BusinessMirror January 30, 2024

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P25.00 nationwide | 2 sections 22 pages |

HIKE TO CUT INFLATION’

SENATORS EXPRESS SOLIDARITY In a show of unity, all 24 senators don maroon armbands and ribbons on Monday (January 29, 2024) to express solidarity in the Senate amid the ongoing verbal skirmish with the House of Representatives over the People's Initiative. The symbolic act extends beyond the senators, as Senate employees also joined the collective stand for the institution’s integrity. ROY DOMINGO

H

By Cai U. Ordinario

@caiordinario

IGHER investments in agriculture and infrastructure are potent non-monetary measures that can help bring down inflation, according to Monetary Board members.

Monetary Board Member Bruce J. Tolentino told BusinessMirror on Monday that efforts to boost spending for agriculture, infrastructure, power, trade, and government operation will greatly contribute to bringing down inflation.

Based on the Consumer Price Index (CPI) for All Income Households, these have a significant impact on inflation. Food has the highest weight of 34.78 percent while the housing, water, electricity, gas and other fuels segment has

a weight of 21.379 percent.

Investments “in crucial sectors such as infrastructure and agriculture” are lacking, Tolentino told this newspaper. It is, he stressed, “crucial to ensure that the expenditures are those that truly increase productivity.”

Infrastructure, trade and government operations do not have direct weights under the CPI but can be felt through various commodity groups.

YEAR OF WOODEN DRAGON LUCKY FOR BBM–GEOMANCER

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

P

HILIPPINE President Ferdinand “Bongbong” Marcos Jr. will be able to generate a number of diplomatic alliances and attract investments in the Year of the Wooden Dragon, which begins on February 10, 2024.

That’s according to master geomancer Joseph Chau, who pointed out that Marcos Jr., otherwise known as “BBM,” was born in the Year of the Rooster (1957). “Roosters are the most compatible with the

dragon this year,” said Chau, speaking from Hong Kong at a press briefing at Marco Polo Ortigas. “Your President has two lucky stars—the Emperor Star and Empress Star—that means he is very powerful.

For the country to become one of the strongest in Southeast Asia, he must listen well to his advisors or consultants, like his Cabinet, and think over their recommendations well before he acts.”

It will be a “very productive and prosperous year,” for Roosters and that “many doors are opened for them,” as he cited See “Year,” A2

See “Infra,” A2

Think tank sees PHL’s Q4 growth at a mere 4.9%

T

HE Philippine economy may have posted lackluster growth in the last quarter of 2023 on the back of a weak global economy, according to Moody’s Analytics.

In its economic preview for Asia Pacific economies this week, Moody’s Analytics said the Philippine economy may have posted a growth of only 4.9 percent in the October to December 2023 period.

This is slower than the 5.9 percent in the third quarter but slightly better than the 4.3 percent posted in the second quarter. This is also lower than the expectations of the Bangko Sentral ng Pilipinas (BSP) and the National Economic and Development Authority (Neda).

“Higher spending by public agen-

cies as the year closed will lend support, but a softening global economy will put a lid on private investment and trade,” Moody’s Analytics said.

Data from the BSP earlier showed foreign direct investment (FDI) contracted 29.6 percent in October while net FDI inflows for the period January-October 2023 declined 17.5 percent. (See: https://businessmirror.com.ph/2024/01/11/ bsp-double-digit-dips-hit-october-10-month-fdi-flow/).

In terms of trade, the Philippine Statistics Authority (PSA) data showed the country failed to meet its export and import targets in 2023.

See “Think,” A2

DOF backs Pifita, says to help PHL meet targets

By Reine Juvierre S. Alberto

T REGIONAL LEADERS CONFRONT CHALLENGES Representatives from the Association of Southeast Asian Nations (Asean) gather for a group photo during their retreat meeting in Luang Prabang, Laos, on Monday, January 29, 2024. From left: Myanmar’s Asean Permanent Secretary Marlar Than Htike, Philippine Foreign Undersecretary Theresa Lazaro, Singapore’s Foreign Minister Vivian Balakrishnan, Thai Foreign Minister Parnpree Bahiddha-Nukara, Vietnam's Foreign Minister Bui Thanh Son, Laos’ Foreign Minister Saleumxay Kommasith, Malaysian Foreign Minister Mohamad Hasan, Brunei’s Second Foreign Minister Erywan Yusof, Cambodia’s Foreign Minister Sok Chenda Sophea, Indonesian Foreign Minister Retno Marsudi, East Timor’s Foreign Minister Bendito dos Santos Freitas, and ASEAN Secretary-General Kao Kim Hourn. The meeting, the first high-level gathering since Laos assumed the rotating chairmanship, focuses on addressing China’s assertive stance in the South China Sea and the escalating violence in Myanmar. AP/SAKCHAI LALIT

HE Department of Finance (DOF) is pushing for the passage of the Passive Income Finan-cial Intermediary Taxation Act (PIFITA) to yield positive revenue collection and to meet the Medium-Term Fiscal Framework (MTFF) in 2028.

Finance Assistant Secretary Karlo Fermin S. Adriano pointed out that the tax reform measures should be taken as “a whole package” that will “definitely impact” the targets outlined in the MTFF. See “DOF,” A2

PESO EXCHANGE RATES n US 56.4090 n JAPAN 0.3808 n UK 71.6394 n HK 7.2191 n CHINA 7.8581 n SINGAPORE 42.0680 n AUSTRALIA 37.0720 n EU 61.1812 n KOREA 0.0422 n SAUDI ARABIA 15.0436 Source: BSP (January 29, 2024)

News

BusinessMirror

A2 Tuesday, January 30, 2024

Survey: Investors confident of market rebound in 2024

By VG Cabuag

I

@villygc

NVESTORS are becoming more confident of a rebound in the market this year, according to a survey conducted by online stockbroker COL Financial Group Inc.

Marvin Fausto, COL’s investment management president, said the stockbroker’s quarterly survey among investors showed a continuing increase in optimism since the first quarter of last year.

“Less and less people are now pessimistic,” Fausto said.

This is despite investors sharing concern about the potential escala-

tion of geopolitical tensions and a resurgence of inflation.

“We’ve seen that inflation has been on the trend downwards, but they’re worried that El Niño and other risks could come into play. Maybe geopolitical wars as well may also affect inflation,” he said.

April Lynn Tan, COL’s chief eq-

THink...

The BSP expects inflation to slow further in 2024 due to high base effects. (See: https://businessmirror.com.ph/2024/01/29/ratehike-hinges-on-faster-growth-inq4/).

“In the Philippines, improving private consumption amid fading inflation, a tight labor market, and robust remittances should support economic growth of 4.9 percent year over year,” Moody’s Analytics said.

Continued from A1

The PSA data showed exports contracted 7.6 percent to $73.52 billion while imports declined 8.2 percent to $125.95 billion in 2023. (Story here: https://businessmirror. com.ph/2024/01/26/psa-dataphl-badly-missed-2023-merchandise-trade-goals/).

However, Moody’s Analytics expects these to be offset by strong consumption spending, which will benefit from the slowdown in inflation to 3.9 percent in December 2023.

Business outlook

OXFORD Economics said based on the results of its Global Business Sentiment Index, businesses expect global growth to remain stable in 2024.

uity strategist, meanwhile, said local stocks could finally enter a bull market this year as the outlook for economic growth improves with stocks being cheap and under-owned.

Tan said inflation and interest rates may have already peaked, potentially spurring consumer and investment spending unlike last year.

She also said government spending is likely to increase at a faster pace this year. COL sees the benchmark Philippine Stock Exchange index (PSEi) hitting between 7,100 and 7,500, with the base case scenario assuming an earnings per share growth of 10 percent.

“However, the major risk facing local stocks is contagion coming from Based on their latest index estimates, businesses’ mean expectation is for annual global growth to remain within the 2.2-2.4 percent range in 2024.

These businesses have also revised their estimates for world GDP growth upward in early 2024.

The mean expectation for growth in the first quarter has risen to 2.4 percent, up 0.7 percentage points (ppts) since October 2023.

Oxford Economics also said the mean expectation for annual growth in the fourth quarter of 2024 is now 2.3 percent. This is the highest yearahead expectation since April 2022, but still 0.4 ppts below the average pace of growth over the past decade. Cai U. Ordinario

the possibility that the US would suffer from a hard landing or recession and a bear market. When recessions and bear markets happened in the past, the Philippines always suffered from contagion,” Tan said.

She advised investors to focus on more defensive stocks which are more resilient to economic downturns and those that provide income through cash dividends, while pooling a war chest for ready deployment when opportunities for bargain hunting arise.

“It would be wise for investors to keep some cash so they can capitalize on opportunities to buy stocks at even cheaper prices in case they are sold down indiscriminately because of contagion.”

DOF...

Continued from A1

PIFITA is Package 4 of the Comprehensive Tax Reform Program (CTRP) which seeks to “harmonize” the taxation of passive income and financial intermediaries by reducing and “simplifying” the complicated tax rates on financial transactions.

During the Public Hearing of the Committee on Ways and Means on Monday, Adriano said that in 2024, the government will stand to gain about P13 billion in additional revenues assuming that all of the tax measures will be passed.

“For the next five years, the government will stand to gain about around P290 billion,” he added.

Adriano, in his presentation, said the Emerging revenues as of December 2023 are “significantly lower” than the MTFF and the Budget of Expenditures and Sources of Financing (BESF) 2024 levels.

“We expect revenues from 14.8 percent, it will grow to around 16.4 percent in 2028,” Adriano said.

If no tax reform measures are passed, he said revenues will further lower by 0.2 percent of the GDP compared to the Emerging revenues.

PIFITA, if it will not be implemented given the current form and the negative revenues discussed last hearing, will increase the deficit to GDP ratio by around 0.1 percent, Adriano said.

Adriano previously discussed before senators the projected revenue losses that the national government would experience due to PIFITA. Based on DOF’s calculations, the state would lose a total of P125.9 billion in revenues from the third quarter of this year until 2029.

This translates to an annual average revenue loss of about P21 billion, which stems from the lowering of various tax rates across the capital markets and the financial sector of the country, Adriano added.

(See: https://businessmirror. com.ph/2024/01/23/dof-pifitaspells-p126b-in-government-revenue-loss/) “If we’re able to pass all the reforms, we expect that our deficit to GDP ratio by 2028 is around 3 percent, similar to the target in MTFF,” Adriano added, emphasizing that all these data are subject to change.

PIFITA is deemed to improve the market size of the financial sector by collecting more revenue and taxes which will offset the negative revenue impact of this measure, said Sen. Sherwin T. Gatchalian, chair of the Senate Committee on Ways and Means, during the second hearing.

By simplifying and harmonizing the tax rate, it will improve compliance in the administration of taxes, he added.

Finance Secretary Ralph G. Recto pressed for the passed of the priority tax measures of the DOF including Package 4 or PIFITA which he said will maintain the structure of some products and instruments while delaying the implementation of certain provisions by 2028. (See: https:// businessm ir ror .com. ph/2024/01/26/government-togenerate-%e2%82%a7200b-infresh-revenues-after-passage-ofrefined-tax-proposals/)

www.businessmirror.com.ph

Year...

Continued from A1

the leaders of other countries wanting to make friends with Marcos Jr. Chau also suggested that the water fountain in the southwestern side of Malacanãng be kept open and running “24/7” to sustain the country’s luck. Other Roosters include Marcos Jr.’s Special Assistant for Investment and Economic Affairs Frederick Go and LT Group President Lucio Tan III. This year, the Philippines will have an unstable financial situation “from time to time.” Chau said: “Merchants should change their traditional strategy in doing business, and be flexible to cope with the sudden change and adapt to the local situation.”

Businesses that will flourish are construction, real estate, information technology, telecommunications, and restaurants. Those that will be “a little weak and full of challenge” are banking, tourism, hotels, trading, logistics, transportation, garment, furniture and Chinese herbs.

The lucky ones

PIGS (1935, 1947, 1959, 1971, 1983, 1995, 2007, 2019) are the luckiest among the 12 Chinese zodiac signs this year, said Chau, as they have both the Emperor and Empress star shining on them as well. There will be an opportunity for work promotion so Pigs should make “good use of this chance to spread their talents and strike while the iron is hot. Money luck is pretty good.”

RATS (1924, 1936, 1948, 1960, 1972, 1984, 1996, 2008, 2020), like business tycoons Jaime Augusto Zobel de Ayala and Enrique K. Razon, are partly allied with the Dragon this year. “They have a Commander lucky star that shines bright, so work progress is smooth sailing,” said Chau. “They are able to solve all the tough challenges without many difficulties.” However, Rats also have to “keep a low profile and maintain good relationships with others to avoid jealousy and backstabbing.”

DRAGONs (1928, 1940, 1952, 1964, 1976, 1988, 2000, 2012, 2024) have a 50-50 chance to be lucky and unlucky. “Their career luck is under great pressure,” said Chau. But because they have a “Sui Ka” lucky star, “they can change their bad luck into good fortune,” he pointed out. Dragons, which include Bangko Sentral ng Pilipinas

Infra...

Gov. Eli Remolona, and newly appointed Finance Secretary Ralph Recto, must “work more, and talk less as money luck for them is easy come and easy go.”

Although OXEN (1925, 1937, 1949, 1961, 1973, 1985, 1997, 2009, 2019) have a “broken relationship” with the Dragon this year, they are graced by three lucky stars: Heavenly Virtue, Grace star, and the Noble star. “This means they are able to change their bad luck into good fortune,” said Chau. “Money luck is prosperous with money rolling in.”

Greatly improved luck

TIGERS (1926, 1938, 1950, 1962, 1974. 1986, 1998, 2010, 2022) will have a “busy and changing year,” with Traveling Lucky Star shining bright on them. “They will have many chances to go around and visit their clients.” Tigers, like BDO Chair Teresita Sy Coson, “have to work hard for the survival of their business,” with their Wealth Star in their corner, their money luck is excellent this year. “So the work will be bitter at first and sweet later.”

With four luck stars shining on them this year, the business and career of SNAKES (1929, 1941, 1953, 1965, 1977, 1989, 2001, 2013), will be smooth sailing this year. “Take this good opportunity to strengthen your talents and business, striking when the iron is hot,” Chau advises. Those those who work in an office should “be humble enough and not show too much of their abilities, to avoid getting attacked by jealous people.”

The luck of MONKEYS (1920, 1932, 1944, 1956, 1968, 1980, 1992, 2004, 2016) this year are greatly improved as they are “partly allied with the Dragon.” Although their money luck is good, it will be a case of “easy come, easy go.” Chau advises Monkeys like Yuchengo Group of Companies president Helen Yuchengo Dee, “to pay special attention when signing contracts,” as there is a “court case unlucky star” present.

Not so lucky this year are those born in the Year of the Horse (1930, 1942, 1954, 1966, 1978, 1990, 2002, 2014), Rabbit (1927, 1939, 1951, 1963, 1975, 1987, 1999, 2011, 2023), the Goat (1919, 1931, 1943, 1955, 1967, 1979, 1991, 2003, 2015), and the Dog (1934, 1946, 1958, 1970, 1982, 1994, 2006, 2018).

Continued from A1

However, based on the CPI for All Income Households, transportation has a weight of 9.03 percent while information and communication has a weight of 3.41 percent.

Overall, food and non-alcoholic beverages have a weight of 37.7 percent while non-food commodties carry a weighht of 60.09 percent.

As such, Tolentino said, agriculture investments must be poured into productivity-enhancing interventions. This means investing in “high-yielding seeds, carefully designed irrigation, veterinary services, [and] farmer knowledge.”

In terms of infrastructure, Tolentino said infrastructure investments should be directed toward “open telecoms and many more transport infra, particularly in rural areas.”

“In general, the Philippines’s investment rate is low versus our peers. This includes not just government, but the whole country,” Monetary Board Member Romeo Bernardo told BusinessMirror.

He also said the country also needs more investments to attract Foreign Direct Investments (FDIs) and Public Private Partnerships (PPPs), particularly for infrastructure projects.

BSP letter

LAST week, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. released an open letter to President Ferdinand R. Marcos Jr. which also highlighted the importance of non-monetary measures to address inflation this year.

Tolentino clarified that the open letter was issued by the BSP Governor to meet the requirements of the law. He explained the BSP must explain to the national government “why inflation is not keeping to the policy rate.”

He added that this is embedded in the inflation-targeting framework of the BSP as approved by the Development Budget Coordination Committee (DBCC).

“Open Letters are issued and published by inflation-targeting central banks to promote greater transparency and accountability in the monetary policy decisionmaking,” said Tolentino, quoting DBCC Resolution No. 2002-01.

In his open letter, Remolona said the BSP’s risk-adjusted forecasts indicated that inflation may settle above the target at 4.2 percent in 2024 before slowing to about 3.4 percent in 2025.

However, risks remain skewed to the upside this year and next year.

These upside risks include higher transport charges, increased electricity rates, and higher oil and domestic foodprices.(See:https://businessmirror .com.ph/2024/01/26/ bsp-chief-endorses-non-monetary-measures-against-inflationto-pbbm/).

The BSP, Remolona earlier told reporters, remains hawkish because commodity prices are expected to increase in the second quarter of the year. (Full story here: https://businessmirror.com.ph/2024/01/29/ rate-h ike-h i n ge s- on-fa s te rgrowth-in-q4/).

Tuesday, January 30, 2024

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

A3

PBBM says fentanyl may have caused Duterte’s drug-use rant

By Samuel P. Medenilla @sam_medenilla

& Manuel T. Cayon @awimailbox

F

ROM exchanging pleasantries in their past meeting in Malacañang last year, President Ferdinand R. Marcos Jr. and former president Rodrigo R. Duterte are now engaged in swapping drug-use allegations.

In an interview with reporters prior to his flight for his State Visit in Vietnam on Monday, Marcos attributed the recent rant made by Duterte against him to the former president’s alleged fentanyl use.

“Fentanyl is the strongest pain killer that you can buy. It is highly addictive and it has very serious side effects, and PRRD [Duterte] has been taking the drug for a very long time now. When was the last time he told us that he was taking Fentanyl? About five, six years ago, something like that,” Marcos said.

“After five, six years, it has to affect him.

That is why I think that is happening to him. So, you know, I hope his doctors take better care of him than this—and not neglect these problems,” he reminded.

In 2017, Duterte publicly disclosed he was taking Fentanyl after a motorcycle accident. However, he stressed then he was “not addicted” to the pain reliever.

PDEA list

LAST Sunday, Duterte alleged the Philippine Drug Enforcement Agency (PDEA) showed him a “list,” which supposedly included the name of Marcos, while he was still a mayor of Davao City.

He said he decided not to release the information since he considers Marcos as a “friend or an acquaintance.”

But PDEA denied Duterte’s claims and stressed Marcos was never included in its National Drug Information System (NDIS), its watch list for persons linked to illegal drug use.

“From its inception in 2002 and up to

DILG chief vows to dismantle syndicate within LTO engaged in selling stolen vehicle plates

By Rex Anthony Naval

D

EPARTMENT of the Interior and Local Government (DILG) Secretary Benjamin “Benhur” Abalos Jr. over the weekend vowed to totally dismantle a syndicate engaged in stealing license plates right inside the Land Transportation Office’s (LTO) plate making plant.

This, as he warned the remaining ring members, including the mastermind, to give up peacefully or face the prospect of being hunted relentlessly by law enforcers.

The Philippine National Police (PNP) is one of the attached agencies under the DILG. Initial reports indicated that the syndicate reportedly sells each pair of stolen vehicle plates between P5,000 to P10,000 to their buyers.

Abalos issued the warning following the arrest of three LTO personnel who were caught red-handed while trying to illegally bring out from inside the plant five pairs of stolen license plates.

The suspects were nabbed during an operation conducted by the combined operatives of the LTO and DILG-Special Projects Group.

Two of the suspects were embossers at the facility, while the other was a warehouse staff.

Abalos said that an investigation is still ongoing and they are determined to find out the extent of the operations of the syndicate, and identify their cohorts including the mastermind who remains at large.

Charges of five counts of qualified theft under Article 310 of the Revised Penal Code and the illegal production of LTO plate numbers under Section 31 of Republic Act 4136, are being readied against the suspects.

Abalos is confident they have an airtight case against the suspects given the strong evidence that the LTO Intelligence Division and DILG Special Projects Group had gathered so far.

He added that he immediately dispatched the DILG- Special Projects Group, which reports directly to him, after LTO Assistant Secretary Vigor Mendoza II sought police assistance in arresting the suspects.

Abalos also directed the PNP Highway Patrol Group to coordinate with Mendoza’s office and help the latter in recovering previously stolen plates.

The DILG chief also advised the public, especially would-be vehicle buyers to first check with LTO on the validity of QR Codes inked in the LTO plate numbers before making any purchase.

Go joins Dinagyang Fest, lauds Ilonggos for rich culture and community spirit

S

ENATOR Christopher “Bong” Go attended the vibrant Dinagyang Festival at the Freedom Grandstand in Iloilo City on Sunday, January 28.

Go highlighted the importance of cultural celebrations in fostering community spirit and national pride. He praised the organizers and the local government, led by Iloilo City Mayor Jerry Treñas, Vice Mayor Jeffrey Ganzon, Rep. Julienne “Jam Jam” Baronda, Councilor Love Baronda and other city officials for their meticulous planning and execution, which ensured a safe and successful event.

The Dinagyang Festival was also attended by fellow senators Lito Lapid, Francis Tolentino, Ramon “Bong” Revilla, Risa Hontiveros, and other public figures as well as local officials led by Governor Arthur “Toto” Rivera Defensor Jr., Uswag Ilonggo Partylist Rep. James “Jojo” Ang, Leganes Mayor Vicente “Junjun” Jaen, among others.

Amid the festivities, Go’s visit will not be complete without helping communities in need. That is why he also provided assistance to 53 victims of typhoon “Egay” from the towns of Pavia, Zarraga, and Il-

oilo City during his visit. The beneficiaries also received assistance from the National Housing Authority for housing materials to rebuild their houses.

After which, he inspected the Super Health Center being built in Pavia, Iloilo which Go advocated for together with the Department of Health, fellow lawmakers including Rep. Mike Gorriceta who joined him in his visit, as well as Mayor Luigi Gorriceta, Vice Mayor Edsel Gerochi and the rest of the local government.

Furthermore, Go, chairperson of the Senate Committee on Health and Demography, took the opportunity to discuss his ongoing commitment to the province, with a particular focus on health initiatives.

He underscored the presence of Malasakit Centers in the city located at West Visayas State University Medical Center and Western Visayas Medical Center, which offer medical-related assistance to residents.

These Malasakit Centers, according to Go, are part of a larger initiative aimed at providing accessible healthcare services to Filipinos.

the present, President Ferdinand R. Marcos Jr. was never in our NDIS,” PDEA said in a statement.

When asked by a reporter if he can categorically deny any involvement in drugs, Marcos declined to make a comment, saying he does not want to dignify such a question.

The ‘rant’

DUTERTE alleged President Marcos was on the government narcotics list, as he threw a barrage of accusation against the administration, including the alleged “machinations” by the President’s wife to “perpetuate” the Marcoses in power.

Duterte recalled PDEA showed him a list of people on the anti-illegal drugs watch list while he was still mayor here, “and your [President Marcos] name was on it.”

Duterte disclosed this at a public rally at the Rizal Park here in Davao City, where supporters and political allies from across the country came.

He said he should not have disclosed this

publicly but he told the Marcos couple, “This is the situation that I have avoided, because by then, I would be forced to talk against people in government.”

“Mr. President,” he said, “baka susunod ka sa dinaanan ng tatay mo [maybe you will follow the fate of your father]. That is when I am afraid because I don’t want that to happen to you.”

Duterte talked at length about the administration’s push to amend the Constitution, accusing the Marcoses and their allies of seeking to perpetuate themselves in power. He said the nation would be the ultimate victim.

He alleged the President’s wife, Lisa Araneta-Marcos, and Speaker Martin Romualdez are allegedly behind the people’s initiative drive, the first step to amend the Constitution.

Duterte added the alleged plan of the President’s wife and his cousin, Speaker Romualdez, was to install the President’s son, Sandro Marcos, who is also a congressional representative; or for Romualdez himself to

proclaim himself prime minister and relegate President Marcos to a ceremonial function.

“That is their plan,” Duterte alleged.

“There’s nothing wrong with the Constitution right now, the environment in the Philippines is positive. There’s no problem. Our lives are okay, then suddenly there is this people’s initiative,” he added.

SMNI, however, failed to strictly comply with the suspension order, which prompted the NTC to issue a cease and desist order against its radio and television operations on January 18, 2024.

As of this writing, Malacañang has yet to announce if the second meeting between Marcos and Duterte pushed through.

Duterte-Marcos meeting

Unaffected

SINCE being elected in 2022, Marcos first met with Duterte in Malacañang last August, where they discussed the latter’s talk with Chinese President Xi Jinping in Beijing.

Duterte requested another audience with Marcos to discuss the suspension of the operation of Sonshine Media Network International (SMNI).

The National Telecommunications Commission (NTC) first issued a 30-day suspension order to SMNI last December in line with a resolution of the House of Representatives alleging SMNI violated certain provisions of its franchise.

Dalipe: House ‘too busy’ for Senate’s probe on PI

H

OUSE leaders on Monday announced that officers and members of the lower chamber will not be present at Tuesday’s Senate hearing on the ongoing people’s initiative (PI) to propose a single amendment to the Constitution, but reassured senators that their push for constitutional reform is not aimed at abolishing the Senate.

House Majority Leader Manuel Jose Dalipe was reacting to the public invitation extended by Senator Imee Marcos, who chairs the Senate committee on electoral reforms.

Expressing gratitude for the invitation, Dalipe said the House’s current focus is on crafting legislation aimed at improving the lives of fellow Filipinos.

“While we appreciate Senator Marcos’ open invitation to the Senate probe, it seems we in the House have our hands full crafting legislation aimed at enhancing the lives of our fellow Filipinos. It’s a demanding task, but someone’s got to do it,” Dalipe said.

“Perhaps while we focus on building bridges, others seem more inclined to hunt for witches. But rest assured, should our legislative schedule allow, we’d be more than willing to engage in fruitful discussions, preferably ones that construct, not deconstruct, our collective efforts for national progress,” he said.

Acknowledging the people’s right enshrined in the Constitution to directly propose changes to the Charter, Dalipe clarified that lawmakers have distanced themselves from the PI, emphasizing that they are not directly involved in the process.

Assurance

THE rest of the House leaders who echoed Dalipe’s statement of assurance are Rizal Rep. Jack Duavit, who heads the Nationalist People’s Coalition (NPC) bloc in the House; Deputy Speaker and Ilocos Sur Rep. Kristine Singson-Meehan; Senior Deputy Speaker and Pampanga Rep. Aurelio “Dong” Gonzales Jr.; and Bataan Rep. Albert Garcia, who is secretary general of the National Unity Party (NUP).

They said any fear that the House is seeking to scrap the Senate is just in the mind of the one expressing it.

At the same time, they reiterated the support of the House and its leadership led

by Speaker Ferdinand Martin G. Romualdez for Resolution of Both Houses (RBH) No. 6, which is pending in the Senate and which proposes amendments to the “restrictive” economic provisions of the Constitution.

The resolution was authored by Senate President Juan Miguel Zubiri and Senators Loren Legarda and Juan Edgardo Angara.

The Senate has referred it to a special subcommittee chaired by Angara.

Duavit clarified that any concerns about the House seeking to scrap the Senate exist only in the minds of those expressing such fears.

He emphasized the commitment of their party to retain all five NPC senators and affirmed that there is no intention to remove any senator.

“With regard to the fears and allegations that the House would want to abolish the Senate, we would just like to let everybody know that, as far as our party is concerned, there is no way we will be voting in any form to remove our five senators. And if we are not going to remove our five senators, then the other 19 senators can be assured,” Duavit said in an interview during the House party leaders caucus presided over

by Speaker Romualdez, Lakas-Christian Muslim Democrats (CMD) president, that started late Sunday night.

The senators belonging to the NPC are Legarda, Francis Escudero, Lito Lapid, Sherwin Gatchalian, and Joseph Victor Ejercito.

House party leaders reaffirm support for RBH 6

TO show its “firm” commitment, political party leaders in the House of Representatives on Monday expressed their full support for Resolution of Both Houses (RBH) 6 currently

filed in the Senate.

The Senate resolution, which suggests amendments to the Constitution’s economic provisions, garnered the commitment of major political groups through a manifesto to swiftly adopt it when presented to the larger chamber.

“We remain steadfast in our commitment to support the historic endeavor of the Senate in its approval of the Resolution of Both Houses No. 6, and together with our dear Speaker, Honorable Ferdinand Martin G. Romualdez, we stand firm in

THE remarks made by Duterte appear to have no impact on the current position of her eldest daughter, Vice President Sara Duterte, in the Marcos Cabinet, where she serves as Secretary of the Department of Education.

Sara was also present at the Villamor Airbase for Marco’s pre-departure speech before he left for his State Visit in Vietnam from January 29 to 31, 2024.

Presidential Communications Office (PCO) Secretary Cheloy V. Garafil announced the President has also designated Sara as caretaker of the government until his return from Vietnam. our commitment to approve RBH No. 6 in the House of Representatives,” they said.

It is entitled, “A Resolution of Both Houses of Congress proposing amendments to certain economic provisions of the 1987 Constitution of the Republic of the Philippines, particularly on Articles XII, XIV, and XVI.” “Our collaboration with the Senate...is a testament to our shared commitment to nurturing an economic landscape that is dynamic, inclusive, and forward-thinking, ensuring that prosperity reaches every corner of our nation,” the political party leaders in the House said in their joint manifesto.

Jovee Marie N. Dela Cruz

Economy

Tuesday, January 30, 2024

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‘Big-time hike’: Oil firms raise gas, diesel, kerosene fuel pump prices

By Lenie Lectura @llectura

M

OVEMENTS in the world oil market continue to affect local pump prices as oil firms announced a fresh round of fuel pump price increases effective Tuesday morning.

In separate advisories, oil companies said they would jack up gasoline prices by P2.80 per liter, diesel by P1.30 per liter, and kerosene by P0.45 per liter. This is the fourth consecutive oil price hike for the year.

The price adjustment of Petron, Shell,

Caltex, Total, Unioil, Seaoil, PTT, Phoenix takes effect at 6 a.m. of January 29. Cleanfuel, meanwhile, will adjust its prices at 4:01 p.m.

Last week, oil companies implemented an increase in the price of gasoline by P 1.30/ liter and P 0.95/liter in diesel. There was no movement effected on kerosene. Based on DOE data, the year-to-date, the net adjustment of both gasoline and diesel stands at a net increase of P1.60/liter. Kerosene, on the other hand, remains at a net decrease of P0.40/liter.

The DOE said last week that prices this week could increase possibly due to the

lowering of US crude stock.

The local oil industry uses Mean of Platts Singapore (MOPS), which is the daily average of all trading transactions between buyers and sellers of petroleum products as assessed and summarized by Standard and Poor’s Platts, a Singapore-based market wire service.

The Philippine oil industry has stopped bench-marking local pump prices on crude since there is only one existing refinery in the country.

The shift to MOPS was undertaken to become more responsive to the movements

Deadline set for meat, fish exporters to Saudi Arabia

By Andrea E. San Juan @andreasanjuan

T

HE Department of Agriculture (DA) and Food and Drug Administration (FDA) have set January 31, 2024 as the deadline for the submission of documentary requirements for Philippine exporters intending to export fishery and meat products to the Kingdom of Saudi Arabia (KSA).

In an advisory published on its website, the Department of Trade and Industry (DTI) said, “In order to facilitate a harmonized processing of applications to resume exports of fishery and meat products to the Kingdom of Saudi Arabia [KSA], the DA and FDA have set the deadline for submission of the Letter of Intent and Self-Audit Forms on January 31, 2024.”

DTI said Philippine exporters are required to submit the necessary requirements to the Bureau of Fishery and Aquatic Resources (BFAR) for fishery products and to FDA for processed meat and meat products.

After the assessment of duly submitted forms, a joint inspection of the fishery and meat establishments will be conducted by the FDA and the applicable DA office/s: BFAR or the National Meat Inspection Service (NMIS) or Bureau of Animal Industry (BAI) to verify the “physical existence” and compliance to hygiene and sanitation requirements, as declared in the accomplished Self-Audit Forms, said DTI. Acco rd i n g to t h e DT I a d v i s o r y, accomplished forms of the establishments will be consolidated and endorsed to the Saudi Food and Drug Authority (SFDA) by

first quarter of 2024.

“SFDA will assess the submitted documents and will issue an invoice addressed to the establishment for the payment of 27,000 SAR [Saudi riyals] inspection fee for those who have a good chance of approval,” the advisory said.

In an advisory published on its website last October 2023, the DTI-Export Marketing Bureau (EMB) announced that the Ministry of Foreign Affairs (MOFA) of Saudi Arabia issued a Note Verbale informing the Philippines that the SFDA has lifted its ban on Philippine aquatic products, except shrimps.

Saudi’s import ban for shrimp remains in place due to shrimp diseases, such as Infectious Hematopoietic Necrosis, White Spot Syndrome, and Acute Hepatopancreatic Disease, DTI-EMB noted.

in the international market and local demand for fuel products. Before, the country uses Dubai crude as benchmark for pricing of local products.

However, this translates to one to two months lag time in reflecting the cost of products as it entails three weeks of travel time and another week or two for refining the crude and transporting the products to the pump.

The Philippines cannot also use the West Texas Intermediate (WTI) crude as benchmark since the country is not directly connected to the WTI pipeline in the US. Thus, the steep drop in the price of WTI has no bearing on local pump prices.

Whereas, basing price of products on MOPS will only entail five days for importation travel time and transfer to the pumps.

Based on estimates, there is a P1 per liter increase or decrease in domestic oil price for every $3 change in MOPS. DTI’s export marketing arm earlier noted that the ban on meat products had also been lifted as a result of various discussions between the Philippine Embassy in Riyadh and the SFDA. In 2019, DTI said the Philippines exported about $5.5 million worth of meat, poultry, fish, and aquatic products to KSA. As a result of the ban, there were no Philippine exports of these products to KSA from 2020 up to October 2023. In 2022, KSA imports of these products from the world reached $2.6 billion.

“The lifting of the ban on meat and aquatic products from the Philippines

by KSA is therefore a welcome development. Philippine exporters are advised to comply with food safety regulations to ensure continued market access to KSA and other export markets,” the advisory dated October 18, 2023 noted.

NGCP vows to complete more transmission projects after MVIP energization last week

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HE National Grid Corporation of the Philippines (NGCP) assured the completion of more transmission projects very soon following last week’s full energization of the P51.3-billion MindanaoVisayas Interconnection (MVIP) project.

“We are not done yet. After the MVIP, several big- ticket projects will see completion in the next months, in the next years, and within the 10-year horizon transmission plan. We are at the precipice of a modernized, world-class transmission system,” said NGCP President Anthony Almeda.

The MVIP is comprised of a 184 circuitkilometer (ckm) high-voltage direct current (HVDC) submarine transmission line connecting the power grids of Mindanao and Visayas with a transfer capacity of 450 megawatts (MW) expandable to as much as 900MW. The project also includes converter stations in both regions and more than 500ckm of overhead lines to facilitate the flow of electricity.

NGCP conducted a simultaneous ceremonial switch-on in Manila, Cebu and Lanao del Norte to mark the successful full energization of the MVIP. The energization ceremony was held at the Malacañan Palace last week, led by President Ferdinand R. Marcos Jr., NGCP’s Dumanjug Converter Station in Cebu, and Lala Converter Station in Lanao del Norte, and witnessed by key national and local government officials.

NGCP said it has so far infused over P300 billion in grid expansion initiatives, constructing 28 new substations, installing more transmission lines, upgrading existing facilities, and more than doubling transformer capacities. This translates to continuously improving grid performance, including lower transmission rates.

Almeda said the grid operator is ready to take on more transmission projects, citing “so many economic opportunities,” beginning with a stable energy industry and strong partnerships.

“With our strong partnership at the

heart of NGCP, we already have access to the technology powering the global leaders in the renewable energy space. With this, we are more than ready and willing to take on the laudable and ambitious dream of a greener, more renewable energy [RE]-friendly energy industry to keep up with the demands of a rapidly developing country and changing economic landscape,” he said.

“All you have to do, Mr. President, is tell us, and we will build the infrastructure you need to power our renewable energy aspirations,” Almeda added.

The MVIP was certified as an Energy Project of National Significance (EPNS). However, it still encountered various difficulties, particularly on right-of-way due to opposition of landowners and long and tedious judicial processes, protracted permitting process by local government units, security issues in certain areas in Mindanao, various requests for rerouting, submarine cable damage by an external party, and the Covid-19 pandemic in 2020.

In September 2023, the Cebu-Magdugo 230 kilovolt (kV) line, which is crucial to fully utilize the 450MW transfer of power on the Visayas side, was also the subject of a

temporary restraining order (TRO) issued by the Supreme Court.

NGCP commended the Department of the Interior and Local Government (DILG) for the proactive support extended in coordinating with local government units (LGU) affected by several critical transmission projects.

“With the DILG’s assistance, NGCP was able to secure 26 building permits from affected LGUs traversed by MVIP. We are grateful for the assistance of Secretary Benhur Abalos Jr., who extended every accommodation and went as far as appointing Assistant Secretary Odie Pasaraba who has been invaluable in our coordination with the LGUs,” stated the company.

An initial load of 22.5 MW was carried by the high voltage submarine and overhead lines from Mindanao to Visayas during its energization and was gradually ramped up to full capacity.

Parts of the MVIP were already completed in 2022, such as the Lala-Aurora 138kV Transmission Line, the 350kV Submarine Cable, and Cable Terminal Stations in Santander, Cebu, and Dapitan, Zamboanga del Norte. Lenie Lectura

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

Leadership change in 2024: The next boss should be a mentor

By Henry J. Schumacher

U

P to early 2020, no matter how much the office changed, the image of the boss endured: it was someone who put in years climbing the ranks or leapt between companies, propelled by triumphs in revenue growth. The best at charming new clients or closing deals. The manager with the final say on team objectives and your performance review.

Is it time for that boss to go extinct at the beginning of 2024? I think so. We are faced with generations in the workforce of the future; young ones want to become the biggest asset of the company; the baby boomers have to embrace the millennials and centennials.

The conditions under which the boss operates have shifted—fewer managers, more reports, less administrative work—a new model is emerging. This boss is a coach, not a dictator; a mentor, but not necessarily because of experience with sales or programming.

Where previous leaders may have sought to stand out, these managers excel at fostering collaboration. They must be able to dream jointly with the team and inspire the team.

They will be younger than you are, with less industry experience! Can you handle that?

Going forward, managers will be less technical experts and more social-emotional experts, to help employees navigate the culture of the organization. Bosses in previous generations tended to be excellent individual contributors who were promoted to management positions so they could teach teams. It was a model that functioned effectively as long as the rate of change in the workplace

BuCor and PEZA to sign MOA for ecozones today

T

HE Bureau of Corrections (BuCor) and the Philippine Economic Zone Authority (PEZA) are scheduled to sign today, Tuesday, a memorandum of agreement (MOA) that would allow the establishment of PEZA economic zones in certain portion of lands under BuCor. The agreement is in line with Republic Act No. 10575, otherwise known as “Bureau of Corrections Act 2013,” which provides for the modernization, professionalism and restructuring of the BuCor. Under the law, BuCor chief Gregorio Catapang Jr. said that they may opt to plan, develop, operate, and segregate portions of BuCor lands for the use of special economic zones.

He added that RA 10575 also provides that BuCor’s lands shall be used for inmates’ security, reformation programs, and as a means

Tesda chief cites need for more Filipino cybersecurity experts

T

ECHNICAL Education and Skills Development Authority (Tesda) Secretary/ Director General Suharto T. Mangudadatu, noting the recent rise in cybersecurity threats and data breaches, underscored the need to hone more Filipino workers with information and communications technology (ICT), skills particularly when it comes to cybersecurity.

Mangudadatu said cybersecurity threats and data breaches are impacting businesses, governments, and individuals alike, hence,

Filipinos need to be capacitated through appropriate IT training to encourage their cyber resilience.

“Such programs will result in greater opportunities for Filipino workers and a strengthened workforce that can help secure our country against cyberattacks,” said Mangudadatu.

The Tesda chief cited that the agency has rolled out its new Competency Standards (CS) for training programs on cybersecurity: Cyber Threat Monitoring Level I and Cyber

remained low. However, with technology such as automation and artificial intelligence changing our working environment at a fast pace, work will become more about idea generation and developing talent. Without the need to devote as much time to business tasks, managers will increasingly focus on coaching employees and providing emotional support, bridging the work/life expectations of various generations—with special focus on millennials and centennials. These people do not want to be told what to do, they expect to be encouraged to solve problems and moving the company forward as entrepreneurs, or rather as intrapreneurs.

As the role of the manager shifts from authority figure to nurturer, winning workers over on everything from the company’s performance record so far to tomorrow’s focus on digitalization, data management, providing sustainable products and services for instance will gain importance.

The changing job description of a boss and increased expectations from workers means a different type of employee will be considered management material. Those with highly developed social abilities, good listening skills, real-time processing skills, will pull ahead.

This will prove especially true in virtual environments, where the ability to gain employee trust and engagement over digital platforms will become crucial. Undergoing digital transformation, the question comes up: do I use technology to try to do my best to create a great workplace or do I use technology to get all the analytics and control someone’s professional life? While management training has traditionally focused on educating leaders to run the business, increasingly it needs to be geared toward training executives to manage through, and in some cases drive, rapid change. We need the right combination of high-tech and high-touch in human relations to attract and keep the right people.

The tools it takes to achieve that are often the tools of a coach and less the tools of a commander.

Having been a “commander” before, I have to admit that I like these changes. What about you? I am interested in your feedback. Contact me at hjschumacher59@gmail.com.

Threat Mitigation Level II. Mangudadatu has likewise signed the implementing guidelines on the deployment of training programs for these standards.

“We encourage the country’s schools and training centers to use these new cybersecurity standards as the bases for their training programs’ curriculum. They may also approach the nearest Tesda office in their areas for more information and to register their respective training programs,” he said.

The development of the said CS aims to

to promote sustainability, both for income and non-income generating programs, with or without partnerships among non-government, civic organizations or other government entities.

“Considering that BuCor can be vital partner in attracting Foreign Direct Investments (FDI) and in creating economic opportunities within the PEZA legal framework, both agencies have agreed to work together by forging their alliance through MOA,” Catapang said.

The two agencies will cooperate and identify portions of BuCor properties that can be developed as economic zones with special focus on Palawan as an agricultural and economic zone that can contribute to food security.

The MOA will be signed by Catapang and PEZA Director General, Tereso O. Panga at the PEZA office in Pasay City. Joel R. San Juan respond to the industry skills requirements for cybersecurity professionals to produce competent individuals equipped with 21stcentury skills compliant with the existing industry standards and practices.

The Cyber Threat Mitigation Level I and Level II Cyber Threat Monitoring Level I and Cyber Threat Mitigation Level II training programs were developed with technical experts from Cyber Security Philippines—CERT, Bankers Institute of the Philippines, Department of Information and Communications Technology (DICT), Mandiant, Dansal Solutions, and Armed Forces of the Philippines Cyber Command Group. Claudeth Mocon-Ciriaco

News BusinessMirror

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

Comelec halts all PI chores; senators still eye filing case Continued from A14 This bears out earlier accusations that some government social service programs were being used to trick people into signing the “PI” sheets.

Legarda said the EOs (election officers) had explained to her that they are not allowed by law to reject the signature sheets, and it is a “ministerial duty.” However, Legarda said with satisfaction, the Comelec en banc order on Monday morning had at least clearly instructed the EOs to temporarily stop accepting the signature sheets.

She cited reports she received that so far, 43 congressional districts have not yet submitted signature sheets.

Last week, Zubiri had announced the Senate’s plan to file a legal challenge against what they suspect is a campaign instigated by congressmen, and he sought the help of Pimentel, a Bar topnotcher, in crafting the petition against PI.

Comelec order questioned

A LEADER of the House of Representatives said on Monday that Comelec cannot unilaterally thwart or delay a people-driven initiative by refusing to implement constitutional provisions, laws, and its own regulations.

House Committee on Ways and Means Chairman Joey Sarte Salceda underscored the need for a formal written announcement from Comelec regarding the suspension.

“We will have to wait for the Comelec to formally announce that in writing. That said, the commission cannot unilaterally defeat or delay an act of the people by simply refusing to implement the provisions of the Constitution, the law, and the rules and regulations Comelec itself issued under Resolution No. 10650 s. 2020,” he said.

“The provisions of the rules Comelec itself issued regarding RA 6735 are that the election officer will issue a certification upon receipt of signatures from petitioners. The only delay that the Comelec can do, en banc, is to withhold the order to verify the gathered signatures [under Section 15 of Comelec Resolution No. 10650 s.

2020, the IRR to RA 6735],” he added.

Salceda addressed the ongoing debate about the backers of the people’s initiative, emphasizing that the focus should be on the initiative’s compliance with established requirements rather than the identity of its supporters.

He said that the law, Republic Act 6735, and its rules do not differentiate between elected politicians and regular voters when it comes to launching a people’s initiative.

Citing Supreme Court precedents, Salceda cautioned Comelec about its decision, suggesting that it might not withstand legal scrutiny.

He referred to cases such as Subic Bay Metropolitan Authority vs. Commission on Elections and Garcia vs. Comelec, where the Court advocated for a liberal construction of popular action to facilitate, rather than impede, the exercise of voters’ rights.

Earlier, Salceda said advocates of PI have already gathered more than enough signatures to push for a direct amendment of the Constitution.

He said that the support of at least 3 percent of voters in each congressional district and a minimum of 12 percent nationwide has already been gathered by PI supporters.

In fact, he said 12.1 percent of voters have signed the petition for a direct constitutional amendment.

By Malou Talosig-Bartolome @maloutalosig

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HE Phi l ippine consu l genera l in Ita ly f iled a P10-million cyber libel case against a Manila-based newspaper for allegedly “falsely” reporting that he coddled the owners of a Milan-based consultancy firm accused of duping Filipinos job seekers to Italy.

Consul General to Milan Elmer Cato filed Monday 17 counts of cyber libel against the Daily Tr ibu ne before A ngeles C it y prosecutor Oliver Garcia.

Charged were Wilfredo “Willie” Fernandez, publisher of Tribune, editors and reporters of the publication, and Filipino job applicants.

The BusinessMirror sought Fernandez for comment on the cyber libel suit, but has yet to issue a statement as of this writing.

On October 7, 2023, Tribune

Tuesday, January 30, 2024

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IPOPHL and PEZA pact upholds IP system protection in ecozones

By Andrea E. San Juan @andreasanjuan

T

HE Intellectual Property Office of the Philippines (IPOPHL) inked an agreement with the Philippine Economic Zone Authority (PEZA) to promote intellectual property (IP) protection to current and potential investors in special economic zones.

“By underlining the importance of protecting and enforcing IP rights in these areas, current and potential companies and investors can do business in the Philippines knowing their IP assets are in safe hands,” IPOPHL Director General Rowel S. Barba said.

In a statement on Mond ay, IPOPHL said B arba and PEZA Director General Tereso O. Panga signed last December a memorandum of understanding (MOU) to establish a biennial work plan to promote IP protection to current and potential investors in special economic zones.

Alongwiththeworkplan,IPOPHLsaid the two parties are set to “mainstream” IP into PEZA’s “developmental” goals by conducting knowledge orientation and

skills training to its officials and staff.

For PEZA’s part, Panga said this deal can “simplify our procedures to make it easy for our locators—those particularly applying for patents and trademarks.”

The PEZA chief said from their end, they would look into inputs from their investors.

On the other hand, Barba emphasized that IPOPHL wants “to boost the confidence of foreign direct investors where PEZA is a key player.”

“As such, our goal here is to assure investors that the Philippines is a suitable and secure destination with a strong IP system where investments are protected,” the IPOPHL chief said.

As of December 2023, PEZA reported it hosts 422 economic zones and 4,352

locator companies/projects nationwide.

Of the 422 economic zones, 300 are IT Parks and Centers; 78 Manufacturing; 24 Agro-Industrial Parks; 17 Tourism; 3 Medical Tourism.

The investment promotion agency approved P175.71 billion worth of investments in 2023, 25 percent up from the P140.70 billion investment approvals recorded in 2022.

Data from PEZA showed its top ecozone locator investments from 1995 to 2022 came from Japan, Philippines, US, Netherlands, United Kingdom, Singapore, and Korea.

In terms of product sectors, top PEZA-approved investments are into Electronics/semiconductors, IT services, and Metals/Fabricated Metal Products.

PNP reports Bagong Pilipinas’ launch peaceful, incident-free

By Rex Anthony Naval

T

HE Philippine National Police (PNP) on Monday said that the successful “Bagong Pilipinas” Kick-Off Rally held Sunday at the Quirino Grandstand, Rizal Park, Manila was peaceful and incident free.

PNP spokesperson Col. Jean Fajardo, in a statement, said 3,587 police secured the event where an estimated 400,000 individuals participated. “ The event witnessed an impressive attendance of 400,000 individuals, with the utmost priority given to the safety and security

of all participants, ensured by the deployment of 3,587 PNP personnel in the vicinity,” she added.

The PNP actively participated in the event by providing frontline services through the Serbisyo Fair.

Services offered included the issuance of Licenses to Own and Possess Firearms (LTOPF) and National Police Clearance, with the latter being provided free of charge to first-time job seekers.

Fajardo said the PNP remains unwavering in its dedication to ensuring the safety and security of all Filipinos as the country embarks on this journey toward a new and vibrant future.

The activity, led by President

Ferdinand R. Marcos Jr., revolved around the theme of “Bagong Pilipinas,” symbolizing a comprehensive approach to governance and leadership.

The Chief Executive also emphasized that Bagong Pilipinas is not merely a new partisan coalition, but an embodiment of ideals that unite Filipinos, transcending political affiliations, religious beliefs, and economic status.

It also serves as a clarion call for transformation across all sectors of society and government.

“Government must lead by example, providing a blueprint that inspires hope and promises change,” Marcos said.

The President also urged

government officials, employees, and citizens alike to rally around these principles, fostering a renewed perspective on what it means to be Filipino.

Marcos also acknowledged the pivotal role played by law enforcement and emergency responders and urged them to immediately respond to all calls of assistance.

“Sa mga pulis at bumbero, tiyakin ninyo ang agarang pagresponde sa bawat tawag at sumbong [to all police officers and firemen, make sure of your immediate response to any call for assistance],” he added.

The President also called for a reduction in crime rates, emphasizing

the collective effort required to create a safer nation.

“Ang inyong sigasig ay susuklian natin ng suporta of [your hard work will be rewarded by the provision of] ample resources to move, to communicate, and to solve the problem that we are faced with, including tools that prevent a different kind of stealing. When [the] content[s] of e-wallets is picked by cybercriminals, when their dirty hands reach our children through computer screens—we will boost the defenses of our people against criminalities. More than paying tribute to their resilience, we will provide them with resources,” Marcos stressed.

CA junks Goma’s case vs 3 cops who implicated him in the illegal drug trade of Espinosa clan

By Joel R. San Juan @jrsanjuan1573

T

HE Court of Appeals (CA) junked the administrative complaint filed by actor-turned politician Richard Gomez against several policemen who implicated him in the illegal drug trade of the Espinosa clan in Albuera municipality in Leyte.

In a 12-page decision penned by Associate Justice Eleuterio Bathan, the CA’s Thirteenth Division affirmed the June 28, 2019 decision and the resolution dated July 24, 2020 issued by the National Police Commission (Napolcom) en banc, which dismissed the administrative case for grave misconduct, dishonesty, and conduct unbecoming of a police officer against respondents Police Chief Inspector Jovie Espenido, Police Chief Inspector Leo Laraga and Police Officer 3 Hydie Yutrago for lack of substantial evidence and legal standing.

Gomez, who is now Leyte’s 4th district congressional representative, argued before the appellate court that the Napolcom committed a serious and reversible error when it ruled that he has no legal personality to move

for reconsideration of the decision exonerating the said policemen of administrative liabilities.

However, the CA upheld Napolcom’s grounds in dismissing the former actor turned lawmaker’s petition.

In explaining its decision, the CA said, “in administrative cases, appeals are extended to the party adversely affected by the decision, which refers to the government employee against whom the administrative case is filed for the purpose of disciplinary action, or the disciplining authority whose decision is in question.”

“The fact that the petitioner is the then Mayor of Ormoc City is of no moment. It is established that in administrative cases, a complainant is a mere witness. No private interest is involved in an administrative case as the offense committed is against the government,” the CA said.

“In fact, the Supreme Court has held that a private complainant in an administrative case has no right to appeal the decision of the disciplining authority,” it added.

While the Revised Rules of Procedure before the Administrative Disciplinary

Authorities and Internal Affairs Service of PNP or Napolcom Memorandum Circular No. 2016-0002 (MC No. 20160002) 24 states that the disciplinary authorities are obliged to refer to the city or municipal mayors; chiefs of police or equivalent supervisors; provincial directors or equivalent supervisors; regional directors or equivalent supervisors; People’s Law Enforcement Board (PLEB); Chief of the Philippine National Police (PNP); and the Napolcom, the CA pointed out that “it is the Napolcom that shall have primary jurisdiction over grave administrative cases defined and penalized under said rules.”

In Gomez’s case, it was the Inspection, Monitoring and Investigation Service (IMIS) of Napolcom that found probable cause to file a formal charge against the policemen.

The IMIS conducts continuous inspection and management audit of personnel, facilities and operations at all levels of command of the PNP, as well as Napolcom’s regional and field Offices; monitors the implementation of the agency’s programs and projects relative to law enforcement; and monitors and investigates police

anomalies and irregularities.

“In light of the foregoing, we find that the petitioner, therefore, lacks the legal standing to sue,” the CA said.

“Considering that the petitioner has no legal interest or standing to appeal and seek the nullification of the assailed decision and resolution exonerating the individual respondents from the administrative charge of grave misconduct, dishonesty and conduct unbecoming of a police officer, we thus find no need to delve on the merits of this case,” it added.

Gomez filed a complaint affidavit on November 16, 2016 against the policemen before the IMIS of Napolcom for grave misconduct, dishonesty, and conduct unbecoming against Espenido, Laraga and Yutrago.

Gomez accused the policemen of violating the commitment orders of Marcelo Adorco, Jose Antipuesto, Jessie Ocares and Jeffrey Pesquera who were bodyguards and employees of the Espinosas.

He also claimed that Laraga publicly named him as one of those involved in the drug trade with the Espinosa family of Albuera municipality without personal knowledge as to its veracity.

Consul General files P10-M cyber libel suit vs Tribune reporter Allan Hernandez wrote that he had “well-documented” personal exchanges with Cato since September 22 prov ing he sought Cato’s side on the complaints raised against them by the Filipinos in Italy.

Cyber libel in the Philippines is a criminal offense, punishable by imprisonment or fines.

Fraud vs Pinoys applying for jobs in Italy

AT lea st 278 Fi l ipi nos h ave c ompl a i ne d t h at t he y p a id Filipino-owned “patronato” Alpha Assistenza as much as 3,000 euros (P180,000) each to help them or their relatives secure jobs in Italy.

Two weeks ago, the Consulate filed 92 complaints of aggravated fraud against Alpha Assistenza before the Office of the Public

Prosecutor in Milan.

L a st S e pte mb e r, Tr ibu ne interviewed Filipino complainants Vanessa Antonio, Enrique Catilo, Apple Cabasi, Jeffrey Villalon and Sherwin Garing in its “Usapang OFW” Facebook live episodes. The five job seekers said the Italian Embassy in Manila denied their visa application filed by Alpha Assistenza agents.

Hernandez and publisher’s wife, Chingbee, hosted the two episodes

Consul General complaint

CATO, a former journalist-turneddiplomat, complained that the daily and its sister publication, Dyaryo Tirada, published a series of news reports accusing him of dereliction of duty and corruption for “supposedly sitting on the complaints of Filipinos” allegedly

defrauded by Alpha Assistenza SRL. The stories appeared on their website.

Cato also filed a defamation suit against the three of the complainants inter v iewed by Tribune during the Facebook vlog.

He claimed they are job applicants from the Philippines and were in no position to accuse the Consulate.

“Tribune waged a disinformation campaign against me. The allegations were fabricated and based on hearsay,” Cato said.

Tr ibu ne, he a l leged , a l so “ deliberately omitted ” in its reports official statement from t he D e pa r t me nt of Fore i g n Affairs “that would have disprove the alleged inaction that the publication kept on insisting.” “ The series of articles and commentary published by the

Tribune beginning in September were part of a narrative that was all made up to depict Consul Genera l Cato as a negligent, insensitive, incompetent, and corrupt diplomat who should be removed from his position because he is an embarrassment to the foreign service, ” Cato’s counsel Jocelyn Martinez-Clemente said in a statement.

The lawyer said Cato believes he was being dragged into the controversy because of business rivalry among Filipino-owned agencies in Milan called “patronatos.” “[Con su l G e ner a l C ato] announced intention to regulate these companies to put a stop to the exorbitant fees being charged for services rendered to Filipino clients,” Martinez-Clemente said.

Gomez also accused Espenido and Yutrago of facilitating the execution of the “ready-made” affidavits of Max Miro, Galo Stephen Bobares and Brian Anthony Gates, purported men of selfconfessed drug lord Kerwin Espinosa, son of then Albuera Municipal Mayor Rolando Espinosa Sr., assuring them that they would be placed under the Witness Protection Program of the Department of Justice.

MAP bares to-do list for licking NCR traffic crisis Continued from A14 There should be a timeline established for the “phased construction” of the new government center, according to MAP. In decongesting Metro Manila, MAP also cited the need to develop satellite communities outside the metropolis linked by rail through the NCR north and south commuter rail system; and adopt the “live, work and play” concept of development for walkable and selfsustaining communities that will not burden public transport system.

‘The MAP list also includes fully developing a Pasig River and Laguna Lake passenger ferry system with regular schedule and transfer stations for “multimodal” connectivity to jeepneys and buses; construct and implement Ro-Ro ferry ship system for passenger and cargo across Manila Bay from Cavite to Bataan, to provide an alternate route to decongest C-5, Katipunan Road and North Expressway (NLEX) and thereby bypass Metro Manila.

‘Calling it the “most cost-effective urban mass transit system,” MAP said the EDSA Busway “must urgently and expeditiously be privatized through the Public Private Partnership [PPP] model and brought to world-class standards.” “‘The Unsolicited Proposal on hand should be processed soonest so that the next step, Swiss Challenge selection, can proceed soonest,” MAP said in its statement.

‘ThegroupsaidtheBuswaySystemmust be expanded and replicated to cover other major thoroughfares like Commonwealth Avenue, Quezon Avenue, Sucat Avenue, Alabang-Zapote Road and others.

BusinessMirror

Tuesday, January 30, 2024

A6

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

ACCIONA CONSTRUCTION PHILIPPINES INC. 23/f Tower 2, The Enterprise Center Tower 2, Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

BOCARNE-ENE, ELENA Site Technician 1.

Brief Job Description: Assist the Technical Manager in underground technical issues. Managing technical issues of the CIA station, Cut and Cover and Gil Puyat underpass.

PEREZ FERNANDEZ, JOSE ANGEL Station Manager 2.

Brief Job Description: Develop the sequence of work and drive the construction schedule, ensuring that completion dates and milestones are met. Monitor subcontractors in order to ensure that the Station construction schedule is followed.

Basic Qualification: Holder of a Bachelor’s Degree in Civil Engineering, knowledgeable in Autocad, Revit, Anyss, SAP R or any similar structural design software.

3.

Brief Job Description: Execution of new projects and engagements of the business.

FANG, ZHENGWEI Chinese Speaking Marketing Consultant 4.

Brief Job Description: Prepare monthly report analysis and report status on a daily basis to Team Leads.

LI, PEIHU Chinese Speaking Marketing Consultant 5.

Brief Job Description: Prepare monthly report analysis and report status on a daily basis to Team Leads.

WU, GUANGCHENG Chinese Speaking Marketing Consultant 6.

Brief Job Description: Prepare monthly report analysis and report status on a daily basis to Team Leads.

YANG, MING Chinese Speaking Marketing Consultant 7.

Brief Job Description: Assists in managing paid advertisements campaign across multiple channels.

YOU, HUIYUAN Chinese Speaking Technical Consultant 8.

Brief Job Description: Improving system efficiency by consulting with endusers and providing innovate.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience in a senior marketing position. Good in verbal communication and written.

9.

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

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

10.

Brief Job Description: Call Chinese clients/companies to remind on payments for past due accounts. Take payments and information and other pertinent data such as address and phone numbers from Chinese client. Explain and clarify with Chinese clients on non-payment and/or other service/product issues.

LEE, WONSUB Customer Relationship Manager, Premium Services 14.

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

15.

11.

Brief Job Description: Call Chinese clients/companies to remind on payments for past due accounts. Take payments and information and other pertinent data such as address and phone numbers from Chinese client. Explain and clarify with Chinese clients on non-payment and/or other service/product issues.

Brief Job Description: Coordinates sub-contractors involved in the assembly stages. Ensures compliance with safety procedures and quality standards. Searches for the most efficient technical solutions.

CHEN, LIANZHU Field Sales Consultant 16.

Brief Job Description: The one responsible to “get the sale” using various customer sales methods.

HONG, HAIYANG Field Sales Consultant 17.

Brief Job Description: The one responsible to “get the sale” using various customer sales methods.

18.

Brief Job Description: Support financial consultants in providing excellent customer service to clients.

19.

Brief Job Description: Collaborate with management to get the business requirements and documentation of the project.

Build mock-up and database design plan for applications. Create share point team sites and manage security permissions.

WANG, CHENG Chinese Speaking Business Development Associate

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

Brief Job Description: Collating and maintaining client information.

24.

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

Basic Qualification: College graduate. With at least 1 year of proven work experience in a similar industry. With excellent customer service and communication skills.

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

DO THI ANH THUY Chinese Speaking Data Entry Clerk 25.

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

DOAN LE HOA Chinese Speaking Data Entry Clerk 26.

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

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

HUA THI LE Chinese Speaking Data Entry Clerk Basic Qualification: Can coordinate and interface between fabrication/installation and pre-fabrication activities. Able to speak and communicate using Mandarin language is an advantage. Must be willing to work on field.

27.

Basic Qualification: Can research accounts and generate or follow through sales leads, can valuate customers skills, needs and build productive longlasting relationships and can meet personal and team sales targets.

Basic Qualification: Can research accounts and generate or follow through sales leads, can valuate customers skills, needs and build productive longlasting relationships and can meet personal and team sales targets.

Basic Qualification: Must be fluent in Chinese language (writing & speaking).

LIU XIAO FANG Chinese Speaking Data Entry Clerk 28.

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

NG KAH WAI Chinese Speaking Data Entry Clerk

29.

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

THACH HOAI THUONG Chinese Speaking Data Entry Clerk

30.

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

TRAN THI THU Chinese Speaking Data Entry Clerk 31.

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

TRUONG, CONG TUAN Chinese Speaking Data Entry Clerk 32.

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

Basic Qualification: Must be fluent in English language and can speak Indian language. At least college degree holder and 2 years’ experience as application support associate in IT staffing company with Indian clients.

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

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

VI THU HOAI Chinese Speaking Data Entry Clerk 33.

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

DUONG, THANH VAN Chinese Speaking Graphic Designer 34.

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

Brief Job Description: Drafts and analyze the execution timelines and incentives.

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

20.

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

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

Basic Qualification: Preferably 6 months to 1-year experience as Collection Staff/ Finance Staff. Fluent in Mandarin and English languages.

COLLABERA TECHNOLOGIES PRIVATE LIMITED, INC. U-40 A-d, 40/f Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, City Of Makat

RAVICHANDRAN, VIGNESH Application Support Associate

QUALIFICATION AND SALARY RANGE

XU, ZHI Chinese Speaking Business Development Associate

C&I MARKETING CORPORATION 4/f 6780 Bldg., 6780 Ayala Ave., San Lorenzo, City Of Makati ZENG, BOSHENG Client Care Associate Mandarin Speaking

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

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

ZENG, XIAO Chinese Speaking Admin Associate

Basic Qualification: Preferably 6 months to 1-year experience as Collection Staff/ Finance Staff. Fluent in Mandarin and English languages.

23.

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

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

Basic Qualification: Preferably 6 months to 1-year experience as Collection Staff/ Finance Staff. Fluent in Mandarin and English languages.

Basic Qualification: Preferably 6 months to 1-year experience as Collection Staff/ Finance Staff. Fluent in Mandarin and English languages.

No.

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

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

CHEN, YANG Chinese Speaking Business Development Associate 21.

LI, XUE Mandarin Collection Officer

Brief Job Description: Assist coded patrons and provide high standard of customer service in order to generate repeat visitation. Anticipate customers’ needs and concerns to ensure maximum guest satisfaction.

CAI, DASI Booth Fabrication Specialist Consultant

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

Basic Qualification: Strong organizational and management skills including problemsolving, representational skills, excellent verbal and written skills. Selfmotivated and creative.

QUALIFICATION AND SALARY RANGE

C’EST LA VIE EVENT MANAGEMENT INC. 230, Narra Street, Marikina Heights, City Of Marikina

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

Brief Job Description: Call Chinese clients/companies to remind on payments for past due accounts. Take payments and information and other pertinent data such as address and phone numbers from Chinese client. Explain and clarify with Chinese clients on non-payment and/or other service/product issues.

ESTABLISHMENT / ADDRESS

BLOOMBERRY RESORTS AND HOTELS INC. Solaire Resort And Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

Basic Qualification: With experience in a senior marketing position. Good in verbal communication and written.

BEAUTIFUL PHILIPPINE TRAVEL AND CONSULTANCY SERVICES, INC. Unit Ug-50 Cityland Dela Rosa Condo., Dela Rosa St., Pio Del Pilar, City Of Makati

HUANG, LIPING Mandarin Collection Officer

13.

Basic Qualification: With experience in a senior marketing position. Good in verbal communication and written.

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

Brief Job Description: Call Chinese clients/companies to remind on payments for past due accounts. Take payments and information and other pertinent data such as address and phone numbers from Chinese client. Explain and clarify with Chinese clients on non-payment and/or other service/product issues.

ZHAO, YOUQIAN Mandarin Collection Officer

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

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

TANG, HAO Supply Chain Manager

12.

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

ACE VELOCITY CONSULTANCY INC. Unit 406 4/f Vicente Madrigal Bldg., 6793 Ayala Ave., Bel-air, City Of Makati MA, FENGNING Chinese Speaking Business Consultant

YANG, JINLONG Mandarin Collection Officer

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Holder of a Bachelor’s Degree in Mechanical Engineering. With at least 15 years of work experience in the construction industry.

Proficient in both Spanish and English languages.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

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

ONG KEAN KOK Chinese Speaking Business Development Associate 22.

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

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

35.

NGUYEN THU THAO Chinese Speaking Graphic Designer Brief Job Description: Perform retouching and manipulation of images.

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

Strong organization and project management skills.

TRAN, THI DUYEN Chinese Speaking Graphic Designer 36.

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

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

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

VI, VAN DAT Chinese Speaking Graphic Designer 37.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

38.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHENG, HONGYOU Chinese Speaking Graphic Designer Brief Job Description: Perform retouching and manipulation of images.

AARON TOH SZE RON Chinese Speaking Program Designer 39.

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

CHEN, XIAOHANG Chinese Speaking Program Designer 40.

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

CHENG, QI Chinese Speaking Program Designer 41.

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

CHIN KWAK YIN Chinese Speaking Program Designer

42.

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

GAIN, DEBABROTA Chinese Speaking Program Designer 43.

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

HOANG HAI MI Chinese Speaking Program Designer 44.

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

JULIYANTO Chinese Speaking Program Designer 45.

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

LEE CHUNE SIANG Chinese Speaking Program Designer 46.

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

LI, WANYONG Chinese Speaking Program Designer

47.

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

MA, YING Chinese Speaking Program Designer

48.

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

PEI, CHAO Chinese Speaking Program Designer

49.

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

TANG, JUNJIE Chinese Speaking Program Designer 50.

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

TRAN, THI HUONG Chinese Speaking Program Designer 51.

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

WANG, LIMING Chinese Speaking Program Designer 52.

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

WILSON WIRAWAN Chinese Speaking Program Designer 53.

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

YONG LEE ZHAO LOONG Chinese Speaking Program Designer 54.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

No.

ZENG, ZHIFEI Chinese Speaking Program Designer 55.

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

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

AUNG NAING LIN Chinese Speaking Customer Financial Officer 56.

57.

58.

59.

60.

61.

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

LI, FUCHENG Chinese Speaking Data Entry Clerk 62.

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

MA, SI Chinese Speaking Data Entry Clerk 63.

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

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

ZHAO, JING Chinese Speaking Business Development Associate

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

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

LIU, SHUANGYU Chinese Speaking Business Development Associate

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

Brief Job Description: Responsible for many clerical tasks to ensure the staff can communicate.

LINH TU CUONG Chinese Speaking Business Development Associate

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

Brief Job Description: Responsible for many clerical tasks to ensure the staff can communicate.

YAO, JUNYANG Chinese Speaking Admin Associate

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

Brief Job Description: Processing the payments and withdrawals of customers.

WU, HUILING Chinese Speaking Admin Associate

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

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

NIM NGOC PHUONG Chinese Speaking Data Entry Clerk 64.

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

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

WU, FENG Chinese Speaking Data Entry Clerk 65.

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

66.

67.

68.

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

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

WANG, YING Chinese Speaking Graphic Designer 69.

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

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

LUAN, YIDONG Chinese Speaking Graphic Designer

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

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

ZHENG, ZHI Chinese Speaking Data Entry Clerk

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

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

ZHANG, XU Chinese Speaking Data Entry Clerk

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

QUALIFICATION AND SALARY RANGE Basic Qualification: With experience in computer aided design.

Good in verbal and written communication.

No.

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

71.

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

LI, MENG Chinese Speaking HR Associate 70.

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

72.

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

ZHAN, NI Chinese Speaking Program Designer 73.

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

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience in computer aided design.

Good in verbal and written communication.

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

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

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

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

QU, JINLONG Chinese Speaking Program Designer

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION QIN, YUFENG Chinese Speaking HR Associate

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

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

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

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

A7

ESTABLISHMENT / ADDRESS

DA PROSPERITAS HOLDING INC. 2/f National Life Insurances Bldg., 6762 Ayala Ave., San Lorenzo, City Of Makati

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Tuesday, January 30, 2024

ELITA Marketing And Sales Agent 74.

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

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

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

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

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

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

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

GAO, WEI Marketing And Sales Agent 75.

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

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

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

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

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

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

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

GUO, XIAOSHENG Marketing And Sales Agent 76.

Salary Range: Php 30,000 - Php 59,999 GH EXCELLENT CONSTRUCTION DEVELOPMENT CORPORATION Unit 1709 One Park Drive 9th Avenue Corner 11th Drive, Bonifacio Global City, Fort Bonifacio, City Of Taguig

77.

Brief Job Description: Serves as a departments 2nd in command.

GLARION TECHNOLOGIES CORPORATION 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

BUI, QUANG MINH Customer Service Representative 78.

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

BUI, VAN TU Customer Service Representative 79.

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

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

WANG, XIAOCHEN Assistant Project Supervisor

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

CHEN, ZHONGMEI Customer Service Representative 80.

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

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

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

CHOEDKO, KETKAN Customer Service Representative 81.

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

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

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

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

CHU, THI THU HA Customer Service Representative 82.

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

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

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

Basic Qualification: Knowledgeable in organizational effectiveness and operations management.

Preferably can speak and write in Chinese language.

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

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

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

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

DANG THI LOAN Customer Service Representative 83.

Brief Job Description: Support 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 languages.

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 languages.

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 languages.

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 languages.

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 languages.

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 languages.

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

A6 A8

BusinessMirror

Tuesday, January 30, 2024

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

DENSOM, SUDARAT Customer Service Representative 84.

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

DO, HONG QUANG Customer Service Representative 85.

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

DOAN, NGUYEN MAI CA Customer Service Representative 86.

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

HOANG, TIEN DAT Customer Service Representative 87.

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

HOANG, VAN THANH Customer Service Representative 88.

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

KANGKORN, SUSAMA Customer Service Representative 89.

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

LE, QUOC VIET Customer Service Representative 90.

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

LE, TIEN THIEN Customer Service Representative 91.

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

LY, VAN QUANG Customer Service Representative 92.

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

NGUYEN KHAC THANH Customer Service Representative 93.

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

NGUYEN VAN ANH Customer Service Representative 94.

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

NGUYEN, HOANG TRONG Customer Service Representative 95.

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

NGUYEN, THE THI Customer Service Representative 96.

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

NGUYEN, THI HANG Customer Service Representative 97.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate/ level, preferably with customer service or sales experience, fluent in Mandarin and basic English languages.

No.

NGUYEN, VAN LONG Customer Service Representative 98.

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 languages.

99.

100.

101.

102.

103.

104.

105.

106.

107.

108.

109.

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

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

TRUONG CONG HUNG Customer Service Representative 110.

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 languages.

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

TRINH, THANH KHAI Customer Service Representative

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 languages.

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

TRAN THI THUY Customer Service Representative

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 languages.

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

TRAN NHU QUYNH Customer Service Representative

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 languages.

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

THONGSRISOMBUN, THANADOL Customer Service Representative

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 languages.

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

RATTANATRIPAKDEE, THUNYARATH Customer Service Representative

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 languages.

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

QI, LIANGYU Customer Service Representative

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 languages.

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

PHUNG, TON NHAY Customer Service Representative

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 languages.

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

PHAM VAN CHIEN Customer Service Representative

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 languages.

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

PHAM DINH PHUOC Customer Service Representative

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 languages.

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

PANKAEO, KITTISAK Customer Service Representative

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 languages.

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

PAKADTANG, KANOKPORN Customer Service Representative

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 languages.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

VU, THE ANH Customer Service Representative 111.

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

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate/ level, preferably with customer service or sales experience, fluent in Mandarin and basic English languages.

No.

VUONG VAN THO Customer Service Representative 112.

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 languages.

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

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

VY VAN TUAN Customer Service Representative 113.

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 languages.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

WU, HOUTANG Channel Finance Specialist 114.

Brief Job Description: Conduct insight analysis on the macro environment, market, channel partners, and competitors. Evaluate channel partners’ operating status.

SUN, JIAZHEN Finance Specialist For Enterprise Business Finance Management 115.

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

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 languages.

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 languages.

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 languages.

116.

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 languages.

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

Basic Qualification: Must have at least 5 years of work experience as financial specialist for sales and account management. Has 4 years of experience in mathematical statistics analysis and 3 years of experience in financial analysis.

Basic Qualification: Must have at least 3 years of work experience as financial specialist for operation and management of enterprise business. Has mastered various company processes and execution of operation and management.

Proficient in the operation of the various financial software system.

Brief Job Description: Design and implement transformational solutions improvements, using Process Excellence methodologies, digitization, automation and optimization.

Basic Qualification: MBA holder. With proven track record in process excellence and automation leadership role.

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

KITAL PHILIPPINES CORPORATION Unit 605, 607 & 601 The Taipan Place, Don F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

GUTHARTZ, MORDECHAI President, Chairman And General Manager 117.

Brief Job Description: Plan, develop, organize, implement and evaluate the corporations’ plans and programs. Develop and manage company’s assets to maximize the overall potential for growth and effectiveness of the organization.

Basic Qualification: Electronics communications engineering graduate.

Provide leadership and support to staff and oversee the financial and performance goals of the organization.

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

MANILA PENINSULA HOTEL, INC. Ayala Ave., Makati Ave., San Lorenzo, City Of Makati TSANG, CHING YUEN Managing Director 118.

Brief Job Description: Formulate the overall business plan and ensure its implementation in order to achieve return on investment targets. Oversee the appointment, direction and control of key functional and operational executives in their achievement.

Basic Qualification: College graduate. With thorough knowledge in overall development operations of a hotel.

Salary Range: Php 500,000 and above

MARKETROLE ASIA PACIFIC SERVICES, INC. 27/f & 28/f The Enterprise Center Tower 1, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

HOANG, NGOC DU Customer Service Representative 119.

Brief Job Description: Provide outstanding and exceptional customer service.

NGUYEN THIEU VU Customer Service Representative 120.

Brief Job Description: Provide outstanding and exceptional customer service.

TRAN GIA HUY Customer Service Representative 121.

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 languages.

Brief Job Description: Participate in the operation and management of Huawei’s enterprise business on financial management. Monthly make forecasting for enterprise business to ensure target achievement and adjust resource investment.

DUGGAL, ASHISH Global Process Excellence Lead

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 languages.

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

JNTL CONSUMER HEALTH (PHILIPPINES) INC. Km. 14, Edison Road, Merville, City Of Parañaque

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 languages.

Basic Qualification: College graduate/ level, preferably with customer service or sales experience, fluent in Mandarin and basic English languages.

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

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 languages.

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

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

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 languages.

Basic Qualification: College graduate/ level, preferably with customer service or sales experience, fluent in Mandarin and basic English languages.

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

Basic Qualification: College graduate/ level, preferably with customer service or sales experience, fluent in Mandarin and basic English languages.

Basic Qualification: College graduate/ level, preferably with customer service or sales experience, fluent in Mandarin and basic English languages.

QUALIFICATION AND SALARY RANGE

Brief Job Description: Provide outstanding and exceptional customer service.

TRAN, LE ANH TUAN Customer Service Representative 122.

Brief Job Description: Provide outstanding and exceptional customer service.

VU, VAN SOAI Customer Service Representative 123.

Brief Job Description: Provide outstanding and exceptional customer service.

WANG, ZHIGANG Customer Service Representative 124.

Brief Job Description: Provide outstanding and exceptional customer service.

Basic Qualification: Can speak Chinese/ Mandarin language fluently.

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

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

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

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

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

Basic Qualification: Can speak Chinese/ Mandarin language fluently.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION YANG, DINGTAO Customer Service Representative

125.

Brief Job Description: Provide outstanding and exceptional customer service.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Can speak Chinese/ Mandarin language fluently.

No.

NGUYEN THI PHUONG DUNG Chinese Speaking Data Entry Clerk 141.

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

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque CHEN, CAIMEI Chinese Speaking Business Development Associate 126.

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

LI, YONGCHAO Chinese Speaking Business Development Associate 127.

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

MA DANG LINH Chinese Speaking Business Development Associate 128.

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

NGUYEN SINH QUAN Chinese Speaking Business Development Associate 129.

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

NGUYEN THI MAI Chinese Speaking Business Development Associate 130.

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

PHAM THI TRUYEN Chinese Speaking Business Development Associate 131.

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

PHYU PHYU KYAW Chinese Speaking Business Development Associate 132.

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

TRAN THI THU Chinese Speaking Business Development Associate 133.

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

ZHANG, ZIQIAN Chinese Speaking Business Development Associate 134.

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

CHU THI PHUONG Chinese Speaking Data Entry Clerk 135.

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

HO THI DOAI Chinese Speaking Data Entry Clerk 136.

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

LI, CHONGBIN Chinese Speaking Data Entry Clerk 137.

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

LIU, CHENGJU Chinese Speaking Data Entry Clerk 138.

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

LY THAI NAM Chinese Speaking Data Entry Clerk 139.

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

NGUYEN THI HUYEN TRANG Chinese Speaking Data Entry Clerk 140.

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

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

142.

143.

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

144.

145.

146.

147.

148.

Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal and written communication.

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

149.

150.

151.

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

ZHOU, PENG Chinese Speaking Graphic Designer 152.

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

BAI, TAO Chinese Speaking Program Designer 153.

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

HUANG, DAN Chinese Speaking Program Designer

154.

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

NONG HONG DUYEN Chinese Speaking Program Designer

155.

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

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

NONG, THI NGHE Chinese Speaking Graphic Designer

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

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

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

MYINT MYINT THAN Chinese Speaking Graphic Designer

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

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

LI, JIAYI Chinese Speaking Graphic Designer

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

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

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

DUONG, QUANG NAM Chinese Speaking Graphic Designer

Basic Qualification: Excellent written and verbal communication skills. Strong organization and project management skills.

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

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

DENG, DONGXU Chinese Speaking Graphic Designer

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

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

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

VONG CUN LAN Chinese Speaking Data Entry Clerk

Basic Qualification: Excellent written and verbal communication skills. Strong organization and project management skills.

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

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

VONG ANH PHAT Chinese Speaking Data Entry Clerk

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

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

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

TRUONG THI TUOI Chinese Speaking Data Entry Clerk

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

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

THONG CAI TOAN Chinese Speaking Data Entry Clerk

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

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

NONG VAN THIET Chinese Speaking Data Entry Clerk

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

SIN CAY KHOANH Chinese Speaking Program Designer

156.

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

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

VU THI HONG THAI Chinese Speaking Program Designer Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team.

Tuesday, January 30, 2024

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

No.

158.

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

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

159.

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

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

160.

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

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

161.

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

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

162.

Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal and written communication.

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

163.

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

164.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CHEN, SHIQIANG Chinese Customer Service Brief Job Description: Customer support and data base services.

DENG, XIAOLI Chinese Customer Service Brief Job Description: Customer support and data base services.

DONG, TONGLIN Chinese Customer Service Brief Job Description: Customer support and data base services.

LI, JUNJIU Chinese Customer Service Brief Job Description: Customer support and data base services.

WANG, LIANG Chinese Customer Service Brief Job Description: Customer support and data base services.

HENDRY ANTONI Indonesian Customer Service Brief Job Description: Customer support and data base services.

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

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

165.

VENNY SOFIANA Indonesian Customer Service Brief Job Description: Customer support and data base services.

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

166.

HAN, JUNGWON Korean Customer Service Brief Job Description: Customer support and data base services.

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

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

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

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

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

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

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

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

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

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

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

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

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

167.

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

168.

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

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

169.

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

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

170.

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

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

171.

UM, JIHWAN Korean Customer Service Brief Job Description: Customer support and data base services.

LIEW YAU CHENG Malaysian Customer Service Brief Job Description: Customer support and data base services.

LIM HUAT CHOON Malaysian Customer Service Brief Job Description: Customer support and data base services.

SAW TZU YANG Malaysian Customer Service Brief Job Description: Customer support and data base services.

KYAR SHAN Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal and written communication.

157.

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

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque

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

172.

ZAW MIN TUN Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

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

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

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

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

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

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

NORTH TIDE INTERNATIONAL TRADE INC. 2nd Floor Bachrach Bldg. Ii, Corner 23rd And Railroad Streets Zone 68, Barangay 653, Port Area, City Of Manila

A9

BusinessMirror

A10 A6 Tuesday, January 30, 2024

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TAO, JINYONG Customer Service Representative

173.

Brief Job Description: Serves customers by providing product and service information and resolving product and service problems.

CHEN, YAN Manager

174.

Brief Job Description: Hires and trains employees, help develop and implement business strategies, and perform a variety of other tasks to ensure the business is thriving.

WANG, NAIKE Manager

175.

Brief Job Description: Hires and trains employees, help develop and implement business strategies, and perform a variety of other tasks to ensure the business is thriving.

WEI, SHAOQING Manager

176.

Brief Job Description: Hires and trains employees, help develop and implement business strategies, and perform a variety of other tasks to ensure the business is thriving.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate, at least 1 year of work experience and with good communication skills.

Basic Qualification: At least 1 year of work experience in the position, strong analytical and problem-solving skills.

177.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades and returns and frequently provide advice and technical assistance as well.

DENNY HARTANTO Customer Service Representative

178.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades and returns and frequently provide advice and technical assistance as well.

HENDY Customer Service Representative

179.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

HSU, CHUN-WEI Customer Service Representative

180.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades and returns and frequently provide advice and technical assistance as well.

HU, PENGXIANG Customer Service Representative

181.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

LAO SAY DIN Customer Service Representative

182.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades and returns and frequently provide advice and technical assistance as well.

LIU, LITING Customer Service Representative

183.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

LU, LINGFANG Customer Service Representative

184.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

LY THUAN Customer Service Representative

185.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades and returns and frequently provide advice and technical assistance as well.

MA, HUIFANG Customer Service Representative

186.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

PENG, BO Customer Service Representative

187.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

QIAN, GUOQING Customer Service Representative

188.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

VALENCIA SILVIA Customer Service Representative

189.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

190.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least 1 year of work experience in the position, strong analytical and problem-solving skills.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

ZHONG, JING Customer Service Representative

191.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least 1 year of work experience in the position, strong analytical and problem-solving skills.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ZHENG, SHUANG Customer Service Representative

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

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

ANDY SATRIA BUDI Indonesian Language - Support Officer 192.

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

JHENSEN STEVEN Indonesian Language - Support Officer

193.

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

JOFAN CHANDRA Indonesian Language - Support Officer

194.

Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

195.

196.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

197.

198.

199.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

200.

201.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

Brief Job Description: Create specific promotions for affiliates.

TRAN THI LAM PHUONG Vietnamese Language - Marketing Officer Brief Job Description: Create specific promotions for affiliates.

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

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

CHO, JEUNGGI Quality Assurance 202.

Brief Job Description: Identify game content that might require revision and ensure the quality of content that suits the users’ preferences.

Basic Qualification: Must fluently speak and write in Indonesian language.

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

203.

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers.

ATONG, BRICE KENWA French Operations CSR V

204.

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers.

BANFOGHA, EUNICE WIRKOM French Operations CSR V

205.

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers.

BIH, CHRISTINA NDOH French Operations CSR V

206.

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers.

EKOME OYE, SAINT GERARD TANGUY French Operations CSR V

207.

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers.

MABOSO, DIVINE ESE-BOBUTU French Operations CSR V

208.

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers.

209.

210.

211.

212.

213.

214.

215.

216.

217.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Skilled in French language.

Brief Job Description: Conduct market speech to identify current trends and benchmark competitor offerings.

Brief Job Description: Preparing reports and marketing presentations and developing strategies and goals.

WANG, JIAN Chinese Speaking Brand Marketing Specialist 218.

Brief Job Description: Develop marketing contents to create the brand’s identity and increase sales.

WANG, XIN Chinese Speaking Brand Marketing Specialist 219.

Brief Job Description: Develop marketing content to create the brand’s identity and increase sales.

ZHANG, LIPING Chinese Speaking Brand Marketing Specialist 220.

Basic Qualification: Skilled in French language.

Basic Qualification: Skilled in Cameroonian language.

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

WANG, HONGWEI Chinese Speaking Brand Marketing Specialist

Basic Qualification: Skilled in French language.

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

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

TAN, TING Chinese Speaking Brand Marketing Specialist

Basic Qualification: College graduate. With extensive knowledge of programming languages.

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

Basic Qualification: College graduate. With at least 1 year of relevant work experience in a related industry.

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

Basic Qualification: Bachelor’s degree in business or related field of study. Excellent communication skills. He/ she should possess integrity and probity.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study. Excellent communication skills. He/ she should possess integrity and probity.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study. Excellent communication skills. He/ she should possess integrity and probity.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study. Excellent communication skills. He/ she should possess integrity and probity.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study. Excellent communication skills. He/ she should possess integrity and probity.

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

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

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

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

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

ZHENG, QIN Service And Parts Director

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

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

RIZKI PEBRIANA Service And Parts Director

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

Basic Qualification: Must fluently speak and write in Vietnamese language.

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

JUDY DWIPUTRA SENDUK Service And Parts Director

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

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

Brief Job Description: Responsible for all areas of operation of the company, support all HR and Administrative functions, implement rules and regulations set by the company, and keep all records safely and well maintained.

FILAH ALFI SYAHRIN Service And Parts Director

Basic Qualification: Must fluently speak and write in Cambodian language.

Basic Qualification: Must fluently speak and write in Vietnamese language.

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

EDWARDUS HIA Service And Parts Director

Basic Qualification: Must fluently speak and write in Indonesian language.

Basic Qualification: Must fluently speak and write in Vietnamese language.

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers.

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

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

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

Basic Qualification: Skilled in French language.

WU, YANFANG Administrative Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write in Indonesian language.

QUALIFICATION AND SALARY RANGE

TRIPLE J GO’S CONSTRUCTION AND MACHINERY INC. N 1803 A Vasquez St., Corner Julio Nakpil St., Barangay 697, Malate, City Of Manila

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write in Indonesian language.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION MASENGO, YVON KABWE French Operations CSR V

Basic Qualification: Must fluently speak and write in Indonesian language.

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig MOPETE, SOON-MI NDAMUSO French Operations CSR III

No.

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

QROAD PHILIPPINES INC. Unit 105, Skyway Twin Towers Condo., 351 Capt. H Javier St., Oranbo, City Of Pasig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

TRAN THI BICH TRAM Vietnamese Language - Marketing Officer

NGUYEN THI HANG Vietnamese Language - Support Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

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

HOANG KIM NGOC NHI Vietnamese Language - Support Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

Brief Job Description: Identifies issues and gaps in current processes or documents.

SENG, CHHENG LIAN Khmer Language - Support Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

Brief Job Description: Identifies issues and gaps in current processes or documents.

IWAN Indonesian Language - Support Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

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

ERWIN LIUSWANDI Indonesian Language - Support Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, and proficient in relevant computer applications.

ESTABLISHMENT / ADDRESS

PHOENIXFIELD, INC. 7/f Iacademy Plaza, 324 Sen. Gil Puyat Ave, Bel-air, City Of Makati

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

OCEAN MIGHT SUPPORT MANAGEMENT INC. 33/f Tower 6789, Ayala Ave., Bel-air, City Of Makati 32/f Tower 6789, Ayala Ave., Bel-air, City Of Makati CHALLEA Customer Service Representative

No.

www.businessmirror.com.ph

Brief Job Description: Develop marketing content to create the brand’s identity and increase sales.

CHEN, XINWANG Chinese Speaking Sales Marketing Specialist 221.

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

Basic Qualification: Have excellent verbal and written communication skills. With work experience as brand marketing specialist.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With work experience as brand marketing consultant for experienced senior marketing position.

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

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

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

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

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

*Date Generated: Jan 29, 2024 In the ad material of Notice of Filing of Application for Alien Employment Permits published on January 23, 2024, the salary range of SATHIRAKAWINSKUL, MONSINEE under the company OPELLA HEALTHCARE PHILIPPINES INC., should have been read as Php 500,000 and above and not as published.

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

In the ad material of Notice of Filing of Application for Alien Employment Permits published on January 26, 2024, the name SHAKEEL AHMED LAEEQUE HAMED under the company DATAMATICS GLOBAL SERVICES CORP., should have been read as SHAKEEL AHMED LAEEQUE AHMED and not as published.

Basic Qualification: Skilled in French language.

In the ad material of Notice of Filing of Application for Alien Employment Permits published on January 26, 2024, the position of SYED BADURUDEEN, SYED SHAMSUDEEN under the company GE POWER PHILIPPINES INC., should have been read as BOP E COMMISSIONING SUPERVISOR and not as published.

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

Basic Qualification: Skilled in French language.

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

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLENCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

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

TheWorld BusinessMirror

Tuesday, January 30, 2024 A11

South China Sea tensions, Myanmar violence top agenda for Asean envoys meeting in Laos

By David Rising

The Associated Press

L ISRAELI police detain a man during a demonstration calling for new elections, frustrated with the government’s failure to bring all hostages held in the Gaza Strip by the Hamas militant group and demanding a cease-fire in Tel Aviv, Israel on Saturday, January 27, 2024. AP/ARIEL SCHALIT

Cease-fire talks with US, Qatar, Egypt show promise, but Israel notes ‘significant gaps’

By Najib Jobain, Wafaa Shurafa & Melanie Lidman The Associated Press

R

AFAH, Gaza Strip —Israel said “significant gaps” remain after cease-fire talks Sunday with the United States, Qatar and Egypt but called them constructive and said they would continue in the week ahead, a tentative sign of progress on a potential agreement that could see Israel pause military operations against Hamas in exchange for the release of remaining hostages.

The US announced its first military deaths in the region since the war began and blamed Iran-backed militants for the drone strike in Jordan that killed three American service members amid concerns about a wider conflict.

The statement from Israeli Prime Minister Benjamin Netanyahu’s office on the cease-fire talks did not say what the “significant gaps” were. There was no immediate statement from the other parties.

The war has killed more than 26,000 Palestinians, according to local health officials, destroyed vast swaths of Gaza and displaced nearly 85 percent of the territory’s people. Israel says its air and ground offensive has killed more than 9,000 militants, without providing evidence. The October 7 Hamas attack in southern Israel killed about 1,200 people, mostly civilians, and militants took about 250 hostages.

With Gaza’s 2.3 million people in a deepening humanitarian crisis, the United Nations secretary-general called on the United States and others to resume funding the main agency providing aid to the besieged territory, after Israel accused a dozen employees of taking part in the Hamas attack that ignited the war.

Communications Director Juliette Touma warned that the agenc y for Palestinian refugees, known as UNRWA, would be forced to stop its support in Gaza by the end of February.

Cease-fire talks to continue

SUNDAY’S intelligence meeting included CIA Director Bill Burns, the head of Israel’s Mossad intelligence agency, David Barnea, Qatari Prime Minister Mohammed bin Abdulrahman Al Thani, and Egyptian intelligence chief Abbas Kamel.

Ahead of the meeting, two senior Biden administration officials said US negotiators were making progress on a potential agreement that would play out over two phases, with the remaining women, elderly and wounded hostages to be released in a first 30-day phase. It also would call for Israel to allow more humanitarian aid into Gaza. The officials requested anonymity to discuss the ongoing negotiations.

More than 100 hostages, mainly women and children, were released in November in exchange for a weeklong cease-fire and the release of 240 Palestinians imprisoned

by Israel.

Israeli Defense Minister Yoav Gallant, speaking to troops, said that “these days we are conducting a negotiation process for the release of hostages” but vowed that as long as hostages remain in Gaza, “we will intensify the (military) pressure and continue our efforts—it’s already happening now.”

At least 17 Palestinians were killed in two Israeli airstrikes that hit apartment buildings in central Gaza, according to an Associated Press journalist who saw the bodies at a local hospital. One hit a building in Zawaida, killing 13 people, and the other an apartment block in the Nuseirat refugee

camp, killing four.

Also Sunday, 10 Palestinians were killed in a strike that hit a residential building in the Shati refugee camp in Gaza City, said Dr. Moataz Harara, a physician at Shifa Hospital, where the dead were taken.

Israel’s militar y said troops were engaging in close combat with Hamas in neighborhoods of the southern city of Khan Younis, Gaza’s second largest.

US deaths highlight regional tensions

THE three deaths announced by Biden were the first US fatalities in months of strikes against American forces across the Middle East by Iranian-backed militias amid the war in Gaza. US Central Command said 25 service members were injured.

US officials were working to conclusively identify the group responsible for the attack, but assessed that one of several Iranian-backed groups was responsible.

Jordanian state television quoted a government spokesperson as contending the attack happened across the border in Syria. US officials insisted it took place in Jordan, which US troops have long used as a basing point.

The US in recent months has struck targets in Iraq, Syria and Yemen to respond to attacks on American forces and to deter Iranian-backed Houthi rebels from continuing to threaten commercial shipping in the Red Sea. The war in Gaza has sparked concerns about a regional conflict. The United States, Israel’s closest ally, has increasingly called for restraint in Gaza and for more humanitarian aid to be allowed into the territory while supporting the offensive.

A Gaza lifeline at risk of ‘collapse’

UM Secretary-General Antonio Guterres said “the abhorrent alleged acts” of staff members accused in the October 7 attack “must have consequences,” but added the agency should not be penalized by the withholding of funding, and “the dire needs of the desperate populations they serve must be met.”

The United States, the agency’s largest donor, cut funding over the weekend, followed by eight other countries including Britain and Germany. Together, they provided nearly 60 percent of UNRWA’s budget in 2022.

Guterres said that of the 12 employees accused, nine were immediately terminated, one was confirmed dead and two were still being identified. He said they would be held accountable, including through criminal prosecution.

UNRWA provides basic services for Palestinian families who fled or were driven out of what is now Israel during the 1948 war surrounding the country’s creation.

The refugees and their descendants are the majority of Gaza’s population.

Since the war began, most of the territory’s 2.3 million people depend on the agency’s programs for “sheer survival,” including food and shelter, UNRWA Commissioner-General Philippe Lazzarini said.

A quarter of Gaza’s population is facing starvation as fighting and Israeli restrictions hinder the delivery of aid, which has been well below the daily average of 500 trucks before the war.

Shurafa reported from Deir al-Balah, Gaza Strip, and Lidman from Jerusalem. Aamer Madhani, Matthew Lee and Zeke Miller in Washington contributed to this report.

UANG PRABANG, Laos—China’s growingly assertive posture in the South China Sea and escalating violence in Myanmar topped the agenda for Southeast Asian diplomats meeting in Laos on Monday.

The gathering is the first highlevel meeting of the Association of Southeast Asian Nations since Laos took over the rotating chairmanship.

The diplomats for the 10 nations with a combined population of nearly 650 million and GDP of more than $3 trillion will work to strategize on issues of regional peace, security and stability. They were also discussing economic cooperation and other issues under the year’s theme “enhancing connectivity and resilience.”

Of the Asean member nations, Indonesia, Thailand, Singapore, Philippines, Vietnam, Malaysia, Myanmar, Cambodia, Brunei and Laos, several have competing maritime claims in the South China Sea with China.

China claims virtually the entire South China Sea, through which an estimated $5 trillion in international trade passes each year, which has led it into direct confrontations, most notably with the Philippines and Vietnam.

The Asean meeting in the historic city of Luang Prabang comes on the same day that Philippine President Ferdinand Marcos Jr. was to be meeting with top officials in Hanoi, among other things to discuss the ongoing tensions in the South China Sea. The Philippines has been looking for more support from its Asean neighbors, amid increasingly tense hostilities with China, primarily off of the Second Thomas Shoal, which many worry could escalate into a

REPRESENTATIVES pose for a group photo during the Association of Southeast Asian Nations Foreign Ministers retreat meeting in Luang Prabang, Laos on Monday, January 29, 2024.

From left, Myanmar’s Asean Permanent Secretary Marlar Than Htike, Philippine Foreign Undersecretary Theresa Lazaro, Singapore’s Foreign Minister Vivian Balakrishnan, Thai Foreign Minister Parnpree Bahiddha-Nukara, Vietnam’s Foreign Minister Bui Thanh Son, Laos’ Foreign Minister Saleumxay Kommasith, Malaysian Foreign Minister Mohamad Hasan, Brunei’s Second Foreign Minister Erywan Yusof, Cambodia’s Foreign Minister Sok Chenda Sophea, Indonesian Foreign Minister Retno Marsudi, East Timor’s Foreign Minister Bendito dos Santos Freitas and Asean Secretary-General Kao Kim Hourn. AP/SAKCHAI LALIT broader armed conf lict that could involve Washington, Manila’s longtime treaty ally.

The Philippine government protested the Chinese coast guard’s use of water cannon, a military-grade laser and dangerous blocking maneuvers that had caused minor collisions off the Philippine-occupied shoal.

China and Asean agreed in 2012 to a declaration on conduct in the South China Sea, seeking to “enhance favorable conditions for a peaceful and durable solution of differences and disputes,” but there has been little sign of adherence to that in recent years.

Under last year’s chair, Indonesia, Asean agreed with China on guidelines to accelerate negotiations for a South China Sea code of conduct, but that has yet to produce results.

With communist Laos’ close ties with neighboring China, and the fact that it is landlocked so it has no South China Sea claims of its own, many have been skeptical that it will be able to achieve any breakthrough

during its year as Asean chair.

A draft copy of Laos’ final statement to be issued later Monday, obtained by The Associated Press, makes no direct mention of China’s claims, but does stress several times the need to respect the United Nations convention on the law of the sea.

Under that convention, a UNb a c k e d t r i bu n a l r u le d i n 2016 that China’s expansive claims in the South China Sea on historical grounds were invalid and that Beijing had violated the right of Filipinos to fish in the shoal.

China has refused to participate in the arbitration, rejected its outcome and continues to defy it.

In its statement, Laos says Asean discussed concerns “of the land reclamations, activities, serious incidents in the area, including actions that put the safety of all persons at risk,” and “emphasized the importance of non-militarization and self-restraint in the conduct of all activities by claimants.”

Laos is the first Asean country that shares a border with Myanmar to serve as chair since the military seized control of the country in February 2021 from the democratically elected government of Aung San Suu Kyi. Asean has developed a “Five-Point Consensus” plan for peace, which calls for the immediate cessation of violence, a dialogue among all concerned parties, mediation by an Asean special envoy, provision of humanitarian aid through Asean channels, and a visit to Myanmar by the special envoy to meet all concerned parties.

The military leadership in Myanmar has so far ignored the plan. At the same time, a humanitarian crisis is growing, with more than 2.6 million people forced from their homes due to escalating violence, according to the United Nations.

Laos has already sent its special envoy to Myanmar for meetings with the head of the ruling military council and other top officials in an attempt to make progress on the five-point consensus.

Myanmar has been prohibited from sending its foreign minister or any political representative to the Asean meetings since the end of 2021 when it blocked the group’s envoy from meeting with Suu Kyi. It is represented in Luang Prabang by a non-political Foreign Ministry official instead.

In the draft of its final statement, Laos called Myanmar an “integral part of Asean” and said the group was committed to “assisting Myanmar in finding a peaceful and durable solution to the ongoing crisis” through the implementation of the five-point consensus.

The Associated Press journalist Jim Gomez in Manila, Philippines, contributed to this story.

Hong Kong court orders China Evergrande to liquidate after plan for $300B debt fails

By Kanis Leung & Zen Soo The Associated Press

H

ONG KONG—A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden.

China Evergrande Group is one of the biggest of a series of Chinese developers that have collapsed since 2020 under official pressure to rein in surging debt the ruling Communist Party views as a threat to China’s slowing economic growth.

But a crackdown on excess borrowing has tipped the property industry into crisis, making it a drag on the economy, as scores of other developers ran into trouble, their predicaments rippling through financial systems in and outside China.

Global financial markets were rattled earlier by fears an Evergrande could cause global shockwaves. But Chinese regulators said risks could be contained. Only a few billion dollars of Evergrande’s debt was owed

to foreign creditors.

Judge Linda Chan said it was appropriate for the court to order Evergrande to wind up its business given a “lack of progress on the part of the company putting forward a viable restructuring proposal” as well as Evergrande’s insolvency.

It’s unclear how the liquidation order will affect China’s financial system. Evergrande’s Hong Kong-traded shares plunged nearly 21 percent early Monday before they were suspended from trading. But Hong Kong’s benchmark Hang Seng index was up 0.9 percent and other property developers saw gains in their share prices.

China’s largest real estate developer, Country Garden, gained 2.9 percent and Sunac China Holdings jumped 4 percent.

Evergrande gained a reprieve in December after it said it was attempting to “refine” a new debt restructuring plan of more than $300 billion in liabilities. It could appeal the ruling.

Fergus Saurin, a lawyer representing an ad hoc group of creditors, said Monday he was not surprised by the outcome.

“The company has failed to engage with

us. There has been a history of last-minute engagement which has gone nowhere,”he said.

Saurin said that his team worked in good faith during the negotiations. Evergrande “only has itself to blame for being wound up,” he said.

The judge was expected to provide more reasons for the liquidation order during a separate court session Monday afternoon.

Evergrande CEO Shawn Siu told Chinese news outlet 21Jingji that the company feels “utmost regret” at the liquidation order. He emphasized that the order affects only the Hong Kong-listed China Evergrande unit.

The group’s domestic and overseas units are independent legal entities, he said. Siu said that Evergrande will strive to continue smooth operations and deliver properties to buyers.

“If affected, we will still make every effort to ensure the smooth advancement of risk resolution and asset disposal, and we will still make every effort to advance all work fairly and in accordance with the law,” he said.

Evergrande first defaulted on its financial obligations in 2021, just over a year after Beijing clamped down on lending to property

developers in an effort to cool a property bubble.

It’s also unclear how the liquidation order will affect Evergrande’s vast operations in the Chinese mainland. As a former British colony, Hong Kong operates under a legal system that is separate, though increasingly influenced by, communist-ruled China’s.

In some cases, mainland courts have recognized bankruptcy rulings in Hong Kong but analysts say Evergrande’s is something of a test case.

Real estate drove China’s economic boom, but developers borrowed heavily as they turned cities into forests of apartment and office towers. That has helped to push total corporate, government and household debt to the equivalent of more than 300 percent of annual economic output, unusually high for a middle-income country.

The fallout from the property crisis has also affected China’s shadow banking industry—institutions that provide financial services similar to banks but operate outside of banking regulations, such as Zhongzhi Enterprise Group. Zhongzhi, which lent heavily to developers, said it was insolvent.

N. Korea says Kim supervised tests of cruise missiles designed to be fired from submarines

By Kim Tong-Hyung The Associated Press

S

EOUL, South Korea—North Korean leader Kim Jong Un supervised testfirings of new cruise missiles designed to be launched from submarines and also reviewed efforts to build a nuclear-powered submarine while reiterating his goal of building a nuclear-armed navy to counter what he portrays as growing external threats, state media said Monday.

The report came a day after South Korea’s military said it detected North Korea firing multiple cruise missiles over waters near the eastern port of Sinpo, where the North has a major shipyard developing submarines.

It was the latest in a streak of weapons demonstrations by North Korea amid increasing tensions with the United States, South Korea and Japan.

North Korea’s official newspaper Rodong

Sinmun published photos of what appeared to be at least two missiles fired separately.

Both created grayish-white clouds as they broke the water surface and soared into the air at an angle of around 45 degrees, which possibly suggests they were fired from torpedo launch tubes.

State media said the missiles were Pulhwasal-3-31, a new type of weapon first tested last week in land-based launches from North Korea’s western coast.

The reports implied that two missiles were fired during the test. KCNA said the missiles flew more than two hours before accurately striking an island target, but it did not specify the vessel used for the launches. North Korea in past years has fired missiles both from developmental, missile-firing submarines and underwater test platforms built on barges.

Lee Sung Joon, spokesperson of South Korea’s Joint Chiefs of Staff, said the South Korean and US militaries were analyzing the

launches, including the possibility that the North exaggerated the flight times.

In recent years, North Korea has tested a variety of missiles designed to be fired from submarines as it pursues the ability to conduct nuclear strikes from underwater. In theory, such capacity would bolster its deterrent by ensuring a survivable capability to retaliate after absorbing a nuclear attack on land.

Missile-firing submarines would also add a maritime threat to the North’s growing collection of solid-fuel weapons fired from land vehicles that are designed to overwhelm missile defenses of South Korea, Japan and the United States.

Still, it would take considerable time, resources and technological improvements for the heavily sanctioned nation to build a fleet of at least several submarines that could travel quietly and execute attacks reliably, analysts say.

The North’s official Korean Central News

Agency said Kim expressed satisfaction after the missiles accurately hit their sea targets during Sunday’s test.

He then issued unspecified important tasks for “realizing the nuclear weaponization of the navy and expanding the sphere of operation,” which he described as crucial goals considering the “prevailing situation and future threats,” the report said. KCNA said Kim was also briefed on efforts to develop a nuclear-propelled submarine and other advanced naval vessels.

Kim issued similar comments about a nuclear-armed navy in September while attending the launching ceremony of what the North described as a new submarine capable of firing tactical nuclear weapons from underwater. He said then that the country was pursuing a nuclear-propelled submarine and that it plans to remodel existing submarines and surface vessels so they can handle nuclear weapons.

A12 Tuesday, January 30, 2024 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

Ensuring transparency in PCSO’s lotto games

T

he recent controversies surrounding the Philippine Charity Sweepstakes Office (PCSO) have raised concerns about the trustworthiness of its lotto games. The allegations of a “favored winner” and rumors of manipulation have tarnished the reputation of the agency. It is crucial for the PCSO to address these issues promptly and transparently to maintain the trust of the betting public.

The Senate Games and Amusement Subcommittee, led by Senator Raffy Tulfo, conducted a hearing last week to discuss the integrity and trustworthiness of the PCSO lotto games. This initiative demonstrates the Senate’s commitment to ensuring fairness and accountability in the operations of the PCSO. Senator Tulfo rightly emphasized that this issue has been a concern for many lotto players for a long time. (Read the BusinessMirror report: “At Senate probe, PCSO says draws are not being gamed,” January 25, 2024).

During the hearing, PCSO General Manager Melquiades Robles explained their recent move to “sweeten the lotto pot,” saying the additional P500 million cash prize was part of a marketing campaign to encourage more bettors, which will increase revenue for charity. While the intention is meritorious, it is essential to ensure that the funds allocated for prizes are within the bounds of the PCSO charter.

Robles repeatedly denied any manipulation of the system, claiming that their processes make this impossible. However, it is crucial for the PCSO to provide concrete evidence to assure the public that the games are conducted with integrity, and to dispel any doubts or suspicions.

Senator Tulfo raised a valid point by suggesting that the additional funds used to “sweeten the pot” should be allocated for charitable purposes. Thus, it is imperative for the PCSO to review its charter and ensure that the funds generated are effectively used to fulfill its primary mission of supporting various health and welfare programs.

The recent mega lotto draw, which sparked rumors of manipulation, necessitates a thorough explanation from the PCSO. Persistent rumors and social media memes undermine public confidence in the fairness of the draw. The PCSO must provide a transparent account of the draw, including verification mechanisms, to erase doubts.

To regain public trust, it would do well for the PCSO to take several actions.

Firstly, it should enhance transparency by providing detailed information about the lotto games, including the verification procedures and auditing mechanisms. Secondly, the agency should establish an independent oversight body to monitor and audit the draw processes regularly. This would ensure impartiality and hold the PCSO accountable for maintaining the integrity of the games.

Moreover, the PCSO should actively engage with the public and address their concerns. Regular public updates, information campaigns, and avenues for feedback would help create a more transparent and accountable environment. The PCSO must prioritize the trust of lotto players and the public, as it directly affects their participation and support for charitable causes.

During the hearing, Senate Minority Leader Aquilino “Koko” Pimentel III asked the PCSO to provide a position paper regarding a resolution he submitted on October 5, 2022. The objective of the resolution is to ensure and uphold the integrity and credibility of PCSO games in light of allegations of controversies and irregularities. Pimentel said he filed the resolution following the announcement of 433 winners in the 6/55 draw on October 2, 2022, with a notable number of winners that used the multiples of 9 betting system. He sought an explanation regarding the high number of winners. The winning combination was 09-45-36-27-18-54—numbers that are all divisible by 9.

Pimentel, who holds a mathematics degree and topped the Bar after pursuing law, inquired about the existence of a system to verify the multiples of 9 betting system and challenged the PCSO to demonstrate its capability to do so. Additionally, he expressed his curiosity about the specific number of distinct bets placed in the controversial October draw.

The PCSO must fully cooperate with the Senate probers and provide comprehensive answers to the questions raised. Transparency, integrity, and accountability should be the guiding principles in the operations of its lotto games. By addressing the concerns and implementing necessary reforms, the PCSO can restore public trust and ensure the fairness of its lotto games.

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Marketing the stock market John Mangun

OUTSIDE THE BOX

T

hroughout the years, I found myself deeply offended, both personally and professionally, by the comparison of the stock market to a gambling casino. However, in retrospect, I now realize that it might have been better to have embraced that notion.

“Philippine Amusement and Gaming Corp. profits jumped by 39.7 percent to P4.86 billion from January to September 2023.” “The Philippine Stock Exchange Inc.’s [PSE] net income for the January to September 2023 period reached P575.65 million, up by 19.9 percent.”

It is unfair to compare Pagcor to the PSE as the stock market is only a “palengke” that provides a venue and infrastructure for buyers and sellers to transact business. A casino provides—to use the financial term —a counter-party to a gambler’s wager. It is a “bucket shop” where one side wins and the other side of the bet loses. And the odds are always in favor of The House.

Yet casinos do a huge business even if the public “investors” know that they can lose everything and that they can only win if they beat the odds, which are against them. But it is the stock market that gets the bad

publicity. Human nature, I suppose.

But the PSE has an obligation to increase business and to do what is necessary to encourage that buy-sell business.

I recently spoke of customer “Pain Points” as a critical challenge for every business and that the business must talk to its customers to be able to understand and then address the pain point problems. Some but not all of the solutions offered by the PSE over the years have been longer trading hours, dollar-denominated trading, short selling, reduced commission, smaller board lot, and lower costs to encourage companies to do their Initial Public Offering.

In all honesty, it seems as if the PSE is only speaking to the stockbrokers and to people like me that are already active stock market investors. Despite the many seminars that the PSE conducted pre-Covid for potential investors—the little

guy—I wonder if they ever asked the question, “Why have you never invested in stocks?” I could be wrong, but my feeling is that the overwhelming majority of the attendees were novice-investors looking for trading tips and not non-investors.

Lowering commission and fees is a great idea for people like me that potentially make many transactions every week, if not daily. But are local stock market commissions an issue?

Are they high? Are they keeping people from the stock market?

One argument is that other exchanges have lower commissions.

But what does that have to do with Filipino investors? The Basic Netflix subscription in Malaysia is P100 more than in the Philippines. In Pakistan, Netflix costs the equivalent of P88. What effect does it have on Filipino stock market investors that Thailand charges only 7 percent VAT? Maybe lower commission rates are designed for active traders like me or (say this quietly) for foreigners, not Filipinos?

Further, are the stock market commission and fees high enough to be prohibitive to the average retail investors’ interest in placing fund for the longer term?

An example: Were you to buy at an online broker 300 shares of SM Investments Corp. at a price of P1,000 per share, your P300,000 investment would generate a transaction cost of P885 or 0.295 percent. Were you to sell that same 300 shares at P1,000, your transaction cost including the

government share would be P2,685 or 0.895 percent. The total transaction cost on those two trades is P3,570 or 1.19 percent total on your P300,000 investment and P600,000 value of transactions.

A silly example. If your salary is P50,000 per month, your income is P2,272 per working day.

At P100,000, it is P4,545 and at P200,000 per month you earn P9,090 a day. Is your transportation cost to get to work 1.19 percent or P27, P54 or P108?

“But the job income is guaranteed.

Stock profits are not.” Very true. But stock market investing is a business and must be treated that way. Therefore, unless you are going to treat your investment as a business, do not invest. What does that mean?

For a novice, buy the company, not the stock. Do you live in Metro Manila? You should own a piece of Meralco. From the 2020 low, the price is up 50 percent; since January 2022 up 25 percent. 2022 was a bad year with a massive pull back.

But the stock pays a dividend that is much higher than any bank interest rate available.

You cannot make professional trading profits. But you can put idle cash to work effectively without pain.

That is why you should invest in the stock market.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Traders line up for ‘once-in-a-generation’ emerging markets bet

By Carolina Wilson & Zijia Song

O

ne of last year’s best wagers in emerging-market debt is getting a fresh boost from bets the Federal Reserve will finally begin cutting interest rates.

Optimism is sweeping through domestic bond markets as investors wager that the Fed will soon start lowering rates, with Wall Street set to scour this week’s meeting for clues on timing. Alongside a weaker dollar, a potential US pivot would help coax central bankers in emerging markets to ease—resulting in a potential windfall for holders of localcurrency debt.

To Grantham Mayo Van Otterloo & Co., that means a “once-in-a-generation” opportunity in local bonds.

Latin American domestic debt is already fresh off its best annual rally since 2009 thanks to early and aggressive monetary policy in the region.

“Local debt is attractive with a rich dollar, cheap EM currency valuations, attractive yields and the ongoing disinflation process—no matter what the Fed does or says,” said Victoria Courmes, a money manager at GMO. “Hints at when the

easing cycle is likely to start in the US could be a catalyst for a weaker dollar and strong performance from EM local debt.”

GMO is among a growing cohort of global money managers—from Neuberger Berman to Vontobel Asset Management and JPMorgan Chase & Co.—that tout early 2024 as an important moment for the asset class.

Even though policymakers in nations such as Brazil and Chile are further along in their monetary cycles than peers in the US and Europe, a potential Fed pivot still stands to invite further easing. Traders price in a less-than-50 percent chance that US officials begin easing at the March gathering.

If that pivot comes alongside a decline in the greenback, central bankers in emerging markets would be less likely to risk local-currency depreciation by also cutting rates.

For traders, that scenario offers

traders a unique opportunity.

As JPMorgan strategists including Anezka Christovova see it, inflation is coming down and growth should be resilient in the first half of the year. That leaves the case for local bonds intact as the Fed moves closer to lowering borrowing costs—even though emerging assets are sputtering at the start 2024, they wrote in a January19 note.

Gauges of developing currencies and local government bonds are both down more than 1 percent so far this year due to uncertainty about the health of China’s economy and shifting bets on the timing of Fed rate cuts. But that, as GMO’s Courmes sees it, presents an attractive entry point for investors.

Even the most-sophisticated of Wall Street bears are getting in on the wager, reducing short bets on local-currency funds to the lowest in more than four years, according to data compiled by Bloomberg.

Outstanding bearish positions on the $3 billion VanEck Morgan EM Local Currency Bond exchangetraded fund fell to 0.69 percent of the float, the lowest since October 2019, according to data from S3 Partners.

A sweet spot remains in Lat-

in America. Brazil’s central bank pushed up its key Selic rate earlier and higher than others, and has already started to ease that policy. Policymakers in Chile, Colombia and Peru have also started trimming rates.

In the coming days, three central banks in the region are expected to deliver cuts. Brazil’s first monetary policy decision of 2024 will likely result in a half-point reduction, while policymakers in Chile and Colombia are also projected to slash benchmark rates.

Even Mexican central bankers, which have kept their rate at a record 11.25 percent for six decisions, have started signaling eventual cuts. Most analysts expect the next move to be a quarter-point drop in March, according a recent Citigroup Inc. survey.

“Latin America continues to be the most attractive region for localcurrency bonds, particularly Brazil and Mexico,” said Carlos de Sousa, a portfolio manager at Vontobel Asset Management AG. Once the Fed starts cutting rates, “that will encourage some of the more hawkish central banks—such as the central bank of Mexico—to also do the same. So they can do pretty well this year.” Bloomberg

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Opinion BusinessMirror

Tuesday, January 30, 2024 A13

Trump’s cash stockpile at risk from $450 million dual verdicts

CWT refunds under Ease of Paying Taxes Act

D

I

Atty. Mabel L. Buted

Tax Law for Business

By Erik Larson

onald Trump is facing a pair of major legal verdicts in New York that risk wiping out most—if not all—of the cash the billionaire says he has on hand, a potential blow to the presidential candidate whose persona is tied up with financial success and wealth.

Trump on Friday was ordered by a jury to pay $83.3 million to writer E. Jean Carroll for defaming her in 2019 when he denied her sexualassault allegation. On top of that, a verdict is expected this week in New York’s civil fraud trial, which seeks the return of $370 million in “illegal profits” Trump allegedly made by lying to banks about his wealth to get better terms on loans.

In a deposition last year, Trump described his stockpile of cash as being “substantially in excess” of $400 million. The Bloomberg Billionaires Index placed his liquid assets at about $600 million, though Trump’s exact financial status remains famously opaque.

The prospect of being hit with damage awards totaling more than $450 million in less than a week points to the potential for a cash problem. The two lawsuits sought to punish Trump financially. If the judge in the New York fraud case accepts the attorney general’s $370 million request, both will have succeeded in hitting at the billionaire’s wealth.

The timing couldn’t be worse as the likely Republican nominee for the November presidential election already faces mounting legal bills after being charged with 91 criminal offenses in four criminal prosecutions. Trump’s cash and his overall wealth are separate from his campaign finances, which by all accounts are still strong, but that money can’t be used to finance these verdicts.

Personal expenses

While Trump can use campaign funds to pay some of his legal bills —those that relate to his political duties or due to an investigation by Congress, for example—he can’t use them for personal expenses like damages, said former federal prosecutor Jennifer Rodgers.

“There aren’t any exceptions that would cover a damages award for a matter not involving him as a candidate or officeholder,” she said.

Alina Habba, Trump’s attorney in both of the cases, said the financial penalties were “clearly all by design and the epitome of selective prosecution against the clear Republican nominee.”

Trump has made his legal troubles the center of his fundraising pitch to supporters and has raised millions of dollars, some of which he has used to pay for his legal bills. Trump’s campaign reported spending about $25.5 million in lawyer fees for the first six months of 2023, and will report the latest figures on Wednesday.

But Trump would be barred from paying for damages with funds raised by his super political action committee, Make America Great Again Inc., which earlier this month announced a $46 million haul for the final six months of 2023. Daniel Weiner, a director for elections and government at the Brennan Center for Justice, said the rules may not stop Trump due to “gray areas” and a lack of enforcement.

“Super PACs are not supposed to donate to candidates, they’re supposed to be independent,” he said. “It would violate the spirit of the law to use Super PAC money, raised to support the candidate, to pay his debts.”

Real estate empire

Trump has a net worth of $3.1 billion according to the Bloomberg Billionaires Index, the most cash and least leverage than at any point in the past decade. Most of his fortune is tied up in real estate, including office and residential buildings in Manhattan, several golf courses and

the famous Mar-a-Lago Club in Palm Beach, Florida.

A $450 million worst-case penalty from the civil fraud trial and Carroll verdicts would eat up nearly 15 percent of his estimated net worth. In a deposition as part of the lawsuit by New York Attorney General Letitia James, the former president gave extended testimony about his wealth, including his cash.

“We have a lot of cash,” Trump said in April 2023. “I believe we have substantially in excess of $400 million in cash, which is a lot for a developer,” he added. “Developers usually don’t have cash. They have assets, not cash.

We have, I believe, 400 plus and going up very substantially every month.

My biggest expense is probably legal fees, unfortunately.”

To be sure, the billionaire has hundreds of millions of dollars in assets he could tap to replenish his cash stockpile. Trump is seeing a boom in revenue in his Florida properties, and has paid down his loans by selling his Washington hotel. A federal disclosure last year showed that from 2022 through April 2023, Trump’s Miami-based company that owns golf courses and a resort produced $145.8 million, Mar-a-Lago generated $52.3 million and Trump Ruffin Tower in Las Vegas took in $32 million.

Appeals escrow

Trump, who denies wrongdoing in all the cases, said he’ll appeal the Carroll verdict, and will most likely do the same if the judge issues a steep monetary award in the James case.

Even so, Trump may still have to part with the cash and put it up as escrow with the court until the appeals process is resolved.

When Carroll, who claims Trump raped her in the 1990s, won a separate sexual-assault trial against Trump last year, a jury awarded her $5 million in damages. The former president was forced to put $5.5 million in escrow with the court while he appeals.

Carroll’s lawyer, Roberta Kaplan, had Trump’s overall wealth in mind—not just his cash—when she urged the jury in her closing argument on Friday to consider a large award of punitive damages to punish Trump for defaming the former Elle magazine columnist and try to stop his “malicious and spiteful” conduct.

N my previous articles, I wrote about some of the issues related to the requirements in claiming refund of unutilized and excess creditable withholding taxes (CWTs). Some of these were effectively addressed with the passage of the Ease of Paying Taxes Act (EOPT).

To recall, prior to the enactment of EOPT, claims for refund of CWTs had to be filed within two years from the date of payment of the tax. This rule applied to both the claims filed at the administrative (BIR) and judicial levels. The claim must be filed in writing first with the BIR before any action in court may be pursued. The bases are Sections 204(C) and 229 of the Tax Code. Because both the administrative and judicial claims were required to be filed within the twoyear period, taxpayers were allowed to appeal the claim to the CTA when the two-year period is about to lapse, and the BIR has not yet acted on the administrative claim. With this rule, however, questions were raised as to when a claim should already be elevated to the courts.

In fact, there were cases dismissed by the tax court simply because the judicial claims were filed shortly or just a few days after the applications for refund were filed

entitlement to refund. It can be recalled that the BIR had denied some applications of taxpayers because of non-submission of proofs of remittance of withholding taxes by the payor-withholding agent, such as the latter’s withholding tax returns and alphabetical list of income payees.

As the 180-day period starts to run from the submission of complete documents, it is essential to know all the requirements needed in the filing of claims for CWT refunds. Given the limited period, only documents necessary to prove the entitlement of the taxpayer to its claim for refund, while giving the BIR adequate basis to evaluate the refund applications, must be required and submitted.

With the changes introduced by the EOPT, now is a good chance for the BIR to clarify, specify, enumerate, and consolidate all these requirements and ease the procedures in processing claims for refunds. Needless to say, these requirements and procedures should not be deterrents in claiming returns of taxes that are rightfully due to the taxpayers.

The author is a junior partner of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at mabel.buted@ bdblaw.com.ph or call 8403-2001 local 160.

Marcos calls for unity as Duterte’s son seeks his resignation

By Ditas Lopez & Cliff Venzon

T

housands of people gathered at separate rallies by Philippines President Ferdinand Marcos Jr. and his predecessor Rodrigo Duterte amid indications of a widening rift between the two camps that formed an alliance to win the 2022 elections.

“We face a complex and changing world. It calls for a united response that will make our nation strong, our economy sound and our children’s future secure,” Marcos said as he launched his “Bagong Pilipinas,” or “New Philippines,” campaign at the Quirino Grandstand in Manila’s Rizal Park. “We cannot meet these challenges if no common purpose energizes us.”

Vice President Sara Duterte, who ran with Marcos in the 2022 elections, told the Manila crowd that she

supports Marcos’s vision of a “New Philippines” and that the Education Department that she heads is working toward that goal. She left, before Marcos arrived, to attend the rally organized by her family’s supporters in the southern city of Davao.

Her brother, Davao City Mayor Sebastian Duterte, meanwhile, criticized the present administration’s policies and called for Marcos to resign, CNN Philippines reported.

The Manila crowd—which included some Cabinet officials, law-

makers and employees from various agencies — reached 400,000, according to the Presidential Communications Office.

“Bagong Pilipinas is not a political game plan that caters to a privileged few. It is a master plan for genuine development that benefits all people,” Marcos said. In a speech that lasted about 20 minutes, he highlighted the need to restore the people’s trust in government and for the state to be worthy of that trust.

He pledged to boost the country’s defenses, address trading and transport bottlenecks and increase farm support to help fight El Nino. He also promised sufficient books and well-trained teachers as part of the reforms in education.

As the Manila rally wrapped up, former President Duterte spoke at a

separate gathering called “One Nation, One Opposition” in Davao City.

Duterte warned Marcos that he might suffer his father’s fate, ABSCBN News reported. The late dictator, Ferdinand Marcos, was ousted by a popular revolt in 1986.

By early evening Sunday, the crowd at the Davao City rally was estimated at 17,000, online media Rappler posted on X, citing the police.

The Manila and Davao rallies “highlight a distressing reality: the dynastic war among ruling elites, which serves only to further cement the interests of political dynasties and entrenched elites, while neglecting the pressing needs of the Filipino populace,” Rafaela David, president of political party Akbayan, said in a statement. With assistance from Clarissa

Batino /Bloomberg

Biden faces pressure to confront Iran after US troops killed

By Peter Martin & Eric Martin

‘Hottest brand in the world’

P

Brian Chappatta, Tom Maloney and Laura Davison / Bloomberg

A person familiar with the US position, who asked not to be identified discussing private discussions, said it was clear that a strike killing Americans would force a stronger response than what the US has done so far in the weeks since Hamas militants attacked Israel on October 7 and touched off a new conflagration in the Middle East.

One possibility is covert action that would see the US strike Iran without claiming credit for it but sending a clear message regardless.

The Biden administration could also target Iranian officials directly, as former President Donald Trump did when he ordered the killing of General Qassem Soleimani in Baghdad in 2020.

Regardless of the outcome, the attack presents Biden with a decision that will be one of the most consequential of his presidency. He wants to punish the perpetrators of the attack and deter Iran from its actions in the region. But doing so could put the US into direct confrontation with the leadership in Tehran, which has already been emboldened in the region since the

“A billionaire like Donald Trump could pay a million dollars a day for 10 years and still have money left in the bank,” Kaplan said in her presentation. “With that sort of extreme wealth, it will take an unusually high punitive damages award to have any hope of stopping Donald Trump, to have any chance of allowing Ms. Carroll’s life to return to normal.”

The jury of seven men and two women awarded Carroll $65 million in punitive damages on top of $18.3 million for damage to her reputation, suggesting they agreed with Kaplan that Trump needed to feel the pain in his wallet to get his attention.

James, who filed the civil fraud suit on behalf of the state, made Trump’s wealth central to her case. She presented evidence at a monthslong trial that Trump inflated the value of his assets by as much as $3.6 billion a year to get lower interest rates on hundreds of millions of dollars in loans for key development projects. James, a Democrat, has claimed that Trump’s wealth has “long been rooted in incredible fraud.” With assistance from Kristine Owram,

with the BIR. According to the court, since no sufficient time was given to the BIR to evaluate the application, the taxpayer was not able to exhaust the administrative remedies, rendering the case premature. Further, we have seen instances where the BIR continued to act and decide on claims filed before it, even after appeals had already been filed with the CTA. The EOPT addressed these issues by providing a specific period within which our tax authority must process and decide on administrative claims for refund. The BIR has 180 days, which commences to run from the date of submission of complete documents in support of the application.

Under EOPT, no suit or proceeding in court will be filed unless there is a full or partial denial of the claim by the BIR or unless there is failure on the part of the BIR to act on the claim within the 180-day period. In such case, the taxpayer may appeal

within 30 days from receipt of the decision or after the expiration of the 180-day period.

Now, it is clear that the affected taxpayer may invoke the jurisdiction of the court to act on its application for refund only (a) after a decision is rendered by the BIR, denying the claim, within the 180-day period, or (b) in case of inaction of the BIR after the expiration of the 180-day period. Also, as we see it, with this new rule, the judicial claim is no longer required to be filed within two years from the date of payment of the tax. The two-year period applies only on the administrative claim, that is, on the applications for refund with the BIR. The requirements in proving claims for CWT refunds are still the same as in the previous rules. The claim will be granted only when the following facts are proven: (a) that the income upon which the taxes were withheld were included as part of the gross income of the taxpayer; and (b) that the fact of withholding is established. These requirements previously appeared only in revenue regulations. Now, they are specifically provided in the law itself. Note that the fact of remittance of the creditable taxes is still not included in the amendment to the law. While initially there was intention to include that, it was not pursued. The intention of our legislature to exclude that as a requirement is therefore clear.

I hope that this will help settle any attempt to include the fact of remittance as a requirement in providing

resident Joe Biden faces intensifying pressure to confront Iran directly after the country’s proxies killed three American soldiers in a drone strike in Jordan, risking precisely the wider regional conflict that he’s said he wants to avoid.

Hamas attack, launching attacks in Iraq and Pakistan.

He must also weigh the potential for further economic upheaval as the US contends with Houthi militants —another Iranian proxy—that has roiled global shipping and sparked fears of fresh economic turmoil by targeting commercial ships in the Red Sea, which accounts for 12 percent of global trade.

Oil prices jumped after the deadly attack on US troops and a Houthi missile strike on a fuel tanker on Friday. West Texas Intermediate crude rose as much as 1.6 percent to the highest since November as the trading week began.

“The Biden administration is going to have to tread a very delicate line in trying to respond forcefully enough to restore some modicum of deterrence so this doesn’t happen again, while not undertaking a response that escalates the conflict,” said Jonathan Panikoff, director of the Atlantic Council’s Scowcroft Middle East Security Initiative and former deputy national intelligence officer at the National Intelligence Council.

“The broader challenge, however, is how to address an Iranian threat,” Panikoff said.

Biden is already vowing retaliation after saying Iranian-backed militants killed the service members and wounded 25 others in a drone attack near the Syrian border. After dozens of strikes on US forces in Syria and Iraq, the attack marked the first American deaths under enemy attack since Israel and Hamas went to war and Iranian proxies ramped up their attacks.

“We will hold all those responsible to account at a time and in a manner our choosing,” Biden said in a statement.

Such escalation also risks scuttling US efforts to forge a cease-fire between Israel and Gaza that could help stem that conflict. Central Intelligence Agency director William Burns was headed to Paris for talks aimed at halting the violence for at least two months in exchange for Hamas releasing most of the remaining hostages seized in its October 7 attack against Israel.

Those talks have no guarantee of success given the need to persuade not only Hamas, but also Israel, which has resisted pressure to ease its military campaign despite growing US alarm about the civilian toll and increasing international condemnation. In a statement Sunday, Prime Minister Benjamin Netanyahu said “significant gaps” remain, though he

called the talks productive.

Pressure was already mounting back home on Biden to take direct action against Iran, with Republicans in Congress blaming Biden for what they called timid responses to action

by Iranian proxies so far.

“The Biden administration’s responses thus far have only invited more attacks,” Senator Roger Wicker, the top Republican on the Senate Armed Services Committee, said in a statement. “It is time to act swiftly and decisively for the whole world to see.”

Either way, analysts argue that the US in on the cusp of being pulled even further into the regional conflict. The US has launched dozens of strikes against Iranian proxies in Iraq and Syria, and has also launched a wave of strikes against the Houthis in Yemen.

Iran emboldened

None of it has worked so far. In fact, Republicans like Wicker argue, Iran has only been emboldened.

One thing that seems least likely at this stage is that the US would consider pulling back troops from Jordan, Syria and Iraq, where they had been stationed as part of efforts to defeat the Islamic State in recent years. With that threat receding, some critics have argued the US was only exposing its service members to threats for no good reason. Bloomberg

A14 Tuesday, January 30, 2024

MARCOS: VIETNAM TRIP WILL BOOST TRADE, SECURITY TIES

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RESIDENT Ferdinand R. Marcos, Jr. on Monday said he is confident his State Visit in Vietnam this week will elevate the country’s bilateral ties with Hanoi on security as well as trade and investment.

In his departure speech at the Villamor Airbase in Pasay City, the chief executive highlighted the importance of the trip since Vietnam is the country’s only“strategic partner” within the Association of Southeast Asian Nations (Asean).

“And maritime cooperation will be one of the cornerstones of the strategic partnership which we are going to forge, and we hope to strengthen this aspect during my visit to promote peace and stability in our region,” Marcos said.

During the state visit, a memorandum of understanding (MOU) on capacity-building between the Philippine Coast Guard and the Vietnam Coast Guard is expected to be signed, the Department of Foreign Affairs (DFA) said.

Marcos also said he wants to explore new trade and investment partnerships with Vietnam, which he sees as a boost to the country’s post-pandemic recovery.

He will meet with business leaders in Vietnam to encourage them to invest in the country.

The President said his talks with Vietnamese officials will also cover education, tourism, as well as regional and multilateral issues of concern.

“Nearly 50 years have passed since we established relations with Vietnam, and I believe that we will usher in a new era of friendship and cooperation between our two countries,” Marcos said.

His state visit itinerary also includes meeting Vietnam’s highranking officials, namely, President Vo Van Thuong and Prime Minister Pham Minh Chinh and Chairman of the National Assembly Vuong Dinh Hue. The President is also scheduled to meet with the Filipino community in Vietnam.

“I hope that they will be able to continue to exhibit the best of Filipino values and that the State Visit will result in lasting opportunities for them and for our country,” Marcos said.

There are an estimated 7,000 overseas Filipino workers (OFW) in Vietnam. Samuel P. Medenilla

MAP bares to-do list for licking NCR traffic crisis

By Andrea E. San Juan @andreasanjuan

T

HE Management Association of the Philippines (MAP) has laid out its recommendations to address the Metro Manila traffic crisis, which includes appointing a “traffic czar,” prioritizing mass public transport over private vehicles, and transfering all national offices to the New Clark City while imposing a moratorium on building new government offices in Metro Manila.

As a proponent of the Busway solution to the “severe” public bus transportation problem in EDSA, MAP emphasized in its statement that “there is no single silver bullet to slay this traffic monster, rather, a holistic approach to this crisis is essential.”

Signed by MAP President Rene D. Almendras and MAP Transportation and Infrastructure Committee Chair Eduardo H. Yap, MAP unveiled Monday its “holistic plan” embodying recommendations to address the traffic crisis in the National Capital Region.

“Policy must reflect that road space is a finite public resource which must be judiciously and efficiently used to move people, instead of private vehicles,” the group’s statement read.

Foremost among MAP’s recommendations is the declaration of a traffic crisis and the appointment of a new traffic management team to be headed by a traffic czar, who it said should be appointed by the President “and vested with full powers and authority to mobilize, direct and deploy existing relevant resources of the government, both national and local, during the exigency of this crisis.”

MAP suggested organizing Metro Manila into four Traffic Management Zones, each headed by a “qualified” Zone Traffic Manager who shall be responsible for traffic management in their respective zones, and shall report and be accountable to the traffic czar.

On traffic management, MAP recommended reviving the “Mabuhay Lanes” and optimizing their use as alternate routes to relieve traffic congestion along major routes, such as EDSA, C4, C5 and radial roads.

To manage traffic, MAP cited a need to “create new ones where

none exists; clear the Lanes by disallowing parking during designated peak traffic hours in the morning and evening, subject to towing and impounding of violating vehicles; revise the direction of traffic flows along MM streets to minimize traffic conflicts at intersections by limiting left turns and crossings; disallow U-turns, except only in suitable locations; create quick reaction force to clear choke points; require high-passenger occupancy vehicle (HOV) practices in high-density zones, such as schools and large event venues; require off-street drop-off and boarding lanes; and strictly enforce no parking, no loading and unloading rules along major routes where schools are located.”

On mass public transport, the business group pushed compliance with the “Neda-formulated National Transport Plan (NTP) extant” since 2017, to prioritize mass public transport over private vehicles.

MAP underscored the need to prioritize allocation of road space for busways; enhance nonmotor ized mobi lit y w ith the creation and expansion of sidewalks and cycling network; institute travel demand management through peak-hour travel pricing of public transport, such that non-peak hours shall have lower charges; implement road congestion charges on private vehicles in high-volume traffic routes during peak travel hours; rationalize the jeepney and bus franchising system to institute a one-route, onefranchise system to optimize the efficiency and utilization of vital commuter corridors.

The business group recommended privatizing the operation and maintenance of the MRT 3 and LRT 2, in order to “improve and expand service capacity; reduce the headway or the gap between trains during peak travel hours to maximize commuter throughput without the need for additional heavy capital expenditures and compromising passenger safety.”

On decongesting Metro Manila, MAP cited the need to build a “new government center” and transfer all national offices to the New Clark City and impose a “moratorium” on building new government offices in Metro Manila, particularly in already congested central business districts.

Continued on A5

Comelec halts all PI chores; senators still eye filing case

T

By Samuel P. Medenilla @sam_medenilla, Butch Fernandez @butchfBM, & Jovee Marie N. dela Cruz @joveemarie

HE Commission on Elections on Monday announced it has suspended indefinitely all of its activities related to the People’s Initiative (PI), including accepting signature sheets.

In a press conference, Comelec Commissioner George M. Garcia said the Comelec en banc made the decision through a new memorandum so they can address the gaps in the provisions of Comelec Resolution No. 10650.

The resolution contained the revised rules and regulation for the conduct of an initiative on the Constitution and referendum as well as on national and local legislation.

“We are suspending any and all proceedings [related to the PI] indefinitely until we are able to review, enhance, and add some things to our rules. Comelec Resolution 10650 promulgated in 2020,” the poll chief said.

Among those affected by the suspension are the signature sheets from Masbate.

Long-term solution

GARCIA noted the signature campaign launched by the People’s Initiative for Reform Modernization Action (Pirma) for the possible amendment of the 1987 Constitution raised some issues on the implementation of Resolution No. 10650 such as their acceptance of the signature sheets.

He said while the Comelec decided to accept the signature sheets as part of its ministerial duty, it was not stipulated in the resolution.

“We can always issue a supplementary memorandum. But we anticipate more problems later on.

If it is not included in the rules, we will have a dispute over it. So it is better if we fix [the rules],” Garcia said.

The poll chief said the review

of the rules will take as long as needed and will be done by a panel led by Comelec Executive Director Teopisto Elnas Jr. Prior to the announced suspension, Comelec was already able to receive the signature sheets, containing 7 million signatures, from 209 of the 254 legislative districts nationwide.

Garcia assured all of the signature sheets already submitted to Comelec before the suspension will be safeguarded by the concerned Election Officers.

Senators’ legal challenge

SENATORS will still “file the necessary legal case” to challenge the validity of the ongoing signature gathering campaign of those pushing a People’s initiative to amend the Constitution – a campaign backed by the leadership of the House of Representatives, but rejected by all 24 senators.

Senate President Miguel Zubiri announced this in a freewheeling press conference Monday afternoon

by Senate leaders, who welcomed the announcement by the Comelec, hours earlier, that its en banc had issued a resolution that, among others, tells election officers to stop accepting signature sheets from groups purporting to show grassroots support for a People’s Initiative.

“Our battle is not yet finished.

The Comelec merely ordered a suspension” of acceptance by its elec-

tion officers of the signature sheets, but this is only pending the Comelec’s review of its role in a PI, Zubiri said, speaking partly in Filipino.

Minority Leader Koko Pimentel, in a statement, welcomed the Comelec decision “to stop all proceedings related to the people’s initiative seeking to revise the 1987 Constitution.”

“Nagising din sa katotohanan [They finally woke up to the truth]. I am glad that Comelec has listened to us and the Filipino people. This move is Comelec’s acknowledgement of limitations of its authority. I repeat, the Comelec has no authority under the law to formulate guidelines on people’s initiative, even to accept signatures.”

Zubiri credited Senate President Pro Tempore Loren Legarda for tirelessly helping him conduct “shuttle diplomacy” the past weeks, in a bid to stop what senators deem a “fake people’s initiative” that is being driven by politicians with vested interests, and whose signature drive is attended by deceit and corruption.

At Monday’s presscon, Legarda said she had personally sought to get to the bottom of the so-called “PI” and found out that in most cases, the election officers said signatories claimed they signed because they were told it was for “ayuda” (financial assistance).

Continued on A5

TAX CODE AMENDMENTS Senator Sherwin Gatchalian, chairperson of the Committee on Ways and Means, engages Atty. Rommel Gutierrez, president of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi), during the Committee on Ways and Means' 2nd Public Hearing on the Passive Income and Financial Intermediary Taxation Act (Pifita) on Senate Bill No. 1347. Story on Pifita on A1. ROY DOMINGO

DFA consults stakeholders on defining, leveraging the global Filipino diaspora

By Malou Talosig-Bartolome @maloutalosig

T

HE Department of Foreign Affairs is consulting stakeholders on defining what constitutes the global Filipino diaspora and how to leverage the presence of more than 10 million Filipinos overseas.

DFA Undersecretary Eduardo De Vega said they are seeking to forge a “national consensus” on the Philippine diaspora, which he calls “Filipinas Ultramar” or Latin for “Philippines Abroad.”

Based on the latest estimate of

the DFA, there are 10,854,592 Filipinos abroad, “a population greater than many European countries combined.”

“The Philippines we have now is no longer the Philippines we have had in the past. We are scattered,” De Vega said.

The Americas host almost half of the Filipino diaspora, at 49.04 percent. Asia-Pacific countries have 22.83 percent, Middle East at 21.88 percent, Europe at 6.03 percent and Africa with only 1 percent.

“Our Diaspora is our soft power.

We cannot deny that. It may perhaps be our destiny. We send our

people or they themselves go without Government intervention or support,” De Vega said.

More than 30 Philippine ambassadors and consul generals from different cities in the US, Asia, the Middle East and Europe were called to Manila to attend the first in a series of consultations by the DFA Office of the Migrant Workers Affairs.

De Vega said the Filipino diaspora “oftentime drives” the Philippine foreign policy.

With the protection of Filipino workers delegated to the newly-created Department of Migrant Workers, the DFA is now looking at help-

ing more than 10 million Filipinos abroad to be “empowered” in social and economic integration in their respective country of destination.

One of the ideas floated during the meeting is for Filipinos overseas to be tapped to help the Philippine Embassy or consulates during disasters, calamities, famines, war and pandemics.

“Filipinos can be the rescuers, instead of needing rescue. DFA can organize Filipinos into a voluntary global response team. This will be the Philippines’s leverage and diplomatic force-multiplier,” De Vega said during the opening speech.

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, January 30, 2024

ICTSI secures Iloilo port deal

T

By Lorenz S. Marasigan

@lorenzmarasigan

he International Container Terminal Services Inc. (ICTSI) said on Monday it has received the notice of award for the operation and development of Iloilo Commercial Port Complex (ICPC).

According to a disclosure to the stock exchange, the Philippine Ports Authority has awarded the 25-year contract to ICTSI, which will start the operations of the facility “upon contract signing and PPA’s issuance of the notice to proceed.”

Under the bid parameters set by

the regulator, ICTSI will remit to the government P500 million per year starting the sixth year until the 10th year as concession fees. Another P100 million should be remitted as annual fee.

“We are elated and grateful to be entrusted with the rede-

velopment of the Iloilo Port. We recognize the port’s pivotal role in driving Iloilo’s economic and social growth. Our comprehensive proposal outlines significant investments in infrastructure upgrades, cargo-handling equipment, and operational efficiency measures, all aimed at transforming the Iloilo Port into a premier gateway,” ICTSI EVP Christian R. Gonzalez said.

The Razon-led port operator had submitted an unsolicited proposal to modernize the ICPC with an estimated investment plan of about P5 billion. The first proposal was submitted in 2019, but later on withdrew from the race due to the slow movement of its offer.

ICPC will be renamed to Visayas Container Terminal (VCT). Gonzales

describes it as a “critical gateway for trade in the Western Visayas.”

He said ICTSI’s involvement aims to tackle “capacity efficiency constraints” to “unlock the port’s economic engine.”

VCT is ICTSI’s first project in the Visayas.

“As with all our projects, we will do all to make this a success and make Iloilo key to improving the country’s supply chain and competitiveness in global trade,” Gonzales said.

VCT has 627 meters of operational quay length and 20 hectares of land for container and general cargo storage, warehousing, and other cargohandling activities.

The invitation to bid for the port project was published on December 21 and the deadline to submit bids was scheduled for January 11.

CNN Philippines to halt operations on Jan. 31

N

ine Media Corp., the operator of CNN Philippines (CNNPH), has announced the closure of the network on January 31.

The company said the decision to halt the operations of CNNPH follows significant financial losses it sustained over the past nine years, despite rigorous efforts to adapt and

innovate in a rapidly evolving and challenging media landscape.

“It is with deep regret that the management of Nine Media Corp. announces the discontinuation of its news and production operations on all media platforms, branded as CNN Philippines, effective 31 January 2024,” the company said in a statement on Monday.

The closure marks the end of an era for a news organization that has been a significant part of the country’s media industry.

CNN Philippines, a collaboration between Nine Media Corp. and Turner Broadcasting Corp., has been a platform for comprehensive news coverage, serving its audience with dedication and integrity since 2015.

The company assured that all its employees and talents will be provided with severance packages.

“We express our deepest appreciation to our dedicated team for their unwavering commitment over the years that has elevated CNNPH as a trusted source of news and information in the Philippines,” it said. Lorenz S. Marasigan

B1

Filinvest unit plans to expand solar project

By Lenie Lectura @llectura

F

DC Green Energy Corp. (FDCGEC), a subsidiary of the Filinvest Group, announced Monday plans to expand its first solar power project in Mindanao to nearly 20 megawatts (MW).

The company had planned to put up a 11.5MW solar power project to provide locators in Phividec Industrial Estate in Misamis Oriental with renewable energy (RE). Company president Juan Eugenio Roxas said the capacity of the soon-to-rise solar power project will increase by 95 percent.

Roxas is also the president and CEO of Filinvest’s power arm, FDC Utilities Inc. and its subsidiaries, including FDCGEC. The expansion, he said, involves the installation of more than 34,000 monocrystalline solar panels, which can inject 30,450 megawatt-hours of clean energy annually into the grid that can help electric power industry participants, including electric cooperatives, comply with the requirement under the Renewable Portfolio Standards (RPS) of the Department of Energy (DOE).

Starting 2023, RPS mandates participants to source 2.52 percent of their annual energy demand from

eligible RE facilities to support the country’s goal of increasing the RE share in the energy mix to 35 percent by 2030.

“Filinvest is actively pursuing diverse energy projects in anticipation of peak demand growing annually by 7 percent until 2040, based on the DOE’s forecast. We believe in working together as a community and remain focused on supplying the energy security requirements of the communities we support,” Roxas said.

FDCGEC, he said, has identified opportunities to maximize the output of the solar power project after conducting comprehensive feasibility studies, increasing the capacity from 11.5 MW to 19.78 MW. “We are excited to share the positive outcome of our feasibility studies, which have paved the way for the expansion of our first solar power project in Mindanao.”

The Phividec Industrial Estate is one of the country’s major economic zones, home to a multitude of manufacturing and industrial corporations that make a substantial contribution to the economy of the country.

FDCGEC recently updated its land lease agreement with the Phividec Industrial Estate, adding 7.2 hectares of land to the existing 11.65 hectares allotted for the project.

B2

Companies BusinessMirror

Tuesday, January 30, 2024

PSE STOCK QUOTATIONS

January 29, 2024

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

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

33.6 144.8 6.54 112 31.4 8.8 56.5 8.75 18.66 55 72.2 43.9 1.14 2.51 2.7 0.087 183 2,550

34.2 144.9 6.79 113 31.45 8.81 57 8.79 18.8 55.75 72.35 44 1.15 2.52 2.71 0.088 184 2,600

34.2 144.5 6.7 113 31.3 8.79 57.5 8.75 18.88 55.65 72.4 43.2 1.18 2.51 2.64 0.087 184 2,550

34.2 145.6 6.8 114.2 31.5 8.81 57.8 8.75 18.88 55.75 72.4 44.45 1.21 2.57 2.74 0.087 185 2,550

33.6 144.4 6.54 110.6 31.3 8.6 56.35 8.75 18.66 55 72.05 43.15 1.14 2.51 2.64 0.087 184 2,550

33.6 144.9 6.8 112 31.4 8.8 56.5 8.75 18.66 55 72.2 44 1.14 2.51 2.74 0.087 184 2,550

800 3,542,060 15,700 1,899,050 25,000 351,900 1,577,510 56,200 113,600 6,290 74,020 206,600 452,000 88,000 16,000 50,000 1,190 10

27,180 513,353,096 103,065 214,723,734 785,110 3,093,587 89,567,961.50 491,750 2,127,360 347,844.50 5,341,701.50 9,011,340 528,470 222,830 42,820 4,350 219,140 25,500

INDUSTRIAL

207,258,607 85,602,694 -392,960 3,066,888 -11,965,255.50 -54,426 -10,600.50 -213,623 -4,584,535 36,900 25,500

ACEN CORP 4.18 4.21 ALSONS CONS 0.53 0.54 0.75 0.76 ALTERNERGY HLDG 37.65 37.7 ABOITIZ POWER RASLAG 1.17 1.19 0.184 0.185 BASIC ENERGY 18.2 18.22 FIRST GEN FIRST PHIL HLDG 64.7 65 376 376.8 MERALCO 18.04 18.08 MANILA WATER PETRON 3.36 3.38 4.5 4.74 PHX PETROLEUM REPOWER ENERGY 7.32 7.35 SEMIRARA MINING 31.85 32 7.66 7.67 SYNERGY GRID 10.76 10.78 SHELL PILIPINAS SPC POWER 7 7.05 0.67 0.68 AGRINURTURE 2.2 2.3 AXELUM CENTURY FOOD 32.1 32.4 6.25 6.27 DEL MONTE DNL INDUS 6.64 6.67 EMPERADOR 20.6 20.65 48.8 49 SMC FOODANDBEV 0.66 0.67 FIGARO COFFEE ALLIANCE SELECT 0.455 0.49 0.87 0.88 FRUITAS HLDG 161.7 164 GINEBRA JOLLIBEE 263.8 264 1.45 1.46 KEEPERS HLDG 3.38 3.4 MAXS GROUP MONDE NISSIN 8.33 8.38 10.4 10.66 SHAKEYS PIZZA ROXAS AND CO 0.42 0.43 RFM CORP 2.89 2.9 0.62 0.64 ROXAS HLDG UNIV ROBINA 112.7 113 VITARICH 0.51 0.52 2.52 2.64 VICTORIAS CONCRETE A 40.2 50 CEMEX HLDG 0.9 0.91 EC VULCAN CORP 0.65 0.67 5.97 5.99 EEI CORP MEGAWIDE 3.33 3.35 PHINMA 19.9 20 1.56 1.64 CROWN ASIA PRYCE CORP 5.19 5.2 CONCEPCION 13.3 13.86 0.231 0.234 GREENERGY INTEGRATED MICR 2.39 2.44 IONICS 1.18 1.2 5.08 5.64 PANASONIC SFA SEMICON 2.4 2.45 CIRTEK HLDG 1.82 1.83

4.11 0.55 0.75 37.6 1.19 0.187 18.2 64.6 377 18.2 3.38 4.2 7.4 32 7.61 10.8 7.01 0.7 2.2 32.45 6.19 6.63 20.8 48.75 0.66 0.49 0.88 163.3 274.2 1.46 3.47 8.48 10.68 0.435 2.9 0.63 113.8 0.51 2.72 50 0.91 0.67 5.92 3.39 20 1.6 5.3 13.88 0.234 2.46 1.16 5.64 2.42 1.89

4.22 0.55 0.75 37.75 1.2 0.19 18.38 64.7 378.8 18.2 3.39 4.74 7.47 32.1 7.67 10.8 7.05 0.7 2.29 32.6 6.25 6.71 20.8 49 0.67 0.49 0.89 164 275 1.46 3.47 8.48 10.68 0.435 2.91 0.63 114.5 0.51 2.78 50 0.92 0.69 6.1 3.4 20 1.67 5.3 13.88 0.237 2.46 1.2 5.64 2.45 1.89

4.11 0.54 0.75 37.2 1.19 0.185 18.18 64.6 374 18.04 3.32 4.2 7.35 31.85 7.6 10.76 6.99 0.67 2.2 32.1 6.15 6.61 20.6 48.7 0.66 0.49 0.87 160 264 1.45 3.38 8.3 10.66 0.42 2.89 0.61 112.6 0.51 2.6 50 0.9 0.65 5.92 3.33 20 1.55 5.2 13.88 0.231 2.39 1.14 5.64 2.42 1.82

4.18 0.54 0.75 37.65 1.2 0.185 18.22 64.7 376 18.08 3.38 4.74 7.35 31.85 7.67 10.76 7 0.68 2.29 32.1 6.25 6.64 20.65 49 0.66 0.49 0.88 164 264 1.46 3.39 8.34 10.66 0.42 2.9 0.61 113 0.51 2.64 50 0.9 0.65 5.99 3.35 20 1.65 5.2 13.88 0.234 2.39 1.2 5.64 2.45 1.83

3,116,000 54,000 60,000 720,600 90,000 1,700,000 1,389,600 25,510 146,810 1,593,600 690,000 9,000 35,400 406,300 255,100 99,200 43,100 8,721,000 80,000 1,185,000 9,200 1,173,700 1,389,900 6,000 3,091,000 10,000 944,000 2,070 795,730 371,000 94,000 2,941,800 300 690,000 5,882,000 40,000 1,764,330 393,000 30,000 700 70,000 700,000 116,300 400,000 102,000 249,000 578,600 400 20,370,000 495,000 905,000 1,000 365,000 165,000

13,018,530 29,170 45,000 27,049,340 107,190 316,210 25,299,516 1,650,446 55,232,612 28,830,392 2,313,610 38,880 262,761 12,985,485 1,946,606 1,068,254 301,759 5,969,050 180,080 38,322,010 57,180 7,806,586 28,721,380 293,025 2,046,030 4,900 824,290 334,869 213,708,596 540,130 321,840 24,570,573 3,202 293,150 17,068,110 24,900 199,471,385 200,430 80,070 35,000 63,560 458,570 697,638 1,343,500 2,040,000 407,730 3,011,430 5,552 4,770,280 1,189,380 1,066,050 5,640 890,820 303,360

1,320,590 16,500 178,995 37,400 -5,403,824 -23,320 4,938,984 -840,300 5,180 -1,492,975 -313,663 -253,330.00 49,629 114,690 1,249,565 -2,725,558 12,592,605 -53,725 450,500 13,200 131,106 127,246 4,360 -71,590 -1,564,571 -17,021,760 -105,534,995 26,800 63,104 -37,420 1,540,300 -144,310 3,430 -

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

1.09 2.8 675 48.95 11.32 12 0.375 5 10.5 5.5 646 38.05 4.3 9.49 0.146 1.4 2.63 924 111.6 97 0.27

1.12 2.8 681 48.95 11.48 12 0.38 5.02 10.6 5.5 654 38.9 4.38 9.51 0.146 1.4 2.68 927.5 111.6 97 0.27

1.06 2.8 661 48 11.22 11.98 0.375 4.95 10.34 5.5 632.5 37.5 4.3 9.33 0.146 1.4 2.63 910 110 97 0.27

1.08 2.8 661 48 11.3 11.98 0.38 5.01 10.6 5.5 633 37.5 4.38 9.5 0.146 1.4 2.65 922 111.2 97 0.27

3,356,000 2,000 275,040 417,900 1,378,500 16,900 530,000 332,700 5,332,300 3,000 57,660 2,164,100 153,000 3,615,400 10,000 1,000 26,000 414,030 195,000 140 40,000

3,653,690 5,600 182,742,380 20,136,390 15,589,334 202,488 199,250 1,658,472 56,165,048 16,500 36,818,430 81,490,290 669,900 34,193,036 1,460 1,400 69,160 381,714,420 21,624,910 13,580 10,800

161,780 -42,968,850 1,409,755 -4,747,886 -1,132,187.00 5,735,614 -9,249,540 -8,547,930.00 -3,452,633 201,882,105 -8,485,879 -

HOLDING & FRIMS

1.07 2.8 661 48 11.28 11.94 0.38 5 10.6 5.5 633 37.5 4.3 9.5 0.124 1.3 2.65 917.5 111 96.2 0.27

1.08 2.88 661.5 48.2 11.3 11.98 0.385 5.01 10.62 5.59 635 37.75 4.38 9.51 0.146 1.53 2.67 922 111.2 100.9 0.275

PROPERTY ARTHALAND CORP 0.435 0.45 0.435 0.435 0.435 0.435 20,000 8,700 ANCHOR LAND 4.95 5.88 4.95 5.95 4.95 5.88 6,600 32,981 33.5 33.55 33.95 34.2 33.2 33.5 3,377,500 113,368,085 AYALA LAND 1.71 1.74 1.72 1.75 1.71 1.74 546,000 942,650 AYALA LAND LOG ALTUS PROP 8.95 9.38 8.95 8.95 8.95 8.95 16,500 147,675 1.15 1.18 1.17 1.2 1.16 1.18 1,790,000 2,093,150 ARANETA PROP AREIT RT 31.5 31.65 32 32 31.5 31.5 6,106,000 193,074,530 A BROWN 0.64 0.66 0.66 0.66 0.64 0.66 8,000 5,240 0.69 0.7 0.69 0.7 0.69 0.7 8,000 5,530 CITYLAND DEVT CEB LANDMASTERS 2.63 2.64 2.62 2.65 2.62 2.63 168,000 442,600 CENTURY PROP 0.27 0.275 0.275 0.275 0.275 0.275 20,000 5,500 2.64 2.65 2.68 2.68 2.65 2.65 1,599,000 4,251,810 CITICORE RT 7.73 7.74 7.9 7.9 7.73 7.75 124,800 970,493 DOUBLEDRAGON DDMP RT 1.22 1.23 1.22 1.23 1.21 1.22 758,000 924,900 5.9 6.02 6.04 6.04 6.02 6.02 41,500 249,860 DM WENCESLAO EMPIRE EAST 0.123 0.126 0.123 0.123 0.123 0.123 140,000 17,220 EVER GOTESCO 0.275 0.285 0.285 0.285 0.285 0.285 110,000 31,350 3.1 3.13 3.14 3.14 3.08 3.13 738,000 2,296,100 FILINVEST RT 0.67 0.68 0.68 0.68 0.67 0.67 1,587,000 1,072,400 FILINVEST LAND GLOBAL ESTATE 0.81 0.84 0.83 0.83 0.81 0.81 30,000 24,780 0.5 0.51 0.51 0.52 0.51 0.51 67,000 34,180 PHIL INFRADEV 0.79 0.8 0.77 0.79 0.77 0.79 218,000 172,120 CITY AND LAND MEGAWORLD 1.95 1.96 1.98 1.98 1.95 1.95 14,488,000 28,394,560 1.4 1.43 1.4 1.47 1.4 1.4 145,000 203,900 MRC ALLIED MREIT RT 13.22 13.68 13.94 13.94 13.22 13.22 1,217,300 16,377,828 PREMIERE RT 1.54 1.55 1.55 1.55 1.54 1.55 21,000 32,470 2.3 2.38 2.31 2.31 2.31 2.31 10,000 23,100 PRIMEX CORP RL COMM RT 5.35 5.4 5.47 5.47 5.27 5.35 1,207,800 6,451,840 ROBINSONS LAND 15.68 15.74 16.2 16.22 15.68 15.68 2,252,700 35,607,678 0.148 0.169 0.145 0.147 0.145 0.147 140,000 20,380 PHIL REALTY ROCKWELL 1.38 1.45 1.45 1.45 1.38 1.38 7,000 9,960 SHANG PROP 3.86 3.9 3.91 3.91 3.89 3.9 154,000 601,310 3.3 3.49 3.5 3.5 3.4 3.49 127,000 433,090 STA LUCIA LAND SM PRIME HLDG 33.7 33.75 33.75 33.75 33.5 33.7 7,373,500 248,425,425 SUNTRUST RESORT 0.77 0.82 0.82 0.82 0.8 0.8 30,000 24,200 1.73 1.75 1.76 1.77 1.73 1.73 865,000 1,509,500 VISTA LAND 1.72 1.73 1.73 1.74 1.73 1.73 2,346,000 4,058,820 VISTAREIT RT

SERVICES ABS CBN 4.5 4.51 4.6 4.63 4.42 4.51 453,000 2,054,400 GMA NETWORK 8.87 8.88 8.9 8.9 8.86 8.88 559,500 4,970,325 1,700 1,710 1,724 1,727 1,700 1,700 185,285 316,042,950 GLOBE TELECOM 1,284 1,285 1,294 1,306 1,284 1,284 55,170 71,428,055 PLDT APOLLO GLOBAL 0.013 0.014 0.013 0.014 0.013 0.013 60,800,000 793,100 9.2 9.22 9.25 9.45 9.1 9.2 4,686,600 43,237,071 CONVERGE 2.99 3.07 2.99 3 2.99 3 40,000 119,900 DFNN INC DITO CME HLDG 2.38 2.41 2.44 2.46 2.36 2.41 2,003,000 4,792,840 1.12 1.13 1.16 1.16 1.13 1.13 949,000 1,083,050 NOW CORP 0.13 0.131 0.128 0.131 0.128 0.131 200,000 25,840 TRANSPACIFIC BR ASIAN TERMINALS 16.42 16.8 16.92 16.92 16.92 16.92 2,700 45,684 1.49 1.5 1.49 1.49 1.49 1.49 30,000 44,700 CHELSEA CEBU AIR 32.65 32.75 32.55 33 32.55 32.65 79,300 2,592,410 INTL CONTAINER 236 238 236 239 235.8 236 753,380 178,499,998 0.55 0.62 0.55 0.55 0.55 0.55 39,000 21,450 LORENZO SHIPPNG MACROASIA 3.94 3.97 4.01 4.01 3.94 3.94 1,106,000 4,386,480 METROALLIANCE A 0.43 0.44 0.44 0.44 0.44 0.44 60,000 26,400 5.3 5.43 5.21 5.3 5.21 5.3 7,400 39,166 PAL HLDG HARBOR STAR 0.78 0.83 0.84 0.84 0.78 0.83 65,000 51,700 BOULEVARD HLDG 0.061 0.063 0.063 0.063 0.063 0.063 890,000 56,070 1.12 1.31 1.15 1.32 1.11 1.32 10,000 11,350 DISCOVERY WORLD WATERFRONT 0.4 0.41 0.4 0.4 0.4 0.4 360,000 144,000 CENTRO ESCOLAR 8.4 8.73 8.5 8.74 8.06 8.74 14,900 129,854 565 566 570 579.5 566 566 130 74,010 FAR EASTERN U IPEOPLE 7.2 7.45 6.52 7.45 6.51 7.2 23,000 163,400 STI HLDG 0.54 0.55 0.54 0.58 0.54 0.55 1,774,000 984,170 1.15 1.16 1.18 1.18 1.15 1.15 72,000 83,510 BELLE CORP 10.78 10.8 10.98 10.98 10.8 10.8 2,987,600 32,404,704 BLOOMBERRY PACIFIC ONLINE 4.28 4.32 4.48 4.48 4.24 4.32 131,000 564,370 0.82 0.83 0.82 0.84 0.82 0.83 398,000 328,200 PH RESORTS GRP 0.69 0.7 0.69 0.72 0.69 0.7 20,504,000 14,484,060 PREMIUM LEISURE DIGIPLUS 8.02 8.03 8 8.14 7.98 8.02 3,607,900 28,961,693 1.79 1.85 1.85 1.85 1.79 1.79 103,000 185,840 PHILWEB ALLDAY 0.156 0.158 0.159 0.159 0.157 0.157 1,650,000 259,860 ALLHOME 1.12 1.13 1.13 1.14 1.12 1.13 799,000 902,720 1.29 1.3 1.3 1.3 1.29 1.29 805,000 1,038,500 METRO RETAIL 28.3 28.45 28.35 28.6 28.05 28.45 545,800 15,446,355 PUREGOLD ROBINSONS RTL 36 36.05 36.35 36.6 36.05 36.05 124,200 4,496,595 77 78 76.8 78 76.8 78 560 43,628 PHIL SEVEN CORP 2.64 2.65 2.66 2.66 2.64 2.64 710,000 1,881,330 SSI GROUP UPSON INTL CORP 1.31 1.38 1.41 1.41 1.34 1.38 55,000 74,170 WILCON DEPOT 21.85 21.9 22.1 22.1 21.7 21.9 1,337,100 29,262,695 0.215 0.222 0.21 0.222 0.21 0.222 80,000 17,070 APC GROUP MEDILINES 0.315 0.32 0.315 0.32 0.315 0.32 160,000 50,450 PRMIERE HORIZON 0.164 0.167 0.169 0.169 0.165 0.165 210,000 34,790 4.4 4.63 4.5 4.5 4.5 4.5 23,000 103,500 SBS PHIL CORP

MINING & OIL ATOK 4.71 4.8 4.7 4.98 4.7 4.8 9,000 43,028 2.82 2.83 2.82 2.87 2.81 2.83 1,698,000 4,812,270 APEX MINING 3.38 3.51 3.38 3.39 3.38 3.38 6,000 20,310 ATLAS MINING BENGUET A 4.59 4.6 4.6 4.65 4.59 4.6 156,000 718,040 4.57 4.75 4.6 4.75 4.6 4.75 62,000 287,840 BENGUET B COAL ASIA HLDG 0.135 0.136 0.14 0.14 0.136 0.136 110,000 15,060 DIZON MINES 2.22 2.5 2.22 2.22 2.22 2.22 1,000 2,220 2 2.01 2.05 2.05 2.01 2.01 413,000 834,010 FERRONICKEL 0.033 0.035 0.038 0.038 0.03 0.033 7,800,000 265,200 GEOGRACE LEPANTO A 0.074 0.077 0.077 0.077 0.077 0.077 10,000 770 0.074 0.077 0.074 0.074 0.073 0.073 350,000 25,820 LEPANTO B MARCVENTURES 0.84 0.85 0.84 0.88 0.84 0.85 1,311,000 1,124,210 NICKEL ASIA 4.74 4.82 4.82 4.87 4.74 4.74 879,000 4,205,150 0.64 0.65 0.67 0.68 0.65 0.65 137,000 89,320 ORNTL PENINSULA PX MINING 3.09 3.12 3.11 3.14 3.08 3.1 605,000 1,867,700 UNITED PARAGON 0.0038 0.0043 0.0044 0.0044 0.0044 0.0044 1,000,000 4,400 4.6 5.24 5.26 5.26 5.26 5.26 1,000 5,260 ENEX ENERGY ORNTL PETROL A 0.0079 0.0081 0.008 0.008 0.0079 0.008 32,000,000 253,700 PHILODRILL 0.0078 0.008 0.0078 0.0078 0.0078 0.0078 1,000,000 7,800 3.76 3.86 3.81 3.86 3.75 3.76 275,000 1,046,590 PXP ENERGY

PREFFERED ACEN PREF B 1,071 1,077 1,077 1,077 1,071 1,071 15 16,125 AC PREF AR 2,482 2,506 2,486 2,486 2,486 2,486 300 745,800 450 498 433 480 433 480 110 48,100 ALCO PREF D 490 495 490 490 490 490 200 98,000 AC PREF B2R BRN PREF A 97.1 97.5 97 97.5 97 97.5 1,500 146,000 34 34.8 33.95 35 33.95 34.8 2,300 80,065 CEB PREF DD PREF 94.6 95 95 95 95 95 4,730 449,350 GTCAP PREF B 952.5 965 978 978 978 978 10 9,780 960 995 960.5 960.5 960.5 960.5 340 326,570 JFC PREF A JFC PREF B 922 946.5 947 947 946.5 946.5 50 47,330 MWIDE PREF 2B 94.5 97.9 98 98 98 98 11,300 1,107,400 93 94 94 94 93.1 94 3,030 282,770 MWIDE PREF 4 MWIDE PREF 5 100.5 100.9 100.9 100.9 100.9 100.9 100 10,090 PNX PREF 3B 25.05 33.45 34 34 34 34 100 3,400 219.4 231.4 219.8 237.4 219.8 237.4 60 13,364 PNX PREF 4 PCOR PREF 3A 985 995 990 990 985 990 370 365,800 PCOR PREF 3B 992 997 997.5 998 997.5 998 110 109,740 996 1,000 1,000 1,000 1,000 1,000 10 10,000 PCOR PREF 4C 72.4 72.9 72.8 72.8 72.8 72.8 10 728 SMC PREF 2F SMC PREF 2L 78 78.5 78 78 78 78 500 39,000 79.25 79.4 79.5 79.5 79.4 79.4 560 44,514 SMC PREF 2O TECH PREF B2D 48 48.5 48.5 48.5 48.5 48.5 400 19,400

PHIL. DEPOSITARY RECEIPTS

52,630,720 -60,780 -95,906,265 -10,610 5,500 -2,499,640 11,640 -39,930 -12,450 -119,690 8,160 -2,095,160 -2,010,458 -4,650 -2,328,446 -3,378,326 -3,040 31,200 196,370,940 -19,030 3,460 -37,765,290 -14,855,005 -5,577,158 91,500 -11,300.00 -16,920 -1,485,065.00 -12,314,452 -235,800 -121,486 5,400 -71,870 -13,330,064 -830 -482,760.00 -253,379.00 23,850 157,430.00 12,950 1,804,520 -1,966,990 -38,242 -243,800 -56,600 -16,401,815 -44,050 -137,810 -559,770.00 42,000 -71,530 -459,310 () -48,750 10,000 -

ABS HLDG PDR 4.16 4.7 GMA HLDG PDR 8.31 8.93 8.94 8.94 8.94 8.94 1,300 11,622

-

TECH WARRANT

-

WARRANTS

0.26

0.27

SMALL, MEDIUM & EMERGING

BALAI FRUITAS HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

0.41 0.98 0.62 1.52 1.02 0.265

0.415 1 0.65 1.58 1.03 0.27

EXHANGE TRADE FUNDS FIRST METRO ETF

104.6

104.8

0.27

0.29

0.265

0.29

370,000

99,400

0.41 0.415 0.41 0.415 500,000 205,050 0.98 1 0.98 1 110,000 108,880 0.62 0.65 0.62 0.65 94,000 58,610 1.52 1.52 1.52 1.52 3,000 4,560 1.04 1.04 1.01 1.03 434,000 442,470 13,570 0.265 0.275 0.265 0.275 600,000 162,150 -105,500

105.3 105.3 104.8 104.8 3,530 370,645 25,237

www.businessmirror.com.ph

FREC solar plant gets BOI green lane endorsement

T

By Andrea E. San Juan

@andreasanjuan

he P22.6-billion floating solar power project of Fuego Renewable Energy Corp. (FREC) has received green lane endorsement from the Board of Investments (BOI).

According to the BOI, FREC is set to build the Pantabangan Floating Solar Power Plant, a 463.995 megawatts (MWac) floating solar photovoltaic (PV) project in Nueva Ecija. The project has an initial investment cost of P22.6 billion.

Spanning 500 hectares on Pantabangan Lake, the BOI noted that the project is scheduled for commissioning in 2025, with its energy output “destined for export to the national grid.”

The BOI said the project site is located within the PantabanganCarranglan Watershed Forest Reserve (PCWR). It added that the location of the transmission lines and other facilities onshore will fall under the protected area/watershed classification.

In terms of economic impact,

the investment promotion agency said the project will be “beneficial” to Filipinos as it will generate up to 2,000 “temporary and permanent” direct job employment opportunities during the project’s construction, commissioning, operations, and maintenance.

Aristotle Natividad, President of FREC, said this is the company’s fourth green lane certificate in their portfolio.

“We have experienced positive responsiveness of government agencies and institutions in our various permitting needs. With this latest green lane endorsement, we expect to achieve the same results and materialize our project at the soonest.

We are very thankful to President Marcos and the BOI for creating policies that make our country

has made investments in four power generation companies in 2022.

Since the approval of Executive Order 18 last February 2023, BOI Director Ernesto C. Delos Reyes Jr. told reporters in a Viber message on Monday that the OneStop-Action-Center for Strategic Investments (OSACSI) has endorsed 36 projects for green lane services.

Of which, 28 are renewable energy projects (floating solar, solar, onshore wind, offshore wind and geothermal.) The BOI official said these 36 projects are worth P1.196 trillion.

The BOI said it has granted green lane endorsements to 13 projects this month. Of the figure, 12 are RE projects and one is a telecommunication infrastructure project. These 13 projects are worth P697.98 billion.

an attractive and efficient market to do business,” Natividad said.

The three other projects of the firm which received green l a ne endorsement a re t he 155.833M Wpk /137.4 80M Wac U bay Sol a r Power Pl a nt of U bay Sol ar Cor p.; t he 19 7. 2 3 8 M W p/ 17 5 . 2 8 7 M Wa c Barotac Viejo Solar Power Project of Magallanes Solar Energy Corp. and the 70.786MWp/59.840MWac Gamu Solar Power Plant of Intramuros Solar Energy Corp.

According to the BOI, FREC is composed of Ignis Energy Philippines Inc. (IEP), ZA Global Partnerships Corp. (ZA Global) and Tierra Sol Local Landholdings Corp.

IEP acts as the technical provider while ZA Global is a prominent Philippine-based renewable energy developer. Tierra Sol engages in real estate activities and

MUTUAL FUNDS

January 29, 2024

NAV

One Year Three Year

per share

Five Year

Return*

Y-T-D Return

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

217.76

-1.33%

-0.08%

-4.15%

-0.14%

1.4836

2.98%

5.9%

-0.12%

1.97%

0.73%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0269

-2.78%

0.15%

-6.14%

-1.98%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7073 -0.79%

-2.74%

-5.85% n.a

First Metro Consumer Fund, Inc. -a

-6.33% n.a

ATRAM Alpha Opportunity Fund, Inc. -a

0.6382

-9.39%

First Metro Save and Learn Equity Fund, Inc. -a 4.7632-3.92%

-3.2% 0.07%

-3.1%

3.33%

0.01%

2.87%

Ovialand ties up with Japan’s Takara Leben

By VG Cabuag @villygc

B

outique housing developer Ov ia land Inc. has partnered with listed Tokyo-based real estate firm Takara Leben to expand its portfolio and bring more premium affordable homes to Filipino families.

Ovialand and Takara Leben will establish a joint venture company that will serve as the developer of the projects.

Takara Leben will serve as a key partner in various projects Ovialand will pursue throughout its strategic regional expansion plans.

“The motivation for this is very simple and straightforward.

We want to build more premier quality homes in more areas of the country for the prosperity and happiness of more Filipino families.

Ovialand is making homeownership an easy, seamless and pleasant experience for the Filipino homebuyer we are working towards making owning a brand new home as easy as owning a brand new car,” Pammy OlivaresVital, the company’s president and CEO, said.

The first project will be Savana South, which will complement Ovialand’s market presence in Laguna. Savana South will be a 6.5-hectare development for 657 homes that will generate P1.97 billion in sales over four years.

Under the agreement, Ovialand and Takara Leben will seek to open other projects together.

Their locations will be strategically determined in accordance with Ovialand’s goal to have a nationwide presence by 2030.

This year, the company is eyeing two projects with its new Japanese partner.

T he p a r t ne r s h ip b e t we e n Ovialand and Takara Leben was arranged by SB Capital Investment Corp., acting as advisor to Ovialand.

Currently, Ovialand’s portfolio is concentrated in Southern Luzon, particularly Savana, Santevi, and Sannera in Batangas; Caliya in Quezon; and Terrazza de Sto. Tomas in Batangas. The company also has developments in Bulacan through Seriya.

“Our joint venture with Takara Leben marks our commitment to continue expanding beyond the core markets we serve and build on the successes we have achieved throughout the years,” Vital said.

“Takara Leben is an experienced developer with a proven track record across various segments of the real estate industry, and we are pleased to be their partner in the Philippines as they continue expanding their presence in Southeast Asia.”

Hiroshi Iwamoto, Director of Takara Leben, said the company’s growth strategy in Southeast Asia involves partnering with housing developers that have differentiated themselves from competitors and are yet to fully realize their potential.

“Ovialand fulfills this criteria through their rapid turnover of high-quality and affordable homes to clients and their ambitious goals of expanding nationwide,” he said.

“We are excited about what the future holds for our joint venture as we are fully aligned with Ovialand’s core value of bringing the premier family living experience to Filipinos.”

By 2033, Ovialand aims to have a nationwide presence. The company has taken its first steps towards achieving that goal by expanding to Central Luzon, specifically in Bulacan with Seriya.

84.58

6.6%

PAMI Equity Index Fund, Inc. -a 44.4459

-4.01%

-0.35%

-3.44% n.a

3.57%

Philam Strategic Growth Fund, Inc. -a

462.32

-1.51%

-0.53%

-3.37%

-0.17%

3.34%

Philequity Dividend Yield Fund, Inc. -a

1.2166

-1.39%

2.58%

-1.79% n.a

0.94%

Philequity Fund, Inc. -a

-1.94%

1.29%

-2.35%

1.66%

Philequity MSCI Philippine Index Fund, Inc. -a 0.8937-1.74%

0.7%

-3.26% n.a

3.09%

Philequity PSE Index Fund, Inc. -a

4.6684

-3.05%

0.53%

-2.67%

1.51%

3.5%

Philippine Stock Index Fund Corp. -a

776.81

-3.2%

0.34%

-2.75%

1.51%

3.5%

Soldivo Strategic Growth Fund, Inc. -a 0.7014

-2.99%

0.4%

-5.12% n.a

2.29%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4812

-0.07%

34.6982

-4.26%

-7.25% n.a

3.16%

-3.17%

-0.08%

-4.25%

0.05%

-3.04% n.a

United Fund, Inc. -a

0.79%

3.44%

-2.97%

-0.08%

-3.01%

3.26%

-0.48%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8811-3.44% 3.1975

1.23%

2.01%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.7151-4.55% -0.31% n.a n.a MBG Equity Investment Fund, Inc. -a

2.76%

3.47% 3.54%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0918-3.39% n.a n.a n.a

3.43%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.0177 n.a n.a n.a n.a 1.29% Philequity Alpha One Fund, Inc. -a

1.0294

-8.45%

-0.63% n.a n.a

1.02%

Philippine Stock Index Fund Corp. -a

943.22

-3.18% n.a n.a n.a

3.53%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 105.5723-2.61% 0.77%

-2.44%

2.2%

3.57%

Primarily invested in foreign currency securities (shares) AsiaPlus Equity Fund, Inc. -b $0.7843

-16.62%

-15.26%

-4.42%

-1.53%

-4.59%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6859

12.73%

-0.22%

7.15% n.a

ATRAM 1.45%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Philippine Balanced Fund, Inc. -a 2.2316

0.05%

-0.66%

0.59%

0.81%

ATRAM Unicapital Diversified Growth Fund, Inc. -a,41.5384

3.54%

2.6%

-2.12%

-2.37%

-1.22%

1.84%

First Metro Save and Learn Balanced Fund, Inc. -a 2.5385

-3.23%

-0.31%

-0.89%

-0.57%

1.67%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1936

-4.86%

0.03% n.a n.a

0.55%

1.65%

1.68% NCM Mutual Fund of the Phils., Inc. -a

1.9687

-2.76%

PAMI Horizon Fund, Inc. -a

3.6163

0.5%

-0.81%

-0.1%

0.8%

1.7%

Philam Fund, Inc. -a

15.8357

0.25%

-1.5%

-0.78%

0.51%

0.49%

1.75%

Solidaritas Fund, Inc. -a

2.0642

0.01%

0.27%

1.85%

-0.91%

1.36%

1.79%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4636

-0.58%

-0.28%

-1.97%

0.29%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9179

2.08%

-1.06% n.a

1.5%

-1.35%

1.63%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9478-0.06%

-1.9% n.a n.a

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8666-3.17%

-1.91% n.a n.a

0.8% 2.3%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8476-3.76%

-1.97% n.a n.a

2.66%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03264

-1.18%

-5.81%

-1.67%

0.06%

PAMI Asia Balanced Fund, Inc. -b $0.8784

-10.18%

-1.84%

-0.93%

-4.01%

-10%

-1.72%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3103

7.43%

-1.92%

4.26%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0338

2.41%

-4.06%

0.83% n.a

3.15%

0.43% -0.69%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 391.25

3.1%

1.75%

2.57%

2.31%

ATRAM Corporate Bond Fund, Inc. -a

1.9144

1.4%

0.2%

0.47%

0.19% 0.1%

0.29%

Cocolife Fixed Income Fund, Inc. -a

3.3342

2.3%

1.19%

2.26%

3.75%

0.27%

Ekklesia Mutual Fund, Inc. -a 2.2794

2.56%

-0.26%

1.24%

1.5%

-0.29%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4519 Philam Bond Fund, Inc. -a

1.3%

0.02%

1.97%

1.87%

-2.54%

2.06%

1.11%

0.08%

Philam Managed Income Fund, Inc. -a

1.382

3.86%

1.49%

3.17%

1.84%

0.64%

Philequity Peso Bond Fund, Inc. -a

4.0338

2.47%

0.4%

2.51%

1.78%

-0.01%

Soldivo Bond Fund, Inc. -a

2.49%

0.42%

2.94% n.a

0.15%

4.3012

1.0513

1.28%

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

3.3031

3.06%

1.04%

3.26%

2.33%

Sun Life Prosperity GS Fund, Inc. -a

2.28%

0.29%

2.43%

1.69%

-0.3%

1.7641

-0.22%

-0.29%

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

1.013 n.a n.a n.a n.a

0.54%

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

$495.97

2.73%

0.76%

ALFM Euro Bond Fund, Inc. -a Є214.27

1.6%

-0.77%

1.97%

2.52%

ALFM

0.15%

0.06%

0.81%

0.13%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0297-1.16%

-7.13%

-1.99%

0.06%

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

2.9%

-2.06%

-0.08% n.a

-3.93%

-3.16%

-0.69%

-1.26%

PAMI Global Bond Fund, Inc. -b $0.8515

-2.72%

-7.97%

Philam Dollar Bond Fund, Inc. -a

$2.2832

2.27%

-3.42%

0.75%

1.81%

-1.58%

Philequity Dollar Income Fund, Inc. -a $0.061044

1.33%

-0.76%

1.32%

1.59%

0.21%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.748

-2.12%

-5.16%

-1.07%

0.39%

-0.4%

-3.02%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 137.15

2.47%

2.06%

First Metro Save and Learn Money Market Fund, Inc. -a 1.1112

2.82%

1.81%

3.3%

1.95% n.a n.a

0.2%

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.37892.86%

2.03%

2.43%

2.05%

0.25%

0.23%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.94

4.21% n.a n.a n.a

0.34%

Primarily invested in foreign currency securities (shares) Prosperity Dollar Starter Fund, Inc. -a $1.1008

2.72%

1.48%

1.58% n.a

Sun Life

0.3%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.73410.67% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a

1.502

18.35%

1.44%

9.37% n.a n.a

2.23% Sun Life Prosperity World Income Fund, Inc. -a,1

1.0115 n.a n.a n.a n.a

1.18%

Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.8011-2.63%

-6.5% n.a n.a

-0.2%

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

1 - Launch date is August 22, 2023.

2 - Launch date is October 6, 2023.

c - Listed in the PSE.

3 - Launch date is May 25, 2023.

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

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

www.news.businessmirror@gmail.com

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, January 30, 2024 B3

Complaints vs HMOs, MBAs increased in ’23

C

By Reine Juvierre S. Alberto

OMPLAINTS against Mutual Benefit Associations (MBAs) and Health Maintenance Organizations (HMOs) by the insuring public increased last year, data provided by the Insurance Commission (IC) revealed.

Based on the IC’s latest data, complaints against MBAs rose by 178.26 percent with a total of 64 complaints in 2023 compared to 23 in 2022. As of December 29, 2023, there were 42 MBAs with valid and existing cer-

tificate of authority, based on a list by the insurance industry regulator.

HMOs, meanwhile, garnered 313 complaints, up by 33.76 percent from 234 in 2022, the data showed. The IC said that as of April 2022, it has

Resiliency of financial plans

W

E tend to think of financial plans as a static oneand-done blueprint to manage and improve our finances that we can take our hands off once finalized and implemented. On the contrary, we can safely assume that the original financial plan that we have made will change as we go along with our lives. These changes may be planned such as change of preferences or lifestyle however some changes could also be unexpected and not planned for.

This is where the resiliency of a financial plan comes into play and will make financial setbacks more bearable.

How can a household enhance the resiliency of a financial plan?

The two most common strategies would be to increase the emergency fund and to have appropriate insurance coverage.

For the emergency fund, it is important to have information on the nondiscretionary expenses (expenses for needs) of the household and to have provision for 6-months’ worth of nondiscretionary expenses covered. Examples of nondiscretionary expenses include food, mortgage, utilities, insurance, education, and work-related transportation expenses. Setting aside discretionary expenses (expenses for wants) when setting up emergency fund results to a more manageable emergency fund preparation.

On the other hand, securing appropriate insurance coverage not just for the breadwinner but for the dependents as well improves the resiliency of a financial plan. It is important for the breadwinner/s to have life insurance coverage that has provisions for critical illness and disability and an active HMO policy to defray hospitalization costs. As for the dependents of household, the minimum coverage suggested is an extension of HMO policy of the breadwinner/s – additional insurance coverage would be based

John Hero Salvador

personal finance on the capability of household to accommodate additional insurance payments.

Another way to enhance resiliency of a financial plan is to have multiple sources of income. The most common way of achieving this is to have at least two breadwinners in the family. A more challenging strategy for this would be to create business outside of work that generates an additional income stream for the household. Creating a part-time business leveraging one’s skills and interests will make ventures into part-time businesses more manageable.

A final suggestion to improve resiliency of financial plans is to avoid lifestyle creep whenever there are improvements in a household’s financial situation, whether it be a windfall or an increase in disposable income. Practicing the habit of living below one’s means and having the resistance to keep up with the Joneses will increase the likelihood of a household achieving its financial goals and weathering financial setbacks that may arise along the way.

The adage “Nothing is permanent in this world except change” holds true even for financial plans.

Our respective financial plans will likely change in the future and it is important that we improve our resiliency as we navigate through the changes that life has in store for us.

John Hero Salvador is a registered financial planner of RFP Philippines. To learn more about investment planning, attend the 105th batch of RFP program this January. To register, e-mail info@ rfp.ph or text 0917-6248110. Salvador’s views here are personal and do not necessarily reflect those of the BusinessMirror.

A

potentially compromise your personal and financial data.”

AFPI said it encourages purchasing beep™ cards from its official outlets, such as LRT1, LRT2, and MRT3 stations, convenience stores and online through the official Shopee and Lazada platforms.

The company also encourages consumers to visit its For accurate information, please visit AF Payments Inc. website https://beep.com.ph/ and official beep™ social media accounts on Facebook, X (formerly Twitter) and Instagram platforms. AFPI, a consortium of Metro Pacific Investments Corp. and Ayala Corp., also encourages to report to them any concerns or any questionable activity using these official channels.

“We appreciate the public’s consistent support and dedication to ensuring the safety and security of all beep card users,” Moreno said.

court cases involving disputes on insurance claims have been decided through adjudication, 30.77-percent higher than the 39 cases recorded in 2022. The IC, to note, has jurisdiction over disputed insurance claims up to a maximum amount of P5 million under RA 10607 (Insurance Code of 2013).

Section 439 of the Insurance Code also provides that the “power of the Commissioner does not cover the relationship between the insurance company and its agents/ brokers but is limited to adjudicating claims and complaints filed by the insured against the insurance company.”

The IC stated that pre-need companies, meanwhile, decreased by 46.54 percent with 85 complaints in 2023 from 159 complaints

recorded in 2022.

IC data also showed complaints against life insurance companies reduced by 14.19 percent to 665 from 775 in 2022. Complaints against non-life insurance companies also declined by 11.70 percent with 838 in 2023 from 949 the previous year, based on the data.

Insurance Commissioner Reynaldo A. Regalado pointed out that the efficient and prompt resolution of complaints will increase the insuring public’s confidence that the insurance products they purchase will protect them during unfortunate events such as death or loss of livelihood.

“We believe that if the insuring public becomes aware that valid insurance claims are paid out promptly, and disputed claims are resolved ex-

peditiously either through the mandated complaints resolution channels of insurance companies, our claims mediation process, or through case adjudication,” Regalado said at the 75th Anniversary celebration of the IC last week.

Finance Secretary Ralph G. Recto, who was also present in the anniversary celebration, instructed IC to uphold its efforts in enforcing the rights of financial consumers and ensure the financial stability of the commission’s regulated entities to protect the insuring public.

“A credible insurance industry encourages more people to avail themselves of financial protection.

That is important to strengthening our people’s financial resilience in the face of so many uncertainties,” Recto said.

Union Bank plans stock rights offer as income drops

By VG Cabuag

Beep card issuer warns vs ‘free ride’ promo fake F Payments Inc. (AFPI), the owner of the beep™ card brand used on Metro Manila’s Light Rail Transit (LRT), has raised concerns about an online promotion that guarantees “12-month free subway rides using beep™ cards,” which can be seen on the “Manila Metro” Facebook page.

“AFPI categorically denies involvement in this misleading, bogus, and fraudulent promotional scheme,” read the company’s statement issued on January 26.

We have “not authorized the selling of any ‘12-month free subway rides card’ or any similar promotion,” AF Payments CEO Jonathan Juan D. Moreno was quoted in the statement as saying. “We urge beep™ card users and commuters to prioritize safety by being vigilant and refraining from clicking on or subscribing to any suspicious links that could

issued certificates of authority to 28 HMOs for license year 2019-2023.

Other complaints referred through the “Hotline 888” increased to 19.65 percent with a total of 3,452 complaints from 2,885 in the previous year.

The IC said through a statement it issued last Monday, that all 5,417 complaints by the insuring public were resolved pursuant to the mandates of Republic Act (RA) 11765 or the “Financial Products and Services Consumer Protection” law.

The grievances were addressed “either through amicable settlement between the complainants and the corresponding IC regulated entities, or through endorsement of the complaints for formal adjudication,” the IC noted.

According to the IC, 51 formal

@villygc

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BOITIZ-led Union Bank of the Philippines is set to raise some P10 billion in its stock rights offering while reporting a drop in its income last year.

The bank said it is offering its stock rights offer to all existing stockholders, net proceeds of which will be used to fund the capital infusion to UnionDigital, projected retail loan availments, and for general corporate purposes.

The company said its income last year fell to P9.2 billion, a drop of 26 percent from the previous year’s P12.53 billion. Union Bank’s net income dropped despite net revenues increasing by 36 percent to P71 billion from the previous year’s P50.24 billion.

Topline revenues posted robust growth driven by a strong consumer business, higher margins, and customer transaction fees, according to the lender. The bank’s bottom line, however, was affected by integration

costs related to the Citi consumer business acquisition, the bank said.

“We have surpassed our customer growth targets. Our customer base is now close to 14 million. The strategic shift towards a more predictable, recurring income model has proven successful, reflected in our above-industry net interest margins and fees as a proportion of our balance sheet size. Our overall profitability, however, was affected by front-loaded costs incurred in the integration of new businesses,” Manuel R. Lozano, the company’s CFO, said.

Lozano said the company is temporarily carrying the cost of running on two systems.

“We are paying Citi a fee to support the business on their platform while we develop and fully transition all ex-Citi retail customers to our own system. These investments are necessary to ensure the sustainability of our consumer business growth moving forward,” he said.

Edwin R. Bautista, the bank’s president and CEO, said the acquired

NG surpasses ₧75B goal in sale of T-bills for Jan.

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HE national government raised P81 billion from Treasury bills this month, surpassing its P75 billion goal, as rates remained favorable despite a series of yield corrections.

The Bureau of the Treasury (BTr) on Monday made a full award of its last Treasury bills (T-bills) auction for the month, raising the programmed amount of P15 billion.

For the 90-day T-bills, the average rate settled at 5.398 percent between 5.300 percent to 5.424 percent. The 182-day debt papers fetched an average rate of 5.810 percent with bids ranging from 5.795 percent to 5.843 percent. The 364-day government IOUs, meanwhile, had an average rate of 6.076 percent ranging from 6.020 percent to 6.100 percent.

Monday’s auction was 2.5 times oversubscribed, attracting P38.137 billion in total tenders, more than twice versus the offering of P15 billion.

According to Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort, the T-bills average auction yields again corrected higher for the sixth straight auction.

This, Ricafort explained, is “similar to the weekly increase in the comparable short-term PHP BVAL yields by 0.04-0.09; most of which are unusually slightly higher versus comparable PHP BVAL yields as of January 26, 2024, especially the 6-month PHP BVAL lower at 5.75 percent and the 1-year PHP BVAL lower at 6.04 percent.”

The RCBC executive further said that the T-bill auction also went up after the recent volatility in the dollarto-peso exchange rate near 3-month highs amid some political noises,

especially over the weekend and the reiteration of hawkish signals locally on possible local policy rate cut in the first half of the year.

However, Ricafort said, the cut is “unlikely” as global oil prices near its 2-month highs “amid increased tensions at the Red Sea area that increased shipping costs and caused some shipping delays [as well as due to] the 10-year US Treasury among 1.5-month highs at 4.13 percent.”

The RCBC economist added that a hawkish and tight monetary policy stance could be supported by the higher T-bill auction yields, which came ahead of the Philippines’s latest gross domestic product data on January 31, “which was reported to be stronger.”

This is because El Niño drought risks until the second quarter of 2024 could reduce the output of rice and palay, which could lead to price increases and overall inflation, Ricafort said.

“Higher T-bill auction yields in recent weeks are also due to the fact that BSP [Bangko Sentral ng Pilipinas] interest rate benchmarks are still higher, such as the 1-day/overnight auction yield… now higher at 6.45 percent; key 1-day/overnight policy rate at the 16-year high of 6.50 percent; 7-day and 14-day TDF auction yields at 6.6 percent levels; 28-day and 56-day tenors at 6.77 percent levels,” the economist said.

Ricafort said that the higher T-bill yields are also partly due to the issuance of Retail Treasury Bonds (RTBs) in the first quarter of the year, which “would mean more supply of RTBs/GS in the market, though would match the large, P700 billion maturing RTBs in early March 2024.”

Reine Juvierre Alberto

Citi consumer business has surpassed expectations, while UnionDigital attained profitability throughout its first full year of operations.

“We are experiencing early returns on these strategic investments, with leading indicators pointing towards a sustained increase in transactions over time. This is evidenced by a growing individual depositor base, an uptick in new-to-bank credit cards, record-breaking downloads of our mobile app, and net promoter scores that surpass industry standards. Our commitment extends to completing the seamless integration of these new businesses this year. Immediately after, you will see a stronger and more profitable UnionBank,” Bautista said.

The bank said its net interest margin went up to 5.5 percent from 4.8 percent last year.

This resulted to net interest income reaching P52 billion or 34 percent higher year- on-year. The higher margin is attributable to the remarkable growth in consumer lending.

The bank’s consumer loans now account for 58 percent of total loan portfolio, which is diversified across credit cards, mortgage loans, personal and salary loans and vehicle loans. Non-interest income was up by 41 percent to P19 billion, with feebased income higher by 54 percent to P10 billion. The growth in fees was a result of the growing customer transactions such as bills payments, funds transfers, interchange, and other card-related fees.

Operating expenses were up by 43 percent to P45 billion on account of the full-year impact of the acquired Citi consumer business and UnionDigital.

The company also declared cash dividend of P0.80 per common share in favor of all stockholders of the bank, payable from the available unrestricted retained earnings of the bank as of December 31.

The record date for stockholders entitled to the cash dividend is February 13, and payment date is set on February 20.

Bank Marketing Association names new board directors

T

HE Bank Marketing Association of the Philippines (BMAP) has announced its recently elected board of directors and officers for 2024.

Mai Gacilo Sangalang (Standard Chartered Head of Corporate Affairs, Brand and Marketing) was re-elected for the third term as President. Other officers are: Eric Montelibano as Vice President (CityState Savings Bank’s Integrated Marketing Communications Consultant), Judith Songlingco as Secretary (Philippine Business Bank Head of Corporate Affairs and Brand Marketing), Emmanuel Mari Valdes as Treasurer (RCBC Senior Vice President/Head of Retail Banking Customer Acquisition and Retention Division) and Janette Abad Santos as Auditor (BPI Direct BanKo Vice President and Head of Marketing Division).

Miguel Angelo Villa-Real (Veterans Bank First Vice President for Marketing and Communications) continues to serve as Director for Industry Relations, Banking Code and Financial Inclusion, Edelyn Castro (Maybank’s Officer-in-Charge of Corporate Affairs) as Director for Programs, Chairell Winston Almendras (BPI Vice President and Head of Institutional Brand Management and Digital Division) as Director for Membership, and Hannah Regina Lopez (BDO Unibank First Vice President/Officer-in-Charge, Marketing Communications Group) as Director for Ways and Means. Newly elected Direc-

tor this year is Tin-tin Siapno (Union Bank of the Philippines Senior View President and Head of Digital Marketing) as Director for Publicity and Digital Marketing. Maria Luz Javier (President and CEO of Avanza, Inc.) continues to serve as Election Chair.

Established in 1974 and set to celebrate its 50th anniversary this year, BMAP aims to continue elevate the practice of bank marketing and communications in the country through membership and public education, industry collaboration, collective participation and by providing recognition to outstanding brand and marketing campaigns and projects of financial institutions through the biennial BMAP Bank Marketing Awards program. With 26 member banks and associate members, BMAP works closely with the Bangko Sentral ng Pilipinas (BSP) and other industry associations to undertake programs and activities that enhance and promote the welfare of the banking industry and its customers.

The BSP and the BMAP have been jointly promoting financial education and inclusion among Filipinos, the youth and students through various programs such as “Banking On Your Future,” “BSP Reaches Out (Project BRO),” “BSP Annual Financial Education Expo” and information campaigns to protect and educate the general banking public on cyber security and fraud, secure use of electronic banking among others.

B4

Tuesday, January 30, 2024 • Editor: Gerard S. Ramos

Art

BusinessMirror

www.businessmirror.com.ph

NCCA on National Arts Month 2024: A celebration and an advocacy NATIONAL Commission for Culture and the Arts (NCCA) Subcommission on the Arts commissioner and head of the National Committee on Music Arvin Manuel R. Villalon (from left), NCCA chairman Victorino Mapa Manalo, NCCA arts ambassador and Miss Universe 2018 Catriona Gray, and NCCA executive director Oscar G. Casaysay

TODAY’S HOROSCOPE

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Wilmer Valderrama, 44; Christian Bale, 50; Phil Collins, 73; Charles S. Dutton, 73.

HAPPY BIRTHDAY: Laboring over things you cannot control wastes time. Set your sights on getting to the root of any dilemma that comes your way and massaging situations you can rectify. Revise contracts, subscriptions and money matters by working directly with institutions or authorities. Choosing to simplify your life will put your mind at ease, allowing you more time to enjoy life and loved ones. Your numbers are 8, 13, 25, 27, 33, 41, 48.

ARIES (March 21-April 19): Backtrack to understand a situation better. Put anger aside when dealing with people who can influence your future. Listen and offer reasonable and factual responses to precipitate the results you want to achieve.

Be mindful and you’ll come out on top. ★★★

TAURUS (April 20-May 20): Learn from mistakes, and you’ll gain support to enforce change. Consider the costs involved mentally, emotionally and financially before you begin. Don’t trust others to relay valid information. Go directly to the source for facts, and you’ll make the right decision. ★★★

M

ORE than a celebration of Filipino artistic excellence, this year’s National Arts Month (NAM) serves as an advocacy for the “integration of the arts into our social fabric,” according to National Commission for Culture and the Arts (NCCA) chairman Victorino Mapa Manalo.

Leading last week’s press conference for the upcoming NAM 2024 this February, Manalo said that achieving the goal means promoting the arts in local communities.

“Let us engage in meaningful conversations that challenge and broaden our perspectives, nurturing an environment where expression is met with intellectual curiosity and appreciation,” Manalo said. The NCCA chairman cited Angono, Rizal, as a model community where artistic culture thrives.

Recognized as the Philippines’ art capital, Angono produced two National Artists: Carlos “Botong” Francisco for painting and Lucio San Pedro for music.

“We hope that through activities like NAM,” Manalo said, “we will continue to produce great artists of similar stature.”

Promulgated by then President Corazon Aquino in 1991, Presidential Proclamation No. 683 declared February of every year as National Arts Month. The idea was to celebrate the artistic excellence and pay tribute to the uniqueness and diversity of Filipino heritage and culture.

This year, NAM banners the theme “Ani ng Sining, Bayang Malikhain.” The theme outlines the notion that the bountiful harvest of a Filipino creative nation is a product of collective talent. “Bayang Malikhain,” according to the NCCA, “signifies a Filipino society that places high value on imagination, innovation, and artistic expression as integral components of our identity and progress.” NAM 2024 likewise aspires to synergize the arts into the nation and its subcommunities, including LGBTQIA+, PWD, IP, youth, and seniors, among others.

The celebration of NAM 2024 begins with an opening ceremony on February 23 at Rizal High School in Pasig City. The event strategically targets the youth population of 14,000 high school students to uphold the objectives of NAM to conserve, promote and popularize Filipino artistic creations. The ceremony will feature a string of performances and immersive workshops.

An art fair is also lined up for NAM 2024 at the end of February. In partnership with LUSONG Luzon Arts and Culture Network Inc., ARTIST Inc., and the Provincial Government of Laguna, the fair will showcase ARTIST Inc’s Tremolo Rondalla, Children’s Literature Performances (CLAP), and more. The art fair is slated on February 29, 2024, at Laguna Sports Complex.

Meanwhile, as with previous editions, this year’s NAM features flagship projects of the Subcommission on the Arts. Here are some of the flagship projects

GEMINI (May 21-June 20): You can wheel and deal, but recognize what’s at stake and that whoever you deal with will do whatever is necessary to beat you at your own game. When in doubt, take a pass, regroup and start again. Don’t take an unnecessary risk or debt. ★★★★★

CANCER (June 21-July 22): Research, think and develop a plan that works for you and will be in your best interest. Don’t feel you have to follow the crowd or make decisions to please someone else. Do what works for you, and you’ll find a comfortable path forward. ★★

LEO (July 23-Aug. 22): Process what you want to achieve and turn your thoughts into a reality. Simple, affordable plans will bring excellent results that please those who rely on your judgment. Financial discipline and hard work will set an example for those you mentor. ★★★★

from SCA’s seven national committees for NAM 2024: ■ Architecture and Allied Arts. A series of seminars and workshops, titled “Saan Ka Lulugar [SKL] 2024: Resiliency in the Built and Designed Environment,” is extending the discourse on architecture and allied arts that began in 2021. This year, SKL highlights the youth’s role in shaping the nation’s future with the theme “Bata, Bata, Saan Ka Lulugar sa Kinabukasan ng Bayan?” The SKL Youth Seminar Series will be held from February 24 to 25 in Laguna, March 5 in Leyte, and March 21 in Cavite.

■ Cinema. The National Committee on Cinema (NCC) presents Cinema Rehiyon, an annual noncompetition festival that features some of the finest works by filmmakers from the various regions in the country. Running from February to April, the festival mounts different activities nationwide, including a film appreciation workshop designed by NCC vice chairman and BUSINESSMIRRO� columnist Tito Valiente. Austerely titled “Paano Magbasa ng Pelikula [How to Read a Film],” the workshop will take place in Rizal, Ormoc City, Leyte, Laguna, Zamboanga, and other official NAM 2023 partner cities.

■ Dance. The touring dance concert “Sayaw Pinoy,” founded by its artistic director Dr. Shirley Halili-Cruz, stands as the National Committee on Dance’s longestrunning flagship project within the NAM. In this year’s NAM, Sayaw Pinoy 2024 will present Sayaw Pinoy National Tiktok Dance Challenge, featuring the NAM 2024 festival song. There’s Sayaw Pinoy Online Dance Lecture Series as well, where dance experts will address emerging issues and concerns regarding the status of dance in the post-pandemic era. The online lecture series is comprised of four online sessions scheduled to run throughout February.

■ Dramatic Arts. The 18th TANGHAL University and Community-based Theater Festival emphasizes the pivotal role of theater and its practitioners in addressing social and environmental challenges. The festival features nationwide theater and storytelling sessions for children, beginning on February 28 in Los

Baños, Laguna.

■ Literary Arts. “SURAT-TANGHAL: Reading the Regions 2024” is composed of two component activities, SURATalakayan and TANGHAL-AKDA, which focus on the discussion and performance aspects of chosen literary works from various regions.

The National Committee on Literary Arts’ flagship project also serves as a precursor to the upcoming 2024 National Youth Literary Festival.

■ Music. Musikapuluan is a project of National Committee on Music (NCM) that seeks to provide space to music groups and artists while offering a wide spectrum of music cultures. With a goal to reach audiences across the nation, it will simultaneously use digital and physical venues for their activities. As part of the opening of NAM 2024, NCM will hold a lecturedemo and showcase kulintang, Cordillera music, and pop music on February 23 at Rizal High School in Pasig City.

■ Visual Arts. Bagong Biswal 2024 will attempt to bring Filipino art to a broader regional audience, utilizing online platforms and physical exhibits in select spaces. Bagong Biswal consists of Sining Sanayan, Sining Sinag, Sining Biswal Scene, and Sineng Sining. Meanwhile, the “Ani ng Dangal Awards” or Harvest of Honors Awards is an annual event that serves as the pinnacle and culmination of the NAM. It seeks to acknowledge artists who have received the highest international awards and recognition. This year’s Ani ng Dangal Awards lists 25 endorsed awardees to be honored on February 29 at the Malacañang Palace.

According to NCCA executive director Oscar G. Casaysay, NAM’s series of nationwide events and activities proves once again “the ability of arts to pollinate from communities to communities.”

“I invite everyone to immerse in the abundant harvest of our arts and culture that defines our community as a whole,” Casaysay said. “May this National Arts Month pay homage to our artists and creators, highlighting their role in nation building.” ■

VIRGO (Aug. 23-Sept. 22): Get out, stretch your legs, take a deep breath and start something meaningful. Don’t feel you must overspend to impress when what you have to offer from the heart is plentiful. It’s your choice to adjust what you don’t like. ★★★

LIBRA (Sept. 23-Oct. 22): Don’t overdo it when moderation is the best way forward. Get a second opinion if you don’t like what you hear.

Gathering information will help you get what you want or need at a price you can afford. ★★★

SCORPIO (Oct. 23-Nov. 21): Rely on those you trust to point you in the best direction.

Talks will lead to positive change and more incredible opportunities. Use your imagination and determination to make changes that lead to peace of mind. Make health and relationships your priorities. ★★

SAGITTARIUS (Nov. 22-Dec. 21): Study the logistics of any situation you face that will make your life easier and less stressful. Don’t let anyone interfere or push you toward something that benefits them more than you. ★★★★

CAPRICORN (Dec. 22-Jan. 19): Listen, but don’t allow anyone to take advantage of you.

Implement a domestic change to lower your overhead, not add debt. Use common sense and say no to temptation. Concentrate on what’s doable and explore the best route forward. ★★

AQUARIUS (Jan. 20-Feb. 18): Listen to common sense and focus on cutbacks that make life manageable. Don’t wait until it’s too late. Address issues and you’ll find solutions. Take the initiative, and you’ll come up with workable solutions to any situation you encounter. Use your voice and experience to prosper. ★★★★★

PISCES (Feb. 19-March 20): Collaborate with like-minded individuals who feed your creative mind, and you’ll discover a lucrative way to use your skills. Choose to partner with someone who brings out your best. The changes you enforce will lead to financial growth. ★★★ BIRTHDAY BABY: You are intuitive, wise and thorough.

You are charitable and diverse.

‘the gravity of the situation’ BY DYLAN SCHIFF The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Adrian Johnson/Jared Goudsmit

ACROSS 1 How you may feel after meditation 5 Wild hog 9 Like proofed dough 14 Follow orders 15 Ctrl+Y 16 Singer of “19,” “21,” “25” and “30” 17 “I’m bored” 18 Cheese in queso relleno 19 Denial from a private 20 Venus Williams’ sister 22 Disorderly state 24 Cover some ground?

25 Pwned 27 Lack of transparency 29 Take into account 33 Canyon’s reverberation 34 Floral wreath 35 Indian wrap 36 Much like 39 Like a souffle 41 Renewable energy option 43 Not completely shut 44 Panelist on The View, say 46 “If all ___ fails...”

48 Downed a sub, maybe?

49 Letters anticipating the weekend 50 Graduation handouts 52 Takes up the challenge 55 Work the soil 56 Real jerk 57 Line of rotation 59 One concerned with tees and wedges 63 Try to tear 65 Escapade 67 This clue is one 68 Paul, in Italian 69 Radio knob 70 Princess-turned-queen of Arendelle 71 Available, as ale 72 Crispy part of a brownie 73 Prepare, like a salad DOWN 1 Inner ears?

2 Competent 3 Titular Shakespearean king 4 “I’m saved!”

5 Do I choose pancakes or waffles?

6 British ref. book

7 Actor DeVine of Pitch Perfect 8 Word after Quebec, in the NATO alphabet 9 Plunder 10 Words at the altar 11 Do I choose a panel or roundtable discussion?

12 The Waste Land poet T.S. 13 Like a geek 21 The first “N” in CNN 23 Do I choose Britney or Jamie Lynn?

26 Matador’s opponent 28 Smoothie seed 29 Guinness on screen 30 Child’s brick 31 Do I choose chandeliers or sconces?

32 All worked up 37 “Adios!”

38 Unrefined metals 40 Discipline with hatha and vinyasa varieties 42 Landed 45 Rest upon 47 “Queen of Jazz” Fitzgerald 51 Hardly fresh

52 Silent brother in Duck Soup 53 Like most of the world’s population 54 Character usually seen in a quinceanera?

58 Uttered 60 Triceratops, e.g., informally 61 Travelers’ stops 62 JFK figures: Abbr.

64 In the style of 66 Recycled T-shirt, perhaps Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos • Tuesday, January 30, 2024

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Everything’s coming up roses for Maja Salvador MAJA SALVADOR Taylor Swift kisses Kansas City Chiefs tight end Travis Kelce after an AFC Championship NFL football game against the Baltimore Ravens on January 28, 2024. AP

Taylor Swift greets Super Bowl-bound Travis Kelce with a kiss after Chiefs win the AFC title game BALTIMORE—Taylor Swift gave Travis Kelce a short peck and embraced him with a big hug after he and the Kansas City Chiefs beat the Baltimore Ravens to advance to the Super Bowl, and then the two locked lips with a smooch seen around the football world.

Sealed with a kiss, Swift now might be Las Vegas bound to cheer on her boyfriend as he and the Chiefs seek back-toback titles... “Ready For It”?

Swift, almost certainly the biggest star on the planet whose romance with Kelce became one of the prominent stories this NFL season, was front and center throughout the Chiefs’ 17-10 victory in the AFC championship game and their celebration afterward.

Before accepting the Lamar Hunt Trophy for the fourth time in five years, coach Andy Reid, standing on stage, found Swift in the crowd and pointed at her. Swift pointed back.

She and Kelce walked arm and arm around the field afterward, long after many of his teammates had gone to the locker room. Kelce asked where his brother Jason was, and Swift stepped away for them to have a moment.

Jason Kelce, also a Super Bowl champion and an All-Pro center with the Philadelphia Eagles who lost to the Chiefs in last year’s Super Bowl, hugged Travis and told him to finish the job again. Travis asked Jason, who stole the show last week in Buffalo by celebrating the Chiefs’ win shirtless in the cold, if he was going to keep his shirt on this time.

Travis Kelce never made it to speak to reporters afterward.

Swift was clearly a bigger priority for him.

The only thing that endangers Swift being at Allegiant Stadium when the Chiefs face either the San Francisco 49ers or Detroit Lions in the Super Bowl on February 11 is her Eras Tour schedule. She has concerts set for Tokyo on February 9 and February 10, but the time difference would allow her to be on hand for the game. AP

‘Saltburn’ actor Barry Keoghan named Hasty Pudding’s Man of the Year CAMBRIDGE, Massachusetts—Harvard University’s Hasty Pudding Theatricals has named Barry Keoghan, best known for his roles in Dunkirk, The Killing of a Sacred Deer, Eternals, and The Banshees of Inisherin, as the recipient of its 2024 Man of the Year Award.

Keoghan recently starred in the comedy psychological thriller Saltburn and can be seen costarring in the series Masters of The Air, a World War II drama focused on bomber crews.

The Man of the Year festivities will take place February 2. Hasty Pudding Theatricals will host a roast for Keoghan and present him with his pudding pot. Afterwards, Keoghan will attend a performance of the Hasty Pudding Theatricals’ 175th production Heist Heist Baby!

“With experience as both superhero and supervillain, Barry Keoghan is the perfect choice to fight to earn his Pudding pot,” Man of the Year Coordinator Aidan Golub said.

Hasty Pudding Theatricals, which dates to 1844 and calls itself the third-oldest theater group in the world, has handed out a Man of the Year Award since 1967. Last year’s recipient was Bob Odenkirk.

Odenkirk reprised the role of Saul Goodman in Better Call Saul, which earned him three Critics Choice TV awards and multiple Emmy, Golden Globe, and SAG Award nominations.

Past recipients of the Man of the Year Award include Clint Eastwood, Tom Hanks, Robert De Niro, Harrison Ford, Samuel L. Jackson and Ryan Reynolds.

The awards are given out to people who have made lasting and impressive contributions to the world of entertainment.

Hasty Pudding Theatricals’ 2024 Woman of the Year Award, which dates to 1951, has not yet been announced.

Jennifer Coolidge, who saw a career resurgence following her Emmy-winning turn as Tanya McQuoid-Hunt in the HBO series The White Lotus was given the award last year. Previous winners of the Woman of the Year Award include Meryl Streep, Viola Davis and Debbie Reynolds. AP

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HERE is no doubt that Maja Salvador is on a roll.

The new year opened with good news that Salvador bagged the Asian TV Awards Best Host for the Game/Quiz Program category. For some personal reason or maybe she was not expecting to be a strong contender, Salvador did not fly to Ho Chi Minh in Vietnam to attend the awards ceremonies. So, when news reached her that she won for her hosting chores in the show Emojination, Salvador was more than surprised.

“It was something that I never expected. Even the nomination came as a surprise, you know. Being shortlisted among many brilliant hosts in the entirety of Asia for something which not so many knew about is already a big feat, what more being declared the winner ’di ba?”

For those who do not know, Emojination is a game show on TV5 where two teams consisting of two players each compete against each other in a series of challenges to gain ‘emoticoins’ and the team with the most coins collected proceeds to play in the final round where big prizes await the team members.

Just before the Christmas holidays, Salavador and her husband Rambo Nuñez also announced over social media that they are expecting their first child.

The couple got married in very intimate ceremonies in Bali sometime in August last year, and the baby is due this May. In a few weeks time, the Nuñezes are expected to have a gender reveal event and closed family members and good friends are expected to be there to share the joy of Rambo and Maja.

“I am 35, and the coming baby is already a big blessing from God, so whatever gender we will be blessed with, we are sure that he or she is a true bundle of joy, a priceless gift from God!” Salvador enthused.

And because Salvador’s energy cannot be contained even when she is about to enter her third trimester, she has unwrapped another surprise for her fans and followers.

Known more as an actress and dancer, she has released her latest single, titled “Sugal.” For this undertaking, Salvador is wearing more than just one hat as she is also the producer and lead content creator.

“Not many know that I have previously released two songs: ‘Hiling’ and ‘Nakawin ang Sandali’, and this new single is my collaborative effort with seasoned songwriters Brian Lotho and Rangel Fernandez.”

She added, “Oh di ba? The expecting mom coming out with a dance track! Seriously, this song is a labor of love, and my team pushed me to explore new sounds which challenged me not only vocally, but we also had to shoot the music video!” The “Sugal” dance will feature a pregnant performing Maja with her exquisite moves as she twirls alongside the popular dance group G-Force.

Indeed, everything is coming up roses for Maja Salvador before she takes on her most important role as mother in a few months. And with many more milestones awaiting her, we are sure that she will continue to bloom like never before. n

FROM left Bruce Roeland, Carla Abellana, Jennylyn Mercado and Mike Tan

‘Love. Die. Repeat.’, ‘Asawa ng Asawa Ko’ and ‘Stolen Life’ stars join Dinagyang Festival 2024 Festive January continues in the country’s City of Love as GMA Regional TV brought the stars of the hit series Love. Die. Repeat., Asawa ng Asawa Ko and Stolen Life to Iloilo City on Saturday to join the colorful celebration of the Dinagyang Festival 2024.

A fun-filled weekend unfolded as Jennylyn Mercado and Mike Tan from GMA’s Love. Die. Repeat., together with Carla Abellana from the network’s Stolen Life and Bruce Roeland from Asawa ng Asawa Ko brought unparalleled entertainment that made for unforgettable celebration for all Ilonggos. Audiences delighted with their exciting performances and other surprises in the Kapuso Fiesta at Robinsons Iloilo on Saturday afternoon.

“The month of January is definitely jam-packed for GMA Regional TV as we participate in the country’s biggest festivals, including Iloilo City’s Dinagyang

Festival. All the preparations we’ve been doing for these festivities are indeed very fulfilling as nothing beats the beautiful smiles we see from Kapuso fans whenever their favorite GMA artists are brought closer to their homes. To all Kapusong Ilonggos, may you enjoy our special treat for you this Dinagyang Festival,” says senior vice president and head of GMA Integrated News, Regional TV, and Synergy Oliver Victor B. Amoroso.

GMA Regional TV made the much-anticipated Dinagyang Festival extra special on January 28 with Hala Bira! The GMA Regional TV Dinagyang Festival 2024 Special Coverage via www.gmaregionaltv.com, GMA Regional TV’s YouTube and Facebook accounts, and GMA Regional TV News’ Twitter/X account beginning at 7:30 am.

More information about GMA Regional TV are available on www.gmaregionaltv.com.

Telavi’s visionary president and CEO Erwin Co

Telavi: Redefining Connections and Technology

Communication with different stakeholders in the new digital landscape can be challenging. GLC, a leader in business communication solutions, has stepped up to this challenge, developing innovative solutions over the past decade. Their latest flagship brand, Telavi, is revolutionizing communication for organizations, empowering seamless connections, and transforming communication paradigms.

Through the evolution of digital transformation, Telavi has been partnering with different enablers such as PLDT. Both companies have been on a mission to redefine communications in the country. During last year’s Digital Convention, Telavi CEO Erwin Co shared his thoughts on the brand’s transformative journey, as he also highlighted Telavi’s significant strides to strengthen connections with forwardthinking businesses that are eager to embrace digitization.

“We are here to share our solutions that meet their needs and drive innovation and growth to the country’s digital landscape,” he said.

Telavi offers a range of digital communication solutions that let you communicate with anyone you need to, using different ways and devices—in other words, making it a reliable partner for your communication needs. Its primary goal is to help clients adjust to fast-evolving digital communication needs and provide organizations with seamless, flexible and cost-effective solutions that address their ever-changing needs and challenges.

“We work hard to tailor our solutions to meet our clients’ needs and budgets. For example, we have Telavi Cloud, a solution that lets you connect from anywhere at any time,” said Co. One of its newest solutions that enhances consumer experience is the Telavi Click-to-Call. No need to manually dial a number but instead, with just one click on the company’s website or social media, the consumer can talk to the customer agent. It has improved customer satisfaction of companies that implemented this hassle-free execution. This innovative solution has already proven its worth in real-life situations, particularly in Telavi’s collaborations with various local governments.

Telavi is making life easier for Filipinos through simple, fast, and direct communication. With a proven track record and well-known clients, including local government units, the company has played a crucial role in bringing people closer to the government.

But Telavi’s story does not end here. With its recent rebranding, Telavi is also committed to empowering organizations to thrive in the changing digital landscape.

Actively expanding its reach and forging partnerships across industries and sectors, Telavi (www.telavi.com.ph) is on a mission to provide trustworthy, cutting-edge digital communication solutions.

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Tuesday, January 30, 2024

www.businessmirror.com.ph

MERALCO’S COMMUNICATION EXCELLENCE SHINES AT 10TH PHILIPPINE QUILL AWARDS

RECEIVING the award for NutriAsia at the Asia Pacific Procurement Awards 2023 are Gerald Barrion, Procurement Manager, and Genevieve Santiago, Group Head of NutriAsia Corporate Procurement Group. PROCUREMENT LEADERS

NutriAsia earns international recognition for sustainable innovations, procurement initiatives

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A N I L A E le c t r ic Compa ny (Meralco) Vice President and Head of Corporate Communications Joe R. Zaldarriaga and One Meralco Foundation (OMF) President Jeffrey O. Tarayao led the Meralco contingent that emerged as one of the top winners at the 20th Philippine Quill Awards, bagging a total of 28 Excellence and Merit trophies— the most number of awards among entrant companies. The power distributor was recognized for its exemplary communications

programs centered on sustainability, corporate social responsibility, innovation, and public service.

“Being ack nowledged for these achievements is truly a great honor, motivating us to forge ahead with programs and initiatives that profoundly impact our customers’ lives and contribute significantly to the public good,” said Zaldarriaga.

Meralco made Philippine Quill history when it won the “Company of the

BB.Q Chicken Unveils Culinary Extravaganza with Opening of Its 6th Store in Sta Rosa

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B.Q Chicken opened on January 26, 2024, Friday its 6th establishment at Vista Mall Sta Rosa.

Nestled in the vibrant city of Sta Rosa, this marks the company’s debut in Laguna and a significant milestone in its expanding chain.

The grand opening festivities saw guests being invited to embark on a culinary adventure showcasing BB.Q Chicken’s dedication to excellence in flavor and innovation. The event featured exciting menu additions, promising to captivate the taste buds of Filipino food enthusiasts.

Among the new additions, the Cheesling Chicken took center stage, offering a

unique and savory experience. The culinary extravaganza also included the flavorful Caesar Salad, a refreshing complement to the bold and savory flavors that define BB.Q Chicken’s offerings.

No BB.Q Chicken experience is complete without savoring the legendary Golden Fried Chicken, a crispy and succulent masterpiece. The Secret Chicken, a sweet and savory Korean-flavored dish, also graced the event, continuing to win the hearts of food enthusiasts far and wide.

To complement the culinary delights, BB.Q Chicken presented signature cocktails, offering a tantalizing mix of flavors, and the refreshing Ice Cream Float with

US based MOREDII signs partnership with PCLLA

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OREDII, a filmmaking and marketing outfit company based in California, USA, recently today the fruition of the meeting with PCL Academy and the forthcoming partnership with Philippine Councilors League Legislative Academy.

T h is impend i ng pa r t nersh ip w i l l focus on the innovative approach to film making education and specialized learning. An internship program with local and foreign schools are envisioned for a real-world experience for the film making enthusiasts.

The impending collaboration will begin with the implementation of an internship program for local students as part of the school’s inter-learning pathway. The opportunity to gain international real experience in film making will be combined with rigorous academic activities to help prepare them to succeed in this career.

The preliminary plans include a series of public programs and development of a portfolio of information resources and educational materials.

Una Wang, the CEO of the California based MoRedii is enlivened by the idea

Year” award for three years in a row and is the only one to win the coveted award four times. At the recently held awarding ceremony, Meralco was honored as the “Company of the Year” 1st runner up.

Organized by IABC Philippines, the Philippine Quill Awards is considered the country’s most prestigious awards program in the field of business communication—emphasizing the excellent use of communication in achieving goals and in making a difference in society.

Yakult, providing the perfect balance of sweet and tangy notes to accompany the feast.

The grand opening was a celebration of culinary innovation and a testament to BB.Q Chicken’s commitment to delivering exceptional dining experiences to its loyal patrons. The brand extends its heartfelt gratitude to all those who graced the event, emphasizing the unwavering support received from the Filipino community.

Special guests added a touch of glamour to the occasion, and BB.Q Chicken was honored to host former Governor Chavit Singson, Sta. Rosa Mayor Arlene Arcillas, Maui Taylor, San Fernando, Pampanga Mayor Vilma Caluag, and Tanya Llana, vice president of BB.Q. Their attendance added to the festive atmosphere, making the event even more memorable.

For the latest updates, mouthwatering visuals, and exclusive promotions, follow BB.Q Chicken on Instagram and Facebook: @bbqchicken.ph BB.Q outlets can be found at: Vista Mall Sta Rosa, Laguna: 63V5+967, Santa Rosa-Tagaytay Rd, Don Jose, Santa Rosa, Laguna; BGC: UG, BGC Central C3, 7th Ave, Taguig, Metro Manila BGC: 7th Avenue corner 36th, 38th St, North Bonifacio District, Taguig, 1637 Metro Manila; Quezon City: Third Floor, Robinsons Magnolia, corner Doña Hemady St, Quezon City Pasay City: 4th Level, Newport Mall, Newport Blvd, Newport City, Pasay, 1309 Metro Manila Las Pinas: 2nd Level, Brgy, Evia LifeStyle Mall, Bldg. B Daang Hari Road, Almanza Dos, Las Piñas, 1750 Metro Manila.

of partnering with PCL Academy since this will give MoRedii and PCL Academy a unique opportunity to make sure that the academic skills they are imparting in school are the actual real-world situations and show the students how their education directly relates to their career interests and aspirations.

Wang said, “This event serves to introduce MoRedii in the Philippines and to formally request the partnership with PCL Academy in the fulfillment of our vision and mission. Thank you for your consideration. Together we can nurture a culture of active civic engagement to strengthen our city and sustain our communities.”

UTRIASIA, Inc., one of the leading manufacturers of food products found in every Filipino household, recently won the Asia Pacific Environmental & Social Impact Award at the Asia Pacific Procurement Awards 2023 held in Singapore. This award, presented by Procurement Leaders, the world’s largest and most valued procurement network, underscores the company’s dedication to challenging industry norms and enhancing sustainable value within their organization.

The procurement initiatives executed by NutriAsia stood out as one of the most exceptional and groundbreaking in the region. Under the leadership and direction of Procurement Group Head Genevieve Santiago, the NutriAsia Corporate Procurement Group was cited for the range of innovative solutions and winning programs that address challenges in the Philippines, recognizing the company’s commitment to doing good business.

One example of NutriAsia’s sustainable procurement practices is its direct-to-farmer sourcing program. While the company still uses traders, NutriAsia has amplified efforts to reach new sources by working directly with farm communities across the country, even as far as Davao del Sur, which has become a key supplier for their cavendish bananas—a crucial ingredient to create its world-renowned banana catsup.

By establishing partnerships with local farming communities, the company is able to support sustainable agriculture practices while ensuring the quality and freshness of their ingredients. Working with farmers has also created new job opportunities for hundreds of families in the region, providing some relief to their recent hardships.

Strategic partnerships with small and medium enterprises, as well as national government agencies, have also allowed NutriAsia to help balance the supply and demand of the market. Since 2021, the company has worked with V&C Agrifarms, a food processor based in Bukidnon, to harness greenhouse technology for their bell pepper production.

NutriAsia’s commitment to supporting local farmers extends beyond direct-to-farmer sourcing. The company also has an active partnership with the Department of Science & Technology (DOST) to support local farm-

ers in improving their farming techniques. In one instance, DOST aid was directed to V&C Agrifarms to help them adopt more sustainable and efficient practices. Moreover, NutriAsia and DOST collaborate on discovering new ways to extend the shelf life of fresh ingredients through pickled mixes that minimize waste and avoid losses for the local farmers creating them.

In addition to their sustainable procurement practices, NutriAsia is committed to reducing its carbon footprint by fostering a circular economy. The company recognizes the negative impact of tingi culture on packaging waste and has taken steps to address it.

It practices meticulous bottle recycling efforts that include thorough cleaning carried out by community washers. This has effectively breathed new life into used catsup and condiment bottles, reducing resource consumption equivalent to 5,500 metric tons of glass.

NutriAsia has also reduced its dependency on cartons by adopting crates for packaging stand-up pouches and reprocessed food cartons for bottle shipments. These efforts have helped save over 1,100 metric tons of paper and a reduction of 40,000-plus cartons and polybags. By implementing these initiatives, the company demonstrates its dedication to sustainability and doing good business.

“As a company that plays a vital role in enhancing the lives of Filipinos, NutriAsia’s commitment to Environmental, Social, and Governance is of utmost importance. Our initiatives on supplier diversity, greenhouse technology, pickled innovation, bottle recycling, repurposing corrugated waste, and adopting returnable crates exemplify our unwavering commitment to sustainability and responsible business practices,” said Genevieve Santiago, Corporate Procurement Group Head.

By forging partnerships with local farmers and adopting sustainable procurement practices, NutriAsia has set a commendable example for other businesses to follow. The company’s efforts towards sustainability, responsible business, and community empowerment demonstrate their dedication to providing the best for Filipino households, ultimately creating better and more sustainable futures.

Learn more about NutriAsia by visiting nutriasia.com.

ILS EXECUTIVE DIRECTOR TAKES OATH Department of Labor and Employment (DOLE) Secretary Bienvenido E. Laguesma (top left) administers the oath of office of Executive Director III Jeanette T. Damo (top right) of the Institute for Labor Studies (ILS) at the DOLE Central Office in Intramuros, Manila, last January 23, 2024.

Witnessing the oath-taking ceremony from left to right are Assistant Secretary Lennard Constantine C. Serrano, Assistant Secretary Paul Vincent W. Añover, Undersecretary Carmela I. Torres, Undersecretary Benedicto Ernesto R. Bitonio Jr., Undersecretary Felipe N. Egargo Jr., and Assistant Secretary Warren M. Miclat. The ILS, headed by Damo, is the policy research arm of the DOLE tasked to conduct labor and employment-related research projects and technical support. PHOTO BY REGIE D. MASON, DOLE-IPS

World Features

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

BusinessMirror

Tuesday, January 30, 2024

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Taking away Donald Trump’s business empire would stand alone under New York fraud law

By Bernard Condon The Associated Press

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EW YOR K—Within days, Donald Trump could potentially have his sprawling real estate business empire ordered “dissolved” for repeated misrepresentations on financial statements to lenders, adding him to a short list of scam marketers, con artists and others who have been hit with the ultimate punishment for violating New York’s powerful anti-fraud law.

An Associated Press analysis of nearly 70 years of civil cases under the law showed that such a penalty has only been imposed a dozen previous times, and Trump’s case stands apart in a significant way: It’s the only big business found that was threatened with a shutdown without a showing of obvious victims and major losses.

Lawyers for the state in Trump’s monthslong civil trial have argued that the principles of fair play in business alone are enough to justify a harsh penalty, but even they aren’t calling for the prospect of liquidation of his businesses and properties raised by a judge. And some legal experts worry that if the judge goes out of his way to punish the former president with that worst-case scenario, it could make it easier for courts to wipe out companies in the future.

“This is a basically a death penalty for a business,” said Columbia University law professor Eric Talley. “Is he getting his just desserts because of the fraud, or because people don’t like him?”

AP’s review of nearly 150 reported cases since New York ’s “repeated fraud ” statute was passed in 1956 showed that nearly every previous time a company was taken away, victims and losses were key factors. Customers had lost money or bought defective products or never received services ordered, leaving them cheated and angry.

What’s more, businesses were taken over almost always as a last resort to stop a fraud in progress and protect potential victims. They included a phony psychologist who sold dubious treatments, a fake lawyer who sold false claims he could get students into law school, and businessmen who marketed financial advice but instead swindled people out of their home deeds.

In Trump’s case, his company stopped sending exaggerated financial figures about his net worth to Deutsche Bank and others at least

two years ago, but a court-appointed monitor noted that was only after he was sued and that other financial documents continued to contain errors and misrepresentations.

A nd though the bank offered Trump lower interest rates because he had agreed to personally guarantee the loans with his own money, it’s not clear how much better the rates were because of the inflated figures.

The bank never complained, and it’s unclear how much it lost, if anything.

Bank officials called to testify couldn’t say for sure if Trump’s personal statement of worth had any impact on the rates.

“This sets a horrible precedent,” said Adam Leitman Bailey, a New York real estate lawyer who once successfully sued a Trump condo building for misrepresenting sales to lure buyers.

Added University of Michigan law professor William Thomas, “Who suffered here? We haven’t seen a long list of victims.”

‘Dissolution of an empire?’

TRUMP, the Republican presidential frontrunner, has focused his ire at potentially losing his business at both the Democratic New York attorney general who brought the case and the judge presiding over it.

In an order last September that’s currently under appeal, State Supreme Court Judge Arthur Engoron said Trump had indeed committed fraud and should have the state certificates needed to run many of his New York companies revoked. He said Trump should then be stripped of control over those companies, which are the official owners of his Fifth Avenue headquarters and other marquee properties, and have them turned over to a receiver who will manage the “dissolution” of them.

What the judge left unclear is what he meant by “dissolution,” whether that referred to the liquidation of entities that control properties or the properties themselves. Asked specifically in court whether Trump’s buildings would be literally sold off as in a bankruptcy, Engoron said he would clarify at a later date.

In a worst case, as interpreted by legal experts, Engoron could decide dissolution means stripping the real estate mogul of not only of his New York holdings such as Trump Tower and his 40 Wall Street skyscraper, but his Mar-a-Lago club in Florida, a Chicago hotel and condo building, and several golf clubs, including ones in Miami, Los Angeles and Scotland.

FORMER US President Donald Trump, with lawyers Christopher Kise and Alina Habba, attends the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court in the Manhattan borough of New York on Thursday, January 11, 2024. Within days, Trump could potentially have his sprawling real estate business empire ordered “dissolved” for repeated misrepresentations on financial statements to lenders, adding him to a short list of scam marketers, con artists and others who have been hit with the ultimate punishment for violating New York’s powerful anti-fraud law. SHANNON STAPLETON/POOL PHOTO VIA AP For her part, New York Attorney General Letitia James has asked that Trump be banned from doing business in New York and pay $370 million, what she estimates is saved interest and other “ill-gotten gains.” But she never asked for a property sale and may not even want one. Said one of her lawyers, Kevin Wallace, in his closing argument, “I don’t think we are looking for anything that would cause the liquidation of business.”

Engoron said that by January 31 he will issue a ruling that is expected to decide on the cash penalty and business ban and clarify his “dissolution” order.

A history of punishments NOTABLY, New York’s anti-fraud statute, known as Executive Law 63(12), is clear that a finding of fraud does not require intent to deceive or that anyone actually gets duped or loses money. The attorney general must only show “repeated fraudulent or illegal acts.”

But the AP analysis, based on a search of reported 63(12) cases in legal databases LexisNexis and Westlaw, found that victims and losses were factors when it came to deciding whether to take over a business.

A breast cancer nonprofit was shut down a dozen years ago, for instance, for using nearly all its $9 million in donations to pay for director salaries, perks and other expenses, instead of funding free mammograms, research and help for survivors.

A private equity firm faking big investment success was closed down after stealing millions of dollars from

thousands of investors.

A mental health facility was shuttered for looting $4 million from public funds while neglecting patients.

There may be more dissolved companies than AP found. Legal experts caution that some 63(12) cases never show up in legal databases because they were settled, dropped or otherwise not reported.

Still, the only case the AP found of a business dissolved under the antifraud law without citing actual victims or losses was a relatively small company closed in 1972 for writing term papers for college students. In that case, the attorney general said the victim was “the integrity of the educational process.”

This is not Trump’s first run-in with New York’s anti-fraud law. His nonprofit Trump Foundation agreed to shut down in 2018 over allegations he misused funds for political and business interests. And his Trump University was sued under the law in 2013 for allegedly misleading thousands of students with false promises of success but it had closed before it could be shuttered by the courts.

Trump eventually settled this and related cases for $25 million.

Decades of 63(12) legal history also showed many cases where defendants socked customers with big losses and still got to keep running their businesses.

A judge in 2001 declined to appoint a receiver to take over a porn site despite millions of dollars of illegal credit card charges to hundreds of customers who thought they were getting “free tours.”

In fact, the owners tried to cover up their

Financier entrusted with Middle East billions attempts comeback

By Anto Antony, Dinesh Nair & Adveith Nair

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HE Indian-born financier who helped open the floodgates to Middle Eastern wealth for Masayoshi Son’s $100 billion Vision Fund is attempting his second act. This time, he’s going solo.

At SoftBank Group Corp.’s splashy tech vehicle, Rajeev Misra helped secure commitments worth $45 billion from Saudi Arabia’s Public Investment Fund and $15 billion from Abu Dhabi’s Mubadala Investment Co. Investments in high-flying star tups ensued—Uber Technologies Inc. and WeWork Inc. among them—but many bets blew up as markets turned. Misra largely stepped back from that venture in 2022 after a tenure marred by internal clashes and investment writedowns.

Undeterred by those losses, Misra is now attempting a comeback—this time in credit.

He’s even leaning on the same Middle Eastern network to raise money. It’s a gamble that has shades of the kind of chutzpah he and Son displayed last time round, though Misra now says he’s determined to do better after watching the investment mistakes made

in the aftermath of SoftBank’s scramble to hire people.

“I have learned my lessons,” Misra, 62, said in an interview with Bloomberg News.

He’s already raised $6.8 billion for his One Investment Management from backers including Mubadala and Sheikh Tahnoon bin Zayed Al Nahyan’s Royal Group. Misra is seeking to boost the size of the fund to more than $10 billion, and hopes to get Saudi Arabia to invest as well.

While he’s vowing to deploy clients’ cash with a dose of caution, it’s an endeavor that will come with its own set of risks, particularly given his past history with Middle Eastern money. A global economy slammed by two wars and other geopolitical upheaval could once again bring market turbulence. And even Misra acknowledges there are limits to the region’s largess. “Endless well, bottomless pit? There is no such thing,” he said. “If you lose money, that pit is closed.”

UAE passport

REGARDLESS of whether Misra succeeds or fails, it’s undeniable that he’s a rare outsider to be entrusted with the Middle East’s billions, reflecting astute maneuvering and an ability to maintain key relationships despite the

blow-ups at the Vision Fund. He also stands out as one of few investors who’ve deftly sidestepped the economic rivalry between the United Arab Emirates and Saudi Arabia, drawing money from both sides.

The clearest sign of his relationship with Abu Dhabi’s ruling family is his UAE passport—one of the world’s most powerful travel documents and handed out to a very select group of foreigners. Misra travels to the region at least six times a year, staying at the swanky Four Seasons Hotel in Abu Dhabi and, in Riyadh, at the Ritz-Carlton—the site of Crown Prince Mohammed bin Salman’s 2017 crackdown.

Home to sovereign wealth funds that control over $4 trillion in assets, the Middle East is central to Misra’s plans. Five of the ten most active state-backed entities in 2023 were from the Gulf, even as global peers pulled back—the PIF alone spent $31.6 billion.

During the down years of Vision Fund, Misra kept in touch with its Middle Eastern backers and, over in-person meetings, appraised them about the status of investments. This, along with efforts to maximize their returns, helped him to retain their trust even when many bets

by Vision Fund soured.

Vision Fund

THE Vision Fund was unveiled shortly after SoftBank’s Son had pulled off what was until then his biggest bet—the $32 billion acquisition of chipmaker ARM Holdings Plc. “Masayoshi Son told me, ‘Rajeev, the next revolution is coming, AI. I need to invest, and we need to raise money,’” Misra said. That conversation, in mid-2016, was mere months before the Vision Fund launched.

The financier’s relationship with the Japanese executive dates back to the early 2000s. At Deutsche Bank AG, he helped Son finance the largest leveraged buyout in Asia at the time—the 2006 purchase of Vodafone Group Plc’s Japanese wireless business. At SoftBank, Misra was the architect of a loan package that helped Sprint Corp.—the US carrier Son acquired in 2012—stave off bankruptcy.

Those deals earned Son’s trust, propelling Misra to the top echelons of SoftBank and placing him at the heart of Vision Fund’s origin story. “We put together a small presentation, and went to Qatar, Abu Dhabi and Saudi Arabia,” he recounts.

“We’ve never managed any money, we don’t have any people and he wanted to raise

tricks and shifted money overseas. Still, the judge said appointing a receiver was an “extraordinary remedy” that should be used sparingly and that a preliminary injunction was good enough. Years later, prosecutors in a separate criminal case said the Gambino mob family was running the business and put several operators in prison.

A n auto lender that allegedly charged hidden, usurious interest rates got to stay in business last year if it paid a fine and didn’t commit fraud in the future.

And a judge refused a request to shut down a river rafting company in 2011 after a customer drowned and the attorney general showed it was repeatedly using unlicensed guides or none at all. Instead, he ordered only that the owner post a $50,000 bond and clean up his act. The company is still being run, under a different name, by the same family today.

Trump’s case TRUMP ’S case involved 11 years of financial statements with values based on disputed and sometimes outright false descriptions of properties used as collateral should his loans go bust.

Among them: Trump exaggerated the size of his Manhattan penthouse apartment by three times. He listed unfinished buildings as if they were complete, and apartments under rentcontrol as if they were free of such rules. He showed restricted funds as if they were liquid cash. And he portrayed Mar-a-Lago as if it could be converted to a residence even though that is prohibited in its deed.

In making her case against Trump, Letitia James called to the stand a lending expert who estimated that Deutsche Bank gave up $168 million in extra interest on its Trump loans, basing his calculations as if Trump never offered a personal guarantee.

But Trump did offer a guarantee, even if his estimate of his personal wealth was exaggerated. In fact, the bank made its own estimates of Trump’s personal wealth, at times lopping billions from Trump’s figures, and still decided to lend to him.

And testimony from Deutsche officials responsible for the loans suggested that deciding the right rate at which to lend, even absent Trump’s personal guarantee, isn’t so simple.

The Deutsche unit making the Trump business loans wasn’t the typical lending unit, but its private wealth division. That group often lends to rich clients not only to earn interest

$100 billion,” Misra said.

The PIF committed $45 billion over the course of a 45-minute meeting—attended by the crown prince and set up by the fund’s Governor Yasir Al Rumayyan. Abu Dhabi came in with a $15 billion pledge of its own.

“Then we scrambled to hire people,” Misra said. The investment decisions that followed culminated in a markdown of more than $16 billion for the first Vision Fund in the year to March 2023.

The fund has now returned almost 70 percentof the money raised to investors and even at a conservative valuation, is worth 1.2 times the capital raised, according to data provided by SoftBank. A similar investment in the S&P 500 Index would have doubled in value during the period.

Misra says he no longer has an active role in the Vision Fund, though he’s still on the investment committee. He’s also involved in employee compensation and in ensuring maximum returns for the fund’s limited partners, the largest being PIF and Mubadala.

He considers his stint the best education he could have received in investing.

He says he’s still close with Son, but acknowledges they met just twice last year and mostly catch up on the phone.

OneIM

PART of the reason for his decision to step

but to help its chances of winning the lucrative business of managing their vast personal investments and getting them to buy other bank services—something that testimony showed Deutsche was clearly hoping to do with the ex-president.

Trump has repeatedly said in impromptu rants at his trial that the case is a meritless, political “witch hunt” because he is richer than the statements sent to banks suggest, and lenders didn’t care about those figures anyway because they always did their own analysis, always got paid back in full and continued to lend to him.

“What’s happened here, sir, is a fraud on me. I am an innocent man,” Trump said in a six-minute statement in court earlier this month before the judge cut him off.

A potential compromise TO be sure, the attorney general’s office has argued that there are larger issues than victim losses at play in Trump’s case.

When big loans are issued with an inaccurate picture of risk, said state lawyer Kevin Wallace, it damages the public and business community, “distorts the market” and “prices out honest borrowers.”

Plus, Wallace suggested, letting such lies to banks slide if those banks don’t take legal action on their own would amount to saying, “if you are rich enough, you are going to be allowed to do it.”

Or as New York lawyer and Fordham University adjunct professor Jerry H. Goldfeder put it, “Just because no one is complaining doesn’t mean there hasn’t been a fraud.”

In a footnote in a 94-page summary document filed earlier this month, Letitia James suggested a compromise decision for Engoron: Appoint an independent monitor to oversee Trump’s operations for five years, after which the court could decide whether to revoke his business certificates and possibly put him out of business.

University of Michigan’s Thomas says he thinks Engoron may pull back from his shutdown order, but he is still concerned.

“Those who want to see Donald Trump suffer by any means necessary,” he said, “risk ignoring the very commitment to a rule of law that they accuse him of flouting.”

Reporters Michael R. Sisak, Jennifer Peltz and David Caruso, and news researcher Rhonda Shafner contributed.

back from the Japanese vehicle, Misra says, was to avoid a conflict of interest as he started to chart out his next act. The new venture will deploy capital across asset classes amid turmoil in markets around the world, focusing on credit—an asset manager that goes beyond investing in the technology sector.

Misra was born in 1962 in the Indian city of Jamshedpur, named for the founder of Tata Group, where his father worked at the time.

He studied at the prestigious Indian Institute of Technology in Delhi before transferring to the University of Pennsylvania. From there, armed with an MBA from MIT’s Sloan School of Management, he embarked on a career that took him from Merrill Lynch and Deutsche Bank to UBS—and briefly Fortress Investment Group, which was acquired by SoftBank.

He still spends a few weeks every year in his sprawling villa on a four-acre plot close to the heart of New Delhi—a city where his family was once forced to rent a single room on a rooftop amid a cash crunch after his father unexpectedly died of a cardiac arrest.

Misra star ted to build his Middle Eastern connections in 2013, sensing an opportunity in a pocket of wealth that was a black box to many investors. Gulf statebacked funds didn’t have a major foreign presence at the time. With assistance from Ben Bartenstein/Bloomberg

Sinner rules Aussie Open: Generation shift is arriving M

ELBOURNE, Australia—Jannik Sinner lined up a forehand, drilled it down the line and dropped to the court on his back, giving himself some moments to process how he’d managed to come back from two sets down to win his first Grand Slam title.

The 22-year-old Sinner found a way to turn defense into attack in his first major final and take the Australian Open title from Daniil Medvedev, 3-6, 3-6, 6-4, 6-4, 6-3, on Sunday.

“I like to dance in the pressure storm,” he said of his seemingly serene approach to the most tense moments. “I like it, because that’s where most of the time I bring out my best tennis.”

It was his third straight win over a top five player after his quarterfinal victory over Andrey Rublev and his semifinal upset that ended No. 1-ranked Novak Djokovic’s long domination of the tournament.

Only Djokovic and Roger Federer have done that previously in a major played on hard courts so he’s in great company.

Sinner is the first Italian to win the Australian Open and the youngest winner in a men’s final here since Djokovic won his first Grand Slam title in 2008.

With Carlos Alcaraz winning Wimbledon last year and Sinner winning the season-opening major, a generation shift is arriving.

“I still have to process it, because... beating Novak in the semis and then

Sports BusinessMirror

today Daniil in the final, they are tough players to beat,” Sinner said.

“It’s a great moment for me and my team. But in the other way, we also know that we have to improve if we want to have another chance to hold a big trophy again.”

Sinner’s success has lit a tennis fuse in Italy, where his run to the Association of Tennis Professionals Finals championship match and leading role in the Davis Cup title win in November captured the country›s attention. The night time final in Australia made for pre-lunch viewing in Italy.

For 2021 USOpen champion Medvedev, the loss was his fifth in six major finals. The thirdseeded Medvedev set a record with his fourth five-set match of the tournament and time on court at a major in the Open era, his 24 hours and 17 minutes surpassing Carlos Alcaraz’s 23:40 at the 2022 US Open.

He’s also the first in the Open era to lose two Grand Slam finals in five sets after taking a 2-0 lead.

Medvedev lost back-to-back Australian Open finals—to Djokovic in

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uesday, January 30, 2024 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

2021 and to Rafael Nadal after holding a two-set lead the following year.

Sinner only dropped one set through six rounds—in a third-set tiebreaker against 10-time Australian Open champion Djokovic—until he lost two straight to Medvedev.

It wasn’t until a break in the sixth game of the fifth set that he really had a full grip on his first Grand Slam title.

In two of Medvedev’s five-set matches—a second-round win over Emil Ruusuvuori that finished at almost 4 in the morning, and a 4-hour, 18-minute semifinal win over No. 6 Alexander Zverev—he had to come back from two sets down.

Nobody had done that on the way to an Australian Open final since Pete Sampras in 1995.

Against Sinner, he started like man who wanted to win points quickly.

Standing closer to the baseline to receive serve and going to the net more regularly than usual, he broke in the third game and took the first set in 36 minutes.

Soccer-mad Italy now obsessed with Sinner

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ORTINA D’AMPEZZO, Italy— Soccer-mad Italy has a new obsession. Jannik Sinner’s performance on the tennis court has captured the country’s attention.

And not just for the way Sinner rallied from two sets down to beat Daniil Medvedev and win the Australian Open title on Sunday.

Ever since Sinner reached the Association of Tennis Professionals Finals championship match at home in Turin and then led Italy to the Davis Cup title on consecutive weeks in November, he’s been taking over the headlines from soccer.

“Jannik Sinner wrote a new page of history today that fills us with pride,” Italian Premier Giorgia Meloni wrote on Facebook. “It’s an achievement worthy of a real champion.”

The Turin final was the most watched tennis match of all time on Italian television, with 6.7 million viewers. It wouldn’t be surprising if Sunday’s match turns out to have an even bigger audience, even though it was shown only on Pay TV, starting at 9:30 a.m., in Sinner’s home country.

ITALIAN fans cheer for Jannik Sinner at Melbourne Park. AP It’s a testament to the 22-yearold Sinner’s clean-cut image, his ability to always say the right thing and act properly.

“I’ve never seen such a great yet simple champion,” Andrea Abodi, Italy’s Sports Minister, wrote on X, the social media platform previously

known as Twitter. “I’m happy and honored that he’s Italian.”

The attention is also due to the fact that no Italian man had won a Grand Slam singles title in nearly a halfcentury—since Adriano Panatta raised the French Open trophy in 1976.

“And trust me, this is just the

He had two more service breaks in the fourth and sixth games of the second set but was broken himself at 5-1 trying to serve it out. He was successful next try.

The third set went with serve until the 10th game, when Medvedev was a point from leveling at 5-5 until three forehand errors gave Sinner the set, and the momentum.

He won the fourth set, again with a service break in the 10th game, recovering immediately to win three points after mis-hitting a forehand so far out that it shocked the Rod Laver Arena crowd.

And so the tournament equaled a Grand Slam Open era record set at the 1983 US Open with a 35th match going to five sets. AP first of many Grand Slam finals,” said Flavia Pennetta, the last Italian woman to win a Grand Slam after beating compatriot Roberta Vinci in the 2015 US Open final.

Not since Valentino Rossi was dominating motorcycle racing, Marco Pantani was the world’s top cyclist or Alberto Tomba was winning Olympic skiing medals has a non-soccer athlete gained so much attention in Italy.

What’s different about Sinner from Rossi, Pantani and Tomba is that Sinner is from a Germanspeaking area of Italy. He left home for the Italian Riviera to train with Riccardo Piatti, now his former coach, at the age of 13.

When Sinner opted not to play Davis Cup for Italy in the September group phase—saying he hadn’t recovered in time from tournaments in North America, including the US Open—he was widely criticized with an underlying sentiment that he wasn’t fully Italian.

“Caso Nazionale” (National Issue), said the front-page of Sportweek, the Gazzetta dello Sport’s weekly magazine.

The criticism quickly died down when Sinner went on his late season tear and almost single-handedly

Maguilang sisters, Silva lead Letran to title sweep in NCAA

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ETRAN’S Gia Marcel and Jogi Maguilang and Lara Mae Silva beat San Beda University’s Angel Mae Habacon, Reyann Cañete and Katletya Jewel Molina, 21-16, 21-16, over the weekend to sweep the National Collegiate Athletic Association Season 99 women’s beach volleyball

tournament in Subic Bay. The Lady Knights were just a cut above the rest as they won all their 11 games, including nine in the elimination round, via straight sets in claiming their second consecutive title and third overall.

Letran coach Michael Inoferio credited the win to her charges’ focus

and determination.

“They were determined,” said Inoferio, adding that the rookie Maquilang sisters and Silva, a junior, will go after a “three-peat” next season.

Sharing the spotlight were University of Perpetual Help’s Louie Ramirez and Jefferson Marapoc, who downed Saint Marlowe Jamisola and Ar-Jay Ramos, 21-19, 21-13, to also complete bag back-to-back titles.

PNVF Champions League kicks off Sunday

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RO teams Cignal HD, Chery Tiggo and PetroGazz as well as Philippine Army head the women’s tournament cast of the Philippine National Volleyball Federation (PNVF) Champions League that serves out Sunday (February 4) at the Rizal Memorial Coliseum.

Also seeing action in the women’s

BELINDA STRONACH looks on before the start of the $ Pegasus World Cup Invitational at Gulfstream Park in Hallandale Beach, Florida. AP

JANNIK SINNER dances his way through the storm in Melbourne. AP

It was the Altas’ fourth crown pushed them closer to College of Saint Benilde’s league-best seven championships.

Emilio Aguinaldo College’s Alijhan Apdian and Dwayne Iverson Alin-Alin trounced Lyceum of the Philippines University’s Rodan Aguire and Ace Van Roboel Blaco, 21-17, 16-21, 15-10, to give the Pirates their fourth juniors crown.

“The PNVF is starting 2024 in earnest with the Champions League as we kick off another busy volleyball schedule,” said Suzara, adding the Philippines is again set to host the Volleyball Nations League in June and the Volleyball World Beach Pro Tour in December.

This is the third edition of the Champions League with Team Dasma Monarchs winning the first in 2021 and Cignal HD prevailing in 2022 in the men’s division and F2 Logistics and California Precision SportsAntipolo City dominating the first two women’s tournaments.

Balbanida yields to strong field

A

By Josef Ramos

VERY BALBANIDA avoided injury unlike her two other compatriots in the Fourth Winter Youth Olympics and finished 69th in a strong men’s sprint freestyle of cross-country skiing on Monday at the Alpensia Biathlon Centre in Gangwon, South Korea.

“It was more of international-level skiing against the greatest skiers my age so I think it was a pretty good performance,” Balbanida, 16, said. “I think I handled skiing very well so this will help me in my future competitions.”

Balbanida clocked three minutes and 44.34 seconds in his qualification stage 40.36 seconds behind top-notch Austrian Elias Eischer (3:03.98).

Italy’s Federico Pozzi won the gold medal in 3:16.27, followed by Germany’s Jakob Elias Moch (3:16.60) for and the US’s Tabor Greenberg (3:17.33).

Balbanida’s Canada-based Australian Canada Allison McAdler praised perseverance in the race that featured 40 meters of climbing.

“He a pretty good performance as he didn’t falter and kept his poise down the stretch,” McAdler said. “He gave

lost to a surprise-performing University of Santo Tomas in the Challenge Cup also last November.

Also in the men’s contest Pool A with Cignal HD are top men’s club squads PGJC Philippine Navy, Savouge Spin Doctors and College of Saint Benilde, while Pool B is made up of VNS Asereht Griffins, Iloilo D’Navigators, Philippine Air Force and Philippine Army.

H

Horse racing industry asked to do more for retired horses second three times, third once.

Career earnings: $28,510.

As tends to happen in racing, when an on-track career is done, the off-track career of breeding and being sold begins. My Elusive Dream was sold a couple of times,

delivered at least eight foals over the years and wound up destined for a South Korean slaughterhouse.

And that’s when her story made it to the desk of Belinda Stronach, the chairwoman and CEO of 1/ST Racing, which operates Gulfstream

I

N-FORM Kim Remolino and Raven Faith Alcoseba hope to ride the momentum of their victories in the National Age Group Triathlon (NAGT) as they gear up for another stab at triathlon glory in the Go for Gold Sunrise Sprint, a subcategory event of the 5150 Triathlon CamSur reeling off February 11 in Camarines Sur. Remolino pulled off a thrilling victory over fellow Cebuano Matthew Hermosa in Sunday’s NAGT in Subic, clocking 56 minutes and 56 seconds against Hermosa’s 56:57 in the men’s category of the 750-meter swim, 20-km bike ride and 5-km run race.

Alcoseba, on the other hand, clocked 1:03:55 to nail her third straight title, besting Erika Burgos and Kira Ellis, who clocked 1:05:39 and 1:06:16, respectively.

That makes the Go for Gold Cebu stalwarts, who also shared top honors in the short-distance triathlon series in Bohol in 2022, the marked triathletes in the upcoming Sunrise Sprint, determined to add more titles to their growing trophy collection.

But they will be up against strong contenders such as Renz Corbin, John Michael Lalimos, Victor Redillas, Marjon Balisoro, Carron Cañas, Jairo Almonte and Alan Diaz, all poised to challenge Remolino’s bid for another victory.

The Sunrise Sprint, designed to showcase participants’ skills and foster the joy of triathlon racing, attracts a mix of seasoned and beginner looking for new challenges.

Jeremy Go, vice president for marketing at Powerball Marketing and Logistics Corp., expressed his encouragement.

“The Sunrise Sprint is the perfect opportunity to test your limits, push yourself to new heights, and create lasting memories,” Go said.

Alcoseba, who also topped the Sunrise Sprint Dapitan last year, faces tough competition from arch rival Nicole del Rosario and the promising Lean Balmaceda with challengers Katrina Salazare. Liza Reyes, Jhoan Año and Georgina Bremridge aiming to make an impact in both the overall championship and their respective

RAVEN FAITH ALCOSEBA shifts her focus on Camarines Sur.

contest are the College of Saint Benilde Lady Blazers who will be defending the crown they won last November when the annual tournament was momentarily renamed Challenge Cup also the Rizal Memorial Coliseum.

PNVF president Ramon “Tats” Suzara said that the men’s tournament will immediately follow on February 11 in the same venue with the Cignal HD Spikers hoping to regain the crown they ALLANDALE BEACH, Florida—The last time a mare named My Elusive Dream raced was more than 13 years ago. She made 10 starts in her career and ran at some of the most historic tracks in the country, places like Saratoga and Belmont and Gulfstream.

She never won. She finished

Remolino, Alcoseba set sights on sprint crowns in CamSur

Park and other tracks.

Fast forward to the happy ending: My Elusive Dream was saved— plans were made to bring her to a Florida farm owned by the Stronach Group—and Stronach is calling on the racing world to further prioritize

it everything and didn’t falter, looked strong coming out from the start, and I’m proud of him.”

“He had still a good finish overall,” he added.

Balbanida competed with his parents, Voltaire and Rosalia, and Philippine Snow and Ski Sports Federation president Jezreel Apelar in attendance.

He will compete again on Tuesday in the 7.5-kilometers classic event.

“Tomorrow will be a bit challenge because it’s two laps, 7.5 kms, but it’s an individual start,” McAdler said. “So there are lots of opportunities for passing and lots of opportunities to see how the others are skiing. That will be an excellent experience for him.”

Balbanida vowed to do his best in his final event.

“I feel like it’s definitely easier here than the courses in Canada,” he said.

“So I’ll just do my best.”

The other Filipinos limped out of the games with Peter Groseclose sustaining a wound in his foot after finishing fifth overall in short track speed skating and Laetaz Amihan Rabe injuring her left knee during warmup in freestyle slopestyle event.

helping retired horses.

“The industry needs to step up and do more,” Stronach said in an interview with The Associated Press.

My Elusive Dream got a second chance through a combination of efforts from People for the Ethical Treatment of Animals, a group that has routinely criticized the racing industry, and Stronach’s group. AP