BusinessMirror January 26, 2022 by BusinessMirror

PHL races to plug gaps in maritime sector By Lorenz S. Marasigan @lorenzmarasigan

HE Maritime Industry Authority (Marina) is confident that it will pass the industry review of the European Maritime Safety Agency (Emsa), as it aims to complete the rectification of the industry’s deficiencies to meet international standards within the week. In a phone interview, Marina Administrator Robert A. Empedrad said the Emsa has given Marina until March 10 to submit a report on the corrective measures that the industry has implemented

to be compliant with international standards on seafaring. “In March 2020, Emsa said there were 13 major findings, three minor findings, and 48 specific findings. We addressed them by coming up with policies and implementing these policies while giving updates to the European Commission,” he said. As of today, Empedrad said Marina has reduced the major findings to nine, addressed all three minor ones, and cut specific findings to 23. Out of the nine major findings, he added, only four are pending on Marina’s list. “We are coming up with our final report within the week. It’s still a

work in progress, but the deadline is on March 10,” he said. Empedrad said agency representatives will be coming to Brussels to “physically present the corrective measures and answer any clarifications in person.”

Sending SOS to the DFA The Marina chief, however, admitted that his team will also need the support of the Department of Foreign Affairs. “We need political backup this time,” he said. Empedrad added Marina is putting prime importance on this issue, as 50,000 seafarers will be put

at risk if Marina fails to address the findings of the Emsa. He also fears that there will be a “domino effect” on other countries if the industry does not emerge victorious from this issue. Despite this, Empedrad is still bullish that Marina will be able to win this case. “I am very confident of a positive outcome,” he said. “However, if we get a negative decision, our seafarers who still have their licenses will still be able to work until the expiration of their license. Nonetheless, in the event of a negative outcome, we will appeal.”

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Wednesday, January 26, 2022 Vol. 17 No. 110

P25.00 nationwide | 2 sections 18 pages | 7 days a week

‘RELIANCE ON SERVICES COULD WEAKEN GROWTH’ By Cai U. Ordinario @caiordinario

MALLGOERS pass by a Chinese New Year installation depicting a Water Tiger, at SM North Edsa in Quezon City on Tuesday, January 25, 2022. The Chinese Lunar New Year is celebrated in the country as a special nonworking holiday, but the local government of Quezon City has prohibited mass gathering activities as a precaution against the spread of Covid-19, while the city is under Alert Level 3. NONOY LACZA

By Bianca Cuaresma @BcuaresmaBM & Jovee Marie N. Dela Cruz @joveemarie

HE Bangko Sentral ng Pilipinas (BSP) has given assurances that the growth of consumer prices will be tamer this year, but warned of potential uncertainties due to the evolving nature of the pandemic around the world. See “BSP,” A2

HE Philippine economy’s strength remains its greatest weakness this year, especially if vaccinations will not be ramped up, according to the ASEAN+3 Macroeconomic Research Office (AMRO). Based on the Quarterly Update of the A SE A N+3 Reg iona l Economic Outlook (AREO), the Philippine economy is expected to post growth of 6.2 percent in 2022, a downward revision from AMRO’s October projection of 6.7 percent. In a briefing on Tuesday, AMRO Chief Economist Hoe

Ee Khor said consumption spending will remain the primary growth driver of the Philippine economy owing to the services sector’s share in the economy. “[The Philippines has] a very services-oriented economy. If they are able to open up the economy more fully, that will help the service sector recover more robustly. But at the same time, because of the high dependence on the services sector, if they have to close down for any reason because of the outbreak [or a] more infectious and more severe mutation of the virus, [the economy will See “Services,” A2

Making digital trade accessible is ‘complex’ task By Tyrone Jasper C. Piad @Tyronepiad

HE digital economy needs to have a conducive environment for trading given that it provides new opportunities, in addition to greater participation, to companies of all sizes, the World Trade Organization (WTO) and World Bank (WB) Group said. In a joint policy note titled “The Role of Trade in Developing Coun-

tries’ Road to Recovery,” the WTO and WB said that making digital trade even more accessible “remains a complex endeavor.” This, despite digital trade opening up new opportunities for the business sector amid the pandemic. The report noted that developing countries are having more engagement in digital trade as exporters of high-value digital services. The intergovernmental organizations noted that digital trade

requires modern telecommunications infrastructure and specific digital skills and entrepreneurship, apart from a favorable business environment. In addition, the report cited the importance of an efficient trade facilitation and logistics for e-commerce deliveries. Both organizations said it would also bode well for the digital trade to have international rules. “Preferential trade agreements

[PTAs] have been at the forefront of global digital governance. Rules on digital trade are growing in both scope and depth, as well as in importance in trade negotiations, both at the regional and bilateral level,” they said. The provisions include the “applicability of WTO and PTA rules to e-commerce, to the nondiscriminatory treatment of like See “Digital trade,” A2

PESO exchange rates n US 51.3120 n japan 0.4504 n UK 69.2148 n HK 6.5903 n CHINA 8.1057 n singapore 38.1332 n australia 36.6368 n EU 58.1211 n SAUDI arabia 13.6799

Source: BSP (25 January 2022)

Wednesday, January 26, 2022

BusinessMirror

POGOs shed more jobs, working foreign nationals fewer by 34% By Samuel P. Medenilla @sam_medenilla

HE number of foreign nationals (FN) with Alien Employment Permit (AEP) in the country dropped by 34 percent last year as Covid-19 continues to disrupt business operations. This as more Philippine Offshore Gaming Operators (POGO), which mostly employ FNs, continued to shed more jobs last year. Based on the preliminary data of the Department of Labor and Employment (DOLE), the number of AEP holders last year dropped to 69,554 from 106,609 in 2020. AEPs is a document a FNs must obtain

Digital trade. . . Continued from A1

digital products, as well as commitments not to impose custom duties on digital products and to liberalize digital trade in services.”

Cross-border data policies The WTO and WB also mentioned the importance of putting up a regulatory framework for digital policies, including cross-border data governance and platform regulation. Earlier, the United Nations Conference on Trade and Development (Unctad) also

from DOLE to be allowed to work in the country for more than six months. Of the FNs displaced last year, 35,067 were previously employed by POGOs. This was around half for the 79,017 FNs employed in POGOs in 2020.

Despite the reopening of more businesses this year, Labor Assistant Secretary Dominique R. Tutay said they do not expect the number of FNs in the country to rebound anytime soon. “It may not rebound this year, but it might be at the same level [as last year],” Tutay told the BusinessMirror in a Viber message. Last Friday, Labor Secretar y Sil-

vestre H. Bello III issued Labor Advisor y No. 14 series of 2022 assigning 385 labor inspectors to validate AEPs and monitor the compliance of their establishments with government regulations, including Covid-19 protocols. They will inspect the list of AEP applicants, the list of FNs working at the time of verification, and the roster of local employees. Through the inspection, they are usually made aware about the number of AEPs, who lost their jobs. “These workers will automatically have their AEPs canceled,” Tutay said. However, the affected FNs will be allowed to look for a new job, which can hire them.

said that the global community should enable digital data to flow freely across borders, raising the need to develop an international framework to allow such activities. “It is more important than ever to embark on a new path for digital and data governance,” UN Secretary-General António Guterres said. “The current fragmented data landscape risks us failing to capture value that could accrue from digital technologies and it may create more space for substantial harms related to privacy breaches, cyber attacks and other risks.” In the Philippines, the National Privacy Commission urged the local companies to

use tools that can integrate data management and cross-border transfer standards across the region, including Model Contract Clauses (MCCs) and Data Management Framework (DMF). According to NPC, MCCs are voluntary standards that Asean companies may enforce in legally binding contracts to make sure customer data are protected during cross-border transfers. “Meanwhile, the DMF is a voluntary and non-binding guidance for Asean businesses to establish a data management system and governance structure that appropriately safeguard different kinds of data,” the privacy agency noted.

Unlikely rebound

Services. . .

Continued from A1

suffer],” Khor explained. Khor said that while Covid-19 vaccinations in the Philippines have improved and reached 50 percent of the population, the government needs to increase vaccinations to above this level to make the economy more resilient. “We need to ramp up the vaccination even higher in order to protect the population...That will be able to keep the economy much more open for a longer period of time,” Khor said.

Maintaining rates

In terms of inflation, AMRO projects inflation this year to average 3.3 percent, slightly higher than their October forecast of 3.2 percent. This is still within the inflation target of the country’s monetary authorities this year. Despite the slightly higher forecast, Khor said, inflation will remain tame this year. This will give central banks, including the Bangko Sentral ng Pilipinas (BSP), room to maintain interest rates. Khor said the BSP, specifically, can hold on to the current rates until the Philippine economy is completely recovered. “Together with the fact that the actual position of the Philippines is quite strong, it will provide room for the BSP to hold interest rates until the economy’s more fully recovered.” This remains to be AMRO’s view despite the unexpected rise in oil prices. Khor said they were “surprised” that oil prices are now hovering at above $80 per barrel. As of January 25, WTI crude oil prices increased to $83.92 per barrel; Brent crude, $87/bbl; and Dubai crude, which is what the Philippine imports, averaged $83.29/bbl. It may be noted that countries like the Philippines are net oil importers. This means, the majority of the country’s oil needs are imported from other countries. Khor admitted that there are speculations that oil prices would reach $100/bbl, but this view is not shared by AMRO. “Our own view is that you know, that this year, [we expect] supply to pick up again and because of the slowdown of the global economy, there will be a rebalancing of demand. And, we see oil prices correcting to some extent,” Khor said. “If the global economy continues to recover this year as we expect, then oil prices are likely to be sustained at the current level. But we don’t expect oil prices to go up to $100 as some analysts expect,” he added.

Regional growth

AMRO expects the ASEAN+3 region to remain resilient in 2022, despite new challenges from the Covid-19 pandemic and the global economy. AMRO said the emergence of the Omicron variant in late 2021 brought new uncertainties and set back the progress of economic reopening. Nevertheless, high vaccination coverage has mitigated the risk of nationwide lockdowns, as experienced during the early days of the pandemic. “The ASEAN+3 region has sufficient policy space to navigate through these new challenges, and stay on its recovery path,” said AMRO’s Chief Economist, Dr. Hoe Ee Khor. “A resurgence of infections continues to be the key downside risk, amplified by lingering global supply chain disruptions and rising global price pressures. While the rise in global inflation is likely to prompt major advanced economies to roll back extraordinary monetary support earlier or more sharply than anticipated, the spillover effects for the region are likely to be limited because of greater resilience,” he explained. AMRO maintained a positive outlook on ASEAN+3 economies for 2022, with regional GDP growth of 4.9 percent and inflation remaining relatively low at 2.9 percent for the year.

DOT. . .

Continued from A10

Africa saw a 12-percent increase in arrivals in 2021 compared to 2020, Middle East arrivals declined 24 percent, and Asia-Pacific arrivals were 65 percent below 2020 levels. The economic contribution of tourism in 2021, measured in tourism direct gross domestic product, was estimated at $1.9 trillion, up some 19 percent from the level in 2020. Export revenues from international tourism, or outbound travel, could exceed $700 billion in 2021, a small increase from 2020 due to higher spending per trip, but less than half the $1.7 trillion recorded in 2019. Average receipts per arrival are estimated to reach $1,500 in 2021, up from $1,300 in 2020, which the UNWTO attributes to “large pent-up savings and longer lengths of stay, as well as higher transport and accommodation prices.”

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BSP. . .

Continued from A1

In its open letter to Malacañang, the BSP said it sees inflation returning to the national government’s inflation target range of 2 to 4 percent for 2022 and 2023 on the back of continued and effective implementation of direct non-monetary interventions. The BSP is mandated by law to write an open letter to the president for each year that they fail to keep inflation within the annual range. In 2021, inflation averaged 4.5 percent— breaching the initial range of 2 to 4 percent and the adjusted assumption of 4.4 percent. The country’s monetary authority, however, warned that this outlook is still subject to “considerable level of uncertainty” given the developments relating to the pandemic. The BSP said Covid-19 developments could affect domestic and external economic conditions for the year. “Nevertheless, we would like to assure the President and the Filipino people that the BSP is closely monitoring developments and challenges brought about by the pandemic to ensure that the monetary policy stance remains consistent with its price and financial stability objectives,” the BSP said in its letter. Inflation will also be hinged on policy reforms to alleviate supply constraints, particularly as risks to the inflation outlook appear to be slightly on the upside for 2022. “These risks are mostly associated with a prolonged shortage in domestic pork supply, along with higher global commodity prices due to improving global demand amid lingering supplychain bottlenecks,” the BSP said. “Meanwhile, downside risks to the inflation outlook continue to emanate from the spread of new Covid-19 variants, which could delay the further easing of remaining containment measures as well as dampen the outlook for global and domestic economic growth,” it added.

Alert sounded

Meanwhile, amid a looming rate hike decision by the US Federal Reserve, an economist-lawmaker on Tuesday urged the country’s economic managers to ensure that the prices of basic commodities remain low. This, House Committee on Ways and Means Chairman Joey Sarte Salceda said, will ensure that the Philippines will not be forced to prematurely retreat from its low-interest monetary policy. “We should already take for granted that the Fed will raise rates. Even if they don’t do so [on Wednesday], they will probably do it several times over 2022, most likely thrice or four times,” Salceda said in a statement. “It threatens the recovery of countries like the Philippines, which are net beneficiaries of US capital. Our close economic partners, such as Japan, will also probably be affected,” Salceda said. According to Salceda, the countervailing or balancing option for the Philippines is to keep policy rates low. “I think that is the predisposition of [BSP] Governor [Benjamin] Diokno. But he and the Monetary Board will be forced to make adjustments if food prices spiral out of control this year,” he said. “So, the best way to ensure that we have a wide range of options, and are not backed into a corner by the developments in the US, is that we keep food prices low. That means winning the fight against ASF, on meat. On fish, we have to boost domestic supply on top of the DA’s plans to import. We also have to mind the prices of fertilizers and other basic crop inputs,” Salceda added.

Vulnerable sector

Salceda also warned of consequences particularly in the garments sector, whose major export market is the United States. “Consumer spending in the US tends to suffer as a result of an interest hike by the Fed. When that happens, garments will take the first hit among our export industries. Other sectors that may see slower growth are electronics and BPO, but probably to a lesser extent. The continued shift to digitalization may even balance out the effect of the rate hike completely,” Salceda said. He cited estimates that some 600,000 Filipinos are employed in the garments export sector. “I am quite worried because 49,000 workers in Albay lost their jobs due to the Global Financial Crisis in 2008. Thus in the Econ Stimulus Plan I proposed to PGMA [former president Gloria Macapagal-Arroyo] was an income replacement and temporary employment program which was to become TUPAD [Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers]. We may need to intensify this effort among affected or displaced workers in these sectors. I expect Albay to need some help, given our high concentration of small exporters,” Salceda added. He said the Department of Trade and Industry should now discuss anticipatory measures as the garment sector is really the most vulnerable sector here. “We could also see lower demand in handicrafts, toys, even fruits and vegetables, and seafood, which are our biggest exports among basic consumer items to the US,” Salceda warned. He hopes that the Financial Stability Coordinating Committee could explain to the House economic recovery cluster its plans to mitigate the impact of the rate hike, particularly on the banking sector.

Senate. . .

Continued from A10

Under the presidential proclamations, the amnesty shall not cover kidnap for ransom, massacre, rape, terrorism and other crimes committed against chastity as defined in the Revised Penal Code as amended, crimes committed for personal ends, violation of RA 9165, otherwise known as the Comprehensive Dangerous Act of 2002, grave violations of the Geneva Convention of 1949, and those identified by the United Nations as crimes that can never, be amnestied such as genocide, crimes against humanity, war crimes, torture, enforced disappearances and other gross violations of human rights. The measures also call for the creation of an Amnesty Commission that shall receive and process applications for amnesty and determine whether the applicants who shall apply are entitled to amnesty under the presidential proclamations. “Indeed, amnesty is an act of compassion on the part of the government. It is a chance to mend our wounds from our constant struggle. More importantly, this is our time to heal. If viewed the same by all parties concerned, then our concurrence may be another step closer towards reconciliation, and ultimately the attainment of lasting peace,” Lacson added.

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Editor: Vittorio V. Vitug • Wednesday, January 26, 2022 A3

DOJ chief: 4 of 52 EJK cases Govt forces slay Mindanao NPA in war on drugs now in RTCs leader, cohort in Bukidnon clash

HE Department of Justice (DOJ) on Tuesday said four of the 52 alleged extrajudicial killings (EJK) committed by police authorities during antiillegal drug operations have so far been filed before the regional trial courts (RTC). Justice Secretary Menardo Guevarra said most of the cases submitted by the Philippine National Police (PNP) are still with the National Bureau of Investigation (NBI) undergoing case build-up. The 52 cases were earlier referred to the NBI by the DOJ-led interagency panel tasked to review antiillegal drug operations where deaths occurred after it observed missing autopsy reports and death certificates, lack of ballistics and paraffin

test results, use of excessive force and contradicting statements of policemen involving these operations. There are more than 150 police officers involved in the 52 cases who might face criminal charges depending on the outcome of the NBI’s case build-up. “Per the initial report of the NBI dated 4 January 2022, most of the 52 cases turned over by the PNP Internal Affairs Service are still under evaluation by the regional offices of the NBI or are presently subject of case build-up,” Guevarra said. The four cases that have reached the courts involving deaths are: Carl Angelo Arnaiz (RTC-Navotas City); Richard Santillan and Gessamyn Casing (RTC-Cainta); Anwar Sawadjaan, Noel Bacalzo, and

Nation mourns passing of biz leader and ex-DFA chief Roberto Romulo By Malou Talosig-Bartolome

OLITICAL leaders, senior members of the foreign service and the business community of the country paid tribute on Tuesday to prominent business leader and former Department of Foreign Affairs (DFA) Secretary Roberto “Bobby” Romulo. Also known “RRR,” Romulo, passed away last Sunday, January 23. He was 83. Vice President Leni Robredo, who got the support of Romulo and 22 Cabinet members of former President Fidel Ramos in December, said she was saddened by the passing of “an exemplary public servant and a gentleman.” “Honored to have received his trust and support. My deepest condolences to his family, as I join a Filipino nation grateful for his service,” she tweeted. Former President Gloria Macapagal-Arroyo also paid tribute to her former adviser on international competitiveness. “Dear Bobby, thank you for helping me craft my foreign policy, choose my ambassadors, engage international business. Rest in peace,” Arroyo wrote during a Zoom call and mass offering hosted by his best friend and former Ambassador to London Jesus Tambunting. Bobby is one of the sons of statesman Carlos P. Romulo, former United Nations General Assembly President, former DFA Secretary and Pulitzer Prize journalist. “One thing about the Romulos, father and sons: they valued excellence, good conduct, and love of country and of American idealism. Bobby epitomized those values in near heroic metrics,” Toni Lopez, chairman and CEO of BizNewsAsia Magazine, wrote in a tribute posted in Carlos P. Romulo Foundation web site. A graduate of Georgetown University and Ateneo de Manila Law School, Romulo rose from the ranks, first as a marketing trainee of tech giant IBM in New York and eventually became general manager and president of IBM Philippines and Thailand. When President Corazon Aquino was catapulted to power in 1986, Bobby Romulo was tapped as one of her business consultants until he was appointed ambassador to Belgium, Luxembourg and the Commission of the European Communities. In 1992, President Ramos appointed him as foreign affairs secretary. His stint as DFA Secretary was marred with controversy, as Filipina domestic helper Flor Contemplacion was hanged in Singapore for killing a fellow Filipina and her ward. Amid furor during a midterm election year, Romulo, along with Labor Secretary Nieves Confesor, quit to save the Ramos administration. Ambassador Enrique Manalo, permanent representative to the

United Nations in New York, said Romulo’s legacy in the Foreign Service is economic diplomacy. “It was during his time as Secretary of Foreign Affairs that the DFA flourished as a veritable arm for economic development at a time when our country was resolutely pushing for economic reforms,” Manalo said. “RRR was a good leader and a true patriot. He believed in our country and had faith in our Foreign Service, which he always supported. It was truly a privilege to have served under him,” Ambassador Evan Garcia, Philippine Permanent Representative to United Nations in Geneva told the BusinessMirror. Romulo rejoined the private sector and held various positions in top companies in the country—chairman of PLDT, vice chairman of San Miguel International, chairman of Interpharma Investments Ltd. (Zuellig Pharma), board member of MIH, independent director of A. Soriano Corporation, Aboitiz Equity Ventures, Singapore Land and UIC. He was also chairman of AIG Philippines Insurance, MediLink Network, and Nationwide Development Corporation. Despite his busy schedule in the private sector, he remained committed to nation building as he founded the APEC Business Advisory Council, and became its chairman of Philippine representation. He was also the chairman of the e-Asean Task Force, a public/private sector advisory council created by the Asean leaders from 1999 to 2001. He was also chairman of nonprofit organizations: Carlos P. Romulo Foundation for Peace and Development, Zuellig Family Foundation, and Asia-Europe Foundation of the Philippines. He is a Cofounder and Trustee of the US-Philippines Society. Zuellig Family Foundation, which announced his passing Monday night, said Ambassador Romulo led them in their mission of improving the health of vulnerable and disadvantaged Filipinos “by helping elected political leaders improve their local health systems and services.” In 2016, he was presented the Arangkada Lifetime Achievement Award by the Joint Foreign Chambers of the Philippines (JFCP). “He has championed many advocacies such as on national competitiveness, the IT-BPO sector, public health care, and disaster preparedness,” the JFCP said in a statement. Philippine Ambassador to Argentina Linglingay Lacanlale likewise heaped praises on Romulo’s courage as columnist of Philippine Star. “As a private citizen, he was fearless in speaking out about the ills that plague the country through his newspaper column. He was a man who genuinely cared for those who had less in life by initiating economic and social programs that would help lift the country and its people out of poverty,” Lacanlale wrote.

Angelo Hofer (RTC-Zamboanga Del Norte); Sharif Amatonding (RTCSan Pedro, Laguna). The killing of Arnaiz, a 19-yearold former student of the University of the Philippines, drew condemnation of the government’s anti-illegal drug campaign. On the other hand, Santillan, former Biliran representative Glenn Chong’s aide, was killed along with his female companion Casing during a police operation in Barangay San Andres, Cainta, Rizal last May 17, 2019. Sawadjaan, 19, Hofer , 20 and Bacalzo, 22, all residents of Ipil Zamboanga, Sibugay were allegedly killed in a shootout with policemen along a highway in Zamboanga del Norte on July 29, 2016.

Senator to DOE: Address possible power shortage during elections By Lenie Lectura

@llectura

HE Senate Energy Committee will launch an inquiry on the plans and preparations of the Department of Energy (DOE) and other industry stakeholders to ensure that there will be no brownouts before, during, and after the May 2022 national elections. Early this month, yellow alerts were issued last January 10 and 11 after power generating units extended their maintenance shutdowns, while others derated their committed generation output. Sen. Sherwin T. Gatchalian noted that when the DOE said in a virtual news conference in August last year that the country will have no power interruption during the election week this year, as the initial outlook shows sufficient supply. The said outlook, however, did not take into consideration forced and unplanned outages and the declining Malampaya supply. Last week, the DOE said that it does not expect yellow alerts in Luzon this year. However, the National Grid Corporation of the Philippines (NGCP) said a day after that operating margins were forecast to be thin from April to June this year. “Thin operating margins [power in excess of demand, which is used to manage and balance the grid] is forecasted in the Luzon grid from April to June due to increase in demand during the summer, which includes the critical election period,” NGCP said in a news statement. Energy Secretary Alfonso Cusi said NGCP is expected to perform its responsibilities that contribute to the adequacy of supply. The DOE is very interested to hear from them about the steps they have taken, or are taking, to address the situation, particularly in preventing the occurrence of a power interruption. As SO (system operator) and GO (grid operator), have they ensured the following: That all capacities at all power stations are available; That all available capacities are connected; That all congestion issues are addressed; That the Grid Operating Maintenance Program (GOMP) was thoroughly planned; That reserves are contracted from a separate pool of capacity for ancillary services which we can tap in cases of emergency. “I have already instructed our Power Bureau to look into these matters,” Cusi said. Gatchalian wants the DOE to address the power supply situation in the country before it gets worse since it has the legal mandate and power to compel industry players to follow policies on energy security.

By Rene Acosta

@reneacostaBM

HE reported second-highest commander of the New People’s Army (NPA) in the whole of Mindanao and his cohort were killed in a recent clash with government forces in Bukidnon, military officials reported on Tuesday. Pedro Codaste alias Gonyong and Serv was killed during a firefight with a combined team of policemen and soldiers on Friday, January 21, according to Armed Forces Eastern Mindanao Command (Eastmincom) commander Lt. Gen. Greg Almerol. Almerol said Codaste and his cohort were killed during a 30-minute clash with government forces and about 15 rebels in Barangay Kalabugao, Impasugong, Bukidnon. The area commander said Codaste was considered as the acting chairman of the NPA’s Komisyun Mindanao (KOMMID) after the deaths of Antonio Cabanatan, Jorge Madlos and Menandro Villanueva. Codaste, Almerol said, was also a member of the Communist Party of the Philippines’ (CPP) Central Committee, a consultant of the National

Democratic Front and deputy secretary of the KOMMID. According to Almerol, the rebel leader was a former secretary of the Guerilla Front 4A (GF4A) in Agusan del Sur during the early ’90s and later became the secretary of the North Central Mindanao Regional Committee in 2009. Eastmincom spokesman Major Alex Mindalano said the combined police and military forces launched their operations at Barangay Kalabugao after villagers reported the presence of armed men, triggering a firefight between the government forces and Codaste’s group. The operating forces recovered an AK-47 assault rifle, a .45 caliber pistol, an anti-personnel mine, three backpacks and rebel documents. Almerol said the death of Codaste

“gives justice to the victims of his atrocitiesinMindanao,”notingtherebelleader had multiple warrants of arrest for murder, double frustrated murder and attempted murder from a regional trial court in Malaybalay City, Bukidnon. He said Codaste’s death should prod other rebels to surrender just like what happened after the deaths of the top leaders of the NPA in Mindanao, including Madlos. “We are seeing a snowball of surrender in the coming days with the successful neutralization of another CTG [communist terrorist group] head. This is possible as the operational balance of the CTG continues to crumble while the morale of their followers depletes after a series of engagements with our troops,” he said. Brig. Gen Oliver T. Vesliño, acting 4th Infantry Division (4ID) commander, for his part, lauded the joint forces for the successful operation which resulted in the death of Codaste as he was considered to succeed the top leadership in Mindanao. “We have once again delivered justice for our people. While we extend our sympathies to the families and friends of those killed, Codaste’s death is a tangible reminder that injustices that brought suffering and numerous deaths will forever haunt us. A clearer manifestation of the people in rejecting the CPP-NPA-NDF,” Vesliño said. With PNA report

A4 Wednesday, January 26, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Palay yield in Q4 2021 may have risen by 1% to 7.46 MMT–PSA By Jovee Marie N. Dela Cruz @joveemarie

HE country’s palay (unhusked rice) production in the fourth quarter of last year may have increased by 1 percent to 7.46 million metric tons (MMT) from 7.39 MMT recorded in the same period of 2020, the Philippine Statistics Authority (PSA) reported on Tuesday. However, the PSA said the updated estimate of palay production for the period of October to December 2021 as of November 1, 2021 was lower by -0.9 percent from its estimate of 7.53 million metric tons as of October 1, 2021. PSA also said the estimated harvest area for the period of October to December 2021 may decrease to 1.796 million hectares or by -0.9 percent, from 1.812 million hectares in

the same period of 2020. PSA said yield per hectare may increase to 4.15 metric tons, from 4.08 metric tons in the same period of the previous year, adding that about 1.028 million hectares or 57.2 percent of the updated standing crop have been harvested. As for the farmer’s planting intentions for October to December 2021, the PSA said 377,480 hectares or 32.1 percent of the perceived area have been actually planted. Of the total area of 1.140 million hectares of standing crop for January to March 2022 harvest, the PSA said 34.7 percent were at the vegetative stage, 21.4 percent at the reproductive stage, and 43.9 percent at the maturing stage. In the same report, the PSA said the country’s updated corn production for the period of October to

December 2021 may increased to 2.13 million metric tons or by 28.8 percent, from its estimate of 1.65 million metric tons in the same period of 2020. But PSA said the updated estimate of corn production for the period of October to December 2021 as of November 1, 2021 was lower by -0.5 percent from its estimate of 2.14 million metric tons as of October 1, 2021. It said harvest area for the period of October to December 2021 may increase to 664,300 hectares, from 561,830 hectares in the same period of 2020. PSA added that yield per hectare may rise to 3.20 metric tons (MT) from the 2.94 MT in the same period of the previous year. A lso, PSA said about 276,520 hectares or 41.6 percent of the upd ated st a nd i ng c rop h ave

been har vested. It reported that around 227,570 hectares or 33.4 percent of the planting intentions for October to December 2021 have been realized. Of the total area for standing corn, which is to be harvested from January to March 2022, the PSA said 40.2 percent were at the vegetative stage, 28.2 percent at the reproductive stage, and 31.6 percent at the maturing stage. Last week, Agriculture Secretary William Dar said the country’s rice production in 2021 likely exceeded 20 MMT. “We will have new record harvest in rice in 2021 surpassing the 2020 record harvest of 19.4 million metric tons, we need to sustain that momentum so that we continue to level up the country’s rice sufficiency level,” he said.

DOTr chief approves issuance of free seaman’s book to 1st time applicants By Lorenz S. Marasigan @lorenzmarasigan

RANSPORTATION Secretary Arthur P. Tugade said on Tuesday the Maritime Industry Authority (Marina) has approved the distribution of free seaman’s book to first time seafarers, while granting a 50-percent discount to those who will file for renewal. “The price of a seamen’s book is around P1,000 to P1,800, depending on where you will get it. For first time seamen, this will be given for free during the term of President Duterte,” he said.

A seaman’s book is used to record sea service on board commercial vessels and fishing vessels. It also contains the information about the vessel as well as the position or rank of its holder. Duterte commended Tugade for this, along with his other initiatives in helping Filipinos during the pandemic. “Your resolve to produce results from your work is commendable. You are an ideal worker of government,” President Duterte said in response to the announcement.

CTAP lauds PPA

IN another development, the Con-

federation of Truckers Association of the Philippines (CTAP) lauded the Philippine Ports Authority (PPA) for implementing a single document serving as Accreditation, Permit to Operate and vehicle pass in all ports controlled by the agency as well as private ports. CTAP President Maria Zapata said the move is “in accordance with the policy direction of the government particularly in the ease of doing business in the country.” “This promotes ease of doing business in the logistics sector by eliminating various permits, licenses and passing through stickers of truckers

by economic zones, ports and local government units,” she added. The new guidelines, which took effect on January 13, dubbed as Transportation Accreditation, Permits and Pass for Ports or TAPPP rationalizes the existing process in consideration of RA 11032 or the Ease of Doing Business and Efficient Gov’t Service Delivery Act. TAPPP is recognized in all ports nationwide. However, this is exclusive of the commercial and technical service arrangements of port service providers and terminal operators to facilitate and expedite transactions with port users.

www.businessmirror.com.ph

Canning industry joins clamor for Senate ratification of RCEP By Tyrone Jasper C. Piad @TyronePiad

OCAL manufacturers of canned tuna and sardines are supporting the ratification of the Regional Comprehensive Economic Partnership (RCEP) Agreement, which is still pending in the Senate. In a news statement issued on Tuesday, the Tuna Canners Association of the Philippines (TCAP) and the Canned Sardines Association of the Philippines (CSAP) sought for the Senate’s concurrence for the mega trade deal. “Our inclusion in RCEP will be instrumental in helping the canning industry recover from the economic setbacks brought on by the global pandemic,” said Francisco Buencamino, who serves as executive director for both groups. RCEP, which entered into force this month, is a free trade agreement among Asean countries and their trading partners including Australia, China, Japan, New Zealand and South Korea. This represents 30 percent of the global gross domestic product (GDP) or $26.2 trillion. The canning industry official said that RCEP would help the local canned tuna sector to be as competitive as its neighbors in Indonesia, Thailand, Vietnam and Malaysia. “Although the tuna industry does not tailor itself to be part of basic necessities food group, its contribution to GNP [gross national product] via its foreign currency export proceeds has always been meaningful for this Mindanao-based industry,” he said. “The canned tuna industry stands to gain from RCEP via the expected increase in domestic demand resulting from the improved economic performance of key sectors such as manufacturing, the service sector and even agriculture due to access

to markets as well as investments.” Apart from being at par with other countries in the region, Buencamino said that the trade deal would also result in job creation for the sardine industry. He noted that the industry and its suppliers provide direct employment to at least 80,000 to 100,000 workers. “A growing export base for the sardine industry will help keep prices for the domestic market more manageable and allow the category to continue to grow,” he said. In separate statements collected by the Department of Trade and Industry, several investment promotion agencies and business organizations also backed the RCEP ratification. These include the Philippine Economic Zone Authority of Freeport Area of Bataan, Aurora Pacific Economic Zone and Freeport Authority, Clark Development Corporation, Cagayan Economic Zone Authority, John Hay Management Corporation, Poro Point Management Corporation, Regional Board of InvestmentsBARMM, Subic Bay Metropolitan Authority, Subic-Clark Alliance for Development Council, Zamboanga City Special Economic Zone Authority and Japanese Chamber of Commerce and Industry in the Philippines. Earlier, local and foreign business groups expressed their support for the same call. “As business associations representing major industrialized economies, we are concerned the Philippines export industry that has been severely hit by the pandemic, will miss out unless this free trade agreement is approved by the Senate,” Canadian Chamber of Commerce of the Philippines President Julian Payne said, warning that non-participation puts the country at a disadvantage compared with other RCEP signatories.

Eisma: Neighbor LGUs to get ₧140.6-M shares from SBMA

LGU shares worth P140.6 million await the beneficiaries from the SBMA Treasury Department. By Henry Empeño | Correspondent

UBIC BAY FREEPORT—Eight local government units (LGUs) surrounding the Subic Bay Freeport will get next week their semi-annual share totaling P140.6 million from the proceeds of business operations in this special economic zone. Subic Bay Metropolitan Authority (SBMA) Chairman Wilma T. Eisma said the allocation represents LGU shares for the second half of 2021 taken from the 5-percent tax paid by business locators Subic. The allocation will give P32,859,441.37 to Olongapo City; P21,145,468.61 to Subic, Zambales; P16,883,070.73 to San Marcelino, Zambales; P12,831,070.73 to Castillejos, Zambales; P11,968,060.18 to San Antonio, Zambales; P17,509,805.94 to Dinalupihan, Bataan; P15,003,180.96 to Hermosa, Bataan; and P12,402,469.66 to Morong, Bataan. Eisma said these are 18 percent smaller than the LGU shares released in August last year, which totaled P166.16 million, but surpassed by more than 12 percent the P123.1 million total given in February 2021. The LGU shares for the first half of the year is released in August, while that for the second half is released in February the next year. The shares are meant to promote parallel development in communities near the free port and enhance LGU projects in tourism,

infrastructure, education, peace and order, health, and livelihood generation. For this batch of LGU releases, Eisma said that the SBMA would do away with the usual check-releasing ceremony as a precaution in face of the recent surge of Covid-19 cases nationwide, including in local communities. “For the first time, I won’t be releasing the checks personally because I want to avoid crowding in pursuit of health protocols that we are enforcing in the Subic Bay Freeport. So, we advise LGU representatives to please claim their checks at the SBMA Treasury instead,” Eisma said. According to SBMA records, the Subic agency has now distributed a total of P2.83 billion in LGU shares since 2011 when the SBMA started releasing shares directly to the LGUs. Previously, the distribution of LGU shares were coursed through the National Treasury. The LGU shares are computed according to population (50 percent), land area (25 percent), and equal sharing (25 percent). The biggest LGU beneficiary ever since is Olongapo City, which received a total of P672.73 million since 2011. It is followed by Subic, Zambales with P427.35 million; Dinalupihan, P353.89 million; San Marcelino, P341.03 million; Hermosa, P293.12 million; Castillejos, P255.68 million; Morong, P246.28 million; and San Antonio, P245.6 million.

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

TheWorld

Germany keeps restrictions as Omicron infections soar

ERLIN—Chancellor Olaf Scholz and Germany’s 16 state governors decided Monday to keep existing coronavirus restrictions in place and examine how best to use increasingly strained PCR test capacities as the highly contagious Omicron variant fuels a steep rise in infections. Germany has hit a series of daily infection records over the past two weeks as Omicron has spread. On Monday, the national disease control center said 840.3 new cases per 100,000 residents have been recorded over the past week. The health minister has said he expects the numbers to peak in mid-February. On Jan. 7, Scholz and the governors agreed to toughen requirements for entering restaurants and bars and decided to shorten quarantine and self-isolation periods. Scholz said Germany’s relatively tough restrictions on private gatherings, large gatherings and other things helped delay until now the arrival of very high infection rates, “much later than in many neighboring countries; nevertheless these are very high infection figures, and so we must remain cautious and will stick to this course.” The leaders did not add new restrictions for now. German health officials have advocated prioritizing the use of PCR tests for health care employees, older people and others particularly at risk as the Omicron onslaught strains capacity. Scholz said the leaders asked the federal and state health ministers to produce a “strategy balanced out to the last detail to make possible a good oversight of infections.”

Although infections are rising fast, that hasn’t so far been accompanied by a big increase in hospital admissions. But officials worry that Germany has a high number of unvaccinated older people in comparison with some other European countries. Scholz acknowledged that the pace of vaccination has eased off again after picking up last month, and announced a new campaign to pep up the campaign again. As of Monday, 73.4 percent of the population had been fully vaccinated and 50.4 percent also had received a booster shot. German lawmakers are expected to hold a first debate Wednesday on a possible universal vaccination mandate, which Scholz supports but has left to parliament to design. Berlin is seeing a particularly steep spike in Covid-19 cases at present—on Monday, the five districts with Germany’s highest infection rates were in the capital. The Mitte district, where the chancellery is located, topped the list with 2,842.9 new cases per 100,000 residents over the past week. The city’s education minister, Astrid-Sabine Busse, announced Monday that Berlin students would no longer be obliged to attend school until the end of February, but that schools would be kept open for those students who still wanted to go there. The decision came after Berlin public health officers said they would no longer conduct contact tracing or send immediate contacts of infected children into quarantine. AP

WHO leader warns against talk of pandemic ‘endgame’

E N E VA —T h e W o r l d Hea lth Organization’s director-general on Monday warned that conditions remain ideal for more coronavirus variants to emerge and it’s dangerous to assume Omicron is the last one or that “we are in the endgame.” But Tedros Adhanom Ghebreyesus said the acute phase of the pandemic could still end this year if some key targets are met. Tedros laid out an array of achievements and concerns in global health over issues like reducing tobacco use, fighting resistance to anti-microbial treatments, and risks of climate change on human health. But he said “ending the acute phase of the pandemic must remain our collective priority.” “There are different scenarios for how the pandemic could play out and how the acute phase could end. But it’s dangerous to assume that Omicron will be the last variant or that we are in the endgame,” Tedros told the start of a WHO executive board meeting this week. “On the contrary, globally, the conditions are ideal for more variants to emerge.” But he insisted that “we can end Covid-19 as a global health emergency, and we can do it this year,” by reaching goals like WHO’s target to vaccinate 70 percent of the population of each country by the middle of this year, with a focus on people who are at the highest risk of Covid-19, and improving testing and sequencing rates to track the virus and its emerging variants more closely. Omicron is less likely to cause severe illness than the previous Delta variant, according to studies. Omicron spreads even more easily than other coronavirus strains, and has already become

dominant in many countries. It also more easily infects those who have been vaccinated or had previously been infected by prior versions of the virus. “It’s true that we will be living with Covid for the foreseeable future and that we will need to learn to manage it through a sustained and integrated system for acute respirator y diseases” to help prepare for future pandemics, Tedros said. “But learning to live with Covid cannot mean that we give this virus a free ride. It cannot mean that we accept almost 50,000 deaths a week from a preventable and treatable disease.” In stark terms, Tedros also appealed for strengthening WHO and increasing funding for it to help stave off health crises. “Let me put it plainly: If the current funding model continues, WHO is being set up to fail,” he said. “The paradigm shift in world health that is needed now must be matched by a paradigm shift in funding the world’s health organization.” The head of WHO’s European region, Dr. Hans Kluge, said separately in a statement that Omicron “offers plausible hope for stabilization and normalization,” but cautioned: “Our work is not done.” He was alluding to signs that the new variant has shown to bring with it less severe disease, even if it’s more transmissible. He lamented “huge disparities” in access to vaccines, and echoed concerns from other WHO officials that areas where people are less immunized could allow the virus to adapt—and possibly lead to new variants. Kluge offered a more hopeful note, even if he said “it is almost a given that new Covid-19 variants will emerge and return.” AP

BusinessMirror

Wednesday, January 26, 2022

South Korea reports 8,000 infections ahead of holiday

EOUL, South Korea—South Korea recorded more than 8,000 new coronavirus infections for the first time Tuesday as health authorities reshape the country’s pandemic response to address a surge driven by the highly contagious Omicron variant.

The 8,571 new cases reported by the Korea Disease Control and Prevention Agency followed three straight days exceeding 7,000. With Omicron spreading more than twice as fast as the Delta strain that cause the last surge, experts say new cases may exceed 10,000 this week and possibly 20,000 after the Lunar New

Year’s holiday break that begins this weekend and continues to next Wednesday. To prevent a sudden explosion of infections from overwhelming hospitals and disrupting workplaces and essential ser vices, South Korea will reduce quarantine periods, expand testing and treat more people at home.

From Wednesday, the quarantine periods for people who test positive after being fully vaccinated will be reduced from the current 10 days to seven days. Fully vaccinated people who come in close contact with virus carriers won’t be placed under quarantine. Officials are also planning to treat a larger number of mild or moderate cases at home and expand the use of rapid antigen tests to detect more infections sooner. Park Hyang, a senior Health Ministry official, pleaded people to stay home during the upcoming holidays and get vaccinated if they haven’t already. While those who aren’t fully vaccinated account for less than 7 percent of South Koreans who are 12 years or older, these people have accounted for about 60 percent of serious cases and deaths in the past eight weeks,

Park said during a briefing. “While infections are increasing, cases among people in their 60s or older, who are at higher risk of serious illness and death, have so far remained at a low level,” Park said. “We believe this is because the rate of people in that age group who received booster shots has now rose to 84.9 percent.” Omicron has become the dominant variant in many countries and more easily infects those who have been vaccinated or had Covid-19 previously. But vaccination and booster shots still provide strong protection from serious illness, hospitalization and death. As of Tuesday, more than 85 percent of South Korea’s more than 51 million people have been fully vaccinated. More than 49 percent of the population have been administered booster shots. AP

FDA halts use of antibody drugs that don’t work against Omicron

A SHINGTON— Covid-19 antibody drugs from Regeneron and Eli Lilly should no longer be used because they don’t work against the Omicron variant that now accounts for nearly all US infections, US health regulators said Monday. The Food and Drug Administration said it was revoking emergency authorization for both drugs, which were purchased by the federal government and have been administered to millions of Americans with Covid-19. If the drugs prove effective against future variants, the FDA said it could reauthorize their use. The regulatory move was expected because both drugmakers had said the infusion drugs are less able to target Omicron due to its mutations. Still, the federal action could trigger pushback from some Republican governors who have continued promoting the drugs against the advice of health experts. Omicron’s resistance to the two leading monoclonal antibody medicines has upended the treatment playbook for Covid-19 in recent weeks. Doctors have alternate therapies to battle early Covid-19 cases, including two new antiviral pills from Pfizer and Merck, but both are in short supply. An antibody drug from GlaxoSmithKline that remains effective also is in short supply. The drugs are laboratory-made versions of virus-blocking antibodies. They are intended to head off severe disease and death by supplying concentrated doses of

A doctor holds a Regeneron monoclonal antibody infusion bag during a news conference on August 19, at a hospital in Fort Lauderdale, Fla. On January 24, the Food and Drug Administration said Covid-19 antibody drugs from Regeneron and Eli Lilly should no longer be used because they are unlikely to work against the dominant Omicron variant. Joe Cavaretta/South Florida Sun-Sentinel via AP

one or two antibodies early in an infection. Then-President Donald Trump received Regeneron’s antibody combination after he tested positive for the coronavirus in 2020. The FDA noted in its decision that Omicron accounts for more than 99 percent of US infections, making it “highly unlikely” the antibodies would help people now seeking treatment. The agency said restricting their use would also eliminate unnecessary drug side effects, including allergic reactions. The US government temporarily stopped distributing the two drugs in late December, as Omicron was racing across the country to become the dominant variant. But officials resumed distribution after complaints from Republican governors, including Florida’s

Ron DeSantis, who claimed that the drugs continued to help some Omicron patients. DeSantis has heavily promoted antibody drugs as a signature part of his administration’s Covid-19 response, setting up infusion sites and lauding them at news conferences, while opposing vaccine mandates and other public health measures. Texas Gov. Greg Abbott has also launched state-sponsored infusion sites. The drugs are not a substitute for vaccination and are generally reserved for people who are the most vulnerable, including seniors, transplant recipients and those with conditions like heart disease and diabetes. Since early January, the US government has shipped enough doses of the two antibodies to treat more than 300,000 patients.

Both Regeneron and Lilly previously announced they were developing new antibodies that target Omicron. The move comes days after regulators broadened the use of remdesivir—the first drug approved for Covid-19—to treat more patients. On Friday, the FDA expanded the antiviral’s approval to include adults and children with early Covid-19 who face a high risk of ending up in the hospital. Remdesivir previously had been limited to hospitalized patients. An influential panel of federal experts had already recommended using the infused drug to try to head off hospitalization. The same guidelines from the National Institutes of Health panel recommend against continued use of Lilly and Regeneron’s antibody drugs due to their reduced effectiveness against Omicron. Still, many hospitals will face challenges in ramping up remdesiv ir treatments. T he drug requires three consecutive IV infusions over three days, when used for nonhospitalized patients. T hat time-consuming process won’t be an option for many over-capacity hospitals facing staff shortages. The FDA made its decision based on a 560-patient study that showed a nearly 90 percent reduction in hospitalizations when remdesivir is given within seven days of symptoms. The study predates the Omicron variant but, like other antivirals, remdesivir is expected to maintain its performance against the latest variant. AP

US combat jet crashes in South China Sea exercise, 7 sailors hurt

A NGKOK— A U S Nav y F35C Lightning II combat jet conducting exercises in the South China Sea crashed while trying to land on the deck of an American aircraft carrier, injuring seven sailors, the military said Tuesday. The pilot was able to eject before the aircraft hit the deck of the USS Carl Vinson on Monday and was safely recovered by a helicopter, said Lt. Mark Langford, a spokesman for the US 7th Fleet. Seven sailors, including the pilot, were injured and three were evacuated for medical treatment in Manila, Philippines, while four were treated on board the ship. The three sent to Manila were report-

ed in stable condition on Tuesday morning, the Navy said. Details on the crash of the multimillion-dollar aircraft were still being verified, Langford said. “The status and recovery of the aircraft is currently under investigation,” he told The Associated Press. Two American carrier strike groups with more than 14,000 sailors and marines are conducting exercises in the South China Sea, which the militar y says is to demonstrate the “US Indo -Pacif ic Comma nd Joint Force’s ability to deliver a powerful maritime force.” Impact to the deck of the USS Carl Vinson was “superficial,”

Langford said, and both carriers have resumed routine flight operations. As China has pressed territorial claims in the South China Sea and increased pressure on Taiwan, the US and its allies have stepped up exercises in the region, in what they call freedom of navigation operations in line with international law. As the Carl Vinson and Abraham Lincoln strike groups began their dual carrier operations on Sunday, China flew 39 warplanes toward Taiwan in its largest such sortie of the new year, according to Taiwan’s defense ministry. The formation of 24 Chinese J-16 and 10 J-10 fighter jets stayed

out of Taiwanese air space, but the maneuver prompted Taiwan to scramble its own aircraft in response. Chinese pilots have been flying toward Taiwan on a near-daily basis, and it was unclear if Sunday’s flights were a response to the American exercises. China’s Ministry of Foreign Affairs refused to comment. Taiwan and China split during a civil war in 1949, but China claims the island as its own territory. Beijing has used diplomatic and military means to isolate and intimidate the self-ruled island, but the US has continued to support Taiwan by selling it advanced weapons and fighter planes. AP

BusinessMirror

Wednesday, January 26, 2022

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

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

KITWA, PASCALINE KASONGO Sr. Finops Analyst - Ca Payroll (french) 1.

Brief Job Description: Perform a variety of technical tasks relative to assigned areas of responsibility including data compilation and support of the payroll team

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

Brief Job Description: Oversight of all school operations

Basic Qualification: Previous head of school experience in IB programmes, budgetary experience Salary Range: Php 500,000 and above

BOSKALIS PHILIPPINES INC. Unit 3701, 3801 The Orient Square, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

RUTTEN, THOMAS Production Analyst 3.

Brief Job Description: The production analyst is responsible for all aspects of production calculation and optimization higher or professional education;

Basic Qualification: Must have work experience of at least 4 years on international dredging, land reclamation, or construction projects Salary Range: Php 150,000 - Php 499,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

NAVEEN RAWOOR BASAWARAJ Tech Lead 9.

Brief Job Description: Linux Server Admin (L1); Azure Infra Service Support; AWS certified (SAA-CO2)

Brief Job Description: Monitor daily performances of the accounting department

FU, CHAORAN Site Supervisor Brief Job Description: Supervise day to day operation in jobsite

WANG, XIAODONG Site Supervisor Brief Job Description: Supervise day to day operation in jobsite

10.

DWIVEDI, SHREYA Business Development - Regional Operations Manager Brief Job Description: Assist country - level business development teams with proposals and presentation

AUNG NAING OO Customer Service Representative 11.

12.

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

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

HOANG VAN HAU Customer Service Representative 13.

Basic Qualification: Experience in site management / fluent in Chinese and English

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

NANG MWE HSENG LYAN Customer Service Representative 14.

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

CITIBANK N.A. 16th Floor, Citi Plaza, 34th St. Bgc, Fort Bonifacio, City Of Taguig

KOTHARI, MAYANK JASWANTLAL Financial Planning & Analysis Senior Manager 7.

Brief Job Description: The Institutional Clients Group Financial Planning and Analysis Senior Manager is a senior professional position responsible for providing an analysis and insight of Citi’s financial results in coordination with a broader Finance team.

Basic Qualification: 1. 6-10 years of relevant experience in Financial Planning and Analysis 2. Experience with financial services and in-depth exposure to Corporate Banking products 3. Experience in providing financial analysis including monthly forecasts, strategic multi-year forecasts, and annual budgets 4. Experience in generating flash results/ highlights of analytics for Board of Directors’ reports and Executive Management reports Salary Range: Php 150,000 - Php 499,999

PAUL, AJAY Global Subsidiaries Group Head

Brief Job Description: A senior management-level position responsible for accomplishing results through the management of a team or department to raise funds in the capital markets and provide clients with strategic advisory services in coordination with the Institutional Banking team.

Basic Qualification: 1. 15+ years of relevant experience as a senior credit officer 2. 10 years of experience in people management 3. In-depth experience advising clients on debt and capital management 4. With understanding of compliance issues and regulatory requirements both global and local Salary Range: Php 500,000 and above

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

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

19.

Basic Qualification: Experience in managing C suite, Business executives, Business unit leads Salary Range: Php 500,000 and above

NGUYEN MINH THANH Customer Service Representative 15.

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

NGUYEN THI HUYEN Customer Service Representative 16.

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

Basic Qualification: College Graduate Level, Preferably with Customer service or sales experienced , fluent in Mandarin and Basic English

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

TO NGOC HAI Customer Service Representative 20.

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building, Aseana Avenue Corner Diosdado Macapagal, Tambo, City Of Parañaque

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SAI HSENG MAIN Customer Service Representative

Basic Qualification: Windows Server Admin 2, Application support in Grid/Cluster Technology, AWS Certified (SAA-CO2)

DOCQUITY PHILIPPINES CORP. U 2005 20/f West Tower, Psec Exchange Road West Tower Exchange Rd., San Antonio, City Of Pasig

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

Basic Qualification: Experience in site management / fluent in Chinese and English

No.

SUWARDANA Customer Service Representative

HO HUU HOANG LONG Customer Service Representative FENG, SHAOKANG Accounting Supervisor

QUALIFICATION AND SALARY RANGE

18.

CHINA ROAD AND BRIDGE CORPORATION Unit 2605, 2607, 2608, & 2609, High St. South Corporate Plaza, Tower 1, 9th Avenue Corner 26th St. Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: Experience in finance / fluent in Chinese and English

ESTABLISHMENT / ADDRESS

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

Basic Qualification: Fluency in the French language

BEACON INTERNATIONAL SCHOOL FOUNDATION, INC. 2332 Pcpd Bldg., Don Chino Roces Ave., Fort Bonifacio, City Of Taguig

LEWTHWAITE, MURIEL DIANE Head Of School

No.

www.businessmirror.com.ph

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

VY THANH MY PHUNG Customer Service Representative 21.

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

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

Basic Qualification: College Graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College Graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English

WANG, CAIHUI Mandarin Site Technical Officer 22.

Brief Job Description: Assist in the monitoring and supervision of site work to ensure compliance of technical specifications, contractual and statutory obligations as well as safety regulations requirements including stipulated quality of equipment and workmanship

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

Basic Qualification: College Graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English

MAHAJAN, MEGHA Sr. Uam Technical Specialist 23.

Brief Job Description: Responsible for the continuous improvement, coding, architecture and structured problem solving of the company’s DEvOps rituals.

HWANG, JUNGIL Korean Customer Support Representative 24.

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

SEOL, JAEYEOP Korean Customer Support Representative 25.

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

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

17.

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

Basic Qualification: College Graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College Graduate Level, Preferably with Customer service or sales experienced , fluent in Mandarin and Basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College Graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s degree with at least 3-5 years of working experience in the related field; fluent in mandarin/ basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Capable of organizing/ maintaining Java7/ Oracle stack; Good understanding of modern engineering industry standards and practices (i.e. Java8+) Salary Range: Php 150,000 - Php 499,999

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor, Eight West Campus Mckinley West, Fort Bonifacio, City Of Taguig

YANG, SHAOLONG Mandarin Customer Support Representative PHAN THI HOA Customer Service Representative

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

ING BUSINESS SHARED SERVICES B.V. BRANCH OFFICE 27th Floor World Plaza Building, 5th Avenue, E-square Zone Cresent Park West, Bonifacio Global City, City Of Taguig

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

Basic Qualification: College Graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English

Basic Qualification: College Graduate Level, Preferably with Customer service or sales experienced , fluent in Mandarin and Basic English

HAMMERTIME CONSTRUCTION INC. Unit 203-s3 2nd Flr., Fbr Arcade Bldg., Loyola Heights, Quezon City

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

Basic Qualification: College Graduate Level, Preferably with Customer service or sales experienced , fluent in Mandarin and Basic English

QUALIFICATION AND SALARY RANGE

26.

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

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

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

JT INTERNATIONAL (PHILIPPINES) INC. Penthouse, W Office Building, 28th St. Cor. 11th Avenue, Fort Bonifacio, City Of Taguig

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION SANTOS VIVEIROS, ERIKA CRISTINA Marketing Director

27.

Brief Job Description: Understanding of tobacco industry environment. Brand & portfolio management. Pricing scenarios and analysis, trade terms, margin analysis. Work in close collaboration with heads of functional department and sales operations in order to ensure alignment and integrated activities. Leads development of marketing elements of market a & SP in conjunction with in-market planning & development, operations, finance, regional sales & marketing and ho brand groups including objective setting, overall KPI setting and KPI monitoring. Manage RSP pricing within local competitive and legislative environment and in line GFB/ORB pricing policy. Manage pricing from source to consumer taking into account margins, terms and discounts.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

Basic Qualification: High standard of university degree (required) MBA or equivalent educational background (desirable). 10 years or more relevant experience in fmcg marketing and sales functions. Solid background in strategic planning (brand portfolio management, pricing, taxation, p&l).

No.

LUAN, ZHEN Chinese Customer Service 42.

43.

MAO, BICHANG Chinese Customer Service

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

28.

Brief Job Description: Managing incoming calls and customer service inquiries

ANDI Chinese Customer Service 29.

Brief Job Description: Managing incoming calls and customer service inquiries

CAI, ZHICAI Chinese Customer Service 30.

Brief Job Description: Managing Incoming calls and customer service inquiries

CHEW YEE JI Chinese Customer Service 31.

Brief Job Description: Managing incoming calls and customer service inquiries

CHONG SENG MENG Chinese Customer Service 32.

Brief Job Description: Managing incoming calls and customer service inquiries

DANG VAN HINH Chinese Customer Service 33.

Brief Job Description: Managing incoming calls and customer service inquiries

DARMA PUTRA HASAN Chinese Customer Service 34.

Brief Job Description: Managing incoming calls and customer service inquiries

DAU DUC KIEN Chinese Customer Service 35.

Brief Job Description: Managing incoming calls and customer service inquiries

DAVIN Chinese Customer Service 36.

Brief Job Description: Managing incoming calls and customer service inquiries

DEFIT Chinese Customer Service 37.

Brief Job Description: Managing incoming calls and customer service inquiries

HE, ZHENHUA Chinese Customer Service 38.

Brief Job Description: Managing Incoming calls and customer service inquiries

HUANG, GENWEI Chinese Customer Service 39.

Brief Job Description: Managing Incoming calls and customer service inquiries

45.

46.

47.

48.

49.

50.

51.

52.

53.

54.

Brief Job Description: Managing Incoming calls and customer service inquiries

TRAN XUAN HUONG Chinese Customer Service 55.

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

Basic Qualification: Able to speak, Read, and Write Chinese Language

Brief Job Description: Managing Incoming calls and customer service inquiries

TONI Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese Language

Brief Job Description: Managing Incoming calls and customer service inquiries

TO VAN NGOC Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

SHI, XIN Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

SERAFINA Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

SAE-YANG, SONGMUENG Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

PHAN THI THUONG Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

PENG, KAI Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

NGUYEN THI YEN Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

NGUYEN THI QUYEN Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese Language

Brief Job Description: Managing Incoming calls and customer service inquiries

NGUYEN THANH CONG Chinese Customer Service

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

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquiries

WU, WEI Chinese Customer Service 56.

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

Brief Job Description: Managing Incoming calls and customer service inquiries

XU, BINCHENG Chinese Customer Service LI, KUANG Chinese Customer Service 40.

Brief Job Description: Managing Incoming calls and customer service inquiries

Basic Qualification: Able to speak, Read, and Write Chinese Language

57.

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

41.

Brief Job Description: Managing Incoming calls and customer service inquiries

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

Brief Job Description: Managing Incoming calls and customer service inquiries

MU, XIANQIN Chinese Customer Specialist 58.

LI, XIN Chinese Customer Service

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: College Graduate Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ALVIN P GEANGA Site Manager 59.

Basic Qualification: Able to speak, Read, and Write Chinese Language

Brief Job Description: Super project direction coordinating and supervising construction works and ensuring construction site safety.

QUALIFICATION AND SALARY RANGE Basic Qualification: 5-10 years of experience in substation civil, electrical and secondary works, knowledge of construction process and can supervise and oversee the direction of the project. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 PHILIPPINE KAIHEN MECHANICAL AND ELECTRICAL CORP. 528 Madrid Cor. Lara Sts., 026, Barangay 284, San Nicolas, City Of Manila

Salary Range: Php 500,000 and above

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries

LUONG VAN HOANG Chinese Customer Service

44.

AI, HAO Chinese Customer Service

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Wednesday, January 26, 2022

Brief Job Description: Managing Incoming calls and customer service inquiries

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

60.

Basic Qualification: College graduate, fluent in Mandarin and English

WU, YANNI Project Consultant Brief Job Description: To develop detailed project plan and allocation

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

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

RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg., 115-117 Esteban Street, San Lorenzo, City Of Makati

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

SU, SHUNQING Chinese Customer Service Representative 61.

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base

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

XU, BAODING Chinese Customer Service Representative 62.

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

ZHAO, YAFEI Mandarin Administrative Specialist 63.

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

Basic Qualification: College graduate, fluent in English, preferably 6mos-1year customer service experience Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: At least two (2) years of working experience in the related field; fluent in mandarin/Chinese language Salary Range: Php 30,000 - Php 59,999

TRI7 SOLUTIONS, INC. Unit 9-a 9/f Marvin Plaza Bldg., 2153 Don Chino Roces Ave., Pio Del Pilar, City Of Makati

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

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

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

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

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base

Basic Qualification: College graduate, fluent in English, preferably 6mos-1year customer service experience

LE VAN DONG Vietnamese Language Customer Service Representative 64.

Brief Job Description: Report on a daily operation of call center performing customer oriented telephone activities and various background operations duties.

Basic Qualification: Proficient in writing, reading and speaking in both English / Bahasa / Thai / Chinese / Vietnamese / Malay Salary Range: Php 30,000 - Php 59,999

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

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

LI, WANGMING Mandarin Customer Support Representative 65.

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

LIU, YANWU Mandarin Customer Support Representative 66.

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

Basic Qualification: Able to speak, Read, and Write Chinese Language

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

ZHANG, XIAOBO Mandarin Customer Support Representative 67.

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

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

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

SU, SIMIN Mandarin Customer Support Specialist 68.

Brief Job Description: Expels at their product, and their primary duty is to resolve customer issues quickly and efficiently.

Basic Qualification: College Graduate Salary Range: Php 30,000 - Php 59,999

*Date Generated: Jan 25, 2022 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

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

PESTECH CORPORATION Unit 202 21 Lki Bldg., Congressional Ave., Bahay Toro, Quezon City

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A8 Wednesday, January 26, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Solving the depletion of PHL’s fish stocks

eafood is one of the favorite protein sources of Filipinos. The Philippine Statistics Authority said that fish is the country’s second staple food next to rice. On average, the Southeast Asian Fisheries Development Center estimated that the mean per capita consumption of fish and fishery products in the Philippines is at 40 kilograms per year or 109 grams a day. The United Nations’ Food and Agriculture Organization noted that Filipinos generally prefer brackish water or marine finfish to freshwater fish. This would explain the popularity of fish species such as round scad or galunggong, which used to be the cheapest fish available to Filipinos. As the country’s population expands, the demand for brackish water fish species also rises, and this has led to rapid depletion of our fishing stocks. The government has rolled out a number of measures to prevent the further depletion of the country’s marine resources. These include the implementation of the so-called closed fishing season for galunggong, which allows stocks to rejuvenate (See, “BFAR: Closed fishing season for ‘galunggong’ starts to bear fruit,” in the BusinessMirror, November 3, 2021), and the introduction of policies aimed at curbing illegal, unreported and unregulated fishing. The declaration of closed fishing season for galunggong, in particular, has somehow allowed fishers to increase their catch, according to the Bureau of Fisheries and Aquatic Resources. Discontinuing this closed fishing season to increase the supply of galunggong, however, would do more harm than good. Allowing fishers to catch round scad the whole year round would undoubtedly increase supply in the short term, but this would hasten the depletion of the country’s galunggong stocks and make us more reliant on imports to boost our food supply. While importing the Philippines’s favorite fish was unheard of two decades ago, the reality is that our own resources can no longer meet the increasing requirement of the country for food. Food production must keep pace with population growth if the Philippines is to wean itself away from imported foodstuff. And this is only possible if both the government and the citizens are willing to bear the temporary pain caused by conservation measures. As sustainable practices would take time to bear fruit, these must be complemented by other initiatives. For one, government must promote the consumption of freshwater fish species and encourage the cultivation of other marine animals, such as shrimp. Aside from expanding output, government must help shrimp producers deal with diseases and the high cost of inputs (See, “Shrimp production seen falling to 60,000 MT,” in the BusinessMirror, November 10, 2021). To protect the country’s shoreline and fight IUU, the government must seriously consider increasing its investments in upgrading the capabilities of agencies tasked to apprehend illegal fishers. Protecting our shoreline requires investments in surveillance and intelligence, including the latest technologies and vessels. These initiatives must be put in place to enable fisheries, which used to buoy the performance of the agriculture sector in previous years, contribute significantly to food output. That’s one effective way to strengthen the country’s food security. Since 2005

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How to register and create your My.SSS account n

SSS;

Aurora C. Ignacio

All About Social Security

or the past two years, we have embraced the new norm of conducting personal and business transactions online. Who would have thought that shopping, paying bills, getting services, ordering food and anything you can think of is now being done online. It’s much simpler, faster, and more convenient as you can do it anytime and anywhere without leaving the safety and comfort of your home. You just need to have a stable Internet connection to do all of these things. In line with the SSS’s digitalization initiatives to better serve our members and to minimize faceto-face interactions to prevent the spread of Covid-19, we highly encourage our members to maximize the usage of our various online channels/platforms in doing their SSS transactions. For those who already have their existing My.SSS account, it is good to know that you are now registered in the My.SSS portal. You can continuously access your SSS records using your My.SSS username and password and check your account 24/7. You can also use the same username and password to check your account using the SSS Mobile App, which you can download for free via Google Playstore, Huawei App Gallery, and Apple App Store.For those who have not created their accounts yet, we have made the web registration guide easier. Simply follow these steps :

n Go to the SSS web site www.sss. gov.ph, tick the checkbox “I am not a Robot,” answer the captcha, click Submit then click “Member” under “Portals” to go to the Member Login page. n Click “Not Yet Registered in My.SSS?” found at the bottom of the login page. n Please read the reminders and certify that you have read and understood the reminders, then click “Proceed.” n Encode your CRN/SS Number, e-mail address, Preferred User ID, complete name, date of birth, and mailing address (Philippine address and/or foreign mailing address). n For the Registration Information Options, select one registration information (see list below) from the dropdown menu. n Savings Account Number/Citibank Cash Card/ UBP Quick Card or UMID-ATM Savings Account Number registered in SSS;

mobile number registered in

n your 6-digit UMID card PIN code or mother’s name reported in your E6-UMID Card application Form, as applicable; n Employer ID Number/Household Employer ID Number of any of your current or previous employer; n Paid Payment Reference Number/SBR No./Payment Receipt Transaction Number of any of your Contribution Payments; n date of loan with existing loan balance; n Transaction Number shown in your Personal Record/Unified Multipurpose ID (UMID) application (E1/E-6) for those who applied online for SS Number from December 10, 2020 onwards; and n Check Number of any monthly pension of retiree/disability pensioner who is receiving the pension benefit through check. n Tick the checkbox “I am not a robot,” click the “I accept the terms of service,” then click “Submit.” n Review your entered information. Then click “Confirm” if all information are correct. Click “Cancel” to edit entered information. n Upon submission, click “OK” and check your e-mail for the password set-up. n Click “Clicking Here” and you will be directed to the set password page. n Enter the last 6 digits of your CRN/SS Number then click “Submit.” n Enter your preferred password, re-enter your preferred password, then click “Submit.” n After successful password set-up, you will be directed to your

My.SSS account. That’s it! Now that you have completed setting-up your account, you will be able to access your membership records including contributions, loans, status of benefit claims or reimbursement, register your disbursement account under the Disbursement Account Enrollment Module (DAEM), generate Payment Reference Number (PRN) for payment of your contributions and loans. You may also submit Maternity Notifications (for Voluntary/ Self-Employed/OFW members), Maternity Benefit applications and adjustment of Maternity Benefit, Sickness Benefit applications, Retirement Benefit application, Salary Loan applications, Calamity Loan applications, and renewal of Pension Loan Program (PLP). Let me remind everyone to avoid sharing your username and password to anyone to keep your record’s confidentiality. You may risk your account being compromised and used for unauthorized transactions. We have made our web site and mobile app’s interface more user-friendly, not to mention that we have also made available overview videos to guide you in our official Facebook page and other social-media accounts. At the end of the day, what matters most is that members remain safe and well everyday inside their respective homes. I wish you all a great week ahead! Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Better to miss, than be run over by, the RCEP bus

E—the undersigned representatives of farmers, fishers, workers, civil society organizations and the private sector—reiterate our urgent plea to the Senate to reject, or at the very least defer any decision on, the Regional Comprehensive Economic Partnership (RCEP) trade agreement. The Senate and the general public have been fed with false promises, bloated projections and misleading claims regarding the benefits of RCEP. While the country may have gained some concessions which are better than those under existing free trade agreements (FTAs) with RCEP countries, these involve a very small percentage of total agricultural tariff lines and trade value. Moreover, many of the purported gains are insignificant. For instance, the Japanese offer to drop tariffs on chocolates to zero applies to a single and obscure tariff line for “other” chocolates, which we most probably do not export. Likewise, we need to wait 20 years before China’s tariff on our canned pineapples becomes zero, even as the current tariff is already very low at 5 percent.

RCEP proponents have conveniently downplayed, if not deliberately concealed, one crucial caveat about the agreement—that any tariff concession from our trading partners under RCEP will not be exclusive to the Philippines, and will actually be available to all other membercountries. There is therefore no assurance, and only a small chance, that we can take advantage of these trade opportunities inasmuch as other RCEP countries are way ahead of us in terms of competitiveness, efficiency and dependability. Moreover, while RCEP may provide more incentives for foreign investors to come to the Philippines, they can just as easily decide to place their money in other countries where the environment for doing business is more attractive.

There has been a conscious effort to belittle the potential damage of RCEP and other trade agreements to many sectors in our economy, particularly agriculture. Yet, these concerns are real and validated by experience. To cite a few: Almost all our tariffs on fishery, dairy, cacao and tobacco products will drop to zero on the very first year of RCEP. Import duties on high fructose corn syrup and other substitutes to our cane sugar will also be eliminated. Our farmers in the Cordilleras and other areas will face a deluge of cheap vegetables from China. All this, with our local producers left with little or no protection because of stringent RCEP rules on the use of additional tariff safeguards during import surges. RCEP will actually perpetuate, if not aggravate, the adverse impacts of these threats especially because of the non-implementation of laws and programs that were promised in the past and intended to improve the resiliency and competitiveness of our vulnerable sectors. To make matters

worse, our government has gone on an import spree while unilaterally cutting tariff rates for sensitive products like rice and pork (and perhaps soon, corn and sugar), without getting any trade concession in return. We therefore urge our Senators to be skeptical about the rosy projections regarding the purported benefits from RCEP. These types of calculations are based on unrealistic assumptions and have historically been grossly off the mark. In pushing for Senate ratification of the GATT-Uruguay Round agreement in 1995, proponents promised a $3.4 billion-rise in agricultural exports, P60 billion increase in agricultural gross value added, 500,000 additional jobs, and improved balance of trade in agricultural products. Philippine Statistics Authority data show completely opposite results between 1995 and 2018—$7 billion in agricultural trade deficits from a surplus in 1995, over a million jobs lost, and a halving of agriculture’s contribution to the country’s See “RCEP,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

Wednesday, January 26, 2022 A9

US orders 8,500 troops The company doctor’s incomplete and doubtful on heightened alert amid assessment in disability benefits cases Russian invasion concerns

By Robert Burns And Lorne Cook | Associated Press

ASHINGTON—The Pentagon ordered 8,500 troops on higher alert to potentially deploy to Europe as part of a Nato “response force” amid growing concern that Russia could soon make a military move on Ukraine. President Joe Biden consulted with key European leaders, underscoring US solidarity with allies there. Putting the US-based troops on heightened alert for Europe on Monday suggested diminishing hope that Russian President Vladimir Putin will back away from what Biden himself has said looks like a threat to invade neighboring Ukraine. At stake, beyond the future of Ukraine, is the credibility of a Nato alliance that is central to US defense strategy but that Putin views as a Cold War relic and a threat to Russian security. For Biden, the crisis represents a major test of his ability to forge a united allied stance against Putin. Pentagon press secretary John Kirby said about 8,500 US-based troops are being put on alert for possible deployment—not to Ukraine but to Nato territory in Eastern Europe as part of an alliance force meant to signal a unified commitment to deter any wider Putin aggression. Russia denies it is planning an invasion. It says Western accusations are merely a cover for Nato’s own planned provocations. Recent days have seen high-stakes diplomacy that has failed to reach any breakthrough, and key players in the drama are making moves that suggest fear of imminent war. Biden has sought to strike a balance between actions meant to deter Putin and those that might provide the Russian leader with an opening to use the huge force he has assembled at Ukraine’s border. Biden held an 80-minute video call with several European leaders on the Russian military buildup and potential responses to an invasion. “I had a very, very, very good meeting—total unanimity with all the European leaders,” Biden told reporters at the White House. “We’ll talk about it later.” The White House said the leaders emphasized their desire for a diplomatic solution to the crisis but also discussed efforts to deter further Russian aggression, “including preparations to impose massive consequences and severe economic costs on Russia for such actions as well as to reinforce security on Nato’s eastern flank.” A day earlier, the State Department had ordered the families of all American personnel at the US Embassy in Kyiv to leave the country, and it said that nonessential embassy staff could leave at US government expense. Ukraine’s Foreign Ministry spokesman, Oleg Nikolenko, said that US decision was “a premature step” and a sign of “excessive caution.” He said Russia was sowing panic among Ukrainians and foreigners in order to destabilize Ukraine. Britain said it, too, was withdrawing some diplomats and dependents from its Kyiv Embassy. Prime Minister Boris Johnson said an invasion was not inevitable but “the intelligence is pretty gloomy.” Ordering even a modest number of American troops to be ready for potential deployment to Europe is meant to demonstrate US resolve to support its Nato allies, particularly those in Eastern Europe who feel threatened by Russia and worry that Putin could put them in his crosshairs. “What this is about is reassurance to our Nato allies,” Kirby told a Pentagon news conference, adding that no troops are intended for deployment to Ukraine, which is not a member of the alliance but has been assured by Washington of continued US political support and arms supplies. The Pentagon’s move, which was done at Biden’s direction and on Defense Secretary Lloyd Austin’s recommendation, is being made in tandem with actions by other Nato member governments to bolster a defensive presence in Eastern Euro-

pean nations. Denmark, for example, is sending a frigate and F-16 warplanes to Lithuania; Spain is sending four fighter jets to Bulgaria and three ships to the Black Sea to join Nato naval forces, and France stands ready to send troops to Romania. In a statement prior to Kirby’s announcement, Nato said the Netherlands plans to send two F-35 fighter aircraft to Bulgaria in April and is putting a ship and land-based units on standby for Nato’s Response Force. Nato has not made a decision to activate the Response Force, which consists of about 40,000 troops from multiple nations. That force was enhanced in 2014—the year Russia seized Ukraine’s Crimea Peninsula and intervened in support of pro-Russian separatists in eastern Ukraine—by creating a “spearhead force” of about 20,000 troops on extra-high alert within the larger Response Force. If Nato does decide to activate the Response Force, the United States will contribute a range of military units, Kirby said. “It is a Nato call to make,” Kirby said. “For our part, we wanted to make sure that we were ready in case that call should come. And that means making sure that units that would contribute to it are as ready as they can be on as short a notice as possible.” He said some units will be ordered to be ready to deploy on as little as five days’ notice. Among the 8,500 troops, an unspecified number could be sent to Europe for purposes other than supporting the Nato Response Force, he said. Without providing details, he said they might be deployed “if other situations develop.” Prior to the US announcement, Nato issued a statement summing up moves already described by member countries. Restating them under the Nato banner appeared aimed at showing resolve. The West is ramping up its rhetoric in the information war that has accompanied the Ukraine standoff. Russia has massed an estimated 100,000 troops near Ukraine’s border, demanding that Nato promise it will never allow Ukraine to join and that other actions, such as stationing alliance troops in former Soviet bloc countries, be curtailed. Nato said Monday it is bolstering its deterrence in the Baltic Sea region. The alliance will “take all necessary measures to protect and defend all allies,” Secretary-General Jens Stoltenberg said. “We will always respond to any deterioration of our security environment, including through strengthening our collective defense.” In Moscow, Kremlin spokesman Dmitry Peskov said it was Nato and the US who were behind the escalating tensions, not Russia. “All this is happening not because of what we, Russia, are doing. This is happening because of what Nato, the US are doing,” Peskov told reporters. The Nato announcement came as European Union foreign ministers sought to put on their own fresh display of unity in support of Ukraine, and paper over concerns about divisions on the best way to confront any Russian aggression. In a statement, the ministers said the EU has stepped up sanction preparations, and they warned that “any further military aggression by Russia against Ukraine will have massive consequences and severe costs.” Associated Press writer Lorne Cook

reported from Brussels, Belgium. AP writers Yuras Karmanau in Kyiv, Ukraine; Dasha Litvinova in Moscow; Geir Moulson in Berlin; Aritz Parra in Madrid; Jill Lawless in London; Lolita C. Baldor and Aamer Madhani in Washington; Mike Corder in The Hague; and Raf Casert in Brussels contributed to this report.

the term of his contract. It becomes incumbent upon the respondents to prove otherwise. What the POEA contract requires is for the company physicianto justify the assessment using the medical findings he had gathered during his treatment of the seafarer. The company physician’s assessment must be complete and definite for the purpose of ascertaining the degree of the seafarer’s disability benefits. The assessment must truly reflect the extent of the sickness or injuries of the seafarer and his capacity to resume work as such. A bare claim that the illness is not work-related, or that the seafarer is fit for sea duties is insufficient. The Court will not hesitate to strike down an incomplete, and doubtful medical report of the company physician and disregard the improvidently issued assessment. The Court said in this case that

the company doctor’s medical report is inadequate to overcome the presumption. The company doctor’s report only indicated the diagnosis for Severe Acute Cholangitis or the inflammation or swelling of the bile duct. Cholangitis is a type of liver disease. When the bile ducts get inflamed, bile can back up into the liver and this can lead to liver damage. Acute Cholangitis happens suddenly and can be caused by bacterial infection, gallstones, blockages, and tumor. There are also environmental causes like infections, smoking and exposure to chemicals. The seafarer’s Severe Acute Cholangitis suggests that he did not respond well to the initial medical treatment and have organ dysfunction in at least one of the following organs/ systems: cardiovascular, nervous system, respiratory system, renal system, and hepatic system. The Court, however, is at a loss on the cause, gravity, and extent of the seafarer’s ailment. The medical report did not contain any explanation how the company physician arrived at his conclusion that the illness is not work-related. There is no other document submitted to support such finding. Worse, the company doctor made such report only two days after the seafarer was medically repatriated. The Court also noted the seafarer’s continued hospital confine-

Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

SIGNATORIES: 1) Nicanor Briones, President, Agricultural Sector Alliance of the Philippines, Inc. 2) Noel Salazar, Acting Director, AGRO-ECO Philippines 3) Jon Buan, President, AgroPlanters Association, Pampanga 4) Ernesto Ordonez, Chairman, Alyansa Agrikultura 5) Rafael Mariano, Chairperson, Anakpawis Party-List 6) Eduardo Landayan, President, Aniban ng mga Magsasaka. Mangingisda at Manggagawa sa Agrikultura 7) Rene Cruz, National President, Aniban ng mga Manggagawa sa Agrikultura 8) Cathy Estavillo, Spokesperson, Bantay Bigas 9) Pablito Sandoval, Director, Batangas Integrated Sugar Planters Multi-Purpose Cooperative 10) Cecilia Chavez-Custodio, Chairperson, BUTIL Farmers Party 11) Romeo Royandoyan, Executive Director, Centro Saka, Inc. (Philippine Center for Rural Development Studies) 12) Teodoro C. Mendoza, Science Director, Community Legal Help and Policy Center, Philippines 13) Charles R. Avila, Spokesperson, Confederation of Coconut Farmers Organizations of the Philippines 14) Raymond Montinola, President, Confederation of Sugar Producers Associations, Inc. 15) Jun Cruz, President, Council of the Laity of the Philippines 16) Essex Ramones Lara, Board Chairperson, CREDO Savings and Agrarian Reform Cooperative, Tuguegarao City, Cagayan 17) Mars Mendoza, Executive Director, Fair Trade Alliance 18) Rafael P. Sarucam. National President, Federation of Coconut Farmers and Farm Workers Associations, Inc. 19) Ramon Canastre, Jr., Chairman, Federation of Free Farmers Cooperatives 20) Dioscoro Granada, SecretaryGeneral, Federation of Free Farmers 21) Jose Sonny Matula, President, Federation of Free Workers 22) Joseph Purugganan, Head of Philippine Office, Focus on the Global South 23) Rene Ofreneo, President, Freedom from Debt Coalition 24) Lea Guerrero, Country Director, Greenpeace Philippines 25) Jose Enrique Africa, Executive Director, IBON Foundation. 26) Arze Glipo, Executive Director, Integrated Rural Development

Foundation 27) David T. Santos, Chief Executive Officer, Ka Tribu ug ang Lasang Foundation 28) Antony Marzan, Executive Director, Kaisahan tungo sa Kaunlaran ng Kanayunan at Repormang Pansakahan, Inc. 29) Romulo Tapayan, SecretaryGeneral, Kalipunan ng mga Maliliit na Magniniyog ng Pilipinas 30) Edith P. Azores, Chairperson, KAMMPIL AGRICOOP 31) Trinidad Domingo, Chairperson, Katipunan ng Bagong Pilipina 32) Danny Carranza, Secretary General, Kilusan para sa Repormang Agraryo at Katarungang Panlipunan 33) Danilo Ramos, Chairperson, Kilusang Magbubukid ng Pilipinas 34) CJ Castillo, Program Coordinator, Labor Education and Research Network 35) Rommel C. Arnado, President, and Vic Tagupa, Executive Director, League of Organic Agriculture Municipalities and Cities 36) Arnel Toreja, President, Luzon Federation of Sugarcane Planters Associations 37) Cris Paneno, Coordinator, Magsasaka at Siyentipiko para sa Pagunlad ng Pagsasaka 38) Argel Joseph Cabatbat, Congressman, MÀGSASAKA Party-List 39) Rod Bioco, Mindanao Bamboo Council 40) Eduardo Mora, Chairman, National Anti-Poverty Commission - Farmers and Landless Rural Workers Sectoral Council 41) Roland de la Cruz, President, National Congress of Unions in the Sugar Industry of the Philippines 42) Chester Warren Tan, Chairman and President, National Federation of Hog Farmers, Inc. 43) Zenaida Soriano, National Chairperson, National Federation of Peasant Women (AMIHAN) 44) Elvira Quintela, National Coordinator, National Food Coalition 45) Rodolfo M. Capoquian, President, National Trade Union CenterPhilippines 46) Marlon Gamboa, President, North Cluster Planters Association of Tarlac 47) Pablo Rosales, Pangulo, Pagkakaisa ng mga Samahan ng Mangingisda 48) Manuel Rosario, Secretary General, Pambansang Katipunan ng mga Samahan sa Kanayunan 49) Herminio Agsaluna. National President, Pambansang Kilusan ng mga Samahang Magsasaka

50) Felix Pascua, Spokesperson, Pambansang Katipunan ng Makabayang Magbubukid 51) Luz M. Bador, President, Pambansang Koalisyon ng Kababaihan sa Kanayunan 52) Eduardo Mora, Chairperson, Pambansang Kaisahan ng mga Magbubukid sa Pilipinas 53) Aurea Miclat-Teves, Executive Director, People’s Development Institute 54) Roger Navarro, President, Philippine Maize Federation 55) Marlon Palomo, Executive Director, Philippine Rural Reconstruction Movement 56) Joji Co, President, Philippine Confederation of Grains Associations 57) Rolando Tambago, President, Pork Producers Federation of the Philippines, Inc. 58) Hazel Tanchuling, Executive Director, Rice Watch Action Network 59) Rosendo So, President and Jayson Cainglet, Executive Director, Samahang Industriya ng Agrikultura 60) Manjet Manalo-Lopez, National President, SANLAKAS 61) Judith C. Ebalor, Chairperson, Save Candelaria Zambales Movement, Inc. 62) Josua Mata, Secretary-General, Sentro ng mga Nagkakaisa at Progresibong Manggagawa 63) Mark Almazan, Chairman, Southern Tagalog for Environmental Development and Protection of Sierra Madre 64) Mario Descallar, President and Jesus Las Marias, Chief Media Relations, System of Rice Intensification,Pilipinas 65) Dinna Umengan, Executive Director, Tambuyog Development Center 66) Ana Maria Nemenzo, CoConvenor, Trade Justice Pilipinas 67) Norberto Chingcuanco, CoConvenor, Tugon Kabuhayan 68) Elias Jose M. Inciong, President, United Broiler Raisers Association 69) Manuel Lamata, President, United Sugar Producers Federation 70) Fe Manapat, Woman Health Philippines 71) Heinzelle Agatep, Board Secretary, Zinundungan Valley Agricultural Cooperative, Lasam, Cagayan 72) Cornelio Garcia, Former President, Ramon Magsaysay State University, Zambales 73) Agnes Bolanos, Agri-Aqua Development Coalition-Mindanao

Dennis Gorecho

Pinoy Marino Rights

seafarer has no obligation to secure the second opinion of his personal doctor if the company doctor issued an incomplete and doubtful assessment.

The Supreme Court reiterated in the case of Joemar Bacabac v. NYK-Fil Ship Management (GR 228550 July 28, 2021) the need for the company physician’s assessment to be complete and definite for the purpose of ascertaining the degree of the seafarer’s disability benefits. The seafarer in said case suffered abdominal pain and symptoms while he was on board the vessel. He was then medically repatriated and was diagnosed with Severe Acute Cholangitis two days after disembarkation. The respondents denied liability on the disability benefits, arguing that the seafarer’s illness is not compensable as the company physician declared it not work-related. The Court then ruled that the seafarer’s medical condition is disputably presumed as work-related although not listed as an occupational disease because the illness manifested or was discovered during

RCEP. . .

continued from A8

gross domestic product from over 20 percent to only 10 percent. The Senate has been warned that “we will miss the [RCEP] bus” if we don’t join now. This is again patently misleading. In the first place, are we sure the bus will not run over us? Where is that bus going, and is that where we want to go? And is the RCEP bus the best vehicle to bring us to our desired destination? Further, RCEP advocates have conveniently failed to clarify that all our FTAs with other RCEP countries will remain in force even if we stay outside RCEP. The preferential tariffs that are already available to us under the Asean+1 FTAs are not much different from what RCEP can offer us. Our bilateral FTAs with Japan and South Korea, which actually give better terms for our products than RCEP, will also be maintained. Nor will our competitors within Asean get any tariff concessions under RCEP that are significantly better than what we can avail of under the existing FTAs. Only China, Japan, South Korea, Australia and New Zealand stand to gain much from RCEP because they currently do not have reciprocal FTAs among themselves, unlike Asean countries. While it is possible that they will use RCEP to penetrate our traditional markets, they will do so anyway whether we join RCEP or not. The warning therefore that trade will be diverted away from our country simply because we decide not to join RCEP is baseless. There are too many unanswered questions, claims that require validation, and preparations that need to be undertaken. Many of our stakeholders and economic sectors have not been properly consulted, are simply unprepared, and are lacking in understanding of RCEP; much less, its impact. The DA and DTI have not presented any game plan or strategy to address the lingering dangers and constraints that have confronted our producers in the past, and will place them in greater peril under RCEP. We stand to lose a lot, but will gain very little, if we join RCEP now. Under these circumstances, it will be foolhardy for the Senate to endorse the treaty. On behalf of the organizations and individuals listed below: Raul Q. Montemayor National Manager Federation of Free Farmers

ment for one whole month after such declaration. As the company physician’s medical evaluation of the seafarer fell short of the parameters provided by law and jurisprudence, the seafarer is deemed totally and permanently disabled as of the date of the expiration of the 120-day period counted from his repatriation. There could no longer be any issue on whether his illness is work related or not. Thus, the seafarer properly filed his complaint for payment of permanent and total disability benefits against the respondents after the expiration of the 120-day period from his repatriation. The Court also stressed that the seafarer has no obligation to secure the opinion of his own doctor. A seafarer’s compliance with such procedure presupposes that the company physician came up with a valid assessment as to his fitness or unfitness to work before the expiration of the 120-day or 240-day periods. Absent a valid certification from the company physician, the seafarer had nothing to contest and the law steps in to conclusively consider his disability as total and permanent.

A10 Wednesday, January 26, 2022

‘Keeping schools closed will cost more than opening them’

By Cai U. Ordinario

@caiordinario

S the world marked 100 weeks into the pandemic, experts from the United Nations and the World Bank warned that keeping schools closed will cost more than opening them. This point was made clear in a blog by United Nations Educational, Scientific and Cultural Organization (Unesco) Assistant DirectorGeneral for Education Stefania Giannini; United Nations Children’s Fund Programme Division, Education and Associate Director Robert Jenkins; and World Bank’s Education Global Practice Global Director Jaime Saavedra. On average, the experts said, school children have already lost 2 trillion hours of in-person instruction since the start of the Covid-19 pandemic and subsequent lockdowns. This has significantly affected learning outcomes, especially among children. “The costs of closing schools outweigh the risks of keeping schools open. Evidence suggests that with

strategies to minimize transmission in place, schools are not a driver of community transmission, nor are they high-risk environments for staff,” the experts said. “Mitigation measures like improved ventilation, physical distancing and mask-wearing when appropriate can help reduce transmission in schools,” they added. The experts shared Unicef data that a maximum of 15 percent of 10-year, olds in countries like the Philippines, Myanmar, Cambodia, Mozambique, Afghanistan, Ethiopia, Chad, and the Democratic Republic of the Congo have foundational skills. These countries also recorded the longest number of weeks where schools were fully closed. This data showed that among these countries,

the Philippines recorded the longest number of weeks where schools were fully closed. Between February 17, 2020 and January 16, 2022, schools in the Philippines have been fully closed for over 60 weeks; followed by Myanmar where schools have been closed for nearly 60 weeks; and Cambodia, a little over 40 weeks. “Collectively, we need to make education and learning a political priority. We must reopen schools, keep them open and support learning recovery. We cannot afford to lose this generation of kids. Our future depends on it,” they said. In a forthcoming report based on a review of countries’ school sanitation protocols, the expert said Unesco provided recommendations on how to keep schools open. Unesco said these include implementing safety protocols that are urgently needed; simple and agile protection frameworks and traffic light systems reflecting transmission; and clearly communicated plans that are continuously reassessed based on evidence. The UN agency also said datadriven pandemic recovery agendas and learning recovery plans and defined strategies for teacher

preparation, retention, motivation, and well-being are crucial. “Once schools are open, action is needed to get all children to return and re-engage with learning. This includes identifying barriers preventing children from returning to the classroom and finding ways to overcome them,” the experts said. Last year, the National Economic and Development Authority (Neda) said the Philippine economy will take a decade to go back to its prepandemic growth path due to the lingering effects of the pandemic and the lockdowns. In a statement on Saturday, Socioeconomic Planning Secretary Karl Kendrick T. Chua said the pandemic and the lockdowns imposed by the government are expected to cost the Philippine economy a total of P41.4 trillion in the next 40 years. Neda estimated that in 2020, the economy lost P4.3 trillion and is expected to continue to lose another P37 trillion in the next 10 to 40 years. The total losses are P4.5 trillion in consumption; P21.34 trillion in private investment and returns; and P15.528 trillion in human capital investment and returns.

YELLOW, RED ALERTS POSSIBLE IN 2022–D.O.E.

ELLOW and red alerts are possible this year, the Department of Energy (DOE) warned on Tuesday. “There are two potential red alerts and four yellow alerts,” said DOE-Electric Power Industry Management Bureau Director Mario Marasigan during an online briefing. However, the DOE official pointed out that culprit—should the National Grid Corporation of the Philippines (NGCP) issue these alerts during the weeks of May 16 and 23—is not the lack of power supply. “There are no potential yellow and red alerts this year. However, based on historical background, the possible scenarios to consider are forced outages... There is no problem on May 9, but immediately after that there could be red alerts after election,” said Marasigan. The Senate Committee on Energy has scheduled a hearing on the power outlook during the election period. See related story on page A3, "Senator urges DOE to address possible power shortage during election period." A yellow alert is issued by the National Grid Corporation of the Philippines (NGCP) when excess power is insufficient to meet the transmission grid’s regulating and contingency requirement, pegged at the time at about 495 megawatts

DOT video project immerses tourists in PHL sights, sounds By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

EVERAGING on the current trend of online traveling, the Department of Tourism (DOT) has launched a project to make available the sights and sounds of the Philippines via Autonomous Sensory Meridian Response (ASMR) videos. Through the “ASMR Experience the Philippines” Project, the DOT aims to transport people to select destinations through ASMR videos that explore the natural sounds of a place, allowing one to tune into nature and be fully present in the moment, according to a news statement from the agency. “This project is anchored on the concept that, when people travel, they go ‘sightseeing,’ but it is with their ears that they hear and sense things all around them. Through these videos, people get to share with the travel experience,” said Tourism Secretary Bernadette Romulo Puyat. Experimental psychologists define ASMR as a “special perceptual phenomenon in which some people can experience a tingling, staticlike sensation in response to some certain auditory or visual stimulations.” Such that, while watching the ASMR video, one experiences pleasant feelings as a response to certain sounds, visuals, feelings, or descriptions, leading to contentment and relaxation. ASMR videos have become popular of late as international Covid-19 travel restrictions continue to put a damper on global tourism. According to the latest report from the United Nations World Tourism Organization (UNWTO), while global tourism increased by 4 percent in 2021, international tourist arrivals in terms of overnight visitors, were still off by 72 percent from the prepandemic year of 2019. The DOT has launched four ini-

(MW) and 647MW respectively. A red alert status, meanwhile, is issued when supplies are insufficient to meet consumer demand and the transmission grid’s regulating requirement. Based on data presented by the agency, the average forced outage of power plants that could experience problems is at 536 megawatts (MW). Some power plants could also experience prolonged outages. The DOE stressed that contingency measures are being put in place to avert brownouts. “Without forced outages, we really don’t have problems. But if we see forced outages, we also have solutions and we have a game plan,”said DOE Undersecretary Felix William Fuentebella. These include power generation capacities from new power projects, amended schedule of power plant maintenance, and the High Voltage Direct Current (HVDC) transmission system. “There’s the HVDC from Visayas. In the outlook, it’s only 150 to 200MW, but it can be maximized to 350MW. We will also move the scheduled maintenance of Kalayaan and San Roque, which fall on those two weeks. The SMC Mariveles Unit 1 (150MW) will also start commercial operations, as well as the GNDP’s 150MW,” said DOE Assistant Secretary Redentor Delola. Lenie Lectura

Senate adopts 3 amnesty measures for 3 groups

MEANWHILE, according to UNWTO’s Panel of Experts, most tourism professionals (61 percent of those surveyed) see better prospects for 2022. Fifty-eight percent project a rebound by the third quarter of the year, while 42 percent see a “potential rebound only in 2023.” Majority of its experts (64 percent) now predict international arrivals to return to 2019 levels only in 2024 or later, up from 45 percent in the September survey. Initial data from January to September 2021 showed the pace of tourism recovery remains slow and uneven across world “due to varying degrees of mobility restrictions, vaccination rates, and traveler confidence.”

HE Senate on Monday adopted three measures granting amnesty to members of three rebel groups that have committed crimes punishable under the Revised Penal Code and special penal laws in pursuit of their political beliefs. Sponsored by Sen. Panfilo “Ping” Lacson, chairman of the Committee on National Defense and Security, Peace, Unification, House Concurrent Resolution Nos. 12, 13 and 14 were adopted with 18 affirmative votes, zero negative vote and no abstention. The resolutions concurred with Presidential Proclamation Nos. 1090, 1091 and 1092 signed by President Rodrigo Duterte on February 5, 2021, which grant amnesty to members of the Moro Islamic Liberation Front (MILF), Moro National Liberation Front (MNLF), and the Rebolusyonaryong Partido ng Manggagawa ng Pilipinas-Revolutionary Proletarian Army-Alex Boncayao Brigade (RPMP-RPAABB), respectively. With the amnesty grants, Lacson said, the government is giving out second chances to over 7,600 prospective applicants who are willing to have a new start in life in a secure place in society. “Never in our history has our nation sought and demanded a ‘time of healing’ with much fervor and tenacity than we do today—healing from the health crisis which scarred our people; healing from the economic, social, and political distress that, by and large, spoiled our nation,” Lacson said in his omnibus sponsorship speech on Committee Reports 372, 373 and 374 recommending the adoption of the resolutions. The amnesty, however, shall not be granted to those who have already been proscribed or those charged under Republic Act (RA) No. 9372, otherwise known as the Human Security Act of 2007, or RA No. 11479 or the Anti-Terrorism Act of 2020.

See “DOT,” A2

See “Senate,” A2

tial ASMR videos featuring the remote town of Barlig, at the foothills of Mt. Amuyao in the Mountain Province of the Cordilleras. The video shows a journey through the town’s quiet pathways until reaching the summit of the mountain. The Cordillera Autonomous Region is popular among European tourists, who are fascinated with the customs and traditions of the local folk, and want to experience local art and culture, while enjoying the chilly mountain weather. With the Mountain Province is currently under Alert Level 4, and the rest of the country is observing different alert levels with some travel requirements, “These ASMR videos will allow viewers to experience the grandeur of the province and each travel destination no matter where they are, through their smart phones and other electronic gadgets,” said Romulo Puyat. The first video in the Mountain Province series, featuring a walk through Barlig, is available on DOT’s YouTube Channel. The succeeding videos will explore Ilocos Norte, and other destinations in Visayas and Mindanao.

UNWTO experts see rebound

Companies

Editor: Jennifer A. Ng

Wednesday, January 26, 2022

PCC: No need to scrutinize Robinsons-Ministop deal

By Tyrone Jasper C. Piad

@jearcalas

he Philippine Competition Commission (PCC) said on Tuesday that the Gokongwei Group’s full takeover of convenience store chain Ministop Philippines no longer needs to undergo competition review. PCC Chairman Arsenio M. Balisacan said in a statement that the transaction is not expected to change the “economic behavior” of the firm despite the share sale. Gokongwei-led Robinsons Retail Holdings Inc. (RRHI), through its subsidiary Robinsons Supermarket Corp., currently already owns the 60

percent of Robinsons Convenience Stores Inc. (RCSI), which is the exclusive local franchisee of Ministop. The deal involves Robinsons buying out Ministop Japan’s 40 percent stake in RCSI next month, providing the former full ownership. Prior to the transaction, PCC said Robinsons already has a majority

stake in Ministop, giving the company “control.” As such, the competition watchdog said the parties do not need to notify the proposed acquisition to them anymore. “Merger reviews are focused on the effects and changes of market behavior in the hands of new owners or stakeholders. This transaction may result in a change in ownership of a significant portion of equity but it is not likely to have an effect on the economic behavior of the target firm,” Balisacan said. The antitrust commission said it will continue monitoring mergers moving forward in a bid to keep a healthy level of competition in the market. Last year, PCC assessed four merger and acquisition (M&A) transactions amounting to P470 billion. Two of these transactions were approved while the other were

withdrawn as they were exempted from compulsory notification. The 2021 figure is much lower compared to the 26 M&A notifications amounting to P909 billion recorded in 2020. The competition watchdog attributed the fewer M&A reviews last year to a higher threshold for compulsory merger notification. Meanwhile, PCC’s Competition Enforcement Office (CEO) is currently undertaking one preliminary inquiry and 18 full administrative investigations (FAI). The PCC unit opened 10 FAIs last year to look into complaints involving firms in the telecommunications, water, energy and health industries. As of December 26, 2021, CEO has looked into 869 enforcement inquiries and complaints, including those of possible cartels and abuses of dominance.

SPNEC plans stock rights offer By Lenie Lectura @llectura

olar Philippines Nueva Ecija Corp. (SPNEC) is planning to conduct a stock rights offering and forge more joint ventures to fulfill its goal of developing 10 gigawatts (GW) of solar power projects. It said Tuesday that it is finalizing plans for 10GW of solar projects. “This would be enabled by asset-forshare swaps with its parent, Solar Philippines.” SPNEC has not yet approved any asset-for-share swap, which is subject to a third-party valuation and fairness opinion by an independent financial advisor. Solar Philippines’ portfolio now

Globe taps Advent’s fuel cell technology

dvent Technologies Holdings Inc., an innovationdriven leader in the fuel cell and hydrogen technology space, will upgrade Globe Telecom Inc.’s rooftop sites in the Philippines with 10kilowatt (kW) SereneU fuel cell systems. By deploying Advent’s SereneU fuel cells, Globe aims to reduce carbon emissions across its network, consume cleaner fuel in smaller quantities, achieve lower emissions, and maintain energy-efficient heat removal. Globe’s commitment to establishing science-based targets and net-zero emissions by 2050 is in line with the Paris Agreement and #RacetoZero. The Paris Agreement aims to limit global warming to 1.5 degrees Celsius compared to pre-industrial levels. Race to Zero is the United Nations-backed global campaign rallying non-state stakeholders to take rigorous and immediate action to halve global emissions by 2030 and deliver a healthier, fairer zero-carbon world by 2050. “In support of the Race to Zero global campaign, Globe continues to innovate and collaborate with partners to integrate sustainability and champion energy efficiency throughout the entire organization,” said Globe President and Chief Executive Officer Ernest Cu. Lenie Lectura

comprises over 20 solar project companies, which include over 400 megawatts (MW) already operating or under construction, and over 10 GW in development. These developments are located primarily in the provinces of Nueva Ecija, Batangas, Bulacan, and Tarlac, where Solar Philippines has spent the past years consolidating land suitable for solar in relative proximity to the Greater Manila Area. “To support the development of these projects, SPNEC may conduct a possible stock rights offering, and form joint ventures,” it said. SPNEC added that the solar projects of this scale would only be made possible by partnering with the country’s leading power companies.

“Our aim is not to compete with the country’s power companies, but to make it easier for them to build solar projects, so that together, we can make solar the largest source of energy in the Philippines,” said Solar Philippines founder Leandro Leviste. Solar Philippines has recently formed joint ventures for several of its projects. The company plans to complete forming joint ventures for its 10 GW of solar project developments within 2022, with its interest in these projects subject to the potential asset-for-share swaps with SPNEC. It recently partnered with Razonled Prime Infrastructure Holdings, Corp. to expand its solar project in Tarlac to up to 200MW.

SPNEC earlier sold 2.7 billion shares in its initial public offering (IPO) for P1 apiece. It closed yesterday at P1.96 percent share, up 96 percent since its IPO. Net proceeds from the IPO will finance a 500MW solar power plant and will be used to acquire a lot in Nueva Ecija for the project. Its other projects include a 63MW plant in Batangas in partnership with Korea Electric Power Corp. and two more in Batangas and Cavite with a combined capacity of 140 MW which are expected to be fully operational by 2022. SPNEC said that based on Department of Energy figures, the country’s grid-connected solar capacity as of end-2020 stood at 1.021 GW.

Darwinbox secures $72-M fund

ndian human resources (HR) solution firm Darwinbox has raised some $72 million in its latest funding round, which includes the Gokongwei’s venture capital fund. Darwinbox said the latest funding round has given the company unicorn status, a term used by the venture capitalists to describe a start-up with value of over $1 billion. The latest round of funding was led by Technology Crossover Ventures along with participation from existing investors Salesforce Ventures, Sequoia, Lightspeed, SCB 10X, JG Digital Equity Ventures, Endiya Partners and 3One4Capital. The total investment in the company now reached over $110 million, it said. Since the last fund raise from Salesforce Ventures 12 months ago, the company has grown four times in the Philippines. “It is expecting higher growth this year owing to enhanced demand for digital tools in the workplace post pandemic,” the company said in a statement. The new funding will be used for the company’s global expansion plan by allowing it to accelerate its platform innovation, strengthen its product, engineering and customer success teams along with scaling their go-to-market presence in multiple geographies. The company is set to triple its team within a year aiming to add more than 100 employees in southeast Asia across its Manila, Singapore

and Jakarta offices. Juancho Jerusalem, the company’s vice president and head of Asia Pacific expansion, said the firm will expand its operations in the Philippines targeting the conglomerates, banking, retail, manufacturing sector that have a lot of blue-collar workers and other start-ups. Jerusalem said previous to the pandemic, many local companies have sidelined the importance of securing human resources technology, or those applications that manages the company’s workforce, and mostly centered on how they can bring more customers into the company. With the pandemic, however, companies now need to track their workforce’s productivity, including their vaccination status, especially with the work-from-anywhere status of many white-collar workers, while blue-collared workers need to report to the factory lines on a daily basis. “The hybrid working environment in the Philippines is here to stay,” Jerusalem said. Founded in late 2015, Darwinbox’s cloud based human capital management platform caters to human resources needs across the entire employee lifecycle. Their new product is powering digital HR for more than 1.5 million employees from 650 enterprises across the globe. This includes local firms like JG Summit Holdings, Robinsons Bank, Straive which now became SPi Global, Shakey’s Pizza, NutriAsia, Delbros Group, along with leading

southeast Asian firms Tokopedia, Zalora, Zilingo, Wilmar, Mitra Adiperkasa, Indorama, parts of Salim, Djarum group. “We are fortunate to have a strategic and dedicated partner in Darwinbox. As a customer-centric organization, we are happy to be working with a partner who shares the same ideals as ours,” said Lance Y. Gokongwei, president and CEO of JG Summit Holdings Inc. “Darwinbox genuinely values our feedback, and is committed to continuously improve their platform based on our needs. This collaborative partnership helps us achieve our HR goals faster and smarter, ensuring that our employees always have a rewarding and seamless experience.” JG Summit uses Darwinbox’s platform to digitalize HR for several of the group companies under the Gokongwei Group which include JG Summit, Robinsons Retail Holdings Inc. and Summit Media. “This investment energizes our mission to continue building technology that enables organizations to unlock the highest potential of their people. We have done this by building a product that puts employees squarely at the center and crafting meaningful experiences for them,” said Jayant Paleti, co-founder of Darwinbox. “This has especially found resonance in this rapidly evolving world of work over the last two years with companies having to rethink how they attract, manage and retain their talent.” VG Cabuag

SEC issues draft rules for SRI Fund

BusinessMirror file photo

By VG Cabuag @villygc

he Securities and Exchange Commission (SEC) is seeking public comments on its draft rules for companies that will create a Sustainable and Responsible Investment (SRI) Fund. In a draft memorandum circular (MC), which is open for public comment until February 2, the SEC said the rules aim to prevent investors from rolling out greenwashing schemes. Greenwashing is a form of communication and marketing strategy adopted by companies or other organizations, conveying a false impression or providing misleading information about how a company’s products are more environmentally sound. Its main aim is to deceive consumers into believing that a company’s products are environmentally friendly so they can charge more. “The Commission promotes sustainable business practices, investments in sustainability-related products and expansion of its market,” the draft MC read. The new rules will be applied to a newly formed or existing investment company that seeks to qualify, or has qualified, as a Sustainable and Responsible Investment (SRI) Fund, including any sub-fund of an umbrella fund, which adopts sustainability considerations or environmental, social, and governance (ESG) factors as its key investment focus. It will also cover non-SRI funds that incorporate or seek to include sustainability or ESG factors or considerations in its investment objective and disclose such information in its registration statement. The SEC also listed some of the

sustainable principles that may be used by the SRI fund, which include the 17 sustainable development goals of the United Nations, the 10 principles of the UN Global Compact, Common Principles for Climate Mitigation Finance Tracking, Green Bond Principles of the International Capital Market Association, Climate Bonds Taxonomy of the Climate Bonds Initiative, and other nationally or globally acceptable ESG or sustainability principles or criteria. The commission listed some of the strategies to achieve its investment objectives relating to sustainability or ESG, which may include negative or exclusionary screening. This excludes companies, sectors, activities that deal with alcohol, tobacco, gambling, nuclear power or energy, military weapons, fossil fuels, or countries with repressive regimes from the investment universe. Other strategies include Best in Class or Positive Screening, which prioritizes investing in companies with higher ESG scores or those that outperform its peers in terms of ESG performance; and ESG Integration, which incorporates ESG data in the investment selection process and analyzes the environmental, social and governance qualities of a company together with the traditional financial analysis. To enhance the visibility of SRI Funds, the SEC said a list of qualified investment companies or sub-funds in case of an umbrella fund will be uploaded and updated regularly at the SEC website dedicated for investment companies and social media accounts of the agency. “An SRI Fund that no longer qualifies under the requirements of these rules and any amendments thereto will be removed from the list.”

Companies BusinessMirror

Wednesday, January 26, 2022

Zyllem keen on expanding operations in PHL–exec

By Lorenz S. Marasigan

@lorenzmarasigan

s the e-commerce industry in the Philippines continues to rise, cloud-based logistics technology provider Zyllem plans to capitalize on the growing need for logistics transport services and expand its operations in the country. Zyllem COO and Co-Founder Lisa Nguyen said the Philippines is “an important market” for the company given that its e-commerce industry recorded 93 percent growth in gross merchandise value to $17 billion and its $11-billion logistics sector, which is “ripe for distribution through digitalization.” “Zyllem is poised to capitalize on this growth as more businesses are seeing the necessity to provide bet-

ter and faster services, and look to optimize their logistics network to meet their customer’s orders,” she said in an interview. “As the fastest growing digital economy in the region, the Philippines is an important market for us to achieve that. The Philippines presents an exciting opportunity to help companies digitize and optimize their logistics network, eliminating legacy systems, despite

the numerous unique logistical challenges that the country presents.” Zyllem is a cloud-based software that allows companies to manage and operate their entire logistics distribution network in a “more efficient, simplified, and transparent way.” Joanna Pawluczuk, Head of Sales at Zyllem, added that logistics in the Philippines represents a “tremendous challenge” due to its geographic makeup which relies heavily on maritime transport to move goods domestically and internationally, which is further complicated by inconsistent regulations between port authorities. “Logistics networks are often fragmented with companies having to manage multiple third party logistics partners and middlemen. Zyllem solves operational pain points with data gathered and fed into a unified dashboard, where customers will be able to take control of their logistic network and streamline their operations,” she said. The company is able to optimize

routes and reduce time spent on planning by 85 percent, allowing drivers to complete up to 30 percent more deliveries per day. This, she said, results in an enhanced customer experience. The company has so far been tapped by pharmaceutical group Zuellig Pharma, Metro Drug Inc, logistics firm Airspeed, and wholesale grocery distribution company Suy Sing. Pawluczuk said the group is targeting to gain more customers in sectors such as health, food and beverage, retail, and logistics. “We are focused on any customer that has distribution needs. Based on our current customer base, we are definitely focused on medical distribution, food and beverage distribution, retail, and helping directly logistics and transportation companies in managing their challenges. But any distribution of any kind or retailer of any type of product is a perfect customer for Zyllem,” she said.

DOE seeks bidders for 2,000MW RE supply

he Department of Energy (DOE) has issued a bid invite for 2,000 megawatts (MW) of renewable energy (RE) supply. In a notice, the agency said 1,400MW will be auctioned off in Luzon, 400MW in Visayas and 200MW in Mindanao. “The DOE, through the Green Energy Auction Committee [GEAC], invites all qualified suppliers to participate in the first round of the Green Energy Auction for Renewable Energy. The auction shall cover Luzon, Visayas and Mindanao,” it said in the bid invite posted on its website. Energy Secretary Alfonso G. Cusi signed the bid invite last January 18.

The agency has set an installation target of 900MW of solar in Luzon, 260MW in Visayas, and 100MW in Mindanao. For wind, the target is set at 360MW for Luzon and 20MW for Visayas. For hydro, the installation target for Luzon is 80W and 50MW for Mindanao. The installation target for biomass, meanwhile, is set at 60MW for Luzon, 120MW for Visayas, and 50MW for Mindanao. The agency will hold a pre-bid conference next month. Department circular no. 202111-0036 provides for the revised guidelines for the Green Energy Auction Program (GEAP), which refers to the competitive process of procuring renewable energy supply. It will be conducted for new and existing RE capacities duly registered with the DOE, provided the facilities have no purchase power agreement with distribution utilities or other offtakes at the time of the agreed delivery date. Lenie Lectura

mutual funds

January 25, 2022

NAV

One Year Three Year

Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

231.02

3.07%

-4.92%

-2.09%

-0.89%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5995

23.01%

2.55%

2.7%

-3.89%

3.1%

-8.48%

-4.9%

-1.45%

-7.6% n.a.

-0.12%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1908

Climbs Share Capital Equity Investment Fund Corp. -a 0.7556 -3.99% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7525 3.21%

-5.12% n.a.

-2.39%

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

-2.74%

-0.22%

-0.82%

4.3%

-4.68%

-3.61%

-8.59% n.a.

-0.78%

5.1404

5.21%

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

0.7755

MBG Equity Investment Fund, Inc. -a

93.69

-8.48%

PAMI Equity Index Fund, Inc. -a

47.5474

2.93%

-3.57%

-0.49%

-1.21%

Philam Strategic Growth Fund, Inc. -a

496.22

2.87%

-3.37%

-0.96%

-0.89%

Philequity Dividend Yield Fund, Inc. -a

1.3871

19.77%

1.39%

2.38%

2.27%

Philequity Fund, Inc. -a

36.352

5.84%

-2.44%

0.59%

-0.66% -0.57%

0.936

3.85%

-3.91% n.a.

Philequity PSE Index Fund Inc. -a

Philequity MSCI Philippine Index Fund, Inc. -a

4.9026

3.76%

-2.89%

0.11%

-1.17%

Philippine Stock Index Fund Corp. -a

818.86

3.56%

-2.9%

0.07%

-1.16%

0.738

3.86%

-6.86%

-3.05%

-1.94%

3.94%

-4.89%

-1.35%

-1.23%

0.933

3.07%

-3.23%

-0.15%

3.47%

-3%

0.4%

-1.39%

Soldivo Strategic Growth Fund, Inc. -a

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7289 Sun Life Prosperity Philippine Stock Index Fund, Inc. -a United Fund, Inc. -a

3.3895

-1%

-1.22%

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

1.1634

Philippine Stock Index Fund Corp. -a

7.07% n.a. n.a.

0.06%

1009.43 n.a. n.a. n.a. n.a.

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

110.2087

3.86%

-2.69%

0.55%

-1.14%

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

$1.1214

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7258

-16.35%

5.33%

4.99%

-0.45%

-0.44%

13.53%

10.29%

-6.53%

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

1.6769

0.28%

-1.15%

-0.71%

ATRAM Philippine Balanced Fund, Inc. -a

2.2784

0.18%

-0.43%

-0.19%

-0.14%

2.77%

0.32%

1.18%

-0.39%

First Metro Save and Learn Balanced Fund Inc. -a 2.6806

-0.89%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2124

7.76% n.a. n.a.

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

2.41%

1.54%

1.7%

2.0062

PAMI Horizon Fund, Inc. -a

3.7451

-0.55%

0.99%

0.58%

-0.53%

Philam Fund, Inc. -a

16.7624

-0.46%

0.57%

0.5%

-0.49%

Solidaritas Fund, Inc. -a

2.1096

1.33%

-0.81%

0.32%

-0.56%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6168 1.76%

-1.9%

-0.19%

-0.83%

-0.51%

0.34%

0.07%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.9549

7.97%

1.63%

-0.52%

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

0.9796

-3.85% n.a. n.a.

-1.03%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.9352

-0.38% n.a. n.a.

-0.98%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.9238

0.22% n.a. n.a.

-1.08%

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

$0.03723

-4.73%

1.62%

1.05%

$1.0729

-13.06%

4.13%

3.43%

0.54%

-1.16%

9.71%

7.65%

-4.52%

5.11%

3.88%

-2.93%

PAMI Asia Balanced Fund, Inc. -b

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.585

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1635 -2.77%

-1.87%

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

374.68

0.83%

2.84%

2.56%

0.1% 0.07%

ATRAM Corporate Bond Fund, Inc. -a

1.8861

-0.89%

0.31%

0.01%

Cocolife Fixed Income Fund, Inc. -a

3.2481

0.95%

2.9%

3.85%

0.13%

Ekklesia Mutual Fund Inc. -a

2.2497

-2.23%

1.66%

1.44%

-0.08%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4275 -1.06%

2.98%

1.84%

0.06%

Philam Bond Fund, Inc. -a

4.23%

1.49%

-0.04%

4.3939

-5.53%

Philam Managed Income Fund, Inc. -a

1.3196

-0.24%

3.73%

2.85%

0.04%

Philequity Peso Bond Fund, Inc. -a

3.9888

-0.01%

3.83%

2.74%

0.58% 0.08%

1.029

-1.22%

4.22%

2.02%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1914

Soldivo Bond Fund, Inc. -a

-0.57%

4.3%

3.21%

0.13%

Sun Life Prosperity GS Fund, Inc. -a

-1.17%

3.47%

2.58%

0.15%

1.7332

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

$488.98

0.93%

2.83%

2.43%

-0.12%

ALFM Euro Bond Fund, Inc. -a

Є219.41

0.05%

0.94%

0.98%

-0.27%

ATRAM Total Return Dollar Bond Fund, Inc. -b

$1.1926

-6.89%

1.64%

1.54%

-0.94%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 -2.27%

1.19%

0.79%

-0.77%

PAMI Global Bond Fund, Inc -b

$1.0019

-8.2%

-1.21%

-1.08%

-2.04%

Philam Dollar Bond Fund, Inc. -a

$2.4554

-3.07%

3.79%

2.33%

-2.01%

$0.0620669

-0.48%

2.79%

1.88%

-0.36%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1151 -3.18%

2.45%

1.15%

-2.54%

Philequity Dollar Income Fund Inc. -a

Money Market Funds Primarily invested in Peso securities (shares) 131.3

1.05%

2.66%

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

ALFM Money Market Fund, Inc. -a

1.0587

0.96% n.a. n.a.

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

1.48%

2.52%

1.317

2.55% 2.53%

0.08% 0.09%

0.11%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0609

0.74%

1.4% n.a.

0.03%

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

46.58 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3415

14.57% n.a. n.a.

-2.99%

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

$0.94

-5.05% n.a. n.a.

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

c - Listed in the PSE.

-3.09%

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

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

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

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

January 25, 2022

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG FILIPINO FUND PHIL STOCK EXCH

79,500 181,237,743 119,435,621 358,600 1,325,145 166,113,883 1,005,055 112,422 5,155 381,854 135,086,227 8,584,914.50 1,087,780 168,480 78,930 3,912 235,200

-17,640 -28,906,730 28,004,365.50 -900,914 -24,239,391 -18,110 16,000 -23,540,083 126,739.50 -3,600 -

INDUSTRIAL AC ENERGY 9.6 9.63 9.58 9.67 9.53 9.63 10,764,900 103,429,917 1.03 1.05 1.04 1.06 1.03 1.04 508,000 526,410 ALSONS CONS 32.45 32.5 32.35 32.9 32 32.5 2,057,200 66,282,095 ABOITIZ POWER BASIC ENERGY 0.54 0.55 0.54 0.56 0.54 0.55 4,089,000 2,250,350 FIRST GEN 27.1 27.15 27.2 27.3 27.1 27.15 935,900 25,430,240 70.2 70.75 70.1 70.8 70.1 70.2 6,850 481,462 FIRST PHIL HLDG 324.4 324.8 315 325 314.8 324.4 344,800 111,236,832 MERALCO 24.8 24.85 24.9 24.95 24.6 24.85 675,700 16,776,955 MANILA WATER PETRON 3.28 3.29 3.3 3.32 3.29 3.29 655,000 2,156,840 PHX PETROLEUM 10.54 10.82 10.72 10.82 10.6 10.82 8,100 87,122 12.88 12.9 12.9 13 12.8 12.9 1,564,600 20,139,020 SYNERGY GRID 18.98 19 19 19.02 18.96 19 326,600 6,204,048 PILIPINAS SHELL 14.12 14.22 14.1 14.24 14.1 14.22 83,900 1,188,484 SPC POWER SOLAR PH 2.01 2.02 1.98 2.06 1.88 2.02 405,397,000 804,358,410 AGRINURTURE 4.7 4.74 4.79 4.9 4.74 4.74 172,000 834,760 2.88 2.89 2.88 2.88 2.86 2.88 103,000 296,560 AXELUM 12.98 13.58 13.58 13.58 13.58 13.58 100 1,358 CNTRL AZUCARERA CENTURY FOOD 26.5 26.55 26.15 26.6 26.15 26.5 1,101,900 29,229,820 DEL MONTE 15.62 15.7 15.86 15.88 15.5 15.7 85,000 1,335,838 DNL INDUS 8.44 8.45 8.58 8.64 8.4 8.45 1,468,500 12,429,236 19.7 19.78 19.36 19.8 19.3 19.7 3,055,600 59,692,138 EMPERADOR 69 70 69.95 70 68.9 70 87,200 6,044,608.50 SMC FOODANDBEV FIGARO COFFEE 0.78 0.79 0.79 0.79 0.74 0.78 158,257,000 121,256,590 ALLIANCE SELECT 0.61 0.62 0.62 0.62 0.6 0.62 13,000 8,040 1.24 1.27 1.26 1.28 1.22 1.27 26,707,000 33,337,430 FRUITAS HLDG 115.9 117 113.8 117.6 113 115.9 25,630 2,972,977 GINEBRA 232.4 232.8 229 233 228.2 232.8 554,180 128,247,888 JOLLIBEE KEEPERS HLDG 1.35 1.36 1.35 1.36 1.34 1.35 2,787,000 3,763,220 MAXS GROUP 6.45 6.5 6.4 6.45 6.4 6.45 41,600 267,423 0.14 0.145 0.14 0.147 0.14 0.147 370,000 53,690 MG HLDG 16.72 16.8 16.66 16.8 16.6 16.8 15,133,200 252,823,620 MONDE NISSIN 9.5 9.59 9.4 9.6 9.4 9.5 46,400 441,345 SHAKEYS PIZZA ROXAS AND CO 0.66 0.67 0.69 0.69 0.66 0.66 3,721,000 2,521,550 SWIFT FOODS 0.103 0.104 0.102 0.104 0.102 0.104 80,000 8,220 127.8 127.9 128 128 127.1 127.9 752,170 96,155,434 UNIV ROBINA 0.69 0.7 0.7 0.7 0.65 0.7 1,318,000 892,320 VITARICH 2.41 2.53 2.53 2.53 2.53 2.53 2,000 5,060 VICTORIAS CEMEX HLDG 1.07 1.08 1.07 1.09 1.05 1.08 2,778,000 2,944,300 EAGLE CEMENT 14.32 14.6 14.5 14.6 14.22 14.6 212,000 3,092,366 6.2 6.22 6.24 6.24 6.2 6.2 91,700 568,707 EEI CORP 5.85 5.9 5.84 5.85 5.81 5.85 205,500 1,197,705 HOLCIM 5.01 5.03 5.07 5.09 5.01 5.01 807,800 4,061,030 MEGAWIDE PHINMA 20.9 20.95 20.9 21 20.9 21 10,000 209,960 TKC METALS 0.77 0.78 0.77 0.78 0.77 0.78 24,000 18,710 0.88 0.9 0.9 0.91 0.89 0.9 1,008,000 905,970 VULCAN INDL 1.69 1.73 1.69 1.7 1.68 1.7 60,000 101,650 CROWN ASIA 1.41 1.49 1.5 1.5 1.4 1.49 34,000 49,020 EUROMED PRYCE CORP 5.65 5.7 5.65 5.7 5.65 5.7 14,200 80,335 2.06 2.1 2.1 2.13 2.06 2.1 5,764,000 12,059,750 GREENERGY 10.22 10.28 9.86 10.4 9.86 10.22 6,234,600 63,020,574 INTEGRATED MICR 0.7 0.71 0.71 0.71 0.71 0.71 320,000 227,200 IONICS PANASONIC 5.82 6.1 6.02 6.1 5.8 6.1 22,700 137,480 1.07 1.1 1.11 1.11 1.08 1.1 62,000 67,210 SFA SEMICON 3.57 3.58 3.71 3.72 3.57 3.58 2,752,000 9,957,140 CIRTEK HLDG

11,579,999 -8,480 3,908,610 286,550 8,378,745 2,106 53,984,118 -886,720 -138,600 -2,847,530 -173,224 3,031,690 -165,750 -941,775 -442,988 423,540 234,286 -66,781.50 1,798,430 -754,960 -12,061 29,221,298 -6,550 27,974,686 -298,590 402,580 19,713,922 -690,430.00 -1,900,250 21,480 -558,167 -487,223 519,589 -8,360 -1,937,000 -4,926,592 435,900

HOLDING & FRIMS ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG GT CAPITAL JG SUMMIT KEPPEL HLDG A KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP WELLEX INDUS ZEUS HLDG

44.1 127.1 94.75 25.4 9.26 56.25 20.3 57.7 103.1 20 107.6 97 1.75 4.09 3.15 6.52 209.2

0.91 872 62.2 12.36 7.9 0.59 0.64 5.1 8.26 555 60.4 6.2 6.21 0.63 3.26 10.06 3.81 1.16 1.08 950 111.3 0.23 0.172

44.5 127.2 94.9 25.65 9.28 56.4 20.35 57.8 114.9 20.6 108.4 97.5 1.8 4.11 3.26 7.69 210

0.94 873 64.05 12.38 7.92 0.62 0.65 5.12 8.27 560 61 6.8 8.08 0.65 3.28 10.08 3.83 1.2 1.14 952 112.5 0.245 0.177

44.1 128 93.6 25.3 9.26 57 20.45 58.2 103.1 20 110 98.05 1.8 4.11 3.19 6.52 210

0.92 867 63.5 12.38 7.95 0.55 0.57 5.1 8.17 557.5 61 6.2 8.08 0.66 3.26 10.18 3.84 1.15 1.09 952 112 0.22 0.173

44.5 128.2 94.95 25.65 9.3 57.3 20.65 58.2 103.1 20 111 98.05 1.82 4.11 3.19 6.52 210

0.94 875 64.05 12.4 7.95 0.64 0.7 5.1 8.3 560 61 6.2 8.08 0.68 3.3 10.26 3.85 1.16 1.14 954.5 112.5 0.22 0.175

44.1 127 93.3 25.3 9.25 56.25 20.3 57.8 103.1 19.98 107.6 96.6 1.8 4.1 3.15 6.52 210

0.9 864 62 12.1 7.9 0.55 0.57 5.07 8.11 552 60.05 6.2 8 0.64 3.26 10.04 3.8 1.15 1.08 947 110.9 0.22 0.172

44.5 127.2 94.9 25.65 9.26 56.25 20.35 57.8 103.1 20 107.6 97 1.81 4.1 3.15 6.52 210

0.94 873 64.05 12.36 7.92 0.59 0.65 5.1 8.26 560 61 6.2 8 0.65 3.28 10.08 3.81 1.15 1.14 950 112.5 0.22 0.175

1,800 1,423,130 1,264,700 14,100 143,000 2,926,160 49,300 1,940 50 19,100 1,245,580 88,340 601,000 41,000 25,000 600 1,120

12,332,000 163,530 1,103,110 2,928,200 29,300 11,673,000 1,530,000 2,165,600 2,449,500 109,370 739,290 300 800 165,000 52,000 2,196,900 19,381,000 48,000 49,000 157,050 50,670 150,000 820,000

11,385,050 142,579,390 69,735,090 35,988,308 232,101 7,019,650 991,240 11,043,680 20,145,177 60,976,325 44,852,848.50 1,860 6,456 106,840 170,680 22,350,530 73,977,010 55,210 53,410 149,250,585 5,666,230 33,000 142,140

PROPERTY

ARTHALAND CORP 0.6 0.61 0.6 0.6 0.6 0.6 80,000 48,000 34.75 34.8 35 35.2 34.6 34.75 7,499,000 260,762,060 AYALA LAND 6 6.05 5.9 6.1 5.84 6.05 4,655,500 27,740,277 AYALA LAND LOG ARANETA PROP 1.02 1.03 1.03 1.03 1.03 1.03 12,000 12,360 51.55 52 52 52 51.3 51.55 184,940 9,560,302 AREIT RT 0.76 0.79 0.77 0.8 0.75 0.79 833,000 630,030 A BROWN 0.74 0.75 0.74 0.74 0.74 0.74 6,000 4,440 CITYLAND DEVT 0.098 0.105 0.107 0.107 0.098 0.106 11,160,000 1,094,300 CROWN EQUITIES CEB LANDMASTERS 2.88 2.89 2.9 2.9 2.88 2.88 439,000 1,268,610 CENTURY PROP 0.4 0.405 0.4 0.405 0.4 0.4 710,000 284,050 7.04 7.08 7.1 7.1 7.03 7.04 272,600 1,919,934 DOUBLEDRAGON 1.8 1.81 1.8 1.82 1.8 1.8 2,357,000 4,266,870 DDMP RT 6.75 6.77 6.77 6.77 6.75 6.77 25,300 171,265 DM WENCESLAO EMPIRE EAST 0.255 0.26 0.26 0.26 0.26 0.26 50,000 13,000 0.31 0.32 0.32 0.32 0.31 0.32 2,670,000 839,750 EVER GOTESCO 7.73 7.75 7.78 7.78 7.72 7.75 2,044,100 15,834,376 FILINVEST RT 1.09 1.1 1.08 1.1 1.08 1.09 2,219,000 2,404,210 FILINVEST LAND GLOBAL ESTATE 0.93 0.97 0.93 0.93 0.93 0.93 10,000 9,300 11.24 11.42 11.4 11.44 11.06 11.42 390,400 4,395,076 8990 HLDG PHIL INFRADEV 1.08 1.09 1.1 1.11 1.08 1.09 300,000 328,010 0.86 0.88 0.88 0.89 0.88 0.89 239,000 210,770 CITY AND LAND 3.16 3.2 3.19 3.2 3.14 3.2 4,344,000 13,779,180 MEGAWORLD MRC ALLIED 0.231 0.232 0.234 0.236 0.23 0.232 2,560,000 598,190 22.05 22.1 22 22.4 21.85 22.1 5,359,600 118,215,280 MREIT RT OMICO CORP 0.34 0.345 0.34 0.345 0.34 0.345 600,000 204,050 0.49 0.495 0.51 0.51 0.485 0.495 3,778,000 1,843,045 PHIL ESTATES 2.09 2.1 2.04 2.1 2.01 2.1 838,000 1,745,030 PRIMEX CORP RL COMM RT 8.68 8.7 8.51 8.7 8.51 8.7 5,145,300 44,508,099 ROBINSONS LAND 18.66 18.88 18.96 18.96 18.66 18.88 661,500 12,481,360 PHIL REALTY 0.198 0.202 0.203 0.203 0.198 0.198 580,000 116,140 1.48 1.5 1.5 1.5 1.5 1.5 6,000 9,000 ROCKWELL 2.57 2.61 2.61 2.61 2.61 2.61 25,000 65,250 SHANG PROP STA LUCIA LAND 2.8 2.84 2.83 2.84 2.83 2.84 10,000 28,350 34.95 35.05 34.6 35.1 34.3 35.05 9,639,300 336,396,590 SM PRIME HLDG 0.58 0.61 0.58 0.58 0.58 0.58 3,000 1,740 SOC RESOURCES 3.5 3.64 3.53 3.64 3.5 3.64 49,000 171,950 VISTAMALLS 1.09 1.1 1.1 1.13 1.1 1.1 57,000 63,480 SUNTRUST HOME VISTA LAND 3.45 3.47 3.44 3.49 3.42 3.47 154,000 532,900 SERVICES ABS CBN 14.2 14.28 14.2 14.3 14.06 14.2 492,500 6,984,582 14.56 14.58 14.56 14.6 14.4 14.56 527,600 7,644,556 GMA NETWORK 0.42 0.435 0.435 0.435 0.42 0.435 110,000 47,400 MANILA BULLETIN GLOBE TELECOM 3,234 3,238 3,260 3,290 3,230 3,234 57,650 186,880,640 PLDT 1,880 1,886 1,860 1,888 1,859 1,886 58,670 110,371,385 0.074 0.075 0.075 0.078 0.072 0.075 196,840,000 14,875,210 APOLLO GLOBAL 30.85 31 30.5 31 30.2 31 5,317,700 163,185,670 CONVERGE 2.26 2.35 2.42 2.42 2.25 2.35 108,000 247,960 DFNN INC DITO CME HLDG 5.18 5.19 5.4 5.43 5.15 5.18 7,819,600 41,052,113 NOW CORP 1.35 1.36 1.35 1.37 1.31 1.35 1,605,000 2,173,640 0.34 0.345 0.34 0.35 0.335 0.345 1,850,000 630,700 TRANSPACIFIC BR 7.45 7.5 7.45 7.45 7.45 7.45 3,100 23,095 2GO GROUP 1.65 1.67 1.65 1.69 1.65 1.67 167,000 275,970 CHELSEA CEBU AIR 42.5 42.65 42 42.7 42 42.5 731,900 31,087,210 INTL CONTAINER 202 202.8 200.4 203.4 199 202 521,110 105,221,006 5.07 5.08 5.09 5.1 5.08 5.08 1,338,400 6,816,878 MACROASIA 1.02 1.04 1.02 1.04 1.02 1.04 6,000 6,200 METROALLIANCE A HARBOR STAR 0.83 0.86 0.83 0.86 0.83 0.86 16,000 13,700 ACESITE HOTEL 1.4 1.44 1.49 1.49 1.4 1.4 144,000 203,320 1.72 1.79 1.75 1.75 1.73 1.73 422,000 731,440 DISCOVERY WORLD 0.47 0.485 0.465 0.47 0.465 0.47 420,000 196,800 WATERFRONT 6.51 6.95 6.51 6.51 6.51 6.51 100 651 CENTRO ESCOLAR IPEOPLE 6.69 7.54 7.54 7.54 7.54 7.54 1,500 11,310 0.325 0.335 0.335 0.335 0.33 0.335 1,480,000 489,500 STI HLDG BELLE CORP 1.33 1.35 1.33 1.33 1.33 1.33 56,000 74,480 6.11 6.12 6.11 6.15 6.05 6.11 3,305,100 20,191,054 BLOOMBERRY 1.77 1.82 1.77 1.77 1.77 1.77 2,000 3,540 PACIFIC ONLINE LEISURE AND RES 1.37 1.39 1.39 1.39 1.36 1.39 240,000 331,600 PH RESORTS GRP 0.74 0.76 0.74 0.76 0.74 0.75 260,000 195,390 0.445 0.45 0.45 0.45 0.44 0.445 1,710,000 763,550 PREMIUM LEISURE 5.6 6.97 5.6 5.6 5.6 5.6 120,000 672,000 PHIL RACING 1.98 2 1.97 2 1.95 2 136,000 268,250 PHILWEB ALLDAY 0.59 0.6 0.59 0.61 0.59 0.59 27,127,000 16,167,030 BERJAYA 5.52 5.6 5.52 5.52 5.52 5.52 11,600 64,032 8.7 8.87 8.96 8.96 8.6 8.7 419,800 3,714,398 ALLHOME 1.37 1.38 1.38 1.38 1.37 1.38 609,000 834,440 METRO RETAIL 37 37.3 37.4 37.4 37 37 582,600 21,661,275 PUREGOLD ROBINSONS RTL 58.9 59 58.45 59.95 58.35 59 849,130 50,106,045.50 PHIL SEVEN CORP 86.5 87 86.2 87 86.05 87 1,150 99,639 1.06 1.07 1.1 1.1 1.07 1.07 1,331,000 1,431,490 SSI GROUP 28.45 28.65 27.25 28.75 27.25 28.45 2,433,700 68,521,200 WILCON DEPOT 0.229 0.24 0.24 0.24 0.24 0.24 60,000 14,400 APC GROUP EASYCALL 4 4.47 4 4 4 4 2,000 8,000 1.06 1.08 1.08 1.1 1.06 1.06 5,017,000 5,381,070 MEDILINES 0.55 0.56 0.56 0.57 0.55 0.55 4,412,000 2,464,570 PRMIERE HORIZON MINING & OIL ATOK 6 6.15 6 6.15 5.95 6.15 102,100 617,750 1.79 1.8 1.74 1.8 1.73 1.79 5,095,000 9,089,620 APEX MINING ATLAS MINING 6.06 6.07 6.1 6.1 6.07 6.07 500,600 3,041,925 4.96 5.15 4.95 4.95 4.95 4.95 12,000 59,400 BENGUET B 2.65 2.74 2.75 2.75 2.75 2.75 10,000 27,500 CENTURY PEAK 2.2 2.21 2.25 2.25 2.2 2.21 5,246,000 11,636,640 FERRONICKEL 0.135 0.137 0.138 0.14 0.135 0.135 8,320,000 1,126,490 LEPANTO A LEPANTO B 0.138 0.142 0.139 0.142 0.138 0.138 240,000 33,210 0.0097 0.01 0.0097 0.0097 0.0097 0.0097 500,000 4,850 MANILA MINING B 1.4 1.44 1.42 1.45 1.36 1.44 4,216,000 5,973,880 MARCVENTURES 0.99 1.02 0.99 1.02 0.99 0.99 20,000 19,970 NIHAO 5.8 5.81 5.85 5.88 5.68 5.81 6,850,100 39,816,991 NICKEL ASIA ORNTL PENINSULA 0.82 0.84 0.85 0.85 0.82 0.84 429,000 356,890 5.78 5.79 5.7 5.84 5.68 5.78 916,300 5,296,193 PX MINING 24.15 24.2 23.8 24.4 23.75 24.2 1,334,800 32,198,210 SEMIRARA MINING 0.007 0.0073 0.0073 0.0073 0.007 0.007 11,000,000 77,600 UNITED PARAGON ACE ENEXOR 33.4 33.45 31.7 33.6 31.7 33.45 101,000 3,329,590 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.011 56,400,000 643,500 0.011 0.012 0.011 0.011 0.011 0.011 4,100,000 45,100 ORNTL PETROL B 0.0094 0.0095 0.0094 0.0094 0.0094 0.0094 11,000,000 103,400 PHILODRILL 5.93 6 6.01 6.01 5.93 6 65,300 390,739 PXP ENERGY PREFFERED HOUSE PREF B 99.5 101 100.3 100.3 99.5 99.5 10,000 998,236 100.8 101.2 101 101 101 101 1,000 101,000 HOUSE PREF A 513 524.5 525 525 513 513 3,020 1,549,500 AC PREF B1 ALCO PREF D 512 524 513 513 512 512 2,600 1,331,800 515 520 515 515 515 515 100 51,500 AC PREF B2R 103.5 104 103.5 103.5 103.5 103.5 2,000 207,000 BRN PREF A 41.5 41.55 41.5 41.55 41.5 41.55 447,200 18,579,115 CEB PREF 99.6 100 100.8 100.8 99.6 99.6 171,940 17,255,167 DD PREF EEI PREF B 107.8 108 107.8 107.8 107.8 107.8 2,420 260,876 102.5 104.5 104.5 104.5 104.5 104.5 350 36,575 FGEN PREF G 100 101.2 101.2 101.2 101.2 101.2 90 9,108 MWIDE PREF 2B 99 100 99.5 99.5 99.5 99.5 430 42,785 MWIDE PREF 4 102 102.5 102.5 102.5 102 102 1,330 136,025 PNX PREF 3B PNX PREF 4 998 1,000 1,004 1,004 1,000 1,000 1,205 1,205,600 1,048 1,060 1,060 1,060 1,040 1,040 2,100 2,199,630 PCOR PREF 3A 1,095 1,129 1,129 1,129 1,129 1,129 40 45,160 PCOR PREF 3B 79.2 79.6 79.4 79.4 79.4 79.4 100 7,940 SMC PREF 2F SMC PREF 2H 75.9 76.9 77 77 75.9 75.9 45,670 3,468,325 79.5 79.6 79 79.6 79 79.6 80,290 6,348,893 SMC PREF 2I 76.5 77 76.9 77.1 76.9 77.1 1,150 88,564 SMC PREF 2J 75.85 75.9 75.85 75.85 75.85 75.85 16,820 1,275,797 SMC PREF 2K 53.3 53.5 53.5 53.5 53.5 53.5 4,000 214,000 TECH PREF B2D PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 13.9 14.02 14.2 14.2 13.9 13.9 69,700 977,884 WARRANTS TECH WARRANT 0.84 0.86 0.88 0.88 0.83 0.84 571,000 486,820

12,740 24,791,740 -3,537,646.50 170,976 2,600 -5,433,539.00 4,475,012.00 3,865,420 899,826 -5,162,764 -30,349,560 34,723,710 210,303 24,000 -22,915,370 274,495 -1,492,932 46,730 2,960 -28,870 -32,000 -60,706 -171,265 8,896,648 -285,190 186,464 -62,130 -52,800 3,180,340 -32,864,255 -4,859,863 1,387,064 9,900 163,742,655 31,250 13,708,490 13,214,870 781,320 -4,037,435 2,280 -1,020,189 204,750 -9,700.00 -2,572,795 31,699,876 -2,299,236 -830 6,700 256,627 38,630 44,500 -538,700 1,527,078.00 -8,896,070 92,449 -40,626 -1,080 11,212,425 -306,990 -176,520 -38,000 27,500 -101,680 56,000 9,973,214.00 17,559 -2,860,590 16,640 -18,541,765 90,000 10,460 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

18 1.31 1.03 2.82 2.03 0.45

18.38 1.32 1.05 2.85 2.04 0.46

EXHANGE TRADE FUNDS

FIRST METRO ETF

110.5

110.9

17.8 1.42 1.06 2.85 2.11 0.48

18.38 1.42 1.06 2.85 2.15 0.48

17.74 1.32 0.98 2.82 2.02 0.45

18 1.32 1.05 2.82 2.03 0.455

21,800 5,974,000 4,115,000 12,000 5,190,000 8,180,000

388,892 8,087,910 4,142,770 34,110 10,657,050 3,786,000

11,200 -26,300 -33,600 19,360 768,560 14,100

111.5 111.5 110.5 110.9 8,000 887,269 124,046

www.businessmirror.com.ph

Banking&Finance

LandBank denies hacking; says systems safe, secure By Joel R. San Juan @jrsanjuan1573

he Land Bank of the Philippines (Landbank) denied that its systems were hacked and that these remain secure. The LandBank issued its statement late evening of Monday “following reports that alleged unauthorized transactions were experienced by two teachers who maintain payroll accounts” with the stateowned lender. According to LandBank, its initial investigation revealed that the devices of the teachers were hacked via phishing, “which compromised their personal information.” The bank said its personnel has already reached out to the affected customers and are “working on the resolution of these isolated cases at the soonest possible time.” LandBank said it wants to assure customers that their accounts and personal information remain safe, “as the bank maintains the highest level of security in all its systems.”

NBI Probe

LAST Monday, Justice Secretary Menardo I. Guevarra announced that the National Bureau of Investigation-Cybercrime Division (NBI-CD) would likely look into the reported phishing schemes that affected accounts of the teachers. Guevarra issued a statement after the Teachers’ Dignity Coalition claimed it received a number of reports that some teachers lost as much as P121,000 each from their LandBank accounts.

Phishing involves the fraudulent practice of sending emails claiming to be from reputable companies to gain access to personal information of individuals, such as passwords and credit card numbers. “The NBI is already looking into phishing of bank accounts on a broader scale,” Guevarra said .”But I am minded to issue a separate directive to the NBI in the case of the teacher victims.”

Equipment, reminder

EARLIER, the DOJ said the NBI is set to acquire state-of-the-art investigative and intelligence equipment in order to keep pace with cyber fraudsters, particularly those involved in various financial scams. Last year, the NBI received more than 1,400 cyber-related complaints involving financial scams and other frauds and attacks. Meanwhile, Landbank said it advises the public to remain vigilant against phishing scams and all other forms of online banking fraud. The lender also wants to remind its customers “to refrain from opening suspicious emails, links and attachments and sharing your account and personal information.” “Official Landbank representatives will never ask for the critical financial information of customers,” the banks said. To report fraudulent activities, Landbank said its customers may contact their respective handling branch, the lender’s customer care hotline or via e-mail at customercare@ mail.landbank.com.

Worse than a zombie apocalypse

E all have a pretty good idea of what a zombie apocalypse is, largely due to the number and popularity of movies and television shows about zombies since George Romero released the first modern zombie movie “The Night of the Living Dead” in 1968. Although there could be some slight variations, a zombie apocalypse theme would remain consistent. Zombies would infect the unsuspecting general population leading to chaos and the collapse of civilization, bringing fear and terror to the uninfected. The latter would find ways to hide, isolate and protect themselves from the growing hoard of zombies, or the infected. Many people will be able to see the similarity between a zombie apocalypse and our current pandemic. First of all, no one knows for sure where it came from. Second, you can easily get infected from people that have it. Third, there is no sure way you can prevent infection since you could still get Covid even if you are vaccinated. Fourth, the general population is in a heightened state of alert going to extreme measures of trying to control the problem. Fifth, the situation has led to the normal way of life as we know it, affecting our social lives, health protocols, travel, government and the economy. I’m sure there are many other similarities; but you get the idea. However, in my opinion, the pandemic we are facing is much worse than a zombie apocalypse. Why would this be so? At least, in the latter, you could easily identify who a zombie is and be able to do something about it. So unlike in this pandemic when there are often no visible signs and, in asymptomatic cases, even those who have it don’t even know they are infected. This lack of visibility makes data unreliable because it can be manipulated and allows charlatans to mislead many people.

Finex free enterprise George S. Chua I relate this to organizations, both public and private, who are transparent and those who are not. Transparency makes a bad situation like a zombie apocalypse easier to control and deal with, whereas having no transparency like this pandemic makes it so much more difficult to resolve. Transparency works for everyone. People running the organization can see the real situation and be able to act accordingly. It is also more difficult to become a victim of fraud if there is only one set of books. Corruption and other bad practices such as bribes, kickbacks and theft would typically not happen in transparent public or private organizations. The government will get its fair share of taxes and be able to maximize the utilization of its resources, the investing public is protected by getting accurate information, procurement will follow the correct specifications and prices leading to better quality products and services for the general public and businesses becomes more efficient and reliable. Does transparency really benefit everyone? Of course it does! All we need to do is look at the most transparent countries and see the direct correlation with the broad based prosperity of its citizens. What is worse than a zombie apocalypse? Any organization, public or private, that does not have transparency! Former Finex President George Chua is president and CEO of Bayan Automotive Industries Corp. The views and comments of Mr. Chua are his own and not of the newspaper or Finex. Comments may be sent to georgechua@igsat.asia.

BusinessMirror

Editor: Dennis D. Estopace • Wednesday, January 26, 2022

Solons alarmed over increasing attempts to hack bank deposits

By Butch Fernandez

@butchfBM

ENATOR Grace S. Poe raised an alert last Tuesday amid reports indicating an uptick in recent attempts to hack bank deposits through the Internet.

This as Poe, who chairs the Senate Committee on Banks and Financial Institutions, reminded concerned authorities that more people turning to online transactions in the midst of a pandemic “should not drive the uptick in hacking activities and other attempts at digital thievery.” In a statement, the solon conveyed the consensus of senators sitting in the committee they expect banks and concerned financial institutions to ‘fortify their systems to thwart emboldened threats and security breaches.” Poe emphasized that “intensified

collaboration” is “crucial among the government, banks and our people in taking the necessary measures to protect financial consumers from becoming victims of these cybercrimes.” Reminding that “our people’s hard-earned money entrusted in banks must at all times be secure,” the senator is asking the Bangko Sentral ng Pilipinas (BSP) to furnish the Senate Committee on Banks, Financial Institutions and Currencies copies of the results of its investigation including the recent BDO Unibank incident. During the Senate Committee

hearing Last January 17, BSP Director Melchor T. Plabasan assured they intend to render their report to the Monetary Board before the end of January. According to Plabasan, they could not as yet divulge what really happened in the incident, explaining it was “complex and requires a cyberforensic investigation.”

Reimbursements, arrests

PLABASAN also told members of the Committee chaired by Poe that most of the 700 compromised accounts were “restituted” or “already reimbursed.” BDO had outright promised, as soon as the hacking was reported, that bank account holders victimized through no fault of their own–or did not do anything and yet simply lost their monies–will be promptly restituted. The BSP official also recalled that at a hearing last December, they were told there were account holders at BDO “where funds were withdrawn and transferred to the account of a certain ‘Mark Nagoyo’ at Union Bank

[of the Philippines].” According to the National Bureau of Investigation (NBI), their arrest of several individuals last January 21 revealed that “Mark Nagoyo” is not one individual but refers to a “heist group.” Last week, the NBI announced the arrest of five people who, they said, were members of the “Mark Nagoyo Heist Group.” The NBI said also arrested were two Nigerian nationals. At a news briefing, NBI Officerin-Charge Eric B. Distor identified the suspects as Ifesinachi Chukwuemeka Peter Nwadi, Fountain Anaekwe, (alias Daddy Champ), Jherom Anthony Taupa, Ronelyn Panaligan and Clay Revillosa. They were arrested in simultaneous operations in Pampanga last January 18 by operatives of the NBI’s Cybercrime Division (NBI-CCD). Taupa, who is believed to be one of the masterminds of the Nagoyo Heist Group, was arrested in an entrapment conducted on January 18 in Floridablanca, Pampanga. With an additional report by Joel San Juan

Sale of reissued 7-yr DOF cites Typhoon Odette as cause T-bonds brings P35B to collect ₧2.69B via disaster bonds into govt coffers By Bernadette D. Nicolas @BNicolasBM

HE Bureau of the Treasury raised P35 billion in reissued 7-year Treasury Bonds (T-bonds). With six years and six months to maturity, the bond fetched an average rate of 4.689 percent, up by 22.1 basis points from previous auction’s 4.468 percent. National Treasurer Rosalia V. De Leon told reporters the rate is still in line with the secondary benchmark rate. Total tenders reached P55.6 billion, making the auction oversubscribed. The security is set to mature on August 12, 2028. De Leon said they saw a “marked reduction” in bid rates submitted from the last auction that the security was offered. “Highest then was 5.2 percent versus 4.75 percent; average [rate] tracks secondary level,” the National Treasurer’s message to reporters read. After fully awarding the P35-billion offering, the total outstanding volume for the series now stood at P224.9 billion. The Treasury also decided to open the tap facility for an additional P5-billion offering of the security. For this month, the Treasury is set to borrow P200 billion from the local debt market. The Treasury has yet to release the domestic borrowing program for February but De Leon said they are “still processing” and “looking for possible reissuances.” For this year, the national government programmed to borrow P2.47 trillion, down by nearly a fifth from P3.07 trillion. Bernadette D. Nicolas

HE Philippines is set to receive $52.5 million (or about P2.69 billion) next month from the proceeds of its maiden catastrophe bonds (CAT Bonds) that were triggered with the onslaught of Typhoon Odette (international name Rai). The Department of Finance (DOF) said last Tuesday that the Bureau of the Treasury requested an event calculation after the typhoon hit the country in December. Results of the event calculation for the parameters reached the level that triggered the release of the payout to the government. The level triggered was for a Yolanda-type event or a 1-in-19 years severity typhoon hitting the Philippines. Finance Undersecretary Mark Dennis Y.C. Joven, who heads the DOF’s International Finance Group, told the BusinessMirror the Philippine government is scheduled to receive the amount by February. “Basically the World Bank issued bonds bought by investors, and upon the happening of a catastrophe which meets the threshold, bank need not pay back

the investors and money goes to the Philippines,” Joven said.

ing financial protection against natural disasters.

Disaster coverage

Many firsts

IN November 2019, the Philippines through the World Bank issued two tranches of CAT Bonds to raise $225 million to cover for the Philippines’s losses in recent earthquakes and tropical cyclones. The Washington-based lender issued $150 million and $75 million in CAT Bonds covering losses from tropical cyclones and earthquakes from November 2019 to November 2022, respectively. The bonds were issued through the World Bank’s “Capital-at-Risk Notes” facility. Under the arrangement, the Philippines pays the risk premium portion of the total coupon payment to CAT Bond investors. With the payout, the government has an outstanding $97.5-million coverage for typhoons and $75-million coverage for earthquakes until November 2022. A second calculation would be done for the bond once precipitation data becomes available in the coming months. Utilizing a risk layering framework, the government implements a variety of risk retention and risk transfer instruments to maximize its resources in provid-

THE successful bond f loat marked several firsts for the Philippine government and the Asian capital market. Aside from being the first CAT Bond for the Philippines, the issuance is also the first CAT Bond for any Asian sovereign, to be listed in the Singapore Exchange (SGX) to be listed in any Asian exchange and the first WB-issued CAT Bond listed in the SGX. Finance Secretary Carlos G. Dominguez III welcomed the development, saying the country’s successful float of the country’s first ever-insurance linked security (ILS) or CAT bond has “now yielded tangible results that will benefit communities most vulnerable to the devastating effects of climate change.” “This financial instrument is just among the several innovative strategies that the government is undertaking to improve our resilience against natural calamities,” Dominguez said. “We will continue to tap the international financial markets and create innovative structures and projects to achieve our goal of being a world leader in the fight against the climate crisis.”

BSP urges vigilance vs counterfeit banknotes

HE Bangko Sentral ng Pilipinas (BSP) issued last Tuesday a public advisory that urges consumers to regularly inspect banknotes for authenticity to protect against counterfeiting. In its statement, the BSP said the public must use the “feel, look, tilt” approach in determining the bill’s integrity. The BSP also said should a banknote dispensed by an automated teller machine (ATM) be suspected as a counterfeit, the holder is advised to immediately report it to the bank that owns the machine. The bank is then required to conduct an investigation to verify whether the banknote was indeed dispensed by the bank’s ATM. If the holder’s claim is verified, the bank should replace the banknote in question. The BSP also said it assures the public that banks employ adequate risk management measures to deter

such incidents. “Aside from the installation of cameras at ATM areas, cash handlers and service providers tasked to refill ATMs are trained to detect counterfeit banknotes or verify their genuineness before placing them in ATMs,” the BSP said. Under BSP Circular 829 (Series of 2014) banks are required to submit suspicious banknotes to the BSP for further examination. Bianca Cuaresma

Show BusinessMirror

Wednesday, January 26, 2022 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

‘Spider-Man’ comes back swinging, takes No. 1 from ‘Scream’

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Colin O’Donoghue, 41; Sara Rue, 43; Ellen DeGeneres, 64; Lucinda Williams, 69. HAPPY BIRTHDAY: Stay poised and ready to take on whatever comes your way. Don’t let the changes others make sway you in a direction that doesn’t help you excel. Spend less, sell off what you don’t need and minimize stressful situations that stand between you and the life you want to live. Map out a plan, and inch your way to the finish line. Your lucky numbers are 6, 14, 25, 29, 31, 38, 46.

ARIES (March 21-April 19): Stick to what and who you know and trust. Refuse to let your emotions take over when dealing with a friend or lover. Play fair and expect the same from others. Balance, integrity and equality are necessary for any partnership. HHH

MACHO MAN

THE political figure is known for being a macho man. His public actions have only confirmed this but to this day, there are persistent rumors that he’s gay even if he’s married and has kids. One of the most persistent rumors about the public figure’s sexuality is that he was once in a relationship with a now semi-retired hunk actor. The political figure reportedly gave the actor a house, which the latter allegedly sold eventually when he was faced with financial difficulties. After the political figure and the actor parted ways, the former never got involved with a celebrity again. Through all this, the political figure’s wife stayed with him. His wife has always kept a low profile but she is loyal to him.

NEITHER FRIENDS NOR ENEMIES

TAURUS (April 20-May 20): If you swivel from one thing to another, you’ll lose sight of your goal. Stick to your original plan, then move forward. A steady pace will lead to bigger and better opportunities. Enjoy your success with someone you love. HHH

c Neve Campbell (left) and Courteney Cox in a scene from Scream.

MANY people don’t know that an actor, who is also rumored to be gay, once got a now-married actress pregnant. The said actress reportedly had the baby aborted. Surprisingly, the actor and the actress weren’t even a couple then as the former was in a relationship with another actress. The actor’s girlfriend ended things with him when she found out that he got the other actress pregnant. After they broke up, the actor and the other actress continued seeing each other without any commitments until the girl met a guy she fell in love with. The actor and both actresses are not friends, but they’re not bitter exes either. Both ladies are now happily married while the actor is still single.

BROKE

WHEN the actress left the house she shared with her husband, everyone thought she got a new place but the truth is she just moved to her father’s house. The actress personally doesn’t have much money because she was the one spending for the family when she and her husband were still together. She was also the one who financed the construction of the marital abode, which they shared with the husband’s family. For a while, even the husband’s family depended on the actress for their financial needs, so it is understandable why she’s broke right now.

IS SHE A BULLY?

ONE of the stars reportedly bullied by a young actress is a former child star. The young actress, who was embroiled in a recent controversy, was said to be insecure because the former child star is beautiful, talented and taller than her. So she and her mother did some maneuvering to make the former child star’s life hell in order for the latter to move to another network. Another victim of the young actress is a lovely and talented young actress-singer whose career is now flourishing. The actress-singer also had to leave the network because things became intolerable for her. She even reportedly had a nervous breakdown because of the young actress.

GEMINI (May 21-June 20): Leave nothing to chance. Do your part to live up to your promises. Refuse to let anyone interfere with your progress or tempt you to do something you know you shouldn’t. Avoid superfluous offers and individuals who promote indulgence. HHH

FTER spending one weekend in second place, Spider-Man: No Way Home proved it still had some fight left. Sony’s superhero juggernaut swung back to first place in its sixth weekend in theaters and became the sixth highest grossing film of all time, globally. The film topped the North American charts with $14.1 million, according to studio estimates on Sunday. Globally, it’s now grossed nearly $1.7 billion, passing the total earnings of both Jurassic World and The Lion King.” And in North America, its $721 million make it the fourth biggest release ever. Peter Parker also stole first place back from Scream, which fell about 59 percent—a typical drop for a horror—in its second weekend with an estimated $12.4 million in ticket sales. The Paramount release has grossed $51.3 million so far.

Universal and Illumination’s Sing 2 landed in third place in its fifth weekend, with $5.7 million. The animated title has earned $241.2 million worldwide. There was little competition for the holdovers to contend with this weekend. The only two fresh offerings nationwide in theaters were comparatively lower-profile releases: The King’s Daughter, a fairy tale with Pierce Brosnan that was filmed in 2014 and held until now (it bombed with $750,000 from over 2,000 locations), and Redeeming Love, a faith-based historical romance with Nina Dobrev that cracked the top five with $3.7 million. “This is a very slow weekend,” said Paul Dergarabedian, the senior media analyst for Comscore. “January is typically not a big month for box office. It may be a while before we have another big breakout hit, but once we do the floodgates may open.” Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. 1. Spider-Man: No Way Home, $14.1 million. 2. Scream, $12.4 million. 3. Sing 2, $5.7 million. 4. Redeeming Love, $3.7 million. 5. The King’s Man, $1.8 million. 6. The 355, $1.6 million. 7. American Underdog, $1.2 million. 8. The King’s Daughter, $750,000. 9. West Side Story, $689,000. 10. Licorice Pizza, $683,357.

NEW SERIES FROM ‘DOWNTON ABBEY’ CREATOR NOW ON HBO GO, HBO FROM creator Julian Fellowes (Downton Abbey), HBO’s The Gilded Age premeired on January 25 exclusively on HBO GO and HBO, with a same day encore at 10 pm on HBO. Written by Julian Fellowes and Sonja Warfield and directed by Michael Engler and Salli Richardson-Whitfield, the nine-episode drama series stars an ensemble cast of Carrie Coon, Morgan Spector, Denée Benton, Louisa Jacobson, Taissa Farmiga, Blake Ritson, Simon Jones, Harry Richardson, Thomas Cocquerel, Jack Gilpin, with Cynthia Nixon and Christine Baranski. The American Gilded Age was a period of immense economic change, of great conflict between the old ways and brand-new systems, and of huge fortunes made and lost. Against the backdrop of this transformation, HBO’s The Gilded Age begins in 1882 with young Marian Brook (Jacobson) moving from rural Pennsylvania to New York City after the death of her father to live with her thoroughly old money aunts Agnes van Rhijn (Baranski) and Ada Brook (Nixon). Accompanied by Peggy Scott (Benton), an aspiring writer seeking a fresh start, Marian inadvertently becomes enmeshed in a social war between one of her

aunts, a scion of the old money set, and her stupendously rich neighbours, a ruthless railroad tycoon and his ambitious wife, George (Spector) and Bertha Russell (Coon). Exposed to a world on the brink of the modern age, will Marian follow the established rules of society, or forge her own path? Created, written and executive produced by Julian Fellowes, the series is also executive produced by Gareth Neame and David Crockett. Michael Engler and Salli Richardson-Whitfield are directors and executive producers while Sonja Warfield is a writer and co-executive producer. The Gilded Age is a co-production between HBO and Universal Television, a division of Universal Studio Group. Stream The Gilded Age on HBO GO (www.hbogoasia.ph) or the mobile app via the App Store or Play Store for as low as P99.70/month. Alternatively, viewers can access HBO GO via Cignal, Globe and Skycable. HBO GO is also available on Android TV, Apple TV, LG TV and Samsung Smart TV, and comes with AirPlay and Google Cast functionality.

CANCER (June 21-July 22): Explore what’s available and how you can use your skills to surpass your expectations. Dig in and put your energy where it will turn a profit for you. Connect with like-minded people, and an exciting partnership will develop. HHHHH

LEO (July 23-Aug. 22): Stop and rethink your next move. Emotions will escalate if someone makes changes that don’t fit your intentions or plans. Be persistent, and head down the path that makes you feel comfortable. Take control instead of giving it away. HH

VIRGO (Aug. 23-Sept. 22): Get into the groove, and keep up with what’s current. Staying fit, socializing, networking and participating in something uplifting will lead to new connections and a healthy routine. Love and romance will lift your spirits. HHHH

LIBRA (Sept. 23-Oct. 22): Revisit the past, and you’ll figure out the best way to handle someone or something that is causing you grief. Show restraint when someone asks for too much. Look out for your interests, and protect your assets, possessions and passwords. HHH

SCORPIO (Oct. 23-Nov. 21): Keep an open mind, but don’t be gullible. Helping others is honorable, but make sure you don’t get left doing all the work yourself. Leave plenty of time to take care of your needs. Your comfort and happiness are your responsibility. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Put your energy where it will do some good. Finish what you start before you head out with friends. Take your responsibilities seriously, and you’ll avoid criticism and complaints. Someone will try to take advantage of you if you are too accommodating. HHH

CAPRICORN (Dec. 22-Jan. 19): Stand up for your beliefs, and put your reputation on the line. Confidence and living up to your promises will make a difference in the way others respond to you. Share your thoughts with someone you love, and progress will follow. HHHHs

AQUARIUS (Jan. 20-Feb. 18): Be secretive regarding your plans. Check out what it will take for you to head in a meaningful direction. Feeling good about what you do will lift your spirits and encourage you to work hard to reach your objective. HH

PISCES (Feb. 19-March 20): Find a unique way to invest your time, money or skills, and it will help you gain respect, recognition and support. Put more energy into initiating the changes that will make your life better. An appealing offer is within reach. HHHHH BIRTHDAY BABY: You are serious, dedicated and responsible. You are intuitive and helpful.

‘universal freestyle 4’ BY HANNAH SLOVUT The Universal Crossword/Edited by David Steinberg

ACROSS 1 Common clickbait article format 5 Sheep sound 8 Praline ingredient 13 On the matter of 14 Programmer’s output 16 Ooze 17 Natural colors 18 Drink that sounds like its first letter 19 Enjoys some 18-Across 20 Suitable 21 Cocktail made with lime juice and gin 23 Slanted, in Sussex 25 If all goes well 26 Apple drink 28 Minor roadblock 29 Con artist, e.g. 31 Common bridal attire 34 ___ sticker (certain dumpling) 35 “Lights out!” 37 Writing tip? 39 Cry on a slide 41 Word that sounds like its first

and last vowels 42 “Noble Blood” host Schwartz 43 Puerto ___ 45 Cultivated crops 47 Sign for most of September 49 “Strange ...” 50 Bud 51 Provide care to 55 Scratch up 56 Extra pieces 58 Trait carrier 59 One of 100 in the United States 60 Ancient Peruvian 61 Part of LGBTQ+ 62 “That’s amusing” 63 A rose’s is thorny DOWN 1 Desperate final attempt 2 “Took me a minute to find that” 3 Spa offering with ancient Roman origins 4 Burned layer of creme brulee 5 Feathery scarves 6 Ambience 7 Crafts’ partner 8 Personal annoyance

9 10 11 12 14 15 19 22 24 26 27 30 32 33 35 36 38 40 42 44 46

Prefix with “friendly” or “tourism” “___ O’Brien Needs a Friend” (weekly podcast) Skilled What a crane constructs Home of the Space Needle Kid “___ So Shy” (hit for The Pointer Sisters) Segment of a trip “Where ___ we?” Game with a hexagonal board Pupil controller Concept Soon Sequence of synchronized steps Deep-fried pastries popular in New Orleans Impatient kid’s request Nightmare Take a wrong turn, say Many AMA members Two-door car Consumed

47 48 50 52 53 54 57 58

E-cig user Glazer of “Broad City” (Over here!) Not well thought out Oak or elm Zion National Park’s home Sprinted USO show attendees

Solution to today’s puzzle:

www.businessmirror.com.ph

Image BusinessMirror

Editor: Gerard S. Ramos

• Wednesday, January 26, 2022

Helping your team learn PHOTO BY JASON GOODMAN ON UNSPLASH

ART of your work as a people manager is to ensure that tools and processes are updated so your team can do their work, and at the same time adapt to changes so they can succeed. And a big aspect of that is helping them learn as fast as they can. Part of helping them learn is understanding their learning gaps so that your mentoring can be effective. Knowing what is stopping them from using new tools or implementing new processes can greatly help in bridging the gap between a hesitant employee and an engaged team player. The most common learning gap is knowledge— they simply do not know. In terms of learning gaps, this is somehow the easiest because they are not familiar with the new tools or the new work processes, so they just have to sit down and study. The tricky part here is identifying what your team needs to learn for them to adapt quickly to the changes. There are several root cause analysis tools you can use to identify it. You also need to identify foundational knowledge so you can build on it over time. For example, if someone in your team needs to increase or expand their knowledge on using a spreadsheet program, you might want to start with how to sort and filter data before you teach them how to pivot or create Pareto diagrams. Once you know the gradations of difficulty, you can then identify which format can be best used for teaching your team. Some learn best using a numbered how-to guide, others through infographics, while others through a step-by-step video. Knowing what works best for your team can help them learn things fast. But knowledge can only go so far as to let somebody know what to do. They still need to perform. And here is where people managers commonly become confused—they mistake skills for knowledge and think that by simply telling people what to do, they will do it right the first time. If it takes practice to use a new tool or learn a new process, then it is a skills gap. Of course, there are tasks which can be done correctly simply by giving the right information—filling in a form or transferring files. But managing an event, dealing with an irate client, or creating compelling presentations takes time and practice for them to be proficient. Understanding the difference between knowledge and skills gap can help you fine tune your learning intervention so it can be targeted and help your team learn faster. It also becomes easier for you to identify parts of your workflow where they can practice and what methodology is best for them—be it shadowing an expert, hands-on train-

ing, or a step-by-step demonstration. This helps you focus your efforts at helping them assimilate new information faster. In addition, you can build up your arsenal of teaching tools that work best for each of your team members. And there are cases when there is a communication gap—people managers do not know how to communicate the team’s new goals to their members. New tools and processes could be a management directive and organizations rely on their people managers for the cascade of changes down to the rank and file. They rely on people managers to communicate these changes so that teams can see how their function aligns with the rest of the organization and how they contribute to its goals. When a people manager does not adequately communicate the reasons behind the use of new tools or processes, the team suffers. For your team to learn quickly, you need to communicate clearly and consistently. There are also instances when the learning gap is a motivational one. They refuse to learn because they do not agree or understand the team’s goals, they are unwilling to change, or they are just not interested with where the group is headed. This is where you, as the people manager, play a significant role in identifying your team’s motivations and align their goals with the team’s goals.

If the change significantly affects your team’s work processes, you need to provide support for your team to unlearn old processes and reinforce new processes through repetition. Expect your team to commit mistakes the first few weeks but tighten the reins so the new processes become hardwired into their system. To understand if it is a motivational gap, observe how they are with the new tool or process. Let them use the new tool or implement the new process so you can see where they struggle so you can adjust as needed. Ask them about the benefits of using the new tools or process so they are forced to think how the work is made easier because of the changes. This will help them appreciate the changes and, in turn, give them the encouragement to learn it faster. When this fails, you need to ask them directly about their hesitation in adapting to the changes. Other people’s learning gaps are environmental in nature. People do not learn fast because the tool itself is lacking, or the reference materials for the new processes are. For example, you talked to your team about a new program for sharing files and communication, but some members cannot access the program, or they do not have any manual for commonly used functions. Your team will have a hard time learning the new program because of these roadblocks. Make

The mental health risks of retiring By Liz Weston NerdWallet

THE late Pamela Hixon of Leipsic, Ohio, was eager to retire from her job running a hospice agency. Soon after she quit, however, Hixon spiraled into depression and anxiety. She sought help from counselors and her pastor, but it wasn’t enough. Six months after retiring, she took her own life. “She lost purpose, she lost significance, she lost a sense of meaning in her life,” says her son Tony Hixon , a Findlay, Ohio-based wealth manager who wrote about the experience and how it transformed his financial planning practice in a book, Retirement Stepping Stones: Find Meaning, Live with Purpose, and Leave a Legacy. Overall, retirees are a contented bunch and many report being happier in retirement than they were at the end of their careers. Older adults are less likely than younger people to experience major depression, says Brent Forester, president of the American Association for Geriatric Psychiatry. Nonetheless, retirement often involves significant losses—of identity, purpose, structure and social contacts—that can trigger depression and other psychiatric illnesses, says Forester, who also heads the geriatric psychiatry division at McLean Hospital in Belmont, Massachusetts. “Getting depressed is not a normal part of aging,” Forester says. “But one of the risk factors [for depression] is loss, and the loss of one’s professional identity, the loss of one’s job, is a big one.”

RETIRING CAN POSE CHALLENGES

OFTEN, people are too busy working and raising families to develop interests that might offer structure and purpose in retirement, Forester says. Their social networks can disappear if they primarily

made friends through work, or they move to a new community after retirement. Substance abuse can cause problems for retirees as well, Forester says. Some people may use their unstructured time to drink more or use drugs more often, and aging brains are much more sensitive to the adverse effects of these substances, he adds. People also have time to think about bigger questions of purpose and meaning, Hixon says. “The age-old question of ‘Why am I here?’ can get crowded out by being busy,” Hixon says. “Upon retirement, you do have time, and that question can sometimes plague a person.”

HOW TO EASE THE TRANSITION

PEOPLE may be so desperate to get away from workplace stressors—a bad boss, a too-heavy workload, a rigid schedule—that they don’t fully consider the benefits they get from working. Or they may be accustomed to viewing retirement as the finish line and don’t think deeply about what their day-to-day lives might look like without work. “Retirement is a transition, not a destination,” says psychologist and retirement coach Dorian Mintzer of Boston. “It’s very helpful to think about ‘what are you retiring to?’” Consider how you’ll spend your days and what might offer “a sense of connection, engagement, purpose and meaning,” says Mintzer, co-author of The Couple’s Retirement Puzzle: 10 Must-Have Conversations for Creating an Amazing New Life Together. That might include hobbies, volunteering or time with family, for example. Figure out what gives you joy as well as what new things you’d like to do or learn next. “What are some of the things you had to put on the back burner when you were younger?” Mintzer asks. Part-time work is another option, she says.

Reducing the hours you work can help alleviate burnout while allowing you more free time. Talking with a therapist, coach or sympathetic friend may ease the transition as well. “Get support from people. Don’t be afraid to ask for help,” Mintzer says.

WHEN AND WHERE TO FIND HELP

OF course, many people are pushed into retirement earlier than they planned because of job loss, poor health or unexpected events such as the current pandemic. People who retire involuntarily are often less satisfied with their lives and suffer from worse mental health than those who retire voluntarily. People experiencing financial strains—a common result of unexpected retirement—may be more vulnerable to depression and other mental health problems. Complicating matters further, the symptoms of depression and other mental health issues may be different in older adults, Forester says. Rather than feeling sadness, for example, depressed older people may feel numb or anxious, have difficulty with memory or decisions, or suffer from otherwise unexplained physical complaints. If you’re concerned about your mental health, consider talking to your doctor. Depression and other mental health problems are medical conditions that typically can be treated with medication and therapy. If you’re concerned about a loved one, encourage them to seek medical treatment and to follow their treatment plan. You may need to help them make the initial appointments or accompany them to treatment, since lack of motivation and energy are common symptoms of depression. And if you’re considering retirement, make sure you have a life plan as well as a financial plan. “Just the act of planning can help you feel more in control and less anxious,” Mintzer says.

sure that when you implement a new tool or process, your team has access to the tool itself and the materials to learn more about it. I have learned from several mentors that the role of a people manager is to ensure their team is given the right equipment and processes, and to clear the roadblocks that stand in the way of their success. Helping your team learn and adapt to new tools and processes goes a long way in ensuring your team thrives and flourishes.

SHARE YOUR EXTRAS NOW is the best time to clear the clutter, clean your closets, and share your extras with the less fortunate in The SM Store’s Share Your Extras campaign. A joint project of The SM Store in partnership with SM Foundation and local Department of Social Welfare and Development (DSWD), shoppers can donate their slightly used or brand-new clothes (tops and bottoms) for infants to adults. All the items collected will be for the benefit of those affected by the recent Typhoon Odette. Shoppers can drop off their donations or purchase new ones from The SM Store until February 15 in all branches in Metro Manila, and from February 1 to 28 in the rest of the stores nationwide. Each donation will entitle shoppers to a P100 discount coupon voucher courtesy of The SM Store. The discount coupon can be redeemed at any The SM Store branch, on or before February 28, 2023 with a minimum P1000 single-receipt purchase of any denim item from SM Woman, GTW Urban, Just Jeans, Code Blue, and SMYTH. Share Your Extras is part of the annual donation drive of The SM Store and SM Foundation. Previous beneficiaries included communities in need such as in Marawi, Isabela, and many other communities across the country. As mentioned earlier, this year’s campaign will benefit families affected by Typhoon Odette, which has displaced thousands of families in Mimaropa, Visayas and Mindanao. Share Your Extras is one of the ways The SM Store reaches out to the communities. Other store-based projects include Donate-A-Book, Share-A-Toy, Share Shoes, Share-A-Gift, and Gamot Para sa Kapwa.

B6 Wednesday, January 26, 2022

Dare to be ‘Lucky 2 Love’ at Power Mac Center

Mondelēz supports Odette PH relief, boosts sustainability of affected areas

NACKING company Mondelēz International has partnered with the Philippine Business for Social Progress (PBSP) locally to contribute to alleviating the devastation caused by Typhoon Odette (Rai) last December 2021. This partnership aims to help support the ongoing and immediate relief operations and strengthen the sustainability of areas affected by the Category 5 super typhoon. Strong typhoons are not uncommon in the Philippines as a tropical country. However, the effects of weather disturbances have been worsening of late. Typhoon Odette’s strong winds brought much destruction to many regions in the country. Homes were damaged, livelihoods were lost, and day-to-day survival became difficult. To contribute solutions to this enormous problem, Mondelēz International locally heeded the call of partner PBSP to provide meaningful and impactful support to five areas that were most devastated. These are Ilog in Negros Occidental; Cebu City; Bubong in Lanao del Sur; Del Carmen in Siargao, and Roxas in Palawan. To help provide for the immediate needs of the residents in these areas, PBSP has mobilized to date P28.02 million pesos for SPHERE-standard family packs and shelter repair kits from various donors including Mondelēz International. Each family pack contains 10 kilos of rice, 5 cans

REMIER Apple partner Power Mac Center (PMC) is welcoming the month of love and luck early with a roaring double celebration. Apple fans looking to celebrate Chinese New Year and Valentine’s Day with a new device buy or a special tech gift for their loved ones can enjoy great deals and discounts on select Apple devices and accessories, training courses, and even service and repair fees. “It has become a tradition for us to celebrate Chinese New Year and Valentine’s Day with special deals for our beloved customers. This 2022, we’re attracting love and luck in the Year of the Tiger to spread some cheer and hope for a better year as we fulfill our mission of delivering the best Apple experience to Filipino consumers,” said Joey Alvarez, Power Mac Center Director of Product Management, Marketing, and Space Planning.

Deals that double the fun

of sardines, 5 cans of canned meat, 1 pack of biscuits, 50g coffee, 1/2 kg of brown sugar, 1/4 kg of iodized salt, 1 bar of soap, and 6 liters of bottled water. Part of the assistance will also be the provision of a family mat, 3 blankets, and jerry can or water container. These are essentials aligned with the SPHERE project, a standard in humanitarian response, and which can feed a family of six for five days. “We’re committed to growing our business by making our snacks in the right way, with positive impact for people and the planet,” shares Atty. Joseph Fabul, Country Manager for Corporate and Government Affairs of Mondelēz

International in the Philippines. “While immediate support is needed in the areas where Typhoon Odette caused destruction, the second half of our partnership with PBSP will be focused on supporting the sustainability of lives in these areas. Typhoons are a way of life in the country, and we would like to help support the preparedness of communities to face them in the future. We look forward to working with PBSP on implementing this program, which will be rooted in community understanding and sustainability planning.” To find out how you too can support programs for Typhoon Odette affected areas, visit the PBSP website.

FROM January 24 to February 17, 2022, all Power Mac Center and The Loop stores nationwide, official online stores (Web Store, Viber Store, Shopee, and Lazada), Apple Authorized Global Training Provider PMC Business Systems Inc. (PBSI), and Mobile Care Service Centers will be participating in the promos. Be the first to experience the Power of Two wherein you can get the new iPhone 13 and the 13-inch MacBook Pro (M1) at P2,022 off. While you’re at it, embrace the luck of Everything Red as select red accessories are discounted up to 22 percent off SRP. Score deals that are definitely Better Two-gether as PMC is also slashing prices up to 22 percent off on participating accessories when purchased with any Apple device via non-installment payment methods. Over at the official online stores, customers can purchase select Apple devices and get an additional 22 percent discount on select accessories on Shopee and Lazada. Get

A year of your time, a business for life

SURF has partnered with FHMoms, the biggest mom-trepreneur digital

community to introduce the first ever Surf Wais University, a free entrepreneurial program for aspiring mom-trepreneurs. Surf Wais U is designed to teach you everything you need to know to establish your own busines venture. Webinars will be set every month for the rest of the year, covering multiple mom-treprenurial topics, requiring only an internet-ready device and your motivation to succeed. Surf Marketing Manager, Raiza Revila, explains, “Following decades of providing sulit and quality laundry solutions for Filipino moms, we recognize the diskarte of our wais nanays. And through the pandemic and the hardships every mother had to go through, we thought it’s time to give them a better foothold to provide for their families. Through Wais U, we can teach them how to establish their own business and make it flourish through modern practices, techniques, and processes.”

Wais U welcomes all aspiring mom-trepreneurs

EVERY kind of mom is free to join! Be it a

stay-at-home mom who wants to earn extra income, a full-time employee who wants to be her own boss, a returning OFW with ready-to-invest capital, or even a traditional business owner who wants to learn more about growing the business. Enrolling in the program will help you identify the differences between traditional and digital businesses, so you can find the entrepreneurial model that best fits what you want to do or sell. Courses also cover how to manage your finances and government requirements and touch on sales practices and marketing techniques that can effectively expand your businesses in digital platforms.

The Rise of Filipina Homebased Moms

SURF’S Wais U is designed in partnership with the top momtrepreneur Digital community, Filipina Homebased Moms (FHMoms). At the helm of the program is MK Bertulfo, a working mom herself, who established the Filipina Homebased Moms community on Facebook which is now more than 365,000 strong. The community has been helping moms by providing opportunities online suitable to their individual lifestyles. Following her advocacy to help fellow moms to earn enough for their families, Mommy MK will be using her knowledge and experience to teach enrollees the best ways and practices to establish their own businesses, one mom at a time. “Being a mom myself, I wanted to make sure other moms can have more opportunities to provide for their families,” Bertulfo shares. “That is why I’m very excited for this partnership between Surf and FHMoms, because I know more women will be able to pull themselves up and lead a better life for their loved ones.” Sign up at https://waisuniversity. com/ and start your Wais U journey today! Registration is ongoing! Batch 1 starts February 18.

vouchers with up to P80 off for a minimum purchase amount of P2,200.00 on Shopee, Lazada, and the SM Malls app, plus enjoy free shipping nationwide. Meanwhile, if you’ve been eyeing training courses such as App Development with Swift, macOS Support Essentials, and Technical Troubleshooting by PBSI, you’re in luck ‘cause It’s a Date! Enroll anytime from January 24 to February 17, 2022, and bring a plus one for FREE. The premier Apple partner is also inviting its 1 Infinite Access members to shop for a chance to win in the Infinite Fortune exclusive raffle. Just spend a minimum of P10,000.00 at Power Mac Center and The Loop stores, or at powermaccenter.com from January 24 to February 17 to earn raffle entries for a chance to win 1,000 points (1 point = P1). Members must present their 1 Infinite Access account for in-store transactions and login for Web Store transactions to make their raffle entries valid. If you’re not a member yet, sign up for free now at <https://bit.ly/32j7GaW>. For the full promo mechanics and other details, visit <about.powermaccenter.com/ lucky-2-love>.

Quest Plus Clark wins at ASEAN Tourism Award

Surf launches ‘Wais’ University, offers online business program for aspiring mom-trepreneurs

HEN it comes to taking care of the family, Moms (and dads, too!) will always find a way to make sure she’s on top of everything, no matter what circumstance. And their secret? Moms tap into their diskarte when exploring ways to support their families, like starting a business that they can sustain in the long run. We see this with Filipino families finding new ways to earn despite the lockdowns, with a whopping 4,000 percent increase in registered online businesses in 2020. Surf, the country’s leading laundry brand, recognizes the mothers’ diskarte and now aims to enable these moms and their businesses through comprehensive and interactive entrepreneurial courses. These courses will teach moms how to start their own negosyo and be their own boss – especially through online means.

IT’S a double celebration of Chinese New Year and Valentine’s Day with your favorite Apple products and services

LARK received the prestigious ASEAN MICE Venue Award for its iconic Magellan Grand Ballroom last January 19 at the 2022 ASEAN Tourism Awards held in Preah Sihanoukville, Cambodia. This recognition is awarded to tourism establishments that have met the internationally recognized ASEAN MICE Venue Standards for meetings and exhibition venues. Quest Plus has 304 rooms and villas, located in the heart of Filinvest Mimosa+ Leisure City inside Clark Freeport Zone. With

its Culture of Clean in place and signature Filipino hospitality, the hotel is a favorite destination for both leisure and business travelers. In its five years of operation, Quest Plus Clark has hosted major international events such as the 2017 ASEAN Summit, the 2019 Southeast Asian Games, and the first sports bubble in the country for the 2020 PBA Philippine Cup. Other Philippine hotels and cities have also been awarded during the event for their commitment to upholding the highest standards in tourism. “This recognition of our local cities, and hotels and MICE (Meetings, Incentives, Convention, and Exhibition) venues not only serves as a testament to the Philippines’s commitment to uphold the best tourism standards, it also mirrors the strong Bayanihan spirit we have exhibited to overcome this crisis,” shared Tourism Secretary Bernadette Romulo Puyat in a statement. For more information, visit www. questhotelsandresorts.com/clark or email clarkrsvno1@questhotelsandresorts.com.

MR.D.I.Y. donates school supplies, brings smiles to children of Bontoc, Mountain Province

HERE’S nothing purer than seeing the sweet and joyous smiles on children’s faces. MR.D.I.Y., through the initiatives of kind-hearted organizers and volunteers of Pencil for a SMILE Project, have brought these smiles to the 231 students and their families from various schools of Bontoc, Mountain Province last December. The hardworking organizers and selfless volunteers of Pencil for a SMILE Project under Pagna't iMontanosa group headed by Analiza Pelwa, Maialein Balisong, and Federico Murphy Jr traveled the mountainous trails for 2 days to visit 3 primary schools namely Guinaang Elementary School, Chapyusen

Multigrade School, and Can-eo Elementary School to give school supplies to the students. Meanwhile, MR.D.I.Y. extended the holiday spirits by sharing household gift packs and rechargeable lights with the parents of these students. Collaborating with an NGO or private groups is part of MR.D.I.Y.’s corporate social responsibility (CSR) initiatives to give something back to the different communities especially the hard-to-reach places. To know more about MR.D.I.Y.’s CSR programs, please visit MR.D.I.Y.’s official Facebook page @mrdiyPH and corporate website at www.mrdiy.com/ph.

BusinessMirror

Editor: Tet Andolong

Wednesday, January 26, 2022 B7

Airport PROJECTS, revenge travel to help gradual rebound of tourism in 2022

By Rizal Raoul S. Reyes

espite the colossal and negative impact of the pandemic, the country’s tourism industry is expected to fly higher with the completion of seven new airport projects in 2022, according to the latest report of Leechiu Property Consultants (LPC).This enabled the country to expand its annual passenger capacity to 16.7 million, LPC added. The seven airports are Clark International Airport, Kalibo International Airport, Catarman Airport, General Santos International Airport, Zamboanga International Airport, Bicol International Airport and Camiguin Airport. Moreover, Phase 1 of the rehabilitation of the Ninoy Aquino International Airport is expected to be finished this year. The country will achieve a potential increase of 386.4 million in annual passenger capacity once all nationwide airport projects in the pipeline are completed. “Various International airports will open up and ease travel of tourists to more destinations,” LPC said. Properties in the countryside also experienced growth as provincial and tourism sites also posted a robust increase in property prices. For instance, LPC noted a 67-percent rise in land values in Peninsula de Punta Fuego when current land values rose in the range of P20,000 to P100,000 from P12,000 to P60,000 per sq m in 2020. In Kawayan Cove, LPC reported a 112-percent rise in property values to P27,000-P75,000 from P18,000-P30,000 per sq m in 2020. Meanwhile, Ayala Land Premier’s Anvaya Coves continues to live to its billing as a major resort result as property values posted an 85-percent increase as land values rose to P13,000-P40,000

to P24,000-P40,000 per sq m in 2021. Tagaytay Highlands posted a 12-percent increase as land values expanded to P13,000-P48,000 from P14,000-P43,000 per sq m in 2020. “Land values in the tourism sector have steadily increased due to the reopening of the economy and the easing of travel restrictions,” LPC said. Despite the pandemic, Batangas seaside villages’ land values expanded as interests for second homes near Metro Manila rose. Growth drivers include high speed Internet fiber connectivity and work from home arrangements. Prices are expected to appreciate further with the completion of infrastructure projects such as the Cavite-Laguna Expressway will cut travel time from these provincial addresses to the Metro. Meanwhile, Colliers Philippines believes that recovery in the leisure sector will likely rebound anchored by domestic tourism, with the Department of Tourism (DOT) expecting domestic trips to reach 84.8 million in 2022 or 90-percent of the total number of domestic trips in 2019. Further, Colliers Philippines believes that the DOT will likely continue its domestic tourism push by promoting reopened local destinations in the country. It is also bullish that revenge travel among local travelers should help increase hotel occupancies of se-

Amid an economic downturn, HPI posted substantial gains as evidenced by homebuyers’ rapid uptake of its properties at the height of the 2020-2021 pandemic and despite the 2020 Taal Volcano explosion.

As the world slowly recovers from the pandemic and enters a brand new hopeful year, Tagaytay Highlands is confident that there will be continued strong interest in its premium themed residential communities.

lected hotels across the country. Meanwhile, the DOT projects foreign arrivals reaching between 2 million and 5 million by 2022.

Tagaytay Highlands’ resiliency Highlands Prime Inc. (HPI), a subsidiary of SM Prime Holdings, the developer of Tagaytay Highlands is currently the dominant player in the Metro Tagaytay market with the most active inventory at a time of high market interest. Despite an economic downturn caused by the 2020-2021 pandemic and the 2020 Taal Volcano explosion, HPI posted substantial gains as evidenced by homebuyers’ rapid

uptake of its properties. “This only goes to show the high level of confidence the market continues to have on HPI’s products, which is a testament not only to the improved customer satisfaction we enjoy from the buying public but also to the heightened degree of resiliency the Tagaytay Highlands team has demonstrated in handling these twin crises,” HPI Senior Vice President Lennie Mendoza told the BusinessMirror. HPI also recently achieved a milestone when Department of Human Settlements and Urban Development (DHSUD) cited as one of Calabarzon 2021 Outstanding De-

velopers for Open Market Projects. The award, “Gawad Husay sa Pagpapaunlad ng Real Estate,” was presented by DHSUD Region 4ACalabarzon executives to Mendoza during the DHSUD 2021 Gawad Parangal held recently in Calamba City. DHSUD has cited HPI for its remarkable accomplishments in developing well-planned, climateresilient, vibrant, inclusive, and sustainable communities in Calabarzon. The recognition also expressed appreciation for HPI for supporting various projects of DHSUD through its SIKAT and BALAI programs amid the Covid-19

pandemic. HPI was awarded because it has proven reliable and dependable developer who has committed and delivered quality products through the years. It also remains consistent in its compliance with DHSUD’s existing laws, rules and regulations. Moreover, Tagaytay Highlands has also been awarded the Safety Seal of the City Government of Tagaytay for its steadfast commitment to continuously provide safe and secure facilities for its members, residents and their guests. Inspired by these recognitions, Mendoza said Tagaytay Highlands remains optimistic that the same positive scenario going in 2022. Further, HPI has started laying the groundwork for an unprecedented lineup of top-level, high margin products to set the Highlands experience up for another game changing scenario. In 2022, Mendoza said Tagaytay Highlands will go green in consistent with the developer’s support for the United Nations Sustainable Development Goals. She said Tagaytay Highlands will put premium on social and environmental considerations on its products and services to protect and nurture its communities as well as its future developments. Mendoza said Tagaytay Highlands’ facilities and personnel adhere to the strictest adherence to sanitation procedures and safety protocols including disinfection, hand sanitation, wearing of face mask, and physical distancing. As the country hopes to achieve a gradual recovery starting in 2022, Mendoza said Tagaytay Highlands is confident that there will be continued strong interest in its premium themed residential communities. She added Tagaytay Highlands will remain focused to its vision to be the exclusive property of choice continues as demand rises for alternative primary homes with the health, well-being, and safety of future residents naturally.

Sta. Lucia delivers the ideal ‘now normal’ lifestyle

f there’s anything this ongoing pandemic has taught us, it would be the value of a safe space. Besides providing areas for us to sleep, our homes have now become an office, a study area, a gym, and a leisure hub at the same time. Thus, it pays to have a home that would enable you to live and function efficiently in the now normal without having to compromise you or your family’s safety. “The pandemic definitely changed the way we live. If before, we do everything outside our home, now it’s the other way around. Space has never been more important than it is now and as a responsible developer, we made sure our developments are highly suitable to this so-called postpandemic world. We build not just to meet one’s desired lifestyle but to ensure their health and wellbeing as well,” said Sta. Lucia Land Inc. President Exequiel Robles. “While our developments are future-ready, we have to make a few adjustments to ensure that it would be well suited for today’s still evolving landscape. We continue to make sure that in all our developments, residents can have access to modern conveniences and still enjoy nature’s gifts,” Robles added. For 50 years now, the Sta. Lucia Group, led by its publicly listed arm Sta. Lucia Land Inc., has been building communities that deliver an enhanced lifestyle for its residents. A pioneer in many aspects, Sta. Lucia has created developments that are not only beyond ordinary but are also built to last. Its golf and lakeside

communities have given sports aficionados and nature lovers a space where they can actually pursue their passion. Its house and lots, and lots only offerings have meanwhile seen a renewed interest from buyers as the pandemic made many realize the value of having wide open spaces and fresh air. “We have seen great interest from potential homebuyers and investors even amid the pandemic. There was that renewed interest and appreciation for homes with wide open spaces. One type of development that stood out is the farm estate like our La Huerta Farms and Residences in Laguna, where we offer farm lots,” Robles shared. “Apart from our lakeside communities like Catalina Lake Residences in Batangas and Puerto Princesa, The Lake at St. Charbel in Cavite, La Alegria in Silay and Marbella Lake Residences in Laguna, our farm lots have also generated much interest among buyers. I think this demand is primarily driven by the kind of lifestyle that the pandemic is teaching us—that is, to live a sustainable and, ideally, stress-free lifestyle,” he added. Sta. Lucia Land believes that its portfolio of developments is well suited to deliver the ideal “now normal” lifestyle as its communities can provide that much sought-after spaciousness, fresh air, a healthy dose of greens, a piece of nature’s wonders, and a link to life’s modern conveniences while practicing a more sustainable lifestyle. “Through La Huerta, we hope to provide families and individuals the

The Catalina Lake Residences in Batangas offers residents what they need in the now normal—wide open spaces, fresh air and proximity to nature.

Marbella Lake Residences in Laguna offers the opportunity to lead a healthier lifestyle.

Communities built by the Sta. Lucia Group are highly suited to deliver the ideal lifestyle in the now normal.

World-class amenities and features will ensure the comfort and convenience of future residents at La Alegria in Negros Occidental.

opportunity to find the concept of farming as more than just a weekend activity but rather as a way of life and an integral part of the whole family’s

quest for a healthier lifestyle,” Robles concluded. Truly, now more than ever is the best time to invest in your own safe

space whether it be a farm lot, or a house and lot. After all, living sustainably seems to be the way to go— harness nature’s bounty and live a

healthy and stress free lifestyle. For more information, call (+632) 8681 7332 or visit www.stalucialand. com.ph

Sports

P.O.C. TO FIGHT FOR EJ’S SEAG, ASIAD CAMPAIGN

BusinessMirror

| Wednesday, January 26, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

KEYS PIERCES SEMIS

ELBOURNE, Australia— Madison Keys continued her resurgent 2022 season by advancing to the Australian Open semifinals for the first time in seven years. And resurgent might be a major understatement. Her 6-3, 6-2 quarterfinal win over French Open champion Barbora Krejcikova on Tuesday was her 10th match win in a row and 11th of the new year. She served 11 aces, 27 winners and dropped just one just service game. Her run in ‘22 includes five wins so far at Melbourne Park, starting with a straightsets victory over 2020 Australian Open winner Sofia Kenin, plus five in winning the Adelaide International—her first title since 2019—and one at an earlier Melbourne tournament. Her total number of wins in all of 2021? That same number, 11. “I did everything I could to rest this offseason and focus on starting fresh and new... starting from zero and not focusing on last year,” Keys said in her on-court interview. “I think it’s going well so far!” Last week, Keys gave more details on how terrible 2021 was for her. “I was just at a very high anxiety level all of the time,” Keys said. “I wasn’t sleeping as well. It felt like there was literally a weight on my chest just because I became so focused and obsessed with it that I wasn’t enjoying really anything because it’s all that I was thinking about.” Her year-end ranking slumped to 56th, and it was the first time since 2014 she’d finished outside the Top 20. In 2015, Keys lost an Australian Open semifinal to Serena Williams, her first trip to the final four at a major. She reached the final at the 2017 US Open and semis at Roland Garros and the US Open in 2018, but hadn’t made it back to the last four in a Grand Slam since then. The feeling in Melbourne will be vastly different. She could be facing either top-ranked

Ash Barty, an Australian, or fellow American Jessica Pegula. “I’m seven years older and it’s not my first semifinal of a Slam,” she said. “I think I’m a little bit more prepared this time around than I was all those years ago.” Krejcikova took a medical timeout while trailing 5-2 in the first set from what might have been heat stress, and appeared to be lethargic at times during the 35-minute second set. Temperatures was peaking toward 32 degrees Celsius (90 Fahrenheit) under almost cloudless skies. “It was the heat with some physical conditions that started to bother me after five games,” Krejcikova, who is still playing in the doubles draw, said. “I mean, from there on, you know, I just couldn’t put it together. “I have been struggling with something. Yes, it was happening and I didn’t feel good. I just don’t want to talk about it because I think Madison, she really deserves the win and she really deserves to get the credit. ” Rafael Nadal’s quest for a men’s record 21st Grand Slam singles title continues when he takes on Denis Shapovalov in the late afternoon match on Rod Laver. The other men’s quarterfinal on Day 9 between Gael Monfils and Wimbledon finalist Matteo Berrettini closes the night program. AP

HE Philippine Basketball Association (PBA) will remain in Metro Manila for the resumption of the Governors’ Cup once the government approves its request for a restart in the first week of February. “As of now, we don’t have any plan of playing nearby provinces especially that we have a great chance to restart since Covid-19 cases are starting to decrease,” PBA Commissioner Willie Marcial told BusinessMirror on Tuesday. Marcial has asked various local governments in Metro Manila to accommodate the Governors’ Cup resumption under controlled environments, as well as sought approval from the Inter-Agency Task Force on the Management of Emerging Infectious Diseases through the Games

and Amusement Board. He said that they have also asked the permission of the Metropolitan Manila Development Authority to restart the reason shuttered when infections spiked with the Covid-19 Omicron variant. “We’re just waiting for their approval and hopefully we can resume by the first week of February,” he said. Once approved, Marcial said the teams will be given 10 days to train collectively. A total of 26 games were already played–including 16 with live fans at the Smart Araneta Coliseum—when the conference was indefinitely suspended last January 3. The return of fans in the stands, Marcial said, will also depend on the conditions set by the LGUs. Josef Ramos

HE Philippine Sports Commission (PSC) on Tuesday acknowledged receipt of documents from Ernest John “EJ” Obiena’s through his lawyers via email stating that the Olympic pole vaulter “will no longer participate in the mediation proceedings.” “As mediation requires for the voluntary agreement of both parties for the process to proceed, we inform you that mediation is temporarily on hold,” the PSC said. The PSC added: “Despite this development, we maintain our stand that mediation is still the best option to resolve this matter.” The PSC also said that Obiena

Magsayo must make amends

waylay, Magsayo. And in so doing, Russell actually exposed yet again Magsayo’s immaturity, or his lack of savvy required of a king befitting a world crown adorning his head. Magsayo’s shots, connecting 150 against Russell’s expectedly measly 69, were mostly off the mark—a flaw that must be fixed quick if the Bohol-born 26-year-old is to warm his throne a bit longer. If you can’t pin down a foe fighting with only one healthy hand—even snatching the win by a mere majority decision— you have no business calling yourself a world champion. But your first defense should do it, Mark. Meaning, put your challenger to sleep. Please. Otherwise, I’ll drop your moniker, “Magnifico.”

WHY did Mark Magsayo fail to knock Gary Russell Jr. out on Sunday? Russell was not 100 percent fit to fight, his right shoulder hurting when he climbed the ring in Atlantic City, New Jersey, USA. Magsayo aggravated the injury when he got it jarred in the fourth, rendering the 33-year-old American a virtual one-armed target for dessert from the fifth up to the 12th and final round. Magsayo was, therefore, easily poised to make Russell his 17th knockout victim in this his 24th undefeated fight—his first crack at a world crown. And Russell truly faced the specter of a second loss in 34 fights to lose his World Boxing Council (WBC) featherweight belt—by stoppage at that since Magsayo is a famed knockout artist. But, alas, there was no knockout. Not even a knockdown. OK, Russell was constantly a moving target, ducking and weaving consistently to baffle, if not oftentimes

THAT’S IT Saying it’s final, pole vault star EJ Obiena on Monday said he is not joining the mediation process initiated by the Philippine Sports Commission (PSC). PSC chair Butch Ramirez took it in stride, saying peacemaking has “no deadline.” In skipping the mediation for the second time, Obiena said: “I believe in mediation as a tool for peace and I have full trust…in Chairman Ramirez. Unfortunately, it seems that Mr. Juico (track & field chief) is into mediation in bad faith and is using it…to silence me and to keep the truth hidden.” Juico has publicly accused Obiena of manipulating the liquidation of salary payments to Obiena’s Ukrainian coach Vitaly Petrov. Obiena, the world No. 5 and Asia’s record-holder, has denied the charge and buttressed his position by citing Petrov’s affidavit that he received his P4.8-million salaries from 2018 to 2021. Obiena, based in Formia, Italy, is set to participate in Europe’s indoor season on Saturday in Germany. Is Juico sanctioning Obiena’s outing?

HE Philippine Olympic Committee (POC) will fight for Ernest John “EJ” Obiena’s inclusion in the Hanoi 31st Southeast Asian Games and perhaps even in the Hangzhou 19th Asian Games—if the Olympic pole vaulter’s conflict with his national sports association (NSA) drags on further. “We will fight for it…the NOC [national Olympic committee] will fight for it,” POC President Rep. Abraham “Bambol” Tolentino reiterated in Tuesday’s online Philippine Sportswriters Association Forum, adding he can participate in the regional games even without the endorsement of Philippine Athletics Track and Field Association (Patafa). “There’s a provision in the IOC [International Olympic Committee] charter that indicates that the NOC has the sole authority to submit its members of delegation as proposed by the NSAs,” Tolentino said. “This applies to whether they’re the Olympics or regional, continental or world tournaments patronized by the IOC.” Tolentino cited Rule 27 in the IOC charter that allows an NOC to endorse athletes to compete in any internation-

al competitions like the SEA Games, Asian Games and Olympics even without the approval of the NSA. The POC chief bared that the 26-year-old Asian men’s pole vault record holder is part of the 80-athlete list which are on appeal for funding by the Philippine Sports Commission. These athletes are not part of the 584 athletes that will be funded by the PSC for the Hanoi SEA Games. “If those 80 athletes cannot obtain government support, they can be funded privately,” he said. Tolentino said dropping Obiena from Patafa’s list is a guaranted one medal lost by the country. “Are they willing to deprive their potential athlete of whatever medal by not endorsing them because of this brouhaha?” Tolentino said. The POC General Assembly, he said, will convene on Wednesday at the Grandmaster Hotel in Tagaytay City to discuss the status of Patafa President Philip Ella Juico, who was declared persona non grata by the executive board last month. The board will submit its decision for ratification by the General Assembly. Tolentino said he also respects Obiena’s decision to withdraw from the PSC-organized mediation.

Team PHL prepares for Hanoi Games with meager funds

NLESS additional funds come pouring in, Filipino athletes will have to make do with what’s available as they prepare for the 31st Southeast Asian Games in Hanoi in May. “We have to face the reality because of this pandemic,” Philippine Olympic Committee (POC) president Rep. Abraham “Bambol” Tolentino told Tuesday’s online Philippine Sportswriters Association Forum. Tolentino said there’s little hope the 584 athletes in the POC list can embark on overseas training barely four months before the Philippines tries to defend the overall SEA Games crown. “I doubt if our athletes can still go on overseas training,” he told the forum presented by San Miguel Corp., Philippine Olympic Committee, Amelie Hotel Manila, Braska Restaurant, Unilever, and the Philippine Amusement and Gaming Corp.,

PBA targeting Governors’ Cup return in early February in NCR PSC receives Obiena’s documents A RESURGENT Madison Keys may be an understatement. AP

By Josef Ramos

with Prime Edge as social media and webcast partner. Everything seemed to be going back to normal a couple of months ago until the COVID Omicron variant barged into the picture and left the SEA Games preparations back to square one. “We were quite relieved already,” said Tolentino, hoping the POC has enough time to draw support from congress and the private sector to boost the budget for the SEA Games. As it is, the Philippine Sports Commission (PSC) has P121 million funds allocated for the SEA Games. Originally, the budget stood at P200 million, but so much money were already spent for training before the pandemic kicked. The Hanoi SEA Games was originally scheduled last year but was pushed to May this year. “We’re working amid all the budgetary constraints,” added Tolentino, who ended up asking himself if the Philippines can keep the overall title despite the strong challenge

from host Vietnam. “Can we defend the overall championship? A lot of things have happened,” he said. “Second, the budgetary constraints will have a huge effect on our campaign.” “We can still defend the title, but it will be an uphill battle,” said Tolentino, adding the host country has scrapped more than 40 events where the Philippines won gold medals in 2019 and added more than 30 events where the hosts are favored to win this year. The cycling chief said it could be a battle for second overall among the Philippines, Thailand and Indonesia. “It’s a battle for two, three, four… but I think we can beat Malaysia and Singapore,” said Tolentino, who added that finishing fifth in the medal standings is a far-fetched idea. “Finishing fifth is farthest from our minds with what happened in 2019,” added the POC chief, recalling the year when the Philippines hosted the Games and won the overall title for the second time.

submitted his liquidation reports and the sports agency’s Accounting Office and the Commission on Audit will proceed with their normal post-audit process of checking and verifying the submitted liquidation documents.

EGAN HURT IN TRAINING ACCIDENT

Former Tour de France champion Egan Bernal breaks his femur and kneecap in a training accident Monday and undergoes surgery to repair the damage. Bernal receives reconstructive surgery on his right leg and also had sustains injuries to his chest and neck after he collided with a bus parked on a roadside outside Bogota while training with his team Ineos Grenadiers. AP

PHILIPPINE Olympic Committee president Rep. Abraham “Bambol” Tolentino says there’s little hope the 584 athletes on the list can still embark on overseas training barely four months before the games.

Ancajas defends belt vs ex-Olympian

ERWIN “PRETTY BOY” ANCAJAS makes a 10th defense of his International Boxing Federation (IBF) super flyweight belt against a dangerous opponent—unbeaten former Olympian Fernando Daniel Martinez of Argentina—on February 26 at the Cosmopolitan in Las Vegas, Nevada. MP Promotions president Sean Gibbons made the announcement on Tuesday and at the same time told BusinessMirror that Ancajas should prepare well against his formidable foe in the 12-round fight organized by the Premier Boxing Champions of Al Haymon. “It’s a very dangerous fight because Fernando Martinez is an Argentinian Olympian who misses his whole world, his whole life…nothing to lose, and he really wants that world title,” Gibbons said. Ancajas needs to beat

Martinez to position himself for a potential unification fight. “Jerwin has to be careful. He was scheduled to fight [Kazuto] Ioka, but the fight was pushed back,” Gibbons said. “He has to win this fight to move forward, to do any big unification fights and take on Ioka.” The Ancajas-Ioka fight was set on New Year’s Eve last year but Japanese officials called it off because of the spike in Covid-19’s Omicron variant infections. Ancajas, the 30-year-old pride of Panabo City, will square off with the Rio 2016 Olympian who’s undefeated in 13 fights with eight knockouts— including a sixth-round technical knockout win over Mexican Gonzalo Garcia Duran last August in Dubai. Ancajas trains at the Wild Card Gym in Los Angeles under long time trainer-manager Joven Jimenez. He won his IBF title in September 2016 against Puerto Rican McJoe Arroyo in Taguig City and now holds a 33-1-2 winloss-draw record with 22 knockouts. He booked a unanimous decision victory over hard-fighting Mexican Jonathan Javier Rodriguez in his last fight last April in Connecticut. Josef Ramos