BusinessMirror July 11, 2022 by BusinessMirror

Informal sector swelling, jobs data suggest ‘Close borders, cut Omicron exposure risk’ By Cai U. Ordinario

@caiordinario By Cai U. Ordinario

T C

@caiordinario

HE latest employment data hints the possible expanLOSING theatcountry’s borders sion of the informal sector is one of the most immediate ascourses qualityof jobs remain unavailable, action the governgroups. mentaccording must taketotolocal prevent the latIn an e-mail to BusinessMirest Covid-19 variant, Omicron, from ror,Philippine former dean of the School of reaching shores, accordIndustrial Relations (SOing toLabor localand economists. LAIR) President Freedom T he newand var iant is of a the threat, Coalition (FDC) Rene e s p efrom c i a l lDebt y w it h t he hol id ay s E. Ofreneo said this is possible given coming up and more foreigners unemployment is declining beingthat a llowed to travel to the but underemployment is on the rise. Philippines, De La Sa lle UniverOfreneo said while the elections sit y economist Mar ia Ella Oplas brought Filipinos opportunities to told BusinessMirror. be employed, many of these jobs The holidays usually bring in were Filipino temporary. This indicates Overseas Workers (OFWs) “inadequate opportuniwho are eager employment” to spend Christmas

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with their loved ones, while foreigners living in temperate regions usually want to relax in tropical countries like the Philippines. This year’s influx of OFWs is expected to be heavier since many of them were unable to come home for the holidays in December 2020. “My recommendation is to protect the borders. Do not allow people with “Duringof thetravel election many Filipinos a history tofever, countries with were able to secure extra jobs because of positive cases to enter,” Oplas said. rich politicians. But most of the jobs are “We should be more restrictive. [We from Debt Coalition haveshort-term.”—Freedom to be] more protective in terms president Rene E. Ofreneo of our measures.” Oplas said that while this will be ties in the Philippines will continue. a setback to some industries, this “The reality is that there a need is a fair measure consideringisthat havehelp a more comprehensive conthisto could prevent placing the cept in ofanother ‘inadequate country strict employment’ lockdown,

n Monday, July 11,29,2022 17 17 No.No.52 276 Monday, November 2021Vol.Vol.

—inadequate in terms of hours of work, inadequate in terms ofno exwhich, she said, the economy can pected compensation or income, longer afford. inadequate terms skills-jobs “It is better in that we doofprotective matching,measures etc. During theget election preventive than exfever, many Filipinos were posed again. We have a lot to able lose,”to secure because of rich Oplas said.extra “We jobs should do it now so politicians. But most of the jobs that we can open just before ChristareIfshort-term,” Ofreneo said. mas. it gets contained, we can open “If unemployment does not init again.” crease, means jobs in the inAteneothis Center for Economic Reformal sector continue to increase. search and Development (ACERD) InformalDirector (jobs are) Ser those that beAssociate Percival long to the category of ‘with jobs’ K. Peña-Reyes said closing the but inadequate,” he added. country’s borders would be effective but should still adhere to the Ibon’s take standards set by the World Health IBON Foundation Inc. also highOrganization (WHO). lighted the problem of increasing What is needed, Peña-Reyes told informality It said this newspaper,inisthe foreconomy. travel restricmany Filipinos continue to “make tions to be put in place swiftly and

do” with whatever work is available, even if these areproactive “unsecure, for government to be in irregular and not decent.” imposing them. By class ofinstances worker, Ibon said,the the Previous when drop inhad the number of wage and country the opportunity to salimary workers is concerning this pose travel restrictions didsince not premeans more informal jobs, said the vent the spread of Covid-19. That was group. mainly because the decision was not The number of wage and salary made immediately, he said. workers fell by 469,000 to 28.2we’re mil“Kung papatay patay [If lion in May 2022 from 28.7 million slow] and we get caught flat-footin April 2022. Declines weretoo mostly ed, [that’s risky] We were reamong those that worked in governactive instead of proactive before. ment or government We should learn from corporations that,” Peña(by 281,000) privatebalancing establishReyes said. “It’sand a delicate ments (by 179,000). act. We need to push testing and Another indication of worsening tracing to be properly informed informality among employed perof our decisions. Blanket/shotgun sons is the growing number of selfapproaches could have dire conseemployed unpaid family workers. quences onand the economy.” See “Informal sector,” See “Omicron,” A2 A2

P25.00 P25.00 nationwide nationwide || 32 sections sections 22 20 pages pages ||

NATL BORROWINGS 5-MOGOVT NG BORROWINGS FOR 10 MOS DIP TO P2.75T AT P924.4B, DOWN 47.6% T By Bernadette D. Nicolas By Bernadette D. Nicolas @BNicolasBM

Omicron risk spurs revival of quarantine rules in PHL

@BNicolasBM

HEnational national government HE government’s borrowed a total of P924.43 gross billion in the first five months borrowings of than a year ago, on of the year,as lower end-October shrank the back of the repayment of its shortby almost 6 percent term loan from the Bangko Sentral ng year-on-year to Pilipinas (BSP). P2.75 trillion.

Latest data from the Bureau of theLatest Treasury showed the governdata from the Bureau of the ment’s gross borrowings from JanuTreasury showed that the governary to gross May borrowings plummetedduring by 47.64 ment’s the percent this year from P1.77 tril10-month period fell by 5.99 percent lion the same period 2021. frominP2.92 trillion a yearinago. Bulk of the gross borrowings in With only two months left for the five-month period was sourced this year, the latest figure is already locally, withtogross equivalent 89.6 domestic percent ofborits rowings reaching P644.8program. billion, P3.07-trillion borrowing aBroken 57.37-percent plunge from borlast down, gross domestic year’s P1.51 trillion. rowings from January to October This at year’s gross domestic borsettled P2.23 trillion, down by

5.08 percent from P2.35 trillion in 2020. The bulk of the amount was sourced from Fixed Rate Treasury Bonds (P1.19 trillion), followed by short-term borrowings from Bangko Sentral ng Pilipinas or BSP (P540 By Jasper Y. Arcalas billion), RetailEmmanuel Treasury Bonds/Pre@jearcalas myo Bonds (P463.3 billion), Retail Onshore Dollar Bonds (P80.84 bilEVEN of 10. That is lion). In the sameout period, there was the number of Filipinos also a net redemption of Treasury who cannot affordbillion. nutriBills amounting to P43.94 tiousdebt food.redemption means Net O vermore 75 debts m i l l repaid ion Ficoml ipithere were nos are unable to purchase pared to the amount borrowed durhealthy food, and ex perts ing the period. warned that the foreign rising food Meanwhile, gross borcosts may make it more also difrowings in the same period ficult for consumers to access contracted by 9.7 percent to P518.7 nutritious food.P574.4 billion. billion from last year’s Filipinos who ThisThe wasnumber raised of through global cannot afford a healthy diet rose bonds (P146.17 billion), program to 75.2 million in 2020 from loans (P139.98 billion), euro-de74.2 million 2019, according nominated bondsin(P121.97 billion), to the State of Food Securityand and a project loan (P86.41 billion),

By Samuel P. Medenilla @sam_medenilla

rowings mostly came from Retail Treasury bonds (P457.8 billion) and Fixed Rate Treasury Bonds (P446.45 billion). However, the amount of gross domestic borrowings was tempered with the net debt redemption of P259.43 billion in Treasury Bills (T-bills). Net debt redemption means there were more debts repaid compared to the amount borrowed during the period. See “Borrowings,” A2

7 IN 10 FILIPINOS CAN’T AFFORD NUTRITIOUS FOOD–SOFI 2022

yen-denominated samurai bonds (P24.19 billion).

PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. CURRENCY WATCH Employees of a money The country will celebrate the 158th birth anniversary of Filipino revolutionary exchange outfit in Pasay City are busy on the weekend hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO of July 9-10,2022, amid reports that the Philippine peso depreciated further against the US dollar, marking its Nutrition in the World 2022 weakest performance in over 16 years. NONIE REYES

NTER NATIONA L concerns over the possible spread of the more infectious Omicron Covid-19 variant prompted the government to reimpose mandatory facility-based quarantine for all arriving passengers in the country. Acting Presidential spokesperson Karlo B. Nograles announced on Sunday that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) suspended the implementation of its Resolution No. 150A (s.2021), effectively imposing stricter protocols for all inbound travelers. To note, IATF Resolution 150A had allowed fully vaccinated non-visa travelers from Green List areas to enter the country without the need for facility-based quarantine as long as they secure negative Reverse TranscriptionPolymerase Chain Reaction (RTPCR) test within 72 hours prior to their departure. “Except for countries classified as ‘Red,’ the testing and quarantine “The idea that focusing on the protocols forisall inbound internaeconomy is really a one-way street. tional travelers in all ports of entry It is more viable to work on human shall comply with the testing and capital now and determine how we quarantine protocols for ‘Yellow’ bring it to a level that can restore list countries,” Nograles said, citing growth,” Lanzona said. the provision of IATF Resolution a separate e-mail, Ateneo de No.In151-A. Manila University ProfesHe noted HongAssociate Kong, which has sor GeoffreyaM. Ducanes Busiconfirmed case of thetold Omicron nessMirror thatfall providing variant, will also under thefood Yelsubsidies for poor Filipinos will prelow list countries. vent them from falling deeper The suspension of the rulesinto for poverty or make them go hungry. “Green List” countries will be in SeeNovember “Hunger,” A2 effect from 28, 2021 to December 15, 2021.

OVER 3-M FARMERS LISTED P75-B COCO LEVY FUND Hunger andFOR nutrition are non-negotiables: experts

(SOFI) report. The report was jointly prepared and published by the United Nations’ FoodY. Arcalas and By Jasper Emmanuel A g r icu lt ure Organi zat ion, @jearcalas International Fund for Agricultural Development, ORE than 3Unimillion cef, World Food Programme coconut farmers and (WFP) and the World workers areHealth now regisOrganization. tered with the government’s regThe 2022 report re-basis istry,SOFI which serves as the vealed that the cost of a healthy for the number of people to be diet in the covered by Philippines the utilizationinof the 2020 rose to a four-year high P75-billion coconut levy fund. at $4.108 per person per day Philippine Coconut Authority (about atAdministrator current ex- Roel (PCA)P230 Deputy change rate). M. Rosales said about 3.11 million

Continued onand A4 farm workcoconut farmers ers have been registered with the government since it started up-

dating its registry following the enactment of the Coconut FarmUNGER ition ers and Industryand Trustnutr Fund law. should become non-negoRosales explained that about tiables underfarmers the Marcos 500,000 coconut and administration, according to PCA’s local workers were added to the economists. 2018 list that had about 2.5 million With the majority of Filipinos coconut farmers and farm workers. already not being able afford The PCA’s next stepto is to conhealthy diets, the recent spikeproin duct an exclusion-inclusion inflation caused by more expencedure by making the updated sive food items would require the farmers’ registry public, providnational government to introduce ing everyone the opportunity to interventions. check the veracity of the list, RoOne intervention, Ateneo Eagle sales added. Watch Senior Fellow Leonardo A. “The list will be posted in public

spaces where people can easily see

them. This allows everyone to see who are listed in the registry and if Lanzona Jr. toldsee BusinessMirror, farmer doesn’t his name then he isshall for coordinate the government toPCA provide with the imfood subsidies instead of cash subsimediately,” he explained at a recent dies. Thiswith will ensure families dialogue coconutthat farmers. do not grow hungry and that the “On the other hand, if people food is also good for them. would see names on the list and “I would to are notenot that hunger they thinklike they coconut and nutrition aredetails non-negotiables. farmers or their are incorThere seems be a general rect, they cantoreport it to thetrend PCA in this and the previous for immediate action,” headminisadded. tration focus on the economy The to PCA official noted that and basically assume that income the completion of the initial list will be distributed of coconut farmers automatically,” registry would Lanzona in an over the be just insaid time fore-mail the expected rollout of coconut levy-funded

programs as President Duterte is expected to sign the industry weekend. plan in early 2022. development “It is important to will prioritize Rosales said the PCA not health, nutrition and education stop updating its list of coconut becauseand downgrading their farmers enjoined them tovalues regin this post-pandemic period will ister in order to reap the benefits make it difficult to return to of the decades-long idled coconutits previous henot added. levy fund. state,” “We will stop at 3.1 Giving million. Wefood hopesubsidies, that moreLanzona indisaid, would also spur viduals will register in ouragriculture coconut production. This he cansaid. be part of a farmers registry,” comprehensive agriculture proThe updating of the coconut gram where farmers are encouraged farmers registry is mandated by to plant nutritious varieties Republic Act (RA) food 11524 or the to increase access to them. Coconut Industry Trust Fund Act. See “3-M farmers,” A2

on A2 PESO EXCHANGE RATES n US 55.9090 n JAPAN 0.4110 n UK 67.2250 n HK 7.1245 n CHINA 8.3427 n SINGAPORE 39.9208 n AUSTRALIA 38.2362 n EU 56.8315 n SAUDI ARABIA 14.8936 Continued Source: BSP (July 8, 2022) PESO EXCHANGE RATES n US 50.4600 n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n SINGAPORE 36.8968 n AUSTRALIA 36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531 Source: BSP (November 26, 2021) See “Borrowings,” A2

News

BusinessMirror

A2 Monday, July 11, 2022

US agency: PHL F&B sales could rise 6% to $26B in ’22

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Philippines’s food and beverage industry sales this year could rise by 6 percent year-on-year to nearly $26 billion, driven by higher consumer demand due to loosened quarantine protocols, an international agency said.

In a report, the United States Department of Agriculture Foreign Agricultural Service in Manila (USDA-FAS Manila) projected that the sales of the local food and beverage industry would expand by 6 percent from last year’s $24.36 billion. “With loosened quarantine protocols and the economy boosted by the recent national elections, FAS Philippines estimates a six percent sales growth in the food and bever-

age industry for 2022,” the USDAFAS Manila said in a recent Global Agricultural Information Network (Gain) report. The USDA-FAS Manila said sales of Philippine food and beverage retail stores last year declined by 1.57 percent from $24.75 billion in 2020 due to Covid-19 pandemic challenges. The USDA-FAS Manila said the Philippines’s improved employment and increased wages, coupled

Hunger...

Continued from A1

“This is especially important for children of poor households who might become malnourished and whose physical and mental development can be affected,” Ducanes said. He explained that the spike in inf lation and the depreciation of the peso are worrisome

when it comes to food prices. Ducanes said these could increase the price of imported food that Filipinos consume on a daily basis. This includes “imported fruits and vegetables, meat, canned goods, and even sweets.” The impact of the depreciation

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Borrowings...

Continued from A1

with the anticipated resumption of face-to-face classes and onsite work, would contribute to the 6-percent growth in food and beverage sales this year. “While striving to ensure safety and prevent a surge in Covid-19 cases, the government has slowly reopened the economy to allow operations and businesses to recover through easing of mobility restrictions,” it said. “Some consumers have slowly shifted to buying from brick-and-mortar food retail stores. Other retail stores supplying restaurants have gained salesasmoreconsumersresumedining in restaurants in the city and traveling out of town,” it added. Furthermore, the USDA-FAS Manila said opportunities for imported products in traditional food and beverage retailers in the Philippines “remain” due to “improved” food traffic in wet markets and supermarkets.

“Improved foot traffic led to wet markets gradually recovering sales of fresh fruits, vegetables, meat, poultry, and fish. As sari-sari stores recuperate, warehouse clubs and hypermarkets benefit from increased purchases of fast-moving consumer goods,” it said. The USDA-FAS Manila projected US agricultural exports to the Philippines this year to grow by 8 percent to a record-high of $3.834 billion from last year’s $3.55 billion. The USDA-FAS Manila said the Philippines ranked as the seventh-largest export market of US agricultural products. “Despite shipping challenges, the United States remains the largest exporter of food and beverages. Post forecasts US food and beverage exports to grow eight percent in 2022 with strong opportunities for milk, cheese, meat, poultry, baked products, fruits, vegetables, wine, and pet food,” it said.

On the other hand, gross foreign borrowings in the same period hit P279.6 billion, up by 10.5 percent from last year’s P253.04 billion. Over 40 percent of the amount of foreign borrowings, or P117.33 billion, came from the sale of multitranche dollar-denominated global bonds. Other sources of gross foreign borrowings include program loans (P89.08 billion), multitranche samurai bonds (P28.55 billion), and a project loan (P44.66 billion). For May alone, the national government paid more debts than it incurred for the month, resulting in a net payment of P258.97 billion. This was mainly due to the net payment in gross domestic borrowings, particularly the P300billion short-term loan from BSP and P85.89 billion in T-bills. These payments were partly offset by the government’s borrowings through its sale of Fixed Rate Treasury Bonds during the month, amounting to P115.21 billion. Gross foreign borrowings, meanwhile, jumped by 50.3 percent to P11.71 billion from P7.79 billion.

of the peso, Ducanes said, would have lingering effects on inflation. This will have a significant impact on the ability of Filipinos to afford commodities, particularly food. The increase in inflation hurts the poor more, especially if the source of the increase is in food. The Philippine Statistics Authority (PSA) said food alone has a weight of 34.8 percent in the Consumer

Price Index (CPI) for all households and as much as 55 percent for the bottom 30 percent. “The effect of the peso depreciation is of course not limited to inflation, it could also positively affect our exports as they become less expensive in the world market. In assessing the effects of a peso depreciation, this should also be given weight,” Ducanes said. “Given the further depreciation

of the peso in July 2022, we would expect an even higher cost for the same basket this month should the peso depreciation continue to hold,” he also said. In the long term, Ducanes said, the country should strive to increase domestic agricultural productivity. This can be addressed by dealing with the problems in the agricultural sector. Ducanes cited a need for greater investment in agricultural infra-

Informal sector...

Continued from A1

It noted that the number of self-employed without any paid employees rose by 569,000 to 13.2 million from 12.6 million. Unpaid family workers increased by 542,000 to 3.8 million from 3.2 million. “ T he new administration’s plan to just increase ‘employability’ through education, training

and skills development is not enough. Boldly reforming the economy starting with boosting the country’s own production sectors and not of big and foreign profit-driven businesses will deliver steady jobs, decent incomes, higher productivity, and a genuinely livelier economy, said the group,” Ibon said.

For this year, the government had set to borrow a total of P2.2 trillion. As of end-May, the national government’s outstanding debt dipped to P12.5 trillion from a record-high of P12.76 trillion as of end-April due to the repayment of its short-term interest loan from BSP. The national government’s debtto-GDP ratio as of the year’s first quarter rose to 63.5 percent, the highest since the country’s debt as a percentage of the economy hit 65.7 percent in 2005 under the Arroyo administration. Finance Secretary Benjamin E. Diokno said they expect the country’s debt-to-GDP ratio to reach 61.8 percent by the end of the year and to taper down until it reaches 52.5 percent in 2028, the end of the term of President Ferdinand “Bongbong” Marcos, Jr. While Diokno said they are not in a hurry to quickly return to the country’s historic low pre-pandemic debt ratio of 39.6 percent, their strategy, he explained, is to prioritize supporting economic growth in order for the country to outgrow its debt. structure, equipment, and research and development. He also stressed that the Philippines should keep trade open in order to allow Filipinos to have access to affordable food and nonfood items. This allows a steady supply of items that are not supplied domestically and options to source items elsewhere that may be considered cheaper. Cai U. Ordinario

More Filipinos are also ending up in part-time jobs, said the group. By hours worked, the number of those that worked less than 40 hours increased by 439,000 to 16.7 million in May 2022 from 16.3 million in April 2022. Ibon said since February, the number of part-time workers has been increasing by a monthly average of 922,000. Further, Ibon said full-time workers or those who worked 40 hours and over decreased by 6,000 while those “with a job, not at work” increased by 18,000. “The country’s economic instability will only worsen the jobs crisis. Government not taking action and providing real economic stimulus through cash assistance to poor households, wage subsidies and support to small businesses and producers amplifies the effects of a weakening economy,” Ibon said. On Thursday, the Philippine Statistics Authority (PSA) reported that 2.93 million Filipinos are unemployed while 6.67 million are underemployed in May. The PSA noted that this translated to an unemployment rate of 6 percent and underemployment rate of 14.5 percent in May 2022. In May last year, unemployment was at 7.7 percent and underemployment was at 12.3 percent. PSA data showed a total of 4.52 million Filipinos were visibly underemployed and 2.144 million, invisibly underemployed. The number of Filipinos considered invisibly underemployed increased by 620,000 between May 2021 and May 2022; while visibly underemployed workers increased by 557,000 during the 12-month period. Underemployed persons are employed persons who expressed a desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work. Invisible underemployment is experienced by underemployed persons who are working at least 40 hours in a week, while visible underemployment is experienced by underemployed persons working less than 40 hours in a week.

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The Nation BusinessMirror

Pinoys want NTF-ELCAC to continue ops–survey By Rene Acosta @reneacostaBM

BOUT 56 percent of Filipinos support the continuation of the National Task Force to End Local Communist Armed Conflict NTF-ELCAC), lobbying and campaign firm Publicus Asia Inc. said, citing the results of its recent survey. Publicus, also a consultancy company, issued the statement as it rectified its earlier statement that 59 percent of Filipinos favored the NTF-ELCAC to continue its work under the administration of President Ferdinand Marcos Jr. Admitting its error, the firm said the acceptance rating as shown by the results of its survey should be 56 percent and not 59 percent. “Earlier today, we released a press release reporting that the total approval rating for ‘continuation of NTF-ELCAC’ on the ‘Pahayag 2022 Second Quarter Survey (June 16-22, 2022)’ was 59 percent,” Publicus said. “After further validation, the total approval rating for the continuation of NTF-ELCAC on the survey was 56 percent,” it added. The NTF-ELCAC was created by former President Rodrigo Duterte to spearhead its program of ending communist insurgency by implementing various programs. The task force, which has the military as its chief implementor, has been duplicated down to the municipal level through the creation and existence of regional, provincial and municipal task forces. The NTF-ELCAC has been successful, some quarters and groups have claimed, as such they were pushing for the body to be retained under the administration of President Ferdinand R. Marcos Jr. Publicus said that based on the results of its survey, the 59 percent

rating should go for the construction and operation of a nuclear plant in the country, which came in the middle of talks about the possible revival of the mothballed Bataan Nuclear Power Plant (BNPP). “It is ‘allowing the construction of a nuclear power plant in the Philippines’ that earned a total approval rating of 59 percent on our survey,” the consultancy firm said through lawyer Aureli Sinsuat. Publicus apologized for the “error.” Citing safety reasons, some groups ex-pressed opposition to the operation of the BNPP, which was constructed during the term of Marcos’s father, the late President Ferdinand E. Marcos. Sinsuat said the same survey results showed the appointment of Clarita R. Carlos as national security adviser (NSA) as a ‘game changer’ for NTF-ELCAC, which has the security adviser as its vice chairman and the President being the head. “Notably, Carlos has publicly questioned the use of red-tagging as a means to combat the communist insurgency. In this context, it is clear that the appointment of Carlos as National Security Adviser is a game changer because the NTF-ELCAC will be much less likely to engage in red-tagging under her leadership,” the lawyer said. Sinsuat also noted that Carlos’s plan to focus on ‘human security’ as a means to combat the root causes of insurgency is in line with the “wholeof-nation approach” institutionalized by the NTF-ELCAC. Publicus said the survey was participated by 1,500 registered Filipino voters who were randomly sampled by PureSpectrum, a USbased panel marketplace with multinational presence, from its national panel of more than 200,000 Filipinos.

DOLE urged to punish violators of occupational safety standards By Butch Fernandez

@butchfBM

HE new leadership of the Department of Labor and Employment (DOLE) was prodded by Senator Emmanuel Joel J. Villanueva over the weekend to review and “strictly enforce Occupational Safety and Health Standards” (OSHS) and promptly punish violators “to send a clear signal the Duterte government means business.” Villanueva pressed concerned officials of the DOLE to “look deeper into the enforcement of OSHS and proceed to “penalize those responsible for the death of two people on July 8 after an elevator they were repairing in a building in Makati City collapsed. The senator stressed that “one accidental but preventable death in the workplace is already far too many,” prodding building regulators to “look deeper” and “verify if the elevator was subjected to technical safety inspection by DOLE inspectors.” Moreover, Villanueva wants to know “if safety protocol in repairing elevators were observed.” “We need an immediate investigation on what is the proximate cause of the accident, and let the full force of the law be applied to show how serious we are in providing our workers with a safe and healthy working environment,” he added. The lawmaker said that under the OSHS Implementing Rules and Regulations, a penalty of P100,000.00 shall be imposed for every day of violations that expose workers to death, serious injury, or serious illness, without prejudice to the filing of any criminal or civil case.

Keen interest

VILLANUEVA conveyed keen interest in the case being the principal author and main sponsor of the Republic Act

11058 (Act Strengthening Compliance with Occupational Safety and Health Standards and Providing Penalties for Violations Thereof). Airing an appeal addressed to the new DOLE leadership to “prioritize the compliance of businesses with OSHS as part of the department’s first 100-day plans,” the senator reminded that “we supported increasing the DOLE’s Labor Laws Compliance budget for this year to P599 million and adding more personnel to enforce OSHS. “The Filipino people need to know how efficiently the law is being implemented for the protection and welfare of our workforce,” Villanueva said. He noted that before even considering Labor Code amendments or review, “we must first ensure that we have faithfully implemented existing labor laws such as the OSHS Act.” At the same time, the senator suggested that the new leadership of DOLE should “immediately convene the almost four years overdue” intergovernmental coordination and cooperation mechanism, as prescribed by Section 31 of RA 11058, to monitor the implementation of the law. He also recalled that based on DOLE’s Labor Inspection Report as of April 30, 2022, only 64.6 percent of the 25,493 establishments inspected have complied with occupational safety and health standards, noting that “most of the violations involve the non-compliance with the requirements of first aiders, safety officers, and fire safety measures. “The ongoing pandemic is not the only health hazard going around in our workplace,” Villanueva said. “Negligence and non-compliance to occupational safety and health standards are diseases in our businesses that can easily be cured by prevention and due diligence.”

Editor: Vittorio V. Vitug • Monday, July 11, 2022 A3

CA thumbs down massacre convict’s appeal for transfer By Joel R. San Juan @jrsanjuan1573

HE Court of Appeals (CA) has dismissed the bid of Maguindanao massacre convict and former Gov. Zaldy U. Ampatuan to be “extricated” from the New Bilibid Prisons (NBP) in Muntinlupa due to Covid-19 pandemic. In a 9-page decision penned by Associate Justice Angelene Mary W. Quimpo-Sale, the CA’s Special Division of Five affirmed the July 20, 2020, order issued by presiding Judge Jocelyn Solis-Reyes of the Regional Trial Court (RTC) of Quezon City Branch 221. Solis-Reyes denied Ampatuan’s motion. The appellate court did not give credence to Ampatuan’s claim that Solis-Reyes committed grave abuse of discretion in denying his request to be transferred to a hospital or medical facility despite the “clear

and present danger” posed by his continued stay at the NBP during the pandemic. Ampatuan noted that he suffered a stroke on three occasions prior to his commitment to the NBP and his having hypertension, diabetes and chronic atrial fibrillation puts him vulnerable to contracting the virus. Ampatuan said he should be allowed to stay in the hospital or medical facility until the country, in general, or the NBP, in particular, have equipped itself with ability to mitigate or prevent Covid-19 transmission. However, the CA held that Ampatuan’s petition has become moot and academic in light of the recent developments in the country’s bid fight to prevent Covid-19 infections from further spreading. “In this case, the petition does not expound on how the clear and present danger rule applies to petitioner,

when the issue raised herein neither involves the freedom of expression nor of religion,” the CA pointed out. The appellate court noted that when Ampatuan filed the motion, the National Capital Region (NCR) was on general community quarantine (GCQ). The latter refers to the implementation of temporary measures limiting movement and transportation, regulation of operating industries and presence of uniformed personnel to enforce community quarantine protocols. By the end of July 2020, there were 83,673 confirmed cases of Covid-19 and the vaccines against the Covid-19 virus were yet to be available. With the roll-out of the vaccines in March 2021, the CA said infections in the entire country have already gone down, and the NCR is no longer on GCQ but is presently on Alert Level 1. The latter refers to areas wherein case transmission [of the virus is low

and decreasing, total bed utilization rate, and intensive care unit utilization rate is low. Furthermore, the appellate court said more than half of persons deprived of liberty (PDLs) under the Bureau of Corrections have been fully inoculated as of March 14, 2021, and started receiving booster doses of the Covid-19 vaccines. “These developments are based on and affirmed by official statements of the government and are also of public knowledge of which judicial notice may be taken,” the CA explained. “And while the Court in the case at bar is called upon to make a determination of whether respondent judge acted with grave abuse of discretion in issuing the assailed order, these events and developments have supervened thereby rendering the reliefs prayed for moot,” it added.

Vaccination, health protocols key to face-to-face classes–Cocopea By Claudeth Mocon-Ciriaco @claudethmc3

V WHILE THINGS LAST

People from all walks of life flock at the dolomite beach in Manila Bay last Sunday, July 10, 2022. The easing of mobility restrictions, however, has been seen as contributing to the spike in Covid-19 cases in the country. Health officials have said cases have breached 13,000 as the Department of Health reported 1,825 cases last Saturday, July 9, 2022. NONIE REYES

Tesda to add more foreign languages in training offers

HE Technical Education and Skills Development Authority (Tesda) will soon be offering additional foreign language training courses in an aim to advance the competitive edge of Filipino workers. Tesda Officer in Charge Deputy Director General Rosanna A. Urdaneta saidtheagencyiseyeingmorelanguagerelated courses to add up to the alreadyexisting courses under its National Skills Language Center (NLSC). Tesda’s NLSC is planning to open additional language courses, such as Arabic, Mandarin, Korean, Italian and French. “As we continue to respond to the demands of our workers, we shall soon be offering various language courses in partnership with foreign embassies and other interested international organizations,” Urdaneta said. She said that Tesda is not just

teaching the language itself but also the country’s culture. This, according to her, will help Filipino workers to easily adapt to and adopt the country’s language and culture. In his inaugural address last June 30, President Ferdinand R., Marcos Jr. underscored the importance of “sharpening the language skills” of Filipino workers, including Overseas Filipino Workers (OFWs), that will give them the advantage to survive and thrive in foreign soils. At present, Tesda’s NLSC offers English Proficiency for Customer Service Workers, Japanese Language and Culture, Japanese Language and Culture Level II and Spanish Language for Different Vocations. In 2021, the NLSC has produced 1,148 graduates, of whom 508 finished the English Proficiency for Customer Service Workers; 450 the

Japanese Language and Culture; and, 190 the Spanish Language for Different Vocations. Among the Tesda language course graduates were uniformed personnel of the Philippine National Police (PNP) and Armed Forces of the Philippines (AFP), employees of the Business Process Outsourcing (BPO) and OFWs. Tesda Deputy Director General for Operations Aniceto D. Bertiz III disclosed that agency’s NLSC has projects and programs in the pipeline designed to strengthen the delivery of language skills training to Filipino workers. “Tesda will continue to implement and improve its programs and services designed to improve the language skills of Filipino workers here and abroad in line with the new Marcos administration’s priority agenda,” Bertiz said. Claudeth Mocon-Ciriaco

MARCOS ‘GREATLY IMPROVED’ AFTER CONTRACTING COVID–PALACE

RESIDENT Ferdinand R. Marcos Jr., who tested positive for Covid-19, has greatly improved, the Palace announced last Sunday. In a statement, Press Secretary Rose Beatrix Cruz-Angeles said Marcos is doing well and continues to work in isolation, “giving out directives to his Cabinet officials in the comfort of his home.” Angeles said the President, who was visited last Saturday afternoon by his Lead Physician Samuel Zacate, has only mild symptoms with “no fever,

no loss of taste and smell sensation.” According to the official, Zacate’s physical examination indicated that the President’s throat was clear of any inflammation and most important, there was “no sign of respiratory distress or pneumonia.” “His personal doctor reported Saturday that the President is doing well and very much in stable condition,” Angeles said. “The President was advised to undergo home isolation for seven days in compliance with the Department of Health protocol for

fully-vaccinated individuals.” The President tested positive for Covid-19 in an antigen test last July 8, as he experienced mild fever, nasal stuffiness, nasal itchiness and mild occasional non-productive cough. An RT-PCR test was also made on Marcos confirming his being positive for SARS-COV-2. Angeles said this is the second time that Marcos tested positive for Covid-19. The first was during the height of the pandemic in 2020. Jovee Marie N. Dela Cruz

ACCINATION and stricter adherence to health protocols are key to the successful implementation of face-to-face classes, the Coordinating Council of Private Educational Associations (Cocopea) said last Sunday. Cocopea Chairman Anthony M. Tamayo said member-schools have been preparing for face-toface classes for months even before President Ferdinand Marcos Jr. announced his plan to have the face-to-face classes by November. “In general, we are ready to comply with the directive of the President to go back to full face-to-face classes,” Tamayo said. “In fact, as soon as the alert level went down to alert level 1 in March, we started preparing already.” Tamayo, who is also president of the University of Perpetual Help System Dalta (UPHSD), said their suggestions might help facilitate the return to face-to-face classes based on consultations with Cocopea members. “As the safety of our students, teachers, and other personnel are paramount, expediting their vaccination and stricter adherence to the minimum public health standards would help persuade parents to send their children back to school,” he said. Furthermore, he said, simplifying or streamlining of procedures and requirements for schools intending to return to face-to-face classes will greatly aid in the participation of more schools and a faster turnaround. Tamayo reiterated that their members are ready to support the plan of Marcos to fully implement face-to-face classes nationwide by November of this year. However, the group is appealing that if it will be mandated in September, private schools shall be given the “flexibility,” or a choice to offer hybrid or full online classes. He also stressed that the final decision on whether the learner returns to face-to-face classes or attend hybrid or full online classes depends on the parents. Founded in 1961, Cocopea is the unifying voice of private education and takes the lead in public policy development for the sector.

A4 Monday, July 11, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Retailers positive amid high oil prices, peso depreciation By Andrea San Juan

HE Philippine Retailers Association (PRA) is expecting a positive outlook for the retail sector for the rest of the year amid the “external challenges.” “We’re expecting the second quarter will even be better than the first quarter,” PRA President Rosemarie B. Ong told reporters during the association’s general membership meeting. “So far the outlook this year is positive despite the challenges; [which are] external. We have no control [over] that.” The gross value added in retail trade increased from P559 billion in the first quarter of 2021 to P605 billion in the same period this year. Meanwhile, the share of retail trade in gross domestic product (GDP) stands at 13 percent in 2022.

Ong emphasized the growth can be attributed to home consumption. “We see consumption happening,” she added. While Ong expects the second quarter to “be better” than the first quarter, she is hoping for the retail sector’s performance to be stable at the least if it won’t post a growth in the face of oil price hikes and the depreciation of the peso, among others. “I think things are getting back into shape, but [hopefully] nothing escalates. For example, there’s still fear of rising prices of oil, which really affects all of us and, of course, the depreciation of peso,” Ong said. “Hopefully, we can address all of those.” However, Ong said dealing with economic challenges also “depends on how resilient that particular re-

tailer is.” Still, she emphasized that large retailers are resilient. The PRA chief added that the retail sector has already surpassed so many challenges. This resilience, according to her, is due to the conduct of meetings, collaboration and the sharing ideas and information.

Tech-up retail

AT the meeting last Thursday, Trade Secretary Alfredo E. Pascual urged the PRA to recalibrate and accelerate digital transformation, especially among micro, small and medium enterprises (MSMEs), by promoting digital payment. Ong agreed, noting that “we need to tech up the industry.” “It will help the retailers to be more efficient in their processes.” In relation to a digital payment

system, Ong said they are hoping the PRA “can continue it [digital transformation] until the finish line.” The PR A chief is asking for government support in terms of training and resources for digital transformation, especially microscale enterprises. “These micro businesses they cannot afford [the training]. If we could provide them, let’s say, a system that they can use and of course train them,” Ong said. Meanwhile, the PR A official also hopes Covid-19 cases would not increase. “I think things are under control and, besides, majority of the population has been vaccinated already and from the reports that we got, most of the infected easily recover…once vaccinated.”

Davao City hog farmers repopulate backyard, farms

AVAO CIT Y—Livestock farmers here are getting their hog farms and backyard repopulated with hogs after some farms in the northern part of Davao City were affected by the African Swine Fever last year. Cerelyn B. Pinili, head of the City Veterinarian’s Office, said 346 heads of pigs and 1,384 sacks of feeds were distributed to farmers and a hog raiser cooperative in Davao City between June 28 and July 1 this year. The Davao City Veterinarian’s Office and the regional office of the Department of Agriculture conducted the repopulation program of hog farms. In Barangay Dominga, Calinan district,33kilometersnorthwestofdowntown,some74hogfarmersreceived128 piglets and 592 sacks of feeds. In Barangay Magsaysay, Marilog district, 98 piglets and 392 sacks of feeds were given to 49 hog farmers; in Barangay Colosas, Paquibato, 24 hog farmers received 50 piglets and 200 sacks of feeds; while a hog raiser cooperative in Buhangin was given 50 piglets and 200 sacks of feeds. Pinili said all beneficiaries were affected by the ASF. She said the farmers may sell or keep the pigs for breeding after the City Veterinarian’s Office would make sure their areas would not show any trace of ASF within 40 days of raising them. Manuel T. Cayon

More expensive food

ADRIANO said the country’s accelerating inflation and continuous depreciation of peso would make nutritious food “more unaffordable” to Filipino consumers. Adriano pointed out that almost 60 percent of the

Lawmakers file 10 bills to slash electricity costs By Jovee Marie N. Dela Cruz @joveemarie

O mitigate the burden of Filipinos in electricity consumption while boosting the country’s energy efficiency, partylist lawmakers are pushing for the passage of “10 power bills,” including the proposed System Loss Limitation Act and amendments to Electric Power Industry Reform Act (Epira) and the Oil Deregulation Act. Social Amelioration and Genuine Intervention on Poverty (Sagip) Partylist Reps. Rodante D. Marcoleta and Caroline L. Tanchay said these energy-related measures seek to bring down the cost of electricity. The lawmakers also see the measures as providing a roadmap for increased economic and business activity to generate jobs and lower the cost of basic commodities. Marcoleta and Tanchay said these “power bills” offer a wide-range of solutions to the country’s pressing issues on energy, particularly in terms of efficiency, affordability and development. The first bill filed by the lawmakers is House Bill (HB) 160 (SystemLoss Limitation Act of 2022), which limits the cap for system loss from 9.5 percent to 1 percent. Through this, the lawmakers said distribution utilities will be deterred from unduly passing the burden of shouldering losses to Filipino consumers. “Passing too much burden of incurring these system losses to the consumers is not only unfair but also deters the power firm from prioritizing quality and reliable service, knowing that they can readily pass the charges on to the consumers,” the authors said in the bill’s explanatory note.

Oil, renewables

SHADED

A woman takes a photo of a girl under a sea of umbrellas outside the Quiapo church in Manila. The easing of restrictions have allowed the economy to recover after lockdown measures pushed it to a recession. Government economists, however, remained concerned with external inflationary pressures as well as spiking cases of Covid-19. NONIE REYES

ANOTHER measure the lawmakers filed is HB 161 (VAT Exemption for Covered Electric Billing Act of 2022), which exempts low-income households with a total monthly consump-

tion of 200 kilowatt-hour (kWh) from a 12-percent Value Added Tax on all electric components. This will translate to a discount of almost P240 (about $4.30) per month for the covered households. The Sagip lawmakers also seek amendments to the Oil Deregulation Act through HB 164. The bill seeks to “protect consumers from arbitrary Increases” in prices of liquefied petroleum gas (LPG). Another is HB 174 (Act Prohibiting Cross-Ownership among Distribution Utilities and Generation Companies). The bill seeks to amend the Electric Power Industry Reform Act (Epira) and avoid monopoly by eliminating the allowance for crossownership in the Epira (Republic Act 9136). “The prohibition on any form of cross-ownership will remove the conflict of interest as among distribution utilities and generation companies, allowing a level playing field for all power stakeholders,” Marcoleta and Tanchay said in the explanatory note. The lawmakers also filed HB 172 seeking the institutionalization of the Energy Investment Coordinating Council (EICC), which former President Rodrigo Duterte created in 2017. The authors said it is necessary to further amplify the role of EICC to safeguard energy projects, “considering the threat of an energy crisis on a global scale” and “thinning energy resources on the national scale.” The lawmakers also want to develop the Philippines’s downstream natural gas industry through HB 173 in order to provide an alternative source of natural gas aside from the Malampaya Deep Water Gas-toPower Project. Marcoleta and Tanchay also filed HB 162 (Green Energy Auction Act), HB 163 (the Laguna Bay Solar Park Development Act of 2022), HB 170 (Enhancing the Implementation of the Net Metering System Act) and HB 171 (Act Authorizing the Development of Idled and Unutilized AFP Real Estates for Potential Sites of Renewable Energy Projects).

ERC commended for ordering Meralco to refund consumers

VER-BILLED customers of the Manila Electric Co. (Meralco) stand to get an estimated P21.8-billion refund equivalent to 87 centavos per kilowatt-hour (kWh) on orders of the Energy Regulatory Commission (ERC). Sen. Sherwin T. Gatchalian found it “fortunate” that the ERC’s directive to reimburse residential customers came just days after the Supreme Court upheld a 2013

approved rate-hike application by Meralco, the country’s biggest power distribution utility. The senator computed that the SC verdict granting Meralco authority to impose a staggered power hike would enable it to recover P22.64 billion from consumers. In turn, Gatchalian commended the ERC for ordering Meralco to refund its customers P21.8-billion equivalent to 87 centavos per kWh.

He computed this would mean, for instance, that a typical household consuming 200 kWh a month to receive a P174-refund in electricity bill starting this month. Gatchalian sees the move as “a welcome relief especially for poor Filipino households” anticipating that “it will make a difference amid the rising cost of basic commodities.” The solon recalled that Meralco had earlier been directed to exe-

7 in 10 Filipinos can’t afford nutritious food–SOFI 2022 continued from a1 The cost of a healthy diet in the Philippines has been constantly increasing since 2017 when it was estimated at $3.843 per person per day. In 2018, it was $3.998 per person per day and reached $4.054 per person per day in 2019. Based on the latest SOFI 2022 data, a Filipino should spend nearly $1,500 (about P84,000 at current exchange rate) annually to stay on a healthy diet. “There is a recent WFP study showing that with the current minimum wages across different regions, hardly any of those workers in various regions of the country can afford to buy nutritious food for their family,” economist Fermin D. Adriano, a former Agriculture Undersecretary, told the BusinessMirror. “It also noted that you almost have to double the take home pay of workers to afford decent nutritious food for the family,” Adriano added.

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income of poor Filipino households goes to the purchase of food. “If food prices increase as a result of the depreciation of the peso (for those imported ones, like most canned goods—meat and fish) and supply shortages, these will mean that the greater income of the poor will go to purchasing food, leaving little for other needs (health, education, clothing, etc.),” he said.

Recommendations

ACCORDING to Adriano, if the government wants to make the country food-sufficient, then it must do three things: craft a medium-term plan outlining how food sufficiency will be achieved; allocate the necessary budget to realize the plan; and manage better the country’s growth population. Adriano noted that the country’s population growth in the past easily outstripped domestic agricultural productivity growth. “We need to develop commodities where we have a comparative advantage so that we can export and generate more jobs and foreign exchange revenues. The fastest way of promoting growth and development is investing in areas where the country

has a comparative advantage. This is always lost in the mind of our populist policymakers,” he said. Adriano also noted that the Filipino public needs to understand “better” the balance between food importation and local production to meet the country’s total food requirements. “We have a decent level of sufficiency for rice (around 90 percent),” but importation cannot be helped, he said, “if we are to plug the remaining 10 percent supply gap. This goes for other commodities wherein we can estimate our sufficiency level and decide when to import to plug the supply gap.”

Undernourishment, food insecurity

THE 2022 SOFI report also showed that the number of undernourished Filipinos declined to 5.7 million in the years of 2019 to 2021 compared to 12.4 million in the years 2004 to 2006. The report bared that about 53.3 million Filipinos were either moderately or severely food-insecure as of 2021. The 2022 SOFI report showed that 4.8 percent of the country’s

population or about 5.3 million were severely food insecure while 48 million were moderately or severely food insecure. “This is scandalous. The number of food insecure in the country (50 million) is more than the population of Australia (26 million), Canada (35 million), Malaysia (30 million), and most of the countries in the world,” Adriano said. “If this happened in developed countries, it will be enough to replace the sitting government. But we are not a developed country and hence, our policymakers can get away with a crime,” he added. The 2022 SOFI report explained that people who experienced severe food insecurity are those that have “likely run out of food, experienced hunger and at the most extreme, gone for days without eating, putting their health and well-being at grave risk.” Meanwhile, moderate food insecurity refers to “a lack of consistent access to food, which diminishes dietary quality, disrupts normal eating patterns, and can have negative consequences for nutrition, health and well-being” of the consumers, according to the report.

cute the refund in approximately 12 months or until the entire amount is fully reimbursed to its customers and to reflect the refund rate as a separate line item in the electricity bill during the refund period. Noting that the latest refund directive was the third since January this year, the senator recalls that Meralco’s previous refunds are to be implemented until 2023 and the

updated total refund for residential consumers is now at P1.8009 per kWh including the latest P21.8-billion refund. At the same time, the lawmaker lauded the ERC for being “committed in ensuring reasonable electricity rates through the exercise of prudent and equitable judgment, for protecting the welfare of consumers, and balancing the interests of all stakeholders. Butch Fernandez

DOJ orders prosecutor to recall theft raps vs Taiwanese aviation firm continued from a10

Chailease said CAPP’s alleged delinquencies consisted of failure to maintain and pay insurance premium on time, failure to maintain insurance coverage on the aircraft as required by the Civil Aviation Authority of the Philippines, late or delayed payment of rentals, unauthorized rental payment by non-related parties, failure to assume maintenance costs to Airbus; and failure to pay management fees to Philjet. In ordering the withdrawal of the complaint, the DOJ declared: “ A review of the complaint itself will reveal that CAPP was never the registered owner of the aircraft. As in fact, in the CA AP Certificate of Registration incorporated in their complaint, it was indicated that the owner was Philjets Aero Charter.” It further noted that the Helicopter Purchase Agreement, which was given much weight in the resolution of the Pasay City Prosecutor’s Office expressly indicates ownership of the helicopter will be transferred

from Starline to CAPP upon signature of the acceptance certificate and the receipt of the full payment of the contract value and that the same will be confirmed by the issuance of the “Bill of Sale” by Starline. “Interestingly, complainant CAPP did not allege and prove that an acceptance certificate was signed or that a Bill of Sale was issued by Starline in its favor,” DOJ noted. Prior to this, Chailease was advised in 2016 by Airbus Helicopters Philippines. Inc. that CAPP wanted to acquire one H-130 Airbus Helicopter to be shipped to the Philippines, and asked whether Chailease would be interested in offering a financial leasing policy to the CAPP. But the helicopter model being eyed by CAPP was already reserved for Starline Global Industries Pte Ltd. However, Starline was willing to give up its order provided CAPP refunds the $700,000 down payment it has made for the aircraft. A purchase agreement was subsequently sealed between CAPP and Starline.

Agriculture/Commodities BusinessMirror

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Editor: Jennifer A. Ng • Monday, July 11, 2022 A5

Cost of imported sugar likely to rise–lawmaker By Jovee Marie N. Dela Cruz @joveemarie

HE chairman of the House Committee on Ways and Means has warned that elevated sugar prices could still rise by around 60 percent. “World sugar prices went as high as 29.3 cents per pound during the recovery period post-GFC [global financial crisis]. Since oil prices have shown a momentum similar to what it did after the 2008-2009 crisis, there is little reason to believe world sugar prices will also approach the levels it did then,” Albay Rep. Joey Sarte Salceda said in a statement over the weekend. “World prices are currently at 18.5 (cents per pound). So, you still have an upside potential of around 58 percent to hit those levels.” “At some point, I think we will have to import. That seems to me to be inevitable. But we should try our best to address the domestic supply situation as well, because, as I said, world prices are likely to pick up, consistent with usual trends post-crisis.” Salceda said Congress will try to

meet with sugar stakeholders as soon as session resumes and committees are organized. “TheHouseleadershipwillprobably deputize a team of members of Congress to look into solutions, and we will work very closely with the President’s economic managers,” he said.

Five-point mitigation

MEANWHILE, Salceda has proposed a five-point mitigation agenda to prevent the country from running out of sugar. The lawmaker proposed a “fivepoint plan” that the Executive branch can immediately undertake to mitigate supply woes, short of increasing imports. Salceda said the National Biofuels Board (NBB) should set the supply of sugar biofuel additives required of petroleum products to zero, and redirect the demand to other sources such as jathropa, cassava, and others. “The Biofuels Act of 2006 requires oil companies to produce a gasoline blend with at least 10 percent bioethanol, so not having to use sugarcane for that demand will already be a good

start. PBBM’s [President Bongbong Marcos] proposal to have the NBB increase biofuel content can require sources other than sugar,” he said. “Second, let us request manufacturers of rubbing alcohol and other non-food sugarcane-based products to shift to other sources. I think in this regard, the Department of Science and Technology will be very important,” he added. Once face-to-face classes resume, Salceda said the government should be stricter about restricting sugarsweetened beverages in schools to reduce non-essential and unhealthy consumption of sugar. Salceda said the President can instruct the Sugar Regulatory Administration,theDepartmentofAgriculture, and the local government units covering sugar districts to evaluate and optimizeprocessesinthesugarvalue-chain, from harvesting to milling to refining. “Fifth, PBBM can validate and investigate possible hoarding of sugar by traders. Some local planters have pointed out that there should not be sugar shortages,” he said. The lawmaker also said that the

BLOOMBERG NEWS

Philippine Competition Commission, the Department of Agriculture,

and the Department of Trade and Industry can be mobilized to priori-

tize monitoring against pricing and supply abuses.

Flash floods destroy rice and high value crops in Ifugao By Jasper Emmanuel Y. Arcalas @jearcalas

LASH floods caused by the “habagat” (southwest monsoon) damaged P14.6-million worth of agricultural produce in Ifugao farms, the Department of Agriculture (DA) said. In its latest report, the DA said the floods affected 728 metric tons (MT) of rice and high value crops across 198 hectares of agricultural areas in Ifugao. The DA added that about 684 farmers incurred losses due to the weather disturbance. “Affected commodities include rice and high value crops. These values are subject to validation,” it said. “The DA continuously coordi-

nates with concerned NGAs [national government agencies], LGUs [local government units] and other DRRM [disaster risk reduction and management]-related offices for the impact of the Habagat, as well as available resources for interventions and assistance.” The DA report showed that 69 percent or about P10.1 million of the initially reported agricultural damage in Ifugao farms were recorded in the high value crops (HVC) sector. The DA said about 489 MT of assorted vegetables across 78 hectares were destroyed by the floods. T he remaining P4.5 -million worth of losses were recorded in the rice sector. The DA said the floods damaged 239 MT of rice across 120

hectares of farms. “The following assistance will be provided to the affected farmers and fishers: rice, corn and assorted vegetable seeds; drugs and biologics for livestock and poultry,” the DA said. The agency said it will utilize a quick response fund to rehabilitate the affected areas. The DA added that the affected farmers may avail of the Survival and Recovery loan program of the Agricultural Credit Policy Council while farmers insured by the Philippine Crop Insurance Corp. will be indemnified.

Veggie supply

DESPITE the damage caused by floods to Ifugao farms, the DA Cordillera Administrative Region (CAR)

office assured the public that there will be “enough” supply of highland vegetables. “Coordination is also being undertaken with respective national government agencies and local government units to immediately put in place interventions and support to enable farmers to quickly recover from their losses,” it said in a statement on Sunday. “At the onset of the Habagat, the DA-Disaster Risk Reduction and Management Operation Center has advised farmers to harvest matured crops and make use of postharvest facilities, as well as secure seed reserves, planting materials and other farm inputs, including feed and water for livestock.”

DAR, DA provide free soil analysis in Saguday, Quirino By Jonathan L. Mayuga @jonlmayuga

O help increase the income of agrarian reform beneficiaries (ARBs), the Department of Agrarian Reform (DAR) has partnered with the Department of Agriculture-Soils Laboratory to provide free soil analysis services to ARBs from various barangays of Saguday, Quirino Province. DAR Provincial Agrarian Reform Program Officer II Jess Beth G. Qui-

dasol said the move aims to reduce the production costs of farmers, particularly fertilizer, through advanced technologies. “The soil analysis aims to determine the right quantity, type, and timing of fertilizer to be applied by the farmers on their farms,” Quidasol said. Quidasol said that the farmers just need to submit air-dried soil samples from their farms to the DA laboratory station and come back for the results after a few days. “At present, there are fifty-seven

(57) soil samples reviewed from the barangays of Sto. Tomas, Tres Reyes, and Salvacion with recommended fertilizers to be used for the palay production,” he said. “This would be a great help to the ARBs to alleviate the burden on their production, especially with the inevitable increase in the price of farm inputs such inorganic fertilizers.” Quidasol said that soil analysis is used to determine the average nutrient status of an area and measures the available humidity, acidity, and

alkalinity of the soil. “The quantity of phosphorus, potassium, calcium, magnesium, sodium, sulfur, manganese, copper, and zinc available in the soil samples tested also determine the amount of fertilizer that is required,” he said. Quidasol said that the soil analysis reports with the corresponding fertilizer recommendations were also forwarded by the DA-Soils Laboratory team to the President of the Pagbabago ng Kabuhayan Irrigators Association of Saguday after 4 days of on-site analysis.

Rice faces squeeze on higher fertilizer costs and booming demand

ICE production is under threat in parts of Asia from higher fertilizer costs at a time when demand is increasing, posing a potential risk to food security and efforts to contain inflation. Crop yields may decline in Thailand, the world’s second-largest exporter, because of elevated prices for crop nutrients, according to a research unit of Kasikornbank Pcl, while in the Philippines, the No. 2 importing country, a lower harvest is likely to increase the need for overseas purchases. China’s worried about the crop impact of pests, while India’s output depends on a good monsoon. Most of the world’s rice is grown and eaten in Asia, making it vital for political and economic stability in the region. In contrast to the surge in wheat and corn prices after Russia’s invasion of Ukraine, rice has been subdued, but there is no guarantee it will remain so. Back in 2008, prices soared above $1,000 a ton, more than double the level now, amid a panic over supplies. While wheat, corn and cooking oils have surrendered much of this year’s gains because of an improved outlook

for supplies, farm production is clearly dependent ultimately on the weather, which is becoming more erratic as a result of climate change. Any fresh surge in wheat and corn costs will inevitably reignite demand for rice for food and livestock feed. Much is riding on the rice crop in India, which ships about 40 percent of the world’s exports of the staple. “Global supply is at risk, but for now we still have massive Indian availability that is reining in prices,” said V. Subramanian, vice president at The Rice Trader, a researcher and conference organizer. India has already limited wheat exports, which the world was counting on to ease tight supplies, saying its food security was under threat. There’s concern that rice may be next on the list, though the prospects for that depend on the monsoon rains and harvest this season. So far the monsoon is progressing normally. For now, India’s rice exports are helping to ease any supply tightness in the region. The Kasikorn Research Center in Thailand said record fertilizer prices after Russia’s invasion of Ukraine

were a turning point for farmers in the country, and that lower application of crop nutrients will cut yields at a time of rising overseas demand. The Philippines expects its rice harvest to drop this year because of more expensive fertilizer. The government is also worried about soaring food inflation, including the cost of rice, especially for lower-income households who spend about 16 percent of their budget on the staple grain. China, the largest rice grower, has warned of a higher incidence of pests and diseases in its crop this year, with some provinces reporting an almost 10 percent increase in the area affected. Vietnam, a top shipper, said high freight and production costs are challenges, even as exports rose in the first half. “Looking at the current situation, India is acting as an anchor for prices with its large exports,” said The Rice Trader’s Subramanian.

Myanmar exports

MYANMAR has set a goal of doubling rice exports in three years’ time by focusing on higher-quality varieties,

according to the president of the nation’s rice federation. The country plans to ship as much as 4 million tons annually by 2025 from around 2 million tons now, amid demand from China, Europe and Southeast Asian countries such as the Philippines, Ye Min Aung said in an interview. Earnings by then are expected to almost double to $1.5 billion. Rice is Myanmar’s biggest agricultural export. The pledge to raise shipments of Asia’s staple food comes after shortages of other commodities from wheat to corn and cooking oils pushed global food costs to a record this year. Still, Asian rice prices have been fairly subdued and trade around the five-year average. The outlook for higher exports is also against a backdrop of a lower domestic crop. Output will be down about 5 percent because of “instability” in some parts of the country, but shipments can be sustained, Ye Min Aung said. Since the 2021 coup, there have been clashes between junta troops and resistance forces mostly in rural areas. Bloomberg News

The World BusinessMirror

A6 Monday, July 11, 2022

Ukrainian governor: Russia raising ‘true hell’ in the east By Maria Grazia Murru The Associated Press

YIV, Ukraine—Russian forces are raising “t r ue hel l ” in U k ra i ne’s ea ster n industrial heartland, despite assessments they were taking an operational pause, a regional governor said Saturday, while another Ukrainian official urged people in Russian-occupied southern areas to evacuate quickly “by all possible means” before a Ukrainian counteroffensive. Deadly Russian shelling was reported in Ukraine’s east and south. The governor of the eastern Luhansk region, Serhyi Haidai, said Russia launched more than 20 artillery, mortar and rocket strikes on the region overnight and its forces were pressing toward the border with the Donetsk region. “We are trying to contain the Russians’ armed formations along the entire front line,” Haidai wrote on Telegram. Last week, Russia captured the last major stronghold of Ukrainian resistance in Luhansk, the city of Lysychansk. Analysts predicted Moscow’s troops likely would take some time to rearm and regroup. But “so far there has been no operational pause announced by the enemy. He is still attacking and shelling our lands with the same intensity as before,” Haidai said. He later said the Russian bombardment of Luhansk was suspended because U krainian forces had destroyed ammunition depots and barracks used by the Russians. Ukraine’s deputy prime minister, Iryna Vereshchuk, appealed to residents of Russian-held territories in the south to evacuate quickly so the occupying forces could not use them as human shields during a Ukrainian counteroffensive. “You need to search for a way to leave, because our armed forces are coming to de-occupy,” she said.

“There will be a massive fight.” Speaking at a news conference late Friday, Vereshchuk said a civilian evacuation effort was underway for parts of the Kherson and Zaporizhzhia regions. She declined to give details, citing safety. It was not clear how civilians were expected to safely leave Russian-controlled areas while missile strikes and artillery shelling continue in surrounding areas, whether they would be allowed to depart or even hear the government’s appeal. The war’s death toll continued to rise. Five people were killed and eight more wounded in Russian shelling Friday of Siversk and Semyhirya in the Donetsk region, its governor, Pavlo Kyrylenko, wrote Saturday on Telegram. In the city of Sloviansk, named as a likely next target of Russia’s offensive, rescuers pulled a 40-yearold man from the rubble of a building destroyed Saturday by shelling. Kyrylenko said multiple people were under the debris. Russian missiles also killed two people and wounded three others Saturday in the southern city of Kryvyi Rih, according to regional authorities. “ They deliberately targeted re s i d e nt i a l a re a s ,” Va l e nt y n Reznichenko, governor of the eastern Dnipropetrovsk region, said on Telegram. Kryvyi Rih’s mayor, Olek sand r Vi l ku l, asserted on Facebook that cluster munitions had been used and urged residents not to approach unfamiliar objects in the streets. More explosions were reported Saturday evening. Kryvyi Rih is the hometown of Ukrainian President Volodymyr Zelenskyy, who visited Friday to meet with Vilkul and the brigadier general who commands troops in the region. Zelenskyy’s office said he was briefed on the “construction of defensive structures,” the support of the troops, the supply of

US eyes counter-China moves in Southeast Asia By MATTHEW LEE AP Diplomatic Writer

ANGKOK—US Secretary of State Antony Blinken is visiting Thailand as the Biden administration moves to show its commitment to Southeast Asia in the face of a relentless push for influence in the region from China. Blinken was meeting with senior Thai officials and democracy activists from neighboring Myanmar on Sunday in Bangkok. He signed an agreement with Thai Foreign Minister Don Pramudwinai expanding the US-Thailand “Strategic Alliance and Partnership.” Blinken came to Thailand after attending an international conference in Bali, Indonesia, where he also raised concerns about China’s increasing assertiveness in talks with Chinese Foreign Minister Wang Yi. Like its predecessors, the Biden administration has watched China’s rapid growth warily and sought to hold it to international standards without significant success. Blinken said Saturday that China’s support for Russia in its war in Ukraine poses a threat to the rules-based order and complicates already tense relations between Washington and Beijing. But China’s aggressive push into its Southeast Asian neighbors and maintaining a robust regional US presence are at the top of Blinken’s agenda in Thailand, according to

American officials. They also say Blinken will offer support and encouragement to Myanmar dissidents who have been forced to flee the country since the military seized power from the elected government on Feb. 1, 2021. The US and like-minded democracies are trying to discourage developing Southeast Asian countries from entering large-scale infrastructure and development projects with China unless they are proven economically feasible, structurally sound and environmentally safe. “What we’re about is not asking countries to choose but giving them a choice when it comes to things like investment and infrastructure, development assistance, et cetera,” Blinken said in Bali. “There is on one level plenty of room for everyone to do that because the needs are immense,” he said. “But what we want to make sure is that we’re engaged in a race to the top—that is, we do things to the highest standards—not a race to the bottom where we do things to the lowest standards.” US officials from multiple administrations have criticized China for exploiting smaller nations by luring them into unfair or deceptive agreements. “My hope would be that if, as China continues to engage itself in all of these efforts that it engages in a race to the top, that it raise its game,” Blinken said. “That would actually benefit everyone.” AP

Rescue worker and police officer inspect a site of destroyed house after a Russian attack in a residential neighborhood in downtown Kharkiv, Ukraine on Saturday, July 9, 2022. AP Photo/Evgeniy Maloletka

food and medicine to the city and the help given people who had fled to Kryvyi Rih after being driven out of their homes elsewhere in Ukraine. In northeast Ukraine, a Russian rocket strike on Saturday hit the center of Ukraine’s second-largest city, Kharkiv, injuring six people, including a 12-year-old girl, authorities said. “An Iskander ballistic missile was probably used,” the Kharkiv regional prosecutor’s office said. “One of the missiles hit a two-story building, which led to its destruction. Neighboring houses were damaged.” The city has been targeted throughout the war, including several times in the past week. As survivor Valentina Mirgorodksaya dabbed at a cut on her cheek, first responders warily inspected the building shattered in Saturday’s strike. Mykolaiv Mayor Oleksandr Senkevych reported on Telegram that six Russian missiles were fired at his city in southern Ukraine near the Black Sea, but caused no casualties. “On this day alone, Russia hit Mykolaiv, Kharkiv, Krivyi Rih, villages in the Zaporizhzhia region,”

Zelenskyy said in his nightly video address. “It hit residential areas, absolutely consciously and on purpose. ... For days on end, the brutal strikes of Russian artillery … don’t stop. Such terrorist action can be stopped only with weapons — modern and powerful ones.” Russian defense of f icia ls claimed Saturday that their forces destroyed a hangar housing US howitzers in the Donetsk region, near the town of Chasiv Yar. There was no immediate response from Ukraine. Meanwhi le, Zelensk y y d ismissed several ambassadors, including Ukraine’s ambassador to Germany, Andriy Melnyk, who has been an outspoken advocate of Kyiv’s cause but also ruffled feathers in Berlin. He was persistently critical of Germany’s perceived slowness to provide heavy weapons. He also faced criticism for an interview in which he defended Stepan Bandera, a controversial World War II-era Ukrainian nationalist. The Ukrainian Foreign Ministry issued a statement saying Melnyk was only speaking for himself. Zelenskyy said the dismissals of the ambassadors were part of a routine rotation. Melnyk had served in the post since 2015. AP

Editor: Angel R. Calso

Sri Lanka president, PM to resign after protests By KRISHAN FRANCIS The Associated Press

OLOMBO, Sri Lanka—Sri Lanka’s president and prime minister agreed to resign Saturday after the country’s most chaotic day in months of political turmoil, with protesters storming both officials’ homes and setting fire to one of the buildings in a rage over the nation’s severe economic crisis. P r i me M i n i ste r R a n i l W ic kremesinghe said he will leave office once a new government is in place, and hours later the speaker of Parliament said President Gotabaya Rajapaksa would step down Wednesday. Pressure on both men grew as the economic meltdown set off acute shortages of essential items, leaving people struggling to buy food, fuel and other necessities. Police had attempted to thwart promised protests with a curfew, then lifted it as lawyers and opposition politicians denounced it as illegal. Thousands of protesters entered the capital, Colombo, and swarmed into Rajapaksa’s fortified residence. Video images showed jubilant crowds splashing in the garden pool, lying on beds and using their cellphone cameras to capture the moment. Some made tea, while others issued statements from a conference room demanding that the president and prime minister go. It was not clear if Rajapaksa was there at the time, and government spokesman Mohan Samaranayake said he had no information about the president’s movements. Protesters later broke into the prime minister’s private residence and set it on fire, Wickremesinghe’s office said. It wasn’t immediately clear if he was there when the incursion happened. Earlier, police fired tear gas at protesters who gathered in the streets to march on the presidential residence, waving f lags, banging drums and chanting slogans. In all, more than 30 people were hurt in Saturday’s chaos. Speaker Mahinda Yapa Abeywardena said in a televised statement that he informed Rajapaksa that parliamentary leaders had met and decided to request he leave office, and the president agreed. However, Rajapaksa will remain temporarily to ensure a smooth transfer of power, Abeywardena added.

“He asked me to inform the country that he will make his resignation on Wednesday the 13th, because there is a need to hand over power peacefully,” Abeywardena said. “Therefore there is no need for further disturbances in the country, and I urge everyone for the sake of the country to maintain peace to enable a smooth transition,” the speaker continued. Opposition lawmaker Rauff Hakeem said a consensus was reached for the speaker of Parliament to take over as temporary president and work on an interim government. Wickremesinghe announced his own impending resignation but said he would not step down until a new government is formed, angering protesters who demanded his immediate departure. “Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF,” Wickremesinghe said. “Therefore, if this government leaves there should be another government.” Wickremesinghe said he suggested to the president to have an all-party government, but did not say anything about Rajapaksa’s whereabouts. Opposition parties were discussing the formation of a new government. R a j a p a k s a a p p o i nt e d W i c k remesinghe as prime minister in May in the hope that the career politician would use his diplomacy and contacts to resuscitate a collapsed economy. But people’s patience wore thin as shortages of fuel, medicine and cooking gas only increased and oil reserves ran dry. Authorities have also temporarily shuttered schools. The country is relying on aid from India and other nations as leaders try to negotiate a bailout with the International Monetary Fund. Wickremesinghe said recently that negotiations with the IMF were complex because Sri Lanka was now a bankrupt state. Sri Lanka announced in April that it was suspending repayment of foreign loans due to a foreign currency shortage. Its total foreign debt amounts to $51 billion, of which it must repay $28 billion by the end of 2027. Associated Press writers Bharatha Mallawarachi in Colombo and Krutika Pathi in New Delhi contributed to this report.

Abe’s killing haunts Japan with questions on handmade guns By YURI KAGEYAMA The Associated Press

OK YO —T he s ho ot i n g s e nt shudders through low-crime, orderly Japan: A high-profile politician gets killed by a man emerging from a crowd, wielding a handmade firearm so roughly made it’s wrapped up in tape. The 40-centimeter-long (16-inch) firearm that was used to kill former Prime Minister Shinzo Abe on Friday as he campaigned for his ruling party in Nara, western Japan, looked crude, more like a propellant made of pipes taped together and filled with explosives. A raid of the suspect’s home, a oneroom apartment in Nara, turned up several such guns, police said. Unlike standard weapons, handmade guns are practically impossible to trace, making

an investigation difficult. Such weapons are rarely used in Japan, where most attacks involve stabbings or dousing a place with gasoline and setting it ablaze, or running haywire on the street in a vehicle. Strict gun control laws likely made the suspect choose a handcrafted weapon. Tetsuya Yamagami, who was arrested on the spot, was a former member of Japan’s navy, and knew how to handle and assemble weapons. Crime experts say instructions on how to make guns are floating around on the Internet, and guns can be made with a 3D printer. Some analysts characterized the attack on Abe as “lone-wolf terrorism.” In such cases, the perpetrator acts alone, often in sympathy with certain political views, making the crime very difficult to detect in advance. The motive for Abe’s assassination

remains unclear. Japanese media reported that the suspect had developed hatred toward a religious group that his mother was obsessed about and that caused his family financial problems. The reports did not specify the group. Japan has seen attacks on politicians in the past. In 1960, Abe’s grandfather, then-Prime Minister Nobusuke Kishi, was stabbed but survived. In 1975, when then-Prime Minister Takeo Miki was assaulted at the funeral for former Prime Minister Eisaku Sato, Abe’s great-uncle, Japan set up a security team modeled after the American Secret Service. Hideto Ted Osanai, chief executive at the International Bodyguard Association in Japan, and other experts believe that the Japanese may have merely learned superficial things like escort formation rather than the prevention mindset critical to security.

“Japanese are so used to leading peaceful lives, the security guards were caught asleep,” says Yasuhiro Sasaki, president of Safety-Pro, a Tokyo-based security company. Sasaki said he couldn’t believe that no one moved to protect Abe in the seconds between the first and the second shot, a scene shown over and over on national TV. Guards should have acted by physically pulling Abe away from danger, Sasaki said. More critically, he wondered why weren’t they aware of a suspicious person approaching, drawing what could be a weapon from a bag? Isao Itabashi, chief of the research division at the Council for Public Policy, which oversees such risks, said that providing security during an election campaign was challenging when the whole point is for politicians to get close to people.

Blinken blasts China’s support for Russia, calls out Xi Jinping By Iain Marlow

S Secretary of State Antony Blinken blasted Beijing over its support of Russia after emerging from more than five hours of talks with his Chinese counterpart Wang Yi. During a meeting on the sidelines of a Group of 20 foreign ministers meeting in Bali, Indonesia, Blinken on Saturday said he told Wang that China wasn’t neutral on the Ukraine war because there’s no such thing as being neutral when there is a clear aggressor. He cited Chinese President Xi Jinping’s recent call with Russia’s Vladimir

Putin as evidence of Beijing’s ongoing support of Moscow. The exchanges were exceptionally candid and neither side held back, but they were professional in tone despite the candor, according to a senior State Department official, who asked not to be identified discussing closed-door talks. Blinken told Wang that the US views the China relationship as largely competitive, and described what that competition means—and doesn’t mean— from the American perspective, the official said. Wang shared his thoughts on Blinken’s speech in late May laying out the Biden administration’s China policy,

according to the US account. China said the talks were constructive and may help avoid “miscalculation,” while adding that US-Chinese ties aren’t “out of the difficulties” caused by former President Donald Trump’s administration. The statement by the Chinese embassy in Washington also warned the US against supporting Taiwanese independence, advised the US not to form “exclusive groupings” against China and said Washington shouldn’t meddle in China’s internal affairs, including on Hong Kong and Xinjiang. Blinken said that G-20 countries

urged Russian Foreign Minister Sergei Lavrov, who joined the meeting, to lift a blockade on grain from Ukraine to ease food shortages around the world. Blinken said he also conveyed to Wang that now was the time for China to call on Russia to end its blockade of Ukrainian ports and allow ships to export grain. “Now what you hear from Beijing is that it claims to be neutral,” Blinken said. “I would start with the proposition that it’s pretty hard to be neutral when it comes to this aggression. There’s a clear aggressor. There’s a clear victim.” Bloomberg News

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Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Monday, July 11, 2022 LEI, XIAOQI

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range:

July 11, 2022

NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S)

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s: NO.

ESTABLISHMENT

FUJIFILM OPTICS PHILIPPINES INC. 107 Prosperity Ave., CIBP-SEZ, Canlubang, City of Calamba, Laguna

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

WAKO, TSUKASA

Basic Qualification:

Vice President

20 years of experience in the same field

Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Brief Job Description: Salary Range:

KEYENCE PHILIPPINES INC. Bldg. 6, Panorama Compound 6, Lot 3, Block 5, LTI Annex, Biñan, City of Biñan, Laguna

Oversee the flow of operation of the production division, logistics and QA department

Php90,000 - Php149,999

YANABE, KEIICHI

Basic Qualification:

Japanese Account Manager

fluent in both Japanese and English (verbal and written) and more than 5 years of experience in marketing sales

Brief Job Description: Develop and execute business plans to achieve sales and targets

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

MOA CLOUDZONE CORP.

Salary Range:

HTON PAWK KHAM

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

KHWAN DIN CHO

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

KYAW SAN

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

KYI KYI HTWE

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NWE NI AYE

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NWE NI PHYU

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Php30,000 - Php59,999

SHAUK KAIN

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

NISSEN PHILIPPINES, INC. Lot 9 Blk 6, Daiichi Industrial Park, SEZ, Maguyam, Silang, Cavite

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

SUN, YUSEN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range: Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

CHY CONG PHOONG

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LE DANG NAM

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LE VAN KHAM

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NGAN PHAT SAU

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NGUYEN CONG DONG

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NGUYEN THANH NGA

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NONG QUAY SOI

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

KOSUGE, WATARU

Basic Qualification:

Chief Finance Officer

Graduate of business management course

Brief Job Description: Salary Range:

22 Brief Job Description:

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Php150,000 - Php499,999 3

MOA CLOUDZONE CORP.

TOKYOWELD PHILIPPINES INC.

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

SHWE SIN PHYO

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

TIN MAY HTWE

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

B4 L2 Bldg. 5, PTC-SEZ, Maduya, Carmona, Cavite

Responsible for all financial aspect of the company

Php150,000 - Php499,999

MISHIMA, HIROKI

Basic Qualification:

Adviser-purchasing Department

Can speak and understand both Japanese and English language

Brief Job Description: Oversee, lead, direct and facilitate overall purchasing matters

Salary Range: Php60,000 - Php89,999

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE Regional Office IV-A located at 3rd and 4th Floors, Andenson Building II, Parian, Calamba City, Laguna, within 30 days after this publication. Please inform DOLE Regional Office IV-A if you have any information on criminal offense committed by the foreign nationals.

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph

Monday, July 11, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Rate hike wakes up after 8 years

eliable power supply is important for the country’s economic growth. We have seen in the past just how fragile our power supplies can be. When electricity goes out, households are greatly inconvenienced and businesses grind to a halt. Post-pandemic, the country’s annual power consumption is seen growing at a compound annual growth rate of 5.8 percent from 82.5 terawatthour (TWh) in 2020 to 145.1TWh by 2030. To meet this growing demand, we need investors that can help increase current installed power capacity. The Electric Power Industry Reform Act (Republic Act 9136) was signed in 2001 to bring about greater efficiency in the generation, transmission and distribution of electricity. Under the Epira, only transmission and distribution utilities need a franchise authority from Congress in order to operate. Generation utilities and electricity suppliers simply have to obtain a license from the Energy Regulatory Commission (ERC) to engage in their economic activities. Meralco is the country’s largest electric distribution utility company, covering 36 cities and 75 municipalities. It provides electricity to more than 5 million customers in Metro Manila, representing approximately 55 percent of the country’s total power requirements. Under RA 9136, Meralco buys contracted power from the independent power plants. The ERC approves electric power rates charged by Meralco. On Tuesday, the Supreme Court put closure to the case that assailed the ERC’s approval of Meralco’s request to stagger collection of its rate adjustments for the November 2013 supply month. The ruling lifted a permanent injunction against the rate increase that the high court granted in April 2014 after the issuance of a series of temporary restraining orders, paving the way for Meralco to collect the rate hike after eight years. Power costs went up in November 2013 because of several factors: The Malampaya facility was on scheduled maintenance shutdown and shaved off supply from the natural gas plants, which supplies about a third of Luzon power requirements. This was aggravated by the simultaneous and unplanned outages of various generating plants. Former Bayan Muna Rep. Carlos Isagani Zarate said the Supreme Court’s decision lifting the eight-year-old injunction against a P22.64-billion rate hike sought by Meralco could not have come at a worse time. “With the prices of basic commodities still skyrocketing due to continued big time oil price hikes and the weakening of the peso, this is another unwanted burden on our people. Financial burden like this once Meralco imposes this new power rate hike—on top of the already high electricity rates—may already break the Filipino consumers’ back,” Zarate said. Bayan Muna and the National Association of Electricity Consumers for Reforms filed the case at the High Court, challenging the supposed lack of due process and the ERC’s alleged grave abuse of discretion in approving the power rate hike. In a close 6-5 vote, the tribunal said the ERC did not commit grave abuse of discretion when it approved the staggered increase, since it acted within the confines of its authority. The Alyansa ng mga Grupong Haligi ng Agham at Teknolohiya para sa Mamamayan said the Supreme Court’s decision considered the welfare of consumers. AGHAM President Angelo Palmones said the ruling recognized that the ERC protected consumers’ interests when it allowed the staggered recovery of the adjustment charges and, at the same time, denied the request for carrying costs. Disagreeing with the Supreme Court verdict, Zarate said: “We still maintain our position that the energy players then gamed the electricity stock market that resulted in the highest rate hike at additional P4.15 per kwh. Meralco, as a monopoly in its big area of operation, also abused its dominant position to the prejudice of consumers.” Defeated at the Supreme Court, the petitioners are now trying to bring their case to the court of public opinion. We respect their right to criticize the SC decision and say what they like. But they should stop throwing serious allegation of collusion with no clear basis, as this not only disparages the energy industry but also sows the seed of distrust among consumers. Distrust adversely impacts how society functions, as poet Anthony Liccione said: “Distrust is like a vicious fire that keeps going and going, even put out, it will reignite itself, devouring the good with the bad, and still feeding on empty.”

A crucial time Atty. Jose Ferdinand M. Rojas II

RISING SUN

ne of the things that concern us at this time as far as the Philippine economy goes is the country’s current debt stock, which is now above the recognized international threshold of 60 percent of the economic output. The new administration’s Finance chief Benjamin Diokno, however, does not want us to lose sleep over this. He said the Philippines simply has to outgrow its debt; in other words, grow faster to be able to outpace our borrowings. At the same time, the Marcos administration is seeking a $300 million loan from the World Bank “to finance a digital transformation program.” According to Diokno, digitalization will improve tax administration and help the government increase its revenue. It is also expected to initiate investment and further move the nation towards economic recovery, which includes bringing our budget deficit back to

pre-pandemic levels, or about 3 percent of GDP, by 2028. While it may seem that President Marcos and his economic managers are not too keen on imposing new or higher taxes to be able to manage the country’s debt, unlike the previous administration’s economic team, the Marcos administration is reported to be planning on taxing digital transactions and single-use plastics. It’s all in the spirit of fairness, said Diokno,

BusinessMirror A broader look at today’s business

Thomas M. Orbos

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since we all pay tax whenever we buy products from regular stores. “I think you should also pay a tax if it’s online sales,” he said. This, for sure, is going to increase the burden on the consumers who at the moment are bearing the financial weight of rising fuel prices, a weak peso, and high inflation leading to increased cost of basic commodities. Despite this, the government is still optimistic that the economy will grow by 6.5 percent to 7.5 percent this year, slightly lower than the previous 7 percent to 8 percent projection. Diokno also said the expected debtto-GDP ratio will ease to 61.8 percent by the end of this year. This has ballooned to 63.5 percent as of end-March, under the Duterte

administration, as the government borrowed more to finance its pandemic response efforts. The Department of Budget and Management is currently working on its 2023 spending plan to be able to submit it to Congress by next month’s deadline, on August 22. DBM chief Amenah Pangandaman said that the budget will reflect the government’s priority areas, including agriculture, power and energy, and infrastructure. The current budget will stick to the P5.268-trillion cap recommended by the previous Development Budget Coordination Committee “to ensure that prudent fiscal management is observed.” Along with the rest of the world, the whole nation waits and watches how BBM and his handpicked team of national leaders are going to surmount the numerous challenges the country is facing. The whole world reels from the economic effects of the Ukraine-Russia war, as well as the instability, brought about by the pandemic—the Philippines under a new government must do its best during this crucial time.

Illegal phishing activities in the Philippine digital sea

Since 2005

Founder

Along with the rest of the world, the whole nation waits and watches how BBM and his handpicked team of national leaders are going to surmount the numerous challenges the country is facing.

S if we don’t have enough problems already, but now we are suddenly subjected to a barrage of SMS spam messages ranging from job offers, selling of items at super-low prices, to winning lotteries we know we did not join. Irritating, indeed, and we dismiss them as today’s version of yesterday’s telemarketing nuisance, testing our patience and always eating up our mobile data space. However, unlike phone marketeers in the past, this digital invasion goes beyond just aggressive selling. Most of these spam messages are phishing activities that attempt to access our personal identification, which then can be exploited by cybercriminals to include our bank details, credit cards and our financial history. We now ask—how did these senders of spam messages get our mobile phone information? Is this just simply random and sporadic? And what have the telecoms companies done to combat this? What about the government agencies tasked to regulate the digital highway and guarantee our digital privacy, in particular the National Telecommunications Commission and the National Privacy Commission? Though such incidents are nothing new, phishing activities began increasing towards the end of last year and escalated to its current levels right after the elections. In June of this year, Globe announced the blocking of more than 71 million spam messages and deactivated 5,670 mobile phone numbers. PLDT, the other telco giant, blocked more than 23 million malicious messages around the same period. There are of course the many illegal text

blasters that were used during the campaign. But according to a former senior national privacy official, these massive text waves are caused by data brokers that work between telcos and entities that look at data banks to reach to their markets. In the early years of mobile marketing, these activities were closely guarded by the telcos that allow VAS (value added service) operators to have access to their subscribers for their promotions activities. But time has

Most of these spam messages are phishing activities that attempt to access our personal identification, which then can be exploited by cybercriminals to include our bank details, credit cards and our financial history. We now ask— how did these senders of spam messages get our mobile phone information?

a way of changing things. Now we have a proliferation of data brokers that have gathered the subscriber information mined from third party sources. This happens usually during data gathering activities such as when we submit our numbers to join a raffle or an in-house promotion of a product. There is even talk that such data exploitation emanated from data acquired during the pandemic when all were required to submit their contact information for the needed contact tracing at that time. But going back to the massive spam tsunami we are now experiencing, it is possible that all of these are connected to global crime syndicates operating in other countries, which makes it all the more worrisome. It is no different to a physical invasion of a sovereign nation, but in this case, the hostile forces are now deeply entrenched in our digital shores. So, going back to the questions we need to ask. What then are we doing about this? How about actions from

the telcos and, more importantly, our regulators? Too bad the SIM Card Registration Act was vetoed by the last administration, as this would have been a massive barrier to such cybercrime activities. But the loss of its enactment must not give a reason for the government agencies tasked to ensure our digital safety not to move. First, these digital brokers or aggregators need to be reined in. Have them register and provide information on the sources of their data. For the telcos, instill better safeguard measures similar to what they did before when value added service providers were initially allowed access to their data. Telcos cannot just be tollways, extracting fees for the highways. They have to ensure digital order and safety. As for the government bodies, there are laws to enforce. Phishing is punishable by imprisonment of up to 10 years, though difficult to enforce. Enforcement can lessen such scams. A case in point was the massive data collected during the pandemic for contact tracing purposes. Should not those who collected them, including the many LGUs that made their own database, erase them or at the very least inform the owners of these numbers that such retention be renewed with their permission after 28 days as provided for by the law? We live in a world where our lives are duplicated, replicated or threatened more in our digital universe. See “Orbos,” A9

www.news.businessmirror@gmail.com

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

Opinion BusinessMirror

Meeting with the ‘enemy’ Siegfred Bueno Mison, Esq.

THE PATRIOT

By Bharatha Mallawarachi And Paul Wiseman | The Associated Press

OLOMBO, Sri Lanka—Chamila Nilanthi is tired of all the waiting. The 47-year-old mother of two spent three days lining up to get kerosene in the Sri Lankan town of Gampaha, northeast of the capital, Colombo. Two weeks earlier she spent three days in a queue for cooking gas—but came home with none. “I am totally fed up, exhausted,’’ she said. “I don’t know how long we have to do this.’’ A few years ago Sri Lanka’s economy was growing strongly enough to provide jobs and financial security for most. It’s now in a state of collapse, dependent on aid from India and other countries as its leaders desperately try to negotiate a bailout with the International Monetary Fund. The collapse has led to political turmoil and protests, and on Saturday demonstrators stormed the residences of both President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe. The speaker of Parliament later said Rajapaksa had agreed to resign Wednesday, and Wickremesinghe said he too would step down once a new government is formed. What’s happening in this South Asian island nation of 22 million is worse than the usual financial crises seen in the developing world: It’s a complete economic breakdown that has left people struggling to buy food, fuel and other necessities and resulted in unrest and violence. “It really is veering quickly into a humanitarian crisis,’’ said Scott Morris, a senior fellow at the Center for Global Development in Washington. Such disasters are more commonly seen in poorer countries, in sub-Saharan Africa or in war-torn Afghanistan. In middle-income countries such as Sri Lanka, they are rarer but not unheard of: 6 million Venezuelans have fled their oilrich country to escape a seemingly unending political crisis that has devastated the economy. Indonesia, once touted as an “Asian Tiger’’ economy, endured Depression-level deprivation in the late 1990s that led to riots and political unrest and swept away a strongman who had held power for three decades. The country now is a democracy and a member of the Group of 20 biggest industrial economies. Sri Lanka’s crisis is largely the result of staggering economic mismanagement combined with fallout from the pandemic, which along with 2019 terrorism attacks devastated its important tourism industry. The coronavirus crisis also disrupted the flow of remittances from Sri Lankans working abroad. The government took on big debts and slashed taxes in 2019, depleting the treasury just as Covid-19 hit. Foreign exchange reserves plummeted, leaving Sri Lanka unable to pay for imports or defend its beleaguered currency, the rupee. Ordinary Sri Lankans—especially the poor—are paying the price. They wait for days for cooking gas and petrol in lines that can extend more than 2 kilometers (1.2 miles). Sometimes, like Chamila Nilanthi, they go home with nothing. At least 16 people have died so far waiting for gasoline. One was a 63-year-old man found inside his vehicle on the outskirts of Colombo. Unable to get fuel, some have given up driving and resorted to bicycles or public transportation to get around. The government has closed urban schools and some universities and is giving civil servants every Friday off for three months to conserve fuel and allow them time to grow their own fruit and vegetables. Food price inflation is running at 57 percent, according to government data, and 70 percent of Sri Lankan households surveyed by UNICEF last month reported cutting back on food consumption.

Many families rely on government rice handouts and donations from charities and generous individuals. Unable to find cooking gas, many Sri Lankans are turning to kerosene stoves or cooking over open fires. Affluent families can use electric induction ovens for cooking, unless the power is out. But most Sri Lankans can’t afford those stoves or higher electric bills. Sri Lankans furious over fuel shortages have staged protests, blocked roads and confronted police. Fights have broken out when some try to jump ahead in fuel lines. Police have attacked unruly crowds. One night in June, a soldier was seen assaulting a police officer at a fuel station in a dispute over gasoline distribution. The police officer was hospitalized. The police and military are separately investigating the incident. The crisis is a crushing blow to Sri Lanka’s middle class, estimated to account for 15 percent to 20 percent of the country’s urban population. Until it all came apart, they enjoyed financial security and increasing standards of living. Such a reversal is not unprecedented. In fact, it looks like what happened to Indonesia in the late 1990s. The US Agency for International Development—which runs aid projects for poor countries—was preparing to close up shop in the Indonesian capital, Jakarta; the country didn’t seem to need the help. “As one of the Asian Tigers, it had worked its way off the aid list,’’ said Jackie Pomeroy, an economist who worked on a USAID project in the Indonesian government before joining the World Bank in Jakarta. But then a financial crisis—triggered when Thailand suddenly devalued its currency in July 1997 to combat speculators—swept across East Asia. Plagued by widespread corruption and weak banks, Indonesia was hit especially hard. Its currency plummeted against the US dollar, forcing Indonesian companies to cough up more rupiahs to pay back dollar-denominated loans. Businesses closed. Unemployment soared. Desperate city dwellers returned to the countryside where they could grow their own food. The Indonesian economy shrank more than 13 percent in 1998, a Depression-level performance. Desperation turned to rage and demonstrations against the government of Suharto, who had ruled Indonesia with an iron fist since 1968. “It very quickly rolled into scenes of political unrest,’’ Pomeroy said. “It became an issue of political transition and Suharto.’’ The dictator was forced out in May 1998, ending autocratic rule. Although they live in a democracy, many Sri Lankans blame the politically dominant Rajapaksa family for the disaster. “It’s their fault, but we have to suffer for their mistakes,” said Ranjana Padmasiri, who works as a clerk at a private firm. Prominent Rajapaksas have resigned—former Prime Minister Mahinda Rajapaksa and Basil Rajapaksa, who was finance minister. Protesters demanding that President Rajapaksa also step down have camped outside his office in Colombo for more than two months. The president’s decision to resign came amid the biggest day of demonstrations in the country. Merely resigning, Padmasiri said, isn’t enough. “They can’t get away easily,’’ he said. “They must be held responsible for this crisis.’’ Wiseman reported from Washington.

ith new Cabinet members and other presidential appointees warming their seats, getting to know the lay of the land, and selecting their own team members in their respective departments, we expect a revamp of some sorts. After all, every leader would prefer a management style likely different from his predecessor. Incidentally, on June 30, 2022, an “overhaul” of sorts manifested in the issuance of President BBM’s Memorandum Circular (MC) No. 1 ordering all coterminous officials from the previous administration to vacate their posts. The revamp apparently takes two facets: some people taken in, a few others weeded out. The appointing and selection process could be just as complex. Some might be open-minded to the point of being colorblind and tap competent staff, regardless of political affiliations. Others might be vindictive and simply remove or isolate those who did not vote for the appointing power. Either way, these leaders would soon be “meeting with the enemy” and convince them to follow one drumbeat. As with any organization, every commencement is rendered more perilous when “newcomers” are seen as immediate “foes.” Speaking of greenhorns in the government, like Secretary Jaime Bautista of DOTr, Secretary Erwin Tulfo of DSWD, and Secretary Susan Ople of DMW, I can sense that their unfamiliarity in the public sector will be more of an advantage. They can better understand the plight of those businesses and concerns of the private sector, having previously interacted with government regulators from the other side. To some, their previous regulators can be perceived as “enemies.” Aviation regulators gave then PAL president now Secretary Bautista quite a few challenges in terms of slot timings and flight scheduling, to name a few. Undeterred, PAL continued to be the airline of choice under then

PAL president, now DOTr Secretary Bautista. Essentially, the changing of positions, so to speak, has inevitably led to an orchestration of standing— for what was once his fragile footing has now become Secretary Bautista’s strong foothold. The adversary sentiment could ring true, as it perennially does, in offices where appointees differ in qualifications vis-à-vis their appointments. Long have we heard of outsiders who are political “accommodees” (yes, they use such a term) being appointed to CES (Career Executive Service) positions at the expense of career officials; more often in violation of the law (Presidential Decree 1). Even a Barangay Captain has been appointed to the position of Director IV (a factual story), overtaking a career executive service official, only because of political connections. This creates both demoralization and tension within the office. This is not to say, however, that the President should be prevented from appointing officials that he wants to serve in third level positions in government. However, that should be done in accordance with existing laws—once appointed these third level officials must go through the process of becoming a career executive service officer

Monday, July 11, 2022

May our new government officials, whether appointed or elected, win their “enemies,” instead of succumbing to mankind’s tendency of creating their own problems, becoming the enemy themselves. (CESO). Such is the ideal and legally mandated set-up. It cannot be gainsaid though that in most instances, an abbreviation or a contravention of the rules becomes prevalent in some agencies of the government, creating yet again, “enemies” within the organization and amongst the officials and employees. For a newcomer or not, public service often comes with that hefty price in social relationships. Friction is inevitable. And almost always, everybody is forced to take that treacherous climb until the desired results are revealed and achieved. In Biblical history, Joseph was not only a newbie to the Egyptian bureaucracy but was also given that life-changing opportunity to serve his “enemies.” With his reliance on our Almighty God, Joseph managed to successfully administer the affairs of Egypt for 80 years, as viceroy or second in command to Pharaoh. A part of Joseph’s story highlighted the proper attitude towards revenge. Out of envy, he was sold as a slave by his jealous brothers. Over time, they lost contact of each other until famine struck. When the brothers had to go to Egypt to get supplies, Scripture states that when Joseph’s brothers first stood before him in Egypt, “Joseph recognized his brothers, but they did not recognize him.” (Genesis 42:8). Upon discovering Joseph’s identity, the brothers expected revenge. Much to their surprise, Joseph did not utilize his imperial powers to exact revenge against them. Joseph told them, “You intended to harm me, but God intended it for good to accomplish what is now being done, the saving of many lives.” (Genesis 50:20). Our enemies may have been intended to hurt us, but, in the end, it serves a

higher purpose. The concept of an enemy is a rather universal phenomenon. Just as we have friends, there are also people who we simply abhor or regard as critical opponents, people who ruffle our feathers. The biblical Joseph had not just one enemy, but ten. And they weren’t his coworkers or staff members, they were his older brothers. And his brothers didn’t just beat him at any card game or jump out of dark corners to scare him. His brothers hated him so much that they actually sold him into slavery. Yet Joseph’s response was not revenge but love, understanding, respect. Love is indeed a powerful force. As Martin Luther King Jr. stated, “Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.” Keep your friends close; your enemies closer, they say. But Jesus’ followers abide by the commandment of loving your neighbor as much as you love yourself. And, the term neighbors include friends and foes. Joseph did that to his brothers who wronged him. I wish the same for our incoming public officers, that they may have that Christ-like mindset not to be vengeful and view every staff in the agencies as neighbors. On this note, it may be apt to conclude that what every Juan de la Cruz hopes for with the entry of “foes and friends” alike is a replication of the statement once hoisted by Master Commandant Oliver Perry during the War of 1812. When the United States Navy defeated the British Navy in the Battle of Lake Erie, Perry wrote to General William Henry Harrison, “We have met the enemy and they are ours,” indicating victory. May our new government officials, whether appointed or elected, win their “enemies,” instead of succumbing to mankind’s tendency of creating their own problems, becoming the enemy themselves. Meeting with the enemy is best handled with kindness, just how Joseph did.

Anxiety grows for Ukraine’s grain farmers as harvest begins

By Hanna Arhirova | The Associated Press

HURIVKA, Ukraine—Oleksandr Chubuk’s warehouse should be empty, awaiting the new harvest, with his supply of winter wheat already shipped abroad. Instead, his storage bins in central Ukraine are piled high with grain he cannot ship out because of the war with Russia.

With Russia’s blockade of Ukraine’s Black Sea ports, the fate of the upcoming harvest in Ukraine is in doubt. The UN Food and Agriculture Organization says the war is endangering food supplies for many developing nations and could worsen hunger for up to 181 million people.

The green spikes of wheat are already ripening. Soon, the horizon will look like the Ukrainian flag, a sea of gold beneath a blue sky. Chubuk expects to reap 500 tons, but for the first time in his 30 years as a farmer, he’s uncertain about what to do with it. “Hope is the only thing I have now,” he said. The war has trapped about 22 million tons of grain inside Ukraine, according to President Volodymyr Zelenskyy, a growing crisis for the country known as the “breadbasket of Europe” for its exports of wheat, corn and sunflower oil. Before Russia’s invasion, Ukraine could export 6 million to 7 million tons of grain per month, but in June it shipped only 2.2 million tons, according to the Ukrainian Grain Association. Normally, it sends about 30 percent of its grain to Europe, 30 percent to North Africa and 40 percent to Asia, said Mykola Horbachov, head of the association. With Russia’s blockade of Ukraine’s Black Sea ports, the fate of the upcoming harvest in Ukraine is in doubt. The UN Food and Agriculture Organization says the war is endangering food supplies for many developing nations and could worsen hunger for up to 181 million people.

Meanwhile, many farmers in Ukraine could go bankrupt. They are facing the most difficult situation since gaining independence in 1991, Horbachov said. Turkish President Recep Tayyip Erdogan has said his country is working with the UN, Ukraine, and Russia to find a solution, offering safe corridors in the Black Sea for wheat shipments. For now, Ukraine is trying lesseffective alternatives to export its grain, at least to Europe. Currently, 30 percent of exports go via three Danube River ports in southwestern Ukraine. The country also is trying to ship grain via 12 border crossings with European countries, but trucks must wait in line for days, and Europe’s infrastructure cannot yet absorb such a volume of grain, Horbachov said. “It’s impossible to build such infrastructure in one year,” he told The Associated Press. Russia’s invasion also caused transportation costs to soar. The price to deliver this year’s harvested barley to the closest Romanian port, Constanta, is now $160 to $180 per ton, up from $40 to $45. And yet a farmer selling barley to a trader gets less than $100 per ton. The losses are piling up, along

with the harvest. “Most of the farmers are running the risk of becoming bankrupt very soon. But they don’t have any other option but to sell their grain cheaper than its cost,” Horbachov said. On top of such challenges, not all farmers can sell their grain. Before the invasion, Chubuk could sell a ton of wheat from his Kyiv region farm for $270. Now he can’t find a buyer even at $135 per ton. “The whole system backs up,” including storage options, said James Heneghan, senior vice president at Gro Intelligence, a global climate and agriculture data analytics company. The system was meant to keep Ukraine’s exports flowing, not store them. Without money coming in for grain, future harvests are challenging. “Farmers need to purchase fertilizers, seeds, diesel, pay the salary,” Horbachov said. “Ukrainian farmers can’t print money.” The country hasn’t yet run out of storage as the harvest begins. Ukraine has about 65 million to 67 million tons of commercial grain storage capacity, according to Horbachov, although 20 percent of that is in

Orbos . . .

media, the majority of us are still digital infants who can easily succumb to cyber predators. Though indeed we need to be responsible for our digital lives, should it not be the government digital protec-

tors and regulators, as well as the telcos, that should watch over our safety? Just like road safety signs and traffic enforcement by the government in our physical highways, it would still be our government

continued from A8

Yet beyond knowing how to use our phones and engaging on social

Russian-occupied territories. Farmers themselves can store 20 million to 25 million tons, but some of that is also in occupied areas. By the end of September, when the harvest of corn and sunflower seeds begins, Ukraine will face a shortage of storage capacity. The FAO recently announced a $17 million project to help address the storage deficit. Heneghan of Gro Intelligence noted that one temporary solution could be providing farmers with silo bags for storage. In eastern and southern regions near the front line, farmers continue to work their fields despite the threat to their lives. “It can be finished in a moment by bombing, or as we see now, the fields are on fire,” said Yurii Vakulenko in the Dnipropetrovsk region, black smoke visible in the distance. His workers risk their lives for little return, with storage facilities now refusing to take their grain, Vakulenko said. Ukraine had a recordbreaking grain harvest last year, collecting 107 million tons. Even more had been expected this year. Now, in the best-case scenario, farmers will harvest only 70 million tons of grain this year, Horbachov estimated. “Without opening the [Black Sea] ports, I don’t see any solution for Ukrainian farmers to survive,” he said. “And if they don’t survive, we won’t be able to feed African countries.” Francesca Ebel, Valerii Rezik and Oleksandr Stashevskyi in Ukraine and Aya Batrawy in Dubai, United Arab Emirates, contributed.

institutions that should be there to make our digital journey as safe as possible. The author may be reached at tmo45@georgetown.edu

A10 Monday, July 11, 2022

WITH GLOBAL CONTAINER WOES, RETAILERS TOLD TO STRATEGIZE By Andrea E. San Juan

HE Philippine Retailers Association (PR A) urges retailers to strategize as the lead time in procuring and building their inventory has been prolonged due to the global container shortage. PRA President Rosemarie B. Ong told reporters at the PRA Q2 2022 General Membership Meeting on Thursday, “I think the lead time has been prolonged. So retailers have to strategize.” In the case of Wilcon Depot, Ong, who’s also the Senior Executive Vice President-Chief Operating Officer of Wilcon DepotInc. said, “we double our orders, we make sure we have items on the shelves.” Wilcon Depot, the Philippines’s leading home improvement and construction supply retailer, won the 2022 Retail Asia Awards for Domestic Retailer of the Year category. The prestigious award recognizes the retailers that are able to navigate their way through industry challenges such as the everchanging customer demand and e-commerce boom, while delivering exceptional value to consumers and maintaining healthy revenues. In relation to lead time, Ong explained the situation: “For example,before, two weeks, [but that has turned to] one month [now] it has doubled.” But the PRA leader emphasized that the lead time also depends on the origin of the orders. After the slowdown of eco-

nomic activities during the twoyear pandemic, “Suddenly, all the economies are ramping up, the orders are coming in.” Ong stressed that the logistics issues have been affecting everybody, adding that “it’s a world container shortage” because the world is ramping up already. She also cited the challenges on fuel. Since fuel plays a crucial role in logistics, it affects the entire supply chain, the PRA head said, noting that it’s a domino effect. Last month, Philippine Exporters Confederation Inc. (PhilExport) President Sergio R. OrtizLuis Jr. told the BusinessMirror in a text message that many shipping lines did not field many of their boats during the pandemic. In fact, as of last month, some are still not in full operation. The PhilExport chief noted that priority is being given to bigger economies that can guarantee bigger volumes. Meanwhile, Ortiz-Luis said, developing countries must wait in line and pay higher costs. On price increases, Ong noted that since the cost of fuel increased, some retailers were forced to resort to price increases. “So what’s happening now is you pass on based on the cost. Let’s say you have inventory, of course you pass it. The prices of the incoming batch are affected.” Some factories are also affected because of the cost of raw materials, according to Ong. “We cannot generalize everything. It depends on the sector, where the source is coming from.”

Tieza eyes change in Tourism Act to keep asset sale proceeds By Ma. Stella F. Arnaldo

@akosistellaBM

Special to the BusinessMirror

HE Tourism Infrastructure and Enterprise Zone Authority (Tieza) is seeking to revise the Tourism Act of 2009 to be able to retain proceeds from the sale of its assets. This developed as Tieza Chief Operating Officer Mark Lapid told the BusinessMirror many of the agency’s projects “remain suspended due to the low collection of travel taxes,” from which the government corporation derives its operating funds. In 2020, Tieza had to give up its funds for use in the government’s Covid-19 fight under Bayanihan One, which put many of its projects on hold. Some funds, however, were set aside last year to keep ongoing projects. (See, “Tieza eyes completion of 35 ongoing projects,” in the BusinessMirror, February 9, 2021.) In June 2022, travel taxes collected from departing passengers from the Philippines was P197

million, up from the P24 million at the start of the year. Lapid said their target collection for the year is P1.2 billion, still a far cry from the P7.2 billion that they collected, prepandemic, in 2019. Under the Republic Act 9593 (Tourism Act of 2009), only 50 percent of the travel taxes remain with Tieza, formerly the Philippine Tourism Authority (PTA). The rest are shared with the Commission on Higher Education (40 percent of total), and the National Commission for Culture and the Arts (10 percent). Tieza is the infrastructure arm of the Department of Tourism (DOT), and has been known in the past as a favored source of funding for pet projects—not necessarily tourism-related—of lawmakers

and other politicians.

Sale proceeds for its own

LAPID also expressed hope that certain provisions in RA9593 which pertain to the sale of its assets, will be revised. “We’ve asked the help of the Secretary [Christina Garcia Frasco] to revise these provisions so we can retain the proceeds from the sale. Imagine, we’ve invested in them, maintained them, but when we sell them, the proceeds will go to the TPB [Tourism Promotions Board],” he said. The TPB is the marketing arm of the DOT and tasked to oversee the Tourism Promotions Trust, funded from the sale or lease of PTA assets. The law likewise mandates that local government units where these PTA assets are located “have the right of first refusal” in their sale. However, some assets considered “cultural treasures and heritage sites such as the Banaue Hotel and similar assets” can be retained under Tieza’s management and preservation. The pandemic, however, affected the sale of these assets, said Lapid. “While we had interested buyers, because of the pandemic, they may have lost interest,” he said. Aside from the Banaue Hotel and Youth Hostel (BHYH), Tieza assets also include: Balicasag Is-

DOJ orders prosecutor to recall theft raps vs Taiwanese aviation firm By Joel R. San Juan @jrsanjuan1573

HE Department of Justice (DOJ) has ordered the Office of the City Prosecutor of Pasay City to withdraw the qualified theft complaint filed before the trial court by businessman Christopher Pastrana against the officials of Taiwanese aviation firm and its officials that repossessed a $3.7-million Airbus helicopter over alleged violations of his contractual obligations. In an 11-page joint resolution handed down last June 27, the DOJ directed the Pasay City state prosecutor to withdraw the complaint lodged by the Pastrana-owned CAPP Industries Inc. against Ricardo Liao, Molly Tseng, Hunto Chang, and Jack Pang, officials of the Chailease Financial Services Co. based in Taiwan. Also ordered to be withdrawn is the qualified theft complaint filed against Robert Reguero of Philjet Aero Charter Corp. “In the absence of a clear proof that complainant-appellant is the lawful owner of the aircraft, respondents cannot be charged for qualified theft. For failure of the complainant appellee to prove that there were misrepresentations committed by the respondents, we also cannot find probable cause for estafa,” the DOJ said. On September 22, 2022, the Pasay City Prosecutor’s Office found probable cause to charge the respondents for qualified theft based on the complaint filed by CAPP. CAPP alleged that it entered into a helicopter purchase agreement with Starline Global Industries Pte. Ltd. (Starline) represented by Thierry Tea for the importation of a brand-new Airbus Helicopter H130. Upon execution of the agreement, the complainant said it im-

mediately paid the amount of $700,000 as down payment. Initially, the balance of $3 million was supposed to be financed through a loan from a reputable bank or a financial institution. However, as a condition to the aircraft purchase, CAPP was made to enter into three subsidiary contracts with Starline’s affiliated companies. CAPP entered into an Aircraft Lease Agreement with Chailease International Financial Services Co., Ltd. (Chailease), which was represented by the respondents, to finance the balance of the purchase price of the aircraft for five years. CAPP resisted the repossession and lodged its cr imina l complaint in September last year against the Taiwanese businessmen, along with Reguero of Philjet, the designated “operator” or maintenance service provider for the aircraft. It claimed that all the subsidiary agreements which were supposed to last until October 2021 were prepared by the respondents and that during the five-year term of the contract, it paid interest payments to Chalilease, Philjets, for the management of aircraft, and Airbus for the repair and maintenance. The last payments made by CAPP to Chailease were in November 2020 and February 2021. T he DOJ, however, upheld Chailease’s argument that under its financial lease agreement with complainant CAPP, Chailease was the owner-lessor of the aircraft while the CAPP was the lessee until the sale was consummated. However, CAPP allegedly defaulted on some of its contractual obligations under the lease agreement, prompting Chailease to repossess the Airbus chopper “to protect its rights.” Continued on A4

land Dive Resort, Club Intramuros Golf Course, Gardens of Malacasag Eco-Tourism Village, Intramuros and Rizal’s Bagumbayan Light Sound Museum, Zamboanga Golf Course and Beach Park, the Iloilo Convention Center, among others.

Aid to stranded tourists

MEANWHILE, Lapid reported to Frasco over the weekend that a landslide eroded and damaged the side service access road of the 81room BHYH, following nonstop rains in the province on July 7. He said another landslide happened by the hotel’s main entrance. No guests were harmed during the landslide, according to a news statement from the DOT, and cleaning was already underway. Frasco instructed the hotel’s use to be temporarily suspended to ensure the safety of the guests and its personnel. Earlier, Frasco reached out to Banaue Mayor Joel Bungallon to offer free transportation to stranded tourists, and any other assistance the LGU may need. According to the DOT-Cordillera Administrative Region, of the 55 domestic tourists from nine accommodation establishments (AEs) initially reported stranded, only a few remained in their respective AEs as of Saturday.

‘Rush to F2F for classes must consider transport gap’

HE Passenger Forum, a transport and commuter advocacy network, cautioned the government against rushing to resume face-to-face (F2F) classes, saying that the current transport crisis will prohibit the success of such an initiative. Primo Morillo, the group’s convener, said the country’s metropolitan area “is not ready for a shift to face-to-face classes,” advising the Department of Education to (DepEd) to delay its plans of resuming on-site education in September. “While we understand that many sectors are already calling for a return to face-to-face classes, we are just saying that the government should be wary of the additional demand to our already heavilyburdened public transport system. This problem needs to be addressed for us to successfully phase back into normal classroom-based education,” he said. To recall, Malacañang announced the phased transition of face-to-face classes starting September, after Vice President and Education Secretary Sara Zimmerman Duterte proposed a full on-site setup by November. “The announcements from the Palace mean we have about two months to solve our public transport issues or at least provide some immediate relief to the plight of our commuters. One of the reasons why students and teachers want a shift to F2F is due to the stress they get from online classes,” Morillo said. He added: “Their stress will just shift from in front of their laptops to our sidewalks and PUVs if we ignore the connection between the transport crisis and our target to return to F2F. Worse, physical fatigue will add to the mental exhaustion of our students and teachers.” TPF and other transport groups have described the current state of the country’s transport sector as in a crisis. Transport workers have decided to stop plying their routes because of the skyrocketing fuel prices. The BusinessMirror sought the comment of Department of Transportation (DOTr) Secretary Jaime J. Bautista, but his counsel advised that the Cabinet official will reply today, Monday, after meeting with his undersecretaries. Lorenz S. Marasigan

Companies

Editor: Jennifer A. Ng

Monday, July 11, 2022

Meralco, San Miguel units want to adjust PSA prices By Lenie Lectura

@llectura

he staggering increase in fuel prices prompted two power units of San Miguel Corp. (SMC) and the Manila Electric Co. (Meralco) to seek regulatory approval for a temporary price adjustment intended for cost recovery under their 2019 power supply agreements (PSA). Energy Regulatory Commission (ERC) Chairperson Agnes VST Devanadera confirmed that Meralco and South Premiere Power Corp. (SPPC) and San Miguel Energy Corp. (SMEC) filed a joint motion for a temporary price adjustment of their PSAs that underwent competitive auction process (CSP). The motion is still under review. “This is not yet ripe for decision. We are taking note of the appeal. On the other hand, we are also looking at the value chain, what is equitable. The hearings

are ongoing,” said the ERC chief. SPPC is supplying Meralco 670 megawatts (MW) for 10 years starting December 26, 2019 until December 25, 2029. SPPC’s bid offer price stood at P4.6314 per kilowatt hour (kWh). SMEC, meanwhile, is supplying 330MW to Meralco over the same period at a bid offer price of P4.6314 per kWh. Aside from the two SMC units, Phinma Energy Corp., which is now ACEN Corp., also won a contract to supply Meralco with 200MW at a

rate of P4.7450 per kWh for 10 years. The resulting prices from the CSP held in September 2019 were significantly lower than Meralco’s average generation during that time of about P5.84 per kWh. Meralco said then that the new supply agreements could lead to savings of around P0.28 per kWh or P9.46 billion annually for a 10-year period. Such CSP presented a massive step away from Meralco’s other power supply contracts at that time allowing fuel cost pass thru from the power generators. However, commodity fuel prices have skyrocketed and at unprecedented levels mainly as a result of the war in Ukraine. Meralco said SMC units claim they are incurring huge losses due to the continued increase of fuel prices. In addition, the Ilijan plant experienced unexpected deration in its 1200M capacity as a result of unilateral gas restrictions from the Malampaya gas wells. This forced SPPC to source from the Wholesale Electricity Spot Market (WESM)—which is already affected by tight and aging power supply sources in the face of a steadily increasing demand—to sup-

ply Meralco for its contract capacity. Their joint motion for price adjustment covers the months of January to May this year. These unforeseen circumstances could not have been contemplated by the parties at the time of the execution of their power supply contracts which then led to significant losses from SMEC and SPPC endeavoring to supply their contract capacities under their respective PSAs. “SMC wants to recover a portion of actual fuel costs without any margin. We are concerned that the continued implementation of our PSAs will be affected once SMC suffers huge losses, which could force it to stop delivering power to our customers,” said Meralco Head of Regulatory Management Jose Ronald Valles. Valles said Meralco could not afford to lose these PSAs, which supply more than 1200MW baseload and mid-merit capacities. “If SMC decides to terminate our PSAs, our customers will inevitably suffer. Our PSAs provide any such claim will need regulatory approval. Hence, we have elevated the matter to ERC for their evaluation and consideration,” said Valles.

Alfamart to expand store network By VG Cabuag @villygc

lfamart Philippines, a minimart franchise owned by SM Retail of the listed firm SM Investments Corp., said it is scouting for available spaces in terminals and residential communities as it plans to expand its store network to 1,400 by the end of the year. The SM Group said Alfamart, which celebrated its eighth year anniversary last month, wanted to play a big role in community development by being the provider of daily essentials in the neighborhoods and

by supporting local entrepreneurs. “Our dream for every Alfamart store is to help the local community through employment and also creating opportunities for the local MSMEs (micro, small and medium enterprises),” said Harvey T. Ong, Alfamart’s COO. Alfamart, an Indonesian brand, opened its first store in the Philippines in 2014, along with a flurry of other convenience store brands that entered the country at the time. Most of those brands, however, have stopped their aggressive expansion, mostly located in the city centers, due to cutthroat competition.

Alfamart, meanwhile, has opened more than 500 new stores during the past two years since the pandemic started in 2020. “This health crisis reinforced our role and responsibilities to the communities. Throughout the tightest of lockdowns, we decided to remain open and continued with our expansion. As a result, we created income opportunities for the landlords that own space and contractors that build the stores. In this manner, Alfamart’s expansion has created over 4,000 jobs over the last two years,” Ong said. Through partnerships with local

property owners, Alfamart hopes to open more of what it called “super minimarts” in communities across Luzon. “Every time an Alfamart goes to these underserved communities, we become part of their neighborhood. If you take a look at our regular shoppers, they don’t need to be fully made up to be here because they feel at home in our stores. We become an extension of their pantry,” Ong said. “By opening stores close to where our customers live and offering them a wide assortment of essential merchandise, we hope to uplift the lives of ordinary Filipinos.”

MHI to open Footwear execs predict weaker US sales Calax section in H2–exec

PCALA Holdings Inc. (MHI) announced that it will open the new interchange for the Cavite-Laguna Expressway (Calax) in the second half of 2022. Raul L. Ignacio, the company’s president, said the Silang (Aguinaldo) Interchange will extend the operation sections of Calax from Mamplasan, Laguna, to Aguinaldo Highway in Silang, Cavite. “The Silang (Aguinaldo) Interchange will help decongest the busiest highway in the province of Cavite—the 41-kilometer Emilio Aguinaldo Highway. Motorists from Manila going to the famous tourist destinations of Silang and Tagaytay, Cavite will surely benefit from this upcoming project as it offers convenience and shorter travel time,” he said. Currently, the 3.9-kilometer Calax subsection is at 56 percent completion. Part of the ongoing works includes drainage and bridge constructions, excavation and roadway earthworks, and installation of fence and coco net. Lorenz S. Marasigan

he footwear industry, seen as a bellwether for consumption in the United States, is pulling back on hiring and investment amid predictions of a sales slowdown. A survey from the Footwear Distributors & Retailers of America (FDRA), a trade group that represents nearly 500 US shoe retailers and brands, including Walmart Inc., Nike Inc. and Allbirds Inc., found that 87 percent of companies expect weaker sales in the next six months. They also predict operating costs will continue to climb. In a phone interview, FDRA Chief Executive Officer Matt Priest said the results were “dramatic” and “concerning” as inflation leapfrogs supply-chain snarls as the top concern among retailers. Shoes are a key barometer of economic health since they’re a necessary good that consumers repeatedly buy, Priest said. The survey results follow darker forecasts from retailers such as Target Corp. and Kohl’s Corp., which lowered profit expectations on high operating costs, bloated inventories and changes in demand. A recession is generally defined as two consecutive quarterly declines in gross domestic product. Priest said the footwear industry could be pro-

A pair of boots hang in front of wooden shoe patterns at a factory in Omaha, Nebraska. Bloomberg News

viding an early glimpse at broader economic performance. “Because our economy is mainly driven by consumption, we see the impact of a slowing economy before the numbers are official,” he said. The US economy shrank at an annual rate of 1.6 percent in the first quarter, according to the Commerce Department. In this environment, two thirds of executives say they see new hires decreasing or staying flat—a reversal from the group’s last survey released

in March, when two thirds said they were boosting staffing. A majority are also reducing capital expenditure or keeping it flat—another abrupt shift from the previous study, when a majority planned higher investment. There’s some good news for bargain hunters, however. Nearly half of respondents said they expect to see more discounts over the next six months. That compares with 80 percent in the previous survey expecting high prices to persist. Bloomberg News

Forest Lake sets expansion plans F

orest Lake Development Inc., a death care provider and operator of memorial parks, said it wants to expand its reach in the country to protect its market share. “There is a definite intent for us to expand in areas all over the country wherever feasible to continue serving as many Filipinos as we can,” said Alfred Xerez-Burgos III, the company’s managing director for sales and marketing, operations and chapel services. Xerez-Burgos III said the company, which has more than 25 branches in the country, will remain in private hands for now. “We plan to continue being the largest total memorial care brand in the country by delivering on our brand promise... by fulfilling the company’s vision to celebrate and immortalize family memories through the generations,” he said. Established in 1997, Forest Lake said it is “revolutionizing” total death care in the country by offering services other than selling memorial lots for sale. The company has a nationwide footprint and has over 25,000 registered sales agents in more than 35 locations in the Philippines. “Over the last 25 years, Forest Lake has fulfilled its brand promise. Our vision is to build a better place where generations of family memories are treasured, immortalized, and celebrated by the living and our mission is to offer accessible and affordable memor ia l parks and ser v ices managed by a professional team dedicated to providing value, innovation, and personalized service,” said Forest Lake President

Alfred Xerez-Burgos Jr. In 2015, Forest Lake opened its first memorial viewing chapels in Forest Lake Biñan, Laguna. With high occupancy levels in 2018 and 2019, a second building housing 10 additional viewing rooms were opened in March 2020. In 2018, Forest Lake launched its grief counseling services in partnership with a grief coach for bereaved clients in Forest Lake Biñan, Laguna. During the pandemic, the company launched a free online mental health and well-being awareness seminar that aims to create a more griefaware society. “We want to be able to provide everything Filipinos might need while they are grieving. That’s why we intend to further expand our services - from online portals to crematory services, and even grief counseling for those who have lost their loved ones,” Xerez-Burgos III said. The company also launched its customer digital portal, MyForestLake, to allow lot owners to manage their memorial lot investments, purchase lots, pay their monthly amortizations and access customer information and services. Xerez-Burgos III said death care is an investment, not just financially but emotionally, as well. “Filipinos want more than just a memorial lot, chapel, a coffin and a memorial service. When you invest in total death care, you’re investing in emotional support during your time of grieving. Every Filipino deserves to celebrate and immortalize the memory of their loved ones in a dignified manner.” VG Cabuag

Companies BusinessMirror

Monday, July 11, 2022

AirAsia PHL plans to mount flights to Mideast, Australia

By Lorenz S. Marasigan

@lorenzmarasigan

UDGET carrier AirAsia Philippines is studying the possibility of mounting flights to more destinations in Sabah, Malaysia from regional hubs in the Philippines, while planning to mount long-haul flights to other international markets.

AirAsia Philippines CEO Ricky P. Isla said the group is looking at operating flights from Davao, Zamboanga, and Palawan to “different island provinces of Sabah—that includes Sandakan, where a lot of Filipinos are.” Currently, the budget carrier operates twice-weekly flights between Manila and Kota Kinabalu. “We are going to look at this and try to see. I think our competitive advantage compared to other airlines is that we are the first to reopen the flight to Sabah and we would like

to keep that dominance or that supremacy, as we reopen our flights for the past few weeks and months,” Isla said in an interview. The group’s optimism is hinged on the so-called revenge travel phenomenon, which pertains to the pentup demand for travel and tourism after years of lockdowns and travel restrictions. Isla noted that the group is looking at operating circular flights to generate more value out of the possibility of expanding to and from other Philippine and

STOCK-MARKET OUTLOOK Last week

Share prices gained last week on bargain hunting, with the main index returning to the 6,300-point level, as investors shrugged off the higher inflation figures for June. The benchmark Philippine Stock Exchange index gained 196.37 points to close at 6,361.82 points. The main index was up almost all week long except on Thursday, when it gave up almost 1.5 percent, but it returned to its upward trajectory the next day. Investors shrugged off the 6.1 percent inflation rate for June, which could prompt the local central bank to raise interest rates this month. Value of trade were still low, averaging at P4.55 billion for the five trading days as foreign investors, which account for 43 percent of the trade, were net sellers at P1.45 billion. All other sub-indices were up, with the exception of the Mining and Oil index that fell 272.15 points to close at 11,050.35 points. The All Shares index gained 70.64 to 3,410.76, the Financials index added 50.15 to 1,501.59, the Industrial index rose 261.80 to 9,314.81, the Holding Firms index surged 314.67 to 6,036.81, the Property index was up 39.72 to 2,877.93 and the Services index climbed 10.22 to 1,671.83. For the week, gainers edged losers 123 to 90 and 34 shares were unchanged. Top gainers were Keppel Philippines Properties Inc., Liberty Flour Mills Inc., Lorenzo Shipping Corp., Ionics Inc., Anchor Land Holdings Inc. and PH Resorts Group Holdings Inc. Top losers were iPeople Inc., Philweb Corp., Keppel Philippines Holdings Inc. A, Prime Media Holdings Inc., DFNN Inc. and Medco Holdings, Inc.

This week

Trading may remain volatile this week on lingering economic headwinds, such as the elevated inflation rate and the upcoming rate hike by the Bangko Sentral ng Pilipinas during the meeting of the policy-making Monetary Board by next month. “The sustainability of (last week’s) rally is questionable, however, amid the lingering economic headwinds that may dampen sentiment. This includes the peso’s further weakening, and the supply problems of certain agricultural goods, both of which pose upside risks to inflation,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said. He said investors may also watch out for the upcoming June inflation report of the United States as this would provide clues on how aggressive the Federal Reserve will act in its next policy meeting. Investors may also take cues from the country’s upcoming foreign trade, foreign direct investments, and overseas Filipinos’ remittance data. Broker 2TradeAsia said investors are bracing themselves for the further weakening of the peso against the dollar. It said the further weakening of the peso “postpones most growth stories to no earlier than 2023, making underrated but resilient bargain plays more rewarding in the long term”. “The key is to dig deep. After all, those who struck oil first looked underneath the desert.” The local market’s support is still seen at the 6,100 to 6,150 range, while resistance level is at 6,350 to 6,400 range.

Stock picks

Broker Regina Capital Development Corp. advised to trade the range on the stock of International Container Terminal Services Inc. (ICTSI) as it is staying faithful to its rangebound nature. “It seems to be following a pattern of posting a steady rally to P200 before inevitably pulling back from the strong resistance. The underlying indicators are mixed. While there overall seems to be some semblance of downward pressure, we do not think there is enough steam to prompt a breakdown. If anything, ICT, in its rangebound nature, will likely just settle once more at its support of P180 before consolidating sideways,” the broker said. ICTSI shares closed last week at P185 apiece. Meanwhile, it gave a hold recommendation on the stock of Jollibee Foods Corp. (JFC) despite its technical readings showing that its uptrend looks intact. The rising volatility is also making the swings that much larger and finicky, it said. “JFC has the potential to once again break past the 210.00 resistance, but pullbacks are all too likely at this point, since there does not seem to be enough firepower. Nonetheless, JFC’s support at P200 will still likely hold as the stock has already cleared the sellers at this level and formed a stable base,” it said. Jollibee shares closed Friday at P217 apiece. VG Cabuag

Malaysian destinations. This includes the possible introduction of flights originating from Manila, a quick stop in Zamboanga or Puerto Princesa, and an end-destination of a city in Sabah. Isla said these services could be introduced “towards the first quarter of 2023,” as AirAsia Philippines implements the planned expansion of its Manila-Kota Kinabalu operations. Sabah Tourism Board CEO Noredah Othman said her group sees the Philippines as an important tourism market for Sabah, given its proximity. “Manila has a huge market of expats and we would like to tap that market from the Philippines,” she said. “With Manila reopening its borders lately, Manila can be another hub for us. The Philippines should be one of our prime markets to tap because there’s always a close tie between the two states.”

Expansion plans

Aside from strengthening its Sabah operations, AirAsia Philippines also plans to expand its international operations, particularly looking at

mounting flights from the Philippines to territories such as the Middle East and Australia, two nations with huge populations of overseas Filipinos. The plan, which may be implemented in the first quarter of 2023, however, will largely depend on the provision of new planes for AirAsia Philippines by Malaysian parent AirAsia Berhad. “Hopefully, they’ll give us big planes for long-haul flights,” Isla said. Currently, AirAsia Philippines has a fleet of 10 A320s in operation. Fourteen of its planes are currently undergoing maintenance checks. By the end of 2022, the airline should have a fleet of 24 A320s, allowing it to reopen and expand its operations. Isla said the group will be asking for bigger planes that have already been ordered by AirAsia Berhad from Airbus. In particular, AirAsia Philippines is looking at getting bigger A330s and A321 XLR (extra long range) to mount long-haul flights. “We really want to get long-haul flights in the very near future,” Isla said.

mutual funds

July 8, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 203.82 -8.53% -8.96% -5.78% -12.56% ATRAM Alpha Opportunity Fund, Inc. -a 1.3449 -5.87% -6.96% -3.76% -19.19% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7998 -8.91% -12.61% -8.35% -13.53% Climbs Share Capital Equity Investment Fund Corp. -a 0.7001 -9.79% -10.09% n.a. -7.46% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.652 -14.03% -9.98% n.a. -15.42% First Metro Save and Learn Equity Fund,Inc. -a 4.5893 -6.43% -6.36% -3.95% -11.45% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6837 -8.71% -6.65% -5.36% -12.72% MBG Equity Investment Fund, Inc. -a 76.4 -25.86% -14.84% n.a. -19.09% PAMI Equity Index Fund, Inc. -a 41.9396 -8.19% -7.81% -4.31% -12.86% Philam Strategic Growth Fund, Inc. -a 437.26 -8.76% -7.66% -4.42% -12.67% Philequity Dividend Yield Fund, Inc. -a 1.2226 5.64% -3.38% -1.39% -9.86% Philequity Fund, Inc. -a 31.9828 -6.5% -7.01% -3.41% -12.6% Philequity MSCI Philippine Index Fund, Inc. -a 0.825 -7.31% -8.43% n.a. -12.36% Philequity PSE Index Fund Inc. -a 4.3434 -7.22% -7.18% -3.66% -12.45% Philippine Stock Index Fund Corp. -a 723.64 -7.7% -7.26% -3.74% -12.66% -6.61% Soldivo Strategic Growth Fund, Inc. -a 0.6439 -9.83% -12.12% -14.44% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2617 -7.97% -9.68% -5.08% -13.61% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8237 -8% -7.54% -3.99% -12.79% United Fund, Inc. -a 3.0331 -7% -7.27% -3.02% -11.76% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0088 -7.36% n.a. n.a. -13.24% Philippine Stock Index Fund Corp. -a 880.97 n.a. n.a. n.a. n.a. Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 97.5533 -7.32% -7.04% -3.35% -12.49% Primarily invested in foreign currency securities (shares) $0.9191 -26.35% -3.06% -1.39% -18.41% ATRAM AsiaPlus Equity Fund, Inc. -b Sun Life Prosperity World Voyager Fund, Inc. -a $1.4439 -20.38% 2.89% 4.53% -21.8% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.5312 -9.39% -4.64% -2.95% -9.5% ATRAM Philippine Balanced Fund, Inc. -a 2.0739 -7.65% -4.14% -2.64% -9.1% First Metro Save and Learn Balanced Fund Inc. -a 2.4937 -4.52% -2.62% -1.2% -7.33% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1915 -2.25% n.a. n.a. -8.37% NCM Mutual Fund of the Phils., Inc. -a 1.8721 -4.49% -1.5% -0.37% -7.17% PAMI Horizon Fund, Inc. -a 3.414 -7.72% -3.4% -1.83% -9.33% Philam Fund, Inc. -a 15.303 -7.72% -3.58% -1.89% -9.16% Solidaritas Fund, Inc. -a 1.9588 -5.24% -3.45% -1.86% -7.66% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2837 -6.94% -5.88% -2.82% -9.96% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8545 -3.78% -5.4% -2.41% -10.45% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.894 -9.71% -4.71% n.a. -9.68% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8196 -10.05% -7.48% n.a. -13.22% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8075 -10.18% -7.84% n.a. -13.53% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03318 -13.48% -4.13% -1.48% -12.55% PAMI Asia Balanced Fund, Inc. -b $0.9139 -18.71% -3.07% -1.18% -14.36% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9363 -17.44% 1.09% 2.92% -18.03% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.014 -15.69% -2% 0.14% -15.4% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 373.4 0.24% 2.13% 2.27% -0.24% ATRAM Corporate Bond Fund, Inc. -a 1.891 -1.63% -0.16% 0.05% 0.33% Cocolife Fixed Income Fund, Inc. -a 3.2281 -0.08% 1.89% 3.25% -0.49% -4.31% Ekklesia Mutual Fund Inc. -a 2.1665 -0.36% 0.63% -3.78% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3968 -1.85% 1.13% 1.6% -1.2% Philam Bond Fund, Inc. -a 4.1839 -6.6% -0.04% 0.55% -4.82% Philam Managed Income Fund, Inc. -a 1.3206 0.08% 2.77% 2.8% 0.11% Philequity Peso Bond Fund, Inc. -a 3.8843 -2.43% 1.78% 2.18% -2.06% Soldivo Bond Fund, Inc. -a 1.0081 -2.66% 2.41% 1.67% -1.95% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1264 -2.83% 1.75% 2.54% -1.91% Sun Life Prosperity GS Fund, Inc. -a 1.692 -3.33% 0.88% 1.86% -2.23% Primarily invested in foreign currency securities (shares) $481.26 ALFM Dollar Bond Fund, Inc. -a -1.05% 1.56% 1.79% -1.7% ALFM Euro Bond Fund, Inc. -a Є210.54 -4.37% -1.19% -0.08% -4.3% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0786 -9.94% -3.1% -0.81% -10.41% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.9% -1.85% -0.49% -6.54% PAMI Global Bond Fund, Inc -b $0.8989 -14.92% -6.28% -3.47% -12.11% Philam Dollar Bond Fund, Inc. -a $2.2091 -12.38% -2.15% -0.09% -11.84% Philequity Dollar Income Fund Inc. -a $0.0606987 -3.7% 0.72% 1.19% -2.56% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7598 -13.72% -3.81% -1.56% -13.65% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.29 1.49% 2.29% 2.56% 0.84% First Metro Save and Learn Money Market Fund, Inc. -a 1.064 1.02% 1.57% n.a. 0.6% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3263 1.58% 2.12% 2.47% 0.81% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.064 0.59% 1.14% n.a. 0.32% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 44.4513 n.a. n.a. n.a. n.a. Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2182 -6.59% n.a. n.a. -11.91% Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.8157 -18.43% n.a. n.a. -15.91% 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). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

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

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 8, 2022

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

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

53,275 553,548,140 53,057 181,793,292.50 8,197,680 1,626,076 194,746,420 630,060 1,781,228 10,020.50 1,952,040 19,384,426 942,834.50 1,374,530 185,380 2,600 8,600 436,534 285,360

53,874,718 -22,819,501.50 -135,100 29,320 -56,070,145 3,428,978.50 -464,157.50 -63,000 -353,210 285,360

INDUSTRIAL AC ENERGY 8.18 8.3 8.16 8.41 8.16 8.18 10,592,700 87,623,682 ALSONS CONS 0.94 0.95 0.94 0.97 0.94 0.95 93,000 88,070 ABOITIZ POWER 30.1 30.15 29.95 30.5 29.8 30.15 1,056,200 31,881,395 RASLAG 2.06 2.07 1.98 2.1 1.96 2.07 13,901,000 28,586,130 BASIC ENERGY 0.385 0.39 0.395 0.4 0.385 0.39 1,080,000 421,450 FIRST GEN 17.2 17.5 17.88 17.88 17.04 17.2 887,200 15,448,372 FIRST PHIL HLDG 62.2 62.9 62.2 62.9 62.2 62.9 16,260 1,011,654 MERALCO 349.8 350 350.2 358 346.4 350 327,440 115,135,256 MANILA WATER 17.28 17.3 17.46 17.5 17.3 17.3 301,200 5,247,160 PETRON 3.05 3.06 3.03 3.08 3.03 3.06 603,000 1,831,240 PETROENERGY 4.53 4.84 4.84 4.84 4.84 4.84 2,000 9,680 PHX PETROLEUM 9.3 9.99 9.97 9.99 9.97 9.99 5,400 53,867 12.1 12.16 12.18 12.2 12.04 12.1 862,900 10,486,252 SYNERGY GRID 17.8 18 18.2 18.2 18 18 242,300 4,383,980 PILIPINAS SHELL 9.11 9.13 9.13 9.14 9.09 9.12 98,100 894,251 SPC POWER 1.74 1.75 1.71 1.75 1.71 1.75 39,703,000 68,917,490 SOLAR PH 5.46 5.47 5.47 5.48 5.41 5.48 853,900 4,659,684 AGRINURTURE 2.15 2.2 2.2 2.2 2.19 2.2 269,000 590,460 AXELUM CNTRL AZUCARERA 9.22 9.9 9.2 9.2 9.2 9.2 2,200 20,240 CENTURY FOOD 24.05 24.1 24.05 24.2 23.9 24.05 1,186,000 28,494,260 14.02 14.06 14 14.1 13.24 14.02 114,700 1,606,190 DEL MONTE 7.05 7.06 7.06 7.15 7.04 7.06 440,500 3,125,811 DNL INDUS 17.28 17.3 17.72 18.08 17.22 17.28 6,185,600 108,221,082 EMPERADOR SMC FOODANDBEV 45.95 46.45 46.5 46.5 45.8 46.45 55,100 2,540,940 FIGARO COFFEE 0.59 0.6 0.59 0.6 0.58 0.59 3,039,000 1,785,000 ALLIANCE SELECT 0.55 0.59 0.55 0.59 0.55 0.59 5,000 2,790 FRUITAS HLDG 1.07 1.09 1.09 1.09 1.08 1.09 490,000 533,980 GINEBRA 99 100 99.5 100 99 100 13,400 1,327,907 JOLLIBEE 215 217 205.2 217 205 217 646,240 138,383,874 KEEPERS HLDG 1.11 1.12 1.1 1.12 1.1 1.11 1,010,000 1,116,910 MAXS GROUP 4.63 4.75 4.61 4.64 4.61 4.63 14,000 64,830 MG HLDG 0.111 0.113 0.113 0.113 0.112 0.113 560,000 62,980 MONDE NISSIN 13.04 13.08 13 13.46 12.88 13.04 14,612,800 191,408,822 SHAKEYS PIZZA 7 7.09 7 7.1 7 7 16,800 117,700 0.53 0.54 0.53 0.55 0.52 0.54 740,000 399,100 ROXAS AND CO RFM CORP 3.9 3.95 3.95 3.95 3.95 3.95 11,000 43,450 119.4 119.5 115.9 119.9 115.8 119.5 1,739,090 206,780,005 UNIV ROBINA 0.61 0.62 0.62 0.62 0.61 0.62 66,000 40,560 VITARICH VICTORIAS 2.5 2.69 2.5 2.5 2.5 2.5 50,000 125,000 CONCRETE A 40 43.75 40.1 40.1 40 40 10,200 408,160 CEMEX HLDG 0.6 0.61 0.62 0.62 0.6 0.61 1,360,000 829,280 12.2 12.3 12.06 12.3 12.02 12.2 12,500 150,834 EAGLE CEMENT EEI CORP 3.57 3.6 3.46 3.64 3.46 3.6 270,000 971,060 5.11 5.18 5.2 5.2 5.11 5.11 128,000 654,524 HOLCIM MEGAWIDE 4.85 4.86 4.85 4.9 4.75 4.85 315,000 1,511,900 PHINMA 18.9 19.1 19.1 19.4 18.9 19.1 8,400 160,350 TKC METALS 0.7 0.74 0.74 0.74 0.74 0.74 3,000 2,220 VULCAN INDL 0.78 0.79 0.78 0.8 0.78 0.8 407,000 321,960 CROWN ASIA 1.7 1.8 1.75 1.8 1.75 1.8 348,000 622,870 PRYCE CORP 5.5 5.53 5.5 5.5 5.5 5.5 189,200 1,040,600 GREENERGY 1.54 1.56 1.58 1.59 1.53 1.56 10,320,000 16,248,590 INTEGRATED MICR 6.3 6.37 6.2 6.39 6.2 6.37 12,600 79,159 IONICS 0.67 0.72 0.58 0.72 0.58 0.72 693,000 460,590 PANASONIC 5.54 5.88 5.88 5.88 5.88 5.88 200 1,176 SFA SEMICON 1.12 1.14 1.15 1.15 1.14 1.14 106,000 120,940 CIRTEK HLDG 2.75 2.79 2.71 2.85 2.7 2.75 423,000 1,175,660

5,837,250 970 201,600 -31,200 -51,376 2,174,192 2,949,644 -719,000 -3,189,086 -376,774 7,304 46,690 579,891 7,152,855 1,352,574 -228,061 44,949,912 -1,434,135 41,300 -969,506 39,210,750 210,100 -14,742,900 -70,100 -43,450 69,351,138 -699,430 124,950 57,210 1,040,050 -35,340 27,600.00

HOLDING & FRIMS ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT KEPPEL HLDG A LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER ZEUS HLDG

43.5 118.8 8.28 87 27 6.97 49.65 7 17.94 55.45 19.52 89.9 77.9 1.8 3.45 0.26 860 184 2,378

1.63 642.5 51.2 9.6 8.71 0.75 0.405 4.41 8.83 7 492 49.3 7.51 8.35 3.67 2.29 2.38 0.89 828 104 114 0.153

44.95 119 8.29 87.8 27.05 7 49.7 7.15 18.02 56.85 19.84 89.95 78 1.85 3.5 0.3 980 185 2,500

1.64 643 51.4 9.61 8.89 0.8 0.42 4.42 8.84 7.07 492.8 50 9.68 8.44 3.7 2.41 2.42 0.9 839 105 117 0.17

44.95 118.2 8 87.5 27 6.97 48.8 7.01 18 55.6 19.54 89.75 81.5 1.85 3.49 0.26 860 186.8 2,378

1.63 655 50.1 9.6 8.89 0.8 0.405 4.41 8.89 7 488 50.5 7.51 8.22 3.61 2.4 2.34 0.9 844 105 114 0.153

44.95 122 8.29 92 27.15 7.04 50.5 7.01 18.2 56.85 19.54 90.4 81.5 1.91 3.5 0.26 860 186.8 2,378

1.68 665 53.5 9.79 8.89 0.8 0.405 4.46 8.94 7.07 503.5 52.2 7.51 8.47 3.77 2.44 2.47 0.9 859.5 105.9 117 0.153

44 118 8 87 26.8 6.94 48.8 7 17.92 55.6 19.52 89.25 77.75 1.8 3.49 0.26 860 180 2,378

1.62 635 48.85 9.52 8.89 0.8 0.405 4.41 8.81 7 485 49.3 7.51 8.22 3.56 2.3 2.31 0.9 823.5 103 114 0.153

44 118.8 8.29 87 27.05 6.97 49.7 7 18.04 56.85 19.52 89.9 78 1.8 3.5 0.26 860 184 2,378

1.64 643 51.2 9.61 8.89 0.8 0.405 4.42 8.84 7.07 492.8 49.3 7.51 8.36 3.7 2.41 2.38 0.9 839 105 117 0.153

1,200 4,617,990 6,500 2,053,330 302,900 233,200 3,915,100 90,000 98,700 180 100,000 215,390 12,050 756,000 53,000 10,000 10 2,390 120

12,654,000 446,980 2,072,600 3,404,300 600 1,000 320,000 777,000 2,362,400 7,200 211,510 3,125,710 100 861,300 19,073,000 12,000 2,016,000 49,000 510,240 43,660 470 7,570,000

20,717,240 290,300,165 106,537,170.50 32,720,407 5,334 800 129,600 3,450,880 20,976,017 50,414 104,601,287 157,337,582 751 7,219,538 70,412,180 28,350 4,819,800 44,100 432,707,155 4,542,370 54,930 1,158,210

PROPERTY

AYALA LAND 25.85 25.9 26.5 26.7 25.7 25.9 39,698,900 1,029,342,035 AYALA LAND LOG 3.12 3.14 3.08 3.17 3.04 3.12 287,000 895,470 ALTUS PROP 13.1 14 13.04 14 13.04 14 1,800 23,710 ARANETA PROP 1.5 1.52 1.45 1.53 1.43 1.5 671,000 1,004,710 AREIT RT 36.65 36.9 37.5 37.5 36.65 36.65 514,900 19,202,810 A BROWN 0.73 0.76 0.76 0.76 0.76 0.76 50,000 38,000 CITYLAND DEVT 0.67 0.69 0.69 0.69 0.66 0.69 45,000 30,300 CROWN EQUITIES 0.085 0.089 0.087 0.09 0.086 0.089 6,040,000 520,510 CEB LANDMASTERS 2.5 2.52 2.49 2.5 2.47 2.5 161,000 400,660 CENTURY PROP 0.375 0.38 0.38 0.38 0.38 0.38 50,000 19,000 CITICORE RT 2.42 2.43 2.44 2.46 2.43 2.43 3,508,000 8,559,570 DOUBLEDRAGON 8.12 8.2 8.2 8.39 8.12 8.13 36,100 297,262 1.51 1.52 1.49 1.52 1.48 1.52 1,199,000 1,807,830 DDMP RT 6.8 6.82 6.82 6.83 6.82 6.82 17,000 115,960 DM WENCESLAO EMPIRE EAST 0.193 0.21 0.21 0.21 0.191 0.191 250,000 49,740 EVER GOTESCO 0.26 0.27 0.27 0.27 0.265 0.27 11,510,000 3,052,450 6.79 6.8 6.78 6.8 6.78 6.79 293,200 1,991,265 FILINVEST RT 0.86 0.87 0.86 0.88 0.86 0.87 15,062,000 13,099,360 FILINVEST LAND 10.04 10.3 10.3 10.3 10.3 10.3 6,200 63,860 8990 HLDG PHIL INFRADEV 0.99 1 1.02 1.04 0.99 1 140,000 142,240 0.7 0.74 0.71 0.74 0.69 0.74 95,000 67,460 CITY AND LAND 2.3 2.31 2.26 2.32 2.26 2.31 18,395,000 42,362,440 MEGAWORLD 0.182 0.183 0.182 0.184 0.18 0.183 2,430,000 442,920 MRC ALLIED MREIT RT 15.92 15.98 15.98 16 15.62 15.92 936,500 14,850,054 PRIMEX CORP 2.03 2.09 2.09 2.12 2.02 2.09 737,000 1,539,640 RL COMM RT 6.4 6.5 6.54 6.54 6.4 6.4 196,900 1,274,297 ROBINSONS LAND 17.72 17.8 18.22 18.22 17.5 17.8 2,887,800 51,597,398 ROCKWELL 1.21 1.23 1.22 1.22 1.22 1.22 1,000 1,220 SHANG PROP 2.49 2.59 2.5 2.6 2.5 2.6 106,000 268,810 STA LUCIA LAND 2.91 3.05 3.05 3.05 2.91 3.05 11,000 33,380 SM PRIME HLDG 36.9 37 37.3 38.8 36.9 36.9 13,805,900 522,387,885 SOC RESOURCES 0.5 0.52 0.5 0.5 0.5 0.5 80,000 40,000 SUNTRUST RESORT 1 1.04 1 1.05 1 1.04 224,000 232,730 VISTA LAND 2.1 2.11 2.05 2.13 2.05 2.1 1,511,000 3,175,760 1.76 1.77 1.75 1.77 1.75 1.76 2,155,000 3,791,600 VISTAREIT RT SERVICES ABS CBN 9.69 9.7 9.75 9.75 9.5 9.69 33,400 322,000 GMA NETWORK 11.08 11.1 11.26 11.26 11 11.08 275,800 3,070,092 GLOBE TELECOM 2,294 2,296 2,248 2,338 2,220 2,294 44,780 102,128,030 PLDT 1,690 1,710 1,690 1,760 1,684 1,690 133,270 228,574,135 APOLLO GLOBAL 0.038 0.039 0.04 0.04 0.038 0.039 53,100,000 2,072,000 CONVERGE 21.7 21.8 21.35 22.2 21.35 21.8 15,183,600 331,487,045 DFNN INC 3.01 3.06 3.06 3.15 3.05 3.05 415,000 1,274,220 DITO CME HLDG 4.41 4.42 4.05 4.43 4.04 4.42 5,749,000 24,788,000 NOW CORP 1.19 1.2 1.22 1.22 1.19 1.19 72,000 86,140 TRANSPACIFIC BR 0.285 0.29 0.285 0.29 0.285 0.285 1,240,000 355,300 2GO GROUP 6.28 6.55 6.8 6.8 6.11 6.56 161,500 1,019,935 ASIAN TERMINALS 13.52 13.9 13.9 13.9 13.9 13.9 600 8,340 1.26 1.29 1.28 1.29 1.26 1.28 493,000 630,640 CHELSEA 41.95 42.2 42.7 42.7 41.95 41.95 25,600 1,079,755 CEBU AIR 185 188.5 187 193 185 185 1,017,920 191,503,043 INTL CONTAINER 0.53 0.69 0.69 0.69 0.69 0.69 2,000 1,380 LORENZO SHIPPNG MACROASIA 4.18 4.29 4.4 4.4 4.17 4.18 519,000 2,206,260 PAL HLDG 5.46 5.57 5.6 5.6 5.01 5.46 143,400 762,630 0.95 0.99 0.96 1.01 0.93 0.95 1,830,000 1,775,250 HARBOR STAR 0.087 0.088 0.086 0.09 0.086 0.087 24,530,000 2,151,520 BOULEVARD HLDG 1.61 1.67 1.65 1.65 1.6 1.6 6,000 9,850 DISCOVERY WORLD WATERFRONT 0.45 0.46 0.47 0.47 0.45 0.45 480,000 222,150 CENTRO ESCOLAR 6.52 6.94 6.9 6.9 6.9 6.9 800 5,520 IPEOPLE 5.93 6.78 5.16 5.16 5.16 5.16 200 1,032 BELLE CORP 1.18 1.19 1.2 1.2 1.19 1.19 120,000 143,700 BLOOMBERRY 6 6.02 6.09 6.09 6.01 6.02 639,500 3,860,611 PACIFIC ONLINE 1.43 1.45 1.43 1.43 1.43 1.43 11,000 15,730 LEISURE AND RES 1.38 1.4 1.38 1.4 1.37 1.4 991,000 1,360,510 PH RESORTS GRP 0.9 0.92 0.85 0.93 0.85 0.92 2,650,000 2,361,390 PREMIUM LEISURE 0.395 0.4 0.4 0.4 0.4 0.4 1,720,000 688,000 PHILWEB 3.78 3.8 3.82 4.06 3.68 3.8 8,852,000 34,310,670 ALLDAY 0.305 0.31 0.32 0.32 0.3 0.31 20,620,000 6,320,150 BERJAYA 5.63 6.15 6.15 6.15 6.15 6.15 1,400 8,610 ALLHOME 4.37 4.45 4.46 4.47 4.35 4.37 181,000 794,310 1.45 1.46 1.45 1.46 1.45 1.45 402,000 582,910 METRO RETAIL PUREGOLD 32.25 32.45 31.6 32.6 31.5 32.45 682,700 22,037,125 53.2 53.35 52.4 53.95 52.4 53.2 370,810 19,724,249.50 ROBINSONS RTL 57 57.95 58 58 54.55 57.95 970 54,126 PHIL SEVEN CORP 1.34 1.35 1.33 1.34 1.33 1.34 1,915,000 2,561,220 SSI GROUP 23.5 23.55 23.65 23.8 23.45 23.55 1,072,800 25,272,555 WILCON DEPOT 0.185 0.196 0.19 0.19 0.19 0.19 40,000 7,600 APC GROUP EASYCALL 3.88 4.28 3.88 3.88 3.88 3.88 6,000 23,280 MEDILINES 0.64 0.65 0.62 0.67 0.62 0.65 4,618,000 2,987,710 0.425 0.435 0.435 0.44 0.425 0.425 1,530,000 660,400 PRMIERE HORIZON 3.81 3.99 3.79 3.99 3.79 3.99 6,000 23,740 SBS PHIL CORP MINING & OIL ATOK 6.9 6.98 7 7 6.63 6.98 101,000 703,173 APEX MINING 1.46 1.49 1.49 1.5 1.44 1.46 1,749,000 2,567,670 ATLAS MINING 4.63 4.64 4.6 4.7 4.51 4.63 589,000 2,727,900 BENGUET A 5.45 5.5 5.49 5.5 5.49 5.5 8,500 46,700 CENTURY PEAK 2.61 2.74 2.71 2.74 2.71 2.74 105,000 285,500 DIZON MINES 3.86 4.29 3.85 3.85 3.85 3.85 1,000 3,850 FERRONICKEL 2.34 2.36 2.31 2.36 2.31 2.34 839,000 1,955,950 GEOGRACE 0.172 0.179 0.185 0.185 0.171 0.174 720,000 125,940 LEPANTO A 0.133 0.134 0.134 0.135 0.131 0.134 17,540,000 2,332,590 MANILA MINING B 0.0094 0.0099 0.0094 0.0094 0.0094 0.0094 3,000,000 28,200 MARCVENTURES 1.37 1.38 1.29 1.38 1.28 1.37 3,712,000 5,006,840 0.9 0.93 0.9 0.9 0.9 0.9 157,000 141,300 NIHAO NICKEL ASIA 5.78 5.8 5.83 5.91 5.78 5.78 7,172,300 41,881,825 0.69 0.72 0.73 0.73 0.69 0.72 66,000 46,310 ORNTL PENINSULA 3.1 3.13 3.15 3.19 3.08 3.13 3,738,000 11,686,770 PX MINING 36.7 36.75 36.6 36.95 36.15 36.75 2,647,100 96,950,155 SEMIRARA MINING 13.3 13.34 11.86 13.3 11.86 13.3 1,033,700 13,265,064 ACE ENEXOR 0.011 0.012 0.012 0.012 0.011 0.011 3,300,000 37,400 ORNTL PETROL A ORNTL PETROL B 0.011 0.013 0.011 0.011 0.011 0.011 600,000 6,600 PHILODRILL 0.0087 0.0089 0.0089 0.0089 0.0088 0.0088 7,000,000 61,700 PXP ENERGY 5.79 5.8 5 6 4.71 5.8 1,665,600 9,335,015 PREFFERED HOUSE PREF A 98.05 100.6 98.8 98.8 98 98.05 5,710 559,770.50 AC PREF B1 500 502.5 501.5 501.5 500 501 15,000 7,509,855 BRN PREF A 103.5 106 106.5 106.5 106.5 106.5 140 14,910 CEB PREF 41.5 42 41.5 41.5 41.5 41.5 100 4,150 CPG PREF A 99.05 101.8 98.7 101.9 98.7 101.9 100 10,030 DD PREF 97.05 99 99 99 96 97 13,080 1,267,481.50 EEI PREF A 100.6 104 104 104 104 104 10 1,040 FGEN PREF G 99.9 100.4 100.4 100.4 100.4 100.4 500 50,200 GTCAP PREF A 921 1,015 1,018 1,020 1,018 1,020 110 112,180 MWIDE PREF 4 98.5 99 99 99 99 99 750 74,250 PNX PREF 3B 100.1 101 100 101 100 101 2,050 205,050 PNX PREF 4 979 980 979 979 979 979 90 88,110 76 76.2 76.2 76.2 76.2 76.2 7,360 560,832 SMC PREF 2F 76 76.2 76 76 76 76 100 7,600 SMC PREF 2H SMC PREF 2J 74 74.25 74 74 74 74 14,250 1,054,500 SMC PREF 2K 73.2 74 74 74 74 74 340 25,160 TECH PREF B2D 53 56.35 54 54 54 54 1,000 54,000 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 9.12 9.55 GMA HLDG PDR 10.92 11.4 10.9 11 10.9 10.92 40,300 439,410 WARRANTS TECH WARRANT 0.53 0.54 0.53 0.54 0.53 0.54 241,000 129,580

5,714,330 -25,416,005 -290,642.50 -11,899,726 800 -816,730 6,404,313 21,633,006 -5,476,364.50 -728,950 -12,666,940 -84,843,285 -547,518 -248,007,875 -194,590 -5,208,585 -516,980 204,720 -197,640 12,435 1,277,320 -132,500 -90,918 -6,766,790 62,980 690 -5,841,680 -8,247,692 -1,260,290 -568,004 13,849,426 253,520 76,530,045.00 10,000 -592,520 7,000 37,722,890 -50,421,970 112,000 78,250,115 27,190 -163,190 2,850.00 227,500 -539,280 -201,480 -25,381,471 263,784 9,700 -68,660 -108,000 -1,602,912 -80,830 -722,180 583,740 253,150 -526,570 -812,735 8,831,813 41,948 1,131,790 2,879,980 13,830 -107,500 -568,030 -2,287,050 285,500 571,700 -75,380 -28,200 7,987,028 -24,150 -7,678,800 30,696,675 -383,390 29,657 -14,910 -5,095 50,200 -5,050 38,100 380,410 -53,500

SMALL & MEDIUM ENTERPRISES BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

0.68 0.95 0.93 0.74 1.29 0.3

0.7 0.96 0.98 0.75 1.3 0.315

EXHANGE TRADE FUNDS FIRST METRO ETF

98.5

0.69 0.94 0.98 0.78 1.28 0.29

0.7 0.96 0.98 0.78 1.31 0.315

0.67 0.93 0.98 0.74 1.28 0.29

0.7 0.96 0.98 0.75 1.29 0.315

11,373,000 2,737,000 39,000 1,259,000 681,000 950,000

7,785,650 2,587,580 38,220 945,440 882,500 290,200

62,980 -782,320 6,420 -

97.6 99.5 97.6 99 12,050 1,186,603 76,525

www.news.businessmirror@gmail.com

Banking&Finance

Re-filed digital economy tax bill promises ₧226.5B By Jovee Marie N. dela Cruz @joveemarie

LBAY Rep. Joey Salceda has re-filed the proposed Digital Economy VAT Law that, he said, could yield P154 billion in incremental revenues over five years. Together with Salceda’s proposed digital-economy taxation service, which could yield another P72.5 billion over five years, reforms in tax administration could yield up to P226.5 billion over the medium term. House Bill (HB) 372 seeks to close ambiguities in the value-added tax system that, Salceda said, have allowed some digital services and goods sold over the digital space to remain outside the coverage of VAT. The bill was approved on third and final reading in the lower house during the 18th Congress. According to Salceda, the measure seeks to level the playing field between traditional and digital businesses by clarifying the imposition of VAT on digital service providers (DSPs) like Apple Music, Spotify and Deezer. The lawmaker said he hopes the fiscal space from the proposal will provide fiscal space to support digitalization of small businesses, a national broadband network and jobs centers and training for digital freelancers. He added that the tax administration measure will support the fiscal program of President Ferdinand R. Marcos Jr. “The digital economy is growing rapidly, but digital economy taxation is falling flat. Imagine, in 2019, the digital economy tax collections of the BIR was at P45 billion,” Salceda, former research director of Barings Securities Philippines Inc. (now ING Group), said. “By 2020, it was still at around P45 billion. That’s hardly believable given the increase in digital transactions.”

Play catch-up

SALCEDA sought to clarify he is not proposing for a new tax. “We pay VAT for almost all goods and services, except those specifically exempted by law,” he said. “It goes without saying that the digital economy should be subject to VAT, but we are unable to capture these revenues because of ambiguities in tax laws.” The bill clarifies that digital services—digital advertising, subscriptionbased services and other online services—that can be delivered through the internet are VAT-able. The measure also aims to strengthen tax compliance through simplified invoicing and registration requirements for VAT-registered nonresident DSPs. “Goods sold over the electronic space, meanwhile, should not need any further legislation to be covered,” Salceda said. He, however, proposed to the Bureau of Internal Revenue (BIR) to establish a digital economy taxation service to have a dedicated unit for the growing digital sector, particularly the online shopping of goods. The bill defines a “digital service provider” as an entity that provides services or goods to a buyer through an online platform. The purpose may be for the buying and selling of goods or services or by making transactions for the provision of digital services on behalf of any person. “Our tax system really needs to catch up to the digital economy, which grows and changes by the day,” Salceda said.

Diokno’s thoughts

THE lawmaker added that they are also considering providing a framework for the taxation of digital assets such as non-fungible tokens, cryptocurrency and others. Salceda said he plans to create a technical working group (TWG) on digital asset taxation within the House Committee on Ways and Means “to study whether these assets can be considered services and therefore VATable, or should be taxed differently.” He noted that Finance Secretary Benjamin E. Diokno also has his own opinions on digital currencies, being from the Bangko Sentral ng Pilipinas as its governor. “His thoughts will determine much of the direction of that TWG’s work,” Salceda added. Meanwhile, the lawmaker also seeks to clarify the tax regime for digital gambling. “Unlike underground or informal gambling, we can capture digital gambling revenues through the payment systems employed. So, I am also deputizing a TWG for ‘Digital Betting and Amusements Taxation’ to make recommendations to the Committee,” Salceda said. “Of course, all of these will also require that the BIR is digital-ready. So, we will continue to work with BIR on digital tax registration and payment, electronic invoicing, big data tax analytics and other digitalization efforts, including the use of electronic data for risk-based auditing,” Salceda added.

Consumer burden

HOWEVER, Salceda’s proposal is not going well with some pundits. On Sunday, former Bayan Muna Rep. Carlos Isagani Zarate hit the plan to impose a 12-percent VAT on providers of online services like Netflix, Spotify and Lazada, as he believes that it will ultimately be the “consumers who would be carrying this additional burden.” “Even the claim [it would be] the foreign company that is being taxed is specious as it is still the consumers who will foot the bill in the end since VAT is a pass-on tax,” Zarate said. “It would mean higher subscription fees, service charges and, even prices of online products. That is why this tax is anti-consumer.” The human rights lawyer added that “the proposed tax is another measure that hits the poor and middle class more than the rich and big corporations.” If the government really wants to increase its coffers, Zarate said it should embark on a progressive tax system that taxes directly the rich and big corporations more rather than the poor. He cited as example a wealth tax of 1 percent can be levied on every million earned by an individual, family or corporation “or a tax scheme to that effect.” Zarate said government can also vigorously go after the Philippine Offshore Gaming Operators (POGOs) “and have them pay their billions worth of accrued taxes.” “It is tragically ironic that the government wants to tax the poor more but it rushed the passage of the Create [law, or Republic Act 11534] that that would lower the income tax rate of corporations and the rich and will result to an estimated P259-billion revenue loss for the government until 2022,” he added. This proposal is definitely anti-consumer and must be opposed, junked and buried, Zarate said.

BusinessMirror

Editor: Dennis D. Estopace • Monday, July 11, 2022

Govt bags ₧118B in taxes, duties from marking fuel

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of Customs (BOC) collected P118 billion in duties and taxes through its fuel marking program in the first half of the year.

In a statement over the weekend, the government’s second biggest collection agency said it marked nine billion liters of fuel from January to June this year under its fuelmarking program, which was aimed to raise revenues while curbing oil smuggling. Since the program was implemented from September 2019 to June this year under the Duterte administration, 43.65 billion liters of fuel have been marked equiva-

lent to P432.3 billion in duties and taxes. Diesel cornered the biggest chunk of total volume marked at 60.59 percent, followed by gasoline (38.9 percent) and kerosene (0.51 percent). Most of the fuel marked came from Luzon at 73.88 percent. Next to Luzon is Mindanao (20.66 percent) and Visayas (5.47 percent). Meanwhile, the BOC also said they have seized unmarked fuel to-

gether with the Bureau of Internal Revenue. Broken down, among those seized were a total of 111,157.80 liters of diesel, 3,311 liters of kerosene, 18,839 liters of Gasoline and two units of tank trucks carrying unmarked fuel with a total estimated value of P14.4 million. Tanks of 16 retail stations and four private companies where BOC found these unmarked fuels were likewise sealed and recommended for filing of criminal cases. Fuel marking makes use of a unique chemical marker that can be embedded at a molecular level in petroleum products—gasoline, diesel, and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes. Earlier, the Department of Finance (DOF) under the Duterte administration thumbed down calls to suspend fuel excise taxes amid the

increase in prices, warning that this will slash government revenues by P105.9 billion or 0.5 percent of gross domestic product (GDP) in 2022, resulting to a higher deficit and debt for the government. An increase in deficit and debt, in turn, will potentially raise interest rates on government debt, according to the DOF. This would, thereby, reduce much-needed fiscal space for funding crucial social and economic programs, more so now when the government needs to sustain and even boost the domestic economy’s recovery from the lingering pandemic and Russia-Ukraine conflict, the finance department added. The DOF also pointed out that the suspension of fuel excise tax imposition will only largely benefit higher income households, and not the poor, given that the top 10 percent of Filipino households consume about half of the total petroleum products.

Perspectives Core modernization for commercial lending

HE convergence of customer self-service, along with technology advancements, makes a case for commercial lending core modernization. Relationship managers (RMs) have been the heart and soul of commercial lending. Historically, banking success relied on the competence of RMs to acquire new clients, build strong relationships, and cross-sell products and services to other areas of the bank. Much of that role dependence has changed for futureready banks. The convergence of customer self-service expectations along with advancements in technology have made a case for commerciallending core modernization. The result is a bank that relies less on the acumen and skill of individual RMs and more on the ability to harness advanced data and analytics capabilities within a digital delivery model. Leveraging these new competencies elevates the role of RMs and allows commercial banking to be delivered in a more personalized manner. The ability of lenders to build trust and loyalty through tailored customer interactions is enabled by the capture and integration of data across all customer touchpoints to ultimately generate personalized insights. However, replacing your lending platform should only be done in the context of a broader transformation effort because modern-

izing commercial lending is not a pure technology play. It involves transforming people, processes, operations, and risk—along with technology—to meet customer expectations and achieve profitable growth.

Changing customer expectations

THERE has been a considerable rise in customer demand for self-service opportunities. Customers want to upload statements, make payments, view lending rates, complete applications online, and check the status of a loan, among countless other selfgenerated actions. Clients demand more access points across the entire value chain—from sales to originations to servicing. The RM is no longer central to ongoing customer routines. Banks must address the demand for digital capabilities to not only optimize the customer experience but to bring efficiency to their processes as well.

Delivering a higher return on risk

CORE platform modernization provides opportunities to enhance risk management and ensure regulatory compliance through automation. Automating controls and key compliance activities enable earlier detection and prevention—adding to the measurable ROI benefits of platform modernization. Security, in the form of authentication—authenticating individuals, documents, and organiza-

tions—in addition to role-based and transaction-based controls (e.g., who has access to what opportunities and what data fields), audit trails, escalations, and notifications, further maximizes a secure environment. As an added value, since regulators and auditors now require more information about the data involved in a lending decision, modernization of your lending platform helps deliver the information needed in the format required.

Harnessing technology

NEW underwriting approaches leverage advanced data analytics techniques to improve commercial lending. For example, the expanded use of machine learning models that consume a variety of nontraditional internal and external data allows lenders to intelligently expand credit without significantly increasing their overall risk profile. Another example of improved technology is the use of ethical AI models that stand up to higher levels of regulatory scrutiny.

Which platform is right for your bank?

THE first step in evaluating platform alternatives is to examine business needs. This means going beyond a functional point of view so that there is a seamless set of experiences from demand generation, acquisition, onboarding, and service—all delivered in a way that

the customer prefers. Factors to consider when evaluating platforms: n The entire value chain—from sales to originations to service n Data integrity and integration across each process for reuse of data n Workflows for each bank process, product, and customer type n Capabilities for integrated customer experiences n Risk and regulatory compliance n Technical fit By placing core modernization at the center of your commercial lending strategy, you are positioning your bank to elevate sales and servicing in fundamental ways while also achieving new levels of efficiency and profitable growth. KPMG in the Philippines will host its annual virtual Innovation Summit in July to keep professionals up to date on emerging technology and trends. Join Day 4 to learn more about customer experience from key industry leaders. The excerpt was taken from the KPMG Thought Leadership publication: https://advisory.kpmg.us/ articles/2022/core-modernization-commerciallending.html R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Ltd., a private English company limited by guarantee. All rights reserved. For more information on KPMG in the Philippines, you may send a message via social media or visit www. home.kpmg/ph.

Another looming big US inflation number may stiffen Fed’s resolve

S inflation data in the coming week may stiffen the resolve of Federal Reserve policy-makers to proceed with another big boost in interest rates later this month. The closely watched consumer price index probably rose nearly 9 percent in June from a year earlier, a fresh fourdecade high, based on the median projection of economists in a Bloomberg survey. Compared with May, the CPI is seen rising 1.1 percent, marking the third month in four with an increase of at least 1 percent. While persistently high and broad-based inflation is seen persuading Fed officials to raise their benchmark rate 75 basis points for a second consecutive meeting on July 27, recession concerns are mounting. There are signs, though, that price pressures at the producer level are stabilizing as commodities costs—including energy—retreat. Even so, the inflation data are likely to draw heightened scrutiny globally after

a faster-than-consensus result for May caused ructions in financial markets. The US inflation data follow figures Friday showing stronger-than-expected job growth and an unemployment rate near a five-decade low, underscoring a tight labor market that’s helping to keep wage growth elevated. Figures on producer prices, industrial production and consumer sentiment, as well as the Fed’s Beige Book, are also released in the coming week. Regional Fed presidents Thomas Barkin and Raphael Bostic will discuss the economy and monetary policy at separate engagements. Further north, in a precursor to the sort of decision the Fed is facing, the Bank of Canada will accelerate hiking with a rate increase of 75 basis points, if investor bets are to be believed.

Aggressive action

ELSEWHERE, the shaky economic economic backdrop is likely to focus the

finance ministers and central bankers from the Group of 20 meeting in the Indonesian resort of Bali starting on Friday. Senior officials are set to discuss the latest on inflation, global risks, the war in Ukraine and debt. Meanwhile, global monetary tightening is likely to continue in earnest: aside from Canada, policy-makers in Chile, New Zealand and South Korea may all deliver rate hikes of at least 50 basis points.

Asia

THE Reserve Bank of New Zealand and the Bank of Korea meet on Wednesday, with further major rate hikes expected in an attempt to tame inflation. Investors will watch how those forerunners of global monetary tightening communicate further action going ahead. South Korea’s jobless data will come out the same day, while Australia’s employment report will be released Thurs-

day, giving insight into the state of the economy in the second quarter. Earlier in the week, US Treasury Secretary Janet Yellen is expected to meet with Japanese Finance Minister Shunichi Suzuki ahead of the G-20 meetings in Indonesia. China is set for a bumper week of economic data that may shape the outlook for monetary and fiscal policy for the rest of the year. Trade data on Wednesday will give more clues about softening global demand, ahead of Friday’s GDP figures, which are under more scrutiny as Covid outbreaks persist. Fiscal data during the week will show the state of local government finances, while credit figures will be watched for signs of improving business and household sentiment.

Europe, Middle East, Africa

EUROPEAN Central Bank policy-makers have until Wednesday to air views in public about their July 21 meeting

before a pre-decision blackout kicks in. They’re preparing to start raising rates and to unveil an accompanying crisis tool to mitigate the fallout on weaker euro members such as Italy. ECB President Christine Lagarde will attend a meeting of euro-area finance ministers at the start of the week, though few other appearances are scheduled. Likely to focus their minds is a temporary closure of the Nord Stream gas pipeline from Russia to take effect on Monday. German officials fear the shutdown for 10 days of routine maintenance may become permanent. Among data due, euro-zone industrial production on Wednesday will probably signal slowing expansion as the second quarter progressed, while the state of the region’s worsening trade deficit—perhaps reflected in the euro’s drop to a two-decade low—will be revealed on Friday. “There are stagflationary winds

blowing—there’s no question about that,” ECB Governing Council member Yannis Stournaras told Bloomberg TV on Saturday, stressing that Europe isn’t seeing stagflation yet. “But for the moment we don’t expect negative growth this year or next year.” In the United Kingdom, economists expect gross domestic product to have barely increased in May after a decline the previous month, in figures due on Wednesday. That picture of anemic growth amid rampant inflation is confronting Bank of England Governor Andrew Bailey, who’ll deliver a speech on Tuesday. A sickly economy will also greet the successor to Prime Minister Boris Johnson as the process of replacing him begins in earnest. Elsewhere around Europe, consumer-price data for June will underscore the cost-of-living shock reverberating around the continent, albeit unevenly. Bloomberg News

B4 Monday, July 11, 2022

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The long, ongoing debate over

‘All men are created equal’ By Hillel Italie The Associated Press

EW YORK— Kevin Jennings is CEO of the Lambda Legal organization, a prominent advocate for LGBTQ rights. He sees his mission in part as fulfilling that hallowed American principle: “All men are created equal.”

“Those words say to me, ‘Do better, America.’ And what I mean by that is we have never been a country where people were truly equal,” Jennings says. “It's an aspiration to continue to work towards, and we're not there yet.” Ryan T. Anderson is president of the conservative Ethics and Public Policy Center. He, too, believes that “all men are created equal.” For him, the words mean we all have “the same dignity, we all count equally, no one is disposable, no one a second-class citizen." At the same time, he says, not everyone has an equal right to marry—what he and other conservatives regard as the legal union of a man and woman. "I don't think human equality requires redefining what marriage is," he says. Few words in American history are invoked as often as those from the preamble to the Declaration of Independence, published nearly 250 years ago. And few are more difficult to define. The music, and the economy, of “all men are created equal” make it both universal and elusive, adaptable to viewpoints—social, racial, economic—otherwise with little or no common ground. How we use them often depends less on how we came into this world than on what kind of world we want to live in. It’s as if “All men are created equal” leads us to ask: “And then what?” “We say ‘All men are created equal’ but does that mean we need to make everyone entirely equal at all times, or does it mean everyone gets a fair shot?” says Michael Waldman, president of the Brennan Center for Justice, which promotes expanded voting rights, public financing of political campaigns and other progressive causes. “Individualism is baked into that phrase, but also a broader, more egalitarian vision. There's a lot there.” Thomas Jefferson helped immortalize the expression, but he didn't invent it. The words in some form date back centuries before the Declaration and were even preceded in 1776 by Virginia's Declaration of Rights, which stated that “all men are by nature equally free and independent.” Peter Onuf, a professor emeritus at the University of Virginia whose books include The

THIS undated illustration depicts President Abraham Lincoln making his Gettysburg Address at the dedication of the Gettysburg National Cemetery on the battlefield at Gettysburg, Pa., Nov. 19, 1863. Library of Congress via AP

Mind of Thomas Jefferson, notes that Jefferson himself did not claim to have said something radically new and wrote in 1825 that the Declaration lacked “originality of principle or sentiment.” The Declaration was an indictment of the British monarchy, but not a statement of justice for all. For the slave owning Jefferson “and most of his fellow patriots, enslaved people were property and therefore not included in these new polities, leaving their status unchanged,” Onuf says. He added that “did not mean he did not recognize his enslaved people to be people, just that they could only enjoy those universal, natural rights elsewhere, in a country of their own: emancipation and expatriation.” Hannah Spahn, a professor at the John F. Kennedy Institute in Berlin and author of the upcoming Black Reason, White Feeling: The Jeffersonian Enlightenment in the African American Tradition, says that a draft version of the Declaration made clear that Jefferson meant “all humans” were created equal but not necessarily that that all humans were equal under the law. Spahn, like such leading Revolutionary War scholars as Jack Rakove, believes that “all men are created equal” originally referred less to individual equality than to the rights of a people as a whole to self-government. Once the Declaration had been issued, perceptions began to change. Black Americans were among the first to change them, notably the New England-based clergyman Lemuel Haynes. Soon after July 4, Haynes wrote “Liberty Further Extended: Or Free Thoughts on the Illegality of Slave-Keeping,” an essay not published until 1983 but seen as reflecting the feelings of many in the Black community, with its call to “affirm, that Even an affrican, has Equally as good a right to his Liberty in common with Englishmen.” Spahn finds Haynes’s response “philosophically innovative," because he isolated the passage containing the famous phrase from the rest of the Declaration and made it express “timeless, universally binding norms." “He deliberately downplayed Jefferson’s original emphasis on problems of collective assent and consent,” she says. The words have since been endlessly adapted and reinterpreted. By feminists at

n President Donald Trump cited them in October 2020 (“The divine truth our Founders enshrined in the fabric of our Nation: that all people are created equal”) in a statement forbidding federal agencies from teaching “Critical Race Theory.” President Joe Biden echoed the language of Seneca Falls (“We hold these truths to be self-evident, that all men and women are created equal”) while praising labor unions last month as he addressed an AFL-CIO gathering in Philadelphia. n Morse Tan, dean of Liberty University, the evangelical school co-founded by the Rev. Jerry Falwell Sr., says the words uphold a “classic, longstanding” Judeo-Christian notion: "The irreducible worth and value that all human beings have because they [are] created in the image of God.” Secular humanists note Jefferson's own religious skepticism and fit his words and worldview within 18th century Enlightenment thinking, emphasizing human reason over faith. CHAIRWOMAN Alice Paul, second from left, and officers of the National Woman's Party hold a banner with a Susan B. Anthony quote, "No self-respecting woman should wish or work for the success of a party who ignores her sex," in front of the NWP headquarters in Washington in June 1920. AP

the Seneca Falls Convention of 1848 who stated “We hold these truths to be self-evident; that all men and women are created equal.” By civil rights leaders from Frederick Douglass to the Rev. Martin Luther King Jr., who in his “I Have a Dream” speech held up the phrase as a sacred promise to Black Americans. By Abraham Lincoln, who invoked them in the Gettysburg Address and elsewhere, but with a narrower scope than what King imagined a century later. In Lincoln's time, according to historian Eric Foner, “they made a careful distinction between natural, civil, political and social rights. One could enjoy equality in one but not another.” “Lincoln spoke of equality in natural rights—life, liberty and the pursuit of happiness,” says Foner, whose books include the Pulitzer Prize winning The Fiery Trial: Abraham Lincoln and American Slavery. “That’s why slavery is wrong and why people have an equal right to the fruits of their labor. Political rights were determined by the majority and could be limited by them." The words have been denied entirely.

John C. Calhoun, the South Carolina senator and vehement defender of slavery, found “not a word of truth” in them as he attacked the phrase during a speech in 1848. Vice President Alexander H. Stephens of the Confederate States contended in 1861 that “the great truth" is "the negro is not equal to the white man; that slavery subordination to the superior race is his natural and normal condition.” The overturning of Roe v. Wade and other recent Supreme Court decisions has led some activists to wonder if “All men are created equal” still has any meaning. Robin Marty, author of Handbook for a Post-Roe America, calls the phrase a “bromide” for those “who ignore how unequal our lives truly are.” Marty added that the upending of abortion rights has given the unborn “greater protection than most,” a contention echoed in part by Roe opponents who have said that “All men are created equal” includes the unborn. Among contemporary politicians and other public figures, the words are applied to very different ends.

n Conservative organizations from the Claremont Institute to the Heritage Foundation regard “all men are created equal” as proof that affirmative action and other government programs addressing racism are unnecessary and contrary to the ideal of a “color-blind” system. Ibram X. Kendi, the award-winning author and director of the Center for Antiracist Research at Boston University, says the words can serve what he calls both “antiracist” and “assimilationist” perspectives. “The anti-racist idea suggests that all racial groups are biologically, inherently equal. The assimilationist idea is that all racial groups are created equal, but it leaves open the idea some racial groups become inferior by nurture, meaning some racial groups are inferior culturally or behaviorally,” says Kendi, whose books include Stamped from the Beginning and How to Be an Antiracist. “To be an anti-racist is to recognize that it’s not just that we are created equal, or biologically equal. It’s that all racial groups are equals. And if there are disparities between those equal racial groups, then it is the result of racist policy or structural racism and not the inferiority or superiority of a racial group.”

Style

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ESSENTIALS FOR THE MINDFUL MAN

WHEN it comes to skin care and grooming, there are more brands in the market that cater mostly to women. This poses a challenge for men who, from having to shave regularly and maintain oilier and more acne-prone skin types, would need to find a set of different products that suits their needs and lifestyles. Self-care and looking one’s best do not have to be complicated for men. In fact, it could be as simple as being able to fit all your essentials into one kit. For the uninitiated, a dopp kit is a small bag or case used for carrying grooming supplies and skin-care items when traveling. They can be used by anyone, but are often used by men. It was through this most basic function that Doppkit, a men’s grooming and skin-care retailer, was conceived and named. The online marketplace was founded in 2021 by friends Burt Chua, Kenneth Toh, and Richmond Chong. Heading into their 30s, they noticed how their skin was starting to look dull, aged and tired. As they learned how men’s views on self-care were changing, they took a shared interest and turned it into a venture that could help other men care for and feel better in their skin. Doppkit is hinged on the simple promise of taking the guesswork out of daily routines. It offers a curated selection of essentials for men, but not exclusive for them. Every product is good enough for anyone looking to build a mindful regimen with quality brands and products. “Those familiar with similar retailers that carry multiple brands of their girlfriend’s or wife’s favorite skin care and makeup would have an easier time getting to know Doppkit,” said Chua. For men, Doppkit offers the same convenience of being able to research about and buy all the products they need on just one site. “It’s easy to be intimidated by the range of choices out there, especially if you don’t know where to look or start,” said Toh. “We want to narrow those down to the best options, so men can begin to invest in their routines in a no-fuss manner.” For instance, Doppkit’s top pick, Anthony’s Glycolic Facial Cleanser, doubles as a pre-shave softener that promotes a better, closer shave. It also carries REYAL, a line of products that cover shower to skin care, offering a no-fuss regimen for those with active and on-the-go lifestyles. For hair styling, there’s the Groomed Man Co’s Cool Cola Shampoo and Conditioner pair. Meanwhile, Doppkit’s Road Less Travelled Kit by Triumph & Disaster carries everything men would need from wash to wear. “There’s a stigma attached to men investing more on themselves in the form of skin care, and we think that’s an outdated notion. Self-care is something men should take pride in because they deserve to look and feel their best too,” said Chong. For those looking to start now or upgrade their routine, Doppkit’s products are available at www.doppkit.co.

REYAL offers a line of products that cover shower to skin care, offer a no-fuss regimen men.

Editor: Gerard S. Ramos

• Monday, July 11, 2022

Winners all I

T’S that time of the year again when beauty pageants provide us with much-needed distractions from all the bleakness around us. Though the euphoria may be fleeting, we’ll take it. To paraphrase Rachel Tensions (RuPaul in To Wong Foo, Thanks for Everything, Julie Newmar), “Proof that in the Philippines, a thing of beauty is a joy for... exactly 12 months.” So for now, here are the beautiful people bringing pride and happiness with their city, national and international titles. May their reign be fruitful, meaningful and profitable. Mister International Philippines 2022—Myron Jude “MJ” Ordillano, 23, an aspiring actor from Parañaque City, was declared the winner on June 27 at Okada Manila. MIPH national director Atty. Manuel F. Deldio also awarded MJ’s court: Mark Avendaño of Biñan, Laguna as first runner-up, Leyte’s Michael Ver Anton Comaling as second runner-up; Kitt Cortez of San Juan City and Andre John Cue of Cagayan de Oro as third and fourth runners-up. My personal bet, Godfrey Nikolai Murillo of Macabebe, Pampanga, won Best in Formal Wear and Mister Photogenic and finished in the Top 10. A Pinoy Disney Prince if there was one, MJ will compete at the 14th Mister International to be held here in October. Miss Aura Philippines 2022—Micca Rosal of Agoncillo, Batangas, won the inaugural local edition held at Saint Francis Place Shangri-La Plaza, Mandaluyong City, on June 25. CEO/Owner of MAP Katniss Griffiths and national director Rowee Lucero are hoping Micca will replicate the victory of our own Alexandra Faith Garcia, the current global winner, as Micca competes at the 17th Miss Aura International 2022 in Antalya, Turkey, this September. Miss Elite 2022—Shanon Tampon, 25, emerged first runner-up at the Miss Elite 2022 held in Soma Bay, Egypt, on June 11. The model and pageant veteran also won Miss Elite Asia and Best in Evening Gown. Quoting Queen Latifah, she posted on her Instagram: “Let your inner queen’s voice come through loud and clear. Be strong, be authentic, be You, and you’ll do her proud.” Miss World Philippines. Seven titles were distributed this year: World—Gwendolyne Fourniol; Supranational—Alison Black; Eco International—Ashley Subijano Montenegro; Reina Hispanoamericana—Ingrid Santamaria; Eco Teen— Beatriz McLelland; MWP Tourism—Justine Felizarta; and MWP Charity—Cassandra Chan. Of these “Exceptionally Empowered Queens,” Alison, a ballerina from Las Piñas, is the first to compete internationally at Miss Supranational, with the finals on July 16 Manila time. Queen of Cagayan de Oro 2022—Full disclosure: I was a judge when this transgender pageant, organized by Barbie Lindelle Neri, declared its first winner, the ravishing Bembem Radaza. “When I was younger, I

MISTER International Philippines 2022 Myron Jude “MJ” Ordillano, First Runner-up Mark Avendaño, Second Runner-up Michael Ver Anton Comaling, Third runner-up Kitt Cortez, Fourth Runner-up Andre John Cue (PHOTO BY DREW FRANCISCO); Miss Aura Philippines 2022 Micca Rosal (PHOTO BY TYKE KING); Miss Elite 2022 First Runner-up Shanon Tampon (@SHANONTAMPON); Miss World Philippines Gwendolyne Fourniol, Supranational Alison Black, Eco International Ashley Subijano Montenegro, Reina Hispanoamericana Ingrid Santamaria, Eco Teen Beatriz McLelland, MWP Tourism Justine Felizarta and MWP Charity Cassandra Chan (PHOTO BY CHAN CEE PHOTO | PIQATO STUDIO); Queen of Cagayan de Oro 2022 Bembem Radaza (GOWN BY JUNIEL DORING, PHOTO BY HENRY DE GUZMAN); Miss Global 2022 Shane Tormes (PHOTO BY @ALDIPHOTOOFFICIAL, MAKEUP BY @ARMANARMANO, OUTFIT BY @PARISDELAMODEFASHIONSCHOOL); Miss International Queen 2022 Fuschia Anne Ravena wearing Chico Estiva (@MISSINTERNATIONALQUEEN).

always dreamt of being a beauty queen. Growing up, pageantry has been my love and passion. Coming from the City of Golden Friendship, I took the pride of representing our city to national and international pageants prior to the birth of social media,” she said. Embem’s next quest will be the Queen Philippines Pageant 2022, the brainchild of couturier Cary Santiago with co-presenter Bea Zobel de Ayala Jr. The coronation night will be on August 20 at the Waterfront Cebu City Hotel. Miss Global 2022—Shane Tormes, from Atimonan, Quezon, won this pageant on June 11 in Bali, Indonesia. As the first Pinay winner, the international title is a fitting finale to Shane’s storied pageant journey.

Miss International Queen 2022—A clear favorite upon her arrival in Thailand, the Cebuana beauty follows in the footsteps of fellow Pinay winners Kevin Balot (2012) and Trixie Maristela (2015). On finals night on June 25, Fuschia Anne Ravena posted: “A transwoman once said, ‘We have to be visible. We should not be ashamed of who we are.’ Tonight we claim our power and take our space as we celebrate diversity, visibility, and love.” But by the morning after she won, she was in disbelief, saying: “It honestly still feels like a dream. Everything hasn’t sunk into me yet. It’s amazing how well-received and welcome I am here. As much as I love and enjoy my time here, I cant wait to be back home. The Philippines, see you very soon!” n

Actor JC Santos working hard to get back in shape

UP until recently, I didn’t know that actor JC Santos had gotten married and that he is now a dad. I also didn’t know that Santos had, since the pandemic, moved back to Pampanga where he grew up. Santos is a well-respected stage, TV and film actor whose body of work includes Till I Met You, Ikaw Lang ang Iibigin, FPJ’s Ang Probinsyano, 100 Tula Para Kay Stella, The Day After Valentines, and Miracle in Cell No. 7. Recently, Santos was introduced as the brand ambassador of BeautéHaus, a subsidiary of the Pampanga-based Beautéderm Group of Cos. BeautéHaus specializes in dermatology as well as the latest top-of-the-line, cutting-edge machines, and equipment in aesthetic medicine. As an aesthetic clinic, it has one of the best medical teams in Northern Luzon. Santos along with his wife Shyleena, both BeautéHaus ambassadors, see going to the clinic as their private time together away from work and other

concerns. “I just want to get rid of my dad bod. I rely on BeautéHaus’ treatments, along with a healthy diet and regular exercise, to get me to where I want to be,” said Santos. Meanwhile, Shyleena goes for Exilift Face, which she swears made her face smaller. “I really saw a difference after three treatments,” said Shyleena, who was Santos’ schoolmate 15 years ago. “I pursued her then but she turned me down but now, here we are,” said the actor. The couple has a twoyear-old named River Aletheia. The couple jokingly calls the BeautéHaus visits as part of a “balik alindog program.” Santos also did Exilift to minimize the dark circles under his eyes, puffiness and wrinkles. He also undergoes Lipodissolve and M-Shape—non-invasive body sculpting and slimming treatments—and Beautétox to blur the look of wrinkles. BeautéHaus is trusted by some of Angeles City’s most popular citizens, including fashion designers Marlon Tuazon, Frederick Policarpio, and Michelle Viray; Dr. Rowena Mangubat; creative director Lance Tan; entrepreneur Isabel Lim; marketing executive and lifestyle journalist Joanna Ning Cordero; Clark International Airport Corp. vice president for operations IC Calaguas; executive assistant IV to the Office of the Mayor of Angeles City Reina Manuel; and event planner Voltaire Zalamea. They are also ambassadors of the Beautéderm Group of Cos. The list includes makeup artist Mariah Santos and

internationally acclaimed fashion designer Mak Tumang. Meanwhile, MAC, is celebrating National Lipstick Day on July 29 with the launch of a new lipstick and good deals on the brand’s iconic lip products, including: n July 1 to 14—Lazada Super Brand Day

n July 15 to 27—Get a free lip product for every purchase of two full-sized MAC lip products in store and online n July 15 to 31—Get a free full-sized eyeliner for every purchase of two MAC Powder Kiss Velvet Blur Slim Stick in store n July 15 to 31—Get a free pair of lashes for every purchase of two MAC Powder Kiss Velvet Blur Slim Stick online n July 28 to 31—Buy 1 Get 1 lip product in store, online, and during the #MACForYouParty at SM Aura Premier in celebration of National Lipstick Day For the whole month of July, you can also get a complimentary lip touch up service for every purchase in store. The new MAC Powder Kiss Velvet Blur Slim Stick is part of the brand’s best-selling Powder Kiss franchise. It is a punchier and bolder version of the Powder Kiss bullet and liquid lipstick, and offers 12 hours of color and ultra-weightless wear in a single velvet-soft swipe. The Powder Kiss Velvet Blur Slim Stick is available in 12 shades: Ruby New, Mull It Over, Over The Taupe, Sweet Cinnamon, Stay Curious, Sheer Outrage, Brickthrough, Wild Sumac, Gingerella, Hot Paprika, Sorry Not Sorry and Devoted To Danger. As everyone who knows me knows, I have a love affair with MAC lipsticks and I am very excited to try the Powder Kiss Velvet Blur Slim Stick. I have my eye on Gingerella, Devoted To Danger, Sweet Cinnamon and maybe Brickthrough.

JC SANTOS and wife Shyleena Herrera. PHOTO FROM @SHYLEENAHERRERA ON INSTAGRAM

B6 Monday, July 11, 2022

Agrarian Reform Sec. Conrado Estrella III faces destiny

Experience PH’s first 10,000 Mbps internet service via the FAST Hub

MAGINE having a fully connected smart home where you can control all your home and personal devices – from health gadgets to home security – in just one app. Internet speeds of up to 10,000 Mbps puts the Philippines in the same league as many first-world countries, where smart homes are becoming the norm. Leading telecommunications provider PLDT Home has made this a reality for Filipino homes—right here, right now. PLDT Home introduces the FAST (Fiber Accelerated Speed Tech) Hub, a visual representation of everything 10,000 Mbps can offer. Here, you can experience what it’s like to have a hyper-fast home internet connection across two rooms: the Living Room, Office, and Gaming Areas. Make your home smarter: control the lights, electronics, security, and all your gadgets using your phone and your ultra-fast connection. And the best part is with such a connection, you can program your smart home to handle complex routines. Imagine at 6 am, you can automatically start coffee with your smart coffee maker and turn on the lights, then have the robo-vacuum start doing its thing at 6:15 am, among others–and have your smart home work like a well-oiled machine while you’re still waking up and getting your bearings. Level up your entertainment and gear up for a totally immersive binge-watching experience at your home theater/entertainment system because having ultra-fast speeds means you can watch your favorite

PLDT Home ambassador Gigi de Lana trying out smart devices at the FAST Hub shows in 4K and even 8K. Enjoy actual cinema-quality graphics and sound while you sit down and relax with your favorite movie snacks. Play stronger and lag-free because with 10,000 Mbps, you have the power to excel in every game, stream, connect with and grow your fanbase – all these you can do simultaneously. The Smart Work/Gaming Station enables families to do things better without worrying about heavy bandwidth usage for each device and zero latency. Suit up and set up your VR headsets and experience a totally immersive experience like never before. Work faster and more efficiently through virtual meetings or lectures, while multitasking in your home-based business,

or editing, rendering, and uploading your next trending video, while beefing up your home security devices – all working simultaneously, without worrying about bandwidth or dropped connection. As the country’s undisputed fastest internet service provider for four consecutive years at the Ookla Speedtest Awards, PLDT Home’s mission has always been to provide Filipino families with future-ready innovations for them to do things better, stronger, and faster at home. To set up your own smart home, visit PLDT Home’s Next Upgrade YouTube channel. To experience the ultra-fast speeds of a 10,000 Mbps connection? Fill out the online form at www.pldthome. com/10000mbps.

ONRADO Estrella III looks forward to showing the public that his long, colorful journey as a public servant and the highly important job given to him by President Bongbong Marcos is a match made in heaven. Estrella was appointed as Secretary of the Department of Agrarian Reform in early June 2022. To emphasize on his date with destiny, he is the grandson of Conrado Estrella Sr. the first Agrarian Reform Secretary, and who served strong in that capacity for a decade and a half. Congressman Conrado Estrella III, with his long history as a lawmaker, has been vigorously fighting for the rights of the farmers and successfully authored a plethora of laws that directly aided them. It is actually an advantage for everyone concerned that he also shares the same advocacies, as that of his grandpa, in helping the agricultural sector. For the record, the DAR was able to distribute 260,000 hectares of land during the latter’s time in office. Estrella has proven himself to be an achiever in his own right when he became among the youngest elected representatives at age 26. He was voted to the country’s House of Representatives in both 1987 and 1995, representing Pangasinan’s 6th District. Then he took the same seat during the first decade of the new millennium. In 2013 he succeeded his brother Robert Raymond as representative of ABONO

Starbucks Philippines showcases innovation for growth and a more connected future

PEZA head endorsed by various sectors for reappointment by BBM

UBLIC, private and business sectors have endorsed to Pres. Ferdinand R. Marcos Jr. the retention of the incumbent director general of the Philippine Economic Zones Authority (PEZA), B/Gen. Charito B. Plaza. Plaza received various endorsements for her outstanding performance in every endeavor as head of PEZA. Among the endorsers was the Federation of FilipinoChinese Chambers of Commerce and Industry, Inc. (FFCCCII) headed by its president Dr. Henry Lim Bon Liong which said that it “gratefully appreciates how Director General Plaza transforms the promotion strategy for export-based investment of PEZA for the Philippines from a private sector-driven into a public sector, in fact a whole-of-the-nation dynamics at her stewardship since 2016.” Meanwhile, the Semiconductor & Electronics Industries in the Philippines.

Inc. (SEIPI), said that in the past six years, DG Plaza has demonstrated “passion, assertiveness, dedication and diligence in working for the best interest of PEZA locators and country investments.” The IT & Business Process Association, Philippines (IBPAP), a major contributor to the Philippine economy, on the other hand, “recognizes and extols the pro-active stance” of Plaza since her appointment by former president Rodrigo Roa Duterte. The Confederation of Wearable Exporters of the Philippines (CONWEP), the largest association in the Philippines of the export manufacturing industry sectors of apparel, travel goods and footwear, said that Plaza has instituted major policy reforms revolutionizing PEZA to meet the challenging demands of the business environment in the country. Another valuable endorsement came from three big media organizations – the

Federation of the Provincial Press Clubs of the Philippines, Inc. (FPPCPI), the Boracay Global Press Corps Philippines Inc. (BGPCPI) and the Publishers Association of the Philippines, Inc. (PAPI), which recently convened for the Local Press Assembly 2022. The three convenors believed that Plaza’s “successes and impressive accomplishments complement precisely the stellar community of government agency leaders and make her highly deserving of the honor and opportunity to be reappointed to the PEZA post for the continuity of a globally competitive environment for investments in our country and in supporting ecozone as an emerging sector of the Philippine economy.” Plaza had extensive stint of servantleadership in the legislative, military and in some bureaus of the government for almost 40 years.

My Novotel Manila Boutique levels up hotel services

OVOTEL Manila Araneta City presents its first resident hotel services cloud, aptly named My Novotel Manila Boutique. The Novotel Manila Araneta City online boutique is a fresh new retail concept where hotel guests and dedicated Novo-fans can shop for popular staycations, unique spa treatments, buffet goodies, and a variety of items from the hotel’s famed TakeMeOut menu. All-time favorites, classics, and new delicacies are all available in one click at My Novotel Manila Boutique. Epicures can sample Indulge Boulangeri’s renowned chocolate chip cookies or pan au chocolat with just a few taps of their fingers. Choose from a variety of nutritious salads, and artisanal sandwiches from Gourmet Bar’s farm to fresh dining concept featuring freshly harvested greens

from the hotel’s very own organic farm in El Dorado located in San Mateo, Rizal. Choose one of Take Me Out’s specialty dishes, Butter Chicken Masala, or the 6th Manila’s premium drink menu. TakeMeOut by Novotel Manila will cater to your culinary demands, whether it's for a casual lunch, a special occasion, working from home, a romantic supper for two, or simply a quick excellent lunch in the workplace. Guests can also customize an intimate gathering through the hotel’s famed Memorable Moments or a wedding preparation for your loved one through the Social tab. Soon, Novo-fans will also have a chance to order more signature hotel services online such as flower arrangements, chef’s catering at home and more. “My Novotel Manila Boutique is just the beginning of endless possibilities for us to innovate and our hotel guests to have the liberty to choose according to their lifestyle, through various cuisines from our most-loved kitchens and reimagine Novotel brand experience from our exclusive online room offerings, takeout food menu, events, and buffet offerings at the convenience of this digital space. Sharing a well-thought platform for our guests’ journey” shares Novotel Manila’s Resident Manager Darwin Labayandoy. Score exclusive, limited-time offers at the hotel’s new digital space as Novotel Manila Araneta City brings the joys of dining and purchasing your exclusive room and spa vouchers online. The online boutique is available 24/7 daily and Take Me Out food and beverage offers are available for ordering between 9AM to 9PM daily, and ordered directly through my.novotelmanilaaranetacity.com.

party list, and then six years later he was designated as House Deputy speaker. Among the acts Estrella is credited for includes the Organic Agriculture Act of 2010, the act to strengthen the resiliency of small farmers against climate change, the act declaring November as National Farmers and Fisherfolk month, and the act establishing the agriculture information system in all cities and municipalities. The “grand son” of Agrarian Reform, a true fighter for truth who was cleared of pork barrel charges, is expected to lead the executive department in the distribution of farm land within the country. He will definitely empower the potent force of a good mix of wisdom he inherited from his bloodline of effective leaders and the call for significant unity among Filipinos that the new administration vocally expresses.

TARBUCKS Philippines champions sustainability and digital innovation as they unveil their initiatives for 2022 and beyond. In a media roundtable, the company went in-depth on new digital services and sustainability efforts that help give back to the planet, while enhancing its customer experience. “We are very excited to be introducing these new initiatives for sustainability and digital innovation. Through these efforts, we can connect with our customers better, and focus on the well-being of our planet to create a better shared future,” said Jamie Silva, Senior Manager for Marketing, Digital Customer Experience & Loyalty at Starbucks Philippines. Starting June 23, a seamless integration with Starbucks Rewards will allow customers to earn 1 Star for every Php40 spent on Starbucks orders. Every 100 Stars collected converts to a free Starbucks beverage or food reward, redeemable in stores.

eGifting is now also available through GrabGift and GLife, allowing customers to digitally send Starbucks favorites to their loved ones. Starbucks eGifts can be purchased starting at Php 100 on GrabGifts and Php 300 on GLife. eGifts from GLife can be used to pay in Starbucks stores while eGifts from GrabGifts can be used to purchase orders from Starbucks on GrabFood. Last March, Starbucks FoodShare launched in the Philippines starting with 40 stores in Metro Manila. Through Starbucks’ ongoing partnership with Grab, participating stores can connect with Grab drivers to pick up and deliver food donations daily. The donations are donated to Philippine Food Bank Foundation, a local non-profit organization, to be distributed to select beneficiaries within Metro Manila daily. To date, the program has served over 50,000 meals from more than 200 stores. The company’s goal is to continuously expand the program to more stores outside Metro Manila and serve more communities. The Starbucks Foundation commits a $30 million investment in the Global Community Impact Grants by 2030. These grants aim to support programs that create meaningful impact, both locally and regionally. For Starbucks Philippines, a total of $70,000 in grants have been awarded to Gawad Kalinga, HOUSE Foundation, and Teach for the Philippines. These grants will be directed to hunger relief and youth development programs from 2nd half of 2022 to 1st half of 2023. “As we introduce more initiatives to enhance the Starbucks Experience, I look forward to collaboratively creating a better future for all,” said Noey Lopez, President & CEO of Starbucks

Pueblo de Oro among top 10 developers

UEBLO de Oro Development Corporation (PDO), the property development arm of the ICCP Group, was named among the Top 10 Developers in the Philippines in 2022 during the recent BCI Asia Awards Philippines. The awards recognized the top 10 property developers and the top 10 architects in the Philippines, ranked by the total value of projects under construction in 2021. These rankings were also weighted by the extent of the firms’ sustainability

efforts, encouraging the creation of socially responsible architecture. In photo are Pueblo de Oro president and chief operating officer Prim Nolido (second from right) and senior vice president Leonardo Dayao, Jr. (second from left) receiving the award from BCI Central Philippines general manager Stanny Pamintuan (left) and International Finance Corporation senior country officer Thuy Bui during the ceremony held at the SMX Convention Centre Manila.

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Monday, July 11, 2022 B7

The coronavirus chronicles: The art of winning at meetings

PR Matters

E’VE all heard the phrase Death by Meetings, and it’s not surprising. After all, as Bill Novelli says in an article in prnewsonline, “we spend enormous amounts of time in live and virtual meetings—probably the most common and consuming activity in our professional lives.” Many meetings, he says, are long, inefficient, unproductive and boring. And as communicators, “we are especially meetingconscious (and meeting-fatigued)” because they usually operate throughout the organization. But how can we make it better—how can we win at meetings? Drawing from his vast experience, Novelli—professor, author, and Georgetown University’s Business for Impact Center founder— shares with us 5 Tips to Help PR PROs Win at Meetings:

n Be a big contributor

This means preparing for meet-

n Events: Ortigas Arts Festival paints broader stroke of Philippine art with film, dance, and visual arts

MANILA, PHILIPPINES—tOrtigas Art Festival returns for its 5th year with a month-long celebration of Filipino art in forms. “This year’s festival paints a broader stroke of Philippine art where we encompass more art forms from visual art, film, dance, and even pottery,” said Renato “Mang Ato” Habulan, head curator of Ortigas Art Festival. “We want to show the diversity of talents across many disciplines Filipino artists have and we are honored to present all of those—and more—through this year’s exhibit and festivities.” Launched in 2018, the Ortigas Art Festival was created with the goal of making art accessible to everyone. From featuring over 60 lo-

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By Millie F. Dizon

ings, sug gesting constructive agenda items, taking on “next step” tasks at the end of the session, and adding substance to discussions. Novelli says “this will impress colleagues and set an example. In a short time, this improves meeting performance, which is what you need.” While virtual meetings may be more difficult “because it’s harder to read a room and zero in on a particular person,” Novelli believes this can be done.

n Let others talk first... There is always the temptation

to grandstand and impress. But talking too much may not always give us the desired results. Sometimes, it is better to listen. This is especially true when there are participants from outside your company or if you are in a client meeting. This way, “you can size up the situation, and deliver a compelling, persuasive response.” When negotiating, Novelli says

cal artists during its first run, the number of artists who participated in the festival reached more than 200 and even included artists from Southeast Asia, America, and Europe in 2020. Running from July 7 to August 7, the festival will showcase a wider variety of Filipino arts and culture across five pillars: Painting & Sculpture, Film and Photography, Dance and Fashion, ArtisTree, and Workshops. “We believe that art has the power to connect people and uplift their spirits, especially at trying times. We’ve proven that when we ran the festival for two years under a pandemic. Now that we’re slowly recovering and embracing the new normal, we believe that there is no better time to show that Philippine art is alive and well and is for everyone to enjoy,” said Arch. Renee Bacani, vice president of Ortigas Malls. “Through the Ortigas Art Festival, we reiterate our mission in bringing art to a wider audience and supporting the local art scene and community by including art in all its forms in this year’s celebrations.”

that it is best to know your objective, and aim to get 75 percent of what you are seeking. Maybe even a little less. He cites Ronald Reagan, who supposedly said, “Give me 60 percent of what I want, and I’ll come back and get the rest later.” It will be good to remember that “total victory is unrealistic and usually happens in the movies.” Give the other side a sense of winning, too.

n Don’t avoid conflict...

We all have different points of view, and conflicts are inevitable during meetings when we try to develop concepts and directions, as well as resolve issues that divide us. When this happens, Novelli believes it’s best to “set ego aside and rea l ly listen to counterarguments,” and being open to criticisms of your own ideas and proposals. He mentions how a colleague he knew “would invariably end meet-

Painting and Sculpture will feature works from local galleries– Agos Studios, Bastedor Art Project, Vmeme Contemporary Art Gallery, Linangan Art Residency, Red Lab Gallery, Thombayan Art Space, and Makiling Art Studio; and celebrated visual artists Rita Bustamante and Rico Lascano. Film and Photography will be led by the Film Development Council of the Philippines (FDCP) and Born in Film who will be hosting retrospectives and late-night screenings of restored Philippine films, and from National Artists for film during the festival. FDCP will also be holding its 2nd Vertical Cinema Contest during the festival. Performing Arts and Fashion will see Ballet Works Manila hold special performances during the Vernissage on July 7 and on July 31 while the Fashion Designers Association of the Philippines will be presenting some of its best designs and creations throughout the month-long event. ArtisTree will have the Learning Tree Child Growth Center that will showcase some of the masterpieces of its alumni, teachers, and students

ings in a boil, and then bring it with him to the next one. He was almost never effective.” At the end of the day, it’s all about being professional amid conflict. “Achieving what’s important may involve some disharmony,” he says, “but a handshake at the end can dispel lingering anger.”

n Turn problems into opportunities

In an imperfect world, there will always be problems—roadblocks, and difficulties in making our goals a reality. These can come up during meetings, and for Novelli, the key is coming up with solutions. Better still, he suggests that we can turn these into opportunities that can make a difference. It will take a lot of creativity, hard work, and sheer determination, but it’s worth a try.

nSurprise and delight colleagues Make it Life, not Death by Meetings.

from Preschool, Grade School, and High School. They will also be holding several workshops such as painting, 3D art, paper cutting, paper sculptures, pottery, and oil pastel drawing for children and adults alike. FDCP and Born in Film will conduct workshops such as Cinematography, Storytelling, and Film Editing while Born in Film will be conducting Creative Visual Storyline and Mobile Photography workshops, perfect for Film buffs and photography enthusiasts. They will also feature 2,000 inspiring photos from around the world. Meanwhile, those interested in getting their hands into pottery can also join the pottery sessions led by Big Mac for both adults and children as part of its Workshops, which will be exclusive to Ortigas Community Card members. Ramon Santos, pride of Pasig City for being a National Artist for Music, will be holding a special exhibit on the second floor, showcasing a wide variety of art forms and artistry to foster appreciation for Filipino art and artists. Santos is a composer, conductor, and musicologist, and is currently the country’s foremost

This can be done by an unexpected guest, a box of treats, a simple gift, an on-point story-telling or anecdote can loosen up the atmosphere and combat fatigue, sameness, and boredom. All in all, meetings won’t go away as “ humans congregate. But we can make them better and more productive. Think about keeping score and winning every meeting.” PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

exponent of contemporary Filipino music. “What we want in this year’s iteration is to introduce Filipinos to the works of some of the country’s best while stoking their interest and appreciation for Philippine art,” said Helen Mirasol, art patron and one of the co-founders of Ortigas Art Festival. “This is a month-long celebration of our art and artists where everyone is invited—no matter if you’re an art connoisseur or a regular person who wants to find the art form that will speak to their soul. Everyone is welcome at Ortigas Art Festival.” The Ortigas Art Festival runs from July 7 to August 7 at the Estancia East Wing, Capitol Commons, Pasig City. Admission is free. To get the full festival schedule, follow Ortigas Art Festival on Facebook and visit ortigasmalls.com for the latest info on upcoming events and activities. Sign up for the Ortigas Malls Community Card by downloading the Ortigas Malls Mobile App and unlock your access to the amazing perks, privileges, and workshops during the festival.

HER MAJESTY...QUEEN ELENA!

IMBLEDON, England—As “unexpectable” and “unbelievable” as Elena Rybakina found her Wimbledon championship to be and as “super happy” as she was about winning a Grand Slam title at age 23 and ranked 23rd, her immediate reaction to grabbing the last point of the final Saturday was as muted as possible. She exhaled. She walked to the net to shake the hand of her opponent, No. 2-ranked Ons Jabeur. She allowed herself only the slightest of smiles as she looked up to glance at the excitement in the Centre Court guest box. No screams of joy. No jumps in the air. No collapse onto the grass. “I need to teach her,” the effusive Jabeur noted later, “how to celebrate really good.” It was not until more than two hours after the conclusion of her 3-6, 6-2, 6-2 victory over the No. 2-ranked Jabeur that Rybakina was overcome by the significance of it all, including earning the first singles trophy at a major tournament for her adopted country of Kazakhstan. That moment of realization came when, during a news conference filled with questions about her lack of outward expression on court, a reporter asked what Rybakina thought her parents’ reaction would be to this triumph. They were not on hand Saturday—she had not spoken to them yet. “Probably,” she said, her eyes welling with tears, her face reddening, her hand placed over her mouth, “they’re going to be super proud.” And then, after a pause, Rybakina joked: “You wanted to see emotion!” This was the first Wimbledon women’s final since 1962 between a pair of players both making a debut in a Grand Slam title match, and Rybakina acknowledged being nervous at the start. When she stepped into the sunshine filling the 100-year-old stadium, she did not wave to the spectators, the way Jabeur did. Instead, Rybakina kept a firm double-grip on the black-and-red straps of the racket bag slung over her shoulders. And it was Jabeur who played better in the early going, handling Rybakina’s strong serve and groundstrokes to break for a 2-1 edge. Rybakina’s miscues mounted. A volley into the net tape with the full court wide open. A netted forehand after Jabeur barely got a short return in. When another forehand off Rybakina’s red racket went awry, Jabeur broke at love to take the opening set, yelled “Yalla!”— Arabic for “Let’s go!”—and threw an uppercut as she walked to the sideline. Jabeur, a 27-year-old from Tunisia, entered on a 12-match winning streak, all on grass courts, and was trying to become the first Arab or African woman to win a Slam singles title in the professional era, which dates to 1968. “I just try to inspire as many generations as I can,” said Jabeur, who had stored a photo of the Wimbledon women’s singles trophy on her phone for inspiration. “I hope they’re not really disappointed, but I’ll try my best next time.” AP

Sports

ITALY’S Mattia Cattaneo (left) and Britain’s Fred Wright are in the breakaway during the eighth stage on Saturday. AP

BusinessMirror

| Monday, July 11, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Van Aert rules 8th stage but Pogačar extends lead L AUSANNE, Switzerland— Belgian rider Wout van Aert won the eighth stage of the Tour de France on Saturday in Switzerland and two-time defending champion Tadej Pogačar slightly increased his overall lead. Van Aert, who won the fourth stage and wore the yellow jersey for three days, edged Michael Matthews in the sprint to the line on the summit finish. Pogačar was third, with the Slovenian rider picking up more valuable bonus seconds, at the end of the hilly 186-kilometer (116-mile) route from Dole in eastern France to Lausanne. “I’m super happy,” Van Aert said. “I’m really glad my team put just everything in to chase down the breakaway, and then you have to finish it off. “It was a pretty tough [final] climb... really steep, so I had to fight to stay in the wheel of Pogačar and his teammates,

FOR Elena Rybakina, there are no screams of joy, no jumps in the air and no collapse onto the grass after winning Wimbledon. AP

Powerlifting bet Reboton settles for 9th place in Birmingham WG

OYCE GAIL REBOTON wound up ninth in women’s powerlifting on Sunday locking the Philippine campaign in the Birmingham World Games to Junna Tsukii’s karate gold medal so far. The 30-year-old Reboton, lifting out of Mabalacat, Pampanga, accumulated 99.16 points from her 242.50 kgs in squat), 147.50 kgs in bench press and 212.5 kgs in deadlift to finish ninth among 12 athletes in the heavyweight finals. Poland’s Agata Sitko won the gold medal with 119.12 points (270 kgs squat, 195 kgs bench press and 261 kgs deadlift), with the Virgin Island’s Kelsey McCarthy bagging silver with 109.44 (242.5-170 kg-212.5) and Italy’s Francesca Parrello taking home the bronze with 106.25 (257.5-140-247.5 kg). “Hopefully there will be more opportunities for more exposure for me,” Reboton said from the Team Philippines’s quarters in Alabama. “I hope I made our country proud. We will train harder and come back stronger.” Brazil’s Cicesara Tavares (105.46), Norway’s Marte Elverum (104.57), Germany’s Cathrin Silberzahn (101.52), Slovakia’s Ivana Horna (101.42) and Ecuador’s Johanna Aguinaga Ramos (100.52) finished ahead of Reboton. Rounding out the competition were Ines Kharer of Austria (92.92), Sonja Kruger of Germany (91.84)

Exodus THE song goes, “Exodus… movement for Jah people.” That’s from the song, “Exodus,” from Bob Marley and the Wailers’ most excellent album of the same name that was

and Kloie Doublin of Virgin Islands (disqualified). “It was a very good effort for Joyce and Coach Willord Capulong,” Chef de Mission Patrick “Pato” Gregorio, also the rowing president, said. Reboton made the World Games as a wildcard following her four gold medals in the 76-kg class of the 2021 Asian Classic-Equipped Powerlifting and Bench Press Championships in Istanbul, Turkey. Tsukii ruled on Saturday the women’s kumite -50 kgs gold medal in karate’s women’s kumite for the country’s second gold medal in the World Games after Carlos Biado’s men’s 9-ball of billiards victory in the Wroclaw 2019 edition of the competition that feature widely-played sports that are not on the Olympic program. Biado and Rubilen Amit will be competing in billiards, Annie Ramirez in jiu-jitsu, Philip Delarmino and Leeana Bade in muaythai and Marion Kim Mangrobang, John Chicano and Fernando Caseres in duathlon in the following days of the 10-day games that gathered 3,600 athletes from 110 countries. Josef Ramos

released on June 3, 1977. However, I am not writing about that famous reggae album or its equally famous but long departed vocalist. When we broke the news that former Ateneo Blue Eagle and current national player William Navarro was headed for the Korean Basketball League, the song popped into my head. It isn’t a movement per se, but that’s a lot moving abroad and I am happy for them. This is not a shot at anyone or even the country’s professional league. They know what is wrong and what needs to be done to make it return to the position as the country’s premier sporting spectacle. So take it for what it is… I think this will only improve the game of local basketball. The National Basketball Association (NBA), of which the Philippine Basketball Association (PBA) is patterned after, has opened their game to foreigners. You cannot say that they are highly advanced. Well, the local league is close to

but I knew if I could stay in the wheel the sprint was a little bit flatter so I was waiting for that moment.” Pogačar, who won both previous stages, just missed out on a hat trick of victories but extended his advantage to 39 seconds over Jonas Vingegaard and 1:14 ahead of 2018 winner Geraint Thomas. “It was not that far away but it was a fun game today. I maybe hesitated a bit and Van Aert passed me with super speed. For sure it’s a little bit disappointment but third place is still great,” said Pogačar, who rides for UAE Team Emirates. “I always like sprinting, but when I was younger I was the smallest and almost always the last. So I’m really happy that now, at least when it’s going up, I can do a solid sprint in the end, but still not as close as Matthews and Van Aert.” There was disconcerting news

before the start of the day as Geoffrey Bouchard and Vegard Stake Laengen became the first riders to leave the race after testing positive for the coronavirus. Multiple support staff also tested positive. American cyclist Kevin Vermaercke had to abandon early on in the stage after being caught in a crash at the back of the peloton, shortly after the start. The peloton regrouped but the chaos gave the breakaway riders the opening they needed. Mattia Cattaneo, Fred Wright and Frederik Frison swiftly built a lead of around three minutes. The trio led for most of the day. Frison was the first to be dropped, as they headed towards the penultimate of the three categorized climbs. It was then the turn of Cattaneo, and Wright was eventually caught on the final ascent, with 3.5 kilometers remaining. AP

Magsayo loses last PHL world boxing title By Josef Ramos

ARK “MAGNIFICO” MAGSAYO knocked down Mexico’s Rey Vargas in the ninth round but ended up losing via split decision as the country lost its last world boxing title on Saturday (Sunday in Manila) at the Alamodome in San Antonio, Texas. Magsayo unleashed a solid right hook to Vargas’s face for the knockdown, but the Mexican got back on his feet and having piled up points most of the 12-round duel, went on the snatch the Tagbilaran City boxer’s World

Boxing Council featherweight crown. “It’s his [Vargas] day. No matter what, I will come back stronger, I am disappointed but I did my best,” Magsayo, trained and coached by Hall of Famer Freddie Roach, said. Judges Tim Cheatham and David Sutherland favored the 5-foot-10 Vargas with 115-112 scores while Jesse Reyes gave the 5-foot-6 Magsayo 114-113. Magsayo failed to capitalize on the knockdown as the lanky Vargas played mouse to the Filipino’s cat strategy the rest of the way. Vargas, fighting under former Mexican world champion Juan Man-

Salem, Quiambao top 5150 triathlon RAVEN ALCOSEBA books a wire-to-wire triumph in the Sunrise Sprint.

ANAO DEL NORTE’S Norte’s Satar Salem banked on his speed and staying power to capture the overall crown in the Sun Life 5150 Triathlon while Andrew Remolino and Raven Alcoseba split the Go for Gold Sunrise Sprint honors on Sunday in Panglao, Bohol. Bea Quiambao of The Next Step Tri also shared the spotlight by bagging the overall 5150 crown in women’s side, posting a two-hour, 27-minute and 13-clocking to beat Moira Erediano of Go for Gold and Karen Manayon, who timed 2:36:45 and 2:39:25, respectively. Quiambao also topped the 20-24 age category while Erediano clinched the 15-19 title. Trailing Waldo van der Nest in the swim and bike legs, Salem saved his best for last, taking charge in the first 2.3 kms of the closing run part and sustaining his pace to the finish to claim the coveted overall honors in the event organized by the Ironman

50 years old so if you say that it is in its infancy then we are terribly backwards. Now, there are options for players. They no longer need to play for one league but multiple ones. Aside from the PBA, you have the Maharlika Pilipinas Basketball League, the VisMin Cup, and they can play their trade in Japan, Taiwan, Korea, or even the old Asean Basketball League or ABL (when it gets up and running again). Because there are so few teams in the PBA, the options are fewer. Furthermore, the turnover is really quick. What is the average career of a player—five years? They draft you (if you are selected to begin with), play you or bench you then release you. Furthermore, you have overstaying players who occupy roster spots at the expense of others. When the ABL allowed Filipinos to play as imports, that was a sign that our neighbors respect the Filipino basketball player. And now, even more leagues at home and abroad

uel Marquez’s head trainer Nacho Beristain, extended his unbeaten record to 36 wins with 22 knockouts. It was his second division title after holding the WBC super bantamweight belt in 2017. With the loss—the first for the 28-year-old Magsayo in 25 fights (16 knockouts)—the Philippines is now without a world champion after having at least seven boxing kings at one time in early 2019. Rene Cuarto lost his International Boxing Federation minimumweight belt to Daniel Valladares of Mexico only last week in Monterrey. Group/Sunrise Events Inc. He timed 2:07:40 over the Olympic distance of 1.5-km swim, 40-km bike and 10-km run with the Tri SND Barracuda mainstay also ruling the 25-29 age group division of the event graced by Bohol Governor Aris Aumentado, Panglao Mayor Edgardo Arcay and Dauis Mayor Roman Bullen. The victory also primed the 26-yearold ace for next month’s Ironman 70.3 in Cebu, where he emerged as the top Filipino finisher in the IM Asia Pacific Championship in 2018 while competing in the 18-24 category, Van der Nest lost steam in the run stage and tumbled out of the top 10 overall. He also settled for third with 2:20:13 clocking in his age category (30-34) topped by Jorry Ycong of Omega Tri Team, who timed 2:14:05. Ycong also wound up fourth overall with Jonathan Pagaura of Rider Omega Triathlon team finishing runner-up in 2:08:04 and Salem’s teammate Jailani Lamana posting a 2:12:24 for third in the event marking the return of the sport after a two-year hiatus.

have opened their doors. The entire world is opening up in many aspects. Sports included. Philippine sports is like Japan before the Americans forced her to open her ports. Very backward in thinking. And yet, when Filipinos go abroad, it is deemed all right. Kinda selfish don’t you think? You can’t have your cake and eat it too. I wish William Navarro all the luck. Not all the money can make your career. If you don’t cut it over there… then what is next? I wish all those plying their trade abroad the same because it isn’t just about hoops but adapting to a new culture, language, climate, time zone and style of playing. It isn’t easy and that is an understatement. Change and opportunity. It’s a movement for Jah people. Welcome to the world of international hoops.

Philippine Ports Authority A BusinessMirror Special Feature

www.businessmirror.com.ph

Monday, July 11, 2022 C1

PPA: CONNECTING THE PHILIPPINES AS ONE MARITIME NATION Time really flies… Fast!

HIS as the Philippine Ports Authority (PPA) celebrates its 48th Founding Anniversary today with the theme “Kaagapay sa Pag-ahon sa hamon ng Panahon.” Let us go down memory lane as we highlight the accomplishments of the agency leading to its status as one of the most successful Government-Owned and Controlled Corporations as it continues to be a member of the “billionaires’ club” in terms of dividend remittances. While there is still a lot of work to be done, the realization of the plans and programs of the previous administration has prepared the PPA for the future as the world recovers from the effects of the COVID-19 pandemic and as the agency slowly transitions to the new administration.

THE GET GO

In 2016, the PPA changed its mindset from top management down. This drastic paradigm shift was undertaken to implement change and improve the way PPA serves the public, the way the Authority implements its projects, and raises the level of comfort and convenience it provides to the sea-traveling public. From that time on, PPA personnel slowly embraced and lived the dreams and aspirations of the administration. As such, all other

changes were smoothly enforced. This shift in outlook resulted in positive deviation across the entire agency’s operational aspects and filled the first full year of the new leadership with great possibilities, anticipation, and enthusiasm.

STEPPING UP THE PACE

To continue the positive momentum, the PPA initiated another change in 2017, this time on the very symbol that represents the Authority, its logo. The reason behind the change is to integrate all aspects of port operations instead of focusing only on the agency’s core business. Positive results were immediately seen with the Manila Ports, composed of the Manila International Container Terminal (MICT), South Harbor, and North Harbor, as it jumped four notches higher in the Top 100 container ports in the world from 36th to 32nd and finished 22nd in the Top 100 container ports in Asia. The year 2017 will be remembered as the Golden Age of Infrastructure. As the PPA performed well during that year, it was encouraged to pursue its plans and programs for the following year.

FULL STEAM AHEAD

If the change to the PPA logo was implemented in 2017, the year 2018 was when it was launched, signaling the agency’s rebirth. It

PPA officials receive APSN Green Ports Award for Cagayan De Oro Port.

was armed with renewed enthusiasm and eagerness to dispense unparalleled public service not only to the port users but to the entire nation.

The agency accomplished much in 2018 starting with the APSN (APEC Port Services Network) Green Port Awards for the

Ports of Batangas and Cagayan de Oro. The Development Academy of the Philippines also recognized the

PPA and PMO Misamis Oriental/ CDO for fostering a Green Culture for Port Operations and Management under the Government Best Practice Recognition. The Port Management Offices also got their respective ISO QMS, EMS, and OSH certification. The awards were testaments to the initiatives of the PPA toward environmental protection. The Authority slowly reaped the benefits of its hard work particularly in complying with the stringent requirements on Environmental

Continued on C2

Philippine Po

A BusinessMirr

Monday, July 11, 2022 | www.businessmirror.com.ph

PPA: CONNECTING THE PHILIPPI

Batangas Port

Calapan Port

CDO Port

Baybay Port

Coron Port

Dapitan Port

Continued from C1 Management and Occupational Safety and Health. During this period, the PPA also emphasized its workforce development, both Organic and Outsourced, by implementing a bridging program to uplift the competencies of existing personnel while giving its outsourced personnel equal opportunity to dangle an entry-level position provided, they have the eligibility requirements. This year, the PPA injected some P3.3 billion for its infrastructure projects in support of the BBB or Build, Build, Build initiative of the national government.

CRUISE CONTROL

The year 2019 was a milestone year for the PPA as it posted all-time highs in terms of ship calls, passengers, cargo volumes, revenues, total taxes paid, and dividend remittances. This performance was due to the shift from manual to automated processes, installation of sophisticated, effective, and highly productive port equipment in compliance with the world’s best practices, and most especially the shift in the outlook of employees to public service with reliability, integrity, and accountability. This enabled the PPA to help the government achieve its goal of giving comfortable lives to every Filipino not only through higher dividend remittances but also through efficient, effective, and fast delivery of port services to stakeholders and port users. During this period, the PPA invested P4.6 billion in its port projects, the biggest expense since 2010. The year 2019 was also the second straight year that the PPA scored big in the annual port user satisfaction survey, particularly on the aspect of integrity. It scored a satisfaction rating of 4.43 or the equivalent to Very Satisfactory on top of its port facilities and services rendered. Undeniably, 2019 was a banner year for the agency.

SPEED BUMP

The following year 2020 was an upbeat one for PPA as it hoped to overshadow its performance from the preceding year until it hit a hump – the Covid-19 pandemic.

Nonetheless, PPA wasted no time and immediately mobilized its personnel and other resources to help the government properly respond to the health emergency initially by remitting in advance its dividend worth about P5 billion, which is 7.5 percent higher than the regular 50 percent required by law. Despite the pandemic, PPA made sure that all ports remained open to manage the processing and delivery of cargoes, particularly essential products, to the rest of the country and to the country’s foreign trading partners. At the same time, the agency also established the needed border controls as well as safety, security, and travel protocols to prevent any Covid-19 transmission in any PPA port. In cooperation with the private sector, led by the Lopez Group of Companies, the PPA established two Covid-19 recovery facilities, the first one in the Manila South Harbor in April 2020 and in Port Capinpin in Bataan in October of the same year. These amenities also served as quarantine facilities for on-signer and off-signer seafarers since the two ports were also declared as dedicated crew change hubs and guaranteed the movement of seafarers manning the international fleet. Eventually, several more PPA like Batangas and Davao were declared additional crew change hubs. PPA likewise granted financial assistance to the critically impacted sector in line with Republic Act No. 11494 or the Bayanihan to Recover as One Act as well as waived and/or reduced port fees and charges in consonance with the Hatid-Tulong Program of the Office of the President for locally stranded individuals. Several initiatives were undertaken to show the Bayanihan spirit among the PPA PMOs and help as they extended help not only its affected personnel but also to its nearby communities. PPA was also able to complete more than 27 port projects despite the pandemic without any transmission or casualty due to Covid-19. The pandemic, however, affected its volumes and revenues. Nonetheless, PPA saw an opportunity to work together with the government and improve its services to the public. The Covid-19 pandemic slowed

down PPA’s path to achieve its 2020 vision for the future. However, with all the learnings from the pandemic, the PPA was prepared more than ever to face the new normal and sustain the progress with the end goal of giving Filipinos comfortable and convenient lives.

MOVING FORWARD

The rebound from the pandemic. The PPA remained undeterred as it moved forward to deliver its contribution to the advocacies of the government. Recognizing the things that still needed to be done to provide seamless connectivity between and among the islands, the PPA prepared a plan to ensure that PPA ports are ready for the transition and for the future when the other countries are expected to recover from the adverse effects of the global health emergency. PPA was able to complete 88 port projects, which included the new Port Operations Building at the Port of Dumaguete, the seven seaport development projects in Bohol, the seaport expansion project in Puerto Princesa, Palawan, the eight seaport developments in the twin provinces of the Mindoro Island, and the seaport expansion and development projects in Zamboanga City The agency also revised its mission-vision statements and calibrated its core values to guide the PPA until 2030. It also upped the ante by remitting at least 60 percent of its net income to national coffers. Overall, the PPA exceeded expectations across all aspects of its operations. In fact, the sixyear dividend remittance or from 2016-2021 recorded by PPA overshadowed the combined dividend remittances post Edsa Revolution through 2015 and almost tripled the amount registered from 2010 through 2015. In terms of infrastructure, the PPA completed 248 seaport development projects, which formed part of the total 586 seaport projects completed under the BuildBuild-Build program of the Duterte Administration. In fact, at least seven seaport projects are expected to be inaugurated by the new administration in its first 100 days in office. This is your PPA, 48 years after!

orts Authority

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INES AS ONE MARITIME NATION

Rescue boats

Dumaguete Port

Palamigan ng bayan

South Harbor Quarantine

Talaga Port

Matnog Port

OSS

Firetrucks

AMID A HARVEST OF AWARDS, YOUR SUPPORT COUNTS MOST

HE pandemic tested the media industry, forcing newsrooms around the world to overhaul the way they do their job while following strict health protocols in order to survive a deadly infection. The BusinessMirror, the country’s premier national business daily, was tested like everyone else, and survived, even continuing to live up to its promise to provide a broader look at today’s business. In November 2021, the business broadsheet was recognized as the “Business News Source of the Year” for 2020 by the Economic Journalists Association of the Philippines (Ejap), the country’s premier organization of business reporters, editors and wire agencies. It was a 4-peat for BM, having gotten the same honors for the years 2017, 2018 and 2019. And, as in the past Ejap awards, it also swept half of the individual categories, with its seasoned reporters adjudged as best in their respective coverages. Earlier in 2021, the BusinessMirror was given the Pro Patria Award by the Rotary Club of Manila, for “its commitment of valuable resources for the protection of free expression and its resilience in disseminating fair and truthful information resulting in an informed and enlightened citizenry.” It was just the latest recognition from the prestigious Rotary Club, which named it “Business Newspaper of the Year” for 2018-2019, and again in 2020. In all, it has received six top

Rotary journalism awards in its short 16-year existence. The BusinessMirror has also consistently reaped top awards in the Brightleaf Journalism Awards for Agriculture and the Philippine Agricultural Journalists-San Miguel Corp. (PAJ-SMC) Binhi Awards, also for the best in agriculture journalism. The BusinessMirror was also repeatedly adjudged the leading daily in biotechnology journalism, a recognition bestowed by the Jose G. Burgos Jr. Biotechnology Journalism Awards. The “broader look” mantra also drew recognition from the Philippine Statistics Authority (PSA) which named the BusinessMirror, at its first awards rites in 2018, as the inaugural “Data Champion.”

In the first “Bantog Science for the People” awards for media from the Department of Science and Technology, the BusinessMirror got the top award for the Institution category for Print; and the grand prize in the individual category for science journalist Stephanie Tumampos. In 2018, Environment Reporter Jonathan Mayuga received the Luntiang Aligato award from the Climate Reality Project, a nonprofit organization founded by Nobel Laureate and former US Vice President Al Gore. The Broader Look at biodiversity was also recognized. It was named among the Asean Champions of

Biodiversity, for the Media Category, by the Asean Centre for Biodiversity. The Broader Look also extended to the paper’s corporate social responsibility. It organized and staged the first-ever recognition rites for the best of the Philippines’s friends in the world, with the “MISSION PHILIPPINES: The BusinessMirror Envoys & Expats Awards.” The initiative won a Gold Anvil in 2019. Distinguished institutions in government have also repeatedly recognized the BusinessMirror’s role in spreading the word about the work they do—information that shines a light on good governance and committed public service to uplift people’s hopes. Most notably, these are the Social Security System and Pag-IBIG Fund. Sixteen years, two of them in a pandemic, have tested the promise of a Broader Look. But they are also a measure of the unstinting support of friends—advertisers and news sources alike—and readers who continue to believe in that promise.

THANK YOU, EVERYONE. YOUR LOVE AND SUPPORT IS OUR MOST IMPORTANT TROPHY.

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