles, tasteless, colorless, and odorless. For Manila Water customers, we encourage them to report to us immediately any water quality concern by calling our Customer Care Hotline 1627.”

NUSTAR pays tribute to Cebu

he Philippine Stock Exchange Inc. (PSE) and the Philippine Dealing System Holdings Corp. (PDS) have expressed their support for the appointment of Frederick D. Go to government. Go was appointed as special assistant to the President for investment and economic affairs and concurrent head of the economic development group of the Cabinet. The operator of the equities and fixed-income platforms said Go, a former president and CEO of Robinsons Land Corp., “is an ideal fit” for this position given his business acumen, extensive experience and “visionary leadership” in the corporate sector. “Go exemplified these traits in his position as president and CEO of a publicly listed company that experienced substantial growth and expansion in the last decade or so,” they said. “His exposure and involvement in various sectors, including property, air transportation, banking, power, among others, also gives him a unique perspective of vital industries in the country. We hope to work with him on initiatives that will help deepen the Philippine capital market.” Go’s position gives him supervision roles over the Departments of Finance, Trade and Industry, and the National Economic and Development Authority. VG Cabuag

The executives of NUSTAR Resort Cebu led by Chief Operating Officer Alan Teo were part of the flash mob that launched the "I Love Cebu" music video. Contributed photo

U S TA R R e s o r t C e b u launched on January 12 its much-anticipated “I Love Cebu” campaign, marked by the premiere of its music video that beautifully captures the essence and allure of Cebu’s cultural richness and breathtaking landscapes. The music video offers a fresh interpretation of the “I Love Cebu” anthem. It invites viewers on a visual journey through the must-visit destinations that define the character and vitality of this dynamic city. From top scenic spots to significant cultural landmarks, the video showcases the diversity of Cebu’s offerings, delivering an engaging experience for both locals and tourists. The music video features a starstudded lineup, including esteemed local influencers Michael Ver, the Fabe Twins, and Harsh Boy “Maui of Cebu.” This ensemble breathes life into the melodic narrative, led by the acclaimed performances of

Jacky Chang, who’s renowned for her chart-topping track “Atik Ra,” and the Wonggoys, celebrated for their impressive beats, musical arrangements, and hit songs like “Way Blema.” Produced by NUSTAR Resort Cebu, this campaign also offers a glimpse into the lifestyle experiences that await guests at the integrated resort, promising visitors an unforgettable stay. “The primary goal behind the creation of this music video was to firmly anchor NUSTAR within the cultural fabric of the island province. Reflecting on the ‘I Love Cebu’ initiative, our aim was to resonate with the deeply rooted sentiments tied to the well-known anthem embraced by all Cebuanos. This project signifies our pride in being an integral part of Cebu, an island abundant with diverse offerings. Our hope is to foster an organic affiliation, where thoughts of Cebu

naturally include NUSTAR, which encapsulates the spirit of a worldclass destination within an iconic brand,” said Bonneville Almendras, NUSTAR’s senior manager for Brand Marketing Entertainment. The release of the “I Love Cebu” music video is strategically timed to coincide with the upcoming Sinulog Festival, adding to the excitement surrounding this time-honored celebration. As NUSTAR is gearing up for its participation in this grand occasion from January 8 to 21, 2024, the property will transform into a cultural hotspot, adorned with Sinulog décor and a grand galleon-inspired float, paying homage to Cebu’s history. Guests will be treated to daily performances by Sinulog ambassadors and dancers, a Filipino art exhibit by Qube Gallery, and the electrifying SINULOGFEST 2024 music festival on January 21.

Jollibee opens first Common Man Coffee Roasters cafe in PHL

Photo from www.commonmancoffeeroasters.com

astfood chain operator Jollibee Foods Corp. has opened its first Common Man Coffee Roasters cafe in the Philippines at the Ayala Triangle Gardens in Makati as part of the company’s aggressive growth plans this year. “We’re excited to bring the Common Man Coffee Roasters in the country and give the community an elevated café experience,” Ernesto Tanmantiong, Jollibee’s president and CEO, said. “Common Man’s consciously sourced coffee and numerous deliciously healthy brunch options contribute to this experience and help fulfill our mission of spreading the joy of eating to everyone.” Established in 2013, Common Man Coffee serves specialty coffee and all-day brunch. It started in Singapore, then expanded to Malaysia, and now in the Philippines. It also roasts and sells coffee beans and operates the Coffee Barista Academy in Singapore and Malaysia, which provides coffee training to baristas and coffee lovers. In the Philippines, its menu includes different types of specialty coffee, such as the nitro honey oat latte and filter brew. Its brunch menu includes a breakfast that has servings of sausage, bacon, portobello mushroom, hash browns, house-made baked

chorizo beans and greens along with sourdough. The Common Man beef brisket Benedict has tender braised beef topped by poached eggs and creamy hollandaise. “Having a roastery on site for us to showcase the roasting method will not only help the customers understand the coffee process better, but it will also offer a unique dining and sensory experience for them,” said Koon Beng Chua, CEO of the Spa Esprit Group, which operates Common Man Coffee Roasters in Singapore. Jollibee first announced in August its joint venture with Food Collective Pte. Ltd., through FCJB Foods Inc., to own and operate Common Man Coffee Roasters in the Philippines. Jollibee owns 60 percent of FCJB. “This is the first café from our partnership with the Spa Esprit Group and we’re looking forward to expanding the Common Man Coffee Roasters experience to more people,” Joseph Tanbuntiong, Jollibee’s chief business officer, said. “The strong collaboration between the two partners is very evident and is greatly rewarded by the enjoyment we see from people upon entering the café and upon tasting our menu selections. We recognize the increasingly discerning palate of Filipinos and we’re here to delight them.” VG Cabuag

Companies BusinessMirror

Wednesday, January 17, 2024

CLI sets sights on growing tourism market in VisMin

By VG Cabuag

@villygc

roperty developer Cebu Landmasters Inc. (CLI) said Tuesday it has opened lyf Cebu City, its third operational hotel. The company said lyf Cebu City is located at CLI’s mixed-use property Base Line Center in mid-town Cebu near Fuente Osmeña Circle, a key venue of the Sinulog Festival held every January. The hotel, a brand operated by Ascott that caters to young and dynamic travelers, has 159 rooms of what it called One of a Kind or studio queen, Side by Side or studio twin, All Together or two-bedroom and All Together four-bedroom units.

“We are excited for the opening of lyf Cebu City that offers young travelers an exciting blend of modern accommodations and a dynamic environment unmatched in Cebu. CLI’s hotel portfolio is growing and we are happy to offer a unique experience to VisMin’s [Visayas and Mindanao] growing tourism market,” said CLI Hotels and Resorts Director Mathias Bergundthal. The new hotel serves as the first lyf property in the VisMin region,

January to September 2023 rose 28 percent to P3 billion from the P2.4 billion recorded in the same period in 2022. It had a double-digit revenue growth across all of its business segments, pushing its gross revenues to P13.27 billion, up by 19 percent from the previous year’s P11.1 billion. “We are very pleased with our performance (in 2023), achieving double-digit profit expansions in the last three quarters despite the headwinds of inflation and higher interest rates in the country. This underscores CLI’s commitment to providing value to shareholders and affirms the sustainability of our growth trajectory,” CLI Chairman and CEO Jose Soberano III said. Across segments, CLI’s real estate unit continued to be the primary driver of the company’s revenue, the company said.

and the second in the Philippines. The opening of lyf Cebu City brings CLI’s operational hotel count to three, following the launch of The Pad Co-Living last month with 258 rooms and Citadines Cebu City in 2019 with 180 rooms. In its mission to strengthen its hospitality business, CLI also has partnerships with other international hotel operators, including Radisson and Accor, and with local players like the Abaca Group. The opening of lyf Cebu City gives CLI 10 projects under its hospitality portfolio, which now features more than 1,700 keys and 316 rooms currently completed. Another two hotels are underway with the 200-room Citadines Bacolod City set to open in March and Radisson Red with 144 rooms will open by the end of the year. CLI earlier said its income in

he Japanese government has revoked certification for three Daihatsu Motor Co. vehicles after an investigation found the Toyota Motor Corp. affiliate had been manipulating collision safety test results for decades. Transport Minister Tetsuo Saito delivered an order of improvement

to Daihatsu President Soichiro Okudaira on Tuesday, demanding the company take steps to prevent anything similar from happening again. “Including any ill intentions, the situation is extremely regrettable,” Saito said. The safety certification for three variations of the same car, including the Grand Max, Toyota’s TownAce and Mazda Motor Corp.’s Bongo, were revoked because test results had been tampered with to gain approval, according to the ministry. This is the government’s first major order since December, when revelations first emerged that most of Daihatsu’s vehicles weren’t properly tested for collision safety. Bloomberg News

MUTUAL FUNDS

January 16, 2024

NAV

One Year Three Year

Five Year

Y-T-D

per share Return*

Return

Stock Funds ALFM Growth Fund, Inc. -a

217.26

-0.72%

-2%

-3.98%

-0.08%

1.4949

5.1%

4.04%

-0.2%

1.94%

1.5%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0276

-1.06%

-1.64%

-6.12%

-1.96%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7067

0.04%

-4.49%

-5.79% n.a

First Metro Consumer Fund, Inc. -a

-5.09%

-6.16% n.a

2.27%

-1.85%

-3.29%

2.68%

ATRAM Alpha Opportunity Fund, Inc. -a

0.6398

-9.12%

First Metro Save and Learn Equity Fund, Inc. -a 4.7541-3.15%

3.09%

-0.04%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.7152-3.51% -2.37% n.a n.a MBG Equity Investment Fund, Inc. -a

85.41

9.61%

-5.87%

PAMI Equity Index Fund, Inc. -a 44.4331 Philam Strategic Growth Fund, Inc. -a

-2.85%

-2.33%

-3.36% n.a

3.54%

461.68

-0.77%

-2.4%

-3.35%

-0.08%

1.227

0.33%

1.04%

-1.53% n.a

-0.81%

-0.6%

-2.27%

1.73%

Philequity MSCI Philippine Index Fund, Inc. -a 0.8937-0.87%

-1.31%

-3.18% n.a

3.09%

Philequity PSE Index Fund, Inc. -a

4.6653

-1.9%

-1.48%

-2.6%

1.61%

3.43%

Philippine Stock Index Fund Corp. -a

776.66

-2.01%

-1.65%

-2.67%

1.61%

3.48%

0.7

-1.35%

-1.36%

-5.11% n.a

2.09%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4729

-0.05%

Philequity Dividend Yield Fund, Inc. -a Philequity Fund, Inc. -a

34.759

Soldivo Strategic Growth Fund, Inc. -a

-6.78% n.a

1.8%

-4.2%

-1.96%

-2.96% n.a

United Fund, Inc. -a

0.79%

2.76%

-1.89%

-3.13%

3.28%

3.2%

-1.99%

-2.36%

1.14%

3.34%

-2.55%

3.1765

2.79%

0.49%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8808-2.29%

3.23% 3.5%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0917-2.25% n.a n.a n.a

3.42%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.0226 n.a n.a n.a n.a 1.78% Philequity Alpha One Fund, Inc. -a

1.0391

-7.05%

-2.07% n.a n.a

1.97%

Philippine Stock Index Fund Corp. -a

942.83

-2.04% n.a n.a n.a

3.48%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c105.5252-1.42%-1.24%

-2.34%

2.3%

3.52%

Primarily invested in foreign currency securities (shares) AsiaPlus Equity Fund, Inc. -b $0.7949

-13.14%

-15.09%

-3.3%

-1.77%

-3.3%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6611

12.26%

-0.9%

7.51% n.a

ATRAM -0.04%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Philippine Balanced Fund, Inc. -a 2.2272

3.37%

-1.31%

-0.64%

0.6%

ATRAM Unicapital Diversified Growth Fund, Inc. -a,41.5209

1.37%

-3.46%

-2.54%

-1.32%

0.68%

First Metro Save and Learn Balanced Fund, Inc. -a 2.5351

-2.53%

-1.52%

-1.02%

-0.6%

1.54%

0.61%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1942

-4.19%

-1.07% n.a n.a

2% NCM Mutual Fund of the Phils., Inc. -a

1.9681

-1.8%

-0.28%

0.63%

1.73%

PAMI Horizon Fund, Inc. -a

3.6095

1.34%

-1.89%

-0.04%

0.86%

1.51%

Philam Fund, Inc. -a

15.7979

0.95%

-2.59%

-0.76%

0.55%

1.51%

Solidaritas Fund, Inc. -a

2.0638

0.5%

-0.85%

-0.76%

1.38%

1.77%

1.82%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4579

0.22%

-1.45%

-1.9%

0.29%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9153

0.52%

-0.98% n.a

1.22%

0.24%

1.47%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.94851.4%

-2.73% n.a n.a

0.87%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8658-1.11%

-3.45% n.a n.a

2.21%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8469-1.92%

-3.65% n.a n.a

2.58%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03294

1.1%

-5.38%

-1.45%

0.14%

PAMI Asia Balanced Fund, Inc. -b$0.8854 -6.96%

-9.72%

-1.29%

-1.12%

-3.25%

-0.81%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2787

7.65%

-2.26%

4.56%

2.9%

-0.31%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0353

3.4%

-4.05%

1.13% n.a

-0.55%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 390.85

3.26%

1.74%

2.58%

2.28%

0.09%

ATRAM Corporate Bond Fund, Inc. -a

1.9113

1.5%

0.16%

0.59%

0.09%

0.13%

Cocolife Fixed Income Fund, Inc. -a

3.3369

2.97%

1.24%

2.3%

3.78%

0.35%

Ekklesia Mutual Fund, Inc. -a 2.2757

3.73%

-0.28%

1.25%

1.47%

-0.45%

1.84%

0.01%

1.99%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4509 Philam Bond Fund, Inc. -a

2.22%

-2.55%

2.12%

1.01%

-0.32%

Philam Managed Income Fund, Inc. -a

1.3805

4.15%

1.49%

3.19%

1.82%

0.53%

Philequity Peso Bond Fund, Inc. -a

4.0328

3.6%

0.39%

2.53%

1.75%

-0.04%

2.7%

0.34%

2.99% n.a

0.05%

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

3.302

4.08%

1.05%

3.35%

2.28%

Sun Life Prosperity GS Fund, Inc. -a

3.24%

0.3%

2.5%

1.64%

-0.28%

Soldivo Bond Fund, Inc. -a

4.2843

1.22%

1.0502

1.7644

-0.26%

-0.33%

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

1.0108 n.a n.a n.a n.a

0.32%

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

$495.95

0.83%

2.01%

2.54%

0.14%

ALFM Euro Bond Fund, Inc. -a Є214.18

1.87%

-0.81%

0.15%

0.83%

0.09%

-6.4%

-1.7%

ATRAM Total Return Dollar Bond Fund, Inc. -b$1.03822.02% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0248

-0.44%

4.2%

-1.94%

-0.08% n.a

-3.11%

-0.38%

4.87%

-2.98%

0.99%

1.9%

-0.9%

1.59%

-0.67%

1.34%

1.59%

0.11%

0.86%

-4.6%

-0.77%

0.5%

-1.96%

0.14%

-1.15%

-7.69%

Philam Dollar Bond Fund, Inc. -a

$2.299

Philequity Dollar Income Fund, Inc. -a $0.0609798

0.12%

ALFM

-3.84%

PAMI Global Bond Fund, Inc. -b$0.8541

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7783

-0.4%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 137.04

2.5%

2.05%

First Metro Save and Learn Money Market Fund, Inc. -a 1.11

2.81%

1.8%

3.29%

1.92% n.a n.a

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.37752.83%

2.01%

2.44%

0.12% 2.04%

0.13%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.82

4.19% n.a n.a n.a

0.23%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0994

2.66%

1.45%

1.57% n.a

0.17%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.3046-1.07% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.4723

16.02%

1.002 n.a n.a n.a n.a

0.23%

Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.8006-2.54%

-6.83% 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.

-0.26%

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 PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

33.5 139.3 6.98 109 31.5 8.73 55.3 18.72 53.05 22.55 73.75 44.95 1.34 2.6 2.7 0.37 174 2,502 0.78

34.85 139.4 7.24 109.5 31.55 8.82 55.55 18.74 55.8 23.4 73.85 45 1.36 2.63 2.72 0.44 177.7 2,590 0.8

34 139 7.24 109 31.55 8.7 56.4 18.78 54 22.55 73.8 44.95 1.38 2.6 2.72 0.37 177.1 2,500 0.79

34 140 7.24 110.5 31.55 8.8 56.95 18.78 55.8 22.55 73.9 45.3 1.38 2.63 2.72 0.37 178 2,590 0.79

33.5 138.5 6.98 108.7 31.5 8.64 55.3 18.7 53 22.55 73.75 44.85 1.38 2.6 2.7 0.37 174 2,500 0.79

33.5 139.3 6.98 109 31.5 8.8 55.3 18.72 55.8 22.55 73.85 45 1.38 2.6 2.7 0.37 174 2,590 0.79

6,300 2,787,200 5,500 1,973,250 20,100 318,900 1,606,640 54,500 4,000 100 119,140 62,800 1,000 94,000 16,000 20,000 730 220 1,000

211,200 388,071,753 38,418 216,129,913 633,925 2,797,185 89,571,669.50 1,020,240 212,871 2,255 8,793,118 2,826,795 1,380 244,430 43,220 7,400 128,791 550,980 790

INDUSTRIAL

37,396,706 72,750,482 2,610,275.00 18,697,875 104,326 -4,186,264 -1,161,895 -130,000 19,439 100,000 -

ACEN CORP 4.26 4.28 ALSONS CONS 0.56 0.58 ALTERNERGY HLDG 0.75 0.76 ABOITIZ POWER 38.05 38.1 RASLAG 1.2 1.24 BASIC ENERGY 0.191 0.194 FIRST GEN 17.9 17.94 FIRST PHIL HLDG 64.05 64.2 MERALCO 372.2 379.6 MANILA WATER 18.94 19 PETRON 3.4 3.44 PHX PETROLEUM 4.5 4.9 REPOWER ENERGY 7.77 7.82 SEMIRARA MINING 32 32.05 SYNERGY GRID 7.72 7.78 SHELL PILIPINAS 11 11.06 SPC POWER 7.05 7.1 SP NEW ENERGY 1.24 1.25 VIVANT 14.62 15.94 AGRINURTURE 0.69 0.7 AXELUM 2.15 2.19 CENTURY FOOD 33.9 34 DEL MONTE 6.2 6.23 DNL INDUS 6.49 6.5 EMPERADOR 20.8 20.85 SMC FOODANDBEV 48.9 49.2 FIGARO COFFEE 0.63 0.64 FRUITAS HLDG 0.85 0.86 GINEBRA 160.5 163 JOLLIBEE 262.4 263 KEEPERS HLDG 1.42 1.44 MACAY HLDG 5.65 6.3 MAXS GROUP 3.22 3.25 MG HLDG 0.097 0.098 MONDE NISSIN 8.27 8.28 SHAKEYS PIZZA 10 10.04 ROXAS AND CO 0.44 0.445 RFM CORP 2.97 2.98 UNIV ROBINA 120.1 120.2 VITARICH 0.5 0.51 VICTORIAS 3.01 3.13 CEMEX HLDG 0.94 0.96 EC VULCAN CORP 0.7 0.73 EEI CORP 6.2 6.24 MEGAWIDE 3.23 3.26 PHINMA 20 20.3 CROWN ASIA 1.53 1.58 EUROMED 0.71 0.79 MABUHAY VINYL 5.55 5.78 PRYCE CORP 5.23 5.25 CONCEPCION 13.64 14.48 GREENERGY 0.24 0.243 INTEGRATED MICR 2.65 2.68 IONICS 1.08 1.09 PANASONIC 5.3 5.65 SFA SEMICON 2.36 2.4 CIRTEK HLDG 1.83 1.85

4.39 0.58 0.75 38.35 1.2 0.194 17.94 64.3 381.4 19.3 3.45 4.9 7.83 32.2 7.4 11.1 7.15 1.29 14.52 0.68 2.22 34 6.25 6.63 20.8 49.5 0.63 0.88 165 266 1.41 5.55 3.4 0.11 8.36 9.82 0.445 2.99 120.9 0.5 3.02 0.97 0.7 6.2 3.19 20.2 1.58 0.79 5.6 5.29 14.48 0.241 2.87 1.1 5.64 2.4 1.85

4.4 0.59 0.76 38.4 1.24 0.198 17.94 64.3 381.6 19.5 3.45 4.9 7.83 32.2 7.8 11.1 7.15 1.29 14.52 0.72 2.22 34.05 6.25 6.63 20.95 49.5 0.64 0.88 165 266 1.44 6.3 3.4 0.11 8.5 10 0.445 2.99 121.6 0.51 3.32 0.97 0.74 6.24 3.26 20.3 1.58 0.79 5.78 5.29 14.48 0.245 2.9 1.1 5.65 2.42 1.85

4.24 0.56 0.75 38 1.2 0.191 17.72 64.05 372.2 18.82 3.4 4.9 7.77 31.95 7.35 10.9 7 1.24 14.52 0.68 2.19 33.3 6.2 6.45 20.8 48.2 0.62 0.84 160 260.2 1.41 5.55 3.22 0.098 8.28 9.82 0.44 2.98 120.2 0.49 3 0.94 0.7 6.13 3.18 19.5 1.53 0.79 5.6 5.23 14.48 0.238 2.68 1.07 5.64 2.36 1.82

4.26 0.57 0.75 38.05 1.24 0.191 17.9 64.05 372.2 19 3.44 4.9 7.82 32 7.78 11 7.1 1.25 14.52 0.7 2.19 33.9 6.2 6.49 20.85 49.2 0.63 0.85 163 263 1.44 6.3 3.25 0.098 8.28 10 0.44 2.98 120.2 0.51 3.05 0.94 0.73 6.2 3.26 20.3 1.58 0.79 5.78 5.23 14.48 0.243 2.68 1.08 5.65 2.42 1.85

12,707,000 913,000 456,000 1,239,400 14,000 160,000 450,700 5,660 248,110 2,790,400 64,000 1,000 42,900 610,400 3,105,100 67,900 111,600 65,226,000 1,300 9,216,000 114,000 705,800 36,100 3,506,000 1,184,000 69,300 2,540,000 7,049,000 17,460 591,600 817,000 1,100 187,000 860,000 2,161,500 82,300 67,030,000 174,000 2,402,010 409,000 48,000 178,000 31,000 160,000 473,000 1,017,600 16,000 2,000 2,900 45,800 600 32,610,000 2,159,000 279,000 1,600 398,000 155,000

54,350,780 524,400 342,010 47,215,215 16,840 31,070 8,054,374 363,562 93,498,732 53,231,750 220,020 4,900 334,826 19,554,450 23,714,906 744,638 789,950 81,632,230 18,876 6,428,300 251,150 23,929,150 223,930 22,857,019 24,688,510 3,395,800 1,599,420 6,008,740 2,817,806 155,966,840 1,172,090 6,180 610,190 84,520 18,053,721 822,411 29,493,300 519,070 289,304,231 205,680 150,960 168,100 21,770 991,321 1,534,120 20,554,180 24,780 1,580 16,492 240,226 8,688 7,912,540 5,877,590 301,540 9,030 959,830 284,560

-12,088,650 -314,710.00 -22,500 3,761,755 2,048,574.00 -35,913 -6,941,154 29,045,256 -4,900 3,426,115 -3,544,787 1,415,640 817,790 6,660 4,661,620 -179,225 -14,522,560 13,306,515 -2,252,160 234,610 50,520 -2,882,746 -630 -139,750 19,600 -4,605,955 784,487 -510,130 -58,742,912 -16,300.00 670 -378,190 968,630 -3,446,890 5,400 -12,050 3,700

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES WELLEX INDUS

1.09 3.01 682.5 49.5 11.6 12 4.82 10.32 5.51 626.5 3.79 41 0.4 4.27 9.15 0.119 1.4 2.69 0.98 905 120.5 1.33 0.265

1.09 3.01 686 49.7 11.7 12 4.9 10.32 5.51 627.5 3.79 42.2 0.425 4.27 9.15 0.119 1.4 2.69 0.98 905 124.7 1.33 0.275

1.05 2.81 678.5 48.8 11.56 11.9 4.82 10.2 5.51 612 3.59 40.35 0.4 4.27 9.03 0.119 1.4 2.65 0.98 890 119.4 1.33 0.265

1.07 2.81 680 49 11.6 12 4.9 10.28 5.51 617 3.61 41.9 0.425 4.27 9.03 0.119 1.4 2.65 0.98 890 124 1.33 0.27

2,906,000 14,000 448,780 783,200 2,873,000 51,400 238,000 1,733,900 300 133,040 10,000 6,327,500 20,000 10,000 1,148,800 10,000 30,000 72,000 80,000 303,240 539,000 1,000 1,340,000

3,079,830 41,710 306,619,850 38,458,020 33,295,054 616,730 1,160,530 17,827,790 1,653 82,866,915 36,200 263,571,175 8,250 42,700 10,431,642 1,190 42,000 192,500 78,400 270,279,470 66,542,679 1,330 362,000

549,450 57,530,420 -24,477,650 7,816,052 -72,890 8,344,846 29,223,785 42,974,555 -747,490 -35,779,470 55,412,632 -

1.06 2.81 680 49 11.58 11.9 4.89 10.24 5.51 617 3.61 41.3 0.395 4.3 9.03 0.12 1.4 2.65 0.98 890 124 1.33 0.26

1.07 3.01 684 49.2 11.6 12 4.9 10.28 5.59 624.5 3.79 41.9 0.43 4.48 9.12 0.141 1.5 2.66 0.99 896 124.1 1.79 0.27

PROPERTY ARTHALAND CORP 0.425 0.435 0.43 0.435 0.43 0.435 160,000 68,850 AYALA LAND 33.3 33.5 34 34.2 33.3 33.3 13,881,000 467,341,045 AYALA LAND LOG 1.78 1.8 1.82 1.84 1.78 1.8 692,000 1,240,580 ALTUS PROP 8.99 9.39 8.99 8.99 8.99 8.99 400 3,596 ARANETA PROP 1.01 1.04 1 1.05 1 1.04 3,211,000 3,289,480 AREIT RT 34.05 34.1 33.8 34.1 33.8 34.1 341,200 11,609,860 A BROWN 0.64 0.66 0.64 0.65 0.64 0.65 87,000 56,540 CITYLAND DEVT 0.69 0.7 0.69 0.73 0.69 0.7 56,000 39,270 CROWN EQUITIES 0.066 0.072 0.072 0.072 0.072 0.072 10,000 720 CEB LANDMASTERS 2.63 2.64 2.65 2.66 2.63 2.63 765,000 2,026,630 CENTURY PROP 0.265 0.27 0.27 0.27 0.27 0.27 130,000 35,100 CITICORE RT 2.68 2.69 2.65 2.68 2.65 2.68 4,788,000 12,796,260 DOUBLEDRAGON 7.7 7.78 7.6 7.78 7.6 7.78 41,800 321,039 DDMP RT 1.24 1.25 1.25 1.26 1.25 1.25 2,140,000 2,677,570 DM WENCESLAO 5.5 5.88 5.52 5.88 5.5 5.88 70,100 387,797 EMPIRE EAST 0.124 0.127 0.128 0.128 0.124 0.127 680,000 86,470 FILINVEST RT 3.11 3.15 3.19 3.2 3.08 3.11 1,303,000 4,073,960 FILINVEST LAND 0.67 0.68 0.66 0.68 0.66 0.67 3,118,000 2,089,080 GLOBAL ESTATE 0.85 0.89 0.89 0.89 0.89 0.89 1,000 890 8990 HLDG 8.75 8.8 8.8 8.8 8.8 8.8 4,300 37,840 PHIL INFRADEV 0.53 0.57 0.54 0.54 0.54 0.54 28,000 15,120 CITY AND LAND 0.75 0.76 0.76 0.76 0.75 0.75 45,000 33,770 MEGAWORLD 1.97 1.98 2 2 1.97 1.98 16,631,000 33,025,250 MRC ALLIED 1.38 1.4 1.35 1.4 1.35 1.4 319,000 442,230 MREIT RT 13.32 13.36 13.2 13.36 13.1 13.32 895,100 11,848,554 PREMIERE RT 1.52 1.55 1.55 1.55 1.52 1.52 576,000 881,060 RL COMM RT 5.27 5.28 5.21 5.27 5.16 5.27 1,491,800 7,811,475 ROBINSONS LAND 16.1 16.14 16.2 16.28 15.92 16.14 2,921,900 46,871,822 ROCKWELL 1.4 1.45 1.4 1.45 1.4 1.4 25,000 35,050 SHANG PROP 3.9 3.92 3.94 3.94 3.9 3.92 86,000 335,600 STA LUCIA LAND 3.31 3.4 3.41 3.41 3.41 3.41 8,000 27,280 SM PRIME HLDG 33.75 33.8 33.75 34 33.55 33.75 14,943,200 505,099,925 VISTAMALLS 2.3 2.38 2.3 2.3 2.3 2.3 1,000 2,300 SUNTRUST RESORT 0.79 0.85 0.77 0.8 0.77 0.79 36,000 28,160 VISTA LAND 1.78 1.8 1.8 1.81 1.78 1.8 313,000 560,550 VISTAREIT RT 1.72 1.74 1.75 1.77 1.72 1.74 400,000 695,400 SERVICES ABS CBN 5.79 5.8 5.44 5.83 5.44 5.8 3,797,900 21,828,200 GMA NETWORK 8.88 8.89 8.88 8.9 8.88 8.89 443,600 3,944,018 MANILA BULLETIN 0.211 0.233 0.201 0.21 0.201 0.21 180,000 36,900 GLOBE TELECOM 1,805 1,806 1,795 1,815 1,775 1,806 71,185 128,426,010 PLDT 1,276 1,287 1,271 1,297 1,271 1,276 40,730 52,320,895 APOLLO GLOBAL 0.013 0.014 0.014 0.014 0.013 0.014 20,400,000 277,000 CONVERGE 9.31 9.4 9.55 9.64 9.27 9.31 2,565,400 24,029,313 DFNN INC 3.01 3.15 3.13 3.2 2.99 3.19 1,467,000 4,449,720 DITO CME HLDG 2.49 2.5 2.58 2.6 2.49 2.49 4,127,000 10,374,790 NOW CORP 1.18 1.19 1.19 1.19 1.16 1.18 346,000 404,520 TRANSPACIFIC BR 0.134 0.138 0.136 0.136 0.134 0.134 160,000 21,520 ASIAN TERMINALS 15.64 15.7 15.9 15.9 15.7 15.7 6,509,600 103,497,920 CHELSEA 1.46 1.5 1.5 1.54 1.47 1.5 216,000 322,960 CEBU AIR 33.8 34.15 33.5 34.15 33.25 34.15 193,100 6,558,630 INTL CONTAINER 248 248.4 251.2 254.8 245 248.4 1,411,900 349,889,372 LBC EXPRESS 16.9 18.12 18.12 18.12 18.12 18.12 100 1,812 MACROASIA 4.02 4.03 3.98 4.06 3.98 4.02 789,000 3,171,500 PAL HLDG 5.38 5.5 5.38 5.5 5.38 5.5 38,200 206,290 HARBOR STAR 0.82 0.85 0.76 0.82 0.76 0.82 502,000 391,900 ACESITE HOTEL 1.81 1.88 1.88 1.88 1.88 1.88 24,000 45,120 BOULEVARD HLDG 0.064 0.065 0.063 0.065 0.063 0.065 9,450,000 600,370 CENTRO ESCOLAR 8.02 8.74 8.74 8.74 8.74 8.74 1,000 8,740 FAR EASTERN U 562 594.5 562 562 561.5 561.5 70 39,330 IPEOPLE 7.03 7.36 7.36 7.36 7.36 7.36 400 2,944 STI HLDG 0.485 0.49 0.48 0.49 0.48 0.49 1,480,000 717,300 BELLE CORP 1.16 1.18 1.16 1.16 1.14 1.16 783,000 902,900 BLOOMBERRY 9.8 9.89 10 10.12 9.8 9.8 6,513,200 64,147,727 PACIFIC ONLINE 3.91 4.04 4.02 4.1 3.91 3.91 1,853,000 7,350,510 PH RESORTS GRP 0.86 0.87 0.87 0.87 0.85 0.87 199,000 171,300 PREMIUM LEISURE 0.64 0.65 0.66 0.66 0.64 0.65 16,526,000 10,789,520 DIGIPLUS 7.77 7.79 7.76 7.94 7.73 7.79 1,539,600 12,104,272 PHILWEB 1.79 1.82 1.76 1.82 1.76 1.79 349,000 629,400 ALLDAY 0.159 0.16 0.161 0.161 0.159 0.16 1,530,000 243,970 ALLHOME 1.16 1.17 1.2 1.2 1.15 1.17 2,423,000 2,814,520 METRO RETAIL 1.26 1.27 1.26 1.27 1.26 1.26 278,000 350,390 PUREGOLD 28.45 28.5 28.45 28.8 28.35 28.45 554,300 15,819,105 ROBINSONS RTL 39 39.5 39.6 39.85 38.95 39 533,300 20,912,215 PHIL SEVEN CORP 76.2 76.25 76.25 76.25 76.25 76.25 3,360 256,200 SSI GROUP 2.65 2.69 2.7 2.7 2.65 2.65 471,000 1,254,480 UPSON INTL CORP 1.4 1.48 1.51 1.51 1.48 1.48 49,000 73,000 WILCON DEPOT 22.3 22.5 22.2 22.5 22 22.5 2,397,200 53,852,430 APC GROUP 0.22 0.223 0.22 0.223 0.22 0.22 290,000 63,830 MEDILINES 0.31 0.33 0.32 0.33 0.315 0.315 160,000 51,100 PAXYS 1.22 1.29 1.33 1.33 1.2 1.2 11,000 13,350 PRMIERE HORIZON 0.174 0.177 0.173 0.179 0.173 0.178 290,000 50,850 SBS PHIL CORP 4.24 4.44 4.3 4.44 4.3 4.44 11,000 48,280 MINING & OIL APEX MINING 2.93 2.94 3 3.01 2.94 2.94 2,645,000 7,856,010 ATLAS MINING 3.3 3.5 3.5 3.5 3.35 3.35 152,000 511,360 BENGUET A 4.73 4.74 4.72 4.78 4.72 4.74 422,000 1,999,580 COAL ASIA HLDG 0.151 0.177 0.15 0.17 0.145 0.17 330,000 52,750 FERRONICKEL 2.13 2.16 2.15 2.17 2.12 2.16 139,000 298,960 GEOGRACE 0.028 0.032 0.032 0.032 0.032 0.032 300,000 9,600 LEPANTO A 0.075 0.076 0.076 0.079 0.075 0.076 1,110,000 84,100 LEPANTO B 0.076 0.078 0.078 0.078 0.076 0.076 60,000 4,600 MANILA MINING A 0.0045 0.0046 0.0045 0.0046 0.0045 0.0046 4,000,000 18,100 MANILA MINING B 0.0045 0.0047 0.0045 0.0047 0.0045 0.0047 4,000,000 18,400 MARCVENTURES 0.93 0.95 0.97 0.97 0.93 0.93 1,275,000 1,205,250 NIHAO 0.51 0.59 0.5 0.5 0.5 0.5 15,000 7,500 NICKEL ASIA 4.9 4.91 4.99 5 4.9 4.9 6,195,000 30,508,090 PX MINING 3.24 3.25 3.26 3.28 3.24 3.24 423,000 1,375,340 UNITED PARAGON 0.004 0.0044 0.004 0.004 0.004 0.004 7,000,000 28,000 ENEX ENERGY 4.65 4.9 4.61 4.92 4.6 4.9 19,000 88,660 ORNTL PETROL A 0.0079 0.008 0.0081 0.0081 0.008 0.008 22,000,000 176,800 ORNTL PETROL B 0.0076 0.0082 0.0076 0.0076 0.0076 0.0076 2,000,000 15,200 PHILODRILL 0.0076 0.008 0.0076 0.0076 0.0076 0.0076 8,000,000 60,800 PXP ENERGY 3.83 3.93 3.9 3.98 3.83 3.93 23,000 89,330 PREFFERED ACEN PREF A 1,055 1,085 1,085 1,085 1,050 1,050 1,340 1,450,400 ACEN PREF B 1,079 1,080 1,070 1,080 1,070 1,079 1,705 1,836,115 AC PREF AR 2,480 2,508 2,490 2,490 2,480 2,480 875 2,174,200 ALCO PREF C 96 99 98 98 98 98 4,850 475,300 ALCO PREF D 453 500 495 500 495 500 1,520 756,650 AC PREF B2R 490 495 490 490 490 490 100 49,000 BRN PREF A 97.5 98 98 98 98 98 500 49,000 CEB PREF 34 34.6 33.95 34 33.95 34 4,500 152,835 DD PREF 94.05 95 94.85 95 94 95 35,040 3,302,931 EEI PREF B 96.9 97 96.9 96.9 96.9 96.9 1,200 116,280 MWIDE PREF 2B 94.1 99 94.1 94.1 94.1 94.1 9,740 916,534 MWIDE PREF 4 94 94.45 94.5 94.5 94.45 94.5 2,360 223,010.50 MWIDE PREF 5 100.1 101 101 101 101 101 250 25,250 PNX PREF 4 228.8 229 215 244 215 229 1,430 327,248 PCOR PREF 3A 985 990 980.5 990 980.5 990 210 206,000 PCOR PREF 3B 996 997.5 997.5 997.5 997.5 997.5 10 9,975 PCOR PREF 4A 980 1,009 980 1,009 980 1,009 1,505 1,475,045 PCOR PREF 4C 990 1,000 1,000 1,005 1,000 1,000 150 150,400 SMC PREF 2F 72.5 73 72.7 72.7 72.5 72.5 10,000 725,500 SMC PREF 2I 70.55 72.75 70.7 70.7 70.5 70.5 16,000 1,128,159 SMC PREF 2J 68.85 69.1 68.8 68.85 68.8 68.85 11,910 819,810 SMC PREF 2K 68.55 69 69.3 69.3 69.3 69.3 5,000 346,500 SMC PREF 2L 78 78.5 78 78 78 78 4,970 387,660 SMC PREF 2N 77.6 78.5 77.6 77.6 77.5 77.5 17,360 1,345,465 SMC PREF 2O 77.9 78.2 78 78 77.9 77.9 3,100 241,540 TECH PREF B2D 48 48.5 48.5 48.5 48 48 13,200 636,265

-66,438,630 -522,850 652,160.00 640 -5,260 -152,400 60,080 25,200 -276,811 -1,280 -121,890 501,540 1,206,630 -234,300 9,300 -1,447,880 14,290,128 -3,920 -17,050 203,961,060 -50,180 544,455 10,934,185 1,520,272 14,900 1,054,540 -3,520 0 22,420 -982,805 -49,004,500 489,920 3,800 -6,992 177,500 -161,450 -26,209,788 -8,700 186,260 -1,773,283 -87,000 -63,000 10,273,810 -17,038,220 -256,200 -66,250 14,850 -23,314,430 -65,780 -338,860 -129,640 3,040 -22,320 702,660 788,590 -186,000 -1,017,138.50 -9,445 -710,960 -1,128,159 -202,540 -

ABS HLDG PDR 5.4 5.45 5.04 5.5 5.04 5.4 135,000 716,560 GMA HLDG PDR 8.09 8.97

TECH WARRANT

WARRANTS

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

January 16, 2024

PHIL. DEPOSITARY RECEIPTS

0.45%

8.34% n.a n.a

0.21%

1 - Launch date is August 22, 2023.

PSE STOCK QUOTATIONS

HOLDING & FRIMS

Certification cut for 3 Daihatsu cars on safety scandal

www.businessmirror.com.ph

0.29

0.315

0.3

0.32

0.3

70,000

21,200

SMALL, MEDIUM & EMERGING

0.435 0.435 0.415 0.415 460,000 192,000 0.76 0.76 0.74 0.75 424,000 313,890 0.93 0.96 0.93 0.96 110,000 103,760 0.66 0.67 0.64 0.67 74,000 48,040 1.53 1.53 1.53 1.53 9,000 13,770 0.062 0.066 0.062 0.066 550,000 34,680 1 1.03 1 1.01 1,202,000 1,212,810 -36,200 0.28 0.305 0.28 0.305 11,780,000 3,518,850 ()

EXHANGE TRADE FUNDS

105.5 105.9 105.3 105.3 18,790 1,980,046 797,876

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH LFM PROP MERRYMART XURPAS

FIRST METRO ETF

0.415 0.74 0.93 0.65 1.53 0.061 1.01 0.3 105

0.42 0.75 0.96 0.67 1.6 0.066 1.02 0.305 105.3

www.businessmirror.com.ph

Entrepreneur

Integrity in sales leadership

BusinessMirror

‘Shining bright’: Biz for entrep-jeweler glitters in face of pandemic challenges By Roderick L. Abad

The Sales leadership coach Coach Lex

n one of my articles last year, I mentioned that the core of sales and leadership is one and the same—it’s influence. To effectively sell, one needs to influence another into making a purchase. In the same manner, in leading, one needs to influence another to do what needs to be done. Indeed, influence is the cornerstone of sales leadership. And one of the foundations of influence is integrity. It is a highly valued personal trait, and certainly something that needs reinforcing in these times. A person of integrity inspires confidence, builds credibility and trust, and engages people positively. Without an ounce of doubt, integrity is essential in effective sales leadership. Sales leaders with integrity have strong moral and ethical principles, and are committed to doing the right thing even when it’s not easy or popular. In order to become a genuine sales leader, one also needs to become a person of integrity. Here are four tips to develop integrity in sales leadership.

Make your word count

During a brief conversation with a foreigner managing a business in the Philippines, he shared how surprised he was to discover that most clients would request for a signed “black & white” document of any sales and marketing support program that he presents. This is a tell tale sign that in today’s business practice, one’s word is not usually enough. But as a sales leader, make your word count by “making your yes a yes, and your no a no.” Make it a habit to stand by your words, and let people around you know that you are a person of integrity because you honor your word and keep your promises.

Follow-through on your commitments

Speaking of keeping promises, make sure that you follow-through on whatever commitment you made with others. In most business transactions, we tend to provide assurances and promises, as part of the deal. Whatever these may be, see to it that you always deliver on your commitments. A good dictum for integrity is this—under-promise, over-deliver.

Be consistent

One sure way of developing trust and getting people to count on you is to be consistent in what you do. Don’t just make your word count once in a while, make sure that they can count on you all the time, every time. Always practice integrity, day in and day out. Remember, integrity is not achieved in a day, you need to practice it daily.

Live a principled life

Do not sway wherever the wind blows. You need to define where you draw the line. What do you stand for? What are the moral and ethical principles that you live by? A principled life means that you will do what is right no matter how unpopular and difficult it may be. This is how respect develops, and becomes the barometer of the true weight of what you say. In other words, you have to lead by example and practice what you preach. Truly, as a sales leader with integrity, you have to walk the talk. Consistently and genuinely practice these four tips and soon you will be able to inspire confidence, build trust, engage people more positively, for the long haul. That’s the power of integrity in sales leadership. Alexey Rola Cajilig is the President of ARCWAY Consultancy Inc., Executive Director of ARC DOCENDI, and the Executive Managing Director of EM-CORE Foundation Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of The effective Seller. He is also the creator of ARCH Styles, a behavioral and personality assessment tool. If you have questions and suggestions, you may send an email to salesleadershipcoachlex@gmail.com.

Editor: Vittorio V. Vitug • Wednesday, January 17, 2024 B3

@rodrik_28

Contributor

HROUGH thick and thin, the jewelry business is among the very few that can withstand the test of time. Unlike many whose profitability and stability depend on the economic situation, this line of trade continues to strive, especially during crisis. One good example is Mayet Dela Rosa Fine Jewelry, which is like a diamond in the rough that only becomes a precious stone with constant cuts and polishing. Incepted in 2006 by spouses Mayumi and Richard Dela Rosa, it has turned into a flourishing enterprise, engraving its reputation as among the best and trusted local jewelry brands. The former has ever since developed a penchant for such wearable adornments. In a roundtable discussion, she recalled: “Before, I didn’t have the means to buy, so I just contented myself looking at them when I worked in my brother’s pawnshop. Since I couldn’t afford back then, I just bought a fancy one.” Witnessing how her sibling’s life has prospered, she dreamt of owning one, saying “I also wanted to get rich.” Eventually, it manifested—thanks to her supportive husband.

From vision to realization

SOMETIMES it takes a life’s moment for a dream to become true. In the couple’s case, when Mayumi went home one day, she told Richard that’s she felt frustrated because they waited in vain for so long in a pawnshop and yet the owner did not trade any piece of jewelry that they could resell the next day. The latter, who was a university

MAYUMI “Mayet” Dela Rosa (left), vice president of Mayet Dela Rosa Fine Jewelry, personally attends to their customers. THE facade of Mayet Dela Rosa Fine Jewelry’s mall outlet

professor, then, thought of himself as a source of jewelry for her better half. While unfamiliar at first with the pawnshop industry, he studied the ins and outs of the business. With an initial capital of P200,000, he opened the first Dela Rosa Pawnshop in May 2001 at Zapote in Las Piñas City, where it still stands up to this day. “That started it all, and the rest is history,” he said of their diversification into a jewelry enterprise named after the nickname of her partner, “Mayet,”with the opening of the first shop in Sta. Cruz, Manila after five years that eventually laid the foundation for the Dela Rosa Group of Companies. According to him, one of their secrets to success is the variety of their offers, including jewelry, gold, platinum, diamonds, precious stones, crystals, watches, and sterling silver. They are known for their custommade pieces, mostly “engagement and wedding rings,” apart from friendship and promise rings, jewelry sets, pendants, and necklaces. Besides their buying and selling models, the enterprise also provides comprehensive jewelry repair services, including engraving, ring resizing, real gold plating, jewelry cleaning, gold chain fixing, clasp repair/replacement, and gemstone re-

RICHARD Dela Rosa, president of Mayet Dela Rosa Fine Jewelry

setting. The business, likewise, gains a big following for its affordability. “We live up to the expectation of our customers. Our slogan is ‘Affordable luxury.’ So even below or minimum wage-earners can have their own jewelry from us,” said Mr. Dela Rosa, who serves as the president of Mayet Dela Rosa Fine Jewelry.

‘Crisis-proof’

AMID the closure of many enterprises during the Covid-19 crisis, the gold and jewelry business like theirs was resilient enough to remain operational even during the lockdown periods. With their innovativeness, the Dela Rosas still managed to sell online. “In the Philippines now, what is really good about our jewelry industry is that Filipinos treat jewelry and gold as part of their family like an investment,” he pointed out, while citing that their brisk business continued

Mekeni, Vantage Energy donate learning essentials to Porac school

OR AC, Pampanga—A school here, nestled in the mountains and serving the Aeta Community, received learning essentials through the 2023 Back-To-School Donation Drive recently conducted by homegrown brand Mekeni Food Corporation in partnership with its Retail Electricity Supplier (RES) and Meralco’s first affiliate RES, Vantage Energy Solutions and Management Inc. The Villa Maria Integrated School in Porac received backpacks, books, school supplies, printers, and reusable water bottles, benefiting both the faculty and the students from kindergarten to high school. The donation drive is conducted through Vantage Energy’s umbrella program, iMPower, which aims to give back to the community they serve by supporting Filipino education. Mekeni also donated 14 wall fans to the school, and fed more than 500 students and school personnel. “The meals were prepared by Mekeni employees themselves,” said Mekeni AVP for HR and Exports Marilou Uy. Uy, along with Mekeni’s Human Resources and Marketing Departments, joined the program. At the same time, Mekeni also conducted an emergency preparedness training led by the

Marilou Uy, Mekeni’s AVP for HR and Exports, gives bag to students of Villa Maria Integrated School

Emergency Preparedness and Response team. According to Uy, Mekeni

wishes to continue to uplift the lives of the community and help fellow Kapampangans, especially the indigenous people (IP) in Pampanga. Additionally, Uy revealed that Tatay Felix Garcia, the founder of Mekeni and a former teacher, shares a close personal relationship to this project because he was among the first volunteers to be deployed as teachers in IP communities. Vantage Energy’s annual Back-To-School Donation Drive was launched in 2020 during the pandemic with the support of customer partners like Mekeni. Since then, the program has already reached 19 schools and over 19,000 students nationwide.

even at the height of the pandemic as many would buy from them to have an asset that they could keep and sell in case of another crisis happen. For instance, gold has become more in-demand when it comes to the material of jewelry that they would purchase since its value could appreciate over time and it could easily be converted into cash when the need arises, per Mayet. “So the jewelry industry has even strengthened during the pandemic,” said the company’s vice president.

Future endeavors

AT present, Mayet Dela Rosa Fine Jewelry’s business remains robust. Across its 19 outlets in Metro Manila and nearby provinces of Antipolo, Batangas, Cavite and Laguna, the best-selling items are rings, earrings, necklace and bracelets that appeal

FSSI presses for more ‘responsive’ govt support programs for SMEs By Rizal Raoul S. Reyes @brownindio | Contributor

Villa Maria Integrated School teachers and students with representatives from Mekeni and Vantage Energy.

THE display of wide array of jewelry at Mayet Dela Rosa Fine Jewelry.

to a broad market segment and age group from 20 to 60 years old, including the Millennials and Gen Zs. While the industry is considered as the “red ocean” with many competing players, what separate their trade from the rest are the “convenience and innovation” they offer to customers. Post-pandemic, they can still buy jewelry anytime, anywhere online (www.mayetdelarosa.com) that can be delivered here and abroad as far as the United States and Europe. Mayet Dela Rosa Fine Jewelry boasts of pioneering the physicaldigital or “phygital” store concept in the jewelry business in the country, with the soft launch of two branches located at the Megaworld’s Eastwood in Libis, Quezon City and Venice Grand Canal Mall along McKinley Hill in Bonifacio Global City, Taguig. Bringing the business to the next level, Richard bared their plan to offer it for franchise in the “first or second quarter of 2024,” with the hope of opening their first branch in Mindanao and pioneering outlet in Visayas. “We can scale as many as we can, and we are envisioning that Mayet will be like 7-11 of jewelry. With the help of those people or investors, we can make it even internationally,” he said, adding their target to also launch new collections monthly and having their wedding and engagement rings licensed to protect the copyright of their designs.

he Philippines still needs to develop a national program and enforce policies that would enable small, medium enterprises (SME) to flourish apart from what is available to regular businesses. Sixto Donato Macasaet, executive director of the Foundation for a Sustainable Society Inc. (FSSI), told the BusinessMirror in an e-mail interview that SMEs should be recognized and supported by the government since providing these social and environmental benefits to the communities they serve entails costs and makes it harder for them to compete against other businesses. FSSI has been an active member of the Poverty Reduction through Social Entrepreneurship (PRESENT) Coalition, an alliance of social enterprise practitioners and support institutions that have joined together to advance social entrepreneurship as an approach to poverty eradication and economic development. Macasaet said the present coalition and its allies are calling for the passing of the Poverty Reduction through Social Entrepreneurship Bill, which primarily aims to acknowledge and support social enterprises for their role as partners of the government in poverty reduction and provide responsive SME programs to enable them to thrive and lift more people out of poverty. Meanwhile, a substitute bill was recently approved by the Committee on Micro, Small, and Medium Enterprise Development of the House of Representatives, while a Technical Working Group to rec-

oncile the various versions of the proposed bill was formed in the Senate. Macasaet pointed out that social enterprises face more complex challenges in balancing social, environmental, and financial goals. “As an SME resource institution and impact investor, FSSI offers long-lasting partnership instead of purely financial transactions,” he said. Through its triple bottom line approach, he said FSSI incentivizes businesses to move beyond the profit bottom line by providing targeted financial and business development services to address concerns on access to capital, human resource development, technical assistance, and other challenges that SMEs face. Meanwhile, Macasaet said FSSI continues to scale up social entrepreneurship by offering financial and non-financial products to Filipino enterprises, promoting inclusive socioeconomic growth and environmental sustainability. He said the unique nature of social enterprises in balancing their social mission and economic viability also requires targeted support and intervention from the public sector. Founded on the principles of People, Planet, and Profit, FSSI offers customizable services that empower social enterprises to ensure they thrive in their respective sector and foster holistic community development. Through its triple bottom line (3BL) approach, which measures People, Planet, and Profit as the main indicators. He noted FSSI has benefited over 280 local social enterprises, resulting in deeper support to the communities they belong to, more paths to sustainability, and more profitable businesses—all at the same time.

Banking&Finance BusinessMirror

Wednesday, January 17, 2024 • Editor: Dennis D. Estopace

Shari’ah oversight on Islamic banking helped by SSB–BSP

By Cai U. Ordinario

@caiordinario

he Bangko Sentral ng Pilipinas (BSP) has emphasized that the Shari’ah Supervisory Board (SSB), the members of which recently convened for the first time, would strengthen Shari’ah oversight on Islamic banking. “The SSB is a convergence of expertise in Islamic jurisprudence and contemporary finance,” BSP Governor Eli M. Remolona Jr. was quoted in the statement as saying. “It will strengthen Shari’ah oversight on Islamic banking and finance while complementing existing conventional governance frameworks.” The BSP said the SSB’s mandate is to issue opinions on Islamic banking transactions and products in the Bangsamoro Autonomous Region in Muslim Mindanao (Barmm). “The BSP, financial institutions, and other stakeholders may also request the SSB to provide opinions on matters related to Islamic banking

and finance,” the central bank added. Barmm Chief Minister Ahod Ebrahim emphasized during the SSB’s inaugural meeting on December 15 in Manila that the board serves as a key element and a powerful tool. In a statement, Ebrahim said the board reinforces the commitments of the BSP, the Department of Finance (DOF) and the National Commission on Muslim Filipinos (NCMF) “to financial stability grounded in sound corporate governance.” At the meeting, the Bangsamoro Government announced the appointments of Muhammad Nadzir S. Ebil and Ashraf Bin Md Hashim as SSB Chairman and Deputy Chair-

man, respectively. The newly-appointed SSB officials are both alumni of the Islamic University of Madinah, Kingdom of Saudi Arabia. Ebil currently serves as the Dean of Graduate Studies and College of Shari’ah at Jamiat Cotabato and Institute of Technology. He is also a Jurist of the Bangsamoro DarulIfta’, an Islamic Advisory Council in the BARMM. Hashim is internationally recognized as the chairman of the Shari’ah Advisory Council of Bank Negara Malaysia, chairman of the Shari’ah Committee of Bursa Malaysia and member of the Shari’ah Advisory Council of Securities Commission Malaysia. “The appointment of Dr. Ebil and Dr. Hashim guarantees a partnership of local and international Shari’ah scholars at the helm of the SSB,” the BSP said. Members of the SSB from the founding agencies are BSP Assistant Governor Arifa A. Ala, DOF Undersecretary Bayani H. Agabin, Bangsamoro Government Minister Mohammad S. Yacob and NCMF Division Chief Aleah S. Marabur. Other members are representatives from the private sector, namely: Rusni Binti Hassan, who serves as

Dean of Institute of Islamic Banking and Finance at International Islamic University Malaysia and Chairman of the Shari’ah Committees of various Islamic financial institutions in Malaysia; Abdulwahid A. Inju, Mufti of Province of Tawi-Tawi; and, Salih D. Musa, Philippine representative to the World Assembly of Muslim Youth. The SSB was formed to implement the founding agencies’ shared mandate under Republic Act 11054 or the Bangsamoro Organic Law. This is to promote Islamic banking and finance in the Barmm. These efforts will also complement the BSP’s Shari’ah Governance Framework for Islamic banks and Islamic banking units. “The establishment of the SSB is not just for formality; it is a tangible expression of our shared dedication and commitment to just, equitable, ethical, and Islamic financial practices,” Ebrahim was quoted in a statement as saying. “We are certain that this board, which has been tasked with overseeing Islamic banking operations, will undoubtedly help our country’s economy flourish. It is the key to releasing the vast potential of Islamic finance in our region,” the Chief Minister added.

www.news.businessmirror@gmail.com

Better inflation climate grants BTr elbow room By Jasper Emmanuel Y. Arcalas @jearcalas

HE national government raised P30 billion on Tuesday from the tender of Treasury bonds (T-bonds) on the back of easing yields sought by investors amid a better inflation climate. The Bureau of the Treasury (BTr) saw its Tuesday auction for the 7-year T-bonds being oversubscribed by 3.57 times than its programmed amount with total bids reaching P107.095 billion. The higher demand provided the Treasury with sufficient elbow room to accept offers with favorable yields for the national government. The average yield for the T-bonds settled at 6.094 percent with a range of as low as 6 percent and as high as 6.125 percent. Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort emphasized that the country’s easing inflation rate contributed significantly to the lower yields sought by investors for the 7-year T-bonds. The country’s inflation rate in December eased further to 3.9 percent as prices of key commodities and services dropped during the month, according to the Philippine Statistics Authority (PSA). Ricafort noted that the 6.094 percent average yield for the latest 7-year T-bonds auction was lower than the 6.807 percent recorded in

the previous 7-year T-bond auction last November 2023. “The 7-year T-bond auction yield also lower than the comparable 7-year PHP BVAL yield at 6.12 percent as of January 15, 2024 after the unusually huge demand/total bids at PHP107.095 billion after recent hints of a possible local policy rate cut of -1.00 [basis points], the Fed’s dot plot already showed -0.75 [basis points] possible Fed rate cut for 2024, but the markets priced in a possible larger Fed rate cut of about -1.50 [basis points] for 2024,” the RCBC executive said. The Treasury has been successfully making full awards on its T-bonds and Treasury bills (T-bills) auctions left and right this month. The Treasury has yet to make a partial award, mixed award or full rejection of its auctions so far this year. The national government has set its borrowing plan this year at P2.46 trillion, some P253 billion more than last year’s P2.207 trillion gross borrowing plan, based on state budget documents. This year’s borrowing program would still follow a 75:25 mix in favor of domestic sources. The Marcos administration will borrow P1.853 trillion from the domestic market through the sale of T-bills and T-bonds. The Treasury will tender a total of P51.050 billion worth of T-bills and P1.802 trillion worth of T-bonds for the entire 2024.

Senate wraps up hearings Marikina exempts SMEs from tax, business permits on finance-related scams By Claudeth S. Mocon-Ciriaco @claudethmc3

By Butch Fernandez @butchfBM

HE presiding chairman of the Committee on Banks, Financial Institutions and Currencies, Senator Mark A. Villar, successfully steered the discussions on three Senate Resolutions, six Senate Bills, and one House Bill, collectively called the AntiFinancial Account Scamming Act, or “Afasa.” Villar was quoted in a statement as saying he found “a dramatic rise in cyber financial crimes such as online selling scams, investment scams, loan scams, and love scams among others.” “We are made aware that these kinds of schemes and scams are rapidly evolving,” the Senator added voicing “distaste for the heinous acts of scammers and opportunists” who are continuously victimizing Filipinos. Reiterating the need for a legislative measure that not only provides for a penalty after the fact, Villar stressed that also needed is “but one that effectively responds to or even prevents criminals from facilitating these scams.” “Trust is the currency of bank-

ing and finance,” Villar reminds, adding: “We need to strengthen our financial institutions para mapanatag ang ating mga kapwa Pilipino [to reassure our fellow Filipinos] to conduct their financial transactions.” During a Senate hearing, Villar posed inquiries to the stakeholders present including those from the Bangko Sentral ng Pilipinas (BSP), GCash operator G-Xchange Inc. and the Anti-Money Laundering Council (AMLC), among others, on the current security measures being used by financial institutions to secure transactions between and among consumers. “We should have a good grasp of the current practices in use so that we could use them to springboard the additional practices that we would include in Afasa. We have to continuously improve our legal system, and if possible, be two steps ahead of the scammers at all times to effectively protect the public from their nefarious acts,” he said. The public hearing on the Afasa proposal has been moved to its close as the committee will move to the formation of a technical working group, which will finalize the substitute bill for the Afasa.

BIR chief orders officials suspended for violations

NTERNAL Revenue Commissioner Romeo D. Lumagui Jr. has ordered the suspension of 26 employees of the Bureau of Internal Revenue (BIR), read a statement the agency issued last Tuesday. “Lumagui has earlier stated his mission to have a BIR that is filled with professionals that have integrity,” the statement read. According to Lumagui, the suspension of the BIR officials “shows our commitment to the Filipino people.” “You deserve only the best in public service. The BIR will continue to create a culture of professionalism and integrity under my watch,” he was quoted in the statement as saying.

Under Lumagui’s administration, the BIR has 21 approved formal charges with preventive suspension orders. Of the 21, 18 were implemented and the remaining three are due for implementation. On the other hand, the BIR has also approved decisions imposing suspension of five employees as a penalty. A total of 26 BIR employees were suspended. The suspension of these officials was brought about by their acts constituting grave misconduct, serious dishonesty, gross neglect of duty, violation of reasonable office rules and regulations, violation of anti-red tape act of 1997 and conduct prejudicial to the best interest of the service, according to the BIR.

ARIKINA Mayor Marcelino “Marcy” R. Teodoro signed last Monday Ordinance 140 providing 100-percent business permit and business tax exemption to qualified sari-sari stores and carinderias in the city. In a statement issued last Tuesday, the local government of Marikina said the ordinance was issued as the country still suffers from the repercussions of the Covid-19 pandemic, “making the assistance even more essential and appropriate. Covered under Ordinance 140 include: sari-sari stores and carinderia or eateries with start-up capital of not more than P10,000 (around $179) or an annual gross receipt of not more than P180,000 (about $3,216). Meanwhile, excluded from the exemption in business tax, business permit and regulatory fees are the following: sari-sari stores selling cigarettes or liquor or both regardless of start-up capital; eateries selling cigarettes or liquor or both regardless of start-up capital; and, sarisari stores, carinderia or eateries with start-up capital of more than P10,000. “The exemption period of business tax, business permit and local regulatory fees and charges shall begin January 1, 2024 to December 31, 2024,” read the ordinance.

This January 15, 2024, photo shows Mayor Marcelino “Marcy” R. Teodoro (left) during the awarding of tax certificates to micro-scale and small-sized business owners. CREDIT: MARIKINA LGU PHOTOS All exempted sari-sari stores and carinderias will be issued the necessary certificate of exemption by the Business Permits and Licensing Office (BPLO), the statement read. Teodoro said the city government is providing tax relief to small businesses such as sari-sari stores and carinderias to help small businesses still reeling from the effects of the pandemic. “Ginagawa natin ito hindi para makita lang; hindi para ipagyabang. Ginagawa natin ito para makatulong. Kaya naisipan natin na ito na. Imbis na i-discount, ililibre na lang natin ang business tax.” [We’re not doing this just to be noticed; not to brag about. We do this to help. So we thought,

Stolen credentials

N the United States, stolen valor refers to the behavior of military impostors, individuals who lie about their military service. There are actually some states that consider it a crime to fraudulently wear medals, embellish rank or make false claims of military service to obtain money, employment, property or some other tangible benefit. With such a high regard for soldiers who have served their country, it is only appropriate that their integrity is protected. Having been a part time professor for over 30 years in a number of top universities in both the graduate and undergraduate programs, I take interest in the teaching profession. I was recently looking over some of the credentials posted by the faculty of a known and highly respected university and I was quite disappointed at this faculty who shamelessly claimed to have been the COO of a leading

Finex free enterprise George S. Chua company in a particular industry in the Philippines. This is definitely, to put it politely, a misrepresentation. First of all, as a professor, we are supposed to hold ourselves to certain standards of integrity. The school, students and even fellow professors look at the qualifications and credentials of the instructor to determine their suitability in terms of the courses they teach, who their students are, their rank, pay grade and so on. Typically, qualifications and credentials include their formal degrees, awards and distinctions,

instead of discounting, we will just exempt the business tax.] Teodoro also inked Ordinance 139, extending the period for renewal of business permits without surcharges and penalties until March 31, 2024. “[The extension period for renewal of business permits is] in support of the thrust of the administration to encourage and support businesses in the City, there is a need to provide an extension on the timely payment of such taxes, fees or charges, to give ample time to business owners in the City to file their respective application,” it noted. The city’s chief executive said he

work experience in terms of years, function and title, and other competencies. If you have to lie about these things, the teaching profession is not for you. It may be ok for you to delude yourself, but shame on you for forcing your delusion upon your students! Secondly, the educational institution itself should police the credentials of all their personnel, especially their faculty. They owe it to their students to ensure that their professor is qualified to teach a particular course and that these students chose that class because of the credentials of the faculty. Embellishments should not be tolerated and it also reflects poorly on the college or university to have faculty that claim more credentials than they actually have or deserve. Faculty with stolen credentials are an embarrassment to our profession and the academic institution they work in. Such professors should not be tolerated and be banned from

knows the struggle of business owners to keep their businesses afloat that’s why they came up with the extension of the renewal of business permits. “Siguradong may mga hindi makakapagbayad on time kasi uunahin muna yung mga kailangan sa tindahan. Kaya inextend natin muna ngayon ang ating business permit,” Teodoro said. [There are definitely those who cannot pay on time because the things needed at the store will be prioritized first. So let’s extend our business permit.] He explained that the deadline was set on January 20. “Sabi, paano kung hindi makabayad, edi i-extend natin. Hanggang kaya nating ibigay yun, ibibigay natin. Ganun ang taga Marikina,” the mayor added. After signing the ordinances, Teodoro and Vice Mayor Marion S. Andres personally handed tax relief certificates to owners of sari-sari stores and carinderias. In January last year, Teodoro, through Ordinance 006, also extended the deadline for renewing business permits in an effort to aid owners of microscale, small-sized and medium-scale enterprises who have been negatively impacted by the Covid-19 pandemic and economic crisis. The city government of Marikina first implemented the full business permit and business tax exemption for sari-sari stores and carinderias in 2017.

ever teaching again. I can think of many reasons to make use of stolen credentials but none of them good. As a student, if you have doubts on the credentials of your professor, you should speak out and ask the faculty involved directly or make inquiries and bring this to the attention of the school administration or academic department head. Don’t you think the tolerance level for stolen credentials should be zero? The views and comments of Dr. George S. Chua are his own and not of the newspaper or FINEX. The author was 2016 FINEX President, 2010 to 2020 FPI President, an active Entrepreneur in fintech, broadcast, media, telecommunications, properties and a regular member of the National Press Club. Dr. Chua is also Professorial Lecturer 2 at the University of the Philippines’s Diliman Campus and BGC Campus, the Vice Chairman and Governor of the Market Governance Board of the PDEx and a Trustee of the Finex Foundation. Comments may be sent to georgechuaph@yahoo.com or gschua@up.edu.ph.

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos • Wednesday, January 17, 2024

Building trust in the workplace ‘BENILDE OPEN DESIGN AND ART’ LAUNCHED

IN celebration of its 35th year, the De La Salle College of Saint Benilde has launched the Benilde Open Design and Art 2024 (Benilde Open), an initiative that welcomes artists, architects, technologists, engineers, industrial designers, craftsmen, illustrators, textile designers, animators, playwrights, composers, poets, filmmakers, cinematographers, lighting designers, fashion designers, chefs and all creative practitioners—to heed the call to submit proposals to realize projects that have not seen the light of day. The Benilde Open Call thematically explores the curious mindset. Proposals should revolve around curiosities on movement and its relationship to sustainability; the shuttling of thinking across craft and technology; and the culturing of the virtual with the real. The call further seeks design and art projects marked by an appetite for investigation and experimentation, for tinkering that fuels renovation and innovation. Submissions of proposals are ongoing until January 31, 2024. All selected proposals will be announced by March 2024. The entries will be reviewed and selected by a noteworthy jury, local and international advocates representing the creative industries. Ten projects will each be awarded a grant of up to P300,000 net of taxes, to assist in bringing the projects to fruition. The Benilde Open Design and Art 2024 also features the “Best of Benilde,” a juried degree exhibition of student works. An open call for proposals is extended to all students of De La Salle College of Saint Benilde: School of Environment & Design, School of Arts, Culture & Performance, School of New Media, School of Diplomacy & Governance, School of Hotel, Restaurant & Institution Management, School of Management & Information Technology, School of Multidisciplinary Studies, and the School of Deaf Education & Applied Deaf Studies. Students are encouraged to submit proposals of school projects resonating with the idea of curiosities spanning sustainability and movement, the intersection of craft and technology, and the exploration of digital or virtual domains. The Best of Benilde delves into these queries: Is there such a world? Can such a world be more than imagined? Can we create foundational designs and proposals for such worlds to become more than just fanciful ideas? The Benilde Design and Art Open 2024 is dedicated to shaping art and design sensibilities by championing innovative and collaborative projects across diverse creative disciplines within and outside the school. The project is facilitated by a working team of convenors who are faculty, associates or consultants in service of the school: Ayi Magpayo, Rita Nazareno, Gabby Lichauco, Joselina Cruz and Dindin Araneta, together with Benilde president, Br. Dodo Fernandez, a visual artist. More information on the Benilde Design and Art Open 2024 and the call for proposals in two categories is available at open.benilde.edu.ph.

RUST is what binds a team together and helps it achieve more than the sum of its members. As the main culture builder of a team, leaders need to develop an environment where their team can trust them and each other. A team that mutually trusts each other will collaborate faster because they will focus on reaching mutually beneficial goals. Team members can decide faster when they know their leader is behind them and they can rely on each other for support. It also becomes easier to negotiate with clients and stakeholders because they share the same values and mindset as their leader. In times of change, teams will find it easier to adapt because everyone in the team understands that they have each other’s back. This, in turn, reduces stress and burnout because they are more focused on how to not only make their work easier but also be more productive, and they can critically think of how they can approach issues creatively. Lack of trust in the workplace reduces one’s drive to go to work, engage with co-workers, and remain in the same team. When trust is low, people tend to do just the bare minimum or pass their work to others. Worse is when a team is divided into factions and they compete with one another for recognition. Trust begins with you as the leader. Your team needs to know and feel they can trust you because you do what you say and you have the integrity to follow through. Your team also needs to know you have their best interests at heart and you aim to foster good working relationships by modeling the work ethic you demand from your team. One way to do this is to maintain the behaviors you want for your team by appreciating those behaviors, and coaching them on those that are counterproductive or disruptive. Remember that your team will always reflect who you are as a leader because you are in a position to influence them. If you want your team to change, you need to actively encourage those who promote collaboration and correct behaviors that bring down the team. Nothing erodes trust more than playing favorites, and your team always knows your favorites. While it is true that you develop better working relationships with some of your team members than others, this is not an excuse to not reach out to the others in the team. You should spend equal amounts of time with each of your team members as much as you can. When you regularly go out to lunch with only a few of your team members, you are effectively creating

a rift and you will find it more difficult to convince others that you are not playing favorites. Remember that you are in a position to influence your team’s professional growth, and playing favorites will affect your objectivity in performance evaluations. It goes without saying you need to treat everyone fairly by setting clear goals and standards. Being consistent in the way you talk to your team and talking about others will go a long way in fostering trust. The way you talk about other people will tell your team how you talk about them behind their backs. You should always treat people with respect and talk to them as colleagues, rather than close friends. When you joke around during meetings or flippantly respond to requests or questions, you are not only disrespecting your team, but also their time. I am not saying that you need to be serious all the time but as a leader, you need to know how to manage your interactions and react in a polite and respectful manner. Trust is mutual. So, before you can expect your team to trust you, you need to trust them. You need to model your team how to trust others so that they can learn how to trust you. When you micromanage, it tells them that they cannot be trusted to do the work. When you become inflexible and expect your team to be always at their desk, you are implicitly telling them you do not trust them. When you constantly monitor where they are and what they are doing every hour, it shows you do not trust them. For trust to grow, you need to sit down with your team, provide

clear direction on the team’s goals and objectives, and empower them to complete their work. Your team needs to know what is expected of them, and that their performance is evaluated fairly based on agreed standards. Build a culture of transparency by encouraging honest feedback. This will help you identify areas where you can improve as a leader and show them that you listen to what they think are essential elements in making work better and easier. But you also need to exercise good judgment and discern which feedback you can use for improving your team. As a leader, you need to consider everyone’s welfare. When you listen to one or two people only, you breed resentment among your team members. After deciding, you should explain your decision-making process so that they will understand why you chose a course of action over another. When your team knows how you think, it will be easier for them to propose solutions to issues, and it becomes easier for you to decide. Trust in the workplace is fostered by consistency in actions, healthy interactions between you and among your team members, enhanced empathy, and a dynamic collaboration to pursue a common end. When there is trust among the team members and their leader, it becomes easier to own the team’s goals and objectives, and to exert discretionary effort to attain them. When trust is mutual, you create an environment where everyone can depend on anyone in the team. n

PHOTO BY PROXYCLICK VISITOR MANAGEMENT SYSTEM ON UNSPLASH

6 New Year resolutions everybody should make LOSE weight, learn a new language, spend less, travel more: These are just four of the most popular New Year resolutions people make. Ironically, they’re also among the resolutions that rarely make it past the first few months of the year. According to a 2019 study conducted by physical exercise tracker Strava, people are most likely to give up their New Year resolutions on January 19—otherwise known as “Quitters Day.” By the second week of February, a whopping 80 percent would have thrown in the towel trying to achieve the resolutions they so earnestly committed themselves to just weeks before. Why do we make New Year resolutions only to break them? “Because it’s the easier thing to do,” says Jon Edward B. Jurilla, MD, section chief of psychiatry of the top hospital in the Philippines, Makati Medical Center (MakatiMed, www.makatimed.net. ph). “Change is hard. It takes you out of your comfort zone and requires effort to produce the desired results. If you made a resolution, but are accountable to no one but yourself, then there are no apologies or explanations needed when you fail or don’t even try.” How to make 2024 the year you become resolute about your resolutions? “Instead of making grand plans, commit

to simple and doable tweaks to your routines. They help develop healthy habits that not only benefit you but those around you,” Jurilla points out. Unlike ambitious resolutions that can be discouraging to restart when you slack up, resuming these tweaks to your daily routine is easier and their effects will impact you for a very long time. MakatiMed cites six simple resolutions to make and keep beyond the new year: n SLEEP WELL. Aim for seven to nine hours of sleep for most of the week.

“It’s this time when your body and brain rest, recover and repair themselves to function optimally the following day,” shares Jurilla. “Studies have shown that getting the recommended hours of sleep improves your mood, lessens stress, sharpens your ability to think and concentrate. Sleep has also been credited for keeping you at a healthy weight and reducing your risk for life-threatening diseases like diabetes and heart disease.” n EAT MORE VEGGIES. Simply eating four to five servings of fruits

and veggies daily is enough to reap the health benefits of nature’s superfoods. It’s certainly a delicious way to lose weight, reduce blood pressure, and lower your risk of cancer, heart disease, and stroke. “Go for a wide variety and color. Make sure you include dark, leafy green veggies, yellow, orange, and red fruits and vegetables, beans, and citrus fruits in your meals,” reminds Jurilla. n GET AN ANNUAL HEALTH SCREENING. There’s truth to the old saying: Prevention is better than cure. “Certain diseases often go unnoticed because they do not present symptoms,” underlines Jurilla. “A yearly checkup, complete with diagnostic exams, can detect disease, hopefully in its early stages, so you can get timely and appropriate treatment. This saves you costly and stressful confinements in the hospital and prolongs your life.” n EXERCISE YOUR BRAIN. We’re all guilty of mindless scrolling on social media but if you really want to stimulate your brain, MakatiMed suggests doing otherwise. “Play word games, solve a puzzle, compute without using a calculator, read a book, or recite a poem from memory,” suggests Jurilla. “The benefits of engaging in regular physical activity extend to the brain too. It enhances memory, prevents depression,

and cuts your risk of dementia.” n PRACTICE MINDFULNESS. Whenever you worry yourself sick about what the future holds, or seethe all day after recalling a painful past, it’s time to draw your thoughts to the present. “That’s mindfulness for you,” says Jurilla. “Open, active attention to the present, and seeing your thoughts and feelings objectively, without judgment. Mindfulness spares you from thoughts that only lead to anger, anxiety, and depression. It makes you more peaceful to the people around you and less obsessive over things beyond your control.” n CHILL. For some, relaxing is a tall order, especially at a time when there’s work to finish, bills to pay, and people to look after. “But relaxing—or chilling, as some people call it—actually prepares you to face the challenges of daily living,” asserts Jurilla. “When you are rested and recharged, you are healthier. Your breathing and heart rate slow, your blood pressure normalizes, and you are less of a candidate for heart attack and stroke. As such, you have the energy and mindset to deal with life’s stresses.” Chill on your own terms: Is it gardening, dancing, meeting up with friends, or meditating that uplift you? Make time for what makes you happy. Now that’s a New Year resolution to fulfill.

PHOTO FROM MAKATIMED

Wednesday, January 17, 2024

www.businessmirror.com.ph

MO & BEAR PH: BRINGING QUALITY PRODUCTS TO FILIPINO HOMES

FAMILY of four cat-parents decided in 2022 to develop an online platform with the goal to give every Filipino home access to highquality pet care, home care, and lifestyle products. Inspired by their love for their cats and driven by their passion for business, the family envisioned Mo & Bear PH to be your go-to platform in discovering quality products that also promote health, wellness, and sustainability. “We wanted to build a network of manufacturers, suppliers and distributors whose products and services meet our standards of quality, safety and value,”

shared Bernard C. Suiza, President of Azius Ventures Corporation, at their brand and product launch held at Yebisu Ramen Daang Hari in Bacoor, Cavite.

Mo & Bear PH produces its own brand, Purr Delight, a wet cat food that comes in two tuna-based flavors: Tuna in Jelly and Tuna in Moringa. It is the country’s first moringa-enhanced wet cat food. Made with real tuna flakes and without extenders or artificial flavors, Purr Delight is a healthier option compared with other brands in the market. It is produced locally, sourced sustainably, and is certified by the Bureau of Animal Industry. But most importantly, this product is tested and certified to be well-loved by cats. Mo & Bear PH also distributes another proudly Filipino brand, Happy Life Organics. Happy Life’s products include the Happy Life Hand Gel Sanitizer, Happy Life Waterless Shampoo, Pet Shampoo and Conditioner, Pet Neem Soap, and many more. Their extensive line of products are allnatural and eco-friendly, making them a perfect fit for the platform. Mo & Bear also carries Archies footwear, the world’s “comfiest” flip-flops. Designed by physical therapist Daniel Jones, Archies Arch Support Thongs feature a built-in patented arch support made of a specialized memory foam footbed that cradles and molds to your feet. So now your traditional flip-flops can give you all the benefits of orthotic footwear. “We are committed to quality and customer satisfaction. Every item is handpicked, tested and vetted to guarantee its quality and reliability,” Bernard Suiza said. Daughter Trish Suiza emphasized, “All of the products that we put on the platform are products we are excited to use ourselves.” Make sure to visit Mo & Bear and follow their Facebook page and Instagram account.

Don Bosco Mandaluyong Grand Alumni Homecoming 2024 to be held on Jan. 20 T HE Don Bosco Mandaluyong Alumni Batch 1999 is hosting the 37th Grand Alumni Homecoming in celebration of its Silver Jubilee, with this year’s theme, “Reliving the bonds made in Kalentong.” This is an invitation to all of the past pupils of Don Bosco Technical College, Mandaluyong, presented by Don Bosco Mandaluyong Alumni Association Incorporated, to come home and celebrate the best of yesterday, reliving the days when you were jumping daily with friends, running, and enjoying the Bosconian way. Happening on January 20, 2024, Saturday, registration starts at 3 pm, kicking off with a celebrated mass at the chapel by 4 pm, and the program proper is at 6 pm at the DBTC Mandaluyong Gymnasium, with band performances by Clara and Swerve. This event is supported by most of the successful Bosconians in the corporate world. It will surely be a night to remember as special awards, recognition, giveaways, and raffle prizes await the attendees all night long! For inquiries, you can reach them at 09274975882 or by email addresses, dbmanda. alumni@gmail.com or dbmanda_alumni@ one-bosco.org. Visit their official Facebook page: Don Bosco Mandaluyong Alumni Inc. Join the party and light up the night Bosconians!

Experience iconic attractions in Dubai for free with Emirates

MIR ATES recently announced an exciting new offer for travelers planning to visit Dubai. Starting from January 12, people who book f lights to Dubai or add a stopover in Dubai of eight hours or more can enjoy free tickets to two of the city’s biggest attractions—the Museum of the Future and Atlantis Aquaventure. The Museum of the Future is the newest jewel in the Dubai skyline where you’ll be transported into the world 50 years from now. Furthermore, you can cool off on the slides and rides at Atlantis Aquaventure, the world ’s largest waterpark. This special offer is valid on tickets bought between January 12 to February 1, 2024, for travel between January 15 and March 31, 2024. The offer is available in all cabins and bookings made on emirates.com, Emirates call center, Emirates ticketing office, or via travel agents, and can be redeemed at least 96 hours before you travel.

Experience more of Dubai with Emirates FROM soaking up the sun on beautiful beaches, shopping at Dubai Mall, and enjoying the views from the world ’s tallest building, the Burj Khalifa to dining at incredible restaurants in Dubai, why not make Dubai your next winter sun holiday? Other Emirates benefits include: My Emirates Pass: Take advantage of hundreds more offers in Dubai and the UAE thanks to My Emirates Pass. Available until March 31, 2024, just show your Emirates boarding pass at participating restaurants, spas, activities, and more to access exclusive

offers and discounts. Please visit https:// www.emirates.com /ph /english /ex per ience/ my-emirates-pass/ to see all My Emirates Pass offers. Emirates Skywards Partners: There’s more to enjoy as a member of the airline’s awardwinning loyalty program. You can earn Skywards Miles on everyday spends at retail outlets in the UAE with the Skywards Everyday app. Spend your Miles on flights and upgrades or get tickets for concerts and sports events through Skywards Exclusives. Learn more about Emirates Skywards here: https://www. emirates.com/ph/english/skywards/. Emirates currently operates 25 weekly flights from Manila, Cebu, and Clark to Dubai. For more information, visit emirates.com. Sale period: 12 January 2024 to 1 February 2024 Travel period: 15 January 2024 to 31 March 2024 How to claim the free tickets: Booking on emirates.com use promotional code EKDXB24 and you’ll automatically get a one-time free entry code to all passengers in the booking Booking w ith travel agent and through Emirates contact centre or ticketing offices, passengers must send an email to Emiratesoffer@emirates.com including the booking reference, arrival date in Dubai, contact phone number, email address and passenger names. Only passengers in the mentioned booking /PNR (passenger name record) w ill be booked.

SEN. JV EJERCITO VISITS CALAMBA. Senator JV Ejercito visited last January 12, 2024 Calamba City

Mayor Roseller H. Rizal at the Mayor’s office at Calamba City Hall. In addition to extending assistance such as the TUPAD program or extending emergency employment opportunities for displaced workers, Ejercity promised to support the regional as well as the Calamba Hospital. Also present during the meeting was Laguna Governor Ramil L. Hernandez and Laguna Rep. Ruth Mariano Hernandez. PHOTO BY CHRISTOPHER R. SANJI

Coming home with your newborn: how to face the challenges calmly B

ECOMING parents is without a doubt one of the most important and joyful events in life, but it also brings major new challenges. New parents find themselves feeling a whole range of different emotions, which are often in contrast with one another: the joy of the birth of a child is accompanied by the challenges of dealing with major changes to daily life. So while a new mother may fear that she doesn’t have enough milk, a new father may be anxious that he won’t be able to give his family everything it needs; or, while mummy might be afraid of not being able to hear baby breathing at night, daddy might worry about

not sleeping and losing the clarity he’ll need to function during the day. While the fears of mothers and fathers may not share the same details, in reality they all hide a sense of inadequacy and uncertainty that leads new parents to feel anxiety during the magical moment of returning home with their newborn. Here are a few tips on how best to tackle some of the key fears linked to becoming parents for the first time, as well as some advice on how to overcome these concerns. The first rule is to have faith in yourself. Both maternal and paternal instincts exist, and this will help to make caring for baby natural and spontaneous, even when

you’ve never done it before. You don’t have to aim for perfection: children don’t need super-parents, they just need lots of love and plenty of serenity. The second rule is not to get scared if your baby cries. Crying is a baby’s primary way of communicating their needs. If they are hungry, tired, wet or have a tummy ache, little ones will cry, and parents will learn to interpret the reasons for this through a process of emotional “tuning” and will also learn how to calm baby down again. The third rule is to learn to ask for and give help. If necessary, don’t be afraid to “take advantage” of the support offered by a grandmother or a friend for practical

help with household chores or making dinner. Don’t give in to the temptation to clean and dust the house when your little one is resting because those are actually the times when you need to rest too. Tiredness can lead to an increase in fear and anxiety. Finally, how should you deal with the fear of changing your lifestyle? The answer is without worrying too much, living in the present, and trying to prevent yourself from becoming overwhelmed by thoughts about the future. Enjoy the precious moments with your little one, cuddling him (or her!) and watching him smile while he sleeps—let yourself be absorbed in the moment. Visit chicco.com.ph for all your baby needs.

BusinessMirror

Editor: Tet Andolong

Wednesday, January 17, 2024 B7

Avida Land seamlessly blends business and arts By Rizal Raoul S. Reyes

vida Land, the upper middleincome residential brand of Ayala Land, has again proven that it could balance industry and aesthetics. Recently, Avida Land officially unvelied “In Her Future Memories,” a stunning mural artwork and winner of their recently concluded South Park District Mural Design Competition. Tess Tatco, Avida Land’s Marketing Head, expressed her excitement for South Park District’s newest attraction. The towering mural joins Reginald Yuson’s existing installations, painting a vision for South Park as a vibrant place to live and thrive. Tatco envisions not just Avida residents, but people from different cities visiting the mural in person. “Come see ‘In Her Future Memories’ for yourself,” she invites everyone, “and step beneath the towering canvas, feel the pulse of the city and nature merge, and rediscover the charm of the South.” Tatco also pointed out Avida has championed Filipino creativity for years championing the local arts through various partnerships from collaborating with local artists such as Tunog Natin, organizing 3D art competitions in various Avida developments, supporting variousAyala Museum activities, promoting the Manila Symphony Orchestra and providing support to local artisans by buying from them the company’s corporate giveaways. “Driven by the vision in inspiring and enriching lives through art, we launched this contest to transform Avida into a canvas beaming with Filipino talent attracting art enthusiasts from all over and

A group of artists pose for their artworks as Avida Land unveils the biggest outdoor mural in the South with the theme: “In Her Future Memories”a stunning mural artwork and winner of their recently concluded South Park District Mural design Competition. ROY DOMINGO

Anthony Marahuyo shares insights into his team’s winning design.

sparking all over exploring South Park District,” Tatco said. “It is important for both ALI and Avida to enable residents to experience open spaces,” Tatco noted. From championing local artists to elevating spaces with Filipino artistry is Avida’s dedication to the arts, Tatco said the advocacy will continue to strengthen for years to come. She added they believe in the power of art to inspire, connect, and spark conversations, and “In Her Future Memories’’ embodies this spirit. “In Her Future Memories’’ was designed and created by Jhocel “Anthony Marahuyo”

Artists from Marahuyo Studio and Avida Land officials stand proudly before the newly unveiled “In Her Future Memories.”

Officials from Avida Land were present at the official unveiling of the completed mural.

Malicsi and his team of 13 talented visual artists—Rheydene Luca Ortega, Rhealhet Luca Ortega, Laurence Sebolino Gutierrez, Ma. Aleilyn Joyce Domingo Botin, John Roland Alipis, Ainafer Rupal Arena, John Alexis Rupal Arena, Roma Nieves Huet, Rica Permejo, Mia Jormalyn Astrera Balaoro, John Lenarrd Soriano Barua, Michael Grospe Autos, and Jefferson Panghulan Parajas. On board to handle logistics for this team were Jerome Edianel Carandang, Charmaine Abiado Camba, Paul Denvir Delmonte, and John Carlo Decrepito. “Since my team are not artists, I have to educate them on the elements of the art.”

Team leader Jhocel Malicsi and his group executed their winning mural design on one of the exterior walls of the South Park Center. Using paints provided by Davies Paints, they turned the wall into a massive, eye-catching canvas on which the theme was well-interpreted in vivid colors with a clear visual story. Towering 20 meters above the ground, “In Her Future Memories” is the biggest creative mural in the South that is expected to draw multitudes of art lovers and visitors to South Park District, a 6.6-hectare master-planned mixed-use development in Alabang, Muntinlupa City that is home

to 2 Avida residential developments which are Avida Towers Ardane—a pre-selling property, and Avida Towers Altura—a move-in ready home, right across the South Park Center and South Park Corporate Center. The mural’s creative team designed the art piece to adhere to the competition’s theme of “Part City, Part Nature, Pure South.” It prominently depicts a female cyborg whose mechanical parts seamlessly blend with a backdrop of brightly hued tropical flowers, creating a fusion of technology and nature. On the left, where the flowers open up to the futuristic city skyline, onlookers are invited to imagine what tomorrow might bring. Through its appealing imagery, Malicsi said the mural transports us to a world where concrete skyscrapers rise amidst vibrant flora, symbolizing a hopeful future where progress does not come at the expense of the natural world. It’s an image that evokes nostalgia and a feeling of deep connection to one’s hometown. He said the artwork transcends its physical form, offering an opportunity for reflection and creative expression—where casual passersby and art lovers can capture their own special moment and share this online.

SMWPI Wood Products Inc. celebrates 100 years

Benjamin Ng, President of SMWPI Wood Products Inc., warmly addresses their guests at their 100th year anniversary celebration. In attendance were dedicated employees, valued suppliers and partners, and the grateful beneficiaries of their impactful CSR initiatives.

n a celebration in Davao City, SMWPI Wood Products Inc. celebrated its momentous 100th-year anniversary. This celebration marked a century of manufacturing consistently high-quality wood grade and marine plywood products in the country. Established in 1923, SMWPI remains an industry leader known for its commitment to excellence, sustainability, and community engagement. The company’s flagship product, Santa Clara Marine Plywood, has set the gold standard for marine plywood, and is used by local and international boat makers, home builders, and furniture makers. Santa Clara is known as the go-to marine-grade plywood in the Philippines and around the world. Marine plywood differs from standard plywood in the way that it is manufactured. There are various grades

of marine plywood, and it is preferred over other forms of similar construction material for one reason: Quality. When it comes to high-quality marinegrade plywood, Santa Clara is unmatched. It can withstand all weather conditions, which makes it the first choice not just for boats, but for furniture and house construction as well. Each sheet of Santa Clara must pass SMWPI’s stringent quality assurance process, which involves a 72-hour boiling test to ensure that the product is of the utmost quality. Throughout its decades-long history, SMWPI has played an important role in the economic development of its surrounding communities in Davao and Agusan by providing employment opportunities and actively participating in various social and environmental initiatives. These initiatives include providing ready-to-plant

falcata and mahogany seedlings for free, and building projects (a daycare center, chapels, and so on). SMWPI’s success is closely intertwined with the success of its employees, several of who have been with the company for over 20 years, or whose families have been with the company for generations. The company’s dedication to maintaining a supportive work culture has been key in fostering loyalty and among its staff. As part of the 100th-anniversary celebration, SMWPI presented awards and expressed appreciation to their dedicated employees. Randy Ng, Executive Vice President of SMWPI, shared, “Kung wala kayo, wala rin ang kumpanya ngayon. Malaking pasasalamat ng Management sa inyong lahat dahil kung nag-iisa kami, hindi kayo tumutulong, hindi rin tayo aabot hanggang ngayon. Ang ating hangarin ay nag-iisa; hindi tayo nagkakaiba ng hangarin. Huwag lang nating kakalimutan ang ating values at kung paano tayo umabot ng hundred years at sigurado another hundred years, or two hundred years, hindi imposible.” [Without you, the company would not exist today. The Management is very thankful for all of you because if we were alone, without your help, we would not have made it to today. Our purpose is the same; we don’t have different purposes. Let’s not forget our values a nd how we reached a hundred years and for sure another hundred years, or two hundred years, is not impossible.] SMWPI Wood Products Inc. looks forward to a strong and sustainable future as it builds upon a proud legacy of excellence, hard work, and resilience. As the company marks its 100th year, it reaffirms its dedication to provide the best that the Philippines can offer when it comes to high-quality wood grade and marine plywood products.

Megaworld breaks ground for Palawan condo project

Property giant Megaworld has formally broken ground for the 10-story Oceanfront Premier Residences, its first-ever residential condominium development within its 462-hectare ecotourism township Paragua Coastown in San Vicente, Palawan. Rising just a minute’s walk away from both the beach and the soon-to-rise Savoy Palawan, Oceanfront Premier Residences will offer 189 “smart home” units and feature views of the Pagdanan Bay and the lush mountains surrounding Paragua Coastown. Leading the groundbreaking ceremony was Lourdes Gutierrez-Alfonso, chief operating officer, Megaworld (center), who is joined in the photo by (from left) Ar. Astrid Cruz, head of construction management, Megaworld; Ar. Jennifer Romualdez, head of operations, Megaworld; Javier Romeo Abustan, head of sales and marketing, Megaworld Palawan; and Engr. Michael Pamplona, construction manager, Megaworld.

PHL levels up in winter sports —POC head Tolentino

By Josef Ramos

HILIPPINE Olympic Committee (POC) president Abraham “Bambol” Tolentino on Tuesday praised the three Filipino athletes seeing action in the Fourth Winter Youth Olympic Games for raising the level of Philippine sports despite the oddity of a tropical country vying in winter sports. “It’s really good to see that we’re improving,” said Tolentino during a break in the POC extraordinary general assembly on Tuesday at the East Ocean Seafood Restaurant in Parañaque City. The Philippines continue to defy norms by being one of a few tropical countries which qualify athletes for the Winter Olympics. Competing in the games set to open Friday in Gangwon in South Korea are speed skater Peter Groseclose, freestyle skier Laetaz Amihan Rabe and cross country skier Avery Balbanida. The Philippines sent two athletes at the Innsbruck 2012 edition—alpine skier Abel Tesfamariam and figure skater and two-time Winter Olympian Michael Martinez—and also two in Lausanne 2020—speed skater Julian Macaraeg and alpine skier Ana Noelle Wahleithner.

The Philippines did not participate in the 2016 Lillehammer, Norway Winter Youth Olympic Games. Tolentino, Tagaytay City’s incumbent mayor who also heads the cycling federation, praised Southeast Asian nations Thailand and Singapore for also qualifying athletes for Gangwon where they will vie against Youth Olympians from 17 Asian and a total of 79 national Olympic committees. “Southeast Asian athletes are improving in winter sports and we’re happy to be part of it,” Tolentino said. “It’s really a great honor for South Korea for being the first Asian country to host such a big event.” Thailand has 19 athletes and Singapore has two in Gangwon. Groseclose and his parents Tim and Victoria are already in Seoul, Rabe is flying in on Friday and Balbanida is due in Gangwon on January 25. Tolentino and POC secretarygeneral Atty. Wharton Chan will be in Gangwon on Thursday a day before a simultaneous opening ceremony at the Gangneung Oval and PyeongChang Dome. There will be 1,900 athletes aged 15 to 18 from 79 nations competing for 81 gold medals spread over seven sports in the games organized by the International Olympic Committee.

Malixi shares second place after 1st-rd 70

IANNE MALIXI missed forcing a tie for the lead as she closed out with a bogey on No. 18 for a three-under 70 and shared second place with three others one shot behind Japan’s Aina Fujimoto at the start of the Australian Amateur in Melbourne, Victoria, Tuesday. Malixi birdied three of the first 10 holes to put herself in early contention at the par-73 Keysborough Golf Club, one of the two courses staging the host country’s national championship. She then matched Fujimoto’s 69 fashioned out in morning play with back-to-back birdies from No. 16 after a miscue on the 15th. But she hobbled at the finish, yielding a stroke on the shortest of the five par-5s on the 446-yard No. 18 as she settled for a pair of 35s and a share of second with Japanese Mamika Shinchi and Aussies Jazy Roberts Amelia Harris in the 72-hole championship at the 6,314-yard course. Still, it was another impressive start for the young Filipina star, who is coming off a come-from-behind victory in the Australian Master of the Amateurs Championship in Braeside, also in Melbourne, last week. In pursuit of claiming both premier titles in Australia, the International Container Terminal Services Inc.-backed Malixi showcased her skill by birdying the par-5 second hole, gaining another stroke on the fifth and reaching

three-under with another feat on No. 10. A misstep on the 185-yard par-3 No. 15 momentarily slowed her charge but she rebounded with birdies on the next two holes, sharing the top spot with Fujimoto at four-under. The Japanese took advantage of the favorable playing conditions, rattling off three birdies in the first five holes at the backside of Keysborough. She bogeyed the 15th but broke a run of pars with closing birdies on Nos. 8 and 9 to seize control of the 100-player women’s field with a 34-35 card. Shinchi, No. 41 in the women’s amateur ranking, spiked her 36-34 round with an eagle on No. 18 while Roberts and Harris posted threeunder cards at the tougher Yarra Yarra layout, also a par-73. Roberts gunned down four birdies against a bogey while Harris sizzled with six birdies to negate a threebogey mishap and positioning herself in early contention. Looking ahead to the second round, Malixi, 16, aims to navigate the 6,324-yard Yarra Yarra course as the field transitions for Wednesday’s second round. Amelia Whinney shot a 71, also at Keysborough, for solo sixth while India’s Avani Prashanth, who lost to Malixi last week, carded a 72 for a share of seventh with Justice Bosio, Sarah Hammett and Amy Squires.

Saudi reveals high-tech stadium design atop cliff for ‘34 World Cup

SAUDI ARABIA fans hold pictures of Saudi Arabia’s King Salman (left) and Saudi Crown Prince Mohammed bin Salman ahead of the Italian Super Cup final between AC Milan and Juventus at the King Abdullah Stadium in Jiddah on January 16, 2019. AP

Sports BusinessMirror

ednesday, January 17, 2024 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Osaka: I just have to live day by day M

ELBOURNE, Australia— Moments after her Grand Slam comeback ended in a first-round loss, Naomi Osaka walked back through the players’ tunnel where her name has a prominent place among recent Australian Open champions. Three matches into her return from 15 months off the tour, and six months after the birth of her daughter, Shai, Osaka lost 6-4, 7-6 (2) to 16th-seeded Caroline Garcia in a tight encounter at Rod Laver Arena on Monday night. “The competitive in me is really frustrated that I’m not winning these matches, of course,” Osaka told a postmatch news conference. “So I wouldn’t say, like, this comeback is how I thought because I’m delusional enough to think I could have won the tournament.” She smiled, before adding: “I think my delusion is what allows me to win the tournaments.” Osaka won the US Open in 2018 and 2020, and the Australian title in 2019 and ’21. This was the first time she lost in the first round in Melbourne, where she made her debut in 2016.

ENEVA—Saudi Arabia revealed designs Monday for a high-tech stadium atop a 200-meter high cliff near Riyadh where the kingdom plans to stage games at the 2034 World Cup. The 45,000-seat venue will be named Prince Mohammed bin Salman Stadium for the crown prince of the oilrich kingdom that wants to become the major player in world sports over the next decade. The design has a retractable roof and field, plus an LED wall with hundreds of meters of screens to create an immersive experience for fans, the Qiddiya Investment Company (QIC) said in a statement. “The futuristic venue aims to reinvent the traditional stadium concept,” the QIC said. The stadium is a centerpiece of the Qiddiya City project that aims to create an entertainment, gaming and sports

NAOMI OSAKA leaves Rod Laver Arena following her first round loss Monday as a court official lays out new balls for the Camila GiorgiVictoria Azarenka match at Melbourne Park Tuesday. AP She took time out from tennis for her own well-being after first-round exits at the French Open and US Open in 2022. She’s not planning any more breaks for now. “Yeah, I think I just have to keep living day by day and training hard and playing a lot more matches,” she said. “And hopefully my dreams will come true.” The big-serving Garcia didn’t give Osaka a look at a breakpoint in the match. Most of the rallies were short—only three longer than nine shots. The bulk were less than four. Most of the service holds were comfortable— except for Osaka’s one dropped game in the first set. That was all the difference. “I have a lot of respect for Naomi as a person and as a player—15 months she’s been away,” Garcia said. “I’m very glad to see her back. Six months after giving birth, she’s playing quite amazing already.

hub 45 kilometers from downtown Riyadh, the Saudi capital. The LED wall is designed to open out on to views of the city below, the QIC said. The QIC is wholly owned by the Public Investment Fund, which is chaired by the crown prince who is widely known as MBS. It manages about $700 billion in Saudi sovereign wealth and includes investments in the LIV Golf project and English Premier League club Newcastle. The QIC said the new stadium is intended to become the home venue of Al-Nassr and Al-Hilal, the Riyadh clubs who last year signed Cristiano Ronaldo and Neymar, respectively. Saudi Arabia is the only bidder to host the men’s World Cup in 2034, with FIFA set to confirm its pick late this year in a confirmation vote by more than 200 national soccer federations. AP

For a better life THIRDY RAVENA skipped the Philippine Basketball Association (PBA) Draft in favor of a playing stint in Japan. Rhenz Abando left University of Santo Tomas (UST) for Letran in the National Collegiate Athletic Association men’s basketball competition. SJ Belangel chose to forego his last playing year with the Ateneo Blue Eagles to play in South Korea. Many more like them left for what is concededly the much perceived reason: For a better life. Ravena was widely believed to have inked a much juicier contract with his Japan team than the one dangled at him by a PBA team. So lucrative that Thirdy’s brother, Kiefer, was also lured

B8 | W

to bite the bait in no time and said goodbye to NLEX for a stint also in Japan. It was also the same case, obviously, for Abando, the high-flying forward whose playing style resembles that of the late, lamented Samboy “The Skywalker” Lim.

We have to watch out.” Osaka was one of three past Australian Open champions who returned to play at Melbourne Park for the first time as moms, joining 2016 winner Angelique Kerber and 2018 champion Caroline Wozniacki. The Australian Open started Sunday and will be played over 15 days for the first time, with the first round spread over three days in a bid to cut down on the late-finishing matches. Still, it was 1:39 a.m. local time by the time Felix Auger-Aliassime closed out a 4-hour, 59-minute win over 2020 US Open winner Dominic Thiem that finished 6-3, 7-5, 6-7 (5), 5-7, 6-3. That match was briefly held up in the fourth set by a bird landing on the court at Margaret Court Arena and having to be chased off by a ball kid to laughter from the crowd. It then flew around the stadium briefly before play could continue. For Auger-Aliassime, the win ended a run of first-round exits at three consecutive majors. Wimbledon champion Marketa Vondrousova didn’t make it past the first round, losing 6-1, 6-2 to Dayana Yastremska and struggling with a hip injury. A third 16-year-old reached the second round, with Mirra Andreeva beating 29-year-old Bernarda Pera 7-5, 6-2 to set up a second-round match with sixth-seeded Ons Jabeur, a threetime runner-up at Grand Slams. AP

KIM AURIN’S delivering the goods for the Tropang Giga.

TNT rookie rises to occasion

OOKIE Kim Aurin is making the most out of the playing time he’s earned at TNT. Finally earning a spot in the starting unit, the former University of Perpetual Help star lost no time to prove he’s up to the task after playing a key role in the Tropang Giga clinching the last quarterfinals berth in the Philippine Basketball Association (PBA) Commissioner’s Cup. Aurin finished with 18 points and hit key baskets that allowed the Tropang Giga to pull off a 116-96 win over Phoenix and avoid a playoff with NLEX for the eighth and final quarterfinals ticket. The conference-high of the rookie picked in the third round of the last draft which came at the most crucial time of TNT’s campaign earned for him the PBA Press Corps-Pilipinas Live Player of the Week for the period January 10 to 14.

Abando forsook UST as Letran reportedly offered him a contract he could not refuse. Same with Belangel, the Bacolod-born playmaker in Ateneo’s multiple title collection in the University Athletic Association of the Philippines. SJ’s mouth-watering contract to play in a Korean league included transporting his entire family (Dad, Mom and sister) to Seoul—all expense-free. I know. Modesty aside, I had personally brought Belangel to Ateneo after Chris Javelosa, the former De La Salle center, introduced the kid to me in 2016. The kid instantly passed the audition at Ateneo—with flying colors. Why am I saying all this? Well, because it happens all the time: To make a choice not of the ordinary type that it pricks the imagination. Like Jared Bahay and Jacob Cortez switching schools recently that raised eyebrows—again. Bahay left University of the Philippines for Ateneo and

The 26-year-old Aurin became the first rookie this season to be recognized with the weekly honor handed out by the group of men and women which cover the PBA beat. Aurin was drafted No. 34 overall by Barangay Ginebra, where he previously played for its 3x3 team, but failed to crack the Kings’ 5-on-5 lineup to become a free agent. TNT eventually picked him up and signed a six-month contract. “I think he deserves all the minutes he’s getting right now,” said TNT coach Jojo Lastimosa of Aurin. “Now we’re looking at a guy who’s probably going to play a little bit more. He deserves what he is getting right now.” Aurin was 6-of-12 from the floor including 3-of-5 from beyond the arc in the win over the Fuel Masters to emerge as the unanimous choice for the weekly award.

Cortez went to De La Salle from San Beda. Why? For a better life, dummy. Now, if there’s another reason, tell me. THAT’S IT Grayson Murray won the Sony Open on Monday in Hawaii after hitting the poorest tee shot in his dramatic playoff against Byeun An of Korea and compatriot Keegan Bradley. He was in the rough while An and Bradley were on the fairway in the par-five 18th. All three were on in three—with Murray farthest from the hole and An nearest. Bradley “baybied” his pitch to within 15 feet. Putting first, Murray buried his 25-footer for birdie. After Bradley missed, An flubbed his tying putt from just three feet and allowed Murray to win his second Tour title and an outright ticket to The Masters in April. Murray’s win recalls again the saying in golf: It’s not how you drive, but how you arrive.