BusinessMirror June 12, 2024

Double-digit growth in trade traced to base effects

DESPITE the double-digit growth in exports and imports, economists attributed the country’s latest trade performance to base effects.

On Tuesday, the Philippine Statistics Authority (PSA) said export earnings grew 26.4 percent while import receipts increased 12.6 percent in April 2024.

The export growth was the highest since May 2021 when exports grew 30.9 percent while imports were the highest since the 14.4 percent growth posted in September 2022.

“Trade data in the Philippines performed much better than what many had expected, with exports to the US, Japan, and Hong Kong leading the charge,” HSBC Asean economist Aris Dacanay told BusinessMirror

in an email.

“The double-digit growth rate is partly flattered by base effects, with exports falling 20.3 percent year-on-year back in April 2023; we can expect exports to continue being positive in the months ahead,” he added.

Widening trade gap

IN an economic brief, Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said the growth in exports was not enough to keep the trade deficit from widening in April 2024.

The data showed the balance of trade in goods (BoT-G), the difference between the value of exports and imports, amounted to $4.76 billion in April 2024.

This was the widest in five months or since the $4.77 billion recorded in November 2023.

However, Ricafort said, this was still the narrowest in two years or since March 2022 when the deficit reached $4.46 billion.

“[The trade deficit widened] amid the 26.4 percent year-onyear growth in exports [and] as the weaker peso made exports cheaper in international markets.”

[This was] faster versus than the 12.6 percent year-on-year growth in imports at $11 billion, as the weaker peso made imports more expensive,” Ricafort said.

Nonetheless, Dacanay said the country’s trade performance is expected to improve in the coming months. He noted that this can be observed in the recent Purchasing

Manager’s Index (PMI) of S&P Global Market Intelligence. S&P Global Market Intelligence said the country’s PMI score slowed to 51.9 in May from the 52.2 index score in April.

(See: https://businessmirror. com.ph/2024/06/04/phl-pmislows-in-may-factories-shedjobs/)

Dacanay said the PMI in May still showed “some form of expansion across the board.” This also indicated demand for Filipino manufactured goods from abroad.

“To boost exports further, the Philippines’ trade industry is reaching out to other trading partners in the hopes that they reduce their tariff rates for bananas, which is

ANOTHER UPGRADE FOR PHL POSSIBLE–ANALYST

By Cai U. Ordinario @caiordinario

IF the Philippines continues its growth momentum, Global Source Partners believes the country may again be primed for a credit ratings upgrade.

If this happens, Global Source Partners Country Analyst Diwa Guinigundo said the country may have a chance of securing a BBB+ rating or even an A- rating.

Fitch Ratings recently maintained the BBB credit rating of the Philippines with a stable outlook on the back of the country’s recent economic performance.

(See: https://businessmirror. com.ph/2024/06/10/gainsrisks-as-fitch-affirms-phlsratings/)

“A stable outlook puts the burden of proof [on] the Philippines that its economic performance is more consistent and more reforms are underway. If it succeeds keeping the momentum of growth and reforms, an upgrade to BBB+ or even an A- is not an impossible dream,” Guinigundo said.

Guinigundo said the latest ratings action of Fitch is signifi-

cant because while it recognized the resiliency of the Philippine economy, it also expressed its cautious optimism due to risks.

He noted that Fitch expects the country’s growth to average 5.8 percent this year despite the “anemic growth” posted in 2023 of 5.5 percent. This, Guinigundo said, was due to “fading public expenditure” after the lockdowns.

“It recognizes the economy’s resiliency despite the serious economic scarring of the pandemic a few years ago and the narrowing of the fiscal space,” Guinigundo said.

“It also means the Philippines performed well in attaining respectable economic growth, moderating inflation and mitigating some weaknesses in public finance,” he added.

Guinigundo noted that Fitch

See “Upgrade,” A

TBy Ada Pelonia @adapelonia

HE Department of Agriculture (DA) is looking at strategies to effectively disseminate information to farmers and fishers even as agricultural extension has been devolved to local government units (LGUs).

During a public hearing of the Committee on Agriculture, Food and Agrarian Reform on Tuesday, Senator Robin Padilla cited studies noting the lack of farmers’ awareness on the Rice Tariffication Law (RTL)

and insufficient aid from the government in information dissemination.

“Ang kagawaran po ng agrikultura ay palagi pong katuwang ng ating mga magsasaka ,” Agriculture Assistant Secretary and Spokesman Arnel de Mesa said, adding the department’s programs down to the farmer level through regional field offices, farmer cooperatives and associations (FCA), and the Agricultural Training Institute (ATI). However, de Mesa stressed

THE International Monetary Fund (IMF) has recognized the efforts of the Philippine government to be delisted from the grey list of the Paris-based Financial Action Task Force’s (FATF).

IMF team leader in its recently concluded mission to the Philippines Elif Arbatli Saxegaard said they were happy to see that the country had an “all-hands-ondeck approach” to getting out of the grey list.

In February 2024, the FATF decided to keep the Philippines in its grey list pending the country’s deliverables such as demonstrating that anti-money laundering and combating financing of terrorism controls are being used in casino junkets,

among others. (See: https://businessmirror.com.ph/2024/02/26/ fatf-notes-phls-progress-butkeeps-it-on-its-grey-list/)

“They [national government] are really committed and I think they are making significant progress. It’s hard for us to know what the FATF will decide, so it’s not up to us to speculate on that,” Saxegaard said. “But our hope is that the Philippines gets off the list, building on this reform process that they’ve already initiated.”

Saxegaard said a whole-ofgovernment approach, which involved several agencies and institutions working together,

See “FATF,” A

HONORING HEROES Flags adorn the Tandang Sora National Shrine on Tuesday, June 11, 2024, in Tandang Sora, Quezon City, ahead of the celebration of the 126th Philippine Independence on June 12, 2024. This symbolic gesture is a tribute to Melchora Aquino, affectionately known as “Tandang Sora,” whose remarkable contributions during the Philippine Revolution included providing vital support like food and medical aid to the Katipuneros. NONOY LACZA

Teacher Education Council must be set up now–PBED

By Cai U. Ordinario @caiordinario

TWO years after the enactment into law of the Excellence in Teacher Education Act, the Philippine Business for Education (PBEd) said the government has failed to set up the Teacher Education Council (TEC).

Based on Republic Act No. 11713, the TEC is tasked to set and mandate basic requirements for teachers’ education programs.

PBEd called on Education Secretary and Vice President Sara Duterte to set up the TEC as the education of millions of Filipino children are at stake.

the supposedly enhanced TEC had been appointed earlier.

“It has been two years since the law was signed and a year since implementing rules and regulations has been published. The enhancements proposed in the law have not been fully realized because officials have yet to be appointed to start the necessary work,” Raagas stressed.

“The roles of teachers are evolving, we must look into the coherence of teacher education programs and the quality of teacher education institutions (TEIs) if we want to strengthen their competencies,” she added.

answers immediately after their administration, along with item analyses and test statistics to the Council. These released materials are vital for policy formulation, research, and examination feedback.

“The policy is already here. Any further delay in its full enforcement is causing our learners to miss out. While we acknowledge the efforts of the administration to support our teachers, operationalizing the TEC is also a necessary step towards realizing the improvement of teacher education in the country,” Raagas said.

Upgrade. . .

Continued from A

raised a concern in terms of “fiscal slippage” given the focus on economic growth and the elections next year. He said the challenge here is partly due to high inflation and interest rates.

While Fitch commended the Bangko Sentral ng Pilipinas (BSP) efforts to keep monetary policy tight to fight inflation, it stressed there must be other ways to address inflation, according to him.

The National Economic and Development Authority (Neda) Board, chaired by the President, approved the reduction in rice tariffs to 15 percent until 2028 from 35 percent. (See: https://businessmirror.com.ph/2024/06/05/ phl-cuts-rice-tariffs-to-temper-inflation/)

are crucial in keeping the country’s rice supply affordable and accessible to Filipinos nationwide. Baliasacan said with the country’s low rice production, already 40 years old, importation has become crucial in ensuring that Filipinos have access to the food staple.

On Monday, Balisacan told reporters that importation has helped the government ensure a sufficient and affordable rice supply for Filipinos.

Balisacan said the country’s rice production woes persisted for four decades because the Philippines failed to increase agriculture investments such as those that would have gone to irrigation.

Irrigation investments require building either small or big dams that will allow farmers to grow crops all year round and not just during the rainy season.

PBEd Executive Director Justine Raagas said.  Operationalization of the TEC can also feed into the ongoing efforts of the Second Congressional Commission on Education and Research Institute for Teacher Quality in their profiling study on TEIs.

PBEd noted that the work could have begun sooner if officials of

“We cannot afford any more delay in this matter. We are dealing with a crisis and we urge the Secretary of Education, as the chairperson of the TEC, to promptly appoint an executive director and other officials for the benefit of aspiring teachers, eventually translating into improvements for our learners in basic education,”

PBEd said once the TEC is established, the educational system can see improvements in the coordination between the Professional Regulatory Commission (PRC) and TEIs.

This can include the alignment of the teacher education curriculum of CHED with the content of the Board for Licensure Examination for Professional Teachers (BLEPT).

PBEd also emphasized the law’s mandate to PRC in releasing BLEPT examination questions and

PBEd’s 2023 study revealed that over half of all TEIs in the Philippines performed below average in the annual licensure exam for teachers, based on 12-year data from the PRC and the CHED.

Additionally, the study classified that only 2 percent of these institutions are “high-performing,” or with passing rates of at least 75 percent.

The study also noted that over 81 percent of Teacher Education Centers of Excellence and 91 percent of Centers of Development were not achieving high passing rates in licensure exams.

Continued from A

was a huge undertaking and that it was commendable.

“We are happy to see that there’s a lot of sort of all-handson-deck approach in the government to really try to get the Philippines off the FATF grey list. It’s not an easy process involving many institutions, many parts of the government,” she added.

The FATF flagged the country for supposed inadequacies in the effectiveness of the targeted financial sanctions framework (TFS) for both terrorism financing and proliferation financing.

Landing on the FATF grey list does not automatically result in sanctions kicking in, but could cause prolonged procedures in some financial transactions which could affect not only Filipinos travelling abroad but also Overseas Filipino Workers (OFWs) and migrants.

This is something Philippine authorities are keen to avoid in order not to inconvenience citizens, particularly the millions of migrant workers whose remittances shore up the economy.

The BSP earlier said the main challenge in exiting from the gray list is enforcement since the country has already passed the necessary legislation, except for the amendment of the Bank Secrecy Law. Cai U. Ordinario

“To us, the challenge is to further harness non-monetary measures including stronger supply chains and lower but time-varying tariff duties on imported food commodities,” Guinigundo said. The lowering of rice tariffs is crucial, according to Socioeconomic Planning Secretary Arsenio M. Balisacan. He said high tariffs make rice imports expensive.

Rice imports, Balisacan said,

Growth.

Continued from A

the economy’s second highest agriexport,” Dacanay said.

“The government is also attracting as much FDI as possible to bring in capital and technology that can boost the country’s ability to export,” he added.

Products

BASED on the latest data, the country’s top exports were electronic products which booked $3.57 billion in earnings in April 2024, followed by Other Manufactured Goods with $331.3 million during the period.

Other Manufactured Goods, according to the Philippine Statistics Authority (PSA) included items such as rubber floating hoses, disposable blister pack syringes, and other various types of manufactured goods by exporters “not classified under the pre-determined/ identified manufactured goods.”

The list of top exports also included other mineral products which earned $287.65 million. These mineral products included, among others, Steam Coal and Nickel Ore.

PSA data also showed coconut oil was part of the country’s top exports with earnings of $192.03 million. Coconut oil is obtained from the dried flesh or copra of the coconut.

“Coconut oil is used in soaps, in cosmetic or toilet preparations, for making lubricating greases, synthetic detergents, laundering or cleaning preparations and as a

Continued from A

that following the devolution of agricultural extension to LGUs under the Local Government Code of 1991, their direct ties with agriculturists were cut off.

“Aminado po kami dahil sa Local Government Code of 1991,  naputol na yung direktang pakikipagugnayan ng  DA  dahil  devolved agency  na

Balisacan said if farmers nationwide were provided with sufficient irrigation facilities, there is a chance that they could plant two or even three times a year. More frequency in planting rice, Balisacan said, will significantly increase rice production. However, making these investments is not cheap, nor can they be completed in a short period of time.

source of fatty acids, fatty alcohols and methyl esters,” PSA said in an email to BusinessMirror.

In terms of imports, the data from PSA showed Electronic products topped the list with receipts amounting to $2.32 billion, followed by mineral fuels, lubricants and related materials, $1.66 billion. The list is also composed of iron and steel with receipts worth $571.39 million; Cereals and Cereal preparations, $485.22 million; and medicinal and pharmaceutical products, $247.3 million.

Markets

THE data showed Hong Kong was the country’s top export market in April 2024. It accounted for 16.5 percent or $1.03 billion of the country’s export earnings during the period. This was followed by the United States of America. which contributed $948.43 million or 15.3 percent; Japan, $823.27 million or 13.2 percent; People’s Republic of China, $702.02 million, 11.3 percent; and Republic of Korea, $314.59 million, 5.1 percent. In terms of imports, the country’s top import source was the People’s Republic of China, which cornered $3.15 billion or 28.7 percent of the country’s total import receipts in April 2024. Other top sources of goods in April 2024 were Indonesia with $959.21 million or 8.7 percent of total receipts; Japan, $909.54 million or 8.3 percent; Republic of Korea, $743.11 million or 6.8 percent; and USA, $726.2 million or 6.6 percent. Cai U. Ordinario

po Wala na po kaming direct na administrative supervision sa mga provincial, city and municipal agriculturists,” he said. Despite this, de Mesa said the department’s regional officers are in constant communication with farmers, particularly regarding the RTL.

“Bagamat meron pong ganitong kakulangan ay patuloy naman po yung pakikipagugnayan ng aming mga  regional field offices para mas makarating nang maayos yung mga impormasyon kagaya po ng nangyari sa RTL sa ating magsasaka,” he said.

De Mesa also noted looking into how the agricultural extension would be more “efficient” for farmers and fishermen.

“Magandang tingnan itong nangyaring karanasan sa Local Government Code kung paano mas magiging epektibo or [efficient] yung agricultural extension sa atin pong mga magsasaka at mangingisda.” Meanwhile, for Roehlano Briones, a senior research fellow at the Philippine Institute for Development Studies (PIDS), the concerned agencies should “simplify” the concepts like Most Favoured Nation (MFN) rates that could be considered “abstract.”

“Maybe it’s too much to expect that all of these complexities with respect to tarrification, imports and exports would be familiar [for farmers],” Briones said in a mix of English and Filipino.

“I think all agencies concerned should try to do better [...] yung basic concepts and what issues are at stake, siguro mas maganda we can do a better job at communicating that.”

Judge collects salary of resigned driver, gets fired, disbarred

By Joel R. San Juan @jrsanjuan1573

Prepare North Luzon defense,

By Samuel P. Medenilla @sam_medenilla

Marcos orders Army division

forces h ave d i smantled two KRCV u n i ts and one KRCV and one Kom i teng La r angan G u e ri lla-ICRC last yea r Q uiri no and N u eva V i zcaya we r e decla r ed i ns ur gency-f r ee on Octobe r 10, 2022 and Decembe r 18, 202 3 , r espect i vely, as well as ot h e r pa r ts of Isabela. Meanw hi le,

Pregnant, lactating women soon included in 4Ps LTO will no longer release seized colorum vehicles

By Samuel P. Medenilla @sam_medenilla

TJica, DOF sign loan for 5 Coast Guard multi-role ships

By Lorenz S. Marasigan

@lorenzmarasigan

& Reine Juvierre Alberto @reine_alberto

u ard fl ee t t o 17 “Th e s e Japa n -mad e m u lti-r o l e v e ss e ls w ou ld b e cr u cial f o r Co ast G u ard’s strat e gic r e sp on s e t o t en si on s at th e We st P hilippi ne Se a,” B a u tista said “Th e s e m o d e r n ass e ts hav e b een l on g e xp e ct e d This will c e rtai n ly b oo st th e m o ral s u pp o rt o f Filipi no s t o ou r fr on tli ne rs

Recto cites economic gains

FIN A N C E Se cr e tary Ralph R e ct o m e a n whil e un d e rsc o r e d th e e c ono mic b ene fits o f th e ne w ships “Th e s e v e ss e ls will h e lp u s st ee r t o wards harb o rs o f e c ono mic s e c u rity a n d pr o sp e rity f o r th e Filipi no p eo pl e ,” h e said Du ri n g th e sig n i n g c e re m on y, Japa ne s e A mbassad o r t o th e P hilippi ne s Kaz u ya E n d o re ite rate d Japa n’s co mmitm ent to s u pp o rt th e P

o v e r o f

n

G u

w e h o p e t o c on trib u t e e v en m o r e t o mai n tai n n g r u e s-bas e d o rd e r i n th e I n d o - P acific R e gi on ,” h e said I n a

e ls t o th e

d o p e rati on re adi ne ss o f th e M RRVs Jica has pr o vid e d th e P hilippi ne s with 1 2 M RRVs t o dat e un d e r “fav o rabl e t e rms” f o r th e first a n d s e c on d phas e s o f th e pr o j e ct as w e ll as vari ou s PC G ass e ts a n d capacity

b u ildi n g thr ou gh p u r e gra n t fi n a n ci n g “Th e s e v e ss e ls will dramatically en ha n c e th e PC G’s ability t o pr e v en t piracy, pr o t e ct th e en vir on m en t, c oun t e r sm u ggli n g, a n d imm e diat e ly r e sp on d t o s e arch a n d r e sc ue o p e rati on s,” R e ct o add e d S akam o t o Jica’s r e pr e s en tativ e said that apart fr o m th e hard c o mp onen t s u pp o rt, Japa n has b een s u pp o rti n g th e Co ast G u ard i n t e rms o f en ha n ci n g

th e ir k no wl e dg e a n d skills d e v e l o pm en t thr ou gh vari ou s t e ch n ical c oo p e rati on pr o grams, s u ch as l on g-sta n di n g dispatch o f Jica e xp e rts, sh o rt-t e rm trai n i n gs a n d sch o larship pr o grams P r ou dly, I w ou ld lik e t o r e it e rat e that

th e b e st mix o f hard a n d s o ft s u pp o rt is

one o f th e b e a u ti e s o f Japa n ’s Jica’s un iq ue c oo p e rati on ,” S akam o t o add e d

“G o i n g f o rward, Japa n will st e adily c on ti nue its s u pp o rt f o r th e PC G’s capacity

d e v e l o pm en t si n c e r e ly h o p e that this

pr o j e ct will f u rth e r d ee p en th e fri en dship

a n d c oo p e rativ e ti e s that Japa n a n d th e P hilippi ne s hav e b u ilt thr ou gh th e y e ars,” Japa n A mbassad o r t o th e P hilippi ne s E n d o Kaz u ya said n his r e marks

By Lorenz S. Marasigan @lorenzmarasigan

THE Land Tr anspo r tat i on Off i ce (LTO) on Tu esday adopted t h e “no r elease”

pol i cy fo r ve hi cles i mpo u nded d uri ng ant i -colo ru m ope r at i ons, as i t a i ms to st r engt h en t h e enfo r cement of laws aga i nst u nr

cles ( P UVs) ope r at i ng i llegally. T h e LTO c hi ef, Tr anspo r tat i on Ass i stant Sec r eta r y V i go r D. Mendoza II, sa i d t h at i mpo u nded colo ru m ve hi cles w i ll no longe r be r eleased even i f t h e ir owne r s pay f

r s h

r penalt i es to s h ow t h ose w

cont i nu o u

v i olate t h e

t h at t h e gove r nment i s se ri o u s abo u t end i ng t h e ir sc h emes,” Mendoza sa i d i n F i l i p i no. T h e only way t h ese i mpo u nded ve hi cles w i ll be r eleased i s t hr o u g h a co ur t o r de r, Mendoza, a lawye r added. Tr anspor t g roups h ave repor ted los i ng u p to 3 0 pe r cent of t h e ir da i ly i ncome d u e to t h e compet it i on f r om colo ru m ve hi cles. A colo ru m ve hi cle i s a p ri vate ve hi cle ope r at i ng as a fo r hir e u n i t

Teves released, not re-arrested, Topacio insists

By Joel R. San Juan @jrsanjuan1573

THE camp of former Negros Oriental congressman and designated terrorist Arnolfo

“Arnie” Teves Jr. on Tuesday insisted that the latter was actually ordered released from preventive detention after a Timor-Leste court granted their petition for habeas corpus.

In an interview with reporters via Z oom, Teves’s lead counsel, lawyer Ferdinand Topacio who is now in Timor Leste, said a collegial court composed of three members found his continued preventive detention illegal due to flaws on the part of the Philippine government in filing its request for the former solon’s extradition.

“So, there was nothing misleading about my statement. Rep. Teves was, in point of fact and law, released from detention,” he insisted.

In fact, Topacio said when Teves was released they were able to go to the chapel and say prayers and then to his residence, where he met his family members.

Contrary to the claim of the Department of Justice spokesman Jose Dominic Clavano IV that Teves was re-arrested, Tapacio explained that his client was actually placed under the custody of the court on the same day he was released to ensure his appearance in the extradition process, which started yesterday.

He said Teves is currently being held at the court’s holding area under the watch of Timor-Leste’s Polícia Nacional.

“He was not re-arrested because of crimes he allegedly committed in the Philippines,” Topacio further explained.

During the extradition hearing, Topacio said several personalities will testify as witnesses for Teves, such as former Human Rights Commissioner Wilhelm Soriano and lawyers Roberto Diokno and Salvador Panelo, to prove that he is a victim of political persecution in the country.

“We’ll testify how the Justice department railroaded this, how all the witnesses recanted, but they still pushed through with the filing of the case, a meeting where the President [Ferdinand Marcos Jr.] expressed to me that it was his personal belief that Congressman Teves

was guilty of the murder of governor Degamo even without the official investigation having been terminated,” he said.

Topacio said their camp is confident the rule of law will prevail once the extradition hearing is concluded.

DOJ leads ‘decisive action’

MEANWHILE, the DOJ in a statement praised the Timor-Leste government for its “decisive actions” in the re-arrest of Teves Jr.

“Mr. Teves, a designated terrorist and fugitive from justice, is facing grave charges, including multiple murder. This apprehension marks a pivotal moment in our relentless pursuit of justice,” the DOJ said.

“We extend our deepest gratitude to the government of Timor Leste for their unwavering cooperation. This rearrest underscores the robust partnership between our nations and our collective commitment to eradicating impunity, regardless of one’s social status or influence,” it added.

The DOJ reiterated it was able to submit all requirements ahead of time and in a manner fully compliant with Timor-Leste’s law in connection with the government’s request for his extradition.

“The Department is confident that the extradition proceedings will be successful. In addition, the former congressman may also still be deported depending on the direction taken by the Timor Leste government in coordination with the Philippines,” the DOJ pointed out.

Teves is facing trial for murder, frustrated murder and attempted murder in connection with the killing of Degamo and nine others last March 4, 2023.

The former solon along with several other individuals have also been charged in connection with several killings in Negros Oriental in 2019.

Teves was declared a fugitive from justice due to his failure to return to the country from the United States after the expiration of his travel authority on March 9, 2023.

This also led to his ouster as member of the House of Representatives.

In August 2023, Teves, his brother Pryde Henry Teves and 11 other individuals were designated by the Anti-terrorism Council as terrorists belonging to the so-called Teves Terrorist Group (TTG).

PCC conducts in-depth review of tower firms deal

By Cai U. Ordinario @caiordinario

THE Philippine Competition Commission (PCC) has begun the second phase of its review of the proposed joint venture (JV) involving independent tower companies in the country.

PCC said Phase 2 entailed a more in-depth assessment of the JV between PTCI Holdings Pte. Ltd. (PTCI), Connect Infrastructure (Philippines) Pte. Limited (CIP), and Meralco Industrial Engineering Services Corporation (MIESCOR).

“The Philippine Competition Act of 2015 empowers the PCC to scrutinize mergers and acquisitions. This ensures that such deals do not substantially lessen competition in the relevant markets and harm consumer welfare,” PCC said.

PTCI owns Phil-Tower Consortium Inc. (Phil-Tower PH), an independent tower company, through PTCI Assets Holdings Inc. (PAHI), their domestic holding company.

CIP and MIESCOR jointly control MIESCOR Infrastructure Development Corp. (MIDC), another independent tower company.

PCC said the proposed transaction will grant Pylon full ownership of both PhilTower PH and MIDC.

“In their notification to the PCC, the parties emphasized the complementary

nature of Phil-Tower PH and MIDC’s [MIESCOR Infrastructure Development Corp.] businesses,” PCC said in a statement.

“By combining their geographic footprints and diverse capabilities, the new entity would be able to offer mobile network operators a broader network coverage of towers,” it added.

PCC said the phase 2 review aims to validate the nationwide distribution of passive towers. These towers are physical structures that support equipment for wireless communication of mobile network operators that lease space thereon.

The review will also examine the monitoring processes of regulatory agencies as well as the duration and terms of the long-term contracts between independent tower companies and mobile network operators.

The PCC will assess the timeliness, sufficiency, and likelihood of entry and expansion of competitors into the market for tower leasing as well as verify whether the transaction will result in conglomerate effects.

Last May 4, the Commission directed the PCC Mergers and Acquisitions Office (MAO) to open a Phase 2 review of the transaction.

PCC said this was due to limited information to fully assess the impact on competition after the Phase 1 review.

June 12, 2024

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

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION QUALIFICATION AND SALARY RANGE

NO.ESTABLISHMENT

1 E-ZEN TOOL INC.

Lot 5, Block 5, Phase II, Tejeros Convention, Rosario, Cavite

2 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

3 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

4 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

5 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

6 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

7 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

8 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

KIM, JIHWAN Director

Brief Job Description:

In-charge of overseeing the company’s day-to-day operations. and creates operational plans and strategic goals as well as operational policies and budgets. Supervise employees to ensure that their tasks are completed

BAI, YUEBIN

Chinese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

WU, XIUMU

Chinese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

BEH SUUI

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

HOANG HAI YEN

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HOANG VAN HOA

Vietnamese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

HOANG VAN NHAM

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HUYNH, THUY TRANG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Must have proven experience as a director or similar executive role and must have strong decision-making ability

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

Able to speak, read and write Chinese language

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

Able to speak, read and write Chinese language

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

Able to speak, read and write Chinese and Malaysian language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php 30,000

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan,

Covelandia

21 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

22 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

NGUYEN THI QUYNH TRAM

Vietnamese Customer Service Representative

Brief

NGUYEN TIEN VU

Vietnamese Customer Service Representative

Brief

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite TRAN VAN TIEN

Vietnamese

Brief

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite VUONG THI

BUI VAN KHANH

Vietnamese Customer Service Representative

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

26 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

27 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

28

Brief Job Description: Manage incoming calls and customer service inquiries

DINH THI MAI

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

DINH VAN DUOC

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

DINH VAN NAM

Vietnamese

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Able

Salary

Able

Able to speak, read and write Chinese and Vietnamese language

Salary Range:

30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

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

Able

Covelandia

Able

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia

43 JZ RIGID BOX PHILIPPINES INC.

Bldg. 3-5, TDO Compound, Reliance St., Light Industry and Science Park III, San Rafael, City of Sto. Tomas, Batangas

44 JZ RIGID BOX PHILIPPINES INC.

Bldg. 3-5, TDO Compound, Reliance St., Light Industry and Science Park III, San Rafael, City of Sto. Tomas, Batangas

45 MOVIOUS CONST. AND DEV’T. INC.

4th Floor, LJK Bldg., Km 21 Ortigas Avenue Extension, San Isidro, Cainta, Rizal

46 MOVIOUS CONST. AND DEV’T. INC.

4th Floor, LJK Bldg., Km 21 Ortigas Avenue Extension, San Isidro, Cainta, Rizal

47 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

YI, CHANGLIN

Assistant Supervisor - Forming and Assembly

Brief Job Description:

Ensure achievement of targets and coordinate with the General Manager and other related functions regarding materials, supplies, equipment and other quality issues

FU, QIANG

Technician

Brief Job Description:

Undertake planned maintenance, breakdown repair, and condition monitoring activities of production and equipment

LIU, YATI

Chinese Finance Manager

Brief Job Description:

tasks and projects of the organization

LIU, GUOZHU

Chinese Financial Consultant

Brief Job Description: Responsible for analyzing a situation and providing a fresh perspective

ABDUL KARIM

Foreign Marketing

Brief Job Description: and read Mandarin and other local dialects spoken in other parts of China like Cantonese and Fukien. Must be familiar with Chinese Casino Game like Sicbo and Fantan.

48 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

49 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

ADRIAN HARTANTO

Foreign Marketing

Brief Job Description:

Plan sales and advertising campaigns, collect and analyze market research data

Must be able to communicate to read and can manage test operations, necessary technical to sustain the

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

Must be able to communicate read and interpret operating manuals and standard operating procedures

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

Must be detailoriented, knowledgeable on statistics, have strong problemsolving skills and an investigative nature

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

Chinese language

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

Computer literate at least Secondary Education, College Grad/Under Grad and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language

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

Computer literate at least Secondary Education, College Grad/Under Grad and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language

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

ALFRED HENSON Foreign Marketing

Brief Job Description:

Plan sales and advertising campaigns, collect and analyze market research data

50 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

AMELIA Foreign Marketing

Brief Job Description:

Plan sales and advertising campaigns, collect and analyze market research data

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

Computer literate at least Secondary Education, College Grad/Under Grad and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language

Salary Range:

Php 30,000 - Php 59,999

Computer literate at least Secondary Education, College Grad/Under Grad and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language

Salary Range:

Marketing

Brief Job Description:

Plan sales and advertising campaigns, collect and analyze market research data

Computer literate at least Secondary Education, College Grad/Under Grad and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language

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

ENDAH SARI

Foreign Marketing

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

and

collect and analyze market research data

Computer literate at least Secondary Education, College Grad/Under Grad and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language

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

FABIOLA INDAH NADA

53 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

Foreign Marketing

Brief Job Description: Plan sales and advertising campaigns, collect and analyze market research data

FRANKY VALEN

Foreign Marketing

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

Brief Job Description:

sales and advertising campaigns, collect and analyze market research data

IRFAN HAKIM

Foreign Marketing

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

Brief

KEVIN SAMUEL WAROUW

Foreign Marketing

6th, 7th, 9th-12th Floor, Tower 2, San Francisco, City of Biñan, Laguna

Brief Job Description:

sales and advertising campaigns, collect and analyze market research data

57

6th,

53.

54. NGUYEN KHANH TOAN Chinese Speaking Data Entry Clerk

Gathering

55. NGUYEN, LAM Y NHI Chinese Speaking Data Entry Clerk

Gathering

56. NGUYEN, VAN HA Chinese Speaking Graphic Designer Liaising

57. ZHAO, LIN Chinese Speaking Graphic Designer

Liaising with clients to determine their requirements,

58. CHEN, HUI Chinese Speaking Program Designer maintenance and revisions.

59. LEI, CHENGXIANG Chinese Speaking Program Designer maintenance and revisions.

60. LIU, NAIYUAN Chinese Speaking Program Designer maintenance and revisions.

Have

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

DYNAMIC STUDIO TECHNOLOGY INC. 5/f, 6/f, 7/f, 8/f Aseana 3 Building D., Macapagal Boulevard Corner Asean Ave., Baclaran, City Of Parañaque

61. AYE LIN Chinese Speaking Admin Associate support to the team and he/she will be assigned to the Chinese team.

62. CHEN, XIAOYAN Chinese Speaking Admin Associate support to the team and he/she will be assigned to the Chinese team.

63. HU, YIPENG Chinese Speaking Admin Associate support to the team he/she will be assigned to.

64. KWAY KYEE Chinese Speaking Admin Associate support to the team and he/she will be assigned to the Chinese team.

65. LY THOAI LAN Chinese Speaking Admin Associate support to the team and he/she will be assigned to the Chinese team.

66. NGUYEN THI HONG NGOC Chinese Speaking Admin Associate support to the team he/she will be assigned to.

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

With at least 6 months of work experience. With

Php 30,000 - Php 59,999

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

Have

Php 30,000 - Php 59,999

With at least 6 months

BusinessMirror

Php

159. FU, JUNJIE

BusinessMirror

160. WANG, PINGPING

161. WEI, MINGQING

RUNNINGMAN CORPORATION

162. SUGIANTO HOMAN and work assignment.

163. WANGBUNKONG, JITTIKAN and work assignment.

S-W TRADING CORP.

Unit 101, #393 Mindanao Ave. 6, Talipapa, Quezon City

164. WANG, SHUTUAN Mandarin Account Manager

Stay on top of accounts, making sure they receive those that are within their budget and meet their needs.

165. LIU, CHENGHUI

Indonesia language, and conducts market research to

166. WANG, DIANYANG

Indonesia language, and conducts market research to

167. WANG, KAI

Indonesia language, and conducts market research to

168. CAO, SHANFENG Mandarin Sales Specialist

responsibility.

169. HE, YUNPENG Mandarin Sales Specialist

responsibility.

170. MA, HAO one language to another.

171. DIRAR, AHMED ABDU IBRAHIM

At

Php 30,000 - Php 59,999

At least college graduate, and can speak, write and type in Mandarin and Vietnamese languages.

Php 30,000 - Php 59,999

At least college graduate, and can speak, write and type in Mandarin and Vietnamese languages.

Php 30,000 - Php 59,999

Indonesian language and Php 30,000 - Php 59,999

ZOU, YUQI

English languages.

Php 30,000 - Php 59,999

English

POLII

BusinessMirror

RUDY SUHARSHONO

JANUARD MALDINI

SEAGAL

TJONG LIE

KRISTINA

REVAN NAIBAHO

YOULANDA ALAM DIPO TAMBUNAN

DEKKI SYOPIAN

WANFANG TECHNOLOGY MANAGEMENT, INC.

CHOOYANG, NATTHAPHON PUENGNGERN, PATTARAPORN 228.

WHITERAIN DIGITAL TECHNOLOGIES INC. 229. SUKHANTHAMALA, NATTHAKIT

VO KHANH HOANG

NGUYEN THANH LUAN

PHAM THI HONG VAN

DO MANH THANG

THONGTHUEK, PANNATAT

NGUYEN DO NHAT THANG

NGUYEN HUY DUY

WIKITECH SERVICES INC.

WU, YUFAN

YOSHINOYA JOLLIBEE FOODS, INC. (YOSHINOYA)

KUBO, NOBUAKI

YUVENSIUS NICOLAUS

PHL needs 180K trained, validated cyber security experts to protect critical info infra

By Rizal Raoul S. Reyes

THE Philippines needs 180,000 trained and validated cybersecurity professionals to proactively and effectively protect the country’s criticali information Infrastructure (CII), according to the Philippine Computer Emergency Response Team (PH-CERT) and the National Association of Data Protection Officers of the Philippines.

Lito Averia, president of PHCERT, said that the two groups will also need the same number of Data Privacy and Governance, Risk and Compliance (GRC) trained and validated professionals.

DTI, Bosch to build experiential learning lab

By Cai U. Ordinario @caiordinario

THE national government and global manufacturing leader Bosch will be building a 4.0 Pilot Factory in the Philippines to harness cutting-edge technologies and sustainable practices.

The Department of Trade and Industry (DTI) recently signed a memorandum of understanding (MOU) with Bosch to establish the state-of-the-art facility.

The 4.0 Pilot Factory will simulate realworld manufacturing environments and integrating topics such as the Internet of Things (IoT), Artificial Intelligence (AI), and digital manufacturing in the country.

“Our partnership with Bosch represents our pivotal collaborations with both local and international partners and technology providers to build a robust Industry 4.0 ecosystem in the country,” Trade Secretary Alfredo E. Pascual said in a statement.

“As we unveil the first state-of-the-art Industry 4.0 Pilot Factory in the Philippines, this factory will be will serve as an experiential learning laboratory, equipped with automation technologies powered by Bosch and other technology partners,” he added.

The agreement between DTI and Bosch represented a landmark collaboration aimed at building a robust Industry 4.0 ecosystem in the Philippines.

With extensive expertise in various industrial sectors, DTI said Bosch will provide a comprehensive range of products and services, including automation technologies, industrial hydraulics, electric drives, linear motion technology, assembly systems, and IoT solutions.

“We are proud to collaborate with the DTI and together enhance the competitiveness of the manufacturing sector in the Philippines. Through this partnership, we will help strengthen the Philippines’industrial capabilities and readiness for advanced technologies, while promoting sustainable economic growth and resilience in a rapidly evolving industry,” Bosch Southeast Asia Regional President Vijay Ratnaparkhe said.

Pascual said the DTI has plans for the establishment of the country’s Center for Artificial Intelligence Research (CAIR) this year, along with plans to build the National Innovation Gateway.

These programs will provide a comprehensive ecosystem and innovation infrastructure, aimed at fostering collaboration, driving innovation, and catalyzing growth through the convergence of industry, academia, startups, and government.

The signing marked the DTI’s formal partnership w ith Bosch in pursuing science, technology, and innovation (STI)driven industrialization.

Among the key pillars of DTI’s STI approach include the widespread adoption of Industry 4.0 technologies and the continuous upskilling and reskilling of the Filipino workforce.

Since government is always resource-challenged, Averia said stronger and collaborative publicprivate partnerships are needed to create responsive and proactive initiatives that will protect citizens and CII from global and local cyber threats in the Asia region.

From a regional perspective, Averia said Asia also needs a stronger push against cyber crimes as threat actors are getting stronger and more sophisticated. “A harmonious whole-of-Asia and whole-of-society approach to fight cyber threats in the region has to be orchestrated among government and private sector leaders in Asean and Japan, along with other countries in the region,” Averia said.

“Asian countries face the same threats, and all countries attending confirmed that their respective government’s digital infrastructure along with Critical Information Infrastructure [CII] are also being attacked constantly by international and even local threat actors,” Averia added.

Sam Jacoba, founding President of the National Association of Data Protection Officers of the Philippines (Nadpop) and PHCERT Vice President, said the continuing increase in cyber attacks on government digital ecosystems and CIIs is a call for nations in the Asia region to establish concrete solutions such as an Information Exchange Network,

to serve as a cyber weather station that receives, verifies, then sends out threat alerts to everyone that will impacted in the region.

“In parallel, each country should continue to produce new cybersecurity professionals and to upskill current cybersecurity and information security personnel that are already working in government and private organizations,” Jacoba further said.

Averia and Jacoba said joint initiatives between the government and private sector will be ro lling out soon as the main output of these quarterly regional meetings. These initiatives can address the main gaps

Visitors to historic walled city hit 3.6M; FL opens Intramuros Tourism Center

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

MORE visitors are trooping to the historical city of Intramuros this year, exceeding its total 3.3-million headcount in prepandemic 2019.

Data provided by the Intramuros Administration (IA) showed arrivals in the walled city reached some 3.6 million from January to June 6 this year. This was also higher than the 3-million target the IA set for 2024.

Total arrivals in 2023 reached some 4.3 million, the bulk of which, or about 1.06 million, visited Fort Santiago, which includes a shrine to national hero Jose Rizal. Intramuros was the seat of government of the Spanish colonialists in the Philippines.

This developed as First Lady Louise Araneta-Marcos on Sunday inaugurated the Intramuros Tourist Center (Centro de Turismo), heralded by the Department of Tourism (DOT) as her latest cultural tourism initiative. “The Intramuros Tourist Center symbolizes our gateway to the past. It’s a celebration of our rich history and a testament to our collective identity,” she said in her speech. “Intramuros, with its storied walls and timeless streets, has always been a symbol of our resilience as a peo ple. This center will add a new chapter to our legacy. It will house invaluable artifacts, tell the stories of our ancestors, and it also gives us a good reason to stroll

through these historical photos without having to pretend we are lost tourists,” she added.

Intramuros treasures uninsured

THE Intramuros Tourism Center was funded by the Office of the President “in coordination with the DOT and other government agencies,” according to a news statement from the tourism agency. However, the DOT failed to disclose how much funds were actually used to construct the new tourist center.

An attached agency of the DOT, the IA was allocated a budget of P123.03 million this year, a 34-percent increase from its P91.73-million allocation in 2023. This year’s budget was also much higher than the P73.03 million originally allocated by the Department of Budget and Management (DBM) for the agency under the National Expenditure Program.

The 2024 budget, however, failed to include any funds to insure the historical artifacts and antiques in IA’s possession. This was confirmed in a Viber message with IA administrator lawyer Joan Padilla, “No pa po,” when asked if DBM is helping to insure their precious possessions. Many of these artifacts sit at the Museo de Intramuros, right beside the Intramuros Tourist Center.

The Commission on Audit (COA) has repeatedly pointed out the need to insure IA’s collection of artifacts and antiques. In its 2022 report, “The [audit team] also noted that Works of Art or high-value antique items in custody of IA amounting to P36.16

million were not covered by insurance policies.” (See, “COA cites anew lack of insurance for Intramuros artworks, antiques,” in the BusinessMirror, June 16, 2022.)

Adaptive reuse COA again raised the same issue in its 2023 audit report of IA, although it put the antiques and works of art under a general category of “movable properties such as but not limited to desktops, laptops, painters, and other portable/office equipment located at the 5th floor of the Palacio del Gobernador Building, Museo de Intramuros, and Plaza San Luis Complex.”

The Intramuros Tourist Center, an adaptive reuse project completed in 2013, sits on the former site of San Ignacio Church, destroyed during the Battle of Manila in 1945. According to the DOT, the centerpiece of the Intramuros Tourist Center is an immersive museum, which will take visitors on a historical cultural journey.

The Museo de Intramuros houses the ecclesiastical collection of the IA, many of which were excavated from the ruins of San Ignacio Church. In addition to a historical narrative of the walled city, the museum features archaeological finds, providing “tangible connections to the past, giving visitors a deeper understanding of the Walled City’s archaeological significance. The museum’s exhibits are further enriched by items from the extensive collection of the [IA],” the DOT added.

in the GCI Cybersecurity Pillars for each country and the whole region as well.

“When government and private sector organizations work handin-hand to fight cyber threats, citizens will benefit the most,” Averia stressed. “We already see the positive dynamics and impact of this cybersecurity community in the region.”

“What is emerging through these meetings is a regional force for good that will serve as a shield for countries and citizens against threat actors, who are now using AI in their attacks,” Jacoba added.

“We are inviting all active Communities of Practice in the region to collaborate with our regional community, the AJCCA, as threat actors are also organized in their actions. During these times, we truly need a wholeof-region, whole-of-society, and even whole-of-community cooperation to effectively respond to cyber threats.”

Nadpop and the PH-CERT recently attended the AseanJapan Cybersecurity Technical Working Group joint meeting held in Cambodia, where leaders of Philippine Cybersecurity and Data Protection Communities of Practice attended and discussed urgency for all government and private sector organizations to work in harmony together to fight against cyber threats in the Asia region.

Nasugbu town exec says RCI has unpaid taxes, will release report next week

By VG Cabuag

NASUGBU Vice Mayor Mildred Sanchez on Tuesday said listed Roxas and Co. Inc. (RCI) has fallen behind on its property tax payments in Batangas.

Sanchez said the local government’s treasury office will release its report on the firm’s tax payments by next week.

“We have already contacted our treasury office and found out that they are tax delinquent. We have requested the treasury office to prepare the necessary documents,” Sanchez said, without giving further details.

Sanchez made these remarks following RCI’s refusal to provide compensation to some 50,000 Batangas farmers and other individuals who will be affected by its real estate development across its three haciendas.

“They haven’t paid anyone. As far as I know, none of us have received any payment from them,” she said.

Meanwhile, SP New Energy Corp. announced its board has accepted the resignation of Pedro Emilio Roxas as its independent director.

SPNEC said Roxas cited “personal reasons” for relinquishing his seat on the board of the energy firm, which shifted control to Manuel V. Pangilinan’s group from the group of Solar Philippines founder Leandro Leviste.

Roxas is chairman of RCI and an independent director of Manila Electric Co. He joined the board of SPNEC in late December, along with Pangilinan and Amanda Roselle Bengson.

In its disclosure to the Philippine Stock Exchange (PSE) earlier this week, RCI said that while it has a duty to ensure that

affected individuals are vacated peacefully in its landholdings, the company has “no other financial obligations to the latter.”

Last week, some 1,000 residents of Batangas gathered at Makati’s Freedom Park to protest the plan of RCI to evict some 50,000 individuals from Haciendas Palico, Banilad and Kaylaway, covering up to 2,941 hectares in nine barangays.

Batangas farmers have been protesting a Department of Agrarian Reform (DAR) order concerning over 2,941 hectares of RCI’s three haciendas, as they called for a more equitable distribution of the land and more compensation for the agrarian reform beneficiaries (ARBs) as well as the informal settlers who will be displaced.

The PSE sought the clarification after months of protests from farmers. Any plans of RCI are considered material information as it would affect the future of the company.

RCI, in its disclosure, said there are “no actions planned on the properties and affected parties until our company receives further instructions from the DAR.”

This means that any of the alleged 50,000 individuals who are informal settlers and not on the decades-old list of a little over 1,200 ARBs would be evicted from their homes with no compensation.

The World UN approves cease-fire plan for Gaza, putting pressure on Israel and Hamas

By Edith M. Lederer The Associated Press

UNITED NATIONS—The UN. Security Council on Monday overwhelmingly approved its first resolution endorsing a cease-fire plan aimed at ending the eight-month war between Israel and Hamas in Gaza.

The US-sponsored resolution welcomes a cease-fire proposal announced by President Joe Biden that the United States says Israel has accepted. It calls on the militant Palestinian group Hamas to accept the three-phase plan.

The resolution—which was approved with 14 of the 15 Security Council members voting in favor and Russia abstaining—calls on Israel and Hamas “to fully implement its terms without delay and without condition.”

Whether Israel and Hamas agree to go forward with the plan remains in question, but the resolution’s strong support in the UN.’s most powerful body puts added pressure on both parties to approve the proposal.

US Secretary of State Antony Blinken was in Israel on Monday, where he urged Prime Minister Benjamin Netanyahu to accept the plan for postwar Gaza as he pushed for more international pressure on Hamas to agree to the cease-fire proposal. Netanyahu has been skeptical of the deal, saying that Israel is still committed to destroying Hamas.

Hamas said it welcomed the adoption of the resolution and was ready to work with mediators in indirect negotiations with Israel to implement it. The statement was among the strongest from Hamas to date, but it stressed the group would continue its struggle against Israeli occupation and work on setting up a “fully sovereign” Palestinian state.

A senior Israeli diplomat did not directly mention the resolution, telling the council Israel’s position is unwavering : “We will continue until all of the hostages are returned and until Hamas’ military and governing capabilities are dismantled.”

“This also means that Israel will not engage in meaningless and endless negotiations, which can be exploited by Hamas as a means to stall for time,” Minister Counsellor Reut Shapir Ben Naftaly said.

US Ambassador Linda ThomasGreenfield reiterated, however, that Israel has accepted the ceasefire deal, which is supported by countries around the world.

The resolution’s adoption, she said, “sent a clear message to Hamas to accept the cease-fire deal on the table.”

“The fighting could stop today, if Hamas would do the same,” Thomas-Greenfield told the council. “I repeat, this fighting could stop today.”

US deputy ambassador Robert Wood told reporters earlier on Monday that the United States sees the deal as “the best, most realistic opportunity to bring at least a temporary halt to this war.”

Earlier Monday, Hamas and Palestinian Islamic Jihad leaders met in Qatar to discuss the proposed cease-fire deal and said later that any deal must lead to a permanent cease-fire, a full Israeli withdrawal from Gaza, reconstruction and “a serious exchange deal” between hostages in Gaza and Palestinians held in Israeli jails.

Russia’s UN. Ambassador Vassily Nebenzia said Moscow abstained because details of the

three-phase plan haven’t been disclosed and “we have a whole host of questions.”

“Hamas is called upon to accept this so-called deal, but still there is no clear clarity regarding official agreement from Israel,” Nebenzia said. “Given the many statements from Israel on the extension of the war until Hamas is completely defeated ... what specifically has Israel agreed to?”

Algeria’s UN. Ambassador Amar Bendjama, the Arab representative on the council, said that while the text isn’t perfect, “it offers a glimmer of hope to the Palestinians, as the alternative is (the) continuing killing and suffering of the Palestinian people.”

“We voted for this text to give diplomacy a chance to reach an agreement that will end the aggression against the Palestinian people that has lasted far too long,” Bendjama said.

The war was sparked by Hamas’ surprise October 7 attack in southern Israel in which militants killed about 1,200 people, mainly Israeli civilians, and took about 250 others hostage. About 120 hostages remain, with 43 pronounced dead.

Israel’s military offensive has killed more than 36,700 Palestinians and wounded more than 83,000 others, according to the Gaza Health Ministry. It has also destroyed about 80 percent of Gaza’s buildings, according to the UN.

GENEVA—The number of internally displaced people in Sudan has reached more than 10 million as war drives about a quarter of the population from their homes, the UN migration agency told The Associated Press on Monday.

More than 2 million other people have been driven abroad, mostly to neighboring Chad, South Sudan and Egypt, International Organization for Migration spokesman Mohammedali Abunajela said. The IOM said the internally displaced include 2.8 million who fled their homes before the current war began.

“Imagine a city the size of London being displaced. That’s what it’s like, but it’s happening with the constant threat of crossfire, with famine, disease and brutal ethnic and gender-based violence,” IOM Director-General Amy Pope said in a statement.

Sudan’s latest conflict began in April last year when soaring

The Security Council adopted a resolution on March 25 demanding a humanitarian cease-fire in Gaza during the Muslim holy month of Ramadan, with the US abstaining, but there was no halt to the war.

Monday’s resolution underscores “the importance of the ongoing diplomatic efforts by Egypt, Qatar and the United States aimed at reaching a comprehensive cease-fire deal, consisting of three phases” and says the three countries are ready “to work to ensure negotiations keep going until all the agreements are reached.”

Biden’s May 31 announcement of the new proposal said it would begin with an initial six-week cease-fire and the release of hostages in exchange for Palestinian prisoners, the withdrawal of Israeli forces from populated areas in Gaza and the return of Palestinian civilians to all areas in the territory.

Phase one also requires the safe distribution of humanitarian assistance “at scale throughout the Gaza Strip,” which Biden said would lead to 600 trucks with aid entering Gaza every day. In phase two, the resolution says that with the agreement of Israel and Hamas, “a permanent end to hostilities, in exchange for the release of all other hostages still in Gaza, and a full withdrawal of Israeli forces from Gaza” will take place.

Phase three would launch “a major multi-year reconstruction plan for Gaza and the return of the remains of any deceased hostages still in Gaza to their families.”

The resolution reiterates the Security Council’s “unwavering commitment to achieving the vision of a negotiated two-state solution where two democratic states, Israel and Palestine, live side by side in peace within secure and recognized borders.”

It also stresses “the importance of unifying the Gaza Strip with the West Bank under the Palestinian Authority,” something Netanyahu’s right-wing government has not agreed to.

The Associated Press writer Bassem Mroue contributed to this report from Beirut.

tensions between the leaders of the military and the paramilitary Rapid Support Forces exploded into open fighting in the capital, Khartoum, and elsewhere in the country. The war has wrecked Sudan, killing more than 14,000 people and wounding thousands of others, while pushing its population to the brink of famine. Last month, the UN food agency warned the warring parties that there is a serious risk of widespread starvation and death in the vast western region of Darfur and elsewhere in Sudan if they don’t allow in humanitarian aid.

Pope called for a unified response from the international community, saying less than one-fifth of the funds the IOM has sought for the response have been delivered. Together, the number of refugees and internally displaced means that more than a quarter of Sudan’s population of 47 million has fled

IN this photo provided by the United Nations, members of the UN Security Council vote to approve its first resolution endorsing a cease-fire plan aimed at ending the eight-month war between Israel and Hamas in Gaza on Monday,

Zelenskyy appeals for help with Ukraine’s energy network as recovery conference opens in Berlin

By Geir Moulson & Hanna Arhirova The Associated Press

ERLIN—Ukrainian Presi-

Bdent Volodymyr Z elenskyy appealed for short-term help in repairing his country’s electricity network and long-term investment in its energy system as a conference to gather support for Ukraine’s recovery from the destruction wreaked by Russia’s war opened Tuesday.

Starting a week of intense diplomacy that will also see him travel to the Group of Seven summit of Ukraine’s leading Western allies in Italy and a global peace summit in Switzerland, Z elenskyy also renewed his calls for more help in repelling missile attacks by Russian forces.

The two-day Ukraine Recovery Conference in Berlin follows up on a similar gathering in London a year ago.

The German hosts say it is bringing together 2,000 people from national and local politics, business and other areas, arguing that the

task of supporting Ukraine’s recovery is too big for governments alone.

Among other immediate problems, sustained Russian attacks on Ukraine’s power grid in recent weeks have forced energy companies to institute nationwide rolling blackouts.

Z elenskyy told the conference that, in the coming month, Ukraine needs equipment for heating and electricity plants that are currently out of action. “This will allow us to respond to the situation here and now,” he said.

According to the president, nine gigawatts of electricity generating capacity have been destroyed—including 80 percent of thermal power and one-third of hydroelectric power—while the peak consumption in Ukraine last winter was 18 gigawatts. Energy, he said, continues to be “one of (Russian President Vladimir) Putin’s main targets.”

Looking beyond Ukraine’s immediate problems, Z elenskyy said foreign investments in energy would be mutually beneficial.

“Ukraine has all the natural

Taiwan probes how Chinese f ishin

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foundations for modern energy, but without your financing and investments, we won’t be able to realize this,” he said.

“This is not about grants, but about high-yield investments for your companies, about a large market for your equipment, about loan programs for your

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Modi names Cabinet for coalition govt after his party lost majority

NEW DELHI—India’s Narendra Modi, newly sworn in for a third straight term, named a Cabinet on Monday that retained his top ministers in crucial portfolios despite his Hindu nationalist party losing their majority in a shock election result.

There was no change in the top four ministries. Subrahmanyam Jaishankar, who spearheaded the country’s foreign policy for the last five years, was handed back his position as the External Affairs Minister. Amit Shah will continue as India’s Home Minister, Nirmala Sitharaman will remain as the Finance Minister and Rajnath Singh will continue to be Defense Minister.

India’s six-week-long election came to an end last week, in which Modi’s Bharatiya Janata Party failed to secure a majority on its own after it won landslide victories in 2014 and 2019. However, his National Democratic Alliance coalition won enough seats to form the government, with him at the helm.

This is the first time the BJP under Modi has needed support from its regional allies to form a government after a decade of commanding the majority in India’s parliament. Final election results showed Modi’s BJP won 240 seats, well below the 272 needed for a majority. Together, the parties in the NDA coalition secured 293 seats in the 543-member lower house of parliament.

Modi, 73, is only the second Indian prime minister to win a third straight term.

On Sunday, he and 71 ministers took the oath of office at India’s presidential palace, Rashtrapati Bhavan, in New Delhi. 61 of them were from the BJP while the remaining were BJP’s NDA allies. Only seven of them were women, and not a single one from the Muslim community, the largest minority group in India whose political representation as lawmakers has shrunk under Modi.

The results, which defied exit polls that predicted a landslide for the BJP, left Modi’s coalition government largely dependent on two key regional allies—the Telugu Desam Party in southern Andhra Pradesh state and Janata Dal (United) in eastern Bihar state—to stay in power. On Sunday, two lawmakers from each party were sworn in as ministers.

The surprising drop in support for the BJP means Modi needs support from his regional allies to stay in power, and experts say he may have to adapt to a style of governance he is not used to.

An avowed Hindu nationalist, Modi is considered a champion of the country’s Hindu majority, who make up 80 percent of India’s 1.4 billion population. His supporters credit him with rapid economic growth and improving India’s global standing since coming to power. AP

institutions,” all of which could create tens of thousands of new jobs, he added. That message was echoed by German Chancellor Olaf Scholz, who said the World Bank has estimated that rebuilding and modernizing Ukraine will require investments of nearly $500 billion

over the next 10 years.

“The reconstruction of Ukraine is and also must be a business case,” Scholz told participants. He said that is illustrated by Ukraine having exported excess electricity to the European Union since 2022—“that makes clear what goes for the reconstruction of Ukraine as a whole : it benefits all concerned.”

Scholz, whose country has become Ukraine’s second-biggest weapons supplier after the United States, appealed anew to other allies to help strengthen Ukraine’s air defense, “because the best reconstruction is that which doesn’t have to take place.”

Since Russia launched a spring offensive around Kharkiv, Z elenskyy has insisted Ukraine urgently needs seven more US-made Patriot air defense systems.

The Berlin conference also focuses on support for reforms that Ukraine has embarked on in its bid to join the EU.

On Monday, the head of the State Agency for Restoration of Ukraine, Mustafa Nayyem,

South Korea troops fired warning shots after North’s soldiers briefly crossed land border

By Hyung-Jin Kim The Associated Press

SEOUL, South Korea—South Korean soldiers fired warning shots after North Korean troops briefly violated the tense border earlier this week, South Korea’s military said Tuesday, as the rivals are embroiled in Cold War-style campaigns like balloon launches and propaganda broadcasts.

Bloodshed and violent confrontations have occasionally occurred at the Koreas’ heavily fortified border, called the Demilitarized Z one. While Sunday’s incident happened amid simmering tensions between the two Koreas, observers say it won’t likely develop into another source of animosity as South Korea believes the North Koreans didn’t deliberately commit the border intrusion and North Korea also didn’t return fire.

At 12:30 p.m. on Sunday, some North Korean soldiers who were engaged in unspecified work on the northern side of the border crossed the military demarcation line that bisects the two countries, South Korea’s Joint Chiefs of Staff said.

Those North Korean soldiers carrying construction tools—some of them armed—immediately returned

to their territory after South Korea’s military fired warning shots and issued warning broadcasts, the Joint Chiefs of Staff said. It said North Korea had not conducted any other suspicious activities.

South Korea’s military has assessed that the North Korean soldiers didn’t appear to have intentionally crossed the border because the site is a wooded area and MDL signs there weren’t clearly visible, Joint Chiefs of Staff spokesperson Lee Sung Joon told reporters.

Lee gave no further details. But South Korean media reports said that about 20-30 North Korean soldiers had entered South Korean territory about 50 meters (165 feet) after they likely lost their way. The reports said most of the North Korean soldiers were carrying pickaxes and other construction tools.

The 248-kilometer (155-mile) -long, 4-kilometer (2.5-mile) -wide DM Z is the world’s most heavily armed border. An estimated 2 million mines are peppered inside and near the border, which is also guarded by barbed wire fences, tank traps and combat troops on both sides. It’s a legacy of the 1950-1953 Korean War, which ended with an armistice, not a peace treaty.

On Sunday, South Korea resumed

anti-Pyongyang propaganda broadcasts from its border loudspeakers in response to the North’s recent launches of balloons carrying manure and rubbish across the border.

South Korea said North Korea has installed its own border loudspeakers in response but hasn’t turned them on yet.

North Korea has said its balloon campaign was in response to South Korean activists’ launches of their own balloons to drop propaganda leaflets critical of leader Kim Jong Un’s authoritarian rule, USB sticks with K-pop songs and South Korean drama shows, and other items in North Korea.

North Korea is extremely sensitive to any outside criticism of its political system as most of its 26 million people have no official access to foreign news. On Sunday night, Kim’s sister and senior official, Kim Yo Jong, warned of “a new response” if South Korea continued its loudspeaker broadcasts and refused to stop civilian leafletting campaigns.

The tit-for-tat over speakers and balloons—both Cold War-style psychological warfare—have deepened tensions between the Koreas as talks over the North’s nuclear ambitions have remained stalled for years.

announced his resignation on Facebook. He cited “systemic obstacles that prevent me from exercising my powers effectively” and accused the government of bogging his agency down in red tape.

Ukraine hasn’t had a minister dedicated to reconstruction since Oleksandr Kubrakov was dismissed in May. Nayyem complained that Ukraine’s prime minister barred him from attending the Berlin conference.

Z elenskyy, making his third visit to Berlin since Russia’s fullscale invasion started in February 2022, is also expected to make a speech to the German parliament, or Bundestag. He made a video address to lawmakers a few weeks after the war started.

The Ukrainian president last visited in mid-February, when he signed a bilateral security agreement with Scholz, one of a string of such accords that allies have reached with Kyiv to signal their long-term backing.

Arhirova reported from Kyiv, Ukraine.

d requesting financia assistance will receive an advance payment of $25,000 for their immediate needs, it said. “This will be part of the f nal compensation that these passengers will receive,” it said Th e air l ne said it w i ll a s o prov id e f ull air

f are re f un ds t o a ll pass en g e rs on th e f l ight i n c lu di n g th o s e w ith ou t a n y i

c o m p en sati

i n acc o rda n c e w ith Eu ro p e a n Un i on o r U K re g ul ati on s, it said Th e air l i ne add e d that it had a l re ad y gi ven a ll pass en g e rs 1,000 S i n gap o re d oll ars ($739) e ach f o r th e ir i mm e diat e nee ds c ove r e d m e dica l e xp en s e s o f i n j u re d pass en g e rs, a n d arra n g e d f o r th e ir f a m i l y m e m b e rs a n d love d one s t o f l y u p t o B a n g ko k w h e re re q ue st e d A prel i m i n ar y nve stigati

by S i n gap o re’s Tra n sp o rt M i n istr y said th e p l a ne wen t throu gh h u g e s w n gs i n g - f o rc e i n le ss tha n f ve s e c on ds, l i kel y ca u si n g th e n u ri e s t o p eo p le w h o we ren’t b u c k le d i n t o th e ir s e ats I t said th e j e t dro pp e d 178 f ee t ( 5 4 m e t e rs ) i n le ss tha n one s e c on d, w hich “l kel y re s ul t e d i n th e o cc u pa n ts w h o we re no t b el t e d u p t o b e c o m e airb o r ne” b e f o re f a ll i n g bac k d own. O ff icia s said th e t u rb ulen c e w as b el eve d t o have str u c k w h en m e a s we re b e n g s e r ve d a n d m a n y p eo p le we re no t u si n g s e at b el ts Pass en g e rs have d e scrib e d th e “sh ee r t e rro r ” o f th e aircra f t sh u dd e ri n g, loo s e it e m s f l y i n g a n d i n j u re d p eo p le l y i n g para l yze d on th e f loo r o f th e p a ne. I t was un c le ar w hat ca u s e d th e t u rb ulen c e. Mo st p eo p le ass o ciat e t u rb ulen c e w ith h e a v y st o r m s , b u t th e m o st da n g e r ou s t y p e is s o- ca lle d c le ar air t u rb ulen c e. Su ch t u rb ulen c e ca n o cc u r n w isp y cirr u s c lou ds o r even i n c le ar air ne

UKRAINE’S President Volodymyr Zelenskyy, left, and German Chancellor Olaf Scholz interact

conference on the recovery of Ukraine, in Berlin, on Tuesday, June 11, 2024.

Philippines struggles to secure food supply amidst global turmoil

SHIPOWNERS from Greece to Singapore expect business to flourish, at least in the next few years, despite disruptions that could pose threats to their operations. Bloomberg reported that shipowners are bracing for prolonged earnings amid geopolitical conflicts and doubts about the supply of new ships. (See, “Golden era for shipping seen ahead as geopolitics boosts pricing,” in the BusinessMirror, June 9, 2024).

locations that forced

tankers to go on longer voyages. T he ear nings boom may be good news for shipowners and allied industries, but it cou ld be a source of f rustration for countries that have been tr y ing to tame inflation like the Phi lippines. More expensive log istics cou ld mean costlier food items that the Phi lippines has been impor ting for years. And even if the food items being impor ted by the Phi lippines are not d irectly affected by higher shipping costs, the countr y w i ll not be spared f rom the impact of pricier f uel.

Unfor tunately for the Phi lippines, conflicts in other par ts of the world are beyond its control. T he most Mani la can do is to make appeals and join calls for those involved to come to the negotiating table and resolve their conflict in a peacef u l manner W hi le they wait for these squabbles among cer tain nations to end, foodimpor ting countries like the Phi lippines wou ld have to cough up more f unds to pay extra for the commod ities they need.

Securing the food supply of the Phi lippines in the face of all these d isruptions is becoming more challeng ing, but there is something the gover nment can do to somehow cushion the impact of these developments. For one, it shou ld now fast track the implementation of initiatives aimed at increasing the productiv ity of local far ms. Increments in output must be substantial, par ticu larly for staples like rice, which the Phi lippines w i ll continue to impor t in huge quantities sans the needed investments in irrigation. (See, “40 years of poor rice yield make imports crucial,” in the BusinessMirror , June 11, 2024).

T he reduction in rice tariffs w i ll ease the pressure for now and may eventually resu lt in the decline in retai l prices, but policymakers must remember that inter national quotations w i ll remain elevated and may rise in the coming years as resources continue to shrink and climate change makes it more challeng ing to g row crops. T he countr y’s top economist himself has acknowledged that the retai l prices of rice wou ld not rever t to levels seen in 2023 just because the gover nment decided to slash tariffs. W hat this means is that it is time for the Phi lippines to f ind the solutions to its food conundrum w ithin its own borders and to stop rely ing on foreign producers to feed its own citizens.

Human capital

INVESTING in human capital is a set of words that may not appeal to young economics students. It does not immediately equate to prices, gross domestic product and other fundamental concepts of economics. Yet, human capital is one factor as important as infrastructure, employment and production that move the economy.

T he state and private companies invest

gover nment prog rams. T he Nat ional Econom ic and Development A ut hority (Neda) last week reiterated gover nment’s comm itment to create more high- qu ality jobs for Fi l ipinos by invest ing i n hu man capital, re i nv i gor at i ng indust r y and priority sectors, and pushing for massive inf rast ruct ure development.

Ambassador Antonio L. Cabangon Chua Founder

BNeda renewed t he pledge after t he u nemployment rate in t he Phi lippines rose sl ightly to 4.0 percent in Apri l 2024 f rom 3.9 percent in Ma rc h and 3.5 percent in Febru a r y, per t he repor t of t he Phi l ippine Stat ist ics Aut hority. T he Neda, t hough noted a surge in m iddle-sk i lled occ upat ions (+1. 3 m i ll ion) and f u ll-t ime employment (+6.1 m i ll ion), ind icat ing improved job qu al ity.

“T he gover nment’s massive inf rast ruct ure push is expected to create oppor t unit ies in several priority secto

rs, suc h as energy, log i st ics, and tourism. T he gover nment w i ll also explore oppor t unit ies for qu ality job g rowt h in t he m ining sector, leverag ing ava i lable tec hnolog ies to develop value-add ing act iv it ies suc h

By Bob Van Voris & Chris Dolmetsch

ILL HWANG’Stop trader at Archegos Capital Management gave damning testimony against the boss, telling a jury Hwang told him to do “the opposite” of what a “normal fund” would.

as m ineral processing,” says Neda

Secreta r y A rsenio Bal isacan.

T he qu al ity of our labor ma rket

is crit ical to att ract ing investments and speed ing up t he const ruct ion of v ital inf rast ruct ure projects.

As Mr Balisacan correctly pointed

out, invest ing in human capital, or i mprov i ng educat ion, healt hca re, and soc ial ser v ices, shou ld be a top priority of t he gover nment.

T he gover nment is d raft ing t he Traba ho Pa ra sa Bayan (T PB) Plan

t hat w i ll ser ve as t he count r y’s comprehensive employment generat ion and recover y master plan. It a ims to add ress unemployment, underemployment, infor mal work ing a rrangements and ot her labor ma rket c hallenges.

T h e TB P P lan i s foc u s i ng on en h anc i ng t he employabi l ity and compet it iveness of Fi l ipi no workers t hrough upsk i ll ing and resk i lling init iat ives. Suppor t for m icro, small, and med iu m enter prises and industr y stakeholders is also integ ral to t he plan. “T he gove r nment a i ms to assist Fi l ipino workers in t he d ig ital age. Init iat ives include reduc ing job search duration, upsk i lling the workforce, and fac i l itat ing t he t ransit ion towa rds hig her - i ncome jobs. T he urgent passage of next-generat ion refor ms, includ ing t he Konektadong Pinoy Bi ll, w i ll play a cruc ial role in opening up more work oppor tunities and developing d ig ital

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news.businessmirror@gmail.com www.news.businessmirror@gmail.com Printed by

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up AG. Hwang and his co-defendant, for-

r Chief Financial Officer Patrick Halligan, have pleaded not g uilty and are in the fifth week of testimony against them in their trial in lower Manhattan. Hwang’s legal team claims he used multiple counter parties to minimize risk, not to improperly maximize leverage or conceal the nature of their trading as the gover nment contends.

Halligan, the CFO, had no role in trading but is charged in connection

tact ics t hat catapu lted Hwang’s for t u ne f rom $1.5 bi ll ion to $36 bi ll ion in t he yea r before t he f ir m’s collapse. T he for mer head t rader described an October 2020 selloff in GSX Tec hedu Inc., one of t he biggest stocks in A rchegos’ por tfolio. Tomita sa id he was d riv ing in Westc hester when Hwang called him and told him to pu ll over Hwang wanted to f ind more capac ity w it h t rad ing pa r tners to buy more GSX and ot her A rc hegos holdings, at t he same t ime sell ing high ly l iquid stocks l i ke Amazon.com Inc. and Facebook, Tom ita recalled. T he goal was to use “capacity at t he crit ical t ime of t he close to push t hese stocks back up,” Tom ita test if ied. L i ke Becker, Tom ita ag reed to plead g ui lty and test i fy aga i nst Hwang and Hall igan in hopes of leniency. During cross-exam inat ion, t he defense has pressed Becker and ot h

THE BUILDER

Mark Villar

SOLON CITES PAGCOR’S ROLE IN DRIVE VS. ERRANT POGOS

HOUSE Committee on Ways and Means Chairman Joey Sarte Salceda on Tuesday commended the Philippine Amusement and Gaming Corporation (Pagcor) for its enhanced law enforcement and revenue collection efforts, specifically targeting offshore gaming licensees (OGLs), which collected P5.1 billion last year.

Salceda acknowledged the significant improvements made by Pagcor in controlling and regulating the offshore gaming sector, highlighting its transition into a more regulated and contributing part of the economy.

According to data from Pagcor provided to Salceda’s office, the agency’s collections from OGLs in 2023 increased to P5.1 billion from just 87 licensees, compared to P2.99 billion from 158 licensees in the previous year. This amount is second only to the 2019 collections, the first full year of legalized OGL operations, when Pagcor collected around P7.96 billion from 298 licensees.

“Ever since the appointment of Chairman Al Tengco, and later on by President and CEO Amy Eisma, Pagcor has been modernizing its policies and practices. The licensing regulations on offshore gaming, now known as internet gaming licensees under Pagcor’s revised rules, have significantly improved revenue collections, despite also reducing the number of total licensees,” Salceda said.

He added: “As far as a supposed ‘phase-out’ is concerned, that’s the kind of phase-out I fully

support: You phase out the bad and mediocre licensees. You don’t phase the whole industry out. You enforce the law.”

He also noted the shift in workforce demographics within the Pogo sector. At its peak, there were as many as 200,000 Chinese workers involved with Pogos. Now, only about 8,500 are directly hired Chinese workers. Of the approximately 100,000 total direct or indirect hires, about 65,000 are Filipinos. Out of the 60,000 direct hires, 25,000 are Filipinos, with Vietnamese hires now outnumbering Chinese hires at about 11,000.

Salceda also highlighted the role Pagcor played in apprehending allegedly illegal offshore gaming operations in Bamban, Tarlac.

“No one talks about it too much, but I think it deserves to be said: It was Pagcor who made the first move to catch the illegal operations. I just wish Pagcorwould be more media savvy about their accomplishments, because they’re one of the best performers in the government corporate sector right now. And they deal with sensitive concerns that the public should know,” he added.

“The Pagcor leadership has been very media-shy. But I will sing their unsung but deserved praises anyway: Pagcor has been enforcing rules on POGOs better, and they are turning the sector into an industry that creates more jobs for Filipinos and no longer relies exclusively on Chinese demand or labor,” Salceda said.

Jovee Marie N. Dela Cruz

‘Offset no-new-tax impact, broaden the VAT tax base’

By Reine Juvierre S. Alberto

AS the national government remained firm on imposing no new taxes this year, the International Monetary Fund (IMF) said the Philippines could broaden the tax base of value-added tax (VAT) to increase the collection of tax revenues.

ts i n t he Phi l ippi nes g rew by 3 0.5 pe rcent yea r -on-yea r BSP data also s howed nat ionw ide hou s i ng loan ava i lments cont i nued to g row by 26.9 pe rcent on a qu a r te r -on- qu a r te r bas i s. RRELs i n NCR or Met ro Man i la surged 3 8.5 percent whi le t he same posted a g rowt h of 26.6 pe rcent i n AONCR.

BSP sa id t he total nu mbe r of RRELs g r anted i n t he Phi l ippi nes rose by 25.2 pe rcent. T he pace of g rowt h was almost t he same i n NCR at 25.8 pe rcent and AONCR at 25 pe rcent. T he total nu mbe r of t r ansac-

t ions g rew by 14.4 pe rcent on a qu a r te rly bas i s due to t he 10.5 pe rcent and 16.2 pe rcent i nc rease i n t he nu mbe r of RRELs i n t he NCR and AONCR, respect i vely. Most of t he RRELs g r anted i n t he NCR we re for t he purc h ase of condom i n iu m u

By Jonathan L. Mayuga @jonlmayuga

Editor: Jennifer A. Ng

By VG Cabuag

BBy Cai U. Ordinario @caiordinario

RISK demand for commercial vehicles buoyed the performance of the local automotive industry in January to May, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA).

By Lenie Lectura @llectura

e t ransm i ssion system in 2009.”

T he projects h ave allowed t he ent r y of 12,100 MW of add it ional power, whi le incom ing projects w i ll accommodate anot her 7,600 MW by 2028. NGCP sa id t hese incom ing projects awa it approval f rom t he Energy Reg u lator y Commission (ERC). NGCP President Anthony Almeda reiterated t he g rid operator’s read iness to accommodate and t ransm it any and all ava i lable power to t he g rid. “We welcome t he ent r y of new energy sources to add ress t he need for add it ional power supply and ensure t he rel iabi l ity, adequ acy, and qu al ity of power being t ransm itted.”

THE Cour t of Appeals (CA)

has extended for si x mont hs its f reeze order on t he bank, investment and ins

Recently, t he g rid operator signed an ag reement w it h San Ignac io Energy Resources Development Cor p. (SIERDC) to connect t he latte r ’s planned 440MW g round mounted sola r PV project to its Gamu substat ion in Isabela.

dust r y. “T here a re t hree ma i n pa r

y, and all of

re connected: t he

rators who generate and supply power, t he t ransm ission ser v ice prov ider, t hat’s us, NGCP, we bring t he generators to t he t hird l ink, t he d ist ribut ion ut i l it ies and cooperat ives who conver t t his power and del iver it in usable for m to end consume

ty and resi l iency,” added Almeda.

T he g rid operator sa id t his connect i on ag r eement w i ll f ur t h e r en hance synergy and connect iv ity among t he players in t he power in-

DBM releases ₧5.114T of 2024 national budget as of end-May

By Reine Juvierre Alberto

THE government has released 88.7 percent of the P5.767-trillion national budget for 2024 as of end-May to accelerate the implementation of the state’s programs and projects.

Accord ing to t he Depa r tment of Budget and Management

llion, w ith a release rate of 97.6 percent, and st i ll have a rema ining balance of P85.117 bi ll ion for t he yea r Mor

Mixed

of T

Roffe ri ng t hr o u g h t h e sale of r e i ss u ed 10-yea r T-bonds.

T h e long-teno r debt pape r s’ ave r age r ate settled at 6.754 pe r cent,

w it h a r ema i n i ng l i fe of n i ne yea r s and seven mont h s, acco r d i ng to t h e

Tr eas ur y. T h e ave r age y i eld i s hi g h e r t h an

t h e compa r able 10-yea r P H P BVAL

y i eld at 6.71 pe r cent as of Ju ne 10, afte r t h e US dolla r/peso exc h ange went u p to 19-mont h hi g h s w hi c h co u ld lead to hi g h e r i mpo r tat i on p ri ces and i nflat i on. Offe r s made by i nvesto r s fo r t h e y i eld r anged f r om a low of 6.680 pe r cent to a hi g h of 6.780 pe r cent, acco r d i ng to t h e Tr eas ur y. T h e a u ct i on was 1.8 t i mes ove rs u bsc ri bed w it h total tende r s r eac hi ng P 5 3 .1 b i ll i on, lowe r t h an t h e P 71.24 b i ll i on total tende r s i n t h e p r ev i o u s a u ct i on on May 7. “W it h its dec i s i on, t h e Comm ittee r a i sed P 26.2 b i ll i on o u t of t h e P3 0.0 b i ll i on offe ri ng, b ri ng i ng t h e total o utstand i ng volu me fo r t h e seri es to P 141.9 b i ll i on,” t h e Tr eas ur y

u s f i ve cent uri es ago, “ i n t h e land of t h e bl i nd, t h e one-eyed man i s k i ng.” Ce r ta i n females may be p h ys i cally st r onge r t h an some males b ut on ave r age s u c h wo u ld not be t h e case, w hi c h i s w h y i n most spo r ts, males and females a r e i n d i ffe r ent catego ri es. Adm ittedly, it does get mo r e conf u s i ng w h en t r ansgende r i ss u es a r e i nvolved pa r t i c u la r ly w h en o ri g i nally b i olog i cal males r e qu est t h at t h ey be r eclass i f i ed as females. S i m i la r ly, standa r ds a r e d i ffe r ent fo r d i ffe r ent pa r ts of t h e wo r ld. Fo r example, t h e ave r age h e i g ht of a male As i an pe r son i s only 5 feet 6.8 i nc h es, t h e r efo r e As i an males w h o a r e 5 feet 10 i nc h es tall may be cons i de r ed tall. Howeve r, i f t h ey go to E ur ope, t h e ir h e i g ht wo u ld only be cons i de r ed as ave rage, s i nce t h e ave r age h e i g ht of a male E ur opean i s 5 feet 10 i nc h es. In t h e b u s i ness wo r ld,

sa i d i n a statement. R i zal Comme r c i al Bank i ng Co r p. (RCBC) C hi ef Econom i st M i c h ael L. R i cafo r t po i nted to t h e weake r peso w hi c h ca u sed t h e hi g h e r 10-yea r T-bond ave r age a u ct i on y i eld. R i cafo r t sa i d t h e compa r able 10yea r US Tr eas ur y y i eld also went u p to a new 1-week hi g h recently at 4.46 pe r cent afte r t h e “st r onge r -t h anexpected” US non-fa r m j obs data w hi c h r ed u ced t h e odds of f u t ur e US Fede r al Rese r ve r ate c u ts late r i n t h e yea r “Howeve r it i s i nte rest i ng to note t h at t h e ave r age 10-yea r Tr eas ur y bond ave r

ur r ank i ng gets downg r aded. T hi s typ ically h appens w h en yo u

r e u nable to matc h t h e g r owt h r ate of yo ur p ri ma r y compet i to r s, w hi c h w i ll r es u lt i n an e r os i on of yo ur ma r ket s h a r e and v i ce ve r sa. H i sto ri cal data i s also u sed as a benc h ma r k fo r pe r fo r mance. Yo u can compa r e yo ur company’s pe r fo r mance not only aga i nst yo ur pee r g r o u p and t h e i nd u st r y’s data b u t also aga i nst p r ev i o u s pe r fo r mance. If t h e r evenu es of t h e company i nc r eased by 20 pe r cent, b u t yo ur pee r g r o u p and t h e i nd u st r y g r ew by 22 pe r cent and 18 pe rcent, r espect i vely, and t h e company’s g r owt h r ate last yea r was 15 pe r cent, d i d yo ur company do well? Relat i ve to yo ur pee r g r o u p, yo u d i d not do so well, b u t r elat i ve to t h e i nd u st r y and t h e hi sto ri cal pe r fo r mance yo u d i d well. Of co ur se, t h e r e a r e n u me ro u s facto r s to cons i de r Nonet h eless, i t i s s u ff i c i ent to say t h at w h en yo u meas ur e pe rfo r mance i t s h o u ld be r elat i ve to w h at benc h ma r k yo u a r e compa ri ng aga i nst. We s h o u ld also not lose s i g h t of t h e fact t h at t h e r e i s mo r e to s i mply i nc r eas i ng r even u es and ma r ket s h a r e; i n most cases t h e mo r e i

p r ev i o u s 10-yea r T-bond ave r age a u ct i on y i eld of 6.825 pe r cent on May 7, 2024 o r a l ittle ove r a mont h ago,” h e added.

Fo r t h e mont h of J u ne, t h e gove r nment a i ms to bo rr ow P 180 b i ll i on t hr o u g h t h e a u ct i on of Tbonds eve r y Tu esday and P 60 b i ll i on t hr o u g h t h e sale of T-b i lls eve r y Monday. T h e Depa r tment of F i nance (DOF) r a i sed t h e gove r nment’s bo rrow i ng plan to P 2.57 t ri ll ion i n 2024, follow i ng a 75 : 25 m i x, w h e r e i n 75 pe r cent of t h e amo u nt wo u ld come f r om t h e local debt ma r ket w hi le t h e r ema i n i ng qu a r te r wo u ld be bo rr owed exte r nally. Reine Juvierre Alberto

By Cai U. Ordinario @caiordinario

The views and comments of Dr. George S. Chua are his own and not of the newspaper or FINEX. The author was 2016 FINEX President, 2010 to 2020 FPI President, an active entrepreneur in fintech, broadcast, media, telecommunications, real estate and a regular member of the National Press Club. Dr. Chua is also a Professorial Lecturer 2 at the University of the Philippines Diliman and BGC Campus, a Trustee of the FINEX Foundation and the Vice Chairman of the Market Governance Board of the Philippine Dealing and Exchange Corp. Comments

of t h e MORNBFI of 2021, all Rem ittance and Tr ansfe r Company (RTC), Money C h ange r (MC), and Fo r e i gn Exc h ange Deale r (F X D) s h o u ld r eg i ste r w it h t h e BS P befo r e t h ey can ope r ate. T h ese compan i es mu st also obta i n p ri o r app r oval f r om t h e BS P fo r any c h ange i n : owne r s hi p of a sole p r op ri eto r s hi p o r pa r tne r s hi p; o r cont r ol of a co r po r at i on as well as s u bm i

Show BusinessMirror

Glen Powell gives big leading man energy in ‘Hit Man’

By Eugenia Last

LUCKY GIRL

SO many people think the actress is so lucky because she married a rich but old guy who isn’t bad-looking. But contemporaries of the guy think she is lucky because he is good-looking. They think she hit the jackpot in terms of looks. It’s true that he is rich but back in the day, he was a “crush ng bayan.” He may now look like a young grandpa but he used

to have a lot of female admirers and while he has had many relationships, he was never a cheater. He also continues to support his kids from relationships with other women, which is why he remains OK with his exes.

MERCURIAL PERSONALITY

THE TV host continues to puzzle people with his mercurial personality. For example, he would ask people out to lunch an hour before the scheduled time and if they are late by even a minute, he will walk out. These people aren’t as rich as he is so it takes a lot out of them to dress up in a hurry and expect to be fed, only to be told they were five minutes late. The TV host is annoyed by every inconvenience and snaps at anyone he sees as being in his way. This is why the channel where he belonged for years found it so easy to let him go.

DROPPED?

AS they say, there are always three versions of every story and those are the respective stories of the two parties

involved and then there’s the truth. How true is the rumor that a major celebrity is no longer an endorser of a popular Filipino brand. She has been with this brand for years. According to the first story, the celebrity dropped the endorsement because of conflicts with her beliefs and personal advocacy. The other story goes that the celebrity was dropped by the brand. So which story is true? It’s a combination of both. Only the brand and the celebrity can talk about what really happened.

THE TRUE STORY

MOST people still blame the young actress for the break-up of the relationship of the actor and the actress. It is true that the actor fell in love with her while still in a relationship with the actress. However, the actor already cheated on his then girlfriend even before he fell in love with the young actress. He actually had an affair with a beauty queen before that. This almost caused their break-up. He almost left the actress for the beauty queen. Lucky for the actress, the beauty queen considered it as a fling.

Take control, learn as you go, and initiate changes to your routine or surroundings to encourage progress. Refuse to let anyone interfere with your personal growth, ambition or physical well-being. Gather information that will contribute to making better decisions regarding money.

Set your sights on the big picture, and work your charm and magic to get what you want. Refuse to let emotional matters drag you down when your finances and investments depend on having a sound mind and plan to protect against loss.

Size up situations and initiate change before someone else steps in and takes over. Make an impression and use your ingenuity and staying power, and you will outshine anyone trying to outmaneuver you. Avoid joint ventures and iffy investments.

Put your energy where it counts; don’t waste time on no-win situations, arguments or exaggerated circumstances. Collect your thoughts before you engage in talks or make promises, and you will make progress. Don’t believe everything you hear.

Don’t take risks that can damage your reputation or counter your effort to excel professionally. Too much of anything will work against you. Be a good listener and observer, and be reluctant to make cash contributions.

Take a break, look around and be grateful. Concentrate on who you want to be and how you want to present yourself to others. A makeover will lift your spirits and attract attention. Don’t be a follower. Refrain from laboring over things you cannot change. Protect yourself and your belongings from unpredictable people and situations. Make changes that stabilize your life rather than letting emotions dictate what you do next.

You are generous, playful and ambitious. You are sensitive and powerful.

ADRIA ARJONA (left) and Glen Powell in a scene from Hit Man, which is being streamed on Netflix.

WHY HAVING A PASSION FOR COFFEE IS BLACK AND WHITE— IN UNEXPECTED WAYS

PASSION can be expressed in several ways. For coffee enthusiasts, having a taste for only the best brews comes naturally. For others, they perceive their love for it as a form of art and a method of self-expression.

Breville Philippines (www.breville.com.ph), one of the country’s leading home lifestyle providers, resonates with all of the above. The brand, which is synonymous with its top-quality home and kitchen essentials, has mastered not only the craft of tapping the passion of their market but also constantly expands it.

Its upcoming release of new colorways for some of its espresso machines is proof of this. For customers who have an eye for design, you will be pleased to know that Breville’s Bambino Plus and Barista Express Impress espresso machines will soon be available in Sea Salt and Black Truffle variations designed to elevate the aesthetics of your coffee corner. Imagine the diamond white of natural sea salt with a pinch of matte pearl and you have the Sea Salt colorway, which is perfect for anyone who loves a minimalist style. The Black Truffle, on the other hand, is an elegant shade inspired by decadent black truffles in a luxurious velvet-like matte coating. For those who prefer a sleeker, more modern look, this colorway is sure to give an aesthetic twist in your coffee corner.

Both models incorporate the four keys formula used by professional coffee machines—a sequence that combines precision puck, extraction pressure, extraction temperature, and microfoam bubbles—allowing home users to enjoy quality coffee right in the comfort of their homes.

Undoubtedly, Breville Philippines was able to establish a long-standing impact in the coffee community by constantly breaking barriers. While before having a passion for coffee was seen to be exclusive and high-brow, the brand has worked in making it more inclusive to everyone regardless of their level of knowledge through their products. Now, Breville is expanding its reach by also catering to the self-expression of its market through the elegant designs of its products. The new colorways for the Breville Bambino Plus and Barista Express Impress’ are currently open for pre-orders. The offer is only available in select SM Home branches nationwide. Meanwhile, the brand is also running the Brew Buddies promo which lets customers enjoy 50 percent off the Breville Smart Grinder Pro when you buy the Bambino Plus Stainless Steel Model. The offer is available via Breville’s official e-commerce channels and home appliance partner stores and malls. Make sure to only buy from authorized dealers to ensure the quality of your Breville products.

‘Hit Man’...

a bigger twist, a stickier con lict, some heightened stakes. Hit Man was a movie that got some breathless praise out of the fall ilm festivals, which might be to its detriment. It’s perfectly enjoyable: a glossy, easy-to-digest Powell showcase that isn’t trying to be anything but fun. But the second coming of the action-comedy-romance, it is not.

Image BusinessMirror

B5 Editor: Gerard S. Ramos

Conducting a blameless postmortem

IN the fast-paced and complex environment of organizations today, incidents and failures are unavoidable, especially in a team that values a growth mindset. Whether it is a system outage, a product defect, or a missed deadline, understanding and learning from these events is crucial for your team to learn from their mistakes and drive continuous improvement.

A blameless postmortem is a process aimed at dissecting events without assigning fault to individuals. This approach helps develop a culture of openness, learning and collaboration, ultimately leading to more adaptive systems and processes. This means looking at the processes and the checks and balances in place to ensure that team members will avoid repeating the same mistakes in the future. If you are serious in helping improve your team members, you need to approach incidents as opportunities for growth where your team can approach any issue as an opportunity for growth and not something they should dread.

Which brings me to the irst thing you need to do—establish the right mindset. The success of a blameless postmortem begins with the proper mindset, which aims to learn and improve, not to ind scapegoats. ncourage a culture where mistakes are seen as learning opportunities and where team members feel safe to share their thoughts and experiences without fear of retribution. This

psychological safety is foundational to the entire process and helps team members to objectively look at what went wrong and see how they can avoid it in the future.

One thing I learned from a previous leader is to adopt a mindset of looking at the process, not the person because people will always make mistakes. As a leader, what have you put in place so that people’s mistakes are minimized or even avoided? lear processes and work lows help your team avoid mistakes and make it easier to identify which can be improved, especially if people keep making mistakes in a speci ic work process.

Before you set a meeting to do a postmortem analysis, gather the facts. Collecting accurate data is crucial for an e fective postmortem because you cannot assume things based on your own perceptions alone. Start by assembling a timeline of events, including what happened, when it happened, and how it was discovered. If possible, use logs, monitoring tools, and eyewitness accounts to build a clear comprehensive picture of what really happened. Be meticulous in documenting the sequence of events, as this will form the basis of your analysis and subsequently your conclusion and action plans.

Once you have an accurate picture of what happened, meet the entire team and, if possible, bring together all relevant stakeholders, including those directly involved in the incident and others who may o fer valuable perspectives. This interdisciplinary team should include everyone a fected by the incident because each member’s insights are valuable for a holistic understanding of the issue. Just like any project closure, everyone involved should be present so that everyone can learn from the issues and incidents that arose from the project which they will in turn bring to their teams.

When you meet them, facilitate a structured meeting where the focus is on understanding the incident in detail. Walk them through the timeline of events and allow the team to provide additional

7 trends that shape the future of textile industry–experts

TEXTURES and visual interests headline the current textile landscape—from fashion to lifestyle interiors.

Fashion designer Christine Cheryl Benet reveals how this year’s trends champion innovation and sustainability. She is a consultant of the Department of Trade and Industry, Department of Science and Technology, and Technical Education and Skills Development Authority in diverse projects related to textile, fashion and jewelry.

“Brands are moving towards more conscious methods of materiality,” she explains. “There has been a heightened appreciation of handicrafts, arts, and do-it-yourself [DIY].” Independent natural dye artist Diana Katigbak, who specializes in indigo dyeing, likewise notes how today’s consumers are more aware of the impact of textile waste on society and the climate.

“They demand more transparency from the retailers they buy from,” she adds. “There is a thrust for change in business practices and a need for textile material innovation.”

To guide the general public, the experts rounded up the latest trends per the forecasting company WGSN. Comprised of over 250 data scientists, WGSN curates an immense online library of insights and inspirations in fashion, retail, and the entire lifestyle industry.

ENVIRONMENT-FRIENDLY AND BIODEGRADABLE PRINT ALTERNATIVES LEAD THE SHIFT TO A CIRCULAR ECONOMY. Eco-conscious customers desire natural solutions, from cultivated bacteria to flower printing.

HEIRLOOM CRAFTS REIGN. As traditional cross stitch and embroideries make a grand comeback, deadstock fabrics—from vintage linens to cotton—are repurposed as base cloth.

In this endeavor, Benet, the proponent of the Bachelor in Textile Design (BTD) of the De La Salle-College of Saint

Benilde (DLS-CSB), promotes commitment to culture and community. “Work with local artisans who use traditional techniques to authentically create embroidered styles,” she recommends. “Textiles have been a large part of the Philippine cultural identity,” Katigbak, the program coordinator of BTD, emphasizes. “Many indigenous weaves represent cultural groups in the different regions of the country.”

For structure, highlights include applique cutworks and interlaced constructions. Benet expounds that this process echoes the goal of circularity as it enables the use of a single material to increase recyclability. When it comes to surface design, sensory experience takes center stage. An added tactile dimensionality to everyday items embeds a level of comfort. Bejeweled products and beaded embellishments elevate texture. Meanwhile, mono-material composition makes for a contemporary approach. Layering of fabrics and using threads of the same fiber composition strengthens recyclability. “There is power in quilting for genuine storytelling,” Benet assures. Textile also serves as an artist’s canvas. Paint splashes and imperfect details posit distinct looks and finishes, whereas expressive stitching calls for freeform decoration and DIY opportunities.

context and correct any inaccuracies. Then, discuss what went wrong and why. Look beyond the immediate technical failures to explore underlying causes, such as process de iciencies, communication breakdowns, or inadequate training. ncourage open discussion about what was learned from the incident. What unexpected outcomes or insights emerged? How did the team’s actions help or hinder the resolution? And then, develop action plans to prevent similar incidents in the future. These actions should address both immediate ixes and longer-term improvements in processes and training.

ocument the indings and action items in a clear and accessible format. If your organization has it, share this report with the entire organization to promote transparency and collective learning. Highlight key takeaways and celebrate the improvements made as a result of the postmortem.

The postmortem process does not end with the meeting. Follow up on the action items to ensure they are implemented e fectively. Schedule a review meeting to assess the impact of these changes and to discuss any new insights or challenges that have emerged. A blameless postmortem should be part of a broader culture of continuous improvement. egularly review and re ine your postmortem process to make it more e fective. ncourage feedback from team members on how the process can be improved and integrate these suggestions into future postmortems.

Blameless postmortems are a powerful tool for learning from incidents and improving your team’s resilience. By focusing on understanding rather than blaming, your team can create a culture of continuous learning and improvement. This approach not only helps in resolving current issues but also in building more robust systems and processes for the future.

Remember, the ultimate goal of a postmortem is not to assign blame, but to ensure that the same mistakes are not repeated, fostering a more resilient and innovative organization.

In shaping the industry’s future, Benet, the former Benilde Environment Studies Cluster associate dean and Fashion Design and Merchandising program chairman, sheds light on the importance of textile education in the Philippines. “Textile is one of the most commonly used mediums in everyday living, from garments to upholstery. Filipinos need to have a heightened awareness of materiality to be more discerning in designing and purchasing products,” she states. To add, Katigbak states how it addresses the need to focus on material development to be competitive in the local and global industry.

“Their unique experiences and beliefs will be reflected in their works when given an environment that allows them to explore their curiosities.”

“Innovation of local natural fibers that are abundant in our country allows design breakthroughs appropriate for the needs of the Filipino way of living,” the educator says. “It is an edge we can offer the global supply chain.” The fashion experts emphasize the importance of a heritage program which recognizes sustainability for future generations. “Young creatives offer a perspective that can drive textile design and craft into the future,” Katigbak affirms.

“Educating the youth and expanding their awareness of the cultural history and significance of textiles in

MBC, DOW PHILIPPINES TURN OVER 25 UPCYCLED BIKE RACKS TO MUNTINLUPA LGU

REPRESENTATIVES from the Makati Business Club and Dow Chemical Philippines, Inc. turned over 25 bike racks to the City Government of Muntinlupa led by Mayor Ruffy Biazon.

i c congest i on and h elp employees b i ke to wo r k, and t h ose fo r w h om b i k i ng i s wo r k.” T h e b i ke r acks, p r od u ced by Env ir otec h Waste Recycl i ng, Inc, a r e completely made f r om u pcycled mate ri als s u c h as sty r ofoam, b u bblew r ap, sando bags, and non- r ecyclable and m u lt i -laye r packagi ng l i ke sac h ets, candy w r appe r s, and fo i l packag i ng. App r ox i mately 1,770 kg of plast i c waste was r ecycled to man u fact ur e 55 b i ke r acks, w i t h t h e C i ty Gove r nment of Las Pi nas as t h e ot h e r i ntended r ec i p i ent of t hi s i n i t i at i ve. “T hi s p r o j ect r eflects Dow’s comm itment to s u sta i nab i l i ty and t h e c ir c u la r economy.

r

DLSU posts 100% passing

D

two eng i nee ri ng f i elds. DLSU ac hi eved a pass i ng pe r centage of 100 pe r cent i n t h e Ma r c h 2024 L i cens ur e Exam i nat i on fo r Teac h e r s at t h e elementa r y level and t h e May 2024 C h em i cal Eng i nee r s L i cens ur e Exam. Angel i ca Faye P anl i l i o r anked 10t h i n t h e LET elementa r y level w

n d a smart way o f livi n g by impr o vi n g th e q u ality o f lif e o f Filipi no s throu gh th e wid e array o f smart h o m e d e vic e s, h o m e a n d livi n g, en t e rtai n m en t, kitch en , p e t, m o bil e a n d m o r e Thr ou gh th e C HERRY I oT (I n t e r ne t o f Thi n gs) S o u ti on s app, all o f th e s e pr o d u cts ca n b e e asily c on tr o ll e d with j u st a click fr o m y ou r d e vic e l e tti n g y ou a n d y ou r family e xp e ri en c e c o mf o rt a n d acc e ssibility i n one m o v e “ M ari e l bri n gs h e r un iq ue p e rsp e ctiv e a n d e xp e rtis e t o th e tabl e H e r a u th en ticity, warmth, a n d b u bbly p e rs on a hav e en d e ar e d h e r a u di en c e s, maki n g h e r a tr u st e d s ou rc e o f i n spirati on f o r h o m e mak e rs e v e rywh e r e ” shar e s M ich e ll e Ng u -

C i n c o , C OO o f C HERRY “W e all k no w that sh e l o v e s pr e pari n g a n d c oo ki n g f o r h e r l o v e d one s, a n d w e hav e ou r kitch en pr o d u ct li ne u p f o r that

C on s e c u tiv e ly, w e w ou ld lik e h e r, a n d e v e ry one as w e ll, t o e xp e ri en c e th e c on v en i en c e a n d s e c u rity o f u si n g C HERRY smart h o m e d e vic e s, e sp e cially with th e b u sy sch e d u l e ,” adds Ng u - C i n c o A n artist by h e art, a m o m s e t f o r lif e That is what Filipi no s hav e capt u r e d thr ou gh th e lif e o f M ari e as sh e c on ti nue s t o thriv e n th e gr o wi n g i n d u stry o f en t e rtai n m en t a n d b u si ne ss Bu t, as a m o m, cha n g e is a c on sta n t f e ar Tha n kf u lly, M ari e is d e t e rmi ne d t o sh o w that h o m e maki n g is no t j u st a r ou ti ne o f tasks b u t a n art f o rm craft e d with l o v e car e , a n d pr o t e cti on —a q u ality that e v e ry m o m has With this, sh e c on ti nuou sly d e liv e rs h e r un iq ue appr o ach, shari n g n sights a n d tips on th e h o w-t o’s o f b e i n g a s u p e r m o m “I am tr u ly grat e f u l a n d e lat e d t o b e part o f th e C HERRY family A s a n O.A. o r ‘ O v e r A laga’ m o m a n d wif e , I’m s o e xcit

Editor: Tet Andolong

usinessMirror ine

Sta. Lucia raises the bar in seaside living

By Rizal Raoul S. Reyes

THE municipality of Nasugbu, Batangas is known as a lovely diving spot and home to a number of pristine beaches. Moreover, Nasugbu has a lot of natural land resources like mountains, hills and farmlands. Among the major sites in Nasugbu are Mount Batulao, Mount Talamitam, Fortune Island and Bituin Cove.

If you are looking forward to enjoying the serenity and the natural beauty of Nasugbu, Sta Lucia Land Inc. (SLLI) is currently developing El Sitio Nativo, a rising picturesque coastal community that will provide a high degree of privacy and luxury. With its exhilirating sea views and low-density development, residents can only expect a peaceful and harmonious environment that SLLI says will set a new standard for luxury coastal living. “This latest development from Sta. Lucia Land is a testament to our commitment to create communities that uplift lives, fuel the countryside, and deliver the Sta. Lucia Land brand of living to our homebuyers. We see the value of developing properties in areas such as Nasugbu which is considered as a tourism zone. With only 92 lots on offer, El Sitio Nativo promises unmatched exclusivity and unparal-

leled lifestyle to future residents,” explained Sta. Lucia Land Inc. President Exequiel Robles said in a press statement.

“We believe that El Sitio Nativo is something that our discerning homebuyers need as it combines the beauty of countryside living with modern conveniences. And as with every Sta. Lucia Land development, this project is planned and designed with the comfort, convenience and satisfaction of future homeowners in mind,” Robles added.

Construction for this idyllic getaway is now underway, following its ceremonial groundbreaking held on May 18, 2024. The capsule laying ceremony was led by Nasugbu Mayor Antonio Jose Barcelon, and Mr. Exequiel Robles. Also present at the event were Gloria Angara, Jaime L. Aguila, Arch. Roland Polendey, and Engr. Joe Katigbak.

In its commitment to sustainability, tree planting initiative capped off the event—a move that allowed Sta. Lucia Land to showcase its commitment to continuously care for the

land where its projects are located.

“El Sitio Nativo is your idyllic escape—just less than a hundred kilometers south of Manila and easily reached via the Cavite-Laguna and Cavite-Tagaytay-Batangas expressways. It’s an ideal investment for those wanting to escape the hustle and bustle of city living yet cannot afford to give up modern conveniences

By Roderick L. Abad

WITH its aggressive expansion and continuous investment in the Philippines, Vertiv has opened its new offices at the SM Mega Tower building in Mandaluyong City, which will house its more than 1,200 local workforce, supporting the company’s domestic, regional and global operations.

Designed with modern amenities and a “glocal” environment, the new sites span over 8,000 square feet across four floors complete with amenities, including flexible workspaces, focus areas and wellness rooms, as well as an open office concept that encourages productivity and collaboration among employees.

“We designed the Vertiv Manila offices to be open and dynamic to inspire our employees and encourage them to be energetic and creative when at work. We understand that the commute and time spent on computers and in meetings can be taxing for our staff. The amenities we have included in our office design will hopefully give our employees a boost and an overall positive environment where they can grow both at a professional and personal level,” said David Yao, general manager, Global Regional Operations Center (GROC), Vertiv.

“We understand that returning to the office can be challenging for some and our open office concept, lounge spaces and focus rooms will give our employees some benefits not found in typical offices or even at home,” he added.

Constant investment

GIVEN the rise of digitalization, the Philippines has seen the growth of

data centers not only in Metro Manila, but also in other parts of the country that have been experiencing rapid progress and development. These hubs are specialized facilities that house computer systems and related components, providing storage, processing, and distribution for large amounts of data.

“We are seeing a very big opportunity in the data center investments coming into the country,” Vertiv Sales Director Pamela May Lagra Albar told reporters in a briefing during the official opening of their new facilities last May 28.

The global provider of critical digital infrastructure and continuity solutions has invested in a significant expansion in the country post-pandemic. From a manpower of over 700, it has quickly scaled to more than 1,200 employees in recent years.

“The choice to increase this team reflects on the strong skillset of the Filipino workforce. Here at Vertiv Manila, we are proud to be glocal’. Not only do we cater to Philippine customers through Vertiv Philippines, but we also work with key stakeholders and

customers across the regions of Asia Pacific, North America and Europe,” noted Yao.

Also located within the SM Mega Tower is Vertiv’s modern Customer Experience Center (CEC) and the Vertiv Academy, giving customers the chance to have a hands-on experience of its products and technologies, guided by local technical experts.

“We are excited to open the doors to our CEC and the Vertiv Academy to our Philippine customers,” said Albar. “Recently, we have seen strong interest among various sectors, particularly on how to build future-friendly critical infrastructure amid the proliferation of Artificial Intelligence [AI] and 5G. We can’t wait to welcome our customers to our facilities.”

Present during the inaugural activities were David Fallon, chief financial officer, Vertiv; Cheryl Lim, chief human resources officer, Vertiv; Alexis Ortiga, vice president and head of SM Offices, SM Prime Holdings Inc. (SMPH); and Maricris Cruz, regional accounts manager, SM Offices, SMPH.

“SM Offices is proud to have Vertiv call SM Mega Tower home’. This new

facility is a testament to our shared vision of pioneering office environments that are not only functional but also inspiring and conducive to the modern demands of convenience, collaboration, and a human-centric approach to workplace design,” said Ortiga.

“The pandemic has certainly transformed the way we look at the physical office and it is our goal here at Vertiv to encourage flexible and comfortable working spaces. With these amenities, we hope to also attract the best local talent to grow our business operations,” added Yao.

Bullish outlook

THE multinational is listed in New York Stock Exchange, which grew by 20 percent last year, Fallon disclosed.

“When we look at growth, we anticipate to grow on an annual basis somewhere between 8 and 11 percent per year over the next five years. If you speak with one of our analysts and some of the industry analysts, they would probably say that is conservative,” he said.

Speaking for the Philippine operations, Albar cited a 30-percent growth in revenues for 2024, just the same as last year, amid the rise of data center investments in the country.

“So, what we would like to do is to make sure that we use this opportunity to bring forward some of the industry-leading innovations that we have, in terms of our solutions also, to make sure that our customers will be able to experience them,” she said.

Vertiv is present in 130 plus countries and has 3,000 service engineers worldwide. It serves over 2,000 customers in telecommunications, and business processing outsourcing in the Philippines.

because that is what El Sitio Nativo is—a fusion that delivers the best of both worlds,” Robles shared.

SLLI is leaving no stone unturned to give Sitio Nativo an environment that has luxury, as manifested by the lush landscaping at the main entrance, which will introduce a community that showcases a unique blend of Filipino, Malay, Polynesian and Pacific archi-

tecture design elements.

Specifically, the streets of El Sitio Nativo will be lined by exquisitely designed houses that will feature vibrant terracotta tiles and colorful facades, reminiscent of the colonial past. At the same time however, smart home innovations have been integrated in the community.

Future residents of El Sitio Nativo will achieve a holistic lifestyle, as SLII will provide the various amenities like a swimming pool, health and fitness center, children’s playground, picnic grounds, veranda, function hall and a community clubhouse among others. Thus, El Sitio Nativo will enable future residents to indulge in an unmatched lifestyle—one that is centered on comfort, bliss and serenity.

“El Sitio Nativo will allow future residents to create beautiful stories about their home and their loved ones. It will serve as a blank canvas where strokes of great memories and unmatched experiences will be created. Their El Sitio Nativo homes will serve as a testament to a great life that they have yet to experience,” Robles concluded.

t o p l ac e, c o m p le ti n g th e b u l di n g s f ra m e. I t is at this p o i n t that A m aia St e ps P asig a ll 4 6 4 un its o f it p lu s its a m en iti e s m a y b e f ull y appr e ciat e d b y pr o p e rt y s ee k e rs a n d w h en its b u y e rs a n d i nve st o rs m a y loo k f o r w ard t o m ov i n g i n t o th e ir dr e a m ab o d e s T h e f o rt un at e lo t w h o ha ve i nve st e d i n A m aia St e ps P asig ’s Cl ara Bu i l di n g m a y e xp e ct th e f ul f i ll m en t o f th e ir aspirati on s as th e y cr e at e a v ibra n t c o mm un it y Lo cat e d i n th e b u st l i n g ne ighb o rh oo d o f Eu s e bi o Str ee t i n B ara n ga y M ig uel, P asig

EL Sitio Nativo welcomes residents with lush landscaping and exquisitely designed houses.

EL Sitio Nativo’s clubhouse will allow residents to enjoy the beauty of countryside living without needing to give up on modern conveniences.

GROUNDBREAKING. (From left) James Aguila—President, SLLI Global

BRIANNA MACASAET came up with another solid round, firing second straight 81 to rule the girls’ 8-10 division of the Junior Philippine Golf Tour Luzon Series 3 at the Pinewoods Golf and Country Club on Tuesday in Baguio City.

Macasaet won her debut in the ICTSI-sponsored series by demonstrating remarkable consistency on a challenging layout, claiming a 16-stroke victory with a 162 total.

Pradera Verde leg winner Georgina Handog rallied with an 83, highlighted by an eagle-3 on the 10th hole, to finish second with a 178. Casedy Cuenca placed third with a 189 after a 96.

“I’m proud of my game. This is fun. I got to improve on my skills by playing on a challenging course with many turns and bunkers,” said Macasaet, who relied on her long game and excellent pitching to dominate the field.

Jose Luis Espinosa also turned the final round of the 36-hole competition into a victory march, closing with an 87 to finish 23 strokes ahead with a 175 total. Z oji Edoc who assembled a 198 after 100, while Kevin Tecson placed third with a 201 after 105 in the youngest category of the three-division series organized by Pilipinas Golf Tournaments Inc. Espinosa, who led Tecson by eight after the first 18 holes, played pressure-free as his competitors struggled on the demanding course.

“It’s a good experience playing in JPGT. With a happy mindset, I think I’ll do better in the next tournaments,” Espinosa said.

In the 15-18 category, Rafa Anciano surged to a three-stroke lead in the girls’ division with a 179 after an 87, thanks to a pivotal birdie on the last hole, the par-3 No. 9, for a huge three-shot swing.

Montserrat Lapuz, initially tied with Anciano, slipped to second place after a double-bogey on the ninth for a 92 and a 182, while Chloe Rada made it a three-way contest with a 183 after an 89.

Anciano credited improvements in her short game and putting, emphasizing her caddy’s role in reading the sidehill birdie putt on the last hole from an elevated mound. With a better understanding of the demanding layout gained over the past two days, she expressed confidence in her approach for the upcoming rounds, saying: “I know the course better now and feel prepared to tackle its challenges.”

Tristan Padilla, on the other hand, led the premier boys’ division despite a 78 for a 150.

Charles Serdenia shot a 75 to stand two strokes back, while Mark Kobayashi was third at 155 after a 76.

By Josef T. Ramos

ANN Y PACQUIAO’S last dance must be in Las Vegas—not anywhere else. Pacquiao earlier confirmed during an exhibition promotion fight in Tokyo, Japan on Monday evening that a title bout—a farewell bout three years since his retirement—against American Mario Barrios is now under negotiation.

Sean Gibbons, the president of the MP promotions, is hoping to bring Pacquiao’s final professional fight in Las Vegas as early as August, but likely to be held around September or October after his three-round exhibition bout against Japanese mixed martial artist Chihiro Suzuki on July 28 in Shibuya, Japan.

“I think that would be the place. Las Vegas is definitely the place with the Benjamins,” Gibbons, an international matchmaker, told BusinessMirror on Tuesday. Gibbons added that the exhibition fight of the 45-year-old eight-

SENATE President Pro Tempore

Jinggoy Ejercito Estrada has

filed a resolution commending and congratulating Alas Pilipinas for bagging the historic bronze medal in the 2024 Asian Volleyball Confederation (AVC) Challenge Cup for Women, the first national team to reach the semifinals in the said competition in 63 years.

“The entire nation celebrates their historic victory on the global stage, exemplifying the exceptional caliber, grit, and teamwork of Filipina athletes. As representatives of the Filipino people, it is appropriate and befitting that the Senate extends its commendation to the extraordinary Filipina volleyball players who brought immense pride, prestige, and honor to the country,” Estrada said in his Senate Resolution No. 1046.

Despite limitations in preparation time and resources, Alas Pilipinas staged an incredible feat of winning

five out of its six matches across the grueling eight-day competition and delivered an admirable achievement that the Philippines has not accomplished in the AVC competition.

The Senate leader noted that head coach Jorge Edson Souza de Brito had barely two weeks to assemble and train the national squad for the competition held in Manila from May 22 to 29.

Yet, Estrada said, the crew, composed of team captain Julia Melissa Morado de Guzman, Cherry Ann Rondina, Jennifer Nierva, Dawn Nicole Macandili-Catindig, Ejiya Laure, Faith Janine Shirley Nisperos, Mereophe Sharma, Vanessa Gandler, Dell Palomata, Cherry Rose Nunag, Anne Angel Canino, Julia Cyrille Coronel, Thea Allison Gagate, and Arah Ellah Panique, managed to pull off an outstanding performance, a big leap from its previous seventh place standing when the Philippines debuted in the AVC Challenge Cup in 2023.

Pacquiao’s farewell fight must be in Vegas–Gibbons

division world champion against the 25-year-old current Rizin Fighting Federation featherweight champion is a great timing for his farewell pro bout to enhance his skills and regain his timing.

“Absolute perfect timing for Manny [Pacquiao] to do his preparation. But if it’s going to be Mario Barrios, it must be signed or done after by the time of the exhibition. Everything should be signed and I’m also hopeful about that,” he added.

Barrios, 29, who holds a 29-2 record with 18 knockouts is a tough farewell match for Pacquiao (62-8-2 win-loss-draw record with 39 KOs).

Barrios, however, lost to Keith Thurman in February 2022 via unanimous decision and unified world lightweight champion Gervonta Davis in June 2021.

Pacquiao said his mind right now is focusing on Suzuki and not Barrios.

“We are still under negotiation. The fight does not materialize yet,” Pacquiao, the former senator, told reporters in Japan. “But my mind right now is

on Suzuki. That’s not going to be an exhibition fight. It’s going to be a real fight, a three-rounder.” Pacquiao’s last professional bout was against Cuba’s Yordenis Ugas in August 2021 before announcing his retirement. Ugas won by unanimous decision. After losing the presidential election in May 2022, Pacquiao fought in an exhibition boxing bout against Korean

Cup.

“San Miguel Beer is very capable of coming back and we know they have been down before. As for us, we believe we can play better, and we’ll be ready for Game 4,” Trillo said.

Chris Newsome agreed with Trillo’s sentiments, saying that they are facing the current best team in the PBA.

“ You are going up against San Miguel Beer, the best team of the decade. They have been through a lot of series so it’s tough,” Newsome, the Meralco Game 3 hero, said. “They are going to be hungry.” Newsome posted 26 points including the go-ahead three-pointer and the two free throws that sealed Meralco’s victory last game.

Josef T. Ramos

De Guzman, Albo rule Philippine Badminton Open

MIKA DE GUZMAN retained the women’s singles title by turning back Ysabel Amora, 21-11, 14-21, 21-8, in the 2024 Philippine Badminton Open on Tuesday at the Gameville Ball Park in Mandaluyong City.

“The mental and physical preparation for this tournament was very important. I thank all my coaches for the support,” De Guzman, who trains under Joper Escueta, Kenneth Monterubio, Ariel Magnaye and Kennie Asuncion-Roble, said.

supporting the national team and to our coaches who helped us get the wins,” added the incoming Ateneo senior, a threetime UAAP MVP. Jelo Albo of PBad Smash Pilipinas, defeated Clarence Villaflor of CadizJBA/Apacs in the men’s singles final, 21-13, 219, taking the

win in 47 minutes. Lea Inlayo and Nicole Albo defended the women’s doubles title, defeating UP’s Kimberly Lao and Patricia De Dios, 21-12, 21-7. In men’s doubles, Ariel Magnaye and Christian Bernardo clinched the title after a

bizarre turn of events in the third game when reigning champions Solomon Padiz Jr. and Julius Villabrille decided to retire following a disputed line call. Magnaye, head coach of the national team, and Bernardo led, 22-20, 15-21, 20-17, when their rivals pulled out of the tournament backed by Smart, Mizuno, the Philippine Sports Commission, MVP Sports Foundation, Jollibee, Chowking, First Pacific Leadership Academy, Maynilad, MWell and Cignal.

“I’m really happy that I really won again in this PBO. I would like to thank sir MVP [Manny V. Pangilinan] for

ammunition to go all the way?

The way they’ve been playing in the first three games, the Bolts kicked asses as though they were the prohibitive favorites. How come they were able to make the San Miguel Beermen their virtual punching bags in a series seen as another forum for SMB to flaunt its vaunted firepower?

But the Bolts bared big knuckles to turn things around—spectacularly.  They won Game 1. They lost a won-game in Game 2. They won Game 3. As a result, the Bolts now hold a handsome 2-1 edge over the Beermen in their ongoing best-of-seven Finals in the Philippine Basketball Association (PBA) Philippine Cup. They play Game 4 today, Wednesday, at Smart Araneta Coliseum, and there’s no doubting the fact that the odds are now heavily stacked in Meralco’s favor.

No way that the bulk of fans would side with San Miguel; only those brandishing placards with the words “Fear The Beer” are expected to bare their fangs in lustily rooting for SMB—but, of course. San Miguel owns a record 29 PBA titles. And, if there’s an ample reason for PBA Commissioner Willie Marcial to be proud of, it is that SMB’s perceived power appears swimming in perilous waters. At least that’s what the first three games of the series