BusinessMirror July 29, 2021 by BusinessMirror

Anne Ruth dela Cruz | BusinessMirror

Engr. Eulalio Austin Jr.

Kelvin Lee | SEC

Atty. Joseph Fabul

Jo Ann B. Eala | BPI

BUZZ WORDS NO MORE The BUSINESSMIRROR organized on Wednesday (July 28, 2021) a BM Coffee Club live webinar on “Sustainability Reporting: Sustaining

the Sustainable” 2021: from top left, clockwise, Anne Ruth dela Cruz, BUSINESSMIRROR Special Projects editor and webinar host; Engr. Eulalio B. Austin Jr., Philex Mining Corp. president and CEO; Atty. Joseph R. Fabul, Mondelez International country manager for corporate and government affairs; Commissioner Kelvin Lester K. Lee of the Securities and Exchange Commission; and Jo Ann Eala, head of the BPI Sustainability Office. Stories at bottom left below, and on A2.

ROTARY CLUB OF MANILA JOURNALISM AWARDS

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

THE BUSINESSMIRROR won four major awards in the 14th Bright Leaf Agriculture Journalism Awards, including the coveted Oriental Leaf Award (Hall of Fame). BM’s agriculture and commodities reporter Jasper Emmanuel Y. Arcalas was given the Oriental Leaf Award, after winning five Bright Leaf Awards across various categories. BUSINESSMIRROR veteran reporter Cai U. Ordinario bagged two honors this year: Best Tobacco Story of the Year and Best Agriculture News Story (National) for the investigative piece “Pre- and post-rice trade liberalization law, big traders gaming farmer groups.” Photojournalist Erwin Mascariñas won his third Bright after bagging this year’s Agriculture Photo of the Year for his photo on “Fish Drying” in Surigao del Norte. Story on page A6.

BusinessMirror A broader look at today’s business

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

BIZ GROUPS GIVE NOD TO FRESH LOCKDOWN www.businessmirror.com.ph

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Thursday, July 29, 2021 Vol. 16 No. 288

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

B C U. O

@caiordinario

OCAL business groups have expressed support for a two-week strict lockdown in order to prevent the spread of the Covid-19 Delta variant.

TOKYO OLYMPICS MEDAL COUNT

Socioeconomic Planning Secretary Karl Kendrick T. Chua told reporters on Wednesday that the risks from the Delta variant are higher and it is important for the country to manage these risks. The business groups believe that while the two-week strict lockdown may turn economic growth negative, it will ensure better growth in the last quarter of the year if it is successful in being what some experts call a “circuit breaker” in a surge of infections. “This sacrifice shall help ensure stronger, safer Philippine economic recovery for fourth quarter 2021, which is traditionally the best time for businesses in the year,” the business groups said in a statement. “[However], before the twoweek lockdown in August, there should be at least one week of preparation which shall perhaps be in the fi rst week of August,” C  A

@BcuaresmaBM

CONOMIC managers in the country affirmed on Wednesday that the economy is on the path of recovery, but highlighted the need for vigilance and preemptive measures to address potential “avoidable shocks” along the way. In its 2021 First Semester Financial Stability Report (FSR), the Financial Stability Coordination Council (FSCC) said its assessment confi rmed that the country’s fi nancial system is in a better place in 2021 than it was last year and that various sectors should be vigilant about carving

TEAM/NOC

GOLD

SILVER

BRONZE

TOTAL

Japan

People’s Republic of China

United States of America

ROC

Australia

Great Britain

Republic of Korea

Germany

France

Netherlands

Philippines

1 As of July 28, 2021 | 8:11 pm

Source: Olympics.com | Full table at www.businessmirror.com.ph

DUTERTE GIVES HIDILYN A VIRTUAL WELCOME B J R sporthunk

HIDILYN DIAZ flies home to a grateful nation on Wednesday, arriving at NAIA Terminal 2 on a PAL flight from Tokyo. NONIE REYES

FSCC: PHL on right path, but risk of ‘shocks’ there B B C

RANK

out the recovery path. The report identified four certain things in the economy a year into the pandemic: that GDP will return to positive growth rates within 2021; that incomes will be permanently below its trajectory in the pre-Covid-19 period; that forecasts of the future are characterized by substantial uncertainty, and this caveat is causing risk aversion to remain noticeable in the domestic financial market despite considerable liquidity that has been released by the authorities; and that the recovery is happening at a different pace across jurisdictions.

VERYTHING’S happening so fast for Tokyo Olympics gold medalist Hidilyn Diaz, who arrived to a heroine’s welcome on Wednesday afternoon at Terminal 2 of the Ninoy Aquino International Airport. No less than President Duterte welcomed Diaz in a virtual conversation, promising the Olympic champion a personal P3 million reward and a fully-furnished house-and-lot in her hometown of Zamboanga City. On top of those, Duterte said he will bestow

on Diaz the Presidential Medal of Merit, one of the highest recognitions from a Chief Executive. “We are so extremely proud of you, we cannot express even in words,” Duterte told Diaz. “Communicate with us one of these days. I will give you personally my P3 million aside from the P10 million from the government.” “Live a good life. It’s not a big amount, but it’s not small. You’ll be helpful to our country soon,” Duterte added. “Thank you so much Mr. President,” Diaz told Duterte in return. S “D,” A

SEC, PSE STILL TALKING ON ESG INDEX CREATION B VG C @villygc

HE Securities and Exchange Commission (SEC) said it is still in discussions with the Philippine Stock Exchange for the creation of a sub-index called ESG index, which will carve out those companies that strictly follow certain guidelines on environmental, social and governance standards for the investors. “We currently do not have an official stand but we already discussing it. Personally I don’t

have any reason not to allow it we are always very open to new initiatives and the PSE is always open and a partner of the SEC,” SEC Commissioner Kelvin Lester K. Lee said during the BM Coffee Club online forum. “I don’t foresee any issue on that particular index not unless there’s touchy provisions that don’t follow for our mandate,” Lee said. The PSE is bent on introducing three new sub-indices at the exchange in order to give C  A

C  A

PESO EXCHANGE RATES ■ US 50.3380

■ JAPAN 0.4587 ■ UK 69.9044 ■ HK 6.4662 ■ CHINA 7.7314 ■ SINGAPORE 37.0187 ■ AUSTRALIA 37.0337 ■ EU 59.4995 ■ SAUDI ARABIA 13.4213

Source: BSP (July 28, 2021)

News BusinessMirror

Thursday, July 29, 2021

SEC, PSE STILL TALKING ON ESG INDEX CREATION C  A

investors more choices to place their money. PSE President Ramon S. Monzon earlier said they may introduce an index for mid-cap stocks and for those firms that give high dividends. There are also plans to introduce an index for ESG or environmental, social and governance compliance of companies. The mid-cap and the highdividend yield indices can be rolled out this year, but the ESG index may have to wait longer as the Philippines need to study what other markets in the region has done for the said index. “Investments on the fi xed income securities like the green bonds has been happening during the last three to four years, but in the equities market it has not happened. We started disclosure framework to allow investors to know the ESG compliance of listed firms. We want to create an ESG index but it is not just as easy as that. You need to craft rules how companies would get into that index,” Monzon said. The PSE needs to secure the greenlight from the SEC before it can create a new sub-index.

www.businessmirror.com.ph

SEC won’t expand to unlisted firms rule on doing SRs–exec

B VG C

@villygc

HE Securities and Exchange Commission on Wednesday said it is not bent on expanding its rule on mandatory submission of sustainability report to non-listed companies, but said it is keen on making the rule mandatory for public companies starting next year, and possibly expanding it to other institutions.

During the BM Coffee Club online forum, titled Sustainability Reporting: Sustaining the Sustainable, SEC Commissioner Kelvin Lester K. Lee said the agency cannot just implement the rule on other private, especially smaller firms, due mainly to cost issues. He said, however, the agency may expand it to other firms that deal with public companies—these may include the stock brokers and bond issuers and other larger firms that are not yet listed. “I hesitate to force the issue on non-publicly listed companies. We are assessing. But on the publicly listed companies...we’re making it mandatory in 2023. There’s a separate set of discussions for that

from the stakeholders, but the current mindset [is to make it mandatory],” Lee said. Larger companies, in theory, can be forced to submit their sustainability report, which they may use during their fund-raising activities, as cost will not become an issue, though it may be harder for smaller firms, Lee said. “Of course I understand where they are coming from such as cost and other difficulties and this is a complex topic that we cannot just roll out immediately,” he said. SEC currently has an assessment period for the reports that were submitted to them that began last year. Lee said the agency has partnered with the Philippine Institute

of Certified Public Accountants (Picpa) to come out a study later this year on how it will analyze those reports that were submitted to them and also to inform the general public on what the listed companies have so far done in terms of sustainability reporting. “Whether or not they...actually do it, we can invoke our visitorial powers but maybe not quite yet because of the pandemic. But rest assured we are looking at the reports and we are assessing these with our partner institutions whether or not they are complying,” Lee said. In 2019, the SEC issued a memorandum to mandate listed companies to submit a separate report on sustainability outside of the annual report they are required to file with the agency. The report should follow the guidelines set by the SEC, mainly drawn from the standards set by the Global Reporting Initiative. For the first three years starting in 2019, the SEC adopted a complyor-explain approach, in which companies would be required to submit the report and if the information is not available, explain to regulators why data is not yet there. The SEC will have to check the quality of the report, while the PSE will mine these reports as basis for its Belle Awards, which gives out citations for those compliant firms. The agency will penalize those

Duterte...

C  A

Interestingly, Duterte touched on Diaz’s brush with government intelligence reports two years ago, when a key Duterte aide showed a matrix of people—including Diaz—who are part of a conspiracy to topple the Administration. “It would be good for you to let bygones be bygones and dwell solely on your victory together with your family and with the nation,” the President said. There had been calls for Secretary Salvador Panelo, who showed the matrix, to apologize. Diaz led other members of Team Philippines in the Philippine Airlines Flight PR427 that took off from Narita Airport in Japan. The 30-year-old Diaz was welcomed with two bouquets of flowers from Philippine Sports Commission Commissioners Celia Kiram and Charles

FSCC: PHL on right path, but risk of ‘shocks’ there C  A

“We are definitely better off today than a year ago. However, the ongoing recovery from old risks can generate a new set of potential risks. We need to continuously track these potential systemic risks, and act when warranted,” Bangko Sentral ng Pilipinas (BSP) Governor and FSCC Chairman Benjamin Diokno said. “We make a conscious effort to look at industry-level issues as part of the effort to reduce uncertainties. We will look at other industries but these three are important to our recovery and our future,” he added.

Regular risk assessments SEC Commissioner Kelvin Lester K. Lee

who failed to comply with the rule. “This is the best time to focus on sustainability; there’s a focus on it because of Covid. Now is the perfect time; it is not something we set aside to move forward and say we’ll focus on that...No. it seems that all indications that the interest are there, the focus is there so it is clear that we have to do it, why not now. Sustainability is everyone’s responsibility,” Lee said. Maxey, Philippine Olympic Committee Deputy Secretary General Karen Tanchangco Caballero; and Interior Secretary Eduardo Año, Health Secretary Francisco Duque and Philippine Air Force Commanding General Allen Paredes. Diaz won the nation’s first Olympic gold medal in women’s -55 kgs of weightlifting on Monday night. It was her second Olympic medal after the silver she clinched in Rio de Janeiro in 2016. Also arriving on Wednesday were Team Diaz members Chinese coach Kaiwen Gao, strength and conditioning coach Julius Naranjo and sports psychologist Karen Trinidad. Diaz, who was also promoted to staff sergeant by the Air Force, thanked the PAL cabin crew composed of Captains Rommel Santos and Anthony Fonghe, First Officer Jose Rex Salvilla and Purser Maria Samantha Jacob. Diaz and company no longer talked to the media and were whisked immediately on a bus to the Hotel Sofitel where they will serve a sevenday quarantine. With Samuel P. Medenilla

MEANWHILE, Finance Secretary Carlos Dominguez III said regular systemic risk assessments are needed to enable the government to quickly spot the underlying vulnerabilities of, and anticipate potential threats to, the country’s financial system from the pandemic. “Having a better understanding and view of brewing risks is necessary for calibrated actions and policy interventions. This is the way modern governments should operate. We should anticipate threats rather than merely react to problems after they have broken out,” Dominguez said. The Finance Secretary said the 2021 First Semester Report will help “arm government agencies with the necessary tools to allow them to take swift action against possible risks while discharging full responsibility and prudence in undertaking them.” President Duterte recently institutionalized the FSCC through Executive Order 144 to further ensure the stability of the Philippines’s financial system. EO 144 created the interagency FSCC, with the BSP, Department of Finance (DOF), Securities and Exchange Commission (SEC), Insurance Commission (IC) and the Philippine Deposit Insurance Corp. (PDIC) as its member-agencies.

Biz groups give nod to fresh lockdown C  A

they added. Chua said the primary response of the government is to manage the risks by ensuring a faster vaccination rate as well as limiting stringent lockdowns in local areas or sectors of highest risk. This, Chua said, will allow the rest of the people, especially those already vaccinated, to earn a living. He said the March-April lockdown is a good guide for the government’s response to the lockdown.

No estimates yet

MEANWHILE, Chua said he could not yet provide estimates of how much a two-week stringent lockdown will affect the economy. Further, any adjustments to growth expectations will have to wait until the second quarter growth estimates are released. “On the type of quarantine, [we need to see the analysis of] both economic and health sides before we make a recommendation,” Chua said. “[In terms of targets], I’d rather wait till August 10 [for the] release [of second quarter numbers] before we revisit the targets in light of recent developments.”

’Ghost Month’

PRESIDENTIAL Adviser on Entrepreneurship Secretary Joey Concepcion said August would be the

best time to impose a two-week strict lockdown because it is the “Ghost Month.” Concepcion said the Chinese belief and traditions about Ghost Month often prevent businessmen from making any business deals. Other key business leaders agreed with Concepcion: Philippine Chamber of Commerce & Industry (PCCI) and Exporters Confederation of the Philippines (PhilExport) Chairman George Barcelon; and Federation of Filipino Chinese Chambers of Commerce & Industry Inc. (FFCCCII) President Dr. Henry Lim Bon Liong. They said this will enable the government to reopen the Philippine economy in the fourth quarter and ensure that 2022 will be a year of fast, sustainable economic growth. Bon Liong believes the country’s economic growth would reach 7 percent to 8 percent this year and accelerate to 8 percent to 9 percent next year. “[This will be possible] if we unite, cooperate, if government reforms and vaccinations continue, if we the business sector keep faith, persevere, invest more,” he said. “I foresee global economic recovery and our Philippine election season to boost economic recovery, especially this second half of 2021.” Apart from the lockdown, Concepcion said vaccinations have con-

tinued to accelerate and this will ensure that the economy grows at a faster rate.

Vaccines expected

CONCEPCION said GoNegosyo-led AstraZeneca vaccines for various business groups have arrived while Moderna vaccines are expected in the third quarter. He added the FFCCCII will complete in August its ongoing inoculation with 500,000 Sinovac vaccines nationwide. Further, Bon Liong said the recovery of the United States and Chinese economies will also boost Philippine economic growth. Both countries are considered the country’s top trade partners. With the Regional Comprehensive Economic Partnership (RCEP) agreement in place, the regional economy will remain vibrant in the months to come. He noted that RCEP is the world’s biggest free trade zone which held opportunities for the Philippines. The RCEP was signed by the 10 Asean member-states, as well as Australia, China, Japan, South Korea and New Zealand. Aside from this, there is the Belt and Road Initiative or BRI led by China, including the Beijing-led Asian Infrastructure Investment Bank or AIIB. Bon Liong said the BRI complements the Philippines’s Build, Build, Build program.

www.businessmirror.com.ph

The Nation BusinessMirror

Vaccination of A4 priority group kicks off in Subic By Henry Empeño Correspondent

UBIC BAY FREEPORT—The vaccination program for the A4 priority group composed of frontline personnel in essential sectors and other economic frontline workers in the country started here last Tuesday with five employees of a manufacturing firm getting their first shot of Covid-19 vaccine. The ceremonial launch of the A4 vaccination program was held at the main office of Japanese manufacturer Nidec Subic Philippines Corp., one of the Subic companies which has remained operating in full force amid the Covid-19 pandemic. The first to be vaccinated were Nidec President Kiyoshi Sato, the firm’s General Manager Marissa Tamayo, and factory workers Carol Adamos, Dexter Saludez, and Ruel Fernandez. Present during the ceremony were Deputy chief implementer of the National Action Plan Against Covid-19 Vince Dizon, Department of Health (DOH) Undersecretary Roger Tong-an, Subic Bay Metropolitan Authority (SBMA) Chairman Wilma T. Eisma, Zambales Vice Governor Jay Khonghun, and Presidential spokesman Harry Roque, who also conducted a news briefing later at the vaccination site. Chairman Eisma said the vaccination program is expected to snowball among the registered business locators here and help bring about Subic’s

economic revival. A total of 1,744 companies are located in Subic and employ a total of 138,964 workers as of June this year. “This undertaking is very important because the workers are the backbone of the economy and it is important that we maintain their well-being and safety at all times,” Eisma said. “We are happy that our economic frontliners may now do their work without fear of getting serious effects of Covid-19,” she added. The ceremonial vaccination was organized by the SBMA, DOH, the National Task Force Against Covid-19 (NTF), and the Inter-Agency Task Force for the Management of Emerging Infectious Diseases. Nidec’s top official Sato, meanwhile, said that Nidec employees were honored to be chosen for the launch of the A4 mass vaccination in the Philippines. “Due to the support that we received from SBMA Chairman Eisma, the DOH team and the Philippine government, we are able to provide the vaccine to you all today, free of charge,” Sato told Nidec workers during the ceremony. Nidec has been operating in Subic since 1998 and has invested $100 million to produce hard-disc drive motors and gearboxes mainly for robotics and other automation-related industries. The firm employs 458 workers and plans to increase employment to 800 this year, Sato said.

Editor: Vittorio V. Vitug • Thursday, July 29, 2021 A3

51 cops on SONA field duty test positive for Covid-19 By Rene Acosta @reneacostaBM

ORE than half of the 82 Quezon City policemen who were deployed to secure President Duterte’s State of the Nation Address (Sona) last Monday tested positive for Covid-19, a police official confirmed on Wednesday. Brig. Gen. Antonio Yarra, director of the Quezon City Police, said during a news briefing that 51 policemen, who turned positive of the virus, have been part of the government’s overall security during Duterte’s address. At least 2,000 policemen, who were augmented by soldiers from the military’s Joint Task Force National Capital Region, were deployed during the President’s address before the joint Congress, guarding areas near and surrounding the Batasang Pambansa. A big number of the security contingent were tasked to hold rally participants and protesters along Commonwealth Avenue and prevent them from getting close to the House of Representatives where the President delivered his last SONA. Yarra, however, did not say where the 51 policemen have been deployed during the event, but added they have

also carried out other duties as part of their police functions, thus making it harder to trace those whom they have come into contact with as contact tracing begins. The 52 policemen were part of the 82 members of the Quezon City Police Station 3 located in Talipapa, Novaliches who have been found positive of the Covid-19 although they were reported to asymptomatic. They were among the 161 members of the station who underwent RT-PCR tests. Yarra’s disclosure followed an earlier report of the Quezon City local government on the policemen’s Covid-19 tests results, wherein it also said that those who were positive of the virus have been admitted in different quarantine facilities in the city. In a news statement, the city government said that the 161 policemen were tested on Friday as part of its regular program to conduct “free routine testing of its frontliners who are often exposed and at high risk of acquiring the virus.” Quoting its City Epidemiology Surveillance Unit (CESU) chief, Dr. Rolando Cruz, the city government said a total of 161 personnel assigned to Station 3 were tested, wherein 79 members tested negative. 82 others who were assigned to the Police Station 3 (Talipapa), Police Community

Precinct 1 (Unang Sigaw) and Police Community Precinct 2 (Bahay Toro), tested positive. “The first 48 positive cases were already admitted to several of our HOPE facilities last night, July 27. The other 34 will be admitted today,” Cruz said. The statement said that The CESU is looking into communities near and around the station and the precincts to determine if “granular lockdowns are necessary, given that the source and extent of infection have yet to be identified.” Police Station 3 commander Lt. Col. Cristine Tabdi said the station will remain operational to receive reports or complaints in an outdoor receiving area but will be restricted to the public, and visitations are currently prohibited. Tabdi vowed to investigate how the outbreak occurred in the station. “The city government is prepared to contain the spread of the virus. Our CESU has the capability to deal with this situation. We request the public not to panic, especially the communities in which the precincts where these police personnel were assigned. We are appealing to anyone who is experiencing symptoms to please call 122 and inform CESU imme-

diately,” Mayor Joy Belmonte, for her part, assured. Belmonte directed all 16 station commanders to ensure that minimum health protocols are stringently practiced by their personnel as the country is still in the middle of a pandemic amid a possible surge due of Delta variant cases. At the Manila Police District, its director, Brig. Gen. Leo Francisco reported that six Covid-19 cases have also been recorded in their three police stations, Stations 6, 12, 13, at the District Mobile Force Battalion. He said all of the six policemen are under quarantine. At Camp Crame, officials reported that Covid- 19 took its latest fatality from the police organization in the person of a 40-year-old policeman from Quezon province. Reports reaching PNP chief General Guillermo Eleazar said the patient was rushed to a local hospital on July 24 when he experienced fever and severe headache. He then underwent RT-PCR test, which yielded positive result. On July 26, however, the policeman suffered difficulty of breathing and succumbed while being treated. He was declared dead by the attending physician due to severe pneumonia.

A4 Thursday, July 29, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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PSA adjusts Q2 palay yield forecast to 4.17 MMT By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippine Statistics Authority (PSA) on Wednesday revised downward its forecast for the second quarter palay output, but the total estimate for first half

harvest remains on-track to hit a record level. The PSA said the estimated second quarter palay production, based on June 1 data, is at 4.17 million metric tons (MMT), which is 1.4 percent lower than its earlier estimate of 4.23 MMT using the April 1 figures.

The latest estimate is also slightly 1.65 percent lower than its 4.24 MMT forecast based on standing crops as of May 1. Despite the contraction, the PSA pointed out that the projected palay harvest for April to June remains 1.2 percent higher than the 4.17 MMT

recorded output in the same period of last year. With the latest second quarter forecast, estimated first half palay production is now at 8.79 MMT, from earlier total of 8.87 MMT. Despite the slight contraction, the volume of palay harvest for the first

half is 4.89 percent higher than the 8.38 MMT recorded volume in the January-to-June period of last year. Furthermore, if the 8.79 MMT forecast materializes, it will become the country’s largest palay production for the first half, erasing the 8.71 MMT record in 2018. In the report, the PSA said estimated harvest area for the second quarter may decrease by 0.8 percent to 948,193 hectares from last year’s 955,840 hectares. However, average yield per hectare may increase to 4.4 MT from 4.32 MT in the same period of the previous year, the PSA added. “About 830,120 hectares or 87.6 percent of the standing crop have been harvested,” the PSA said. The BusinessMirror first reported that first half palay production could reach record high due to the expansion in harvest area and yield. (Related story: https://businessmirror.com.ph/2021/07/26/ palay-output-likely-reached-record-high-in-h1/) “We have been working hard toward achieving this production growth. We hope we can do better this second semester,” Agriculture Secretary William D.

Dar told the BusinessMirror via SMS last Sunday. The Department of Agriculture (DA) expressed confidence that it would be able to achieve its target of producing 20.4 MMT of palay particularly if devastating typhoons will not visit the country this year. Government officials and experts attributed the increase in rice harvest to the rice competitiveness enhancement fund (RCEF), which seeks to make Filipino planters competitive against their counterparts in Asean. The Philippines produced a record 19.44 MMT of palay last year, which translates to a self-sufficiency level of 90 percent. This sufficiency level would rise to 95 percent if the government would be able to hit its production target for 2021, the DA said. Due to the expected increase in rice production this year, the United States Department of Agriculture has projected that Philippine rice imports would decline by 14.28 percent to 2.1 MMT. Despite the contraction in volume, the Philippines would remain as the world’s second-biggest buyer of rice for the second consecutive year.

Palace prodded on ₧5-T 2022 national budget bill By Butch Fernandez

@butchfBM

HE Executive department was reminded Wednesday on the need to prioritize funding economic recovery in the Palace-proposed P5trillion 2022 national budget to enable the country to quickly bounce back amid a lingering pandemic. Sen.Juan Edgardo Angara, chairman of the Senate finance committee tasked to review and endorse the annual budget for plenary approval, suggested an option for the Executive to adjust funding priorities following initial review of the annual budget bill. Angara asserted the need for the Executive to have designed the national budget to ensure speedy delivery of programs and projects, not because the Duterte administration is nearing the end of its term, but due to the crying need for government to effectively ease the burden borne by the public ensuing from the pandemic. The senator raised the lingering Covid-related concerns following reports

on the P5.024-trillion proposed 2022 budget bill crafted by Malacañang’s economic managers is 11.5 percent higher than this year’s P4.5-trillion national budget. Lawmakers learned that the proposed annual budget bill has been submitted to President Duterte for initial approval before its submission to Congress for enactment into law. According to Angara, legislators are aware of the need to fast-track the annual money measure, more so now that the lingering pandemic, reported to have a “Delta variant” that quickly spreads, require funding to contain effectively and avert its spread immediately. The senator also reminded the need to fast-track the vaccination drive and release the approved budget for the pandemic control efforts, adding that under the law, Malacañang needs to submit to Congress the proposed annual budget within 30 days from the time Congress convened sessions Monday, or until August 25.

Arta chief backs call for passage of E-Governance Act amid Covid

HE Anti-Red Tape Authority (Arta) has echoed the President’s call for the passage of the E-Governance Act. Arta Secretary Jeremiah Belgica said the bill would help institutionalize the transition of the government to e-governance amid challenges posed the Covid-19 pandemic. The measure mandates the government to establish an integrated, interconnected, and interoperable information and resource-sharing and communications network span-

ning the entirety of the national and local government. “We join President Duterte in his renewed call for the passage of the E-Governance Act. We have seen the importance of automation amid this pandemic and we pledge to assist government agencies in their transition toward digitalizing their services,” he said. The bill also aims to create an internal records management information system; an information database; and digital portals for the delivery of public services. It also pushes for the digitization of paperbased and other traditional modes of workflows for a more efficient and transparent public service. Cai U. Ordinario

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Senator Gordon tests positive for Covid-19 By Claudeth Mocon-Ciriaco @claudethmc3

HILIPPINE Red Cross (PRC) Chairman and CEO Senator Richard J. Gordon has tested positive for Covid-19. Gordon, who has been fully vaccinated against the virus, said that he received the news from the PRC molecular laboratory that his RTPCR showed Covid positive result. “I am feeling slightly under the weather but am exhibiting no other symptoms as of now and my doctor has advised me to rest and isolate at home. I will continue to observe my symptoms and report any significant changes to my doctor,” Gordon said in a news statement released on Thursday. Gordon said that he made the announcement in order to speed up the contact tracing process and call on anyone who may have had contact with him to isolate immediately and get tested by RT-PCR five to seven days after said contact. “I have been fully vaccinated and am grateful for the protection the vaccine affords me today. While infections in vaccinated people are relatively uncommon, they can and do happen. What vaccines offer has been documented in countries with high rate of vaccination...protection

against serious illness, hospitalization, and death.” He stressed that vaccines work and “they save lives.” “I urge every Filipino to get vaccinated against Covid-19 if a vaccine is made available to you by your local government units, your employer, the Red Cross, or any other organization that has access to vaccines. I call on the government, private sector, and humanitarian and civic organizations to work together to bring more vaccines into the country so that we can get as many people as possible vaccinated,” he added. Gordon pointed out, “We are at war with an invisible enemy.” “Protecting our loved ones and ourselves is our best chance to win this battle. For as long as large numbers of people remain unvaccinated, the virus will creep into our homes and communities and destroy lives and livelihood,” he stressed. Gordon also reminded everyone that the most effective protective measures remain the same and must be practiced at all times—wear a mask, observephysical distancing, and wash/ disinfect your hands regularly. “These protocols should remain in place even for vaccinated people for as long as the majority of the population has not been vaccinated,” he said.

DOA: Drilon says Cha-cha under Duterte is doomed By Butch Fernandez @butchfBM

HE revived Charter-change (Cha-cha) scheme under the Duterte administration, billed to tinker with its economic provisions purportedly to lure foreign investors, has been pronounced declared “dead on arrival,” or DOA, according to Senate Minority Leader Franklin M. Drilon. Drilon predicted Wednesday that DOA would be the same fate that awaits any move to revive the Chacha scheme amid lingering suspicion it could also be a ruse to tinker with provisions on existing term limits affecting incumbent officials barred from reelection. Drilon affirmed that no senator is likely to “do the Cha-cha,” indicating the certain fate of any fresh move to revive it will not prosper given the early consensus. Most senators had stressed earlier that if a Charter-change were intended to make the economy more

competitive and draw in investments, then that goal can very well be achieved by the so-called liberalization trio of reforms pending in the chamber—amendments to the Public Service Act, Foreign Investments Act and the Retail Trade Liberalization law. Duterte repeated his support for these in his last Sona. Saying that Cha-cha could be likened to a “virus” that keeps on reviving, Drilon said Charter revision is not in the Senate agenda. As proof, Drilon added that in the recent senators’ caucus to finalize the Senate legislative agenda, “not one senator” was pushing the Charterchange scheme. He also noted that even in the “two hours and forty-five-minute State-of-the-Nation Address” (Sona) of President Duterte last Monday before the joint session of Congress, the President did not even “mention Cha-cha even for only one minute.” To him, Drilon suggested it should be read as “a clear signal the President was not keen to dance the Cha-cha.”

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Pandemic drives global demand for Pinoy HCWs–POEA chief By Samuel P. Medenilla @sam_medenilla

EMAND for Filipino nurses have more than doubled since the onset of the Covid-19 pandemic last year, according to the Philippine Overseas Employment Administration (POEA). In an online news briefing on Wednesday, POEA Administrator Bernard P. Olalia disclosed more countries are opening their doors

to additional Filipino health-care workers (HCW). “Our usual annual deployment pre-pandemic is around 12,000 to 15,000. But these JO [job orders] have now more than doubled,” Olalia said. He noted “traditional markets” like the Kingdom of Saudi Arabia, United Kingdom, Germany, and Japan has increased their JOs for Filipino HCWs. Likewise, he said, several “nontraditional markets,” which includes

Hong Kong, Singapore, Qatar, Kuwait, and Oman, are now interested in hiring Filipino HCWs. “So our challenge now is to balance the international demand for nurses and our domestic needs,” Olalia said. POEA imposed earlier this year a 5,000 deployment cap for HCWs to ensure the country will still have a sufficient pool of medical personnel for the country’s Covid-19 response. Last month, the Inter-Agency Task Force for the Management of

Emerging Infectious Diseases (IATF) opted to increase the said cap by another 1,500 upon the request of the Department of Labor and Employment and other stakeholders. Olalia said they expect to exhaust all of the additional slots by August. He said they are already coordinating with the IATF with the possibility of increasing once again the said deployment cap to provide more Filipino the opportunities to work abroad.

Mabalacat City mayor cites economic, health, other gains in SOCA

ABALACAT CITY—Amid the continuing pandemic, better revenue sources, sustained livelihood assistance, improved medical benefits and social services have been posted in the past year as Mayor Crisostomo C. Garbo reported in his State of The City Address (SOCA) that also hinted on an early attainment of herd immunity. In the SOCA delivered on Wednesday before members of the Sangguniang Panlungsod (SP) and other city executives, the mayor said that the local economy remained strong with revenues increasing from P1.77 billion in 2019 to P1.80 billion in 2020. The figures include Internal Revenue Allotment, local business taxes and fees, and this city’s share from Gross Income Earned from Clark locators where 2 percent accrue to Mabalacat being the host local government unit. “I would like to thank everyone, especially our business sector for assisting our city to bounce back to progress and stability,” Garbo said in his speech. Garbo reported that local income sources also rose from P214 million in 2019 to P234 million in 2020 despite the series of lockdowns and mobility restrictions that impacted the local economy due to Covid. Collection of local business tax also peaked from P122 million in 2019 to P167 million in 2020. The local chief executive, bearing in mind the commitment last year to improve on social services in previous SOCA, also chalked up significant achievements in social services, livelihood and health programs. Under the city’s Assistance to Individuals in Crisis Situation (AICS) Program, about 9,000 individuals from the P76.3 million funding. This includes 7,246 persons in need of medical assistance, 392 needing burial assistance, and

MABALACAT City Mayor Crisostomo Garbo delivers his 3rd State of the City Address before the members of Sangguniang Panlungsod and the people of the city via digital platform on Wednesday, July 28, 2021, at the Mabalacat City Legislative Hall. Mayor Garbo cited better revenue sources, sustained livelihood assistance, improved medical benefits and social services which are instrumental in countering the impacts of the continuing pandemic in the city. PHOTO COURTESY OF MABALACAT CIO

1,200 beneficiaries in need of educational assistance. “On health program, a total of 7,865 persons were checked for their health conditions in our rural health units and health centers. On the other hand, our Central Pharmacy had dispensed medicines, vitamins and supplements to 10,538 Cabalens,” Garbo said. He also reported that there have been 250 beneficiaries of P4,000 financial assistance, most of whom are bed-ridden he visited and personally prayed for in their homes. “As also pledged last year, recipients of social pension also increased to 1,000 individuals. Due to Covid-19, we are bringing these social pensions right at their doorsteps,” Garbo said. As of May 2021, a total of 2,000 senior citizens aged 85 years old and up were assessed and were already provided with social pensions

amounting to P500 per month or P1,500 quarterly. Meanwhile, a total of 103 senior citizens who have reached 85 years old and above were also given assistance of P20,000 each, stipulated under Ordinance 86. In the continuing fight against Covid-19, Garbo said that a total of 50,000 Mabalaqueños have been inoculated against Covid-19 in the city and about 9,000 people have already completed their second doses. The city has a population of 293,244 based on the 2020 Census of Population and Household of the Philippine Statistics Authority. Its target herd immunity level is pegged at 60 percent of the residents or a total of 174,000 Mabalaqueños. Under its Covid-19 Response and Integrated System Program, the city makes use of new modalities in the detection and treatment against the virus.

“This is a holistic and a ramp-up program marking a well-defined Covid-19 response framework in four important facets—Prevention, Tracing, Isolation and Reintegration,” he said. Furthermore, the mayor also noted the success of digital hubs (DigiHub) he pledged in last year’s SOCA. These are computer centers in clustered barangays that have dual usage—for learning as well as for registration of residents for vaccination. These facilities have also been cited as the basis for Mabalacat City College to be the only Philippine school to be in the shortlisted nominees in The Times Higher Education Awards in Asia. The DigiHub also won among 156 entries in the Southeast Asian Ministers of Education Organization Congress 3 months ago. For the past year, Garbo also recalled the recognition given to the city. These include its fifth Seal of Good Local Governance from the Department of the Interior and Local Government (DILG), Highest Polio Coverage City Level from Department of Health, Best Practices on Social Services, Model LGU Implementing Day Care Services, and ALIW Awards for the Caragan Festival staged shortly before Covid-19 restrictions were imposed in February 2020. The mayor also disclosed that the city is gunning for the Galing Pook Awards 2021, a competition for the most innovative and timeresponsive programs implemented by LGUs across the Philippines. The DILG and the Local Government Academy has formally confirmed the receipt of the entries, which tackles the importance of health, education, and social services programs in countering the impacts of the pandemic in Mabalacat.

Hidilyn fever rages in House: No tax bill for national athletes filed By Jovee Marie N. Dela Cruz

1-PACMAN Party-list, P2.5 million from Zamboanga City, P5 million cash and free fuel for life from Phoenix Petroleum, P14 million residential condominium unit in Eastwood, Quezon City from Megaworld, P4-million house and lot from Century Properties and house and lot in Tagaytay from Philippine Olympic Committee. Diaz will also receive lifetime free flights from AirAsia Philippines and 80,000 free miles per year for life from Philippine Airlines.

@joveemarie

SIDE from the congressional award, House Committee on Ways and Means and Albay Rep. Joey Salceda on Wednesday filed the “Hidilyn Diaz Act of 2021,” exempting monetary donations and rewards in favor of national athletes and coaches from taxes. Salceda said his proposal seeks to amend Republic Act 10699, or the National Athletes and Coaches Benefits and Incentives Act. The bill proposes to insert a new section in the said law to provide “exemption of rewards, bonuses, and other forms of emoluments in favor of national athletes and coaches who compete or win international sports competitions as defined in this act from any and all taxes, fees, and charges levied by any government agency, local or national, subject to the rules and regulations to be issued by the Secretary of Finance, as recommended by the commissioner of Internal Revenue.” “The honor that Filipino athletes

Cash gifts have brought to the country this year is immense and historic. So unprecedented is this honor that it appears our laws were unable to anticipate the outpouring of material solidarity from different sectors of society for our winning athletes and coaches,” said Salceda. “In view of the need to recognize this historic win, and to express the State’s solidarity and congratulations for our winning athletes and

coaches, this bill will exempt rewards for national athletes and coaches who compete or win in international sports competitions from any and all taxes, fees, and charges,” he added. Diaz is expected to receive incentives and rewards: P10 million as mandated by Republic Act 10699, P10 million from San Miguel Corporation, P10 million from MVP Sports Foundation, P3 million from Deputy Speaker Mikee Romero of

IN a news conference, Deputy Speaker Michael Romero, meanwhile, said lawmakers are eyeing to raise P5 million to P10 million cash for the Filipina weightlifter. According to Romero, Speaker Lord Allan Velasco has initiated the move by giving P200,000. “He [Velasco] is now passing the hat to every congressmen and congresswomen for additional cash incentives for Diaz,” the house leader said. He said 40 lawmakers have pledged to give money.

Commendation

DEPUTY Speaker and Cagayan de Oro City Rep. Rufus Rodriguez, meanwhile, filed House Resolution 2019 asking the House to congratulate and commend Mindanaonon Diaz for winning the country’s first Olympic gold medal at the Tokyo Summer Olympics last Monday. “Hidilyn Diaz is a true inspiration to many Filipinos and she has definitely shown that Filipinos can compete with the best of the world and excel at the highest level,” he said in Resolution 2019. He said the Filipino weightlifter’s triumph “was even more impressive, given that she has been away from home and was stranded in Malaysia since February 2020 due to the Covid-19 global pandemic.” “In her temporary home, Hidilyn had to improvise and train with makeshift equipment because of the travel restrictions and closure of gyms. She began training only with barbells made from plastic pipes with cast concrete weights at either end,” Rodriguez said.

Legion of Honor

DEPUTY Speaker and Las Piñas City Rep. Camille Villar also on Wednesday urged President Duterte to confer the Philippine Legion of Honor to Diaz. As the country prepares for a hero’s welcome for Diaz, Villar filed House Resolution 2020 to congratulate and commend the Filipino weightlifting star for her unprecedented victory, which brought hope in this time of pandemic. “It is high time to confer to the four-time Olympian the Philippine Legion of Honor [Lehiyong Pandangal ng Pilipinas] for her heartwarming victory and for uplifting national glory and pride in the world sports stage,” Villar wrote in the resolution. The Philippine Legion of Honor, considered the highest award the President can bestow without the need for approval by Congress, is conferred upon civilians or members of the military, Filipino or foreign, in recognition of valuable and meritorious service in relation to military affairs of the Philippines. With Rene Acosta

News

BusinessMirror

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‘BUSINESSMIRROR’ HAULS IN 4 MAJOR BRIGHTLEAF WINS T

HE BusinessMirror made history anew as the first broadsheet to haul in four major awards in a single edition of the annual Bright Leaf Agriculture Journalism Awards. The four awards, given out in virtual rites at the Awards’ 14th edition on Wednesday, include the coveted Oriental Leaf Award (Hall of Fame). BusinessMirror’s agriculture and commodities reporter Jasper Emmanuel Y. Arcalas was given the Oriental Leaf Award, after winning five Bright Leaf Awards across various categories. With the award, the 25-year-old Arcalas becomes the eighth journalist to be inducted to the elite Bright Leaf Awards Hall of Fame. He is the second Bright Leaf Hall of Famer from the BusinessMirror after Mauricio Victa, who was inducted in 2015. Arcalas won his first two Bright Leaf Awards in 2017 after topping the Best Agriculture News Story (National) and the Best Agriculture Feature Story (National) categories, a feat he repeated in 2018. He won his fifth Bright Leaf in 2019 after a story he coauthored won the Best Tobacco Story of the Year award. BusinessMirror veteran reporter Cai U. Ordinario bagged two Bright Leaf honors this year: first, the Best Tobacco Story of the Year for the story “Gold leaf farming sector still searching for own El Dorado,” that tackled the struggles and opportunities in the tobacco industry. (Read story here: https://businessmirror. com.ph/2020/12/03/gold-leaffarming-sector-still-searchingfor-own-el-dorado/) Ordinario also won the Best Agriculture News Story (National) for the investigative piece “Pre- and post-rice trade liberalization law, big traders gaming farmer groups.” The story discussed the impact of rice trade liberalization law and

exposed the scheme by unscrupulous traders to use farmers cooperatives to import rice. (Read story here: https://businessmirror. com.ph/2019/10/31/pre-andpost-rice-trade-liberalizationlaw-big-traders-gaming-farmergroups/) Both stories were Broader Look pieces that she co-authored with Arcalas supervised by BusinessMirror Senior Editor Dennis D. Estopace. Ordinario has won a total of three Bright Leaf awards to date. Photojournalist Erwin Mascariñas won his third Bright leaf award after bagging this year’s Agriculture Photo of the Year for his photo titled “Fish Drying” that captured the abundance of fresh seafood and dried fish in the small island village of Halian in Surigao del Norte. The photo was published in the BusinessMirror’s tourism page with the story titled “Exploring Siargao’s hidden island paradise of Halian.” (See story here: https://businessmirror. com.ph/2021/02/06/exploringsiargaos-hidden-island-paradiseof-halian/) Mascariñas won the same category in 2016 and 2017. “Your stories are the stories that matter to us. Your eyes are our window to our farmers’ plight. Your masterpieces are a reminder of the industry concerns we should pay attention to,” PMFTC Inc. Communications Director Dave Gomez during the event held via Zoom. The 14th Bright Leaf Journalism Awards—with the theme “Reimagining Tomorrow”—saw more than 600 entries across various journalism mediums that include radio, TV, print and online. “This year’s theme, ‘Reimagining our tomorrow’ is very apt for us, at PMFTC and the Bright Leaf community. Our agility to adapt and pivot were tested in this unprecedented global crisis,” said PMFTC President Denis Gorkun.

www.businessmirror.com.ph

Courts’ delay in resolving commercial cases scored T

By Joel R. San Juan

@jrsanjuan1573

HE Department of Finance (DOF) has cried foul over the “questionable” and “deliberate” delay in the resolution of commercial cases pending in various courts in the country.

The Office of Court Administrator headed by Court Administrator Jose Midas P. Marquez said it has received a letter from Finance Secretary Carlos G. Dominguez III urging his office to compel trial courts to comply with their mandate to resolve cases within the required period, considering the delay in resolution of various commercial cases such as rehabilitation, insolvency, and liquidation cases, among others. The SC, through Marquez, whose office supervises all lower courts, acted on Dominguez’s letter that was sent to the Office of the Court Administrator (OCA).

In his letter, Dominguez cited the case of Land Bank of the Philippines “a creditor party in numerous rehabilitation and insolvency proceedings, where there appears to be a questionable trend of unwarranted delay and/or circumvention of court proceedings.” He also said that “some case proceedings may have been deliberately delayed” and “have remained pending for more than one year without any approved rehabilitation plans.” Under Section 72 of Republic Act No. 10142, the law on the Rehabilitation or Liquidation of Financially Distressed Enterprises and Individ-

uals, designated commercial court judges have one year to act on the cases brought before them. In light of this, Marquez issued OCA Circular No. 105-2021 “strongly” reminding all judges of the Special Commercial Courts and those handling commercial cases to adhere to Section 72 of RA 10142. Marquez also enjoined all commercial court judges to “remain in full control of the proceedings in their sala and...adopt a firm policy against improvident postponements.” He warned that failure to comply with the one-year limit for deciding cases constitutes gross inefficiency and warrants the imposition of administrative sanctions against erring judges. A total of 147 regional trial courts (RTCs) in the country have been designated by the SC as special commercial courts (SCC)— spread across 12 judicial regions in the country—to handle exclusively cases like rehabilitation, insolvency and liquidation filed

by firms and individuals. The designation of SCCs started in 2000 with the passage of Republic Act No. 8799, the Securities Regulations Code, which transferred to the courts the jurisdiction of cases erstwhile cognizable by the Securities and Exchange Commission (SEC). Initially, SCCs have jurisdiction over commercial cases like intracorporate disputes, issuance of search and seizure in civil actions, admiralty and maritime laws, dissolution of partnerships, financial rehabilitation, and liquidation, among others. Later, cases involving intellectual property were added to the SCCs jurisdiction. In late 2016, the SC further designated the SCCs as cybercrime courts for cases involving the Cybercrime Prevention Act under Republic Act No. 10175. In 2019, the jurisdiction of the SCCs was expanded to cover issues involving the Philippine Competition Act under RA 10667.

Chip shortage seen lasting until 2022 By Cai U. Ordinario @caiordinario

HE ongoing semiconductor chip shortage is expected to persist until 2022 despite manufacturer’s commitments to boost production, according to Moody’s Analytics. In its latest analysis, “What to Expect: Semiconductor Chip Shortage,” Moody’s Analytics Associate Director Timothy Uy also said some sectors will be more affected than others. However, Uy expects car manufacturers to be “relatively unscathed” since these companies were able to build their inventory to cushion any short-term supply issues. “The manufacturing process for each generation of chips is incredibly intricate, meaning, that generating new supply for any chip generation is challenging,” Uy said. “And because chips from different generations are manufactured differently, building new plants that focus on certain chips may only alleviate the shortage for consumers of those chips, and not necessarily alleviate the shortage for the market as a whole,” he added. Uy explained this by citing USbased company Global Foundries as an example. He said it takes this company 85 days to produce chips from raw materials and that this requires thousands of steps that are done electronically. In this company, there can be as many as 10 different kinds of chips that are being processed at any one time. Any change in this process, such as a transfer of fabrication plants, will not only be costly but time-consuming. Uy also said Intel, which plans to expand its operations, will not be able to produce the kinds of chips other firms are using, and would only be able to use chips that it has produced. This may not sit well with the needs of companies like Taiwan Semiconductor Manufacturing Co.

(TSMC) which plans to upgrade its chips to three nanometer nodes from the current five. This is the plan in order for TSMC to serve the needs of high-end chip technologies needed for products such as those produced by Apple. Apart from this, concerns over rising digitization of home and the workplace will exacerbate the existing chip shortage, spiking demand for high-end chips. “The capital investments made to move to the cloud and digitize operations are likely to only increase over time, fueling further demand for semiconductors, particularly those at the top end of the spectrum,” Uy said. “To truly get around the current shortage, companies need to have business continuity programs that mitigate the risks associated with these supplychain challenges,” he added. The health of the semiconductor industry is important for the Philippines as its top export and imports are semiconductors. Latest external trade data from the Philippine Statistics Authority (PSA) said exports of semiconductors grew 12 percent to $12.22 billion in January to May this year from $10.9 billion in the same period last year. In May alone, semiconductor exports grew 11.3 percent to $2.53 billion in 2021 from $2.28 billion in 2020. Semiconductors accounted for 43 percent of the country’s exports in May 2021 and 50.1 percent in May 2020. In terms of imports, the country’s semiconductor payments grew 17.6 percent to $8.28 billion in January to May 2021 from $7.04 billion in the same period last year. In May alone, PSA data showed semiconductor imports grew 19.5 percent to $1.67 billion in May 2021 from $1.4 billion in May 2020. Semiconductors accounted for 19.3 percent of total imports in May 2021 and 23.9 percent in May 2020.

GIGA VACCINATION CENTER People await their turn to be vaccinated against Covid-19 on Wednesday at the Pasay-MOA Giga Vaccination Center at the Galleon. The biggest vaccination hub in the Philippines can accommodate more than 2,000 individuals per day. The Pasay City government has partnered with SM Mall of Asia for the Giga Center. ROY DOMINGO

‘Non-existent, incomplete projects’ in BARMM cited

‘W

HERE are the promised developments in the Bangsamoro Autonomous Region in Muslim Mindanao? Many projects they are bragging about are incomplete or outright nonexistent. One need not look far: in Maguindanao itself where the seat of power is situated, these findings hold true.” This was the statement made by Transform PH Alliance (TPA), a movement for a transformed Philippines, in a press statement released to the media. TPA cited a P25-million town hall project in South Upi in Maguindanao which had a groundbreaking ceremony in April this year but for which “not a single hollow-block is set in place.” Aio Bautista, TPA president, said, “This is not uncommon in BARMM. Also in Maguindanao, a 700-meter road project in Bongo Island in Parang town which broke ground in February this year started construction but was abandoned early on,” Bautista stated. Republic Act 11054 signed by President Duterte into law on July 26, 2018 set up the BARMM.

Despite the P160 billion in public funds poured into the region from 2020 to 2021, “the rest of the country is yet to see a completed project and real change in BARMM,” according to Bautista. “In its own press release, BTA admitted they have only started giving scholarship benefits to a handful of students, 1,200 at that, belatedly just this month when the school year already ends,” he stated. Bautista also disclosed that public school teachers have not been getting their monthly salaries on time for several months already. “Thousands of teachers . . . have to suffer waiting for three up to six months before they get to receive their salaries. We know it has been a practice in the region ever since, but with BARMM it should change; we expect no less, and yet they’ve spent P6 billion for office supplies and materials in just one year?” he asked. “Don’t get me wrong, our group wants BARMM to succeed, but it can only be realized through transparency.” Bautista said they welcome the move of Sen. Imee Marcos to file

Senate Resolution No. 729, directing the Senate Committee on Finance to conduct an inquiry into the expenses on rehabilitation, development projects of conflictaffected community in the region, as “there is too little progress and change in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).” Under the Genera l Appropriations Act (GAA) of 2020, the BARMM was allocated an annual appropriation of P7 billion, an Annual Block Grant of P63.6 billion, and a Special Development Fund of P5 billion. Under the 2021 GAA, the BARMM also received an annual appropriation of P8.6 billion, an Annual Block Grant of P71.6 billion, and a Special Development Fund of P5 billion. “Prior to the establishment of the BARMM, the Autonomous Region in Muslim Mindanao (ARMM) was allocated an annual appropriation of P32.4 billion and Adjustments of P7.2 billion with Total Available Appropriations of P39.7 billion,” Marcos said. “Thus, compared to the ARMM appropriation of only P39.7 billion,

the total BARMM allocation was higher, amounting to at least double the amount of the budget allocated to the ARMM,” Marcos said earlier. “Despite these allocated appropriations, there is too little progress and change in the BARMM.” “With the huge appropriations made in the GAA for 2020 and 2021, it is imperative for Congress to determine the status of the projects implemented especially since the Bangsamoro Government is still in its transition stage,” Marcos added. “It is also important for Congress to be informed on the progress of the transition process, implementation of programs and the proper utilization of funds, as well as the reasons for delay which are not attributable to the dire effects of the Covid-19 pandemic and to determine other legislative measures, if necessary, to be legislated by Congress in order to promote the long-term vision of meaningful growth in the Bangsamoro Region.” The BTA is asking Congress for a postponement of their election from 2021 to the year 2025.

Editor: Dennis D. Estopace

TheBroaderLook BusinessMirror

Thursday, July 29, 2021

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No parting from debt: PHL to carry weight of borrowing post-Duterte By Cai U. Ordinario @caiordinario

ERE comes the sun, thanks to Olympic gold medalist Hidilyn Diaz.

As Diaz lifted a combined 224 kilograms it felt a weight, albeit temporarily, was lifted from the shoulders of a country hunched with the heavy load of debt. Indeed, as the rains at Monday’s dusk drowned the droningon of President Duterte during his last State-of-the-Nation Address (Sona), the republic faced the danger of debilitating debt. Finance officials have said that the Philippines could see the ratio of debt to gross domestic product (GDP) to tip the scale at around 58.7 percent. The borrowings were spurred by the inability of government to raise funds as the economy went into a recession. The latter is pinned on the government economic team’s decision to stop the economy’s gear from running to stem the spread of Covid. Indeed, 70 percent of all economic activity ceased after strict lockdown measures were imposed in March last year. The quarantine restrictions continue and a déjà vu of 2020 is imminent given the threat of the Delta variant and continued increase in Covid-19 cases. This is akin to an ouroboros: lockdowns cause a decline in revenues but easing restrictions sparks infection and restricting mobility a logical option. And, like Diaz before the Tokyo games, government had to seek financial support. In the latter’s case, the easiest is borrowing.

Key lenders

MULTIL ATER AL development banks have been part of the country’s growth and development story for many decades. These organizations have provided much of the infrastructure that we see today through Official Development Assistance (ODA) grants and loans. As of June 2020, National Economic and Development Authority (Neda) data showed that the country has a total of $26.21-billion ODA grants and loans. The bulk of these ODA, $24.6 billion, are loans from various bilateral and multilateral organizations. The Asian Development Bank (ADB), World Bank and the Asian Infrastructure Investment Bank (AIIB) are the three top multilateral development banks the country relied on for its ODA loans and grants. Preliminary data from NEDA showed that as of June last year, the country received $6.96 billion from the ADB, $4.9 billion from the World Bank and $957.6 million from the AIIB. Tokyo is the top ODA source of the country during the period, with commitments amounting to $10.03 billion. Last Tuesday, the Philippines secured another loan from the ADB, this time to support efforts to plug youth unemployment and underemployment. The ADB Board has approved a $400 million policy-based loan to finance the “Facilitating Youth School-to-Work Transition” program, “Subprogram 3.”

Up to $9.19B

THE program builds on nearly a decade of the ADB’s support to the government in shortening the time at-risk young Filipinos spend to find work after leaving school. The amount, to note, is on top of the existing loans the country has secured from the ADB. Based on the 2019 ODA Portfolio Review, the Philippines already owed $5.6 billion to the Manilabased multilateral development bank. The amount covered active loans as of December 2019. However, not all these loans were signed by the Duterte administration. Of the amount of active loans as of the end of 2019, the Duterte administration signed $4.3 billion. Several loans were also granted by the ADB to the Philippines in the years 2020 and 2021. Approved loans last year—discounting regional technical assistance projects where the country received f und ing and g rants— amounted to $4.49 billion (about P226.05 billion at current exchange rates). The largest loans obtained were for the “Covid-19 Active Response and Expenditure Support” program. The ADB provided four loans for the project consisting of two $250-million worth loans and two loans worth $500 million each. With all these loans, the Philippines owed the ADB a total of $9.19 billion (around P462.67 billion). This comprises loans obtained by the Duterte administration since it assumed office in 2016 until the loan approved by the ADB last Tuesday.

Most disadvantaged

MEANWHILE, the Philippines had a total of $4.25 billion worth of loans from the World Bank based on the 2019 “ODA Portfolio Review.” However, of these loans, those signed under the Duterte ad m i n ist rat ion a mou nted to $1.59 billion. Since the end of December 2019, the World Bank had approved another $5.04-billion worth of loans for the Philippines. This is based only on commitment-amounts of the Washington-based lender on various projects. Of these loans, the largest had a $600-million worth price tag. There are three loans with this amount: the “Promoting Competitiveness and Enhancing Resilience to Natural Disasters Subprogram 2 Development Policy Loan,” or DPL; the “Beneficiary First Social Protection” project; and, the “Philippines Covid-19 Emergency Response” project. The World Bank said the DPL aims to help the Philippines “recover from the pandemic by adopting digital technologies, promoting greater competition and reducing the costs of doing business” to revive more economic activities and jobs in the country. The project aims to help small and medium enterprises bounce back from the pandemic, help citizens cope with social distancing measures and other health

BM GRAPHICS: JOB RUZGAL

protocols and improve delivery of social assistance to the most disadvantaged groups in society.

Innovative, responsive

THE “Beneficiary FIRST Social Protection” project sought to mitigate the impact of Covid-19 on the welfare of low-income households and strengthen the social protection (SP) delivery system of the Department of Social Welfare and Development (DSWD) to be “adaptive and efficient.” It was intended to provide continuing support to the DSWD to implement the “Pantawid Pamilyang Pilipino” program (4Ps) and pursue “fast, innovative and responsive service transformation,”

or “First,” for beneficiaries. For the “Philippines’s Covid-19 Emergency Response” project, the World Bank said the funds were intended to help the national government purchase and distribute Covid-19 vaccines. It also aims to strengthen the country’s health systems and overcome the impact of the pandemic, especially on the poor and the most vulnerable. Given all these loans approved and signed during the current administration, the Philippines owed the World Bank $6.63 billion.

Loans from AIIB

AS for the AIIB, the Philippines only has three loans, for which it

owes the AIIB a total of $1.26 billion for three projects. The first loan, approved in 2017, is for the “Metro Manila Flood Management” project worth $207.6 million. The loan will be used for the project that will focus on 56 potentially-critical drainage areas with an approximate land area of 11,100 hectares or over 17 percent of Metro Manila’s total area. It a lso aims to moder nize drainage areas, minimize solid waste dumped in water ways and help in land acquisition and site development for housing resettlement. The AIIB said the project will benefit some 3.5 million while

the direct project beneficiaries, i.e., those adversely affected by regular flooding, are estimated at 1.7 million. The second loan from the AIIB is the “Covid-19 Active Response and Expenditure Support,” or “Cares,” program worth $750 million. The project, approved in 2020, is being cofinanced with the ADB. The primary objective of the project is to mitigate the adverse impacts of Covid-19 on the health and economic opportunities of the population of the Philippines by providing budgetary support to the government’s pandemic-response activities. Continued on A8

TheBroaderLook BusinessMirror

Thursday, July 29, 2021

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No parting from debt: PHL to carry weight of borrowing post-Duterte Continued from A7

The Cares program is financed by a policy-based loan under its “Countercyclical Support Facility Covid-19 Pandemic Response Option,” or CPRO.” The program will provide critically needed support to help the Government of the Philippines mitigate the severe health, social and economic impact caused by the pandemic.

ODA concessions

THE third and latest AIIB loan is the $300-million second “Health System Enhancement to Address and Limit Covid-19 under the Asia Pacific Vaccine Access Facility” project, referred to as “Heal 2.” The AIID approved the loan this year. The fund is also being cofinanced with the ADD under its “Asia Pacific Vaccine Access Facility,” or “Apvax,” program. The project will provide critically needed vaccines to assist the Philippine government in mitigating adverse health, social and economic impacts caused by the Covid-19 pandemic. The loan will be cofinanced with the ADB as the lead cofinancier. The project’s env ironmental and social (ES) risks and impacts have been assessed in accordance with ADB’s Safeguard Policy Statement (SPS), according to the lender. A l l t hese loa ns a re just a fraction of what the government owes. There are other development partners who have extended significant amounts in loans to the countr y to undertake projects and programs bet ween 2016 and 2022 and even beyond. Part of the reason for the attraction of obtaining ODA loans is the concessional nature of these loans. This feature is crucial for countries like the Philippines to be able to have the ability and flexibility to repay these loans.

Securing loans

ODA partners provide low-interest rates and longer repayment periods with grace periods to boot. Some of the Philippines’s bilateral partners, like the Japanese government, charge interest rates of below 1 percent and have repayment periods of 15 to as long as 40 years. This arrangement is sometimes on top of grace periods—or years when the country does not need to pay for the loan—of five years to as much as 10 years, relative to the loan. For the ADB, the Philippines, like the Cook Islands, Georgia, India and Indonesia, is classified as a C1 country. These countries are composed of small island developing states (SIDS) and lower middle-income countries (LMIC). To date, the Philippines is classified as an LMIC. T he concessional loans received by these countries are from the ADB’s Ordinary Capital Resources (OCR). As such, the C1 countries “need the least ‘concessionality’ when they secure ODA loans. The average loan maturity of ADB loans is anywhere from 24 years to 40 years with a grace period of 5 years to 10 years, depending on the loan. In terms of interest rates, these average anywhere from 1 percent to 2 percent during the grace period while during amortization, the rate is an average of 1.5 percent to 2 percent.

Not fazed

T HE World Ba n k , mea nwh i le, charges interest rates for loans obt a ined by t he Ph i l ippines. T h e s e r a t e s a r e c o nt i n g e nt on mat u r it y a nd t he c u r renc y comm it ment. Some loans have a variable spread that are charged with a base interest rate, usually at Libor (London Interbank Offered Rate) plus 0.46 percent to 0.96 percent. Loans w ith a fi xed spread are charged with a base interest rate, usually the Libor, plus 0.70 percent to 1.5 percent. World Bank loans have a maximum final maturity of 30 years while the maximum average repayment maturity is pegged at 18 years. Based on the 2019 loan terms of the AIIB with the Philippines from the NEDA, the bank charges a base lending rate (Libor) plus add it iona l 0.75 percent to 1.40 percent, contingent on matur it y. The AIIB also charges a onetime front-end fee at 0.25 percent on the committed loan amount. The Commitment fee is 0.25 percent charged on the undisbursed loan balances. The commitment fee can increase if projects get delayed.

DOF unfazed

T he Depa r t ment of Fina nce (DOF) is, however, unfazed by the debts. Finance Secretary Carlos G. Dominguez has said the country’s debts remain manageable. This is especially the case since majority of the country’s debts were obtained from local sources. This will prevent foreign exchange losses from being a factor in the country’s debt management efforts. “Our financial and banking system did not buckle under the pressure of the pandemic. Our cur renc y remained relatively strong,” Dominguez said in a recent forum. “We have the reserves to support our imports. Our deficit and debt figures remained manageable.”

Administrations past

THIS is not the first time the Philippines finds itself lifting a pile of debt. Back in the 1980s, the country experienced a debt crisis after the Marcos administration left billions in foreign borrowings in its wake. As a result, the country was forced to pay these decades after the ink dried on these loan agreements. However, Ibon Foundation Inc. Execut ive Director Jose Enrique A. Africa said the 60 percent debt-to- GDP ratio in 2022 is comparable to the Marcos administration’s debt. However, he said it was “smaller than peaks” reached during the administrations of President Fidel V. R amos and President Gloria Arroyo. Africa said the nature of the Duterte administration’s debts is different from the Marcos-era borrowings. Those debts in the 1970s were “unpayable” since these were mostly foreign debts and had severe foreign exchange constraints. “Debt today is not just more heavily domestic but there is also much more available foreign exchange for servicing the foreign debt especially from overseas remittances,” Africa said.

Taking consideration

HOW EV ER, De La Salle University economist Maria Ella C. Oplas said the level of debt incurred by the current administration may even be more than t he Ma rcos ad m i n ist rat ion’s debt— even w it hout t a k ing into consideration the value of the peso. Oplas estimated that it may be “more or less equivalent to combined debt of several administrations.” However, she said the circumstances of obtaining these debts “were certainly different.” T his is t he f irst t ime t he cou nt r y e x p e r ie nce d a pa ndemic—something that has not happened in a generation. This makes it impossible to compare the country’s debts to those that were obtained before. “It ballooned because of the pandemic. So there is a huge disparity between the debt incurred by each president not just by number alone. More importantly we have to consider the situation. None of those presidents were in a pandemic before,” Oplas said. Nonetheless, economists and civil society groups still sounded alarm bells given the mounting debts, particularly during the pandemic.

Adding to list

FORMER Dean of the University of the Philippines School of Labor and Industrial Relations and current Freedom from Debt Coalition (FDC) President Rene E. Ofreneo said that in 2019, the debt-to-GDP ratio was down to 39 percent “after years of being prudent in our borrowings.” Ofreneo said after only 1.5 years into the pandemic, the country’s debt to GDP ratio is nearly at 60 percent with over P2 trillion worth of new debts added to the country’s long list of borrowings. FDC estimated that by the end of 2020, the country had a “debt bomb” worth P9.8 trillion, a P2.1trillion or 27-percent increase from P7.73 trillion at the end of 2019. The FDC estimated that after the first quarter of 2021, debt-to-GDP ratio stood at 60.4 percent, a 16-year high. “[Senator Franklin] Drilon was partly correct when he said he’s wondering why there are so many presidential aspirants when the big task facing the next administration is how to manage the debt and economic situation,” Ofreneo said. “The bigger issue, of course, is how sustainable the debt situation given an economy that is flattened. The debt service—principal and interest—is now over P1 trillion a year,” he added.

Yearning for reason

AFRICA said one worrisome impact of the country’s debt is the possibility of increasing debt service. This will mean less revenues for pandemic response, health and education services and social protection that are considered urgent at this time. He said “undeclared austerity is a real danger.” He added that the growing debt and debt servicing also raises the risk of further tax increases to raise revenues in order to pay its debts. This could, in turn, burden ordinary Filipinos. This is why managing the debt is important, according to former

Socioeconomic Planning Secretary Dante B. Canlas. He said the “fattened” public debt, due to its sheer size, could crowd out muchneeded funds for other economic and social services. “Debt ser vicing has gotten bigger. It is automatically appropriated in the GAA. Hence, debt service will crowd out economic and social spending like infrastructure, education, health and housing and/or shelter,” Canlas told the BusinessMirror.

Opting for moratorium

WITH the sheer amount of loans incurred by the Philippines, some economists believe declaring a debt moratorium could be an option to give the government the fiscal space it needs to respond to the financial challenges it will face in the coming years. The “M” word was the weapon of choice back in the 1980s. The Marcos administration declared bankruptcy and imposed a 90-day debt moratorium on principal payments in 1983. Africa said a debt moratorium is always an option for countries. However, when it comes to the Duterte administration, it has already missed the opportunity to call for a moratorium, which should have been made as early as last year. However, he believed the government can “rectify this by drawing up a respectable Covid-19 response and stimulus package and make the case that these are urgent for the people and will hasten economic recovery and revenue generation and then unilaterally declare debt moratoriums as needed.” But, he said “these can be broadbased or selective but, in general, cannot be negotiated as every creditor will tend to resist.” The question is how and how long the Philippines could keep them at bay.

Nine quarters

THE Marcos administration’s actions back in the 1980s, unfortunately, caused the economy to tank. The country’s economic growth contracted 3.2 percent in the fourth quarter of 1983— around the time when Marcos declared bankruptcy and a 90-day debt moratorium. T hat qu a r ter 38 yea rs ago was t he f irst of nine consec ut ive qu a r ters when t he econo my wou ld record contractions. T he economy h it roc k bot tom in t he t h ird qu a r ter of 198 4 when GDP growth plunged 10.7 percent and again at a contraction of 10.5 percent in the first qu a r ter of 1985. The impact on the economy is one of the dangers of declaring a debt moratorium. A debt moratorium can provide relief; but its effect can only be a temporary one. Oplas said while the Philippines can be granted a debt moratorium given its current credit standing, but it would only delay the country’s agony. “I think we are in a position to be granted with moratorium when asked. We have good credit rating and the situation calls for it. We can go for it but, it will just delay the agony,” she said.

GDP, debt

OPLAS said efforts to address the debts sustainably means attracting foreign direct investors and capitalize on what the “Build, Build, Build ” program

was originally aimed for. This, she said, is under the assumption that the economy will open. “Next year will be election year and that will spur economic activity. We need that to jumpstart the economy.” Unionbank Chief Economist Ruben Carlo O. Asuncion told the BusinessMirror that one of the ways the country can safely address its indebtedness is to outgrow it. However, it will mean implementing unpopular measures and for Filipinos to swallow the bitter pill of the country’s spendthrift ways. Ofreneo said he believes this is the main strategy of the government in addressing the mounting debts. But doing so means allowing the economy to grow so that the Philippines could meet its obligations. “At this point, we are at 60 percent of GDP in terms of our total debt-to-GDP ratio and the IMF classifies emerging/developing economies at total debt-to-GDP ratio of 70 percent of GDP to be at high risk of debt crisis...default. Thus, there is still space but a very limited one,” Asuncion said. According to Asuncion, if the government’s cards are played right, “growing ourselves out of debt is still possible in the medium term.” “Remember that the previous administrations have done it before. There will be unpopular policies that have to be implemented though,” he told the BusinessMirror. “Next leaders should be ready to bite the bullet of unpopularity for the greater good.”

A greater rate

CANLAS said while the “debt moratorium is not being discussed yet, but if the public debt worsens, it may be invoked.” But, generally, he said the Philippines is hoping to grow out of its debt by growing at a rate greater than the interest rate. This explains why the Bangko Sentral ng Pilipinas’s (BSP) actions are also focused on low interest rates. This is part of the government policy strategy as a consequence to managing the country’s indebtedness, he explained. However, Ofreneo said, outgrowing debt is an “old normal” strategy and may no longer be applicable. That is why proactive solutions are important at this point, he emphasized. Ofreneo said the government should rebalance its economic policies, particularly when it comes to debts, stimulus spending and trade, among others. “If we do not employ re-balancing and re-strategizing in the economy, our debts will balloon like in the 1980s and we shall be dependent once more on external creditors—with China’s AIIB joining them—and the say-so of narrow-minded economic technocrats. The decade of the 2020s will be another lost decade. Last year, we lagged behind Vietnam, whose GDP per capita in the 1980s was a fraction of ours,” Ofreneo warned.

Yielding wealth

AFRICA said the most sustainable way out of these debts is to adopt “a genuinely progressive tax system” where the country’s richest families will play a crucial role. Ibon and FDC are advocating

for the passage of a wealth tax. In its recent “State of the People’s Address,” the FDC said a 1-percent wealth tax could help the government generate P316.55 billion. That amount is based on 2019 data, which put 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, according to the organizations. FDC believes that if the wealth tax targets those with stock and bank accounts, who have P29.58 trillion in stocks and transferable securities as well as time and savings deposits, the government could generate wealth tax revenues thus: P295.77 billion at 1 percent; P591.54 billion at 2 percent; and, P887.3 billion at 3 percent. The FDC said 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.

Over time

OF the 96 percent of wealth, the 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. “The country’s richest families accumulate wealth and the largest corporations earn profits from the labors of their workers. Much of these are idle, unproductive and just used to generate more financial wealth,” Africa said. “Direct taxes such as a wealth tax and higher CIT [corporate income tax] on large firms can be used to mobilize and spend these for social and economic development.” But ultimately, Oplas said the best way to address the country’s debts is for Filipinos to vote wisely in the coming elections. The next administration will have to clean up the “mess” when it assumes office next year. The next President, Oplas imagines, may not be able to rest for the next six years. “[There will be] no rest trying to solve this pandemic; no rest trying to pay for this huge debt,” Oplas said.

New hope

LIKE Diaz, Oplas wants the sun to shine after the rain. “But at least this new president will not start from scratch,” she told the BusinessMirror. Oplas said it is important to remember that the government has initiated the “Build Build, Build” program despite the pandemic. “So in a way the new president has infrastructure and policies that can encourage new investors to the country,” she said. Oplas’s words, like Diaz’s gold medal, offer hope and comfort to some; palliative solutions to others. Nonetheless, she emphasized there should be a solution to the debt burden. But t his solut ion w i l l not come easy, as economists have pointed out. In the end, there is no Diaz, a weightlifting champion, to carry the burden for all Filipinos when it comes to the country’s debt obligations. Each must carry her own weight; a long time.

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

66 A-IDEA CONSULTING INC. Rm. 404 Caeg Building Dela Rosa St. Pio Del Pilar Makati City

FAN, JUNLI Chinese Customer Officer Brief Job Description: Handling inbound and outbound service support calls

WANG, JIAQI Chinese Customer Officer Brief Job Description: Handling inbound and outbound service support calls

Basic Qualification: Proficient in reading, writing and speaking in Mandarin

THAI THANH PHAT Customer Service Representative Mandarin Speaking 14.

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

Brief Job Description: Assign all work assignments, commit team(s) to work, mange the quality of their work, manage the team’s financials and mix targets, and drive the overall people management within the team KALIA, VINAL DILIP Delivery Excellence Senior Manager

Brief Job Description: Improve organizational effectiveness by working with an extended team to provide process, tools, methods, operational excellence practices and training across the organization VEMAREDDY, SARATHI BALARAM REDDY Delivery Excellence Senior Manager

Brief Job Description: Improve organizational effectiveness by working with an extended team to provide process, tools, methods, operational excellence practices and training across the organization

Basic Qualification: Requires development and execution of strategy to achieve key business objectives in area of responsibility Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Requires involvement in setting strategic direction to establish near-term goals for area(s) of responsibility Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Requires involvement in setting strategic direction to establish near-term goals for area(s) of responsibility Salary Range: Php 150,000 - Php 499,999

AMDOCS PHILIPPINES INC. 23rd, 25th, And 26th Floors Eco Tower 32nd St. Cor. 9th Ave. Bonifacio Global City Fort Bonifacio Taguig City NAG, SUDEEP Technologies Manager 6.

Brief Job Description: Overall accountability for translating business and account needs to technical level

Basic Qualification: Bachelor’s degree, have expertise in data center management and governance

15.

CHUNG THIEN MY Customer Service Representative Mandarin Speaking 7.

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

HA LY LY Customer Service Representative Mandarin Speaking 8.

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

HUYNH UYEN DAO Customer Service Representative Mandarin Speaking 9.

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

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

16.

17.

10.

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

LU CHAN TINH Customer Service Representative Mandarin Speaking 11.

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

LUI KHA AN Customer Service Representative Mandarin Speaking 12.

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

MA PHUNG KIEU Customer Service Representative Mandarin Speaking 13.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

18.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

Brief Job Description: Managing incoming calls and customer service inquiries WEN, XIAOYUE Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

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

No.

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs Salary Range: Php 30,000 - Php 59,999

28.

29.

30.

31.

19.

20.

Brief Job Description: Customer service representative

ZENG, ZHIHAO Customer Service Representative Brief Job Description: Customer service representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School Graduate in Chinese ,Can Speak and write fluent Chinese Mandarin, Can Operate Mandarin Characters Salary Range: Php 30,000 - Php 59,999

32.

21.

Brief Job Description: Identify strategic risks and work with the organization’s executive management team to identify needs, develop action plans and oversee the implementation and monitoring of plans.

Basic Qualification: With extensive experience in Ecommerce and strategic operations.

33.

CHEN, HAIMEI Chinese Speaking Data Entry Clerk Brief Job Description: Assist/help customers, give customers information about product and services HU, XUDONG Chinese Speaking Data Entry Clerk 23.

Brief Job Description: Assist/Help customer, Give customers information about product and services LAM CHI CUONG Chinese Speaking Data Entry Clerk

24.

Brief Job Description: Assist/Help customer, Give customers information about product and services LIU, SONG Chinese Speaking Data Entry Clerk

25.

Brief Job Description: Assist/Help customer, Give customers information about product and services MAO, XIAOJING Chinese Speaking Data Entry Clerk

26.

Brief Job Description: Assist/help customers, give customers information about product and services SUN, YUNYUE Chinese Speaking Data Entry Clerk

27.

Brief Job Description: Assist/help customers, give customers information about product and services

Basic Qualification: With at least 6 months customer service experience / good in oral communication and written

Brief Job Description: Assist/Help customer, Give customers information about product and services

CAO, XIANJIE Mandarin Speaking Customer Service Representative 34.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails CHEN, BINGXIONG Mandarin Speaking Customer Service Representative

35.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails CHEN, CHENG Mandarin Speaking Customer Service Representative

36.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails CHENG, JIANFEI Mandarin Speaking Customer Service Representative

37.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. HUA, XIAOLI Mandarin Speaking Customer Service Representative

38.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. HUANG, JUNHONG Mandarin Speaking Customer Service Representative

39.

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

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written

LI, JIANHUI Mandarin Speaking Customer Service Representative 40.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience/Good in oral communication and written

41.

42.

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

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails WANG, LYU Mandarin Speaking Customer Service Representative

43.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience / good in oral communication and written

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. LIU, JIXIANG Mandarin Speaking Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience / good in oral communication and written

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. LIU, JUN Mandarin Speaking Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience/Good in oral communication and written

QUALIFICATION AND SALARY RANGE Basic Qualification: With atleast 6 months customer service experience/Good in oral communication and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience / good in oral communication and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience/Good in oral communication and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience/Good in oral communication and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience/Good in oral communication and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months customer service experience/Good in oral communication and written Salary Range: Php 30,000 - Php 59,999

DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City

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

CRONYX INC. No. 4th-10th Flr. Yinhope Bldg. Dela Rama Cor. Zoili Hilario St. Seascape Village, Ccp Complex Subd. Zone 10, Barangay 076, District 1 Pasay City

Brief Job Description: Assist/Help customer, Give customers information about product and services

ZHENG, LEI Chinese Speaking Data Entry Clerk

BLUE AURORA SOLUTIONS INC. 283 Haig St. Daang Bakal Mandaluyong City CHOUDHARY, ANKUR Strategy Head

Brief Job Description: Assist/Help customer, Give customers information about product and services

ZENG, XIANGLIN Chinese Speaking Data Entry Clerk

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f Ayala Mall Southpark National Road Alabang Muntinlupa City

LIU, XIAOMAO Customer Service Representative

Brief Job Description: Assist/Help customer, Give customers information about product and services

YE, ZHI Chinese Speaking Data Entry Clerk

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

Basic Qualification: High School Graduate in Chinese ,Can Speak and write fluent Chinese Mandarin, Can Operate Mandarin Characters

Brief Job Description: Assist/help customers, give customers information about product and services

YANG, ENQI Chinese Speaking Data Entry Clerk

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

Basic Qualification: Proven experience as a Mechanical Operating System Analyst, Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan.

Brief Job Description: Assist/Help customer, Give customers information about product and services

XU, ZHIJUN Chinese Speaking Data Entry Clerk

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, CHAOPENG Chinese Speaking Data Entry Clerk

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

CHU VAN MANH Chinese Customer Service

YOU, JIAN Mandarin Operating System Supervisor

22. LEE, HYUNJIN Customer Service Representative Mandarin Speaking

QUALIFICATION AND SALARY RANGE

APPTECHURE CORP. Units A&b 20/f Rufino Pacific Tower 6784 Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

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

ESTABLISHMENT / ADDRESS

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City

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

AMUSETECH BUSINESS OUTSOURCING 6, 7, 8th Flr. (np) Moa Arena, J.w. Diokno Blvd. Brgy. 076 Pasay City

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

TRAN THI THU HIEN Customer Service Representative Mandarin Speaking

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City CHOPRA, GITANJALIE Client Service Delivery Assoc Director

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, July 29, 2021

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

WANG, WEI Mandarin Speaking Customer Service Representative 44.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A10 Thursday, July 29, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WU, WEIYU Mandarin Speaking Customer Service Representative

45.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. XIONG, SHIDA Mandarin Speaking Customer Service Representative

46.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. YANG, YAOYAO Mandarin Speaking Customer Service Representative

47.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. YE, TING Mandarin Speaking Customer Service Representative

48.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. ZHANG, LONG Mandarin Speaking Customer Service Representative

49.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. ZHAO, LELE Mandarin Speaking Customer Service Representative

50.

Brief Job Description: Delivering excellent customer services & managing the needs of the customer through phone calls and emails. JIANG, RUI Mandarin Speaking Customer Service Representative

51.

Brief Job Description: Delivering excellent customer service & managing the needs of customer through phone calls and emails SHEN, ZHIWEI Mandarin Speaking Customer Service Representative

52.

Brief Job Description: Delivering excellent customer service & managing the needs of customer through phone calls and emails TANG, KESHENG Mandarin Speaking Customer Service Representative

53.

Brief Job Description: Delivering excellent customer service & managing the needs of customer through phone calls and emails XUE, YUEXIA Mandarin Speaking Customer Service Representative

54.

Brief Job Description: Delivering excellent customer service & managing the needs of customer through phone calls and emails YANG, LE Mandarin Speaking Customer Service Representative

55.

Brief Job Description: Delivering excellent customer service & managing the needs of customer through phone calls and emails

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers.

No.

64.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers.

65.

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

56.

Brief Job Description: Customer Service Representative

57.

Brief Job Description: Customer Service Representative

58.

59.

Brief Job Description: Customer Service Representative

LI, XINGYU Customer Service Representative Brief Job Description: Customer Service Representative

60.

Brief Job Description: Customer Service Representative

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999

61.

Brief Job Description: Customer Service Representative

67.

62.

Brief Job Description: Customer Service Representative

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

Brief Job Description: Configure and maintain systems and networks

Brief Job Description: Execute data-driven decision - making to drive the category growth

HWANG, ILJOONG Korean It Support Specialist 68.

Brief Job Description: IT Support specialists provide organizations with information technology support to optimize operational efficiency. JEON, SANGHOON Korean It Support Specialist

69.

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

Brief Job Description: IT Support specialists provide organizations with information technology support to optimize operational efficiency.

FRANKE-EVERETT GEB. FRANKE, JANA Special Projects Director 70.

Brief Job Description: Strategy development to support GPCCI’s vocational training activities.

71.

Brief Job Description: Assist with Developing the Market for Client or Company

ZHENG, ZHIZHUO Mandarin Finance Manager 72.

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

CAI, ZICHAO Mandarin Marketing Manager 73.

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

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

74.

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

JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House Magallanes St. 069, Bgy. 655 Intramuros Manila

Basic Qualification: High School graduate in Chinese curriculum, can speak and write fluent Chinese Mandarin, can operate computer Mandarin characters

75.

Basic Qualification: High School graduate in Chinese curriculum, can speak and write fluent Chinese Mandarin, can operate computer Mandarin characters

CHENG, JIE Strategic And Facilitation Officer 76.

Basic Qualification: Kills in documentation

Brief Job Description: Knows how to maintain computer system

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

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company DENG, XIAOQIN Strategic And Facilitation Officer

77.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company LI, YUHUI Strategic And Facilitation Officer

78.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company MA, ZHIWEN Strategic And Facilitation Officer

79.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company SONG, YIN Strategic And Facilitation Officer

80.

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City LI, ZHANGJIAN Computer System Analyst

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company WANG, PENGCHENG Strategic And Facilitation Officer

81.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

82.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company WANG, CHAO Strategic And Facilitation Officer

83.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company WEI, JIANMEI Strategic And Facilitation Officer

84.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company WEI, DANQING Strategic And Facilitation Officer

85.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company YAN, WEI Strategic And Facilitation Officer

86. Basic Qualification: Can speak Korean language.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

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

YI, SHUNLI Strategic And Facilitation Officer

Basic Qualification: Can speak Korean Language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Minimum bachelor’s degree in economics, business administration or related fields.

87.

Basic Qualification: Proficient in Speaking, Reading and Writing Mandarin and Marketing Knowledge

88.

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

Basic Qualification: Proven experience as a Mandarin Operations Manager, Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan.

Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999

89.

90.

91.

Brief Job Description: Formulate appropriate recruitment schedule

Brief Job Description: Review purchase requisition/orders within purchasing authority

NISHIDA, KAORI Sales Support 92.

Brief Job Description: Performing inside sales activity such as cold calling and send emails to create new business opportunities for KDDI services

Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Assist the HR Manager in the overall function of the Human Resource Section Salary Range: Php 60,000 - Php 89,999 Basic Qualification: With good communication skills, oral and written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Basic knowledge of IT infrastructure business and services is plus. Inside sales is expected to determine client’s BANT (budget, authority, need and timeline as well as to be able to present KDDI service overview

KEPCO KPS CARABAO CORP. 18/f Pacific Star Bldg. Sen. Gil Puyat Cor. Makati Ave. Bel-air Makati City JEONG, KWANGHEE Deputy Manager - Marketing Team 93.

Brief Job Description: Will primarily responsible in planning and execution of Marketing plans and strategies

Basic Qualification: Has an excellent managerial and decision making ability Salary Range: Php 60,000 - Php 89,999

KHI DESIGN & TECHNICAL SERVICE, INC. 1503-p, 15f, Five Ecom Center Pacific Drive Mall Of Asia Complex Pasay City IWAMURA, MUNECHIYO Assistant Manager Of Environmental Group 94.

Brief Job Description: To assist and support in the general management of Environmental Dept.

Basic Qualification: Ten (10) years’ experience in Environmental Management in a Japanese Company Salary Range: Php 30,000 - Php 59,999

KYODO NEWS Unit 3 19/f Zuellig Bldg. Makati Ave. Cor. Paseo De Roxas Urdaneta Makati City

95.

HOSHINO, KEIICHIRO Bureau Chief Brief Job Description: Oversee the daily operations of the company.

Basic Qualification: Above average communication skills in Nihongo. Salary Range: Php 90,000 - Php 149,999

LOGICDOSE INC. 19f Marco Polo Ortigas, Sapphire Road Ortigas Center San Antonio Pasig City CHEN, HUOFU Information Security Analyst (Chinese Speaking) 96.

Brief Job Description: Installing and use of software such as firewalls and data encryption LIU, YONG Information Security Analyst (Chinese Speaking)

97.

Brief Job Description: Installing and use of software such as firewalls and data encryption QIN, YINGYING Information Security Analyst (Chinese Speaking)

98.

Brief Job Description: Installing and use of software such as firewalls and data encryption

ZHANG, XUNYUAN Information Security Analyst (Chinese Speaking) 99.

Brief Job Description: Installing and use of software such as firewalls and data encryption

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

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

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

Basic Qualification: Must be fluent in Chinese language

KDDI PHILIPPINES CORPORATION Units A, B, C, & D, 25/f Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City

Basic Qualification: Must be fluent in Chinese language

SHIMAZAKI, AYAKO Assistant Manager For Human Resources

KOZONOI, AI Assistant Manager For Procurement

Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

QUALIFICATION AND SALARY RANGE

JFE TECHNO MANILA, INC. 23/f Robinsons Cyberscape Alpha Sapphire & Garnet Roads Ortigas Center Pasig City

Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company ZHANG, BIGONG Strategic And Facilitation Officer

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

Basic Qualification: Proven experience as a Mandarin Finance Manager, Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan.

Brief Job Description: our primary function is to help the company and its Chinese clients to generate more income for the company ZHANG, ZELONG Strategic And Facilitation Officer

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

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

CHEN, CHAOYAN Strategic And Facilitation Officer

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, BINYANG Strategic And Facilitation Officer

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

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

Basic Qualification: High School graduate in Chinese curriculum, can speak and write fluent Chinese Mandarin, can operate computer Mandarin characters

Basic Qualification: Job relevant degree / 5-10 years supervisory or managerial experience/ multilingual

INSPIRING PG INC. 3f Filhome Builders Center #68 Dona Soledad Avenue Better Living Subdivision Don Bosco Parañaque City

Basic Qualification: High School graduate in Chinese curriculum, can speak and write fluent Chinese Mandarin, can operate computer Mandarin characters

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

GRANDTECH SUPPORT SERVICES INC. 4/f U-2c One E-com Ctr. Bldg. Ocean Drive Brgy. 076 Pasay City FU, JINLONG Field Marketing Officer-mandarin

No.

Basic Qualification: Knowledgeable in computer applications

GERMAN-PHILIPPINE CHAMBER OF COMMERCE AND INDUSTRY, INC. 8/f Dohle Haus Manila 30-38 Sen. Gil J. Puyat Ave. San Isidro Makati City

Basic Qualification: High School graduate in Chinese curriculum, can speak and write fluent Chinese Mandarin, can operate computer Mandarin characters

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

63.

Basic Qualification: Knowledgeable in computer applicants (Fluent in Chinese)

GEM DATA SOLUTIONS INC. 16/f Tower 6789 6789 Ayala Ave. Bel-air Makati City

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

WANG, TIANFANG Customer Service Representative

ZHU, LELE Computer System Analyst

ARORA, SAYAM LALIT Category Manager

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers

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

TOE HLAING MYINT Customer Service Representative

Brief Job Description: Configure and Maintain system and networks

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

FOOD PANDA PHILIPPINES, INC. Penthouse 1 6780 Ayala Ave. Bldg. 6780 Ayala Ave., San Lorenzo Makati City

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

LIU, DONGCHAO Customer Service Representative

XUE, XIAQIAO Computer System Analyst

Basic Qualification: Knowledgeable in computer applications

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

LI, ZHENG Customer Service Representative

Brief Job Description: Configure and maintain systems and networks

QUALIFICATION AND SALARY RANGE

66.

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

KUANG, YINGHUAN Customer Service Representative

LI, HAO Computer System Analyst

ESTABLISHMENT / ADDRESS

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers.

FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City

DU, CHAO Customer Service Representative

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

YEOH JING RU Information Security Analyst (Malaysian Speaking) 100.

Brief Job Description: Installing and use of software such as firewalls and data encryption

Basic Qualification: Can speak Chinese language and knowledgeable in information technology system Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese language and knowledgeable in information technology system Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese language and knowledgeable in information technology system Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese language and knowledgeable in information technology system Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Malaysian language and knowledgeable in information technology system Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGU TU VAN Information Security Analyst (Vietnamese Speaking)

101.

Brief Job Description: Installing and use of software such as firewalls and data encryption

VONG CAM LAN Information Security Analyst (Vietnamese Speaking) 102.

ESTABLISHMENT / ADDRESS

Brief Job Description: Installing and use of software such as firewalls and data encryption

QUALIFICATION AND SALARY RANGE Basic Qualification: Can speak Vietnamese language and knowledgeable in information technology system

Basic Qualification: Can speak Vietnamese language and knowledgeable in information technology system

103.

Brief Job Description: Maintain and finish all projects assigned to M-TEC Corp

104.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries. DU, BAOGANG Customer Service Representative

105.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries. JIA, PENGBO Customer Service Representative

106.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries. JOUNG, CWONYOUNG Customer Service Representative

107.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries. LIU, YANGTIAN Customer Service Representative

108.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries. PIAO, HAIDONG Customer Service Representative

109.

110.

111.

112.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries. WANG, JIEWEN Customer Service Representative Brief Job Description: Interacting with customers queries WU, WANG Customer Service Representative Brief Job Description: Interacting with customers queries YU, QINGJIE Customer Service Representative Brief Job Description: Interacting with customers queries YUAN, QIANG Customer Service Representative

113.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries. ZHANG, CHAOFENG Customer Service Representative

114.

Brief Job Description: Interacting with customers via email, assists with complaints, orders and other queries.

120.

Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Fukien, Cantonese)

121.

122.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999

123.

OH, SEUNGRYEOL Customer Service Representative 115.

Brief Job Description: A customer service representative supports customers by providing helpful information, answering questions, and responding to complaints. They’re the front line of support for clients and customers and they help ensure that customers are satisfied.

LEE, DONGJU IT Specialist (Korean) 116.

Brief Job Description: It specialist role can depend largely on their specific organization and area of specialization, Most of these core duties exist in any enterprise.

KIM, JONGHOON Marketing Manager (Korean) 117.

Brief Job Description: Marketing managers promote businesses, services, products, or brands. They develop marketing and pricing strategies, generate new business leads and oversee marketing department staff.

KIM, DONGYEOB Technical Support 118.

Brief Job Description: Skilled candidates with excellent interpersonal skills for the technical support position

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be bachelor’s / college degree in any fields, at least 1-2 yrs. Of working experience in the Related positions, ability to maintain high level of confidentiality

124.

125.

126.

127.

128.

129.

130.

131.

132.

133.

134.

135.

136.

137.

138.

139.

140.

LANG, XIAOYU Mandarin Speaking Customer Relations Service Provider

WANG, LEI Mandarin Speaking Customer Relations Service Provider

Basic Qualification: Proficient in speaking, reading and writing in Korean

ZHOU, LILONG Mandarin Customer Service Brief Job Description: Responsible for handling service support calls

CAI, KUN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries FU, GUANBIN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries FU, JINGMEI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries HU, WEIHONG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries JIN, SONG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LI, XIAOLI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LIU, GENG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LIU, YI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries REN, FANGYUAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries TIAN, YULAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries WU, HAO Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries XING, YAODAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries XU, JIAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries YANG, JIEJIE Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, LEI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries ZHAO, QUANLIANG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries ZENG, WANG Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries

No.

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

142.

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

QUALIFICATION AND SALARY RANGE

Basic Qualification: With excellent verbal communication skills specifically Mandarin and English Language.

GUO, SHUAI Mandarin Operation & Maintenance Recording System Analyst Brief Job Description: Proficient in computer programming, analyze control records and examine workflow documents

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

NEW CROSS CREDIT AND FINANCING GATE PH, INC. 16/f M1 Tower 141 H.v. Dela Costa St. Bel-air Taguig City Basic Qualification: Experience in identifying and closing strategic collaborations to expand the business.

GAITANIDOU, MARIA Partnerships, VP 143.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

NEPC POWER CONSTRUCTION CORP. 15/f Cyber One Bldg. Eastwood Cyberpark City Bagumbayan 3 Quezon City

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

Brief Job Description: Actively nurture and develop active partnerships to maximize value for the business

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Practical & pragmatic eager to explore the possible solutions without losing sight of our vision & standards.

KRASNOVSKY, THOMAS MAXIME Product Manager 144.

Brief Job Description: Responsible for the product deployment, adoption and continuous improvement with the support of the operation team.

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

PHILIPPINE EDS TECHNO-SERVICE, INC. 6/f Aseana One Bldg. Bradco Ave. Aseana City Baclaran Parañaque City MACHIDA, KENGO Supervisor

Basic Qualification: Management personnel

Basic Qualification: Proficient in speaking, reading and writing in Mandarin

145.

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

RAINBOW PROMISE SOLUTIONS INC. Unit A 14/f B.a Lepanto Bldg. 8749 Paseo De Roxas Bel-air Makati City

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City

MAGKING SERVICES CORPORATION Unit 5d Rose Industries Bldg. #11, Pioneer Street Kapitolyo Pasig City Basic Qualification: Must be bachelor’s / college degree in any fields, at least 1-2 yrs. Of working experience in the Related positions, ability to maintain high level of confidentiality

QUALIFICATION AND SALARY RANGE

MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese)

HUANG, YIMING Mandarin Speaking Customer Relations Service Provider

Brief Job Description: Responsible for handling service support calls

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese)

Brief Job Description: Responsible for handling service support calls

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Fukien, Cantonese)

KO, GWANGMIN Korean Customer Service Representative

Brief Job Description: Responsible for handling service support calls

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

MACH 86 TECHNOLOGIES CORP. 5th-13th Flr. Workspace Bldg. 1419 Industry St. Corner Finance St. Mbp Ayala Alabang Ayalaalabang Muntinlupa City BAI, WENZHE Customer Service Representative

119.

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

Basic Qualification: 10 years of Management experience

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

146.

147.

BINETTE, FRANCOIS,JOSE,PHILIPPE Project Manager 148.

149.

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

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

Brief Job Description: Accelerate hybrid business between Philippine local companies and Japanese companies

THAKUR, SHAILESH AVP-Customer Experience 150.

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

Basic Qualification: French speaking Project Manager with experience on at least 3 international large projects in water treatment plants (plant treatment capacity over 50,000 m3/day. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficient in Japanese language, experience in banking procedures, good in financial analysis Salary Range: Php 150,000 - Php 499,999

Brief Job Description: In-depth knowledge of standard analytics tools and process used quality management industry wide, extensive knowledge of ITES/BPO with in depth customer experience.

Basic Qualification: At least 14 years in BPO/ ITES and/or service excellence/quality management certified as six sigma green belt, preferably LSBB certified or trained, extensive knowledge of ITES/BPO. Salary Range: Php 500,000 and above

TCL SUN, INC. 4/f Zen Tower 1111 N A Lopez St. 071, Brgy. 659 Ermita Manila

151.

ZHENG, HAO GTM Manager Brief Job Description: Provide Full Management of TCL PH GTM Operation

Basic Qualification: With wide background about Go-to-Market strategy and execution. Fluent in Mandarin Language Salary Range: Php 30,000 - Php 59,999

TEEKAY OFFSHORE BUSINESS PROCESS SERVICES (PHILIPPINES) INC. 7f Cya Land & Properties Inc. Bldg. 110 Thailand St. San Lorenzo Makati City JUUL, THALE MARTINE General Manager 152.

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

Basic Qualification: fluent in Thai and must have customer service experience

SUTHERLAND GLOBAL SERVICES PHILIPPINES, INC. 12th Floor Philplans Corporate Center Kalayaan Avenue & Triangle Drive Fort Bonifacio Taguig City

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

Brief Job Description: To manage the design and build Aglipay Sewage Treatment Plant (STP) Project in Aglipay, Mandaluyong City.

DOI, KOSUKE Assistant Manager

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

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

SUMITOMO MITSUI BANKING CORPORATION - MANILA BRANCH 21/f Tower One & Exchange Plaza Ayala Ave., Cor. Paseo De Roxas Bel-air Makati City

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

Brief Job Description: Responding to customer’s complaints, determining the cause of the problems, selecting and choosing the best solutions to solve the problem

Basic Qualification: fluent in Thai and must have customer service experience

SUEZ INTERNATIONAL PHILIPPINE BRANCH Unit Lz-2 19f Tower 1 Highstreet South Corporate Plaza 9th Ave. Cor. 26th St. Fort Bonifacio Taguig City

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

Brief Job Description: Establish communication channels and mediums though which customers can reach out to our company and vice versa HONGWEANGCHAN, TANANPAT Customer Service Specialist (Thai Speaking)

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

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

KONG SIEW YEE Customer Experience Manager (multilingual)

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

Brief Job Description: Establishment of development and design for high voltage parts and high voltage connectors

Brief Job Description: To lead in shared services activities in the Philippines. Overseeing daily business activities and improving overall business functions

Basic Qualification: Master’s Degree in Business Administration Salary Range: Php 150,000 - Php 499,999

THRUDATA INFORMATION INC. 19th Floor Marco Polo Ortigas Sapphire Road, Ortigas Center San Antonio Pasig City LONG, MAN Consultant 153.

Brief Job Description: Conducts research to understand how a company functions and where a company can improve

Basic Qualification: Must be Chinese to deal with Chinese client Salary Range: Php 30,000 - Php 59,999

XIDIAN HOLDINGS PHILIPPINES CORP. Unit 1207 The Trade And Finance Tower 7th Ave. Cor. 32nd St. Fort Bonifacio Taguig City DUAN, JINFENG Financing Manager 154.

Brief Job Description: Investment management & financing in renewable power plants in Philippines.

Basic Qualification: 10 years working experience in power plant investment in India, Philippines & Nepal Salary Range: Php 90,000 - Php 149,999 *Date Generated: Jul 28, 2021

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

MY GREENLIGHTING CORP. Unit 3c 3/f Gma Lou-bel Plaza 7514 Bagtikan St. Cor. Chino Roces Ave. San Antonio Makati City

PARK, YOUNGMO General Manager 141.

Brief Job Description: Responsible for administrative function, set policies, operation\

A11

ESTABLISHMENT / ADDRESS

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City

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

M-TEC CORPORATION U-1902b L.v. Locsin Bldg. 6752 Ayala Ave. San Lorenzo Makati City KOBAYASHI, KENJI General Manager For Projects

No.

Thursday, July 29, 2021

Basic Qualification: Self-motivated, result driven, develop & implement effective business strategies & programs Salary Range: Php 60,000 - Php 89,999

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A12 Thursday, July 29, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

You can help build a world free of hunger

orld hunger is still on the rise. Globally, 690 million people go to bed on an empty stomach every night. This has to change, according to UN Secretary-General António Guterres who addressed the participants of a “People’s Summit” he organized in Italy from July 26 to 28, 2021. The UN invited youth representatives, farmers, indigenous peoples, civil society, researchers, private sector, policy leaders and ministers of agriculture, environment, health, nutrition and finance, among other participants. The event aims to solicit ideas “how we must address hunger by transforming our food systems.” The UN chief needs the inputs before he convenes a global Food Systems Summit in September during the annual meeting of world leaders at the General Assembly “to urgently make a change.” In a written message that was read to forum participants, Pope Francis called the “scandal” of hunger a “crime that violates basic human rights.” He decried the existence of hunger in a world that can produce enough food for all. He said the Covid-19 pandemic has “confronted us with the systemic injustices that undermine our unity as a human family.” The pontiff added that while new technologies are developed to increase the capacity to produce food on Earth, people continue to “exploit nature to the point of sterilization, thus expanding not only external deserts but also internal spiritual deserts.” The Food and Agriculture Organization, a UN agency that is spearheading international efforts to defeat global hunger, said that while millions of people are dying of hunger, about one third of all food produced globally goes to waste. “We all have a part to play in reducing food loss and waste, not only for the sake of the food but also for the resources that go into it,” FAO said. That’s why the agency is partnering with governments, international organizations, the private sector and civil society to raise awareness on the issues and to implement actions to address the root of the problem. For many people, FAO said, food waste has become a habit: Buying more food than they need, letting fruits and vegetables spoil at home, or taking larger portions than they can eat. These habits put extra strain on our natural resources and damage our environment. “When we waste food, we waste the labor, effort, investment and precious resources [like water, seeds, feed, etc.] that go into producing it, not to mention the resources that go into transporting and processing it.” FAO gives valuable tips we can do to avoid wasting food: Buy only what you need. Plan your meals. Make a shopping list and stick to it, and avoid impulse buys. Not only will you waste less food, you’ll also save money! Store food wisely. Move older products to the front of your cupboard or fridge and new ones to the back. Use airtight containers to keep food fresh in the fridge and make sure packets are closed. Understand food labeling. There’s a big difference between “best before” and “use-by” dates. Sometimes food is still safe to eat after the “best before” date, whereas it’s the “use-by” date that tells you when it is no longer safe to eat. Love your leftovers. If you don’t eat everything you make, freeze it for later or use the leftovers as an ingredient in another meal. Put your food waste to use. Instead of throwing away your food scraps, compost them. This way you are giving nutrients back to the soil and reducing your carbon footprint. Support local food producers. By buying local produce, you support small farmers and small businesses in your community. You also help fight pollution by reducing delivery distances for trucks and other vehicles. Sharing is caring. Donate food that would otherwise be wasted or thrown away. FAO said little changes to our daily habits can make a huge global impact. “Wasting less, eating better and adopting a sustainable lifestyle are key to building a world free of hunger.”

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China at war with the world and itself John Mangun

OUTSIDE THE BOX

his is the way the event was reported. July 16, 1971: “Yesterday, President Nixon shocked the world by announcing on live television that he would visit the People’s Republic of China next year.” At exactly the same time in Beijing, China’s national broadcaster made the same announcement, making clear that it was Nixon who first said he wanted to go to the PRC. China is still good at propaganda “games.” The visit, from February 21 to 28, 1972, allowed the US public to view images of China for the first time in decades. It was called “the week that changed the world.” What initially changed was the wedge between Beijing and Moscow, which intensified. The Americans visited the Great Wall. President Nixon called it a “symbol of what China in the past has been and of what China in the future can become.” He told journalists, “As we look at this wall, we do not want walls of any kind between peoples.”

“Part of diplomacy is the art of strategic lying,” said American legal commentator Jonathan Turley. Unlike in Moscow and Beijing, leaders in other world capitals must at least occasionally turn an eye to world opinion. Vladimir Putin and Xi Jinping care only about their domestic audience. Putin evolved in a USSR where power was held by (and shifted around) the military, the Communist Party, and the KGB. In China, the reigns are held at the top of the Communist Party with the military doing what it is told as its 3 million

members are no match to the 95 million direct loyal party members, not including other party groups like the 89 million strong Communist Youth League. In 2018, Xi was allowed to remain “president for life” as term limits were removed. In early 2019, Beijing started a non-stop squeeze on Hong Kong to this day. July 27, 2021: In the first trial under the tough national security law imposed by China, a Hong Kong court convicted a protester of terrorism and inciting secession. The protester was arrested last year after he drove his motorcycle around with a protest banner.” In November 2020, billionaire Jack Ma suddenly went missing. His Ant Group was in the final stages of the largest IPO in global history and it was killed by the government in October 2020. Last week Chinese tutoring and TechEdu stocks—globally listed—dropped the most in history after China banned “for-profit” school tutoring companies and cracked down on its $100 billion education tech sector. TechEdu companies must lower prices and be non-profit. Parents cheered the move. That cost conglomerates Alibaba, Tencent Holdings, and ByteDance Ltd.

multi-billions. In May 2020, China’s food delivery giant Meituan was worth $100 billion until this April’s anti-trust probe after its CEO “insulted” Xi Jinping. July 7, 2021: “China’s cyberspace regulator said any company with data for more than 1 million users must undergo a security review before listing its shares overseas.” “The government vows to crack down on domestic companies that list on US exchanges, a move that could upend a $2 trillion market loved by some of the biggest American investors.” China cannot stop foreign warships from sailing in the South China Sea. But it can take potentially trillions of dollars of value out of the global stock markets and foreign investors’ pockets. Diminishing the value of large Chinese companies may seem counterproductive. But you will not see many, if any, Mainland Chinese people shedding a tear for either Hong Kong or Jack Ma and his superwealthy friends. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Can Biden’s plans manufacture more US factory jobs?

By Josh Boak | Associated Press

ASHINGTON—President Joe Biden will be trying to connect with blue-collar workers when he travels to a truck factory in Pennsylvania to advocate for government investments and clean energy as ways to strengthen US manufacturing. The president will tour the Lehigh Valley operations facility for Mack Trucks, a chance to touch base with the plant’s 2,500 workers, majority of whom are unionized. Biden has made manufacturing jobs a priority, and Democrats’ political future next year might hinge on whether he succeeds in reinvigorating a sector that has steadily lost jobs for more than four decades. The administration is championing a $973 billion infrastructure package, $52 billion for computer chip production, sweeping investments in clean energy and the use of government procurement contracts to create factory jobs. Biden will be briefed on Mack’s electric garbage trucks. “This is all part of his effort to lift up and talk about his Buy American agenda as well as the infrastructure package,” White House press secretary Jen Psaki said Tuesday in previewing the visit. The president won Lehigh County in the 2020 election, but he is facing the perpetual challenge of past administrations to revive a manufacturing sector at the heart of Ameri-

can identity. Failure to bring back manufacturing jobs could further hurt already ailing factory towns across the country and possibly imperil Democrats’ chances in the 2022 midterm elections. Pennsylvania Sen. Pat Toomey, a Republican, said Biden should siphon off unspent money from his $1.9 trillion coronavirus relief package to cover the investments in infrastructure, instead of relying on tax increases and other revenue raisers to do so. “Hopefully, he will use his visit to learn about the real, physical infrastructure needs of Pennsylvanians — and the huge sums of unused ‘Covid’ funds which should pay for that infrastructure,” Toomey said in a statement. Deindustrialization has been a thorny problem for Democrats seeking voters during elections. Layoffs of white factory workers led communities to vote for Republican challengers and turn against Democratic incumbents, according to a 2021 research paper by McGill University’s Leonardo Baccini and Georgetown University’s Stephen

Weymouth. They found a connection between deindustrialization and greater racial division as white voters interpreted the layoffs as a loss of social status. Areas with more factory layoffs also became more pessimistic about the entire economy. The trends documented in the research were most pronounced in 2016, when Donald Trump won the White House while emphasizing blue-collar identity and racial differences. One challenge for Democrats is that they’re not being forced to deal with the most recent manufacturing job losses, but layoffs that began decades ago. “Biden would benefit from an improved manufacturing jobs outlook,” Weymouth said. “But a lot of economists think that many of these jobs are gone for good. And so, it’s an uphill battle. There are alternatives: The president can pursue a more substantial social safety net for people who lose their jobs or investments in these communities that declined for decades.” Manufacturing has improved since the depths of more than a year ago during the pandemic-induced recession. Labor Department data show that factories have regained about two-thirds of the 1.4 million manufacturing jobs lost because of the outbreak. Factory output as tracked by the Federal Reserve is just below its pre-pandemic levels.

But the manufacturing sector — especially autos — is facing serious challenges. Automakers are limited by a global shortage of computer chips. Without the chips that are needed for a modern vehicle, the production of cars and trucks has dropped from an annual pace of 10.79 million at the end of last year to 8.91 million in June, a decline of nearly 18% as measured by the Fed. Analysts at IHS Markit estimate that the supply of semiconductors will only stabilize and recover in the second half of 2022, right as the midterm races become more intense. The impact of the chip shortage can trickle through the rest of the economy. Used vehicle prices have shot up 45.2 percent from a year ago, since there are not enough newly built cars and trucks available. The administration has been proactive in trying to address the problem, advocating for a bill designed to increase semiconductor production in the United States in ways that would also help other manufacturing sectors. “I am engaging almost daily with industry,” Commerce Secretary Gina Raimondo said last week at a White House briefing. “We need to incentivize the manufacturing of chips in America. And so, we are very focused on putting the pieces in place so that can happen.” For the past several decades, presidents have pledged to bring back See “Biden” A13

Opinion BusinessMirror

www.businessmirror.com.ph

China’s escalating property curbs point to Xi’s new priority

fter a years-long campaign to tame property prices, China is upping the ante to break a stubborn cycle of gains that’s made homes increasingly unaffordable.

In recent days, China jacked up mortgage rates in a major city, vowed to accelerate the development of government subsidized rental housing, and moved to increase scrutiny on everything from financing of developers and newly-listed home prices to title transfers. Echoing Xi Jinping’s famous words that “housing is for living in and not for speculation,” Vice Premier Han Zheng added that the sector shouldn’t be used as a shortterm tool to stimulate the economy. The intensified focus on real estate—an industry that was already under the scanner—mirrors broader crackdowns on businesses such as education that are seen as widening social inequities. As China’s economy slows and President Xi tries to increase the nation’s birth rate, the policies underscore the Communist Party’s growing resolve to respond to mounting dissatisfaction with hoarded wealth and narrowing avenues for advancement. “China’s property sector has been one of the biggest sources of discontent and the government is hell bent on controlling prices so it doesn’t lead to social unrest,” said Beijing-based Liao Ming, a founding partner of Prospect Avenue Capital. “The measures echo the policy curbs in education in that they are aimed at easing public angst against inequity.” While China has spent years trying to cool property prices, analysts say this round of crackdowns will be different. One clear signal came in Vice Premier Han’s comments on steering away from using real estate to provide short-term boosts for the economy. “In the past, Beijing has consistently used the property sector to stabilize overall growth,” Nomura analysts led by Lu Ting wrote in a research note, adding that they expect Beijing to change its playbook. Policy makers won’t lift property restrictions this time partly due to concerns about a systemic financial crisis, the analysts wrote. Another signal came from the unusually large number of government entities that vowed recently to strengthen measures on everything from project development and home sales, to rental and property management services. Eight policy bodies said in a joint statement that they would step up penalties for misconduct. In the line of fire will be developers that default on debt repayments, delay deliveries on presold homes or elicit negative news or market concerns. Local bureaucrats’ careers are on the line. Officials in cities that lack sufficient regulations and experience rapid price spikes will be held accountable, Zhang Qiguang, an official for the Ministry of Housing and Urban-Rural Development said on July 22. On Monday, commentary from state-media Xinhua urged governments across the nation to keep home prices at a reasonable level and make it an urgent task. “New residents and young people can’t afford to buy or rent good homes,” the editorial said. “Those problems are especially acute in cities with population inflow and metropolises.”

Troubled developers

Investors have responded by selling property stocks, with the recent stream of news piling pressure on

Biden. . .

continued from A12

factory jobs without much success. Manufacturing employment peaked in 1979 at nearly 19.6 million jobs, only to slide downward with steep

All signs point to the government’s determination to ensure social stability, even if it spells near-term turmoil for capital markets. Just in June, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, warned against betting that property prices will never fall. developers that were already being pressed to deleverage and meet China’s “three red lines” on debt metrics. China Evergrande Group shares were little changed as of 14:13 p.m. on Wednesday, after plunging more than 40 percent in just under two weeks. A Bloomberg Intelligence index of 33 major Chinese developers mostly traded in Hong Kong dropped for a fourth consecutive day on Wednesday. China Chengxin International Credit Rating revised its outlook for the country’s real estate sector to negative from stable on Monday, citing concerns about policy tightening and weakened investor confidence. “Owning property is one of the key ways in which income inequality has worsened in China so the clamp down will come and will be severe,” said Alicia Garcia Herrero, the Hong Kong-based chief economist for Asia Pacific at Natixis. The cost of mortgages will increase, particularly for those with multiple homes, as will things like property taxes, she estimated. The policies are here to stay, Ren Yi, the social media commentator and Harvard University-educated princeling otherwise known as Chairman Rabbit, wrote in commentary online. “The nation’s leaders are looking at this issue from a bigger point of view, property isn’t just an economic tool, it sits at the root of all social economic and political issues, and must be dealt with,” Ren said.

Balancing risks

The Chinese government needs to maintain a delicate balance. The real estate sector accounts for 13% of the economy from just 5% in 1995, according to Marc Rubinstein, a former hedge fund manager who now writes about finance. Policy missteps could have unintended consequences for the banking system. Chinese banks had over 50 trillion yuan ($7.7 trillion) of outstanding loans to the real estate sector, more than any other industry and accounting for about 28 percent of the nation’s total lending. Of those loans, about 35.7 trillion yuan were mortgage loans to households and 12.4 trillion yuan were for property development, according to official data. But all signs point to the government’s determination to ensure social stability, even if it spells nearterm turmoil for capital markets. Just in June, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, warned against betting that property prices will never fall. “Property is the single most important source of financial risks and wealth inequality in China,” said Larry Hu, head of China economics at Macquarie Securities Ltd. It “is worth watching.” Bloomberg News declines after the 2001 recession and the 2007-2009 Great Recession. The figure now stands at 12.3 million. Bill Clinton, George W. Bush, Barack Obama and Trump each said their policies would save manufacturing jobs, yet none of them broke the long-term trend in a lasting way.

Thursday, July 29, 2021 A13

Australian lawmaker tags Dito Telecom a ‘Trojan Horse’ Val A. Villanueva

Businesswise

was among many people who were utterly disappointed that President Duterte’s last State of the Nation Address didn’t dwell much on the issue of China’s maritime intrusion into the country’s exclusive economic zone. I was expecting that he would at least assuage concerns about China’s unabated encroachment deeper into maritime territories that we rightfully own. He owes it to more than 80% of Filipinos who mistrust the Communist state. In a recent SWS survey, Filipinos’ net trust in China fell from poor to bad, skidding to -36 from -27 in the December 2019 survey. Duterte again repeated his fear of war if the Philippines were to pursue the arbitral ruling against China, which the community of nations recognize. Other than his usual motherhood statement that the Philippines will “assert what is rightfully ours,” I didn’t hear anything concrete about what he plans to do about it. Instead, he merely dismissed the ruling as unenforceable “because they [sic] were never part of that arbitration.” With this pronouncement, I wonder where we would sit in the face of the United States and the rest of the free world forming a united front against China. Washington under President Joe Biden has given up hopes that China would embrace a free and democratic system as previously kindled by Richard Nixon’s pioneering 1972 visit. Now President Xi Jinping’s regime is viewed as an adversary, a strategic rival, or a global menace. The European Union, North Atlantic Treaty Organization (Nato), the United Kingdom, and regional allies all agree that the period of engagement has ended, given Xi’s aggressive, authoritarian one-party state which the West suspects is engaged in human-rights abuses, cyberhacking, trade, maritime disputes, among many others. Analysts see the combative approach of the US creating a powder keg that could explode at any time.

The Biden administration has set limits on business and investment in China, while retaining Trump’s trade sanctions. Enforced are extra penalties on Hong Kong and Xinjiang. Biden is now trying to outdo Xi’s Belt and Road global infrastructure masterplan and Covid vaccine diplomacy. He has also ordered the Pentagon to increase readiness for future military conflict. Biden’s latest accomplishment is his creation of a united front with US allies, which Trump had antagonized during his term. A joint statement endorsed by all 30 Nato members, plus the EU, Australia, New Zealand, and Japan, condemned “malicious” Chinese cyberattacks, such as the recent Microsoft Exchange software hack. The Duterte administration’s playing footsies with China could prove detrimental to the country’s national security. Aside from the Communist state’s island-grabbing in the West Philippine Sea, suspicions of cyber spying by Chinese companies with large business interests here refuse to die down. Just recently, Australian Senator James McGrath tagged Dito Telecommunity as a “Trojan Horse” in a speech before the Australian Senate this month. He warned that China was using Communist Party-controlled or owned instrumentalities, such as China Telecom and Dito Telecommunity, as “Trojan Horses” to infiltrate the infrastructure of smaller nations in the Indo-China region. McGrath emphasized that it was high time to counter the threat posed by an expansionist China. He was particularly concerned about China Telecom’s 40-percent share in Dito: “Many are concerned that Dito Telecommunity is a Trojan horse for spying, including on the Armed Forces

Creator Tech’s study revealed that “China Telecom reports to the Central People’s Government in China. This partner of Dito, which describes itself as a ‘main force for building a cyber power,’ is China’s preferred third mobile operator put forward by China’s leaders upon the request of President Duterte. This raises serious questions on cyber security, citizens’ privacy, and national interests. These will have serious repercussions on multiple fronts.”

of the Philippines [AFP] and its allies, the United States and Australia… When we consider how many Australian companies house parts of their businesses in the Philippines, such as call centers, this should ring alarm bells with cybersecurity experts.” He said that an “iron silk curtain was being drawn around our region as China expanded its influence. While China has continued with its wolf warrior diplomacy and, while territorial concerns continue to be raised, including in seas off Japan, Vietnam and the Philippines, the Chinese Communist Party government and its military arm have been quietly making strategic acquisitions of another kind.” The Australian lawmaker expressed fears that the Philippines might be “one of the first dominoes at risk of falling to the nefarious influence of that evil regime in China,” pointing out that Asia-Pacific consulting firm Creator Tech recently released a study into Dito Telecommunity that raised serious concerns about China’s entry into the Philippines telecommunications industry and its control of the national power grid in that country. Creator Tech’s study revealed that “China Telecom reports to the Central People’s Government in China. This partner of Dito, which describes itself as a ‘main force for building a cyber power,’ is China’s preferred third mobile operator put forward by China’s leaders upon the request of President Duterte. This raises serious questions on cyber security, citizens’ privacy, and national interests. These will have serious repercussions on multiple fronts.” According to the United States

Federal Communications Commission, the Chinese Communist Party Government has “substantial control” over China Telecom. China Telecom describes itself as “a main force for building a cyber power,” and bound by China’s National Intelligence Law article 7 which mandates that “[a]ny organization or citizen shall support and assist and cooperate with the state intelligence work in accordance with the law, and keep the secrets of the national intelligence work known to the public.” McGrath said he was also concerned about proposals in the Philippines under Senate Bill Number 2094 to allow 100 percent foreign ownership of public utilities, including telecommunications and transportation. “Filipino lawmakers are rightly concerned that this could allow China to own infrastructure which is crucial to the Philippines,” he said. Philippine Senator Risa Hontiveros recently renewed calls for the National Security Council to conduct a security audit on Dito Telecommunity, pointing out that the US has already blacklisted Chinese firms, including China Telecom, due to suspicions that they supply or support China’s military and security apparatus. “Let’s also not forget that under China’s National Intelligence law, Chinese corporations are obliged to support intelligence-gathering efforts,” Hontiveros said, adding that China also has a Chinese CounterEspionage Law which forbids Chinese companies from refusing to assist their government in surveillance work. Dito and the Department of Information and Communications Technology have repeatedly brushed off apprehensions that Dito’s facility’s “co-location” deal with the AFP might compromise the military’s cybersecurity. “We want to assure the public that Dito has a cybersecurity plan, as approved by the National Telecommunications Commission, and that the company will always protect the national and cybersecurity interests of the Philippines,” Dito Telecommunity Chief Administrative Officer Adel Tamano said.

For comments and suggestions, e-mail me at mvala.v@gmail.com

3 tech giants report combined profits of more than $50B

hree tech companies—Apple, Microsoft and Google owner Alphabet—reported combined profits of more than $50 billion in the April-June quarter, underscoring their unparalleled influence and success at reshaping the way we live. Although these companies make their money in different ways, the results served as another reminder of the clout they wield and why government regulators are growing increasingly concerned about whether they have become too powerful. The massive profits pouring into each company also illustrated why they have a combined market value of $6.4 trillion—more than double their collective value when the Covid-19 pandemic started 16 months ago.

Apple

Apple’s first iPhone model capable of connecting to ultrafast 5G wireless networks continued to power major increases in quarterly revenue and profits for tech’s most valuable company. With iPhone sales posting double-digit growth over the previous year for the third consecutive quarter, Apple’s profit and revenue for the April-June period easily exceeded analyst estimates. The Cupertino, California, company earned $21.7 billion, or $1.30 per share, nearly doubling profits earned during the same period last year. Revenue surged 36 percent to $81.4 billion. But in a Tuesday conference call with analysts, Apple CEO Tim Cook lamented that the steadily spread-

ing Delta variant of the coronavirus is casting doubt on how the rest of the year will unfold. “The road to recovery will be a winding one,” Cook said. That uncertainty has already led Apple to delay employees’ mass return to its offices from September to October. Most of Apple’s stores, though, are already open. The iPhone 12, released last autumn, is shaping up to be Apple’s most popular model in several years, largely because it’s the first to work on the 5G networks that are still being built around the world. Apple’s iPhone sales totaled nearly $40 billion in the latest quarter, up 50 percent from a year ago. Apple’s services division, the focal point of a high-profile trial revolving around the commissions it collects from iPhone apps, saw revenue climb 33 percent from last year to $17.5 billion. A potentially game-changing decision from the trial completed in May is expected later this summer. Among Apple’s upcoming challenges is whether shortages of computer chips and other key parts will force the company to delay its next iPhone this year, as it did last year. While Apple expects revenue to rise 10 percent in the current quarter, it said it may have more trouble getting parts for iPhones and iPad during the upcoming months. Executives

skirted questions about another possible iPhone delay.

Alphabet

Google’s earnings improved markedly over the year-ago period, when the pandemic was starting to bite consumer spending and its partner, advertising. Now that vaccines have allowed people to shed the shackles of the pandemic and splurge again, a big chunk of that pent-up demand has spurred advertisers to spend more too, with a big chunk going to Google and its corporate parent Alphabet Inc. Powered by Google, Alphabet earned $18.53 billion, or $27.26 per share, during the quarter, a nearly threefold increase from last year’s earnings of $6.96 billion, or $10.13 per share. Google’s advertising revenue soared 69 percent to $50.44 billion thanks to what CEO Sundar Pichai called a “rising tide” of online activity among consumers and businesses. Retail, along with travel and entertainment ads, were the biggest contributors to the revenue increase, the company said. Total revenue surged 62 percent from last year to $61.88 billion. Revenue after subtracting TAC, or traffic acquisition costs, was $50.95 billion. The April-June quarter looks particularly strong since the 2020 downturn forced Google to report its first decline in quarterly ad revenue from the previous year. Analysts were expecting Alphabet to earn $19.24 per share on revenue of $56.2 billion, and $46.2 billion after subtracting TAC. Alphabet’s

stock jumped $135, or 5.1 percent, to $2,773 in after-hours trading after the results.

Microsoft

Microsoft on Tuesday reported fiscal fourth-quarter profit of $16.5 billion, up 47 percent from the same period last year. Net income of $2.17 per share beat Wall Street expectations. The software maker also topped forecasts by posting revenue of $46.2 billion in the quarter that ended on June 30, a 21 percent increase over the same time last year. Analysts were expecting Microsoft to earn $1.91 per share for the AprilJune quarter on revenue of $44.1 billion. Microsoft profits have soared throughout the pandemic thanks to ongoing demand for its software and cloud computing services for remote work and study. After an initial dip in after-hours trading, the company’s shares later recovered and were up by less than 1 percent. Growth in sales of Microsoft’s cloud services, which compete with Amazon and other companies, and its Office productivity tools for handling work documents and email both outpaced overall revenue growth. The company’s historical pillar—personal computing—grew just 9% in the quarter. Microsoft noted that supply issues were affecting its personalcomputing division, including for its Surface and Windows products. The company recently unveiled the next generation of Windows, called Windows 11, its first major update in six years. It will be available later this year. AP

Sports

NESTHY PETECIO secures a unanimous 5-0 victory over Colombia’s Yeni Marcela Arias Castaneda to assure herself of a bronze medal. AP

BusinessMirror

A14

| Thursday, July 29, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Juvic kicks off gold medal quest in men’s Olympic golf

OKYO—Juvic Pagunsan sets off as another gold medal potential when the men’s golf competition at the Tokyo Olympics gets going on Thursday at the Kasumigaseki Country Club in Saitama. Pagunsan will be facing one of the toughest challenges in his career as he plunges into the 120-player field that includes US Open champion Collin Morikawa of the US, Ireland’s Rory McIlroy and reigning Masters champion Hideki Matsuyama of the host country. Pagunsan, as well as lady golfers Yuka Saso and Bianca Pagdanganan, are expected to follow Hidilyn Diaz’s gold medal success in weightlifting. PAGUNSAN

“With Hidilym’s historical win, and the upcoming success of our boxers, our golfers are flowing with pride and honor and nationalism,” National Golf Association of the Philippines secretary general Bones Floro said. “What better inspiration than to add to an entire nation’s success.” The par-71 Kasumigaseki Country Club is located in Kawagoe City in Saitama Prefecture, some 70 kms away from the Olympic Village in Tokyo. Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino agreed to have the golfers billeted at a hotel near the venue to spare them of the discomforts of a long land travel. Pagunsan, for so long the country’s top men’s player, tees off in one of the last flights of the day with Zimbabwe’s Scott Vincent and Paraguay’s Fabricio Zanotti. Although a regular in the Japan Tour where a victory in the Mizuno Open got him in the Olympics, Pagunsan never played tournament golf at Kasumigaseki course. US Women’s Open champion Yuka Saso and Bianca Pagdanganan start their own campaign in women’s golf on August 4. Jun Lomibao

PHL, Thailand going head-to-head

OKYO—Thanks to Hidilyn Diaz’s gold medal in weightlifting, the Philippines stood head-and-shoulder with Thailand on the medal tally board five days into the Tokyo Olympics. The Philippines and Thailand are locked with five other countries which have so far won one gold medal each in the Games that aren’t halfway through yet but with the China, host Japan and the US jostling for the top three positions. Panipak Wongpattanakit topped taekwondo’s women’s -49 kgs class to keep the Thais at par with the Filipino athletes, who are already guaranteed of a bronze medal following Nesthy Petecio’s entry to boxing’s women’s featherweight semifinals. Indonesia was the only other Southeast Asian country on the medal tally board with one silver— Eko Yuli Irawan (men’s 61 kgs)— and one bronze—Windy Cantika Aisah (women’s 49 kgs), both in weightlifting. Thailand is the most successful

among the Southeast Asian countries in the Olympics with 10 gold, eight silver and 16 bronze medals, followed by Indonesia with 7-14-13 (gold-silver-bronze) and the Philippines with 1-3-7. As of late afternoon on Wednesday, China led the medals table with 11-5-8, followed by Japan with 11-4-5 and the US with 10-11-9. The Russian Olympic Committee was next with 7-8-4 and Australia with 6-1-8. All but one of the 206 member countries—North Korea opted to skip the Games—are in Tokyo, with athletes from Russia, currently suspended by the International Olympic Committee for systematic doping, competing under the Russian Olympic Committee banner. Jun Lomibao

PHILIPPINE Sports Commission Chairman William “Butch” Ramirez says Hidilyn Diaz’s success is a team effort.

Team Diaz model formula for success –Chairman Ramirez

NESTHY ADVANCES TO MEDAL ROUND T By Jun Lomibao

OKYO—Nesthy Petecio took care of unfinished business in the boxing competitions at the Kokugikan Arena at about the same time Hidilyn Diaz was boarding a plane for home bringing with her the Philippines’s first Olympic gold medal. Petecio hogged the spotlight after stitching a unanimous 5-0 victory over Colombia’s Yeni Marcela Arias Castaneda in a women’s featherweight quarterfinals bout, assuring the country of its second medal—a bronze—in these Olympics that remained steadfast against the Covid-19 pandemic. Petecio made sure Castaneda didn’t bring the fight to her advantage, employing a hit-andrun tactic that sent the Colombian wondering how to repeat over the Davaoeña, whom she beat in the 2018 world championships in New Delhi. “I am so happy for this moment. This is my first Olympics and I have won my first medal,” said Petecio, who after nothing her third straight win is two victories shy of a gold medal. “I don’t really know how I feel right now. This tournament is proving so special to

SLOVENIA’S Primoz Roglic pedals to the men’s individual time trial gold medal of cycling at the Tokyo Olympics in Oyama, Japan, on Wednesday. Roglic clocks 55 minutes and 4.19 seconds in winning the 44.2-kilometer race with Dutch Tom Dumoulin (1:01.39 behind) clinching silver and Australian Dennis Rohan (1:03.90) bagging bronze. AP

OKYO—Watch out for Elreen Ann Ando come the Paris 2024 Olympics. “That girl is good. Take care of her,” Monico Puentevella quoted International Weightlifting Federation secretary general Hasan Jalood Mohammed as saying when the Olympic newcomer competed in women’s 64 kgs class of weightlifting on Tuesday night at the Tokyo International Forum. Puentevella, president of

me, I am just so blessed.” Petecio, who earned scores of 3027 from two judges and 29-28 from the other three, already eliminated the biggest stumbling block in her quest for the gold medal. She eliminated tournament top seed and world No. 1 in Chinese Taipei’s Li Yun-Ting via a split decision on Monday. The win assured the Philippines of another medal that will go with Diaz’s women’s -55 kgs she won on Monday night. Diaz’s gold medal already made this Tokyo campaign as the most successful not only for the country but for the weightlifter from Baragay Mampang in Zamboanga City—it was the Philippines’s first medal in 25 years since Mansueto “Onyok” Velasco’s boxing silver in Atlanta 1996. Diaz also joined multiple-medal winners Simeon Toribio (high jump), Jose Villanueva (boxing) and Teofilo Ydefonso (swimming). Petecio dictated the tempo right from the opening bell, maintaining her left-handed stance against the right-handed Colombian. Crisp right-left combinations spiced with sneaky upper cuts did most of the scoring for Petecio as Castaneda couldn’t unleash her counter-punching style against the wily Filipina. “The plan was to get her out of her comfort zone,” said Petecio, who could find herself in the gold medal

Watch out for Ando! the Samahang Weightlifting ng Pilipinas, said that although Ando wasn’t good for a podium finish at the Tokyo Olympics, the sport’s international officials were excited about her future. “That’s the same thing Hasan Mohammed told me when he first saw Hidilyn (Diaz),” Puentevella said.

Olympic outsider teams celebrate rare gold medals in Tokyo Games

OKYO—The Tokyo Olympics have brought some unexpected gold medals for countries and teams which rarely, if ever, see their athletes on the podium. Here’s a look at some of the teams which have won events despite having little history of Olympic success. n PHILIPPINES AFTER 97 years of competing at the Olympics, the Philippines finally has a gold medal to celebrate. Hidilyn Diaz was up against the world record holder in the women’s 55-kilogram weightlifting category but still won. Diaz is now looking forward to a long-awaited return home after the coronavirus pan-

demic left her stranded in Malaysia without seeing family and friends. “To all the young generation in the Philippines, please dream high,” Diaz said. n BERMUDA THE Atlantic island of only 65,000 people—they could all fit into the Olympic Stadium in Tokyo—has its first gold medalist after Flora Duffy won the women’s triathlon on Tuesday. She is one of only two athletes representing the self-governing British territory at the Tokyo Games. Duffy had to put up with wind and driving rain to win her gold as a storm moved up the Japanese coast. “I

was Bermuda’s first medal hope in many years. I wanted to achieve this for myself and my country. I was overwhelmed,” she said. n HONGKONG

HONGKONG last won a gold medal 25 years ago, a year before the port city was returned to China from Britain. Windsurfer Lee Lai Shan had a sculpture installed in her honor on the beachfront. Fencer Cheung Ka Long could be in line for a similar honor after he became Hong Kong’s second Olympic champion with victory in the men’s saber on Monday. “It means a lot to show to the world we can do it,” Cheung said.

round if she beats Italy’s Testa Irma at 12:39 p.m. (Manila time) on Saturday. Irma, who at 5-foot-8 could give the 5-foot-2 problems like Li, defeated Canadian foe Caroline Veyre, also 5-0 on Wednesday, to enter the semifinals. “We watched the Colombian the other day and she was very aggressive. So the plan was to try and counter-punch, but she changed her plan today and stood there just waiting for Nesthy,” said the Philippine team’s Australian coach Don Abnett. “In the second round, they were too close, they were wrestling. We told Nesthy not to turn the fight into a scrap but to pick her punches as she has the talent to do that,” Abnett added. All four Filipino boxers in these Games are unscathed. On Thursday, Eumir Felix Marcial, predicted by Association Press to win a gold medal here, debuts against Younes Nemouchi of Algeria in the men’s middleweight division at 10:48 a.m. (Manila time), while Irish Magno, fresh from her 5-0 demolition of Kenyan Christine Ongare, in the flyweight class, takes on Thailand’s Jutamas Jitpong at 12:24 p.m. (Manila time). Carlo Paalam, after posting a 4-1 win over Ireland’s Brendan Irvine, fights Algeria’s Mohamed Flissi on Saturday at 10:48 a.m. (Manila time).

n KOSOVO SOMETIMES it pays to specialize. Kosovo has made its name in judo since making its debut at the 2016 Rio de Janeiro Olympics. The Balkan nation has three medals in its history—all of them gold, all won by women and all in judo. Majlinda Kelmendi blazed the trail when she won the 52-kilogram category five years ago. When Distria Krasniqi and Nora Gjakova both won gold in Tokyo, Gjakova paid tribute to Kelmendi’s pioneering example, saying “she opened the door for us to dream big.” n TUNISIA THE North African country had won four gold medals since it’s

Diaz was a wildcard at 18 years old at the Beijing 2008 Olympics but progressed into a gold medalist in Tokyo. Ando, too, finished without a medal at seventh place in Tokyo but left a trail full of promise. Puentevella said the association is ready to invest in the 22-year-old from Cebu City. Olympic debut at the 1960 Rome Games. Make that five after a surprising win from the outside lane by 18-year-old swimmer Ahmed Hafnaoui in the men’s 400-meter freestyle. “I was in tears in my eyes because when I see the flag of my country and I hear the anthem in the background, it was great,” Hafnaoui said. He could reach the podium for the second time in the upcoming 800, which has a final Thursday. n ESTONIA THE northern European country of 1.3 million marked its first Olympic gold medal since 2008 and first in fencing after it’s women’s épée team beat South Korea 36-32 in the final. Katrina Lehis scored the decisive points after the score was level going into the final bout and said

OKYO—Philippine Sports Commission (PSC) Chairman William “Butch” Ramirez emphasized on Wednesday that the Team Diaz (TD) model is testament to a comprehensive and effective template that guarantees success on the Olympic stage. TD refers to Team Hidilyn Diaz who, on Monday, resulted to Diaz winning the country’s first Olympic gold medal. After her silver medal in Rio de Janeiro 2016, the PSC board heeded the requests of the Samahang Weightlifiting ng Pilipinas to fully support Diaz as she set her sights on Tokyo 2020. “We have limited resources but we saw her potential so we took the chance,” Ramirez said. The Team Diaz, Ramirez said, consisted of the hiring of a foreign coach, strength and conditioning coach, masseuse, sports psychologist and sports nutritionist. Diaz had all of them. Seeing the effect, Ramirez and PSC commissioners Celia Kiram, Arnold Agustin, Ramon Fernandez and Charles Raymund Maxey provided the same support— based on their customized requirements—for gymnast Carlos Yulo, pole vaulter EJ Obiena and judoka Kiyomi Watanabe, all Tokyo Olympians. “I have always said that experience is an advantage. It took Hidilyn four Olympic cycles to finally attain her golden dream,” said Ramirez, who was also PSC chairman when a then 18-year-old Diaz competed in her first Olympics in Beijing 2018. The PSC has quietly supported the national team, spending at least P2.7 billion on training, uniforms, foreign exposure, equipment, nutrition, foreign coaches and technology. Ramirez said Tokyo 2020 is in itself a template and jumping board for athletes who could deliver medals in Paris 2024. “I am looking forward to Paris 2024, which has now become rosier in terms of medal expectations,” Ramirez said. “By then, we have a more mature team to field.” “I think it gives everyone more impetus to plan and start their preparations,” Ramirez said. “But in the meantime, let’s savor this Tokyo Olympics success.” Jun Lomibao “What I’m doing to Ando is what I did to Hidilyn,” said Puentevella, shortly before their departure for Manila on Wednesday morning. Ando was 10 kilograms short of the winning lift of eventual gold medal winner Maude Charron of Canada. Silver medalist Giorgia Bordignon of Italy was also way ahead of Ando with a total lift of 232kg. But Puentevella is hopeful a good program for Ando could make her a medal contender in future Olympics. Jun Lomibao team spirit was crucial to the win. The team got a call from President Kersti Kaljulaid shortly after and Lehis has high hopes for the future of fencing back home. “I think we are kind of like the national sport now,” she said. n TURKMENISTAN IT wasn’t quite a gold medal, but it still meant a lot to Turkmenistan, a sparsely populated, gas-rich nation in Central Asia. Polina Guryeva was the first athlete representing an independent Turkmenistan, rather than the former Soviet Union, to stand on an Olympic podium with silver in weightlifting. Her final lift to secure a medal sparked vocal celebrations among team officials in the audience, who embraced and held up large flags. “I think I’ve entered the history of Turkmenistan,” Guryeva said. AP

Editor: Jennifer A. Ng

Companies BusinessMirror

Thursday, July 29, 2021

Malampaya shutdown to hike generation charge–Meralco

By Lenie Lectura

@llectura

he Manila Electric Co. (Meralco), the country’s largest electricity distribution utility, is anticipating an increase in power generation charge after the Malampaya gas facility shuts down in October. The company, however, assured it has sufficient power supply to service its customers until the election season next year. “Yes, we anticipate that there will be an increase in generation charge as always because the 1,500 megawatts (MW) of natural gas will be replaced by liquid fuel. But, as of this time, it’s very difficult to speculate how much exactly the increase will be because we are actually using blended supply mix,” said Meralco First Vice President and Regulatory Management Head Jose Ronald Valles. The scheduled maintenance at the Malampaya gas facility will start on October 2 and end on October 22, 2021. Malampaya currently supplies 5 gas plants with a combined capacity of 3.2 gigawatts under term supply deals due to expire in 2024. These are the 1,200MW Ilijan, 1,000MW Sta. Rita, 500MW San Lorenzo, 97MW Avion and the 420MW San Gabriel. Valles said Sta. Rita and San Lorenzo plants will utilize liquid fuel

during the Malampaya gas facility shutdown. This is more expensive than using gas. The Ilijan plant, however, will continue to supply Meralco even when there is no gas from the Malampaya facility as stipulated in their contract. “They would have to continue delivery of power even when there’s no fuel, so they are supposed to be 100 percent available. Ilijan will continue to deliver supply under the same contracted rate, so there will have to be no additional increase to the consumers,” said Valles. He assured that Maralco has sufficient power requirements to service its more than 7 million customers during the Malampaya shutdown. “[The] Meralco franchise is covered by sufficient contracts and sufficient capacities even during this outage period of Malampaya.” “With respect to the election period next year, we have contracted the extension of the Masinloc power PSA (power supply agreement), which is

260MW, and that contract actually provides for a one-year period and that will end around June 2022 assuming that it is finally given approval by the Department of Energy and the Energy Regulatory Commission. So that will cover us for the summer months next year.” Meralco’s average power retail rates in the first half dropped further by 3 percent on account of lower charges in generation, transmission, system loss. Valles said retail rates declined to P7.92 per kilowatt hour (kWh) from the P8.19/kWh registered in the same period last year. Lower generation charges— which represented 57 percent of the total retail price— accounted mostly for the drop. During the period, generation charges slipped by 1.3 percent to P4.5 per kWh due to the decrease in charges from the Wholesale Electricity Spot Market, coupled with lower fuel prices, and the peso appreciation. Average retail rates went down in contrast to the higher inflation recorded during the first half. Based on data from the Philippine Statistics Authority (PSA), inflation in the first six months settled at 4.4 percent, compared with the 2.5 percent recorded in the same period last year. Meanwhile, the implementation of transmission over-recoveries refund between January and April coupled with the lower ancillary service charges reduced transmission

ECs told to pay overdue power bills

he Power Sector Assets and Liabilities Management Corp. (PSALM) has issued final warnings to two electric cooperatives (ECs) and a private corporation to compel them to pay over P15.01 billion worth of combined overdue electricity bills and other charges. PSALM said it has sent final demand letters to Lanao del Sur Electric Cooperative, Inc. (LASURECO), Albay Electric Cooperative (ALECO) and Waterfront Airport Hotel and Casino (WAHC) for payment of their arrears, some dating back more than 10 years ago. Bulk of these unpaid obligations was incurred by LASURECO which, as of May 31, owed P11.98 billion in overdue power bills and another P10.37 million in unremitted universal charge (UC) collections, excluding late remittance of interest charges, or a total of P 11.99 billion. ALECO’s obligations amounted to P3.01 billion, of which P2.99 bil-

lion are unpaid electricity bills and P25.67 million are unremitted UC collections. WAHC’s unpaid power bills, meanwhile, amounted to P24.99 million, as of April. The three firms were each given 7 calendar days from receipt of the demand letters to pay their respective arrears or face legal action. “These are long overdue accounts, some dating back more than 10 years ago. Fairness and equity dictate that these firms pay for the electricity that they had consumed just like other consumers who pay their electricity bills on time,” PSALM President and CEO Irene Besido Garcia said. According to PSALM, LASURECO’s power billings for 2020 alone amounted to P498.58 million. However, the firm only managed to pay P2.5 million or half of a percent of its 2020 bill. Despite this, Garcia said PSALM continued to provide LASURECO’s

power requirements in full and even increased its supply for this year to ensure that hospitals in the province of Lanao del Sur will not experience power outages and are able to operate in their normal capacities amid the Covid-19 pandemic. Garcia and PSALM Vice President for Finance Manuel Marcos Villalon II told the firms in the letters that PSALM “shall be constrained to avail of all appropriate legal remedies to protect PSALM and the Philippine Government’s interests, including the filing of criminal, civil and administrative cases” against their officers and directors. In the final demand letters sent by Garcia and Villalon to LASURECO and ALECO, the two electric cooperatives were informed that they can opt to either enter into a restructuring agreement or a special payment arrangement with PSALM for the settlement of their respective overdue power accounts. Bianca Cuaresma

Hidilyn Diaz is PAL’s first ‘forever flyer’

lympic gold medalist Hidilyn Diaz is Philippine Airlines’ (PAL) first “forever flyer” after the flag carrier rewarded her with 80,000 free miles per year for life. PAL’s reward is equivalent to five economy round trip domestic flights or two round trip economy regional flights or one round trip economy international (Transpacific) flight per year. PAL President and COO Gilbert Santa Maria said as Olympic weightlifting champion, Diaz’s lifetime flight miles is the flag carrier’s way of rewarding her for bagging the country’s first Olympic Gold. “We shall honor this exemplary achievement by giving Miss Diaz 80,000 free miles per year for life. This makes her not only the first

BusinessMirror file photo

Filipina Olympic gold medalist, but also Philippine Airlines’ first Forever Flyer,” said Santa Maria. The Philippines’s first-ever Filipino Olympic gold medalist will be able to fly across PAL’s domestic, regional and international route network using her flight miles. “It has long been the flag carrier’s mission to support outstanding Filipino athletes to enable them to showcase their skills to the world. Hidilyn’s life journey exemplifies hard work, determination and powerful faith, all

of which led her to her Olympic victory and the new world record she set.” PAL has in recent years sponsored or assisted the travel of about 300 young underprivileged Filipino athletes, performers and other artists representing the Philippines in global competitions. This is carried out through the PAL Foundation’s #RPRSNTPinoy program which aims to inspire a new generation of Filipinos to aspire for excellence, pursue their dreams and ultimately contribute to their respective communities. Diaz is now the pioneer member of a new “Forever Flyer” program that PAL is rolling out in the coming months to enable more travelers to “Fly for Life.” Recto L. Mercene

charges by 7.5 percent to P0.73 per kWh. Transmission charges made up 9 percent of the total retail price. System losses, which accounted for 3 percent of the retail price, were down by 6.8 percent to P0.28 per kWh due to the implementation of system loss over-recoveries refund between January and April, coupled with lower generation and transmission costs. Distribution charges inched up by 0.1 percent as residential sales continued to increase due to the imposition of enhanced community quarantine. Rates were also tempered by Meralco’s continued implementation of the Distribution Rate True-Up refund which began in March. Subsidies, taxes, and universal charges were lower by 5.8 percent to P0.85 per kWh because of lower effective taxes. FIT-Allowance, which accounted for 1 percent of the retail rate, increased by 60.5 percent to P0.0983 per kWh from P0.0495 as a result of the implementation of higher FIT-All rate starting January.

Tiu acquires stake of foreign investor in Greenergy By VG Cabuag @villygc

usi n essma n A nt o n io Tiu, who owns listed firm Greenenergy Holdings, is consolidating his ownership of Greenergy and his agribusiness company AgriNurture Inc. In its disclosure, Greenergy said Tiu has acquired all the shares held by Thomaslloyd Cleantech Infrastructure Fund GMBH in Greenergy. Tiu acquired 207.8 million common shares or 11.54 percent of the company from Cleantech for P415.5 million. “As a result of the acquisition of the said shares, Tiu shall hold a total of 510.5 million common shares or equivalent to 28.35 percent of the total issued and outstanding shares of Greenergy while Cleantech will no longer hold any shares in the company,” the disclosure read. Cleantech is the foreign investor behind Greenergy’s 20 megawatt San Carlos biopower plant in Negros 2012. It divested in 2014. The move to expand and consolidate his ownership of Greenergy is part of Tiu’s overall goal to create a bigger conglomerate aimed at addressing the Filipinos’ need for

agricultural products, financial technology or fintech, clean energy, sustainable real estate and bio technology, the company said. This is consistent with Tiu’s vision of advancing green projects which should be resilient to the Covid-19 pandemic, with the overall aim of maximizing opportunities for business growth, enhancing shareholder value and more importantly, helping meet the needs of underserved Filipino consumers, it said. Tiu is planning to convert Greenergy into a holding firm to own AgriNurture, his agro-commercial business; fintech; green infrastructure, bio tech, and renewable energy projects to realize his vision GREEN2030. As part of the plan, Tiu will consolidate AgriNurture shares to Greenergy as part of the company’s conversion into a bigger holding firm and infuse the fintech assets such as digital bank and the agritoken ecosystem. Greenergy currently owns 100 percent of WinSun Green Ventures, 62.3 percent of Sunchamp Real Estate Development Corp., 51 percent of the Yakuru Group and now almost 20 percent of AgriNurture.

Thursday, July 29, 2021

Companies BusinessMirror

ICTSI partners with Microsoft for centralized data platform By VG Cabuag

@villygc

ort operator International Container Services Inc. (ICTSI) has signed a long-term partnership with Microsoft to enable a centralized and integrated data platform across its terminals worldwide to ensure improved operational efficiency. “With the help of Microsoft technology, our new data platform gives us 24x7 visibility and critical system monitoring services

across all our global terminals in every market we operate in,” Brian Hibbert, ICTSI chief information officer, said. “This innovation is a gamechanger for us, driving improved efficiencies and will enable us to better engage with our partners and customers.” The new integrated data platform called Microsoft Azure will allow ICTSI to have an enterprise view of all their terminal operations and connect future deployment of platforms for internal and external services to drive innovation and economies of scale. To date, two terminals have been onboarded, and ICTSI’s focus is to connect the majority of its terminals to the data platform. “Digital transformation projected to happen over the next

10 years is happening today. Covid-19 has challenged organizations but has also accelerated the creation of untapped business opportunities and models,” Ella Dujali-Mangubat, customer success lead at Microsoft Philippines said. “Our focus is to provide our customers and partners with a foundation that will enable the specific outcomes they need today and tomorrow—whether it’s massive disruption and digital transformation or pockets of meaningful innovation. We’re eager to continue building with ICTSI and help them accelerate their resilience and growth strategies around the world.” In addition to building the data platform, ICTSI is migrating its terminal operating system called Navis N4 to Microsoft Azure. So far, two terminals—Subic Bay International Terminals and Mindanao Container Terminal—have successfully migrated to Azure. These terminals now benefit from increased performance, better security, and seamless transactions to their customers and partners. The TOS of terminals in Brazil and Argentina will soon be migrated to Azure as well. Microsoft started with a pilot data lake to demonstrate how the Azure solution can serve as ICTSI’s centralized and integrated platform from which future applications, both internal and external, can be connected.

Microsoft also provided a detailed solution and migration path for moving Navis N4 to Azure as well as roadmap to support ICTSI’s future aspirations. “Everything went smoothly, and we completed the migration activities ahead of schedule. The system users have become more responsive after the migration to Azure,” Hibbert said. “The infrastructure is essential but only the foundation. We are working in many areas together, including data analytics, digital platform services, API [application programming interface] delivery, and web and mobile applications for customers. This is the beginning of a very exciting journey that is all designed to ensure all of our terminals offer great digital experiences to our customers.” ICTSI also aims to enable further innovations by opening up its data platform to the public thru an API layer and allow access to citizen developers to build their apps and services. The company is looking to partner with other private organizations to create an open data platform where they can exchange data. ICTSI’s goal is to encourage a start-up mentality and drive innovation in the Philippines in partnership with Microsoft, the companies said.

mutual funds

July 28, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

210.15

8.81%

-6.97%

-5.5%

ATRAM Alpha Opportunity Fund, Inc. -a

1.3566

37.77%

-2.83%

-0.54%

3.32%

11.88%

-11.26%

-8.16%

-7.57%

Climbs Share Capital Equity Investment Fund Corp. -a 0.73742 11.04%

-6.66% n.a.

-8.27%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7195 11.86%

-5.78% n.a.

-2.98%

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

-5.12%

-3.71%

-6.22%

5.92%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8959

4.6338

11.75%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6893

-7.51%

-7.91%

-7.78%

MBG Equity Investment Fund, Inc. -a

97.23

25.88%

-3.68% n.a.

-4.62%

PAMI Equity Index Fund, Inc. -a

42.9133

10.97%

-5.39%

-4.52%

-8.4%

Philam Strategic Growth Fund, Inc. -a

451.96

8.49%

-5.05%

-4.85%

-7.57%

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

1.0428

23.26% n.a. n.a.

-4.97%

Philequity Dividend Yield Fund, Inc. -a

1.1089

12.8%

-4.41%

-3.62%

-5.08%

Philequity Fund, Inc. -a

32.3419

11.82%

-4.47%

-3.39%

-6.98%

9.31% n.a. n.a.

-8.35%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8368

Philequity PSE Index Fund Inc. -a

4.4017

11.75%

-4.78%

-3.78%

-8.13%

Philippine Stock Index Fund Corp. -a

736.6

11.7%

-4.69%

-3.9%

-8.11%

Soldivo Strategic Growth Fund, Inc. -a

0.6732

13.24%

-8.28%

-6.83%

-6.36%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3693

10.43%

-6.66%

-5.05%

-7.02%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8409 11.22%

-5.05%

-4.05%

-8.37%

United Fund, Inc. -a

-5.07%

-3.12%

-7.12%

-4.48%

-3.37%

3.0826

11.02%

-9.28%

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

98.8724

11.67%

-8.07%

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

$1.1886

16.2%

4.1%

6.34%

-1.19%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8188

26.68%

11.47%

12.07%

8.73%

-0.66%

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

1.6576

7.16%

-0.59%

-2.45%

ATRAM Philippine Balanced Fund, Inc. -a

2.1572

6.4%

-2.05%

-2.26%

-5.61%

First Metro Save and Learn Balanced Fund Inc. -a 2.5126

5.78%

-1.43%

-1.59%

-4.35%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1878

3.02% n.a. n.a.

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

1.9051

4.68%

0.72%

-0.62%

-3%

PAMI Horizon Fund, Inc. -a

3.5748

3.89%

-0.36%

-1.96%

-5.63%

Philam Fund, Inc. -a

16.0305

4.53%

-0.21%

-1.91%

-5.35%

Solidaritas Fund, Inc. -a

1.9977

5.69%

-1.68%

-1.56%

-4.6%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4113 5.96%

-2.61%

-2.91%

-4.53%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.964

3.95% n.a. n.a.

-5.73%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8668

5.25% n.a. n.a.

-8.68%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8513

6.81% n.a. n.a.

-8.77%

Sun Life Prosperity Dynamic Fund, Inc. -a

7.39%

-4.38%

0.8488

-3.35%

-5.44%

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

$0.03833

-2.32%

2.79%

1.32%

PAMI Asia Balanced Fund, Inc. -b

$1.095

7.82%

2.68%

3.54%

-4.8%

19.53%

8.84%

8.45%

5.83%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2241 9.25%

5.16%

4.62%

1.83%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.776

-2.02%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 28, 2021

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

BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG MEDCO HLDG MANULIFE PHIL STOCK EXCH

104.2 83 24 7.98 9.35 44.8 10.28 20.3 19.2 109.6 75.85 1.21 4.33 2.89 0.35 910.5 210

104.5 83.1 24.2 8.21 9.39 45.1 10.6 20.45 19.4 109.8 76.25 1.29 4.38 2.9 0.37 975.5 217

106 84.2 24.45 8.48 9.4 45.15 10.48 20.8 19.4 112 76.25 1.25 4.43 2.9 0.35 915 220

107.8 84.2 24.45 8.49 9.42 45.15 10.48 20.8 19.4 112 76.25 1.29 4.43 2.9 0.35 915 220

104.2 82.2 23.95 8.48 9.35 44.3 10.48 20.3 19 109.6 75.85 1.2 4.32 2.9 0.35 915 210

104.2 83.1 24 8.49 9.35 45.1 10.48 20.3 19.2 109.8 75.85 1.29 4.32 2.9 0.35 915 210

2,576,110 1,222,150 123,400 1,100 63,000 1,436,200 1,500 166,300 79,000 281,310 750 438,000 63,000 19,000 310,000 280 1,530

272,021,911 101,304,127 2,962,600 9,332 590,321 64,359,225 15,720 3,404,585 1,504,424 30,950,143 57,153.50 531,950 274,040 55,100 108,500 256,200 324,816

-5,766,684 -64,617,349.50 -52,575 -31,555,905 -482,065 -11,782,583 22,127 7,200 -16,740 -

INDUSTRIAL AC ENERGY 7.8 7.83 8 8 7.78 7.8 22,993,400 179,980,272 ALSONS CONS 1.22 1.25 1.29 1.29 1.21 1.23 692,000 842,030 ABOITIZ POWER 23.75 23.8 24.3 24.3 23.75 23.8 1,882,600 45,046,045 BASIC ENERGY 0.5 0.51 0.57 0.57 0.49 0.5 65,416,000 33,369,855 FIRST GEN 27.85 27.95 28.25 28.3 27.9 27.95 686,700 19,196,470 73.9 74.95 75.9 75.9 73.9 74.95 1,130 84,685 FIRST PHIL HLDG 267 269 272 272 267 267 199,320 53,371,394 MERALCO 16.68 16.7 16.6 16.94 16.5 16.68 1,028,700 17,063,306 MANILA WATER 3.11 3.12 3.16 3.17 3.11 3.12 520,000 1,629,050 PETRON 3.93 4.05 3.98 4.05 3.98 4.05 26,000 104,060 PETROENERGY PHX PETROLEUM 12.48 12.9 12.9 12.9 12.9 12.9 10,000 129,000 PILIPINAS SHELL 19.2 19.3 19.5 19.5 19.3 19.3 475,100 9,210,560 SPC POWER 11.68 11.76 11.78 11.9 11.6 11.68 61,200 716,024 VIVANT 15 16 17 17 14.72 15 4,600 68,788 5.85 5.98 5.9 6 5.85 5.99 1,193,700 7,143,288 AGRINURTURE 2.71 2.78 2.8 2.8 2.71 2.71 81,000 221,630 AXELUM 24.7 24.9 25 25 24.4 24.9 3,886,500 95,647,670 CENTURY FOOD 17.1 17.18 17.3 17.3 16.32 17.1 991,000 16,517,358 DEL MONTE 8 8.02 8.19 8.19 7.93 8 1,399,500 11,201,663 DNL INDUS EMPERADOR 12.74 12.9 12.78 12.98 12.68 12.74 1,454,200 18,681,578 SMC FOODANDBEV 81 81.35 81.7 81.8 81 81 83,690 6,804,991 ALLIANCE SELECT 0.65 0.66 0.64 0.65 0.64 0.65 189,000 122,750 FRUITAS HLDG 1.21 1.22 1.23 1.23 1.2 1.22 911,000 1,099,580 88 88.75 89.95 89.95 86.2 88.75 11,560 1,027,701.50 GINEBRA 190.5 190.8 194.5 194.5 188.5 190.5 837,550 159,470,020 JOLLIBEE 5.99 6 6 6 5.98 5.99 100,200 600,585 MAXS GROUP MG HLDG 0.23 0.238 0.23 0.24 0.225 0.23 810,000 188,300 14.88 14.9 14.9 15 14.76 14.88 4,131,900 61,382,764 MONDE NISSIN SHAKEYS PIZZA 7.46 7.5 7.7 7.8 7.48 7.5 206,900 1,554,251 ROXAS AND CO 1.02 1.04 1.03 1.06 1.01 1.04 5,643,000 5,814,580 RFM CORP 4.6 4.72 4.62 4.62 4.62 4.62 2,000 9,240 ROXAS HLDG 1.37 1.4 1.4 1.4 1.4 1.4 9,000 12,600 0.131 0.132 0.135 0.136 0.13 0.132 3,660,000 487,870 SWIFT FOODS UNIV ROBINA 132.5 133.5 134 134 129.6 133.5 1,052,650 138,792,343 0.78 0.79 0.78 0.79 0.77 0.79 435,000 341,760 VITARICH CONCRETE A 49.6 52.75 49.55 49.55 49.5 49.5 530 26,242.50 CEMEX HLDG 1.2 1.21 1.23 1.23 1.2 1.21 1,450,000 1,755,970 EAGLE CEMENT 14.54 14.96 14.4 15 14.4 14.96 345,800 5,094,086 EEI CORP 7.8 8 7.6 8 7.6 8 672,900 5,345,247 HOLCIM 6.4 6.5 6.35 6.55 6.25 6.4 2,209,500 13,888,418 MEGAWIDE 6.2 6.21 6.31 6.31 6.2 6.2 319,400 1,983,625 14.1 14.38 14.1 14.1 13 14.1 169,900 2,366,662 PHINMA 0.99 1.01 1 1.01 0.99 1.01 36,000 35,670 TKC METALS VULCAN INDL 1.5 1.52 1.61 1.66 1.5 1.5 6,754,000 10,680,380 1.67 1.69 1.67 1.71 1.66 1.66 58,000 97,040 CROWN ASIA 1.83 1.88 1.88 1.88 1.87 1.88 13,000 24,430 EUROMED MABUHAY VINYL 5.2 5.3 5.31 5.31 5.3 5.3 1,700 9,017 PRYCE CORP 5.35 5.4 5.4 5.4 5.35 5.35 53,000 283,700 CONCEPCION 20.05 20.85 20.05 20.85 20.05 20.85 800 16,280 GREENERGY 2.38 2.39 2.48 2.49 2.31 2.38 10,770,000 25,552,230 8.8 8.89 9.1 9.1 8.7 8.8 376,900 3,328,170 INTEGRATED MICR 0.93 0.97 0.92 0.94 0.92 0.94 174,000 160,900 IONICS SFA SEMICON 1.22 1.25 1.23 1.25 1.21 1.25 199,000 243,280 4.8 4.81 5.02 5.02 4.78 4.81 5,827,000 28,442,072 CIRTEK HLDG

67,221,611 19,680 -3,582,115 805,040.00 -8,156,760 9,607 -11,813,522 7,599,816.00 -347,040 4,453,598 50,138 -4,164,630 63,100 -67,856,355 -499,058 5,962,114 2,760,976 1,174,024 -16,150 65,340 780,727.50 -78,882,979 25,300 4,729,264 609,083 -1,209,190 -61,892,436 6,000 1,563,114 5,157,567 -11,800,109 -220,716 130,000 80,850 33,400 -714,550 -287,581 17,080 -3,800,596

HOLDING & FRIMS ABACORE CAPITAL 0.93 0.94 0.97 0.97 0.92 0.93 1,266,000 1,178,630 ASIABEST GROUP 6 7 7 7 7 7 1,100 7,700 AYALA CORP 721 730 735 735 713 730 297,070 214,110,870 ABOITIZ EQUITY 40 40.05 40 40 39.05 40 1,324,100 52,777,660 ALLIANCE GLOBAL 9.74 9.75 9.79 9.79 9.56 9.75 1,569,200 15,235,453 3.82 3.85 3.89 3.9 3.8 3.85 1,777,000 6,791,210 AYALA LAND LOG 6.8 6.9 6.8 6.8 6.8 6.8 100 680 ANSCOR ANGLO PHIL HLDG 0.93 0.94 1 1 0.93 0.93 4,373,000 4,172,320 0.57 0.61 0.61 0.62 0.61 0.61 57,000 34,830 ATN HLDG A COSCO CAPITAL 4.9 4.94 4.95 5.02 4.87 4.94 409,000 2,013,120 DMCI HLDG 6.15 6.23 6.1 6.23 6 6.23 4,070,100 24,862,764 FILINVEST DEV 7.76 7.8 7.8 7.8 7.8 7.8 9,300 72,540 FORUM PACIFIC 0.285 0.31 0.31 0.315 0.285 0.285 880,000 267,350 GT CAPITAL 550 564 560 564 544 564 111,600 61,473,910 57.05 57.5 58.1 58.65 56.55 57.5 3,034,810 174,436,988.50 JG SUMMIT 0.66 0.68 0.71 0.72 0.65 0.68 221,000 146,970 LODESTAR LOPEZ HLDG 3.1 3.11 3.11 3.11 3.1 3.11 1,075,000 3,343,070 9.5 9.58 9.77 9.77 9.31 9.5 19,371,600 183,872,450 LT GROUP 3.57 3.58 3.6 3.62 3.55 3.57 17,415,000 62,386,760 METRO PAC INV PRIME MEDIA 2.55 2.56 2.6 2.74 2.56 2.56 339,000 893,280 SOLID GROUP 1.16 1.22 1.23 1.23 1.21 1.22 81,000 98,630 SM INVESTMENTS 931 954 956 956 920 954 196,010 183,306,320 SAN MIGUEL CORP 109.1 113 109.7 113 108.9 113 170,420 18,879,059 0.68 0.74 0.69 0.69 0.68 0.68 12,000 8,180 SOC RESOURCES TOP FRONTIER 136.5 137 137 137 136.5 137 340 46,508 WELLEX INDUS 0.265 0.285 0.265 0.265 0.265 0.265 20,000 5,300 ZEUS HLDG 0.195 0.199 0.192 0.2 0.192 0.198 530,000 105,320

423,910 -95,463,790 -1,456,810 -4,186,724 -180,950 -477,980 -422,840 13,031,709 -32,526,260 3,406,872.50 -229,960 -104,305,822 -25,227,660 -5,610 -97,174,885 -4,292,098 -99,400

PROPERTY ARTHALAND CORP 0.62 0.63 0.62 0.63 0.62 0.62 201,000 125,290 AYALA LAND 33.85 34.05 33.8 34.05 33.15 34.05 11,649,200 392,947,280 AREIT RT 35.9 35.95 36 36 35.75 35.95 382,900 13,724,000 BELLE CORP 1.38 1.39 1.39 1.39 1.38 1.38 225,000 311,830 A BROWN 0.9 0.91 0.93 0.93 0.9 0.9 561,000 507,440 0.78 0.79 0.8 0.82 0.78 0.79 991,000 784,050 CITYLAND DEVT 0.126 0.132 0.134 0.134 0.127 0.132 630,000 80,720 CROWN EQUITIES CEB LANDMASTERS 2.83 2.85 2.83 2.88 2.82 2.82 991,000 2,816,310 0.435 0.45 0.45 0.45 0.43 0.45 58,230,000 25,104,200 CENTURY PROP 10.3 10.38 10.42 10.5 10.3 10.38 576,500 6,001,690 DOUBLEDRAGON DDMP RT 1.83 1.85 1.85 1.86 1.83 1.85 4,143,000 7,654,400 DM WENCESLAO 6.97 7 7.18 7.18 6.75 7 51,200 360,184 EMPIRE EAST 0.275 0.28 0.28 0.28 0.28 0.28 10,000 2,800 EVER GOTESCO 0.31 0.315 0.345 0.345 0.315 0.315 22,020,000 7,059,900 1.11 1.12 1.12 1.12 1.1 1.11 4,961,000 5,501,180 FILINVEST LAND 0.83 0.84 0.85 0.85 0.83 0.84 479,000 402,940 GLOBAL ESTATE 1.21 1.24 1.26 1.26 1.22 1.22 215,000 263,830 PHIL INFRADEV 3.33 3.4 3.13 3.4 3.13 3.33 63,000 205,410 KEPPEL PROP CITY AND LAND 1.24 1.29 1.36 1.36 1.23 1.24 238,000 308,030 MEGAWORLD 2.89 2.9 2.99 3 2.85 2.89 31,894,000 91,974,600 MRC ALLIED 0.29 0.295 0.315 0.315 0.29 0.29 23,560,000 7,099,200 PHIL ESTATES 0.52 0.53 0.55 0.55 0.51 0.52 4,305,000 2,256,170 PRIMEX CORP 2.2 2.24 2.5 2.5 2.17 2.2 1,591,000 3,686,880 16.02 16.2 16.24 16.24 15.86 16.2 2,068,100 33,290,536 ROBINSONS LAND 0.26 0.265 0.285 0.285 0.26 0.26 5,150,000 1,374,750 PHIL REALTY 1.49 1.55 1.5 1.5 1.5 1.5 26,000 39,000 ROCKWELL 2.6 2.65 2.6 2.6 2.6 2.6 19,000 49,400 SHANG PROP 2.71 2.85 2.82 2.88 2.72 2.85 76,000 213,850 STA LUCIA LAND SM PRIME HLDG 33.1 33.4 33.95 33.95 32.8 33.4 6,731,800 222,962,440 SUNTRUST HOME 1.45 1.5 1.46 1.5 1.45 1.5 260,000 379,830 VISTA LAND 3.41 3.42 3.51 3.51 3.38 3.41 623,000 2,124,220 SERVICES ABS CBN 11.14 11.2 11.2 11.2 11.14 11.14 46,300 517,850 GMA NETWORK 11.88 11.9 11.64 11.88 11.32 11.88 1,817,300 20,941,152 GLOBE TELECOM 1,880 1,881 1,882 1,894 1,875 1,880 36,625 68,926,695 PLDT 1,241 1,242 1,255 1,265 1,241 1,241 94,110 117,099,720 APOLLO GLOBAL 0.117 0.118 0.12 0.121 0.113 0.117 207,810,000 24,258,640 23.1 23.2 23.4 23.4 22.8 23.2 2,312,600 53,365,500 CONVERGE 3.83 3.92 3.92 3.94 3.83 3.92 163,000 628,680 DFNN INC 7.17 7.2 7.56 7.65 7.13 7.17 6,831,000 49,924,666 DITO CME HLDG 2.1 2.18 2.15 2.15 2.15 2.15 5,000 10,750 JACKSTONES NOW CORP 2.11 2.12 2.15 2.18 2.03 2.11 866,000 1,814,950 TRANSPACIFIC BR 0.39 0.395 0.41 0.41 0.395 0.395 2,980,000 1,191,200 PHILWEB 2.2 2.26 2.25 2.29 2.2 2.26 347,000 769,540 2GO GROUP 8.05 8.15 8.02 8.15 8.02 8.15 13,000 105,301 ASIAN TERMINALS 13.9 14 14.3 14.3 13.9 13.9 12,100 170,070 2.68 2.7 2.78 2.78 2.67 2.7 172,000 466,070 CHELSEA 44.8 45.05 45.1 45.1 44.8 44.8 141,600 6,366,425 CEBU AIR 160 162 160.1 162 156.3 162 1,042,300 165,595,308 INTL CONTAINER 16.24 17 17 17 16.24 16.24 1,300 21,188 LBC EXPRESS MACROASIA 4.6 4.61 4.91 4.91 4.6 4.61 2,100,000 9,809,980 METROALLIANCE A 1.86 1.87 1.92 1.92 1.86 1.86 30,000 56,810 METROALLIANCE B 1.95 1.98 1.98 1.98 1.98 1.98 3,000 5,940 HARBOR STAR 1.05 1.09 1.04 1.1 1.04 1.09 88,000 93,190 ACESITE HOTEL 1.8 1.83 1.9 1.97 1.75 1.83 1,475,000 2,777,780 0.1 0.101 0.11 0.11 0.099 0.101 250,880,000 25,566,790 BOULEVARD HLDG 2.42 2.6 2.42 2.6 2.42 2.6 9,000 21,960 DISCOVERY WORLD WATERFRONT 0.54 0.55 0.55 0.55 0.53 0.54 1,444,000 779,040 IPEOPLE 7.06 7.41 7.06 7.42 7.06 7.41 1,400 9,968 0.345 0.35 0.35 0.35 0.345 0.345 760,000 265,750 STI HLDG BERJAYA 5.4 5.47 5.45 5.5 5.45 5.5 5,100 27,800 BLOOMBERRY 5.89 5.98 6 6.01 5.76 5.98 1,851,500 10,847,047 PACIFIC ONLINE 1.98 1.99 1.99 1.99 1.98 1.98 15,000 29,800 LEISURE AND RES 1.49 1.5 1.48 1.49 1.48 1.49 37,000 54,930 1.68 1.73 1.75 1.75 1.65 1.68 1,287,000 2,178,160 PH RESORTS GRP 0.4 0.405 0.4 0.405 0.4 0.405 440,000 176,400 PREMIUM LEISURE 7.51 7.59 7.62 7.62 7.5 7.51 293,000 2,201,479 ALLHOME 1.31 1.32 1.33 1.33 1.31 1.31 287,000 376,680 METRO RETAIL PUREGOLD 40.2 40.25 40.6 40.6 39.65 40.25 2,510,300 100,976,090 ROBINSONS RTL 53 53.5 53.5 53.9 52.55 53.5 514,830 27,488,147 PHIL SEVEN CORP 90.3 91 91 91 90 90 2,790 253,485 SSI GROUP 1.15 1.16 1.18 1.18 1.15 1.16 886,000 1,024,130 WILCON DEPOT 22 22.15 21 22.5 20.85 22 1,797,100 38,940,630 0.335 0.355 0.34 0.355 0.325 0.355 2,290,000 784,250 APC GROUP EASYCALL 5.32 5.5 5.33 5.33 5.33 5.33 2,500 13,325 IPM HLDG 6.3 6.49 6.25 6.25 6.25 6.25 8,000 50,000 PRMIERE HORIZON 1.07 1.08 1.15 1.16 1.04 1.08 14,464,000 15,647,910 4.2 4.49 4.59 4.59 4.59 4.59 2,000 9,180 SBS PHIL CORP

MINING & OIL ATOK 6.91 6.98 7 7.03 6.9 7 43,500 303,304 APEX MINING 1.67 1.68 1.67 1.68 1.62 1.68 2,939,000 4,883,390 ATLAS MINING 6.8 6.86 7.08 7.08 6.7 6.8 1,370,200 9,316,488 ALFM Peso Bond Fund, Inc. -a 372.62 1.46% 3.15% 2.4% 0.42% BENGUET A 4.4 4.64 4.54 4.57 4.4 4.4 732,000 3,288,380 4.3 4.59 4.3 4.55 4.2 4.3 767,000 3,235,600 BENGUET B ATRAM Corporate Bond Fund, Inc. -a 1.9244 -1.08% 1.1% 0.14% 1.27% 0.3 0.305 0.28 0.31 0.28 0.3 570,000 168,450 COAL ASIA HLDG Cocolife Fixed Income Fund, Inc. -a 3.2345 1.2% 3.65% 4.27% 0.62% DIZON MINES 6.12 6.45 6.45 6.45 6.35 6.35 4,700 29,855 2.41 2.43 2.44 2.44 2.38 2.41 1,505,000 3,610,630 FERRONICKEL Ekklesia Mutual Fund Inc. -a 2.2624 -1.79% 2.2% 1.13% -1.46% 0.285 0.29 0.285 0.285 0.285 0.285 370,000 105,450 GEOGRACE LEPANTO A 0.137 0.138 0.138 0.138 0.137 0.138 3,740,000 515,410 First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4441 -0.35% 3.32% 1.68% -0.37% MANILA MINING A 0.01 0.011 0.011 0.011 0.01 0.01 19,400,000 202,400 Philam Bond Fund, Inc. -a 4.4889 -3.73% 4.53% -3.14% 1.07% MANILA MINING B 0.01 0.011 0.011 0.011 0.01 0.011 9,000,000 95,800 MARCVENTURES 1.2 1.23 1.26 1.26 1.2 1.23 114,000 140,930 Philam Managed Income Fund, Inc. -a,6 1.3172 1.08% 4.01% 2.69% -0.3% 1.22 1.24 1.38 1.38 1.22 1.24 407,000 504,380 NIHAO Philequity Peso Bond Fund, Inc. -a 3.9822 0.47% 4.63% 1.75% -0.47% NICKEL ASIA 5.82 5.83 5.89 5.9 5.73 5.83 13,096,200 76,313,398 0.89 0.91 0.9 0.91 0.89 0.91 174,000 156,440 ORNTL PENINSULA Soldivo Bond Fund, Inc. -a 1.0388 0.03% 4.94% 1.52% -0.31% PX MINING 6 6.05 6.15 6.15 6 6 487,500 2,940,994 Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2173 1.31% 5.38% 2.1% 0.35% 16.06 16.08 16.4 16.4 15.98 16.06 780,400 12,526,130 SEMIRARA MINING UNITED PARAGON 0.0087 0.009 0.0089 0.0089 0.0089 0.0089 21,000,000 186,900 Sun Life Prosperity GS Fund, Inc. -a 1.7512 0.3% 4.69% 1.4% -0.22% ACE ENEXOR 16.16 16.9 16.7 16.7 16.1 16.2 50,800 823,390 Primarily invested in foreign currency securities ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 8,100,000 89,100 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 38,800,000 426,800 ALFM Dollar Bond Fund, Inc. -a $486.9 2.19% 3.15% 2.18% 0.63% 7.03 7.07 7.1 7.39 7.05 7.05 177,000 1,262,829 PXP ENERGY ALFM Euro Bond Fund, Inc. -a Є220.3 1.82% 1.08% 0.92% 0.51% PREFFERED ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2007 -3.08% 2.48% 1.32% -6.22% HOUSE PREF B 99.9 100.1 100.1 100.1 100.1 100.1 14,950 1,496,495 First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 - 0.76% 1.72% 0.78% -1.88% ALCO PREF B 101 103.4 101 101 101 101 200,000 20,200,000 CEB PREF 44.9 45.1 45.5 45.5 44.9 44.9 19,800 892,920 PAMI Global Bond Fund, Inc -b $1.0547 -2.71% 0.64% -0.94% -3.48% CPG PREF A 101.1 102.1 102.1 102.1 102.1 102.1 500 51,050 Philam Dollar Bond Fund, Inc. -a $2.5169 1.19% 4.99% 1.89% -0.74% DD PREF 100.7 101 100.9 100.9 100.9 100.9 30,000 3,027,000 105 105.6 105 105 105 105 690 72,450 FGEN PREF G Philequity Dollar Income Fund Inc. -a $0.0630481 3.55% 3.57% 2.12% 1.17% GTCAP PREF B 1,021 1,040 1,020 1,021 1,020 1,021 750 765,500 Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.186 -1.3% 3.37% 0.73% -1.17% PNX PREF 3B 104.1 105.5 106 106 106 106 200 21,200 PNX PREF 4 997 1,002 1,001 1,002 997 997 11,530 11,504,920 Money Market Funds 1,010 1,015 1,013 1,015 1,013 1,015 200 202,980 PCOR PREF 2B Primarily invested in Peso securities PCOR PREF 3A 1,082 1,083 1,083 1,083 1,083 1,083 210 227,430 PCOR PREF 3B 1,105 1,119 1,120 1,120 1,119 1,119 60 67,180 ALFM Money Market Fund, Inc. -a 130.41 1.45% 3.01% 2.53% 0.46% SFI PREF 1.52 2 1.52 1.52 1.52 1.52 1,000 1,520 First Metro Save and Learn Money Market Fund, Inc. -a 1.0538 1.04% n.a. n.a. 0.54% SMC PREF 2C 77.4 77.6 77.6 77.95 77.3 77.6 21,860 1,696,905 76 76.9 76.05 76.05 76.05 76.05 1,860 141,453 SMC PREF 2E Sun Life Prosperity Money Market Fund, Inc. -a 1.3067 1.65% 2.82% 2.55% 0.78% SMC PREF 2H 76 76.9 76.9 76.95 76.9 76.95 129,000 9,926,125 Primarily invested in foreign currency securities SMC PREF 2I 78.1 79 78.1 78.1 78.1 78.1 66,900 5,224,890 SMC PREF 2J 75.7 77 75.7 75.7 75.7 75.7 9,990 756,243 Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.058 1.12% 1.64% n.a. 0.53% SMC PREF 2K 76.5 76.9 76.6 76.9 76.5 76.5 19,500 1,492,111 Feeder Funds PHIL. DEPOSITARY RECEIPTS Primarily invested in Peso securities ABS HLDG PDR 10.5 10.88 10.5 10.5 10.5 10.5 1,700 17,850 Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3298 32.57% n.a. n.a. 17.72% GMA HLDG PDR 10.52 10.9 10.4 10.52 10.22 10.52 108,000 1,113,944 Primarily invested in foreign currency securities WARRANTS LR WARRANT 1.21 1 - - - - - - ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 5.32% n.a. n.a. 1.02%

Bond Funds Primarily invested in Peso securities

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 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 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."

-17,791,280.00 -883,060 -9,100 81,080 738,310 -13,100 -1,133,960 -2,148,070 244,700 -509,390 -72,240 -35,910 49,200 -50,386,780 128,050 37,550 114,150 10,439,604.00 85,500.00 9,000 -39,000 5,600 -83,263,830 -1,183,630 -24,423,040 -22,213,770 647,050 6,392,215 -317,430 -590,747 -24,000 -70,530 79,910 -142,570 -746,195 36,268,453 28,520 -19,300 -263,850 -1 -115,250 -4,096,086 98,700 32,000 1,553,401 62,189,510 -13,892,815 -249,880 211,800.00 11,270,750 774,390 -162,518 -168,000 -157,691 -2,940,000 29,210 153,850 1,986,898 669,753 1,819,484.00 -13,460 -124,332 -288,460 1,009,000 80,000 1,209,008.00 -69,210 -10,500 -522,120 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS KEPWEALTH MERRYMART

16.74 2.03 4.55 3.2

16.98 2.06 4.95 3.21

EXHANGE TRADE FUNDS FIRST METRO ETF

97.8

16.7 2.19 4.51 3.27

16.98 2.19 4.56 3.28

16.7 2.03 4.51 3.19

16.98 2.03 4.55 3.21

37,300 224,000 14,000 3,161,000

630,974 461,570 63,560 10,173,670

50,100 1,017,850

98.65 98.7 97.5 98 32,830 3,217,389 474,530

Envoys&Expats BusinessMirror

www.businessmirror.com.ph

Thursday, July 29, 2021

SFA, Japan envoy exchange notes France fast-tracks rural banks’ digital evolution for MM Subway Project Phase 1 T

ECRETARY of Foreign Affairs Teodoro L. Locsin Jr. and Ambassador Kazuhiko Koshikawa on July 27 signed and exchanged documents formalizing the second tranche of the loan for the Metro Manila Subway Project Phase 1. The Japanese government is extending a loan worth ¥253-billion, or approximately $2.3 billion, through the Japan International Cooperation Agency for the realization of the first subway in the country. The current loan caps over the ¥1-trillion aid package promised by then-prime minister Shinzo Abe to President Duterte during the former’s visit to the Philippines in January 2017. The Metro Manila Subway Project is a flagship project of the Build, Build, Build infrastructure program of the current administration, which aims to revitalize Philippine econo-

my and development by providing a safe, fast and reliable mass transport system. The first phase of the 25.3-kilometer subway connecting the northern and southern portions of Metro Manila will run from Mindanao Avenue in Valenzuela City, through the FTI in Taguig City, and end at the Ninoy Aquino International Airport in Parañaque City, effectively decongesting traffic and connecting major business centers in Metro Manila. “The Metro Manila subway will be a shining monument—better yet, a state-of-the-art working sys-

LOCSIN (left) and Koshikawa DFA-OPCD/PHILIP FERNANDEZ

tem attesting to the deep friendship between the Philippines and Japan” said Locsin. “It is fitting that this signing takes place as we commemorate this year the 65th anniversary of the normalization of our diplomatic relations, and the tenth year of our bilateral strategic partnership.” The signing ceremony was witnessed by representatives from the Department of Finance, Department

of Transportation, as well as the National Economic and Development Authority. Japan is the Philippines’s top overseas development assistance partner, with its long history of support for local development priorities spanning infrastructure, health, human resources, agriculture, education, humanitarian assistance and disaster relief, among many others.

PHL, UN activate joint program on human rights

HE Philippine government and the United Nations have formally launched the UN Joint Program (UNJP): Technical Cooperation and Capacity-building for the Promotion and Protection of Human Rights in the Philippines (2021-2024). Said UNJP document was signed by Secretary of Foreign Affairs Teodoro L. Locsin Jr., Secretary of Justice Menardo I. Guevarra and UN Resident Coordinator in the Philippines Gustavo Gonzalez at the Department of Foreign Affairs headquarters on July 22. Developed following a series of intensive consultations between national government agencies and participating UN organizations, it outlines strategies, targets, indicators and governance mechanisms of the cooperation. As cochair of the UNJP Steering Committee, Guevarra hailed the program as a “historic event, and the first of its kind in the Philippines.” He emphasized that the UNJP is “a manifestation of the sincere and genuine commitment of the…gov-

UNITED Nations Resident Coordinator Gustavo Gonzalez (from left), as well as secretaries Menardo I. Guevarra and Teodoro L. Locsin Jr., sign the UN Joint Program on Human Rights DFA-OPCD/PHILIP FERNANDEZ

ernment to infuse a human rights dimension in its law enforcement and investigative work.” The UNJP implements the Human Rights Council (HRC) 45/33 resolution: “Technical cooperation and capacity-building for the promotion and protection of human rights in the Philippines” co-initiated by the Philippines as well as Iceland, and adopted by consensus on October 7, 2020. It aims to further strengthen national institutions and support the country in its continued fulfillment of international human rights obligations, in a spirit of partnership, trust-building, and constructive engagement.

Indian businesswomen foster Filipino-Indian bonds thru food

SHERING in the year-long celebration of friendship between India and the Philippines, nonprofit organization Indian Women in Enterprise (I-WE) recently launched a virtual food carnival, “Sarap India: A Taste of Togetherness.” The showcase featured Indian cuisine from different regions of the country made with locally available produce. The four-day food carnival gave Filipino families and foodies a chance to immerse themselves further in Indian culture, as they got a taste of Indian delicacies. “Food is the perfect gateway to culture. It offers the first glimpse of the traditions and ceremonies symbolized by special food preparations, and introduces the everyday favorite home dishes across diverse cultures,” I-WE Chair Beena Advani said. “Promoting Indian culinary arts to Filipinos, ‘Sarap India...’ provided a platform for local Indian food businesses to showcase… their delicious offerings, and at the same time, foster cultural awareness of Indian cuisine, [as well as] celebrate the long-standing friendship between India and the Philippines.” “Organizing the online food carnival, within pandemic restrictions in-

place, was an invigorating challenge for the I-WE team and even more so, because many of the vendors were first-time entrepreneurs with limited digital capabilities,” explained Managing Trustee and Project Head Smita Cherian. “Some vendor-partners needed technical and patient support to take pictures of their cuisine, and even create a logo for their home-based [businesses]. This is what made ‘Sarap India…’ a truly I-WE [experience: it fostered] not only enterprise growth, but also professional development of the entrepreneurs.” I-WE is an organization and platform dedicated to women in enterprises in the Philippines empowering their entrepreneurial and professional spirit. In its March 2021 launch, Ambassador Shambhu S. Kumaran said: “The contribution of women entrepreneurs is going to be [crucial], as we build a forwardlooking and dynamic relationship with the Philippines—especially in terms of our business and commercial links… Organizations like I-WE, which combine the efficiency of organizations and economies of working together, have an important role to play in the future.”

Activities under the joint program relate to human rights-based approaches on countering terrorism, strengthening the conduct of investigations and filing of appropriate administrative and/or criminal charges on human-rights violations, provision of treatment and care services for persons who use drugs, and establishment of a national referral pathway to address human rights concerns using appropriate domestic mechanisms, among others. Implementing agencies of the UNJP are the Presidential Human Rights Committee Secretariat (PHRCS), Department of Justice,

Department of the Interior and Local Government, Philippine National Police, Dangerous Drugs Board, Department of Health, Anti-Terrorism Council-Program Management Center, as well as the Bureau of Jail Management and Penology. Participating organizations are the UN Office of the High Commissioner for Human Rights, the UN Educational, Scientific and Cultural Organization or UNESCO, the UN Office on Counter-Terrorism, and the UN Office on Drugs and Crime. The UNJP also closely engages the Commission on Human Rights (CHR) and civil-society partners for an inclusive process. Chairperson Jose Luis Martin Gascon of the CHR, Deputy Chief of Mission Richard Sisson of the Embassy of Australia, Chargé d’Affaires Rafael de Bustamante Tello of the Delegation of the European Union to the Philippines, and Undersecretary Severo Catura of the PHRCS witnessed the signing ceremony.

Webinar to weigh in on EU-Asean collaboration

HE European Union Delegation to the Philippines will be convening the virtual forum: “What the Strategic Partnership Means for the EU and Asean Relations” on August 12, from 9:30 a.m. to 11:30 a.m. via Zoom. Mutual bonds of both regions have flourished throughout the years in the areas of politicalsecurity, economic, and peopleto-people exchanges. Relations heightened into a strategic partnership in December 2020, reflective of the strengthening ties grounded on shared values of effective multilateralism and rules-based international order. The EU is the Asean’s top development partner, as well as thirdbiggest trade partner and investor. Exports to the latter’s membercountries grew from €54 billion in 2010 to €85 billion in 2019, while imports hiked from €72 billion to €125 billion. “[The] EU is committed to be a political and security actor in the region—not just as a development cooperation, trading or investment partner,” Ambassador Luc Véron

said. “[We look] forward to collaborating with Asean, particularly in the areas of green transition, defense and sustainable connectivity.” As the Philippines takes over the role of Asean Coordinator for Dialogue Relations with the EU for a period of three years from August 2021, the webinar will pave the way for a new level of relations between both blocs. The webinar also coincides with the celebration of Asean Day. Invited to the webinar are Foreign Affairs Undersecretary Ma. Theresa Lazaro, EU Ambassador to Asean Igor Driesmans, Asean Director-General for Singapore Mark Neo and former foreign affairs secretary Delia DomingoAlbert. Véron will provide the welcome remarks. The event is open to the diplomatic community, Philippine government agencies, think-tanks, academe—including students, media, and the business community. Interested participants can register via https://forms.gle/ejRRcmfgpi9BeALa7.

HE Rural Bankers Association of the Philippines (RBAP) and the French Development Agency (AFD) have signed a Grant Facility Agreement of €800,000, or around P47.9 million, to support the digital transformation of inclusive financial institutions, starting with rural banks. As a perspective, banks in the Philippine countryside have played significant roles in promoting inclusivity in markets underserved by their traditional commercial counterparts in the past 80 years. To remain competitive, they must modernize and adapt from manual into digitized processes for increased efficiency, reduced costs, and improved services for their markets. With this in mind, the grant will finance technical assistance covering training, capacity building, as well as communication and awareness-raising activities supportive of the digital transition of core-banking systems to the cloud, with a view to further develop financial inclusion of underserved and unbanked populations in the country. Such is provided within the framework of the global publicpolicy reform of the financial-inclusion sector in the Philippines, and the implementation of the Inclusive Finance Development Program (IFDP). The AFD, alongside the Asian Development Bank (ADB), has been supporting this program since 2019 through a €100-million sovereign loan to the government of the Philippines. The IFDP contributes to the overall objective of inclusive growth and sustainable development of the Philippines by supporting the development of financial inclusion of its citizenry—particularly, the poor and the rural population—through the consolidation of the institutional and regulatory environment and the improvement of financial infrastructures, as well as the

capacity building of financial services providers, supervisors, and regulators. “RBAP is thankful for the support and trust that AFD has given to our association,” expressed Elizabeth Carlos-Timbol, RBAP president. “Through this partnership, this goal is finally realized. We look forward to working with AFD to create capacity-building programs tailor-fit to the needs of the rural banks for us to be able to compete at par...with other financial institutions in the country.” Dur ing t he occasion, A FD Country Director in the Philippines Laurent Klein said, “The AFD is very pleased with the partnership concluded today with the RBAP. With a wide range and diversity in size and activity levels, rural banks remain in a unique position to extend the reach of financial services in rural areas.” Klein added, “In line with our organization’s strategic objectives to support financial systems and fight social and economic inequalities, this technical assistance will…promote access to quality digital financial services for all—including the most vulnerable part[s] of the population. This agreement also marks a major step forward in our collaboration with the ADB to support inclusive finance in the Philippines.” Ambassador Michèle Boccoz emphasized, “France is proud to support, through the AFD, strategic reforms of the [Philippine government] in digital transformation and inclusion in the financial sector for the benefit of [Filipinos]. This is a further milestone in the bilateral relationship between our two countries.” Boccoz furthered: “The...pandemic is disrupting our societies, and leads us to consider radical shifts in our usual modes of economic and social interactions. We believe…this program, through the AFD and RBAP…will help pave the way to resilience and recovery—especially of disadvantaged Filipinos in...rural areas.”

FFCCCII backs govt vax incentives, ramps up inoculation activities

HE Federation of Filipino Chinese Chambers of Commerce & Industry Inc. (FFCCCII) has expressed its support to the proposal of a presidential adviser to consider giving incentives to businesses and persons who have already been vaccinated. This, as Presidential Adviser for Entrepreneurship Jose Ma. “Joey” Concepcion III, likewise asked the current administration to impose restrictions for individuals who have yet to be vaccinated against the coronavirus disease 2019. Said proposals, according to FFCCCII, aim to counter the spread of the contagious Delta variant of the virus. They quoted Concepcion in saying the government considers applying “ bold moves,” such as restricting the entrance of unvaccinated Filipinos in certain establishments, or moving around the country. Other recommendations of Concepcion, which FFCCCII also support, include granting incentives to businesses that target full vaccination of their employees. “Fully vaccinated individuals can also be given incentives, such as more mobility, ease of travel, and [exemption] from mandatory tests,” stated Dr. Henry Lim Bon Liong, FFCCCII’s president. The organization also recently undertook the Philippines’s first private-sector importation and roll-out of vaccines, with half-a-

FEDERATION president Dr. Henry Lim Bon Liong EDWIN TUYAY

million Sinovac doses. Its nationwide jabbing project is now ongoing for economic frontliners comprising entrepreneurs, employees and workers. Target completion is at the end of August. “At zero cost to the government, this civic project to vaccinate economic frontliners [seeks to help lessen the burden of government, which is our aid] to the national goal of inoculating 70 million Filipinos, or 100 percent of the country’s adult population by the end of the year,” the federation’s executive said. “Let us support the mass vaccination program for faster public health, consumer confidence and economic recovery of the Philippines this year.” Recto L. Mercene

Agriculture/Commodities

A4 B4 Thursday, July 29, 2021 • Editor: Jennifer A. Ng

BusinessMirror

www.businessmirror.com.ph

By Jasper Emmanuel Y. Arcalas @jearcalas

HE commercial propagation of Golden Rice in the Philippines is a huge boost to the country’s efforts to eradicate hunger and malnutrition and achieve food security by 2030, according to a Global Agricultural Information Network (Gain) report. The Gain report noted that the Philippines became the first country in the world to approve Golden Rice for commercial propagation last July 21. This means that Filipino farmers may now plant and sell the vitamin A-rich rice variety. “In so doing, the Philippines has again demonstrated its commitment to embracing scientific innovation as a tool to advance Sustainable Development Goal number 2,” according to the Gain report, which was published recently. The Gain report was prepared by the United States Department of Agriculture Foreign Agricultural Service in Manila. “This decision follows a multiagency review confirming Golden Rice is as safe as conventional rice,” it added. The Gain report said with the

biofortification of vitamin A in the country’s staple, “the Philippines will be better positioned to meet Sustainable Development Goal [SDG] number 2.” Under SDG 2, countries commit to end hunger, achieve food security and improved nutrition, and promote sustainable agriculture by 2030. In particular, the report said Golden Rice would contribute to efforts to meet targets SDG 2.1 (ending hunger and ensuring accessibility of people to safe, nutritious and sufficient food all year round) and 2.2 (ending all forms of malnutrition). The Gain report noted that the Philippines is a “major rice consumer with a population of roughly 110 million and annual per capita rice consumption of 133 kilogram.” Citing data from the Philippine Rice Research Institute (PhilRice), the Gain report noted that only 2 out of 10 Filipino households meet the estimated average requirement for vitamin A in their daily diet. “While beta carotene is naturally available in fruits, vegetables, and whole grains, it is not present in milled rice,” it said.

BUSINESSMIRROR FILE PHOTO

‘Golden Rice will help PHL fight malnutrition’

PhilRice, an attached agency of the DA and a proponent of the Golden Rice project, said the genetically modified organism (GMO) followed the standard process of rice breeding that usually takes 10 to 12 years before a new variety reaches consumers. Proponents will now seek varietal

registration from the National Seed Industry Council to ensure that varieties are based on “consistent good agronomic field performance,” according to PhilRice. “As always, we are committed to ensuring the highest quality of seed for farmers and a safe and nutritious food supply for all Filipinos,” PhilRice

Executive Director John C. de Leon said in a recent statement. “[We] will be implementing a comprehensive quality assurance and stewardship program that covers all steps in the chain from seed production, to post-harvest processing, to marketing.” Greenpeace Philippines earlier

denounced the government’s approval of the commercial propagation of Golden Rice, saying that the GMO would make it more difficult for farmers to recover from the adverse impact of the pandemic. The nongovernment organization called on Agriculture Secretary William D. Dar to reverse the Bureau of Plant Industry’s (BPI) decision to approve the commercial propagation of Golden Rice. “The continued approval of genetically modified ‘GM’ crops including so-called ‘Golden Rice’ will further drag down farmers amid climate and Covid struggles,” said Wilhelmina Pelegrina, senior campaigner for Greenpeace Southeast Asia. “The DA needs to ensure that farmers are central in a green and just recovery from the pandemic, and are supported by resilient food and farm systems in the face of the climate emergency. Instead of relying on GM crops such as GR that have no proven benefits to farmers and consumers, the DA should promote ecological agriculture that works with and for farmers, and which offers Filipinos diverse grains, fruits, and vegetables for diverse diets, ensuring food and nutrition security.”

Bayer urges Payatas residents to grow vegetables NIA unveils solar-powered pump

AY ER is setting up an 800-square-meter urban farm in Payatas, Quezon City, in its bid to promote vegetable consumption and boost food security. The Bayer Kubo project is in partnership with Rise Against Hunger Philippines, AGREA Foundation, and Puso ng Ama Foundation, a grassroots-based organization that extends social aid to impoverished communities. For the intended farm area, there have been efforts from residents to grow vegetables there. However, it remains underdeveloped as they lack the knowledge and experience to get good yields and sustain production. “We’ve started engaging with volunteer community members in Payatas whom we intend to train on ideal farming practices,” said Bryan

Rivera, head of communications and public affairs for Bayer Philippines. “Beyond growing food, the training will also include financial literacy and basic business skills to help them sustain the farm long term.” In its global sustainability targets, Bayer has a goal of reaching out to 100 million smallholder farmers to support their livelihood by 2030. While urban farming is a small fraction from this aspiration, the Bayer Kubo project in Payatas will be Bayer’s third urban farm and it expects to develop more urban communities into food and income-generating venues. Bayer’s other projects are in Taguig City and Calauan, Laguna. To be grown in Payatas are “pinakbet” vegetables, including ampalaya, eggplant, okra, squash, and sitao (string beans). The popu-

lar dish, originated in Ilocos region, is nutrient-dense with its variety of healthy ingredients. Bayer reinforced its commitment to increasing fruit and vegetable consumption in a recent announcement of new portfolio innovations and a business strategy for horticulture. The strategy focuses on activities that deliver tailored solutions to the farm, advance sustainable innovations on the farm and address value chain and consumer needs beyond the farm. “Only a fraction of the global population comes close to consuming the daily recommended serving of fruits and vegetables,” said Inci Dannenberg, head of global vegetable seeds at Bayer. “In the UN’s International Year of Fruits and Vegetables, Bayer is doubling down on its approach to

enabling growers and partners to address the barriers to improving fruit and vegetable consumption in order to achieve Health for All, Hunger for None.” The horticulture strategy is underpinned by Bayer’s leading genetics, crop protection and digital capabilities, which provide growers with the tools they need for smarter, on-farm decision making, and consumers with the quality and nutrition they need to promote a healthy lifestyle. Most recently, the company announced its membership in the Sustainability Initiative for Fruits and Vegetables (SIFAV), alongside other produce industry leaders. SIFAV is a cross-industry platform dedicated to scaling up collaboration and reducing the environmental footprint of fresh food.

DOST promotes community vegetable farming in Rizal

HE Department of Science and Technology (DOST) in Calabarzon turned over farm tools, equipment and vegetable seeds to the Angono New Normal Farmers Association (ANNFA) last July 20. The DOST regional office in Calabarzon also reached out to various artist groups in Angono, Rizal to collaborate with them on science and technology (S&T) projects. The back-to-back activity showcased the “Ceremonial Turnover of Farm Tools, Equipment, and Vegetable Seeds to the Angono New Normal Farmers Association” and the “Fusion of S&T and Arts in Angono.” The first part of the program was mainly attended by 26 ANNFA members and graced by DOST key officials, namely, Secretary Fortunato T. de la Peña; Dr. Juanito Bata-

lon, Director of DOST-PCAARRDARMRD; Director Celia Elumba of DOST-PTRI; Director Marieta Bañez Sumagaysay of DOST-NRCP; Director Richard P. Burgos of DOST-STII; Director Lita Suerte-Felipe of DOSTDLLO; and Provincial Director Fernando E. Ablaza of DOST-Rizal. Batalon discussed the GALINGPCAARRD Kontra COVID-19 Program comprising one of its livelihood projects called “Gulayan sa Pamayanan’’ which is aligned with ANNFA’s goal to increase productivity and efficiency in vegetable production. Under this program, DOSTRizal led by Ablaza, implemented the DOST-PCAARRD-funded project titled, “Employing Hydroponics and Community Vegetable Gardening Technologies to alleviate COVID-19 Threats to Food Security in Selected Municipalities in Re-

gion IV-A.” This aims to promote community vegetable farming and contribute to the national call for initiatives toward food security and pandemic resilience. Meanwhile, de la Peña also extended his support by hoping for ANNFA’s continuous success in their farming ventures. Aside from the provision of trainings to further promote sustainable vegetable production and enhance their marketability, DOST-Rizal, in coordination with the local government of Angono, also plans to establish a Weekend Fresh Market for ANNFA’s harvests. The afternoon session of the program involved a series of museum visits assisted by the local government of Angono led by its Mayor Jeri Mae E. Calderon. De la Peña and guests met with Angono artists in

Botong Francisco Ancestral House and Blanco Family Art Museum. Dubbed as the “Art Capital of the Philippines,” Angono shelters some of the country’s finest arts and artistry. Hence, through a meeting with representatives from the local government unit and various artists groups in Angono, DOST seized the opportunity to discuss points of collaboration for the fusion of S&T and the Arts. Representatives from the Angono Ateliers Association, Angono Artists Association, Lambana Angono, ANGKLA, Grupo Sabado Agency, and Neo Angono also attended the event. With this initiative and through the collaboration with other DOST agencies, DOST-Calabarzon hopes to cater the arts sector by developing new S&T projects that will boost their industry in the country.

irrigation projects in Nueva Ecija

HE National Irrigation Administration (NIA) said it inaugurated the San Isidro and Peñaranda Solar-Powered Pump Projects of the NIA Upper Pampanga River Integrated Irrigation Systems (UPRIIS) Division IV in Nueva Ecija last July 27. NIA Administrator Ricardo R. Visaya, Deputy Administrator Romeo G. Gan, UPRIIS Department Manager Rosalinda B. Bote and Division IV Manager Wilfredo A. Balauro led the ceremonies in three solar-powered pump sites. The event involved the unveiling of the building marker, ribbon cutting, ceremonial blessing of the solar powered pumps, ceremonial test run of the pumps, and a program wherein Visaya was the Guest of Honor and Speaker. Following immediately the program was a media briefing and awarding of plaque of appreciation by the Contractor Equator Energy Corp. by Col. Bernardo F. Fabula. Joining also the celebration were the Division Managers and key staff from NIA Central Office and UPRIIS, Irrigators Associations (IA) Presidents Dante Lazatin (UCFIA President), Jaime Reyes of Peñaranda IA and Ricardo Pelayo of Malimba Bantog Manggahan IA, other local government unit (LGU) representatives, military and police chiefs and their men, partner stakeholders and some media personnel. During the program proper, Reyes led the acceptance of the newly inaugurated Peñaranda solar-powered irrigation pump project and extended his gratitude to the NIA and UPRIIS officials for being one of the two IAbeneficiaries of these solar projects. Bote said during her project overview that the installation of solar-powered pumps is part of the agency’s thrust to foster proficiency

and resiliency for proficient irrigation service through innovations and modernizations as directed by the NIA Administrator. She added, “The use of innovative solar pumps helps reduce cost inputs in farms as it implores cost effective alternative power source. It therefore promotes poverty allevation and income increase among our partner IAs.” The Peñaranda Solar Powered Pump Irrigation Project, whose main water source comes from the Peñaranda Dam through PENRIS Main Canal, is a P20.461-million project that is expected to provide reliable and proficient irrigation water supply in its 228.878-hectare service area located in Barangays Poblacion I, Poblacion II, Santo Tomas in Peñaranda, and Pambuan, Gapan City, benefiting a total of 114 farmermembers of Peñaranda IA. The San Isidro Solar Powered Pump Project is in Brgy. Pulo, San Isidro, Nueva Ecija. With a total project cost of P17,780.519.47, this project will benefit 159 farmer-beneficiaries and their families in 323.2762-hectare agricultural lands, covering the Barangays Pulo and Mangga in San Isidro, Nueva Ecija. Its main water source is from Malimba Creek. Visaya said during his speech that the construction of these solar projects is part of his “four-point agenda” particularly in instituting measures to improve the delivery of services. “Modernizing the existing use of diesel-powered pumps or generators into solar-powered pumps will significantly benefit the farmers in the long-run because aside from its cost effectiveness and efficiency, these projects ensure year-round irrigation supply that may result to an increase in farm produce allowing third cropping season,” he said.

US copper buyers face world’s highest prices as demand booms

NITED States copper buyers are paying the world’s highest prices for the metal as soaring demand and logistical bottlenecks send New York futures surging ahead of contracts in London and Shanghai. Copper futures for September delivery on the Comex have been trading at a premium to those for December since Friday in a condition called backwardation that suggests tight near-term supplies and rising demand. It’s the only main exchange where the metal is trading in back-

wardation right now, and inventories at warehouses tracked by the bourse have been declining since early April. As a result, a New York trader was paying over $250 a metric ton more for Comex copper than the metal traded on the London Metal Exchange on Tuesday, the widest since 2011. The New York price is also higher than in China, excluding a value-added tax on Shanghai purchases. The premium underscores investor assessments of diverging outlooks for the regions. Commodities

from copper to steel have posted big gains this year, partly on bets that massive US government spending to rebuild infrastructure will boost demand. Pandemic-triggered supply-chain woes have also helped lift prices. Meanwhile, Europe has been slower to recover from the pandemic, while concerns over China’s efforts to rein in inflation have clouded prospects for commodity gains there. “At the root of it all is the friction in global trade, but it’s also a reflection of the fact that demand

is strong. It genuinely looks like a tight market,” said Oliver Nugent, an analyst at Citigroup Inc. “If you look outside of the LME, and you look at the US and even at China, you can see that they’re moving in the right direction.” The tightness in the US market is in contrast with the situation on the London Metal Exchange. LME copper cash contracts are trading at a discount to futures contracts, while stocks tracked by LME warehouses have been on the rise since the beginning of June. Bloomberg News

Parentlife BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Thursday, July 29, 2021

Now is the best time to teach kids entrepreneurship New ‘J-ollympics’ Kiddie Meal toys let kids play fun sports AS the Olympic Games unfolds in Tokyo, Japan, Jollibee brings the joy of fun sports to kids as it launches its newest Jolly Kiddie Meal set of collectible toys—the J-ollympics. The set consists of seven sports-themed toys starring Jollibee, and this time Champ also joins in the fun. This new Jolly Kiddie Meal toy collection inspires kids to have fun at home as they see Jollibee and Champ engaged in various athletic activities. Kids can help Jollibee speed up his Rowing boat as they move him forward and watch his oar in action. They can also enjoy a game of basketball, as they press the button on Jollibee’s back and have him dribble the ball. Kids can get Jollibee to do some smashes as they press the button on his back and watch his badminton racket swing in full force. Jollibee plays golf, too—just pan the lever on his back to make him do some putting action. They can also help him score some goals as they push the button on his back to kick a soccer ball. Jolly kids can also try out some cycling action by moving Jollibee back and forth. Last, as Champ makes a special comeback in this Jolly Kiddie Meal collection, kids can help him practice his boxing skills as they move the lever on his back to make him throw some punches left and right. The Jolly Kiddie Meal J-ollympics collection will be available until October 31. Each toy comes with its own Jolly Joy Box.

Y husband and I have become a repeat customer of a 10-year-old girl named Aleeza. We love buying her regular and purple yam pastillas for ourselves, as well as give them out as a nice surprise to friends, like my kids’ coaches. I was inspired by how Aleeza decided to start her business this pandemic; and thought it would be a great “kidspiration” idea for other children during this prolonged period at home. Aleeza is naturally curious and inquisitive. She often asks her parents about things she has read, seen and heard. According to her dad, “Liz [Aleeza’s Mom] and I often discuss our businesses and work. Aleeza hears our conversations, so I guess she has an idea of what being in business is. Also, I think a big factor in her being entrepreneurial is that Liz teaches her to be responsible and to be a hard worker. She explains where our money comes from, how to spend it properly, and how to save it.” Aleeza has had an early exposure to business because even as a baby, Liz brought her to their retail store. Liz continues to be in the textile business, where she herself had an early start. As Aleeza grew older, she was taught how to help in the store. She bags the sold fabric and greets the clients coming in. And when she was around six years old, she was already involved in picking the design of the fabric from the supplier. Aleeza’s pastillas business is called Pastillas & Co., which started because of her love for sweets. As her dad shared, “We ordered some pastillas for the house, but she ate most of it. We ordered again and she ate most of it again. So, Liz said out loud, ‘Gumawa ka na lang kaya ng sarili mo?’ And so, she did. Liz offers her guidance and advice on how to operate her business.... We fully support her endeavor that she started last May in the middle of a pandemic as it gives her an outlet for her energy and not only stare at her iPad all day. She also can’t go out to do sports or outdoor activities.” Aleeza is happy when she hears positive feedback from her customers. She is also happy during the process of making it, as she gets to taste her goodies herself. She is most happy when she counts the money she has made from all her hard work. When asked about the challenges that Aleeza faces in this endeavor, her parents said, “Challenging moments are only encountered at the start. She [Aleeza] of course doesn’t know how to operate and conduct a business. She learns what needs to be done and then does it on her own. Learning never stops as she and

Liz continue to find ways to streamline processes and increase yield while exerting the same or less effort. This business is one way for her to learn patience, perseverance and discipline.” Personally, I believe teaching entrepreneurship early to our kids is good because it opens our kids to be passionate about something. It leads them to work toward their interests with the effort they want to put in. I say this because being an entrepreneur is not easy. When my parents were starting a business, I saw multiple challenges and saw how they tread on. My kids also had an early exposure to my work. Maybe this is why one of Meagan’s dreams since she was nine is to become an entrepreneur. Many would say it is my being I am an entrepreneur that’s spurred my daughter to want to become one as well, but I don’t think this is the case. There are many business owners whose kids choose not to be one. In the same manner, there are many kids of employees who choose a more entrepreneurial route after university. At the end of the day, kids grow their dreams based on who they are and what they see. Any skill learned is a skill that helps their future. My son at this point

sees himself pursuing a career in sports, but I still expose him to the same entrepreneurial opportunities I do for my daughter. I do this through play and our travels. I like to tell them stories on how certain businesses operate, how successful businesses were built, and how their interests can be future businesses as well. Why? Because entrepreneurship involves building. The passion, hard work, trial-and-error and creative solutions one can develop while being exposed to entrepreneurial work are great advantages. These skills are beneficial and foundational regardless of their chosen profession in the future. I was exposed to entrepreneurial skills early, and I took them on not because I always wanted to be in business. I went through also wanting different dreams at different points in my life (from wanting to be a painter, a human-rights lawyer, a politician, a business consultant, or the owner of an advertising agency), but what I am truly grateful for is that all the entrepreneurial skills I learned early on equipped me well enough to actually pursue any dream I wanted to and more. Let’s expose our kids to entrepreneurship today. n

Foggy-brained from the pandemic? Six ways to stay mentally sharp About 25 percent of Covid-19 survivors experience what’s called “brain fog,” a general term to describe feelings of being mentally sluggish, confused, and pretty much “out of it,” a study by the US National Center for Biotechnology Information (NCBI) reported. These symptoms, which can last for months after a patient has recovered from the novel coronavirus, can also be accompanied by headaches, poor memory and impaired sustained attention or inability to concentrate. Yet struggling to focus is not only for those who have had the life-threatening disease. With a pandemic that has still no end in sight, the world has had to live with long-term, low-grade stress, anxiety and uncertainty—factors that tend to make the mind wander off, daydream and zone out completely. “It’s normal,” assures Donnabelle Chu, MD of the Section of Neurology of top hospital Makati Medical Center (MakatiMed, www.makatimed.net.ph). “Consider it your brain’s way of coping with the stress and fear of circumstances that are beyond your control, like the current pandemic.” There’s even a scientific basis for it. “The brain’s prefrontal cortex, which processes our critical thinking and ability to focus, shuts down during a sudden, highly stressful situation—say, a potential road accident involving you and another driver,” explains Chu. “It then gives way to that primitive part of the brain to respond quickly and protect you from danger.” The pandemic, while life-threatening, is also ongoing and does not require a quick response. This affects our ability to focus and concentrate. Chu continues: “Stress hormones like cortisol and adrenaline, which the body releases during

particularly tense moments, can also overwhelm and exhaust the brain if they stay too long in the system or come in excessive amounts.” The good news: Mental fogginess is temporary. Given the brain’s malleability—that is, its capacity to adapt to changes and new ways of thinking—you can regain your focus and concentration in no time. Here are six ways to do it: n PRACTICE MINDFULNESS. When you sense your thoughts trailing off, get them back on track by gently reminding yourself where you are at that very moment. “Thinking too far ahead of scenarios that

may or may not happen is not only unproductive, it is mentally and emotionally exhausting,” says Chu. “Best to concentrate on what you can do in the here and now.” Instead of multitasking, make a to-do list and check each entry as you accomplish them. This allows you to focus solely on the task at hand, rather than on a bunch of things that can overwhelm you. Listening to music also helps to relax your brain. n TRAIN YOUR BRAIN. Crossword puzzles, chess, sudoku, solitaire and other mind games that require you to think can sharpen your focus, the doctor says. “Spend at least 15 minutes playing any of these brain

training games five days a week as they may enhance your working and short-term memory, as well as your processing and problem-solving skills,” she explains. These games are especially helpful for older adults, who may experience more memory and concentration problems that come with advanced age. n EXERCISE. If mental exercises jog the brain, physical exercises like going for a walk or run, dancing, or doing yoga also offer multiple benefits to the brain. “Exercise promotes good circulation, is a great stress buster, and improves the quality of your sleep—all of which contribute to better thinking and concentration,” says Chu. n HEALTHY DIET. A healthy diet has been proven to improve your brain health. Diet such as those rich in fruits and vegetables, nuts, beans, Omega 3, and whole grains can be beneficial to the brain’s ability to function well. Avoiding excessive alcohol intake also gives the brain a chance to heal and function properly. n ELIMINATE DISTRACTIONS. Who has not zoned out from scrolling through their social-media feeds? “If you must, check your Facebook or other social-media accounts at specific times of the day only—like during your lunch break, or after you finish work,” she says. If you work from home, clear your desk of clutter and lower the volume of any music or movie streaming on the side, or shut it off completely. n REST. Sometimes, a little time out can do wonders for your well-being. “Go for a walk. Take the entire day off. Give yourself enough time to sleep, as it has been shown that the brain clears and eliminates toxins that affect our cognition when we sleep,” says Chu. “Don’t be so hard on yourself. These are challenging times and we’re all learning to cope in the best way we can.”

Clockwise: Mommy Liz and Aleeza baking pastillas; Aleeza’s products ready for delivery; Aleeza computing her sales and expenses; my kids at a guided walking tour of Wall Street, New York City, to understand the stock market; Meagan’s 9-year-old dream box to be an entrepreneur; my kids’ own businessat-play set up of operating an airline

B6 Thursday, July 29, 2021

#AmbagKo urges more youth to register and vote for the 2022 National Elections

HE Junior Chamber International (JCI) Philippines, the first nationally organized leadership development organization established in Asia, continues to urge more youth to register to vote with only more than two months left before the last day of registration. This is even after the Commission on Elections (Comelec) reached its goal of 4 million new applications. As of June 2021, Comelec has recorded 4.8 million applications – 4.3 million new registrants and 500,000 reactivated voters. “The news about Comelec surpassing its goal of 4 million registrants is a welcome one. But that doesn’t mean that the success of the upcoming elections is assured. The number of registered voters doesn’t always mean high voter turnout, so we still have a lot of work to

do, and right now the key is to encourage more people to go out and register.” This is according to Fulbert Woo, 2009 JCI Philippines National President and Ambag Ko Project Head. Efforts to bring the registration closer to eligible voters are ongoing such as additional satellite registration sites in rural areas and partnerships with private companies to mount more sites in malls. This is helpful for senior citizens and others who wish to register or reactivate their records but are wary of going out and is especially urgent for the reported 7 million voter profiles deactivated, with only 700,000 individuals reactivating their records at the Comelec so far. JCI Philippines likens registering to vote to mounting community pantries that sprouted all over the country around May. These community pantries were

instigated by ‘regular’ Filipinos and has started a domino effect of doing good. “It takes initiative, perseverance and patience to go out — in the heat and even the threat of a virus — and do something that benefits the people and your country.” This according to the 2021 JCI Philippines National President Jude Acidre. Voter registration for the May 2022 elections will run until September 30, 2021. Eligible voters may register from Tuesday to Saturdays, 8AM to 3PM in COMELEC offices. The public can accomplish their application form and set an appointment online through the COMELEC website or go to the nearest Comelec registration site. To learn more about the #AmbagKo Rehistro. Boto. campaign, visit ambagko. ph and follow its pages on Facebook, Twitter and Instagram.

Gender-free intimates set to break standards for retail fashion

CCORDING to an international study in 2015 by the United Nations for LGBT Equality, 10% of the world’s population identify as part of the LGBTQ+ community. This encompasses the full spectrum of the community including non-binary individuals who do not fall into the traditional binary masculine and feminine standards. However, the diversity of the community is yet to be fully reflected by the garments industry. Gender-neutral options are still sparse among fashion retailers, an industry that’s still mainly classified into the binary masculine and feminine standards. This becomes even more challenging when shopping for intimate apparel, as there is still limited availability of gender-neutral underwear despite the rising preference of consumers towards genderless pieces. In this year alone, searches for gender-neutral apparel have risen by as much as 33%. This trend will likely continue as more than two-thirds of young consumers agree that gender roles and labels are outdated. Now the fashion industry is beginning to thread the needle and follow the trend through the introduction of gender-neutral options in the market, providing more versatility in what everyone can wear on a daily basis or in

their level of comfortability. Discussions regarding gender identity have been a sensitive topic for some. However, acknowledging everyone’s experiences has been a great step towards inclusivity and social change, and that is what Avon has consistently stood for in 135 years. “If we can stretch our support in terms of sizes, breast shapes, and life stages, what’s stopping us from stretching support to be inclusive of gender identity?” says Avon Marketing Director, Anna Garces. “Avon has been producing high-quality, innovative, and affordable creations for Filipinos and Filipinas for decades. It’s only right to expand our years of expertise on intimates to support the needs of all gender identities and sexual orientations.” And that is why in the Philippines, Avon launches the first gender-free intimate apparel line that celebrates every body, every gender, and every personality. The Avon Limitless collection is designed with breathable, quick-dry materials and a universal fit so everyone can be who they are. “We want the members of the LGBTQIA+ community to feel seen, supported and celebrated through the NEW Limitless Collection and know that they too are limitless, hence the name.”

continues Garces. “We believe that every kind of body deserves support that lets them be themselves, each given the chance to afford truly supportive and comfortable underwear.” The Limitless collection provides gender-neutral silhouettes that can literally be worn by everyone with breathable fabric that gives a soft 4-way stretch in every wear. The Andy 2-in-1 Ultra-stretch boxers come in black and gray variants, designed with a double layer panel on the crotch area so it can fit anyone with or without an appendage. On the other hand, the Andy Ultra-stretch Support Top can be used as a minimizer, a moulded bra, or even just a casual top with removable moulded cups and expandable hook and eye, so anyone can sport it with or without busts. The Limitless collection can be purchased online at avonshop.ph or through Avon representatives. In their continuous advocacy to support inclusivity and equality for all, Avon extends the celebration of Pride beyond June. Now everyone can come as they are and feel comfortable regardless of wherever they are in the spectrum. Visit www.avon.ph or like and check out Avon Philippines on Facebook to find out how you can shop your favorite Avon products.

A TASTE OF SANDARI: THE WEDDING FEAST RETURNS. Save the date! On August 28, A Taste of Sandari returns with a bigger and better bridal event. For this year, Club Ananda Event Place has teamed up with Juan Carlo The Caterer, and Kim Torres Events as co-presentors and will be featuring renowned stylists, top suppliers and more. Additional details will be revealed soon. So, mark your calendar now. For inquiries, please contact Club Ananda’s official accounts on Facebook and Instagram.

Watsons Philippines is 2021 Retail Asia’s Health and Beauty Retailer of the Year

ATSONS was recently named Retail Asia’s Health and Beauty Retailer of the Year–Philippines at the recently concluded virtual 16th Retail Asia Awards 2021. The one-stop source for retail intelligence for Asia, Retail Asia gathers and recognizes the region’s most outstanding retail initiatives in its annual prestigious and exciting awards event. During the same ceremony, Watsons won the Marketing Initiative of the Year award for its “Stay Strong and Beautiful” campaign. Featuring 300 influencers using the hash tag #staystrongstaybeautiful and to date, the campaign has already reached over 31 million unique users from Facebook, Instagram and Google. Watsons e-catalogue, which offers various promos, has also reached 18.7 million users. The year 2020 was a challenging year for everyone due to the COVID-19 pandemic and the imposed mobility restrictions. Customers had a shift in their mindset and started to prioritize their family’s health and safety at all times. Watsons, through their campaign, responded to this shift by highlighting the importance of both health and beauty in navigating difficult challenges. They also provided alternative shopping experiences to

WATSONS Philippines won the Health & Beauty Retailer of the Year – Philippines at the prestigious Retail Asia Awards 2021. ease the worries of their customers through watsons.com.ph and call the delivery service which covers around 100 store hubs servicing nearby areas. Since the start of the pandemic, Watsons started to highlight the importance of health and wellness by promoting products like vitamins, supplements, hygiene and personal care products both in store and in their shared content online to spread messages of selfcare, DIY personal care and protection. Watsons also opened a total of 67 physical stores and launched new Watsons Generics products like rubbing alcohol, effervescent, generic vitamins, and supplements to continuously meet the demands of their customers especially during these challenging times.

SSS self-employed, voluntary membership up by 20.2%

HE number of self-employed and voluntary members (SEVM) of the Social Security System (SSS) increased by 20.2 percent to 8.43 million, as of May 2021. SSS President and Chief Executive Officer Aurora C. Ignacio said the double-digit jump in voluntary and self-employed membership is a clear indicator that more individuals now recognize the value of SSS coverage, particularly the benefits and privileges the pension fund offers, more than ever during these challenging times. “While mobility is affected as a result of community quarantines and lockdowns, the pandemic did not stop SSS in its campaign for universal coverage, especially for those in the informal sector. We made sure that our online facilities—particularly our social media accounts, online seminar sessions, and e-learning portal—remained active and widely accessible to continuously inform the public and our members that social security protection is an affordable investment and savings option during this pandemic and in the future,” Ignacio said. Of the 40.52 million total covered SSS members as of May 2021, about 8.3 percent or 3.36 million are self-employed, while 12.5 percent or 5.07 million are voluntary members. “ Being part of the 3.73 million unemployed individuals (per the latest Labor Force Survey of the Philippine Statistics Authority, as of May 2021), they are deemed as the most vulnerable members of the society. SSS coverage is the most affordable form of social security they can avail of,” Ignacio said.

A self-employed member should not be over 60 years old and has no employer other than himself/herself, and derives a monthly income of P3,250 below from trade, business or occupation. These include self-employed professionals; partners and single proprietors of businesses; actors and actresses, directors, scriptwriters, and news correspondents who do not fall within the definition of the term “employee;” professional athletes, coaches, trainers, and jockeys; individual farmers and fisherfolks; workers in the informal sector such as market and ambulant vendors, transport workers, and those similarly situated. Contractual and job order personnel engaged by the government through a Contract of Service and who are not covered by the Government Service Insurance System (GSIS) and other selfemployed persons as may be determined by the Social Security Commission (SSC) are also included in this category. A voluntary member, meanwhile, could either be a non-working spouse (NWS) of an SSS member or a separated member. NWS members are those who are legally married to a currently employed and actively paying SSS member, devoting full time in the management of household and family affairs, and has never been a member of the SSS. Those separated from employment or have ceased to be selfemployed, an Overseas Filipino Worker (OFW), or an NWS but intends to continue paying SSS contributions on his/her own account, falls under this category. Regularly paying, self-employed, and voluntary members are entitled to the same social security benefits such as sickness, maternity, disability, retirement, death, and funeral benefits. They are also qualified to avail of member loans for salary, calamity, and educational assistance as well as pension loan once they become retiree-pensioners. “Like covered employees in the private sector and household workers, self-employed members are now covered as provided in the Employees’ Compensation Program (ECP) and now have additional benefits in the event of work-related contingencies such as sickness, injury, disability, or death,” Ignacio added.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

WHO lauds DOH efforts to eliminate trans fat By Claudeth Mocon-Ciriaco

hat do pre-packaged goods such as chips, cookies and biscuits, baked goods such as bread and pastries, spreads, butter, and shortening have in common? They all contain Industrially produced trans fatty acids (iTFA). Industrially produced TFA is commonly used as an ingredient in prepackaged and processed food to increase shelf life. According to the to the 2017 World Health Organization (WHO) NonCommunicable Disease Report, about 3,000 Filipinos suffer from premature mortality due to the high consumption of iTFAs. Studies have shown that high intake or consumption of iTFA increases bad cholesterol and blood sugar and decreases good cholesterol, thereby contributing to the risk of developing cardiovascular and other non-communicable diseases.

Risk of serious illness With alternative fats and oils available, removing iTFA in prepackaged and processed food protects consumers from the risk of serious illness and premature deaths linked to high TFA consumption. The WHO commends the approval of Department of Health (DOH) AO 2021-0039 as a lifesaving public health intervention. The elimination of iTFA from the food supply is one of the priority targets identified in the draft 13th General Programme of Work of the WHO in 2019-2023. “The Philippines is rising to the challenge of promoting cardiovascular health amidst this global pandemic through the issuance of this national policy and joining many other countries that have banned the use of iTFA in prepackaged and processed foods. The WHO is committed to assist the DOH in implementing this very significant policy that will save many Filipino lives and contribute to the improve-

ment of the quality of life for others,” WHO Representative to the Philippines Dr. Rabindra Abeyasinghe said.

List of prohibitions The AO prohibits the production, importation, distribution, and sale of products with iTFA. The DOH will ensure its proper implementation by promoting active coordination across all sectors. The Philippine Food and Drug Administration (FDA) will also issue technical regulations to guide the food industry’s compliance with the policy. The DOH also supports efforts to advocate for the passage of the Trans Fat Free Philippines Bill which seeks to stipulate the multisectoral efforts needed in order to gradually eliminate TFA from the country’s food supply. The bill will also reinforce the initiative to strengthen preventive health care through nutrition promotion.

Generics, pharma firms’ tie-up launches new asthma drug

HEA Generics, a homegrown pioneer in the marketing and distribution of high quality and affordable health-care products, has entered a new partnership with leading phar maceutica l company Boehringer Ingelheim (Philippines), Inc. (BIPHI). The initial offering from this partnership is the launch of an affordable combination medication for the management of reversible bronchospasm associated with obstructive airway diseases that include chronic obstructive pulmonary disease (COPD) and asthma. Both asthma and COPD fall under respiratory diseases, a group of illnesses consistently ranked among the top causes of death in the Philippines. As of 2018, the morbidity rate of respiratory illnesses in the Philippines was approximately 1.1 thousand per 100,000 people. Asthma refers to a medical condition in which the body’s airways narrow and swells, triggering breathing difficulties. It can be a very serious medical condition. The Philippines ranks 9th globally in terms of asthma mortality. On the other hand, COPD refers to a group of diseases that cause airflow blockage and breathing-related problems. Locally, COPD is among the top 10 causes of death in the country. With known causes including tobacco smoke, air pollutants, and other respiratory infections, the effects of COPD can range from activity limitations to the onset of other chronic diseases such as arthritis or diabetes.

Financial burden

While treatable, a patient may experience additional financial burden with medication, pulmonary rehabilitation,

Get flu vaccine to free hospitals for Covid-19 response–expert

Promotion of prevention The WHO also lauded the DOH’s policy to promote prevention and control non-communicable diseases by reducing iTFA in pre-packaged and processed food, and increasing public awareness of its negative impacts. “The elimination of iTFA in our food system is vital in promoting health and boosting immunity to fight Covid-19 as well as prevent non-communicable diseases that kill about 70% of Filipinos every year,” said Health Secretary Francisco Duque III on the occasion of the signing of the DOH AO. ImagineLaw, a law group that advocates for public health policies, welcomed the AO’s issuance. Lawyer Sophia San Luis, ImagineLaw’s Executive Director, congratulated the DOH for remaining focused on equally important public health issues amid the pandemic. “This policy will save lives and will make Filipinos more resilient to infectious diseases like Covid-19. With this policy, the DOH is taking steps to create a Healthy Pilipinas that is free from trans fat.”

supplemental oxygen, and other measures to manage asthma and COPD. Through the partnership with BIPHI, the medication offered by RHEA Generics will be sold at a price of up to 44% more affordable than other brands in the market. “We are beyond excited to establish a partnership with Boehringer Ingelheim [Philippines], Inc. to further bolster efforts in providing every Filipino family with access to world-class quality medicines at the most affordable cost,” said Neogin Evangelista, president and general manager of Philusa Corporation. Asked about the first product released through the partnership, Evangelista added, “BIPHI has been instrumental in the creation of the RHEA Generics medication for the treatment of asthma and chronic obstructive pulmonary disease. As a result, we will now be offering a product with a lower price compared to competitors while delivering the same level of quality, efficacy, and safety as the innovator brand.” “Value through innovation has always been the guiding principle at Boehringer Ingelheim [Philippines], Inc. In today’s competitive and fastchanging world, our commitment to the research, development, and production of quality medicine must coincide with the drive to ensure greater access to our innovations. This partnership with RHEA Generics is symbolic of a vision both companies share— improving the quality of life for as many people as possible,” said Yee Kok Cheong, general manager, Boehringer Ingelheim (Philippines),Inc. This new RHEA Generics medicine will be available in all Mercury Drug stores starting this July 2021.

Thursday, July 29, 2021 B7

By Rory Visco Contributor

here are a lot of respiratory illnesses out there but one noticeable kind—and has been with mankind for several decades already—is the influenza virus which causes the flu. This contagious respiratory illness infects the nose, throat and sometimes even the lungs, and can be mild or even severe or worse, can cause death.

The virus enters the body through the respiratory tract via droplets from an infected person, either through coughing, talking or sneezing (sounds familiar?), or contact with surfaces contaminated with discharges from an infected person. The influenza incubation period is from one to three days, with common symptoms like fever of at least 38⁰C, headache, runny nose, sore throat, cough or other respiratory manifestations, or even muscle and joint pains. According to the Department of Health’s (DOH) Inf luenza Monthly Surveillance Report from January 1 to June 29, 2019, it reported 68.091 influenza-like illness cases that afflicted 50 percent of males and 50 percent of females, with most of those affected in the one to four years of age range, or about 29 percent. According to Dr. Donald Ray Josue, Vaccines Medical Director of GSK Philippines, it is already influenza season in the country. Though it circulates all-year round, the highest number of cases occur from June to November, peaking in August or the so-called “flu season.” Since vaccination is still the best way to prevent flu, Dr. Josue said it should be given from February to June, but since the Philippines is in the middle of the flu season, everyone should be vaccinated as soon as possible.

Education is essential However, it seems many people are not aware about the impor-

tance of flu vaccination because they look at it as a simple fever or in Tagalog, trangkaso, Dr. Josue said. Since everyone experiences it, it is often not a priority. “What they need to realize is that trangkaso can result in serious complications. Sadly sometimes we cannot predict who among even normal healthy individuals can have the complications; you may liken influenza to colds plus fever equals trangkaso.” He explained that influenza is compared to the common cold since they share some symptoms, but influenza often has more severe ones that can lead to complications such as hospitalization and death. “These complications are more common in children below five years of age, pregnant women, patients with chronic illnesses, and the elderly. Local medical societies conduct disease awareness initiatives and have published guidelines on influenza prevention, including annual influenza vaccination. These guidelines are consistent with the World Health Organization (WHO) and other public health authorities’ recommendations like the Center for Disease Control and Prevention and Public Health England. “We need to note that now the guidelines are not just for health-care professionals and high-risk individuals unlike before. Influenza vaccination is recommended for children six months and over and is part of the routine childhood as well as

adult immunization schedule. To create awareness on the dangers of influenza, healthcare professionals should highlight in disease education that flu may have severe consequences, while vaccination has a full range of benefits, both in disease prevention and halting the spread of the disease. “It must also be emphasized that WHO indicates that flu vaccination can generate savings for individuals, and families.” Also, as a company, GSK Philippines, says Dr. Josue, is open to collaborate with non-government organizations and other institutions regarding its disease awareness programs on flu. Dr. Josue further emphasized that given the changes the pandemic has brought to health care, different platforms such as telemedicine and social media should be utilized in delivering these messages. Relatedly, there are available—and reliable—sites in the internet where information is available.

Priority to the pandemic Understandably, according to Dr. Josue, the health-care system has to prioritize its Covid-19 response to contain the pandemic. Furthermore, because of the restrictions in mobility, patients have experienced challenges in access to healthcare at this time. There are diseases that continue to pose a threat to the population and must also be given medical attention. However, influenza is a vaccine-preventable disease, unlike other ailments like diabetes or hypertension. This means that an effective vaccine can protect people from influenza and also prevent the complications. “Hence, educating people about the disease and the available vaccines is important because they’ll have greater knowledge on how they can protect themselves from getting sick. Additionally, getting flu vaccinations can also help in preventing an influenza outbreak from happening on top of the Covid-19 pandemic. Preventing a flu outbreak can, in turn, help our health-care system conserve the resources needed during this time.”

To gain access to health-care services for their ailments, Dr. Josue advised that telemedicine is a useful platform in practice and is accepted by patients for practical reasons of safety and convenience, particularly in this time of pandemic. Essentially, he said patients are advised that hospitals and other health-care facilities are following protocols to reduce their risk of exposure to Covid-19.

Flu vaccine With regards to vaccination for influenza, Dr. Josue said that even if the public is aware of flu and its prevention through healthy lifestyle and vaccination, many remain unvaccinated due to barriers like their busy schedules from balancing their responsibilities at home and work, complacency, thinking that their risk of contracting influenza is low, and the lack of awareness on its severity. “What many may not be aware of is that globally, there are advancements in vaccine development in terms of delivery and production platform. All of the existing licensed vaccines are effective in preventing influenza,” Dr. Josue remarked. In terms of vaccination hesitancy, which many think of today in light of Covid-19, it has been a challenge for the past few years in the country. However, the Covid-19 pandemic has presented an opportunity to educate the public on the importance of vaccines. “WHO promotes widespread immunization as it is cost-effective and one of the most successful interventions we have,” Dr. Josue averred. On top of the pandemic, Dr. Josue pointed out that people should also protect themselves from other, equally dangerous ailments, such as flu. Everyone should practice healthy habits such as good hygiene, healthy diet, enough sleep, and physical activity. In addition, the WHO says the most effective way to prevent influenza is through vaccination. More importantly, Dr. Josue said patients should also have regular wellness checks with their doctors to know more about influenza and the value of immunization.

Two key ingredients needed to strengthen a child’s immunity

nsuring children get the protection they need to stay healthy in these times is a mom’s top priority. To help ease their worries, helping kids build a strong immune system is important. The immune system protects the body against infections and other diseases. It has two main components—innate immunity and adaptive immunity. The innate immune system refers to nonspecific defense mechanisms that come into play immediately or within hours of the pathogen’s appearance in the body. These mechanisms include physical barriers such as skin, enzymes and protective proteins in the blood, and immune system cells that attack foreign cells in the body. Adaptive immunity refers to immune responses where pathogens must first be processed and recog nized during initial exposure. On subsequent ex posure, invading pathogens are recognized and

attacked by immune system cells and pathogen-specific antibodies. The adaptive immune system also has safeguards in place that make future responses against a specific pathogen more efficient.

Human milk Abbott has dedicated years of research to finding the right nutrients to boost the immune systems of children. Their studies reveal the powerful benefits of human milk oligosaccharides (2’-FL HMO) and nucleotides in strengthening a child’s innate and adaptive immunity. 2’-FL HMO is an immunen o u r i s h i n g p r e b i o t i c t h at serves as food for the good bacteria in the gut and prevents bad bacteria from attaching to gut cells. In a study by Abbott, it was revealed that children who consumed a formula with 2’-FL HMO experienced significantly fewer respiratory tract infections compared to those who received formula

without 2’-FL HMO. This prebiotic provides support for the innate immune system, as it strengthens a child’s natural ability to fight off infections at a very young age. Abbott discovered that children who were fed a formula with nucleotides at levels found in human milk developed enhanced production of antibodies in response to influenza and diphtheria vaccination, which helps suppor t the ad aptive immune system’s resistance against infections. “Good nutrition provides a strong foundation for all children to grow and thrive. With Abbott’s breakthrough science, nutrients such as 2’-FL HMO and nucleotides have now been added to Similac GainSchool growing up milk. This means parents now have access to a product that gives children protection through stronger immunity,” says Dr. Jose Rodolfo Dimaano, Jr., medical director for Abbott’s nutrition business

in Asia Pacific. “HMO helps strengthen the immune system by nourishing the good bacteria in the gut, where 70% of the immune system is located. Keeping your child’s digestive system healthy also means strengthening their immunity,” Dr. Dimaano added. Abbott understands the importance of supporting both i m mu ne s y stem f u nc t ion s. The addition of 2’-FL HMO a nd nuc leot ides to Sim i l ac GainSchool helps provide children a dual dayer of protection against infections and common illnesses. Additionally, with the introduction of nucleotides, Similac GainSchool ’s for mu l at ion m ay a l so help improve vaccination response against specific pathogens. By strengthening both innate and adaptive immunit y in k ids, Similac GainSchool remains a trusted partner of parents in ensuring that their kids are getting the right nutrition for strong immunity.

The World BusinessMirror

Thursday, July 29, 2021

South Korea reports another new high for daily infections

EOUL, South Korea—South Korea on Wednesday reported a new record 1,896 Covid-19 cases, a day after authorities started enforcing stringent restrictions in areas outside the capital region to slow a nationwide spread of infections.

The 1,896 cases announced Wednesday took the country’s total for the pandemic to 193,427, with 2,083 deaths from Covid-19. It was the highest daily jump since the pandemic began and surpassed a previous record of 1,842 announced last Thursday. The Seoul area has been at the center of the outbreak. On Tuesday, the government put much of the non-Seoul regions under the second highest distancing guidelines to guard against a nationwide viral spread. Health officials say many cases in the Seoul area have been traced to restaurants, schools, public bathhouses, churches and offices. Outside the capital, clusters have been tied to pubs, karaoke rooms, gyms and offices. South Korea has seen a sudden spike in new infections in the past several weeks amid a slow vaccination rollout, lax public vigilance and the fast spreading Delta variant. Health official Sohn Youngrae told a briefing Wednesday the most important objective at this point

is lowering the trajectory in the Seoul area by the end of next week and slowing the spread of the virus outside the capital region. Key developments:

Sydney lockdown extended

Austr alia’S largest city Sydney will remain in lockdown for another month. The New South Wales state government announced that the lockdown of the city of 5 million would last at least until August 28, after reporting on Wednesday 177 new infections in the latest 24-hour period. It was the largest daily tally since the cluster was discovered in mid-June. “I am as upset and frustrated as all of you that we were not able to get the case numbers we would have liked at this point in time but that is the reality,” New South Wales Premier Gladys Berejiklian told reporters. More than 2,500 people have been infected in a cluster that began when a limousine driver tested positive on June 16 to the contagious Delta variant. The driver had

People wait to be monitored for possible side effects after receiving the first dose of the PfizerBioNTech Covid-19 vaccine at a vaccination center in Seoul on July 28. South Korea reported a new daily high for coronavirus cases, a day after authorities enforced stringent restrictions in areas outside the capital region. AP/Ahn Young-joon

been infected by a US aircrew he transported from Sydney airport. The death toll from the cluster reached 11 on Wednesday with a woman in her 90s dying in a Sydney hospital.

Drivers need negative test

Drivers seeking to leave eastern China’s Jiangsu province will have to show a negative Covid-19 test taken in the last 48 hours or be forced to turn around, as cases in the province continue to rise. The provincial transport department said 93 checkpoints have been set up along highways in the province, whose capital Nanjing is the epicenter of China’s latest outbreak. Drivers must remain in their vehicles and wear masks while health workers carry out the checks, the notice said. China

has frequently used similar containment measures to stop the spread of the virus and has largely eliminated local transmission. The National Health Commission on Wednesday reported another 48 cases in Jiangsu over the past 24 hours, bringing its total to 154 over recent days. Authorities say the virus being transmitted is the highly contagious Delta variant. Another seven cases of local transmission were recorded in Sichuan, Liaoning and Yunnan provinces. The virus continues to spread despite China having administered more than 1.5 billion doses of vaccine—exceeding the size of the entire population of 1.4 billion. Questions have already been raised about the efficacy of Chinese vaccines, particularly among the elderly. AP

Man pleads guilty to 4 Asian spa killings, sentenced to life

ANTON, Georgia—A man accused of killing eight people, mostly women of Asian descent, at Atlanta-area massage businesses pleaded guilty to murder Tuesday in four of the killings and was sentenced to spend the rest of his life in prison. Robert Aaron Long, 22, still faces the death penalty in the other deaths, which are being prosecuted in another county. The string of shootings at three businesses in March ignited outrage and fueled fear among Asian Americans, who already faced increased hostility linked to the coronavirus pandemic. Many were particularly upset when authorities suggested Long’s crimes weren’t racially motivated but born of a sex addiction, which isn’t recognized as an official disorder. Cherokee Count y prosecutors had planned to seek the death penalty but decided a plea deal would bring swift justice and avoid any lengthy appeals. T hat ’s what the v ictims and their families who they were able to contact wanted, District Attorney Shannon Wallace said. Bonnie Michels’ husband of 24 years, Paul, was the first person killed. “A part of me died with him that day,” she told the judge. “I am shattered.” Elcias Hernandez Ortiz, who was shot in the face, also addressed the court, saying it’s been very hard for his family. “Honestly, this man, why didn’t he think before killing so many people? I only want justice,” he said through a Spanish translator. On March 16, Long shot and k i l led fou r people, t h ree of them women and two of Asian descent, at Youngs Asian Massage in Cherokee County. A fifth person was wounded. Long then drove to Atlanta, where he shot and killed three women at Gold

Robert Aaron Long enters Superior Court of Cherokee County in Canton, Georgia on July 27. Long, accused of killing eight people, most of them women of Asian descent at an Atlanta-area massage businesses pleaded guilty to four of the murders and was handed four sentences of life without parole. Ben Gray/Atlanta Journal-Constitution via AP

Spa before crossing the street to Aromatherapy Spa and killing another woman, police said. All of the Atlanta victims were of Asian descent. In Atlanta, Fulton County District Attorney Fani Willis has said she intends to seek the death penalty. There, Long faces charges of aggravated assault and domestic terrorism in addition to murder. Wallace reiterated Tuesday that Cherokee County investigators saw no evidence of racial bias. Long walked through the first spa “shooting anyone and everyone he saw” and told detectives he was motivated by a sex addiction. “This was not any kind of hate crime,” Wallace said during the hearing. I nvest i g ator s i nte r v ie we d people who knew Long for years, including three of Asian descent, who said they’d never heard him make racist comments, she said. Her team also considered the diversity of the people shot in Cherokee County. They included a Hispanic man and a white man and woman. Asian American community leaders said Tuesday they were

concerned that the shootings continue to be blamed on a sex addiction. Long’s crimes were “intended to target Asian people, specifically Asian women,” said state Rep. Bee Nguyen, the first Vietnamese American to serve in the Georgia House and a frequent advocate for women and communities of color. Wallace said she would have argued at trial that Long was motivated by gender bias, though that wouldn’t have extended his sentence. Prosecutors in Fulton County, where all the victims were women of Asian descent, have said they believe Long was motivated by race and gender. They plan to seek a hate crime sentencing enhancement. Georgia’s new hate crimes law doesn’t provide for a stand-alone hate crime. After a conviction on an underlying crime, a jury determines whether it was motivated by bias, which carries an additional penalty. The American Psychiatric Association doesn’t recognize sex addiction in its main reference guide for mental disorders. While some people struggle to control sexual behaviors, it’s often

linked to recognized disorders or moral views, said David Ley, clinical psychologist and author of “The Myth of Sex Addiction.” Long previously underwent inpatient and outpatient treatment for sex addiction, Wallace said. In fact, it was another patient who gave him the idea to seek sexual services at massage businesses, she said. Long signed a plea agreement admitting to all charges in Cherokee County, including malice murder, felony murder, attempt to commit murder and aggravated assault. Cherokee County Superior Court Chief Judge Ellen McElyea then handed him four sentences of life without parole plus an additional 35 years. Those killed in Cherokee County: Michels, 54; Xiaojie “Emily” Tan, 49; Daoyou Feng, 44; and Delaina Yaun, 33. The Atlanta victims were: Suncha Kim, 69; Soon Chung Park, 74; Hyun Jung Grant, 51; and Yong Ae Yue, 63. Long said he planned to kill himself that day and went to the massage businesses thinking that paying for sex—which he considered shameful—would push him to do it. But while sitting in his car outside the first spa, he decided to kill the people inside. After he was caught in south Georgia, Long told detectives he struggled with pornography and sex. He believed he was an addict and felt tremendous guilt when he viewed porn or engaged in sexual acts at massage businesses, Wallace said. Long blamed the victims for his inability to control his impulses, Wallace said. Long is scheduled for arraignment next month in Fulton County. His Cherokee County lawyers said in a statement they hope prosecutors there will follow Wallace’s example and reach a similar plea agreement. AP

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

Tokyo governor urges youth to get vaccinated to slow surge

OKYO—Tokyo Gov. Yuriko Koike on Wednesday urged younger people to cooperate with measures to bring down the high number of infections and get vaccinated, saying their activities are key to slowing the surge during the Olympics. On Tuesday, the Japanese capital reported 2,848 new cases, exceeding its previous record in January. Koike noted that the majority of the elderly have been fully vaccinated and infections among them have largely decreased, while the mostly unvaccinated younger people are now dominating the new cases. “Younger people’s activity holds the key [to slowing the infections], and we need your cooperation,” Koike said. “Please make sure to avoid nonessential outings and observe basic anti-infection measures, and I would like younger people to get vaccinated.” As of Tuesday, 25.5 percent of the Japanese population has been fully vaccinated. The percentage of the elderly who are fully vaccinated is 68.2 percent, or 36 million people. Vaccination prospects for the younger have improved, and some can get their shots organized by work places and colleges, while others still wait based on seniority. But there are also concerns over hesitancy among the young, with surveys showing many of them having doubts, in

part due to fake rumors about side effects. Younger people have been blamed for roaming downtown areas after the requested closing hours for eateries and stores and spreading the virus. Tokyo is under its fourth state of emergency, which is to continue through the Olympics, but it mainly focuses on requiring establishments to stop serving alcohol and shorten their hours. Measures for the public are only requests and they are increasingly ignored. Prime Minister Yoshihide Suga has also urged people to avoid nonessential outings but says there is no need to consider a suspension of the Games, which are held with no fans in Tokyo and three neighboring prefectures—Chiba, Kanagawa and Saitama. Governors of the three areas, alarmed by Tokyo’s surging cases, said on Wednesday they plan to jointly ask Suga to place their prefectures under the state of emergency too. Nationwide, Japan reported 5,020 cases in the last 24 hours for a total of 870,445 and 15,129 confirmed deaths. Japan has kept its cases and deaths lower than many other countries. Its seven-day rolling average of cases is about 3.57 per 100,000 people, compared to 2.76 in India, 17.3 in the United States and 53.1 in Britain, according to data from Johns Hopkins University. AP

US says thaw between North, South Korea helps nuclear talks

he US offered its support for the move by the leaders of two Koreas to improve relations and reconnect the hotlines cut off for more than a year, saying it might help stalled nuclear talks. It was responding to what appeared to be a coordinated announcement Tuesday from Seoul and Pyongyang calling for reconciliation and reopening hotlines that had been silent since a flare-up in June 2020, when Kim Jong Un’s regime blew up a liaison office on its side of the border funded by South Korean President Moon Jae-in’s government—one of Pyongyang’s most dramatic provocations in years. “This is a positive step,” the US State Department said in a statement. “Diplomacy and dialogue are essential to achieving complete denuclearization and to establishing permanent peace on the Korean Peninsula.” The agreement was spurred by an exchange of letters between Kim and Moon, coming as the South Korean president, in the final months of his term that ends in May, tries to make good on his key policy pledge of reconciliation. Moon’s office said Wednesday there was no discussion of a possible summit between the president and Kim, repeating a similar statement a day earlier.

It also dismissed as “not true” a Reuters report on Wednesday that said the two Koreas were in talks to reopen a liaison office and hold a meeting. South Korean newspaper Chosun Ilbo had earlier reported, citing unnamed officials, that Seoul was preparing for a summit and looking at precautions to prevent the spread of the coronavirus. Broadcaster TV Chosun reported late Tuesday the Moon government was planning to build a quarantine facility on its side of the Panmunjom truce village inside the demilitarized zone for a possible inter-Korean summit. North Korea’s strict border closures due to the pandemic have undermined an economy already battered by US-led sanctions. Its economy will barely grow in 2021 after its worst contraction in decades as it continues to struggle with the pandemic, international sanctions to punish it for nuclear and missile testing, and a lack of trade with China, Fitch Solutions said in April. North Korea has said it has no Covid-19 infections—a claim doubted by the US, Japan and others—and has so far failed to settle on terms that would allow global groups to deliver vaccines to the reclusive country. Bloomberg News

Blinken talking to top Indian officials to strengthen ties

EW DELHI—US Secretary of State Antony Blinken was talking with top Indian officials Wednesday in meetings that are expected to deepen ties between the important allies that are both rivals to a rising China. Blinken and Foreign Minister Subrahmanyam Jaishankar were likely to discuss strengthening Indo-Pacific engagement, seen as a counter to China, as well as New Delhi’s recent human rights record and issues related to the coronavirus pandemic and climate change. A possible summit of leaders of the Quad in the US later this year is also expected to be on the agenda. The US and India are part of the Quad regional alliance that also includes Japan and Australia and

helps deal with China’s growing economic and military strength. Washington has long viewed New Delhi as a key partner in efforts to blunt increasing Chinese assertiveness in the Indo-Pacific region, and ties between them have been on the ascent over the last few years. Blinken’s India visit comes just days after his No. 2 diplomat, Wendy Sherman, was in China. He will meet Prime Minister Narendra Modi later Wednesday. Before meeting with Jaishankar, Blinken held closed-door talks with India’s National Security Adviser Ajit Doval, details of which were not released. He also spoke to civil society leaders and said the fundamental freedoms and rule of law were “tenets of democracies” like the US and India. AP