BusinessMirror June 22, 2022 by BusinessMirror

Prices of some foods to rise as peso weakens By Jasper Emmanuel Y. Arcalas @jearcalas

ILIPINO consumers will have no choice but to bite the bullet as prices of certain food items may continue to increase due to the weakening peso. Agriculture Undersecretary Fermin D. Adriano said our imported food products would become “more expensive” due to peso depreciation. And since we are importing a lot of food products, it would be quite “painful” to Filipino consumers, Adriano added. The local currency breached the P54 to a dollar territory on Monday, hitting its weakest level in about four years. The peso closed at P54.265 against the greenback on Tuesday from P54.065 last Monday.

Adriano said importing food products is a “painful” but “necessary” decision for the government to temper domestic prices due to local supply shortages. “It is really painful. It means we will pay higher prices. But we have to [do it] to temper local prices because we have supply shortages,” he said in an interview on Tuesday. Adriano listed the commodities that the country has no choice but to depend on foreign suppliers for, in order to boost its domestic stocks: sugar, corn, captured fisheries, feed wheat, and pork. Adriano noted that local pork prices remain elevated in the vicinity of P400 per kilogram while sugar prices have soared past P80 per kilogram. Some industry leaders have also

noted that raw materials for livestock and poultr y production as well as for the f lour industry would become more expensive due to the continuous depreciation of the peso. “We will be paying more pesos for every ton of wheat we import. Add to that the rising freight costs,” explained Ric Pinca, Executive Director of the Philippine Association of Flour Millers Inc. “Imported feed raw materials will be more costly. So will breeders and hatching eggs,” according to Elias Jose Inciong, President of the United Broiler Raisers Association. The country’s key agricultural imports in the first quarter were wheat at $136.57 million, dairy products at $124.87 million, rice at $113.92 million, fruits and vegetables at $91.92 million, urea at $11.95 million, and

fertilizer excluding urea at $36 million, among others, based on Philippine Statistics Authority (PSA) data. Last year, the country’s top agricultural imports were cereals ($3.147 billion), residues and waste from the food industries; prepared animal fodder ($1.885 billion), miscellaneous edible preparations ($1.764 billion), meat and edible meat offal ($1.694 billion) and animal or vegetable fats and oils ($1.526 billion), PSA data showed. Last month, experts interviewed by the BusinessMirror pointed out that a weaker peso will benefit the country’s agricultural exports but will be a bane to Filipino consumers as prices of imported food items increase. (Related story: https://businessmirror.com. ph/2022/05/10/weak-peso-dealsagri-double-edged-result/)

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DOLLAR DEBT PAYMENTS SWELL MAY BOP TO $1.6B n

By Bianca Cuaresma

BBM at DA is ‘best’ for PHL farmers, fishermen

@BcuaresmaBM

HE Philippines lost more than a billion dollars in its transactions against the rest of the world in May this year, due largely to foreign currency debt repayments during the month. The Bangko Sentral ng Pilipinas (BSP) reported on Tuesday that the country’s balance of payments (BOP) hit a deficit of $1.61 billion in May this year, about four times the deficit seen in the previous month of $415 million. The May deficit is also larger than the $1.34-billion deficit seen in the same period last year. The BOP is usually considered as an important economic indicator in an economy as it shows the level of earnings or expenses of the Philippines in its transactions with the world. A deficit means that the country had more dollar expenditures than its dollar earnings during a given period. “The BOP deficit in May 2022 reflected outflows mainly from the National Government’s [NG] foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations and pay for its various expenditures,” the Central Bank said in a statement. May’s deficit brought the cumulative BOP level for the first five months of 2022 to a $1.53-billion deficit, lower than the $1.63-billion deficit recorded in the same period a year ago. “Based on preliminary data, this cumulative BOP deficit reflected the trade in goods deficit,

Metropolitan Manila Development Authority Chairman Romando Artes conducted an ocular inspection at the damaged portion of Timog Flyover Southbound in Quezon City on Tuesday (June 21, 2022). DPWH announced the total closure of the fly-over (Southbound) for a period of one month starting June 25 to give way to the ongoing construction works. NONOY LACZA

PHL EXIT FROM LOW-RATE REGIME TO BE ‘GRADUAL’ By Cai U. Ordinario @caiordinario

HE Philippines’s ex it from the low-interest rate regime will be gradual and the Bangko Sentral ng Pillipinas (BSP) intends to make sure this strategy will not stoke inflation or other risks that could imperil the economy. In a podcast interview with

the Tokyo-based Asian Development Bank Institute (ADBI), Central Bank Governor and Finance Secretar y-designate Benjamin E. Diokno said this requires “a well-planned, wellcalibrated, and well-communicated exit strategy.” Adopting this, Diokno said, will avoid causing volatility, reduce spillovers, and continue the Philippine economy’s

r e c o v e r y m o m e nt u m . T h e Monetary Board last month dec ided to ra ise t he BSP ’s overnight reverse repurchase facility by 25 basis points to 2.25 percent. (Full story here: https://businessmirror.com. ph /2022/05/19/ bsp-deals25-basis-points-rate-hiketo-curb-inf lation/) “As the economy recovers and gradually returns to nor-

malcy, the BSP is mindful that the extraordinar y measures will need to be scaled back. The timing and conditions of the BSP’s exit strategy will be guided by the inflation and growth outlook over the medium term, the state of public health, and domestic and global risk to the economy,” Diokno said.

HE Department of Agriculture (DA) may now get a hefty budget under the leadership of President Ferdinand R. Marcos Jr., industry leaders and former agriculture secretaries said. Leaders from food production to processing groups have thrown their support behind Marcos Jr.’s plan as the sitting secretary of the DA, saying the agriculture sector will now be given its “much needed” attention. Two former agriculture secretaries—Emmanuel F. Piñol and Leonardo Q. Montemayor—and outgoing Agriculture Secretary William D. Dar pointed out that Marcos Jr.’s decision would be the “best” for Filipino farmers and fishermen. “We see this pronouncement as a victory of the Department of Agriculture in rousing broad public support towards the sector’s rehabilitation and empowerment,” Dar said in a press briefing on Tuesday. “We are heartened, moreover, by the statement of the President, placing agriculture as top governance and budgetary priority. Thus, we expect to see a bigger budget for the Department of Agriculture in the years to come,” Dar added.

See “BSP,” A2

See “BOP,” A2

PESO exchange rates

See “DA,” A2

n US 54.0050 n japan 0.3998 n UK 66.1723 n HK 6.8797 n CHINA 8.0702 n singapore 38.9029 n australia 37.5389 n EU 56.7809 n SAUDI arabia 14.3933

Source: BSP (21 June 2022)

BusinessMirror

Wednesday, June 22, 2022

‘Strong fundamentals make PHL stronger against shocks’ By Bianca Cuaresma

@BcuaresmaBM

HE Philippines is in a “significantly different” situation than the rest of the world in dealing with global shocks due to its strong fundamentals, the Financial Stability Coordination Council (FSCC) said in its recent report published on Tuesday. Bangko Sentral ng Pilipinas Governor and FSCC Chairman Benjamin Diokno said their assessment of the country’s financial stability showed that the Philippines is in a “position of strength” to handle the “fastevolving shocks” in the global market. “The Q1 2022 year-on-year GDP growth of 8.3 percent

reflects a trajectory that is markedly different from the prognosis [of multilateral agencies] for 2022 global growth,” Diokno said. “Our growth is driven by current purchasing power as well as by economic investments for the future,” he added. For purchasing power, Diokno said consumption expenditures

per person in the first quarter of 2022 are now higher than the comparative figure in March 2020 when the country began to face the challenges from Covid-19. “This is supported by the recovery in employment, with a labor participation rate of 63.4 percent and an employment rate of 94.3 percent,” the governor said. For economic investments, Diokno said they expect the productive capacity of the country to have been enhanced with growth in fixed capital formation. “This mirrors the expansion in the industry sector, particularly in manufacturing and construction, which grew by 10.1 and 13.5 percent, respectively. Economic activity in utilities, which is a direct indicator of demand, likewise grew by 5.8 percent in real terms,” Diokno said. FSCC, however, still cited external risks that may affect the economy, particularly citing two key developments: repricing

risks and developments in the oil market. According to the Council, these risks have far-reaching consequences because they may affect leverage, liquidity, the macroeconomy and the country’s climate change initiatives. Diokno said rising inflation in advanced economies has led their central banks to raise policy rates to temper economic activity. This is not the situation in many emerging markets, but the rate increases are expected to spill over to the rest of the world. “Rising interest rates benefit savers and those who wish to invest in financial instruments, but this gain will be met by higher costs for borrowers, covering households, businesses, and the government. Those holding marketable assets will also experience a revaluation loss,” the governor said. “Oil is another challenge, and its effects are evident in rising pump prices. While this is raising domestic inflation, the issue is not typically addressed by monetary tools,” he added.

BSP. . . Continued from A1

“The BSP will commit to exiting when it begins to see evidence of sustainable recovery and/or increased risk of inflation. And we have started our exit,” he added. Diokno also said policy normalization will not limit the ability of financial institutions to offer green and sustainable finance. He said the BSP encourages green and sustainable finance instruments. The BSP, he said, has the sustainable finance framework which is meant to support economic activities, especially those that can help reduce the ill effects of climate change and increase environmental risks. “While the Philippines is on track to achieving full economic recovery in the near term, we must all collectively continue to work together to overcome current and emerging challenges. Now, more than ever, we must put a premium on stronger international cooperation to achieve our vision of a green, resilient, and inclusive global economy,” Diokno said. The BSP said the reform of the Philippine tax system was the primary factor for the country’s ability to recover from the crisis while maintaining strong macroeconomic fundamentals. Diokno said the reformed tax system placed the country in a better position to address Covid-19 and face the challenges of a post-pandemic recovery. “Before the crisis, we simplified the tax structure, rationalized fiscal incentives, reduced personal income tax rates, and increased taxes on oil, cigarettes, and sweetened beverages,” Diokno said. “[Also key is a] stable banking system which benefited from regulatory reforms over the years remained able to provide credit to consumers and businesses,” he said. Diokno said for its part, the BSP injected over P2.2 trillion or $41.9 billion into the financial system. This is equivalent to 11.2 percent of the GDP. The BSP, he said, also placed regulatory and operational relief measures for banks, helping maintain the stability of the financial system by ensuring the public’s continued access to financial services.

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DA. . . Continued from A1

Industry leaders and the former secretaries said Marcos Jr. can now easily increase the DA’s budget and “prioritize” domestic production, particularly developing local industries and boosting farmers’ income. “At long last, the sector will get the support it needs. With [Marcos] Jr. as DA [secretary], who’s the congressman or senator who will block his programs?” Piñol said, partly in Filipino, on Tuesday. Montemayor said one of the priorities of Marcos Jr. as agriculture chief is to increase “substantially” the DA’s budget “to stimulate domestic production and farm productivity.” “We believe that the President, sitting as the agriculture chief, has the political and economic capital to respond to the problems affecting the country’s food supply,” Philippine Association of Meat Processors Inc. President Felix Tiukinhoy Jr. Rolando Tambago, president of the Pork Producers Federation of the Philippines Inc., said Marcos Jr. sitting as the agriculture chief can “easily” influence the department’s bigger budget so as to bankroll projects for food sufficiency and security amid the looming global food crisis. Dar earlier said the DA’s budget could be doubled or even tripled to a level beyond P100 billion under Marcos Jr.’s administration since the sector is one of his “topmost” priorities. “We should focus on increasing local production; this is the only way we can compete with imported products,” National Federation of Hog Farmers Inc. President Chester Warren Y. Tan said. Philippine Chamber of Agriculture and Food Inc. President Danilo V. Fausto said the industry can now heave a sigh of relief that domestic food production, logistics and even value chain “will be given priority” in the new administration. Dar did not mince words in saying that Marcos Jr., as an agriculture chief, will face humongous problems regarding the country’s food supply and prices amid the ongoing global food crisis. (Related story: https:// businessmirror.com.ph/2022/06/16/phl-nowfeeling-impact-of-food-crisis-da-chief/) “More than 20 countries have made restrictions on the exports of their food products, and the lingering war in Ukraine continues,” he said. “So, there is really major disruption of the food supply chain. And so this is a big big problem. If I have to equate this, this is like a pandemic as well,” he added. In a press conference on Monday, Marcos Jr. announced he decided to oversee the DA personally so as to carry out reforms in the agency to help ensure a stable food supply amid disruptions in the international supply chain. (Related story: https://businessmirror. com.ph/2022/06/21/bbm-to-take-over-dapostamid-steady-food-price-hikes/) “I think it is important that the President take that portfolio…not only to make…clear to everyone the high priority we put in the agricultural sector, but also as a practical matter so that things move more quickly because the events of the global economy are moving very quickly,” Marcos said. Jasper Emmanuel Y. Arcalas

BOP. . . Continued from A1

which was partly offset by inflows such as from personal remittances, net foreign borrowings by the NG, foreign direct and portfolio investments,” the BSP said. Just last week, the BSP said the country’s overall BOP is expected to register a widerthan-expected deficit due to the buildup in external risks. The emerging 2022 overall BOP position is projected to post a higher deficit of $6.3 billion from the previous forecast of a $4.3 billion deficit. “The emerging BOP outlook for 2022 and 2023 remains quite circumspect in view of the recent buildup in external risks. Of note is the downgraded global growth outlook following the escalation of the Ukraine-Russia conflict and its international ramifications, most notably the increase in food and fuel prices,” the BSP earlier said in a statement. “The anticipated slowdown of China’s economy could also put pressure on trade prospects. Meanwhile, capital flows could be particularly volatile following the abrupt monetary policy normalization in the US and in other major economies,” it added.

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Editor: Vittorio V. Vitug • Wednesday, June 22, 2022 A3

NCR Covid-19 infection rate seen rising to 1K cases per day in July

By Samuel P. Medenilla

@sam_medenilla

HE rate of Covid-19 infection in the National Capital Region (NCR) has further accelerated and may reach 1,000 cases per day by next month, according to an independent think tank.

In a televised interview on Tuesday, OCTA Research Group fellow Guido David said current indicators

show the positivity rate, or the percentage of people who were found to be infected among those who were

tested, rose to 4 percent from 2.7 percent last week. Likewise, he said the reproduction rate or the rate of how an infected person transmits the disease to other people also rose from 1.59 percent last week to 2.05 percent. “So the infection rate is accelerating,” David said. He noted the figures could now lead the current 225 average daily cases to reach 500 to 1,000 cases by the end of June or by the first or second week of July. “If that is the case, we can say the situation [in NCR] to reach moderate

SC asked to block Guanzon’s bid for party-list seat in lower house By Joel R. San Juan @jrsanjuan1573

HE Duty to Energize the Republic through the Enlightenment of the Youth, or Duterte Youth party-list, filed on Tuesday a petition before the Supreme Court seeking to block former Commission on Elections (Comelec) Commissioner Rowena Guanzon from assuming his seat as P3PWD party-list representative in the House. In a 21-page petition filed by Duterte Youth Rep. Marie Cardema and Chairman Carlo Cardema, the petitioners also sought the issuance of a temporary restraining order (TRO) and/or preliminary injunction directing the respondent Comelec

to refrain from issuing a certificate of proclamation to the substituting nominees of P3PWD led by Guanzon. The petitioners said the TRO should also enjoin the House of Representatives from allowing Guanzon and substituting nominees from assuming as members of the lower house. Aside from the Comelec and the House, also named as respondents were P3PWD party-list and its nominees led by Guanzon. The petitioners are also asking the SC to annul the resolution issued by the Comelec approving the “illegal” and “belated” substitution of P3PWD’s nominees last June 14, 2022. The Comelec resolution, according to the petitioners, was issued in violation of Comelec promulgated

rules on party-list substitution since it was made after the elections. The petitioners noted that under Comelec Resolution No. 9366 promulgated in 2012 as amended by Resolution No. 10690 on January 27, 2021, the withdrawal of nominations and substitution of nominees due to withdrawal shall be made not later than November 15, 2021. “In this case, it is clear that the submission of resignation and withdrawal by the original nominees and certificates of nomination and acceptance of nomination of P3PWD’s new set of nominees on June 14, 2022 is in violation of the deadline set by the Commission’s own promulgated Resolution No. 9366, as amended by Resolution No. 10690,” the petitioners pointed out.

risk,” David said. “It might take until the end of July before the wave [of infections] end so we have to manage it,” he stressed. Despite the rise in active cases in NCR, David said they do not foresee the health-care facilities in the region being overwhelmed. Aside from NCR, David said they also observed similar rising infection incidents in the provinces of Cavite, Laguna, Rizal, Benguet and Iloilo. “It’s probably just a matter of time for other provinces to also register a rise in cases,” David predicted. David said they hope their pro-

jection will be able to raise public awareness on the said matter. “Raising the alert level will be based on the decision of the IATF [Inter-Agency Task Force for the Management of Emerging Infectious Diseases] and DOH [Department of Health] and they have metrics for that,” David said. “What we want is to raise awareness on rising cases, not necessarily alert levels. We have to raise awareness so we can adjust our behavior accordingly,” he added. Acting Presidential Spokesman Martin M. Andanar reminded the

public to comply with minimum health standards, which includes wearing of face masks, social distancing and frequent washing of hands. “It’s inevitable to be in crowded areas because the economy is open, you just really have to be careful,” Andanar told reporters in an ambush interview on Tuesday. “We have to be careful since it is not only in the Philippines [where there are rising infections] but also in Taiwan and other countries. It’s bound to happen because of the reopening of the economy,” he added.

PRC prepared to deal with possible coronavirus surge, Gordon assures By Claudeth Mocon-Ciriaco @claudethmc3

HE Philippine Red Cross (PRC) has assured the public that the organization is prepared for a possible Covid-19 surge after the Department of Health recorded 3,051 cases from June 13 to 19, or an 82 percent jump compared to the previous week. PRC Chairman and CEO Sen. Richard J. Gordon said that 14 molecular laboratories

would remain operational across the country. Gordon also urged the public to get tested promptly for early detection and prevent the further transmission of the virus. He also encouraged the public to get vaccinated or avail of a booster shot for added protection. He noted that the PRC also continues to support the government’s vaccination efforts through its 17 Bakuna Buses, 26

Bakuna Centers, and 24 Bakuna Teams to the LGUs. “Sa lahat ng panahon, ginagawa namin sa Red Cross ang lahat para maging laging una at laging handang tumugon sa panahon ng kalamidad at sakuna [At all times, we at Red Cross, is doing everything to be always first, always ready to help during calamities and disasters],” Gordon said. To book a RT-PCR test, the PRC said that the public can go to https://redcross.org.ph/

A4 Wednesday, June 22, 2022 • Editor: Vittorio V. Vitug

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Machines one of main causes of work-related injury at job site By Cai U. Ordinario @caiordinario

ACHINES intended to make life better for people are among the main causes of occupational injuries in the workplace, according to data released by the Philippine Statistics Authority (PSA). Based on the results of the 2019/2020 Integrated Survey on Labor and Employment (ISLE), PSA said injuries caused by being caught by or in between objects accounted for 28.5 percent of the total cases with workdays lost. Other top causes of injury included stepping on, striking against or struck by objects, excluding falling objects at 22.1 percent and falls of persons at 15.4 percent.

“Occupational injury is an injury which results from a workrelated event or a single instantaneous exposure in the work environment [occupational accident],” PSA said. Due to work-related injuries, PSA data showed workers’ wrists and hands were greatly harmed in these incidents. Hands and wrists accounted for 39.8 percent of the most injured part of a worker’s body. This was followed by lower extremities at 15 percent and head at 11.9 percent of body parts that were most injured during incidents. PSA said plant and machine operators as well as assemblers accounted for 33.7 percent of workers who were considered most prone to these injuries.

“Elementary occupations and service and sales workers were also at high risk with 17.2 percent and 13.8 percent of the total occupational injuries, respectively,” PSA added. A total of 37,513 occupational accidents were reported in all industries in the Philippines in 2019. Around 10.9 percent or 4,186 of the total 38,305 establishments employing 20 or more workers experienced work-related accidents. These occupational accidents resulted in roughly 40,892 cases of occupational injuries in 2019. Both the number of occupational accidents and cases of occupational injuries contracted 1.9 percent and 11.6 percent, respectively, when compared with 2017 data. Among cases of occupational in-

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Mandaluyong City gets highest COA audit rating By Claudeth Mocon-Ciriaco @claudethmc3

HE city government of Mandaluyong received an Unmodified/Unqualified Opinion from the Commission on Audit (COA) based on the city’s annual audit report for calendar year 2021. In a letter sent by COA’s Local Government Audit Sector to Mayor Carmelita “Menchie” Abalos dated June 20, 2022, the financial statements for the year 2021 they obtained from the city government “is sufficient and appropriate to a basis for our unmodified/unqualified opinion.” “We are grateful to have satisfied the requirements of the auditors,” Abalos said. An unmodified/unqualified opinion is the highest mark issued by COA after state auditors conclude that the financial statements submitted by a local government unit (LGU) or

juries, around 1 percent were fatal cases while about 42.7 percent were reported as non-fatal cases with lost work days. A great majority or 56.6 percent of all occupational injuries were cases without lost workdays or those cases that required first aid or medical treatment only on the day of the accident and were able to perform duties of the job one day after the accident. By m ajor i ndu st r y g roup, manufacturing contributed the highest share of occupational injuries at 42.7 percent of the total cases. The administrative and support service activities came next at 11.1 percent and was followed by construction services at 9.5 percent share.

agency is in accordance with the International Public Sector Accounting Standards (IPSAS). Included in the audit were the statement of financial position of the city government as of December 31, 2021, the statement of financial performance, statement of changes in net assets/equity, and statement of cash flows for the years then ended, and notes to the financial statements, which include a summary of significant accounting policies. This means that Mandaluyong City’s financial statements pertaining to the strategic programs, services and policies implemented or covered in the independent audit report were free from material misstatements. “This assures that the city’s financial statements are well managed so that basic services to constituents are delivered effectively and efficiently despite the second year of the pandemic,” the mayor said.

‘Yellow alert’ raised in Luzon as six power plants conk out By Lenie Lectura

@llectura

NCE again, the Luzon grid was placed on yellow alert Tuesday afternoon for three hours. A yellow alert means an insufficient operating power reserve. The National Grid Corporation of the Philippines (NGCP) said power reserve stood at 412 megawatts (MW), lower from Monday’s 533MW. Demand hit 11,385MW as against 12,251MW of supply. The numbers are low because six power plants are on forced outage. These are the 460MW coal plant of Quezon Power Philippines Ltd. Co., 150MW Unit 1 of Southwest Luzon Power Generation Corp. (SLPGC), 50MW Units 3 and 4 of SLPGC, 316MW Unit 1 of GN Power Mariveles Coal Ltd. Co. (GMEC), 316MW Unit 2 of GMEC, and 300MW Calaca 2. In all, the total unplanned unavailable capacity stood at 1,592MW. As of 4 p.m. on Tuesday, the yellow alert notice was lifted. The other day, the yellow alert lasted for two hours. Five power plants conked out. Last Saturday, NGCP issued yellow and red alert warnings mainly due to multiple power plant outages. The red alert status

was lifted at 5:30 p.m., while the yellow alert status lasted until 10:19 p.m. The NGCP identified the cause of the outage last Saturday as “underbuilt” lines owned by the Peninsula Electric Cooperative Inc. (PENELCO). These underbuilt distribution lines are constructed underneath NGCP’s transmission lines and are within the grid operator’s right-of-way. The underbuilt lines breached the safety clearance along NGCP’s Hermosa-BCCPP 230kV line, causing the transmission outage. Before last Saturday’s incident, the Luzon grid had three yellow alerts from January to April this year. In comparison, there were four days of yellow alerts and three days of red alerts in 2021. When there is supply deficiency and power interruptions are imminent, the Manila Electric Company (Meralco) will implement its Interruptible Load Program (ILP). As of June 2022, there are 121 companies representing 263 establishments with a total committed de-loading capacity of 554MW that have signified with Meralco, MPower and with other retail electricity suppliers to temporarily deload from the grid and use their generator sets when needed.

ACCP sets launch of online dispute resolution platform on June 28

HE Asean Committee on Consumer Protection (ACCP) will officially launch the Regional Complaints Platform on June 28 as part of the 3rd Asean Consumer Protection Conference (APC) 2022. In a news statement issued on Tuesday, the Department of Trade and Industry (DTI) said the ACCP agreed to pursue the Asean Secretariat’s proposal to enhance the ACCP website to add features such as the complaints portal, product recalls page and an internal page which is accessible only to ACCP members and the Asean Secretariat. It added that through this platform, workshop materials can be shared and members can update their respective country page in real time. The Asean Regional Complaints Platform is a dedicated page in the Asean Committee on Consumer Protection website (http://aseanconsumer.org/) where consumers can file consumer complaints that are of concern to Asean Member States (AMS). The said regional complaints platform serves as a channel or facility for Asean consumers to complain or claim for any loss incurred in relation to any goods or services purchased or acquired, in a speedy manner. The inclusion of a complaints platform within the ACCP website adheres to the Asean Guidelines on Cross Border Business to Consumer (B2C) Dispute Resolution and is aligned with the initiative of the Asean Strategic Action Plan on Consumer Protection (ASAPCP 2025).

The Guidelines and Strategic Action Plan provide the establishment of an Asean Online Dispute Resolution (ODR) Network and the establishment of a cross-border complaints mechanism in Asean. For this initiative, the ACCP was supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) within the framework of the PROTECT Project, an EU-funded research project. For her part, DTI-Consumer Protection Group Undersecretary Ruth B. Castelo said, “The complaint platform provides an efficient facility for consumer redress to provide them greater confidence when making commercial transactions locally or internationally regardless if the same was made online or offline.” In fact, according to the 2022 Outcome Report on Data and Digitalization for Development released by United Nations Conference on Trade and Development (Unctad), the Southeast Asian region is one of the most dynamic regions with regard to digitalization with fastevolving and expanding e-commerce landscapes and consumer ODR has a key role to play in reaping the benefits offered by e-commerce while protecting consumers. For the Philippines, the Unctad said in the outcome report that Trade Undersecretary Ruth Castelo mentioned that the country launched the Philippine Online Dispute Resolution System (PODRS), a web-based portal where clients may log complaints and seek relief for products or services they purchase online. Andrea San Juan

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‘Balikbayans’ push demand for air travel to Philippines By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

OMECOMING Filipinos, otherwise known as balikbayans, are pushing the demand for air travel to the Philippines. In a news statement from Forward Keys, which tracks flight booking patterns, “Summer flight bookings for the Philippines are currently at 70 percent of pre-pandemic level,” which covers June 1 to August 31, vis-a-vis the same period in 2019. The Philippines also leads other Southeast Asian nations in terms of confirmed flight bookings for the period: Singapore was up 58 percent of pre-pandemic levels, Indonesia at 41 percent, Thailand at 35 percent and Vietnam at 32 percent. “Travel to the Philippines is dominated by people returning to visit friends and relatives,” the company added. This was higher than the second quarter (April-June) bookings to the Philippines, which For-

ward Keys earlier estimated at 29 percent in the second quarter of the year. Travel to the other destinations are “more for work and leisure,” the company noted. Overall, visitors from the US have been speeding up the recovery of Southeast Asia’s tourism sector. “The most popular destinations for US visitors are the Philippines, Singapore, and Indonesia. Helpfully, as US tourists are known for being high spending, average trip durations appear to be significantly longer than they were before the pandemic. This visitor profile is also more affluent, with 17 percent flying in the front of the plane, compared to 9 percent in the equivalent months in 2019.” All three countries were the first in Southeast Asia (SEA) to reopen their borders to foreign leisure travelers. Visitors are no longer required to take Covid tests or quarantine upon arrival.

Foreign arrivals at 719,838

LATEST arrivals data provided by

the Department of Tourism (DOT) also support a similar trend. From February 10 to June 19, foreign leisure travelers from abroad reached 719,838, of which 291,539 were balikbayans, and 428,299 were other nationalities. Of the total foreign tourists, 143,976 were from the US; followed by South Korea at 46,222; Australia at 30,902; Canada 30,556; the UK at 26,586; Japan at 18,336; Vietnam 12,789; Singapore at 11,125; German at 10,509; and Malaysia at 8,641. The same data showed close to 34 percent or 98,612 of total balikbayan arrivals were from the US, with those from Canada (18,320); Australia (9,177); and the UK (6,179) following far behind. Reopening of these markets to leisure travelers, however, have caught airlines scrambling to increase their seat capacities; the shortfall has resulted in higher airfare. “Throughout the pandemic, airlines flying to Southeast Asia have provided more than enough seat capacity to

accommodate passenger demand. However, in May 2022, the acceleration in demand started to outstrip capacity, which has been creating an upward pressure on airfares,” said Forward Keys.

SEA still playing catch up

IN terms of regions, SEA is still slow to catch up with the rest of the world. This summer, flight bookings to SEA are at just 43 percent of pre-pandemic levels, whereas bookings to Europe are 70 percent; for the Americas, 78 percent; and for the Middle East and Africa, 85 percent. Forward Keys Vice President, Insights Olivier Ponti, said: �� “�� The recovery of air travel in Southeast Asia is lagging because travel restrictions there have been tougher. China, which used to be SEA’s largest source market, is still effectively closed; Japan, another major market for travel, is reopening very cautiously and seat capacity, which is constrained, is leading to higher airfares, which in turn dampens demand.”

8 aliens allegedly involved in illegal drugs nabbed in Makati, Las Piñas

HE Bureau of Immigration (BI) on Tuesday disclosed the arrest of eight foreign nationals believed to be involved in big-time illegal drug operations in the country. BI Commissioner Jaime Morente said the aliens were apprehended on Friday during operations conducted by operatives from the BI’s Fugitive Search Unit (FSU) in the cities of Las Piñas and Makati in coordination with the National Bureau of Investigation Special Action Unit (NBI-SAU). Among those arrested were two Yemeni nationals, identified as brothers Ayesh Hazem Faiz Kadaf

and Ayesh Hamzah Faiz Kadaf. The two were arrested inside their residence in Las Piñas City along with Mohamoud Mouhoumed Mohamed, a Djibouti national, who was caught in possession of dangerous drugs. In another operation, the BI team arrested Sudanese nationals Mohamed Alfaith Mohamed Saeed Osman, Eltayeb Ahmed Subahi Faris and Angolan Ciel Do Carmo Miguel Domingos who were also found in possession of illegal drugs at their residence in Gen. Luna Street, Poblacion, Makati City. Also arrested during the operation were Sri Lankan Mohamed

Go reminds Duterte govt: Protect, promote Filipinos’ mental health By Butch Fernandez

@butchfBM

DMI NIS T R AT ION Sen. Christopher Go, conveying the still growing public anxiety over the lingering Covid-19 contagion, pressed concerned Duterte government officials to step up counter-measures to effectively contain the ongoing pandemic, as well as other crises that threaten the mental health of Filipinos. In pressing his call for stronger governmentinterventions,particularlyon the provision of psychosocial services and support, Go recalled the recent appeal of no less than the World Health Organization “for nations to invest more in mental health.” This, after reminding that just 2 percent of national health budgets and less than 1 percent of all international health aid go to mental health. Go, chairman of the Senate’s Health Committee, pressed his earlier proposal calling on concerned Duterte government officials to “explore all possibilities of extending needed guidance to families,” reminding that the Covid-19 pandemic continues to “affect not only the livelihood and physical health of Filipinos, but their

emotional and mental conditions.” At the same time, the senator insisted “persistent efforts must be exerted to fully accomplish the purpose of the landmark Mental Health Law signed by President Duterte back in 2018.” He reminded that Republic Act 11036 established a national mental health policy directed towards improving the health of the population, noting, “It also underscores the basic right of all Filipinos to mental health care, while shaping the structural and attitudinal challenges to achieving positive mental health.” Moreover, Go assured that the enabling law was crafted “specifically, to provide mental health services at the barangay level and integrate mental health and wellness programs at the grassroots level so that interventions will be felt by the communities.” It also “seeks to improve mental health facilities and promote mental health education in schools and workplaces.” Sitting as Vice Chairman of the Senate Committee on Finance, Go did not encounter stumbling blocks in successfully pushing additional funding for the implementation of the Mental Health Law in the 2021 and 2022 budgets.

Silmy Sahabdeen and Kyrgyztani national Anara Ruslanova, who were also caught in possession of illegal drugs. The arrest of the said foreign nationals was made by virtue of the mission orders authorizing the agents to effect the arrest of the aliens due to their alleged involvement in illegal drugs. He added that all of the aliens have already overstayed in the country, which constitutes enough ground for the BI to detain and deport them. However, Morente noted that they would have to be criminally charged and prosecuted in court and,

if convicted, they will have to first serve their sentences before they can be deported. “We will not tolerate any foreign national destroying our communities by peddling illegal drugs,” said Morente. “We are working closely with other government agencies to ensure that these criminals are deported and blacklisted from our country,” Morente said. The eight foreigners are now detained at the BI warden facility in Camp Bagong Diwa, Taguig City pending their criminal trial and conduct of deportation proceedings. Joel R. San Juan

www.businessmirror.com.ph

DTI renews Go Lokal! drive for PHL goods, job generation By Andrea San Juan

HE Department of Trade and Industry (DTI) is pushing for a major policy program that would further promote locally manufactured products to generate more jobs. In his keynote address at the 2022 Manufacturing Summit on Tuesday, outgoing DTI Secretary Ramon M. Lopez said, “One major policy program that we’re trying to inject, one of the post-pandemic programs is this preference for locally manufactured products.” “To us, this is one that will create demand for local manufacturers as we all know any local manufactured products will be creating jobs locally and abroad,” he added. The outgoing trade chief also cited Republic Act 9184 or the Government Procurement Reform Act, saying, “so this is what we’re trying to…maybe in the next administration, to make sure that in certain projects there will be a preference that only local manufacturers can participate in the bid.” But, he mentioned a caveat that supply is available and prices are competitive, “and then there’s benchmarking with the prices abroad just to make sure that prices are within range. That’s what we’re trying to inject in our policy.” Moreover, Lopez said that DTI continues the promotion of local products in government procurement through their Domestic Bidders Preference Certification Program. Lopez also highlighted the trade department’s key achievements and efforts poured into the micro, small and medium enterprises (MSMEs). He also stressed MSME’s significant role in the Philippine manufacturing industry. “Philippine manufacturing can promote greater socioeconomic inclusion only when our MSMEs are empowered to grow together with large companies,” added Lopez. He also noted that MSMEs com-

prise 99.6 percent of Philippine manufacturing enterprises. With this, he said, the DTI expanded and upgraded its programs on MSME development covering training and mentorship through the Kapatid Mentor Me Program and the SME Roving Academy, financing through the Pondo Para sa Pagbabago (P3). He added that there is also the Covid-19 Assistance to Restart Enterprises or CARES Program during the pandemic, and market promotions through the One Town One Product Initiative. Another key accomplishment under MSMEs, Lopez highlighted, is the Go Lokal! Initiative that aims to enable MSMEs to get market access to stores/spaces provided by major malls and retail operators. “So far, 150 Go Lokal! retail stores are currently operational and the program has benefited almost 900 MSMEs all over the country, which utilize the Go Lokal! stores to market their products,” Lopez stressed. For her part, National Economic and Development Authority (Neda) Undersecretary Rosemarie Edillon during the 2022 Manufacturing Summit, highlighted the impact of key economic reforms on the manufacturing sector. Edillon said the Retail Trade Liberalization Law assists small manufacturers by providing Philippine goods and services access to global stores. She explained that the said law enabled the use of locally made packaging materials such as bags, boxes or containers, the utilization of locally sourced raw materials in the production of goods, and all other arrangements that will promote locally manufactured products. Meanwhile, the Neda undersecretary said the Foreign Investment Act (FIA) allows employment of foreign nationals subject to an understudy or skills development program. On the Public Service Act (PSA), she said, it attracts more investments in critical services and improves the quality of public services while lowering the costs for consumers.

Davao City mayor and soon-to-be VP Sara assures continuity of big-ticket projects By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—With still more than one week to go before she relinquishes her post as mayor, Vice President-elect Sara Duterte assured the continous implementation of on-going big-ticket projects in the city. These include the P74-billion high priority bus system (HPBS) project and the planned P2.5-billion wasteto-energy (WTE) facility. A few hours before she was inaugurated here as the country’s 15th vice president, Duterte told a news conference at the Davao City Hall Building that she would continue and if possible, to complete, the city’s big-ticket projects under the incoming BBM administration. She said she already took “preliminary measures” to safeguard the continuation of these projects by issuing directives to Assistant City Administrator Atty. Tristan Dwight Domingo. Domingo is the project head of both the HPBS and WTE. “We had a meeting with the officer in charge of the HPBS and WTE. I initially gave him instructions to make sure that there is dialogue

with the DENR and DOTr [Department of Enviroment and Natural Resources and Department of Transportation] under the Duterte administration so that the projects will be endorsed during the transition to the Marcos Jr. administration,” she said. The HPBS project has secured funding from the Asian Development Bank and it is currently in its contract bidding phase, the City Information Office here said. The project would replace the jeepneys in the streets and it would use hybrid and electric buses. For the WTE project, the city government has bought a lot in Biao Escuela in Tugbok District. The WTE project is a joint effort with sister city Kitakyushu, Japan to offset the approaching full capacity of the city landfill. Duterte also said she hoped that the P19-billion Davao-Samal bridge would be realized in three to four years. She thanked President Rodrigo Duterte’s administration for initiating the project, which is funded by the People’s Republic of China. Her brother, the incoming mayor Sebastian Duterte has said her big-ticket projects like the HPBS and WTE would be high

on his administration. “I want to prioritize those bigticket projects started under Mayor Sara Duterte, just like the HPBS and WTE, those kinds of projects,” he said. Meanwhile, incoming Vice President Duterte commended as “true public servants” the city hall employees for “working beyond what is expected to ensure that the city government never falters in delivering the needed services to the people despite some challenges.” “I would like to formally bid you all goodbye in the City Government of Davao. Leading Davao City has been a learning, humbling and eyeopening experience, one with many sleepless nights as well as days filled with tears of both grief and joy. It is an experience that I am glad to have shared with all of you. It has been an honor and privilege to serve as your city mayor, it has been an honor serving Davao City beside all of you,” she said in her farewell address on Monday. The mayor noted the “hard work and work dedication of the city employees, the department heads, and members of the Sangguniang Panlungsod for keeping the city government offices running” in her absence during the

campaign period, delivering services, the vaccination programs. She was grateful for the support of the vice mayor, department heads, chief of offices, city councilors who managed the city smoothly during her absence. The mayor said that the city government is an agency that everyone can be proud of due to the presence of employees at all levels who “work beyond what is expected, and are true public servants.” One of the legacies she would leave her employees, she said, “is the increase of salaries of the workers under contracts of service and job orders beyond the minimum wage set by the Department of Labor and Employment to ensure that no employee shall receive a salary less than 10,000 per month. The city also augmented additional increases starting January 2020 and gave loyalty pay for personnel who have served for more than 20 years but were not appointed as plantilla or regular employees. “I leave you now in the capable hands of the next set of city officials and I ask that you extend to them the same level of support and cooperation that you have given to me,” Mayor Inday said.

Group nixes MICC recommendation for more mining projects under incoming BBM admin By Jonathan L. Mayuga @jonlmayuga

HE anti-mining group Alyansa Tigil Mina (ATM) on Tuesday rejected the recommendation of the Mining Industry Coordinating Council (MICC) for the development of more mining projects under the next adminis-

tration as part of the government’s post-pandemic recovery program. Jaybee Garganera, ATM National Coordinator, warned that a revival of the mining industry would lead to further displacement of communities, air and water pollution, loss of biodiversity, soil erosion, land-use changes, and food insecurity. “These impacts are the last things

we need in a post-pandemic recovery phase of the Philippines,” said. The government’s push was made in light of the MICC report that mining and quarrying contributed significantly to the regional gross domestic product where mines are operational. Garganera said the mining industry’s economic contribution does

not outweigh the harmful impacts of mining to mining-affected communities and the cumulative impacts of climate change and natural disasters to the country. “Besides, we doubt the claim of the MICC that mining contributes ‘significantly’ to the regional economy, as these computations fail to account for or externalize the costs

to the environment, health, cultural displacement and conflict brought by mining,” he said. Data from the Mines and Geosciences Bureau (MGB) itself reveals the mining industry’s insignificant contribution to the GDP. According to MGB in June 2021, the mining sector accounted for P102.3 billion, equivalent to 0.6 percent of gross

domestic product (GDP) growth in 2020. In addition, there were only 184,000 jobs created, Garganera pointed out. “At present, the government is pushing for mining to help the economy recover from the Covid pandemicinduced slump. However, we do not think that mining is the answer to the country’s economic woes.”

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

TheWorld

Despite Western arms, Ukraine troops still outgunned in Donbas By Andrea Rosa & Jamey Keaten The Associated Press

AKHMUT, Ukraine—Holed up in a bombed-out house in eastern Ukraine, Ukrainian troops keep a careful accounting of their ammunition, using a door as a sort of ledger. Scrawled in chalk on the door are figures for mortar shells, smoke shells, shrapnel shells, and flares. Despite the heavy influx of weapons from the West, Ukrainian forces are outgunned by the Russians in the battle for the eastern Donbas region, where the fighting is largely being carried out by way of artillery exchanges. While the Russians can keep up heavy, continuous fire for hours at a time, the defenders can’t match the enemy in either weapons or ammunition and must use their ammo more judiciously. At the outpost in eastern Ukraine, dozens and dozens of mortar shells are stacked up. But the troops’ commander, Mykhailo Strebizh, who goes by the nom de guerre Gaiduk, lamented that if his fighters were to come under an intense artillery barrage, their cache would, at best, amount to only about four hours’ worth of return fire. Ukrainian authorities say the West’s much-ballyhooed support for the country is not sufficient and is not arriving on the battlefield fast enough for this grinding and highly lethal phase of the war. While Russia has kept quiet about its war casualties, Ukrainian authorities say up to 200 of their soldiers are dying each day. Russian forces are gaining ground slowly in the east, but experts say they are taking heavy losses. The United States last week upped the ante with its largest pledge of aid for Ukrainian forces yet: an additional $1 billion in military assistance to help repel or reverse Russian advances. But experts note that such aid deliveries haven’t kept pace with Ukraine’s needs, in part because defense industries aren’t turning out weaponry fast enough. “We’re moving from peacetime to wartime,” said Francois Heisbourg, a senior adviser at the Paris-based Foundation for Strategic Research think tank. “Peacetime means low production rates, and ramping up the production rate means that you have to first build industrial facilities.… This is a defense-industrial challenge which is of a very great magnitude.” The Kiel Institute for the World Economy in Germany last week reported that the US has delivered about half of its pledged commitments in military support for Ukraine, and Germany about one-third. Poland and Britain have both come through on much of what they promised. Many foot soldiers say they can’t even begin to match the Russians shot for shot, or shell for shell. Earlier this month, Ukraine’s ambassador in Madrid, Serhii Phoreltsev, thanked Spain—which trumpeted a shipment of 200 tons of military aid in April—but said the ammunition included was enough for only about two hours of combat. Ukrainian filmmaker-turned-fighter Volodymyr Demchenko tweeted a video expressing gratitude for guns sent by the Americans, saying, “It’s nice guns, and 120 bullets to each.” But he lamented: “It’s like 15 minutes of a fight.” Part of the problem, too, is that the Ukrainian forces, whose country was once a member of the Soviet Union, are more familiar with Soviet-era weaponry and must first be trained on the Nato equipment they are getting. An untold number of Ukrainians have traveled abroad to get training on the Western weapons. Of the $1 billion pledge from the US, only slightly more than one-third of that will be rapid, off-the-shelf deliveries by the Pentagon, and the rest will be available over a longer term. The pledge, which includes 18 howitzers and 36,000 rounds of ammunition for them, addresses Ukraine’s plea for more longer-range weaponry. That’s still far short of what the Ukrainians want—1,000 155 mm howitzers, 300 multiple-launch rocket systems, 500 tanks, 2,000 armored vehicles and 1,000 drones—as President Volodymyr Zelenskyy’s adviser Mikhail Podolyak tweeted last week, before the latest big Western pledges. “What the Ukrainians have got to do is conduct what military people tend to call a counter-battery operation” to respond to Russian artillery fire, said Ben Barry, a former director of the British Army Staff who is senior fellow for land warfare at the International Institute for Strategic Studies. “To do this, you need accurate weapons with a high rate of fire and a range that allows them to keep out of the way of the other side’s artillery.” “The Ukrainians are saying they don’t have enough long-range rockets to adequately suppress Russian artillery,” he said. “I think they’re probably right.” As it now stands, Ukrainian fighters often have to use “shoot and scoot” tactics—fire, then move before the Russians can zero in on them. Better Nato hardware, even in small quantities, is often welcome. On a nearby front on Saturday, a Ukrainian unit granted The Associated Press rare access to the firing of U.S.-supplied M777 howitzers—towable, 155 mm weapons—on Russian positions. A lieutenant who goes by the call sign Wasp touted the M777’s precision, speed of fire, simplicity of use and the ease with which it is camouflaged, saying the new hardware “raises our spirits” and “demoralizes the enemy because they see what the consequences are.” Denys Sharapov, Ukraine’s deputy minister of defense in charge of procurement, told a publication of the US-based National Defense Industrial Association that the weapons systems that have been received cover only 10% to 15% of the country’s needs. He noted the breadth of the challenge— a front line with 1,000 kilometers (620 miles) of active combat. Interviewed by National Defense magazine in an article published Wednesday, Sharapov said no single supplier could satisfy Ukraine’s needs alone. “Quite unfortunately for us, we have become the biggest consumer of weapons and ammunition in the world,” he said. Friends of Ukraine are digging in for the long haul. Time may be on Ukraine’s side, the experts say. Ukrainian fighters are both motivated and mobilized—all men in the country of 40 million have been called to fight, whereas Russia has so far avoided a call-up of conscripts, which could vastly tilt the war in Russia’s favor but may not be popular domestically. As for how long such fighting could last, analyst Heisbourg said a yearslong war of attrition is “quite possible.” Keaten reported from Geneva. Srdjan Nedeljkovic in Bakhmut, Ukraine, contributed to this report.

BusinessMirror

Wednesday, June 22, 2022

China outbreaks shift to south with Shenzhen, Macau on alert

By Rachel Chang

hina’s Covid-19 outbreak is shifting to its south coast, with a flareup in technology hub Shenzhen triggering mass testing and a lockdown of some neighborhoods, while gambling enclave Macau—an hour’s drive away—is racing to stop its first outbreak in eight months.

The new cases come as China’s two most important cities, Beijing and Shanghai, look to be subduing the virus after months of strict curbs and repeated testing. Shanghai reported nine local cases on Tuesday, while Beijing reported five. Nationwide, China posted 34 new infections on Tuesday. Yet new clusters continue to emerge, prompting heavy-handed action from local officials fearful of spiraling outbreaks. Its borders are increasingly under pressure, with Dandong—just across the river from North Korea—reporting six local cases. In the city of Jilin to the north east, there were 10 new infections among cold-chain workers. In Shenzhen, home to companies like iPhone maker Hon Hai Precision Industry Co. and Huawei Technologies Co., isolation orders were imposed for several residential compounds in the Futian and Luohu districts that border Hong Kong after each reported an asymptomatic infection. The restrictions haven’t impacted the companies’ operations, representatives said. The city recorded two local cases on Tuesday. Hong Kong’s outbreak, meanwhile, continues to grow. It posted 1,186 new local infections on Monday. Gaming hub Macau shut schools and non-essential businesses after the government found 36 infections as of Monday afternoon, though casinos remain open. The city reported another 47 infections on Tuesday. Fearful of contagion, neighboring Zhuhai on the mainland locked down the area of the border crossing. The shifting focus of China’s Covid concerns underscores the Sisyphean task of stamping out a pathogen so infectious that the rest of the world has adjusted to living with it. After damaging outbreaks marred the spring, especially in Shanghai, China is facing pressure to boost economic activity ahead of a party congress later this year where President Xi Jinping is expected to clinch an unprecedented third term as leader. Meanwhile, Beijing’s economy was slammed in May as it contended with Covid outbreaks, a sign that government curbs to contain the virus still had a significant impact even though it managed to avoid a citywide lockdown like Shanghai’s. Retail sales in the city fell about 26 percent in May from a year earlier, data from the municipal statistics bureau showed. That’s worse than any other provincial-level jurisdiction that has published monthly data so far except for Shanghai, where spending plunged some 37 percent. Industrial output in the capital city dropped nearly 40 percent in May, worse than Shanghai’s almost 28 percent drop. Beijing blamed the decline on the Covid outbreaks and a high base from last year, according to a statement from the statistics bureau. Shanghai benefited from central government encouragement to keep factories running during the lockdown. About 14 of China’s 31 provinces

and cities have published some May activity data so far, with economic powerhouses including Jiangsu and Guangdong yet to release their figures. The data are based on government statistics and on calculations by Bloomberg News. The figures suggest that while Beijing didn’t impose a hard lockdown that confined every resident to their homes in the way Shanghai did, the capital’s own strict virus curbs still dealt a heavy blow to the economy. Beijing has rolled out mandatory Covid testing for many residents, business closures and sporadic lockdowns to contain virus flare-ups, depressing consumer spending and

Residents line up for Covid-19 test in Shanghai on June 11. Bloomberg photo

other economic activity. Beijing and Shanghai contribute a sizable portion of the nation’s gross domestic product: 3.5 percent and 3.8 percent, respectively, in 2021. That makes any prolonged economic downturn a major concern for a country that has targeted growth of about 5.5 percent for this year. Many economists think China will miss that target, with the median estimate at 4.3 percent growth for 2022. Already there was some improvement in Shanghai in May, where lockdown measures were gradually eased ahead of June’s reopening. While the economy stayed in contraction, the decline in industrial

output narrowed from a 62 percent drop in April, and the decline in retail sales was smaller than April’s 48 percent. However, both Shanghai and Beijing walked back the unraveling of some restrictions in June to contain Covid outbreaks. The economic downturn has also stretched to fixed-asset investment in Beijing, which grew only 2.8 percent from January to May—far behind the 6.2 percent national increase. That was also the secondworst reading among the economies that published data so far, behind Shanghai, which saw investment plummet 21.2 percent in the period. Bloomberg News

Wednesday, June 22, 2022

TheWorld BusinessMirror

‘Blame Russia, not sanctions, for looming global food crisis’ By Samuel Petrequin

The Associated Press

RUSSELS—The European Union’s top diplomat said on Monday he has written to all African foreign ministers to explain that the bloc’s sanctions on Russia are not responsible for the looming global food crisis, and pledged to work out ways for exports of food and fertilizers to reach their continent.

The EU has not banned exports of Russian food or fertilizers to non-EU nations as part of its sanctions package. Earlier this month, the chairman of the African Union, Senegal’s

President Macky Sall, told Russian President Vladimir Putin that the fighting in Ukraine and Western sanctions had worsened food shortages, and appealed to other countries to ensure grain and fertilizer

exports from Russia and Ukraine aren’t blocked. “Russia is blockading Ukrainian exports,” Josep Borrell said after a meeting of EU Foreign Affairs ministers. “Not us. Russia is destroying ports, and destroying food stocks, destroying transport infrastructure.” Russia’s war against Ukraine has been preventing some 20 million tons of Ukrainian grain from getting to the Middle East, North Africa and parts of Asia. Borrell said it is “a deliberate attempt (by Russia) to create hunger in the world,” adding that the Kremlin’s attempt to blame Western sanctions for the crisis was just “propaganda.” Sall also complained that the collateral effects of the EU decision to expel many Russian banks from the SWIFT financial messaging system will hurt African countries’ ability to make payments for

food imports. Borrell said he understands the concerns of African leaders about the consequences of EU sanctions. “If t here is a problem, we w i l l solve it,” he sa id. “But I have to k now the problem. Not t he whole f ina nc i a l system of Russi a is de - Sw if ted.” Meanwhile, Borrell said the bloc is ready to look into whether sanctions imposed on Belarus before the war targeting exports of potash—a common fertilizer ingredient—can affect its distribution across the world. In addition, Borrell said the European Commission, the EU’s executive arm, will send letters to all financial and economic actors to explain what they can do under the sanctions regime. “Because our sanctions don’t forbid them to participate on the trade on food, fertilizers with Russia and third countries,” he said. AP

Biden says decision on gas tax holiday may come this week By Aamer Madhani & Josh Boak The Associated Press

EHOBOTH BEACH, Del.— President Joe Biden said Monday that he will decide by the end of the week whether he would support a federal gasoline tax holiday, possibly saving US consumers as much as 18.4 cents a gallon. “Yes, I’m considering it,” Biden told reporters after taking a walk along the beach near his vacation home in Delaware. “I hope to have a decision based on the data—I’m looking for by the end of the week.” The administration is increasingly looking for ways to spare the public from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a gallon, according to AAA. Biden said members of his team were to meet this week with CEOs of the major oil companies to discuss rising prices. Biden lashed out at oil companies, saying they are making excessive profits when people are feeling the crunch of skyrocketing costs at the pump and inflation. But Biden said he would not be meeting the oil executives himself. “I want an explanation for why they aren’t refining more oil,” Biden said. The Biden administration has already released oil from the US strategic reserve and increased ethanol blending for the summer, in additional to sending a letter last week to oil refiners urging them to increase their refining capacity. Yet those efforts have yet to reduce price pressures meaningfully, such that the administration

President Joe Biden talks to the media after walking on the beach with his granddaughter Natalie Biden, left, and his daughter Ashley Biden, right, Monday, June 20, 2022 at Rehoboth Beach, Del. AP/Manuel Balce Ceneta

is now considering a gas tax holiday. Taxes on gasoline and diesel fuel help to pay for highways. The Penn W harton Budget Model released estimates Wednesday showing that consumers saved at the pump because of gas tax holidays in Connecticut, Georgia and Maryland. The majority of the savings went to consumers, instead of service stations and others in the energy sector. Energy Secretary Jennifer Granholm in a Sunday interview on CNN’s “State of the Union” cautioned that “part of the challenge with the gas tax, of course, is that it funds the roads.” But Treasury Secretary Janet Yellen on Monday noted “consumers are really hurting from higher gas prices” and remained open to a gas tax holiday. “It’s been a substantial burden on American households and I think, while not perfect, it is something that should be under some consideration as a policy to address it,” Yellen said in Toronto at a joint press conference Monday with Canadian Deputy Prime Minister and Finance Minister

Chrystia Freeland. A gas tax holiday would likely face an uphill climb for Congressional approval. Democrats hold a slim majority, and both Democratic House Speaker Nancy Pelosi and Senate Minority Leader Mitch McConnell have expressed skepticism in the past about such a move. A White House official, insisting on anonymity to discuss the options on gas prices, said conversations are ongoing and Biden wants to explore all possibilities to lower prices. Oil refiners say their ability to produce additional gas and diesel fuel is limited, meaning that prices could remain high unless demand starts to wane. The American Petroleum Institute and American Fuel & Petrochemical Manufacturers sent a joint letter to Biden on Wednesday that said refineries are operating near their maximum capacity already and nearly half of the capacity taken off line was due to the facilities converting to renewable fuel production. “Today’s situation did not materialize overnight and will not

be quickly solved,” the letter said. “To protect and foster US energy security and refining capacity, we urge to you to take steps to encourage more domestic energy production,” including new infrastructure and reducing regulatory burdens. Strolling on the beach with his daughter Ashley, granddaughter Naomi, and his granddaughter’s fiancé, Biden stopped frequently to chat with beachgoers who were spending the Juneteenth federal holiday at the beach. He took a moment to offer assurances about inf lation—the consumer-price index increased to a nearly 40-year high of 8.6% in May from the same month a year ago—and growing warnings from economists that a recession may be around the corner. “We’re going to get though this, guys,” Biden told one group of beachgoers. Last week, the Federal Reserve stepped up its drive to tame inflation by raising its key interest rate by three-quarters of a point—its largest increase in nearly three decades—and signaled more large rate increases to come. Former Treasur y Secretar y Larry Summers told NBC’s “Meet the Press” on Sunday that in his estimation, “the dominant probability would be that by the end of next year we would be seeing a recession in the American economy.” Biden said he spoke with Summers, who served as treasury secretary in the Clinton administration, on Monday morning. “ There’s nothing inevitable about a recession,” Biden said. Boak reported from Baltimore. AP writer Rob Gillies contributed from Toronto.

Global food inflation gets reprieve as wheat, palm oil prices tumble

gricultural commodities fell as traders weighed an improved outlook for global food supplies, with signs pointing to burgeoning palm oil exports from Indonesia and a large Russian wheat crop this season. Palm oil slumped further into a bear market, dropping about 9 percent on Monday and another 1.8 percent on Tuesday, as top shipper Indonesia ramps up shipments. That’s a turnaround from the end of April when prices hit a record closing high as the country temporarily banned palm oil exports to cool domestic

food inflation and the war in Ukraine restrained sunflower oil trade. In Chicago, wheat and corn prices fell about 2 percent as trading resumed after a holiday. The outlook for North American wheat supplies is picking up, while analysts continue to increase their estimates for Russia’s wheat crop, which is expected to be near or at a record after favorable weather in spring. The declines offer some relief for consumers around the world who face rapidly increasing living costs and growing food insecurity. The United Nations’ food

price index has eased from a record high in March after Russia’s invasion choked exports from Ukraine, one of the top grain and vegetable oil shippers. “There are signs that the global food crisis may be nearing its peak,” said Chua Hak Bin, an economist at Maybank Investment Banking Group. He added that palm oil’s slump will reduce the pressure on cooking oil prices. Indonesia is speeding up palm oil shipments to “flush out” its overflowing stockpiles, a move that will challenge cargoes from rival Malaysia. Data show

Malaysia’s exports fell more than 10 percent in the first 20 days of June from the previous month. Volumes sank to India and Europe but increased to China. Price hikes for edible oils in China will likely end with the restoration of palm oil supply, according to Chen Bin, a Shandong-based analyst at Shanghai Ganglian E-Commerce Holdings Co. Given that palm is the world’s most used edible oil and a key raw material in the food processing industry, the price slump will ease global food inflation significantly, she said. Bloomberg News

www.businessmirror.com.ph

Israel to dissolve parliament, call fifth election in 3 years By Josef Federman The Associated Press

ERUSALEM—Israel’s weakened coalition government announced Monday that it would dissolve parliament and call new elections, setting the stage for the possible return to power of former Prime Minister Benjamin Netanyahu or another period of prolonged political gridlock. The election will be Israel’s fifth in three years, and it will put the polarizing Netanyahu, who has been the opposition leader for the past year, back at the center of the political universe. “I think the winds have changed. I feel it,” Netanyahu declared. The previous four elections, focused on Netanyahu’s fitness to rule while facing a corruption investigation, ended in deadlock. While opinion polls project Netanyahu, who is now on trial, as the front-runner, it is far from certain that his Likud party can secure the required parliamentary majority to form a new government. Prime Minister Naftali Bennett, a former ally and aide of Netanyahu, formed his government a year ago with the aim of halting the never-ending cycle of elections. But the fragile coalition government, which includes parties from across the political spectrum, lost its majority earlier this year and has faced rebellions from different lawmakers in recent weeks. Announcing his plan to disband the government during a nationally televised news conference, Bennett said he had made “the right decision” in difficult circumstances. “Together, we got Israel out of the pit. We accomplished many things in this year. First and foremost, we brought to center stage the values of fairness and trust,” Bennett said, standing alongside his main partner, Foreign Minister Yair Lapid. “We shifted to a culture of ‘we,’ ‘together.’” Under their coalition deal, Lapid, who heads the large centrist party Yesh Atid, now becomes the interim prime minister until the election, in which he is expected to be the main rival to Netanyahu. Standing together with Bennett, he thanked his partner for his hard work and for putting the country ahead of his personal interests. “Even if we’re going to elections in a few months, our challenges as a state cannot wait,” Lapid said. “What we need to do today is go back to the concept of Israeli unity. Not to let dark forces tear us apart from within.” Bennett’s coalition included a diverse array of parties, from dovish factions that support an end to Israel’s occupation of lands captured in 1967 and claimed by the Palestinians, to hard-line parties that oppose Palestinian statehood. Many of the parties had little in common beyond a shared animosity to Netanyahu. Often described as a political “experiment,” the coalition made history by becoming the first to include an Arab party. Bennett listed his government’s accomplishments, including passing a national budget for the first time in three years and leading the country through two waves of the coronavirus without imposing a lockdown. Under his watch, Israel’s tense border with the Gaza Strip remained largely quiet, though tensions with the Palestinians escalated in east Jerusalem and the occupied West Bank. His Arab partner, the Islamic Ra’am party, secured unprecedented budgets to fight poverty, neglect and discrimination in Israel’s Arab sector. On the international stage, Bennett repaired Israel’s bipartisan standing in Washington, which suffered after Netanyahu’s close ties with former President Donald Trump. He deepened fledgling ties with Gulf Arab countries, repaired frayed relations with Egypt and Jordan, and claimed to have prevented the United States from reviving an international nuclear deal with Iran. Bennett even briefly emerged as a mediator in the Russia-Ukraine war. Despite its successes, the coalition eventually unraveled, in large part because several members of Bennett’s own hardline party objected to what they felt were his pragmatism and moderation. Netanyahu, meanwhile, whipped up the opposition by accusing Bennett of cooperating with “terror supporters”—a reference to his Arab partners in the coalition. A Netanyahu supporter was arrested last month on suspicion she sent death threats and bullets to Bennett’s family in the mail. Palestinian citizens of Israel make up about 20% of the country’s population but are often seen as a fifth column and have never before been part of a coalition. Although Netanyahu himself had also courted the same Islamist party last year, the criticism appeared to make some of the hardline members of Bennett’s coalition uncomfortable. The final blow to the government was the looming expiration of a law that grants Israel’s West Bank settlers special legal status. The law underpins separate legal systems for Jews and Palestinians in the West Bank, a situation that three prominent human rights groups say amounts to apartheid. Israel rejects that allegation as an attack on its legitimacy. Parliament had been set to extend the law earlier this month, as it has done for the past 55 years. But the hardline opposition, comprised heavily of settler supporters, paradoxically voted against the bill in order to embarrass Bennett. Dovish members of the coalition who normally oppose the settlements voted in favor in hopes of keeping the government afloat. But a handful of coalition members, including Arab lawmakers as well as hardline nationalists, either abstained or voted with the opposition to defeat the bill and cause the coalition to rip apart. Bennett, a former settler leader, said there would have been “grave security perils and constitutional chaos” if he had allowed the law to expire at the end of the month. “I couldn’t let that happen,” he said. Bennett and Lapid will now present a bill to dissolve parliament in the coming days. Once that passes, the country will head to an election, most likely in October. The settler law remains in effect and will not expire if the government collapses. Netanyahu described the imminent dissolution of parliament as “great tidings” for millions of Israelis, and he said he would form “a broad nationalist government headed by Likud” after the next election. But he also vowed to try to form an alternative government before the parliamentary vote by trying to persuade some of his opponents to support him. The odds of that appeared slim, given their past never to serve under Netanyahu while he is on trial. “There’s a need to rehabilitate the state of Israel, and we have the ability to do it,” Netanyahu said. The dissolution threatened to overshadow a visit by President Joe Biden scheduled for next month. A statement issued by Biden’s National Security Council said he “looks forward to the visit.” Israel held four inconclusive elections between 2019 and 2021 that were largely referendums about Netanyahu’s ability to rule while on trial for corruption. Netanyahu denies wrongdoing. Opinion polls have forecast that Netanyahu’s hardline Likud will once again emerge as the largest single party. But it remains unclear whether he would be able to muster the required support of a majority of lawmakers to form a new government. Yohanan Plesner, president of the Israel Democracy Institute, said Monday’s developments were “a clear indication that Israel’s worst political crisis did not end when this government was sworn into office.” The Associated Press Writer Ilan Ben Zion contributed to this report.

BusinessMirror

www.businessmirror.com.ph

Wednesday, June 22, 2022

Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT

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

TRUSTLITE INDUSTRY CO LTD. EZP Bldg. 3, CPIP, Batino, City of Calamba, Laguna

June 22, 2022

HUANG, YI-CHEN

Basic Qualification:

Assistant Supervisor

With College Diploma and experience in administration management

Brief Job Description: Salary Range:

NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S) Notice is hereby given that the following Companies/Employers have filed with this Regional Office application/s for Alien Employment Permit/s: NO. 1

ESTABLISHMENT ARKRAY INDUSTRY, INC. Lot 22 Ph 1A, FPIP-SEZ, Santa Anastacia, City of Sto. Tomas, Batangas

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

MORIWAKI, HIKARU

Basic Qualification:

Logistics Manager

Can speak Japanese fluently, licensed Industrial Engineer

LIZARDBEAR TASKING INC. 2/f, Lumina Point Information Technology Center, Tanzang Luma I, City of Imus, Cavite

Plan, organize and assist schedule assigned by General Manager

Php30,000 - Php59,999

PRAKASH, ANAND

Basic Qualification:

Director Of Workforce

10 years of experience in end-to-end work force management process

Brief Job Description: Salary Range:

Brief Job Description:

Oversee the operational and fiscal activities of the work management team.

Php150,000 - Php499,999

YANG, XIAOYIN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Salary Range: Collaborate with other departments and stakeholders to identify and maintain resources needed to establish and provide an effective supply chain. 2

ASIA SCOPRO OPTICS CO., INC. Unit 2, 114 Integrity Ave., CIP I-SEZ, Canlubang, City of Calamba, Laguna

Php150,000 - Php499,999

CHANG, SHIH-WEI

Basic Qualification:

Product Material Control Manager

With proven experience in production planning and material control

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Brief Job Description: Salary Range:

Brief Job Description:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

ZHOU, JIANLIN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Salary Range:

BRICKHARTZ TECHNOLOGY INC. Lot 4044, Molino Blvd., Niog III, City of Bacoor, Cavite

Responsible for the production planning, supply chain and material control.

Php30,000 - Php59,999

HERRY YULIANUS JONG

Basic Qualification:

Indonesian Customer Relations Officer

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Has excellent problem-solving and communication skills in Indonesian, with related BPO experience

Salary Range:

Brief Job Description:

BRICKHARTZ TECHNOLOGY INC. Lot 4044, Molino Blvd., Niog III, City of Bacoor, Cavite

Brief Job Description:

Handle the concerns of the people who buy the company’s products or services

Salary Range:

CHEN, TAO

Basic Qualification:

Mandarin Customer Relations Officer

Has excellent problem-solving and communication skills in Mandarin, with related BPO experience

Php30,000 - Php59,999

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

RINO

Basic Qualification:

Indonesian

Able to speak, read and write Chinese language

Brief Job Description:

BRICKHARTZ TECHNOLOGY INC. Lot 4044, Molino Blvd., Niog III, City of Bacoor, Cavite

Salary Range:

Handle the concerns of the people who buy the company’s products or services

Salary Range:

TRAN THI KIM ANH

Basic Qualification:

Vietnamese Customer Service

At least college level and able to speak, read write and type fluently in Vietnamese language.

CONTINENTAL TEMIC ELECTRONICS (PHILS.), INC. 16 Ring Road, LISP 2-SEZ, La Mesa, City of Calamba, Laguna

DONG SEUNG INCORPORATED Panorama Bldg., 1&2 South Ave., Phase IV, CEZ, Tejeros Convention, Rosario, Cavite

Offer full range of customer service to employer and clients

Salary Range:

PETRI, MICHAEL

Basic Qualification:

Head Of Supply Chain Management

Knowledge of existing industry standards, processes and internal decision-making structures, knowledge of rick management, change management, review and release management

Brief Job Description:

FURUKAWA ELECTRIC AUTOPARTS PHILIPPINES, INC. 113 East Main Avenue, Lot 3-5, Ph IV, LTI, Loma, City of Biñan, Laguna

J.P. MARZAN PROJECT VENTURES INC. Pulo- Diezmo Road, Pulo, City of Cabuyao, Laguna

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Php30,000 - Php59,999

Provide support to all segments and other department to ensure on time delivery of purchases on their materials, equipment tools; Develop the Manufacturing Concept based on product architecture and equipment matching them to state of the art production process and technologies

Salary Range:

KIM, HYANG HEE

Basic Qualification:

Sample Manager

With years of experience in the same field

Php500,000 and above

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Brief Job Description: Salary Range: Directly supervise sample makers

Php30,000 - Php59,999

TSUKAMOTO, MASAYUKI

Basic Qualification:

Assistant Section Manager

Strong-responsibility, planning and organizational skills, with strong analytical problem solving & decision making

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Binakayan-Aplaya, Kawit, Cavite

Brief Job Description: Lead small team in execution of daily production task, work scheduling, training, safety and manage maintenance and continuous improvement

Php30,000 - Php59,999

LY NHU QUYNH

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NGO PHI THINH

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service queries

Php30,000 - Php59,999

PHUNG THI DUONG

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

TRIEU THI BEN

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

CHAO, TZU-HSIN

Basic Qualification:

Project Manager

With the ability to work effectively in a team or individual and 3 to 5 years work experience in residential projects.

Php30,000 – Php59,999

Brief Job Description:

Manage incoming calls and customer service inquiries

Salary Range: Php60,000 - Php89,999

MORI, TETSUYA

Basic Qualification:

Supervisor

Good communication skills in Tagalog and English

TERSHIN CONSTRUCTION INC. Pantay Road, Sitio Bukal, Tandang Kutyo (Pob.), Tanay, Rizal

Brief Job Description: Brief Job Description: Salary Range:

KEYENCE PHILIPPINES INC.

Help the marketing sales department with regards to the project base contract of employer

Php90,000 - Php149,999

TSUKAGOSHI, TAKUMI

Basic Qualification:

Sales Manager

Graduate of a Bachelor’s Degree in Business and fluent in both Japanese and English language

Bldg. 6, Panorama Compound 6, Lot 3, Block 5, LTI Annex, Biñan, City of Biñan, Laguna

SCHNEIDER ELECTRIC LOGISTICS ASIA PTE. LTD. APC Admin Bldg., Lot 1 Blk 5 Ph2, PEZA, Silangan I, Rosario, Cavite

Brief Job Description: Develop and execute business plans to achieve sales targets set by the President

Salary Range:

ZUA, RUBEN STEFANI ANDRE

Basic Qualification:

Premium & Technical Services Representative

Must be eloquent in English language, French, Spanish, Portuguese, German, Korean or Japanese. Candidate must possess a bachelor’s degree preferably in Engineering (EE, ECE) or IT related courses or experience.

Brief Job Description: Support customer inquiries related to product pre-sales & post sales, service inquiries and other requests within the defined Zone or Countries.

Plan, organize and staff key field position to accommodate the specific project requirements

Php30,000 – Php59,999

Php30,000 - Php59,999

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE Regional Office IV-A located at 3rd and 4th Floors, Andenson Building II, Parian, Calamba City, Laguna, within 30 days after this publication. Please inform DOLE Regional Office IV-A if you have any information on criminal offense committed by the foreign nationals.

Php150,000 - Php499,999

Salary Range:

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph

A10

Father

A BusinessMirr

Wednesday, June 22, 2022 | www.businessmirror.com.ph

Fatherhood in the next normal I

By Leony R. Garcia

N 1909, Sonora Dodd of Spokane, Washington proposed that a day be set aside to celebrate fathers. In 1972, US President Richard Nixon officially declared the third Sunday of June as Father’s Day and made it a national holiday. Since then, Father’s Day has been spent honoring fathers and celebrating fatherhood, paternal bonds, and the influence of fathers in society. People have varying reasons for the celebration. One reason is because fathers are seen as heroes in their commitment to provide for their families, often with great sacrifice. Secondly, fathers are considered the head of their households and lead their families to God. Thirdly, fathers are supposed to provide their families with a sense of safety and protection. Ultimately, every dad, or at least every good dad, sees fatherhood in a similar way. It’s about nurturing what’s best in their children. They want to set an example for them, and most of all, they want their children to feel loved and accepted for who they are. First-time dad For Dr. Glen Denmer R. Santok, urologist at the Asian Hospital and Medical Center, being a father is not just about teaching your child how to read the ABCs, singing lullabies and provide for his financial needs. Rather, it is the experience of being with him in every little milestone he has to go through. “It’s your journey together as

a father and child that brings immeasurable joy for me as a father and that makes my seven-month experience amazing,” he said. During BusinessMirror’s Coffee Club online forum titled “Fatherhood in the Next Normal,” Dr. Santok was happy to share his experiences as a husband and as a new father. He said he accompanied his wife during prenatal check-ups and he was allowed to enter the delivery room when their baby was born for a limited period of time. That momentous event was a great ex-

perience for him, “But I can’t really explain the happiness I felt during that time,” he said. Quarantined cool dad It isn’t every day that dads spend so much time at home and be with their kids. The pandemic made that possible for many dads. Meanwhile, Aristotle Ferrer, President, and Founder, of Spark App Technologies, Inc., shared a different experience during the pandemic. A home body, Ferrer said he found it cool staying at home during the lockdown “because I

love to be with my kids and family.” However, as the movement restrictions and the pandemic went on, he also had his share of worries as a provider for his family. Sparks App is a system integrator. “We are in the IT industry, we provide products, we are a business partner of Lenovo, Microsoft and anything IT related products. There were so many clients affected by the pandemic. I also thought of how I would be able to pay for the salaries of my staff,” he said. Ferrer said a big challenge for him during that time was his el-

dest son who did not enjoy online classes. The young Ferrer wanted to interact with other people. “But by the Grace of God, everything turned out well,” he said. “For those who want to become a father, please bear in mind that marriage has three gifts. One, is the gift of companionship. Two, marriage is ordained by God. Three, there must be a purpose. Ika-nga ang kasal ay hindi kanin na kapag napaso ay iluluwa,” Aries said. The marketing dad Like Aries, Armin Brian Sebial, co-

founder, INFC New Marketing and Communications, also experienced the challenges of the pandemic first-hand. As he puts it, “The pandemic wasn’t easy, there were many challenges. The transition to online schooling wasn’t easy, too. It took a lot of time and a lot of patience to adapt and adjust to the new normal. But fortunately, we overcame them all.” “Our business was affected, too. But because it was in the digital environment by nature, we were able to adjust and everything else went alright all throughout the pandemic. Naging okay naman,” he said. Until now, Sebial said, the family does not go out that much, even to buy groceries. He said his family relies much on helpful Apps like Grab, Pabili, and other services. Among the adjustments they made as a family, especially as the head of the family, was to make sure that everyone is safe. “I make sure that everyone is safe specially if I come home from doing any errands. I will take a bath immediately, leave my shoes outside of the house, among other things. I guess that’s the major adjustments that we made,” he said. “Sa lahat ng nagpaplano, ang pagiging tatay at pagiging asawa are more than a decision than an emotion. It’s a commitment that you need to stick to and fulfill. Lagi nating pina-pangarap ang magandang society, then you need to start with your family. Show them a good example and everything will follow,” Armin concluded.

Striking a work-life balance for dads T

HE month of June is dedicated to fathers and American Crew listened to corporate dads talking about their way of life, struggles, and how they can manage to keep all the hats and rocking it. Let us learn from these dads and get inspiration on how to level up your dad game! First, on the list is a top salesman for the world’s most prestigious and luxurious automotive and real estate brands. Kerwin Michael O, is not only an exemplary salesman but he also tops being a dad as his main motivation to strive hard is to provide for his family. In his line of work, O gets to meet a lot of people

and one of the keys in closing a sale is looking your best all the time. That is where the American Crew Forming Cream comes in

as it provides hold, excellent pliability, and a natural shine for the hair. This styling product contains glycerin that softens and swells

the hair shaft making hair appear thicker. Surely, there’s an American Crew product that is perfect for every dad. Visit their local shopping site on newsummitcolors.com. We’re also using this opportunity to greet O in his most recent achievement as 2021’s Ayala Land Premier Top #1 Overall in Sales. Next is Ayala Malls, Regional Manager, Luke Lee, our first question to him is how he can manage work and family very well. He answered: “I draw my strength and determination from my faith and my famiLEE. One of the great challenges of our generation is juggling work and family so I reflect a lot on

how to integrate my duties at work with my responsibilities at home.” “My career growth shouldn’t come at the expense of my family, nor should being present at home compromise my ability to deliver the desired results at work. I’m blessed to have a very supportive family at work and at home,” Lee continued. Young achiever As a young achiever. Lee mentioned that dads like him should practice self-care, and one of which is finding a skincare routine that fits well with your active lifestyle, and we recommended the American Crew Acumen Invigorating Body Wash to him because the AC ACUMEN COMPLEX contains vitamin combining antioxidant and moisturizing agents, followed by American Crew Acumen Energizing Hydrating Gel, as it is powered by Hyaluronic Acid to improve skin hydration and Ginger Root Extract to restore skin’s elasticity. Both American Crew Acumen products are best for that well-groomed and invigorated you, ready to take on the corporate world. Finally is Sven Group’s Executive Digital Director and President, Arvi Villacin. Villacin, has been in the digital industry for 14 years,

and about seven years ago, he landed a significant job being a dad. With his many hats, it is interesting to know how Villacin manages to be on top of his game. “Juggling between work and family is a daily mindful balancing act for all work-in-progress parents. Life is also work, which we never stop doing, and parenting can be the greatest motivator for us to continue to become better individuals in multiple aspects,” mentioned Villacin. As inspiring as Sven’s Chief’s success, Villacin accepts that family life and work are stressful. As stress gets into you, there could never be a second-best option for a bathroom essential than American Crew’s 3 in 1 Tea Tree, not only because of its refreshing scent but because it leaves hair dandruff free because of its tea tree component and allows the skin to stay acne-free because the exact product has anti-bacterial properties. After hearing their stories, we invite everyone to make this month extra special for our corporate dads by telling them how much their efforts are appreciated and keeping them in style and well-groomed with American Crew’s products made for Dads available on Shopee Mall - AmericanCrewPH.

rhood

ror Special Feature

www.businessmirror.com.ph | Wednesday, June 22, 2022 A11

Men told to get checked for prostate cancer

By Leony R. Garcia

ITING the 2020 data from the Global Cancer Observatory (GCO), the Department of Health (DOH) said that prostate cancer is the fifth leading cancer site and the third leading cause of cancer deaths among Filipino males. In 2015, the Philippine Cancer Society said that about six in ten cases are diagnosed in men aged 65 or older. The average age at the time of diagnosis is 66 years old. The health department explained that prostate cancer can often be detected early through testing such as using a prostate-specific antigen (PSA) or through a digital rectal exam (DRE). It further said that knowing the right information is the most important weapon the public has against prostate cancer and all other public health concerns. While there’s no absolute way to prevent prostate cancer, there are

some things you can do that may lower your risk. Maintaining a healthy body weight, getting regular exercise, and paying attention to what you eat and drink all play key roles. Aside from the celebratory Father’s Day month, June is also Prostate Cancer Awareness Month. Thus, BusinessMirror’s recent Coffee Club session turned out to be very interesting and informative with the guesting of

the esteemed Dr. Glen Denmer R. Santok, a urologist at Asian Hospital and Medical. Here are some of the questions that were asked during the online forum:

Who are at risk of getting prostate cancer? Men aged 45 to 75 years old with a family history of prostate cancer and their relatives up to 2nd degree of consanguinity are at risk. And the risk includes other cancers like colorectal and pancreatic. These men are encouraged to see the urologist during this time. What tests do men have to undergo? The basic screening for prostate cancer is called the digital rectal exam along with the prostate-specific antigen and when you get to combine these two, specificity and sensitivity increases the detection of prostate cancer. What symptoms should our men look out for? Prostate cancer rarely causes symptoms at an early stage so, basically, they feel nothing. The presence

Asian Hospital introduces prostate screening package

ROSTATE cancer is the most common cancer among men. It occurs when malignant tumors form in the prostate, the small walnut-shaped gland located in front of the rectum that produces the seminal fluid that nourishes and transports sperm. Few men have symptoms in the early stages, and it is often detected by a doctor during a routine check-up. However, statistics reveal that six out of seven prostate biopsies come out benign. Early detection and prompt treatment during the early stages of prostate cancer

can provide higher cure rates. To promote early screening for prostate cancer, Asian Hospital and Medical Center has come up with three screening packages. The first package consists of a consultation with a urologist and digital rectal exam (DRE) and this costs P1,300. The second package includes the Prostate-specific Antigen (PSA) test and prostate ultrasound and costs P7,000. The third package is the Prostate Biopsy Package which costs P52,250. Included in the package are the doctors’ professional

fees, BK ultrasound guided, six bottles of specimen and hospital charges. Philhealth members can avail of additional discounts for this package. Additional costs not covered by the package will be charged to the patient. These packages are not subject to PWD or senior citizen discounts except for additional items outside of the package. For more information or to book an appointment, please call the Asian Hospital Hub at (02) 87771-9000 local 5913 or email infohub@asianhospital.com.

Learn the science behind hair regrowth

ALDING or hair loss in males can negatively impact their self-esteem. At least 50 percent of Filipino men would experience hair loss by the age of 40. Thus, we often witness our father, uncle, grandpa and even kumpares gradually becoming bald. Considered the main root cause of hair loss in men, Dihydrotestosterone or DHT binds up in hair follicles, preventing them from receiving essential nutrients needed to produce healthy new hairs. Commonly, DHT’s precursor begins as testosterone in the body. Products like Medic Hair For Men helps prevent the conversion of testosterone into DHT safely and effectively. It combines organic

ingredients that are essential in promoting male hair growth: namely Saw Palmetto Extract and Ginseng Extract. It is a natural and straightforward approach when it comes to male baldness. Among online shoppers, visible results are noticeable in two to four months of regular use! Celebrities like Alex Calleja have also sworn to the product’s effectiveness in stimulating their scalp for hair regrowth. Hair loss? May pag-asa pa yan, ‘pre! Medic Hair For Men is available at Shopee Mall, LazMall and nutriplus.com.ph for P1,790 per bottle, good for one to two months of regular use! Medic Hair is also available on Amazon for US shoppers.

SAY HELLO TO A HEALTHY TUMMY

ITH the hot weather that the country has been experiencing, many people develop an upset stomach, stomach aches, loose bowel movement (LBM) or gastroenteritis. This is specially true if contaminated food or water is consumed. Some bacterial infections amy also cause similar symptoms and this is referred to in medical terms as dysbiosis. As a first aid for tummy aches, LBM or to maintain your healthy gut flora, it is recommended that you take a probiotic drink like like Emuflora. Emuflora is a ready-to-drink probiotic supplement containing billions of bacillus clausii and bacillus subtilis spores that are combined to provide a dose of good bacteria to fight off bad ones. Emuflora contains two billion spores of bacillus clausii and one billion spores of bacillus subtilis. This combination helps improve digestion, supports immunity buildup and works as an excellent adjuvant therapy to effectively control. It also manages diarrhea and promotes overall wellbeing by supporting anti-bacterial and anti-viral activity to fight against infections. It is a tasteless and odorless oral suspen-

sion. All you have to do is to simply shake the mini bottle, twist the cap and consume directly after opening. Emuflora comes in a handy mini bottle and is formulated with no sugar, making it a suitable choice for those who are conscious of their gsugar intake. Emuflora is a registered product and

approved by the Food and Drug Administration of the Philippines as an over the counter food supplement. Emuflora is exclusively distributed by Preventia Healthcare, Inc. and is available at Mercury Drug stores nationwide. Have a healthy gut and be a healthier you.

of symptoms may indicate advanced stage already like difficulty in urination, blood in the urine, and sometimes blood in the semen. There are worst symptoms like bone pain, fractures, anemia, and lower extremity edema which may be seen in advanced diseases like a metastatic disease. Basically, there are no symptoms at an early stage and the very key is screening which means testing the disease in healthy asymptomatic men those who are actually perfectly well but in the age group of 45 to75. What are ways to avoid prostate cancer? No matter what you do, no matter what you eat it doesn’t affect the outcome. But based on recent studies in America and Europe, they are linking obesity and smoking towards getting prostate cancer but, it’s not as strong or good statement in what family brings. It’s still genes. How often should a man be urinating? How many times does one need to? The frequency should be less than two in an hour. My dad has stage 2 prostate cancer. He is 79 years old. Do you have any advice for him? If your dad is 79 years old and is still strong, we can recommend all the options like robotic surgery,

laparoscopic surgery, or open surgery of the prostate. But if your dad is frail and he will not be able to tolerate surgery, we have the option to do radiation therapy. What causes urinary retention in older men? How are they treated? Urinary retention is when your patient tends to retain more than 50 cc of his urine. For as long as it’s 50cc, we can treat it medically. However, if it tends to be more or the urine that comes out become lesser than the amount being retained in your bladder, that’s a different story. Because urinary retention is an indication for surgical treatment for prostate enlargement. So, the patient needs to be evaluated by a urologist if he develops urinary retention. I just heard that a friend in his 60s died of complications during prostate surgery. What could be the possible complications? He had a blood clot, but I’m not sure of this. In any surgery, there are complications, risks, and benefits that the patients might get. But we don’t know what is the extent, what is the stage of the disease, whether there is something challenging that caused a blood clot, etc. But in any case, before you do surgery

you have to weigh the risks and the benefits and if it is worth taking. I can’t really comment on how he had this complication because I have not seen the patient but my comment is that when you diagnose patients before doing surgery or offering treatment options, all should be discussed and there’s should be an evaluation in order for us to prevent this kind of adverse scenario in the end.

Can one get prostate cancer from biking? Definitely, no. Prostate cancer stems from genetic problems. Can you give us tips and your pieces of advice to our dads in the audience? Aside from the most common pieces of advice from all your doctors like eating a balanced diet, we encourage every man to get screened at an appropriate age. The very key is screening which means testing for the disease in healthy asymptomatic men aged 45 to 75. And we actually offer free consultation and DRE for men ages 45 to 75 at different hospitals all over the Philippines. However, for each institution, there are prostate screening packages which consists of consult, DRE, ultrasound, and biopsy, if necessary. We have this at Asian Hospital.

BusinessMirror

A12 A6 Wednesday, June 22, 2022

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

24 INCH GAUGE CONSTRUCTION INC. L4 Blk. 4, Near Kay Buboy Bridge, San Dionisio, City Of Parañaque

HE, XINGZHEN Marketing Specialist 1.

Brief Job Description: Responsible for coordinating with other marketing and sales professionals to implement innovative campaigns for branding or product launches.

Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive environment; Should have a bachelor’s degree in journalism, marketing, communications or a related field; Good communication and interpersonal skills

MAKKIE KHALED, MAZEN Surveyor Manager

10.

Salary Range: Php 30,000 - Php 59,999 8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1, Pitx Kennedy Road, Tambo, City Of Parañaque

CONG HIN MY Customer Service Representative Mandarin Speaking 2.

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

CONG HIN NHUC Customer Service Representative Mandarin Speaking 3.

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

DAO THI DUNG Customer Service Representative Mandarin Speaking 4.

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

DUONG DINH DAI Customer Service Representative Mandarin Speaking 5.

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

LY CHU NGOC Customer Service Representative Mandarin Speaking 6.

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

VONG CUN CU Customer Service Representative Mandarin Speaking 7.

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

WANG, YINHUA Customer Service Representative Mandarin Speaking 8.

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

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

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

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

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

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

Basic Qualification: Minimum of 15 years’ experience in civil construction in general, with focus on highways, bridges and special structures. Excellent organizational skills with teams of 5 or more members. Demonstrated ability to work independently to organize and prioritize demands, handle multiple complex tasks simultaneously, set and meet deadlines and follow-through within a fast-paced environment with multiple and competing demands. With attention to detail Salary Range: Php 150,000 - Php 499,999

QUALIFICATION AND SALARY RANGE

No.

Brief Job Description: Transporting passengers and cargo, determining the safest routes, analyzing flight plans and weather conditions, calculating fuel and inspecting systems and navigation equipment.

12.

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

DATACLICK INTERNATIONAL CORP. E. Rodriguez St., Roxas Blvd. St., Barangay 3, Pasay City

GURUSAMY, KESAVAN Associate 23.

Basic Qualification: Completion of the required number of training hours and excellent leadership skills, situational awareness, and professionalism.

RAMASAMY, BALAJI Sr. Associate - Projects 24.

25.

16.

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

CHOI, SEUNGWON Pilot

Basic Qualification: Licensed Pilot

Brief Job Description: Operates an ATR aircraft for commercial flight

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

HOANG MINH HIEU Gaming Support Specialist

Brief Job Description: The mandarin mechanical project administrator will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

BAO, MEILING Construction Manager Brief Job Description: Project supervision, organize admin staff

MU, ZHONGHUA Construction Tunnel Expert Brief Job Description: Supervision of tunnel construction

26.

Basic Qualification: Proven experience as mandarin mechanical project administrator, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

18.

19.

20.

21.

22.

Basic Qualification: Construction Management Experience

27.

28.

Basic Qualification: Hydraulic Specialist

Brief Job Description: Provide expertise & guidance of hydraulic projects

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

Brief Job Description: Control all stages of projects budget & expenditures

Basic Qualification: Bachelor Degree, Construction Management Experience

Basic Qualification: TBM Expert

Brief Job Description: Construction experience, TBM expertise

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

BAI, AIBIN Tbm Operation Supervisor Brief Job Description: Identify the risk and mitigation measures

BAI, YULONG Tbm Operation Supervisor Brief Job Description: Identify the risk and mitigation measures

MENG, MEILE Technical Manager Brief Job Description: Establish and implement training process

YU, RONGFANG Technical Manager Brief Job Description: Establish and implement training process

29.

Basic Qualification: Tunnel Construction Experience & TBM Expertise

30.

31.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor Degree, Construction Management Experience Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time. TONG CHU BINH Gaming Support Specialist

32.

Basic Qualification: Expertise in healthcare domains like enrolment, provider, claims, medicare & medicaid based SaaS application Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Expertise in mainframe (JCL, COBOL, VSAM, CICS, DB2, & Rexx) Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Excellent communication skills in chinese, both spoken and written. Salary Range: Php 30,000 - Php 59,999

DEVOPS OUTSOURCING INC. Unit-6a 6/f Gma Loubel Plaza, 7514 Bagtikan St. Cor. Chino Roces Ave., San Antonio, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor Degree, Construction Management Experience

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Tunnel Construction Experience & TBM Expertise

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

YAN, SHENGXIN Tbm Mechanic

Basic Qualification: Bachelor Degree, Multi-Tasking, Tunnel Construction Expert Salary Range: Php 30,000 - Php 59,999

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

ZHAO, MEILONG Hydraulic Specialist

WANG, JIANDONG Quantity Surveyor Supervisor 17.

CHINA INTERNATIONAL WATER AND ELECTRIC CORP. (BRANCH OFFICE) 5/f, Two E-com Mall Of Asia Complex Bldg., Harbor Drive St., District 1, Barangay 76, Pasay City

15.

Brief Job Description: Acts as liaison between business partners, clients and various application teams to resolve queries raised by the business or client

DO DANH HUNG Gaming Support Specialist

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

14.

Brief Job Description: Prepare test plan documents, test strategy, heat map, requirement traceability matrix documents for every release

XU, XIAOBING Mandarin Mechanical Project Administrator

QUALIFICATION AND SALARY RANGE

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

CHINA HARBOUR ENGINEERING COMPANY 5/f Section E Ramon Magsaysay Center, 1680 Roxas Blvd., 076, Barangay 699, Malate, City Of Manila

13.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CEBGO, INC. Cebu Pacific Bldg., Domestic Rd., Barangay 191, Pasay City

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

ACCIONA CONSTRUCTION PHILIPPINES INC. 23/f Tower 2, The Enterprise Center Tower 2, Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

Brief Job Description: Participate in development of Survey Department Organizational Chart. Develop procedures and criteria for survey works. Participate in decision making regarding methodology and instrumentation to be used during all phases of the project, including proposals or tenders for subcontracted works. Analyze initial data received from clients, engineering firm or other third-party companies.

11.

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

JUANDO RIBE, ANTONIO Surveyor Manager

PELLAN, SEAN, MAUI Seaplane Pilot

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

ESTABLISHMENT / ADDRESS

AIRTRAV CORPORATION Metro Asia Hangar Bldg., Domestic Road St., Barangay 191, Pasay City

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

www.businessmirror.com.ph

ONTANAYA RINCON, JULIAN Software Developer

33.

Brief Job Description: 1. Top-notch programming skills and in-depth knowledge of modern HTML/CSS, React, Angular & Flutter 2. With a solid understanding of how web applications work including security, session management, and best development practices. 3. Coding from scratch fully responsive sites from PSD’s or Invision using best coding practice and modern coding frameworks.

Basic Qualification: To provide business management and consulting Salary Range: Php 60,000 - Php 89,999

EMERALD WIRELESS TECH INC. 28th/f Arthaland Century Pacific Tower, E-square Information Technology Park, 25th St. Cor 5th Ave., Bonifacio Global City, Fort Bonifacio, City Of Taguig

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHU, PINGXIAN Chinese Regional Sales Manager 34.

Brief Job Description: “Responsible for the development and maintenance of the regional customer relations Assist customer with inventory management “

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: “Fluent in Mandarin and English language Bachelor’s degree in business administration Strong time management skills enthusiasm for consumer marketing”

35.

Brief Job Description: Handling all air export shipments, assists in planning shipment and sending DSR daily.

LUO, QIJIAO Customer Service Representative - Chinese Speaking 47.

36.

Brief Job Description: Customer service representative (csr).

48.

Basic Qualification: Shall be able to work on ad hoc operations reposts and assist in shipment planning. Salary Range: Php 500,000 and above

Basic Qualification: High school graduate in chinese curriculum, can speak and write fluent chinese mandarin, can operate computer mandarin characters.

37.

38.

Brief Job Description: Customer service representative (CSR)

LIEU DUY LINH Customer Service Representative (csr) Brief Job Description: Customer service representative (CSR)

Basic Qualification: High School Graduate in Chinese Curriculum; Can Speak and Write Fluent Chinese Mandarin; Can Operate Computer Mandarin Characters.

49.

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

39.

NGUYEN THI YEN Customer Service Representative (csr) Brief Job Description: Customer service representative (CSR)

Basic Qualification: High School Graduate in Chinese Curriculum; Can Speak and Write Fluent Chinese Mandarin; Can Operate Computer Mandarin Characters.

50.

40.

Brief Job Description: Customer service representative (CSR)

51.

52.

41.

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

Basic Qualification: Proven experience as project manager, excellent communication, interpersonal and presentation skills.

PHAM THI MINH HAI Customer Service Representative Mandarin Speaking 53.

42.

43.

LI, ZHENWEI Call Center Agent Brief Job Description: Customer Service

54.

ZHANG, YU Call Center Agent Brief Job Description: Customer Service SONG, BINGCHEN Chinese Customer Service

44.

Brief Job Description: Assisting clients by providing information on services

45.

55.

Basic Qualification: Can speak mandarin

Brief Job Description: Maintain accurate sales record

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

56.

57.

46.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

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

GENX SPORTS & MEDIA PRODUCTION CORP. 11/f Aseana I Bldg., Bradco Ave. Aseana City, Tambo, City Of Parañaque

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

WU, WEI Chinese Speaking Program Designer 58.

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

ZHENG, BOYANG Chinese Speaking Program Designer 59.

GAO, ZUHENG Chinese Customer Service Representative

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

WOON JIA MING Chinese Speaking Program Designer

GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for, fluent in Chinese Mandarin is an advantage.

Brief Job Description: Utilize computer technology to handle high call volumes

LIM FONG PENG Chinese Speaking Program Designer

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

LI, ZIXIN Mandarin Operations Specialist

Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills.

No.

61.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills.

62.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills

63.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION YE, KUNLIANG Mandarin Speaking Customer Service Representative Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling. ZHOU, PAN Mandarin Speaking Customer Service Representative Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling. ZHUO, YUNYU Mandarin Speaking Customer Service Representative Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills

CHEN, JUJING Customer Support Specialist 64.

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

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

DANG XUAN TRUONG Customer Support Specialist 65.

Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

HE, GUOSHENG Customer Support Specialist 66.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service

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

HO NHIT LIN Customer Support Specialist 67.

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

60.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

Basic Qualification: Superior Customer Service Skills, Nice to Have Experience Working With Online Gaming/ Offshore Gaming Industry or Less Experience but a Good Attitude and Motivation to Learn, Excellent Communication Skills in Chinese, Both Spoken and Written

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: Ability to multi-task, prioritize, and manage time effectively HUYNH MY LE Customer Support Specialist

Salary Range: Php 30,000 - Php 59,999 68.

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

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

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

JIANG, YAOXUAN Customer Support Specialist 69.

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

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service

LI, FENG Customer Support Specialist

Salary Range: Php 30,000 - Php 59,999 70.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

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

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications

Basic Qualification: With Atleast 6 Months Customer Service Experience/Good in Oral Communication and Written

INTEGRITY GLOBAL GROUP, INC. 2/f-3/f Ayala Malls Circuit, A.p. Reyes Ave., Carmona, City Of Makati

LIU, XIAOKAI Mandarin Speaking Customer Service Representative

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications

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

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

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

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

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications

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

Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

ITECHNO SPECIALIST INC. 7/f Aseana I Bldg., Bradco Avenue Aseana Business Park, Tambo, City Of Parañaque

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

INFOVINE INC. 9/f Y Tower, Moa Complex, Coral Way Drive Cor. Macapagal, Barangay 76, Pasay City

Basic Qualification: Fluent in Oral and Written Mandarin and English

FLYING FUTURE SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati

Brief Job Description: Build sustainable relationship if trust through open and interactive communication in mandarin speaking.

LUC MY QUYNH Chinese Customer Representative

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

QUALIFICATION AND SALARY RANGE

GOOD FUTURE TRAVEL AND TOURS CORP. 5/f Regray Bldg., 705 J.p Rizal St., Valenzuela, City Of Makati

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

Brief Job Description: Build sustainable relationship if trust through open and interactive communication in mandarin speaking.

QU, DAOHANG Customer Service Representative Mandarin Speaking

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

FLYING DRAGON NETWORK PHILIPPINES INC. Ri Rance Ii Bldg., Block 2 Lot 3 Aseana City, Tambo, City Of Parañaque

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs

A13

ESTABLISHMENT / ADDRESS

GLOBALLGA BUSINESS PROCESS OUTSOURCING, OPC Ground Level, Level 2-5 Floor, Silver City 4, Ortigas East, Ugong, City Of Pasig

FIBERHOME PHILS., INC. U-19d 19/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati YANG, YANG Project Manager

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs

YONG KIAN FUNG Customer Service Representative - Malaysian Speaking

Basic Qualification: High School Graduate in Chinese Curriculum; Can Speak and Write Fluent Chinese Mandarin; Can Operate Computer Mandarin Characters Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs

YONG JI THART Customer Service Representative - Malaysian Speaking

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

TIAN, AIFU Customer Service Representative (csr)

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs

JOO SIN YAW Customer Service Representative - Malaysian Speaking

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

Basic Qualification: High School Graduate in Chinese Curriculum; Can Speak and Write Fluent Chinese Mandarin; Can Operate Computer Mandarin Characters

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs.

CHUNG CHUN MING Customer Service Representative - Malaysian Speaking

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

GUAN, JIANTING Customer Service Representative (csr)

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs.

ZHU, FEIYU Customer Service Representative - Chinese Speaking

FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower, Moa Coral Way, Barangay 76, Pasay City

ERWIN Customer Service Representative (csr)

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

EXPOLANKA FREIGHT (PHILIPPINES) INC. 4/f 5ecp004004, Five Ecom Center Bldg., Mall Of Asia Complex St., Barangay 76, Pasay City

SHABEER AHMADH, MOHAMED SUFIYAN Operations Specialist

No.

Wednesday, June 22, 2022

LIM GON YUAN Customer Support Specialist 71.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

BusinessMirror

A14 A6 Wednesday, June 22, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

THONG CAI TOAN Customer Support Specialist 72.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

No.

CLAESEN, DIETER Project Controls Specialist 82.

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

VO DUY TRUNG DUNG Customer Support Specialist 73.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

YANG, LEI Customer Support Specialist 74.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service

YU, LONG Customer Support Specialist 75.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

83.

ZHU, ZHENGYUAN Customer Support Specialist 76.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service

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

LI, XIDOU Gaming Support Specialist

77.

Basic Qualification: A passion for delivering excellent customer service, Excellent communication skills in Chinese, both spoken and written, Previous experience in a similar role in the offshore/ online gaming industry or less experience but a good attitude and motivation to learn. Salary Range: Php 30,000 - Php 59,999

YU, HAIYANG Gaming Support Specialist

78.

84.

JANG, DAE HEE Korean Marketing Consultant 79.

Brief Job Description: Track main industry trends in korean through blogs, micro blogs and forums College graduate, speaks and write fluently (korean, english and mandarin)

85.

LI, JIANBIN Visa Consultant

86.

80.

ALEXANDRE, FANNY MARIE Human Resources Manager Brief Job Description: Develop and Maintain the HR Management Plan.

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

GRIEK, PIETER Operations Superintendent 81.

Brief Job Description: Acts as the company’s representative to support management and operations.

Basic Qualification: Minimum 10 years of working experience on international dredging projects. Fluent in English and additional points for Dutch and French. Salary Range: Php 150,000 - Php 499,999

QUALIFICATION AND SALARY RANGE Basic Qualification: Minimum of 3 years of working experience on international dredging projects. Fluent in English and additional points for Dutch and French.

No.

95.

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Minimum of 10 years of working experience on international dredging projects. Fluent in English and additional points for Dutch and French.

96.

Basic Qualification: Minimum of 10 years of working experience on international dredging projects. Fluent in English and additional points for Dutch and French.

Brief Job Description: Responsible that all the information from the Chinese, Vietnamese and Taiwanese client to local documentation officer are correct. Responsible to follow up local liaison officer of all immigration issues and operations remaining up to date with any changes to legislation and overseeing all the aspects involved in processing a visa and immigration services

Basic Qualification: Preferably 6 months -1year as Visa Consultant; Fluent in Mandarin or Vietnam and English Language.

YU, JAE CHUN Marketing Manager (korean Speaking) 87.

Brief Job Description: Study market research and trends of the new products in Korea that can be distributed in the Philippines.

97.

88.

Brief Job Description: A customer service representative to manage customer queries and complaints. You will also be asked to process orders, and modifications, and escalate complaints across a number of communication.

Brief Job Description: Responsible that all the information from the Chinese and Vietnamese client to local documentation officer are correct. Responsible to follow up local liaison officer of all immigration issues and operations remaining up to date with any changes to legislation and overseeing all the aspects involved in processing a visa and immigration services XU, MINGHAO Visa Consultant

98.

99.

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

Basic Qualification: Fluent in reading, writing and speaking both English and Korean

100.

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

KOREA SME BUSINESS CENTER CORP. U-1807 18/f One San Miguel Avenue Condo., San Miguel Ave. Cor. Shaw Blvd., Ortigas Center, San Antonio, City Of Pasig

KIM, HYELIM Customer Service Representative

Basic Qualification: Minimum 3 years of working experience on international dredging projects. Fluent in English and additional points for Dutch and French. Salary Range: Php 150,000 - Php 499,999

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HU, DEMIN Visa Consultant

KONICE CORPORATION San, Rafael, Plainview, City Of Mandaluyong

Basic Qualification: University/college graduate, at least 1yr. Professional relevant work experience, able to speak Korean and English (or Filipino) fluently, able to read and write Korean and English with clarity.

KASEMSRI, TIMOTHY JAMES Multilingual Business Processing Consultant

LEE, PO-LING Vice President And General Manager 101.

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

89.

Brief Job Description: Provides extremely flexible web development services, from full stack solutions to updating existing content, MIU, PENGFEI Multilingual Business Processing Consultant

90.

Brief Job Description: Provides extremely flexible web development services, from full-stack solutions to updating existing content YANG, PEI-FEN a.k.a. VICKY YANG Multilingual Business Processing Consultant

91.

Brief Job Description: Provides extremely flexible web development services, from full-stack solutions to updating existing content YANG, RUIZHE Multilingual Business Processing Consultant

92.

Brief Job Description: Provides extremely flexible web development services, from full stack solutions to updating existing content

Basic Qualification: 18-55 y/o, with atleast 6 Months Experience, With Good Oral and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: 18-55 y/o, with atleast 6 Months Experience, With Good Oral and Written

Brief Job Description: Executes Head Office’s instructions and assignment; Propose branch business plan to Head Office for final approval; Decide on important business

HAN HTET AUNG Burmese Customer Service Representative 102.

93.

Brief Job Description: Provides extremely flexible web development services, from full-stack solutions to updating existing content,

103.

Brief Job Description: Managing incoming calls and customer service inquiries KHANT MIN NYO Burmese Customer Service Representative

104.

Brief Job Description: Managing incoming calls and customer service inquires KYAW NAING @ YAN MWE CHATE Burmese Customer Service Representative

105.

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

Brief Job Description: Managing incoming calls and customer service inquires MYAT NOE WAI Burmese Customer Service Representative

Basic Qualification: 18-55 y/o, with Atleast 6 Months Experience, With Good Oral And Written Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquires HLA DIN Burmese Customer Service Representative

106. ZENG, XUAN Multilingual Business Processing Consultant

Brief Job Description: Managing incoming calls and customer service inquires MYINT SHWE Burmese Customer Service Representative

107.

LUCKY BINTANG CONSULTANCY INC. Unit G-02 Makati Executive Tower 2, 7652 Dela Rosa St. Cor. P. Medina St., Pio Del Pilar, City Of Makati

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

NANG MOE MOE OO Burmese Customer Service Representative CHANG, YONG-YI Visa Consultant

94.

108. Basic Qualification: Preferably 6 months -1year as Visa Consultant; Fluent in Mandarin or Vietnam and English Language Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: Preferably 6 months -1year as Visa Consultant; Fluent in Mandarin or Vietnam and English Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Superior leadership and team work skills, Minimum of 20 years experience in a bank sector, tertiary qualifications in Economics, banking, commerce or related subjects, Good command and sound mastery in English and Mandarin Language

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

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

Basic Qualification: 18-55 y/o, with atleast 6 Months Experience, With Good Oral and Written

Basic Qualification: Preferably 6 months -1year as Visa Consultant; Fluent in Mandarin or Vietnam and English Language

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

Basic Qualification: 18-55 y/o, with Atleast 6 Months Experience, With Good Oral and Written Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

MEGA INTERNATIONAL COMMERCIAL BANK CO. LTD. 3 Pacific Star Bldg., Sen. Gil J. Puyat Ave. Cor. Makati Ave., Bel-air, City Of Makati

LEXIGENT PRIME VENTURES INC. Level 40 Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

JAN DE NUL (PHILS.), INC. 302 3rd/f Aseana Power Station Macapagal Blvd., Cor. Bradco Ave. Aseana City, Tambo, City Of Parañaque Basic Qualification: Minimum 2 years of working experience within the international dredging projects. Fluent in English and additional points for Dutch and French.

Brief Job Description: Responsible for the correct execution of the assigned topo-and/or hydrographic measurements and the follow-up of the survey administration.

ESTABLISHMENT / ADDRESS

K.B.C. DREAM TRAVEL AND IMMIGRATION CONSULTANCY CORPORATION (K.B.C. TRAVEL AND IMMIGRATION CONSULTANCY) U-ug02 Cityland 8 Condo., 98 Sen Gil Puyat Ave., Pio Del Pilar, City Of Makati

Basic Qualification: College graduate, speaks and write fluently (Korean, English and mandarin) Salary Range: Php 60,000 - Php 89,999

Brief Job Description: Organizes the distribution of tasks among his crew according to the agreed activities, reassesses plans, working methods and deadlines agreed with Project Management.

SKUGOR, ANDREA Survey Specialist

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

J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg., #48 President Avenue, B. F. Homes, City Of Parañaque

Brief Job Description: Organizes the distribution of tasks among his crew according to the agreed activities, reassesses plans, working methods and deadlines agreed with Project Management.

VOSSELMAN, HENDRIK LOUIS Sandfield Master

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Superior Customer Service Skills, Nice to Have Experience Working With Online Gaming/ Offshore Gaming Industry or Less Experience but a Good Attitude and Motivation to Learn, Excellent Communication Skills in Chinese, Both Spoken and Written

Brief Job Description: The Project Controls Specialist works closely with the Project Managers to ensure that all budgeting, scheduling and coordination processes run smoothly.

ASLANDER, ALBERT Sandfield Master

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Managing incoming calls and customer service inquiries. PAING SOE Burmese Customer Service Representative

109.

Brief Job Description: Managing incoming calls and customer service inquiries

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

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION SAI OHM NGIN Burmese Customer Service Representative

110.

Brief Job Description: Managing incoming calls and customer service inquiries SOE KYAW Burmese Customer Service Representative

111.

Brief Job Description: Managing incoming calls and customer service inquires THAN HTIKE Burmese Customer Service Representative

112.

Brief Job Description: Managing incoming calls and customer service inquiries THAN HTIKE OO Burmese Customer Service Representative

113.

Brief Job Description: Managing incoming calls and customer service inquiries TO NILAR MARI Burmese Customer Service Representative

114.

Brief Job Description: Managing incoming calls and customer service inquiries TUN LIN AUNG Burmese Customer Service Representative

115.

Brief Job Description: Managing incoming calls and customer service inquiries YONE SAI Burmese Customer Service Representative

116.

Brief Job Description: Managing incoming calls and customer service inquiries YU YU NAING Burmese Customer Service Representative

117.

Brief Job Description: Managing incoming calls and customer service inquiries ZAW LWIN AUNG Burmese Customer Service Representative

118.

Brief Job Description: Managing incoming calls and customer service inquiries CUI, YONGLI Chinese Customer Service Representative

119.

Brief Job Description: Managing incoming calls and customer service inquires LI, CHUNYAO Chinese Customer Service Representative

120.

Brief Job Description: Managing incoming calls and customer service inquires. SHEN, DECAN Chinese Customer Service Representative

121.

Brief Job Description: Managing incoming calls and customer service inquires. SUN, YIJUN Chinese Customer Service Representative

122.

Brief Job Description: Managing incoming calls and customer service inquires. ZHANG, LINA Chinese Customer Service Representative

123.

Brief Job Description: Managing incoming calls and customer service inquires. ZHANG, PENGCHENG Chinese Customer Service Representative

124.

Brief Job Description: Managing incoming calls and customer service inquiries ADE CANDRA WIJAYA Indonesian Customer Service Representative

125.

Brief Job Description: Managing incoming calls and customer service inquiries BUDIMAN Indonesian Customer Service Representative

126.

Brief Job Description: Managing incoming calls and customer service inquiries FEBRIANO SUGI DARMAWAN Indonesian Customer Service Representative

127.

Brief Job Description: Managing incoming calls and customer service inquiries FEBRIYADI Indonesian Customer Service Representative

128.

Brief Job Description: Managing incoming calls and customer service inquires FI PHIN Indonesian Customer Service Representative

129.

Brief Job Description: Managing incoming calls and customer service inquiries HENDRI Indonesian Customer Service Representative

130.

Brief Job Description: Managing incoming calls and customer service inquires. HERMAN JIMMY Indonesian Customer Service Representative

131.

Brief Job Description: Managing incoming calls and customer service inquiries MUH RIZAL Indonesian Customer Service Representative

132.

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

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

No.

STEPHEN SEPTLANKS Indonesian Customer Service Representative 133.

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

134.

Basic Qualification: Able to speak, read and write the Chinese language

135.

136.

137.

138.

139.

140.

141.

142.

143.

144.

145.

146.

147.

148.

149.

150.

151.

152.

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

Brief Job Description: Managing incoming calls and customer service inquiries. LY DUC HUY Vietnamese Customer Service Representative

153.

Brief Job Description: Managing incoming calls and customer service inquires NGO THUA AN Vietnamese Customer Service Representative

154.

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

Brief Job Description: Managing incoming calls and customer service inquiries LY CONG PHUC Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires LE VAN TIEN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires LAM SAM PHUONG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries LAM LINH DAN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires HOANG XUAN HIEU Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries HOANG VAN THANG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries HOANG THI TONG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires HOANG DINH SON Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries HOAN VAN NGOC Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries HA QUANG NAM Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries GIANG MUN MENH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries DUONG VAN XINH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries DOAN VAN HOA Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries CHU VAN HUNG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries BUI SY NAM Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires BUI KIM THAO Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries FAM BOON XIAN Malaysian Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries WILLY Indonesian Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries TONY Indonesian Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN DINH DUNG Vietnamese Customer Service Representative

155.

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

Wednesday, June 22, 2022

A15

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

No.

NGUYEN DINH MAN Vietnamese Customer Service Representative 156.

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

157.

158.

159.

160.

161.

162.

163.

164.

165.

166.

167.

168.

169.

170.

171.

172.

173.

174.

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN VAN TAI Vietnamese Customer Service Representative

175.

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN VAN QUANG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN VAN PHAN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN TUAN VU Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN THI XEN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN THI VAN ANH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN THI THAO QUYEN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries. NGUYEN THI HUE Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN THANH HIEU Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN NHU HUNG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN LUU MAI TRAM Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries. NGUYEN HUU THANH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN HUU DUNG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries. NGUYEN HUU DAI Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN HOANG ANH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries. NGUYEN DUC LONG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN DUC LAM Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN DUC CHINH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries. NGUYEN DOAN TIEN Vietnamese Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN VAN TAO Vietnamese Customer Service Representative

176.

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN VIET HANH Vietnamese Customer Service Representative

177.

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN XUAN DANG Vietnamese Customer Service Representative

178.

Brief Job Description: Managing incoming calls and customer service inquires

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

BusinessMirror

A16 A6 Wednesday, June 22, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN XUAN TIEP Vietnamese Customer Service Representative

179.

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN XUAN VU Vietnamese Customer Service Representative

180.

Brief Job Description: Managing incoming calls and customer service inquiries NONG THANG LAY Vietnamese Customer Service Representative

181.

Brief Job Description: Managing incoming calls and customer service inquiries

NONG THI HOA Vietnamese Customer Service Representative 182.

Brief Job Description: Managing incoming calls and customer service inquiries

NONG VAN BAO Vietnamese Customer Service Representative 183.

Brief Job Description: Managing incoming calls and customer service inquiries PHAM VAN DAT Vietnamese Customer Service Representative

184.

Brief Job Description: Managing incoming calls and customer service inquiries PHAM VAN NAM Vietnamese Customer Service Representative

185.

Brief Job Description: Managing incoming calls and customer service inquiries PHAM VAN TUAN Vietnamese Customer Service Representative

186.

Brief Job Description: Managing incoming calls and customer service inquiries PHAN VAN HOA Vietnamese Customer Service Representative

187.

Brief Job Description: Managing incoming calls and customer service inquiries SU CAM HO Vietnamese Customer Service Representative

188.

Brief Job Description: Managing incoming calls and customer service inquiries THAI THI MY LINH Vietnamese Customer Service Representative

189.

Brief Job Description: Managing incoming calls and customer service inquiries THAI VIET TRANG Vietnamese Customer Service Representative

190.

Brief Job Description: Managing incoming calls and customer service inquiries TONG VAN THONG Vietnamese Customer Service Representative

191.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN DUC Vietnamese Customer Service Representative

192.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN DUNG VA Vietnamese Customer Service Representative

193.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN HOC VO Vietnamese Customer Service Representative

194.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN LE CHI KHANG Vietnamese Customer Service Representative

195.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN LE LI Vietnamese Customer Service Representative

196.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN QUANG HIEU Vietnamese Customer Service Representative

197.

Brief Job Description: Managing incoming calls and customer service inquiries

TRAN VAN DIEN Vietnamese Customer Service Representative 198.

Brief Job Description: Managing incoming calls and customer service inquiries

TRIEU THI BAO NGOC Vietnamese Customer Service Representative 199.

Brief Job Description: Managing incoming calls and customer service inquiries UNG LE VU LINH Vietnamese Customer Service Representative

200.

Brief Job Description: Managing incoming calls and customer service inquiries

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

No.

VU BICH NGOC Vietnamese Customer Service Representative 201.

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

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

202.

203.

204.

Brief Job Description: Managing incoming calls and customer service inquiries

205.

206.

Basic Qualification: Able to speak, Read, and Write Chinese language 207.

Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999 208.

MIAO, LIUCHANG Chinese Customer Service Brief Job Description: Customer Support and Data Base Services

ANDI Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services.

CHARLES Indonesian Customer Service Brief Job Description: Customer support and data base services.

ELVIN Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services

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

209.

FEBRY Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services

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

210.

HABIBI Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services

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

211.

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

212.

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

213.

JASON FITRIANTO Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services

KEPRI AGUSTINUS Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services

MEI SHANDY HALIM Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services.

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

214.

MISTEJIMI Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services.

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

215.

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

216.

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

MUSA CANDANA Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services.

NOVIYANDI Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services.

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

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

217.

TRECY WANG Indonesian Customer Service Brief Job Description: Customer support and data base services.

No.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TRI SUDESNO Indonesian Customer Service

218.

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

219.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

WIRANTO Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services

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

220.

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

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque

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

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

Brief Job Description: Managing incoming calls and customer service inquiries VY THI NGHIA Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries VU XUAN DAT Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries VU VAN KIEN Vietnamese Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

221.

Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999

222.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

223.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

224.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

225.

Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999

226.

Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999

227.

Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999

228.

Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999

229.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

230.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

231.

232.

233.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Customer support and data base services.

GAN CHENG HUAT Malaysian Customer Service Brief Job Description: Customer Support and Data Base Services

KHOR KOAY HUAN YI Malaysian Customer Service Brief Job Description: Customer support and data base services

SIA LEE LUNG Malaysian Customer Service Brief Job Description: Customer support and data base services

SOH SHAN BOON Malaysian Customer Service Brief Job Description: Customer support and data base services.

TEH EE CHUAN Malaysian Customer Service Brief Job Description: Customer support and data base services.

KAO MY Myanmari Customer Service Brief Job Description: Customer Support and Data Base Services.

MARIP NAW SAN Myanmari Customer Service Brief Job Description: Customer Support and Data Base Services.

PHYU PHYU WIN Myanmari Customer Service Brief Job Description: Customer Support and Data Base Services.

THUZAR AUNG @ YAN SIKE YIN Myanmari Customer Service Brief Job Description: Customer Support and Data Base Services.

FAM KAI FONG Singaporean Customer Service Brief Job Description: Customer support and data base services.

BAO NHIT PHUONG Vietnamese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

CHUNG KIONG WEI Malaysian Customer Service

234.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

BUI VAN LUU Vietnamese Customer Service Brief Job Description: Customer support and data base services

CAM VINH BOI Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

CHAU VY CHAU Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

QUALIFICATION AND SALARY RANGE Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

235.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

DANG QUOC CHUNG Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

DIEP VU KHANG Vietnamese Customer Service 236.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills DO THI ANH NGUYET Vietnamese Customer Service

237.

238.

239.

240.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

HA VAN TOAN Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

HOANG VAN CHUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services

LAI VAN HIEU Vietnamese Customer Service Brief Job Description: Customer support and data base services

LE THI NU Vietnamese Customer Service 241.

242.

243.

244.

245.

246.

247.

248.

249.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

LE VAN TRUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services

LEO THI DUNG Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services

LINH MY HONG Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

LOC VAN THANG Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services

LY THI HIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGO SY HUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN THI ANH Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

NGUYEN VAN HUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN VIET NAM Vietnamese Customer Service 250.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

No.

252.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

253.

Basic Qualification: Customer support and data base services 254.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

255.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

256.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

257.

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

258.

251.

Brief Job Description: Customer support and data base services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

THONG TRAN NHI Vietnamese Customer Service Brief Job Description: Customer support and data base services.

TRAN THI HUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRIEU VINH MY Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRINH VAN THE Vietnamese Customer Service Brief Job Description: Customer support and data base services.

VY THI DEP Vietnamese Customer Service Brief Job Description: Customer support and data base services.

ZHANG, XUN Mandarin Technical Support Specialist 259.

Brief Job Description: Responsible For The Smooth Running Of Computer Systems And Ensuring Users Get Maximum Benefits From Them YIN, HAO Mandarin Technical Support Specialist

260.

Brief Job Description: Monitoring And Maintaining Computer Systems And Networks

Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communications Skills

HEPY Customer Service Representative 261.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Brief Job Description: Manage large amounts of incoming calls. Generate sales leads. Identify and assess customers’ needs. Handle customer complaints. Follow communication procedures, guidelines and policies.

FANG, XIAOFENG Chinese Cargo Office Agent 262.

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

Brief Job Description: Chinese Cargo Office Agent facilitate shipments of goods through shipping, and trucking terminals and docks station in China and Philippines

TURGUT, MERVE Manager Business Unit Primary 263.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

ZENG, SHENGLAN Chinese Customer Service Representative 266.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining database

YOW MALCOLM CHEE HENG Senior Vice President And Retail It Digital Team Head 267.

Brief Job Description: Oversee the Retail IT Digital Delivery Team and ensure the use of scalable and cost-effective delivery processes that iteratively and routinely deliver high-quality products to market.

Brief Job Description: “Manage, plan, lead activities of the assigned business unit(s) in compliance to sustainability, quality and legal requirements.”

LIM LIAN CHEE Area Financial Controller 268.

Brief Job Description: Solid understanding about financial operations and well versed with hotel policies and procedures

SHIHATA, MICHAEL DAVID Vice President Client Solutions, Relationship Management Brief Job Description: “Responsible for account development, support delivery, and financial ownership to multiple sites and programs within the enterprise structure. Understands all functional areas, including Operations, Workforce Management, Training, QA and IT.”

Basic Qualification: With experience as financial controller in an international hotel Salary Range: Php 150,000 - Php 499,999

SPEEDWELL INC. 5/f King’s Court 2 Bldg., 2129 Chino Roces Ave., Pio Del Pilar, City Of Makati

SHA, HUI Chinese Speaking Solutions Consultant 269.

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

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

THUNDER DEFENSE CORPORATION (THUNDER DEFENSE) Unit 208 South Star Plaza Condo., South Super Highway, Bangkal, City Of Makati

Basic Qualification: Can Speak Mandarin Salary Range: Php 30,000 - Php 59,999

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

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

SHANG GLOBAL CITY PROPERTIES, INC. 3rd Ave., Cor. 30th St., Fort Bonifacio, City Of Taguig

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

Basic Qualification: 5 -8 years’ experience in production area within FMCG, pharmaceutical or similar industry of which at least 3 years in a managerial role

Basic Qualification: College Graduate, Fluent in English, Preferably 6mos-1year Customer Service Experience

Salary Range: Php 500,000 and above

Basic Qualification: Can Speak Mandarin

Basic Qualification: Ability to communicate effectively in Mandarin and basic English, both verbally and in writing. Must have an experience in shipments of goods, tariff coding systems or any similar field. Strong knowledge of China and Philippine Customs Regulations and Tariffs

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

Basic Qualification: Deep End-toEnd Architecture understanding, including a reference retail banking digital stack.

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

Basic Qualification: Must be a College graduate; Can Prepare product or service reports by collecting and analyzing customer information; Can contribute to team effort by accomplishing related results as needed; Can Manage large amounts of incoming calls

Basic Qualification: College Graduate, Fluent in English, Preferably 6mos-1year Customer Service Experience

SECURITY BANK CORPORATION Security Bank Centre Bldg., 6776 Ayala Avenue, San Lorenzo, City Of Makati

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

RESULTS MANILA, INC. Silver City, Frontera Verde, Ugong, City Of Pasig

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

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining database

BLAY, BENITA Project Sales Director For Africa 270.

Brief Job Description: Drive sales by designing and implementing targeted Marketing Strategies in the Africa region and translating outputs (documents, reports, etc.) from English to French, Afrikaans and Twi, and vice versa;

Basic Qualification: 1. Serves as a key Local (Native) representative for the Company in procurements or sessions that is limited to only locals/natives of Ghana & Africa 2. Drive sales by designing and implementing targeted Marketing Strategies in the Africa region and translating outputs (documents, reports, etc.) from English to French, Afrikaans and Twi, and vice versa; 3. Responsible for the entire project function from Planning stage, ordering, review of tenders, preparation, delivery and installation. 4. Understands, communicates, and advocates Company priorities to governmental officials, local and national organizations and other private or government entities on key issues related to project, policy, and research. 5. Research and develop marketing and Sales strategies in Africa by acquiring knowledge and using it to build understanding and intelligence that our business can use to its advantage. 6. Oversee the Procurement/Material Sourcing and Approval across Africa markets. 7. Ensure consistency of supplies and brand standard in the region. 8. Analyzes regional market dynamics in an effort to maximize existing successes and to create new sales growth opportunities. Salary Range: Php 90,000 - Php 149,999

WOOK GLOBAL PHILIPPINE TECHNOLOGY INC. Unit 1605 16/f 88 Corporate Center, 141 Valero Cor. Sedeno Sts., Bel-air, City Of Makati

PMFTC INC. Plant C & D, Champaca Ii, Fortune, City Of Marikina

Basic Qualification: Customer support and data base services

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

265.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

QUALIFICATION AND SALARY RANGE

WANG, CHUANQIAO Chinese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

PANPHIL MARINE SERVICES CORP. 2626 Maytubig St., Corner P. Ocampo St., 078, Barangay 719, Malate, City Of Manila

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

No.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

QUALIFICATION AND SALARY RANGE

OMNIWEALTH ENTERPRISE INC. 17th Flr. Citibank Square Bldg., No. 188 Rodriguez Jr. Ave., Eastwood City Cyberpark 3, Bagumbayan, Quezon City

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

A17

ESTABLISHMENT / ADDRESS

OCEANIC SYMPHONY SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati

264.

NONG HONG NHUNG Vietnamese Customer Service

PHAM VAN TIEP Vietnamese Customer Service

PHAN THI THU THAO Vietnamese Customer Service

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Wednesday, June 22, 2022

CHEN, XIANMIN Chinese General Manager 271.

Brief Job Description: Oversees daily business activities, improves overall business functions, manages budgets, develops strategic plans, creates policies, and communicating business goals.

Basic Qualification: Strong leadership and decision-making skills to ensure that business operations function optimally at all times. Good knowledge of different business functions. The ability to cope well under pressure and come up with innovative solutions when issues arise. Highly organized & strong work ethics. Meticulous attention to detail & proactive nature. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Minimum 7 years progressive management and leadership of project and implementation teams experience including 2-3 years in a large call center environment. Salary Range: Php 90,000 - Php 149,999

RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg., 115-117 Esteban Street, San Lorenzo, City Of Makati

*Date Generated: Jun 21, 2022 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

A18 Wednesday, June 22, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

PHL needs sensible agri insurance plan

griculture is an inherently risky enterprise because of so many uncertainties facing farmers. But changing weather patterns that made crops production more challenging have heightened the risks faced by agricultural stakeholders. The increasing frequency of strong typhoons and droughts gave rise to additional challenges in boosting output. Because of climate change, local farmers are usually at the mercy of drought or strong typhoons that hit their farms and wipe out their crops (See, “El Niño farm damage doubles to P2.68 billion,” in the BusinessMirror, March 28, 2019). One of the mechanisms available to minimize the risks faced by farmers is the agricultural insurance offered by the state via the Philippine Crop Insurance Corp. (PCIC). The primary mandate of the agency that is now attached to the Department of Finance is to provide insurance protection to farmers against losses arising from natural calamities, plant diseases and pest infestations of their palay and corn crops, as well as other crops. The corporation also provides protection against damage to/loss of non-crop agricultural assets including but not limited to machineries, equipment, transport facilities and other related infrastructures due to perils insured against. However, a study conducted by a team from the World Bank’s Disaster Risk Financing and Insurance Program found that despite the rapid increase in subsidies received by PCIC from the national government, agricultural insurance has reached only a third of the country’s farmers. The study also found that the insurance provided by PCIC is also not well targeted to ensure that taxpayers are getting their value for money (See, “PHL needs to overhaul agri insurance scheme,” in the BusinessMirror, June 6, 2022). Senior Financial Sector Specialist of the DRFIP Benedikt Signer, who presented the findings of the study, said the current agricultural insurance scheme is neither providing value for money to the Philippine taxpayer nor adequate protection to farmers. PCIC’s insurance products are not suitable for the majority of Filipino farmers, especially for subsistence growers. Signer also noted that its paid claims are often late and do not adequately reflect losses. What’s more, PCIC enjoys a de facto monopoly in the Philippine agricultural insurance market, which discourages the entry of new players. It would do well for the incoming administration to prioritize the overhauling of the local agricultural insurance scheme to effectively respond to the need to increase food production. Policymakers should take note of the recommendations made by the World Bank study and use it as a possible guide. The study cited several reforms that should be considered by the new administration to make the country’s agricultural insurance scheme more responsive to the needs of local planters. The government should also explore partnerships with organizations, such as the International Fund for Agricultural Development, which launched a project with Vietnam to strengthen the supply of agricultural and climate risk insurance for small producers. Dr. Tran Cong Thang, director general of the Institute of Policy and Strategy for Agriculture and Rural Development, said the agricultural insurance development strategy recommended by IFAD is one of the important elements of Vietnam’s national agricultural insurance strategy. Citing the need to urgently address the looming food crisis in the country, President-elect Ferdinand “Bongbong” Marcos Jr. on Monday said he will temporarily head the Department of Agriculture. Farmers welcomed his decision, as they now have a chance to directly communicate to the President the urgent need to protect planters, which is the most important step to ensure the country’s food security.

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BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

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By Ken Sweet & Fatima Hussein | The Associated Press

EW YORK—The wealth-generating hot streak for bitcoin and other cryptocurrencies has turned brutally cold. As prices plunge, companies collapse and skepticism soars, fortunes and jobs are disappearing overnight, and investors’ feverish speculation has been replaced by icy calculation, in what industry leaders are referring to as a “crypto winter.” It’s a dizzying turn of events for investments and companies that at the start of 2022 seemed to be at their financial and cultural apex. Crypto-evangelizing companies ran commercials during the Super Bowl and spent heavily to sponsor sports arenas and baseball teams. The industry’s combined assets back then were estimated to be worth more than $3 trillion; today, they are worth less than a third of that. Maybe. On Monday, the price of bitcoin traded at $20,097, more than 70% below its November peak of around $69,000. Another leading cryptocurrency, Ethereum, was trading near $4,800 at its November peak; it is now less than $1,000. Bitcoin and other cryptocurrency prices have been sliding all year, a decline that accelerated as the Federal Reserve signaled that interest rates would be moving higher to

try and snuff out inflation. What is happening to crypto is, in part, an extreme version of what is happening to stocks, as investors sell riskier assets at a time when the threat of recession is rising. But the crypto sell-off is more than that, experts say; it signals growing trepidation on Wall Street and Main Street about the industry’s fundamentals, which right now are looking shaky. “There was this irrational exuberance,” said Mark Hays at Americans for Financial Reform, a consumer advocacy group. “They did similar things leading up to the 2008 crisis: aggressively market these products, promise returns that were unreasonable, ignore the risks, and would dismiss any critics as folk who just didn’t get it.” Hays and others are also drawing comparisons to the 2008 housingmarket meltdown because the col-

lapse in bitcoin and other digital coins has coincided with crypto industry versions of bank runs and a lack of regulatory oversight that is stirring fears about just how bad the damage could get. Unlike housing, the crypto industry isn’t large enough to trigger major turmoil across the wider economy or financial system, analysts say. But recent events have nevertheless shattered many investors’ confidence: n The so-called stablecoin Terra collapsed in a matter of days in May, wiping out $40 billion in investor wealth. In the crypto business, stablecoins are marketed as a safe investment and the price of each one is typically pegged to a traditional financial instrument, like the US dollar. Terra instead relied on an algorithm to keep its price steady near $1—and partly backed up its value with bitcoin. n A company called Celsius Network, which operates like a bank for crypto holders, last week froze the accounts of its 1.7 million customers. Celsius took deposits, paid interest, and made loans and other investments with its customers’ cryptocurrencies, once valued at close to $10 billion. Unlike a real bank, there is no federal insurance

backstopping these customers’ deposits. n Shortly after Celsius froze accounts, the founder of Three Arrows Capital, a Singapore-based hedge fund that specializes in cryptocurrencies, addressed rumors of its imminent collapse with a mysterious tweet: “We are in the process of communicating with relevant parties and fully committed to working this out.” Extended periods of pessimism for stocks are called bear markets. In the world of crypto, bouts of heavy selling prompt references to the HBO series “Game of Thrones,” which popularized the ominous warning: “winter is coming.” Last week, the CEO and co-founder of Coinbase, one of the largest crypto exchanges, announced that the company would be laying off roughly 18 percent of its employees, and he said a wider recession could make the industry’s troubles even worse. “A recession could lead to another crypto winter, and could last for an extended period,” the CEO, Brian Armstrong, said. This isn’t the first crypto winter. In 2018, bitcoin fell from $20,000 to less than $4,000. But analysts say this time feels different.Hussein reported from Washington.

California eyes banning loitering for prostitution arrests By Don Thompson | The Associated Press

ACRAMENTO, California—California lawmakers on Monday finally sent Gov. Gavin Newsom a hot potato of a bill that would bar police from making arrests on a charge of loitering for prostitution, nine months after the measure passed the Legislature.

T. Anthony C. Cabangon

Senior Editors

Creative Director Chief Photographer

Crypto investors’ hot streak ends as harsh ‘winter’ descends

Democratic Sen. Scott Wiener and other supporters said arrests for loitering with the intent to engage in prostitution often rely on police officers’ perceptions and disproportionately target transgender, Black and Latino women. Critics see it as a further erosion of criminal penalties that tie the hands of police on quality-of-life issues like shoplifting and car burglaries. Greg Burt, a spokesman for the California Family Council, and other opponents fear it’s part of an eventual effort to decriminalize prostitution. “This bill seems to be perfect if you want sex trafficking to even increase in California,” he said. “This bill is really going to affect poor neighborhoods—it’s not going to affect neighborhoods where these legislators live.” The bill would not decriminalize soliciting or engaging in sex work. It would allow those who were previously convicted or are currently serving loitering sentences to ask a court to dismiss and seal the record of the conviction. The measure has passed both

legislative chambers, but Wiener took the unusual step of stopping the bill from going to Newsom after the Assembly approved the measure in September with no votes to spare. More than two-dozen of his fellow Democrats in the Assembly and Senate either voted no or declined to vote. He wanted time, Wiener said then, “to make the case about why this civil rights bill is good policy ... and why this discriminatory loitering crime goes against California values.” The Senate finally sent the bill to Newsom on Monday. But in the nine months since lawmakers acted, concerns about crime, homelessness and the perception that major California cities are becoming unsafe have become more acute, providing fodder for political campaigns heading into the November election. Among the bill’s supporters is San Francisco District Attorney Chesa Boudin, who voters just recalled from office in mid-term after critics mounted a campaign labeling him as soft on criminals.

Newsom, a Democrat running for reelection after easily beating back a recall last year, has said more needs to be done to address homelessness and shoplifting. Newsom’s spokespeople did not immediately comment on Wiener’s bill. Burt believes lawmakers waited to send it to Newsom until after the governor defeated the recall and safely made it through the June 7 primary election. The bill is sponsored in part by groups supporting gay and transgender rights, and Wiener said he waited to send the measure to Newsom until Pride Month, which celebrates the LGTBQ community. “It is more important than ever to get rid of a law that targets our community,” said Wiener, who is gay. “Pride isn’t just about rainbow flags and parades. It’s about protecting the most marginalized in our community.” The Los Angeles County Sheriff’s Department, the nation’s largest such agency, and the 75,000-member Peace Officers Research Association of California are among the opponents. Both say repealing it will hinder the prosecution of those who commit crimes related to prostitution and human trafficking and make it harder to identify and assist those being victimized. In a statement to lawmakers, the sheriff’s department said the law

is “often used to keep prostitutes from hanging around public places, business and residential communities, which can breed crime and drug use.” While the intent is good, the unintended consequences will be to benefit sex buyers, the department said. But Wiener said the loitering law “essentially allows law enforcement to target and arrest people if they are wearing tight clothes or a lot of makeup.” Similar legislation became law in New York last year, and Wiener cast his bill as part of a larger movement to end discrimination against and violence toward sex workers. The debate split sex workers and advocates, with the American Civil Liberties Union of California supporting it and the nonpartisan National Center on Sexual Exploitation opposing it. Once it formally reaches his desk, Newsom will have 12 days to sign or veto the measure. Two other related measures already are law. A bill passed in 2016 bars arresting minors for prostitution, with the intent that they instead be treated as victims. A 2019 bill bars arresting sex workers if they are reporting various crimes as a victim or witness. The same law bans using possession of condoms as reason for an arrest.

Opinion BusinessMirror

www.businessmirror.com.ph

Petro faces challenges to deliver Colombians promised change

By Regina Garcia Cano & Astrid Suarez | The Associated Press

OGOTA, Colombia—Colombia for the first time elected a leftist as president, but the slim victory is a cue that a large portion of the country rejects the ambitious proposals of Gustavo Petro, who will have to consider their concerns and negotiate with a divided Congress to deliver on promises. Petro, in his third attempt to win the presidency, on Sunday defeated by three percentage points another anti-establishment candidate, real estate tycoon Rodolfo Hernández. They met in a runoff after the election’s first round rejected candidates of the centrist and right-leaning politics that have long dominated the South American nation. But Petro, a former rebel who is now presidentelect, faces a steep road to carry out the changes his supporters want to see as Colombia struggles with inequality, inflation and violence. “Petro has set very high expectations from his proposals, and when he delivered his victory speech, he sort of inflated those expectations,” said Silvana Amaya, a senior analyst with the firm Control Risks. “Therefore, there is a lot of room for disappointment if he does not meet those expectations that the people, especially the young population, have right now because they are expecting life to be absolutely different from all those social reforms that he is proposing.” Petro has proposed pension, tax, health and agricultural reforms and changes to how Colombia fights drug cartels and other armed groups. He wants the tax reform to finance social programs, including free higher education and subsidies for mothers who are heads of households. His party, the Historic Pact, will have the most seats in the incoming Senate and the second-largest number of seats in the House. Still, he will lack a majority when the new Congress opens July 20, which likely will force him to make deals, curb some reforms or even ditch others. Amaya said a negotiated, scaleddown version of Petro’s revenueraising tax plan could be approved by Congress as the absence of one could put into question the government’s finances. But other plans will likely stall, she said. In a nod to the resistance, Petro during his victory speech addressed the other half of Colombia that did not vote for him and proposed a “great national dialogue” that includes his staunchest opponents to achieve consensus. “The fact that this platform took him to victory indicates that most Colombians believe that the state should take on a greater role in providing social services such as health, social security and education,” Erica Fraga, senior analyst with the Economist Intelligence Unit, a research group linked to the Economist magazine, said in a statement. But, Fraga added, “if he does not show a willingness to compromise and moderate some of his radical proposals, his ability to deliver on his promises will be undermined, causing his popularity to dip and increasing the risk of social unrest.”

President Ivan Duque, a conservative who defeated Petro in 2018 but was not eligible for reelection, promised a “harmonious, institutional and transparent transition” before Petro takes office August 7. Claudia Lozada, a Petro supporter, offered her hopes for the new leader during a celebratory rally Sunday night. “Colombia is praying for your government to be a government of change so that this generation, or at least the next generation, can say Petro made the best government because he was the president of the people and the president of the youth because it was the people who elected him,” Lozada said. While the election overturned Colombia’s long stigmatization of the left over a five-decade civil conflict, there are many who are leery of Petro, who is now a senator but was a rebel with the now-defunct M-19 movement before he was pardoned and entered politics. In his first message as presidentelect, Petro sought to allay fears about his administration by assuring Colombians that “we are going to develop capitalism in Colombia, not because we adore it, but because we first have to overcome pre-modernity in Colombia, feudalism in Colombia, the new slavery.” By finishing second, Hernández earned a seat in the Senate, but on Monday, he said he had not decided whether to take it. The runoff also gave Colombia for the first time a Black politician as vice president—Francia Márquez, a lawyer and environmental leader whose opposition to illegal mining resulted in threats and a grenade attack in 2019. While her election is historic, some see her as a potential obstacle for Petro because of her unwillingness to make concessions to traditional parties. Sergio Guzmán, founder of the firm Colombia Risk Analysis, said Petro must show openness to sharing Cabinet positions with other parties. “We witnessed how unproductive Ivan Duque’s first year was by not giving into ‘pork barrel’ politics and yielding to the content of his initial package of laws then,” Guzmán said. “It is unlikely that the incoming president would like to repeat the same experience.” Petro has said he will govern for the “nobodies,” meaning minorities and the poor, the latter making up 39% of the population, according to official figures from 2021. In his first 100 days in office, Petro says, he aims to implement an emergency plan against hunger, introduce a “living income” for mothers who are heads of households and forgive the student loans of 10,000 people. Garcia Cano reported from Caracas, Venezuela.

Wednesday, June 22, 2022 A19

No nukes? Ukraine-Russian war will shape world’s arsenals

By Ellen Knickmeyer & Yong Jun Chang | The Associated Press

he headlines on the newsstands in Seoul blared fresh warnings of a possible nuclear test by North Korea. Out on the sidewalks, 28-year-old office worker Lee Jae Sang already had an opinion about how to respond to North Korea’s fast-growing capacity to lob nuclear bombs across borders and oceans. “Our country should also develop a nuclear program. And prepare for a possible nuclear war,” said Lee, voicing a desire that a February poll showed was shared by 3 out of 4 South Koreans. It’s a point that people and politicians of non-nuclear powers globally are raising more often, at what has become a destabilizing moment in more than a half-century of global nuclear nonproliferation efforts, one aggravated by the daily example of nuclear Russia tearing apart nonnuclear Ukraine. That reconsideration by nonnuclear states is playing out in Asia. The region is home to an ever more assertive North Korea, China, Russia and Iran—three nuclear powers and one near-nuclear power—but is unprotected by the kind of nuclear umbrella and broad defense alliance that for decades has shielded NATO countries. Vulnerable countries will look to the lessons from Ukraine—especially whether Russia succeeds in swallowing big pieces of Ukraine while brandishing its nuclear arsenal to hold other nations at bay—as they consider keeping or pursuing nuclear weapons, security experts say. As important, they say, is how well the US and its allies are persuading other partners in Europe, the Persian Gulf and Asia to trust in the shield of US-led nuclear and conventional arsenals and not pursue their own nuclear bombs. For leaders worried about unfriendly, nuclear-armed neighbors, “they will say to their domestic audiences, ‘Please support our nuclear armament because look what happened to Ukraine,’ right?” said Mariana Budjeryn, a researcher with the Project on Managing the Atom at Harvard’s Kennedy School of Government. As a schoolgirl in 1980s Sovietera Ukraine, Budjeryn drilled on how to dress radiation burns and other potential injuries of nuclear war, at a time that country housed some 5,000 of the Soviet Union’s nuclear weapons. Her country renounced nuclear weapons development after the Soviet Union shattered, opting

for economic assistance and integration with the West and security assurances. “Ultimately, I think a lot is riding on the outcome of this war in terms of how we understand the value of nuclear weapons,” Budjeryn said. Around the world, the US military is reassuring strategic partners who are facing nuclear-backed rivals. Near the North Korea border this month, white-hot ballistic missiles arched through the night sky as the US joined South Korea in their first joint ballistic test launches in five years. It was a pointed response to North Korea’s launch of at least 18 ballistic missiles this year. In Europe and in the Persian Gulf, President Joe Biden and US generals, diplomats and troops are shuttling to countries neighboring Russia and to oil-producing countries neighboring Iran. Biden and his top lieutenants pledge the US is committed to blocking nuclear threats from Iran, North Korea and others. In China, President Xi Jinping is matching an aggressive foreign policy with one of his country’s biggest pushes on nuclear arms. Some top former Asian officials have cited Ukraine in saying it’s time for more non-nuclear countries to think about getting nuclear weapons, or hosting US ones. “I don’t think either Japan or South Korea are eager to become nuclear weapon states. It will be immensely politically painful and internally divisive. But what are the alternatives?” ex-Singapore Foreign Minister Bilahari Kausikan told the audience at a March defense forum. For those hoping North Korea would give up its nuclear weapons, the example provided by Russia’s invasion of Ukraine is “another nail in that coffin,” Terence Roehrig, a professor of national security at the US Naval War College, said at another defense forum in April. “Ukraine is going to be another example to North Korea of states like Iraq and like Libya, that gave up their nuclear capability—and look at what happened to them,” Roehrig said. Ukraine never had detonation-

Blatant disinformation MAIL

his is in reference to the Opinion piece written by Lito Gagni “Is Russia to blame for food and energy crisis?” that Busi-

nessMirror published on June 20, 2022. While we respect freedom of expression, the opinion column contained blatant disinformation rehashing the words of President Putin accusing the west of creating an energy and food crisis. We would like to clarify the following: 1. Russia’s ongoing aggression on Ukraine has placed the world in a brink of famine, as Ukraine is one of the most important global producers of grains. Russia’s troops attacked all essential farm-to-market infrastructures, preventing the export

Many feel Ukraine made the right decision when it avoided possible isolation by waiving a nuclear-armed future. That gave Ukraine three decades to integrate with the world’s economy and build alliances with powerful nations now aiding its defense against Russia.

ready nuclear bombs— at least, none it could fire on its own. The Soviet Union’s collapse left Ukraine with the world’s thirdlargest nuclear arsenal. But Ukraine didn’t have operational control. That left it with a weak hand in the 1990s when it negotiated with the US, Russia and others on its place in the post-Soviet world, and the fate of the Soviet arsenal. Ukraine got assurances but no guarantees regarding its security, Budjeryn said. “A piece of paper,” is how Ukrainian President Volodymyr Zelenskyy referred to one such assurance, signed in 1994. The US itself has given nuclear and nuclear-curious countries plenty of reasons to worry about forgoing the world’s deadliest weapons. The West compelled Libyan leader Moammar Gadhafi to give up his country’s rudimentary nuclear weapons program in 2003. A couple of years later, Gadhafi’s son Saif alIslam shared with researcher Malfrid Braut-Hegghammer his father’s biggest worry about that— that Western nations would support an uprising against him. “And lo and behold, a few years later, get to 2011, you saw what happened,” said Braut-Hegghammer, now a University of Oslo nuclear and security strategy professor. What happened was Nato, at US urging, intervened in a 2011 internal uprising against Gadhafi. A Nato warplane bombed his convoy. Rebels captured the Libyan leader, sexually abused him, and killed him. In Iraq, the US played a central role in forcing Saddam Hussein to give up his nuclear development program. Then the US overthrew Saddam in 2003 on a spurious claim he was reassembling a nuclear weapons effort. Three years later, with Iraq still under US occupation, Saddam plunged through a gallows. The Middle East leaders’ fall and brutal deaths have clouded denuclearization efforts with North Korea. Rare US-North Korea talks in 2018 collapsed after the Trump administration repeatedly raised the “Libya

of millions of tons of grain to global markets. 2. The United Nations has warned of an impending food calamity in 2023 since currently 1.2 billion people, or one in six of the world’s populations, are severely suffering from rising prizes of food and energy and the worsening financial conditions. The war must stop for food supplies to resume. 3. We want to make it clear that the European policies are not shortsighted. We have never targeted Russian agricultural and fertilizer exports. EU sanctions do not prohibit Russia to export

EU, China aim for talks in next few weeks–EU ambassador

he European Union and China are planning two high-level meetings in coming weeks, but the talks must tackle real bilateral issues and provide tangible benefits, according to the bloc’s ambassador in Beijing. The two sides will hold the highlevel dialogs on the economy and on climate and the environment “in the next few weeks, hopefully,” Nicolas Chapuis, the EU’s ambassador in China, told Bloomberg Television in Beijing on Monday. “We are continuing to press for engagement and solving the issues at hand. Addressing the issues, not sweeping them

under the rug.” The talks will follow a summit in April which Josep Borrell, the EU’s own chief diplomat, described as “a dialog of the deaf” with China refusing to discuss the war in Ukraine, human rights, or other issues in the relationship. At that time, China pushed for the economic dialog to be restarted and for the two sides to continue their cooperation on combating climate change, according to Chapuis. “We need to talk and we need to find where we can solve issues. For this we need to have a shared account of facts which is missing today sometimes,” he said. In addition, “we need

to bring back to our constituents -our business people, our students, our members of parliaments, evidence that engagement with China is productive.”

Investment treaty

Relations reached a recent high point at the end of 2020 when the two sides signed a long-awaited investment treaty, but quickly deteriorated after the EU sanctioned Chinese officials over accusations of human rights abuse in Xinjiang. China responded by placing sanctions on European lawmakers, academics and others, leading the bloc

to freeze the investment deal. Since then China has sanctioned trade with EU member Lithuania in a clash over Taiwan and refused to condemn Russia’s invasion of Ukraine. There’s no prospect of the investment deal being ratified at the moment, with Borrell saying in April that “as long as Chinese countermeasures will be in place there is no prospect for the ratification of the Comprehensive Agreement on Investment to move ahead.” However, Chapuis suggested that China could unilaterally implement the provisions of the draft agreement if it wanted to send a positive signal to

Europe and it companies. He also issued a warning that Europe expects China to open its market more or lose some of the access that Chinese firms have to the single market, noting that the European Council last week adopted a new regulation on public purchasing. “Today, if any country including China, doesn’t open its public procurement to European companies, then Chinese companies won’t be able to bid as they can today for public procurement in Europe,” Chapuis said. “It is as simple as that. Reciprocity.” “I think they understand that

model” and Vice President Mike Pence threatened Kim Jong-un with Gadhafi’s fate. “Ignorant and stupid,” North Korea’s government responded. Russia’s invasion of Ukraine now “only highlights to some countries, at least, that if you have a nuclear weapons program, and you’re sort of far along with that, giving it up is a terrible idea,” Braut-Hegghammer said. The world’s nine nuclear powers—the United States, Russia, France, China, the United Kingdom, Pakistan, India, Israel and North Korea—hold some 13,000 nuclear weapons. Israel does not acknowledge its nuclear program. The biggest nuclear powers historically have sought to control which countries can licitly join the club. Countries that proceed regardless, including Iran and North Korea, are isolated and sanctioned. Nuclear experts mention South Korea and Saudi Arabia as among the countries mostly likely to consider nuclear weapons. Saudi Crown Prince Mohammed bin Salman in 2018 pledged to immediately acquire nuclear bombs if Iran did. It’s surprising that more countries haven’t acquired a bomb, Jessica Cox, head of Nato’s nuclear directorate, said at the April forum. “If you look at it from a historical perspective, it is not at all clear in the 1950s and 1960s that there would be less than 10 nations armed with nuclear weapons in the world...70 years later.” What made the difference in Europe was Nato’s nuclear deterrence—30 nations sharing responsibility and decision-making for a nuclear arsenal that deters attacks on them all, Cox said. Many feel Ukraine made the right decision when it avoided possible isolation by waiving a nucleararmed future. That gave Ukraine three decades to integrate with the world’s economy and build alliances with powerful nations now aiding its defense against Russia. As a young woman in Ukraine, Budjeryn realized at one point after the 1990s accords that her own job, then in business-development, was funded by the Clinton administration, as part of the West’s rewards to Ukraine for the nuclear deal. “If Ukraine prevails,” she said, “ then it will communicate that nuclear weapons are useless.” “But if Ukraine falls, the story will look very different,” she said. Chang reported from Seoul

any agricultural goods, payment for such Russian exports or the provision of seeds (provided that sanctioned individuals or entities are not involved). EU sanctions do not create obligations for non-EU operators, unless their business is conducted at least partly within the EU. We are ready to work with the UN and partners to prevent any unwanted impacts of our sanctions on global food security. 4. To avoid an even bigger catastrophe, Ukrainian exports through the Black Sea must resume. Luc Véron EU Ambassador

maybe they have underestimated that Europe, the Union, is becoming a power in it’s own right, and not just an open market,” he said, adding that it’s clearly in China’s interest to maintain access to Europe’s markets.

Covid zero backlash

Economic ties are one of the bright spots in the relationship, and at the moment “the economic links are massive and trade has not slowed down,” Chapuis said. However, “European companies are delaying investment decisions “because everyone is waiting for an exit strategy in China from Covid restrictions.” Bloomberg Opinion

A20 Wednesday, June 22, 2022

BIR to pilot in July system boosting e-receipt issuance

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of Internal Revenue (BIR) is set to start pilot implementation next month of its new web-based system that will make it easier for taxpayers to issue electronic receipts or invoices and boost the tax audit capabilities of its revenue offices to ensure efficient tax collection.

The newly-launched Electronic Invoicing/Receipting and Sales Reporting System (EIS) will be implemented by the government’s main collection agency in July this year for identified 100 large taxpayers who are engaged in e-commerce, export of goods and services, and taxpayers registered under the BIR’s Large Taxpayers Service. Under the Tax Reform for Acceleration and Inclusion (TRAIN) law, the BIR is mandated within five years from the effectivity from the law and upon its establishment of a system capable of storing and processing the required data to require identified taxpayers to issue electronic receipts or invoices and electronically report

their sales data. The system is equipped with three portals: EIS Taxpayer Portal, EIS Certification Portal and EIS Portal for Revenue Officers. With the EIS Taxpayer Portal, taxpayers can use its facility to issue electronic invoices or receipts to their customs apart from storing and processing the required sale data, such as buyer information, sales amount, discounts, among others. Moreover, taxpayers can also issue, in single or in bulk, their electronic invoices or receipts, issue correction documents, such as Debit Memo, Credit memo and other adjustment documents to a previously issued e-invoice. They can also inquire into the history of the corrected

e-receipts or e-invoices. Taxpayers can also easily search for the desired e-receipts/e-invoices information by entering various search parameters, such as by type of transaction, by period, by customer, etc. Downloading of files is also available for taxpayers to check the details of e-receipts/e-invoices. The portal also shows the statistics, including the total amount of e-receipts/e-invoices per period or per customer and also allows the the registration and management of customer. Meanwhile, the EIS Certification Portal will help taxpayers create their sales data transmission system and request for their EIS Certification and finally to enable transmission of sales data, request for EIS Permit to Transmit (PTT). Requests for using the sandbox and Application Programming Interface (API) testing can also be done through this portal. It also provides an API guide, which includes a development guide for sending invoices and asking about the EIS API processing result, samples that users can use as reference actual system development, among others. Lastly, the EIS Portal for Revenue Officers will provide the BIR with reliable sales data that can be used by revenue officers in their tax assessment. This is expected to

5 FILIPINOS, INCLUDING BABY, DIE IN NZ CRASH By Malou Talosig-Bartolome @maloutalosig

increase the agency’s productivity and improve their efficiency in auditing tax payment deficiencies and eventually collect more taxes for the government. The Philippines and Korea earlier signed a Record of Discussions, which include the agreements on the undertakings of each of the parties including the funding of the pilot implementation of the e-Invoicing/e-Receipting and Sales Reporting Project. For the development of the eInvoicing/e-Receipting System, Korea International Cooperation Agency (KOICA) commissioned the services of Douzone Consortium. KOICA also donated the software, and equipments comprising servers, storage and peripherals, 270 desktops, 130 laptops and 130 printers, that were turned over to the BIR. The software and the said equipment were placed at the newly built state-of-the-art EIS Data Center, which the Bureau inaugurated on June 13. Korean Ambassador to the Philippines Kim Inchul led the inauguration ceremony, together with Finance Undersecretary Antonette C. Tionko and Finance Undersecretary Mark Dennis Y.C. Joven, BIR Commissioner Caesar R. Dulay, KOICA Country Director Kim Eunsub and representatives from Douzone Consortium.

EVEN family members, five of them Filipinos including a 10-monthold baby, died Sunday in a freak accident after their van crashed head-on with a refrigerated truck near Picton, New Zealand, Philippine Ambassador to Wellington Jesus “Gary” Domingo said. Two other family members on board the mini-van survived. “Our condolences and prayers for our kababayans who perished in Picton,” Domingo posted on Facebook. New Zealand media identified the victims as married couple Paul and Diseree Brown, 61 and 48, and their youngest son, Mark, 14. Diseree’s sister Divine Dolar, 56, and Dolar’s daughter, Divine Flordeliza, 19. A Ta iwanese woman, whose identity was being withheld, died in the accident, along with her daughter Mica, who was barely 10 months old. The woman is the partner of Diseree’s son, Pedro Clariman, 26, who survived

US maritime expert: PHL forfeited global support after ’16 win

HE Philippine government squandered its biggest win in the South China Sea disputes when it decided to remain silent about it, an American maritime expert said. Manila, under the leadership of President Duterte, also dillydallied on implementing the military access agreement with Washington DC, which Beijing took advantage of. As a result, China now dominates the naval, air, missile and electromagnetic spectrum in the South China Sea, said Gregory Poling, senior fellow for Southeast Asia and director of the Asia Maritime Transparency Initiative at Center for Strategic and International Studies. “The biggest missed opportunity was July 12, 2016 (the day the arbitral ruling was announced),” Poling said in an interview with BusinessMirror and CNN Philippines. According to the Permanent Court of Arbitration, China’s claim that it owns the South China Sea has no legal maritime basis. It was a legal victory for the Philippines when it challenged China’s nine-dash lines around the South China Sea. China did not participate in any of the arbitration proceedings in The Hague and never accepted the ruling. Poling said as soon as the arbitration tribunal ruled in favor of the Philippines, 56 countries “were willing to demand” that China “comply” with the ruling. “But the Philippine government didn’t ask for (international support),” he quipped. “Nobody—aside from a small number of countries, if I’m not mistaken eight -- was willing to stand up for the Philippines when it wouldn’t stand up for itself,” he added. The Philippine government also failed to rally the support of the UN General Assembly when China continued to defy the ruling. “The Philippine government has never called for a vote before the UNGA. Respectfully, I think it would

win. There might be a few abstentions among countries who don’t want to upset China,” he added.

‘Pure law is victor’

IN a speech during the US-Asean Summit in Washington DC last May, Foreign Affairs Secretary Teodoro Locsin Jr. justified Duterte’s policy to stand down on rhetoric against China even after winning the arbitration ruling. “After winning that case, we did not actively seek its recognition by the international community. That would have undermined the totality of our victory by diluting its binding force with the seeming need for international acclamation and support. The victor is pure law,” Locsin explained. Poling said the incoming new administration of President-elect Ferdinand “Bongbong” Marcos can still revive the arbitral award. “It’s not too late to bring back the arbitral award now. But the new administration will have a much harder time now because the old administration waited for six years not doing this,” he said. Poling also lamented “another missed opportunity on the decision not to implement EDCA (Enhanced Defense Cooperation Agreement) right away.” EDCA is the military access agreement allowing US forces visiting the Philippines for military exercises to use its military camps and other logistics. EDCA was signed in 2014 but its constitutionality was questioned, and later upheld, before the Supreme Court. “ We d i d n o t h i n g (w i t h EDCA) while China continued to build up its islands, to modernize. As a result, the Philippine armed forces are in much worse condition today than they were even a few years ago,” he added. Poling is in Manila to promote his book entitled ““On Dangerous Ground: America’s Century in the South China Sea.” Malou Talosig-Bartolome

the accident. Another son of Diseree, Luie Lagud, 16, was earlier in a coma in the hospital in Wellington and is still in critical condition after undergoing surgery. The crash is New Zealand’s deadliest since 2019 and is the worst in the South Island in more than two decades. Pictures taken at the accident site show the van in a crumpled and wrecked state. The family from Auckland embarked on a land and interisland sea trip to attend the funeral of their aunt in the town of Gore, south of New Zealand. On their way back to Auckland, they spent the night in a friend’s house in Christchurch, and then left around 2:30 a.m. Saturday so they can catch a ferry to the North Island. Around 7:30 a.m. Sunday, while at the State Highway 1 towards Picton, the northern town of South Island, their Toyata HiAce van apparently crossed the center line and smashed head-on into a Big Chill truck. Ambassador Domingo said the Embassy and Philippine Overseas Labor Office in Wellington are assisting the family.

From DepEd, Briones moves to Seameo Innotech By Claudeth S. Mocon-Ciriaco @claudethmc3

HE has spent several decades working, but outgoing Education Secretary Leonor Magtolis Briones might not have the time to catch up on extra sleep yet nor any leisure activity, as she will take on a new responsibility. The Department of Education on Tuesday announced that Briones has been appointed Centre Director of the Southeast Asian Ministers of Education Organization Regional Centre for Educational Innovation and Technology (Seameo Innotech). “We greatly appreciate the leadership of Secretary Briones in the Department as we witnessed various accomplishments in attaining accessible and quality basic education during her full sixyear term,” the DepEd said. The DepEd alao expressed confidence that Briones will continue her plans and platforms in Seameo Innotech, “given her vast experience in public service and international relations.” Before her appointment to Seameo Innotech, Briones served as Vice President of the Seameo Council from 2021 to 2022. Seameo Innotech is a regional center of Seameo based in the Philippines that identifies education problems and develops innovative and technology-based solutions for Southeast Asian countries. “We wish our beloved Secretary Briones, who is nominated by outgoing President Rodrigo Roa Duterte and appointed by Singapore Education Minister and Seameo Council President Mr. Chan Chun Sing, well in her assumption as Centre Director on August 1, 2022,” the DepEd added.

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, June 22, 2022 B1

Razon’s Prime Infrastructure aims to raise ₧28B from IPO By VG Cabuag @villygc

illionaire Enrique K. Razon's Prime Infrastructure Capital Inc., which has assets in the country's water and energy sectors, has filed for a P28-billion initial public offering (IPO). In its prospectus filed with the Securities and Exchange Commission, the company said its offer consists of the primary offer and sale of 1.75 billion in common shares and an over-allotment option of 175.57 common shares at an indicative price of P14.60 apiece. The company engaged CLSA Limited, BDO Capital and Investment Corp. and BPI Capital Corp. as joint bookrunners for the transaction. Net proceeds from the offer will be used to fund projects in the Prime Infrastructure's energy, water, and waste and sustainable

fuels businesses. Assuming the over-allotment option has been sold, the company said some P23 billion will be used for its energy business, P3.5 billion for its water units and P1.1 billion for waste and sustainable fuels business that it plans to disburse this year. The company has booked a core net income of P243.3 million last year, 31 percent lower than the previous year's P356 million. It reported a loss of P78.7 million in 2019 and P117.3 million in 2018. In the first quarter, the company reported an income of P148.4 million on revenues of

P5.79 billion. Prime Infrastructure is a holding company focused on the ownership of firms across four core industrial sectors—water, energy generation, construction, and waste and sustainable fuels—in the Philippines and other emerging markets. The company's principal operating businesses and portfolio companies are held through direct shareholdings in wholly owned subsidiaries, Prime Metro Power Holdings Corp., Prime Metroline Infrastructure Holdings Corp. and Prime Infrastructure Inc., which then owns Trident Water. Trident Water has voting and economic interests of 52.16 percent economic interest and 35.6 percent of the preferred shares of East Zone concessionaire Manila Water Co. Inc. Prime Infrastructure also owns 82 percent of WawaJVCo, a joint venture enterprise with San Lorenzo Ruiz Builders and Developers Group Inc. formed to develop and operate the Wawa Bulk Water Supply Project and which is expected to increase Manila Water’s water capacity by over 30 percent.

San Miguel, DOTr ink SALEX deal By Lenie Lectura

@llectura

HE Department of Transpor t at ion (DOTr) a nd San Miguel Corp. (SMC) signed last Monday the Southern Access Link Expressway (SALEX) Project Supplemental Toll Operations Agreement (STOA), paving the way for the start of construction of the four sections of the expressway. To be built are the C3-R10 Extension, Shoreline Expressway, Quirino Extension, and Buendia (Gil Puyat Avenue) Extension. The C3-R10 extension will connect the Metro Manila Skyway Stage 3 (MMSS3) at Sgt. Rivera in Quezon City to the proposed

Shoreline Expressway at R-10. The Shoreline Expressway, meanwhile, starts from Ayala Bridge, passing along Ayala Boulevard, San Marcelino St., Padre Faura St., A. Mabini St., Pedro Gil St., and Roxas Boulevard. The Quirino Extension will connect MMSS3 at the Quirino Interchange to the proposed Shoreline Expressway and in Roxas Boulevard through an elevated structure. The Buendia Extension intends to connect Ninoy Aquino International Airport (NAIA) Expressway to the intersection of Gil Puyat Avenue and Roxas Boulevard, the MMSS3, and EDSA. The SALEX aims to reduce traffic congestion in EDSA, South

Luzon Expressway (SLEX), and other major road corridors in Metro Manila through road networks that will service both cargo and passenger traffic. T he DOTr, SMC , and Tol l Regulatory Board also aim for the SALEX to contribute to the economic development of the National Capital Region and Central Luzon. The toll road aims to provide an efficient and direct access to the New Manila International Airport or the Bulacan Airport as well as support the gateway to deliver its full economic potential. DOTr Secretar y A r thur P. Tugade and SMC President Ramon Ang led the signing ceremony.

Nidec to expand operations in Subic By Henry Empeño

Correspondent

ubic Bay Freeport—Nidec Subic Philippines Corp., a Japanese firm manufacturing speed reducer gears for robotic applications, is set to undertake a P4-billion expansion program here in the next three years. This was disclosed by company president Takeshi Yamamoto and Nidec administration adviser Toshihiko Kasahara in a meeting with Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Rolen C. Paulino Sr. recently. The company expects to quadruple its workforce under its expansion project. The expansion program will entail the production of f lexwave, which is said to be a midsized speed reducer used in the manufacture of power assist suits. The market for this product, particularly in the nursing industry, is expected to reach 12 billion yen and to more than quintuple in the next five years, industry reports indicated. Nidec officials said the expansion program will be in two phases: the first being the renovation of two company buildings

Photo shows the Nidec factory building at the Subic Techno Park in the Subic Bay Freeport. Henry Empeño

at the Subic Techno Park, which is set to be finished in the third quarter of 2022; and the second, the completion of a new factory building by the end of this year. The expansion is necessary, officials added, for the firm to fulfill its annual production target of 350,000 units, with all of the finished products exported to the United States, Europe, Japan, Korea, China, India, and Brazil. Pau l ino, meanwhi le, commended Nidec’s plan to generate some 3,400 jobs under the expansion program, pointing out that this will increase the number of its workers from the current 625 to 4,028 once the expansion project is underway. “Skilled workers from the Freeport’s adjacent communities are

certainly in high demand,” the SBMA chief noted. “The SBMA will help in any way it can to provide the company the manpower needed for its expansion operation." He also lauded Nidec Subic for its confidence in the SBMA and for choosing the Subic Bay Freeport for its expansion program. Nidec manufactures precision electronic equipment, direct-drive spindle motors, and specialized digital core parts for multimedia and also operates factories in Mandaluyong City and Biñan, Laguna. The planned hiring of more workers is a huge turnaround for Nidec Subic, which retrenched 784 of its workers in January last year at the height of the Covid-19 pandemic.

Its power assets include its investments in SP Tarlac, which operates or have invested in energy generation, including hydro, solar and gas, in the Philippines and Iraq. Construction firm Prime BMD Corp., the company's joint venture with Australian civil contractor BMD International Pty Ltd. can do projects such as roads and bridges, marine infrastructure and dredging services, airport infrastructure, building works, water and wastewater infrastructure, rail infrastructure, and commercial and residential land subdivision projects. A substantial revenue of the construction firm, however, came from Razon's business expansion projects such as the Manila International Container Terminal, which is building its Berth 7, Solaire North's base build, the development of the Cabading Reservoir and the construction of the Tayabasan Weir and Upper Wawa Dam pumping station and conveyance system. The company also has a 7.7 percent ownership of the issued share capital of WasteFuel Global, a California-based entity founded to utilize scalable technologies to convert municipal trash and agricultural waste into low-carbon fuels, renewable natural gas, and green methanol.

ERC caps market fees of WESM T

he Energy Regulatory Commission (ERC) has capped the cost of administering and operating the wholesale electricity spot market (WESM) at a total of P897.93 million for the years 2019 and 2020. In a resolution, the ERC has set the Market Transaction Fees (MTFs) for 2019 and 2020 at P448,966,163.25, respectively. The same amount is the authorized level of market fees for 2018. MTF is the cost of administering and operating the WESM. The Philippine Electricity Market Corp. (PEMC), the autonomous group market operator and governing body of the spot market, files its proposed MTF with the ERC once every two years. The said administrative cost is charged against all market participants, such as power generation companies, Power Sector Assets and Liabilities Management Corp. (PSALM), distribution utilities (DUs), and bulk end-user. In the same resolution, the ERC directed PEMC to implement a refund of its over collection in the MTF for 2019

and 2020, to be apportioned among all the Luzon and Visayas participants. The said resolution did not indicate how much PEMC should return. However, the ERC directed PEMC to submit its action plan for the implementation of the refund scheme, and the corresponding adjustment to the MTF, within 15 days upon receipt of the order dated June 16, 2022. Aside from this, PEMC was told to submit a status of collection and the refund scheme for the approved level of MTF collected previously. It can be recalled that in July 2020, the ERC promulgated its decision on PEMC’s MTF applications for the years 2015 and 2016-2017. In the said decision, the ERC approved a level of MTF significantly lower than the applied amount of PEMC. As a result, the ERC directed the refund of P688,794,087.38 As refund involves generation charges, which is a passthrough charges, the refund that PEMC will extend to the DUs should automatically be extended to the DUs’ consumers. Lenie Lectura

Wednesday, June 22, 2022

Companies BusinessMirror

Cebu Landmasters to raise funds via peso bond issue By VG Cabuag

@villygc

he board of property regional developer Cebu Landmasters Inc. (CLI) has approved the company’s P8-billion peso-denominated fixed rate bond float, which is part of the company’s P15-billion notes under shelf registration. The company said the offer consists of P5 billion in principal amount and P3 billion in oversubscription option.

BPI Capital Corp. and China Bank Capital Corp. were picked as the joint issue managers, joint lead underwriters and joint lead bookrunners for the deal. “This maiden public bond offer of Cebu Landmasters is part of our strategy to sustainably maintain our growth and expansion plans as we serve the housing needs of the Filipino family. Especially in VisMin [Visayas and Mindanao] where the need for quality housing is constantly underserved, CLI is committed to delivering this

essential need and contributing to the development of the communities we are helping to build,” CLI Chief Finance Officer Grant L. Cheng said. “We are pleased to have two of our strongest partners, BPI a nd C hinaba n k , ma nage t his maiden issuance. We’re excited to bring our story to the public debt markets and we believe we have something unique to offer debt investors.” T he bond s have ind icat ive maturities ranging from 3.5 to 7 years, with the periods to be determined during the final offer in

the third quarter. Cebu Landmasters will use the bonds to support its growth plans, primarily by investing into markets where CLI’s initial foray has exceeded expectations and continuing its strategic landbanking activities. The fresh capital will also be deployed to large-scale estate projects such as the 22-hectare Davao Global Township, the 14-hectare Manresa Town in CDO, and the 100-hectare Minglanilla Techno Business Park (Ming-Mori), CLI’s first reclamation project in Minglanilla Cebu.

Shakey’s unveils expansion plans for Potato Corner

hakey’s Pizza Asia Ventures Inc., the company that owns the pizza brand in the region, said it is accelerating the expansion of its Potato Corner business due to huge demand from potential investors who want to own a franchise of the kiosk. Vicente Gregorio, Shakey’s president, said the company plans to double the brand’s presence in three to four years from the previous plan of five to seven years. The company said it is putting up 150 Potato Corner stores this year to complement the over 1,000 stores it has when the company acquired the business. The company said Potato Corner lags behind in terms of footprint when compared with country’s leading convenience store chain 7-Eleven, which has about 3,000 branches and fast-food chain Jollibee, which has more than 1,000 stores in country. Both brands, they said cost millions of pesos to own and operate a branch, compared with their kiosks that sell only French fries with different flavors.

C hr istopher Po, Shakey’s chairman, said the brand has a lot of room for growth, particularly in the Visayas and Mindanao. When the acquisition was announced in December, Shakey’s said the purchase is an “accretive acquisition” as the previous brand owners has built a vast network of presence both locally and overseas since its inception in 1992. “Over the years, the business has built a strong brand equity and demonstrated robust performance, attractive margins, and the capability to scale—all aligned with PIZZA’s criteria for acquisitions,” Shakey’s said. “Nonetheless, Shakey’s will pursue maximizing synergies and wielding its expertise in business development, franchise management, and supply chain operations to further grow the brand sustainably.” In March, the company acquired Potato Corner’s business in Singapore. Gregorio said Potato Corner is “a bankable addition” to the company’s portfolio. “Its co-founder, Jose Magsaysay, has truly established a solid brand foundation with a prod-

uct that universally resonates with consumers. The current scale of Potato Corner and the brand love that it receives from consumers are a tes-

mutual funds

tament to that. We, at Shakey’s, are grateful that Potato Corner’s former owners are entrusting the brand to our team.” VG Cabuag

June 21, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities (shares) ALFM Growth Fund, Inc. -a 205.08 -7.13% -8.42% -5.73% -12.02% ATRAM Alpha Opportunity Fund, Inc. -a 1.3132 -5.27% -7.06% -3.86% -21.09% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8152 -7.17% -12.01% -8.3% -13.05% Climbs Share Capital Equity Investment Fund Corp. -a 0.696 -9.75% -9.93% n.a. -8% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6404 -11.45% -10.26% n.a. -16.93% First Metro Save and Learn Equity Fund,Inc. -a 4.6049 -4.84% -5.88% -3.72% -11.15% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6823 -3.07% -8.44% -6.52% -12.89% MBG Equity Investment Fund, Inc. -a 76.15 -23.73% -14.38% n.a. -19.36% PAMI Equity Index Fund, Inc. -a 41.8622 -7.21% -7.51% -4.43% -13.02% Philam Strategic Growth Fund, Inc. -a 439.89 -7.38% -7.23% -4.29% -12.14% Philequity Dividend Yield Fund, Inc. -a 1.2547 10.26% -2.18% -0.86% -7.49% Philequity Fund, Inc. -a 32.0959 -5.1% -6.55% -3.29% -12.29% Philequity MSCI Philippine Index Fund, Inc. -a 0.8288 -5.87% -7.9% n.a. -11.96% Philequity PSE Index Fund Inc. -a 4.3331 -6.26% -6.89% -3.79% -12.65% Philippine Stock Index Fund Corp. -a 721.9 -6.73% -6.96% -3.86% -12.87% Soldivo Strategic Growth Fund, Inc. -a 0.6492 -7.81% -11.43% -6.5% -13.74% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2442 -7.53% -9.56% -5.18% -14.07% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8218 -7.05% -7.25% -4.11% -12.99% United Fund, Inc. -a 3.0254 -5.99% -7.18% -3.18% -11.98% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0382 -3.35% n.a. n.a. -10.71% Philippine Stock Index Fund Corp. -a 879.61 n.a. n.a. n.a. n.a. Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 97.3051 -6.34% -6.75% -3.47% -12.71% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.9262 -26.63% -2.02% -1.33% -17.78% Sun Life Prosperity World Voyager Fund, Inc. -a $1.422 -19.95% 3.2% 4.1% -22.99% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.5343 -8.19% -4.32% -3.01% -9.32% ATRAM Philippine Balanced Fund, Inc. -a 2.0972 -6.22% -3.48% -2.44% -8.08% First Metro Save and Learn Balanced Fund Inc. -a 2.497 -3.52% -2.26% -1.07% -7.21% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1929 -0.52% n.a. n.a. -7.7% -0.43% -7.23% NCM Mutual Fund of the Phils., Inc. -a 1.8709 -3.95% -1.32% PAMI Horizon Fund, Inc. -a 3.4303 -6.63% -3.12% -1.75% -8.89% Philam Fund, Inc. -a 15.3621 -6.77% -3.25% -1.83% -8.81% Solidaritas Fund, Inc. -a 1.9649 -4.41% -3.12% -1.82% -7.38% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2827 -6.36% -5.64% -2.85% -9.99% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8521 -3.17% -5.29% -2.46% -10.7% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.8913 -9.34% -4.54% n.a. -9.95% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8209 -9.03% -7.08% n.a. -13.09% -13.45% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8083 -9.12% -7.46% n.a. Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03302 -13.47% -4.15% -1.64% -12.97% PAMI Asia Balanced Fund, Inc. -b $0.9206 -19.08% -2.08% -1.13% -13.73% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.889 -17.17% 1.34% 2.54% -19.01% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0045 -15.75% -1.83% -0.16% -16.19% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 372.26 0.05% 2.1% 2.23% -0.55% ATRAM Corporate Bond Fund, Inc. -a 1.886 -2.13% -0.11% 0.01% 0.07% Cocolife Fixed Income Fund, Inc. -a 3.2253 -0.08% 1.92% 3.28% -0.58% Ekklesia Mutual Fund Inc. -a 2.1691 -4.06% -0.21% 0.6% -3.66% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.396 -1.87% 1.23% 1.58% -1.24% Philam Bond Fund, Inc. -a 4.1822 -6.89% 0.13% 0.51% -4.85% Philam Managed Income Fund, Inc. -a 1.3039 -1.5% 2.45% 2.55% -1.15% Philequity Peso Bond Fund, Inc. -a 3.866 -2.71% 1.66% 2.1% -2.52% Soldivo Bond Fund, Inc. -a 1.0052 -3.05% 2.25% 1.58% -2.24% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1292 -2.61% 1.96% 2.52% -1.83% Sun Life Prosperity GS Fund, Inc. -a 1.6923 -3.21% 1.03% 1.82% -2.21% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $481.11 -0.99% 1.64% 1.78% -1.73% ALFM Euro Bond Fund, Inc. -a Є210.85 -4.19% -0.99% -0.09% -4.16% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0664 -10.11% -3.35% -1% -11.42% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.9% -1.85% -0.49% -6.54% PAMI Global Bond Fund, Inc -b $0.8956 -14.59% -6.23% -3.66% -12.44% Philam Dollar Bond Fund, Inc. -a $2.2057 -11.95% -2.1% -0.23% -11.97% Philequity Dollar Income Fund Inc. -a $0.0607648 -3.51% 1.04% 1.22% -2.45% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7344 -14.08% -3.94% -1.86% -14.45% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132 1.34% 2.28% 2.52% 0.62% First Metro Save and Learn Money Market Fund, Inc. -a 1.0634 1.03% 1.59% n.a. 0.54% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3252 1.56% 2.16% 2.48% 0.73% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0637 0.6% 1.16% n.a. 0.29% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 42.6431 n.a. n.a. n.a. n.a. Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.1544 -8.39% n.a. n.a. -16.52% Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.8113 -18.05% n.a. n.a. -16.36% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa. com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

June 21, 2022

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

ASIA UNITED 43 44.8 43 43 43 43 2,800 120,400 BDO UNIBANK 123 123.1 122.5 123.9 122 123 1,490,920 183,202,076 8.5 8.57 8.53 8.53 8.5 8.5 13,400 114,266 BANK COMMERCE BANK PH ISLANDS 92.6 92.95 93.9 94.4 92.3 92.6 826,100 76,563,531 26.7 26.75 26.75 26.75 26.7 26.7 216,300 5,780,090 CHINABANK EAST WEST BANK 7.03 7.04 7.01 7.05 7.01 7.04 31,800 223,824 METROBANK 50.35 50.4 50.95 50.95 49.95 50.35 763,940 38,338,395 17.94 17.98 18.6 18.6 17.94 17.98 163,300 2,934,096 PHIL NATL BANK PSBANK 55.3 56.7 55.15 55.3 55.15 55.3 1,500 82,755 93 115.9 90.5 90.5 90.5 90.5 120 10,860 PHILTRUST RCBC 19.86 20.5 19.9 20.45 19.86 19.86 282,200 5,612,310 SECURITY BANK 89.15 89.5 91 91 89.15 89.15 333,270 29,954,282 73.5 73.6 73.2 75 73 73.6 10,020 738,050 UNION BANK BRIGHT KINDLE 2.39 2.4 2.36 2.44 2.3 2.4 2,582,000 6,104,640 3.42 3.43 3.43 3.43 3.42 3.43 9,000 30,830 COL FINANCIAL FIRST ABACUS 0.6 0.67 0.67 0.67 0.67 0.67 7,000 4,690 FERRONOUX HLDG 2.11 2.49 2.18 2.18 2.18 2.18 10,000 21,800 0.69 0.84 0.69 0.69 0.69 0.69 76,000 52,440 IREMIT MEDCO HLDG 0.275 0.31 0.28 0.28 0.28 0.28 80,000 22,400 881 999 1000 1,000 999 999 20 19,990 MANULIFE PHIL STOCK EXCH 190 191 191 192 190 190 2,500 475,414 INDUSTRIAL AC ENERGY 7.35 7.36 7.39 7.44 7.31 7.35 6,876,000 50,455,335 0.92 0.93 0.97 0.97 0.93 0.93 225,000 213,040 ALSONS CONS ABOITIZ POWER 29.25 29.4 29.35 29.55 29 29.4 842,900 24,803,995 1.74 1.75 1.71 1.77 1.71 1.75 27,670,000 48,425,340 RASLAG BASIC ENERGY 0.375 0.38 0.365 0.38 0.365 0.375 2,360,000 870,900 FIRST GEN 16.94 17 17.12 17.16 16.92 17 387,600 6,594,490 60.25 62.95 63 63 60.1 60.2 630 38,640.5 FIRST PHIL HLDG MERALCO 369 371 369.6 371.6 365.2 371 418,920 154,485,772 16.34 16.4 16.66 16.9 16.32 16.4 198,900 3,288,878 MANILA WATER PETRON 3.11 3.15 3.14 3.19 3.1 3.1 1,217,000 3,799,490 PETROENERGY 4.75 4.85 4.85 4.85 4.85 4.85 7,000 33,950 9.27 10 10 10 9.26 10 10,500 101,175 PHX PETROLEUM SYNERGY GRID 12.14 12.16 12.16 12.18 12.02 12.14 392,200 4,750,678 18.4 18.42 18.34 18.42 18.34 18.42 19,900 365,988 PILIPINAS SHELL SPC POWER 8.93 8.94 8.8 8.95 8.74 8.93 133,700 1,184,124 SOLAR PH 1.55 1.56 1.57 1.6 1.54 1.56 43,175,000 67,498,600 4.44 4.6 4.5 4.59 4.4 4.59 147,000 659,760 AGRINURTURE AXELUM 2.24 2.26 2.24 2.26 2.23 2.26 172,000 388,260 10.1 11.08 11.1 11.1 11.1 11.1 300 3,330 CNTRL AZUCARERA CENTURY FOOD 21.55 21.8 21.5 22 21.2 21.55 729,600 15,696,520 DEL MONTE 13.26 13.28 13.26 13.3 13.26 13.28 81,000 1,075,598 6.7 6.71 6.75 6.77 6.65 6.71 3,117,700 20,890,726 DNL INDUS EMPERADOR 18 18.2 18 18.2 17.82 18.2 207,800 3,760,250 49.7 49.75 50 50.3 49.5 49.75 70,570 3,514,834.5 SMC FOODANDBEV FIGARO COFFEE 0.56 0.57 0.6 0.6 0.56 0.57 7,378,000 4,233,700 FRUITAS HLDG 1.07 1.09 1.06 1.1 1.06 1.09 2,674,000 2,898,320 101.5 102 103.9 104 100 102 12,970 1,309,386 GINEBRA JOLLIBEE 196.4 196.8 197 198.8 194.5 196.8 487,410 96,061,291 1.12 1.13 1.11 1.13 1.11 1.13 620,000 695,410 KEEPERS HLDG LIBERTY FLOUR 17.04 19 17.98 19 17.98 19 1,500 27,592 MAXS GROUP 4.35 4.4 4.5 4.55 4.4 4.4 131,000 581,360 0.113 0.125 0.113 0.125 0.113 0.125 1,510,000 170,750 MG HLDG MONDE NISSIN 13.26 13.44 13.18 13.48 13.14 13.44 2,211,600 29,582,846 6.9 7.05 6.8 6.8 6.8 6.8 3,500 23,800 SHAKEYS PIZZA ROXAS AND CO 0.52 0.54 0.53 0.54 0.52 0.54 190,000 100,510 RFM CORP 3.97 4 4 4 3.99 4 4,000 15,990 1.48 1.52 1.51 1.52 1.48 1.52 25,000 37,750 ROXAS HLDG SWIFT FOODS 0.099 0.101 0.094 0.1 0.094 0.1 730,000 72,210 96.5 97 98 98 96.1 97 1,018,220 98,618,815.5 UNIV ROBINA VITARICH 0.58 0.6 0.61 0.61 0.61 0.61 41,000 25,010 VICTORIAS 2.5 2.77 2.49 2.49 2.48 2.48 20,000 49,640 0.63 0.64 0.63 0.65 0.63 0.63 505,000 320,400 CEMEX HLDG EAGLE CEMENT 12.14 12.38 12.2 12.38 12.2 12.38 12,700 155,606 3.13 3.25 3.28 3.37 3.13 3.25 217,000 714,860 EEI CORP HOLCIM 5.14 5.19 5.19 5.19 5.14 5.14 24,000 123,545 MEGAWIDE 3.33 3.35 3.45 3.45 3.32 3.35 399,000 1,336,400 18.52 19.3 19.1 19.5 19.1 19.5 2,600 49,740 PHINMA TKC METALS 0.71 0.76 0.66 0.66 0.6 0.6 40,000 24,600 0.8 0.81 0.81 0.81 0.78 0.8 728,000 579,330 VULCAN INDL EUROMED 1 1.03 1.03 1.03 1.03 1.03 1,000 1,030 MABUHAY VINYL 5.41 5.76 5.94 6 5.41 5.77 7,000 40,490 5.35 5.58 5.26 5.26 5.25 5.25 34,700 182,265 PRYCE CORP CONCEPCION 18.56 19.14 18.02 19.14 18.02 19.14 700 13,286 1.65 1.67 1.67 1.67 1.64 1.67 8,731,000 14,417,020 GREENERGY INTEGRATED MICR 6.02 6.05 6.3 6.3 6.01 6.05 61,000 370,617 IONICS 0.55 0.57 0.57 0.57 0.57 0.57 5,000 2,850 5.71 6.01 5.71 5.71 5.7 5.7 11,500 65,601 PANASONIC SFA SEMICON 0.93 0.94 0.99 1 0.94 0.94 164,000 155,950 2.48 2.49 2.56 2.62 2.42 2.49 1,055,000 2,631,460 CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL 1.31 1.32 1.28 1.34 1.28 1.31 23,497,000 30,945,460 AYALA CORP 630 635 643 649.5 628 630 196,250 124,553,020 48.1 49.2 49 49.2 48.1 49.2 601,100 29,284,655 ABOITIZ EQUITY ALLIANCE GLOBAL 9.34 9.35 9.6 9.6 9.3 9.35 1,501,600 14,089,270 8.75 8.85 8.77 8.85 8.77 8.85 6,400 56,208 ANSCOR ANGLO PHIL HLDG 0.82 0.83 0.82 0.84 0.82 0.84 7,000 5,760 ATN HLDG A 0.41 0.42 0.425 0.43 0.41 0.41 1,770,000 731,200 0.425 0.47 0.425 0.425 0.42 0.42 510,000 216,700 ATN HLDG B COSCO CAPITAL 4.35 4.37 4.35 4.37 4.33 4.37 983,000 4,290,510 8.55 8.6 8.5 8.64 8.4 8.6 4,866,200 41,408,425 DMCI HLDG GT CAPITAL 481 488 484 488 480 488 50,170 24,293,400 HOUSE OF INV 3.39 3.45 3.41 3.41 3.39 3.39 21,000 71,330 48.55 49.9 49.9 49.9 48.35 49.9 1,250,600 61,586,995 JG SUMMIT KEPPEL HLDG B 7.5 8.5 8.25 8.25 7.5 7.5 200 1,575 0.52 0.57 0.5 0.58 0.5 0.58 88,000 44,130 LODESTAR LT GROUP 8.04 8.1 8.06 8.14 8.02 8.1 937,300 7,560,299 METRO PAC INV 3.62 3.64 3.61 3.65 3.61 3.62 31,132,000 112,841,440 2.05 2.13 2.62 2.62 2.01 2.15 134,000 289,060 PACIFICA HLDG PRIME MEDIA 3.11 3.14 2.98 3.17 2.92 3.11 7,858,000 24,173,750 774 774.5 790 796.5 772 774 390,460 304,345,165 SM INVESTMENTS SAN MIGUEL CORP 101 101.8 101.9 102 100.8 101.8 45,230 4,598,031 TOP FRONTIER 102.2 108 102.2 108 102.2 108 1,820 194,704 0.17 0.176 0.166 0.176 0.166 0.176 70,000 12,120 ZEUS HLDG PROPERTY ARTHALAND CORP 0.52 0.56 0.53 0.56 0.53 0.56 52,000 28,160 27.65 27.8 27.9 28.45 27.4 27.65 9,489,500 262,794,090 AYALA LAND AYALA LAND LOG 3.2 3.23 3.24 3.25 3.19 3.23 671,000 2,158,610 12.6 13.58 12.5 13.58 12.5 13.58 900 12,114 ALTUS PROP 2.21 2.22 2.1 2.28 2.1 2.21 11,482,000 25,134,990 ARANETA PROP AREIT RT 34.85 34.95 36.15 37.2 34 34.85 3,372,000 118,779,700 0.8 0.81 0.75 0.82 0.75 0.82 252,000 194,410 A BROWN CROWN EQUITIES 0.082 0.085 0.086 0.086 0.083 0.085 120,000 10,010 2.58 2.6 2.61 2.62 2.58 2.6 227,000 590,070 CEB LANDMASTERS 0.375 0.39 0.38 0.38 0.38 0.38 350,000 133,000 CENTURY PROP CITICORE RT 2.45 2.47 2.4 2.46 2.35 2.45 11,402,000 27,810,540 8.32 8.33 8.8 8.83 8.2 8.33 328,600 2,754,154 DOUBLEDRAGON DDMP RT 1.47 1.48 1.48 1.5 1.47 1.47 2,358,000 3,500,770 6.75 6.76 6.74 6.78 6.73 6.76 27,400 185,292 DM WENCESLAO EVER GOTESCO 0.249 0.25 0.255 0.26 0.249 0.25 11,590,000 2,898,610 FILINVEST RT 6.81 6.89 6.77 6.89 6.72 6.81 1,136,000 7,717,184 0.88 0.9 0.86 0.9 0.86 0.88 1,996,000 1,754,610 FILINVEST LAND GLOBAL ESTATE 0.85 0.87 0.85 0.85 0.85 0.85 307,000 260,950 10.26 10.4 10.16 10.44 10.16 10.44 6,600 67,196 8990 HLDG PHIL INFRADEV 0.99 1.02 1.02 1.02 0.99 1 66,000 66,310 CITY AND LAND 0.73 0.75 0.76 0.76 0.76 0.76 6,000 4,560 2.3 2.32 2.3 2.37 2.3 2.32 29,663,000 68,872,180(2, MEGAWORLD MRC ALLIED 0.194 0.195 0.192 0.195 0.19 0.195 2,630,000 501,510 15.6 15.7 15.32 15.76 15.32 15.6 263,500 4,121,214 MREIT RT 0.38 0.4 0.38 0.38 0.38 0.38 600,000 228,000 PHIL ESTATES PRIMEX CORP 1.95 1.97 1.96 1.99 1.93 1.97 209,000 405,830 6.48 6.5 6.37 6.55 6.37 6.5 1,794,700 11,691,996 RL COMM RT ROBINSONS LAND 16.98 17 17.3 17.38 17 17 468,200 7,972,962 0.2 0.236 0.2 0.2 0.2 0.2 40,000 8,000 PHIL REALTY ROCKWELL 1.2 1.24 1.19 1.25 1.16 1.25 58,000 69,580 SHANG PROP 2.46 2.49 2.49 2.49 2.49 2.49 5,000 12,450 2.91 3.04 3.05 3.05 2.85 3.05 39,000 113,550 STA LUCIA LAND SM PRIME HLDG 36.15 36.45 37.1 37.2 36.05 36.45 6,631,800 241,151,215 0.5 0.61 0.5 0.5 0.5 0.5 18,000 9,000 SOC RESOURCES VISTAMALLS 3.44 3.5 3.54 3.54 3.5 3.5 14,000 49,150 SUNTRUST RESORT 0.9 0.95 1.05 1.05 0.95 0.95 345,000 329,250 1.96 1.98 1.96 2 1.94 1.96 300,000 591,950 VISTA LAND VISTAREIT RT 1.71 1.72 1.72 1.73 1.71 1.72 5,711,000 9,837,620

(43,758,559) (29,588,679) 3,837,725 (129,597) (18,318,238) 2,221,452 10,860 (4,936,111) 122,883.5 (2,539,530) 19,600 (456,314) (6,085,654) (4,755,455) 37,000 (3,686,324) (3,611) (44,822,200) (1,606,906) 166,550 (1,248,384) 260,514 1,195,900 (275,700) (22,599.9999) 5,107,130 687,866 (2,659,088) (680,240) (853,543.5) (21,220) (331,760) (25,444,278) (315,850) (7,775,726) (3,494,039) 59,530 (52,460) (440,200) 490 (15,036) 34,371 47,000 142,700 (9,182,190) (13,320,945) (6,611,645) (2,521,071) 4,200 (217,210) (11,784,183) (1,557,654) (67,940) (11,849,285) (750) (2,510,518) (104,400,650) 41,973,430 360,110 (51,372,055) (299,660) 1,250 54,180 1,808,380 2,600 608,620 (85,776) 34,210 331,586 (1,103,230) (48,000) 556,939.9997) 89,052 (87,400) 3,550,519 (722,282) 8,078,570 (59,610) (272,210) 980,200

SERVICES ABS CBN 8.63 8.7 8.51 8.7 8.4 8.7 101,300 868,532 11.62 11.7 11.6 11.9 11.56 11.62 845,800 9,884,048 GMA NETWORK MANILA BULLETIN 0.335 0.375 0.34 0.34 0.34 0.34 20,000 6,800 2,100 2,112 2102 2,164 2,100 2,100 56,970 120,620,080 (5,088,040) GLOBE TELECOM PLDT 1,777 1,790 1830 1,850 1,760 1,790 84,120 150,535,245 (40,209,005) APOLLO GLOBAL 0.039 0.041 0.041 0.042 0.04 0.04 350,200,000 14,041,700 68,000 19.32 19.38 19.5 20 19.32 19.32 9,063,900 177,619,636 (33,880,668) CONVERGE DFNN INC 3.13 3.2 3.15 3.28 3.13 3.13 88,000 276,740 3.66 3.67 3.7 3.72 3.63 3.67 2,311,000 8,511,990 (363,900) DITO CME HLDG NOW CORP 1.18 1.21 1.14 1.21 1.13 1.21 1,747,000 2,001,780 11,390 TRANSPACIFIC BR 0.28 0.285 0.28 0.285 0.28 0.28 790,000 222,050 6.85 6.99 6.85 6.85 6.85 6.85 600 4,110 2GO GROUP CHELSEA 1.3 1.36 1.36 1.36 1.3 1.36 111,000 146,890 19,800 41.65 42 42.45 42.45 41.6 41.65 42,200 1,762,050 (818,140) CEBU AIR INTL CONTAINER 195.1 198 200 202.4 195.1 195.1 873,820 172,988,231 5,266,457 LORENZO SHIPPNG 0.46 0.53 0.46 0.53 0.46 0.53 40,000 19,850 4.2 4.27 4.28 4.3 4.18 4.27 239,000 1,020,630 110,500 MACROASIA PAL HLDG 5.86 5.87 5.88 5.88 5.55 5.86 10,900 62,585 1,759 0.86 0.88 0.86 0.88 0.85 0.86 163,000 141,410 HARBOR STAR BOULEVARD HLDG 0.084 0.085 0.082 0.088 0.082 0.085 70,270,000 5,999,400 424,960 STI HLDG 0.315 0.325 0.325 0.325 0.315 0.315 260,000 84,200 1.22 1.23 1.23 1.24 1.22 1.22 143,000 175,120 (9,920) BELLE CORP BLOOMBERRY 5.9 5.92 5.79 6 5.78 5.9 11,338,900 66,988,058 (26,910,348) 1.39 1.43 1.4 1.4 1.4 1.4 20,000 28,000 PACIFIC ONLINE LEISURE AND RES 1.38 1.39 1.4 1.4 1.35 1.38 1,292,000 1,787,440 PH RESORTS GRP 0.9 0.91 0.94 0.94 0.89 0.91 2,463,000 2,239,110 (1,448,180) 0.395 0.4 0.4 0.405 0.395 0.4 2,120,000 849,850 (3,950) PREMIUM LEISURE PHILWEB 5.92 5.95 5.15 5.95 5.1 5.95 25,286,200 140,221,240 2,236,701 0.315 0.32 0.335 0.335 0.315 0.315 6,570,000 2,108,500 112,500 ALLDAY ALLHOME 4.55 4.58 4.68 4.68 4.58 4.58 249,000 1,141,660 (1,068,160) METRO RETAIL 1.45 1.46 1.44 1.45 1.44 1.45 459,000 664,340 30.9 31 31.25 31.25 30.75 31 287,800 8,909,005 (3,911,390) PUREGOLD ROBINSONS RTL 46.8 47 46.25 47.35 46.2 47 440,200 20,567,485 (257,940) 49 50 50 50 48 49 2,941,910 146,969,835.5 1,927,690 PHIL SEVEN CORP SSI GROUP 1.2 1.21 1.2 1.23 1.18 1.2 1,943,000 2,323,780 1,501,600 WILCON DEPOT 23.1 23.2 23.85 23.85 23.2 23.2 699,300 16,352,130 (12,231,940) 0.2 0.203 0.201 0.201 0.201 0.201 1,200,000 241,200 APC GROUP EASYCALL 3.88 4.49 3.88 3.88 3.88 3.88 3,000 11,640 6.4 6.5 6.5 6.5 6 6.4 12,500 78,550 4,800 IPM HLDG MEDILINES 0.58 0.59 0.59 0.6 0.59 0.59 101,000 60,130 PRMIERE HORIZON 0.415 0.425 0.43 0.44 0.415 0.43 3,670,000 1,538,600 42,200 3.76 4 3.76 3.99 3.76 3.99 2,000 7,750 SBS PHIL CORP MINING & OIL ATOK 7.02 7.05 7 7.42 7 7.05 281,300 2,049,023 1.4 1.41 1.44 1.45 1.37 1.4 5,575,000 7,839,540 (3,616,090) APEX MINING ATLAS MINING 5.5 5.53 5.6 5.6 5.5 5.5 750,700 4,141,551 ( 962,865.9997) 6.36 6.5 6.45 6.69 6.35 6.45 48,600 313,698 BENGUET A BENGUET B 6.45 6.5 6.6 6.6 6.5 6.5 41,700 272,550 55,900 FERRONICKEL 2.29 2.31 2.3 2.31 2.26 2.31 1,107,000 2,534,160 ( 454,429.9998) 0.172 0.196 0.172 0.172 0.172 0.172 10,000 1,720 GEOGRACE LEPANTO A 0.133 0.135 0.135 0.14 0.134 0.135 5,770,000 774,700 0.134 0.14 0.135 0.135 0.134 0.134 1,050,000 141,620 LEPANTO B MANILA MINING A 0.0094 0.0097 0 0.0094 0.0094 0.0094 0.0094 10,000,000 94,000 MARCVENTURES 1.56 1.57 1.63 1.65 1.55 1.56 2,385,000 3,767,990 78,000 0.93 0.96 0.92 0.97 0.92 0.97 155,000 143,300 NIHAO NICKEL ASIA 6.58 6.59 6.6 6.65 6.52 6.58 773,800 5,100,306 1,197,098 0.69 0.72 0.7 0.7 0.68 0.7 431,000 294,950 ORNTL PENINSULA PX MINING 4 4.05 4.2 4.2 4 4 767,000 3,130,230 24,000 SEMIRARA MINING 35.7 35.75 35.1 35.8 35.1 35.7 2,229,000 79,368,125 10,733,275 0.0061 0.0065 0 0.0064 0.0065 0.0064 0.0065 7,000,000 45,400 UNITED PARAGON ACE ENEXOR 8.24 8.25 8 8.4 8 8.24 187,900 1,549,435 (792,985) 0.01 0.011 0.01 0.011 0.01 0.01 24,700,000 248,600 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.012 0.011 0.012 4,400,000 49,400 PHILODRILL 0.0085 0.0089 0 0.0084 0.0089 0.0084 0.0089 2,000,000 17,300 4.19 4.25 4.78 4.78 4.19 4.26 246,000 1,055,770 252,300 PXP ENERGY PREFFERED HOUSE PREF B 98.5 99.5 99.5 99.5 99.5 99.5 60 5,970 98.5 98.8 98.8 98.8 98.8 98.8 8,600 849,680 HOUSE PREF A ALCO PREF D 500 505 502 502 500 500 2,400 1,200,160 104.5 106 104.1 104.5 104.1 104.5 4,110 429,295 (272,745) BRN PREF A CEB PREF 42 42.9 42.5 42.5 42 42 2,400 101,800 CPG PREF A 100.6 101.5 101.5 101.5 101.5 101.5 260 26,390 98.5 99.5 99.5 99.5 99.5 99.5 60 5,970 DD PREF EEI PREF B 103.5 107 102.5 107 102.5 107 11,000 1,172,500 100.1 104.7 100.4 100.4 100.2 100.4 26,310 2,637,112 FGEN PREF G MWIDE PREF 2A 94 98.95 98.95 98.95 98.95 98.95 20 1,979 MWIDE PREF 4 97 99 97 99 97 99 140 13,680 99.5 101 100.5 100.5 100.5 100.5 40 4,020 PNX PREF 3B PNX PREF 4 975 980 976 976 975 975 210 204,860 9,760 1,046 1,051 1050 1,051 1,050 1,051 2,270 2,384,770 PCOR PREF 3A SMC PREF 2F 76.2 77 76.2 76.2 76.2 76.2 2,350 179,070 SMC PREF 2H 75 76.2 76.2 76.3 75 75 4,000 302,597 74 75.4 75 75.4 75 75.4 450 33,790 SMC PREF 2J SMC PREF 2K 72.25 74.95 72.2 75.5 72.2 75 52,960 3,958,702 54.5 57 54.5 57 54.5 57 5,620 306,615 (299,205) TECH PREF B2D PHIL. DEPOSITARY RECEIPTS

GMA HLDG PDR 11.22 11.66 11.22 11.24 11.22 11.24 71,000 797,600

WARRANTS TECH WARRANT 0.47 0.49 0.47 0.49 0.43 0.485 677,000

SMALL & MEDIUM ENTERPRISES

CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

0.89 0.98 0.75 2.25 1.26 0.29

0.9 1 0.76 2.9 1.27 0.315

0.91 0.99 0.76 2.97 1.2 0.29

0.91 1 0.76 2.97 1.35 0.3

0.89 0.97 0.75 2.9 1.2 0.285

0.9 1 0.75 2.9 1.26 0.29

992,000 92,000 86,000 2,000 1,975,000 1,140,000

320,870

(9,600)

893,120 90,700 64,980 5,870 2,512,980 331,400

14,100 -

EXHANGE TRADE FUNDS FIRST METRO ETF

96.8

97.5

97.65

96.8

24,600

(213,180)

2,392,616.5

467,869.5

www.businessmirror.com.ph

Entrepreneur

Coke, SB Corp. tie up opens credit line to MSMEs, SMEs By Rizal Raoul S. Reyes @brownindio Contributor

oca-Cola Beverages Philippines Inc. (CCBPI)—bottling arm of soda manufacturing giant Coca-Cola—recently signed up a partnership with the Department of Trade and Industry’s (DTI) Small Business Corporation (SB Corp.) for the RISE UP Tindahan Project to help the country’s micro, small and medium enterprises (MSME) expand their businesses. “We share the vision and commitment of the Small Business Corporation to uplift our retail partners as we make these sustainable financing initiatives more accessible to many. We are proud that, given CCBPI’s extensive footprint and expansive trade network, we’re in the best position to help in reaching more MSMEs across the country and contribute to truly inclusive economic growth,” CCBPI General Trade Director Chris Pesigan said in a recent webinar. Pesigan explained the program enables CCBPI’s partner retail stores, dealers, distributors, and other MSMEs access to resources that can contribute to their recovery from the effects of the Covid-19 pandemic. He noted the RISE UP Tindahan project upholds CCBPI’s “People First” commitment of looking after its people and the communities it serves, as project beneficiaries can enjoy greater accessibility to sustainable financial loan programs that can encourage job creation, livelihood initiatives, and business growth. Moreover, the collaboration with the SB Corp. signifies the collective, urgent goal of helping the MSME sector recover, stabilize, and progress. As an industry leader in manufacturing, Pesigan stressed that CCBPI sets the benchmark in the fast moving consumer goods (FMCG) sector in terms of distribution and trade network. Meanwhile, the partnership with SB Corp. and CCBPI’s established relationships with MSMEs, allows the RISE UP Tindahan Project to reach more Filipino households across the country. “We, at Small Business Corporation, are very much thankful for this opportunity to partner with the Coca-Cola Beverages Philippines Inc. as we reach out to more and more entrepreneurs down to the roots of our communities, not only here in the Metro, but also to the rest of the provinces. Reaching out to the far ends can be a daunting task, but since we have Coca-Cola now as our partner, with your seasoned experience on the ground, we are confident that this project will be successful,” Santiago Lim, EVP and COO of Small Business Corp. said. The loans sourced through the RISE UP Tindahan Project are designed to help businesses adjust to the realities of doing business in the new normal. Additional funds, for example, can help MSMEs cope with rising consumer demand as the economy slowly opens up again. SB Corp.’s initiative of going into the online application process has been a success, with around 40,000 applicants over the past two years. CCBPI is targeting the program’ broader reach by leveraging its vast trade network, and now SB Corp. is bridging gaps to meet the needs of micro-entrepreneurs. “The process in RISE UP Tindahan is simple, which is key to reaching more MSMEs,”Pesigan explained. “We need to overcome the challenge of inaccessibility, and part of this is making sure that procedures aren’t overly complicated—that MSMEs don’t feel intimidated or overwhelmed,” Pesigan pointed out. For the benefit of MSMEs, the process for applying for a loan has been made more convenient and easy through RISE UP Tindahan. Those interested in applying can easily do so through www. brs.sbcorp.ph, with call center hotlines at 8651-3333 (NCR) and 1-800-106513333 (nationwide). The RISE UP Tindahan Loan offers a loanable amount of up to P300,000 for micro-tindahan loans (sari-sari stores), and up to P 5 million for small and medium enterprises (SME) loans (retail stores, dealers, and distributors) with three years repayment term inclusive of a grace period of up to 12 months and no collateral required.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, June 22, 2022 B3

In Ukraine, entrepreneur’s e-bikes face off against Putin’s war machine

By Ira Boudway | Bloomberg News

hen Daniel Tonkopi founded Delfast in Kyiv, Ukraine, in 2014, he had no intention of building and selling electric bikes. He also never anticipated that his company would be caught up in a war with Russia or that his bikes would become military vehicles.

But at 43, Tonkopi, a native of Almaty, Kazakhstan, now finds himself living in Los Angeles, running an e-bike company and remotely managing dozens of employees living in a war zone. In May, Tonkopi made headlines when he shared images on Facebook of Ukrainian fighters using Delfast bikes to carry anti-tank weapons to the front, demonstrating yet another use case for electrified two-wheelers. “Our bikes are still working despite damages,” he told me on a video call earlier this month. Tonkopi moved to Ukraine from Kazakhstan in 2009. He’d been working for KazMunayGas, the state-owned oil and gas company, as a project manager building gas stations when he decided to head to Kyiv to try his hand as an entrepreneur. The vogue at the time was to build clones of successful US tech companies, so Tonkopi made a version of Yelp for Eastern Europe. It was, by his own admission, a flop, as were several attempts that came after. “I became an expert in all the possible mistakes and how to not make a start-up,” he says. Delfast began as a one-hour delivery company. (The name is short for “we deliver fast.”) Tonkopi wanted to use e-bikes for the service because they were cheap, quick, zero-emissions and didn’t require couriers to

pedal for hours on end. When he couldn’t find bikes with long enough battery life to work all day, he decided to try building his own. His Frankenstein creations turned heads. “We heard a lot of asks from random people. ‘Hey, are you selling these bikes?’” he says. So, in 2017, Delfast launched a crowdfunding campaign, raised $165,000 and sold 44 e-bikes. Over the next three years, Delfast functioned both as a courier company and an online e-bike shop. In 2020, a few days after Covid lockdowns began, Tonkopi sold the delivery business to a direct-to-consumer meat vendor in Ukraine. Delfast now sells a single e-bike model, the Top 3.0, via its website and a small network of independent bike shops. It has a top speed of 50 miles per hour, a range of up to 200 miles and a sticker price of $6,999. Last year, Delfast sold about 200 units, mostly to customers in the US. So far this year, says Tonkopi, sales are running at triple that pace. Last fall, after realizing that 80 percent of the company’s customers were in the US, Delfast opened an office in Whittier, California, outside Los Angeles, where Tonkopi and a few others work. The remaining 30 employees are still in Ukraine. Tonkopi spoke with Bloomberg about e-bikes as weapons, managing a start-up

Photo shows a biker pedaling one of the Delfast e-bike models built by a start-up company launched by Daniel Tonkopi, a Kazak who founded Delfast in Kyiv, Ukraine in 2014. Tonkopi’s e-bikes have been utilized by the Ukrainian military to carry anti-tank weapons against the invading Russian military. Photo grab from Daniel Tonkopi’s Facebook account

through war, and the Delfast product pipeline. The conversation has been edited for clarity and length. Q: You’ve got 30 or so people in Ukraine. How have you managed that workforce since the war began? A: Starting from February 24th, those were tough weeks, especially the first week, when we didn’t know what was happening and what to do. We had some financial reserves, enough for three months of salary for all our personnel, so we told everybody, ‘You don’t have to worry, and you will have your salary no matter what, at least for three months.’ And we provided some of them with support to relocate. We found some houses and apartments in safer places. For example, one woman used to live in Kherson, a city fully occupied by Russia. At one point, Russian police or military forces came to her house. They asked her to show them her smartphone, her laptop and so on. They found anti-Russian messages and memes in her phone. So they deleted all the information in her phone and said, ‘Okay, now your smartphone will have a new life. And

you will come to our police station tomorrow at 11 a.m. And you will have new life as well.’ That was really scary. She didn’t want to have any kind of new life with Russia. So one of our sales managers helped to find her a car in Kherson and to escape. She left to Odessa that night. Odessa is under attack as well. There is no safe place in Ukraine, but it’s relatively safer. Q: Are people now able to do their jobs? Yes. That was the first weeks. People are still sitting in bomb shelters. They live in their apartments or houses but when they hear air-raid sirens, they have to go into bomb shelters. It is constant bombing. Every Monday starts with a Zoom call with everyone, we ask them how they are, if they are safe, what’s going on, and then we move on to our usual business issues. What is crazy is that during the war, our engineers have developed a totally new product. They were tired of sitting in the basement and tired of being afraid, and they wanted to move their energy and inspiration into something new. And they created a new model for the US market, which we are going to unveil in the beginning of August. Q: Do you have a name for it? A: We do, but it is still under consideration. It has a smaller battery and lower speed than our Top bike. We will do our best to make it affordable so more people will be able to use it. Q: How did some of your e-bikes wind up in the war? When the war began, we decided that we are going to help the people of Ukraine and we are going to donate 5 percent of all our sales revenue as a company. And we’ve donated three e-bikes—two of our Top 3.0 bikes to Ukrainian military forces and one prototype to the volunteer division. They are using this prototype for their medical staff. Three bikes are what we had in our facilities at the beginning of the war. We deliver parts and semi-assembled bikes from

China to California. And we have our stock here in Los Angeles. We have just an R&D center in Ukraine. We didn’t have many spare parts in Kyiv. The military adjusted them. They made an additional rear trunk for holding rocket launchers. They say it works well. According to their feedback, our bike is maneuverable, it is quiet and it cannot be spotted by heat sensors. So they can come to a position, do whatever they need to do, and then immediately leave without being spotted. They have a tough situation. Russian troops are attacking our army. It’s hot. It’s really hot. Our Ukrainian soldiers, sometimes they come back wounded and with some damages on their cars and vehicles. Our bikes are still working despite damages. It operates well in the hottest conditions. Q: And you are also fundraising now? A: Yes, about a year ago, in the beginning of 2021, we did an equity crowdfunding round at fundable. com. People from Ukraine believed in our company. Three hundred of them invested. The average check was about $10,000. So we raised $3.4 million. That helped us to create our R&D center in Ukraine, to move our headquarters to California and to create a stock of bikes. We invested a lot into our supply chain, into logistics, and we decreased our lead-time from four months, one year ago, to two weeks today. Then we launched a Series A venture round at the beginning of this year. We paused at the end of February, but now I am back at it. The goal for the round is $20 million. We’ve received $2 million and right now I’m in negotiation for another $5 million. We have a product, we have a product plan, we have a platform, we have proprietary technologies, we have sales, and we are growing, even without outside investment. We need investment to make the growth faster. We are growing at 3x. We want to grow 20x. I’m building a multibillion-dollar company here.

Woman-led start-up firm offers to solve Fintech Tala promises to ‘bring light’ to borrowers’ credit needs construction woes with AI technology

AVAO CITY—A homegrown start-up wants to become the first local company to bring innovation to the construction industry with its artificial intelligence (Al)-driven construction management platform AIMHI (Artificial Intelligence Meets Human Intelligence). AIMHI is a landmark product of Eve on Top (Eve), a Tagum City-based women-led tech start-up. During Wednesday’s news briefer here, Eve co-founder Cherryann Lee Angoy said the technology addresses most construction woes and at the same time ensures a 10-percent profit increase in construction projects. “AIMHI is developed to mitigate the longstanding problems in the construction industry such as delayed projects, over budget, and falling below the target profit margins,” Angoy said. As chief executive officer of the construction firm SECKKA Empire Builders, Inc., Angoy said she has extensively explored the causes of most problems in the sector. She said contractors suffer profit losses and delay due to lack or poor cost management, planning, estimation, monitoring, and control, poor risk and resource management, and a host of other problems. “Project delay average is 20 percent to 30 percent while the average overrun is 28 percent,” she said. She added: “For a 10-million project with an end date of 9 months, an additional P3 million in unnecessary cost will be incurred due to delay and P2.8 million in overrun.” She noted that the Philippine construction industry is expected to record a 14.4 percent compound annual growth rate (CAGR) reaching P871.1 billion by 2024. In 2018, the growth rate of the construction industry in the Philippines was about 15.9 percent and the gross domestic product (GDP)

share of the construction industry to the total GDP was 6.8 percent. In the same year, the number of Filipinos in construction rose to 4.02 million compared to 3.55 million the previous year. Despite its promising contribution, she said it is still an industry with a low-profit margin that continues to plummet, not to mention the number of Filipino workers relying on it. “Construction is among the largest sector in the world economy, spending about $10 trillion on construction-related goods and services yearly. But in the past 20 years, we have only seen a 1-percent increase in productivity,” she said. Making things worse, she said the shortage in skilled workers is causing construction projects an additional 10 percent to 15 percent loss. Eve said AIMHI is more than just a schedule organizer, cost tracker, or inventory manager. “It enables its cost footprint capability that aids in cost planning, monitoring, and controlling. Meaning, our data-driven platform uses real-time and historical data to learn project inefficiencies, manpower productivity footprint, and overall cost behavior,” she said. With AIMHI, she said users can upload project estimates, track actual spending versus budget, track manpower and equipment allocation, project schedule, proactive suggested tasks, an overall dashboard for a progress report, timeline, overall budget, and project ranking. She said the platform is easy to use and provides clear information because it uses construction management principles and reliable workflows. The platform, which was launched online on Wednesday, June 21, via their Facebook page AIMHI by Eve, will cost each user only P1,014.51 or $19 per month. PNA

By Roderick L. Abad

@rodrik_28

Contributor

ALA, a digital lender that offers quick loan services to consumers and small business (SB) owners, has appointed its new general manager (GM), Donald Evangelista, whose experience in data-driven innovation, business strategy and digital transformation will help realize the company’s mission of bringing financial freedom and inclusivity to more Filipinos, specifically the underbanked. For over seven years of operating in Kenya, India, Mexico and the Philippines, the company has provided loans to more than 6 million people worldwide with over $2.7 billion in credit. Individual borrowers and even small-scale enterprises that have access to an android phone can avail of its fast and affordable microcredit offerings sans the burden of significant and unattainable repayment terms. Tala’s trailblazing use of alternative data, which recognizes the creditworthiness of a borrower has led to a 90 percent plus global repayment rate. The global fintech platform’s 95 percent repeat customer rate is a show of trust of customers who value their relationship beyond the first loan. With his expertise in data science, customer intelligence, information management, and big data, Evangelista possesses the right knowledge to tap and expand Tala’s clients, particularly the 1.8-million Filipino individual and enterprise borrowers who have been using its accessible, safe, and flexible financing services. As its GM, he revealed the firm’s future plans for expansion that includes leveraging on blockchain and crypto to provide the back-

EVANGELISTA

bone of their infrastructure that can further elevate their mission of financial inclusion. “We foresee this as an enabler for Tala to provide more financial services to our existing customers at lower fees with higher returns for them. We’re taking the expertise we’ve built through the years to offer more products and services to more underbanked customers in our current and future markets,” he said. Likewise, he takes on the responsibility to fulfill their mission to empower the financially underserved using proprietary technologies and machine learning algorithms that promote responsible borrowing while avoiding over-indebtedness by enabling financial literacy. “Tala is revolutionizing the lending space by putting more power in the customer’s hands, while building a holistic financial ecosystem for the underserved communities,” Evangelista stressed.

Banking&Finance BusinessMirror

Wednesday, June 22, 2022 • Editor: Dennis D. Estopace

www.businessmirror.com.ph

Weak peso to hike ODA-funded project costs

By Cai U. Ordinario

@caiordinario

HE recent depreciation of the Philippine peso may increase the cost of infrastructure projects, particularly those financed by dollar-denominated Official Development Assistance (ODA), according to economists. On Monday, the Philippine peso depreciated against the US dollar to P54 to the greenback. This is a 4-year low since the last time the peso breached the P54 territory was in October 2018. (See story: “Peso falls to P54 to dollar, its weakest level in 4 years,” in the BusinessMirror, 21 June 2022. In an e-mail to the BusinessMirror, Ibon Foundation Inc. Executive Director Sonny Africa said the peso is on track to “settle at its lowest level

against the US dollar in 17 years or since 2005.” The latest four-year low is just the latest development in this regard, Africa added. The more expensive dollar will impact ODA projects through the price of imported materials as well as dollar-denominated debts, according to the University of the Philippines’s Renato E. Reside Jr. “(The effect will be) immediate but (it) may not be too salient yet

as we are not dealing with a devaluation here, which is a discrete change in the exchange rate,” Reside, director for research at the UP School of Economics, told the BusinessMirror. “What we have is a depreciation, which is a small change in the rate.” Nonetheless, “we still do have a significant amount of foreign reserves to absorb this,” he added.

Yen, peso

ACCORDING to Victor A. Abola, economist at the University of Asia and the Pacific (UA&P), a number of ODA projects propelled by yendenominated loans may be spared from price hikes. This may be significant as the Japanese government remains the country’s top source of ODA funding. In 2020, Japan accounted for 36.44 percent or $11.18 billion of the country’s ODA loans and grants. “ODA funded by Japan (mostly, anyway) will actually have no effect, since the yen has depreciated much

more than the peso,” Abola said. “As it stands, we will still benefit. This benefit will offset some of the dollardenominated loans.” Still, Ateneo Eagle Watch Senior Fellow Leonardo A. Lanzona Jr. told the BusinessMirror that the depreciation of the peso will lead to higher costs.” NEDA Undersecretary Roderick M. Planta, however, said the Investment Coordination Committee (ICC) has a mechanism to address the increase in costs.

Price contingency

Planta, officer-in-charge at the National Economic and Development Authority (Neda), told the BusinessMirror that adjustments in foreign exchange (forex) involving projects are already lumped under “price contingency.” This is common practice for multiyear projects and allows implementing agencies some flexibility in the financing of projects, he explained. “Meaning, posibleng mataas ang forex losses mo ngayong taon pero variable naman for the project life

(at) baka pasok pa din sa estimate ng agency,” Planta said. [This means it is possible for you to experience forex losses this year but these could be variable for the duration of the project’s life making your whole project estimate still viable] In case forex losses are significant, such as more than a 10-percent increase in project cost, these projects will have to return to the ICC and go through re-evaluation until it secures another approval from the Neda Board. If there is an increase in total project cost by 10 percent and below, but the cost remains equal or is now more than the ICC-Neda Board cost floor for review, the implementing agency must still secure Neda Board approval. These guidelines were part of a memorandum issued in September 2016 which revised the ICC Guidelines and procedures concerning changes in project scope and cost.

Debt pressures

IN 2020, Neda documents stated that cost overruns led to an increase

in cost for projects of $5.86 billion, representing an increase of 17.38 percent. The revised ODA project costs as of 2020 reached $39.74 billion from the initial estimate of $33.86 billion based on the ICC’s initial approval. But as the local tender’s strength is sapped, Africa said it may be worth considering stopping projects that would no longer be viable given the forex adjustments. He added this would free up much needed resources for “social needs as well as relieve deficit and debt pressures.” “Particular attention should be given to the most import-intensive projects such as railways where it is likely that half or up to two-thirds or more of project costs are on imported materials, equipment, machinery and contractors,” Africa said. “Despite employment hype, perhaps just 5 percent to 10 percent at most is spent on unskilled labor.” Lanzona told the BusinessMirror that higher costs require “even more financial consolidation and tax collections.”

Sell in a market downturn? T-bonds coupon rate 30.6bps higher than benchmark

ITH global markets in turmoil, it is safe to characterize events as a downturn both in listed equities and in the bond markets. Since the start of this year, listed equities in the major US markets Dow, S&P 500 and Nasdaq have gone down by as much as over 30 percent! Even our battered PSEi has gone down more than 10 percent since the start of the year. The bond markets have, likewise, taken a major hit. When interest rates rise, the market value of the bonds goes down. This is because when interest rates go up, bonds in the secondary market need to keep up with the current yields and, therefore, are sold at a discount over face value to provide the additional interest-rate difference over the coupon. Even during the height of Covid-19, things never got this bad. Going into a bear market just as we are recovering from the global pandemic is not the best thing that can happen to most investors. Fear and uncertainty can lead many people into a panic selling mode. Is this the most rational thing you can do? If you had sold out and liquidated your portfolio just as the market was heading south at the early part of this year, it might be best to stay out of the market for now. However, if you are still on board, you may want to reconsider your options. If you are holding on to short-term bonds, which are currently being sold at a large discount over face value, perhaps it is best not to sell and just wait for the bonds to mature. This is because when they mature and are redeemed, you still get the full face value of the bond without having to take a loss by selling at a discount. Sure you may have an opportunity cost by having a lower coupon yield until the bond maturity. But will that be enough to make up for selling your bonds at a discount? The equities markets are somewhat a different animal from bonds. There is no specific maturity date or interest yields in equities. Even dividends are not the primary source of yield for equities, it is capital gains in the form of increasing share prices. You may want to rethink your initial

By Bernadette D. Nicolas @BNicolasBM

Finex free enterprise George S. Chua reaction to cut loss and sell in a market downturn, for a number or reasons. First is that downturns are temporary and if the company is a good one, its share price will recover. Of course there are exceptions in expecting an upturn, such as when the company goes bankrupt or, in the case of certain cryptocurrencies that have intrinsically no value, posts losses. The second reason not to sell is that it is not possible to time the market. Imagine selling today and the market starts to recover the following day. Of course, it is possible that the market just keeps on dropping. If your intention is to sell now and buy back when it hits the low, no one can predict that; so you can just get whipsawed. And you have to remember there are friction costs involved such as trading fees and taxes. Finally, although I am sure there are other reasons, staying in the equities market over very long periods of time, like several decades, has always paid off, provided you know how to diversify and choose solid companies. Any downturn can be viewed as a momentary aberration. Having said all that, you have to remember that ultimately, only you can fully understand your investment needs and financial situation. Of course, you always have the option of asking for a second opinion, but I would suggest that you choose wisely who to get advice from. How did you expect someone who has no money tell you how to make money?

George S. Chua, president of the Financial Executives Institute of the Philippines (Finex) in 2016, is currently a professorial lecturer at the University of the Philippines and an active entrepreneur. Chua’s views and comments are his own and not of the BusinessMirror or Finex. Comments may be sent to gschua@up.edu.ph.

GSIS earmarks P272M in emergency loan for Davao de Oro members, pensioners

HE Government Service Insurance System (GSIS) set aside close to P272 million in emergency loan for members and pensioners who were affected by massive flooding due to heavy rains in the province of Davao de Oro in April. The state pension fund said in a statement it is accepting applications until July 5.

Expected to benefit from the loan are 12,325 active members and 1,257 old-age and disability pensioners. Active members must be working or residing in the calamity-declared area. To qualify for the program, they must not be on leave of absence without pay, have no pending administrative case or criminal charge, have at least three monthly premium payments within

the last six months prior to application; and have a net take-home pay not lower than the amount required under the General Appropriations Act after all monthly obligations have been deducted. Members who have emergency loans that have been unpaid for six months or less (in arrears) or more than six months (already due and demandable) may apply for emergency loan renewal. Meanwhile, old-age and disability pensioners may avail of the loan as long as they reside in the calamity area and their net monthly pension after loan availment is at least 25 percent of their basic monthly pension. Pensioners who are also active members may apply for the loan only once.

HE Bureau of the Treasury raised P34.9 billion last Tuesday after partially awarding the new 10-year Treasury bonds (T-bonds) as investors continue to seek higher yields. The security fetched a coupon rate of 7.25 percent, which was 30.6 basis points (bps) higher than the comparable secondary market benchmark rate of 6.944 percent. “Saw strong volume despite long maturity but at a steep price,” National Treasurer Rosalia V. De Leon said. “Market provided cushion against back-to-back rate increases to be

delivered by both [US] Fed [Federal Reserve] and BSP [Bangko Sentral ng Pilipinas] in the next policy meetings to slay [the] ugly head of inflation.” Last week, the US Federal Reserve raised the benchmark interest rate by 75 bps—its biggest hike since 1994. Fed Chairman Jerome Powell has been quoted as saying they may also increase the rate by another 50bps or 75bps in their meeting next month. Incoming BSP Governor Felipe M. Medalla has said the central bank is likely to raise the key borrowing rate by another 25 bps on Thursday and another 25bps in August to temper inflation. Inflation soared to 5.4 percent in May, the highest since November

DOF backs IC order vs mutual benefit group

HE Department of Finance (DOF) announced it has affirmed the Insurance Commission’s (IC) decision to order Bureau of Fire Protection Mutual Aid and Beneficiary Association (BFPMBAI) to immediately cease and desist from operating as a mutual benefit association (MBA) without a license from the regulator. In a decision dated May 24 this year, Finance Secretary Carlos G. Dominguez upheld Insurance Commissioner Dennis B. Funa’s ruling in 2017 declaring BFPMBAI’s operations illegal after the Fire Service Mutual Benefit Association Inc. (FSMBAI) filed an administrative case against the BFPMBAI. Aside from the CDO, the IC also ordered the BFMBAI to pay P200,000 as fine for operating as an MBA sans a license from the IC. The BFPMBAI filed an appeal to the Department of Finance, the IC’s parent agency, regarding the latter’s decision. In the administrative case filed before the IC, the BFPMBAI argued it wasn’t operating as an MBA but as a mutual aid and beneficiary association organized under Section 30 (c) of the National Internal Revenue Code (“NIRC”). The BFPMBAI also denied it provides insurance benefits, citing its members are covered by policies issued by a private insurer. In its appeal to the DOF, the BFPMBAI said the IC doesn’t have jurisdiction over the group. The BFPMBAI added it was denied due process of law and that the IC’s CDO and fine is incorrect. It also stressed that FSMBAI could not validly file an action against them for being under conservatorship at the time. However, the DOF said “records show that the BFPMBAI complied with all the requisites to be considered as a mutual benefit association as stated in Section 430 of the Insurance Code,” thereby affirming the

IC’s findings of illegal business operations. The DOF also affirmed the IC’s statutory power to issue the CDO and to impose fines. It also ruled that IC had jurisdiction over the instant case since it is the “sole government agency mandated to ensure the faithful execution and enforcement of the provisions of the Insurance Code as well as the efficient regulation of the insurance industry.” Dominguez also held that the IC afforded BFPMBAI due process as it was “given the opportunity to be heard when BFPMBAI attended the pre-trial conference, hearings and filed its pleadings” in the administrative case decided by the IC in 2017. Further, he also held that any procedural defect that occurred in the proceedings was subsequently cured by BFPMBAI’s filing of a motion for reconsideration and its appeal to the DOF, pursuant to a Supreme Court ruling. In the same decision, the DOF also agreed with IC’s finding that FSMBAI had the juridical personality to institute the administrative case against BFPMBAI, as it had the statutory power under the Corporation Code to sue under its own name as a private corporation that had an existing Certificate of Incorporation issued by the Securities and Exchange Commission. “As mentioned by the Honorable Secretary in his Decision dated 24 May 2022, the IC takes to heart its duty to ensure the faithful execution and enforcement of the provisions of the Insurance Code,” Funa said. He added that the IC “very much appreciates the DOF’s acknowledgment and affirmation in its decision of our mandate to safeguard the rights and interests of the insuring public against the deleterious effects of unsanctioned and unsupervised activities of unregistered entities.” Bernadette D. Nicolas

2018 when inflation reached 6.1 percent. Based on Philippine Statistics Authority data, the higher inflation was caused by price surges in food, transportation and sin products. Had the auction committee fully awarded the P35-billion offering, the coupon rate for the security would have reached 7.375 percent. Total bids for the debt papers hit P67.3 billion, making the auction almost twice oversubscribed. For this month, the Treasury is set to borrow P250 billion from the domestic debt market, of which P175 billion is expected to come from auctioning off Treasury Bonds and another P75 billion through it sale of T-bills.

Since the start of June, the Treasury has raised P137.4 billion out of its P200 billion offering. As of end-April, the national government’s outstanding debt hit another record-high at P12.76 trillion, just two months before President Duterte steps down from office. The national government’s debtto-GDP ratio as of the first quarter of the year rose to a 17-year-high at 63.5 percent, above the internationally-recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines. It is also the highest since the country’s debt-to-GDP ratio hit 65.7 percent in 2005 under the Arroyo administration.

Sen. Poe pushes for bill suspending oil excise tax By Butch Fernandez @butchfBM

ENATOR Grace Poe is poised to push the timely passage of remedial legislation in re-filing a bill to temporarily suspend oil excise tax in order to provide respite for overtaxed people. In a statement, the senator affirmed her determination in refiling her bill to cushion the blow of fuel-price surges on the Filipino people. Poe’s bill intends to amend Section 148 of the National Internal Revenue Code to provide for the automatic suspension of the excise tax on regular gasoline, unleaded premium gasoline and diesel when the average Dubai crude oil based on Mean of Platts Singapore for three months prior to the scheduled increase of the month reaches or exceeds $80 per barrel. In prodding the Duterte government to suspend impending oil excise tax hikes, the senator anticipates “this will bring instant relief to the public as it will lower the prices of fuel products, resulting in the reduction of costs of goods and services.” The senator added that an oil tax reprieve will also “provide a crucial lifeline to our people in daily survival mode.” Poe pointed out that “the revenues the government will generate from the excise tax to fund cash aid might come too late for families who have nothing to eat now.” She reminded Malacañan that: “As the saying points out: ‘Aanhin pa ang damo, kung patay na ang kabayo?’” Signaling she was not giving up, Poe affirmed the enabling bill will be among the pieces of legislation that she will file as soon as Congress convenes in July.

She stressed that local taxes add substantial costs to the already high prices of fuel in the world market. Pursuant to the Tax Reform for Acceleration and Inclusion (Train) law, the excise tax on regular and unleaded premium gasoline is currently set at P10 per liter of volume capacity. The excise tax on diesel is pegged at P6 per liter. A value-added tax of 12 percent is also imposed on the sale of gasoline and diesel. The Senator reminded that suspension of the excise tax will immediately bring down costs by P10 per liter for gasoline and P6 per liter for diesel. The authority granted under the Train law to suspend the collection of excise tax was transitory and covered only the years 2018 to 2020. At the same time, oil companies announced another round of increase effective June 21, 2022, which could bring local fuel prices to P100 per liter. “If the government is willing to spend billions in cash assistance to targeted beneficiaries, then it should also be ready to forego a portion of its revenues during the most critical times in order to save millions of lives,” Poe pointed out. “We hope that this call on excise tax suspension, which is becoming louder by the day, will merit serious consideration from the incoming administration,” the senator added. To help ease the impact of oil prices, Poe earlier prodded the Duterte government agencies to effectively implement a Civil Service Commission resolution allowing a flexible work arrangement for government employees without sacrificing prompt and quality public service.

www.businessmirror.com.ph

Image BusinessMirror

Editor: Gerard S. Ramos

• Wednesday, June 22, 2022

NOURISHING FILIPINOS— AND THE PLANET

PHOTO BY JASON GOODMAN ON UNSPLASH

Booting bootlickers B

EING a people manager entails not just overseeing a group of people but also dealing with different employee personalities and tendencies. One tendency your team members have, whether they are aware of it or not, is to try to impress you with things other than doing their work well, like complimenting your outfit or agreeing with your ideas all the time. This is more frequent for new members of the team who are still trying to understand what kind of leader you are and what will impress you. While it may feel good for you, encouraging sycophantic behavior will effectively silence creative thinking and reasoning because your team will only wait on you to decide and follow what you want instead of looking for better ways of doing things. You also run the risk of other team members ostracizing the bootlicker for their behavior, and frown on you for rewarding such ingratiation more than productivity or efficiency. Your reaction to bootlickers will spell the difference between a group that says yes to you all the time and one that critically thinks what is best for the team and each other. If you want your team to do their best as a unit, you need to stop encouraging bootlicking behavior. There are several ways to spot a bootlicker. One is their change of behavior when other managers, or others in higher position, are around. They fawn and pretend to be subservient when their manager is around, but otherwise they would ignore everyone else. These are the ones who always follow their manager wherever they can, or focus on their

manager all the time rather than be with their peers. They rarely challenge their manager or present an opposing view, and would do everything they can to please their manager. Sometimes, these are the people who know something that would affect the team but would rather tell it to their manager first before anyone else. If you want to discourage bootlicking, start by looking in the mirror. How you react to your own managers and how you handle their requests will show your team how they should also react and how to behave when asked by upper management. People managers directly influence the culture of their team by their own actions and how they respond to other departments in the organization. If you want your team to be recognized on their own merit and performance, you need to start with yourself and be recognized because of your own merit and performance. To discourage a brown-noser, deliberately ignore them. The problem with brown-nosers is that they suck up because they either cannot do the work properly, or they are manipulating you in their favor. This takes a lot of self-control for them to fawn and keep you in their good graces. The danger in entertaining suck-ups and encouraging such behavior is that sooner or later, they cannot keep up appearances and would eventually end up either turning in substandard work, or being a nuisance to other team members. Evaluate and praise your team based on their performance as agreed in their individual performance scorecard rather than on how they flatter you. Set clear expectations and performance metrics so your team can focus on achieving those more than finding ways to flatter you. Thus, even if they do find things to compliment about you, or they say something gratifying, you can thank them, sure, but you must be as objective as you can during performance evaluations. I know that as human beings we cannot be totally objective but clear performance measures and expectations can help you reduce subjectivity and bias. When performance measures are clear, your team can focus on

deliverables more than flattering you. There are cases when sycophantic behavior goes so far as to malign other people in their desire to be recognized and be the boss’ confidante. I know of a manager who has insinuated himself so much in management that he has alienated all the effective and productive employees in his team that all of them left. They now have new members who do not know the office processes, and no one to teach them because the bootlicker has gotten rid of all the senior managers. Now, they are having difficulties rebuilding their team and the bootlicker’s meddling has extended to other teams who have started losing their members too. I understand that leaders need to trust their managers, but you still need discernment in who you listen to. When an entire group loses their senior managers, that should be your cue to step in. If the bootlicking persists, talk to them in private and discover what is causing the behavior. Some are doing it because that is the only way they know how to be liked by others, and they are not just fawning over you but others as well. In this case, you need to discuss with them how it is making you and others feel. Others flatter their managers in an attempt to hide their lack of skill and incompetence. Then, you need to send them to train or find someone to mentor them while they do their work. Some use flattery as a means of pushing themselves up so they will be noticed by management. When this happens, strengthen your performance management system so your team understands when they can be promoted. When you know why your team resorts to bootlicking, you can address their concerns properly and lessen the need to flatter you. Your team resorts to flattery when they think it can help their cause, and when they think you are susceptible to it. A good people manager focuses on empowering their team to make their own decisions by providing principle-based guidance and supporting their team’s decisions. Flattery might sound good for a while but when left unchecked, it can develop further into a difficult problem. As their leader, it is your role to stop bootlicking behavior if you want your team to grow. n

Social stress can speed up immune system aging By Eric Klopack University of Southern California AS people age, their immune systems naturally begin to decline. This aging of the immune system, called immunosenescence, may be an important part of such age-related health problems as cancer and cardiovascular disease, as well as older people’s less effective response to vaccines. But not all immune systems age at the same rate. In our recently published study, my colleagues and I found that social stress is associated with signs of accelerated immune system aging. n STRESS AND IMMUNOSENESCENCE: To better understand why people with the same chronological age can have different immunological ages, my colleagues and I looked at data from the Health and Retirement Study (HRS), a large, nationally representative survey of US adults over age 50. HRS researchers ask participants about different kinds of stressors they have experienced, including stressful life events, such as job loss; discrimination, such as being treated unfairly or being denied care; major lifetime trauma, such as a family member’s having a life-threatening illness; and chronic stress, such as financial strain. Recently, HRS researchers have also started collecting blood from a sample of participants, counting the number of different types of immune cells present, including white blood cells. These cells play a central role in immune responses to viruses,

bacteria and other invaders. This is the first time such detailed information about immune cells has been collected in a large national survey. By analyzing the data from 5,744 HRS participants who both provided blood and answered survey questions about stress, my research team and I found that people who experienced more stress had a lower proportion of “naive” T cells—fresh cells needed to take on new invaders the immune system hasn’t encountered before. They also have a larger proportion of “late differentiated” T cells—older cells that have exhausted their ability to fight invaders and instead produce proteins that can increase harmful inflammation. People with low proportions of newer T cells and high proportions of older T cells have a more aged immune system. After we controlled for poor diet and low exercise, however, the connection between stress and accelerated immune aging wasn’t as strong. This suggests that improving these health behaviors might help offset the hazards associated with stress. Similarly, after we accounted for potential exposure to cytomegalovirus—a common, usually asymptomatic virus known to accelerate immune aging—the link between stress and immune cell aging was reduced. While CMV normally stays dormant in the body, researchers have found that stress can cause CMV to flare up and force the immune system to commit more resources to control the reactivated virus. Sustained infection control can use up naive

T cell supplies and result in more exhausted T cells that circulate throughout the body and cause chronic inflammation, an important contributor to agerelated disease. n UNDERSTANDING IMMUNE AGING: Our study helps clarify the association between social stress and faster immune aging. It also highlights potential ways to slow down immune aging, such as changing how people cope with stress and improving lifestyle behaviors like diet, smoking and exercise. Developing effective cytomegalovirus vaccines may also help alleviate immune system aging. It is important to note, however, that epidemiological studies cannot completely establish cause and effect. More research is needed to confirm whether stress reduction or lifestyle changes will lead to improvements in immune aging, and to better understand how stress and latent pathogens like cytomegalovirus interact to cause illness and death. We are currently using additional data from the Health and Retirement Study to examine how these and other factors like childhood adversity affect immune aging over time. Less aged immune systems are better able to fight infections and generate protective immunity from vaccines. Immunosenescence may help explain why people are likely to have more severe cases of Covid-19 and a weaker response to vaccines as they age. Understanding what influences immune aging may help researchers better address age-related disparities in health and illness. THE CONVERSATION

IN the past few years, Filipinos have been recalibrating their lifestyle choices, as they have become better informed about how their preferences impact not only their personal health but also, and equally important, the health of the planet. It’s no surprise that more and more are switching to a more plant-based lifestyle, seeking brands that support their new, compassionate way of living. Sekaya (www.sekaya.com.ph), the Filipino plant-based brand under Synnovate, the naturals division of Unilab, has been one of first to acknowledge and address this lifestyle shift, as it aims to educate, offer products that fuses tradition and science, and support and give back to nature. n KNOWING MORE LEADS TO SMARTER, SAFER CHOICES. The growing awareness on the benefits of a plant-based lifestyle has also driven a proliferation of products that claim to support this. However, not everything labeled “natural” is developed in tandem with the discipline of science, resulting in sub-standard products that may be ineffective, or, worse, harmful to consumers. When it comes to its offerings, Sekaya is guided by its “Prescribing Nature” philosophy. The brand believes that Filipinos deserve nothing less than high-quality natural products that comply with pharmaceutical standards to ensure their efficacy, safety and purity. n SUPPORTING HEALTH GOALS AND DAILY WELLNESS. The brand’s roster of natural, high-quality plant-based products is created to fit easily and seamlessly into our everyday routines. Sekaya Botanic Infusion, for example, is a line of botanical blends in teabag and loose-leaf formats that help with certain health concerns like boosting immunity and getting better sleep naturally with ingredients that are certified organic by the United States Department of Agriculture. Sekaya Organic Moringa, meanwhile, is the only 100 percent locally sourced 500mg moringa supplement in the Philippines certified organic by the European Union (EU). There’s also Sekaya Raw Actives, a curated line of nutrientdense, ready-to-mix superfood powders that can support our daily nutrition requirements and fitness goals. n LOCAL IS GLOBALLY COMPETITIVE. The brand has also proven that our homegrown humble malunggay can be globally competitive with Sekaya Organic Moringa. The brand sources 100 percent of its moringa from local farms under the Moringaling Philippines Foundation, an organization involved in the development, research, and product standardization of moringa. These local moringa farms have been certified organic by the EU, having fulfilled strict conditions and passed international standards. Working with the foundation and farmers not only allows Sekaya to assure consumers of the quality and safety of its product—being the only 500 mg EUcertified organic moringa supplement in the market—but also highlight the capability of our very own moringa farmers. n STEPS TO SUSTAINABILITY. The brand is also dedicated to finding ways to present its products in eco-friendly and sustainable materials. For instance, the Botanic Infusion teabags are made of plant-derived materials that are biodegradable. Since they’re plant-derived and biodegradable unlike other packaging, the teabags can be thrown into a compost pit along with other food waste, which means they won’t add to the growing plastic waste problem. These plant-based materials are also non-toxic, which is especially important as some teas and botanical infusions are placed inside bags that may leach chemicals and microplastics into the drink. n GIVING BACK TO NATURE. As a major part of the brand’s nature conservation advocacy, Sekaya has partnered with the Cordillera Conservation Trust. For the last two years, the brand has been donating endemic tree seedlings to the organization, which is made possible by everyone who has purchased the Prescribing Nature gift packs. With the brand committing to match the number of gift packs sold, it’s able to secure 8,336 Philippine endemic tree seedlings for the region. Earlier this year, the brand also worked with Waves For Water Philippines, an organization that provides aid and clean water solutions to communities in need. Sekaya took part in the fundraiser Race 4 Water, which was a month-long virtual ride and run experience to raise awareness on clean water access inequality while providing Raw Actives Pea Protein and Powerbeet to improve the performance of the race participants. All 311 participants logged a total of 30,187 km, pledging an equivalent of 30,187 liters of water. As of April 29, 25,200 liters have already been made accessible in La Union, Dinagat Islands, and Iloilo. Sekaya understands that harnessing nature’s lifenurturing gifts should also mean protecting and preserving it for the future. By offering plant-based products that also give back to nature, the brand hopes to nourish Filipinos and encourage them to take the necessary steps to help the planet.

B6 Wednesday, June 22, 2022

Radenta offers Microsoft Teams Essentials for small businesses at half price until June 30

Security Bank Foundation opens scholarship program for AY 2022-2023

ECURITY Bank Foundation, the Corporate Social Responsibility (CSR) arm of Security Bank Corporation, is currently accepting scholarship applications for Academic Year 2022-2023 under the Scholars for Better Communities Scholarship Program. The Scholars for Better Communities program provides educational assistance to underprivileged and deserving students enrolled in eight partner schools in Metro Manila: Ateneo de Manila University, Chiang Kai Shek College, De La Salle University-Manila, Far Eastern University-Manila, Pamantasan ng Lungsod ng Maynila, Polytechnic University of the Philippines, University of the Philippines-Diliman, and University of Santo Tomas. Open for incoming first-year college students until July 15, 2022, the program is looking for aspiring scholars who will enroll in courses directly supporting bank operations such as Accountancy, Accounting Information System or Technology, Internal Auditing, Marketing, Financial Management, Industrial Engineering, Management

Engineering, Applied Mathematics, Business Analytics or statistics, Data Science, Computer Science or Technology, Information Systems or Technology. “The Scholars for Better Communities Scholarship Program aims to help deserving students become productive citizens of the country. By giving them the gift of education, we hope that they will build a better future for themselves, their families, and their communities,” said Rafael Simpao, Jr., Chairman of Security Bank Foundation. SBFI supports more than 400 scholars

yearly through the Scholars for Better Communities Program. Foundation scholars include employees, agency personnel and their dependents, as well as deserving students in external partner schools, bringing the total students sponsored as Security Bank scholars to 1,140 across various levels since program inception in 1993. To know more about the scholarship program and how to apply, go to https:// www.securitybank.com/sustainability/ external-scholarship-program/

Cetaphil launches innovative skincare line products to achieve radiantly healthy post-quarantine skin

MISS UNIVERSE 2018 CATRIONA GRAY WITH GALDERMA CETAPHIL OFFICERS, FROM LEFT: Tammy Au, Jade Ponoc, Choo Hon Keong, , Sandeep Kirpalani, Raghu Sadashiva, Luke Lee.

ETAPHIL Philippines, in partnership with premium multi-brand beauty destination, Look At Me, recently held an exclusive talk to help people learn proven-effective tips and tricks to look better and feel better. Dubbed Bright, Radiant, and Always Ready, it featured personal lessons from Miss Universe 2018, Cetaphil Bright Healthy Radiance ambassador Catriona Gray, and Dr. Irene Gaile Vitas- Robredo of the Philippine Dermatological Society. A seasoned board-certified dermatologist specializing in advanced cosmetic dermatology, Dr. Vitas shares that prepping your skin for an event does not happen on the day itself. “It starts with a skincare routine consisting of products with ingredients that suit your skin’s needs and target your

skin concerns. I recommend using a creamy cleanser that effectively cleanses without stripping the skin off its natural lipids, followed by those that address skin issues. For instance, Niacinamide and Sea Daffodil combination are very effective and gentle against unwanted pigmentation. This can brighten the skin, even out your skin tone, and improve the appearance of dark marks while keeping the integrity of your skin barrier intact—in other words, effective brightening effects that are suitable even for people with sensitive skin.” Following Dr. Vitas’ talk, Catriona Gray shared her radiance routine. She gave personal tips on how people can feel more confident, especially during photo-taking sessions. The event also served as the formal launch of the whole Cetaphil Bright

Healthy Radiance line at The Look. Cetaphil Bright Healthy Radiance is an innovative skincare line that answers the need for a healthy and gentle skin brightening solution. Recommended by most Dermatologists, its patented GentleBright technology is clinically proven effective in addressing dark marks caused by acne, melasma, and postinflammatory pigmentation. All of the products in this line work synergistically to give the skin a healthy brightness boost and even out skin tone. A complete skincare line for the face and body, products include Brightness Reveal Creamy Cleanser, Brightness Refresh Toner, Brightening Day Protection Cream SPF 15, Brightening Night Comfort Cream, Brightness Reveal Body Wash, Brightness Reveal Bar, and Brightening Lotion. Cetaphil is giving away a free Brightening Day Protection Cream SPF 15 (worth P1,038) for every minimum purchase of P1,000 worth of Cetaphil products at The Look. In addition, every purchase of any Cetaphil product also entitles customers to a free Bright Healthy Radiance Day-night sampler pack. This promo runs July 15, 2022, per DOH-FDA CCHUHSRR Permit No. 0318 s. 2022. For more information, visit www.cetaphil.com.ph. Follow @ cetaphilbrighthealthyradiance on Instagram for updates.

CSR Expo 2022 builds collaborations for resilient future

HE Philippines remains among the countries that are most vulnerable to the effects of climate change. This is according to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC) released in August 2021. As a response, corporations continue to design Corporate Social Responsibility (CSR) initiatives and programs that aim to mitigate the adverse effects of global warming and climate change in the country. To forge collaborations and help corporations and various sectors to better strategize their CSR efforts, the League of Corporate Foundations (LCF) is set to hold the 20th CSR Conference and Expo with the theme, “Creating the Future We Need: Striking a Path During a Period of Transition.” The expo will be held virtually from July 4 to 7, while its closing ceremony will be a face-to-face event that will happen on the afternoon of July 7 at the Blue Leaf Events Pavilion. LCF has invited Helle Bank Jorgensen

as its keynote speaker. She is the author of the groundbreaking book “Stewards of the Future,” which is focused on Environmental, Social, and Governance (ESG). Jorgensen will provide the framework and discuss the best ESG practices adopted by world-leading companies and, in turn, challenge the Philippines' business sector to take actionable steps towards realizing the future that the country needs, starting today. Two reactors from the energy sector will

join Jorgensen and contextualize how ESG is practiced in the Philippines. They are Lorelie Quiambao-Osial, Country Chair and first Filipina President and CEO of Pilipinas Shell Petroleum Corporation; and Ricardo B. Tantoco, President/COO of the Energy Development Corporation. They will impart how they direct their companies towards creating sound policies that balance business growth and expansion vis-à-vis the impacts on the environment and society. The first week of July is “National CSR Week,” and LCF has annually held the CSR Expo since 2001. The LCF, with 91 current members, is a network of the largest operating and grant-making corporate foundations and corporations in the Philippines. “We hope that the Expo will continue to serve as a call to action to collaborate and find solutions that will bring longlasting change and positive impact to the country and our people,” said Sebastian Quiniones, LCF Chairperson.

OR the whole month of June, Radenta Technologies offers Microsoft Teams Essential at a half price of only $2 from the regular price of $4 or its equivalent in Philippine peso, per user per month. This makes it the most affordable all-in-one solution in the market today. Microsoft Teams Essentials is the first standalone offering with small business in mind. This new subscription makes the best of Teams available as an affordable standalone app. It brings together features including unlimited group video calls for up to 30 hours per meeting, unlimited group chat, 10GB storage per user, file sharing and calendaring. Microsoft Teams Essentials allows employees to meet, chat and collaborate from anywhere. It supports one-on-one meetings, small groups or even up to 300 people. It comes with virtual

backgrounds, screen sharing and recording. Sharing files is easier with Microsoft Teams Essentials. Employees can work together in real time. File sharing can be done in the cloud thus minimizing emails. Anyone can create and co-author documents by using Office apps on the web. Microsoft Teams Essentials allows the use of 800 plus business apps integrated with the Teams experience. This eliminates the need to switch between apps. It also keeps existing email and calendar. According to Michelle Lasam, Radenta’s Microsoft LOB Operations Manager, “Microsoft Teams Essentials answers the usual questions of a small business owner.” Know more about Microsoft Teams Essentials Half Price Offer. Call 0919-0858241, email info@radenta.com or log on to https://www.facebook.com/radentatechnologies.

Ogilvy Brand Camp held for emerging Filipino brands focused on leveraging Data and Technology

GILVY Philippines recently concluded a fourth Brand Camp for emerging Filipino brands, in partnership with IdeaSpace Foundation. The camp brought together small businesses designed at their core to make the world better through shared value, and share how they can leverage the power of data, technology and innovation to create a stronger marketing communications strategy. Run virtually over three mornings, from May 25 to 27, participants learned first-hand from one of the world’s leading marketing communications agencies how to fine-tune their own integrated marketing communications blueprints by understanding how best to use data and which technology options are available to them. “BrandCamp was founded to give emerging brands an opportunity to learn key marketing communications principles, get the chance to consult with experts, and start to think about branding and marketing as a long-term pursuit,” said Ogilvy Philippines CEO Elly Puyat. Themed “Intersection of Tech and Impact”, BrandCamp4 was facilitated by Ogilvy Strategy and Training Director Toni Tiu with a faculty consisting of senior leaders from different areas of Experience expertise. Working with IdeaSpace Foundation, a nonprofit running founder-focused programs for early stage tech startup founders passionate about solving emerging market issues, BrandCamp selected this year’s batch of BrandCamp participants from varied sectors. In the Health space, Alaga Health, the country’s first universal digital health marketplace & service aggregator, gives patients and healthcare providers end-to-end access to virtual and in-person health services. Also in Health is MedCheck, which partners with medical communities to improve the quality of healthcare and supports access to better treatments for patients in by accelerating the exchange of real-world clinical data. In e-commerce services, Oh My Genie by Chimera Technologies is an online grocery and delivery service that aims to create 30-minute cities where anyone can get what they need

and want ultra-fast. In Education, Wela School System works to unburden teacher and school admin paperwork by 90% via an end-to-end school management system. Digital leader Prosperna is on a mission to empower 100,000 Philippine MSMEs with simple and affordable eCommerce software. In Logistics, Diverzion Express Logistics Service is empowering Filipino riders to be entrepreneurs by building their own logistics businesses and promoting livelihood in their local areas. In travel and hospitality, EXPH Travel Differently, Inc., is on a journey to evolving their platform for gamified travel experiences to boost tourism as a partner to local tourism offices. Workbean creates software that helps companies showcase their brand culture as a company and workplace. Humble Sustainability, Inc., a value-driven marketplace dedicated to achieving circular living, solves the problem of clutter by collecting them for reuse, recyling or upcyling. For e-learning solutions, Cerebro by LMS Solutions Philippines helps teachers jumpstart online teaching with ready-made digital content on a managed cloud platform to reduce faculty workload and boost quality of online teaching. Follow-up consultation sessions are ongoing to help participants with their marketing communication goals.

OCP holds medical mission in Catanduanes

PERATION Compassion Philippines (OCP) visited Baras, Catanduanes, as part of its continued efforts to rebuild lives and help communities in need. This time, a medical mission was held in partnership with GCF-Mercy Ministry, the Philippine National Police, Ando Cua Foundation, the LGU of Baras, and BLGU-Puraran. The medical mission focused on providing free medical and dental consultations to residents of seven different barangays: Puraran, Genitligan, Venticayan, Agban, San Miguel, Paniquihan, and J.M. Alberto. A total of 573 residents benefited from medical services provided by the doctors, while 190 residents received free dental care during the two-day mission that took place from June 2 to 3. In addition to the medical mission, OCP also turned over houses to the residents as part of its iRebuild program. Under this program, the organization, in partnership with

OCP TOGETHER with the medical and dental mission team.

stakeholders, assists communities to be more resilient against natural disasters by providing them safe, dignified, and comfortable housing where families can safely stay. “The medical mission hopes to address the medical needs of communities that do not have accessible facilities within their reach,” Gerry Muni, Managing Director of OCP. “In addition, we also recognize that a key component to living healthy lives is having a safe house where families can reside. This is why we work with communities so that they will not be adversely impacted by natural disasters.” “We have been involved with the communities in Cataduanes since the early days of the pandemic, and we are glad to return once again to the people we serve,” Butch Albert, President of OCP, continued. “OCP is committed to improving the living conditions of our partner communities, and we will continue to do so to the best of our ability.”

BusinessMirror

Editor: Tet Andolong

Wednesday, June 22, 2022 B7

CCLEX a game-changer in Metro Cebu’s real estate development

CCLEX boosts Bria project

By Rizal Raoul S. Reyes

etro Cebu is acknowledged as one of the highly developed districts in the country. It hosts several wellknown business districts, huge shopping malls, reputable hotel chains and meetings, international conventions and exhibits (MICE) facilities, plus the formidable information technology-business processing management (IT-BPM) industry that provided close to 3 million residents ample employment opportunities and economic growth. “Metro Cebu’s three most important cities are Cebu City, the provincial capital and arguably its commercial core; Mandaue, which is located southeast of Cebu City and hosts most of the metro area’s manufacturing and industrial facilities; and Lapu-Lapu in nearby Mactan Island, which is home to the Mactan–Cebu International Airport, considered the Philippines’s second most important international gateway. Together, these cities comprise 65 percent of the metro area’s total population,” Charles Serviano, Senior Manager Landlord Representation of Colliers said in a recent webinar. The abundance of talent produced by its universities and colleges has definitely made Metro Cebu as one of the top outsourcing destinations in the country. According to Colliers, as of end-2021, the metro area has an office stock of approximately 1.3 million square meters, 92 percent of which are Peza-registered; an additional 65,000 square meters are forecasted to be completed in 2022, and approximately 98,900 square meters in 2023. By the end of 2024, its total office stock will reach approximately 1.5 million square meters. Although vacancy rate is projected to remain at 24.7 percent in 2022, increasing the level of office transactions is signaling a gradual re-

turn to positive territory. In fact, in 2021, Metro Cebu recorded net office take-up of 35,000 square meters. Serviano pointed out that Metro Cebu’s three most important cities are Cebu City, the provincial capital and arguably its commercial core; Mandaue, which is located southeast of Cebu City and hosts most of the metro area’s manufacturing and industrial facilities; and Lapu-Lapu in nearby Mactan Island, which is home to the Mactan–Cebu International Airport, considered the Philippines’s second most important international gateway. Together, these cities comprise 65 percent of the metro area’s total population.

The CCLEX is thus expected to drive prospective homebuyers towards Bria Condo Mactan.

The role of infrastructure Tra nsport infrastructure definitely played a key role in the rapid development of Metro Cebu and the rest of the province, according to Serviano, For years, he said the main island’s only connections to Mactan Island, where the airport is located, are Marcelo Fernan and Osmeña Bridges. “But 2022 saw the opening of the 8.9-kilometer Cebu–Cordova Link Expressway [CCLEX], also known as the Cebu–Cordova Bridge, which has eased travel time between downtown Cebu City and Mactan Island. Upon

CCLEX allows speedier travel between the islands of Cebu and Mactan.

its completion the bridge expressway became a game changer as it reduced travel time from Cebu City to Mactan–Cebu International Airport by approximately 40 minutes,” he said.

Aboitiz InfraCapital’s LIMA Estate accelerates sustainability

Serviano said the airport is going to have the much-needed rehabilitation. A second runway is also in the works, which once completed will significantly increase the airport’s capacity.

Property group expects housing among priority agenda of new govt By Roderick L. Abad

boitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group, bares plans to transform the LIMA Estate into a sustainable economic center to attract major investments to support the country’s economic recovery. AIC is looking to reshape its 794-hectare LIMA Estate in the Lipa-Malvar industrial corridor into a smart, next-generation, future-ready economic center to draw more businesses and green development into the region. LIMA Land President and AIC Economic Estates Head Rafael Fernandez de Mesa said the move towards sustainable, smart, and futureready estates should draw more investments into manufacturing and industries that would create tens of thousands of jobs. “We’re putting our Environmental, Social, and Governance goals at the heart of what we do, to enable us to create resilient spaces where we can also ensure the overall health and wellness of our community and the environment,” Fernandez de Mesa said. An additional 22,000 jobs are expected to be generated for the surrounding communities in the Lipa-Malvar, Batangas, following another 57-hectare industrial expansion to accommo-

date more locators in the LIMA Estate. Early this year, AIC participated in a pilot program in partnership with the Philippine Green Building Council (PhilGBC) to secure the BERDE District Certification of the LIMA Estate. Concurrently, it is also working with PhilGBC for the BERDE Building Certification of the LIMA Tower One, the first of seven multistorey office buildings to be built at LIMA’s Central Business District, slated for completion in 2024. BERDE Technical Manager Rowena Elayda lauds AIC’s commitment to the sustainable development of the built environment. “It is important for developers of wide-scale projects to incorporate sustainability at the district-level to enable projects, such as the LIMA Estate, to be the catalyst of change on how building owners design, construct and operate their buildings,” Elayda shared. PhilGBC developed the BERDE program in 2009 to proactively address the adverse impacts of climate change. The program, which has been recognized by the government, established the Philippines’s own national voluntary green building rating system to facilitate sustainable projects.

In addition, the LIMA Estate is also host to the Philippines’s 1st EDGE Advanced-certified factory building, built and developed by Springhill Holdings. The Springhill LIMA Standard Factory Building (SFB) received a preliminary EDGE Advanced certification from the Philippine Green Building Initiative (PGBI) and was built to serve any industry’s manufacturing processes or warehousing with high vertical racking systems. The EDGE certification is an innovation of the World Bank Group’s International Finance Corporation (IFC), created to respond to the need for a measurable and credible solution to prove the business case for building green and unlocking financial investment. In line with these developments, Fernandez de Mesa emphasized the importance of ensuring that AIC’s Economic Estates are poised to welcome sustainable locators like Springhill as part of its commitment to enable businesses and uplift communities. “These certifications and green initiatives underscore our commitment to ensure those who would choose our economic centers will find a home that checks all the boxes in their ESG scorecards now and in the years to come.”

The CCLEX, which connects mainland Cebu to Cordova town in Mactan Island. will also benefit the Bria Condo Mactan, a sleek mid rise residential condominium that features comfortable and easy-tomaintain well-sized units for small families and hardworking young professionals. Jasmin Alviola, Division Head of One Cebu, told the BusinessMirror in an e-mail interview that CCLEX will drive prospective homebuyers towards Bria Condo Mactan, a sleek mid r ise residentia l condominium that features comfortable and easy-to-maintain well-sized units for small families and hardworking young professionals. Location-wise, Alviola said accessibility of Bria Condo Mactan CCLEX will make the daily commutes of future homeowners between the island and Metro Cebu hassle-free. “Anyone in real estate knows the value of a great location. Our Bria Condo development in Mactan has access to key lifestyle destinations on the island and proximity to the new CCLEX. Locals and migrants who wish to set down roots in Cebu are welcome to check out Bria Condo Mactan. We hope they will find their home of choice with us,” she explained. Bria Homes’ vertical housing project in Mactan of fers an array of features that will encourage a healthy, active lifestyle among condo dwellers. There are walkable pathways surrounded by greenery for residents’ leisurely strolls. For the more exercise-driven, there are the jogging paths and the enticing swimming pool. As new infrastructure drives economic growth in Mactan, Alviola said value appreciation of the property will rise, too. Those purchasing today can expect significant returns on their investment years down the line.

ITH the incoming administration, real-estate industry leaders expressed their hope that the country’s housing backlog now affecting some 6.7 million poor families will be given a high priority under the leadership of president-elect Ferdinand “Bongbong” R. Marcos Jr. Lauding his overwhelming victory at the recent polls, the Chamber of Real Estate and Builders’ Associations Inc. (Creba) led by its national chairman Charlie A. V. Gorayeb and national president Noel Toti M. Cariño said that the industry expects such housing concern will be included in the new government’s agenda. According to the former, homelessness has continued to be a perennial problem in the country since the adoption of the Constitutional mandate for an urban land reform and housing program for the underprivileged 35 years ago. “Myriad problems besetting the housing effort have remained unresolved, the major ones being lack of affordable and effective homebuyer financing mechanisms that targeted the truly underprivileged, inaccessibility of land, over-regulation and bottlenecks in the licensing and permitting processes for land and housing development, especially at the local government level,” Gorayeb said. The housing sector expects a cohesive, concrete and well-targeted approach towards a lasting solution, as the incoming President’s forebears had pursued in the past, he noted. “The holistic concept of human settlements and the proposition that shelter is one of the 11 basic needs of man were first adopted in the country during the time of the late Ferdinand E. Marcos, Sr.,” the

Creba head cited. “It was also during this time that the National Housing Authority [NHA], the Pag-IBIG Fund and the secondary mortgage market system were created, and landmark legislations such as the Social Housing Law [BP 220] and Subdivision Buyers Protective Decree [PD 957] were promulgated,” he added. Gorayeb said these developments spurred a growth momentum for the housing sector under the auspices of the then Ministry of Human Settlements led by former first lady Imelda Marcos. At present, the country’s umbrella group of housing and real-estate industry stakeholders is finalizing legislative proposals for comprehensive programs on public housing and homebuyer financing assistance as part of its five-point housing agenda targeting to produce 500,000 units annually or a total of 10 million homes in 20 years. Cariño, on the other hand, pointed out that housing the underprivileged is not only a social and moral obligation for government, but also an economic responsibility, since housing activity catalyzes business opportunities in dozens of downstream industries. “No doubt President Marcos’s newly appointed economic team of illustrious experts are well aware of this, and thus we are hopeful they will be supportive once they have studied our recommendations,” said the Creba national president. “If our country’s economy is to recover speedily from the Covid devastation, to our mind, a truly meaningful, massscale public housing program should be the administration’s centerpiece, given housing’s unparalleled capital-intensive as well as economic, tax and labor multiplier effects,” he added.

Sports BusinessMirror

| Wednesday, June 22, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

PRINGLE

Pringle-less Gin Kings take on Road Warriors

CHALLENGING C CALCULATION CARLOS YULO spends sweet moments with girlfriend Chloe San Jose.

YULO: ‘COULD HAVE BEEN MORE’

By Josef Ramos

ARLOS YULO’S in town to celebrate with loved ones his victories at the Vietnam 31st Southeast Asian Games where he won five gold medals and at the Ninth Senior Artistic Gymnastics Asian Championships in Doha where he bagged three titles. Intimately celebrating with the 22-year-old champion gymnast was his Melbourne-based girlfriend, 20-year-old Chloe San Jose, who belted a tune during the victory party at the Heritage Hotel on Tuesday. But despite the celebration, Yulo said he could have done more in Doha. “I’m not satisfied particularly with my all-around,” Yulo told BusinessMirror. “That’s the best that my body got to show in the finals because I didn’t feel well during the competition…I didn’t know why.” Yulo clinched silver in the all-around, the first event in the championships, but it was enough

for him to book another ticket to the world championships which Liverpool is hosting in October. Later in the tournament, he won gold medals in the floor exercise, vault and parallel bars. “I just have to work and train harder and wiser everyday to improve myself—that’s what I need to do,” said Yulo, who missed the podium in Tokyo but has his sights fixed on the Paris 2024 Olympics which he could reach if he excels on Liverpool. Yulo said he would try more difficult routines as he gears up for Paris. “I’ll give it a try to do well in four in the events in the Olympics,” he said, referring to the floor exercise, vault, parallel bars and individual all-around. “We will try some new elements in vault and parallel bars. The level of difficulty need to go up, and that’s for the Olympics.” Next stop for Yulo is the allJapan championships in Tokyo in September.

Women’s rugby league also bars transgender athletes

RISBANE, Australia— Transgender athletes will be barred from women’s international rugby league matches while the sport’s governing body formulates its inclusion policy. Two days after world swimming’s governing body effectively banned transgender women from competing in women’s events, the International Rugby League on Tuesday said it was continuing to review and update rules about transgender participation in women’s international tournaments. “Until further research is completed to enable the IRL to implement a formal transgender inclusion policy, male-to-female (transwomen) players are unable to play in sanctioned women’s international rugby league matches,” the IRL said in a statement. It planned to use the eight-team Women’s World Cup, being staged in England from November 1 to 19 in conjunction with the men’s Rugby League World Cup, to help develop a comprehensive policy. The IRL said it last reviewed

transgender participation in international rugby league in early 2021 but now had to consider more recent developments in world sport, including the International Olympic Committee’s publication of guidelines for fairness, non-discrimination and inclusion. “In the interests of avoiding unnecessary welfare, legal and reputational risk to International Rugby League competitions, and those competing therein, the IRL believes there is a requirement and responsibility to further consult and complete additional research,” the statement said. The IRL said it would seek to work with the eight teams competing in the women’s World Cup—Australia, New Zealand, Papua New Guinea, Cook Islands, England, France, Canada and Brazil—to obtain data and and develop a set of criteria which fairly balance the individual’s right to play with the safety of all participants. The England-based International Rugby League governs the 13-a-side game established in 1908 and played mainly in northern England, Australia, New Zealand and the Pacific.

Fitzpatrick did it with magic MOST golf championships are won with one magical shot. At times, it happens at the most unexpected places. It is something so surreal you’d think an unseen power had manufactured it. Matt Fitzpatrick did just that, winning the US Open in its 122nd year on Monday to reprise his feat of almost a decade back—win the US Amateur in 2013. Golf always drips with stirring drama that admirers of the game do not tire hearing the end of it, as in the sweet shocker of a first-round knockout punch in boxing, or a winning three-point basketball shot at the buzzer.

ACCURATELY tracking Olympic costs—who pays, who benefits, and what are and are not Games’ expenses—is a moving maze.

OKYO—Organizers of last year’s COVID-delayed Tokyo Olympics were expected to place the final cost of the Games at 1.42 trillion yen, about twice what was forecast when the International Olympic Committee (IOC) awarded them in 2013. Tokyo Olympic officials, meeting Tuesday before the body dissolves at the end of the month, were to detail final numbers, which were increased by the pandemic, but were in record range long before that. Calculating the costs is

Rugby union, the original, primarily 15-a-side game governed by the Dublin, Ireland-based World Rugby, does not allow transgender women to play in women’s competition. International rugby union guidelines state the reason being: “Because of the size, force- and powerproducing advantages conferred by testosterone during puberty and adolescence, and the resultant player welfare risks this creates.” World Rugby committed to a formal review of the policy every three years. FINA, the international swimming federation, adopted a new “gender inclusion policy” on Sunday that only permits swimmers who transitioned before age 12 to compete in women’s events. FINA also proposed an “open competition category” in international swimming and said it was setting up a working group to spend the next six months investigating the most effective way of establishing it. AP

In golf, just one swing can stun us—mostly happily, at times eerily—from the teeing ground, from the fairway, from the green, from the rough, from the fairway bunker, from the sand trap guarding the green, and even from the woods or from an impossibly fried-egg situation in the sand. Nine years ago, Fitzpatrick won the US Amateur at The Brookline Country Club in Massachusetts. He beat a brat pack that included Xander Schauffele, Justin Thomas and the now world No. 1 Scottie Scheffler, the just recently crowned Masters champion, who are now seriously challenging the established stars of the game. In winning the US Open two days ago, Fitzpatrick did it with a title-clinching shot that only firm believers of witchcraft could believe it would happen. Leading by just a shot as he stood on the 18th tee mound, Fitzpatrick ripped a 3-wood on the 444-yard 72nd hole that went way too left, landing at the center of a yawning bunker off the fairway. With disaster looming large in the form of a cavernous sand trap guarding the front of the green, Fitzpatrick pulled out a 9-iron, and hit a cut shot from 159 yards to 18 feet past the cup for a birdie try that flew away. No worries. Will Zalatoris blew a playoff chance, missing a birdie himself from 14 feet to lose by one, and finishing second for the third time in a major. “The bunker is the one place I didn’t want to be,” Fitzpatrick said, who became only the second player after

challenging because of recent fluctuations in the exchange rate between the dollar and the Japanese yen. When the Olympics opened a year ago, $1 bought 110 yen. On Monday, $1 bought 135 yen, the dollar’s highest level against the yen in about 25 years. The fall in the yen’s value means the cost of the Olympics quoted in dollars is now about $10.5 billion. A year ago, the price was about $13 billion. Victor Matheson, a sports economist at the College of the Holy Cross who has written extensively on the Olympics, suggested by email to AP that most of “the expenses and revenues are in yen, so the exchange rate changing the dollar amounts doesn’t affect how the event ‘feels’ to the organizers.” In the runup to the Tokyo Games, organizers often used the exchange rate of 107. At that rate, the equivalent of 1.42 trillion yen would be $13.33 billion as final price tag. Matheson and fellow American Robert Baade researched Olympic costs and benefits in a study called “Going for Gold: The Economics of the Olympics.” They write “the overwhelming conclusion is that in most cases the Olympics are a money-losing proposition for host cities; they result in positive net benefits only under very specific and unusual circumstances.” Accurately tracking Olympic costs—who pays, who benefits, and what are and are not Games’ expenses—is a moving maze. Olympic organizers estimated the official costs when the Games closed at year ago at $15.4 billion. Four months later, organizers said the costs had fallen to

$13.6 billion. They said there had been a large saving because no fans were allowed to attend, dropping security costs, venue maintenance and so forth. However, organizers lost at least $800 million in income from no ticket sales, which fell to the Tokyo Metropolitan Government to cover. A University of Oxford study in 2020 said Tokyo was the most expensive Olympics on record. There is one undeniable fact: more than half of the costs were paid for by public money—Tokyo’s government, the national government and other government entities. In the several years prior to the Olympics, government audits found official costs might have been twice as much as stated, meaning the public portion of the bill might be far more than half. The IOC in its annual report says it contributed about $1.9 billion to cover Tokyo costs. It’s impossible to assess the longterm impact of the Tokyo Olympics, particularly in a sprawling city like the Japanese capital where change is constant. The pandemic erased any short-term tourism bounce. Local sponsors, who paid more than $3 billion to be linked to the Olympics, didn’t seem very happy according to local reports. Dentsu Inc., the giant Japanese advertising and public relations company, may have benefited. It directed marketing for Tokyo 2020, received commissions for lining up sponsors, and has been linked to an IOC vote-buying scandal that was tied to Tokyo getting the Games. The scandal forced the resignation of Tsunekazu Takeda in 2019, an IOC member who also headed the Japanese Olympic Committee. AP

Jack Nicklaus to win both the US Amateur and the US Open on the same venue. Nicklaus did it at Pebble Beach. “I guess ability just took over (on that daunting bunker shot),” said Fitzpatrick, who also became the second Briton to win the US Open after Justin Rose in 2013. “It’s one of the best shots I’ve hit of all time. I can now retire a happy man.” What? At 27 years of age, you have the world at your fingertips. THAT’S IT The Golden State Warriors are still in utter bliss savoring their fourth NBA (National Basketball Association) title in eight seasons, adding their victories in 2015, 2017 and 2018. Although three-point king Steph Curry easily took home the Finals MVP (Most Valuable Player) trophy, Klay Thompson also shone brilliantly on his own, mainly on account of his stupendous comeback from two career-threatening injuries. Thompson’s first injury was three years ago when he tore the ACL in his left knee in Game 6 of the 2019 NBA Finals. He was on the way to recovery when, nearly one-and-a-half years later, he tore his right Achilles tendon. “The anguish that Klay has felt over the last three years…people can guess as to what it is like…it’s been a rough go for him.” I can imagine. Klay’s definitely a perfect study of audacity.

OMBO guard Stanley Pringle is down with another injury and that worries Barangay Ginebra San Miguel Head Coach Tim Cone. “Playing without Stanley will be a blow to us when we play NLEX,” Cone told BusinessMirror on the eve of their game against the Road Warriors at 6 p.m. at the Mall of Asia Arena on Wednesday. “We’ll need the next guy to step up, perhaps Nards [Pinto] and our rookie Jayson David.” Pringle strained his right hamstring during their 84-89 loss to Magnolia last Sunday, sending the Gin Kings into a tie with the Road Warriors with a 2-1 won-lost card. NLEX, on the other hand, is wellrested from a 90-89 squeaker over TNT Tropang Giga last June 16. “NLEX is tough and coming into the game well-rested,” said Cone, the most successful PBA coach, adding “they’re waiting to see how he responds to treatment.” Cellar-dwellers Converge (1-3) and Terrafirma (0-3), meanwhile, square off in the first game at 3 p.m. Although Ginebra lost to Magnolia, the game was more costly to the Hotshots as Commissioner Willie Marcial suspended Calvin Abueva for one game and fined P10,000 for his “unacceptable antics.” Abueva was ejected from the game after bumping Pinto in the second half, resulting to his “unsportsmanlike conduct.” Josef Ramos

VNL: Netherlands sweeps Slovenia

HE Netherlands opened its Quezon City swing with a 25-17, 25-21, 26-24 victory over Slovenia in the men’s Volleyball Nations League on Tuesday at the Smart Araneta Coliseum. Team captain Nimir Abdel-Aziz, an opposite spiker from Italian club Trentino, paced the Dutch with 18 points and six digs, Bennie Tuinstra added 13 points and six digs while Thijs Ter Horst scored 12 points. The Netherlands, which chalked up its third win in five matches to remain in the upper half of the standings, fired nine service aces, with Abdel-Aziz accounting for three. “We played very clean, like a team,” said Tuinstra, who contributed two service winners. “It was tough, we were pushing and they [Slovenia] gave up big points that’s why we won today.” The Dutch displayed composure late in the third set behind clutch kills by Tuinstra and Abdel-Aziz producing clutch kills. Jan Kozamernik tried to extend the match for the Slovenians but his quick attack went wide. The good-sized men’s opening day crowd who showed up at the Big Dome inspired the Netherlands. “It’s always nice to have fans in the stands. The fans are great. It’s amazing to play here,” said Abdel-Aziz. The Slovenians dropped to 2-3 card to stay at the lower half of the 16-team field. Rok Mozic took the scoring mantle for Slovenia with 12 points, including three blocks, and seven digs, while Stern Ziga contributed 11 kills, six digs and five receptions. SLOVENIAN libero Alan Kosenina receives during his team’s match against The Netherlands. NONIE REYES