BusinessMirror July 01, 2021 by BusinessMirror

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

BusinessMirror A broader look at today’s business

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

BANK LENDING DECLINE FINALLY SLOWS IN MAY www.businessmirror.com.ph

■

Thursday, July 1, 2021 Vol. 16 No. 260

P.  |     | 7 DAYS A WEEK

SAN Juan City Mayor Francis M. Zamora witnessed the launch of Moderna vaccines in San Juan City’s vaccination program at the FilOil Flying V Centre, the city’s main vaccination site, on Wednesday, June 30, 2021. Moderna vaccines were delivered Tuesday night at the arena and were immediately used for inoculation on Wednesday morning for residents under the A1, A2, A3, A4 and A5 categories. San Juan City rented ultra low-temperature freezers, which are on standby at the arena, so the vaccines can be properly stored on-site at -25°C to -15°C temperature. NONOY LACZA

B B C

@BcuaresmaBM

HE free fall of bank lending finally slowed down in May this year, after 12 consecutive months of deterioration due to risk aversion brought about by the pandemic-related disruptions to the economy.

The Bangko Sentral ng Pilipinas (BSP) reported on Wednesday that bank lending continued to contract in May, albeit at a slower pace from the April contraction. In particular, bank lending declined by 4 percent in May. This is slower than the 5-percent contraction recorded in the previous month. Bank lending first collapsed into the contraction territory in December 2020 by 0.7 percent. May is the

sixth consecutive month of bank lending contraction despite the aggressive efforts of the BSP to lower interest rates and boost liquidity conditions. In comparison, the Philippines’s bank lending grew 13.6 percent before the onslaught of the global health crisis in March 2020. “Credit activity has remained C  A

Diokno sees inflation easing down in June

ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno believes inflation will start showing signs of slowing down in June this year as prices of key food items trended down during the month. In a message to reporters on Wednesday, the BSP chief said inflation likely hit 4.3 percent in June, with a projection band of 3.9 percent to 4.7 percent. Diokno’s projection for the month is a slight deceleration from the 4.5-percent inflation print in March, April and May for this year. It is still, however, above the ceiling of the annual government target range of 2 to 4 percent. According to the BSP governor, higher prices of domestic petroleum products, along with the upward S “D,” A

“THE BSP will continue to monitor emerging price developments to ensure that its primary mandate of price stability conducive to balanced and sustainable economic growth is achieved.”—BSP Governor Benjamin Diokno

PESO EXCHANGE RATES ■ US 48.5440

SCHOOLS IN RACE VS. TIME TO STOP BIR RULE ON HIGHER TAX RATE B B D. N @BNicolasBM

HE Department of Finance (DOF) backed the passage of the proposed Senate bill seeking to clarify the issue on the tax rate applied to private schools, but it has yet to give a firm response to appeals to suspend in the meantime the implementation of the tax regulation. Finance Assistant Secretary Dakila Elteen Napao expressed DOF’s support for the proposed Senate Bill 2272 during the Senate Ways and Means Committee hearing on Wednesday. “The DOF is not against the proposed measure, which aims to subject all proprietary educational institutions to the reduced preferential rate of 10 percent, which is now 1 percent until 2023,” Napao said. “By removing the qualifier, ‘nonprofit’ for proprietary educational institutions in Section 27 [B] of the Tax Code as amended, private non-stock, non-profit educational institutions falling under Section 27 [B] and private stock, for-profit educational institutions will now be both subject to the 10-percent preferential rate under Section 27 [B] of the Tax Code, provided that 50-percent threshold on gross income is satisfied and achieved.” Likewise, Bureau of Internal Revenue Assistant Commissioner Larry Barcelo added the bureau also posed no objection to the measure.

“The Commissioner already expressed support to this bill and we have our meeting with the Committee on Ways and Means at the lower house,” Barcelo said. After hearing DOF’s and BIR’s support for the measure, Senate Minority Leader Franklin Drilon asked the DOF why it does not simply recall and rescind Revenue Regulation (RR) 5-2021 to ease the anxiety of private schools. While they are supporting the measure, Napao explained, they believe it should be “prospectively applied.” Senator Drilon then assured the DOF that they will put a special provision explicitly noting the prospective application of the clarificatory bill, but added this would not still invalidate their appeal for the DOF to at least suspend the implementation of the tax regulation pending passage of the measure. Responding to Drilon, Napao vowed to relay this request to their principals and then inform the Senate regarding DOF’s position.

Extended amnesty on estate tax, vital to recovery, signed B J M N.  C @joveemarie

 S P. M @sam_medenilla

EOPLE with unpaid estate taxes now have until 2023 to settle their dues with the government. This after President Duterte signed on Wednesday Republic Act 11569, which extended the estate tax amnesty from June 15, 2021 to June 14, 2023. Under the law, an executor or administrator of an estate, as well as legal heirs, transferees or beneficiaries may be able to avail themselves of the said amnesty through the Revenue District Office of the Bureau of Internal Revenue (BIR). The availment of the Estate Tax Amnesty and the issuance of the corresponding Acceptance Payment Form do not imply any

admission of criminal, civil, or administrative liability on the part of the availing estate. The Department of Finance (DOF) will issue the necessary Implementing Rules and Regulations for RA 11569, 60 days after its effectivity. RA 11569, will take effect 15 days after is publication in the Official Gazette or in two newspapers of general circulation.

Critical component

HOUSE Ways and Means Chairman Joey Sarte Salceda (Albay, second district) thanked Duterte for signing the Estate Tax Amnesty Extension Act, or Republic Act 11569. The law extends the estate tax amnesty application period by two years from the original deadline of June 14. C  A

Schools press suspension

DURING the hearing presided by Senate Ways and Means committee chairman Pia Cayetano, the umbrella organizations of private schools also appealed to BIR to at least suspend RR 5-2021, adding that they have received reports that the bureau is already trying to C  A

■ JAPAN 0.4391 ■ UK 67.2092 ■ HK 6.2531 ■ CHINA 7.5099 ■ SINGAPORE 36.0922 ■ AUSTRALIA 36.4760 ■ EU 57.7674 ■ SAUDI ARABIA 12.9440

Source: BSP (June 30, 2021)

News BusinessMirror

Thursday, July 1, 2021

Diokno...

C  A

adjustment in Meralco electricity rates and a slightly weaker peso, continue to put upward pressures on the price basket during the month. However, these could be partially offset by the decline in prices of key food items such as rice, meat and fruits due to improved supply conditions. “Moving forward, the BSP will continue to monitor emerging price developments to ensure that its primary mandate of price stability conducive to balanced and sustainable economic growth is achieved,” Diokno said. In the latest monetary policy meeting, the BSP raised its average inflation forecast for the year. BSP Deputy Governor Francisco Dakila Jr. said inflation is now likely to average at 4 percent for this year, up from the 3.9-percent forecast in their previous meeting. For next year up until 2022, Dakila said inflation is expected to hit an annual average of 3 percent. The BSP said in their June 24 monetary policy meeting that the continued implementation of direct non-monetary measures will be “crucial” in mitigating further supply-side pressures on meat prices and inflation. “The risks to the inflation outlook remain broadly balanced around the baseline projection path. The uptick in international commodity prices amid supply-chain bottlenecks and the recovery in global demand could lend upside pressures on inflation,” Diokno earlier said. “However, downside risks to the inflation outlook continue to emanate from the emergence of new coronavirus variants, which could delay the easing of containment measures and temper prospects for domestic growth,” he added.

www.businessmirror.com.ph

Smartmatic wins P637-M deal to refurbish vote-counting units

B S P. M

@sam_medenilla

HE Commission on Elections has tapped Smartmatic Corp.-Total Information Management Corp. (Smartmatic-TIM) to refurbish the vote counting machines (VCM) it will use for the 2022 polls. The poll body awarded the service contract to Smartmatic after the multinational election technol-

ogy provider won the competitive bidding for it, tendering a bid of P637,443,308.45.

The contract has an approved budget of P660,741,660.47. In a notice, Comelec Chairman Sheriff Abas said Smartmatic could now execute the Contract Agreement CA21-05-019, entitled “Contract for the Procurement of Vote Counting Machines (VCMS) Refurbishment with Consumables.” Under the contract, Smartmatic will refurbish 97,145 units of VCMs. It will also have to supply 109,745 pieces of Secure Digital (SD) Cards (Main) and Worm SD Cards (Back-up) and 250,000 pieces of cleaning sheets.

Aside from the refurbishment contract, Smartmatic also won the over P400-million contract to provide for the automated election system (AES) software to be used in the 2022 elections. Smartmatic has been the official vote counting machine supplier of Comelec since the 2010 polls, the country’s first automated national elections. Poll watchdogs have been demanding that the fi rm be banned from participating in bidding for Comelec contracts due to its supposed lapses and its irregularities in the delivery of its services.

P6.5B remained unspent before Bayanihan 2 lapsed—DBM B B D. N @BNicolasBM

BOUT P6.5 billion in funds remained unspent a few days before the expiration of Bayanihan to Recover as One law or Bayanihan 2, the Department of Budget and Management (DBM) said. Latest data from the budget department showed there was still an unobligated amount of P6.487 billion out of the total P141.59 billion released allotment for special appropriations under Bayanihan 2 as of June 25. The figures stated in the Bayanihan 2 status utilization report were highly dependent on the submission of agencies.

BUDGET Assistant Secretary and spokesman Rolando Toledo

The last day of the validity of Bayanihan 2 was on Wednesday, June 30. Despite appeals from various groups, President Duterte did not call Congress to a special session to extend the validity of appropriations under Bayanihan 2. After the expiration of Bayanihan 2, unobligated funds shall be reverted to the Bureau of the Treasury. Budget Assistant Secretary and spokesman Rolando Toledo told the BM that the latest DBM report for Bayanihan 2 does not yet include the P9.02 billion they released to the Department of Health on June 25 to cover the Covid-19 Special Risk Allowance (SRA) for around 300,000 public and private health workers.

The budget for the Covid-19 SRA was sourced from Bayanihan 2 appropriations. The SRA is expected to be released to health workers on or before June 30. Including the P9.02 billion released for Covid-19 SRA, total released allotment for special appropriations under Bayanihan 2 could increase to about P150.6 billion. Bayanihan 2 was originally supposed to expire on December 19 last year but this was later extended until June 30 this year after lawmakers observed a slow disbursement of funds.

See related story on Bayanihan funds on A16, “Solons ask Executive for full accounting of Bayanihan 1, 2.”

BANK LENDING DECLINE FINALLY SLOWS IN MAY C  A

muted as the emergence of new coronavirus variants and the continued risk of infection dampen prospects for economic recovery,” the BSP said in a statement. Broken down, outstanding loans to major industries fell anew, particularly to manufacturing—which contracted by 7.9 percent, wholesale and retail trade and repair of motor vehicles and motorcycles with a 7.1-percent decline, and professional, scientific and technical activities which was down by 56.9 percent. The decrease in outstanding loans to these industries was partially offset by the increase in loans to real-estate activities which grew by 3.9 percent, information and communication which grew by 3.4 percent, human health and social work activities which was up 13.7 percent, and construction, at 2.8 percent higher. Consumer loans to residents,

meanwhile, fell by 9.2 percent in May following a 10.2-percent decrease in April as motor vehicle loans and salary-based consumption loans continued to decline.

Liquidity

CASH supply, meanwhile, continued to expand in May. The BSP said domestic liquidity, broadly measured as “M3,” expanded by 4.7 percent to about P14.3 trillion in May. At this juncture, the BSP reiterated its stance to keep the monetary policy settings accommodative to push economic activity and support the recovery in the country. “The BSP shall sustain monetary policy support in order for the economic recovery to gain more traction. In ensuring a favorable financing environment, the BSP will remain vigilant against emerging risks to inflation and economic growth, consistent with its price and financial stability mandates,” the BSP said.

REP. Joey Sarte Salceda

EXTENDED AMNESTY ON ESTATE TAX, VITAL TO RECOVERY, SIGNED C  A

“This will be a very crucial piece of our economic recovery puzzle. I thank President Duterte for his approval of this measure, which has been a priority for the House Committee on Ways and Means,” said Salceda, a principal sponsor of the House version of the proposal. On September 15, 2020, the chamber approved on third reading House Bill 7068, which also called for a two-year extension of Republic Act 11213, of the Estate Tax Amnesty Act. “The estate tax amnesty will be critical to economic recovery, as it would allow property owners with unsettled estates to access bank financing or to liquidate their property to finance other needs,” Salceda said. “Having estates settled will unlock the value of such properties and allow credit arising from them to be used to finance economic activities. Covid-19 quarantines also took away significant filing time from potential filers for estate taxes, such that availers did not have full opportunity to complete the estate tax amnesty process for the entire period allowed by the law,” the House tax chair added. The signed bill is the Senate version, which was a reworking of the House version, and which Salceda recommended to be adopted in order to expedite the process. The House version of the bill reinstated the provision that only one return may be filed for estates involving multiple generations of decedents, which had been vetoed by President Duterte when he signed RA 11213. The Senate version deleted the provision, but “the President is likely to veto the same provision again if it were kept,” Salceda added. The Senate also removed the requirement for heirs to submit “proof of settlement,” which Salceda said “is immaterial, as the Bureau of Internal Revenue can simply require such proof to be presented if so needed.”

SCHOOLS IN RACE VS. TIME TO STOP BIR RULE ON HIGHER TAX RATE C  A

impose the higher tax rate of 25 percent—a 150-percent increase over the 10-percent rate they used to pay. “We really would appreciate, however, if the DOF and BIR would suspend at the very least, the implementation of this Revenue Regulation 5-2021 because we have had reports that the BIR is also trying to impose 25-percent tax on some of our member schools,” said Philippine Association of Colleges and Universities Legal Counsel Atty. Anna Maria Abad. “So it really would be appreciated if the DOF and BIR would do so at the soonest possible time, especially that schools will be starting in a month.” Coordinating Council of Private Educational Associations (Cocopea) Managing Director Atty. Joseph Noel Estrada added that at least three schools from different

regions are being asked by BIR regional offices to explain their legal basis for paying the lower rate of 10 percent for the longest time. Estrada said they have been consistently subject to the preferential tax rate of 10 percent since 1968. “We strongly join the call, with all due respect to the committee, to suspend, especially because of the urgency. We are entering a very difficult period...the school opening will be by July or August, and the schools have not decided yet whether they can survive, whether they can sustain, and we are also concerned about parents, about students now asking us on what would be the decision on whether to continue in the ensuing semester and school year,” he said.

‘Nonprofit’

PRIVATE schools have also since protested BIR’s “unilateral insertion” in its RR 5-2021 of a condition that proprietary educational

institutions must be “nonprofit” to enjoy the reduced rate of 1 percent as a result of the passage of the recently-enacted Republic Act 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) law. Private schools earlier filed a petition before the Court of Tax Appeals in a bid to stop the implementation of BIR’s RR 5-2021, which they said, if implemented, will have “widespread consequences [on] stakeholders of the private education sector at a time when the private education sector is fighting for its survival amidst plunging enrollment caused by the pandemic.” This came after BIR rejected Cocopea’s letter-appeal to rectify the tax regulation, saying its policy is consistent with the Tax Code and that the tax rate reduction under the CREATE law applies only to proprietary nonprofit educational institutions and proprietary nonprofit hospitals.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Thursday, July 1, 2021

IPOPHL to NGAs and LGUs: Lay down policies against counterfeiting, piracy

By Tyrone Jasper C. Piad

@TyronePiad

HE Intellectual Property Office of the Philippines (IPOPHL) wants 50 national government agencies (NGA) and 18 local government units (LGUs) to institutionalize policies against counterfeiting and piracy by 2025.

In a news statement issued on Wednesday, the National Committee on Intellectual Property Rights (NCIPR) called on national agencies and LGUs to implement an Anti-Counterfeit and Anti-Piracy Policy (ACAPP). “An ACAPP encourages all government workers to be aware of the harms of counterfeiting and piracy to busi-

ness, livelihoods and the economy so as to ensure that the policies and actions their offices issue are compliant with existing IP laws and regulations,” IPOPHL, which is part of the NCIPR, stated. Only four agencies, which are all members of the NCIPR, have implemented ACAPPs, IPOPHL noted. The

remaining nine members eye to enforce their policies this year. “As servants in government, we must be the role models in obeying the law. We must demonstrate this by being mindful of all laws, including the IP Code, when formulating policies or initiatives and by taking appropriate action against violators,” NCIPR Acting Chair and IPOPHL Director General Rowel S. Barba said. The target is in line with NCIPR’s 2021-2025 Goals, which highlights improvement on IP policy and legislation, awareness and enforcement. The interagency committee hopes to “radically” reduce counterfeit and pirated goods in the market by 2025. “By 2025, NCIPR will also shine as an internationally recognized interagency committee, spearheading the protection of IP and motivating coun-

tries to follow by its example,” IPOPHL Deputy Director General Teodoro C. Pascua added. Last month, IPOPHL entered a partnership with the International Trademark Association to improve the capacities and awareness regarding IP of the youth, businesses, online platforms and national authorities. The international IP group will provide capacity building initiatives for IPOPHL examiners in evaluating emerging products in designs; trademarks; certification marks; non-traditional marks; famous and well-known marks. Their memorandum of understanding work plan is in place until 2022. It will undergo evaluation thereafter to pinpoint areas that need further work and identify potentially new issues that need resolving.

DENR chief warns PHL critical watersheds Air Force recovers need immediate protection, rehabilitation bodies of crewmen By Jonathan L. Mayuga @jonlmayuga

ORE than 130 critical watersheds desperately need immediate protection and rehabilitation to minimize erosion and improve water yield that will ensure a sustainable supply of fresh water in the Philippines, Environment Secretary Roy A. Cimatu said on Wednesday. Speaking during the launch of the Save Our Watersheds Campaign, Cimatu said without watersheds, there will be no supply of fresh water that will sustain the various economic activities in the Philippines. It is in this premise, he said, that the Department of Environment and Natural Resources (DENR), through the Forest Management Bureau (FMB), is launching Save Our Watersheds Campaign together with the Japan International Cooperation Agency (Jica). Save Our Watersheds Campaign is being implemented under the Forestland Management Program (FMP), a foreign assisted project under the DENR’s Foreign Assisted and Special Projects Service (FASPS) and funded by the Government of Japan through Official Development Assistance (ODA). According to the DENR chief, protecting and rehabilitating the country’s watersheds will ensure that the country’s primary sources of freshwater will continue to provide the benefits that will support the economic and political well-being of the people as a nation. “Let us be constantly reminded that appropriate stewardship is needed for our watersheds for us to mitigate the impact of climate change,” he said.

The Philippines is blessed with fresh water sources but the country’s fresh water supply is threatened. The Philippines has 412 principal river basins in 119 proclaimed watersheds. Of these, 19 are considered major river basins. The longest river is Cagayan River, which is currently the subject of massive rehabilitation by the Task Force Build Back Better. There are also over 100 lakes in the Philippines. Of the more than 142 critical watersheds, Cimatu said more than 130 desperately need protection and rehabilitation. In 2019, the DENR chief has ordered the FMB to focus reforestation activities under the National Greening Program (NGP) to improve the condition of the country’s critical watersheds. According to Cimatu, saving watersheds will require protection, which means implementing a policy totally banning all logging activities or tree-cutting of trees in watersheds. “How will save our watersheds? We have to protect it. We should not cut any trees in the watershed,” he said. According to Cimatu, a protected area that overlaps with watersheds should not be abused. “Meaning, there should be no cutting [of trees]. If we have to add additional trees, we should plant [them]. And the trees that we plant should not be cut [down] forever,” he stressed. According to Cimatu, for him, importing wood is better than cutting down treess. “I’d rather buy lumber from outside than cut our own trees, because to me, [our trees are] more important,” he said. He said to sustain the program to be spearheaded by the Forest Management Bureau, the DENR will

endeavor to put in place a national directive in the form of an executive order that the DENR will endorse to Malacañang for the President’s approval, putting in place institutional mechanism for “a whole-of-society and a collaborative effort in preserving the country’s watersheds.”

‘Plant for Life’

MAYNILAD Water Services Inc., meanwhile, announced it is holding its “Plant for Life” program, the country’s annual tree-planting initiative to help rehabilitate watersheds, as part of the country’s annual Arbor Day Celebration. The private water concessionaire of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone is helping rehabilitate watersheds in Angat, Ipo, Umiray and La Mesa. “Some 15 million people in Metro Manila and nearby provinces rely on raw water sourced from dams that are replenished by watersheds. Given this dependence on the health of our watersheds—particularly those in Angat, Ipo, Umiray, and La Mesa—intensified preservation initiatives are being implemented in these areas to ensure sufficient supply and good quality of raw water,” Maynilad said in a news statement. In celebration of Philippine Arbor Day, Maynilad is again joining hands with various institutions to boost government effort in rehabilitating watersheds. “To date, we have already planted more than 600,000 trees over 800 hectares of the Ipo Watershed, but there is still so much more to do. Our community volunteers planted 200 palosapis and ipil trees at La Mesa Watershed last June 23, 2021,” Maynilad said.

Eleazar assures PNP cooperation in Sta. Cruz, Manila kidnap case

HE Philippine National Police (PNP) will cooperate in the ongoing investigation by the National Bureau of Investigation (NBI) of a reported kidnapping that was allegedly perpetrated by policemen in Manila. PNP Chief General Guillermo Eleazar said the police organization will work with the NBI in its probe into the kidnapping of three people by policemen in Sta. Cruz, Manila in April this year as claimed by two witnesses. The victims, Rexcell John Hipolito; 23, Ronald Jae Dizon, 21; and Ivan Serrano, 18, were snatched by police-

men, according to two witnesses who are now under the custody of the NBI. The NBI did not identify the policemen and even the witnesses. The two witnesses, who are brothers, were arrested by policemen during an anti-illegal drugs operation in Batangas on June 8. They claimed they were police assets. “These are serious allegations that need our focus. But at this point, let us allow the investigation of the NBI to take its course and we should not immediately judge our policemen,” Eleazar said. “I am giving assurance that once it

is proven that they really made a mistake, I will not let it pass,” he added. The suspects alleged that as police assets, they pinpointed drug offenders to the police and that they identified the three kidnap victims as marijuana peddlers. They claimed they were with the policemen when they took the three men from their neighborhood in Sta. Cruz, Manila. They also alleged that the three men are now dead. Eleazar said that like the families of kidnapping victims, he too wanted that justice be served in the case. Rene Acosta

killed in Tarlac helicopter crash By Rene Acosta

@reneacostaBM

HE militar y has already retrieved the bodies of its A ir Force six personnel from the S70i Black Hawk helicopter that crashed a week ago in Tarlac while on night proficiency training. “The Philippine Air Force has completed the retrieval operations for the aircrew of the S70i Blackhawk #100 on 27 June 2021,” said Air Force spokesman Lt. Col. Maynard Mariano. He said the recovery operation for the aircraft at the crash site was still ongoing as of Wednesday. In the meantime, the Air Force fleet of Black Hawks remained grounded. Mariano identified the fatalities of the chopper crash as Lt. Col. Rexzon Pasco, instructor pilot; Major Jayrold Constantino, student pilot; Major Erano Belen, student pilot; M/Sgt. Ronnie Reducto, instructor scanner; T/ Sgt. Maricar Laygo PAF, student scanner; and Sgt. Leonardo Tandingan, student scanner. The bodies of the six fatalities were recovered four days ago, according to Mariano. “The aircrew will be brought to their respective hometowns as requested by their families,” Mariano said. “The Philippine Air Force extends its deepest sympathy and sincerest condolences to the families, relatives and friends of the gallant air crew. The PAF shall extend all necessary assistance and support to the concerned families,” he added. The Air Force said it was still investigating the crash, which happened last week in the vicinity of Crow Valley target range in Tarlac. The ill-fated aircraft, attached to the 205th Helicopter Wing in Pampanga, was on a night-flying training when it ran into a mishap at past 8 p.m. The crashed Black Hawk was among the first batch of six Black Hawk utility helicopters that was delivered to the Air Force and procured from Poland. The second batch of delivery consisting of five similar helicopters arrived early last month. The Air Force has contracted to buy a total of 16 Black Hawk helicopters.

BusinessMirror

A4 Thursday, July 1, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

24 INCH GAUGE CONSTRUCTION INC. L4 Blk. 4 Near Kay Buboy Bridge San Dionisio Parañaque City Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive GUAN, XIANGYU environment; Project Coordinator Should have a bachelor’s degree in 1. Brief Job Description: journalism, marketing, Plan, Organize, and direct the activities of a communications or construction project, under the direction of a a related field; Good general manager communication and interpersonal skills

HAO, WEICHENG Project Coordinator 2.

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager.

KE, MEIHONG Project Coordinator 3.

Brief Job Description: Plan, Organize, and direct the activities of a construction project, under the direction of a general manager

LIU, AN Project Coordinator 4.

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive environment; Should have a bachelor’s degree in journalism, marketing, communications or a related field; Good communication and interpersonal skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills

No.

LOKE SIEW FEN Customer Service Representative Mandarin Speaking 8.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

SUN, GEJUAN Customer Service Representative Mandarin Speaking 9.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

TIAN, QI Customer Service Representative Mandarin Speaking 10.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

XU, CHUANGXING Customer Service Representative Mandarin Speaking 11.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

FAN, BINBIN Marketing Staff Mandarin Speaking 12.

Brief Job Description: Monitor , review and report on all marketing activity and result

HUANG, HAO Marketing Staff Mandarin Speaking 13.

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

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City Basic Qualification: Knows how to recommend potential DAO NGOC TUYET LAN products or services Customer Service Representative Mandarin to management by Speaking collecting customer 5. information and Brief Job Description: analyzing customer Build sustainable relationship of trust through needs. open and interactive communication in Mandarin Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential FANG, WEIJIE products or services Customer Service Representative Mandarin to management by Speaking collecting customer 6. information and Brief Job Description: analyzing customer Build sustainable relationship of trust through needs. open and interactive communication in Mandarin Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential HUANG, LEI products or services Customer Service Representative Mandarin to management by Speaking collecting customer 7. information and Brief Job Description: analyzing customer Build sustainable relationship of trust through needs. open and interactive communication in Mandarin Speaking Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Monitor , review and report on all marketing activity and result

LI, SHENGHU Marketing Staff Mandarin Speaking 14.

Brief Job Description: Monitor , review and report on all marketing activity and result

LI, JIANJI Marketing Staff Mandarin Speaking 15.

Brief Job Description: Monitor , review and report on all marketing activity and result

QU, YANZI Marketing Staff Mandarin Speaking 16.

Brief Job Description: Monitor, review and report on all Marketing activity and result

SONG, XIAOHAN Marketing Staff Mandarin Speaking 17.

Brief Job Description: Monitor , review and report on all marketing activity and result

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the marketing plans and projects , recommend to senior management Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the marketing plans and projects , recommend to senior management

No.

TONG, LIN Marketing Staff Mandarin Speaking 18.

Basic Qualification: Analyze the productivity of the marketing plans and projects , recommend to senior management

Brief Job Description: Monitor , review and report on all marketing activity and result

WANG, XINXIN Marketing Staff Mandarin Speaking 19.

Brief Job Description: Monitor, review and report on all Marketing activity and result

YE, WEI Marketing Staff Mandarin Speaking 20.

Brief Job Description: Monitor, review and report on all Marketing activity and result

ZHAO, LINGHUA Marketing Staff Mandarin Speaking 21.

Brief Job Description: Monitor , review and report on all marketing activity and result

MPAA, VERONIQUE KRYSTIE Bilingual Service Desk Analyst - French

22.

Brief Job Description: Position will require candidates to provide level 1 IT support in French and/or English language to customers globally. A French Bilingual L1 is primarily responsible for taking in phone/email/chat interactions in order to meet customer needs and expectations. He/ She is functionally and technically skilled in providing support in resolving customer’s issues

RYU, SANGIL Customer Service Analyst 23.

Brief Job Description: Respond and resolve customer service/tech support calls/emails and chat in a timely, efficient and knowledgeable manner.

MARCELINO ZAGHI, HECTOR Language Specialist – Portuguese 24.

Brief Job Description: Responsible in progressing and completing all requests and incidents in the country coverage within the agreed and defined process, timeline and quality level.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior management. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the marketing plans and projects , recommend to senior management Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

Basic Qualification: Analyze the productivity of the marketing plans and projects , recommend to senior management Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior management. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior management. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyza the productivity of the marketing plans and projects , recommend to senior management Salary Range: Php 30,000 - Php 59,999

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the marketing plans and projects , recommend to senior management Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Basic Qualification: Minimum 2+ years’ work experience required with at least 1 year experience in a similar role. Fluent in both French and English Language (TEF Canada Certified of French and IELTS for English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree holder preferred; Fluent in both English and Korean Language; BPO experience is an advantage. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least a college level. Has related work experience in procure-to-pay process. Telecom management related experience is an advantage. Fluency in Portuguese and English language both in written and verbal. Knowledge in other language in scope such as Spanish, French, Russian, Chinese, Japanese and Vietnamese is an Technology savvy. Computer literacy. Skilled in using basic MS Office applications Salary Range: Php 30,000 - Php 59,999

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City CAN NGOC NAM Chinese Customer Service 25.

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 CHIN LI HOW Chinese Customer Service

26.

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

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

HA VAN THANG Chinese Customer Service 27.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

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

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 Basic Qualification: LIEW SOON KAN Able to Speak, Read, Chinese Customer Service and Write Chinese Language 28. Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 Basic Qualification: MAI VAN QUANG Able to Speak, Read, Chinese Customer Service and Write Chinese Language 29. Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 Basic Qualification: NGUYEN QUANG LINH Able to Speak, Read, Chinese Customer Service and Write Chinese Language 30. Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 Basic Qualification: TRAN VAN CHAU Able to Speak, Read, Chinese Customer Service and Write Chinese Language 31. Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 Basic Qualification: VU VAN MINH Able to Speak, Read, Chinese Customer Service and Write Chinese Language 32. Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 Basic Qualification: ZHANG, XINGKE Able to Speak, Read, Chinese Customer Service and Write Chinese Language 33. Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 Basic Qualification: NGUYEN THI TUONG VI Able to Speak, Read, Chinese Customer Specialist and Write Chinese Language 34. Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City Basic Qualification: At least college level TAI BOON JACK and able to speak, read Malaysian Customer Service and write and type fluently in Mandarin 35. Brief Job Description: language. Offer full range of customer service to employer and clients. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level CHU VUI KUIEN and able to speak, read Malaysian Customer Service write and type fluently 36. in MALAY language. Brief Job Description: Offer full range of customer service to Salary Range: employer and clients. Php 30,000 - Php 59,999 Basic Qualification: Has excellent LIN, AOXIANG problem-solving and Mandarin Customer Relations Officer communication skills in MANDARIN, with 37. Brief Job Description: related BPO experience Handles the concerns of the people who buy their company’s products or services. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has excellent LIU, CONG problem-solving and Mandarin Customer Relations Officer communication skills in Mandarin, with related 38. Brief Job Description: BPO experience Handles the concerns of the people who buy their company’s products or services. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has excellent SU, ZHIMIN problem-solving and Mandarin Customer Relations Officer communication skills in Mandarin, with related 39. Brief Job Description: BPO experience Handles the concerns of the people who buy their company’s products or services. Salary Range: Php 30,000 - Php 59,999 TANG, PENGTAO Mandarin Customer Relations Officer 40.

Brief Job Description: Handles the concerns of the people who buy their company’s product or services.

HUANG, TING Mandarin Customer Service 41.

Brief Job Description: Offer full range of customer service to employer and clients.

No.

Basic Qualification: Has excellent problem-solving and communication skills in MANDARIN, with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read and write and type fluently in Mandarin language. Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LI, GAOBO Mandarin Customer Service 42.

Brief Job Description: Offer full range of customer service to employer and clients.

YAN, XIANGKUN Mandarin Customer Service 43.

Brief Job Description: Offer full range of customer service to employer and clients.

YANG, DILONG Mandarin Customer Service 44.

Brief Job Description: Offer full range of customer service to employer and clients.

HEIN TUN TUN OO Myanmari Customer Service 45.

Brief Job Description: Offer full range of customer service to employer and clients.

DINH THI CAM THO Vietnamese Customer Service 46.

Brief Job Description: Offer full range of customer service to employer and clients.

Thursday, July 1, 2021 A5

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

Basic Qualification: At least college level and able to speak, read and write and type fluently in Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read and write and type fluently in Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read and write and type fluently in Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read write and type fluently in BURMESE language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read, write and type fluently in Mandarin language. Salary Range: Php 30,000 - Php 59,999

BOUYGUES TRAVAUX PUBLICS PHILIPPINES, INC. U-708, 7/f, 3/f Tower One & Exchange Plaza Ayala Ave. Bel-air Makati City Basic Qualification: Minimum 20 years experience in NUGENT, PETER WAYNE reinforced concrete Project Superintendent bridge and structures, precast elements, Brief Job Description: 47. viaducts, experience To monitor project from planning to with metro / LRT completion and follow quality standards to projects ensure safety of the site, without engaging in the practice of engineering Salary Range: Php 30,000 - Php 59,999 CHROMELAB TECHNOLOGIES INC. 25/f Techzone Bldg. 213 Sen. Gil Puyat Ave. San Antonio Makati City Basic Qualification: Fluent and proficient in writing and speaking at KOTPRATOOM, SONGKRAN least 2 of the following Bi-lingual Speaking Customer Service Officer languages: English, Mandarin, Cantonese, Brief Job Description: Thai, Bahasa, Malasia, Resolves product or service problems Bahasa Indonesia, 48. by clarifying the customer’s complaint, Korean, Spanish and determines the cause of the problem, selects Portuguese. 1 year and explains the best solution to solve the experience of working problem, expedites correction or adjustment, in a similar role follows up to ensure resolution Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent and proficient in writing and speaking at TISUNTIA, KANJANA least 2 of the following Bi-lingual Speaking Customer Service Officer languages: English, Mandarin, Cantonese, Brief Job Description: Thai, Bahasa, Malasia, Resolves product or service problems Bahasa Indonesia, 49. by clarifying the customer’s complaint, Korean, Spanish and determines the cause of the problem, selects Portuguese. 1 year and explains the best solution to solve the experience of working problem, expedites correction or adjustment, in a similar role follows up to ensure resolution Salary Range: Php 30,000 - Php 59,999 COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg. Mckinley Hill Cyberpark Fort Bonifacio Taguig City Basic Qualification: SAKURAZAWA, YURI Typing/ Senior Process Executive - Data Communication Skills/ Japanese Language 50. Brief Job Description: expertise Provide support through media review of sports, entertainment and adult video content Salary Range: for Japanese Php 90,000 - Php 149,999 DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City LI, XIN Basic Qualification: Mandarin Speaking Customer Service Ability to communicate Representative in Mandarin Chinese with customers. 51. Brief Job Description: Delivering excellent customer services & Salary Range: managing the needs of the customer through Php 30,000 - Php phone calls and emails. 59,999 LIU, YANCAI Basic Qualification: Mandarin Speaking Customer Service Ability to communicate Representative in Mandarin Chinese with customers. 52. Brief Job Description: Delivering excellent customer services & Salary Range: managing the needs of the customer through Php 30,000 - Php phone calls and emails. 59,999 NG HONG POH Basic Qualification: Mandarin Speaking Customer Service Ability to communicate Representative fluently in Mandarin Chinese with customers 53. Brief Job Description: Delivering excellent customer service and Salary Range: managing the needs of customer through Php 30,000 - Php phone calls and emails 59,999

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QU, FEI Mandarin Speaking Customer Service Representative 54.

55.

56.

57.

58.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. WAN, RUI Mandarin Speaking Customer Service Representative Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails WU, QIANPAN Mandarin Speaking Customer Service Representative Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. ZHANG, CONGCONG Mandarin Speaking Customer Service Representative Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. ZHANG, YELIN Mandarin Speaking Customer Service Representative Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. ZHOU, PENG Mandarin Speaking Customer Service Representative

59.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

FENG, YING Marketing And Sales Agent 60.

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

LI, RUKONG Marketing And Sales Agent 61.

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

SHAO, ZHENZHEN Marketing And Sales Agent 62.

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

SUN, JIANHE Marketing And Sales Agent 63.

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

QUALIFICATION AND SALARY RANGE

Basic Qualification: Ability to communicate in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can contribute information, ideas, and research to help develop marketing strategies; Can help to detail, design and implement marketing plans for each product or services being offered. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can contribute information, ideas, and research to help develop marketing strategies; Can help to detail, design and implement marketing plans for each product or services being offered. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can contributes information, ideas, and research to help develop marketing strategies; can help to detail, design, and implement marketing plans for each product or service being offered. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can contributes information, ideas, and research to help develop marketing strategies; can help to detail, design, and implement marketing plans for each product or service being offered. Salary Range: Php 30,000 - Php 59,999

WANG, JINQIAN Marketing And Sales Agent 64.

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

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

ZHANG, ZHI Marketing And Sales Agent 65.

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

BusinessMirror

A6 Thursday, July 1, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

HWA LUN CORPORATION Unit 1606 B Sunjoy Bldg. 525 Lavezares St. Tondo I/ii Manila Basic Qualification: Knows how to fabricate CHEN, JIECHAO and install of all kinds Glass And Aluminum Installer of window, door and different types of 66. Brief Job Description: aluminum Site fabrication and installation of various rain-screen system installation Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to fabricate LI, WEIPING and install of all kinds Glass And Aluminum Installer of window, door and different types of 67. Brief Job Description: aluminum Site fabrication and installation of various rain-screen system installation Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to fabricate TANG, YAXIN and install of all kinds Glass And Aluminum Installer of window, door and different types of 68. Brief Job Description: aluminum Site fabrication and installation of various rain-screen system installation Salary Range: Php 30,000 - Php 59,999 IBM BUSINESS SERVICES, INC. 7th To 9th Floors, 1800 Bldg. Eastwood City Cyberpark Brgy. Bagumbayan Quezon City Basic Qualification: Must be a college VITALIS, NGWA CHEO graduate with formal Client Services Manager (french) business qualifications 69. or equivalent Brief Job Description: Provide a highly skilled analytical assistance to Salary Range: management teams Php 60,000 - Php 89,999 Basic Qualification: LIU, MINGYANG Must be a college Practitioner - Senior Service Associate graduate with formal Mandarin business qualifications 70. or equivalent Brief Job Description: Build and maintain business relationships Salary Range: with clients by providing prompt and accurate Php 60,000 - Php service 89,999 INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor Eight West Campus Mckinley West Fort Bonifacio Taguig City Basic Qualification: LILIANA Able to speak and Indonesian Customer Support Representative write in Malay and at least college level with 71. Brief Job Description: related BPO experience Support customer by providing helpful information, answering questions and Salary Range: responding to complaints. Php 30,000 - Php 59,999 Basic Qualification: HUANG, XIAOFANG Able to speak and Mandarin Customer Support Representative write in Malay and at least college level with 72. Brief Job Description: related BPO experience Support customer by providing helpful information, answering questions and Salary Range: responding to complaints. Php 30,000 - Php 59,999 Basic Qualification: LI, ZHI Able to speak and Mandarin Customer Support Representative write in Malay and at least college level with 73. Brief Job Description: related BPO experience Support customer by providing helpful information, answering questions and Salary Range: responding to complaints. Php 30,000 - Php 59,999 Basic Qualification: SUN, LIMEI Able to speak and Mandarin Customer Support Representative write in Malay and at least college level with 74. Brief Job Description: related BPO experience Support customer by providing helpful information, answeing questions and Salary Range: responding to complaints. Php 30,000 - Php 59,999 Basic Qualification: WANG, ZIWEN Able to speak and Mandarin Customer Support Representative write in Malay and at least college level with 75. Brief Job Description: related BPO experience Support customer by providing helpful information, answeing questions and Salary Range: responding to complaints. Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write WU, ZICHUANG in MANDARIN/FUKIEN Mandarin Customer Support Representative and at least college level with related BPO 76. Brief Job Description: experience. Supports customers by providing helpful information, answering questions, and Salary Range: responding to complaints. Php 30,000 - Php 59,999 Basic Qualification: XUE, SHIBIAO Able to speak and Mandarin Customer Support Representative write in Malay and at least college level with 77. Brief Job Description: related BPO experience Support customer by providing helpful information, answeing questions and Salary Range: responding to complaints. Php 30,000 - Php 59,999 JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House Magallanes St. 069, Bgy. 655 Intramuros Manila SHARILOO, ALI REZA Basic Qualification: Strategic And Facilitation Officer Must be fluent in Chinese language 78. Brief Job Description: Your primary function is to help the company Salary Range: and its chinese clients to generate more Php 30,000 - Php income for the company 59,999 ZHAO, XINXIN Basic Qualification: Strategic And Facilitation Officer Must be fluent in Chinese language 79. Brief Job Description: Your primary function is to help the company Salary Range: and it’s Chinese clients to generate more Php 30,000 - Php income for the company 59,999

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

JTI GBS PHILIPPINES, INC. 14th And 17th Floor - Office A Ten West Campus Building, Mckinley West Fort Bonifacio Taguig City Basic Qualification: College graduate, CPA LORD, MICHAEL is a plus at least 3years Financial Planning & Analysis Expert of FP & Experience in FMCG. Fluent in English Brief Job Description: and Proficient in MS 80. Provide financial support in budgeting/ Office, SAP BW/BPC/ planning /forecasting and performance Analysis and TM1 management processes to markets in scope of GBS Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Bachelor’s degree LORD, REBECCA LOUISE in related field 5* Global Travel Competency Centre Manager years relevant work experience in global Brief Job Description: and expense and Provide overall to the teams and their indirect procurement customers globally ensure that all global travel strong command 81. and expense transactions are completed of English (oral and accurately efficiently & in accordance with written ) proficient in JTI policies and Procedures responsible MS Office suite sap for implementing processes and system concur ETC. improvement initiatives managing and driving the development of knowledge relating to Salary Range: SAP system and concur Php 150,000 - Php 499,999 KMTC (PHILIPPINES) CORPORATION 9f Times Plaza Bldg. Un Ave. Cor. Taft Ave. Ermita 072 Bgy. 666 Ermita Manila IM, HYUNGJIN Basic Qualification: Country Manager Foreign branch office representative. Brief Job Description: Knowledgeable in 82. To manager and control overall operations Shipping line business. of the company by directing and leading in activities in line with the established goals, Salary Range: objectives and policies approved by the Php 90,000 - Php President and Head Office. 149,999 M AND J SOLUTIONS PROVIDER INC. Ub 111 Paseo De Roxas Bldg. Paseo De Roxas San Lorenzo Makati City Basic Qualification: Bachelor’s degree TEGEN, FRANK in engineering and Senior Project Engineer related courses A minimum of Brief Job Description: 10 years project Develop and execute the operations engineer experience projects with multiple projects engineers and management and managers within the region including experience Skills 83. engineering, procurement, EPCM, owners in capital project team management consultants. Responsible management is a for projects functions included but not limited must Deutsch national to project management site management preferred English project, project control management speaker engineering management, procurement etc. Are all coordinated and properly staffed to Salary Range: meet the project (s) goals. Php 60,000 - Php 89,999 MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City Basic Qualification: CHEN, YUAN Proficient in speaking , Mandarin Speaking Customer Relations Reading and writing in Service Provider mandarin 84. Brief Job Description: Responsible for handling service support calls

85.

MA, FAHANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

86.

NG TIAN GUAN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

87.

REN, HAIBAO Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

88.

REN, QIANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

89.

WANG, XIANGMING Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

90.

WANG, TAO Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

91.

WU, JEN-NI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

92.

XIE, YANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

www.businessmirror.com.ph

No.

93.

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

94.

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

YANG, LU Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

95.

ZHANG, MING Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

96.

ZHAO, DUJIA Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

97.

ZHOU, WEI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

QUALIFICATION AND SALARY RANGE

Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking , Reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking , Reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking , Reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City NGO TRUONG AN Chinese Customer Service 98.

99.

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

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 LIU, JING Chinese Customer Specialist

102.

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

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 ZHAO, YANG Chinese Customer Service

101.

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

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 ZHANG, SONGSHAN Chinese Customer Service

100.

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

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999 NGUYEN HOANG TRUNG DAI Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service Salary Range: inquiries Php 30,000 - Php 59,999

MUFG BANK, LTD. Oledan Square 15/f 6788 Ayala Ave. San Lorenzo Makati City

103.

TANAKA, YUKI Vice President/ Team Head For Japanese Corporate Banking Brief Job Description: Plans, directs and oversees business promotion activities of the department

Basic Qualification: 4 year college/ university degree in economics or any related business course Salary Range: Php 90,000 - Php 149,999

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Parañaque City

CHEN, ZHIXIN Chinese Customer Service 104.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking , Reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking reading and writing in mandarin

YANG, KUNJIAN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

GUAN, HENGLEI Chinese Customer Service 105.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

HU, YU Chinese Customer Service 106.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

JI, XINTAO Chinese Customer Service 107.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

LI, GUOLIANG Chinese Customer Service 108.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

LIANG, MINGHONG Chinese Customer Service 109.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

LIU, XUYI Chinese Customer Service 110.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

SHANGGUAN, JIAWEI Chinese Customer Service 111.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

SU, GUANGMING Chinese Customer Service 112.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

WANG, WEI Chinese Customer Service 113.

Brief Job Description: Manages incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

WANG, CHAO Chinese Customer Service 114.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

WEI, ZHIPING Chinese Customer Service 115.

Brief Job Description: Manages incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

YANG, WENHUI Chinese Customer Service 116.

Brief Job Description: Manages incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

ZHU, SHIYANG Chinese Customer Service 117.

Brief Job Description: Manages incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English.

No.

118.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English.

119.

120.

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

QUALIFICATION AND SALARY RANGE

Brief Job Description: Achieve growth and hit sales targets by successfully managing the sales team.

Basic Qualification: Proficient in Writing, reading and speaking Chinese Mandarin, Fookien and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Writing, reading and speaking Chinese Mandarin, Fookien and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Writing, reading and speaking Chinese Mandarin, Fookien and English Salary Range: Php 30,000 - Php 59,999

PROCTER & GAMBLE PHILIPPINES BUSINESS SERVICES, INC. 11th Flr. Seven Neo Bldg. 5th Ave. Crescent Parkwest, Bgc Fort Bonifacio Taguig City SO, YOUN Procurement Manager 121.

122.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English.

Brief Job Description: Meets with customer in a sales environment to drive product sales and knowledge

ZHOU, CONGHU Sales Manager (mandarin Speaking)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English.

LI, LIUMING Consultant Sales Manager Service (mandarin Speaking)

YOU, XU Sales Manager (mandarin Speaking)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English.

ESTABLISHMENT / ADDRESS

NZH INTERNATIONAL VEHICLE AND MACHINERY, INC. Unit 302-a 3/f King Center Bldg. #57 Sgt. E. Rivera St. Manresa 1 Quezon City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Involve in managing the purchasing team for daily procurement operations under Asis Low Touch buying team of the company.

123.

Basic Qualification: Supported Korea and Japan Plant Support Activities Procurement Operations. Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Fluent in both English RAMACHANDRAN, KAZUMI and Japanese; With Purchasing Group Manager background in various business categories and Brief Job Description: well trained in overall To lead a team to strategically engage with 3rd purchases organization. party contract manufacturer across the Asia. Salary Range: Php 500,000 and above KEYS, CHRISTOPHER EDWARD Director Of Product And Information Security Brief Job Description: Part of the Mancom Team Addressing: Product Management, Strategy & Planning, Information and Data Security & Privacy Management

Basic Qualification: 5 yrs Banking/Telco Experience, NPCRegistered DPO, 3 yrs CSCO, Deep Knowledge of SMS, 6-sigma PM BSC. Salary Range: Php 150,000 - Php 499,999

RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila Basic Qualification: Proficient in speaking, reading and writing in Mandarin

Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English.

124.

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

SMARTMATIC PHILIPPINES, INC. Unit 2208 22nd Floor The Trade And Financial Tower 7th Ave. Cor. 32nd St., Bgc Fort Bonifacio Taguig City

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (Mandarin & English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the similar field, speaks and write fluently in Mandarin and English. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (Mandarin & English) Salary Range: Php 30,000 - Php 59,999

WANG, CHENGLONG Mandarin Account Staff

GUEVARA SERRANO, GERALDINE President And General Manager 125.

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (Mandarin & English) Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Support region President on business opportunities

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

NISHI, YOSUKE Chief Executive Officer 126.

Brief Job Description: Have full obligations and responsibility to the whole operational management of the corporation itself.

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

Basic Qualification: Strong understanding of business functions such as sales, marketing, operations, and finance

LIU, XUAN Chinese It Support Specialist Brief Job Description: Maintain a content data base of all online roofline content

127.

Brief Job Description: Develop and implement policies and secure procedures for effective data management with attention to all technical aspects and recommend growth strategies that will help the company expand

Basic Qualification: Extensive knowledge of Eastern European Market, Experience in strategy formulation, competitor analysis, market analyses and workflow development, Fluency in oral and written Eastern European languages - Polish, Russian and German, Bachelor Degree in Marketing

TENMAN PROJECT MANAGEMENT INC. Unit 805-808 The One Executive Office Bldg. #5 West Ave. Nayong Kanluran 1 Quezon City

128.

Brief Job Description: Overall responsibility for the successful conclusion of construction management projects

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

BUNSA, NATTAWUT Thai Language Customer Service Representative

Basic Qualification: Proficient in writing , Reading and Speaking in both English and BAHASA/CHINSES/ VIETNAMESE

Brief Job Description: Report on a daily operation of call center activities performing customer-oriented Salary Range: telephone activities and various background Php 30,000 - Php operations duties 59,999 UNG NGOC LIEN Vietnamese Language Customer Service Representative

Basic Qualification: Proficient in writing , Reading and Speaking in both English and BAHASA/CHINSES/ VIETNAMESE

XINCHUAN INTERNATIONAL ECONOMIC AND TECHNOLOGICAL PHILIPPINE PROJECT LTD CORP. 16/f Tower 6789 6789 Ayala Ave. Bel-air Makati City Basic Qualification: Proven experience as a Mandarin Asset Management Analyst, LONG, JIALING Familiarity, knowledge Mandarin Asset Management Analyst and awareness on Machinery and Brief Job Description: Heavy Equipment The Mandarin Asset Managament Analyst use by company, will be strategist and a leader able to Demonstrable steer the company to the most profitable experience in direction while also implementing its vision, developing strategic mission and long term goal. business plan. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin Facilities Construction Analyst, Familiarity, knowledge LI, ZHENG and awareness on Mandarin Facilities Construction Analyst Machinery and Heavy Equipment Brief Job Description: use by company, The Mandarin Facilities Construction Demonstrable Analyst will be strategist and a leader able to steer the company to the most profitable experience in direction while also implementing its vision, developing strategic business plan. mission and long term goal. Salary Range: Php 30,000 - Php 59,999

HE, PING Mandarin Financial Supervisor Brief Job Description: The Mandarin Financial Supervisor, will be strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goal.

Basic Qualification: Proven experience as a Mandarin Financial Supervisor, Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 500,000 and above

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

BLACKNEY, JASON STEVEN Project Director

Basic Qualification: Fluent speaking Chinese/ Mandarin

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

SUPERDRYERS PHILIPPINES INC. G/f Valderrama Bldg. 107 Esteban St. San Lorenzo Makati City

KORNIEIEV, DMYTRO Data Analyst - Team Leader / Brand Development Consultant For European Markets

QUALIFICATION AND SALARY RANGE

TIANYU TECHNOLOGY INC. 42/f Pbcom Tower Ayala Avenue Cor. V.a Rufino Street Bel-air Makati City

Basic Qualification: Masteral in Information Technology

SOJITZ G AUTO PHILIPPINES CORPORATION Unit Gc15 Edsa Grand Residences 75 Corregidor St. Edsa, Ramon Magsaysay 1 Quezon City

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (Mandarin & English) Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Prepare general ledger entries by maintaining records and files

Thursday, July 1, 2021 A7

Basic Qualification: University degree holder and must have handled international projects Salary Range: Php 150,000 - Php 499,999

LU, JIHUAI Mandarin Project Supervisor Brief Job Description: The Mandarin Project Supervisor will be strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goal.

Basic Qualification: Proven experience as a Mandarin Project Supervisor, Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan. Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jun 30, 2021

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-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

TheBroaderLook BusinessMirror

A8 Thursday, July 1, 2021

www.businessmirror.com.ph

PHL urged to do more

in protecting porous digital ‘borders’ By Rizal Raoul Reyes

@brownindio

ONSIDER this: P52.4 million—the cost of a SINGLE cyberattack at an enterpriselevel—is P2.4 million more than the annual fund set aside for the implementation of Republic Act (RA) 10175, or the Philippines’s Cybercrime Act. Consider if these attacks are brought upon one of the country’s major revenue-generators: business process outsourcing (BPO) firms. With such a chilling possibility, Singapore-based Ian Lim, field chief security officer of Palo Alto Networks Inc., told the BusinessMirror that the Philippines must not lower its guard because of the strong possibility of attacks on its BPO industry. Being a global leader in the BPO, the country is a prime target as hackers and cybercriminals are eyeing the Philippines for its upstream activities especially global companies, Lim said. “The borderless workforce also presents huge opportunities and expands the organizations and enterprises,” Lim told the BusinessMirror. “This made companies jump on that bandwagon really quickly and whenever you do something quickly, chances are you might have exposures that you have not sorted out.” Lim added that in these uncertain times, cybersecurity has become a major issue for both the government and the private sector. “Dealing with cybersecurity is not a luxury anymore: it’s a necessity.” The sense of urgency in Lim’s tone is emphasized with the increase in cases of a cyberattack considered lethal for revenuegenerators: ransomware.

Gaining data

RANSOMWARE 2.0 had a banner year in 2020 in the Asia Pacific region, according to cybersecurity provider Kaspersky Lab. R a nsomwa re 2.0 refers to groups who moved from hostaging data to ex-filtrating data, coupled with blackmail. The aftermaths of a successful attack include significant monetary loss and damaging reputation. Palo A lto Networks’ recent study revealed that the average cost for one ransomware attack is over $312,000 or almost P17 million. According to Kaspersky Lab Lead Malware Analyst A lexey Shulmin, the company noticed an interesting re-emergence of two highly-active groups in the Asia-Pacific region: “REvil” and “JSWorm.” “Both resurfaced as the pandemic rages in the region last year and we see no signs of them stopping anytime soon,” Shulmin was

quoted in a statement as saying. It was his firm that first wrote about “REvil” in July 2019. Also known as “Sodinokibi” and “Sodin,” this group initially distributed itself through an Oracle Weblogic vulnerability and carried out attacks on managed service providers. While the activities of “REvil” peaked in August of 2019 with 289 potential victims, Kaspersky telemetry monitored fewer detections until July last year, Kaspersky Lab said. From targeting only 44 Kaspersky users globally that month, the ransomware group stepped up their attacks, it added. Nevertheless, Kaspersky Lab said it managed to protect 877 users in July from this threat, logging a 1,893-percent increase in a span of just one month.

Increasing attack

FURTHERMORE, Kaspersky Lab said its monitoring revealed the people behind ransomware have actively spread their malicious arms from the Asia-Pacific region to the world. According to Shulmin, back in 2019, most of the victims were only from Asia-Pacific—particularly Taiwan, Hong Kong and South Korea. “However, Kaspersky detected last year their presence in almost all countries and territories. It is safe to say that during their ‘silent months,’ [the] ‘REvil’ creators took their time to improve their arsenal, their method of targeting victims and their network’s reach,” Shulmin added. One thing was unchanged, though: the Asia-Pacific region remained one of the top targets for REvil, he said. The company said that out of 1,764 Kaspersky users targeted by the group last year, 635 or 36 percent of these companies were from the region. Brazil, however, logged the most number of users almost infected with this threat, followed by Vietnam, South Africa, China and India. In its study, Kaspersky Lab said it found that the biggest targets in terms of industry fall under engineering and manufacturing (30 percent). This is followed by finance (14 percent) and professional and consumer services (9 percent). The legal, information technology (IT) and telecommunications and food and beverage industries received equal attention at 7 percent.

Very urgent

LIK E “R Ev il,” “JSWor m” a lso entered the ransomware landscape in 2019. However, the geographical distribution of its initial victims was more varied. Initially, its spread was detected across the globe, from Brazil, Argentina and the United States through to Italy, France and Germany. Its spread was also detected in South Africa, Turkey and Iran and in Vietnam. Moreover, Kaspersky Lab staff noticed a shift of the group’s attention towards the Asia-Pacific region. China emerged as the country with most number of Kaspersky Security Network users almost infected by the “JSWorm” ransomware. It is followed by the US, Vietnam, Mexico and Russia. Last year, however, more than one-third or 39 percent of all the enterprises and individuals this group has targeted were located in the Asia-Pacific region. Companies like Huawei Corp. became antsy with these developments. It recently opened its largest global cyber security and privacy protection transparency center in Dongguan, China. Huawei also released its “Product Cyber Security Baseline,” marking the first time the company has made its product-security baseline framework and management practices available to the industry as a whole.

Exchange for cash

JOANNE Wong, LogRhythm Inc. vice president for international markets, pointed out that ransomware attacks are one of the most damaging cyberattacks on organizations, where businesses’ data stores are held “hostage” in exchange for payments. “Not only does this disrupt operations and potentially lead to the loss of sensitive data, but businesses also face damages in their reputation and a loss in consumer trust,” Wong said. Last year, she said there was a 160-percent year-on-year increase in ransomware events. Wong believes this figure would rise as established ransomware operators refine their techniques and take advantage of organizations’ fear and anxiety. “What I’ve noticed is that the ‘double extortion’ tactic has become more prevalent,” she explained. “These malicious actors not only demand a ransom to allow businesses to regain access to their data but they also threaten to release this data online unless their terms are met.” “Moreover,” Wong said, “they are making copies of the data before encrypting” the data. “So there is a real potential to leverage a second ransom and a risk of data leak down the line,” she added.

Serious threat

AS recently as last month, a French insurance giant was recently hit by a ransomware attack that disrupted IT operations across offices in Thailand, Malaysia, Hong Kong and the Philippines. In light of the global pandemic,

the Interpol has also highlighted that increasing attacks are carried out across public institutions such as hospitals and medical centers. In particular, hospitals in Indonesia and Thailand have fallen victim to such attacks. “It has been observed that cybercriminals are taking advantage of the economic downturn and people’s anxiety by tweaking their social engineering tactics to include Covid-19-related themes,” the Interpol said in its “Asean Cyberthreat Assessment 2021” report released this month. “According to our findings, key Covid-19-inflicted cyberthreats are phishing/scam/fraud at 59 percent, malware/ransomware at 36 percent, malicious domains at 22 percent and fake news at 14 percent.” The Interpol report noted that in the Philippines, “a huge increase in online scams was also recorded.” The Interpol said there were 869 cases reported within a 6-month period, an increase of 37.3 percent compared to the same period for 2019. Identity theft also increased by 21.47 percent with 362 cases.

Leverage methods

STILL, the telemetry of ESET spol. sro has shown a 31-percent decrease in ransomware detection in the Philippines within the first four months of the year against the same period in 2020. However, the Slovakian Internet security firm noted this declining trend, which had also been reported by other vendors, might not necessarily paint the full picture Ransomware sent directly in emails or via links is nowadays an uncommon sight as cybercriminals prefer to deploy it at the last stage of a multistep compromise chain, according to Eset. As most attacks intending to deliver ransomware are identified and blocked at the beginning of a compromise chain—before the ransomware is introduced—they are statistically not logged as a ransomware attack. On the bright side, Wong said the effects of ransomware attacks can be mitigated, primarily by minimizing the time spent by intruders on the enterprise network. To achieve this objective, organizations must enforce cybersecurity defenses that allow them to effectively monitor company networks so they can rapidly detect the intrusion and roll out the necessary interventions to eradicate the threat and recover. “With cyber criminals continuing to leverage more sophisticated methods in their attacks, organizations must remain vigilant and empower their team with the tools they need to respond.”

Borderless environment

SADLY, Lim noted, people are not updating their security paradigm. Liv ing in a borderless env ironment, people must remember network security may not be enough and they should change their out look on secur it y, he stressed. As far as Palo Alto is concerned,

the Zero-Trust architecture is a key step towards a strong cybersecurity program. He recommends that monetary authorities, specifically, move to upgrade cybersecurity of the central bank and not expand explicit trust without verifying first. According to the United Nations-commissioned International Telecommunications Union, the Philippines ranked in the middle in terms of the Global Cybersecurity Index (GCI). For Lim, cybersecurity laws should mandate the public and private sectors to improve cybersecurity and transform this into a more board-level conversation. These measures will not only boost GCI ratings but also help the cybersecurity posture of the Philippines to mature, he said. “The recent cyberattacks in the US have encouraged top officials of organizations to ask questions leading to the creation of a higher baseline for cybersecurity requirements,” Lim said. “Singapore and Australia are doing it right now.” According to him, the Philippines should investigate ways to mandate for public and private sectors to focus on raising the security posture.

Education matters

LIM pointed out that education plays an important role in accelerating the development of the country’s cybersecurity capability. Moreover, he believes there should also be a strong collaboration between the public and private sectors to ensure better knowledge-sharing across the board. “We need to continue fostering local and global collaboration to do more joint initiatives,” Lim said, echoing Huawei’s Hu. He cited Palo Alto Networks’s initiative called “Cyber Aces (Activities in Cybersecurity Education for Students)” program to help give a clearer understanding for children ages 5 to 15 years old. “This gives them a better view of cybersecurity and its threats and implications,” he said. The initiative, according to him, is in light of current problems of the lack in qualified cybersecurity experts. Lim said the demand for cybersecurity experts in the global market is massive and cultivating the local talent and meeting those demands is a huge challenge. Nevertheless, he is confident the Philippines can hurdle this obstacle. “The Philippines, however, is greatly poised to excel in this area and having a huge BPO industry can translate to the fact that the country has a very strong technical workforce,” Lim said. “Given the right incentive, this will benefit companies and organizations. In the long run, this can also manifest in the country’s GDP [gross domestic product].”

Network unity

FOR Lim’s colleague, Palo Alto Networks Inc. Philippines Country Manager Oscar Visaya, the bigger challenge is to persuade

orga n i z at ions to push c yber security programs. Visaya cited the company’s partnership with the Philippines Institute of Cybersecurity Professionals (PICSPro) and the Women in Cybersecurity Alliance in educating the general public with these threats in the digital space and the need to address the shortage in skills. He also cited the Asian Institute of Management’s Cybersecurity Executive Education program. The private sector and the academe have launched initiatives to help everybody and attend cybersecurity education initiatives, he said. “It’s important to have the boardroom understand this also plays a big role in securing technology pieces, aside from cybersecurity officers,” Visaya said. “Incident responders, analysts and architects, along with the management, should work together in educating themselves so that it comes together across all spectrums.” This, according to him, would help address the skill gaps.

End-to-end visibility

ACCORDING to Lim, addressing all recent cyberattacks, including ransomware variants, boils down to “Zero Trust.” He cited a recent ransomware attack in the US involved just one password, which led to gaining unchallenged access to critical areas across the company’s environment. In response to the growing attacks by cybercriminals, there is a call for the establishment of a new paradigm to replace the current setup of security architecture. The existing model is based a lot on implicit trust, wherein people trust an authentication but fail to check its authenticity. “The new paradigm that we are trying to push is . . . we need to get rid of implicit trust by adopting a ‘Zero Trust’ mindset,” Lim said. In other words, the mantra is ‘Trust No One.’” Visaya explained that the “Zero Trust” model “is a collaborative effort for an organization.” “While it is not a product or service, this has been heavily advocated by Palo Alto Networks Philippines by putting in much effort to the education, awareness and training for it,” he said. “This helps the organization to be more ready and create a safer space for digital assets.” According to Visaya, a Zero Trust mindset must be placed in networks, end-points, in the cloud and the Internet of Things. It requires continuous monitoring and validation, getting end-to-end visibility across all access points and utilizing artificial intelligence and machine learning technology to baseline the normal and what is needed, he added.

Forward looking

FOR Christina Liang-Boguszewicz, founder of BI Consulting Group LLC, the Philippines took the right path in defending its cyber borders in 2018 when it acceded to the Budapest Convention on Cybercrime.

TheBroaderLook BusinessMirror

Thursday, July 1, 2021

BM GRAPHICS: JOB RUZGAL

Editor: Dennis D. Estopace

The Convention, also known as Treaty 185, is “the first international treaty on crimes committed via the internet and other computer networks, dealing particularly with infringements of copyright, computer-related fraud, child pornography and violations of network security.” The Budapest Convention was drawn up by the Council of Europe in Strasbourg, France, with the Council of Europe’s observer states Canada, Japan, Philippines, South Africa and the US. The Office of Cybercrime of the

Department of Justice is the authority “mainly responsible for making or receiving requests for extradition or for mutual assistance with another State Party” in relation to Treaty 185. Still, Liang-Boguszewicz suggests the Philippine government a lso par ticipate as an active member of the Ransomware Task Force (RTF). This would allow it to be a stakeholder, have access to the industry best practices, and integrate the policies and solutions as part of the group’s cyber defense

framework, she explained. With over 60 members from software companies, government agencies, cybersecurity vendors, financial ser vices companies, nonprofit groups and academic institutions, the RTF is working on a comprehensive framework of actionable solutions. “Their work synthesized best practices across sectors, identified solutions in all steps of the ransomware ‘kill chain,’ targeted gaps in solution application, and engaged stakeholders across industries to coalesce around a di-

verse set of ideas and solutions,” Liang-Boguszewicz said.

In due time

FOR Visaya, however, a cybersecurity law needs to be enacted. He told the BusinessMirror such law would put in place the cor rect framework across a l l industries. “More than the Cybersecurity Plan 2022 [of the Department of Information and Communications Technology], we need a law to address cybersecurity threats as the country embraces digitization and

cloud-first policies,” he said. The financial aspect is herculean as the country needs to invest at least $2 billion to achieve global standards on cybersecurity, according to Visaya. “Furthermore, there is a need for all these for best practices to be operationalized as [cybersecurity] can get very complex,” he added. According to Lim, the Cybersecurity Plan 2022 and other existing laws like R A 10175 must be complemented by mandates with a budget, direction and high prioritization.

“The Executive branch also has to rally together the people so they can do the work that needs to be done,” he said. “Preparedness is the key because without it, [we] are vulnerable to different cyberattacks.” Lim added that collaboration and coming together are the keys to address skills-gap and the manpower-gap. “With the Philippines being a market leader in the BPO industry, the country is poised to become a leader in cybersecurity,” in due time.

Economy

A4 A10

Thursday, July 1, 2021 • Editor: Vittorio V. Vitug

BusinessMirror

www.businessmirror.com.ph

Govt agencies, biz team tie up aims to generate 1-million jobs By Tyrone Jasper C. Piad @TyronePiad

EV ER A L pr ivate sector g r o u p s a n d g o v e r n m e nt agencies signed on Wednesday a manifesto establishing a partnership project seeking to generate 1 million jobs this year amid the pandemic. The collaboration between the National Employment Recovery Strategy (NERS) Task Force and the Employers’ Confederation of the Philippines (ECOP) aims to support the government’s employment recovery plan following the recent surge in joblessness. “The project aims to immediately source Filipino talents for deployment in the construction, manufacturing [particularly semiconductors and electronics], tourism and hospitality, and export industries, under a policy environment that would help create jobs all over the country,” the manifesto reads.

Department of Trade and Industry (DTI) Secretary Ramon M. Lopez welcomed the partnership, saying this will help the country in making its way toward recovery. “This is a big boost in our work at the NERS Task Force in bringing back lost employment and reinvigorating the labor market with increased economic activities,” he said. Under the partnership, the business sector is tasked in identifying job vacancies, seeking job opportunities for qualified but unemployed individuals and holding job caravan events. The private sector groups shall recommend proposals to improve the business environment to the NERS Task Force. This, in addition to providing assistance in post-job caravan events, including onboarding process, vaccination process and reskilling or upskilling referrals. The business sector is also tasked to “provide other support and monitoring mechanisms in the imple-

mentation of the project.” The NERS Task Force, meanwhile, will facilitate coordination in securing vaccines for qualified workers and provide the profile of workers eligible to apply. It will also work with relevant stakeholders in conducting job fairs. The task force shall coordinate and provide assistance to the business sector, especially on matters relating to improving job generation. It shall work with the local government units as on the provision of transportation services to workers who will receive their vaccination. The government agencies are responsible for the continued implementation of the Telecommuting Act and other measures promoting alternative work arrangements. It is also the duty of the task force to provide trainings for employees not qualified for the job vacancies. Lopez, on behalf of the NERS Task Force, vowed to deliver on their duties and responsibilities under

SSS launches redesigned mobile app for members and employers By Bernadette D. Nicolas @BNicolasBM

TATE-RUN Social Security System (SSS) has rolled out its improved mobile app with new design features to make it more userfriendly for members and employers. SSS President and Chief Executive Officer Aurora Ignacio said the new mobile app, which has a new look and feel with its improved user interface, features a redesigned dashboard and enhanced branch locator feature. Ignacio stressed the need for them to embrace technological developments since digital technology has paved the way for easier and safer access to their services and transactions, especially during the Covid-19 pandemic. “Aside from My.SSS Web portal, the SSS Mobile App is our top online facility that caters to millions of transactions from members and employers. We recognize that mobile technology is continuously improving, and that is why we keep our mobile app abreast with the latest development to serve our users better,” Ignacio added. The redesigned dashboard now presents information on the enrolled disbursement account of the member, as well as direct links to official SSS

accounts on Facebook and YouTube. It allows users to access transactional information and enables users to navigate the mobile app even using just one hand. Through its improved branch locator feature, users can now easily search for any SSS branch and the mobile app will pin the exact location of the branch using Google Map for Android and Huawei Petal Maps smartphone users. Thumbnails containing the address and contact details of the branches are also displayed on the locator map. Members can use the SSS mobile app for many SSS transactions, including updating their contact information details; viewing the status of contributions, loans, and benefit claims; filing their salary loan application; generating the Payment Reference Number (PRN) for contribution payment; payment of monthly contributions; and submission of maternity notification, among others. Employers can also now use the mobile app for their transactions, such as updating their contact information, viewing enrolled bank information and the status of the contribution and loan payments. They can also use the mobile app to generate the PRN for contribution

payments, check contributions to the Employees’ Compensation Program, and file their sickness and maternity reimbursement claims. Members and employers with existing SSS mobile app on their devices are urged to go to the app store and update the app to the latest version (Version 4.0.0 in the Google Play store and Version 4.0.1 in Huawei AppGallery). The new SSS mobile app is not yet available on the iOS App Store but Ignacio said they are currently in talks with Apple to make the app available for iOS devices “in the near future.” If the update button is not yet available, app users are advised to uninstall the previous version and install the latest one. Launched in 2018, the SSS mobile app is designed to provide a more convenient way for members to transact with the state pension fund without the hassle of queuing in the branches. It was initially developed for members and was expanded for the use of memberemployers in December 2020. Since its launch, the SSS mobile app has facilitated an average of 85,000 transactions daily. As of May 31 this year, the total cumulative number of downloads of SSS mobile app has already reached 15.36 million.

the partnership. “Through our efforts, we will provide the needed jobs and employment our people need—not only to survive the present pandemic, but to thrive and gain a more comfortable and better quality of life in the post-pandemic future,” he added. Apart from DTI, the signatories from the government include the Department of Labor and Employment, Technical Education and Skills Development Authority, Department of Transportation, Department of the Interior and Local Government, Department of Tourism and Commission on Higher Education. Joining ECOP for the private sector are the Philippine Chamber of Commerce and Industry, Philippine Exporters Confederation Inc., Hotel and Restaurant Association of the Philippines, Philippine Constructors Association, Philippine Hotel Owners Association Inc. and Semiconductor and Electronic Industries in the Philippines Inc.

PHL, Sri Lanka to widen trade, labor, tourism, security ties

RESIDENT Duterte is now eyeing to strengthen the country’s security, trade, labor, and tourism relations with Sri Lanka. The Office of the President said these are the possible “new opportunities,” which were discussed during his phone conversation with Duterte’s Sri Lankan counterpart President Gotabaya Rajapaksa last Monday. The event coincided with the commemoration of the 60 years of Philippine-Sri Lanka diplomatic relations. Both leaders also agreed to cooperate in combatting the novel coronavirus disease (Covid-19). “We look forward to sustaining this and exploring further the full potential of our cooperative ties,” President Duterte said in a news statement. Rajapaksa invited the Philippine leader to visit Sri Lanka when the “global situation normalizes” to further discuss such undertakings. During the phone conversation, the President also thanked the Sri Lankan government for helping in the repatriation of Filipinos, particularly those who were among the crew of MT New Diamond, which caught fire off the eastern coast of Sri Lanka last year. Samuel P. Medenilla

‘Rising global oil prices should prompt govt to reconsider fuel stockpiling option’

MID rising global prices, a senior lawmaker on Tuesday urged the Duterte administration to accelerate plans to set up the country’s own oil stockpile reserves to ensure stable supply and prices of petroleum products. Camarines Sur Rep. Luis Raymund Villafuerte, in a news statement, said “the steady increase in global oil prices indicate an upside risk that could further drive up inflation and exacerbate the economic shocks buffeting ordinary Filipinos as a result of the protracted coronavirus pandemic.” Just recently, he said, diesel prices went up for the 10th week in a row, this time by 70 centavos per liter—or a total of P4.60 per liter as crude oil prices exceeded $70 per barrel in the world market. Gasoline prices went up by 75 centavos per liter and those

of kerosene by 70 centavos per liter. Villafuerte added pump prices of these petroleum products are expected to go up anew this week, with gasoline and diesel prices projected to rise by P1.05 to P1.15 per liter, and diesel and kerosene by a respective 60 to 70 centavos per liter and 65 to 75 centavos per liter. The Camarines Sur legislator recalled that almost two years ago, he already backed the view by Energy Secretary Alfonso Cusi that the country needs strategic oil reserves so the government can be part of the fuel supply chain to ease the impact of global market volatilities on consumers by ensuring a stable domestic fuel supply. “Given the adverse impact of any oil price surge on the cost of basic commodities and on transport fares, the government must take all nec-

essary measures, including putting up its own oil reserves, to stave off a further spike in inflation that has already gone up this year because of the abnormal jump in the retail cost of fresh pork resulting from the two-year ASF [African swine fever] outbreak,” Villafuerte said. He said the recent signing by the Department of Energy (DOE) and the Japan Oil, Gas and Metals National Corporation (JOGMEC) of a Memorandum of Agreement (MOA) on a review and updating of the 2002 Philippine National Oil Contingency Plan should clear the way to the creation and operation of a Strategic Petroleum Reserve (SPR) Program. According to the DOE on its web site, the MOA was an offshoot of the DOE’s tie-up with Japan’s Ministry of Economy, Trade and Industry (METI)

and JOGMEC on updating the 2002 METI study on the “Master Plan for the Development of Stockpiling for the Philippines.” The MOA seeks, among others, to gather data on the domestic supply of, and demand for, fuel products in the past five years; projected demand for the next 20 years; the status of state-run and privately owned storage facilities for crude oil and finished petroleum products; and a review of existing polices on supply for normal demand and for emergency situations resulting from any international or local supply disruption. For Villafuerte, the government should study thoroughly what method of oil stockpiling would be best for the country, the logistical requirements involved, and whether crude oil or petroleum products should be stored. Jovee Marie N. Dela Cruz

News BusinessMirror

www.businessmirror.com.ph

Thursday, July 1, 2021 A11

‘Prevention is better than cure,’ solons remind DOH By Jovee Marie N. Dela Cruz @joveemarie

WO doctor-lawmakers urged the Department of Health (DOH) to adjust its policy on the deployment of vaccines, saying a “shotgun therapy” on vaccines is a wrong approach in addressing the spread of Covid-19. Quezon Rep. Angelina Tan and Iloilo Rep. Janette Garin, who are former medical practitioners before shifting to politics, asked the DOH to be proactive and not reactive in its vaccine distribution to save more lives amid the pandemic. According to Tan, it seems that the surge in cases in some provinces and cities is the main focus of the DOH in the distribution of vaccines. “I think the DOH should adjust its

policy in the deployment of coronavirus vaccines to ensure a more effective battle against the pandemic. Vaccines should be distributed with or without surge in Covid-19 cases because the main objective is to control the infections,” she said. “We need time [after the vaccination] for the protection from the vaccine to develop. The surge in cases will not go down because [after vaccination]…they [the recipients] need time [two weeks] to have full immunity after getting their second dose,” she added. Meanwhile, the lawmaker lauded the Duterte administration for committing to fast-track vaccine distribution in the provinces as more local officials have been requesting the national government to deploy more vaccines to the provinces following

the surge in Visayas and Mindanao. The Palace has already appealed to local governments outside Metro Manila “for a little more patience,” saying once supplies arrive, the vaccines will be distributed to the provinces immediately. “We are one with our government to ensure the successful fight against the pandemic. But I appeal to modify the DOH’s policy in the distribution of vaccines to make the campaign more effective,” Tan said. For her part, Garin also reminded the DOH that prevention is still better than cure. “We have heard of this time and time again because the statement is true especially in public health,” she said. “We have been patient when NCR [National Capital Region] was priori-

LP-led alliance eyed for Leni’s ’22 presidential aspiration, Drilon says By Butch Fernandez @butchfBM

HE opposition Liberal Party is leaving the door open to forging a multi-party alliance in preparation for the upcoming national elections in case Vice President Leni Robredo eventually agrees to join the upcoming presidential derby. “If VP Robredo decides to run for president, the convention will be a formality because there is a consensus that the VP should be our presidential candidate,” Senate Minority Leader Franklin M. Drilon said.

DOTr scholarship program benefits 17,284 PUV drivers By Lorenz S. Marasigan @lorenzmarasigan

HE Department of Transportation (DOTr) reported on Wednesday that 17,284 public utility vehicle (PUV) drivers and operators have undergone the P450million Tsuper Iskolar Program of the government. A project under the Public Utility Vehicle Modernization Program (PUVMP), the Tsuper Iskolar Program provides drivers, operators and their relatives the opportunity to avail of free training, skills assessment, and financial support while enrolled at the Technical Education and Skills Development Authority (Tesda). “We are happy that many drivers, operators, and their relatives have graduated under the Tsuper Iskolar Program. This program is a big help for our drivers and operators, who can now improve their service or add new means to make a living during the pandemic,” Transportation Secretary Arthur P. Tugade said. To date, a total of 20,588 beneficiaries have availed of the scholarship. Initially, the program was allotted P350 million for its initial implementation. This year, the agency is allotting an additional P100 million to accommodate 4,000 more scholars. Under the Tsuper Iskolar program, drivers, operators and other transport workers can choose training and courses offered by Tesda such as driving, automotive repair, or construction. Drivers and operators may also pass on the scholarship to their children, siblings or other relatives. Each trainee is entitled to P350 per day for their food and transportation expenses while undergoing the 30 to 35-day course. Aside from those endorsed by the transportation department’s line agencies, Tesda also accepts walkin, online, barangay applicants, and those qualified from organized enrollment seminars or fairs.

Fielding questions at the Kapihan sa Manila Bay forum, Drilon also cited reports that the ruling PDP Laban is “being split into two factions” between its party president, Sen. Koko Pimentel and Sen. Emmanuel Pacquiao. “The [PDP Laban] party in power [that fielded President Duterte] is being split into two,” Drilon noted. “How this would affect the 2022 elections will be a matter that will be discussed in coffee shops and the media in the next several weeks.” Saying he expects Pacquiao “would be removed as party president,” Drilon said that “the signal

is that the President told Secretary Alfonso Cusi to go ahead and convene the party in Cebu.” Still, the Senate Minority Leader expects this “will not harm the opposition,” noting that if the administration party is divided, given all the resources, given the troll farms, given the resources that they have, certainly a split will help the opposition.” At the same time, Drilon left the door of the LP open for Pacquiao, saying “the increase in the membership of the LP, or any political party for that matter, is a natural consequence of an election.”

Health dept ‘reorients’ vaccinators after gaffes; 4,509 addl cases logged By Claudeth Mocon-Ciriaco @claudethmc3

WARE of the rising number of viral videos about recipients who may have failed to receive the proper dose of Covid-19 vaccine in some vaccination centers, the Department of Health (DOH) has assured that the National Covid-19 Vaccine Operation Cluster has conducted a “reorientation” on the Covid-19 inoculation administration protocols to regional and local vaccination teams in the country. “Patuloy po nating binabantayan at tinitingnan ang mga reports ng mga indibidwal na hindi nakakuha ng dose ng bakuna ng maayos. Ang hiling po namin ay tayo po ay maging mas maunawain sa ating mga [We continue to look into these reports and reach out to the said recipients and are given immediate assistance. We are asking the public to be more understanding of our] health-care workers, let’s not crucify them. Tayo pong lahat ay magtulungan upang mas maisaayos pa ang ating vaccination protocols [Let us help each other to improve our vaccination protocols],”said Undersecretary for Health Maria Rosario Vergeire. The DOH also reminded vaccinators to exercise due diligence in the vaccination process—take extra care and attention during the inoculation process. Likewise, the DOH, through the Centers for Health and Development (CHDs), is investigating incidents in coordination with local government units (LGUs) concerned. To avoid more incidents of vaccinators failing to administer the proper dose, Vergeire suggested to

LGUs to deck vaccinators every 8 hours to minimize fatigue and ensure quality of service and have a vaccinator aide to assist and lessen the work of the vaccinator. In the end, the DOH urged the public to be proactive in making sure to get the jab. “While the vaccination is a whole of government approach, everyone should work together to ensure that the country achieves its end goal to protect all Filipinos,” the DOH official added.

Covid cases

AS of 4 p.m. of June 30, a total of 4,509 additional Covid-19 cases were logged, bringing the total number of infections in the country to 1,412,559. There were 5,839 recoveries and 105 deaths. Of the total number of infections, 3.4 percent (48,649) are active cases, 94.8 percent (1,339,248) have recovered, 1.75 percent (24,662) have died. Seven duplicates were removed from the total case count. Of these, 5 are recoveries. In addition, 1 case was found to have tested negative and has been removed from the total case count and has been reclassified as recovery. Moreover, 49 cases that were previously tagged as recoveries were reclassified as deaths after final validation. All laboratories were operational on June 28, 2021 but 6 were not able to submit their data to the Covid-19 Document Repository System. Based on data in the last 14 days, the 6 non-reporting labs contribute, on average, 1.6 percent of samples tested and 2.2 percent of positive individuals.

tized but the inequitable distribution and chaotic allocation never stops. Bakit kung saan mas mataas ang mga kaso, ay doon binubuhos ang mga bakuna? Are the number of confirmed cases really reliable as a parameter? How many are not tested? How many are not declared? How many do not even know they have it?” Garin asked. Garin also noted that people needs at least one month after the second dose to have their full immunity, which “is roughly 2 to 15 months after the initial dose, depending on the vaccine given.” Storing second doses because implementors are blind on when and how many are coming on subsequent weeks result to missed opportunities of protection,” she added. Garin, a former health secre-

tary, also said equitable distribution of vaccine supply should also be implemented. “Why do we vaccinate? To prevent deaths, reduce ICU utilization, reduce hospitalization and reduce transmission,” Garin added. The government has identified economic hubs Metro Manila, Bulacan, Batangas, Cavite, Laguna,

DTI chief Lopez: Funds for tourism loans intact despite Bayanihan 2 expiry By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

UNDS for the tourism sector under the Bayanihan 2 will remain available despite the law’s expiry on June 30. In a Viber message to the BusinessMirror, Trade Secretary Ramon M. Lopez said the P6-billion fund allocated under Bayanihan 2 for lending to the micro, small and medium enterprises (MSMEs) in tourism “will not revert [to the National Treasury]. It was put in the Small Business Corporation [SB Corp.] as equity.” Tourism Secretary Bernadette Romulo Puyat added, the capital infusion of SB Corp. was “already long overdue so DBM [Department of Budget and Management] used Bayanihan 2 as the opportunity to do so. So the funds for lending to tourism MSMEs won’t expire.” SB Corp. is a lending institution under the Department of Trade and Industry specifically targeting MSMEs. As of June 25, it has approved 433 loan applications corresponding to P185.6 million in loans to tourism enterprises, under its CARES for Travel program. Of the total approved loans, some P141.98 million has so far been released to 357 tourism MSMEs. The approved loans under CARES for Travel are just 3 percent of the total available funds for tourism MSMEs.

‘Times are hard’

THE poor availment of the lending window worried Romulo Puyat, such that she endorsed to Lopez/SB Corp the requests of tourism groups for easier terms on said loans. “We gave all their requests to SB Corp. and they agreed. For one, the grace period now on the loans has been extended to two years,” from the previous term of six months to a year. Also, tourism MSMEs with existing loans under the CARES for Travel program may apply for additional loans provided they don’t exceed the maximum loan amounts in their respective categories, and their financial statements filed with the Bureau of Internal Revenue supports a higher loan amount. (See, “SBCorp relaxes terms on tourism loans due to poor availment,” in the BusinessMirror, June 11, 2021.) But the DOT chief acknowledges that many tourism companies are also hesitant to borrow “because times are hard.” According to the first quarter Business Expectations Survey of the Bangko Sentral ng Pilipinas (BSP), companies continue to be wary of their financial conditions in the first quarter, as “the financial conditions index improved albeit remaining in the negative territory at -32.9 percent for Q1 2021 from -43.4 percent in the previous quarter.” The companies also felt constrained in their access to credit, “as the credit access index remained negative at -7.5 percent for Q1 2021, although improving from -12.2 percent in Q4 2020. The negative index means that respondents who reported difficulties in accessing credit continued to outnumber those that said otherwise.”

Pampanga, Rizal, Metro Cebu and Metro Davao as priority vaccination areas. Also, with the increasing number of infections in other areas, 10 cities have been added to the list of priorities. These are Baguio, Tuguegarao, Naga, Legazpi, Bacolod, Iloilo, Dumaguete, Cagayan de Oro, Zamboanga and General Santos.

A12 Thursday, July 1, 2021

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Thursday, July 1, 2021 A13

A14 Thursday, July 1, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Saving the ugly Pinoy from himself

he Ugly Indian is not what you think it is. TUI is an anonymous group of volunteers who clean and beautify filthy Indian streets and other ugly spots. Their Facebook page says The Ugly Indian “is an idea. It’s an attitude that says that all of us are ugly Indians and only we can save us from ourselves.” Volunteers can join by sending e-mail to The Ugly Indian or by registering one’s name and e-mail address on TUI’s official Facebook page. Their videos show inspiring transformations. For example, their #Clean100Campaign showed how they transformed 100 filthy, chronic, perennial #GarbageSpots across 26 constituencies in India in 45 days through team work by concerned volunteers. The Metro Manila Council can take a page from the TUI’s playbook as they discuss what to do with individuals caught dumping garbage in Metro Manila’s waterways. Metro Manila Commission and Metropolitan Manila Development Authority (MMDA) Chairman Benjamin “Benhur” Abalos Jr. said “harmonizing the ordinances” against those who keep throwing trash into waterways is one of the topics being discussed by the MMC members, most of them NCR mayors. MMC’s plan is to penalize individuals caught dumping garbage in the Pasig River or in other waterways in the National Capital Region. “We will make a uniform ordinance to mete out sanctions or conduct community service for those who recklessly throw garbage,” Abalos said. Abalos said a total of 32 truckloads of trash are collected daily from all 57 pumping stations in Metro Manila. “As we expect the volume of trash to increase because of the rains and inclement weather, we also plan to gradually install trash traps on all waterways such as canals and esteros to lessen the effect of flooding in Metro Manila,” he said. The Philippines has a good solid waste management law. RA 9003 or the Ecological Solid Waste Management Act of 2000 has provisions for solid waste reduction and avoidance through recycling, composting, and other methods before disposal in the appropriate facilities. The law also created the National Solid Waste Management Commission, headed by the Department of Environment and Natural Resources. The NSWMC also includes the heads of 13 other government offices and three representatives from the private sector. How come that almost nothing has been done in 21 years after the enactment of Republic Act 9003? MMC’s plan to penalize individuals caught dumping garbage in Metro Manila waterways is a good idea. However, authorities cannot fine someone unless they actually see him illegally dumping waste, and it is nearly impossible to monitor every nook and cranny of the metropolis. Instead of thinking penalties for illegal dumping of garbage, the MMC may want to chance tack and involve the community in solving our trash problem. The ideal way to handle this problem is for all of us to take responsibility and try our best to properly dispose waste. But if we are required not to dump waste, local governments must provide efficient garbage collection services. Here’s the catch: There are many areas in Metro Manila where garbage trucks can’t go. About 21 percent of families in Metro Manila are informal settlers. Of those families, 13 percent or approximately 75,000 families live in areas considered unsafe or hazardous—along rivers and waterways. The MMC knows where these areas are, and we are sure they are the reasons why MMC is trying to “harmonize the ordinances” against those who keep throwing garbage in waterways. A fundamental change in approach is needed. For example, what if MMC officials try to put themselves in the shacks of these 75,000 families? They may find out that the absence of appropriate local waste services in these areas is the main reason behind illegal dumping. So, why not involve the community in the campaign against illegal dumping of garbage? The challenge is how to harness the potential of these human resources. In the time of the pandemic, why not create something like an Emergency Employment for the Environment solely for informal settlers. They get paid for helping MMC clean Metro Manila’s waterways. The MMC can also work with the barangays, and invite community members to volunteer and do things like what The Ugly Indian is doing. Many Filipinos want to do good, either to the planet or to society at large. Let’s involve them in this worthwhile campaign.

Since 2005

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

Online Editor Creative Director Chief Photographer Chairman of the Board President Advertising Sales Manager Group Circulation Manager

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

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

www.businessmirror.com.ph

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

Might is ‘right’ John Mangun

OUTSIDE THE BOX

T is a good thing that the islands—artificial and otherwise—in the South China/West Philippine Sea are basically “uninhabited.” Run through some definitions with me. A territory is “an area of land under the jurisdiction of a ruler.” Then again, all “territories” started as an empty piece of land that was unoccupied. When a family, clan, or tribe moved in, presumably with some sort of leader in charge, then you progress to “nation.”

Nation: “A body of people united by common descent, history, culture, or language, inhabiting a particular territory.” It is a small jump to “country,” “a nation with its own government, occupying a particular territory.” It was not that long ago that most of the world was “unoccupied territory.” Thitu Island, or Pag-asa Island, is a good example of how it all evolves. There are historical records of the island having been inhabited at various times in history by fishermen from Vietnam and China. From 1930, the colonial government in French Indochina sent troops to Thitu Island

and in 1933, the French Governor decided to annex the Spratlys to Bà Ria Province. During World War II, both French Indochina and Imperial Japanese troops moved in. The Republic of Vietnam Navy put a sovereignty stele on Thitu Island in 1963. There were no permanent settlements until May 1956 when Filipino Tomas Cloma claimed part of the Spratlys as his own and called it “Free Territory of Freedomland.” They had land, people, a government, and a flag. In October 1956, two ships of the Republic of China Navy (Taiwan), forced Cloma to recognize that

Freedomland was Chinese territory and to leave or die. He left. Philippine President Marcos had Cloma arrested for “impersonating a military officer,” while wearing a uniform of the Freedomland Navy. In December 1974, Tomas Cloma was arrested again and forced to sign a document conveying to the Philippines whatever rights he might have had in the “Free Territory of Freedomland” for one peso. Marcos issued a Presidential Decree in 1978 to include the majority of the Spratly Islands as being Philippine territory. Pag-asa Island qualifies by virtually every definition as part of Philippine sovereign territory, like Siargao Island, even though it is 480 kilometers from Puerto Princesa. However, it could just as easily and legally be Đào Thi Tú (Vietnamese) or Zhōngyè Dăo (Mandarin Chinese) had an adventurer from Vietnam or Taiwan, like Cloma, set up on the island. Nothing in history is uniquely Filipino about the island except Filemon Cloma and his brother Tomas. President Elpidio Quirino in 1950 said that “as long as China [ROC] held the Spratlys, the Philippines would not press its own claim.” The Crimean Peninsula was first an ancient Greek colony. Later the

Persians, followed by the Romans, took over. In the 9th century, Byzantium established the Theme of Cherson. In succession, the Mongols, the Ottoman Empire, the Russian Empire in 1783, the Russian Soviet Federative Socialist Republic in 1921, and the Soviet Union all claimed and held Crimea. The Presidium of the Supreme Soviet of the USSR issued a decree transferring the Crimean region to Ukraine in 1954. A 2014 referendum on joining Crimea with Russia was supported by a 96.7 percent of voters but was denounced as illegitimate with the UN approving a resolution declaring the vote illegal and invalid. But, so what. Marcos decided by Presidential Decree that Pag-asa Island was part of the Philippines. Putin decided by a people’s referendum that Crimea is part of Russia and he backs it up with his military. Eventually, although everyone hopes that it will not happen, the claims in the South China/ West Philippine Sea will probably go military. That is the way the world has always worked.

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.

Now is the time for the Philippines to spend

By Dr. Byunghoon Nam

an the Philippines inject additional stimulus into the economy and still maintain fiscal sustainability? The answer is that the country needs to spend more to achieve strong economic recovery in the face of the coronavirus-led recession. And the good news is, it can afford to do so, and maintain debt sustainability at the same time. How can all these seemingly conflicting aims be achieved? Well let’s just start with the situation as it is. The Philippines is climbing slowly out of its recession in 2020, and any delayed economic recovery or prolonged slack in the economy will leave permanent scars. So what the country needs is sufficient fiscal stimulus to sustain a strong recovery to bring ross domestic product (GDP) growth back to pre-Covid levels and secure livelihoods. On to the second point on affordability. The Philippines still has a sizeable fiscal buffer, despite national debt-to-GDP rising to 54.6 percent in 2020 from 39.6 percent in 2019 due to the economic contraction and large fiscal spending to support the economy during the pandemic lockdown. The higher ratio remains substantially lower than the 70 percent threshold that the IMF sees as signaling potential debt stress events in its assessment of debt sustainability for emerging markets economies. Besides, the government will not

likely experience financing difficulties because domestic savings has increased sharply due to the collapse in private spending, and the central bank is committed to providing abundant liquidity through the purchase of government securities in the secondary market. External financing is also a viable option, as seen by the country’s low sovereign credit default swap spread and investment grade credit ratings. The debt profile of the Philippines is not as vulnerable to sudden shocks as some other emerging markets economies because of its low dependency on external financing (about 30 percent of total debt). This situation alleviates vulnerabilities to liquidity risk arising from sudden shifts in the risk appetite of foreign investors. And, the country demonstrates a low share of national debt maturing within 12 months, making it less susceptible to rollover risk. Furthermore, the risk posed by contingent liabilities from publicprivate partnership projects, domestic credit accumulation, and external

According to AMRO’s debt projection simulation that takes into account the size and persistence of fiscal multipliers under various scenarios, we consistently find that an increase in expenditure would raise national debt-to-GDP ratio for the first two to three years, with the ratio falling from the third or fourth year due to higher growth, so any spending would have only a short-term negative effect on debt-to-GDP.

debt is well managed. How about debt sustainability if the country needs to spend much more now? More growth-friendly and supportive fiscal spending will promote a stronger economic recovery at the cost of rising national debt in the short-term. However, in the medium to long term, higher economic growth will raise fiscal revenue and augment the country’s ability to afford debt, eventually leading to a lower national debt-to-GDP ratio. It is noteworthy that many studies have found the effects of fiscal policy on economic growth (the so called fiscal multipliers) are significantly higher during economic downturns than during expansions or in normal economic circumstances. A stimulus is more effective during a downturn because the increased government spending supplements private de-

mand and stimulates consumption and investment. In addition, the impact of fiscal stimulus is magnified when interest rates remain low for a sufficiently long period because economic agents benefit from low borrowing costs. Furthermore, fiscal stimulus shows more persistent effects on the economy during recessions and under accommodative monetary policy. Consequently, given the considerable slack in the economy and current low interest rates, the impact of fiscal stimulus on the Philippine economy will be more powerful than ever. According to AMRO’s debt projection simulation that takes into account the size and persistence of fiscal multipliers under various scenarios, we consistently find that an increase in expenditure would raise national debt-to-GDP ratio for the first two to three years, with the ratio falling from the third or fourth year due to higher growth, so any spending would have only a shortterm negative effect on debt-to-GDP. The Philippine government has in the past maintained a prudent fiscal policy; building up a sizeable fiscal buffer before the pandemic began. Now is the time to leverage on the fiscal policy space to achieve a robust recovery, and an inclusive and sustainable growth.

Dr. Byunghoon Nam is a Senior Economist with the ASEAN+3 Macroeconomic Research Office.

Opinion BusinessMirror

www.businessmirror.com.ph

Economic crisis, severe shortages make Lebanon ‘unlivable’

My friendship with PNoy Val A. Villanueva

Businesswise

By Bassem Mroue | Associated Press

EIRUT—Ibrahim Arab waits in line several hours a day in the hot summer sun to buy gas for his taxi. When he’s not working, the 37-year-old father of two drives from one Beirut pharmacy to another, looking for baby formula for his seven-month-old son—any he can find—even though the infant got severe diarrhea and vomiting from an unfamiliar brand. He worries what would happen if his children got really sick. Once among the best in the region, Lebanon’s hospitals are struggling amid the country’s economic and financial crisis that has led to daily power outages that last for hours, shortages of diesel fuel for backup generators, and a lack of medical equipment and drugs. After 20 months of suffering with no end in sight, a new reality is setting in for most of Lebanon’s 5 million people: Days filled with severe shortages—from spare parts for cars to medicine, fuel and other basic goods in the import-dependent country. “My life was already difficult, and now the gasoline crisis only made things worse,” Arab said on a recent day. To survive, he works a second job at a Beirut grocery store, but his monthly income in Lebanese pounds has lost 95 percemt of its purchasing power. The crisis, which began in late 2019, is rooted in decades of corruption and mismanagement by a post-civil war political class that has accumulated debt and done little to encourage local industries, forcing the country to rely on imports for almost everything. The Lebanese pound has nosedived, banks have clamped down on withdrawals and transfers, and hyperinflation has flared. The liquidity crunch is crippling the government’s ability to provide fuel, electricity and basic services. A shortage of dollars is gutting imports of medical supplies and energy. The fuel shortage has especially raised fears that the country could become paralyzed. Even private generators, used by the Lebanese for decades, have to be switched off for hours to conserve diesel. “We are really in hell,” tweeted Firas Abiad, director general of Rafik Hariri University Hospital, which leads the country’s coronavirus fight. Despite a heat wave, the hospital decided Monday to turn off the air conditioning, except in medical departments. Electricity cuts have affected Internet connections in various cities, while bakeries warn they might have to close due to fuel shortages. The situation has become critical in recent weeks, with scuffles and shootings at gas pumps, including one in the northern city of Tripoli, where the son of one station’s owner was killed. Many Lebanese decry their leaders’ inability or unwillingness to work together to resolve the crisis. The country has been without a working government since Prime Minister Hassan Diab’s Cabinet resigned days after the massive explosion at Beirut’s port on August 4, 2020, that killed 211 people and injured more than 6,000. The catastrophic blast was caused by nearly 3,000 tons of highly explosive ammonium nitrate that had been improperly stored there for years. Residents expect the economy to get even worse, so they look for ways to adapt and cope. To avoid waiting for hours, some pay people to fill their car for them. Others take their laptops and work from inside their vehicles in the lines that stretch for blocks and are known as “the queues of humiliation.” Many rely on relatives and friends abroad to send medicine

Many fear things will only get worse in the coming months, with the central bank’s reserves dropping and no solution in sight. Lawmakers are working on a ration card system that would give about 500,000 poor families between $93 and $137 a month. If approved, it would lead to even smaller subsidies and skyrocketing prices. and baby formula. Those who can afford it fly to nearby countries for a day or two to stock up for months. A man who works in solar energy said business is booming, with people fed up with decades of government promises to fix Lebanon’s power grid. Last week, Diab approved financing energy imports at a rate higher than the official exchange rate, effectively reducing fuel subsidies amid the worsening shortages. The move that took effect Tuesday is expected to start easing the crisis temporarily, although prices shot up 35 percent. Some people have been hoarding fuel out of fear that prices will nearly double, and this has added to its scarcity. Such an increase in prices will put the cost of fuel out of reach of many in a country where more than half the population lives in poverty. Others smuggle it to neighboring Syria, which has its own fuel crisis and where the price of gasoline is five times higher than in Lebanon. But that also adds to the shortage in Lebanon. The crisis has led angry residents across the country to block roads in protest. They seized several tanker trucks in northern Lebanon and distributed gasoline for free to passersby. Another group confiscated a truck carrying powdered milk and also distributed its contents. “Our business has become a job of mass destruction,” said Ahed Makarem, 24, who works at a gas station in the coastal village of Damour, south of Beirut. As he spoke, a line of hundreds of cars moved slowly along the highway. Dozens of workers activated the station’s 12 pumps to fill vehicles and scooters. Motorists were limited to 20 liters (about 5 1/4 gallons). Makarem said his 13-hour shift starts at 6 a.m. and he hardly has time to eat or sit. Fistfights have broken out in recent weeks as some people try to cut in line, he said, adding that when the station closes at 7 p.m., police sometimes have to intervene to turn away angry customers who waited in vain. Many fear things will only get worse in the coming months, with the central bank’s reserves dropping and no solution in sight. Lawmakers are working on a ration card system that would give about 500,000 poor families between $93 and $137 a month. If approved, it would lead to even smaller subsidies and skyrocketing prices. Arab, the taxi driver, is bracing for when the temporary solutions fall away and the crisis worsens. He recently had to fix the brakes on his car, and his engine needed a spare part. That cost him more than twice the minimum monthly wage in Lebanon. “I wish I had the opportunity to leave. This country is unlivable,” Arab said.

met PNoy—the late former President Benigno Simeon Aquino III—during the tumultuous years following his father’s death on August 21, 1983. PNoy was then working for Mondragon Industries Philippines Inc. as an assistant retail sales supervisor and assistant promotions manager for the Nike brand, while I was the assistant marketing and PR director of the newly minted Wendy’s chain of fast-food restaurants under Wenphil Corp. which was headed by Jose T. Pardo, current Chair of the Philippine Stock Exchange (PSE).

It was my second full-time job after college graduation, and it was one of his first jobs. Our respective companies at that time were facing an unstable market due to the economic fallout from the assassination of PNoy’s father Ninoy Aquino. The Philippine economy was in tatters, and we needed some novel marketing approach to survive. It was Mr. Pardo, a close friend of Mondragon Chief and former Tourism Secretary Jose Antonio Gonzalez, who informed me that PNoy was interested in forging marketing tie-ups between Nike and Wendy’s. He said PNoy would call me to set up a feasibility meeting. PNoy and I met for coffee at the Manila Garden Hotel (now Dusit Thani Hotel) and drew up marketing promotions, which we thought would benefit both our companies. It’s not important now what those marketing promotions were, but one involved giving discounts to customers who would purchase Wendy’s and Nike’s products. Our first meeting was businesslike, but it spawned a series of meetings over coffee and merienda that bonded us as friends. PNoy was passionate about music, and so was I. It started when he asked me to pick him up because he was too lazy to drive. He instantly noticed that my car’s music system had been customized, and expressed amazement at how well my audio gears were configured to produce wonderful music. “Brod, may bozza nova ka ba dyan [Brother, do you have any bozza nova music]? I opened my car’s glove compartment and asked him to choose from the compact discs [CDs] that I kept there.

From then on, every afternoon that both of us were free, I would pick him up in my car, and we would spend the hours listening to CD music: sometimes driving around, or most of the time, just parked in Park Square 1 in Makati just listening to music. Throughout our years of friendship, we never discussed politics. I guess I—and my car’s audio gear—had provided him much-needed respite, and in turn he honored me with his loyal companionship. I resigned from Wendy’s to start my journalism career, and he went on to pursue a life in politics. But through the years, we remained in touch. The last time we met faceto-face was in November 2013 when he called to consult me about an invitation from the organizers of the yearly November Hi-Fi Show to grace the opening day of a two-day event at Dusit Hotel. He was then the President of the Philippines. He was ecstatic to learn that I was one of the exhibitors, and said he would try to visit my room. He did, and stayed for a few hours of good camaraderie with the audio community and fond reminiscing of our music-tripping days. With us huddled in that exhibit room, with audiophile music swirling around us, he wasn’t the president: he was PNoy, the music lover. He was all smiles throughout his visit, and I could tell he had a very good time. After that Hi-Fi Show reunion, PNoy would call from time to time just to ask me how I was. In 2017, for the first time in our then over30 years of friendship, we talked about politics. I listened to his frustrations about where our country was heading.

Thursday, July 1, 2021 A15

Farewell, dear friend! Enjoy the heavenly music you must be listening to now. Till we meet again, over more coffee and wonderful music!

FCF Minerals’ good mining practices lift town from poverty

President Duterte’s rescinding of a nine-year ban on new mining projects, under Executive Order 130, was met with applause by an industry under siege by ultra-environmentalists who do not distinguish good mining from bad. The mining industry went into a downhill drive during the time of the late Gina Lopez whom the President chose to be the country’s environment chief. The Chamber of Mines of the Philippines Vice President for Communications Rocky Dimaculangan hails the ban rescinding because it signified the removal of a “major roadblock to the huge potential of the Philippine mining industry to contribute to socio-economic growth,” and welcomes “the lifting of the moratorium on new mining projects—in place for nearly nine years—in this time of great national difficulty as a result of the Covid-19 pandemic.” With the mines now allowed to operate, the country can expect additional government revenues in the form of taxes and fees, royalty fees, and increase in export value, as well as employment opportunities for thousands of Filipinos, especially those in the rural areas. Dimaculangan says the industry’s positive impact on host communities can be clearly seen in regions around the country where mining has been allowed to flourish, such as in Caraga and MIMAROPA. This corner has been consistent in supporting responsible mining and echoes Dimaculangan’s belief that the lifting of this policy roadblock will undoubtedly help encourage both local and foreign investments into the country, especially since investor interest in the Philippines has declined starting 2010. Executive Order 130 will help bring the Philippines back on the investment map. A case in point is the contribution of British-based FCF Minerals Corp., which has emerged as one of Nueva Vizcaya’s top taxpayers. It remitted to the Municipal Local Government of Quezon a total of P42,640,501.66 as payment for Local Business Tax,

Mayor’s Permit and other Regulatory Fees for the first and second quarter of 2021. The remittance is just a small portion of FCF’s contribution to the national coffers. As part of its social responsibility, the company has been assisting townsfolk of Runruno, Quezon Province, in Nueva Vizcaya, to ride out the crippling effect of the pandemic. It has been in the thick of infrastructure development, livelihood projects and support, skills training, education and health programs, which include compensating elementary and high school teachers and daycare volunteers, and offering development assistance for access roads, hanging bridges, and the establishment of drug stores, community clinics and day-care centers, among others. For the year 2020, FCF also remitted a total of P350.6 million to the national and local governments. This effort of the company has been a great factor for the municipality to be recognized for their tax collection efficiency. Earlier this year, according to the data published by the Bureau of Local Government Finance, Municipal Environment and Natural Resources Quezon was ranked first among all MLGUs across the country in the Collection Efficiency of Locally Sourced Revenues for FY2019. Who would have thought that the once sleepy town of Runruno, Quezon, Nueva Vizcaya, would now be bustling economically? And it took the most derided industry to carry this town to progress. It was on January 31, 2011, during a provincial board meeting, when representatives of FCF Minerals Corp. assured Runruno town officials and townsfolk that the company’s Gold-Molybdenum project will bring them much-needed growth. Despite the many roadblocks it had to hurdle through the years, FCF delivered. Today, commerce in this once lethargic and quaint municipality couldn’t be busier. With improved infrastructure courtesy of FCF and the multiplier effect on business of its ongoing project, the town has risen from stupor. For comments and suggestions, e-mail me at mvala.v@gmail.com

Virus infections surging in Africa’s vulnerable rural areas

By Farai Mutsaka | Associated Press

VIMBA, Zimbabwe—For Pelagia Bvukura, who lives in a rural part of north-central Zimbabwe, Covid-19 had always been a “city disease,” affecting those in the capital, Harare, or other, distant big towns. “There was no virus for us. We only used to hear it was in Harare or other towns or when city people died and we buried them here,” she said recently, referring to the custom in Zimbabwe where those who move to the city often are buried at their family’s rural home. That is changing now. A new surge of the virus is finally penetrating Africa’s rural areas, where most of the continent’s people live, spreading to areas that once had been viewed as safe havens from infections that hit cities particularly hard. With facilities in the countryside ill-prepared to fight the coronavirus, residents like Bvukura worry that the next graves being dug could be for their neighbors—or even themselves. Her village of Zvimba, 110 kilometers (68 miles) from Harare, has yet to record a major spike in infections, but it sits in a province that is the current epicenter of the virus. “It is now on our doorsteps. It’s scary. We don’t know how to protect ourselves. We have never dealt with such a problem before,” she said. Like many here, she wasn’t wearing a mask and is yet to be vaccinated. Africa has recorded over 5.3 million cases and is experiencing the worst of a wave driven by more contagious and deadlier variants. The continent recorded a 39% increase

in new cases in the week from June 14-20, according to the World Health Organization. With homesteads spaced far apart, few visitors and rare public gatherings, rural areas appeared so insulated that they drew some people from cities to escape both infection and economic hardship. “It was a dangerous, false sense of security. Now a tragedy is unfolding,” said Dr. Johannes Marisa, president of the Medical and Dental Private Practitioners of Zimbabwe Association in Harare. The Delta variant that has devastated India has been detected in at least 14 African countries including Congo, Mozambique, Namibia, Uganda, South Africa and Zimbabwe, and not just in the cities. “We are starting to see an upward trend in the rural and marginalized areas,” said Edward Simiyu, Uganda country director of the charity group Mercy Corps, in a statement earlier in June. In Zimbabwe, three of the four districts under strict lockdown and declared as epicenters of the outbreak are in the predominantly rural Mashonaland West province, which recorded over half of the 801 cases reported last weekend. Other hot spots also are largely rural, a first for this country.

“We are going to see a lot of deaths, especially arising from rural areas. Covid-19 is now coming from the rural areas,” said Marisa, attributing the spike to “a high degree of complacency,” a lack of information and few vaccinations, with urban areas prioritized. The virus can also spread at funerals when city dwellers return to visit rural relatives. “I was at a funeral in a rural area recently and people were surprised to see me wearing a mask,” he said. Rural areas are ill equipped to deal with the surge, and urban health care facilities are under strain in treating an increasing number of people from the countryside. Zimbabwe’s major referral hospital, Parirenyatwa in Harare, is prioritizing beds for Covid-19 patients. “Parirenyatwa is almost full. These are not people from Harare. Health facilities in rural areas are miserable, so all those people are being referred to city hospitals,” Marisa said. In Mozambique’s remote Tete province, a hotbed of infections where the delta variant was recorded, President Filipe Nyusi expressed worry. “We don’t have many beds… We don’t have many health staff in Tete either,” Nyusi said. Because health care facilities in the countryside in places like Uganda are more poorly staffed than those in urban areas, “a penetration of Covid-19 infections in these rural and vulnerable regions is likely to be devastating, … risking more people slipping deeper into poverty, further worsening social inequities, divi-

sions, and conflict,” said Simiyu of Mercy Corps. Rural residents are finding it difficult to get vaccinated because of weak public health systems and vaccine distribution problems. Only 1 percent of Africa’s 1.3 billion people have been vaccinated, according to the WHO and the Africa Centers for Disease Control. The Zvimba Rural District hospital only had just a small number of coronavirus vaccines, reserved for second doses, its staff said. But even after the vaccine becomes available, “the ability of health systems to absorb those doses and get them distributed—particularly in rural communities—is the next huge problem on the horizon,” said Sean Granville-Ross, Africa regional director for Mercy Corps, in an interview with The Associated Press. “There’s a risk vaccines could sit spoiling in warehouses across African capitals if countries aren’t ready to hit the ground running with mass vaccination campaigns, including in the hardest-to-reach rural areas where health infrastructure is already weak, as is trust in public health systems,” Granville-Ross said. Those in rural areas who are desperate for the vaccines, including the elderly, live far from hospitals and clinics. Matrida Tendayi, who is 100 years old, said she is too frail to walk to the nearest clinic in Dema, a rural area about 50 kilometers (30 miles) from Harare, even if a vaccine was available. “I have been waiting and waiting,” she said. “But they are not coming.”

A16 Thursday, July 1, 2021

Think tank sees more job losses on mobility curbs

By Cai U. Ordinario

@caiordinario

OB losses could continue in the coming months due to mobility restrictions imposed in May, according to a local think tank. The latest Market Call report stated that combined with the 2.1 million jobs lost in April, the continuation of job losses could crimp consumer spending and threaten economic growth in the second quarter. First Metro Investment Corporation-University of Asia and the Pacific (FMIC-UA&P) Capital Markets Research noted that consumption spending accounts for 70 percent of the country’s GDP. “Q2 GDP may dampen growing optimism.” “While some economic indicators (e.g., manufacturing, exports, capital goods imports) point to a possible recovery (or at least an

improvement from the Q1’s level), weak April employment data threaten Q2’s economic performance (through consumption-induced effects),” FMIC-UA&P Capital Markets Research said. “We may see another round of job losses (albeit lower than what was recorded in April) to reflect the mobility restrictions imposed in May onwards,” it added. The think tank expressed concern that the results of the April 2021 round of the Labor Force Survey (LFS) showed the job losses nearly offset the 2.18 million jobs created in March 2021. It also noted that all industry sec-

tors reported job losses and showed that the highest decline reached 917,000 jobs lost in the entire industry sector. The agriculture sector shed as much as 570,000 jobs. “Labor data in April failed to uplift spirits as it showed lower labor force print and higher unemployment rate vis-à-vis the preceding month,” FMIC-UA&P Capital Markets Research said. However, the local think tank expressed hope that the government infrastructure spending can still boost economic growth. FMIC-UA&P Capital Markets Research said it expects infrastructure spending to continue increasing given “adequate fiscal space.” This after the Bureau of Internal Revenue (BIR) reported a gain in collections amounting to P219 billion, which represented more than three times last year’s P90.5 billion.

Infra projects

In a recent briefing, Socioeconomic Planning Secretary Karl Kendrick T. Chua said over 3,000 big and small infrastructure projects may be completed by next year. Chua said 314 of the projects

have already been completed as of June 2019 and 2,800 are set to be completed by 2022. These projects are part of the medium-term Public Investment Program (PIP) of the administration. “With exports gaining traction as the global economy recovers and major developed economies open up, coupled with easing of local mobility restrictions, we see a double-digit increase in exports for the full year 2021,” FMIC-UA&P Capital Markets Research said. In a recent televised briefing, Trade and Industry Secretary Ramon M. Lopez said the Philippine economy will return to growth path this year due to the projected recovery of exports and the continued expansion of the Business Process Outsourcing (BPO) sector. Lopez said exports may post a 7-percent growth this year while the BPO sector is looking at a growth of 5 percent this year. He added the recent growth of the country’s exports and BPO sector are not only due to base effects. He said recent policies on allowing 100 percent operation in these sectors also contributed to the growth.

DOLLAR LOANS SLID FURTHER IN Q1–BSP By Bianca Cuaresma @BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) reported on Wednesday that dollar loans extended by local banks’ Foreign Currency Deposit Units (FCDU) continued to decline in the first three months of the year, reflecting low lending appetite and timid economic activity during the period. According to data from the BSP, FCDU loans hit $16.3 billion in the first quarter of the year, down 1.9 percent from the $16.7 billion level in end-December of last year as principal repayments exceeded disbursements. Compared to the first quarter of 2020, meanwhile, outstanding FCDU loans decreased by $1.9 billion or by 10.6 percent from the endMarch 2020 level of $18.3 billion. The decline in FCDU loans was attributed to the continued contraction of the economy during the quarter, which translated to lower working capital requirements among borrowers and the lender banks’ continued lower appetite to lend. The BSP said lower dollar loans could have also indicated availability of other sources of funding for firms. The BSP also reported that the maturity profile of the FCDU loan portfolio remained predominantly medium- to long-term debt,

or those payable over a term of more than one year. These loans represented 79.1 percent of total, slightly lower than the 79.5 percent level as of endMarch 2020. Of the total 67.7 percent outstanding loans to residents, 60.2 percent went to the following resident industries: power generation companies (27.1 percent); merchandise and service exporters (21.7 percent); and public utility firms (11.4 percent). The BSP also reported that gross disbursements in the first quarter of 2021 reached $15.8 billion and were 13.5 percent higher than the previous quarter’s figure. The increase, however, was attributed only to funding requirements of an affiliate of one branch of a foreign bank. Loan repayments were also higher by 10.6 percent, thus, resulting in overall net repayments. FCDU deposit liabilities stood at $44.5 billion as of end-March 2021, lower by 1.2 percent from the end-December 2020 level of $45.1 billion. “The quarter-on-quarter decline in FCDU deposits may be attributed to the sustained strength of the peso,” the BSP said. About 97.2 percent of these deposits are owned by residents. This essentially constitutes an additional buffer to the country’s gross international reserves, the BSP said.

Solons ask Executive for full accounting of Bayanihan 1, 2 By Jovee Marie N. dela Cruz @joveemarie

AWMAKERS on Wednesday demanded a full accounting of the funds for Bayanihan 1 and Bayanihan 2. House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate said funds for Bayanihan 2 expired on June 30, with billions still to be obligated. Based on Department of Budget and Management data, Zarate said the Bayanihan 1 and 2 fund releases and disbursements had a remaining amount of P217.2 billion as of April 15, 2021. “Just the other day the DBM said that only P9 billion remains to be obligated under Bayanihan 2 but with the government’s low capacity to disburse and obligate, and a persistent showing of such absorptive capacity, we want to know how an amount of more than P200 billion was used in less than three months. The people must know where these public funds go,” said the progressive solon. “Add to this the fact that there is a National Budget Circular 586 trying to collect the expected savings from the FY 2020 GAA from agencies,” Zarate added. The lawmaker said NBC 586 covers released allotments under the FY 2020 GAA which remain unobligated until May 15, 2021, but not expressly earmarked for the implementation of programs/ activities/projects addressing the Covid-19 pandemic. “Without proper accounting, we cannot blame the people for thinking that this administration is trying to create an enormous war chest in the run-up for the 2022 elections,” said Zarate. House Committee on Ways and Means Chairman Joey Sarte Salceda has also expressed alarm over the expiration of the Bayanihan to Recover as One or the Bayanihan 2, with no alternatives in sight amid the increasing Covid-19

cases in the provinces. According to Salceda, contracts for contact tracers and human resources for health under Bayanihan 2 were also set to expire June 30. “Congress opens on July 26. That’s 26 days without an alternative, a terrifying prospect considering that Covid-19 is raging in the provinces,” he said. Salceda said the language under Bayanihan 2 or RA 11519 explicitly dictates that the funds shall be available for “release, obligation, and disbursement” until June 30, 2021.

Ineptness

For his part, Albay Rep. Edcel C. Lagman said the paucity in appropriation is aggravated by ineptness in fund utilization for the pandemic response. “This is a serious indictment of the failure of the Duterte administration to rescue Filipinos from health complications and bail out the economy consequent to the onslaught of Covid-19,” he added. “This ineffectiveness accounts for the projection that the Philippines will be the last to recover in late 2022 from the pandemic-induced recession among the countries in the Asia-Pacific Region which have outpaced the country in the amount and alacrity in responding to the pandemic,” Lagman added. As it is, Lagman reminded his peers, the funding of P165.5 billion in Bayanihan 2 was already considered inadequate and lower than originally proposed by the House of Representatives. The validity of Bayanihan 2 was originally fixed from September 11, 2020 to December 19, 2020, and its effectivity was subsequently extended to June 30, 2021 or a total validity of more than nine months. Before it went on sine die adjourment, the House approved on second reading House Bill 9538, which seeks to further extend the release, obligation and disbursement of funds of Bayanihan 2 until the end of 2021.

ONIONS AS ‘ICE CREAM’ Manila International Container Port (MICP), through Customs Intelligence and Investigation Service (CIIS) Chief Alvin Enciso, Chief XIP MICP Aris Cascalla, and Romeo Allan Rosales (MICP District Collector) seize 10 million worth of red onions from China hidden in a shipment of ice cream. BOC MICP said it remains committed to curb smuggling of unsafe food items under the direction of Customs Commissioner Rey Leonardo B. Guerrero. ROY DOMINGO

DOJ-led TF has yet to get complaints on Covid funds By Joel R. San Juan

@jrsanjuan1573

HE Department of Justice (DOJ)-led task force against corruption (TFAC) has not received any complaint even from Senator Manny Pacquiao who accused the government, particularly the Department of Health (DOH), of irregularities in handling resources for the Covid-19 pandemic response. Justice Secretary Menardo Guevarra said the task force’s midyear report submitted to the President on June 9, 2021 showed it had received at least 220 complaints of alleged corrupt activities in government, but none of them pertains to alleged mishandling in relation to the pandemic. Other complaints were directed

against several local government units (LGUs) followed by the Department of Public Works and Highways (DPWH). Guevarra noted that “many of the complaints were about anomalous transactions perpetrated jointly by these LGUs and district engineering offices,” he added. The TFAC also noted a large number of complaints against the Land Registration Authority (LRA), Department of Environment and Natural Resources (DENR), and the Bureau of Customs (BoC). There were also complaints against severa l Gover nmentOwned and -Controlled Corporation (GOCCs). “Excepts for complaints relating to Dengvaxia and PhilHealth, the TFAC has not received so far any complaints against the DOH, par-

ticularly in connection with antiCovid 19 pandemic expenditures,” Guevarra said.

Pacquiao cites DOH

Irked by Pacquiao’s previous statement alleging corruption in his administration, President Duterte challenged Paquiao to name these corrupt agencies or else he would campaign against him in the national elections, calling him a “liar” if he cannot substantiate his accusations. Pacquiao, president of the PDPLaban where Duterte is chairman, has been at loggerheads with a party faction led by Energy Secretary Alfonso Cusi. Late Tuesday, Pacquiao accepted Duterte’s challenge and publicly mentioned the DOH as the agency that should be investigated for its

spending. He said he will be ready with more details soon. Pacquiao said the DOH should be scrutinized for its purchase of rapid test kits, personal protective equipment (PPEs), facemasks and other vital supplies for pandemic response. The TFAC, which was created last year in a bid of the Duterte administration to address graft and corruption in the government, has so far endorsed 15 cases to the Office of the Ombudsman for further investigation; 15 other cases have been referred to the National Bureau of Investigation (NBI) for case build-up and possible criminal investigation. The rest were referred to other pertinent government agencies for the conduct of administrative investigation.

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, July 1, 2021

Cirtek stock rights offering gets green light from PSE By VG Cabuag

@villygc

aguna-based Cirtek Holdings Philippines Corp. on Wednesday said it secured the approval of the Philippine Stock Exchange Inc. (PSE) for the company’s stock rights offering (SRO) with bonus detachable warrants, which could yield P1.37 billion.

The company has set a final offer price of P5.50 per entitlement right and a final exercise price of P5.50 for the bonus detachable warrants. Cirtek said it intends to list some 249.44 million in common shares for the rights shares and 249.44 million in detachable warrants with 249.44 million in underlying common shares.

Investors holding common shares of Cirtek prior to July 2 will be entitled to subscribe to additional common shares of the company at a discounted price of P5.50. The company said it will give one entitlement right for every 1.68 common shares held. The entitlement rights shall

be subject to the Security and Exchange Commission’s approval of the company’s application for an increase in authorized capital stock. For every one entitlement right subscribed to, one bonus detachable warrant shall be issued free of charge to the investor and shall be issued as part of the subscription to the entitlement rights. Each bonus detachable warrant entitles the investor to the right to subscribe to one underlying common share of the company beginning on the 12th month until the 36th month from issue date at an exercise price of P5.50. The bonus detachable warrants shall be exercisable during business hours within the first two trading days of each month, the company said. The company said offer period will be from July 12 to 22. Listing on the PSE is tentatively set for August 16.

Cirtek said it expects to raise some P1.37 billion from the SRO. “Net proceeds will be used to primarily finance the working capital of Quintel USA Inc., Cirtek Electronics Corp. and Cirtek Advanced Technologies and Solutions Inc., as well as to refinance the existing debt/payout short-term obligations of Cirtek Electronics Corp.,” the company said. Abacus Capital and Investment Corp. and PNB Capital and Investment Corp will serve as the joint issue managers and lead underwriters for the SRO with bonus detachable warrants. Philippine National Bank - Trust Banking Group will serve as as the receiving and escrow Agent, and BDO Unibank, Inc. - Trust Banking Group as the stock transfer agent and warrants registrar. Cirtek share price closed on Wednesday at P6.18 apiece.

AUB: Low interest rates to lift AUM By Bianca Cuaresma @BcuaresmaBM

sia United Bank (AUB) has expressed confidence that the assets under management (AUM) of its trust business will post double-digit growth this year on the back of improved economic and investing conditions. AUB said it expects the AUM of its trust business to rise by 20 percent to P32 billion this year. AUB Senior Vice President and Head of Trust Andrew Chua said this expectation is attributed to last year’s surge in liquidity.

“With interest rates inching to all-time lows, more clients turned to unit investment trust funds (UITFs) to park their excess funds…. Investors will continue to flock to fixed income assets this year, as these provide a steady flow of income,” Chua said. In 2020, AUB posted a 12-percent increase in total AUM to P26.4 billion from the previous year’s P23.7 billion. AUB attributed the growth to the Bangko Sentral ng Pilipinas’ (BSP) loose monetary policy which enabled the bank to generate returns

higher than deposit rates through investments. As of June this year, the BSP’s total liquidity infusion in the country reached a total of P2.2 trillion. This amounted to 12.13 percent of the country’s full-year nominal GDP for 2020. Last year, the BSP reduced the country’s policy rate by a cumulative 200 basis points and cut reserve requirement ratios by 200 basis points for universal and commercial banks and non-bank financial institutions with quasi-banking licenses, as well

as by 100 basis points for thrift banks and rural/cooperative banks. Chua also said that while interest rate remains low, inflation is a threat to investor gains this year as it continues to trend above the government’s target range of 2 to 4 percent. “Despite the volatile nature of equities, we still believe that over the medium- to long-term horizon, they will still provide growth ranging from 8 percent to 10 percent. Mixing this with fixed income will definitely enhance and protect investors from inflation.”

Filinvest wants to cut emissions via cooling system SEC-Davao: Be wary of Ponzi scheme operator By Lenie Lectura @llectura

AVAO CITY—The Securities and Exchange Commission (SEC) office here has warned the public against another illegal investment scheme that promises huge returns. The SEC identified the operator of the scheme as JC Pro Global Trading. The agency said the entity did not have legal authority to solicit investments. The commission issued the warning on June 24. It said the entity was already engaged in investment-taking activities through its “compensation plan (complan).” Based on the group’s online posts, the SEC described the “complan” as requiring “an investment of P500 per account with a P50 income daily or P1,000 in 20 days. The investment can be between P500 and P100,000.” “Aside from the profits of the account owners, they are also offered a 50-percent direct commission from new accounts.” The SEC said JC Pro Global Trading’s scheme is an investment contract because it involves the offering and sale of securities to the public where their investors need not exert any effort other than to invest in the scheme to earn money. Based on reports it has gathered, the SEC said JC Pro Global Trading has a “system apparently designed to ‘take care of everything’ which includes trading, buying and selling of cryptocurrency which provides daily income and a guaranteed profit of at least 200 percent in 20 days or doubleyour-money in 20 days which provides a no-risk investment because profits are assured.” Manuel T. Cayon

ilinvest Land Inc. (FLI) said it will install district cooling system (DCS) in its other development projects in a bid to reduce energy consumption and carbon emissions. The property developer said Wednesday it will replicate the success of its DCS in Northgate Cyberzone in Filinvest City, Alabang. Its subsidiary Filinvest Clark Mimosa Inc. (FMCI) has drawn up plans with Philippine DCS Development Corp. (PDDC) to develop a DCS in its Filinvest Mimosa Plus Leisure City. PDDC is a joint venture between French-based multinational firm ENGIE and FLI and was formed in 2013 to develop and operate the Northgate Cyberzone DCS, the country’s largest DCS. A DCS distributes cooling capacity in the form of chilled water or other medium from a central source to multiple buildings through a network of underground pipes for use in space and process cooling. The system is more efficient than conventional air conditioning and has a significant positive environmental effect by reducing CO2 emissions and pollution. “We are in continuous search for better building designs and practices in terms of cost efficiency and environmental impact. A cooling system is our foremost priority as it has a significant impact, not only in terms of capital expenditure and maintenance, but because of the significant energy savings we generate and its environmental impact,” said Ana Venus Mejia, chief finance officer of FLI’s subsidiary Cyberzone Properties Inc., which will be renamed Filinvest REIT Corp. (FILREIT) pending

BusinessMirror file photo

regulatory approval. With the DCS, FILREIT is able to cool its buildings in the 18.7-hectare Northgate Cyberzone and substantially reduce greenhouse gas emissions. The Northgate Cyberzone DCS has a 10,000-ton refrigerant plant, a 42.2-megawatt cooling capacity, and a 3.4-kilometer underground distribution network of steel pipes. The cooling system also enhances water efficiency in Northgate Cyberzone buildings by eliminating the use of make-up water and the chemical treatment of cooling towers. “The district cooling system is an essential solution to cool cities efficiently and will play a critical role in fighting climate change in Southeast Asia. We are proud to have partnered with Filinvest Land Inc. to develop the Philippines’s largest energy efficient cooling system found in Northgate Cyberzone. We look forward to supporting Filinvest in scaling this infrastructure and developing similar ones across its portfolio to support the country’s transition to a low-carbon future,” said Thomas Baudlot, CEO of ENGIE South East Asia. PDDC has also invited other building owners operating in Northgate Cyberzone to connect to its

Northgate Cyberzone DCS to maximize the efficient use of the sustainable technology solution. “The success of the Northgate Cyberzone DCS gives Northgate a substantial commercial edge to attract new tenants within its IT park and is in line with the Filipino government’s drive towards green energy,” Baudlot added. “The DCS frees up building space and existing tenants can enjoy immediate benefits on their utility bill from Day 1.” According to the registration statement FILREIT filed with the Securities and Exchange Commission (SEC) last March, FILREIT’s portfolio has a total of 17 office buildings, consisting of one office tower with a retail component in Cebu Cyberzone in the gateway of Cebu IT park in Lahug City, Cebu, and 16 office buildings clustered in Northgate Cyberzone. The 16 buildings in Northgate Cyberzone are situated in Filinvest City, the first central business district (CBD) in the Philippines to receive LEED® v4 Gold for Neighborhood Development Plan certification. The property is also being served by an Eco-Loop, the country’s first integrated, electric-powered 24/7 public transport system.

Govt to put up RoRo facility in Talaga Port By Lorenz S. Marasigan @lorenzmarasigan

fter inaugurating the rehabilitated and upgraded Talaga Port in Mabini, Batangas, Department of Transportation (DOTr) Secretary Arthur P. Tugade said the government will build a rollon/roll-off facility within the first quarter of 2022 to further improve the services of the port. During his speech at the inauguration rites, Tugade said the RoRo facility will not only help drive tourism growth in Mabini, but will also benefit its residents. “We envision having a RoRo facility here at the Talaga Port so that we can help tourist divers visit Mabini and also benefit those who live here—the workers and the students,” Tugade said in Filipino. Mabini is a popular destination for scuba divers. Tugade said the agency will start building the facility either in August or September. “You can be assured that within six months from August or September, we will finish the RoRo facility,” Tugade said. He added that he has asked the Maritime Industry Authority (Marina) and the Philippine Ports Authority (PPA) to “prioritize residents”

for job openings at the port. The transport chief also said the DOTr will build a new pier in Tingloy Island as requested by the local government. “With only one fast craft service available, residents of Tingloy have limited access to the city. We are planning to build another pier so that there can be two fast craft services for its residents. I have asked PPA and Marina to put up a pier there before the President’s term ends,” Tugade said. Tugade led the inauguration of the rehabilitated Talaga Port on Wednesday. He said the old port was “old, damaged, and unsafe” for seaport use. “With the opening of this new and improved port, we can assure port users that its operations are now safe, convenient, and now has ample space for the movement of people, product, and services,” he said. Tugade added that 30 local residents were given jobs during the construction phase of the port project. The modernized port is expected to attract more businesses and spur tourism in the area. The Talaga Port is one of 14 completed social tourism and commercial projects in the province of Batangas. Ongoing are improvement works at Subukin Port in San Juan, Batangas.

A new beginning: Fortune Life introduces its new EVP-GM

ortune Life introduces Emma M. Abad as its new Executive Vice President and General Manager (EVP-GM) effective April 1, 2021. Abad’s service to the company for more than three decades has earned her the trust and confidence of the Top Management. Abad ’s commitment to Fortune Life is driven by her vision of growing alongside the company. Her career at Fortune Life began when she joined the company as an Accounting clerk, a casual position, in 1988. With patience, hard work, and dedication, she rose through the ranks from being Accounting Supervisor (1991); Accounting Manager (1997); Finance Division’s AVP (2001), VP (2007), FVP (2015), SVP (2017); SVP-AGM and OICMarketing and Sales (2019); Acting EVP-GM (2020) to her current position as EVP-GM. Through her humble beginnings and years of experience, she learned to trust God’s plan and proved that there is always a time for everything. I n one of her i nter v ie w s, Abad admitted that Fortune Life changed her life significantly in terms of personal growth, maturity, career development and fi-

nancial stability. She will always be grateful to the company, saying “ang pangako ng Fortune Life ay hindi napapako, pangakong tinutupad kahit kanino.” During the Virtual Annual Awards of Fortune Life last June 10, Abad congratulated the awardees and assured them of the company’s continued support. “As we embark on another year, we assure you that the management will do our best to support our sales force in providing excellent service to our policyholders and clients,” she said. Abad firmly believes that this pandemic will not hinder Fortune Life from reaching more Filipinos and helping them secure their family’s future today.

Companies BusinessMirror

Thursday, July 1, 2021

PHL wants to attract more American investors–envoy

By VG Cabuag

@villygc

he Philippines will invite more American companies to put up or relocate their businesses in the country, according to the special trade envoy to the United States. Jose E.B. Antonio, special trade envoy and former US ambassador, said his office is organizing “a publicprivate sector effort” to encourage more American firms to set up shop in the Philippines. “This is the best time to lay the groundwork and put the country back in the radar to attract new investments,” said Antonio, who also chairs listed property development

firm Century Properties Group Inc. A series of virtual conferences and investment presentations are being planned with support from private sector business groups including the US-Philippines Society, American Chamber of Commerce of the Philippines, the Semiconductor and Electronics Industry of the Philippines Inc., the Management Association of the Philippines and

the Harvard Business School Club of the Philippines. Antonio’s proposal comes in the wake of more companies leaving China and setting up their hubs, or growing their presence, elsewhere in Asia. About 20 of these companies, including giant tech brands Apple, Bose, Dell, Intel, and Microsoft previously announced the relocation of their production and operations to other countries like India, Cambodia, and Vietnam. Consumer products companies, such as Brooks Running, Hasbro, Skechers, Steve Madden, and Whirlpool have done the same. Based on the World Investment Report 2020 of the United Nations Conference on Trade and Development, foreign direct investment flows to the Philippines reached $6.4 billion last year, mainly from mergers and acquisitions deals in agriculture

and energy. Of this figure, the US was the sixth largest contributor at 3 percent after Singapore, China, South Korea, Japan and the Netherlands, according to the Philippine Statistics Authority. US FDI in the Philippines was $6.9 billion in 2019, a 0.3-percent increase from 2018. Antonio said the Philippines can still significantly increase its FDI inflows especially from the US by adding more comparative advantages and benchmarking with competitive countries like Vietnam, which is preferred for its lower cost of operations. “We have an English-speaking and well-skilled workforce, a young and growing population, a strong domestic market, a wealth of natural resources, and a strategic location in a fast-growing region. Now we must let foreign companies know how they can take part in doing business here,” he said.

Rockwell to launch more projects this year

ockwell Land Corp., the property development arm of the Lopez Group, on Wednesday said it expects earnings in the first half to exceed the P1.08-billion net income it posted in 2020. Rockwell Chairman Manuel Lopez said during the firm’s annual stockholders’ meeting that the company will launch more projects this year. “With our constant pursuit to build the very best, we are now very excited to move onwards and upwards as we continue on the legacy that we started in Rockwell Center, Makati, with new flagship projects,” Lopez said. In the first semester, Rockwell launched Sillion, the fifth tower in 32

Sanson by Rockwell in Cebu, The Villas at Aruga Resort and Residences— Mactan Phase 2, and Terreno South Phase 3 in Lipa, Batangas. The firm will launch Arton East, the third and final tower of The Arton by Rockwell in Katipunan, Quezon City in the second half. In Makati, it will launch 1 Proscenium with premium work spaces available for sale within the Proscenium complex. “We will always stick to our vision of creating beyond ordinary communities amid any situation. We remain optimistic of launching several projects, especially with the continued trust our clients have given our brand after seeing how well we handled the crisis,” Rockwell President Nestor

Padilla said. The company is also constructing the Balmori Suites at heart of Rockwell Center, which will have direct connection to the Power Plant Mall. This prime development will have a hotel-like lobby, premium finishes and thoughtfully designed private amenities, Padilla said. After the launch of its first condominium units in Bacolod City last December 2019, Rockwell will soon be offering residential lots within the 11-hectare Nara Residences. “We are committed to rebound sooner rather than later by growing our presence in emerging cities. This

year, we are set to launch two new Rockwell Centers: Rockwell Center Nepo, Angeles and Rockwell Center Bacolod,” he said. Nepo is a 3.6-hectare joint venture with the Nepomuceno family which will feature mid-rise residential buildings and a Power Plant Mall. Rockwell Center Bacolod will be twice the size of the first Rockwell Center in Makati and will be a 30-hectare master-planned development with the vision of becoming Bacolod’s top choice for a holistic community with a commercial center, residential spaces and lifestyle and leisure areas. VG Cabuag

mutual funds

June 30, 2021

NAV

One Year Three Year Five Year

per share

Shell unveils import terminal in Batangas

ilipinas Shell Petroleum Corp. (PSPC) inaugurated on Wednesday its import terminal in Batangas where it used to operate its Tabangao refinery. Pilipinas Shell President and Chief Executive Officer Cesar G. Romero said the Shell Import Facility in Tabangao marks two major pivots in the company’s more-than-acentury history in the Philippines: the transformation of Tabangao from refinery into a world-class terminal; and the company’s shift in its approach to a world coping with Covid-19 from effective, realtime response to recovery. “From tough decisions come positive results. The transformation of our refinery into a world-class import facility demonstrates Shell’s commitment to provide sustainable energy to the Philippines despite the challenging conditions posed by the pandemic. We are now better positioned, operationally and financially, to serve the country’s energy needs as the economy reopens with the lifting of restrictions,” said Romero. The terminal will help meet fuel demand not just in Metro Manila, but also in Southern Luzon and Northern Visayas. Lenie Lectura

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

223.34

11.26%

-2.83%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4172

38.97%

-0.48%

1.73%

7.94%

13.46%

-7.17%

-5.94%

-1.64%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0816

Climbs Share Capital Equity Investment Fund Corp. -a 0.7798 12.88%

-3.77%

-3.15% n.a.

-1.71%

-3%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7573 13.47%

-1.58% n.a.

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

-0.45%

-1.89%

-0.48%

6.15%

-4.04%

-6.38%

-2.23% n.a.

-1.03%

4.9174

14.43%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 MBG Equity Investment Fund, Inc. -a PAMI Equity Index Fund, Inc. -a

100.89

45.7863

13.66%

0.7201 29.4%

2.12%

-0.74%

-2.59%

-2.27%

Philam Strategic Growth Fund, Inc. -a

480.35

11.32%

-1.05%

-2.97%

-1.76%

Philequity Alpha One Fund, Inc. -a,d,5

1.0897

22.29% n.a. n.a.

-0.69%

Philequity Dividend Yield Fund, Inc. -a

1.152

12.94%

-1.39%

Philequity Fund, Inc. -a

34.2784

14.24%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8935

Philequity PSE Index Fund Inc. -a

4.6914

-1.06% -0.45%

-2.16% -1.51%

12.35% n.a. n.a. 14.3% 14.41%

-0.07%

-1.86%

-1.41% -2.14% -2.08%

Philippine Stock Index Fund Corp. -a

785.8

0.03%

-1.96%

-1.98%

Soldivo Strategic Growth Fund, Inc. -a

0.7158

14%

-4.4%

-4.94%

-0.43%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5554

11.63%

-2.69%

-3.36%

-1.89%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8974 13.8%

-0.34%

-2.11%

-2.21%

United Fund, Inc. -a

-0.98%

-1.19%

-1.64%

0.25%

-1.39%

3.2645

12.68%

-5.23%

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

105.4791

14.41%

-1.93%

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

$1.28

32.92%

8.11%

9.51%

6.41%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8111

32.54%

12.54%

13.29%

8.27%

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

1.678

8.4%

1.45%

-1.72%

0.56%

ATRAM Philippine Balanced Fund, Inc. -a

2.2526

9.47%

0.79%

-0.72%

-1.44%

First Metro Save and Learn Balanced Fund Inc. -a 2.6166

8.06%

1.92%

-0.47%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1961 NCM Mutual Fund of the Phils., Inc. -a

1.9666

6.71%

-0.4%

5.2% n.a. n.a. 2.95%

0.13%

PAMI Horizon Fund, Inc. -a

3.7026

5.63%

-0.74%

-2.26%

Philam Fund, Inc. -a

16.5954

6.29%

2.3%

-0.73%

-2.01%

Solidaritas Fund, Inc. -a

2.0711

7.59%

0.99%

-0.52%

-1.1%

7.37%

0.04%

-1.68%

-1.08%

4.4% n.a. n.a.

-3.2%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5346 Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9899 Sun Life Prosperity Achiever Fund 2038, Inc. -a,d

0.913

2.24%

0.47%

7.11% n.a. n.a.

-3.81%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.901

8.93% n.a. n.a.

-3.44%

Sun Life Prosperity Dynamic Fund, Inc. -a

8.98%

-1.26%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

June 30, 2021

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

46.1 113.2 88.5 25.6 10.4 48.65 10.9 19.66 22.6 55.85 22.55 117.8 76.55 1.3 4.32 2.96 1.31 0.39 0.7 200.2 2,450

46.25 113.9 88.7 25.8 10.42 48.7 11.1 20.15 22.7 55.95 22.6 118 77 1.36 4.4 3.1 1.41 0.405 0.72 209 2,524

46 114.1 87.8 25.5 10 49.2 11 19.64 22.85 56 24.25 119.3 76.45 1.3 4.38 2.99 1.41 0.405 0.7 208.2 2,450

46.25 115 88.95 25.85 10.44 49.5 11.1 19.64 22.9 56 24.25 119.3 76.75 1.36 4.4 2.99 1.41 0.405 0.7 209 2,450

46 113.2 87.8 25.5 9.98 48.7 11 19.64 22.55 55.8 22.2 117.6 76.45 1.3 4.3 2.98 1.29 0.395 0.7 200 2,400

46.1 113.2 88.7 25.5 10.4 48.7 11.1 19.64 22.6 55.95 22.6 118 76.55 1.35 4.4 2.98 1.29 0.405 0.7 209 2,400

1,900 1,743,720 1,612,800 102,500 866,300 1,538,900 213,000 100 593,200 3,460 1,765,400 783,620 830 82,000 116,000 22,000 162,000 60,000 3,000 39,030 85

87,755 198,439,748 142,982,997.50 2,631,965 8,806,279 75,411,880 2,360,600 1,964 13,456,460 193,589.50 40,495,655 92,574,265 63,487.50 110,060 508,590 65,570 213,190 23,900 2,100 8,084,292 204,500

INDUSTRIAL AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP MG HLDG MONDE NISSIN SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

8.24 1.32 24.45 0.8 30 78.9 277.2 18.28 3.32 4.02 12.78 20 12.4 17.08 6.2 2.9 14 23.3 14.8 8.17 12.78 81.5 0.63 1.38 94.75 213.4 30.5 7.5 6.85 0.29 16.52 8.44 1.04 4.55 1.42 0.158 144.5 0.87 2.3 1.27 3 15.02 7.54 6.97 6.68 13.46 1.07 2.14 1.75 1.95 5.4 21.5 4.25 9.9 1.1 5.8 1.31 6.18

8.25 1.33 24.55 0.81 30.05 79.1 277.4 18.3 3.33 4.12 13 20.25 12.48 17.5 6.22 2.93 14.38 23.4 14.84 8.18 12.8 81.6 0.65 1.4 97 213.6 31.75 7.92 6.9 0.295 16.6 8.5 1.05 4.62 1.48 0.16 144.8 0.88 2.53 1.29 3.02 15.24 7.75 6.98 6.7 13.48 1.09 2.15 1.76 1.97 5.44 21.9 4.3 9.94 1.13 5.88 1.32 6.19

8.29 1.34 24.65 0.8 30.35 79.1 279 18.6 3.32 4.12 12.8 20.5 12.52 18 6.3 2.95 14.5 23.05 14.74 8.25 12.04 81.95 0.65 1.38 99.45 213.4 30.4 7.44 6.86 0.295 16.12 8.32 1.07 4.5 1.46 0.162 145.7 0.87 2.45 1.31 2.98 15 7.7 6.8 6.8 13.48 1.05 2.14 1.76 1.97 5.4 21.9 4.22 10.18 1.09 5.8 1.34 6.2

8.34 1.34 24.8 0.81 30.35 79.2 279 18.6 3.36 4.12 13 20.55 12.52 18 6.3 2.95 14.5 23.55 14.84 8.26 12.82 81.95 0.65 1.4 99.45 213.6 30.6 7.93 6.9 0.295 16.8 8.5 1.07 4.5 1.46 0.167 145.8 0.88 2.45 1.31 3.04 15.24 7.7 6.98 6.88 13.48 1.1 2.17 1.77 2.01 5.45 21.9 4.35 10.2 1.13 5.88 1.34 6.4

8.16 1.32 24.45 0.79 30 78.6 276 18.24 3.31 4.01 12.78 19.98 12.1 18 6.09 2.9 14.5 23 14.7 8.17 11.96 79.8 0.65 1.38 94.75 208.8 30.4 7.44 6.8 0.285 16.12 8.26 1.04 4.5 1.46 0.157 144 0.87 2.45 1.27 2.9 14.94 7.53 6.8 6.67 13.4 1.05 2.13 1.75 1.94 5.4 21.8 4.17 9.9 1.08 5.78 1.32 6.01

8.25 1.33 24.45 0.8 30 79.1 277.2 18.3 3.33 4.12 13 20 12.48 18 6.22 2.9 14.5 23.4 14.8 8.17 12.8 81.6 0.65 1.4 94.75 213.6 30.6 7.92 6.85 0.29 16.52 8.5 1.04 4.5 1.46 0.16 144.5 0.87 2.45 1.27 3 15.24 7.7 6.97 6.7 13.48 1.1 2.15 1.76 1.97 5.4 21.9 4.3 9.9 1.13 5.88 1.32 6.18

13,519,100 230,000 1,871,500 7,231,000 2,297,300 113,380 198,580 2,408,500 2,114,000 15,000 200,800 1,467,800 103,200 200 12,908,900 807,000 400 1,847,200 145,400 1,208,700 23,937,100 660,970 1,000 2,479,000 101,570 943,470 600 3,200 275,500 6,300,000 29,927,900 97,500 1,230,000 60,000 13,000 24,800,000 578,880 1,137,000 50,000 6,760,000 1,396,000 1,297,600 19,600 2,095,000 507,100 24,500 222,000 1,704,000 367,000 125,000 88,000 9,300 28,188,000 541,100 308,000 19,200 407,000 8,694,700

111,574,999 305,950 45,882,975 5,799,750 69,100,275 8,966,881.50 55,072,060 44,195,848 7,041,160 60,770 2,589,132 29,552,626 1,284,240 3,600 79,464,423 2,353,520 5,800 43,186,755 2,145,716 9,890,004 302,961,652 53,327,161 650 3,458,180 9,749,606.50 200,182,428 18,300 25,317 1,891,493 1,819,650 495,712,002 814,726 1,281,200 270,000 18,980 4,012,040 83,735,252 994,250 122,500 8,689,070 4,119,860 19,528,404 150,202 14,509,185 3,401,980 329,810 237,520 3,664,520 646,340 247,180 475,350 203,635 120,896,210 5,407,793 341,490 111,268 540,410 53,712,022

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG MJC INVESTMENTS METRO PAC INV PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES WELLEX INDUS ZEUS HLDG

1.12 7.2 800 42.15 10.16 4.05 6.98 0.95 0.7 5.34 6.28 8.06 0.29 607 4.22 62.15 5.61 5.4 0.92 3.4 12.9 0.53 1.5 3.89 3.63 3.07 2.82 1.25 999.5 116.9 0.77 0.295 0.234

1.13 7.35 805 42.25 10.18 4.1 7.1 0.96 0.71 5.35 6.29 8.15 0.3 612 4.39 62.25 5.87 5.5 0.93 3.43 12.92 0.54 1.52 3.9 3.7 3.1 2.88 1.3 1,005 117.5 0.78 0.305 0.235

1.1 7.38 808 42.4 10.3 4 6.98 0.93 0.7 5.38 6.29 8.1 0.29 625 4.2 61.5 5.87 5.47 0.91 3.36 12.84 0.54 1.55 3.93 3.7 3.01 2.88 1.25 1,013 117.3 0.79 0.31 0.223

1.16 7.38 810 42.95 10.34 4.1 7.1 0.96 0.71 5.4 6.39 8.1 0.31 628 4.57 62.7 5.87 5.5 0.93 3.4 12.98 0.54 1.55 4 3.72 3.12 2.88 1.25 1,014 117.7 0.79 0.315 0.243

1.09 7.2 800 42.15 10.1 3.8 6.98 0.91 0.7 5.34 6.26 8.06 0.29 607 4.18 61.45 5.6 5.47 0.91 3.36 12.84 0.54 1.5 3.87 3.62 2.96 2.88 1.25 999.5 115.8 0.75 0.295 0.22

1.12 7.2 800 42.15 10.16 4.1 7.1 0.95 0.7 5.34 6.29 8.06 0.3 607 4.42 62.15 5.6 5.5 0.92 3.4 12.9 0.54 1.5 3.89 3.62 3.1 2.88 1.25 999.5 117.5 0.76 0.31 0.235

102,133,000 1,100 240,760 822,200 6,447,800 7,748,000 1,300 4,188,000 877,000 646,300 8,430,200 31,700 1,390,000 178,880 423,000 2,022,890 9,600 27,000 655,000 1,832,000 1,276,700 93,000 38,000 26,972,000 53,000 1,833,000 50,000 10,000 172,690 226,730 89,000 2,510,000 8,990,000

113,060,470 8,054 193,167,920 34,786,180 65,482,144 31,104,240 9,110 3,949,000 616,860 3,473,587 53,170,986 255,602 413,500 110,351,090 1,788,940 125,868,967 54,233 148,430 600,860 6,226,790 16,502,198 50,220 58,140 105,198,480 192,720 5,512,510 144,000 12,500 173,206,255 26,523,868 67,970 753,550 2,099,210

PROPERTY ARTHALAND CORP 0.68 0.7 0.7 0.71 0.67 0.68 1,075,000 736,890 36.05 36.15 36.2 36.45 36.05 36.05 13,735,500 497,282,310 AYALA LAND ARANETA PROP 1.19 1.24 1.24 1.24 1.18 1.18 2,000 2,420 36.4 36.5 36.65 36.65 36.4 36.4 637,500 23,272,860 AREIT RT 1.49 1.5 1.52 1.52 1.47 1.49 1,057,000 1,566,320 BELLE CORP 0.93 0.94 0.96 0.96 0.94 0.94 454,000 427,760 A BROWN CITYLAND DEVT 1.03 1.04 1.04 1.07 1.03 1.03 776,000 803,510 CROWN EQUITIES 0.136 0.138 0.14 0.14 0.136 0.138 1,050,000 143,700 6.5 7 6.44 6.5 6.44 6.5 10,200 65,700 CEBU HLDG 3.75 3.77 3.82 3.85 3.72 3.77 940,000 3,540,560 CEB LANDMASTERS CENTURY PROP 0.55 0.57 0.56 0.57 0.55 0.57 17,982,000 10,130,030 DOUBLEDRAGON 12 12.1 12.08 12.12 11.96 12.1 473,700 5,702,474 1.99 2 2.01 2.03 1.99 1.99 11,209,000 22,480,100 DDMP RT DM WENCESLAO 7.12 7.15 6.96 7.15 6.96 7.15 39,500 280,855 0.31 0.315 0.305 0.325 0.305 0.31 2,850,000 891,750 EMPIRE EAST 0.495 0.5 0.52 0.54 0.49 0.495 173,224,000 88,652,880 EVER GOTESCO 1.1 1.11 1.11 1.12 1.1 1.1 4,730,000 5,221,580 FILINVEST LAND GLOBAL ESTATE 0.88 0.9 0.89 0.91 0.89 0.9 3,640,000 3,286,290 7.2 7.32 7.21 7.35 7.18 7.32 29,100 209,491 8990 HLDG 1.4 1.42 1.4 1.44 1.4 1.4 217,000 305,990 PHIL INFRADEV 3 3.38 3 3 3 3 1,000 3,000 KEPPEL PROP CITY AND LAND 1.9 1.91 1.89 1.93 1.86 1.9 1,077,000 2,037,030 MEGAWORLD 3.23 3.24 3.26 3.28 3.21 3.23 19,344,000 62,605,600 0.42 0.425 0.44 0.445 0.42 0.425 35,130,000 15,041,200 MRC ALLIED 0.72 0.73 0.74 0.77 0.72 0.73 42,656,000 31,720,950 PHIL ESTATES PRIMEX CORP 3.25 3.26 3.31 3.32 3.26 3.26 951,000 3,120,620 17.26 17.28 17.7 17.7 17.26 17.28 1,695,800 29,492,656 ROBINSONS LAND 0.435 0.44 0.425 0.45 0.41 0.44 31,580,000 13,755,650 PHIL REALTY ROCKWELL 1.53 1.55 1.55 1.55 1.53 1.53 165,000 253,620 SHANG PROP 2.68 2.69 2.7 2.7 2.65 2.69 26,000 69,520 2.94 2.96 2.98 2.99 2.8 2.96 748,000 2,162,830 STA LUCIA LAND 36.5 36.9 37.2 37.4 36.5 36.5 12,196,200 449,151,725 SM PRIME HLDG VISTAMALLS 3.85 3.91 3.85 3.93 3.85 3.91 82,000 321,600 SUNTRUST HOME 1.65 1.72 1.66 1.72 1.65 1.72 514,000 852,120 3.79 3.8 3.83 3.84 3.78 3.8 3,102,000 11,812,450 VISTA LAND SERVICES ABS CBN 13.26 13.28 12.98 13.38 12.9 13.28 823,900 10,904,046 14.44 14.46 14.68 14.88 14.36 14.44 2,383,700 34,646,424 GMA NETWORK MANILA BULLETIN 0.445 0.455 0.445 0.445 0.445 0.445 130,000 57,850 9.9 10.24 9.9 10.26 9.9 10.26 6,200 61,416 MLA BRDCASTING 1,840 1,841 1,835 1,849 1,835 1,840 43,460 79,975,140 GLOBE TELECOM 1,290 1,293 1,293 1,299 1,286 1,293 83,805 108,391,700 PLDT APOLLO GLOBAL 0.179 0.18 0.181 0.182 0.178 0.18 224,130,000 40,221,590 CONVERGE 22.7 22.8 22.75 23 22.2 22.7 3,340,500 75,777,625 4.28 4.29 4.3 4.35 4.23 4.28 913,000 3,880,060 DFNN INC 8.79 8.8 8.9 8.91 8.76 8.79 7,778,800 68,554,753 DITO CME HLDG IMPERIAL 1.66 1.75 1.76 1.76 1.69 1.75 24,000 41,700 2.41 2.44 2.45 2.46 2.45 2.45 12,000 29,420 JACKSTONES 0.46 0.465 0.465 0.475 0.465 0.465 16,490,000 7,739,600 TRANSPACIFIC BR PHILWEB 2.39 2.42 2.37 2.42 2.37 2.42 236,000 566,800 8.32 8.48 8.35 8.5 8.32 8.48 15,200 127,976 2GO GROUP 14.7 14.96 14.96 14.96 14.96 14.96 600 8,976 ASIAN TERMINALS 3.08 3.12 3.08 3.14 3.07 3.08 287,000 887,670 CHELSEA CEBU AIR 54.2 54.35 53.5 54.8 53.5 54.2 610,420 33,180,671.50 INTL CONTAINER 163.4 163.7 161.9 165 161.9 163.7 1,893,030 310,167,651 17.7 18.34 17.42 17.7 17.42 17.7 700 12,362 LBC EXPRESS 5.37 5.38 5.69 5.71 5.33 5.38 4,779,500 26,333,112 MACROASIA METROALLIANCE A 2.13 2.15 2.13 2.15 2.13 2.15 18,000 38,440 1.21 1.22 1.25 1.25 1.21 1.21 259,000 313,900 HARBOR STAR 1.92 1.95 1.97 1.97 1.9 1.9 10,000 19,140 ACESITE HOTEL 0.122 0.123 0.128 0.129 0.123 0.123 136,950,000 17,158,690 BOULEVARD HLDG DISCOVERY WORLD 3.15 3.26 3.05 3.3 3 3.26 239,000 764,450 0.59 0.6 0.61 0.61 0.59 0.6 1,193,000 715,180 WATERFRONT 7.16 7.49 7.14 7.14 7.14 7.14 100 714 IPEOPLE STI HLDG 0.39 0.395 0.405 0.405 0.39 0.39 23,130,000 9,131,300 BLOOMBERRY 6.5 6.51 6.65 6.65 6.51 6.51 6,456,300 42,438,029 2.07 2.1 2.11 2.11 2.07 2.07 33,000 69,110 PACIFIC ONLINE 1.57 1.58 1.65 1.65 1.58 1.58 366,000 583,060 LEISURE AND RES MANILA JOCKEY 2.12 2.18 2.06 2.06 2.04 2.04 34,000 69,660 1.95 1.96 1.94 2 1.94 1.96 2,058,000 4,065,170 PH RESORTS GRP 0.42 0.43 0.42 0.44 0.415 0.425 8,150,000 3,446,550 PREMIUM LEISURE 7.89 7.9 8.05 8.05 7.89 7.9 2,253,600 17,993,828 ALLHOME METRO RETAIL 1.45 1.47 1.49 1.49 1.45 1.47 345,000 506,770 40.15 40.5 40 40.5 40 40.5 1,766,600 71,198,775 PUREGOLD 53.6 53.7 52.5 54.4 52.5 53.7 1,007,670 54,158,512 ROBINSONS RTL PHIL SEVEN CORP 96.6 97 98 98 97 97 5,390 523,885 SSI GROUP 1.22 1.25 1.26 1.27 1.22 1.22 8,060,000 9,879,880 20.05 20.15 20 20.3 20 20.15 5,491,100 110,332,900 WILCON DEPOT 0.39 0.4 0.39 0.4 0.39 0.39 1,980,000 777,000 APC GROUP EASYCALL 6 6.15 6 6 6 6 25,400 152,400 425 439 430 439 430 439 820 359,830 GOLDEN MV 1.64 1.65 1.65 1.69 1.64 1.64 6,492,000 10,715,740 PRMIERE HORIZON 4.22 4.35 4.23 4.3 4.22 4.22 30,000 126,870 SBS PHIL CORP

60,115 -59,186,461 -14,044,901 28,225 -1,083,468 3,100,765 333,000 -1,327,845 -118,614 717,855 -2,014,385 8,425.50 7,781,292 -12,211,140 -26,818,405 -191,150 -44,036,715 -1,084,479 -5,512,196 2,734,098 -805,580 4,120 -20,912,201 -5,785,139 40,720 4,158,245 -255,064 -1,707,141 -5,606,390 -34,639,628.50 295,180.00 -410,217.50 -62,203,720 1,189,919 -11,020,628 10,400 51,200 -31,790,608 -176,000 -2,761,540 342,410 -265,025 -2,035,058 4,240 -10,950 6,499,190 4,950 43,720 -9,966 338,560 -37,871,870 -7,185,915 -2,357,794 18,563,190.00 220,450 -645,395 6,187,420 -122,564 -183,000 11,179,495 -1,260,000 4,782,669 -601,580 -34,208 -60,888,450 21,720 41,970 -9,021,602.50 -12,300,285 -125,627,805 -7,662,780 -583,050 18,800 -517,330 56,470 -73,560 509,346 5,349,120.00 -3,250 -3,979,450 -3,727,490 8,560 -45,660 -3,947,170 69,750 1,480 404,510 -1,252,524 119,800 26,350 -133,086,180 -35,190 13,200 -6,261,700 3,466,150 1,234,705 -5,160 5,728,890 -564,000 1,324,816 -178,100 -17,735 27,810 -9,408,322 -45,310,628 102,695 -10,900 482,780 -47,500 -7,830,300 -25,205,237 79,000 494,670 -13,450 -2,509,269 23,493,720 11,898,706 -499,610 -5,423,910 17,492,375 206,150 1,244,620 -

MINING & OIL ATOK 8.7 8.8 8.4 8.9 8.38 8.7 468,700 4,064,819 -71,935 APEX MINING 1.6 1.61 1.6 1.61 1.57 1.6 2,517,000 4,001,070 -789,930 ATLAS MINING 6.34 6.36 6.41 6.43 6.25 6.34 867,300 5,481,840 -40,576 Cocolife Dollar Fund Builder, Inc. -a $0.03816 -0.83% 3.19% 1.35% -2.45% 5.6 5.69 5.68 5.75 5.5 5.69 661,100 3,723,492 BENGUET A 5.46 5.47 5.5 5.58 5.2 5.46 368,200 1,960,309 -60,060 BENGUET B PAMI Asia Balanced Fund, Inc. -b $1.1423 15.91% 4.39% 5.46% -0.69% COAL ASIA HLDG 0.31 0.32 0.32 0.32 0.32 0.32 100,000 32,000 Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7598 23.7% 9.52% 9.3% 5.47% 2.85 2.86 2.86 2.86 2.85 2.86 50,000 142,850 14,300 CENTURY PEAK Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2194 11.96% 5.51% 5.19% 1.44% 6.68 6.86 6.68 6.86 6.68 6.86 28,100 188,013 6,020 DIZON MINES 2.56 2.58 2.52 2.58 2.52 2.58 2,149,000 5,508,020 898,670.00 FERRONICKEL Bond Funds GEOGRACE 0.33 0.335 0.33 0.33 0.325 0.33 230,000 75,800 Primarily invested in Peso securities 0.155 0.156 0.157 0.157 0.154 0.156 10,160,000 1,580,400 LEPANTO A 0.158 0.163 0.159 0.159 0.157 0.158 1,490,000 235,560 -11,060 LEPANTO B ALFM Peso Bond Fund, Inc. -a 372.37 1.85% 3.24% 2.42% 0.35% MANILA MINING A 0.011 0.012 0.011 0.012 0.01 0.012 183,700,000 2,012,600 ATRAM Corporate Bond Fund, Inc. -a 1.9279 -0.69% 1.2% 0.17% 1.45% 0.011 0.012 0.012 0.012 0.011 0.012 34,200,000 406,700 MANILA MINING B 1.23 1.24 1.22 1.24 1.22 1.24 214,000 261,900 MARCVENTURES Cocolife Fixed Income Fund, Inc. -a 3.2288 1.17% 3.79% 4.32% 0.44% 1.69 1.7 1.57 1.69 1.54 1.69 2,582,000 4,215,350 NIHAO Ekklesia Mutual Fund Inc. -a 2.2624 -1.84% 2.23% 1.32% -1.46% NICKEL ASIA 5.51 5.52 5.35 5.56 5.35 5.51 10,715,800 58,999,816 11,474,617 First Metro Save and Learn Fixed Income Fund,Inc. -a 2.441 -0.44% 3.29% 1.67% -0.5% OMICO CORP 0.41 0.42 0.41 0.41 0.41 0.41 270,000 110,700 1.02 1.04 1 1.05 1 1.04 1,455,000 1,499,850 ORNTL PENINSULA Philam Bond Fund, Inc. -a 4.4925 -3.32% 4.39% 1.34% -3.07% 6.44 6.45 6.64 6.64 6.43 6.45 858,200 5,570,830 316,414 PX MINING Philam Managed Income Fund, Inc. -a,6 1.3249 2.06% 4.28% 2.81% 0.28% SEMIRARA MINING 14.74 14.78 14.6 14.84 14.58 14.74 1,686,500 24,872,464 -4,177,708 UNITED PARAGON 0.0096 0.0097 0.0092 0.0096 0.0092 0.0096 141,000,000 1,333,300 18,500 Philequity Peso Bond Fund, Inc. -a 3.982 0.74% 4.67% 2.12% -0.48% 18.6 18.76 20 20 18.32 18.76 348,700 6,575,906 41,242 ACE ENEXOR Soldivo Bond Fund, Inc. -a 1.0363 0.85% 4.67% 1.67% -0.55% 0.011 0.013 0.013 0.013 0.012 0.013 162,800,000 1,982,200 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.013 0.013 0.013 0.013 1,200,000 15,600 14,300 Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2133 1.27% 5.49% 2.5% 0.23% 0.011 0.012 0.012 0.012 0.011 0.012 33,000,000 373,600 1,200 PHILODRILL Sun Life Prosperity GS Fund, Inc. -a 1.7492 0.33% 4.77% 1.84% -0.33% 7.92 8 8.08 8.08 7.91 7.92 627,300 5,031,789 -1,127,367 PXP ENERGY Primarily invested in foreign currency securities PREFFERED ALFM Dollar Bond Fund, Inc. -a $486.15 2.63% 3.2% 2.26% 0.47% HOUSE PREF B 101 101.5 101.5 101.5 101.5 101.5 1,600 162,400 ALFM Euro Bond Fund, Inc. -a Є220.13 2.21% 1.12% 1.12% 0.43% 521 534 520 521 520 521 15,330 7,971,610 1,560,000 AC PREF B1 AC PREF B2R 522.5 523.5 523.5 523.5 523.5 523.5 20 10,470 ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1901 -2.39% 2.32% 1.2% -7.05% 52.4 53 51.7 53.2 51.6 53 166,780 8,823,071 -5,448,184 CEB PREF First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0.38% 1.85% 0.95% -1.88% 102 103.5 103.5 103.5 103.5 103.5 26,360 2,728,260 CPG PREF A 100.8 102 101 101 100.8 100.8 2,240 225,912 DD PREF PAMI Global Bond Fund, Inc -b $1.0503 -1.9% 0.46% -0.82% -3.88% GLO PREF P 504 505 505 505 505 505 900 454,500 Philam Dollar Bond Fund, Inc. -a $2.5095 2.71% 5.49% 2.01% -1.03% 100.7 101 100.6 101 100.6 101 25,880 2,603,532 MWIDE PREF Philequity Dollar Income Fund Inc. -a $0.0629957 3.96% 3.56% 2.22% 1.09% 100.6 101 100.9 100.9 100.8 100.8 1,000 100,840 MWIDE PREF 2B 106 106.8 106.8 106.8 106.8 106.8 30 3,204 PNX PREF 3B Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1777 -0.06% 3.33% 0.84% -1.42% PNX PREF 4 1,003 1,006 1,003 1,006 999 1,006 4,300 4,301,145 Money Market Funds 1,027 1,030 1,030 1,030 1,030 1,030 10 10,300 PCOR PREF 2B 1,114 1,115 1,114 1,114 1,114 1,114 100 111,400 PCOR PREF 3A Primarily invested in Peso securities PCOR PREF 3B 1,140 1,148 1,150 1,150 1,135 1,140 65 74,545 -11,350 ALFM Money Market Fund, Inc. -a 130.31 1.71% 3.05% 2.53% 0.39% SMC PREF 2C 79 79.5 79.2 79.2 78.9 78.9 20,370 1,607,895.50 76.2 77.8 76.95 76.95 76.95 76.95 1,000 76,950 SMC PREF 2E First Metro Save and Learn Money Market Fund, Inc. -a 1.053 1.11% n.a. n.a. 0.47% 78.95 79.55 79.5 79.5 79.5 79.5 26,700 2,122,650 SMC PREF 2F Sun Life Prosperity Money Market Fund, Inc. -a 1.3053 1.71% 2.56% 0.67% 2.84% SMC PREF 2H 76 78 78 78 76 78 161,690 12,318,174 Primarily invested in foreign currency securities 76.25 76.4 76 76.9 76 76.5 2,230 169,615 SMC PREF 2J 75.85 75.95 76 76 75.95 75.95 836,600 63,581,270 - SMC PREF 2K Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0577 1.22% 1.67% n.a. 0.5% Feeder Funds PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.06 12.8 12.96 13.08 12.8 12.8 4,700 60,840 -1,294 Primarily invested in Peso securities 13 13.08 13.04 13.12 13 13 48,600 634,616 85,130 GMA HLDG PDR Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2699 n.a. n.a. n.a. 12.42% WARRANTS Primarily invested in foreign currency securities LR WARRANT 1.89 1.9 1.84 2.04 1.84 1.89 4,376,000 8,541,010 - ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $1 8.7% n.a. n.a. 2.04% SMALL & MEDIUM ENTERPRISES a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). ALTUS PROP 17.4 17.42 17.4 17.52 17.4 17.42 188,800 3,294,176 2.58 2.59 2.52 2.59 2.5 2.59 518,000 1,314,190 ITALPINAS 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. KEPWEALTH 5.13 5.4 5.2 5.2 5.12 5.12 14,100 72,866 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 4.05 4.06 4.11 4.11 4.05 4.06 5,845,000 23,798,370 215,670 MERRYMART 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. "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 EXHANGE TRADE FUNDS FIRST METRO ETF 105.5 105.6 105.5 105.9 105.5 105.6 9,630 1,017,060 30,631 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." 0.8899

-0.53%

-1.91%

Primarily invested in foreign currency securities

0.25%

Envoys&Expats BusinessMirror

www.businessmirror.com.ph

Envoy completes term with key contributions to Israel-PHL ties

RESIDENT Duterte recently hailed Ambassador Rafael Harpaz of Israel’s notable feats in the strengthened bonds between their nations in the areas of defense, business and innovation, agriculture, and labor migration. During their farewell meeting on June 16, the Chief Executive conferred on the outgoing envoy of the State of Israel the Order of Sikatuna, Rank of Datu (Grand Cross)-Silver Distinction for his key role in elevating the degree of relations binding Israel and the Philippines. There, Duterte particularly noted Harpaz’s contribution to ensure the humane and orderly treatment of overseas Filipino workers in Israel, as well as the realization of two-way deals on the temporary employment of Filipino home-based caregivers and workers in its hotel sector. “I’m ending my term as the Israeli ambassador in this beautiful country

with the bilateral relations between Israel and the Philippines stronger,” the departing ambassador declared. Israel’s Honorary Consulate in Davao City, including its Defense Attaché as well as Economic and Commercial Mission offices, were opened respectively this year despite the pandemic. “The embassy is expanding, which is an indication of the demand for cooperation and established relations between our countries,” Harpaz explained. The diplomat played a key role in building connections between government agencies, businesses and chambers, religious organizations,

PRESIDENT Duterte (left) confers the Order of Sikatuna with the rank of Datu (Grand Cross)-Silver Distinction on Israel’s ambassador Rafael Harpaz. TOTO LOZANO/PRESIDENTIAL PHOTO

nonprofit organizations, and many more. This enabled more opportunities for Israel to realize the incentives of the Philippines, and vice versa. In the middle of the pandemic, the ambassador spearheaded Israel’s donation of medical supplies, testing kits and educational tools to help the Philippines combat the contagion. A medical team from Israel also recently arrived in the country, as it shared lessons and best practices in the vaccination program and deployment in the Holy Land. “Harpaz’s term was very fruit-

MEMBERS of the Indian Business Forum Phils. Association Inc. and officials of the Philippine General Hospital.

Indian firms’ contributions in the country through the IBF, as well as its positive impact generated in furthering the trade and business relationships between India and the Philippines. For his part, Tiwari said that the endowment to the PGH was one of the initial CSR activities planned by the IBF in 2021. He said the group will continue to make a positive contribution to the overall well-being of the Indian community in the Philippines, as members are willing to work closely with concerned government departments and agencies.

Biz, economic ties

MEANWHILE, Singh highlighted the valuable role of companies from India in building business and economic relationships with the Philippines. He further stated that their enterprises, especially those in the information technology-businessprocess outsourcing (IT-BPO) sector, continue to be the largest foreign employer in the Philippines, and is

ful,” expressed Nir Balzam, chargé d’affaires a.i. of the embassy. “On behalf of the [embassy], we would like to thank him and wish him all the best in his future endeavors.” The Israeli envoy started his service to the Philippines in August 2018. His first mission as Duterte’s official escort during the latter’s historic visit to the Holy Land in the same year brought significant developments in the fields of cooperation between their countries—including economy, agriculture and tourism, among many others.

a core strength of the local economy. IBF Board Member Rakesh Singh Rao thanked the PGH and the Department of Health for providing IBF with the opportunity to help. Other board directors present during the turnover were Thumkesh Khera and Ramaesh TK. Other members of the IBF board further stated they wish to carry out similar CSR engagements, in coordination with concerned departments and agencies in the Philippines “for the larger benefit of the Filipino people, as well as to add more substance and depth to the business and [commercial ties between our nations].”

Catalyst

A NONSTOCK organization, the IBF was created in 2017 with a vision to catalyze and foster Indian-Philippine relationship. It is composed of senior representatives from India-based establishments in the Philippines in various sectors such as pharmaceuticals, IT-BPO, textile, insurance, chemicals, banking and others, as

well as Indian professionals working in multinational corporations and Filipino firms. IBF also serves as a think-tank to the ambassador of India in the Philippines in furthering India-Philippines cooperation in the areas of bilateral trade and commerce. It assists in ensuring ease of doing business for Indian companies in the Philippines and Filipino businesses in India, in close coordination with its embassy in the Philippines and various business chambers in the two countries. Board members mentioned the substantial Indian investments in the Philippines, mainly in the areas of textiles, garments, IT and IT-enabled services, airports, chemicals, automobiles and pharmaceuticals. Notable among these are Hinduja Global Solutions, Wipro, TCS, L&T Infotech, Innodata, IL&FS Genpact, Infosys, Tech Mahindra, and others in IT-BPO; Hetero Labs (Camber), Zydus Cadila, Lupin, Glenmark, Torrent, and Sun Pharma in pharmaceuticals; Bajaj and TVS in motoring; IndoPhil (Aditya Birla Group) in textiles; and R. M. Chemicals Southeast Asia Inc., to name a few. Likewise, there has been a gradual rise in investments by Filipino companies in India in energy, food processing and others, led by AG&P Manila, AC Energy, Liwayway Marketing Corp., Del Monte, Lloyd Laboratories, among others.

Asean Committee-Buenos Aires sends materials to Argentine MFA’s Natl Institute of Foreign Service

UENOS AIRES—The Asean Committee in Buenos Aires (ACBA) reaffirmed its warm ties with Argentina on June 9 with its donation of the bloc’s policy papers, literature and other cultural materials to the National Institute of Foreign Service (ISEN). The activity manifested the ACBA’s openness to increase exchanges with the South American country on several levels, and aimed to create greater awareness of Asean in the institute.

LEFT photo: Asean Committee ambassadors and charge d’affaires donated books to the institute. Right photo: Ambassador Linglingay F. Lacanlale (center) donated books on the Philippines to Argentina’s National Institute of Foreign Service Ambassador Victorio Taccetti. BUENOS AIRES PE

Attendance at the ISEN is obligatory in the formation of Argentine diplomats.

Site markers of PHL ambassador’s official residence in the US unveiled

US State Department Philippine Desk officials Brian Frere (in both photos, from left), Ambassador Jose Manuel G. Romualdez, Consul General Jose Victor Chan-Gonzaga and former head of the National Commission for Culture and the Arts’ National Committee on Monuments and Sites Ivan Henares WDCPE

Indian Business Forum extends helping hand to rebuild PGH’s damaged facilities

ART of the corporate social responsibility (CSR) initiative of its member companies, the Indian Business Forum Philippines Association Inc. (IBF) provided funds and medicine to the Philippine General Hospital (PGH) on June 21 to reconstruct its neonatal intensive care unit. Held in the PGH’s Main Building, the IBF provided funds worth P1 million and medicines amounting to P12 million to the facilities which were damaged by fire on May 16. The cheque and medicines were handed over by the IBF board members to Dr. Gerardo Dizon Legaspi, director of the PGH. Other dignitaries present were Health Undersecretary Dr. Leopoldo J. Vega, the Embassy of India’s First Secretary for Economy and Commerce Nishikant Singh, as well as IBF’s president Dileep Tiwari and mentor Pushkar Mishra. Dr. Legaspi appreciated the IBF’s gesture, as he referenced a recent donation of $200,000 by the government of India to Mahaveer Philippine Foundation Inc. The organization provided prosthetic legs, or Jaipur feet, manufactured in India to needy Filipino amputees through the PGH in April 2018. For his part, Dr. Vega cited the notable contribution of the Indian pharma companies, as they provided affordable and quality medicines in the Philippines. Both gentlemen appreciated the

Thursday, July 1, 2021

Asean member-countries have become significant destinations of A rgent ine ag ro -industr ia l

products. Argentina’s accession to the Treaty of Amity and Cooperation in 2018 bodes well for the future of cooperation between the two sides. The donation was initially planned during the Philippine presidency of the ACBA in 2019, but the pandemic and changes of authority within ISEN led to its postponement. Ambassador Victorio Taccetti, director general of ISEN, received the ambassadors and thanked them for the initiative.

ASHINGTON, D.C.—National historical markers from the National Historical Commission of the Philippines (NHCP) were unveiled at the official residence of the Philippine Ambassador to the United States on June 21. The unveiling was of deep significance and great importance, as it coincided with the 75th anniversary of the formal establishment of diplomatic relations between the Philippines and the US. Ambassador Jose Manuel G. Romualdez was joined by the Philippine Embassy’s Consul General Jose Victor Chan-Gonzaga, US State Department Philippine Desk officials Brian Frere and James Shea, as well as the former head of the Philippines’s National Commission for Culture and the Arts’ National Committee on Monuments and Sites Ivan Henares during the unveiling ceremony. “It is clear that the relationship between our two countries will always be of manifest importance then and now. We have shared values, a shared history, and a long-standing friendship… Seeing how far the Philippines has come, insights can be drawn for forging ahead into the future,” said Romualdez. “We will endure, we will not waver, and we will toil as those

who came before us did, in fighting for democracy, for freedom, for prosperity, for social justice.” The ambassador also shared that “63 years ago, former presidents Carlos P. Garcia and Dwight Eisenhower signed a joint communique embodying Philippine-American friendship and mutual goodwill at the Filipiniana Room just a few steps from where we are today.” The structure was designed by Waddy B. Wood and built in 1904 by William Lipscomb and Co. for Retired General and Mrs. Charles L Fitzhugh. In 1913 Philippine Commonwealth president Manuel L. Quezon had the opportunity to visit the house, and was impressed by its structure and design. In 1946 the property was acquired by the first Philippine ambassador to the US Joaquin M. Elizalde. Then in 1949 the Philippine government bought such from the Elizaldes. Since then it has become the official residence of succeeding Philippine ambassadors to the States. The installation of national historical markers for the official residence of the Philippine Ambassador to the US was approved by the NHCP on May 10. The cast-iron marker will be installed on the residence’s façade within the year.

Japan jumpstarts operations of Maguindanao’s water systems

HE Embassy of Japan, led by Charge d’Affaires Masahiro Nakata, conducted the ceremonial handover of two Level-II water systems in Barangays Looy and Rifao in Upi, Maguindanao on June 21 and 22. The Bangsamoro Autonomous Region in Muslim Mindanao’s Environment, Natural Resources and Energy Senior Minister Abdulraof Abdul Macacua, Labor and Employment Minister Romeo K. Sema, Indigenous Peoples’ (IP) Affairs Minister Melanio Umbit Ulama, Upi Mayor Ramon Piang, and Bangsamoro Development Agency’s Executive Director Windel Diangcalan witnessed the launch. Both Nakata and International Labour Organization (ILO) Country Director Khalid Hassan delivered their messages online. The first Level-II water system launched on June 21 is in Barangay Looy, South Upi. Occupied mostly by IPs—particularly, the Tedurays, the village relies heavily on shallow or dug wells, rivers and rain for its water and sanitation needs. More than 500 households and around 900 school children will benefit from the water infrastructure in the said locale. In Barangay Rifao, a similar water system consisting of eight tap stands that will serve 80 households and 425 school children was handed over on June 22. Forty-five Teduray workers were contracted to work on the facilities. The barangay—mostly inhabited also by the said IPs—now has access to safe and reliable water. Using a local resource-based approach in generating employment during these times challenged by a health crisis, men and women in the community were engaged in the construction work. For their protection, occupational safety and health protocols in the light of the pandemic were implemented. Moreover, the workers were trained on the opera-

JAPANESE Embassy and Bangsamoro Region officials

tions and maintenance of the water system to ensure ownership and sustainability of the project. According to the embassy, the initiative was under the ILO-Japan Water and Sanitation Project in the Bangsamoro Region signed on March 6, 2019. The ILO intervention envisions developing water infrastructures that will benefit an estimated 11,814 households in the Bangsamoro Region. Around 2,463 informal sector workers in Maguindanao, Lanao del Sur, Cotabato City and 63 barangays in North Cotabato will be provided emergency employment with social protection. Ensuring the safety and health of workers, hand-washing facilities were established in the work sites, as pandemic-responsive occupational safety and health protocols were in-place. While the overall goal of the project is peace and development in Mindanao, it will also contribute toward the achievement of the Sustainable Development Goals, particularly Goal 6 on clean water and sanitation, as well as Goal 8 on decent work and economic growth. Since 1974 Japan has maintained a longstanding cooperation with the ILO. The said country has supported a number of ILO projects on disaster response, sustainable livelihood, peace and security, as well as local economic development, among others, in the Philippines.

Agriculture/Commodities

B4 Thursday, July 1, 2021 • Editor: Jennifer A. Ng

BusinessMirror

www.businessmirror.com.ph

Imports boost pork inventory

an all-time high after shipments in January to May surged by nearly 330 percent to 98,369.608 MT, surpassing last year’s purchases. Industry players attributed the increase to the need to plug the shortfall in domestic supply which caused the spike in retail prices. They also noted that the reduction in pork tariffs contributed to the quadrupling of imports of prime pork cuts. (Related story: https://businessmirror. com.ph/2021/06/10/philippine-pork-imports-may-reach-recordhigh-this-year-bai-data/).

BusinessMirror file photo

By Jasper Emmanuel Y. Arcalas

@jearcalas

he country’s frozen pork inventory as of mid-June rose to its highest level in nearly 12 months due to the increase in imports, latest National Meat Inspection Service (NMIS) data showed. Data from the NMIS indicated that the inventory of frozen pork as of June 14 went up by 1.47 percent to 50,582.75 metric tons, from its previous week level of 49,849.76 MT. The latest figure was also 26.84 percent higher than the 40,567.72 MT recorded on May 17. On an annual basis, the latest nationwide frozen pork inventory was 3.75 percent higher than the 48,750.22 MT recorded on June 15, 2020. NMIS data showed that bulk of the country’s frozen pork inventory or about 48,686.32 MT was imported while local pork accounted for 1,896.43 MT. Historical NMIS data showed that the June 14 frozen pork inventory is the highest since July 13, 2020. Imports expanded by 1.59 percent from the 47,924.02 MT recorded on June 7 and was 25.53 percent higher than the 38,783.36 MT recorded on May 17.

NMIS data also showed that Region 3 posted the highest frozen pork inventory at 15,955.58 MT, of which 98.21 percent or about 15,669.87 MT were imported. The frozen pork inventory in the National Capital Region was estimated at 12,689.41 MT, of which 12,472.34 MT were imports. The NMIS noted that its frozen pork inventory data covers pork carcass, primal parts and specialty cuts. The government is banking on imports to augment the shortage in domestic pork supply and to arrest rising pork prices. The Executive branch implemented measures aimed at lowering pork tariffs to as low as 10 percent and hiking minimum access volume (MAV) for pork to plug the domestic shortfall. The BusinessMirror earlier reported that the country’s purchases of imported pork bellies and cuts are on track to reach

DA forms devolution committee

he Department of Agriculture (DA) has formed a committee that would focus on the devolution of the responsibilities of the national government in the agriculture sector to the local government units (LGUs). Agriculture Secretary William D. Dar issued Special Order (SO) 432 which created the DA’s committee on devolution. It is tasked to prepare the department’s devolution transition plan (DTP). Dar said the DTP shall cover “all the DA offices, bureaus, attached agencies, [and] GOCCs under the control or supervision of the DA.” The DTP must be in conformity with the joint guidelines issued by the Departments of Budget and Management (DBM) and the Interior and Local Government, according to the SO. The DTP must outline the specific functions, services, and facilities of the DA that will be devolved to the LGUs as well as the required “strategies, phasing of devolution” to the LGUs and the timeline. Based on the SO, the DTP shall also stipulate the standards for the delivery of devolved services and strategies for the capacity development of the LGUs. It noted that the DTP must contain the framework for the monitoring and performance assessment of the LGUs.

The SO indicated that the committee shall consult and collaborate with concerned government agencies “for technical assistance in the preparation of the DTP.” The committee can also commission a “short-term rapid study” to determine certain details to facilitate the efficient implementation of the devolution of the DA’s functions to the LGUs. The study may include details regarding the positions and the number of personnel that “may likely be affected by the devolution” as well as proposals to strengthen the steering functions of the DA as part of the devolution efforts. The DTP must be submitted by the committee on or before September 29 to the DBM, pursuant to Executive Order 138, for its evaluation and approval according to the SO. The committee is headed by Agriculture Undersecretary for Operations Ariel T. Cayanan while other DA undersecretaries and assistant secretaries will serve as co-chair. The DA’s legal service director Armando R. Crobalde Jr. as well as its Senior Economic Adviser Fermin D. Adriano shall also serve as co-chairpersons of the committee. Jasper Emmanuel Y. Arcalas

Gold drops to 10-week low as dollar gains on haven demand

old slipped to the lowest since mid-April as the dollar firmed on mounting concerns about the delta coronavirus strain in Europe. The highly contagious virus strain that originated in India is becoming dominant in France and Germany. It has also become the main variant in South Africa’s commercially important Gauteng province, and close to half of Australia’s population is now in lockdown as it struggles to contain the delta variant. A gauge of the dollar strengthened on haven demand, pressuring bullion. The strength in the greenback “is a major drag on gold,” said Carsten Fritsch, an analyst at Commerzbank AG. “Gold repeatedly failed to overcome the 100-day

moving average in recent days, which was a bearish sign. There is a risk now that so far patient ETF investors jump on the bandwagon and sell their holdings. This would amplify the downward move.” Bullion is headed for the biggest monthly drop in more than four years after the Federal Reserve pulled forward its forecasts for interest rate hikes. Gold has slid below $1,800 an ounce this month and traders are now focused on the timing of when policy makers may start dialing back stimulus. Investor holdings of goldbacked exchange-traded funds have remained steady this month after rising 1.6 percent in May, according to data compiled by Bloomberg. Bloomberg News

Parentlife BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Thursday, July 1, 2021

Championing fatherhood and sports REWARDING EXPERIENCE FROM POPULAR FAST-FOOD BRAND

ONE of the country’s most popular fast-food brands, Jollibee makes satisfying food cravings even more rewarding with the launch of the new Joy Rewards card which offers exclusive promos aside from earning of points. Guests can get their new Joy Rewards Cards in all participating Jollibee stores for only P100. Registering can be accomplised in two easy ways: via www.happyplus.com.ph or through SMS. The card lets consumers earn points, as well when they purchase food products from participating stores of other brands, like Chowking, Greenwich, Mang Inasal and Red Ribbon. Every P50 spent earns a point that, when collected, can be used to purchase even more of products. They can also earn points whenever they fill up at participating Caltex stations. New members are entitled to a welcome gift of a free Jolly Spaghetti with a minimum purchase of P300 using the card upon card registration. Customers can use the Joy Rewards card for cashless transactions to pay for purchases for Dine-In, Take-out, or Drive-Thru.

THE two-year-old child was found alive after spending two nights alone in the woods in Tuscany. AP

Lost child found after 2 nights in the Italian woods MILAN—A 21-month-old child was found alive on Wednesday in the bottom of a ravine after spending two nights alone in the woods near his home in Tuscany. The boy was found when a TV journalist heard his whimpers, emerging with a bump on his head and some scratches but in otherwise good condition. Nicola Tanturli had wandered away from his isolated home in the Apennine mountains sometime during the night Monday, and was the subject of an intense round-the-clock search and Italian media coverage. Church bells rang out in celebration in the town of Palazzuolo sul Senio, near Florence, when the boy was found, some 2 kilometers (a mile) from home. A journalist for RAI state television covering the story was walking up a dirt road toward the family home when he heard whimpers from a ravine heavily covered in trees and brush. “I started to yell, ‘Nicola,’ to understand if it could be the child. I heard ‘mamma,’” Giuseppe Di Tommaso said on RAI. “I started to repeat the word ‘mamma,’ because children of that age repeat words. When I intuited that it could be Nicola, I went down into the ravine.” He said he could see the child on the other side, about 10 meters (yards) away in a hard-to-reach area thick with thorny brush. A car drove by at that moment, and Di Tommaso hailed two Carabinieri paramilitary officers, who initially disbelieved the sounds could have come from the boy, “this being an area full of animals that make sounds that can sound like a child.” Carabinieri commander Danilo Ciccarelli said he climbed some 25 meters (yards) down the embankment, expecting to find a small deer. “Instead, Nicola popped out, with his little head among the high grass. He said, ‘mamma,’ and I went toward him. He hugged me right away,” the commander said. He checked the boy’s condition, finding only some scratches and a small bump on his head, before carrying him up the embankment and reuniting him with his parents. w “It was a tremendous joy to bring him back to his mother’s arms,’’ Ciccarelli said. The commander doesn’t believe the boy spent the night where he was found, because the brush and grass was not tamped down, and that it was likely that he had arrived through the woods, not from the road. “He is a very active child, very lively,’’ Mayor Gian Piero Philip Moschetti told a news conference. “He could walk for a kilometer [half a mile] an hour. We have no idea how much distance he could have covered. He was used to going out of the house and living outdoors.” AP

AST week, I shared how parents can deepen bonding with their kids through play, which results in building the character of children. This week, let me put the focus on dads and sports. The present situation has opened the door for fathers to play a more vital role in their child’s growth and development. With them spending more time at home than ever before, dads can now share the load in running the household with their significant other. Research has shown that parent-child interactions in the early ages can lead to more positive cognitive and socio-emotional benefits, and more are recognizing the unique benefits of father-child play. Former MILO champion Japoy Lizardo has taken this trend to heart as a father to his sons Jace and Jevi. He offers advice for dads to help them be more involved and take a more active role in caring for their children. First and foremost is the need for dads to be as resourceful and creative caring for their kids’ physical health. “Ngayon mas kailangan maging creative and resourceful para sa mga activities ng mga kids. Unlike before na pupunta lang kayo sa park at maglalaro o pupunta lang kayo sa basketball court, magdi-dribble kayo dun, ngayon kailangan na talaga ng magagandang mga activity at kailangan namin sila gawan ng sarili nilang court,” said Lizardo. The need for innovation extends beyond Lizardo’s role as a dad, as he is also a beloved coach to many aspiring taekwondo athletes. Along with his wife Janice, the pair are among the many coaches today who have had to learn how to shift from face-to-face trainings to a more distant-learning approach. This of course comes with its own set of challenges, but Lizardo continues his work of training and raising the next generation through his involvement in several online programs such as the MILO Sports Interactive Online Classes (MSIOC). “’Yung ating pagiging champion noon, at least kahit papaano nadadala natin hanggang ngayon. So kahit naman noon na face-to-face training na nakaka-develop tayo ng mga champions and mga students natin na aiming na pumasok sa sports, we can still develop champions through online classes. So hindi pa rin natitigil ’yung pagdi-develop natin at pagbi-build natin ng champions mula noon, hanggang ngayon,” added Lizardo. Coaches, much like parents, also play a role in a child’s growth and development. Aside from their parents, aspiring athletes spend the most time with their coaches, so it is just expected for Lizardo to instill values just as a parent would. It goes beyond

the gym and just teaching them the skills needed to be good at a sport. Instead, he recognizes how being a coach also carries an extra responsibility of being a father figure to his students, passing on the life values one can learn from sports to his students just as he does with his own kids. “Lahat ng students namin, ang tingin sa amin is parang kanilang second father. For us coaches, hindi lang naman ’yung sport talaga ’yung tinuturo namin. We also instill ’yung values na natutunan namin nung kami ’yung nasa kalagayan nila. So kami, as coaches, tinitingnan namin ’yung mga students na parang mga anak namin talaga. We also thank the parents din na pinagkatiwalaan kami to teach their kids,” said Lizardo. From being the “Flying Prince of Kick” in his youth to now being a coach and a father, Lizardo continues to serve as a role model for a younger generation of athletes, including his kids. As both a dad and a coach, he remains committed to inspiring them through sports and the values that come with it, specifically discipline, respect, teamwork and leadership—the very same values that he says helped him be where he is now. “Ito ’yung mga values na natutunan ko during my

athlete days na nadadala ko hanggang ngayon na nagkucoach na ako, and I want to share these values also to my students,” he added. While fathers spending more time at home has led to increased social time with their kids, active paternal involvement has been trending for many years as parenting roles are continuously evolving, and it is important for dads to consistently play an active role in their child’s growth and development sa it offers another level of quality time. According to Prof. Paul Ramchandani, playtime with dad has a strong link to children being better learners and forming friendships easier, as well as developing less anxiety and behavioral problems. Dads being more physically present also exposes children to a different style of parenting that can help them in managing different kinds of relationships in the future. “To my fellow dads, this is my No. 1 advice: Let’s be good role models to our kids. Dapat mag-start sa atin ang pagiging physically active, at huwag tayong susuko, isipin natin bakit natin ginagawa ang mga ginagawa natin,” Lizardo concluded. ■

MAKING HEALTH AND WELLNESS ACCESSIBLE IN a perfect world, people would eat six servings of fruits and vegetables everyday, their diet would not include red and/or processed meat, and they’d exercise regularly. But the realities of our lives do not make it possible for us to do all that, and we do need to supplement our diet with vitamins. Taking vitamins not only gives us energy to help us get through the day, it also helps boost the immune system and improve our memory and mood. Even during quarantines and lockdowns, Watsons has given Filipinos access to vitamins, supplements, OTC medications and personal products through its stores nationwide and its online channels (www. watsons.com.ph). Available at Watsons are some of the best and most premium vitamins, supplements and personal care products. Here are some of the customer favorites: Conzace Softgel Capsules are formulated with Zinc, Vitamins A, C and E to help boost immunity and improve the condition of hair and skin. Those who have difficulty taking capsules and tablets can go for Watsons Vitamin C + Zinc + Vitamin D Effervescent Tablets. Meanwhile, Berocca is an effervescent vitamin tablet with Magnesium, Zinc, Calcium, Vitamin C and all eight B vitamins to help release energy from food, reduce tiredness and fatigue, and support physical and mental stamina. Magnesium supports the immune system and helps regulate blood pressure levels. For older people, Essentiale Forte provides nutritional support in the management of damaged liver due to chronic liver disease, liver cirrhosis, fatty liver and other causes. Watsons B Complex 2500mg per Effervescent Tablet, on the other hand, supports nerve health and helps relieve muscle pain and loss of nerve reflexes. B vitamins are important for our general well-being.

Propan TLC for kids which combines vitamins to help in overall growth and wellbeing. It boosts the child’s appetite and energy and has Chlorella Growth Factor to enhance growth. Lola Remedios is an allnatural food supplement syrup that provides quick relief for itchy throat as well as the overall feeling of heaviness. There are more smart health choices to be had, and all have been made even more accessible. Because as this pandemic has underscored, we all need to look after our health.

WALKING TOGETHER WITH BATA AND CHILD HAUS Bata Philippines donated milk to indigent children with cancer at the Center for Health Improvement and Life Development (CHILD) Haus as part of its “Let’s Walk Together” campaign. It pledged P50 for every pair worth P999 and above on Friday sales of August to September 2020. In photo are Jeanette Cu of CHILD Haus and the children receiving the donation from Juris Soliman of SM Foundation and Arlyn Guanlao of Bata Philippines.

COACH Japoy Lizardo with wife Janice and kids Jace and Jevi in their taekwondo gear.

B6 Thursday, July 1, 2021

Puregold among FT High-Growth Companies in AsPac

Simplify life through technology: Doing more, worrying less with CNX for Home

IMPLIFY the life you envision and truly live with comfort and convenience with CNX for Home, the leader in smart home solutions. CNX for Home makes smart living possible through offering products, platform and integrations that give homeowners greater control, connection, and security. Now you can keep your home worry-free and your family safe. “For us at CNX, we envision every home to be designed to make life easier and more comfortable. Through our systems and products, we aim to reduce the stresses of daily life by giving you greater control and confidence to enjoy a better quality of living,” shares Flip Ruby, Head of CNX, and VP of Cortex Technologies. CNX for Home offers a wide catalogue of products for the household, from safety sensors to security cameras and complete IOT-based solutions that integrate all your smart devices and appliances. “We are powered by creativity and innovation, and we continually think of ways to help the modern Filipino homeowner. From our products to platform, we designed and built it to fit our Filipino lifestyle,” shares Ruby. “When we talk about smart living today, we aim for greater convenience for our clients and work towards the further streamlining of tasks through the use of technology. Watch over your home, check on your family, and secure your property with just a few taps on your computer or mobile in the most affordable prices to the Filipino homeowner.” Beyond mere convenience, CNX for Home aims to elevate the quality of life of

every Filipino through its smart products and services. “If there’s anything that the pandemic has taught us, it is that family is everything, time is limited, and our energies should be used on the things that matter to us,” adds Ruby. “Thus, when you look at our catalogue of products and services, all of these work together to keep you and your family safe. They help free up your time by streamlining tasks and give you greater confidence and security, allowing you to focus. When you and your family are taken care of, you are able to do more!” For enhanced home security, CNX offers IP cameras that help you conveniently monitor your kids and spaces with an easy click on the app. If you’re working at home, you can save time and energy by upgrading and controlling all your appliances remotely through the use of wi-fi sockets and mini-hubs. For the safety of your household, you can now build a stronger line of defense with the use of an integrated system of

emergency buttons, motion sensors, smoke sensors, and door and window sensors from CNX for Home. “The great thing about CNX and our products is that we fit and complement any and every type of Filipino home and lifestyle. Whether you’re living in a condo, a family compound, or even out on a farm, we can customize smart systems just for you, and we can even recommend products based on your needs and current floor plan. And for your greater convenience and easy set-up, we have flexible bundles that are exceptionally affordable,” adds Ruby. With CNX for Home bundles, even selecting what you need we’ve made simpler, so you can now watch over your home and family using the latest and most advanced security and safety devices. Smartify your appliances and integrate them into one smart home system for a better deal. For inquiries, email flip.ruby@cortex. ph or visit www.cnxhome.ph for more information.

PLDT, SMART support OVP vaccine drive for trike, pedicab drivers, and delivery riders in Manila

PRESENT during the turnover are, from left: Smart Communications AVP for Regional Customer Development – NCR Clark Macabebe, Manila Mayor Francisco ‘Isko Moreno’ Domagoso, Vice President Leni Robredo, and Smart Communications AVP for Community Relations Stephanie Orlino.

LDT and its wireless arm Smart Communications, Inc. (Smart) are providing connectivity support to the Office of the Vice President’s drive-thru vaccination site in Harbour Square, Manila. PLDT and Smart turned over Smart Bro Pocket Wifi and PLDT Prepaid Home WiFi for use by frontliners and volunteers. “This is our way of helping ensure that our trike and pedicab drivers and riders-our economic frontliners--have access to vaccines. We thank the City of Manila and our partners like PLDT and Smart for working with us in this project,” Vice President Leni Robredo said. PLDT and Smart also previously rolled out fast and free Smart WiFi connectivity in isolation sites set-up by the OVP in Malabon City. “Connectivity is a key component in our country's COVID-19 response. We are always ready to work with our government to ensure that vaccination sites and other COVID-19 facilities have access to fast and reliable connectivity, and we take this mission to heart,” said PLDT Inc and Smart Communications President and CEO Alfredo S. Panlilio. Smart has also turned over five Schoolin-a-Bag units to the OVP, in support of its Community Learning Hubs, where students can get free access to computers, gadgets, equipment, and the internet, as well as tutors, to ensure that no learner is left behind, especially during the crisis. The School-in-a-Bag is designed to provide access

to technology, connectivity, content, and a disaster-resilient pedagogy even for schools in remote areas without electricity. Each water-resistant backpack carries a laptop and pocket WiFi for the teacher and 10 tablets for the students, all pre-loaded with interactive, multimedia content accessible even if offline. Through various initiatives implemented with PLDT and with the support of external organizations, Smart deployed 86 School-in-a-Bag packages in 2020 alone. Since its launch in 2016, around 300 bags have been deployed, benefiting over 83,000 students and more than 4,000 teachers in last-mile communities. Jane J. Basas, SVP and Head of Consumer Wireless Business at Smart, underscored the importance of technology in helping create a better world. “We have always been at the forefront of using our cutting-edge technology to create a better future for everyone. This is the driving force that has kept us going. It has always been in our DNA to serve and improve the lives of Filipino people—not just our customers,” she said. “Part of this is our support for our advocacy programs, such as School-in-ABag, through which we are helping students continue learning despite the challenges of the pandemic.”

Support for gov't COVID response

THIS initiative is part of PLDT and Smart's ongoing support for the government's nationwide COVID-19 response, which also

includes the roll-out of fiber-powered WiFi connectivity to government-run quarantine, swabbing, isolation sites, vaccination sites, and other COVID-19 facilities. Since last year, PLDT and Smart have been providing connectivity and communications support to frontline agencies and their personnel and to nongovernmental organizations in different parts of the country, to help frontliners and patients stay connected despite the challenges of the pandemic. These efforts are aligned with Smart's thrust in its “Live Smarter for a Better World” campaign, which highlights Smart's long-running community partnership programs, enabling “personal revolutions” that spark lasting positive change through connectivity and CSR initiatives.

Fastest mobile network

PLDT Prepaid Home WiFi and Smart Bro Pocket Wifi are powered by Smart LTE, the fastest mobile network in the country according to third-party analytics firms. To date, Smart’s mobile network covers 96% of the Philippine population from Batanes to Tawi-Tawi. Ookla, the global leader in internet testing and analysis, named Smart as the country’s fastest mobile data network in the second half of 2020, and has also cited Smart as the country’s fastest mobile data network for three years in a row now. On the other hand, Smart also recently scored a rare sweep in the April 2021 Philippines Mobile Network Experience Awards by independent analytics firm Opensignal*, beating the competition across all metrics in three essential aspects of service: Coverage (4G Coverage Experience, 4G Availability), Speed (Download and Upload Speed) and Experience (Games, Video and Voice App). These efforts are also part of the company’s commitment to helping the Philippines attain the United Nations’ 17 Sustainable Development Goals, including SDG #4: Quality Education and SDG #9: Industry, Innovation, and Infrastructure.

UBLICLY listed Puregold Price Club, Inc. has been recognized by London-based business publication Financial Times (FT) in its latest annual ranking of 500 HighGrowth Companies in the Asia-Pacific region. This year’s rankings, compiled in partnership with FT sister publication Nikkei Asia and research provider Statista, lists businesses from the region’s most developed markets, according to their pre-pandemic compound annual growth rate (CAGR) in revenue, between 2016 and 2019. “This latest annual FT ranking of 500 of the region’s high-growth companies comes at a time of peak risk,” the Financial Times said. The rankings “show how these businesses have fared over the past year, but they do identify those that were in a position of strength coming into the crisis.” In its survey results, the Financial Times said Puregold recorded an absolute growth rate of 37.2 percent from 2016 to 2019, which put the retailer at number 483 and one of only 20 Philippine companies in the list. The growth rate translates to a compounded annual growth rate (CAGR) of 11.1 percent, heading into the year 2020. Despite the onset of the coronavirus pandemic, Puregold was able to sustain this growth and recorded an 18.9% increase in consolidated net income, improving to P8.05 billion in 2020 from P6.77 billion in 2019. It continued this run in the first quarter of

2021, with net income growing by 14.6% to P2.02 billion from P1.76 billion year-on-year despite posting a decline in net sales. “We are humbled to be considered among the few Filipino companies in this Top 500 list,” said Puregold President Ferdinand Vincent P. Co. “But there is still a lot to do. We are committed to driving and sustaining growth in 2021 and beyond through store expansions and innovations in grocery retailing.” “Puregold’s innovations and investments in new systems will continue to drive the organization forward,” said Co. The company continues to support and expand the reach of its online and delivery services as well as the Puregold mobile app, which allows shoppers to purchase products conveniently through their smart phones. The country’s leading grocery operator aims to pursue its expansion plans this year as it moves closer to its goal of 500 stores nationwide. In its recent annual stockholders meeting, the company bared that it would open at least 30 new stores nationwide. As of end 2020, Puregold had a total of 469 stores nationwide, composed of 403 Puregold stores, 20 S&R membership shopping warehouses, and 46 S&R New York Style quick-service restaurants.

ENABLING THE PEOPLE TO FEEL THE DOLE. Labor Secretary Silvestre Bello III, and Barangay San Isidro, Montalban, Rizal Chairperson Karen Mae Hernandez look on Art Arevalo, one of the beneficiaries of the Nego[syo]-kart worth P30,000.00, as the latter tries on riding the cart, that is under the DOLE Integrated Livelihood Program, during the ceremonies at the San Jose Elementary School, Brgy. San Jose, Montalban, Rizal on June 25. The CAMP (COVID-19 Adjustment Measures Program), TUPAD (Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers) payout, and awarding of Safety Seal certificates to establishments who have complied with the minimum public health standards set by the government were also held during the event. (Photo by REGIE D. MASON, DOLE-IPS)

SSS membership tally now more than 40 million, advises use of digital systems to serve more members

HE Social Security System (SSS) announced that there are 40.49 million covered members as of April 2021, allowing it to expand social security protection services to more individuals, particularly in times of contingencies. About 76 percent or 30.77 million are employed members, while 5.03 million are voluntary paying members, 3.35 million are self-employed members, and 1.34 million are Overseas Filipino Worker (OFW) members. “Our rapidly increasing membership base signifies that SSS is a basic necessity for working Filipinos. They have realized that social security protection is an investment and insurance, rather than a financial burden. Once covered by SSS, members can avail of benefits and loan privileges, thereby providing them adequate safety nets. This benefit even extends to their legal beneficiaries who can receive the SSS benefits of a deceased member,” SSS President and Chief Executive Officer Aurora C. Ignacio said. Actively paying members are allowed to claim benefits for sickness, maternity, disability, unemployment, retirement, death, and funeral. They are also qualified to avail of various loan program offerings for salary, calamity, educational, and social development, while retiree pensioners can apply for a pension loan. To become an SSS member, an applicant must obtain a Social Security (SS) Number through the My.SSS Portal on the website www.sss.gov.ph or through the SSS Mobile App. For an SS number to be permanent and to avail of various SSS benefits and privileges, new members are required to upload supporting documents like the PSAcertified birth certificate, marriage contract (if married), or baptismal certificate (if with children) in the online SS number application in the SSS Website.

Registrants who recently applied for an SS number online will be given a link to activate their My.SSS account registration under the 2-in-1 SS number online application. “The convenience and comfort brought by our online and mobile platforms are the main reasons non-members apply for SSS coverage. Aside from obtaining an SS number, members and employers may skip long queues in branches as the majority of services such as benefit and loan applications, contribution payments, Payment Reference Number (PRN) generation, updating of membership information, as well as viewing of contribution, loan records, and loan and benefit claim status can now be done via My.SSS and Mobile App,” added Ignacio. The SSS chief also reminded self-employed, voluntary, and OFW members to pay their SSS contributions regularly to ensure eligibility to benefits and loan privileges. With the current online platforms in place, rest assured that we will continue to expand and improve our services for the benefit of our members. We added maternity benefit application (MBA) and maternity benefit reimbursement application (MBRA) as part of the portfolio of electronic services under the My.SSS Portal starting May 31, 2021, while the mandatory submission will be on September 1, 2021,” Ignacio concluded.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Who gets the last ventilator? It’s a triage committee’s call By Rory Visco

Contributor

he past few weeks have seen a bit of a decline in Covid-19 cases but still, this is not the time to be complacent, according to public health experts. ICU utilization rate in some hospitals continue to be high, and the allocation of finite resources remain a challenge. There is an ongoing surge of Covid-19 cases in several provinces and the concern is whether smaller hospitals in the countryside can cope with the scarcity of resources. In this pandemic, no country, regardless of economic status, was spared in terms of shortages of human, financial, material and infrastructure resources. How will the family’s loved one be taken care of in such a situation, especially when it comes to the allocation of vital resources like a mechanical ventilator? What if there is a shortage? What if there is only one ventilator and more than two patients need it badly? Who gets to use it first? How will this important decision be made and on what basis? Who gets to decide? Are there ethical guidelines available when dealing with this issue?

still quite low. She said the situation in hospitals is still at crisis level since there is insufficient staff, supplies are lacking, especially the life-saving resources, and the standard of care is not at optimum level. “What is happening in this pandemic is not new. Experts have already studied this before but there are peculiarities in the Covid-19 pandemic that made things worse compared to other pandemics,” Dr. Fernandez said. Last year, a critical care expert from the Philippine Heart Center did a national count on available ventilators all over the country. The ventilators available that time was 1,572. For conventional needs, that number is in excess, in a contingency situation, it was just enough. However, during a crisis where hospitals are overwhelmed, that number is not enough, especially with the need for HFNCs or the High Flow Nasal Cannula.

So, what are ventilators?

Why focus on ventilators in this pandemic?

Mechanical ventilators help provide air to the lungs of a patient who experiences difficulty in breathing, the most common problem of Covid-19 patients. The disease usually infects the respiratory tract and causes the inflammation of the lungs, thus making it hard to breathe. The problem is, a mechanical ventilator, a life-saving intervention device, usually costs P500,000 to P1 million. This price is too stiff, particularly for smaller hospitals in the countryside. Even in the National Capital Region, the availability of ventilators continues to be a challenge. Last week, the University of the Philippines, in partnership with UP Manila National Institutes of Health (NIH) National Telehealth Center, and in cooperation with UP Philippine General Hospital, held another webinar entitled “Who Gets the Last Ventilator?” According to Dr. Leonora Fernandez, Chief of the Division of Pulmonary Medicine at the UP Philippine General Hospital, while there is a downward trend in Covid-19 cases in the NCR, the vaccination rate is

So why are ventilators the focus of resource allocation in this pandemic? Because it is a life-saving device that cannot be easily shared. “It’s either you have it or you don’t. If you don’t have it in a couple of minutes, the patient will die. If you remove it to transfer to another patient, the patient where it was removed from will die.” And who makes the final decision? In a poll conducted during the webinar, many chose the doctor in charge, and that is exactly what’s happening in the frontline. However, being alone in this task creates moral distress, and an on-the-spot decision may lead to undesirable outcomes or legal/ ethical accusations.

Ethics guidelines on Covid-19 crisis-level hospital care

The UP Manila Covid-19 Ethics Study Group came up with guidelines and shared it with the World Health Organization and the European Respiratory Society. It has 30 guideline statements broken down into 11 sections, and it has a part there on “ICU al-

location” of resources. The dilemma that frontliners confront on a daily basis throughout the pandemic is, again, the allocation of scarce resources. “Traditionally, we thought we could render optimum care to every patient but with the pandemic, we had to be on a crisis standard of care, which is to ‘Do the Greatest Good for the Greatest Number’ or Save the Most Lives with available scarce resources. We try to be equitable but that would mean we have to judge the value of one life over another.” But would that be fair? And who should be prioritized? Dr. Fernandez said when going the utilitarian (for the good of all) way, discrimination may happen and one sector of society may suffer. If it is egalitarian (equal access over maximum benefit) using random or “lottery” type of allocation, though it avoids bias, it is not palatable to society, even to Dr. Fernandez herself. If it is libertarian (rights based), it means doing it pre-pandemic: “whom we think would need it, then we give it, but that would not be an efficient way of allocating scarce resources.”

A different animal

The Covid-19 pandemic is unique compared to others because it is rapidly evolving, according to Dr. Fernandez. There is still no good data on the most effective treatment right now, and the shortage of resources in regions are very different per region. “Most experts say we cannot use just one ethical value. There has to be a collusion of multiple ethical values, and contextualize it based on what’s happening locally, and monitoring is important because the pandemic is rapidly evolving and fluctuating and therefore it can change allocation procedures.” The goals, however, remain the same: “we have to be as effective and efficient as possible, transparent, equitable, and prioritize those in most need at any given moment.” And to remove the doctor from the moral distress of decision-making in terms of rationing of resources, a “Triage” committee can take over of rationing decisions and communicate these decisions to patients’ relatives. “The objectivity of the Triage Committee who knows everything would be better.” On this, Dr. Fernandez said we can count on the Filipinos’ bayanihan spirit and teamwork, “that we can all weather this storm and still come up with an efficient way of allocating resources as equitably and efficiently as possible.”

The Medical City pushes art as medicine with exhibit

hile today’s medicine is guided by science and technology, The Medical City realizes the positive impact of visual arts on health and wellness management. Thus, its latest attraction at the Wellness and Aesthetics Institute, The Art of Healing. It is art shaped by care and compassion, created out of the partnership between patients and our doctors, nurses, and staff. It is art that knows no boundaries, as we tend to the health continuum, particularly those who want to avoid the ravages of ill health and seek to maintain their peak physical condition. Dr. Christian Flores, director of The Medical City’s Wellness and Aesthetics Institute, explains how the facility helps people, especially now that the idea of art as medicine is drawing increasing interest in the medical community. “Whenever you stop by and visit our Wellness Center, it’s a full experience. It is designed to cater to the needs of everyone for better health and total wellness. It makes healing feel good, positive and uplifting.” In keeping with our quest to heal not just individuals, but communities as well, The Medical City brings you The Art of Healing— an art exhibit that aims to raise funds for indigent patients under the Akbay Ginhawa Foundation, Inc., and the community of artists in Baguio City through noted sculptor Bumbo Villanueva. Akbay Ginhawa aims to provide material and psychosocial support to indigent patients through The Medical City’s Di-

vine Mercy charity program. It also seeks to support the hospital’s public health-directed clinical programs and help link The Medical City with communities in need of health services.

Baguio artists

This is why the hospital’s Wellness and Aesthetics Institute team wasted no time going to Baguio to collect the participating artists’ works. The number of those who joined the exhibit jumped from the planned 15 to 23. Their varied sculptures and paintings, approached in traditional and modern ways, are mostly inspired by the rich culture of the Cordillera. The exhibit not only showcases local talent. It also helps the Baguio artist community, composed of resident artists of TamAwan Village and other artists. They have been disproportionately affected by the pandemic, given the numerous lockdowns which prevented people from appreciating—and purchasing—their works of art. But artistry is one thing the lockdown can’t put down. Villanueva says creativity is still the art community’s main tool in addressing the problem. The problem has many sides to it. And well-being is one of them. This is where art comes in.

Different kind of therapy

Villanueva has seen how art helped the differently-abled, clinically depressed, children in conflict with the law, theologians, cancer patients, doctors and others.

“Part of their therapy is making them open up and channel ‘unfortunate’ experiences through art. What seems impossible to express verbally or in writing can be conveyed through visual arts. We are praying that the talents shown in this endeavor will help heal the viewing public, especially patients and doctors of Medical City plus the artists as well, for the glory of the greatest Artist—our Creator.” Thus, by bringing their works down from the mountains of Benguet into the halls of The Medical City, we hope to start the Healing of Art, as we lend a helping hand to these talented artists. Each work reflects a culture unique to artists living in our mountainous north, combining the indigenous people’s proud traditions with today’s diverse influences. Through this venue here at The Medical City, you will experience art that heals the body as well as the soul. As Dr. Irene Quinio, Akbay Ginhawa executive director says, “This is why we are happy and proud to feature these great artists and their art as addition to the healing environment of The Medical City’s Wellness and Aesthetics Center. We want to redefine your wellness experience through art. We want to turn your regular checkup into something more, something beautiful for the benefit of society.” The Art of Healing, exhibit opened on last June 17 at the Wellness and Aesthetics Institute, 6F Podium Tower, The Medical City in Ortigas, Pasig City. For details, call Wellness and Aesthetics Institute at 8988-1000 ext. 6579 and 6386.

Thursday, July 1, 2021 B7

Vaccine hesitancy triggered by fake news, says DOH exec By Claudeth Mocon-Ciriaco

he Department of Health (DOH) is aware that due to “fake news” the problem of vaccine hesitancy emerged. In a webinar Dr. Beverly Ho, Director of Health Promotion Bureau of the DOH, debunked some of the most common myths and misinformation about the vaccine. “Covid -19 is real,” Dr. Ho stressed as she cited that over 23,000 people have succumbed to the disease during the Philippines Graphic webinar organized in partnership with the PHAPCares Foundation, the Department of Health and the BusinessMirror, titled: “Vaccine Hesitancy: Epekto sa Buhay, Epekto sa Bayan.”

Vaccine misinformation Dr. Ho said that none of the vaccines can also cause Covid-19. “None of the Covid vaccines contain the live virus, the available vaccines in the entire world are inactivated purely... dead, parts of its ‘vector’ containing the genetic material, and finally the genetic material which are your mRNA so you really don’t have to worry about this,” Dr. Ho said adding that the mRNA “cannot alter your DNA.” She added that it is not also logical that vaccines can cause a person to test positive in the RT-PCR. “Vaccines have not caused any deaths in the country,” she said and warned that thrombotic event is more possible to smokers. She added that the vaccines have not been linked to infertility or miscarriage. “Vaccines also do not contain RFID,” she said. She also said that the DOH has so far only received reports that only less than 2 percent have reactions to the vaccines. According to the DOH, the possible side effects of a vaccine include pain, redness, itchiness or swelling at the injection site (which may last a few hours); fever; feeling of weakness or fatigue; headache; dizziness; diarrhea; or nausea. Consult the nearest health-care professional if you

experience any of these. Dr. Ho encouraged those who have not received the vaccine yet to get the jab, stressing that Covid-19 vaccines that are granted with Emergency Use Authorization by the Food and Drug Administration are considered safe and effective based on the available evidence to date. “No one is safe until everyone is safe,” Dr. Ho added.

Vaccine rollout For his part, Dr. Teodoro Herbosa, a special adviser to the National Task Force Against Covid-19, said that the successful implementation of our vaccination program will be the “key” to revive the economy, “bringing back a greater sense of normalcy to our people, and building back a better Philippines.” Dr. Herbosa was tasked to read the speech of Secretary Carlito Galvez Jr., the Chief Implementer of the National Task Force Against Covid-19 and Vaccine Czar, who had to beg off from the webinar due to a previous engagement. “Our main goal is to inoculate more Filipinos at a faster rate and ensure the protection of the most vulnerable individuals. Hence, we call on each and everyone of you to be among our vaccine advocates not just in your workplaces, but most especially in your homes,” Dr. Herbosa said. He cited that in July, Astrazeneca will deliver the 1.17 million doses purchased by Filipino companies. He added that the government is also expecting the delivery of 4.5 million doses from Sinovac, 1 million doses of Moderna, and 1 million doses of Sputnik V. “Starting August, we are expecting 15 to 25 million doses to arrive monthly from the various manufacturers. These doses include both government and private sector-procured, as well as those coming from the Covax facility,” he said. “Let us encourage every family member—tatay, nanay, lolo, lola, kuya, at ate— to get the jab. The vaccine will provide all of us with an added protection aside from our strict adherence to minimum health standards— mask, hugas at iwas,” he concluded.

Adopt telemedicine to improve health-care delivery, hospitals told

oting the decline in the number of patients who visit hospitals and the emergency departments due to the fear of Covid-19 infection, the former president of the Philippine Medical Association (PMA) has called on hospitals to adopt digital innovations to improve the delivery of health-care services. “The health-care industry can devise a way to enable doctors to attend to their patients, without the risks of exposure [to Covid-19], while patients are provided quality treatment,” said Dr. Bu Castro, a pathologist and medico-legal expert, during the Globe Business Webinar titled-Own Progress through Collaboration: “ Innovating Healthcare with Digital Technologies,” held Saturday. There, Dr. Castro pointed out that according to the US Centers for Disease Control and Prevention (CDC) there is a more than 40 percent decline in the number of patients who visit hospitals, including visits to emergency departments due to the fear of Covid-19 infection. Castro said that even doctors are scared of patients who contracted the disease. “Doctors would rather not see their patients face-to-face; doctors would rather see patients through other means,” he noted. He lamented that the Philippines has already lost more than 40 doctors to Covid 19 because of exposure to patients who were Covid-19 positive. Castro said telemedicine, a form of diagnosis and treatment of patients through telecommunications “may not be perfect, but is the best in the time of a pandemic.”

Health-care innovations

John Duenas, CEO of HyBrain, the digital provider of Hospital Information Systems (HIS), meanwhile said, digital innovations in the health-care industry can provide solutions to the critical problems

particularly on the doctor to patient ratio. Duenas said as of April 2020, there were 10 doctors to 10,000 population in the National Capital Region, while there were 0.8 doctors to 10,000 population in the Bangsamoro Autonomous Region in Muslim Mindanao. “Digitizing health information lays the foundation of the digital health model in the emerging markets,” said Duenas. He added,” For best outcomes, other health-care innovations such as telemedicine, mHealth applications, and e-prescriptions will be built around the digitized health information.”

Secured platform

Globe Business offers a modular and digital system for hospitals that automates administrative, financial, and logistical processes through a secured platform, said Manelle Cousart-Suyat, Industry Marketing Head for Healthcare of Globe Business. “A lot of realizations from our healthcare partners dwell on digitization as this can help alleviate stress on the manual process and give them more time to handle cases without having to worry about the administrative aspect,” said Suyat. Globe Business has partnered with the Bank of Philippine Islands (BPI) through the GMB TechLoans Loan Program to offer hospitals an exclusive term loan facility to purchase ICT Solutions. With this, they can enjoy Demo-to-Purchase programs at interest rates lower than industry average of 29 percent for new-tobank clients, no collateral requirements for loans up to P5 million, and more. This loan program aims to help hospitals adapt to the changing times through quality infrastructure and flexible loan solutions so they can in turn deliver better health-care services. Claudeth Mocon-Ciriaco

Sports

Para swimmer Bejino qualifies for Tokyo Games

BusinessMirror

By Josef Ramos

ARY BEJINO became the fifth para athlete after Rio 2016 veteran Ernie Gawilan and three others to qualify for the Paralympic Games Tokyo is hosting from August 24 to September 5. Bejino qualified for the Games after the World Para Swimming granted the bipartite application of Philippine para swimming coach Tony Ong on Tuesday night. Bipartite slots are awarded to individual athletes, not to the national paralympic committee. Bipartite decisions by International Paralympic Committee and the international federations are not subject to any protests or appeals.

| Thursday, July 1, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

“It’s great that I was given the chance to swim in the Paralympics,” Bejino told BusinessMirror on Wednesday. “It’s my first time in the Paralympics so I am very happy.” The 25-year-old swimmer from Malilipot in Albay will compete in the 400-meter freestyle, 50m butterfly, 200m individual medley and 100m backstroke of the S6 classification. Gawilan, also a swimmer, is in the S7 class. In para games, S stands for swimming while the number represents the athlete’s degree of disability. “This is the first time that we’ll be having two para swimmers in the Paralympics,” Ong said. “We’re really rejoicing about it, and we’re hoping their

performance will be successful.” Bejino bagged the men’s S6 200m individual medley silver and 100m freestyle and backstoke bronze medals in the Jakarta 2018 Asian Para Games where Gawilan emerged as the most successful Filipino athlete with three gold and two silver medals. Philippine Paralympic Committee President Michael Barredo congratulated Bejino for making it to the Paralympics. “Hopefully Team Philippines can garner a few more to increase our chances of getting medals at the Games,” said Barredo, who thanked the Philippine Sports Commission for its all out support to the para athletes.

SAD STORY ON LONDON GRASS AN injured Serena Williams is out of Wimbledon. AP

GARY BEJINO is the fifth Filipino to qualify for the Tokyo Para Games in August.

CAVENDISH: I’M BACK! F

OUGERES, France—This time, they were happy tears. In October last year, Mark Cavendish posted an insignificant 74th place at the Belgian classic Gent-Wevelgem. Depressed and dejected, with his contract with the Bahrain McLaren team almost over, the sprinter from the Isle of Man suggested in an emotional post-race interview it could well have been his final race. On Tuesday at the Tour de France, the tears of sadness made way for those of happiness after the “Manx Missile” posted a 31st stage win at cycling’s biggest event. “Just being here is special enough. I didn’t think I would ever get to come back to this race,” said Cavendish, the greatest sprinter in the race’s history. The 36-year-old veteran sat on the road and cried after his triumph in the fourth stage. He was congratulated by teammates, who worked hard in the stage finale to put Cavendish in an excellent position for the sprint. “You just see what a great team this is. You’ve got the green jersey, the world champion Julian Alaphilippe coming to do the final pull just to try to catch the breakaway, putting everything in,” Cavendish said. “So many people didn’t believe in me but these guys do.” After all the doubts about his future, Cavendish secured a new contract with his former Deceuninck-Quick Step team. He convinced manager Patrick Lefevere he could perform at the top level again but

he was not expected to ride at the Tour and did not train specifically for the three-week race. He received a last-minute call-up earlier this month, as a replacement for Sam Bennett, the best sprinter of last year’s Tour. “Three weeks ago I would not have imagined this,” said Cavendish, who is back at the Tour for the first time since 2018. Lefevere’s bet paid off in the town of Fougeres, where Cavendish had already won in 2015. With a perfectly timed burst of speed— he reached an average speed of 63 kph in the last 500 meters— Cavendish edged Frenchman Nacer Bouhanni and Jasper Philipsen of Belgium. AP

was about to end because she hurt her right leg when she lost her footing behind a baseline. Moments later, her legs buckled as she tried to change directions to chase a shot by her opponent, 100th-ranked Aliaksandra Sasnovich of Belarus. Williams dropped to her knees, her head down on the grass. She used her racket to help her stand, but only so she could limp to the net to concede—just the second mid-match retirement at any Grand Slam tournament of her career

and first since 1998. “I was heartbroken to have to withdraw today,” Williams said in a statement released by the tournament. “Feeling the extraordinary warmth and support of the crowd today when I walked on—and off— the court,” she said, “meant the world to me.” Said Sasnovich: “She’s a great champion, and it’s (a) sad story.” Roger Federer surely articulated a common sentiment when told by a reporter what happened to Williams. “Oh, my God,” he said. “I can’t believe it.”

MARK CAVENDISH posts 31st Tour de France stage victory. AP

Top villain TESSA JAZMINES | tessa4347@gmail.com

PART OF THE GAME WHAT makes for great theater in the big stage of the National Basketball Association (NBA) playoffs? Pardon my Shakespeare, but it’s a great cast, high drama, riveting plots, unexpected twists, great heroes, and yes, great villains. This NBA Playoffs has all those. Maybe not the tried-and-true playoffs cast led by LeBron James and Steph Curry. But a new exciting cast led by new and resurgent heroes the likes of Chris Paul and Paul George. Or heroes long waiting in the wings and eager to grab the spotlight with the crown on their heads. Enter Giannis Antetokounmpo and Trae Young. High drama? How else would you describe Khris Middleton’s gamewinning shot with less than a second to go that made the Milwaukee Bucks

IMBLEDON, England—Serena Williams bit her upper lip. She held her left hand over her mouth and tried to hold back tears while getting ready to serve. It was the first set of her firstround match Tuesday at Wimbledon, and Williams knew this stay at a tournament where she has won seven of her 23 Grand Slam singles titles

beat the Heat in Game One of the first round of the playoffs? Riveting plots? Unexpected twists? You can take the twists literally when we think of how sprained ankles, pulled hamstrings, bone bruises or hyperextended knee injuries can rewrite the scripts and change the paths of teams already mind-rehearsing their victory parades. The heroes? One steps up every minute. When Kawhi Leonard went down, PG13 (Paul George) showed his true rating. When Chris Paul went down, Deandre Ayton went up. When Trae Young sat out Game 4 because of a bone bruise on his foot, Bogdan Bogdanovich sparkled with five assists, four steals, three rebounds and 20 points largely

derived from six 3-pointers. Now that Giannis looks like he’s going to miss Game Five, Middleton and Lou Williams are going to raise the MLK flag, Iwo Jima style. But more than these scintillating scenes that define this 20202021 playoffs, what has provided a lot of spark and elicited raw, visceral reactions from the crowd are the villainsso-called, at least. These are the guys that everybody loves to hate. They get hissed at, booed, taunted by the home crowd. But they couldn’t care less. In fact, they seem to savor it, revel in it. They’ve accepted—and perfected their roles with a flourish. Who’s the guy that seems to be cut out for the part? Trae Young, that 6-foot-2 Atlanta Hawks guard formerly from Oklahoma U that has given the Playoffs some showbiz sizzle. What has made the guy they call Ice Trae such an object of hate—like a true arch villain—by crowds and, maybe players, of the opposing team? Well, he has always shown a cocky attitude every time he plays. But in this playoffs, he has been

most deserving of the Best Kontrabida Award. Remember how he figured in playoffs news because a New York Knicks fan spat on him at Madison Square Garden in Game 2 of the first round? Young had played with aplomb in Game 1, icing the series opener with a floater in the 0.9 seconds mark. “It got real quiet in here,” he said, after the game, twisting the knife just a bit more. So when they came back for Game 2, this one fan couldn’t stop himself from gifting Trae with lots of DNA in the fourth quarter of another heated game. But did Trae back down? Nah. For one, he was matter of fact about it. He didn’t feel the spit, he said, but he saw it on video.. “I have no problem with the fans and what they’ve been saying and things like that, it’s a part of it…I love it. I’m not mad at fans who chant things or whatever..But for spitting and things like that, that’s uncalled for in any arena or any environment,” he told ESPN. Looks like Trae got the last word anyway. And he made sure

the Knicks fans wouldn’t forget it. In Game 5 as the Hawks closed out the Knicks and sent them fishing, Ice Trae bowed cavalierly to the crowd. Whatever for? “I know there are a lot of shows in this city…and I know what they do when the show is over,” he said matter-of-factly, his way of nixing the Knicks. Now that the Hawks are in the second round, disputing the Eastern Conference Finals with the Milwaukee Bucks, Trae hasn’t toned down his cockiness one bit. In Game One, Trae did a shimmy before drilling a 3-pointer over Bucks forward Bobby Portis. He did it again in Game Two. Trae Young’s proclivity in triggering the crowd seems to be legend by now. But maybe that’s just the way he is. Typical Trae moves are standing aside to watch the beauty of his shot, with a little shake of the head after release; shushing the crowd when they’re too loud, or letting go of glad-happy quips after a won game to rub just a little salt in. But that’s because he’s been living with skepticism and pooh-poohing all his life. Even back in high school, the future NBA superstar

Williams was serving while leading 3-1 at Centre Court—where the retractable roof was shut because of rain that forced the postponement of two dozen matches until Wednesday—when her left shoe seemed to lose its traction while she was hitting a forehand. Williams winced and stepped gingerly between points, clearly troubled. After dropping that game, she asked to visit with a trainer and took a medical timeout. She tried to continue playing. The crowd tried to offer support and encouragement. Eventually, the 39-year-old American couldn’t continue. The chair umpire climbed down to check on her, and they walked together up to the net; the score was 3-all, 15-30 when Williams stopped. Williams, who began the match with her right thigh heavily taped, raised her racket with right arm and put her left palm on her chest. Then she waved to the spectators. Officially, this goes in the books as only the second first-round Grand Slam exit of Williams’s career. The other came at the 2012 French Open, where she was beaten by Virginie Razzano. Shortly after that, Williams teamed up with coach Patrick Mouratoglou and began accumulating majors to eclipse Steffi Graf’s professional era record of 22 and move within one of Margaret Court’s all-era mark of 24. “All the best for her,” said Sasnovich, who reached the fourth round at Wimbledon in 2018 for her best Grand Slam result. Williams’s departure makes a wide-open women’s draw even more so. As it was, defending champion Simona Halep and four-time major champ Naomi Osaka withdrew before the tournament started. And so, even as her 40th birthday approaches in September, Williams was among the top contenders. With her best-in-the-game serve and stinging groundstrokes, she had made it to the past four finals when she entered Wimbledon—winning in 2015 and 2016, missing the tournament while pregnant in 2017, then finishing as the runner-up in 2018 and 2019 (it was canceled last year because of the pandemic). AP

was heckled and booed, taunted with jeers of “overrated” every time he stepped up to the foul line. He’s been called too short, or not good enough. He was never considered the top point guard in his class because of his size. He resented it, and to get back, he made it a point to outplay all those who were considered “the best.” He finished the season as the country leader in both points and assists per game, breaking the Big 12 freshman scoring record held by Kevin Durant and Michael Beasley. His villain role is thus not a negative for Trae Young. In fact, he’d feel different if the crowd showed him some fluffy love. Teammate John Collins says “Trae loves to use that negative energy and use it as fuel..Fans who want to keep antagonizing that man, please go right ahead. It’s not gonna bother him…” Collins said. He’s in good company anyway. The cockiest players in the NBA are GOATs and thrive because of it. Michael Jordan, Kobe Bryant, Larry Bird, Steph Curry, LeBron James, make way for Trae.