BusinessMirror May 05, 2022 by BusinessMirror

Palace: E-sabong revenue loss can be filled B S P. M @sam_medenilla

 J M N.  C @joveemarie

M THE WORLD »A9

BEIJING CLOSES 10% OF SUBWAY STATIONS TO STEM COVID SPREAD

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

ALACAÑANG is confident additional revenues could be found to replace the P5 billion to P6 billion to be lost from the banning of e-sabong (online cockfighting) activities. Acting Presidential spokesman Martin M. Andanar said they expect the Philippine Amusement and Gaming Corporation (Pagcor) to offset the revenue gap. “As to the other sources of income, we are confident Pagcor has the ability to generate new rev-

enues,” Andanar said in a virtual press conference on Wednesday. Late Tuesday, President Duterte decided to stop e-sabong operations nationwide, citing the results of the Department of the Interior and Local Government (DILG) on the social cost of gambling in some local government units (LGU). Duterte said the ban will take effect once he comes out with the issuance for its implementation. As of May 4, 2022, Andanar said the Malacañang Record Office still has no copy of the said issuance. In a television interview on Wednesday, however, DILG spokesman Jonathan E. Malaya said they have already started implement-

ing the policy based on the public statement of Duterte. Malaya said the ban could affect 5 million e-sabong players nationwide. Pagcor earlier said the ban will cost the government P5 billion to P6 billion. Malaya said they hope the affected players will just go back to traditional face-to-face cockfighting, which is held on definite schedules instead of the e-sabong, which is conducted 24 hours everyday. Former speaker Alan Peter Cayetano on Wednesday reiterated his call for the complete banning of esabong and all other forms of internet gambling.

Taguig Rep. Cayetano, in a statement, thanked Duterte for putting an end to e-sabong operations in the country, saying it was an affirmation of the Filipino values that keep the country strong. “The Bible says a man reaps what he sows. E-sabong may have been generating some income for the government, but the cost has been too heavy on the lives of the people,” he added. “We want to thank God for molding our nation. We want to thank the President for hearing the effect on the values of our next generation,” he said. C  A

BusinessMirror A broader look at today’s business

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

(2017, 2018, 2019, 2020)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

ERC ORDERS MERALCO: www.businessmirror.com.ph

■

Thursday, May 5, 2022 Vol. 17 No. 207

P.  |     | 7 DAYS A WEEK

REFUND P7.75B TO USERS Full-yr PSA data for ’21: 4-M Pinoys still jobless

B L L @llectura

HE Manila Electric Co. (Meralco) was directed to refund customers a total of P7.75 billion, which is equivalent to P0.47 per kilowatt hour (kWh) for residential customers, to be carried out this month. In a 51-page order, the Energy Regulatory Commission (ERC) said its review of Meralco’s regulatory asset base (RAB) resulted in a reduction of the utility firm’s previously approved RAB for the Third Regulatory Period (3rd RP). “This reduction requires Meralco to refund the amount of P7.75 billion for a period of 12 months, equivalent to refund to residential customers of 46.69 cents per kwh. This is equivalent to a P93 refund for a residential customer consuming 200 kWh,” ERC commissioner Atty. Rexie Digal said Wednesday. The ERC order, dated March 8, was made public on Thursday afternoon. In evaluating the said issue, the Commission considered the principle of full recovery of prudent and reasonable cost as required under Electric Power Industry Reform Act (Epira). “With the re-computation of the opening RAB for the 3rd Regulatory Period [RP] of Meralco, the Commission conducted further review in relation to the inflationary considerations and assumptions regarding the RAB incorporated in the calculations used in the 3rd RP,” the agency said. Meralco confirmed this. “The refund will appear as a separate line item in the power bills starting May,” it said. Of the P7,755,444,758 to be refunded to Meralco customers, P4,868,719,146 (P0.4669 per kWh) is for Residential and General Service A; P441,844,751 (P0.3063 per kWh) for General Service B; P2,353,343,357 (P0.1334 per kWh) for General Power; P32,422,886 (P0.1971 per kWh) for Government Hospitals, Metered Streetlights, and Charitable Institutions; P43,539,550 (P0.4853 per kWh) for Flat Streetlights; and P15,575,068 (P0.0619 S “ERC,” A

PESO EXCHANGE RATES

B C U. O @caiordinario

EARLY four million Filipinos were still considered jobless at the end of 2021, according to the latest full-year employment data released by the Philippine Statistics Authority (PSA). The preliminary full-year estimates of the PSA showed the country’s unemployment rate was at 7.8 percent at the end of last year. Unemployment rates in the National Capital Region (NCR) and Region 4A or Calabarzon were still in double-digits at 10.6 percent. This was followed by the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) at 9.2 percent; Region 5 or the Bicol Region and Region 1 or the Ilocos Region, 8.2 percent; and Region 4B or Mimaropa, 7.9 percent. “Of the total 47.7 million economically active population 15 years old and over, 3.71 million were unemployed, which resulted in the country’s unemployment rate at 7.8 percent in 2021,” PSA said. PSA said in 2021, Olongapo City had the highest unemployment rate at 14.4 percent, accounting for 14,670 unemployed persons out of

A PEDICAB driver drives past a shuttered Pitmasters Live outlet in Pasay City, businessman Atong Ang’s e-sabong franchise. President Duterte has ordered the termination of online cockfighting operations in the country and Ang, the biggest player in the trade, said in a TV interview his firm would comply. See related story on e-sabong on A14. NONIE REYES

S “F-,” A

TRAFFIC DISRUPTING SUPPLY CHAIN; LOGISTICS COST HIGHEST IN PHL B A E. S J

HILIPPINE logistics cost is highest among Asean neighbors, with traffic as one of the barriers to supply chain management, industry players said. “So our logistic costs, percentage of sales is 25 percent, meaning it takes almost one-third of the cost of the product to get to you, that’s very high,” Insight Supply Chain Solutions CEO Pierre Carlo Curay said during the General Membership Meeting on May 4 via online. Curay emphasized that the Philippines is actually the highest among Association of Southeast

Asian Nations (Asean) members in terms of logistic cost. Meanwhile, the average logistics cost among the developed countries are ranging from 10-11 percent, which according to Curay, “makes the Philippines more than double in terms of cost.” Curay cited traffic and transportation problems as some of the culprits behind the high cost. “Most of the time transport is one of the industries that’s being penalized by different policies that slows down traffic and increase cost. We have a truck ban, single lane, we have the number coding scheme, this is something that

adds more burden aside from the traffic,” said Curay. For his part, former Consultant on Urban Transport for Japan International Cooperation Agency (JICA) Engineer Rene Santiago laid out the things to consider in the post-Covid situation of traffic in Metro Manila. Santiago said the good news is that “the travel demand is likely to shrink below 18 percent, below the pre-Covid level,” citing as an example a giant business process outsourcing (BPO) firm which opted to stick to the work-fromC  A

■ US 52.2970 ■ JAPAN 0.4020 ■ UK 65.3869 ■ HK 6.6639 ■ SINGAPORE 37.7896 ■ AUSTRALIA 37.1047 ■ SAUDI ARABIA 13.9433 ■ EU 55.0478 ■ CHINA 7.8933

Source: BSP (May 4, 2022)

News BusinessMirror

Thursday, May 5, 2022

Full-yr...

C  A

101,880 persons in the labor force in the city. This was followed by Camarines Norte, with an unemployment rate of 14.1 percent and represented 33,000 unemployed Bicolanos. Other cities and provinces with high unemployment rates were Taguig City and Lanao del Sur at 12.4 percent; Isabela City, 12 percent; Cavite, 11.9 percent; and Caloocan, 11.3 percent. “Compared to 2020 provincial unemployment estimates, there were no provinces or HUCs with an unemployment rate greater than 16 percent in 2021,” PSA said. “It is also worth mentioning that there is an observed increase in the number of provinces and HUCs with unemployment rates lower than 5 percent,” it added. In 2021, the total number of employed persons was accounted for at 43.99 million. This accounted for 92.2 percent of Filipinos who are at work or with jobs out of 47.7 million Filipinos in the labor force. Among the regions, Region 9 (Zamboanga Peninsula) had the highest employment rate at 96 percent followed by Mimaropa at 92.1 percent; Region 1 or the Ilocos Region, 91.8 percent; and Region 5 or the Bicol Region, 91.8 percent. Other regions such as Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) had an employment rate of 90.8 percent; Region 4A or Calabarzon, 89.4 percent; and NCR at 89.4 percent. These were the provinces and cities that registered employment rates lower than the national estimate at 92.2 percent.

www.businessmirror.com.ph

8 political parties send Comelec manifesto for clean, orderly polls

B J M N. D C

@joveemarie

IGHT political parties on Wednesday signed a manifesto calling on the Commission on Elections to ensure the conduct of honest, orderly and peaceful elections on Monday.

The eight, led by Lakas Christian-Muslim-Democrats (CMD) and Partido Federal ng Pilipinas (PFP), made the appeal in a joint manifesto, which was also supported by Hugpong ng Pagbabago (HNP), Nacionalista Party (NP), Partido ng Masang Pilipi-

no (PMP), National Unity Party (NUP), PDP-Laban and Reform Party. “On May 9, our people will again troop to the polls to exercise their right to choose the nation’s leaders. The right to suffrage is inviolable, and the people’s will must be re-

spected,” the political parties said in a statement. “As leaders of our respective political parties, we now join hands and stand with the Filipino people in sounding the clarion call for an honest, transparent and orderly elections. Toward this end, we make the following appeal to the Commission on Elections,” they said. Their manifesto then enumerated several suggestions, which include ensuring that all vote counting machines (VCMs) are in place and operational in all polling precincts on Monday, and that spare VCMs are available in case some malfunction or are found to be defective. The eight political groups added that there should be no delay in the transmission of votes from the pre-

cinct to the canvassing and tabulation centers, and that there should be transparency in such transmission. They urged the Comelec to “set in place all the safeguards necessary to avoid possible glitches in counting, transmission and canvassing of votes.” “With days to go before May 9, we trust that all systems are now in place to hold a fair and free elections. We trust in the integrity of our Comelec commissioners, and we believe in the honesty and competence of all men and women supervising the elections,” the groups said. “We join our people in praying that the results of the 2022 elections usher in a new era of peace and development for our country and for our people,” they said.

TRAFFIC DISRUPTING SUPPLY CHAIN; LOGISTICS COST HIGHEST IN PHL C  A

home arrangement. The BPO giant, which Santiago did not name, has thousands of employees working from home. Another perspective to look at in terms of traffic situation is the increasing volume of cars on the road because they feel safer rid-

ing their private cars, shying away from the crowds to avoid infection. Santiago noted that car sales went up by 19 percent in 2021. He also thinks there will be a shortage of buses and jeepneys. In fact, the government intentionally reduced 8,000-plus buses to 4,500 by canceling their franchises. “It required all jeepneys, about

60,000 of them, to reapply on new routes that have not yet been defined up to now,” said Santiago. On top of these transportation problems, Santiago said, “we have made the streets of Metro Manila very dangerous with concrete barriers all over the place, so they promote accidents.” He highlighted that the only “bright spot” are the motorcycles, as they have been the lifeline during the Enhanced Community Quarantine (ECQ). With these observations, Santiago said that “public transport is a private sector obligation being regulated by government.” He thinks that the only solution is to decouple mobility from urban and income rise. “This is what I call the urban dynamics: as the metropolis grows, it attracts more population or more employees, more work force lead to more trips and longer trip busi-

nesses,” said Santiago. For his part, Curay added that the Philippines must eye for a “working railway” to curb the country’s supply chain problems. “However when we develop the railway, when we push for the railway, it has to be integrated with the supply chain with the ports, with the airports, with the seaports, and you know that cuts across,” said Curay. On seaports, Curay said: “One of our recommendations again is seaports capacity adjustment, so we’ve been asking if we can spread out the distribution of the containers, not only in Manila; we decongest Manila and then put it to our North and South ports that can handle this container, transport delivery.” The more integrated the supply chain is, according to Curay, the more efficient it becomes.

ERC...

C  A

per kWh) for General Wheeling. “In view of the following, and pursuant to Sections 2 and 41 of the EPIRA, the Commission hereby issues an interim relief to allow the implementation of the foregoing refund to ensure the promotion of consumer interest, subject to the fi nal evaluation of the respective instant applications,” the ERC said.

PALACE: E-SABONG REVENUE LOSS CAN BE FILLED C  A

The President also said esabong was “working against our values”—one of the main reasons Cayetano had been opposing it since September 2021 when the House of Representatives gave a franchise to the first e-sabong operator. Cayetano said, “President Duterte’s decision solidifies our position that e-sabong is harmful to the people and to the nation. What the government earns from these online gambling operations pales in comparison to the losses the people incur in terms of gambling debt, crime, the breakup of families, and much much more,” he added. He pointed to the rising number of crimes related to e-sabong, including the disappearance of 34 sabungeros early this year with some police officers allegedly involved. He also cited the cases of some police officers resorting to robbery and of a woman who sold her baby—all to pay off their gambling debt.

Vacation-hungry OFWs in Dubai told: OEC verification can be done in PHL B M T-B @maloutalosig

VERSEAS Filipinos workers in the United Arab Emirates have been reminded that they can renew their Overseas Employees Certificate (OEC) and their membership with the Overseas Workers Welfare Administration (OWWA) in the Philippines, and not necessarily in Dubai or Abu Dhabi. This reminder came up as thousands of OFWs have been flocking to the Philippine Overseas Labor Office in Dubai and Abu Dhabi. Some even resort to camping overnight outside the POLO grounds or queue as early as 4am so they can get the chance for their documents to be processed. Labor Attache John Rio Bautista said the influx of OFWs applying for OECs and contract verification stemmed from the desire of Filipinos to come home as the Philippines relaxed its Covid-19 health protocol for arriving overseas Filipinos. However, before the OFWs can return to the UAE, they need to renew their OEC and one of the requirements for OEC renewal is for the POLO to verify if their employment contracts are still valid. “Ako po ay humihingi ng inyong pang-unawa sapagkat napakarami pong kliyente ang dumarating ngayon. Eto po ay hindi namin inaasahan sapagkat nitong mga nakaraang araw, mga 300-400 ang aming sineserve. Pero ngayon po ay mga 700800 ang dumarating sa kadahilanang gusto nilang magbakasyon,” Bautista

LABOR Attache John Rio Bautista

said in an interview with ABS-CBN The Filipino Channel. [We ask for your understanding because many clients are coming these days. We did not expect that, because we usually serve 300-400 people. But now 700-800 are coming because they want to go on vacation]. “Isa rin pong kadahilanan [ng pagdagsa mga OFWs sa POLO] ay lumawag na rin po ang pag-uwi sa Pilipinas. Wala nang quarantine. Nagmura na rin ang ticket. Unlike nung December...At mahaba po ang

bakasyon dito sa Dubai dahil nagkaroon ng Ramadan at Eid. Ito po ay sinamantala ng mga kababayan natin para makauwi sila,” he added. [One reason for the flocking is that rules for coming into the Philippines have been eased. Quarantine is no longer required. Tickets are now cheaper, unlike in December. And vacation here in Dubai is long because we had the Ramadan and the Eid]. Bautista said to address the long queue, they have started to implement an appointment system. Starting May 4, POLO Dubai is no longer entertaining walk-ins for OEC, contract verification, renewal of membership for OWWA or Social Security System (SSS), or payment of Pag-ibig Fund premiums. Instead, OFWs should log in to their web site https://www.polodubaiportal.org/ before they can be accommodated inside the POLO. Around 500 slots have been opened every day starting May 4. POLO-Dubai said most of the OFWs applying for contract verification lately were those who entered Dubai using visit visa only, or those who transited from a third country, and were hired while already in Dubai. Verification of contracts of these OFWs who converted their visit visa to work visa is needed to better protect them from potential abuses from employers. Those who entered Dubai or Abu Dhabi with work visas and POEAapproved contract can simply renew their OEC online through POEA Online Processing System for Balik-Manggagawa or POPSBaM (https://www.bmonline.ph/).

Economy BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Thursday, May 5, 2022 A3

Revenge travelers are splurging like there’s no tomorrow By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

OR revenge travelers, money is no object. Tourism leaders and stakeholders representatives said on Wednesday during the BusinessMirror’s Coffee Club that many Filipinos who were locked down for two years during the pandemic are now spending on expensive hotels and airfare, even extra tours and purchases, just to enjoy their vacations with their families. “We really felt the revenge tourism during Holy Week,” said Fe Abling-Yu, president of the Philip-

DOF seals loan for W. Visayas bridge project

pine Tour Operators Association (Philtoa). “[Prices] of accommodations and airfare were so high and just the same, there were takers. These days, no one is talking about prices anymore. Everyone just wants to get out of their houses. And before, those who traveled were just mothers and fathers, now it’s multi-generational, everyone is brought along for the vacation,” she added. Prior to the pandemic, in 2019, whenever people went on vacations and visited resorts, they just went for the swimming, she noted, but now they even pay for extras like “dinners at the beachfront.” Alex Aquino, head of marketing for Swissotel Clark and Widus Hotel and

HE Philippines and South Korea exchanged on Wednesday their copies of the agreement for the $56.6-million loan to finance the engineering services for the Panay-Guimaras-Negros Island Bridges project.

Casino, echoed the same: “Now people really look for meaningful experiences. When they spend, they really splurge. They would buy what they like, they would spend on what they really want, to maximize their per night stay. And they will do what they can, not just in the hotel, but also in the nearby attractions and points of interest.” Sue Geminiano, marketing manager of Hotel Sogo, added this pandemic taught many, “Money is not important. More important is our memories with our loved ones. Because of the loss many felt [for those who passed away during Covid] and because the pandemic leveled all businesses, the non-tangibles became important like saying ‘I love you’ to our

Finance Secretary Carlos G. Dominguez III and Export Import Bank of Korea-Economic Development and Cooperation Fund (KEXIM-EDCF) Executive Director Tae-Soo Kim received from each other their copies of the loan

families, giving presents, this is now their gift to their families, to bring them out and travel. They no longer cared how much they earned or save, but what would make their families happy…. So majority is splurging.”

Post-Holy Week, bookings are still up

FOR her part, Margarita Munsayac, vice president of Bluewater Resorts, said bookings have been consistent at their properties even after the Holy Week. “These are summer months and traditionally have high occupancies, not only for leisure staycations, but also for MICE [Meetings, Incentives, Conferences, Exhibitions], and social events. You will see a lot

accord that was signed last month. Acting Secretary Roger Mercado of the Department of Public Works and Highways, Korea Ambassador to the Philippines Inchul Kim, and KEXIM-EDCF Country Director Jae-Jeong Moon were

of people getting married, you will see a lot of companies having teambuilding activities, and a lot of staycation guests as well. When before we used to have problems during weekdays, now we have sustainable occupancies all days long,” she said. She added, she looked forward to June when international travelers are expected to visit the country. Tourism Promotions Board Deputy Chief Operating for Marketing and Promotions Charles Aames M. Bautista, said the Philippines is now receiving a lot of interest from new markets like Russia, South America, from Australia and New Zealand. “We do encourage everyone to maximize these opportunities to marketing their businesses in

also present at the ceremony at the Department of Finance (DOF) office in Manila. The Panay-Guimaras-Negros Island Bridges project is among the big-ticket items under the Duterte administration’s infrastructure modernization

those countries,” he said. He added, one of the things that attracts foreign tourists to the Philippines is the “culturally-sensitive” staff of many accommodations and destinations. “We’re more sensitive to the needs of tourists; that’s one of the things we need to cultivate because we are one of those destinations that do embody sustainability and inclusivity.” Abling-Yu, who is also general manager of Arfel Travel and Tours, said Philtoa is now developing other destinations outside of those regularly visited. She encouraged tourists to check out Zamboanga along with Tawi-Tawi and Basilan, for its beaches; as well as Legazpi-Naga-Sorsogon for adventure tourism and MICE.

program “Build, Build, Build” program. With a total estimated cost of P187.54 billion,thePanay-Guimaras-NegrosIsland Bridges Project is expected to commence engineering services this year, and begin construction in 2025. Bernadette Nicolas

A4 Thursday, May 5, 2022 • Editor: Vittorio V. Vitug

The Nation BusinessMirror

www.businessmirror.com.ph

18,672 security, education personnel deployed for poll duties By Rene Acosta @reneacostaBM

OVERNMENT agencies, including the Philippine National Police (PNP) and the Armed Forces of the Philippines (AFP), sent to election duties more than 18,000 personnel in a ceremonial send off and turnover ceremonies at Camp Crame. The event was witnessed by Commission on Elections (Comelec) Chairman Saidamen B. Pangarungan, who also revealed he had also placed the town of Pilar in

Abra and the province of Misamis Occidental under the direct control of the poll body. Pangarungan said the Comelec has placed Pilar under its control upon the recommendation of their regional director in the Cordilleras after one of the security personnel of the current vice mayor was killed when a security convoy sped through a police checkpoint and allegedly engaged policemen in a shootout. PNP chief General Dionardo Carlos said he would also relieve and replace the whole team of po-

l icemen i n t he mu n ic ipa l it y upon the recommendation of the Comelec. During the send off and turnover ceremonies led by the PNP at Camp Crame, a total 18,672 policemen and soldiers, and personnel of the Philippine Coast Guard and the Department of Education (DepEd) were deployed to support the holding of a secure, free and fair elections. PNP Public Information Office Chief Brig. Gen. Roderick Augustus Balba said a contingent of 596 PNP personnel, 400 AFP personnel, 100 Coast Guard personnel and a hundred from DepEd attended the ceremonies. “The event showcased the blessing of all deployable members of the

security forces and resources that include the simultaneous operation of all equipment, vehicles as well as the placing of sticker on selected PNP vehicles by Comelec Chairperson Saidamen B. Pangarungan who was assisted by PNP Chief Police General Dionardo Carlos,” Balba said. The ceremonies highlighted the solidarity messages of Coast Guard Admiral Artemio Abu, AFP Chief of Staff General Andres Centino, Carlos and the final guidance of Pangarungan. “The PNP, as one of the deputized agencies of Comelec, has started all security preparations as early as May 2021. Your Philippine National Police planned ahead and took all considerations for any contingen-

cy. Your Philippine National Police will be present to perform before, during, and after the elections and we are staying focused on the task ahead,” Carlos said. “So, we will stand strong, we will finish strong and we will perform professionally for peaceful elections. The 225,000 strong men and women of the PNP are one with Comelec and other members of the security forces to make sure that we guard the votes of the Filipino nation. This is our commitment. And to the Filipino people, your PNP will be there in all polling centers and voting precincts to make sure that your votes will be counted,” he added. On the other hand, Centino said the military would work with its

partners in order to ensure that the elections would be orderly, peaceful and credible. “As one of the institutions deputized by the Comelec for this coming election, the AFP is one with our valued partners from other government entities, law enforcement agencies, and the other sectors of our society to ensure a free and orderly exercise of our right to suffrage,” Centino said. “This send-off ceremony signified the AFP’s resolve to synergize its effort and resources with its fellow public servants to perform its duties and responsibilities this coming national and local elections with utmost professionalism, credibility and impartiality,” he added.

Binay camp shrugs off Mocha’s Comelec petition vs ex-VP By Claudeth Mocon-Ciriaco @claudethmc3

HE camp of senatorial candidate Jejomar “Jojo” C. Binay laughed off a letter filed by Mothers for Change (MOCHA) first nominee Mocha Uson to the Commission on Elections (Comelec), urging poll body to look into the state of health of the former Vice President. Binay’s spokesman Joey Salgado said he finds Uson’s letter not only “laughable” but also “pathetic and desperate.” “This so-called petition is laughable, pathetic, and desperate,” Salgado said as he described the move as mere criticism aimed to destroy the name of Binay who has a

good track record as a public official. Salgado also questioned the timing of the petition, which was filed after Binay’s senatorial bid was endorsed by the influential Iglesia ni Cristo. Binay is also included in the surveys of top 12 senatoriables. In her letter to the Comelec, Uson stated that a “ grave injustice will be committed to the voters if Binay would be elected.” She expressed doubts if Binay could still perform his functions mentally and physically. She cited that Binay is not even visible in most of the political rallies. For his part, Binay, replying to Uson’s so-called petition, said: “Kumusta mga kababayan…Mainit dito sa Isabela.”

Salgado also stressed that from the beginning of the campaign, Binay already made it clear that he will not join the rallies of presidential candidates who invited him as their guest senatorial candidate. Salgado said that as of May 3, Binay was in Cagayan and Isabela. On May 2, he was in Davao City and paid a courtesy call to vice presidential frontrunner Mayor Sara Duterte. On May 1, Binay visited the provinces of Soccsksargen. He also met with former president Gloria Macapagal -Arroyo in an earlier appointment. “He’s [Binay] very busy campaigning at the moment.” Salgado said.

Uson, in her petition, urged Comelec to look into the supposed declining health condition of Binay. In a letter she submitted to the poll body, Uson expressed concern on the reported “poor health” condition of Binay. “For those who have been following the former Vice President’s career, his silence is completely uncharacteristic. And given the reports on his supposedly failing health, quite alarming,” Uson said. “I do not hold any personal animosity against Mr. Binay, and I sincerely hope that the reports are untrue and that he is in fine health. If that is the case, then I wish him well in the coming elections,” she added. With Samuel P. Medenilla

News BusinessMirror

www.businessmirror.com.ph

DAR distributes 525 c-titles in Bicol region

HE Department of Agrarian Reform (DAR) in Bicol region distributed its first computerized individual land titles (c-titles) to agrarian reform beneficiaries (ARBs) who were previously awarded lands under collective certificates of land ownership award (CCLOAs). Led by DAR Secretary Bernie F. Cruz, the distribution of 525 c-titles covering 965.2426 hectares of agricultural lands to 522 ARBs on Monday, May 2, aims to strengthen the farmers’ land tenure security and property rights over their lands. “This is the legal proof and the security of your individual land rights. We expect that this will encourage you to invest in your property and adopt better technologies for greater productivity and higher incomes,” Cruz said in a news statement issued on Wednesday.

DAR Bicol regional Director Rodrigo Realubit said this is the first set of c-titles distributed in the region. “We have gone through the tedious process of validating the lands and resolving various land issues and disputes among the farmers. We ensure a fair and just issuance of new, individual, and computerized land titles to these ARBs,” he said. The distributed lands are from the provinces of Albay with 66.16 hectares; Camarines Norte, 243.89 has.; Camarines Sur A, 129.59 has.; Camarines Sur B, 113.88 has.; Masbate, 220.31 has.; and Sorsogon, 191.38 has. “We have been waiting for a long time for this day to happen, to have a clear and defined ownership of the parcels of land we are tilling,” said Rogelio Sabas, 66, an ARB from Bariis, Legazpi City. Jonathan L. Mayuga

Thursday, May 5, 2022 A5

DTI-CPG reminds traders to comply with fair trade laws in doing business By Andrea San Juan

HE Department of Trade and Industry (DTI) on Wednesday reminded business owners and establishments to disclose prices in compliance with fair trade laws. The DTI Consumer Protection Group (DTI-CPG) urges online and physical store owners to comply with the provisions under Republic Act 7394 or the Consumer Act of the Philippines and the Republic Act 7581 or the Price Act. Article 81 of RA 7394 or the Consumer Act of the Philippines requires appropriate tags, labels, or markings that indicate the prices of consumer products sold in retail. With these,

products must not be sold at higher prices than stated. Meanwhile, Section 5 of RA 7581 or the Price Act stipulates that selling a basic necessity or prime commodities without a price tag is prima facie evidence of profiteering. To strengthen the implementation of the Price Act and Consumer Act, the DTI along with concerned government agencies such as the Department of Agriculture (DAR), Department of Health (DOH), Department of Environment and Natural Resources (DENR), Intellectual Property Office (IPO), and National Privacy Commission (NPC) have recently issued the Joint Administrative

Order (JAO) No. 22- 01, consolidating all existing rules and guidelines on online businesses. The provisions of JAO No. 22-01 reiterate laws that apply to the establishments’ responsibility to comply with the requirements of price tags on products and services of physical and online stores. “We are firm in enforcing these laws, especially on the requirement of price tags to ensure consumers’ right to choose quality products at reasonable prices,” said DTI-CPG Undersecretary Ruth B. Castelo. Several months ago, DTI launched an online campaign against the “PM Sent [Private Message] culture.” The “PM Sent culture” is the sus-

picious practice of online sellers who send private messages to consumers inquiring on the price of a product. The campaign emphasizes that online vendors who conceal prices as a marketing strategy can be fined and/or imprisoned, according to Article 95 of RA7394 or Consumer Act. The fine ranges from P200 to P5,000 while imprisonment can last from one month to six months. On April 21, the DTI issued a show-cause order to one of the three supermarkets it inspected in Makati City as some products it sold did not bear any price tag as mandated by RA No. 7394 or the Consumer Act of the Philippines.

Lawmaker hits delay in release of fuel ‘ayuda’ to PUV drivers DPWH completes Agusan By Jovee Marie N. Dela Cruz @joveemarie

PARTY-LIST lawmaker on Wednesday raised the complaint of public utility vehicle (PUV) drivers and operators for the delayed release of fuel subsidy allotted to them. Bayan Muna Rep. Ferdinand Gaite, in a news statement, speculated that the possible reason of the delay is that “it is being purposely delayed and timed for release a few days before the election.”

“The fuel subsidy is already small, it seems that giving it is still political. Agencies such as the LTFRB [Land Transportation Franchising and Regulatory Board] and the Department of Transportation should understand that these assistance can help drivers’ daily food and expenses,” he added. It can be recalled that the distribution was halted on March 25 pending Commission of Elections’ (Comelec) position on LTFRB’s request for exemption

from the prevailing ban on cash disbursement during the election period. But the distribution of subsidy was allowed to resume through an exemption by poll body. According to Gaite, a second tranche was supposed to be released since the prices of oil products continue to increase but was again delayed. House Transportation Committee Chairman Edgar Mary Sarmiento has said the Comelec’s decision provides great relief for the tens of thousands of PUV

drivers and operators nationwide who bore the brunt of the series of fuel price increases. He added that this would also ensure the full utilization of the P2.5-billion fuel subsidy which was allotted by Congress through the General Appropriations Act 2022 and another P2.5 billion sourced from the excise tax for petroleum products. The government has partially distributed the subsidy targeting 377,000 drivers and operators at P6,500 each.

road improvement project By Lorenz S. Marasigan @lorenzmarasigan

HE Department of Public Works and Highways (DPWH) said on Wednesday it has completed a P47-million road improvement project in Cabadbaran City, Agusan del Norte. Public Works Regional Director Pol M. delos Santos said his office was able to pave 1.3 kilometers of gravel road in Barangay Mabini, connecting

it to Barangay Malingin. “The Mabini-Malingin Road is now a two-lane concrete road with width of 6.1 meters and 1 meter shoulder on both sides. This route used to be dusty during dry season and muddy during rainy season,” he said. Before the construction, delos Santos said, motorists are avoiding to travel the area, particularly during rainy days in fear that their tires will be stuck in deep mud.

BusinessMirror

Thursday, May 5, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

DEDY Indonesian Customer Service Representative

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong 15.

NAKAMURA, MASAKAZU Program & Project Mgmt Associate Manager 1.

Brief Job Description: Responsible for controlling delivery of programs, projects and/or managed services, deliver desired business outcomes and/or service commitments through effective planning and execution

Basic Qualification: College graduate(preferably commerce, business administration or accountancy or any business related course; fluent in both Japanese (jlptn1 or native) and English language; must be knowledgeable with MS office tools Salary Range: Php 90,000 - Php 149,999

GUAN, TAO Chinese Speaking Solutions Consultant 2.

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

16.

17.

18.

Brief Job Description: Managing incoming calls and customer service inquires HEIN HTET NAING Burmese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires. SAI AUNG HEIN Burmese Customer Service Representative

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

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

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

Brief Job Description: Managing incoming calls and customer service inquiries YEE YEE WIN Burmese Customer Service Representative

10.

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

11.

Brief Job Description: Managing incoming calls and customer service inquiries. AO, YOUMING Chinese Customer Service Representative

12.

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

13.

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

14.

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

20.

21.

22.

23.

24.

25.

26.

27.

28.

29.

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

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

TIN TRIU QUANG Vietnamese Customer Service Representative 30.

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

Brief Job Description: Managing incoming calls and customer service inquires. NONG THI PHUONG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires. NGUYEN VAN DU Vietnamese Customer Service Representative

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

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

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

Brief Job Description: Managing incoming calls and customer service inquires. NGUYEN KHANH KIM NGAN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires. NGHIEM DUC CHINH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires. MAI MY LINH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires. LUU NI THANH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires LO CHIEU HUNG Vietnamese Customer Service Representative

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

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

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

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

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

Brief Job Description: Managing incoming calls and customer service inquires HONG CHI HAO Vietnamese Customer Service Representative

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D., Macapagal Blvd. Cor. Aseana Street, Tambo, City Of Parañaque

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

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

Basic Qualification: Able to Speak, Read, and Write Chinese Language

Brief Job Description: Managing incoming calls and customer service inquires DUONG THI NGA Vietnamese Customer Service Representative

19.

CHAUNG LIN KYEIN Burmese Customer Service Representative

Brief Job Description: Managing incoming calls and customer service inquires CHI NGOC TRAM ANH Vietnamese Customer Service Representative

ACE VELOCITY CONSULTANCY INC. 37/f Lkg Tower, 6801 Ayala Ave., Bel-air, City Of Makati Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing incoming calls and customer service inquiries

TRAN NGOC KIM PHAT Vietnamese Customer Service Representative 31.

Brief Job Description: Managing incoming calls and customer service inquiries

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to Speak, Read, and Write Chinese Language

No.

TRAN THI NGA Vietnamese Customer Service Representative 32.

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

33.

34.

Brief Job Description: Managing incoming calls and customer service inquiries

MUCHTAR Bahasa Indonesian - Manager Affiliates 35.

Brief Job Description: Ensure that all price changes and delivery of events are timely accurate.

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

36.

RAYMOND KURNIAWAN Bahasa Indonesian - Manager Affiliates Brief Job Description: Search and identify potential affiliates.

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

37.

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

JONATHAN ARIE Bahasa Indonesian Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer needs.

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

38.

YOHANNES Bahasa Indonesian Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer needs.

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

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

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati

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

Brief Job Description: Managing incoming calls and customer service inquiries VONG TOI SENH Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries VAY LUNG MANH Vietnamese Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

39.

BRENDA Bahasa Indonesian Language - Trade Specialist Brief Job Description: Initiate conversation to uncover customer needs.

Basic Qualification: Bachelor’s degree in business, marketing and other relevant courses. Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Must fluently speak and write in Bahasa Indonesia language. Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Degree holder, must fluently speak and write Bahasa Indonesian, Vietnamese, and Thai, to cater foreign market. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, must fluently speak and write Bahasa Indonesian, Vietnamese and Thai to cater foreign market Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, must fluently speak and write Bahasa Indonesian, Vietnamese and Thai to cater foreign market

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

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

Basic Qualification: Degree holder, must fluently speak and write Bahasa Indonesian, Vietnamese, and Thai, to cater foreign market.

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

40.

YU, XIAO Mandarin Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer needs.

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

41.

KATEKRAM, KOMNATE Thai Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer needs.

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

42.

LE THI THANH XUAN Vietnamese Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer needs.

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

43.

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

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

TRAN DANH THE Vietnamese Language - Supervisor Fund Management Brief Job Description: Identify, develop and implement new strategies for selling products or services.

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

Basic Qualification: Degree holder, must fluently speak and write Bahasa Indonesian, Vietnamese and Thai to cater foreign market Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write Vietnamese. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, must fluently speak and write Vietnamese, Thai, to cater foreign market. Salary Range: Php 60,000 - Php 89,999

BOSKALIS PHILIPPINES INC. Unit 3701, 3801 The Orient Square, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

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

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

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

ADEL MOHAMED ELTOHAMI MOHAMED YOUSSEF Heavy Equipment Operator Specialist 44.

Brief Job Description: Responsible to operate company specific heavy equipment in a safe and efficient manner

Basic Qualification: Minimum 10 years relevant work experience in dry and wet sand fill in an International Dredging and Land Reclamation company Salary Range: Php 90,000 - Php 149,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ELSHAFEI AHMED YOUSSEF ELSAYED Heavy Equipment Operator Specialist 45.

Brief Job Description: Responsible to operate company specific heavy equipment in a safe and efficient manner

MOHAMED MOUSTAFA ROSHDI ABDELGHAFFAR Heavy Equipment Operator Specialist 46.

Brief Job Description: Responsible to operate company specific heavy equipment in a safe and efficient manner

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Minimum 10 years relevant work experience in dry and wet sand fill in an International Dredging and Land Reclamation company

Basic Qualification: Minimum 10 years relevant work experience in dry and wet sand fill in an International Dredging and Land Reclamation company

48.

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

GAN, YEZHI Chinese Speaking Data Entry Clerk 49.

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

HOANG THI TINH Information Security Analyst (Vietnamese Speaking) 56.

50.

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

GONG, HAIMIN Customer Service Representative Mandarin Speaking 51.

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

GUO, ZHIBIN Customer Service Representative Mandarin Speaking 52.

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

Brief Job Description: Install and use software, such as firewalls and data encryption programs to protect sensitive information

Basic Qualification: Must have completed a bachelor’s degree in Engineering. Superior Analytical and math skills. Incredible Problem Solving Skills. Ability To collaborate with others.

57.

Brief Job Description: Provide outstanding and exceptional customer service. CHANG LY KIN Chinese Speaking Customer Service Staff

58.

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

Brief Job Description: Provide outstanding and exceptional customer service. FANY Chinese Speaking Customer Service Staff

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

59.

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

Basic Qualification: Knows How to Recommend Potential Products or Services to Management by Collecting Customer Information and Analyzing Customer Needs

60.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows How to Recommend Potential Products or Services to Management by Collecting Customer Information and Analyzing Customer Needs

61.

Brief Job Description: Provide outstanding and exceptional customer service LIEU MINH TAM Chinese Speaking Customer Service Staff

62.

Brief Job Description: Provide outstanding and exceptional customer service. LOC HOI PHAM Chinese Speaking Customer Service Staff

63.

Brief Job Description: Provide outstanding and exceptional customer service. PHAM AN SON Chinese Speaking Customer Service Staff

64.

Brief Job Description: Provide outstanding and exceptional customer service QIN, MENGYAO Chinese Speaking Customer Service Staff

65.

Brief Job Description: Provide outstanding and exceptional customer service TAN CHUN SIN Chinese Speaking Customer Service Staff

66.

Brief Job Description: Provide outstanding and exceptional customer service. TRAN THI DAO Chinese Speaking Customer Service Staff

67.

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

KAJIMA PHILIPPINES INCORPORATED 12/f, Makati Sky Plaza 6788 Ayala Avenue, San Lorenzo, City Of Makati

Brief Job Description: Provide outstanding and exceptional customer service. LAU DUC HIEN Chinese Speaking Customer Service Staff

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows How to Recommend Potential Products or Services to Management by Collecting Customer Information and Analyzing Customer Needs

Brief Job Description: Provide outstanding and exceptional customer service. HO THI KIM NGOC Chinese Speaking Customer Service Staff

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With At least 6 Months Customer Service Experience/Good in Oral Communication and Written

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Can speak Vietnamese language and knowledgeable in information technology system Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Vietnamese language and knowledgeable in information technology system

Brief Job Description: Provide outstanding and exceptional customer service VI MY TRINH Chinese Speaking Customer Service Staff

68.

Brief Job Description: Provide outstanding and exceptional customer service.

No.

Basic Qualification: Can speak Chinese/ mandarin fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese/ mandarin fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese/ mandarin fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese/ mandarin fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese / Mandarin fluently Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese/ mandarin fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese/ mandarin fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese / Mandarin fluently

YODA, TAKUYA Business Development Manager 72.

SAI NYAN MAUNG Burmese Customer Service Representative 73.

YOKOYAMA, SHOTA Design Head Manager 53.

Brief Job Description: Prepare conceptual design, planning, sample board resolution

Basic Qualification: Minimum 10 years proactive experience in general & building construction works

69.

Salary Range: Php 500,000 and above

Brief Job Description: Provide outstanding and exceptional customer service XIAO, QI Chinese Speaking Customer Service Staff

70. KINDOSAR PROCESS SOLUTIONS INC. Unit 5d, Rose Industries Bldg., Pioneer St., Kapitolyo, City Of Pasig

Brief Job Description: Provide outstanding and exceptional customer service

74.

54.

Brief Job Description: Integrate data from various back-end services and databases

Basic Qualification: Proficient in speaking, reading and writing in mandarin and English

75.

SHIH, CHIH YUEH Manager 71.

LOGICDOSE INC. 36f Robinsons Summit Center, 6783 Ayala Ave., Bel-air, City Of Makati

Brief Job Description: Prepares Credit Report and Loan Proposal; Prepares Head Office Reports; Other matters as may be assigned

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

76.

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

77.

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

78.

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

79.

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

80.

Brief Job Description: Managing incoming calls and customer service inquiries

KENNY NG Indonesian Customer Service Representative 81.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

RYAN JONATHAN Indonesian Customer Service Representative 82.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese / Mandarin fluently Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

STEVEN CANG Indonesian Customer Service Representative 83.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

Basic Qualification: Can speak chinese/ mandarin fluently. TIOFANI KASANRA Indonesian Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese / Mandarin fluently Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

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

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

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

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

Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills Salary Range: Php 30,000 - Php 59,999

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque

Basic Qualification: Can speak Chinese / Mandarin fluently

Basic Qualification: College graduate; Preferably with more than 5 years managerial experience in banking industry; Proficient in reading, writing and speaking English and Mandarin Language

Basic Qualification: Can speak and write in Japanese fluently, university graduate with global work experience

MPOTECH DIGITAL SYSTEM INC. 47/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a Rufino St., Bel-air, City Of Makati

HU, ZINING Chinese Speaking Data Entry Clerk

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

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

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

85.

KIM, TAEJIN Data Analyst

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

84. VONG PHUONG XUAN Chinese Speaking Customer Service Staff

Brief Job Description: Responsible for identifying opportunities to optimize business process to maximize business profit

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak chinese/ mandarin fluently.

QUALIFICATION AND SALARY RANGE

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese / Mandarin fluently

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

MEL SUPPORT SERVICES, INC. 3/f Goodwill Bldg., 393 Sen. Gil Puyat Ave., Bel-air, City Of Makati

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

MARKETROLE ASIA PACIFIC SERVICES, INC. 26/f, 27/f, 28/f The Enterprise Center Tower 1, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

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

DAI, JILIN Customer Service Representative Mandarin Speaking

Brief Job Description: Install and use software, such as firewalls and data encryption programs to protect sensitive information.

ANTONY Chinese Speaking Customer Service Staff

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 10th/f Platinum Tower Building, Aseana Ave. Cor. Fuentes Street, Baclaran, City Of Parañaque

HO THAI CHIAN Chinese Speaking Business Development Associate

55.

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

YAMADA, TETSUYA Production Engineering Manager

47.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION DUONG CONG THANH Information Security Analyst (Vietnamese Speaking)

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

DENSO TECHNO PHILIPPINES INC. 2/f Sm Jazz Residences, N. Garcia Cor. Jupiter Sts., Bel-air, City Of Makati

Brief Job Description: Oversees Defect Management Process to ensure that defects are found in the early stage of software development; takes action to conduct defect checks, defect removal and implement process improvement. Enhances operational procedures, systems and principles in the areas of system flow and management, business process, management reporting and looks for opportunity to improve or expand the systems. Forecasts requirements; prepares an annual budget; schedules expenditures; analyzes variances and initiates corrective action. Coaches and train team members to develop or enhance their job skills.

No.

Thursday, May 5, 2022

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

LI, ZENGJING Chinese Speaking Data Entry Clerk 86.

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

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

BusinessMirror

Thursday, May 5, 2022

A6 A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

TEH YEE FONG Chinese Speaking Data Entry Clerk 87.

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

YANG, RONGWEI Chinese Speaking Data Entry Clerk 88.

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

YONG WEI JHING Chinese Speaking Data Entry Clerk 89.

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

ZOU, DI Chinese Speaking Data Entry Clerk 90.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written

91.

Brief Job Description: Review and develop the approach on scoping planning coordination and scheduling of day-today operations

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

92.

Brief Job Description: Multilingual customer support, specifically for other Asian language.

Basic Qualification: 15yrs experience with at least 7yrs power plant management experience

NGUYEN THI PHUONG HR Officer 100.

LE QUANG TUAN Vietnamese Customer Service Representative 101.

93.

102.

94.

Brief Job Description: Support the Project on delivering Site Implementation according to the Client’s quality standard and timeline

103.

95.

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

LAN, PING Chinese Speaking Digital Marketing Specialist 104.

96.

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

105.

97.

Brief Job Description: Design, configure, maintain, and optimize server and storage TOVAR PARRA, ELY RAUL Sr Infrastructure Specialist

98.

Brief Job Description: Design, configure, maintain, and optimize server and storage

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

LI, HEJIA Chinese Speaking Digital Marketing Specialist Brief Job Description: Assist/help customers, give customers information about product and services.

LI, YAO Chinese Speaking Digital Marketing Specialist 107.

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

LIN, XIAYI Chinese Speaking Digital Marketing Specialist 108.

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

PHAN THI YEN Chinese Speaking Digital Marketing Specialist 109.

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

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

Basic Qualification: Degree in computer Salary Range: Php 60,000 - Php 89,999

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

QIU, ZHAOYU Chinese Speaking Digital Marketing Specialist

Basic Qualification: College graduate, fluent in English, preferably 6mos-1year customer service experience

Basic Qualification: Degree in computer

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

Basic Qualification: Fluent in Vietnamese (verbal and written skills).

113.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: -At least 19 years old Ability to speak, write and communicate in Taiwanese.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: -At least 19 years old Ability to speak, write and communicate in Taiwanese.

WU, FANG-LING a.k.a. WU, CHIEN-JU Chinese Customer Service Representative 114.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (verbal and written skills).

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, CHIA-YING Chinese Customer Service Representative

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: -At least 19 years old Ability to speak, write and communicate in Taiwanese.

HSU, HSIAO-WEN Chinese Marketing Specialist 115.

Brief Job Description: Conduct market research to find answers about consumer requirement, habit and trends.

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

Basic Qualification: With at least 6 Months Customer Service Experience/ Good in Oral Communication and Written Salary Range: Php 30,000 - Php 59,999

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

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

WU, ZHIYONG Chinese Speaking Digital Marketing Specialist 111.

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

116.

112.

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

Brief Job Description: Conduct market research to find answers about consumer requirement, habit and trends.

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

TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati Basic Qualification: Proficient in speaking, reading and writing in bilingual languages

HUANG, SHIH-WEI Bilingual Customer Service Officer 117.

Brief Job Description: Prepare product or service reports by collecting and analysing customer information

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

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

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

118.

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

119.

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

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

Basic Qualification: -At least 19 years oldAbility to speak write and communicate in Taiwanese Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficient in speaking, reading and writing in bilingual languages

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking, Reading and Writing in Mandarin

Brief Job Description: Define a region-specific marketing plan that supports the regional sales

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

WIKITECH SERVICES INC. Unit 25d 2/f Zeta Ii Bldg., 191 Salcedo St., San Lorenzo, City Of Makati

121.

FU, ZILI Mandarin Human Resource Specialist

Basic Qualification: Can Speak Mandarin

Brief Job Description: Recruiting staffs who can speak mandarin

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

XUSHENG TECHNOLOGY CORP. Flr. No. 1-5 Bldg., No. 0050 F.b. Harrison St. Cor. Williams And Roberts St. Zone 4, District 1, Barangay 13, Pasay City Basic Qualification: Proficient in speaking, reading and writing in bilingual languages

KIM, DOYUN Bilingual Technical Support 122.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in bilingual languages

KIM, TAEWAN Bilingual Technical Support 123.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk

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

ZHUGE CONSULTING SERVICE INC. 7/f Ba Lepanto Bldg., 8747 Paseo De Roxas, Bel-air, City Of Makati

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

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

LUU VAN LINH Mandarin Field Marketing Officer

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

Brief Job Description: Prepare product or service reports by collecting and analysing customer information

NGUYEN QUOC HINH Bilingual Customer Service Officer

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

Basic Qualification: Proficient in speaking, reading and writing in bilingual languages

LUC TUAN VINH Bilingual Customer Service Officer

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

TIAN XIA TECHNOLOGIES INTERNATIONAL, INC. Bldg. B Filinvest Cyberzone 6, Bay City, Barangay 76, Pasay City

FU, ZIH-NING Chinese Customer Service Representative

Basic Qualification: -At least 19 years old Ability to speak, write and communicate in Taiwanese.

PAN, WEI-CHIEH Chinese Marketing Specialist

120.

Basic Qualification: College graduate, fluent in English, preferably 6mos-1year customer service experience

SMARTMATIC TIM CORPORATION 2208 22nd Floor The Trade And Financial Tower, 7th Avenue Corner 32nd St. Bonifacio Global City, Fort Bonifacio, City Of Taguig ALVAREZ CARRERA, LUIS GERARDO Sr Infrastructure Specialist

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

LAN, XIAOLING Chinese Speaking Digital Marketing Specialist

110. XU, LINGLING Chinese Customer Service Representative

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

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

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

QIU, ZUHAN Chinese Customer Service Representative

Brief Job Description: Assist/Help Customers, Give Customer Information about Products and Services

BRANDON CHEE CHEW BIN Chinese Speaking Digital Marketing Specialist

106.

Basic Qualification: Engineering graduate or related discipline, min 10 yrs. management experience preferably in a telecommunications industry

Basic Qualification: Degree in computer

SPRITZER TRADING CORP. 37/f Lkg Tower, 6801 Ayala Ave., Bel-air, City Of Makati

QROI NETWORK SERVICES INC. Unit 16a 16/f Pet Plans Tower, 444 Edsa, Guadalupe Viejo, City Of Makati

BRIK, SEBASTIAN Senior Project Manager

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

XU, TINGQUAN Chinese Speaking Technical Consultant

Basic Qualification: College graduate/ master’s degree, preferably 5 years’ experience in the same field. Salary Range: Php 60,000 - Php 89,999

No.

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

PROSWIFT EXPRESS CORP. Unit 1101 Pearl Of The Orient, 1240 Roxas Blvd., Ermita, 072, Barangay 667, Ermita, City Of Manila

Brief Job Description: Provide strategic advice and guidance to the chairman and the members of the board of directors to keep them aware of the development with the industry and to ensure that the appropriate policies are develop to meet the company’s mission and objectives.

Brief Job Description: Maintain employee records according to the policy and legal requirements.

Salary Range: Php 500,000 and above

Basic Qualification: Must be 21 years old and above; graduate of any vocational or bachelor’s degree course; at least 1 year experience as data analyst or customer service; with good oral and written.

QUALIFICATION AND SALARY RANGE

SOMI UNLIMITED SOLUTIONS, INC. 10/f Tower 2 Double Dragon Plaza Bldg., Edsa Corner Macapagal Ave. St. Zone 10, District 1, Barangay 76, Pasay City

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

CHEN, ELAINE Managing Director

Brief Job Description: Design, configure, maintain, and optimize server and storage

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

PACIFIC SEA BPO SERVICES, INC. 16/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

LEE CHEW LAY Data Analyst Officer

99.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION VILLANUEVA RODRIGUEZ, CESAR AUGUSTO Sr Infrastructure Specialist

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

NES GLOBAL TALENT LIMITED Regus 9/r. Filinvest One Building, Northgate Cyberzone Filinvest, Alabang, City Of Muntinlupa FORD, DAVID ROY Operations & Maintenance Advisor

No.

www.businessmirror.com.ph

LI, JIE Manager Associate

124.

Brief Job Description: Professional support and oversight on project, client relationship management and development, sales and marketing. Collect and analyze consumer behavior data (e.g. web traffic and rankings) Conduct market research and identify new opportunities Coordinate with the marketing design and content teams to generate digital and print advertising material Contribute to collaborative efforts and organize promotional events Assist with organizing promotional events Monitor and report competitors’ marketing and sales activities

Basic Qualification: Have an ability to work autonomously when required Salary Range: Php 30,000 - Php 59,999

*Date Generated: May 4, 2022 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

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

The World

Pope offers to meet Putin, still waiting to hear back

A T I C A N C I T Y— Po p e Francis told an Italian newspaper he had offered to travel to Moscow to meet with President Vladimir Putin to try to end Russia’s war in Ukraine and suggested the invasion might have been provoked by Nato’s eastward expansion. Francis said he made the offer about three weeks into Russia’s invasion, via the Vatican secretary of state, Cardinal Pietro Parolin, but has yet to hear back. Francis’ leng thy inter v iew with Corriere della Sera newspaper underscored the Vatican’s complicated policy on Ukraine, where it is caught between denouncing the atrocities while not alienating Russia and its Orthodox Church. Popes for decades have sought to visit Moscow as part of the longstanding effort to heal relations with the Russian Orthodox Church, which split with Rome more than 1,000 years ago. But an invitation has never been forthcoming. “Of course, it would be necessary for the leader of the Kremlin to make available some window of opportunity. But we still have not had a response and we are still pushing, even if I fear that Putin cannot and does not want to have this meeting at this moment,” Francis was quoted as saying by Corriere della Sera. Francis recalled that he spoke in March with the head of the Russian Orthodox Church, Patriarch Kirill, for 40 minutes by videoconference and for the first half “with paper in hand, he read all of the justifications for the war.” “I listened and told him: ‘I don’t understand any of this. Brother,

we are not clerics of the state, we cannot use language of politics, but that of Jesus. For this we need to find the paths of peace, to stop the firing of arms.’” He added that Kirill “cannot turn into Putin’s altar boy,” a dismissive term used by a top US Ukrainian Greek Catholic archbishop. Francis has frequently denounced the weapons industry and the announced increases in defense spending by the West in recent weeks. But he has also defended the right of Ukrainians to protect their territory from the Russian invasion, in line with Catholic social doctrine. He told Corriere he felt he was too removed to judge the morality of resupplying the Ukrainian armed forces from the West. But he also said he was trying to understand why Russia had reacted as it had. Maybe “this barking of Nato at Russia’s door” had prompted it, he was quoted as saying, “An anger that I don’t know if you can say was provoked, but maybe facilitated.” Francis has given a handful of interviews of late to friendly media emphasizing his call for an end to the war and initiatives to provide humanitarian relief to Ukrainians. He has defended his decision to not call out Putin or Russia publicly, saying popes don’t do so. But he freely named Putin in his remarks to Corriere, and seemed to equate the carnage in Ukraine with the genocide in Rwanda a quarter-century ago. “Such brutality, how can you not try to stop it? Twenty-five years ago in Rwanda we saw the same thing,” he was quoted as saying. AP

BusinessMirror

a well-fitting masks while on public transportation, including in airports and train stations, the Centers for Disease Control and Prevention recommended, citing the current spread of coronavirus and projections of future Covid-19 trends. For months, the Transportation Security

EIJING—Beijing on Wednesday closed around 10 percent of the stations in its vast subway system as an additional measure against the spread of coronavirus.

The subway authority in a brief message said only that the measure to shut 40 mostly downtown stations was being taken as part of epidemic control measures. No date for resumption of service was given. Beijing has been on high alert for the spread of Covid-19, with restaurants and bars limited to takeout only, gyms closed and classes suspended indefinitely. Major tourist sites in the city, including the Forbidden City and the Beijing Zoo, have closed their indoor exhibition halls and are operating at only partial capacity. A few communities where cases were discovered have been isolated. People residing in “controlled” areas have been told to stay within city limits, including 12 areas deemed high-risk and another 35 considered medium-risk. City residents are required to undergo three tests throughout the week as authorities seek to detect and isolate cases without imposing the sort of sweeping lockdowns seen in Shanghai and elsewhere. A negative test result obtained within the previous 48 hours is required to gain entry to

most public spaces. Beijing on Wednesday recorded just 51 new cases, five of them asymptomatic. The subway closings should have relatively little impact on city life, with China observing the Labor Day holiday this week and many commuters in the city of 21 million already working from home. In one downtown neighborhood categorized as high-risk on Wednesday, the streets were practically deserted apart from a few delivery drivers on scooters and the occasional pedestrian and car. All businesses were shut except for supermarkets and fruit and vegetable stores. Outsiders generally avoid high-risk areas to avoid the possibility of their presence registering on the tracing apps installed on virtually all mobile phones, creating potential problems for future access to public areas. While taking a lighter touch in Beijing, China has overall stuck to its strict “zero-Covid” approach that restricts travel, tests entire cities and sets up sprawling facilities to try to isolate every in-

Administration had been enforcing a requirement that passengers and workers wear masks. The government had repeatedly extended the mandate, and the latest one had been set to expire May 3. But a federal judge in Florida struck down the rule on April 18. The same day, the TSA said it would no longer

enforce the mandate. The CDC asked the Justice Department to appeal the decision, which the department did. On Tuesday, CDC officials declined to comment on the status of the appeal. DOJ officials did not immediately respond to a request for information. AP

North Korea fires missile amid rising animosities

EOUL, South Korea—North Korea has launched a ballistic missile toward its eastern waters on Wednesday, South Korean and Japanese officials said, days after North Korean leader Kim Jong Un vowed to bolster his nuclear arsenal “at the fastest possible pace” and threatened to use them against rivals. The launch, the North’s 14th round of weapons firing this year, also came six days before a new conservative South Korean president takes office for a single fiveyear term. South Korea’s Joint Chiefs of Staff said in a statement that the missile was fired from the North’s capital region and flew to the waters off its eastern coast. It called North Korea’s repeated ballistic missile launches “an act of grave threat” to undermine international peace and security and a violation of UN Security Council resolutions banning any ballistic launch by the North. The statement said that Won In-Choul, the South Korean JCS chief, held a video conference about the launch with Gen. Paul LaCamera, an American general who heads the South Korea-U.S. combined forces command in Seoul, and they agreed to maintain a solid joint defense posture. Japan also detected the North Korean launch and quickly condemned it. “North Korea’s series of actions that threatens the peace, safety

and stability of the international community are impermissible,” Japanese Prime Minister Fumio Kishida told reporters during his visit to Rome. Kishida said he’ll discuss the launch when he meets Italian Prime Minister Mario Draghi later Wednesday. “Naturally, we will exchange views on the regional situation in the Indo-Pacific and East Asia, and I will thoroughly explain the reality of the region including the North Korean missile launch today, to gain understanding about the pressing situation in the East Asia,” he said. Japanese Vice Defense Minister Makoto Oniki said that the missile was believed to have landed in waters outside of the Japanese Exclusive Economic Zone. There has been no report of damage or injury reported from vessels and aircraft in the area. It wasn’t immediately known what missi le Nor t h Korea launched. South Korea’s military said the missile flew about 470 kilometers (290 miles) at the apogee of 780 kilometers (485 miles), while Oniki of Japan said it traveled about 500 kilometers (310 miles) at the maximum altitude of 800 kilometers (500 miles). Observers say North Korea’s unusually fast pace in weapons testing this year underscores its dual goal of advancing its missile programs and applying pressure on Washington over a deepening freeze in nuclear negotiations.

Beijing closes 10% of subway stations to stem Covid spread

CDC restates recommendation for masks on planes and trains EW YORK—US health officials on Tuesday restated their recommendation that Americans wear masks on planes, trains and buses, despite a court ruling last month that struck down a national mask mandate on public transportation. Americans age 2 and older should wear

Thursday, May 5, 2022

They say Kim eventually aims to use his expanded arsenal to win an international recognition of North Korea as a nuclear state that he believes would help force the United States to relax international economic sanctions on the North. One of the North Korean missiles tested recently was an intercontinental ballistic missile potentially capable of reaching the entirety of the American homeland. That missile’s launch broke Kim’s self-imposed 2018 moratorium on big weapons tests. There are signs that the North is also preparing for a nuclear test at its remote northeastern testing facility. If made, the nuclear bomb test explosion by North Korea would be the seventh of its kind and the first since 2017. Last week, Kim Jong Un showcased his most powerful nuclearcapable missiles targeting both the United States and its allies during a massive military parade in capital, Pyongyang. During a speech at the parade, Kim said he would develop his arsenal at the “fastest possible pace” and warned that the North would preemptively use its nuclear weapons if its national interests are threatened. North Korea has previously unleashed harsh rhetoric threatening to attack its rivals with its nuclear weapons. But the fact that Kim made the threat himself and in a detailed manner has caused secu-

rity jitters among some South Koreans. Taken together with North Korea’s recent tests of short-range nuclear-capable missiles, some experts speculate North Korea’s possibly escalatory nuclear doctrine would allow it to launch preemptive nuclear strikes on South Korea in some cases. Wednesday’s launch came before the May 10 inauguration of South Korean President-elect Yoon Suk Yeol, who has vowed to boost Seoul’s missile capability and solidify its military alliance with Washington to better cope with increasing North Korean nuclear threats. North Korea has a history of raising animosities with weapons tests when Seoul and Washington inaugurate new governments in an apparent bid to boost its leverage in future negotiations. Some experts say the Biden administration’s passive handling of North Korea as it focuses on Russia’s invasion of Ukraine and an intensifying rivalry with China is allowing more room for the North to expand its military capabilities. The Biden administration’s actions on North Korea have so far been limited to largely symbolic sanctions and offers of open-ended talks. North Korea has rejected the administration’s offer for talks, saying it must first abandon its “hostile policy,” in an apparent reference to US-led international sanctions and US-South Korean joint military exercises. AP

Residents line up for mass Covid-19 testing on Tuesday, May 3, 2022, in Beijing. China has stuck to its strict “zero-Covid” approach that restricts travel, mass tests entire cities and sets up sprawling temporary facilities to try to isolate every infected person. AP Photo/Ng Han Guan

fected person. Lockdowns start with buildings and neighborhoods but become citywide if the virus spreads widely. That has caused the most disruption in Shanghai, where authorities are slowly easing restrictions that have confined most of the city’s 26 million people to their apartments, housing compounds or immediate neighborhoods for close to a month, and in some cases longer. Shanghai reported another 4,982 cases Wednesday, all but 260 of them asymptomatic, along with an additional 16 deaths. That continues a steady decline in China’s largest city, which recorded a daily peak of 27,605 new cases nearly three weeks ago on April 13. The surprisingly low death toll amid an outbreak of more than 400,000 cases in the city that is

home to China’s main stock market and biggest port has sparked questions about how such deaths are tallied. The rigid and widely derided restrictions have led to shortages of food and medical aid along with a wider—though likely temporary—impact on the national economy. Desperate, outraged citizens have confronted authorities at barricades and online, screamed out of their windows and banged pots and pans in a sign of their frustration and anger. Communist authorities that tolerate no dissent have sought to scrub such protests from the Internet and blamed the protests, including the banging of cooking implements, on agitation by unidentified “ foreign anti- China forces.” AP

India’s Muslims mark Eid al-Fitr amid attacks on community

RINAGAR, India—Muslims across India marked Eid al-Fitr on Tuesday by offering prayers outside mosques, with the celebrations this year following a series of attacks against the religious minority during the month of Ramadan. “We will not have the same kind of festivity” this year, said Mohammad Habeeb ur Rehman, a civil engineer in India’s financial capital, Mumbai. “This is the most painful Eid with the worst memories for Indian Muslims.” Anti-Muslim sentiment and attacks have surged across the country in the last month, including stone throwing between Hindu and Muslim groups during religious processions and subsequent demolitions by authorities of a number of properties belonging mostly to Muslims. The community, which makes up 14 percent of India’s 1.4 billion population, is reeling from vilification by hardline Hindu nationalists who have long espoused an anti-Muslim stance. Some leaders of India’s ruling Hindu nationalist Bharatiya Janata Party have tacitly supported the violence, while Prime Minister Narendra Modi has so far been silent about it. Eid al-Fitr is typically marked with communal prayers, celebratory gatherings around festive meals, and new clothes, but celebrations in India for the past two years have been marred by Covid-19 restrictions. In the Indian-controlled portion of disputed Kashmir, the Muslim festival has been subdued for the past three years because of an unprecedented military lockdown after India stripped the region’s semi-autonomy in 2019, followed by the pandemic. The region also saw a rise in violence during Ramadan, with at least 20 militants, two civilians and five police and soldiers killed. “As we prepare to celebrate Eid, a strong sense of collective loss jars at us,” said Bashir Ahmed, a businessman in Srinagar. A violent insurgency against Indian rule in the Muslim-majority region and New Delhi’s brutal response have raged for over three decades. Tens of thousands of people have died in the conflict. In India’s capital, New Delhi, hundreds assembled in the Jama Masjid, one of the country’s largest mosques, to offer Eid prayers there for the first time in over two years due to pandemic restrictions. Families came together early Tuesday morning and many people shared hugs and wishes. Mohammed Hamid, a software engineer, said he was grateful to be offering prayers at the mosque again. “It’s a good feeling because there was a lockdown for the past two years. With the grace of God, we are able to offer Eid prayers here with the children and we are thankful,” Hamid said. The mood was cheerful in neighboring Bangladesh as millions traveled from cities to towns and villages over the weekend to celebrate Eid. Huge crowds gathered in Dhaka’s main Kamalapur Railway Station and bus terminals. As in India, Eid celebrations in Bangladesh have been muted for the last two years due to the pandemic. This year, the government hasn’t imposed restrictions, instead advising people to follow basic health protocols. Khaleda Akter, a garment worker in Dhaka, said she is traveling to her village and is excited to celebrate with her parents. “I am very glad that this year we can travel without any trouble,” she said. AP

The World BusinessMirror

A10 Thursday, May 5, 2022

Russian forces hit eastern towns amid hopes for more evacuations T

www.businessmirror.com.ph

Opec fails to increase April oil output amid capacity troubles

By Cara Anna & Yesica Fisch

The Associated Press

APORIZHZHIA, Ukraine— Russian forces unleashed artillery fire on towns in eastern Ukraine, killing and wounding dozens of civilians, and began storming the bombed-out steel mill in Mariupol from where scores were evacuated after enduring weeks of shelling against the city’s last pocket of resistance.

The governor of the eastern Donetsk region said Russian attacks left 21 dead on Tuesday, the highest number of known fatalities since April 8, when a missile attack on the railway station in Kramatorsk killed at least 59 people. Adding pressure on Moscow, the European Union’s leader on Wednesday called on the 27-nation bloc to ban Russian oil imports in a new wave of sanctions. “We will make sure that we phase out Russian oil in an orderly fashion, in a way that allows us and our partners to secure alternative supply routes and minimizes the impact on global markets,” European Commission President Ursula von der Leyen said in Brussels. She also proposed that Sberbank, Russia’s largest bank, and two other major banks be disconnected from the SWIFT international banking payment system. Thanks to the evacuation effort over the weekend, 101 people—including women, the elderly, and 17 children, the youngest 6 months old—emerged from the bunkers under Mariupol’s Azovstal steelworks to “see the daylight after two months,” said Osnat Lubrani, the UN humanitarian coordinator for Ukraine. Ukraine’s Deputy Prime Minister Iryna Vereshchuk said authorities on Wednesday plan to continue efforts to evacuate civilians from Mariupol and nearby areas if the security situation allows it. Lubrani also expressed hope for further evacuations but said none had been worked out. One evacuee said she went to sleep at the plant every night afraid she wouldn’t wake up. “You can’t imagine how scary it is when you sit in the bomb shelter, in a damp and wet basement, and it is bouncing and shaking,” 54-year-old Elina Tsybulchenko said upon arriving in the Ukrainian-controlled city of Zaporizhzhia, about 140 miles (230 kilometers) northwest of Mariupol, in a convoy of buses and ambulances.

She said if the shelter were hit by a bomb like the ones that left the huge craters she saw on the two occasions she ventured outside, “all of us would be done.” Evacuees, a few of whom were in tears, made their way from the buses into a tent offering food, diapers and connections to the outside world. Some of the evacuees browsed racks of donated clothing, including new underwear. The news for those left behind was grimmer. Ukrainian commanders said Russian forces backed by tanks began storming the sprawling plant, which includes a maze of tunnels and bunkers spread out over 11 square kilometers (4 square miles). It w a s u nc lea r how m a ny Ukrainian fighters were still inside, but the Russians put the number at about 2,000 in recent weeks, and 500 were reported to be wounded. A few hundred civilians also remained there, Ukrainian Deputy Prime Minister Iryna Vereshchuk said. “We’ll do everything that’s possible to repel the assault, but we’re calling for urgent measures to evacuate the civilians that remain inside the plant and to bring them out safely,” Sviatoslav Palamar, deputy commander of Ukraine’s Azov Regiment, said on the messaging app Telegram. He added that throughout the night, the plant was hit with naval artillery fire and airstrikes. Two civilian women were killed and 10 civilians wounded, he said. In his nightly video address, Ukrainian President Volodymyr Zelenskyy said that by storming the steel mill, Russian forces violated agreements for safe evacuations. He said the prior evacuations are “not a victory yet, but it’s already a result. I believe there’s still a chance to save other people.” Among those killed in fresh artillery attacks in Donetsk on Tuesday were 10 people at a chemical plant in the city of Avdiivka,

Donetsk Gov. Pavlo Kyrylenko said. “The Russians knew exactly where to aim—the workers just finished their shift and were waiting for a bus at a bus stop to take them home,” he wrote in a Telegram post. “Another cynical crime by Russians on our land.” Another two civilians were killed and two wounded in overnight shelling in the neighboring Luhansk region, Gov. Serhiy Haidai said, adding Russian attacks were intensifying. Just to the north, near the strategic junction city of Izyum, Russia has deployed 22 battalion tactical groups in its attempt to advance along the northern axis of the Donbas, the British Defense Ministry reported Wednesday. Each unit typically numbers about 700 soldiers. Despite struggling to break through Ukrainian defenses and build momentum, Russia likely intends to proceed beyond Izyum to capture the cities of Kramatorsk and Severodonetsk, according to the British assessment, and encircle Ukrainian troops in the Kharkiv region. However, Moscow’s push has been slow as Ukrainian fighters dig in and use long-range weapons, like howitzers, to target the Russians. The US believes Ukrainians in recent days have pushed Russian forces about 40 kilometers (25 miles) east of Kharkiv, the country’s second-largest city. Extending the distance of the front line makes it more difficult for Russia to target the city with artillery fire. Ukrainian authorities said that during the last week their forces regained control of at least 11 villages around Kharkiv, most of them were occupied by the Russians for more than two months. Ukraine’s eastern industrial heartland of Donbas, which includes Donetsk and Luhansk, remains Moscow’s stated objective after failing to take Kyiv in the early weeks of the war. Explosions were also heard in Lviv, in western Ukraine, near the Polish border. The strikes damaged three power substations, knocking out electricity in parts of the city and disrupting the water supply, and wounded two people, the mayor said. Lviv has been a gateway for NATO-supplied weapons and a haven for those fleeing the fighting in the east. Russi a n Defense Minist r y spokesman Maj. Gen. Igor Konashenkov said Russian aircraft and artillery hit hundreds of targets in the past day, including troop strongholds, command posts, artillery positions, fuel and ammunition depots and radar equipment. Ukrainian authorities said the Russians also attacked at least

a half-dozen railroad stations around the country. The assault on the Azovstal steelworks began almost two weeks after Russian President Vladimir Putin ordered his military not to storm the plant to finish off the defenders but to block it off. The first—and so far only—civilians to be evacuated from the shattered plant got out during a brief cease-fire in an operation overseen by the UN and the Red Cross. Some of the elderly evacuees appeared exhausted as they arrived. Some of the younger people, especially mothers comforting babies and other children, appeared relieved. “I’m very glad to be on Ukrainian soil,” said a woman who gave only her first name, Anna, and arrived with two children, ages 1 and 9. “We thought we wouldn’t get out of there, frankly speaking.” A small group of women held up signs in English asking that fighters also be evacuated from the steel plant. In addition to the 101 people evacuated from the steelworks, 58 joined the convoy in a town on the outskirts of Mariupol, Lubrani said. About 30 people who left the plant decided to stay behind in Mariupol to try to find out whether their loved ones were alive, Lubrani said. A total of 127 evacuees arrived in Zaporizhzhia, she said. The Russian military said earlier that some of the evacuees chose to stay in areas held by pro-Moscow separatists. Tsybulchenko rejected Russian allegations that the Ukrainian fighters wouldn’t allow civilians to leave the plant. She said the Ukrainian military told civilians that they were free to go but would be risking their lives if they did so. “We understood clearly that under these murder weapons, we wouldn’t survive, we wouldn’t manage to go anywhere,” she said. Mariupol has come to symbolize the human misery inflicted by the war. The Russians’ two-month siege of the strategic southern port has trapped civilians with little or no food, water, medicine or heat, as Moscow’s forces pounded the city into rubble. The plant in particular has transfixed the outside world. Mariupol’s fall would deprive Ukraine of a vital port, allow Russia to establish a land corridor to the Crimean Peninsula, which it seized from Ukraine in 2014, and free up troops for fighting elsewhere in the Donbas. The Associated Press journalists Inna Varenytsia and David Keyton in Kyiv, Jon Gambrell and Yuras Karmanau in Lviv, Mstyslav Chernov in Kharkiv, and AP staff around the world contributed to this report.

he Opec cartel—which has struggled for many months to revive oil supplies halted during the pandemic—effectively failed to increase output at all in April as members remained plagued by capacity constraints. W hile Iraq made a substantia l boost, countr ies such as L iby a a nd Niger i a saw t hei r pro duc t ion f a l l a m id op e r a tional disruptions and diminished investment, according to a Bloomberg sur vey. Even group leader Saudi A rabia didn’t hike by as much as permitted by its agreed quota. International crude prices are holding near $106 a barrel as Opec’s struggle is exacerbated by a de facto embargo on Russian supplies by many refiners following the invasion of Ukraine. The lofty price levels are feeding into an inflationary spike that’s battering consumers and threatening growth, alarming policy makers around the world. Key consumers such as the US have grown exhausted with pressing the Saudis to fill in the supply gap, and taken to deploying emergency oil reserves. The kingdom’s refusal to open the taps more quickly ref lects its belief that markets remain adequately supplied despite the war launched by Russia, with which it jointly leads the Opec+ alliance of producers. The coalition is likely to stick with its established plan, ratifying another modest addition of 430,000 barrels a day when it gathers on Thursday, according to delegates. But as the survey indicates, the group may struggle to implement much of the stipulated amount. The Organization of Petroleum Exporting Countries added just 10,000 barrels a day in April, compared with a scheduled 274,000 a day, the survey showed. It pumped an average of 28.7 million barrels a day. While Iraq bolstered output by 170,000 barrels a day to 4.46 million, Libya countered this with yet another stumble, slipping by 150,000 a day amid port and field closures. Saudi Arabia added just 70,000 barrels a day, about two-thirds of the permitted increment, leaving their production at 10.34 million a day—or roughly 100,000 a day below the kingdom’s target. Riyadh has already restored the production it slashed during the pandemic, and has returned to average volumes seen before the crisis. In the past five years, it has only pumped at or above its current quota level for periods of a few months at a time. Meanwhile, oil prices rose as the European Union proposed to ban Russian crude oil over the next six months and refined products by the end of the year. Brent futures climbed as much

as 2.6 percent to trade near $108 a barrel in London, extending an earlier gain. While the EU ban has been signaled for much of the last week, traders have been keenly focused on just how much the war will impact output from Russia, one of the world’s largest producers. “ T his w ill be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined,” European Commission President Ursula von der Leyen said. “ We w ill make sure that we phase out Russian oil in an orderly fashion, in a way that allows us and our partners to secure alternative supply routes and minimizes the impact on global markets.” Europe is highly dependent on Russian crude oil, and some countries will find it easier to switch supply than others. Russia shipped about 720,000 barrels a day of crude to European refineries through its main pipeline to the region last year. That compares with seaborne volumes of 1.57 million barrels a day from its Baltic, Black Sea and Arctic ports. Hungary and Slovakia, which had been opposed to a swift cutoff of Russian oil and are highly dependent on its supply, will be granted a longer time frame— until the end of 2023—to enforce the sanctions, according to people familiar with the matter. Oil has been buffeted by volatility this year, while posting monthly gains, as Russia’s invasion of Ukraine rocks markets and investors prepare for central banks to tighten policy to contain inflation. The US Federal Reserve is expected to raise interest rates by 50 basis points later on Wednesday, and policy makers may signal even more aggressive hikes later this year. The phase out of Russian oil in Europe will come at a time when the world is grappling with a refined product crisis—potentially making it all the more costly for the region to wean itself off Russian fuels like diesel. The American Petroleum Institute reported a drop of about 4.5 million barrels each in US gasoline and distillate holdings, according to people familiar with the figures, the latest sign of tightness in fuel markets. T he US diesel crack spread— a gauge of the profitabilit y of turning crude into diesel—has surged this year as countries cut back on Russian fuel, depleting supplies. Oil investors are also counting down to a meeting on Thursday of the Organization of Petroleum Ex por ting Countr ies a nd it s a l l ies on produc t ion policy. T he 23-nation group is expected to ratify another modest supply increase amid signs that the alliance is failing to deliver agreed-upon volumes. Bloomberg News

American employers post record 11.5 million job openings in March

ASHINGTON— Employers posted a record 11.5 million job openings in March, meaning the United States now has an unprecedented two job openings for every person who is unemployed. The latest data released Tuesday by the Bureau of Labor Statistics further reveals an extraordinarily tight labor market that has emboldened millions of Americans to seek better paying jobs, while also contributing to the biggest

inf lation surge in four decades. A record 4.5 million Americans quit their jobs in March—a sign that they are confident they can find better pay or improved working conditions elsewhere. Layoffs, which has been running around 1.8 million a month before the pandemic hit the economy in early 2020, ticked up to 1.4 million in March from 1.35 million in February. The US job market is on a hot streak. Employers have

added an average of more than 540,000 jobs a month for the past year. The Labor Department is expected to report Friday that the economy generated another 400,000 new jobs in April, according to a survey by the data firm FactSet. That would mark an unprecedented 12th straight month that hiring has come in at 400,000 or more. The US economy and job market roared back with unexpected strength from 2020’s brief but devastating

coronavirus recession, fueled by massive government spending and super-low interested rates engineered by the Federal Reserve. Caught off guard by the sudden rebound in consumer demand, companies scrambled to hire workers and stock their shelves. They were forced to raise wages, and factories, ports and freight yards were overwhelmed with traffic. The result has been shipping delays and higher prices. In March, consumer prices rose 8.5 percent from a year

earlier—the hottest inf lation since 1981. Where things go from here is uncertain. The Fed is raising short-term interest rates to combat inf lation. The Covid-19 stimulus from the federal government is gone. And the war in Ukraine has clouded the economic outlook. Despite strong hiring, the United States is still 1.6 million short of the jobs it had in February 2020, just before the coronavirus hit the economy; and that shortfall does not take

into account the additional jobs that should have been added by a growing population. For now anyway, the job market looks strong. “Employees have strong job security and confidence in their ability to find new work,“ said Nick Bunker, director of economic research at the Indeed Hiring Lab. “The labor market is still very much a job seeker’s market. Something dramatic will have to happen for this to change anytime soon.” AP

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, May 5, 2022 A11

Group seeks contempt citation for agri officials T

HE United Sugar Producers Federation (Unifed) on Wednesday said it will take legal action against officials of the Department of Agriculture (DA) for allegedly defying court rulings regarding the government’s sugar import program. Unifed said it will ask the courts to cite Agriculture Secretary William D. Dar and Sugar Regulatory Administration (SRA) chief Hermenegildo Serafica in contempt for implementing Sugar Order (SO) No. 3 despite court rulings and pending cases against it. SO 3 authorized the importation of 200,000 metric tons (MT) of refined sugar to plug the shortfall in

domestic supply and temper the rise in sugar prices. However, the sugar order faced legal challenges as industry groups, such as Unifed, sought the courts’ intervention to stop the import program. In March, Executive Judge Reginald M. Fuentebella of the Regional Trial Court Branch 73 in Sagay City, Negros Occidental issued a writ of preliminary injunction against SO 3, which halted the implementation of the government’s import program. (Related story: https://businessmirror.com.ph/2022/03/01/ court-halts-sras-sugar-importation-plan/) “We will ask the courts to is-

sue immediate warrants of arrest against the two officials for disrespecting the powers of the courts and bypassing the rights of sugar stakeholders that sought a status quo on SO 3,” Unifed President Manuel Lamata said in a statement. “This sheer defiance of the courts’ orders from Dar and Serafica in order to cater industrial users, particularly the beverages companies must be stopped, investigated and if warranted, be prosecuted.” Furthermore, Unifed warned that it will “file corresponding charges to all traders who will participate in this importation program for making a mockery of the law.”

“Unifed is against importation as it is a need, but is against the exclusivity to industrial users, which has never happened in the history of the sugar industry,” Lamata said.

MC 11

THE SRA stood pat on its decision to push through with its 200,000-MT importation program, saying that the country is in dire need of sugar supply, as shown in the projections and estimates made by the agency. “Everyone is aware that sugar prices have been high and continue to go up weekly. It is clear from these data that we need to augment our sugar supply at the soonest possible time to

ensure food security in sugar and food products using sugar as well as arrest the continuing increase in sugar prices which affects inflation,” the SRA said in a statement on Wednesday. The SRA issued Memorandum Circular (MC) No. 11 series of 20212022 on Wednesday, which advised applicants of the resumption of the import program. “The Sugar Regulatory Administration is now processing applications in Luzon, Visayas and Mindanao [except those in Region 6] to allow the importation of 200,000 metric tons of standard grade refined sugar and bottler’s grade refined sugar,” MC 11 read.

Lamata noted that the exception of Region VI as stipulated in MC 11 was a result of the writ of preliminary injunction that was issued by Fuentebella. In a virtual press briefing last Tuesday, Dar disclosed that the DA’s “inclination” was to push through with the implementation of SO 3 in areas that are not covered by existing or pending temporary restraining orders filed by “certain quarters.” The average retail price of refined sugar in Metro Manila as of April 29 reached P68.86 per kilogram while wholesale price is nearing P3,200 per 50-kilogram bag, based on the latest SRA data.

Fish growers ask govt to lift ban on processed animal protein By Jasper Emmanuel Y. Arcalas @jearcalas

NONGOVERNMENT organization has joined the call to lift the import ban imposed by the government on processed animal protein (PAP) from Italy. The Federation of Filipino Fish Farmers and Fisherfolk (F5) on Wednesday threw its support behind the proposal to lift the temporary import ban on Italian porcine PAP. The group said Italy accounts for about 91,500 MT or 70 percent of the total 130,720 MT of porcine PAP imported by the country. Porcine PAP, which is not manufactured locally, has become a vital raw material for aquaculture feeds as it is rich in protein, according to the group. Citing industry estimates, the group noted that a P25 increase in the price of a sack of fish feeds would translate to a P2-per-kilogram increase in production cost. The importation of porcine PAP from Italy and other countries with confirmed African swine fever (ASF) outbreaks was temporarily banned by the Bureau of Animal Industry (BAI) to protect the domestic hog industry from the dreaded pig disease. “With the disruption of the

supply chain due to the Covid-19 pandemic and limited raw materials brought about Russian-Ukrainian war, there is a need to secure a continuous supply of these feed ingredients for the aquaculture industry,” the group said in a position paper it submitted to the Department of Agriculture (DA). “It is in the above context that the aquaculture sector has sought the support of BAI, BFAR [Bureau of Fisheries and Aquatic Resources], and DA to consider allowing the importation of porcine PAP from Italy and other similarly situated countries, solely for aquafeeds production under certain conditions.” The group said the DA, through its bureaus, conducted two consultations with stakeholders last April 11 and April 18. Industry players were asked to submit their respective position papers on the matter. The group said countries have been stockpiling on PAP, also called as rendered animal protein, to ensure that their feed industries have sufficient supply of raw materials amid the global supply crunch. “Only countries that allow the importation will be able to secure for themselves this limited supply,” it said. “It is now more crucial than ever for our nation to acquire raw

TECHNICIANS harvest milkfish from one of the experiment cages in Southeast Asian Fisheries Development Center Aquaculture Department’s Igang Marine Station in Guimaras. PHOTO FROM WWW.SEAFDEC.ORG.PH

materials in order to continue the aquaculture industry’s operations. It would also have the added benefit of maintaining or preventing the unnecessary increase in the cost of feed if there are enough raw materials on hand.” The group said domestic aquaculture feed mills source their porcine PAP supply from European companies that use “only Category 3 materials.” Category 3 materials, under European Union rules, are products that are fit for human consumption

but are not usually eaten or are used for commercial production. It also noted that the production of porcine PAP entails high heat treatment that deactivates infectious pathogens such as ASF. The rendering process to convert Category 3 raw materials into porcine PAP uses temperatures as high as 130°C, nearly double than the 70°C recommendation of international bodies to deactivate ASF virus. If the high temperature used

in the rendering process was not enough, the group pointed out that local feed manufacturers also use high temperatures, ranging from 90°C to 200°C, to produce feed products. “This temperature is more than enough to neutralize ASF, if at all present. This process guarantees that no viable ASF is present in the porcine PAP to be imported to the country,” the group said. “The entire process of feed manufacturing ensures that no pathogens

or living organisms survive, leaving the product safe and ASF-free.” The group said the DA has already drafted an order that would outline the guidelines on the importation of PAP from ASF-hit countries limited to wild boars. It proposed the inclusion in the draft order of a provision that would create a multi-partite monitoring team to oversee the implementation of the draft guidelines and ensure compliance with it by porcine PAP importers. “This Multi-partite Monitoring Team may conduct inventory of items imported under this guideline, monitor material utilization and inspect all facilities where the items imported under these guidelines are stored or otherwise used in the manufacturing and processing of aquafeeds where the imported material is used as ingredients,” F5 said. The newly formed group is comprised of corporate entities, such as Frabelle Group, Finfish Hatcheries Inc., Oversea Feeds Corp., Feedmix Specialist Inc. as well as industry associations like Taal Lake Aquaculture Alliance Inc., Alliance of Philippine Fishing Federations Inc., and Philippine Association of Fish Producers Inc.. Individual pond operators, fish growers and farm owners are also part of F5.

Report: Acute food insecurity hits new highs Avocados, durians help coffee farmers cope with surging costs

HE number of people facing acute food insecurity and requiring urgent life-saving food assistance and livelihood support continues to grow at an alarming rate. This makes it more urgent than ever to tackle the root causes of food crises rather than just responding after they occur. This is a key takeaway from an annual report launched today by the Global Network Against Food Crises (GNAFC)—an international alliance of the United Nations, the European Union, governmental and non-governmental agencies working to tackle food crises together. The report focuses on those countries and territories where the magnitude and severity of the food crisis exceed the local resources and capacities. In these situations, the mobilization of the international community is necessary.

Key figures

THE document reveals that around 193 million people in 53 countries or territories experienced acute food insecurity at crisis or worse levels in 2021. This represents an increase of nearly 40 million people compared with the already record numbers of 2020. Of these, over half a million people (570,000) in Ethiopia, southern Madagascar, South Sudan and Yemen were classified in the most severe phase of acute food insecurity Catastrophe and required urgent action to avert widespread collapse of livelihoods, starvation and death. When looking at the same 39 countries or territories featured in

all editions of the report, the number of people facing crisis or worse nearly doubled between 2016 and 2021, with unabated rises each year since 2018.

Root causes

THESE worrying trends are the result of multiple drivers feeding into one another, ranging from conflict to environmental and climate crises, from economic to health crises with poverty and inequality as undelaying causes. Conflict remains the main driver of food insecurity. While the analysis predates Russia’s invasion of Ukraine, the report finds that the war has already exposed the interconnected nature and fragility of global food systems, with serious consequences for global food and nutrition security. Countries already coping with high levels of acute hunger are particularly vulnerable to the risks created by the war in Eastern Europe, notably due to their high dependency on imports of food and agricultural inputs and vulnerability to global food price shocks, it notes. The key drivers behind rising acute food insecurity in 2021 were: • conflict (main driver pushing 139 million people in 24 countries/ territories into acute food insecurity, up from around 99 million in 23 countries/territories in in 2020); • weather extremes (over 23 million people in 8 countries/territories, up from 15.7 million in 15 countries/territories); • economic shocks - (over 30 million people in 21 countries/territories, down from over 40 million

people in 17 countries/territories in 2020 mainly due to the fallout from the Covid-19 pandemic). Commissioner for International Partnerships Jutta Urpilainen said: “Russia’s invasion of Ukraine jeopardizes global food security. The international community must act to avert the largest food crisis in history and the social, economic, and political upheaval that could follow. “The EU is committed to address all drivers of food insecurity: conflict, climate change, poverty and inequalities. While it is necessary to provide immediate assistance to save lives and prevent famine, we must continue to help partner countries in transition to sustainable agri-food systems and resilient supply chains by tapping the full potential of the Green Deal and the Global Gateway.” “The tragic link between conflict and food insecurity is once again evident and alarming,” said FAO Director-General QU Dongyu. “While the international community has courageously stepped up to the calls for urgent famine prevention and mitigation action, resource mobilization to efficiently tackle the root causes of food crises due to, among others, the impacts of the Covid-19 pandemic, the climate crisis, global hotspots and the war in Ukraine, still struggles to match the growing needs. The results of this year’s Global Report further demonstrate the need to collectively address acute food insecurity at the global level across humanitarian, development and peace contexts.”

OFFEE growers in top producer Vietnam are planting more profitable crops like avocados, black pepper and durians, which is helping them cope with the soaring fertilizer and fuel costs caused by the war in Ukraine. Even with the extra income f rom these add itiona l crops, farmers are still having to cut back investment in their coffee trees, which may lead to a 10-percent drop in production next season from a year earlier, said Nguyen Nam Hai, the new chair of the Vietnam Coffee and Cocoa Association. The country buys large amounts of fertilizer from Ukraine, Russia and Belarus, and farmers are not profiting much from market prices, even though they are higher than a year ago, because of the increased costs, he said in an interview. Vietnam is the world’s biggest grower of the robusta variety used in instant drinks and espressos. The country is likely to account for almost a fifth of all the coffee grown in the world in 2021-22, with output of more than 31 million bags of 60 kilos each, according to the United States Department of Agriculture. The war has had almost no impact on shipments because Russia and Ukraine are not major importers of the country’s coffee, and sales to the key European Union market have been maintained, Hai said, adding he sees exports this year staying around the same level as last year. Green coffee beans still dominate exports, and the country’s processed products struggle to find a way onto the world market

GREEN robusta coffee beans are sorted for defects at the Highlands Coffee processing plant in Ho Chi Minh City, Vietnam, October 1, 2010. PHOTOGRAPHER: JEFF HOLT/BLOOMBERG

because customers are already used to established brands and to Nestle SA products, Hai said. The goal is to have processed products represent as much as 25 percent of coffee export revenue in the next five years from less than 10 percent at present, Hai said, while local consumption is expected to double to as high as 12 percent of total sales. Other priorities are to encourage local growers to establish more cooperatives and partner with exporters to form larger farms, which will help standardize cultivation processes and increase usage of high-yield varieties, Hai said, adding he also aimed to replant aging trees and increase irrigation to combat climate change.

US steak prices

BEEF will be getting even more expensive at US grocery stores in the months ahead, according to one of

the country’s biggest meatpackers. National Beef Co., controlled by the Brazilian giant Marfrig Global Foods, sees relatively stable margins in the next two quarters, according to Tim Klein, who heads Marfrig’s US operations. That means even though their costs to buy cattle are increasing, the company will ultimately be able to pass that on to consumers in the form of pricier steaks and burgers. “Cattle prices will go up, and beef prices will go up with them,” Klein said Tuesday during an earnings interview. The cost of meat has been a focus as consumers grapple with the fastest inflation in four decades. The average price for ground beef in America grocery stores has jumped 18 percent from a year ago, according to government data. American shoppers may adapt to inflation, buying more less expensive cuts, according to Klein. Bloomberg News

A12 Thursday, May 5, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Defense spending hit $2-T for the first time

dam Smith, an 18th-century Scottish philosopher and considered the father of modern economics, said that one of the primary functions of government is the defense of society, which justifies the collection of taxes. When the government gives the lion’s share of the budget to the military to ensure that the army is capable of defending the nation, it is acting on behalf of the citizens. Military spending, however, is intimately linked to war. Guns and butter theory refers to the dynamics involved in a government’s allocation of funds, whether it is more interested in spending money on war or food for its people. Hermann Göring, German military leader, 1936: “Guns will make us powerful; butter will only make us fat.” Globally, total military spending reached more than $2 trillion for the first time in 2021, according to an April report from the Stockholm International Peace Research Institute. The five largest spenders in 2021 were the United States, China, India, the United Kingdom and Russia, together accounting for 62 percent of expenditure, according to new SIPRI data on global military spending published on April 25. “Even amid the economic fallout of the Covid-19 pandemic, world military spending hit record levels,” said SIPRI Senior Researcher Dr. Diego Lopes da Silva. Russia increased its military expenditure by 2.9 percent in 2021, to $65.9 billion, at a time when it was building up its forces along the Ukrainian border. This was the third consecutive year of growth and Russia’s military spending reached 4.1 percent of GDP in 2021. “High oil and gas revenues helped Russia to boost its military spending in 2021. Russian military expenditure had been in decline between 2016 and 2019 as a result of low energy prices combined with sanctions in response to Russia’s annexation of Crimea in 2014,” said Lucie Béraud-Sudreau, Director of SIPRI’s Military Expenditure and Arms Production Program. A key takeaway here is that every dollar spent on defense is a dollar not spent on something else, like food for the people. Russia’s invasion of Ukraine prompted most European countries to start increasing their defense budget. The trade-off between military spending and public welfare is more painful now for many countries. The Russian invasion has caused global suffering far beyond the battlefield in Ukraine. Russia’s war of aggression is exacerbating the food crisis in many countries, according to the United Nations. Ukraine and Russia are considered the “granaries of Europe” as they supply about 30 percent of the world’s wheat needs. For years, Russia and Ukraine have ranked among the largest exporters of wheat, corn, rapeseed, sunflower seed and sunflower oil. Since the war began, Ukraine no longer exports anything at all. Its agriculture, which could help improve global food security, has collapsed. UN Secretary-General António Guterres warned in March of the global consequences of the Ukraine war. The breadbasket is being bombed and a “hurricane of hunger” is threatening, he said. Given Ukraine’s great importance as a food exporter, the invasion was “also an attack on the world’s most vulnerable people and countries.” In an article published by Scientific American—A Small Cut in World Military Spending Could Help Fund Climate, Health and Poverty Solutions—authors Carlo Rovelli and Matteo Smerlak argued that “international cooperation could stem and redirect some of the $2 trillion the world wastes each year in the global arms race.” Military spending increases may seem like a natural response to the Ukraine crisis, they said. But “our house is burning, and instead of coming together to stanch the flames, we are busy building nuclear submarines, hypersonic missiles and other weapons of doom. The fruits of these exorbitant investments are not deterrence and peace; they are chaos and fear.” The authors reminded global leaders about the simple truth pointed out by a great pacifist named Albert Einstein: “You cannot simultaneously prevent and prepare for war.” Indeed, you can’t say you don’t want a war and then go about doing all the things that get you ready for one.

Since 2005

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

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Political pessimism John Mangun

OUTSIDE THE BOX

ooking at the economic numbers coming out of the United States might make you less depressed about the Philippines. Or maybe not, since there is a large group of Filipinos that supported Biden. Americans are so unhappy with their leadership that 63 percent think that the country is going in the “wrong direction.” Biden’s current job approval rating averaging all polls since April 2021 is 53 percent ‘Disapprove’, the lowest in history. Inflation was 2 percent in January 2020 and is now 8.5 percent. The economy was growing at 1.9 percent back then and is currently shrinking by 1.4 percent. The US trade deficit hit a historic high in January and is at about the same level today. The US Government Budget deficit is 16.7 percent of the GDP, the worst level since records started in 1948. Foreign debt is now equal to 137 percent of GDP. And you thought the Philippines was in

trouble. Maybe you still do, and perhaps that is because the last election poll shows Senator Pacquiao moving into third place or something like that. One local presidential candidate is quoted as saying that the surveys are to be laughed at. Winning by a miracle though is unlikely. I have made my living from anticipating which stock people were going to buy next. I play poker. For me, I like watching the prediction markets where people put their money on the table. Ok, the markets lost heavy on Hillary Clinton but that happens. Will it again? Smarkets is a UK-based betting exchange that carries political prediction markets. The odds of Marcos winning the election is currently at

87 percent. If you want a good “miracle” bet, choose Pacquiao where one dollar wagered will return $65 if he wins. Constantly asked “what do you think will happen in our economy if Leni/BBM will be the president?”, my answer is “up either way...Filipinos control the economy not any president...All we want is for the election nonsense to be over.” Broad government policy has not changed since President Gloria Macapagal Arroyo set the government’s financial house in order beginning in 2005. Further, the policy specifics of both the Aquino and Duterte administrations were generally consistent. The economic results since 2010 have been on the same positive trajectory. Foreign Direct Investment was never higher than for the past six Duterte years. But it was also never higher than for the previous six Aquino years. The same is true with annual economic growth and inflation, both of which remain relatively consistent—and beneficial—with peaks and valleys coming from external influences like oil prices, global financial “crises,” and war. Not any president. Post-Covid and post the election silly season, the positive economic path that began in 2004 will con-

tinue. In 2004 the Philippine GDP per capita in purchasing power was $4,908. In 2019 it was $8,914, with consistent growth no matter who was president. Read the following. “Bank deposits up 8.5 percent to P16 trillion in January.” There is a ton of cash on the sidelines since we have been hoarding money since January 2020. And what happens post-Covid? “Wholesale prices of building materials in Metro Manila picked up pace after the capital was placed under the most lenient alert level. The latest Construction Materials Wholesale Price Index accelerated by 6.6 percent in March from the 5.2 percent expansion in February.” Demand pull inflation. For now, that’s good. The gloom-and-doom in the US is justified. The despondency in the Philippines is due to politics. For those that want to sit in the mud of their political pessimism because of the election, I feel sorry for you. The other 112 million Filipinos are going to continue to build the nation and will prosper doing it. You probably won’t. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

As US poised to restrict abortion, other nations ease access By Astrid Suárez And Christopher Sherman | The Associated Press

OGOTA, Colombia—As women in the United States find themselves on the verge of possibly losing the constitutional right to abortion, courts in many other parts of the world have been moving in the opposite direction. That includes in a number of traditionally conservative societies—such as recently in Colombia, where the Constitutional Court in February legalized the procedure until the 24th week of pregnancy, part of a broader trend seen in parts of heavily Catholic Latin America. It’s not yet clear what impact there will be outside the United States from the leaked draft opinion suggesting the US Supreme Court could overturn the landmark 1973 Roe v. Wade decision. But for women’s activists who for years have led grinding campaigns demanding open access to abortion, often looking to the United States as a model, it’s a discouraging sign and a reminder that hard-won gains can be impermanent. “It is an awful precedent for the coming years for the region and the world,” said Colombian Catalina Martínez Coral, Latin America and Caribbean director for the New York-based Center for Reproductive Rights, which was among the groups that litigated the abortion case in Colombia’s high court.

The February ruling there established a broad right for women to have abortions within the 24-week period, whereas previously they could do so only in specific cases such as if a fetus presented malformations or a pregnancy resulted from rape. Abortion is still allowed after that period under those special circumstances. The decision fell short of advocates’ hopes for a complete decriminalization, but Martínez Coral said it still left Colombia with the “most progressive legal framework in Latin America.” Similarly, Mexico’s Supreme Court held last year that it was unconstitutional to punish abortion. As the country’s highest court, its ruling bars all jurisdictions from charging a woman with a crime for terminating a pregnancy. Statutes outlawing abortion are still on the books in most of Mexico’s 32 states, however, and nongovernmental organizations that have long pushed for decriminalization are pressing state legislatures to reform them. Abortion was already readily available in Mexico City and

some states. To the south in Argentina, lawmakers in late 2020 passed a bill legalizing abortion until the 14th week and after that for circumstances similar to those described in the Colombia ruling. It’s also widely available in Cuba and Uruguay. But expansion of abortion access has not extended to all of Latin America, with many countries restricting it to certain circumstances—such as Brazil, the region’s most populous nation, where it’s permissible only in cases of rape, risk to the woman’s life and certified cases of the birth defect anencephaly. Former President Luiz Inácio Lula da Silva, who is seeking a new term in October, recently said he sees legalizing abortion as a public health issue, eliciting criticism in a country where few approve of the procedure. Other places have total bans with no exceptions, such as Honduras, Nicaragua and El Salvador. Courts in the latter have given women long prison sentences for aggravated homicide even in cases where prosecutors suspect a miscarriage was actually an abortion. Many African nations also maintain complete bans, but in October 2021, Benin legalized abortion in most circumstances up to 12 weeks. Previously it was permitted in cases of rape or incest; risk to the woman’s life; or severe fetal malformation.

Most European countries have legalized abortion, including predominantly Catholic ones. Ireland did so in 2018, followed by tiny San Marino in a voter referendum last fall. It remains illegal in Andorra, Malta and Vatican City, while Poland last year tightened its abortion laws. It’s also been widely available in Israel since 1978 and relatively uncontroversial, allowed by law before the 24th week with the approval of hospital “termination committees” that consist of medical professionals including at least one woman. Laws and interpretations vary across the Muslim world. Abortion has been legal up to 12 weeks in Tunisia for decades, but in Iran it’s been forbidden since the 1979 Islamic Revolution. Last year the leader of Cairo’s top institution of Islamic clerics, Al-Azhar, said abortion is not the solution even in cases where a child is likely to be seriously ill or disabled. When the US Supreme Court’s final decision is handed down, expected in late June or early July, the world will be watching. “While moves to decriminalize and legalize abortion in places like Argentina, Ireland, Mexico and Colombia in the last few years have been a huge win for the global community,” Agnes Callamard, See “US” A13

www.businessmirror.com.ph

Opinion

Election forensics

SEC clears Venture of over a billion-peso scam

BusinessMirror

By RJ O. Taduran

he word “forensic” came from the Latin term forensis, which means “before the forum.” Dictionary.com classifies “forensic” as an adjective with this definition: “Relating to, used in, or appropriate for courts of law or for public discussion or argumentation.” In short, be it chemistry, or anthropology, anything with “forensic” is basically any field that is applied to the law. This is why when we use the word “forensics,” which is a noun, it is assumed to be the application of scientific knowledge and methodology during investigations, mainly criminal, as governed by the standards of evidence and procedure permitted by the law. One of the crucial differences between a police detective and a forensic scientist is the approach—given the available pieces of evidence, the former would try to identify who is/are the perpetrator(s), while the latter would try to figure out how an incident of interest happened. So yeah, that classic rock anthem “Who are You” by The Who may not be an appropriate theme at all for a popular television show about forensic scientists. The 2022 election season has made more prominent the field of forensics, mainly because of debates about crowd sizes in campaign rallies. To determine if photos of large gatherings are real, edited, or fake, enthusiastic people have performed digital image analysis with image editing software and/or websites, where one can upload photos and do different layers of inspection for free. Some of the “forensic examinations” of the questioned images are really impressive, as they demonstrated proficiency in art, photography, even in physics. There have been many disputes about crowd estimates as well. To find out crowd density and uncover any misrepresentation or overestimation, passionate folks have conducted their very own scrutiny by using Google maps and other readily available websites to prove or disprove assessment provided by the police or the political party involved, while relying on their aptitude on geography, proxemics, and statistics. Forensics, as it should be, is interdisciplinary in nature—the more fields in the mix, the better and more reliable the analysis.

Electoral fraud

How can one determine if there are illegal interferences or election manipulation? Experts in election forensics prefer to employ various statistical methodologies developed in the field of forensic accounting. Poll data are numerical, and the fundamental principle is that votes should follow naturally occurring patterns produced by a natural process, as in the case of a free and honest election. The main goal is to detect deviations from what is expected to happen, because these would indicate alteration or manipulation of the voting results. Electoral fraud, just like any other crime, leaves distinctive traces. In this time of automated elections, votes are considered big data that upsurge in terms of volume, variety, and velocity, as each vote counting machine or VCM can accommodate 800-1,000 voters. One of the more preferred quantitative methods in election forensics is called Benford’s Law. It is a probability distribution for the likelihood of the first digit in a set of numbers, but it can also be used to predict the distribution of second digits, third digits, digit combinations, and so on. Benford is widely used in auditing to identify “doctored” numbers. Another approach detects incremental and extreme fraud from the concurrent statistics of vote and turnout numbers. According to a

US . . .

continued from A12

secretary-general of the human rights group Amnesty International, said in a statement, “there are grim signs that the United States is out of step with the progress that the rest

Clean and fair elections are the foundation of every democratic society. Election Day is a day when all of the citizens are truly equal. I hope there will be no need for election forensics on May 9, but as the age-old Pinoy joke would go: “Walang natatalo sa eleksyon, ang meron lang yung nananalo at yung nadadaya.” study led by complex systems scientist Peter Klimek: “Incremental fraud means that, with a given rate, ballots for one party are added to the urn and/or votes for other parties are taken away. Extreme fraud corresponds to reporting a complete turnout and almost all votes for a single party.” Incremental fraud could be what we call dagdag-bawas in Philippine elections. It is possible to hack an election because there are weaknesses in any automated system. In this time of electronic voting technology, one would need computer experts to confirm or refute any hacking events. While the Commission on Elections (Comelec) has assured the public that the data leak in the Smartmatic system was not related to the election, some are still afraid of any possible electoral fraud via cyberhacking come Election Day. Election officials should consider forensic examination when there appears to be failure in terms of accuracy, availability, secrecy, and anonymity, as stated in a technical paper by computer scientist Matt Bishop of University of California, Davis and colleagues. “Attackers could infiltrate election-management systems,” warned University of Michigan’s J. Alex Halderman in his interview with Scientific American. Malicious computer programs can be implanted in voting machines, which could lead to incremental or extreme electoral fraud. But just like what I previously said, electoral fraud, like any other crime, leaves distinguishing traces. Computer programs follow certain commands, and those commands would show signs of patterns that are not natural, patterns that are not human-like. This is why election forensics would need an expert in human behavior as well. Amidst all the statistics and computer science, the human behavior expert can answer the questions related to the patterns revealed by the quantitative methodologies. Can a group of people in a certain environment vote this way? Humans are bad at being random, yet they do not follow rigid patterns (of behavior) like a computer program would do. Humans continuously learn, and learning as course of adaptation has increased during human evolution. This makes our species not too random or too predictable, but just natural. Clean and fair elections are the foundation of every democratic society. Election Day is a day when all of the citizens are truly equal. I hope there will be no need for election forensics on May 9, but as the age-old Pinoy joke would go: “Walang natatalo sa eleksyon, ang meron lang yung nananalo at yung nadadaya.” Dr. Richard Jonathan O. Taduran is a forensic scientist, with specialization in biological and forensic anthropology.

of the world is making in protecting sexual and reproductive rights.” Sherman reported from Mexico City. Associated Press writers Karl Ritter in Stockholm, Sweden; AlmudenaCalatravainBuenosAires,Argentina; Mauricio Savarese in Rio de Janeiro; Carley Petesch in Dakar, Senegal; Ilan Ben Zion in Jerusalem; and Isabel DeBre in Dubai, United Arab Emirates, contributed to this report.

Val A. Villanueva

Businesswise

he decision of the Securities and Exchange Commission (SEC) to reverse its earlier decision that revoked the license and registration of Venture Securities Inc. as broker dealer is viewed by most stockbrokers as a vindication of their profession.

In a chat over lunch, Eagle Securities President Joey Roxas and company consultant Den Somera told BusinessWise that the decision exonerates the industry from malfeasance committed by investors who are in cahoots with some industry employees. These lawbreaking investors engage in creative tactics that deceitfully go under the radar, and often go off the hook, while laughing all the way to the bank. They vanish into thin air, far from the reach of the media and the long arm of the law. The scam, which the Philippine Stock Exchange (PSE) describes as the “worst-ever to hit a brokerage house,” is about two companies: the 50-year-old R&L Investments Inc. and Venture Securities Inc. They were heaved into the duplicitous schemes implemented by R&L employee Marlo Moron, and Venture client Julieto Sulapas. The two contrived to make money out of EQ trades, a platform used for transferring shares between brokerage houses. This platform allows clients to transfer their shares between brokerage houses where they have existing accounts, provided that the shares to be transferred from one brokerage house to another are under the same name. Moron stole the shares of R&L clients, transferred them to Sulapas who in turn instructed Venture to sell them. This went on for seven years, without anyone from both the regulatory

arms of the SEC and PSE noticing. This resulted in P1.13 billion worth of client shares in R&L being transferred to Sulapas’s Venture account, using EQ trades stashed by Moron between 2012 and 2019. The scam was uncovered in November 2019, when at the end of one trading day, R&L failed to account for P3 million worth of its client stocks. A thorough pencil-pushing shocked the company. Its entire inventory was wiped out, resulting in the loss of P700-million worth of client shares. The enormous loss weakened R&L’s cash position so much so that it was not able meet the demands of its clients for the delivery of securities and payment of sales proceeds. On June 11, the SEC revoked R&L’s license. The firm and its key officers were slapped with P25 million in penalties. The SEC’s special hearing panel (SHP) found R&L President Joseph Lee, nominee and treasurer Lucy Linda Lee, and associated person Jonathan Lee liable. It also found Moron and Sulapas answerable for engaging in fraudulent transactions and violating the Securities Regulation Code (SRC). Venture, on the other hand, was stripped of its broker-dealer license and slapped with penalties totaling P32 million by the SHP for its role in the fraud that led to R&L’s collapse. In its June 11 decision, the panel cited acts and omissions on

Thursday, May 5, 2022 A13

the part of Venture and its officers that “indispensably contributed to, if they had not been the proximate cause of, the losses incurred by the clients of R&L.” In a March 29, 2022 Resolution, the SHP overturned the decision to revoke Venture’s license and registration as broker dealer. The SHP found that Venture did not act in bad faith. The ruling is consistent with the finding of the SEC’s Investigation and Review Committee (IRC), which filed the charges against Venture. In its August 17, 2020 Final Investigation Report, the IRC determined, among others, that it did not find sufficient evidence that Venture committed acts tantamount to fraud under Section 26 of the SRC, noting the adequate supervisory control procedures the company had in place to enforce all applicable SEC rules and securities regulations. BusinessWise tried but failed to get an update on the case of R&L. All efforts must now be focused on the immediate arrest of Moron and Sulapas to answer for the massive fraud, Roxas and Somera said. The government should show its teeth, while the PSE and the SEC should sharpen their fraud monitoring—no matter how difficult the task is—to avoid copycats from sprouting. Personally, I believe that greed drives wily people to engage in getrich-quick-schemes that must be nipped in the bud. It is unfortunate that financial frauds keep rocking the equities market. In 2016, Jose Peñaflor, a PSE employee and veteran trader, managed to steal P100 million from clients he duped into thinking they would be investing in legitimate stocks. In August last year, 22 years after the stock market was stunned by the biggest scandal in its history, Johnny Yap of Solar Securities was convicted for illegal trades linked to the 1999 stock price manipulation scam involving BW Resources

Corp. For causing a mind-boggling 1,462-percent surge in the share price of BW in just one year, Yap was sent to prison for 14 years by the Pasig City Regional Trial Court (RTC) and ordered to pay a fine of P1 million. The challenge lies in exploring the best ways for regulators to cope with, if not totally halt in its track, the rapid mutation of illegal moneymaking schemes. Moron, who started out as an R&L clerk, gained the trust of Lucy Lee who taught him the ropes. Soon, he obtained viewing access to R&L’s back-office system, and eventually all the shareholdings and business partner portfolio reports of the company’s clients. The penalties slapped on R&L and Venture are harsh and cruel. R&L had to make huge financial amends by selling real estate and other personal assets to cover the stolen shares of its clients. Worse, the scandal proved too much for Lucy Lee to bear. She died, her family said, heartbroken from the stress of witnessing how the scandal caused the collapse of their half-a-century-old family business founded by patriarch Rene Lee who died in December 2017. Venture has always maintained that it was also a victim of the scam. Among its arguments—which I believe the SEC found credible—is that Venture had no prior knowledge of and active participation in the fraud. The company alleged that the scam was committed exclusively within R&L and that the penalties and fines were “disproportionate and not commensurate to the infractions and lapses committed, if any, by Venture.” Venture added that the SHP ignored the Consolidated Scale of Fines as indicated in SEC Memorandum Circular 6, Series of 2005, under which the highest penalty is P100,000 and reprimand/warning for each of the cited violations. For comments, suggestions, e-mail me at mvala.v@gmail.com

Pope Francis Ukraine diplomacy: A political and spiritual tightrope

By Nicole Winfield | The Associated Press

ATICAN CITY—His appeals for an Orthodox Easter truce in Ukraine went unheeded. His planned meeting with the head of the Russian Orthodox Church was canceled. A proposed visit to Moscow? Nyet. Even his attempt to showcase Russian-Ukrainian friendship fell flat. Pope Francis hasn’t made much of a diplomatic mark in Russia’s war in Ukraine, seemingly unable to capitalize on his moral authority, soft power or direct line to Moscow to nudge an end to the bloodshed or at least a cease-fire. Rather, Francis has found himself in the unusual position of having to explain his refusal to call out Russia or President Vladimir Putin by name—popes don’t do that, he said—and to defend his “very good” relations with the head of the Russian Orthodox Church, who has justified the war on spiritual grounds. While the long list of dead ends would indicate a certain ineffectiveness, it is par for the course for the Vatican’s unique brand of diplomacy that straddles geopolitical realities with spiritual priorities, even when they conflict. And in the case of Ukraine, they have: Francis has sought to be a pastor to his local flock in Ukraine, incessantly calling for peace, sending cardinals in with humanitarian aid and even reportedly proposing that a Vatican-flagged ship evacuate civilians from the besieged port of Mariupol. But he has also kept alive the Holy See’s longer-term policy goal of healing relations with the Russian Orthodox Church, which split from Rome along with the rest of Orthodoxy over 1,000 years ago. Up until recently, Francis held out hope that he would secure a second meeting with Russian Patriarch Kirill, even while Moscow bombed Ukrainian civilians. Francis recently revealed that their planned June meeting in Je-

rusalem had been called off, because Vatican diplomats thought it would send a “confusing” message. But he also told an Italian newspaper Tuesday that he had offered to go to Moscow to meet with Putin, and wondered aloud if Nato’s eastward expansion hadn’t provoked the war. To his critics, Francis’ continued outreach to Moscow even amid reported atrocities harks back to the perceived silence of Pope Pius XII, criticized by some Jewish groups for failing to speak out sufficiently against the Holocaust. The Vatican insists Pius’ quiet diplomacy helped save lives. “Francis is doing what he can, with the right priorities, to stop the war, stop people from suffering,” said Anne Leahy, who was Canada’s ambassador to the Holy See from 2008-2012 and ambassador to Russia in the late 1990s. “But he’s keeping channels of communication open in every way he can. Even if it doesn’t work, I think the idea is to keep trying,” she said. Leahy noted that a pope must have as a top priority this Gospelmandated objective to unify Christians, and that relations with the Orthodox therefore must remain at the forefront. “Diplomacy is at the service of the church’s mission, and not the other way around,” she said in a telephone interview. At times, Francis’ words and gestures seem contradictory: One day he sits down for a videoconference with Kirill that is prominently featured on the website of the Russian Orthodox Church with a statement saying both sides had expressed hope for a “just

peace.” Three weeks later, he kisses a battered Ukrainian flag brought to him from Bucha, where Ukrainian civilians were found shot to death with their hands bound. The Vatican has a long tradition of this dual-faceted diplomacy. During the Cold War, the policy of “Ostpolitik” meant that the Vatican kept up channels of communication with the same Communist governments that were persecuting the faithful on the ground, often to the dismay of the local church. Francis’ decision to continue with the “classic Vatican diplomacy of Ostpolitik, of dialoguing with the enemy and not closing the door, is debatable,” said the Rev. Stefano Caprio, professor of church history at the Pontifical Oriental Institute. “Those who are upset that the pope isn’t defending them more are right, but those from the diplomatic side who say ‘We can’t throw away these relations’ are also right. They are obviously in contradiction,” he said. “But since we’re not talking about an argument of faith—we aren’t talking about the persons of the Holy Trinity—you can have opinions that differ from the pope,” he added. In some ways, Francis’ role on the sidelines of the Ukraine conflict can be traced to his position when Russia annexed Ukraine’s Crimean Peninsula in 2014 and the Holy See appeared at least publicly neutral, despite appeals from Ukrainian Catholics for Francis to strongly condemn Moscow. Instead, Francis described the ensuing conflict as the fruit of “fratricidal violence,” as if both sides were equally to blame and that the conflict was an internal Ukrainian matter. “My experience in 2014 is that the existence of the Greek Catholics was seemingly an embarrassment and a frustration with the Holy Father and the Holy See,” said John McCarthy, who was Australia’s ambassador to the Vatican at the time. “Their pri-

ority was the relationship with the Russian Orthodox” and securing a meeting with Kirill. Francis eventually obtained that long-sought meeting, embracing Kirill in a VIP room of the Havana, Cuba, airport on February 12, 2016, in the first meeting between a pope with the Russian patriarch since the 1054 Schism. The two men signed a joint statement that was hailed by the Holy See at the time as a breakthrough in ecumenical relations. But it enraged Ukraine’s Greek Catholics because, among other things, it referred to them as an “ecclesial community” as if they were a separate church not in communion with Rome, and didn’t mention Russia’s role in the separatist conflict in eastern Ukraine. Fast forward to 2022, and Francis again upset the local Ukrainian church: The Vatican had proposed that a Ukrainian and Russian woman carry the cross together during the Vatican’s torchlit Good Friday procession at the Colosseum. The gesture, which preceded Francis’ unheeded Easter appeal for a truce, was an attempt to show the possibility of future Russian-Ukrainian reconciliation. But the Ukrainian ambassador objected, and the head of Ukraine’s Greek Orthodox faithful, Archbishop Sviatoslav Shevchuk, decried the proposal as “inopportune and ambiguous,” since it didn’t take into consideration the fact that Russia had invaded Ukraine. In the end, the Vatican compromised: The women carried the cross but instead of reading aloud a meditation that had called for reconciliation, stood together in silent prayer. Leahy, the former Canadian ambassador, said the outcome was a classic example of papal pastoral care bridging Vatican diplomacy: Francis listened to Shevchuk’s complaint and modified the ritual, while keeping his broader agenda of dialogue with Russia alive.

A14 Thursday, May 5, 2022

DREDGING AT CAGAYAN RIVER DEPLETING FISH? By Jasper Emmanuel Y. Arcalas @jearcalas

AGAYAN fisherfolk on Wednesday said the ongoing river dredging allegedly for black sand mining in the Cagayan river has caused a sharp decline in their fish catch resulting in a deep cut in their weekly income. In a statement on Wednesday, fishermen in Aparri, Cagayan opposed the Cagayan River Restoration Project, which they claimed is being used as a disguise for black sand mining operations in the area. The fisherfolk argued that the dredging activities have destroyed habitat and disrupted spawning cycles of fish and other marine resources, including the aramang or soft-shelled link shrimps, the binnek and unnok clams, and catadromous fishes like ludong, which are all endemic in the area. “Our catch has dwindled since the dredging began. The tonnes of fish we usually get are gone,” said Marlyne Bugarin, wife of a fisherman and dried fish vendor. Edison Palattao, another Appari fisherfolk, said the dredging operations have been non-stop and affected their fishing operations in the area. “From what we are seeing and experiencing, the dredging activity is not following the designated area and time of operations in the river. The operations are non-stop even during the hours when we are fishing in the area,” he said. “That is why our operations are affected and our nets are getting destroyed. The noise caused by dredging operations disturb the fish in the area, forcing them to go away, making it harder for us

to catch them,” he added. The fisherfolk claimed that their income from December 2021 to April 22 has plunged to a low range of P300 to P1,000 for three days’ work, which is nowhere near the P3,000 to P7,000 that they earned before the dredging operations began in early 2021. The fisherfolk called on the next Philippine president to issue an executive order to stop the government-led dredging that aims to desilt the Cagayan River and make way for the construction of an international seaport in Aparri. “What use will the port have when there is no catch? What use is development when there is no food? What use is development when the environment is ruined?” local parish priest Fr. Manuel Catral said in the statement. Antonio Liquigan, a retired professor at the Cagayan State University, said the fish population in the Cagayan river could die or suffer from imbalance due to the strong pressure from the dredging operations. “A sudden change of pressure and temperature will affect the fish, leading to their depletion. We know very well with our fishery laws, the placing of obnoxious substances and other toxic elements, disposing of it on the water is highly prohibited because it will lead to the depletion of fish,” he said. “How much more, the effect of that strong pressure which creates a very strong current. We know very well the characteristics of fish - they go with the current and at that moment when the opening of that sucking device, they will be crushed. That is the direct killing of the organisms,” he added.

PhilHealth pushing through with premium rate hike in ’22

By Bernadette D. Nicolas

@BNicolasBM

TATE-RUN Philippine Health Insurance Corporation (PhilHealth) announced that it is finally pushing through with the scheduled premium contribution hike this year after it deferred the move last year. PhilHealth Senior Manager Rex Paul R. Recoter said on Wednesday they are duty-bound to collect the higher premium rate of 4 percent this year since Congress has yet to pass a new law allowing the deferment of scheduled premium adjustment in the Universal Health Care (UHC) Act. Under the UHC law, premium rates should gradually increase starting from 2.75 percent in 2019 until it reaches 5 percent for both 2024 and 2025. For this year, the premium rate for this year should be at 4 percent, with the income floor fixed at P10,000 and the income ceiling set at P80,000. PhilHealth last year agreed to postpone the premium hike to 3.5

percent from 3 percent in 2020 under an “interim arrangement” that will be good only until Congress passes a new law allowing for the deferment. “There are now pending legislative bills on the suspension of increases…The House of Representatives has already approved the suspension of premium increases. However, in the Senate, it is remained pending under Senate Bill No. 2097,” Recoter told reporters in a virtual press conference. The said Senate bill, which was filed in March last year, is still pending second reading. Congress has adjourned its session in February until May 22 this year for the May 2022 polls and will briefly resume

from May 23 to June 3 this year. Recoter said the adjusted premium contribution rate of 4 percent shall take effect for the applicable month of June this year for employers and self-paying members using the Electronic Premium Reporting System (EPRS) and the PhilHealth Member Portal (PMP), respectively. However, the PhilHealth official also said they will still be collecting the 1 percent differential per month that they were not able to collect from January to May this year. “As of now, we are collecting the 3 percent premium rate but once the system of PhilHealth is fixed as of June, next month we will start collecting 4 percent,” he said, adding that they will also collect the 1 percent differential. Direct contributors who have already paid for their contributions at 3 percent premium rate are also given until December 31 this year to settle the 1 percent differential without interest, Recoter said. Meanwhile, billing statements will be issued to non-EPRS and non-PMP-registered users who shall pay only at the nearest local

health insurance office. For this year, Recoter said they are targeting to collect P189 billion in total premium contributions, which is 10.4 percent higher than their actual collection last year of P171.17 billion. As of March this year, PhilHealth has so far collected P24 billion, equivalent to only 12.7 percent of their goal for this year. PhilHealth Spokesperson and Vice President for Corporate Affairs Group Shirley B. Domingo also assured the public that the state health insurer is in a “very good” financial status. In 2021, PhilHealth booked a net income of P32.84 billion and paid P140.16 billion in benefit claims. “Our reserve fund is constantly increasing. There was a growth of 25 percent versus last year and we are adopting new standards as prescribed by the Department of Finance, ‘yung PFRS (Philippine Financial Reporting Standards) 4 and PFRS 9 in compliance to those directives so we’re good pa rin ‘yung ating financial status in spite of the pandemic,” Domingo said.

No coercion on Ragos, ex-DOJ chief insists By Joel R. San Juan @jrsanjuan1573

ORMER Justice Secretary Vitaliano Aguirre II has denied coercing former Bureau of Corrections (BuCor) officer-incharge Rafael Ragos to execute statements and testimonies implicating Senator Leila de Lima in the illegal drug trade inside the New Bilibid Prisons (NBP) when she was secretary of the Department of Justice. In a statement, Aguirre questioned the timing of Ragos’ recantation considering that the May 9 national elections is only a few days away and De Lima, who is facing drug-related cases before the Regional Trial Court in Muntinlupa City, is lagging in the senatorial race. “Is it possible that Mr. Ragos is being used as a pawn in a last-ditch efforts to gain sympathy from voters?” Aguirre asked. “As to the motives of Mr. Ragos, we can only surmise. However, I know for a fact he was asking for payment of back pay during the time that he was not receiving his regular pay but he did not receive any,” the former justice secretary said. He also claimed that Ragos has an axe to grind because his request to be appointed to some government post was ignored. Aguirre is confident Ragos’s retractions would not be given weight by the court in deciding De Lima’s drug cases. “Lastly, as a lawyer, allow me to state that it is a time-honored rule that retractions are unreliable unless backed up by incontrovertible evidence. As it is, devoid of any reliable back-up, the statement of

Mr. Ragos is a worthless piece of paper,” Aguirre said. Aguirre admitted being surprised with Ragos’s accusation against him, since the latter voluntarily executed his statements against De Lima. “Mr. Ragos has always made it clear to me that his statements are true and he was voluntarily offering them to us to correct an injustice and to tell the truth,” Aguirre stressed. Aguirre noted that Ragos testified under oath twice before the House of Representatives on De Lima’s involvement in the NBP illegal drug trade. On June 7, 14, 28 and July 12, 2019, Ragos also testified before the Muntinlupa RTC and reiterated his earlier testimony in the House and his allegations against the senator. Aguirre noted that he left his post as justice secretary on April 5, 2018, or almost a year before Ragos testified before the trial court. “Evidently, whatever pressure that Mr. Ragos claimed I exerted on him is non-existent by the time of his testimony before the RTC,” Aguirre explained. He a l so p oi nte d out t h at Ragos’s aide and agent of the National Bureau of Investigation (NBI), Jovencio Ablen, Jr., has maintained his allegations against De Lima. The DOJ should look into the possibility of reinstating Ragos as co-accused in the drug cases filed against De Lima, Aguirre said. Ragos’ recantation came several days after confessed drug lord Kerwin Espinosa recanted his sworn statements accusing De Lima of benefitting from the illegal drug operations in the NBP.

A CARRIER-BASED J-15 fighter jet takes off from the Chinese Navy’s Liaoning aircraft carrier during open-sea combat training in waters from the Yellow Sea to the East Sea and West Pacific. China's aircraft carrier group has embarked on a “realistic combat” training mission in the Western Pacific, the Chinese navy said Tuesday, May 3, 2022. China operates the world’s largest navy by number of ships, while the US maintains an edge in aircraft carriers and nuclear submarines as well as in numbers of bases and allies in the region, where the competition is focused on the strategically vital South China Sea. HU SHANMIN/XINHUA VIA AP

‘Bato’ tweaks report after e-sabong is stopped By Butch Fernandez @butchfBM

HE chief Senate prober on the e-sabong controversy said the Committee on Public Order and Dangerous Drugs will still release a report even after President Duterte ordered a stop to all operations on online cockfight betting, a multibillion-peso trade. Senator Ronald dela Rosa said he will release the report this week. Meanwhile, Senator Francis Tolentino said a new law will still be needed before any decision is made to allow e-sabong to resume, if ever. This, as he reiterated his point during the hearings that the grant of licenses to the operators was illegal from the start, having been based merely on a legal opinion from the Department of Justice. For his part, Senator Christopher Go said Duterte’s decision was made after a very thorough study of the situation—the revenue considerations, as well as the social costs from gambling addiction and the rising crime related with it, as seen in the disappearance of 34 sabungeros. According to dela Rosa, he had to revise parts of the report after Duterte

issued his order late Monday night. Initially, dela Rosa indicated committee probers are poised to recommend stricter e-sabong regulations limiting its operations only during Sunday and holidays, to end its current 24-hour and daily operations. But right now, the senator noted, there is nothing to regulate as President Duterte ordered its indefinite suspension—noting that such was the preference of the senators, as expressed in their unanimous call to the President in March. According to Tolentino, the Senate did “a good job” in investigating the controversial e-sabong operations, having discovered the bad effects of e-sabong on society and on the lives of those addicted to gambling, as well as the abduction of 34 sabungeros. Before President Duterte conveyed his order to stop e-sabong, senators have been seeking its suspension since March while investigating the apparent abductions of the still missing cockfight aficionados. Senator Tolentino asserted that the on-line e-sabong operations cannot just be resumed as the President himself gave the order to close it down.

He suggests it will require an enabling legislation allowing the resumption of online sabong or esabong operations that President Duterte already shut down. Tolentino recalled that in its nearly two years of operation, e-sabong ran even without an enabling law, with only a legal opinion from the DOJ and the Solicitor General saying e-sabong can be regulated by the Philippine Amusement and Gaming Corp. (Pagcor) Owing to the legal opinion that Tolentino tagged the original sin, Pagcor issued licenses to e-sabong operators and the Bangko Sentral ng Pilipinas allowed digital wallets to be channels for bets on e-sabong. And, because such legal opinion was the only basis, no clear rules were laid down as to the collection of taxes. As a result, taxes on the winnings from e-sabong were not taxed since the trade began in the second quarter of 2020. Pagcor was only able to collect a measly regulatory fee of P12,500 for every sabong or “sultada.” The state gaming agency earlier told senators it drew a revenue share, however, of P600 million a month from the operators.

The bills granting a legislative franchise as sought by e-sabong operators, are pending with the House and the Senate; and this is expected to be the main avenue for legalizing e-sabong. However, senators are not expected to act on this anytime soon, since majority of them had opposed e-sabong, and because the 18th Congress is set to close on June 4 anyway. Meanwhile, Senator Go said the President’s decision weighed heavily the survey done by the Department of he Interior and Local Government submitted to the President. Duterte considered the social cost of e-sabong operations, especially the widening problem of people addicted to gambling, or even minors being able to place bets, Go revealed. The President, Go said, was appalled by the story of a Pasig City woman who sold her child for P45,000 to raise funds to repay gambling debts. Meanwhile, Go urged the Philippine National Police and National Bureau of Investigation to resolve immediately the cases of the 34 missing sabungeros.

Companies

Editor: Jennifer A. Ng

Thursday, May 5, 2022

Lucio Tan grandson to take over the reins of LT Group

By VG Cabuag

@villygc

ucio C. Tan III, the grandson of tycoon Lucio Tan, has been appointed as the company’s vice chairman and chief operating officer (COO) of LT Group Inc. (LTG) after the company’s annual stockholders’ meeting on Wednesday. His appointment took effect immediately. Tan III, formerly a director, replaces his uncle Michael G. Tan. “Michael G. Tan will continue to serve in his capacity as president, during a transition period, while sharing the decision-making for business and operational matters with Lucio III, who will be taking over the position as president and COO no later than April 20, 2023,” the company said. During this transition period, Michael will progressively turn

over the functions of the president to Tan III and they are expected to share decision-making for business and operational matters. “I am very grateful for the trust and confidence of the chairman and the board of directors. I am fortunate to be working with the best minds in business, who have helped create a leadership succession plan that will ensure stability and business continuity for the LT Group,” Tan III said. Tan III is the eldest son of the late Lucio “Bong” Tan Jr., former director

of LT Group and son of the tycoon. He has assumed various leadership roles within the conglomerate since he settled in the Philippines in 2019. “It is my honor to be entrusted with this responsibility. I intend to uphold the values that are strongly held by my grandfather, Lucio C. Tan and which I likewise hold dear—the values of integrity, hard work, and diligence.” Tan III is a director of Philippine Airlines (PAL) and vice president of PAL Holdings. He also serves as director of PAL Express, Philippine National Bank (PNB), MacroAsia Corp., Lufthansa Technik Philippines, MacroAsia Catering Services Inc., MacroAsia SATS Inflight Services Corp., MacroAsia Airport Services Corp., MacroAsia Properties Development Corp., Belton Communities Inc., Eton City and First Homes Inc. As president and COO of Tanduay Distillers, he steered the company throughout the pandemic and managed to boost its net income to historic levels of P1.1 billion in 2020 and P1.2 billion in 2021. Under his leadership, Tanduay’s international

business continued its growth trajectory through aggressive marketing expansion and partnerships with top global distributors. During the stockholder’s meeting, still chaired by Michael, he said the company has allotted P12 billion in capital expenditures, a third higher than the previous year’s P9 billion. He said the increase is for the higher IT budget of PNB, and the construction projects of Eton and Ayala Land Inc.-Eton. “Overall, 2022 should be a better year than 2021 as the economy opens up and as more and more people get vaccinated. The opening up of the economy means that the purchasing power of consumers will improve and bodes well for our different businesses,” he said. “This should mean increased demand for the products of PMFTC, Tanduay and Asia Brewery. Eton should have higher occupancy rates, but it will take time for the fit-outs of new office and retail tenants. An improved economy will also mean less non-performing loans and higher margins for PNB.”

MPIC core income rises by 23%

onglomer ate Metro Pacific Investments Corp. (MPIC) on Wednesday said its core income in the first quarter rose 23 percent to P3.1 billion, from last year’s P2.5 billion. The company said it benefitted from continued economic recovery and intensified election-related activities in the country. Toll road traffic is now close to pre-pandemic levels, and power consumption has increased as more industries ramped up their operating capacity, the company said. Contribution from operations

increased 14 percent to P4.3 billion, with power still contributing more than half to P2.5 billion, followed by toll roads at P1.2 billion, water at P600 million and its other business of mainly hospitals and light rail at P76 million. Following a series of debt refinancing and re-rating activities that were implemented last year, MPIC said it is now enjoying the benefits of a significant reduction in its average interest rates, evidenced by the 11 percent decline in net interest costs for the first quarter. “Understanding this intercon-

Cebu Pacific resumes jet flights to Bicol airport

VW sees better chip supplies in H2

UDGET carrier Cebu Pacific said on Wednesday it has resumed its jet operations at the Bicol International Airport. Cebu Pacific Chief Commercial Officer Xander Lao said the carrier decided to redeploy its Airbus A320 for its Legazpi operations to offer more seats in time for the summer peak travel period. “Since the new airport opened in October last year, we have been operating our 78-seater ATR or turbo propeller type aircraft. The addition of jet flights will enable Cebu Pacific to serve more passengers with our Airbus fleet while continuously contributing to tourism and economic growth of the Bicol region,” he said. The carrier currently flies up to five times daily on the Manila – Legazpi – Manila route. It also operates flights between Cebu and Legazpi up to four times weekly, every Monday, Wednesday, Friday, and Sunday. Cebu Pacific operates the widest domestic network in the Philippines covering 34 destinations, on top of its 14 international destinations. Its 76-strong fleet, one of the youngest in the world, includes two dedicated ATR freighters. Lorenz S. Marasigan

olkswagen AG expects the protracted shortage of semiconductors to ease during the second half of the year and contribute to a surge in output, offsetting months of curtailments. VW confirmed a projection that deliveries will rise by as much as 10 percent this year, it said Wednesday, even after production slumped by 12 percent during the first three months. Strong prices and demand for high-end premium cars helped to offset lower production, it said. “The overall situation of the world—with Covid in China, the war in the Ukraine, semiconductors still in short supply—this is quite a challenging environment,” Chief Executive Officer Herbert Diess said in an interview with Bloomberg TV. “I’m happy we could show resilience in the first quarter.” The company warned its upbeat forecast hinged on further developments from the war in Ukraine and China’s strict coronavirus policies weighing on the global economy. The company has managed to navigate the shortages of chips and wire harnesses from suppliers in Ukraine by reallocating resources between its main markets in Europe, China and North and South America, it said. The shares were almost unchanged in Frankfurt trading and have declined 16 percent since the start of the year.

nectedness is a crucial lesson we have learned from the pandemic: that we need to come together to work out how we can progress from a crisis; that our development as a business is tied to the advancement of others. Such progress is as significant as profit and is therefore linked to creating value for all. In other words, that our progress is yours as well,” MPIC Chairman Manuel V. Pangilinan said. Pangilinan said MPIC is keen on buying the stake of the Ayala Group in LRT-1, but the deal may happen after the elections.

So far, carmakers like MercedesBenz AG and BMW AG have come through the supply-chain crisis by raising sticker prices for new and used vehicles to offset the drop in production. Still, while demand remains strong, record price swings in commodity markets and the ongoing war in Ukraine are clouding the outlook. While Volkswagen has halted its operations in Russia, it also had to temporarily shut some sites in Europe after suppliers of wire harnesses in Ukraine were unable to deliver components. As Europe weighs reducing its dependence on Russia for oil and natural gas, Diess acknowledged that Volkswagen was concerned with threats to the energy supply at its factories. “We cannot really fully judge what’s going to happen in our supply chain, if there would be a cut off of gas, but we try to be as resilient as possible,” the CEO said on a call with reporters. Europe’s geopolitical crisis is reaffirming the carmaker’s push to expand its business in the United States, Diess said. Production of the electric ID.4 crossover is on course to start later this year at the company’s plant in Chattanooga, Tennessee, and VW’s purchasing chief said last month the carmaker was scouting possible locations for battery factories.

Ayala, including one more group, have both signified their interest to divest from LRT-1. “A great deal of it will depend on the outcome of elections because we need to understand what the new President might do in respect of LRT1 because we have pending applications for tariff adjustments, tariff increases for LRT -1 which have not been given since the concession was given some time in 2015,” he said. “So it’s been seven years (since) we’ve spent quite a bit of money to rehabilitate the existing system of LRT1.” VG Cabuag

“We see the American region as a continuously growing market,” Diess said. “America will be untouched by what’s happening in Europe, and it should be strategically a region where we invest more.”

Nickel hedging

VW already announced preliminary first-quarter earnings last month of 8.5 billion euros ($8.9 billion), almost double that of year ago. The jump was due to a surge in value of the company’s nickel hedging position following an historic short squeeze. On Wednesday, VW said price increases for its volume brands and customers choosing “wellequ ipped ” prem iu m veh ic les had helped to offset a drop in production. Strong demand in VW’s sport and luxury brand group, in particular for Porsche’s 911, Panamera and Cayenne models, helped boost operating profit to 1.4 billion euros with an operating margin of 18.6 percent, the company said. The Porsche brand remains on track for a potential initial public offering in the fourth quarter of this year, Chief Financial Officer Arno Antlitz said on a call with reporters. “If you look at the first-quarter results, it shows that the electric-car business model works well at Porsche,” Antlitz said. “It’s the right time to pursue this project.” Bloomberg News

Businesses urged to follow Google advertising rules Signage at the Google headquarters in Mountain View, California, United States, on Thursday, January 27, 2022. Photographer: David Paul Morris/Bloomberg

IGITAL marketing agency Truelogic Inc. reminded businesses that tap the online advertising arm of technology giant Google for brand awareness of the importance of following its new policies. Google recently announced that it will start implementing next month an updated version of its policy program for ad violations. Its pilot last July 2021 had a series of penalties for repeat offenders. The final third strike will result in indefinite account suspension. The actual trial started in September with three pre-existing policies for ads that earn violations including dishonest behavior, healthcare and medicine, and dangerous products/ services. The upgraded Google’s ad rule is set to commence on June 21, with a gradual ramp up over a period of three months. It will widen the scope of its system that would punish the non-compliant advertisers, with the addition of nine more policies in scope of the three-strike ads system, namely, compensated sexual acts, mail-order brides, clickbait, misleading ad design, bail bond services, call directories, forwarding services, credit repair services, binary options, and personal loans. Once an advertiser violates any of Google ads policy, a strike will be issued to his account via in-account notification and an e-mail. Each account can receive a maximum of three strikes and one warning for each policy breach. “Before you advertise, it’s important to familiarize yourself and to always look out for the evolving Google

Ads policies. Play by the rules and focus on creating compelling ads that will help your account safe from being suspended,” Truelogic Managing Partner Bernard San Juan III said. First time violators of Google’s above-laid policies will receive a warning and the ad will be removed. If the same policy is violated within 90 days after the warning, there will be a three-day hold placed on the account and the advertiser will not be eligible to run an ad. An additional violation within 90 days of the first strike will result in a second strike and a seven-day account hold. Lastly, for the third strike, if the same policy is violated within 90 days after the second strike, the account will be suspended. For the first and second strike, an advertiser has an opportunity to correct any violation. And after the correction, an acknowledgment form must be submitted to resume serving ads. If the account is in good standing for 90 days without additional violations, the strike expires. Accounts suspended after a third strike can’t run any ads or create new content unless the suspension is successfully appealed. San Juan reminded the advertisers to “make it a habit to review the content in your Google Ads accounts” and look for any disapprovals they may have and correct them right away. “If you find a campaign falsely flagged, appeal it,” he added. Adhering to the new policies, according to him, will be of big help as businesses will continue to reap the benefit of reaching their target audience. Roderick L. Abad

‘Hasten construction of LNG terminals’

he chairman of the Energy Lawyers Association of the Philippines (ELAP) said power industry stakeholders must move forward following the suspension of exploration activities in the West Philippine Sea. “We must accept that we might not be able to explore the West Philippine Sea and then move forward based on that assumption,” said Atty. Pedro Maniego during the European Chamber of Commerce in the Philippines’ webinar titled “Ensuring Energy Security for Tomorrow.” Fast-tracking the development of liquefied natural gas (LNG) terminals in the country is one way, said Maniego. “I think it will take a long time to resolve the West Philippine Sea considering the hard stance of the Chinese government that the area belongs to them. What we need is accept that probably we will not be able to drill there for a long time and accelerate LNG terminals because we need them. If we cannot have our own supply, we need to import LNG and how do you store them? You need the LNG terminals,” he said.

According to the Department of Energy (DOE), three LNG terminals are expected to start operations this year. These are the Pagbilao LNG terminal of Energy World Corp., Philippines LNG terminal of Atlantic Gulf & Pacific (AG&P), and the Batangas LNG of First Gen Corp. and partner Tokyo Gas. “There are already some applications for that but these are delayed and they are not moving fast enough because the projection is by 2024 or 2025 we will run out of Malampaya gas. Also, 2024 is the end of the agreement and it is already 2022.That is only two years from now and it takes a long time to build a terminal,” Maniego said. Gas from the Malampaya field is projected to be depleted by 2027. In fact, there has been gas restriction experienced in 2021 and early 2022. The Malampaya gas contract held by a consortium, meanwhile, is set to expire in 2024. The DOE earlier directed PXP Energy Corp. to put on hold all exploration activities for Service Contracts 72 and 75 until such time that the Security, Justice and Peace Coordinating Cluster has issued the necessary clearance to proceed. Lenie Lectura

Companies BusinessMirror

Thursday, May 5, 2022

Petron net income surges on oil demand recovery

By Lenie Lectura

@llectura

etron Corp.’s net income in the first quarter jumped to P3.6 billion, more than double the P1.73 billion it posted in the same period last year.

With the recovery in demand and higher international prices, Petron’s consolidated revenues leaped to P172.33 billion from last year’s P83.31 billion. From January to March, Dubai crude reached an average of $95.6 per barrel due to geopolitical tension and supply concerns triggered by the RussiaUkraine conflict. Consolidated sales volumes from the Philippines, Malaysia, and its trading unit in Singapore grew year-on-year, posting a 34-percent increase to 25.67 million barrels for the first quarter, due to higher demand and the easing of mobility restrictions.

Petron’s retail segment in the Philippines marked a 7-percent increase while its commercial volumes, including sales of its jet fuels and lubricant products, significantly improved by almost 50 percent in line with increased economic activity and gradual resumption of local and international travels. The oil firm saw significant volume growth in all its products. Total domestic sales jumped by about 43 percent, reflecting the over-all improvement in local demand. Petrochemical volumes rose by around 30 percent brought about by the increased demand for resin used for PPEs and online deliveries. Fueled

by the demand growth and higher prices of petrochemicals, Petron resumed operations of its polypropylene plant in January 2022 after a two-year shutdown. “Our efforts to increase our financial resilience, improve our efficiencies, and strengthen our brand equity have all yielded positive results. Two years into this pandemic, we now find ourselves in a position of renewed strength and confidence as we continue to navigate the industry with the same caution and prudence that helped us turn our financial performance around,” said Petron President and CEO Ramon S. Ang. The company opened more stations during the first quarter in major areas as part of its larger network expansion program. Since 2021, Petron has adopted a new modular and panelized construction system for some of its new builds, creating a more efficient and greener way to construct service stations. Meanwhile, its new power plant, which will be completed this year, will allow the company to more efficiently generate steam and power

for the Petron Bataan Refinery. This would make the country’s lone refinery not only capable of supplying 40 percent of the national fuel demand but also self-sufficient in terms of its power requirement. “These initiatives and more are meant to ensure the growth and sustainability of our business in the years to come. For us, the challenge ahead is not just to keep growing in terms of size but also to make a more significant impact in addressing environmental issues and building a better world for the next generations. We know there is more to do, and we are fully committed to seeing this vision through,” said Ang. Complementing its continuously growing retail network, Petron also added nine more Treats convenience stores since 2021 to beef up its nonfuel business. This March, Petron opened two new Treats stores at its KM 44 North and South Bound stations along South Luzon Expressway. Treats stores offer a wide variety of food, beverage, and personal items for motorists on-the-go.

SMFB recurring profit flat in Jan-March

an Miguel Food and Beverage Inc. (SMFB) said it recorded a recurring profit of P9.2 billion in January to March, flat compared to last year. The company said it experienced sharp increases in raw material costs and disruptions to supply chains brought about by the prolonged conflict in Ukraine that is pushing up prices of global commodities. The company’s income figures excluded its gains from the Corporate Income Tax and Incentives Reform Act. “We remain optimistic and steadfast in pursuing strategies that will drive long-term value for our shareholders. As the market continues to be dynamic, we will continue to manage the inflationary environment with the same level of discipline that carried us through the years,” SMFB President and CEO Ramon S. Ang said. Consolidated revenues grew 9 percent to P83.1 billion from the previous year’s P76.36 billion driven by a combination of volume growth and better pricing across multiple categories in its beer, spirits and food businesses. The company said its food business posted consolidated revenues of P40.8 billion, a 13-percent increase from last year as demand for its brands remained robust.

Its animal nutrition and health and flour segments posted a doubledigit revenue growth, while poultry and processed meats also posted higher sales. Advertising and promotional campaigns, expansion of distribution networks, superior product quality, and better pricing all contributed to the growth of the food business. Consolidated operating income ended at P4.2 billion from P4.5 billion. The beer business, meanwhile, reported revenues of P29.7 billion, 3 percent higher than last year on account of improved volumes in its international operations and price adjustments. Its income from operations was flat at P6.8 billion. The company said its beer business will continue to implement cost management initiatives to preserve profits moving forward. The company’s spirits business under Ginebra San Miguel continued its momentum as revenues jumped 11 percent year-on-year to P12.6 billion. Strong thematic campaigns, consumer promotions, a broadening distribution network, and efficiencies all supported growth, the company said. Its income from operations increased 39 percent to P1.8 billion from last year’s P1.3 billion. VG Cabuag

mutual funds

May 4, 2022

NAV

One Year Three Year

Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

216.02

5.51%

-6.63%

-4.18%

-7.32%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4633

14.94%

-3.54%

-0.52%

-12.07%

6.16%

-10.46%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9853

Climbs Share Capital Equity Investment Fund Corp. -a 0.7302 0.94% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6831 0.86% First Metro Save and Learn Equity Fund,Inc. -a

4.867

-6.7%

-7.8%

-8.12% n.a.

-3.48%

-8.14% n.a.

-11.39%

7.9%

-4.29%

-1.75%

-6.09%

First Metro Save and Learn Philippine Index Fund, Inc. -a

0.7231

11.87%

-6.61%

-5.16%

MBG Equity Investment Fund, Inc. -a

83.95

-12.3%

-12.68% n.a.

-11.1%

PAMI Equity Index Fund, Inc. -a

44.2746

5.51%

-5.67%

-2.82%

Philam Strategic Growth Fund, Inc. -a

463.6

5.3%

-5.47%

-2.91%

-7.41%

Philequity Dividend Yield Fund, Inc. -a

1.3132

21.18%

-0.39%

0.5%

-3.18%

Philequity Fund, Inc. -a

34.1094

7.96%

-4.51%

-1.51%

-6.79%

0.8757

7.36%

-5.98% n.a.

-6.98%

Philequity MSCI Philippine Index Fund, Inc. -a

-8.01%

Philequity PSE Index Fund Inc. -a

4.5874

6.7%

-4.96%

-2.11%

-7.53%

Philippine Stock Index Fund Corp. -a

763.24

6.15%

-5.06%

-2.19%

-7.88%

Soldivo Strategic Growth Fund, Inc. -a

0.6898

5.73%

-10%

-5%

-8.34%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4522

5.85%

-7.56%

-3.46%

-8.56%

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

0.8692

5.85%

-5.37%

-2.44%

United Fund, Inc. -a

5.33%

-5.41%

-1.22%

-6.87%

3.2012

-7.69%

-7.97%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1213

Philippine Stock Index Fund Corp. -a

931.18 n.a. n.a. n.a. n.a.

9.95% n.a. n.a.

-3.56%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

102.9928

6.75%

-4.79%

-1.76%

-7.61%

Primarily invested in foreign currency securities (shares) $0.9627

-23.84%

-2.34%

0.19%

-14.54%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.591

ATRAM AsiaPlus Equity Fund, Inc. -b

-10.25%

6.89%

7.04%

-13.83%

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

1.5794

-2.34%

-3.06%

-2.12%

ATRAM Philippine Balanced Fund, Inc. -a

2.1662

1.56%

-2.37%

-1.45%

-5.05%

4.23%

-0.95%

0.19%

-4.04%

First Metro Save and Learn Balanced Fund Inc. -a 2.5822

-6.65%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2005

8.09% n.a. n.a.

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

1.9328

2.74%

0.06%

0.57%

PAMI Horizon Fund, Inc. -a

3.557

1.39%

-1.24%

-0.71%

-5.53%

Philam Fund, Inc. -a

15.9462

1.35%

-1.53%

-0.78%

-5.34%

Solidaritas Fund, Inc. -a

2.0289

-4.36%

3.19%

-1.91%

-0.92%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4315 2.91%

-4.01%

-1.57%

-5.91%

Sun Life Prosperity Dynamic Fund, Inc. -a

-3.09%

-1.11%

-6.03%

0.8967

9.06%

-4.07%

-4.16%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.9299

-2.29%

-2.68% n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.8673

1.56%

-4.83% n.a.

-6.05% -8.17%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.8561

2.33%

-5.2% n.a.

-8.33%

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

$0.03386

-10.82%

-2.3%

-0.91%

$0.9734

-14.76%

-0.62%

0.48%

-8.78%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2153 -10.37%

4.04%

4.68%

-12.22%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0651 -10.53%

0.34%

1.34%

-11.14%

PAMI Asia Balanced Fund, Inc. -b

-10.75%

Bond Funds Primarily invested in Peso securities (shares)

Didi faces SEC probe related to IPO in US

he United States Securities and Exchange Commission (SEC) is investigating Didi Global Inc.’s chaotic 2021 debut in New York, when the ride-hailing giant raised $4.4 billion days before revelations of a Chinese probe into data security tanked the stock. Didi’s shares were down 7 percent in US pre-market trading, deepening an 85 percent loss since its initial public offering in the summer of last year. The Chinese company said it’s cooperating with the probe, without providing further details. US lawmakers had called last year for an investigation into Didi’s controversial IPO—the biggest by a Chinese firm since Alibaba Group Holding Ltd. China’s cybersecurity watchdog stunned investors by announcing its investigation into Didi two days after the listing, suspending the internet giant’s main apps from domestic stores. Bloomberg News

ALFM Peso Bond Fund, Inc. -a

373.65

0.76%

2.39%

2.43%

-0.17%

ATRAM Corporate Bond Fund, Inc. -a

1.8887

-1.18%

0.04%

0.12%

0.21% -0.02%

Cocolife Fixed Income Fund, Inc. -a

3.2435

0.65%

2.4%

3.55%

Ekklesia Mutual Fund Inc. -a

2.2081

-2.14%

0.71%

1.11%

-1.93%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4168 -0.57%

2.31%

1.77%

-0.38%

Philam Bond Fund, Inc. -a

4.2749

-4.38%

1.85%

1.17%

Philam Managed Income Fund, Inc. -a

1.3178

-0.18%

3.22%

2.81%

-0.1%

3.929

-0.86%

2.78%

2.5%

-0.93%

Philequity Peso Bond Fund, Inc. -a Soldivo Bond Fund, Inc. -a

-2.75%

1.0137

-1.16%

3.28%

1.94%

-1.41%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1615

-0.67%

2.99%

2.98%

-0.81%

Sun Life Prosperity GS Fund, Inc. -a

-1.32%

2.22%

2.29%

-1.01%

1.7131

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a

$482.19

-0.28%

1.97%

1.95%

-1.51%

ALFM Euro Bond Fund, Inc. -a

Є213.91

-2.64%

-0.33%

0.28%

-2.77%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0755

-8.27%

-2.72%

-0.77%

-10.67%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0246 -5.02%

-0.93%

-0.24%

-5.38%

PAMI Global Bond Fund, Inc -b

$0.9126

-13.09%

-5.02%

-3.14%

-10.77%

Philam Dollar Bond Fund, Inc. -a

$2.2575

-8.96%

-0.2%

0.44%

-9.91%

$0.0610119

-2.67%

1.55%

1.36%

-2.06%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7919 -10.98%

-2.13%

-1.2%

-12.65%

Philequity Dollar Income Fund Inc. -a

Money Market Funds Primarily invested in Peso securities (shares) 131.71

1.32%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0617

1.04%

1.69% n.a.

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3225

ALFM Money Market Fund, Inc. -a

1.52%

2.27%

2.4%

2.49%

2.53%

0.4% 0.38%

0.52%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0628

0.59%

1.23% n.a.

0.21%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

44.3697 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2637

2.98% n.a. n.a.

-8.62%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.8737

-11.75% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

-9.93%

d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

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

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

May 4, 2022

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG FILIPINO FUND MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

161,985 301,208,288 9,362,290 168,839,747.50 896,355 10,280,279 123,596,079.50 813,740 6,297.50 85,480 45,141,179 630,018 46,080 95,920 8,960 1,953 377,750 18,050 18,720 10,100 26,790

-17,075,775 5,968,216 32,828,086.50 -53,400 -9,054,481 -21,340,949.50 122,586 -1,880,469 10,592.00 -8,080 -

INDUSTRIAL AC ENERGY 7.62 7.63 7.45 7.62 7.34 7.62 12,509,200 93,822,973 ALSONS CONS 0.9 0.95 1.03 1.03 0.9 0.9 1,528,000 1,386,450 ABOITIZ POWER 32 32.15 31.15 32.15 31 32.15 1,148,400 36,458,725 BASIC ENERGY 0.355 0.36 0.365 0.365 0.355 0.355 3,040,000 1,087,450 FIRST GEN 23.2 23.3 23.3 23.3 23.2 23.2 143,800 3,343,605 FIRST PHIL HLDG 69.9 70.1 69.9 69.9 69.9 69.9 4,930 344,607 MERALCO 337 339 350 350 333.2 337.8 444,710 149,984,584 MANILA WATER 17.56 17.68 18.1 18.1 17.54 17.56 868,300 15,327,792 PETRON 3.52 3.53 3.25 3.53 3.21 3.52 6,049,000 20,755,990 PETROENERGY 4.97 4.99 4.99 5 4.95 4.99 87,000 433,930 PHX PETROLEUM 9.91 10.2 10.1 10.2 10.1 10.2 12,000 121,290 SYNERGY GRID 12.16 12.24 12.3 12.3 12.08 12.16 1,399,200 16,970,584 PILIPINAS SHELL 17.38 17.48 17.3 17.48 17.02 17.38 43,300 748,034 SPC POWER 13.84 13.9 13.9 13.94 13.8 13.9 179,100 2,489,220 SOLAR PH 1.52 1.53 1.55 1.56 1.48 1.53 68,850,000 104,502,110 VIVANT 14.06 16.68 16.7 16.7 16.7 16.7 1,500 25,050 AGRINURTURE 4.6 4.66 4.73 4.73 4.53 4.66 478,000 2,237,310 AXELUM 2.54 2.61 2.53 2.61 2.52 2.61 85,000 219,750 CNTRL AZUCARERA 12 12.78 12 12 12 12 1,000 12,000 CENTURY FOOD 22.2 22.45 22.9 22.9 22.1 22.2 419,000 9,307,935 DEL MONTE 14.2 14.3 14.28 14.3 14.2 14.2 11,100 157,802 DNL INDUS 7 7.07 7.15 7.2 7 7 814,700 5,755,323 EMPERADOR 19.98 20 19.8 20.15 19.6 20 1,274,200 25,350,479 SMC FOODANDBEV 57.95 58 62.15 62.15 56.2 57.95 261,370 15,227,788.50 FIGARO COFFEE 0.51 0.52 0.53 0.53 0.5 0.52 6,194,000 3,160,040 ALLIANCE SELECT 0.56 0.58 0.58 0.59 0.58 0.58 111,000 64,390 FRUITAS HLDG 1.04 1.05 1.05 1.07 1.03 1.05 741,000 782,550 GINEBRA 103 105 102.4 105 102.4 105 1,310 134,764 JOLLIBEE 216.8 222 220 222 216 222 269,290 59,063,328 KEEPERS HLDG 1.21 1.22 1.24 1.24 1.21 1.21 691,000 837,880 LIBERTY FLOUR 20.9 24.45 21.75 21.75 20.85 20.85 1,000 21,320 MACAY HLDG 3.99 6 6 6 6 6 200 1,200 MAXS GROUP 6.08 6.21 6.03 6.23 6.03 6.21 11,200 69,210 MG HLDG 0.121 0.129 0.125 0.129 0.121 0.129 1,670,000 203,100 MONDE NISSIN 13.8 13.9 13.3 13.9 13.14 13.9 17,099,900 231,950,646 SHAKEYS PIZZA 8.1 8.14 8.1 8.14 8.1 8.14 97,400 792,592 ROXAS AND CO 0.5 0.52 0.5 0.53 0.5 0.52 126,000 64,440 RFM CORP 4.12 4.29 4.29 4.29 4.29 4.29 3,000 12,870 ROXAS HLDG 1.14 1.24 1.23 1.24 1.1 1.24 462,000 568,240 SWIFT FOODS 0.1 0.106 0.1 0.1 0.1 0.1 50,000 5,000 UNIV ROBINA 110 110.8 106 110.8 105.4 110.8 1,544,670 168,084,237 VITARICH 0.57 0.59 0.57 0.57 0.56 0.57 219,000 123,880 VICTORIAS 2.71 2.89 2.89 2.89 2.71 2.89 15,000 42,810 CEMEX HLDG 0.8 0.81 0.81 0.82 0.8 0.81 463,000 375,530 EAGLE CEMENT 12.24 12.34 12.32 12.32 12.24 12.24 6,300 77,120 EEI CORP 4.21 4.25 4.27 4.29 4.21 4.25 69,000 293,190 HOLCIM 5.1 5.27 5.5 5.5 5.1 5.1 677,700 3,514,634 MEGAWIDE 5.01 5.05 5.05 5.09 5.01 5.05 200,300 1,013,421 PHINMA 19.76 19.88 19.88 19.88 19.76 19.88 4,841,600 96,248,624 TKC METALS 0.75 0.76 0.76 0.76 0.76 0.76 22,000 16,720 VULCAN INDL 0.89 0.9 0.92 0.92 0.88 0.89 954,000 850,400 CROWN ASIA 1.75 1.82 1.79 1.82 1.75 1.82 37,000 66,190 PRYCE CORP 5.6 5.63 5.63 5.63 5.6 5.6 7,200 40,506 CONCEPCION 19.2 19.94 19.12 19.96 19.12 19.96 1,100 21,872 GREENERGY 1.48 1.52 1.52 1.52 1.48 1.52 6,528,000 9,863,480 INTEGRATED MICR 7 7.02 6.98 7.15 6.98 7 279,300 1,959,661 IONICS 0.67 0.68 0.68 0.68 0.68 0.68 66,000 44,880 SFA SEMICON 1.07 1.15 1.1 1.15 1.1 1.15 20,000 22,600 CIRTEK HLDG 2.94 2.97 2.95 3.04 2.9 2.95 177,000 518,020

10,935,802 -459,680 208,485 59,585 141,897 -69,053,722 -11,680,908 13,108,010 44,640 653,538 -103,696 607,330 -394,060 87,690 -15,660 12,000 -349,480 -4,685,533 -1,857,637 -3,448,254.50 0 661,738 -24,710 -28,480,506 -611,314 -12,870 -4,389,930 -8,130 -123,010 -14,688 46,990 -55,660.00 -95,459,690 -5,600 3,030,850 -698,301 -

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP WELLEX INDUS

43.75 127.8 11.9 95.05 26.7 8.04 51 18.84 56 19.8 103 72.1 1.92 3.68 2.23 6.51 0.29 903 0.64 202.2 2,054

1.16 4.12 727 51.25 11.4 9.2 0.88 0.485 0.48 4.87 8.06 6.93 0.206 512 55.3 0.51 2.89 8.66 3.8 2.62 1.22 0.87 840 105 0.28

43.8 128 11.94 97.9 26.9 8.05 52 18.86 57.25 20.2 103.5 72.75 2.1 3.7 2.24 6.99 0.31 1,020 0.68 209 2,598

1.17 4.49 730 51.65 11.46 9.21 0.94 0.5 0.5 4.92 8.07 7.13 0.27 516 55.5 0.52 2.92 8.83 3.82 2.9 1.26 0.89 849 106.3 0.3

43.75 128.2 12.18 93.2 26.6 8.04 50.3 18.5 57.25 19.9 104.5 73 1.92 3.68 2.24 6.51 0.295 902.5 0.64 202 1,786

1.17 4.4 742 50.7 11.4 9.2 0.88 0.5 0.51 4.92 8.09 7 0.206 510 56 0.51 2.9 8.65 3.82 2.58 1.21 0.87 849 106.4 0.28

43.8 128.8 12.18 97.95 26.7 8.18 52 18.9 57.25 19.9 104.5 73 1.92 3.7 2.24 6.51 0.295 902.5 0.68 202 1,786

1.17 4.4 743 51.65 11.5 9.2 0.88 0.51 0.51 4.92 8.15 7 0.206 517.5 57 0.51 2.9 8.83 3.83 2.92 1.21 0.87 849 106.4 0.28

43.75 125 10.2 93.2 26.6 8.04 50.3 18.5 57.25 19.8 102.5 72.05 1.92 3.68 2.24 6.51 0.29 902.5 0.64 202 1,786

1.16 4.4 720 50.2 11.38 9 0.88 0.48 0.46 4.86 8.03 6.93 0.206 505 55 0.51 2.88 8.57 3.78 2.58 1.21 0.87 825 104.5 0.28

43.8 127.8 11.94 97.9 26.7 8.05 52 18.84 57.25 19.8 103 72.75 1.92 3.7 2.24 6.51 0.29 902.5 0.68 202 1,786

1.17 4.4 730 51.65 11.4 9.2 0.88 0.485 0.5 4.92 8.07 7 0.206 516 55.5 0.51 2.88 8.83 3.82 2.92 1.21 0.87 849 106.3 0.28

3,700 2,369,450 783,800 1,768,060 33,600 1,276,600 2,420,110 43,500 110 4,300 438,320 8,680 24,000 26,000 4,000 300 1,300,000 20 29,000 50 15

6,698,000 6,000 328,810 973,870 1,640,100 23,400 97,000 2,608,000 601,000 225,000 5,005,400 210,700 20,000 103,450 2,730,580 58,000 14,000 2,049,300 10,751,000 7,000 12,000 13,000 360,110 39,710 290,000

7,776,070 26,400 239,058,140 49,401,188 18,721,534 214,280 85,360 1,290,170 302,920 1,102,210 40,409,276 1,473,178 4,120 53,152,645 151,225,562 29,580 40,480 17,969,189 40,958,730 18,990 14,520 11,310 300,585,790 4,201,704 81,200

7,368,150.00 -32,893,990 -25,852,971.50 23,936 204,360 -22,440 710,830 8,702,311.00 -7,994,075 -33,501,373 8,700 -9,873,594 13,133,610 -1,740 -69,637,440 467,773 -

PROPERTY ARTHALAND CORP 0.56 0.57 0.57 0.57 0.57 0.57 14,000 7,980 AYALA LAND 32 32.1 32.4 32.4 31.4 32 13,854,900 440,558,960 -144,722,645 AYALA LAND LOG 4.3 4.35 4.29 4.4 4.26 4.3 234,000 1,006,530 -94,440 ARANETA PROP 1.18 1.19 1.07 1.2 1.07 1.18 206,000 238,690 AREIT RT 38 38.75 39.75 40 38 38 1,015,500 39,624,900 -28,358,620 A BROWN 0.82 0.87 0.82 0.82 0.82 0.82 18,000 14,760 CITYLAND DEVT 0.72 0.73 0.71 0.72 0.71 0.72 262,000 186,030 -7,810 CROWN EQUITIES 0.092 0.099 0.099 0.099 0.099 0.099 10,000 990 CEB LANDMASTERS 2.72 2.75 2.71 2.75 2.71 2.75 259,000 704,950 CENTURY PROP 0.4 0.41 0.4 0.4 0.4 0.4 910,000 364,000 CITICORE RT 2.53 2.54 2.57 2.57 2.52 2.53 14,004,000 35,676,000 -6,671,290 DOUBLEDRAGON 7.91 7.98 8.1 8.1 7.9 7.91 128,200 1,019,818 55,635.00 DDMP RT 1.42 1.43 1.44 1.45 1.41 1.42 3,759,000 5,348,700 1,072,980 DM WENCESLAO 6.88 6.9 6.9 6.9 6.9 6.9 13,000 89,700 EMPIRE EAST 0.219 0.229 0.22 0.22 0.22 0.22 100,000 22,000 EVER GOTESCO 0.243 0.248 0.243 0.248 0.242 0.243 7,010,000 1,715,520 FILINVEST RT 7.3 7.32 7.3 7.34 7.25 7.32 763,000 5,558,090 -243,311 FILINVEST LAND 1.06 1.07 1.06 1.07 1.06 1.06 7,108,000 7,540,060 -6,518,550 GLOBAL ESTATE 0.88 0.9 0.88 0.88 0.88 0.88 44,000 38,720 8990 HLDG 13.3 13.54 13.76 13.8 13.3 13.54 180,400 2,446,782 533,650 GOLDEN MV 634.5 675 675 675 675 675 440 297,000 PHIL INFRADEV 0.89 0.93 0.94 0.94 0.89 0.89 16,000 14,540 CITY AND LAND 0.78 0.81 0.83 0.83 0.72 0.81 576,000 448,700 21,180 MEGAWORLD 2.87 2.9 2.78 2.9 2.78 2.9 12,779,000 36,517,080 3,369,720 MRC ALLIED 0.216 0.217 0.21 0.218 0.21 0.217 1,540,000 330,470 MREIT RT 17.5 17.52 17.58 17.6 17.4 17.52 105,744,600 1,850,543,526 -1,832,269,150.00 OMICO CORP 0.35 0.36 0.35 0.35 0.35 0.35 10,000 3,500 PHIL ESTATES 0.4 0.41 0.405 0.405 0.4 0.4 2,070,000 829,350 PRIMEX CORP 2.65 2.7 2.74 2.75 2.6 2.7 1,262,000 3,382,130 -2,462,520 RL COMM RT 7.26 7.34 7.23 7.34 7.2 7.34 1,996,200 14,520,005 1,861,487 ROBINSONS LAND 19.18 19.2 19.1 19.7 18.6 19.18 3,769,300 72,037,552 -29,778,778.00 ROCKWELL 1.35 1.43 1.37 1.37 1.35 1.35 130,000 175,600 -13,500 SHANG PROP 2.49 2.59 2.48 2.48 2.48 2.48 3,000 7,440 -7,440 STA LUCIA LAND 2.78 2.92 2.78 2.98 2.78 2.94 108,000 313,720 -17,880 SM PRIME HLDG 36.05 36.75 35.25 36.75 34.05 36.75 10,031,400 359,233,820 25,335,150 SUNTRUST HOME 0.99 1.02 1.03 1.03 1.03 1.03 203,000 209,090 VISTA LAND 2.39 2.4 2.41 2.43 2.35 2.4 2,199,000 5,301,620 -720,440 SERVICES ABS CBN 12.5 12.6 12.7 12.8 12.5 12.5 114,400 1,438,534 GMA NETWORK 12.54 12.56 13.02 13.1 12.52 12.54 2,366,300 30,219,274 MLA BRDCASTING 7.53 9.59 9.7 9.7 9.7 9.7 500 4,850 GLOBE TELECOM 2,222 2,224 2,274 2,274 2,184 2,222 91,590 202,581,330 -10,161,550 PLDT 1,854 1,889 1,866 1,889 1,821 1,889 73,405 136,148,655 2,462,285 APOLLO GLOBAL 0.041 0.042 0.041 0.042 0.04 0.042 104,600,000 4,286,800 53,300 CONVERGE 28.2 28.65 27.6 29.35 27.5 28.2 7,865,100 224,364,880 33,876,175 DFNN INC 2.85 2.99 3 3.05 2.84 2.99 355,000 1,031,700 -29,900 DITO CME HLDG 4.54 4.55 4.64 4.64 4.46 4.54 6,533,000 29,602,590 7,546,860 JACKSTONES 1.56 1.6 1.53 1.6 1.52 1.6 40,000 61,340 NOW CORP 1.39 1.41 1.37 1.48 1.37 1.39 4,837,000 6,916,000 -58,260 TRANSPACIFIC BR 0.31 0.315 0.31 0.315 0.31 0.31 1,480,000 460,250 2GO GROUP 7.3 7.4 7.21 7.4 7.21 7.3 14,700 107,790 ASIAN TERMINALS 13.42 14 14 14 13.8 13.8 15,400 212,970 CHELSEA 1.47 1.5 1.47 1.53 1.46 1.5 139,000 206,820 CEBU AIR 44.9 45 43.75 44.9 43.75 44.9 117,700 5,224,775 2,151,960 INTL CONTAINER 215 216 216 216.8 202.4 215 1,353,050 288,654,914 -79,349,342 LBC EXPRESS 22.3 22.4 22.15 22.4 22.15 22.4 400 8,900 LORENZO SHIPPNG 0.85 0.9 0.85 0.85 0.85 0.85 257,000 218,450 MACROASIA 5.16 5.17 5.14 5.2 5.02 5.17 249,500 1,282,348 -7,210 METROALLIANCE A 0.93 0.99 0.92 0.99 0.92 0.99 24,000 22,250 PAL HLDG 5.99 6 6.15 6.15 5.99 5.99 95,700 575,582 HARBOR STAR 0.63 0.65 0.63 0.63 0.62 0.62 41,000 25,600 GRAND PLAZA 11.02 13.76 10.96 13.76 10.9 13.76 1,500 16,692 WATERFRONT 0.43 0.44 0.43 0.43 0.43 0.43 120,000 51,600 CENTRO ESCOLAR 6.61 6.84 6.62 6.62 6.62 6.62 1,000 6,620 -6,620 STI HLDG 0.34 0.355 0.34 0.34 0.34 0.34 430,000 146,200 BELLE CORP 1.26 1.28 1.26 1.3 1.26 1.28 651,000 820,800 -2,520 BLOOMBERRY 6.1 6.11 6.08 6.16 6.05 6.11 2,144,800 13,103,376 282,022 PACIFIC ONLINE 1.3 1.5 1.35 1.4 1.3 1.3 116,000 155,950 -132,550 LEISURE AND RES 1.24 1.28 1.26 1.29 1.24 1.24 2,236,000 2,844,110 PH RESORTS GRP 1 1.01 0.97 1 0.97 1 1,281,000 1,268,220 PREMIUM LEISURE 0.475 0.48 0.475 0.48 0.47 0.48 6,490,000 3,087,700 38,050 PHILWEB 2.6 2.61 2.31 2.61 2.31 2.6 7,462,000 18,578,340 -7,228,390 ALLDAY 0.42 0.425 0.435 0.44 0.415 0.42 10,070,000 4,247,400 92,400 BERJAYA 5.52 5.69 5.52 5.52 5.51 5.51 21,700 119,717 ALLHOME 7.72 8 8 8 7.72 7.72 2,000 15,636 3,200 METRO RETAIL 1.42 1.43 1.44 1.44 1.42 1.42 166,000 235,800 PUREGOLD 33.95 34.5 33.3 34.5 33.05 34.5 296,300 9,970,115 4,306,725.00 ROBINSONS RTL 53.15 53.25 53.25 53.3 53 53.15 58,480 3,106,833.50 277,563 PHIL SEVEN CORP 62.2 64.9 65 65 62 62.1 3,010 193,243 -3,730 SSI GROUP 1.14 1.15 1.15 1.16 1.14 1.15 1,470,000 1,681,430 1,498,470.00 WILCON DEPOT 27.25 27.6 27.55 27.75 26.9 27.25 881,400 23,954,635 -11,331,250 APC GROUP 0.22 0.234 0.22 0.22 0.218 0.22 420,000 92,100 IPM HLDG 6.8 7 7 7 7 7 2,000 14,000 MEDILINES 0.76 0.77 0.75 0.77 0.75 0.77 389,000 295,760 4,620 PRMIERE HORIZON 0.485 0.495 0.495 0.495 0.485 0.485 3,740,000 1,825,900 -78,150 SBS PHIL CORP 3.71 3.93 3.93 3.93 3.93 3.93 1,000 3,930 MINING & OIL APEX MINING 1.5 1.52 1.49 1.51 1.46 1.5 1,631,000 2,426,000 ATLAS MINING 5.95 6 5.94 6.05 5.92 6 220,200 1,312,985 BENGUET A 6.76 7.19 7.24 7.24 7.1 7.19 24,000 173,330 BENGUET B 6.81 6.88 7.03 7.03 6.85 6.88 231,700 1,612,640 COAL ASIA HLDG 0.243 0.255 0.249 0.255 0.249 0.25 190,000 47,620 CENTURY PEAK 2.6 2.69 2.58 2.69 2.58 2.69 28,000 73,340 FERRONICKEL 2.52 2.57 2.52 2.59 2.49 2.57 2,503,000 6,318,930 GEOGRACE 0.177 0.198 0.177 0.177 0.177 0.177 30,000 5,310 LEPANTO A 0.139 0.14 0.14 0.14 0.139 0.14 3,300,000 461,500 LEPANTO B 0.138 0.142 0.138 0.138 0.137 0.137 210,000 28,970 MARCVENTURES 1.49 1.51 1.53 1.53 1.49 1.5 760,000 1,138,560 NIHAO 0.9 0.97 0.9 0.97 0.9 0.97 12,000 11,500 NICKEL ASIA 7.4 7.43 7.55 7.66 7.38 7.4 6,508,400 48,417,988 ORNTL PENINSULA 0.89 0.91 0.88 0.92 0.88 0.92 70,000 62,000 PX MINING 4.79 4.8 4.9 4.9 4.8 4.8 1,650,000 7,987,270 SEMIRARA MINING 27.25 27.3 27.45 27.5 27.1 27.25 1,981,600 54,028,025 ACE ENEXOR 16.54 16.88 16.94 16.94 16.5 16.54 41,200 688,554 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 6,300,000 69,500 PHILODRILL 0.0091 0.0092 0.0091 0.0091 0.0091 0.0091 32,000,000 291,200 PXP ENERGY 4.35 4.4 4.59 4.59 4.35 4.4 278,000 1,218,690 PREFFERED HOUSE PREF B 98.5 101 98.1 98.1 98.1 98.1 20 1,962 AC PREF B1 501 518 515 515 500 500 10,100 5,052,150 ALCO PREF D 512 520 512 512 512 512 10 5,120 BRN PREF A 105 105.8 105.7 105.8 104 105 18,000 1,878,300 CEB PREF 43.6 44.9 43.6 43.6 43.6 43.6 1,900 82,840 DD PREF 99.7 99.8 99.7 99.8 99.7 99.7 1,650 164,513 EEI PREF B 108 108.6 108.6 108.6 108.6 108.6 20 2,172 GTCAP PREF A 1,010 1,020 1,010 1,010 1,010 1,010 10 10,100 JFC PREF A 980 1,000 980 980 980 980 90 88,200 MWIDE PREF 2B 95.55 103 95 95 95 95 500 47,500 MWIDE PREF 4 98 99.9 99.9 99.9 99.9 99.9 90 8,991 PNX PREF 3B 99.2 100.9 100 101 99 100.9 15,470 1,537,680 PNX PREF 4 983 987 982 987 982 987 70 68,790 PCOR PREF 3A 1,056 1,070 1,056 1,056 1,056 1,056 250 264,000 PCOR PREF 3B 1,086 1,116 1,116 1,116 1,116 1,116 175 195,300 SMC PREF 2F 76.3 77.85 76.3 77.9 76.25 77.9 43,700 3,382,320.50 SMC PREF 2I 78.1 79.5 78.05 78.1 78.05 78.1 5,200 406,119.50 SMC PREF 2J 74.55 76.2 76.2 76.2 76.2 76.2 20 1,524 SMC PREF 2K 75.2 75.8 75.2 75.8 75.2 75.8 530 39,874 TECH PREF B2D 54.5 55 55 55 55 55 500 27,500 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.26 12.6 12.26 12.6 12.26 12.6 5,000 62,320 GMA HLDG PDR 12.04 12.48 12.62 12.62 12.02 12.04 149,000 1,848,056 WARRANTS TECH WARRANT 0.55 0.57 0.59 0.59 0.57 0.58 31,000 17,780

415,810 -129,030 -1,522,340 26,900 1,034,370 8,815,377 597,160.00 -15,887,010 -121,480 -18,200 9,000 -21,800 88,240.00

SMALL & MEDIUM ENTERPRISES

ALTUS PROP CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

16.16 0.99 1.08 0.85 1.58 0.305

16.66 1 1.13 0.88 1.59 0.325

EXHANGE TRADE FUNDS FIRST METRO ETF

104

105

16.66 1.01 1.1 0.85 1.6 0.325

16.66 1.02 1.13 0.88 1.6 0.325

16.16 1 1.08 0.85 1.57 0.305

16.16 1 1.13 0.86 1.59 0.305

3,100 15,302,000 290,000 297,000 1,127,000 910,000

51,596 15,426,590 318,170 254,380 1,786,540 283,900

1,000 17,200 167,480 -

103.1 104 102.4 104 36,270 3,732,984 1,256,161

www.businessmirror.com.ph

Banking&Finance BusinessMirror

BOC exceeds April revenue take by 19.6% to P65.7 billion

HE Bureau of Customs (BOC) collected P65.7 billion in revenues this year, exceeding its goal for the month. The second-largest revenue-generating government agency said they have surpassed their P54.9 billion April collection target by 19.6 percent or P10.769 billion. Its revenue take for April is also higher by 26.9 percent from the P51.78 billion it earned in the same month last year. For the first four months of the year, the BOC has so far collected P254.2 billion, equivalent to 37.4 percent of its P679.23 billion fullyear collection target. “The collection performance is attributed to the improved valuation, intensified enforcement against illegal importations, and the improved

compliance by traders to customs laws,” the BOC said. Based on the preliminary report from the BOC-Financial Service, 14 of 17 collection districts hit the target. These are the following ports: San Fernando; Manila; MICP; Batangas; Legaspi; Iloilo; Cebu; Cagayan de Oro; Zamboanga; Davao; Subic; Clark; Aparri; and, Limay. In March, the bureau recorded its all-time high monthly revenue collection at P70 billion. The BOC earlier expressed confidence that it would be able to surpass its collection goal this year, which is up by over 10 percent from its last year’s target of P616.75 billion. Last year, the BOC collected P645.77 billion, breaching its goal by 4.7 percent. Bernadette D. Nicolas

SSS accepts contribution payments via ShopeePay

OCIAL Security System (SSS) President and CEO Michael G. Regino recently announced that self-employed, voluntary, nonworking spouse and land-based Overseas Filipino Worker (OFW) members may now pay their contributions using ShopeePay. ShopeePay is a remittance subagent of CIS Bayad Center Inc., an SSS-accredited collecting partner. It is a digital wallet, accessible through the Shopee App, wherein users can make safe and cashless payments for online transactions such as bill payments and other transactions. “Our members and employers need secure and convenient methods for their SSS payments, especially during this time of the

pandemic,” Regino was quoted in a statement as saying. “We thank all our accredited collecting partners for making this possible by helping us provide additional payment options for our members and employers.” The SSS has various accredited bank and non-bank collecting partners that offer over-the-counter and online payment options. These are in addition to the Automated Tellering System facilities located in SSS branches. The list of these payment channels can be accessed at https://bit.ly/ SSSPaymentChannels. Other information about SSS payments, such as the mandatory use of Payment Reference Numbers, are available at https://crms.sss.gov.ph.

ADB OKs $18B lending cap for ‘green’ recovery By Cai U. Ordinario

@caiordinario

HE Asian Development Bank (ADB) has expanded its policy-based lending to help more Developing Member Countries (DMCs) better respond to crises in the next two years. ADB has approved a ceiling of up to $18 billion to help DMCs like the Philippines address gaps in financing requirements in their pursuit of “a green, resilient, and inclusive recovery.” ADB’s Strategy, Policy, and Partnerships Department Director General Tomoyuki Kimura said the additional financing will help the region respond to risks such as new virus variants, rising inflation and interest rates, and the uncertainties brought by the Russian invasion of Ukraine. “This package of additional assistance will ensure ADB remains responsive to our clients’ needs while helping to address long-term structural challenges facing the region, including climate change, rising inequality, and building resilience to future disasters,” Kimura said in a statement. ADB also said it is introducing measures to enhance PBL quality

and to strengthen oversight by the Board of Directors. In order to better support DMCs facing economic shocks, ADB said it enhanced its Countercyclical Support Facility, which provides fast-disbursing emergency budget support during crises. Revisions include expanding coverage to ADB’s most vulnerable low and lower-middle DMCs, increasing individual countr y resource ceilings, enhancing the focus on targeting poor and vulnerable groups, and making lending terms less onerous to improve access. “Together, this package of additional support and enhancements to our existing instruments will bolster ADB’s ability to support DMCs in addressing the challenges they are confronting and to achieve a green, resilient, and inclusive recovery,” Kimura said. ADB’s Contingent Disaster Financing has been strengthened to provide coverage for a broader range of future emergencies, including health crises, and by introducing a multiyear funding replenishment option for DMCs that are exposed to frequent disasters and emergencies.

Editor: Dennis D. Estopace • Thursday, May 5, 2022

BTr awards reissued 3-yr bonds despite high rates

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury looked past investors’ demand for higher rates as it fully awarded P35 billion in reissued 3-year Treasury bonds (T-bonds).

With investors anticipating looming rate hikes from Philippine and US monetary authorities, the debt paper fetched an average rate of 4.598 percent, higher by 21.7 basis points than the secondary market benchmark rate for the security itself pegged at 4.381 percent. Likewise, this also surpassed by 45.9 basis points the secondary mar-

ket benchmark rate for the 3-year tenor of 4.139 percent based on the Bloomberg Valuation Service. National Treasurer Rosalia V. De Leon said the auction committee decided to fully award the T-bonds “even with increase in rates.” According to De Leon, “markets [are] bracing for hawkish pivot from Fed [US Federal Reserve] with 50bps

[basis points] rate hike in tandem with balance sheet reduction to battle inflation.” The National Treasurer said the inflation forecast for April is 4.6 percent “and the BSP [Bangko Sentral ng Pilipinas] has issued warning that it may start hiking this June.” De Leon compared the current situation with that in 2018 when the 3-year tenor was capped at a rate of 4.79 percent while inflation hovered at 4.6 percent. Inflation for April is expected to settle between 4.2 percent and 5 percent on the back of higher electricity rates, increased domestic petroleum prices and higher meat and fish prices. This is higher than the government’s inflation target band of 2 percent to 4 percent. On Wednesday’s auction, total bids for the debt paper with a remain-

ing term of 2 years and 11 months attracted a total of P41.5 billion, making the auction oversubscribed. For this month, the Treasury is targeting to raise P200 billion from the domestic debt market. Since the start of the month, the Treasury has so far sold P47.6 billion in government securities. Last March, the Treasury earned P164.4 billion from its auction of government securities out of its P200 billion programmed offering. This year, the government is set to borrow a total of P2.2 trillion, of which around 75 percent is expected to come from domestic sources. As of end-February this year, the national government’s outstanding debt rose to another record-high level of P12.09 trillion due to currency fluctuations and net financing from both domestic and foreign sources.

LandBank’s agri support reaps ‘Gawad Lingap’ award

TATE-run Land Bank of the Philippines (LandBank) announced it was honored at the Second Gawad sa Paglingap sa Magsasaka at Mangingisda (Gawad Lingap) Awards of the Department of Agriculture—Agricultural Credit Policy Council (DA-ACPC), for the bank’s outstanding support to the agriculture sector and micro, small and medium enterprises (MSMEs) amid the Covid-19 pandemic. LandBank said in a statement it received a special award as one of the partner lending conduits (PLCs) of DA-ACPC for agri-fishery credit programs for small farmers and fishers and other agri-players. “While we take on an expanded role of serving various development sectors, providing intensified support to agriculture is a continuing commitment for Landbank,” LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying. “Together with the DA and ACPC, we remain focused on extending financial access to farmers and fishers nationwide under our whole-of-government approach.” LandBank said its Lending Program Management Group Head, Vice President Esperanza N. Martinez received the award on April 28, 2022, during the award ceremonies. In partnership with the agriculture department, Landbank offers various lending programs directed at supporting the recovery and growth of small farmers, fishers and MSMEs. These loan programs include the following: Expanded Credit Assistance under the Rice Competitiveness Enhancement Fund; Agricultural Competitiveness Enhancement Fund; LandBank-

Land Bank of the Philippines Inc. Lending Program Management Group Head, Vice President Esperanza N. Martinez (center) receives the Gawad Lingap 2021 Special Award for LandBank from Agricultural Credit Policy Council Executive Director Jocelyn Alma R. Badiola (second from left), Agriculture Undersecretary Evelyn G. Laviña (third from left) and BSP Monetary Board Member Victor Bruce J. Tolentino (rightmost), together with LandBank and ACPC officials. Photo courtesy OF Land Bank of the Philippines Inc.

SRA Socialized Credit Program under Sugarcane Industry Development Act; and, the “Survival and Recovery Assistance” program. LandBank said it also implements a Covid-19 loan program together with the DA-ACPC to assist small farmers and fishers affected by the economic impact of the global health crisis. Under the programs being administered by

LandBank for DA-ACPC, cumulative loan releases have reached a total of P12.51 billion benefitting small farmers and fishers and micro- and small enterprises nationwide, as of 31 March 2022. LandBank said it “remains fully committed to serving the requirements of farmers and fishers, towards building a stronger and more resilient agriculture sector.”

Bill seeking to apply VAT on digital deals backed By Andrea San Juan

HE Department of Trade and Industry (DTI) threw its support behind a house bill that seeks to impose value-added tax (VAT) on digital transactions. Trade Secretary Ramon M. Lopez said this is feasible if the transactions originated from the Philippines. “In principle, basta ang transaksyon ay nanggaling dito, kami naman po ay sasang-ayon diyan; kasi basta ang negosyo dito Nagawa, dito nangyari yung bentahan, dapat yung tax ay dito rin po mapunta,” Lopez said during a television interview. [In principle, as long as the transaction

comes from here, we will agree to that; because as long as the business here is done, the sale happened here, the tax should also go here.] “Kung ano yung inaapply natin sa regular na negosyo yun din ay pwedeng gawin at dapat maapply sa online so yun yung basic principle na sinusunod natin,” he added. [What we apply to regular business can also be done and must be applied online so that is the basic principle that we follow.] Lopez expressed hopes the administration replacing President Duterte would consider the measure. To generate revenues from new sources to fund the country’s pan-

demic recovery efforts, the House of Representatives has endorsed for Senate approval a bill imposing value-added tax (VAT) on digital transactions in the Philippines. Voting 167 affirmative, 6 negative and 1 abstention, lawmakers approved on third and final reading House Bill 7425 to level the playing field between traditional and digital businesses by clarifying the imposition of VAT on digital service providers. However, during Monday’s hearing of the Senate Committee on Ways and Means, lawyer Bridget Rose Messina-Romero, deputy director at the Payment System Oversight

Department of the Bangko Sentral ng Pilipinas, expressed concern that the proposed imposition of VAT on digital transactions may reduce the income of smaller businesses. “The additional tax burden at this time may pose some challenges and barriers to the swift recovery of these smaller enterprises and including also the gig workers who may rely on these digital channels in order to continue their means of livelihood so because we know that the additional tax burden may result in a lower income for them,” Messina-Romero told senators tackling a measure seeking to impose VAT on digital transactions.

BSP sees key role of Shari’ah Supervisory Board in Islamic financial sector By Bianca Cuaresma @BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) announced it signed a memorandum of agreement (MOA) last Wednesday with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the Department of Finance (DOF) and the National Commission on Muslim Filipinos (NCMF) to formally establish the Shari’ah Supervisory

Board in BARMM. In a virtual event on May 4, BSP governor Benjamin E. Diokno signed the MOA along with DOF Undersecretary Bayani H. Agabin, NCMF OIC Commissioner Yusoph J. Mando and BARMM Minister Mohammad S. Yacob in recognition of Islamic banking’s role in the development of the region. The SSB is aimed at providing Shari’ah compliance oversight for the Islamic banking and finance industry in the region.

Islamic finance is banking and economics that are compliant with the Islamic law of the so-called Shari’ah. One of the most salient features of the Shari’ah-compliant financial assets are the non-issuance of interest rates to borrowers, thus needing a different framework and governance guidelines than traditional banking and finance. “Today, the Philippines will be among a handful of jurisdictions that have institutionalized a Shari’ah gov-

ernance oversight body for Islamic banking and finance through the creation of a Shari’ah Supervisory Board,” Diokno said. According to the central bank governor, the SSB will serve as a strong arm in reinforcing BSP’s commitment on financial stability “grounded on sound corporate governance in the delivery of financial products and services in the country.” “By issuing Shari’ah opinions on Islamic banking products and ser-

vices, the SSB will play a key role in driving the business model of Islamic financial institutions and the sustainability of the Islamic banking products or services that will be made available to all Filipinos,” he added. Diokno also said the creation of the SSB is expected to boost trading activities, participatory financing schemes and entrepreneurial undertakings with financial institutions that are committed to provide endto-end Shari’ah compliant products

and services. Just last month, the BSP governor said the BSP is currently having policy studies on Islamic banking in the pipeline to ramp up efforts to establish an inclusive and sustainable Islamic finance ecosystem. These policy studies are said to include research on profit sharing investment accounts, minimum capital requirements of Islamic banking units (IBUs) and the capital adequacy ratio of Islamic banks and IBUs.

Envoys&Expats BusinessMirror

Thursday, May 5, 2022

PHL, China reach partnership milestones, urged to further ties

By Roderick L. Abad

CCOMPLISHMENTS on various fronts of cooperation between the Philippines and China were recently cited by a top diplomat and a business group leader. Ambassador Huang Xilian as well as Federation of Filipino-Chinese Chambers of Commerce and Industry Inc.’s (FFCCCII) president Dr. Henry Lim Bon Liong tackled milestones of the strong Filipino-Chinese ties at the ribboncutting ceremony of the PhilippinesChina Cooperation Achievements photo exhibit in Binondo, Manila on April 20. Linkages between both countries that were tackled cover diplomatic, trade, infrastructure, agriculture, pandemic response, and other forms of collaboration. “We have strengthened and delivered on the synergy between the Belt and Road Initiative and the Build, Build, Build Program over the past six years,” maintained Huang. “Nearly 40 government-to-government cooperation projects have been on the agenda. Sixteen of those have been completed, while the rest are under implementation, or to be mapped out.” The diplomat noted the landmark China-gifted Binondo-Intramuros Bridge, which opened on April 5, has already become a tourist attraction and benefitting tens of thousands of people every day.

He also pointed out the growing trade volume between his country, which has doubled since 2016: “Furthermore, total accumulated Chinese investments in the last six years have quadrupled, in comparison to the 2010-2015 figure. This significant growth is contributing to the economic growth and national development of the Philippines, bringing profits to our peoples.” According to him, both countries imbibed the bayanihan spirit during the pandemic by combatting Covid-19 “hand-in-hand, and forging a closer partnership in the new era.” Consistently handling differences properly, the two Asian neighbors in the past six years have enforced the consensus reached by their respective leaders to position the South China Sea/ West Philippine Sea (SCS/WPS) issue in a proper place in their bilateral relations, relayed Huang. “We have been committed to managing our disputes through bilateral communication and [consultations], increasing mutual trust, and advancing cooperation in a constructive manner,” he said. “We have handled a series of

PUBLIC Works and Highways Secretary Roger Mercado (from left), Senator Imee Marcos, Ambassador Huang Xilian, Senator Cynthia Villar, FFCCCII President Dr. Henry Lim Bon Liong, with Climate Change Commission Vice Chairperson and Secretary Robert Borje

maritime-related incidents prudently, and conducted consultations on the joint development of oil and gas resources in the SCS/WPS.” “All of these have also contributed to a peaceful and stable regional environment. Dialogues and consultations are the only way to deal with our differences,” he added. “Widening differences, or bringing in a trouble-maker, is definitely not the right way.” Pushing for better amity and people-to-people understanding between the two nations, Huang cited that the Chinese Embassy has initiated the “Manila Forum for Philippines-China Relations,” the “Award for Promoting Philippines-China Understanding,” the “Sino-Philippine Cultural Exchange Program,” livelihood projects, and aid for typhoon victims, among others. Banking on Fil-Chi relations DR. LIM, for his part, urged the Philippine government to leverage on its “good diplomatic ties with Beijing,” so it could be at par with its neighboring countries like Vietnam, Thailand, Malaysia, Indonesia or South Korea in tapping the 1.4 billion people of China—the biggest and increasingly affluent consumer mar-

ket in the world—by exporting more Filipino-made goods and agricultural products. For the FFCCCII, the country must also attract more foreign-direct investments, bring in more tourists from China, and forge technological cooperation. For one, his hybrid rice technology helping rural Filipino rice farmers is an example of successful “win-win” Philippine-Chinese technological collaboration. The FFCCCII president likewise supported the call of Trade Secretary Ramon Lopez for the Senate to soon enact the Regional Comprehensive Economic Partnership (RCEP)—the world’s largest free-trade agreement, which includes all 10 member-states of the Asean, China, South Korea, Japan, New Zealand and Australia. He agreed with Huang that RCEP will benefit local businesses, especially small and medium enterprises that can export more products and services to China. Dr. Lim said ratification of partnership will not only benefit local businesses, but can make the Philippines more attractive for foreign investors who want to conduct business and establish factories nationwide.

SFA Locsin leads UN exhibit launch commemorating Manila Declaration U

NI TED NAT IONS, NEW YORK—Secretary of Foreign Affairs (SFA) Teodoro L. Locsin Jr. led the launch of an exhibit that highlighted the 40th anniversary of the adoption of the Manila Declaration on the Peaceful Settlement of International Disputes. Entitled “When the World declared Peace,” the exhibit at the United Nations Headquarters on April 21 featured a 20-foot centerpiece designed by the Department of Foreign Affairs’ Office of Public and Cultural Diplomacy. It featured ideas underpinning the Manila Declaration, and was on display until

last month’s end. “Our then-secretary of Foreign Affairs Carlos P. Romulo said: ‘[The Manila] Declaration marks an important step forward for the UN and the international community generally in our efforts to enhance the capacity of the [global body] for peace-making,” emphasized Locsin. “His words have not lost their relevance.” The SFA furthered that the exhibit “is [our] contribution to the dissemination of the declaration and the commitments needed for its full observance.” Assistant Secretary-General for Legal Affairs D. Stephen Mathias noted that the Manila Declaration addresses

both the normative and procedural aspects of the UN Charter, and said that “this exhibition is an important reminder of what we have achieved, and of our need to recommit ourselves to it.” The Manila Declaration on the Peaceful Settlement of International Disputes was adopted by the UN General Assembly on November 15, 1982. It was based on a text prepared by the Special Committee on the Charter of the UN and on the Strengthening of the Role of the Organization in its 1980 session held in the Philippine capital. The declaration is the first important outcome of the work of the Special Committee,

and one of its significant achievements. The exhibit was one of the activities of the Philippine Permanent Mission to the UN, in relation to the General Assembly resolution on the “40th anniversary of the Manila Declaration on the Peaceful Settlement of International Disputes.” Ambassador Enrique A. Manalo noted that “the adoption by consensus of this resolution which calls on all states to observe and promote in good faith the Manila Declaration in the peaceful settlement of their international disputes—now almost 40 years later and under clement circumstances—is [proof] to its enduring relevance.”

EXPAT EXECUTIVE

People-centricity: Key to automotive exec’s three-decade successful career Making an impact on people and teams he works with is his passion

ELOCATING to Manila was not easy for Ford Phils. Managing Director Michael “Mike” Breen. He was appointed BREEN country lead in June last year, and was only able to move to the Philippines a few months later when international travel restrictions were lifted. Now settled in and spending time meeting his team members, dealer employees and business partners, Breen shares below his experience in various global markets, where he has consistently espoused the importance of driving a people-centric culture in the organization in his three-decade long career at Ford Motor Company. ENVOYS&EXPATS: What do you know about the attachment of Filipinos toward cars? BREEN: Filipinos love their vehicles. They take great pride in caring for and maintaining them, and are passionate about their choices. I love the level of care and attention Filipinos pay to their vehicles, with emphasis on getting the most out of their investment. With your exposure to various markets all over the world, what do you think are the main similarities and differences of Filipino car customers with those from other Asean markets, such as Cambodia or Malaysia, for instance?

For similarities, I think that all customers want the best quality product and overall ownership experience. They love new vehicles and enhanced features that come with them. As far as a major difference, the Filipino car customer is more tech-savvy and appreciates the innovations that the vehicles are equipped with. Serving as managing director of Ford Phils. for the first full year this 2022, what for you should be Ford Phils.’ top business priorities? On top of our list is the successful launch of our new vehicles: the next-generation Ford Ranger and Ford Everest. Filipinos love their SUVs and pick-up trucks, and we’re very excited about the introduction of the next-generation of the said models. We also aim to be “All Digital All The Time” to increase efficiency and agility in the way we do things in the organization. This will allow us to deliver a better customer experience by leveraging on digital technologies, processes, and systems. Customer experience will also be a very important focus area for us this year. Part of this initiative is to strengthen our partnership with our dealers to deliver better customer convenience and satisfaction. Lastly, I would like to prioritize people engagement and empowerment across the Ford Phils. and dealer organization. The commitment and dedication of our employees and dealer teams are integral in offering our world-class vehicles and delivering an enhanced ownership experience to our customers.

Under your leadership, how is Ford Phils. enhancing its after-sales service and the overall ownership experience? We will ensure all Ford dealerships have access to parts, training, and technical support to deliver positive customer experience every time. We will also support their implementation of activities designed to deliver customer convenience and satisfaction. We are also expanding our customer service channels, like our “Click to Chat” feature, to give our customers real-time chat support for their sales and service concerns. We also continue to strengthen our customer service operations on social media with more resources and training for our teams. How will the next 5 to 10 years look like for Mike Breen? I certainly hope it will be more like what we have experienced for the last few years: lots of travel adventures with my family. I also look forward to exciting career opportunities and work experiences within Ford Motor Company, coming from what I’m certain will be great learning from my stint as country lead for Ford Phils. If you were a Ford vehicle, what would it be and why? I would be an Explorer. It embodies the adventurous spirit, always willing to say “Yes,” embracing whatever that next adventure may be. As an expatriate, I have explored many countries over the years, and I remain excited for my next pitstop.

www.businessmirror.com.ph

Reflections on press freedom’s importance Signed by the ambassadors to the Philippines of Canada, Czech Republic, Denmark, Germany, Norway, Spain, Sweden, Switzerland, United Kingdom, Delegation of the European Union, and the charge d’affaires of the embassy of the Netherlands.

AY 3 marked World Press Freedom Day—a timely opportunity for reflection on the crucial importance of media freedoms, and the vital role of journalists in our democracies. This year Uruguay will host the World Press Freedom Conference under the theme: “Journalism Under Digital Siege,” to underscore impacts of surveillance, threats and safety of journalists on digital platforms and spaces. Media freedom is a cornerstone of all democratic societies, and is essential to the protection of human rights and fundamental freedoms. A free media is essential to hold elected leaders to account. The decision by the Nobel Peace Prize Committee to award two brave journalists from the Philippines and from Russia also underlines the relevance of an independent media and press freedom for peace and stability. Yet, around the world, the ability of citizens to speak truth to power is under attack. The readiness of malign actors, including some states, to suppress media freedom and weaponize misinformation and disinformation, as well as use digital tools to influence, harass and suppress citizens, should be a source of concern for all. Russian efforts to spread falsehoods, intimidate and suppress free media, restrict their own citizens’ access to information, and subvert Ukrainian sovereignty stand out in this regard. A brief survey of the global landscape illustrates the urgency for action. The Committee to Protect Journalists recorded at least 27 media professionals killed over their work in 2021 alone, including two in the Philippines. Authoritarian regimes have redoubled efforts to control narratives, as well as circumvent norms and institutions meant to uphold fundamental liberties. Some have seized on crises like the pandemic to promote hatred and division, undermining trust in public institutions including the media. The escalation of gender-based violence and harassment of women journalists are of particular concern. Much of these occur in the digital domain, where malignant actors have leveraged social media tools to flood feeds and inboxes with misinformation and disinformation, undermine public confidence in democratic institutions, and subvert democratic processes. Rights to freedom of opinion and expression, too, are under pressure. In many countries, government efforts to unduly restrict access to and censor information deny citizens the ability to inform themselves, and fully join in democratic decision-making.

The Philippines is no stranger to the misinformation and disinformation phenomena. As early as 2010 academics and experts have been tracking its explosive growth in the country. That World Press Freedom Day should fall six days before millions of Filipinos will go to the polls is auspicious, and provides opportunity for reflection. In a country where most citizens access news via digital platforms, the impact of misinformation and disinformation is amplified. In addition, reduced choice in sources of information, reliance on social media platforms as a primary vehicle for sharing of information, deliberate attacks on the credibility of media institutions, intimidation and censorship of independent media voices, and attacks on the credibility of essential government and democratic institution have been observed and are being criticized. The 2022 elections are unprecedented as they take place during the Covid-19 pandemic—a time where there is an even greater need to protect and promote the crucial role of independent media. In these exceptional times their work serves to keep Filipinos worldwide informed, to amplify factual information and to counter false or misleading ones. Despite these challenges, growing civic awareness and the vibrant and dynamic civil society found across the Philippines offer hope. The emergence of independent fact-checking organizations, of civic education groups, the tireless and courageous work of human rights defenders, and the devoted efforts of free media and investigative journalists have done much to help reinforce and protect democracy in the Philippines. The global community stands with Filipinos in this effort. Through forums like the Media Freedom Coalition, Freedom Online Coalition, the G7, and the International Institute for Democracy and Electoral Assistance, efforts to support media freedom, reinforce democracy, and combat misinformation disinformation are being pursued, in close ties with government, media networks, advocacy groups, nongovernment organizations, academia, and the private sector. These help contribute to improve fact-checking, build civic literacy, build capacity of media and democratic institutions, combat corruption, enhance transparency, and ensure accountability. The struggle to protect democracy and fundamental rights and freedoms requires constant vigilance and perseverance. The cost of complacency is the subversion of a democratic way of life. As the Philippines transitions into a new administration, we hope to see these challenges addressed and for a renewed pact to defending and protecting press freedom in the country in the coming years. On this World Press Freedom Day we reconfirm our commitment to help protect a vibrant and independent media. We look forward to peaceful, truthful, and healthy conduct of the elections. We extend our fondest wishes to the Filipino people as they participate in this important democratic exercise.

Polish-Swedish initiative for Ukraine: PMs hold donors’ confab in Warsaw

N international donors’ conference to provide humanitarian support for Ukraine being spearheaded by prime ministers Mateusz Morawiecki of Poland and Magdalena Andersson of Sweden, in partnership with President Charles Michel of the European Council and President Ursula von der Leyen of the European Commission, is set in Warsaw today, May 5. The meeting will be convened at the heads of state and government levels, with the participation of global business and representatives of financial institutions. It will initiate a series of aid events for war-ravaged Ukraine in the upcoming months. According to a statement from the Polish Embassy in Manila, the conference aims to raise funds for Ukraine’s growing humanitarian needs. Poland

and Sweden, it said, want to encourage their partners to jointly respond to the difficult humanitarian situation in the besieged country. As a result of Russian aggression, there are civilian casualties, organized forced deportations, and the financial situation of millions of Ukrainian citizens is constantly deteriorating. The statement declared that “real solidarity is needed to effectively support Ukrainian society.” The United Nations recently announced that 13 million people living in Ukrainian territory are in need of vital humanitarian aid, including shelter, food and medical supplies. For the crisis-stricken nation, it is essential to mobilize immediate international aid, which currently covers less than 15 percent of that which is needed.

Parentlife BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Thursday, May 5, 2022

DISRUPTIVE KINDERGARTNERS ARE LIKELY TO BE BULLIED LATER IN ELEMENTARY SCHOOL

THE book Meet the World by Angely Dub

By Paul L. Morgan Penn State KINDERGARTNERS who act out, disrupt classrooms, get angry and argue with their teachers are especially likely to be bullied once they reach third, fourth and fifth grade, our research group has found. We continue to investigate bullying in US elementary schools, but our initial findings indicate that the odds that disruptive kindergartners will be shoved, pushed or hit, teased or called names, left out, and have lies told about them are roughly twice as high as for kindergartners who do not act out in classrooms. We observed this in analyses accounting for many other risk factors. Our findings are consistent with, but also extend, prior research documenting that children who are from poor families or who are struggling academically are more likely to be bullied than their peers who are from wealthier families or who are more academically skilled. As with older children, we find that young boys are more likely to be shoved, pushed or hit, while young girls are more likely to be teased or called names, left out, and told lies about. Children with disabilities, particularly boys, are more likely to be frequently bullied. Black boys more frequently experienced other children telling lies about them than white boys, consistent with prior work finding that Black children are at greater risk of being bullied in adolescence. We believe our study represents the first analysis of a nationally representative sample that identifies which kindergartners are most likely to be bullied later in US elementary schools. We hope the information helps parents and school staff identify and support young children who are especially likely to be bullied. The harMs of BuLLying SCHOOLCHILDREN who are frequently bullied are likely to later be depressed, anxious and suicidal as well as to be unemployed, impoverished and abusing substances. These risks are as large as those associated with being placed in foster care or experiencing maltreatment. Early identification can help support those children who are being bullied and so limit the potential damage. Screening and prevention efforts are more effective when delivered while children are still young. Mental health supports may be needed for those being frequently bullied. And looking at specific types of bullying may help schools and parents more directly serve the different psychological needs of children experiencing physical or nonphysical bullying. The results suggest that the more schools can do to help kindergartners learn to manage their disruptive behaviors, the less likely these children are to be bullied later on in elementary school. THE CONVERSATION

CHEFS Lau and Jackie Laudico

UNIQUE PINOY FLAVORS FOR PIZZA-LOVING FAMILIES

IF you are looking for interesting pizza flavors, check out the web site of Chef Laudico OK Café. The menu will pique your curiosity and tickle your tastebuds. You will find Palabok (palabok sauce, squid, shrimps, tinapa flakes and bacon bagnet), Adobo Mushroom Chorizo (Spanish chorizo and adobo garlic mushrooms), Sisig (classic pork sisig topped with bacon bagnet and garlic aioli), and Spicy Tuyo (dried labahita flakes with fresh and oven-dried tomatoes, olives, labuyo flakes and salted egg sauce). Chef Laudico OK Café is headed by celebrity chefs Lau and Jackie Laudico. The couple has made a name for modern Filipino creations and they recently extended their innovative ideas to pizza. Turns out that making pizza is close to chef Lau’s heart because many years ago, one of his first restaurant jobs was as a pizzaiolo or pizza maker. Launched only last year under the label Pizzayolo, the pizza selection also includes classic flavors with a twist, such as Hawaiian Hamonado (chicken hamonado with pineapples and ham), Margarita Pizzayolo (Chef Lau’s version of the famous Margherita with fresh and oven-dried tomatoes, Burrata cheese, malunggay pesto, and salted egg sauce), Five Cheese Truffle Honey (burrata, mozzarella, keso de bola, blue and cream cheese on white sauce drizzled with truffle honey) and what sounds like something perfect for breakfast—Bacon and Eggs (carbonara-style pizza in white sauce topped with crisp bacon, creamy eggs, roasted garlic and keso de bola). Not only are the toppings special, so is the crust. Pizzayolo uses sourdough which is more tedious to prepare but adds another layer of flavor and is also generally healthier. You can have your pizza delivered hot and ready to eat or frozen which you can consume anytime the craving strikes—just pop in a hot oven and bake for 8 to 12 minutes. Prices start at P390 for the Basic Cheese (red or white pizza sauce with mozzarella) and can go up to P540. There’s only one size available, 12 inches. The complete lineup of flavors can be viewed at www. cheflaudicookcafe.com alongside other Pinoy meal staples.

What happens when we ‘meet the world’

T is a reality for many of us that after we enter the real world of real-life responsibilities from our career and the various relationships within and outside of our families, we tend to go through days like clockwork. While it brings some ease in performing our daily functions, it is always good to jolt ourselves back to our youthful laughs. As the pandemic played on, I had a chance to go through this journey when I went through my journals from elementary and secondary school. There were various entries which surprised me at how bold and natural I was in expressing myself. The pandemic also allowed me to explore unfamiliar circumstances when I spent a lot of time with the Philippine National Fencing Team, who were in their 20s, as I accompanied my daughter for training in Ormoc. I learned and respected what it meant to be an athlete and the hard choices and challenges they face in life. By occasionally joining them in the oval for their jogs, I finally learned to love working out more. More than that, I never knew I could establish such deep friendships and share the most genuine laughter with people far younger than I am. I hope that each one of us gets that chance of exploration whether we are in our 30s, 40s, 50s or even older.

That’s why I am so glad that Angely Dub launched her self-published book, titled Meet the World. The children’s story was created to inspire people of all ages to be curious and courageous in seeking out new things. It shares how the protagonist’s curiosity allows her to embrace unfamiliar circumstances, giving her a greater opportunity to discover the world beyond her own lenses. The 31-year-old entrepreneur Angely Dub, who is the CEO and owner of Access Travel, Happi Lab, Bulilit Kitchen, 7-Continents Store, and Cheri Collective, started Meet the World during the pandemic when she got to spend more time with her four-year-old cousin. Their bonding moments together sparked the inspiration to write a book that shares the importance of staying a kid-at-heart no matter what your age. In the book’s description on the 7continents.com online store: “After traveling the world for 12 years straight, Angely Dub wanted to share a piece of her journey in her 20s to inspire everyone that the world will open up again and we will be able to see the beauty of the world. The thing about life is we never know who will inspire us to do the next big thing, and in the end we strongly believe that we influence everyone we meet in this lifetime.” “I want to help and inspire other people through my journey. So many people ask me why I chose to write a children’s book, and I always tell them that a person will always be a kid at heart. I didn’t really want to make a serious book about my journey and the lessons I learned from traveling the seven continents. I think everybody has done that already. I took a different route and aspired to bring everyone back to being a kid,” said Angely. Among her circle of empowering women, several have already given their own reviews and messages after reading the book. Certified Courageous Living life and career coach,

writer, and speaker Aurora Suarez applauded how Angely was able to create something meaningful during the pandemic: “It’s been such a gift to witness what she’s done over the pandemic. I know it really changed and overturned her life, but she has overcome as we all have. I’m just so proud to have been a witness to Angely’s continuing journey.” Digital creator, confidence coach and an author of her own book, Myrza Sison also shared how she has been inspired by Angely: “Every time you overthink life, you look at all the impossibilities of it. If you’ll think about all the limitations, you’re not going to move. Angely showed us an example of how she just goes ahead and even when she makes a mistake, she just learns from it. Whenever I see her, I get reminded that it’s a big world full of possibilities and if we don’t follow our dreams and just act upon them, we are denying ourselves of the kind of wonderful life we can have.” Miss Universe Philippines 2021 contestant and the Morena label founder Ayn Bernos, who was one of the first people to get a copy of the book, also shared how she was moved by the story of the protagonist and the author herself: “You’re not just one thing. You can be anything you want to be and that’s something that I constantly learn from Angely. Life is always in progress. We are always a work in progress, and the things that seem to hold us back make the best of stories.” All proceeds of Meet the World sales will go to Child Hope, a non-profit organization working toward promoting children’s rights that Angely Dub has been supporting since it was established. Copies of Meet the World comes in White and Kraft. It is available online at the 7-Continent store web site, and from Lazada and Shopee, plus all Wanderskye branches for only P699 (softbound) and P1,099 (hardbound). n

AYALA Corp. president Fernando Zobel de Ayala, Sofia Zobel-Elizalde, PAWSsion project founder Malou Perez, Kit Zobel, Natasha Zobel, and Patxi Elizalde.

GROUNDBREAKING ceremony of PAWSsion Project’s soon-to-rise shelter at Bacolod City

For a paws-sionate cause CONTINUING to prove that it is a haven for every one of the four-legged variety, Ayala Malls strengthens their pet advocacies by hosting and supporting various initiatives, including pet care and adoption programs. PAWSsion Project Foundation Inc., a nonprofit organization dedicated to the rescue, rehabilitation, and rehoming of abused and neglected dogs, is one of Ayala Malls’ valued partners in realizing this mission. Recently, Ayala Corp. president Fernando Zobel de Ayala and sisters Sofia Zobel-Elizalde and Monica Zobel de Ayala contributed cash donations that significantly supported the building of PAWSsion Project’s animal shelter within a newlyacquired 6,000 sqm land in Bacolod City.

Furthering the collaboration, Ayala Malls Capitol Central in Bacolod hosted PAWSsion Project’s “Paws for a Cause” which mobilized a pet supply donation drive for stray dogs. Ayala Malls Vertis North also kept the passion going as the Quezon City location facilitated the PAWSsion Summer Camp. The program encouraged mall-going and pet-loving families to adopt stray cats and dogs, giving them the chance to find their forever home and experience the love and care they deserve. It also sheds light on the importance of spaying, neutering and vaccinating pets by providing these services for free. The services were offered in partnership with De La Salle Araneta University, Rep.

Ronnie Ong and AP Partylist, Ang Animal Ko Protektado, and Volunteer Vets. “Thank you to the Zobel de Ayalas for being a part of our advocacy. Thank you for opening your malls to strays and being one with me in this fight for the voiceless,” shared PAWSsion Project founder Malou Perez. Ayala Malls is a second home for patrons and their beloved pets. Considered key members of the Ayala Malls community, cats and dogs can enjoy safe services and comfortable spaces, so they bond with beloved fur-parents and fellow fur-friends without a fuss. Even amid the pandemic, Ayala Malls continued its mission to offer amazing

experiences by relaunching its official dog park, called “Barkyard.” The facility has been hosting programs such as Central Bloc’s “It’s a Pawty” in Cebu City, Alabang Town Center’s “Adopt a Friend,” and Ayala Malls Manila Bay’s “Adopt a Pound Dog Project.” Moreover, Bonifacio High Street is also launching a new pet event with an adoption program, called “Pet Huddle,” from May 21 to 22 Ayala Malls is currently expanding its pet care and adoption initiatives. Patrons can expect more in the upcoming months. More information about pet policies can be found at tinyurl.com/AyalaMallsPetPAWlicies. More information is available at www. ayalamalls.com.

B6 Thursday, May 5, 2022

Cakes, international cuisine and pork? Here are surprising tidbits from GrabAds’ first Mother’s Day shopper insights

DOT launches the Colors of Mindanao

HE Department of Tourism (DOT) on May 2 launched the Colors of Mindanao campaign as it positions the Philippines’ second largest group of islands that is home to a great many and diverse cultures, landscapes, and gastronomy. The campaign was spearheaded by Undersecretary for Mindanao Myra Paz Valderrosa-Abubakar and the regional directors of Zamboanga Peninsula, Northern Mindanao, CARAGA, the Davao region, and SOCCSKSARGEN— Mindanao’s five regions. In her opening message, Tourism Secretary Berna Romulo-Puyat noted that while each province is known for their unique attributes “this is the first time that the whole of Mindanao is united under one banner.” “What a colorful banner it is, with each hue representing a tourism product that is part of an inter or intraregional circuit. This campaign is timely and significant, as we just recently reopened the Philippines to international tourism,” Puyat added. The campaign showcased new tourism products and circuits under unique color themes corresponding to a tourism aspect: blue for dive tourism, teal for sun and beach, green for ecotourism, brown for farm tourism, violet for culture and heritage, red for adventure and sports, orange for food tourism, and yellow for faith tourism. These were formulated by the five Mindanao regional offices in a bid to foster unity in diversity, sustainability, inclusivity, and a more progressive tourism not only in Mindanao but also in the country. “It is high time that travelers and tourists think of Mindanao as a

UNDERSECRETARY for Mindanao Myra Paz Valderrosa-Abubakar (center) together with the five Mindanao regional directors (L-R) Tanya Rabat-Tan of Davao Region, Marie Elaine S. Unchuan of Northern Mindanao, Crisanta Marlene Paje Rodriguez of Zamboanga Peninsula, officer-in-charge Armin Hautea of SOCCSKSARGEN, and Nelia R. Arina of CARAGA top destination in the Philippines. The island region is blessed with a multitude of beautiful destinations, historical sites, and cultural wonders. The Colors of Mindanao campaign aims to attract different types of travelers to the region, from divers, eco-adventurers, and beach bums -- to history buffs, foodies, and the faithful,” the tourism chief urged. “This campaign also highlights Halal and Muslim friendly tourism, one of the fastest growing tourism sectors in the world. As one of the major new products of the DOT, halal tourism will bring special attention to the attractions and cuisine in Mindanao and help boost the tourism economy in the area,” she added. It can be recalled in 2021 that the

DOT instituted Halal Food Tourism and its first Halal-centric coffee table book titled, “Bismillah Before Eating” to showcase the traditional and culinary offerings of the different regions in Mindanao. Puyat added that the Colors of Mindanao was given a preview at the recently concluded 21st World Travel and Tourism Council (WTTC) Global Summit in Manila when the DOT regional directors of Zamboanga Peninsula, Northern Mindanao, Davao Region, SOCCSKSARGEN, and CARAGA graced the summit in a wardrobe made of Tausug fabrics, beadwork from Bukidnon, Yakan weaves, and other artisan handicraft from Mindanao.

OTHER’S Day is celebrated in over 50 countries all over the world, but no two markets are completely alike in the way they celebrate moms. This year, GrabAds - the advertising unit of Southeast Asia’s leading superapp, Grab - conducted a survey with consumers in Malaysia, Singapore and the Philippines to find how they are planning to celebrate their mums for the coming Mother’s Day. By analyzing the survey findings alongside past GrabFood and GrabMart transaction trends for the Mother’s Day period over the past year, this has revealed surprising tidbits that could be useful in helping you find the perfect gift that warms the heart, and palate, of your beloved mom. Here’s what we found: Mother’s Day shopping is now done via superapps. 79% of surveyed consumers in the Philippines plan to buy Mother’s Day gifts this year, with an overwhelming majority (89%) intending to purchase their gifts via apps like Grab this time round. Surprisingly, Mother’s Day emerged as the day with the highest user traffic on the Grab app in the Philippines last year. In fact, more consumers use the Grab app on Mother’s Day than on Christmas Day, the second-highest day in terms of user traffic for the entire 2021. Consumers in the Philippines are more willing to spend more on Mother’s Day, forking out an average of +40% more money per order on GrabFood and making +30% more GrabFood orders than the average day for Mother’s Day. While it is expected that flowers will continue to be a perennial favourite for Mother’s Day, Grab saw a 4X increase in deliveries for cakes during Mother’s Day last year, showing that consumers in the

Pokémon Hisuian Snow debuts this May

Kaspersky takes 1st place in tests for technological excellence

N 2021, Kaspersky's security portfolio held the leading position in the TOP3 metric. Over the year, Kaspersky participated in 75 independent tests and reviews with its products being awarded 57 firsts and 63 TOP3 finishes. The TOP3 metric shows how successful a vendor is by measuring its performance across a number of independent tests

within a calendar year. Consistent performance across multiple tests and products gives a more meaningful assessment of the company than the results of a single test. The TOP3 metric includes results from lab tests, such as AV-Comparatives, AV-TEST, SE Labs and others. The ‘Advanced Endpoint Protection: Ransomware Protection’ test performed by AV-TEST, saw Kaspersky Endpoint Security Cloud achieve the highest possible result, protecting against all ransomware attacks used in the research. SE Labs awarded Kaspersky Endpoint Detection and Response with the highest-grade, “AAA,” in the Enterprise Advanced Security (EDR) Test because the product detected every one of the 16 targeted attacks from 4

groups with no false positives and a total accuracy rating of 98%. Kaspersky Endpoint Security for Business received the ‘Advanced’ award from AV-TEST in the Advanced Threat Protection Test against ransomware and was also granted several other annual awards from the organization, including “Best Protection”, “Best Performance” and “Best Usability.” Kaspersky Endpoint Security for Business has also been ranked by IDC as a Major Player in the IDC MarketScape and was noted for its ability to offer enterprise customers a natively integrated cross-product solution. AV-Comparatives also ranked Kaspersky Internet Security as “Top Rated” in 2021 with four specific area awards: ATP “Advanced Threat Protection” 2021 Silver, ‘Best Overall Speed’ 2021 Silver, “Lowest False Positives” 2021 Silver and “Real-World Protection” 2021 Silver.

J&J continues to support DOH’s mission on Healthy Pilipinas

OHNSON & Johnson (Philippines), Inc. (J&J Philippines) continues its support for the Department of Health’s (DOH) aggressive efforts to make COVID-19 care available to Filipinos, through the donation of the essential home recovery products. The antiseptic gargles and lozenges for sore throat, as well as alcohol and soaps for hand hygiene will be included in Kalinga Kits for distribution to communities to prevent further transmission of the virus. Director Beverly Lorraine Ho of the DOH Health Promotion Bureau and Disease Prevention and Control Bureau said, “Managing and containing the spread of the COVID-19 pandemic is a continued fight, but one that gets a bit easier with the help of our friends in the private sector.” “Collaboration, commitment, and solidarity are essential to ending COVID-19. That is why we are thankful to our partners, including J&J Philippines, for always being ready to

help Filipinos in need of care,” she added. “It is great news that we are starting to see a semblance of normalcy return to our lives though this does not mean that we should let our guard down,” said president and managing director of J&J Philippines,

Raghu Krishnan. “We will continue to do our part to assist where we can and hope that the donation of these self-care essentials will enable individuals batting the virus at present to manage their symptoms without having to leave their homes.”

Philippines also love to pamper their mums with sweet treats. If you’re wondering what consumers in the Philippines like to order for their mums on Mother’s Day, this may give you some insights. International cuisine and pizza saw a surge in orders on GrabFood by 2X, while pork-based dishes experienced an increase in volume of orders by 1.5X on Mother’s Day last year. “When it comes to e-commerce shopping days, many brands are excited about days like 11.11 and 12.12, but sometimes miss out on traditional shopping days like Mother’s Day and Father’s Day. Since the pandemic has trained consumers in the Philippines to shop on their phones, we anticipate that online-to-offline superapps will play a much bigger role in shaping the shopper behaviors for the coming Mother’s Day. This is where a superapp like Grab is positioned to capture some of these shifts in behaviors, to help brands and consumers meet their needs for a great Mother’s Day celebration,” said Ken Mandel, Regional Managing Director and Head of GrabAds and Brand Insights. For more information, visit GrabAds For Business.

HE Pokémon Company is pleased to announce the three-episode online animated series based on Pokémon Legends: Arceus, (Pokémon Hisuian Snow). Pokémon Hisuian Snow is an original story that takes place in the Hisui region. Episode 1 is slated to be released on the official Pokémon YouTube channel on May 18. Pokémon Hisuian Snow is a story of an age long ago when there was still a divide between people and Pokémon. In the first episode, aboard a boat bound for the Hisui region, (Akio) reminisces about the first time his father brought him there. (Akio)’s father taught him when he was a child, “people and Pokémon cannot live together.” But then, (Akio) met a single Hisuian Zorua in a snowcovered forest... Can people and Pokémon really not coexist? As one of the main characters, (Akio)

is a mild-mannered young man, studying to become a doctor. He heads to the Hisui region in search of medicinal herbs. As a child, he visited the Hisui region once, brought there by his father. The young (Akio) has an adventurous and mischievous side to him. Voice actors Koki Uchiyama and Rie Kugimiya lend their voices to (Akio). Another character to watch is Zorua (Hisuian Form), the Spiteful Fox Pokémon that lives in the Hisui region. It is said that the lingering souls of Zorua that were chased out of their homeland and perished are reborn in this form through the power of their malice toward humans and Pokémon. Also introduced in the episode is Akio’s father, a woodworker. He originally lived in a different region, but recently moved to the Hisui region to procure materials. He came to fear Pokémon after a certain incident. Rikiya Koyama is the voice actor behind Akio’s father. Pokémon Hisuian Snow is under the direction of Ken Yamamoto and written for the screen by Taku Kishimoto. The animation is created by Wit Studio. All first three episodes will be released this May. For more information and updates, visit the official webpage (JP website) https:// www.pokemon.co.jp/ex/legends_arceus/

Cisco Philippines earns 2021 Great Place to Work Certification

HIS year, Great Place to Work® certified Cisco Systems Philippines after 96% of the firm’s employees said that it is a great place to work in – Cisco Philippines scored 43% higher than typical global companies. Cisco is a global technology solutions enterprise with an office in the Philippines. According to Karrie Ilagan, Cisco Philippines Managing Director, “Amid lockdowns and hybrid work arrangements, a key priority for us is to ensure that we continue to support our people so they can continue to do great work. That means providing them with the right tools to collaborate, communicate, and connect whatever their work arrangements may be while ensuring that critical and personal data remain safe and secure, which are at the core of our solutions at Cisco.” Cisco, a world leader in IT and networking, has launched several programs in fulfilling its mission of powering an inclusive future. Most recently, the company launched UGNAYAN 2030, its Country Digital Acceleration program in the Philippines meant to initiate key digital initiatives aimed at growing the country’s GDP, creating jobs, and promoting innovation across the private and public sectors. Within the company, Cisco creates programs that promote a healthy and

innovative work environment as well. Despite the pandemic, Cisco Philippines continues to roll out internal events that encourage employee well-being and connectedness. “At Cisco, we emphasize on Conscious Culture, which is what sets us uniquely apart from everyone else. We celebrate our differences as much as we do our similarities because we embrace diversity in skills, talents, and personalities. This allows us to innovate and create solutions faster, better, and often,” Ilagan emphasized. With a goal of powering an inclusive future for all, Cisco Philippines has fostered a great working environment, which also promotes inclusion and collaboration. “Our people are our greatest asset, and it has been incredibly heartening to see our amazing team come together to overcome the challenges this past year, celebrate our successes, and emerge stronger from this shared experience,” Ilagan concluded.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Pausing is the key to avoid burnout By Rory Visco

Contributor

wo years have passed since the start of the pandemic. A lot of people have managed to overcome and survive not just the physical but also emotional effects of the dreaded Covid-19 and are now enjoying a rejuvenated lifestyle.

But how about those who have not experienced Covid-19 but continue to struggle on other fronts like emotional, physical and mental exhaustion not necessarily caused by that disease? There are those who feel overwhelmed and drained emotionally due to several factors, and stress is one of them. How will they cope, how will they care for themselves and finally beat what experts call “burnout?” During “Beat It: A webicon on the different self-care strategies to combat burnout” organized by the Cardinal Santos Medical Center (CSMC), Clinical Psychologist Lala Balajadia-Alcala, MA, RPsy, talked about the physical, behavioral, and emotional barriers that lead to burnout, as well as self-care strategies to prevent and address it.

Pause, work with burnout There are times during the pandemic that people who either work or study from home experience pains and other worries, thinking that they may not be able to beat the deadline to finish what they’re working on, which may bring a

lot of stress and burnout. Balajadia-Alcala said that to prevent and work with burnout, everyone needs to pause. “The pause is sacred and important so we can make the most out of our daily lives.” She cited a declaration by the World Health Organization (WHO), which said that “ burnout is a syndrome resulting from workplace stress that has not been successfully managed.” She also pointed to three emotional dimensions—emotional exhaustion, depersonalization and a lowered persona l accompl ishment—whic h she called hallmarks of burnout. Those working in the frontlines, the medical services sector, Balajadia-Alcala said, have already been at high risk of burnout even before the pandemic. However, the burnout rates became even higher as the pandemic came, especially among hospitals and frontliners, where hospital staff experienced burnout from increased workload. Add to this the stigmatization of health-care workers, who were even accused of being agents of the virus and naturally avoided and discriminated against, she averred.

“This kind of isolation also included the risk for burnout, where the people they are trying to help turned against them.”

What are the signs? One common sign or symptom is when people notice they have lost interest in their work, sometimes even in things they usually enjoy in their personal lives, that they feel they are just going through the motions. “Our bodies and our emotions are good indicators that something’s not right, symptoms usually give us a clue of what’s going on.” She said this happens even to those in the best of health, when they sometimes feel easily exhausted, experiencing body aches with nary a hint of medical causes. She related that in the time of the pandemic, Balajadia-Alcala noticed that many people have erratic or interrupted sleep schedules, which may signify our bodies reacting to the change in lifestyle, most likely coming from increased responsibilities at work, or even work that’s becoming too monotonous or less challenging. Emotional symptoms may be feelings of helplessness, trapped or feeling unmotivated or detached. “These emotions are usually signals, that we may have lost a sense of control in our lives at work or at home where we get little recognition for all the sacrifices we make.” Some signs of burnout, she said, may be behavioral in nature like skipping work more often, being always late, becoming less productive and efficient that show more errors committed at work. Unfortunately, some people cope using less effective soothing patterns like increase in alcohol or tobacco consumption. Balajadia-Alcala said person-

ality factors may also cause burnout like having a pessimistic view of one’s self in the world or having a high need for control and perfectionism.

Dealing with burnout This means take notice, pay attention and we need to pause occasionally, she said, citing peace activist and Buddhist monk Thich Nhat Hanh who said stopping, calming and resting are pre-conditions for healing, but we need to pause occasionally. “A pause is not a full stop, nor is it an afterthought. There is an intentionality into it so this can mean stopping to notice for a while and to be aware of what you will be thinking, feeling or experiencing in your body.” Pauses are not just mere accidents or minor players in our daily lives, she said, but are and should be intentionally placed there as integral as the work we do. Pausing every so often, she explains, allows us to increase our focus, help slow down or maintain energy levels, or increase awareness in order to make more healthy choices. As a tip, Balajadia-Alcala said one thing is to set good boundaries, which can mean saying no to things more often, and yes to creating that structure in our daily lives that will help provide a greater sense of control of it. She said she experimented with good boundaries, and it was always a trial-and-error thing. She cited that during the pandemic, what worked for her was to set moments at the end of the day to quiet down and pray or meditate, or like keeping some days work-free. “Setting good boundaries really go hand in hand when it comes to prioritizing self-care.”

J&J committed to close the care gap with innovations, support in cancer care

ata revealed during the recent “Transformative Innovations in Cancer Care: The Way Forward” forum confirmed that the overall survival rate of cancer patients has already gone up from one and a half to five years with the use of new therapies. This and other recent innovations in cancer care were the highlight of the forum organized by the Pharmaceutical and Healthcare Association of the Philippines (PHAP), Department of Health (DOH), and Cancer Coalition of the Philippines (CCPH), with support from Johnson & Johnson (Philippines) Inc. (J&J Philippines). Government representatives also presented updates on the National Integrated Cancer Control Act (NICCA) which will provide Filipinos with greater access to cancer medicines and other treatment advancements. Cancer remains to be one of the leading causes of mortality in the Philippines. According to a recent study by

GLOBOCAN, it was found that the most common types of cancer among men are lung, colorectum, and prostate. The same study reported that for women, the top three are breast, cervix, and colorectum. Effective screening and prevention strategies already exist for many of these cancers. There are also treatment innovations developed by researchbased pharmaceutical companies that aim to help cancer patients live longer, healthier lives. “We are seeing better outcomes in terms of overall survival rate and quality of life of cancer patients thanks to these innovations,” said Teodoro Padilla, PHAP executive director. “It is important that we recognize their benefits as we continue to build a future where cancer can be cured or eradicated.”

Leading the way in cancer care

Across its global network, Johnson

& Johnson is at the forefront and on a continuing journey to support both patients and stakeholders in the fight against cancer by introducing new treatments, forging partnerships, and launching programs that aim to transform the lives of cancer patients and their families. Among the health-care giant’s priorities is prostate cancer, which is one of the top 5 cancers in the Philippines. To help fight the disease, J&J Philippines launched a 2nd generation anti-androgen that provides significant treatment benefits for patients diagnosed with advanced prostate cancer. Blood cancer is another area of focus for J&J Philippines. Through the years, the company has developed a portfolio of innovative medicines and therapies for treatment of lymphoma and multiple myeloma. Together with the Philippine government and some medical associations,

J&J Philippines also works to educate the public about prostate and blood cancer to encourage possible patients to seek proper consult, and to let them know of treatment options and other support available to them. Even in their advanced stages, there is still hope for cancer patients. According to the head of Medical Affairs of J&J Philippines, Dr. Erwin Benedicto: “ The developments in cancer research and innovative approaches for cancer treatment available today have evolved cancer from a deadly disease to one that Filipinos can be more hopeful of recovering from. We are committed to supporting our healthcare professionals who are continuing their medical education in this disease area by partnering with key stakeholders in increasing patient awareness, and providing innovative, novel therapies to patients so they can live better and longer lives.”

Thursday, May 5, 2022 B7

Survey says employees want stress-free work environment

By Claudeth Mocon-Ciriaco

ith the relaxation of pandemic-related health and safety protocols, more employers are now encouraged to resume with their regular op-

erations. Employees are now being asked to report back to their workplace as the work-from-home (WFH) arrangement is already considered a privilege rather than a necessity. PhilCare’s Survey of Filipino Workers 2021 revealed that the majority of the respondents (52 percent) strongly agreed that getting exposed to Covid-19 at work and the need to take care of personal and family needs while at work (45.7 percent) could both be considered as causes of work-related stress. However, the survey findings also suggest that the workers would be less stressed if their employers take measures to ensure that they are safe from being exposed to the virus and that their workplace would be more flexible in terms of allowing their workers to adjust to the new work setup. “Working at home was something many employees have gotten accustomed to PhilCare’s survey just shows that reporting back to their workplace is not an idea that employees totally reject,” said PhilCare President and CEO Jaeger Tanco.

Period of adjustment

Tanco added that employees just need the time to refamiliarize themselves with the routine of reporting back to their workplace. Based on the survey findings, here are some initiatives employers can implement in their workplace to reduce factors that may add to the stress of their employees: Have a clear strategy on how to respond to the economic impact of the pandemic; Set clear guidelines on how to promote the safety of employees from getting infected by the coronavirus; and Have a sustainable program that promotes employee health and wellness. As businesses transition to the new normal, introducing additional benefits that are responsive to the actual needs of employees may create a new culture of productivity and sustainability in the workplace. Employees recognize when their employers genuinely look out for their welfare. They repay caring employers with loyalty and diligence in their work. With engaged and involved employees, employers might find it easier to motivate their employees to help the business recover from the detrimental effects of the pandemic.

Public cautioned on prevalence of head and neck cancer, early detection urged By Roderick L. Abad Contributor

HE number of head and neck cancer cases is rising yet not too much is known about the ailment in the Philippines. Statistics show that there are 100,000 new cases of cancer in the Philippines every year. Despite this, however, the government’s annual budget for cancer care is about P1.5 billion only, journalist and entrepreneur Wilson Lee Flores bared while citing its big gap with the state’s P35 billion allocation per year for bullets. This was one of the reasons why he recently organized and moderated the Pandesal Forum to raise national awareness on this less recognized but top killer disease.

High mortality

AstraZeneca, mRNA vaccines equally effective against Covid-19 hospitalization, deaths

straZeneca’s Covid-19 vaccine and mRNA (Pfizer or Moderna) Covid-19 vaccines, the world’s most-used vaccines, provide equivalent protection against hospitalization and death from Covid-19 following two doses, a new expert review of data from 79 realworld studies reveals. The newly reviewed data showed that both the AstraZeneca vaccine, which is one of the available viral vector vaccines, and mRNA Covid-19 vaccines, offer equivalent protection against hospitalization (91.3 to 92.5 percent) and death (91.4 to 93.3 percent) regardless of age, with no statistical difference. While data available at the time of review relates to the Delta and earlier variants, emerging statistics indicate similar findings on serious Covid-19 outcomes resulting from Omicron. Professor Guy Thwaites, Director of the Oxford Clinical Research Unit in Vietnam, said: “Covid-19 vaccines have been critical to saving lives and helping Southeast Asia countries return to some normalcy over the past year. Our expert review shows that the AstraZeneca and available mRNA vaccines provide similar, high-level protection against lifethreatening Covid-19. This is important

information for the region’s policy makers as they consider the optimal deployment of Covid-19 vaccines in their populations over the next 12 months.” Dr Rommel Crisenio Lobo, Vice Chair of the National Adverse Effect Following Immunization Committee, Department of Health said: “The effectiveness of Covid-19 vaccines is not about antibody levels. The ability of Covid-19 vaccines in preventing severe cases and death is the most important measure of their effectiveness. In this regard, different vaccine types including viral vector [AstraZeneca] or mRNA [Pfizer or Moderna] are all comparable.”

Data review

The data, reviewed by infectious disease experts from across Asia, comes from VIEW-hub, an interactive platform for visualizing global data on vaccine use and impact developed by Johns Hopkins Bloomberg School of Public Health and the International Vaccine Access Center. The platform is updated on a weekly basis to include global real-world studies on vaccine effectiveness. The 79 real-world studies reviewed included comparative effectiveness data for AstraZeneca’s vaccine and mRNA vac-

cines. The VIEW-hub platform is not currently designed to capture the safety outcomes of these studies, preventing similar safety comparisons. A st ra Z enec a’s v acc i ne i s a “v iral vector” vaccine, which means a version of a virus that cannot cause disease is used as part of the vaccine, so if the body is exposed to the real virus later it is able to fight it. This vaccine technology has been used by scientists over the past 40 years to fight other infectious diseases such as the flu, Zika, Ebola and HIV. AstraZeneca and its global partners have released over 2.9 billion vaccine doses to more than 180 countries, and approximately two-thirds of these doses have been delivered to low- and lower-middle income countries. The vaccine is estimated to have helped prevent 50 million Covid-19 cases, 5 million hospitalizations, and to have saved more than 1 million lives.

University of Oxford

AstraZeneca’s Covid-19 vaccine was invented by the University of Oxford. It uses a replication-deficient chimpanzee viral vector based on a weakened version of a common cold virus (adenovirus)

that causes infections in chimpanzees and contains the genetic material of the SARS-CoV-2 virus spike protein. After vaccination, the surface spike protein is produced, priming the immune system to attack the SARS-CoV-2 virus if it later infects the body. T he v a c c i ne h a s b e e n g r a nt ed a conditional marketing authorization or emergency use in more than 125 countries. It also has Emergency Use Listing from the World Health Organization, which accelerates the pathway to access in up to 144 countries through the COVAX Facility. Under a sub-license agreement with AstraZeneca, the vaccine is manufactured and supplied by the Serum Institute of India under the name COVISHIELD. In the Philippines, the Covid-19 Vaccine (ChAdOx1-S [recombinant]) COVAX Supply has been given “emergency use listing” by the World Health Organization. Similarly, the direct supply has been granted Emergency Use Authorization (EUA) by the Philippine Food and Drug Administration (FDA). This means that there is more evidence to come about this medicine. The WHO and the FDA will review new information on this medicine as it becomes available.

During this event held at the 83-year-old Kamuning Bakery Cafe in Quezon City last April 29, medical oncologist Dr. Laura Pedraza explained that one reason head and neck cancer is less known and talked about is due to its high mortality. Due to this, there are less number of survivors to tell their stories unlike those of other kinds of cancer. She and her co-panelists, comprised of medical practitioners, cancer survivors and advocates urged the public to do undergo early screening for this illness through regular medical check-ups for those aged 40 and older or whenever something unusual happens to them. They also reminded the people to improve their healthy lifestyle by stopping all kinds of smoking, whether cigarettes or vapes; lessening their alcohol intake to moderate levels; reducing or avoiding oily and too sugary foods and drinks; and taking vaccines that can prevent certain cancers.

Not a death sentence

“Cancer is not the end of life,” Dr. Pedraza said, while citing that preventing or detecting this dreaded disease early on could treat and prevent diagnosed patients from dying. Cancer survivors Jojo Flores and Emer Rojas pushed for the implementation of the National Integrated Cancer Control Act (NICCA) or the Republic Act No. 11215 that was signed into law in February 2019 by President Rodrigo Duterte to grant persons with disability discount cards for all patients diagnosed with cancer and cancer survivors. Department of Health Program Manager for Cancer Control Division Dr. Clar Cairo shared the new programs of the government for free cancer medicines and services to the public nationwide. He enjoined everyone to unite and help in cancer control.

QUEST FOR VOLLEYBALL GOLDS ON

TAGUIG City Representative Alan Peter Cayetano, Rebisco brass Rolly Delfino and Aileen Ragas and Philippine National Volleyball Federation President Ramon “Tats” Suzara, Secretary General Don Caringal and board member Fr. Vic Calvo lead the sendoff ceremony.

By Josef Ramos

HE quest for volleyball gold medals at the Southeast Asian Games is now going full throttle, according to Philippine National Volleyball Federation (PNVF) president Ramon “Tats” Suzara. “Gold, gold, gold. Bring home all the four gold medals,” Suzara said in Wednesday’s sendoff for the men’s and women’s beach volleyball and volleyball teams at the La Luna Café in Taguig City. “I believe we can do it,” he stressed. The country last won gold in the Singapore 2003 Games when a team that Suzara coached clinched the women’s crown. It was either a flat line or downhill from there until the Philippines 2019 edition when the men’s squad finished with a silver medal. Taguig City Representative Alan Peter Cayetano, the godfather of Philippine volleyball, was the guest of honor in the sendoff also attended by Rebisco brass Rolly Delfino and Aileen Ragas, PNVF Secretary General Don Caringal and board member Fr. Vic Calvo of Letran. “I’m so excited to see what our volleyball team can do in the future starting in the Hanoi Southeast Asian Games,” Cayetano said as he encouraged the players to continue to inspire young athletes. “You’re all icons and inspirations to many people—sports in general and volleyball in particular. Thank you to all of you.” The women’s squad coached by

Brazilian Jorge Edson Souza de Brito includes Alyssa Valdez, Mary Joy Baron, Dawn Macandili, Jessica Galanza, Aby Maraño, Marivic Meneses, Ces Molina, Kyle Negrito, Mylene Paat, Dell Palomata, Jaja Santiago, Iris Tonelada and Kat Tolentino. The men’s team under Dante Alinsunurin were also there—Angelo Alemadras, Bryan Bagunas, Marck Espejo, Johnvic de Guzman, JP Bugaoan, Rex Intal, Jack Kalingking, Jessie Lopez, Kim Malabunga, Wilson Marasigan Ave Retamar, Francis Saura, Manuel Sumanguid and Joshua Umandal. Women’s beach volleyball aces Cherry Ann Rondina, Bernadeth Pons and Floremel Rodriguez and their coaches Paul Jan Dolairas and Romnick Rico also attended the event. Jovelyn Gonzaga couldn’t be present because of her commitment with the Philippine Army. Men’s beach volleyball players Jude Garcia and Anthony Arbastro, Alnakran Abdilla and Jaron Requinton were also on hand with their coaches Rhovyl Verayo and Jason Gabales. The players will fly to Hanoi on May 10. The men’s volleyball competitions are set May 14 to 22 while women’s volleyball is from May 13 to 22 at the 7 Quang Ninh Stadium. The beach volleyball events will be held at the Tuan Chau Resort Ha Long.

Sports BusinessMirror

LIVE ANOTHER DAY D

THE Green Archers’ defense limits Fighting Maroon Carl Tamayo’s production.

I was told Kim Aurin won’t be playing,” said first-year coach Myk Saguiguit of his prized forward, who was ruled out because of chickenpox. “I told the boys let’s play this game for Kim, let’s give it to him.” “And the players responded,” he added.

PBA revives Commissioner’s Cup, returns to 3-conference format

HE Philippine Basketball Association (PBA) will bring back the Commissioner’s Cup—making it the traditional three-conference affair—and All-Star during the league’s 47th season that starts in June. Both were not played for two years because of the COVID-19 pandemic. Ricky Vargas, who was elected to a fifth term as PBA board chairman, made the announcement during Wednesday’s virtual press conference also attended by vice chairman Bobby Rosales, treasurer Atty. Raymond Zorilla and commissioner Willie Marcial. “We’re going back to three conferences for Season 47,” said Vargas, who also announced that despite limited movement during the pandemic, the league

still netted a P48.8 million revenue in two conferences of Season 46. “During the pandemic, we lost about P100 million, but we netted P48.8 million in Season 46,” he said. “It’s not bad, it’s a very positive news. Our cash flow has improved.” Season 47 kicks off with the Philippine Cup from June 5 to September 2. The PBA will give way to the Hangzhou 19th Asian Games and will hold the Commissioner’s Cup—where 6-foot-8 imports will reinforce the teams— from October 2 to January 25. The PBA’s participation in the homeand-away East Asia Super League are set in between Commissioner’s Cup games. The last conference—Governors’ Cup—will be played from February 1

who embodies the ideals of a youth ambassador. Several of the country’s beauty queens can trace their roots to Miss CESAFI. “Smart has been very supportive of us in good times or bad. Our relationship with Smart has always been pleasant because we can always work together,” CESAFI Commissioner Felix Tiukinhoy Jr. said. “This is already our 8th year of partnership, and we hope that Smart will give us the same support in our upcoming CESAFI runs.” Smart has been the league’s exclusive partner since 2013. Founded in 2000, CESAFI encourages closer inter-school relationships while creating a platform to promote the physical and intellectual abilities of student-athletes through sports and academic competitions. CESAFI is the successor of the Cebu Amateur Athletic Association established in the 1940s. The league has produced some of the country’s sporting legends who have played in local competitions and have represented the country in international events.

E LA SALLE got to live another day after disarming University of the Philippines (UP) of its twice-to-beat edge, 83-80, in Final Four action of the University Athletic Association of the Philippines Season 84 men’s basketball tournament on Wednesday at the Mall of Asia Arena. The win-or-go-home rubber match for a slot in the Finals will be on Friday. “The boys really played hard today. They played 40 minutes of solid basketball,” head coach Derrick Pumaren of his Green Archers, who are the No. 3 seeds in the semifinals. “It was a disciplined effort and everyone was on the same page today.” De La Salle was in control most of the way but got a scare when Ricci Rivero, Gerry Abadiano and Malick Diouf scored six straight points to pull UP to within six, 75-81, with 24.5 seconds remaining in the game.

Justine Baltazar was sent to the line De La Salle’s end but missed his charities. Those misses set up an Abadiano triple to slash the Fighting Maroons deficit to just three, 78-81, with 13.4 ticks to go. UP then tried Evan Nelle’s freethrow shooting which he split but enough to give the Green Archers a four-point lead with 12.1 seconds, 82-78, as Rivero flunked his attempt from deep in the ensuing play. Nelle proved his steady hand on the big stage with 26 points on 8-of-13 shooting from the field to go with seven assists, six rebounds and three steals. Baltazar chipped in 15 points and 18 rebounds with three assists and two blocks, while Kurt Lojera had 11 points, five rebounds and four assists. Trailing by 11 at the half, the Fighting Maroons opened the third quarter with a 5-2 exchange to inch within 42-50. But the Green Archers responded with a 16-2 attack—highlighted by a rare four-point play by Nelle—for a 22-point advantage with 2:25 left in the third for a 66-44 count. UP answered with 11 straight points to trail by 11 points, 55-66, after the period. Diouf and Rivero each had 18 points apiece for the Fighting Maroons with Diouf grabbing 20 rebounds with three blocks. Rivero also got eight rebounds with five blocks. Carl Tamayo shot poorly—2 of 14 to contribute only seven points for UP. Key cog CJ Cansino did not play because of a bone bruise he acquired in UP’s win against Ateneo last Sunday.

Philracom Chairman’s Cup up

to May 10 with the All-Star break set during that period. Season 45 was reduced to a only the Philippine Cup under a strict bubble format in Clark, Pampanga. The Philippine Cup was played last year in another bubble in Bacolor, Pampanga, while the Governor’s Cup started off without fans but finished with a full-house crown in the finals that saw Barangay Ginebra San Miguel beat Meralco in six games. The annual Rookie Draft is set on May 15. Josef Ramos

Smart reboots partnership with Cesafi LDT wireless unit Smart Communications Inc. (Smart) has partnered with the Cebu Schools Athletic Foundation Inc. (CESAFI) to bring back the premiere collegiate and high school league after a two-year hiatus because of the COVID-19 pandemic. Smart is the league’s exclusive telco partner. “Smart’s long-standing partnership with CESAFI is anchored on its mission to support passion points of the youth such as sports in different provinces,” said Melvin Consunji Nubla, FVP and Head of Go-To-Market and Subscriber Management at Smart. “We want to further the goal of enabling students to be the future leaders of the country and next world-class Filipino athletes.” In the coming weeks, rivals from the 13 member schools of CESAFI will battle it out in various sports, including debuting esports. The reinvigorated season kicked off with the search for Miss CESAFI. A staple of the league, the pageant crowns the school representative

| Thursday, May 5, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

GREEN ARCHERS

Altas bag last Final Four ticket

NIVERSITY of Perpetual Help System Dalta bucked the absence of Kim Aurin to beat College of Saint Benilde, 76-64, and secure the remaining Final Four berth in the National Collegiate Athletic Association seniors’ basketball tournament on Wednesday at the Filoil Flying V Centre. “When I woke up this morning,

THE US will more aggressively work to secure Brittney Griner’s release even as the legal case against her plays out. AP

HE stage is set for the P2.5-million Philippine Racing Commission (Philracom) Chairman’s Cup this Sunday at the Metro Manila Turf Club in Malvar, Batangas. The race will cover a lung-busting 2,000 meters featuring older horses. Perennial rivals Edward Vincent Diokno’s Boss Emong (Dance City out of Chica Una bred By Tony Tan Jr.), which won this year’s Commissioners’s Cup, and Leonardo “Sandy” Javier Jr.’s Super Swerte (Art Moderne out of Faster Tapper bred by Javier himsef), which took home the Classic Cup, headline the main event. Challenging them for the top prize of P1.5-million are Wilbert Tan’s 2020 Presidential Gold Cup Champion Pangalusian Island which has been returning to form as of late, Redentor Domingo’s Isla Puting Bato, which has been always in the money in his recent stake race participations,

and Melaine Habla’s Big Lagoon. The racing public is expected to favor Super Swerte and Boss Emong—with a slight leaning on Super Swerte—both of which have been splitting their recent encounters with the latest, a breathtaking duel from the opening of the gate in the Philracom Classic. Seven gallopers vie for the P450,000 winner’s prize in the Chairman’s Cup Division 2 (2,000 meters) led by undefeated Robin Hood, stablemate Magtotobetski, Golden Sunrise, Hookbung Dagat, King Tiger, Moment of Truth and Shanghai Noon. Division 3—also over 2,000 meters—of the annual event which gives P300,000 to the winner will feature Blackburn, Bravo and stablemate Prime Time Magic, coupled runners Greatwall and Patong Patong, Gusto Much, La Liga Filipina, Life Gets Better and Victorious Colt.

Zelenskyy-signed baseball to be sold for Ukraine relief

THE ball is expected to sell for at least $15,000 but the leading bid as of Tuesday has already exceeded that amount. AP

HEN Ukrainian President Volodymyr Zelenskyy autographed a baseball for an American collector in 2019, he likely had no idea it would one day be used to help his nation during a time of need. The official Rawlings Major League baseball is being sold by Randy Kaplan, a renowned collector of balls signed by world leaders, with a portion of the proceeds going to war relief efforts in Ukraine, auctioneer RR Auction of Boston said Tuesday. The ball was expected to sell for at least $15,000 but the leading bid as of Tuesday had already exceeded that amount, an RR spokesperson said. “With what’s going on in the world right now it makes sense to auction it at this point because the proceeds will help the people in Ukraine,” Kaplan said in a telephone interview “What’s going on in Ukraine is a disgrace and it’s breaking my heart to see the people dying there. Their needs are just so dire right now.” The ball is signed with black felt tip both in Ukrainian Cyrillic and in Latin letters. It is accompanied by a transmittal letter signed by Volodymyr Yelchenko, Permanent Representative of Ukraine to the United Nations, which reads: “Dear Mr. Kaplan, Please find enclosed a baseball, signed by the President of Ukraine, H.E. Mr. Volodymyr Zelenskyy during the visit to New York in September 2019.” In addition to the unspecified percentage of the sale that will be donated through the global nonprofit Americares, RR Auction will contribute its buyer’s premium and seller’s commission to war relief efforts. Americares’ website describes its humanitarian response in Ukraine as focused on the medical needs of millions of refugees. Kaplan is a governmental affairs specialist from New York who has many contacts with the UN and in US politics. He doesn’t buy his baseballs at auction, instead acquiring them himself through those contacts. He started his collection in 1996 when former President Bill Clinton signed a baseball for him at a meeting in Washington, DC. The collection, which now numbers more than 500 items, has been displayed at museums and presidential libraries around the country. This is not the first time he has auctioned a piece of his collection, but this is probably the first time he has sold a ball signed by such a high profile leader, a man he has come to admire during the country’s war with Russia. “I am really hoping Zelenskyy survives this,” Kaplan said. “He’s a very brave man.” The auction that ends May 11 also includes autographs and artifacts from Johann Sebastian Bach, Nikola Tesla, and Albert Einstein. AP

State Department: Griner considered wrongfully detained

ASHINGTON—The Biden administration has determined that Women’s National Basketball Association (WNBA) star Brittney Griner is being wrongfully detained in Russia, meaning the United States will more aggressively work to secure her release even as the legal case against her plays out, the State Department said Tuesday. “The US government will continue to undertake efforts to provide appropriate support to Ms. Griner,” the department said.

Griner was detained at an airport in February after Russian authorities said a search of her bag revealed vape cartridges containing oil derived from cannabis. Since then, US officials had stopped short of classifying the Phoenix Mercury player as wrongfully detained and said instead that their focus was on ensuring that she had access in jail to American consular affairs officials. Now, though, US officials have shifted supervision of her case to a State Department section—the Office of the Special Presidential Envoy for Hostage Affairs—that is focused on

Casimero stripped of title

HE World Boxing Organization (WBO) stripped Johnriel Casimero of his bantamweight world title after his failure to

defend the title for the second time, according to the memorandum released by the WBO on Wednesday. Englishman Paul Butler, who beat late replacement Jonas Sultan last April 22 in Liverpool, was elevated as

negotiating for the release of hostages and other Americans classified as being wrongfully detained in other countries. A consular officer did visit in March. “Brittney has been detained for 75 days and our expectation is that the White House do whatever is necessary to bring her home,” said Griner’s agent, Lindsay Kagawa Colas. The president of the WNBA players’ union, Nneka Ogwumike, noted in a separate statement that “it has been 75 days that our friend, teammate, sister, Brittney Griner, has been wrongfully detained in Russia.” AP a full-time world champion. Casimero failed to defend his belt first in Dubai last December 11 because of viral gastritis and was disallowed by the British Boxing Control LTD to fight Butler last month after violating England’s weight lost procedure by using a sauna a week before the fight. Josef Ramos