BusinessMirror January 23, 2024

PHL investment gap in connectivity at ₧110B

By Cai U. Ordinario @caiordinario

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HANDS-ON APPROACH Agriculture Secretary Francisco Tiu Laurel Jr. (second from the right) actively participates in a visit to AquaVenture Farm, where he engages in feeding farm-raised pompano in floating cages situated in Salanguin Bay, Zambales. Accompanied by officials from the Bureau of Fisheries and Aquatic Resources, the agriculture chief conducts a comprehensive tour of the coastal area. JAY MORALES/DA-OSEC

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HE country’s low investment in internet connectivity has led to expensive broadband services, slow speeds, and the Philippines accounting for half of the Asean’s population that do not have mobile broadband services, according to the World Bank.

In a Policy Note, the World Bank said Manila has invested less than 1 percent of GDP in telecom infrastructure annually.

The Washington-based lender estimated that the country’s investment declined to 0.44 percent of GDP in 2022 from 0.64 percent in 2018.

As a result, the cost of broadband connections is 11 percent of the country’s Gross National Income (GNI) per capita or more than four times the cost in other Asean countries. Mobile broadband cost was estimated at 2 percent of GNI per capita or 1.5 times higher than other countries in the region.

“The cost of inaction—loss of growth opportunity, people remaining unequipped for future jobs, and widening of the digital divide—is too high for the Philippines. Outdated policy and regulations have long stunted the growth of the country’s broadband industry and expansion of digital infrastructure,” the report stated.

“For inclusive growth through digitalization that benefits all Filipinos, updating Philippine policy to promote competition, encourage investment, and upgrade broadband infrastructure is urgent and necessary,” it added.

P110-B investment gap

THE World Bank estimated that the investment gap in the Philippines is around $2 billion or P110 billion per year in broadband investments. The government’s direct investments and fiscal measures would not be enough to cover the gap.

The report noted that the P5billion budget of the Department of Information and Communica-

tions and Technology (DICT) this year was still not enough to address the gaps.

These gaps could be addressed by maximizing spectrum user fees (SUFs). The World Bank said spectrum holders must pay an annual SUF based on per frequency and base station.

The World Bank said the National Telecommunications Commission (NTC) SUF collection almost tripled in 5 years to over P6.7 billion in 2022 from P2.4 billion in 2017, reflecting the growth of the industry.

“However, the significance of spectrum revenue, measured as a percentage of total government revenue, has been miniscule:

BusinessMirror

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DOF: PIFITA SPELLS P126B w

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Tuesday, January 23, 2024 Vol. 19 No. 100

P25.00 nationwide | 2 sections 22 pages |

IN GOVT REVENUE LOSS S

By Jasper Emmanuel Y. Arcalas @jearcalas

IMPLIFYING and harmonizing the country’s tax structure on passive income and financial intermediary would cost the national government to lose P21 billion annually or a total of nearly P126 billion in six years, a finance official said.

In his presentation before senators, Finance Assistant Secretary Karlo Fermin S. Adriano discussed the proposed Passive Income and Financial Intermediary Taxation Act (PIFITA), including the projected revenue losses that the national government would experience.

Based on the Department of Finance’s (DOF) calculations, the state would lose a total of P125.9 billion in revenues from the third quarter of this year until 2029 because of PIFITA, Adriano explained. The amount translates to an annual average revenue loss of about P21 billion, Adriano added.

The estimated state revenue losses stem from the lowering of various tax rates across the capital markets and the financial sector of the country as proposed by PIFITA. See “DOF,” A2

HISTORIC MOMENT Senator Francis Tolentino raises the hand of Senator Pia Cayetano, the newly elected Chairman of the Blue Ribbon Committee, as Tolentino steps down. Cayetano makes history as the first woman elected during the resumption of the Senate Session. Senators Christopher Lawrence Go (left) and Sen. JV Ejercito join them in the moment. ROY DOMINGO

SRA: GOVT TO BUY 1.8M SUGAR BAGS UNDER P5-B PROGRAM

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HE national government is looking at buying as much as 1.8 million bags of raw sugar through its upcoming P5-billion procurement program to provide sugarcane planters with higher prices and influence retail prices of the commodity.

Sugar Regulatory Administration (SRA) Chief and CEO Pablo Luis S. Azcona said the P5-billion procurement program of the state has been approved in principle with the full support of Agriculture Secretary Francisco P. Tiu Laurel Jr.

Azcona disclosed that the procurement program is progressing well, with key government officials and representatives from nearly all the sugar industry’s groups and federations meeting last week to discuss the measure.

At that meeting, Azcona explained that the Department of Agriculture (DA) through the SRA will be coming up with the guidelines and mechanisms of the procurement program based on recommendations from sugar industry stakeholders.

See “SRA,” A2

Agencies told to speed up enercon measures rollout

By Samuel P. Medenilla @sam_medenilla

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MID the looming additional burden of the El Niño to the country’s power supply, President Ferdinand R. Marcos Jr. has ordered national government agencies (NGA) to accelerate the rollout of their power-saving measures.

In his Administrative Order (AO) No. 15, the chief executive directed the NGAs including governmentowned or -controlled corporations (GOCC), “to ensure efficient and judicious use of energy” through their respective Government Energy Management Program (GEMP) to reduce their power demands.

“There is a need to intensify ef-

ficient utilization and conservation efforts of electricity and fuel to mitigate power demand amidst El Niño phenomenon,” Marcos said in the three-page AO, issued through Executive Secretary Lucas P. Bersamin on January 16, 2024.

Under the new issuance, NGAs must conduct energy spot checks with a certified energy auditor, as well as submit an inventory of existing energy-consuming equipment and the timelines to upgrade them to energy efficient equivalents.

They must also show compliance with the Department of Energy’s (DOE) Energy Conserving Design of Buildings as well as the Philippine Green Building Code.

See “Agencies,” A2

PESO EXCHANGE RATES n US 55.8740 n JAPAN 0.3768 n UK 70.9823 n HK 7.1473 n CHINA 7.7676 n SINGAPORE 41.6659 n AUSTRALIA 36.7986 n EU 60.8691 n KOREA 0.0419 n SAUDI ARABIA 14.8981 Source: BSP (January 22, 2024)

News

BusinessMirror

A2 Tuesday, January 23, 2024

www.businessmirror.com.ph

Key US diplomat due here, to check out critical mining A

By Malou Talosig-Bartolome

tries—with untapped amounts of metallic and non-metallic mineral deposits that are “critical” to green energy transition.

“In the Philippines, Undersecretary Fernandez will discuss enhancing the Philippines’ economic resilience through supply chain diversification, while emphasizing our commitment to deepening the strong US-Philippines economic partnership and highlighting US investment opportunities in the critical minerals sector,” the US State Department said in a statement.

In May 2023, US President Joseph Biden and Philippine President Ferdinand Marcos Jr. announced the US investment worth US$5 million (P280 million) to support the Philippines in increasing production of processed minerals and expanding downstream min-

eral industries such as production of electric vehicle components and information and communications technologies equipment.

The US is also keen on “improving governance standards in the mining industry” in the Philippines.

In November, the US Agency for International Development (USAID) partnered with the University of the Philippines Public Administration Foundation (UPPAF), the US and the US Commercial Service, and four other Philippine government agencies to provide technical assistance programs to develop the Philippines’ critical minerals sector.

The four Philippine agencies involved are Department of Environment and Natural Resources (DENR), Anti-Red Tape Authority (ARTA), Department of Finance, Department of the Interior and Local Government, Department of Trade and Industry, The P280-million ($5 million) project supports the Philippine government’s goal to become a major global value chain player in the clean energy sector by maximizing the country’s mineral potential and increasing value addition through minerals processing. It includes technical support for streamlin-

ing permitting processes, advancing policy reforms, improving minimum governance standards, and helping facilitate investments in minerals processing and other downstream industries.

In Vietnam, the US diplomat will focus on increasing trade opportunities, clean energy promotion, semiconductor and supply chain cooperation and advancing economic cooperation. Vietnam and the US are upgrading their relationship to a Comprehensive Strategic Partnership.

In his last leg in South Korea, Fernandez will co-chair the 8th US-ROK Senior Economic Dialogue. The US is also interested in investing in Korea in areas of crucial minerals, semiconductors and energy security.

“During his meetings with government, business, and civil society leaders in all three countries, Under Secretary Fernandez will promote public-private partnerships, advance investment opportunities, and emphasize the importance of close cooperation in areas common concern, including strengthening economic, energy, health, climate, and food security,” the US State said in a statement.

Under the initial proposal, the Philippine International Trading Corp. (PITC) would be the one responsible for buying, storing and

even selling the stocks of raw sugar.

“SRA will be the one talking to the farmers and coming up with summarizing and incorporating ev-

erybody’s suggestions and recommendations,” Azcona told reporters on Monday.

“So, we will pass all our recommendations to the DA. And so far, the discussed agency to implement it will be PITC,” Azcona added.

The plan to implement a buyand-sell scheme in the sugar industry was disclosed by Laurel last month. (Related story: https://businessmirror. com.ph/2023/12/11/da-keenon-sche me-that-w il l-boostfarmgate-prices-of-sugar/)

@maloutalosig

SENIOR American diplomat is flying to Manila next week to explore investment opportunities in the Philippines including extraction of critical minerals.

US State Undersecretary for Economic Growth, Energy and Environment Jose W. Fernandez is on a three-country East Asian swing to strengthen economic cooperation with “key allies and partners in the Indo-Pacific region,” the US State Department said.

“Excited to travel to Vietnam, the Philippines, and the Republic of Korea to strengthen economic cooperation in the #IndoPacific region and to discuss global challenges, from fighting climate change to strengthening our supply chains. Stay tuned!”

Fernandez said in his X post.

Fernandez’s visit to the Philippines will focus on helping the Philippines diversify its supply chain as well as look for investment opportunities in the critical minerals sector.

The Philippines is one of the world’s most mineralized coun-

SRA...

Continued from A1

Initial price intervention

AZCONA disclosed that the initial buying price per 50-kilogram bag being discussed by the government and industry stakeholders is around P2,700 to P2,800.

At that price range, Azcona estimated that the PITC can purchase about 1.75 million to 1.8 million bags of raw sugar, equivalent to 87,500 metric tons to 90,000 metric tons.

Azcona said the sugar that PITC will buy would form part of the country’s buffer stock, while some of the supplies can be sold at the retail level through various means including the Kadiwa program.

“When we say direct to retail, of course, it includes all government programs. So, Kadiwa and all other means that we can release the sugar to as many Filipinos as we can,” he said.

“Our effort is really to provide the Filipinos with a better retail price, our consumers. We are protecting our consumers which also includes our sugar farmers,” he added.

The SRA chief said the P5-billion procurement budget would be able to purchase about 10 to 15 percent of the country’s remaining raw sugar production.

Azcona added that they plan to finish ironing out the guidelines and mechanism of the procurement program before the month ends. Jasper Emmanuel Y. Arcalas

DOF...

Continued from A1

PIFITA seeks to redesign the financial sector by making taxation of the industry “simpler, fairer and more efficient” and “regionally more competitive,” Adriano said. “[PIFITA] would make general tax compliance easier and taxation equitable to ensure progressivity to boost our tax effort and increase tax trust,” he said.

PIFITA aims to slash the number of combinations of tax rates and bases from 83 to 56. This, Adriano emphasized, would harmonize and lower the tax rates, making the tax system more equitable than before.

Adriano pointed out that in the Asean region, the Philippines has the highest passive income tax rates on interest income as well as royalties.

PIFITA aims to “harmonize” and lower tax rates on interest income from 20 percent to 15 percent by 2028 through gradual reductions starting this year.

The gradual reductions are aimed at “softening” the blow of revenue losses to the national government, Adriano said.

Likewise, PIFITA seeks to slash the tax on royalties from 20 percent to 15 percent while it plans to increase tax rate on dividend income from 10 percent to 15 percent.

With these, the tax rate on all passive income would be at a uniform 15 percent.

The DOF estimates that the national government would lose P143.4 billion from the third quarter until 2029 with the proposed tax adjustments on passive income.

Capital markets

MEANWHILE, PIFITA seeks to simplify the taxes in the capital markets by imposing a stock transaction tax that would start at 0.5 percent this year and eventually go down to 0.1 percent by 2028, replacing the current regime of 15 percent capital tax gain. T his measure, Adr iano pointed out, would allow companies to expand their sources of capital and liquidity.

Under the proposed law, all financial institutions would be slapped with a gross receipts tax at a uniform 5 percent rate in lieu of the current mechanism of varying rates of 1 percent to 7 percent depending on the nature of the financial institution.

“To simplify the business tax for banks and quasi banks a harmonized flat rate of 5 percent on gross receipts will be levied on lending income and other income,” Adriano said.

The PIFITA would also simplify the tax system in the insurance industry by implementing a uniform 2-percent premium tax across life insurance, health insurance, preneed and healthcare maintenance organization (HMO) industries.

Adriano explained that the imposition of a premium tax is more appropriate in these industries as their products are “more of an investment than consumption.”

PIFITA also pushes reforms in the documentary stamp tax (DST) system by slashing the DST on original shares of stock to 0.75 percent from 1 percent.

Adriano’s presentation showed that the state stands to gain P49.4 billion in revenues until 2029 from the tax reform on financial intermediaries but it will lose some P80.3 billion due to adjustments in taxes on transactions like DST.

Agencies...

Continued from A1

Government offices must also implement energy efficiency conservation (EEC) measures such as maintaining the ambient temperature of 24 Celsius in air conditioned spaces; turning off unused lights and air-conditioning units; and activating sleep settings on office equipment.

The EEC should also contain

target savings and motor vehicles inventory.

To institutionalize the EEC initiatives, each NGA will designate an EEC officer and focal person and adopt the DOEGEMP Online System for monitoring and reporting of energy consumption.

The President encouraged local

Furthermore, Adriano disclosed that the DOF is now pushing for the removal of the exemption on pick-up trucks from excise tax, a privilege extended by the TRAIN law. Lifting the exemption would generate a total of P42.6 billion in revenues for the national government until 2029.

Adriano explained that removing the excise tax exemption on pick-up tricks would eradicate the “inequity” and “counter the adverse impact of such exemption in the automobile industry.” The move would also support the state’s carbon reduction goals in line with its commitments to the Paris agreement, he added.

The state would also post a net gain of P5.8 billion until 2029 due to prospectivity, which involves the application of the tax changes on new transactions or contracts.

“The [annual average revenue losses of] P21 billion did not include any assumptions on behavioral changes. These are just based on reducing rates. We are still in the process of inputting the changes in behavior in our computations,” Adriano explained.

Gatchalian’s take

SEN. Sherwin T. Gatchalian, who chairs the Senate Committee on Ways and Means, recognized the benefits of the PIFITA but cautioned regarding the projected revenue losses that the state would suffer in exchange.

Gatchalian argued that PIFITA would simplify the tax structure of the country which is helpful in enticing more investors in the country.

“We are very happy there is this effort to simplify everything. However, I am quite concerned with the revenue impact. Like I said the context here is we are just getting out of the pandemic,” he said.

“We may not feel the health effects of the pandemic but we can feel the fiscal effects of the pandemic because our debt is very high.

[There are no longer sick people but we are still paying for the debts] contracted during Covid time. Tax proposals more or less are a timing issue. I am looking at whether this is a good time to reduce revenues or not,” he added.

Nonetheless, Gatchalian pointed out that the harmonization and reduction in tax rates that PIFITA is pushing for would translate “in change of behavior and growth in sectors.”

National Tax Research Center Executive Director Marlene A. Lucero-Calubag argued that PIFITA is “ripe for passage” as it would help the government achieve its “much needed” tax reforms in the capital market and financial sector.

Lucero-Calubag explained that PIFITA was not designed to generate revenues for the state but to “fix the tax system” by simplifying the taxation on passive income, financial intermediaries and financial transactions.

“To achieve this objective there is a need to reduce and repeal certain taxes in order to directly benefit the majority or target the poor but in the long term would create additional revenue streams for the government,” she said.

Lucero-Calubag argued that PIFITA would create a “better” financial structure that would pave the way for “more efficient and diversified financial system that supports economic development.” government units (LGU) to implement similar measures.

He tasked DOE to coordinate with the Presidential Communications Office (PCO) in promoting EEC measures to all government offices and the public.

Last month, some lawmakers expressed concern over the impact of the droughts caused by El Niño on the water levels in powergenerating dams, which can lead to disruptions in electricity supplies in Luzon.

Tuesday, January 23, 2024

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

Yamsuan urges BJMP to prioritize reintegration program for PDLs

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LAWMAKER on Monday called on the Bureau of Jail Management and Penology (BJMP) to prioritize the implementation of reintegration programs for persons deprived of liberty (PDL) in the coming year following a modest P1.5 billion increase in the BJMP’s 2024 budget.

Bicol Saro Party-list Rep. Brian Raymund Yamsuan said reinforcing the BJMP’s reintegration efforts would contribute to alleviating overcrowding in district, city, and municipal jails under the agency’s jurisdiction.

He said this strategic focus aims to provide PDLs with opportunities to reintegrate into society as productive individuals after their period of detention.

The approved BJMP budget for 2024 stands at P23.87 billion, marking a nearly 7 percent increase of P1.54 billion compared to the previous year’s P22.33 billion.

Yamsuan, a former assistant

secretary of the Department of the Interior and Local Government (DILG), highlighted that approximately 85 percent of the BJMP’s budget is traditionally allocated for the custody, safekeeping, and rehabilitation of PDLs. For the year 2024, the allocation specifically designated for this purpose amounts to P20.26 billion, reflecting an increase of P1.28 billion from the previous year’s P18.98 billion.

“We urge the BJMP to utilize a significant portion of this P20.26 billion allocation for programs focusing on the reintegration of PDLs into the mainstream of society. Providing targeted, appropriate interventions to PDLs, while they are in the custody of the BJMP will help prevent them from becoming recidivists or repeat offenders,” Yamsuan said.

“In turn, lowering the rate of recidivism will help ease overcrowding in BJMP jails,” he added.

Jovee Marie N. Dela Cruz

Dubai-bound policemen told to perform well in SWAT tilt

P

ER FOR M to the best of your abi lities. T his was stressed by Department of the Interior and Local Government (DILG) Secretary Benjamin “Benhur” Abalos to the 84th Special Action Company-Rapid Deployment Battalion who will be representing the country in the 2024 UAE SWAT Dubai Police Challenge.

He also reminded the contingent to “always reach for the pinnacle of excellence” and learn from the best in the world. “ T his team w ill sy mbolize our countr y. You are the best of the best,” Abalos said during his visit at the Special Action Force (SAF) headquarters in Camp Bagong Diwa, Bicutan last Friday, Januar y 19.

T he UA E SWAT Challenge, hosted by the Dubai Police, is an annual competition organized to foster an exchange of tactical techniques and skills among international SWAT teams.

The event highlights mental sharpness and physical endurance

A3

Police nab four suspects in foiled kidnap try of Chinese businesswoman in Pasay

By Rex Anthony Naval

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OLICE officers on patrol foiled a possible kidnapping of a 35-yearold Chinese businesswoman and arrested the four kidnappers in Pasay City Monday morning.

The alert police officers are from the Pasay City Police Station 1, reports said.

The incident took place at around 7:30 a.m. along Roxas Boulevard, Pasay City.

Investigations indicated that these Pasay police officers were patrolling in the vicinity when they chanced upon a commotion where four suspects were seen trying to force the victim, identified only

as “Dana” out of her white BMW sedan and into their black Toyota Land Cruiser Prado.

Witnesses a 39-year-old businessman “Cong” and parking boy identified only as “Jayver” played a crucial role in aiding the law enforcers.

Recovered from the suspects possession were a “paltik” type revolver, five .38 caliber rounds, three open small sachet containing traces of white crystalline substance suspected to be shabu, one foil strip, two knives with scabbard, three hand-held radios, duct tape, and a hammer covered with a sock.

The suspects will be facing

complaints for attempted kidnapping, violation of Republic Act 10591 (Illegal Possession of Firearms), Republic Act 9165 (Comprehensive Dangerous Drugs Act), and BP 6 (Illegal Possession of Bladed, Pointed or Blunt Weapon).

Southern Police District commander Brig. Gen. Mark D. Pespes commended the vigilant Pasay police officers for a job well done along with the witnesses.

He added that these efforts are crucial to the safety and security of the public.

Fol low-up invest igat ion is ongoing, with efforts underway to identif y and apprehend the remaining suspects.

No destabilization plot: Retired generals reaffirm support for PBBM and Congress

By Jovee Marie N. Dela Cruz @joveemarie

of participants.

The 13-man delegation will participate in the said competition from February 3 to 7, where they will also test their mettle against 81 other SWAT teams representing 70 countries through a gauntlet of tactical and operational challenges.

As a token of support, Abalos pledged P50,000 for each member of the SAF delegation.

This, as Abalos hopes that the competition will not only be centered on winning but also for the improvement of the local police officers’ prowess in ensuring peace and order in our communities.

“Life is a continuous learning process. A good way of learning is being exposed to international competitions,” he said.

“In this competition, take note of the advancements made by other countries. This will not only help bolster ours, but will also be instrumental in saving lives in the future,” Abalos added.

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OUR major groups of retired military generals on Monday reaffirmed their unwavering support for the administration of President Ferdinand R. Marcos Jr., and Congress.

Facilitated by key organizations, namely, the Philippine Military Academy Alumni Association Inc. (PMAAAI), the Association of Generals and Flag Officers (AGFO), the Philippine Military Academy Retired Alumni Association (PMARAA), and the National ROTC Alumni Association, Inc. (NARAAI), the meeting with Speaker Ferdinand Martin G. Romualdez took place at the House of Representatives and drew the attendance of 22 retired generals.

The retired militar y leaders addressed Romualdez, debunking allegations circulating on

Rex Anthony Naval

social media that suggest PM A alumni and other groups of AFP retirees are involved in destabilization efforts against the current administration.

“We are all here today, united, to air our support for President Ferdinand Marcos Jr., his administration, and the leadership of the House of Representatives and the Senate,” said Admiral Danilo Abinoja, chairman and CEO of PMAAAI. “We continue to abide by and vow to defend the Constitution and the duly constituted authorities. That is our oath, then and until now,” he stressed.

Abinoja assured Romualdez that their allegiance to the Constitution and duly constituted authorities remains steadfast, underscoring the commitment they made during their years of service.

“In fact, the Association of Service Academies of the Philippines is issuing a manifesto of support for

President Marcos and his administration,” the retired admiral disclosed.

Maj. Gen. Marlou Salazar, vice president of NARAAI, echoed the sentiment against destabilization attempts, emphasizing the group’s belief in government stability as a cornerstone for peace and progress.

Gen. Raul Gonzales, chairman of PMARAA, rejected moves that seemed to undermine government stability and emphasized their commitment to defending the Constitution even after leaving active service.

“We support the sentiments of the PMA alumni here today, and we are duty-bound to defend the Constitution even now that we are out of service.

Some have different beliefs, but the general membership is united in defending this government,” Gonzales said.

Gen. Gerr y Doria, vice chairman of AGFO, affirmed their group’s

unwavering support for President Marcos and his administration, presenting Speaker Romualdez with a resolution issued by PM A Class ‘75 condemning acts that undermine the nation’s economic, social, and political gains.

Gonzales even presented the Speaker with a copy of the resolution issued by PMA Class ‘75, of which he is the president, condemning “abhorring acts that undermine the economic, social, and political gains that the current administration has put up over the years.”

Romualdez, for his part, thanked the retired generals for coming to his office and spending some time to share their sentiments with him and other House leaders.

“Now that you are civilians, you have the whole perspective from outside, given the years of service that you have given to the nation. We value all that you share here today,” he added.

NSC exec to China: Comply with Closure of ‘polluting’ firms in Pampanga town pushed agreement to ease WPS tension

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RANKING National Security Council (NSC) official on Monday said China should do its best to implement agreements made with the Philippines regarding efforts to ease tensions in the West Philippine Sea (WPS).

NSC Assistant Director General Jonathan Malaya, during Monday’s “Bagong Pilipinas Ngayon” briefing made this appeal after the China Coast Guard (CCG) reportedly harassed again Filipino fishermen going about their peaceful business in the waterway last January 12.

“I hope that they will match with their actions on the ground the agreement made between the Philippine and Chinese governments. And moving forward, I hope that this will be implemented as it is not in the interest of the Philippines and China to heighten tensions this 2024,” he said in a mixture of Filipino and English.

Last week, the Department of Foreign Affairs said the Philippines and China have both agreed to “calmly deal” with incidents in the South China Sea by tweaking their maritime communication mechanisms.

Both sides also assured each other of their mutual commitment to avoid escalation and tension.

In the Januar y 12 incident, CCG personnel aboard a rubber boat reportedly accosted and forced Filipino fishermen from the F/B Legendary Jo to throw away the seashells they have collected from the south entrance of Bajo De Masinloc back into the water.

In the same briefing, Malaya condemned the action of the CCG for its latest provocative action against Filipino fisherfolk.

“We condemn this latest provocative action on the part of the CCG against our fishermen,” he added. Rex Anthony Naval

J

ESUS LIM ARRANZA, president of the Federation of Philippine Industries Inc., is calling for an ocular inspection of two allegedly illegal lead smelting operations on the river that traverses San Simon, Pampanga.

At a meeting with members of the Capampangan in Media Inc. (CAMI), Arranza played a videoconference he had with barangay chairman Raul Mangay, whose constituents had been complaining about the discharge of toxic materials into the river.

As a result, the barangay chieftain said fish kills have become a common occurrence down the river. Additionally, foul smell also allegedly emanate from the warehouses he believed to have been hiding the operation.

The warehouses are part of an industrial park that operate under the Philippine Economic Zone Authority. Arranza, who is also an environmentalist, said he had brought the matter to the attention of President Ferdinand R. Marcos Jr. in August last year.

However, residents continue to suffer from air and water pollution despite the President’s order to investigate and, if merited, shut down the erring companies.

Arranza revealed recycling of used lead acid batteries is big business.

Companies extract the lead from discarded car and truck batteries and turn them into bullion for sale to manufacturers here and abroad.

He said recycling is a laudable operation, but the necessary safeguards must be put in place

City council reso nixes mining op in NegOcc

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EMBERS of the Sagay Young Tourism Volunteers (SYTV) based in Sagay City lauded the Sangguniang Panlungsod for passing a resolution denying the entry of Tambuli Mining Company Inc. (TMCI) in the city.

The Sangguniang Panlungsod resolution, via unanimous vote, rejected the request of TMCI to endorse its copper-mining project in Barangay Lopez Jaena where it intends to do surface mining in approximately 60 hectares of agricultural land.

In deny ing t he request of TMCI, t he Sang g uniang Panlunsod cited in its resolution passed on Januar y 10, 2024, the adverse env ironmental impact of mining to t he env ironment, par ticu larly t he process of surface mining that involves

shav ing of forest and d ig g ing soi l, and producing wastes in t he for m of ta i lings.

It said mining could also result in biodiversity loss, as it destroys habitat, and causes air pollution that would endanger the lives of the communities.

first, especially when it involves the handling of toxic materials like lead.

“Lead is dangerous,” Arranza pointed out. “Traces of the substance, if ingested, say, from contaminated fish or inhaled from polluted air, could affect the physical and mental development of children.”

He added that the chemicals used to extract and purify lead also poses danger to people if released into the environment without treatment. They could leach into underground water table, contaminate canals and rivers, and likewise pollute the air.

Car and truck batteries also contain acids, which are equally dangerous. That is why companies involved in this kind of business

must first secure an environmental clearance certificate from the Department of Environment and Natural Resources first, in addition to a permit from the local government. From all indications, however, these companies reportedly do not have both, thus raising the possibility they may pose danger to the community.

“Unfortunately, the problem is not confined to San Simon,” Arranza said. “Illegal recycling firms are all over the country.”

Apart from the effect on the environment, these polluters threaten the government’s recycling program. Legitimate companies will be forced to shut down. They just can’t compete with firms that do not bother to invest in safe recycling technology.

“Whereas, copper mining not only pollutes the land, marine, and water ecosystems, but it also releases toxic chemicals that pollute the air, which in turn could be a cause of respiratory disease among the constituents of Sagay City,” the resolution said in part.

T he resolution added that should surface or open pit mining be allowed to proceed in Sagay

City, its harmful effects will undo decades of sustainable practices that the city has been practicing and is known for.

Because of this, the Sangguniang Panglungsod said the assumed potential project benefits cannot outweigh the devastating and harmful effects that surface or open pit mining will cause to the environment and the people.

Jonathan L. Mayuga

Economy

Tuesday, January 23, 2024

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PSAC files plan to transform PHL into ‘a top-tier tourist destination’

By Manuel T. Cayon @awimailbox

D

AVAO CITY—From the numerous hotels and airports to 30-day visa-free entry and international sports-hosting.

The Private Sector Advisor y Council-Tourism Sector (PSACTourism) proposed “new ideas” to enhance the attraction of the Philippines to global travelers.

Sabin Aboitiz, PSAC lead convener and the president and CEO of the Aboitiz Group, presented to President Ferdinand R. Marcos Jr. “the need for strategic initiatives to make the Philippines a top-tier tourist destination.”

Aboitiz and the country’s leading business leaders from various industries said the PSAC has presented “transformative recommendations to revolutionize Philippine

tourism, ref lecting a collective commitment to elevate the country’s standing in the global tourism landscape.”

“The council emphasized the importance of attracting tourists and ensuring they have a compelling reason to stay, spend money, and return,” PSAC statement read.

Inspired by success stories from India, China, Singapore, and Thailand, PSAC-Tourism proposed a comprehensive campaign to showcase the rich tapestry of native cuisines and advocated for hosting major sporting events to create an immersive and engaging experience for visitors.

“O u r recom mend at ion s a re rooted in a collaborative effort to position the Philippines as a premier global tourism destination.

By showcasing our unique culture, cuisines, and natural beauty, we believe we can create a holistic and

unforgettable experience for tourists,” Aboitiz said.

PSAC-Tourism recommended a temporary 30-day visa-free entry for tourists while streamlining the electronic-visa process. The council also suggested exploring third-party service providers to enhance the efficiency of the e-Visa system.

PSAC-Tourism proposed accelerating public-private partnership (PPP) projects for regional airports to drive international demand.

“This initiative aims to increase international airport connectivity and capacity for a broader range of international airlines and routes,” the group added.

The group said it would also augur well for tourism if government could be able to offer “enhanced incentives” to increase the hotel supply to compete with neighboring countries. It did not give details

into this specific incentive offer to those who want to construct new accommodation units.

The PSAC-Tourism also said that it would be important to have a value added tax (VAT) refund scheme for tourists to attract more tourist arrivals and increase tourism receipts.

The PSAC’s meeting with President Marcos last Thursday was its first meeting this year and it focused on the tourism sector. With Aboitiz were PSAC-Tourism members, Lance Gokongwei of JG Summit Holdings Inc., Lucio Tan III of the LT Group, Rene Limcaoco of Hertz Philippines and Lourdes Josephine Gotianun-Yap of Filinvest Development Corp.

T h e P S AC w a s e s t a b l i s h e d “strategically by President Marcos to create and strengthen innovative new sy nergies between the private and public sectors,” the group said.

The PSAC is comprised of business leaders and experts across six main sectoral groups—agriculture, digital infrastructure, jobs, health care, Build, Build, Build, and tourism.

Oil firms hike gas, diesel pump prices for third consecutive week in 2024

By Lorenz S. Marasigan @lorenzmarasigan

F

ILIPINO motorists are bracing for another surge in fuel costs, marking the third consecutive week of hikes in petroleum prices in 2024.

Oil companies Pilipinas Shell Petroleum Corp., S eaoil Philippine Corp., PT T Philippines Corp., and Petro Gazz have

announced significant increases in the prices of gasoline and diesel, effective Tuesday.

Gasoline prices will rise by P1.30 per liter and diesel by P0.95 per liter. However, in a slight respite for consumers, the price of kerosene will remain unchanged.

Cleanfuel is set to follow suit with identical price adjustments.

The changes will come into effect at 6

a.m. on Tuesday for most companies, except for Cleanfuel, which plans to implement the hike at 4:01 p.m. on the same day.

This recent price surge aligns with the Department of Energy’s (DOE) forecasts.

Factors influencing this trend include heightened tensions in the Middle East and robust demand growth predictions by the Organization of Petroleum Exporting Countries for the coming two years.

Go Negosyo plans to hold 50 mentorship events to double trained MSMEs on putting up business

By Roderick L. Abad Contributor

G

O Negosyo bared its plan to conduct at least 50 of its free entrepreneurship mentoring event called 3M on Wheels in 2024 on the back of bullish prospects ahead of the country.

During their opening salvo of such activity this year last January 20 at TriNoma Mall in Quezon City, Go Negosyo Founder Joey Concepcion said that experts and economists expect the Philippine economy’s continued progress in the next 12 months amid global economic challenges.

He also mentioned the affirmation of

the country’s delegation to the 2024 World Economic Forum that the Philippines is the best place in the region for foreign investments.

“I am glad that Speaker [Martin] Romualdez reiterated the President’s message, that the Philippines is ready, and that we are a bright spot amid the global recession,” noted the entrepreneurial czar.

Concepcion believes that 2024 will be a good year for the country’s micro, small and medium enterprises (MSMEs), which comprise 99.5 percent of all the registered business establishments nationwide, as 63 percent contributed significantly to the country’s workforce.

DILG, water concessionaires meet to tackle possible El Niño water supply interruptions

A

S part of its ongoing efforts to mitigate the possible effects of the El Niño phenomenon, the Department of the Interior and Local Government (DILG) over the weekend convened water concessionaires, and representatives from Liga ng mga Barangay (LNB) in Metro Manila, to discuss strategies on how to prevent possible water shortage and supply interruptions.

“Water is vital to everyone so we must ensure its continuous supply during the El Niño. We at the DILG are exerting all efforts to ensure that all sectors are on board and are cooperating,” DILG Secretary Benjamin “Benhur” Abalos Jr. said.

He added continued coordination with

everyone involved on the issue of water supply during the onslaught of El Niño is one their priorities this year.

Representing the DILG in the meeting were Undersecretaries Odilon L. Pasaraba and Felicito A. Valmocina together with DILG-National Capital Region Assistant Regional Director Ana Lyn R. Baltazar-Cortez.

They were joined by LNB presidents in the National Capital Region; and punong barangays from Makati, Pasay, Parañaque, Manila, and Caloocan.

Also in attendance were representatives from Maynilad, Manila Water, Metropolitan Waterworks and Sewerage System, and the Philippine Atmospheric, Geophysical and

With its 3M on Wheels coaching program, he disclosed without citing the exact figures that Go Negosyo seeks to double the number of MSMEs they can help start and grow their businesses this year.

“For the Philippines to rise above poverty, we really have to scale up our MSMEs,” the founder said.

For their first event over the weekend, Quezon City Mayor Joy Belmonte welcomed MSMEs from her locality and nearby cities who flocked to the TriNoma Mall’s Activity Center to receive free entrepreneurship coaching from veteran mentors and top business executives, as well as explore available marketing options and financing services from the different Astronomical Services.

On the issue of prevention of system and commercial losses among water concessionaires, Pasaraba said that a unified ordinance related to barangay clearances to water concessionaires must be implemented following alleged delays in approval of clearances.

Maynilad representative Jonna Reyes said that in the previous year, one of their challenges was the delay on the issuance of barangay clearances to implement pipe replacement and active leakage program.

Meanwhile, Valmocina underscored the critical importance of addressing the concerns of the water concessionaires.

He noted that communication, coordination, cooperation, and commitment must be exercised for them to implement all programs and projects designed to stave off the effects of El Niño. Rex Anthony Naval

The previous week witnessed gasoline prices increasing by P0.30 per liter, diesel

by P0.90 per liter, and kerosene also by P0.90 per liter.

As of January 16, 2024, the cumulative adjustments for the year indicate a net increase of P0.30 per liter for gasoline and P0.65 per liter for diesel. Kerosene, on the other hand, shows a net decrease of P0.40 per liter. participating companies.

Entrepreneur and content creator Isabel Magalona Go, who founded her business But First Coffee during the pandemic, talked about how small entrepreneurs can use readily available social media tools to promote and market their products and services.

“The free entrepreneurship mentoring event this Saturday demonstrates how our efforts for MSMEs will intensify this year, especially considering the bright prospects for our country’s economy,” Concepcion stressed.

3M On Wheels promotes the three M’s for successful entrepreneurship, namely Mentorship, Money, and Market—all form the foundation of Go Negosyo’s mission to push entrepreneurship among Filipinos.

This initiative is held in cooperation with local government units, state agencies including the Department of Trade and Industry, business organizations, and private sector sponsors who support the program’s advocacy.

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

Critical thinking and the analysis of complex issues 5. The basis of science and democracy

TO have a democracy and to prove scientific facts, we need critical thinking. Theories must be backed up with knowledge. For a society to effectively function, its citizens need to establish opinions about what’s right and wrong (by using critical thinking!).

6. Key for career success

CRITICAL thinking is crucial for many career paths. Not just for scientists, but doctors, reporters, engineers, accountants and analysts (among many others). All must use critical thinking in their positions.

By Henry J. Schumacher

I

WAS delighted to read that the World Economic Forum recently highlighted again critical thinking and the ability to analyze complex situations as the top skills this year to master informed decisions and successful problem solving.

As I have said in previous columns, without critical thinking we cannot thoughtfully process information and make reasoned decisions. We lose the ability to thoroughly analyze issues, understand different perspectives, spot logical fallacies, and weigh evidence. Critical thinking is the very foundations of a healthy democracy and an educated populace. It is also essential that young people are directed to critical thinking.

Here are a few undeniable reasons why it’s crucial to have these skills:

1. Critical thinking is universal

CRITICAL thinking is a domain-general thinking skill. What does this mean? It means that no matter what path or profession you pursue, these skills will always be relevant and will always be beneficial to your success. They are not specific to any field.

2. Crucial for the economy

OUR future depends on technology, information, and innovation. Critical thinking is needed for our hopefully fast-growing economy, to solve problems as quickly and as effectively as possible.

3. Improves language and presentation skills

TO best express ourselves, we need to know how to think clearly and systematically! Critical thinking also means knowing how to break down texts, and in turn, improve our ability to comprehend. Digital technology literacy is obviously part of this process.

4. Promotes creativity

BY practicing critical thinking, we are allowing ourselves not only to solve problems but also to come up with new and creative ideas to do so. Critical thinking allows us to analyze these ideas and adjust them accordingly.

Malasakit Centers continue to deliver aid to patients

S

E N ATO R Christopher “Bong” Go championed the ongoing support provided by the Malasakit Centers initiative that has been a source of aid for many Filipino families.

As chairperson of the Senate Committee on Health and Demography and principal author and sponsor of the Malasakit Centers Act of 2019, Go continues to monitor the implementation of the law to ensure that poor and indigent patients get the medical assistance they need from government.

One such case is that of a young liver transplant recipient, Yazumi Viray, whose journey has been significantly influenced by the efforts of Go and former president Rodrigo Duterte in ensuring the patient gets the treatment and assistance she needs.

During the Duterte administration, the

government stepped in to assist with the crucial liver transplant Yazumi needed in India in 2020, an important moment in her battle with biliary atresia. Their efforts were not just a one-time intervention but have been a continuous source of support, ensuring Yazumi’s health and well being through the Malasakit Centers.

In an interview with Edelyn Mansanis Viray, Yazumi’s mother, she offered an insight into how these centers have become a vital part of their lives.

Edelyn, in a detailed recount of her daughter’s health journey, described the challenges they faced since Yazumi’s diagnosis with biliary atresia at four months old. Following a costly liver transplant in 2017, the family’s financial and emotional struggles were compounded when Yazumi

7. Better decision making

CRITICAL thinking helps us deal with everyday problems as they come our way, and very often this thought process is even done subconsciously. It helps us think independently and trust our gut feeling.

8. Promotes curiosity

CRITICAL thinkers are constantly curious about all kinds of things in life and tend to have a wide range of interests. Critical thinking means constantly asking questions and wanting to know more, about why, what, who, where, when, and everything else that can help them make sense of a situation or concept, never taking anything at face value.

9. How is critical thinking developed at school?

MUCH of this important skill must be practiced at school, and rightfully so! The youth must learn to think critically!

When a teacher asks a question in class, students must be given the chance to answer for themselves and think critically about what they learned and what they believe to be accurate.

When students work in groups and are forced to engage in discussion, this is a great chance to expand their thinking and use their critical thinking skills.

Once they have finished school and entered the workforce, their critical thinking journey only expands and grows from here!

Finally, in the wake of ChatGPT, some argue that artificial intelligence (AI) poses the greatest existential threat of our time.

Advanced algorithms can automate jobs, enable manipulation through deepfakes, and weaponize disinformation. But AI systems are still designed by humans. Their capabilities are limited by what programmers develop.

While potentially dangerous, current AI lacks sentience—the ability to think and feel.

Minds design, build, regulate, and use technology for good or ill. Minds make ethical judgments with global consequences.

No algorithm can replace human wisdom and analysis and critical reading and thinking skills.

I look forward to receiving your comments; please contact me at hjschumacher59@ gmail.com began to experience complications.

“Nagre -reject na ‘yung liver niya ,” Edelyn explained, highlighting the precarious nature of her daughter’s health and the constant need for medical attention and medication.

Her introduction to the Malasakit Center at the National Kidney and Transplant Institute (NKTI) in Quezon City marked a significant turning point for the Viray family, coming after the vital intervention

by Duterte and Go in 2020. Their efforts were instrumental in facilitating Yazumi’s liver transplant in India, a critical procedure that set the course for her improved health.

Alongside this, the Malasakit Center provided substantial and consistent support, as Edelyn recalled, “Malasakit Center po ‘yung nakatulong po sa amin para lahat po ng hospita l bill po namin maging zero balance po.”

News BusinessMirror

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

Tuesday, January 23, 2024

BAI confirms swine flu outbreak in 3 Occidental Mindoro towns

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE Bureau of Animal Industry (BAI) on Monday announced that Occidental Mindoro is no longer free from African swine fever (ASF) after confirming outbreaks of the transboundary animal disease in three towns in the province.

In a statement, the Department of Agriculture (DA) disclosed that the BAI confirmed the new ASF cases in Occidental Mindoro, the

first in the province.

With this development, both Oriental Mindoro and Occidental Mindoro have confirmed ASF

Romualdez: House to flex oversight muscle on budget spending and Cha-cha campaign

S

PEAKER Ferdinand Martin G. Romualdez assured Monday the House of Representatives will focus its time on using its oversight power to ensure that the 2024 national budget is used appropriately and laws are implemented while examining the 1987 Constitution.

Upon reconvening after the Christmas recess, Romualdez highlighted the House’s oversight functions, emphasizing its commitment to scr utinizing gover nment operations and conducting legislative inquiries in aid of legislation.

He shared that House committees had recently investigated gaps and confusion in the implementation of laws benefiting senior citizens, persons with disabilities (PWD), and solo parents.

He said that aside from approving proposed laws, “we have also ably demonstrated our resolve to address issues that impact our fellow Filipinos by exercising our oversight functions.”

“We scrutinized government operations by conducting legislative inquiries in aid of legislation. We engaged our counterparts in the Executive department in open and honest discussions, gathered reliable information, and offered immediate recommendations,” he added.

Romualdez underscored the House’s legislative achievements, having passed all 17 priority measures listed by President Ferdinand Marcos Jr. in his last State of the Nation Address, along with 20 bills targeted for approval by the Legislative-Executive Development Advisory Council (LEDAC) before the end of 2023.

“These are just a few of our notable accomplishments. The question that begs for a sincere response, however, is: what additional measures could we take to better serve the Filipino people? ” he asked.

According to the Speaker, the 4th LEDAC meeting has been scheduled on Thursday.

Continued from A1 from 0.09 percent in 2017 to 0.14 percent in 2022. This is, by far, the lowest spectrum revenue rate among regional peers, such as Malaysia [0.34 percent], Indonesia [0.91 percent], and Thailand [1.57 percent],” the report stated.

Apart from this, the World Bank said some of the binding constraints that have prevented the Philippines from investing in better broadband infrastructure include barriers to market entry, as well as an “unlevel playing field” that stem from problems such as price discrimination that is disadvantageous to small Internet Service Providers (ISPs).

The report also noted that an ineffective infrastructure sharing policy framework has not only led to

Reexamine

RECOGNIZING the critical need to attract foreign capital and direct investments into the national economy, Romualdez also said the Congress deems it imperative to reexamine the Constitution.

“We shall also continue to review our laws and policies and remain open to the challenges of our duties as representatives of the people.

Our aim is to address pressing contemporary issues and introduce reforms. We need to strengthen the relevance and applicability of established laws and policies to align with existing conditions, including amendments to the Constitution, all for the benefit of the people and the economic prosperity of our nation,” he added.

The House leader welcomed the decision by the Senate to join the House in its push for Charter reform so the country could attract more foreign investors.

“It is critical that we facilitate the entry of foreign capital and direct investments into our economy. It is imperative that we reexamine the Constitution and carefully scrutinize pertinent economic provisions to eliminate the barriers that restrict potential growth,” he added.

“With the help of the Senate and all Filipinos who desire change, our dream of opening the economy so that the funds needed to create more businesses, jobs, and livelihoods for Filipinos will come true,” he said.

Romualdez, meanwhile, also reiterated his proposal for the Maharlika Investment Fund to invest in the country’s power transmission grid operated by the National Grid Corp. of the Philippines.

“Everyone is aware of the recent power outages that nearly paralyzed Panay and Guimaras islands. This incident demonstrated the crucial role of our power infrastructure in ensuring energy security and sustainable development in the country,” he said.

Jovee Marie N. Dela Cruz

outbreaks already.

The DA said the local government units concerned are now conducting necessary protocols to address the ASF outbreaks including “thorough” surveillance, depopulation and culling of affected pigs.

“BAI also detected Monday recurrenceofapositivecaseinNaujan, keeping the Oriental Mindoro town under tight monitoring and movement of hogs within town limits,” the DA said on Monday.

“BAI confirmed the ASF cases in Occidental Mindoro on January 12, a few days after a couple of barangays in Sta. Cruz and San Jose reported an unusual number of pig deaths,” the DA added.

The DA explained that the blood samples from Occidental Mindoro

were sent to BAI this month, which yielded positive results: seven cases in San Jose, five cases in Sta. Cruz and two cases in Rizal.

“ASF cases in the island were first detected in Oriental Mindoro late last year. Pig production in the Oriental Mindoro towns of Naujan and Calapan are now being strictly monitored due to previous ASF cases while the town of Baco is being monitored for the virus,” the DA said.

The areas with confirmed ASF outbreaks are now placed under red zone in compliance with the DA’s prevailing rules and regulations in addressing the disease. Areas placed under red zones have restricted hog movement. “ T he DA is now awaiting

Charter change may unlock investments for ‘capital thirsty’ agri sector–Salceda

A

N economist-lawmaker on Monday asserted that Charter change might hold the key to addressing some of the most urgent national issues, as it will open the tap for the “capitalthirsty” agriculture sector.

House Committee on Ways and Means chairman Joey Sarte Salceda issued the statement after a recent OCTA survey revealed that foodrelated issues dominate the minds of Filipinos now, and not Cha-cha.

In the OCTA survey, it was revealed that an overwhelming 56 percent of Filipinos consider food-related issues as their top priority, emphasizing the significance of kitchen table concerns in the daily lives of citizens. Jobs, wages, and poverty collectively account for 23 percent, while changing the Constitution at 1 percent.

He emphasized that the administration’s primary focus should be on providing support for the financial stability and dining tables of Filipino families.

“That said, Charter change is naturally not an everyday household concern;

apart from signing onto the People’s Initiative, households have very little direct involvement in that process.

But Charter change—especially the House’s preferred amendments—is key to addressing the most urgent national concerns,” he explained.

“In 1987, we had only 57.4 million mouths to feed. With a population of 117.4 million now, we have to feed 60 million more people. It’s time to open the pipes of foreign investment to our capital-dry agriculture sector,” he added.

Salceda said the stranglehold on the flow of capital to the agriculture sector is due to existing restrictions in the Constitution and related laws.

“The flow of capital to the agriculture sector has been tightly strangled by restrictions in the Constitution and the resulting restrictions in our laws.

These restrictions cover ownership, lease, transfer, and even foreign management, leaving foreign investors very little room for involvement in local agriculture,” he said.

The proposed House provision seeks to allow legislation to govern constitutional restrictions on foreign

KHAN IN MANILA United Nations Special Rapporteur (UNSR) on freedom of opinion and

expression Irene Khan lands at the Ninoy Aquino International Airport Terminal 1 on Monday, January 22, 2024. Khan came to the Philippines four days after the international nongovernmental organization Committee to Protect Journalists (CPJ) reported that Asia, including the Philippines, remains the region with the highest number of journalists in jail. NONIE REYES

PHL investment gap in connectivity at P110B weak coordination among operators and regulators, but made “network deployment costly and inefficient.”

The World Bank noted another constraint: the lack of a modern spectrum policy framework. The report said the radio spectrum management is based on analog-era laws enacted almost a century ago or in the 1930s; and over three decades ago or the 1990s.

“Unlike in other countries, the Philippines allows an assignee to indefinitely hold spectrum and does not require any service obligation. Procedures in spectrum recall and reassignment are unclear, and spectrum assignment and

re q u e s t s f ro m L G U s [ l o c a l government units] to activate additional surveillance groups and from affected farmers for the indemnification of slaughtered hogs. The DA pays P5,000 for each slaughtered swine due to ASF, with the limit at 20 heads of pigs,” it said.

The DA noted that Mindoro province supplies hogs to Metro Manila and to some parts of Region VI. In 2022, Occidental and Oriental Mindoro combined for a hog production of 34,933.33 metric tons (MT), about 2 percent of the country’s total output of 1.737 million MT during the period, based on Philippine Statistics Authority data.

use non-transparent, causing spectrum fragmentation, spectrum scarcity, and under-collection of government revenue,” the World Bank said.

Outdated law

EARLIER, Socioeconomic Planning Secretary Arsenio M. Balisacan told reporters that the Radio Control Law of 1931 is outdated and should not be allowed to celebrate its centennial in 2031.

Balisacan said, therefore, that it is imperative for the Legislative-Executive Development Advisory Council (Ledac) to include this in the priority bills to be crafted by Congress.

USAID Better Access and Connectivity (Beacon) Consultant Scott Minehane explained that a spectrum is an electromagnetic wave comprising both electric and magnetic fields. It is not only related to telecommunication but also aeronautics, the maritime industry, and even microwave technology.

Minehane said it is considered a national resource that is also a nonexhaustible natural resource that needs to be managed. It can be reused by dividing into frequencies, time, angle of arrival, polarization, geography, and users.

Compared to its peers in the Association of Southeast Asian Nations

land ownership or use, he added.

Salceda believed that this change could contribute significantly to the growth of the agriculture sector, potentially doubling its contribution to the economy by unlocking up to 7.11 percent in nominal GDP growth.

According to the lawmaker, the Philippines currently face challenges in agricultural mechanization, with a low rate of 1.23 horsepower per hectare for all crops.

In comparison, he said countries like Vietnam, Thailand, and Indonesia has higher mechanization rates.

Salceda pointed out that the lack of foreign investment in Philippine agriculture is due to the absence of legal alternatives that guarantee tenurial rights and security for investors.

“For example, our mechanization rate is about 1.23 horsepower per hectare for all crops, versus 1.6 horsepower in Vietnam [already easier to cultivate manually because of topography], Thailand, and Indonesia.

“In Vietnam, while land ownership is not allowed, there has been no hard foreign equity restriction on the ownership of corporations leasing farmland since at least 2013. Certain states in Malaysia allow foreign ownership of agricultural land specifically for export or agro-industry. In Indonesia, it is also relatively easy to undertake agriculture as a foreigner through a foreign-owned limited liability company,” he said.

“In Thailand, their Board of Investments can make exceptions to the general restriction against direct foreign land ownership. In the Philippines, no such legal alternatives that give the guarantee of tenurial rights exist,” he added.

The lawmaker said the House’s stance is to govern land restrictions through legislation that can adapt to changing times rather than relying on rigid constitutional prohibitions.

Salceda emphasized the need to open the doors to foreign investment, especially considering the country’s growing population, which requires sustained food production.

Jovee Marie N. Dela Cruz

(Asean), only the Philippines has a spectrum law that is older than 1999, Minehane said in a forum presentation.

Apart from the amendment of the law, the Philippines, he added, should allocate more International Mobile Telecommunications (IMT) spectrum intelligently and sustainably and as soon as possible.

According to him, allocating more IMT spectrum will allow the country to extend wireless connectivity such as to 6G, which is expected in 2030. An expanded IMT spectrum will allow for future allocations beyond 6G. He also cited a need to balance higher spectrum allocations through improvements in infrastructure investment.

This should include geographic extension of access network reach in rural and regional areas.

A5

DAR exec vows to boost DAR’s support service component

S

TRESSING that support service is the “heart and soul” of the Department of Agrarian Reform (DAR), a senior official of the agency tasked to implement agrarian reform vowed to make a unified Support Services Office more visible under her leadership.

This was assured by DAR Undersecretary for Support Services Rowena Niña O. Taduran during a recent forum with officials and employees of DAR in Camarines Sur. She said she prefers to stick to her way of doing things and shared the relevance of cooperation, communication, and coordination.

Taduran added a leader should be willing to listen without biases, and accomplishing goals is a collaborative effort.

The DAR official also said she values promptness to ensure the timely implementation of programs, while staying true to the agency’s vision of improving the beneficiaries’ quality of life.

During her talk, Taduran also committed to the 9 Primary Goals of DAR Secretary Conrado Estrella III, which include intervention in land tenure issues, agrarian justice delivery, support services, medical assistance, educational assistance, farm-to-market roads, diversified income sources, and irrigation, once again reiterating that collaboration is essential.

She also urged DAR officials and employees to support the soon-to-be launched “Bagong Pilipinas” brand of governance of President Ferdinand R. Marcos Jr. on January 28, 2024. Taduran also encouraged everyone to show patriotism and help in the extensive campaign of this initiative to build a better future. Jonathan L. Mayuga

NEW SBMA CHIEF ALIÑO VOWS BIZ-FRIENDLY SUBIC CLIMATE Continued from A14 After joining another firm in 1983 as director for vessel operation, he then moved on to various senior positions companies involved in in trading, cargo handling, and manufacturing.

He was chairman and president of the S.T.A.R. Group of Companies, a major player in integrated supply chain services and port operations, from 2018 until December last year.

He sees a positive outlook for the free port in the years to come because “2023 was basically a good year” for local businesses, citing his own experience as a business locator here.

Citing as an example Subic Bay Freeport Grain Terminal Services Inc., the flagship company of the S.T.A.R. Group, Aliño said the company used to handle 7,000 tons of grains but this increased fourfold to 24,000 tons last year.

As to prospective investors, he said that he will soon be receiving businessmen from Japan who have signified interest in Subic.

Aliño also stressed that he means to keep businesses in Subic happy, adding that he would lend an understanding ear to locator-companies that have faltered along the way while doing business here.

“Business is always a risk,” he pointed out when asked if he would continue the past administration’s policy of closing down businesses with outstanding debts to the Subic agency. “Let us try to understand what happened to them. They invested much here. We should try to help them out first.”

Aliño also vowed to be impartial to business locators in Subic. “We will be fair. We will try do our job well as we go forward,” he added.

Before the press conference, the new Subic chief also rallied SBMA employees to provide better service to the public and customers of the agency, as he pointed out his mandate as SBMA head.

“I am here with no other motivation than to develop Subic and make it better,” Aliño said. “I want to give back to Subic, so please help me.”

BusinessMirror

Tuesday, January 23, 2024

A6

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

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

MASUMORI, RYOTA Record To Report Ops Senior Analyst 1.

Brief Job Description: Responsible for activities assigned by the Accounts Payable Team Lead. Processes transactions of medium to difficult complexity.

TAKEMOTO, SAORI Talent Connector Senior Analyst 2.

Brief Job Description: Talent connector plays an important role in internal assignment process for employees in Japan.

Basic Qualification: Experience with accounting systems.

Microsoft Office skills.

Proficient with Japanese language (Native/N1/N2/ N3).

3.

Brief Job Description: Recruiting staffs who can speak Mandarin language.

4.

5.

Brief Job Description: Provide customer service to clients.

YANG, XIN Customer Service Representative (Chinese Speaking) Brief Job Description: Provide customer service to clients.

11.

Basic Qualification: Must have at least 1 year of work experience. Must have both Japanese and English language skills (Native/N1/N2/N3).

Brief Job Description: Ensure products meet established quality standards and industry benchmarks. They monitor processes and inspect produced goods and services. They propose measures and process improvements to enhance operations, ensure reliability of systems, and minimize downtime, errors, and defects.

12.

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

SHI, YANGYU Quality Assurance Specialist

13.

Basic Qualification: Can speak Mandarin language.

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

HE, LEI Chinese Speaking Admin Associate 14.

Basic Qualification: Any nationality who can speak and write Chinese language fluently. Detailoriented and can multitask.

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

Basic Qualification: Any nationality who can speak and write Chinese language fluently.

Preferably 6 months to 1-year customer service experience. Detailoriented and has the ability to multi-task.

6.

Brief Job Description: Provide customer service to clients.

Basic Qualification: Any nationality who can speak and write Chinese language fluently. Detailoriented and has the ability to multi-task.

LUAN, LING Procurement Specialist

7.

Brief Job Description: A procurement specialist facilitates purchases from outside suppliers to keep a business running. Their primary responsibilities include researching key suppliers, negotiating purchase agreements, and ensuring all products and materials meet company standards.

WU, ZHAOSHENG Supply Chain Manager

8.

Brief Job Description: Supply Chain Managers are responsible for overseeing and managing company’s overall supply chain and logistics strategy and operations in order to maximize the process efficiency and productivity.

In addition, they play a crucial role in developing and maintaining good relationships with vendors and distributors.

Basic Qualification: Strong verbal and written communication skills. The ability to plan, delegate and evaluate progress toward goals is necessary for managing these projects. Must have strong problem-solving skills.

15.

9.

Brief Job Description: Are key to finding the right business solution for an organization. Helps an organization implement a new business solution or tweak the existing solution.

16.

10.

Brief Job Description: Are key to finding the right business solution for an organization. Helps an organization implement a new business solution or tweak the existing solution.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

DO NHAT ANH Chinese Speaking Business Development Associate 17.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

LI, SHIMAO Chinese Speaking Business Development Associate 18.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

LIN, XU Chinese Speaking Business Development Associate 19.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

SINGSAGUL, DUANGNAPA Chinese Speaking Business Development Associate 20.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

DENG, QINYUAN Chinese Speaking Data Entry Clerk 21.

Basic Qualification: Should have analytical skills, communication skills, and creativeness.

Experience in related field is an edge. Must have any bachelor’s degree like Business Management or Computer Science.

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

SHI, SHANGFU Dynamic Functional Consultant

QUALIFICATION AND SALARY RANGE Basic Qualification: Outstanding problemsolving and decisionmaking skills. Excellent verbal and writing skills.

Strong analytical and organizational skills.

No.

Basic Qualification: Should have analytical skills, communication skills, and creativeness.

Experience in related field is an edge. Must have any bachelor’s degree like Business Management or Computer Science.

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

Brief Job Description: Gather data and capture the information into databases.

NGO THI THUY NGAN Chinese Speaking Data Entry Clerk 22.

Brief Job Description: Gather data and capture the information into databases.

SUBAN HARTONO Chinese Speaking Data Entry Clerk 23.

Brief Job Description: Gather data and capture the information into databases.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, HAIJIAO Chinese Speaking Data Entry Clerk

24.

Brief Job Description: Correcting errors and organizing the information in a manner that will optimize swift and accurate capturing.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Outstanding problemsolving and decisionmaking skills. Excellent verbal and writing skills.

Strong analytical and organizational skills.

YANG, SIANG-YU Chinese Speaking Data Entry Clerk 25.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Outstanding problemsolving and decisionmaking skills. Excellent verbal and writing skills.

Strong analytical and organizational skills.

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

26.

27.

28.

29.

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

30.

31.

32.

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

Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills.

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

Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills.

33.

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

Brief Job Description: Perform retouching and manipulation of images.

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

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

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

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

DONG, BAOYU Chinese Speaking Program Designer 34.

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

HOANG THU PHUONG Chinese Speaking Program Designer 35.

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

KANG, RAN Chinese Speaking Program Designer 36.

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

Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills.

VO THI MINH THU Chinese Speaking Graphic Designer

CHEN, YUNSHENG Chinese Speaking Program Designer

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

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

Brief Job Description: Planning concepts by studying relevant information and materials.

CHEN, YUANBEN Chinese Speaking Program Designer

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

Brief Job Description: Perform retouching and manipulation of images.

CHEN, JUNYU Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent written and verbal communication skills. Strong organization and project management skills.

NGUYEN DINH THANG Chinese Speaking Graphic Designer

BONG JAN CHON Chinese Speaking Program Designer

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

Brief Job Description: Gather data and capture the information into databases.

NGUYEN TU LONG Chinese Speaking Graphic Designer

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

Brief Job Description: Correcting errors and organizing the information in a manner that will optimize swift and accurate capturing.

ZHANG, MAOJIAN Chinese Speaking Data Entry Clerk

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

ARISE AND GAIN MERCHANDISE CORP. 65, Road 20, Bahay Toro, Quezon City

MA, XIAOLIANG Dynamic Functional Consultant

Brief Job Description: Responsible for providing overall administrative support to the team he/she will be assigned to.

CHEN, YUANCHAO Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Strong organizational and management skills including problem-solving, representational skills and excellent verbal and written skills. Selfmotivated and creative.

Brief Job Description: Responsible for providing overall administrative support to the team he/she will be assigned to.

HUANG, QI Chinese Speaking Admin Associate

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

AM-PRO IMPORTS MARKETING CORP. 16e Residenza Suites, 429 Shaw Blvd., Addition Hills, City Of Mandaluyong

Brief Job Description: Ensure products meet established quality standards and industry benchmarks. They monitor processes and inspect produced goods and services. They propose measures and process improvements to enhance operations, ensure reliability of systems, and minimize downtime, errors, and defects.

ESTABLISHMENT / ADDRESS

CRONYX INC. 6-12, 15-19/f Royal Peak Tower A, 485 Quirino Avenue, Tambo, City Of Parañaque

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

YU, XINLIN Customer Service Representative (Chinese Speaking)

Brief Job Description: Ensure products meet established quality standards and industry benchmarks. They monitor processes and inspect produced goods and services. They propose measures and process improvements to enhance operations, ensure reliability of systems, and minimize downtime, errors, and defects.

HUANG, LIN Quality Assurance Specialist

ALTERA KARNA BUSINESS CORP. 5th, 6th, 7th Flrs. Eighty-one Newport Blvd., Newport City St., Barangay 183, Pasay City

LOUIS TAN HOW ANN Customer Service Representative (Chinese Speaking)

CHENG, MEIZHU Quality Assurance Specialist

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

ALPHA CENTURY CONSULTANCY INC. 15/f Tower 2 Rcbc Plaza, 6819 Ayala Ave., Bel-air, City Of Makati

KHIEW XUAN YING Mandarin Human Resource (HR) Specialist

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Document all aspects of software, for ongoing maintenance and revisions.

LAI, RONGCAI Chinese Speaking Program Designer 37.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills.

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

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

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience computer aided design. Good in verbal and written communication.

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, SHAOPING Chinese Speaking Program Designer

38.

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

LIU, YONGJIE Chinese Speaking Program Designer 39.

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

MO, FAN Chinese Speaking Program Designer 40.

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

QIU, JUNKE Chinese Speaking Program Designer 41.

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

WANG, BIN Chinese Speaking Program Designer 42.

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

WU, ZHENYU Chinese Speaking Program Designer 43.

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

XIANG, TONG Chinese Speaking Program Designer 44.

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

ZHANG, GUANGTING Chinese Speaking Program Designer 45.

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

ZHANG, LIANG Chinese Speaking Program Designer 46.

Brief Job Description: Testing and deploying programs and systems. Verify and deploy programs and systems.

ZHANG, RONGZHEN Chinese Speaking Program Designer 47.

Brief Job Description: Testing and deploying programs and systems. Verify and deploy programs and systems.

ZHANG, YAN Chinese Speaking Program Designer 48.

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

ZHI, HUALEI Chinese Speaking Program Designer 49.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: With experience computer aided design. Good in verbal communication and written.

No.

LIU, SONGHE Chinese Speaking Business Development Associate 54.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience computer aided design. Good in verbal communication and written.

55.

56.

57.

58.

59.

60.

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

61.

62.

63.

64.

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

51.

Brief Job Description: Prepare airline and custom documentation.

LYU, CHENGSHI Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentation.

Basic Qualification: Knowledgeable in Chinese documentation.

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

66.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

HUANG, YUANGANG Chinese Speaking Business Development Associate 53.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

Brief Job Description: Entering and updating information into relevant databases.

Basic Qualification: Knowledgeable in Chinese documentation.

YU, SHENGCAN Chinese Speaking Data Entry Clerk

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

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 8th/f & 10th/f Platinum Tower Building, Aseana Ave. Cor. Fuentes Street, Baclaran, City Of Parañaque

52.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients.

XIE, QIN Chinese Speaking Data Entry Clerk

67.

HUANG, YANNI Chinese Speaking Business Development Associate

Brief Job Description: Correcting errors and organizing the information in a manner that will optimize swift and accurate capturing

TRIEU THI THUY TIEN Chinese Speaking Data Entry Clerk

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

50.

Brief Job Description: Correcting errors and organizing the information in a manner that will optimize swift and accurate capturing.

LUAN, LI Chinese Speaking Data Entry Clerk

65.

LAI, JINJIE Chinese Cargo Office Agent

Brief Job Description: Entering and updating information into relevant databases.

JIANG, XICHENG Chinese Speaking Data Entry Clerk

Basic Qualification: With experience in computer aided design and good in verbal and written communication.

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

Brief Job Description: Identify and maintain new business opportunities and existing partners.

FAN, JIFEI Chinese Speaking Data Entry Clerk

Basic Qualification: With experience in computer design. With good verbal and written communication.

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

Brief Job Description: Identify and maintain new business opportunities and existing partners.

ZHONG, KE Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience in computer design. With good verbal and written communication.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

ZHAO, QUANJUN Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience in computer aided design and good in verbal and written communication.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

ZHANG, XIN Chinese Speaking Business Development Associate

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

Brief Job Description: Identify and maintain new business opportunities and existing partners.

ZHANG, WEI Chinese Speaking Business Development Associate

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

Brief Job Description: Identify and maintain new business opportunities and existing partners.

YU, ZHENHUA Chinese Speaking Business Development Associate

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

Brief Job Description: Identify and maintain new business opportunities and existing partners.

TIAN, SENJIA Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience computer aided design. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

SIAH CHUN FOOK Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience computer aided design. Good in verbal communication and written.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

ZHANG, XUFENG Chinese Speaking Graphic Designer 68.

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

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

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

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients.

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

GIP PHAT THANH Chinese Speaking HR Associate 69.

Brief Job Description: Managing HR records including, résumés, applicant logs, and employee forms.

Tuesday, January 23, 2024

A7

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

No.

GUNAWAN Chinese Speaking HR Associate 70.

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

71.

72.

73.

Brief Job Description: Managing HR records including, résumés, applicant logs, and employee forms.

GUO, YU Chinese Speaking Program Designer 74.

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

Brief Job Description: Managing HR records including, résumés, applicant logs, and employee forms.

WANG, JINBO Chinese Speaking HR Associate

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

Brief Job Description: Managing HR records including resumes, applicant logs, and employee forms.

TO VAN TRUONG Chinese Speaking HR Associate

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

Brief Job Description: Managing HR records including, résumés, applicant logs, and employee forms.

LI, YINSONG Chinese Speaking HR Associate

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team.

SONG, GAOWEI Chinese Speaking Program Designer 75.

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

SUN, SHIJIE Chinese Speaking Program Designer

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

76.

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

WANG, XIAOJUN Chinese Speaking Program Designer 77.

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

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

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

Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team.

WU, RUOPENG Chinese Speaking Program Designer 78.

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

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

Brief Job Description: Contacting candidate references and verifying education listings.

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

YAN, YONG Chinese Speaking Program Designer 79.

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

DUAN, AOJUN Marketing And Sales Agent 80.

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

JEK SEN Marketing And Sales Agent 81.

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

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

YAP QIAO WEI Marketing And Sales Agent 82.

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

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

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

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

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

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

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

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

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

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

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

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

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

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

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

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

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

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

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

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

QUALIFICATION AND SALARY RANGE

ZHANG, CONGCONG Marketing And Sales Agent 83.

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

Basic Qualification: Can contribute information ideas and research to help develop marketing strategies can help to detail design and implements marketing plans for each product or service being offered Salary Range: Php 30,000 - Php 59,999

A6 A8

BusinessMirror

Tuesday, January 23, 2024

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHANG, YI Marketing And Sales Agent 84.

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

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

No.

97.

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

HONG, LIJUN Senior Marketing Specialist 85.

Brief Job Description: Looking after the budget of the marketing department and making sure the budget spend is delivering a return on investment. Managing the design and production of promotional materials, such as websites and brochures.

Basic Qualification: Can work harmoniously with executive team such as the Marketing Director or Managing Director to set the marketing strategy for the business. Able to speak and communicate using Mandarin language is an advantage.

98.

86.

Brief Job Description: Responsible for supporting the efficient and effective operation of the logistics department. This position involves providing administrative and operational assistance to the Area Manager to ensure the smooth flow of goods, inventory management, and compliance with logistics procedures and regulations.

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

99.

TUNG, YU-CHING a.k.a. JULIAN Marketing Consultant (Mandarin Speaking Clients) 87.

Brief Job Description: Studying company profile and operations to understand its marketing needs. Implementing a marketing strategy according to objectives and budget.

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

88.

Brief Job Description: Maintain accurate sales records.

JIANG, YALUN Mandarin Technical Support

89.

Brief Job Description: Monitoring and maintaining computer systems and network

Basic Qualification: Can speak Mandarin language.

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

100.

90.

Basic Qualification: Foreign language speaking.

Brief Job Description: Manage large amount of incoming calls.

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

Brief Job Description: Testing and deploying programs and systems. Verify and deploy programs and systems.

MAESEN, GUIDO JOZEF J. Senior Financial Manager

101.

Brief Job Description: Responsible for supervising, managing and coordinating the administration on complex dredging projects worldwide. Responsible for setting up, following up and checking of the local bookkeeping of the project. The observance of fiscal rules, verification of invoices and follow-up of payments in view of a correct data processing.

THANT ZIN HTWE Chinese Speaking Business Financial Officer 91.

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

102.

PUNEET KUMAR Senior Product Manager Brief Job Description: Serves as the primary product solutions expert.

NAIR, SANDEEP Deputy Manager 92.

Brief Job Description: Managing all HR activities for A{AC and Middle East, Team Management, Stakeholder Management and Reporting and Analysis.

CAROL SHELICA TANGKA Indonesian Customer Service Representative 103.

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

DEWI Indonesian Customer Service Representative 104.

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

FELIX CHRISTOPER EFFENDI Indonesian Customer Service Representative 105.

106.

93.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

ZENG, JUNYING Chinese Speaking Data Entry Clerk 94.

Brief Job Description: Gather data and capture the information into databases.

ZHANG, SONGBO Chinese Speaking Data Entry Clerk 95.

Brief Job Description: Gather data and capture the information into databases.

DAI, WENYONG Chinese Speaking Graphic Designer 96.

Brief Job Description: Planning concepts by studying relevant information and materials.

Basic Qualification: Proven graphic designing experience. Good in verbal and written communication.

107.

108.

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

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

STEPHEN SANYOHAN Indonesian Customer Service Representative 109.

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

TASYA KARNADI Indonesian Customer Service Representative 110.

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

OKTAVIA PANGESTU Indonesian Customer Service Representative

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

Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills.

113.

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

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

TEJA RAKANATA Indonesian Customer Service Representative 111.

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

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

JIANG, ZEYU Chinese Speaking Business Development Associate

Basic Qualification: With experience in computer design. With good verbal and written communication.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

NONG THI NGA Chinese Speaking Business Development Associate

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

Brief Job Description: Identify and maintain new business opportunities and existing partners.

ZHU, LILING Chinese Speaking Business Development Associate 116.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

Salary Range: Php 500,000 and above ZHU, YUANQING Chinese Speaking Graphic Designer 117.

Basic Qualification: Vast experience in launching lending products end-to-end.

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

Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

118.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

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

Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

119.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

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

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

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

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

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

Basic Qualification: Excellent problem-solving, communication, and teamworking skills.

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

NITORI PHILIPPINES INC. 23/f Tower 6789, 6789 Ayala Avenue, Bel-air, City Of Makati KURAHASHI, YUMETO Trading And Delivery Manager 120.

Brief Job Description: Coordinate import/export shipment activities, including customs clearance and documentation.

Analyze sales figures and forecast future sales.

Develop and implement policies and procedures related to imports and exports.

Basic Qualification: College graduate. With an extensive experience in supply chain management, import operation, executive level transaction and documentation.

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

OCEANIC SYMPHONY SERVICES INC. 17/f Alphaland Corporate Tower, 7232 Ayala Ave. Extn., Cor Malugay St., Bel-air, City Of Makati

121.

YANG, XIYUN Mandarin Marketing Specialist Brief Job Description: Organize promotions and event for company clients.

Basic Qualification: Can speak Mandarin language.

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

ONE BORDERLINE CREATIVES INC. Unit 11-ij3, 11/f Burgundy Corporate Tower, 252 Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

LI, JIAN Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

Basic Qualification: Can speak Mandarin language.

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

OPELLA HEALTHCARE PHILIPPINES INC. One World Place, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

SATHIRAKAWINSKUL, MONSINEE Country Head, Philippines 123.

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

Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

Brief Job Description: Managing HR records including, résumés, applicant logs, and employee forms.

CHEN, MINCHAO Research Analyst For Chinese Client

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

Brief Job Description: Planning concepts by studying relevant information and materials.

HOANG THI NGUYEN Chinese Speaking HR Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

QUALIFICATION AND SALARY RANGE

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque

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

Basic Qualification: College graduate. With at least 15 years of work experience on international dredging projects.

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

YOSSY KAMALIA Indonesian Customer Service Representative

122.

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

Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills.

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

MUHAMMAD FIKRI Indonesian Customer Service Representative

INFOVINE INC. 9/f Y Tower, Moa Complex, Coral Way Drive Cor. Macapagal, Barangay 76, Pasay City

SUM SOAK ENG Chinese Speaking Business Development Associate

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

GOUW MARIA Indonesian Customer Service Representative

Basic Qualification: Holder of a Bachelor’s Degree in Commerce. With at least 17 years of work experience in HR domain.

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

112.

MPOTECH DIGITAL SYSTEM INC. 2/f 331 Bldg., Sen. Gil Puyat Ave., Bel-air, City Of Maka

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

HCL TECHNOLOGIES PHILIPPINES, INC. 10th Floor, Six/neo 5th Avenue Corner 26th Street E-square Crescent Park West, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

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

MAYA BANK, INC. 6/f Launchpad, Reliance Cor. Sheridan, Highway Hills, City Of Mandaluyong

GRAND EVEREST HOLDING INC. 17/f M1 Tower, 141 H.v. Dela Costa St., Bel-air, City Of Makati Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

Basic Qualification: Ability to concentrate for lengthy periods. With good verbal and written communication skills.

No.

115.

GIGA INFORMATION TECHNOLOGY AND SOFTWARE DEVELOPMENT INC. 2/f Lipam’s Building, 40 Presidents Avenue, B. F. Homes, City Of Parañaque SU, GENWANG Chinese Customer Service Representative

QUALIFICATION AND SALARY RANGE

JAN DE NUL (PHILS.), INC. Unit No.2ecb004004, Flr. No. 4 Bldg. No. Tower B., Two E-com Center Bldg. Lot No. 4, Bayshore Ave., Mall Of Asia Complex St. District 1, Barangay 76, Pasay City

Basic Qualification: Can speak Mandarin language.

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

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

LEE KIM SIONG Chinese Speaking Program Designer

FLYING FUTURE SERVICES INC. 21/f Yuchengco Tower 1 Rcbc Plaza, 6819 Ayala Ave, Bel-air, City Of Makati CHOY SIN FEI Mandarin Operations Specialist

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

ESTABLISHMENT / ADDRESS

114.

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Bldg. Newport City, Vab St. Newport Blvd., Barangay 183, Pasay City Basic Qualification: Preferably 6 months experience with the above position. Can multi-task and keen to details. Any nationality who can speak and write Chinese language fluently.

Brief Job Description: Perform retouching and manipulation of images.

GAO, XIAOBO Chinese Speaking Program Designer

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

Basic Qualification: Job-related degree, 5-10 years supervisory/ managerial experience in logistics or operations and multi-lingual applicants are prioritized.

TAN, YA Chinese Speaking Graphic Designer

CHAI ZHI YANG Chinese Speaking Program Designer

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 11/f Cybersigma, Lawton Ave., West Mckinley, Fort Bonifacio, City Of Taguig SU, NA Assistant To Area Manager

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Defines and implements country strategy, lead and develop the CHC team, holds full P&L accountability for the country CHC business, and ensures operational and supply management.

Basic Qualification: BA or Master’s Degree in Business Administration or similar, deep business acumen and detailed market knowledge, min. of 10 years of experience in a managerial role and multicultural experience from the international environment.

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

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

KUO, YUANFU Mandarin Customer Service

Basic Qualification: Graduate of a 4 years Bachelor’s degree with critical thinking and problem-solving skills.

124.

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

PRIME ENERGY RESOURCES DEVELOPMENT B.V. 19/f Asian Star Bldg., Asean Drive, Alabang, City Of Muntinlupa

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

Basic Qualification: Can speak Mandarin language.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

MARTIN, JOHN Drilling Superintendent 125.

Brief Job Description: Ensure the correct management of the drilling operations by optimizing the assets and equipment and supervising the execution of the activities of the team members.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate. With at least 15 years of workrelated experience in a major oil company.

With extensive training history and well control certification.

126.

127.

128.

129.

130.

131.

132.

133.

134.

Brief Job Description: Customer relation service provider.

CHEN, DING Customer Service Representative Brief Job Description: Customer relation service provider.

HUANG, QIUXIA Customer Service Representative Brief Job Description: Customer relation service provider.

LE DUC UOC Customer Service Representative Brief Job Description: Customer relation service provider.

NGUYEN GIA NAM Customer Service Representative Brief Job Description: Customer relation service provider.

SON, HYEONGUK Customer Service Representative Brief Job Description: Customer relation service provider.

SUN, ZHONGLIN Customer Service Representative Brief Job Description: Customer relation service provider.

WU, XIAOFANG Customer Service Representative Brief Job Description: Customer relation service provider.

ZHAO, KELE Customer Service Representative Brief Job Description: Customer relation service provider.

Basic Qualification: Fluent in multiple languages both verbal and written.

139.

TAKAO, SHINJI Japanese Senior Representative 140.

135.

Brief Job Description: Lead the team in driving cutting-edge research and initiatives development. With proven track record of strategic leadership and deep understanding of R&D processes and a passport for fostering a culture of innovation.

CHEN, FEIHONG Chinese Marketing And Sales Consultant 141.

136.

Brief Job Description: Maintains alignment with team leads & account managers through Milo’s and regular one-onone discussions. Analyzes sales data to identify opportunities including up-sell, cross-sell, share of wallet, churn. Works with account managers to create a plan to proactively reach out to customers.

LIMA OLIVEIRA, JOAO Chinese Marketing And Sales Consultant 142.

137.

Brief Job Description: Reporting to the head office the business developments in the Philippines and the status of the manila branch operations in the Philippines.

143.

Basic Qualification: Fluent in multiple languages both verbal and written.

LI, GUISHENG General Automotive Mechanic 144.

Basic Qualification: Fluent in multiple languages both verbal and written.

Brief Job Description: Provide customer service in assisting clients with their inquiries about the company’s adminplus services via inbound and outbound calls.

Brief Job Description: Automotive mechanics help diagnose and repair various issues for different automotive vehicles, including cars, trucks and vans

LI, XIANRONG General Automotive Mechanic 145.

Brief Job Description: Automotive mechanics help diagnose and repair various issues for different automotive vehicles, including cars, trucks and vans

LIANG, SHANGHAI Customer Relation Representative (Mandarin Translation)

Basic Qualification: Fluent in English, Mandarin and any language.

Brief Job Description: Handles service support calls, emails and chats related to client’s inquiry.

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

WANG, YANCHUN Customer Relation Representative (Mandarin Translation)

Basic Qualification: Fluent in English, Mandarin and any language.

Brief Job Description: Handles service support calls, emails and chats related to client’s inquiry.

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

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

GONG, QIQIONG Chinese Speaking Sales Marketing Specialist Basic Qualification: Strong knowledge of sales and persuasion techniques coupled with excellent knowledge of the products. Knowledge of data analysis and market research. Intuition about customer desires and practical needs.

Basic Qualification: Strong knowledge of sales and persuasion techniques coupled with excellent knowledge of the products. Knowledge of data analysis and market research. Intuition about customer desires and practical needs.

Brief Job Description: Establishing goals and objectives in order to reach our customers through appropriate marketing channels (digital and traditional).

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

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

LI, XUENING Chinese Speaking Sales Marketing Specialist 152.

Brief Job Description: Creating marketing materials for our website and other marketing platforms.

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

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

ZENG, YANFANG Chinese Speaking Sales Marketing Specialist 153.

Basic Qualification: Must develop skills in areas like problem-solving, communication, and attention to detail. Strong communication skills are a critical component of an auto mechanic’s abilities.

Time management also helps mechanics estimate how long each repair will take.

Brief Job Description: Creating marketing materials for our website and other marketing platforms.

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

ZHOU, DAN Chinese Speaking Sales Marketing Specialist 154.

Basic Qualification: Must develop skills in areas like problem-solving, communication, and attention to detail. Strong communication skills are a critical component of an auto mechanic’s abilities.

Time management also helps mechanics estimate how long each repair will take.

Basic Qualification: Must develop skills in areas like problem-solving, communication, and attention to detail. Strong communication skills are a critical component of an auto mechanic’s abilities.

Time management also helps mechanics estimate how long each repair will take.

LYU, JUNLIN General Automotive Mechanic 146.

Basic Qualification: Tertiary education.

Proficiency with word, excel & database tools experience in project management.

Brief Job Description: Automotive mechanics help diagnose and repair various issues for different automotive vehicles, including cars, trucks and vans

Basic Qualification: Must develop skills in areas like problem-solving, communication, and attention to detail. Strong communication skills are a critical component of an auto mechanic’s abilities.

Time management also helps mechanics estimate how long each repair will take.

QIAO, GUOCAI General Automotive Mechanic 147.

Basic Qualification: Bachelor’s/college degree holder in any field.

Brief Job Description: Automotive mechanics help diagnose and repair various issues for different automotive vehicles, including cars, trucks and vans.

Basic Qualification: Must develop skills in areas like problem-solving, communication, and attention to detail. Strong communication skills are a critical component of an auto mechanic’s abilities.

Time management also helps mechanics estimate how long each repair will take.

155.

SU, XUEHUI General Automotive Mechanic Brief Job Description: Automotive mechanics help diagnose and repair various issues for different automotive vehicles, including cars, trucks and vans

Basic Qualification: Must develop skills in areas like problem-solving, communication, and attention to detail. Strong communication skills are a critical component of an auto mechanic’s abilities.

Time management also helps mechanics estimate how long each repair will take.

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

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

Brief Job Description: Monitoring and maintaining computer systems and networks.

Basic Qualification: Can speak Mandarin language.

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

WIPRO PHILIPPINES, INC. 7th Floor Eton Centris Building, Edsa, Corner Quezon Avenue, Quezon City

NISAR AHMAD BAIG System Administrator 156.

Brief Job Description: Leads discussions with the customer business to help formulate and execute EUC Field Services, Engineering and Service desk operation strategies.

Basic Qualification: Bachelor’s Degree holder.

Minimum of 10-12 years of relevant work experience.

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

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati

LIN, MINGFU Chinese Language Marketing Staff 157.

Brief Job Description: Conduct marketing activities, create promotion of products and services offered by the company and track their success.

HANNY OCTAVIANI Indonesian Language Marketing Staff 158.

Brief Job Description: Conduct marketing activities, create promotion of products and services offered by the company and track their success.

RIZKI HILMAWAN PUTRA Indonesian Language Marketing Staff 159.

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

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

Brief Job Description: Creating marketing materials for our website and other marketing platforms.

LI, JINHONG Mandarin Technical Support

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

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

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

WIKITECH SERVICES INC. 10/f Alphaland Corporate Tower, 7232 Ayala Avenue Ext. Corner Malugay St., Bel-air, City Of Makati

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

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

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

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

QUALIFICATION AND SALARY RANGE

WELL SOLUTION CORP. Unit 1100-d 11/f Vicente Madrigal Bldg., 6793 Ayala Avenue, Bel-air, City Of Makati

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

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

Basic Qualification: Holder of a Bachelor’s Degree in Computer Science. Superior customer service skills, and fluent in English and French languages.

Basic Qualification: College graduate. With previous work experience in a related field.

150.

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

148.

138.

Brief Job Description: Automotive mechanics help diagnose and repair various issues for different automotive vehicles, including cars, trucks and vans.

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

SUN LIFE FINANCIAL ASIA SERVICES LIMITED 4th Flr. Sunlife Centre, 5th Ave. Cor. Rizal Drive, Bonifacio Global City, Fort Bonifacio, City Of Taguig

UWINGABIRE, HEUREUSE Gb Adminplus Member Specialist

Brief Job Description: Identify effective marketing campaigns that will reach targeted audiences effectively and efficiently.

HAO, JIANJUN General Automotive Mechanic

Basic Qualification: Fluent in multiple languages both verbal and written.

Basic Qualification: MBA in Computer Science holder. With proven experience in a senior leadership role in an R&D environment. With strong strategic planning and execution skills.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

Basic Qualification: Fluent in multiple languages both verbal and written.

SHINHAN BANK - MANILA BRANCH 21st Floor, Unit 1& 2, A.t. Yuchengco Centre, 26th & 25th Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

LEE, KYUNGROC Country Head

Brief Job Description: Identify effective marketing campaigns that will reach targeted audiences effectively and efficiently.

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

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

149.

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

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

SHELL SHARED SERVICES (ASIA) B.V. 16/f-25/f Solaris One Bldg., 130 Dela Rosa St., San Lorenzo, City Of Makati

MBIDA ESSONO, GUY MELLON Commercial Specialist

Brief Job Description: Collecting information regarding Philippine economic situation and TMP as a client of Toyofuji Shipping Co. Ltd. - Japan. Make a marketing study in connection to client needs.

Basic Qualification: Fluent in multiple languages both verbal and written.

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

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

151.

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

Basic Qualification: Fluent in multiple languages both verbal and written.

No.

VEHICLE MASTER SERVICE CORP. #27, T. Santiago St., Canumay West, City Of Valenzuela

SAMSUNG ELECTRONICS PHILIPPINES CORPORATION 7th-10th Floor Science Hub Tower 4, Mckinley Hill, Pinagsama, City Of Taguig

PARK, YONG SEOK Managing Director For The Research And Development (R&D) Division

Brief Job Description: Managing CSR and EPR with local and international clients.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in multiple languages both verbal and written.

QUALIFICATION AND SALARY RANGE

TOYOFUJI SHIPPING CO., LTD-PHILIPPINE REPRESENTATIVE OFFICE 5/f Altoha Bldg., 2100 Madre Ignacia St., 077, Barangay 701, Malate, City Of Manila

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in multiple languages both verbal and written.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LESAGE, FRANCOIS JEAN MARIE GUILLAUME President And General Manager

A9

ESTABLISHMENT / ADDRESS

THE PLASTIC FLAMINGO PHILIPPINES INC. 24, Rmt Tunasan Industrial Complex, Tunasan, City Of Muntinlupa

Salary Range: Php 500,000 and above

ROYAL GLOBAL TECHNOLOGIES INC​.

2nd, 3rd, 5th, 6th, Ph Flr., Bpo Global Link Center, Shaw Blvd., Wack-wack Greenhills, City Of Mandaluyong

CHAN CHONG KUAN Customer Service Representative

No.

Tuesday, January 23, 2024

Brief Job Description: Conduct marketing activities, create promotion of products and services offered by the company and track their success.

THOONG NHU Y Vietnamese Language Research Analyst 160.

Brief Job Description: Conduct research on products and services as specified.

Basic Qualification: Proficient in speaking in Mandarin language.

Salary Range: Php 30,000 – Php 59,999

Basic Qualification: Proficient in speaking in Bahasa language.

Salary Range: Php 30,000 – Php 59,999

Basic Qualification: Proficient in speaking in Bahasa language.

Salary Range: Php 30,000 – Php 59,999

Basic Qualification: Excellent in Vietnamese language.

Salary Range: Php 30,000 – Php 59,999 *Date Generated: Jan 22, 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.

TheWorld BusinessMirror

A10 Tuesday, January 23, 2024

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

Palestinian deaths in Gaza exceed 25,000; Israel announces death of another hostage

By Najib Jobain & Samy Magdy

R

The Associated Press

AFAH, Gaza Strip—The Palestinian death toll from the war between Israel and Hamas has soared past 25,000, the Health Ministry in the Gaza Strip said Sunday, while Israel announced the death of another hostage and appeared far from achieving its goals of freeing more than 100 others and crushing the militant group.

The war’s deaths, destruction and displacement are without precedent in the decades-old Israeli-Palestinian conflict. The war has divided Israelis while the offensive threatens to ignite a wider conflict involving Iran-backed groups in Lebanon, Syria, Iraq and Yemen that support the Palestinians.

Furious with the Israeli government and demanding the release of remaining hostages, relatives and others set up a tent camp outside Israeli Prime Minister Benjamin Netanyahu’s residence in Jerusalem and vowed to stay until a deal is reached.

Netanyahu, in a defiant new statement, said he stressed in his conversation Friday with US President Joe Biden that he rejects Hamas demands for a cease-fire, Israeli forces’ withdrawal and the release of Palestinians held by Israel in exchange for the remaining hostages.

He said that agreeing means another

devastating Hamas attack “would only be a matter of time.”

Netanyahu also rejects calls from US, its closest ally, for postwar plans that would include a path to Palestinian statehood. UN Secretary-General Antonio Guterres called the refusal to accept a twostate solution unacceptable.

“The Middle East is a tinderbox.

We must do all we can to prevent conflict igniting across the region,” Guterres added. “And that starts with an immediate humanitarian cease-fire to relieve the suffering in Gaza.”

Gaza death toll climbs

THE war began with Hamas’ attack in southern Israel on October 7.

Palestinian militants killed some 1,200 people, mostly civilians, and took about 250 hostages back to Gaza.

Israel ’s military announced the death of 19-year-old Sgt. Shay

ISRAELI soldiers move on armored personnel carriers near the Israeli-Gaza border as smoke rises in the Gaza Strip, seen from southern Israel on Sunday, January 21, 2024. AP/LEO CORREA

Levinson, who was among the hostages. His date of death was given as October 7, but there were no further details. According to Israeli media, his body is still in Gaza.

Israel has responded to the October 7 attack with a bombing campaign and ground invasion that laid waste to entire neighborhoods in northern Gaza and spread south, striking some areas where it told civilians to seek refuge.

Ground operations are now focused on the southern city of Khan Younis and built-up refugee camps in central Gaza dating to the 1948 war surrounding Israel’s creation.

“The plumes of smoke from tanks, artillery and the planes of the air force will continue to cover the sky over the Gaza Strip until we will achieve our goals,” Defense Minister Yoav Gallant said.

Since the war started, 25,105 Palestinians have been killed in Gaza, while another 62,681

Top diplomat says Saudi won’t recognize Israel without a path to Palestinian state

By Melanie Lidman & Wafaa Shurafa The Associated Press

J

ERUSALEM—Saudi Arabia’s foreign minister says the kingdom will not normalize relations with Israel or contribute to Gaza’s reconstruction without a credible pathway to a Palestinian state.

Prince Faisal bin Farhan’s remarks in an interview with CNN broadcast late Sunday were some of the most direct yet from Saudi officials. It puts them at odds with Israeli Prime Minister Benjamin Netanyahu, who has rejected Palestinian statehood and described plans for open-ended military control over Gaza.

The dispute over Gaza’s future—coming as the war still rages with no end in sight— pits the United States and its Arab allies against Israel and poses a major obstacle to any plans for postwar governance or reconstruction in Gaza.

Before the October 7 Hamas attack that triggered the war, the US had been trying to broker a landmark agreement in which Saudi Arabia would normalize relations with Israel in exchange for US security guarantees, aid in establishing a civilian nuclear program in the kingdom, and progress toward resolving the Israeli-Palestinian conflict.

In September, Netanyahu had said Israel was “at the cusp” of such a deal, which he said would transform the Middle East.

In the interview with “CNN’s Fareed Zakaria GPS,” the host asked: “Are you saying unequivocally that if there is not a credible and irreversible path to a Palestinian state, there will not be normalization of relations between Saudi Arabia and Israel?”

“That’s the only way we’re going to get a benefit,” Prince Faisal replied. “So, yes.”

DEMONSTRATORS hold signs and wave flags during a pro-Palestinian rally in Brussels on Sunday, January 21, 2024. AP/GEERT VANDEN WIJNGAERT

Earlier in the interview, when asked if oilrich Saudi Arabia would finance reconstruction in Gaza—where Israel’s air and ground offensive has devastated vast swaths of the impoverished territory, Prince Faisal gave a similar answer.

“As long as we’re able to find a pathway to a solution, a resolution, a pathway that means that we’re not going to be here again in a year or two, then we can talk about anything,” he said. “But if we are just resetting to the status quo before October 7, in a way that sets us up for another round of this, as we have seen in the past, we’re not interested in that conversation.”

The Palestinians seek a state that would include Gaza, the Israeli-occupied West Bank and annexed east Jerusalem, territories Israel captured in the 1967 Mideast war.

Israel views all of Jerusalem as its capital and the West Bank as the historical and biblical heartland of the Jewish people. It has built scores of settlements across both territories that are home to hundreds of thousands of Jewish settlers. The last of several rounds of peace talks broke down nearly 15 years ago.

Over 25,000 killed in Gaza

THE current war between Israel and Hamas,

the fifth and by far deadliest, began when Palestinian militants broke through Israel’s defenses and rampaged through several nearby communities, killing some 1,200 people, mostly civilians, taking around 250 people hostage and shattering Israelis’ sense of security.

Israel’s offensive has killed at least 25,105 Palestinians in Gaza and wounded more than 60,000, according to the Health Ministry in the Hamas-ruled territory. The ministry does not distinguish between civilians and combatants but says around two-thirds of those killed were women and children.

The Israeli military says it has killed around 9,000 militants, without providing evidence, and blames the high civilian death toll on Hamas because it positions fighters, tunnels and other militant infrastructure in dense residential areas.

Some 85 percent of Gaza’s population of 2.3 million have fled their homes, seeking elusive shelter in the south as Israel continues to strike all parts of the besieged enclave. UN officials say one in four people in Gaza are starving as the ongoing fighting and Israeli restrictions hinder the delivery of humanitarian aid.

The war has also stoked tensions across the

have been wounded, the Health Ministry said. The toll included the 178 bodies brought to Gaza’s hospitals since Saturday, Health Ministry spokesperson Ashraf alQidra said.

The overall toll is thought to be higher because many casualties remain buried under rubble or in areas that medics cannot reach, Al-Qidra said.

The Health Ministry does not differentiate between civilians and combatants in its figures but says about two-thirds of the people killed in Gaza were women and minors. The ministry is part of the Hamas-run government, but its casualty figures from previous wars were largely consistent with those of UN agencies and even the Israeli military.

The Israeli military says it has killed around 9,000 militants, without providing evidence, and blames the high civilian death region, with Iran-backed groups in Lebanon, Syria, Iraq and Yemen attacking Israeli and US targets as the risk of a wider conflict grows.

Netanyahu under mounting pressure from all sides

NETANYAHU has vowed to continue the offensive until “complete victory” over Hamas and to return all of the remaining hostages after more than 100 were released in a ceasefire deal in November in exchange for scores of Palestinians imprisoned by Israel.

But Israelis are increasingly divided on the question of whether that’s possible.

Hamas is believed to be holding the hostages in tunnels deep underground and using them as shields for its top leaders.

Israel has only successfully rescued one hostage, while Hamas says several have been killed in Israeli airstrikes or during failed rescue operations.

Families of the hostages, as well as other protesters, have set up a tent camp outside Netanyahu’s residence in Jerusalem and vowed to remain until a deal is reached with Hamas to bring the rest of the hostages home. Other protests have called for new elections.

Netanyahu has ruled out another ceasefire and exchange, saying military pressure is key to freeing the captives. Hamas has said it will only release more captives in exchange for an end to the war and the release of thousands of Palestinian prisoners.

The long-serving prime minister, whose popularity has plummeted since October 7, faces pressure from the US—Israel’s top ally—to shift to more precise military operations, do more to facilitate humanitarian aid and embrace postwar plans with broad support across the region.

But Netanyahu’s governing coalition is beholden to far-right parties that want to step up the offensive, encourage the “voluntary” emigration of hundreds of thousands of Palestinians from Gaza, and re-establish Jewish settlements there.

Shurafa reported from Deir al-Balah, Gaza Strip.

toll on Hamas because it positions fighters, tunnels and other militant infrastructure in dense neighborhoods. The military released footage of a tunnel under a residential neighborhood in Khan Younis where the army believes at least 20 hostages were kept at different times.

Israel’s military said the demolition last week of a key building at Israa University in Gaza was under review, and asserted that preliminary findings indicated Hamas had used the compound for military purposes. The university has said the “attack” came weeks after Israeli forces occupied the building.

The war has displaced some 85 percent of Gaza’s residents, with hundreds of thousands packing UN-run shelters and camps in the south. UN officials say a quarter of the population of 2.3 million is starving as a trickle of humanitarian aid reaches them because of the fighting and Israeli restrictions.

Israel said 260 trucks of aid entered Gaza on Sunday, the highest number since the war began. About 500 entered daily before that, according to the UN. “Bread does not suffice for one hour,” said Ahmad Al-Nashawi, who accepted donated food at a tent camp in the southern city of Rafah. “You can see how many children we have other than women and men. What matters most for a child is to eat.”

Israelis increasingly divided

AT the new protest camp outside Netanyahu’s Jerusalem residence, hostages’ families urged the government to act.

“It’s not logical that you’re telling us the war must continue, and

you keep saying that because of military pressure we will release them, but we don’t see a single one released because of this pressure,” said Gilad Korengold, the father of hostage Tal Shoham.

Some top Israeli officials have begun to acknowledge that Netanyahu’s goals of “complete victory” over Hamas and returning the remaining hostages might be mutually exclusive.

A member of Israel ’s Wa r Cabinet, former army chief Gadi Eisenkot, said last week that the only way to free the hostages was through a cease-fire.

But Netanyahu’s far-right coalition partners push him to step up the offensive, with some calling for the “voluntary” emigration of hundreds of thousands of Palestinians from Gaza and the re-establishment of Jewish settlements there.

Hamas is believed to be using the hostages as shields for its top leaders. Israel has rescued one hostage, and Hamas says several have been killed in Israeli airstrikes or during failed rescue operations.

Hostages’ families want an exchange like the one during a weeklong November cease-fire.

Other Israelis are frustrated by the security failures ahead of the October 7 attack and by Netanyahu’s handling of the war.

Near the site of an October 7 massacre during a music festival, families of Israeli victims planted trees.

“W hat happened after 109 days? Nothing. We’re just still waiting,” said one father, Idan Bahat.

Magdy reported from Cairo. Associated Press writer Melanie Lidman in Jerusalem contributed.

27 people reported killed in an attack on Russian-occupied Donetsk in Ukraine

K

YIV, Ukraine—Moscow-installed officials said Ukrainian shelling killed at least 27 people and wounded 25 on Sunday at a market on the outskirts of Donetsk, a Russian-occupied city in the eastern part of the country.

Among the injured in the suburb of Tekstilshchik were two children, said Denis Pushilin, the local leader.

Ukrainian officials in Kyiv did not comment on the incident, and the claims could not be independently verified by The Associated Press. Both sides have increasingly relied on longer-range attacks this winter amid largely unchanged positions on the 1,500-kilometer (930-mile) front line in the nearly 2-year-old war.

The artillery shells that hit the area had been fired from the area of Kurakhove and Krasnohorivka to the west, Pushilin said, adding that emergency services responded to the scene.

UN Secretary-General Antonio Guterres “strongly condemns all attacks against civilians and civilian infrastructure, including today’s shelling of the city of Donetsk in Ukraine,” according to a UN spokesperson, adding that all such attacks are prohibited under international humanitarian law.

Donetsk is one of four regions in Ukraine that Russia annexed illegally in 2022, months after Moscow launched its full-scale invasion.

Russia’s Foreign Ministry also blamed Ukraine and described the strike as a “terrorist attack.”

Also on Sunday, a fire broke out at a chemical transport terminal at Russia’s Ust-Luga port following two explosions, regional officials said. Local media said the Baltic Sea port, 165 kilometers (about 100 miles) southwest of St. Petersburg, had been attacked by Ukrainian drones, causing a gas tank to explode.

The blaze was at a site run by Russia’s

second-largest natural gas producer, Novatek.

In a statement to Russian media outlet RBC, the company blamed the fire on an “external influence,” saying operations at the port were paused.

Yuri Zapalatsky, the head of the Kingisepp district on the Gulf of Finland where the port is located, said there were no casualties but the area was on high alert.

News outlet Fontanka reported that two drones had been detected flying toward St. Petersburg on Sunday morning, but were redirected toward the Kingisepp district. AP could not independently verify the reports.

Russia’s Defense Ministry did not report any drone activity in the Kingisepp area in its daily briefing. It said that four Ukrainian drones had been downed in Russia’s Smolensk region, and that two more were shot down in the Oryol and Tula regions.

Russian officials previously confirmed a Ukrainian drone had been downed on the outskirts of St. Petersburg on Thursday.

In fighting on the front line, Russia’s Defense Ministry said Moscow’s forces had taken control of the village of Krokhmalne in Ukraine’s Kharkiv region. Ukrainian forces confirmed the settlement had been occupied, but described its capture as temporary.

Ukrainian Ground Forces Command spokesman Volodymyr Fityo said Kyiv’s troops had been pulled back to reserve positions from the village, which had a population of about 45 people before the start of the war.

“That’s five houses, probably,” he was quoted as saying by Ukrainian news outlet Hromadske. “Our main goal is to save the lives of Ukraine’s defenders.”

Recent Russian attacks have tried to find gaps in Ukraine’s defenses by using large numbers of missiles and drones in an apparent effort to saturate air defense systems.

TheWorld BusinessMirror

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Tuesday, January 23, 2024 A11

Japan becomes the fifth country to land a spacecraft on the moon

By Mari Yamaguchi

T

The Associated Press

OKYO—Japan became the fifth country in history to reach the moon when one of its spacecraft without astronauts successfully made a soft landing on the lunar surface early Saturday.

However, space officials said they needed more time to analyze whether the Smart Lander for Investigating Moon, or SLIM, achieved its mission priority of making a pinpoint landing. They also said the craft’s solar panel had failed to generate power, which could shorten its activity on the moon.

Space officials believe that the SLIM’s small rovers were launched as planned and that data was being transmitted back to Earth, said Hitoshi Kuninaka, head of the Institute of Space and Astronautical Science, a unit of Japan’s space agency.

But he said that SLIM’s solar battery wasn’t generating power and that it had only a few more hours of battery life. He said the priority was for the craft to gather as much data about its landing and the moon as possible on the remaining battery.

Japan follows the United States, the Soviet Union, China and India in reaching the moon.

Kuninaka said he believes that Japan’s space program at least achieved “minimum” success.

SLIM landed on the moon at about 12:20 a.m. Tokyo time Saturday (1520 GMT Friday).

There was a tense wait for news after the Japan Aerospace Exploration Agency’s mission control initially said that SLIM was on the lunar surface, but that it was still “checking its status.” No further details were given until a news conference nearly two hours later.

For the mission to be considered fully successful, space officials needed to confirm whether SLIM made a pinpoint landing. Kuninaka said that while more time was needed, he personally thought it was most likely achieved, based on his observation of data showing the spacecraft’s movement until the landing and its ability to transmit signals after landing. He said the solar panel is possibly not in the planned angle, but there is still hope.

Despite the solar panel issue, “ it ’s delightf u l news,” Pr ime

JOURNALISTS watch a live streaming of the pinpoint moon landing operation by the Smart Lander for Investigating Moon (SLIM) spacecraft at JAXA’s Sagamihara Campus on Saturday, January 20, 2024, in Sagamihara near Tokyo. AP/EUGENE HOSHIKO

Minister Fumio Kishida said in a message posted on X, formerly known as Twitter, pledging the government’s continuing backing for the endeavors toward new challenges.

NASA Administrator Bill Nelson also lauded SLIM’s landing with an X message, congratulating Japan “on being the historic 5th country to land successfully on the Moon! We value our partnership in the cosmos and continued collaboration” in the US-led multinational Artemis Moon exploration.

SLIM, which was aiming to hit a very small target, is a lightweight spacecraft about the size of a passenger vehicle. It was using “pinpoint landing” technology that promises far greater control than any previous moon landing.

While most previous probes

Trump celebrates DeSantis’ choice to drop out, ending bitter feud that defined 2024 campaign

By Bill Barrow & Michelle L. Price The Associated Press

R

OCHESTER, N.H.—Donald Trump set aside months of criticism and mockery of Ron DeSantis on Sunday night, celebrating his onetime Republican rival as his newest supporter after the Florida governor ended his presidential campaign and endorsed the former president.

For Trump, it’s become a familiar ritual to welcome the backing of someone who tried to take him on. Nonetheless, it was notable at Sunday’s rally in New Hampshire to see Trump praise DeSantis without calling him “DeSantimonious” or “DeSanctus,” putting an end to perhaps the most bitter rivalry of Republicans’ 2024 campaign.

“I just want to thank Ron and congratulate him on doing a very good job,” Trump said at the outset of his remarks.

“He was very gracious, and he endorsed me.

I appreciate that, and I also look forward to working with Ron.” Trump described DeSantis as “a really terrific person.”

Earlier in the day, DeSantis said via video that he would be ending his campaign two days before New Hampshire’s first-inthe-nation GOP primary. But, Trump’s glee Sunday night aside, it wasn’t the warmest of endorsements.

“It’s clear to me that a majority of Republican primary voters want to give Donald Trump another chance,” DeSantis said, offering matter-of-fact analysis through a forced smile, without adding plaudits for Trump.

“I signed a pledge to support the Republican nominee, and I will honor that pledge,” he continued, before adding a dig at the remaining contender, Nikki Haley. DeSantis described the former

UN ambassador and one-time South Carolina governor as a stand-in for “the old Republican guard of yester year, a repackaged form of warmed- over corporatism.”

Seemingly unbothered by DeSantis’ a p p ro a c h , Tr u m p s t r u c k a to n e o f camaraderie as fellow political combatants. “I will tell you it’s not easy,” Trump said Sunday night in Rochester.

“They think it’s easy doing this stuff, right? It’s not easy.”

Then Trump quickly moved on to his typical rally speech, mixing freewheeling attacks on President Joe Biden, the political media, “the deep state” and “warmongers” in Washington, and the criminal justice that has indicted him four times, with 91 felony charges pending in multiple trials.

He devoted more time to criticizing Haley than to praising DeSantis, casting her as a tool of the political establishment he has flouted. He made sweeping promises of peace and prosperity, pledging without offering any detailed plans that he would reverse inflation and end Russia’s war in Ukraine. And he repeated his lies that his defeat to Biden in 2020 was due to fraud.

A boisterous crowd at the historic opera house in Rochester laughed, chanted and roared throughout.

“The great silent majority is rising like never before,” Trump answered.

D e S a nt i s j o i n s o t h e r f a i l e d G O P h o p e f u l s, i n c l u d i n g S o u t h Ca ro l i n a Sen. Tim Scott and entrepreneur Vivek Ramaswamy, in endorsing the former president. Trump critics Chris Christie, the former New Jersey governor, and Asa Hutchinson, the former Arkansas governor, declined to endorse Trump after suspending their campaigns; Hutchinson endorsed Haley on Saturday.

Brenda Moneypenny, a 64-year-old from

Alton, waited in the cold for two hours to see Trump on Sunday night. Moneypenny, who whipped out her driver’s license to prove her last name, said she has considered Haley, especially because of the chance to elect the first woman to the presidency. But the Republican-leaning independent said she never considered DeSantis.

“Too flim-flamsy,” Moneypenny said of the governor. “He needs better campaign people. He doesn’t have anybody that’s doing him any favors right now.”

Ultimately, she settled on Trump: “Tried and true,” she said.

The former president seemed to revel in skewering DeSantis throughout the campaign, often making clear it was a personal grudge because he considered the governor’s decision to run in the first place an act of disloyalty. Trump endorsed DeSantis, then a congressman, in a competitive 2018 GOP primary for Florida governor. DeSantis went on to win the nomination and the general election.

By the time DeSantis won a landslide reelection four years later, though, he was positioning himself for his own White House campaign.

As recently as November, Trump came to Florida and addressed a boisterous crowd at a state GOP meeting standing in front of a sign that read: “Florida is Trump Country.” That evening, Trump did not mention DeSantis until more than 30 minutes into his speech. Even then, it was to brag about polls showing his advantages over the governor.

“I endorsed him, and he became a rocket ship in 24 hours,” Trump said, claiming that DeSantis had begged for his endorsement.

“Now he’s like a wounded falling bird from the sky.”

Trump never did debate DeSantis or any other 2024 rival. He has said he wouldn’t

have used landing zones about 10 kilometers (six miles) wide, SLIM was aiming at a target of just 100 meters (330 feet).

A landing of such precision would be a world’s first, and would be crucial technology for a sustainable, long-term and accurate space probe system, said Hiroshi Yamakawa, president of Japan Aerospace Exploration Agency, or JAXA. Japan needs the technology to secure its place and contribute in international space projects, Yamakawa said.

The project was the fruit of two decades of work on precision technology by JAXA. SLIM, nicknamed “the Moon Sniper,” started its descent at midnight Saturday, and within 15 minutes it was down to about until one proves they are a legitimate threat to him winning the nomination.

DeSantis concentrated his campaign in recent months in Iowa, where he finished in second place in last week’s caucuses—30 percentage points behind Trump and barely ahead of Haley. Haley, meanwhile, has long prioritized New Hampshire as a potential springboard ahead of her home-state South Carolina primary next month.

In Iowa, APVoteCast surveys of caucusgoers suggested DeSantis’s supporters were much more likely than Haley’s to consider themselves conservatives who would back Trump no matter what if he wins the nomination and faces President Joe Biden in November. If that trend holds in New Hampshire, then Trump could expect at least some boost from DeSantis dropping out, and whatever he gets could stretch out his margin and frustrate Haley’s ability to claim any momentum. Indeed, Trump’s aides have said they expect DeSantis’ support around the country will shift heavily to Trump.

Trump noted Sunday that he won New Hampshire’s 2016 primary by about 20 points. He lost the battleground state twice in general elections.

In the closing hours of the New Hampshire campaign, Trump will be juggling his legal troubles with the demands of seeking another term. On Monday, Trump will be in New York at a civil defamation trial stemming from a columnist’s claims he sexually attacked her. Then he is scheduled to return to New Hampshire for an evening rally in Laconia.

“I don’t have to be there,” he said of the court proceedings. “I could use your prayers.

But look, it is what it is.”

His first criminal trial, stemming from charges that he is responsible for his supporters’ January 6, 2021, attack on the US Capitol, is scheduled to begin the day before the Super Tuesday primary slate on March 5.

“It’s a disgrace,” Trump said.

Barrow reported from Atlanta.

10 kilometers (six miles) above the lunar surface, according to the space agency, which is known as JA X A. At an altitude of five kilometers (three miles), the lander was in a vertical descent mode, then at 50 meters (165 feet) above the surface, SLIM was supposed to make a parallel movement to find a safe landing spot, JAXA said.

The spacecraft was testing technology to allow moon missions to land “where we want to, rather than where it is easy to land,” JAXA has said. The spacecraft also was supposed to seek clues about the origin of the moon, including analyzing minerals with a special camera.

The SLIM, equipped with a pad each on its five legs to cushion impact, was aiming to land near the Shioli crater, near a region covered in volcanic rock.

The closely watched mission came only 10 days after a moon mission by a US private company failed when the spacecraft developed a fuel leak hours after the launch.

SLIM was launched on a Mitsubishi Heav y H2A rocket in September. It initially orbited Earth and entered lunar orbit on December 25.

Japan hopes to regain confidence for its space technology after a number of failures. A spacecraft designed by a Japanese company crashed during a lunar landing attempt in April, and a new flagship rocket failed its debut launch in March.

JAXA has a track record with difficult landings. Its Hayabusa2 space-

craft, launched in 2014, touched down twice on the 900-meter-long (3,000-foot-long) asteroid Ryugu, collecting samples that were returned to Earth.

A successful pinpoint landing

by SLIM, especially on the moon, would raise Japan’s profile in the global space technology race.

Takeshi Tsuchiya, aeronautics professor at the Graduate School of Engineering at the University of Tokyo, said it was important to confirm the accuracy of landing on a targeted area.

“It is necessary to show the world that Japan has the appropriate technology in order to be able to properly assert Japan’s position in lunar development,” he said. The moon is important from the perspective of explorations of resources, and it can also be used as a base to go to other planets, like Mars, he said.

Experts say Japan needs to demonstrate its consistency in the precision landing technology to be competitive.

SLIM was carrying two small autonomous probes—lunar excursion vehicles LEV-1 and LEV-2, which officials say were believed to have been released just before landing.

LEV-1, equipped with an antenna and a camera, is tasked with recording SLIM’s landing. LEV-2, is a ball-shaped rover equipped with two cameras, developed by JAXA together with Sony, toymaker Tomy and Doshisha University.

Ayaka McGill contributed to this report.

Taiwan says 6 Chinese balloons flew through its airspace, warplanes and ships also detected

By Christopher Bodeen The Associated Press

T

A IPEI, Taiwan—Taiwan said Monday that six Chinese balloons either flew over the island or through airspace just north of it, while Chinese warplanes and navy ships were also detected in the area.

The dispatch of such balloons, which generally disappear into the Pacific to the east, appears to be on the rise, though their purpose has not been publicly announced.

The Defense Ministry noted the balloon sightings on a list of Chinese People’s Liberation Army activity in the waters and airspace around Taiwan. One passed near the southern city of Pingtung, while the others flew just north of the port of Keelung, where Taiwan has an important naval base.

It remains unclear whether the balloons have an explicit military function, but they appear to be part of a campaign of harassment against the self-governed island, which China claims as its own territory and has vowed to reclaim by force if necessary.

In the leadup to Taiwan’s presidential election earlier this month, China had been stepping up such activities, along with its rhetorical threats, though Beijing’s threats are generally seen as backfiring.

T he i ndependence -lea n i ng Democratic Progressive Party won a third straight term in the presidency, this time under current Vice President Lai Ching-te, or William Lai. The pro-unification Nationalist Party won just one more seat in the legislature than the DPP. The

party of former Taipei Mayor Ko Wen-je siphoned votes off both parties, especially by appealing to young people fed up with politics as they are.

In the US early last year, President Joe Biden vowed sharper rules to track, monitor and potentially shoot down unknown aerial objects after a three-week drama sparked by the discovery of a suspected Chinese spy balloon transiting much of the United States.

The US labeled the balloon a military craft and shot it down with a missile. It recovered what it said was sophisticated surveillance equipment. China responded angrily, saying it was only a weather balloon that had blown off course and called its downing a major overreaction.

Those are sometimes referred to as China’s “gray area tactics” that cause consternation among its foes without sparking a direct confrontation. China has long blurred the lines between military and civilian functions, including in the South China Sea, where it operates a huge maritime militia —ostensibly civilian fishing boats that act under government orders to assert Beijing’s territorial claims.

China’s campaign of intimidation against Taiwan includes the regular deployment of Chinese warships and planes in waters and airspace around the island, often crossing the middle line of the 160-kilometer (100-mile) -wide Taiwan Strait that divides them.

The two split following the seizure of power by Mao Zedong’s Communists on the Chinese mainland.

A12 Tuesday, January 23, 2024 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

Empowering OFWs: The need for financial literacy initiatives

T

he recent announcement by the Bangko Sentral ng Pilipinas (BSP) regarding the substantial increase in personal remittances of overseas Filipino workers from January to November 2023 is a cause for celebration and reflection. Despite global uncertainties and economic challenges, our hardworking OFWs have once again demonstrated their unwavering commitment to their families and the economic development of our nation.

The figures released by the BSP reveal a commendable increase in personal remittances, with $33.6 billion recorded from January to November 2023. This represents a significant 3 percent increase compared to the same period in 2022 when remittances amounted to $32.6 billion. Moreover, November 2023 witnessed a notable surge, as remittances reached $3 billion, marking a $100 million increase from November 2022.

While the growth of OFW remittances is undoubtedly a positive development for the Philippine economy, concerns surrounding the savings habits of our modern-day heroes must not be overlooked. It is imperative that we address these concerns promptly through comprehensive financial literacy programs, accessible financial services, and initiatives that promote entrepreneurship and investment.

By empowering OFWs to save and invest wisely, we can help secure their future and contribute to the country’s overall economic well-being. Let us not only appreciate their hard work but also provide the necessary tools and support to ensure their financial resilience and prosperity.

There have been several successful financial literacy programs implemented in various countries that have made a significant impact on improving financial knowledge and behaviors. We can leverage on the following examples: Australia’s The “MoneySmart” program: This program, initiated by the Australian Securities and Investments Commission, provides a wide range of educational resources, tools, and interactive online modules to improve financial literacy. It covers topics such as budgeting, saving, investing, and managing debt. The program has been successful in reaching a large audience and has received positive feedback for its user-friendly approach.

Singapore’s “MoneySENSE” program: MoneySENSE is a collaborative effort between the government, financial industry, and consumer associations in Singapore. It offers workshops, seminars, and online resources on various financial topics, including budgeting, retirement planning, and investment strategies. The program aims to empower individuals with the knowledge and skills to make informed financial decisions. It has been effective in raising awareness and improving financial literacy among Singaporeans.

New Zealand’s “Sorted” program: Sorted, initiated by the government’s Commission for Financial Capability, is a comprehensive financial literacy program that offers practical tools, resources, and educational materials to help New Zealanders manage their money effectively. It covers various topics, including budgeting, saving, investing, and retirement planning. The program was successful in reaching diverse communities and has been praised for its simplicity and effectiveness.

United Kingdom’s “Money Advice Service” (MAS): The MAS is an independent organization that provides free and impartial money advice to UK residents. It offers a wide range of resources, including online tools, calculators, and guides on topics such as budgeting, saving, and debt management. The MAS has been successful in reaching a diverse audience and has played a crucial role in improving financial well-being across the country.

There is no necessity to recreate the wheel when it comes to financial literacy for our OFWs. What they truly require is a champion who can assist them in harnessing established systems. These successful financial literacy programs illustrate that effective financial literacy initiatives incorporate readily available resources, user-friendly tools, and cooperative endeavors involving governments, financial institutions, and community organizations.

Tailoring financial literacy programs specifically for OFWs and their families is crucial. These programs should consider their unique circumstances, challenges, and goals. By equipping them with the necessary knowledge and skills, we can help them maximize their earnings, effectively manage their finances, and secure a better future for themselves and their loved ones.

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Investment ‘Pain Point’ John Mangun

OUTSIDE THE BOX

T

he first known use of the term “Pain Point” was in 1986 to describe “a persistent or recurring problem [as with a product or service] that frequently inconveniences or annoys customers.”

More broadly it has evolved to mean “something that is a recurring source of trouble, annoyance, or distress.” It is one of the most critical challenges that every business, large and small, must handle.

Marketing and service consultants have qualified the four main types of customer Pain Points. The first is “Functional” when a product or service is “difficult to use, slow, or prone to errors and technical issues.” I put some of the ridiculous “CAPTCHA” response tests in that category, as well as some the customer online ordering apps. Using a Google Maps pin point to input my address is rarely accurate.

Next is the “Financial” Pain Point: “Anything that causes your customers to lose money or feel they are overpaying.” Like Warren Buffett said, “Price is what you pay; value is what you get.” I measure not the price but the value. When I want breakfast, I eat at Tropical Hut because I find no better value anyplace else. One relatively highend Café/Bakery charges P148 for a cup of “Premium Coffee.” But the

cup literally is only 75 percent filled.

Of course, I am being petty, but it is my money. They lost my business because of that “pain point.”

Any experience that impacts a customer’s feelings, morale, or “psychological well-being” creates Emotional pain. Obviously rude and unhelpful staff is at the top of the list. But as Starbucks is finding out, “unclear or complex policies or terms and conditions” regarding the Senior Citizen Discount is as much Emotional as it is Financial. The coffee shop that gives the free plain donut with every cup of coffee makes the customer feel special, appreciated, and financially rewarded for doing business there.

Finally, the “Convenience” Pain Point: anything that makes a product, service or process more timeconsuming, tedious or difficult than it needs to be. Notice the words “than

In a 2023 US Department of State report, “Foreign investors describe the inefficiency and uncertainty of the judicial system as a significant barrier to investment. Investors often decline to file cases in court because of slow and complex litigation processes and corruption fears. Stakeholders report an inexperienced judiciary when confronted with cases involving complex issues such as technology or science.” it needs to be.” I can understand that at a large supermarket, there are going to be times when the machine that allows you to pay with a credit/ debit card is not going to be working at a particular checkout cashier.

But since the company knows that is going to happen, is there a solution other than having to walk to and wait in line at the customer service desk to pay?

How does a company discover and address the pain point problem? Simple solution. Talk to the customer. No better example of that lack of understanding is found with government. Look at the discussion about “Philippines to study charter change for investment push— Marcos.”

Here is what one “expert” had to say about the Philippines’ low foreign investment. “Government never stops legislating more taxes. It takes

forever to open a new business in this country. The weather is uncertain.

The police shoot innocent teenagers. Traffic is horrendous. Crime is on the upsurge.”

Here is what IKEA said about why they chose the country to build its biggest store in the world. “It’s a very good growing economy, growing middle class and domestic environment that’s good for us as a home furnishing retailer.” Read between the lines. “The Philippines is a good place to make profits.”

Granted that the Philippines was late after other Southeast Asia destinations and perhaps could have been earlier if the local weather was better (?), the country is slated to have more IKEA stores than Malaysia and Thailand combined.

What do foreign investors want?

Land ownership is not a high priority. Only the government owns the land in Vietnam. Foreigners can lease. Thailand is amending its laws to accommodate Chinese investors, but its Industrial Estate Authority of Thailand Act provides that when the foreigners leave, the land goes back to the government.

After all the comments on “ease of doing business,” energy costs, traffic, and weather, comes the 800-pound gorilla that government refuses to talk about and that changing the Constitution will not solve.

In a 2023 US Department of State report, “Foreign investors describe the inefficiency and See “Mangun,” A13

Gloom over China assets spreading beyond battered stocks

By Marcus Wong

S

kepticism over Chinese assets is spreading beyond stocks, with investors expecting the yuan and government bonds to underperform in a year when the Federal Reserve’s dovish pivot is set to buoy emerging markets.

Bearish sentiment toward China has intensified as the latest data confirmed the world’s second largest economy remains in the doldrums.

While the gloom adds impetus for the People’s Bank of China to lower interest rates, investors say the monetary authority has less room to cut than its major global peers, whose borrowing costs are now at multiyear highs.

“We expect the yuan to remain under pressure in the near term given the bearish expectations for China growth this year,” said Ken Cheung, chief Asian currency strategist at Mizuho Bank Ltd. in Hong Kong.

“Bonds will remain supported as the PBOC will maintain an easing bias.

However, renewed yuan depreciation pressure and narrow net interest margin among Chinese banks will limit the room for rate cuts.”

As China falls out of favor, trad-

ers see multiple reasons to be more positive toward its EM peers. Higher-yielding markets will have more room to gain from the Fed’s anticipated rate cuts, while South Korea and India’s potential inclusion into major global bond indexes should give their assets an added boost.

Yuan’s relative weakness

Events over the past week have been a letdown for investors. Despite mounting calls for more stimulus, the PBOC kept its one-year policy rate unchanged, while Premier Li Qiang touted the nation’s ability to achieve economic expansion without resorting to massive stimulus, disheartening hopes for more policy support.

While the new-year selloff in Chinese assets has mostly been concentrated in equities, continued foreign outflows will increase downward

Bearish sentiment toward China has intensified as the latest data confirmed the world’s second largest economy remains in the doldrums. While the gloom adds impetus for the People’s Bank of China to lower interest rates, investors say the monetary authority has less room to cut than its major global peers, whose borrowing costs are now at multiyear highs.

pressure on its currency. The offshore yuan has weakened more than 1 percent this year, after dropping almost 3 percent in 2023.

“The yuan can weaken versus the basket of currencies of its trading partners which, for foreign investors, will offset most of the bond performance,” said Rajeev De Mello, a global macro portfolio manager at Gama Asset Management SA. “I prefer local-currency bonds and currencies of countries where policy rates have been hiked preemptively, and where inflation is declining, with Brazil and Mexico standing out.”

JPMorgan Asset Management also sees a weakening bias in the yuan basket against trading partners in the first half of the year and is looking for relative value opportunities, according to Julio Callegari, chief investment officer of Asia fixed income.

Economists expect the yuan will retrace some of its losses this year but will again underperform its Asian peers. The dollar-offshore yuan will fall 3 percent to 6.99 by the end of December, compared with an average 4.4 percent drop projected for emerging Asia ex-China pairs, according to surveys by Bloomberg. The currency was little changed at 7.2037 Monday after a third straight week of declines against the dollar.

The yuan will be “quite an uninspiring currency” in this environment, where the dollar is still strong, said Simon Harvey, head of foreignexchange analysis at Monex Europe Ltd. in London.

Less attractive yields

China’s government bonds have fared well so far this year, with yields falling as investors pinned their See “Gloom,” A13

www.news.businessmirror@gmail.com

Opinion BusinessMirror

Tuesday, January 23, 2024 A13

North Korean missiles face reality check on Putin’s battlefield

Unlocking the other items affecting VAT liability

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W

Fulvio D. Dawilan

Tax Law for Business

By Jon Herskovitz

orth Korea’s new arsenals of ballistic missiles are set for their first real-world test on the battlefield in Ukraine. But based on the success of US interceptor systems in that conflict, Kim Jong Un may be worried.

Burning through his stockpiles as the war in Ukraine nears the two-year mark, Russian President Vladimir Putin has turned to Kim to provide short-range ballistic missiles and more than 1 million rounds of artillery. The North Korean missiles sent so far are similar in size and flight dynamics to Russia’s Iskander series, weapons experts have said.

A report by the Center for Strategic and International Studies showed that the US Patriot air defense system has so far been largely effective in countering Russia’s missiles. In June, when Russia tried to take out a Patriot battery protecting Kyiv, the system shot down all of the 34 Iskander and Kinzhal missiles Russia fired, CSIS said.

That’s a warning to Putin about the KN-23 and KN-24 missiles Kim is believed to be supplying. The systems are designed to be deployed quickly, maneuverable in flight and reliably hit targets with a degree of precision. That might not be enough.

“The Patriot missile defense system should be able to intercept North Korea’s short-range ballistic missiles, given its effectiveness against Russian Iskanders,” said Shaan Shaikh, a fellow in the Missile Defense Project at CSIS, a Washington-based think tank.

Kim’s military has fired off about 120 of its missiles in tests since 2019 and is likely aiming to build an arsenal that could eventually run into the thousands. North Korea’s missiles are priced at about $5 million each, according to data compiled by the Korea Institute for Defense Analyses and released in 2022 by South Korean lawmaker Shin Won-sik, but the costs to Kim have likely dropped since then as he ramped up production.

That makes sales of the weapons a potentially significant driver of foreign revenue or crucial goods from abroad, something the sanctions-hit North Korean economy badly needs.

Yet Kim’s isolated regime, which has long used suspect activity to generate hard cash, isn’t just providing the missiles to Putin for commercial reasons.

The use of the North Korean missiles appears to be quite new, and data is likely sparse on their performance.

Any information Kim can glean about his weaponry’s performance in real-world combat could also help his regime refine future designs and attack strategies.

“Russia’s use of DPRK ballistic missiles in Ukraine also provides valuable technical and military insights to the DPRK,” the US State Department said in a joint statement this month that included about 50 countries, referring to North Korea by its formal name.

Wreckage thought to be from North Korean missiles was in the debris from strikes in Kharkiv in early January, when it wasn’t likely under Patriot protection. Dmytro Chubenko, a spokesperson for the Kharkiv prosecutor’s office, told reporters the missiles were different in key aspects from Russian models,

Gloom. . .

Continued from A12

hopes on the PBOC’s easing. Yet markets are increasingly searching for countries that offer higher yields, which stand to benefit once a shift to monetary easing kicks off.

China’s benchmark 10-year yield is currently around 2.5 percent, compared with more than 7 percent in India, 9 percent in Mexico and 10 percent in Brazil.

“We are underweight China bonds at this juncture, purely because the

A report by the Center for Strategic and International Studies showed that the US Patriot air defense system has so far been largely effective in countering Russia’s missiles. In June, when Russia tried to take out a Patriot battery protecting Kyiv, the system shot down all of the 34 Iskander and Kinzhal missiles Russia fired, CSIS said. That’s a warning to Putin about the KN-23 and KN-24 missiles Kim is believed to be supplying. and he believed they were from North Korea, the Associated Press reported.

The transfer of such missiles from North Korea, with ranges of 400-800 kilometers (250-500 miles), increases the pool of weapons the Kremlin can draw upon to attack Ukraine as the war grinds on.

Kim, meanwhile, is trying to modernize his arsenal even more. His regime started the year by firing off a new type of warhead it said moves at high speeds and turns in the air, which is mounted on an intermediate-range missile designed to hit all of Japan and US bases in Guam.

Missile barrage

South Korea and Japan both deploy Patriot batteries to protect key areas from the likes of North Korea. South Korean forces operate 8 PAC-2 and PAC-3 batteries around Seoul and US forces operate PAC-3 systems in Japan at US military bases, particularly Okinawa, according to a report from the Arms Control Association.

The Patriot system has a powerful radar that is able to track up to 100 targets including cruise missiles, ballistic missiles and aircraft, according to a report from the Congressional Research Service.

Nevertheless, Russia has used heavy barrages of missiles to overwhelm Ukraine’s defenses. In late December, Russia ramped up its bombardment campaign, firing hundreds of missiles at cities across Ukraine, killing dozens. The US determined Russia probably used North Korean missiles in that attack.

The influx from North Korea will likely draw down the stocks of missiles for Patriot batteries and other air defense systems in Ukraine, in a strategy of attrition that could increase the chances for successful strikes.

As a result, NATO members pledged in January to ramp up production and procurement of 1,000 Patriot missiles to bolster Ukraine’s air defenses, at a cost of $5.5 billion.

“Patriot is the only system that can deal with all types of Russian missiles,” Ukrainian President Volodymyr Zelenskyy said in October when Germany pledged to provide a Patriot battery to protect Ukraine. Now he’ll see if that includes the newer North Korean varieties as well. Bloomberg yields are higher in markets like India and Indonesia, while US Treasury proxies such as Korea bonds are attractive on the view that Treasuries have more upside from current levels,” said Edmund Goh, investment director of Asia fixed income at abrdn Plc. South Korea’s 10-year yields are the most sensitive within emerging Asia to swings in similar-maturity Treasuries, according to a previous analysis by Bloomberg, making the notes a likely candidate to outperform when the Fed embarks on easing. With assistance from Ruth Carson, Tania Chen and Wenjin Lv /Bloomberg

ith the Ease of Paying Taxes Act (EOPT or RA 11976) taking effect, there are a number of changes that taxpayers need to do or implement in compliance with the requirements under the new law. Many of these changes can be easily fulfilled and applied without the need to change the taxpayer’s record keeping, accounting and invoicing systems and procedures. Affected taxpayers will simply follow the new prescribed rules when faced with transactions requiring the application of the new procedures.

However, a few of the changes may necessitate modifications in the existing practices for some taxpayers to be able to carry out or execute the mandate of the new law. These may include modifications or revisions of their existing accounting system, documentation of transactions, and monitoring and reporting procedures, among others.

One of the amendments that may necessarily require adjustments in the taxpayers’ practice is the effect of the harmonization of the rules for sales of goods and services for VAT compliance purposes. This has no significant impact for sellers and buyers of goods. But the shift from the “gross receipts” to “gross sales” as basis for VAT reporting for sellers and buyers of services necessarily needs a shift also in the accounting and documentation of transactions affecting VAT reporting to conform with the new rule.

Note that the move to the “gross sales” basis for VAT reporting does not stop with the proper accounting of every gross sale. Other related subsequent transactions affecting the collectability and ultimately the final amount collected from the customer need to be monitored as well.

For VAT compliance, these also need to be accounted.

Sales allowances and discounts

Sellers of goods were already

allowed to claim the value of goods sold that are subsequently returned or for which allowances are granted by the seller as deduction from gross sales. Also, discounts can be excluded from the gross sales within the quarter it is given. This wasn’t applicable to sellers of services precisely because reporting was required only upon receipt. But with the adoption of the “gross sales” as reference for VAT payment, a similar rule is now incorporated in the VAT compliance rules for sellers of services.

The value of services rendered for which allowances are granted may now be deducted from the gross sales. Similarly, discounts may also be excluded from gross income in the quarter it is given.

Output VAT credit on uncollected receivables

The EOPT added a provision allowing both sellers of goods and services to deduct the output VAT previously paid when the related receivables become uncollected. The deduction shall be done in the next quarter following the lapse of the agreed upon period to pay.

This means that if a seller reports a sale and pays the VAT, the VAT payment can be recovered in the form of an output VAT credit if the related receivable cannot be collected within the period agreed upon by the seller

One of the amendments that may necessarily require adjustments in the taxpayers’ practice is the effect of the harmonization of the rules for sales of goods and services for VAT compliance purposes. This has no significant impact for sellers and buyers of goods. But the shift from the “gross receipts” to “gross sales” as basis for VAT reporting for sellers and buyers of services necessarily needs a shift also in the accounting and documentation of transactions affecting VAT reporting to conform with the new rule.

and the buyer. It is therefore important for the buyer and the seller to agree on the period for payment for purposes of reckoning the period when payment is considered to have lapsed. If not, it would be difficult to fix the time for claiming the output tax credit. The seller may not even be able to claim the credit if there is no such agreement or no proof to that agreement.

Interestingly, this new provision is inserted in the section on tax credits. Thus, unlike sales returns, allowances and discounts which are to be deducted or excluded from gross sales, that is not how output VAT credit on uncollected receivables are to be accounted. These are to be included among the items of tax credits—like input taxes.

Recovery of uncollected receivables

Receivables that cannot be collected within the period agreed upon may actually be collected, partially or in full, in the subsequent period. What happens if the related VAT was already taken up as output VAT credit? While VAT previously paid is allowed to be credited against output taxes if the related receivables are not collected at the time agreed upon, the new law also inserted a provision

requiring the output taxes to be reported back when the receivable is recovered.

Taking all these together, there are four steps in every sale-collection cycle that may have impact on the VAT due from every sale transaction – the sale, the allowances and discounts, the uncollected receivable, and the recovery of a previously reported uncollected receivable.

Based on all these steps, the law intends that the ultimate net basis of the VAT is the amount collected by the seller—the gross receipts—but reported in different steps. That is the ideal scenario. But when I say ideal, the taxpayer has to observe all the conditions and substantiation requirements attached to each step. If not, the taxpayer runs the risk of being effectively subjected to VAT more than what is intended by the law to be the ultimate basis of the tax.

The point is—is it really “ease to the taxpayer” to require the observance of a lot of steps in complying with its VAT obligations versus relying on a single information—the receipts—if the end is the same?

While I end with this question, this is already the law and taxpayers need to observe them. I just hope that the implementing rules will make it easier for compliance so that the intention of unloading the taxpayers of the burdens associated with filing and payment is achieved. Also, the law does not address the steps needed on the part of the buyer. I hope that the implementing rules will address that void.

The author is the Managing Partner of DuBaladad and Associates Law Offices (BDB Law), a member-firm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@bdblaw.com.ph or call 84032001 loc 310.

Charting diplomatic waters: A thoughtful vision for the Philippines in the South China Sea disputes

By Henry Go

I

N acknowledging the intricate challenges posed by the South China Sea disputes, we emphasize the critical need for the Philippines to redefine its diplomatic approach. As tensions mount in this crucial geopolitical arena, the nation’s commitment to fostering stability and safeguarding its sovereign interests is highlighted.

A central theme revolves around advocating for an independent foreign policy, urging the Philippines to liberate itself from dependence on external powers. We delve into nuanced strategies encompassing crisis management communication, mitigation of escalation risks, fostering harmony, and unveiling hidden issues, all aimed at navigating the complexities of the South China Sea and shaping a robust diplomatic future for the Philippines.

Crisis management communication In times of crisis, it is crucial for a nation to possess a well-defined communication strategy, especially when confronted with recent inadvertent statements made by top officials that contradict the government’s position and that of the international community. In such instances, the Department of Foreign Affairs must act swiftly, meticulously crafting public statements—not to apologize, but to maintain a consistent and cohesive narrative, aligning with the official position of the government. This proactive approach ensures the rapid clarification of any misunderstandings that might unintentionally escalate tensions between the Philippines and China, thereby reinforcing the nation’s commit-

Mangun. . .

Continued from A12

uncertainty of the judicial system as a significant barrier to invest-

ment to a unified and coherent foreign policy. To prevent potential complications, it is essential to avoid scenarios where government officials independently issue statements, a situation that could exacerbate the crisis. This diplomatic methodology not only effectively addresses immediate concerns but also serves to enhance the credibility and reliability of the country’s diplomatic communications on the global stage.

approach not only contributes to regional stability but also fortifies the resilience of the Philippines, showcasing a forward-thinking and nuanced diplomatic strategy.

Amid the SCS conflicts, alliances with foreign powers can introduce complications. Rather than projecting a confrontational power play against China, a strategic shift is imperative. Prioritizing collaboration through shared objectives and historical ties becomes paramount, seamlessly aligning with economic diplomacy initiatives. This approach not only underscores the Philippines’s commitment to an independent foreign policy but also highlights diplomatic prowess. It creates a harmonious strategy to navigate the intricate South China Sea landscape, with a focus on economic gain and diplomatic supremacy.

Unveiling hidden issues

IN the realm of SCS diplomacy, a critical imperative is to proactively avoid escalating tensions through threats and provocations. A strategic shift towards exploring alternative dispute resolution methods, placing economic diplomacy at the forefront, is imperative. This multifaceted

IN navigating the intricate landscape of the South China Sea disputes, it is imperative to recognize and address the potential hidden agendas of foreign powers engaging under agreements like MDT, joint military exercises, and maritime patrol. Emphasizing that there is no free lunch in geopolitics and that the concept of permanent friends and enemies is crucial. Moreover, in the event of shifting priorities and perceived diminishing benefits for foreign powers in intervening, a calculated withdrawal becomes plausible, leaving the Philippines to navi-

ment. Investors often decline to file cases in court because of slow and complex litigation processes and corruption fears. Stakeholders report an inexperienced judiciary when confronted with cases

involving complex issues such as technology or science.”

There is the functional, financial, convenience, and perhaps even emotional ‘Pain Point’ for foreign investment that we refuse

Mitigating escalation risks

gate the complexities independently.

Therefore, prioritizing the cultivation of a good neighbor relationship over dependence on distant powerful allies strategically positions the Philippines as a diplomatic actor adept at judiciously managing its dispute with China on SCS. This strategic approach not only underscores the significance of addressing underlying issues but also solidifies the Philippines’ diplomatic acumen in astutely managing its affairs within the intricate dynamics of the South China Sea.

Conclusion

Engaging in peaceful negotiations offers substantial benefits to the Philippines, fostering robust economic growth while preserving its position. This strategy strengthens trade relations, expands market access for Philippine businesses, and stimulates economic growth. A flourishing economy, propelled by enhanced economic ties, is poised to generate higher tax revenues through increased business profits and individual income. As the Philippines navigates the complexities of the South China Sea disputes, strategic diplomatic efforts can facilitate conflict resolution, reshape narratives, and position the country as a diplomatic innovator contributing to regional stability.

These initiatives further enhance the Philippines’ influence in Asean, promoting a more integrated and harmonious Southeast Asia. to address.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

A14 Tuesday, January 23, 2024

NEW SBMA CHIEF ALIÑO VOWS BIZ-FRIENDLY SUBIC CLIMATE

Not Cha-cha: Real crisis is supply of skilled PHL grads

By Andrea E. San Juan @andreasanjuan

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‘HELP ME’: SBMA Chairman and Administrator Eduardo Jose L. Aliño asks for the support of SBMA employees in his first day as agency head.

By Henry Empeño

S

UBIC BAY FREEPORT— Newly-appointed Subic Bay Metropolitan Authority (SBMA) chairman and administrator Eduardo Jose L. Aliño started his first day as head of the Subic agency on Monday by assuring stakeholders that his administration will put in place a more conducive business environment in this free port.

Speaking in a short press conference at the SBMA board of directors’ office following his formal takeover as SBMA chief,

Aliño said he will market Subic as an investment destination with many potentials, good facilities, as well as good governance.

“I have been a salesman all my life,” said Aliño. “I want to sell Subic not only locally, but also internationally. It has the best ports; it has good facilities, and it has good governance,” he added.

Aliño started out as a sales engineer for a wires and cables company in 1972 after graduating from De La Salle University with a BS mechanical engineering degree.

Continued on A5

HILE it is willing to work with proponents of CharterChange, MAP said the bigger issue of the group is to ensure that the country has ample workforce-ready Filipino graduates five to 10 years from now.

“I would like to correct the statement attributed to me; we’re neither for or against it; we’re saying if there would be discussions about Charter-change along the lines of economic provisions, yes we’re willing to engage and work with whoever is pushing it but again, we’re not taking a political statement of sorts,” MAP President Rene Almendras said in a televised interview on Monday.

“Second, I think the bigger issue for us really is we really worry about the situation of the economy relative to the realities that we have today. We worry about what’s going to happen five years from now, are

we still gonna have students? or can the graduates at that time be competitive to . . . what about the regulatory environment or structures?” Almendras said.

The head of MAP expressed concern that the country is “left behind” compared to other countries in terms of the push towards competitiveness. Almendras said, “We don’t mean to point fingers but we need to address issue of how can the Philippines be a more competitive environment?”

Foremost among the issues to focus on is the “challenge” on technology, Almendras noted.

As the world is at the “cusp” of

signifcant changes, the MAP head said the country should brace its workforce as jobs which exist now may evolve around a few years from now, requiring more skills from workers.

“We need to provide jobs, that’s why we’re saying we need to encourage deliberations, discussion on the structures already along the lines of their proper adoption of certain technologies to equip us better,” Almendras said.

In relation to keeping up with the advancement of technologies, he highlighted the business group’s concern about the “present education crisis” in the country, raising the question, “Will the graduates five to 10 years from now be at the quality that will be required to garner high value employment?”

The head of the business group pointed out that the problem goes beyond education, as the root of the crisis in the country could be pointed to the issue of malnutrition.

“When we talk to the teachers, we have a whole group in MAP that’s dealing with this and when they talk to the teachers they said, ‘Oh, it’s not the curriculum. It’s not the teaching style. It’s really the

students are ready or are so malnourished that they cannot absorb knowledge the way they would like to and that’s why we’re working on this massive initiative to try to solve this malnutrition problem,” Almendras said.

Country competitiveness is second on the list of MAP’s priorities for 2024. Under this pillar, Almendras noted that to help improve the global competitiveness of the Philippines, “we will push for vital policy reforms, through executive or legislative action, that will eliminate corruption, improve the ease of doing business, ensure food security through agricultural productivity, and sustain an enabling business environment for local and foreign investors.”

Another thrust of MAP is on Innovation, Technology and Digitization as it recognized the technological developments that threaten jobs and the present workforce.

“We encourage action to prepare for the transitions. It is important that we encourage proper technology adaptation, innovation and digitization to address these evolutionary challenges,” Almendras said in his speech at the recent forum of MAP.

GLAMPING SERENITY Local tourists revel in the breathtaking sunrise view and sea of clouds at the Sierra Madre mountain range, as seen from Pinehills Park in Tanay, Rizal. The allure of eco-tourism has captured the hearts of Filipinos, with many fulfilling their dream destinations from their bucket lists during the pandemic lockdown. BERNARD TESTA

Sophisticated cyber threats to spike in ’24–Kaspersky

By Lorenz S. Marasigan @lorenzmarasigan

K

ASPERSKY’S latest Security Bulletin paints a daunting picture for 2024, forecasting a spike in sophisticated cyber threats and devious tactics on the dark web.

In 2023, Kaspersky found a notable rise in ransomware activities, with monthly blog posts on public platforms and the dark web soaring from an average of 386 in 2022 to 476 in 2023.

November 2023 marked a peak with 634 posts, showcasing an alarming trend in the blackmailing of companies through ransomware blogs.

Another concerning trend is the heightened risk of personal and corporate credential leakage. Last year, Kaspersky said the dark web market experienced a significant increase in stealer malware posts, designed to extract sensitive data for identity theft and financial fraud. The posts offering Redline stealer logs tripled in volume, indicating an escalating

threat to digital security.

According to the Kaspersky Security Bulletin (KSB) this year, there will be “new challenges, including a heightened presence of crypto-drainer services, increased promotion of fraudulent websites through search advertising, and a rise in malicious loaders.”

Kaspersky anticipates several concerning trends in the dark web market.

According to the KSB, cybercriminals are expected to increasingly turn to search engine advertising, employing Google and Bing ads to promote websites embedded with malware.

This shift from reliance on phishing emails to search engine ads is likely to enhance the visibility and effectiveness of these scams.

Additionally, the demand for crypto-drainer services, malicious software engineered for the swift withdrawal of funds from legitimate crypto wallets to those of malicious actors, is also predicted to rise.

The ongoing interest in cryptocurrencies, NFTs, and related digi-

tal assets is expected to drive the proliferation of these drainers, the bulletin showed.

The dark web is also likely to see a growth in services providing antivirus evasion for malware, along with the continuing evolution of “loader” malware services.

Bitcoin mixers, which obfuscate the source of Bitcoin transactions, are anticipated to undergo dynamic market changes, reflecting the fluid nature of the cyber underworld.

“Cybersecurity demands a proactive stance. Monitoring dark web market activities and trends is akin to peering into the enemy’s playbook, allowing early threat detection, understanding adversary tactics, and ensures you’re several steps ahead in terms of cyber defenses. It’s not just about protection; it’s about mastering the evolving threat landscape to fortify against tomorrow’s risks and ensure the resilience of corporate security,” said Sergey Lozhkin, Principal Security Researcher, Global Research and Analysis Team (GReAT) at Kaspersky.

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, January 23, 2024 B1

‘Monde Nissin core income PLDT acquisition of SkyCable gets nod rises on higher 2023 sales’

M

By VG Cabuag

@villygc

onde Nissin Corp. on Monday said its core net income last year likely posted “mid-teens growth” on the back of a single-digit hike in its sales.

The company said its Asia Pacific branded food group saw topline growth both year-overyear and sequentially during the fourth quarter, supported by expansion across all its major categories, particularly in noodles and beverages.

“I am pleased to share that our preliminary fourth quarter results ref lect the continued strength that we saw during the

third quarter driven by our APAC BFB [Asia-Pacific branded food and beverage] business. This led to another all-time high revenue for the quarter and for the year,” Henry Soesanto, the company’s CEO, said.

“For the full year [2023], we expect a high single-digit yearon-year sales growth on a comparable basis and gross margin to be in-line with 2022 margin

as gross margin expansion in APAC BFB was offset by the decline in meat alternative gross margin in 2023,” the company said.

Core net margin in the fourth quarter grew by more than 500 basis points compared to the same period last year, it said.

The company said its noodles market share improved by 140 basis points to 67.3 percent and 380 basis points to 67.5 percent for the past 52-week and 12week periods as of December, respectively.

The fourth quarter sales growth in the domestic business was backed by all-time high volumes, which grew by more than 5 percent year-onyear and 2 percent quarter-onquarter, it said.

“We saw continued margin expansion of over 400 basis

points year-over-year in the fourth quarter. Our commodity lock ins for wheat and palm oil until the second quarter and third quarter of 2024, respectively, are lower by a low doubledigit percentage compared to the same period last year.”

Its veggie meat business, meanwhile, “continues to navigate a challenging environment.”

“We expect a single-digit decline for the fourth quarter.”

The United Kingdom retail market remained weak and continues to affect the topline.

“We anticipate being at least EBITDA [earnings before interest, taxes, depreciation and amortization] neutral in the fourth quarter [of 2023],” it said.

“The annual impairment test [IAS 36] in our meat alternative business is ongoing; however, we also believe the family’s financial support will largely cover any potential impairment at the parent level.”

MGreen completes investment in SPNEC

M

Gen R ene w able Energy Inc. (MGreen), a unit of Manila Electric Co. (Meralco), has completed its P15.9-billion investment in SP New Energy Corp. (SPNEC) and has taken a controlling stake in the solar company.

Late last week, SPNEC received the approval of the Securities and Exchange Commission (SEC) to amend its articles of incorporation and increase in authorized capital stock to 75 billion common shares and 25 billion preferred shares from 50 billion common shares.

The 15.7 billion common shares and 19.4 billion preferred shares were then issued to MGreen.

“With the SEC’s approval and the issuance of these shares, the final conditions for MGreen’s investment have now been satisfied

and MGreen is now the controlling shareholder of SPNEC with a total voting interest of 50.5 percent,” the company said.

The increase in authorized capital stock also enables SPNEC to pursue further fundraising exercises, including a possible followon offering, the company said.

Proceeds from MGreen’s investment and other fundraising exercises will be used for the P200billion Terra Solar project.

The company had disclosed that the project will be funded from a combination of capital infusion, which includes the investment of MGreen, and project financing.

SPNEC’s project consists of 3,500 megawatts of solar panels and 4,000 MWh. The project is now 100 percent owned by the company.

Its board of directors recently

approved the election of businessman Manuel V. Pangilinan as its chairman, president and CEO, while Leandro Antonio L. Leviste will serve as the company’s vice chairman.

The company also appointed Amanda Roselle A. Bengson as director, chief compliance officer, and corporate secretary; Pedro Emilio O. Roxas as independent director; Dominador M. Camu Jr. as COO; Anthony Matthew N. Co as assistant treasurer; and Jo Marianni P. Ocampo as assistant corporate secretary.

MGreen is the renewable energy development arm of Meralco Powergen Corp., a wholly-owned subsidiary of Meralco.

SPNEC, meanwhile, is the developer of a planned 3.5 GW solar and 4.5 GWh battery project

Board of Philexport gets 2-year term

T

he 17 trustees on the Philippine Exporters Confederation Inc. (Philexport) board led by its president, Dr. Sergio Ortiz-Luis Jr., have obtained a fresh mandate from members for another two-year term to set the policy and program direction for the country’s largest export trade group.

Reelected as Philexport Board of Trustees were Ortiz-Luis for resource-based sector; Oscar Barrera, chemicals sector; William Tiu Lim, food; Ferdinand Ferrer, electronics; William Co, associate; George Barcelon, footwear, leather and travel goods; Robert Young, textiles; and Myrna Bituin, furniture, during the organization’s general membership meeting on January 16.

Jon Mykel Teodoro a lso remained the information technology, products and services industry’s representative to the group; Bernardo Benedicto III for metals sector; Apolinar Suarez Jr., non-metals; Cecilia Ramos, fashion accessories and jewelry; Enunina Mangio, associate; Mina Gabor, tourism; Diana Santos, garments; Mila Lacson, holiday decors, gifts and premiums; and Bryan Ang, automotive parts and components.

A ng replaced father Francis Chua.

Reelected cor porate officers were led by chairman Co. New in the officers list is vice chair Ferrer, replacing Co who is now the chair.

The list also included Bernardo Benedicto, treasurer; and Apolinar Aure, Corporate Secretary.

Philexport Board of Trustees 2024-2025 (standing from left): Oscar A. Barrera, Chemicals Sector; Bryan Ang, Automotive and Automotive Parts and Components; William Tiu Lim, Food; Ferdinand A. Ferrer, Electronics; William S. Co, Associate, Dr. Sergio Ortiz-Luis Jr., Resource-based; George T. Barcelon, Footwear, Leather and Travelgoods; Robert M. Young, Textiles; Jon Mykel V. Teodoro, Information Technology, Products and Services; Bernardo T. Benedicto lll, Metals and Apolinar G. Suarez Jr. , Non-Metals. (Seated from left): Cecilia R. Ramos, Fashion Accessories and Jewelry; Enunina V. Mangio, Associate; Mina T. Gabor, Tourism; Diana H. Santos, Garments; Mila L. Lacson, Holiday Decors, Gifts and Premiums and Myrna C. Bituin, Furniture. Not in photo is Apolinar Aure for the housewares sector.

Ortiz-Luis said that as they move forward from the election, Philexport reiterates and renews its commitment to be an advocate and facilitator of positive developments for the industry, the organization and the country.

He said the group estimates exports will still grow 5 percent this year, fueled by services led by travel and information technology and business process management (ITBPM).

This, after exports sagged 13.7 percent to $6.13 billion in November 2023 from 4.1 percent contraction in October and 0.6 percent in September, government data showed.

Ortiz-Luis cited global headwinds that continued to affect demand from major trading partners,

particularly the United States and China.

“Part of the needed reforms to help boost exports includes making the country an attractive investment destination, which as we are experiencing, is not only a matter of passing laws,” he added.

Ortiz-Luis said the countr y needs to address the volatile exchange rate which hurts exporters and overseas Filipino workers, as it steps up to save its export-oriented manufacturing sector.

He also acknowledged that other factors are critical, including labor productivity and electricity costs which currently comprise 20 percent to 60 percent of production cost, as well as addressing the cost and ease of doing business issues.

centered in Nueva Ecija, which would be the world’s largest single contracted solar project. It is currently majority-owned

by Leviste’s Solar Philippines, prior to MGreen’s entry. VG Cabuag

By Lorenz S. Marasigan @lorenzmarasigan

T

he Philippine Competition Commission (PCC) has approved the sale of SkyCable Corp. to PLDT Inc. In separate filings, PLDT Inc. and ABS-CBN Corp., the parent company of Sky, said the antitrust body has “allowed the sale of the broadband business and related assets of SkyCable Corp. to PLDT inc.via the sale of 100 percent of Sky’s total issued and outstanding capital stock.”

The transaction, however, is “still subject to other closing conditions.”

“Until all closing conditions are fulfilled, the Proposed Transaction will not be implemented,” their disclosures read.

To recall, PLDT attempted to buy SkyCable in 2022 when its subsidiary Cignal Cable Corp. proposed a P2.86-billion investment in the Lopez-led cable TV operator.

In 2023, the Pangilinan-led telco entered into a share and purchase agreement with Sky Vision Corp., ABS-CBN, and Lopez Inc. to acquire their shares in SkyCable for P6.75 billion.

The deals did not push through due to competition issues.

PLDT had said the transaction is in line with its goal to “narrow the digital divide,” explaining that the transaction will “benefit the existing broadband subscribers of both PLDT and Sky.” By merging their operations, PLDT and Sky will be able to “strengthen and expand” the coverage of their services, reach remote areas, and upgrade customer experience.

In March 2023, the PCC said it will monitor the transaction as its mandate “is to evaluate the effect of acquisitions in relevant markets and its effects on consumers, such as whether the transaction will result in fewer choices and lesser competition.”

B2

Companies BusinessMirror

Tuesday, January 23, 2024

PSE STOCK QUOTATIONS

January 22, 2024

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

33.55 140.2 6.51 106.2 31.45 8.67 56.7 8.75 18.76 55 71.9 43.35 1.19 2.57 2.65 0.38 177 2,550 0.77

34 140.6 6.85 106.5 31.55 8.73 56.9 8.84 18.78 55.7 72 43.4 1.2 2.58 2.71 0.4 177.1 2,650 0.81

33.55 137.1 6.84 106.6 31.45 8.8 56.25 8.75 18.74 55.5 71.9 43.5 1.3 2.58 2.7 0.4 177 2700 0.8

33.55 140.6 6.9 107.5 31.55 8.8 56.9 8.75 18.76 55.7 72.5 44.6 1.3 2.58 2.7 0.4 177.2 2,700 0.82

33.55 137.1 6.5 105.8 31.45 8.67 55.95 8.75 18.74 55.5 71.9 43.3 1.2 2.58 2.7 0.4 177 2,650 0.8

33.55 140.6 6.5 106.5 31.55 8.67 56.9 8.75 18.76 55.7 71.9 43.35 1.2 2.58 2.7 0.4 177 2,650 0.82

700 3,585,360 6,300 1,671,650 24,000 88,500 2,466,100 115,600 9,300 150 69,130 208,300 441,000 11,000 3,000 100,000 1,060 10 59,000

23,485 502,004,235 41,710 177,826,886 755,920 771,846 139,644,978 1,011,500 174,454 8,351 4,976,852 9,073,040 533,280 28,380 8,100 40,000 187,692 26,750 48,340

143,185,303 (13,680) (27,326,354) 68,517,782.5 (3,652,406.5) (2,708,630) (12,000) (111,529) -

INDUSTRIAL

ACEN CORP 4.07 4.1 4.14 4.2 4.06 4.07 13,252,000 54,216,740 (12,422,490) ALSONS CONS 0.54 0.55 0.53 0.54 0.5 0.54 7,579,000 4,070,860 0.72 0.74 0.73 0.74 0.72 0.74 1,061,000 774,160 (172,280) ALTERNERGY HLDG 37.75 38 37.8 38.05 37.5 38 504,100 19,123,315(6, 465,940.0003) ABOITIZ POWER RASLAG 1.18 1.23 1.23 1.23 1.23 1.23 11,000 13,530 0.188 0.19 0.19 0.19 0.188 0.188 450,000 85,050 BASIC ENERGY FIRST GEN 18 18.02 17.86 18 17.74 18 347,800 6,240,290 2,023,200 FIRST PHIL HLDG 63.5 63.8 63.5 63.5 63.5 63.5 20,680 1,313,180 383.6 385 378 385 377.4 385 249,320 95,169,646 17,623,258 MERALCO 18.52 18.54 18.5 18.8 18.5 18.54 2,889,500 53,884,258(1, 171,506.0001) MANILA WATER 3.32 3.33 3.4 3.41 3.33 3.33 991,000 3,314,730 6,800 PETRON PHX PETROLEUM 4.15 4.6 4.2 4.85 4.1 4.6 89,000 375,300 REPOWER ENERGY 7.3 7.5 7.71 7.71 7.2 7.5 44,100 327,208 (5,285) 31.5 31.6 31.25 31.75 31.25 31.5 1,003,700 31,626,535 (2,114,530) SEMIRARA MINING 7.75 7.78 7.79 7.94 7.7 7.78 789,900 6,181,827 (840,731) SYNERGY GRID SHELL PILIPINAS 10.82 10.88 10.9 10.9 10.8 10.82 14,100 152,812 (4,352) SPC POWER 7 7.1 7.09 7.09 7 7 120,000 843,193 700 1.23 1.24 1.22 1.24 1.21 1.24 14,519,000 17,931,650 11,095,280 SP NEW ENERGY 0.66 0.67 0.68 0.68 0.66 0.66 895,000 598,380 (189,680) AGRINURTURE AXELUM 2.06 2.26 2.29 2.29 2.23 2.26 46,000 104,910 34.8 34.9 34.1 35.2 34.1 34.8 3,458,800 120,321,145 6,141,440 CENTURY FOOD 6.05 6.1 6.1 6.23 6.05 6.05 32,700 198,702 (196,262) DEL MONTE 6.59 6.6 6.53 6.62 6.53 6.6 644,200 4,250,777 (1,751,604) DNL INDUS EMPERADOR 20.95 21 21 21.15 20.95 21 893,500 18,761,260 (10,300,050) SMC FOODANDBEV 48.55 48.7 48.6 48.9 48.4 48.7 88,700 4,318,490 (2,755,525) 0.63 0.64 0.63 0.64 0.62 0.64 2,662,000 1,671,430 498,830 FIGARO COFFEE 0.82 0.83 0.83 0.83 0.82 0.82 493,000 406,460 FRUITAS HLDG GINEBRA 163 164 166.2 166.2 163 164 1,530 250,452 (95,120) JOLLIBEE 259.8 262 266 266 259 259.8 548,260 143,111,072 (75,376,032) 1.43 1.44 1.45 1.45 1.41 1.44 2,131,000 3,034,240 KEEPERS HLDG MACAY HLDG 6 6.29 6.12 6.12 6.1 6.1 6,000 36,680 MAXS GROUP 3.3 3.35 3.27 3.3 3.27 3.3 140,000 461,190 (88,820) 8.3 8.32 8.17 8.3 8.17 8.3 1,929,100 15,945,409 (5,856,995) MONDE NISSIN 10.4 10.5 10.4 10.4 10.08 10.4 78,500 816,368 520,000 SHAKEYS PIZZA ROXAS AND CO 0.435 0.45 0.435 0.435 0.435 0.435 80,000 34,800 RFM CORP 2.89 2.9 2.9 2.93 2.9 2.9 9,036,000 26,210,050 (2,777,810) 0.058 0.064 0.064 0.064 0.064 0.064 70,000 4,480 SWIFT FOODS UNIV ROBINA 113.5 114 114.9 116 113.4 113.5 1,445,790 164,788,717 (102,729,032) VITARICH 0.5 0.51 0.52 0.52 0.49 0.5 323,000 161,610 490 VICTORIAS 2.88 3.06 3 3 2.88 2.88 46,000 135,960 (36,960) CEMEX HLDG 0.91 0.92 0.95 0.95 0.91 0.92 133,000 123,390 0.66 0.69 0.66 0.69 0.65 0.69 132,000 87,840 (11,730) EC VULCAN CORP 6.1 6.11 6.12 6.12 6.03 6.1 225,700 1,374,320 EEI CORP MEGAWIDE 3.3 3.31 3.3 3.38 3.3 3.31 475,000 1,581,480 (30,180) 19.8 20.2 20 20 20 20 15,000 300,000 PHINMA CROWN ASIA 1.55 1.58 1.58 1.58 1.55 1.55 43,000 67,640 PRYCE CORP 5.22 5.24 5.24 5.24 5.22 5.22 30,700 160,568 0.24 0.243 0.241 0.243 0.24 0.24 2,370,000 569,740 50,610 GREENERGY 2.52 2.55 2.55 2.6 2.52 2.52 551,000 1,416,820 (1,036,950) INTEGRATED MICR IONICS 1.09 1.1 1.09 1.09 1.07 1.09 488,000 529,590 (125,240) 2.4 2.43 2.31 2.44 2.31 2.43 699,000 1,686,180 (138,600) SFA SEMICON CIRTEK HLDG 1.89 1.91 1.94 1.94 1.91 1.92 327,000 626,980 292,210

HOLDING & FRIMS

ABACORE CAPITAL 1.07 1.08 1.09 1.1 1.07 1.08 1,623,000 1,759,220 163,500 AYALA CORP 685 691 677 692 677 691 289,890 198,848,795 (70,804,945) ABOITIZ EQUITY 48.6 49 48.8 49 48.4 49 549,800 26,930,875 10,046,600 ALLIANCE GLOBAL 11.58 11.6 11.66 11.68 11.56 11.6 1,998,100 23,178,468 1,918,078 11.6 11.98 11.52 11.52 11.52 11.52 1,000 11,520 ANSCOR ANGLO PHIL HLDG 0.39 0.42 0.39 0.39 0.39 0.39 20,000 7,800 0.38 0.39 0.38 0.38 0.38 0.38 500,000 190,000 ATN HLDG A COSCO CAPITAL 4.83 4.87 4.85 4.89 4.83 4.87 20,280,000 98,360,910 (874,720) DMCI HLDG 10.42 10.44 10.2 10.42 10.14 10.42 8,379,600 86,807,750 (9,848,228) 5.55 5.59 5.55 5.55 5.55 5.55 100 555 FILINVEST DEV GT CAPITAL 642 642.5 611 642 610.5 642 407,430 258,853,385 78,277,610 JG SUMMIT 38.65 38.95 38.8 38.95 38.05 38.95 671,000 25,964,500 (3,868,680) 0.415 0.42 0.42 0.39 0.41 250,000 98,700 4,200 LODESTAR 4.28 4.36 4.26 4.26 4.25 4.26 101,000 429,420 4,250 LOPEZ HLDG LT GROUP 9.1 9.15 9.17 9.17 9.1 9.1 1,212,800 11,078,619 (4,193,699) 1.41 1.5 1.5 1.5 1.5 1.5 6,000 9,000 PACIFICA HLDG PRIME MEDIA 2.67 2.72 2.65 2.72 2.65 2.72 4,000 10,700 SOLID GROUP 0.95 0.99 0.94 0.99 0.94 0.99 21,000 19,790 10,340 SM INVESTMENTS 883 883.5 884 885 872.5 883 181,590 160,166,275 24,919,730 117.6 118 120.2 120.4 117.3 118 74,130 8,774,147 (4,039,248) SAN MIGUEL CORP SEAFRONT RES 1.34 1.7 1.7 1.7 1.7 1.7 1,000 1,700 TOP FRONTIER 99 101.9 98 102 98 99 160 16,100 0.27 0.275 0.27 0.27 0.27 0.27 530,000 143,100 WELLEX INDUS ZEUS HLDG 0.076 0.082 0.077 0.077 0.076 0.076 500,000 38,100

PROPERTY ARTHALAND CORP 0.42 0.435 0.42 0.42 0.42 0.42 20,000 8,400 33.2 33.35 32.4 33.35 32.4 33.35 7,474,700 247,346,950 62,294,015 AYALA LAND AYALA LAND LOG 1.76 1.78 1.74 1.78 1.74 1.76 278,000 491,640 3,520 ALTUS PROP 8.98 9.39 8.98 8.98 8.98 8.98 2,300 20,654 1.13 1.15 1.17 1.19 1.13 1.15 4,770,000 5,492,480 2,320 ARANETA PROP AREIT RT 34 34.1 34.1 34.15 33.95 34 626,100 21,307,495 (9,635,480) A BROWN 0.65 0.66 0.64 0.65 0.64 0.65 105,000 68,200 (61,800) 0.69 0.72 0.69 0.69 0.69 0.69 44,000 30,360 CITYLAND DEVT CROWN EQUITIES 0.065 0.071 0.065 0.071 0.065 0.071 50,000 3,310 CEB LANDMASTERS 2.61 2.63 2.63 2.64 2.6 2.61 219,000 571,980 265,200 0.27 0.275 0.265 0.275 0.265 0.275 140,000 38,000 CENTURY PROP CITICORE RT 2.68 2.69 2.69 2.69 2.67 2.69 1,397,000 3,750,090 717,860 7.72 7.85 7.88 7.88 7.69 7.85 24,600 192,695 (4,335) DOUBLEDRAGON 1.23 1.24 1.23 1.25 1.22 1.23 1,028,000 1,270,740 (3,690) DDMP RT DM WENCESLAO 5.71 5.99 5.99 5.99 5.99 5.99 25,300 151,547 0.122 0.124 0.121 0.125 0.121 0.125 980,000 119,360 EMPIRE EAST EVER GOTESCO 0.275 0.285 0.285 0.285 0.28 0.285 310,000 87,850 (59,849.9998) FILINVEST RT 3.1 3.18 3.1 3.19 3.1 3.1 580,000 1,814,180 40,360 0.66 0.67 0.66 0.68 0.66 0.67 1,189,000 792,390 45,770 FILINVEST LAND 8.7 8.93 8.98 8.98 8.7 8.96 800 7,041 8990 HLDG PHIL INFRADEV 0.53 0.54 0.53 0.54 0.53 0.53 117,000 63,000 0.75 0.76 0.76 0.76 0.76 0.76 28,000 21,280 CITY AND LAND MEGAWORLD 1.97 1.98 1.99 2 1.97 1.97 16,416,000 32,454,180 (2,025,180) MRC ALLIED 1.46 1.5 1.45 1.56 1.4 1.5 2,086,000 3,079,660 14.02 14.08 13.94 14.08 13.9 14.08 551,900 7,736,002 3,887,176 MREIT RT PREMIERE RT 1.52 1.53 1.55 1.55 1.53 1.53 113,000 173,230 1,550 RL COMM RT 5.4 5.42 5.31 5.42 5.3 5.42 10,977,300 58,502,721 2,264,272 16.16 16.5 15.9 16.5 15.9 16.5 10,028,400 165,285,850 (50,845,228) ROBINSONS LAND PHIL REALTY 0.153 0.175 0.16 0.17 0.16 0.17 1,060,000 175,650 ROCKWELL 1.42 1.47 1.45 1.47 1.43 1.45 112,000 162,440 3.89 3.92 3.9 3.92 3.9 3.92 149,000 582,710 SHANG PROP STA LUCIA LAND 3.35 3.41 3.4 3.41 3.4 3.41 10,000 34,040 SM PRIME HLDG 33 33.2 33 33.2 32.85 33 6,844,500 225,983,785 (32,160,905) 2.31 2.38 2.3 2.3 2.3 2.3 61,000 140,300 (4,600) VISTAMALLS SUNTRUST RESORT 0.76 0.82 0.82 0.82 0.8 0.8 52,000 41,940 1.76 1.77 1.77 1.78 1.75 1.76 2,137,000 3,775,870 (2,309,890) VISTA LAND 1.74 1.75 1.74 1.75 1.73 1.75 1,357,000 2,367,540 (175,000) VISTAREIT RT

www.businessmirror.com.ph

CPG set to launch projects in Mandaluyong, Pampanga

R

By VG Cabuag

@villygc

eal estate developer Century Properties Group Inc. (CPG) on Monday said it will launch two projects in the first half of 2024.

First to be launched during the first quarter, is the Hotel Residences at Acqua in Mandaluyong City, leveraging the success of Acqua Private Residences.

T his project offers move-in ready, hotel-fitted and fully furnished suites, the company said.

Acqua Private Residences offers amenities, including the Pebble, a waterfront clubhouse on the 4th floor that houses Acqua’s state-ofthe-art Fitness Center. It has gym that have the TRX (total resistance exercise) areas, weights and cardio sections, and an indoor garden.

The third floor has a lap pool, whirlpool bath, lagoon and kiddie pool, outdoor basketball and volleyball courts, and locker and shower rooms. The second floor is dedicated to a big play area and a library tailored for children.

The second project is the company’s its first mid-rise 12-storey residential development at Azure North in San Fernando, Pampanga, The first tower will offer 375 units.

T he development w i l l have multi-feature water-park amenities.

“Century Properties continues

Supermarkets turn to AI to sell near-expired goods

S

upermarkets are missing out on untapped revenue from selling food that’s about to expire, as store workers waste hours searching for short-dated products and discounting them by hand.

At least that’s the pitch from Too Good To Go, an eight-year-old Danish company that cut its teeth addressing restaurant food waste and is now turning to grocery stores’ soon-to-expire goods. Starting this month, TGTG is selling an artificialintelligence-powered solution that assists supermarkets with expiration dates, which are a major pain point for retail food waste. The company will begin its global rollout with the international supermarket chain SPAR. SERVICES ABS CBN 4.98 4.99 5.19 5.19 4.9 4.99 1,128,300 5,743,964 “Every day across grocery stores, 8.82 8.89 8.89 8.9 8.8 8.89 791,800 7,012,183 GMA NETWORK GLOBE TELECOM 1,748 1,750 1733 1,756 1,733 1,750 70,205 122,618,585 70,597,830 staff go around and very manually go PLDT 1,281 1,296 1270 1,296 1,270 1,296 55,650 71,731,580 6,840,980 0.013 0.014 0.014 0.014 0.013 0.014 5,300,000 71,800 (1,400) APOLLO GLOBAL through all the different products to CONVERGE 8.76 8.84 8.79 8.97 8.72 8.84 2,108,000 18,611,503(7, 604,079.9996) DFNN INC 3 3.08 3.07 3.07 3.07 3.07 21,000 64,470 9,210 check if anything is about to run out of 2.4 2.41 2.45 2.48 2.39 2.41 2,155,000 5,195,590 (540,240) DITO CME HLDG NOW CORP 1.16 1.17 1.15 1.18 1.15 1.17 471,000 544,410 (91,999.9999) TRANSPACIFIC BR 0.133 0.134 0.132 0.133 0.132 0.133 270,000 35,790 date,” TGTG Chief Executive Officer 15.76 16 16 16 16 16 20,000 320,000 ASIAN TERMINALS CHELSEA 1.48 1.55 1.47 1.55 1.47 1.55 472,000 718,370 Mette Lykke said in an interview with 32.9 32.95 33.1 33.1 32.5 32.95 106,100 3,485,920 ( 724,355.0001) CEBU AIR 239.4 241 239.6 242.8 239 241 713,470 171,499,398 (41,799,256) INTL CONTAINER Bloomberg Green. Lykke described LBC EXPRESS 15.3 17.92 17.96 17.96 17.92 17.92 300 5,382 4.05 4.1 4.12 4.12 4.05 4.1 448,000 1,824,710 422,339.9999 MACROASIA this as a time-consuming process 5.21 5.22 5.16 5.5 5.16 5.22 17,100 91,737 (29,150) PAL HLDG HARBOR STAR 0.81 0.83 0.86 0.86 0.81 0.81 356,000 291,430 1.81 1.89 1.81 1.81 1.81 1.81 4,000 7,240 ACESITE HOTEL that’s prone to errors: Short-dated BOULEVARD HLDG 0.062 0.065 0.062 0.065 0.062 0.065 5,480,000 344,860 DISCOVERY WORLD 1.21 1.37 1.15 1.35 1.15 1.35 22,067,000 25,402,000 (25,229,690) products are often spotted too late, 0.4 0.41 0.4 0.4 0.4 0.4 1,070,000 428,000 WATERFRONT FAR EASTERN U 563.5 593.5 594.5 594.5 594.5 594.5 220 130,790 and discounts meant to encourage IPEOPLE 7.25 7.35 7.35 7.35 7.3 7.3 14,400 105,340 0.56 0.57 0.54 0.57 0.54 0.56 5,302,000 2,943,230 1,726,520 STI HLDG purchasing leave potential revenue BELLE CORP 1.16 1.17 1.16 1.17 1.14 1.17 1,232,000 1,418,060 (275,220) BLOOMBERRY 10.26 10.28 10.12 10.26 10.04 10.26 10,378,000 105,407,942 19 ,552,344.0004 4.58 4.6 4.46 4.64 4.45 4.6 1,255,000 5,680,780 (419,940) PACIFIC ONLINE on the table, she said.

PH RESORTS GRP 0.83 0.84 0.82 0.85 0.82 0.83 1,062,000 881,500 8,300 PREMIUM LEISURE 0.66 0.67 0.68 0.68 0.67 0.67 2,583,000 1,736,400 TGTG’s software factors in cus7.6 7.63 7.6 7.72 7.6 7.6 651,400 4,976,165 191,874 DIGIPLUS PHILWEB 1.82 1.88 1.82 1.88 1.82 1.88 397,000 743,110 (1,820) tomer behavior, seasonality and ALLDAY 0.159 0.16 0.159 0.161 0.159 0.159 2,360,000 376,160 1.13 1.14 1.15 1.16 1.12 1.13 1,196,000 1,350,770 (35,389.9997) ALLHOME other considerations to estimate how METRO RETAIL 1.26 1.3 1.3 1.3 1.25 1.3 38,000 47,890 (27,250) 28.6 28.65 28.35 28.7 28.1 28.65 1,133,200 32,277,920 8,174,055 PUREGOLD 35.75 35.8 36.7 36.9 35.75 35.8 1,107,100 39,820,460 (26,335,085) ROBINSONS RTL likely a product is to sell in a store at PHIL SEVEN CORP 76.1 76.15 78.6 79 76.05 76.1 199,110 15,272,342.5 (105,076.5) 2.65 2.66 2.62 2.66 2.62 2.65 1,280,000 3,370,380 SSI GROUP any given time, then suggests a disUPSON INTL CORP 1.31 1.46 1.49 1.49 1.49 1.49 2,000 2,980 (2,980) WILCON DEPOT 21.85 22 22 22 21.8 22 282,300 6,204,665 (183,305) count rate as the item approaches its 0.216 0.224 0.225 0.225 0.216 0.225 40,000 8,910 APC GROUP MEDILINES 0.31 0.315 0.31 0.31 0.31 0.31 10,000 3,100 (3,100) expiration date. The tool also helps PRMIERE HORIZON 0.173 0.176 0.172 0.175 0.172 0.175 1,020,000 177,390 20 4.21 4.43 4.44 4.44 4.21 4.35 50,000 212,560 SBS PHIL CORP workers track expiry dates such that MINING & OIL ATOK 4.65 4.94 4.61 4.99 4.61 4.65 4,600 22,637 staff only need to manually check 2.85 2.86 2.92 2.92 2.86 2.86 978,000 2,819,380 95,700 APEX MINING ATLAS MINING 3.31 3.49 3.31 3.49 3.3 3.49 108,000 357,100 1 percent to 7 percent of products, BENGUET A 4.68 4.69 4.72 4.72 4.69 4.69 643,000 3,023,190 2.11 2.14 2.07 2.14 2.07 2.14 696,000 1,479,830 745,580 FERRONICKEL Lykke said. And it flags when food GEOGRACE 0.038 0.039 0.035 0.038 0.035 0.038 1,100,000 40,600 LEPANTO A 0.075 0.078 0.076 0.078 0.076 0.078 220,000 16,940 LEPANTO B 0.073 0.075 0.066 0.075 0.066 0.075 1,600,000 117,850 (3,750) could be donated or sold at a steep 0.0045 0.0046 0 0.0044 0.0045 0.0044 0.0045 5,000,000 22,300 MANILA MINING B MARCVENTURES 0.8 0.81 0.85 0.85 0.79 0.8 2,075,000 1,680,530 30,920 discount through Too Good To Go’s 0.495 0.58 0.58 0.58 0.58 0.58 1,000 580 NIHAO NICKEL ASIA 4.76 4.88 4.7 4.88 4.7 4.88 1,621,000 7,786,490 1,419,890 eponymous app.

ORNTL PENINSULA 0.63 0.65 0.63 0.65 0.62 0.65 95,000 59,960 (1,300) 3.12 3.15 3.18 3.18 3.11 3.12 688,000 2,145,340 PX MINING The company trialed its new ENEX ENERGY 4.75 4.8 4.75 4.75 4.75 4.75 9,000 42,750 ORNTL PETROL A 0.0079 0.0081 0.008 0.008 0.008 0.008 7,000,000 56,000 PHILODRILL 0.0077 0.008 0.008 0.008 0.008 0.008 1,000,000 8,000 tool with a supermarket chain in PXP ENERGY 3.87 3.88 3.85 3.92 3.85 3.88 59,000 228,640 France, where large grocery stores PREFFERED

HOUSE PREF B 100 101 101 101 101 101 90 9,090 have since 2016 been banned from ACEN PREF A 1,050 1,085 1050 1,050 1,050 1,050 80 84,000 ACEN PREF B 1,070 1,079 1080 1,080 1,079 1,079 1,005 1,084,755 throwing away unused food that 2,486 2,506 2506 2,506 2,506 2,506 15 37,590 AC PREF AR AC PREF B2R 494 495 494 494 494 494 190 93,860 97 98 98 98 96.9 96.9 1,700 166,050 BRN PREF A could be donated. The grocer, which DD PREF 94.5 95 95 95.3 95 95 11,480 1,091,224 EEI PREF B 96.5 97 96.95 96.95 96.95 96.95 1,350 130,882.5 TGTG did not name, had been disGTCAP PREF B 951 970 950.5 950.5 950.5 950.5 100 95,050 JFC PREF A 961 999.5 961 961 961 961 500 480,500 counting its cheeses by 50 percent 93.3 94 93 94 93 93.3 10,810 1,005,930 MWIDE PREF 4 PCOR PREF 3A 991 992 991.5 991.5 991.5 991.5 190 188,385 nationwide when they got within PCOR PREF 4A 975 1,009 1009 1,009 980 1,000 1,270 1,250,090 PCOR PREF 4C 990 1,000 1000 1,000 1,000 1,000 275 275,000 SMC PREF 2F 72.75 73.1 72.4 73 72.4 73 521,280 37,743,246 two days of their expiration date.

72 72.75 72.8 72.8 71 71 348,710 25,212,903 SMC PREF 2I SMC PREF 2J 69.4 72.75 73.9 73.9 73 73 110 8,039 Now the store varies discounts SMC PREF 2K 69.8 71 69.6 69.65 69.6 69.65 1,000 69,625 78 78.5 78 78.5 78 78 5,540 432,140 SMC PREF 2L based on region and time of year.

SMC PREF 2O 78.2 78.3 78.25 78.3 78.15 78.3 7,750 606,281.5 TECH PREF B2D 48.3 48.5 48.5 48.5 48.5 48.5 2,200 106,700 In Normandy, for example, people PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 4.7 4.9 4.9 5 4.9 4.9 18,000 88,300 (9,800) buy more Camembert in the sumGMA HLDG PDR 8.27 8.96 8.24 8.3 8.24 8.25 7,100 58,618 (7,470)

mer; while in the Alps, Swiss cheese WARRANTS TECH WARRANT 0.285 0.31 0.265 0.31 0.265 0.31 80,000 22,700 sells easily on cold winter days when

SMALL & MEDIUM ENTERPRISES raclette (a local dish) is on the menu BALAI FRUITAS 0.41 0.425 0.43 0.43 0.43 0.43 20,000 8,600 CTS GLOBAL 0.73 0.75 0.74 0.75 0.73 0.75 365,000 268,780 HAUS TALK 0.95 0.96 0.96 0.96 0.96 0.96 101,000 96,960 (960) in many homes.

0.62 0.67 0.67 0.67 0.61 0.67 202,000 125,520 9,300 ITALPINAS 1.01 1.02 1.02 1.03 1.01 1.01 405,000 410,470 (8,020) MERRYMART Inflation is driving up demand XURPAS 0.245 0.275 0.255 0.275 0.25 0.275 710,000 183,250 (103,500)

for cheaper short-dated goods, said EXHANGE TRADE FUNDS FIRST METRO ETF 103.8 104 102.9 104 102.9 104 18,240 1,889,765 (128,824) Jorgen Dejgaard Jensen, a profes-

sor at the University of Copenhagen who researches the economy of food waste. Supermarkets are also increasingly focused on using discounts and promotions of near-expired products to limit food waste and bolster their bottom line.

“If supermarkets don’t have to spend too many resources on selling the food at a discount, then it’s a better business for them,” Jensen said, though he noted the risk of near-expired food ultimately being trashed at home instead.

No matter where it’s thrown out, food waste has environmental implications. The United Nations estimates about 30 percent of food produced for consumption is wasted globally, accounting for 8 percent to 10 percent of greenhouse gas emissions. Food waste can also cut into earnings: Trashed food costs supermarkets around 1.6 percent of net sales, on average, according to the European Retail Institute — a notable haircut in an industry known for low profit margins.

“Of course, it’s a bad user experience if you buy something that’s past its expiry date,” Lykke said. “But the financial implications for supermarkets of food waste are also quite significant.”

Since late 2015, Too Good To Go has been addressing food waste through its app, which connects consumers in the US, Canada and 15 European countries with restaurants, bakeries and grocers looking to part with unsold food. (Grocers are now its biggest partner segment.) The app’s 85 million users can purchase a “surprise bag” from brands such as Starbucks, Pret A Manger and Carrefour for about $5 to $10, roughly a third of what the contents would otherwise cost. TGTG recently launched a limited rollout of “magic parcels” sold straight from manufacturers such as Unilever.

Still, much of the world’s $1 trillion food waste problem happens at home. In the United States and Europe, households are responsible for over half of wasted food. Expiry dates play a role here, too: Many people confuse use-by labels, which indicate when a food is no longer safe to eat, with best-before labels, which indicate optimal quality.

“Consumers mix them up,” Lykke said. “Just to be safe, they will throw away the product when it hits the date given.” Regulators could do more to clarify what those labels mean, she said. Bloomberg News

to deliver more than just homes to Filipinos. We take to heart their dreams and deliver amenities to match their aspired lifestyle. With these upcoming projects, Century Properties Group is poised to further redefine and elevate the real estate landscape in the Philippines,” the company said.

Azure North emerges as a resortinspired residential development in the heart of Pampanga. Building on the success of Azure Urban Resort Residences in the South in Paranaque, Azure North aims to extend the allure of a coastal haven to more Filipino condo buyers.

The company said a “standout feature” of Azure North is its urban manmade beach, a white sand beach lagoon, wave and lap pools, and an exclusive Azure Beach Clubhouse.

With the recent completion of the Skyway extension, Azure North is now

mutual funds

only a 90-minute drive from Makati.

The development offers other amenities such as a gym and a rooftop deck providing a view of Pampanga.

The company said last November 2023 that it expects to perform better this year as its affordable housing business continues to exhibit rapid growth.

Century Properties President and CEO Marco R. Antonio reported that the company recorded revenues of close to P10 billion and net income of P1.3 billion in January to September 2023.

The higher revenues came on the back of the steady rise in the contribution of the company’s first-home residential developments segment amounting to P5.3 billion or 55 percent of total revenues, an increase of 28 percent from P4.2 billion in the comparative period of 2022.

January 22, 2024

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities (shares) ALFM Growth Fund, Inc. -a 211.56 -4.57% -2.28% -4.54% -0.43% 0.38% ATRAM Alpha Opportunity Fund, Inc. -a 1.469 1.70% 4.11% -0.13% 1.73% -0.23% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.942 -5.65% -2.02% -6.59% -2.29% -0.12% Climbs Share Capital Equity Investment Fund Corp. -a 0.7015 -1.18% -3.93% -6.01% n.a 0.40% First Metro Consumer Fund, Inc. -a 0.634 -11.15% -4.59% -6.27% n.a 1.34% First Metro Save and Learn Equity Fund, Inc. -a 4.628 -7.10% -2.13% -3.66% -0.38% -0.04% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6962 -7.48% -2.61% n.a n.a 0.53% MBG Equity Investment Fund, Inc. -a 84.62 6.07% -6.34% -7.18% n.a -0.44% PAMI Equity Index Fund, Inc. -a 43.234 -6.94% -2.62% -3.87% n.a 0.75% Philam Strategic Growth Fund, Inc. -a 449.21 -4.67% -2.72% -3.88% -0.46% 0.41% Philequity Dividend Yield Fund, Inc. -a 1.21 -2.52% 1.12% -1.80% n.a 0.43% Philequity Fund, Inc. -a 33.874 -4.49% -0.85% -2.76% 1.35% 0.71% Philequity MSCI Philippine Index Fund, Inc. -a 0.8688 -5.17% -1.62% -3.74% n.a 0.22% Philequity PSE Index Fund, Inc. -a 4.542 -5.94% -1.74% -3.10% 1.24% 0.71% Philippine Stock Index Fund Corp. -a 756.13 -6.07% -1.92% -3.17% 1.24% 0.75% Soldivo Strategic Growth Fund, Inc. -a 0.6812 -5.90% -1.70% -5.60% n.a -0.66% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.382 -6.32% -2.30% -4.68% -0.37% 0.53% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8574 -6.34% -2.23% -3.46% n.a 0.75% United Fund, Inc. -a 3.121 -5.42% -1.95% -3.30% 0.53% 0.95% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.063 -6.25% n.a n.a n.a 0.68% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.004 n.a n.a n.a n.a -0.08% Philequity Alpha One Fund, Inc. -a 1.008 -10.82% -2.50% n.a n.a -1.12% Philippine Stock Index Fund Corp. -a 917.95 -6.09% n.a n.a n.a 0.75% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 102.71 -5.53% -1.52% -2.86% 1.92% 0.76% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.7685 -16.16% -16.78% -4.54% -2.09% -6.51% Sun Life Prosperity World Voyager Fund, Inc. -a $1.6477 10.55% -1.48% 6.76% n.a -0.85% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Philippine Balanced Fund, Inc. -a 2.202 1.93% -1.32% -0.84% 0.45% -0.51% ATRAM Unicapital Diversified Growth Fund, Inc. -a,4 1.508 0.71% -3.53% -2.70% -1.44% -0.17% First Metro Save and Learn Balanced Fund, Inc. -a 2.494 -5.14% -1.70% -1.23% -0.82% -0.11% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a0.191 -6.65% -1.26% n.a n.a 0.32% NCM Mutual Fund of the Phils., Inc. -a 1.942 -4.01% -0.45% 0.34% 1.50% 0.49% PAMI Horizon Fund, Inc. -a 3.558 -1.16% -2.09% -0.38% 0.62% 0.07% Philam Fund, Inc. -a 15.568 -1.52% -2.80% -1.08% 0.30% 0.03% Solidaritas Fund, Inc. -a 2.034 -1.78% -0.98% -1.10% 1.19% 0.31% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.407 -2.18% -1.62% -2.20% 0.09% -0.03% Sun Life Prosperity Dynamic Fund, Inc. -a 0.902 -2.98% 0.37% -1.32% n.a -0.25% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9427 -0.33% -2.75% n.a n.a 0.26% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.849 -4.87% -3.64% n.a n.a 0.22% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8298 -5.66% -3.81% n.a n.a 0.51% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03267 -1.15% -5.84% -1.61% 0.03% -1.63% PAMI Asia Balanced Fund, Inc. -b $0.86 -10.72% -11.23% -2.10% -1.39% -6.02% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2376 5.71% -2.81% 4.00% 2.78% -1.27% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0239 1.39% -4.53% 0.70% n.a -1.64% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 391.03 3.16% 1.72% 2.58% 2.29% 0.14% ATRAM Corporate Bond Fund, Inc. -a 1.912 1.35% 0.16% 0.57% 0.08% 0.16% Cocolife Fixed Income Fund, Inc. -a 3.335 2.73% 1.21% 2.27% 3.76% 0.30% Ekklesia Mutual Fund, Inc. -a 2.277 3.09% -0.35% 1.24% 1.49% -0.38% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.451 1.57% -0.03% 1.97% 1.14% -0.26% Philam Bond Fund, Inc. -a 4.287 1.77% -2.69% 2.04% 0.93% -0.26% Philam Managed Income Fund, Inc. -a 1.381 4.16% 1.45% 3.17% 1.83% 0.58% Philequity Peso Bond Fund, Inc. -a 4.034 3.19% 0.38% 2.52% 1.66% 0.00% Soldivo Bond Fund, Inc. -a 1.05 2.51% 0.27% 2.95% n.a 0.07% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.303 3.72% 0.96% 3.29% 2.20% -0.30% Sun Life Prosperity GS Fund, Inc. -a 1.765 3.04% 0.20% 2.46% 1.56% -0.25% Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3 1.012 n.a n.a n.a n.a 0.41% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $495.62 2.73% 0.74% 1.98% 2.51% 0.08% ALFM Euro Bond Fund, Inc. -a Є214.07 1.57% -0.81% 0.10% 0.82% 0.04% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0325 -0.26% -6.96% -1.85% 0.06% -0.99% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0248 3.33% -2.19% -0.08% n.a -0.40% PAMI Global Bond Fund, Inc. -b $0.8535 -1.74% -7.85% -3.82% -3.08% -0.45% Philam Dollar Bond Fund, Inc. -a $2.2802 2.72% -3.45% 0.78% 1.78% -1.71% Philequity Dollar Income Fund, Inc. -a $0.0610238 1.50% -0.72% 1.34% 1.59% 0.18% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7418 -2.73% -5.29% -1.06% 0.34% -3.24% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 137.09 2.80% 1.80% 2.47% 2.05% 0.16% First Metro Save and Learn Money Market Fund, Inc. -a 1.11 3.29% 1.93% n.a n.a 0.19% Sun Life Prosperity Peso Starter Fund, Inc. -a 1.378 2.85% 2.02% 2.44% 2.05% 0.17% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.87 4.19% n.a n.a n.a 0.28% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0999 2.67% 1.46% 1.57% n.a 0.22% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.068 -0.66% n.a n.a n.a -0.10% Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a1.461 15.23% 7.77% n.a n.a -0.55% Sun Life Prosperity World Income Fund, Inc. -a,1 0.9945 n.a n.a n.a n.a -0.52% Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7934 -2.95% -7.11% n.a n.a -1.16% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Launch date is August 22, 2023. 2 - Launch date is October 6, 2023. 3 - Launch date is May 25, 2023.

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

www.news.businessmirror@gmail.com

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, January 23, 2024 B3

BSP’s law enforcement power seen with Afasa

P

By Cai U. Ordinario

@caiordinario

HISHING will soon be added to the list of crimes in the Philippines thanks to a proposed bill that will give the Bangko Sentral ng Pilipinas (BSP) law enforcement powers.

In a recent briefing, BSP Senior Assistant Governor and General Counsel (SAGGC) Elmore O. Capule said Senator Mark A. Villar gave his assurance that the Anti-Financial Account Scamming Act (Afasa) will be fast tracked.

Capule said the provisions of this new law will allow the BSP to investigate by looking into deposits, some-

thing that is not part of BSP’s powers nor under the scope of the Philippine National Police (PNP).

“As a matter of fact, last week we had another committee hearing in the Senate. And it’s favorable. Even the industry is supporting it. So according to Senator Mark Villar, his committee will fasttrack this,” Capule said. “Because they realized that

Principles of Wealth Building for Filipinos in 2024

B

UILDING wealth is a goal for many Filipinos. As a growing economy, this is the time when working professionals and business owners have the potential to grow their finances plus access to information and various platforms that can help us.

Building wealth can be sometimes overwhelming, in reality, it takes time, effort and discipline to be successful with this goal. Getrich-quick schemes or too-goodto-be-true opportunities can be dangerous and hopefully, the following principles can help you in your journey.

The earlier you start applying these principles, the higher change that you will achieve your financial goals at an earlier stage.

1. How to earn money. This step may seem basic but this is the most fundamental. There are two ways to make money, it is either earned income or passive income.

As defined by Investopedia, “earned income is money received as pay for work performed, such as wages, salaries, bonuses, commissions, tips and net earnings from self-employment.” It can also include long-term disability, union strike benefits and, in some cases, payments from certain deferred retirement compensation arrangements.

Meanwhile, passive income is revenue that takes negligible effort to acquire. It includes earnings from rental properties, limited partnerships and other projects where you’re not involved in the continued generation of earnings. While these moneymaking ventures may have initially required your resources, time, or efforts, they generally eventually pay out automatically without you breaking a sweat.

After understanding these two ways, we can be more strategic to start on how we can have multiple sources of income which can cater to different needs/goals. If you are just starting to build your career or business, you may still explore different industries to identify your strengths and weaknesses. In the long run, let’s say after 10 years, you will have a more focused skillset which gives you higher income opportunity.

If you are an engineer, for example, you may start earning a decent amount of income after five years of solid experience then upon building your business in the future, you now have the opportunity to earn unlimited by having clients that you will serve.

2. Set goals and develop a plan. Setting a clear “Why” in your investments can help you be committed in your journey. Start by defining your financial goals, could it be saving for your retirement, preparing for educational funds of your children or paying of debts.

Regularly review your progress and

Karlo Biglang-Awa

personal finance make adjustments as needed.

3. Check your portfolio if a re-balancing is needed. While buying and selling investments on a regular basis such as annually, quarterly or every three years, your financial needs will change depending on your life season. As market segments move in and out of your favor, some areas of your portfolio might not be aligned with your short term goals. For example if the mixture of your investments are 50-percent conservative and 50-percent aggressive, you may consider changing it to 60-percent conservative and 40-percent aggressive. There’s no specific formula that will be applicable for all but atleast discussing this with a finance professional, you can assess and allocate to a mixture that is suitable to your life stage. Sharing herewith also some of the strategies that we can apply.

1. Switch your actively managed funds to index funds. Index funds are passive investments that is already diversified to the top 30 companies in the country.

2. Delegate some of your asset allocation to a target date fund.

Having a specific target date can give you a firm commitment for a specific strategy if you will still hold a particular fund or not. Let’s say if you have a target fund by 2050, you can be firm that the allocation will be aggressive type of fund since you have more time to endure the fluctuations and expect higher returns in the long run.

3. Consider investing in international stocks. International stocks have two main advantages: Diversification and potential perform better than local stocks over certain periods. In the periods of the 1980s, the years 2002 and 2008, international stocks have fared better even in the US counterparts. If you are investing in the Philippine market, you will now have an opportunity to invest in companies that are part of the S&P 500, you just need to study which platform will be applicable for you. It could be through banks, insurance companies or online stock brokerage platforms.

Considering the strategies that we’ve shared, always remember to pause, reflect and consult a professional before executing your plans.

May you have a fruitful investing journey in 2024.

Karlo Biglang-awa is a registered financial planner of RFP Philippines. To learn more about financial planning, attend the 105th RFP program this January 2024. Please email info@rfp.ph or visit rfp.ph for details

it is a law whose time has already come. So if it passes to the Senate after they go to second reading and then third reading.”

Warrants, orders

APART from investigating, the Afasa would authorize the BSP to apply for cybercrime warrants and orders as well as request the assistance of the PNP in the investigation of these cases. The bill has been certified as urgent by the Legislative-Executive Development Advisory Council (Ledac).

“The bill, likewise, includes a limited authority to examine and investigate financial accounts, e-wallets, and other financial accounts that are involved in the prohibited acts,” Capule’s presentation stated. “[This] shall be exempt from the existing bank secrecy laws as well as data

privacy laws to be able to gather sufficient information in relation to thr commission of the prohibited acts under the bill.”

In a separate presentation, BSP Director of the Consumer Protection and Market Conduct Office Director Charina De Vera-Yap said the central bank has received over 30,000 complaints as of September 2023.

“Majority of the complaints are regarding e-money but its mostly on account management [such as] they cannot access their accounts, they forget their passwords, and how to access their accounts,” De Vera-Yap said.

Capule said the Afasa is a crucial piece of legislation given that phishing was named one of the top three cybersecurity threats in 2022.

This is based on data from the complaints filed with the BSP Con-

sumer and Market Conduct Office and reports of crimes and losses with the Financial Supervision Sector.

Phishing, its variations

THE top cybersecurity incident was phishing and its variations, which accounted for complaints covering 6,595 incidents and an amount of P623 million. This was followed by card not present or fraud which accounted for 5,211 of the incidents which involved an amount of P467 million.

The third top cybersecurity incident was account takeover or identity theft covering 3,104 incidents amounting to P409 million.

“It is important because we are the only country where we do not allow the banking regulator to look into bank deposits when there are issues against the owners. So we don’t

want to have a distinction,” Capule told reporters.

Last week, the presiding chairman of the Committee on Banks, Financial Institutions and Currencies, Senator Villar, successfully steered the discussions on three Senate Resolutions, six Senate Bills, and one House Bill, collectively called the 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.”

Reiterating the need for a legislative measure that not only provides for a penalty after the fact, Villar stressed that what is also needed is “one that effectively responds to or even prevents criminals from facilitating these scams.”

The 7th Man: Recto takes oath as new MB member

F

INANCE Secretary Ralph G. Recto has been sworn in as the administration’s representative in the Monetary Board, the highest policy making body of the Bangko Sentral ng Pilipinas (BSP).

In a statement, BSP said Governor Eli M. Remolona Jr. administered the oath to Recto last Monday at the BSP head office in Manila.

With this, Recto officially became the seventh member of the Monetary Board, chaired by BSP Governor Remolona.

The other five full-time members from the private sector are Benjamin E. Diokno; V. Bruce J. Tolentino; Anita Linda R. Aquino; Romeo L. Bernardo; and, Rosalia V. De Leon.

Before his appointment to the DOF on January 15, Recto served as Deputy Speaker of the House of Representatives in the 19th Congress, representing the 6th District of Batangas.

He was a Senator for three terms (2001 to 2007 and 2010 to 2022) and held key positions that included Senate President Pro Tempore and Senate Minority Leader. From 1992 to 2001, he was the Representative of the 4th District of Batangas.

In 2008, he served as Socioeconomic Planning Secretary of the National Economic and Development Authority (NEDA).

Recto holds a bachelor’s degree in Commerce majoring in Business Management from the De

This January 22, 2024, photo shows Finance Secretary Ralph G. Recto (right) during his oath-taking as the new member of the Monetary Board. Bangko Sentral ng Pilipinas BSP Governor Eli M. Remolona Jr. (left) administered the oath to Recto last Monday at the BSP head office in Manila. CREDIT: Office of Finance Secretary Ralph G. Recto

La Salle University in Manila.

He took up his master’s degrees in Business Economics from the University of Asia and the Pacific; and in Public Administration from the University of the Philippines.

Further, he completed a Leadership Course at

‘Average yields remain favorable to Treasury’

By Jasper Emmanuel Y. Arcalas @jearcalas

D

ESPITE another yield correction, the national government made a full award of its P15-billion auction of short-term securities as it remained “cheaper” for the state to borrow from the domestic market.

The Bureau of the Treasury (BTr) successfully raised its full programmed amount for the Treasury bills (T-bills) auction on Monday as investors’ asking yields remained below secondary market benchmark levels despite an uptick.

The yields during Monday’s auction were higher by 0.038 to as much as 0.081 percentage points compared to their previous tender’s averages. Despite the week-on-week increase, the average yields remained favorable for the Treasury as they were lower or well within the secondary market benchmark levels, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said.

“Treasury bill yields have normalized recently and are now mostly slightly lower versus the comparable short-term PHP BVAL yields, so still cheaper to borrow from the auction and justifying full awards,” Ricafort said.

The Treasury is also perhaps hedging that domestic investors’ asking yields for government securities would continue to increase in the upcoming auctions.

With this, the Treasury is in the position to make a full award at the present average rates.

“Also part of hedging borrowing requirements amid geopolitical uncertainties related to the two wars (RussiaUkraine and Israel-Hamas wars). There is also a continuous need to finance the government’s budget deficit,” Ricafort said.

“Possible [Federal Reserve] rate cuts later in 2024 that could be matched locally would also make more short-term

borrowings more prudent in being able to not lock in still relatively higher interest rates for longer term tenors, so they can refinance at lower interest rates eventually after a few months,” the RCBC executive added.

Monday’s tender was oversubscribed with total tender reaching P35 billion, more than double than what the Treasury programmed for the auction.

The 364-day T-bills was the most oversubscribed during the auction with total bids of P12.1 billion followed by the 91-day debt paper at P11.9 billion. The 182-day government security fetched P11 billion in bids. The average yield for the 91day T-bills settled at 5.306 percent with a range of 5.275 percent to 5.35 percent.

Meanwhile, investors’ average rate for the 182-day T-bills reached 5.766 percent. Investors bid rates for the 182day T-bills were between 5.743 percent and 5.795 percent.

The yield for the 364-day T-bills averaged at 6.037 percent with a rate range of 6 percent to 6.075 percent.

Ricafort noted that T-bills average yields “corrected higher for the fifth straight auction” reflecting the similar movements in the secondary market.

The reasons behind the correction could be attributed to the hawkish signals by local monetary authorities and “more cautious” or “less dovish” statements from the Federal Reserve, Ricafort explained. He also noted that volatility in the Philippine Peso-US dollar exchange rate contributed to the yield correction.

“T-bill average auction yields also corrected higher again after lower total bids/demand at P34.99 billion compared to the previous week’s P43.188 billion,” he said.

“The recent upward correction in Treasury bill auction yields also came after the relatively sharp decline during the November 28, 2023 auction,” he added.

the John F. Kennedy School of Government at Harvard University.

Last week, BSP said it was still awaiting word on who will be appointed by the President as the administration representative in the Monetary Board.

President Ferdinand R. Marcos Jr. recently appointed former Finance Secretary Benjamin E. Diokno to a fresh 6-year term in serving the MB after he was replaced by former Senator and National Economic and Development Authority (Neda) Secretary Ralph G. Recto.

However, in the Media Information Session of the BSP with reporters on Friday, BSP Deputy Governor Eduardo G. Bobier said there is no assurance that the Secretary of Finance will be the one to represent the government in the Monetary Board.

BSP Deputy Governor Francisco G. Dakila Jr. said there were years when the government representative to the MB was the Secretary of the Neda, and there were years when it was the Secretary of the Department of Trade and Industry who occupied the post.

These happened during the time of former President Gloria Macapagal-Arroyo, who appointed former Neda Secretary Romulo G. Neri to the MB as well as former Trade and Industry Secretaries Mar Roxas and Peter Favila to the highest policymaking body of the BSP. Cai U. Ordinario

Social media users iffy with PhilHealth verity

By Rizal Raoul S. Reyes @brownindio

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ESEARCH firm Capstone-Intel Corp. announced last Monday its study of social media revealed that the online presence of state insurer Philippine Health Insurance Corp. (PhilHealth) has received over 55 percent negative mentions following the increase in contributions this year.

The firm’s statement issued on January 22 said that Capstone-Intel found that PhilHealth garnered a 445,532.3 engagement score for its 19,814 total post count, which yielded over 1,329,617 total reaction count.

“When broken down, ‘Facebook like’ accounts for 67 percent of the total reactions, with 891,350,” the firm said. “Followed by ‘Facebook love’ with 298,220 reactions (22.4 percent), ‘Facebook haha’ with 96,657 (7.3 percent), ‘Facebook sad’ with 19,284 (1.5 percent), ‘Facebook angry’ with 12,249 (0.9 percent) and ‘Facebook wow’ with 11,861 reactions (0.9 percent).”

Capstone-Intel said it examined the online presence of PhilHealth in the country as a topic of discussion for one year, from January 16, 2023, to January 16, 2024, “by utilizing all publicly accessible posts from social and non-social media platforms in order to gather the sentiments of the public about the state insurer.”

Looking at the data, the firm said that majority of “Facebook like” and “Facebook love” reactions can be attributed to several Filipino social media users showing off excessive support to the state insurer for the first few months of the year due to its program campaigns as seen on the data.

However, some of the reactions can be attributed to some social media users

not keen on the recent mandates of the corporation to increase the contribution rate of its members.

Raffy Tulfo

CAPSTONE-Intel, likewise, revealed that PhilHealth received 55.1 percent positive mentions, and the remaining 44.9 percent were negative mentions. This means that the article mentions about PhilHealth were mostly angled positively, but the negative mentions are also worth understanding as the numbers nearly hit the positive ones, as per the data, these negative mentions are attributed to stories mentioning the failure of the state insurer to support the public with their medical needs, and once again, due to their increasing contribution rate.

It is also worth noting that PhilHealth received 16,083,901 social media reach, while its non-social media reach yielded over 1,797,349 nonsocial media reach.

This only means that PhilHealth is more actively seen on social media particularly Facebook, with a 28.5 percent presence score, followed by news with 24.8 percent, and Twitter with 15 percent.

In terms of top posts, the top post for PhilHealth was a Facebook post from Senator Raffy Tulfo, which evaluates the mandatory contributions for overseas Filipino Workers during a Senate hearing, which received a 40,314.0 engagement score, the firm said.

This was followed by another post from Tulfo, which once again probed on the “questionable” billions worth of claims from the state insurer, the firm added. This post yielded a total of 38,277.4 engagement score, according to Capstone-Intel.

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Tuesday, January 23, 2024 • Editor: Gerard S. Ramos

Art

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TODAY’S HOROSCOPE

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Tiffani Thiessen, 50; Mariska Hargitay, 60; Gail O’Grady, 61; Richard Dean Anderson, 74.

HAPPY BIRTHDAY: Find out all you can and proceed with confidence. Knowledge is your ticket to success. Don’t hesitate to adjust your lifestyle to suit your needs. Stay focused on what matters, and eliminate what is weighing you down. Simplifying your life will allow you to use your time and energy to enjoy the journey and reach your destination. Romance and personal growth are favored. Your numbers are 8, 14, 25, 29, 32, 34, 43.

ARIES (March 21-April 19): Revamp your plans to suit your needs. Listen and observe, but don’t offer your thoughts. Move forward secretly until you know who you can trust. Keep your emotions out of your decisions and conversations. Bide your time. ★★

INSTALLATION views of Peonies in Bloom (left) and Pillars of Divinity, Chongseok Rocks, two of the four immersive video works featured in an ongoing digital art exhibit at the Korean Cultural Center in the Philippines.

Digital art exhibit immerses Filipinos in Korean culture

TAURUS (April 20-May 20): Pursue knowledge and expand your social expectations. It’s up to you to put your plans in motion and enlist people with something to contribute. Don’t rely on someone else to do the work for you. ★★★★

GEMINI (May 21-June 20): Live and learn. Don’t forget your experience and knowledge when faced with a dilemma. Don’t wait for someone to make the first move. Jump into action and take control of your future. Move forward on your own steam. ★★★★

CANCER (June 21-July 22): Use your energy wisely. You can move forward if you act decisively to enforce positive change. Don’t sit idle when you have much to offer and more to gain.

Devise a plan and proceed. Romance is in the stars. ★★★

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HE Korean Cultural Center in the Philippines (KCC Philippines) and the National Museum of Korea kicked off over the weekend a months-long landmark art exhibition designed to broaden and deepen the Filipinos’ appreciation of Korean culture.

Titled Endless Landscape: Digitally Reimagined Korean Art, the show opened on January 19 and will run until June 29 at the fifth floor of the Multipurpose Hall of the KCC Philippines building along Bayani Road in Taguig City. The show aims to build on the strong following of many Filipinos on K-pop and Korean television programs, featuring four traditional Korean paintings reimagined as immersive video works using new digital technologies.

“I hope that this exhibition focusing on digital content, which goes beyond conventional artifactcentered exhibitions, will serve as a unique opportunity to introduce Korean culture to the Filipino public,” said Yoon Sung Yong, director general of the National Museum of Korea.

The exhibit serves as the first outcome in the Philippines of the National Museum of Korea’s Overseas Korean Galleries Support Program, an effort of the museum to broaden the reach of K-culture worldwide. The overseas support program is customized to fit the local characteristics of different countries around the world.

In the Philippines, the absence of Korean galleries or museums housing Korean cultural heritage makes it difficult for the local audience to experience traditional Korean cultural content. As such, Endless Landscape: Digitally Reimagined Korean Art veers away from the constraints of hosting artifact-centered exhibitions and employed a digital approach to convey the stories of Korean cultural heritage to Filipinos in a vibrant and engaging manner.

The exhibition presents four video reinterpretations of traditional Korean paintings, produced by the National Museum of Korea and the Chuncheon National Museum. An expansive

LEO (July 23-Aug. 22): Consider your situation and decide what to do next based on facts, not fiction. Once you have verified the information, you will find it easier to react appropriately. Keep your emotions to yourself, and don’t let poor behavior play a role in what transpires. Simple tactics are the best route forward. ★★★

KIM MYEONGJIN, Korean Cultural Center director (from left); Oscar Casaysay, National Commission for Culture and the Arts executive director; Lee Sang-hwa, ambassador of Korea to the Philippines; Kim Dohyung, National Museum of Korea executive director of the education and cultural bureau; and Jeong Myounghee, National Museum of Korea exhibition division head.

panorama of digital screens takes the audience into the transcendental worlds of the featured pieces, creating a deep sense of immersion that brings to life the rich tapestry of the unique landscapes, ambience and history embodied within traditional Korean paintings.

One of the showcased video works, titled Endless Mountains and Rivers: A Prosperous World Unfolds in Nature, is based on Endless Mountains and Rivers by Yi Inmun (1745-after 1824), a royal court painter during the Joseon Dynasty (1392-1897). The video presents a vivid rendition of people living in harmony with immutable nature. Meanwhile, another video, titled Royal Processions with the People, immerses the audience in the official uigwe (royal protocols) records of the ceremonies of the Joseon royal court. Based on these royal records and paintings, the showcase invites visitors into a world of majestic royal rites centered on the processions to Hwaseong Fortress in Suwon by King Jeongjo (r. 1776-1880), the 22nd King of the Joseon Dynasty.

Then there’s Pillars of Divinity, Chongseok Rocks, which illustrates the stunning view of Chongseok Rocks in Tongcheon, Gangwondo Province, a renowned scenic attraction in the Geumgangsan Mountain area. This video is based on the painting Scenic View of Chongseok Rocks by the painter and calligrapher Kim Gyujin (1868-1933). Lastly, Peonies in Bloom takes cue from the two-panel painting of peony flowers in the National Museum of Korea collection.

Peonies are celebrated for their elegant appearance and have long served as an object of admiration, a symbol of wealth and abundance, and an important

motif for royal rites and architecture. The video work transports visitors into a garden of red and white peony blossoms in full bloom.

Aside from expanding and deepening the Filipinos’ appreciation of Korean culture, the exhibition also commemorates the long-standing friendship between the Philippines and Korea. This year marks the 75th anniversary of diplomatic relations between the two countries.

“As the first event to celebrate 75 years of friendship between Korea and the Philippines, this exhibition provides a great opportunity for meaningful cultural exchanges between our two countries,” said H.E. Lee Sang-hwa, the ambassador of the Republic of Korea to the Philippines. “I hope that it will showcase Korea’s rich tradition and substantiate its position as a digital powerhouse that can further strengthen our bilateral partnership.”

Endless Landscape: Digitally Reimagined Korean Art kicks off a series of events celebrating the milestone year at KCC Philippines. Lined up in the coming months are a Korea Festival and K-drama OST Concert. KCC Philippines will likewise organize monthly house concerts featuring Filipino artists in collaboration with the National Commission for Culture and the Arts of the Philippines.

Meanwhile, the National Museum of Korea will continue to carry out further projects and overseas exhibitions as part of its Overseas Korean Galleries Support Program. The museum remains committed to promoting Korean culture and strengthening “its status through diverse projects that encompass both traditional and contemporary contexts.” ■

VIRGO (Aug. 23-Sept. 22): Call on someone you enjoy being around, and you’ll get the backup you require to get your plans up and running. A unique change will interest someone with the equipment or skills to help you achieve your dreams. ★★★★

LIBRA (Sept. 23-Oct. 22): Stop contemplating the changes you must address at home and put some muscle behind your effort. What you do matters, so stop talking and get the job done.

Expect to face criticism if you don’t deliver. ★★

SCORPIO (Oct. 23-Nov. 21): Keep your spending to a minimum. A change of attitude will attract helpful individuals. A unique point of view will draw attention to a cause you care about. Take an intellectual approach to change instead of letting brute force lead the way. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Keep an open mind, but don’t believe everything you hear. Someone will go to great lengths to convince you of something false. Go directly to the source and uncover what’s real before you move.

Protect your money and position. ★★★

CAPRICORN (Dec. 22-Jan. 19): Follow your passion. Embrace the future and expand your interests. Take control by changing what doesn’t work for you anymore. Update your goals, and make room for what matters most. Choose your fate, and take the path that allows you to be unique. ★★★

AQUARIUS (Jan. 20-Feb. 18): Moderation is in your best interest. You can take advantage of an opportunity if you are willing to do the legwork. A conversation with an expert or authority figure will point you in the right direction. Maintain a steady pace and tight budget. ★★★

PISCES (Feb. 19-March 20): Adjust your routine and home life to suit your needs.

Personal gain, physical improvements and spending more time with someone you love will put you in the right frame of mind to go after your dreams. ★★★★★ BIRTHDAY BABY: You are passionate, helpful and unique.

You are productive and challenging.

‘two for two’ BY HOANG-KIM WU

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Adrian Johnson/Jared Goudsmit ACROSS 1 Shadowy group 6 Might 9 Ctrl-Alt-___ 12 It’s often tough to assign 13 Opposite of coarse 14 Russell of The Diplomat 15 Acting, producing and activism, for a certain Laura?

17 Like many posters?: Abbr.

18 Etsy’s business 19 Tolerate 20 Some spouses making a big purchase?

24 Substitute for “such and such” 25 Red Muppet 26 Painless 27 It depicts local favorites for tourists 30 U-turn from WNW 31 Spot with extra wall space for diplomas, pictures and a flat screen?

34 Fell, as a tree 36 One on the run 38 Lion’s call 39 Heed 40 “Forgive me, I had no idea”

43 Produce one lump for the mine cart?

47 Message sent without postage 48 ___ Penh (capital of Cambodia) 49 Tender cut of pork 50 What a bilingual speaker may do in different situations...or a three-part theme hint 55 Pulmonologist’s organ 56 Bad smell 57 Flood barrier 58 “Where ___ you?”

59 Plead 60 “4 real” DOWN 1 Type of oil that might help with anxiety 2 White or brown beer 3 Place that serves 2-Down 4 ___ International (human rights group) 5 Didn’t remove 6 ___ Vanilli 7 & 8 It’s an affirmative 9 Jeans fabric 10 Wear away

11 Fabric made from flax 13 Deceptive move 14 Cartoon explosion sound 16 Character in Othello or Aladdin 19 “Wow, this stinks” 20 Pursue 21 Watering holes where you might find dates?

22 Steve Urkel, e.g.

23 Extreme joy 24 Tiny 27 Get on in years 28 Now, in Nogales 29 Piece of wisdom 31 “Boyfriend” or “girlfriend,” in dating lingo 32 Phone abbr. near 0 33 Singer involved with two Top 10 songs named “Let Me Love You” 35 Ironically humorous 37 Arriving 38 More spacious 40 Last survey option, often 41 Frozen antagonist 42 Grouchy expressions 43 Extremely, slangily

44 Sentiment de romantisme 45 State known for lobster 46 Certain rising yoga pose, familiarly 50 Corn leftover 51 “___ to Billie Joe” 52 Some have OLED displays 53 Frame in Who Framed Roger Rabbit 54 “Watch it!”

Solution to today’s puzzle:

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ATOM ARAULLO explores the challenges of education.

Editor: Gerard S. Ramos • Tuesday, January 23, 2024

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Two amazing films about women

Stories of young children who risk their lives for education in Atom Araullo specials

FOR cousins Jamboy and Joddel, who live atop the mountain ranges of Ifugao, a tram anchored on steel cables provides the most efficient route to reach their school. They have no protection while soaring through the air. When they reach school, they face another challenge: English, a language they barely understand. Lessons are then translated into Filipino or their local dialect, Tuwali. They are in Grade 6 and they hope to graduate this year.

The Atom Araullo Specials features the stories of young children as they face danger in their everyday journey to school, and a host of other challenges that impact their ability to learn and have a chance at a better life.

In Pangasinan, a makeshift raft made of bamboo stems is the only means of transportation that brings students to school, and is captained by Grade 9 student Embo. He helps the students cross the river, but harder work awaits in the public school he attends.

It is quite known that some students graduate from the elementary level without being able to read or even have some understanding of reading materials. Embo’s school addresses this problem by implementing the “buddy-buddy system.” A student unable to read or comprehend written materials is paired with a more capable student. Embo is in the latter category and his buddy is Daniel. Together, with extra guidance from Embo, they learn at a somewhat equal pace.

In a remote island in Quezon, a Grade 6 student shows she doesn’t need a license to teach to fulfill her advocacy. Jedilyn is a volunteer teacher in this small community. Because materials such as books are scarce, she can only use torn, old books to teach kids as young as five years old how to read and write.

The stories of Jamboy and Joddel, Embo, and Jedilyn shine a light on learning poverty—or being unable to read and understand a simple text—in the Philippines. According to a 2023 World Bank report, the Philippines is among the eight nations that registered a learning poverty rate higher than two-thirds, or 67 percent, despite the return of in-person classes in schools beginning in November 2022. This puts the Philippines in a critical position as it needs to catch up to a five-year learning backlog, three of which were during the pandemic.

Yet some children are able to use the hurdles against them as a stepping stone, and, admirably even become part of the solution in their own little ways.

The Atom Araullo Specials: Tawid-Aral premiered on January 21, 2024, on GMA and should be available soon on the show’s YouTube channel.

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WO movies that have women as central characters stirred our attention recently, that’s why we made an effort to see them.

One is Sofia Coppola’s Priscilla and the other is Paris Zarcilla’s Raging Grace.

Raging Grace follows the story of an undocumented Asian mother who took the job as a cleaner of a huge house where a sick, wealthy old man lives. What she discovers in the house makes her realize that everything is not as it seems.

It takes pride as the first Philippine-British film produced in the UK and, furthermore, the only British film that has been honored with a Best Narrative Feature at the highly touted SXSW International Film Festival celebrated annually in the state of Texas.

Award-winning Filipino actress Max Eigenmann has been getting good reviews as the undocumented woman who hides her daughter in a suitcase when she came in to work at the vast creepy mansion.

“I auditioned for the role and they gave it to me. We shot the film entirely in the UK during the coldest of temperatures. The experience was priceless and I had the opportunity to work with a most professional and fun team led by our amazing director Paris Zarcilla, a rising Filipino-British filmmaker. I look forward to seeing the film do the rounds of prestigious festivals this year, and I hope to get to attend some, too!” enthused Eigenmann during a recent special screening of the movie.

Priscilla, the other interesting film we saw, was shot in Toronto, Canada, almost at the s555ame time as Raging Grace.

Based on the memoir Elvis and Me by Priscilla Presley with Sandra Harmon, the film gives us a colorful narrative from the time a teenage Priscilla met the already rising star Elvis at a party until their romantic relationship turned into marriage and eventually, separation.

The fact that the movie’s filmmaker and lead character are both women, it delved deep into the many facets and layers of women—their dreams, their silence, their emotions, their innermost desires, their suppressed insecurities, their natural strengths and their definitions of love, success and happiness.

Lead actress Cailee Spaeny was a perfect choice for the character of Priscilla Beaulieu, and she was awarded the Volpi Cup for Best Actress at the Venice International Film Festival for her on-point performance. Spaeny also scored a Golden Globe nomination for Best Drama Movie Lead Actress.

Interestingly, the movie is devoid of any of

‘Mean Girls’ fetches $11.7M in second weekend to stay No. 1 at box office THIS image released by Paramount Pictures shows Avantika (from left) Angourie Rice, Renee Rapp and Bebe Wood in a scene from Mean Girls. AP

By Jake Coyle The Associated Press NEW YORK—On a quiet weekend in movie theaters, Mean Girls repeated atop the box office with $11.7 million in ticket sales, according to studio estimates Sunday, while a handful of awards contenders sought to make an impact ahead of Oscar nominations on Tuesday.

With a dearth of new releases in cinemas, Paramount Pictures’ Tina Fey-scripted musical Mean Girls pushed its two-week total past $50 million, along with $16.2 million internationally. So far, it’s outpacing the tally for the 2004 original Mean Girls.

Only one new film debuted in wide release: I.S.S., a modestly budgeted sci-fi thriller starring Ariana DeBose. The film, which speculates what would happen aboard the International Space Station if war broke out between the US and Russia, debuted with $3 million on 2,518 screens for Bleecker Street.

Expectations weren’t high for I.S.S., which drew only so-so reviews and was lightly marketed.

Audiences also didn’t like it, giving the film a “C-” CinemaScore.

But even for January, historically a low ebb for moviegoing, it was a sparsely attended weekend, with paltry options on the big screen. The top 10 films collectively accounted for just $51.3 million in box

office, according to comScore.

With a similarly thin release schedule on deck for next weekend, it could be the start of a chastening trend for Hollywood in 2024. Due to production delays caused by last year’s strikes, there are significant holes throughout this year’s movie calendar.

The Jason Statham thriller The Beekeeper, from Amazon MGM Studios, remained in second place, grossing $8.5 million in its second weekend to bring its total to $31.1 million. Warner Bros. Wonka, six weeks into its smash run in theaters, was third, with $6.4 million in ticket sales. It’s taken in $187.2 million domestically.

Also continuing to leg out was Sony Pictures’ Anyone But You. The rom-com starring Sydney Sweeney and Glen Powell, crossed $100 million globally in its fifth week of release. It’s the highest grossing R-rated romantic comedy—a genre that has largely migrated to streaming platforms—since 2016’s

Bridget Jones’s Baby. Domestically, it came in fourth with $5.4 million.

Much of the weekend’s action was in expanding awards contenders.

After a qualifying release in December, Ava DuVernay’s Origin, starring Aunjanue Ellis-Taylor as the Caste author Isabel Wilkerson, launched in 125 theaters and pulled in $875,000—a strong start for the acclaimed film.

Yorgos Lanthimos’ dark fantasy Poor Things, starring Emma Stone, added 820 theaters and grossed $2 million from 1,400 locations. The Searchlight Pictures release, which won the Golden Globe for best comedy-musical, has earned $33.7 million globally in seven weeks of slowly expanding release.

Cord Jefferson’s American Fiction, starring Jeffrey Wright as a frustrated novelist, expanded to 850 screens and pulled in $1.8 million. American Fiction, up to $8 million in six weeks, will look for a boost in Tuesday’s Oscar nominations.

Elvis Presley songs, since Coppola was not given permission to use his songs. We heard a Ramones rendition of “Baby, I Love You,” to covers by the pop band Phoenix, which Coppola’s husband Thomas Mars is part of. And Dolly Parton singing her original song “I Will Always Love You,” which many still think is a Whitney Houston original, made us smile just before the film came to a close.

Raging Grace is still showing in cinemas and Priscilla, brought to the Philippines by CReaZion Studios through global distributor Mubi, is set to open on January 31. Catch these good films about women if you can. n

Man arrested near Taylor Swift’s NYC townhouse after reported break-in attempt NEW YORK—Taylor Swift’s townhouse in New York City appears to have been the target of another breakin attempt, this time by a man who was arrested near the singer’s Tribeca home on Saturday as police responded to a report of a disorderly person.

Witnesses said the man tried but failed to enter the townhouse in the early afternoon, the New York Post reported.

Police would not confirm a break-in attempt at Swift’s home, but officers arrested a man on the same street when they were told he tried to open a door to a building, an NYPD spokesman said on Sunday. The man was charged on an unrelated 2017 warrant out of Brooklyn for allegedly failing to answer a summons, the spokesman said.

Authorities did not release the man’s name.

An e-mail seeking comment was sent on Sunday to a representative for the “You Belong With Me” singer.

It wasn’t clear if she was at the home at the time. She traveled on Sunday to the Buffalo, New York, area, where her boyfriend, Kansas City Chiefs tight end Travis Kelce, was set to play against the Buffalo Bills in an NFL playoff game in the evening.

The Tribeca townhouse has been the scene of several other break-ins and attempts when Swift wasn’t there, including some by alleged stalkers.

In 2022, a man was charged with trespassing and stalking after authorities said he entered two Tribeca residences linked to Swift. Also that year, a man was arrested for crashing a car into the townhouse and reportedly told police he wouldn’t leave until he met with Swift.

In 2018, another man broke into her townhouse and took a nap, police said. The same man was charged a year later with another break-in at the building after serving a jail sentence.

Police say alleged stalkers have also been arrested at some of her other homes, including ones in Beverly Hills, California, and Watch Hill, Rhode Island. AP

Max Eigenmann in Raging Grace (left) and Cailee Spaeny in Priscilla.

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Tuesday, January 23, 2024

www.businessmirror.com.ph

MERALCO CHAIR AND CEO MVP RECEIVES HIGHEST PAPAL AWARD FOR THE LAITY

MANILA Archbishop Jose Cardinal Advincula confers upon Meralco Chairman and CEO Manuel V. Pangilinan the Cross Pro Ecclesia Et Pontifice, the highest papal award for the laity.

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N recognition of his decades of Christian charity and commitment to humanitarian causes, Manila Electric Company (Meralco) Chairman and Chief Executive Officer Manuel V. Pangilinan has been honored by the Catholic Church with the highest papal award for the laity.

During a Mass at the Manila Cathedral—Basilica of the Immaculate Conception on Wednesday, January 17, 2024, Manila Archbishop Jose Cardinal Advincula, on behalf of Pope Francis, conferred the Cross Pro Ecclesia Et Pontifice upon Pangilinan and eight other recipients.

The award, which translates to “For Church and Pope,” is an honor given by the Pope to the laity for their service to the Catholic Church. First instituted by Pope Leo XIII in 1888, the gold medal features the images of the Apostles Peter and Paul.

“You are sent to look for many opportunities to do good for others and to make more of our brothers and sisters feel God’s care, compassion, healing and love through you,” Cardinal Advincula said during the awarding.

Pangilinan, a long-time supporter and member of the Board of Trustees of Caritas Manila, the leading social service arm of the Archdiocese of Manila which implements various charitable programs nationwide, said he would continue to support other philanthropic organizations on top of the various foundations he leads.

“I think that the work Caritas Manila does, and our foundations, is really to be not too self-interested, and to be mindful of others. After all, what are we here on Earth for except to benefit humanity,” Pangilinan said in an interview with TV5.

Pangilinan also sits as Chairman of the One Meralco Foundation, the corporate social development arm of Meralco, which is dedicated to spreading the light to underserved communities across the country.

Top Employer 2024 certification reflects Boehringer Ingelheim’s impactful people development in PHL

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OEHRINGER Ingelheim has been awarded “Global Top Employer” for the fourth year in a row, and one of the 17 globally certified companies by the Top Employers Institute.

This recognition has extended across the ASEAN, South Korea, Australia, and New Zealand (ASKAN) region. The 2024 certification reflects the impact of the organization’s comprehensive learning and development opportunities.

Boehringer Ingelheim received particularly high scores in the categories “Develop” and “Steer,” highlighting a link between individual development and the company’s purpose of transforming lives for generations.

One example of Boehringer Ingelheim’s commitment to people development is the Boehringer Ingelheim University. Launched in October 2023, it is an internal state-of-the-art virtual campus where learning content is accessible to all 53,000 employees worldwide. This provides employees

with content based on their areas of interest and skills needed in the future.

“Learning and development is a key component for our company as we are powered by our people. This year’s Global Top Employer certification reflects how we empower our employees to be the architects of their own careers, which combined with their passion, can create an impact on millions of lives,” said Rori Fox, HR Director, ASKAN, Boehringer Ingelheim.

Boehringer Ingelheim also runs a regional Leadership Development Program, where par ticipants from different business and functional units are selected through a rigorous nomination process to undergo practical and experience-based learning. The program is in its eighth year and has produced over 80 alumni who have continued their leadership journeys with the organization. people are vital to our commitment to im-

prove the health of humans and animals in the Philippines. As such, it is crucial we future-proof our employees with the right skills and career development opportunities while ensuring that their contributions are celebrated,” says Clare Burrows, General Manager and Head of Human Pharma, Boehringer Ingelheim (Philippines). “In the Philippines, Boehringer Ingelheim has won the award for six consecutive years. Our recurring Top Employer recognition is a testament to our unwavering commitment to our people.”

Boehringer Ingelheim has been listed among the Top Employers globally for the past ten years. This year, it is one of only 17 Top Employers worldwide and will receive the award in 30 countries. Its regional certifications grew to four awards. The regional recognitions as top employers in Europe, Asia Pacific, and Latin America will be complemented with an additional award in the Middle East.

Guess which vivo Y Series phone is getting upgraded version soon

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IVO is dropping hints about the arrival of the upgraded version of one of its Y Series phones launched in 2023. With an array of exciting enhancements, the new release promises to elevate the mobile experience to new heights.

Here are the major upgrades that you need to watch out for:

for photos, videos, and memories.

Enhanced refresh rate

Captivating new colorway

WITH the latest addition to the Y Series color palette, imagine stepping into a vibrant green garden while immersing in the warm glow of the sun shining through leaves, as soft, gentle greens blend seamlessly with golden rays.

The design, adorned with a sparkling texture, brings a chic and playful touch, offering a transparent and tactile sensation that sets it apart from the ordinary.

Powerful performance upgrades

PREPARE for the next level of speed and multitasking efficiency with upgraded RAM that ensures swift responsiveness, allowing users to seamlessly switch between apps and tasks.

Capture every wonderful moment with increased storage space, providing ample room

THE upgraded vivo Y Series phone introduces an improved refresh rate, enhancing the visual experience by reducing motion blur and creating a highly responsive touch interface.

Ideal for gaming enthusiasts and multimedia aficionados, the feature ensures an enjoyable and immersive experience, making every swipe and tap more delightful than ever.

Discover the perfect blend of aesthetics and functionality with the upcoming upgraded version of one of the vivo Y Series phones.

Stay tuned for the official release date and be ready to elevate your smartphone experience to new heights. Follow vivo official website, Facebook, X, Instagram, TikTok, and YouTube.

PLDT Home revolutionizes connectivity by making WiFi 6 Mesh tech accessible to more Pinoy homes

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NEW year has come, and it brings with it new innovations that help the world expand and evolve through digital technology. Filipino households have now become smarter and more interconnected, exploring tech tools to help them keep up with the increasing demands for internet for their productivity, connectivity, entertainment, and security needs.

A common sight at home these days involves working professionals on their laptop, attending video conferences and downloading large files, while the young ones are studying remotely and collaborating online on projects in real-time. After all the important work is done, everyone unwinds by streaming their favorite videos and music or playing their online games while hoping without the dreaded lags. Last but not the least, as the family remains occupied the entire day, they find peace of mind knowing that their home, property, and even pets are secured with smart security measures in place, enabling easy monitoring.

All these activities across the home require a lot of bandwidth, and in most cases, standard routers are not enough to ensure robust WiFi coverage for the entire house. This is where the revolutionary WiFi Mesh System comes into play. A WiFi Mesh system is designed to complement fiber modems, delivering strong WiFi signals in areas of the home that the modem alone cannot reach. It creates a stronger wireless network by blanketing the areas, allowing WiFi to penetrate every nook and cranny of the house. Given the heavy reliance on strong connectivity at home, WiFi Mesh has evolved from being a mere convenience to an absolute necessity.

WiFi 6 offers users the absolute best in WiFi Mesh features and capabilities, delivering an exceptional WiFi experience in households that are bandwidth-heavy, multi-device, and multi-user, making it an ideal choice for homes with power users and a variety of smart home devices.

For those who want to know the full list of technical features offered by WiFi 6 Mesh, here’s what customers can expect in terms of wireless network performance at home: n WiFi 6 Mesh uses Orthogonal Frequency Division Access (OFDMA), which is a method of data transmission designed to increase network capacity and efficiency.

With OFDMA, the WiFi network can transmit multiple data bits to multiple users at the same time, efficiently and with minimal conflict. This improvement in data transfer efficiency leads to faster speeds and improved network reliability for multi-device households. n WiFi 6 utilizes the 2.4GHz and 5GHz bands, which deliver optimum speeds and a seamless experience to

WiFi 6-powered devices. The tech takes it a step further by doubling access on the latter up to the 160MHz channel width. This wider channel width also leads to increased speeds and an enhanced experience for multiple users. n Multi-user, multiple-input, multiple-output technology (MU-MIMO) allows for more than enough bandwidth for everyone on the WiFi 6 Mesh, to be used for streaming, downloading, playing VR or AR games, or always-online games. That’s because this noteworthy WiFi 6 feature works for uploads and downloads with up to eight streams. n WiFi 6’s BSS or Basic Service Set coloring provides seamless connectivity. Interference from other wireless networks can cause issues with your WiFi signal, and this feature marks your network versus neighboring networks so that your router can ignore them.

Versus its predecessor, WiFi 6 significantly elevates users’ online experience. With increased data transfer speeds, improved capacity to handle multiple devices, and enhanced performance in traffic-dense areas, WiFi 6 delivers a faster and more reliable wireless experience.

Its ability to connect in high-density environments makes it the superior choice for meeting the demands of today’s digital homes.

Today’s internet customers are fortunate to have easy and affordable access to WiFi 6, the latest and best WiFi Mesh technology available in the country through PLDT Home. PLDT Home Fiber customers can now easily elevate their home network with PLDT Home’s all-new TP-Link X55 WiFi 6 Mesh. The TP-Link Deco X55 provides expanded WiFi coverage of nearly 700 sqm with three units along with groundbreaking features that come with WiFi 6 technology to enable simultaneous high-bandwidth activities.

With the WiFi 6-powered TP-Link Deco X55, you can enjoy consistently high-definition video streaming, lag-free online gaming, uninterrupted video conferencing, and seamless functioning of smart home devices, among other benefits. While having a highspeed internet connection powering the household is important, a solid mesh system ensures maximum wireless coverage at home.

As the world fully embraces and thrives in their smart homes in this digital era, PLDT Home customers can easily access TP-Link Deco X55 as an add-on to their Fiber Unli Plan at only P199 per month per unit.

Elevating your WiFi experience has never been more convenient and accessible!

Boost your WiFi network at home by getting the TP-Link Deco X55 mesh system through your PLDT Home subscription. To learn more, visit https://pldthome. com/wifimeshsystem.

Overseas Friends of BJP PHL celebrate grand inauguration of Ram Mandir

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HE Overseas Friends of BJP (OFBJP) Philippines, a non-profit organization representing the Indian diaspora in the Philippines, recently held a series of events to celebrate the historic inauguration of the Ram Mandir, also known as the Ram Janmabhoomi Temple, in Ayodhya, Uttar Pradesh, India.

The Ram Mandir holds immense historical and cultural significance as the birthplace of Lord Rama, a revered figure in Hinduism. The site, which was a subject of dispute for decades, saw the culmination of a prolonged legal and socio-political journey with the Supreme Court of India ruling in favor of the construction of a Hindu temple.

The groundbreaking ceremony in August 2020 marked the official commencement of the construction, and the grand inauguration took place on August 5, 2020, in Ayodhya. The mandir stands as a symbol of cultural and religious harmony, representing a historic moment for the Hindu community worldwide.

In solidarity with the momentous occasion, OFBJP Philippines organized a series of events to celebrate the “glory of Lord Ram” in the Philippines:

n Ram Charitra Manas Path in Hindu Temple, Pasig on January 16. A spiritual gathering at the Hindu Temple in Pasig, featuring the recitation of Ram Charitra Manas, a sacred text narrating the life and teachings of Lord Rama. n Live Streaming of the Inauguration of the Ram Mandir in SM MEGAMALL Cinema Mandaluyong on January 22. The live streaming event brought together devotees and well-wishers. H.E. Shambhu S Kumaran, Ambassador of India to Philippines honored the event by participating in the live broadcast and delivering remarks to the community. n Grand Diya Lighting & Ram Tilak on 22nd Jan at Live Streaming in SM MEGAMALL Cinema.

A ceremonial diya (lamp) lighting and Ram Tilak event was held during the live streaming at SM MEGAMALL Cinema, symbolizing the spreading of light and auspiciousness. n Bike Rally by Students in Las Pinas. A vibrant Bike Rally organized by students in LasPinas to commemorate the grand occasion and raise awareness about the cultural significance of the Ram Mandir.

World Features

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

BusinessMirror

Tuesday, January 23, 2024

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Secret French AWACS surveillance flights keep close watch on Russia and Ukraine

By John Leicester

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The Associated Press

BOARD A FRENCH AIR FORCE AWACS—Off in the distance, Ukraine, fighting for its survival. Seen from up here, in the cockpit of a French air force surveillance plane flying over neighboring Romania, the snow-dusted landscapes look deceptively peaceful.

The dead from Russia’s war, the shattered Ukrainian towns and mangled battlefields, aren’t visible to the naked eye through the clouds.

But French military technicians riding farther back in the aircraft, monitoring screens that display the word “secret” when idle, have a far more penetrating view. With a powerful radar that rotates six times every minute on the fuselage and a bellyful of surveillance gear, the plane can spot missile launches, airborne bombing runs and other military activity in the conflict.

As the second anniversary of Russia’s February 24, 2022, invasion of Ukraine nears, The Associated Press obtained rare and exclusive access aboard the giant Airborne Warning and Control System, or AWACS, aircraft. With 26 military personnel and an AP journalist aboard, it flew a 10-hour reconnaissance mission from central France to Romanian airspace and back, peering with electronic eyes across southern Ukraine and the Black Sea to Russian-occupied Crimea and beyond.

Circling on autopilot at 34,000 feet (10 kilometers), the plane with a proud cockerel painted on its

tail fed intelligence in real time to ground-based commanders.

Its mission for NATO on the eastern flank of the 31-nation military alliance also, in effect, drew a do-not-cross line in European skies.

The plane’s sustained presence high above eastern Romania—seeing and also being seen by Russian forces—signaled how intensely NATO is watching its borders and Russia, ready if necessary to act should Russian aggression threaten to extend beyond Ukraine.

Shields for NATO, pieces of aviation history

REGULAR surveillance flights, together with fighter patrols, ground-based radar, missile batteries and other hardware at NATO’s disposal, form what the commander of France’s AWACS squadron described as “a shield” against any potential spillover.

The “ultimate goal is, of course, no conflict and deterrence,” said the commander, a lieutenant colonel named Richard. Because of French security concerns, the AP was only able to identify him and other military personnel by their ranks and first names.

“We need to show that we have

THE commander of France’s AWACS squadron, a lieutenant colonel named Richard, talks to crew members aboard one of the four French surveillance planes as it flies a 10-hour mission Tuesday, January 9, 2024, to eastern Romania for the NATO military alliance. Because of French security concerns, The Associated Press was only able to identify him and other military personnel aboard the flight by their ranks and first names. Lt. Col. Richard said the powerful radars aboard AWACS surveillance planes give them a “God’s eye view.” AP/JOHN LEICESTER

the shield, show to the other countries that NATO is collective defense,” he continued. “We have the ability to detect everywhere. And we are not here for a conflict. We are here to show that we are present and ready.”

France’s four AWACS are among a variety of surveillance aircraft, including unmanned UAV drones, which gather intelligence for NATO and its member nations.

Lt. Col. Richard said the French

E-3F-type AWACS see for hundreds of kilometers (miles) with their distinctive black-and-white rooftop radar domes, although he wouldn’t be precise.

E - 3s a re mod i f ied Boei ng 707s. The 707 first flew in 1957 but stopped carrying passengers commercially in 2013, so E-3s are also flying examples of aviation history.

“We can detect aircraft, we can detect UAVs, we can detect missiles

The plane’s sustained presence high above eastern Romania—seeing and also being seen by Russian forces— signaled how intensely NATO is watching its borders and Russia, ready if necessary to act should Russian aggression threaten to extend beyond Ukraine.

and we can detect ships. That’s true, for sure, in Ukraine, especially when we are at the border,” Lt. Col. Richard said.

A s t he pl a ne loitered a nd scanned, the crew detected a distant Russian AWACS above the Sea of Azov, many hundreds of kilometers away on the Crimean Peninsula’s eastern side. The Russian aircraft also seemingly spotted the French AWACS: Sensors along the fuselage picked up Russian radar signals.

“We know that they see us, they know that we see them. Let’s say that it’s some kind of a dialogue between them and us,” the French co-pilot, Major Romain, said.

Air Force surveillance drone. The drone crashed into the Black Sea. Rivet Joints are particularly capable spy planes, and Russian authorities “really hate” their ability to snoop on the Ukraine war, said Justin Bronk, a researcher at the Royal United Services Institute defense think tank in London.

As well as gathering “real-time intelligence that theoretically could be shared with Ukrainian partners,” the planes also furnish “fantastic” insight about “how Russian forces actually operate in a real war,” Bronk said in a phone interview.

“So of course, the Russians are furious,” he said.

Hawk-eyed AWACS on call to safeguard the Olympics

In the skies, regular encounters

NATO also has its own fleet of 14 AWACS, also E-3s. They can detect low-flying targets within 400 kilometers (250 miles) and higher-flying targets another 120 kilometers (75 miles) beyond that, the alliance says. It says one AWACS can surveil an area the size of Poland; three can cover all of central Europe.

Able to fly for 12 hours without refueling, French AWACS aren’t limited to surveillance, communications and air-traffic control missions for NATO. They expect to be deployed as part of the massive security operation for the Paris Olympics, providing additional radar surveillance with what Lt. Col. Richard called their “God’s-eye view.”

Russian pilots have at times made clear that they don’t like being watched.

In 2022, a Russian fighter jet released a missile near a British air force RC-135 Rivet Joint surveillance aircraft that was flying in international airspace over the Black Sea, Britain’s government said. The US government released video in March 2023 of a Russian fighter jet dumping fuel on a US

NATO also scrambles fighter jets to scope Russian flights. It says allied aircraft took to the skies more than 500 times in 2022 to intercept Russian aircraft that ventured close to NATO airspace.

The number of such encounters dropped to more than 300 in 2023, according to the Brusselsheadquartered alliance.

The strengthening of Ukrainian air defenses with Western weaponry may partly explain the decrease, with shoot-downs seemingly making Russian pilots warier. NATO observed reduced activity by manned Russian flights over the western Black Sea last year.

NATO says “the vast majority of aerial encounters between NATO and Russian jets were safe and professional” and that Russian incursions into NATO airspace were rare and generally short.

Aboard the French flight, the co-pilot, Major Romain, said Russian planes haven’t intercepted a French AWACS “for a long time” and that if they did, French pilots would try to defuse any tension.

“Our orders are to be, let’s say, passive,” he said. “For a civilian, let’s say ‘polite.’”

UK Post Office scandal: Parliamentary body seeks to speed up compensation for victims

By Brian Melley

The Associated Press

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ONDON—Lawmakers trying to get to the bottom of one of Britain’s gravest injustices were questioning bosses of the Post Office and Fujitsu on Tuesday as momentum grew to compensate and clear the names of more than 900 Post Office branch managers wrongly convicted of theft or fraud because of the Japanese company’s faulty computer system.

The Commons’ Business and Trade Committee is trying to determine how to speed up compensation for the victims. Prime Minister Rishi Sunak has vowed to introduce unprecedented legislation to reverse the convictions, following a television docudrama that created a huge surge of public support for the former postmasters.

“This is one of the greatest miscarriages of justice in our nation’s history,” Sunak said. “People who worked hard to serve their communities had their lives and their reputations destroyed through absolutely no fault of their own. The victims must get justice and compensation.”

In addition to the parliamentar y committee, a public inquiry into the matter is underway. Police are also investigating possible charges related to the investigation and prosecution.

Some things to know about the scandal:

What happened?

AFTER the Post Office rolled out the Horizon information technology system, developed by Fujitsu, in 1999 to automate sales accounting, local Post Office managers began finding unexplained losses they were responsible to cover.

The state-owned Post Office maintained Horizon was reliable and accused branch managers of dishonesty. Between 2000 and 2014, around 900 postal workers were wrongly convicted of theft, fraud and false accounting, with some going to prison and others forced into bankruptcy.

In total, more than 2,000 people were affected by the scandal. Some killed themselves or attempted suicide. Others said their marriages fell apart and reported becoming community pariahs.

A group of postal workers took legal action against the Post Office in 2016. Three years later, the High Court in London ruled that Horizon contained a number of “bugs, errors and defects” and that the Post Office “knew there were serious issues about the reliability” of the system.

“Failures of investigation and disclosure were so egregious as to make the prosecution of any of the ‘Horizon cases’ an affront to the conscience of the court,” Justice Timothy Holroyde said.

To date, just 95 convictions have been overturned, Post Office minister Kevin Hollinrake said.

Why now?

THE moment of reckoning was a long time in the making, but it was turbocharged by a four-part television docudrama that aired earlier this month and fueled public outrage that led to days of bruising headlines about the Post Office and sparked a swift response by lawmakers.

The ITV show, “Mr. Bates vs the Post Office,” told the story of branch manager Alan Bates, played by Toby Jones, who has spent nearly two decades trying to expose the scandal and exonerate his peers.

IN this screengrab from video of the Post Office Horizon IT Inquiry, Post Office investigator Stephen Bradshaw gives evidence to phase four of the inquiry at Aldwych House, central London, England on Thursday, January 11, 2024. Lawmakers trying to get to the bottom of one of Britain’s gravest injustices are questioning bosses of the Post Office and Fujitsu on Tuesday as momentum grew to compensate and clear the names of more than 900 Post Office branch managers wrongly convicted of theft or fraud because of the Japanese company’s faulty computer system. POST OFFICE HORIZON IT INQUIRY/PA VIA AP

Despite hundreds of news stories over the years about court hearings and the continuing public inquiry, the show seen by millions rapidly galvanized support for victims of the injustice.

More than 1 million people signed an online petition calling for former Post Office chief executive Paula Vennells to lose her Commander of the Order of the British Empire title she received in 2018. She has said she would relinquish the honor.

New attention was paid last week as the public inquiry resumed on television with all eyes on Stephen Bradshaw, a Post Office

investigator, who appeared rattled as he was accused of bullying and intimidating suspects who said he accused them of lying.

Bradshaw denied the claims.

Who was affected?

POST Office branch owners and employees typically lived in the communities where they operated, and many became outcasts when accused of stealing.

Lisa Brennan, a former clerk at a post office in Huyton, near Liverpool, told the inquiry that after being falsely accused of stealing 3,000 pounds ($3,800) in 2003,

her marriage fell apart, she lost her house and she ended up homeless with a young daughter.

“It’s scandalous, it should never have happened,” she told the inquiry in 2022. “I wasn’t the only one, but that’s what I was told: ‘It’s only you, you’re the only one.’”

Janine Powell, a former subpostmistress in Tiverton in Devon who was accused of stealing around 71,000 pounds ($90,000), said she felt broken by being sentenced to 18 months in prison after being convicted in 2008.

She had to leave her three children, who ranged in age from 10 to 18 at the time, and that strained their relationship. She harmed herself, considered suicide and struggled to get a job after her release.

“It had a big impact. You have to declare obviously that you’ve got a criminal record,” Powell said. “When you try to explain (to employers), it’s a ‘no’ straight away, so I couldn’t work.”

What compensation could they receive?

THE government plans to set aside 1 billion pounds ($1.28 billion) to compensate the wrongly convicted and others whose lives were destroyed in the scandal.

To date, a total of nearly 150 million pounds has been paid to more than 2,500 victims, Sunak said.

The legislation envisioned would quash convictions and award those who have been cleared at least 600,000 pounds ($765,000), the government said. They could receive more if they go through a process to assess their claim.

Those who were not convicted but lost money would be offered at least 75,000 pounds ($95,000).

The government said there is a chance that some postal employees who did commit fraud or theft could end up being exonerated and receive compensation.

“The risk is that instead of unjust convictions, we shall end up with unjust acquittals and we just do not know how many,” Hollinrake said. “But we cannot make the provision of compensation subject to a detailed examination of guilt.”

Is anyone being held accountable?

IN addition to the inquiry, a committee in Parliament is questioning the chief executives of the Post Office and Fujitsu on Tuesday.

Hollinrake said the inquir y will identify the organizations and individuals responsible for the scandal. Some members of Parliament have called for prosecuting those who allowed postmasters to take the blame for the faulty software.

“Will the government accelerate the investigations to convict those who are really guilty of causing this scandal by perverting the course of justice?” said David Davis, a Conservative member of the House of Commons.

Earlier this month, police in London said they were investigating potential fraud related to money the Post Office received as a result of prosecutions or civil actions against postal workers. They are also looking into possible perjury or perversion of justice charges over the Post Office’s investigation and prosecution of the cases.

The Associated Press writer Sylvia Hui in London contributed to this report.

Djokovic in reflective mood M

ELBOURNE, Australia— Achieving yet another record at the Australian Open put Novak Djokovic in a reflective mood, revealing how he thought things might change after he’d clinched that historic 24th major title.

Djokovic played his best two sets “in a while” in a 6-0, 6-0, 6-3 demolition of Adrian Mannarino on Sunday to reach the quarterfinals at a major for the 58th time, equaling Roger Federer’s Grand Slam record.

It’s his 14th run to the last eight at Melbourne Park, where his conversion rate is incredible. Of the previous 13, he’s gone on to win 10 Australian titles.

“I thought maybe I would this year feel slightly more relaxed, for lack of better term, or maybe less tension, less stress on practice sessions, matches,” he said. “But it’s not. It is as it always was: very high intensity.”

The 36-year-old Djokovic is meticulous in his planning and preparation and has had unprecedented success at the Grand Slam events in the Open era.

Even with two more major titles than any man in history, he said he can’t relax and just enjoy it.

“You can see it even today. I was 6-Love, 2-Love up. It was a long game, and I was like going on with discussions, heated discussions, with my box,” he said. “The fire is still

Sports BusinessMirror

B8 | Tuesday, J

anuary 23, 2024 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

burning.

“I’m not playing anymore because I need more money or I need more points or whatever. I just want to play. I really enjoy the competition.”

In the quarterfinals he’ll be facing No. 12-ranked Taylor Fritz, who reached the last eight in Australia for the first time with a 7-6 (3), 5-7, 6-3, 6-3 win over 2023 runner-up Stefanos Tsitsipas.

Djokovic was in his post-match news conference when Fritz and Tsitsipas were still on court. He was asked about both potential rivals, and said he was confident if he played to his level.

Dayana Yastremska and Linda Noskova, meanwhile, reached their first Grand Slam quarterfinals in contrasting fashion.

Yastremska beat two-time champion Victoria Azarenka, 7-6 (6), 6-4, while 18th-ranked Elina Svitolina was trailing Noskova 3-0 when Svitolina retired with a back injury.

Azarenka served for the first set twice and had two set points at 6-5 but couldn’t take them and Yastremska won the opening set on her second chance after 74 minutes. The Ukrainian then led 3-0 in the second set but Yastremska won six of the next seven games to clinch victory, ending with 37 winners.

“I think I need to take a thousand breaths because my

heart I think is going to jump out of my body,” Yastremska said.

“During the match, I was imagining how I lost already like 25 times. I was losing the tiebreak, second set I was losing, I always felt I was running behind the train. But because I’m a little bit of a fighter I think I won this match and plus the support, it was amazing.”

There was no handshake, as is the convention between Ukrainian and Russian and Belarusian players, though Yastremska raised her racket toward Azarenka.

The first game of the NoskovaSvitolina match lasted 11 minutes and contained 20 points. Noskova broke serve and held for 2-0 before Svitolina had a timeout and received treatment on her lower back.

When she resumed, the Ukrainian’s serve speed was well down and her movement appeared compromised.

After being broken for a second time and fighting back tears, Svitolina shook Noskova’s hand and retired.

Svitolina said the injury happened at the end of the first game.

TCC Invitational tees off Tuesday with tough cast

NOVAK DJOKOVIC achieved yet another record at the Australian Open and so do Dayana Yastremska and Linda Noskova. AP

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“I got a spasm, like a shooting pain,” she said.

“Couldn’t do anything, completely locked my back, just very sad. I had some injuries to my back before where it just was tiredness the next day of the match, but this one was really out of nowhere. I felt like someone shot me in the back.”

Noskova beat top-ranked Iga Swiatek in the third round.

“Obviously today was not the way I had planned to win,” she said. “I feel sort for Elina, I hope she gets very well soon.”

Groseclose saves best for last, almost bags bronze in Gangwon BUHAIN

VARGAS

Palace supports Asian age group swimfest at NCC

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ALACAÑANG threw its support of the country’s hosting of the 11th Asian Age Group Championships from February 26 to March 9 at the New Clark City Aquatics Center in Capas City, Tarlac.

The Palace directed all government agencies and instrumentalities to provide necessary assistance to ensure the success of the championships through Memorandum Circular 43 signed by Executive Secretary Lucas Bersamin last January 17.

Officials of the organizing Philippine Aquatics Inc. thanked Malacañang for the support with secretary-general Rep. Eric Buhain calling if “the buoy that saves the success.”

“And just like that, we’re off to a very fine sailing start of this first-ever endeavor for the PAI for the year,” Buhain, Batangas First District congressman, said. “The whole Philippine aquatics community thanks our beloved President Ferdinand “Bongbong” Marcos Jr. for his support.”

The Palace directive also encouraged the private sector to extend assistance to the event coorganized by the Bases Conversion and Development Authority and Philippine Olympic Committee.

“The Memorandum Circular 43 is a clear marching order for us to go all out of our way and host what could be the best-ever Asian Age-Group Championships,” PAI president Miko Vargas said.

Some 1,400 swimmers in Asia are expected in the tournament with 44 Filipinos—22 boys and 22 girls—swimmers, eight divers—four boys and four girls—and two artistic swimmers seeing action.

TONY LASCUÑA: It will take a lot of effort to win.

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By Josef Ramos

ANGWON, South Korea—Peter Groseclose finished fifth in his final event in short track of speedskating at the fourth Winter Youth Olympic Games on Monday.

It could have been potentially a bronze medal.

Groseclose was skating in third in the final of the 500 meters but collided with China’s Zhang Bohao and lost momentum.

“I got tripped,” said the 16-yearold Filipino-American who had to be treated in a hospital for a wound in his foot caused by the blade of his skates.

The US’s Sean Boxiong Shuai won the gold medal with a clocking of 41.498 seconds, followed by China’s Zhang Xinzhe (41.755) and Hungary’s Dominik Gergely Major (41.969).

Bohao was fourth in 45.685 seconds in the event that had a start list of 36 athletes.

“It’s still fifth overall—or five out of 36 entries,” Philippine Olympic Committee (POC) President Abraham “Bambol” Tolentino said.

“The Philippines is proud of Peter’s accomplishment despite what happened. Nothing to be ashamed of.”

“I think it was my blade that cut the right side of my foot, but I’m okay,” said Groseclose, who earlier raced in the 1,500m and 1,000m.

“Close to the bronze but still so much to be proud of,” chef de mission Ada Milby said. “Still our best finish ever in a winter sport at an Olympic event.”

Laetaz Amihan Rabe, meanwhile, has adapted to the slopes of the Welli Hilli Park Ski Resort in Hoengseong and is ready for action in women’s slopestyle of free skiing set on Wednesday.

“I felt nervous but since I already arrived here [Friday], I started to feel

calm now as I see the other athletes and they seem quite nice and relax,” said Rabe, the country’s flag bearer in the opening ceremont last Friday.

“I have already seen park and it’s not bad as I thought.”

Rabe is a 14-year-old daughter of Ric from Cotabato City and Aileen from Malolos who are now residents of Switzerland.

She suffered minor bruises in her jawline after crash while training Monday.

“It’s no big deal,” said Rabe, who will also compete in the big air on Sunday.

“I’m so honored and humbled to represent the Philippines while facing my biggest challenge at hand,” said Rabe, who met Philippine Olympic Committee president Abraham “Bambol” Tolentino and secretarygeneral Atty. Wharton Chan during the opening ceremony.

“He’s very friendly,” she said of Tolentino. “I’m thankful and proud that I finally met him.”

LAETAZ AMIHAN RABE (right) with POC President Abraham Tolentino.

Power Spikers tryouts slated in ‘Baste’ gym

C MANDY

MILKA

APITAL1 Solar Energy, determined to make heads turn in the coming Premier Volleyball League (PVL), will hold a two-day tryout at the San Sebastian College-Recoletos (SSC-R) gym starting Wednesday.

Multi-titled SSC-R coach Roger Gorayeb, tasked by sisters Milka

ITF lifts suspension on Philta

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HE country is back in the fold of the global tennis community following the International Tennis Federation’s (ITF) lifting of its suspension of the Philippine Tennis Association (Philta) on Sunday.

“I am pleased to confirm that the ITF Board of Directors has decided to lift the suspension of the Philippine Tennis Association [PHILTA]… in accordance with Article 5 of the ITF Constitution,” ITF president David Haggerty said in a letter dated January 21 to Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino.

“I would like to thank you and your team, particularly Mr. Ramon Suzara, for your proactive approach to resolving Philta’s governance issues in accordance with our shared values of good governance, transparency, and accountability,” Haggerty said.

“Philta’s return to active ITF membership is a significant moment for tennis in the Philippines and the Asian region, and the ITF is highly motivated to support Philta in its efforts to develop, grow and promote the sport in the coming years,” he added.

Tolentino thanked Haggerty and the ITF for their swiftness in reinstating the Philta, which was suspended for three years on governance issues.

“The POC would like to thank

Mr. Haggerty and the ITF for lifting the suspension that would allow Philippine tennis to get back on track,” Tolentino said.

The POC became an ad hoc administrator for tennis with Suzara heading a task force with Robert Joseph Moran (soft tennis) and Ting Ledesma (table tennis) as members until the association constitution was revised in consonance with ITF regulations and approved by the world governing body.

The ITF-ordered and POCsupervised elections of the members of the Philta board of trustees were held last December 11 at the Century Park Hotel in Manila with Parañaque City Mayor Eric Olivarez being named president.

Also elected were Olongapo City mayor Rolen Paulino as vice president, Calabarzon’s Gerardo Alcala as treasurer and Mimaropa’s Theodore Jose Matta as internal auditor.

The other members of the board voted independently by their respective regions were Bicol’s Franzes Khu Camacho,Western Visayas’s Theodore Dy, Ilocos Region’s Elmaerwin Sibucao, Mindanao’s Gilbert Paylado, Cordillera Autonomous Region’s Dickerson Laruan, Cagayan Valley’s Fernando Silapan, Eastern Visayas’s Joile Mondragon, Central Visayas’s Jean Henri Lhuiller, Caraga’s Dyan Castillejo and April Toledo for Gender Equity.

and Mandy Romero to handle the Power Spikers, will supervise the tryouts.

Close to a hundred players from clubs, colleges and universities have signified to join the tryouts for the “newest kid on the block” squad.

The Romeros are already thrilled in their initial foray in the sporting world although both are resigned

to the idea that they have to go through the proverbial eye of the needle before beating the league giants.

Milka was a former co-captain of the Ateneo football team while Mandy, graduated Magna Cum Laude at Georgetown University in Washington DC, and is a Muay Thai practitioner.

HE stage is set for a compelling clash of will and character as The Country Club (TCC) Invitational reels off Tuesday where former champions, emerging stars and the top 30 players from last year’s Philippine Golf Tour Order of Merit battle in a survival of the fittest at the TCC course in Santa Rosa City.

The P6-million event marks the kickoff of the premier circuit, promising four days of intense competition and a customary wild finish that has elevated this tournament to the status of a golfing major, renowned for its prize fund, top-tier participants and prestige.

But the elite field faces a daunting week at TCC, characterized by soft bunkers, sleek surface and relentless winds that are expected to test the golfers on every hole throughout the tournament.

The wind factor was palpable during Monday’s traditional pro-am tournament with 2004 titlist Tony Lascuña also highlighting the difficulty posed by the course’s length.

The challenges extend to reaching par-4s even with a rescue club, emphasizing the necessity for a solid short game to contend in these demanding conditions.

“It will take a lot of effort [to win again]. While I may be giving away some yards off the mound, I expect to compensate for this with my 3-wood or rescue,” said Lascuña, who tied for third with Korean-American Micah Shin last year.

Guido van der Valk romped away with a five-stroke victory over Lloyd Go, achieving a rare back-to-back feat in the blue-ribbon event offering P2 million to the winner. Mulling over the upcoming challenge, van der Valk said: “I will need to play great golf.

As it is a tough course, it will take every skill as a golfer to get it around, technical and mental.”

Like Lascuña, the Dutchman said that being “super long” isn’t that necessary but stressed the importance of hitting it well and being sharp in every aspect of the game.

“As long as I hit it good, I’m long enough to play the course. Also, all of your game needs to be sharp to play the course,” said van der Valk, who nipped Clyde Mondilla by one in 2020 before the event was put on hold due to pandemic.

The multi-titled Mondilla and reigning OOM winner Jhonnel Ababa emphasized the importance of a strong short game to navigate through hazards, while three-time champion Angelo Que has prepared for a mental test in pursuit of a record fourth championship in the event put up by International Container Terminal Services Inc. chairman and CEO Ricky Razon in 2003.

“I worked on mental preparation and it’s a big motivation to try and achieve a fourth championship,” said Que, who won in 2007, 2010 and 2011.

Organized by Pilipinas Golf Tournaments Inc. and supported by official apparel Kampfortis Golf, the championship boasts of a mix of experienced players and rising talents.

Other past winners such as Miguel Tabuena (2017) and Shin (2018) are joined by young guns like Go, Ira Alido, Keanu Jahns, Rupert Zaragosa, Sean Ramos, Korean Hyun Ho Sho, Elee Bisera and Gabriel Manotoc, adding excitement to the event.