BusinessMirror March 06, 2024

The Court’s ruling reversed the 2013 decision issued by the Court of Appeals’ (CA)  Ninth Division declaring the provision unconstitutional.

The SC, instead,  gave weight to the arguments of the petitioners led by former President Gloria Macapagal Arroyo’s Executive Secretary Leandro Mendoza, and the DOE-Department of Justice  (DOE-DOJ) Joint Task Force,

PBy Cai U. Ordinario @caiordinario

OOR Filipinos disproportionately bore the burden of high rice prices in February, according to Tuesday’s latest inflation data released by the Philippine Statistics Authority (PSA).

Inflation for All Income Households accelerated to 3.4 percent (See: https://businessmirror.com. ph/2024/03/05/inflation-fasterat-3-4-in-february/) while the increase in commodity prices for the Bottom 30 percent reached 4.2 percent in February 2024.

National Statistician Claire Dennis S. Mapa said rice prices accounted for 49 percent or 1.6 percentage points of the inflation of all income households and 79 percent or 3.3 percentage points of the 4.2 percent inflation experienced by the poorest Filipinos.

“Because, of course, as I’ve been explaining in the past press conferences, rice has a huge weight on the bottom 30 percent compared to the all-income households,” Mapa said. “The increase in rice price really has a big impact on our headline inflation and the inflation for the bottom 30 percent,” he added, speaking partly in Filipino.

Rice has a weight of 8.87 percent in the Consumer Price Index (CPI) of All Income Households and 17.87 percent in the index fort the Bottom 30 percent of Filipino households.

In February, Mapa said rice inflation increased 23.7 percent and 26.3 percent for All Income and Bottom 30 percent households, respectively.

asserting that the power to determine the existence of war or other national emergency lies in the hands of the President and that  the delegation to the DOE was proper.

The petitioners further argued Section 14 (e) provides the specific duration of and restrictions in wielding the takeover power.

“Petitioners’ arguments have merit,” the Court declared.

The SC anchored its decision on See “DOE,” A

By Andrea E. San Juan @andreasanjuan

THE IT and Business Process Association of the Philippines (Ibpap) said the BPO industry may not hit its employment and export revenue targets if the cybersecurity issues in the country remain unresolved.

“It is to the country’s advantage that we, as an industry with the different subsectors, different BPO players and individually, contribute to the resolution of this problem affecting the growth of the industry,” Celeste Ilagan, Ibpap Chief Policy

Officer, said this in a statement on Tuesday.

“If we do not address this problem, our target of creating 1.1 million jobs by 2028 and contributing US$59 billion of export revenue will not happen,” the Ibpap official also noted.

Ilagan addressed a “multistakeholder” dialogue which the Ibpap hosted with the Department of Justice (DOJ) and other government stakeholders such as the Supreme Court, Department of Information and Communications Technology

See “Cybersecurity,” A

By Samuel P. Medenilla  @sam_medenilla

DRAWN by the opportunities from the country’s young and growing population, Macquarie Group Ltd. has committed to invest in the local renewable energy, valueadded mining and digitalization sectors during its meeting with President Ferdinand R. Marcos Jr. on Tuesday.

The Australian financial firm said the Philippines has the ideal demographics it is looking for in an investment destination since it has a “young and growing population,” which will provide the company with“a bigger opportunity in terms of growth and organization.”

“What we’re keen to do is to partner with Southeast Asia particularly with places like the Philippines, which are proving to be very good to create that environment for the pension savers money here. To bring capital to health, investing in infrastructure, etcetera,” Macquarie Group Managing Director and CEO Shemara Wikramanayake told the President.

Another factor for their decision to expand their local operation, she said, is the country’s push towards their priority sectors.

“The whole digitization process, we’re excited about. Also, the energy transition we’re excited about...

See “Mining,” A

MEMBERS of ASEAN pose for a photo during the Asean-Australia Special Summit in Melbourne, Australia, Tuesday, March 5, 2024. From left, the Prime Minister of Australia Anthony Albanese; the Prime Minister of Lao, Sonexay Siphandone; the Sultan of Brunei, Haji Hassanal Bolkiah; the Prime Minister of Cambodia, Samdech Hun Manet; the Indonesian President Joko Widodo; the Prime Minister of Malaysia, Anwar Ibrahim; the President of the Philippines, Ferdinand Marcos Jr., the Prime Minister of Singapore, Lee Hsien Loong; the Prime Minister of Thailand, Srettha Thavisin; the Prime Minister of Vietnam, Pham Minh Chinh; the Prime Minister of Timor-Leste, Xanana Gusmao, and the Secretary General of Asean Dr. Kao Kim Hourn. AP/HAMISH BLAIR

Cha-cha distracts Congress from vital reforms–analyst

By Cai U. Ordinario @caiordinario

CHANGING the country’s charter is merely a distraction to prioritizing economic policies that would help the Philippine attain its development priorities, according to a US-based think tank.

In its latest brief, Global Source Partners Country Analyst Diwa Guinigundo said pertinent legislative agenda are “gathering

Inflation. . .

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“Assuming there is no reduction in the price, and the movement will continue, we should be expecting high rice inflation July or August this year,” Mapa said.

“[Rice inflation in] July 2023 is about 4.2. August 2023 is 8.7, slightly higher. And then, in September, that’s when we saw double digit. So, well, I thought, July, August, better if it is early,” he added.

In terms of price per kilo, Mapa said regular-milled, well-milled, and special rice categories all exhibited double-digit increases year-on-year and single-digit growth month-on-month.

For regular milled rice, the average price in February 2024 was P50.44 per kilo, a 27.2-percent increase from the P39.65 per kilo posted in February 2023.

On a month-on-month basis, regular milled rice prices increased 1.6 percent from the average of P49.65 per kilo in January 2024.

Mapa said well-milled rice prices increased 27.1 percent to P55.93 per kilo in February 2024 from P43.99 per kilo in February 2023. The increase was 1.9 percent from the P54.91 per kilo recorded in January 2024. Special rice, meanwhile, averaged P64.42 per kilo in February 2024, a 19.5-percent

dust” in the halls of Congress because of the politicking related to Cha-Cha.

Guinigundo said the economy is facing potential headwinds from domestic and global markets, which require the government to give its undivided attention to the economy.

“The Philippine government should this early realize that such kind of distraction is the least we need as we face potential headwinds from both domestic and global markets,” Guinigundo said.

growth from the P53.89 per kilo average price recorded in February 2023. There was also an uptick of 0.8 percent from the P63.9 per kilo average posted in January 2024.

“Well, first, as mentioned, and it’s still... we can still see that rice prices in the world market continue to rise. So, that’s where prices are really going up. Of course, we have a tight supply, but it would follow the movement of rice prices in the world market,” Mapa said.

DTI, DOF chiefs weigh in

BACKED by “r obust” fiscal and monetary policies, the Philippines is “well-prepared” to weather inflationary pressures, according to Trade and Industry Secretary Alfredo E. Pascual.

“While the uptick in inflation rate requires our attention, it is crucial to understand it within the broader context of our dynamic global and domestic economic environments,” Pascual said in a statement on Tuesday.

“Underpinned by robust fiscal and monetary policies, we are well-prepared to navigate through these inflationary pressures. We remain steadfast in our balanced approach to economic management — sustaining economic growth while ensuring price stability,” added the Trade chief.

The Trade department said the February inflation figure is still within the government inflation rate target which is within 2 and 4 percent.

“Other equally important legislative agenda items are gathering dust pending the resolution of the Cha-Cha, for charter change, or the kind of ballroom dance that only goes forward and backward, or left and right,” he added.

Guinigundo said the cha-cha is being undertaken with the aim of liberalizing “restrictive economic provisions” that places a cap on foreign ownership in a number of sectors.

However, he noted that previous legislative reforms already helped broaden foreigner’s access to infrastructure projects such as rails, sea ports, airports and telecommunications.

Guinigundo also noted the recent amendment helped to do the same for the

For his part, Finance Secretary Ralph G. Recto announced government's proactive tack to prepare for further inflationary pressure from the impact of the El Nino phenomenon. Full story in B3 Banking, “DOF preps vs dry spell’s inflation jolt.”

Maintaining rates

THE Bangko Sentral ng Pilipinas (BSP) said the latest inflation print is within its expectations, which ranged from 2.8 percent to 3.6 percent.

However, the central bank expects the El Niño phenomenon to impact the country’s agricultural production adversely. Besides food, factors that would increase inflation in the second quarter of 2024 include higher transport charges, electricity rates and oil prices.

In February 2024, transport inflation increased to 1.2 percent on the back of the increase in passenger transport services, which grew by 2.8 percent.

Mapa said this is not only due to high oil prices but also toll facilities which posted an inflation of 7 percent, and inflation in other passenger transport by road, at 2.9 percent. Motorcycle inflation also increased by 2.9 percent.

“The risks to the inflation outlook have receded but remain tilted toward the upside,” BSP said on Tuesday. “The implementation of government measures to mitigate the impact of El Niño weather conditions is the primary

retail sector through the the amended Retail Trade Liberalization Act (RTLA). Under RA 11595, the minimum paid-up capital requirement for foreign corporations planning to do business here was lowered to P25 million from P125 million. It also simplified the qualification requirements for foreign retailers.

“While the House seems to have abandoned the People’s Initiative, if Congress were to vote jointly, it is likely it could still have its way,” Guinigundo said.

“Besides liberalizing the economic provisions, the House could extend such changes to term limits, form of government and other related issues in governance and

downside risk to the outlook.”

Recent statements by BSP Governor Eli M. Remolona Jr., Global Source Partners Country Analyst Diwa Guinigundo, already gave a clue to the stance of the BSP on key policy rates.

Guinigundo said he expects the BSP to continue maintaining its tight monetary policy. He said “El Niño is a game changer” that affected the country’s food production, leading to more expensive food items.

“We believe that BSP will remain steadfast and consistent with data-driven perspective—that it will avoid moving too fast in easing its current monetary stance unless the evidence is clearcut that the downtrend is fully established,” Guinigundo said.

“The BSP will only move when the forecasts for the next 12 months to 18 months convincingly fall within the 2 percent to 4 percent official target,” he added.

HSBC economist for the Asean Aris Dacanay expects as much and said the BSP’s inflation 2 to 4 percent target may be reached by the third quarter of 2024.

Dacanay said the second quarter of the year “will likely still be a sensitive period” and may keep the country’s key policy rate pegged at 6.5 percent longer than expected.

“Market jitters may add up as inflation nears the upper-bound target of 4 percent, more so with risks tilted to the upside as authorities mull a potential P100 across-theboard wage hike,” Dacanay said.

“Growth isn’t providing any pressure on the BSP to rush its easing cycle, with the Philippines being the fastest-growing economy in Asean for 2023,” he added.

Efforts underway DESPITE the uptick in inflation, BSP said it supports the national government’s efforts to contain the rise in commodity prices.

The National Economic and Development Authority (Neda) assured the public that the government is intensifying its efforts to mitigate the effects of the El Niño and help keep the inflation rate within target.

Balisacan said the government will continue monitoring food supply and prices. It will implement policies and strategies to ensure affordable and adequate food for Filipino families, especially those from the most vulnerable sectors.

“While we have seen some relief from certain inflation risks, we must not become complacent. The potential impact of a strong El Niño weather pattern on food prices is a significant concern for our community. Rising transportation costs, electricity rates, and volatile oil markets are putting pressure on household finances,” Balisacan said.

“Our team is actively formulating robust strategies with the concerned agencies in response to these challenges. We must be agile, adaptive, and forward-thinking,” he added.

He added that international rice prices have started to ease, and local supply is expected to increase with the dry season harvest, beginning this month through April.

Balisacan also said the Department of Agriculture (DA) is collaborating closely with the International Rice Research Institute to increase the country’s rice production.

Meanwhile, the next phase of the vaccine test for African Swine Fever (ASF) is awaiting Food and Drug Administration approval.

Once the ASF vaccine is proven efficacious, the government will roll out a vaccination campaign to help ensure adequate pork supply in the country. With Andrea E. San Juan

Mining. . .

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structure,” he added. The former Bangko Sentral ng Pilipinas (BSP) officoal also said the cha-cha could prevent a “Sara (Duterte) presidency” through “a switch to the parliamentary system under the leadership of Speaker Martin Romualdez.”

House Committee on Ways and Means Albay Rep. Joey Sarte Salceda voiced his concern on Thursday over the perceived limited economic impact of the Senate’s version of the proposed Cha-cha.

In a news briefing, Salceda said the Senate’s proposal is projected to contribute only a modest 3.1-percent boost to the economy.

In contrast, the House version of

Cybersecurity. . .

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(DICT), Philippine National Police (PNP), National Bureau of Investigation (NBI), National Privacy Commission and National Prosecution Service.

The discussion recognized the need to “tighten” cybersecurity and confront the rising incidents of cybercrime including fraud. Ibpap said this also covered sessions such as “collaborative strategies for cyber resilience and implementing best practices for effective cybercrime investigations.”

The concern has solid basis: on Tuesday, cybersecurity firm Kaspersky said the Philippines saw cyberattacks coming in once every minute in 2023 and that it will just continue to worsen this year.

In Kaspersky’s 2024 threat forecast in the Southeast Asian region, which includes the Philippines, experts predict that financial service outages, DDoS attacks, and website defacements will continue to persist.

For her part, DICT Undersecretary Jocelle Batapa-Sigue told the Ibpap-organized dialogue that the government needs to help improve the country’s existing policies to address and respond to “the changing times.”

In particular, Batapa-Sigue pointed out the need to designate data protection officers in

DOE. . .

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Article XII, Section 17 of the Constitution which provides for the takeover operations of privately owned public utilities or businesses affected with public interest by the President.

In relation to this, the SC said, Article VI, Section 23 of the Constitution provides limitations on the takeover power by giving the legislature the authority to grant the president emergency powers for a limited period and subject to restrictions.

While it seems that the said constitutional provisions limit the delegation of the takeover power to the President, the SC stressed that this is not without consideration.

It pointed out that Article VII, Section 17 of the Constitution gives the President “control of all the executive departments, bureaus and offices.”

It also cited the well-established“doctrine of qualified political agency,” which recognizes the diverse responsibilities a President faces.

The doctrine calls for the delegation of certain responsibilities to the Cabinet members as President’s alter egos.

“In other words, the President may carry out their functions through the heads of the executive departments.

“The secretaries of each department function as the President’s alter egos; however, they are not given complete discretion over how to exercise the delegated authority,” the SC stressed.

“Thus, Section 14 [e], as it currently stands, is constitutional. Nonetheless, if, in the exercise of its delegated authority, the energy secretary acts in contrast with the president’s intent or instructions, the act will be deemed ultra vires [beyond the powers] and an unconstitutional

Cha-cha, Salceda said, is anticipated to yield a more substantial 14.3-percent impact on the economy.

Salceda highlighted the importance of a robust and impactful Charter change, emphasizing that a 3.1-percent economic impact may not be sufficient to address the challenges faced by the country.

He argued that a more ambitious approach, such as the 14 percent impact projected by the House version, would be better suited to stimulate economic growth and development. (See:https:// businessmirror.com.ph/2024/01/18/ salceda-notes-comparisons-on-charterchange-proposals/)

BPO entities as prescribed by law, and provide training and equipment on cybercrime for law enforcers and the community at the regional level and the countryside.

In a statement in October 2023, Ibpap President Jack Madrid prodded the government to ensure that “robust data privacy and cybersecurity laws are established to deter cyberattacks and threats across sectors.”

Among the industry’s recommendations to the government: amend the Cybercrime Law to facilitate the legal proceedings against cybercrimes perpetrated by employees that “damage” the reputation of Philippine IT and Business Process Management (IT-BPM), or commonly called BPO industry, and other industries.

“Ibpap has taken the lead in communicating the urgency of addressing fraud within our sector and the inability of our members to take legal action against culpable individuals due to constraints set by current laws and regulations,” Madrid said in an earlier statement.

The head of the flagship organization of the BPO industry in the country also earlier noted, “We pledge to participate in partnerships and collaborations with industry stakeholders, government agencies, and cybersecurity organizations to exchange threat intelligence, best practices and cooperate on cybersecurity initiatives to create a safer Philippine cyber space.”

usurpation of executive power,” the SC added.

The case arose from a case filed by Pilipinas Shell and Petroleum Corporation with the Regional Trial Court of Makati City, assailing the validity of Arroyo’s EO 839 directing oil industry players to maintain the prices of their petroleum products following the onslaught of Typhoons “Ondoy”and“Pepeng”in 2009, which affected 9 million people and left almost 1,000 casualties, 700 injured and 84 missing.

The oil company also questioned the constitutionality of Section 14 (e) of the Oil Deregulation Law, the government used as basis for issuing EO 839.

The Makati RTC ruled in favor of Pilipinas Shell and declared 14 (e) as void and unconstitutional.

However, it did not rule on the validity of EO 839 for being moot following the issuance of EO 845 lifting EO 839 and discontinuing the oil price freeze.

This prompted the petitioners to elevate the issue before the CA, which upheld the Manila RTC’s decision declaring Section 14 (e) as unconstitutional.

Shell appeal expected

SHELL Pilipinas Corporation (SHLPH), formerly Pilipinas Shell Petroleum Corp., is expected to file an appeal.

According to sources, the oil firm will “most likely” file a motion for reconsideration. SHLPH has yet to release an official statement.

Other oil firms have yet to comment on the SC decision that declared constitutional Section 14 (e) of Republic Act 8479 or the Downstream Oil Industry Deregulation Act of 1998 which authorizes the Department of Energy (DOE) to take over operations of private entities in the oil industry given certain conditions.

With a report by Lenie Lectura

Marcos welcomed the investment commitment, which he said, is in line with his administration goals for achieving economic transformation.

“I don’t see any part of what we’ve discussed so far that is not applicable to what our ground plan for the economy of the Philippines. So, again, we’re very open to any insights you might have to improve investment terrain in the Philippines,” the President said.

The Department of Trade and Industry (DTI) reported its Board of Investments (BOI) granted a green lane certificate for theMacquarie-financed1.3 gigawatt floating solar project in Laguna Lake.

Wikramanayake met with Marcos on Tuesday at the sidelines of his participation in the Association of Southeast Asian Nations (Asean)-Australia Special Summit in Melbourne on Tuesday.

Macquarie has been operating in the Philippines for over 15 years, with more than 1,000 direct employees through Macquarie Offshore Services. It managed the first and largest-ever infrastructure fund for the Philippines at P25 billion through the Philippines Investment Alliance for Infrastructure (PINAI) in partnership with the Government Service Insurance System (GSIS).

A Macquarie Asset Management (MAM)-led consortium also acquired a majority stake in Energy Development Corporation (EDC).

Group urges government to protect, preserve,

and utilize Philippine

Rise

CITING its vulnerability to poachers and foreign exploitation, the Philippine Rise should be protected and properly utilized by the government, a national organization of small fishers and fisherfolk organizations said on Tuesday.

In a statement, the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) said the government’s alleged “constant failure” to preserve, protect, and utilize the resource-rich territory, formerly called Benham Rise, makes it more vulnerable to foreign poachers and exploitation.

The group stated the reported presence of China Coast Guard vessels in the vast underwater plateau located off the coasts of Aurora Province, which is opposite the West Philippine Sea.

“The government only sends troops to the Philippine Rise whenever there are sightings of foreign vessels, instead of regularly conducting maritime patrols to prevent poachers and other foreign exploration activities. International laws on the sea and continental shelf have already established the Philippines’ rights to explore and manage the Philippine Rise. The Philippine government does not prioritize maximizing these bountiful resources for our national industry and food security,”

Fernando Hicap, Pamalakaya national chairperson, said.

The group also said that the alleged lack

of government support for local research and development makes the country incapable of exploring and utilizing the oil and mineral potentials of the Philippine Rise.

There were earlier reports that the Philippine Rise has been frequented by foreign poachers, mainly from Japan, South Korea, and Taiwan, which were monitored to catch high-grade tuna.

Pamalakaya said that despite its distance to the mainland, the Philippine Rise has a significant contribution to local fisheries.

Maraming magagandang klase ng isda na nahuhuli sa lalawigan ng Aurora, Isabela, Cagayan, Quezon, atBicol aynanggagaling sa Philippine Rise. Kaya tiyak na makikinabang ang mga mangingisda at malaking bahagi ng populasyon kung mapapangalagaan ang karagatang ito,” ended Hicap.

The Benham Rise is endowed with abundant marine species like first-class tuna and blue marlin, and untapped mineral and gas deposits. It was confirmed by the United Nations Convention on the Law of the Sea (UNCLOS) as part of the Philippines’ exclusive economic zone (EEZ). Additionally, the UN Commission on the Limits of the Continental Shelf ruled in 2012 that the rise was part of the country’s extended continental shelf, and thus the country could explore, exploit, conserve, and manage its natural resources. Jonathan L. Mayuga

Two PHL ships damaged, four crew hurt in latest RORE mission in Ayungin Shoal

By Rex Anthony Naval

ATLEAST two Filipino vessels were damaged in Tuesday’s latest rotation and reprovisioning (RORE) mission to the contingent manning the BRP Sierra Madre (LS-57) in Ayungin Shoal, West Philippine Sea due to harassment by China Coast Guard (CCG) and Chinese Maritime Militia (CMM) ships.

“This morning [Tuesday] CCG and CMM vessels harassed, blocked, deployed water cannons, and executed dangerous maneuvers in another attempt to illegally impede or obstruct a routine resupply and rotation mission to BRP Sierra Madre at Ayungin Shoal,” the National Task Force for the West Philippine Sea (NTF-WPS) said in a statement. It also said that at around 6:32 a.m. Tuesday, a CCG vessel with bow number 21555 executed dangerous blocking maneuvers against Philippine Coast Guard (PCG) vessel BRP Sindangan (MRRV-4407), which caused a minor collision resulting in superficial structural damage to the hull of the PCG vessel.

Almost two hours later, around 8:15 a.m. another CCG vessel caused a minor collision with Unaizah Mae 4 (UM4) due to its dangerous blocking maneuvers.

“CCG vessels 21555 and 21551 deployed water cannons simultaneously against the supply boat UM4. The use of water cannons by the CCG vessels shattered the windshield of UM4, causing minor injuries to at least four personnel on board. At 0936H, the injured personnel were treated by PCG personnel

We’ve nothing to do with Senate coup talks–House questioned why the House is suspected of being the source of coup discussions as he highlighted their limited influence on Senate internal matters.

KEY members of the House on Tuesday denied meddling with the Senate leadership amid reports of a potential coup to replace Senate President Juan Miguel Zubiri. Deputy Majority Leader for Communications and ACT-CIS Rep. ErwinTulfo emphasized that the House cannot intervene in Senate affairs, treating

the Senate as their own domain. He addressed rumors acknowledged by Senator Imee Marcos, asserting that any alleged pressure to change Senate leadership did not originate from the House. House Assistant Majority Leader Raul Angelo Bungalon of Ako Bicol party-list

Despite the political drama, Bungalon urged a focus on legislative agendas and hoped the Senate would address its internal affairs appropriately.

“So despite this political drama, my call

from [the] MRRV,” NTF-WPS said.

Due to the damage and injuries to the vessel and crew, UM4 proceeded back to mainland Palawan under escort of BRP Sindangan.

“At 0930H, Unaizah Mae 1 [UM1] successfully docked with LS-57 and began its resupply. It concluded its resupply and departed BRP Sierra Madre at 1054H,” it noted.

Despite this, the NTF-WPS said the Philippines would not be deterred from exercising its legal rights over the country’s maritime zones, including Ayungin Shoal, which forms part of its Exclusive Economic Zone (EEZ) and continental shelf.

“We demand that China demonstrate that it is a responsible and trustworthy member of the international community,” it added.

NTF-WPS also said China’s latest unprovoked acts of coercion and dangerous maneuvers against a legitimate and routine Philippine rotation and resupply mission to Ayungin Shoal, have put the lives of Filipino, aside from causing actual injuries to those aboard UM4.

It added that the systematic and consistent manner that China conducts these illegal and irresponsible actions puts into question the sincerity of its calls for peaceful dialogue and lessening of tensions.

“The Philippines, for its part, continues to act peacefully and responsibly, consistent with international law, particularly UNCLOS and the legally binding 2016 Arbitral Award. Peace and stability cannot be achieved without due regard for the legitimate,

would be, let’s just focus on the legislative agenda and of course I hope that the Senate will handle its internal matters appropriately,” he said. Rep. Mikaela Angela Suansing of Nueva Ecija expressed her wish that internal dynamics in the Senate would not disrupt ongoing hearings on proposed constitutional amendments. She urged the Senate to maintain

well-established, and legally settled rights of others,” NTF-WPS stressed.

It added that the Philippines will not be deterred from exercising its legal rights over its maritime zones, including Ayungin Shoal, which forms part of its EEZ and continental shelf.

“We demand that China demonstrate that it is a responsible and trustworthy member of the international community,” the agency stressed.

Japan assures support to PHL

THE Japan Embassy, meanwhile, expressed its “grave concern” on the repeated dangerous actions in the SCS, including the recent use of water cannon by CCG, which resulted in Filipino injuries and a collision.

A statement from the embassy assured “Japan will continue to stand with the Philippines and cooperate with like-minded countries to maintain the peace and stability in the region.”

Deep concern SPEAKER Ferdinand Martin G. Romualdez, for his part, reaffirmed the House’s commitment to actively cooperate in the legislative process in bolstering the capabilities of the PCG and advancing the modernization of the AFP.

Romualdez expressed deep concern about the recent collision, emphasizing that the stability and prosperity of the region depend on diplomacy and adherence to the rules-based international order.

“I am deeply concerned about this recent

progress on local and national bills. “Apart from that, really hope they keep moving on the local bills and the national bills because we have to keep the legislative mill going,” she said. She said the coup talk should not distract senators from their legislative agenda. Tulfo said Sen. Marcos’ information might have come from other sources but not the

development in connection with the territorial dispute between our nation and China. The stability and prosperity of our region rely heavily on the principles of diplomacy and adherence to the rules-based order,” Romualdez said.

“The Philippines remains committed to pursuing diplomatic channels to address this issue and seeks to foster a relationship with China based on mutual respect and cooperation. We believe that by working together in a spirit of goodwill, we can achieve a peaceful and equitable resolution to our territorial dispute,” the House Speaker added.

‘Unacceptable’

REACTING to the latest incident at the Shoal, Senator Jinggoy Estrada called on China to respect international maritime laws, adhere to established norms, and cease bullying tactics. Such provocative actions, he added, are unacceptable.

“I stand in solidarity with the Department of Foreign Affairs and the Philippine Coast Guard in urging China to stop harassing our vessels en route to the resupply mission to Ayungin Shoal in the West Philippine Sea,” he said.

“As a nation, we remain committed to safeguarding our territorial integrity and protecting the rights of our seafarers. We call on the international community to closely monitor regional developments and support efforts to maintain a rules-based order,” the senator said. With Jovee Marie N. Dela Cruz

House, whose members have been busy tackling proposed economic constitutional amendments and other pressing issues.

Tulfo pointed out that other than Charter reforms, the House is so preoccupied with so many things, including measures to fight inflation and help the poor, that they have no time to indulge in rumors.

Jovee Marie N. Dela Cruz

A4

Wednesday, March 6, 2024

PCC and Australia’s competition watchdog sign agreement to strengthen cooperation

By Andrea E. San Juan @andreasanjuan

THE Philippine Competition Commission (PCC) announced Tuesday it has inked an agreement with the Australia Competition and Consumer Commission (ACCC) to promote technical assistance and capacity-building activities, among others, between the two competition bodies.

In a statement, PCC said the memorandum of understanding (MOU) was signed by PCC Chairperson Michael G. Aguinaldo and ACCC Chair Gina Cass-Gottlieb last February 28 in Canberra, Australia.

“The MOU aims to facilitate the exchange of information, experiences, and best practices on competition law

and policy and to promote technical assistance and capacity-building activities between the PCC and ACCC,” PCC said.

PCC said the deal also provides for coordination and cooperation on cases of “mutual interest,” subject to confidentiality and legal requirements.

In his remarks, Aguinaldo expressed gratitude to ACCC for its “consistent support” to the PCC since its establishment in 2016.

The PCC chairperson highlighted the forms of aid that Australia’s competition watchdog extended to PCC over the years, such as “assistance in the finalization of the rules and regulations of the Philippine Competition Act, secondments of officials and staff under the Competition Law Implementation Program [CLIP], and conduct of regular capacity building activities.”

Aguinaldo underscored the importance of this MOU, saying it will “further solidify the strong bilateral ties between the Philippines and Australia and will enable the PCC to contribute to the effective enforcement of their respective competition laws.”

For Australia’s part, Cass-Gottlieb expressed confidence that the agreement will “foster closer and more productive collaboration between the two agencies.”

“ACCC is proud to be a partner of PCC in advancing the common goals of consumer welfare and economic development,” she said.

PCC is the Philippines’s primary competition authority mandated to enforce the Philippine Competition Act (PCA), while the ACCC is Australia’s independent statutory authority that administers the Competition and

Consumer Act of 2010.

The PCC has jurisdiction over enforcement and implementation of the provisions of the PCA and its Implementing Rules and Regulations, according to the PCC website.

Its mandate includes, among others, the review of mergers and acquisitions; investigation and adjudication of antitrust cases; imposition of sanctions and penalties; monitoring the environment for competitionrelevant interventions.

The PCC is also mandated by law to conduct and disseminate studies and reports on competition-related matters; issue advisory opinions; promote capacity building and sharing of best practices with other competitionrelated bodies and advocate for procompetition culture in government and businesses.

DICT’s eGov mobile app now generates digital national ID

By Malou Talosig-Bartolome

THE eGov mobile app of the Department of Information, Communications and Technology (DICT) can now generate digital national ID and can be presented by Filipinos in transacting with government and banks.

TR “Mon” Gutierrez, chief of staff of the DICT office of E-Government, announced this before a group of Malaysian and Philippine technology entrepreneurs at a business forum in the Malaysian Embassy. He quickly clarified though to the B USINESS M IRROR that the nationwide official launch of the digital national ID needs the

final approval of President Ferdinand R. Marcos Jr. Gutierrez said the digital national ID is most beneficial for Filipinos who have yet to register for a national ID. “If you already registered and applied for national ID, and you got your physical ID, well and good. But if you have not applied for a national ID, you can secure the digital version for free through the eGov app,” he said.

One of the important features of the digital national ID is that each digital national ID has a unique and secure QR code that can be verified at e.gov.ph/verifier.

The DICT is working with the Philippine

Statistics Authority on finalizing the digital national ID. Gutierrez said they are also coordinating with the Bangko Sentral ng Pilipinas and the Bureau of Treasury on the payment system for eGov.

The DICT aims to make eGov platform the “heart of interoperability” of the Philippine government services.

“The only remaining problem, which is largely being solved by DICT, is the challenge of interoperability. The average Filipinos has to contend with so many government agencies. If he wants to have a copy of birth certificate, you got to go from one agency to another. When applying for a job, you go to

PHL opens schools to Burmese students

DBy Manuel T. Cayon

AVAO CITY—The Philippines opened its door to Burmese students who intend to pursue higher education away from their troubled country.

The Philippines agreed to partner with the United States Agency for International Development (USAid) to allow students from Burma, now named Myanmar, to study in selected universities in Metro Manila and other provinces.

The Philippines selected Batangas State University, Lyceum of the Philippines University-Batangas, St. Louis University in Baguio, the University of the

Philippines-Diliman, and the University of the Philippines-Los Baños for the program.

A US Embassy news dispatch on Tuesday said the USAid launched the Diversity and Inclusion Scholarship Program, a five-year, $45-million initiative “that will provide Burmese youth with the opportunity to pursue quality higher education in several Asian countries, including the Philippines.”

Through this program, USAid is partnering with the Philippines’ Commission on Higher Education (CHED) to provide full scholarships for students from Burma to enroll in various public and private universities in the Philippines and in online programs through the University of Arizona, it added.

The US agency “will work closely with CHED to streamline the admissions process for Burmese students and provide support services to facilitate their transition to studying in Philippine universities.”

It said the Burmese scholars are expected to arrive in the Philippines by July this year to allow them to begin their studies in the coming academic year.

“Through our partnership with USAid, CHED is honored to support Burmese youth in higher education,” said CHED Chairman J. Prospero De Vera III. “We continuously advocate for equitable, quality, and inclusive higher education, aiming to empower students from all backgrounds.Together, we’re breaking

NBI or PNP for clearance, go to PhilHealth, BIR, all these agencies require different sets of parameters. It’s crazy,” Gutierrez said. With eGov app, the DICT hopes that Filipinos would be able to access government services more conveniently.

“Once Juan de La Cruz is able to access any government, he automatically sends his information to all government agencies. Of course, we are taking into account the fact that we have the data privacy law,” he added.

The eGov app can be downloaded for free in app stores Apple App Store and Google play in mobile or tablets. One can also download the app in multiple devices using the same login credentials.

barriers, building bridges, and driving transformative change through higher education.”

The USAid’s Diversity and Inclusion Scholarship Program will provide quality educational opportunities for young community leaders in Burma, especially those from marginalized and vulnerable groups.The program also offers grants to help higher education institutions in Asia strengthen their capacity to support international students by boosting institutional partnerships, growing regional networks, and expanding community service-oriented activities.

“This scholarship program is a strategic investment in higher education institutions in the region,” said USAid Assistant Administrator for Asia Michael Schiffer.“It recognizes our shared commitment to education as a catalyst for positive change in Burma and around the world.”

www.businessmirror.com.ph

DA urged to implement ‘calculated’ rice-related measures as inflation reaches 3.4 percent in Feb

By Jovee Marie N. Dela Cruz  @joveemarie

HOUSE Committee on Ways and Means

chairman and Albay Rep. Joey Sarte

Salceda on Tuesday called on the Department of Agriculture (DA) to implement a laser-focused approach to rice-related interventions, including the recalibration of the Rice Competitiveness Enhancement Fund (RCEF), but cautioned against an immediate increase in importation.

Salceda issued the statement as inflation rate in the Philippines reached 3.4 percent in February 2024. This marks an increase from 2.8 percent in January 2024 and a decrease from the 8.6 percent recorded in February last year. Salceda pointed out that while vegetable, corn, utility, and sugar prices experienced declines, rice saw a substantial year-on-year increase of 23.7 percent, with a noteworthy month-on-month inflation of 1.0 percent.

“One takeaway: It’s all about rice. Vegetable prices are down. Corn prices are down. On the aggregate, utility bills are down versus last year. Even sugar prices are down on a year-on-year basis,” he said. Salceda stressed the importance of a highly targeted strategy for interventions related to rice, advising against an immediate surge in importation. He explained that the upcoming first harvest season in April and the potential easing of political pressures from the Indian elections in May could lead to stabilized rice prices by June.

“Increasing importation at this time might not necessarily be the correct approach. The first harvest season of the year begins around April. The Indian elections could take place around May, which means the political pressures that underlie the rice export ban in India could ease. So, by June, rice prices could actually stabilize,” he added.

Looking ahead, Salceda urged the DA to ensure that all post-harvest support is

readily available by April to address losses.

“Post-harvest losses amount to as much as 12–15 percent, and [Agriculture] Secretary [Francisco] Tiu-Laurel has been hyperfocused on dealing with this issue,” he said.

Salceda also stressed the importance of resolving logistics challenges at ports, farm-to-market roads, and potential supply bottlenecks, declaring the next 30 days as crucial and calling for a collective effort from all stakeholders.

“We must also ensure that logistics issues at the port, farm-to-market roads, and other potential supply bottlenecks are eased,” he added.

“This will be a crucial thirty days, so we need all hands on deck,” he added.

Enhance REGARDING the Rice Competitiveness Enhancement Fund (RCEF), which is set to conclude in 2025, Salceda highlighted the mandatory review slated for this year.

He strongly advocated for the extension and recalibration of the RCEF, directing its focus towards post-harvest facilities and farm inputs that directly enhance yield.

“The Rice Competitiveness Enhancement Fund ends in 2025, but there is a mandatory review that should be undertaken this year,” he said.

“Definitely, the RCEF should be not only extended but recalibrated towards postharvest facilities and farm inputs that provide a direct improvement in yield,” he added.

Salceda pointed out a current gap in the RCEF, lacking provisions for hybrid seeds.

With revenues approaching P30 billion instead of the initially envisioned P10 billion, he proposed that the excess P20 billion could now cover a broader spectrum of initiatives beyond financial assistance.

Under the Rice Tariffication Law, the RCEF allocates P10 billion to four component programs: mechanization (P5 billion), seeds (P3 billion), extension (P1 billion), and credit (P1 billion).

Rep. Tulfo pushes implementation of enhanced commodity discounts for elderly and PWDs

THE House of Representatives on Tuesday pressed implementing agencies to expedite the fulfillment of the commitment to provide a P500 monthly grocery discount for millions of senior citizens and persons with disabilities (PWD) by the end of March as the lower chamber is actively deliberating bills aimed at enhancing accessibility to maximum benefits for both groups.

Deputy Majority Leader Erwin T. Tulfo of ACT-CIS party list followed up on the Department of Trade and Industry’s (DTI) pledge to Speaker Ferdinand Martin G. Romualdez conveyed during a meeting the previous week, regarding the enhanced discount.

Currently set at P65 per week or P260 per month, the proposed increase would raise it to P125 per week or P500 per month.

Having attended the Speaker’s meeting with DTI Undersecretary Carolina Sanchez, Tulfo sought updates from the implementing agencies on the progress of the commitment.

Sanchez assured that the increase in the grocery discount for basic food items, meat, and agricultural products would be implemented by the end of the month.

“We have to have it quickly,” Tulfo said. Director Marcus N. Valdez of DTI’s Consumer Policy and Advocacy Bureau informed the committee that the DTI is now coordinating with the Department of Agriculture (DA) and the Department of Energy (DOE) for the implementation of the increased discount.

“We confirm the promise made last week and the timeline,” he said.

Meanwhile, Agriculture Assistant Secretary for Consumer Affairs and concurrent Legislative Affairs Genevieve E. VelicariaGuevarra informed the committee about scheduled public consultations on March 11 and 12 before the increased discount is rolled out.

Tulfo also inquired about the promise made by Philippine Health Insurance Corp. (PhilHealth) officials to Romualdez regarding the increase in the discount on hospital bills and professional fees from 30 percent to 50 percent.

He emphasized that PhilHealth, with its existing funds and government subsidies, can afford to shoulder 50 percent of the

hospitalization and professional fees, alleviating the financial burden on its members.

He said PhilHealth members, who are mostly employees, find it hard to shoulder 70 percent of the cost, given the present 30-percent subsidy rate.

Acknowledging the financial strain on PhilHealth members, Tulfo emphasized the need for the promised subsidy to ease the cost burden, particularly as many patients currently resort to borrowing money for medical expenses.

Legislative remedies

IN a move towards fostering a more just and streamlined system for the benefits afforded to senior citizens and PWDs, legislative remedies have been proposed to rectify existing disparities and enhance accessibility to maximum benefits for both groups.

The House Committee on Ways and Means and the House Committee on Senior Citizens filed bills on the alignment of senior citizen and PWD benefits, clarification on the applicability of discounts during promotional sales, enabling the use of the National Tax Allotment (NTA) for senior citizen and PWD programs, and the conversion of the National Council on Disability Affairs (NCDA) into a commission.

House Committee on Ways and Means chairman and Albay Rep. Joey Sarte Salceda said a crucial step towards ensuring parity in benefits for senior citizens and PWDs is the proposal to align their respective benefit structures.

He said the aim is not only to guarantee that both groups receive the full extent of available benefits but also to simplify the overall administration of these privileges. By harmonizing the benefits, the lawmaker said the management and administration of benefits for senior citizens and PWDs can be executed more efficiently.

Salceda also urged Congress to prioritize discussions on several proposals: House Bill No. 2095, House Bill No. 3641, House Bill No. 6615, House Bill No. 7558, and House Bill No. 9837. These bills advocate for the allocation of a portion of the National Tax Allotment (NTA) specifically for programs and projects benefiting PWDs and senior citizens. Jovee Marie N. Dela Cruz

Robin, Risa clash over move to hold Quiboloy in contempt

By Butch Fernandez @butchfBM

SENATOR Robinhood “Robin”

C. Padilla on Tuesday objected to the move of Senator Risa N. Hontiveros to cite religious leader Pastor Apollo C. Quiboloy in contempt, for not attending hearings of the Senate Committee on Women, Children, Family Relations and Gender Equality.

Padilla humbly expressed his objection after Hontiveros made a ruling to cite Quiboloy in contempt and requested the issuance of the Senate President to order Quiboloy’s arrest so he may be brought to the Senate to testify.

Ipagpaumanhin na po ninyo, akin pong tinututulan ang naging pasya na ma-contempt si Pastor Quiboloy. With all due respect [Please excuse me but I object to the decision to cite Quiboloy in contempt. With all due respect],” Padilla said.

In turn, Hontiveros said

Modern weapons to be tested in ‘Balikatan’ ’24

THE Armed Forces of the Philippines (AFP) will be having a chance to test some of its newly acquired advanced weaponry in this year’s “Balikatan” Exercise, which is scheduled from April 22 to May 8. This is a possibility after Balikatan executive agent Col. Michael Logico said that an “integrated air missile defense exercise” in Central Luzon will be among the highlights of the annual military exercise between Filipino and American troops.

“Yes, we will be utilizing our own newly-acquired weapon systems from AFP Modernization [Program] and we are going to test the interoperability between our weapon systems and that of the United States,” the AFP official said when asked if the SPYDER air defense missile system will be utilized for this.

And when asked if there will be live-fire scenarios for these drills, Logico said there would be “both live and virtual.”

Also to be tested are the “command and control dimensions” of these weapon systems.

Logico declined to give specific numbers of participants for the exercise, saying they are still consolidating the numbers.

“Right now we are still consolidating the numbers, we will be giving you the exact number siguro in the coming weeks leading up to execution,” he added.

This year’s Balikatan will take place from April 22 to May 8.

SPYDER is short for Surface-to-Air Python and Derby mobile air-defense missiles. It is the primary weapon of the PAF’s 960th Air and Missile Defense Group.

SPYDER is a mobile air and missile defense system designed to protect critical installations, land-based fixed assets, mobile platforms, and friendly forces from aerial threats, such as combat aircraft, attack helicopters, unmanned air vehicles, incoming missiles, guided munitions, and rockets.

It is also capable of neutralizing surveillance threats.

SPYDER is an acquisition project under Horizon 2 of the AFP Modernization Program.

The first two SPYDER batteries were delivered on Sept. 24 and 29, 2022 respectively, while the third battery is expected to be delivered on May 24, 2024.

The contract is worth P6,846,750,000 and includes integrated logistics support, a simulator, a missile repair facility, and air defense systems missile training for personnel. Rex Anthony Naval

Padilla’s objection was “well-noted,” adding Section 18 of the Rules of Procedure governing inquiries in aid of legislation allows majority of all members of the committee to “reverse or modify” the order of contempt within seven days.

Earlier during the hearing, Hontiveros cited Section 18 to issue her ruling citing Quiboloy in contempt, “with the concurrence of one member here with me.”

In her opening statement at the Senate hearing, Hontiveros noted: “There has been so much

noise over the past few days. Bakit nga ba pinapatawag ang isang makapangyarihang religious leader dito sa Senado?” the senator asked, adding, “Korte ba ang committee on women para pag-usapan dito ang mga bintang laban kay Apollo Quiboloy?” She added: “ Sino ba itong si ‘Hontivirus’—opo, medyo madami po na naman ang tumatawag sa atın nito sa social media simula ng imbestigasyong ito—para ipatawag ang, para sa kanyang mga followers, ‘glorified Son of God’?

Moreover, the senator also recalled that “ang sabi po ni Ginoong Quiboloy at ang kanyang mga tagapagsalita, nilabag natin ang karapatan niya sa due process. Sabi niya, sa proposed Senate resolution pa lang daw, pinagbintangan na daw siya ng kung anu-ano.”

At the same time, she conveyed her “wish to remind the Pastor, and those who speak for him, that written and oral reports of legislators in the course of our duties are protected speech and can be incendiary and provocative. Sabi nga ng Supreme Court sa kaso ng Osmeña vs. Pendatun, “Its purpose is to enable and encourage a representative of the public to discharge his public trust with firmness and success for it is indispensably necessary that he should enjoy the fullest liberty

of speech, and that he should be protected from the resentment of every one, however, powerful, to whom the exercise of that liberty may occasion offense.”

Tulfo to Quiboloy: Don’t be absent please

AT the House of Representatives, Deputy Majority Leader Erwin Tulfo and Assistant Majority Leader Raul Angelo Bongalon cautioned Quiboloy that his absence from the March 12 Committee on Legislative Franchises hearing may lead to serious repercussions, akin to actions taken by the Senate.

Without preempting the committee’s decision, the lawmakers stressed the possibility of contempt measures and an arrest order if Quiboloy fails to attend.

“We don’t want to preempt the committee’s decision because usually when the committee invites you with a formal invitation and you fail to appear, they will send you a subpoena. If you don’t respond to the subpoena, it’s like insulting the committee, I mean the authority,” Tulfo said.  “So probably the same thing will happen if he doesn’t show up and ignores the subpoena; then there will be a problem,” Tulfo warned.

With Jovee Marie N. Dela Cruz

TBy Samuel P. Medenilla @sam_medenilla

HE Commission on Elections (Comelec) said Tuesday that preparations for the upcoming national and local polls and the first ever Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) parliamentary elections next year have already shifted into high gear.

In an interview with reporters at the National University, Comelec Chairman George M. Garcia said they already made progress in their procurement needs for the Automated Election System (AES), which they will use for the upcoming elections.

“Again, we already awarded [the contract] for the software and machines. We were also able to conduct the procurement for our transmission [system] and we will be holding the procurement for the system we will use for our internet voting,” the poll chief said in Filipino.

He said they would soon be customizing the 110,000 voting machines for the scheduled polls next year.

As of March 4, Comelec also reported a total of 910,918 people have participated in its ongoing voter registration. This is about a third of the 3 million new voters the poll body is targeting to register before the 2025 National

and Local Elections (NLE).

“Our preparations are still ongoing, but at the same time it has reached its ‘peak’ even if we are still in the first part of 2024,” Garcia said.  BARMM elections

GARCIA, however, pointed out that Comelec is facing a greater challenge in its preparations for next year compared to previous election years due to the BARMM parliamentary polls.

He noted they would be deploying two ballots in BARMM. The first, he explained, will contain the candidates for NLE, while the other ballot will include the parliament members and regional political parties.

“I will admit, we have to make an extra effort and [face] a big challenge in holding the Bangsamoro Parliamentary Election (BPE) since it will be the first time and it will coincide with many other elections,” Garcia said.

Despite this challenge, the poll chief is confident the Comelec can successfully hold the BPE with the help of the Armed Forces of the Philippines (AFP), Philippine National Police (PNP) and other concerned government agencies.

Premature campaigning ban  GARCIA also announced they will be enforcing a premature campaigning ban, which they first implemented

By Joel R. San Juan @jrsanjuan1573

THE Supreme Court (SC) has declared null and void the provision in 15 traffic ordinances enacted by local government units (LGU) in Metro Manila allowing the issuance of a traffic violation receipts, also known as the Ordinance Violation Receipts (OVR), to erring drivers as well as the confiscation of their licenses through their traffic enforcers.

In a 41-page decision penned by Associate Justice Benjamin Caguioa, the Court en banc granted the petition for review filed by various transport groups seeking the reversal of the Court of Appeals’ (CA) decision dated December 7, 2012 and resolution dated October 3, 2013, which declared the assailed ordinances as legal and constitutional.

The Court held that the said ordinances are invalid for violation of Republic Act No. 7924 or the Metro Manila Development Authority (MMDA) law, which gives the agency the exclusive power to come up with policies concerning traffic in the metropolis and to coordinate and regulate the implementation of all programs and projects concerning traffic.  Section 5 of the said law mandates

the MMDA to “install and administer single ticketing system…and confiscate and suspend or revoke driver’s licenses in the enforcement of such traffic laws and regulations…”

“All told, the Court thus declares as invalid the common provision in the said traffic codes or ordinances of the LGUs in Metro Manila empowering each of them to issue OVRs to erring drivers and motorists. The other provisions of the traffic codes or ordinances remain valid and unaffected by this decision,” the SC declared.

In line with this ruling, the Court issued a permanent injunction enjoining the cities of Makati, Taguig, Paranaque, Pasay, Quezon City, San Juan, Navotas, Las Piñas, Pasig, Muntinlupa, Valenzuela, Caloocan, Manila, the municipality of Pateros from further issuing OVRs and confiscating licenses through their own traffic enforcers unless they are deputized by the MMDA.

The Court directed all LGUs to comply with the Joint Metro Traffic Circular No. 12-01 issued in 2012 by the MMDA which sets the guidelines for the implementation of the Uniform Ticketing System in Metro Manila.

Under the Joint Circular, the Uniform Ticketing System shall be implemented within the 16 cities and one municipality in Metro Manila.

DFA CALLS CHINESE EMBASSY OFFICIAL OVER WPS COLLISION

Continued from A18

“Despite numerous warning, the Philippine Coast guard 4407 violated the collision regulation with unprofessional and hazardous approach, and purposefully engaged in a mild collision with China Coast guard 21555 that was proceeding on its course in a normal manner,” the CCG said.

The Philippines, it added, “must bear responsibility.”

“The Philippines broke promises, provoked with extortion tactics, sensationalized the story, and keeps sabotaging the peace and stability of South China Sea,” the CCG said.

Itstressedthatitmerelyconducted “strict regulatory actions,” which followed “legal protocols based on professional procedures” when it stop the two Philippine Coast Guard and two supply vessels from entering the Ayungin Shoal.

during the 2023 Barangay and Sangguniang Kabataan Elections (BSKE), next year.

He said they intend to implement the measure after the filing of Certificate of Candidacy (COC) in October.

“I am sorry, but the Comelec will do its constitutional duty to enforce and administer election laws,” Garcia said.

This despite Republic Act No. 9369 or the Poll Automation Law stating that a person who filed his or her COC will only be covered by election prohibitions during the start of the campaign period.

The Supreme Court affirmed the said provisions in its decision on Peñera vs Comelec case, which led to removal of premature campaigning from the list of election offences.

“Comelec will proceed with its plan [on premature campaigning] and if we are stopped by the Supreme Court from doing so, we will respect its decision,” Garcia said.

Last year, the Comelec issued 7,500 show cause orders to candidates for allegedly engaging in premature campaigning. It also stopped the proclamation of 253 winning candidates due to their pending premature campaigning cases.

“This shows we are serious [against premature campaigning]. It is not just for show,” Garcia said.

Foreign envoys score China FOREIGN ambassadors and embassies based in Manila immediately reacted to the incident, most of them expressing concern over China’s actions:

MaryKay Carlson, US Ambassador

“WE strongly condemn the PRC’s dangerous maneuvers at Ayungin/ Second Thomas Shoal, which endangered lives, resulted in injuries and damaged Philippine Coast Guard vessels in the Philippine EEZ. The US stands with the Philippines and proponents of international law in support of a Free and Open Indo-Pacific.”

Laure Beaufils, UK Ambassador

“UK condemns today’s unsafe actions by Chinese vessels against the philippines in Second Thomas SHoal, which resulted in Philippine injuries. UK reiterates its opposition to any action which raises tensions and endanger lives, threatening regional peace and stability. We call for adherence to Unclos.”

Japanese Embassy in Manila

“JAPAN reiterates its grave concern on the repeated dangerous actions in the SCS including the recent use of water cannon by CCG which resulted in FIlipino injuries and a collision. Japan will continue to stand with the Philippines and cooperate with like-minded countries to maintain

the peace and stability in the region.”

HK Yu PSM, Australia ambassador “DISCUSSING peace and stability at the Asean-Australia Summit. Australia shares Philippines’ concerns about dangerous actions by China’s vessels at Second Thomas Shoal today. We call for restraint and respect for international law, particularly Unclos.”

Marielle Geraedts, The Netherlands Ambassador

“CONCERNED about the incidents of today in which Philippine vessels were blocked and harassed. We reiterate the importance of abiding by international law, in particular Unclos and the 2016 arbitral award.”

New Zealand Embassy

“NEW Zealand is deeply concerned at dangerous actions today by Chinese vessels towards the Philippines at Second Thomas Shoal. Water cannons and contact by vessels threaten life at sea. Peaceful resolution of maritime disputes in accordance with UNCLOS is fundamental to regional stability.”

Juha Pyykko, Finland Ambassador

“AGAIN, today, for Finland, I reiterate the call for respect for international law and align myself with the statement of the EU Ambassador.”

Ambassador Luc Veron, Head, EU Delegation

“TROUBLED by today’s pattern of dangerous maneuvers and blocking from Chinese Coast Guard vessels and Maritime Militia targeting Philippine vessels engaged in crucial resupply missions.”

“The EU reiterates the call for all parties abide by the legally binding 2016 Arbitration Award and internationallaw to peacefully resolve disputes, guaranteeing safety in maritime waters.”

Andreas Pfaffernoschke, Germany Ambassador

“GERMANY is concerned by today’s incidents involving dangerous maneuvers against Philippine Coast Guard vessels engaged in a resupply mission within the Philippine exclusive economic zone. Germany calls on all parties to resolve disputes peacefully based on Unclos and reiterates the call to respect the legally binding 2016 Arbitral Award.”

Achieving South China Sea Code of Conduct agreement will take time, says Singapore PM

By Rod Mcguirk The Associated Press

MELBOURNE, Australia—Southeast Asian countries’ quest to reach agreement with China on a Code of Conduct in the contested South China Sea will take time, with difficult issues yet to be resolved despite recent efforts to accelerate the process, Singapore’s prime minister said Tuesday at a regional summit.

China’s increasing military assertiveness in the busy waterway toward neighbors with competing territorial claims has been high on the agenda of the Association of Southeast Asian Nations summit. The three-day summit, which is being hosted in Melbourne to mark 50 years since Australia became Asean’s first external partner, ends Wednesday. Leaders of the 10-nation bloc hope a Code of Conduct with China would be key to reducing the risk of naval confrontations.

Singapore Prime Minister Lee Hsien Loong said a first draft of the code had been written, but the final document would take time.

“They have reached a point, I think, of a first complete readthrough of the Code of Conduct, but to negotiate and to settle the code, I believe would take some time,” Lee told reporters.

“The issues are not easy to resolve and, really, negotiating of a Code of Conduct inevitably raises issues of what the ultimate outcomes are going to be, and therefore, because the ultimate answers are difficult, so too negotiating the code will take quite some time,” Lee said.

In the latest dangerous incident, Chinese coast guard ships blocked Philippine vessels off a disputed South China Sea shoal on Tuesday, causing a minor collision, the Philippine coast guard said.

Philippine security officials have accused the Chinese coast guard and suspected militia ships

of blocking Philippine vessels and using water cannons and a military-grade laser that temporarily blinded some Filipino crewmen in a series of high-seas hostilities last year. Leaders agreed at an Asean

summit in Indonesia last September to accelerate the negotiation process with a goal of finalizing a code within three years. That summit was joined by US Vice President Kamala Harris, Chinese Prime Minister Li Qiang and Russian

China sets economic growth target of around 5% but acknowledges it will not be easy to achieve

By Ken Moritsugu & Elaine Kurtenbach The Associated Press

BEIJING—China aims to achieve 5 percent economic growth this year, Premier Li Qiang said Tuesday, acknowledging that it will be a challenging goal in difficult times.

In his address to the annual session of the National People’s Congress, Li outlined plans to boost spending on developing advanced technology, fortifying China’s military and supporting the economy, among many other longstanding goals. But there was no big package of stimulus to help boost markets and reassure worried investors.

Li, presenting an annual report on the past year and future plans, said the government would continue with a “pro-active fiscal policy and prudent monetary policy,” suggesting no major change in the leadership’s approach to the economy.

He did unveil a plan to boost growth by issuing long-term bonds over the next several years, starting with 1 trillion yuan (about $139 billion) this year. The money would be spent to implement “major national strategies” and fortify security “in key areas.”

Li said the government plans a “new development model” for the housing market, including building government-subsidized housing in a bid to ease a prolonged real estate slump that has been a major drag on the economy. That appeared to confirm reports that authorities plan to use public funds to buy up some of China’s

legions of unoccupied apartments and turn them into affordable housing.

“The foundation for China’s sustained economic recovery is not yet stable, with insufficient effective demand, overcapacity in some industries, weak social expectations, and still many risks and hidden dangers,” Li told delegates to the annual session of the congress, China’s ceremonial legislature, in Beijing’s majestic Great Hall of the People, adjacent to Tiananmen Square.

The government released a draft budget that included 1.67 trillion yuan ($231 billion) in defense spending—a rise of 7.2 percent that matches the pace of increase in 2023 and reflects a continued focus on security as well as the economy.

China’s economy grew at a 5.2 percent pace last year, but that was on top of just 3 percent annual growth rate in 2022, when millions of people were locked down for weeks and some businesses were ordered to close as the country endured the worst disruptions from the Covid-19 pandemic. Replicating the same growth rate this year will be more difficult, because the economy is starting from a higher base.

“Achieving this year’s targets will not be easy,” Li said, referring not only to economic growth and other goals including raising incomes, creating 12 million jobs and making the economy more energy efficient in pursuit of climate goals.

China has set a 2.5 percent goal for reducing its energy consumption, after having failed to

meet its target for a 2 percent cut in 2023.

Xi Jinping, China’s most powerful leader in decades, heads the party and has installed loyalists like Li in top posts to strengthen its grip on the economy and society. Xi, 70, is in his third five-year term as party general secretary and may hold that post for life.

The meetings of the national congress run for about a week and are China’s biggest political events of the year. The congress only endorses policies already set by top leaders, but it provides a platform to showcase the party’s accomplishments and to build support for its aims.

Leaders have been emphasizing the need to raise consumer spending to help drive the economy. But the consumption-led recovery it was counting on after anti-pandemic controls ended in late 2022 has faded and most forecasts are for growth to slow this year.

Falling housing prices and worries over jobs have left many families either reluctant or unable to spend more. China’s real estate market is in crisis after many developers defaulted on their debts following a crackdown on excess borrowing.

Li said the government would defuse such risks and provide support to local governments whose finances have been strained by high spending on anti-virus measures and lower tax revenues due to the downturn in land right sales.

China should not lose sight of “worst case scenarios,” Li said.

But he reiterated calls for

greater confidence despite China’s challenges, noting the country’s vast market of about 1.4 billion people, its advanced manufacturing capacity and its massive workforce.

“The underlying trend of economic recovery and long-term growth remains unchanged and will not change,” he said. “So we must be more confident and more assured of ourselves.”

Among the dozens of projects Li listed in his roughly 30-page Chinese-language report—55 pages in English—China plans a program this year for “worryfree consumption” to encourage people to spend more. Households will be encouraged to trade in old cars and appliances and buy new ones.

Li also said the government would focus on employment, a pressing concern for the many people whose jobs became more precarious during the pandemic and many young Chinese who are struggling to find work after leaving school. Plans include unemployment insurance and other social support, loans and subsidies to companies able to create many jobs.

The government also plans to provide support for local governments facing “economic difficulty,” he said, suggesting that Beijing will limit damage from debts of cash-strapped cities and regions that have been rising sharply.

The Associated Press writer Huizhong Wu and researchers Yu Bing and Chen Wanqing contributed to the report.

Ukraine claims it has sunk another Russian warship in Black Sea using high-tech drones

KBy Illia Novikov

The Associated Press

YIV, Ukraine—Ukraine claimed Tuesday it has sunk another Russian warship in the Black Sea using high-tech sea drones as Kyiv’s forces continue to take aim at targets deep behind the war’s front line. Russian authorities did not confirm the claim.

The Ukrainian military intelligence agency said a special operations unit destroyed the large

patrol ship Sergey Kotov overnight with Magura V5 uncrewed vessels that are designed and built in Ukraine and laden with explosives. The patrol ship, which Ukraine said was hit near the Kerch Strait, reportedly can carry cruise missiles and around 60 crewmembers.

The Ukrainian claim could not immediately be independently verified, and disinformation has been a feature of the fighting that broke out after Russia’s full-scale invasion of

its neighbor in February 2022.

Kyiv’s forces are struggling to keep the better-provisioned Russian army at bay at some points along the largely static 1,500-kilometer (930-mile) front line, but are also taking aim at targets deep beyond the battlefield.

Last month, Ukraine claimed it twice sank Russian warships using drones. On February 1, it claimed to have sunk the Russian missilearmed corvette Ivanovets, and on February 14 it said it destroyed

Foreign Minister Sergey Lavrov.

Asean expects the code will reflect international norms, principles and rules, refer to international law, and aim to achieve a “stable, safe and peaceful South China Sea,” according to documents released by Indonesia’s Foreign Ministry.

Philippine President Ferdinand Marcos Jr. says the dispute’s legal status was made clear by the Philippines’ victory over China in a 2016 arbitration ruling in The Hague, Netherlands, that invalidated Beijing’s vast territorial claims in the South China Sea. China did not accept the ruling.

“It is unfortunate that despite the clarity provided by international law, provocative, unilateral and illegal actions continue to infringe upon our sovereignty, our sovereign rights and jurisdictions,” Marcos said Monday.

Australia and the Philippines have urged regional neighbors to stand together more strongly in upholding the rule of law in the

South China Sea, where China has constructed garrisons on several artificial islands to fortify its claims.

Malaysian Prime Minister Anwar Ibrahim, who has resisted pressure to take a side in the regional power struggle, said on Monday, “We do not have a problem with China.”

Nine Asean leaders and East Timorese Prime Minister Xanana Gusmão were officially welcomed to the summit on Tuesday with a traditional Indigenous smoking ceremony that involves burning leaves.

Asean has agreed in principle to admit East Timor and has granted it observer status. Myanmar, which is the 10th Asean member, was denied political representation at the meeting over its failure to stem violence since a military junta seized control in 2021.

Gusmão told reporters on Tuesday he wanted to see Asean do more to restore peace and democracy in Myanmar.

Strikes along Israel-Lebanon border kill 4 people as US envoy visits Beirut to press for cease-fire

By Bassem Mroue & Melanie Lidman The Associated Press

BEIRUT—An Israeli airstrike in southern Lebanon killed three paramedics from the militant group Hezbollah on Monday, state media said, hours after a missile strike blamed on the militants killed at least one foreign worker in northern Israel.

The deadly violence Monday came as a senior US envoy visited Beirut and warned that a Gaza truce wouldn’t necessarily apply to conflict along the Lebanon-Israel border.

Amos Hochstein urged the parties to reach a lasting cease-fire at the border following meetings Monday with Lebanese leaders.

His comments came hours after the deputy leader of Lebanon’s militant group Hamas, Naim Kassem, said the only way to restore calm along the border is to end the Israel-Hamas war in the Gaza Strip.

Since the Israel-Hamas war started, Hezbollah has been exchanging fire with Israel almost daily, displacing thousands of people and spiking fear that the conflict may spread through the region. In northern Israel, 60,000 people have evacuated, the Israeli government says.

“People won’t come back anytime soon, they’re scared, it’s dangerous,” Haim Menus, 70, said Monday while buying hardware at one of the rare stores open in the nearly abandoned northern Israeli town of Kiryat Shmona. He is one of the few who have remained, working curtailed hours at a bakery.

“An anti-tank missile could come at any time,” Menus said.

Moments later, an anti-tank missile struck a field in the nearby community of Margaliot as sirens blared, killing one Indian worker and injuring seven other foreign workers from India andThailand, according the Israel Rescue Services and the Israeli army. Paramedics evacuated the injured—two of them in serious condition—to hospitals via ambulance and helicopter.

The Israeli military said they struck the source of the launches as well as additional Hezbollah military infrastructure in southern Lebanon.

the Caesar Kunikov landing ship. Russian officials did not confirm those claims.

Kyiv officials say some 20 percent of Russian missile attacks on Ukraine are launched from the Black Sea, and hitting Russian ships there is embarrassing for Moscow.

Almost a year ago, the flagship of Russia’s Black Sea fleet, the Moskva guided-missile cruiser, sank after it was heavily damaged in a missile attack.

In Lebanon, the state-run National News Agency said that one of the Israeli airstrikes killed three paramedics with Hezbollah’s Islamic Health Society in the border village of Oddaiseh.

Meanwhile, Hezbollah said its fighters aborted two infiltration attempts the night before by Israeli troops into a border area in southern Lebanon. It also said that its fighters carried out three attacks targeting Israeli posts along the border.

In Beirut, Hochstein, a senior adviser to US President Joe Biden, began his talks by meeting Lebanon’s Parliament Speaker Nabih Berri, a Hezbollah ally. He later met with caretaker Prime Minister Najib Mikati and the army commander, Gen. Joseph Aoun.

“The United States remains committed to advancing lasting security solutions achieved through diplomatic process,” Hochstein told reporters after he met Berri. He said such a move would allow tens of thousands of Lebanese and Israelis who were displaced by the conflict “to safely return” to their homes.

Hochstein’s visit came as the US, Qatar and Egypt have been trying for weeks to broker a cease-fire between Israel and Hamas and to convince the Palestinian militant group to release some of the scores of hostages it is still holding since the Oct. 7 attack that sparked the war.

Since the Israel-Hamas war began, more than 215 Hezbollah fighters and nearly 40 civilians were killed on the Lebanese side while in Israel, nine soldiers and 10 civilians were left dead in the attacks.

“I’m mindful that my arrival comes on the heels of a tense few weeks on both sides of the border,” Hochstein said. “An escalation will certainly not help Lebanon rebuild and advance forward at this critical time in Lebanon’s history,” he added in an apparent reference to Lebanon’s economic crisis since 2019.

“A temporary cease-fire is not enough. A limited war is not containable,”Hochstein said.

Asked if a cease-fire in the Gaza Strip would include Lebanon, he said it wouldn’t necessarily be the case “that when you have a cease-fire in Gaza, it automatically extends.

That is why we are here today to be able to have a conversation and discussions” on the situation in Lebanon.

Israeli officials have threatened a wider war in Lebanon if Hezbollah does not withdraw its elite fighters north of the Litani River as stipulated in a 2006 truce that ended a 34-day Israel-Hezbollah war.

Western diplomats have brought forward a series of proposals for a cessation of hostilities between Israel and Hezbollah, most of which would hinge on Hezbollah moving its forces 7-10 kilometers (about 4-6 miles) away from the border.

Kassem, Hezbollah’s deputy leader, blasted the United States in a speech Monday during a conference held in the group’s stronghold south of Beirut attended by Muslim clerics from several regional states. He blamed Washington for using its veto power three times to prevent resolutions at the UN Security Council to end the war in Gaza.

“We have said it clearly that whoever wants to be a mediator should mediate to stop the aggression,” Kassem said in his speech. He added that those who don’t want the war to expand in the region should deal with the cause “which is the brutal and criminal aggression by America and Israel against Gaza.”

“Stop the aggression on Gaza and the war will stop in the region,” he said.

Lidman reported from Kiryat Shmona, Israel.

North Korea threatens to take military moves in response to US-South Korean annual drills

By Hyung-Jin Kim The Associated Press

SEOUL, South Korea—North Korea called the ongoing South Korean-US military drills a plot to invade the country, as it threatened Tuesday to take unspecified “responsible” military steps in response.

The North’s warning came a day after the South Korean and US forces kicked off their annual computer-simulated command post training and a variety of field exercises for an 11-day run. This year’s drills were to involve 48 field exercises, twice the number conducted last year.

In a statement carried by state media, the North’s Defense Ministry said it “strongly denounces the reckless military drills of the US and (South Korea) for getting more

undisguised in their military threat to a sovereign state and attempt for invading it.”

An unidentified ministry spokesperson said North Korea’s military will “continue to watch the adventurist acts of the enemies and conduct responsible military activities to strongly control the unstable security environment on the Korean Peninsula.”

The spokesperson didn’t say what measures North Korea would take, but observers say North Korea will likely carry out missile tests or other steps to bolster its war capability.

South Korea’s Defense Ministry said later Tuesday that its drills with the United States is a regular, defensive training. A ministry statement said South Korea will make an overwhelming response if North Korea launches direct provocations against it during the drills.

US Army Apache helicopters take off at Camp Humphreys in Pyeongtaek, South Korea on Monday, March 4, 2024. North Korea called the ongoing South Korean-US military drills a plot to invade the country, as it threatened Tuesday to take unspecified “responsible” military steps in response. KWON JUNEWOO/YONHAP VIA AP

North Korea views its rivals’ major military drills as invasion rehearsals, though South Korean and US officials have repeatedly said they have no intentions

of attacking the North. North Korea has previously reacted to South Korean-US exercises with launches of a barrage of missiles into the sea.

South Korea’s Joint Chiefs of Staff said last week that this year’s military drills with the United States were designed to neutralize North Korean nuclear threats and would involve live-firing, bombing, air assault and missile interception drills.

Concerns about North Korea’s nuclear program have grown in the past two years, as the North has test-launched missiles at a record pace and openly threatened to use nuclear weapons preemptively. The US and South Korea have expanded their military exercises and increased the deployment of powerful US military assets like aircraft carriers and nuclear-capable bombers in response.

This year, North Korea performed six rounds of missile tests and artillery firing drills. North Korean leader Kim Jong Un also declared his country won’t seek reconciliation with South Korea and vowed

to scrap the country’s long-running goal of peaceful unification with South Korea. Kim said North Korea would take a more aggressive military posture along the disputed sea boundary with South Korea.

Experts say North Korea could believe a bigger weapons arsenal would provide it with a greater leverage in future diplomacy with the United States. They say North Korea is desperate to win an international recognition as a nuclear state, a status that it would think helps it win relief of US-led economic sanctions.

North Korea is expected to further dial up tensions with more missile tests and warlike rhetoric this year as the US and South Korea head into major elections.

North Korea may stage limited provocation near the tense border with South Korea this year, experts say.

Challenges plague PHL fisheries sector as growth target remains elusive

MORE than a decade ago, the government considered a modest increase in fisheries production a feasible target. The former chief of the Bureau of Fisheries and Aquatic Resoures (BFAR) in 2008 told this newspaper that the agency attached to the Department of Agriculture (DA) expected fisheries output to increase by around 7 percent. The only major threat to the target seen by the government at the time were natural disasters, such as typhoons, which could destroy fish pens and small- and medium-sized fishing vessels.

t h at t he total volu me of f i sheries product ion i n 2023 decl i ned by nea rly 2 percent to 4.26 MMT, f rom 4. 3 4 MMT i n 2022. PSA noted dec reases i n t he catc h of commerc i al, ma ri ne, mu n ic ipal f i sheries, and i nland f i sheries subsectors and t h at only aqu ac u lt ure repor ted an i nc rement i n product ion.

A combination of factors led to the current state of the countr y’s fisheries subsector Apart from natural calamities, policies such as fishing bans and the utilization of harmful fishing equipment have had an impact on the catch of fishermen. Furthermore, the proliferation of illegal, unregulated, and unreported (IUU) fishing practices has intensified the challenges faced by our local fishermen.

To stem the tide against illegal and overfishing and protect the countr y’s remaining marine and aquatic resources, the Philippine government submitted Manila’s ratification of the World Trade Organization Fisheries Subsidies Agreement (FSA). The Philippines is the 70th member to accede to the FSA, which aims to safeguard the world’s depleting fish stocks and curb harmful subsidies. (See, “PHL accedes to WTO accord against harmful fish subsidies,” BusinessMirror , February 29, 2024). The countr y’s Instrument of Ratification was submitted to WTO Director-General Ngozi Okonjo-Iweala at the 13th WTO Ministerial Conference (MC13) in Abu Dhabi on Februar y 27.

Article 3.1 of the Agreement on Fisheries Subsidies Ministerial Decision provides that “no member shall grant or maintain any subsidy to a vessel or operator engaged in illegal, unreported and unregulated fishing or fishing related activities in support of IUU fishing.” It also indicates that no member will grant or maintain subsidies for fishing or fishing-related activities for an overfished stock.

For the fishing pact to enter into force, two-thirds or 110 of WTO members must formally accept the Protocol of the Agreement on Fisheries Subsidies by depositing an instrument of acceptance” with the intergovernmental organization. The WTO needs 40 more countries to ratify and formally accept the agreement before it goes into effect. Countries that rely on their marine resources for food would have to wait a little longer before they can tap the FSA to protect their fish stocks.

This even though negotiations on removing harmful subsidies at the WTO were conducted for more than two decades. The world has already missed the 2020 deadline for eliminating IUU subsidies and for prohibiting certain forms of fisheries subsidies that contribute to overcapacity and overfishing under the Sustainable Development Goals of the United Nations. We hope it would not take another 20 years for the WTO agreement to come into force and arrest the decline in the world’s marine resources.

The railway connection

TMark Villar

THE BUILDER

HE phenomenon of fast urbanization in Asian cities, such as Metro Manila, is most vividly illustrated by the presence of towering skyscrapers, extensive networks of toll roads, stateof-the-art airports, and efficient high-speed rail services.

A growing population in these urban cities, however has created many challenges to local officials. The continuous migration of workers from the countr yside to metropolises, the spike in vehicle sales and restricted land spaces have all contributed to traffic jams.

Metro traffic per se is not bad—it reflects increased economic activities and an active working class with purchasing power that confirms the nation’s high level of employment rate. But left unresolved, our traffic jam can lead to an urban decay and chaos, and negate economic progress.

In their quest to address urban g ridlock, gover nments and pol icymakers make diligent efforts to identify effective solutions. T hey actively promote the construction of toll roads, alternative highways, and rail networks by engaging private companies. Additionally, they implement decongestion policies by offering fiscal incentives to businesses that establish themselves outside of the urban centers.

Mass transportation, of course, holds the key to untangle the gridlock. The Philippines is moving in this direction by building and expanding rail networks that can move

more people faster to their destination and, hopefully, discourage private vehicles from the roads in favor of train—like in Hong Kong, Tokyo and Singapore. For one, I’m glad to learn that the government is proceeding well with the construction and funding of the nation’s first subway train network. The Department Finance expects to finalize a P55.7-billion (150 billion yen) loan tranche agreement with Japan to fund the construction of the Metro Manila Subway Project by March 2024. I have taken a personal interest on this project. I witnessed back early last year when President Ferdinand Marcos Jr launched the Metro Manila Subway project’s tunnel boring machine. I appreciated back then all the efforts of President Marcos to push through with the administration’s Build Better More Program.

I was also flattered when President Marcos recognized my modest contribution to the project. “Senator Mark Villar has played a special role for us to come to this day as he was the former Secretar y of the Department of Public Works and had a big hand in getting this project going and keeping it going so that we could

FBy Tom Maloney & Annie Massa

OR the first time in more than nine months, Elon Musk is no longer the world’s richest person.

Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla Inc. tumbled 7.2 percent on Monday. Musk now has a net worth of $197.7 billion; Bezos’ fortune is $200.3 billion.

In their quest to address urban gridlock, governments and policymakers make diligent efforts to identify effective solutions. They actively promote the construction of toll roads, alternative highways, and rail networks by engaging private companies. Additionally, they implement decongestion policies by offering fiscal incentives to businesses that establish themselves outside of the urban centers.

continue it until its final fruition,” said President Marcos. Dubbed “the project of the centur y,” the underground rail line is expected to ser ve 370,000 passengers daily in its first year of full operations. Once completed and fully operational, the Metro Manila Subway Project will have 17 stations, including one at the Ninoy Aquino International A ir port Terminal 3

The construction of the rail line, especially the section from Valenzuela to North Avenue, is in full swing. The Department of Transportation (DOTr) now expects the partial operability of the subway project between 2025 and 2026.

This game-changer of a project is expected to reduce travel time between Quezon City and the Ninoy Aquino Inter national A ir por t, or NAIA, from one hour and 30 minutes to 35 minutes. It has the potential capacity to ser ve up to 1 million passengers a day in later years. The beauty of this subway project is its physical interconnection and inter-operability with the North-South Commuter Railway System’s (NSCR) south segment. The link enables pas-

The wealth gap between Musk, 52, and Bezos, which at one point was as wide as $142 billion, has been shrinking as Amazon and Tesla shares move in opposite directions. While both are among the so-called Magnificent Seven stocks that have propelled US equity markets, Amazon shares have more than doubled since late 2022 and are within striking distance of a record high. Tesla is down about 50 percent from its 2021 peak.

sengers to board the subway train in North Avenue Station in Quezon City and get off at the Calamba Station of the NSCR. In addition, it is integrated with the public transit system in Metro Manila. Passengers may take several forms of road-based public transport, such as buses and jeepneys, to and from a station to reach their destination.

The line will link with other urban rail transit ser vices in the capital region as well, such as LRT Line 1, MRT Line 3 and MRT Line 7 at the North Triangle Common Station. Other connections include the existing LRT Line 2 and

about $8.5 billion last month

For Bezos, being atop the wealth rankings is a familiar perch He first overtook Microsoft Inc. co-founder Bill Gates as the world’s richest person in 2017. But a massive rally in Tesla shares left Bezos jockey ing with Musk for much of 2021 for the top spot. Late that year he fell way behind, and didn’t regain the No. 1 position until now. Bernard Arnault, 74, the chairman of LVMH Moet Hennessy Louis Vuitton, the world’s largest lu xur ygoods maker also ranks among the world’s wealthiest with a net worth of $197.5 billion. With assistance from Jack Witzig /Bloomberg

Tokyo prices heat up again, supporting case for BOJ rate hike

By Erica Yokoyama & Toru Fujioka

PRICE growth in Tokyo surged back above the Bank of Japan’s target in February, a jump that supports the

Most economists expect the bank to move by April after the release of updated figures laying out the pay deals agreed between companies and unions. The BOJ has repeatedly highlighted the importance of higher wage growth feeding into inflation to produce a positive growth cycle before it pulls back on stimulus.

the price relief measures until April, a factor that will continue to obscure the full extent of inflationar y pressure. Subsidy factors may continue to complicate readings of the inflation figures moving for ward.

The report showed the smaller falls in energy prices contributing more than 0.8 percentage point to the gains in the overall index. Hotel and lodging prices rose by a third from a year earlier continuing their strong gains. Increases in processed food prices continued to cool to 5 percent.

said Yoshiki Shinke, senior executive economist at DaiIchi Life Research Institute. “Today’s results must be in line with BOJ’s view. This won’t alter their policy stance or the likelihood of normalization in March or April.”

T he data come after Monday’s strong capital investment fig ures helped spur bets that the BOJ might raise rates as early as March

Most economists expect the bank to move by April after the release of updated figures laying out the pay deals ag reed between companies and unions. The BOJ has repeatedly highlighted the importance of higher wage growth feeding into inflation to produce a positive growth cycle before it pulls back on stimulus.

Preliminar y results from Japan’s biggest union federation Rengo are due for official release on March 15. The board’s next meeting concludes on March 19.

The jump in Tokyo price growth largely reflects the loss of the yearon-year impact of government subsidies introduced a year ago.

Prime Minister Fumio K ishida implemented a series of utility support steps in early 2023, including a 20 percent discount on household electricity rates, to put a lid on soaring power bills, measures that pushed down national inflation by around 1 percentage point.

W hile the gover nment has already reduced the extent of its energy subsidies, it is planning to maintain

A measure of the underlying inflation trend showed it still remains at 3.1 percent, a tad softer than revised figures for the previous month, but in line with estimates. Ser vice prices, an indication of the wider spread of inflation in the economy, rose 2.1 percent, matching the pace of the previous month

“For the Bank of Japan, the CPI report won’t signal its 2 percent target is secure. In fact, there were some indications prices remain wobbly— the increase in costs of daily necessities such as food retreated,” said Bloomberg economist Taro K imura.

Last week BOJ board member

Hajime Takata spurred speculation over a possible early move by the central bank to scrap its negative interest rate when he said the bank’s price target was finally coming into sight, and it would be fine to shift policy gears.

Governor Kazuo Ueda offered a more cautious view after the G-20 meeting in Sao Paulo, stating that he would continue to scrutinize data in search of confirmation that a virtuous wage-price cycle is emerging.

Upcoming results of pay negotiations from major companies and unions are likely to be one of the main factors driving speculation over the timing of the bank’s move. Last year Rengo’s results showed annual wage deals averaged 3.6 percent.

“The key is whether wages will keep rising to boost consumer spending so that businesses are convinced they can keep raising prices gradually,” Shinke said. Bloomberg

Lipa City: A rising economic force in Batangas

LDr. Jesus Lim Arranza

MAKE SENSE

IPA City, a first class city in the province of Batangas, has been making remarkable strides in its economic development in recent years. As the first city charter in Batangas and one of five cities in the province, Lipa City has emerged as a dynamic urban center, attracting investments and fostering a vibrant business environment. With a population of 372,931 people according to the 2020 census, Lipa City is poised to become an economic powerhouse in the region.

Lipa City’s economic progress can be attributed to its diversified economic base. The city boasts a blend of industries, including manufacturing, commerce, ser vices, and agriculture. This diversity has helped create a robust and resilient economy, as it is less reliant on a single industr y. The presence of various sectors has contributed to increased employment opportunities and improved living standards for the residents.

Lipa City ser ves as a bustling commercial hub in the reg ion. T he city’s central business d istrict is teeming w ith commercial establishments, shopping malls, and retai l outlets, catering to the needs and preferences of the g row ing population. T he retai l sector has experienced a remarkable upsw ing, attracting both local and inter national brands. T his v ibrant commercial scene has not only enhanced the city’s economy but has also prov ided an avenue for entrepreneurship and small business g rowth

On Saturday, March 2nd, my dear friend Dr Lorenzo Ku extended a gracious invitation to me to participate in a significant event—the grand

opening of the Fiesta World Mall and Family Museum Fiesta Friendship Park in Barangay Marawoy, Lipa City. It was an honor to be included among the esteemed guests chosen to par take in t he ribbon-cutting ceremony. Sit u ated on a vast 10-hecta re property, Fiesta World Mall encompasses a remarkable 35,000 square meters of leaseable area, offering a multitude of opportunities for enjoyment, shopping, dining, and entertainment to all who visit. Now, allow me to take this opportunity to share with you the speech I have prepared for this extraordinar y moment: Ladies and gentlemen, esteemed guests, and most importantly, my dear friend Dr Lorenzo Ku and his family members. I stand before you today with a heart filled with gratitude and joy as I extend my deepest thanks to my cherished friend Dr Ku for the incredible honor of inviting me to cut the ribbon at the grand opening of this magnificent Fiesta World Mall and Family Museum Fiesta Friendship Park. This occasion symbolizes

the culmination of your hard work, vision, and unwavering dedication, and I feel truly humbled to be a part of this momentous celebration. As we gather here today, it is important to acknowledge and appreciate the rich tapestr y of histor y that has shaped the Philippines into the diverse and vibrant nation it is today. The annals of time remind us that both Spain and the United States once graced these lands as colonizers, leav ing indelible imprints on our culture and heritage. However it was the Chinese who arrived not as conquerors, but as traders and businessmen seek ing new opportunities. Their arrival brought not only economic prosperity but also a lasting presence that contributed to the ver y fabric of our society. Indeed, many C hi nese i mm ig rants c hose to make t he Phi l ippi nes t heir home, embrac i ng t he Fi l ipi no way of l i fe whi le preser vi ng t heir own c u stoms and t rad it ions. T hey i nteg rated seamlessly into our communities, forg ing deep connect ions and fosteri ng enduri ng f riendships. Today, we see t he f ruits of t heir labor i n t he t hriv i ng businesses, v ibrant neighborhoods, and st rong fam i l i al t ies t h at h ave become an i nteg ral pa r t of our nat ion’s ident ity. It is worth noting that the influence of the Chinese in the Philippines extends beyond the realm of commerce and culture. Even among our esteemed leaders, we find individuals with Chinese ancestr y who have left an indelible mark on our histor y. From President Ferdinand Marcos to President Cor y Aquino, their Chinese blood underscores the profound and lasting contributions of the Chinese-Filipino community to our nation’s progress. W hile it is true that tensions have arisen in recent times, particularly

with regard to the South China Sea, I firmly believe that there is hope for a harmonious relationship between the Chinese and Filipino people. Our shared histor y, intertwined destinies, and common aspirations can ser ve as the foundation for fostering understanding, promoting dialogue, and building bridges of cooperation.

Today, as we stand united within the confines of this remarkable establishment, we are reminded of the power of collaboration, camaraderie, and friendship. This mall, museum, and park ser ve as a testament to the enduring spirit of the Chinese-Filipino community and their unwavering commitment to the betterment of society. It is a symbol of progress, a source of inspiration, and a testament to the boundless possibilities that lie ahead.

To my dear friend, I extend my heartfelt appreciation for the honor you have bestowed upon me today. Your vision, determination, and unwavering belief in the power of unity have culminated in the creation of this remarkable space. May this day mark the beginning of a new chapter filled with prosperity, growth and harmony.

Thank you once again, for allowing me to be a part of this momentous occasion. May this new endeavor bring you and the entire Chinese-Filipino community abundant blessings and endless success. Together, let us embrace the future with open hearts, open minds, and an unwavering commitment to building a brighter tomorrow.

Thank you, and mabuhay!

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

China defense spending to climb 7.2% as Xi pursues buildup

CHINA’S defense spending will grow by 7.2 percent in 2024— the most in five years—an increase that comes amid signs corruption is undermining a militar y revamp.

Militar y expenditure by the central government is expected to rise to 1.67 trillion y uan ($231 billion) this year, according to a Finance Ministr y report released on Tuesday. In comparison, US President Joe Biden signed an annual $886 billion defense bill late last year, one that advanced a trilateral security deal with Australia and the UK largely intended to counter China.

Chinese leader X i Jinping has set a 2027 deadline for his nation’s militar y to become a “world-class force”—one his diplomats say is focused on defense—yet doubts are mounting over whether corruption i s hi nderi ng t h at ambit ion. T he People’s Liberation Army Daily said this year it would continue fighting the “difficult and protracted war on graft,” a pledge that came after the

defense sector was shaken by a series of abrupt personnel changes.

In recent months, the defense m i n i ste r of t h e wo r ld’s la r gest ar med forces by number of troops and two Rocket Force generals were replaced w ithout explanation. Top pol it ical bod ies have also k icked out several other senior mi litar y f ig ures. T he Rocket Force manages China’s nuclear weapons, an arsenal that the US has war ned is expanding.

Bloomberg News reported this year that US intelligence indicated the sweeping militar y purge came after widespread graft was found to have hampered X i ’s modernization drive.

T h e co rru pt i on i ns i de t h e Rocket Force and t hroughout t he nat ion’s defense i ndu st ri al base was so extensive t h at US off ic i als bel ieved X i is less l i kely to contemplate major m i l ita r y act ion i n t he coming years than wou ld other w ise h ave been t he case, accord i ng to people fam i l i a r w it h t he assess-

ments who asked not to be named d isc u ssi ng i ntell igence. Spending on the PLA has risen by at least 6.6 percent each year for the past three decades, although analysts say Beijing’s actual f ig ure far exceeds its off icial sum, par tly because R&D expenditures are not i ncluded. C hi na’s prov i nces also make a small contribution to defense spending.

The Asian countr y now has the world’s biggest navy by number of ships and is adding to its fleet of aircraft carriers. China, the US and Russia are the only nations producing fifth-generation fighter jets. Last week, the US said China is boosting its militar y capabilities in space at a “breathtaking pace.”

Chinese Premier Li Qiang said while delivering a work report to the opening of an annual legislative meeting in Beijing on Tuesday that the government was determined to get the militar y ready to fight.

“The armed forces will strengthen all-around militar y training and

China spurns Ukraine diplomats at home, undermining peace push

By Bloomberg News

CLi

HINA has sent a high-ranking diplomat to Kyiv to seek a political settlement to the war. But within Beijing, it appears to be giving Ukrainian diplomats the cold shoulder.

peace proposal issued in Februar y 2023 to end the war Be iji ng’s out reac h abroad appears to contrast with its actions at home. Ukraine’s ambassador, Pavlo R iabikin, has secured only a handful of meeting since his arrival in the Chinese capital last summer, despite sending requests to almost 40 different ministries and municipalities, according to a person familiar with the matter, who asked not to be identified discussing private information.

12-point

By contrast, Russian Ambassador Igor Morgulov—who was appointed to ser ve in Beijing by Vladimir Putin in September 2022—described Russia-China relations last year as “ver y fruitful.” He told Rossiya-24,

a state-owned Russian news channel, that his embassy arranged 27 visits by Russian officials to China at the level of federal minister and higher, including the head of state Putin himself. The Chinese Foreign Ministr y said in response to a question about the Ukrainian ambassador’s lack of meetings that “communication channels between China and Ukraine are unimpeded.” The Ukraine embassy in Beijing didn’t respond to an e-mail seeking comment. Support for Ukraine among the broader Beijing diplomatic community is mixed. A Ukrainian embassy event on Februar y 22 to mark two years of the war was attended by Wester n d iplomats i nclud i ng US Ambassador Nic holas Bur ns and British Ambassador Caroline Wilson. In contrast, only half a dozen diplomats from Global South countries in Beijing showed up, out of the more than 100 invited, the person said. Elsewhere, countries are seek-

Support for Ukraine among the broader Beijing diplomatic community is mixed. A Ukrainian embassy event on February 22 to mark two years of the war was attended by Western diplomats including US Ambassador Nicholas Burns and British Ambassador Caroline Wilson. In contrast, only half a dozen diplomats from Global South countries in Beijing showed up, out of the more than 100 invited, the person said.

ing to rally support for Ukraine’s peace talks. Swiss Foreign Minister Ignazio Cassis last month invited China to participate in a high-level peace conference. Switzerland, which has historically remained neutral in European conflicts, is looking to establish talks by the summer A detailed itinerar y for Li ’s trip

has yet to be released. A European diplomat, who asked not to be identif ied discussing private matters, described the visit as being hastily arranged and said expectations are low for it to yield anything new or substantial.

Russia meeting

LI said in a meeting Saturday with Mik hai l Galuzin, Russian deputy foreign minister, that China will continue its efforts to promote talks for peace, mediate and build consensus among parties to push for a solution to the conflict.

“H i storical expe rience s hows that any conflict in the end has to be settled through negotiations,” China’s Foreign Ministr y said in a statement follow ing Li ’s meeting.

“The more acute the conflict is, the more important it is not to give up efforts for dialogue.”

Li conducted his first shuttle diplomacy in May 2023 where he met with

combat read iness, and resolutely safeguard national sovereignty, security and development interests,” he said. China’s stepped up financial support for its armed forces comes amid lingering militar y tensions with the US, especially over Taiwan, though the situation has eased since X i and Biden met in the US in November last year Beijing held major exercises around the democratically run island of 23 million people twice since August 2022 because its leader, President Tsai Ing-wen, met top US lawmakers.

The US and its allies also sometimes engage in tense encounters with PLA planes and ships in the South China Sea, the body of water Beijing largely claims as its own. Underscoring that friction, in autumn last year the US and China each released video footage that accused the other of provocative or unprofessional actions by militar y craft in and around the sea. With assistance from James Mayger and Krystal Chia /Bloomberg

Ukrainian President Volodymyr Zelenskyy. Li said then that China would help Ukraine “within its own ability.” Beijing is paying a steep price for its stance on the war Tensions with the European Union have been rising as the bloc made clear it won’t separate trade from security issues, with Brussels opening a probe into Chinese electric-vehicle manufacturers and Beijing launching an antidumping investigation into EU liquor products. Brussels is considering new restrictions on three Chinese firms that it believes are supporting Russia’s war efforts in Ukraine. Chinese Foreign Ministry spokeswoman Mao Ning said at a briefing last week that the countr y has never given up in its efforts to promote peace and talks. Beijing said it conducted i n-dept h commu n icat ion with Russia, Ukraine and other relevant countries, and played a constructive role in dealing with the crisis. Bloomberg

Cyber attacks hit PHL once per minute; will get worse

THE Philippines saw cyberattacks coming in once every minute in 2023 and cybersecurity firm Kaspersky believes that it will just continue to worsen this year.

w i ll worsen in 2024.

In Kaspersky’s 2024 threat forecast in the Southeast Asian reg ion, which includes the Philippines, exper ts predict that financial ser v ice outages, DDoS attacks, and website defacements will continue to persist.

To protect t he cou nt r y’s d ig ital inf rast ruct ure, Kaspersky is highl ight ing t he urgent need for organizations and indiv iduals to prioritize robust cybersec urity st rateg ies.

Yeo expla ined t hat enter prises operat ing in t ightly reg u lated sectors w it hi n t he Phi l ippi nes—i nclud ing publ ic ut i l it ies, f inanc i al ser v ices, and healt h ca re—face t he crit ical imperat ive of ma inta ining compliance while safeg uarding vast volu mes of sensit ive cl ient data.

t he attacks

Staying ahead of dynamic cyberthreats is paramount for these entities, ensuring not only regulator y

adherence but also the robust protection of invaluable client information.

Hence, Kaspe r sky i nt roduced on Tuesday t he Kaspersky Unif ied Monitoring and Analysis Platfor m (KUMA), a native security infor mation and event management (SIEM) solut ion for sec urity infor mat ion and event management.

“Threat actors increasingly use diverse tactics to launch sophisticated targeted attacks. Therefore, it is essential to use a platform that can provide a centralized view of security events in quickly identifying and responding to potential threats such as the Security Information and Event Management System. A SIEM is commonly used for compliance support with internal security policies and external regulatory requirements,” Kaspersky Head of Systems Engineering for Southeast Asia Victor Chu said.

At its core, KUMA compri ses essent i al components t hat seamlessly work in tandem: Collectors, Correlator Core, and Storage.

Collectors, the first line of defense, receive and process messages from event sources. Their tasks include parsing, normalization, and optional filtering and aggregation to ensure comprehensive data handling.

T he Correlator takes the reins by analyzing nor mal i zed events f rom

Collectors. It executes actions based on act ive l ists, creat ing aler ts in st rict ad herence to predef ined correlation ru les. T his ensures a proact ive response to potent i al t hreats, m inim i zing v u lnerabi l it ies.

KUMA’s Core int roduces a userfriendly graphical inter face, prov iding administrators w ith an efficient means to monitor and manage t he settings of t he system components. T his simpl if ies t he complex task of overseeing cybersecurity measures.

Storage acts as t he repositor y for nor mal i zed events and reg istered inc idents. T his cent ral i zed hub ensures t hat data is not only eff ic iently managed but

By Malou Talosig-Bartolome @maloutalosig

‘L

EAVE the Ay ung in Shoal i mmed i ately.” T he Depa r tment of Foreign Affa irs demanded t his of t he C hinese Coast Gu a rd and C hinese ma rit i me m i l it i a, as it lodged its d iplomat ic protest aga i nst t he latest C hi nese agg ression on Phi l ippine ships t ranspor ting suppl ies to Phi l ippine m i l ita r y men stat ioned at Ay u ng in Shoal (inter nat ional name: Second T homas Shoal).

DFA Deputy Assistant Secreta r y Raphael Her moso conveyed t he Phi l ippine protest when he s u mmoned C hi nese Embassy Deputy C hief of Mission Zhou Zhiyong Tuesday after noon. Accord ing to t he Phi l ippine Coast Gu a rd, C hinese ships f ired water cannons at one of its vessels, and injured some crew Tuesday a rou nd 6:30am.

“During the meeting, the Philippines st ressed, among ot hers, t hat C hina’s inter ference w it h t he Phi l ippines’ rout ine and lawf u l act iv it ies in its own exclusive econom ic zone is u nacceptable. China’s act ions in Ay ung in Shoal inf ringes upon t he Phi l ippines’ sovereign rights and jurisdiction.

“The Philippines demands that Chinese vessels leave the v icinity of Ay ung in Shoal immediately,”

the DFA said in a statement.

T he DFA rem inded t he C hinese d i plomat t h at Ay u ng i n Shoal is a low-t ide elevat ion and located w it hin t he Phi l ippines’ exclu s i ve econom i c zone and cont inental shelf.

¨In accordance w it h t he 1982

UN Convention on t he Law of t he Sea and t he f inal and bind ing

2016 A rbit ral Awa rd, it cannot be appropri ated for sovereignty claims. Inter national law affir ms t h at t he Phi l ippi nes exerc i ses sovereign rights and jurisd iction over t he feat ure,” t he DFA sa id.

C hina: PCG intent ionally coll ided our vessel In Beijing, t he C hi nese Foreign M i n i st r y d id not deny t hat its C hinese Coast Gu a rd blocked t he Phi l ippi ne resupply and rotat ion m ission.

“T he on-site operat ion was professional and restra ined, reasonable and lawf u l,” Mao Ning, t he Minist r y spokesperson, sa id at a press conference.

Mao ur ged t h e Phi l i pp i ne gover nment to “stop ma rit ime v iolat ions and provocat ions and ref ra in f rom tak ing act ions t hat may compl icate t he ma rit i me sit u at ion.”

T he C hine Coast Gu a rd also issued a sepa rate statement, accusing its Philippine counter part of “pur posef u lly” coll id ing w it h t heir vessel.

Continued on A

PETRON Corp. ended 2023 with a net income of P10.1 billion, 51 percent more than the P6.7 billion it reported in 2022 on stronger sales.

Adouble the P2.7 billion it reported in 2022. Power accounted for 67 percent of AEV’s total net income in 2023, while financial ser vices accounted for 18 percent. Earnings from infrastructure, food and real estate units

Gas u l and Fiesta Gas.

In the highly saturated and pricedriven retail sector, sales went up by 15 percent resulting from the company’s efforts to increase the competitiveness and productiv ity of its ser vice station network, which remains the widest in the countr y. Overall, Petron grew its overall market share to 24.5 percent in the first half of 2023 according to the latest

available data from the Department of Energy.

Despite hi g he r sales volu me, Pet ron recorded lower revenues at P801 bi ll ion, 7 percent t h an t he prev iou s yea r’s P857.6 bi ll ion, as prices cont i nued to correct f rom t heir record-high levels i n 2022.

T he f u llyear average price of benchma rk Duba i c rude stood at $82 per ba rrel i n 2023, down 15 percent f rom $96 i n 2022. Operating income improved by 60 percent to P30.7 billion last year as efforts to capture the continued demand recover y, optimize assets and resources, and respond to market volatility paid off. The upswing in the financial results came at a time of persistent geopolitical conflicts and global inflationary concerns pressuring the market.

“Our strategy to capture the econom ic resurgence and m i n i m i ze external pressures played a key role to our success. W hile challenges remained, our company managed to deliver significant improvements in high-demand sectors. We are com-

mitted to strengthen these efforts, among other initiatives that w ill not only solidify our recover y but will also take us further ahead in nation-building,” said Petron Chairman Ramon S. Ang.

Petron was recognized by the Bureau of Customs as one of the countr y’s top importers in 2023 based on payment of duties and taxes. The company also remained as the leading contributor to the government’s fuel marking program since it took effect in 2019.

For 2024, Petron said it is poised to reinforce its growth and nationbuilding efforts including the expansion of its retail and logistics network, side by side with its sustainability endeavors.

“We look back on 2023 with pride as we celebrated our 90th year We made much progress in the things we sought to accomplish like our financial recover y and further expansion.

Looking ahead, we are inspired to be more responsible, accountable, and sustainable as we continue to grow our business,” said Ang.

TThe

were at 6 percent, 5 percent and 4 percent, respectively.

“Building on our resilience and steady core per for mance, we are ready for another exciting phase of growth and innovation. Our acquisition of Coke’s bottling operations with our partner Coca Cola European Partners accelerates our diversification into the consumer market,” company president and CEO Sabin M. Aboitiz said.

“And t he recently annou nced investment of AboitizPower in gas projects with Metro Pacific Investments Cor p. and San Miguel Global Power diversifies our energy mi x

By Jovee Marie N. Dela Cruz @joveemarie

WITH the growing interest among Koreans in pursuing educational opportunities in the Philippines, the Korean Chamber of Commerce-Philippines (KCCP) on Tuesday expressed its strong suppor t for t he proposed constitutional amendments geared towards the liberalization of Philippine education, particularly focusing on higher learning institutions.

KCCP President Hy un Chong Un delivered this endorsement during the fifth hearing of the Committee of the W hole House of Representatives on Resolution of Both Houses (RBH)

7. He conveyed the KCCP’s “enthusiasm” for the potential liberalization of Philippine education, emphasizing the positive impact it could have on attracting more Korean and international students.

“It will make Philippine education more competitive. It will benefit the Philippines,” he said.

He said his group believes that the presence of foreign schools operating in the Philippines would not only enhance the competitiveness of Philippine education but it will also benefit the nation as a whole.

Hy u ng i nfor med t he panel t h at app r ox i mately 50,000 Ko r eans a r e c urr ently en r olled i n local sc hools, hi g h l i g ht i ng a spec i f i c i nte rest among hi s compat riots

as we transition to cleaner energy. We are confident that 2024 will be a transformative year for AEV and its business units.”

The net income contribution of Aboitiz Power Cor p. to AEV in 2023 amounted to P17.3 billion, 28 percent higher than the previous year’s P13.5 billion.

AboitizPower said its new coal power plant helped boost the company’s core net income last year to P32 billion, 29 percent higher than the P24.8 billion recorded in the previous year

“The increase was primarily due to f resh contribut ions f rom GN-

Power Dinginin Ltd. Co. ((GNDP) and higher availability across the company’s generat ion por tfol io,” AboitizPower said in a disclosure on Tuesday.

Reported net income for the full year 2023 also improved by 27 percent to P33.1 billion.

“We had a strong financial performance in 2023, especially considering ongoing market challenges. This achievement f ur ther strengthens our position as a leader in the industry,” said AboitizPower President and CEO Emmanuel V. Rubio.

Continued on B

i n lea r n i ng Engl i s h

The KCCP head also told the Committee of the W hole House that his group shares the position of the Joint Foreign Chambers of Commerce in supporting the proposed economic constitutional amendments.

Lawyer Anthony Abad, an Ateneo law professor participating in the hearing, noted the potential of the countr y’s basic law as a powerful tool for attracting foreign investments.

He supported the idea of empowering Congress to modify foreign capital and ownership restrictions, suggesting a departure from these constraints being constitutionally prescribed.

“My wish is that within our life-

time, we will finally see our Constitution modernized.”

of

Sentral ng Pili-

the SEC, the Insurance Com-

and the Philippine Deposit

Cor p., the Philippine Sustainable Finance Taxonomy Guide-

(SFTG) provide a framework for the determination of the environmental and social sustainability of economic activities and guidance for stakeholders in mak ing wellinfor med investment and financing choices.

The SFTG offers a “simplified approach ” for the assessment of micro, small and medium enterprises’ activity for financing, to ensure that they were not excluded from participating in sustainable finance.

“With the Philippine Sustainable Finance Taxonomy Guidel ines in place, we hope to channel and amplify more capital toward economic projects that further sustainability goals such as lowering greenhouse gas emissions and bolstering climate resi l ience, whi le fostering t rans-

parency by reducing the likelihood of g reenwashing,” SEC cha ir man Emilio B. Aquino said. Issuers of securities will have to refer to Philippine SFTG when making investment decisions or designing sustainable financial products and ser vices. They must also comply with the relevant memorandum circulars issued by the SEC when issuing green, social, sustainability and sustainability-linked bonds. To determine if an economic activity qualifies as environmentally or socially sustainable, and whether its financing can be categorized as aligned with the SFTG, issuers should refer to the enumeration of excluded activity under the SFTG, and determine whether or not the activ ity complies with Philippine laws. Issuers should then select the environmental objective of the activity, such as its relevance and strategic alignment; investors or financial institution’s priority; and government and industr y guidance.

The SEC said regulated entities should refer to the general guiding questions for the “Do No Significant Harm (DNSH)” to focus the assessment on the potential or actual harm to another environmental objective. An activity that falls under the “red” classification does not meet the higher sustainability ambition of the SFTG or pass the DNSH or minimum social safeguards tests. The classification, however, does not imply that the activity is unsustainable; such an activity may still be eligible for unlabeled financing.

AYALA Land Inc. said it

Manulife sees BSP lowering key rates

ABanking&Finance

DOF preps vs dry spell’s inflation jolt

By Reine Juvierre Alberto

EXPECTING the El Niño phenomenon to peak this month and persist until May, Finance Secretary Ralph G. Recto announced government’s plan as a proactive tack, seeing the dry spell could jolt inflation.

Recto said they are banking on its “Reduce Emerging Inflation Now,” or “Rein,” plan to keep the prices stable, ser vices affordable and keep inflation rate within “manageable levels.”

“Reducing inflation and protecting the purchasing power of Filipinos is a top priority of this administration,” the Finance chief said reiterating his previous statements to the public through mainstream media.

The

commodities.

Canizares noted that the increase in transport prices will slow down after most global energy prices, specifically crude oil stabilize in the past twelve months ending last Februar y.

The analyst also pointed out that a significant increase in rice prices year-on-year (Y-o-Y) would also continue, citing the Philippine Statistics Authority’s data that rice prices remained elevated in Februar y rising 1 percent mont h-on-mont h after increasing by 23 percent in Januar y.

Head of Fixed Income Jean Olivia de Castro said MIM PH thinks that inflation will be within the BSP’s target range for the first quarter of the year mainly due to base effects.

De Castro also projected inflation to accelerate again in the second quarter of the year as base effects will dissipate.

“Upside risks to inflation may stem from elevated rice prices and cont inued increases in global oi l prices,” de Castro said.

The analyst pointed to OPEC supply cuts, conflict in the Middle East, and Houthi attacks on shipping lines in the Red Sea for the increase in oil prices by over 8 percent during the first two months of the year

Lower ta ri ff r ates, i nc rease i n rice i mpor ts and t he h a r vest season shou ld help cap t he cont i nued i nc rease i n rice prices, accord i ng to de Cast ro, not i ng t he 22.6 percent Y-o-Y rice price i nc rease i n Janu a r y.

“We expect them to remain elevated as export restrictions remain from India, the world’s biggest supplier, and as importing countries increase purchases to combat effects of El Niño, which could last until midyear,” the analyst added.

Reine Juvierre Alberto

“The government and the Bangko Sentral ng Pilipinas [BSP] are working in sync to ensure that both nonmonetar y and monetar y measures prioritize growth and price stability.”

T he inflation rate in Februar y 2024 stood at 3.4 percent, faster

than the 2.8 percent in the previous mont h latest data f rom t he Phi l i pp i ne Stat i st i cs A u t h o ri ty (PSA) showed. (See: https:// businessmirror.com.ph /2024/03/05/ inflation-faster-at-3-4-in-february/)

plan includes expediting the execution of the 2024 national budget by prioritizing the implementation of measures aimed at enhancing agricultural production, according to the DOF.

Rice, commodities RECENTLY, t he Depa r tment of Budget and Management approved t he release of P455.59 m i ll ion for the R ice Competitiveness Enhancement Fu nd (RCEF) for prog rams foc u si ng on fa r m product iv ity and food sec urity for t he f irst qu a r ter of t he yea r Finance off icials expect the national gover nment wou ld continue the distribution of Fer ti lizer Discount Vouchers (FDVs) to sustain crop production amidst the El Niño. According to the DOF, there are ongoing negotiations to impor t rice from India and Vietnam. Mani la is also sti ll exploring the possibi lity of sourcing the g rain from Phnom

Penh President Ferdinand R. Marcos Jr has expressed intentions to build up the countr y’s rice stockpile to secure local food supply to prepare for the drought brought by the El Niño phenomenon. (See: https:// businessmirror.com.ph /2024/03/04/

BOC Feb revenues hit ₧70B, pass target

THE Bureau of Customs (BOC) raked in more than P70 billion in revenues for Februar y this year, surpassing its target collection for the month

In a statement on Tuesday, the BOC said its collections for Februar y 2024 reached P70.601 billion, higher than the P66.207 billion target last month

“We remain committed to our mission of excellence, fiscal responsibility and ser vice to the Filipino people. As we continue to innovate and adapt to evolving challenges, the BOC is poised to achieve even greater milestones in the future,” Commissioner Bienvenido Y. Rubio said in the statement.

The Bureau also noted that it was able to generate a sur plus of 6.64 percent or P4.393 billion, based on its preliminar y report.

With the latest per for mance, the Bureau of Customs (BOC) has earned a total of P143.93 billion in the first two months of the year P8.641 billion higher than its target collection of P137.986 billion for the Januar y-to-Februar y period.

Pru Life UK opens new offices

The Bureau’s Februar y 2024 collection rose by 7.82 percent year-on-year to P10.44 billion.

The BOC attributed this increase to the agency’s higher assessment rate due to an improved system of determining the customs value of imported goods.

It also pointed to enhanced strategies and technological advancements which enabled the agency to optimize its procedures and trade faci itation efforts.

Last month the BOC participated in t he World Customs Organization Regional Intelligence Liaison Offices for Asia and the Pacific (WCO RILOA/P) initiatives to reinforce information gat hering and exchange w it hin the region (See: https://businessmirror com.ph /2024/02/20/boc-seeks-i nteldata-sharing-ops-support-from-globalgroup/).

T his, the Bureau said, reflects its drive to further strengthen its antismuggling capabilities.

T he BOC’s revenue collect ion t hi s yea r i s pegged at P1 bi ll ion, hi g her by 15 to 20 pe rcent t h an it collected

THE Pru Life Insurance Corp. of UK announced opening eight new offices in the Philippines. In Metro Manila, two of its latest offices are located in Makati, one in Bonifacio Global City in Taguig, and two in Pasig. The insurer also opened one office each in provincial metropolitan areas such as Mindoro, Nueva Vizcaya, and Cagayan de Oro. Since its inception in 1996, the insurance company has expanded its reach to over 170 branches general agency offices in the Philippines, with the largest number of more than 42,000 licensed agents. The firm recently launched a whole-life participating plan for as low as P87 per day with lifetime coverage up to age 100 and payment terms of 5 years, 10 years, 15 years or 20 years. Roderick L. Abad

phl-and-cambod ia-a g ree-to-e xplore-ricesupply-cooperationtrade-tourism-tie-ups/) Top officials have said Manila is also accelerating the implementation of government’s “El Niño Mitigation and Adaptation Plan.”

The DOF added that the national government also ensures the timely and sufficient imports of key commodities based on more frequent analysis of demand and supply conditions while also combating anticompetitive practices.

According to the DOF, Malacañang would soon release guidelines for the exemption of vehicles transporting these commodities from the hike in toll-rates.

The government currently provides fuel subsidies for the transport sector and other measures to implement broad-based inter ventions to moderate non-food inflation.

Volatile markets EARLIER, Socioeconomic Planning Secretar y Arsenio M. Balisacan said that the potential impact of a strong El Niño weather patter n on food prices is a significant concern for the community.

“Rising transportation costs, electricity rates, and volatile oil markets

last yea r, accord i ng to Comm i ssioner Rubio. Last year the agency posted a recordbreaking revenue collection of P883.6 billion, resulting in a sur plus of P9.5 billion and exceeding its target of P874 billion on the back of digitalization efforts and anti-smuggling drive. Ear ier, Finance Secretar y Ralph G. Recto said the BOC, as the second biggest revenue agency, will collect almost 24 centavos of ever y revenue peso that will be raised this year “For ever y budget peso that the government will spend this year 20 centavos will be generated by the BOC,” Recto said during the BOC’s founding anniversar y last month

Recto, in his speech, called for the implementation of an integrated system for pre-border veri f icat ion and c ross-border elect ron ic i nvoic i ng to curb smuggl ing, misdeclarat ion and undervaluation (See: https://businessmirror.com.ph/2024/02/15/oil-carsfarm-products-top-boc-tracking-vssmuggling/).

Lender ranked 7th top employer Security Bank Corp. (PSE: SECB) announced it was ranked 7th in the “Top 100 Employers for Fresh Graduates” list of the local office of New South

Prosperity through judicial reform

are putting pressure on household finances,” Balisacan added.

T he inflation rate in Februar y 2024 saw a slight uptick of 0.6 percent from the previous month but was still within the BSP’s forecast of 2.8 percent to 3.6 percent.

Food and non-alcoholic beverages inflation rose to 4.6 percent in Febru a r y f rom 3.5 percent in Januar y due to rice as well as flour bread, and other baker y products whi le prices of vegetables decelerated in Februar y. Higher commodity prices were also driven by housing, water electricity, gas and other fuels with an increase of 0.9 percent during the month compared to the 0.7 percent posted in Januar y 2024.

The government’s weather agency announced in June last year “a higher chance of El Niño persisting up to the first quarter of 2024.”

“El Niño increases the likelihood of below-normal rainfall conditions, which could bring negative impacts (such as dr y spells and droughts) in some areas of the countr y,” Esperanza O. Cayanan, officer-in-charge of t h e Phi l i pp i ne Atmosp h e ri c, Geophysical and Astronomical Services Administration, said through a statement.

Despite higher yield bids, ₧30B raised from bonds

Ta statement after the auction. R i zal Commerc i al Bank ing Cor p. Chief Economist Michael L. Ricafort told the BusinessMirror that the higher yields can be pointed to the uptick in headline inflation of 3.4 percent recorded in February 2024.

Ricafort also noted the latest new record highs retai treasury bonds (RTBs) issuance at P584.86 billion in February 2024 which could have “siphoned off/mop up some excess peso liquidity in the financial system and could have led to some increase in the supply of government securities in the market for the meantime.”

Last week, the Treasury made a full award of its last T-bonds auction for the month of February, raising P30 billion from the auction of its new 20-year Tbonds. For the month of February, the national government only raised P30 billion from T-bonds and fell short of its P150 billion goal fter it rejected bids and canceled an auction.

This month the national government plans to borrow as much as P120 billion from the tender of T-bonds. The programmed amount is P30 billion lower than the P150 billion targeted amount last month It is also targeting to raise P180 billion in March from the combined sale of T-bonds and Treasury bills (T-bills). The Treasury will tender a total of P51.050 billion wor th of T-bills and P1.802 trillion worth of T-bonds this year Based on state budget documents, the national government aims to borrow a total of P2.46 trillion, P253 billion higher than the P2.207 trillion gross borrowing plan in 2022. Reine Juvierre Alberto

ATTITUDE PROBLEM

A RECENT blind item about a singer has resulted in many bad comments about her and her attitude. And apparently, it’s not just her with the attitude problem but her entire team. One commenter on the post bashed the singer and her team for their unreasonable food and beverage riders. Another said she didn’t sing live in their event but lip-synched. There is no doubt that the singer is talented but her attitude and level of professionalism leave much to be desired. The singer was said to have once walked out of a show, earning the ire of its producers. Maybe this is why she’s never made it big despite her massive talent.

POTENTIALLY PROBLEMATIC

HOW true is the allegation that the new boyfriend of an actress has a history of abusive behavior? The actress used to be married and her husband was said to be a womanizer. Cheating was alleged to have been the reason for their separation. Now, the actress has found a new love and she seems happy. Those close to her are apprehensive because her new beau has a history of being involved in drugs and alcohol. He is also said to have physically abused former girlfriends. According to the grapevine, he is an even worse womanizer than the actress’ former husband.

NEW BOYFRIEND

THERE’S a rumor that a powerful woman, who is said to be separated from her husband, is involved with a younger man. The powerful woman has never confirmed her separation but she and her husband have not been seen together publicly in a while. Insiders say the woman is very enamored with her new boyfriend because he is young and is great to talk to. Many are surprised that she got involved with a man because they thought the powerful woman is a lesbian. Well, if this rumor is true, she is not.

WAR OF THE PARENT

THE war between a once-beautiful couple has turned into a war involving their parents. The parents have always been at war but the couple, when they were still together, made sure there was peace, at least for appearance’s sake. But now, all bets are off and the claws are out. Of course, the husband’s mother seems to have an edge because she’s very feisty but a recent development makes it seem that the wife’s mom is as much of a fighter. The husband’s mom threatened to tell all about the wife but her mother made a veiled threat about a lawsuit so all’s quiet now.

SINEAD O’CONNOR’S ESTATE ASKS DONALD TRUMP TO STOP PLAYING HER MUSIC AT RALLIES

LONDON—The estate of Sinead O’Connor on Monday asked Donald Trump not to play her music at campaign rallies, saying the late singer considered the former president a “biblical devil.” Trump has played O’Connor’s biggest hit, “Nothing Compares 2 U,” at events as he campaigns for the Republican presidential nomination.

In a joint statement, O’Connor’s estate and her record label, Chrysalis, demanded Trump “desist from using her music immediately.” It said the Irish singer, who died last year aged 56, “lived by a fierce moral code defined by honesty, kindness, fairness and decency towards her fellow human beings.”

“It was with outrage therefore that we learned that Donald Trump has been using her iconic performance of Nothing Compares 2 U at his political rallies,” the statement said.

“It is no exaggeration to say that Sinead would have been disgusted, hurt and insulted to have her work misrepresented in this way by someone who she herself referred to as a ‘biblical devil.’ As the guardians of her legacy, we demand that Donald Trump and his associates desist from using her music immediately.” Fiery and outspoken, O’Connor was a critic of the Roman Catholic Church well before allegations of sexual abuse were widely reported, and was open about her mental health struggles. AP

Reimagining ‘Betrayal’: A Filipina perspective on Pinter’s 1978 classic

prelude scene titled “The Installation.” Lirio described it as “motivated by Emma’s desire to justify a major decision in her present by revisiting her past.”

ASTARK white set adorned with Pacita Abad’s Paris in the Fall painting sets the stage for Repertory Philippines’ reinterpretation of Harold Pinter’s classic drama Betrayal. The warm hues of the Parisian autumn scene, in stark contrast to the play’s exploration of human complexities, foreshadow the emotional journey ahead.

Director Victor Lirio takes a bold approach, weaving a fresh perspective into the fabric of Pinter’s timeless, Olivier Award-winning tale. While the script remains unchanged, Lirio reimagines the narrative through the lens of Emma, a Filipina-British immigrant portrayed by London-based actress Vanessa White.

This shi t brings new layers to the story, prompting audiences to explore themes of social and gender inequality alongside the universal nuances of love, betrayal and memory.

Set in London and Venice, the play follows Emma, entangled in a seven-year a fair with her husband Robert’s close friend Jerry (played by James Bradwell and James Cooney, respectively).

In the opening night of Betrayal at the Carlos P. Romulo Auditorium of the CBC Theater, Lirio explained: “I wanted to explore the world of betrayal through a Filipina British ga e, speci ically that of a woman. This also allows me to see how it resonates with younger Filipino audiences, juxtaposing contemporary Filipino Catholic values with the play’s themes.”

He added, “I wanted a woman to have a strong position and control the narrative, even as it unfolds.”

Emma embodies a multifaceted character. Beyond the a fair, she possesses a rich tapestry of experiences and aspirations. The play opens in her gallery (replacing the original bar setting) with a

White, embracing her Filipino heritage, breathes life into Emma. “I remember when I auditioned for this role, and Victor told me that if I went on as Emma, I would be a irst-generation Filipino immigrant. I would be using myself as my own identity rather than trying to be a white person,” she shared.

“So, I think that it was really important to draw material from yourself rather than trying to it into a mold that I’ve been conditioned to it in for the longest time,” she added. Lirio further emphasized the authenticity by highlighting the organic attraction between Emma and Jerry. “We wanted to portray their relationship beyond mere deception, showcasing a genuine connection between two individuals,” he explained.

Miguel Urbino’s brilliant set design and John Batalla’s expert lighting serve as a canvas. The ever-present Pacita Abad piece draws the audience’s attention, symbolizing the past’s in luence on the present. The artwork becomes more than just a backdrop; it guides the audience as the play manifests in a unique reverse-chronological order, starting a ter the a fair’s end and ending at its beginning.

As the play concludes, we return to Emma’s gallery, forced to grapple with the characters’ choices and the enduring impact of their actions.

Through this reimagining of Betrayal, Lirio hopes to not only showcase Filipino talent but also expand the legacy of the play by o fering a fresh perspective which reminds us that the dynamics of human

TODAY’S HOROSCOPE

By Eugenia Last

DAY: Shaquille O’Neal, 52; Connie Britton, 57; D.L. Hughley, 61; Rob Reiner, 77.

Test your ideas and move forward with confidence. Change begins with you this year, so don’t procrastinate or wait for someone else to steal your idea. Dig in and work toward your goal. You’ll face your fear of failure, and if you rise above and give yourself a chance to flourish, the outcome will exceed your expectations. Live life your way. Your numbers are 9, 17, 22, 28, 34, 40, 47.

Refuse to let emotions stand in your way. Actions speak louder than words, and what you do will positively impact what you achieve. When in doubt, start small. Don’t let outsiders talk you into something you don’t need to reach your goal.

Evaluate situations, offers and questions before agreeing to participate. Be honest about your feelings and the outcome you expect to achieve before you break ground. Refuse to let conflict turn into anger. Be prepared to go it alone if necessary.

Tiptoe through sensitive situations. Gathering and verifying information before you get into a debate is best. Know your objective and prepare meticulously, and you will conquer any challenge that comes your way. Personal improvements, fitness and a trendy new look are favored.

Stick to a budget, and you’ll have nothing to lose. Turn your ideas into a reality. Go to the experts for advice, and it will encourage you to expand your skills to meet your needs. Think outside the box.

Having choices will confuse you. Do the legwork required to understand the ramifications before making a decision that can alter your life. Reach out to someone you can rely on to tell you the truth, and you will get a broader perspective regarding the possibilities.

Stop procrastinating. Be the one to make the first move, embrace life and take responsibility for your happiness. Don’t fear the unknown or change when learning something new is an option. Let go of anger and regret.

Make changes at home that add to your comfort and convenience. Liven up your routine by incorporating healthy, fun activities that get you up and moving and encourage improved health and fitness. Personal gain, love and a new look are favored.

Let your imagination run wild, and put your energy into something you feel passionate about. Positive change will transpire. Opportunity is available, but you must let go of the past to take advantage of what’s ahead.

Your outgoing nature will work against you if you are too generous with your time and suggestions. Someone will quickly take advantage of you by using your ideas to beat you at your own game. Don’t trust anyone who strokes your ego.

Listen to reason, but don’t give up on your dreams. Adjust what’s out of reach and replace it with something else. Adaptability is where the magic begins. Think of possibilities and an outcome worth waiting for. Trust your instincts.

Be secretive and carefully plot your next move. You’ll accomplish the most if you are low-key and focus on finishing what you start. The element of surprise will give you the edge you need to beat anyone who wants to compete with you.

You’ve got what it takes to forge ahead. Don’t stop or doubt your ability to maneuver your way to victory. Trust and believe in yourself no matter what or who you take on. Hard work, dedication and confidence will get you where you want to go.

You are unwavering, genuine and influential. You are commanding and fortunate.

51

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Solution to today’s puzzle:

FROM left: Vanessa White, Victor Lirio, James Bradwell and James Cooney star in Repertory Philippines’ reinterpretation of Harold Pinter’s Betrayal.

www.businessmirror.com.ph

Image BusinessMirror

A

MCommunication plays a key role in ensuring that management direction is translated in a way that their team understands. This is extremely di icult especially if the instructions mean changes in the way people work and interact with other teams. Managers need to adeptly navigate how to communicate the management’s instructions without unduly burdening their team. At the same time, they need to manage their leader’s expectations to realistic and achievable levels. When managers are caught between a rock and hard place, they need to understand that their leadership will depend on how well they know their team and how to position them in the best possible light.

One way that leaders communicate when given a directive is to under- ilter or to provide no ilter at all. This happens when a manager announces to their team word per word the management instructions as if they were the one giving the directive. I had a group head in a previous organization who would

do the same. The company was family-owned and there were times when they would disagree on some decisions. My group head did not ilter the messages coming from the owners and she would just say the instructions as is and urged everyone to follow since it was a directive from the owners.

One e fect of her under- iltering was we lost respect for her because we knew she did not have the inal say, and she would just kowtow to whichever sibling could further her career. And since we knew she would just follow whatever management said, we also knew that we would not be properly represented to them. We did not trust her because we knew she would always take the side of management.

Since the company was family-owned, whenever she cascaded a directive from one family member, the other family members would question her and she ended up defending one relative from the others. Instead of focusing on managing her team, she spent most of her time managing the owners. Because of this, some le t the company while others started looking for work in other departments.

Another way that a manager under- ilters is when they react unnecessarily when given new directions. Because the leader reacts negatively, their team will also feel the same way about it. Managers need to know how to self-regulate so that when they are given new instructions that could a fect their team, they can focus on thinking of ways to communicate it e fectively to their team. When a manager does not have control over their emotions, their emotions will get the best of them.

If managers can under- ilter, they can also overilter. This happens when a manager only gives the bare essentials of instructions from management. This usually happens because the manager was not given enough details, or they have not fully understood the instructions. So, when they cascade it to their team, they cannot provide a reasonable explanation. Also, when managers do not clarify or ask for more information, they tend to provide vague directions or give confusing instructions.

I had one manager from a previous company who

would provide only general directions about new policies. One time, she announced that the company will be opening a new branch and that we should all be ready in the next six months because some of us were going to be assigned to that branch. Because the branch was too far, we asked a lot of questions on logistics and monitoring. But all she said was that it was management’s decision. This made some people anxious and they started looking for new work, or a house near the new branch. A ter three months, some team members had resigned.

It turned out that the management was still studying the idea of sending some members to the new branch and they had not yet decided if they were going to pursue it. When managers over- ilter, they leave out essential information that negatively impacts their team. When managers do not ask enough context to meaningfully communicate to their team, their team su fers. As team members, because we lack information we have to decide in our best interest. Instead of aligning ourselves to the change, we do not want to be part of it. It would have been better if we knew all the information and our manager could have cautioned us, but because she could not provide enough details, we decided to do what was best for us. This goes the same way for new projects. If managers are to provide meaning and clear direction, they need to fully understand the reasons behind any management directive.

A manager who does not clarify expectations and who does not know how the upper management’s directive will a fect their team will lose credibility in leading their team and will ind themselves with members who always complain or whose work is substandard or late. Top management will expect their managers to know how to translate their directives into actions and will expect managers to ask the questions that will make it easier for them to communicate the instructions to their team. In the end, it all depends on how well you know your team, and how well you maintain good working relations with the company’s top management.

Editor: Gerard S. Ramos

TAKI regular breaks from the fast-paced city life isn’t only a must to prevent burnout and promote overall well-being; it’s also crucial for achieving lifelong happiness. othing beats the restorative e fects of a well-deserved day at the spa. Tune out and escape from the demands of urban living at the luxurious Travertine Spa Wellness at Shangri-La Plaza, known for its curated roster of invigorating wellness o ferings.

While Travertine Spa Wellness is nestled right in the middle of the bustling city, it’s designed to transport you to a tranquil sanctuary where you’re greeted with a gentle hum of calming music and soothing ambiance. amed a ter the travertine rock o ten found in hot springs, this longevity and wellness hub is under the Avignon Clinic, an aesthetic, dermatology and wellness center replicating a -star hotel experience with a team of seasoned medical experts.

More than just your typical spa, its innovative services re lect its dedication to the intersection of luxury, longevity and wellness. Every journey at Travertine is unique. It o fers personalized wellness programs that are artfully designed to address individual needs. Each of these programs is designed by an internationally trained team of naturopathic doctors and nurses, ensuring that guests receive the highest standard of care and attention to detail.

ou can choose from a range of Spa Therapy treatments, which include the relieving Stress Escape Therapy, the classic Philippine Hilot, and the gentle Manual Lymphatic Drainage Earth Stone Therapy touted to reduce pu iness. It also has a set of Wellness Therapy treatments like the collagen-boosting Shockwave Therapy to reduce joint pain and increase skin elasticity, and even the stimulating Acupuncture and Sound Healing to help address pain, stress and sleep problems. Adding to Travertine’s lineup are its yoga sessions, giving guests a truly holistic approach to wellness.

The longevity and wellness hub also o fers a nearinfrared sauna, which uses light to penetrate body tissues, providing bene its like deep tissue heating, cellular repair, enhanced circulation, pain relief from the likes of arthritis, and increased energy levels and vitality.

“Travertine Spa Wellness is committed to the pursuit of a ful illing life. When we say Time for Travertine,’ consider this as an invitation to invest in your well-being at our tranquil suites, where self-care, mindfulness and vitality are not just practices but a way of life,” shares Myze Bangayan, general manager at Travertine Longevity Wellness. “We’re grateful that Shang understands this vision, making them a great partner as we aim to rede ine modern wellness.”

“Travertine

THE

ON a starlit evening on February 20, the Philippine Paint and Coatings Association, Inc. (PPCA) orchestrated a symphony of ambition and resilience, marking the commencement of a transformative era for the industry.

The Hilton Manila Hotel’s grand Ballroom in Newport City, Pasay, was the stage for this metamorphosis, at the 2024 Induction and Turnover Ceremony of new officers. Themed “Brushing Colors, Building Dreams: Unveiling the Palette of Progress,” the event saw the Philippine Paint and Coatings Association, Inc. (PPCA) commemorating industry milestones and looking towards a sustainable future.

The evening commenced with a moment of solemn reflection led by Director Kyrstel Hernando of RedaChem. Transitioning from introspection to festivity, Lana Roi graced the

stage with a captivating dance performance, seamlessly blending Filipino and Canadian artistry to underscore the beauty born of cultural fusion.

Throughout the evening, Ivanna Pacis, a candidate for the 2022 Miss World Philippines title, guided the proceedings with her magnetic charm and eloquence, embodying the dynamic spirit and promising future of the paint and coatings community.

Director Alix Reyes of Chemrez set the tone with a welcome address, inviting attendees to engage in a dialogue centered on innovation and progress.

The intellectual zenith of the event was a thought-provoking speech by Maria Corazon HaliliDichosa, Executive Director of the Department of Trade and Industry’s Board of Investments, who spoke on unveiling the “Philippine Chemical Industry Roadmap.”

This strategic blueprint, a collaborative effort

between government entities and industry leaders, underscores the pivotal role of technological advancement and adaptability in navigating today’s ever-evolving global landscape.

Secretary Renato Solidum Jr., the keynote speaker of the evening, shed light on the Department of Science and Technology’s initiatives aimed at propelling the paint and coatings sector towards sustainability.

From the development of ecofriendly materials to the exploration of natural dyes, Solidum’s address underscored the transformative potential of science and technology in fostering an industry that champions innovation while remaining conscientious of its environmental impact.

Moreover, the ceremony served as a platform to honor the dedication and accomplishments of the outgoing board, with President Charlie Kwa of Mayon Industrial reflecting on the milestones

DENR, PDRF hold climate forum; call for stronger partnership to address climate issues

tional Greenhouse Gas Inventory, and the National Determined Contribution Implementation Plan as part of an “integrated approach towards crafting new evidence-informed plans on mitigation and adaptation.”

These documents supported the National Economic Development Authority’s Philippine Development Plan 2023-2028 framework to accelerate climate action and strengthen resilience. She also mentioned that DENR is launching a National Natural Resource Development Transparency Initiative for Climate Resilient Development.

Yulo-Loyzaga also shared that DENR has taken actions to address issues regarding clean air and water, waste management, renewable energy, biodiversity, and minerals development.

CoChair Jaime Augusto Zobel de Ayala, MBC and MAP members, PDRF private sector partners, members of the UN Humanitarian Country Team, DENR, and Climate Change Commission (CCC).

In her keynote speech, DENR Secretary Maria Antonia Yulo-Loyzaga shared that they have completed the National Adaptation Plan, the Na-

“At the DENR we posit that there is a need to meld these in with others that support our mandate to maintain a balanced ecology for all Filipinos - namely laws on clean air and water, the Expanded National Integrated Protected Area Systems Act, the Extended Producers Responsibility law, the Renewable Energy Act and even our Philippine Mining laws. Our principal role of environmental stewardship and sustainable resource use is in engineering resilience through prevention,” she said.

Lastly, Yulo-Loyzaga urged the private sector

MBC elects Bobby Batungbacal as next executive director

THE Makati Business Club’s Board of Trustees has elected former Dow Chemicals Phils. Inc. country manager Roberto F. Batungbacal as the organization’s next executive director. Batungbacal will be taking over on March 15, 2024 from Francisco Alcuaz Jr., who will be departing to join the Bangko Sentral ng Pilipinas. A proper transition is already ongoing. Batungbacal served 28 years at Dow, including 16 years as Philippine country manager, before retiring in 2023. At Dow, he also served as an Asia Pacific Marketing Manager; a Regional Sales Director covering the Philippines, Vietnam, Australia and

New Zealand; and a Six Sigma Blackbelt leading projects in North America, Europe and Asia. He’s held leadership positions in the American Chamber of Commerce of the Philippines, Management Association of the Philippines, Federation of Philippine Industries, Samahan sa Pilipinas ng Mga Industriyang Kimika (SPIK), which he helped found, and other organizations.

He has a BS in Chemical Engineering from U.P. Diliman, and an Executive MBA from the Asian Institute of Management. He is a strong advocate of Philippine manufacturing, which is in line with MBC’s main job-creating and global

and other stakeholders to work with the government. “Mitigation, adaptation, and disaster risk reduction are critical elements in our race to resilience. These tasks must be informed by science and they are for the whole-ofsociety and not just the whole-of-government.”

In his opening remarks, Zobel de Ayala reminded everyone that the Philippines is the riskiest country according to the World Risk Index and that low levels of prevention and preparedness make our “vulnerability the highest.” “This is the primary reason we reorganized our mission and strategy at the Philippine Disaster Resilience Foundation. While we were established mainly as a relief and recovery-oriented foundation in 2009 after Typhoon Ondoy, we shifted our strategy to add preparedness, prevention, and resilience after Super Typhoon Yolanda,” he added.

One of the forum’s highlights was the high-level panel discussion with Yulo-Loyzaga, CCC Secretary Robert Borje, PwC Philippines Chairman Emeritus Alex Cabrera, MAP President Jose Rene Almendras, and MBC Chairman Edgar Chua. Moderated by PDRF Chief Resilience Officer Guillermo Luz, the discussion emphasized increased stakeholder collaboration and coordination to scale up climate efforts and achieve a more significant impact. Panelists also shared insights in promoting climate-friendly policies and regulations conducive to private sector investment in climate resilience and sustainability. Recognizing the urgency of the climate crisis, they called on other private sector entities to prioritize climate action and sustainable practices.

The delegates also signed a Commitment Wall to solidify their commitment and involvement in climate action.

PDRF President Butch Meily said that the forum is the perfect venue to start taking action.

“We stand at a critical point where reversing the impact of climate change may be beyond our grasp. This forum is an opportunity for us to unite as a community and make a difference, not just for ourselves but for future generations to come.”

competitiveness advocacies.

“Bobby’s experience as a CEO will be important to furthering MBC’s work with the government on economic policy and with corporations on inclusivity and sustainability,” said MBC Chairman Edgar O. Chua. “He’ll be a great representative of MBC, a strong voice in the board, a credible partner to our members, and a skilled leader of our staff.”

“I’m excited to take on this role in one of the most important organizations in the country,”

Batungbacal said. “My mission is so aligned with MBC that I consider myself very lucky to serve as executive director in MBC’s next chapter. Thank you to the board for this privilege and look forward to meeting and working with our

achieved during his tenure. The presentation of Service Awards to the PAPM Technical Committee and the Bureau of Product Standards Task Force 25 highlighted the collective efforts that have steered the association towards success.

Dr. Cecilio Pedro, President of the Federation of Filipino-Chinese Chambers of Commerce and Industry, delivered a poignant speech, tracing Lamoiyan Corporation’s journey from humble origins to becoming a paragon of corporate social responsibility. Quoting Howard Hendricks, Pedro reminded attendees, “The more you change, the more you become an instrument of change in the lives of others,” encapsulating the transformative influence of visionary leadership.

In his inaugural address, President Reginald Yu of Times Paint painted a vivid picture of the challenges and opportunities that lie ahead for the Philippine

paint and coatings industry. His impassioned call for a collaborative approach to innovation and sustainability resonated deeply, urging members to envision a future where the industry not only flourishes but also leads in global standards of excellence and environmental stewardship.

The evening was capped by an exhilarating performance by The CompanY, a fitting conclusion to a night celebrating the harmonious marriage of tradition and innovation.

As the Philippine Paint and Coatings Association, Inc. embarks on a new chapter, it does so with a collective determination to not merely navigate the future but to shape it. Armed with innovation as their brush and sustainability as their palette, they are poised to create a masterpiece that not only reflects their aspirations but also preserves the canvas of our world for future generations to build upon.

MGreen unit breaks ground for solar power plant in Nueva Ecija

GREENTECH S olar Energy, Inc., (GSEI) marked a significant milestone as it broke ground for its 18.75 MWac solar power plant in Bongabon, Nueva Ecija last February 21, 2024. GSEI, a subsidiary of MGen Renewable Energy Inc. (MGreen), the renewable energy arm of Meralco PowerGen Corporation (MGen), has set its sight on harnessing clean and renewable energy sources to power communities and drive economic growth.

The event was graced by representatives from MGen and MGreen led by EVP and Expanding Markets Division Head Dan Neil and Government Relations and Industry Affairs First Vice President Philip Dasalla, among others.

In his speech, Dasalla reaffirmed the Company’s commitment towards securing a sustainable future by building 1,500 MW of renewable energy projects by 2030, “As part of One Meralco’s long-term sustainability agenda and as we heed to the call of the government for the attainment of 35 percent renewable energy target mix by 2030, we will ensure, together with our dedicated partners, to efficiently serve the country’s growing power needs

members and partners.”

“We are lucky to get Bobby,” Alcuaz said. “I am confident he’ll nurture and expand the good in what we’ve built, and bring the experience and new ideas that MBC needs to serve the country better and better in the future.”

Alcuaz was elected executive director in 2018. He helped lead and expand MBC through the pandemic and the “new normal.” He stepped up MBC’s government engagement and legislative and regulatory advocacy, made externally funded projects with prestigious partners a major part of operations, and gave corporates the opportunity to support innovative series and events.

“Coco’s leadership was invaluable to the Board

with cleaner energy in cost-competitive manner.”

Also present at the event were representatives from its Engineering, Procurement, and Construction (EPC) contractor SUMEC Complete Equipment and Engineering Co. Ltd. led by Jason Wang, and from the local government unit including Nueva Ecija’s 3rd District Representative Rosanna Vergara, Bongabon Mayor Ricardo Padilla and Vice Mayor Christian Binuya, and Pesa Brgy. Captain Angelito Dela Cruz. Their presence underscored the importance of collaboration in driving progress and fostering a cleaner, greener future for the generations to come.

As construction commences on the solar power plant, GSEI remains committed to upholding the highest standards of environmental sustainability, community engagement, and operational excellence.

GSEI, which is scheduled to have its commercial operations date on the first quarter of 2025, is among the winning bidders in the Department of Energy’s (DOE) second round of Green Energy Auction Program (GEAP-2).

and to the staff especially during the challenging political context of the past administration and COVID-19. Coco was instrumental in transforming MBC’s focus and approach especially with the new political and economic climate. ” Chua said.

“From the beginning, Coco has been a stalwart promoter of our values. He helped us continue to balance economic growth with a social conscience.” Vice Chairman Jaime Augusto Zobel de Ayala said.

“As I told members in January, thanks to the board, our members, partners, and my amazing colleagues in the staff for the most fulfilling job of my life,” Alcuaz said. “I am full of admiration for you and hope can reciprocate your trust and support one day.”

HOLDING the Wall of Commitment are, from left, Butch Meily, Guillermo Luz, Jaime Augusto Zobel de Ayala, Edgar Chua, Environment Secretary Maria Antonia Yulo-Loyzaga, Secretary Robert Borje, Alex Cabrera, Jose Rene Almendras and Veronica Gabaldon.

HOLDING the Wall of Commitment are, from left, Butch Meily, Guillermo Luz, Jaime Augusto Zobel de Ayala, Edgar Chua, Environment Secretary Maria Antonia Yulo-Loyzaga, Secretary Robert Borje, Alex Cabrera, Jose Rene Almendras and Veronica Gabaldon.

Editor: Tet Andolong

Welcome the sun in the Filipino homes

By Rizal Raoul S. Reyes @ brownindio

IN ancient Greece, Helios was regarded as the god of the sun. Further, Greeks also believed he was traveling across the sky in a chariot from east to west on a daily basis.

Meanwhile, Beatles George Harrison’s classic hit “Here Comes the Sun” hailed the sun as a sign of hope. As people continue to confront daily challenges in their lives, the song from the Abbey Road album describes that stage as the “long, cold, lonely winter” will eventually change when the sun comes in.

Here comes Helios

THE entry of startup Helios in the local market is a big relief to many Filipinos who have to regularly reckon with the continuous increase in power rates. According to PowerPhilippines.com, Filipinos are paying one of the highest electricity prices per kilowatt hour (kWh) in Southeast Asia, second only to Singapore, according to information presented by the Philippine Center for Investigative Journalism (PCIJ).

Based on information from its January 2022 research, the PCIJ said Singapore has the highest rate P10.15 per kilowatt-hour (kWH) while the country’s electricity prices stood at P 9.86 kWH while Malaysia has the lowest price in the region at P 1.42/kWh.

In November last year, Filipino-

American Alex Aronson and Singaporean Hsin Yao Cheng realized they have a good opportunity to provide a solution to this problem. During their meeting, Aronson and Hsin Yao agreed that providing solar technology to residential homes would be a good business opportunity and also enable them to pursue their passion of serving customers.

“We settled on solar because we want to solve consumer problems. We started talking in November last year,” Aronson told the BusinessMirror in an interview in Makati City.

“Power consumption is one of the pain points of Filipinos and so Helios saw the opportunity to help Filipino consumers to reduce their monthly power bills,” Aronson added.

Aronson, co-founder and chief commercial officer (CCO) of Helios, said this is also giving back to his Filipino heritage with the mission of making solar power a default option for the Filipino family. Meanwhile, founder and partner Hsin Yao Cheng, a former investment banker now based in Singapore, wants to explore the business opportunity in the region

focusing on the consumer sector.

Furthermore, Helios wanted a solar program that is affordable and that’s easy to adopt and Aronson pointed out that using solar energy should be accessed by as many people as possible.

Helios is currently engaged in installing solar in residential homes, which actually can be easily installed with the assistance of a technical crew from Helios.

Aronson said every Helios customer will get a free consultation that comes with a free design to determine their ideal design based on their consumption. After finalizing the design, Helios will match the client with the best financing option available from its partner bank—the Bank of the Philippine Islands.

World’s largest Pullman-branded property soon to rise in Cebu

By Roderick L. Abad

MACTAN, Cebu—Global hospitality group Accor keeps on expanding in the Philippines with the signing of Pullman Mactan Cebu Hotel & Residences, which is set to become the largest Pullman property in the world with 1,100-key inventory.

Tytans Properties Development Chairman Gerard Tan was proud of their partnership with Accor, which will manage the premium property under the pioneering Pullman brand, renowned for its trendsetting concepts.

“Pullman are experts on managing, putting the software, and the lifestyle that they can offer. We are still in a learning position of how they do things. They’re the biggest operators, so they should be doing something right,” he told reporters during their ceremonial announcement of the signing of agreement for their partnership held at the Tambuli Seaside Resort & Spa in Mactan, Cebu last February 26.

On their part, Garth Simmons, chief operating officer of Accor, Asia, said that they are delighted to work with Tytans Properties Development on this project that shows Accor’s confidence in and commitment to the promising potential of the Philippines.

“Cebu City, with its distinctive blend of urban vibrancy and coastal charm, presents an ideal locale to cater to diverse markets. Pullman Mactan Cebu Hotel & Residences will attract a wide variety of homeowners and guests, from leisure enthusiasts to corporate travelers seeking extended stays. This project is poised to redefine premium living and hospitality experiences in Cebu,” he noted. The collaboration project is “at least a billion peso” investment to be funded through Tytans Properties Development’s combined internal fundings and loans, revealed Tan. He

Moreover, Helios expects to onboard other leading banks in the country to give clients the option to choose their prefeered bank.

Aronson assured all the materials in the solar equipment will be made from quality materials. Customer care services are given a premium as Helios offers a 24x7 support system. “We offer a 25year service guarantee for their clients.

Right now, Helios has completed seven solar mortgages and is currently finishing 100 solar installation projects.

According to its website, Helios cited three homeowners who benefitted from using Helios’ solar system. A Quezon City using a 12 kilowatt system is generating P13,000 monthly savings. In

Makati City, a Helios client is saving P10,000 a month using a 9 kilowatt system.

The partnership with BPI THE partnership with the Bank of the Philippine Islands (BPI) offers competitive interest rates on the solar loans. Through its bank partnership, Helios has been able to unlock favorable bank interest rates for the customers, providing more accessible and cost-effective financing options compared to inhouse financing from other solar companies, which might have significantly higher rates. It plans to sign up the other banks in the country.

“Solar basically has a simple design. Through satellite imagery, we match them with the client.We’re

happy with BPI,” he said. Typically, the average payback period for a solar energy system is around 4-5 years. However, with Helios, customers can potentially achieve an immediate payback if they zero out their electricity bills through the system’s performance.

Aronson said installing solar panels increases the value of the house. “Our bank partnerships enable us to unlock favorable bank interest rates for our customers, providing more accessible and cost-effective financing options compared to in-house financing from other solar companies, which might have significantly higher rates.

The next wave will be composed of developers, real estate brokers and contractors,” said Aronson.

Century Diamond Tower: A premier destination for businesses in Makati

MAKATI City, Philippines— February 15, 2024 – Century Diamond Tower, a Grade A, PEZA Certified office building by top real estate developer Century Properties Group (CPG) positions itself as a top choice for businesses looking for a space to lease as it redefines the standards of corporate excellence in Makati. Strategically located within Century City along Kalayaan Avenue in Makati City, this architectural gem offers unparalleled accessibility, flexibility, and prestige, making it the prime choice for discerning businesses.

ern, stylish, vibrant brand. And nothing like it yet here in Mactan and Cebu,” Accor Chief Development Officer Asia Andrew Langdon said. “Being the place which can be [ideal for] fun, [upscale] lifestyle, interesting economy, intense contemporary feeling and experience, we are very confident on the success of this project.”

of 900 branded residences—one tower of which is planned to be service apartment concept for extended stay.

Such room inventory, according to him, will be helpful to address the current “lack of rooms,” both for accommodation and housing, in Cebu amid the population growth and increase in tourist arrivals.

State-of-the-art amenities and full-service facilities include worldclass restaurants, contemporary lounges, collaborative leisure zones and forward-thinking corporate spaces.

“Pullman is a contemporary, mod-

Following closely in the footsteps of the well-received Pullman Residences in Singapore, set to open this year, Pullman Mactan Cebu Hotel & Residences is poised to set a new standard for branded residences in the Philippines, offering unmatched living experiences.

Accor’s branded residential properties are supported by Accor One Living, the group’s industry-first, mixeduse platform focused on supporting the development and operation of branded residential communities.

Through this, homeowners, guests, and partners are linked to Accor’s diverse ecosystem of brands, expertise, and solutions, fostering a continuous stream of new opportunities to live, work, and play.

Completed in November 2019, Century Diamond Tower features a sprawling 57,142.48 sq m. gross leasable area, catering to the diverse needs of local enterprises, multinationals, and startups alike. With a range of options including bare, warm shell, and fully fitted spaces, businesses can customize their office environments to suit their unique requirements, fostering productivity and innovation.

“The Century Diamond Tower represents a convergence of convenience, efficiency, and sophistication,” remarked Mr. Rey Dimaano, Chief Operating Officer of Commercial Leasing Assets at Century Properties Group. “Its strategic location within Century City places it at the epicenter of Makati’s vibrant business landscape, offering tenants a lot of opportunities for growth and success.”

Situated near major thoroughfares such as Ayala Ave., Sen. Gil Puyat Ave., Kalayaan Ave., and J.P. Rizal, Century Diamond Tower ensures seamless connectivity to key destinations within and beyond Makati. Additionally, its adjacency to premier residential towers including Milano, Knightsbridge Residences, Gramercy, and the mixed-use designer building Century Spire underscores its status as a coveted address for both work and play. A stone’s throw away from

Century Diamond Tower is Century City Mall, a central retail and shopping destination providing all the necessities and entertainment options within the Century City community and neighboring areas. Just beside Century Diamond Tower is Centuria Medical Makati, a one-stop, outpatient techno-medical center offering state-of-the-art facilities and advanced support systems for various medical needs. Furthermore, Century Diamond Tower is a walking distance away from the vibrant Poblacion district, a popular destination and a melting pot of culture known for its myriad of choices of restaurants, creative coffee shops, and nightlife spots.

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Vis-Min teams make mark in PAL Interclub

IMG-Tagaytay Midlands finished six points behind with 317 apiece. Zamboanga completed a rare sweep of the Aviator following its victory in the seniors’ event last week. Over at Del Monte Golf Club in Bukidnon, West Highlands rallied with 79 points to complete a sensational comeback from 25 points down in the first round.

Benedict Franco Ramos shot 31 points as West Highlands overtook overnight leader San Juanico Golf Park & Country Club to win by five with 286 points. Other scorers were Anthony Asuncion and Alex Trinos with 26 and 22, respectively.

San Juanico carded 72 for 281 behind John Rey Pactolerin (28), Don Vicente Mate (24) and Edson Malaki (20).

South Cotabato Golf Club settled for third with 263.

Del Monte Team 2. With Bayani Garcia and Jon Joseph Alvarez firing 35 points at Pueblo de Oro, CCC closed with 101 points for 391 points. The other scorer was Harvey Sytiongsa who carded 31 points.

Del Monte drew 35 from Simon Wahing, 33 from Keith Pagalan and 31 from Mark Ivan Parilla to secure second place with 380, five points ahead of Valley.

Canlubang, returning to the event after an absence of five years, missed a podium finish by a single point with 374.

In the Aviator division, Zamboanga Golf picked up its first-ever title with a come-from-behind victory over Pueblo de Oro Team 2. Team captain Eldon Elumba sparkled with 36 points to lead Zamboanga’s charge. Other scorers were Andre Lim and Reymond Moises with 26 and 20, respectively.

Pueblo de Oro Team 2 and Team

In the Friendship bracket, Edwin Andrews Air Base posted a 16-point win over Leyte Golf and Country Club despite being outscored at Del Monte.

EAAB finished with 227 points, including 66 from Al-Rieza Kinang (23), Jemson Cervantes (22) and Frederick Ian Capin (21).

Leyte Golf closed with 72 for 211 with Alexander Reyes (27), Xander Shaun Reyes (24) and Jerry Maratas (21) delivering the goods.

CAAGA wound up third with 207.

The 75th staging of the PAL Interclub was supported by diamond sponsors Mastercard and Asian Journal. Platinum sponsors included Airbus, Primax Broadcasting Network, and Araw Hospitality while gold sponsors are Tanduay and Asia Brewery.

OZEKI KAKERU recovered from a quadruple bogey on No. 15 with a birdie on the 17th to save a 69 and share the lead with Kuresh Samanodi at the start of the Philippine Golf Tour (PGT)

Q-School at the South Pacific Golf and Leisure Estates in Davao on Tuesday.

Both spiked their three-under cards with eagles but Kakeru missed seizing early control with that “7” on the par-three 15th, ruining what could’ve been a flawless start for the Japanese, who dominated the challenging layout with a blistering six-under card after 14 holes.

That featured birdies on Nos. 1, 7, 9 and 14 and an eagle on the par-five No. 12. But he hit a couple of errant shots on the par-three 15th, leading to a 7 although his late birdie kept him in step with Sumanodi, who rode on a fiery eagle-birdie-birdie run from No. 7 to fuel his drive for one of the coveted 30 berths in this year’s circuit organized by Pilipinas Golf Tournaments Inc.

Kakeru, a first timer here with a previous tournament win in 2018 back home, expressed satisfaction with his performance, labeling it the “best score here.”

Sumanodi, meanwhile, yielded a stroke on the 12th against a run of pars to produce a 32-37 for an early share of the lead with the Japanese, a stroke ahead of amateur Drew Proctor of the US, who also flourished with a bogey-free fourunder card after 10 holes, only to surrender a shot on the 12th.

Though he regained the stroke with another birdie on the 17th, Proctor hobbled at the finish, double-bogeying the par-5 18th to slip to solo third at 70.

Samonodi, who participated in a few PGT events last year, emphasized the importance of playing his game, hitting fairways and making crucial putts.

“You can’t force to make a birdie here at South Pacific,” said Samanodi, who made the cut here last year.

Amateur Aidric Chan, coming off a victory with the Manila Southwoods squad in the Interclub tournament in Cagayan de Oro last Sunday, hit three birdies to overcome a bogey and double-bogey for a 72 as he shared fourth place with Thai Saksit Jairak, Kei Matsuoka of Japan, American Collin Wheeler and local amateur Edmar Salvador Jr.

Joining the event as silver sponsors were ABS-CBN Global, Radio Mindanao Network and the Philippine National Bank. Visa was a minor sponsor while Must Glow joined as a donor. ora

NO surprise that the 75th Philippine Airlines (PAL) Interclub Golf went smashingly well as planned.

True to its calling as the diamond delight, the event exceeded expectations as not a single hitch marred the celebration of another milestone by the nation’s iconic flag carrier.

Profuse praise can only flood the road to glory. With such honorable men like PAL executive vice president Carlu Fernandez personally gracing the occasion to lend moral support, plus the constant shepherding of corporate communications bigwigs Josen Perez de Tagle and comely Cielo Villaluna, the competition known unofficially as the nation’s team golf championship was keen and tight but wrapped in grand sportsmanship from beginning to end during the two-week bash.

ESTEVE HORA JR. topped a sprint finish to win the men’s elite race of the Go For Gold Criterium Race Series 1 on Sunday at the iconic Sacobia Bridge in Clark, Pampanga.

Hora sliced through a highvelocity bunch and accelerated past his rivals in the final 75 meters to win the gold medal in 53 minutes and 30.97 seconds.

The designated sprinter from Standard Insurance nosed out Mervin Corpuz of Excellent Noodles Pro Team (53:31.00) and Go For Gold Cycling Team’s Aidan James Mendoza (53:31.10) in a daring display of speed, skill and grit.

“I saw the opening saw I gave it my all, I’m so happy I was able to prove what I’m capable of,’’ said Hora of San Manuel, Pangasinan.

Surprise, sting, shock at PAL Interclub golf

Del Monte won the Seniors and that didn’t shock. The team leaned on course familiarity to bamboozle the field. What was a pleasant surprise, though, was the admirable move by captain Yoyong Velez to employ only purely homegrown Del Monte players.

Fittingly, self-reliance, as Velez had commendably displayed, paid off.

Shockingly, however, Del Monte’s organic crew bombed out in the premiere Men’s Regular, where Southwoods stingingly rallied from 13 points to prevail over hard-luck Eastridge from faraway Binangonan, Rizal.

I had wished to also prevail in the side show PAL Interclub Media Golf. It would have been huge as I had nailed the PAL Media Golf golden tournament in 1997. No luck.

e camera of the Ph lippine national women’s cycl ng team (whit

Veteran Ronald Oranza of Standard Insurance checked in fourth, sharing the time with Mendoza, while Marc Ryan Lago also of Go For Gold was 21-tenths of a second back. With more than 400 cyclists who raced in 10 different categories, the kick off of the three-leg race series supported by Go For Gold, Scratchit, Magene, SPN Cycle, Booster C Energy Shot, Hytera, Cycles and Brew and Royce Hotel aims to bring back the animated local atmosphere in the sport.

“Quality races have significantly decreased here in the Philippines. We want to bring them back starting with this criterium series,” said Go For Gold founder Jeremy Go.

tional women’s cycling team in Vietnam Former multi champion Mark John Lexer Galedo takes a surrea shot with his mobi e phon Tuesd Capital1 books 1st win Rica Rivera sets the p ay as Capital1 break s into the win column—25-18, 25-20, 19-25, 25-20 over fellow newcomer Strong Group in the Premier Volleyball League All-Filipino Conference at the Ph lSpor ts Arena n Pasig Cit y Tuesday.

Kim Bonilla swept the women’s junior and open categories with the all-around rider from Team Bikexzone/Champbullies getting the better of her veteran teammate Jermyn Prado in the open class.

Blackwater eyes 3-0 start in duel with FiberXers

BLACKWATER eyes its best start in 10 years since joining the league as the Bossing take on Converge Wednesday in the Philippine Basketball Association (PBA) Philippine Cup eliminations at the Smart Araneta Coliseum. At 2-0 won-lost—a record they share this early in the tournament with a similarly unusual hot starter Terrafirma Dyip—the Bossing could go further unbeaten if they tackle the cellar-dwelling FiberXers (0-2) in the 4:30 p.m. curtain raiser.

“It’s too early to tell because we’re still starting right now,” said Blackwater head coach Jeffrey Cariaso, whose top Bossing have been churning in the numbers. “We all understand completely what we have to do and to give our best each and every game.”

Bonilla topped the open in 49:06.07 before Prado arrived (49:24.62) followed by Althea Campana (50:28.12) to complete the podium.

Man, I was just three down with a round left. But just three holes into the moment of truth, I was 18 over. Ugh! In the evening, I swigged the blues away with Jake P. Ayson at the Luxe Hotel bar. Why whine? Golf is golf. The most unmanageable game ever invented; a runaway train, mostly, to divot-diggers like me. Father Time wins all the time. So, with Mindanao Edge’s Chito Malabanan, who also

A healthy Troy Rosario exploded in back-to-back games—15 points in the Bossing’s 93-93 victory over Meralco and 20 points in an 87-76 triumph against his former team TNT.

After producing zero against Meralco, RK Ilagan went from nil against Meralco to 15 points, eight assists and seven rebounds in that TNT win.

Rey Nambatac—27 points and 10 assists against the Bolts—is a doubtful starter with a right ankle sprain.

“Let’s see if he can play but to have him in few minutes, that’s going to be a good factor every game,” Cariaso said.

Meralco and NLEX try to break loose from a 1-1 tie when they collide at 7:30 p.m. second game.

Meralco beat Rain or Shine in overtime, 121-117, last Saturday to rebound from that loss to Blackwater, while NLEX defeated NorthPort, 107-100, before losing to Terrafirma, 99-95, last Sunday. Josef Ramos

faltered after grabbing the first-round lead, on the piano, we burned the night away, belting classics like Jake’s fave, “Mona Lisa,” and several more like, “Portrait of My Love,” “Strangers in The Night,”