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Wednesday, June 9, 2021 Vol. 16 No. 238

P25.00 nationwide | 2 sections 22 pages | 7 days a week

APRIL FACTORY DATA UP ON CONSUMPTION, INFRA n

WORLD BANK LOWERS GROWTH OUTLOOK FOR PHL TO 4.7%

HE World Bank has downgraded its economic growth outlook for the Philippines for the second time this year due to the reimposition of the Enhanced Community Quarantine (ECQ) and the spike in Covid-19 cases. In the Philippine Economic Update (PEU) report, the Washington-based lender said

Philippine GDP growth is now projected to reach 4.7 percent this year, lower than the 5.5 percent projected in March and 5.9 percent projected in December. The World Bank also cut its growth expectations for 2022 to 5.9 percent from the 6.3 percent projected in March See “World Bank,” A5

As the government eases quarantine restrictions, more entrepreneurs are opening up their former small businesses, like this barbecue vendor on Urban Avenue, Makati City. The government on Monday rolled out a coordinated effort to ramp up vaccination for economic frontliners under the “A4” category. BERNARD TESTA By Cai U. Ordinario

@caiordinario

HE resumption of the government’s infrastructure program and rebound in global consumer demand benefited the local manufacturing sector, as factory output more than doubled in April. See “Factory,” A2

PESO exchange rates

PHL rice imports contracted by 11.8% in Jan-May–report By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s rice imports in Januar y to May declined by 11.8 percent to 1.026 million metric tons from 1.163 MM T l ast yea r, l atest Bureau of Plant Industr y (BPI) data showed. BPI data obtained and analyzed

by the BusinessMirror showed that the volume of rice imports during the 5-month period was 137,141.602 MT lower than the previous year’s volume. V iet n a m rem a i ned a s t he country’s top import source as it accounted for 91 percent of the total volume. See “Rice,” A2

n US 47.6920 n japan 0.4366 n UK 67.6416 n HK 6.1465 n CHINA 7.4561 n singapore 36.0593 n australia 36.9804 n EU 58.1461 n SAUDI arabia 12.7179

Source: BSP (8 June 2021)

BusinessMirror

Wednesday, June 9, 2021

Publishing industry loses ₧3.6B to ‘unfair’ modules production By Tyrone Jasper C. Piad

@Tyronepiad

COPYRIGHT licensing group estimated that the book publishing industry lost about P3.6 billion in revenues last year because of “unfair” production of learning materials and modules and closure of private schools. Filipinas Copyright Licensing Society Inc. (Filcols) Executive Director Alvin J. Buenaventura, in a recent statement, said that the Department of Education’s (DepEd) recent mandate in the production of learning materials for the students amid the pandemic contributed to the industry’s losses. “The agency also released Department Order 18, s. 2020 which directed teachers to produce learning materials and modules for the students. This resulted in many errors, some of which even went viral. Then, the schools are ordered to mass produce the same. For us, this is

Rice. . .

Continued from A1

However, rice imports from Vietnam during the January-to-May period declined by 3.2 percent to 937,309.55 MT from 968,329.885 MT recorded a year ago. BPI data also showed that rice imports from Myanmar declined

clearly unfair use,” he explained. Citing the Book Development Association of the Philippines, Buenaventura said that the industr y incurred a 60 -percent cut in revenue last year follow ing the order, including losses due to closing of private schools. The pre-pandemic revenue of the industry, meanwhile, was P6 billion, he said. “Deducting the combined loss of 60 percent will give us an estimated loss of P3.6 billion,” Buenaventura explained. “Teachers are trained to teach. Developing learning materials like textbooks and modules require a different skill set. This department order resulted in market failure and loss of income for our authors and publishers,” he lamented. Buenaventura stressed that the books or substantial portions of them, once published and sold, should not be reproduced without securing the author’s permission unless it is covered by fair use. He ex plained that only a “small

by 44.4 percent to 35,897 MT from 64,569.105 MT. Rice imports from Thailand expanded by 49.14 percent to 73,359.83 MT from last year’s 49,187.98 MT. BPI data showed that as of June 4, NAN STU Agri Traders topped the list of importers with a total volume arrival of 57,060 MT followed by Macman Rice and Corn Trading at 55,000 MT.

portion” of the books is allowed for reproduction. “Sadly, there is a culture of unfair use masquerading as fair use in our country,” the Filcols official added, explaining this undermines copyright laws. In a way, Buenaventura said that the DepEd v iolated the Book Publishing Industry Development Act of 1995 or Republic Act 8047, which privatized the textbook market. “The main aim is to open the public schools market to the private sector so that these publishers may grow and become globally competitive. This also allowed them to hire more people thus creating jobs,” he told the BusinessMirror. Under the R A 8047, Filcols noted that the DepEd ’s task is only to prescribe the guidelines in preparing the learning competencies and other specifications of the books to be used by public elementary and secondary schools. The National Book Development Board (NBDB), meanwhile, accredits

Data from the attached agency of the Department of Agriculture also indicated that the volume of rice covered by sanitary and phytosanitary clearances (SPS-ICs) sought by traders and importers was lower compared to the previous year’s figure. SPS-IC applications for rice during the period covered 1.937 MMT, which was 37.8 percent lower than the 3.115 MMT

private sector publishers seeking to supply textbooks for the public schools. The publishers, guided by the minimum learning competencies, are tasked with producing and supplying the textbooks, Buenaventura explained. Buenaventura said that the NBDB, following requests from various industry groups, has reached out to stakeholders, adding that DepEd agreed to procure third and fourth quarter modules from the private publishers. “As for Filcols, their reply was they need a longer time frame to determine the copyright license, which in my mind is strange because we have been negotiating with them since May 2020,” he said. “For Filcols and our industry, copyright is the cornerstone that supports the Philippine book publishing industry. Without copyright, our book publishing industry will collapse along with publications like newspapers,” he added.

recorded last year. Monetary Board member V. Bruce J. Tolentino told the BusinessMirror that higher domestic rice harvests, as well as higher international rice prices may be behind the decline in imports. Tolentino also said international rice prices have moved up “due to deliberate efforts by both Thailand and especially Vietnam to dominate the market for high quality and high priced aromatic rice.” “Myanmar is having problems meeting its supply contracts due to domestic unrest. But the increases have been moderated by the growing role of India in the global rice market.” Federation of Free Farmers Inc. National Manager Raul Q. Montemayor said traders may have reduced their rice purchases as their margins have been cut due to the hike in world market prices. Montemayor also said rice wholesale prices are now being influenced by domestic production, thus making importers think twice about buying rice from abroad. “They are really looking at the prices. If they will not earn much from the landed cost then they will reduce [import] volume,” he told the BusinessMirror. Data from the United Nations’ Food and Agriculture Organization (FAO) showed that the average quotation for Vietnam’s 5-percent broken rice and 25-percent broken rice reached $507.4 per MT and $484.6 per MT, respectively. The figures were 36.9 percent and 38.3 percent higher than their respective quotations in the previous year. Also, Thai rice quotations went up by 17 percent to $529.6 per MT (25 percent broken) and by 16.6 percent to $561.2 per MT for the 100 percent broken variety.

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Factory. . .

Continued from A1

On Tuesday, the Philippine Statistics Authority (PSA) disclosed that the Volume of Production Index (VoPI) surged 162.1 percent in April 2021. Last year, the VoPI contracted 64.8 percent. Industries that posted triple-digit increases were led by manufacture of basic metals at 687.5 percent; fabricated metal products, except machinery and equipment, 610.1 percent; furniture, 577.4 percent; wearing apparel, 555.5 percent; and transportation, 436.7 percent. “The opening of the economy late last year and continuing up to the present means positive growth for manufacturing, which, I understand, went down by almost half or even less than half at the height of the lockdowns in 2020,” economist Rene E. Ofreneo, former dean of the University of the Philippines School of Labor and Industrial Relations (Solair), told the BusinessMirror in an e-mail. Ofreneo said the reopening of the economy led to the rebound in industries that are related to construction such as basic metals and fabricated metal products. He added that the reopening also led to a rebound in transport, which explained the rebound in the manufacture of transport equipment. The global recovery also led to an increase in the manufacture of electronics. Based on the data, the manufacture of electrical equipment increased 246.9 percent. Ofreneo said this rebound was linked to the value-chain production of firms that are located in the country’s economic zones. “There is also a rebound in consumption, that’s why there’s a rebound in garments, textiles, media, footwear, etc.,” Ofreneo added. The PSA data showed the printing and reproduction of recorded media saw a growth of 429.9 percent while the manufacture of textiles grew 329.9 percent. In the view of De La Salle University economist Maria Ella Oplas, the data on manufacturing performance is mainly due to base effects. Nonetheless, Oplas said, this is good news for the economy and also points to the recovery of the government’s Build, Build, Build program. “2020 vs 2021 means the output last year was really low. That’s what you call base effect. So that means during the pandemic period we have improved from previous year but not necessarily that we have achieved the pre-pandemic period of production,” Oplas told BusinessMirror.

Container crisis

As for other economists such as Ramon L. Clarete, former dean of the UP School of Economics, the surge in the VoPI was more of a “statistical artifact.” University of Asia and the Pacific economist Victor A. Abola told this newspaper in an e-mail that many of those sectors that recorded “extraordinary year on year growth” practically had zero to minimal operations due to the strict lockdown in April 2020. Clarete said, nonetheless, that the growth is driven by the increase in demand globally and domestically for certain products. However, this improvement may still be affected by the ongoing container crisis. The BusinessMirror earlier reported that the lack of available containers has caused shipment delays of two weeks to one month, affecting the revenues of the exporters. In its latest report, the United Nations Conference on Trade and Development (Unctad) said the crisis pertained to the delays in the maritime supply chain due to constraints amid the pandemic. These include shortage in port labor, port congestion and capacity constraints in trucks, among others—all of which prolong the container dwell times. “They [manufacturing performance] will be affected by logistical constraints and shortages or delays of materials due to logistical constraints. Call it recovery pains. But eventually they will be overcome,” Clarete told the BusinessMirror.

Sustaining recovery

In order to sustain this recovery, Ateneo de Manila University John Gokongwei School of Management Dean Luis Dumlao thinks that, given the performance of the manufacturing sector, it will take more than a 500-percent increase in factory output to go back to prepandemic levels. “These are results of level effects. Because of the lockdown, value and volume declined by roughly 85 percent. Going back to pre-pandemic value and volume entails more than a 500-percent increase. E.g. 100 to 15 translates to 85-percent decline, and 15 to 100 translates to 567-percent increase,” Dumlao said. He said the global recovery will start with the Group of Seven (G7) which consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Dumlao expects this recovery in rich nations to spill over to the Philippines through increased export earnings and import receipts. This may, however, lead to wider trade deficits. However, these trade deficits will be offset by overseas Filipino worker (OFW) remittances. Once recovery is under way in rich nations, more Filipinos can go abroad to start working again.

Manufacturing data

Based on PSA data, the Value of Production Index (VaPI) for manufacturing rebounded in April 2021 as it posted an annual increase of 154.3 percent, from a 74.2-percent contraction in March. The year-on-year growth rate in April 2021 was the first positive growth since April 2019 and the highest annual increase in the 2018-based data series. In April 2020, VaPI dropped at an annual rate of 66.6 percent. The increment in VaPI was brought about by the positive growth rates of 20 industry divisions, 14 of which posted tripledigit annual growth rates with manufacture of basic metals as the highest at 729.1 percent. On the other hand, the remaining two industry divisions— manufacture of coke and refined petroleum products; and manufacture of basic pharmaceutical products and pharmaceutical preparations— recorded double-digit declines of 24.5 percent and 19.4 percent, respectively. Data also showed that the average capacity utilization rate for the manufacturing sector increased in April. Based on responding establishments, the average capacity utilization rate for the manufacturing sector in April 2021 rose to 63.6 percent from 63 percent in the previous month. A total of 18 of the 22 industry divisions had at least 50 percent average capacity utilization rate. This was led by the manufacture of furniture which posted an average capacity utilization of 81.3 percent. This was followed by the manufacture of other non-metallic mineral products, which posted an average capacity utilization rate of 80.9 percent and manufacture of electrical equipment at 75.2 percent.

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Adeluis Bordado named new Navy chief

Senators press for Committee of the Whole inquiry in vaccine procurement By Butch Fernandez @butchfBM

BORDADO By Rene Acosta @reneacostaBM

SEASONED naval officer has assumed the leadership of the Philippine Navy, succeeding Vice Admiral Giovannie Carlo Bacordo who retired on Tuesday, one day short of his mandatory retirement from the service. Rear Admiral Adeluis Bordado, a member of the Philippine Military Academy Class of 1988, assumed the reigns of the Navy from his previous post as vice commander. Born in Calabanga, Camarines Sur on September 9, 1966, Bordado was commissioned into the service with the rank of an ensign where he later rose from the ranks, holding different positions. He had commanded the Navy’s Naval Installation Command and served as chief of the Naval Staff. He had also served as the commander of the Armed Forces of the Philippines Education, Training and Doctrine Command. Armed Forces Chief of Staff General Cirilito Sobejana welcomed the designation of Bordado, the only official recommended by the Board of Generals for the top post. “Rear Admiral Bordado is an accomplished naval officer who rose to the hierarchy of the 123 years old Philippine Navy passing through the different command, leadership, management, and staff positions—not only in the Philippine Navy but in the AFP [Armed Forces of the Philippines] as well,” he said. “The wealth of his experience, his well-rounded education and training locally and abroad and his personal attributes make him an excellent choice to lead the Philippine Navy at this time that the AFP faces various internal and external security challenges,” he added. Bordado will oversee the ongoing modernization program of the Navy under which the delivery of ordered assets and the signing of contracts have been delayed due to the Covid-19 pandemic.

Editor: Vittorio V. Vitug • Wednesday, June 9, 2021 A3

ENATORS are pressing for another Committee of the Whole inquiry to ensure transparency on the use of billions of pesos in funding the government’s Covid-19 vaccine program. Among those who sought a detailed, updated report from the Executive on what funds have so far been obtained and used for the vaccines are Senators Panfilo Lacson, Francis Pangilinan and Minority Leader Franklin M. Drilon. Their push for an inquiry comes on the heels of a request for additional funding for vaccines to be included in the annual budget, even as the government has borrowed money for the purpose, and received donations of vaccines. In demanding transparency, Lacson said Tuesday he wants health authorities to explain supposed need for an additional P25 billion supposedly to procure Covid-19 vaccines. Lacson said the P25 billion, when added to the existing P82.5billion appropriations for vaccines this year, could result in an oversupply of vaccines—or worse, be lost to corruption. “Based on the arithmetic I did,

the P107.5 billion is way too much for buying the vaccines needed to achieve herd immunity—unless they know something we don’t. But the bottom line is, it is not their money, it’s the public’s. I can only hope the excess amount will not go to corruption,” he said. “More importantly, has the government made a commitment to procure the vaccines at such prices? It is important that the officials concerned explain how they will spend the amount. If they have not committed to buy yet, they should exercise restraint in spending our resources which are severely limited already due to the pandemic,” he added. Lacson said that if the P107.5 billion were to be used to buy Moderna vaccines at $26.83 (P1,383) per dose, it would buy 83.78 million doses. If the amount were to buy Sinovac brand vaccines at P683 per dose, it would be enough for 157 million doses, or more than 75 million Filipinos—more than the targeted 70 million to attain herd immunity. “Hindi sa nagbibintang tayo pero nag-iingat tayo. Pera nating lahat yan, hindi nila pera ’yan [We are not accusing anyone but we should be careful with public funds. It’s the people’s money, not money of some individuals],” Lacson stressed.

He added that if needed, he will strongly suggest to Senate President Vicente Sotto III to have the officials concerned explain this to the Senate exercising its oversight functions, as a Committee of the Whole. On the other hand, he said, the officials concerned may explain the spending through other platforms. He added they can also take the matter up with vaccine czar Carlito Galvez Jr., who he said has asked for a meeting with senators. “I hope they can be more transparent,” he said.

Pangilinan: Senate hearing needed

FOR his part, opposition Senator Francis Pangilinan asserted that additional spending on the procurement of Covid-19 vaccines needs to be subjected to a Senate hearing. Earlier, Budget Secretary Wendel Avisado said the Duterte administration needs an additional P25 billion on top of the P82.5 billion allocated for vaccine procurement under the Bayanihan to Recover As One Act or Bayanihan 2. “We have to scrutinize this suggestion to enlighten the public on the vaccine budget shortage. How come the budgeted amount remain insufficient? Where did the money

Group seeks full transparency into BARMM’s ₧160-billion budget spending in ’20 and ’21

GOOD governance advocate has assailed the “questionable” combined total budget of more than P160.8 billion for the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) covering the years 2020 and 2021. The 2020 annual budget for BARMM was P75.6 billion which was eventually increased to P85.2 billion for 2021. Jhannah Villegas, Mindanao director of Malayang Lipunan Movement (MLM), noted that as gleaned f rom t he budget, substantial amount is under the Maintenance and Other Operating Expenses (MOOE) that includes but not limited to Supplies and Materials. “We demand absolute transparency on where all these moneys went if we want the BARMM to succeed and not go the same way as the failed Autonomous Region in Muslim Mindanao [ARMM],” Villegas stated. “For instance, prudence dictates that with a P6-billion budget for supplies for a year is highly questionable, unconscionable, extravagant and highly immoral,” Villegas said.

Records show that in 2020, the total Supplies and Materials of BARMM Government was P2,717,741,060 and it ballooned to more than P6 billion for 2021, around 120.20-percent increase. The MLM director said it is worth noting that the BARMM government is still in the process of recruitment such that, various field offices in the five provinces are still not in its full capacity. “It is a blunder that you have a huge budget for supplies and materials and no personnel are doing administrative or clerical works. Still, the amount is very huge and mind-boggling,” Villegas stressed. Earlier, Sen. Imee Marcos filed Senate Resolution 729 on May 24 2021, directing the Senate Committee on Finance to conduct an inquiry into the expenses on rehabilitation, development projects of conflictaffected community in the region, saying “there is too little progress and change in the Bangsamoro Autonomous Region in Muslim Mindanao [BARMM].” The senator said under the General Appropriations Act (GAA) of 2020, the BARMM was allocated an annual appropriation of P7 bil-

lion, an Annual Block Grant of P63.6 billion, and a Special Development Fund of P5 billion. In addition to this, under the 2021 GAA, the BARMM was also given an annual appropriation of P8.6 billion, an Annual Block Grant of P71.6 billion, and a Special Development Fund of P5 billion. “Prior to the establishment of the BARMM, the Autonomous Region in Muslim Mindanao [ARMM] was allocated an annual appropriation of P32.4 billion and Adjustments of P7.2 billion with Total Available Appropriations of P39.7 billion,” Marcos said. “Thus, as compared to the ARMM appropriation of only P39.7 billion, the total BARMM allocation was higher, amounting to at least double the amount of the budget allocated to the ARMM,” Marcos said. “Despite these allocated appropriations, there is too little progress and change in the BARMM.” “With the huge appropriations made in the GAA for 2020 and 2021, it is imperative for Congress to determine the status of the projects implemented especially since the Bangsamoro government is still in its transition stage,” Marcos added.

go? There are lot of questions to be answered that would necessitate a Committee of the Whole meeting,” Pangilinan said in Filipino. The Senate Committee of the Whole convened early this year to probe the government’s Covid-19 vaccination plan following a privilege speech delivered by Pangilinan in December 2020. The senator asserted, however, that it is once again time to check on the progress of the vaccine roll out half a year later. “We wrote to Senate President Sotto about this matter last March and he said that he is open to reconvening. We hope we can do so even while in sine die adjournment so we can take necessary steps to further improve our vaccine roll-out,” Pangilinan said. Other signatories to the letter are Senate President Pro Tempore Ralph Recto, Minority Leader Franklin Drilon, and Senators Risa Hontiveros, Leila de Lima, and Nancy Binay. Budget Secretary Avisado also announced that President Duterte has approved the release of an additional P2.5 billion from the 2021 contingency fund for the procurement of 4 million doses of Covid-19 vaccine. The Department of Budget and

Management further noted that it has already released P59.39 billion of the P70-billion budget of the Department of Health for vaccine procurement. As of June 6, a total of 9,329,050 vaccines have so far been delivered to the Philippines from various manufacturers. Of the 6.5 million Sinovac vaccines, 5.5 million were purchased by the government and 1 million were donated. Some 2.5 million AstraZeneca and 193,050 Pfizer vaccine doses also arrived from the Covax facility. The Philippines has so far administered 5,180,721 doses of vaccine, with 3,974,350 for the first dose and 1,206,371 for the second dose as of May 30, 2021.

‘Cash sweep’ needed

EARLIER on Monday, Senate Minority Leader Franklin M. Drilon suggested that government do another round of “cash sweep” to identify and generate funds to cover the payment for Covid-19 vaccines and their immediate rollout when the bulk of the vaccines arrive. Drilon, however, said the funding sources should also be scrutinized, noting how billions in contingency funds are already being used for unclear purposes.

Govt reassures assistance to jeepney drivers, operators affected by scourge By Jovee Marie N. Dela Cruz @joveemarie

ITH a little help from the House Committee on Metro Manila Development, the Federation of Jeepney Operators and Drivers Association of the Philippines (FEJODAP) on Monday said the Department of Transportation (DOTr), Land Transportation Franchising and Regulatory Board (LTFRB) and the Department of Labor and Employment committed to extend help to pandemic affected drivers and operators in starting up their own small businesses. The FEJODAP, in a news statement, told the House Committee on Metro Manila Development Chairman Rep. Manny Lopez of Manila that the assistance for thousands of drivers and operators will come from the Integrated Livelihood Program and Emergency Employment Program (DILEEP). The program provides access to livelihood and entrepreneurship programs to poor, vulnerable and marginalized workers with the aim increasing their income to help and keep them above poverty. In times of crisis, DILEEP provides immediate stop-gap measures in

the form of emergency employment to replace income loss and strengthen resilience of workers affected by shocks against risks and contingencies. Moreover, the FEJODAP also told Lopez that drivers and operators also have the option to avail of other skills training with Technical Education and Skills Development Authority for those who opt to continue with the modernization program or consider other employment opportunities. Meanwhile, the group commended Lopez for helping public-utility jeepney drivers and operators. FEJODAP National President Ricardo Rebaño lauded Lopez after the lawmaker assisted the transport workers with LTFRB to air their queries and requests, which LTFRB Chairman, Atty. Martin B. Delgra III, immediately acted upon. Last May 26, 2021, FEJODAP welcomed the LTFRB’s response in providing the requested list of permitted routes and the clarifications on the industry consolidation of individual franchise operators. Rebaño said the LTFRB assured his group that they remain to be sensitive in considering the plight of the stakeholders, especially during this time of pandemic.

Beaches, parks, forest trails beckon as Subic OKs leisure travel for all ages By Henry Empeño Correspondent

UBIC BAY FREEPORT—The long wait for the chance to enjoy beaches, parks, forest trails and other tourism sites in the Subic Bay Freeport is finally over after the Subic Bay Metropolitan Authority (SBMA) allowed leisure travel here for persons of all ages—even for residents of the National Capital Region (NCR) and neighboring areas that just recently eased down to general community quarantine (GCQ). SBMA Senior Deputy Administrator Ramon O. Agregado said the Subic agency released new travel guidelines over the weekend after the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) issued Resolution 118-A that allowed point-to-point travel from NCR and the provinces

THE Pamulaklakin nature park, which serves at the gateway to the Pastolan Ayta Village, is a top tourism attraction in the Subic Bay Freeport Zone

of Bulacan, Rizal, Laguna and Cavite to areas under modified GCQ without age restrictions.

T h is opened Subic’s gates practically to everyone—from infants to seniors, but with strict

enforcement of established safety protocols. “It’s a significant step forward from when visitors from NCR-Plus can enter Subic only for business purposes, and when we required proof of business appointments,” Agregado said. “But we will continue to strictly implement existing health safety protocols despite some relaxation in border controls.” Agregado said the SBMA “will conduct 100 percent inspection” of travel requirements at Subic gates, and continue to strictly enforce rules on minimum health measures and physical distancing in all areas in the free port. While the new travel guidelines allow entry without age restrictions, Agregado pointed out that the IATF nevertheless required those under 18 years and over 65 years of age to present a negative

RT-PCR (reverse transcriptionpolymerase chain reaction) test result when entering Subic. He added that the previous requirement for negative RT-PCR results still applies to visitors who will stay in Subic for at least four days and three nights, regardless of age and place of origin. “We have gained this additional freedom, so to speak, because we enforced safety protocols before and we’ll continue doing so to be

able to open up more business in Subic,” he added. Meanwhile, SBMA tourism manager Jem Camba said that Subic continues to be the go-to destination in Central Luzon because of its beaches, rivers, mountain trails, theme parks, and shopping centers. She said the new protocols already allow seniors in retail establishments, even when customer capacity is still kept at a maximum of 50 percent.

A4 Wednesday, June 9, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

DA reports decline in ASF outbreaks

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE number of active African swine fever (ASF) outbreaks in the country is continuously declining as it has fallen to just 19 barangays in nine provinces, the Department of Agriculture (DA) said.

DA data showed as of June 4, active ASF cases are only observed in 19 barangays nationwide, noting that the government’s efforts against the dreaded hog disease has been effective. In a virtual news briefing on Tuesday, the DA said the ASFaffected barangays are located in Abra, Apayao, Mountain Province, Ilocos Norte, Cagayan, Eastern Sa-

mar, nine in Leyte, two in Northern Samar, and Davao Occidental. In terms of ASF positive samples, the DA’s Bureau of Animal Industry (BAI) recorded only 176 positive samples in May, the lowest in a year or since the 152 ASF positive samples recorded in May of last year. The DA-BAI recorded a spike in ASF positive samples in April at 520, putting a halt to the three-month skid

since January, due to lingering presence of the fatal hog disease in areas that had previously active cases. “The ASF positive samples increased in April because around this time our early warning system or surveillance program was active. And we were testing the environment, so these samples included environment samples. It doesn’t mean that there’s an active outbreak,” BAI Director Reildrin G. Morales said. Citing the declining active cases and ASF positive samples, Morales said in two to three years time the country would have a “good handle” of the nationwide ASF situation. DA data showed that since August 2019, ASF has affected a total of 2,787 barangays in 523 cities/ municipalities across 49 provinces in 12 regions. The numerous outbreaks resulted in the culling of 475,638 pigs nationwide with 64,704 farmers affected by the situation, based on the data

released by the DA on Tuesday. In terms of ASF indemnification status, the DA said it has distributed P1.553 billion to 37,675 hog raisers, corresponding to a total number of cull pigs paid of 316,911. The ASF has devastated the country’s hog industry resulting in pork shortage that drove retail prices to skyrocket to as high as P400 per kilogram in recent months. The government is banking on its twin measures of increasing the minimum access volume for pork imports by 200,000 metric tons (MT) and reducing pork tariffs to as low as 10 percent to boost domestic supply and pull-down high retail prices. Latest price monitoring report of the DA showed that as of June 8, the retail price of pork ham (kasim) in Metro Manila wet markets range from P300 per kilogram to P370 per kilogram while pork liempo range from P340 per kilogram to P390 per kilogram.

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POEA Independence Day fair opens 15K job opportunities By Samuel P. Medenilla @sam_medenilla

VER 15,000 jobs vacancies are now up for grabs in the ongoing virtual jobs fairs of the Philippine Overseas Employment Administration (POEA) for the upcoming 123rd Independence Day celebration. POEA Administrator Bernard P. Olalia said they organized the event with local recruitment and manning agencies to provide employment opportunities amid the novel coronavirus disease (Covid-19) pandemic, which displaced many workers. The bulk of the 16,654 vacancies come from agencies based in the National Capital Region (NCR).

The other employment opportunities are from agencies in Cagayan de Oro (1,403) and Baguio (302). Among the available vacancies are for factory workers, construction workers, cleaners, waiters as well as seamen and messmen. Olalia said interested participants must first register at POEA’s official web site at http://www.poea. gov.ph and then click the virtual job fair link. “They could pick the job and agency they want to apply to then submit their digital or soft copy of their requirements,” Olalia said in a video message posted in POEA Facebook page. “They would then have to wait for the call of the agency for the date and venue of their interview,” he added.

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DOLE–DOTr pact opens job options for displaced OFWs By Lorenz S. Marasigan @lorenzmarasigan

HE Department of Transportation (DOTr) and the Department of Labor and Employment (DOLE) have cemented the government’s initiative of prioritizing displaced overseas Filipino workers (OFWs) in employment opportunities in the transport sector. According to Transportation Secretary Arthur Tugade, he has signed a memorandum of agreement with Labor Secretary Silvestre Bello III that provides OFWs with “employment opportunities in the DOTr through seamless reintegration.” The agreement was signed with the Overseas Workers Welfare Administration (OWWA). “This agreement will serve a dual purpose. First, our repatriated OFWs who are out of work will be able to work under the DOTr. They no longer need to go out of the coun-

try because work is here at home. Second, we will not be looking elsewhere in getting the needed work force to finish various infrastructure projects,” Tugade said. Under the agreement, the DOTr will provide OWWA with a list of vacant positions and skills required where an OFW can apply for work. The DOTr will likewise inform OWWA of other projects that may benefit OFWs. So far, 200 former OFWs were deployed for the Philippine National Railways (PNR) Clark Phase 1. He added that 2,000 more available jobs will be made available to prioritize not only OFWs, but also displaced public-utility drivers and conductors once the project becomes operational. “Using a whole-of-government approach in dealing with this pressing situation, we have partnered with the DOLE and the OWWA to help our OFWs,” Tugade said.

FDA okays Pfizer’s EUA for persons above 12 years old; 4,777 new cases logged By Claudeth Mocon-Ciriaco @claudethmc3

ITING justifiable grounds, the Food and Drug Administration (FDA) has granted the request for revision of the issued emergency use authorization (EUA) to PfizerBioNTech Covid-19 Vaccine to include individuals 12 years of age and older in its indication for active immunization for the prevention of Covid-19. The FDA said that “foregoing revision is made pursuant to the discretionary power of the FDA under Section 6 of Executive Order [EO] 121, entitled ‘Granting Authority to the Director General of the Food and Drug Administration to Issue Emergency Use Authorization for Covid-19 Drugs and Vaccines, Prescribing Conditions Therefor, and for Other Purposes,’ to revisit any issued EUA as may be appropriate to protect the general public health and safety.” In issuing this EUA, the FDA stressed that the “recognition and reliance” have been accorded to the Emergency Use Listing (EUL) of the World Health Organization (WHO), and EUAs given by mature and established National Regulatory Authorities (NRAs) such as the United States of America, United Kingdom, Canada, European Union and Singapore, respectively. “Under Section 5 of EO 121, the Director General of the FDA has been granted power to implement reliance and recognition processes, and accept regulatory decisions of recognized and established regula-

tory authorities.” The FDA also reiterated that the EUA is “not” a marketing authorization or a Certificate of Product Registration (CPR), “Hence, this EUA cannot be used as an authorization to market the vaccine commercially.” Meanwhile, Health Undersecretary Maria Rosario Vergeire said that while, the Department of Health (DOH) welcomes more vaccines that are approved for children and adolescents, “due to limited vaccine supply, our vaccination strategy remains the same— prioritize the vulnerable and adhere to our prioritization framework.” “The general consensus of our vaccine experts is to revisit pediatric and adolescent vaccination once our vaccine supply has stabilized. Vaccine Cluster through Secretary Charlie [Carlito Galvez Jr.] is doing all they can to secure the doses necessary to vaccinate the eligible population for free,” Vergeire stressed.

Additional Covid cases

THE DOH logged 4,777 additional cases on Tuesday, bringing the total number of infections in the country to 1,280,773. There were also 7,122 recoveries and 95 deaths. Of the total number of cases, 4.4 percent (56,452) are active, 93.9 percent (1,202,257) have recovered, and 1.72 percent (22,064) have died. Eight duplicates were removed from the total case count. Of these, 6 are recoveries. Moreover,40casesthatwerepreviously tagged as recoveries were reclassified as deaths after final validation.

Wednesday, June 9, 2021 A5

DOT forecasts 2M to 5M foreign tourists by 2022 By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Department of Tourism (DOT) has projected foreign tourists to reach anywhere from a low of 2 million to as high as 5 million visitors in 2022, the last year of the Duterte administration.

The last time the Philippines recorded 5 million in foreign arrivals was in 2015, when it hit some 5.4 million at year-end. Under the DOT’s National Tourism Development Plan for 2016-2022, foreign arrivals were targeted to reach 12 million. An initial copy of the Reformulated NTDP for 2021-2022 indicated the DOT took into consideration mild, harsh, to severe scenarios based on ongoing developments in source markets in terms of lifting Covid-19 restrictions, as well as projections made by global tourism organizations such as the United Nations World Tourism Organization (UNWTO) and the Pacific Asia

World Bank ...

Travel Association. The UNWTO believes it will take two to three years before global tourism returns to 2019 levels. DOT Undersecretary for Tourism Market Development Benito C. Bengzon Jr. told the BusinessMirror, “We are finalizing the Reformulated NTDP 2021-2022 which will include, among others, the new strategic directions for the next two years. The plan will also include targets under the upside, baseline, and downside scenarios. We are collating inputs of the members of the Tourism Coordinating Council [TCC] to whom we presented the Reformulated NTDP on May 19.”

The TCC was created by Republic Act 9353 (Tourism Act of 2009) and composed of representatives of 25 government agencies and privatesector tourism leaders. Chaired by the DOT secretary, the TCC was meant to coordinate national tourism development efforts. IT is widely believed that the Philippines would have continued recording historic-highs in terms of inbound arrivals if it were not for the Covid-19 pandemic. In 2019, foreign tourists hit 8.26 million, and was projected to rise to 9.2 million in 2020. However, only 1.5 million foreign tourists were recorded in 2020 as Covid-19 hit, forcing many countries, including the Philippines, to close their borders to international travel. This year, inbound arrivals are targeted at 500,000 under a severe scenario; 800,000 (harsh); or 1.2 million (mild). The original target was 10.4 million inbound arrivals. Under the Reformulated NTDP 2021-2022, inbound revenue is targeted at P7 billion in 2021 and P92 billion in 2022, under the severe scenario; P28 billion in 2021

and P161 billion in 2021 (harsh); and P83 billion in 2021 and P231 billion in 2022 (mild). The original NTDP 2016-2022 saw inbound revenue at P776 billion in 2021, and P922 billion in 2022. Separately, Tourism Secretary Bernadette Romulo Puyat explained, “The Covid-19 pandemic has exposed the DOT to various challenges such as global and local travel r�� estrictions�� , travel requirements, the availability of discretionary income to travel and availability of rooms and tour services, as well as the adoption to the new normal protocols and new technology.” She added, market confidence was also a challenge, as “this covers the travelers’ willingness to travel based on available and trusted sources of information on evidence of safety protocols and general public health concerns.” She underscored, “The ultimate challenge comes in balancing our approach towards economic viability, job generation, sustainability, and safety. We have been reiterating our stance that in order to restore traveler confidence, we need to meet, if not exceed, their expectations for tourism in the New Normal.”

(PSA) data in 2018 showed 17.67 million poor Filipinos. This represented a decrease of 6 million from the 23.68 million poor in 2015. This means poverty incidence will increase by 1.4 percentage points to 18.1 percent in 2020 from 16.7 percent in 2018. Kevin Chua, World Bank senior economist, said the bank’s poverty estimates are based on the $3.2 per day threshold set for lower middle-income countries like the Philippines. “Covid-19 pandemic-related shocks, including hunger incidences, have already manifested in higher levels of child malnutrition, especially among the poor,” said Chua. In the most recent World Bank household survey, 2 in 5 households were worried about not having enough food for the following week. Households had difficulty accessing health services due to lack of finances. Three in five households cited this reason for not obtaining the needed medical treatment. Most households reported that their school-aged children were enrolled in school, but the effectiveness of distance learning is

a big concern, especially among poor households. Only 40 percent of the poorest households have Internet access, compared to 70 percent among the richest households. Chua said cash transfers can alleviate food and subsistence conditions. National and local government authorities also need to coordinate their efforts to ensure timely and efficient deployment of these programs. “If wage and non-farm employment increase with the anticipated GDP growth and inflation is stable, the poverty rate will likely decline back to its 2018 level by 2021 and maintain a downward trend through 2022,” the World Bank report noted. The PEU also stresses that mobilizing private sector participation in infrastructure projects will be important as the government faces limited fiscal space in the near term due to slower growth. The report adds that rules on foreign direct investments remain restrictive in the Philippines. Allowing greater foreign participation in the economy can help improve infrastructure and strengthen economic growth. Cai U. Ordinario

At least 500K arrivals this year

continued from a1

as well as in 2023 to 6 percent from the initial forecast of 6.2 percent. “The downward revision for this year was driven by the larger-than-expected contraction in the first quarter, the realization of case resurgence and reimposition of stricter quarantines, and the lingering challenges from elevated inflation and household income losses,” the World Bank said in its report. However, the country’s economic growth is expected to continue improving. The World Bank expects the country’s average potential growth rate to be around 5.7 percent between 2020 and 2029. “The global economic rebound, especially among the country’s trading partners, will boost exports and increase remittances, strengthening recovery in the Philippines,” said Ndiame Diop, World Bank country director for Brunei, Malaysia, Philippines, and Thailand. “The country can take advantage of this development by ramping up vaccination and improving overall pandemic response to control infection rates and boost consumer and business confidence,” Diop added. The World Bank also said the

country’s fiscal deficit will remain elevated at 7.3 percent in 2021 from 7.6 percent in 2020 because of continued public spending to address the pandemic. In the medium term, the report noted that the fiscal deficit will decline as the government winds down its pandemic response and the economic recovery boosts higher public revenues. The recovery will lead to increased tax collection on consumption and trade. Public capital outlays are also expected to grow faster in 2021, but it will slow in succeeding years, constrained by the narrower fiscal space. The government remains committed to pursue its infrastructure investment agenda, with infrastructure spending representing 5.4 percent of GDP in the 2021 budget, although expected to fall to 5.1 percent of GDP in 2022.

Poverty

THE pandemic, the World Bank said, will plunge some 2 million Filipinos into poverty this year compared to 2018. This will lead to over 19 million poor Filipinos this year. Philippine Statistics Authority

Higher jobless numbers in April temporary—econ team continued from a14 The government also hopes that passage of the amendments to the Public Service Act, the Foreign Investment Act, and the Retail Trade Liberalization Act will complement the recovery package. To speed up the vaccination program, the government expanded the A4 vaccine priority group to include all those who work outside their homes, including government employees. “With 27.7 million vaccine doses arriving from May to July 2021, we are confident that we can bring more Filipinos safely to work, inoculate 70

million Filipinos or the entire adult population by the end of the year, and recover strongly in the next two years,” the economic team said.

Regions

MEANWHILE, the regions where employment was severely affected by the reimposition of the ECQ in March and April were NCR and Calabarzon. These two posted the highest regional unemployment rates in April 2021 of 14.4 percent and 13.4 percent, respectively. NCR saw an increase of 5.6 per-

centage points in unemployment in April from the 8.8 percent posted in January. Calabarzon saw a 0.3-percentage point increase in unemployment in April from 13.1 percent in January 2021. Other regions that saw increases in unemployment in April were Cagayan Valley, Central Visayas, and Central Luzon. The rest of the regions saw a decline in unemployment, the largest reduction being in the Bicol region at 4.3 percentage points to 7 percent in April from 11.3 percent in January.

In terms of underemployment, the highest increase was recorded by Caraga at 9.6 percentage points to 29.2 percent in April from 19.6 percent in January. Central Visayas saw a 7.6-percentage point increase in underemployment to 20.8 percent in April from 13.2 percent in January; and NCR, at 7.3 percentage points to 15.5 percent in April from 8.2 percent in January. The regions with the largest declines in underemployment were Zamboanga Peninsula, Eastern Visayas and Northern Mindanao.

Private schools run to CTA to reverse BIR’s 25% tax order continued from a14 The Cocopea has since protested BIR’s “unilateral insertion” in its RR 5-2021 of a condition that proprietary educational institutions must be “nonprofit” to enjoy the reduced rate of 1 percent as a result of the passage of CREATE law.

But BIR last week rejected Cocopea’s letter-appeal to rectify the tax regulation, saying its policy is consistent with the Tax Code and that the tax rate reduction under CREATE law is applicable only to proprietary nonprofit educational

institutions and proprietary nonprofit hospitals. Finance Secretar y Carlos G. Dominguez III, who was a signatory of RR-5-2021, has since backed BIR’s position on the issue, saying it was based on the Tax Code as well as Su-

preme Court decisions in a number of landmark cases. Despite this, Dominguez has said they will welcome moves to possibly amend through legislation the Tax Code to resolve the issue. Bernadette D. Nicolas and Claudeth Mocon-Ciriaco

The World

Wednesday, June 9, 2021

BusinessMirror

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

China pledges more Covid aid to Asean on top of 100-M jabs

EIJING—China on Tuesday pledged further assistance to Southeast Asian nations in battling the Covid-19 pandemic as it seeks to boost influence with the region where chief geopolitical rival the US is also looking to strengthen ties.

Chinese Foreign Minister Wang Yi told his counterparts from the 10-member Association of Southeast Asian Nations that China had already delivered 100 million doses of vaccine to Asean members along with other pandemic-fighting materials and technical help. Wang likened the challenge to earlier economic crises, the 2003 SARS outbreak and the 2004 Indian Ocean tsunami, saying all were faced with “practical action arising from feelings of brotherly concern and the care of watchful neighbors.” “In the process of jointly overcoming challenges, we have deepened friendship, mutual trust and common interests,” Wang told the ministers, assembled in the southwestern Chinese megacity of Chongqing for meetings marking the 30th anniversary of formal relations between China and Asean.

Wang said the sides should explore establishing an expert panel to strengthen cooperation throughout the vaccine process, from research to use, and work to build production and distribution centers to help make vaccines affordable and accessible in the region. He said China would “urgently implement” the China-Asean Public Health Cooperation Initiative, continue to support the Asean Emergency Medical Materials Reserve and strengthen regional public health capacity-building. “China will work with Asean to overcome the outbreak as soon as possible,” Wang said. Though Covid-19 was first detected in China in late 2019, the nation has largely stamped out domestic transmission, although it has been accused of insufficient transparency or even seek-

In this photo released by Xinhua News Agency, a special Asean-China Foreign Ministers’ Meeting in Celebration of the 30th Anniversary of Dialogue Relations co-chaired by Chinese State Councilor and Foreign Minister Wang Yi and Teodoro Locsin, foreign secretary of the Philippines that serves as the current country coordinator for Asean-China relations and attended by foreign ministers from Asean countries held in Chongqing, southwestern China on June 7. China is hosting foreign ministers from 10 Southeast Asian nations this week in the southwestern megacity of Chongqing amid heightened competition between Beijing and Washington for influence in the region. Wang Quanchao/Xinhua via AP

ing to conceal the origins of the pandemic. Beijing has been building influence with Asean, despite frictions with some members of the bloc over competing territorial claims in the South China Sea. China’s construction of islands and its military operations in the sea have brought complaints Beijing is militarizing the waterway. China’s economic and diplomatic heft has helped override

such concerns, however, while the bloc has been unable to form a unified stand in the face of opposition from Chinese allies within it, primarily Cambodia. Wang made no direct reference to Myanmar, an Asean member where the military seized power on Feb. 1 and has cracked down on widespread opposition. On Monday, he said China supported A s e a n’s non - i nt e r ve nt ion i s t approac h. AP

Myanmar junta to start court case against Suu Kyi next week

banned from running in an election promised by the junta within one or two years of its takeover. She and her two co-defendants are charged with spreading information that could cause public alarm or unrest. Suu Kyi also faces two counts of violating the Natural Disaster Management Law for allegedly breaking Covid-19 pandemic restrictions during the 2020 election campaign; illegally importing walkie-talkies that were for her bodyguards’ use; and unlicensed use of the radios. A sixth charge that Suu Kyi faces is the most serious one:

breaching the colonial-era Official Secrets Act, which carries a penalty of up to 14 years’ imprisonment. It has been handled separately from the other charges and was filed in a court in Yangon, the country’s biggest city. It was recently transferred to the Union Supreme Court in Naypyitaw, said San Mar La Nyunt, another of her lawyers. Another of her lawyers, Min Min Soe, said that when they met with her, she asked them if they could help pay for her food expenses because her cash resources were low and she did not want to rely on being fed by her captors. AP

AYPYITAW, Myanmar— Myanmar’s military junta will begin presenting its case against deposed leader Aung San Suu Kyi in court next Monday, her lawyers said. The military arrested Suu Kyi in February when it overthrew her elected government. Public resistance to the coup remains strong and in recent months has taken the form of a low-level armed insurrection. Government prosecutors will have until June 28 to finish their presentation in the court in Naypyitaw, the capital, where she is being tried on five charges, after

which Suu Kyi’s defense team will have until July 26 to present its case, said Khin Maung Zaw, the team’s senior member. Court sessions are to be held on Monday and Tuesday each week. K hin Maung Zaw spoke to journalists after a procedural hearing on Monday for Suu Kyi and two fellow defendants, ousted President Win Myint and former Naypyitaw Mayor Myo Aung. Suu Kyi’s supporters say the charges against her are politically motivated and are meant to discredit her and legitimize the military’s takeover. If convicted of any of the offenses, she could be

India’s daily infections dip below 100K after 2 months

Pipeline exec to face Congress as US recovers most of ransom

EW DELHI—India’s daily coron av i r u s i nfections have dipped below 100,000 for the first time in more than two months as an overall downturn prompts some states to ease restrictions. The 86,498 cases added in the past 24 hours pushed India’s total past 29 million on Tuesday, second only to the United States, which has more than 33 million. The Health Ministry also reported 2,123 new fatalities in the past 24 hours, raising the overall death toll to 351,309. Both figures are believed to be vast undercounts. India peaked at adding more than 400,000 cases a day in May, but new infections and deaths have declined across the country since then. The downturn has led some states to ease restrictions on commercial activities to spur consumption. Multiple states have, however, extended lockdowns and have been reluctant to reopen. AP

A S H I N G T O N —T h e chief executive of the massive fuel pipeline hit by ransomware last month is expected to detail his company’s response to the cyberattack and to explain his decision to authorize a multimillion-dollar payment when he testifies before Congress this week. Colonia l Pipeline CEO Jo seph Blount will face the Senate Homeland Security Committee on Tuesday, one day after the Justice Department revealed it had recovered the majority of the $4.4 million ransom payment the company made in hopes of getting its system back online. A second hearing is set for Wednesday before the House Homeland Security Committee. Blount’s testimony marks his first appearance before Congress since the May 7 ransomware attack that led Georgiabased Colonial Pipeline, which supplies roughly half the fuel consumed on the East Coast, to temporarily halt operations. The attack has been attributed to a Russia-based gang of cybercriminals using the DarkSide ransomware variant, one of more than 100 variants the

FBI is currently investigating. The company decided soon after the attack to pay ransom of 75 bitcoin, then valued at roughly $4.4 million. Though the FBI has historically discouraged ransomware payments for fear of encouraging cyberattacks, Colonial officials have said they saw the transaction as necessary to resume the vital fuel transport business as rapidly as possible. The operation to seize cryptocurrency paid to the Russia-based hacker group is the first of its kind to be undertaken by a specialized ransomware task force created by the Biden administration Justice Department. It reflects a rare victory in the fight against ransomware as US officials scramble to confront a rapidly accelerating threat targeting critical industries around the world. “By going after the entire ecosystem that fuels ransomware and digital extortion attacks—including criminal proceeds in the form of digital currency—we will continue to use all of our resources to increase the cost and consequences of ransomware and other cyber-based attacks,” Deputy Attorney General Lisa Monaco said at a news conference announcing the operation.

In a statement Monday, Blount said he was grateful for the FBI’s efforts and said holding hackers accountable and disrupting their activities “is the best way to deter and defend against future attacks of this nature. “The private sector also has an equally important role to play and we must continue to take cyber threats seriously and invest accordingly to harden our defenses,” he added. Cryptocurrency is favored by cybercriminals because it enables direct online payments regardless of geographical location, but in this case, the FBI was able to identify a virtual currency wallet used by the hackers and recovered the proceeds from there, Abbate said. The Justice Department did not provide details about how the FBI had obtained a “key” for the specific bitcoin address, but said law enforcement had been able to track multiple transfers of the cryptocurrency. “For financia l ly motivated cyber criminals, especially those presumably located overseas, cutting off access to revenue is one of the most impactful consequences we can impose,” Abbate said. AP

The World

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BusinessMirror

Wednesday, June 9, 2021

WHO: High vaccination rates ‘the way out of this pandemic’

ENEVA—A top World Health Organization official estimated Monday that Covid-19 vaccination coverage of at least 80 percent is needed to significantly lower the risk that “imported” coronavirus cases like those linked to new variants could spawn a cluster or a wider outbreak. Dr. Michael Ryan, WHO’s emergencies chief, told a news conference that ultimately, “high levels of vaccination coverage are the way out of this pandemic.” Many rich countries have been moving to vaccinate teenagers and children—who have lower risk of more dangerous cases of Covid-19 than the elderly or people with comorbidities—even as those same countries face pressure to share vaccines with poorer ones that lack them. Britain, which has vastly reduced case counts thanks

to an aggressive vaccination campaign, has seen a recent uptick in cases attributed largely to the so-called delta variant that originally appeared in India—a former British colony. Ryan acknowledged that data wasn’t fully clear about what percentage of vaccination coverage was necessary to fully have an impact on transmission. “But...it’s certainly north of 80 percent coverage to be in a position where you could be significantly affecting t he r isk of a n impor ted

case potentially generating secondary cases or causing a cluster or an outbreak,” he said. “So it does require quite high levels of vaccination, particularly in the context of more transmissible variants, to be on the safe side,” Ryan added. M a r i a Va n K erk hove, WHO’s technical lead on Covid-19, noted the delta variant is spreading in more than 60 countries, and is more transmissible than the alpha variant, which first emerged in Britain. She cited “worrying trends of increased transmissibility, increased social mixing, relaxing of public health and social measures, and uneven and inequitable vaccine distribution around the world.” WHO Director-General Tedros Adhanom Ghebreyesus, meanwhile, called on leaders of the developed Group of Seven countries to help the UN-backed vaccination program against Covid-19 to boost access to doses in the developing world. With G-7 leaders set to meet in England later this week, Tedros said they could help meet his target that at

least 10 percent of the populations in every country are vaccinated by the end of September—and 30 percent by year-end. “To reach these targets, we need an additional 250 million doses by September, and we need hundreds of million doses just in June and July,” he said, alluding to the summit involving Britain, Canada, France, Germany, Italy, Japan and the United States. “These seven nations have the power to meet these targets. I’m calling on the G-7 not just to commit to sharing those, but to commit to sharing them in June and July.” At a time of continued tight supply of vaccines, Tedros also called on manufacturers to give the “first right of refusal ” on new vaccine volumes to the UNbacked COVA X program, or to commit half of their volumes to COVA X this year. He warned of a “two-track pandemic,” w ith mor ta lity among older age groups declining in countries with higher vaccinat ion rates even as rates have risen in the Americas, Africa and the Western Pacific region. AP

Maldives foreign minister elected as UN General Assembly president

NITED NATIONS— Foreig n M i n i ster Abdulla Shahid of the Maldives won election as the next president of the UN General Assembly on Monday, and pledged to push for equal access to coronavirus vaccines, a stronger and greener economic recovery, and stepped up efforts to tackle climate change. He defeated a former Afghan foreign minister, Zalmai Rassoul, in a 143-48 vote by secret ballot, with two of the assembly’s 193 member nations not voting. Diplomats from member nations, all wearing masks because of the pandemic, were called to the front of the assembly chamber one-by-one to deposit their ballot in a large wooden box. Turkey’s Volkan Bozkir, the current assembly president, said Shahid brings to the job “extensive experience in multilateral diplomacy,” serving his Indian Ocean island nation twice as foreign minister and for 10 years before that as chief of staff to the president. Shahid has been “a strong voice in calling attention to the impact on small island developing states” by the pandemic and by climate change, which threatens people’s lives and livelihoods, Bozkir said. Shahid, 59, said he was “ deeply humbled ” by the t r u st show n b y t he U N members a nd t he honor given to his island nation of 26 atolls, population about 550,000, which lies in the Indian Ocean southwest of Sri Lanka and India. Saying he has “an undying belief in multilateralism with an ardent desire to serve the international community,” Shahid said his aim is to launch “a presidency of hope” and “to hit the ground running on day one in September as soon as I take my oath of office.”

This December 5, 2019 file photo shows Maldivian Foreign Minister Abdulla Shahid as he meets Sri Lankan Prime Minister Mahinda Rajapaksa, in Colombo, Sri Lanka. Shahid won election as the next president of the UN General Assembly on Monday, June 7, and pledged to push for equal access to coronavirus vaccines, a stronger and greener economic recovery, and stepped up efforts to tackle climate change. AP/Eranga Jayawardena

“This is a crucial time for the United Nations and for the world,” Shahid said. “There is very little time to spare.” He pointed to the past year’s “disease, despair and devastation” as a result of the pandemic, along with increasing “inequality, injustice and instability” and the “suffering” of the planet from climate change. Shahid said his priorities during his year-long presidency of the 76th session of the General Assembly are to recover from the pandemic, both by making vaccines available to all people everywhere, and rebuilding economies stronger and greener and “and ensuring no country is left behind.” He said it can also be “a super session for nature” and to “seize momentum on responding to the needs of our planet,” citing upcoming conferences and meeti ngs on c l i m ate c h a nge, the oceans, biodiversit y, sustainable transport and food systems as examples. This is a major priority for the Maldives, whose leaders have warned that the country’s existence is threatened by rising seas from climate

change. Shahid said he will also focus on “respecting the rights of all,” revitalizing the United Nations, and engaging the media and civil society. “I will raise my voice against gender discrimination, advocate for gender equality... (and) not participate in any panels that are not gender balanced,” he said. UN Secretary-General Antonio Guterres congratulated Shahid, saying the General Assembly is the UN’s most representative organ, the foundation of its work, “and essential to our effectiveness as an organization.” “In 2021, the world needs that effectiveness more than ever,” Guterres said. “We are a world in mourning for the millions of people we have lost to the Covid-19 pandemic.” Guterres said the 76th session will grapple with the impact of Covid-19 on peace, development and human rights, stressing that “until everyone, everywhere, has access to vaccine it continues to pose an enormous threat.” While the presidency of the Genera l A ssembly is largely ceremonial, it is also prestigious. The body controls the UN

budget, adopts treaties, addresses global issues from poverty to corruption, and passes numerous resolutions that while not legally binding almost always reflect global opinion. It is also the UN organ where countries large and small can speak—and the scene of the only annual gathering of world leaders, historically in person. Last year, however, there were video speeches from leaders because of the pandemic, and no announcement has been made yet of this year’s a r ra ngements. In recent months, the assembly has allowed in-person meetings with two representatives from each country allowed in the vast chamber, where social distancing is observed. Shahid said in response to a question on future meetings that it would be prudent to maintain a cautious approach. “But as soon as possible, yes, it should be in our interest and the interest of this organization to come back into the normalcy if at all possible.” T he select ion of t he assembly president fol lows a reg iona l rot at ion ma nd ated by t he world body, and it was the tur n of A sia to preside over t he ne x t yea rlong session. By tradition, the UN’s regional groups usually nominate a single candidate who is then rubber-stamped by the assembly. But this year the election was contested because A si a n cou nt r ies couldn’t agree on a nominee. B o z k i r, S h a h id a nd Guterres paid tribute to losing candidate Rassoul, who served as Afghanistan’s foreign minister in 2010-2013 and was one of the top three contenders to replace Hamid Karzai as president in 2014, losing out to Ashraf Ghani. AP

BusinessMirror

A8 Wednesday, June 9, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City WANG, YI Mandarin Customer Service Representative 1.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status.

Basic Qualification: Fluent in Mandarin both oral and written. Salary Range: Php 30,000 - Php 59,999

HUANG, BIXIA Marketing And Sales Agent 12.

BANK OF CHINA (HONG KONG) LIMITED - MANILA BRANCH G/f, 2/f, 28/f, West Retail The Finance Centreblock 55 Lot 1 & 2 26th St. Cor 9th Ave. Bonifacio Global City Fort Bonifacio Taguig City

CHI, JIANMING Head Of Internal Audit Brief Job Description: Manages the Audit Department

CHEN, YAO Manager - Resource Management Department Brief Job Description: Manages the Resource Management Department

YU, YE Manager-operations Department Brief Job Description: Manages the Operations Department

HUANG, JINZHI Marketing And Sales Agent 13.

Basic Qualification: Proficient in both Mandarin/ English & with working experience in Mainland China and with HR and Admin working experience

SHI, YUJIAO Customer Support Trainor 5.

Brief Job Description: Responsible for overall training of new customer support representative

14.

WANG, TINGTING Customer Support Trainor 6.

Brief Job Description: Responsible for overall training of new customer support representative

FU, HANGCHAO Field Sales Consultant 7.

Brief Job Description: The one responsible to “get the sale” using various customer sales methods.

16.

ZHUO, ZUNJING Key Accounts Specialist Consultant 9.

Brief Job Description: Oversee the relationships of the company with Chinese clients; responsible for obtaining and maintaining long term key customers by comprehending their requirements.

MAIER, CHRISTOPHER MICHAEL GEORGE Chairman, President And Ceo 10.

Brief Job Description: Direct the management and conduct of the company’s operations

17.

11.

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

WANG, GUOYU Marketing And Sales Agent 18.

Basic Qualification: can contributes information, ideas and research to help develop marketing strategies, can help to detail, design and implement marketing plans for each product or service being offered.

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

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

WU, XIAOFENG Marketing And Sales Agent 19.

23.

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

XU, XIUREN Marketing And Sales Agent 20.

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

YANG, JIALONG Marketing And Sales Agent 21.

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

WU, LINLIN General Manager 24.

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

ZHANG, BING Marketing And Sales Agent 22.

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

Brief Job Description: Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives. Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements;

Basic Qualification: Degree in business management or a masters in business administration. Must have strong leadership qualities. Must be computer literate. Has experience to different business functions. must have excellent interpersonal skills. Salary Range: Php 60,000 - Php 89,999

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City

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

ENERGY CHINA PHILIPPINES BRANCH OFFICE Unit 1718, High Street South Corporate Plaza Tower 1 Bonifacio Global Fort Bonifacio Taguig City

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

Basic Qualification: Must hold at least a bachelor’s degree, with at least 3 years of experience leading a company engaged in consultancy, advisory & management support services.

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

QUALIFICATION AND SALARY RANGE

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

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

CHEN, KUN Marketing And Sales Agent

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

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

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

TANG, PENGJIE Marketing And Sales Agent

Basic Qualification: Can develop strong positive relationships with executive and management contacts; able to speak and communicate using mandarin.

CERULEAN BLUE ADVISORS INC. G/f Wumaco Bldg. 1 Quadrant 3 9th Ave. Bonifacio High Street Fort Bonifacio Taguig City

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHANG, SHICHU Marketing And Sales Agent

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

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

SUN, CHAO Marketing And Sales Agent

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

QIU, ANQIANG Field Sales Consultant

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

Basic Qualification: Can research accounts and generate or follow through sales leads; can valuate customers skills, needs and build productive long lasting relationships; can meet personal and team sales targets

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

LYU, ZHIWEI Marketing And Sales Agent

Basic Qualification: Can develop digital and print educational material can facilitate new hiers basic sales training courses including communication and trouble shooting skills

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

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Basic Qualification: Can develop digital and print educational material can facilitate new hires basic sales training courses including communication and trouble shooting skills

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

LI, HONGZE Marketing And Sales Agent

Salary Range: Php 90,000 - Php 149,999 C’EST LA VIE EVENT MANAGEMENT INC. 230 Narra Street Marikina Heights Marikina City

QUALIFICATION AND SALARY RANGE

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

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Proficient in both Mandarin/ English & with working experience in Mainland China and knowledgeable on RMB settlement & payment system

ESTABLISHMENT / ADDRESS

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

Basic Qualification: Proficient in both Mandarin/ English & with working experience in Mainland China and knowledgeable on audit procedure Salary Range: Php 150,000 - Php 499,999

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

www.businessmirror.com.ph

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BAI, FAN Customer Service Representative Brief Job Description: Customer Service

FENG, WENCHAO Customer Service Representative Brief Job Description: Customer Service

GENG, XING Customer Service Representative Brief Job Description: Customer Service

HAN, PENG Customer Service Representative Brief Job Description: Customer service

HE, GUIHAO Customer Service Representative Brief Job Description: Customer Service

HE, ZHONGJUN Customer Service Representative Brief Job Description: Customer Service

HOANG HONG SON Customer Service Representative Brief Job Description: Customer Service

HU, JIE Customer Service Representative Brief Job Description: Customer Service

HUANG, SHITAO Customer Service Representative Brief Job Description: Customer service

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

LI, LINSHENG Customer Service Representative Brief Job Description: Customer service

LIANG, BINMEI Customer Service Representative Brief Job Description: Customer service

LIANG, LIANG Customer Service Representative Brief Job Description: Customer Service

LIN, GUOCHUN Customer Service Representative Brief Job Description: Customer service

Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in mandarin/basic english Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LIU, JIE Customer Service Representative Brief Job Description: Customer service

LIU, ZHUANGZHUANG Customer Service Representative Brief Job Description: Customer Service

LUO, GANGGANG Customer Service Representative Brief Job Description: Customer service

LUO, WANCHENG Customer Service Representative Brief Job Description: Customer Service

NIM THI MY LE Customer Service Representative Brief Job Description: Customer Service

SHI, HAONAN Customer Service Representative Brief Job Description: Customer service

WANG, HONG Customer Service Representative Brief Job Description: Customer Service

WANG, JUNWEI Customer Service Representative Brief Job Description: Customer service

WANG, SHUAILONG Customer Service Representative Brief Job Description: Customer service

WANG, GUANGHUI Customer Service Representative Brief Job Description: Customer Service

WANG, CHONG Customer Service Representative Brief Job Description: Customer service

WANG, JUNHAO Customer Service Representative Brief Job Description: Customer Service

WEI, JIAAN Customer Service Representative Brief Job Description: Customer Service

XU, WEIWEI Customer Service Representative Brief Job Description: Customer Service

ZENG, YIXIANG Customer Service Representative Brief Job Description: Customer Service

ZHANG, JIE Customer Service Representative Brief Job Description: Customer Service

ZHAO, XIANGJUAN Customer Service Representative Brief Job Description: Customer Service

ZHAO, KAIGE Customer Service Representative Brief Job Description: CUSTOMER SERVICE

ZHENG, JINJING Customer Service Representative Brief Job Description: Customer service

ZHONG, WENCAN Customer Service Representative Brief Job Description: Customer Service

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English

No.

XU, XUANXUAN Software Document Controller Specialist 60.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English

CAO, MENGXI Electrical And Instrumentation Consultant 61.

59.

Brief Job Description: Create systems which can then be used to train staff on document control processes

Brief Job Description: Coordinates construction automation system, including the cabling, cable ways, process tubing and instrument.

PENG, TIANYANG Electrical And Instrumentation Consultant 62.

Brief Job Description: Coordinates construction automation system, including the cabling, cable ways, process tubing and instrument.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin/ Basic English

WANG, YUHANG Electrical And Instrumentation Consultant 63.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999

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Basic Qualification: College Graduate / Level and fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English

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

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Basic Qualification: College graduate/level and fluent in Mandarin and basic English

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Salary Range: Php 30,000 - Php 59,999 Basic Qualification: COLLEGE GRADUATE/LEVEL AND FLUENT IN MANDARIN/ BASIC ENGLISH Salary Range: Php 30,000 - Php 59,999

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Basic Qualification: Preferably with document control experience; fluent in mandarin/basic english Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE Basic Qualification: Preferably with document control experience; fluent in mandarin/basic english

No.

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

Brief Job Description: To oversee construction projects and supervise the construction team

Basic Qualification: Preferably 2-3 years of electrical and instrumentation consultancy experience; Fluent in Mandarin/basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably 2-3 years of electrical and instrumentation consultancy experience; Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably 2-3 years of electrical and instrumentation consultancy experience; fluent in mandarin/basic english

CHAO, SHOU-WEN Chinese Speaking Customer Service Representative 74.

Brief Job Description: Assist/ help customers, give customers information about products or services HO CHAN LIN Chinese Speaking Customer Service Representative

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Brief Job Description: Assist/ help customers, give customers information about products or services HU, BEINI Chinese Speaking Customer Service Representative

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Brief Job Description: Assist/ help customers, give customers information about products or services WANG, BINGGUI Chinese Speaking Customer Service Representative

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Brief Job Description: Assist/ help customers, give customers information about products or services

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, PEIYUN Chinese Speaking Customer Service Representative Brief Job Description: Assist/ help customers, give customers information about products or services ZHAO, WANG Chinese Speaking Customer Service Representative

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Brief Job Description: With atleast 6 months working experince / fluent in mandarin / english

MOON, JONGSUB Korean Speaking Operations Manager 80.

Brief Job Description: Develops the strategic direction for business innovation, directing the planning, implementation, and achievement of the strategic and operational plan in support of business growth. Takes charge of supply chain for the market.

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Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably 2-3 years of electrical and instrumentation consultancy experience; fluent in mandarin/basic english

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

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Basic Qualification: Preferably 2-3 years of electrical and instrumentation consultancy experience; Fluent in Mandarin/Basic English

BAI, CHUNLIANG Customer Service Representative Brief Job Description: Customer Service

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

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Basic Qualification: Preferably 3 years of consulting experience in projects; fluent in mandarin/basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably years of prior experience in supervisory roles; Fluent in Mandarin/ basic English

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Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably years of prior experience in supervisory roles; fluent in mandarin/ basic english

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Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably years of prior experience in supervisory roles; fluent in mandarin/ basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably years of prior experience in supervisory roles; fluent in mandarin/ basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With atleast 6 months working experince / fluent in mandarin / english Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With atleast 6 months working experince / fluent in mandarin / english Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With atleast 6 months working experince / fluent in mandarin / english Salary Range: Php 30,000 - Php 59,999

CHEN, MENGLONG Customer Service Representative Brief Job Description: Customer service

Brief Job Description: Managing incoming calls and customer service inquiries.

Brief Job Description: Managing incoming calls and customer service inquiries. CHEN, YI-XUAN Customer Service Representative Brief Job Description: Customer Service CHEN, JIANMING Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries CHENG, WANTAN Customer Service Representative Brief Job Description: CUSTOMER SERVICE CHENG, LIANGXU Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DAI, ZHONGJU Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DUAN, ZHENGPENG Customer Service Representative Brief Job Description: Customer service ERIC TAN YEE LIK Customer Service Representative

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Brief Job Description: MANAGING INCOMING CALLS AND CUSTOMER SERVICE INQUIRIES FERNANDO CHANDRA Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. FU, WENJIAN Customer Service Representative

94.

Brief Job Description: Managing incoming calls and customer service inquiries. GONG, YUNFENG Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. GUO, XIAOLONG Customer Service Representative

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Basic Qualification: Assist/ help customers, give customers information about products or services Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Customer Service

CHEN, LIJUN Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably 3 years of consulting experience in projects; fluent in mandarin/basic english

CHEN, QIYAO Customer Service Representative

CHEN, GUODONG Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably 3 years of consulting experience in projects; fluent in mandarin/basic english

Basic Qualification: *Bachelor’s Degree; Native Korean Speaker w/ experience in Operations or a similar role. Salary Range: Php 90,000 - Php 149,999

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably 2-3 years of electrical and instrumentation consultancy experience; fluent in mandarin/basic english

QUALIFICATION AND SALARY RANGE

K AND L JINRO INC. 3/f Gei Bldg. 50 Polaris St. Poblacion Makati City

INFOVINE INC. 9/f Y Tower, Moa Complex Coral Way Drive Cor. Macapagal Brgy. 076 Pasay City

Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

Brief Job Description: To oversee construction projects and supervise the construction team

PI, DEBAO Site Supervisor

Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999

Brief Job Description: To oversee construction projects and supervise the construction team

LI, LONGFEI Site Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin/ Basic English

Brief Job Description: To oversee construction projects and supervise the construction team.

GUAN, YUBO Site Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English

Brief Job Description: Contribute their operational, strategic, or technical expertise to projects

GAO, MINGYU Site Supervisor

Basic Qualification: College Graduate / Level and fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Contribute their operational, strategic, or technical expertise to projects

ZHANG, DONGDONG Project Consultant

Basic Qualification: College Graduate / Level and fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Contribute their operational, strategic, or technical expertise to projects

LIU, DAN Project Consultant

Basic Qualification: College graduate/level and fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Coordinates construction automation system, including the cabling, cable ways, process tubing and instrument.

HUANG, GAOCHAO Project Consultant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in mandarin/basic english

Brief Job Description: Coordinates construction automation system, including the cabling, cable ways, process tubing and instrument.

ZHANG, JIANGUO Electrical And Instrumentation Consultant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English

Brief Job Description: Coordinates construction automation system, including the cabling, cable ways, process tubing and instrument.

ZHANG, JINFEI Electrical And Instrumentation Consultant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in mandarin/basic english

Brief Job Description: Coordinates construction automation system, including the cabling, cable ways, process tubing and instrument.

WONG, TSZ HANG Electrical And Instrumentation Consultant

FULL CHARGE SERVICES, INC. U 801 State Center Bldg. 333 Juan Luna St. 027, Brgy. 287 Binondo Manila SUN, ZHANGUO Software Document Controller Specialist

Brief Job Description: Create systems which can then be used to train staff on document control processes

ESTABLISHMENT / ADDRESS

HAMMERTIME CONSTRUCTION INC. Unit 203-s3 2nd Flr. Fbr Arcade Bldg. #317 Katipunan Ave. Loyola Heights 3 Quezon City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in mandarin/ Basic English

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Wednesday, June 9, 2021 A9

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Brief Job Description: Managing incoming calls and customer service inquiries. HAN LIN HTET Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

HAO, GUANGDA Customer Service Representative Brief Job Description: Customer Service

HONG, WEI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate / level and fluent in mandarin/basic english 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: College Graduate / Level and fluent in Mandarin / Basic English 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: COLLEGE GRADUATE / LEVEL AND FLUENT IN MANDARIN/ BASIC ENGLISH 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: College graduate / level and fluent in mandarin/basic english Salary Range: Php 30,000 - Php 59,999 Basic Qualification: ABLE TO SPEAK, READ AND WRITE CHINESE LANGUAGE Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English 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

BusinessMirror

A10 Wednesday, June 9, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HTAIN LIN Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. HU, GUOCHAO Customer Service Representative Brief Job Description: Customer Service HUANG, JUNDONG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HUANG, ZUQING Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries JIANG, YIFEI Customer Service Representative Brief Job Description: Customer service JIANG, HUADONG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries JIANG, QIUMEI Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. JIANG, YONGSHAN Customer Service Representative Brief Job Description: Customer Service LAN, TIANTANG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LI, GUOPING Customer Service Representative Brief Job Description: Customer service LI, FURONG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LI, CHUANG Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. LIANG, QIANWEN Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. LIANG, JINCHAO Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. LIAO, DONGHUI Customer Service Representative Brief Job Description: Customer Service

LING, ZEBO Customer Service Representative Brief Job Description: Customer Service

LIU, ZENGJUAN Customer Service Representative Brief Job Description: CUSTOMER SERVICE LIU, YING Customer Service Representative

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Brief Job Description: Managing incoming calls and customer service inquiries. LU, HAIJIAO Customer Service Representative

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Brief Job Description: MANAGING INCOMING CALLS AND CUSTOMER SERVICE INQUIRIES LUO, SHUAI Customer Service Representative Brief Job Description: Customer Service

LYU, KE Customer Service Representative Brief Job Description: Customer Service

MA, YUTAO Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

NGUYEN MINH HONG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read and write Chinese language

No.

123.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English

124.

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

125.

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

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Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate / level and fluent in mandarin/basic english

127.

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

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

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

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Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate / level and fluent in mandarin/basic english Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999

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

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Basic Qualification: ABLE TO SPEAK, READ AND WRITE CHINESE LANGUAGE Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

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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

NGUYEN THI MAI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries PENG, DI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries PHUNG A GIENG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries QIAN, FAYANG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries QIN, BIN Customer Service Representative Brief Job Description: Customer Service

Brief Job Description: Managing incoming calls and customer service inquiries. QU, JUNWEI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries REN, SONGYUAN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries SHAO, ZHIGANG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries SHOU, YING Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

Brief Job Description: Managing incoming calls and customer service inquiries. SUN, TINGTING Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TAN, BANGQIANG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TANG, LULU Customer Service Representative

Basic Qualification: COLLEGE GRADUATE / LEVEL AND FLUENT IN MANDARIN/ BASIC ENGLISH Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquiries

SUN, ZHIPENG Customer Service Representative

Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999

NGUYEN TAT TUAN Customer Service Representative

QIN, MENGQI Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

145.

Brief Job Description: Managing incoming calls and customer service inquiries. TANG, YANHUI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TANG, XIAOBING Customer Service Representative Brief Job Description: Customer Service TANG, CHAOZHONG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries THIEU HUU TINH Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TONI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TRAN VAN CHIEN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

WANG, JULONG Customer Service Representative Brief Job Description: Customer Service

WANG, QIFENG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries WANG, HAIGANG Customer Service Representative

146.

Brief Job Description: Managing incoming calls and customer service inquiries.

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ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read and write Chinese language. Salary Range: Php 30,000 - Php 59,999

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

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Basic Qualification: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

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

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Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English

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Brief Job Description: Customer Service WANG, HENGBING Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries WEI, LIJUAN Customer Service Representative Brief Job Description: Customer service WEI, YUNQIANG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries WEI, ZHENGHONG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries WU, SHENGQUAN Customer Service Representative Brief Job Description: Customer Service WU, ZHICAI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

Brief Job Description: Managing incoming calls and customer service inquiries. WU, XIANKE Customer Service Representative

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

WANG, JINJIANG Customer Service Representative

WU, ANMING Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

167.

Brief Job Description: Managing incoming calls and customer service inquiries. XIAO, FEICHI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries XIAO, PENG Customer Service Representative Brief Job Description: Customer Service

XU, JIYANG Customer Service Representative Brief Job Description: CUSTOMER SERVICE

XU, JINKUN Customer Service Representative Brief Job Description: Customer service XU, YUFAN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries YANG, LEI Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries YAO, HUIXIN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries YAO, CHUXIONG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires YE, LIANG Customer Service Representative Brief Job Description: Customer Service YI, FAN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries YOU, JINFENG Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

YU, ZHIMIN Customer Service Representative Brief Job Description: Customer Service

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

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ZENG, GUANGQIAO Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

ZHANG, HE Customer Service Representative Brief Job Description: Customer Service

QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English 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: College graduate / level and fluent in mandarin/basic english 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: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: COLLEGE GRADUATE / LEVEL AND FLUENT IN MANDARIN/ BASIC ENGLISH Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate / level and fluent in mandarin/basic english Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and fluent in Mandarin / Basic English 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: College Graduate / Level and fluent in Mandarin / Basic English 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: College Graduate/Level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

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Hate crime charges added in Asian American attacks

The World

ALTIMORE—A man accused in a rampage at three Baltimore liquor stores owned by Asian American families last month is now facing hate crime charges, prosecutors announced Monday. Daryl Doles, 50, was already charged with robbery and assault for the attacks, but a 22-count indictment returned Monday includes nine hate-crime counts and multiple attempted murder charges. If convicted of all charges, Doles faces a potential maximum sentence of two life sentences plus 65 years in prison, prosecutors said in a news release. The violence occurred on May 2 after Doles was denied entry to one Asian American-owned store because he refused to wear a mask, authorities said. He returned with a two-by-four and attacked the security guard, prosecutors said. The owner took the lumber away and Doles fled. Prosecutors said Doles then went on to a second Asian American-owned store, where he kicked a display window, knocking down wine bottles. When the owner told Doles not to come back, Doles used a profanity to denounce Chinese people, officials said. At the third Asian American-owned store, prosecutors said Doles used a concrete block to assault and try to kill two sisters in their 60s. Doles was detained six blocks away and while he sat on the ground he spoke to a man there who asked him why he assaulted the women. According to prosecutors, Doles replied, “They need to go back to their country.” “What we’ve all borne witness to over the past year is resentment over coronavirus restrictions, which have unleashed a tidal wave of unjustified, vicious assaults against Asian Americans across this nation,” State’s Attorney Marilyn Mosby said at a news conference. “This misplaced anger and hatred toward our Asian American community members is disturbing, unacceptable and will not be tolerated in the city of Baltimore.” Doles’ attorney, Staci Pipkin, told The Baltimore Sun that Doles has suffered from addiction and mental health issues throughout his life. She accused Mosby of elevating the charges because of media attention. “Unfortunately, we have seen that office overcharge cases on a regular basis simply because they want press attention,” Pipkin said. “There is no new evidence presented since the time that the SAO [state’s attorney’s office] chose to initially charge this as an assault. It was only after this case made the news that these charges were added, increasing the penalties dramatically.” Mosby’s comments will make it difficult for him to receive a fair trial, Pipkin said. AP

BusinessMirror

Wednesday, June 9, 2021 A11

White House briefing room crammed again after jabs

ASHINGTON—The White House briefing room on Monday might have been a fire marshal’s nightmare.

For the first time in 449 days, reporters could cram into every seat for the daily briefing. Coronavirus restrictions had kept one of the most recognized rooms in the US government almost empty. But mass vaccinations allowed reporters to first doff their masks on May 13 and then nearly a month later to gather in a pack of raised hands, shouting, hard-eyed stares and the occasional grimace. “Hope everyone’s cozy,” White House press secretary Jen Psaki said at she stepped to the lectern. Forty-nine journalists sat elbow-to-elbow in blue seats, while others stood on the edges. The loudspeaker before the briefing told reporters not to block the aisle, but no one budged. The briefing marked something of a surreal return to business as usual for Joe Biden’s presidency. The president had vowed to overcome the pandemic, and one of the consequences of any success on that front inevitably was going be more questions from more

reporters. Monday was proof of that as the hour-long briefing ran to roughly 58 sets of questions. The questions covered a wide range—a sign that there are still plenty of tensions, emergencies and unknowns to consume any administration’s time. The topics included Russia, China, Afghanistan, cyberattacks, infrastructure, voting rights, vaccinations and Supreme Court decisions. Presidents might campaign on policies and promises, but most administrations must deal with a daily degree of chaos, sometimes of their own making. National security adviser Jake Sullivan also took the podium at Monday’s briefing to preview the president’s first foreign trip, which will begin this week with a Group of Seven summit meeting in the United Kingdom. Psaki then faced a barrage of questions that was different from past briefings because so many hands were raised and time for follow-ups was limited.

Journalists raise their hands to ask a question as White House national security adviser Jake Sullivan speaks during a press briefing at the White House on June 7, in Washington. AP/Evan Vucci

How did Biden know he could trust Russian President Vladimir Putin at their upcoming meeting? How would Biden work with West Virginia Sen. Joe Manchin on voting rights? What was the status of infrastructure talks? How could ransomware attacks be prevented? How would the United States prevent terrorist attacks after US troops withdraw from Afghanistan? Would infrastructure aid be going to Brazil? Why had Biden not done more to

commemorate the anniversary of the D-Day landing? Not every reporter got to ask a question. Not every joke from Psaki got the response she expected. Upon noting that Biden had gotten together with former President Barack Obama to discuss enrollment in “Obamacare,” Psaki referenced the 1978 Peaches & Herb song “Reunited” and got only a few chuckles. “Even in a full room, no laughs,” Psaki said. AP

A12 Wednesday, June 9, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Seeing the promise of the cacao tree

ocoa beans have been trading for more than $2,000 per metric ton in recent weeks. While the average price is expected to soften by the end of the year due to the lingering effects of the Covid-19 pandemic, according to a Reuters poll, it will not go down below $2,000 (or around P100,000) per MT. Ghana and Ivory Coast in Africa continue to benefit from high prices as they are the world’s top producers of cocoa beans. Its climate and location make the Philippines suitable for the cultivation of the prized crop, but the country has yet to take full advantage of these assets to give African producers a run for their money. Data from the Philippine Statistics Authority (PSA) indicated that the country produced some 10,000 MT of cacao last year. The figure is significantly lower than the 2 million MT produced by Ivory Coast and the 800,000 MT produced by Ghana during the period. Our farmers’ apparent lack of interest in cacao is mind-boggling considering the minimal start-up capital required and the good return on investment. According to the 2016-2022 Philippine cacao industry road map prepared by the Department of Agriculture (DA), farmers can start earning from cacao within three years for monocrop and intercrop areas, as harvest may be done within 18 months for well-managed farms. Profitability is higher on the third year when net income becomes double the production cost. There is a need to encourage more farmers to go into cacao production given the business opportunities presented by its cultivation and the potential to create more jobs in the countryside. For one, the country is exporting more cacao in recent years, the PSA said in its latest report on Philippine agricultural exports and imports. In 2019, the Philippines exported more than 3,000 MT of cacao valued at P406.97 million, while imports shrank by 90.7 percent year-on-year. Changes in consumer preference in the Philippines have driven the increase in the number of restaurants and coffee shops serving cocoa-based drinks and food items, not to mention the growing number of small- and medium-scale chocolatiers in recent years (See, “National program to expand PHL cacao output,” in the BusinessMirror, May 27, 2021). The pandemic may have dampened demand for cacao-based products for now, but the economic recovery of the country’s major markets and the gradual reopening of businesses will definitely increase the appetite of industries for the crop. Local planters should be able to take advantage of the expected surge in demand for cacao-based products. Cacao’s diversified use, both for food and non-food, provides broader market opportunities. The DA said six intermediate products can be derived from cacao beans: cocoa nibs, cocoa liquor (tablea), cocoa cake, cocoa butter, cocoa powder and chocolate confectionary blocks. As a health food, cacao is packed with vitamins and antioxidants that make it almost a superfood or a natural multivitamin. That’s why it makes sense for the government and the private sector to place their bet on cacao, given its potential to create more jobs and increase the country’s export receipts. Since 2005

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All About Social Security

E have been learning about SSS pensioners sadly succumbing to private lending companies by pawning their ATM cards in exchange of a much-needed financial assistance. What’s heart breaking about this is that these pensioners have not been enjoying their hard-earned savings. Their pension proceeds are often tied up with the lending entity and would take years before they can fully pay for their loan. I have also heard from one of my friend’s distant relative that one of our pensioners have applied for a pension loan with SSS for his dialysis treatment and is entitled to the maximum loanable amount only to find out later that his monthly pension is already pawned. The pensioner can only get a measly sum of P7,000 per month, which is not enough for thrice-a-week dialysis sessions. When SSS started offering the Pension Loan Program (PLP) on September 3, 2018, its primary objective is to help retiree pensioners with their immediate financial needs so they can borrow at low interest rate. This is in response to the clamor

of senior citizens in the country to eliminate this prevalent practice of pawning ATM cards as collateral for short-term loans. To qualify to borrow under PLP, an SSS retiree-pensioner should meet the following conditions: n Must be 85 years old or below at the end of the month of the loan term; n Must have no outstanding loan balance or benefit overpayment payable to SSS from his/her monthly pension; n Must have no existing advance pension under the SSS Calamity Package; n Must be receiving his/her regular monthly pension for at least one month; and, n Status of his/her pension is “Active.” However, excluded from the program are the following: n Retiree-pensioners under the Portability Law or those who failed

to meet the required number of years provided under the law but could still avail themselves of some other retirement and other benefits; and n Those who are under the care and custody of a guardian. The loanable amount the retireepensioner may avail is based on the basic monthly pension (BMP) on top of the P1,000 additional benefit. At present, the maximum loanable amount is at P200,000 with an interest rate of 10 percent per annum. However, the net take-home pension of the pensioner-borrower should at least be 47.25 percent. Since mandatory registration is required for all SSS members and pensioners, they must be registered and have a dedicated account at the My.SSS Portal so that they can file for the PLP online when the PESONet Payment Facility becomes available for Pension Loans. Presently, only renewals of Pension Loans can be done online. Also needed are their current and active mobile number, and at least one of the following: a valid SSS UMID-ATM enabled ID card, a valid Union Bank of the Philippines Quick Card with a savings account number registered with SSS, or a valid Pension Savings Account Number registered with the SSS when the PESONet Payment Facility becomes available. To file for PLP, the retiree-pensioner must first log in his/her My.SSS account and then click on “Pension Loan Application” under the E-Services tab. The retiree-pen-

Listen to the Filipinos’ clamor to defend our sovereign rights–MARLAWPh Dennis Gorecho

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Aurora C. Ignacio

Lourdes M. Fernandez

Senior Editors

Creative Director Chief Photographer

Everything you need to know about the SSS Pension Loan

Pinoy Marino Rights

isten and respond to the clamor of the Filipinos to defend their sovereign rights and entitlements in the West Philippine Sea (WPS).

In a published statement, the Maritime Law Association of the Philippines (MARLAWPh) called on the national leaders to capitalize on the landmark Arbitral Award and to undertake a focused, determined and unwavering defense of our maritime jurisdiction and entitlements under the United Nations Convention on the Law of the Sea (UNCLOS). I was the 2016 MARLAW president when the five-member Arbitral Tribunal released its July 12, 2016 decision in favor of the Philippines on most of its submissions. MARLAWPh is an organization of lawyers and other professionals

engaged in maritime practice and helps spur the development and advance the interests of the various stakeholders in the Philippine maritime industry, as well as the maritime interests of the Philippines. MARLAW has been actively involved in the campaign on the WPS issue. The Philippines initiated in January 2013 the arbitration case (Philippines v. China, PCA Case 201319) wherein it sought, among others, a declaration that the countries’ respective rights and obligations regarding the waters, seabed, and maritime features of the West Philippine

Sea are governed by the UNCLOS. The decision declared that China’s historic rights claims over maritime areas inside the “nine-dash line” have no lawful effect as they exceed what they are entitled to under UNCLOS. There was no legal basis for China to claim historic rights to resources in areas falling within the “ninedash line.” The decision likewise noted that China violated the Philippines’ sovereign rights in its Exclusive Economic Zone by construction of artificial islands at seven features in the Spratly Islands, interfering with Philippine fishing and hydrocarbon exploration, and failing to prevent Chinese fishermen from fishing in the Philippines’ EEZ. MARLAW took note of President Duterte’s pronouncement, in his speech at the 75th UN Assembly on September 22, 2020, that the decision is “now part of international law, beyond compromise and beyond the reach of passing governments to dilute, diminish or abandon. We firmly reject attempts to undermine it.” Sadly, MARLAW expresses deep concern over the current response

sioner must agree to the terms and conditions of the program for him/ her to be able to proceed with the application. Other needed information must be filled out, and afterwards, click “Proceed.” The retireepensioner will then receive an e-mail confirmation of his/her pension loan application. It is advisable that they should download and print out a PDF copy of the Disclosure Statement. Loan proceeds will be released through the e-disbursement process and credited within five working days to the enrolled savings account of the retiree-pensioner. I would like to point out that for first time applicants and retiree-pensioners who prefer to apply over-thecounter at SSS branches must follow the Branch Number Coding Scheme being implemented by SSS or schedule an appointment online thru the My.SSS Member Portal. As of April 2021, there are around 188,904 borrowers with a total disbursement of P7.314 billion. We at SSS go beyond helping our members and pensioners even during their twilight years. Through the PLP, they can enjoy their retirement years without fear or worry of running out of funds for their immediate needs. Have a nice week everyone! Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

of our national leaders towards the occupation by China of the features in the WPS that are within the 200 nautical miles EEZ measured from the baselines in Palawan. The artificial islands built by China have gravely degraded the maritime ecosystem in the WPS and the illegal, unreported and unregulated fishing by Chinese vessels in our waters have deprived the Filipinos of their rightful share in the resources of the sea. MARLAW strongly believes that the rule of law, alliance with likeminded States and diplomacy especially with Asean are effective tools to achieve a peaceful resolution of the dispute in the WPS on the basis of the Philippine Constitution, UN Charter, UNCLOS and relevant principles of international law. Congress must also urgently and clearly define the limits of the maritime areas of Philippine archipelago as provided under UNCLOS by passing into law the pending Act to Define the Maritime Zones of the Republic of the Philippines. Another statement was released See “Gorecho,” A13

Opinion BusinessMirror

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US economy: Plenty of growth, not enough workers or supplies

Dr. Carl E. Balita

Entrepreneurs’ Footprints

By Paul Wiseman | AP Economics Writer

ASHINGTON—The US economy is sparking confusion and whiplash almost as fast as it’s adding jobs. Barely more than a year after the coronavirus caused the steepest economic fall and job losses on record, the speed of the rebound has been so unexpectedly swift that many companies can’t fill jobs or acquire enough supplies to meet a pent-up burst of customer demand. “Things exploded—it was like a light switch,” said Kirby Mallon, president of Elmer Schultz Services, a family-owned Philadelphia firm that repairs and maintains kitchen equipment for restaurants and other clients. “The labor market is just out of control. We literally cannot hire technicians.... We ramped up so quickly, the supply chain wasn’t ready for it.’’ Economic forecasters, with little historical precedent to guide them through the aftermath of a global pandemic, are pondering questions they can’t answer with any confidence: Does robust consumer spending reflect economic strength and resiliency? Or has it been temporarily propped up by federal stimulus checks? Was an April run-up in consumer prices a temporary blip? Or an ominous sign of accelerating inflation? Are two months of middling job growth the result of too much of a good thing—employers want to hire more than they can? Or a hint that the labor market isn’t as strong as economists think? In many ways, the news has been cause to cheer: The economy grew from January through March at a redhot 6.4% annual pace. And in the current quarter, that pace is thought to be accelerating to nearly double-digits. Yet the full portrait of the US economy is a rather more nuanced one. Here is a closer look at the vital signs:

Jobs

Employers last month added 559,000 jobs on top of 278,000 in April. Those would ordinarily be seen as quite healthy numbers. Yet against the backdrop of record-high job openings and free-spending consumers, forecasters had expected much more hiring. Some economists had envisioned the recovery from the pandemic recession driving monthly job growth of 800,000, 900,000, even 1 million or more. What explains the shortfall? Economists point mainly to what they call a short-term mismatch: Companies are posting job openings faster than applicants can respond. After all, many Americans are contending with considerable tumult at home—health issues related to Covid-19, child-care problems with schools slow to reopen, career uncertainty after many jobs permanently vanished over the past 15 months. And some people, earning more from federal and state jobless aid than they did when they worked, are taking their time before pursuing another job. Some say the labor shortage is nothing that can’t be solved the old-fashioned way: By raising pay and offering more generous benefits and working conditions. In fact, that process appears to have begun: Average hourly wages rose solidly in April and May. Consider Gina Schaefer, who owns 13 Ace hardware stores in Maryland, Virginia and Washington, D.C., and who has been rapidly staffing up for the spring and summer, when her sales typically hit highs. Schaefer has hired nearly 120 people since March, both seasonal workers and long-delayed replacements for people who left last year when Covid ravaged the economy. Her company pays a minimum of $15.50 an hour, to compete with larger chains that now pay $15, and provides health insurance, paid vacation, sick leave and a 401(k) plan after employees have been on the job for about six months. “We firmly believe that better workplaces do not have a problem finding employees,” she said.

Consumers

Quality. Agility. Tenacity

After months cooped up at home, millions of consumers have rushed

back out again, in buoyant spirits and eager to spend, their finances bolstered by $1,400 federal stimulus payments earlier this year. Among the affluent, sharp gains in home and stock market equity have further emboldened their impulse to spend. Consumer confidence is high. And Americans stepped up their spending again in April after a powerful gain in March fueled by $1,400 stimulus checks to most individuals. That said, Rubeela Farooqi, chief US economist at High Frequency Economics, sees cautionary signs. Confidence and spending, though still healthy, have trended lower. And retail sales were flat in April after having surged in March, suggesting that the positive effect of the stimulus checks might have faded. Similar trends occurred late last year after the effects of earlier federal stimulus money began to wear off. In addition, a monthly survey of consumer confidence by the Conference Board found that expectations for the next six months actually fell in May. “I’m not sure how this is going to pan out,’’ Farooqi says.

Inflation

Financial markets endured an unwelcome jolt last month when the Labor Department reported that consumer prices had jumped 0.8 percent from March to April and 4.2 percent from 12 months earlier—the largest year-over-year increase since 2008. Some leading critics, including former Treasury Secretary Larry Summers, have been warning that President Joe Biden’s trillions of dollars in federal stimulus money risk igniting inflation and forcing the Federal Reserve to resort to interest rate hikes, which could derail the economic recovery. But Fed Chair Jerome Powell and many economists say they think the inflation surge will prove short-lived. They say it reflects mainly temporary supply-chain bottlenecks that have forced up prices but that should ease over time. For now, though, shortages of lumber, computer chips and other materials have contributed to inflation pressures. Mallon at Elmer Schultz Services in Philadelphia said supply shortages are so severe in his industry that members of the the Commercial Food Equipment Service Association trade group are sharing inventory. “I can go to a friend if he has a part in stock,’’ he said. “In my 30 years in the business, no, I’ve never seen anything like it.’’

Housing

The housing market has served as a source of economic strength and resilience during the pandemic, supported by ultra-low mortgage rates and the desire of many locked-down families to move to more spacious digs to accommodate work-from-home needs. But with prices having risen beyond the reach of many and with the supply of homes for sale severely limited, the housing boom has lately shown signs of fatigue. Home construction tumbled 9.5 percent in April—a drop that economists attributed, at least in part, to builders postponing projects because of accelerating costs for lumber and other supplies that have contributed to swelling home prices. In April, sales of new homes dropped nearly 6 percent, and purchases of existing homes fell 2.7 percent. Many would-be buyers will remain on the outside looking in as long as a shortage of available homes keeps sale prices elevated. AP Business Writers Christopher Rugaber in Washington and Joyce M. Rosenberg in New York contributed to this report

small enterprise engaged in the business of preparing aspiring professionals for board examinations attempted to engage in ISO Certification in 2019. The company was very ambitious to take the road that even many educational institutions fell short of achieving. But it dared itself and its management to take the road to ISO Certification. And it became successful. It was the first business of its kind to have been awarded the seal of quality based on the international standards of ISO 9001:2015. The ISO Certification of the company was due for surveillance audit in June 2020—the peak of the pandemic experience. Its President and CEO prioritized the mental health of its people and navigated the business to survive the pandemic instead of the scheduled audit. His team was reluctant to postpone the required audit to maintain the ISO certification, but all that the founder wanted was to ensure that the company could survive the biggest blow in its 13 years of existence—the cancellation of all board examinations by the Professional Regulation Commission. Without examinations, who will take review classes? Then how can a review center survive? The company digitally transformed, nevertheless, and pivoted to create more products. From five program offerings during the preCovid period, the company now has 25 programs to offer. It has launched 10 new books in 2020, much more than the total number of books it has ever published in a decade. It has conducted countless webinars and learning sessions on international and national topics of interests attended by hundreds of thousands of diverse audiences. It has innovated itself to engage in services that it didn’t offer prior to the pandemic. It is now able to manage virtual events of various national organizations, launched its own digital television programs through its cumulative one million social media followers, and produced films and productions. It has helped schools and trained thousands of teachers in digital learning and developed its own learning management system. It has retained its social relevance through many socio-civic engage-

ments and many advocacies. The work-from-home set up enabled its people to optimize productivity and exhibit lifelong learning through its quick adoption of technology on how the company operates and delivers its services. With minimal rate of attrition, the company has kept its people and sustained its existence, ready for the future. There are three concepts that could have contributed to how the company has tactically survived and strategically thrived through the rough seas of the pandemic. These are quality, agility and tenacity. The quality is its input, agility is its process, and tenacity is in its output. Recently, the company passed the ISO surveillance audit with flying colors, and more than ever is ready for its post-pandemic existence. Indeed, being in the same storm does not guarantee similar prognosis on how the pandemic would impact the sail. What is real is that we are in different boats. Some are in yachts, luxury cruises, canoes, while others are in paper boats that are sinking. Others are drowning as some have already drowned. This figure of speech explains not only the situations of individuals but also of business organizations and enterprises through this pandemic sail.

The input of quality

The company should be consistent, persistent and insistent on its pursuit of quality. A corporate DNA endowed with quality considers not only what is in the product or service but more so on what the customers get out of it. The company’s most important customer is its people. The failure to bring out the joy in its internal customers may lead to an expensive

Wednesday, June 9, 2021 A13

high rate of attrition and the fatal syndrome of low productivity and unstable organizational culture. On the other hand, the joy of the internal customers—its people—radiates to teams delivering services that bring happiness, satisfaction, delight and joy to its external customers. This joy brings ripples of customer loyalty and excellent customer experience.

The process of agility

The external environment of the recent time is appropriately described as VUCA—volatile, uncertain, complex and ambiguous. The VUCA world threatens the weak but becomes an opportunity for the strong business organizations. The volatility of the current situation can benefit from the vision that serves as the north star in the organizational navigation. The uncertainty can inspire understanding, which comes handy in the information age. The complexity can trigger clarity with a small dose of critical thinking. The ambiguity can be counteracted by agility. The new VUCA for adaptive organization takes centerstage—vision, understanding, clarity and agility. Agility has become the antidote to the rapidly changing environment, regulations and realities of the pandemic time. The agile organization has a mindset that welcomes (and anticipates) changes and is quick to change its course like a boat sailing through a rough ocean. The vision, being its north star, guides every pivot towards it, regardless of the need for intentional redirections.

The output of tenacity

IT is the rough sails through the rough seas that make great sailors. Tenacity, the strength with a purpose, becomes characteristic of an organization in its essence and form. It is easier for the purpose-driven organization to be tenacious because the reason for its existence is clear, communicated and shared. Tenacity is achieved as the organization is strengthened by the crises that it may have survived, the failures it has committed, and the lessons it has learned. The wonders of human physiology set good examples of tenacity through the scar that replaces the wounded skin and which histological characteristic has become stronger after the wound heals. The palms of our hands become more rough and thicker as they are subjected to more

work and friction. Another example is the muscles that hypertrophy or enlarge its cellular and histological characteristics as they are frequently used. Such physiological adaptation prepared these organs and tissues to greater works in the future. Similarly, when confronted with crisis, an organization accesses the lessons of the past, utilizes the resources of the present and focuses on the envisioned future. These timelines in the organizational history strengthen the tenacity not only to survive but also to thrive. In the pursuit of quality, agility and tenacity, leadership is essential. It provides the influence needed to create a culture to engage teams and deliver results. It models, mentors and motivates people as it multiplies leaders within the organization. The leaders are able to innovate for, as it embraces, change. Bracing to prepare for the disruption from the Fourth Industrial Revolution, humanity was caught unprepared for a pandemic. No corporate analyst, futurist, psychic or fortuneteller was good (and lucky) enough to have documented and warned humanity against it. Economies of countries declined, corporate organizations suffered the shocks, and most businesses declared losses. People loss lives, livelihood and jobs awaiting relief, vaccines, medical breakthrough, and other miracles that could end the global ordeal. But some organizations and business enterprises are lucky enough to have been able to survive and thrive. The luckier ones are able to grow and are prepared to glow. These are organizations and enterprises that have quality, agility and tenacity. The Carl Balita Review Center has its footprints marked through a rented table space in Morayta, Manila, but in 14 years has evolved as a brand leader in the test preparation business with more than a hundred branches in all major cities in the country. It has become a multi-awarded enterprise that has expanded to some part of the world and is proudly an organization that is ready for the post-pandemic world. Most importantly, it has bridged the dreamers to be one with their dreams. CBRC’s hundreds of thousands of products now live their lives as professionals of the world. For feedback, please send e-mail to drcarlbalita@ yahoo.com.

‘Japan must work with TSMC to build chip base’ By Isabel Reynolds, Pavel Alpeyev, Yuki Furukawa & Emi Nobuhiro

Bloomberg Opinion

apan can’t build a cutting-edge chip development and manufacturing base on its own, and must seek to cooperate with Taiwan Semiconductor Manufacturing Co., according to Akira Amari, a senior member of the ruling Liberal Democratic Party. Amari, a former economy minister who heads an LDP working group on semiconductor strategy, added that the government must be prepared to spend trillions of yen to keep up with the US and Europe. Both have plans to pour money into the industry amid a global shortage of semiconductors, including advanced logic chips that are essential for everything from artificial intelligence to autonomous driving. “Unlike the purely domestic, independent way it was done in the past, I think we need to cooperate with

Gorecho. . .

continued from A12

by faculty members and alumni of my alma mater UP College of Law calling on President Duterte to take back his controversial remarks on the WPS. Signatories, including myself, objected to the president calling the arbitral win in 2016 as a “mere piece of paper,” and in saying that Beijing is

overseas counterparts,” Amari said in an interview in Tokyo on Monday. “The world’s top logic chipmaker is TSMC, so we must think about how to cooperate with them.” His remarks came days after the powerful Ministry of Economy, Trade and Industry issued a report saying Japan would seek to drive growth in the nation’s chip industry as a “national project” on a par with securing food and energy, including through joint ventures with overseas chip foundries. Semiconductor shortages have plagued the global economy as it emerges from the coronavirus pandemic, costing automakers, for example, a projected $110 billion in lost sales. From a security point of view, Japan should work only with allies and “like-minded countries,” Amari added, saying that it would be “absolutely out of the question” to seek to bring in a Chinese company. He said that although South Korea boasts some of the world’s top chipmakers, it is an “extremely difficult

country” whose relationship with China is complicated. While Japan has in the past tried to bolster its semiconductor industry, the idea has gained new urgency amid the chip shortages that have weighed on manufacturing across a range of industries. Japanese automakers, from Toyota Motor Corp. to Nissan Motor Co., are critical to its economy. Japan’s share of global semiconductor sales dwindled to just 10 percent in 2019, down from 50 percent in 1988. The country still has 84 chip factories, the most in the world, but they’re not producing enough highend products. As a result, Japan now has to import 64 percent of its semiconductors. Former Prime Minister Shinzo Abe and Finance Minister Taro Aso act as advisers to Amari’s working group on semiconductors. Abe has told the group that the industry needs support on a different scale from before. Prime Minister Yoshihide Suga has also said the issue will be an important part of his govern-

ment’s growth strategy. Japan lost its place as a semiconductor superpower because of a number of factors, including trade tensions with the US in the 1990s and an industry shift toward customization that gave rise to so-called foundries like TSMC. The Japanese government’s approach of creating a single local champion by combining struggling units of domestic companies largely missed the mark. Elpida Memory Inc., the country’s last computer memory maker, filed for bankruptcy in 2012. Japan Display Inc., the equivalent effort to save the flatpanel industry, hasn’t made a profit in seven years as it struggles against South Korean and Chinese rivals. “This sort of made-in-Japan selfreliance approach hasn’t worked out well,” Kazumi Nishikawa, a director at METI’s IT industry division, said in a separate interview. “This time the goal is to offer a strong incentive for an overseas logic foundry to come to Japan.”

in possession of the country’s waters. “When a President speaks on a matter of foreign policy, the world listens. The statements of the President betray the interests of the country he swore to protect,” the document said. President Duterte’s remarks trivialize the Arbitral Award, contradict the country’s own legal position, and effectively waive rights already won. “The Arbitral Award is a victory and the pride of the Filipino people; it does not belong to the waste can.”

President Duterte is urged to immediately retract his statements and recall his duty to act in the best interest of the Philippines and the Filipino people. Duterte recently said that his promise during 2016 election to ride a jet ski to challenge Chinese incursion in Philippine waters was a “pure joke” and that those who believed it were “stupid.” UPLAW stressed that President Duterte’s statements are disheartening to Filipino fishermen who

look to him to safeguard the Philippines’ sovereign rights in waters, which, by international law, are for our exclusive benefit. The WPS dispute will again be a hot issue for next year’s national election. It should not be treated as a joke.

Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

A14 Wednesday, June 9, 2021

Higher jobless numbers in April temporary–econ team

By Cai U. Ordinario

@caiordinario

HE President’s economic team believes the reversal of the gains in employment in April will be temporary and is mainly attributed to the reimposition of the Enhanced Community Quarantine (ECQ).

On Tuesday, the Philippine Statistics Authority (PSA) said 4.14 million Filipinos were jobless, a 0.19-million increase from January 2021, but 3.09 million higher than April 2020. Data also showed 7.45 million Filipinos are considered underemployed or looking for additional hours of work or jobs. This is 1.05 million more than the 6.4 million recorded in April 2020 and 0.86 million more than January 2021. “This [ECQ reimposition] resulted in a temporary reversal of our first quarter employment gains, which show the tight link between labor market outcomes and the level of quarantine restrictions,”

the President’s economic team said in a statement. “However, compared to last year’s ECQ, the overall labor market outcomes are substantially better as we took a more riskbased approach in imposing restrictions,” they added.

Recovery strategy

Socioeconomic Planning Secretary Karl Kendrick T. Chua, Finance Secretary Carlos G. Dominguez III and Budget Secretary Wendel E. Avisado said the imposition of the ECQ was not wasted and noted that this led to a decline in Covid-19 cases in Metro Manila or the National Capital

Region (NCR). This was crucial since the bed capacity in the NCR Plus area increased and the prevent, detect, isolate, treat, and recover (PDITR) strategy was further enforced. This, the economic managers said, will help the government implement its threepillar strategy to ensure the Philippine economy’s recovery. The three pillars are the further reopening of the economy towards modified general community quarantine (MGCQ) or better; timely implementation of the P2.7-trillion recovery package; and the accelerated implementation of the vaccination program. They said reopening the economy will expand the age group allowed to go out and resume face to face learning in low-risk areas‚ provided the appropriate safeguards such as the PDITR are put in place. The amount for the recovery package, the economic managers said, includes the 2021 budget, the 2020 budget extension, the Bayanihan 2 extension, the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, and the Financial Institutions Strategic Transfer (FIST) Act. Continued on A5

JAPAN PROVIDES P10-B LOAN PACKAGE FOR COVID-19 WAR CHEST

HE Japanese government has made available P10 billion worth of quick-disbursing budgetary support to beef up the national government’s “Covid-19 war chest.” The budgetary support is part of the Post-Disaster Standby Loan Phase 2 (PDSL 2). The amount was approved as another tranche of the PDSL 2 by Prime Minister Yoshihide Suga in a teleconference with President Duterte last month. The PDSL 2, signed in September 2020, is a contingency fund that entitles the Philippine government to withdraw up to P25 billion worth of loans to help finance its response measures in the aftermath of natural and health-related disasters. “This third and latest disbursement under the PDSL 2 is intended to further augment the GOP’s Covid-19 war chest, especially now that the Philippines continues to show signs of recovery following the lifting of the Enhanced Community Quarantine (ECQ ) in the NCR Plus reimposed on March 29,” Japan International Cooperation Agency (Jica) said in a statement.

To date, the Japanese government has infused a total of P20 billion into the national government’s coffers, with the first tranche amounting to P5 billion disbursed in October 2020 to boost the GOP’s pandemic response. The second tranche, which was also worth P5 billion, was released in January 2021 to facilitate a faster recovery from Typhoons Quinta, Rolly and Ulysses. The PDSL 2 forms part of the GOJ’s comprehensive assistance to the GOP in this time of the pandemic. Aside from the PDSL 2, Japan provided the Philippines a P25-billion financing under the Covid-19 Crisis Response Emergency Support Loan (CRESL) in July last year. Along with these two loan accords, Japan further expressed its solidarity with the Philippines through a P1-billion grant aid for the procurement of medical equipment and establishment of laboratory surveillance sites. The Japanese government also recently announced P500 million worth of grant assistance for cold chain development in the Philippines. Cai U. Ordinario

Private schools run to CTA to reverse BIR’s 25% tax order T

HE legal team of private education stakeholders sued the Bureau of Internal Revenue before the Court of Tax Appeals in Quezon City on Monday to stop the implementation of BIR Revenue Regulations (RR) 5-2021 which jacks up the corporate income tax of private schools by 150 percent. The petition for certiorari prohibition, with prayer for temporary restraining order (TRO) and injunction, was filed even as at least seven senators have urged the tax agency to withdraw its order, as this distorts —even does the exact opposite—of legislators’ intent in the recently enacted Corporate Recovery and Tax Incentives for Enterprises Act (CREATE). Lawyers John Bonifacio and Benedict Tugonon said the petitioners are seeking immediate rectification of RR 5-2021 which they fear, if implemented, will bankrupt private schools at a time when the private education sector is fighting for its survival as enrollment has plunged on account of pandemic-induced lockdowns. According to Cocopea and 27 Proprietary Educational Institutions (PEIs) from all over the country—with 22 schools from Luzon, 3 from Visayas, and 2 from Mindanao—they strongly object to the provisions in RR 5-2021 which inserted the phrase “non-profit” in the definition of PEIs. In a memorandum sent to Cocopea on June 1, 2021, the BIR rejected the appeal of the group, asserting that RR 5-2021 is consistent with the Tax Code. In support of the education groups’ petition, Senator Juan Edgardo “Sonny” Angara has filed Senate Bill No. 2272 to clarify the language of Section 27 (B) of the Tax Code and to address the confusion caused by RR 5-2021. In his filing, Angara stated, “To remedy this apparent ambiguity and protect the Constitutional mandate of incentivizing proprietary educational institutions through a law passed by Congress, this measure seeks to amend Sec. 27(B) to clearly indicate that the preferential tax rate shall apply to: a. all proprietary educational institutions, including those that are stock and for profit; and b. nonprofit hospitals.” Angara said, “The 25 percent was not imposed on schools in the past. Schools are among the hardest hit institutions during this pandemic. We can be more sensitive in our policies.” Angara’s call for the BIR to redress its er-

ror is backed by Senate President Pro Tempore Ralph Recto, Minority Leader Franklin Drilon, and Senators Sherwin Gatchalian, Nancy Binay and Richard Gordon.

‘Immediate rectification’

In a statement on Tuesday, the petitioners said they are seeking an “immediate rectification” of BIR’s Revenue Regulation 5-2021, which if implemented will have “widespread consequences to stakeholders of the private education sector at a time when the private education sector is fighting for its survival amidst plunging enrollment caused by the pandemic.” Meanwhile, independent policy analysis organization Action for Economic Reforms (AER) on Tuesday also joined calls for the BIR and Department of Finance to rectify its policy. AER said in a statement it backs the call of senators and the private education sector for the BIR to halt the imposition of higher tax rate of 25 percent on private schools from the current 10 percent, especially given that they have been reeling from the impact of the pandemic due to decreased enrollment following the shift to online learning. The AER said the newly signed CREATE law, which they supported, temporarily reduced the tax rates of proprietary educational institutions from 10 percent to 1 percent in a bid to lighten the financial burden of schools during the Covid-19 pandemic. However, AER pointed out that BIR issued Revenue Regulation 5-2021 which effectively nullified the temporar y 1 percent tax rate set under CREATE and instead raised tax rates on proprietary educational institutions that are forprofit to 25 percent. “This ruling creates unfairness or horizontal inequity, wherein for-profit schools are discriminated vis-a-vis non-profit schools. Private schools also play a public function. In economic jargon, education, even if administered by the private sector, provides positive spillovers for society,” AER said. “We urge the Bureau of Internal Revenue and the Department of Finance to immediately rectify this policy for schools to avail themselves of the much-needed 1-percent tax rate. We believe that schools need all the support they can get during this time, and doubling their tax rates will only hurt the sector more,” it added. Continued on A5

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, June 9, 2021

PNOC in talks with PSALM over sale of ‘banked’ gas

By Lenie Lectura

@llectura

tate firms Philippine National Oil Co. (PNOC) and Power Sector Assets and Liabilities Management Corp. (PSALM) signed a memorandum of understanding (MOU) for the possible sale of “banked gas” from the Malampaya gas field. PNOC posted on its website Tuesday that aside from the MOU, both firms also signed a non-disclosure agreement (NDA) pertaining to the possible deal. “PNOC President Reuben Lista and PSALM President Irene Joy Garcia signed a MOU and NDA on June 7, 2021 for the possible sale and purchase of the PNOC Banked Gas.” No other details were provided. When sought to elaborate if PSALM is indeed buying the banked

gas of PNOC, Lista answered in the affirmative but did not provide details. “Kung ano ang bili nila sa SC [Service Contract] 38 ang initial na pinag-uusapan [initial discussions focused largely on the cost of SC 38],” said Lista when asked about the value of the banked gas. The PNOC board earlier authorized the PNOC management to enter into comprehensive discussions or negotiations below the $6.616 per petajoules (Pj) under the Ilijan

gas-fired power plant’s gas and sale purchase agreement (GSPA). Iljan power plant, one of the gas plants fueled by the Malampaya gas facility, has a contract with the Malampaya consortium that will expire in 2022. PNOC-E x plorat ion Cor p. (PNOC-EC), which is part of the Malampaya consortium, bought 108.6 Pj in 2009 valued at P14.4 billion. Of which, 4.61 Pj was sold to PSALM in 2013 for P937 million. PNOC also sold 6.324 Pj to Shell in 2015 for P2.5 billion. Based on PNOC’s 2019 computation, the value of banked gas has reached $10.50 per petajoules (Pj) but since the firm was given the goahead to negotiate the price, Lista said then that PNOC was selling it “at $9.70 something.” Back then, the total remaining banked gas was previously recorded at 97.67 (Pj) valued at $700 million to $750 million. First Gen Corp. was among those interested to buy PNOC’s banked gas. Davao City-based businessman

ABS-CBN losses widen to ₧1.9B in Q1 By Lorenz S. Marasigan @lorenzmarasigan

BS-CBN Corp. saw its net loss widening in the first quarter, as revenues continued to drop following the refusal of Congress to renew its franchise last year. Based on its quarterly report disclosed to the stock exchange, the Lopez-led broadcaster recorded a 158.7-percent widening of its net loss to P1.944 billion from P751 million the previous year. Its consolidated revenues stood at P3.92 billion, a 54.6-percent decline from P8.63 billion the year prior, as advertising revenues plunged by 78.3 percent to P929 million from P4.28 billion, while consumer sales plummeted to P3 billion from P4.38 billion.

The broadcaster was able to lower its cost and expenses by 36.9 percent to P5.77 billion from P9.15 billion, but it was not enough to offset the decline in revenues. Last week, ABS-CBN said it signed a standstill agreement with its lenders, giving the Lopez-led company a bit of breathing room to pay off its obligations. “The existing lenders of the company agreed to make its standstill agreement with the company effective, i.e. not to declare any event of default or to exercise any rights or remedies under existing loan agreements, after compliance by the company with the lenders’ condition of the creation of a mortgage and security interest over certain assets of the company,” a regulatory filing read.

According to its third quarter of 2020 financial statement, the company had a total debt of P21.48 billion. This includes debt of its subsidiaries, such as SkyCable and ABSCBN International. To recall, ABS-CBN lost its franchise bid in May last year, after the House of Representatives voted against the renewal of its license to operate. ABS-CBN currently buys block time slots from different broadcasters, including TV5 of businessman Manuel V. Pangilinan. It also streams its content online. Aside from the limited broadcasting operations, the Lopez-led company also had to close down some of its consumer sales companies, such as Kidzania Manila and Studio XP due to the Covid-19 pandemic.

Aboitiz Group vows to support MEZ II locators

boitiz InfraCapital Inc., a unit of listed firm Aboitiz Equity Ventures Inc., on Tuesday said the operations of the 63-hectare Mactan Economic Zone II (MEZ II) will remain unhampered. MEZ II hosts 49 locators, 70 retail stores, services and restaurants, 18 office spaces, and a transportation hub. More than a year since the first community quarantine in Lapu-Lapu City, Cebu, Aboitiz said MEZ II continues to show resilience as it maintains stable industrial operations amid the ongoing pandemic. Along with the rest of the Aboitiz Group, the economic zone extended concessions to its locators by offering a 50-percent discount on rent covering a 5-month period last year, the only industrial development to do so in the Philippines. “As we all gradually recover from the impact of the Covid-19 pandemic, we remain committed in helping our partner locators get back on their feet,” Rafael Fernandez de Mesa, first vice president for the Aboitiz Integrated Economic Centers, said. “We are hopeful that our locators will continue to show the same level of trust and commitment that Aboitiz, MCIAA [Mactan-Cebu International Airport], the government and the Cebuano people have shown them for the past 25 years,

Mactan Economic Zone II is a 63-hectare Philippine Economic Zone Authority-registered economic zone located in Lapu-Lapu, Cebu. Photo from www.aboitizinfracapital.com

by choosing to extend their agreements with us for an even longer period of time.” MEZ II is a 63-hectare Philippine Economic Zone Authority-registered mixed-used development that hosts 49 industrial locators in light to medium industries that include precision instruments, medical equipment, communication and electronics, automotive supplies, apparel and furniture. With the support of the LapuLapu City government, it was able to operate through the strictest periods of lockdown. Unhampered operations mean that locators can continue to provide jobs for their 12,000 employees, even as they adapt to production demand changes, labor

support challenges and supply chain ecosystem constraints. MEZ II is operated by Aboitiz InfraCapital, in partnership with the MCIAA. The Aboitiz Group has been managing MEZ II for over 25 years. In addition, the economic zone has offered its locators a preferential rate scheme beyond their current lease term, an offer that has been well received by locators, as a majority have chosen to avail of an initial extension. To ensure minimal disruption, disinfection of common areas in zone is regularly scheduled. A strict no face-mask, no entry policy is implemented, with safety reminders posted throughout the development. VG Cabuag

Dennis Uy was reportedly also interested but Phoenix Petroleum, one of the companies controlled by Uy, denied this, saying it has no knowledge of any interest to purchase banked gases. Earlier, Phoenix Petroleum and China National Offshore Oil Corp. (CNOOC) signed a memorandum of understanding with PNOC. The MOU allows the 3 companies to explore and discuss business opportunities and cooperation in relation to the equity investment in Tanglawan Philippine LNG Inc. and other companies relating to the project, PNOC facilities, market development, PNOC banked gas, and future energy projects. Tanglawan used to be the planned joint venture between Phoenix Petroleum and CNOOC Gas and Power Group Co. Ltd., China’s largest LNG importer and terminal operator. The joint venture did not take off as Uy’s Udenna Corp. purchased instead the Malampaya stakes of Chevron and Shell Philippines Exploration.

Scrap IPO requirement to boost investments in energy sector–solon

lawmaker on Tuesday proposed the lifting of the initial public offering (IPO) requirement for power generation companies (gencos) to encourage more investments in the power sector. “In order to promote competition and encourage market development, we have to relax some policies such as the public listing which proved to be burdensome to generation companies especially to small renewable energy (RE) gencos that have difficulty in complying,” Senator Sherwin T. Gatchalian said. Under the Electric Power Industry Reform Act (EPIRA) of 2001, all private gencos and distribution utilities (DUs) are directed to sell a portion of at least 15 percent of common shares to the public in 5 years. Under Senate Bill 2217, Gatchalian said Section 43(T) of Republic Act 9136, otherwise known as the EPIRA Act, no longer serves its purpose. “The initial purpose of the public offering requirement for generation companies in the EPIRA has been rendered irrelevant given all the developments in the electric power sector. If we were to encourage more investments in generation to meet our demand needs in the next 20

years, it is crucial to eliminate this additional barrier to entry,” Gatchalian said. He said there is an urgent need to attract more investments in the generation sector as the next 20 years will require an additional capacity of 71,817 megawatt (MW) installed capacity by 2040. The chairman of the Senate Energy Committee said 9,508MW or 13.24 percent of the additional total installed capacity will come from RE capacity to meet the one-percent renewable portfolio standard requirement under the Renewable Energy Act of 2008. When sought for comment, the Energy Regulatory Commission (ERC) is supportive of this measure, saying this would shorten the processing time of permits sought by gencos. “Currently, one of the reasons why the commission is limited to just issuing a Provisional Authority to Operate (PAO) is the inability of some gencos to comply with the IPO requirement. Thus, we recognize the objective of the measure and the wisdom behind the move to dispense with the requirement,” said ERC Commissioner Rexie Digal in a text message. Lenie Lectura

Companies BusinessMirror

Wednesday, June 9, 2021

EDC secures nod of SEC for ₧15-B green bond offer

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has approved Energy Development Corp.’s (EDC) public offering of up to P15 billion in fixed-rate Asean green bonds.

In its meeting on June 8, the SEC en banc gave its nod to the registration statement of EDC covering securities under the EDC Asean Green Bond Program which may be issued in one or more tranches within 3

years, subject to certain remaining requirements. The said debt paper should comply with the Asean Green Bonds Standards, which require that the proceeds should be exclusively ap-

plied to finance or refinance, in part or in full, new and existing eligible green projects. Eligible green projects include renewable energy, energy efficiency, pollution prevention and control, environmentally sustainable management of living natural resources and land use, clean transportation, climate change adaptation and green buildings. For the first tranche, EDC will offer up to P3 billion of three-year bonds due in 2024 and five-year bonds due in 2026, and an oversubscription option of up to P2 billion. Proceeds will be used to fund geothermal growth and maintenance capital expenditure (capex)

projects, including a portion of the capex for its Palayan Bayan Binary Project, Mindanao III Binary Project, and other geothermal capex for natural catastrophe resiliency, powerplant equipment upgrades, spare parts replacements and other capex projects. The bonds will be offered at face value, and will be listed and traded on the Philippine Dealing and Exchange Corp. BDO Capital and Investment Corp. and BPI Capital Corp. were assigned as joint issue managers, joint lead underwriters and joint bookrunners for the offering. SB Capital Investment Corp. will serve as co-lead underwriter.

‘PLDT should aim for excellence in 3 areas’ By Lorenz S. Marasigan @lorenzmarasigan

lfredo Panlilio, who succeeded Manuel V. Pangilinan as the president and CEO of PLDT Inc., vowed to promote excellence in three key areas to help the company grow further. In accepting his appointment as the 6th Filipino CEO of PLDT, Panlilio thanked Pangilinan for “graciously preparing and guiding” him to become the company’s new chief executive. He admitted that he has “big shoes to fill” given that Pangilinan, who will remain as the company’s chairman, has “set the bar so high.” Panlilio said he will “build upon” Pangilinan’s “legacy in PLDT.” This, he said, means the promotion of excellence in three key areas. “We need to be excellent in three key areas: we need to operate efficiently, we need to continue to innovate, and we need to improve customer experience,” Panlilio said. To achieve this goal, Panglinan said PLDT has to spend “recordbreaking” capital expenditures. The company is spending between P88 billion and P92 billion in capital expenditures this year, as it continues to build its mobile and fixed line

networks. The capital expenditures for 2021 include the deployment of 3,800 5G base stations, 4,000 4G base stations, 1.7 million fiber to the home ports, and 125,000 kilometers of fiber optic cables. “We support what Al said about promoting operational excellence and delivering the kind of global standard for customer experience and care. We do need as a core requirement an excellent network and proof of that is the rapid build out of 5G,” he said. As of May, Smart Communications Inc. has fired up more than 3,000 5G sites across the country. Panlilio added that the aggressive push for 5G is part of the company’s efforts to win against its competitors. He noted, however, that the benchmark that his group uses is not based on local numbers, but on international standards. “We benchmark ourselves against regional telcos, not local competition. We feel that’s what is deserving of Filipinos—a service that is world class. We are wary of what our competition is doing. But, at the end of the day, it’s going to be the strength of the service and experience that will win in the market,” he said. Pangilinan noted that his group is hopeful of monetizing its invest-

ments in 5G “sooner rather than later.” “Part of the revenue improvement we’ve seen in the past few years is the migration from 3G to 4G and we’d

like to see further improvement in our revenue as a consequence of the migration from 4G to 5G, which I hope Al can accomplish sooner rather than later.”

mutual funds

June 8, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

217.87

3.06%

-6.56%

-4.06%

-4.11%

ATRAM Alpha Opportunity Fund, Inc. -a

1.3118

25.05%

-5.16%

0.5%

-0.09%

4.24%

-11.15%

-6.45%

-4.87%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7632 5.18%

-6.24% n.a.

-5.06%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7141 3.57%

-6.09% n.a.

-3.71%

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

5.25%

-4.59%

-2.52%

-3.66%

0.689

-4.07%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9805

4.7603

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

-8.37%

-7.35%

-5.54% n.a.

-6.28%

4.58%

-4.79%

-2.96%

-4.92%

3.53%

-4.68%

-3.31%

-4.17%

15.57% n.a. n.a.

-3.93%

95.54

18.46%

PAMI Equity Index Fund, Inc. -a

44.5451

Philam Strategic Growth Fund, Inc. -a

468.6

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

1.0542

Philequity Dividend Yield Fund, Inc. -a

1.1287

5.71%

-4.4%

-2.47%

Philequity Fund, Inc. -a

33.344

5.81%

-4.22%

-1.91%

-4.1%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8674

3.21% n.a. n.a.

-4.99%

-3.38%

Philequity PSE Index Fund Inc. -a

4.5637

5.13%

-4.2%

-2.19%

-4.75%

Philippine Stock Index Fund Corp. -a

764.09

5.24%

-4.08%

-2.3%

-4.69%

Soldivo Strategic Growth Fund, Inc. -a

0.6911

4.35%

-8.44%

-5.52%

-3.87%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4602

2.85%

-6.46%

-3.7%

-4.51%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8728 4.66%

-4.43%

-2.46%

-4.89%

United Fund, Inc. -a

-4.43%

-1.39%

-3.77%

-3.86%

-1.71%

3.1938

4.41%

-9.32%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 102.5474

5.18%

-4.66%

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

$1.2888

36.18%

4.73%

8.95%

7.14%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7573

29.48%

10.27%

11.45%

5.05%

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

1.6642

6.1%

-1.39%

-1.67%

-0.26%

ATRAM Philippine Balanced Fund, Inc. -a

2.2126

4.43%

-1.84%

-0.9%

-3.19%

First Metro Save and Learn Balanced Fund Inc. -a 2.5614

3.28%

-1.02%

-0.93%

-2.5%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1918

0.21% n.a. n.a.

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

3.39%

0.94%

1.9345

0.32%

-1.5%

PAMI Horizon Fund, Inc. -a

3.6414

2.3%

-0.46%

-0.89%

-3.87%

Philam Fund, Inc. -a

16.3328

2.91%

-0.3%

-0.88%

-3.57%

Solidaritas Fund, Inc. -a

2.0389

3.38%

-1.29%

-0.66%

-2.64%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4705 2.43%

-2.63%

-1.84%

-2.87%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.975

1.1% n.a. n.a.

-4.65%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8931

1.17% n.a. n.a.

-5.91%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8792

1.87% n.a. n.a.

-5.78%

Sun Life Prosperity Dynamic Fund, Inc. -a

3.35%

-2.42%

0.8662

-3.28%

-2.23%

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

$0.03799

-1.2%

3.12%

1.29%

-2.89%

PAMI Asia Balanced Fund, Inc. -b

$1.1501

18.02%

2.65%

5.38%

-0.01%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.6632 22.17%

8.05%

8.27%

3.33%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.207 11.95%

4.65%

4.6%

0.41%

Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a

371.53

2.05%

3.15%

2.46%

0.12%

ATRAM Corporate Bond Fund, Inc. -a

1.9172

-1.01%

1.03%

0.13%

0.89%

Cocolife Fixed Income Fund, Inc. -a

3.2265

1.36%

3.8%

4.36%

0.37%

Ekklesia Mutual Fund Inc. -a

2.2563

-0.98%

2.19%

1.41%

-1.73%

0.05%

3.17%

1.7%

-0.74%

-3.42%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

June 8, 2021

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

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

106.4 84.95 24.2 9.56 48.8 10.2 19.6 22.85 55.55 17.2 124.3 75 1.32 4 3 1.33 0.395 0.69 205 1.03

106.9 85 24.3 9.57 48.85 10.66 20 22.9 56 17.24 124.5 75.45 1.38 4.05 3.15 1.42 0.42 0.71 206 1.05

106.4 85.05 24.3 9.69 48.85 10.92 20 22.9 55.5 17.2 124 75 1.3 4.05 3 1.44 0.4 0.68 199 1.05

107.8 85.25 24.3 9.69 48.95 10.92 20 22.95 55.55 17.3 125 75.3 1.35 4.12 3.15 1.44 0.42 0.69 206 1.05

105.5 84.5 24 9.55 48.2 10.2 20 22.5 55.5 17.2 124 74.85 1.3 4 3 1.42 0.4 0.67 196.2 1.05

106.9 85 24.2 9.57 48.85 10.2 20 22.85 55.55 17.24 124.5 75 1.3 4 3.15 1.42 0.42 0.69 206 1.05

2,515,180 268,157,021 2,424,750 206,292,519.50 84,900 2,057,345 127,800 1,226,590 2,289,100 111,751,965 88,100 954,208 300 6,000 564,700 12,847,290 1,660 92,158 118,600 2,044,984 103,700 12,904,858 8,750 656,512 105,000 137,160 65,000 261,720 24,000 72,300 7,000 9,980 1,730,000 709,900 77,000 52,700 10,370 2,100,865 17,000 17,850

-96,255,862 81,151,690 1,779,255 -49,022 -30,040,790 931,700 266,545 33,300 -767,291 -22,788.50 8,150 7,100 -680 1,207,992 -

INDUSTRIAL AC ENERGY 7.59 7.6 7.75 7.88 7.55 7.59 26,376,800 203,026,896 ALSONS CONS 1.39 1.4 1.35 1.44 1.35 1.4 6,116,000 8,579,420 23.1 23.15 23.15 23.4 22.9 23.15 3,619,100 83,598,350 ABOITIZ POWER BASIC ENERGY 0.8 0.81 0.84 0.84 0.79 0.8 48,543,000 38,973,540 FIRST GEN 30.75 30.8 30.9 32.3 30.7 30.8 2,013,700 63,335,355 68.5 68.8 69.3 69.4 68.35 68.5 116,950 8,012,998.50 FIRST PHIL HLDG MERALCO 275 275.8 275.6 281 275 275 263,070 72,607,134 14.82 14.84 14.88 14.98 14.8 14.84 350,500 5,208,742 MANILA WATER PETRON 3.22 3.26 3.23 3.26 3.2 3.26 2,587,000 8,339,880 PETROENERGY 4.06 4.14 4.1 4.1 4.1 4.1 20,000 82,000 12.9 13 12.8 13.14 12.8 13.14 30,600 395,102 PHX PETROLEUM PILIPINAS SHELL 20.6 20.7 20.85 20.85 20.5 20.6 407,500 8,396,565 11.78 11.8 11.74 11.96 11.7 11.8 663,200 7,872,880 SPC POWER 6.3 6.4 6.45 6.56 6.27 6.4 2,142,600 13,845,186 AGRINURTURE AXELUM 2.99 3 2.99 3 2.95 3 209,000 623,390 23.75 23.8 23.9 24.05 23.6 23.75 2,603,700 62,001,015 CENTURY FOOD DEL MONTE 15.22 15.4 15.9 16.5 15.4 15.4 1,582,300 25,190,150 DNL INDUS 8.06 8.07 8.1 8.11 7.98 8.07 1,568,300 12,632,602 9.66 9.79 9.63 9.79 9.61 9.79 7,179,900 69,147,782 EMPERADOR SMC FOODANDBEV 71.3 71.5 71 71.7 71 71.5 270,320 19,324,839 ALLIANCE SELECT 0.63 0.64 0.63 0.65 0.63 0.63 105,000 66,700 1.42 1.44 1.44 1.46 1.42 1.44 8,478,000 12,206,960 FRUITAS HLDG GINEBRA 73.1 73.5 72.1 74.25 72 73.1 36,190 2,646,959 198.5 198.8 196.1 198.8 196.1 198.5 557,670 110,481,432 JOLLIBEE LIBERTY FLOUR 29.1 29.75 30 30 29.75 29.75 5,000 149,275 MACAY HLDG 7.26 7.66 7.21 7.67 7.2 7.2 20,500 147,717 6.48 6.5 6.59 6.59 6.45 6.5 73,000 474,007 MAXS GROUP MG HLDG 0.3 0.305 0.26 0.31 0.26 0.3 27,410,000 8,042,150 MONDE NISSIN 13.46 13.48 13.46 13.48 13.38 13.46 9,874,000 132,596,134 8.01 8.02 8.08 8.08 8.01 8.02 69,000 554,705 SHAKEYS PIZZA ROXAS AND CO 1.06 1.07 1.06 1.09 1.04 1.07 1,772,000 1,896,620 4.5 4.55 4.47 4.55 4.47 4.5 130,000 590,020 RFM CORP ROXAS HLDG 1.47 1.51 1.47 1.52 1.46 1.52 11,000 16,160 SWIFT FOODS 0.134 0.135 0.141 0.145 0.134 0.135 39,750,000 5,489,860 140 141.3 141 141.7 137.7 141.3 423,260 59,205,479 UNIV ROBINA VITARICH 0.91 0.92 0.89 0.94 0.89 0.91 8,442,000 7,707,770 VICTORIAS 2.48 2.54 2.42 2.5 2.42 2.5 34,000 84,740 60 62.95 60.1 60.1 60 60 1,200 72,020 CONCRETE B CEMEX HLDG 1.35 1.36 1.33 1.36 1.32 1.36 2,936,000 3,947,580 2.92 2.93 2.9 2.95 2.86 2.92 1,222,000 3,547,190 DAVINCI CAPITAL EAGLE CEMENT 14 14.1 13.32 14 13.32 14 437,200 6,073,472 EEI CORP 7.22 7.3 7.3 7.3 7.22 7.22 307,400 2,220,061 6.6 6.61 6.65 6.65 6.56 6.6 842,700 5,559,932 HOLCIM MEGAWIDE 6.7 6.75 6.6 6.76 6.6 6.75 528,100 3,530,305 PHINMA 12.6 12.7 12.6 12.7 12.58 12.7 27,600 348,194 1.08 1.1 1.1 1.16 1.07 1.1 587,000 656,060 TKC METALS VULCAN INDL 2.11 2.13 2.16 2.16 2.09 2.11 4,552,000 9,594,320 1.78 1.79 1.84 1.84 1.76 1.79 763,000 1,361,410 CROWN ASIA EUROMED 1.88 1.96 1.96 1.98 1.85 1.95 161,000 310,180 LMG CORP 4.16 4.6 4.24 4.24 4.15 4.15 46,000 192,530 5.19 5.2 5.1 5.2 5.1 5.2 9,900 50,500 MABUHAY VINYL PRYCE CORP 5.5 5.54 5.54 5.54 5.5 5.5 370,000 2,035,082 GREENERGY 4 4.01 3.88 4.01 3.8 4.01 36,609,000 142,429,850 9.9 10 9.14 10 9.12 10 3,875,700 37,421,912 INTEGRATED MICR IONICS 1.11 1.13 1.1 1.11 1.1 1.11 67,000 74,260 5.82 5.99 6 6 5.78 5.81 2,600 15,482 PANASONIC SFA SEMICON 1.33 1.34 1.35 1.35 1.33 1.34 48,000 64,040 CIRTEK HLDG 5.75 5.76 5.78 5.8 5.68 5.75 776,500 4,447,190

-8,580,819 -46,200.00 -37,577,745 -14,512,840 4,058,165 -5,948,517.50 -39,367,002 -2,111,566 4,272,990 -20,640 2,002,325 -297,014 3,603,391 3,470,005 12,580 -1,671,088 -67,627,678 31,740 -15,750 -304,520 1,906,594 52,014,393 -32,500 -54,300 29,789,746 -76,350 -38,080 -590,020 -380,910.00 -2,484,772 27,400 -24,780 43,240 454,374 -1,373,535 25,404 -296,600 54,890 20,920 22,000 5,970,780 7,232,853.00 39,900 101,114

HOLDING & FRIMS ABACORE CAPITAL 1.01 1.02 1.03 1.03 1 1.02 12,220,000 12,352,940 ASIABEST GROUP 7.18 7.35 7.2 7.35 7.15 7.35 2,700 19,515 801 802 795 805 795 801 90,290 72,316,460 AYALA CORP ABOITIZ EQUITY 39.75 39.8 39.3 40.1 39.3 39.8 1,512,700 60,332,285 ALLIANCE GLOBAL 10.26 10.28 10.26 10.5 10.2 10.26 8,663,000 88,889,310 3.26 3.28 3.1 3.29 3.07 3.28 6,656,000 21,441,800 AYALA LAND LOG ANSCOR 6.81 6.86 7 7 6.86 6.86 16,100 111,076 1.09 1.1 0.87 1.1 0.86 1.09 81,158,000 79,774,860 ANGLO PHIL HLDG ATN HLDG A 0.7 0.72 0.72 0.72 0.69 0.7 465,000 325,540 ATN HLDG B 0.71 0.74 0.7 0.7 0.7 0.7 16,000 11,200 5.19 5.22 5.2 5.22 5.15 5.19 651,000 3,377,163 COSCO CAPITAL DMCI HLDG 5.9 5.93 5.82 5.94 5.82 5.9 5,363,500 31,608,486 FILINVEST DEV 8.15 8.16 8.05 8.16 8.01 8.15 16,300 131,510 0.27 0.295 0.265 0.295 0.26 0.295 60,000 16,050 FORUM PACIFIC GT CAPITAL 598 600 590 600 584.5 600 121,050 72,312,440 3.6 3.66 3.6 3.66 3.6 3.6 202,000 727,260 HOUSE OF INV 60 61 60.4 61 59.05 61 1,251,480 75,727,069.50 JG SUMMIT LODESTAR 0.88 0.89 0.87 0.9 0.85 0.89 1,187,000 1,035,670 3.28 3.29 3.29 3.29 3.29 3.29 2,000 6,580 LOPEZ HLDG LT GROUP 13.6 13.7 13.74 13.8 13.6 13.6 776,300 10,603,528 MABUHAY HLDG 0.46 0.49 0.485 0.495 0.485 0.495 50,000 24,450 1.53 1.55 1.55 1.56 1.55 1.55 5,000 7,760 MJC INVESTMENTS METRO PAC INV 4.07 4.08 4.07 4.07 4.02 4.07 5,568,000 22,608,390 3.65 3.78 3.64 3.8 3.64 3.74 61,000 225,720 PACIFICA HLDG PRIME MEDIA 2.75 2.76 2.8 2.8 2.75 2.76 295,000 818,900 SOLID GROUP 1.18 1.2 1.2 1.2 1.2 1.2 17,000 20,400 998 1,002 1,001 1,008 992.5 1,002 322,450 323,037,540 SM INVESTMENTS SAN MIGUEL CORP 116.2 116.3 117.5 119 116.3 116.3 186,670 21,789,069 SOC RESOURCES 0.71 0.73 0.71 0.74 0.71 0.71 520,000 371,850 130 131 130 131 130 131 380 49,720 TOP FRONTIER WELLEX INDUS 0.265 0.28 0.265 0.28 0.26 0.28 180,000 47,900 0.218 0.221 0.206 0.227 0.206 0.218 1,350,000 294,130 ZEUS HLDG

-15,670 30,648,605 19,087,440.00 -28,703,448 -262,260 -79,576 10,042,940 -2,021,777 12,909,809 4,812 11,259,950 -720,000 45,453,880.50 0 -4,133,180 4,482,900 -27,800 -111,017,225 -1,432,094 31,440 43,320

PROPERTY ARTHALAND CORP 0.62 0.63 0.63 0.63 0.61 0.62 1,427,000 878,750 ANCHOR LAND 7.35 7.5 7.5 7.5 7.5 7.5 3,000 22,500 36.9 36.95 36.5 36.95 36.1 36.95 6,456,400 236,546,285 AYALA LAND ARANETA PROP 1.18 1.21 1.22 1.22 1.18 1.18 45,000 53,280 36.3 36.35 36.6 36.6 36.25 36.35 202,700 7,383,350 AREIT RT 1.44 1.46 1.45 1.45 1.43 1.44 1,204,000 1,733,590 BELLE CORP A BROWN 0.96 0.97 0.99 0.99 0.96 0.96 483,000 464,750 1 1.01 0.97 1.03 0.95 1 2,475,000 2,446,200 CITYLAND DEVT CROWN EQUITIES 0.127 0.13 0.131 0.131 0.125 0.13 3,210,000 405,140 CEBU HLDG 6.55 6.59 6.5 6.59 6.5 6.59 21,100 138,084 6.91 6.92 6.79 7 6.69 6.92 4,009,200 27,402,481 CEB LANDMASTERS CENTURY PROP 0.41 0.42 0.415 0.42 0.405 0.42 13,510,000 5,599,950 0.325 0.33 0.32 0.33 0.315 0.33 1,530,000 489,550 CYBER BAY 12.08 12.1 12.24 12.3 12.1 12.1 576,800 7,008,646 DOUBLEDRAGON DDMP RT 1.93 1.94 1.93 1.94 1.92 1.93 8,385,000 16,183,510 6.92 6.97 6.89 6.97 6.89 6.92 15,400 106,417 DM WENCESLAO EMPIRE EAST 0.27 0.275 0.27 0.275 0.27 0.275 180,000 49,450 EVER GOTESCO 0.335 0.34 0.31 0.43 0.29 0.34 845,590,000 297,390,100 1.07 1.08 1.08 1.08 1.06 1.08 4,371,000 4,674,820 FILINVEST LAND GLOBAL ESTATE 0.89 0.9 0.89 0.9 0.89 0.9 206,000 183,390 7.25 7.37 7.2 7.25 7.19 7.25 19,700 142,314 8990 HLDG PHIL INFRADEV 1.35 1.36 1.36 1.37 1.35 1.36 682,000 924,680 CITY AND LAND 1.97 1.98 2.09 2.09 1.94 1.98 6,255,000 12,570,400 3.15 3.16 3.14 3.17 3.1 3.15 19,109,000 59,935,860 MEGAWORLD MRC ALLIED 0.38 0.385 0.375 0.39 0.365 0.385 40,870,000 15,577,400 PHIL ESTATES 0.6 0.61 0.56 0.61 0.55 0.6 35,011,000 20,632,730 3.78 3.79 3.68 3.78 3.67 3.78 2,608,000 9,733,690 PRIMEX CORP ROBINSONS LAND 17.96 17.98 17.8 18 17.7 17.98 3,382,000 60,557,294 PHIL REALTY 0.242 0.248 0.248 0.248 0.241 0.248 380,000 92,010 1.48 1.5 1.49 1.5 1.48 1.5 31,000 46,080 ROCKWELL SHANG PROP 2.57 2.64 2.65 2.65 2.53 2.64 77,000 197,620 2.52 2.6 2.52 2.6 2.52 2.59 18,000 46,460 STA LUCIA LAND SM PRIME HLDG 36.7 36.8 36.65 36.85 36.4 36.8 3,201,300 117,495,005 SUNTRUST HOME 1.68 1.7 1.79 1.79 1.66 1.7 1,229,000 2,075,760 3.79 3.8 3.77 3.83 3.77 3.8 1,090,000 4,137,800 VISTA LAND SERVICES ABS CBN 11.58 11.6 11.68 11.68 11.58 11.6 33,200 385,394 GMA NETWORK 10.1 10.12 9.89 10.18 9.62 10.1 4,021,100 40,210,190 0.42 0.435 0.425 0.435 0.405 0.42 2,580,000 1,066,500 MANILA BULLETIN MLA BRDCASTING 9.79 10 10 10 10 10 8,100 81,000 GLOBE TELECOM 1,809 1,820 1,850 1,865 1,809 1,809 46,835 85,779,315 1,314 1,315 1,323 1,332 1,301 1,314 53,855 70,864,160 PLDT APOLLO GLOBAL 0.183 0.184 0.185 0.186 0.179 0.183 141,940,000 25,733,270 19.86 19.9 20.25 20.25 19.86 19.86 1,606,700 32,041,023 CONVERGE DFNN INC 4.26 4.27 4.2 4.38 4.03 4.27 1,745,000 7,272,100 DITO CME HLDG 9.72 9.73 9.9 9.94 9.7 9.73 7,280,300 71,099,641 2.16 2.24 2.2 2.26 2.18 2.18 25,000 55,160 JACKSTONES NOW CORP 2.36 2.37 2.34 2.4 2.32 2.36 2,314,000 5,468,180 TRANSPACIFIC BR 0.405 0.41 0.405 0.41 0.4 0.41 4,080,000 1,645,700 2.45 2.47 2.45 2.48 2.45 2.45 394,000 966,830 PHILWEB 2GO GROUP 8.84 8.85 8.7 8.85 8.65 8.85 89,200 778,818 3.12 3.13 3.17 3.17 3.12 3.13 588,000 1,846,970 CHELSEA CEBU AIR 47.05 47.1 47.25 47.5 47 47.1 251,800 11,912,945 INTL CONTAINER 149.5 149.9 147 150.7 146.8 149.9 2,796,920 415,309,982 17.16 17.2 17 17.16 17 17.16 7,700 131,826 LBC EXPRESS LORENZO SHIPPNG 1.08 1.13 1.07 1.14 1.07 1.13 345,000 376,250 MACROASIA 5.41 5.45 5.53 5.53 5.25 5.45 2,502,000 13,475,996 2.38 2.39 2.29 2.38 2.28 2.38 651,000 1,522,360 METROALLIANCE A PAL HLDG 6.17 6.18 6.16 6.18 6.15 6.18 154,300 952,111 1.18 1.19 1.2 1.21 1.18 1.19 185,000 222,010 HARBOR STAR ACESITE HOTEL 1.72 1.73 1.73 1.73 1.72 1.72 74,000 127,360 BOULEVARD HLDG 0.1 0.101 0.1 0.103 0.099 0.101 102,930,000 10,396,010 3.33 3.45 3.31 3.48 3.31 3.48 108,000 362,350 DISCOVERY WORLD GRAND PLAZA 12.2 16 16 16 16 16 100 1,600 WATERFRONT 0.56 0.57 0.54 0.57 0.54 0.56 3,978,000 2,217,560 6.55 6.69 6.54 6.6 6.54 6.6 20,100 132,654 CENTRO ESCOLAR FAR EASTERN U 590 640 647 647 640 647 70 45,150 7.4 7.8 7.22 7.85 7.22 7.85 600 4,458 IPEOPLE STI HLDG 0.375 0.38 0.385 0.385 0.38 0.38 1,050,000 400,000 BERJAYA 5.25 5.3 5.11 5.25 5.11 5.25 3,800 19,894 7.05 7.08 7.05 7.16 7.04 7.08 1,357,100 9,574,709 BLOOMBERRY PACIFIC ONLINE 2.06 2.1 2.06 2.06 2.06 2.06 63,000 129,780 LEISURE AND RES 1.7 1.73 1.63 1.78 1.63 1.73 2,569,000 4,411,240 1.89 1.9 1.92 1.93 1.89 1.9 1,732,000 3,292,040 PH RESORTS GRP PREMIUM LEISURE 0.415 0.42 0.42 0.42 0.415 0.42 970,000 407,300 5.8 6.2 5.8 5.8 5.8 5.8 3,000 17,400 PHIL RACING ALLHOME 7.57 7.58 7.6 7.6 7.53 7.58 3,162,200 23,900,195 METRO RETAIL 1.33 1.34 1.34 1.34 1.31 1.34 617,000 814,610 37.6 37.9 38.25 38.45 37.6 37.6 1,354,600 51,401,845 PUREGOLD ROBINSONS RTL 53.3 53.45 54 54 53.2 53.45 212,850 11,364,656 PHIL SEVEN CORP 102.6 103 102.9 103.5 102.9 103 1,200 124,040 1.3 1.31 1.29 1.3 1.27 1.3 1,005,000 1,288,810 SSI GROUP WILCON DEPOT 18.98 19 18.8 19.04 18.7 18.98 2,791,100 52,879,468 0.385 0.4 0.385 0.4 0.38 0.4 1,340,000 522,000 APC GROUP EASYCALL 6.07 6.32 6.06 6.37 6.06 6.34 12,900 79,995 IPM HLDG 5.2 5.58 5.15 5.2 5.15 5.2 10,600 54,620 1.78 1.79 1.84 1.84 1.77 1.79 16,986,000 30,478,510 PRMIERE HORIZON SBS PHIL CORP 4.11 4.3 4.17 4.25 4.17 4.25 9,000 37,640

83,529,190 757,315.00 -608,490 -1,960 -75,980 62,500 2,406,262 253,100 81,900 -310,210 102,440 -3,757,600 -170,130 -36,480 -303,050 -19,047,730 1,635,600 103,020 1,696,880 51,896,544.00 10,040 -33,434,825 572,850 -30,856,420 -15,870,685 -8,746,820 -8,713,226 -2,195,780 57,575 115,000 4,050 25,346 9,390 2,950,735 26,378,106 -2,034,651 422,581 -10,690 31,410 6,800 -132,000 129,379 471,000 19,864,177 -13,736,695 -3,320,969.50 -113,750 -260,000 33,366,000.00 -750 -5,132,920 -

MINING & OIL ATOK 9.61 9.98 10 10.02 9.6 9.98 739,100 7,309,535 -665,523 1.8 1.81 1.81 1.82 1.79 1.8 2,591,000 4,660,750 -360,000 APEX MINING ATLAS MINING 7.17 7.18 7.29 7.29 7.12 7.17 1,488,000 10,720,171 189,266 4.78 4.94 4.5 4.98 4.5 4.94 719,000 3,458,510 BENGUET A Philam Bond Fund, Inc. -a 4.486 -1.43% 4.03% 1.58% -3.21% BENGUET B 4.75 4.88 4.38 4.9 4.38 4.75 474,000 2,239,960 -131,400 COAL ASIA HLDG 0.31 0.32 0.32 0.32 0.31 0.32 130,000 40,800 1.3255 2.85% 4.32% 2.81% 0.33% Philam Managed Income Fund, Inc. -a,6 2.8 2.85 2.85 2.85 2.85 2.85 16,000 45,600 42,750 CENTURY PEAK DIZON MINES 6.6 6.7 6.74 6.74 6.7 6.7 8,300 55,628 Philequity Peso Bond Fund, Inc. -a 3.972 1.19% 4.37% 2.4% -0.73% FERRONICKEL 2.6 2.61 2.69 2.69 2.59 2.61 3,577,000 9,357,390 -253,040 0.32 0.335 0.32 0.33 0.32 0.33 1,310,000 424,000 19,200 GEOGRACE Soldivo Bond Fund, Inc. -a 1.0271 0.34% 4.08% 1.67% -1.43% LEPANTO A 0.157 0.158 0.157 0.159 0.155 0.157 20,640,000 3,242,110 0.012 0.013 0.012 0.013 0.012 0.013 18,100,000 227,500 MANILA MINING A Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2037 1.66% 5.25% 2.81% -0.07% MANILA MINING B 0.013 0.014 0.014 0.014 0.013 0.014 3,000,000 39,800 9,800 MARCVENTURES 1.26 1.28 1.3 1.3 1.26 1.28 386,000 490,750 -8,780 Sun Life Prosperity GS Fund, Inc. -a 1.7453 0.55% 4.51% 2.12% -0.55% 1.48 1.49 1.52 1.55 1.48 1.49 621,000 930,030 12,000 NIHAO Primarily invested in foreign currency securities NICKEL ASIA 5.12 5.15 5.18 5.2 5.11 5.12 3,045,700 15,652,708 -1,093,217 ORNTL PENINSULA 0.95 0.97 0.97 0.98 0.93 0.97 1,027,000 976,080 ALFM Dollar Bond Fund, Inc. -a $485.17 2.74% 3.16% 2.31% 0.27% 7.08 7.09 7.23 7.23 7 7.08 2,200,600 15,581,710 559,416 PX MINING SEMIRARA MINING 14.38 14.4 14 14.42 13.98 14.38 3,362,300 48,053,680 13,266,186 ALFM Euro Bond Fund, Inc. -a Є219.89 2.2% 1.14% 1.18% 0.32% 0.0096 0.0099 0.0093 0.0099 0.0093 0.0099 435,000,000 4,219,900 -44,700 UNITED PARAGON 17.02 17.2 17.18 17.3 16.9 17.2 85,600 1,457,256 10,212 ACE ENEXOR ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1807 -2.81% 2.04% 1.14% -7.79% ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.012 18,300,000 210,800 0.012 0.013 0.012 0.013 0.012 0.013 4,400,000 53,300 ORNTL PETROL B First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 0% 1.72% 0.95% -2.26% PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 53,900,000 617,800 12,000 PXP ENERGY 8.12 8.2 8.4 8.47 8.1 8.12 1,484,500 12,170,271 1,079,861 PAMI Global Bond Fund, Inc -b $1.0466 -1.72% 0.41% -0.74% -4.22% PREFFERED Philam Dollar Bond Fund, Inc. -a $2.4939 2.78% 5.23% 2.14% -1.64% HOUSE PREF A 101 101.5 101 101 101 101 220 22,220 Philequity Dollar Income Fund Inc. -a $0.0628941 4.28% 3.5% 2.22% 0.92% ALCO PREF B 100.7 101 101 101 101 101 28,380 2,866,380 517.5 530 517.5 517.5 517.5 517.5 10 5,175 AC PREF B2R Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.159 0.18% 3.08% 1.01% -2% CEB PREF 45.9 46 46 46 45.65 45.9 118,500 5,429,880 -541,355 CPG PREF A 103.5 104.4 103.5 104.4 103.5 104.4 300 31,095 Money Market Funds 101 101.4 101.4 101.4 101.4 101.4 49,200 4,988,880 DD PREF GLO PREF P 503.5 517.5 505 505 503 503 2,000 1,007,445 Primarily invested in Peso securities 1,005 1,010 1,000 1,002 1,000 1,002 2,665 2,666,365 GTCAP PREF A GTCAP PREF B 1,018 1,044 1,019 1,019 1,019 1,019 780 794,820 ALFM Money Market Fund, Inc. -a 130.18 1.94% 3.07% 2.52% 0.29% MWIDE PREF 100.7 100.9 101 101 100.9 100.9 7,900 797,247 100.2 100.5 100.5 100.5 100.5 100.5 16,070 1,615,035 PREF 2B MWIDE First Metro Save and Learn Money Market Fund, Inc. -a 1.0521 1.18% n.a. n.a. 0.38% PNX PREF 3B 106.5 106.9 106.9 106.9 106.9 106.9 990 105,831 PNX PREF 4 1,004 1,008 1,008 1,008 1,003 1,003 505 506,540 5,040 2.87% 2.57% 0.61% Sun Life Prosperity Money Market Fund, Inc. -a 1.3045 1.83% 1,082 1,094 1,095 1,095 1,094 1,094 245 268,260 PCOR PREF 3A SFI PREF 1.66 1.84 1.66 1.66 1.66 1.66 12,000 19,920 Primarily invested in foreign currency securities 79.95 80 80 80 79.95 80 93,800 7,499,330 800 SMC PREF 2C SMC PREF 2F 79 79.8 79.55 79.8 79.55 79.8 1,950 155,302.50 Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0572 1.27% 1.69% n.a. 0.46% SMC PREF 2I 78.4 79.5 78.5 78.55 78.5 78.5 35,000 2,747,750 Feeder Funds 76.95 77 77 77 77 77 13,000 1,001,000 SMC PREF 2J SMC PREF 2K 76.25 76.4 76 76.5 76 76.4 15,290 1,165,570 - Primarily invested in Peso securities PHIL. DEPOSITARY RECEIPTS Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2423 n.a. n.a. n.a. 9.98% ABS HLDG PDR 11 11.5 11.2 11.5 11.2 11.5 13,700 154,550 152,250 GMA HLDG PDR 9.55 9.67 9.43 9.68 9.3 9.67 218,000 2,054,603 -159,516 Primarily invested in foreign currency securities WARRANTS ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $1 6.38% n.a. n.a. 2.04% LR WARRANT 2.11 2.12 1.82 2.4 1.82 2.11 32,550,000 70,935,470 4,340,580 SMALL & MEDIUM ENTERPRISES a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). ALTUS PROP 17.32 17.5 17.4 17.5 17.1 17.5 67,000 1,166,286 254,040 ITALPINAS 2.39 2.41 2.4 2.45 2.39 2.39 312,000 748,800 12,050 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 5.3 5.4 5.3 5.79 5.3 5.4 30,900 169,966 -13,435 KEPWEALTH 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. MERRYMART 4.66 4.67 4.8 4.8 4.63 4.66 6,168,000 28,955,010 -426,930 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. EXHANGE TRADE FUNDS "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the FIRST METRO ETF 102.9 103.2 102.9 103.2 102.7 103.2 15,940 1,641,234 -163,851 newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.435

www.businessmirror.com.ph

Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, June 9, 2021 B3

Bigas Online: Going an extra mile to serve OFWs and their families in times of crisis By Roderick L. Abad

@rodrik_28

Contributor

F there’s one positive effect the ongoing Covid-19 pandemic has on Filipinos today, that would be their increasing adoption of the digital way of life. This holds true with the emergence of different online channels that cater to their everyday needs given their restricted mobility due to lockdowns imposed by the national government since March of last year to curb the rapid spread of the coronavirus nationwide. At a click of a button, online customers can now have their orders, whether food, grocery items, apparels, home appliances, and even services delivered right at their doorsteps in a short span of time. Indeed, the unprecedented global health crisis—looking at the silver lining—made the Filipinos embraced more of the e-commerce, which used to be less penetrated here as an industry. Seeing that the online selling market will soon become saturated with the mushrooming of various players, however, Dubai-based Krissy Corbito and her three business partners took the ride in a different manner. She decided to cater to overseas Filipino workers (OFWs) since they are the main providers of their families back home, with or without crisis. Being OFWs themselves, they witnessed during the lockdown in 2020 the struggle not only of every Filipino family, but also their next of kin or other relatives based abroad in ordering food and groceries for their loved ones back home and have them delivered the soonest possible. “OFWs around the world also had a hard time ordering things online for their families in the Philippines,” she told the BusinessMirror in an

e-mail interview. “There were no available online deliveries that time, even the biggest supermarkets don’t offer instant delivery. Customers need to wait at least five to seven days for them to receive their orders. And it was hard, especially during a lockdown when they need food and groceries the most.” So their personal experience inspired them to put up an e-commerce firm called the Bigas Online during the heights of the pandemic in April of last year.

Start from basic

WHEN most of the new e-commerce players offer varieties to compete with the established ones and survive the ensuing pandemic, the startup is niching with just one basic product which is the rice. “We offer bigas, and bigas will never be out of business. It is the main food of the Filipinos. It is [a] staple. It is a necessity. So whether there is pandemic or none, rice business, especially online, will always have a good opportunity,” Corbito explained. Bigas Online offers mainly local-

ly-grown dinorado, ifugao rice, red rice, brown rice, premium grade rice and sinandomeng. Jasmine Rice is the only imported variety found on its menu that are mostly outsourced from Vietnam. “We always take into consideration the pricing to be favorable to the customers,” she said when pressed on how competitive their price is as compared to other similar e-commerce sites and even brickand-mortar stores like groceries, supermarkets, and regular rice dealer shops. Shipping-wise, their marketplace, through local distribution channels, delivers the orders free of charge to any of its 35 covered areas located in Metro Manila, South Luzon, Central Luzon, and major cities in Visayas and Mindanao. Customers can pay using Paypal, credit card, debit card, bank transfers, remittance, and GCash. “We focus more on providing convenience to the customers by accepting different modes of payments online,” the cofounder said. “Shipping is fast and free, and delivery is contactless.”

User-friendly

BECAUSE convenience is among the manifold benefits of e-commerce, Bigas Online is very concise and direct to the point, thus making it easy to be used by the customers. The platform’s first page has the products already, so it would be easy for the potential buyers to choose the variety of rice that they want to order. Ordering takes only four easy steps: Choose the rice, then add to cart; provide shipping details; choose the payment mode to be used, and provide card details if using card; and finally, checkout. “We offer same day delivery. But on a regular basis, delivery takes one to two days only,” Corbito shared. According to her, there are other optional pages that they can navigate to, including rice recipes, to explore the site not just only for purchase

working hard to build a good reputation,” she said.

Testing phase

WORKING remotely in a café, Dubai-based overseas Filipino worker-turned-entrepreneur Krissy Corbito checks some of the paperworks while staying connected to Bigasan Online, an e-commerce site she founded with three other fellow OFWs at the height of the Covid-19 pandemic in April 2020. This platform caters to all Filipinos around the world who want to order rice for their families in the Philippines, especially this time of the unprecedented global health crisis when the peoples’ mobility is restricted by the lockdowns.

purposes. What separates it from other e-commerce portals is its focus on the quality of the products and services it sells. “We always make sure that we deliver the bigas right on time. And we have money-back guarantee should we fail to deliver the bigas on the time that we committed,” she added. But it does not end there. Bigas Online has also gone the extra mile to better serve the customers from a distance. “There were instances also during the lockdown that some of our OFWclients requested us to deliver cash to their families, and deliver flowers also during Mother’s Day. These things that we do beyond just selling

bigas online,” she narrated. All these, per the co-owner, are reflected on the consistent customers’ positive feedbacks on their online shop. She said: “Most of our customers are OFWs who are very thankful and happy that they can finally send bigas to their families in the Philippines without their families going out of their house.” Inspired by the good reviews on their web site, she pointed out that they will leverage on them to correct the wrong perception of the public on the e-commerce. “Some customers are still skeptical in trying out online orders. And the rampant abuse of other online sellers scamming customers. We are

MORE than a year since they entered the e-commerce field, Corbito conceded that they are still testing the waters before they operate their small web-based business full blast. “We are on a trial phase, we only have DTI [Department of Trade and Industry] registration for now and we are in the process of registering with [the] BIR [Bureau of Internal Revenue],” she said of the Bigas Online being currently registered under KC Online Shop in Bacoor, Cavite where the two of her cofounders now reside. Despite this, however, the growth potential of their start-up enterprise has been apparently strong already since the beginning. In fact during the imposition of community quarantines last year, she bared that they were able to fulfill more than 100 orders to different parts of the Philippines. “Average growth of orders during lockdown is around 170 percent to 200 percent,” the co-owner said, while citing the United States, United Arab Emirates, Australia, Canada, and the United Kingdom as the top five OFW markets they now serve. “It is like we are connecting these overseas Filipino workers to their loved ones back home by sending rice which is a basic need, especially during the lockdown time that people cannot go out of their houses,” she added. Confident of the success of their business, the cofounder is looking forward to expand to other cities in the Philippines and to offer franchises as part of their long-term plans. Once the business is already established, she added that they would include grocery items in their list of offerings. “We expect that there will be a huge increase in customers relying more on online ordering and deliveries. The growth of e-commerce businesses is inevitable,” Corbito stressed.

Council hikes loans for ‘responsible’ Mati City entrepreneurs Planning to start your By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

AVAO CITY—The eastern coastal city of Mati, Davao Oriental, has increased to P200,000 the amount that “responsible” entreprenuers could avail of from the city government. The Mati local government unit, through its city council, also retained its zero interest policy for loans originally offered when the first P12 million-stimulus fund was started. The city government has specified that only responsible businesses could avail of the loans, as it required prospective borrowers to show proof of their audited financial statement of income tax returns and their business plan to which the money would be spent. The Sangguniang Panlungsod of Mati City doubled last month the maximum loanable amount when it revised the

original City Ordinance No. 463 series of 2020 that created the Tabang Aron Tubagon Ang Krisis sa Mga Negosyanteng Responsabli (Help to Address the Crisis of Responsible Business) or Tatak MNR Program Ordinance of 2020. The current City Ordinance No. 481 series of 2021 revised last year’s offer of only P10,000 to as much as P100,000 the loanable amount to businesses which have been affected by the community quarantine. The City Information Office said the new provisions of City Ordinance No. 481 “now allow businesses with sole proprietorship, associations registered in government units and businesses registered on or before December 2020 to be qualified borrowers to avail the Tatak MNR Program.” “The Affidavit of Gross Sales is also added to the loan requirements aside from the photocopy of Audited Financial Statement and/or Income Tax Return

for both business and operator for the past one to three years. Moreover, the City Ordinance No. 481 will increase the maximum amount of loanable money from the program to P200,000,” it added. It said the loan “remains with zero percent interest and approval still depends on the business plan and capacity to pay of the operator.” As of the end of May, some 73 borrowers were granted the loan, and the city has so far released P5.2 million. The Tatak MNR still has P6.8 million remaining fund available. Interested borrowers may inquire with the Trade, Industry, Investment, Development and Promotions Office located at the City Hall. Meanwhile, the city has began offering its own “Mati’s Choice Chicken” in three stalls in Mati Public Market at P160 each. “This is a great help to the Matinians so that they could buy chicken at a cheap price amid the pandemic and they

could taste the fresh chicken produced by the Mati farmers themselves,” said City Councilor and Committee Chairman on Agriculture Eric Rabat. The supply of Mati’s Choice chicken was still limited though, with only 1,500 bags per week and limiting each customer to only two bags of chicken. The limited supply is due to the ongoing construction of the chicken dressing plant in Sudlon, the information office said. Mati’s Choice Chicken is a private sector initiative, produced by Farmers Choice Agri Trading, the office said. It added that the producers asked the city government to help them with the promotion of poultry. “The private sectors came up with this idea to help deflate the price of chicken. There is no government intervention here. Everytime you buy Mati’s Choice Chicken, you help a family of farmers,” Rabat added.

Anantaks launches web site for non-tax savvy start-ups

nantaks, a digital tax preparation and filing solution company, recently launched its online platform for a more comfortable and easier tax-filing experience. Last May, the Anantaks web site went online to help start-ups, self-employed individuals, and even Transportation Network Vehicle Service (TNVS) drivers and operators to prepare and file their taxes in a more time and cost-efficient manner. Tax filing has been a major hurdle among small business owners and individuals, and through the web site, Anantaks founder Elmo Nobleza offers to make

it easier for the clients. “The amount of work in filing taxes is tremendous,” he said while noting how his team of tax experts, accountants, and seasoned information technology professionals can help ease the load for the clients. “The synergy that these people brought to the web site can now be experienced through Anantaks by making it more convenient and more accessible to our clients.” Having a one-stop shop in tax filing like the Anantaks web site isn’t only cost and time efficient, clients are also guaranteed the same experience that they would get from dependable accounting firms.

The web site was built to help non-tax savvy business owners and individuals by creating a non-complicated, user-friendly platform which allows business owners and individuals to focus on their businesses while Anantaks takes care of their tax compliance requirements. “For a minimal monthly payment, an individual can use our web site and we will take care of the rest,” Nobleza said. “We also abide by the regulations set forth by the National Privacy Commission to ensure data privacy and security,” he added. Anantaks co-founder Philip Escudero

further added that the changing times brought upon by the Covid-19 pandemic pushed them even more to launch the web site. With mobility limited due to Covid-19 restrictions, the web site opens doors for clients who want to take care of their tax in the comforts of their own homes and businesses. It is also also the perfect platform to those businesses who do not have access to accountants due to geographical challenges. “The pandemic gave us a lot of changes, in this case including how we file our taxes,” he said.

own food biz? Let CCA Manila be of help to you

or a year now, the pandemic has changed a lot of practices, habits, and norms. This has also motivated a lot of people to start their own small businesses, with most going into the food industry. CCA Manila, the country’s top culinary school, has partnered with the University of Asia and the Pacific (UA&P), a top university offering reputable programs on entrepreneurship. The partnership aims to help individuals establish a better and more sustainable enterprise in the food industry by equipping them with the essential knowledge on entrepreneurial management with a focus on culinary arts. “With this program, students will gain learning from the best of two worlds—entrepreneurship and culinary arts. Students will have the foundational business and entrepreneurial skills, and at the same time know what’s in it for them in the culinary world and be ahead in terms of kitchen skills and product development,” says Ma. Veritas F. Luna, CCA Manila chancellor of education. The program is a Bachelor of Science in Entrepreneurial Management Major in Culinary Arts (BSEM-CA), the first of its kind in the country. Aside from kitchen skills, students will learn how to operate a food enterprise and at the same time have the character to survive the competitive field of entrepreneurship. “The key objectives of the program is to Provide, Nurture, and Guide. ‘Provide’ concepts and tools on entrepreneurial management. ‘Nurture,’ enhance, and develop the students’ entrepreneurial mindset, and ‘Guide’ toward establishing and running a profitable and sustainable food enterprise,” adds Veritas. Many food entrepreneurs or even foodie enthusiasts jump on the idea of creating their own ventures with innovative and creative twists but sometimes they fail due to lack of preparation and knowledge in terms of learning about the market. With this program, CCA Manila and UA&P—both the best in their fields—aim to cultivate students who will establish successful enterprises that would excite the market and consumers with their innovative products and timely services. For inquiries, call 09178408400. Visit http://www.ccamanila.edu.ph, facebook.com/ccamanila or e-mail: talktous@ cca-manila.edu.ph.

Banking&Finance BusinessMirror

Wednesday, June 9, 2021 • Editor: Dennis D. Estopace

Treasurer seeks ‘The Force’ on long tenors’ steady sale

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury raised P35 billion in its auction of reissued 7-year Treasury Bonds (T-bonds).

The auction was more than twice oversubscribed with total tenders hitting P83.7 billion. The tenor also fetched a slightly higher average rate of 3.685 percent compared to previous auction’s 3.678 percent. With a remaining term of 6 years and 10 months, the security is set to

mature on April 22, 2028. Its coupon rate stood at 3.625 percent. National Treasurer Rosalia V. De Leon said they are still seeing strong reception on longer tenors. “So far so good on the long [tenors]; may ‘The Force’ be with us,” De Leon said referring to the iconic phrase used in “Star Wars” movies.

The National Treasurer said they also opened the tap facility auction for an additional P7 billion T-bond offering. The tap facility auction is open to 11 government securities eligible dealers-market makers. For this month alone, the Treasury aims to borrow P215 billion from the local debt market, up by 26 percent from the P170-billion programmed monthly borrowing in April and May. The bulk of the programmed domestic borrowings for June, or P140 billion, is set to be raised through T-bonds with longer tenors while the rest of the amount is planned to be raised by auctioning off P75 billion in Treasury Bills.

City Savings Bank eyes fillip to digital platform

For this year, the national government has set a P3.03-trillion gross borrowing program, roughly the same amount it borrowed in 2020. About 80 percent of the amount is programmed to be raised through domestic sources; the remaining 20 percent from foreign sources. The national government’s total outstanding debt continued to swell to a fresh record-high of 10.991 trillion in April this year as the country resorts to more borrowings to finance its pandemic response. This was up by 2 percent from P10.77 trillion reported at the end of the year’s first quarter and it was also a 27.8 percent jump from P8.6 trillion of end-April last year.

Mutual deterrence: Good in China Sea issue?

OR their own sakes, China and the Republic of the Philippines (RP) had to come to the table recently: the 6th Bilateral Consultation initiated in 2016 by President Duterte and Chinese President Xi Jinping. It had to come to this. The pot had truly boiled. Philippine patrol boats won’t budge from the China Sea to protect our fisherfolks. Two influential Cabinet secretaries, the Senate, the president’s own party head (Senator Manny Pacquiao), most Filipinos and a disgusted influential caste of former generals and military officers were pissed at China. President Duterte turned a bit hawkish by stating the Philippines “will not move our ships in the area.” UP Professor Jay L. Batongbacal had earlier warned that the (satellite-proven) presence of over 200 Chinese vessels manned by their militia in the Julian Felipe Reef could result in a China takeover of the area similar to what happened in 1995 in the Mischief Reef and Scarborough Shoal. US State Department Spokesman Ned Price on April 8 categorically warned China that “any armed attack on the Philippines, including that in the West Philippine Sea” will trigger our obligations under the RP-US Mutual Defense Treaty. Perhaps China may be beginning to feel that its continued intransigence at sea would only strengthen the Quadrilateral Security Alliance with US allies like Japan, Australia, India and South Korea ( and even angered France and Germany) and would even challenge China’s security over the Pacific Ocean, South China

Finex free enterprise Zoilo ‘Bingo’ Dejaresco III Sea (SCS) and the Indian Ocean. It seems that while China might be aggressive in her words and posturing, she is not about to go to war, either. Down the road, the interests of China in that area of the world are quite obvious. According to The Diplomat, China’s interests in the SCS are the “3 P’s” of politics, petroleum and protein (fish). China needs the area to house its nuclear ballistic missiles submarines as a Pacific Ocean nuclear deterrence versus America. Economically, it needs “presence” to ensure that America’s allies do not block the terrain as this is where onethird of global commerce flows through. (America feels the same way vice versa) Although, China is 70-percent coaldependent for its energy sources and only about 30 percent on oil, the rapid growth of the Chinese economy and the environmental burden of coal make oil and gas crucial to the future of the Chinese economy of 1.4 billion people, even if it is seeking nuclear and renewable sources as part of the solutions. China has very little oil reserves (less than 2 percent of the world total) or a mere 25 billion barrels of proven reserves while it imports annually about 239 bil-

lion barrels (77 percent over 2015 levels), 60 percent coming from the Middle East and Russia. Now, according to the US Energy Information Journal, the SCS underwater minerals are composed of 14 billion barrels of natural gas, 33 billion barrels of oil with total reserves of 33 billion barrels. The SCS is also a fish haven, accounting for 12 percent of the global fish caught but where half of the world’s fishing vessels are located. RP accuses China of illegally fishing 240,000 kilos of fish a day in the area. China is the biggest fish-eating nation in the world with yearly consumption of 65 million tons, followed far second by Europe at only 13 million tons and the US at a very small 7 million tons. Of the 65 million tons, China produces 73 percent of it through aquaculture and 27 percent by fish capture at open seas. China’s problem, according to the One Earth publication, is that by the year 2030 China’s consumption of fish will outstrip supply, leaving China with worries about where to fish next. SCS is one big source. Worldwide, China has engaged— from Asia to Africa—the so-called “soft power” to influence nations to the fold of Beijing. This is done through financing and engineering tie-ups of highways, buildings and bridges, forging humanitarian assistance to 150 nations and sending 36 medical teams to 34 nations. It has given Covid vaccination donations (in the millions) and produced for the world 200 billion face masks, 2 billion protective suits and 800 million

face shields amid the pandemic. “Soft power,” as coined by Joseph Nye in the 1980s, means “the ability of a country to persuade others to do what it wants without force or coercion.” One way to look at it is that China at the end of the day is really a Giant Businessman who wants to outstrip the US and be the dominant economy in the world soon. Thus, one can deduce that for all of China’s moves—aggressive as they appear—such is not meant to foment a new war. Such a war will only serve to make every major nation poorer. That is not China’s dream. If that is China’s mindset, then a deterrent—political or military in the SCS—is a sound tactic to follow for America and her allies (including RP). Recall that it was this same “balance of terror” between the USA and the USSR in terms of nuclear armaments that prevented an actual war from happening; or preventing a Cold War to become a real war. Perhaps, only an equal amount of aggression among our allies can also bring China intermittently to the bargaining table where discussions of mutual interest (rather than one-sided bullying) will be a permanent agenda among themselves. And save ourselves a pointless, no-winners war.

Zoilo “Bingo” Dejaresco, a former banker, is a financial consultant, media practitioner and book author. He is a Life and Media member of Finex. His views here, however, are personal and do not necessarily reflect those of Finex and the BusinessMirror. Contact Dejaresco via dejarescobingo@yahoo.com

Duterte urged to direct BIR to revoke tax order By Butch Fernandez @butchfBM

IRING fears thousands more will be rendered jobless, Senate Minority Leader Frank M. Drilon prodded President Duterte to direct the Bureau of Internal Revenue to promptly revoke an “erroneous order” issued by the BIR imposing a 25 percent corporate income tax on private schools. Drilon deplored as “ill-conceived and ill-timed” the issuance of Revenue Regulation (RR) 5-2021, warning that “the BIR order can force private schools to permanently shut down,” leaving thousands jobless as PHL’s unemployment rate rises to 8.7 percent in April. The opposition Senator suggested that Malacañan can avert the negative impact of the “erroneous” RR 5-2021. Drilon added the regulation was found not only to be “ill-conceived and illtimed” but also “a classic case of legislation by IRR [implementing rules and regulation].” “I urge the President and the BIR to heed the call of private schools and heed the appeal of senators to recall RR 5-2021,” Drilon said. Moreover, the senator stressed that “It has no basis in CREATE and it defeats the very purpose of CREATE law,” referring to the Corporate Recovery and Tax Incentives for Enterprises Law.

In a statement, Drilon denounced the BIR order as “a classic case of legislation by IRR.” He recalled that the Corporate Recovery and Tax Incentives for Enterprises, signed into law in March, introduced reforms to the corporate income tax and incentive systems, stressing it was meant primarily to ease the burden on corporations due to the pandemic. Drilon explains “this is the reason why, for two years, the law lowers the income tax of proprietary educational institutions to only 1 percent,” noting this was “in recognition of the hardship these institutions had to suffer through, many of which have been forced to close down or whose enrollment has substantially declined, he added. The lawmaker laments that “such an erroneous and onerous interpretation of the law can jeopardize thousands of private schools in the country.” He warned that BIR Regulation 5-2021 “could potentially be the last nail in the coffin’ for some of these private schools which barely survived the effects of the pandemic.” Drilon also aired concerns reaching his office the BIR’s order could “force private educational institutions to permanently close down, leaving thousands of teachers and non-teaching staff unemployed,” Citing reports by the Department of Education, Drilon added around 750 private schools closed down in 2020 due to the pandemic, af-

fecting around 3,200 teachers. “Maawa naman po tayo sa naghihikahos na private schools sa bansa. Huwag na po nating pahirapan pa. Instead, let’s help them get back on track,” Drilon pleaded. He likewise noted reports that the Philippine unemployment rate rose to 8.7 percent in April 2021, equivalent to 4.14 million jobless Filipinos, an increase of over 700 thousand from the 3.4 million recorded last March 2021. Drilon warns that the ranks of unemployed could swell due to BIR, saying: “Baka madagdagan ang unemployed kapag [nagsara ang mga] private schools sa bansa dahil sa BIR.” [The ranks of jobless may swell when private schools in the country close due to the BIR.] The Senator suggests the BIR “should not legislate through IRR,” adding that BIR “only needs to read the legislative records and transcripts to confirm that it has gravely erred in issuing RR 5-2021.” According to Drilon, “the prevalence of this practice is lamentable for it defeats the purpose of the law crafted by the legislature and it alters the true intent of Congress.” He also called on Congress asking lawmakers to assert and step on the brakes. “We should put a stop to this kind of erroneous and misplaced interpretation of the law by executive agencies.”

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I T Y Savings Bank Inc. (CitySavings) is looking to continuously boost its digital platforms to grow amid the pandemic. The bank said on Tuesday that it is focused on addressing the need of its customers for financial services through its relevant products and digital channels. “CitySavings has always been very customer-centric and I believe that customer-centricity is essential as one digitally transforms. This is vital in realizing CitySavings’ vision to be the leading mass market bank in the Philippines,” City Savings Bank President and CEO Lorenzo T. Ocampo said. Among its recent digital programs include “Talk to Maria,” CitySavings’s official chatbot. Maria, who acts like a 24/7 sales associate, has the ability to provide information on product and service-related inquiries, bank advisories as well as ATM and branch locations. CitySavings also said it started the rollout of its own Visa Debit Card last year to allow its customers to transact online. To date, more than 75,000 of the Bank’s clients have switched

to the new Visa Debit card. All savings account holders are expected to be fully re-carded by October 2021. The Bangko Sentral ng Pilipinas (BSP) earlier said that more Filipinos continued to shift towards digital banking due largely to the movement and operational restrictions brought about by the government’s efforts to curb the spread of Covid-19 in the country. BSP data showed that financial transactions through the country’s two automated clearing houses—PESONet and InstaPay—were higher by 276 percent in volume and 127 percent in value in April, compared to the figures recorded during the same month in 2020. “The data are encouraging. These indicate the sustained adoption of digital payments in the country. The preference of consumers for safety in their financial transactions, coupled with the readiness of the BSFIs to offer digital payment choices that are safe, convenient, and affordable will continue to support the widespread use of digital payments,” BSP Governor Benjamin E. Diokno said in an earlier statement.

UNObank creator gets digital banking license

HE Bangko Sentral ng Pilipinas (BSP) granted a digital banking license to Singapore-based financial technology (fintech) firm DigibankASIA Pte. Ltd., creator of UNObank. This is the third entity to get regulatory approval to operate as a digital bank for this year. Earlier this week, Tonik Financial Pte. Ltd. also announced it has secured a digital bank license from the BSP, the first private neobank to do so in the country. Earlier this year, the BSP approved the digital bank license of Overseas Filipino Bank (OFBank), a wholly owned subsidiary of the state-owned Land Bank of the Philippines (Landbank). “The BSP’s vision and foresight to digitize the local banking industry is future-forward and apt, because ultimately it will help align the Philippines as a modern banking center for the region,” UNOBank co-founder Manish Bhai said. UNObank is currently being built under fintech holding company DigibankASIA.

The co-founders said they are tapping Singapore’s fintech community for the latest in innovation and technological development in their quest to create UNObank as a robust, highly secure digital banking platform that has the flexibility to create unique customised solutions for the people that the bank serves. A statement said the fintech firm is working with global technology companies that include Mambu, Backbase and AWS in building their technology stack. “Long term, our goal is to bridge the gap to financial inclusion,” Bhai said. “With UNObank, we are building the first full-spectrum digital bank to service those with unmet financial needs in Southeast and South Asia.” In 2020, the BSP issued Circular 1105 on “The Guidelines on the Establishment of Digital Banks,” providing the framework and regulatory provisions for the operation and establishment of a digital bank in the Philippines. Bianca Cuaresma

Peza to soon open credit window for ecozone locators, developers By Tyrone Jasper C. Piad @Tyronepiad

HE Philippine Economic Zone Authority (Peza) will soon be rolling out credit facilities for company locators and ecozone developers in a bid to make the country an attractive investment destination. Peza Director General Charito B. Plaza said last Tuesday that the investment promotion agency is currently working with the Bangko Sentral ng Pilipinas and foreign and local banks in setting up lending windows for the investors. “Soon, we will see in our banks a desk that will serve credit facility needs of our investors, both Filipinos and foreign,” she said during a virtual event. Plaza said such initiative will help Peza attract more investors because it boosts efficiency in terms of doing business in the country. “We also have that objective to address the efficiency factors. The Philippines is blessed with rich human and natural resources. So what do we lack? The efficiency factors,” she explained. In March, the regulator of ecozones hosted a forum where it invited several banks and financial institutions. It aimed to establish credit facilities for ecozone developers, export enterprises, suppliers, logistics, transportation hubs, utilities facilities, public works and information technology infrastructures, among others. In addition, Plaza shared that they seek to address the local supply chain. “If we are complete in our supply chain, it would

surely attract more investors to the country as it will lower the cost of the production.” This sentiment is supported by Clark Development Corp. (CDC) President and CEO Manuel R. Gaerlan, who supports the parts localization program for the electronics and semiconductor industry. “One of our programs is to invite the developers here rather than importing only the finished products,” he said. Gaerlan detailed the current situation: the minerals, such as nickel, are exported to other countries for processing and the finished product will be “reimported” in the Philippines at a higher cost. “We want to cut that ... middle-man,” he said, seeking the help of the government to invite companies to set up their facilities locally. Meanwhile, Peza announced plans to hold a forum every month to market the investment opportunities in the ecozones. Plaza said they are talking to investors abroad in a bid to secure strategic and big-ticket investments. Peza said officials will be meeting with Saudi Arabian investors this month as it aims to expand its reach in the Middle East. In the first quarter, Peza approved 57 projects amounting to P25.382 billion, which showed a 53.87-percent year-on-year growth. These investment pledges are expected to generate 5,601 job opportunities. The investment pledges cover various interests, including export projects (22), information technology (IT) projects (15), logistics (3), utilities (1) and tourism enterprise (1). The other eight are for economic zone development projects.

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www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, June 9, 2021

Stop overthinking

THE Likhang HABI Kalayaan’s Nature and Wellness category is perfect for plantitos and plantitas, along with pet parents and more.

ave you ever accidentally unmuted yourself during a meeting and said something so embarrassing that you just wanted to disappear? Or, do you remember something you did years before and said to yourself that you could have done better, and now you find yourself thinking you will not succeed in anything at all? There are days when reflecting and thinking of the past can help you with the needed motivation to push forward. But what do you do when you get stuck with destructive thoughts and confusing emotions? The first thing you need to do is to know when you are stuck in your head. Overthinking is characterized by repetitive bad memories, overly second-guessing your decisions, or going around in circles in your head without resolving anything. Being self-aware that you are unnecessarily dwelling in your thoughts is the first step to getting out of it. When you become mindful of your unproductive, circuitous thoughts, you are in a better position to arrest it before it careens out of control. When you realize you are overthinking, list what needs to be done and then prioritize those things which you can do. Focus on solutions and the steps you need to take to help you get to a resolution of the issue. Thinking is good for decision-making because it helps you uncover issues that could come up later and help you craft creative solutions to address them. It becomes unproductive when those issues stop you from deciding. When you get caught in analysis paralysis, overthinking can escalate the issue into a crisis. Keep a journal where you can list down your action plans so you are reminded to focus on what you can do. Sometimes, we regret things we should have done because we forget to do them, or we focus excessively on people and events which we cannot control. By listing down what you can do and knowing you have done them, you are assured that you have done everything you can. And even if you did not implement all the solutions you have listed, it is a reminder there will always be options for solutions later. Listening them down also quiets your thoughts into rethinking the issues repeatedly, and provides a visual motivation that you are not helpless because there are other options. Your journal will also help remind you of your past successes. Sometimes we wallow in self-destructive behavior because we forget our own value. By reminding yourself of your past accomplishments and the challenges you had to go through just so you could achieve them, you will realize that you are more capable and stronger than you used to be. This will quash negative thoughts you have of yourself and help you find the motivation to keep on moving.

Weave local toward a better normal

PHOTO BY NATHAN DUMLAO ON UNSPLASH

Be mindful of your thoughts and nip in the bud those which you know will lead you to a bad place. Mental health professionals use a technique called grounding to help people with anxiety and anger issues to find alternative points of view to help calm them down. An example is that when someone cuts you off in traffic, you can just think that the other person is in a hurry for a family emergency. I have tried this several times but just like any habit, if you do not practice it often, it will not catch on. Traffic in Metro Manila is a good training ground in finding your center. If you find yourself in the habit of falling into overthinking, do something else when it happens. The best way to replace a bad habit is to get a new one. When you know you are about to overthink, go for a quick workout, read a book, or clean your room. Focus on something productive or an activity you enjoy to get your mind off adverse thoughts and damaging behavior. To get an instant boost, help someone. Your help will make you realize there are people who need you, helping you see your value to others. And let us not forget the good feelings associated with helping others. Forgive yourself. Past events and decisions can creep up and invade your thoughts and make you feel like a victim of circumstances. In such cases, remind yourself that you cannot predict the future. You can only do so much under the circumstances, and that you acted the best way you knew how in the moment. And if you did make a mistake and overlooked

alternative solutions, remind yourself that everyone is growing and learning because nobody is perfect. Sometimes, our perfectionist side rears its ugly head and makes us feel guilty for even the simplest of mistakes. To dampen it, acknowledge that you made a mistake, learn the lesson, and use the lesson moving forward. To help you forgive yourself, you also need to look at the big picture. There are some mistakes that will not matter in a week, a month, or even years to come. So, stop dwelling on past mistakes and focus on what you can do to improve yourself. Lastly, ask for help when you feel helpless to control your thoughts. Talk to friends or a counselor about what is going on. Sometimes, it takes another person for you to be able to sort through what you are thinking and feeling, helping you understand yourself better. Saying things aloud also helps you hear yourself and make you realize how absurd your thoughts can be. If the situation becomes worse, a licensed therapist can help you develop coping techniques or even prescribe medication if needed. Overthinking is the result of fear, anxiety, and the inability to manage your thoughts and emotions. When prolonged, it can lead to other mental health issues and physiological irregularities. But when caught early on, it can help you focus on solutions and what could go right, more than your worst-case scenarios. And when your focus is overcoming the problem more than on the problem, you create a path out of the endless cycle of overthinking. n

Driven by its long-standing commitment to preserve and promote the local textile industry, HABI: The Philippine Textile Council continues to highlight Filipino artisans and craftsmanship, and inspire more people to welcome these into their styles, homes, and daily lives through the Likhang HABI Kalayaan Online Fair, which runs from June 12 to 20. To be held over at www.shophabifair.com just in time for Independence Day, HABI’s virtual mall offers a wonderful selection of hand-woven and handcrafted products from over 30 merchants representing various local weaving communities in the Philippines. These sustainable and ethical fashion and lifestyle goods are carefully curated with the intention to breathe new life into your spaces and fit right into your new normal routines. Featured items in the fair include those designed to refresh your “Home”—from laptop pillows for your home office, to décor and accents for your living and dining areas, kitchen and bedroom. For the first time ever, “Pop Culture” collectibles like ethnic instruments, komiks, toys, iconic figurines, tattoos and contemporary art will also be available. The HABI Kalayaan Fair also has a “Nature and Wellness” selection for all those plantitos and plantitas, pet parents, home fitness enthusiasts, and cyclists who had the chance to discover their new passion while on lockdown. As the fair begins just ahead of Father’s Day, it’s also curating unique and meaningful “Gift Ideas for Dad,” where you’re sure to find him the perfect present. Browse and buy must-have “Fashion & Accessories” that showcase the Filipino weavers’ most stylish works from clothes, face masks, malong, to bags, earrings and hair accents. Through this online fair, Filipinos will be able to learn more about their culture, feel the “Pinoy pride” as they get to see more of what weaving communities can offer, wear more local by looking into everyday wear with weaves, and love local by buying Filipinomade products first and foremost.

Are companies that support Pride and other social causes ‘wokewashing’? By Kim Sheehan | University of Oregon Consumers increasingly want companies to address society’s big problems, such as climate change and crumbling infrastructure. And polls suggest more than half say they want to buy from brands that take stands on social issues. At the same time, consumers are increasingly skeptical about these partnerships—such as corporate sponsorships of LGBTQ Pride Month—and instead see them as marketing stunts rather than acts of genuine activism. This is called “wokewashing.” I’m a professor of brand responsibility, and my forthcoming research investigates brands and their relationships with social issues, including the importance of both corporate allies and advocates. Allies or advocates In marketing terms, allies are members of a dominant social group that bring attention to important social issues. A company can serve as an ally when it works to increase awareness about issues affecting marginalized groups. Advocates take a more active role, working to change political, economic and social systems. Companies can be advocates when they create campaigns to promote institutional change and provide financial support for groups engaged in creating social change. Yoplait’s campaign to address patronizing attitudes toward moms is an example of corporate advocacy. Another is Stella Artois’ partnership with Water.org to end the global water crisis, which has provided clean drinking water to over 2 million people so far.

Pride Month However, corporate adventures into social issues aren’t always well-thought-out or -received. For example, consider corporate involvement in annual Pride Month celebrations. In 2019, the number of brands participating in Pride reached an all-time high. Brands including T-Mobile, Alaska Airlines and MasterCard featured supportive messages and announced donations to support the queer community. Some don’t welcome large-brand sponsorships to Pride, arguing that sponsorships take the focus away from issues of LGBTQ marginalization. These brands are not seen as authentic advocates, as they were not contributing directly to LGBTQ causes but instead portrayed as paying for exposure. These critics argue that brands don’t really care about the community, pointing to a lack of supportive messages throughout the rest of the year. There are also concerns from members of the community that brands support Pride while taking political stances that harm the LGBTQ community. For example, Equinox and SoulCycle, which have sponsored Pride, faced a consumer boycott in August 2019 after the chairman of their parent company said he was hosting a fundraiser for then-President Donald Trump, who advocates say is anti-LGBTQ. The importance of allies Some companies may use causes to pander to consumers and deserve to be called out, but my research shows that corporate allies and advocates can have an important role in society. Engagement through both allyship and advocacy

continue to be important to keep issues in the spotlight to effect significant social change. I’m finding in my research that brands’ connecting with social issues can be a win-win: Consumers

become aware of important social issues that may lack media exposure, and brands connect with likeminded consumers in a more authentic way.

THE CONVERSATION

Mandaluyong’s first outdoor dining space receives Safety Seal Shangri-La Plaza’s very own Dine Al Fresco at The Ledge Level 6 (www.facebook.com/shangrilaplazaofficial) becomes the first outdoor dining destination in Mandaluyong City to have been granted with the Safety Seal for complying with health protocols against Covid-19. The Safety Seal is part of the Covid-19 safety program of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF), with local government units as the issuing authority for malls. Establishments that have been awarded this seal means they are not only compliant with the minimum public health standards against Covid-19, but also using accredited contact-tracing apps such as Mandaluyong City’s Mandatrack and StaySafe.ph to help contain the spread of the virus. “Receiving the Safety Seal from the City of Mandaluyong as directed by the IATF demonstrates our never-ending commitment to prioritizing the safety and comfort of our mall guests,” says Joy R. Polloso, executive vice president at Shang Properties Inc. “We strive to ensure that they consistently get great experiences whenever they visit Shangri-La Plaza.” Shang has even gone beyond the public health standards by implementing its Safe Dining Made Easy protocols that include concierge or butler services and restaurant QR codes that aim to lessen interactions when ordering and dining.

B6 Wednesday, June 9, 2021

Air Intellipure provides added protection for the workplace

SM City North EDSA: First QC mall to receive Safety Seal certification

M City North EDSA was the first Mall in Quezon City to receive the “Safety Seal” certification thorough implementation and strict compliance of government-mandated Covid-19 safety and health protocols. The Safety Seal certification program is a collective effort of several government agencies namely DOLE (Department of Labor and Employment), DOH (Department of Health), DILG (Department of the Interior and Local Government), DOT (Department of Tourism) and DTI (Department of Trade and Industry) to continuously safeguard the consumers’ well-being while safely reopening and boosting the country’s economy. Safe malling in SM City North EDSA can be experienced by every mall goer in every touch point, providing heightened Covid-19 health measures to its operation. Implementation of KyusiPass and other health and safety protocols are all in placed. Meanwhile, other SM Malls in Quezon

City including SM City Fairview, SM Novaliches, SM Sta. Mesa, and Cherry Congressional also expressed their readiness for the said certification. QC Mayor Joy Belmonte, DILG Undersecretary Joseph Malaya and DTI Secretary Ramon Lopez attended the Safety Seal ceremonial awarding. In her speech Mayor Belmonte urges businesses to secure the Safety Seal certification program initiated by the national government. By signing Executive Order no. 13, s. 2021, Quezon city adopted the Joint Memorandum Circular No. 21-01 which mandated LGUs to create a Safety Seal Certification Committee that will inspect and verify eligibility of registered business establishments that wish to secure a safety seal ensuring the health and safety of the public. “There are two ways to secure the seal. Applicants may apply online. Or in the course of day-to-day monitoring, QC’s monitoring team my verify the eligibility of the inspected establishments for the issuance of the

seal,” said Belmonte. Aside from malls, establishments covered include wet markets, retail stores, restaurants and fastfoods, coffee shops and eateries, banks, pawnshops, money changers and remittance centers, car washes and laundry service centers. Also covered under the Order are art galleries, libraries, museums, and zoos; sports centers, gyms and spas; tutorial, testing and review centers; cinemas and arcades. Meanwhile, Quezon City is fast becoming a model city according to Sec. Lopez being DTI’s loyal partners in its many projects especially for the post COVID economic recovery. This made the city the featured city in the government’s campaign for ease in doing business in the Philippines. On the other hand, SM City North EDSA continues to do it share in the community. The mall has partnered with Quezon City LGU for a safe and convenient vaccination site against Covid-19.

Leechiu anticipates expansion by promoting 4 key executives

ERHAPS no disease in the history of humanity has caused so much dread, anguish and disruption than COVID-19. With no cure in sight yet, the fear of catching COVID-19 is understandable. In just over a year, the disease, caused by the SARS-CoV-2 virus, has claimed the lives of 3.3 million people worldwide. The US Centers for Disease Control and Prevention (CDC) very recently revised its guidance on the principal mode by which people are infected with SARS-Cov-2 to include, “inhalation of very fine respiratory droplets and aerosol particles.” The droplets, released by infectious people as they breathe, speak, cough, and sneeze, carry the virus and transmit infection. The CDC added, “the smallest very fine droplets, and aerosol formed when these fine droplets rapidly dry, are small enough that they can remain suspended in the air for minutes to hours.” It may take a while until COVID-19 is brought under control. In the meantime, companies are walking the tightrope between the health and safety of their employees and survival of the business. For companies where a work from home set-up is not applicable or where a percentage of their workforce need to work at the office, it has become imperative to secure the workplace and protect employees and customers from the potentially fatal virus. Recognizing the importance of clean air in mitigating the transmission of COVID-19, the Philippine Department of Labor and Employment recently released Department Order 224-21 that spells out rules for private establishments and public transport. Air Intellipure, exclusive distributor of Intellipure in the Philippines, offers a comprehensive line of Intellipure air

Villar Group launches The ViCon, first and biggest virtual property expo on June 24 and 25

VILLAR Group Chairman Manny Villar

LEECHIU‘S newly promoted key executives, from left: Mikko Barranda, Director for Commercial Leasing; Miguel Manipol, Director for Commercial Leasing; Tam Angel, Director for Investment Sales; and Alvin Magat, Director for Investment Sales

EECHIU Property Consultants (LPC), the recognized market leader in Philippine real estate services, recently announced the promotion of four key personnel in its brokerage, advisory, and consultancy business. LPC explained that the movements anticipate the industry’s recovery evidenced by milestone transactions including a record-breaking property sale negotiated by LPC in Bonifacio Global City last December and by increases in office and residential take-up in the last two quarters. Mikko Barranda and Miguel Manipol were announced as new directors for commercial leasing, while Tam Angel and Alvin Magat were named directors for investment sales. Magat joins Barranda, Manipol, and Angel as the newest member of the management committee. All four are licensed real estate brokers. Magat is a Certified Public Accountant with more than 15 years of experience in finance, accounting and taxation with specialization in the property sector and related businesses. He has sold more than 86,000 sqm. with a total value of USD173 million while representing LPC. Prior to his current

job, he was Philippine finance head and controller for one of the largest property consulting firms globally. He was also chief accountant of one of the Philippines’ largest developers. Barranda has close to 12 years advising tenants, property owners, and investors. He has helped complete deals covering close to 350,000 sqm. of office space in the past 12 years including a number of milestone lease transactions for large Philippine conglomerates and multinational companies. Barranda is also a board member of the Urban Land Institute Philippines, chair of real-estate of the Fintech Philippines Association, co-chair of the European Chamber of Commerce-Real-Estate Committee and cofounder of Acceler8 a pioneer coworking space in the country. Manipol specializes in landlord representation and has led the exclusive leasing of over 300,000 sqm. of Prime and Grade A office buildings in Metro Manila and Cebu. In his 12 years in the industry, he has also been part of landmark tenant representation deals of close to 70,000 sqm. of office space for well-known multinational firms. Manipol is a member of the German

Philippine Chamber of Commerce and the Urban Land Institute Philippines. Angel has 12 years of experience in capital markets and has helped transact circa USD 1 billion of real estate. He specializes in investment sales, deal structuring, and financial analysis. Angel holds Series 7 and 63 stock brokerage licenses under the US Financial Industry Regulatory Authority (FINRA) and is also a board member of SunAsia Energy, Inc., a pioneer developer of renewable energy. With the promotion of these multifaceted executives, LPC is expressing optimism for the Philippine real estate industry. It remains confident that the country continues to be attractive to investors, particularly Business Process Outsourcing firms. LPC also foresees that with the return of international travel, major players in international tourism will also be flocking to the country given the Philippines’ unmatched natural attractions now made more accessible through new international airports. Thus, it will remain a major global market with the return of business confidence and unhampered mobility in the country.

purification solutions for any kind of space – from small offices to expansive open floor areas – and for any type of industry. In addition to portable units, Air Intellipure offers models that can be installed in the ceiling space or retrofitted to any HVAC system. Intellipure air purifiers are already being used to improve indoor air quality and help prevent the spread of COVID-19. In the US, multinational bank JP Morgan Chase & Co has Intellipure purifiers installed in all its offices at its headquarters in New York. The New York Schools, Chicago Public Schools, and Syracuse City Schools chose Intellipure portable air purifiers because they provided the highest level of filtration with the least amount of disruption to classes. Being plug and play allowed the schools to shift the units to areas where and when they are needed the most. In the Philippines, the Belo Medical Group was among the first to invest in Intellipure purifiers, placing them in their clinics in Metro Manila as added protection for their medical team, support staff and patients. For more information: www. airintellipure.com.

HE ViCon, short for Villar Group Convention, will gather the country’s largest real estate brands in one giant virtual property conference that allows the attendee to choose from different properties from various price points across the Philippines whether it’s a dream home, solid investment, or premium commercial spaces. The virtual event will exhibit listed property giants Vista Land and Golden MV’s different brands in the real estate industry namely: Bria, Lumina, Lessandra, Camella, Crown Asia, Brittany, Camella Manors, and Vista Residences. Golden Haven, the Philippine’s largest death care property developer will also participate in this twoday event alongside commercial space developer, Vistamalls, Inc.

Chairman Manny Villar stated, “It has always been the Group’s passion to contribute in the improvement of the lives of the Filipinos by not just providing them with homes to comfortably live in or as an investment across the country but also implementing creations to make necessities within their reach. So we thought of gathering all of these brands as we reach out to almost everyone virtually through The Vicon.” The ViCon participants are sure to learn from the industry experts and will have a chance to avail of exclusive buyer’s promos and to win exciting games and prizes during the event. The event will take place on June 24 and 25. To register, please visit www.vportal.ph.

Club Ananda extends its intimate wedding promo

NTIMATE weddings are getting to be the norm nowadays since it’s an event that can create beautiful moments with your loved ones amidst the current challenges. Club Ananda, the premiere wedding destination in Metro Tagaytay, with its beautiful, spacious and accessible venues, has the best spots for your dream intimate wedding. And for all soon to wed couples, Club Ananda is happy to announce that its Intimate Wedding Promo is now available until the first quarter of 2022! For this promo, wedding couples can

enjoy a 50 percent discount on venue rentals, covering the Events Hall, Garden, and Waterpark, and all venue packages. too! Of course, all Club Ananda venue rentals come with exciting inclusions such as secured parking space, access to the Ananda kitchen, use of the 340 Kva generator, and more! For more promo details, please send a message to Club Ananda’s official accounts on Facebook and Instagram, and let’s start making your Intimate Wedding dream come true.

BusinessMirror

Editor: Tet Andolong

Wednesday, June 9, 2021 B7

Premium workspaces for the new work environment

By Rizal Raoul S. Reyes

HE onslaught of Covid-19 pandemic saw a paradigm shift on how people work.

The 9 to 5 office work routine has been replaced by ideas like flexible working, work-from-anywhere, social distancing, virtual seminars and online gatherings. As a result, people and organizations have to think of new concepts so people can be productive and efficient. Hong Kong-based The Executive Centre’s (TEC) entry into the Philippine market is timely despite the prevailing challenges in the economy. It is bullish because it offers options for the new work environment. Moreover, it has provided an add on to investors looking for premium flexible workspaces that can foster collaboration, creativity and

communication. “We see the Philippines definitely as an active growth market, something we had our eye on. What many don’t know is actually we opened our first center two years ago in RCBC Plaza through an enterprise solution, which is a tailorfit solution for our client, Cielo Philippines. Because it was such a successful move for us, it really gave us an insight on how attractive the Philippines is for multinational companies and therefore, we ventured into launching our flagship center which is in Ayala Triangle Gardens Tower 2 in Makati,” said Josh Alfafara, country manager,

Josh Alfafara, country manager, The Executive Center Philippines

The TEC Two Pacific Place 35th floor breakout area

Philippines. Established in 1994 in Hong Kong, TEC has more than 150 centers across 32 cities and 14 countries. TEC opened its first center in the Philippines on May 17 this year. Right now, Alfafara and his team are busy promoting the flagship center

to ensure they get as many people interested in their services and product offerings as well. Alfafara said 76 percent of their client portfolio is composed of multinational companies and high-net worth small, medium enterprises as well. He added some major local business orga-

nizations expressed interest to locate there. Alfafara said the main advantage of having a presence in the TEC is its location. Just like all TEC officers around the world, TEC Makati will be based in premium, grade-A buildings across the network. “It’s a landmark in core CBDs, and where multinational companies want to establish their business as well. We situate ourselves where our members

wanted to do business.” Aside from the pricey location of the building, TEC also offers a premium level of service to its members. “We listen to our members, we cater or renew the experience of that business class section of the plane. Everyone is in the same plane, right? But those in business class have a different level,” he said. As the third-largest serviced office business in Asia with annual turnover of $237 million, TEC has a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Austra lia, w it h sights to go further and grow faster. Privately owned and headquartered in Hong Kong, TEC provides first class private and shared workspaces, business concierge services, and meeting and conference facilities to suit any business’ needs.

Ayala Triangle Gardens Tower 2 awarded for excellence Edsa Busway concourses at SM Malls

YAL A Land Inc.’s (ALI) Ayala Triangle Gardens (ATG) Tower 2 Project won the High-Rise Structures Category in the first Philippines Excellence in Concrete Construction Awards held recently. As one of the country’s winning projects, ATG Tower 2 will now represent the Philippines in the 2021 American Concrete Institute (ACI) International Excellence in Concrete Construction Competition. Ayala Triangle Gardens Tower 2 is part of a mixed-use development with office, hotel, and retail amenities. Located at the northeast side of Ayala Triangle Gardens in Makati City, the contemporary building enhances the skyline of the Makati Central Business District (CBD) with its unmatched location and lifestyle features, all integrated seamlessly within the green space. ATG Tower 2 features a 40-story

office building with a typical floor plate of 2,400 sq m and a total gross floor area of 93,000 sq m. It rests on a 5-level basement parking podium and hosts a helipad at the rooftop. Its architecture reflects the Makati CBD’s bustling nature through its unique design, which integrates slope facades with green lawns, a grand public stairway, and multiple access points on different levels. “We are grateful for the recog n it ion f rom t he A mer ic a n Concrete Institute Philippines Chapter and the Philippine Constructors Association, and are one with them in ensuring the proper and best use of concrete in all our projects,” said Dan Abando, president of Makati Development Corp. He added that, in line with Ayala Land’s commitment to environmental sustainability and with its efforts toward LEED Gold Certification, green elements were made

to surround the building podium and to extend the park grounds well beyond the building line. The ATG Tower 2 project has a total concrete volume of 62,651 cubic meters. Its foundation, with a concrete

volume of 9,724 cubic meters, was continuously cast for 52 hours at a rate of 187 cubic meters per hour—making it one of the largest single concrete pours in the country. Hosted by the ACI Philippines Chapter and the Philippine Constructors Association (PCA), the first Philippines Excellence in Concrete Construction Awards recognizes projects that inspire excellence in concrete design, construction, innovation, and applications in the Philippines. The concrete construction award is the latest in a series of commendations for Ayala Land’s commercial developments. Another signature mixed-use development in Makati CBD, the Ayala North Exchange was also named the only finalist from the Philippines at the 2021 Urban Land Institute’s Asia Pacific Awards for Excellence. The iconic Ayala North Exchange is a signature mixeduse development that has strengthened Makati’s position as the premier business capital of the Philippines.

Pacifica launches Hamana Homes RCI prepares for rebound

HE coronavirus pandemic has reiterated the need for homes located in open, breathable spaces. Pacifica Homes Development Corp. (PHDC), the real-estate arm of the Century Pacific Food Inc. had taken up the challenge to provide sustainable yet affordable homes in a suburban setting. Pacifica Homes had launched its first affordable residential project—the Hamana Homes in Magalang, Pampanga. Hamana Homes is a 15-hectare residential project that has been well-planned because upon entry, commercial areas are planned together with a transport terminal to cater to the resident’s needs. The main entry road is wide enough at 16-sq-m ROW, which is wider than the usual roads at 9 to 10 meters. According to Oscar Pobre, president and CEO for PHDC, the customer’s needs had been on top at every part of the property development beginning with the generous lot sizes and livable floor areas. Targeting 1,000 homes in its first project, Hamana Homes, had taken up the Asian modern inspired house models to suit the natural climate and a sustainable living environment, with enough spaces for backyard gardens and play areas. Hamana Homes also offers generous number of open spaces which is almost 40 percent of the development. Its main amenity area covers 6,000 sq.m that will

feature a clubhouse, a swimming pool and a basketball court. Aside from these amenities, several pocket parks would be built in the residential development that would be strategically positioned within reach of residents. “Pacifica Homes is committed to the development of a new generation, affordable and superior-value [ASV] homes in the country,” Pobre added. “It is a true value for money because our project taps green technology techniques in building and construction.” He attributed this customercentric property development to the real-estate firm’s parent company, Century Pacific Group Inc. (CGPI), that adheres to a “customer-first” paradigm, which has been fueling its successful business all these years. Pacifica Homes is wholly owned subsidiary of CGPI, one of the Philippines’s largest consumer-focused companies. With an established track record in brand-building spanning more than 40 years, Century Pacific Group has developed a roster of household names which include Century Tuna, Argentina, 555, Angel, and Birch Tree. It is likewise behind family casual dining brand Shakey’s Pizza, one of the leading operators of fast casual restaurants in the Philippines. “It is CGPI’s thrust of providing “affordable quality products” and this expertise and commitment is now being applied to its real estate arm,” Pobre added.

HE Covid-19 pandemic has shuttered businesses at an unprecedented pace and scale, but a culture of innovation and resilience has allowed Roxas and Company Inc. (RCI) to weather the health crisis and inch closer toward recovery. “Covid-19 is and continues to be a human tragedy. It tested our resilience and brought out the creativity across teams,” said Edgar P. Arcos, RCI chief financial officer (CFO). To say that 2020 was a difficult year would be an understatement, Arcos said, as revenues declined by 36 percent year-on-year on the back of the pandemic and the Taal Volcano eruption that impacted on the operations on its hotels and real-estate units. But the first order of the day was to protect RCI’s people and partners, he said. “Our first learning was how to prioritize people, customers, suppliers and business partners, and shareholders in that order. Moving resources to address the urgent requirements of our employees ensured that we secured their health and wellness,” Arcos said. Stood at P1.15 billion primarily due to the lockdowns that led to the temporary closure of Anya Resort Tagaytay and Go Hotels in Manila, as well as the Roxas Sigma Agriventures Inc. (RSAI) coconut processing plant in Tupi, South Cotabato and its equity stake in RCI. Anya, however, was able to recover in the last quarter of 2020 and ended the year “strong” as guests from Metro Manila patronized its luxury rooms and food outlets, Arcos said. Go Hotels, on the other hand, made a quick pivot as quarantine facilities for returning overseas Filipino workers start-

ing in mid-April last year, with occupancy levels recovering up to 50-70 percent for the rest of 2020. While the coconut manufacturing plant was not spared from the impact of Covid-19 as social distancing and community lockdowns affected worker movement and plant manpower capacity, Arcos said the facility revisited process flows to maintain output efficiencies. RCI’s real-estate unit, on the other hand, consolidated its asset portfolio and continued to work with developers and joint venture partners to prepare for the rebound this year. Arcos said RCI also restructured some P2.6 billion of debt and availed of concessions under Bayanihan 1 and 2 to generate additional cash flows and sustain businesses during the recession and extended Covid-19 period. “We are cautiously optimistic of recovery in 2021. The imposition of further restrictions in late March to April 2021 was proof of the unpredictability of the recovery and derailed the momentum we built in the last quarter of last year and the first quarter of this year,” Arcos said. Across the group, revenues from January to March this year stood at P535 million, six times higher than the same period last year, mainly due to raw land sales and the recovery of hotel and coconut product sales. “The country’s vaccination progress will be a key enabler in the return of consumer confidence and eventually spending and investment. The pace of the transition is unclear so we’ve planned scenarios for a swift or slow recovery. We are gearing for a turn-around but are preparing contingencies for further disruptions,” Arcos said.

OMMUTERS will soon be able to enjoy a more comfortable, safe, and convenient travel experience along the country’s main thoroughfare with the construction of the Edsa Busway Concourses located at SM North Edsa, SM Megamall, and SM Mall of Asia. The mall’s concourses will complement the Department of Transportation’s (DOTr) innovative Edsa Busway initiative to provide safe and convenient access for commuters to the Edsa Busway Stations. With these concourses, SM hopes to be able to contribute to a more enjoyable, safe, and convenient commute for the Filipino public, who face challenges as they traverse the busy Edsa artery to work, study, and do their daily tasks. At each of the concourses, commuters can look forward to state-of-theart design and facilities, complete with a concierge, ticketing booths and turnstiles for the Automatic Fare Collection System which will allow transactions to take place at the concourses before the onboarding of passengers. Ramps and elevators will provide easy access for commuters, especially for persons with disability, senior citizens, and pregnant women. Inspired by traditional bamboo construction, the new Edsa footbridges aim to create a combination of beauty and function, while keeping in touch with the Filipino identity. Tubular steel frames simulate the flexibility and strength of bamboo; while the flank-

ing planting strips provide openness and greenery, serving as a buffer area between the walkways and the edges of the footbridge. All of these are covered by a gable roof resembling traditional ethnic bamboo structures. The addition of angled louvers provides further protection from the rains. Pedestrians get to walk through a bridgeway brimming with natural light and ventilation, while unencumbered by the natural elements. In addition to funding the construction of the concourses and bridgeways, SM will ensure these are properly secured and well-maintained for the safety and convenience of all passengers and pedestrians. Transportation Secretary Art Tugade together with SM Prime President Jeffrey Lim led the virtual groundbreaking ceremony to mark the beginning of construction at the three SM Malls. Joining them were partner agencies Department of Public Works and Highways Secretary Mark Villar, Metropolitan Manila Development Authority Chairman Benhur Abalos, Land Transportation Franchising and Regulatory Board Chairman Atty. Martin Delgra, and busway advocate and Green Edsa Movement Chairman Eduardo Yap who conceptualized the Edsa Busway concourses. With the Edsa Busway concourses, SM hopes to contribute to the government’s effort to improve the commuting experience of every Filipino through sustainable and inclusive urban transport reform.

Sports BusinessMirror

| Wednesday, June 9, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

GOVERNOR Matthew Manotoc opens Ilocos Norte’s doors to sports activities.

Gov. Manotoc eyes Ilocos Norte as sports tourism capital up north

LOCOS Norte is resolved in boosting its reputation not only as the sports tourism capital of the north, but the entire country as well. The province has proven itself as a safe haven for teams to train, either professional or those from the national teams, even at this time of the pandemic that more and more are now looking to travel to the region and hold their bubble practices. Philippine Basketball Association teams TnT Tropang Giga and Meralco are currently in their second bubble training in the capital city of Laoag where they hold scrimmages at the Centennial Arena, while the men and women’s beach volleyball teams also have their training camp for almost a month now at Villa Del Mar in Saud Beach in Pagudpud, which Ilocos Norte Governor Matthew Manotoc bared as the only Philippine beach to be included in the Most Beautiful Beaches in the World by Travel + Leisure. “We are located far north, but it’s very safe, and the facilities are of quality. And in a way, we capitalized on that. It would be worth their trip,” said Manotoc, making his first guest appearance in the weekly online Philippine Sportswriters Association Forum on Tuesday. The Philippine National Volleyball Federation (PNVF) is also satisfied with the beach volleyball training camp that PNVF President Ramon “Tats” Suzara plans to send the men and women’s teams for a separate training camp starting June 15 as they prepare for the 31st Southeast Asian Games. Also set to follow, according to Manotoc, son of champion golfer and multi-titled basketball coach Tommy Manotoc and Senator Imee Marcos, is the national handball team. “Hopefully, we can welcome

more. We are a safe and comfortable destination,” Manotoc told the session presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. “We want to establish Ilocos Norte as the sports tourism capital of the north. If there’s anyone interested and we have the facilities, I’m all for it. My real passion is sports,” Manotoc said. Before the pandemic, Ilocos Norte hosted other national teams as they prepared for international meets like the canoe kayak squad which trained at the Paoay Lake for the 2019 Southeast Asian Games in Manila. And during the surge of Covid-19 cases last year, sports didn’t take a hit in the province, according to Manotoc, who is a partner with Marvin Espiritu as sports agents of the Espiritu-Manotoc Basketball Management. “We hosted three stages of the Ilocos Cycling Tour during the Covid-19 pandemic. No untoward incidents happened,” said the governor, who added more than 800 cyclists participated in the event’s third edition. “I’ve been a firm supporter of resuming sports during the pandemic. For me, sports is as important as education,” Manotoc told the forum powered by Smart with Upstream Media as official webcast partner. “I have been lobbying for faceto-face classes and I also lobby for some sort of sports activities for every person, because these are what we need,” he said. Manotoc said the province could also be a training shelter for water sports such as surfing with its vast beaches and lakes as well as biking and running. He also welcomes hosting in the future of international meets like the Asian Beach Games.

By Josef Ramos

UKA SASO could no longer be that typical teenager now that she has won one of the five Majors in women’s golf—the US Women’s Open she ruled via a third playoff hole on Sunday at the Olympic Club in San Francisco, USA. The 19-year-old Saso, according to Bones Floro, remains that typically shy teenager who gets starstruck during certain occasions. “I remember during a halftime ceremony in a PBA [Philippine Basketball Association] game in 2018 when Yuka and the other Jakarta Asian Games gold medalists were recognized, she asked me very shyly if I could help her get a photograph with Vice Ganda,” Floro, secretary general of the National Golf Association of the Philippines, told BusinessMirror on Tuesday. “I readily obliged.” “And when several PBA players asked for a photo with her, she was very accommodating but still showed how shy she was,” said Floro, himself a noted junior and amateur golfer when he was young. Floro said Saso is a simple, happy and generous young lady who loves K-Pop and follows Marvel Comics characters. “She’s no prima donna despite her celebrity status as the country’s fast rising global women golfer,” Floro said. “Yuka remains the person that she is—selfless, considerate, humble and generous.” An Olympics news site bared in an interview with Saso that she likes Korean girl groups Twice and Blackpink—but not an absolute BTS fan. She also loves Sam Smith and Daniel Padilla, while her favorite films are Lucy, Transformers, The Avengers, Batman and Spiderman. “She is just an ordinary kid who loves cartoons,” Floro said. “She is a very happy and positive person, a very sweet girl.” She likes daytime Filipino shows and she is very much in touch with what she did as a child, it works for her,” he added. Floro said Saso shows concern

Tough track in Danao City for MTB trials

HE Philippine mountain bike team is literally leaving no stone unturned as it gears up for the 31st Southeast Asian Games in Hanoi, Vietnam, in November. Oscar “Boying” Rodriguez, PhilCycling’s MTB commission chairman, has built and maintained a track in Danao City that always brings out the best among local riders. Rodriguez, an MTB fanatic, has seen countless mountain bike courses in Asia and with all his resources, has tried hard to replicate them for use of Filipino riders. “This is where our national mountain bike team has trained ever since. Here in Danao, we have the most challenging track,” Rodriguez told the online Philippine Sportswriters Association Forum on Tuesday. “In the SEA Games, we always win a medal. And in Hanoi, we will try to match our haul of two golds, two silver and two bronze medals in 2019,” he said, adding that the track they built in Danao City offers the toughest uphill and the most technical downhill portions. “There’s almost no recovery. I want our riders to get used to the most challenging track,” he said.

PHILCYCLING’S MTB commission Chairman Oscar “Boying” Rodriguez is looking forward to a tight competition this weekend.

The National Mountain Bike Trials (crosscountry-Olympic and downhill) will be held in Danao City this Saturday and Sunday, and according to Rodriguez, the event will help them determine the composition of the SEA Games team. “Once selected, they resume their full train-

Caddy keys Saso’s historic win AL MENDOZA | alsol47@yahoo.com

THAT’S ALL MEN’S golf has four majors: Masters, US Open, British Open and the PGA Championship. But women’s golf now has five majors: ANA Inspiration, KPMG Women’s PGA Championship, US Women’s Open, Ricoh Women’s British Open and the Evian Masters. Which bring us to Yuka Saso, who won the 76th US Open on Monday in a dramatic ending to

one of the most nerve-wracking final-day battles in recent memory. Saso, whose Japanese father is married to a Filipina from San Ildefonso, Bulacan, rallied from six strokes down to win by one via a spectacular 10-foot curler of a birdie in sudden-death. Historic as Saso became the first Filipino, male or female, to win a major in golf. Jennifer Rosales, now retired,

YUKA SASO: A TYPICAL TEENAGER

for other people before herself. “There was this one meal, Yuka didn’t start eating until everybody else were ready to eat,” he said. “She is selfless, generous. She is always prioritizing other people.” Saso is half Japanese and half Filipino. Her dad, Masakazu, is always on her side when she plays in tournaments, while her mom, Fritzie, a native of San Ildefonso in Bulacan, stays at home in Tokyo. Saso was born in the Philippines but moved to Japan when she was four. Her dad brought her to the driving range when she was four or five and since then, didn’t lose grip of the golf club. She speaks a little Japanese, but is very fluent in Filipino.

ASSURED OF TICKETS TO TOKYO

real chance of podium finishes,” Floro said. “Medals are within their reach.” Philippine Olympic Committee President Abraham “Bambol” Tolentino believes Saso has the biggest chance of winning the country’s first Olympic gold medal. “She has a big chance in Tokyo because she’ll most likely compete against the same opponents she faced in the US Open,” Tolentino said. “Her confidence level is high, and that’s an extra advantage. It gives us additional chances to win medals or the Olympic gold medals.”

YUKA SASO loves K-Pop and Marvel movies—and she once requested a photograph with Vice Ganda. AP

ACCORDING to Bones Floro, Yuka Saso as well as Bianca Pagdanganan and Juvic Pagunsan are already assured of slots in the Tokyo Olympics. “Yuka is now No. 9 in the world and she has practically secured her ticket to Tokyo,” Floro said. Pagdanganan, Saso’s teammate when she won the individual and team gold medals in the Jakarta Asian Games, is ranked No. 41, while Pagunsan is No. 50 in the men’s side. “It’s all about formality. We’re just waiting for the June 22 deadline or the Olympic cutoff,” Floro said. “They are not announcing it yet because it’s not a deadline yet.” The top 60 golfers in the men and women divisions will qualify for the Olympics. “All three of them have a very

Bambol tells Yulo to get jabbed

HILIPPINE Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino said that all Tokyo Olympics-bound athletes, including gymnast Carlos Yulo, must be vaccinated against Covid-19. Tolentino told BusinessMirror after the POC General Assembly at the East Ocean Seafoods Restaurant in Parañaque City on Friday that Gymnastics Association of the Philippines President Cynthia Carrion-Norton was already advised of the need to inoculate Yulo. “Caloy [Yulo] and his Japanese coach, [Munehiro Kugimiya] will be vaccinated,” Tolentino said. “We cannot allow our athletes not to go to Tokyo without getting vaccinated.” “Imagine while you’re in the middle of the competition and you tested positive? You just cannot compete,” Tolentino said. Carrion-Norton earlier said that Yulo won’t get vaccinated for fear of possible side effects that could hamper his performance. But she agreed on Tolentino’s concern on Tuesday. “I changed my mind because it’s really hard to gamble, but he should be vaccinated now. We are now cooperating with Japan gymnastics official Morinari Watanabe. It’s going to be Pfizer for Caloy [Yulo],” Carrion-Norton said. Tolentino also wrote the Malaysian government on the second dose of vaccine that weightlifter Hidilyn Diaz and her trainers Julius Naranjo and Chinese coach Kaiwen Gao need to complete. Tolentino said coordination with Thailand officials are also underway for boxers Irish Magno, Nesthy Petecio and Carlo Paalam who are holding a training camp in the country. Tolentino also reaffirmed the vaccination of 870 athletes and coaches from national sports associations who are not in the Vietnam SEA Games program. Josef Ramos

ing for the SEA Games in Danao in July or August, and be in peak form for the SEA Games,” he told the forum presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. Head coach Eboy Quiñones, a gold medalist in the 2003 SEA Games also in Vietnam, is surprised with the heavy turnout of elite riders seeking slots on the men’s and women’s crosscountry, men’s and women’s downhill and team relay events for the SEA Games. “We have as many as 40 riders, including youth riders, who came all the way from Bulacan, Cavite, Las Piñas, La Union and Bicol,” said Quiñones, confident that the locals will once again deliver in Hanoi. Rodriguez told the forum powered by Smart and Upstream Media as official webcast partner, that it’s the first time that they will be able to field a full team in the women’s side in the SEA Games with fearless riders like Arianna Dormitorio, Avegail Rombaon, Nicole Quiñones, Pamela Ruiz, Melissa Jaroda and Shagne Yaoyao, who has won 14 races in Cebu since January this year. Rodriguez is also looking at forming a farm team for junior riders for future international competitions.

was the first Filipina to contend in golf’s majors. She finished fourth in the 2004 US Women’s Open after tying for fourth in the 2002 British Women’s Open. Saso’s heroics included backto-back birdies on 16 and 17 (both par 5s), and a clutch par putt on 18 to forge the playoff with Japan’s Nasa Hataoka (68 to Saso’s finishing 73). They had four-under par totals at the brutal par-71 Olympic Club in San Francisco, California. Pitifully, 54-hole leader Lexi Thompson (75), who had led Saso by five strokes after three holes, missed joining the playoff when she missed a five-footer on 18. She settled for third. It was the 15th straight appearance in the Open for Thompson, 26, debuting as a 12-year

prodigy in 2006. When interviewed, Thompson, her collapse magnified by a bogeybogey finish, could only say: “It’s hard to smile from here on.” Saso won $1 million (roughly P50 million) in only her second US Open stint after finishing tied for 13th last December 2020. She was co-sixth last April in the Lotte Championship after holding the 36-hole lead with successive 64s, ending with 71-70. Saso tied South Korean Inbee Park as the youngest Open champion at 19 years, 11 months and 17 days and earned multiple years of Ladies Professional Golf Association Tour and majors exemptions. Saso’s caddy, like Mickelson’s in the last US Men’s Open, played a key role in the Fil-Jap’s

stunning win. After incurring two double bogeys on Nos. 2 and 3, a terribly upset Saso found refuge in her caddy, Lionel Matichuk. “He is a Canadian,” said Bones Floro, the secretary general of the National Golf Association of the Philippines. “Yuka’s favorite caddy.” “My caddy calmed me down by saying there are many more holes left to play,” Saso said. “Just continue playing the process.” Saso sank a crucial playoffextending putt on the second hole of a two-hole aggregate contest, before delivering the tournament winner with that 10-foot birdie in the first sudden-death. To win the 121st US Men’s Open last month, Mickelson, seemingly losing his grip of the

lead, relied heavily on his caddy’s counsel, Tim his brother. “If you want to win this thing,” said Tim to Phil, “you need to commit to your swing.” Commit he did and Lefty went on to finally pocket his first US Open after finishing second six times. If Saso savored Mickelson’s triumph, it bore fruit. THAT’S IT Cielo Villaluna of Philippine Airlines tells me PAL’s Kiara Montelbon of Cagayan de Oro is another Filipino kid worth watching when she competes in the US Golf Teen World Championship next month in Pinehurst, North Carolina, USA. In 2019, Kiara was in the Top 7 of the tournament’s 13-year-old division. Good luck, Kiara!