BusinessMirror June 03, 2024

TBy Reine Juvierre S. Alberto

HE national government’s payment of its domestic and external debts nearly rose by half in the January to April period in 2024 as higher amortization outpaced interest payments, according to the Bureau of the Treasury (BTr).

L atest data from the Treasury showed that the state’s debt service reached P1.147 trillion in the first four months of the year, a 48.86-percent increase or P376.521 billion, from the P770.479 billion recorded in the same period in 2023. A mortization of debt payments, which is the repayment of loan principal over time, rose by 52.38 percent to P887.243 during the four-month period from P582.249 billion posted a year ago. Broken down, domestic and external amortization amounted to P754.770 billion and P132.473 billion, respectively.

TBy Cai U. Ordinario @caiordinario

HE national government’s pipeline for public private partnerships (PPPs) now covers 134 projects amounting to P3.03 trillion, according to the PPP Center.

Meanwhile, interest payments almost tripled in the four-month period, reaching P260.488 billion, recording a 173-percent growth compared to P95.100 billion in 2023. T he government paid P185.305 billion in domestic interest payments and P75.183 billion in foreign interest payments from January to April. For the month of April, however, the government’s debt service declined by 21.03 percent yearon-year to P161.695 billion from P204.763 billion in 2023.

T he four delisted projects were the Cavite Tagaytay Batangas Expressway Project; Unsolicited Proposal for EDSA Bus Rapid Transit (BRT); Unsolicited Proposal for the Development, Operations, and Management of the Davao International Airport; and Advance Passenger Processing and Passenger Name Record (APP-PNR).

T he pipeline was recently updated to include 13 new projects, estimated to cost at least P38 billion, and delisted four projects. With this, the pipeline is shorter than the 137 projects initially included which amounted to P3.1 trillion.

CRUISE SHIPS DROP ANCHOR THE MOST IN PALAWAN, BORA

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

CLOSE to 80,000 cruise passengers are projected to arrive in the Philippines from 2024 to 2026, based on a partial report from the Department of Tourism (DOT).

T he government agency counted 153 port calls by several cruise ships this year until 2025, with 40 to take place from January to June 2025, according to DOT’s cruise schedule report as of May 3, 2024, obtained by the BusinessMirror . For 2024, the actual number of passengers aboard these cruise ships that may make multiple port calls in the country is 50,608, but for January

to June 2025, total passengers are seen reaching 23,963. For 2026, only one cruise ship has been scheduled so far, bringing 3,000 passengers to Manila. The DOT continues to update its cruise schedule report.

Data earlier provided by the Bureau of Immigration showed 32 cruise ships dropped anchor in the Philippines last year, bearing 55,442 cruise passengers. In prepandemic 2019, there were 102 cruise ships that visited the Philippines.

M anila is the most  popular destination this year, and will receive 34 ship calls, but for areas outside Manila, the Palawan capital of Puerto Princesa tops the list with 13 calls, followed by Coron, also

Hot money inflows post lowest level in 6 months

B SP said, however, hot money registration between January and April 2024 yielded net inflows of $65 million, a turnaround compared to the $680-million net outflows noted for the same period last year.

“ Registration of said investments with the BSP, through the authorized agent banks, may not necessarily coincide with either trade or settlement date of the underlying transaction, and thus, such registration may be effected even after the actual foreign investment transaction has long been completed,” BSP said.

to the following inward foreign investments registered with authorized agent banks: PSE-listed securities; Peso-denominated government securities; Peso time deposits with banks with minimum tenor of 90 days; other Peso debt instruments; unit investment trust funds; and other instruments such as Exchange Traded Funds and Philippine Depositary Receipts,” BSP said.

CEREMONIAL LAYING OF BUOYS Senator Cynthia Villar led the ceremonial laying of buoys at the Verde Island Passage (VIP), the center of global marine biodiversity, in Brgy. Solo Anilao, Mabini, Batangas, on Saturday, June 1, 2024. This event marks the transition from celebrating May as the Month of the Ocean to World Environment Day on June 5. Joining her were Mabini Mayor Milo Villanueva, Assistant Secretary Atty. Julius Yano of DOT-Maritime Affairs, Coast Guard Vice Admiral Rolando Lizor N. Punzalan Jr., Acting Asst. Chief PMaj. Arnold Penales-RMU4A, and environmental lawyer Atty. Antonio Oposa Jr. ROY DOMINGO

LGUs must do their part for fruitful EPRA impact–Villar

By Butch Fernandez @butchfBM

WHILE modest progress has been made in coaxing compliance by manufacturers with the Extended Producers Responsibility Act (EPRA), the local government units, the parties primarily tasked with solid waste disposal, must step up and mobilize communities in a holistic effort to push proper trash collection and recycling.

S en. Mark A. Villar stressed this on Friday in his speech at the second BusinessMirror Sustainability Forum, focusing on updates in implementing the landmark EPRA, 18 months since its enactment.

T he forum was held at the Hotel Lucky Chinatown in Binondo, Manila, part of the Megaworld chain.

“I encourage our LGUs and other stakeholders present here to stimulate grassroots discussion on the importance of achieving the Net Zero Goal. What is at stake here is not ours, but the future of the gen -

Cruise ships...

in Palawan, with 10, and Boracay with eight calls. For 2025 so far, Puerto Princesa is the destination of choice by cruise ships with 14 calls, followed by Boracay, with 10 calls, and Salomague in Ilocos Sur, with four.

erations of Filipinos after us,” said Villar. He noted how the EPRA has shifted the burden of waste disposal to manufacturers, who have since spent billions on research and development and on overhauling their processes to come up with packaging that discourages one-time-use only plastics and makes recycling and up-cyling attractive.

T he EPRA, authored by Senate Environment panel chair Cynthia Villar, “represents a proactive response to the critical imperative of addressing the pervasive issue of plastic waste,”

Continued from A1

according to Senator Mark.

I n shifting “the financial burden of waste management to producers,” the law was envisioned to help “reduce the public cost of waste disposal and decrease the volume of plastic waste,” he added.

EPRA, he said, “aims to achieve plastic neutrality by ensuring that an equivalent amount of plastic product created is recovered or removed from the environment by the product producers through an efficient waste management system for every plastic product.”

T he authors of the law had acknowledged, he explained, the inescapable resort of budget-scraping Filipinos to the “Tingi culture,” which he described as “the buying and trading of small amounts of products.”  Since the Filipino consumers cannot be expected to level up purchases to bulk buying any time soon, the burden for ensuring that the “sachet packaging” inherent in the “tingi culture” does not

compound pollution has shifted to the factories.

A fter all, he noted, the “plastic waste we produce annually is at 2.7 million tons.”

It is obvious that “plastic waste pollution has been one of the dominant environmental problems in the country,” said the senator.

N onetheless, Villar noted, it was never the intention of the law to  fully lodge that responsibility in manufacturers, given that the task of educating and mobilizing communities in embracing sustainability and responsible waste disposal falls upon the LGUs.

He cited the great efforts and investments made by certain manufacturers whose initiatives preceded the law, among them food and beverage giant Nestle Philippines and “smart-snacking” company Mondelez Corp., whose officers presented updates, at the BM forum, on their compliance with the law and the emerging challenges.

A mortization payments in April amounted to P94.199 billion, down by 40.57 percent, compared to the P158.510 billion recorded in the same month a year ago.

I nterest payments, meanwhile, rose by 45.93 percent to P67.496 billion from P46.253 billion in April 2023.

R izal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort told the BusinessMirror the government’s debt service in April declined year-on-year partly due to lower debt maturities paid, both principal and interest payments.

T his, Ricafort said, despite higher inflation, which resulted in higher interest rates and increased the government’s borrowing costs.

T he Bangko Sentral ng Pilipinas said on Friday that inflation is likely to settle within the 3.7 to 4.5 percent target range in May, breaching its inflation target of 2 to 4 percent. (See: https:// businessmirror .com.ph/2024/05/31/ bsp-may-inflation-likely-at-37-4-5-range-driven-by-highelectricity-vegetable-prices/).

T he BSP’s Target Reverse Repurchase (RRP) was maintained at 6.5 percent, while interest rates on the overnight deposit and lending

facilities also remained at 6 and 7 percent, respectively.

R icafort said the anticipated rate cuts this year would help temper if not reduce interest payments and overall debt servicing costs.

T he weaker peso has also elevated the peso equivalent of foreign debt and principal payments, Ricafort added.

L ast year, the state reported a total of P1.603 trillion in debt payments, with amortization at P975.278 billion outpacing interest payments at P628.333 billion.

T he government has recorded an outstanding debt of P15.017 trillion as of March 2024, with domestic debt amounting to P10.308 trillion and external debt at P4.708 trillion.

T he Department of Finance (DOF) raised the government’s borrowing plan to P2.57 trillion in 2024, higher by 4.47 percent than the P2.46 trillion target set by the Cabinet-level Development Budget Coordination Committee (DBCC).

T he state’s debt servicing program for this year is set at P1.911 trillion, the bulk allotted to amortization payments at P1.241 trillion and interest payments at P670.471 billion.

Penalized port handler, shore operator THE DOT considers cruise tourism a niche tourism product that needs to be further developed and prioritized in its promotion efforts.  A s this developed, the Norwegian Cruise Line (NCL) will continue to use Ben Line Agencies and Travel People Ltd. as its port handler and shore operator, respectively, despite the heavy criticism levied against the cruise firm by passengers, who were poorly assisted upon disembarkation in the port of Manila last November.

port showed NCL was still using both companies on their cruises in the Philippines from February 24 to 27 this year, then again on a forthcoming trip to the country on December 8-29, and all its cruises in 2025.

T he same cruise schedule re -

I n its latest press release, NCL noted the growing interest of Southeast Asian travelers in going on cruises within Asia. Japan is the most popular destination, while in Southeast Asia, “Thailand emerged as the top destination, followed by Indonesia and Malaysia.” It added that, “The Asia-Pacific region is set to be the primary driver of travel growth [this year], up 20 percent over 2023,” citing a report from Skift Research.

‘Chaotic’ Manila port MANY of its cruises in Asia this year have gone on sale with a 50-percent discount, according to its sponsored ads on Facebook and other social media accounts.

A Facebook post late last year went viral when a cruise passenger spoke up on the “chaotic” disembarkation procedures suffered by him and fellow passengers on the Norwegian Jewel. He specified the lack of space at the Port of Manila for their processing, inadequate number of porters to handle their luggage, the disorderly fashion in processing their documents, along with taxi drivers hassling foreign tourists with their unreasonable rates.

T his resulted in the 30-day suspension of Ben Line and Travel People by the Philippine Ports Authority (PPA) to “give the operators more time to review their processes to further improve their services and ensure that a similar incident does not recur.” The PPA, however, failed to respond to passenger complaints involving government personnel involved in the processing of the former’s documents, and why only one gate was open for passengers’ exit, leading to crowding on the way out of the passenger terminal.  (See, “PPA suspends ship, shore-ex agents of Norwegian Cruises,” in the BusinessMirror , December 22, 2024.)

T here were 2,300 passengers on the Norwegian Jewel, a ship NCL regularly uses on its cruises that include Philippine destinations. The cruise line, however,  continues to snub the BusinessMirror’s attempts to get its side of the controversy.

T he terminal at Manila’s South Harbor Pier 15, is operated by Asian Terminals Inc. Many tourism leaders have a described the terminal as “usually chaotic. It’s a quasi-passenger port that has been converted from a cargo port.”

“ The change in the number of projects in the pipeline is due to the addition in the list of unsolicited proposals endorsed by the PPP Center to Implementing Agencies [IA] for their decision to proceed with detailed evaluation or rejection of the same; addition of projects included in the Lists of PPP Projects submitted by IAs to the PPP Center; [and] delisting of PPP projects,” the PPP Center said in a document it recently shared with reporters.

In terms of the latest addition to the PPP pipeline, the largest projects were Pampanga Bulk Water Supply Project and Civil Aviation and Immigration Security Services, which were estimated to cost P18.70 billion and P16.89 billion, respectively.

T he Pampanga Bulk Water Supply Project is an unsolicited proposal that is currently under evaluation by the IA. It will be undertaken by the provincial government of Pampanga and Manila Water Philippine Ventures Inc.

T he Civil Aviation and Immigration Security Services, meanwhile, is also an unsolicited proposal that has been endorsed to an IA for their decision to proceed with the detailed evaluation. It will be undertaken by the Bureau of Immigration and Securiport LLC.

O f the 13 projects added to the list, two still do not have cost estimates as they are under conceptualization. These are the establish -

“They are hiding and waiting [for] the crisis to pass,” she said, adding that those living the south of Nouméa are more secure than those in the north.

Food crisis

ROUQUET said the main problem now is the food supply.

Half of the shops of the city has been burned and not supplied. It is hard to move from a place to another because of the roadblocks held by the indépendantists. Some areas, cannot be crossed, [like] my place for example,” she said. Since French President Emmanuel Macron imposed a state of calamity, security forces in New Caledonia slowly gained control over the islands.

S o her family can now go out to buy food. H owever, many people had to queue for hours to buy food. In her area, the food is being rationed.

“There are no more rice, flour, fresh milk and more,” she added.

A t the time of this writing, power and water supplies, communication, medicine and access to doctors have improved.

For three days at the beginning

ment of Bulk Water Facility for La Union and the La Union Integrated Terminal Exchange.

T he PPP Center also said there are no cost estimates yet for three projects due to the need for verification. These are the establishment of Dialysis Center in all Provincial Government of La Union (PGLU) District Hospitals (DH) and La Union Medical Center (LUMC), and the Bus Rapid Transit System in Cavite. E arlier, the PPP Center said it expects at least 20 solicited projects to advance to the Investment Coordination Committee (ICC) and/or the National Economic and Development Authority (Neda) for approval this year.

I nitially, PPP Center Undersecretary and Executive Director Ma. Cynthia C. Hernandez said only 15 projects are expected to be approved this year. (See: https://businessmirror .com.ph/2024/02/20/ ppp-center-lists-28-projects-upfor-implementation-in-24-25/). Hernandez said there could be more projects, depending on the number of unsolicited projects that could be submitted for ICC or Neda Board evaluation and approval. Right after the passage of the PPP Code, the PPP Center has already processed 20 unsolicited projects. (See: https:// businessmirror com.ph/2024/03/22/ppp-center-expects-20-solicited-projects-to-advance-to-neda/).

of the conflict, power and water supplies were cut off. She hopes they would no longer endure those days of nightmare. The situation is really unstable since no political decision has been taken yet between the political parties,” she said.

Philippine Consulate in Australia THERE is no Philippine consulate in New Caledonia. The Philippine Embassy in Paris has political jurisdiction over France and its territories, but given its distance, the Philippine Consulate in Sydney exercises consular jurisdiction over New Caledonia. R ouquet said Philippine Consul General Charmaine Aviquivil as well as the Australian government are proposing an emergency evacuation of the Filipinos in New Caledonia to Australia.

B ut evacuation plans, even by other foreign governments, are being stalled as the international airport is closed.

“ Now we are trying to help each other in our community. Sharing food and essential needs, identifying the isolated families, and psychologically helping one another,” she said.

Philippines, Singapore reaffirm defense ties

DEFENSE Secretary Gilbert C. Teodoro and Singapore Defense Minister Ng Eng Hen

reaffirmed on Saturday the broadbased bilateral defense and security relations between two countries.

The two met on the sidelines of the 21st International Institute for Strategic Studies Shangri-La Dialogue.

In their meeting, Teodoro and Ng also vowed to further strengthen their cooperation in areas of mutual interest such as regional security.

“We value your voice in regional and multilateral forums,” Ng told Teodoro.

In return, Teodoro stressed the need to “cooperate more on areas of mutual interest.”

Relatedly, Teodoro also met with the defense ministers of Lithuania, Canada, and New Zealand with the goal of broadening defense and security cooperation.

This also took place at the sidelines of the 21st International Institute for Strategic Studies Shangri-La Dialogue (SLD), which opened on May 31.

During their meeting Defense Minister Laurynas Kasčiūnas of Lithuania offered Teodoro defense and military training on cybersecurity, among others.

The Philippine defense chief instructed senior defense officials present during the meeting to immediately explore areas of cooperation for a possible memorandum of understanding to develop PhilippinesLithuania defense cooperation.

Teodoro, through Kasčiūnas, invited the Lithuanian people to visit

the Philippines and for Lithuanian maritime companies to tap Filipino seamen, who are known to be among the most skilled in the world.

In their meeting Defence Minister Bill Blair of Canada and Teodoro re-affirmed the “long, enduring friendly relations” between their two countries.

Blair strongly lauded the Philippines for forging defense and security alliances with countries such as the US, Japan, and South Korea.

“Canada has a major role to play in the Indo-Pacific region,” the Philippine defense chief said in return.

During her meeting with Teodoro, Defence Minister Judith Anne Collins of New Zealand told Teodoro that her country is “deeply concerned with what is happening in the West Philippine Sea.”

“New Zealand has to engage the Indo-Pacific region,” she said.

“The Philippines is not the one causing the problem over there,” Teodoro told Collins.

Teodoro and Collins discussed stronger defense cooperation, notably in the areas of engineering and logistics.

DOJ to PMO: Prioritize small investors in sale of government shares in Nlex

TPEZA eyes $100-B investments in vital sectors from US, Japan

TBy Cai U. Ordinario @caiordinario

HE Philippine Economic Zone Authority (PEZA) is eyeing to attract about $100 billion in prospective investments from the United States and Japan in the electronics and manufacturing sectors, among others.

In a statement, PEZA Director General Tereso O. Panga said the prospective areas of American and Japanese investments also include supply chains, clean energy, agri-business, rail, and port infrastructure development.

These will be made possible by unique opportunities from the China+1 strategy, the US CHIPS Act, and the US-Japan-Philippines trilateral agreement, among others.

“We also see our investors taking advantage of the upcoming Luzon economic corridor which will support connectivity among Subic Bay, Clark, Manila, and Batangas as well as facilitate strategic, anchor invest -

ments within each hub in high-impact infrastructure projects among others,” Panga added.

Panga noted as well that the inclusion of Ecozone Logistics Service Enterprises (ELSE) in the new Strategic Investment Priorities Plan allows for more logistics companies to come in and support the upcoming new investments, especially within the ecozones.

“If we can grow the number of our locator companies, all those in the supply chain, logistics, and others will benefit from it. PEZA is the microcosm of the bigger economy. If we see ecozones flourishing, we can also see a more vibrant economy,” Panga said.

The PEZA official remains bullish in increasing its more than 300 companies with American equity in the Philippines and bring in more investments in the country and jobs for the Filipino people.

This is especially the case with the country’s recent economic performance, which ranked the Philippines among the best performing economies

in the region.

Panga noted that the country’s economic success in the past two to three years allowed PEZA to attract P175.7 billion in investments in 2023, a six-year high.

“We cannot pass up on the current developments and opportunities in ally-shoring as the Philippines is still in the sweet spot for attracting investments into the country,” Panga stressed.

Ease of doing business

PEZA also assured investors who recently raised concerns over the need to remove barriers to doing business in the country that efforts are under way to improve the Ease of Doing Business in the Philippines.

Panga said PEZA is implementing several ‘leap-frogging’ strategies to address the challenges in the supply chain, industrial, and logistics sectors and in the process attract more industrial investments, particularly in the ecozones.

DTI notes spike in volume of seized vape products

THE volume of illegal vape products seized by the government in the past five months was four times more than the total for the whole of 2023, the Department of Trade and Industry (DTI).

The DTI said it has confiscated P25.87 million worth of illegal vape products in the January to May period this year, 374.42 percent higher than the products valued at P5.45 million seized in the whole of 2023.

showcase our intensified efforts and we will not stop here,” Trade Secretary Alfredo E. Pascual said.

“We will continue to pursue these illegal activities, working closely with other agencies and stakeholders. Our aim is nothing less than the complete eradication of the illegal vape trade, fostering a healthier environment for Filipino businesses and consumers,” he added.

These strategies include the automation of systems and processes to provide excellent service to our clients with our unique brand of service and the creation of an off-dock container yard in our zones for a more effective container exchange.

PEZA is also working on the creation of a logistics park under PEZA’s new frontiers in ecozone development as well as a multi-industry infrastructure convergence where PEZA and the government are committed to providing for all infrastructure needs of our locators.

Panga said PEZA is also strengthening its partnership with the Bureau of Customs to ensure unhampered operations to and from the zones.

He noted the continuation of engagement with lawmakers for the possible amendments on investment laws and other economic provisions as well as in updating archaic laws such as the parameters for regulated commodities that are not aligned with international standards.

sale and distribution of the vape brand Flava due to repeated violations of RA 11900.

In addition, a joint operation with the National Police in April yielded P24.8 million worth of illegal Flava vapes from an establishment located 20 meters from an elementary school in Parañaque City.

By Joel R. San Juan @jrsanjuan1573

HE Department of Justice

(DOJ) has advised the Privatization Management Office to prioritize small local investors in the disposition of the 649,200 shares owned by the government in Manuel V. Pangilinan-led North Luzon Expressway (Nlex) Corporation.

In his recent legal opinion, Justice Secretary Jesus Crispin Remulla said that the preference for small local investors is mandated under Republic Act 7181 which extended the term of the Committee on Privatization and the Asset Privatization Trust.

Remulla cited Section 2 (d) of the law which provides that “a minimum of 10 percent of the sale of assets in corporate form shall first be offered to small local investors.”

He noted that this provision was adopted in Section 2(f) of RA 7661 and RA 7886, which further extended the term of the committee.

The said provision states: “In the best interest of the Government and the small local investors and for the development of the domestic capital market, no offer of sale to large investors shall be undertaken until after a minimum of ten percent [10%] of the sale of assets in corporate form shall have been offered to small local investors, including Filipino overseas workers.”

Remulla issued the legal opinion upon the request of the chief of the Privatization and Management Office (PMO), lawyer Maan Vanessa Doctor.

In her letter-request, Doctor sought the DOJ’s clarificatory opinion on the requirement for the PMO to reserve a minimum of 10 percent of the sale of assets in corporate form to small local investors under Executive Order 323, Series of 2020 in relation to the disposition of the shares owned by the government.

Doctor noted that the justice department had issued a legal opinion on November 17, 2023 stating that E.O. No. 323 provided a clear mandate to

reserve 10 percent of the sale of corporate assets to small local investors. In line with this, the Privatization Council (PrC), issued a memorandum relative to the approval of the offer to purchase the said shares of the government in the NLEX Corporation and on the basis of the November 2023 DOJ legal opinion.

The memorandum states that “under the said DOJ opinion, the DOJ opines that only after the other shareholders of NLEX Corporation have declined/failed to exercise their Right of First Refusal, may the company proceed to offer the NLEX shares to other interested buyers, bearing in mind the requirement that 10 percent thereof must be set aside to small local investors, as per EO No. 323, s. 2000.”

However, Remulla said PrC’s memorandum failed to observe the requirement under RAs 7181, 7661, and 7886.

“From the foregoing, it is thus evident that the clear intent of the law is to make an initial offer of ten percent [10%] of the sale of assets in corporate form, i.e., shares of stock, to small local investors, before offering the same to large investors,” the DOJ said.

“Per the aforesaid issuances the proper procedure to be observed is for ten percent [10%] of the NLEX shares to be offered to small local investors, prior to the exercise of the Right of First Refusal by the shareholders of the NLEX Corporation,” it added.

The DOJ, however, pointed out that at present there are no clear guidelines on how such preference to small local investors will be pursued.

Thus, the justice department recommended that the PMO immediately come up with its guidelines providing the manner in which assets in corporate form are to be offered to small investors, including the period as to when the said offer will lapse.

Remulla said this is in line with Section 2(f) of RA 7886 which states that “the Committee on Privatization shall formulate guidelines that provide specific preference for such small investors.”

“Nearly halfway through the year, the significant rise in confiscated illegal vapes demonstrates our unwavering commitment to safeguard Filipino consumers, especially our youth. These results

DTI said among the confiscated brands were 2,428 units of RELX worth P534,190, and 158 units of Waka by RELX worth P35,440.

In March 2024, the DTI suspended the

DTI stressed that this is a clear violation of the law which prohibits the sale of vapes within 100 meters of any areas frequented by minors.

Since the Vape Law implementation, the DTI has already seized a total of 67,010 vape units from various brands, amounting to P31.33 million.

bilateral relations.

MMDA prepares rain shelters, repair shops for riders

SOON, motorcycle riders can seek shelter during heavy downpours in select areas, along three major thoroughfares in Metro Manila, by using emergency laybys and bicycle repair shops.

This was announced by acting Chairman Romando Artes of the Metropolitan Manila Development Authority (MMDA) during the inspection of the proposed motorcycle lay-by at the ground level of Quezon Avenue flyover in Quezon City.

“The establishment of emergency lay-bys along major thoroughfares aims to provide temporary shelter for motorcycle riders during rains,” said Artes, adding that the agency came up with a solution to address the plight of motorcycle riders in times of heavy rainfall when they have to stop in the middle of the road to wait out the downpour.

He also mentioned that Party-list Rep. Rodge Gutierrez of 1-Rider wrote a letter to the agency last week, asking for the status

of motorcycle rain shelters as promised by the MMDA.

“The data requested would aid us in determining the required legislation to assist the MMDA and local governments regarding the traffic situation in our country,” said Gutierrez, in his letter dated May 21.

Artes said the MMDA targets to establish at least 14 motorcycle lay-bys under flyovers located along Edsa, C5 RoaD and Commonwealth Avenue. These are expected to be opened to the public in July.

The emergency lay-bys havedesignated spaces for motorcycles and bicycles and have entrance and exit signs.

Bonifacio Bosita of 1-Rider, who was also present during the inspection, thanked the MMDA for heeding their request.

“Kamiposa1-Rider Party-list [group] ay nagpapasalamatkay[We at 1-Rider] thank] Chairman Ar tes ng MMDA. Dininig niya ang mga hinaing at pangangailangan ng

mga [He listened to the complaints and needs of the] riders Umaasa po tayo na angmgakapatidnating [Rest assured that our br other] riders ay makikipag[will]cooperate sa [the] MMDA sapamamagitan ng pagrespeto sa kanilang [by respecting their] tr affic enforcers at pagsunod sa batas-trapiko [and obedience to traffic la ws,” Bosita said.

Motorcycle taxi ride-hailing service Angkas will donate 10 bicycle repair shops which will be equipped with basic repair and vulcanizing tools.

“We have trained MMDA personnel who will assist motorcycle riders and cyclists who need road emergency assistance,” said Artes.

Once the emergency lay-bys and bicycle repair shops become available in July, the MMDA

“With the launch of Task Force Kalasag this year, we are intensifying consumer protection efforts nationwide. This crackdown on violations of the Vape Law and fair trade laws and regulations assures the public of the DTI’s commitment to a safe and fair marketplace,” Pascual said. The majority of confiscated vape products violated Republic Act 11900, or the Vaporized Nicotine and Non-Nicotine Products Regulation Act, also known as the Vape Law. Specifically, they violated Rule 6, Section 1(j), which strongly prohibits the sale of vape products that are packaged, labeled, presented, and marketed with flavor descriptors or cartoon characters that appeal to minors. Cai U. Ordinario

Group: ‘Collective fishing’ in WPS peaceful assertion of sovereign rights

THE Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) on Sunday said sovereign rights over the West Philippine Sea can be asserted peacefully and independently, citing the successful two-day collective fishing expedition launched by the group on June 1 and 2.

Local affiliates of Pamalakaya in Zambales from the Panatag Fisherfolk Association, Pilipinong Nagkakaisa Para sa Soberaya (P1NAS), Bagong Alyansang Makabayan (BAYAN), and the League of Filipino Students (LFS), conducted a “collective fishing expedition” off Masinloc, Zambales, last week.

While the groups were not able to reach their target fishing destination due to big waves caused by the northeast monsoon, they said they were able to uphold sovereign rights in a form of collective economic activity.

“Totally initiated by Filipino small fishermen and their patriotic advocates, our fishing expedition attests that we can assert our territorial waters without relying on any foreign superpower, more so to provocative militaristic solutions.

Moreover, the expedition was carried out not only to resist China’s unjust fishing ban in the West Philippine Sea, but also to reject the continued US warmongering efforts in our territory,” Fernando Hicap, national chairman of Pamalakaya said in a statement.

“We assert that our territorial waters must remain exclusive for economic activities including but not limited to fishing and trade routes, thus, demilitarization,” says Hicap, a fisherman based in Cavite.

He said the government’s neglect to support Filipino fisherfolk and local scientists to utilize and explore our marine resources in the West Philippine Sea has enabled foreign exploitation and intervention.

Hicap added that there has been no concrete plan on how to modernize and strengthen our local fishing industry to make the most of our fishery resources. Jonathan L. Mayuga

CONGRATULATIONS Chris Coons, the junior US senator from Delaware congratulates newly-elected Senate President Francis Escudero. Escudero attended the dinner tendered by US Ambassador MaryKay Carlson at her residence in honor of Coons. Sen. Loren Legarda also in attended the event. Their conversation revolved around shared values,

SECRETARY Gilbert Teodoro

Garbage crisis looms in Clark, CL

CLARK

By Ashley Manabat

FIELD, Pampanga—A

garbage crisis at the Clark Freeport Zone as well as the rest of Central Luzon and up to the Cordilleras looms with the impending closure of the Kalangitan landfill in Capas, Tarlac, in October.

Some 4,000 tons of garbage, including toxic waste from hospitals, are dumped in the Kalangitan landfill daily.

An estimated 15 million residents of Central and Northern Luzon as well as some 400 hospitals and clinics will be affected by the closure of the landfill.

The Bases Conversion and Development Authority (BCDA) has cited the Build-Operate-Transfer Law in not renewing the service contract of the Metro Clark Waste Management (MCWM), operator of Kalangitan landfill, which expires in October.

During the Balitaan media

forum organized by the Capampangan in Media Inc. (CAMI) at the Bale Balita here lon Friday, MCWMC executive vice president Vicky Gaetos said this is incorrect and are actively pursuing legal action to correct the misconception.

“We have continually invested in increasing our facilities, equipment and capacity to address the growing waste management needs of the Philippines,” Gaetos said. She lamented that MCWM’s applications for an extension of it contract with the Clark Development Corp. have remained pending for several years now.

Gaetos also expressed surprise why the Kalangitan landfill “was suddenly ruled as a build-operatetransfer project by the Office of the Government Corporate Counsel.”

“There was nothing in our contract with CDC that says it is a BOT project,” she said.

“We are proud to have served over 150 local governments and more than a thousand industrial clients,” she added. It was learned that the BCDA is planning to put up a casino-resort site in the area and a golf course in a more than 100 hectare site in the area. The landfill occupies 90 hectares.

The Kalangitan landfill is the only only one of its kind, in the Philippines with the capacity and expertise to dispose of all the waste generated in the region, including treated hazardous and hospital waste coming from all over the country. Among the hospitals that send hazardous waste to the landfill are St. Luke Medical Center and Lung Center of the Philippines, that are both located in Metro Manila.

Also present during the forum were Clark Development Corp vice president for engineering services Terry Tiotuyco and MCWMC technical consultant Red Fuentes.

DA imposes ban on live cattle, meat imports from UK

TTheme-park like township for 10k families in Misamis

By Cai U. Ordinario @caiordinario

THE national government is creating a theme-park inspired development in Misamis Oriental that is envisioned to benefit 10,000 families, the Department of Human Settlements and Urban Development (DHSUD) said.

Housing Secretary Jose Rizalino Acuzar said, the township project being envisioned is composed of several 12-story buildings with commercial shops.

Acuzar, along with other key DHSUD and Social Housing Finance Corporation (SHFC) officials, inspected the Valley View Township in barangay Santa Ana, Tagoloan town.

“This will be our model township Pambansang Pabahay project here in Mindanao. It has a nice, theme-park look open park with green and mountain scenery

around,” Acuzar said.

Under 4PH, Acuzar is advocating for the allocation of substantial open spaces for parks, playgrounds and other common amenities.

“Sa open parks lang nagkakapantay-pantay ang ating mga kababayan mahirap man o mayaman,” Acuzar added. The Valley View Township project is being implemented by SHFC, headed by President and CEO Federico Laxa. It is being supervised by SHFC Vice President for Visayas and Mindanao, Felman Gilbang.

Apart from the project, Acuzar also inspected a second 4PH project in Mindanao that is currently being constructed in Tagoloan. The groundbreaking of the project was conducted in May 2024. Earlier, DHSUD reported 17 ongoing projects under President Marcos’s “Pambansang Pabahay”, which are now in various stages of development and construction.

DTI secures voluntary price freeze commitments for more basic goods

TBy Ada Pelonia @adapelonia

HE Philippines slapped a temporary ban on live cattle and meat imports from the United Kingdom after mad cow disease was detected in Scotland.

Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement that he issued Memorandum Order (MO) 20 to mitigate the spread of mad cow disease.

The World Organization for Animal Health—World Animal Health Information System (WOAH-WAHIS) confirmed the reports. In addition, the UK Chief Veterinary Officer, sent the DA a notification letter on the matter.

“Given the potential risk to the consumers and to protect the local livestock industry which plays a significant role in the Philippine economy and was valued at P260 billion last year, Secretary Tiu Laurel has imposed a temporary import ban emphasizing the importance of precautionary mea -

The DA banned cattle and beef from the UK following reports of classical Bovine Spongiform Encephalopathy (BSE), commonly known as mad cow disease, detected in South Ayrshire, Scotland.

sures to safeguard public health,” the DA said in a statement.

According to DA, the mad cow disease could cause fatal nerve damage in cattle and its entry or possible spread in the country could “undermine the livestock industry and compromise food safety.” It added that the zoonotic disease could cause CreutzfeldtJakob disease in humans and manifest through brain shrinkage and deterioration.

“Imported beef is staple fare in both fast-food and high-end restaurants, and a key ingredient in processed and canned food. Thus, in order to facilitate continuous trade while mitigat -

ing the possible risk of spread of BSE infection, all shipments coming from the United Kingdom that are already in transit, loaded or accepted unto port shall be allowed provided that the products were slaughtered or produced on or before 10 April 2024,” the DA said.

The department added that it would implement more stringent inspections of all arrivals of meat and meat by-products derived from cattle, including live animals and bovine processed animal proteins at the ports of entry, ensuring that only non-infected and safe commodities should enter the country.

Sweden’s smoking rate decline traced to smokeless products

By Lenie Lectura @llectura

SWEDEN is likely to become the first country to achieve smoke-free status, with a smoking rate below 5 percent. Sweden’s public health agency reported that only 5.6 percent of Swedish adults smoked cigarettes in 2022, down from 49 percent of men in 1960. The report titled “No Smoke Less Harm” attributed this achievement to Sweden’s openness to alternative nicotine products and details the significant health benefits associated with the transition.

The report, released by the Stockholm-based advocacy group Smoke Free Sweden, said that combustible cigarettes, not nico -

tine itself, are the primary culprit behind smoking-related illnesses.

“The Swedish experience demonstrates the importance of understanding public misperceptions about nicotine to develop health policies that better protect and inform consumers,” said Dr. Karl Fagerström, a public health expert who contributed to the report.

While nearly one in four Swedish adults still use nicotine daily, in line with European averages, Sweden boasts far lower rates of tobacco-related deaths (44 percent lower), cancer rates (41 percent lower), and cancer deaths (38 percent lower) compared to the rest of the European Union.

Smoke Free Sweden is a movement that encourages other countries to follow Sweden’s lead in to -

bacco harm reduction. Its report appeals for the World Health Organization (WHO) and global public health communities to acknowledge that combustible products, not nicotine itself, cause harm to smokers.

It urges policymakers to acknowledge the potential of tobacco harm reduction (THR) strategies. in cutting harm, regulate nicotine products based on their relative risk profile, encourage healthcare professionals to embrace THR, and empower THR users to advocate for supportive policies.

The report credits the low rate of smoking-related diseases to the Swedes’ preference for alternative smokeless tobacco products like snus, oral nicotine pouches, heated

tobacco products, and vapes.

“While nicotine is addictive, it does not cause the serious diseases associated with smoking,” Fagerström said. “Our findings support a shift in focus from cessation to substitution with less harmful alternatives for those unable to quit completely.”

Sweden has 52 percent fewer tobacco-related male deaths than Poland and 57 percent fewer than Romania. For male lung cancer, Sweden has significantly fewer deaths than France, Germany, Italy and Poland.

According to the report, while smoking is linked to high rates of death and disease, smokeless alternatives, like snus and oral nicotine pouches, don’t pose a similar health risk.

HE Department of Trade and Industry (DTI) has welcomed additional commitments from major manufacturers to implement a voluntary price freeze in support of Filipino consumers amid rising prices of goods and the ongoing El Niño phenomenon.

This builds on the initial success of the voluntary price freeze launched earlier in May. Following a meeting with manufacturers of basic necessities and prime commodities, several companies voluntarily froze prices on select stock keeping units (SKUs) of canned meat, processed milk, and bottled water.

Monde Nissin, Alaska Milk Corporation, Nestlé, NutriAsia Inc., and San Miguel Foods have now joined the growing roster of companies participating in the initiative. This brings the total number of participating manufacturers to eight, with the price freeze now covering a wider range of 31 SKUs.

“The DTI greatly appreciates the efforts of manufacturers to freeze their prices. This collaborative initiative is vital in ensuring that consumers, especially those in areas not under price control, have continued access to basic goods at affordable prices,” said Trade Secretary Fred Pascual.

Additional commitments cover SKUs across six product categories: processed milk, processed canned meat or beef, bottled water, instant noodles, condiments, and coffee.

Notable brands included in the freeze are: Lucky Me! Instant Mami, Liberty Condensada, Alaska Classic Sweetened Condensed Milk, Bear Brand Fortified Powdered Milk Drink, Nestle Carnation Condensada, Datu Puti Soy Sauce, Datu Puti Vinegar, San Mig Coffee 3-in-1 Original, Purefoods Chinese Style Lun-

cheon Meat, and Star Corned Beef. This expansion ensures consumers have continued access to these basic necessities at affordable prices, especially in areas not covered by automatic price freeze measures due to El Niño.

Prior to this initiative, automatic price freeze mechanisms were already in effect in various provinces and municipalities severely impacted by El Niño. An automatic price control freezes the prices of basic necessities for 60 days in areas declared under a state of calamity or emergency as stated in Republic Act No. 7581 or the Price Act, as amended. Complementing governmentmandated price freezes during calamities and emergencies, the DTIled voluntary price freeze initiated by manufacturers to freeze prices of select basic necessities and prime commodities (BNPCs) under DTI’s jurisdiction will last until July 10, 2024, unless otherwise specified in the price guide.

“While the DTI proactively enforces existing price freezes in calamity-stricken areas, we are actively expanding support for Filipino consumers nationwide. We encourage more manufacturers to join the initiative and contribute to mitigating the impact of rising prices on Filipino consumers,” Pascual added as he urged other manufacturers to join the call for collective action in ensuring that every Filipino has access to affordable basic goods.

The DTI regularly updates its price guide, posted on the DTI Consumer Care social media pages, covering goods under the voluntary price freeze. This allows consumers to make informed choices when purchasing these essential goods.

Hot money inflows post lowest level in 6 months

Continued from A1 I n April, BSP said the $914 million registered investments for

KALANGITAN landfill

Solon sounds alarm over aging fishers in PHL

By Jovee Marie N. Dela Cruz @joveemarie

The chairman of the ho use Committee on Aquaculture and Fisheries expressed concern over the increasingly detrimental impact of the Philippines’s aging fishermen population on the nation’s food security.

Bicol Saro Partylist Rep. Brian Raymund Yamsuan, the panel chairman, said on Sunday that the Bureau of Fisheries and Aquatic Resources (BFAR) reported to his committee that of the 2.5 million Filipinos dependent on the country’s oceans and inland water bodies for their livelihood, about 24 percent, or 600,000, are above 60 years old, while another 21 percent, or about 525,000, are aged 51 to 60. Yamsuan said this means that almost half, or about 1.1 million, are aging fishers. Only 8 percent, or about 200,000, are young fish-

ermen aged 21-30, while the rest are 31-40 years old. “While we salute the courage, dedication, and diligence of our fishermen, we are concerned that there may come a time when their numbers will decline unless we act fast to strengthen this sector and encourage the youth to embark on careers in aquaculture and fisheries.”

h e said the “disturbing trend” is reflected in the decline in production in the sector and the country’s growing dependence on fish imports.

In his report during the hearing, BFAR Assistant Director Zaldy Perez said in the first quarter of 2024, fisheries production dropped with a recorded volume of 987,193.69 metric tons (MT), which is 0.52 percent lower than the previous year’s 992,334.28 MT. The observed decline resulted in a decrease of 5,140.59 MT in the volume of locally caught and

Nshould also step up the implementation of its post-harvest and marketing programs for the sector to make fishing and its related activities more appealing and profitable for young Filipinos.

This BusinessMirror file photo shows the catch of the day by fishermen of s an Enrique, Negros Occidental.

produced fish.

The decrease in the sector’s total production is the result of the 8.69 percent contraction of the municipal fisheries subsector, which provides the means of livelihood for small fishers.

h e said the lack of cold storage facilities and reliable means of transport forced fishermen to resort to turning their products into “daing,” or dried fish, instead of storing them in blast freezers and other similar equipment to preserve their quality and extend their shelf life.

to be few takers, despite BFAR’s program, which provides successful applicants with free tuition, a generous monthly stipend, a book allowance, monetary support for thesis and research projects, graduation assistance, and on-the-job training support.

BFAR’s mother agency, the Department of Agriculture (DA), had approved last April the importation of 25,000 MT of frozen fish to ensure sufficient supply of the food ahead of the closed-season fishing ban to be imposed in the last quarter of the year.

Yamsuan said the government

Amid the increasing demand for fish and the decreasing domestic production, the country has relied on imports to fill the supply gap.

Group: Govt must focus on increasing rice production

h e agreed with fellow committee members Batangas Rep. e r ic Buhain and ABONO Rep. Robert Raymund e s trella on the need to beef up the implementation of BFAR’s post-harvest programs for the fisheries sector.

In terms of providing scholarships to attract more young Filipinos to take up careers in the fisheries and aquaculture sectors, Yamsuan noted that there appear

BFAR reported that only 1,384 students so far have been granted scholarships by the bureau. In 2019, out of the 2,354 applicants, only 388 passed the scholarship criteria. In contrast, the Department of Science and Technology (DOST) had close to 80,000 applicants for its science and technology scholarship program last year, of which over 9,000 students passed.

Yamsuan said BFAR should seek the assistance of the congressional districts with coastal communities and launch an information campaign on social media to target more students interested in the scholarship program.

Smuggling of tobacco poses threat to UHC, farmers–BIR

By Ada Pelonia @adapelonia

oN - g Ov eR NM eN T orga-

nization Bantay Bigas said the government should bolster local rice production instead of proposing to reduce tariffs on imports. “Isang maling tunguhin na naman itong proposal ni Finance Secretary Ralph Recto nasatingin niyaaymapapababaangpresyong bigas sa palengke. [Finance Secretary Ralph Recto’s proposal to cut rice tariff to reduce rice prices in the market is wrong],” Cathy e st avillo, Bantay Bigas spokesperson, said in a radio interview.

Para sa Bantay Bigas…walang dapat ibang gawin ang gobyerno kundi palakasin ‘yung ating lokal na produksyon, at kasabay nito ay kailangan mag-subsidize ang gobyernosamgapangangailangan ng magsasaka. [For Bantay Bigas, the government subsidize farmers

to boost local rice production].” e s tavillo issued the statement after Recto said the government is mulling over the reduction in rice tariffs to as much as 17.5 percent to reduce retail prices.

The Philippines imports rice in huge quantities to plug the shortfall in domestic production. The country imported nearly 3.6 million metric tons (MMT) of rice last year, lower than the 3.9 MMT projected by the United States Department of Agriculture (USDA).

The USDA said in a previous report that the Philippines will remain as the world’s top rice importer next year as it is expected to buy 4.2 MMT of the imported staple in 2025.

The Federation of Free Farmers (FFF) had expressed its “vehement” opposition to the government’s plan to cut tariffs on rice imports, noting that previous adjustments in tariffs on rice, corn, and pork did not reduce prices for consumers.

The group added that a P5 per kilo reduction in tariff payments could depress unmilled rice prices by P3 per kilo if imported rice is “dumped” into wholesale markets. This could cause rice farmers to lose some P33 billion in the second half, when they are expected to harvest 11 MMT. “ g o vernment can just buy rice locally or even import—if absolutely necessary—and distribute these to poor consumers through its Kadiwa and other outlets. The private sector can take care of supplying unsubsidized rice to consumers who can afford to buy them. Tariff cuts are not needed since import prices are expected to go down soon anyway, as stated by Secretary Recto himself,” FFF National Manager Raul Montemayor said in a statement.

According to the Department of Agriculture’s (DA) latest price watch report, regular-milled and well milled rice were sold for

Potatoes can improve nutrition, food security–FAO

The Food and Agriculture Organization of the United Nations (FAO) called for more investments that will allow nations to tap into the full potential of potato, an important staple food.

FAO, which recently celebrated the International Day of Potato, highlighted the significant of the crop, which is eaten by over a billion people. It is the also the third most available food crop globally, after rice and wheat.

“The potato has been the most important lifesaving, staple food and nutritious vegetable in the world,” FAO DirectorGeneral Qu Dongyu said in a video message to mark the event, under the theme, h a rvesting diversity, feeding hope.”

Qu added that in e u rope, the increase of potato production after the 16th century following Christopher Colombus’ return from the Americas with the potato, which originated in the Andes, had a dramatic impact on food security.

Participants in a high-level event at

FAO’s headquarters in Rome to mark the day included Angel Manuel Manero Campos, Minister of Agrarian Development and Irrigation of Peru, who spoke about the country’s efforts to ensure its potato producers can obtain a fair price for their crop and Paula Narváez, president of the UN e c onomic and Social Council, who underlined the importance of protecting the potato and its significance for achieving a number of the UN Sustainable Development Goals.

In an earlier special event, speakers from the World Potato Congress, the private sector and the International Potato Center (CIP), shared lessons learned and perspectives on their future work on the potato. This technical panel was convened by Peru—which championed the designation of the International Day by the UN General Assembly last year—with the support of Belgium, Ireland, Italy and the Netherlands. Participants underscored the significant advances in the genetic improvement of the crop and the agronomics as well as the

importance of plant health. They also called for concerted efforts to tackle constraints including pests and diseases, especially in light of climate change pressures and an increasing global population.

Qu highlighted three key aspects of the potato’s relevance in addressing current global challenges, including conflicts, the climate crisis and economic shocks.

For one, FAO noted that the potato contains vital nutrients, and is consumed by more than two-thirds of the world’s population in different forms.

“While many other crops, especially cereals, are not sufficiently resilient to challenges, such as soil degradation and water scarcity, the potato has potential for increased productivity. Farmers in approximately 160 countries now produce almost 400 million tons of potato a year. With 735 million people suffering from hunger, potatoes can have a significant role in improving food security and nutrition.”

Also, the UN agency said the genetic

World crop trade eyes India as new govt may

relax curbs

food and commerce ministries didn’t

AGRICU lT URA l markets

boost local supplies. Rice The nation has banned shipments of

P49.55 per kilo and P51.42 per kilo, respectively, in the National Capital Region.

The Philippines’s unmilled rice production last year reached a record 20.06 MMT, 1.56 percent higher than the 19.756 MMT produced in 2022, according to data from the Philippine Statistics Authority (PSA).

PSA data showed that the rice output in 2023 was boosted by irrigated farmlands which produced 15.279 MMT, 2.2 percent higher than the 2022 volume of 14.938 MMT.

In January, the DA projected flat output growth for rice this year due to e l Niño.

“Technically, if I am not mistaken, our [rice] production for [2023] is 20 million tons and 2024 [production] should be almost the same due to e l Niño,” Agriculture Secretary Francisco P. Tiu Laurel Jr. said in a news briefing in Malacañang.

diversity of potatoes encompasses about 5,000 varieties planted worldwide, yet most of the potatoes produced globally come from a narrow genetic background.

“Tapping the genetic diversity could help address stresses due to climate change, pests and diseases, and also further improve the potato’s nutritional value. This will require strengthening research and development, especially for genetic improvement—using efficiency-enhancing technologies that shorten the plant breeding cycles, and new methodologies for virus-free seed tubers production.”

FAO said the potato offers livelihood opportunities for the many farmers who grow it as a cash crop, and those working along its value chain, especially rural small-scale and family farmers.

h owever, we need to exploit its full potential from production, through processing to consumption. With appropriate technologies and equipment, farmers can minimize inputs, minimize damage to the soil and reduce the loss of crops. Processors can innovate with new functional and healthy products, adding value to products and growing their profit margins.”

broken and white rice, besides imposing a 20-percent tax on the parboiled variety. The move, which has squeezed global supplies and helped boost world prices, was a big blow to some countries in West Africa and the Middle e a st that rely on India for most of their requirements of the food staple.

“Indian rice millers are going to request the new government to allow broken and white rice exports,” said B.V. Krishna Rao, president of the Rice e x porters Association. The industry is fine with a levy, but restrictions should be lifted, he said. Supplies are ample in the country and the forecast of an above-normal monsoon raises

RBy Reine Juvierre Alberto @reine_alberto

AMPANT smuggling of tobacco products, which reduces the excise taxes collected by the national government, puts the funding of universal healthcare and support to local tobacco farmers at risk, according to an official of the Bureau of Internal Revenue (BIR).

BIR e x cise Large Taxpayers Field Operations Division Chief ve nus g aticales told reporters that excise tax collections dropped by P6.6 billion from January to April due to illicit tobacco trade.

The tobacco industry has contributed a total of P46.69 billion, or 40.16 percent, in excise taxes as of April.

g aticales further cited data from the BIR’s collection of excise taxes on tobacco, which declined to P134.874 billion in 2023, down by P25.5 billion or 15.91 percent, from P160.300 billion in 2022.

“That’s how the excise tax on tobacco collection has been greatly affected by the illicit trade.”

The current excise tax on cigarettes is at P62.40 per pack of cigarettes and is set to increase by 4 percent annually under the Republic Act (RA) 11346, or the Tobacco Tax Law of 2019. The BIR is targeting to collect about P325 billion in excise this year. e x cise tax is levied on the production, sale or consumption of a commodity. The revenues collected from the excise tax on tobacco products are allotted for the universal healthcare (U hC ) program and local government units (L g U s) producing burley and native and v i rginia tobacco.

g aticales said the decline in revenues poses a threat to U hC a nd the livelihood of tobacco farmers in the country.

The Department of Finance (DOF) said it will not increase excise taxes, particularly sin taxes, despite the expected drop in revenue collection this year.

g aticales said that apart from the smuggling of cigarettes to the country due to its archipelagic nature, other factors in the decline in excise taxes on tobacco products include the shift of preference from consuming cigarettes to vape products, which is now becoming a trend among the youth.

“The contributions of the excise tax on vapor products, although it almost increased by 100 percent or more, it is not enough to compensate the decrease as far as the cigarette excise tax collection is concerned.”

vape products are also smuggled into the country, further threatening the collection of tax collections, similar to cigarettes.

To combat this, the BIR has ordered the attachment of tax stamps on all imported and locally manufactured vape products sold in the market starting June 1.

The BIR said it imposed the requirement as a way of checking the proper tax compliance of the vape industry.

“The BIR will monitor the internal revenue stamps for the vape industry. If your products do not have any internal revenue stamps by June 1, we will raid your stores and seize the products,” BIR Commissioner Romeo Lumagui Jr. said.

prospects for 2024-25 harvests, Rao said.

Wheat

The industry has been lobbying the government to reduce a 40-percent duty on wheat to make overseas buying viable, something India hasn’t done at large scale since 201718. lo cal supplies have become tighter due to large purchases by state agencies for various welfare initiatives, and retail wheat and flour prices are up about 5 percent from a year earlier. Wheat futures in Chicago have jumped more than 9 percent so far this year. The country needs to import 2 million to 3 million tons of the grain this year from

overseas markets to improve its availability in the domestic market and create a buffer, said Navneet Chitlangia, senior vice president at the Roller Flour Millers’ Federation of India. The US Department of Agriculture’s Foreign Agricultural Service had predicted India wheat imports at 2 million tons in the season that began on April 1 on steady local demand.

Concerns of flour millers and bread makers about dwindling stockpiles will continue for months as sowing for the next crop will begin in October and November, while harvesting will start only in March 2025. Bloomberg News

June 03, 2024

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

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NO. ESTABLISHMENT

1 BANDAI NAMCO PHILIPPINES INC.

Phase 2A, Block 1, Lot 2, JP Rizal Ave., Lima Technology Center, San Lucas, City of Lipa, Batangas

2 DONG-AH GEOLOGICAL ENGINEERING CO., LTD.

Unit 1, The Junction Strip Mall, Carmelray Industrial Park 1, Canlubang, City of Calamba, Laguna

3 DONG-AH GEOLOGICAL ENGINEERING CO., LTD.

Unit 1, The Junction Strip Mall, Carmelray Industrial Park 1, Canlubang, City of Calamba, Laguna

4 HONGTAI TECHNOLOGY INC.

Bldg. B, CCMC Compound, Carmelray Industrial Park II, Punta, City of Calamba, Laguna

5 KIM JOY FISH AND AQUA FARM CORPORATION

No. 88, Purok 1, Tulay Buhangin, Padre Burgos, Quezon

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

TANAKA, HIROTAKA

Manager

Brief Job Description:

Ensure continuous operation of parts production department

CHOI, SANG GIL

Construction Manager

Brief Job Description:

Monitor of Compliance for Construction and Safety regulations

JEONG, GYEYOUNG

Construction Manager

Brief Job Description:

Monitor Compliance for Construction and Safety regulations

LIANG, YONG

Injection Molding Engineer

Brief Job Description:

Responsible to validate the production process and hand over to production department.

QIN, RUIQING

Farm Technical Officer

Brief Job Description:

Support the farm supervisor in coordinating the development and implementation to support agriculture

6 LITTLE V MOBILE TECH INC.

Unit-lower Basement, Andenson Building 3, National Road, Parian, City of Calamba, Laguna CHENG, HAOQI

Chinese Business Consultant

Brief Job Description:

Help business to improve their performance, solve problems and achieve their goals.

LI, ERJUN

7 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

8 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

9 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

10 MERIT LEGEND SOLUTIONS INC.

Chinese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

WANG, SENYANG

Chinese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

LING HOU SHYANG

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite PEH BOON YEH

Customer Service Representative

QUALIFICATION AND SALARY RANGE

Basic Qualification: Must have a bachelor’s degree in any course and must be fluent in Nihongo

Salary Range:

Php 90,000 - Php 149,999

Basic Qualification: With a minimum of (10) years of experience in railway constructions

Salary Range:

Php 60,000 - Php 89,999

Basic Qualification:

With a minimum of (10) years of experience in railway constructions

Salary Range:

Php 60,000 - Php 89,999

Basic Qualification:

Graduate of any technical course

Salary Range:

Php 30,000 - Php 59,999

Basic Qualification:

Can be able to speak and write in Chinese and proven working experience in a farm, ranch or similar agricultural operation

Salary Range:

Php 30,000 - Php 59,999

Basic Qualification: Can speak mandarin, able to work independently and as part of a team.

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 and Malaysian language

Salary Range:

Php 30,000

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

THI NHIEN

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

VAN LUONG

Vietnamese

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite PHAM, THI THU HIEN

Vietnamese Customer Service Representative

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Editor: Angel R. Calso

Netanyahu faces growing pressure at home after Biden’s Gaza proposal

By Sam Mednick & Wafaa Shurafa

TThe Associated Press

EL AVIV, Israel—Israel’s prime minister faced growing pressure Saturday after US President Joe Biden announced a proposed agreement to end the fighting in Gaza, with many Israelis urging Benjamin Netanyahu to embrace the deal but far-right allies threatening to collapse his government if he does.

Netanyahu called a permanent cease-fire in Gaza a “nonstarter” until long-standing conditions for ending the war are met, appearing to undermine the proposal that Biden described as an Israeli one.

A huge demonstration in Israel

on Saturday night, led by families of hostages held by Hamas, urged the government to act now. Mediators the US, Egypt and Qatar pressed Israel and Hamas, saying the proposed deal “offers a road map for a permanent cease-fire and ending the crisis” and gives immediate relief to both hostages and Gaza residents. But far-right Finance Minister Bezalel Smotrich and Minister of National Security Itamar Ben Gvir said they would break up the government if it takes the deal. That could expose Netanyahu to new elections, scrutiny over security failures that led to the war and—if he loses the prime minister post—prosecution on longstanding corruption charges.

Netanyahu’s statement said that “Israel’s conditions for ending the war have not changed: the destruction of Hamas’ military and governing capabilities, the freeing of all hostages and ensuring that Gaza no longer poses a threat to Israel. Under the proposal, Israel will continue to insist these conditions are met before a permanent cease-fire is put in place.”

In a separate statement, Netanyahu accepted an invitation from US congressional leaders to deliver an address at the Capitol, a show of support for Israel while top ally the US shows frustration. No date has been set.

Biden on Friday asserted that Hamas militants are “no longer capable” of carrying out a large-scale

attack on Israel like the one on October 7. He urged Israel and Hamas to reach an agreement to release about 100 remaining hostages, along with the bodies of around 30 more, for an extended cease-fire.

Talks on a deal halted last month after a push by mediators in hopes of averting a full-scale Israeli invasion of Gaza’s southern city of Rafah. Israel says the Rafah operation is key to uprooting remaining Hamas battalions, even as the militants regroup elsewhere in the territory.

Israel on Friday confirmed its troops were operating in central parts of Rafah. Around 1 million Palestinians—almost half of Gaza’s population—have left Rafah, and the UN

World Food Program has called living conditions “horrific and apocalyptic” as hunger grows.

Families of hostages said time was running out.

“This might be the last chance to save lives,” Gili Roman told The Associated Press. His sister, Yarden Roman-Gat, was freed during a weeklong cease-fire in November, but sister-in-law Carmel is still held. “Our leadership must not disappoint us. But mostly, all eyes should be on Hamas,” Roman said.

See, “Netanyahu,” A8

Peo P le protest against Israeli Prime Minister Benjamin Netanyahu's government and call for the release of hostages held in the Gaza Strip by the Hamas militant group in Tel Aviv, Israel on Saturday, June 1, 2024. AP Photo/M AyA Alleruzzo

Chinese defense minister issues stern warning to PHL and Taiwan amid rising tensions with US

By David Rising The Associated Press

SINGAPORE—China’s defense minister on Sunday acknowledged the importance of newly renewed military-to-military communications with the United States as tensions escalate in the Asia-Pacific, while at the same time accusing Washington of causing the friction with its support for Taiwan and the Philippines.

“We will not allow anyone to bring geopolitical conflicts or any war, whether hot or cold, into our region,”

Chinese Defense Minister Dong Jun told the Shangri-La defense forum in Singapore through a translator.

“We will not allow any country or any force to create conflict and chaos in our region,” he added. China has been increasingly assertive in pressing its claim to virtually the entire South China Sea, a k ey global shipping route, which has led to a growing number of conflicts,

most notably with the Philippines, whose ships have been rammed by Chinese vessels and hit with water cannons.

Dong insisted that China’s “strategic culture is anchored in universal love and non-aggression,” before

t hreatening the Philippines, which has grown rapidly pro-American since the election of Ferdinand Marcos Jr. in 2022.

S ince territorial hostilities with China surged last year in the South China Sea, Marcos Jr.'s administration has taken steps to forge new s ecurity alliances with a number of Asian and Western countries and allowed a larger US military presence in m ore Philippine bases under a 2014 defense pact.

Dong accused the Philippines of deliberately provoking China, “emboldened by outside powers.”

China has recognized great restraint in the face of such infringements and provocations,” he said. “ But there is a limit to our restraint.”

US Defense Secretary Lloyd Austin on Saturday said that American s upport for the Philippines was “ironclad” and praised Marcos' Friday speech at the forum as a powerful statement “about how the Philippines is standing up for its sovereign

After a quarter century, Thailand’s LGBTQ Pride Parade is seen as a popular and political success

BBy Jintamas Saksornchai

The Associated Press

ANGKOK—Thailand kicked off its celebration of the LGBTQ+ community's Pride Month with a parade on Saturday, as the country is on course to become the first nation in Southeast Asia to legalize marriage equality.

The annual Bangkok Pride Parade c an filled one side of a major thoroughfare with a colorful parade for several hours in one of the Thai capital’s busiest commercial districts. Pride Month celebrations have been endorsed by politicians, government agencies and some of the country's biggest business conglomerates, which have become official partners or sponsors for the celebration.

Ann "Waaddao" c h umaporn, who has been organizing Bangkok Pride since 2022, said in a recent interview with The Associated Press that she hopes the parade can be “a platform that allows everyone to call out for what they want and express who they really are.”

Waaddao thinks Thai society has shifted a lot from a decade ago, and the issue has now become a fashionable social and business trend.

Thanks in part to her work, a marriage equality bill granting full legal, financial and medical rights for marriage partners of

any gender could become reality sometime this year.

But the public celebration of gender diversity was not always so popular in Thailand despite its long-standing reputation as an LGBTQ+ friendly country.

The first big celebration for the community in Thailand was held on Halloween weekend in 1999 and called the "Bangkok Gay Festival." It was organized by Pakorn Pimton, who said that after seeing Pride parades on his overseas travels, he wanted Thailand to have one, too.

It was hard organizing such an event back then, when Thai society was much less open, he said.

e v eryone told me, even my boyfriend, that it would be impossible," he said in an interview with AP.

Organizing such an event in a public space requires permission from authorities, and it didn’t go that smoothly for Pakorn, yet he eventually pulled it off.

Pakorn said some police officers treated him well, but there were others who gave him dirty looks, or were dismissive. He recalled hearing one officer say, “Why do you even need to do this? These katoey...”

“Katoey,” whose rough equivalent in e nglish would be “ladyboy,” has generally been used as a slur against transgender women or gay men with feminine appearances, al -

though the word now has been claimed by the community.

After getting the permit, Pakorn, who then was actively working in show business, said he tried contacting television stations for advertising and finding sponsors for his project, but they all rejected him.

“There were no mobile phones, no Facebook, no nothing. There were only posters that I had to put up at gay bars,” he said.

Because of that, Pakorn said, he was bewildered to see thousands of people, not only Thais but many foreigners, take to downtown Bangkok's streets for that first celebration in colorful and racy costumes, carrying balloons and dancing on fancy floats.

The event got attention from both domestic and international media as both Thailand's first gay parade and one of the first in Asia. It was described as energetic and chaotic, not least because the police did not completely close it off from traffic, resulting in marchers, dancers and floats weaving their way through moving buses, cars and motorbikes.

Pakorn organized it for several more years but eventually stopped.

Only recently did the political significance behind the term "Pride" gain much importance in the event, said Vitaya Saeng-Aroon, director of an advocacy group Diversity In Thailand. Previously, there were not a lot of orga -

nized LGBTQ+ communities who joined in, “so there were no messages in the parade. It became like a party just for fun,” he said.

Now the parade carries a more political tone because the observance has been organized by people like Waaddao who have long worked to raise awareness on gender equality and diversity.

For her part, Waaddao said she became inspired to organize the parade after taking part in the youth-led pro-democracy protests that sprang up across the country in 2020. She said she had previously been carrying out her advocacy work mostly in conference rooms, but those protests convinced her that street action can also advance a political agenda.

Although the pro-democracy movement lost steam due to the coronavirus pandemic and repression, Waaddao decided to continue the struggle for equal marriage and gender equality, ushering in a new era for Pride activities in 2022.

That was the year that several draft bills for marriage equality or civil partnership were introduced in Parliament. Although none managed to pass during the government then in power, a marriage equality bill sponsored by the current administration is expected to get through second and third readings by the Senate later this month, its last legislative hurdle before getting royal endorsement and becoming law.

r ights under international law.’

Austin also stressed the significance of renewing military-to-military communications between China a nd the US to avoid “misperceptions” and prevent “miscalculations.”

“There are a number of things that can happen at sea or in the air, we recognize that,” he said. “But our goal is to make sure that we don’t allow things to spiral out of control unnecessarily.”

Dong is a former naval commander who was appointed in late December after his predecessor, Li Shangfu, w as abruptly removed from office.

Dong met with Austin on Friday on the sidelines of the Singapore forum, which were the first in-person t alks between top Chinese and American defense officials since contacts b etween the two countries' militaries broke down in 2022 after then-US House Speaker Nancy Pelosi visited Taiwan, infuriating Beijing.

China regards Taiwan as a renegade province that must come un -

der its control, by force if necessary.

T he US, like most countries, does not have formal diplomatic ties with Taiwan but is bound by its own laws to provide the island with the means to defend itself. Washington is Taiwan's biggest provider of military h ardware and congressional delegations regularly visit Taiwan’s leaders. D ong said China remains "open to exchanges and cooperation with the US military," but added "this requires efforts from both sides." He accused the US of emboldening Taiwan’s new government, which re fuses to accept Beijing's insistence that the island is part of China, of “pursuing separation in an incremental way.”

“ We will take resolute actions to curb Taiwan independence and make sure such a plot never succeeds," he said. “Anyone who dares to separate Taiwan from China will only end up in self-destruction.” AP reporter Ken Moritsugu contributed to this story from Hong Kong.

Zelenskyy accuses China of assisting russia in sabotaging swiss peace talks on Ukraine

By David Rising The Associated Press

INGAPORE—Ukrainian Presi -

Sdent Volodymyr Zelenskyy accused China of helping Russia to disrupt a Swiss-organized peace conference on the war in Ukraine, speaking at Asia's premier security conference on Sunday.

In a news conference at the Shangri-La defense forum in Singapore, Zelenskyy said that China is pressuring other countries and their leaders not to attend the upcoming talks.

“Russia, using Chinese influence in the region, using Chinese diplomats also, does everything to disrupt the peace summit,” he said, according to a simultaneous translation of his remarks. “Regrettably this is unfortunate that such a big independent powerful country as China is an instrument in hands of Putin.”

In a speech earlier in the day, Zelenskyy urged top defense officials to attend the upcoming summit, saying he was disappointed at the failure of some countries to commit to joining.

an interpreter. "We truly count on you supporting this summit, and that you will be present in Switzerland."

Continued from A7

Families described an aggressive meeting Thursday with Israel’s national security adviser, Tzachi Hanegbi, who told them the government wasn't ready to sign a deal to bring all hostages home and there was no plan B. Many hostages’ families accuse the government of a lack of will.

“We know that the government of Israel has done an awful lot to delay reaching a deal, and that has cost the lives of many people who survived in captivity for weeks and weeks and months and months,” Sharone Lifschitz said. Her mother, Yocheved, was freed in November but her father, Oded, is still held.

The first phase of the deal described by Biden would last for six weeks and include a “full and complete cease-fire,” a withdrawal of Israeli forces from all densely populated areas of Gaza and the release of a number of hostages, including women, older people and the wounded, in exchange for the release of hundreds of Palestinian prisoners.

The second phase would include the release of all remaining living hostages, including male soldiers, and the withdrawal of Israeli forces from Gaza. The third phase calls for the start of a major reconstruction of Gaza, which faces decades of rebuilding from the war’s devastation.

Biden acknowledged that keeping the proposal on track would be difficult, with “details to negotiate” to move from the first phase to the second. Biden said if Hamas fails to fulfill its commitment under the deal, Israel can resume military operations.

Hamas has said it viewed the proposal “positively” and called on Israel to declare an explicit commitment to an agreement that includes a permanent cease-fire, a complete withdrawal of Israeli troops from Gaza, a prisoner exchange and other conditions.

In Deir al-Balah, where many Palestinians have fled following Israel's assault on Rafah, there was some hope.

“This proposal came late, but better late than never,” said Akram Abu Al-Hasan.

The main difference from previous proposals is the readiness to stop the war for an undefined period, according to analysts. It leaves Israel the option to renew the war and diminish Hamas’ ability to govern, but over time, said Michael Milshtein, head of the Palestinian Studies Forum in Dayan c e nter at Tel Aviv University.

“It was a very good speech...it seems that Biden is trying to force it on the Israeli government. He was clearly speaking directly to the Israeli people,” said Gershon Baskin, director for the Middle e a st at the International c o mmunities Organization.

Also on Saturday, e g ypt’s state-run AlQahera News said officials from e g ypt, the United States and Israel would meet in c ai ro over the weekend about the Rafah crossing, a crucial aid entry point that has been closed since Israel took over the Palestinian side in May. e g ypt has refused to open its side, fearing the Israeli control will be permanent.

Hamas’ attack on October 7 killed around 1,200 people—mostly civilians—and abducted about 250. More than 36,370 Palestinians have been killed in Gaza by Israel's offensive, according to Gaza's Health Ministry. Its count doesn’t differentiate between civilians and combatants. Shurafa reported from Deir al-Balah, Gaza Strip. David McHugh in Frankfurt, Germany, and Samy Magdy in Cairo contributed to this report.

Chinese Defense Minister Dong Jun spoke earlier in the day at the Shangri-La conference but he did not appear to be in the room when Zelenskyy made his appeal.

Zelenskyy said that Ukraine had proposals to make at the summit as a basis for peace, addressing nuclear security, food security, the release of prisoners of war and the return of Ukrainian children abducted by Russia.

“Time is running out, and the children are growing up in the Putin-land where they are taught to hate their homeland,” he said.

At the same time, Zelenskyy said Ukraine is "ready to hear various proposals and thoughts that lead us ... to an end of the war and a sustainable and just peace."

The greater the participation, the more likely it will be that Russia will have to listen, he said.

“The global majority can ensure with their involvement that what is agreed upon is truly implemented,” he said.

Zelenskyy said he planned to meet one-on-one with Singapore's prime minister and would urge him to participate in person in the Switzerland talks.

“The same goes for the countries in the region,” Zelenskyy said through

Singapore Defense Minister Ng Eng Hen, who shared the stage with Zelenskyy, did not say whether his country’s leaders would attend, but did note Singapore had condemned the invasion and provided Ukraine with military ambulances.

“We stand with you, and I think your appearance at this Shangri-La Dialogue is the epitome of what we are all hoping for, a rules-based order that guarantees the security and survival of large nations and small,” he said.

Earlier in the day in his own address to the forum, Dong did not specifically mention the Switzerland meetings, but did say “on the Ukraine crisis, China has been promoting peace talks with a responsible attitude.”

He added that China had not provided weapons to either side of the conflict.

“We have never done anything to fan the flames,” he said. “We stand firmly on the side of peace and dialogue.”

US Defense Secretary Lloyd Austin also attended the conference and sat in the front row as Zelenskyy talked. In an address Friday, Austin told the group that "Putin's war of aggression has provided us all with a preview of a world that none of us would want.”

“We’ve all been inspired by the

C H i na’s Defense Minister Dong Jun speaks during the 21st shangri-La Dialogue summit at the shangri-La Hotel in singapore on sunday, June 2, 2024. AP

OTO/

WHO member countries approve steps to bolster health regulations to better brace for pandemics

GENEVA—The World Health Organization said me mber countries on Saturday a pproved new steps to improve global preparedness for and response to pandemics like Covid-19 and mpox, and set a new deadline for agreeing on a broader treaty.

Countries agreed by consensus to amend the International Health Regulations, which were last changed in 2005, such as by defining the term “pandemic emergency” and helping developing countries to gain better a ccess to financing and medical products, WHO said. The move came as the U.N. agency ended its six-day World Health Assembly this year, after plans to adopt a more sweeping pandemic “treaty” at the meeting was shelved largely over disagreements between

developing countries and richer ones about better sharing of technology and the pathogens that trigger outbreaks. But countries agreed to complete negotiations on the pandemic accord within the year, “at the latest,” WHO said. “The success of the IHR amendments demonstrates that in ou r divided and divisive world, countries can still come together to find common cause a nd common ground,” Director-General Tedros Adhanom G hebreyesus said. Lawrence Gostin, a public health law expert at Georgetown University, hailed a “big w in for health security,” and posted on X that the move “will simplify negotiations for the pandemic agreement.”

WHO said countries have defined a pandemic emergency as a communicable disease that has a “wide geographical spread” or

a high risk of one, and has exceeded or can exceed the ability of national health systems to respond. It’s also defined as an out -

break that has or could cause substantial” economic or social disruption and requires q uick international action, the agency said.

Party that freed South Africa from apartheid loses 30-year majority in landmark election

By Gerald Imray & Mogomotsi Magome

JThe Associated Press

oh A NNES b U r G t h e African National c o ngress party lost its majority in a historic election result Saturday that puts South Africa on a new political path for the first time since the end of the apartheid system of white minority rule 30 years ago. With more than 99 percent of votes counted, the once-dominant AN c ha d received just over 40 percent in Wednesday’s parliamentary election, well short of the majority it had held since the all-race vote of 1994 that ended apartheid and brought it to power under Nelson m a ndela.

t h e final results are still to be formally declared Sunday by the Independent Electoral c o mmission, but the AN c cannot pass 50 percent and an era of coalition government—also a first for South Africa—is looming.

t h e AN c remains the biggest party despite a staggering loss of support since the last election in 2019 as South Africa struggles with deep poverty and inequality. t h e country has one of the highest unemployment rates in the world and voters also blamed the AN c for shortages of clean water, electricity, housing and other services.

t h e AN c will now likely need to look

for a coalition partner or partners to remain in the government and reelect President cy ril r am aphosa for a second and final term. Parliament must meet to elect the South African president within 14 days after the election result is declared.

t h e way to rescue South Africa is to break the AN c s majority and we have done that,” said John Steenhuisen, the leader of the main opposition d e mocratic Alliance party. Julius m a lema, the leader of the Economic Freedom Fighters opposition party, said that the AN c s “entitlement of being the sole dominant party” was over. t h e way forward could be complicated for Africa’s most advanced economy, and there’s no coalition on the table yet. t h e three main opposition parties and many more smaller ones were in the mix as the bargaining begins.

“We can talk to anybody and everybody,” AN c c hai rman Gwede m an tashe said on national broadcaster SA b c Steenhuisen’s d e mocratic Alliance received around 21% of the vote. t h e new m K Party of former President Jacob Zuma, who has turned against the AN c he once led, was third with just over 14 percent of the vote in the first election it has contested.

t he Economic Freedom Fighters was fourth with just over 9 percent.

m o re than 50 parties contested the election, many of them winning tiny shares, but the three main opposition parties appear to be the most obvious for the AN c to approach.

Electoral commission c hai rman m os otho m o epya said it was a time for everyone to keep calm “and for leaders to lead and for voices of reason to continue to prevail.”

t h is is a moment we need to manage and manage well,” he said.

Steenhuisen said his party is open to discussions with the AN c a s did m a lema. t h e m K P arty said one of their conditions for any agreement was that r am aphosa is removed as AN c leader and president. t hat u nderlined the fierce personal political battle between Zuma, who resigned as South African president under a cloud of corruption allegations in 2018, and r am aphosa, who replaced him. We are willing to negotiate with the AN c , b ut not the AN c of cy ril r am aphosa,” m K Party spokesperson Nhlamulo Ndlela said.

m K and the far-left Economic Freedom Fighters have called for parts of the economy to be nationalized.

t h e centrist d e mocratic Alliance, or dA , is viewed as business-friendly. Analysts say an AN c- dA co alition would be more welcomed by foreign investors.

dA ha s been the most critical op -

position party for years and doesn’t share the AN c s pro- r u ssia and proc h ina foreign policy. South Africa takes over the presidency of the Group of 20 industrialized and emerging-market nations next year.

An AN c- dA c oalition “would be a marriage of two drunk people in Las Vegas. It will never work,” Gayton m c Kenzie, the leader of the smaller Patriotic Alliance party, told South African media.

dA s ays an AN c- m K-EFF agreement would be a “doomsday coalition” given m K and EFF are made up of former AN c f igures and would pursue the same failed policies.

t h e three opposition parties had a combined share that was bigger than the AN c , but they are highly unlikely to all work together. t h e dA w as also part of a preelection agreement with other smaller parties to potentially form a coalition.

Amid it all, there was no sense of celebrations from ordinary South Africans, but rather the realization that a rocky political road was ahead. t h e d aily m averick newspaper had a South African scratching his head with the words: “What d o es It m e an For o u r Future?” on its front page. t h e d i e b u rger newspaper led with an image of about a dozen political parties’ logos going into a meat grinder.

Panama prepares to evacuate first island in face of rising sea levels

By Matías Delacroix & Juan Zamorano The Associated Press

GWHO legal officer Steven Solomon said the move to revise the health regulations does not take effect immediately, but will come into force a year after Tedros formally notifies countries of the decision.

AP

Gardi Sugdub is one of about 50 populated islands in the archipelago of the Guna Yala territory. It is only about 400 yards (366 meters) long and 150 yards (137 meters) wide. From above,

it’s roughly a prickly oval surrounded by dozens of short docks where residents tie up their boats. Every year, especially when the

A r d I S UG d U b, P anama— o n a tiny island off Panama’s c a ribbean coast, about 300 families are packing their belongings in preparation for a dramatic change. Generations of Gunas who have grown up on Gardi Sugdub in a life dedicated to the sea and tourism will trade that next week for the mainland’s solid ground. t h ey go voluntarily—sort of. t h e Gunas of Gardi Sugdub are the first of 63 communities along Panama’s c a ribbean and Pacific coasts that government officials and scientists expect to be forced to relocate by rising sea levels in the coming decades. o n a r ecent day, the island’s Indigenous residents rowed or sputtered off with outboard motors to fish. c hildren, some in uniforms and others in the colorful local textiles called “molas,” chattered as they hustled through the warren of narrow dirt streets on their way to school. “We’re a little sad, because we’re going to leave behind the homes we’ve known all our lives, the relationship with the sea, where we fish, where we bathe and where the tourists come, but the sea is sinking the island little by little,” said Nadín m o rales, 24, who prepared to move with her mother, uncle and boyfriend. An official with Panama’s ministry of housing said that some people have decided to stay on the island until it’s no longer safe, without revealing a specific number. Authorities won’t force them to leave, the official said on condition of anonymity to discuss the issue.

strong winds whip up the sea in November and d e cember, water fills the streets and enters the homes. c l imate change isn’t only leading to a rise in sea levels, but it’s also warming oceans and thereby powering stronger storms.

t h e Gunas have tried to reinforce the island’s edge with rocks, pilings and coral, but seawater keeps coming.

“Lately, I’ve seen that climate change has had a major impact,” m o rales said.

“Now the tide comes to a level it didn’t before, and the heat is unbearable.”

t h e Guna’s autonomous government decided two decades ago that they needed to think about leaving the island, but at that time it was because the island was getting too crowded. t h e effects of climate change accelerated that thinking, said Evelio López, a 61-year-old teacher on the island.

h e p lans to move with relatives to the new site on the mainland that the government developed at a cost of $12 million. t h e concrete houses sit on a

grid of paved streets carved out of the lush tropical jungle just over a mile (2 kilometers) from the port, where an eight-minute boat ride carries them to Gardi Sugdub.

Leaving the island is “a great challenge, because more than 200 years of our culture is from the sea, so leaving this island means a lot of things,” López said. “Leaving the sea, the economic activities that we have there on the island, and now we’re going to be on solid ground, in the forest. We’re going to see what the result is in the long run.”

Steven Paton, director of the Smithsonian Institution’s physical monitoring program in Panama, said that the upcoming move “is a direct consequence of climate change through the increase in sea level.”

t h e islands on average are only a half-meter above sea level, and as that level rises, sooner or later the Gunas are going to have to abandon all of the islands almost surely by the end of the century or earlier.” Juan Zamorano reported from Panama City.

grave

burial at the Cipenjo Cemetery in Bogor, West Java, Indonesia on July 14,

Yuanqiong Hu, a senior legal and policy adviser at Doctors without Borders, said that the c hanges adopted Saturday include “important provisions addressing equity in access to health products during global health emergencies.”

PENCAS Act: A landmark legislation that embraces natural capital accounting editorial

ThE signing of Republic Act 11995, also known as the Philippine Ecosystem and Natural Capital Accounting System (PENCAS) Act, marks a significant milestone for the country in recognizing and valuing our natural resources. This landmark legislation establishes a comprehensive information system and accounting framework that considers the role of our natural capital and its impact on the economy. Alongside this development, the Department of Environment and Natural Resources launched the Sukat ng Kalikasan (Measurement of Nature) framework and toolkit, further enhancing the country’s ability to measure its ecological, socio-economic, and cultural values. (Read the BusinessMirror story: “Measuring PHL’s rich biodiversity,” June 2, 2024).

The Philippines is one of the 18 mega-biodiverse countries in the world, housing two-thirds of the Earth’s biodiversity and a substantial portion of the world’s plant and animal species. However, unchecked development and resource exploitation have led to a rapid rate of biodiversity loss, making it crucial to protect and preserve the country’s ecosystems. The PENCAS Act serves as a tool for determining the contributions of these ecosystems to economic development, fostering a science-based approach to natural resource management and enhancing climate and disaster resilience.

The PENCAS Act mandates the Philippine Statistics Authority (PSA), Department of Agriculture (DA), DENR, and the Department of Science and Technology (DOST) to establish an accounting system that assigns value to the country’s ecosystem and natural capital. This system will enable the inclusion of natural resources in economic equations, similar to the way goods and services are accounted for in the gross domestic product (GDP).

The Sukat ng Kalikasan framework and toolkit complement the PENCAS Act by providing a comprehensive method to measure the country’s ecological, socio-economic, and cultural values. Developed collaboratively by the United States Agency for International Development and national government agencies, including the DENR, the toolkit enhances the accuracy of conservation target determination and ecosystem service measurement. By combining the implementation of PENCAS with the Sukat ng Kalikasan framework, the country aims to achieve more effective natural resource management, reduce biodiversity loss, increase private sector engagement and investment, and build resilient communities.

The signing of the PENCAS Act has garnered positive responses from various stakeholders. Gerry Arances, Executive Director of the Center for Energy, Ecology, and Development (CEED), welcomes this legislation as a crucial step towards protecting the country’s ecosystems and strengthening climate resilience. Arances emphasizes the need for meaningful community and citizen participation in policy and decision-making processes, urging the government to revise policies and guidelines to align with sustainable options such as renewable energy.

Similarly, anti-mining group Alyansa Tigil Mina highlights the importance of accounting for natural resources, particularly in the mining industry. They emphasize the necessity of determining the social and ecological costs associated with mining activities, enabling a more comprehensive cost-benefit analysis. They call for the alignment of DENR monitoring, assessment, and audit processes with the indicators and standards set by PENCAS, emphasizing the need for local governments to consider resource valuation in land use planning and decision-making regarding mining projects.

The Asean Center for Biodiversity commends the Philippines for this milestone legislation, recognizing its significance within the Asean region and its alignment with the UN Global Biodiversity Plan. By integrating biodiversity and its multiple values into policies and development processes, the country can contribute to healthy and robust economies while protecting its natural resources. The ACB emphasizes that the effective implementation of PENCAS will require a wholeof-society and whole-of-government approach, and stands ready to support the Philippines in this endeavor.

The signing of the PENCAS Act and the launch of the Sukat ng Kalikasan framework represent a critical turning point for the Philippines. Of course, the true test will be in how effectively they are implemented in the years ahead. As civil society groups have rightly pointed out, the government must ensure meaningful public participation and align its policies and practices to truly reflect the value of natural capital.

BusinessMirror

June is for Mother Earth

FRISING SUN

iNAlly, June arrives. School is out, and PAGASA has declared the beginning of the rainy season. however, the temperature remains high, and people continue to flock to the beach, especially the students who have just finished their classes.

June is full of promise, with fun holidays, adventures with family and friends, and plenty of opportunities to keep everyone entertained while building a deeper connection with nature. Yes, June is for the environment, and it’s the perfect time to deepen our commitment to preserving our planet.

Proclamation 237, s. 1988, declares June as Environment Month to focus on protecting and conserv-

ing the country’s natural resources. For this month, one of the first significant dates to mark on the calendar is World Environment Day on June 5. Established by the United Nations in 1974, this day aims to encourage worldwide awareness and action for the protection of our environment.

There are local cleanup events and tree-planting activities to join, or one can also choose to start a

home garden or cultivate an existing one. These activities not only keep our communities beautiful but also teach us, especially the young, the importance of environmental stewardship.

On June 8, the world celebrates World Oceans Day, a United Nations initiative. This celebration highlights the critical role that our oceans play in sustaining life on Earth. It’s another excellent opportunity for families and groups to learn about marine ecosystems and the threats they face, such as plastic pollution and overfishing.

Families and groups can bond during beach cleanup events, snorkeling or diving trips, or fun visits to a local aquarium, lakes, rivers, or the deep blue sea, to marvel at the glorious diversity of marine life. It is expected to foster a sense of wonder and respect for the ocean and, hopefully, promote lifelong conservation habits.

On June 22, we celebrate World Rainforest Day, a reminder of the im-

portance of rainforests to global biodiversity and climate health. Rainforests are often referred to as the lungs of the Earth, producing oxygen and absorbing carbon dioxide, thus playing a crucial role in mitigating climate change. Again, families and groups of friends or co-workers can celebrate this day by learning about the various species in our rainforests, including the native trees that grow in our local forests. These events are not just our chance to have fun in the extended summer months, they also serve as wonderful opportunities to instill values of environmental consciousness and responsibility. We can turn June into a month of environmental learning and growth.  Our children—truly the beneficiaries of all these efforts—will be encouraged to understand and cherish the natural world so they can develop a lasting appreciation for the environment and a commitment to protecting it.

Congressman Salceda’s insights to move the country forward

iLITO GAGNI

T would do well for the country’s top officials to listen to the voice of Congressman Joey Sarte Salceda, the chairman of the house Ways and Committee, for the powerful insights that he comes up with to address issues that plague the economy, from power rates to decent retirement for our workers.

Salceda’s take on the economy and how it can move forward, even in the worst of crises such as the Covid-19, are gems of wisdom that bristle with data culled from the bowels of the Philippine Statistics Authority, the Bangko Sentral ng Pilipinas, and even from GCash accounts. I am privileged to hear his views on the economy from the select circle of financial analysts, the stock market brokers, businessmen of various persuasions, journalists that meet every fortnight at the Westin Hotel. His views on the power sector, for instance, is laden with out-of-thebox thinking and is sprinkled with new ways of looking at the problem and providing the solution. In fact, he has come up with an intuitive proposition that marries two disparate issues, that of the energy prices and higher wages.

In a presentation he made before the Monday Circle, he said minimum wages can be increased if power costs can be reduced to P7 per kilowatthour. For him, a minimum wage of,

say P1,000, can already provide for a decent life for a median Filipino worker and allow him to have savings that can propel the economy further.

His proposal will surely result in howls of protest from businesses in the country. But for Congressman Salceda, that is possible by way of giving back to the businesses a sort of tax rebate where they can have enhanced tax deductions that will shoulder their increased wage expenditures. That will allow our Filipino workers “decent retirement,” he said.

One aspect of his presentation that led to a thumbs-up from Ambassador Rey Catapang was the rehabilitation of the Agus-Pulangi Hydropower Complex, which during its heyday, practically created a steel refining industry for the country. Salceda said this can be done by extending the corporate life of the Power Sector Assets and Liabilities Management (PSALM).

The Agus-Pulangi hydropower plant can be rehabilitated by hooking it up to PSALM, a government vehicle

“For the sake of industrial growth and industrial peace, we must make food cheap,” according

Salceda. This problem is currently being addressed, and there is hope that the legislative process for the enactment of the Livestock, Poultry, Dairy, and Corn Competitiveness Act will yield positive results soon. This is a pet project close to Salceda’s heart, one he strives to see brought to fruition before his departure from Congress.

that assumed the loans and losses of the then National Power Corp, and having their assets privatized.

“PSALM was able to reduce the country’s power sector liabilities from a peak of P1.3 trillion to just P276 billion today,” Salceda said, adding that “it is one of the country’s greatest fiscal success stories.”

“I trace much of the country’s power sector woes to the mothballing of the Bataan Nuclear Power Plant without putting up new plants to make up for the deficiency. That mistake snowballed into expensive Independent Power Producers (IPP) contracts, which has led to the structurally expensive power cost we see today,” he said.

Salceda also has an interesting proposal to make real wages high for the workers. To him, easing the pressure on calls for legislated wage hikes is to keep food prices cheap. Food price inflation, almost exclusively rice inflation, accounts for

about 57 percent of price increases. He said “for the sake of industrial growth and industrial peace, we must make food cheap. The country now also has to deal with the world’s most expensive sugar prices, which has “locked us out of a large food manufacturing sector.” Another issue that he believes can make a difference in the life of every Juan is to ensure that meat prices become less expensive.

“For the sake of industrial growth and industrial peace, we must make food cheap,” according to Salceda. This problem is currently being addressed, and there is hope that the legislative process for the enactment of the Livestock, Poultry, Dairy, and Corn Competitiveness Act will yield positive results soon. This is a pet project close to Salceda’s heart, one he strives to see brought to fruition before his departure from Congress. The proposed legislation, now being discussed at the technical working group panel, seeks to harmonize our livestock programs and agencies, invest in our domestic corn sector, and liberalize the corn value chain. This is deemed crucial in addressing the current price woes on meat. Salceda has the numbers on the livestock, poultry, dairy and corn investments. “Every taxpayer peso invested in the palay sector yields P15.17 worth of production. For livestock, that ratio is P48.90, and for domestic corn, it is much higher at P77.” When the Competitiveness Act is passed, Salceda believes that food will become cheaper and investment in agriculture will exponentially increase.

Atty. Jose Ferdinand M. Rojas II

Glacier speed

The Eddie Garcia Law THE PATRIOT

IDennis gorecho

KuwEnTOng KuLE

MET Eddie Garcia, colloquially known as Manoy, in gala screenings of several films in the Cinemalaya Philippine Independent Film Festival, including those where he won Best Actor thrice:  ICU Bed#7 (2005), Bwakaw (2012), and ML (2018).

In ICU Bed #7 during the first Cinemalaya in 2005, Garcia played the lead role of an elderly man who is coming to terms with his mortality. He is a stubborn, loud-mouthed patriarch who has a terrible illness, while his daughters are torn whether to end or prolong his life.

In Bwakaw (2012), Garcia stars as a lonely gay man in his 70s who cares for a stray dog he named Bwakaw. Upon the dog’s death, he has found a new appreciation for life and what is most important. He decides to unpack the things that he has already willed to other people and make his house more habitable.

In ML (2018), when a retired Colonel dela Cruz (Eddie Garcia)— possibly one of the worst abusers of martial law—tells college students led by Carlo (Tony Labrusca) about the horrific days of martial law, they wind up getting more than they bargained for. The movie depicts the actual tortures that happened during Martial Law. These are based on first hand experience of the martial law survivors. This movie shows the dilemma that happened during the martial law and the war on drugs of the previous regime. I saw his last film, “Rainbow’s Sunset,” which was an entry during the 2018 Metro Manila Film Festival. It is a convoluted story of a rich troubled clan, whose main conflict revolves around the family members’ having to deal with grandfather Ramon (Eddie Garcia), who comes out as gay and wants to live with his best friend and lover Fredo (Tony Mabesa), who is dying from cancer.

In an interview, Garcia reminded people that there was nothing wrong with being gay.

“Everybody was created by God,” he said. “If you are a homosexual, God created you that way. There’s nothing wrong with it.”

His first gay role was in the 1971 film “Tubog sa Ginto” directed by Lino Brocka. Garcia as the husband, Lolita Rodriguez as the wife, and Mario O’Hara as the driver turned lover.

Garcia appeared in nearly 700 film and television roles. Manoy had the highest number of appearances in Philippine films.

Garcia was still a workhorse at the age of 90 when died in June 2019 after tripping on a cable while taping for a soap opera, Rosang Agimat.

Garcia’s accident and death became an issue because there was no standby medical team or ambulance on the set.

The Directors’ Guild of the Philippines Inc. (DGPI) referred to Garcia’s death as “a sad and urgent reminder to the film and television industries that safety protocols at work and on set are of paramount importance.”

President Marcos signed Republic Act 11996, famously referred to as

IPresident Marcos signed Republic Act 11996, famously referred to as the “Eddie Garcia Law,” on May 24, 2024. This legislation aims to safeguard and uphold the well-being of individuals employed in the movie and television industry.

the “Eddie Garcia Law,” on May 24, 2024. This legislation aims to safeguard and uphold the well-being of individuals employed in the movie and television industry.

The law mandates the implementation of work hours, wages and other wage-related benefits, social security and welfare services, basic necessities, health and safety, working conditions standards and insurance.

Employers must comply with occupational safety and health standards.

Workers and employers or principals shall execute an agreement or an employment contract in a language or dialect understood by both parties before the commencement of service.

The minimum wage shall not be less than the applicable minimum wage in the region where the worker is hired and wages shall be paid on time directly to the worker.

Workers are entitled to benefits provided by the Social Security System, the Home Development Mutual Fund and the Philippine Health Insurance Corp.

Upskilling and reskilling of workers are also included in the new law.

The law further said: “No agreement or employment contract shall discriminate against a worker who has contracts or projects with other production outfits unless exclusivity is specified in the contract, nor shall any person perform any act involving preference based on race, color, descent, national or ethnic origin or religion, which has the purpose or effect of nullifying the recognition, enjoyment, or exercise on an equal footing of any human right or fundamental freedom.”

Violators could face a P100,000 fine for the first offense; P200,000, second offense; and P500,000 for the third and succeeding offenses.

“Whatever role is given to you— if you’re doing comedy, make them laugh. If you’re doing drama, make them feel it. If you’re doing horror, scare them. Do the job well; it doesn’t matter if I have to play a minor character. I don’t give my directors and producers a headache,” Garcia said in an interview.

Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, please e-mail info@ sapalovelez.com, or call 0917-5025808 or 09088665786

The snowfall in Juneau, Alaska perpetually creates new glacial ice, which takes at least two centuries to travel from the Juneau Icefield to Mendenhall Lake. Scientists say that it will take several centuries for this glacier in Juneau to completely disappear. After all, glaciers move by internal deformation of the ice, turning solid into liquid, slowly but surely, typically around 25 centimeters per day.

Justice in the Philippines seems to follow a glacial pace—slow but sure, yet for the most part delayed. Most criminal cases, especially when perpetrators are high profile personalities, take years to resolve, either because of cunning legal strategies employed by seasoned lawyers or due to deliberate delaying tactics used by unscrupulous attorneys. Comparing how former US President Donald Trump was tried and convicted for fraud with how former Senator Leila De Lima was charged, tried, and acquitted (at least in 2 drug related cases), it took the district attorney and a court in New York a few months,

Siegfred Bueno Mison, Esq.

while the prosecutors in the DOJ and the court in Muntinlupa took years to resolve the issue! Hence, the adage, justice delayed is justice denied, applies appropriately in this country. Delay in resolving cases are not solely attributable to lawyers; some are due to the sheer adversarial nature of the process, large caseloads of judges, ignorance of the law of some judges and court personnel, and inefficient postal service.

Trust in the judiciary in rendering a verdict without delay has eroded in the past; thankfully, the Supreme Court these days have instituted sweeping and significant judicial reforms, which included revisions in criminal procedure, manageable inventories of court dockets, and interagency agreements, all aimed to reduce undue delay.

Justice in any society is just as important as glaciers to the environment. Justice and glaciers provide that balance necessary for everyone to enjoy peace and harmony. No matter how long it takes, for justice to be served or for glaciers to move, it takes great patience to wait. Earthly justice

I have been taught that justice entails receiving precisely what one deserves—a suitable punishment for a specific offense. Justice in any society is just as important as glaciers to the environment. Justice and glaciers provide that balance necessary for everyone to enjoy peace and harmony. No matter how long it takes, for justice to be served or for glaciers to move, it takes great patience to wait.

is vital to public order, since society expects proper dispensation of justice using the basic principles of fairness and righteousness. Somehow if courts cannot administer justice due to some unholy transactions, divine justice will certainly catch up, surely but with glacier speed. The challenge for believers is to trust how our Almighty God can be merciful yet just at the same time. I have been taught that justice entails receiving precisely what one deserves—a suitable punishment for a specific offense. And in the case of sinners, just like all of us, the Bible tells us that the wages (or penalty) for our sins is death (Romans 6:23). Whereas mercy is not getting penalized, as in the total opposite of justice. Mercy is being given a “free pass” for our faults. Believers who are sinners at the same time escape the penalty of death since Jesus Christ died for their sins and received the penalty of death on our behalf. But our Almighty God is not only just and merciful; He is gracious! Grace is simply getting something good that we do not deserve. Instead of death, believers are given the gift of eternal life through Jesus Christ (Romans 6:23). Our Almighty God can

When tax and accounting rules meet

DEBIT CREDIT

N the middle of an Alaska Cruise, I got to appreciate the wonders of nature: Evergreen trees stand tall, framed by the majestic backdrop of snow-capped mountains. A lush rainforest unfolds, adorned with sparkling waterfalls and rivers that rush forth from the melting snow. I was fortunate to see Hubbard glacier up close; big thanks to Captain Theo of Celebrity Cruises who brought his ship close enough for his passengers to gaze in awe at the majestic creation of God. Our group went on a hike to see another glacier, which gradually melts into Mendenhall Lake. Conclusion

IS the Philippines keeping in step with the rest of the global accounting and tax communities in espousing the initiative of the International Federation of Accountants (IFAC)? This pertains to the integration of a comprehensive set of global standards on ethical considerations on tax planning and related tax services to the International Code of Ethics for Professional Accountants (the Code). Here’s the link to these guidelines: https://www.ethicsboard.org/publications/final-pronouncement-revisions-code-addressing-tax-planningand-related-services.

These new standards will strengthen the ethical framework that guides professional accountants providing tax planning services. These guidelines can likewise apply to other tax service providers, including lawyers and other consultants if the Bureau of Internal Revenue (BIR) so desires and issues its own complimentary rules and regulations.

The motivations and approaches are similar to both IFAC and the BIR.

Both institutions seek to restore public trust on core topics about the social contract between business entities, the market that supports them, and the expectations of faithful and ethical compliance with tax rules.

This comprehensive framework provides new requirements and guidance on due consideration of reputational, commercial, and wider economic consequences in tax advice and strategies provided by tax

practitioners for implementation by their clients or employers. The essence of these guidelines is more to ethical tax planning and less of “aggressive” tax strategizing. Substantial tax revenue losses for the government have been noted as a result of the adoption of the latter.

I have followed the evolution of this work of IFAC since its inception in September 2019. I note that there have not been so much interest or involvement in the tax and accounting community in the Philippines on this initiative. In fact, among the 50 country respondents to the exposure draft of these guidelines of IFAC, most of the Asean professional accounting bodies gave their comments. Unfortunately, the Philippines, through its Philippine Institute of Certified Public Accountants (PICPA) or other business or professional bodies, did not respond during the initial discussion phase.

I was able to attend on May 15, 2024 the first global webinar conducted by IFAC on the then newly approved Tax Planning and Related services guidelines. I picked up several relevant information that affirm my thoughts that these guidelines will go a long way in promoting more “ethical” tax planning and compliance in the Philippines.

be both just and merciful, seemingly diametrically opposite attributes, but because He loves us, He gave us the gift of grace! Theologian J. I. Packer wrote: “When God justifies sinners through faith in Christ, he does so on the basis of justice done, that is, the punishment of our sins in the person of Christ our substitute; thus the form taken by his justifying mercy shows him to be utterly and totally just (Rom. 3:25-26), and our justification itself is shown to be judicially justified.”

All of us are guilty before an omniscient and self-existent Judge. As Pastor Marc Minter once wrote, this combination of knowing everything and unceasing in existence appears to be “dreadful” since it implies that punishment is certain and there is zero escape! Divine justice will come for the Judge never forgets! Minter added that amidst the hopeless state of sinners, our Gracious God does the most unexpected— “He pronounces His declaration of righteousness upon sinners who are not.” Seems confusing if not oxymoronic for a person to be found righteous in spite of the evidence to the contrary. Nonetheless, believers ought to trust that justice, by earthly or divine standards, is served in the same way glaciers move—slowly but surely!

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.

The PICPA recently released a call for comments from its members before these are considered in the PICPA’s recommendations to the Professional Regulatory Board of Accountancy, which will then issue its resolution of incorporating these in the Professional Code of Ethics for Certified Public Accountants. The deadline for submission of comments to PICPA is on June 15, 2024. I intend to submit my feedback by then.

I am observing what the BIR and the other stakeholders in the local tax community be doing on this laudable initiative. Will they proactively get involved in this global tax initiative?

I hope so for the good of our country.

Joel L. Tan-Torres was the former Commissioner of the Bureau of Internal Revenue. He has also held the various positions of Dean of the University of the Philippines Virata School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm JL2T Consultancy.

UN refugee chief says 114 million have fled homes because nations fail to tackle causes of conflict

By Edith M. Lederer The Associated Press

UNITED NATIONS—The number of people fleeing their homes because of war, violence and persecution has reached 114 million and is climbing because nations have failed to tackle the causes and combatants are refusing to comply with international law, the UN refugee chief said Thursday. In a hard-hitting speech, Filippo Grandi criticized the UN Security Council, which is charged with maintaining international peace and security, for failing to use its voice to try to resolve conflicts from Gaza, Ukraine and Sudan to Congo, Myanmar and many other places. He also accused unnamed countries

of making “short-sighted foreign policy decisions, often founded on double standards, with lip service paid to compliance with the law, but little muscle flexed from the council to actually uphold it and— with it—peace and security.” Grandi said non-compliance with international humanitarian law means that “parties to conflicts—increasingly everywhere, almost all of them—have stopped respecting the laws of war,” though some pretend to do so. The result is more civilian deaths, sexual violence is used as a weapon of war, hospitals, schools and other civilian infrastructure are attacked and destroyed, and humanitarian workers become targets, he said. Calling himself a frustrated hu-

manitarian and looking directly at the 15 council members, Grandi said that instead of using its voice, “the council’s cacophony has meant that you have instead continued to preside over a broader cacophony of chaos around the world.”

The high commissioner for refugees told the council it’s too late for the tens of thousands who have been killed in Gaza, Ukraine, Sudan and other conflicts.

“But it is not too late to put your focus and energy on the crises and conflicts that remain unresolved, so that they are not allowed to fester and explode again,” Grandi said. “It is not too late to step up help for the millions who have been forcibly displaced to return home voluntarily, in safety

and with dignity.”

It’s also not too late to save millions of people from the scourge of war, the refugee chief said.

But the Security Council is increasingly polarized, and its five veto-wielding permanent members are at odds, with the US, Britain and France often strongly opposed to the views of Russia and China.

On the Gaza war, the council has not called for a cease-fire because of opposition from the United States, Israel’s closest ally. And on Ukraine, the council has been ineffective, as Russia, a key party to the conflict after Moscow invaded its smaller neighbor in February 2022, would veto almost any resolution. Grandi called what’s happened in

Gaza since Hamas’ surprise attack on October 7 and the “atrocious” recent events in the southern city of Rafah after an Israeli airstrike led to a deadly fire at a camp for displaced Palestinians an example of the “brutal conduct of hostilities meant not only to destroy but also to terrify civilians,” who increasingly more often have no choice but to flee.

He said Gaza is also “a tragic reminder of what happens when conflicts (and by extension a refugee crisis) are left unattended” for decades. He also pointed to Syria where after 13 years of conflict, 5.6 million Syrian refugees remain in neighboring countries including Lebanon and Jordan, which also host Palestinian refugees. Grandi said violations of interna-

tional law, including forcing people to flee, are having a devastating effect on people around the world. For example, in Myanmar, more than 1.5 million people have been displaced by fighting since October, bringing the total to over 3 million, “with many trying to seek refuge in neighboring countries,” he said. In Ukraine, international humanitarian law is violated every day with Russian attacks on the country’s power networks, houses and other civilian infrastructure, he said. And in Congo, Grandi said, “violence between men with guns is so common that no other place on Earth is as dangerous for women and children than the east of that country.”

Joel L. Tan-Torres

A12 Monday, June 3, 2024

Filipinos witness the horrors of New Caledonia riots

By Malou Talosig-Bartolome @maloutalosig

FILIPINOS in New Caledonia have witnessed the horrors of the almost threeweeks of deadly riots in the French Pacific islands.

One of them is Mathilde Rouquet, a Filipina-French middle school teacher who lives north of the capital Nouméa where there are clashes between tribes and local authorities.

“ In front of our house, cars were burned, street shops, mall, roads and schools. My eldest son’s school has been burned and destroyed,” Rouquet told BusinessMirror

D espite the violence outside her home, her family is fine, she said. Her Polynesian husband, and her children aged 12, 10 and 3, and Rouquet were stuck inside their home for 17 days.

T he Department of Foreign Affairs had earlier advised the 200 Filipinos in New Caledonia to be on alert and restrict their movements following the spate of violence in

the French territory.

V iolence mars New Caledonia over the plan in French Parliament to extend voting rights to those who lived in the islands for more than 10 years. Indigenous Kanaks fear the voting reform plan would marginalize them politically.  (See related story: https:// businessmirror com .ph/2024/05/30/ dfa-places-filipinos-on-alert-innew-caledonia/)

R ouquet said one of her Filipina friends also called her in the middle of the night, crying. She also lives north of Nouméa like Rouquet. She was hiding with her daughter in the dark in her apartment because guns shot, [gunshot fires] were non-stop in front her windows. We talked non-stop, she was so [panicky]. Trying to calm her until the sounds stopped. Then at 4 am she went to rest a bit,” she recalled.

R equet is also the president of the Philippine Association in New Caledonia. She tried to call as many members as she could to ask if they are in safe places.

I n one of her calls, she learned that an OFW group employed by a food caterer “lost everything.”

“ Their shop has been totally destroyed and burned. They are in their house, shocked. They lost their work,  the purpose of their stay here,” Rouquet said.

A s for the rest of the Filipino community, generally “they are safe,” she said.

See “Filipinos,” A2

THE aftermath of New Caledonia riots outside the house of Filipina-French teacher Mathilde Rouquet (inset) north of Nouméa. Cars, street shops were burned, while some cars were placed as roadblocks. The

Editor: Jennifer A. Ng

B1 Monday, June 3, 2024

First Gen wants to expand partnership with Tokyo Gas

By Lenie Lectura @llectura

First Gen LNG Holdings Corp. (FGEN LNG), a wholly owned subsidiary of First Gen Corp. (First Gen), is interested in undertaking more gas projects with its partner, tokyo Gas Co. Ltd (tokyo Gas).

“Tokyo Gas has supported us all through the development and then the construction. So, they’re now excited to become a shareholder. But I think they’d be keen to grow with us.

Smart: Revenues from mobile data rise in Jan-March

hoping to collaborate with them in terms of how we can, in fact, improve our efficiencies, including procurement of gas.”

l ast week, FGeN lNG and Tokyo Gas formalized liquefied natural gas (lNG) partnership with the signing of a shareholders’ agreement (SHA) and share subscription agreement (SSA).

ment of the company’s lNG supply requirement to CNooC Gas and Power Trading & Marketing ltd. (CNooC).

The lNG cargo to be provided by CNooC will be delivered by an lNG carrier which will be unloaded into storage tanks of the BW Batangas FSRU that is currently berthed at the First Gen Clean energy Complex (FGCeC) in Batangas City. The lNG will be utilized by FGeN ’s existing gas-fired power plants also located in the FGCeC

SPuno said he is hopeful that the existing partnership with Tokyo Gas would grow. First Gen’s partner is regarded as one of the largest gas players in Japan.

“They’re one of the largest and one of the ones with the highest reputation known globally. So, we’re

In order to support the development that (First Gen President Giles) Puno described earlier, we’re going to need more terminals of this kind. I think we’re very happy to work with Tokyo Gas to develop these kinds of projects in other locations outside of Batangas,” said First Gen executive Vice President Jonathan Russell.

Under the SHA and SSA, Tokyo Gas will subscribe for shares and become a shareholder in FGeN lNG, the owner and operator of the interim offshore terminal project located in Batangas City.

The SHA will govern the rights of FGe N l NG and Tokyo Gas with respect to the ownership and operations of the project. The SHA will become effective once the necessary regulatory approvals are secured.

last month, First Gen lNG awarded the contract for the second ship-

Power projects

FIRST Gen has a portfolio of four existing gas-fired power plants with a combined capacity of 2,017 megawatts (MW) that have been supplied for many years with gas from the Malampaya filed, an indigenous offshore gas field.

Continued on B2

Survey: Online piracy rising in PHL

ONlINe piracy in the Philippines is still on the rise, according to the YouGov consumer survey on piracy.

The survey, commissioned by the Asia Video Industry Association’s (AVIA) Coalition Against Piracy (CAP), revealed that 70 percent of the population consume pirated content via online streaming this year, up from 58 percent in 2023. This is the second highest level of piracy consumption in the Asia Pacific, with the Philippines next only to Vietnam in the survey at 71 percent.

Majority of Filipino respondents

Rolex hikes watch prices in UK as gold costs soar

Rolex SA raised prices for some of its precious metal watches in the United Kingdom by 4 percent after the price of gold surged to record highs.

The retail cost of the Rolex Daytona chronograph in white gold rose 4 percent to £38,700 ($49,312) from £37,200 as of June 1, according to information on the Swiss watchmaker’s UK website, tracked by Bloomberg News.

The price of a yellow gold GMT Master II jumped to £35,400 from £34,000.

Country-specific prices for timepieces made by Genevabased Rolex can be seen as an indicator of a country’s economic strength. The world’s top luxury watch brand produces more than 1 million watches per year, with sales above 10 billion Swiss francs ($11.08 billion).

The price of gold has surged 14 percent this year, touching an alltime high of $2,450 an ounce in May on optimism the US Federal Reserve will begin cutting interest rates. The British pound last month rose to its highest against the euro since August 2022.

A Rolex spokesperson in Geneva declined to comment on the change in prices. Bloomberg News

are aware of the negative consequences of piracy, including malware risks and harm to local industries. However, the allure of free content online continues to drive high piracy rates.

With this, Globe Telecom continues to intensify its drive against illegal streaming and downloading of content. The phone firm underscored the need to boost efforts against piracy, particularly passing legislation to institutionalize site blocking.

“This worrying trend highlights the urgency of strengthening enforcement against piracy, which

STOCK-MARKET OUTLOOK

Last week

Share prices fell last week, with the main index briefly touching the 6,300-point level, on a weaker peso and rising Treasury and bond yields which sent riskier assets into a tailspin.

The benchmark Philippine Stock exchange index declined 186.79 points to close at 6,433.10 points. The main index was down almost all week-long, even touching 6,371.75 points on Thursday, its lowest for the year, except on Friday when bargain-hunting sets in and the month-end window dressing of companies.

Volume of trade was higher, averaging at P8.2 billion, thanks to the P22.21 billion worth of trade on Friday.

Foreign investors, who controlled 63 percent of the trades, were net sellers at P8.06 billion. a l l other sub-indices ended in the red, led by the broader a l l Shares index that shed 59.62 points to close at 3,643.87 points, the Financials index fell 73 to 1,924.85, the Industrial index declined 101.16 to 9,138.81, the h o lding Firms index decreased 156.07 to 5,754.53, the Property index plunged 98.72 to 2,402.85, the Services index retreated 20.76 to 1,986.63 and the Mining and Oil index was down 36.16 to 9,241.14.

Top gainers were Berjaya Philippines Inc., Ni h aO Mineral r e sources International Inc., Pacific Online Systems Corp., a BSCBN Corp., Central a z ucarera de

can be done through amending the Intellectual Property Code to enable site blocking.

We believe this will go a long way in curbing content piracy, which will in turn support the creative industry and protect our customers from the dangers posed by pirated content,” said Yoly Crisanto, Globe’s Chief Sustainability and Corporate Communications of ficer.

Globe, a member of the AVIACAP and the Video Coalition of the Philippines, staunchly supports Senate bills aimed at strengthening the Philippines’ Intellectual Property Code, particularly provi-

Tarlac Inc., Dizon Copper-Silver Mines Inc. and Steniel Manufacturing Corp.

this week

Share prices may still fall this week as negative sentiment is rife in the market.

Broker 2Tradeasia said all signs are pointing to restrictive monetary policy staying for a good chunk of the second half of the year.

“Funds are expected to remain generally risk-off until new data suggests otherwise, and the tension between price stability mandate of central banks vs damaging impact of running record level rates is likely to spillover to 2025,” it said.

The government will also release May’s inflation data this week, and the expected range is at 3.7 percent to 4.5 percent from april’s 3.8 percent.

“Note that most inflation items remain cost-push, which implies that speculation of rate hikes should be very minimal, unlike in other economies abroad.”

Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said the local currency, which has been a concern last week, poses downside risks to the bourse if it continues to weaken.

“Investors may also watch out for our upcoming april labor market data for clues on the strength of our local economy,” he said.

Chartwise, the main index may see further testing of the 6,400 support level. If the said level holds, the market’s trading range is still seen

sions for site-blocking measures to curb online piracy. Site blocking is a critical tool in safeguarding the livelihood of content creators and protecting consumers from the risks associated with accessing pirated content.

Globe is a signatory to a Memorandum of Understanding (MoU ) with the Intellectual Property of fice of the Philippines (IPoPHl) and other ISPs that establishes a site-blocking mechanism against pirate sites, the first of its kind in Asia, highlighting the collaborative effort to combat unauthorized distribution and sale of pirated content. Lenie Lectura

from 6,400 to 6,700. If it does not, however, the market’s next support is seen at 6,150, Tantiangco said.

stock Picks

rCBC Securities retained its target price of P47 per share on the stock of aboitiz Power Corp. (aP) as it expects to sustain its momentum in the second quarter given the increase in electricity prices from el Nino.

“aP has a 14 percent exposure to the spot market as of the first quarter. Furthermore, aP consistently pays out dividends and has the 2nd highest dividend yield forecast among the power names in our coverage at 5.8 percent,” it said.

aboitizPower’s shares closed last week at P34.10 apiece.

Meanwhile, Maybank Securities maintained its buy rating on Bloomberry resorts Corp. after it opened Solaire resort North (SrN) last week.

The 1.5-hectare integrated resort and casino has over 160 gaming tables, more than 2,600 electronic gaming machines, 21 food and beverage outlets and over 520 hotel rooms.

“The property intends to attract the mass domestic market of the greater Manila area,” it said. We were given a tour of SrN a few days after the grand opening and were impressed by the property. Most visitors we saw were locals,” it said.

Bloomberry’s shares were last traded last Friday to close at P10.60 apiece. VG Cabuag

quarter rose by 11 percent to P18.8 billion from the same period a year ago due to an uptick in mobile data usage.

The revenues accounted for nearly 90 percent of the total P21.2 billion individual wireless revenues for the first three months of 2024.

“We constantly monitor customer usage patterns so we can calibrate the network to deliver value and abovepar customer experience,” said Smart Consumer Wireless Business Head Alex Caeg.

The wireless performance is expected to further improve as more 5G-enabled devices are launch by Smart.

“With the price of handsets appro aching the sweet spot that is more attractive to the mass market, we continue to push for greater 5G adoption with the latest devices being more accessible to our subscribers and unleashing more innovations that will enable the ever-evolving digital customer lifestyles.”

The mobile phone firm said it continues to invest in capacity and coverage of PlDT’s integrated fixed and Smart’s wireless networks to support robust traffic growth. As of end-March, Smart’s mobile network covers 97 percent of the population

and is part of the Philippines’s largest integrated network that includes PlDT’s 1.1 million cable kilometer fiber infrastructure. l ast April, PlDT Home said it has set its sights on sustaining its leadership in the market this year, after accounting for more than half of the industry’s total revenues in 2023. In a roundtable discussion, PlDT SVP Jeremiah de la Cruz said PlDT Home generated over half of the industry’s fiber-only revenues, amounting to P53 billion, representing a 9-percent growth from the year prior. With 3.2 million fiber customers as of end-2023, P l D T Home continues to dominate the market, commanding 50 percent of the total fiber-to-the-home industry customers. Since 2021, the company has consistently increased its share of industry revenues, reaching 50.6 percent by the end of 2023. Moreover, PlDT Home contributed to the growth of the Philippine telco sector, driving 68 percent of the industry’s revenue hike in 2023 alone.

This year, de la Cruz said the company plans to outpace the market even further, focusing on building its fiber broadband business through expansion to greenfield areas.

Improve services before hiking toll, operators told

By Butch Fernandez @butchfBM

SeNAToR Sherwin Gatchalian, citing a looming increase in toll rates, said the Toll Regulatory Board (TRB) must first ensure that operators of the country’s major toll roads improve their services before any additional rate hike is approved and implemented.

In a statement over the weekend, the lawmaker noted that the TRB has approved the second tranche of toll adjustments for the North lu zon ex pressway (Nlex ), resulting in higher toll rates for motorists starting June 4.

Citing the case of Nlex motorists continue to bewail poor services at the toll road. “I pass through Nlex regularly and I know the situation firsthand. People usually complain about the faulty cashless reader and horrible traffic, especially during weekends or holiday breaks when there is a surge of motorists traversing the toll road,” Gatchalian said.

The senator suggested that “operators of these toll roads should first fix their defective cashless system and implement a program that would ease traffic congestion before any rate hike is adopted.”

Moreover, Gatchalian noted that motorists continue to endure vehicular bottlenecks in certain parts of toll roads, particularly in areas approaching toll booths. Also, the cashless payment system of major toll roads continues to be erratic, contributing to vehicular build-up in certain areas.

“Any rate adjustment in the coun-

try’s main toll roads should translate into higher service standards and better experience for motorists,” the senator stressed, adding: “Siguraduhin muna ng TRB na maayos ang pagpapalakad ng mga operator sa Nlex at Slex bago ito magpasya ng dagdag bayad para sa mga dumadaan dito.” Under the new toll matrix, motorists will see the following increases:

n Class 1 vehicles (regular cars and SUVs): Additional P5.00 within the open system.

n Class 2 vehicles (buses and small trucks): Additional P14.00 within the open system.

n Class 3 vehicles: Additional P17.00 within the open system. The open system includes the stretch from Balintawak, Caloocan City to Marilao, Bulacan, while the closed system covers the portion from Bocaue, Bulacan, to Sta. Ines, Mabalacat City, Pampanga, including Subic-Tipo.

For end-to-end travel between Metro Manila and Mabalacat City, the additional fees are:

n Class 1 vehicles: Additional P27.00

n Class 2 vehicles: Additional P68.00

n Class 3 vehicles: Additional P81.00

These adjustments stem from the consolidated petitions filed in 2018 and 2020, which were due for periodic review. The toll adjustments, originally scheduled for 2019 and 2021, were deferred and split into two tranches to mitigate inflationary pressures and lessen the impact on motorists.

Lenie Lectura

Photo from www.smart.com.Ph

DA creates group to craft AO 20 implementing rules

By Ada Pelonia

The Department of Agriculture

(DA) created a technical work-

ing group (TWG) that would issue the implementing guidelines for streamlining administrative procedures and policies and removing non-tariff barriers to farm imports.

The DA took its cue from Administrative Order (AO) 20 signed by President Ferdinand Marcos Jr. last April which aims to ensure the country’s food security by removing non-tariff barriers to agricultural products. (See: https://businessmirror.com.ph/2024/04/22/ marcos-wants-non-tariff-curbson-farm-products-out/).

“It is imperative to further streamline administrative procedures to foster transparency and predictability of policies on the importation of agricultural products in order to help ensure food security, maintain sufficient supply of agricultural goods in the domestic market, and improve local production,” Marcos said in the four-page AO, which he issued through executive Secretary Lucas Bersamin.

Agriculture Secretary Francisco Tiu Laurel Jr. issued Special Order (SO) 768 which “would make it easier for importers to secure licenses or exempt licensed importers from submission of registration requirements.” Under SO 768, the committee will consult with the National economic and Development Authority’s Committee on Tariff and Related Matters to allow importation of certain agricultural products even beyond the quantity allowed under the Minimum Access Volume and reduce, if not remove, administrative fees pertaining to such importation and streamline the process and requirements for the issuance of sanitary and phytosanitary permits needed for the importation of agricultural products.

It will take steps to improve logistics, transport, distribution and

Banking&Finance BSP tweaks derivatives rules

storage of imported agricultural products.

“The TWG may invite resource persons and/ or experts from other concerned agencies, operating units, or private sector, as necessary, during meetings,” the order read.

SO 768 mandated concerned DA agencies to publish their respective guidelines on the streamlines procedures, requirements, and policies.

Meanwhile, Laurel also ordered the creation of the TWG’s secretariat, to be led by lawyer Jomila May Fugaban. The team would also be responsible for regular reporting to the DA Secretary including the efficient functioning of the TWG.

Last April, the Neda defended AO 20, saying it aims to ensure the country’s food security. It said imports remain necessary as local production is still unable to meet demand for key commodities like rice and pork.

The Inter-Agency Committee on Inflation and Market Outlook (IACIMO) expects the local production of key commodities such as rice, pork, onion, and sugar to fall short of domestic demand this year.

“By streamlining administrative procedures and removing non-tariff barriers, we aim to create a regulatory environment that enables—rather than hinders—the delivery of goods and services that our people need while safeguarding the welfare of our citizens,” Socioeconomic Planning Secretary Arsenio M. Balisacan said.

“It would be irresponsible not to augment local supply during periods of acute shortages. Failing to do so would lead to highly elevated prices, adversely affecting everyone—even farmers who are also consumers of agricultural products and fall victim to higher food prices themselves,” he added.

Balisacan said domestic production of rice is expected to fall 15 percent below demand despite the 0.7-percent increase in output in 2024. There is also a deficit in the production of pork due to the African swine fever.

World rate paths set to diverge with ECB’s first cut

The european Central Bank (eCB) could open the door to a weaker euro on Thursday as its first interest-rate cut of the cycle puts the region on a divergent policy path from the United States.

With a quarter-point reduction all but certain, officials will finally embrace a widening in the difference between borrowing costs on either side of the Atlantic, the implications of which they’ve discussed for months.

eCB policymakers led by President Christine Lagarde have insisted they’re comfortable plowing a separate furrow from the Federal Reserve, even if that risks a weaker currency that could stoke inflation.

how tolerant officials will be is likely to loom large in their debate on further possible easing—even more so after recent reports hinted at lingering consumer-price pressures. Most recently, data on Friday featured an underlying inflation gauge that unexpectedly rose in May for the first time in a year.

The eCB can already see how diverging policy prospects have begun to impact global markets. The euro has fallen to its weakest level against the pound in almost two years on the view that the Bank of england will lag the eCB in lowering rates.

Bank of Italy Governor Fabio Panetta acknowledged on Friday that cutting borrowing costs poses a currency risk to prices, but added that tight US policy could also hurt global demand and thereby curb euro-area inflation.

his Austrian colleague Robert holzmann recently sounded more ominous, acknowledging that “the Fed with the dollar is, figuratively speaking, the gorilla in the room” for officials.

Thursday’s decision will include quarterly forecasts that will be scrutinized for hints of future policy intentions, as will Lagarde’s press conference. Money markets for now are betting on two reductions in total this year, with a small chance of a third.

Denmark’s central bank is likely to match the eCB move with a quarter-

By Cai U. Ordinario @caiordinario

The Monetary Board, the highest policymaking body of the Bangko Sentral ng Pilipinas (BSP), has approved amendments to its regulations for banks, quasi-banks and Trust entities on derivative activities.

The BSP made additions to the list of derivative activities that do not require prior approval of the BSP but also expanded the conditions where the central bank must first be informed of such activities.

The amendments were approved through Circular 1194 series of 2024 and will be reflected under Section 613 of the Manual of Regulations for Banks (MORB) and of quasibanks and of trust corporations under Section 613-Q of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFl).

“The amended provisions will likewise apply to trust corporations by virtue of Section 302-T of the MORNBFl,” the BSP circular read.

Based on the amendments, banks who transact as dealers may engage in derivative activities without the prior approval of the BSP if they comply with applicable market conventions and mechanisms for transparency and disclosure.

This includes deliverable foreign currency (FX) forwards and FX swaps; non-deliverable FX forwards

and FX swaps; currency swaps; interest rate swaps and forward rate agreements; and interest rate and currency futures.

The banks should also be transparent on any financial derivative that is traded in an organized market where universal or commercial banks are recognized as a dealing participant or member.

BSP said organized markets refer to an exchange or BSP-recognized over-the-counter market that are bound by conventions on price transparency, trade reporting, market surveillance; and orderly conduct and operations.

“Provided further that the issuance of a sub-participation in any derivatives held as an end-user shall be deemed as undertaking the role of a dealer: Provided finally, that the dealer UB or KB observes the provisions of Section 612 and other pertinent securities laws, rules and regulations,” the BSP circular stated.

The BSP said it will allow digital banks, thrift banks, rural banks, and cooperative banks to transact in

derivative transactions as end-users without prior approval of the BSP.

The central bank also gave the green light to trust departments of universal or commercial banks to transact as an institutional counterparty in financial derivative instruments on behalf of its trustor/ principal/s as may be authorized by such trustor/principal/s, provided that the trust department observes the relevant provisions of Appendix 22 and Appendix 86 of the MORB. Under the amended rules, the BSP will allow banks to act as principal-protected foreign-currency denominated Security Protocols (SPs) without prior central bank approval.

This is provided that the revenue streams of these derivatives are linked to interest rate indices, instruments, listed equity or indices, FX rates, credit rating or gold with the maximum contractual maturity being five years.

Further, banks no longer need prior approval of the BSP when investing in plain vanila single-name credit linked notes (CLNs) that are

issued or guaranteed by the Republic of the Philippines.

“Provided that the total carrying value of investment in SPs and CLNs, including those held under the trust department’s Type 3 authority. shall riot exceed twenty percent [20 percent] of the assets being managed by the trust department,” BSP said. Meanwhile, the BSP said a bank or its trust department must notify the central bank prior to engaging in derivative instruments in the case of any variant of a stand-alone derivative and structure or combination of two or more stand-alone derivatives. Bank are also advised to seek the BSP’s approval prior to engaging in a structured product where the embedded derivative is different from the bank’s existing Type 2 to 4 additional derivatives authority or a trust department’s Type 3 additional derivatives authority. The central bank said the Circular will take effect 15 calendar days following its publication either in the Official Gazette or in a newspaper of general circulation.

GoTyme, CICC to step up fight against financial fraud

TBy Lenie Lectura @llectura

he Cybercrime Investigation and Coordinating Center (CICC) and GoTyme Bank vowed to intensify efforts to fight financial fraud with the signing of a memorandum of understanding (MOU).

point cut of its own just hours after the euro zone outcome. elsewhere, US payrolls and a suspenseful Canadian decision on a possible rate cut will be among highlights in the coming week. US and Canada

IN the wake of fresh US inflation and spending data, the government’s jobs report on Friday is expected to show steady employment growth again in May. The median forecast in a Bloomberg survey calls for a 190,000 increase, a modest acceleration from the prior month.

That would produce a cooling in average job growth over the most recent three months, adding to evidence that labor demand is softening. The unemployment rate, based on a separate survey of households, is projected to hold at 3.9 percent.

Average hourly earnings are seen rising 3.9 percent from May of 2023, matching the prior month’s annual gain. While earnings growth is holding at a three-year low, worker pay gains remain stronger than before the pandemic.

The Labor Department will also issue March job openings data on Tuesday, and economists project nearly 8.4 million vacancies—slightly lower than the prior month. Openings continue to ease as employers have greater success filling positions as the job market becomes more balanced.

In addition to government data, the Institute for Supply Management will release results of its May surveys of manufacturers and services providers on Monday and Wednesday, respectively. Looking north, the Bank of Canada is in a position to soon begin an easing cycle. The country has seen four disinflationary reports in a row, and a report on Friday showed slower-than-expected economic growth as well. economists and traders broadly expect the central bank to deliver a 25-basis point cut to its key policy rate on Wednesday. Still, there remains some uncertainty about how a cautious Governor Tiff Macklem and his policymakers will respond. Bloomberg News

The CICC is an attached agency of the Department of Information and Communications Technology (DICT). It was created by virtue of Republic Act 10175 or the Cybercrime Prevention Act of 2012 and is the country’s lead agency in

the prevention and suppression of cybercrime.

GoTyme is a joint venture between the Gokongwei group of companies and Tyme, a multi-country digital banking group. It is one of the fastest growing banks in the country, having reached three million customers in April.

CICC executive Director Alexander K. Ramos welcomed the partnership with the private sector as part of the “whole-of-society” approach he introduced in fighting cybercrime.

“Cyber security is now more essential to our future than ever before. It’s the line of defense for

Perspectives Global

Tvirtually everything we rely on today: financial services, healthcare, travel, personal information, and identity. In the long haul we are out to fortify and improve the country’s cyber resilience,” he said in a statement.

GoTyme, according to its C eO

A lbert Tinio, has been closely collaborating with CICC prior to the MOU signing. “We remain committed to working closely with CICC and other government agencies because cross-sector collaboration is a game changer that helps keep cyber threats in check.”

“To get the edge on attacks, cy-

bersecurity professionals and governments should embrace publicprivate partnerships such as this,” Tinio added.

GoTyme said it will continue to invest in the best systems and technologies for cybersecurity and fraud management as the digital bank expects its customers to reach 5 million by the end of the year. Last February, GoTyme said it is a “phygital” bank or a hybrid of a physical and digital bank as its partnership with euronet, an ATM operator, allowed their depositors to withdraw their money from the money machines.

tech report: Consumer and retail sector insights

he rise of emerging technologies is changing the way customers want to engage with consumer and retail brands. Shoppers today expect convenience, seamless commerce, personalization and hold brands to high environmental, social and governance ( e S G) standards. These expectations may only intensify as more digital native shoppers reach consumption age. At the same time, geopolitical tensions and economic uncertainty are putting the sector under increasing pressure.

Consumer spending in the Philippines is expected to grow positively in 2024, driven by economic recovery, reduced inflationary pressures and a robust labor market. however, there are risks that come with this such as domestic economic fluctuations, among others.

These shifts are forcing consumer and retail companies to adapt their business models so they can work seamlessly in a multi-channel world.

In a highly competitive and dynamic environment it can be tempting to rush into implementing technologies in the hope of securing a competitive edge. But the KPMG Global Tech Report 2023, which is based on a survey of 2,100 executives from 16 countries and nine industries, shows that innovation has to be methodically tied to clear business outcomes and carefully monitored for

bottom-line returns. Instead of embracing new technologies simply for the sake of it, organizations should ensure they design their digital transformation plans to produce benefits that are quantifiable and are of value.

Getting value from tech is not a foregone conclusion

M A N y consumer and retail organizations have managed to create value through technology. Out of the 420 consumer and retail executives that were surveyed, 57 percent, on average, have experienced profitability or performance improvements from digital transformation projects over the past two years across the tech categories measured. For example, 23 percent of consumer and retail companies say that their digital transformation investments have performed significantly above expectations in enhancing customer engagement.

But, of course, not every tech investment has generated returns: consumer and retail is more likely than the cross-sector average to report that their tech transformation investments over the last two years have not boosted their profitability or performance levels.

Many consumer and retail companies are realizing the need to integrate technology into their operations to enhance efficiency and productivity. however, it is crucial to define the

business outcomes first before selecting the right technology such as leveraging generative AI to enhance productivity and employee well-being,” said KPMG in the Philippines Deal Advisory Principal and Consumer & Retail Sector head Jerome Andrew Garcia.

Defining value and monitoring tech debt helps organizations stay on track

WheN they define value for tech investments, leaders should look beyond traditional business metrics, such as financial performance. For example, value might mean using tech to improve employee wellbeing, meet e SG requirements or mitigate supply chain risks. It could also mean renovating data architectures to support the integration of sophisticated technologies such as predictive analytics. A retail company, for instance, might decide it wants to reduce the disconnects between contact channels to create seamless customer engagement journeys. If it knows it is aiming for this kind of agility for customers, the company can work out which technical and data capabilities it needs to build an omnichannel environment where channels are integrated to deliver more convenience for shoppers.

The good news is that most consumer and retail executives in the

KPMG survey (65 percent) are aware of the productivity impact and financial costs of their existing tech debt. But the sector is behind the average across all sectors surveyed (70 percent), so it could benefit from increasing its awareness levels to avoid complacency. Accumulated tech debt can rear its head, in the form of unaddressed security vulnerabilities or functionality errors that cause suboptimal performance, and complicate digital innovation plans. So, alongside their innovation efforts, consumer and retail companies must keep a close eye on managing tech debt to stop it from draining value from digital transformation projects.

This excerpt was taken from the KPMG Thought Leadership publication: https://kpmg.com/xx/en/ home/insights/2024/03/kpmg-global-tech-report2023-consumer-and-retail-sector-insights.html. © 2024 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. For more information, you may reach out through ph-kpmgmla@kpmg.com, social media or visit www.home.kpmg/ph. This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent KPMG International or KPMG in the Philippines.

BusinessMirror file photo

Renee Salud’s Ode to Mindanao

IT takes a design legend like Renee Salud to come up with Mindanao Tapestry. It is the initiative to highlight all the major weaves of the The Promised Land in an effort to promote indigenous materials and Mindanaoan artistry.

An icon in the Philippine fashion scene, Salud creates neo-ethnic clothes with international appeal. He consistently advocates for the use of indigenous materials in all his fashion shows here and abroad.

On May 9 at the hotel Okada Manila, Salud once again proved the power of collaboration, innovation, and cultural presentation in Mindanao Tapestry II, directed by Cata Figueroa Jr., with assistance from Marcel Isip.

“Throughout my career, I’ve been championing the development and promotion of the Filipino fashion industry for the purpose of reaching the global market, with a strong sense of pride for fabrics that are specific to the indigenous Filipino traditions dating back to the Spanish times,” said the Philippine ambassador of fashion to the world.

Salud’s grasp and knowledge of Mindanao’s rich weaving resources was harnessed when he practiced his profession in Davao City.

“My Davao business flourished for 15 years. It was an integral part of my business, because my Mindanao clients did not have to go Manila just to have their clothes done by me,” Salud explained.

“I decided to cease its operations, to be able to fortify my branches in Quezon City, Alabang and Makati.”

By showcasing the best of Mindanao, everyone will be let in to a Mindanao that is rich in culture, beauty and tradition, and not a Mindanao that is ridden in strife and conflict as portrayed in the media.

“Tonight, we are not only celebrating the art of fashion but also embarking on a journey to discover the hidden treasures of Mindanao, a region that holds within its landscapes, culture and people the essence of beauty and tranquility,” said Rep. Erwin Tulfo of ACT-CIS party-list, a son of Mindanao who was a special guest speaker of the night.

Through the lens of fashion, we challenge stereotypes and illuminate the truth about this enchanting region, Rep. Tulfo added. “Each piece carries a story, echoing the colorful tapestry of Mindanao’s diverse communities—be it the intricate weaves of the T’boli tribe or the bold patterns of the Maranao people.”

I STARTED going to Svenson for Scalp Corrective Treatments because of scalp issues (seborrheic dermatitis).

Months into the treatment, I realized that I also had bald spots. That’s not an easy thing to see and feel. Over a year into the treatments, I am happy with my progress. It needs patience and time as treatments need to be done thrice a week.

Svenson trichologist Shai Aya-ay said hair loss in women is more common than we think and it all starts when women approach their 40s.

“I would say about 40 percent to 50 percent of women can suffer from female pattern hair loss or the genetic type of hair loss. And around 40 percent suffer from what we call telogen effluvium, hair shedding episodes that are usually trigger-based.”

Juana Manahan-Yupangco sought help for her hair loss and thinning during the pandemic.

“Seeing hair on my floor and having clumps come out when I pulled my hair up into a ponytail, I got really scared,” she said.

Svenson was able to improve Juana’s hair, helping restore thicker and healthier strands, and keeping

As Tulfo emphasized, the night was a celebration of culture and tradition, as Mindanao’s cultural heritage is as varied as its landscapes, reflecting a beautiful blend of indigenous practices, Spanish influences and Islamic traditions.

Salud showcased Pis Syabit, T’nalak, Inaul and Muslim Princess ensembles. One of the highlights of the event featured 39 young designers who drew inspiration from the traditional Tennun textile of Basilan.

Mindanao Tapestry II, which will tour Portugal, Italy and Canada, was a collaboration with former tourism

her scalp issues under control. I went to Svenson after seeing a video of Juana getting a Scalp Corrective Treatment.

“I learned from Svenson that scalp health is important. If I want my hair to be healthy, my scalp has to be healthy,” said Juana.

So what is next after Scalp Corrective Treatments? I was invited by Svenson to try NexoHair, its new treatment that delivers faster results, improved hair density, and more hair coverage. NexoHair was designed to be optimized for hair growth. So how does it work? Exosomes signal hair cells to reactivate dormant hair follicles while also promoting the growth of new hair follicles for fuller, thicker, healthier hair. NexoHair uses E50-H exosomes, which are derived from marine sources.

“Exosomes are vesicles containing growth factors, genetic material and lipids. That vesicle not only protects those growth factors and genetic material inside, it also facilitates delivery. The outer wall of an exosome, the membrane, is the same biochemical structure as our human cells. So in comparison to traditional modalities, I would say you can achieve faster, more standardized results,” said Mike Lee, CEO of PrimaCure.

When I first tried NexoHair, I didn’t expect miracles. I know good things take time. But within days after my first session, I did see a difference. If you have known me for a while, you’d know that you can see my scalp from the top. My daughter took a picture of me with my head down and I was so surprised that my scalp isn’t that visible anymore.

“What makes exosome therapy exciting for hair is the fact that it can stimulate hair stem cells to form new hair follicles. Platelet-rich plasma for hair loss

secretary Wanda Tulfo Teo in cooperation with the Philippine Charity Sweepstakes, the province of Basilan, the province of Maguindanao del Norte, accessories designer Manny Halasan and overall project director and Salud muse Patty Betita, “It is important to acknowledge the efforts of individuals like Rene Salud, whose vision extends beyond fashion to encompass a broader narrative of inclusivity and enlightenment. Through collaborations like this, we can bridge gaps, foster understanding, and promote unity among our diverse communities,” Rep. Tulfo concludes. n

can make your existing hair follicles grow healthy, thicker hair, or activate dormant hair follicles,” said Lee. I have never told anyone this but I am very insecure about my thinning hair. I am not by any means trying to look 20 or 30 or 40 but thinning hair really ages you.

COS COLLABORATES WITH JAPANESE SHIBORI ARTISAN KAZUKI TABATA

GLoBaL brand CoS announces a limited-edition collection featuring the traditional Japanese resist-dyeing craft of shibori by Kyoto-based artisan Kazuki Tabata. Utilising this time-honoured technique, mesmerising patterns emerge through binding, folding, and dyeing cloth in limitless ways.

The collaboration proudly celebrates the fusion of traditional craft and modern design through a 14-piece capsule that spans womenswear, menswear and accessories. CoS’ signature silhouettes are transformed through the craft of shibori: the result is a capsule with a unique blend of texture and flair. as art and fashion intertwine, soft tones of blue, orange, and brown evoke a sense of timelessness and calm.

Designed for creative layering and adaptable styling, each garment captures the essence of summer dressing. Highlighting the collection’s dedication to intricate craftsmanship, the Sekka Shibori technique is used to create a delicate silk scarf. additionally, the Tesuji Shibori technique takes centre stage on garments made from more sustainable materials such as TeNCeL Lyocell. The capsule will be available online and at the CoS Store in SM aura Premier tomorrow, June 4. inspired by contemporary culture, the London-based fashion brand is known for elevated wardrobe pieces and innovative designs that are made to last. Dedicated to quality and sustainability, CoS takes a bespoke approach to design, creating unique collections that combine function with timeless style.

NexoHair, which has to be done 3 consecutive times with a two-week interval, promises to change that.

According to Lee, NexoHair will stimulate hair stem cells that are “residing” right under your scalp to migrate and plug up with your endothelial cells and become new hair follicles where new hair will grow.

And this is why the results are apparent in a shorter period of time.

NexoHair is administered using microneedling. It is not painless, to be honest. My pain tolerance is quite high so I didn’t feel anything at all except that of someone touching my scalp but it isn’t the same for everyone. Lee said, “You’ll basically feel the same sensation as you just tapping your scalp with your nails.”

After the application of exosomes on the scalp through microneedling, the next step is TargetCool which allows the deeper penetration of exosomes. The CO2 used in the TargetCool device helps reduce inflammation, lower blood pH, and improve the supply of oxygen to cell tissues. Mr. Lee shares, “It utilizes cold temperature and pressure to drive products into the microchannels created by microneedling. So we can really maximize the delivery of exosomes into the scalp.”

NexoHair is a non-surgical alternative to hair transplant and it promises to deliver comparable results.

“If you give exosomes three to four months, especially if you’re a younger patient, I would say the results are comparable to that of maybe a graft that’s 4,000 to 6,000.”

In case you’re curious, each NexoHair session costs about P25,000.

NexoHair is administered using microneedling.

PHOTO FROM SVENSON

‘MINDANAO TAPESTRY II X RENEE SALUD’ a model in inaul, Marina Benipayo as a Musim Princess, elaine Moll in Pis Sybit, Hannah armold in T’nalak, Joshua de Sequerra and rina Maier in Tennun. PHOTOGRAPHED BY EDISON SIA OF FASHION MEDIA

BDO h O l D s sustaina B i lity B r iefing series f O r its t O p executives

BDO Unibank Inc. (BDO) has launched its “Sustainability Executive Briefing Series” to enable senior leaders to gain a broad understanding of sustainability at a strategic level specifically on risks and opportunities in environment, social, and

Angkas capacitates further emergency responders

CONSTANTLY setting the bar higher with its unwavering commitment to safety, Angkas

has further capacitated its Emergency Response Team (ERT) with the expanded and upgraded training processes designed to boost their ability to provide critical support swiftly.

“We began this journey back in 2016. Today, we’ve expanded our knowledge base with management and Sir George [Royeca] taking the lead. We’ve broadened our training, acquired new equipment, and refined our skills to better handle potential emergencies,” said Angkas ERT Lead Marlon Abilong, a licensed emergency medical technician.

The improvements include 24/7 coverage by ERT responders, achieving an emergency response time of 15 to 30 minutes. The program partners with several accessible hospitals and ambulance networks, with certified ERTs skilled in performing on-site responses that include real-time triaging

and interventions.

He, likewise, noted that the ERT facilitates seamless insurance procurement for stakeholders when needed.

Bernabe “Jhun” Romerosa, Angkas biker representative and certified ERT, shared his journey of training and certification before joining the ERT.

He said: “Basic life support training is essential, as well as EMT certification to join the Angkas emergency response team. It took me about three months of study to get certified. However, certification alone is not enough; a genuine passion for responding to emergencies is crucial.”

Romerosa explained the comprehensive process of the Angkas ERT, which begins with a call to Angkas’ 24/7 emergency hotline and concludes with managing the situation and any injuries.

Following the enhancement of their services,

governance (ESG) that impact their decisions on credit, investments, underwriting, insurance, and administrative operations.

The briefings support BDO’s sustainability philosophy, incorporating sustainability in the way the Bank conducts business, aimed at embedding sustainability principles in everything it does, from making decisions to assessing relationships to creating products.

The Executive Series has so far covered diverse topics such as nature and biodiversity loss and conservation, responsible investing, offshore wind energy, and current nuclear power technology. Featured external speakers are experts on emerging sustainability issues designed to provide the leadership team with valuable insights, best practices and a platform for meaningful exchange of ideas to identify business opportunities.

BDO’s Sustainability Executive Briefing Series aligns with the mandate set forth by the Bangko Sentral ng Pilipinas (BSP), to bolster the financial institutions’ leadership capability in effectively assessing and managing environmental and social (E&S) risks. Furthermore, the sessions intend to reinforce BDO’s financial performance in a global low carbon economy that is environmentally responsible, and socially inclusive.

Abilong highlighted additional safety and wellbeing programs being developed for all Angkas stakeholders, such as the establishment of clinics in Cainta and Makati where bikers and their families can get check-ups; and the roll out of basic life support and first aid training for all bikers.  Angkas seeks to educate the entire biker community in basic emergency responses, with initiatives involving several bikers like Romerosa as crucial steps in disseminating this training. Currently, its ERT program is operational in Metro Manila, Cagayan De Oro, and Cebu City, with plans to expand as Angkas grows its operations to new locations.

Abilong reassured both Angkas riders and passengers of the ERT’s readiness and capability to respond promptly in emergencies, as their Metro Manila roaming-motomedic service, Angkas Buhay, is prepared to provide initial aid to other motorists in need.

Despite Angkas’ impressive 99.997 percent safety record and its dedicated team of medical responders, Romerosa advised riders and passengers to remain alert and comply with traffic laws as a preventive measure. He added: ”For bikers, simply follow traffic laws, and for passengers, avoid using cellphones while riding.”

“The FDA recognizes the specific needs of small and medium businesses. It supports entrepreneurs, encourages the establishment of MSMEs and ensures their continued viability and growth,” said Zacate. “At the same time, we sustain the FDA’s mission, quality policy, and objectives.”

These objectives include ensuring the FDA’s monitoring and regulatory coverage over establishments and products under its jurisdiction; enhancing industry and consumer confidence in the regulatory system; and helping achieve economic growth and development by promoting fair trade practices and sound regulatory foundation for domestic and international trade.

“The collective mindset is to aspire for growth that is more inclusive so that all Filipinos, including the poor, are given opportunities to participate in the growing economy. Critical to that is the success in generating high-quality jobs and raising productivity,” said Zacate.

While in Tuguegarao, Zacate joined First Lady Marie Louise Araneta Marcos at the launch of her LAB for ALL Caravan at the Cagayan Coliseum.

The program provided free medical consultations to about 4,800 patients. Close to 400 prescription glasses were distributed post-eye examinations, and over 500 patients had dental work done. Additionally, more than 5,000 laboratory tests were completed, covering various areas such as blood chemistry, hematology, minor surgeries, and medications.

Zacate thanked the dedicated healthcare professionals and government agencies who have been consistently helping with the program.

THE year 2024 marked the 40th anniversary for one of Asia Pacific’s largest international lodging owner-operators. This momentous occasion looks to its impressive collection of 950 properties across 220 countries around the world for its success. With even more openings just beyond the horizon the global brand shows no signs of slowing down for the years to come.

As Ascott celebrates its 40th birthday globally, its presence in the Philippines elevates itself to the next level. With its entry back in the year 2000, the Ascott Limited Philippines has grown into a market leader with 32 properties under its portfolio.

Demonstrating its dedication to excellence,

Ascott welcomed Patrick Vaysse as the new country general manager. Together with the newly appointed Cluster General Managers, Cecille Teodoro and Rennan John Reyes, their fresh perspectives and decisive, insightful ideas usher a new era of growth and development for the company.

Vaysse brings over 25 years of hospitality experience to the Philippines. As the former COO of the Ascott Limited of Indonesia, his role was pivotal in securing the group’s entry into the fullservice hotel industry with the acquisition of the Indonesian hospitality giant Tauzia, with brands such as Préférence, Vertu, Harris, Fox, Yello, Pop.

Thrilled to contribute his technical know-how, Vaysse leverages corporate realism, financial acumen, and deep multicultural hospitality experience to elevate the Philippine portfolio. The company has expanded its portfolio in the Philippines to an impressive 32 serviced residences. Following the addition of Vaysse as the Country General Manager, several other properties and brands will look to make their way to the country. “As we continue to expand our reach nationwide, the portfolio looks to grow to over 50 properties by 2028”. He said, “Beyond the well-established serviced residences, we’re also eager to add our full serviced hotels into the ever-growing portfolio here in the Philippines.”

Ascott Limited’s upcoming properties this 2024 and beyond include Citadines Bacolod City; Somerset Valero Makati; Somerset Gorordo Cebu; Ascott Double Dragon; Citadines Greenhills and Citadines Paragon Davao

The Ascott Limited will also be entering into hotel and resorts with Preference Siargao and Citadines Mactan Cebu

These openings come aptly timed with Vaysse’s entry to the team as he can share his vast expertise with hotels and resorts to further ensure the seamless and successful opening of the two properties as the group’s first foray into the market.

Vaysse.

FDA DG Dr. Samuel Zacate discusses the BBMSME Program in tuguegarao

FIRSt Lady Marie Louise Araneta Marcos at the Cagayan Coliseum for LAB for ALL Caravan

BDO h O l D s sustaina B i lity B r iefing series f O r its t O p executives

BDO Unibank Inc. (BDO) has launched its “Sustainability Executive Briefing Series” to enable senior leaders to gain a broad understanding of sustainability at a strategic level specifically on risks and opportunities in environment, social, and

Angkas capacitates further emergency responders

CONSTANTLY setting the bar higher with its unwavering commitment to safety, Angkas

has further capacitated its Emergency Response Team (ERT) with the expanded and upgraded training processes designed to boost their ability to provide critical support swiftly.

“We began this journey back in 2016. Today, we’ve expanded our knowledge base with management and Sir George [Royeca] taking the lead. We’ve broadened our training, acquired new equipment, and refined our skills to better handle potential emergencies,” said Angkas ERT Lead Marlon Abilong, a licensed emergency medical technician.

The improvements include 24/7 coverage by ERT responders, achieving an emergency response time of 15 to 30 minutes. The program partners with several accessible hospitals and ambulance networks, with certified ERTs skilled in performing on-site responses that include real-time triaging

and interventions.

He, likewise, noted that the ERT facilitates seamless insurance procurement for stakeholders when needed.

Bernabe “Jhun” Romerosa, Angkas biker representative and certified ERT, shared his journey of training and certification before joining the ERT.

He said: “Basic life support training is essential, as well as EMT certification to join the Angkas emergency response team. It took me about three months of study to get certified. However, certification alone is not enough; a genuine passion for responding to emergencies is crucial.”

Romerosa explained the comprehensive process of the Angkas ERT, which begins with a call to Angkas’ 24/7 emergency hotline and concludes with managing the situation and any injuries.

Following the enhancement of their services,

governance (ESG) that impact their decisions on credit, investments, underwriting, insurance, and administrative operations.

The briefings support BDO’s sustainability philosophy, incorporating sustainability in the way the Bank conducts business, aimed at embedding sustainability principles in everything it does, from making decisions to assessing relationships to creating products.

The Executive Series has so far covered diverse topics such as nature and biodiversity loss and conservation, responsible investing, offshore wind energy, and current nuclear power technology. Featured external speakers are experts on emerging sustainability issues designed to provide the leadership team with valuable insights, best practices and a platform for meaningful exchange of ideas to identify business opportunities.

BDO’s Sustainability Executive Briefing Series aligns with the mandate set forth by the Bangko Sentral ng Pilipinas (BSP), to bolster the financial institutions’ leadership capability in effectively assessing and managing environmental and social (E&S) risks. Furthermore, the sessions intend to reinforce BDO’s financial performance in a global low carbon economy that is environmentally responsible, and socially inclusive.

Abilong highlighted additional safety and wellbeing programs being developed for all Angkas stakeholders, such as the establishment of clinics in Cainta and Makati where bikers and their families can get check-ups; and the roll out of basic life support and first aid training for all bikers.  Angkas seeks to educate the entire biker community in basic emergency responses, with initiatives involving several bikers like Romerosa as crucial steps in disseminating this training. Currently, its ERT program is operational in Metro Manila, Cagayan De Oro, and Cebu City, with plans to expand as Angkas grows its operations to new locations.

Abilong reassured both Angkas riders and passengers of the ERT’s readiness and capability to respond promptly in emergencies, as their Metro Manila roaming-motomedic service, Angkas Buhay, is prepared to provide initial aid to other motorists in need.

Despite Angkas’ impressive 99.997 percent safety record and its dedicated team of medical responders, Romerosa advised riders and passengers to remain alert and comply with traffic laws as a preventive measure. He added: ”For bikers, simply follow traffic laws, and for passengers, avoid using cellphones while riding.”

“The FDA recognizes the specific needs of small and medium businesses. It supports entrepreneurs, encourages the establishment of MSMEs and ensures their continued viability and growth,” said Zacate. “At the same time, we sustain the FDA’s mission, quality policy, and objectives.”

These objectives include ensuring the FDA’s monitoring and regulatory coverage over establishments and products under its jurisdiction; enhancing industry and consumer confidence in the regulatory system; and helping achieve economic growth and development by promoting fair trade practices and sound regulatory foundation for domestic and international trade.

“The collective mindset is to aspire for growth that is more inclusive so that all Filipinos, including the poor, are given opportunities to participate in the growing economy. Critical to that is the success in generating high-quality jobs and raising productivity,” said Zacate.

While in Tuguegarao, Zacate joined First Lady Marie Louise Araneta Marcos at the launch of her LAB for ALL Caravan at the Cagayan Coliseum.

The program provided free medical consultations to about 4,800 patients. Close to 400 prescription glasses were distributed post-eye examinations, and over 500 patients had dental work done. Additionally, more than 5,000 laboratory tests were completed, covering various areas such as blood chemistry, hematology, minor surgeries, and medications.

Zacate thanked the dedicated healthcare professionals and government agencies who have been consistently helping with the program.

THE year 2024 marked the 40th anniversary for one of Asia Pacific’s largest international lodging owner-operators. This momentous occasion looks to its impressive collection of 950 properties across 220 countries around the world for its success. With even more openings just beyond the horizon the global brand shows no signs of slowing down for the years to come.

As Ascott celebrates its 40th birthday globally, its presence in the Philippines elevates itself to the next level. With its entry back in the year 2000, the Ascott Limited Philippines has grown into a market leader with 32 properties under its portfolio.

Demonstrating its dedication to excellence,

Ascott welcomed Patrick Vaysse as the new country general manager. Together with the newly appointed Cluster General Managers, Cecille Teodoro and Rennan John Reyes, their fresh perspectives and decisive, insightful ideas usher a new era of growth and development for the company.

Vaysse brings over 25 years of hospitality experience to the Philippines. As the former COO of the Ascott Limited of Indonesia, his role was pivotal in securing the group’s entry into the fullservice hotel industry with the acquisition of the Indonesian hospitality giant Tauzia, with brands such as Préférence, Vertu, Harris, Fox, Yello, Pop.

Thrilled to contribute his technical know-how, Vaysse leverages corporate realism, financial acumen, and deep multicultural hospitality experience to elevate the Philippine portfolio. The company has expanded its portfolio in the Philippines to an impressive 32 serviced residences. Following the addition of Vaysse as the Country General Manager, several other properties and brands will look to make their way to the country. “As we continue to expand our reach nationwide, the portfolio looks to grow to over 50 properties by 2028”. He said, “Beyond the well-established serviced residences, we’re also eager to add our full serviced hotels into the ever-growing portfolio here in the Philippines.”

Ascott Limited’s upcoming properties this 2024 and beyond include Citadines Bacolod City; Somerset Valero Makati; Somerset Gorordo Cebu; Ascott Double Dragon; Citadines Greenhills and Citadines Paragon Davao

The Ascott Limited will also be entering into hotel and resorts with Preference Siargao and Citadines Mactan Cebu

These openings come aptly timed with Vaysse’s entry to the team as he can share his vast expertise with hotels and resorts to further ensure the seamless and successful opening of the two properties as the group’s first foray into the market.

Vaysse.

FDA DG Dr. Samuel Zacate discusses the BBMSME Program in tuguegarao

FIRSt Lady Marie Louise Araneta Marcos at the Cagayan Coliseum for LAB for ALL Caravan

The rise of non-celebrity influencers

FOr m any years before the age of social media, influence has traditionally been associated with movie stars, athletes and models.

A couple of years ago, the word social media influencer became a by-word, with popular fashion and lifestyle personalities—and wannabes—suddenly finding themselves under the spotlight, getting praised and inevitably bashed for flaunting their newfound semi-celebrity status. These days, no marketing campaign is complete without engaging influencers or “key opinion leaders” as many of them are more respectably referred to, as part of the Pr /marketing mix. the rise of non-celebrity influencers

HOW EVE r , a n ew trend is reshaping the landscape: the emergence of non-celebrity influencers. These individuals are ordinary people who have amassed a loyal following on platforms like Facebook, Instagram, YouTube, and TikTok. While many of them managed to grow hundreds of thousands of followers, there are influencers who fall into the nano- and micro categories with followers below 10k and 50k, respectively. Take note, however, that their relatively low number of followers to don’t make them less influential.

it ’s all about authenticity

ONE of the key reasons behind the growing popularity of non-celebrity influencers is authenticity. They tend to have a more genuine connection with their audience. Followers see them as ‘totoong tao,’ rather than distant celebrities, leading to higher levels of engagement and conversion. An interesting example of this is the vlogger

Co Co -Cola and Foodpanda unite to unlo C k the potential o F Ful l-suite advertising solutions MANILA, PHILIPPINES—Coco-Cola, with the help of foodpanda, has seen a significant improvement in sales through various advertising solutions.

As the media landscape evolves, marketers must become more creative in their strategy to capture customers’ attention. Brands are now partnering with streaming services, digital platforms, and media agencies to engage potential customers where they are browsing or shopping. Collaborative partnerships within these networks, such as foodpanda’s panda ads, offer innovative solutions that align closely with consumer

behaviors. It involves placing ads on a retailer’s website or app, like foodpanda, to increase brand visibility and sales for partner merchants and external brand partners.

“This adaptability and direct access to engaged shoppers make retail media an invaluable asset in a modern marketer’s toolkit, pushing brands to transition from conventional advertising to more dynamic, integrated strategies,” said Amer Bakshi, foodpanda Philippines Enterprise Director.

“For foodpanda, brands can enter collaborative partnerships across our verticals from food delivery and pickup to grocery deliveries. We provide them with solutions within our in-app and off-app channels, allowing panda ads to engage with digital-native customers who want greater choice and accessibility, convenience, and a personalized experience.”

a refreshing collab I N SIDE r I ntelligence fore -

behind the Miss Ginbilog account whose first video showing her drinking a full bottle of gin in one sitting became viral—gaining her millions of followers who continue to relate to her funny videos about her daily life and tagay adventures. One may argue that her popularity now puts her among the ranks of celebrities, but her videos still reflect the ‘ordinariness’ of her lifestyle as she is still seen taking the tricycle, eating in neighborhood karinderias and just living her normal life. But take note that in recent months, she has been regularly engaged by a top local gin brand to appear in their events, has guested in a number of TV shows and even has a billboard endorsing a beauty product!

a niche ‘expertise’ AN OTHE r factor fueling the rise of non-celebrity influencers is their niche expertise. Many micro-influencers have built their following by focusing on specific topics or interests, such as fashion, beauty, fitness, travel, or personal finance and investment. For instance, you may not have heard of the young Tiktok influencer behind @ready2adultph but her deep knowledge and passion for everything adulting—from living solo to creating multiple income streams—resonate with thousands of followers who follow her on social media. Thus, brands that promote investments and sustainable lifestyles would willingly collaborate with her as part of their campaigns.

A big factor may be their smaller follower base, but most non-celebrity influencers often have higher levels of engagement compared to their celebrity counterparts. They interact with their

casts retail media will be the fastest-growing advertising channel across media through 2027, with annual growth rates exceeding 20 percent.

“As retail media continues to grow, there are even more reasons for brands to utilize it. Partnerships can be creative and take many forms to effectively achieve goals and drive growth to their business.”

For instance, among The Coca-Cola Company’s numerous partnerships in the Philippines, the collaboration with foodpanda has been particularly effective in boosting the brand’s reach, transactions, and online and offline sales. A specially designed campaign encouraged consumers to pair Coca-Cola beverages with specific cuisine favorites, backed by promotions and incentives.

Amer highlighted that the partnership with Coca-Cola is an excellent example of leveraging the full range of advertising options within retail media. “While Coca-Cola is a well-established name in the

followers regularly, respond to comments, share personal stories, and provide valuable insights.

democratizing the landscape

T HE rise of non-celebrity influencers has also democratized the influencer marketing landscape. A few years back, we worked with a local brand of personalized baby apparel. Because of their limited budget, we recommended engaging nano- and micro mommy influencers to create awareness on their first collection. Thanks to these reliable non-celebrity influencers, this brand was able to create noise on socials and continue to sell hundreds of pieces online, at a fraction of what a celebrity endorser would normally cost.

This democratization has leveled the playing field, en -

beverages industry, standing out and effectively engaging with the target audience remains a challenge. Through panda ads, we offered them innovative advertising tools across both in-app and offapp channels, aiding them in driving growth and increasing campaign sales.”

To further drive top-ofmind for the brand, the campaign incentivized users via occasion penetration during special occasions like Christmas, Valentine’s, or Mother’s Day. “We know that Christmas is a special time for Filipinos to eat with their family, so we specially mounted a campaign for this season by combining meal orders with Coke beverages. The partnership was seamlessly integrated into the ‘Pasko (Christmas) Like a Panda’ campaign, aligning CocaCola with moments of joy and capitalizing on increased holiday shopping.”

He also added that the full range of customer communication channels was used to maximize the campaign’s

abling smaller brands to compete with more established brands and reach their target audience effectively, without spending millions of pesos.

Non-celebrity influencers a lso offer brands the opportunity to tap into niche markets and engage with highly targeted audiences. Whether it’s buying/selling second hand cars, going on motorcycle road trips or DIY home decor, there’s an influencer for almost every niche imaginable.

Obviously, the growing popularity of non-celebrity influencers represents a significant shift in the influencer marketing landscape. Sure, they are non-celebrities and their follower base might just be an iota compared to mega influencers, but one should not underestimate their power to influence. And as recent trends arguably prove, it prob -

reach, covering both online and offline. “Others might get the impression that panda ads would only utilize in-app promotions, but there are other channels and strategies to do.

Some examples of the advertising solutions that we for Coca-Cola did include customer relationship management (C r M ) ads, online branding, social media takeover, in-app activations, influencers, and P r drops as well as voucher promotions, billboards on highways, digital out-of-home, and condo ads.”

Through foodpanda’s “FPasko” initiative, a gamified activity was launched, which featured Coca-Cola as one of the major brand partners. “By associating the campaign with the cultural significance of Christmas, it deeply resonated with the target audience, driving engagement and participation from both app users and Coca-Cola enjoyers,” Amer explained.

the output D E NISE rECOMONO, E com -

ably won’t be long before they shed they non-celebrity status and be elevated to the expensive levels of social media stars.

PR Matters is a roundtable column by members of the local chapter of the United Kingdombased International Public Relations Association (Ipra), the world’s premiere association for senior communications professionals around the world. Edd Fuentes is the founder and CEO of FuentesManila, a Manilabased PR agency founded in 1990. Edd is a Board Member of IPRA Global representing South Asia for the last 7 years.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com

merce Senior Manager at The Coca-Cola Company, revealed that their campaign run on panda ads increased year-onyear total brand performance. “In the fourth quarter of 2023 alone, we ended the year with a bang by bagging 40 percent uplift in Coke Sales during our gamified Christmas campaign, garnering over a billion impressions.”

“foodpanda is a dream to work with insights-driven recommendations, agile pivots where needed, and diligently looks over end-to-end execution until campaign end,” shared Denise.

“We offer advertisers the opportunities to tap into our full-funnel marketing solutions on foodpanda and tailor the channels to help the brands reach their objectives. I believe this makes panda ads stand out from other partnerships,” Amer ended. To learn more about the partnership of foodpanda and The Coca-Cola Company, visit the website or watch the video.

SBG ups support for Olympic bets

SENATOR Christopher “Bong” Go reiterated his appeal to government and stakeholders to fully support Filipino athletes who have qualified for the Paris Olympics in July.

A s of Sunday, boxers Carlo Paalam and Hergie Bacyadan clinched tickets to Paris from the Bangkok qualifiers over the weekend raising to 14 the number of Filipinos who have so far qualified for the Games.

I n line with this call, Go expressed his intent to provide financial support to the Filipino Paris Olympians worth P500,000 each for their final preparations and training ahead of the July 26 to August 11 Games.

The support, according to Go, is in collaboration with the Philippine Sports Commission.

Our athletes to Paris need our full support,” Go said. “They deserve to be financially supported accordingly as they prepare for the biggest sports competition in the world.”

G o also reflected on the broader implications of supporting the athletes.

“ The success of our athletes is the success of the entire Filipino nation,” he said. “This will showcase the ability of the Filipino

I

2021, in response to a request from the PSC, Go facilitated the approval of additional allowances for athletes who competed in the Tokyo Olympics and Paralympics.

B8

Monday, June 3, 2024

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

Carlo and Hergie are Paris-bound!

By Josef Ramos

BANGKOK—Carlo Paalam and Hergie Bacyadan earned their tickets to Paris after booking one convincing victory after the other in boxing’s final Olympic qualifier— Boxing Road to Paris World Olympic Qualification Tournament—at the Indoor Stadium Huamark.

Paalam will return to the Olympics and try to improve on the men’s flyweight silver medal he bagged in Tokyo after, this time at featherweight, overwhelmed India’s Sachin Sachin, 5-0, on Saturday night.

B acyadan followed suit on Sunday afternoon with an equally impressive 5-0 victory over Venezuela’s Maryelis Yriza, impressing Philippine Olympic Committee president Abraham “Bambol” Tolentino and secretarygeneral Atty. Wharton Chan and Association of Boxing Alliances in the Philippines chairman Ricky Vargas who were in the stands wildly supporting their campaign.

“ When I heard the bell, I kept pouncing on her over and over again,” Bacyadan told BusinessMirror. “I knew I hurt her that’s why I chased her aggressively.”

Bacyadan, 29 and fighting out of Tabuk Kalinga, pummeled her 21-yearold rival to the hilt prompting the referee to give Yriza a standing eight count just before the bell in the third round.

“ I’m happy with the result of my hard work and sacrifices,” said Bacyadan, a convert from wushu’s sanda and vovinam where she was a former world champion. “I was sick, couldn’t perform when I started my training. I got zero in my training camp.”

She added: “There was a point when I wanted to give up, but my family is always there to cheer me up when I’m down. Now it’s good to be in the Olympics.”

B oxing now has five boxers to Paris—with Tokyo 2020 silver medalist Nesthy Petecio and bronze medalist Eumir Felix Marcial and Aira Villegas— and the Philippines has a total of 15 athletes so far who are booked for the Summer Games.

Coo bags silver in Asian BMX championships

PATRICK BREN COO clinched the silver medal at the 2024 Asian Cycling Confederation BMX Championships in Thailand to validate further his rising potential in the discipline.

The silver medal he clinched at the Kamol Sports Park in Nong Chok on Friday came after his men’s elite bronze medal last year at the Hangzhou Asian Games and the gold medal he captured as a junior rider in the 2019 Asian championships in Malaysia. “ I’m so blessed and I’m happy that all my hard work are

C oo finished behind Thailand’s

ace Komet Sukprasert, who won his third straight Asian championships gold medal as he gears up for the Paris Olympics. Japan’s Shimada Ryo completed the men’s elite podium of the championships that gathered more than 500 athletes in Asia. My congratulations to Patrick, he’s been working hard and his dedication and passion for BMX is getting stronger each day,” said Philippine Olympic Committee president Abraham “Bambol” Tolentino, also head of the national association for cycling, PhilCycling.

Smoking Dragon

“I JUST stay positive, brother. I always look at things from the other perspective. I stay focused. I stay hungry. The dragon may sleep for now, but I assure you he is smoldering and cannot wait to spout fire and destruction.”

Sounds like a younger Hulk Hogan, right? Something out of a pro wrestling script while the only thing missing are Twinkies, taking one’s medicine, and saying one’s daily prayers. Actually, no. That is today. June 2024. This is Ricky Turcios. L et me say that again. Not Ricky “The Dragon” Steamboat (although he comes close). This is 30-yearold mixed martial arts fighter Ricky Turcios who is of Filipino-Salvadoran-American heritage.

W hile he dug pro wrestling as a young lad, mixed martial arts was his calling. Unlike pro wrestling scripts that are tailor fit for faces and heels, Turcios’ positive and energetic image is real.

I wear my heart on my sleeve, he said. “I am who I am and I am not going to pretend to be something I am not. I choose to be happy, positive, and always looking

A lready in their final preps for the Olympics are fencer Samantha Catantan, gymnasts Carlos Yulo, Emma Malabuyo, Aleah Finnegan and Levi Jung-Ruivivar, pole vaulter EJ Obiena, weightlifters Vanessa Sarno, John Febuar Ceniza, and Erleen Ann Ando and rower Joanie Delgaco. They’re both very determined to qualify for Paris, you could feel their desire,” Tolentino said. “Fifteen athletes and counting, we hope to have more athletes in the Olympics.”

PAALAM KEPT PAIN TO HIMSELF

HEART and mind took over then it mattered most for now two-time Olympian Carlo Paalam.

I still feel pain in my right shoulder since the first day here [Bangkok],” Paalam confided to BusinessMirror on Sunday. “But I was able to move unlike in Italy—I fought in pain and I’m very thankful I overcame the challenges.”

Paalam’s long-time coach, Elmer Pamisa, clarified his ward’s shoulder won’t be an issue anymore.

His shoulder looks fine although

a physical therapist is always there to check on it,” Pamisa said. “It all Paris for him now.”

It was tough training and recuperating at the same time for Paalam, who opted not to join his teammates in a training camp abroad.

My decision to stay in Baguio City for my with coach Pamisa proved to be a right decision,” he said. “I knew from the very start that I could focus better in Baguio rather than to be abroad.”

Paalam sustained the injury in in the first qualifier in Italy and had to

undergo therapy in Cagayan de Oro City and Baguio City that caused him to miss a two-week camp at the US Olympic Boxing Training in Colorado Springs last April. Paalam only joined the team in Bangkok last month. I was a little bit depressed of what happened, but I never gave up on my dream,” he said. “It’s for the country, my wife [Earl Shayne] and my daughter [Celeste], and for those who believe in me.” Celeste Paalam is turning one year old on June 12.

Carlo’s very determined for Paris–Tolentino

CARLO PAALAM found himself reeling against the ropes but amazingly managed to squeeze out of his predicament and is now on his way to Paris. I always believed that Carlo is a certified Olympian,” said Philippine Olympic Committee president Abraham “Bambol” Tolentino moments after Paalam put away the fifth and last stumbling block—India’s Sachin Siwach—for his return to the Olympics after clinching gold in boxing’s men’s flyweight in Tokyo 2020.

winning all five bouts here in Bangkok,” Tolentino added.

The odds went against Paalam in the first Olympic qualifying tournament last March in Busto Arsizio where he couldn’t continue because of a shoulder injury.

At the second and last Paris qualifiers in Bangkok, Paalam toppled five opponents in a week’s span for his Olympic ticket—Greece’s Alexei Lagkazasvili (5-0), Turkmenistan’s Shukur Ovezov (5-0), Armenia’s Artur Bazeyan (4-1), the Dominican Republic’s Jose Feliz de los Santos (5-0) and finally Siwach (5-0).

P aris Olympics berths went to the last four standing boxers in all divisions in Bangkok.

“I know and feel Carlo could bring his winning act to Paris,” said Tolentino,

forward. Who needs the angry and bitter attitude? It’s a waste of energy.”

Turcios was supposed to take rising star MexicanAmerican Raul Rosas Jr. in the February 25 UFC Fight Night but the night before the bout, Rosas fell ill. The match was rescheduled the week after on March 3, but the night before the fight, a UFC official told Turcios to stand down because the effects of Rosas’ illness did not subside.

There was no other opponent to fight. This is it—Ricky Turcios (13-3-0) versus Raul Rosas Jr. (8-1-0).

W hen Turcios enters the Octagon this coming June 9, it will have been one year and seven months since he last fought inside the Octagon.

I used all this time to stay in shape, work on my skills. When the fight against Rosas was postponed, I found the time to tweak my strategy and work on more things to improve my game,” he said. “I am fortunate enough to be able to fight in the sport I like and to be in the top combat sports organization in the world. Why mope? There are so many positive things to celebrate.”

O ne of which he will be fighting in the co-main event of UFC Fight Night.  When you are in the main card—co-main event,

who’s in Bangkok with his POC secretarygeneral Atty. Wharton Chan to cheer the Filipino boxers sent by the Association of Boxing Alliances in the Philippines led by chairman Ricky Vargas. Paalam became the country’s 14th  athlete to qualify Paris after fellow boxers Eulir Felix Marcial, Nesthy Petecio and Aira Villegas, fencer Samantha Catantan, gymnasts Carlos Yulo, Emma Malabuyo, Aleah Finnegan and Levi Jung-Ruivivar, as well as pole vaulter EJ Obiena, weightlifters Vanessa Sarno, John Febuar Ceniza, and Erleen Ann Ando and rower Joanie Delgaco. Hergie Bacyadan went for her own Paris ticket in women’s 75 kgs class against Venezuela’s Maryelis Yriza on Sunday afternoon.

Fresh challenges await pros as PGT heads to Lakewood in Nueva

Ecija

T HE men of the Philippine Golf Tour (PGT) brace for a duel of ball control, precision and accuracy in the International Container Terminal Services Inc. (ICTSI) Lakewood Championship starting Tuesday i n Nueva Ecija. The Lakewood Golf and Country Club in Cabanatuan City is hosting a tournament of national caliber for the first time thus presenting a new kind of challenge with its unfamiliar terrain and greens. W hile the cast has played the course once or twice during practice rounds, several pros get their last

baby—they know and see your potential,” Turcios observed.

“There is more scrutiny in the main card and that serves as added motivation.” It is easy to sulk, mope, or even fall into depression. “So easy,” he noted. “Easy to fall into that rabbit hole but so hard to get out.

“

before

in the stretch, settling for a runner-up finish. However, the 19-year-old Korean is eager for another shot at a breakthrough win, along with Aidric Chan, who finished solo sixth, and Ryan Monsalve, who ended up seventh after leading the first two rounds.

A couple of aces who won two of the first four legs of this year’s 10-stage tour, organized by Pilipinas Golf Tournaments Inc. and supported by official apparel Kampfortis Golf, also seek to redeem themselves from mediocre performances at the Masters, including Apo leg winner Jhonnel Ababa and Caliraya Springs champion Clyde Mondilla.

PHILIPPINE Olympic Committee president Abraham “Bambol” Tolentino congratulates Carlo Paalam with his daughter Celestem who turns a year old this June 12.

PATRICK COO (left) with gold winner Komet Sukprasert of Thailand and bronze medalist Shimada Ryo of Japan.

FROM the mountains of Tabuk Kalinga to the magnificence of Paris, Hergie Bacyadan has secured herself a ticket to the Olympics.