BusinessMirror July 21, 2021 by BusinessMirror

House may adopt Senate Pogo tax bill By Jovee Marie N. Dela Cruz @joveemarie

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HE House of Representatives is amenable to adopting the Senate-approved version of the fiscal regime for Philippine Offshore Gaming Operations (Pogo), which will raise P176.9 billion in government revenue in five years. House Committee on Ways and Means Chairman Joey Sarte Salceda of Albay said Speaker Lord Allan Velasco approved the recommendation of his panel to adopt the Senate Bill 2232 since “it was mostly a restatement of the House version, which is the first draft of this measure.”

We stand to gain P13.4 billion on the first year, and P176.9 billion over five years from this measure. We expect Pogo revenues to grow with more clarity in the fiscal and regulatory regime, as well as the recovery of China’s economy,” Salceda said. Once we adopt it, there will be no need for a bicameral conference committee. SONA [State of the Nation Address] happens on Monday. We can send President Duterte a bill to sign by Tuesday’s session,” Salceda added. Congress will open its third and last regular session on July 26. Earl ier t his week, Sa lced a wrote an aide memoire to the House leadership recommending

the adoption of the Pogo tax regime passed by the Senate. “This is also the Speaker and the House leadership heeding the President’s certification of urgency of the bill. The Speaker’s style has been outcomes-based, and the Senate version’s outcomes are acceptable to us,” Salceda said. “Last Monday, the Speaker and I had extensively discussed policy reforms. One item we talked about was the Pogo tax reform. I explained the differences between the House and the Senate versions. I showed that the Senate version is primarily a restatement of the House version. There are absolutely no differences in revenues raised. The tax administration

provisions are slightly different, but any rough edges can be resolved by regulation,” Salceda added. The lawmaker said both versions impose a 5-percent tax on gross gaming receipts for “offshore gaming licensees” and a 25-percent tax on gross income for nonresident aliens working under the Service Providers of these licensees. Both also clarify that service providers to Pogos are domestic corporations, and are thus subject to the regular national and local taxes applicable to domestic corporations. The bills also impose a 5-percent tax on gross gaming receipts and revenues from other services. See “Pogo,” A2

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Wednesday, July 21, 2021 Vol. 16 No. 280

ADB KEEPS PHL GROWTH EXPECTATIONS IN ’21, ‘22 n

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MORE LAYOFFS THAN RESIGNATIONS IN H2

ESPITE the g radua l improvement of the economy after growth plunged in t he s e cond q u a r t e r l a s t y e a r, t h e r e w e r e still more workers who w e re l a id of f comp a re d t o t ho s e w ho re s i g ne d i n t he second ha lf of 2020, accord i n g t o t he Ph i l ip p i ne St at i st ic s Aut hor it y ( PS A ). The Labor Turnover Survey (LTS) results in the National Capital Region (NCR) in the third and fourth quarters of 2020 showed, PSA said, that for every 1,000 employed persons, 79 workers were laid off and 52 workers voluntarily quit their jobs in the second half of last year. PSA said the LTS rate was at 0.1 percent in the third quarter, implying that for every 1,000 workers, one was added

Filipino Muslims celebrate Eid al-Adha at Esmael Masjid in Barangay Holy Spirit, Quezon City on July 20. Eid al-Adha, Arabic for Festival of the Sacrifice, marks the culmination of the annual pilgrimage to Mecca and honors the willingness of Abraham to sacrifice his son Ishmael to show obedience to God. NONOY LACZA By Cai U. Ordinario

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LUGGISH private investment amid continued vaccinations has prompted the Asian Development Bank (ADB) to maintain its growth expectations for the Philippine economy this year and next year. See “ADB,” A2

PESO exchange rates

to the work force. However, the gain was short-lived since the fourth quarter saw the LTS rate contract 0.3 percent. “For the last quarter of the reference year, labor turnover [declined] 0.3 percent which indicates a reduction of three workers for every 1,000 persons employed in the total work force,” PSA said. Further, the accession rate for the third quarter of 2020 was registered at 8 percent while it was at 4.8 percent in the fourth quarter of 2020. This meant that for every 1,000 employed, only 80 workers in the 3rd quarter, and 48 workers in the 4th quarter, were hired due to either expansion of business or replacement of separated workers. See “Layoffs,” A2

Boost cyber security for green tech, firms told By Tyrone Jasper C. Piad @Tyronepiad

O M PA N I E S a d a p t i n g sustainable technologies should put in place safeguards against cyber attacks due to their v ulnerabilit y to such threats, a cyber-security specialist said. Exclusive Networks Country Manager Pen Bumanglag, in an

interview with the BusinessMirror, said that cyber criminals—even disgruntled employees—can exploit the security gaps and weak links across the entire value chain. “Operationa l technolog ies, the computerized systems used to control industrial operations and critical infrastructure services that control ever ything f rom t he e lec t r ic it y g r id to

traffic light controls, often run on legacy equipment that have weak cyber security which prioritize efficiency over safety,” she explained. Bumanglag a lso noted the risks of greater use of electronic devices and Internet of things as such increase interconnectivity. This expands the attack surface available to cyber criminals, she pointed out.

T he c yber-sec u r it y e x per t said this means that a “ hack of the grid or a compromised device that interacts with it, including consumer technologies such as smart meters and electric vehicles, could cause sig n i f ic a nt d a m age to m a ny other systems and companies downstream.” See “Green tech,” A2

n US 50.2030 n japan 0.4563 n UK 69.1346 n HK 6.4629 n CHINA 7.7490 n singapore 37.0174 n australia 37.1251 n EU 59.2897 n SAUDI arabia 13.3853

Source: BSP (19 July 2021)

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Pinoys traveled mostly for leisure trips in ’20; many were workers By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

VER 1.48 million Filipinos left the country in 2020, most of them for holiday and leisure purposes. According to data presented by Department of Tourism’s (DOT) OIC-Director for Tourism Development Planning, Research and Research Management Warner Andrada in an online presser on Monday, of the total outbound travelers, foreigners were 1,754. Citing the Bureau of Immigration’s arrival/departure cards, some 24 percent left on holiday and leisure purposes, and 10.56 percent left for health/medical reasons. Of the total outbound travelers, there was an almost equivalent number of males and females at 49.23 percent and 50.42 percent of total, respectively. Less than 1 percent did not state their sex. Most of those who departed last year

Layoffs. . .

Continued from A1

Services sector

Meanwhile, the LTS data showed among the three economic sectors, only services recorded an employment gain at 1.9 percent during the third quarter of 2020. The main contributors to this gain were human health and social work

Outbound travel expenditures

Millennials also accounted for the largest number of outbound travelers in 2020, at 31.14 percent (ages 25-34), followed by those aged between 35 and 44 years at 28.53 percent, and Gen-X’ers (45-54) at 16.92 percent. Millennials are those born between 1991 and 1996, while those belonging to GenerationX were born between 1965 and 1980. No comparative data for outbound

travelers in 2019 were provided by the DOT. Despite the ongoing Covid-19 pandemic, a number of Filipinos have been traveling abroad this year, mainly to the United States, according to Ritchie Tuaño, chairman and general manager of Asiareps Travel Services Inc., “The interest in outbound travel actually is more to visit friends and relatives. There was also a brief spike of those vaccination trips to the US.” Tuaño, former president of the Philippine Travel Agencies Association, also said those who left “have existing US visas.” According to the latest information from the US Embassy in the Philippines, “All airline passengers traveling to the United States ages two years and older must provide a negative Covid-19 viral test taken within three calendar days of travel. Alternatively, travelers to the United States may provide documentation from a licensed health-care provider of having recovered from Covid-19 in the 90 days preceding travel.”

activities at 10.3 percent; information and communication, 7.7 percent; administrative and support services activities, 5.2 percent; and transportation and storage industries, 1.3 percent. Meanwhile, a decline of 0.2 percent was also recorded in the said sector during the fourth quarter, of which the arts, entertainment and recreation industry was greatly affected, with an employment loss of 5.9 percent. The data also showed that in the third quarter of 2020, agriculture, forestry,

and fishing neither gained nor lost as accession equaled separation rates. PSA said, however, that there was an 8.3-percent contraction in employment reduction in the last quarter of the reference year. The data also showed that the industry sector posted contractions in the second half of 2020—at 6.1 percent in the third quarter and 0.7 percent in the fourth quarter. Specifically, for both quarters, PSA said construction posted employment

losses of 15.5 percent and 2.1 percent, respectively. The LTS aims to come up with timely information on labor market trends in the formal sector of the economy. The items of inquir y have been limited to employ ment, labor turnover, and existing job vacancies. This information provides the government and the private sector a complete picture of labor demand and job turnover as inputs to decision-making and policy formulation. Cai U. Ordinario

were seafarers (16.3 percent of total) and laborers (11.47 percent)—almost 28 percent—while professionals accounted for 23.21 percent. Andrada told the BusinessMirror, however, he could not conclude that these seafarers and laborers were leaving for jobs abroad on tourist visas, even if most of the outbound travelers go on trips largely for leisure. “It may or may not be but our data comes only from the departure cards and there is no entry on the type of visa,” he explained.

Pinoys going to the US for vaxx

Separately, outbound tourism expenditures, as reflected in the Balance of Payments travel imports data of the Bangko Sentral ng Pilipinas, amounted to some $4.6 billion (P230 billion) in 2020, a massive 62-percent plunge from $12.04 billion (P602 billion) in 2019. In the first quarter of 2021, outbound travel expenditures likewise slipped by 60 percent to $884.96 million (P44.25 billion) from $2.21 billion (P110.5 billion) in the same period last year, as international travel restrictions remain in place due to the Covid-19 concerns. Travel imports covers purchases of goods and ser v ices by Filipinos abroad for their ow n use during v isits of less than one year for business or personal pur poses. These include e x pend it u res on accom mod at ions, meals, and transport w ithin the v isited destination. The data include not just travel expenses by vacationers, but also overseas Filipino workers.

Green tech. . .

Continued from A1

Citing a global report, she said that more than half of organizations surveyed dealt with ransomware attacks, or data extortion attempts for financial compensation, amid the pandemic. Such cases have been scaling and cyber criminals are even targeting high-value organizations, she added. Companies can protect themselves from such cyberthreats through investments in advanced cyber-security systems that use artificial intelligence and machine learning, she said. “Security Orchestration, Automation and Response [SOAR] tools help organizations predict, monitor and contain attacks, allowing timely responses that reduce the number of successful attempts and limit the impact of breaches,” Bumanglag noted. Apart from this, the country manager said that companies should craft a set of cyber-security standards aimed at equipping employees with knowledge on risk management in case of data breach. Bumanglag said the policies may include risk assessments, regular backing up of data and simulation exercises to prepare the employees. She stressed that companies should also launch training programs on the matter for the employees. “They are the first line of defense for companies in any cyber-security measure, and it would be critical that they observe and implement basic cyber hygiene,” Bumanglag said. “This includes not reusing passwords across multiple sites and changing them regularly, and not opening every e-mail and attachment that they receive.” Sustainable or green technology fosters economic and social development without compromising natural resources, Bumanglag said. It includes technologies for clean energy production, recycling robots, electric vehicles, financial technology and artificial intelligence. “The Covid-19 outbreak has brought many sustainability issues including carbon emissions, health care and poverty to the fore. It has shown us the need to build resilience to withstand future shocks from climate change and create a more sustainable society,” she said.

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ADB. . .

Continued from A1

In its Asian Development Outlook Supplement released on Tuesday, ADB said growth is expected to average 4.5 percent in 2021 and 5.5 percent in 2022, the same estimates made in April 2021. The Manila-based multilateral development bank also said inflation is expected to average 4.1 percent this year and 3.5 percent next year. This is the same projection it made last April. “Sustained government spending on infrastructure and social assistance programs is supporting recovery, as did a gradual pickup in household spending aided by strong remittances. Private investment remained sluggish, but indicators such as PMI, industrial production, and imports improved gradually,” ADB said. “ The government’s vaccination effort has accelerated to over 250,000 jabs daily, improv ing the prospects that community protection in metropolitan Manila could be achieved by year end,” it added. Inflation expectations were maintained for the Philippines, ADB said, given the government’s recent move to reduce tariffs on rice and meat imports. ADB said the government’s measures, which are seen to allow more pork imports under low-tariff minimum access volume terms, will stem price increases of these commodities in the coming months.

’21 regional forecast cut Meanwhile, amid rising cases, the ADB cut its economic growth forecast for developing Asia this year to 7.2 percent from the 7.3 percent it estimated in April. However, ADB said the growth outlook for 2022 was

Pogo. . .

revised upward to 5.4 percent from the 5.3 percent forecast made last April. “Asia and the Pacific’s recovery from the Covid-19 pandemic continues, although the path remains precarious amid renewed outbreaks, new virus variants, and an uneven vaccine rollout,” said ADB Chief Economist Yasuyuki Sawada. “On top of containment and vaccination measures, phased and strategic rejuvenation of economic activities—for instance, trade, manufacturing, and tourism—will be key to ensure that the recovery is green, inclusive, and resilient,” he added.

Downward outlook for SEA Southeast Asia’s 2021 outlook was also revised downward to 4 from 4.4 percent on the back of renewed outbreaks that are met with containment measures and restrictions. ADB said the Covid-19 pandemic remains the biggest risk to the outlook, as outbreaks continue in many economies. Daily confirmed cases in the region peaked at about 434,000 in mid-May. They narrowed to about 109,000 at the end of June, concentrated mainly in South Asia, Southeast Asia, and the Pacific. Meanwhile, the vaccine rollout in the region is gaining pace, with 41.6 doses administered per 100 people by the end of June—above the global average of 39.2, but below rates of 97.6 in the United States and 81.8 in the European Union. The supplement to the ADB’s flagship economic publication, Asian Development Outlook (ADO) 2021, provides updated projections for the region’s economies and inflation levels amid the Covid-19 pandemic.

Continued from A1

“This is consistent with international practice and would not be as burdensome as the 5-percent tax on gross turnovers as proposed in Bayanihan 2. This is also consistent with the House’s position on taxing offsite betting activities [House Bill No. 8065, approved by the House on December 15, 2020, (which) uses gross receipts or commissions, the equivalent of GGR, as its tax base],” Salceda said. The bills also impose a final tax of 25 percent of gross annual income on nonresident alien employees, remitted annually to the BIR, with presumptive minimum tax base of P600,000 gross annual income. The Senate version slightly differs in style, imposing a minimum monthly tax of P12,500, which would have the same revenue consequence. The Senate version specifies that nongaming income is to be taxed at 25 percent of taxable income, akin to regular corporations.

Service providers As for service providers, the bill imposes a regular corporate income tax, all applicable local and national taxes. “The argument that service providers are akin to businessprocess outsourcing [BPO] activities and are thus entitled to export incentives is laid to rest as the law defines OGLs as considered to be doing business in the Philippines,” Salceda explained. Both bills strengthen tax enforcement by ensuring that all aliens employed in OGLs, regardless of residency status, under whatever work permit they may be employed with, are covered by the taxes. Salceda added that both bills allow licensees to withhold the taxes of their alien employees. Both bills also mandate the Bureau of Internal Revenue, the Bureau of Immigration, and the Department of Labor and Employment (DOLE) to jointly implement a system where they can exchange information among each other to ensure proper collection of taxes. The versions also clarify that economic zones and the Philippine Amusement and Gaming Corp. (Pagcor) can collect regulatory fees from the OGLs, provided that such fees shall not exceed 2 percent of GGR, or a minimum guaranteed fee, whichever is higher. “This addresses the concern that a fiscal regime directly under the national government will drain Pagcor and the economic zones where OGLs are located, of a revenue stream,” Salceda said.

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Editor: Vittorio V. Vitug • Wednesday, July 21, 2021 A3

2 Covid-stricken vessels barred entry from Bicol port By Rene Acosta @reneacostaBM

HE Philippine Coast Guard (PCG) rushed on Tuesday to isolate two Philippine-registered vessels—a tugboat and a barge—that came from Indonesia after it was confirmed that 12 of the crewmen on board both vessels tested positive for Covid-19. The towing vessel MT Clyde and barge Claudia berthed a kilometer away from the Lidong Port in the town of Sto. Domingo, Albay at around 7:20 a.m. on Tuesday and were immediately put under strict security and monitoring by PCG personnel. “The Philippine Coast Guard has deployed a security team in order to ensure that no crew members could leave and disembark from the vessels and no watercraft could get near them,” PCG said in a news statement issued on Tuesday, adding steps are being taken to prevent the possible spread of the virus. PCG spokesman Commodore A r m a nd B a l i lo s a id t he M T Clyde and its towed barge Claudia, which was carrying 8,000 metric tons of steam coal, also docked in Butuan City, Agusan

de Norte prior to his voyage to Albay. Twenty crewmen, including the captain, Francisco Vargas, originally manned both vessels. The two vessels and its crew came from Indonesia, where there has been a reported spike in Covid-19 cases due to the more contagious delta variant, and docked in Butuan City, even as the government had earlier banned the entry into the country of travelers from Indonesia. According to Balilo, while Covid tests were administered to the crewmen, it was only found out that 12 of the vessels’ crews were positive for the virus after they have already left the port and the vessels were already en route to Albay. One of the crewmembers, however, disembarked in Butuan City, right after it was found out that he was found positive of the virus. The situation aboard the towing vessel and the barge alarmed the PCG and health officials, which put the two vessels and its voyage toward Albay under strict monitoring. On Sunday, Vargas, the master of two vessels, informed PCG personnel in Albay that they were already in the waters of Western Samar, adding that the 19 crew members

PHILIPPINE Coast Guard personnel keep a close watch on tugboat MT Clyde and barge Claudia, which both came from Indonesia and briefly docked at the Butuan Port, after most of the crewmen of both vessels tested positive for the virus. PHOTO COURTESY OF PCG

are all physically safe and sound, including himself. “A total of 12 of his crew members are confirmed positive for Covid-19, but they are all asymptomatic and in good health condition. However one of his crewmembers, also positive for Covid-19,” Balilo said. “Towing vessel, MT Clyde and barge Claudia arrived at the Port of Butuan in Butuan City, Agusan del Norte from Indonesia on 14 July 2021 at around 12:30 p.m. and left the next day at around 7:00 p.m.,” Balilo added. He said that while the vessels were at the Butuan port, the crewmen underwent RT-PCR tests for Covid-19, but “unfortunately, while the vessels were already at sea en route to Albay, they were informed that 12 of them are positive for Covid-19.” Balilo said a medical officer was among the PCG security and monitoring team securing the two vessels and the crewmen to provide medical assistance should it be needed by the men on board. The PCG and the Office of Civil Defense—Region 5 based in Legaspi City, Albay, were meeting to discuss emergency measures and assistance to the vessels and its crewmen.

A4 Wednesday, July 21, 2021 • Editor: Vittorio V. Vitug

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Rice imports drop to 1.26 MMT in H1–data

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s rice imports sustained its downward trend in the first half after it declined by 11 percent to 1.26 million metric tons (MMT) from 1.417 MMT recorded last year, latest Bureau of Plant Industry (BPI) data showed.

BPI data obtained and analyzed by the BusinessMirror showed that the volume of rice imports

during the six-month period was 157,000 MT lower than the previous year’s volume.

The country’s rice imports this year have been lower than last year due to a confluence of events that included higher world rice prices, global logistical problems, and better domestic harvest. The United Nations’ Food and Agriculture Organization (FAO) noted that rice trade in Asian markets “remained quiet” in June as “logistical bottlenecks and high shipping costs continued to discourage fresh sales.” In terms of sanitary and phytosanitary import clearance (SPSIC) issuance, the BPI issued 2,553 SPS-ICs from January to June,

which was about 35 percent lower than the 3,926 SPS-ICs issued in the same period of last year. BPI data also showed that the total applied volume for rice imports by eligible entities was 18.89 percent lower this year on an annual basis. Based on the SPS-ICs issued, eligible rice imports applied to import 2.645 MMT from January to June, which was 616,000 MT lower than what they wanted to bring in in the same period of last year at 3.621 MMT. BPI data showed that in June alone, the agency issued 784 SPS-

ICs corresponding to an applied import volume of 707,742 MT, which was 384.63 percent higher than the 146,083.8 MT (177 SPS-ICs) applied import volume in the same month of last year. Based on the BPI list, Elite Impex Distributor Inc. led all 121 eligible rice importers in terms of applied volume to import at 167,680 MT, followed by Anvit Hridhaan Trading Inc. at 128,738 MT. In terms of actual rice import arrival, Nan Stu Agri Traders topped the list at 61,402 MT followed by Davao Solar Best Corp. at 55,936

MT, BPI data showed. BPI data also showed that the country’s total rice imports as of July 2 has reached 1.27 MMT, with 88.66 percent, or about 1.126 MMT of which coming from Vietnam. Rice imports from Pakistan reached 2,638 MT while those from India reached 109.36 MT, based on BPI data. These two South Asian countries, particularly India, are projected to benefit from the lowering of the country’s most favored nation (MFN) rates on rice imports from 40 percent (in-quota) and 50 percent (out-quota) to 35 percent.

DAR distributes land titles to farmers, fresh graduates in Magalang, Pampanga Toll board issues clarification By Jonathan L. Mayuga @jonlmayuga

HE Department of Agrarian Reform (DAR) on Tuesday announced the distribution of 174.2-hectare portion of the Pampanga State Agricultural University (PSAU) to 281 farmers, including fresh college graduates of agriculture-related courses. DAR Secretary John R. Castriciones led the distribution of the certificates of land awards (CLOAs) on July 19, 2021 to agrarian reform beneficiaries during simple rites in Magalang, Pampanga. Among those who received the land titles, 82-year-old Rosario P. Dacquil of Barangay San Vi-

cente, Magalang town. The 174 hectares agricultural land is part of the idle government-owned lands under PSAU. President Duterte for signed into law Executive Order (EO) 75, Series of 2019, February 1, 2019, paving the way for DAR to facilitate the processing of idle and abandoned government owned lands that can be covered under the Comprehensive Agrarian Reform Program (CARP). “If you are a beneficiary of EO 75, it’s free, you don’t have to pay even a single centavo, all you need is to make the land productive. Please do not intend to abandon or sell the land,” Castriciones said in the same statement.

The said property was distributed to 207 identified agrarian reform beneficiaries and 74 qualified agriculture graduates or a total of 281 beneficiaries. The DAR chief expressed confidence that agriculture graduates could help improve the agricultural lands given to each of them, since they can apply the theories, practices and modern farming technology they have learned from their schooling. Castriciones added that the knowledge that they have acquired might be passed on to more farmers that will eventually benefit the country’s economy and ensure food security. Aside from the free lands, the

identified beneficiaries can avail themselves of other support services extended by the DAR and other government agencies, including the provision of loans, training, farm machinery and implements. Regional Director Atty. Maria Celestina M. Tam said the PSAU propert y is covered by TCT 045-2016003517 and 0452015007300, with an aggregate area of 508.8534 hectares. The property was covered under EO 75, of which 174.2361 hectares was initially segregated and is the subject of recently held CLOA distribution distributed to the beneficiaries, the remaining area she said are still for revalidation.

on PUV use of Skyway Stage 3

HE Toll Regulatory Board (TRB) clarified on Tuesday that the exclusive use of Skyway Stage 3 for Class 1 vehicles is a “temporary safety measure pending construction.” TRB Executive Director Alvin Carullo also explained that the government did not issue any policy that bars public-utility vehicles (PUVs), such as buses and trucks, from using tollways. He cited, for instance, the availability of toll roads North Luzon Expressway (Nlex) and South Luzon Expressway (Slex) for PUVs. “The ‘Class 1 vehicles only’ is a temporary traffic scheme

which will only be implemented until such time that the Skyway Southbound Ramp Extension is completed. The Temporary Steel Ramp located at the Alabang Viaduct is steep and narrow thus it may impose safety hazard to other motorists if a Class 2 vehicle will be allowed to use the same at this time,” Carullo said. He explained that while Skyway was built to handle Class 3 vehicles, a possible “driver error” makes it risky for such vehicles. He said in 2011, a bus fell off a Skyway section in 2011, which resulted in “stricter implementation of traffic rules.” Lorenz S. Marasigan

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Wednesday, July 21, 2021

SM Foundation: Championing the art of spreading social good

KSK farmer from Calasiao, Pangasinan

Jane Rose Sison (middle), one of the 200 new SM scholars for SY 2020-2021, together with her parents and siblings

SM school building in Tanza, Cavite

ORPORATE social responsibility (CSR) means that companies are recognizing the role that they play in the social, economic and environmental challenges that it’s host country or community is facing. That enterprises need to take into account and ensure that their operation and business activities will have a positive impact in the society. As one strives for profit and do well - a business can also aim to do good. A responsible corporate citizen will not only strive on being excellent in their enterprise but will also do good towards their employees, partners and specially in communities where they operate. Started during the 1960s, CSR in the Philippines started from philanthropic efforts wherein companies donate cash directly to foundations and other charitable

organizations - which are usual one time “dole outs” to communities in need. Eventually, companies saw the need to do strategic interventions to provide sustainable solutions especially in areas where they operate - enabling them to look at CSR not only as an ad on activity but as an integral part of how they do business. This perspective resulted to the establishment of various CSR departments or corporate foundations that enabled companies to answer the call for doing business sustainably. The same goes with one of the country’s largest

conglomerate, the SM group. Through its Corporate Social Responsibility arm, SM Foundation (SMFI), SM has focused its resources, time, and reach to create opportunities for the company’s host communities nationwide through its social good programs geared towards some of the most important concerns in the country such as quality education, sustainable agriculture, healthcare, and disaster response. Established in 1983 by Henry Sy, Sr. and Felicidad T. Sy, the couple believed in empowering communities and that self-sufficiency is the answer to a more effective and inclusive growth. That through targeted investments in education, healthcare, and sustainable agriculture, SM provides opportunities to create a cycle of social good in the communities where it is present.

The #SocialGood Pillars

Through its education pillar – segmented via its Scholarship and School Building programs, SMFI intends to provide the youth with access to quality

Lung Center of the Philippines frontliners inspect the mobile x-ray donation from SM

tertiary and vocational education that can allow them to uplift the economic status of their families and provide the underserved communities with school buildings that have key facilities and equipment. To date, they have produced more than 9,000 college and tech-voc scholar graduates and were able to build and refurbish more than 270 school buildings. Their Kabalikat Sa Kabuhayan (KSK) on Sustainable Agriculture, on the other hand, was launched in 2007 to bring modern and sustainable farming skills in both rural and urban communities -providing farmers and their families with food security and agribased economic opportunities. As of 2020, they have trained more than 28,000 farmers on sustainable agri-tech coming from grassroot communities nationwide. Through SMFI’s Operation Tulong Express (OPTE), the CSR arm was able to provide timely relief to disasterstricken communities especially in areas where SM

operates. So far, SMFI was able to aid almost 640,000 families in areas struck by calamities and disasters. Their Health and Wellness program successfully established more than 270 health and wellness centers nationwide. And to complement its health facilities, they have conducted more than 1,500 medical missions providing health care for 1.2 million patients in grassroot communities nationwide.

Spreading social good amidst the pandemic

During the pandemic, SMFI was able to aid 230 hospitals and institutions through their COVID-19 response program - where SM, through SMFI, was able to distribute over 90,500 PPE and safety gear to frontliners - in addition to the Php 105bn worth of medical equipment composed of ventilators and X-ray machines. They also distributed 20,000 PCR test kits and 48,050 RNA test kits to strengthen the COVID-19 testing in the country. And to

help the government address the need for more appropriate accommodations to house and treat patients affected by COVID-19, SMFI together with SM EDD constructed six (6) Emergency Quarantine Facilities (EQF) in Metro Manila. And to provide immediate relief and assistance, SM, through SM Foundation’s Operation Tulong Express (OPTE) program, was able to distribute more than 85,400 Kalinga packs in grassroots communities nationwide— which include transport groups and families greatly affected by the lockdown. Through SM Foundation’s Social Good Programs, SM hopes to be a meaningful development partner in its host communities - not only through business investments but through relevant community programs that will impact the community and will lead the country towards sustainable development. To know more about the social good programs and stories of SMFI, follow SM Foundation on Facebook, Instagram, Twitter and YouTube @SMFoundationInc.

SM, through its Operation Tulong Express program, distributed Kalinga packs to families affected by the pandemic, including various transport groups nationwide

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PBGEA outlines ‘threats’ to PHL banana industry By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippines is not just losing market share in key banana markets to Latin American producers but investments as well, which could threaten the domestic output of the world’s second top producer of the prized yellow fruit, an industry group said. Pilipino Banana Growers and Exporters Association (PBGEA) said the value of the country’s banana exports this year should be at a “very similar” level from last year’s $1.644-billion level since there is no “new big expansion” in the domestic banana industry. “For this year, it should be very similar to last year. There are no new big expansions occurring in the industry,” PBGEA Chairman Alberto F. Bacani said at a virtual news briefing on Tuesday.

“Sad to say a lot of multinationals prefer to expand in Ecuador or other Latin American countries rather than investing in the Philippines because of the perceived risks of Panama disease especially,” Bacani added. Bacani noted that Panama disease-resistant banana varieties are “good solution” but they are not “100-percent resistant” to it. “Competing as the number two [cavendish banana exporter in the world], it is really important that this industry is protected and its survival is proliferated. The jobs and the livelihoods of about 1.4 million individuals are dependent on this industry,” he added. The country’s banana export receipt last year declined by 15.8 percent to $1.644 billion from $1.953 billion in 2019 due to lower shipments caused by “poor production” as a result of the rapid spread of

Panama disease worsened by logistical bottlenecks such as movement restrictions against Covid-19. The Philippines’s banana exports last year declined by 13.51 percent to a two-year low of 3.808 million metric tons from the record-high 4.403 MMT recorded in 2019, Philippine Statistics Authority (PSA) data showed. Despite the decline in both volume and value of banana exports, the Philippines was able to keep its spot as the world’s second top exporter of the yellow fruit, based on international trade data. (Related story: https://businessmirror. com.ph/2021/07/01/phl-keepsslot-as-worlds-2nd-top-bananaexporter-in-2020/) In May, the BusinessMirror broke the story that the Philippines is losing market share for the prized yellow fruit in key Asian markets to neighboring countries

like Vietnam and Cambodia, as well as Latin American producers. Trade map data of the multilateral International Trade Centre analyzed by the BusinessMirror showed that the Philippines’s market share for bananas in China, Japan, and South Korea has been shrinking in recent years, as domestic exporters have warned. (Related story: https://businessmirror. com.ph/2021/05/04/phl-bananas-losing-out-in-asia-to-latinamerica-asean-producers/) Value wise, the Philippines is losing millions of dollars due to its shrinking market share in its three key Asian markets. In China alone, the Philippines lost $149.253 million last year due to contraction in exports while Cambodia and Vietnam tallied a combined additional export revenue of $144.973 million, trade map data showed.

The Philippines lost $31.248 million worth of export revenues in South Korea last year while Colombia and Vietnam earned an additional $20.086 million and $702,000, respectively. The PBGEA has repeatedly stated that the Philippines’s stronghold in South Korea’s banana market is threatened by recent free trade agreements signed by Seoul allowing entry of bananas from countries like Central America at lower tariff rates. Furthermore, PBGEA recently warned that China has started to buy from neighboring countries like Vietnam, Cambodia and Laos, resulting in Filipinos losing export contracts in the East Asian country. The situation abroad worsened internal problems faced by the banana industry, particularly the continuous contraction in domestic output due to diseases such as Fusarium Wilt or Panama disease.

DOH reports Davao City readies hospitals for renewed infection surge 8 ‘active’ new variant cases It’s the same virus except that it By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

HERE are at least eight active cases of Covid delta variant currently in the country after the detected cases were “immediately re-assessed,” the Department of Health said on Tuesday. At a media forum on Tuesday, Health Undersecretary Maria Rosario Vergeire, however said, when they looked at the cases closely, they have high clyde threshold (CT) value. CT value emerges in RT-PCR tests for the Covid-19, and determines whether a person is positive or not. “Ibig sabihin mababa ang viral load at most likely hindi na sila infectious [Meaning they have low viral load, and most likely they are no longer infectious], but they are in quarantine now,” Vergeire said. In the case of Manila, the specimen of one of the contacts who tested positive but was no longer submitted for genome sequencing for the CT value did not go below 20. Mayor Francisco “Isko Moreno” Domagoso said that the threshold is 20, according to the city health office. Vergeire said that eight of the active cases came from: Manila (1), Cagayan de Oro (5), Misamis Oriental (1), and two returning Filipinos from overseas (RFOs). She added that the contact tracing and back tracing are being done already for the 16 cases of delta variant reported earlier. At present, 91 contacts have been traced. Of these, eight are from the National Capital Region, 10 from Region 6, 27 from Region 10, and 46 contacts traced from returning overseas Filipinos (RFOs). Following this development, the DOH official said that home quarantine is not being encouraged. “We encourage facility-based quarantine,” she said noting the threat of delta variant. When asked where the delta variant may have come from, she said. “Ang assumption namin [Our assumption] it really came from abroad. As to the exact origin, that’s what we’re trying to find out right now.” Claudeth Mocon-Ciriaco

AVAO CITY—City Mayor Sara Duterte-Carpio assuaged the public that hospitals here are on preparation mode for any eventuality for another surge of infection of the delta, or Indian variant of the Covid-19 virus. She said the public could make a big contribution by complying with, at least, the minimum health protocol to weather away the threat, whose current monitoring nearest the city is in Cagayan de Oro City in northern Mindanao. The city though, was still grappling with an ongoing surge, the second this year, the first in early this year, when cases reached more than 200 cases daily, which eventually was brought down to less than 20 cases by April. A month later, cases shot up anew, averaging to about 400 cases in the last two weeks. The lone hospital dedicated to receiving Covid-19 patients, the government-run Southern Philippines Medical Center, has been teetering on almost full capacity, and at one point early this year, the city has asked some private hospitals to open up for Covid-19 admission. Mayor Sara has designated the SPMC as the sole Covid-19 receiving hospital and has asked private hospitals not to accept any Covid-19 cases and to refer them only to the SPMC. She said this was intended to refrain infecting the private sector with the virus and to have the city a standby health force for any eventuality, including a surge in cases.

Aside from the SPMC, the city has a current inventory of 2,433 isolation rooms and scattered around the city, which were formerly private inns and motels, barangay and city government buildings. In allowing the return of overseas Filipinos workers (OFWs), the city has also persuaded hotels to open up as holding and isolation facilities for them. The mayor said there were 1,078 hotel rooms prepared for these purpose. “We are preparing the hospitals in case of a surge by this delta variant,” she said in her regular public affairs portion of the city government-run dcDR radio on Monday. In asking the public for a more dedicated observance of the health protocols, even as she warned that the delta variant is not an ordinary Covid-19 variant ravaged India, and currently the wreaking havoc in the country’s neighbors, Indonesia, Malaysia and Thailand. She said there is even a possibility that the variant may have already reached the city. However, Mayor Sara said such could only be confirmed until such time a through genome sequencing could be undertaken. “It’s the same virus except that it is more contagious than the other variants. The least that we can do is to continue wearing masks, washing of hands and distancing. These are our contribution to ensuring that our hospitals would not be swarmed with cases,” she said. The regular bus route would remain between Cagayan de Oro City and Davao City. Alex Roldan, director of the regional Department of the Interior and Local Government, told

Davao City Mayor Sara Duterte the BusinessMirror that he has directed the police for heightened guard at the highway borders. Despite the current strict border monitoring, the city would still open its airport to special flights, such as the repatriation of migrant workers. The first flight to be flown in here was on July 15, with 134 OFWs from Dhaka, Bangladesh. Another batch of 359 was accepted here on July 18. Generose Tecson, officer-incharge of the Davao City Tourism Operations Office said on Monday health and safety protocols were “strictly enforced.” “PR8659 from Dubai, United Arab Emirates landed at 9 a.m. on Sunday, July 18 at the Davao International Airport [DIA]. Passengers were required to be swabbed 48 hours before the flight and present negative RT-PCR results in accordance to the City Ordinance 047721, Series of 2021 or the Mandatory Testing Prior to Entry into the Davao City via the Davao International Airport,” she said. As required by the Inter-Agency Task Force for the Management

of Emerging Infectious Diseases (IATF-EID), the OFWs and returning overseas Filipinos would undergo a 14-day quarantine here in Davao City before proceeding to their final destinations. “We do a 14-day quarantine. They are swabbed on the seventh day after their arrival,” Tecson said. She said the security personnel have been detailed on these hotel isolation facilities on a 24-hour watch, especially in the exit areas, to avoid cases of persons slipping away. In these hotel quarantine facilities, the OFWs would be housed in the upper floors. For instance, if the designated hotel has 10 floors, only the seventh to the 10th floor shall be occupied. The elevators would then be limited only to the floors below these designated isolation floors. The Overseas Workers Welfare Administration would shoulder the expenses of the OFWs while the national government would cover the swab. Returning overseas Filipinos would pay their own quarantine services and their swab test.

By Tyrone Jasper C. Piad @TyronePiad

HE Anti-Red Tape Authority (Arta) seeks to establish a small working group aimed at improving the data-matching system among government agencies. In a news statement issued on Tuesday, Arta Director General Jeremiah Belgica said that the planned committee would be composed of the Philippine Statistics Authority (PSA), the National Privacy Commission and the Department of Information and Communications Technology. Belgica previously requested for a meeting with PSA officials regarding a potential shared online platform for data on birth, death and marriage, among others, accessible by relevant government agencies. He explained this is in line with the streamlining initiative of the government in order to facilitate quicker transactions by data sharing among government agencies. “Importante talagang mapag-usapan natin, lalo na sa final stage ng termino ng ating Pangulo, lalo niya pong pinapabilisin sa atin ang pinapagawa. [It is really important to tackle this, especially during the President’s final stage in his term, to further accelerate government processes],” he added. Citing an official of PSA Civil Register Maintenance and Development Division, Arta noted that PSA has existing agreements with other agencies and data-matching scheme where concerned parties may refer to needed records. As for Privacy Commissioner Raymund Liboro, Arta said he recommended the drafting of data-sharing agreement and model contract laws. These will cover the liabilities and responsibilities of agencies sharing the data and will allow single sign-on of data from the public. The Arta chief also proposed data sharing from the information gathered through the National ID System. “Having a single repository of these confidential info or personal info about you will hasten e-security,” he added. Recently, Belgica reiterated his call for the Zero Backlog Program to the government agencies, referring to the processing of documents. The said initiative is mandated by law under Section 1, Rule VI of the Implementing Rules and Regulations of Republic Act 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

Archdiocese of Manila eyes dispatch of community ‘mission centers’ By Samuel P. Medenilla @sam_medenilla

HE Archdiocese of Manila is planning to bring the Church closer to urban communities by establishing “mission centers” amid the Covid-19 pandemic. In an interview with the Churchrun Radyo Veritas, Manila Arch-

bishop Jose Cardinal Advincula explained the mission centers should serve as smaller units of the Church, catering to the spiritual needs of communities. He explained he plans to assign and tap the creativity of priests to the said centers and make the teachings of the Church relatable to their assigned communities.

Higher IRA, better tax collection push up LGU’s income 12%. . . continued from a12

Broken down, local business tax comprised almost half of the locally sourced revenues at P119.31 billion. The remaining amount comprised real property tax collections (P70.55 billion), fees and charges (P33.33 billion) and receipts from economic enterprise (P21 billion). Of the locally sourced revenues, cities collected 70 percent of the amount or P171.90 billion; followed by municipalities and

is more contagious than the other variants. The least that we can do is to continue wearing masks, washing of hands and distancing. These are our contribution to ensuring that our hospitals would not be swarmed with cases.

Arta pushes creation of data-sharing committee

provinces, with P44.72 billion (18 percent) and P27.57 billion (11 percent), respectively. As in previous years, the National Capital Region collected the highest locally sourced revenues at P101.94 billion or 42 percent of the total, Alvina said. This was followed by Region 4A (Cavite-Laguna-Batangas-RizalQuezon or Calabarzon) and Region 3 (Central Luzon), with P37.52 bil-

lion (15 percent) and P22.35 billion (9 percent), respectively. As the Covid-19 pandemic took its toll on the economy, the BLGF earlier said it has set an initial local revenue collection target for this year of P223.9 billion, 30 percent lower than the original medium-term program of P321.6 billion. The BLGF said the assessments of most local taxes this year were based on fiscal year 2020.

The cardinal’s plan is also intended to give the priests, including the younger ones, the chance to manage their own ministry. Advincula noted he received reports that a priest should be at least 40 years old before he could manage a parish. During his term as head of the Archdiocese of Capiz, Advincula said

he implemented a similar program and deployed priests, who are still in their early 30s, to mission stations in the mountains. “The life in the mountains is very hard, but they enjoyed and were creative in forming their ministries,” Advincula said. He said he hopes to replicate the same program in the Archdiocese

of Manila. Advincula said he is now undertaking an inventory of the priests in the Archdiocese of Manila for the possible implementation of the said program. There are currently 350 priests assigned to the 89 parishes, which have over 3 million parishioners, in the Archdiocese of Manila.

FDC: Covid loans may spur debt crisis; wealth tax needed. . . continued from a12 Recession

IN a full-day National Conference dubbed “State of the People’s Address: Kumperensiya para sa Pagbangon ng Ekonomiya at ng Bayan [#Bangon]” at UP Diliman, FDC President Rene Ofreneo emphasized that Duterte is ending his term at a time when the economy is in recession. “During this time when unemployment is increasing, currently pegged at 8.7 percent, and Covid infections continue to spread with almost 1.4 million getting sick, a responsive recovery program from the grassroots is much needed,” Ofreneo said in the

event organized a week before President Duterte delivers his last State of the Nation Address (Sona). Instead, a People’s Stimulus must be implemented where jobs are created, direct income support for affected individuals and households are given, and the budget for health doubled to re-build and strengthen the public health-care system, particularly communitybased primary health care. FDC also suggested re-directing public spending away from large infrastructure projects in urban centers toward badly-needed social infra-

structure; and, transforming energy systems for cheaper, cleaner and more sustainable energy and to create jobs. FDC advocates building a People’s Economy in order to address current inequalities and ensure the sustainability of the economy. It has identified four major pillars: the Transformation of the Existing Economy into a People-First Economy; de-carbonizing the economy through a just transition; unleashing the nation’s productive capacity towards a “People-Public Partnership;” and building grassroots-based, women-led solidarity networks.

BusinessMirror

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

18.

Mr. JIANDONG SUN Chinese

Mandarin Customer Relations Officer Php20,000.00Assist sales team in business acquisitions, Php50,000.00/month planning, retention and management.

19.

Mr. ZHONGYI WANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

20.

Mr. XIANG LI Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

21.

Mr. YEBEN HUANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

22.

Mr. YONGJIE TAN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

23.

Mr. ZHAOCAI CHEN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

24.

Mr. CHAOLUMEN AO Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

25.

Mr. CHUANGHAO ZHAO Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

26.

Mr. GUANGHUI LYU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

27.

Mr. HAITAO ZHAO Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

28.

Mr. HAN YUAN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

29.

Mr. JIANZHONG YOU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

30.

Mr. LEI ZHOU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

31.

Mr. XUPENG WEN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

32.

Mr. HAOFENG HE Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

33.

Mr. CHUNYU ZHAN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

34.

Mr. JIANSONG JIANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

35.

Mr. KAIWU MAO Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

36.

Ms. PEIQIONG LIN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

37.

Mr. QIAO PING Chinese

Mandarin Language Specialist Ensure outstanding customer satisfaction by maintaining strong working relationships.

Php20,000.00Php50,000.00/month

38.

Mr. QINGGUI YAN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

39.

Mr. XING CHEN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

40.

Ms. XINTIAN WANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

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41.

Mr. YISHUN WANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

42.

Mr. ZHIFEN LIN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

43.

Mr. ZHILONG SUN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

44.

Mr. XIONGBO WU Chinese

Mandarin Language Specialist Ensure outstanding customer satisfaction by maintaining strong working relationships.

Php20,000.00Php50,000.00/month

July 21, 2021

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

Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s. Name and Address of Employer: RICH HARVEST VALLEY PHILIPPINES INC. Brgy. Sabang, Naic, Cavite Name and Citizenship of Foreign National

Mr. CHENGHUI WU Chinese

Position and Job Description Technical Consultant Oversee the function and maintenance of the machinery and equipment in the factory.

Salary Range

Php60,000.00Php100,000.00/month

Name and Address of Employer: RELIANCE PRODUCERS COOPERATIVE (RPC) GMBP, Maduya, Carmona, Cavite Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Ms. FENG-CHU WU Taiwanese

Technical Consultant – Sewing Review, understand and interpret buyer technical instructions and specifications as it relates to over-all fit and appearance that the customer wants per style.

USD9,600.00USD10,000.00/annum

Mr. NAISHUN SONG Chinese

Technical Consultant- Cutting Review and study fabrication, pattern and fit requirements of incoming orders.

USD9,600.00USD10,000.00/annum

Ms. DONGMEI SHEN Chinese

Technical Consultant – Sewing Review, understand and interpret buyer technical instructions and specifications as it relates to over-all fit and appearance that the customer wants per style.

USD9,600.00USD10,000.00/annum

Name and Address of Employer: GLOBAL MEDICAL BAGS MANUFACTURING COMPANY, INC. Marilag Subd.,Zone 4, Dasmariñas City, Cavite

Name and Citizenship of Foreign National

Position and Job Description

Mr. GARRY ADOLPHUS BINGHAM Jamaican

Chairman Chair and oversee the performance of the board, ensure its effectiveness in all aspects of its role and set a board agenda, which is primarily focused on strategy, performance, value creation and accountability.

Salary Range

Php20,000.00Php50,000.00/month

Name and Address of Employer: YUMEX PHILIPPINES CORPORATION FCIE, Brgy. Langkaan 1, Dasmariñas City, Cavite Name and Citizenship of Foreign National

Mr. KOJI SUZUKI Japanese

Position and Job Description

Salary Range

Division Manager Plan and organize production schedules.

Php1,100,000.00Php1,500,000.00/ annum

Name and Address of Employer: BRICKHARTZ TECHNOLOGY INC. Lot 4044 Molino Blvd. Niog III, Bacoor, Cavite

Wednesday, July 21, 2021 A7

Name and Citizenship of Foreign National

Position and Job Description

Mr. SHAOBO LIU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. ZIJUN LI Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. ZHIJIAN YANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. SHUNQING WANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. PAN XI Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Ms. JIEMIN JI Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. HUANBIAO DONG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. GUANGWEI LIU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. FUYANG ZHANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Name and Address of Employer: PHILIPPINE MATSUZAKA ELECTRIC MFG. INC. Laguna Technopark-SEZ, Biñan City, Laguna

10.

Mr. CHENDING LIU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

11.

Mr. YAMING YAO Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. YASUHIKO FURUKAWA Japanese

Php500,000.00Php1,000,000.00/ annum

12.

Mr. YIJU LIU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

General Manager Oversee daily operations of the business unit or organization

Php20,000.00Php50,000.00/month

13.

Mr. ZHICHENG LIU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

14.

Ms. JING HE Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

15.

Mr. JIYONG ZOU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

16.

Mr. WEISHENG SU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

17.

Mr. ZHAO LIU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Salary Range

Name and Address of Employer: EDS MANUFACTURING, INC. Anabu II, Imus, Cavite

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. HIROYUKI WATANABE Japanese

Assistant Manager Provide top management with accurate, timely and relevant comprehensive financial data.

Php560,000.00Php600,000.00/annum

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 the DOLE Regional Office within 30 days from the date of publication. Please inform the DOLE Regional Office if you have an information of any 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

Wednesday, July 21, 2021

The World BusinessMirror

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

Massive Microsoft Exchange hack Virus surge fears, UK leader’s caused by China, US and allies say quarantine, mar ‘Freedom Day’ W

ONDON—Corks popped, beats boomed out and giddy revelers rushed onto dance floors when England’s nightclubs reopened Monday as the country lifted most remaining coronavirus restrictions after more than a year of lockdowns, mask mandates and other pandemic-related curbs on freedom. For clubbers and nightclub owners, the moment lived up to its media-given moniker, “Freedom Day.” But the big step out of lockdown was met with nervousness by many Britons and concern from scientists, who say the UK is entering uncharted waters by opening up when confirmed cases are not falling but soaring. A s of Mond ay, face mask s were no longer lega lly required in Engl a nd, work-f rom-home g u id a nce ended a nd, w it h so c i a l d ist a nc ing r u les shelved, no l im its e x isted on t he nu mber of people attending theater per for ma nces or big events. Nightclubs were allowed to open for the first time in almost 18 months, and from London to Liverpool, thousands of people danced the night away at “Freedom Day” parties starting at midnight. “I’m absolutely ecstatic,” clubgoer Lorna Feeney said at Bar Fibre in the northern England city of Leeds. “That’s my life, my soul—I love dancing.” At The Piano Works in London, patrons packed the area around the cordoned-off dance floor on Sunday as a host led a countdown to midnight. Once a ceremonial ribbon was cut, the crowd ran toward the dance floor as confetti canons went off and a disco ball spun above. Soon, unmasked clubgoers dancing to a live band’s rendition of Whitney Houston’s “I Wanna Dance With Somebody” filled the floor. But while entertainment businesses and ravers are jubilant, many others are deeply worried about scrapping restrictions at a time when Covid-19 cases are on a rapid upswing because of the highly infectious Delta variant first identified in India. Cases topped 50,000 per day last week for the first time since January. Deaths remain far lower than in the winter thanks to vaccines, but have risen from less than 10 a day in June to about 40 a day in the past week.

Prime Minister Boris Johnson, who has dialed down talk of freedom in recent weeks, urged the public to “proceed cautiously” and “recognize that this pandemic is far from over.” Or, as Deputy Chief Medical Officer Jonathan Van-Tam put it at a televised news conference: “Don’t tear the pants out of this.” In a reminder of how volatile the situation is, the prime minister was spending “Freedom Day” in quarantine. Johnson and Treasury chief Rishi Sunak are both self-isolating for 10 days after contact with Health Secretary Sajid Javid, who has tested positive for Covid-19. Johnson initially said he would take daily tests instead of self-isolating—an option not offered to most people—but U-turned amid public outrage. The prime minister is among hundreds of thousands of Britons who have been told to quarantine because they have been near someone who tested positive. The situation is causing staff shortages for businesses including restaurants, car manufacturers and public transport. Globally, the World Health Organization says cases and deaths are climbing after a period of decline, spurred by the Delta variant. Like the UK, Israel and the Netherlands both opened up widely after vaccinating most of their people, but had to reimpose some restrictions after new infection surges. The Dutch prime minister admitted that lifting restrictions too early “was a mistake.” In the US, many areas abandoned face coverings when the Centers for Disease Control and Prevention said fully vaccinated people didn’t need to wear them in most settings. Some states and cities are now trying to decide what to do as cases rise again. British officials have repeatedly expressed confidence that the UK’s vaccine rollout— 68.5 percent of adults, or more than half the total population, has

People drink on the dance floor shortly after the reopening, at The Piano Works in Farringdon, London on July 19. Thousands of young people plan to dance the night away at ‘Freedom Day’ parties after midnight Sunday, when almost all coronavirus restrictions in England are to be scrapped. Nightclubs, which have been shuttered since March 2020, can finally reopen. AP/Alberto Pezzali

received two doses—will keep the threat to public health at bay. But 1,200 scientists from around the world backed a letter to British medical journal The Lancet criticizing the Conservative government’s decision. “I can’t think of any realistic good scenario to come out of this strategy, I’m afraid,” said Julian Tang, a clinical virologist at the University of Leicester. “I think it’s really a degree of how bad it’s going to be.” Tang said nightclubs in particular are potent spreading grounds, because they increase close physical contact among a core customer base—people 18 to 25—that hasn’t yet been fully vaccinated. “ That’s the perfect mixing vessel for the virus to spread and to even generate new variants,” he said. The government wants nightclubs and other crowded venues to check whether customers have been vaccinated, have a negative test result or have recovered from the disease. “I don’t want to have to close nightclubs again, as they have elsewhere, but it does mean nightclubs need to do the socially responsible thing,” Johnson said. There is no legal requirement for them to do so, however, and most say they won’t. Michael Kill, chief executive of the Night Time Industries Association, said many owners accuse the government of “passing the buck” to businesses. “Either mandate it or don’t mandate it,” Kill said. “This is putting an inordinate amount of pressure on us.” Soon they may have no choice. Johnson said that from the end of September, full vaccination will become a condition of entry to nightclubs and other venues with big crowds. He said by that time, everyone 18 and over will have

had the chance to get both doses of a vaccine. Johnson’s decision to scrap the legal requirement for face masks in indoor public spaces—while recommending people keep them on—has also sowed confusion. Some retailers said they would encourage customers to keep their masks on, and London Mayor Sadiq Khan said they remain mandatory on the capital’s subways and buses— though police can no longer be called in to enforce the rule. Khan said Monday that more than 90 percent of passengers appeared to be wearing masks, “and what I think that shows is that people are carrying on their great habits.” The end of restrictions in England is a critical moment in Britain’s handling of the pandemic, which has killed more than 128,000 people nationwide, the highest death toll in Europe after Russia. Other parts of the UK— Scotland, Wales and Northern Ireland—are taking slightly more cautious steps out of lockdown and keeping mask requirements for now. Psychologist Robert West, who sits on a science panel that advises the government, said telling people to be careful without giving them thorough knowledge of risks was “like putting someone out on the road without having taught them to drive.” At London’s Egg nightclub, clubber Alex Clark acknowledged feeling “a bit of apprehension and uncertainty.” Fellow clubgoer Kevin Ally felt no such qualms. “ T here’s zero concer n,” he said. “The only concern is why we haven’t been here for a year and a half. It’s been a very long time since we’ve been out. “It’s good to be back, and we’re here to dance.” AP

Apple delays office return as Covid infections surge

pple Inc. is pushing back its return to office deadline by at least a month to October at the earliest, responding to a resurgence of Covid variants across many countries, people familiar with the matter said. The iPhone maker becomes one of the first US tech giants to delay plans for a return to normality as Covid-19 persists around the world and cases involving a highly transmissible variant increase. Apple will give its employees at least a month’s warning before mandating a return to offices, the people said, asking not to be identified discussing internal policy. Chief Executive Officer Tim Cook said in June that employees should begin returning to offices in early September for at least three days a

week. In an internal memo, Cook cited the availability of vaccinations and declining infection rates. Some employees of the Cupertino, California-based technology giant have worked from Apple offices on certain days throughout the Covid-19 pandemic. Yet even with half the US vaccinated, Covid-19 continues to kill people faster than guns, car crashes and influenza combined, according to a Bloomberg review of mortality data. After 10 weeks of global declines in Covid deaths, the highly transmissible Delta variant is driving a new uptick. In the US, health officials have warned that a similar reversal may be underway: Daily cases have doubled from a low point last month, and hospitalizations are rising again.

Corporations across the globe are grappling with how to adjust to shifting work demands in the post-Covid era. Apple’s decision comes as its own employees criticized the September deadline as too early. Even before Covid, the company had grappled with a potential loss of talent as workers—despite being relatively high earners— complain they can barely afford the extraordinary cost of living in the San Francisco Bay Area. Just a few years after completing the multibillion-dollar Apple Park headquarters in Cupertino, California, Apple is now ramping up efforts to decentralize out of Silicon Valley. In the tech industry, many workers have come to view re-

mote work as a coveted perk. Several Silicon Valley companies have been bringing workers back to the office only slowly. Facebook Inc. has said it will drastically expand the number of employees who can work remotely even after the pandemic—although their salaries may be adjusted based on their location. And Alphabet Inc.’s Google recently introduced a more permissive return-to-work policy that allows for staff to work from different locations or entirely from home. Separately, Apple is said to be testing a hybrid in-store and workfrom-home arrangement for retail employees, acknowledging that consumers may continue to prefer online shopping even as the pandemic eases. Bloomberg News

ASHINGTON—The Biden administration and Western allies formally blamed China on Monday for a massive hack of Microsoft Exchange e-mail server software and asserted that criminal hackers associated with the Chinese government have carried out ransomware and other illicit cyber operations. The announcements, though not accompanied by sanctions against the Chinese government, were intended as a forceful condemnation of activities a senior Biden administration official described as part of a “pattern of irresponsible behavior in cyberspace.” They highlighted the ongoing threat from Chinese hackers even as the administration remains consumed with trying to curb ransomware attacks from Russia-based syndicates that have targeted critical infrastructure. The broad range of cyber threats from Beijing disclosed on Monday included a ransomware attack from governmentaffiliated hackers that targeted victims—including in the US— with demands for millions of dollars. US officials also alleged that criminal contract hackers associated with China’s Ministry of State Security have engaged in cyber extortion schemes and theft for their own profit. Meanwhile, the Justice Department on Monday announced charges against four Chinese nationals who prosecutors said were working with the MSS in a hacking campaign that targeted dozens of computer systems, including companies, universities and government entities. The defendants are accused of targeting trade secrets and confidential business information, including scientific technologies and infectious-disease research. Unlike in April, when public finger pointing of Russian hacking was paired with a raft of sanctions against Moscow, the Biden administration did not announce any actions against Beijing. Nonetheless, a senior administration official who briefed reporters said that the US has confronted senior Chinese officials and that the White House regards the multi-nation shaming as sending an important message, even if no single action can change behavior. President Joe Biden told reporters “the investigation’s not finished,” and White House press secretary Jen Psaki did not rule out future consequences for China, saying, “This is not the conclusion of our efforts as it relates to cyber activities with China or Russia.” Even without fresh sanctions, Monday’s actions are likely to exacerbate tensions with China at a delicate time. Just last week, the US issued separate stark warnings against transactions with entities that operate in China’s western Xinjiang region, where China is accused of repressing Uyghur Muslims and other minorities. The administration also advised American firms of the deteriorating investment and commercial environment in Hong Kong, where China has been cracking down on democratic freedoms it had pledged to respect in the former British colony. The European Union and Britain were among the allies who called out China. The EU said malicious cyber activities with “significant effects” that targeted government institutions, political organizations and key industries in the bloc’s 27 member states could be linked to Chinese hacking groups. The U.K.’s National Cyber Security Centre said the groups targeted maritime industries and naval defense contractors in the US and Europe and the Finnish parliament. In a statement, EU foreign policy chief Josep Borrell said the hacking was “conducted from the territory of China for the purpose of intellectual property theft and espionage.” The Microsoft Exchange cyberattack “by Chinese state-backed groups was a reckless but familiar pattern of behavior,” U.K. Foreign Secretary Dominic Raab said. NATO, in its first public condemnation of China for hacking activities, called on Beijing to uphold its international commitments and obligations “and to act responsibly in the international system, including in cyberspace.” The alliance said it was determined to “actively deter, defend against and counter the full spectrum of cyber threats.” That hackers affiliated with the Ministry of State Security were engaged in ransomware was surprising and concerning to the US government, the senior administration official said. But the attack, in which an unidentified American company received a high-dollar ransom demand, also gave US officials new insight into what the official said was “the kind of aggressive behavior that we’re seeing coming out of China.” A spokesman for the Chinese Embassy in Washington, Liu Pengyu, said in a statement that the “US has repeatedly made groundless attacks and malicious smear against China on cybersecurity. Now this is just another old trick, with nothing new in it.” The statement called China “a severe victim of the US cyber theft, eavesdropping and surveillance.” The majority of the most damaging and high profile recent ransomware attacks have involved Russian criminal gangs. Though the US has sometimes seen connections between Russian intelligence agencies and individual hackers, the use of criminal contract hackers by the Chinese government “to conduct unsanctioned cyber operations globally is distinct,” the official said. Dmitri Alperovitch, the former chief technology officer of the cybersecurity firm Crowdstrike, said the announcement makes clear that MSS contractors who for years have worked for the government and conducted operations on its behalf have over time decided— either with the approval or the “blind eye of their bosses”—to “start moonlighting and engaging in other activities that could put money in their pockets.” The Microsoft Exchange hack that months ago compromised tens of thousands of computers around the world was swiftly attributed to Chinese cyber spies by Microsoft. An administration official said the government’s attribution to hackers affiliated with the Ministry of State Security took until now in part because of the discovery of the ransomware and for-profit hacking operations and because the administration wanted to pair the announcement with guidance for businesses about tactics that the Chinese have been using. Given the scope of the attack, Alperovitch said it was “puzzling” that the US did not impose sanctions. “They certainly deserve it, and at this point, it’s becoming a glaring standout that we have not,” he said. He added, in a reference to a large Russian cyber espionage operation discovered late last year, “There’s no question that the Exchange hacks have been more reckless, more dangerous and more disruptive than anything the Russians have done in SolarWinds. AP

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Australia’s Victoria extends virus lockdown, shuts border to Sydney

ustralia’s Victoria state extended its fifth lockdown since the pandemic began and tightened border restrictions with Sydney as authorities battle to contain an outbreak of the Delta variant. Stay-at-home orders will remain in place for another seven days until midnight July 27 after Victoria recorded 13 new locallyacquired cases for a second straight day, state Premier Daniel Andrews told reporters on Tuesday. The state will effectively shut its border to people from Sydney, with exceptions for essential workers such as freight drivers and for compassionate reasons, he said. Authorities hoped to re-open earlier, but there’s a risk that unlinked cases could increase, as some cases detected overnight were infectious in the community, Andrews told reporters. “There are chains of transmission that are not yet contained,” he said. The state’s shuttering for a second week comes as authorities in south-eastern Australia battle outbreaks of the highly infectious Delta variant that spread from an unvaccinated chauffeur who was infected while transporting airline crew last month. Authorities have issued stay-athome orders for almost half of the nation’s population, hampering

the country’s economic recovery after Australia slid into its first recession in about three decades last year. New South Wales state recorded 78 new locally-transmitted coronavirus cases in the 24 hours through 8 p.m. Monday, as its capital city Sydney remains in lockdown for a fourth week to halt the Delta spread, state Premier Gladys Berejiklian said Tuesday. While the majority of new cases are located in the city’s southwest, about one third of new cases weren’t isolated for a period before being detected despite being told to stay at home, she said. Meantime, South Australia state will enter a weeklong statewide lockdown later Tuesday in a bid to halt an outbreak seeded from a returned traveler. Australia’s slow vaccine rollout—one of the slowest among the 38 OECD nations—has made the country particularly vulnerable to the Delta variant, which has increasingly leaked out of the quarantine system for overseas arrivals. While economies such as the UK and US are opening up, Australia’s international borders remain largely closed, and fairly small clusters make even domestic travel difficult as states and territories pull up the drawbridge. Bloomberg News

Leftist Castillo faces divided nation as next Peru president

eru’s Pedro Castillo, a rural union activist from a Marxist party, will take the reins of a deeply divided country after being declared president-elect following weeks of vote recounts, lawsuits and fraud allegations. The results, proclaimed Monday night by Peruvian electoral authorities, will help to dispel the political uncertainty that has gripped the Andean nation since the June 6 runoff. He’ll take office on July 28. Castillo, who was virtually unknown six months ago, defeated by a narrow margin right-wing candidate Keiko Fujimori, a leader of the country’s most powerful political clan. After alleging fraud and demanding the annulment of many votes, Fujimori said earlier on Monday she would accept authorities’ decision even as she called her opponent’s proclamation “illegitimate.” Speaking right after the decision, Castillo thanked the Peruvian people and called for national unity, sending a special message to his main political adversary. “I call on Ms. Fujimori to not put up more barriers on this path, let’s not have more obstacles to move this country forward,” he told a crowd of supporters from a balcony in a downtown Lima building. He quickly received congratulations from Mexican President Andres Manuel Lopez Obrador and from the secretary general of the Organization of American States, Luis Almagro. A teacher from the highlands with no previous experience of national politics, Castillo, 51, ran on the slogan “No more poor people in a rich country,” meaning that the nation’s vast mineral wealth must benefit ordinary people. He swept the rural and Andean regions of the country, while Fujimori won the capital Lima and coastal cities in the north. He says his focus will be on education and health, making him the face of Latin America’s resurgent left and a symbol of growing disenchantment with elites following the ravages of the pandemic.

Investor fears

C astillo’s election initially spooked investors, but the nation’s

bonds and currency rallied after he appointed mainstream economists as advisers, and pledged to respect the central bank’s autonomy. Castillo’s chief economic adviser, Pedro Francke, has called for fiscal prudence and inflationtargeting, and is opposed to nationalization of companies. But Marxists from Castillo’s Peru Libre party will try to get him to pursue a more radical course. Castillo won by a narrow margin of 50.1 percent to 49.9 percent, and Fujimori’s party alleged irregularities and tried to cancel votes deemed as fraudulent. The US and the E.U. said the election was clean. Castillo’s ability to govern is likely to be hampered by his limited support within Congress, which is dominated by the center-right. He will face not only opposition but also the very real threat of impeachment, which was used to oust former President Martin Vizcarra. The election result, nonetheless, represents one of the most meteoric political journeys in recent history. Castillo rose from being a little-known union organizer just months ago to lead a country of 32 million struggling through one of the worst periods in its history. Peru has suffered the world’s highest death rate from Covid as well as a deeper economic slump than all the other major economies in the Americas. The nation has also seen exceptional political volatility, with three presidents in little more than a week last year.

Voter disgust

His promises to raise corporate taxes, rein in big companies and pump 20 percent of economic output into social welfare struck a chord with the rural poor. But those same policies, and his membership of a Marxist political party, worried investors, who’d been used to Peru being one of the continent’s fastest growing and most reliable economies, even amid bouts of political turmoil. During the campaign, Castillo criss-crossed the country wearing a broad straw-hat, riding a horse to the polls and dancing with supporters. On April 11, he beat out 17 other candidates to win the firstround election. Bloomberg News

Wednesday, July 21, 2021

Thailand’s capital tightens restrictions to fight Covid

ANGKOK—Officials in Thailand further tightened coronavirus restrictions on Monday in response to an alarming rise in cases and deaths that is stressing the country’s health-care system.

City officials in Bangkok, the capital, ordered a range of establishments to close completely from Tuesday for two weeks or until further notice. They include museums, cinemas, amusement parks, fitness centers and swimming pools. Beauty parlors and barber shops may operate but must limit the numbers of customers, and public parks can stay open until 8 p.m. Restaurants have already been limited to takeout service since June 28. Violations of the city’s regulations are punishable by up to a year’s imprisonment and a fine of up to 100,000 baht ($3,040). Bangkok and ot her prov inces t hat have been t he most se verely a f fected by t he c u r rent v i r u s s u rge, wh ic h i nc ludes

ones neighbor ing t he capit a l a nd t hree in t he fa r sout h, a lready ba n gat her ings of more t ha n f ive people, requ ire residents to rema in at home f rom 9 p.m. to 4 a.m., a nd forbid u nnecessa r y t ravel. Other provinces can set their own rules. Health authorities on Monday announced 11,784 new cases of Covid-19, bringing the confirmed total to 415,170 since the pandemic began last year. There were 81 new deaths, raising the total to 3,422. More than 90 percent of the cases and deaths have occurred during the wave of the virus that began in April. The sharp rise in cases has caused a severe shortage of hospital beds for Covid-19 patients, prompting the authorities to al-

A health worker administers a dose of the AstraZeneca Covid-19 vaccine at the Central Vaccination Center in Bangkok, Thailand on July 15. As many Asian countries battle against a new surge of coronavirus infections, for many their first, the slow-flow of vaccine doses from around the world is finally picking up speed, giving hope that low inoculation rates can increase rapidly and help blunt the effect of the rapidly-spreading Delta variant. AP/Sakchai Lalit

low patients to isolate at home and in community centers, and giving them access to antigen test kits that were previously limited to the medical community. The situation has been exacerbated by a shortage of vaccines that has resulted in only about 5 percent of the population being fully inoculated. The Civil Aviation Authority

of Thailand has ordered a halt to all domestic flights operating from the most severely affected provinces effective Wednesday. Exceptions are allowed for flights to destinations that are part of a plan that allows vaccinated travelers from abroad to stay for two weeks on popular islands such as Phuket and Samui without quarantine confinement. AP

US hails Taiwan move to open first Europe office with its name

aiwan will set up its first office in Europe using the name “ Taiwan,” a move immediately hailed by the US as a way for the island democracy to strengthen its diplomatic presence around the globe in the face of pressure from China. The government in Taipei will open its office in the Baltic nation of Lithuania, Taiwan’s Foreign Minister Joseph Wu said at a briefing on Tuesday. Taiwan’s other diplomatic outposts on the continent are under the name of “Taipei.” “Lithuania has firmly believed in universal values such as democracy, freedom and human rights, and is a like-minded partner of Taiwan,” Wu said. “Taiwan and Lithuania are both at the strategic front line to safeguard democratic and free regimes.” Lithuania has supported the island ’s attempt to participate in the World Health Organization’s annual policy-setting summit at the World Health Assembly, Wu said, an issue that became a geopolitical controversy between major powers as the island successfully fought the Covid-19 pandemic. T he A mer ican Institute in

Bloomberg photo

Taiwan, the de facto US embassy, issued a statement supporting the move by President Tsai Ing-wen’s government. “A l l c o u n t r i e s s h o u l d b e free to pursue closer ties and greater cooperation with Taiwan, a lead ing democrac y, a major economy, and a force for good in the world,” the American Institute in Taiwan said in a statement. “ The US remains committed to supporting Taiwa n in a ma nner consistent with the US “one China” policy as Taiwan strengthens its inter national partnerships and

works to address global challenges, including Covid-19, investment screening, and supply chain resilience.”

Growing criticism

The US’s closer ties with Taiwan in recent years have been a growing source of tension with China, which claims the islands and has threatened to use force to seize them if necessary. The strained relationship has been impacting Taiwan’s ability to procure vaccines even after Tsai’s government successfully kept the virus at bay since the pandemic began.

The development is also a setback to Beijing, which has wooed Europe’s eastern bloc members for years in an attempt to divide the European Union. China has been facing growing criticism from mainly Western countries over issues ranging from its handling of information on Covid-19 to its crackdown on Muslim Uyghurs in Xinjiang and democracy activists in Hong Kong. Earlier this month, Chinese President Xi Jinping spoke with France’s Emmanuel Macron and Germany’s Angela Merkel in a bid to repair ties. That was followed by a meeting between Foreign Minister Wang Yi and the EU’s High Representative for Foreign Affairs and Security Policy Josep Borrell in Tashkent. Over the last couple of years, Beijing has also slowly squeezed Taipei’s few remaining diplomatic allies, particularly smaller island states in the south Pacific, Latin America and the Caribbean. Last summer, Taiwan set up a similar representative office to the one it’s opening in Lithuania in the territory of the unrecognized government of Somaliland in a bid to bolster its dwindling number of allies. Bloomberg News

US warns against traveling to Britain and Indonesia

A S H I N G T O N —T h e United States has upgraded its travel warnings for Britain, Indonesia and three other destinations, advising Americans not to travel there due to a surge in coronavirus cases. The CDC and the State Department issued revised advice to US travelers Monday alerting them to the increased risk of contracting Covid-19 in Britain, Indonesia, Zimbabwe, Fiji and the British Virgin Islands. Previously, all had been covered by a less severe advisory to “reconsider travel.” The advisories are recommendations that are constantly under review and are not binding,

although they may affect group tours and insurance rates. The warning for Britain, for example, has fluctuated between Level 3, or “reconsider travel,” and Level 4, or “do not travel,” several times this year already. Meanwhile, Mississippi’s top public health official says the state is seeing a rapid increase in coronavirus infections. Dr. Thomas Dobbs tweets that the “4th wave is here.” The Mississippi State Department of Health said Monday that 2,326 new cases were confirmed Friday through Sunday. That is largest three-day increase reported in the state since February.

Mississippi has one of the lowest coronavirus vaccination rates in the nation. State Rep. Jeramey Anderson of Moss Point posted the Health Department numbers Monday on Twitter and lashed out at people who haven’t been vaccinated. In the legislator’s words: “Consequences of not getting vaccinated and poor mask wearing. Well Mississippi — you wanted it here it is. This is ridiculous and the deaths that will definitely follow were completely avoidable.”

Canada accepts vaccinated US citizens

TORONTO—Canada announced

Monday it will begin letting fully vaccinated US citizens into Canada on August 9, and those from the rest of the world on September 7. Canadian officials said the 14-day quarantine requirement will be waived as of Aug. 9 for eligible travelers who are currently residing in the United States and have received a full course of a Covid-19 vaccine approved for use in Canada. Public Safety Minister Bill Blair said a date for the US to allow fully vaccinated Canadians to cross the land border isn’t yet known. Any Canadian can currently fly to the US. AP

A10 Wednesday, July 21, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Saving the world’s marine resources

hen the World Trade Organization (WTO) negotiations on fisheries subsidies were launched in 2001 at the Doha Ministerial Conference, agriculture accounted for nearly 20 percent of Philippine gross domestic product, according to data from the Philippine Statistics Authority (PSA). Of the country’s population of 76.5 million at that time, about 40 percent depended on agriculture for their livelihood. The country augmented its food supply by importing staple food items including rice, pork and chicken. Two decades after the launch of the talks, the Philippines continues to rely on imports to plug the gap in the production of staple food items. Drought, La Niña and stronger typhoons are making it more difficult for producers to increase food output and feed a growing population. Further exacerbating the country’s food supply woes caused by climate change is illegal, unreported and unregulated (IUU) fishing, which has been tagged as one of the major factors behind the depletion of the country’s fish stocks. According to an article published by the World Economic Forum (WEF), subsidies given to the global fishing industry enable commercial fishers to expand their capacities and significantly increase their catch. Maria Damanaki, a member of Friends of Ocean Action, noted that subsidies paid to the global fishing industry amount to $35 billion per year, of which more than 60 percent meets the WTO definition of harmful subsidies. Citing the European Parliament’s Committee on Fisheries, Damanaki said $20 billion is given in forms that enhance the capacity of large fishing fleets, such as fuel subsidies and tax exemption programs. The provision of these subsidies has allowed large industrial fleets to venture into other parts of the world and threaten the livelihood of small-scale artisanal fishers (See, “Illegally caught fish estimated to be worth $1.3 billion,” in the BusinessMirror, March 11, 2021). Illegal fishing in the Philippines accounted for 27 percent to 40 percent of fish caught in 2019, which translates to approximately P62 billion or $1.3 billion annually, according to a study conducted by the United States Agency for International Development and the Bureau of Fisheries and Aquatic Resources. The study showed that at least 30,000 or 30 percent of municipal vessels remain unregistered, and commercial fishers do not report up to 422,000 metric tons of fish each year. The statistics show the vast impact of IUU fishing on the country’s marine ecosystem. The elimination of these subsidies that encourage IUU is one of the primary concerns of the Philippines in the crafting of new WTO rules on fisheries (See, “PHL wants to hasten WTO talks on fishing rules,” in the BusinessMirror, July 19, 2021). Sustainable Development Goals (SDG) Target 14.6 call for the prohibition of certain forms of fisheries subsidies which contribute to overcapacity and overfishing; the elimination of subsidies that contribute to IUU fishing; and call on parties to refrain from introducing new such subsidies, recognizing that appropriate and effective special and differential treatment for developing and least developed countries should be an integral part of the WTO fisheries subsidies negotiation. WTO members, particularly those that adopted the SDGs of the United Nations, should keep this in mind as they hammer out a new agreement that will prevent the depletion of the world’s marine resources, which could threaten the food security of many countries, including rich nations.

The SSS Mobile App version 4.0 Aurora C. Ignacio

All About Social Security

ast June 30, 2021, my colleagues at the Social Security System and I conducted a virtual press conference to discuss the new look and feel of the SSS Mobile App—the latest development in our digital transformation journey.

Aside from having a redesigned user interface that makes it easier for members and employers to navigate, the app also allows members and employers to access information on enrolled disbursement accounts, and provides direct links to official SSS social-media accounts. It also features an improved branch locator, and provides users access to their activity history, including links to various SSS information campaigns. SSS Mobile App 4.0 can now be downloaded through the Google Play Store and Huawei AppGallery. The SSS Mobile App has indeed come a long way since it was launched in 2018. In addition to the services I have previously men-

tioned, other transactions that can be made digitally through the app include applying for an SS Number; updating of contact information; getting notifications for salary loan and maternity benefit applications; viewing of membership information, contributions, salary loan status and balance, benefit info, documentary requirements, Payment Reference Number (PRN) list; inquiring about SSS branches address with map, generating PRN, and online payments using PayMaya, credit/debit card, or Bank of the Philippine Islands (BPI) accounts. Employers’ services available through the mobile app also include amending contact infor-

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are adapting as well. The enhanced mobile app is a step in providing efficient and effective government service—even without face-to-face transactions. We will continue to march forward towards digitalization. The call now for our members, pensioners, covered employers, as well as the public is to familiarize themselves with these online services so that they can easily transact business with us. Information about the SSS and its services are available on Facebook and YouTube at “Philippine Social Security System,” Instagram at “mysssph,” and Twitter at “PHLSSS.” We also have a Viber Community at “MYSSSPH Updates.” Lastly, I would like to remind our members, pensioners, and employers to always keep their SSS Mobile App and My.SSS Portal account username and password secure and confidential to avoid unauthorized access and to protect their personal information. Have a great week ahead! Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Seafarer’s hazardous life on board car carriers

Since 2005

✝ Ambassador Antonio L. Cabangon Chua

mation, as well as viewing of contribution and loan payments, and benefit reimbursement for sickness and maternity claims of employees. As of April 2021, the app has been downloaded 8.19 million times in the Google Play Store, 5.33 million times in the Huawei AppGallery, and 1.05 million times in the iOS App Store. As a result, the SSS Mobile App was cited as the second most downloaded free app in the productivity category on Google Play Store. At the same time, it ranks fourth in the finance category on the Huawei AppGallery, and the utilities category on iOS App Store. In terms of usage, it has recorded an average of 85,000 daily transactions. As a result of the health and mobility limitations caused by the Covid-19 pandemic, the SSS Mobile App and our other SSS online service channels such as the My.SSS Portal were given a new purpose. From providing a more convenient and efficient means of transaction, now they also provide members and employers with a safer option to get in touch with SSS. As I have said during the press conference, while the entire world learns to live and cope with the new normal, institutions such as the SSS

Dennis Gorecho

Pinoy Marino Rights

hile consumers enjoy driving their cars, transporting automobiles as cargoes on board vessels can have a toll on a seafarer’s health.

Most seafarers live and work under extremely hazardous conditions that can cause serious shortterm and long-term damage to their health. In some cases, they are unknowingly exposed to conditions that can even be fatal. The seafarer’s constant exposure to hazards such as chemicals (like benzene) and the varying temperatures, coupled with stressful tasks in his employment may cause a plethora of illnesses. Benzene, a known carcinogen, is a colorless, sweet-smelling chemical that is commonly used in the manufacture of petroleum products such as gasoline, solvents, and crude oil. It is also mainly used as a starting component in making other chemicals and materials, including dyes, detergents, drugs, plastics, lubricants, nylon, rubbers, pesticides, resins, and synthetic fibers. Vessels that can have higher benzene exposure include petroleum oil or chemical tank ships; petroleum or chemical carriers; liquid cargo, flat/

deck and open hopper barges; and liquid bulk tankers. Benzene can cause a host of medical issues, including damage to reproductive organs and immune system, internal bleeding, aplastic anemia, myelodysplastic syndromes (MDS), acute myelogenous and cancer. In the case of Melchor Deocariza v. Fleet Mgt Services Phils. Inc. (GR 229955, July 23, 2018), the Supreme Court awarded total permanent disability benefits to a seafarer (Chief Officer) afflicted with Aplastic Anemia brought about by chronic exposure to benzene. To be considered as work-related, Aplastic Anemia should be contracted under the condition that there should be exposure to x-rays, ionizing particles of radium or other radioactive substances or other forms of radiant energy. The company-designated physician pointed out that “exposure to benzene and its compound derivatives may predispose to development

of such condition,” and that workrelatedness will depend on exposure to certain factors. The employers denied liability by arguing that the cause of Deocariza’s illness was not workrelated. They claimed that while the cars loaded in the vessel contained gasoline (which is said to have benzene elements), the cars’ engines were nonetheless always “OFF” during the voyage and turned “ON” only during the loading and unloading of the vehicles in the vessel. They added that seafarer could not have accumulated benzene elements in his body given that the vessel was equipped with many big exhaust fans that drive away the toxic fumes. The Supreme Court disregarded the employers’ argument by noting that the use of safety gears in the performance of the seafarer’s duties did not foreclose the possibility of his exposure to such harmful chemical, given that he was in fact diagnosed with Aplastic Anemia brought about by chronic exposure to benzene. As a general rule, the seafarers most affected by benzene are those who perform vessel maintenance and tank cleaning. But the Court noted that the claimant actively supervised as Chief Officer the loading and unloading operations of cars/motor vehicles in every voyage that constantly exposed him to an atmosphere of cargoes with nearly 6,000 cars in just one voyage alone.

Benzene, an important component of gasoline, is emitted from the engines of these cars in the course of their loading and unloading. The Chief Officer was constantly exposed to the hazards of benzene in the course of his employment. Studies show that since benzene is highly volatile and tends to evaporate quickly, exposure occurs mostly through inhalation without detection. The seafarer’s illness is work-related as the reasonable link between the nature of his work as Chief Officer and the illness contracted during his employment was sufficiently established by substantial evidence with no showing that he was notoriously negligent in the exercise of his functions. The Supreme Court has consistently ruled that it is not necessary that the nature of the employment be the sole and only reason for the illness suffered by the seafarer for illness to be compensable. It is sufficient that there is a reasonable linkage between the seafarer’s disease suffered and his work to lead a rational mind to conclude that his work may have contributed to the establishment or, at the very least, aggravation of any pre-existing condition he might have had. (Magsaysay Maritime Services v. Laurel, GR 195518, March 20, 2013). Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

www.businessmirror.com.ph

Opinion

Delta for Delta

Time to have a unified industry voice

BusinessMirror

Dr. Jesus Lim Arranza

Dr. Carl E. Balita

MAKE SENSE

Entrepreneurs’ Footprints

ecently, we were seeing rays of hope. After more than a year of the pandemic, there is a reason for us to hold on to at least cautious optimism—that the pandemic could be over soon. But experts want us to know that there is still a concern that new mutations of the virus could bring it back, and it might be even stronger. And the variant is labeled as Delta.

Delta is the fourth letter of the Greek alphabet. In the system of Greek numerals it has a value of 4. Scientists make use of this mathematical meaning of delta in various branches of science. In general physics, delta terms change and delta-v is simply a change in velocity. Uppercase delta (Δ) at most times means “change” or “the change” in mathematics. The expression “what’s the delta” and variations are commonly used in business to refer to the difference between two things, or the rate of change between two states, depending on the context. In geography, deltas are wetlands that form as rivers empty their water and sediment into another body of water. The Nile delta, created as it empties into the Mediterranean Sea, has a classic delta formation. In biometrics and fingerprint scanning, the delta point is a pattern of a fingerprint that resembles the Greek letter delta. The delta is that point on a ridge at or in front of and nearest the center of the divergence of the type lines in a fingerprint. Threatcon Delta in the military is a critical threat level. This condition applies in the immediate area where a terrorist attack has occurred or when intelligence has been received that terrorist action against a specific location or person is likely. Delta Force, officially known as 1st Special Forces Operational Detachment-Delta (1st SFOD-D), are the most highly trained elite forces in the US military. Delta Force is the special-mission unit for counterterrorism and hostage rescues. Created in the late 1970s, the Delta Force has been at the very tip of the US military spear for decades. Delta’s known and successful missions include finding Saddam Hussein and tracking down Abu Musab Al-Zarqawi. In the language of the pandemic, Delta is a variant of the coronavirus that created epicenters in India and Indonesia, and continuously posing a threat to the Philippines and the rest of the world. Is it a coincidence that this Delta variant is bringing about change in the way we are seeing the silver lining in this pandemic experience? It seems to be bringing our Covid situation to a critical threat level, which requires a special and new ways of fighting the unseen terrorist.

Understanding the Delta variant

The new naming conventions for the variants were established by the WHO at the beginning of June as an alternative to numerical names and the labelling of the strain from its country of first identification. The Alpha strain first appeared in Great Britain while the Beta first surfaced in South Africa. The Gamma strain was identified in Brazil and the Delta originally surfaced in India. To date, there is already an Epsilon variant first diagnosed in the US. Delta is the name for the B.1.617.2. variant, a SARS-CoV-2 mutation that originally surfaced in India. It was in December 2020 that the first Delta case was identified. The strain spread rapidly and soon become the dominant strain of the virus in both India and then Great Britain. By the end of June, the Centers for Disease Control and Prevention (CDC) estimated that the Delta had already made up more than 20 percent of cases in the US. The World Health Organization has called this version of the virus “the fastest and fittest.” In mid-June, the CDC labeled Delta as “a variant of concern.” Inci Yildimrim, MD, PhD, a Yale Medicine pediatric infectious diseases specialist and a vaccinologist, isn’t surprised by what’s happening. “All viruses evolve over time and undergo changes as they spread and rep-

licate,” she says. But one thing that is unique about Delta is how quickly it is spreading, says F. Perry Wilson, MD, a Yale Medicine epidemiologist. Around the world, he says, “Delta will certainly accelerate the pandemic.” Yale Medicine presents five things to know about the Delta variant. Delta is more contagious than the other virus strains. “It’s actually quite dramatic how the growth rate will change,” says Dr. Wilson. Delta is spreading 50 percent faster than Alpha, which was 50 percent more contagious than the original strain of SARS-CoV-2, he says. “In a completely unmitigated environment—where no one is vaccinated or wearing masks—it’s estimated that the average person infected with the original coronavirus strain will infect 2.5 other people,” Dr. Wilson says. “In the same environment, Delta would spread from one person to maybe 3.5 or 4 other people.” Unvaccinated people are at risk. This gives more reason for the reluctant members of the communities to reconsider getting the vaccine. Delta could lead to “hyperlocal outbreaks.” If Delta continues to move fast enough to accelerate the pandemic, Dr. Wilson says the biggest questions will be about transmissibility—how many people will get the Delta variant and how fast will it spread? There is still more to learn about Delta. Medicine is still figuring out if the Delta strain will make one sicker than the original virus. A study from Scotland showed the Delta variant was about twice as likely as Alpha to result in hospitalization in unvaccinated individuals, but other data has shown no significant difference. On the effect to the body, there have been reports of symptoms that are different than those associated with the original coronavirus strain where cough and loss of smell are less common. Headache, sore throat, runny nose, and fever are present based on the most recent surveys in the UK, where more than 90 percent of the cases are due to the Delta strain. Vaccination is the best protection against Delta. The most important thing you can do to protect yourself from Delta is to get fully vaccinated. But whether or not one is vaccinated, it’s also important to follow CDC prevention guidelines that are available for vaccinated and unvaccinated people.

DELTA for DELTA

Here are some suggestions on how to deal with the coronavirus, regardless of what Greek alphabet it is labelled: n Decide to get the vaccine. It remains as science’s best solution so far. n Engage in physical distancing and other health protocols like wearing of masks and staying outdoors and in well ventilated areas as much as possible. n Listen to reliable information and share validated ones to your family and friends. n Take immune boosting living style like proper nutrition, adequate hydration, sufficient sleep and rest and stress management. n Accept that we have to co-exist with the coronavirus that could reach Omega in its mutation. Like everything in life, we should deal with the coronavirus with caution and diligence as we live in the most normal way. In the light of the Delta variant reported to be in our midst, all we can hope for is a government that will be transparent and strategic in leading its people out of this ordeal, and for our people to realize that it is everyone’s responsibility to change, just like the symbolism of a Delta, towards the end of this pandemic.

S promised in my previous column “Protect the Consumers, Protect the Environment and Save the Economy,” I will discuss the harmful effects of the importation of used, obsolete and environmentally hazardous manufacturing equipment following concerns raised by RamCar Motolite Batteries President Mr. Jess Montemayor in one of the Board meetings of the Federation of Philippine Industries. As FPI Chairman, I totally agree with Montemayor’s industry observation.

The importation of used, environmentally unsafe and inefficient manufacturing equipment, like the banned induction furnaces of China, contributes to the proliferation of substandard steel products in the local market. Substandard steel used in construction poses many safety risks. They cause buildings to break down or collapse like what happened in Florida where 97 people died and scores more are missing after a high-rise condo collapsed. More than this, substandard steel products lessen the competitiveness of quality standard steel products, especially in a price-driven market like the Philippines. We saw what happened to the Philippine garments manufacturing

industry. Because it was outpaced in the race to modernize, it remained uncompetitive in the world market. The industry’s precarious situation was further aggravated by the rampant smuggling of used clothing (ukay-ukay). Brought into the country supposedly for the production and re-export of industrial rugs, these used clothing were diverted to the local market and sold cheaply by dubious traders/ importers that exploited the scheme for their smuggling activities. That should explain the continued proliferation of used clothing (ukayukay) in the country. In the case of the glass industry, the issuance of injunctions by the courts that prevented the govern-

Wednesday, July 21, 2021 A11

ment from imposing its mandatory standards for glass products resulted in the proliferation of substandard glass in the local market. This is certainly bad news because substandard glass products are unsafe to use. They expose consumers to higher risks on glass-related injury or even death. By allowing the entry into the country of used, obsolete and environmentally unsafe manufacturing equipment, the government is unwittingly helping other countries to modernize their industry. We buy junk from them, thus giving them the funds to upgrade their technology and manufacturing processes. Ultimately, the Philippines can’t compete in the global market because we are practically using hand-medown manufacturing equipment. As long as our regulations allow the importation of used, obsolete and environmentally unsafe manufacturing equipment, the Philippines will continue to be a dumping ground of other countries’ junk. This practice will keep us at the bottom of the global manufacturing pyramid. With the world economy now gearing up to recover from the ill effects of Covid-19, competition is expected to tighten even more in the world market. Therefore, now is the time for us in the industry sector, including the non-members of FPI, to unite and speak with one voice. If the nation’s battle cry in the fight against Covid-19 is “We Heal as One,” Philip-

pine industries must adopt “We Fight as One” as our rallying cry. It’s about time that all of us must fight for the local industry’s survival. Let us call for a thorough review of the country’s rules on the importation of used manufacturing equipment, if only to protect our local industry, consumers, and the environment. Remember the dictum in advertising, “It is easier to promote a new brand than to resuscitate an old and dying brand.” The same rule applies to our local industry today, as the nation is set to recover from the pandemic-triggered recession. “It is easier to revitalize an ailing industry than to revive a dead industry.” I urge the members of the business community—the big, medium and small enterprises—to join us in our fight to protect local industries. Let’s speak with one loud voice. This way, concerned authorities will have no choice but to listen and act on our cause. Let us not allow the Philippines to be a dumping ground for obsolete, inefficient and environmentally unsafe manufacturing equipment from other countries. In unity, we can defend the local industry. Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

Boris Johnson’s trucker troubles turn into a business nightmare

By Joe Mayes | Bloomberg Opinion

hen Helen Wang’s Abakus Foods is ready to ship its seaweed crisps—stocked in the likes of J Sainsbury Plc. and Asda—she calls up a haulier.

Normally, a truck comes the same day to collect them from her base in northeast London. But, in recent weeks, there has been a problem: a national shortage of lorry drivers means deliveries are facing days-long delays, and stock is piling up. “It’s a struggle every time,” said Wang, who has had to pay 3,000 pounds ($4,100) a month to rent extra storage space for goods that haven’t been collected. “It’s meant a lot of headache and tension.” Her experience is one shared by many companies across Britain: a shortage of drivers, exacerbated by Brexit and Covid, is pushing up delivery costs and leading to empty shelves in stores. It’s a sign of a much bigger structural shift in the UK economy after Boris Johnson took the country out of the European Union. Industries from hospitality to agriculture and health care have to adapt to a sudden reduction in the availability of cheap labor from the bloc. The symptoms are likely to be exacerbated following the government’s lifting of the bulk of Britain’s coronavirus restrictions on July 19. The shortage is already having ripple effects throughout the UK economy. Fresh fruit, vegetables and milk are going to waste due to canceled or delayed deliveries, according to Tom Bradshaw, vice

president of the National Farmers’ Union. And the country’s biggest supermarkets are beginning to see gaps in their offerings due to goods not arriving at their stores.

‘Perfect storm’

“While we might not always have the exact product a customer is looking for, we’re delivering more products to stores every day and we are confident customers will find a suitable alternative,” Sainsbury said in a statement. In June, Tesco Plc CEO Ken Murphy said the company is working “exceptionally hard” to manage the driver shortage. The lack of truckers—the result of an aging workforce, the high cost of training new drivers, and the industry’s low margins—has long been a problem in Britain. But the twin effects of Brexit and Covid have brought the industry to a crisis. In 2020, there were 76,000 fewer drivers than needed, a figure that has since risen to 90,000, according to Logistics UK, a lobby group. “It’s close to a perfect storm,” said Ian Baxter, chairman of Baxter Freight, a Nottingham-based transport firm that moves goods for FTSE-100 companies. According to him, the pandemic has disrupted training courses for new drivers, while the additional customs checks required by Brexit have

delayed truckers making deliveries. “The supply of vehicles is extremely tight,” Baxter said. Prices for sameday deliveries have gone up by as much as 30 percent, he added.

First test

For Johnson’s gover nment, addressing the driver shortage is one of its first big practical tests following Brexit—but the solutions it has so far offered have only put it at odds with the industry. The government has rejected calls from hauliers to give overseas drivers temporary visas to help plug the gap. For Johnson, one of the key arguments in favor of leaving the EU was controlling migration. “We have no plans to introduce a short-term visa for HGV drivers,” the Department for Transport said in a statement. “Employers should invest in our domestic workforce instead of relying on labor from abroad.” To address the problem, DfT said it will provide additional testing capacity so more drivers can become qualified and provide more funding to train drivers. The government is also relaxing rules limiting the hours truckers can drive each day. They previously had to stop after nine hours, but this has been extended to 10 hours. Yet the industry argues this is a poor, low-impact fix that threatens driver safety.

‘Incredibly short-sighted’

“Tired drivers do not make better drivers,” said Rod McKenzie, managing director of public policy at the

Road Haulage Association. “It’s an incredibly short-sighted decision.” Johnson’s administration has left it up to the industry to take further measures. Speaking in the House of Lords on July 7, transport minister Charlotte Vere called on truckers to “step up just a little more.” Increasing wages in the industry could help. Before the pandemic, a driver could expect to earn an average of about 32,000 pounds a year. Truckers hired through agencies can now expect to earn more than 40,000 pounds, a figure that is set to rise further as the shortage worsens, according to Kieran Smith, chief executive officer of Driver Require, a specialist driver recruitment agency. The best way of fixing the immediate shortage, Smith said, would be to encourage already-licensed lorry drivers in the UK who have found work in other fields to get behind the wheel again. There are about 300,000 qualified drivers who fit this profile, and many could be tempted back with better pay and working conditions, he said. For Hubert Zanier, managing director of Kipferl, a Londonbased cafe that delivers Austrian delicacies like sachertorte across the UK, a solution to the shortage can’t come soon enough. He complains he has been plagued by drivers not showing up to collect consignments or failing to deliver them. “We have a real problem in this country,” Zanier said. “Delivery is getting more and more a real nightmare.”

Bezos riding own rocket on company’s 1st flight with people By Marcia Dunn AP Aerospace Writer

AN HORN, Texas—Jeff Bezos is about to soar on his space travel company’s first flight with people on board. The founder of Blue Origin as well as Amazon on Tuesday will become the second billionaire to ride his own rocket. He’ll launch from West Texas with his brother, an 18-year-old from the Netherlands, and an 82-year-old female aviation pioneer from Texas—the youngest and oldest to ever hurtle off the planet. Blue Origin’s New Shepard rocket is set to blast off with its eclectic group of passengers on the 52nd

Not everyone in the remote, desert town of Van Horn was excited about the drama unfolding 25 miles (40 kilometers) to the north. “It’s a luxury that’s going to be set aside for the wealthy,” said pizza shop owner Jesus Ramirez.

anniversary of the Apollo 11 moon landing. Bezos is aiming for an altitude of roughly 66 miles (106 kilometers), more than 10 miles (16 kilometers) higher than Richard Branson’s ride on July 11. The capsule is fully automated, so there’s no need for trained staff on the quick up-and-down flight,

expected to last just 10 minutes. Branson’s Virgin Galactic rocket plane needs two pilots to operate. Bezos’ dream-come-true trip follows 15 successful test flights to space by New Shepard rockets since 2015, all of them unoccupied. If successful, Blue Origin plans two more passenger flights by year’s end. The company has yet to open ticket sales to the public and is filling upcoming flights with those who took part in last month’s $28 million charity auction for the fourth capsule seat. The mystery winner bowed out of Tuesday’s launch because of a scheduling conflict. That opened up the slot for Oliver Daemen, a college-bound

student from the Netherlands whose father was among the unsuccessful bidders. Also flying: Bezos’ younger brother Mark and Wally Funk, one of 13 female pilots who went through the same testing back in the early 1960s as NASA’s Mercury astronauts, but failed to make the cut because they were women. Not everyone in the remote, desert town of Van Horn was excited about the drama unfolding 25 miles (40 kilometers) to the north. “It’s a luxury that’s going to be set aside for the wealthy,” said pizza shop owner Jesus Ramirez. He planned to watch the morning launch from his restaurant’s patio with a cup of coffee.

A12 Wednesday, July 21, 2021

FDC: Covid loans may spur debt crisis; wealth tax needed

By Cai U. Ordinario

@caiordinario

HE country’s Covid-19 debts are enough to plunge the Philippines into an 1980s-like debt crisis, according to the Freedom from Debt Coalition (FDC).

In its State of the People Address, FDC said that as of May 2021, the country’s debt has reached P11.07 trillion, a 44.98-percent increase from the end 2016-level. In order to avoid this, FDC backed efforts to push for a wealth tax in a much-needed law to augment the country’s financial needs at this time. “With government debt spiking, revenues falling and the budget deficit widening, the country appears to be headed down a path similar to the crisis period of the 1980s,” FDC said in its State of the People Address (SOPA) 2021 on Tuesday. “The coalition is also pushing for a Wealth Tax on the country’s top billionaires, arguing this could raise sufficient revenues for the nation’s recovery,” it added. Based on FDC’s brief, at the

end of 2019, the Philippines’s outstanding debt already stood at P7.73 trillion. By end 2020, FDC said the debt ballooned to P9.8 trillion, representing an increase of P2.1 trillion or a 27-percent increase from the previous year’s level. The borrowings secured in 2020, FDC said, accounted for the largest annual addition to the country’s debt stock. “Latest data shows that the national debt stands at P11.071 trillion. Still, the government intends to borrow another P3 trillion this year,” FDC said. The organization also noted that in the first quarter of 2021, debtto-GDP ratio stood at 60.4 percent. This was a record high over a 16-year period and significantly higher than the pre-Covid level of

39.6 percent, it noted. Further, FDC said the budget deficit in 2020 was P1.37 trillion, more than double the deficit in 2019. “For 2021, while the proposed budget is pegged at P4.47 trillion, revenues amount to only P2.72 trillion. Unless there is a reversal of the current slide in revenue generation or alternative fund sources are found, the financing needed to plug deficits will continue to be sourced from loans,” FDC said.

Wealth tax

ONE of FDC’s proposals is to craft a wealth tax which it said, would “correct tax injustice and solve poverty.” FDC explained that in 2019, some P30.66 trillion in financial wealth circulated in the Philippines. However, only about 30 percent of the population had access to 96 percent of this wealth. Of the 96 percent, FDC said, 13 percent is owned by only 40 families. Further, a total of P3 trillion of this 13 percent is owned only by 300 individuals. Those without bank accounts— the marginalized, laborers, etc., who make up 70 percent of the population—have to share P1.4 trillion in cash.

“Due to the wide wealth gap, the proposal is to tax the extremely wealthy according to their net income. Using a 5-7-10 taxation scheme, those with an annual net income of P5 million and above must pay additional taxes,” FDC said. FDC proposed that a 1 percent wealth tax could help the government generate P316.55 billion, based on 2019 data which puts the total wealth at P31.66 trillion. A 2-percent tax per annum will generate P633.1 billion while a 3 percent tax will create additional government revenues worth P949.7 billion. FDC proposed that if the wealth tax targets those with stock and bank accounts, who have P29.58 trillion in stocks & transferable, time and savings deposits, the government could generate wealth tax revenues of P295.77 billion at 1 percent, P591.54 billion at 2 percent, and P887.3 billion at 3 percent. “Billionaires have wealth that could last for seven generations in their respective families. The State should thus exact contributions from these individuals considering that they made their fortune in this country and are in fact subsidized by the working people through low wages and low prices for agricultural produce,” FDC said. “Far from harming the business sector and the economy in general, the wealth tax would increase expenditures in basic goods and services, thus providing an added boost to the local economy—thereby also benefiting the very persons who will pay the wealth tax,” it added.

OPEN ACCESS IN DATA TRANSMISSION BILL PUSHED ANEW BY JFC By Tyrone Jasper C. Piad @Tyronepiad

HE foreig n busi ness groups reiterated their call for the government to approve a bill aimed at improving the broadband infrastructure in the country amid the accelerated shift to digital in pandemic. In a statement on Tuesday, the seven members of the Joint Foreign Chambers (JFC) said they were optimistic that Congress will greenlight at its third regular session the Open Access in Data Transmission bill. “ The legislation aims to bridge critical gaps in broadband infrastructure by attracting more firms to invest in the data transmission and broadband sector,” JFC said. The foreign chambers noted that the House of Representatives has approved the House Bill 8910 on second reading. However, the Senate counterpart bill is still pending in the Science and Technology Committee, they added. The JFC is also looking forward to any mention of the bill during the President’s last State of the Nation Address on July 26. The private sector groups recommend certifying the measure as urgent to stress its importance on economic recovery and competition and investments in broadband. “Digital infrastructure in the country is not as good as infrastructure in competing countries in the region. World

Economic Forum ratings, where the Philippines is usually behind Thailand, Malaysia, Indonesia, Singapore, and increasingly behind Vietnam, indicate the Philippines has less robust and competitive digital infrastructure,” the JFC noted. The pandemic, which caused widespread mobility restrictions, proved the need to develop a robust digital infrastructure, the joint statement read. When passed into law, the Open Access bill will provide a competitive policy and regulatory framework that eases entr y requirements to the data transmission market, the JFC said. “Without substantial new investment and competition in each of the four ‘miles’ of the broadband sector, recovery from the pandemic will be slower and Filipinos will be less well served than their counterparts in Asean,” the business groups warned. T he s i g n ator ie s of t he statement are the American Chamber of Commerce of the Philippines, Australian-New Zealand Chamber of Commerce of t he Ph i l ippi nes, Canadian Chamber of Commerce of t he Ph i l ippi nes, European Chamber of Commerce of the Philippines, Japanese Chamber of Commerce and Industry of the Philippines, Korean Chamber of Commerce of the Philippines and Philippine Association of Multinational Companies Regional Headquarters Inc.

Continued on A6

Higher IRA, better tax Sotto expects collection push up ‘no problem,’ LGUs’ income 12% Senate keeps hybrid setup By Bernadette D. Nicolas

@BNicolasBM

OCAL government units’ (LGUs) total current operating income grew by 12 percent to P825.2 billion in 2020 on the back of higher internal revenue allotment (IRA) and improved local tax collections. The Bureau of Local Government Finance (BLGF) said this was higher than the LGUs’ total current operating income in 2019 at P738.54 billion. The double-digit growth in total current operating income was mostly attributed to the 18-percent jump in the external revenue sources of LGUs, including the IRA. Revenues from external sources rose to P573.55 billion last year from P484.72 billion in 2019. Making up the bulk of external sources of revenues was IRA which amounted to P509.65 billion, up by 11 percent from P457.15 billion in 2019. BLGF Executive Director Niño Raymond Alvina reported to Finance Secretary Carlos G. Dominguez III that LGUs’ dependence on external sources as ratio of their operating income last year increased to 70 percent from 66 percent in the previous year. “In aggregate terms, LGUs’ dependence on external sources in Fiscal Year (FY) 2020 reached 70 percent, which is 18 percent or P88.83 billion higher than 2019 levels. On IRA dependence, provinces showed the highest dependency ratio at 78 percent, followed by municipalities (74 percent) and

cities (42 percent) in FY 2020,” Alvina said. Apart from IRA, other external revenue sources of LGUs include transfers from the national government, which amounted to P63.9 billion in 2020, more than double the P27.57 billion in 2019. The share of these other sources in the current operating incomes of LGUs grew to 8 percent in 2020, or 4 percent higher than in 2019. In terms of revenues from local sources, Alvina said LGUs collected a total of P251.65 billion, a slight decline of 1 percent from P253.82 billion in 2019. Broken down, tax revenues rose to P189.86 billion from P183.46 billion in 2019 but its share in the current operating income shrank to 23 percent in 2020 from 25 percent in 2019, Alvina said. On the other hand, non-tax revenues shrank by 12.18 percent to P61.79 billion in 2020 from P70.36 billion in 2019. Its share in the current operating income also slid to 7 percent from 10 percent previously. Out of the P192.24 billion adjusted goal for locally sourced revenues in 2020, Alvina said provinces, cities and municipalities surpassed the target as it collected P244.19 billion. “This represents a 127-percent collection efficiency,” he said. Locally sourced revenues cover collections from the real property tax, local business tax, fees and charges, and receipts from economic enterprise. Continued on A6

ENATE President Vicente Sotto III expects “no problem” in mustering a quorum at the resumption of regular sessions Monday (July 26) amid a lingering Covid-19 contagion, as majority of senators and Senate employees will be physically present, having been vaccinated against the deadly virus. Still, the leadership adopted an attendance option for senators apart from physical presence, allowing virtual presence-attendance via video conference in hybrid plenary session and committee hearings, effectively solving quorum problems. Since the surge of the contagion, Sotto III said employee presence at the Senate building had been limited according to the standard set by the Inter-Agency Task Force on Emerging Infectious Diseases (IATF). This, as dozens of employees and three senators were infected with Covid, which also sent several into self-isolation after being in contact with Covid-positive people like resource persons and consultants. Meanwhile, the Senate Secretariat confirmed it was retaining the policy that all persons entering the premises must test negative in swab tests, including guests invited to testify at Senate hearings. Butch Fernandez

Editor: Jennifer A. Ng

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Wednesday, July 21, 2021

Bid to stop Meralco PSA junked Globe to redeem

By Joel R. San Juan

@jrsanjuan1573

he Supreme Court (SC) has junked the petition seeking to scrap the power supply agreement (PSA) between the Department of Energy (DOE) and the Manila Electric Co. (Meralco) for the latter’s procurement of 1,800 MW of capacity. In a seven-page resolution, the Court’s First Division held that the petition was filed prematurely and in violation of the hierarchy of courts. The ruling stemmed from the petition filed by Power for People Convenor, Konsyumer National Coordinator, Philippine Movement for Climate Justice and Freedom from Debt Coalition. The petition sought the Court’s urgent issuance of a temporary restraining order to stop respondents DOE Secretary Alfonso G. Cusi and lawyer Ferdinand

2 PHL firms top best workplaces in Asia list

Domingo, chairman of the Third Party Bids and Awards Committee (TPBAC), from pursuing the PSA for the 1,800 MW baseload capacity. The petitioners argued that the provisions in the terms of reference (TOR) “are glaringly unfavorable to consumers of electricity,” which is contrary to Meralco’s obligation to supply electricity in the least-cost manner. The respondents, according to the petitioners, gravely abused their discretion for allowing the competitive

wo Philippine companies topped the 2021 Best Workplaces in Asia list in two different categories, while seven others joined other Asian companies to complete the 2021 roster. Canva Philippines, the online design company founded by FilipinoAustralian Melanie Perkins, topped

selection process to proceed even with the questionable TOR. They further averred that the TOR for the 1,200 MW and 500 MW contracts contained provisions that guarantee lower electricity rates for consumers than those provided in the TOR for the 1,800-MW capacity. The petitioners said they decided to directly file their petition with the Court considering that the issues raised were of transcendental importance and involve public welfare and concerns purely questions of law. The SC noted that the petitioners also raised several contentions on the advantageous terms for Meralco’s procurement of PSAs, which would require the assessment of the costs necessary to generate the required capacity, the expected energy consumption of electricity consumers within Meralco’s franchise area for the period of the PSA, and a historical analysis of Meralco’s current PSAs with other generation companies. The Court said these issues were factual in nature which would require looking into the wisdom of the Meralco

the Best 100 Small and Medium Business (SMB) category, while DHL Express ranked first among the Best 30 Multinational Companies (MNC) in Asia, according to the list released by Great Place to Work Philippines on Tuesday. Western Union Services Philip-

TPBAC TOR for the 1,800-MW contract capacity. “However, without a complete and settled factual determination, the Court can only surmise and speculate on the merits of the challenged terms in the TOR. Petitioners’ direct recourse to the Court is therefore fatal to their petition,” the SC declared. “After a careful study of the allegations and the records of this case, the Court resolves to dismiss the petition for violating the doctrine of hierarchy of courts.” The SC said the admission of the petitioners that the DOE has yet to act on their letter protesting the TOR only highlighted the prematurity of the petition. The SC also said pending the Energy Regulatory Commission’s review of the PSA, the reasonableness of the electricity rates resulting from the TOR for the 1,800 MW baseload is yet to be determined. “It is therefore clearly premature for the Court to take cognizance of the petition and supplant any term prescribed by the Meralco TPBAC,” the Court said.

pines, Inc. placed 7th in the Best 70 Large category. Completing the MNC category are Ericsson Telecommunications, Inc, 7th; American Express International, 9th; Synchrony Global Services, 13th; Paypal Philippines, 16th; SAS Institute, 22nd; and S&P Global Philippines, 25th.

preferred shares

he per petual non-voting preferred shares of Ayalaled Globe Telecom Inc. will be suspended for trading starting Friday morning as the company prepares to redeem the said shares in August. Globe, the country’s second largest telecom operator, has asked for the voluntary trading suspension of the preferred shares for its redemption on August 22, the seventh year anniversary from the issue date of the said shares. “In view of the foregoing, the record date for the full redemption of the shares is set for July 28, 2021, and the trading suspension on our GLOPP shares is set starting July 23, 2021, which is the ex-date. The shares will be recorded as treasury stock of Globe and shall be retired,” the company said in its disclosure. The Philippine Stock Exchange has approved the voluntary trading suspension. “The effect of the redemption will decrease the number of foreign shareholders of preferred shares,” the company said. Globe issued some 20 million nonvoting preferred shares, which it will redeem at P500 apiece. It based the said amount on the redemption price equal to the issue price of the shares

plus accrued and unpaid dividends up until August 22 based on the dividend rate of 5.2006 percent per annum. The redeemed shares will be recorded as treasury stock of Globe and shall be retired, the company said. GLOPP shares closed on Monday at P505 apiece, while Globe’s common shares closed at P1,930 per share. In June Globe signed term loan facilities with China Banking Corp. and Philippine National Bank for P5 billion and P7 billion, respectively. The company also signed a term loan facility with Bank of China (Hong Kong) Limited for $100 million last May. The loans will be used to finance the company’s capital expenditures. Globe expects to spend a new record of P70 billion for capital expenditures in 2021, mainly for the continuous modernization of its network. Globe said it spent P19.1 billion in capital expenditures as of endMarch, exceeding last year’s spending by 79 percent. The company invested heavily in data-related requirements to support the surge in data usage. The company is building more cell sites and upgrading all its sites to fourth generation/long-term evolution technology (4G/LTE). VG Cabuag

Companies BusinessMirror

Wednesday, July 21, 2021

‘Senate panel to continue review of Malampaya deals’

By Lenie Lectura

@llectura

he Senate Energy Committee will continue to probe the deals sealed by Udenna Corp. (UC) with Chevron Malampaya and Shell Philippines Exploration B.V. (SPEX) even if the Department of Energy (DOE) has already cleared one of the two deals. “We will continue to evaluate. My view on the Chevron deal is that it should also be reviewed by the committee because of the same logic that in the end it would still be Udenna Corp. that will be the decision maker. Despite their argument that operations will be left untouched, the decisions would still be elevated to the board level. But when we evaluate UC, there are a lot of red flags,” committee chairman Sherwin Gatchalian said in a phone interview. UC Malampaya Philippines Pte. Ltd. (Udenna), which bought Chevron’s 45-percent stake in

the Malampaya Gas-to-Power Project, justified to the DOE its financial, technical and legal qualifications. Based on an unaudited financial report it submitted to the DOE, UC Malampaya has $177.421 million in available working capital. Also, UC Malampaya said it would not be involved in the operations since the deal only involved the sale of shares of stock while the manpower, the technological, and operational framework remained the same. “With a transaction such as this you have to be prudent. There is a big difference between un-

they are already having financial problems which, for me, is already a red flag.” In a statement on Monday, Malampaya Energy said its acquisition of SPEX is supported by international reputable financial institutions which saw Malampaya Energy’s capability to meet its obligations and to deliver value. “Precisely. That’s the reason why the committee is looking very closely. They admitted that the purchase is through loans. Prior to the purchase, the mother company is already being scrutinized by banks because of its financial capacity,” said Gatchalian. Malampaya Energy, however, said that the capitalization is only one element of a capital structure and is not on its own a reflection of the company’s ability to fund the deals. “The acquisition of SPEX is 100 percent underwritten and funded via bank loans from our existing lenders. These full facility agreements have been provided to the relevant decision makers,” it said, adding that Malampaya Energy is willing to proceed with the development and rejuvenation of Malampaya.

audited and audited. Unaudited can be changed. If the decision is based on something that can be changed then that decision is risky and it becomes compromised. It should have required audited over unaudited. There is no reason to hasten the decision. The DOE cannot justify and it just gives little pieces of answers. How can we have a comfort level if the agency is not ready and prepared to answer the committee? The DOE has to justify its approval of the deal,” Gatchalian added. The DOE assured the committee that it would continue to exhaust all measures in thoroughly evaluating the legal, financial, and technical aspects of the transaction despite its approval. A n o t h e r U C s u b s i d i a r y, Malampaya Energy XP Pte Ltd., bought the 45-percent stake of Malampaya operator SPEX. Gatchalian questioned Malampaya Energy’s financial capability, given its paid-up capital of P5,000. “It’s pointless to evaluate a shell company. We will only go back to UC whose subsidiaries are also losing money. They admitted that the purchase is going to be all loans. Prior to that purchase,

Ayala unit boosts Vietnam’s clean energy supply

C Energy’s participation in Vietnam renewable energy (RE) projects has reached 1,000 megawatts (MW), the power arm of conglomerate Ayala Corp. said Tuesday. Of the figure, 637MW is attributable to AC Energy. The company’s maiden project in Vietnam is the 405 MW Ninh Thuan solar farm, which was energized in 2019. AC Energy partnered with the BIM Group to develop this. Subsequently, the 80 MW Khan Hoa and Dak Lak solar farms, developed in partnership with AMI Renewables, also started its operations in 2019 and have since been contributing to Vietnam’s clean energy supply. AC Energy also leveraged on Vietnam’s strong wind resource potential, making a strategic pivot to jointly develop wind projects with its partners to invest a total of $445 million in the country, with the company’s wind projects under construction reaching 440 MW in capacity. It partnered with The Blue Circle to develop the Mui Ne wind farm in the Binh Thuan province, with project construction in full swing. With a 170 MW expansion potential, the partners in the Soc Trang province of Southern Vietnam, two wind farms are being developed by AC Energy with long time partner, UPC Renewables. The Lac Hoa and Hoa Dong wind farms have an aggregate capacity of 60 MW. The largest onshore wind farm in Vietnam, the 252 MW Quang Binh wind farm, is AC Energy’s latest partnership with AMI Renewables. Foundation works for 52 out of the 60 turbines are already completed

with 14 turbines installed, while the project’s transmission lines are also completed and both substations energized. Meanwhile, the 88 MW Ninh Thuan wind farm, AC Energy’s latest development with the BIM Group, recently completed its foundation pour, with six turbines fully erected and installed. The wind farm’s transmission lines and substation are already completed and ready for energization. “These project milestones happening in Vietnam all make for a really exciting period in our renewables expansion,” said Patrice Clausse, COO of AC Energy International. “We are carving a niche for AC Energy through our landmark sustainable investments, establishing a solid track record in this country. We will continue to develop large-scale developments to support Vietnam’s goal to increase the share of renewables in their energy mix.” With four wind farms set to be operational within 2021, and with the upcoming completion of the infusion of its international assets that will bring 1,408 MW of renewables capacity, AC Energy’s renewable energy portfolio is set to reach 2,500 MW within the year, already in the halfway mark of its target to reach 5,000 MW of renewables capacity by 2025. Since 2017, AC Energy has been pushing its renewables agenda to become a primary mover in Vietnam. “Vietnam is an ideal place for sustainable investments as it leads the race to clean energy transition in the post-COVID world,” said Eric Francia, AC Energy President. “Our partners’ deep market expertise bolster our leadership position in Vietnam as we aim to play a meaningful role in the green-led recovery by building climate resilience and creating jobs. We remain well-poised to be one of the largest listed renewables platforms in Southeast Asia, and reach 5,000 MW of renewables capacity by 2025.” Lenie Lectura

mutual funds

July 19, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

215.22

6.77%

-5.37%

-4.83%

-5.28%

ATRAM Alpha Opportunity Fund, Inc. -a

1.3797

33.55%

-1.14%

0.34%

5.08%

9.47%

-9.46%

-7.2%

-5%

Climbs Share Capital Equity Investment Fund Corp. -a 0.773 12.42%

-4.73% n.a.

-3.84%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7426 11.77%

-4.11% n.a.

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9764

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

4.7469

First Metro Save and Learn Philippine Index Fund, Inc. -a,4

0.13%

9.86%

-3.3%

-2.94%

-3.93%

0.7012

2.74%

-6.56%

-6.96%

-2.4% n.a.

-1.98%

MBG Equity Investment Fund, Inc. -a

99.92

24.64%

PAMI Equity Index Fund, Inc. -a

44.0342

8.56%

-3.68%

-3.8%

-6.01%

Philam Strategic Growth Fund, Inc. -a

462.87

6.72%

-3.59%

-4.15%

-5.34%

20.66% n.a. n.a.

-3.42%

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

1.0598

Philequity Dividend Yield Fund, Inc. -a

1.127

10.24%

-3.14%

-2.98%

-3.53%

Philequity Fund, Inc. -a

33.0934

9.96%

-2.95%

-2.64%

-4.82%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8614

7.74% n.a. n.a.

-5.65%

Philequity PSE Index Fund Inc. -a

4.5157

9.29%

-3.06%

-3.03%

-5.75%

755.8

9.26%

-2.97%

-3.15%

-5.72%

Soldivo Strategic Growth Fund, Inc. -a

0.6923

10.68%

-6.56%

-6.05%

-3.7%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.441

7.89%

-5.12%

-4.4%

-5.04%

Philippine Stock Index Fund Corp. -a

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.863 8.74%

-3.33%

-3.3%

-5.96%

United Fund, Inc. -a

-3.46%

-2.39%

-4.84%

-2.77%

-2.61%

3.1585

9.4%

-7.71%

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

101.4424

9.23%

-5.68%

Primarily invested in foreign currency securities $1.2463

20.73%

6.55%

7.51%

3.61%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8047

ATRAM AsiaPlus Equity Fund, Inc. -b

25.1%

11.62%

11.99%

7.88%

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

1.6716

6.76%

0.11%

-2.02%

0.18%

ATRAM Philippine Balanced Fund, Inc. -a

2.1943

6.02%

-0.91%

-1.57%

-3.99%

First Metro Save and Learn Balanced Fund Inc. -a 2.5553

5.17%

-0.18%

-0.92%

-2.73%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1913

2.52% n.a. n.a.

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

4.17%

1.51%

1.9269

-0.21%

-1.89%

PAMI Horizon Fund, Inc. -a

3.63

3.26%

0.64%

-1.44%

-4.17%

Philam Fund, Inc. -a

16.2579

3.89%

0.73%

-1.46%

-4.01%

Solidaritas Fund, Inc. -a

2.0224

4.8%

-0.71%

-1.22%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4597 4.81%

-1.61%

-3.42%

-2.4%

-3.18%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9738

2.17% n.a. n.a.

-4.77%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.888

3.79% n.a. n.a.

-6.45%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8723

5.01% n.a. n.a.

-6.52%

Sun Life Prosperity Dynamic Fund, Inc. -a

5.65%

-2.94%

0.8616

-2.15%

-2.89%

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

$0.03828

-1.24%

PAMI Asia Balanced Fund, Inc. -b

1.33%

-2.15%

10.67%

4.05%

4.23%

-1.87%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7525 19.03%

$1.1287

8.94%

2.91%

8.44%

5.31%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2202 9.42%

5.21%

4.58%

1.51%

-3.68%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 19, 2021

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

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

43.1 108.4 86.05 24.6 9.68 46.1 20.5 56.9 19.92 112 76.75 1.37 4.3 2.92 1.27 0.36 0.67 232.2 0.93

44.9 108.5 86.3 24.8 9.75 46.15 20.6 57 20 113.2 76.85 1.38 4.33 2.98 1.29 0.39 0.72 232.4 0.99

45 108 86.65 25 9.8 47.5 20 56.3 20.1 114 77 1.49 4.3 2.91 1.29 0.38 0.68 240 0.93

45.5 109 86.65 25 9.8 47.75 20.6 57 20.25 115 77 1.49 4.4 2.92 1.29 0.395 0.68 240 0.93

43 106 84.2 24.6 9.65 45.05 20 56 19.82 111.3 76.2 1.38 4.25 2.91 1.27 0.36 0.67 215 0.93

43.1 108.5 86.05 24.6 9.75 46.1 20.6 57 19.92 112 76.85 1.38 4.33 2.92 1.27 0.39 0.67 232.2 0.93

31,400 2,706,600 1,326,210 112,600 617,200 5,298,700 580,100 6,380 172,500 1,032,510 50,060 501,000 614,000 17,000 25,000 1,210,000 39,000 6,970 3,000

1,364,810 291,664,473 113,249,566.50 2,785,610 5,993,681 243,845,220 11,711,905 358,143 3,453,677 116,176,284 3,838,907.50 707,400 2,661,440 49,530 32,010 443,350 26,150 1,577,892 2,790

-607,050 -43,018,719 17,774,421.50 -108,161,785 -570 2,240 6,015 8,765,553 1,680,097 1,410 47,630 32,400 2,700 337,914 -

INDUSTRIAL AC ENERGY 8.21 8.23 8.13 8.34 7.82 8.21 86,972,500 702,463,355 1.26 1.27 1.27 1.27 1.24 1.27 197,000 248,870 ALSONS CONS ABOITIZ POWER 23.75 24 23.95 24 23 24 3,865,600 90,956,885 BASIC ENERGY 0.64 0.65 0.67 0.67 0.61 0.65 33,900,000 21,606,530 29.05 29.8 29.5 29.8 28.6 29.8 394,500 11,567,470 FIRST GEN 76.1 76.5 77.25 77.3 76 76.1 266,080 20,485,915 FIRST PHIL HLDG MERALCO 270.4 270.6 272 272.4 270.4 270.6 257,200 69,673,822 MANILA WATER 17.6 17.66 17.58 17.7 17.06 17.6 1,793,700 31,229,730 3.29 3.3 3.38 3.39 3.25 3.3 2,281,000 7,483,010 PETRON 4.03 4.09 4.02 4.02 4.02 4.02 9,000 36,180 PETROENERGY PHX PETROLEUM 12.4 12.84 12.4 12.84 12.38 12.84 16,500 210,506 19.8 19.96 20.3 20.3 19.02 19.8 288,600 5,615,670 PILIPINAS SHELL 11.58 11.6 12.28 12.28 11.5 11.58 1,040,100 12,165,658 SPC POWER VIVANT 16.16 17.5 16.16 16.16 16.16 16.16 500 8,080 5.75 5.8 6.06 6.06 5.61 5.8 859,200 4,967,452 AGRINURTURE 2.9 2.91 2.87 2.9 2.85 2.9 760,000 2,179,910 AXELUM 13.2 14 14.3 14.3 13.02 14 5,900 80,820 CNTRL AZUCARERA CENTURY FOOD 24.05 24.2 24 24.05 22.8 24.05 1,923,000 45,230,930 DEL MONTE 15.58 15.6 15.02 15.6 14.72 15.6 560,300 8,629,712 7.81 7.89 7.9 7.98 7.5 7.89 3,874,200 30,053,815 DNL INDUS 12.48 12.5 12.6 12.62 12.3 12.5 4,937,900 61,148,890 EMPERADOR SMC FOODANDBEV 80.5 81.75 82.5 82.5 80 81.75 297,870 24,230,079.50 ALLIANCE SELECT 0.64 0.66 0.67 0.67 0.65 0.66 290,000 189,860 1.29 1.3 1.34 1.34 1.28 1.3 12,489,000 16,264,980 FRUITAS HLDG 91.45 91.5 91.1 93.9 90.1 91.5 47,120 4,344,871 GINEBRA JOLLIBEE 210 210.6 209.4 211 202.6 210.6 1,055,320 220,849,324 7.59 7.99 7.59 7.59 7.59 7.59 1,600 12,144 MACAY HLDG 6.2 6.29 6.4 6.4 6.18 6.29 237,600 1,490,193 MAXS GROUP MG HLDG 0.255 0.26 0.26 0.27 0.25 0.255 2,550,000 651,750 15.14 15.18 15.68 15.68 14.42 15.18 36,547,300 550,134,530 MONDE NISSIN 7.72 7.79 7.99 7.99 7.7 7.72 102,200 788,892 SHAKEYS PIZZA 1.01 1.03 1.02 1.04 1 1.01 5,053,000 5,126,210 ROXAS AND CO RFM CORP 4.5 4.52 4.52 4.53 4.52 4.52 8,000 36,170 SWIFT FOODS 0.139 0.14 0.141 0.141 0.135 0.14 19,690,000 2,724,800 135.6 136 137.7 137.7 133.5 135.6 394,740 53,519,364 UNIV ROBINA 0.81 0.82 0.82 0.82 0.8 0.82 7,488,000 6,100,530 VITARICH CONCRETE A 51.55 52 52.7 52.7 52 52 190 9,961 56.05 59.8 59.85 59.85 59.8 59.8 1,010 60,398.50 CONCRETE B 1.25 1.26 1.25 1.28 1.21 1.25 4,368,000 5,379,210 CEMEX HLDG EAGLE CEMENT 14.5 14.52 14.5 15.48 14.3 14.52 1,046,900 15,232,680 EEI CORP 7.81 7.82 7.81 8 7.8 7.81 86,700 677,173 6.64 6.65 6.73 6.75 6.4 6.64 1,320,200 8,631,947 HOLCIM 6.36 6.39 6.35 6.46 6.11 6.36 739,400 4,626,925 MEGAWIDE PHINMA 14.3 14.4 14.56 14.56 14.2 14.4 195,200 2,785,088 TKC METALS 1.02 1.06 1.03 1.09 1.02 1.02 179,000 186,450 2 2.02 2.13 2.13 1.81 2.02 9,103,000 18,133,070 VULCAN INDL 144.5 173.8 145 145 145 145 30 4,350 CHEMPHIL CROWN ASIA 1.68 1.7 1.71 1.73 1.68 1.7 397,000 674,430 1.87 1.93 1.96 1.96 1.86 1.93 42,000 78,380 EUROMED 4.12 4.49 4.28 4.28 4.11 4.11 7,000 29,110 LMG CORP PRYCE CORP 5.35 5.42 5.4 5.42 5.35 5.42 201,700 1,085,281 CONCEPCION 20.15 20.8 20.85 20.85 20.05 20.8 16,200 331,765 3.03 3.04 3.26 3.28 2.93 3.04 15,891,000 48,827,360 GREENERGY 9.2 9.21 9.1 9.25 8.95 9.2 647,600 5,875,380 INTEGRATED MICR IONICS 1.03 1.04 1.02 1.03 1 1.03 298,000 302,630 5.82 6.2 5.83 6.2 5.82 6.2 12,300 71,743 PANASONIC 1.27 1.28 1.28 1.29 1.25 1.28 622,000 789,620 SFA SEMICON 5.14 5.3 5.22 5.3 4.96 5.3 4,665,800 23,984,202 CIRTEK HLDG

84,660,884 -20,160 -11,587,695 2,840 -5,068,045 1,061,340 -5,327,190 4,762,526.00 -63,130 -20,100.00 -405,300 63,052.00 -208,322 1,186,350 -14,462,345 -1,688,978 -783,977 -5,010,312 1,982,160.50 -7,907,510 -1,345,832 151,014,242 383,913 -143,507,194 63,213 -1,276,060 -18,080 -9,730 -19,025,767.00 925,000 875,000 -9,715,000 659,293 -734,681 28,800 204,000 5,938 -207,020 -3,009,930.00 -135,214.00 59,490 32,068

HOLDING & FRIMS ABACORE CAPITAL 0.97 0.98 1 1 0.95 0.98 7,634,000 7,399,550 6.5 7 6.8 7 6.8 7 8,300 56,480 ASIABEST GROUP AYALA CORP 745 747 768 768 743.5 745 368,280 275,946,255 ABOITIZ EQUITY 39.6 39.7 40.1 40.1 39.1 39.6 761,100 30,122,405 10.02 10.1 9.96 10.1 9.76 10.1 3,271,400 32,618,209 ALLIANCE GLOBAL 4.05 4.06 3.9 4.15 3.8 4.06 10,816,000 42,420,880 AYALA LAND LOG ANSCOR 6.7 6.99 6.98 6.98 6.6 6.7 49,600 336,352 ANGLO PHIL HLDG 0.9 0.91 0.94 0.94 0.86 0.9 5,336,000 4,777,570 0.65 0.66 0.65 0.66 0.64 0.65 813,000 526,520 ATN HLDG A 0.66 0.71 0.67 0.67 0.65 0.66 101,000 66,600 ATN HLDG B COSCO CAPITAL 5.04 5.06 5.15 5.15 5.01 5.04 597,400 3,013,403 DMCI HLDG 6.18 6.19 6.3 6.31 6.05 6.18 8,677,400 53,619,330 7.95 8 8.06 8.06 7.9 7.95 73,400 587,143 FILINVEST DEV GT CAPITAL 574 575 576 578.5 558 574 134,320 76,369,315 HOUSE OF INV 4 4.03 4.01 4.01 4 4 46,000 184,040 60.5 61 60.5 61 58 61 589,990 35,704,604 JG SUMMIT 5.67 5.77 5.62 5.78 5.62 5.78 2,400 13,808 JOLLIVILLE HLDG KEPPEL HLDG A 4.8 5.48 5.48 5.48 5.48 5.48 200 1,096 0.74 0.75 0.8 0.8 0.72 0.74 2,525,000 1,875,630 LODESTAR 3.22 3.26 3.3 3.3 3.23 3.23 581,000 1,882,200 LOPEZ HLDG 10.84 10.86 11.18 11.18 10.68 10.86 12,858,100 139,818,550 LT GROUP MABUHAY HLDG 0.49 0.495 0.5 0.5 0.48 0.495 1,022,000 504,950 3.66 3.67 3.73 3.73 3.63 3.66 19,589,000 71,897,960 METRO PAC INV 3.5 3.55 3.5 3.5 3.5 3.5 52,000 182,000 PACIFICA HLDG 2.62 2.68 2.8 2.86 2.54 2.62 1,505,000 3,980,480 PRIME MEDIA SOLID GROUP 1.19 1.21 1.21 1.21 1.17 1.17 109,000 129,290 950 951 960 976.5 931 951 361,240 342,922,570 SM INVESTMENTS 112 113 113 114 110 113 226,920 25,435,864 SAN MIGUEL CORP SOC RESOURCES 0.72 0.76 0.73 0.73 0.73 0.73 60,000 43,800 138 139.4 138 139.4 136 139.4 2,090 288,580 TOP FRONTIER 0.265 0.27 0.27 0.27 0.265 0.265 1,560,000 414,100 WELLEX INDUS 0.211 0.213 0.226 0.227 0.2 0.213 12,730,000 2,657,790 ZEUS HLDG

345,460 -101,354,165 -9,898,305 -15,034,281 1,197,250 678 -1,580,670 -1,682,878 4,504,347 806 -23,432,145 -16,379,148 -22,500 -158,700 -76,684,620 -9,038,840 84,690 -11,695,155 -15,341,101 -69,700 19,170

PROPERTY ARTHALAND CORP 0.63 0.65 0.64 0.65 0.63 0.65 825,000 522,470 34.1 34.4 35.1 35.1 34.1 34.1 6,665,200 229,209,175 AYALA LAND ARANETA PROP 1.16 1.17 1.16 1.17 1.16 1.16 192,000 222,900 36.15 36.25 36.15 36.25 35.9 36.15 942,200 33,987,645 AREIT RT 1.4 1.43 1.4 1.43 1.38 1.43 587,000 816,740 BELLE CORP 0.89 0.91 0.89 0.91 0.88 0.9 826,000 734,780 A BROWN CITYLAND DEVT 0.83 0.84 0.87 0.87 0.77 0.83 2,672,000 2,146,310 CROWN EQUITIES 0.127 0.13 0.128 0.13 0.127 0.13 4,220,000 539,650 2.98 3 2.9 3 2.62 3 8,450,000 23,954,440 CEB LANDMASTERS 0.475 0.49 0.495 0.51 0.47 0.49 76,964,000 37,240,610 CENTURY PROP DOUBLEDRAGON 10.86 11 11.04 11.04 10.4 11 1,120,300 11,976,148 DDMP RT 1.93 1.94 1.95 1.96 1.92 1.94 14,311,000 27,674,570 6.97 7 7 7 6.97 7 14,500 101,260 DM WENCESLAO EMPIRE EAST 0.29 0.295 0.29 0.295 0.29 0.295 170,000 49,450 0.415 0.42 0.425 0.435 0.4 0.415 47,260,000 19,596,950 EVER GOTESCO 1.11 1.12 1.13 1.13 1.11 1.12 16,231,000 18,144,210 FILINVEST LAND 0.87 0.9 0.89 0.89 0.87 0.87 526,000 460,060 GLOBAL ESTATE 8990 HLDG 7.14 7.24 7.13 7.3 7.13 7.14 21,600 155,095 1.29 1.3 1.32 1.32 1.28 1.3 1,254,000 1,629,190 PHIL INFRADEV 3.06 4.13 3.06 3.06 3.06 3.06 6,000 18,360 KEPPEL PROP 1.6 1.61 1.52 1.67 1.43 1.61 950,000 1,468,210 CITY AND LAND MEGAWORLD 2.99 3 2.96 3.07 2.84 3 42,091,000 124,632,930 MRC ALLIED 0.36 0.365 0.365 0.365 0.35 0.365 24,640,000 8,816,600 0.59 0.6 0.6 0.61 0.57 0.59 19,774,000 11,626,360 PHIL ESTATES 2.66 2.67 2.71 2.71 2.43 2.66 2,644,000 6,789,080 PRIMEX CORP ROBINSONS LAND 15.32 15.5 16.12 16.12 15.32 15.32 10,172,900 158,894,174 0.32 0.33 0.33 0.335 0.31 0.33 4,680,000 1,494,950 PHIL REALTY 1.52 1.57 1.52 1.57 1.52 1.57 140,000 213,650 ROCKWELL SHANG PROP 2.62 2.65 2.65 2.65 2.65 2.65 5,000 13,250 2.85 2.89 2.82 2.97 2.82 2.86 659,000 1,877,680 STA LUCIA LAND 33.95 34 34.6 34.6 33.6 33.95 8,635,200 293,144,815 SM PRIME HLDG 3.8 3.91 3.91 3.91 3.91 3.91 3,000 11,730 VISTAMALLS SUNTRUST HOME 1.56 1.57 1.56 1.59 1.56 1.57 168,000 262,180 3.58 3.65 3.58 3.62 3.5 3.58 2,756,000 9,757,800 VISTA LAND SERVICES ABS CBN 11.52 11.6 11.76 11.76 11.24 11.52 339,300 3,897,478 12.4 12.42 12.5 12.96 11.66 12.42 5,167,800 63,275,460 GMA NETWORK MANILA BULLETIN 0.415 0.425 0.425 0.43 0.425 0.425 120,000 51,050 1,920 1,930 1,936 1,936 1,870 1,930 41,300 78,953,870 GLOBE TELECOM 1,287 1,299 1,290 1,299 1,265 1,299 40,420 51,891,820 PLDT 0.151 0.152 0.159 0.16 0.14 0.152 390,060,000 59,091,740 APOLLO GLOBAL CONVERGE 23.5 23.6 22.8 23.9 22.7 23.5 5,503,800 128,160,775 DFNN INC 4.06 4.2 4.21 4.32 4 4.22 949,000 3,994,750 8.02 8.03 8.1 8.15 7.65 8.02 15,991,500 126,568,843 DITO CME HLDG 2.08 2.16 2.05 2.18 2.04 2.18 22,000 45,890 JACKSTONES NOW CORP 2.28 2.29 2.31 2.31 2.27 2.28 1,686,000 3,849,580 TRANSPACIFIC BR 0.425 0.43 0.45 0.45 0.41 0.43 23,130,000 9,967,650 2.3 2.32 2.38 2.38 2.28 2.33 433,000 995,120 PHILWEB 2GO GROUP 8.29 8.3 8.42 8.42 8.29 8.29 16,200 135,911 14.4 14.5 14.76 14.76 14.38 14.4 42,400 615,158 ASIAN TERMINALS 2.9 2.91 2.99 2.99 2.87 2.9 768,000 2,239,870 CHELSEA 45.9 46.05 46 46.05 45.8 45.9 132,400 6,083,830 CEBU AIR INTL CONTAINER 158.5 159 162.5 162.8 155 159 992,480 157,254,538 LBC EXPRESS 17.18 17.84 17.92 17.92 17.18 17.18 4,000 68,966 0.98 0.99 1 1 0.99 0.99 499,000 498,860 LORENZO SHIPPNG 4.65 4.66 4.7 4.88 4.61 4.65 2,425,000 11,415,190 MACROASIA METROALLIANCE A 1.98 2.1 1.97 2.05 1.96 2.05 378,000 748,940 1.99 2.22 2 2 1.98 1.98 16,000 31,880 METROALLIANCE B 1.16 1.18 1.2 1.23 1.15 1.17 619,000 722,230 HARBOR STAR 2.22 2.32 2.11 2.5 2.1 2.22 3,354,000 7,733,530 ACESITE HOTEL BOULEVARD HLDG 0.129 0.13 0.123 0.131 0.118 0.129 290,510,000 36,040,010 2.7 2.72 2.78 3 2.7 2.72 563,000 1,670,880 DISCOVERY WORLD 0.54 0.55 0.54 0.56 0.53 0.54 2,889,000 1,561,440 WATERFRONT CENTRO ESCOLAR 6.49 6.93 6.49 6.49 6.49 6.49 2,000 12,980 FAR EASTERN U 565 629.5 565 565 565 565 320 180,800 0.35 0.36 0.37 0.37 0.36 0.36 12,500,000 4,510,950 STI HLDG 5.37 5.5 5.41 5.5 5.37 5.5 19,400 104,836 BERJAYA BLOOMBERRY 6.08 6.16 6.41 6.41 6.08 6.08 8,977,300 55,296,613 LEISURE AND RES 1.56 1.57 1.57 1.57 1.55 1.57 826,000 1,293,700 1.77 1.78 1.77 1.81 1.72 1.78 1,116,000 1,958,120 PH RESORTS GRP 0.42 0.425 0.42 0.42 0.41 0.42 8,200,000 3,416,550 PREMIUM LEISURE PHIL RACING 5.8 5.95 5.8 5.8 5.8 5.8 1,000 5,800 7.7 7.74 7.65 7.85 7.5 7.7 1,314,100 10,083,757 ALLHOME 1.35 1.36 1.37 1.37 1.34 1.36 1,457,000 1,979,510 METRO RETAIL PUREGOLD 38.6 38.8 38.5 38.85 37.3 38.8 1,778,600 68,108,955 ROBINSONS RTL 52.4 52.9 52.6 52.9 51 52.9 530,130 27,592,479 93.2 94 97.5 97.5 94 94 5,090 478,986 PHIL SEVEN CORP 1.26 1.27 1.2 1.27 1.2 1.26 7,381,000 9,094,270 SSI GROUP WILCON DEPOT 20.2 20.25 20.8 21.05 19.8 20.2 1,954,100 39,936,899 APC GROUP 0.365 0.37 0.39 0.39 0.37 0.37 1,450,000 537,400 5.85 6 5.91 5.91 5.85 5.85 13,800 81,178 EASYCALL 437.4 448 448 448 448 448 20 8,960 GOLDEN MV IPM HLDG 6.23 6.49 6.2 6.2 6.2 6.2 8,000 49,600 1.45 1.46 1.48 1.48 1.38 1.45 18,856,000 26,892,880 PRMIERE HORIZON 4.6 4.68 4.51 4.7 4.51 4.6 517,000 2,352,930 SBS PHIL CORP

1,260 -44,204,940 10,681,270 28,000 8,900 37,500 14,820 363,310 -99,390 -2,746,276.00 7,016,260 345,400 -547,220 -88,000 130,000 -20,260 -17,406,950 410,950 310,710.00 3,731,140 14,032,876 -19,100 9,120 0 -36,660 -48,468,995 -1,992,660 -19,338,390 -2,052,655 1,470,580 81,589,535 5,168,711 -204,570 589,750 163,210 -115,412 -17,340 -1,659,470 -3,251,919 334,900 -94,400 -100,670 -1,208,250 -27,200 -109,620 12,980 -3,395,500 -13,282,426 28,000 58,700 7,399,131 -91,800 -3,858,980 -11,782,127.50 -381,861 133,730 -1,989,423 694,030 -

MINING & OIL ATOK 7.51 7.57 7.81 7.81 7.5 7.57 269,300 2,027,660 -17,165 APEX MINING 1.62 1.63 1.64 1.65 1.6 1.62 2,516,000 4,072,100 456,590 ATLAS MINING 5.86 5.87 5.98 5.98 5.82 5.86 928,100 5,478,680 -290,727 Bond Funds 5.13 5.34 5.76 5.76 5.12 5.34 187,900 979,011 BENGUET A Primarily invested in Peso securities 5 5.27 5.45 5.45 5 5 58,200 291,425 187,500 BENGUET B COAL ASIA HLDG 0.295 0.3 0.295 0.3 0.295 0.295 190,000 56,250 ALFM Peso Bond Fund, Inc. -a 372.53 1.54% 3.17% 2.44% 0.39% 2.82 2.86 2.82 2.82 2.82 2.82 65,000 183,300 95,880 CENTURY PEAK ATRAM Corporate Bond Fund, Inc. -a 1.9232 -1.08% 1.02% 0.22% 1.21% 6.32 6.4 6.45 6.45 6.32 6.32 24,100 152,453 DIZON MINES 2.47 2.54 2.45 2.55 2.41 2.54 3,404,000 8,437,810 644,560 FERRONICKEL Cocolife Fixed Income Fund, Inc. -a 3.2326 1.16% 3.69% 4.28% 0.56% GEOGRACE 0.3 0.31 0.31 0.31 0.3 0.3 1,340,000 407,600 A 0.153 0.154 0.156 0.156 0.151 0.153 22,430,000 3,428,150 LEPANTO Ekklesia Mutual Fund Inc. -a 2.2676 -1.63% 2.29% 1.36% -1.24% 0.157 0.158 0.158 0.16 0.157 0.16 1,740,000 273,940 LEPANTO B First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4425 -0.46% 3.3% 1.67% -0.44% MANILA MINING A 0.01 0.011 0.011 0.011 0.01 0.011 51,000,000 514,300 0.011 0.012 0.011 0.012 0.011 0.012 36,100,000 397,200 MANILA MINING B Philam Bond Fund, Inc. -a 4.501 -3.17% 4.53% 1.29% -2.88% 1.22 1.23 1.17 1.25 1.15 1.22 1,111,000 1,316,960 120,000 MARCVENTURES 1.31 1.36 1.31 1.39 1.26 1.36 524,000 680,300 NIHAO Philam Managed Income Fund, Inc. -a,6 1.3168 1.18% 4% 2.68% -0.33% NICKEL ASIA 5.45 5.46 5.39 5.63 5.32 5.45 8,956,900 48,948,292 9,912,336 Philequity Peso Bond Fund, Inc. -a 3.9814 0.47% 4.49% 2.17% -0.49% OMICO CORP 0.38 0.39 0.395 0.395 0.39 0.39 500,000 195,200 -187,300 0.91 0.95 0.99 0.99 0.89 0.92 4,262,000 3,948,090 35,290 ORNTL PENINSULA Soldivo Bond Fund, Inc. -a 1.0352 -0.46% 4.73% 1.51% -0.65% 6.06 6.12 6.2 6.21 6.05 6.06 1,479,100 9,102,951 -184,817 PX MINING Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2142 1.09% 5.31% 2.33% 0.26% SEMIRARA MINING 16.5 16.7 16.8 16.8 15.32 16.7 4,944,700 80,692,332 17,441,170 UNITED PARAGON 0.0089 0.009 0.0092 0.0095 0.0089 0.0089 231,000,000 2,080,800 45,000 Sun Life Prosperity GS Fund, Inc. -a 1.7494 0.21% 4.6% 1.68% -0.32% 17.2 17.5 17.52 17.52 17.1 17.5 156,400 2,696,766 3,460 ACE ENEXOR 0.011 0.012 0.012 0.012 0.011 0.012 127,300,000 1,522,200 ORNTL PETROL A Primarily invested in foreign currency securities ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 5,200,000 62,400 -62,400 ALFM Dollar Bond Fund, Inc. -a $486.59 2.41% 3.15% 2.18% 0.56% 0.011 0.012 0.011 0.011 0.011 0.011 90,000,000 990,000 PHILODRILL 7.3 7.35 7.5 7.52 7.2 7.35 226,500 1,662,270 -266,723 PXP ENERGY ALFM Euro Bond Fund, Inc. -a Є220.16 2.04% 1.06% 0.96% 0.45% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1998 -2.11% 2.49% 1.3% -6.29% PREFFERED HOUSE PREF B 100.5 101.6 100.5 100.5 100.5 100.5 990 99,495 -99,495 First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0% 1.85% 0.86% -1.88% 100.8 101 100.8 101 100.8 101 10,000 1,008,660 HOUSE PREF A ALCO PREF B 102.5 103.5 103.5 103.5 103.5 103.5 1,930 199,755 PAMI Global Bond Fund, Inc -b $1.0551 -1.71% 0.65% -0.85% -3.44% 523 530 523 523 523 523 100 52,300 AC PREF B2R Philam Dollar Bond Fund, Inc. -a $2.5171 2.38% 5.13% 1.86% -0.73% 45.1 46 45.2 46 45 45.1 139,600 6,304,820 -247,805 CEB PREF 102 104 102 104 102 104 200 20,600 CPG PREF A Philequity Dollar Income Fund Inc. -a $0.0630251 3.89% 3.57% 2.14% 1.13% DD PREF 100.9 101 100.9 101.5 100.9 101.5 230 23,279 -10,090 FGEN PREF G 105 105.6 105.6 105.6 105.6 105.6 2,040 215,424 Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1904 -0.18% 3.42% 0.79% -1.03% 505 516 505 505 505 505 1,600 808,000 GLO PREF P Money Market Funds 1,020 1,045 1,020 1,020 1,020 1,020 50 51,000 GTCAP PREF B MWIDE PREF 101 101.2 101.2 101.2 101.2 101.2 19,440 1,967,328 Primarily invested in Peso securities 100.5 102 101.8 101.8 100.5 100.5 20,500 2,063,085 101,000 MWIDE PREF 2B ALFM Money Market Fund, Inc. -a 130.34 1.48% 3% 2.53% 0.41% 105 106 106 106 105 106 3,460 366,226 PNX PREF 3B PNX PREF 4 1,005 1,007 1,005 1,006 1,004 1,006 790 794,385 First Metro Save and Learn Money Market Fund, Inc. -a 1.0536 1.06% n.a. n.a. 0.52% 1,082 1,112 1,112 1,112 1,110 1,110 240 266,480 222,000 PCOR PREF 3A 1,155 1,165 1,165 1,165 1,165 1,165 10 11,650 PCOR PREF 3B Sun Life Prosperity Money Market Fund, Inc. -a 1.3061 2.82% 2.55% 0.73% 1.67% 78.8 78.85 79 79 78.8 78.85 26,190 2,065,269.50 -300,860 SMC PREF 2C Primarily invested in foreign currency securities SMC PREF 2F 78.8 79.4 78.8 78.8 78.75 78.8 25,830 2,035,393 -1,063,800 SMC PREF 2H 76.8 76.95 76.95 76.95 76.95 76.95 10,640 818,748 Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0579 1.16% 1.65% n.a. 0.52% 78.05 78.25 78.1 78.1 78.1 78.1 1,000 78,100 SMC PREF 2I Feeder Funds 76.45 76.5 76.45 76.45 76.45 76.45 10,060 769,087 - SMC PREF 2K Primarily invested in Peso securities PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.36 12 11.36 11.36 11.36 11.36 2,800 31,808 -9,088 Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3217 30.73% n.a. n.a. 17.01% 11.42 11.5 11.82 11.82 11 11.42 307,100 3,506,490 11,470 GMA HLDG PDR Primarily invested in foreign currency securities WARRANTS ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 5.32% n.a. n.a. 1.02% LR WARRANT 1.35 1.36 1.4 1.4 1.29 1.35 582,000 779,490 -13,400 SMALL & MEDIUM ENTERPRISES a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). ALTUS PROP 16.56 16.6 16.74 16.74 16.56 16.6 88,200 1,467,950 133,120 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 2.26 2.27 2.32 2.32 2.2 2.27 624,000 1,413,760 ITALPINAS KEPWEALTH 4.9 5.18 6.4 6.4 4.81 5.18 42,000 228,430 -760 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. MERRYMART 3.74 3.75 3.81 3.83 3.52 3.74 11,341,000 41,533,980 1,252,260 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the EXHANGE TRADE FUNDS FIRST METRO ETF 100 100.8 101.3 101.5 100 100 39,780 4,010,842 16,891 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

Entrepreneur

Japan and ILO project brings aid to MSMEs By Samuel P. Medenilla @sam_medenilla

ver 10,000 pandemic-hit micro, small and medium enterprises (MSMEs) will benefit from the new $2.2 million joint project of the International Labor Organization (ILO) and the government of Japan. Under its Bringing Back Jobs Safely Under the Covid-19 crisis in the Philippines: Rebooting small and informal businesses safely and digitally, ILO aims to allow vulnerable entrepreneurs cope with the socioeconomic disruption caused by the pandemic through capacity building. The project, funded by the Japanese government, will cover over 200 trainers, who will be tasked in training 10,000 to 20,000 entrepreneurs nationwide. “Enterprises and workers in hardhit sectors are struggling. Some are barely surviving while others have stopped operations. Urgent measures are critical to support them in dealing with the impact of Covid-19, and to build back better and safer. We need to also help people access safe and decent jobs in their own town,” ILO Country Office for the Philippines Director Khalid Hassan said in a news statement. During his online presentation last Thursday, ILO Enterprise Development Specialist Hideki Kagohashi explained the program would focus on helping MSMEs comply with occupational safety and health (OSH) through a development approach. He also said the project will have a component to help in the digitalization of the operations of MSMEs and informal sector members to allow them to efficiently operate despite existing quarantine restrictions. To cascade the effects of the program to the 1.4 million registered MSMEs nationwide, Kagohashi said they would also be mounting a nationwide advocacy campaign in cooperation with concerned government agencies. He added they would also be tapping the “innovation hubs” of the Department of Information and Communications Technology (DICT) for this purpose. The project is also expected to supplement the government’s Balik Probinsiya, Bagong Pag-asa (Return to Province with New Hope) program since it will focus on beneficiaries on cities and provinces outside of Metro Manila, which were affected by the pandemic, according to Kagohashi. The project was launched last month and will last until June 2022.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, July 21, 2021 B3

What pairs with beetle? Start-ups seek to make bugs, crickets tasty

By Kelvin Chan | The Associated Press

Kees Aarts, CEO of Dutch insect farming company Protix, inspects a tray of black soldier fly larvae at the company’s facility in Bergen Op Zoom, Netherlands on Monday, June 28, 2021. While insects are commonly eaten in parts of Asia and Africa, they’re increasingly seen as a viable food source in the West as Earth’s growing population puts more pressure on global food production. Experts say they’re rich in protein, yet can be raised much more sustainably than beef or pork. Regulatory change has also made things easier for European companies looking to market insects directly to consumers. AP

Costanzo, who also bemoaned postBrexit government red tape that’s leaving small UK edible insect entrepreneurs in limbo. Antoine Hubert, CEO of France’s Ynsect, says the most lucrative opportunity will come from the sports and health nutrition markets for its mealworm-based protein powder. The company also makes insect protein for fish feed that Hubert said helps farmed salmon grow bigger and faster while reducing the need for fishmeal—smaller fish caught in huge quantities—which helps improve the ocean’s biodiversity. Investors including Hollywood star Robert Downey Jr.’s FootPrint Coalition were among the backers contributing to Ynsect’s latest round of funding worth $224 million. The money will fund a vertical farm north of Paris that it says will be one of the world’s biggest when it’s completed next year, capable of producing 100,000 tons year of commercial mealworm products, as

though they warned of possible reactions in people allergic to crustaceans or dust mites. Regulators issued another positive opinion this month for grasshoppers, based on an application from Protix, a Netherlands-based insect farming company. “Our vision is that insects will go from niche to normal,” said Protix CEO Kees Aarts, who predicted an “explosion of food applications” to EU regulators. At Protix’s state-of-the-art vertical farm in Bergen op Zoom, green plastic crates stacked in towering columns are filled with wriggling black soldier fly larvae. The high-tech facility turns the larvae into protein meal and oil for use in fish feed and pet food. The company also has a line of bug-based snacks and ingredients like cinnamon mealworms and cricket protein falafel mix and, after getting final approval, plans to market frozen, dried or powdered grasshoppers as an ingredient for breakfast cereals, pasta, baked goods, sauces and imitation meat. In London, Di Costanzo’s Horizon Insects is developing an insect-based cooking ingredient after discovering that there wasn’t much of a local market for the fresh edible mealworms they were selling. Di Costanzo says the cricket powder she uses in her pizza gives it “a

well as expansion in North America, where it plans to build another farm in the US and apply for FDA approval for its food products. Downey Jr. has been promoting the benefits of mealworm powder, supplying a tub of it to talk show host Stephen Colbert. “I could put this in a smoothie or something?” Colbert asked. “You’ll be making all kinds of stuff out of it,” Downey Jr. replied.

ONDON—Tiziana Di Costanzo makes pizza dough from scratch, mixing together flour, yeast, a pinch of salt, a dash of olive oil and something a bit more unusual—ground acheta domesticus, better known as cricket powder. Di Costanzo is an edible insect entrepreneur who holds cricket and mealworm cooking classes at her West London home, where she also raises the critters in a backyard shed with her husband, Tom Mohan. Her start-up, Horizon Insects, is part of Europe’s nascent edible insect scene, which features dozens of bug-based businesses offering cricket chips in the Czech Republic, bug burgers in Germany and Belgian beetle beer. The European Union headquarters in Brussels is also backing research into insectbased proteins as part of a broader sustainable food strategy. As the Earth’s growing population puts more pressure on global food production, insects are increasingly seen as a viable food source. Experts say they’re rich in protein, yet can be raised much more sustainably than beef or pork. Around the world, 2 billion people in 130 countries eat insects regularly. The global edible insect market is poised to boom, according to investment bank Barclay’s, citing data from Meticulous Research that forecasts it will grow from less than $1 billion in 2019 to $8 billion by 2030. But despite all the European start-ups working to make insects appetizing, don’t expect them to start appearing at mainstream restaurants or on dinner tables just yet. One big reason is a strong cultural “yuck” factor in Western countries that Arnold van Huis, a professor of tropical entomologist at Wageningen University in the Netherlands, says will be hard to change. “It’s very difficult to turn people’s minds around but insects are absolutely safe to eat, maybe even more nutritious than meat products,” with the only risk coming from allergies, because insects are

closely related to crustaceans like shrimp, van Huis said. Instead, humans may end up eating more insects indirectly because the market that shows the most promise is for feeding animals. The EU approved insect protein as feed for fish farming in 2017. The US Food and Drug Administration approved it for chicken feed in 2018, while EU approval for poultry and pigs is due later this year. Regulatory change has also made things easier for European companies looking to market insects directly to consumers. The EU didn’t previously govern edible insects because they weren’t considered food, leaving individual countries to impose their own rules. To bring rules in line across countries, the EU in 2018 launched a directive that covers insects but requires approvals for individual species, paving the way for a wave of authorizations. European production of insectbased food products is forecast to mushroom from 500 metric tons currently to 260,000 metric tons by 2030, according to the International Platform of Insects for Food and Feed, a Brussels-based lobby group. Still, it’s dwarfed by the 22.8 million metric tons of pork or 13.4 million tons of chicken that the EU produces annually. Insects require a tenth of the land, account for a fraction of greenhouse gas or ammonia emissions and need much less water than cattle or pigs, van Huis said. The first approval came earlier this year for Tenebrio molitor larva, or dried yellow mealworm, after an application from French insect farm Micronutris. The EU Commission’s food safety regulators said in a scientific opinion that mealworms are safe to eat,

Tiziana di Costanzo, co-founder of Horizon Insects, holds up a slice of pizza made with cricket powder, in her London kitchen on Wednesday, June 2, 2021. AP

very nice, meaty, healthy taste,” while boosting the nutritional content with protein, macronutrients and omega acids. Mealworm burgers, meanwhile, are “tasty and very easy to make,” and powdered mealworms have a mild taste that allows them to be incorporated into cakes, bread and pasta. “Definitely, I think the future is products made with insects rather than the actual insect,” said Di

Iloilo women farm workers earn extra money through creative art Portal launched to assist first-time entreps build their dream businesses I By Perla Lena

Philippine News Agency

LOILO CITY—This health pandemic has brought an opportunity for women farmers of Barangay Caninguan, Lambunao to be creative and earn from their hand-painted tote bags and paintings. “Our target was to do creative recovery mainly focusing on women farm folks in Barangay Caninguan,” said Raz Salvarita, an Ilonggo artist who co-founded the Baryo Balangaw Creative Initiatives in December last year. Baryo Balangaw Creative Initiatives is a group that focuses on “bridging creativity in rural communities.” Salvarita, in an interview last Friday, July 16,2021, said that they were able to avail of funding under the “Staying Resilient Amid the Pandemic in Southeast Asia Small Grants Program” of the SEA (Southeast Asia) Junction, a non-profit organization based in Bangkok, Thailand for them to be able to pursue a workshop with women farmers in the barangay. “We started with the four-day workshop in December, basically creating a space for women to come and also to have a sense of safe space to do their creativity,” he said. At the start, there were 32 women participants but 22 dropped out. Ten stayed composed of a barangay health worker, vendors, and vegetable farmers, and were com-

Selected women from Barangay Caninguan, Lambunao, Iloilo try their hands on painting. Raz Salvarita (not in photo), cofounder of the Baryo Balangaw Creative Initiatives that introduced the project, said in an interview on Friday, July 16, 2021, that they were able to inspire women to pursue creative works while engaging in other livelihood activities. Photo courtesy of Raz Salvarita/Baryo Balangaw Creative Initiatives

mitted to pursue the social entrepreneur program on making tote bags and paintings, Salvarita added. Since it’s the first time for some to paint, Salvarita and his partner Elle Divine taught them how to do it, as well as helped them with product development ideas so they can come up with their own original designs. They also attended webinars for further exposure. He said that they focused on kindness as the theme of their design to promote compassion amid this pandemic. From January to February this year, they worked on their tote bags and paintings. They were able to

come up with 40 pieces of tote bags, 10 paintings, and 10 fiber self-portrait artworks. Each bag costs between P1,200 to P1,500 and paintings were sold at P4,000. They were sold as far as Manila and United States. Seventy percent of the price of the painting goes to the artist while 30 percent to the group. For the tote bags, a percentage goes to each crafter while the remaining amount is divided to allocate for materials and their collective money, Salvarita added. “We have given them the inspiration to think that aside from their skills in livelihood, they can actually pursue creative work and feel relaxed doing their work,” he said. Currently, the same group is working on more bags and paintings, this time with the plastic-free and animals that are being protected at the Mariit Wildlife and Conservation Park in Barangay Jayobo, Lambunao, Iloilo as their focus. He added that they would like to sustain the group and eventually also involve other barangays. “We focus on this pilot group because later on we can develop their skills and become facilitators with other barangays and with other organizations that are interested to invite us,” he said. Later on, the group would like to work with young people and also involve men and not just women. Meantime, those who are interested to order may get in touch with the group through instagram@ baryobalangaw or their Facebook page Baryo Balangaw Creative Initiatives.

By Roderick L. Abad Contributor

@rodrik_28

O help educate and provide easy access to needed details on business registration and compliances, Bizhub Philippines has created a portal for the ultimate source of information for enterprising individuals wanting to start a business. “The first step to starting your business is going through the business registration process, which is no easy feat as it requires a lot of paperwork, preparation and research,” said Aldrin Enrile, general manager of Bizhub Philippines. “With information at a click, or touch away, entrepreneurs should be able to access information on the Internet to keep their business on track,” he said, adding they maintain dedicated sections to help one determine the right type of business registration suitable for any individual or group seeking to register their entities. “We have a calendar of reminders of their submissions and even free learning events which can help improve their

skills,” Enrile noted. Bizhub has tied up with several companies, law firms, an accounting firm, digital marketing and a bank to serve the needs of its growing clientele. According to a survey conducted by the company’s client solutions managers among 50 first-time business owners, lack of knowledge and proper dissemination of information on business registration and the responsibilities that come after it are the common problems among entrepreneurs. The study, likewise, showed that six out of 10 first-time business owners assumed that if a company does not generate any income for the month, it does not need to submit its monthly report to the Bureau of Internal Revenue. “Entrepreneurs get too excited when they have a grand business plan. Their first hurdle is to register their business. But as soon as they get their permit, they think they’re good to go. Start-ups with little knowledge on compliances are not aware of the reports they have to submit to government agencies,” Enrile said.

Banking&Finance BusinessMirror

Wednesday, July 21, 2021 • Editor: Dennis D. Estopace

Schools facing ‘onerous’ tax rate urge corrective actions

By Bernadette D. Nicolas

@BNicolasBM

RIVATE schools are asking President Duterte to endorse in his last State of the Nation Address (SONA) the “corrective” legislative measures to avert the imposition of a 150-percent hike on their corporate income tax they describe as “onerous.” Lawyer Joseph Noel M. Estrada, managing director of the Coordinating Council of Private Educational Associations (Cocopea), urged the President to certify as urgent House Bill (HB) 9596 and Senate Bill (SB) 2272 to clarify the tax rates that should be imposed on educational institutions. “In particular, we hope the President calls on Congress to put on high priority HB 9596 and SB

2272, which seek to finally put to rest the conflicting interpretations on the applicable tax rates for proprietary educational institutions and in a manner that allows these institutions to further avail of the lifeline extended by the Create Act (Republic Act 11534) in the form of reduced rate of 1 percent from July 1, 2020 to June 30, 2023,” Estrada said through a statement. If these bills were not certified

Awaiting NGCP’s IPO

OULDN’T you want to invest in a very profitable company that enjoys monopoly through a government franchise lasting 25 years? Wouldn’t you buy their IPO (initial public offering) shares as they become available? As Sen. Ana Theresia “Risa” N. Hontiveros has pointed out in a February 10 Senate hearing, this company has paid out P187.8 billion in dividends to their three shareholders, in just ten years of their 25-year franchise, even exceeding the P168.9 billion total amount of concession fees the government would collect to the end of the franchise in 2034. That company is the National Grid Corp. of the Philippines (NGCP), the monopoly in the power transmission sector. Under its franchise (Republic Act 9511, Section 8) it is required to undertake, within 10 years from start of its operations, a public offering of its shares so that at least 20 percent of outstanding shares are shared and participated in by the public. This

Finex free enterprise Santiago F. Dumlao Jr. follows the national policy to “encourage the widest participation of ownership in enterprises, enhance the democratization of wealth, promote the development of the capital market…” (Section 2, Securities Regulation Code). This IPO by NGCP, which the public eagerly awaits, has been long delayed because the company received its franchise on December 1, 2008; and so the IPO should have been undertaken already in 2018. Various reasons have been presented for the delay. But the Energy Regulation Commission (ERC), after NGCP’s motions for reconsideration, finally ruled on March 10, 2021: “NGCP is hereby DIRECTED to complete its compliance with the IPO require-

as urgent, Cocopea warned that the Bureau of Internal Revenue (BIR) Revenue Regulation 5-2021 will increase the tax rate on private schools to 25 percent from 10 percent, which has been in effect since 1968, instead of reducing it to 1 percent under the Corporate Recovery and Tax Incentives for Enterprises Act (Create) law. “This would add a heavy additional burden and …seriously harm the many stakeholders of the private education sector, at a time when it is already fighting for survival amidst the pandemic,” the Cocopea statement read. “Many individuals will be directly affected by this government policy, such as the academic, athletic, working students and need-based scholars, and faculty and staff.” Estrada said the President’s influence over lawmakers is crucial in pushing for these measures in the remainder of the 18th Congress. Cocopea noted that Finance Secretary Carlos G. Dominguez III has expressed several times that it fully

supports the passage of the proposed bills to clarify this urgent matter once and for all. Dominguez’s position was echoed by BIR Deputy Commissioner Marissa O. Cabreros at the House Committee on Ways and Means hearing last June 14 and was reiterated by Finance Assistant Secretary Dakila Elteen M. Napao at the Senate hearing last June 29. “We therefore reiterate our call for expedient corrective action, through administrative or legislative enactment, as the private education sector is now in a very critical period of evaluating its capability to sustain its operations as school opening nears,” the Cocopea said. Last month, the legal team of private education stakeholders filed a petition for certiorari and prohibition, with application for temporary restraining order and injunction to stop the implementation of BIR’s RR 5-2021. Among the petitioners are Cocopea and 27 proprietary educational institutions from all over the country.

ments until the successful listing thereof within six months from receipt of this order.” This would be a welcome development for us public investors as we expect this to happen year 2021. And who have been the favored NGCP investors so far? Extremely limited and very exclusive. The ownership of NGCP is shared among just three: 1. Monte Oro Grid Resources Corp. (30 percent + 1 share); owned 100 percent by One Taipan Holdings Inc., which is, in turn, 100-percent owned by Henry T. Sy Jr. 2. Calaca High Power Corp. (30 percent + 1 share); 100-percent owned by Pacifica 21 Holdings Inc., which is in turn 68.33 percent owned by Robert G. Coyiuto Jr. 3. State Grid International Development Ltd. of China (40 percent). These are the principal beneficiaries of these generous dividends. We could all share in their prosperity when the IPO happens this year. But wait. There is some plan to do a share swap between, on the

one hand, One Taipan and Pacifica 21 and, on the other hand, Synergy Grid and Development Phils. (SGP), a company listed at the Philippine Stock Exchange owned by Henry T. Sy Jr. (44.5 percent) and Robert Coyiuto Jr. (34 percent). It’s a kind of back-door listing that aims to be a substitute compliance for an NGCP listing. It’s a fancy layering of corporate ownership. Without going to detailed explanation, what would result is that NGCP shares will not be sold to the public through an IPO. It’s going to be a mockery of the intent of the government’s “democratization of wealth” policy and that of the franchise, through a back-door listing arrangement that raises a lot of questions. Can’t the investing public share a bit of the largesse from NGCP’s monopoly? Santiago F. Dumlao Jr. past president of the Finex, is the current Secretary-General of the Association of Credit Rating Agencies in Asia. His views here, however, do not necessarily reflect those of Finex and the BusinessMirror.

www.businessmirror.com.ph

France endows RBAP ₧47.9M for digitization By Cai U. Ordinario

@caiordinario

HE French government has extended a grant of P47.9 million (about $943,839.80 at current exchange rates) to the Rural Bankers Association of the Philippines (RBAP) to support the digital transformation of rural banks. The Agence Française de Développement (AFD or French Development Agency) said the grant will fund the training, capacity-building and communication and awareness-raising activities. This will support the digital transition of core banking systems to the cloud, a statement by the AFD read. The AFD said it hopes the move will further boost financial inclusion in the country. “France is proud to support, through AFD, [the] strategic reforms of the Government of the Philippines in digital transformation and inclusion in the financial sector to the benefit of the Filipino people,” French Ambassador to the Philippines Michèle Boccoz was quoted in a statement as saying. “We believe that this program through the AFD and RBAP partnership will help pave the way to resilience and recovery, especially of disadvantaged Filipinos in the rural areas,” Boccoz added. The AFD said the technical assistance is provided within the framework of the global public policy reform of the financial inclusion sector in the Philippines and the implementation of the Inclusive Finance Development program (IFDP).

Inclusive growth

THE IFDP contributes to the overall objective of inclusive growth and sustainable development of the Republic of the Philippines by supporting the development of financial inclusion of the population, especially the poor and the rural population. This is done through the consolidation of the institutional and regulatory environment and the improvement of financial infrastructures and the capacity building of financial services providers, supervisors, and regulators. The AFD and the Asian Development Bank (ADB) have been supporting this program since 2019 through a 100-million euro sovereign loan (about P5.977 billion) to the Government of the Philippines. RBAP President Elizabeth CarlosTimbol was quoted in the statement as expressing gratitude “for the sup-

port and trust that AFD has given to our association. Timbol said one of her goals as RBAP president for fiscal year 2020 to 2021 “is to help rural banks, especially the small ones, to digitize and capacitate them through different programs.” “Through this partnership, this goal is finally realized,” she added. Timbol said the association is looking forward “to working with AFD to create capacity building programs tailor-fitted to the needs of the rural banks for us to be able to compete at par excellence with the other financial institutions in the country.”

Unique position

LAURENT Klein, AFD country director in the Philippines, said rural banks are in a unique position to extend much-needed financial services in the countryside. Through the partnership with RBAP, Klein said, it is AFD’s aim to support financial systems “and fight social and economic inequalities.” Boccoz said the technical cooperation is a milestone in the bilateral relationship between Manila and Paris. She added that the Covid-19 pandemic has disrupted societies and has led the French government to “consider radical shifts” their “usual modes of economic and social interactions.” “This technical assistance will contribute to promote access to quality digital financial services for all, including the most vulnerable part of the population. This agreement also marks a major step forward in our collaboration with the ADB to support inclusive finance in the Philippines,” Klein said. Data from the National Economic and Development Authority (Neda) showed that Official Development Assistance received by the country from the French government amounted to $147.44 million or 0.68 percent of the total ODA for the Philippines. Neda data showed that as of December 2019, the French ODA is composed of two loans worth $142.22 million and three grants worth $5.22 million. In 2019, the country received a total of $21.62 billion in ODA commitments. This is composed of 268 grants and 84 loans. Total grants amounted to $1.64 billion while total loans reached $19.976 billion in 2019.

Tougher protection for OFW Lender sees borrower uptick as Pinoys start buying more remittances under way By Bianca Cuaresma @BcuaresmaBM

By Butch Fernandez @butchfBM

HE Senate Committees on Banks, Financial Institutions and Currencies and on Labor, Employment and Human Resources Development are holding a virtual joint hearing on July 22 to fine-tune a remedial legislation updating safeguards to protect over $30-billion annual remittances and money transfers sent home by overseas Filipino workers (OFWs). This, as Senator Grace L. Poe, Banks Committee chairman, pressed for “heightened protection for OFW remittances and money transfers.” Poe pointed out that financial institutions, including banks and money transfer companies, as well as State regulators should “do more to protect the remittances of overseas Filipino workers. She cited the findings of the latest Consumer Expectations Survey of the Bangko Sentral ng Pilipinas (BSP) that 96 percent of households that receive remittances spend it on food and other needs.

The Senator emphasized that these remittances are “crucial to the survival of families of OFWs and play an important role in the economy as a whole.” Poe also reminded that “their steady flow into the country softens the destabilizing impact of hemorrhaging foreign investments and outflows from the payment of foreign debt.” Poe added that BSP data also showed remittances of OFWs brought home $30.1 billion in 2019. And “despite the blow” from the deadly virus contagion that Covid-19 dealt on the global economy, she noted that remittances in 2020 only dipped slightly to $29.9 billion. At the same time, she reminded that “it is imperative that we protect our people’s money,” adding “it is not just the remittances of OFWs coming from abroad that we must protect but local money transfers as well.” Moreover, Poe recalls that since the pandemic, “more people have to rely on remittances and money transfers from family members and other relatives to cope with heightened difficulties.”

OCAL consumer financing company Home Credit expects loans to pick up in the remaining months of the year as more and more Filipinos adjust to life’s new normal from the global health crisis. In a statement, Home Credit noted that malls’ foot traffic are starting to increase as lockdown measures and local cases start to “stabilize.” This, the company said, indicates increased spending and a bounce back of loans within the year.

“We definitely see more people in malls, and more people making purchases and loans for their families’ needs,” said David Minol, chief executive officer of Home Credit. “It is another encouraging sign that people are gradually recovering from what was a very challenging year for us all.” Just last month, the Bangko Sentral ng Pilipinas (BSP) reported that bank lending continued to contract in May, albeit at a slower pace from April contraction. In particular, bank lending declined by 4 percent in May. This is slower than the 5 percent contraction recorded in the previous month.

In particular, consumer loans fell by 9.2 percent in May following a 10.2-percent decrease in April as motor vehicle loans and salary-based consumption loans continued to decline. According to Minol, at the mid-point of 2021 Home Credit has so far seen a rise in loan volume and served customers compared to 2020. Minol noted that Home Credit’s best-selling commodity for financing in 2021 remains to be smartphones, with TVs, refrigerators, laptops and sporting equipment completing the top five list. Air conditioners were also an indemand commodity especially during

summer, as Home Credit saw a 125 percent increase in sales of cooling products. “The demand was there even during the peak of lockdowns, but with malls closed and people staying safely at home, not to mention the economic challenges of the pandemic, our expectations were tempered as we prioritized the safety of our customers and employees,” Minol said. “But with the majority of our partner stores across the country up and running once again, we are excited to welcome back our customers and give them the best possible experience,” he added.

Yield plunge stirs thoughts of 1% Treasuries on Delta Covid variant

ONG-term Treasury rates tumbled to the lowest levels in months on Monday as the spread of the Delta coronavirus variant called into question optimistic assumptions about economic recovery, also touching off a global stock market slump. Market-implied expectations for a Federal Reserve rate increase were pushed further into the future amid stronger-than-normal debt-market volumes, and the rally in bonds drove benchmark 10-year yields down as much as 12 basis points to 1.17 percent on Monday. That’s a level unseen since early February and well below

the 14-month high of 1.77 percent it reached in March. Some traders are now likely to begin looking toward 1 percent, a mark that hasn’t been breached since late January. The resurgence of virus cases despite widespread vaccination induced investors to dial back risk-taking, anticipating a fresh wave of restrictions on economic activity. The 10-year rate ended below its 200-day moving average for the first time since November, while the 30-year yield also hit a five-month nadir and the gap between two- and 10-year yields narrowed to less than 100 basis points for the first time since February.

The latest wave of demand for Treasuries is based on “the forward-looking reemergence of Covid risks coupled with both fiscal and monetary policy that can’t step up as aggressively,” said Stefan Dannibale, head of US Treasury trading and sales at StoneX Group Inc. “The market is looking at those challenges and re-rating growth lower ahead.” The move started in Asia with rising cases fueling speculation that a lockdown in Sydney could be extended, providing a lift for domestic bonds. Moves unfolded further in European trading hours, before gathering pace when the US session day began, accompanied by

heavy volume in Treasury futures. By 3 p.m. in New York, volume in the 10year note contract was near 2 million, compared with a daily average of 1.55 million over the past 30 days. Bonds were little changed during the Asian session on Tuesday. “Even if we do get through this latest growth scare for well vaccination countries, going forward it will still be a different story for non-vaccination countries, so even if in vaccinated nations the concerns pass, in others it will not,” NatWest Markets’ global head of desk strategy John Briggs wrote in a client note. Bloomberg News

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www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, July 21, 2021

Improving your learning curve PHOTO BY KELLY SIKKEMA ON UNSPLASH

5 art projects for a positive mindset WITH the challenges and difficulties nowadays, art remains an easily accessible form of therapy. It helps explore emotions, increase self-awareness and deal with life trials. Art-making engages both the right and left hemispheres of the brain, and activates the same parts used during real-life problem-solving. Scrapbooking, doodling, sketching, knitting and sculpting can make a way for a better frame of mind. Thus, the Benilde Well-Being Center of the De La Salle-College of Saint Benilde and Lindsay Lederman, the clinical director of The Art Therapy Project, a nonprofit mental health organization that provides free group art therapy to all people of all ages affected by trauma, have compiled some useful tips for those who currently struggle. “We don’t need to be an experienced artist to reap the rewards,” Lederman noted. “Anyone can make a bit of time for art and creativity. It’s the process, not the result, that creates a more positive mindset.” Here are five art projects for a more positive outlook: 1. Need a sense of control? Collage. Collages helps us explore ideas and allows us to be more creative without having to produce from scratch. With problem-solving and decision-making skills, we decipher how to deconstruct an existing composition to form a new product. It provides a kinesthetic release and kindle feelings of control. 2. Feeling negative? Doodle mantras for positivity. Doodling or drawing a mantra exhibits relaxed feelings and introduces positive messages into the mind. Take two minutes amid the busy schedule to jot down some words of encouragement. If you have extra time, decorate it with designs, dots and illustrations. Doodling enables sharper focus by quieting distracted parts of the mind. 3. Anxious? Sketch or color. Take note of your thoughts and feelings by drawing a line and coloring around it. Repetitive strokes provide temporary relief from life stressors. The focus required to color likewise keeps negative emotions at bay until you are ready to address them. 4. Stressed? Knit. The repetitive hand motions of knitting are an active-reward activity. The mind and body work together to fulfill a particular task. It decreases levels of the stress hormone called cortisol and brings a meditative effect. 5. Feeling helpless? Sculpt. Building 3D objects can mirror the process of building up our egos. Manipulating materials—be they clay or popsicle sticks—allows us to feel masterful and ready whatever life throws our way.

HEN I was still a teacher, and even up to now, I always believed there is no such thing as a stupid student. Only lazy ones. Students have different intelligence ratios and have different learning opportunities. Some have steeper learning curves and thus exert more effort in learning new things. Others have an accelerated learning curve where they listen to something for the first time and they understand it right away. Same with some adults—some quickly learn new skills while others quickly forget even something they had just been told. It all boils down to people’s learning curves—how fast someone can assimilate a new process to enhance their performance of a given task. When people become older, this becomes steeper for most, while some surprise themselves by learning new skills even way past their retirement. It is not true that you cannot teach old dogs new tricks. Sometimes, it just takes time. And when you find yourself grappling with new processes, there are several things you can do to hasten your learning curve and enhance your personal productivity. Master the basics. Nobody becomes an expert on something overnight. Often, it takes years of failures, success, research, and a lot of effort for one to become specialized in something, more so when it is a highly technical field. Some come through with the help of mentors who will guide them through the process, while others find it in themselves to push through and succeed. Understanding the basics will help you look at the processes involved and help you understand how, if possible, things can be improved. You can suggest new ways of doing things, but a good understanding of the basics will provide the foundation for improving them. Use your strengths to learn new things. I once had a new team member who came from corporate communication. She was very good at what she does and could navigate through all types of people and personalities. She used that to learn the ins and outs of the organization and which departments worked well with what and within a few weeks, she was able to establish a point of contact from key departments we worked with. And from there, she learned their training needs, processes, and best practices. In the same manner, use your own strengths to build up on what you need to know to get your work done. Read up on best practices. As Eleanor Roosevelt once said, “Learn from the mistakes of others. You can’t live long enough to make them all yourself.” A good way to jump-start learning is to learn from others’ mistakes. Read up on emerging trends and current issues in your profession as a lookout for possible self-improvement, or as a way of assessing risk to your own profession and organization. You can also learn from people’s stories and how they succeed in their own fields. One of the most enriching parts of interviewing people is asking them their biggest mistake and the lesson they learned from it. You not only get to know people better but you also learn from them.

Your interests also play a crucial factor in learning something new. The more interested you are in learning a skill, the more invested you are. Take, for example, learning how to swim. If you were forced to learn to swim by being thrown in the water, chances are you would find it more of a threat than a fun activity. But when you initiate the lessons and even get in extra hours of practice because you really want to swim, it becomes easier for you to learn the necessary skills. When confronted with new processes or tasks at work, adopt a mindset where you visualize the benefits to motivate yourself to learn. Having an end goal always helps push you and keep you moving forward. To be dexterous, accept new challenges in the workplace. Just make sure it fits within your interests, and the skills required to complete the project are more or less similar to the skills you need for your work. I remember the first time I wanted to do an interactive learning video where I had to take several shots of someone from a variety of angles. No one had done that, and I felt it was my opportunity to impress my peers. It was also my first time making a video, and my manager told me at the time to come up with a shot list. I did not listen and ended up redoing the shoot because I did not have enough footage. But that

mistake taught me why I had to do a shot list, and why it is important to plan video shoots especially when the model has a limited schedule. My manager was teaching me how to do it, but that mistake taught me why I had to do it. New challenges and experiences help solidify learning and improve our learning curve, so it sticks. Create an environment for learning. I remember when we were putting together kits for our trainees and we had to photocopy, collate the materials, and then finally assemble the kits. Our mistake was everyone was doing everything all at once. It took us several hours to finish and there were some with missing pages and some with repeated materials. It cost us additional time to double check. After that, in the next batch, we all decided to divide the work among ourselves and one was assigned to publication, collation and assembly. It became easier for us to put the kits together. It also became easier for people to take responsibility for certain parts of the task, and it made everyone open to the possibility that there was a better way of doing things. Learning new things need not be on pen and paper alone. There are countless ways for self-improvement and learning new skills. You just have to be open to new opportunities and have the mindset that everyone you meet has a lesson to teach you. n

Why livestreamers should sell their products with a poker face—not a smile By Michel Ballings University of Tennessee Smiling or exhibiting other positive emotional displays while selling a product over live video— known as livestreaming—makes people less likely to buy it, we found in new research published in the Journal of Marketing. Livestreaming through channels such as Amazon Live and QVC is an increasingly popular way to sell goods online. In segments that usually last somewhere between five and 10 minutes, someone pitches a product. Viewers can then readily buy it by clicking on a link. We analyzed 99,451 sales pitches on a livestream retailing platform and matched them with actual sales transactions. In terms of duration, that is the equivalent of over 2 million 30-second television advertisements. To determine the emotional expression of the salesperson, we used two deep learning models: a face detection model and an emotion classification model. The face detection model discovers the presence or absence of a face in a frame of a video stream. The emotions classifier then determines the probability that a face is exhibiting any of the six basic human emotions: happiness, sadness, surprise, anger, fear or disgust. For example, smiling signals a high probability of happiness, while a scowling expression

usually points toward anger. We wanted to see the impact of emotions expressed at different times in the sales pitch so we computed probabilities for each emotion for all 62 million image frames in our dataset. We then combined these probabilities with other possible variables that might drive sales—such as price and product characteristics—to isolate the effect of emotion. We found that, perhaps unsurprisingly, when salespeople convey more negative emotions—such as anger and disgust—the volume of sales went down. But we also found that a similar thing happened

when the sales pitch involved high levels of positive emotional displays, such as happiness or surprise. A likely explanation, based on prior research, is that smiling can be off-putting because it lacks authenticity and can reduce trust in the seller. A seller’s happiness may be taken as a sign that the seller is gaining in the negotiation at the customer’s expense. We found that the negative effects on sales are the strongest when people express emotion in the middle rather than at the beginning or the end of sales pitches. A potential reason for this finding is that viewers might expect more emotion at the beginning

of the pitch, when a salesperson is introducing a product, and at the end, when she’s closing the sale. The middle is typically when the salesperson offers more detail about the product, and it’s likely viewers are turned off by emotion at this point in the pitch. Business majors and future salespeople are typically taught to provide service with a smile. Service providers such as bank tellers and waiters are encouraged to smile in order to get good customer outcomes. And even in our data, salespeople were smiling for almost a quarter of the time. Our research challenges this notion and replaces it with a new maxim: Sell with a straight face. To our knowledge, this marketing study is the first to assess the sales impact of the presence of a salesperson’s face and emotional displays. We don’t know if our findings translate to inperson sales. The main reason why this is unknown is because it is very hard to observe sales interactions in the field. For example, we cannot go and record how salespeople at a car dealership sell cars on a large scale. There is some smaller-scale, in-person evidence based on surveys that appearing calm—perhaps with a straight face—builds rapport, which in turn drives sales performance outcomes. It remains to be seen if these findings translate to a natural field experiment. THE CONVERSATION

PHOTO BY BLAKE WISZ ON UNSPLASH

B6 Wednesday, July 21, 2021

Filinvest Group partners with Amazon to drive innovation, accelerate digital transformation across the conglomerate

NGCP’s mangrove project now a protected area and ecotourism site

MEMBERS of the Kulasihan Fisherfolks Association (KUFA) were engaged to plant and nurture an initial of 50,000 seedlings for NGCP’s mangrove reforestation project.

ATIONAL Grid Corporation of the Philippines' CSR initiatives continue to gain recognition as its mangrove project at Brgy. Kulasihan, Kolambugan, Lanao del Norte has been transformed into an ecotourism site and declared a protected area through a Sangguniang Bayan Resolution. In partnership with the Lanao Aquatic Marine Fisheries Center for Community Development, Inc. (LAFCCOD) and Kulasihan Fisherfolks Association (KUFA), the mangrove reforestation

project is part of NGCP’s efforts to mitigate the effects of climate change. In 2018, members of KUFA were engaged to plant an initial of 50,000 seedlings on the waters of Panguil Bay, occupying an area of approximately 7 hectares. The project is unique from other tree planting programs as it adheres to a more holistic approach to ensure sustainability. Prior to the project’s commencement, LAFCCOD organized trainings to orient KUFA members on the importance of mangroves to the

environment and the people. They also conducted research to determine the most suitable varieties to plant in the area. “Our partnership with LAFCCOD and KUFA enabled us to integrate nursery establishment, planting, growing, parenting, and nursing of mangroves into our strategy. This gave us the confidence that we would reach our target of at least 80% survival of the mangroves, which we exceeded after our assessment,” the company said. After 3 years of continuous management and monitoring, the site is now home to more than 46,000 mangroves of 3 different species. From previously being a dump site, the protected mangrove area will also serve as the community’s natural sea barrier and a sanctuary for commercially valuable fish and other marine life. The host community also transformed the area into an ecotourism site after building a boardwalk and cottages for visitors. NGCP is a Filipino-led, privately owned company in charge of operating, maintaining, and developing the country’s power grid, led by majority shareholders and Vice Chairman of the Board Henry Sy, Jr. and Co-Vice Chairman Robert Coyiuto, Jr.

Cleanfuel inaugurates newest station in commerce-driven Olongapo City

S the Philippine economy is steadily making its rebound, Cleanfuel— the leading independent oil player in the country—makes sure that it is covering key locations to further help Filipinos with their fuel needs. Recently, the company, known to provide “Quality Fuel for Less,” inaugurated its newest station in one of the fastest growing cities in Central Luzon: Olongapo City. According to Cleanfuel President Atty. Jesus "Bong" Suntay, the opening of Cleanfuel Olongapo is designed to cater to motorists within the Subic economic growth area and which is also the gateway to the sandy beaches of Zambales. “Getting access to affordable products is one way to stimulate growth anywhere in the country and we at Cleanfuel strongly believe in this,” Suntay said. “Rest assured that aside from providing ‘Quality Fuel for Less’, we will continue to be every city’s constant partner and advocate for progress.”

Situated along the National Highway in Barangay Barretto, Olongapo City, Zambales, Cleanfuel Olongapo is strategically-placed along the busiest stretch that interlinks Olongapo and Zambales province. The newest establishment will be beneficial to the transport and logistics arm of various manufacturers and other businesses thriving within the area. Moreover, tourism is also seen to be enjoyed by many, as Cleanfuel Olongapo— just like every Cleanfuel station—offers quality fuels at very affordable price, which essentially means more miles at a fraction of the cost. As such, customers can expect top-notch fuel products such as Clean 91, Premium 95, and high grade diesel. Besides fuel, the company prides itself with its world class amenities offered to customers such as clean and spacious air-conditioned restrooms, huge parking space, air-and-water services, leasable commercial spaces, and cashless payment options.

Suntay also invited motorists to sign up to the Cleanfuel VIP rewards program and further take advantage of their products. The membership-based program, which provides numerous giveaways and discounts at partner establishments, is given FREE to motorists. “Aside from providing quality fuel for less and top notch services, the safety of customers has been and will always be our top priority. We want to assure customers that we are complying with safety and health protocols mandated by the government,” explained Suntay. “We are not only implementing these safety measures at Cleanfuel Olongapo, but with the rest of our stations as well. As we expand our retail network in the coming weeks—from Bulacan, Rizal, Laguna, Batangas, and northern provinces—we will continue to serve and deliver to all our patrons the best fuel products, unique loyalty program, and top notch service,” Suntay concluded.

OTIANUN-LED Filinvest Group — one of the Philippines’ largest conglomerates — has partnered with Amazon and it's global industry experts to accelerate digital transformation across the Filinvest ecosystem by seeding Amazon’s “learn and be curious” culture to various teams. As the world recovers from the pandemic and accelerates towards economic growth, Filinvest’s President and CEO Josephine Gotianun-Yap remains confident and steadfast in driving the business forward. “Today, Filinvest envisions its varied businesses in sectors such as real estate, hospitality, and banking and finance to embrace a digital future. This vision requires everyone in the organization to innovate and find new ways of doing things to cater to the increased expectations of customers.” The group believes that this is an essential step in ensuring that its people and businesses can empower more and more Filipinos to achieve their dreams in the future. “We are inspired by the Day 1 mentality at Amazon, their customer obsession, as well as their ability to maintain a long-term focus, and pursue bold innovation,” says Xavier Marzan, Managing Director and CEO of F(DEV), Filinvest Group’s digital innovation and venture arm. As part of the collaboration, Amazon’s AWS unit will work with Filinvest business teams to leverage Amazon's Working Backwards methodology, with the aim of

rapidly building out and deploying customercentric digital solutions. AWS innovation experts will also connect these business teams to its digital innovation specialists and enterprise strategists to provide cuttingedge industry knowledge from different markets to support the conglomerate’s digital growth initiatives. Moreover, AWS will support Filinvest’s efforts with its AWS Activate program including providing mentorship to Filinvest business teams, creating sandboxes to speed up experimentation and providing go-tomarket support to the tech startups within the conglomerate’s portfolio. The partnership is part of Filinvest’s broader Filinvent.io program was launched last year by F(DEV) and is geared towards accelerating the development of new digital-based capabilities, products, and businesses across the group’s subsidiaries. Conor McNamara, Managing Director of AWS ASEAN expressed excitement towards the collaboration, stating that “AWS has been at the forefront of helping organizations of all sizes across the globe with their digital transformation journeys. We’re very excited about our collaboration with Filinvest Group and F(DEV). It presents an opportunity to combine both our deep expertise in technology and digital business models to support the growth objectives of the Filinvest conglomerate across its diverse businesses ranging from real estate, retail, financial services to the power, and infrastructure.”

17th Cinemalaya journeys anew to the digital platform, CCP to open a hybrid drive-in cinema

INEMALAYA Philippine Independent Film Festival presents its second online edition this year with 13 short films competing for the prestigious Balanghai trophies this coming August 6 to September 6, 2021, streaming on KTX.ph. Competing for the Best Film are: An Sadit Na Planeta (The Little Planet) by Arjanmar H. Rebeta; Ang Mga Nawalang Pag-Asa At Panlasa (The Lost Hopes And Flavors) by Kevin Jay Ayson; Ang Pagdadalaga Ni Lola Mayumi by Shiri De Leon; ATE O.G. by Kevin Mayuga; Beauty Queen by Myra Aquino; CROSSING by Marc Misa; Kawatan Sa Salog (A Toy In The River) by Alphie Velasco; KIDS ON FIRE by Kyle Nieva; Looking For Rafflesias And Other Fleeting Things by James Fajardo; Maski Papano (I Mask Go On) by Che Tagyamon And Glenn Barit; Namnama En Lolang (Grandmother’s Hope) by Jonnie Lyn P. Dasalla; Out Of Body By Enrico Po; And The Dust In Your Place by David Olson. The vanguard of the Philippine independent filmmaking since its inception in 2005, Cinemalaya continues to unearth new cinematic voices and develop a growing audience for independent cinema for its 2023 edition. Cinemalaya introduces new direction and further expands its cinematic boundaries through the Cinemalaya Film Lab, a three-month-long film-laboratory mentorship program happening on Sepember to November 2021. The CCP will also open its ground with a hybrid drive-in cinema, dubbed Cinema Under the Stars, where film habitués can watch a film in the hybrid drive-in cinema at Liwasang Ullalim. The first audiencecentered on-site event since the lockdown, the hybrid outdoor cinema welcomes everyone, whether they are riding their cars or bikes, or even just walking and jogging.

Gawad CCP Para sa Alternatibong Pelikula at Video, the longest-running independent film and video competition in Asia, will also continue its run this year. Visions of Asia, one of the major components of the film festival, will screen award-winning indie films from Asia; while IndieNation showcases notable and critically acclaimed feature length and short films produced in the past year that will have a continued run at Cinemalaya. Don’t miss out on other components such as the Cinemalaya Retrospectives, featuring past Cinemalaya films, and Cinemalaya Campus, among others. The film festival will also pay tribute to individuals who have made great contributions to the Philippine film industry, including director Mel Chionglo, former head of the Cinemalaya Competition and Monitoring Committee with the screenings of three of his best films. Catch the Premieres, featuring full-length and short films which have been produced in the past year and will be screened for the first time in the Philippines, as well as the book launching of the “Riding the Waves: 15 Years of Cinemalaya,” a complete guide to the colorful history of the country’s biggest independent film festival. For more updates, please visit the CCP and Cinemalaya websites. Follow the official CCP and Cinemalaya social media accounts.

Fran-Guru Exchange provides strategies for entreps to level up their businesses

RAN-GURU Exchange is an online platform focused on motivating entrepreneurs to level up their businesses. The program’s core competence is the husband and wife hosts known for their vast reservoir of experience in assisting clients grow and expand their businesses for the last 30 years. The motivating strategy will be the business life experiences of entrepreneurs as they travel the route to scaling up their business concepts. Entrepreneurs will not only talk about their successes but more importantly the challenges and difficulties they faced as part of the Think Business Growth Series.

As experts in franchising, the husband and wife team will have a Franchise Playbook series. The goal of the series is to inform viewers on the basics of franchising and the phases to become a franchisee and franchisor. There will also be a portion called Franchise Spotlight where franchisors present their franchise offering while franchisees talk about their experience in the franchise system. To know more, visit the YouTube Channel of Business Franchise Guru.

BusinessMirror

Editor: Tet Andolong

Wednesday, July 21, 2021 B7

Arthaland launches high-end Lucima

VALENZUELA Mayor Rexlon Gatchalian (fourth from left) and Department of Human Settlements and Urban Development Secretary Eduardo del Rosario (fourth from right), together with local agency officials, lead the groundbreaking and capsule laying ceremony of Disiplina Village Arkong Bato.

three-bedroom—each unit boasts of a high-floor-to-ceiling height of 2.9 meters and residents can enjoy the view of the ocean, mountains or the city

The Amenity Deck—world-class amenities can be found on the 6th floor

By Rizal Raoul S. Reyes

EADING Philippine sustainable developer Arthaland will make the Cebu City skyline greener as it recently broke ground on another environment-friendly project–Lucima. “We want to share our vision and commitment to different parts of the country. Cebu is the best place to start it off in the South for Arthaland, following the success of our company’s office building development, the Cebu Exchange,” Arthaland Vice Chairman and President Jaime C. González told the press in an online forum. Located at the corner of Cardinal Rosales Avenue and Samar Loop in Cebu Business Park, the 37-story development is envisioned to be the first quadruple-certified sustainable high-rise residential condominium in the country. It has garnered pre-certification for LEED (Leadership in Energy and Environmental Design) Gold by the US Green Building Council. Meanwhile, it is vying for WELL (WELL Building Standard), EDGE (Excellence in Design for Greater Efficiencies), and BERDE (Building for Ecologically Responsive Design Excellence) certifications. “Cebu is fast gaining prominence as a leading regional hub and preferred location for some of the most renowned global institutions. Investors and locators alike can look to Lucima to set the standard of luxury living in the city through its timeless design, meticulously executed construction and thoughtful sustainability features,” Arthaland Executive Vice President Christopher G. Narciso pointed out. Lucima was derived from the Latin word “Lux” which means light, and the Spanish word “Estima” which means appreciation, light and its benefits are the inspiration behind the building’s aesthetics, functionality, and en-

Lucima Main Lobby—the Main Lobby features a play of light

ergy efficiency. According to Architect Miguel Saraiva, CEO and founder, Saraiva + Associados, the design will put emphasis on carefully planned features allowing abundant light to penetrate inside the homes while preventing indoor heat gain. Designed by Lisbon, Portugal-based Saraiva + Associados, Lucima features 263 one to fivebedroom living spaces ranging from 38 to 542 sq m. Moreover, Saraiva pointed out that its human-centered design approach puts comfort, functionality, and aesthetics at the center of every project they undertake. To be able future residents to enjoy the picturesque view

of Cebu City, each unit will have a high floorto-ceiling height of 2.9 meters, and residents can enjoy a view of the ocean, the mountains, or the city. “The goal of this project was to design an iconic building in the city that would engage with its surroundings. This building sits on a podium—a podium with personality—which will showcase a vertically well-designed and integrated building. Its façade will have different interpretations depending on the solar incidence and depending on how it is viewed from the outside to the inside,” Saraiva said. For sure, Lucima w il l put a premium on health, safety, and security. In line with its sustainable mantra, future residents of Lucima will experience an environment-friendly lifestyle through lower electric and water bills and improved indoor air quality. Being a green and efficient building, Lucima will use an energy efficient air-conditioning and lighting system and low flow plumbing features that will allow residents and tenants to achieve at least 40 percent savings in electricity bills and at least 20 percent savings in water consumption. Each unit will have an Energy Recovery Ventilator (ERV) that improves indoor air quality by bringing in fresh, filtered air while controlling the humidity for thermal comfort. The introduction of the ERV is timely as it aims to protect future tenants from harmful microbes and pathogens through highly efficient air filters. This results in reduced incidents of cold, fewer allergies, and a better quality of sleep. As with other Arthaland developments, Lucima will have its own Potager Garden to provide residents with fresh, organic, and nutritious produce. To ensure Lucima will be always in excellent shape, Arthaland’s wholly owned subsidiary, Emera Property Management shall handle every aspect of the building’s upkeep and day-to-day management. Lucima is scheduled to be completed in the third quarter of 2025.

Sola inspired by family, life and healthy living

Valenzuela City breaks ground for Disiplina Village By Roderick L. Abad

A R K ING t he 152nd birth anniversar y of Dr. Pio Valenzuela, the local government unit (LGU) of Valenzuela broke the ground and held a capsule laying ceremony for its new Disiplina Village in Barangay Arkong Bato. The 20 three-story low-rise buildings will have a total of 720 housing units with an individual unit floor area of 16 sq m and a loftable space of 11 sq m. The soon-to-rise Disiplina Village Arkong Bato (DVA) is in line with the city’s goal to relocate the remaining Informal Settler Families (ISFs) from dangerous areas beyond three to five easements of waterways, and ISFs living along and underneath the National Grid Corp. of the Philippines’s transmission lines. The city wants the newly relocated families to live in a safe and sustainable community with adequate facilities. With the motto, “Bagong Bahay, Bagong Buhay,” beneficiaries are empowered to rebuild their lives and can become more productive members of their community. I n h i s s pe e c h du r i ng t he launching events last July 12, Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo del Rosario lauded the city govern-

ment for keeping ISFs out of danger and building a model housing project that is a pioneer of its kind in the country. He cited that Mayor Rexlon Gatchalian started the city’s rental housing program, and that is the direction of the DHSUD, especially in urban areas that are mostly crowded. “Sixty-five percent of residents will be residing in urban communities by 2050, so there is no way but to go up in our residential units,” he noted. The local chief executive praised del Rosario and called him the “Ninong ng mga Disiplina Villages” (Godfather of Disiplina Villages) for being present from the start of building Valenzuela’s very first up to the upcoming residential project. Mayor Gatchalian also stressed in his speech that the city’s past meets the future in this initiative. The DVA is supported by the National Housing Authority, the Department of Budget and Management, and the DHSUD. This is the fourth in-city resettlement site in Valenzuela after Disiplina Village Ugong, Disiplina Village Bignay, and Disiplina Village Lingunan. The LGU will continue to empower its people and build model communities and character villages, living out its promise of a livable city for every Valenzuelano.

AREIT buildings secure Safety Seal

ANY of us have spent our lives hurrying to and fro. Quality time feels like a blur. But when a pandemic marooned everyone at home—where jobs and classes are reduced to online interactions—it dawned on people how important the welfare of the family is and how essential residences and their location are. Cramped apartments, claustrophobic condos or houses in subdivisions which are becoming denser and denser could be taxing in what we call the new abnormal. Alternatives to these were few and far between. Costa Del Hamilo Inc. (CDHI), one of the country’s premium beach resort developers, came into the picture and changed the scenario for the better. The developer recently launched an exclusive residential project and the first horizontal development in Hamilo Coast: Sola at Pico de Loro Cove. Sola is considered as the first premier, sustainable, lot development in Pico de Loro Cove with access to 1.5 kilometer of white-sand beach and is approximately 90 minutes away by car from SM Mall of Asia. Imagine being with your loved ones, either working or studying from home, and your home is practically a haven—a master-planned seaside residences within the exclusive Pico de Loro community. Right at the heart of an enclave with 40 percent open space, a cluster of parks exclusive to Sola homeowners, a mere five-minute stroll to a stretch of white-sand beach, an eight- or 10-minute walk to Pico Country Club, and a 10- or 12-minute trek to Pico Beach Club. All that is possible with Sola bringing together an exceptional combination of resort living, premium estate conveniences, an upscale beach club

A lifestyle, and an array of sea and land-based amenities. It reflects an affluent yet inclusive community ideal for everyday living set within a healthy, secure and well-integrated natural environment. It’s modern, tropical architecture concept befits its coastal setting as the design for the residences centers on the use of materials such as wood and stone, each equipped with modern home amenities. The Central Park includes three serene and functional zones surrounded by a bike lane. The Tropical Park is ideal for taking an invigorating stroll or jogging along the meandering tree-lined path. The Active Family Park is a nature-inspired playground with an exercise area and jog trail within the greenest of space. The Tranquility Park is the

quite zone for meditation with the rustling sounds of leaves as ambient soundtrack. Lot owners of Sola also acquire a Pico de Loro Beach and Country Club individual membership share which gives them access to the most extensive land and sea-based recreational facilities in Nasugbu, Batangas. Property Management at Hamilo Coast (www. hamilocoast.com), is also about maintaining the integrity and conviviality of its resident community. Thus, the management team and residents will be working together to continually find ways on improving the overall experience of seaside living—a life we all deserve. Sola at Pico de Loro Cove brings everything you love together. Reni Salvador

REIT Inc. (AREIT) properties in Metro Manila, Ayala North Exchange, Solaris One, McKinley Exchange Corporate Center, and The 30th Corporate Center secured Safety Seal Certifications from the Department of the Interior and Local Government (DILG) within their respective LGUs. In compliance with recent public health standards set by the government, the Safety Seal Certification recognizes and verifies the safety initiatives an establishment has implemented in order to safely continue with operations in lieu of the global health crisis. AREIT’s buildings have given attention to improvements in ventilation systems to limit risk of Covid contamination and transmission through maximizing fresh air intake in its air-conditioning systems. In doing so, indoor spaces of these buildings are able to maintain adequate air exchange while still keeping cooling functionality to maintain desirable temperatures for occupants.

Other standard safety protocols done by AREIT include health declaration and thermal scanning at every entrance and exit of the establishment, use of protective equipment (PPE) for building frontliners, an isolation area for Covid-suspected individuals, contact tracing, installation of guides and physical barriers in common areas to maintain social distancing, regular disinfection of high touchpoints and increased availability of sanitation devices within common areas. AREIT, through its sponsor Ayala Land, acknowledges the need these initiatives address in creating safe public spaces to drive consumer activity and reenergize the economy. By partaking in this progress toward safer communal spaces, employees can benefit from the use of prime facilities that are secure, reliable and conducive for the work environment. This is in conjunction with the vaccination rollout now accommodating the A4 category or the essential working force.

Sports

NESTHY PETECIO strikes a selfie as she checks in at the Olympic Village while Carlos Yulo and Japanese Coach Munehiro Kugimiya are deep into details of the world champion’s routine at their apartment in FudaChofu in Tokyo.

BusinessMirror

| Wednesday, July 21, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Three is a charm for PSC chairman?

OKYO—Philippine Sports Commission (PSC) Chairman William Ramirez will be attending his third Olympics hopeful that this time, the country will finally nail that elusive gold medal. Ramirez was PSC chairman when Hidilyn Diaz debuted as an innocent 18-year-old in Beijing 2008 and was back at the sport’s agency’s helm when Diaz clinched a weightlifting silver medal in Rio de Janeiro 2016. Now, in Tokyo 2020+1, Ramirez owns the distinction as the only PSC chairman since the agency’s establishment in 1990 to be attending three Olympics. Three is a charm? “I always say, Olympic success is more than just a year of preparation,” said Ramirez two days before he and Chief of Staff Marc Velasco fly to Tokyo aboard a Philippine Airlines flight on Thursday. “For some it took three cycles,” he said. “Experience is an excellent leverage.” Ramirez’s Olympic journey matches weightlifter Hidilyn Diaz’s own Games sortie. Then 18 years old, Diaz made her Olympic debut in Beijing as a wild card in women’s 58 kg class. So young and so innocent on the Olympic stage then, she didn’t make the podium, nor get close to it, but the prize of Zamboanga City reaped the experience she needed. London 2012 wasn’t Diaz’s time then, but came 2016 in Rio and she brought home a silver medal. “I have the privilege of seeing Hidilyn grow from grassroots to Olympic medalist,” Ramirez said. Diaz and 18 other Filipinos are competing in 11 sports in Tokyo and Ramirez believes all of them have the potential to win the country’s first Olympic gold medal—or perhaps even more. “This batch is strong. Not to discount previous batches because I always believe that making it to the Olympics is a medal in itself, it is just that this delegation really present us a strong chance for a golden break” Ramirez said. Ramirez recalled how he felt when Diaz landed that silver in Rio, ending a six Olympic cycle drought since Atlanta 2016 when Mansueto “Onyok” Velasco won a men’s flyweight gold medal in boxing. “Everyone was ecstatic. I brought Hidilyn to the President [Rodrigo Duterte] and my orders were crystal clear—‘Butch, take care of the athletes,’” Ramirez said. For this Olympics, Ramirez has under his care—besides Diaz—runner Kristina Knott, pole vaulter EJ Obiena, judoka Kiyomi Watanabe, boxers Carlo Paalam, Eumir Marcial, Irish Magno, and Nesthy Petecio, golfers Juvic Pagunsan, Yuka Saso and Bianca Pagdanganan, rower Cris Nievarez, shooter Jayson Valdez, skateboarder Margielyn Didal, swimmers Luke Gebbie and Remedy Rule, taekwondo jin Kurt Barbosa, gymnast Carlos Yulo and weightlifters Diaz and Elreen Ando. Jun Lomibao

NOT ONE, BUT TWO GOLDS IN TOKYO? T By Jun Lomibao

OKYO—Philippines, hold your breath—the country’s gold medal drought in the Olympics could finally end at the Games of the XXXII Olympiad that start on Friday amid the Covid-19 pandemic. And the 19 Filipinos who qualified for these Olympics being held under a difficult situation are said to be good for, yes, not one, but two gold medals. A popular website, https:// olympicmedalspredictions.com, predicted that the Philippines stands to win two gold medals, one silver and one bronze in the Tokyo Olympics that were moved one year because of the global pandemic. Gymnast Carlos Yulo and boxer Nesthy Petecio are projected to win the gold medals, with boxer Eumir Felix Marcial settling for a silver medal and weightlifter Hidilyn Diaz clinching a bronze. The website’s forecasts are similar with what Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino and Philippine Sports Commission (PSC) Chairman William “Butch” Ramirez foresee

Thailand, a sports power in the region, is expected to win only one gold from taekwondo jin Panipak Wongpattanakit and silver from its mixed team in badminton. Indonesia, on the other hand, is favored in badminton’s doubles with a silver in weightlifting from Eko Yuli Irawan and a broze in mixed badminton. Malaysia isn’t expected to win gold, but will corner silver medals from archer Khairul Anuar Mohamad and from one of its divers. Singapore and Vietnam would go medal-less, the prediction said. Brunei, Laos, Cambodia and TimorLeste were not on the list. The same website predicted the United States to win the overall title with 50 golds, 29 silvers and 29 bronze medals, followed by China (42-33-17), Russia (27-25-18), Great Britain (21-13-21) and host Japan (16-21-15-52). Completing the top 10 are Australia (15-16-14), Germany (153-22), Netherlands (10-14-7), France (10-6-18) and Hungary (8-5-3).

DUTCH TRAINING Katie Stam of the Netherlands gestures during a beach volleyball training session on Tuesday in Tokyo. AP

AL MENDOZA | alsol47@yahoo.com

THAT’S ALL

Game 6 jinx haunts Phoenix? THEY must win today or face the specter of losing everything in a battlefield that could instantly become their slaughterhouse. That’s the critical challenge confronting the Milwaukee Bucks

from this batch of Filipino Olympians. “That prediction could be correct, but it can be two silver and two bronze medals, too,” said Tolentino, who is arriving on the eve of the opening ceremony scheduled at the National Stadium on Friday. “I’ve said this long before that we will get a minimum of one gold,” Tolentino said. “if we get more, that’s already a bonus.” Ramirez, on the other hand, has always believed that this batch is “probably the strongest, most prepared Philippine delegation ever.” “I believe that we’ll win a medal in Tokyo and I’m pretty confident of a gold, silver and a bronze,” Ramirez said. The projected 2-1-1 gold-silverbronze finish will be the best ever finish by the Philippines, which has been participating in the Olympics in 1924. Such finish will also catapult the Philippines as the most successful Southeast Asian nation in the Olympics, beating rivals Thailand, Indonesia and Vietnam.

in today’s compelling Game 6 that they need to win to avoid a Game 7 against the Phoenix Suns in hostileladen Arizona. Just one game separates the Bucks from a 4-2 victory and end

their 50-year quest of a first NBA crown since their 1971 triumph via a 4-0 sweep of the Baltimore Bullets. Anytime, that’s the easier job to accomplish for the Bucks than the two-game mission from today to Friday for the Suns, whose last stab at a title ended in a 4-2 defeat to the Chicago Bulls in 1993. OK, you want history? No, Michael Jordan did not score the winning shot in Chicago’s 99-98 title-clincher 28 years ago. The wide-open John Paxson did, receiving a kick out pass from Horace Grace and nailing the three that gave the Bulls the crownclinching victory. “That’s instinct,” said Paxson of his triple fired with 3.9 ticks left. “You catch and you shoot. I’ve

done it hundreds of thousands of times in my driveway. It’s what I’ve practiced.” The Suns had the chance to extend the series to a Game 7. But Grant blocked Kevin Johnson’s game-winner from 15 feet at the buzzer, rendering irrelevant Charles Barkley’s 21 points and 17 rebounds for Phoenix. Never has an NBA player like Grant been stupendously mobbed and profusely hugged by his teammates after scoring only one point in a championship game. And Jordan? Well, he scored 9 of Chicago’s measly 12 points in the final quarter, finishing with a game-high 33 points. That baker’s dozen output was the lowest in NBA Finals history for a champion team.

PHL athletes buckle down to homestretch training

OKYO—Training’s on for members of Team Philippines, most of whom have checked in at the sprawling Olympic Village for the Tokyo Olympics. Except for the country’s bets in athletics and golf, everyone on the 19-athlete delegation have embarked on their training as of Tuesday, a good three full days before the Olympics opening ceremony. “Everyone who’s here are already training in their respective training venues,” Team Philippines Chef de Mission Mariano “Nonong” Araneta told BusinessMirror on Tuesday, adding early-day hitches are being addressed by the organizers, including the distribution and administration of the daily virus tests for the athletes. “Team Hidilyn [Diaz] is already training, as well as the boxing team,” Araneta said. “There are challenges in bringing the athletes to their training venues, but they are all under control.” Athletes and delegation members have to follow an activity plan in getting from one venue to another, one of the dozens of protocols to guarantee the safety and health of everyone participating in the Olympics. US Women’s Open champion Yuka Saso, according to Araneta, is already in town but preferred to stay in a hotel closer to the golf venue.

“Yuka arrived on Monday and she is staying at the Okura Hotel with his father-coach Masakazu, as well as his coaching team,” Araneta said. The Kasumigaseki Country Club, which is hosting both the men and women competitions, is a good 70 kms—an over an hour drive from the Olympic Village—prompting Saso’s team to relocate to a hotel. Bianca Pagdanganan and Juvic Pagunsan will also stay at separate hotels near the venue. There are 60 golfers from at least 36 nations competing in Olympic golf. The men’s contest is set from July 29 to August 2 and the women will follow suit from August 4 to 7. Mariano also bared that boxer Irish Magno hurt her right ankle while jumping rope on Monday, but thanks to coach Nolito “Boy” Velasco, the injury was immediately contained. “I immediately iced the injured area and Doc Randy [Molo, team doctor] took a look afterwards and declared Irish to be A-OK,” Velasco said. Mariano said pole vaulter EJ Obiena is due at the village—a facility located at the Harumi Waterfront District of Tokyo that features 21 residential buildings and 3,800 condos—at noon on Friday, while runner Kristina Knott is staying in a hotel in Nagasaki where the athletics training venue is located. Jun Lomibao

DEPUTY House Speaker Mikee Romero and NorthPort’s Eric Arejola grace Tuesday’s forum.

ROMERO HIKES ANTE FOR PODIUM FINISHERS D

EPUTY House Speaker and sportsman Mikee Romero sweetened the pot for Filipino athletes vying for medals in the Tokyo Olympics. Romero, a business magnate who donned the national colors in shooting and polo, announced on Tuesday his own set of cash incentives for what he described as “the strongest ever Philippine delegation” to the Olympics. “Out of my company’s expenses I will also put an additional motivation of P3 million for a gold, P2 million for a silver and and P1 million for a bronze,” Romero told the online Philippine Sportswriters Association Forum. “That is my ambag [contribution]. That’s the least I can do,” he told the forum presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. Romero, who was joined in the forum by NorthPort’s Erick Arejola, is pinning his hopes on golfer Yuka Saso, weightlifter Hidilyn Diaz and skateboarder Margielyn Didal. “Triple threat,” said the Philippine Basketball Association team owner. Romero expects Team Philippines, which also boasts of world champions Carlos Yulo of gymnastics and Nesthy Petecio of boxing, to deliver two to five medals of any color. “I’m hoping five. If we don’t

reach two [medals] it’s not a failure, but I expect two to five medals— any color. Definitely, this is our strongest team in the Olympics,” he told the public sports program powered by Smart with Upstream Media as official webcast partner. Each gold for any Filipino athlete or athletes in Tokyo is now worth P33 million, silver P17 million and bronze P7 million—from the Philippine Sports Commission, Smart-PLDTMaynilad and San Miguel Corp. It’s the biggest cash bonanza ever put up in the history of Philippine sports. The PSC, under the law, has put up P10 million for gold, P5 million for silver and P2 million for bronze and business tycoons Manuel V. Pangilinan, and Ramon S. Ang then matched the government incentive. Romero, who won a bronze in the 2019 Southeast Asian Games in polo, said the cash incentive would only get bigger once the medals come in. “For sure, there will be more. We in the House [of Representatives] can come up with an addendum for more funds to reward the athletes. I think it can reach P50 million [for gold],” he said. “Looking at the list I consider this our strongest lineup ever. These are champions worldwide. Their track record and background show,” Romero. “The best of the best Filipino athletes are here. Only Manny Pacquiao is missing on the list.”

Will history repeat itself, the Suns, title-less in 53 years, succumbing once more to that Game 6 jinx today? Chris Paul, Devin Booker and Deandre Ayton must marshal the Suns impeccably, or the trio of Giannis Antetokounmpo, Khris Middleton and Game 5’s big time hero Jrue Holiday would be on their way to giving the Bucks their second title after half-a-century of waiting. Roll in the dice, fellas. THAT’S IT With Japan set to host the Tokyo Olympics beginning on Friday, July 23, despite almost worldwide objections to its staging due to the pandemic, the Japanese are

proving to be the most stubborn race in history. Good luck!... We have 19 entries in 11 events, with gymnast Carlos Yulo, lifter Hidilyn Diaz and boxer Eumir Marcial listed as the brightest prospects to win the Philippines’s first Olympics gold medal—a sentimental quest spanning 97 years from our first stint in the 1924 Paris Games. Godspeed!... Happy birthday (July 21) to New Zealand-based Danny “Sir John” Isla, and Malaya Sol M. Sadiwa. MayaSoh marks a milestone today as she turns Sweet 16. The day she was born, MayaSoh’s Nanay, Malaya, received a bouquet of flowers from Sir John at St. Luke’s Medical Center, Q.C. How sweet! Does that still happen today?