BusinessMirror May 05, 2021

ADB launches Asia Pacific Tax Hub to help DMCs

By Cai U. Ordinario @caiordinario

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HE Asian Development Bank (ADB) has officially launched an Asia Pacific Tax Hub to encourage more Developing Member Countries (DMCs) to maximize regional and international resources to strengthen domestic resource mobilization (DRM) and international tax cooperation (ITC).

In a statement, ADB said the Hub will organize a first High-Level Conference by the fourth quarter of 2021 to report on the progress and discuss next steps on the three building blocks of the hub, including details of the operations of the hub secretariat and Steering Committee.

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ADB said it will establish a secretariat to operationalize the hub and organize a Steering Committee to bring together key development partners. It will also work closely together with the hub secretariat to lead the operation of the hub.

“Domestic resource mobilization has emerged as a major strategic priority for our DMCs at this moment.

It will be vital in the effort to address debt sustainability and to achieve the Sustainable Development Goals,” ADB President Masatsugu Asakawa said. “The lack of a pan-regional tax community has been a unique and significant shortcoming for Asia and the Pacific. To address this, I would like to announce today the official launch of the Asia Pacific Tax Hub.”

Debt sustainability

In a presentation, Asakawa said DRM is needed to help DMC address debt sustainability and achieve the Sustainable Development Goals (SDGs).

Asakawa said Covid-19 has substantially increased public debt in the region because DMCs needed to respond to the crisis through health and social protection efforts. Tax revenues also suffered due to the lockdowns.

With this, the hub will also help DMCs prepare medium-term revenue strategies (MTRS) and road maps for the automation of tax administration, as well as encourage proactive participation in international tax initiatives.

The hub, ADB said, will play a key role in encouraging regional dialogue and knowledge sharing on the

needed reforms. The ADB will help DMCs by coordinating with the International Monetary Fund (IMF) in supporting DMCs in efforts to collaborate on tax and diagnostic tools like the Tax Administration Diagnostic Assessment Tool.

ADB said the hub will also support DMCs with needs assessments to prepare road maps for the automation of tax administration, as well as facilitate policy dialogue with the Organisation for Economic Cooperation and Development (OECD).

In this regard, the hub will stimulate proactive participation of DMCs in the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and the Global Forum on Transparency and Exchange of Information for Tax Purposes.

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Wednesday, May 5, 2021 Vol. 16 No. 203

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DTI PITCHES VOLUNTARY LICENSING FOR VACCINES n

DOLE PRODS PRIVATE SECTOR WORKERS: GET VACCINATED

By Bernadette D. Nicolas @BNicolasBM

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Residents of Marikina City get their second dose of Covid-19 vaccine Sinovac at the Marikina City Mega Vaccination Facility located at Marikina Elementary School. Those who belong to A1, A2 and A3 category or those who work in the health industry, senior citizens and persons with comorbidity, got their second dose of the vaccine. NONOY LACZA

By Tyrone Jasper C. Piad

P

@Tyronepiad

HARMACEUTICAL firms should opt to secure voluntary licensing to produce Covid-19 doses despite the worldwide call to waive patent protection for the vaccine, the Department of Trade and Industry (DTI) said.

See “DTI,” A2

PESO exchange rates

15% compromise tariff rate for pork ‘reasonable’–group

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE 15-percent compromise tariff rate for pork imports being discussed by senators and economic managers is “reasonable,” an industry group said, adding that it wou ld be more benef icia l to consumers if the lowered rate

would last until 2025.

In a letter addressed to Senate President Vicente Sotto III, Meat Importers and Traders Association President Jesus C. Cham said lower pork tariffs are necessary to allow the country to compete with other pork importing countries, such as China.

HE Department of Labor and Employment has strongly urged private sector employees to get vaccinated against Covid-19, while affirming a policy barring discrimination against unvaccinated workers.

However, t he president i a l adv i ser on ent re pre neu rsh ip s a id he i s open to a pending measure i n C on g re s s m a nd at i n g compu l sor y v acc i n at ion.

In Labor Advisory 8 dated May 1 and signed by Labor Secretary Silvestre H. Bello III, the labor department said all employees in the private sector, except those who are ineligible or disqualified for health reasons, are highly encouraged to get inoculated with Covid-19 vaccine.

Meanwhile, Bello added employers shall continue to urge t heir respect ive employees to sign up for their vaccination program, if any, or their respective local government units.

The DOLE said employers shall also seek appropriate

assistance from government agencies in the administration of Covid-19 vaccine.

L abor Undersecret a r y Benjo Santos Benavidez also clarified that the “no discrimination, no termination” policy shall still apply in the latest labor advisory.

In March, DOLE said in its Labor Advisory 03 that any employee who refuses or fails to be vaccinated shall not be discriminated against in terms of tenure, promotion, training, pay and other benefits, among others. He shall also not be terminated from employment. A “no vaccine, no work” policy shall also not be allowed.

Apart from this, the labor department has also said no cost of vaccination in the workplace shall be charged against or passed on directly or indirectly, to the employees.

On Monday night, vaccine czar Carlito Galvez Jr. said 1.948 million vaccines have already been administered.

The country aims to administer 140 million vaccine doses this year to cover all 70 million adult Filipinos.

See “DOLE,” A2

See “Tariff,” A2

n US 48.0880 n japan 0.4409 n UK 66.9289 n HK 6.1916 n CHINA 7.4302 n singapore 36.1754 n australia 37.3163 n EU 58.0230 n SAUDI arabia 12.8238

Source: BSP (4 May 2021)

A2

BusinessMirror

Wednesday, May 5, 2021

Tariff. . .

Continued from A1

Cham explained that the Senate’s proposed 15-percent compromise pork tariff rate would “afford a reasonable level of protection” to the hog producers.

However, Cham pointed out that at such a rate, the government’s target suggested retail price for imported pork, which is P300 per kilogram for liempo, “may need to be revised upward.”

Cham added that the compromise rate shall only take effect for the last nine months of Executive Order (EO) 128 which reduced tariffs on pork imports.

President Duterte issued EO 128 last month which cut pork tariffs to 5 percent for in-quota imports and to 15 percent for out-quota imports for the first three months of the measure, or until July 8. Afterwards, both tariff rates would increase by 5 percent for the next nine months before it reverts to its 30 percent (in-quota) and 40 (out-quota) percent levels.

Cham also proposed that the 15-percent tariff rate would be more beneficial to the economy and consumers if it would be “incorporated into the upcoming tariff schedule and remain in effect until end 2025.”

Cham claimed a 5-year period of lowered pork tariffs would increase supply of affordable pork and “usher peace for the next 4 years and allow the producers and the [Department of Agriculture] to buckle down and work on [industry] recovery.”

He added that it would also “allow legitimate importers to become more competitive vs unscrupulous importers.”

“There will be less incentive to underdeclare or misdeclare, thereby lessening the opportunities for graft and corruption. In/out quota rates may be unified and MAV [minimum access volume] set aside,” he said in his letter submitted to Sotto on May 3.

“We hope that the compromise may be reached and finalized soonest in order to dispel uncertainty and provide predictability,” he added.

DILG chief has ‘buyer’s remorse’ on ‘overrated’ contact-tracing app

By Ma. Stella F. Arnaldo

According to government sources who attended the IATF meeting last Thursday, DILG Secretary Eduardo M. Año even expressed “buyer’s remorse” over the app, which was donated by the developer, Multisys Technologies Corp. He was quoted as saying the app was “overrated.

There is much to be improved, which will require funds and time, both of which we don’t have.”

assessed it, they found it “not really functioning…. It’s very hard to sell to the public and even to the LGUs [local government units] to adapt,” he told IATF members.

Sou rces sa id t he DILG c h ief likened StaySafe to a car which w a s d e l i v e r e d t o h i s ho u s e “w it h a n i ncomplete e ng i ne a nd t ra nsm ission.”

However, in his online presser also on Tuesday, Presidentia l spokesman Har r y Roque claimed, “All the controversies surrounding this app have already been resolved. A ll that had to be donated have already been donated to the Philippine government. This is already being used and implemented by the DILG and the technical assistance is being provided by DICT [Department of Information and Communications Technology].”

As for the deliverables, he added, “These have already been done and we have decided to go full speed ahead with the StaySafe.ph.

We are all systems go.”

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Special to the BusinessMirror

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TAYSAFE.PH, the digital app adopted by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) for its contact-tracing efforts, apparently cannot be depended on yet to perform its function.

In a news conference on Tuesday, Baguio Mayor Benjamin Magalong, who is also government’s “contacttracing czar” said, the Department of the Interior and Local Government (DILG) is currently on a “study and learning status [mode]. The documentation is incomplete, so I can’t say categorically that this StaySafe app is highly reliable. It needs further study and tweaking, along with the documentation, and enhance further its functionalities.”

He admitted that contacttracing was still the “weakest link ” in the government’s fight versus Covid-19.

DILG expected that the app that was to be turned over to them would already be “up and running,” Anõ reportedly said. However, when they

Magalong said the Department of Health (DOH) actually rejected the StaySafe app because it disagreed with the developer,

Multisys, on how to go about in turning over the project. He likened it to the DOH “wanting to have the key to a house that had been turned over, so they can inspect if it is well made, and the facilities are complete, before it accepts the house. [Multisys] on the other hand, wanted to turn over the house, before they give the key to it.” (See, “Controversial contact-tracing app at the heart of new govt safety seal certification for business,” in the BusinessMirror, April 16, 2021.)

He acknowledged that DOH had a point: “We have to inspect and evaluate the app’s source code, your production data base, and what other functionalities it has, so we can be sure that your system is well-made.”

After being rejected by DOH, he said the digital app was donated to the DILG, but could not say why government was still adopting StaySafe, when it didn’t work.

He referred reporters to DILG’s information technology experts for answers.

Magalong himself doesn’t use the StaySafe app in Baguio City, but the Visita app developed by InnoPub Media, and funded by the Department of Tourism.

‘MANAGING COVID-19 RISKS TO BOOST JOBS SECTOR’

By Cai U. Ordinario @caiordinario

‘Bold, courageous move’

Cham said the government’s decision to reduce pork tariffs was a “bold and courageous move,” noting that imported pork liempo now retails at P300 per kilogram in wet markets while pork kasim/pigue is being sold at P250 per kilogram.

Earlier, Sotto called for an all-senators caucus as backchannel negotiations continue between the Executive and Congress on a possible compromise over the rate by which pork tariffs will be cut, and the level by which the minimum access volume for pork importations would be increased.

The talk of a compromise began with the April 27 appearance at the Senate Committee of the Whole of Finance Secretary Carlos G. Dominguez III, who as head of the economic development cluster (EDC), took responsibility for the recommendations and final decision, as approved by the President, on the substantial declines in tariffs, and the increase in MAV to 400,000 metric tons.

The local hog sector had protested these moves, saying tariff cuts and huge importation quotas would effectively wipe out the P300-billion industry, already reeling from the impact of the African swine fever (ASF). Dominguez had told senators during the April 27 hearing that they were “open to a compromise” on the issues.

Sotto said they had asked the Executive to consider halving the rate of tariff cuts under Executive Order 128 which slashed the rates from the 30 (in-quota) and 40 percent (out-quota) to just 5 and 10 percent. “Overall, we asked for just half” of what the Executive decreed in terms of tariff cuts and MAV. “If they wanted to allow 400,000 [MT] as minimum access volume, we suggested, just 200,000. As for the 40-percent tariff they wanted to cut, [we suggested 20] and for the 30 [percent], [just cut to] 15.”

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HE management of risks associated with Covid-19 would increase the chances of more Filipinos getting jobs, according to the National Economic and Development Authority (Neda).

In a statement on Tuesday, Socioeconomic Planning Secretary Karl Kendrick T. Chua said managing the risks will empower firms and individuals to open their businesses and work in the new normal.

“Managing the current risks brought about by the Covid-19 pandemic and other economic shocks will be crucial

in continuously improving labor market conditions,” Chua said.

Chua advocated a three-pronged strategy to accelerate job creation this year. The first strategy is to safely reopen the economy while adhering to public health protocols. Efforts to intensify the prevention, detect, isolate, treat, and recover are needed.

Another strategy, Chua said, is to fully implement the government’s recovery package, particularly in terms of the budgets that have been allocated but not yet fully spent.

Chua also cited a need for the g ove rn m e nt to e n s u re t h e t i m e ly

implementation of the vaccine program to cover the entire adult population.

“All of us in government, the private sector, and the whole country need to rally behind the goal of safely reopening the economy. We will use transparent and credible data support to make all these important decisions,” he said.

The recovery package amounts to P2.76 trillion or 15.4 percent of GDP. This includes a combination of emergency support for vulnerable groups, other fiscal measures such as tax subsidies and exemptions.

The biggest of this is from the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and monetary

actions to help keep the economy afloat.

All of these complement the 2021 budget.

“The 2021 budget was designed to achieve our economic recovery, alongside all the other complementary measures, such as Bayanihan 2, and the recently enacted CREATE and SAP,” he affirmed.

Based on the results of the World Bank’s Impact of Covid-19 to Firms and Households surveys, the country’s labor market situation needs further improvement.

Only around half of workers feel that their workplaces are safe, while around a third of firms have experienced some form of closure during the pandemic.

Aussie firms stay in PHL, upbeat despite pandemic Continued from A10

Last month, President Duterte sig ned Executive Order (EO) 130, which amended Section 4 of EO 79 on the Grant of Mineral Agreements Pending New Legislation. The new EO allows the Department of Environment and Natural Resources and the Mines and Geosciences Bureau (MGB) to process applications for new mining projects.

The Australian mining firms, R obi n son s a id , a re “a l re ady thinking about what...the future holds for them as result of the ban...being lifted.”

DOLE. . .

Continued from A1

Concepcion open to forced vaccination

Meanwhile, Presidential Adviser for Entrepreneurship Joey Concepcion is willing to support a bill seeking to make Covid-19 vaccination mandatory for the country to achieve herd immunity, but the employers’ umbrella organization flagged some legal concerns.

Concepcion said on Tuesday during a Laging Handa briefing

The ambassador added he is “very optimistic” about the future of Australian mining here in the Philippines.

“The Philippines is a natural resource rich country and there is much that could be done here that would really benefit the Philippines recovery,” Robinson said.

MGB said last month at least 100 new mining projects were pending for approval, which can generate P21 billion in revenues and a minimum of 42,000 new jobs.

Market access

Australia is also looking forward to finishing the discussions soon that he will back House Bill 9252 if needed to ensure the Philippines attains herd immunity to ensure swift recovery for the economy.

The said bill aims to require the vaccination of individuals based on the recommendation of the Department of Health. The inoculation for said individuals will be administered without charges if ever.

“If we fail in this campaign to convince [our employees to get vaccinated]...we will support it [mandatory Covid-19 vaccination],” he said, noting that a low turnout of vaccination will also be a factor.

Concepcion has been pushing for the vaccination of the private sector, noting that AstraZeneca doses will arrive in June.

The shipments are seen to cater about 100 companies and conglomerates which ordered Covid-19 vaccines earlier.

on the Philippines’s market access request for its banana exports.

“Where that currently stands is the Philippines and Australia are working to provide an exchange of information between us about various standards and processes,” Robinson said. “We are hopeful of moving all of these discussions towards a positive conclusion as soon as possible.”

The yellow fruit is considered a major agriculture export product for the Philippines.

Last year, banana ex por ts reached 3.595 million metric tons (MT), which is 18.35 percent lower than 4.403 million MT in

2019, according to the Philippine Statistics Authority (PSA).

Revenues from banana exports fell by 20.6 percent to $1.552 billion last year from $1.953 billion.

The Department of Trade and Industry earlier said they were also seeking market access for dragon fruit and durian from Australia.

According to PSA, the country’s exports to Australia fell by 10.3 percent to $356.94 million in 2020 from $398.10 million year-on-year.

Imports from Australia reached $766.42 million last year, which is 45.7 percent lower than $1.41 billion in 2019.

Zuellig Pharma will be in-charge of storing the doses in its warehouse when they arrive, Concepcion explained. He said a logistics provider will also deliver the Covid-19 vaccines to the vaccination centers chosen by the company.

“The faster we implement, then we can stop this infection from going all over,”Concepcion said.

“We are really pushing really hard to encourage every employee. It is your civic duty.”

will be invoked on that,” the Ecop chief explained.

But Ortiz-Luis said that it may not be “too difficult”to persuade the population to be inoculated with Covid-19 doses as there are not many adverse reactions from the recipients here yet.

Some companies, he shared, are even asking how to be included in the Covid-19 prioritization list.

“At this point of time, kailan mo gagawing compulsory, eh, ni wala ngang bakuna [when can you make Covid-19 vaccination compulsory if there are no doses yet],” Ortiz-Luis added.

Recently, Concepcion launched the Let’s GO Bakuna Campaign to boost vaccine confidence among the Filipinos. The program aims to do this through vaccine education forums, webinars, town hall meetings and multi-platform information materials on the matter.

The initiative is backed by over 1,000 private

Ecop: Forced jabs not feasible

Meanwhile, Employers Confederation of the Philippines President (Ecop) Sergio Ortiz-Luis Jr. said during the same briefing that making Covid-19 vaccination compulsory may not be “feasible” at all.

He said there might be a legal concern when individuals are being forced to get vaccinated against their will. “I think even the Constitution

DTI. . .

Continued from A1

Trade Secretary Ramon Lopez said there is only a slim chance the waiver for Covid-19 vaccine intellectual property (IP) rights will be approved by the World Trade Organization (WTO) given there is no consensus yet.

According to reports, over 100 countries have supported the proposal to allow quicker mass production of the doses amid surging infection rate. However, the European Union, Britain, Switzerland, and the United States, among others, said that maintaining IP rights for Covid-19 vaccines will encourage pharmaceutical firms to further their research and development.

“In the end, what should happen, if ever, is voluntary licensing instead. This cannot be done unilaterally,” Lopez said.

In securing a voluntary license, the patent holder is authorizing a generic company to produce patented articles, such as the Covid-19 doses.

“At this point, it is a supply issue where the vaccine manufacturers cannot keep up with the global demand rather than IP issue,” Lopez added.

Should the waiver be approved, the Trade chief explained the Philippines still has to implement its IP laws, which means patent protection remains. “To suspend application of IP laws, this will require amendments of our IP laws,” he said.

“Moreover, in addition to WTO Agreements, the Philippines has other [free trade agreements] which we have to comply with in good faith,” Lopez added.

IPOPHL’s take

C urre n tly, the DTI- chaired Technical Committee on WTO Matters, where Intellectual Property of the Philippines (IPOPHL) is a member, is still reviewing the matter.

The DTI and IPOPHL said some aspects of the petition to waive patent protection are not clear yet.

“It may be noted that as of date, the proposal remains to be vague and lacking of details as to certain elements particularly, on its operationalization,” IPOPHL Director General Rowel S. Barba told the B usiness M irror.

Barba said that while the Philippines has yet to decide its position on the matter, the IPOPHL is considering both the public health and IP system as it proceeds with the discussions.

“IPOPHL recognizes the paramount importance and primacy of public health and the need to balance it with a stable and predictable IP system to foster and promote innovation and creativity among Filipinos,” Barba said. “This will remain to be our consideration in discussing the issue with the other relevant government agencies as we prepare the Philippine position.”

IPOPHL said it will continuously monitor the developments of the proposal in the WTO’s Trade-Related Aspects of Intellectual Property Rights (TRIPS) council.

WTO’s TRIPS Agreement is a multilateral accord on intellectual property covering copyright and related rights, trademarks, geographical indications, industrial designs and patents, among others.

The agreement, which took effect on January 1, 1995, sets the minimum standards of IP protection, enumerates enforcement procedures and covers dispute settlement.

Last week, the International Chamber of Commerce (ICC) urged the Philippine business community to “pressure” the government to eliminate trade barriers that may hamper the delivery of Covid-19 doses.

ICC Secretary General John W.H. Denton said the governments across the world can reduce legal barriers, lift export restrictions and even eliminate tariffs on pharmaceutical and medical goods. These, in addition to streamlining the customs procedures to ease trade facilitation, he said. sector companies.

“Vaccinating employees is the only solution that will allow us to return to work and open the economy,”Concepcion said in an earlier statement.

“We can’t afford more lockdowns.”

In a separate statement on Tuesday, the Philippine Economic Zone Authority (Peza) sought to include its locators and employees in the A4 priority group for Covid-19 vaccination as they are economic frontline workers.

“Peza-registered companies, ecozone and industry workers are considered frontline workers as they have continued working to ensure the unhampered service to contribute to the global supply chain,” Peza Director General Charito Plaza said.

The economic zone regulator manages 410 ecozones and 4,643 locator companies to date.

With Tyrone Jasper C. Piad

The Nation BusinessMirror

www.businessmirror.com.ph

6.4 million Pinoys reach Step 2 for Natl ID registration

Group says ADB financing of gas projects in AsPac undermines climate commitments

By Cai U. Ordinario @caiordinario

By Samuel P. Medenilla

& Jonathan L. Mayuga

@sam_medenilla

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ESS than 20 percent of the 33.4 million people, who were already registered by Philippine Statistics Authority (PSA), are close to getting their National ID. As of May 3, 2021, the National Economic and Development Authority (Neda) said only 6.4 million of the individuals moved to the second step of their registration process, wherein they would have their biometrics data taken.

The collected data from the said individuals will be stored in the PSA’s Philippine Identification System (PhilSys).

Socioeconomic Planning Secretary Karl Kendrick Chua attributed the slow pace of the implementation of the second phase of their registration process to restrictions to mass gathering due to the novel coronavirus disease pandemic.

“The implementation of the second phase is slower since we cannot require them to go to registration center.

We must be cautious so we will not spread the virus,” Chua said during the public address of President Duterte late Monday evening.

On a positive note, Chua noted that of the 6.4 million people, who have already completed the second phase of their registration, 2.2 million were finally able to open bank accounts with the Land Bank of the Philippines.

He noted such “financial inclusion” to more Filipinos is one of the main objectives of the National ID system.

“Land Bank is co-locating in all the PhilSys registration sites with the goal of opening a bank account for all low-income Filipinos by the end of 2021,” Chua said.

“We want all families to have at least one bank account before the end of the year. This is what we meant when we say 100 percent financial inclusion by family,” he added.

Chua said the National ID also aims to help with the ongoing vaccine deployment of the government, as well as the distribution of social amelioration.

President Duterte lauded Chua for pushing through with the implementation of the National ID system despite challenges posed by the pandemic.

Editor: Vittorio V. Vitug • Wednesday, May 5, 2021 A3

@jonlmayuga

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IVIL-SOCIETY organizations (CSOs) in the region disclosed that the Asian Development Bank (ADB) spent a total of $4.7 billion to finance various gas projects.

In a news statement, CSOs said gas expansion poses one of the greatest threats to meeting the goals of the Paris Agreement and averting the very worst impacts of the climate crisis.

They said financing these projects undermine the commitments made by the Manila-based multilateral development bank to further its climate and efforts to achieve a “prosperous, inclusive, resilient, and sustainable Asia and the Pacific.”

“The ADB is meeting to discuss ‘collaboration for resilient and green recovery,’ but every dollar the ADB spends on gas and other fossil fuels undermines those efforts. Recovery can only be green and sustainable if the recovery funds do not include any support for dirty gas, coal and oil projects, which are fueling the climate crisis and harming communities and ecosystems,” Sophie Richmond, coordinator of the Big Shift Global said.

According to Carbon Brief, gas played a larger role in increasing global emissions than coal in every year between 2013 and 2019.

Of the ADB’s $4.7 billion in financing for gas, the majority was allocated for gas-fired power plants at 44 percent and exploration/extraction at 21 percent, according to the analysis by the Fossil Free ADB coalition and Oil Change International.

The Fossil Free ADB campaign was created by the coalition to prompt the ADB to stop fueling the climate crisis and end financing for fossil fuels.

“The ADB knows better. The Bank knows fossil fuel energy is a key driver of climate change and that its members are among the most climate-threatened in the world, and yet the ADB still finances fossil fuel projects in our region.

We demand the ADB stop financing coal, gas and oil,” Lidy Nacpil, coordinator of the Asian People’s Movement on Debt and Development (APMDD) stated.

Further, the coalition said the ADB is playing a critical role in laying the groundwork for gas infrastructure development and expansion in Asia through its technical assistance program.

The ADB approved $11.1 million in technical assistance grants from

2016-2020 to help governments prepare to build out gas pipelines, power plants and LNG terminals across Asia. These grants have had an outsized impact per dollar relative to loans and guarantees.

The coalition is calling on ADB to scale up investments for renewable energy, including grants available for public and social ownership of integrated systems, energy efficiency, community microgrids to maximize energy access, and just transition for workers and communities dependent on fossil fuel production.

To demonstrate real climate leadership, the ADB must align all financing and activities—including private sector financing and financial intermediation—with a high probability 1.5 degrees celsius emissions pathway and ensuring meaningful consultation with impacted communities.

“The climate crisis sends us a clear warning: we can’t keep powering our lives with dirty fuels from the last century. It’s time to power our communities with clean, renewable energy. To do so, we need financial institutions like the Asian Development Bank to immediately stop lending money for coal, gas and oil projects. We demand their leadership in this transition by excluding fossil fuels in their investment portfolios

and by putting in place more stringent environmental safeguards in their investment policies,” Chuck Baclagon, regional campaigner at 350.org, Asia said.

Meanwhile, NGO Forum on ADB network believes ADB can do more to minimize damage to the environment and the communities it serves, particularly now that the bank is also updating its 2009 Safeguard Policy Statement (SPS).

In a separate news statement, NGO Forum on ADB noted that in a 2015 report of its Independent Evaluation Department (IED), the bank has not yet delivered its safeguards effectively due to its reliance on consultants.

Further, the IED has also recommended in its 2020 report that Country Safeguard Systems are not ready in the region to deliver on ADB SPS. Therefore, the onus remains on ADB to ensure that its safeguards are provided across all operations.

“The safeguards review should address the problems identified by the IED report in 2015 and 2020 about non-effective safeguards delivery, noncompliance of FI and ignorance of the weaker CSS of the borrowing countries. If the root causes of those problems are not addressed, even the new ‘modernized’ SPS—as the ADB safeguards team loves to say— would face the same problems in the

implementation,” said Titi Soentoro of Aksi!, an organization focused on gender, social and ecological justice in Indonesia.

To ensure vulnerable groups, women, children, Indigenous Peoples, and people with disabilities are not harmed by ADB operations, NGO Forum on ADB said the upcoming ADB SPS review has to ensure that project-affected communities and civil society are meaningfully consulted in the process.

In essence, the ADB SPS is all about the communities and civil- society advocates who support and advocate for them throughout ADB operations.

NGO Forum on ADB Policy Analyst Nadeen Madkour also said there is a need to focus on affected communities. He noted that in 2017, a gas cylinder blast claimed the lives of six Vietnamese workers in the ADBfunded Nam Ngiep 1 Hydropower Project in Borikhan, Lao. Madkour also said a similar incident occurred in Cambodia where a “social and physical cataclysm” followed the resettlement of more than 4,000 families living on the dilapidated railway tracks.

“The bank’s projects particularly those operationalized by the Private SectorOperationsDepartment[PSOD] have been linked to the grave humanrights violation,” Madkour said.

Zambales youth activists, driver freed on ₧66K bail

By Henry Empeño

Correspondent

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ASTILLEJOS,Zambales—Eleven youth activists and a van driver who were arrested here on Labor Day on what was described as trumpedup violation of health protocols regained temporary liberty late Monday after spending three days and two nights in the custodial facility of the police office in this town.

According to the Zambales chapter of the Integrated Bar of the Philippines (IBP), its legal aid team secured an order releasing the so-called Zambales 11 after last-minute coordination with court officials for a bail of P66,000.

Those who were released from detention were identified as JayP Masangkay, 20 years old, of Sto. Rosario, Iba, Zambales; Jezreel Giron, 19, of Amungan, Iba; Alberto Josafat Jr., 21, of Dirita Baloguen, Iba; Justin Cesar Morta, 21, Jake Marc Cabal, 21, and Ma. Alessandra Arpafo, 20, all of Palanginan, Iba; Deneese Rose Velasco, 21, and Rassil Gime, 19, both of Zone 1, Iba; Natalie Luning, 21, of Zone V, Iba; Joshua August Daliposa, 21, of Parel, Botolan; Tracy Cartaño, 19, also of Botolan; and van driver Eidnyl Lareza, 26, and a resident of Bangantalinga, Iba. The local lawyers’ group said it took on the case of the detained activists after receiving a request for assistance

from the IBP’s National Committee on Legal Aid at 10:32 a.m. on Monday.

University of the Philippines (UP) President Danilo Concepcion reportedly asked for IBP’s help on behalf of Luning, who is a student of UP Manila and staffer of the school paper Collegian.

“After learning that the inquest prosecutor issued a resolution charging the Zambales 11 and their van driver for violation of [health safety protocols] and, except for the driver, simple disobedience to person in authority, our committee on legal aid coordinated with the prosecutor, the clerk of court and the parents of Zambales 11 and their friends to ensure that they will be able to post bail today,” IBP Zambales announced on Monday night.

After the necessary information were filed in court at 5:00 p.m., Presiding Judge Ildefonso Recitis of the 4th Municipal Circuit Trial Court in San Marcelino town signed the release order at 6:30 p.m. and the detained youths and their driver finally walked away from detention at 8 p.m., IBP-Zambales added.

The youth activists, who were earlier identified as members of the militant League of Filipino Students (LFS), were reportedly on their way to a Labor Day rally in Angeles City last Saturday when their vehicle, a Toyota Hi-Ace van, was stopped at a police checkpoint here at 7:30 a.m.

The Zambales Provincial Police Of-

THE “Zambales 11” raise their fists in protest before leaving their detention facility Monday night PHOTO FROM IBP-ZAMBALES

fice (ZPPO) said those arrested “clearly violated social/physical distancing” inside the vehicle and “failed to present any identification card and proof of residency.”

It added that except for van driver Lareza, those arrested “deliberately refused [to reveal] their identities” when accosted by the police.

The arrest and detention of the youth activists generated an outcry from students and human-rights

groups who said that it was “yet another attempt to intimidate activists and journalists in their bid to air and write about the masses’ grievances.”

The College Editors Guild of the Philippines said it was “an outright violation of free speech, dissent, and human rights” and that baseless accusations were used to illegally hold the students.

Following the release of the “Zambales 11,” the League of Filipino Students

said it welcomes the development, but “remains wary and certainly vigilant” as it received reports of ongoing online death threats and intimidations to other LFS Zambales members.

“The youth activists inhumanely arrested were also red-tagged by front organizations of the military masquerading as civil groups. Facebook posts infested social-media pages with the release of their mugshots without any form of consent,” it added.

Senate probes fake passport syndicate behind trafficking of minors to Syria

By Butch Fernandez @butchfBM

S

ENATE probers zeroed in Tuesday on fake passports syndicates trafficking underaged Filipino women to the Middle East.

Presid ing over t he Senate inquiry by the Committee on Women and Family Relations, Sen. Risa Hontiveros prodded state probers to dig deeper into the case of three Filipino Muslim girls who were recently trafficked to Syria as minors.

The senator stressed this was “yet another dimension to the breadth and depth of human trafficking in the country” as the three minor v ictims, testif y ing as prime witness, provided details of

first-hand experience at the hands of the syndicate.

Senators were told the victims passports were fabricated to “hide the fact that they were underaged to ensure “a seamless outbound transaction at the airport gates.”

Presenting video clips of the victims, Hontiversos withheld their true names identifying them only as Omaima, Aleah, and Lenlen, noting that Omaima and Aleah were both recruited in 2008 as minors, while Lenlen was recruited more recently in 2018.

The senator added that all the girl victims were able to return to the Philippines only in 2020, recalling they were all maltreated by their employers.

“As if exploiting our women

is not enough,” the lawmaker lamented that “unscrupulous recruiters and human traffickers are also manipulating and abusing our children,” decrying that “this is a disgusting modus that needs to be stopped.”

She deplored that if authorities concerned “cannot solve the problem and allow the perpetrators get away without being held liable for the crime, it is like allowing them to steal the future of their young victims.”

Seeking to enlist wider suppor t , t he sen ator su g gested t he D e p a r t me nt of Fore i g n A f f a i r s ( DFA ) s hou l d “ l o ok into i l lega l schemes and enterprises that tamper with or forge pa sspor ts, i nc lud i ng a modus called “ baklas passport”

in which passport details of the tra f f ic ked young woma n a re those of another person.

She added that “the DFA must also investigate its officials from across the country who may be facilitating the production of fake passports, recalling that “our witness Lenlen went to the DFA in Cotabato to get her biometric passport in 2018.”

‘One-strike policy’

SEN. Joel Villanueva, for his part, urged BI to sustain its “one-strike” policy against immigration officers and personnel involved in the trafficking of Filipinos, especially women, to foreign countries.

“It is important that this policy be sustained,” Villanueva told BI

Commissioner Jaime Morente during the same hearing. “We want them to know they will face the full force of the law.”

In reply to Villanueva, Morente said the policy, which suspends or sanctions BI officers for one offense, is continuing.

He said, however, that the BI has to “seek clearance” from the Department of Justice when suspending or removing immigration officers accused of involvement in irregularities, including the trafficking of Filipino women.

At the same time, Villanueva also sought the Inter-Agency Council Against Trafficking (IACAT) continue maintaining its mandated anti-trafficking in persons database to help authorities pursue cases against illegal

recruiters.

“If we want to prevent human trafficking, we have to make sure that the public is also engaged,” Villanueva said as he urged the IACAT to regularly update its integrated case management system.

The database, which was launched in July 2020, is a provision contained in Republic Act 10364 or the Expanded Anti-Trafficking in Persons Act of 2012.

At the hearing, women who fell victims to trafficking testified that they were able to get past immigrationcounterswiththehelpofcorrupt immigration men.

Villanueva also said the “biggest challenge” facing the BI in preventing trafficking was the involvement of high-ranking officials in the syndicate.

Economy BusinessMirror

A4 Wednesday, May 5, 2021 • Editor: Vittorio V. Vitug

www.businessmirror.com.ph

DA: Some Metro wet markets switch to cheaper frozen pork

By Jasper Emmanuel Y.Arcalas @jearcalas

F

ILIPINO consumers can now avail of frozen pork in select Metro Manila wet markets, which is at least 25 percent cheaper than fresh pork, according to the Department of Agriculture (DA).

The DA price monitoring report showed that frozen pork liempo and

kasim/pigue are now being sold in at least six Metro Manila markets as of Tuesday, May 4, 2021.

DA said frozen pork kasim/pigue are being sold in seven Metro Manila markets: New Las Piñas City Public Market, Guadalupe Public Market, Pamilihang Lungsod ng Muntinlupa, Pasay City Market, Pasig City Mega Market, Commonwealth Market and Mega Q-mart.

DA data showed that frozen pork kasim/pigue are sold from as low as P235 per kilogram to as high as P270 per kilogram, which is at least 30 percent lower than the P340 per kg to P380 per kg price range of its fresh counterpart.

DA data also showed that frozen pork liempo is being sold at as low as P275 per kg to as high as P300 per kg, which is at least 23 percent lower than its fresh counterpart that ranges from P360 per

kg to P400 per kg.

DA said frozen pork liempo are available in New Las Piñas City Public Market, Pamilihang Lungsod ng Muntinlupa, Pasay City Market, Pasig City Mega Market, Commonwealth Market and Mega Q-mart.

The government has cut tariffs on pork imports in its bid to pulldown rising domestic prices through an influx of cheaper pork products from abroad.

PresidentDuterteissuedlastmonth

Executive Order 128 that cut pork tariffs to 5 percent for in-quota imports andto15percentforout-quotaimports for the first three months of the measure, or until July 8. Afterwards, both tariff rates would increase by 5 percent for the next 9 months before it reverts to its 30 percent (in-quota) and 40 (outquota) percent levels.

Backchannel negotiations between the Executive and Congress on a possible compromise over the rate by which pork tariffs will

be cut, and the level by which the minimum access volume for pork importations would be increased are currently ongoing.

Agriculture Secretary William D. Dar earlier told the BusinessMirror that the government’s goal is to pull-down prevailing pork prices below P300 per kilogram through their twin proposal of reducing tariffs and hiking the minimum access volume for pork imports to 400,000 metric tons.

House Speaker vows plenary OK of Bayanihan 3

By Jovee Marie N. Dela Cruz @joveemarie

A

S talks between the Department of Finance (DOF) and lawmakers on funding sources for a third Covid-19 relief package continue to progress, Speaker Lord Allan Velasco on Tuesday vowed that the House will hasten the plenary approval of the proposed Bayanihan 3 law once it resumes session on May 17.

Velasco assured the public that the lower chamber is constantly communicating with the DOF as to the funding sources for Bayanihan 3 or the Bayanihan to Arise As One Act. “Just a few more discussions with DOF and we could pass this already,” said Velasco.

“As soon as we get back on May 17, we will fast-track the approval of Bayanihan 3,” the House leader said.

Velasco issued the statement after three House committees approved during the break the substitute bill to several Bayanihan 3 measures, including House Bill 8628, which he and Marikina City Second District Rep. Stella Luz Quimbo had filed.

The substitute bill only needs the approval of the House Committee on Appropriations before it can be reported to the plenary for approval on second and third readings.

The House Committees on Economic Affairs, on Social Services and on Ways and Means recently approved a P405.6-billion Bayanihan 3, which includes two rounds

of cash aid amounting to P1,000 per Filipino.

The cash aid, totaling P216 billion, would be given to all 108 million Filipinos regardless of social status.

To raise funds for Bayanihan 3, Congress seeks to authorize the Bangko Sentral ng Pilipinas to make additional advances with or without interest to the national government to finance expenditures authorized by law to address and respond to the Covid-19 pandemic.

It also wants to increase from 50 percent to 75 percent the mandatory dividend remittances by governmentowned and -controlled corporations (GOCCs) and to grant the President the power to withdraw capital from overcapitalized GOCCs. The proposal to raise the dividend remittances by GOCCs was supported by Finance Secretary Carlos Dominguez III. In pushing for Bayanihan 3, Velasco said that while the two previous Bayanihan laws have increased the government’s initial capacity to respond to the pandemic, these were “not sufficient for the genuine economic recovery of the country.”

Under the substitute bill, around P12 billion shall be also appropriated for assistance for households in crisis situations under the Assistance to Individuals in Crisis Situation (AICS) program of the Depar tment of Socia l Welfare and Development (DSWD). Some P12- billion standby fund shall be appropriated for Phase 2 and P6-

Just a few more discussions with DOF and we could pass this already.

BM

House Speaker Lord Allan Velasco

billion standby fund for Phase 3 of the AICS program.

The Small Business Wage Subsidy (SBWS) program shall be continued and expanded with a direct funding of P8 billion, and standby funds worth P8 billion for Phase 2 and P4 billion for Phase 3 to assist micro, small, and medium enterprises (MSMEs).

To provide temporary employment to displaced workers, around P10 billion shall be appropriated for the implementation of the Tulong Panghanapbuhay sa Ating Displaced/ Disadvantaged Workers (TUPAD), Covid-19 Adjustment Measures Program (CAMP), and Abot Kamay ang Pagtulong (AKAP) Program, while P10 billion shall be appropriated as standby funds for Phase 2 and P5 billion for Phase 3.

Assistance to the agri-fishery sector will receive a total of P30 billion worth of standby funds to finance programs and interventions toward food

security and farmer income security and welfare.

The bill also allocates P3 billion for medical assistance for indigent patients, and standby funds worth P3 billion each for Phases 2 and 3.

Also, a total of P54.6 billion shall be allocated to the Pension and Gratuity Fund for retired military and the police, while the amount of P5.6 billion shall be appropriated to assist the Department of Education in the implementation of its digital education, information technology, and digital infrastructure and alternative learning modalities as part of pandemic response and transition to a new normal.

The Bayanihan 3 also said standby funds worth P5 billion each shall be allocated for the implementation of the Masustansyang Pagkain para sa Batang Pilipino Act and Kalusugan at Nutrisyon ng Mag-Nanay Act, both of which are aimed at providing national nutrition.

DBM: ₧2.9B of ₧25-B fund for disasters released The budget department issued the statement after the Philippine Daily Inquirer reported that a total of P25.14 billion calamity funds from the 2020 and 2021 national budgets remain unutilized as of March.

Aside from specific purposes such as the MRRRP and CARED, the DBM said the appropriations under the NDRRM Program may be used for disaster risk reduction or mitigation, prevention and preparedness activities, as well as reconstruction, reha-

bilitation, repair, aid, relief and other works or services, in connection with the occurrence of natural or humaninduced calamities, epidemics as declared by the DOH, crises resulting from armed conflicts, insurgency, terrorism, and other catastrophes occurring in the current or two (2) preceding years.

Nonetheless, it assured the public that the NDRRMF “will be tapped whenever there are additional funding requirements to

respond to the Covid-19 pandemic which may not be covered by all available funding sources.”

However, it said the “sufficient funds are made available to Departments and Agencies for programs and projects in response to the Covid-19 pandemic,” especially given the extension of validity of appropriations under 2020 national budget and the Bayanihan to Recover as One Act. “Aside from their regular appro-

continued from a10

priations under the FY 2021 GAA and the continuing FY 2020 GAA, the total amount of P189.442 billion in allotments pursuant to the Bayanihan to Recover as One Act [Bayanihan II] may still be utilized until June 30, 2021,” it said. “This is also on top of the P60.605-billion additional allotments released to the Department of Health for foreign-assisted projects, particularly on the procurement of vaccines and other essential equipment and supplies.”

Locsin says sorry to Wang, but finds ally in Sen. Recto However, Locsin clarified in a tweet also on Tuesday that he did not apologize to Ambassador Huang Xilian but to Chinese State Counselor and Foreign Minister Wang.

Nonetheless, Roque pointed out that Locsin voluntarily made the apology and that the President did not ask him to do so.

Roque said Locsin’s earlier tweet does not reflect the position of the Philippine government and that the President does not tolerate cursing in the field of diplomacy.

“I am clarifying, upon express orders of the President, that this is not the policy of the Philippines. Whatever differences we have with China on the West Philippine Sea, this will not define our bilateral relations, and will not stand in the way of our cooperation with China on pandemic response, vaccine cooperation and post-pandemic recovery,” Roque said, partly in Filipino.

On Monday, Locsin tweeted: “China, my friend, how politely can I put it? Let me see… O…GET THE F… OUT.

What are you doing to our friendship? You. Not us. We’re trying. You. You’re like an ugly oaf forcing your attentions on a handsome guy who wants to be a friend; not to father a Chinese province …”

“What is it so hard to understand about Duterte’s UN declaration that the Arbitral Award made all maritime features Philippines; no one else’s?”

Locsin asked in another tweet.

Some netizens found his tweets unsuited to his role as the country’s top envoy.

Ally in Recto

ON Tuesday, however, Locsin found an ally in Senate President Pro Tempore Ralph Recto, who described the country’s top envoy as “the knight of the King’s English,” who “can make the enemy lose face before the entire world without us losing a single man.”

Locsin, son and namesake of the pioneering Free Press publisher Teodoro Locsin Sr., was a journalist-lawyer who became presidential legal counsel and speechwriter for many years.

“While we may not have missiles to launch, we possess something more potent—Locsin missives, against which no shield has been proven effective,” Sen. Recto said in a press statement on Tuesday.

He added, “In an era when diplomacy is practiced by those who ‘speak softly and carry a selfie stick,’ it pays to have a foreign affairs secretary who is brave and brilliant because it will allow our country to punch above its weight.”

Recto defended Locsin’s colorful language; “Those who are saying that he should have couched his statements in diplomatese are missing the point. This is the knight of the King’s English.”

Recto said Locsin had to resort to vulgar language because “such a tactful way has not worked with a nation who has brazenly violated our sovereignty.”

Recto said, “So it is time to convey our dismay in a language they can understand,” adding, “And we have that message delivered by our best weapon in a shouting war.”

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Daily protests

THE Philippines earlier fired off another diplomatic protest against China, objecting to “the shadowing, blocking, dangerous maneuver, and radio challenges by the Chinese Coast Guard [CCG] against the Philippine Coast Guard [PCG] vessels conducting maritime patrols and training exercises in the vicinity of Bajo de Masinloc on April 24 and 25, 2021.”

The Department of Foreign Affairs (DFA) also protested on Monday “the incessant, illegal, prolonged, and increasing presence of Chinese fishing vessels and maritime militia vessels in Philippine maritime zones.”

The award handed down by the Permanent Court of Arbitration in The Hague in 2016 invalidates China’s historic and expansive claim to the South China Sea, defined by a 9-dash line covering almost the entirety of the 3.5 million square miles of strategic waters, where an estimated $5 billion worth of trade sails through annually. With Bernadette D. Nicolas

News BusinessMirror

www.businessmirror.com.ph

Wednesday, May 5, 2021 A5

Govt engaged in truth tagging, not red-tagging–OSG exec

By Joel R. San Juan @jrsanjuan1573

T

HE Supreme Court on Tuesday held its 6th argument on the 37 petitions seeking to declare as unconstitutional the controversial Anti-Terrorism Act (ATA) of 2020.

During the oral argument conducted virtually due to pandemic curbs, the magistrates continued their interpellation of the arguments offered by representatives of the Office of the Solicitor General (OSG) in seeking the dismissal of the petitioners.

Associate Justice Jhosep Lopez grilled Assistant Solicitor Marissa de la Cruz-Galandines on Section 29 of the ATA, which allows enforcement agents or military personnel, who have been duly authorized in writing by the Anti-Terrorism Council (ATC), to arrest persons suspected of committing terrorism or any of the acts defined and penalized under the ATA without the need for a warrant issued by the court.

“Suspected, does this mean the quantum of evidence enough to take a person into custody is only based in suspicion and not on probable cause as required under Rule 113 on warrantless arrest?” Lopez asked.

Galandines, however, stressed that the written order from the ATC would only be for the continued detention of the suspect who was arrested following a valid warrant of arrest.

“We did look into the intent and it was very clear from the interpellation of Senator Panfilo Lacson [proponent of the law] that the intention of the law was for the ATC to issue a written order for the continued detention and not the issuance of an arrest order,” Galandines explained.

Lopez also questioned Galandines on the power of the ATC to authorize the detention of suspected terrorists for as long as 24 days.

Lopez noted that Article 7, Section 18 of the Constitution limits the period of detention without filing any charges to only three days and only in

two conditions—suspension of the privilege of the writ of habeas corpus and in cases of rebellion and invasion when public safety so requires.

“What makes you think that under ordinary times, you can detain a person to as many as 24 days when the Constitution limits it to three days only at maximum during suspension of the privilege of the writ of habeas corpus?” Lopez asked.

“Under extraordinary circumstances, the maximum is only three days and yet under ordinary times like what we are having right now, no emergency, no rebellion or anything, no invasion and yet the maximum period of detention is 24 days,” he pointed out.

Galandines argued that Section 18, Article 17 came about because of fear that martial law will again be proclaimed by a sitting President.

“This is actually an answer to the fear brought about by the previous government prior to the presidency of [the late] President Corazon Aquino,” she noted.

She added that terrorism has evolved from 1987 to the present.

Seemingly unconvinced by Galandines’s argument, Lopez urged the government lawyer to look into the transcript of the deliberations of the framers of the Constitution to determine their real intent in including the said provision in the Constitution.

Lopez also grilled Galandines on the constitutionality of Section 25 of the ATC, which allows the designation of an individual or organization as a terrorist or engaged in terrorism.

The magistrates noted that Galandines stated in the previous oral argument that the designation is merely for purposes of applying for a freeze order against suspected terrorist organizations or individuals.

But Lopez questioned the need to designate a person or a group a terrorist in order to file a freeze order.

“During my time as an associate justice of the Court of Appeals, we have AMLAC [Anti-Money Launder-

ing Council] cases against perhaps terrorists, there was never any kind of designation. You can file it with the Court of Appeals and get a freeze order without having to designate anybody or any organization as terrorist,” Lopez said.

“Is designation by itself a penalty because in the eyes of the law you are already designated a terrorist.

In fact, in the eyes of your family, or your friends, of your relatives, your neighbors? In fact, of the entire country, know and they will know that you are already a designated terrorist. So don’t you think that this…need not be put into the law?” the magistrates asked.

In defending the provision on designation, Galandines stressed that it is a prerogative measure of the ATC and that “the process of designation does not amount to indictment or conviction.”

Lopez insisted that designation as a terrorist itself is already tantamount to a penalty.

On the other hand, Associate Justice Ricardo Rosario brought the issue of red-tagging of organizers of community pantries during the oral argument.

Rosario noted that the National Task Force to End Local Communist Armed Conflict recently red-tagged the organizer of Maginhawa community pantry organizer Patricia Non without sufficient evidence.

“How will the government ensure that the ATA will unduly and unlawfully identify any person as a suspect of terrorism merely on the basis of suspicion?” Rosario asked Galandines.

“Does this incident support the petitioners’ allegation of future surveillance and red-tagging?” he added.

Galandines, however, assured the Court the government is not involved in red-tagging and that the term was coined by leftists.

“The government is firm that what it does is the submission of the government is that what it does is truth tagging and not red-tagging,” Galandines said.

Bello issues clarification on mandatory Covid-19 jabs for HSWs in Hong Kong

By Bernadette D. Nicolas @BNicolasBM

T

HE Department of Labor and Employment (DOLE) on Tuesday clarified that the agency is supporting Hong Kong’s policy to impose the mandatory Covid-19 vaccination of overseas Filipino workers “as long as it’s free of any charge.”

Labor Secretary Silvestre H. Bello III said in a broadcast interview that he has no opposition the policy to require OFWs to be inoculated, saying that Hong Kong authorities are not singling out OFWs. “Sa tingin ko okay naman ’yung [In my view, I think the] mandatory vaccination kasi libre[it’s free of charge]. Sayang [We should not miss the opportunity],” Bello said, adding that he doesn’t think the move is discriminatory since the mandatory vaccination applies to all workers and not just OFWs. “Lahat naman workers e [workers

of all nationalities will be covered].

Di naman limited sa [it’s not limited to our] HSWs [household service workers] natin,” the labor chief said.

Hong Kong is currently one of the top destination for OFWs, especially those who work as HSWs. However, Bello said, the Consulate General and Labor Attaché of the Philippines to Hong Kong expressed concern that they were not consulted on the new policy.

“Ang medyo inano lang ng con gen [It was a matter taken up by the consulate general and labor attaché] ay di man lang dumaan sa consultation [the issue may not have undergone prior consultation]. I can understand their feeling naman na dapat nga tinimbre naman [there should have been prior notice],” Bello explained.

Despite this, he said, there is no need for the Philippines to discuss the matter with Hong Kong authori-

ties given the suspension of OFW deployment to the country, which is currently under lockdown.

“Hindi na siguro kasi una [We could hold it in abeyance because of a prevailing] lockdown naman, wala din [there’s no] deployment. Kung magdeploy na tayo [if we have to deploy], kailangan na mag [we may need to impose] quarantine [rules], di natin kaya dahil wala pa tayong [which we can’t afford to do since there’s no available] vaccine. So [we are] compelled…[to] suspend deployment,” he said.

Aside from DOLE, Malacañ a ng ea rl ier sa id t he pol ic y should be applied not only to OFWs but also to other foreign nationalities as well.

Last week, Hong Kong officials said they are planning to start the mandatory inoculation of HSWs, who are mostly from the Philippines and Indonesia.

Ciac: Dito entry a ‘welcome respite to interrupted businesses’ in Clark

By Lorenz S. Marasigan @lorenzmarasigan

T

HE Clark International Airport Corp. (Ciac) sees the infrastructure investments of Dito Telecommunity Corp. in Clark as a “welcome respite to interrupted businesses.”

According to Ciac President Aaron Aquino, the data center of Dito in Clark Global City will help provide a boost to the local economy, as it has the potential to attract investments.

“The government needs to keep the economy running even as we

battle the pandemic and Dito’s ideal investment here at the strategic and disaster-resilient Clark Global City has a cascading impact on driving employment and further attracting multiple local and foreign investments,” Aquino said.

Clark Global City, a mixed-use business district located within the Ciac-owned Clark Civil Aviation Complex. The aviation complex is also home to the privately run Clark International Airport, transport hubs, and several locators in cargo and aviation-related businesses.

“There’s also obviously a sharp growth in the consumption of

communications ser vices and Dito showcases the importance of always-on connectivity, and of job generation that will stir up an otherwise disrupted economy,” Aquino said.

Dito is spending roughly P20.5 billion to build a data center in Clark. It also plans to hire about 800 employees during its first year of operations, and push this number to 4,500 by its fifth year.

The data center is inspired by Google Campus. It will also house a serve-call center, a regional center, and a research and development facility.

The Court has yet to hear legal opinions of amici curiae former Chief Justice Reynato Puno and former SC

Associate Justice and Solicitor General Francis Jardeleza on the issue.

Puno and Jardeleza have been des-

ignated by the Court as amici curiae (friends of the court) to give their expert opinion on the matter.

A6

The World BusinessMirror

Wednesday, May 5, 2021

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

restrictions easing in US, ‘Horrible’ weeks ahead as India’s Virus Europe amid disaster in India coronavirus catastrophe worsens T

N

EW DELHI—Covid-19 infections and deaths are mounting with alarming speed in India with no end in sight to the crisis and a top expert warning that the coming weeks in the country of nearly 1.4 billion people will be “horrible.”

India’s official count of coronavirus cases surpassed 20 million on Tuesday, nearly doubling in the past three months, while deaths officially have passed 220,000. Staggering as those numbers are, the true figures are believed to be far higher, the undercount an apparent reflection of the troubles in the health care system.

The country has witnessed scenes of people dying outside overwhelmed hospitals and funeral pyres lighting up the night sky.

Infections have surged in India since February in a disastrous turn blamed on more contagious variants of the virus as well as government decisions to allow massive crowds to gather for Hindu religious festivals and political rallies before state elections.

India’s top health official, Rajesh Bhushan, refused to speculate last month as to why authorities weren’t better prepared. But the cost is clear: People are dying because of shortages of

bottled oxygen and hospital beds or because they couldn’t get a Covid-19 test.

India’s official average of newly confirmed cases per day has soared from over 65,000 on April 1 to about 370,000, and deaths per day have officially gone from over 300 to more than 3,000.

On Tuesday, the health ministry reported 357,229 new cases in the past 24 hours and 3,449 deaths from Covid-19.

Dr. Ashish Jha, dean of Brown University’s School of Public Health in the US, said he is concerned that Indian policymakers he has been in contact with believe things will improve in the next few days.

“I’ve been...trying to say to them, `If everything goes very well, things will be horrible for the next several weeks.

And it may be much longer,’” he said.

Jha said the focus needs to be on “classic” public health measures: targeted shutdowns, more testing, universal mask-wearing and avoiding large gatherings.

“That is what’s going to break the back of this surge,” he said.

The death and infection figures are considered unreliable because testing is patchy and reporting incomplete. For example, government guidelines ask Indian states to include suspected Covid-19 cases when recording deaths from the outbreak, but many do not do so.

T he US, w it h one-four t h t he population of India, has recorded more than 2 1/2 times as many deaths, at around 580,000.

Municipal records for this past Sunday show 1,680 dead in the Indian capital were treated according to the procedures for handing the bodies of those infected with Covid-19. But in the same 24-hour period, only 407 deaths were added to the official toll from New Delhi.

The New Delhi High Court announced it will start punishing government officials if supplies of oxygen allocated to hospitals are not delivered.

“Enough is enough,” it said.

The deaths reflect the fragility of India’s health system. Prime Minister Narendra Modi’s party has countered criticism by pointing out that the underfunding of health care has been chronic.

But this was all the more reason for authorities to use the several months when cases in India declined to shore up the system, said Dr. Vineeta Bal of the Indian Institute of Science Education and Research.

“Only a patchwork improvement

would’ve been possible,” she said. But the country “didn’t even do that.”

Now authorities are scrambling to make up for lost time. Beds are being added in hospitals, more tests are being done, oxygen is being sent from one corner of the country to another, and manufacturing of the few drugs effective against Covid-19 is being scaled up.

The challenges are steep in states where elections were held and unmasked crowds probably worsened the spread of the virus. The average number of daily infections in West Bengal state has increased by a multiple of 32 to over 17,000 since the balloting began.

“It’s a terrifying crisis,” said Dr. Punyabrata Goon, convener of the West Bengal Doctors’ Forum.

Goon added that the state also needs to hasten immunizations.

But the world ’s largest maker of vaccines is short of shots—the result of lag ging manufacturing and raw material shortages.

Experts are also worried the prices being charged for shots will make it harder for the poor to get vaccinated.

On Monday, opposition parties urged the government to make vaccinations free to all Indians.

India is vaccinating about 2.1 million people daily, or around 0.15 percent of its population.

“This is not going to end very soon,” said Dr. Ravi Gupta, a virus expert at the University of Cambridge in England.

“And really...the soul of the country is at risk in a way.” AP

Myanmar violence could lead to civil war–China’s UN envoy

U

NITED NATIONS—China’s UN ambassador on Monday urged stronger diplomatic efforts to resolve the confrontation in Myanmar since the Feb. 1 military coup, warning that further violence could lead to a chaotic situation “and even a civil war.”

Zhang Jun also warned that “any wrong handling” might lead to further tension in Myanmar.

The UN Security Council on Friday strongly backed calls by Southeast Asian nations for an immediate cessation of violence and talks as a first step toward a solution following the military coup in Myanmar that ousted civilian leader Aung San Suu Kyi and her party and reversed years of slow progress toward democracy.

The council again demanded the restoration of democracy and the release of all detainees including Suu Kyi and condemned the use of violence against peaceful protesters and the deaths of hundreds of civilians.

Zhang, who described Myanmar as “a friendly neighbor,” strongly backed diplomatic efforts by the Association of Southeast Asian Nations known

as Asean and by UN special envoy for Myanmar Christine Schraner Burgener, and expressed hope they would produce results. He said “China is not in favor of imposing sanctions.”

“We should really be creating a more favorable environment for bringing the country back to normal and finding a political solution through dialogues among the relevant political parties within the constitutional and legal framework,” he said.

Myanmar for five decades had languished under strict military rule that led to international isolation and sanctions. As the generals loosened their grip, culminating in Suu Kyi’s rise to leadership in 2015 elections, the international community responded by lifting most sanctions and pouring investment into the country. The coup took place following November elections, which Suu Kyi’s party won overwhelmingly and the military contends was marred by fraud.

“It’s mainly an issue relating to the difference on the election,” Zhang said. “The political parties should be able to find a solution on that. So that’s

Colombian finance minister resigns amid deadly protests

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OGOTA, Colombia—Colombia’s finance minister resigned on Monday following five days of protests over a tax reform proposal that left at least 17 dead.

Alberto Carrasquilla’s resignation comes a day after President Iván Duque withdrew the tax plan from Congress in response to the protests, which have included riots and violent clashes with police.

According to Colombia’s Human Rights Ombudsman, 16 protesters have been killed since Wednesday as well as a policeman who was stabbed to death.

Carrasquilla had designed the tax reform, which was aimed at raising $6.7 billion for Colombia’s government as it struggles to pay debts while attempting to provide poor families with subsidies to mitigate the pandemic’s impact.

The finance minister’s plan included a 19 percent sales tax on gasoline, as well as an effort to expand the country’s tax base by charging income taxes to people making $700 a month or more.

Carrasquilla had also proposed a 19 percent sales tax on utilities in middle-class neighborhoods, and a wealth tax for individuals with a net worth of $1.3 million or more.

The government said it needs the money to pay for healthcare improvements and to continue implementing a basic income scheme that started during the pandemic.

But the tax plan was rejected by most political parties—currently preparing for elections in 2021—and also angered unions, student groups and small business leaders whose incomes have been affected by the pandemic. Protesters asked the government to raise corporate taxes and decrease military spending instead of taxing the middle class.

Sergio Guzmán, a political analyst in Bogota, said Carrasquilla’s resignation could “embolden” protesters to stay in the streets until the government meets other demands like police reform or stopping plans to fumigate illegal coca crops with a chemical that could cause cancer. He pointed out that Colombia’s president now has few options but to start negotiations over taxes with different political and social groups.

“The problem is that Duque has little credibility now,” Guzmán said.

Colombia’s president on Sunday encouraged politicians to come together and design another tax plan.

“Withdrawing this tax reform or not is not what should be debated,” Duque said in a nationally televised speech. “The real debate is how to guarantee the continuation of social programs.” AP

why China prefers...more diplomatic efforts.”

“That’s why China is working very closely with the relevant parties urging them really to refrain from going extreme, avoiding violence, avoiding casualties, and try to find a solution with dialogue. That’s why the council is also now giving full support to the diplomatic efforts of Asean,” he said.

Zhang was asked whether China was concerned that Myanmar could descend into civil war, given that its military is fighting the Kachin and Karen ethnic minorities, which maintain their own armed forces, while also confronting pro-democracy protesters—amid reports that civilians, mainly students, are now receiving training in the use of weapons in ethnic areas.

“We do have similar concerns,” Zhang said.

“We do believe that with diplomatic efforts we can avoid the further escalation of the tension.”

“With fur ther escalation of the tension, there will be more confrontation, and with more confrontation there will be more violence, and with more violence there will be more casualties, and

then we may go further down the wrong direction,” he warned. “It may also mean a chaotic situation in Myanmar and even a civil war.”

Zhang said China is also very concerned about the humanitarian impact of the crisis, citing UN envoy Schraner Burgener who pointed to more poor people losing jobs, civil servants refusing to work to protest the junta, and a brewing crisis of families in and around the main city Yangon “pushed to the edge” for food, going into debt and trying to survive.

In her briefing to the council Friday, obtained

by The Associated Press, she also cited a World Food Program report that the combination of existing poverty, the Covid-19 pandemic and the political crisis have led to a sharp rise in “hunger and desperation,” and that within six months up to 3.4 million more people will suffer from hunger, particularly those in urban areas.

In again urging a diplomatic solution, Zhang warned that with further deterioration “definitely a humanitarian disaster or crisis will be inevitable so we do need to try our best to avoid that.” AP

Top US diplomat to join China UN event on global cooperation

U

NITED NATIONS—US Secretary of State Antony Blinken will participate in a high-level U.N. Security Council meeting on Friday chaired by China’s foreign minister on strengthening global cooperation and the key role of the United Nations in harnessing international action to tackle the world’s many conflicts and crises, China’s U.N. ambassador said Monday.

It will be the first encounter, though virtually, for Blinken and China’s top diplomat Wang Yi. China’s U.N. envoy Zhang Jun told a news conference that Friday’s meeting is “the first priority” of China’s Security Council presidency this month, and will be attended not only by Blinken but “quite a number” of other foreign ministers from the 15 nations on the U.N.’s most powerful body.

Last week, US President Joe Biden stressed to Congress the critical importance of the United States keeping up with China, which his administration sees as a strategic challenger, and proving that American democracy can still work and maintain primacy in the world.

Friday’s council session also comes in the wake of a contentious meeting in Alaska on March 18 between Blinken and Chinese Communist Party foreign affairs chief Yang Jiechi, who took aim at each other’s country’s sharply differed policies.

It was the first face-to-face US-China meeting of the Biden administration.

Blinken said the administration is united with its allies in pushing back against China’s increasing authoritarianism and assertiveness at home and abroad including its actions in Hong Kong and against Taiwan, the Uighur minority in Xinjiang and in the South China Sea. Yang responded angrily, demanding that the US stop pushing its own version of democracy at a time when America has been roiled by domestic discontent and accusing Washington of hypocrisy for criticizing Beijing on human rights and other issues.

China’s Zhang said Monday: “It’s becoming more and more evident that in tackling the current global crises, multilateralism represents the right way out.”

He recalled the declaration adopted last September by world leaders commemorating the 75th anniversary of the United Nations which says that following the Covid-19 pandemic: “Multilateralism is not an option but a necessity as we build back better for a more equal, more resilient, and more sustainable world. The United Nations must be at the center of our efforts.”

At Friday’s meeting, he said, “We do hope...members will have the opportunity to reaffirm their support to multilateralism, to practice real multilateralism, and then to give stronger support to the role of the United Nations and to defend the international system with the United Nations sitting at the center, and also to support international order based on international law.” AP

ALLAHASSEE, Fla. — Air travel in the US hit its highest mark since Covid-19 took hold more than 13 months ago, while European Union officials are proposing to ease restrictions on visitors to the continent as the vaccine sends new cases and deaths tumbling in more affluent countries.

The improving picture in many places contrasts with the worsening disaster in India.

In the US, the average number of new cases per day fell below 50,000 for the first time since October.

And nearly 1.67 million people were screened at US airport checkpoints on Sunday, according to the Transportation Security Administration, the highest number since mid-March of last year.

Florida Gov. Ron DeSantis signed legislation giving him sweeping powers to invalidate local emergency measures put in place during the outbreak. While the law doesn’t go into effect until July, the Republican governor said he will issue an executive order to more quickly get rid of local mask mandates.

“I think this creates a structure that’s going to be a little bit more respectful, I think, of people’s businesses, jobs, schools and personal freedom,” he said.

Las Vegas is bustling again after casino capacity limits were raised Saturday to 80 percent and person-to-person distancing was dropped to 3 feet (0.9 meters). New York Gov. Andrew Cuomo announced that New York City’s subways will begin running all night again and capacity restrictions on most businesses will end statewide in mid-May. And Los Angeles County reported no coronavirus deaths on Sunday and Monday, some of which may be attributable to a lag in reporting but was nevertheless a hopeful sign that could move the county to allow an increase in capacity at events and venues, and indoor-service at bars.

EU officials also announced a proposal Monday to relax restrictions on travel to the 27-nation bloc this summer, though the final decision is up to its member countries.

“Time to revive EU tourism industry and for crossborder friendships to rekindle—safely,” European Commission President Ursula von der Leyen said. “We propose to welcome again vaccinated visitors and those from countries with a good health situation.”

In Greece, restaurants and cafes reopened their terraces on Monday after six months of shutdown,

with customers flocking to soak up the sunshine. In France, high schools reopened and a ban on domestic travel was lifted.

The once hard-hit Czech Republic, where cases are now declining, announced it will allow people to remove face coverings at all outdoor spaces starting next Monday if they keep their distance from others.

But with more-contagious variants taking hold, efforts are underway to boost vaccination efforts, which have begun to lag. The average number of doses given per day fell 27 percent from a high of 3.26 million on April 11 to 2.37 million last Tuesday, according to the Centers for Disease Control and Prevention.

In Detroit, teams from the city’s health depar tment have knocked on nearly 5,000 doors since the weekend to persuade people to get immunized. And Massachusetts’ governor announced plans to close four of seven mass vaccination sites by the end of June in favor of a more targeted approach.

“My plea to everyone: Get vaccinated now, please,” President Joe Biden said in Norfolk, Virginia.

He stressed that he has worked hard to make sure there are more than 600 million doses of vaccine—enough for all Americans to get both doses.

“We’re going to increase that number across the board as well so we can also be helping other nations once we take care of all Americans,” the president said.

Brazil, once the epicenter of the pandemic, has been overtaken by a surge in India that has overrun crematoriums and made it clear the pandemic is far from over.

As the US and other countries rushed in aid, India reported nearly 370,000 new cases and more than 3,400 deaths Monday—numbers that experts believe are vast undercounts because of a widespread lack of testing and incomplete reporting.

In Germany, Bavarian officials canceled Oktoberfest for a second year in a row because of the safety risks. The beer-drinking festivities typically attract about 6 million visitors from around the world.

And in Italy, medical experts and politicians expressed concern about a possible spike in infections after tens of thousands of jubilant soccer fans converged on Milan’s main square Sunday to celebrate Inter Milan’s league title. AP

Bill and Melinda Gates announce divorce with $146 billion at stake

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ill and Melinda Gates, who for decades have overseen one of history’s greatest fortunes and philanthropic operations, said they plan to divorce.

The announcement on Monday that the couple is splitting after 27 years of marriage has the power to ripple through the technology industry, a vast portfolio of business and real estate holdings and into the realms of global health, climate change policy and social issues including equality for women.

The pair, who command an estimated $146 billion, according to the Bloomberg Billionaires Index, made no public hint of their financial plans, though they emphasized that they will cooperate on continuing their philanthropy.

“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the two said in a brief statement posted on Twitter. “We have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.”

Bill Gates, the 65-year-old co-founder of Microsoft Corp., ranks as the world’s fourth-richest person. Melinda Gates, 56, is a former Microsoft manager who’s gained international prominence co-running the Bill & Melinda Gates Foundation. It’s already given away more than $50 billion.

They will remain co-chairs and trustees of the foundation, a spokesperson for the organization wrote in an e-mailed statement.

“No changes to their roles or the organization are planned,” according to the statement. “They will continue to work together to shape and approve foundation strategies, advocate for the foundation’s issues, and set the organization’s overall direction.”

The couple filed for divorce in King County on Monday, an online search of court dockets shows.

They have a separation agreement, according to a copy of a divorce petition posted by the website TMZ, which doesn’t elaborate on the terms. It calls their marriage “irretrievably broken.”

It’s the second bombshell divorce among the uppermost ranks of the world’s richest people in recent years, following the 2019 separation announcement of Jeff Bezos and MacKenzie Scott.

That split, which divided the couple’s stake in Amazon.com Inc., immediately made MacKenzie one of the world’s richest people. In the months that followed, she became one of the most influential philanthropists in the world, giving away billions of dollars to often overlooked causes among billionaire donors.

But for Bill and Melinda Gates, separating assets potentially poses a bigger challenge than dividing the Bezos fortune, which was largely concentrated in Amazon stock.

Bill Gates’s net worth originated with Microsoft but shares of the software-maker now probably make up less than 20 percent of his assets. He’s shifted much of his stake into the Bill & Melinda Gates Foundation over the years and his exact stake hasn’t been disclosed since he left Microsoft’s board last year.

Gates’s biggest asset is Cascade Investment, a holding company he created with the proceeds of Microsoft stock sales and dividends that’s run by Michael Larson. Through Cascade, Gates has interests in real estate, energy and hospitality as well as stakes in dozens of public companies, including Canadian National Railway and Deere & Co.

Monica Mazzei, a divorce attorney and a partner at Sideman & Bancroft LLP in San Francisco, said the big question concerning the couple’s foundation and family office is to what extent they plan on working together going forward.

“Even in the most amicable divorces I’ve seen, the preference has been to split the foundation in two so that there’s more autonomy and less intermingling,” she said. The same principle applies to family offices, where the investments could be divvied up into two separate pots.

`Challenging stretch’

Washington law may offer some clues to how they divide their assets. As a community property state, anything acquired during a marriage is considered equally owned by both partners, but that doesn’t necessarily mean the fortune would be split in half.

“It is not a mandatory 50-50,” said Janet George, a family lawyer in Washington with the firm McKinley Irvin. “The courts can award more or less, depending on what is just and equitable.”The public might never find out how they split the fortune, because it can be hidden behind private contracts, she said.

Washington mandates a 90-day cooling off period from the day a couple initially files for divorce before the process can be finalized by a judge. The couple’s divorce filing—listing Melinda as the petitioner and Bill as joining, with both of them signing—asks the court to dissolve their marriage on a date noted in their separation agreement.

“It’s been a challenging stretch of time for our whole family,” their eldest daughter, Jennifer, wrote on Instagram.

Their youngest child is 18.

Becoming philanthropists

The pair met in New York in the 1980s, early into Melinda’s time at Microsoft.

When deciding whether to marry, Bill made a proand-con list on a whiteboard—Melinda related how she walked into his bedroom to find him tabulating various factors in the Netflix documentary series “Inside Bill’s Brain.”

The couple’s philanthropy has always been deeply rooted in their relationship and marriage.

The day before they wed in Hawaii, Bill’s mother, Mary, who had been trying to convince him to dramatically increase his charity, gave Melinda a letter that closed with the words “From those to whom much is given, much is expected.” Mary Gates died several months later.

But it was on a trip to Africa during their engagement that the couple decided they would become serious philanthropists.

“We fell in love with everything we saw but it’s really not at all trite to say that we really fell in love with the people,” Melinda said at a Salesforce event in 2016. “It just started us on this series of questions of sort of saying to ourselves, ‘What is going on here?’”

Later on in the trip, the couple filled out a marriage questionnaire to make sure they had the same values. That’s when they decided “the vast majority of resources from Microsoft would go back to society,” Melinda said. “It was an easy discussion.

We just thought it would be later in our lives when we got to do it.” Bloomberg News

BusinessMirror

www.businessmirror.com.ph

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ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City 6.

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CHINESE CUSTOMER SERVICE

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FOREIGN NATIONAL / NATIONALITY

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

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CXLOYALTY PHILIPPINES, INC. 10f W Fifth Building 32nd St. Cor. 5th Avenue Bonifacio Global City, Fort Bonifacio Taguig City 30.

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CHINESE SPEAKING DATA ENTRY CLERK

ECHOTECH SERVICES INC. 18/f Philamlife Tower 8767 Paseo De Roxas Bel-air Makati City 32.

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132.

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LUO, LEI Chinese

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88.

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15.

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131.

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130.

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CHINESE CUSTOMER SERVICE

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51.

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CHINESE CUSTOMER SERVICE

45.

11.

LIU, YANLEI Chinese

RCD OPERATOR

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SU, HUANGYOU Chinese

20.

128.

CHINESE CUSTOMER SERVICE

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CHINESE CUSTOMER SERVICE

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XIAO, HANG Chinese

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MUN, SEUNGYONG South Korean

CHINESE CUSTOMER SERVICE

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127.

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MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

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CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

52.

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CHINESE SPEAKINGCUSTOMER SERVICE

53.

LIU, WEI-CHENG Taiwanese

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CHIEN, LI-CHUN a.k.a.

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GUO, XINGLIN Chinese

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63.

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104.

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ZHANG, ZHIQIANG Chinese

CUSTOMER SERVICE RELATION

STEFANINI PHILIPPINES, INC. 3f, 5f, 6f Imet Bpo Tower Metro Bldg. Metrobank Ave. Roxas Blvd. Brgy.

076 Pasay City VAN KEULEN, THOM IGOR Dutch

HELPDESK TECHNICIAN I MULTILINGUAL

CHINESE CUSTOMER SERVICE

LIU, CONGCONG, Chinese

CHINESE CUSTOMER SERVICE

66.

MA, XUAN, Chinese

CHINESE CUSTOMER SERVICE

SUMITOMO ELECTRIC INDUSTRIES, LTD. PHILIPPINES BRANCH 4/f King’s Court I Bldg. 2129 Don Chino Roces Ave. Pio Del Pilar Makati City

67.

SOE NAING, Myanmari

CHINESE CUSTOMER SERVICE

68.

XIANG, JILING, Chinese

CHINESE CUSTOMER SERVICE

69.

YIN, CHENGXIANG, Chinese

CHINESE CUSTOMER SERVICE

70.

ZHOU, YANGSONG, Chinese

CHINESE CUSTOMER SERVICE

116.

TANAKA, YOSUKE Japanese

138KV TRANSMISSION PROJECT MANAGER & 230KV TRANSMISSION DEPUTY PROJECT MANAGER

SUTHERLAND GLOBAL SERVICES PHILIPPINES, INC. 12th Floor Philplans Corporate Center Kalayaan Avenue & Triangle Drive Fort Bonifacio Taguig City 117.

HARRY SYLES Indian

SENIOR DIRECTOR-SERVICE DELIVERY MANAGEMENT

118.

KUTTIKOTE BALASUBRAMANIAN, MANESH Indian

VICE PRESIDENT-SERVICE DELIVERY MANAGEMENT

120.

PARK, TAEYUN South Korean

CAPTAIN

37.

77.

HUANG, YONG Chinese

CHINESE CUSTOMER SERVICE

121.

JUNG, CHANGYONG South Korean

COUPLER MANAGER

78.

HUANG, JINLIN Chinese

CHINESE CUSTOMER SERVICE

122.

OH, HAEYONG South Korean

CRANE OPERATOR

79.

LAI, HUILONG Chinese

CHINESE CUSTOMER SERVICE

123.

KIM, JIN KOO South Korean

FOREMAN

80.

LI, ZHIKUAN Chinese

CHINESE CUSTOMER SERVICE

124.

KWON, GYUNGYUL South Korean

FOREMAN

81.

LI, ZHEN Chinese

CHINESE CUSTOMER SERVICE

125.

KIM, TAEKYU South Korean

INSTRUMENT MANAGER

82.

LI, MIAN Chinese

CHINESE CUSTOMER SERVICE

126.

JEONG, HAIIL South Korean

RCD FOREMAN

INFORMATION SECURITY ANALYST

CHEN, SHUI-JU Taiwanese

XINCHUANG NETWORK TECHNOLOGY, INC. 3rd, 5th-10th Flr. Alabang Zapote Rd. Almanza Uno Las Piñas City

CHINESE CUSTOMER SERVICE

CUI, TAO Chinese

143.

CHINESE CUSTOMER SUPPORT

HAO, JIANGUO Chinese

39.

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHENG, PEI Chinese

76.

INVECH TREASURE PROCESSING CORPORATION 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City

ZHANG, NING Chinese

CHINESE CUSTOMER SUPPORT

IBM BUSINESS SERVICES, INC. 8th Floor, 1800 Bldg. Eastwood City Libis Quezon City

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

142.

CAI, HONGDI Chinese

CHINESE CUSTOMER SERVICE

POH HOK JUN Malaysian

CHINESE CUSTOMER SERVICE REPRESENTATIVE

109.

CHEN, SHUNQUAN Chinese

38.

XU, CONG Chinese

BUSINESS LENDING DEVELOPMENT OFFICER

75.

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

141.

YU, GUOCAI Chinese

TOSUNG CONST. PHP INC. Unit No. 701 Flr. No. 7/f Diplomat Condominium Bldg. Roxas Blvd. Cor. Russel St., Zone 10 Barangay 076, District 1 Pasay City

DELIVERY PROJECT EXECUTIVE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

108.

CHINESE CUSTOMER SERVICE

SETH, RAJNISH, Indian

LU, YUECHENG Chinese

INFORMATION SECURITY ANALYST

CHEN, YAOYAO Chinese

SALES MANAGER

140.

ZHANG, HUAN Chinese

74.

KIM, MINJI South Korean

CHINESE CUSTOMER SERVICE REPRESENTATIVE

148.

RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila

119.

36.

LEI, YANG Chinese

INFORMATION SECURITY ANALYST

CHINESE CUSTOMER SERVICE

OPERATIONS HEAD

139.

XIE, RUNQUAN Chinese

CAO, LING Chinese

SONG, JEONGHYEON South Korean

CHINESE CUSTOMER SERVICE REPRESENTATIVE

147.

73.

35.

HUANG, TAO Chinese

MANDARIN TECHNICAL SUPPORT

CHINESE CUSTOMER SERVICE

GOODMORNING INCREATED TRADING CORP. #921 A. Bonifacio Ave. Balingasa 1 Quezon City

138.

GAO, PENGFEI Chinese

BI, RUYI Chinese

NETWORK OPERATION CENTER ENGINEER

CHINESE CUSTOMER SERVICE REPRESENTATIVE

106.

72.

FANG, BINBIN Chinese

HU, YING Chinese

INFORMATION SECURITY ANALYST

LIANG, JINGTIAN, Chinese

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg. Quirino Ave. Tambo Parañaque City Sky Garage Bldg. Aseana Avenue, Entertainment City Tambo Parañaque City

137.

LIU, JUNCHENG Chinese

65.

FOOD AND BEVERAGE DIVISION HEAD

CHINESE CUSTOMER SERVICE REPRESENTATIVE

146.

64.

LEANING, CHRISTOPHER ANTHONY, British

CHEN, SHI Chinese

MANDARIN TECHNICAL SUPPORT

115.

71.

136.

GAN, LIQIANG Chinese

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

NEW COAST HOTEL INC. (NEW WORLD MANILA BAY HOTEL) 1588 P Gil St. Malate Manila

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City

105.

THERMA LUZON INC. 14/f Nac Tower 32nd Street Bonifacio Global City, Fort Bonifacio Taguig City

34.

POSITION

CHINESE CUSTOMER SERVICE

9.

DAI, ZHANGCHENG Chinese

84.

LIANG, WEILI Chinese

FOREIGN NATIONAL / NATIONALITY

MO, JINHUI Chinese

LIU, BIN Chinese

18.

LI, YUANLI Chinese

NO.

90.

8.

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City

83.

POSITION

44.

LIN, JIEPENG Chinese

CHINESE CUSTOMER SERVICE

FOREIGN NATIONAL / NATIONALITY

CHINESE IT SUPPORT SPECIALIST

7.

CHINESE CUSTOMER SERVICE

NO.

ESTABLISHMENT / ADDRESS

WANG, YING Chinese

LI, LINGYU Chinese

CHINESE CUSTOMER SERVICE

Wednesday, May 5, 2021 A7

AZEVEDO, RAYMOND FERNANDES South African

TECHNICAL TRAINING MANAGER

150.

CHEN, JUNLIANG, Chinese

PROJECT MANAGER

151.

NING, JINHAI, Chinese

PROJECT MANAGER

*Date Generated: May 4, 2021 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-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Opinion BusinessMirror

A8 Wednesday, May 5, 2021 • Editor: Angel R. Calso

www.businessmirror.com.ph

editorial

RE and EV boom to benefit PHL

T

he electric vehicle has been around for more than a century, and according to a report published by CNN on its web site in October 2019, it has existed even before the United States Civil War. The first viable electric car was built in 1834, but it gained prominence only in the early part of the 1900s, when it accounted for nearly a third of all cars on American roads. At the time, riding electric cars was more practical than operating clunky steam cars and gasoline cars, which had to be cranked to start and required complicated gear shifting.

Gasoline-powered car would eventually overtake electric cars following Ford Motor Co.’s introduction of the Model T and General Motors’ unveiling of the electric starter in 1912. Electric cars would soon disappear from roads and replaced by vehicles running on gasoline and diesel. It will re-emerge 80 years later, thanks to California’s Zero Emission Vehicles Mandate, which required car makers in the state to sell a certain percentage of “zero emission vehicles.”

Climate change and the need to implement mitigation measures, such as reducing carbon emissions, made electric vehicles more popular in recent years. The clamor for more environment-friendly vehicles paved the way for the emergence of companies like Tesla and the entry of established automakers into the production of electric vehicles or EVs. Tesla, for one, is cashing in on the increasing popularity of EVs, as it posted a profit of $438 million in the three-month period that ended March 31 as sales more than doubled to nearly 185,000 vehicles, according to an Associated Press report.

Countries around the world, including the Philippines, have committed to reduce carbon emissions to combat climate change, and the adoption of EVs is seen as a viable way of helping them meet the goals of the Paris Climate Change Agreement. Despite its potential to reduce carbon emissions, EVs have not really caught the fancy of Filipinos due to their prohibitive cost as well as the lack of charging stations. Government think tank Philippine Institute for Development Studies said fiscal perks may help entice Filipino car owners to shift to EVs (See, “Fiscal Perks Key To Higher E-Vehicle Demand,” in the BusinessMirror, May 3, 2021).

For a country that is aspiring to expand its exports and meet its commitments under the Paris Agreement, developing the local EV industry makes a lot of sense. Policy-makers should heed the recommendation of PIDS to craft an EV strategy and to look at the incentives offered by other countries that are manufacturing electric cars.

Passing a law that would establish a national framework of regulations for EV standards, incentives, and infrastructure would also help attract foreign direct investments that will create jobs.

The Philippines has the resources to take advantage of the boom in renewable energy and electric vehicles (See, “Mining Needs Policy Lift As Nickel Boom Seen In Focus On RE, E-Vehicles,” in the BusinessMirror, December 24, 2020). With its nickel supply, the Philippines can create more than 1 million jobs in the years to come and eventually become a world power in renewable energy and electric cars, according to a lawmaker. Putting in place the right policies is key to achieving this vision.

ExpreSSS e-learning portal Aurora C. Ignacio

All About Social Security

W

hen the pandemic swept the world, it became evident that online learning is the next big thing in educating people.

These days the popularity of online learning continues to grow.

The convenience of taking online courses at the safety and comfort of the home made it so popular, especially among the younger generations.

What could be better than being able to enroll in any course—offered locally or overseas— without having to go out or travel distances? The only requirement is a stable Internet connection and a computer, and you’re all set.

We have realized that we can learn new things and upgrade our knowledge and skills even without having to gather in one place safely and expediently.

✝ 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 Ombudsman President Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) 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.

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to study and understand the content of the module.

An e-certificate will be sent to the registered e-mail address of learners who get a passing rate of 80 percent in the post-examination within seven working days. If they failed the test, we highly encourage them to restudy the module and retake the exam.

From November 28, 2020 to April 15, 2021, we have already accommodated 14,231 participants who have completed at least one module and took the post examination. Around 6,331 participants who took the post-module test passed the exam and have already received their ecertificates.

We encourage everyone to visit the ExSSSeL Portal and expand his or her knowledge about SSS. As what renowned physicist Albert Einstein once said, “Learning is an experience. Everything else is just information.”

Have a productive week ahead!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Damages due to unauthorized substitution of employment contract

Since 2005

BusinessMirror A broader look at today’s business

At SSS, we recognize that we also need to align our efforts to educate our members, employers, and other stakeholders about various SSS programs and services using the current learning trends. This paved the way for the development of our very own online learning platform—the ExpreSSS e-Learning (ExSSSeL) Portal.

Many of you already know that SSS has intensified efforts to expand online services portfolio, aptly called ExpreSSS…mas pinadali, mas pinasimple at mas pinabilis.

A key element in this initiative is ExSSSeL, which was launched in November 2020. This platform allows stakeholders to learn more

about the pension fund’s different policies, programs, and updates for free, 24/7, safely and conveniently.

Interested individuals can also access the ExSSSeL Portal using the following link https://bit.ly/ExSSSeL_Portal.

Here, they can choose their preferred topic among the five training modules, namely: Module 1: Sickness Benefit; Module 2: Maternity Benefit; Module 3: Unemployment Benefit; Module 4: Disability Benefit; and Module 5: Salary Loan.

Once they have selected a training module, they need to accomplish the online registration form by providing their complete name, valid e-mail address, company name, and the nearest SSS branch or servicing branch. For employers, they should also indicate the number of employees they represent.

They can also enroll in multiple modules and study each one at their own pace. For multitaskers, multiple modules may be opened simultaneously.

Like in many online learning courses, there is a post-examination at the end of each module. We encourage learners to take their time

Dennis Gorecho

Pinoy Marino Rights

L

icensed recruitment agencies will be liable for damages due to the unauthorized substitution of the government-approved employment contracts.

The Supreme Court stressed this principle in the recent case of Marcelo M. Corpuz v. Gerwil Crewing Philippines Inc. (GR 205725 January 18, 2021) in awarding the damages due to the agency’s carelessness and wanton disregard of its continuing liability to ensure the welfare of the Filipino workers they deployed abroad.

Corpuz was hired and deployed as an Able Seaman by Gerwil Crewing Philippines to work for vessel MT Azarakhsh of Echo Cargo & Shipping LLC. for a 12-month contract as approved by the Philippine Overseas Employment Administration (POEA).

Unfortunately, he was repatriated due to severe headache and vomiting after he allegedly sustained a fall while lifting heavy motor parts.

The seafarer’s request for medical assistance was denied on the ground that the illness was not work-related. He then consulted a private doctor who issued a certification that he was suffering from “Severe Complex Cerebral Function Disturbance or Post Traumatic Psy-

choneurosis.” He later filed a case for disability benefits.

The Labor Arbiter ruled in favor of the seafarer that his injury was related to his exposure to toxic and hazardous materials.

The National Labor Relations Commission (NLRC), however, reversed the ruling due to his failure to comply with the mandatory threeday reporting requirement. This was affirmed both by the Court of Appeals and the Supreme Court.

While the seafarer may have forfeited his right to claim disability benefits, the Supreme Court found it proper to award him with moral damages (P100,000.00), exemplary damages (P100,000.00), due to the agency’s wanton behavior and by way of example for the public good; and attorney’s fees equal to 10 percent of the total monetary award.

The award for damages was based on the Court’s observation that the salient terms of the employment contract were altered or changed without the approval of the Department of Labor and Employment (DOLE)

through the POEA. The Sea Service Certificate indicated that the seafarer worked with Al Mansoori Production Services Co. (LLC) as an Oiler on board M V Alshaheen MPS (DPS2), a production well testing and supply vessel, from August 6, 2008 to August 10, 2009.

But the entries in the certificate were completely different from those in the POEA-approved employment contract executed on May 28, 2008.

The agency’s omission resulted in the change of the seafarer’s foreign employer on board a different vessel, and service in a totally different capacity, which working conditions may have led to his medical repatriation.

The Court stressed that the substitution or alteration of the POEAapproved contract had relegated the seafarer to the unfavorable situation which Republic Act 8042, or the “Migrant Workers and Overseas Filipinos Act of 1995” as amended, specifically seeks to avoid.

The agency entered into a covenant with the State to promote the safety and welfare of Filipino workers. They have undertaken to ensure that the “contracts of employment are in accordance with the standard employment contract and other applicable laws, regulations and collective bargaining agreements.”

The agency’s inaction or omission was against existing law and public policy as it perpetrated the illegal and pernicious practice of substituting the POEA-approved contract to the detriment of the Filipino worker.

The agency had been complacent with the fact that it was able to deploy the seafarer abroad without ensuring his status and his whereabouts despite the non-accreditation of the foreign principal Echo Cargo.

The law did not limit the responsibility of agencies to the recruitment and deployment of Filipino workers to foreign countries. They are obliged to extend assistance to migrant workers, especially those who are in distress, a responsibility that exists during the lifetime of the employment contract and shall continue despite substitution, amendment or modification of the agreement.

The law also provides for the solidary and continuing liability of recruitment agencies against monetary claims of migrant workers.

The Supreme Court ruled in the earlier case of Chavez v. Bonto-Perez (312 Phil. 88) that a subsequently executed side agreement which reduced one’s salary below the amount approved by the POEA is void because it is against existing laws, morals and public policy.

The side agreement cannot supersede the POEA-approved standard employment contract, the Court said, adding that is a scheme all too frequently resorted to by unscrupulous employers against helpless overseas Filipino workers who are compelled to agree to satisfy their basic economic needs.

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

www.businessmirror.com.ph

Opinion

Life-giving forces amid the pandemic

Vaccination program: Making the case for local producers of ‘nonessential goods’

BusinessMirror

Dr. Jesus Lim Arranza

Dr. Carl E. Balita

MAKE SENSE

Entrepreneurs’ Footprints

E

ven the most gruesome and horrifying experience, like this pandemic, can be seen through a positive lens not to deny, fake and sugarcoat it but to celebrate the appreciation of the positive. After all, it is in this area of the positive where we are all intending to grow. We attract into our reality those that we choose to see through our perceptions and what we nurture in our conscious and unconscious minds. As social media has become an obituary of deaths or a scream room for those who are going through the difficult experiences, we may still choose to find a glimmer of hope. As my 19-year-old daughter Lyza advices people in her poem—if you cannot seem to see the light at the end of the tunnel, maybe you can be the light in the tunnel.

I have engaged myself in a book project that will contribute to the documentation of the positive experiences of the pandemic. I refuse to state the obvious— the negativities, the fears and anxiety, frustrations and failures, unemployment and bankruptcy, even in survival and death. I focused on the appreciation of the positive experiences, through the peak experiences to celebrate the “best of what was,” towards the achievement of the “best of what could be,” through the appreciation of the values, resources and lessons of the present. It opens the pandemic experiences into the deep thinking that, worst as it may seem, there are peak moments that could be narrated to inspire me as the interviewer, the one being interviewed, and eventually the readers who could be challenged to agree that there remains some sources of joy, contentment, and completeness amid the pandemic. In the process, it engages the conversation into the discovery of what gives “life” to that person within the living system within and around her or him. The values that are held precious and dear surface, as the lessons learned through the experiences inspire the cocreation of an ideal future. The book shall be launched with the title, LIFE-GIVING FORCES: The Pandemic Stories of 120+ Men and Women Appreciated through the Positive Lens.

The framework of the book adopts the beautiful model of “Appreciative Inquiry [AI], which is about the co-evolutionary search for the best in people, their organizations, and the relevant world around them. In its broadest focus, AI involves the systematic discovery of what gives ‘life’ to a living system when it is most alive, most effective, and most constructively capable in economic, ecological, and human terms,” says AI proponent David L Cooperider. AI is a strengths-based, positive approach, which focuses on strengths rather than on weaknesses, to help people move toward a shared vision for the future. AI deliberately seeks to work from accounts of this “positive change core” and link the energy of this core directly to any change agenda and changes never thought possible. All of these are achieved through an inquiry that is facilitated through the “unconditional positive questions.”

The book features 120 plus interesting and diverse men and women from all walks of life. From the Philippine Vice President Leni Robredo who shares her joy of having a daughter pass the Physician’s Licensure Examination, to Senators and Secretaries who were found to be in the forefront of the country’s response to the pandemic, namely Senators Bong Go, Win Gatchalian and Sonny Angara, and Department Secretaries Fortunato de la Peña, Mon Lopez, and Silvestre Bello.

The book features the heroes and heroines of health care in crises. Included are Doctors who are advocates, frontlines and survivors, namely Dr. Tony Leachon, Dr. Willie Ong, Dr. Jaime Almora, Dr. Joe Santiago, Dr. Jean Pauline Ubial, Dr. Ted Esguerra, Dr. Jim Sanchez. Also included are nurses who are leaders and bedside angels to dying patients, namely Melbert Reyes, Neris Gerial, Tita Barcelo, Fem Octaviano and more nurses.

On the economic side, the book also engages business leaders in the forefront of their “flock” who are barely surviving to business people who are pivoting in the spirit of survival for their people, namely Benedicto Yujuico, Sherill Quintana, Rose Ong, Sergio Ortiz Luiz, Rhoda Caliwara, Jorge Wieneke, Sarah Mateo and more business leaders. The

book also has the positive insights of iconic business personalities like Francis Kong, Samie Lim, Josiah Go, Johnlu Koa, Bing Limjoco, Jun Palafox, Yeng Tupaz, Jose Magsaysay, Victor Paterno, Marites Allen, Henry Tenedero, RJ Ledesma, Butz Bartolome, Alice Liu, Yvette Orbeta, Lito Villanueva, Giovanni Melgar, and more. The richest Filipino Manny Villar is joined in by the richest self-made Billionaire Injap Sia, along with social entrepreneurs Tony Meloto, Chit Juan, and more. Best-selling authors are also featured namely, Paulo Tibig, Chikee Tan, Eric Soriano, Ardy Roberto, Mon Abrea, among others. Also featured are celebrity hosts and journalists whose questions are hard and deep for humanity in this pandemic experience like Boy Abunda, Karen Davila, Julie Yap-Daza and Nestor Cuartero.

Even Apo Whang-Od, the worldrenowned tattoo artist has her share of the pandemic experience. But as the pandemic didn’t spare anyone in the society, also in the list are celebrities who are holding on to their hope as the spotlights are momentarily gone for their craft to showcase like Dulce, Ebe Dancel, Noel Cabangon, Vehnee Saturno, Isay Alvarez, Angeli Bayani, Maria Isabel Lopez, Freddie Webb, among others.

And as the pandemic led to education crisis, education Leaders Atty. Danny Concepcion, Bert Tuga, Diosdado San Antonio, Nepomuceno Malaluan, Ramelle Javier, Nilo Rosas, along with other educators with great stories like the indigenous teacher Gennie Panguelo, blind teacher Camille Mercado, teacherto-the-islands Windell Alvarez. Other leaders of the professional world are also included in the book like Jeffrey Singson, Alfred Carandang, Joan Tabinas, Mila Llanes, and more.

On the spiritual side, the book features religious and spiritual personalities like Fr. Jerry Orbos, Fr. Jerome Marquez, Pastors Reuel Tica and Art Medina, Sr. Agnetia Naval, Ms. Fatima Soriano, and more. This article may not be able to enlist everyone in the book, but they are all as precious as those aforementioned. Co-author in this project is Lyca Balita, also a BusinessMirror writer. Robert Seña contributes his positive photography while Illustrations are provided by Aimee Balita.

The book LIFE-GIVING FORCES celebrates the positive aspects of the experience, not undermining the trauma that the pandemic experience brings to countless lives. It is not an attempt to ignore the devastating effect it brings people, families, communities and businesses. It documents some footprints of the pandemic experience that can teach the lessons beyond the pandemic.

Cooperider concludes and asserts that “one thing is evident and clear as we reflect on the most important things we have learned with AI: human systems grow in the direction of what they persistently ask questions about and this propensity is strongest and most sustainable when the means and ends of inquiry are positively correlated. In short, as we ask positive questions, we grow in the direction of the positive. The positive means used in the story-telling leads to its positive end, which are lessons learned and life changed.

The book LIFE-GIVING FORCES: The Pandemic Stories of 120+ Men and Women Appreciated through the Positive Lens will be launched on May 29, 2021, virtually.

Watch out for more information or message 0910-292-8889.

For feedback, please send e-mail to drcarlbalita@ yahoo.com.

I

was invited as a resource person in the recent joint hearing of the House Committees on Trade and Industry and Health on the country’s vaccination program under Republic Act 11525 and its implementing rules and regulations (IRR) contained in DOH-NTF Joint Administrative Order 2021-0001.

As the chairman of the Federation of Philippine Industries, I conveyed our gratitude to the men and women behind the public-private efforts to speed up the inoculation of our people against Covid-19 and also presented our views on the priority lists, specifically the “A4 Vaccine Priority Group.”

Thanks to the revisions made on the IRR, private entities can now procure Covid-19 vaccines without discrimination as to who are allowed or prohibited through tripartite agreements involving the government, the pharmaceutical company, and the private firms.

What concerns us, however, is the composition of the latest A4 Priority List, which, upon careful examina-

tion, left out economic frontliners in key industries that play vital roles in the recuperation of our crippled economy.

During the joint hearing on April 21, while I supported the adoption of the A4 list forwarded by “A Dose of Hope” initiator Joey Concepcion, I also moved for the removal of the requirement that only foreign exchange-earning manufacturers would be given priority in the vaccination program. I also took note of the preference to be given to manufacturers of essential goods, like food and medicine.

Let me emphasize that the domestic industries are the pillars of our economy. When we manufacture products, we also generate substan-

Wednesday, May 5, 2021 A9

tial amounts of taxes that are very critical in this time of pandemic.

The local production of, for instance, steel, ceramic tiles, roofing materials, and automotive batteries, negates the need to import substitute products that will deplete our dollar reserves. So, yes, we do not directly bring in dollars to the country, but we also contribute immensely to foreign exchange savings.

Our appeal is to remove that classification of essential and nonessential goods for domestic industries, much like how the maintenance personnel of hospitals are being treated equally as doctors and nurses in the vaccination priorities.

If we will only prioritize the producers of what we now call as “essential goods”, what will happen to the other local manufacturers? If they are left out in the vaccination program, we will eventually see less production. As a consequence, imported goods will flood our domestic market. This will have negative ripple effects—plant closures, loss of jobs, and loss of taxes for the government, among others.

I appeal to our policy-makers, don’t make our beloved country dependent on imported products, especially now that other countries are prioritizing the needs of their own people. Naturally, they will

make sure their people will get the best of what they produce first. The surplus, which may be of inferior or substandard quality, will be dumped on us, as what is happening now. We see substandard imported products all over the country.

We need to balance our health and economic interests by taking into consideration the role of all domestic industries. We are all economic frontliners. I am therefore reiterating my request to Secretary Carlito Galvez to revise or clarify the “A4 vaccine priority group” to make it more sensitive to the plight of all local industries.

I also ask that industries be given a wide latitude of discretion on the administration of the 50 percent of the vaccine that they have procured since they are more familiar with their business environment.

We really believe that the country’s socioeconomic recovery would be hastened if more industries are allowed to proceed with their vaccination programs in close coordination with the concerned government agencies.

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

My thoughts on the constitutionality of mass vaccination

By (Ret.) Justice Noel Gimenez Tijam

P

olice power, an inherent power of the State, is an attribute of sovereignty. The term was coined by United States Chief Justice John Marshall in Brown v. Maryland in 1827. Chief Justice Marshall strongly proclaimed that police power is the power of the State to protect its citizens. The concept of police power arises from the indispensable need to safeguard the well-being of its citizenry and to preserve their rights. Police power is deeply rooted from the very purpose and objects of the State; that to deny the State of its exercise would be to destroy the State itself. As an exercise thereof, the State may impose restrictions in the exercise of rights and enjoyment of property in view of promoting public health, public safety, and morals. The concept of police power is incapable of exact definition; it was even, in fact, believed that any attempt to define it is an exercise in pedantry. The police power of the State is understood in general terms to embrace undertakings of the government for the benefit of all. Simply put, police power is for the purpose of promoting the general welfare.

Whether mandatory vaccination is a valid exercise of police power was first held in the 1905 Supreme Court case of Jacobson v Massachusetts. In said case, a Massachusetts law, mandating smallpox adult vaccination and providing penalty in case of refusal, was challenged. In a 7-2 votes, the US Supreme Court upheld the authority of the State to enact measures which seek to promote public health in deference to the exercise of police power.

Rejecting the plaintiff’s claim that providing penalty of fine and imprisonment for refusal to be inoculated is in derogation of one’s right to care for his own health and body, the US Supreme Court distinguishes that the exercise of one’s right is not absolute. It is not unlimited and is subject to restraint— that is, for the common good.

Though inherent, police power has limitations. In Jacobson, the US Supreme Court stressed that it must not be exercised arbitrarily. It must not go beyond what is reasonably necessary for the safety of the public – as what had transpired in said case. The US Supreme Court sustained the validity of the Massachusetts law after finding that the Massachusetts board of health had determined the necessity for such mandatory inoculation for public health and safety because of the increasing number of cases within the locality.

While belaboring on the police power of the State as the seedbed of the authority to restrict rights for the promotion of public health, the US Supreme Court, however, readily clarified that its ruling should not be misconstrued as a blanket order mandating adult vaccination. For obviously, the intention of the law to protect the people would lead to absurdity if its application would be for all adults, including those whose medical conditions may thwart the beneficial effects of immunization and those whose circumstances prove them as unfits from

the vaccine’s protection. Insisting on the law’s implementation without embodying its intent is clearly inutile.

While the issue of the constitutionality of mandatory vaccination has yet to reach the Philippine shores, Philippine jurisprudence is replete with cases emphasizing that the right of the State to protect the health of its citizens stems from the exercise of its police power. Repeatedly and relentlessly, the Supreme Court recognized the valid restriction on the exercise of one’s right or enjoyment of his property when the same would tend to destroy public health, public morals, public safety and the general welfare.

Not only is the inherent power of police power the source of the State’s obligation to protect public health. The 1987 Constitution likewise declares it as a State policy. Section 15 of Article II provides that “The State shall protect and promote the right to health of the people and instill health consciousness among them”. It mandates the State to afford protection to a person’s right to health. To emphasize further this State policy, Sections 11 to 13 of Article XIII are entirely devoted to health, mandating the State to adopt a comprehensive approach to health development which shall ensure affordability of health care, among others.

In several cases by the Supreme Court, recognition of the right to health and the State’s obligation to protect such right was enunciated. In Oposa v Factoran, the Supreme Court pronounced the significance of the right to health in that sans its inclusion in the Constitution would not change the fact that “it is presumed to exist from the inception of humankind”. That the framers of the Constitution found it appropriate to explicitly mention such right to highlight the primacy of the State’s obligation to advance the people’s right to health. In Laguna Lake Development Authority v Court of Appeals, right

to health is stressed as a fundamental human right. In Imbong v Ochoa, the Supreme Court emphasized the State’s duty to provide for the health of the people, and declared that provisions of the Constitution relating to health are self-executing; hence, there is no need for any legislative act to enforce a constitutional mandate.

As stated in Oposa v Factoran, the mere fact that the right to health is not enshrined under the Bill of Rights does not necessarily imply that it is “less important than any of the civil and political rights”; for “basic rights need not be written in the Constitution for they are assumed to exist from the inception of humankind.” After all, the right to health is but a component of the right to life, a universally-protected right. Article 25.1 of the Universal Declaration of Human Rights affirms that “Everyone has the right to a standard of living adequate for the health of himself and of his family, including food, clothing, housing and medical care and necessary social services”, while Article 12.1 of The International Covenant on Economic, Social and Cultural Rights recognizes “the right of everyone to the enjoyment of the highest attainable standard of physical and mental health.”

The State’s obligation to protect and advance public health would concomitantly require enactment of measures which may, somehow, transgress other civil and political rights. Under Committee on Economic, Social and Cultural Rights Comment No. 14, it recognizes health as indispensable fundamental right, which requires the State to respect (refrain from interfering with the enjoyment of such right), protect (take measures that prevent third parties from interfering), and fulfill (adopt legislative, administrative, budgetary, judicial, and other measures towards the full realization of the right to health).

Moreover, The Siracusa Principles on the Limitation and Derogation Provisions in the International Covenant on Civil and Political Rights, which permits the invocation of “public health” as a ground for limiting certain rights in order for the State to take measures dealing with serious threat to the health of the population. Indeed, “the right to health also includes the right to control the spread of infectious diseases via a variety of control measures, some of which are restrictive.”

Confronted with the present, can a law compel Covid-19 mass vaccination?

While the factual milieu in Jacobson is not similar to ours, the principles laid down therein are still relevant.

Within the domain of police power, any statute which mandates vaccination must be reasonably necessary for the promotion of public health and general welfare; and its intent must always prevail in its implementation. Reasonable

necessity guarantees protection of the constitutional right to due process. It shields the people from any attempt to whimsically exercise the all-encompassing police power of the State.

Undeniably, its mandate by virtue of a valid exercise of its police power and in observance of a constitutional state policy, the State may order mandatory vaccination. If mandatory inoculation is ordered by the State, does this give a license for the employers to bar their employees from entering the workplace for the latter’s refusal to be vaccinated?

Management prerogative allows employers to prescribe reasonable rules and regulations necessary for the proper conduct of its business. Employers are given wide latitude of discretion to promulgate employment policies, provided that the policy is proven to be rationally connected to the performance of the job and that the standard is reasonably necessary.

Thus, a company policy which provides for punishment in case of the employee’s failure to comply with a mandatory vaccination law would be valid if and only if the policy passes the test of reasonableness. That imposition of punishment against an employee who refuses to be inoculated for medical reasons would be unjust. Failure of the employees to follow a valid company policy may warrant imposition of disciplinary measures or even dismissal from service. In the imposition of penalty, it is worthy to mention that its nature must be proportionate to the gravity of the offense.

In all, mandatory vaccination is constitutional. It is an exercise of the State’s police power and discharge of the constitutional State policy of protecting and promoting the people’s right to health.

As French Philosopher Jean-Jacques Rosseau had put it in The Social Contract, “Man is born free, and everywhere he is in chains.” Certainly, one’s right to freely choose how to care for his/her life is not to be exercised in complete and utter disregard of others. The unavoidability of hampering rights to respond to such indispensable need to protect public health is clear. Nevertheless, citizens are expected to uphold and participate in the promotion of common good. Invocation of constitutional rights perceived to be violated by this mandatory inoculation, such as the right to privacy, should not prevail if it would be detrimental to the common good. The exercise of a right is not absolute.

However, let it be emphasized that this does not bestow upon the State the unbridled power, which may result in arbitrariness. Such power must be exercised within the walls of reason and necessity. Only when it is demonstrated after a careful and exhaustive study that mandatory vaccination is indispensable to advance public health would it be valid for the State to enact measures for that purpose.

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DBM: ₧2.9B of ₧25-B fund for disasters released

By Bernadette D. Nicolas

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@BNicolasBM

HE Department of Budge t a nd M a n a ge me nt (DBM) on Tuesday said that as of end-April it has released P2.909 billion in allotments out of the total P25.135-billion National Disaster Risk Reduction and Management Fund (NDRRMF) from the 2020 and 2021 national budgets.

In a statement, the DBM said they are also currently processing an additional P2.779 billion based on recent approvals from the Office of the President (OP) covering disaster-related programs and projects in response to calamities occurring from the 2018 to 2021, as well as the Marawi Recovery, Rehabilitation and Reconstr uction Program (MRRRP) and Comprehensive Aid to Repair Earthquake Damage (CARED).

“The remaining P19.445-billion appropriations will be utilized based on the specific purposes and allotments which will be released by the DBM to appropriate Departments and Agencies upon receipt of the corresponding approvals from the OP,” it said.

Continued on A4

Aussie firms stay in PHL, upbeat despite pandemic

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By Tyrone Jasper C. Piad @Tyronepiad

ESPITE the current economic turmoil, Australian firms have stayed put in the Philippines and more are expected to expand their business locally.

Christopher Lim, Senior Trade and Investment Commissioner at the Australian Embassy, is upbeat on the prospects of Australian firms expressing interest in doing business in the Philippines.

“The Australian business community here has been unwavering in its commitment to the Philippines. As far as I know, no Australian business packed up and left,” Lim said during a recent virtual event.

Currently, over 300 Australian companies employ about 44,000 Filipinos in mining, shipbuilding, energy supply, retail trade, accommodation and food service facilities, manufacturing, transportation and storage. At least 200 of these are in the information technology-business process management industry.

Lim even noted that “some Australian companies have done better” compared to previous years.

“Furthermore, I receive a continuous stream of inquiries from new and existing Australian companies wanting to do more in the Philippines,” he said.

The senior trade official said Australian firms, like any other companies, had to adjust amid the lockdown restrictions imposed since last year as they pivoted to digitalization.

“I heard from several Australian businesses here in the Philippines that the pandemic has compelled them to innovate and accelerate the transformation towards digitalization,” he explained.

Despite the lockdown protocols, there has been no major concern raised by the Australian firms when

it comes to the supply chain.

Australian Ambassador to the Philippines Steven J. Robinson explained that while accessibility of goods was a challenge during the onset of community quarantine, the Philippines was able to manage the situation.

Robinson said Australian goods were still able to hit the local markets for distribution.

“The supply chain worked as we have hoped for them to work,” he said.

Meanwhile, the ambassador vowed that the embassy would continue working with the local governments and women-led smalland medium-sized enterprises to prepare them from future “economic shocks.”

“For the Australia-Philippines trade relationship, there is much more that can be achieved in a manner that is commensurate with our respective economies as we emerge on the other side of the pandemic,” Lim added.

Lifting of mining ban

ROBINSON welcomed the recent lifting of the moratorium on processing new mining projects, saying it was a “really positive step forward” for the country.

Continued on A2

LOCSIN SAYS SORRY TO WANG, BUT FINDS ALLY IN SEN. RECTO

By Recto Mercene

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@rectomercene

OREIGN Affairs Secretary Teodoro L. Locsin Jr. on Tuesday apologized to his counterpart, State Councilor and Foreign Minister Wang Yi, for his expletive-laden tweets excoriating the continued presence of Chinese maritime militia vessels in the West Philippine Sea (WPS) and their arrogance in telling Philippine military and fishery officials on radio, while conducting patrols, to “leave the area, this is Chinese territory.”

Locsin said, “I won’t plead the last provocation as an excuse for losing it; but if Wang Yi is following Twitter, then I’m sorry for hurting his feelings but his alone.”

Locsin said his apologies are meant only for Mr. Wang and not the Chinese Ambassador to the Philippines, Huang Xilian, who had earlier insisted the Chinese militia vessels are only seeking cover from rough seas in Julian Felipe Reef— an excuse that both Locsin and Defense Secretary Delfin Lorenzana had rejected.

“Hindi sa Chinese ambassador. Trabaho niya ay tumanggap

ng reklamo o insulto. Kay State Counselor Foreign Minister Wang Yi, ang pinaka matalino at personableng diplomat sa buong mundo. [I did not apologize to the Chinese ambassador. It is his job to receive complaints and insults. It’s for State Councilor Foreign Minister Wang Yi, the most intelligent and personable diplomat in the whole world].

Harry [Roque] understands my hair-trigger temper under repeated provocation.”

Presidentia l Spokesman Harry L. Roque said he was informed by Locsin that he already apologized over the matter.

“Kami po ay nagkausap ni Secretary Locsin, at pinaalam po niya sa akin na personal siyang nag-apologize po sa Chinese ambassador at ang mga nabanggit naman po niyang salita ay dahil lang sa mga bagay-bagay na naging dahilan para uminit ang kaniyang ulo [I spoke with Secretary Locsin, and he told me he had apologized to the Chinese ambassador, and that the words he spoke arose from past events that made him lose his temper],” Roque said in a virtual Palace briefing on Tuesday.

Continued on A4

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, May 5, 2021

B1

Petron books ₧1.73-B profit in Q1 on higher oil prices

By Lenie Lectura

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@llectura

ETRON Corp. booked P1.73 billion in net income in the first quarter, a turnaround from the P4.9-billion net loss it posted last year and higher than the P1.2-billion net income in the fourth quarter of 2020.

Improving oil prices in the world market, savings on operational expenses and financing cost contributed to the oil firm’s first quarter results despite depressed demand.

First quarter volumes reached 19.38 million barrels, 21 percent lower than the 24.66 million barrels sold in the same period last year.

Consolidated revenues likewise decreased 20 percent to P83.3 billion, from P104.62 billion a year ago.

Despite lower revenues, Petron delivered a turnaround in the first quarter with a P3.7 billion operating income coming from its P4.4 billion operating loss in the same period last

year. It also recorded inventory gains due to the recent improvements in international oil prices in contrast with the inventory loss in the first quarter last year. In addition, Petron recorded savings on operating expenses and financing costs.

“As a company, we are doing all that we can to create a safe and healthy work environment while ensuring that our recovery stays on track. Petron is constantly evolving, and we will continue to work towards our goal of emerging stronger from this pandemic. With the country’s vaccination program gaining more ground, we feel confident about our

prospects and have, in fact, scheduled the resumption of our refining operations this June,” said Petron President Ramon S. Ang. To help the government achieve its vaccination goals, San Miguel Corp. (SMC), the parent company of Petron, is spending close to a billion pesos for its group wide Ligtas Lahat vaccination program, which aims to inoculate all 70,000 SMC employees and extended workforce.

“We are banking on the success of vaccination efforts here and abroad to boost our economy and the downstream business environment in general. While we have our work cut out for us, we are inspired to do more, grow stronger, and contribute further to society,” said Ang. Petron has set aside P11 billion for its 2021 capital expenditures (capex), higher than the P8.5 billion it allocated last year. The amount covers its ongoing construction of steam generator plants, strategic retail network expansion, and maintenance requirements. Petron has put up 14 new stations in the first quarter with plans to build more for the rest of the year.

This year’s capex will be financed by a combination of internal cash generation and external financing sources.

Petron temporarily closed down its 180,000-barrels per day refinery in May last year and reopened in October. It again ceased refinery operations on February 10, 2021 and will reopen either May or June this year.

Following its approval as a registered-enterprise last December, the Petron Bataan Refinery has started to transition into the Freeport Area of Bataan and has also begun to avail of fiscal incentives from operating in a freeport zone.

In Malaysia, Petron’s two major expansion projects in Port Dickson Refinery—the Diesel Hydrotreater (DHT) and Marine Import Facility 2 (MIF2)—remained on track. The new DHT unit will enable the refinery to produce ultra-low Sulphur automotive diesel, while the MIF2 will expand its finished product storage capacity to support future growth in Petron Malaysia and at the same time generate savings on freight cost.

Ayala Land income falls 36% in Q1

By VG Cabuag @villygc

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roperty developer Ayala Land Inc. on Tuesday said its income in the first quarter declined by 36 percent to P2.77 billion, from the previous year’s P4.32 billion due to the impact of quarantine restrictions on its operations.

Revenues for the January-toMarch period fell 13 percent to P24.6 billion from last year’s P28.4 billion.

Sales reservations reached P28.5 billion in the first quarter, an increase of 15 percent from P24.7 billion last year, as local demand remained robust amid the community quarantines.

“We continue to work through the difficulties of the pandemic with an eye towards full recovery in the next two to three years. Our residential business registered higher sales in the first quarter versus a year ago with new product launches gaining

favorable market acceptance,” company president and CEO Bernard Vincent O. Dy said.

“Our commercial leasing businesses improved quarter-on-quarter but these are not expected to fully recover until mobility restrictions are eased. Looking at our total portfolio, we expect our capital expenditures, product launches and completions to drive our performance this year amid the ongoing challenges caused by the pandemic.”

The company’s property development revenues reached P16.2 billion, 6 percent lower than last year’s figure, but 37 percent lower when compared with the fourth quarter of 2020. About half of the construction workforce was deployed, supported

by Makati Development Corp.’s offsite manufacturing facilities.

Residential revenues were flat at P13.61 billion compared to P13.76 billion in the first quarter of 2020.

Revenues from the sale of office

units increased 85 percent to P1.8 billion from P962 million as a result of solid bookings from developments, such as Alveo’s Park Triangle at Bonifacio Global City and Ayala Land Premier’s One Vertis Plaza at Vertis North.

Revenues from the sale of commercial and industrial lots plunged 67 percent to P818.4 million, from P2.5 billion on slower take up at Vermosa and Alviera estates, while revenues from the sale of its office units rose 85 percent to P1.77 billion, from last year’s P962 million.

Commercial leasing revenues declined 41 percent to P5.1 billion from last year’s P8.71 billion as the operations of malls, hotels, and resorts remained restricted. Shopping center revenues dropped 58 percent to P1.96 billion year-on-year from P4.64 billion on account of limited operations, discounted rental rates to support tenants, and low foot traffic.

Office leasing revenues were flat

at P2.51 billion from last year’s P2.47 billion since business process outsourcing firms and other corporate offices remained in their premises.

Hotels and resorts revenues fell 60 percent to P640 million from the previous P1.59 billion as hotel occupancy remained low while resorts were closed since the reimposition of the enhanced community quarantine in end-March.

Ayala Land launched 6 projects in the first quarter with a total value of P17.4 billion. The company has budgeted P100 billion worth of project launches for 2021.

Capital expenditures amounted to P15.3 billion for the period, equivalent to 17 percent of the P88 billion full-year budget.

Approximately 59 percent was spent on residential projects, 12 percent on commercial projects, 10 percent for land acquisition, 17 percent for the development of estates and 2 percent for other purposes.

PAL plans to offer flights to Israel starting Oct

By Recto L. Mercene @rectomercene

I

srael’s Ministry of Tourism has announced that flag carrier Philippine Airlines (PAL) may offer direct flights from Manila to Tel Aviv starting October.

The announcement was made following a recent discussion between Israel’s delegation and PAL executives.

“This is good news for all Filipinos who have been longing for a spiritual pilgrimage to the Holy Land or a Mediterranean getaway after more than a year of being in lockdown,” PAL said in a statement.

“I am pleased to give this important first step to the tourism industry between Israel and the Philippines. Direct flights between our two capitals will be a game-changer for tourism and business connectivity. This time Israel has unique advantage as a safe and healthy country. We hope to welcome you soon in Israel,” said Amir Halevi, Director General of Israel’s Ministry of Tourism.

The airline said it hopes to serve growing demand for air linkages between the Philippines and the Holy Land to serve tourists and overseas Filipino workers (OFWs) alike.

PAL Chief Strategy and Planning Officer Dexter Lee said, “The Philippines is a strong source of potential travelers to Israel, which welcomes Filipinos without requiring a visa. Our countrymen

Photo shows Philippine Airlines President Gilbert Santa Maria (left) and Amir Halevi, director general of Israel's Ministry of Tourism. Contributed Photo

have been longing for a direct flight to the Holy Land for spiritual pilgrimages or for a Mediterranean getaway when the travel climate allows.

We also look forward to inviting Israelis to visit the Philippines, so our direct flights will help us restart tourism here in our country.”

Philippine passport holders are entitled to a 90day visa-free access to Israel. An estimated 28,000

Filipinos currently work in Israel, most of whom are based in the neighboring areas of Tel Aviv, Jerusalem, and Haifa.

“Since 2017, we’ve been surpassing our target in terms of the number of Filipinos travelling to Israel. The Philippine market created a foundation for the steady growth in tourism. Visa free is a gift for both countries. Israelis had also taken an interest in visiting the Philippines thru Survivor Israel series. Now they are shooting again another episode in the Philippines,” said Sammy Yahia, Israel’s Ministry of Tourism director for India and the Philippines.

Once the global travel climate improves and restrictions are eased, the planned PAL service will enable Israeli tourists to fly nonstop to Manila and connect to the flag carrier’s domestic route network.

“We welcome the opening of the direct flight that was delayed due to the pandemic. As you know, Filipinos don’t need a visa to visit Israel. Many Israelis are also eager to visit the Philippines and go to Boracay and Palawan. It symbolizes the very closed, historic, and friendly relations between our two countries. It will facilitate conducting business, investments and will strengthen the people-to-people contacts,” Israel Ambassador Rafael Harpaz said.

Data from the Ministry of Tourism showed that the number of Filipino tourists who visited Israel reached 34,100 in 2019.

Talks with Maynilad went well—DOJ chief

By Joel R. San Juan @jrsanjuan1573

J

USTICE Secretary Menardo I. Guevarra said on Tuesday there were no major contentions between the government review panel and Maynilad Water Services Inc. during initial discussions for the drafting of a new water concession agreement.

Guevarra described last Monday’s meeting between the parties as “smooth and easy.”

“Except for a few matters pertaining to Maynilad business plan, JICA [Japan International Cooperation Agency] loans, and public listing of shares, the parties are in agreement on the rest of the proposed new concession agreement with Maynilad, which takes off from a similar concession agreement with Manila Water,” he said.

The parties are expected to iron out kinks in their negotiations before the current concession agreement with Maynilad expires next year.

Last March, the government through the Metropolitan Waterworks and Sewerage System (MWSS) and Manila Water signed a new concession ag reement which is expected to pave the way for “better overall service and more reasonable charges to consumers.”

The Department of Justice chief made an assurance that certain provisions that are in the revised concession agreement with

Guevarra Manila Water would certainly be also part of the agreement with Maynilad.

These “non-negotiable” provisions included the removal of the non-interference clause, the nonchargeability of corporate income tax to consumers’ water bills, no government guarantees for future debts, conduct of an audit by the Commission on Audit, and a more transparent governance mechanism.

President Duterte pushed for the signing of new water concession agreements between the government and the two water concessionaires after discovering “onerous provisions” in the existing contracts and after the ruling of the Permanent Court of Arbitration (PCA) in Singapore. PCA issued a decision stating that the Philippine government should pay P7.4 billion to Manila Water and P3.4 billion to Maynilad for the losses they incurred from an unenforced water rate hike.

B2

Companies BusinessMirror

Wednesday, May 5, 2021

DMCI allots ₧10.5B for new condo project in Quezon City

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By VG Cabuag

@villygc

MCI Homes Inc. on Tuesday said it is investing some P10.5 billion to build the Oriana, a two-tower residential condominium development along Aurora Boulevard in Quezon City.

With the development, the property arm of listed firm DMCI Holdings Inc. is aiming to attract both end-users and investors looking to be part of Quezon City district with high growth prospects, owing to the area’s advantageous location near business centers, top universities, and existing and upcoming transportation infrastructures.

Sitting at the center of a transitoriented community, the 9,314 square meter property is served well by public transport that in-

cludes train terminals like the Anonas and Katipunan stations of the Recto Avenue-Masinag, Antipolo LRT Line and the proposed Anonas station of the highly anticipated Metro Manila Subway system.

“We launched Oriana in response to the demand for homes in communities where schools, work places, supermarkets, healthcare institutions, leisure zones and transportation networks are all within walking distance,” DMCI

Homes Vice President for Project Development Dennis Yap said.

This is the second residential venture of DMCI Homes along Aurora Boulevard after Infina Towers, also a two-tower residential project.

“Even before the pandemic, there has been a big demand for homes and rental properties in transit-oriented communities.

More so now with people putting a premium on their health and wellbeing because of the health crisis,” Yap said.

The project will have two towers, the North and South towers, which have 54 and 56 floors of residential units respectively.

The North Tower, which was launched in April, will offer 1,242 units—all two-bedroom layouts measuring 54.5 square meters to 81.5 square meters An initial inventory of 552 units have been released for pre-selling, with a starting price of P6.7 million.

Ideal as first home or rental property investment, the units will have space-efficient layouts and

functional features such as bigger windows and doors; with daybed or balcony layout; sliding door partitions to maximize lighting inside the units; balcony glass railings; and provision for split-type airconditioning unit.

The Oriana will also have amenities that cater to different lifestyles and age groups, such as reception lounge, entertainment room, game area, fitness gym and Sky Lounge.

A Sky Bridge will be constructed to connect the two towers so residents can share and enjoy the roof-deck amenities.

Residents will have a property management office as well as a number of essential indoor facilities such as a flexible co-working space, convenience store, laundry station, water station and garbage chute feature to cater to the residents’ everyday chores and needs.

The company said the property’s North Tower will be ready for moveins starting April 2026. Available units are now preselling starting from P17,000 per month.

ERC: No interest on delayed FIT payments for 6 months

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he Energy Regulatory Commission (ERC) has imposed a moratorium on interest for delayed payment of FIT (Feed-in-Tariff) revenue owed by the government to renewable energy (RE) players.

In a public advisory, the ERC declared a sixmonth moratorium on the imposition of interest for the partial or delayed payment of the actual FIT revenue to the eligible RE power facilities.

The moratorium takes effect from the relevant billing period wherein the interest or penalty had first been incurred, if such moratorium has not yet been in place.

During the period of the moratorium, eligible RE plants shall not impose any interest or penalty for any partial or delayed payment of the actual FIT revenue to them by the National Transmission Corp. (TransCo).

This move is meant to promote public interest due to the severe effects of the Covid-19 pandemic, said the ERC. Under the rules, when payments are delayed for the RE developers, they are entitled to interest. With the ERC advisory, if TransCo incurs delay in paying the RE players, no interest will be imposed. “Bottom line, savings for the consumers. Under the rules also, those interest are pass on to consumers,” said ERC Commissioner Rexie Digal.

The FIT-All mechanism was established pursuant to the Renewable Energy Act of 2008, which aims to spur the development of emerging renewable power sources such as wind, solar, run-of-river hydro, and biomass facilities.

The FIT-All is a uniform charge billed to all on-grid electricity consumers, reflected as a separate component in monthly electricity bills, to cover payments to RE developers who are assured of a fixed rate per kWh for electricity generated by their projects over 20 years.

Distribution utilities, the National Grid Corp. of the Philippines (NGCP), and Retail Electricity Suppliers (RES) serve as collecting agents, and the proceeds go to the FIT-All Fund, which is being administered by TransCo. TransCo, for its part, is the agency that pays the RE developers. It is tasked to make an annual determination of the FIT-All rate and file its application with the ERC not later than end of July each year for the FIT-All rate that will be implemented for the following year.

However, there are delays in payments because TrasnCo’s applications have yet to be approved by the ERC. TransCo’s latest FIT-ALL application is for 2021 amounting to 18.81 centavos per kilowatthour (kwh). Lenie Lectura

mutual funds

May 4, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 204.73 8.93% -7.45% -3.77% -9.9% ATRAM Alpha Opportunity Fund, Inc. -a 1.2731 31.8% -6.55% 1.39% -3.04% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8121 11.24% -11.98% -5.99% -10.24% Climbs Share Capital Equity Investment Fund Corp. -a 0.7234 11.79% -7.36% n.a. -10.01% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6773 1.85% -6.56% n.a.

-8.67% First Metro Save and Learn Equity Fund,Inc. -a 4.5108 10.38% -5.31% -2.82% -8.71% -9.03% -7.67% -14.92% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6464 1.64% MBG Equity Investment Fund, Inc. -a 95.72 27.25% -5.86% n.a.

-6.1% PAMI Equity Index Fund, Inc. -a 41.9622 11.53% -5.52% -2.46% -10.43% Philam Strategic Growth Fund, Inc. -a 440.28 9.08% -5.63% -2.99% -9.96% Philequity Alpha One Fund, Inc. -a,d,5 1.0198 19.21% n.a. n.a.

-7.06% Philequity Dividend Yield Fund, Inc. -a 1.0837 12.36% -4.74% -1.73% -7.23% Philequity Fund, Inc. -a 31.5956 11.92% -5% -1.43% -9.13% Philequity MSCI Philippine Index Fund, Inc. -a 0.8157 9.31% n.a. n.a. -10.66% Philequity PSE Index Fund Inc. -a 4.2992 12.21% -4.96% -1.68% -10.27% 719.04 Philippine Stock Index Fund Corp. -a 12.27% -4.87% -1.83% -10.3% Soldivo Strategic Growth Fund, Inc. -a 0.6524 11.71% -9.31% -5.26% -9.25% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2615 8.52% -7.17% -3.2% -10% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8212 11.68% -5.23% -1.96% -10.52% United Fund, Inc. -a 3.0392 11.44% -4.74% -0.6% -8.43% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 96.4769 12.35% -4.68% -1.15% -10.3% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.2641 39.16% 5.08% 8.52% 5.09% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7728 41.8% 11.72% n.a.

5.98% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6173 8.38% -1.46% -1.27% -3.07% ATRAM Philippine Balanced Fund, Inc. -a 2.1329 8.64% -2.41% -0.69% -6.67% First Metro Save and Learn Balanced Fund Inc. -a 2.4775 6.04% -1.17% -1.36% -5.69% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1855 -0.22% n.a. n.a. -6.6% NCM Mutual Fund of the Phils., Inc. -a 1.8813 5.83% 0.62% 0.66% -4.21% PAMI Horizon Fund, Inc. -a 3.5081 5.66% -0.83% -0.71% -7.39% Philam Fund, Inc. -a 15.7341 6% -0.74% -0.67% -7.1% Solidaritas Fund, Inc. -a 1.9661 6.66% -1.83% -0.5% -6.11% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3345 6.02% -3.16% -1.72% -6.68% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9517 5.74% n.a. n.a.

-6.93% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.854 7.23% n.a. n.a. -10.03% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8366 8.14% n.a. n.a. -10.34% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8222 6.04% -4.28% -2.38% -7.38% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03797 0.05% 2.73% 1.3% -2.94% PAMI Asia Balanced Fund, Inc. -b $1.142 22.85% 2.77% 5.11% -0.71% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7029 30.56% 8.91% 8.67% 4.21% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2093 15.97% 4.77% n.a.

0.6% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 370.84 2.34% 3.13% 2.53% -0.06% ATRAM Corporate Bond Fund, Inc. -a 1.9113 -0.9% 0.89% 0.11% 0.58% Cocolife Fixed Income Fund, Inc. -a 3.2224 1.72% 3.95% 4.45% 0.24% Ekklesia Mutual Fund Inc. -a 2.2563 -0.58% 2.25% 1.61% -1.73% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4307 0.59% 3.13% 1.76% -0.92% Philam Bond Fund, Inc. -a 4.4705 -0.28% 4.12% 1.76% -3.54% Philam Managed Income Fund, Inc. -a,6 1.3202 3.43% 4.25% 2.73% -0.08% Philequity Peso Bond Fund, Inc. -a 3.9629 2.6% 4.41% 2.53% -0.95% Soldivo Bond Fund, Inc. -a 1.0256 0.82% 4.13% 1.72% -1.57% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1827 2.22% 4.97% 2.81% -0.73% Sun Life Prosperity GS Fund, Inc. -a 1.736 0.78% 4.26% 2.13% -1.08% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.53 3.34% 3.07% 2.36% -0.07% ALFM Euro Bond Fund, Inc. -a Є219.7 2.75% 1.04% 1.23% 0.24% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1725 -1.05% 1.67% 1.06% -8.43% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 0.78% 1.46% 0.95% -2.63% PAMI Global Bond Fund, Inc -b $1.0501 0.21% 0.5% -0.6% -3.9% Philam Dollar Bond Fund, Inc. -a $2.4798 4% 4.76% 2.2% -2.2% Philequity Dollar Income Fund Inc. -a $0.0626883 5.23% 3.47% 2.2% 0.59% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1361 -0.64% 2.61% 1.04% -2.71% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.99 2.1% 3.14% 2.52% 0.14% First Metro Save and Learn Money Market Fund, Inc. -a 1.0508 1.33% n.a. n.a.

0.26% 2.88% Sun Life Prosperity Money Market Fund, Inc. -a 1.3027 1.97% 2.57% 0.47% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0566 1.47% 1.73% n.a.

0.4% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2271 n.a. n.a. n.a. 8.63% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 10% n.a. n.a.

1.02% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"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, 2021

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

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

43.5 104.5 82.2 24.8 9.5 45 9.53 21.55 28.4 55.6 18.28 113.7 73.45 1.45 3.9 3.12 1.48 0.395 0.7 152.1 2,400

44 104.8 82.25 25 9.55 45.05 10.4 23.25 28.5 56 18.3 115 73.5 1.48 3.94 3.15 1.52 0.42 0.71 159.7 2,490

43.5 104 82.05 25.1 9.83 45 9.52 22.1 30.15 56.65 18.28 115 73.3 1.5 3.95 3.16 1.52 0.395 0.71 157.1 2,344

43.75 105.2 82.5 25.1 9.85 45.05 9.52 23.3 30.5 56.65 18.32 115 73.5 1.5 3.95 3.16 1.52 0.42 0.72 160 2,498

43.5 103.6 82 24.6 9.47 44.5 9.52 22 28 55.6 18.28 113.5 73.3 1.45 3.9 3.15 1.51 0.395 0.7 152 2,344

43.75 104.8 82.25 24.8 9.55 45.05 9.52 22 28.4 55.6 18.28 115 73.45 1.45 3.94 3.15 1.51 0.42 0.7 152.1 2,498

700 681,850 878,710 328,400 173,500 3,320,500 1,800 31,000 2,878,300 4,590 213,300 263,380 29,320 275,000 124,000 31,000 22,000 260,000 211,000 66,160 575

30,600 71,327,014 72,249,527.50 8,157,065 1,656,578 149,181,280 17,136 682,140 82,907,075 257,026 3,899,612 30,146,767 2,152,475 404,370 485,750 97,910 33,270 102,950 148,720 10,551,625 1,366,950

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MAXS GROUP MG HLDG SHAKEYS PIZZA ROXAS AND CO ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED LMG CORP PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

6.89 1.33 22.95 0.8 31.3 67.85 272.2 15 3.5 3.85 12.14 21.6 10.34 6.59 3 13.06 19.6 13.34 7.37 9.79 65 0.61 1.4 57.5 177 29.15 5.9 0.295 7.3 1.01 1.42 0.137 131.4 0.82 2.41 60.15 1.15 2.72 11.7 7.21 5.5 6.67 12.3 1.12 2.5 1.83 1.93 4.5 5.4 21.7 3.82 10 1.06 5.61 1.3 5.94

6.92 1.34 23 0.81 31.4 69.7 272.4 15.02 3.51 4 12.4 21.75 10.38 6.7 3.03 13.08 19.76 13.38 7.38 9.8 66 0.63 1.42 57.95 177.1 30.95 5.95 0.3 7.39 1.02 1.49 0.138 131.5 0.83 2.5 62.9 1.16 2.74 11.98 7.4 5.55 6.75 12.36 1.15 2.51 1.85 1.97 4.88 5.45 21.8 3.83 10.04 1.07 5.8 1.31 5.95

6.95 1.36 23.1 0.86 31.1 67.2 272.6 14.94 3.4 3.81 12.36 21.05 10.4 6.81 3.2 13.08 20.2 13.3 7.39 9.85 66.5 0.61 1.43 57.2 179 31.8 5.96 0.315 7.39 1.01 1.45 0.137 133.5 0.84 2.48 62.95 1.19 2.81 12.14 7.4 5.55 6.8 12.02 1.15 2.76 1.84 2 4.6 5.33 22.25 3.79 10.08 1.08 5.61 1.3 6.13

7.08 1.37 23.5 0.86 31.45 70 274.8 15.04 3.56 4 12.48 21.7 10.4 6.81 3.2 13.08 20.2 13.78 7.41 9.85 66.5 0.61 1.44 58 179.5 31.8 6 0.315 7.39 1.06 1.45 0.139 133.5 0.84 2.51 62.95 1.19 2.83 12.14 7.45 5.55 6.84 12.34 1.15 2.76 1.88 2 4.65 5.45 22.25 3.86 10.08 1.08 5.61 1.31 6.13

6.89 1.34 22.9 0.78 31.05 67.2 272.4 14.94 3.39 3.81 12.14 21.05 10.32 6.61 2.98 13.08 19.6 12.8 7.28 9.72 64.85 0.61 1.39 57 176.5 29.05 5.9 0.29 7.23 1.01 1.42 0.135 131.4 0.82 2.4 60.1 1.15 2.7 11.98 7.4 5.43 6.65 12 1.12 2.5 1.83 1.93 4.6 5.33 21.65 3.7 9.92 1.06 5.61 1.3 5.91

6.89 1.35 23 0.8 31.3 67.85 272.4 15.02 3.5 4 12.4 21.5 10.38 6.7 3.03 13.08 19.6 13.34 7.38 9.8 65 0.61 1.42 57.95 177 29.05 5.95 0.295 7.3 1.02 1.42 0.138 131.5 0.83 2.5 62.9 1.15 2.72 11.98 7.4 5.55 6.67 12.34 1.15 2.5 1.85 1.93 4.65 5.45 21.7 3.83 10 1.06 5.61 1.31 5.95

33,560,900 1,425,000 1,988,100 161,670,000 248,000 38,610 79,190 2,741,700 2,365,000 13,000 103,200 93,500 96,800 2,014,900 2,066,000 700 1,396,900 618,500 693,200 1,902,500 47,920 4,032,000 8,665,000 55,990 432,070 1,100 92,200 8,050,000 31,100 1,382,000 70,000 2,550,000 310,210 573,000 519,000 1,300 1,407,000 2,124,000 88,000 41,800 447,600 343,900 60,700 394,000 17,050,000 112,000 67,000 2,000 35,500 12,200 13,736,000 1,444,600 147,000 2,000 47,000 987,500

5,247,007 -23,767,701.50 -9,980 -1,006,306 -97,966,385 -22,886,255 -10,289,708 -183,550 -50,510 10,465,853 -

233,792,029 1,923,450 45,895,460 131,495,380 7,728,450 2,626,906.50 21,598,510 41,150,932 8,231,040 50,560 1,281,062 2,004,955 1,002,742 13,414,460 6,306,830 9,156 27,603,336 8,203,144 5,103,549 18,580,046 3,123,657 2,459,520 12,253,410 3,232,956 76,727,195 34,075 545,881 2,404,250 227,062 1,416,960 100,420 347,940 40,867,684 472,030 1,284,650 79,275 1,634,910 5,806,460 1,056,388 309,773 2,470,991 2,318,275 741,888 447,060 44,051,100 206,220 129,970 9,250 191,625 266,740 52,326,120 14,401,746 156,560 11,220 61,560 5,906,579

96,658,649 -5,877,075 931,170 1,315,745 -1,144,856 -10,877,406 -9,734,962 947,680 -74,160 831,035 6,206 60,400 -3,204,682 141,648 871,206 -6,494,074 -121,476 -291,540 1,069,442 -14,779,850 136,475 35,560 -30,350 -28,830,668 -181,810.00 67,660 1,528,122 357,148 -24,600 1,126,450 0 128,105 -1,531,130 -9,736,197 26,200 64,438

HOLDING & FRIMS ABACORE CAPITAL 1.05 1.06 1.09 1.1 1.05 1.05 29,445,000 31,258,830 ASIABEST GROUP 7.1 7.3 7.47 7.47 7.3 7.3 1,100 8,047 751.5 754 750 756 750 754 75,950 57,225,480 AYALA CORP 35.6 35.75 35.8 36.25 35.6 35.75 707,100 25,313,975 ABOITIZ EQUITY ALLIANCE GLOBAL 10.5 10.52 10.52 10.64 10.44 10.52 1,106,000 11,648,250 2.99 3 3.15 3.16 2.99 3 3,516,000 10,658,570 AYALA LAND LOG 0.8 0.81 0.86 0.87 0.8 0.81 4,995,000 4,124,740 ANGLO PHIL HLDG ATN HLDG A 0.7 0.71 0.7 0.72 0.69 0.71 1,685,000 1,182,340 0.7 0.73 0.71 0.71 0.71 0.71 300,000 213,000 ATN HLDG B COSCO CAPITAL 4.98 5 5.09 5.09 4.96 5 894,500 4,469,321 DMCI HLDG 5.35 5.36 5.36 5.36 5.33 5.36 4,599,200 24,610,688 8 8.19 8.19 8.2 8 8.2 18,000 145,470 FILINVEST DEV 2.92 3.25 3.01 3.01 3.01 3.01 1,000 3,010 FJ PRINCE A FORUM PACIFIC 0.29 0.31 0.295 0.32 0.29 0.31 5,330,000 1,619,000 GT CAPITAL 520 525 531 532 520 520 89,530 46,847,130 3.65 3.73 3.78 3.78 3.78 3.78 1,000 3,780 HOUSE OF INV JG SUMMIT 52.4 52.45 52.75 53.15 52.3 52.45 475,570 25,003,311 KEPPEL HLDG B 4.33 6.15 4.31 4.31 4.31 4.31 1,000 4,310 0.91 0.92 0.96 0.97 0.87 0.91 7,567,000 6,889,370 LODESTAR LOPEZ HLDG 3.4 3.42 3.47 3.48 3.39 3.4 1,555,000 5,287,270 LT GROUP 13.2 13.28 13.4 13.4 13.06 13.28 3,132,600 41,791,622 0.465 0.485 0.475 0.475 0.47 0.47 140,000 65,900 MABUHAY HLDG METRO PAC INV 4.05 4.1 4.06 4.1 4.03 4.1 5,777,000 23,525,950 PACIFICA HLDG 3.53 3.6 3.6 3.6 3.6 3.6 16,000 57,600 2.72 2.75 2.71 2.83 2.71 2.73 1,314,000 3,579,270 PRIME MEDIA 1.2 1.26 1.28 1.28 1.2 1.2 171,000 205,930 SOLID GROUP SM INVESTMENTS 958.5 960 965 968.5 957.5 960 184,950 177,817,210 115.5 115.9 115.9 115.9 115 115.9 41,420 4,788,767 SAN MIGUEL CORP 0.68 0.7 0.68 0.68 0.68 0.68 200,000 136,000 SOC RESOURCES TOP FRONTIER 129.2 131.6 134.4 134.4 129.2 129.2 11,530 1,498,588 0.25 0.26 0.255 0.26 0.255 0.255 1,420,000 363,450 WELLEX INDUS ZEUS HLDG 0.237 0.24 0.26 0.26 0.235 0.24 15,030,000 3,671,600

920,230 -4,380 -10,437,325 -9,723,380 -3,250,588.00 2,471,280 2,090 -2,140,982.00 2,680,599 -3,280.00 -11,389,355 1,929,887.50 107,040 -7,339,382 8,002,900.00 553,620 31,239,425 -1,863,065 -321,770

PROPERTY ARTHALAND CORP 0.63 0.64 0.65 0.65 0.63 0.63 688,000 438,460 ANCHOR LAND 7.63 8.14 8.17 8.17 8.14 8.14 200 1,631 31.8 31.85 32.45 32.5 31.85 31.85 17,640,300 565,848,290 AYALA LAND 1.2 1.25 1.26 1.26 1.26 1.26 1,000 1,260 ARANETA PROP AREIT RT 34 34.15 34.45 34.45 34 34.15 835,300 28,532,395 1.39 1.4 1.44 1.49 1.39 1.4 225,000 318,050 BELLE CORP 0.9 0.91 0.95 0.95 0.9 0.91 1,972,000 1,801,010 A BROWN CITYLAND DEVT 0.94 0.95 0.91 0.95 0.91 0.94 1,251,000 1,168,850 0.127 0.13 0.129 0.132 0.127 0.131 2,990,000 387,380 CROWN EQUITIES 6.2 6.21 6.62 6.62 6.21 6.21 111,300 698,568 CEBU HLDG CEB LANDMASTERS 5.74 5.75 5.88 5.88 5.7 5.75 599,800 3,439,445 0.4 0.41 0.4 0.41 0.4 0.41 2,730,000 1,109,700 CENTURY PROP 0.32 0.33 0.33 0.33 0.32 0.325 3,320,000 1,077,700 CYBER BAY DOUBLEDRAGON 12.5 12.74 12.72 12.8 12.42 12.74 1,362,400 17,202,652 DDMP RT 1.9 1.91 2 2.02 1.9 1.9 67,627,000 130,688,410 6.86 6.88 6.88 6.9 6.88 6.88 3,015,500 20,805,866 DM WENCESLAO EMPIRE EAST 0.275 0.285 0.285 0.285 0.285 0.285 10,000 2,850 EVER GOTESCO 0.209 0.21 0.218 0.218 0.19 0.21 95,220,000 19,360,730 1.11 1.12 1.11 1.12 1.09 1.11 4,991,000 5,521,000 FILINVEST LAND GLOBAL ESTATE 0.82 0.85 0.85 0.85 0.82 0.82 12,000 9,870 8990 HLDG 7.13 7.36 7.11 7.36 7.11 7.36 10,800 77,304 1.32 1.33 1.32 1.33 1.3 1.32 626,000 824,060 PHIL INFRADEV CITY AND LAND 2.04 2.05 1.82 2.05 1.82 2.04 14,981,000 29,694,510 MEGAWORLD 3.05 3.06 3.16 3.16 3.06 3.06 27,135,000 83,542,010 0.425 0.43 0.445 0.465 0.42 0.43 73,650,000 32,487,750 MRC ALLIED PHIL ESTATES 0.54 0.55 0.6 0.6 0.54 0.54 23,216,000 13,023,560 PRIMEX CORP 3.41 3.43 3.5 3.5 3.36 3.41 4,457,000 15,181,030 16.3 16.32 16.3 16.4 16.28 16.3 957,200 15,612,016 ROBINSONS LAND 0.248 0.26 0.25 0.25 0.248 0.248 590,000 147,040 PHIL REALTY ROCKWELL 1.48 1.56 1.55 1.55 1.49 1.49 295,000 442,150 2.6 2.69 2.65 2.69 2.61 2.69 47,000 123,080 SHANG PROP STA LUCIA LAND 2.22 2.32 2.23 2.26 2.22 2.26 60,000 134,760 SM PRIME HLDG 34.15 34.2 34.6 34.6 34.15 34.2 4,032,500 138,247,045 3.73 3.86 3.73 3.89 3.73 3.73 42,000 156,950 VISTAMALLS SUNTRUST HOME 1.48 1.49 1.46 1.49 1.46 1.49 240,000 352,650 VISTA LAND 3.48 3.5 3.56 3.56 3.49 3.49 2,122,000 7,457,750

SERVICES ABS CBN 10.94 11 11.02 11.18 11 11 33,700 371,178 GMA NETWORK 7.93 7.94 7.81 7.97 7.78 7.93 1,734,100 13,700,634 9.36 10.26 10.98 10.98 9.33 10.26 2,000 18,918 MLA BRDCASTING GLOBE TELECOM 1,824 1,825 1,854 1,854 1,825 1,825 56,320 103,185,725 PLDT 1,258 1,260 1,269 1,270 1,256 1,260 38,095 48,019,790 0.191 0.192 0.197 0.199 0.187 0.191 510,110,000 97,949,880 APOLLO GLOBAL 19 19.04 19.1 19.56 18.8 19 8,988,700 172,194,342 CONVERGE DFNN INC 4 4.01 4.03 4.21 3.93 4.01 1,324,000 5,426,190 9.63 9.64 9.96 9.96 9.51 9.63 16,071,600 156,276,294 DITO CME HLDG 1.55 1.81 1.53 1.81 1.5 1.81 5,000 7,890 IMPERIAL JACKSTONES 2.34 2.38 2.39 2.4 2.34 2.38 86,000 202,540 2.64 2.65 2.68 2.69 2.62 2.64 1,427,000 3,772,620 NOW CORP 0.385 0.39 0.41 0.415 0.39 0.39 14,500,000 5,777,700 TRANSPACIFIC BR PHILWEB 2.58 2.62 2.65 2.65 2.55 2.62 541,000 1,393,260 2GO GROUP 8.3 8.36 8.37 8.37 8.25 8.36 8,100 67,213 15.7 15.8 15.78 15.78 15.7 15.7 1,297,100 20,365,030 ASIAN TERMINALS CHELSEA 2.98 3.03 3.02 3.14 2.98 2.98 1,193,000 3,629,310 CEBU AIR 48.05 48.15 48.45 48.5 48 48.05 157,500 7,567,815 130.1 130.6 129.4 130.9 129.4 130.1 1,995,420 259,681,983 INTL CONTAINER LBC EXPRESS 16 16.78 16 17.08 16 16.8 5,000 80,288 MACROASIA 4.8 4.84 4.93 4.93 4.75 4.84 864,000 4,192,680 2.21 2.28 2.25 2.39 2.2 2.28 189,000 424,280 METROALLIANCE A METROALLIANCE B 2.3 2.4 2.3 2.3 2.3 2.3 3,000 6,900 PAL HLDG 6.13 6.14 6.1 6.15 6.1 6.14 77,200 473,944 1.26 1.27 1.32 1.32 1.25 1.26 1,558,000 1,979,930 HARBOR STAR ACESITE HOTEL 1.58 1.66 1.8 1.8 1.58 1.58 490,000 787,360 BOULEVARD HLDG 0.094 0.095 0.097 0.101 0.092 0.095 245,120,000 23,508,140 3.2 3.25 3.16 3.3 3.1 3.25 160,000 505,490 DISCOVERY WORLD WATERFRONT 0.55 0.56 0.6 0.6 0.55 0.55 7,874,000 4,466,250 IPEOPLE 6.92 8 6.02 8 6.02 8 800 5,554 0.365 0.375 0.365 0.365 0.365 0.365 160,000 58,400 STI HLDG 4.79 4.9 4.79 4.79 4.7 4.79 54,000 258,120 BERJAYA BLOOMBERRY 6.39 6.4 6.55 6.6 6.37 6.4 11,210,100 71,750,529 2.04 2.05 2.04 2.04 2.04 2.04 4,000 8,160 PACIFIC ONLINE LEISURE AND RES 1.54 1.55 1.55 1.62 1.51 1.55 709,000 1,086,330 MANILA JOCKEY 2.1 2.14 2.09 2.1 2.09 2.1 23,000 48,220 1.95 1.96 2.04 2.04 1.92 1.95 3,769,000 7,382,950 PH RESORTS GRP 0.4 0.405 0.4 0.41 0.4 0.4 1,920,000 774,750 PREMIUM LEISURE PHIL RACING 5.9 6 5.9 5.9 5.9 5.9 36,000 212,400 ALLHOME 7.76 7.77 7.75 7.88 7.75 7.77 88,900 691,955 1.28 1.29 1.3 1.3 1.28 1.29 2,247,000 2,881,330 METRO RETAIL PUREGOLD 37.35 37.5 37.5 37.5 36.6 37.5 579,200 21,559,110 ROBINSONS RTL 52 52.65 52.85 53 52 52 494,940 25,940,886 107.4 108.4 108 108.5 107.4 108 120,990 13,079,427 PHIL SEVEN CORP SSI GROUP 1.19 1.2 1.2 1.21 1.19 1.2 567,000 679,150 WILCON DEPOT 17.9 18 18 18 17.8 18 206,800 3,713,416 0.39 0.395 0.39 0.39 0.38 0.39 2,750,000 1,064,000 APC GROUP EASYCALL 6.23 6.57 6.58 6.59 6.58 6.58 1,200 7,905 IPM HLDG 4.95 5.1 5.1 5.1 5.1 5.1 100 510 2.06 2.07 2.19 2.19 2.03 2.06 19,415,000 40,428,800 PRMIERE HORIZON

-110,159,950 3,962,695 -254,650 18,200 6,400 646 -78,478 -12,200 184,972 -3,914,410 -352,256 578,930 -263,880 -15,760 -390,680.00 -44,464,210 497,100 53,450.00 8,317,240 -3,670,864.00 -381,880 -51,464,545 -263,330 -29,253,550 -31,077,940 783,950 -13,873,500 2,195,640 907,770.00 132,860 32,200 45,610 4,138,745 30,538,519 559,800 -20,220 -869,770 1,090,410.00 3,650 3,551,302 63,820.00 112,000 -159,297 159,440 -5,702,695.00 4,142,344.50 364,092 -173,540 2,408,532 647,220

MINING & OIL ATOK 8.51 8.52 8.87 9 8.5 8.52 939,500 8,139,721 -278,084 1.65 1.66 1.69 1.73 1.64 1.65 7,967,000 13,441,580 -103,160 APEX MINING 7.86 7.88 8.16 8.47 7.77 7.88 3,980,000 31,917,233 1,296,832.00 ATLAS MINING BENGUET A 2.99 3.18 3.08 3.19 3.05 3.18 262,000 803,810 3.02 3.14 3.16 3.16 3.16 3.16 10,000 31,600 BENGUET B COAL ASIA HLDG 0.32 0.325 0.32 0.32 0.32 0.32 170,000 54,400 CENTURY PEAK 2.8 2.9 2.9 2.9 2.9 2.9 41,000 118,900 101,500 7.25 7.39 7.59 7.59 7.25 7.4 7,300 54,735 DIZON MINES FERRONICKEL 2.49 2.52 2.69 2.69 2.46 2.52 6,320,000 16,176,240 2,621,970 GEOGRACE 0.375 0.38 0.43 0.43 0.375 0.38 13,220,000 5,215,800 0.18 0.182 0.192 0.198 0.176 0.18 229,890,000 42,451,430 LEPANTO A LEPANTO B 0.186 0.19 0.199 0.207 0.184 0.195 5,310,000 1,036,800 -85,190 MANILA MINING A 0.014 0.015 0.015 0.015 0.013 0.014 619,300,000 8,720,500 MANILA MINING B 0.014 0.015 0.016 0.016 0.014 0.014 50,000,000 743,400 7,500 1.28 1.3 1.35 1.38 1.26 1.3 2,102,000 2,750,110 17,080 MARCVENTURES NIHAO 1.47 1.49 1.6 1.6 1.43 1.49 3,410,000 5,166,200 6,200 NICKEL ASIA 5.5 5.52 5.66 5.74 5.39 5.52 11,078,500 61,062,318 23,894,052 0.4 0.415 0.435 0.465 0.39 0.415 4,300,000 1,845,150 OMICO CORP ORNTL PENINSULA 0.93 0.97 1.01 1.03 0.94 0.97 2,520,000 2,458,340 -34,690 PX MINING 6.56 6.58 6.8 7.09 6.38 6.58 9,471,200 63,715,882 4,405,989 12.42 12.46 12.5 12.56 12.38 12.42 608,500 7,580,600 1,373,126 SEMIRARA MINING UNITED PARAGON 0.01 0.011 0.012 0.012 0.01 0.011 284,400,000 3,139,500 11,000 ACE ENEXOR 16.98 17 18 18 15.6 17 1,101,800 18,547,076 914,368.00 0.011 0.012 0.012 0.013 0.011 0.012 169,500,000 2,033,100 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 62,600,000 751,200 6,000 PHILODRILL 0.012 0.013 0.013 0.013 0.012 0.012 91,300,000 1,096,300 7.34 7.5 7.57 7.57 7.3 7.5 1,663,700 12,432,812 407,850 PXP ENERGY

PREFFERED HOUSE PREF A 100.6 101.5 101.5 101.5 101.5 101.5 10 1,015 CEB PREF 44.4 44.5 44.35 45 44.35 44.4 70,100 3,118,515 634,610 103.5 104 103.5 103.5 103.5 103.5 60 6,210 CPG PREF A GTCAP PREF B 1,032 1,046 1,035 1,035 1,030 1,030 2,660 2,751,595 MWIDE PREF 101.4 102.1 102 102.1 102 102.1 20,600 2,103,200 10,200 101.3 101.8 101.3 101.3 101.3 101.3 30,440 3,083,572 MWIDE PREF 2B PNX PREF 3B 101.2 104 104 104 101 104 25,320 2,568,620 1,030 PNX PREF 4 1,005 1,006 1,002 1,006 1,002 1,006 5,790 5,816,920 1,100 1,117 1,117 1,118 1,117 1,118 60 67,065 PCOR PREF 3A PCOR PREF 3B 1,140 1,155 1,145 1,155 1,145 1,155 125 143,875 SMC PREF 2C 79.15 79.5 79.85 79.85 79.1 79.5 4,460 354,432.50 76.2 77 77 77 76.2 76.2 27,200 2,075,497.50 SMC PREF 2E SMC PREF 2F 79.15 79.2 78.7 79.15 78.7 79.15 34,300 2,711,830 SMC PREF 2H 77.15 77.5 77.15 77.15 77.15 77.15 1,000 77,150 SMC PREF 2I 78 78.95 78 78 78 78 1,000 78,000 76 77 76 76 76 76 106,800 8,116,800 - SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.52 10.88 10.52 10.52 10.52 10.52 100 1,052 GMA HLDG PDR 7.46 7.5 7.37 7.5 7.37 7.5 302,500 2,251,278 -1,187,140

WARRANTS LR WARRANT 1.76 1.79 1.85 1.87 1.72 1.79 2,493,000 4,481,410 5,310

SMALL & MEDIUM ENTERPRISES ALTUS PROP 17.5 17.86 18 18.08 17.4 17.86 228,200 4,071,070 413,340 ITALPINAS 2.36 2.38 2.4 2.4 2.32 2.36 486,000 1,140,520 -7,090 5.24 5.25 5.45 5.45 5.25 5.25 12,200 64,442 KEPWEALTH MERRYMART 4.69 4.7 4.95 4.96 4.7 4.7 11,234,000 53,924,680 -735,090

EXHANGE TRADE FUNDS

FIRST METRO ETF 96.5 97.5 97 98 96.5 96.5 32,540 3,154,478 119,090

www.businessmirror.com.ph

Banking&Finance

House committee OKs Capital Market Devt bill

By Jovee Marie N. dela Cruz @joveemarie

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HE proposed Capital Market Development Act (CMDA), which seeks to establish a new private retirement and pension system, has secured another approval from a House of Representatives committee.

House Ways and Means Committee Chairman Joey Sarte Salceda moved to approve last Monday the tax provisions of the unnumbered substitute bill to House Bill 8938 or the Capital Market Development Act (CMDA).

The bill is expected to reach the plenary for debates when session resumes on May 17.

Despite approving without amendments, Salceda said his committee will work with the House Committee on Banks and Financial Intermediaries and the House Committee on Rules. Likewise, he said they would also talk to the chairman of the Capital Market Development Council to ensure that the bill is passed by the House “in a manner that maximizes benefits to workers without burdening businesses too heavily.”

The bill proposes the establishment of an employee pension and retirement income (EPRI) account from the proposed private retirement and pension system that is fully-funded and portable. The EPRI account shall be a permanent account until retirement, owned, maintained and managed by the employee, regardless of changes or transfer in employment. As a private pension system, the EPRI owner shall make all investment decisions pertaining to his EPRI assets.

The EPRI shall be compulsory to cover all employees and employers in the private sector; self-employed and professionals may opt for voluntary coverage.

According to Salceda, they will still have to determine the appropriate rates of contribution, given industry and labor concerns.

Under the current version, employers will pay 4 percent of a worker’s salary; the worker 1 percent of his or her salary, to the pension plan.

Micro, small, and medium enterprises (MSMEs) will only pay 2 percent of a worker’s salary; very small businesses with under three workers will be exempted.

“We are looking for the ‘Goldilocks spot’ on contribution rates. I am heavily considering the fact that businesses are still struggling with the COVID-19 pandemic. At the same time, current private pension plans are extremely inadequate for decent old age, and if we don’t do this reform soon, young workers won’t have any good retirement plan to look forward to,” Salceda said.

The measure also provides tax exemptions measures. Under the bill employer’s contribution made to the EPRI shall be allowed as a deductible expense of the employer. Counterpart employee contribution shall be subject to the necessary income tax.

Also it said all income of whatever nature earned by the EPRI, including interest and gains earned from the placements or investment of the EPRI assets, shall be exempt from all taxes. In case of transactions subject to the documentary stamp tax (DST), the DST shall be borne by the other party who is not exempt.

It added that all benefits and distribution received by the employee at the time of vesting or retirement shall be exempt from all taxes.

The bill also introduced the creation of a Capital Market Development Council (CMDC).

House Committee on Banks and Financial Intermediaries Chairman Rep. Junie E. Cua said the inclusion of the CMDC would institutionalize and capacitate the council which now only exists under a memorandum of agreement between the government and the private sector.

Moreover, Cua, principal author of the bill, said he filed the bill to provide retirement and pension system that is fully-funded, portable, more actuarially fair and stable that will enhance the current pension, at the same time, promoting and encouraging national savings and prudential investments on the part of employees.

He added he also filed the bill as the current private pension system has not developed.

“It has its own problems. Foremost of which, is the structure of the law and its implementing regulations,” Cua said. “Republic Act 7641 or the Retirement Pay Law of 1993, doesn’t require pensions to be prefunded; hence, pensions are paid out of pocket rather than built-up over the duration of employment, thus, no pool of investible assets is created.”

BusinessMirror

@BcuaresmaBM

T

HE Philippine Bank of Communications (PBCom) announced inking a partnership with Swiss banking software company Temenos AG to expand its mobile banking services amid the pandemic-induced shift to digital banking services worldwide.

The bank said the partnership will enable PBCom to deliver new mobile banking products and platforms to their

T

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury fully awarded P35 billion on offer for reissued 5-year Treasury Bonds (T-Bonds) on Tuesday’s auction which was met with strong demand as the market expects the Bangko Sentral ng Pilipinas (BSP) to make a policy rate cut in its next meeting.

The auction was oversubscribed by more than twice the P35-billion offering as tenders reached P75.7 billion.

With a remaining term of 4 years and 11 months, the security fetched an average rate of 3.295 percent, lower than the original coupon rate

of 3.375 percent set in April this year.

National Treasurer Rosalia V. De Leon expressed satisfaction over the good auction turnout.

“Good participation with tender more than twice our offer and rates within secondary level,” De Leon told reporters in a message.

To take advantage of the strong demand for the government securities, the auction committee also decided to open the tap facility for an additional P10 billion offering for the same tenor.

De Leon attributed the demand for the security to market expectations of a policy rate cut as well as the return of the country’s inflation rate within the target range of BSP. The BSP is scheduled to hold its next policy meeting on May 13. This

A

will be the BSP’s third monetary policy meeting for the year.

BSP Governor Benjamin E. Diokno said last Friday the country’s inflation rate in April is still likely above the government’s annual target range of 2 percent to 4 percent for the year.

Diokno said the country’s inflation likely settled between 4.2 percent and 5 percent in April this year based on the central bank’s forecasting models.

The Duterte government’s outstanding debt has reached a new record-high of P10.77 trillion as of end-March this year, up by 27.1 percent from P8.48 trillion a year ago.

The administration aims to borrow a total of P3.03 trillion this year, roughly the same amount it borrowed last year.

‘Gender bonds may help women during pandemic’

By Cai U. Ordinario

A

@caiordinario

S the pandemic forced many women to quit their jobs as well as worsened the care crisis in the region, experts are now calling for innovative financing to support women in these trying times.

In a session on the second day of the 54th ADB Annual Meeting of Governors on Tuesday, experts such as Women Entrepreneurs Finance Initiative (We-Fi) Secretariat Head Wendy Teleki said gender bonds could help women-led businesses recover from the pandemic.

Teleki said the lockdowns and the need to take care of family members at home has forced many women to give up their businesses. Many institutions also could not help as support for women entrepreneurs remained low.

“Capital markets resource mobilization is incredibly important to get the scale that we’re looking for and one of the big things for We-Fi is making sure we’re crowding in as much private capital to support women as possible and bonds are one of the really important innovations that we’ve been excited to support

with our multilateral development banks,” Teleki said.

“We’ve also seen the development of the standards around gender bonds recently and in our members are partners have played an important role in that and we see this as an important part of the future of financing for women entrepreneurs,” she added.

Teleki said 252 million women are engaged in entrepreneurship and a third of all formal small and medium enterprises are owned and led by women worldwide.

However, women owned firms average about half the size of male lead firms. These firms face significant financing constraints with an estimated $1.7 trillion financing gap.

Teleki also said Covid-19 “made a bad situation worse” because many women-led firms have seen sharper drops in revenue compared to maleled businesses.

She explained this was because women-led businesses were largely informal and concentrated in service industries.

“Many of the gains we had made to close the financing gap are faltering as financial institutions revert to

their traditional customer bases and that’s both on the debt side and on the equity side,” she added.

Apart from women entrepreneurs, International Labor Organization (ILO) Senior Specialist in Gender Joni Simpson said women workers also suffered significantly during the pandemic.

Simpson said women were “overrepresented” in industries that were significantly affected by the pandemic such as tourism, manufacturing, and trade. Areas where supply chains were significantly disrupted also affected more women.

She said globally women’s employment declined by five people compared to only 3.9 percent for men.

Majority of women whose employment suffered under the weight of the pandemic were forced to leave the labor force.

ADB Deputy Chief Economist Joseph E. Zveglich Jr. said many women dropped out of the labor force because of the need to take care of children who are now homeschooling and sick family members.

“A survey by UN women reported increased hours spent in unpaid care and domestic work at home, women were starting at

existing customers at a faster rate.

“With Temenos, we are building ‘digital-first’ banking services for our customers they can access via their mobile devices. The Temenos SaaS platform will enable us to bring new digital products and services to market much faster,” PBCom Chief Operating Officer (COO) John Howard D. Medina said.

Temenos Saas stands for Temenos Transact next-generation core banking Software-as-a-Service, the service that PBCom has availed from the Swiss com-

pany for its mobile app PBCOMobile.

PBCOm said they are also looking into leveraging Temenos’ application programming interface-first technology to pursue open banking initiatives, enabling third-party developers to create a digital ecosystem of products and services for PBCOM customers.

Medina further their partnership with the software company will enable them to “innovate easily” and “leverage the opportunities with open banking and financial ecosystems to create digital experiences

to help customers manage their money and improve their financial lives.”

Meanwhile, Temenos APAC and MEA President Jean-Paul Mergeai said their partnership with PBCOm is a ‘winning combination’ of localized banking functionality and advanced cloud technology.

“This is an exciting development in digital banking for the Philippines, and I look forward to seeing the bank continue to innovate, transforming the digital experience for individuals and businesses across the country,” Mergeai said.

Insular Life subsidiary launches high-end health product

subsidiary of Insular Life Assurance Co. Ltd. launched last month a product that targets the high-end market segment.

Its fully-owned subsidiary Insular Health Care (IHC) Inc. said in a statement last April 16, that “packs high medical benefits and more non-traditional lifestyle benefits that not all health plans carry.”

When asked for the creation of the solution, IHC President and CEO Noemi G. Azura was quoted in a statement as saying they “were inspired to respond to the changing customer demands.”

Azura explained the company engaged in a market research, which found that, because of the pandemic, “consumers now appreciate the value of good health and wellness and have rediscovered the value and importance

B3

Anticipated policy rate cut lifts demand for 5-yr bonds

PBCOM taps tech firm to expand mobile banking biz

By Bianca Cuaresma

Wednesday, May 5, 2021

of protection.”

“Consumers now try to lead healthy lifestyles and focus on prevention, and they are looking for comprehensive coverage that addresses their medical and health needs,” Azura said.

The solution the health maintenance organization calls “Privilege Care” offers a benefit limit of up to P5 million for inpatient care services and a fixed annual benefit limit of P100,000 for outpatient care services.

The HMO said the product includes access to IHC-accredited provider network nationwide and even allows members to get medical attention from facilities and doctors they prefer, even if they are outside IHC’s network.

“Moreover, Privilege Care has worldwide coverage. Members can access hospitals outside the country and get reimbursement for the medical

treatment they receive,” the company said. It added the product “further spotlights personal health care and convenience by incorporating diagnostic home services and a direct line to ‘Lifeline 16-911’ in case of emergency.”

IHC said it also partnered with Parkway Pantai, Singapore’s leading private health care provider, so that Privilege Care members can use their plans in Parkway hospitals including Mount Elizabeth Hospital and enjoy cashless transactions.

“Unlike a regular health plan, Privilege Care has built-in travel and life insurance. Its travel benefits involve assisting plan members with medical emergency situations abroad and smoothing out common travel inconveniences like flight delays, loss of belonging, and more,” the company said. The life insurance

benefit comes up to P200,000.

“We want to elevate the quality of life of our members, health and lifestyle-wise. So to make Privilege Care holistic and comprehensive, we partnered with Aspire Lifestyles and other wellness brands,” Azura said. “Privilege Care members can enjoy exclusive perks and services through ‘IHC Lifestyle Concierge.’”

Some of the services Privilege Care members may take advantage of are booking of rooms and cars, getting tickets for exclusive shows and concerts, gift-buying, delivery, etc. IHC’s Wellness Partners offer discounts to members, too.

“With Privilege Care, we bring customer delight front and center. We don’t take chances when it comes to our members’ health and wellness,” Azura added.

a much higher level the burden of child children’s education and care of sick family members will complicate women’s return to the workforce possibly reducing their already low labor force participation rate,” Zveglich said.

In a televised debate last Monday, Asakawa highlighted the need to look at the plight of women in the region.

Not only were their livelihoods affected but also domestic violence worsened because of the prolonged lockdown.

Because of the lockdowns, many of the women were forced to stay home with their abusers. Asakawa said this is lamentable and that ADB’s developing member countries must discuss ways to address gender based violence in the region.

Investing in people, he said, is also important especially when it comes to health. Asakawa agreed with Japan Governor and Deputy Prime Minister Taro Aso that UHC is necessary for the recovery.

Asakawa said these efforts could be coupled by investing in regional vaccine manufacturers especially in light of what is happening now with the very high demand for vaccines but small supply.

Insurtech start-up to give referral commission fees

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NSURANCE technology (insurtech) start-up Kwikinsure Corp. announced it will give commission payment to people who would refer clients.

Kwikinsure Founder and CEO Hamilton Angluben said this would encourage anyone with a digital platform to become an affiliate, who may share Kwik.insure and be rewarded with referral fees for every successful transaction.

“We hope to strengthen the insurance industry by tapping ordinary Filipinos—anyone who has access to a digital platform—to break the stigma and misconception about insurance,” Angluben said. “Through the program, we hope to encourage Filipinos to be our advocates, as learning is more effective when it comes from someone we trust or look up to.”

“We really have a long way to go, but we believe that through the affiliate program, we will be able to encourage more Filipinos to get insured, especially during these trying times,” he added.

Angluben noted that affiliates can earn as much as 10 percent of net premiums for each successful referral—depending on the type of insurance product purchased.

“We are creating a ‘win-win-win’ scenario where the client, affiliate and our company all benefit from the program.

The client gets insured by the top providers in the country, the affiliate earns from the referral fees, and our company gets to market more insurance products. Not only does it get more people insured, but it also provides an extra source of income for Filipinos,” Angluben said.

For his part, IC Commissioner Dennis B. Funa said the program is a step closer to boosting the confidence of Filipinos in insurance.

“We welcome the initiative of Kwikinsure to help increase the insurance awareness in the country and get more Filipinos insured. Having more people promoting the importance of insurance is a progressive strategy to uplift the industry as a whole. We wish them success on the launch of their affiliate program,” Funa said. Lorenz S. Marasigan

B4

Show BusinessMirror

Wednesday, May 5, 2021 • Editor: Gerard S. Ramos

SCION’S SCANDAL

The recent scandal involving the scion of a very wealthy family involves more than just problems in another company he’s involved in. What the scandal is about is the amount of money that’s owed to a lot of people because the scion overextended himself. The truth has been hushed-up by the family because it would be very embarrassing to everyone. The scion’s family had repeatedly warned him about his keeping a high profile all these years while most of them have been low-key. But he assured his father that he was OK, that things were under control. What has happened clearly shows that he was not under control.

HE’S HAD ENOUGH

The couple has been married for a while and they started a family when they were both young. The thing about the girl, who was once upon a time a promising actress, is that she got married with the thought of what an ideal relationship should be like.

Even the way she brought up her kids was aligned with her ideals. That’s because she grew up in a financially comfortable home and seemed like she was playing house in a different setting. She knew that whatever happens, she could count on her family for support. The guy, an actor, was someone who grew up in the School of Hard Knocks. No one knows why their marriage ended but what’s sure is that the guy seems to want nothing to do with his ex.

SHE’S MET HER MATCH

Speaking of marriages, it seems that the actress and her non-showbiz husband are over, at least based on how they’ve been acting. Any comments about this on their social-media pages are deleted and they won’t talk about each other at all. The actress is spoiled and seems to be hoping that her husband will woo her back. However, he isn’t the type to do so. His past girlfriends know that. He was with them for the long term but once he was done, he never looked back. It seems that the actress has met her match with the man she married, who is as spoiled as a little boy.

JUMPING SHIP

The actress is leaving the network that made her career, not because they aren’t treating her well but for other reasons. The actress feels that she’s on a sinking ship and while she’s grateful to her network for what it has done for her, she doesn’t want to sink with it.

That is her perception, of course. The network, on the other hand, does not care. To them, the actress is just one star they are obligated to give a project to and they have a lot of talents who are under contract with them. You can’t blame the network for thinking that way, just as you can’t blame the actress for looking for something better for her.

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LA prosecutors: Suspects tailed Lady Gaga’s dog walker

L

OS ANGELES—Three men drove around the Hollywood area in late February, on the prowl for expensive French bulldogs to steal, prosecutors said. Their night would end in gunfire—and the violent theft of pop star Lady Gaga’s beloved pets.

The robbery would prompt headlines around the world—and motivate the owners of French bulldogs to be wary during walks—with few clues made public about the case or the circumstances surrounding the dogs’ disappearance. The felony complaint, filed by prosecutors on Thursday in Los Angeles Superior Court and obtained by The Associated Press on Monday, gives some new details about the attack and what preceded it. Five people are charged in the case—the three men and two alleged accomplices— and all have pleaded not guilty.

The Lady Gaga connection was a coincidence, authorities have said. The motive was the value of the French bulldogs, a breed that can run into the thousands of dollars, and detectives do not believe the thieves knew the dogs belonged to the pop star.

The three men in the sedan—James Jackson, 18; Jaylin White, 19; and Lafayette Whaley, 27—were arrested last week on suspicion of attempted murder and robbery. Jackson is also accused of shooting Lady Gaga’s dog walker, Ryan Fischer.

The trio—purported gang members nicknamed Infant Dice, Lil Gudda and LFace, respectively—are due back in court May 11.

Whaley drove Jackson and White around Hollywood, the city of West Hollywood and the San Fernando Valley on February 24 “looking for French bulldogs,” the felony complaint states. They found Fischer and his three charges in Hollywood.

The trio tailed Fischer as he led the dogs—named Asia, Koji and Gustav—along the famed Sunset Boulevard, LA prosecutors wrote. They turned off the white sedan’s lights and followed him down a secluded side street.

Jackson and White jumped out and attacked Fischer, stealing Koji and Gustav in a violent struggle captured on the doorbell camera of a nearby home.

They hit and choked Fischer, prosecutors alleged, and Jackson pulled out a semiautomatic gun and fired, striking Fischer once before they fled.

The camera recorded the dog walker screaming “Oh, my God! I’ve been shot!” and “Help me!” and “I’m bleeding out from my chest!”

Over the next two days, White’s father, Harold White, and Jennifer McBride, who was in a relationship with the elder White, became involved in the theft, prosecutors wrote. They allegedly helped the younger White avoid arrest, and McBride returned the dogs to police on February 26.

She claimed she’d found the animals tied to a pole,

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Adele, 33; Henry Cavill, 38; Danielle Fishel, 40; Tina Yothers, 48.

Happy Birthday: Do your best to be helpful. Spend more time accomplishing and less time making a big deal out of trivial matters. Look for the good and the positive, and you’ll find a way to get the most out of everyone you encounter and every situation you face.

Aim for equality, originality and patience, and do what’s right and best for everyone. Your numbers are 7, 10, 17, 26, 31, 38, 32.

a

ARIES (March 21-April 19): Put pressure on yourself to get things done correctly. Progress will bring you joy and make you proud. Reach out to someone you like to collaborate with, and you will gain stability and the desire to press forward. HHH

b

TAURUS (April 20-May 20): Let your intuition guide you. Don’t overreact, take on too much or let anyone take advantage of you. Look for the best way to use your skills to get the most accomplished. Your efforts will be recognized and rewarded. HHHH

c

GEMINI (May 21-June 20): Emotions will interfere with your ability to get things done. Don’t mix business with pleasure or make promises you cannot deliver. A change someone initiates will leave you in an awkward position. Consider your options and carry on as usual. HH

d

CANCER (June 21-July 22): Pool resources with someone heading in the same direction and you will find a way to save time and money. A course you take will give insight into unique ways to work with the skills you already have. HHHHH

e

LEO (July 23-Aug. 22): Do what’s best for you. Letting someone make decisions for you will leave you in a vulnerable position. Keep your life simple and your plans innovative. A positive attitude will attract someone who appreciates you and what you have to offer. HHH

f

police said at the time, and asked about Lady Gaga’s offer of a $500,000 reward if the dogs were returned “no questions asked.” The singer was in Rome at the time filming a movie. Police initially said McBride appeared to be “uninvolved and unassociated” with the crime. She is charged with receiving stolen property valued above $950, in addition to a count of being an accessory after the fact.

Jaylin White remains held on more than $1 million bond, jail records show. Jackson is held on just over $3 million bond, and Whaley’s bond is $1.1 million.

The elder White, who is an alleged gang member nicknamed Lil Porky, was released from jail Saturday, and McBride was freed on Monday pending their next court appearance. McBride’s attorney could not immediately be reached for comment. It was not immediately clear if the others had lawyers who could speak on their behalf.

Lady Gaga and Fischer have not addressed the arrests publicly. Fischer is recovering from a gunshot wound and has called the violence a “very close call with death” in social-media posts. AP

How to enjoy fave shows now, pay later Touted as the country’s leading online ticketing platform, GMovies continues to extend convenience to its valued users through GCash’s GCredit. The new payment option enables its customers to purchase tickets to the latest movies and series offerings in a “book now, pay later” system. The alternative is now accessible on the web site alongside the other payment methods, such as credit/debit cards, ECPay, and charge to mobile.

“Our mission has always been to give our valued users the best and most convenient online ticketing experience. By introducing GCredit to avid GMovies users, we take one step further to fulfilling this goal,”

Today’s Horoscope

said Janis Racpan, director for Business Development at Globe. Powered by CIMB Bank, GCredit is the first-ever digital micro-lending service in the Philippines. The feature can be unlocked through the accumulation of a GScore. The trust score is determined by how much a customer uses his GCash virtual wallet to Buy Load, Send Money, Pay QR, Pay Bills, Invest, Save, and other GCash services.

More information about the GMovies app, which is available for download on Google Play Store, Apple App Store, and Huawei App Gallery, can be found at www. gmovies.ph.

VIRGO (Aug. 23-Sept. 22): An emotional situation will arise if you disagree with a friend, relative or lover. Keep the peace by giving others the freedom to think and do as they please.

Focus on personal growth, self-improvement and moderation. Romance will enhance your life. HHH

g

LIBRA (Sept. 23-Oct. 22): Intelligent banter will broaden your outlook and help you decide what you want to do next. The information you gather will be accurate regarding how to convert your skills to fit trends. HHH

h

SCORPIO (Oct. 23-Nov. 21): Keep your life simple. Focus on creative endeavors, spirituality and changing the course of your life. Stop spinning your wheels and ending up in the same place. Take the initiative to follow the path that brings you to peace and happiness. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Someone will be fishing for information. Be careful what you share about your personal life, and keep your possessions and passwords tucked away someplace safe. A steady pace and secretive attitude will be in your best interest. HH

j

CAPRICORN (Dec. 22-Jan. 19): Don’t go overboard trying to impress someone. Just be yourself, live within your budget and be honest about what you want and what you have to offer. If you are passionate about your likes and dislikes, you’ll gain respect. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Speak up, lay down ground rules and go about your business. Don’t feel the need to follow someone’s lead or feel slighted if someone prefers to do things differently. As long as you are at peace with yourself, that’s what counts. HHH

l

PISCES (Feb. 19-March 20): Problems will surface if you or someone close to you is indulgent or overreacts. Stay calm. Be honest and fair when dealing with friends, relatives and colleagues. Keep the peace, and you will achieve what you set out to do. HHH Birthday Baby: You are whimsical, outgoing and entertaining.

You are unpredictable and energetic.

‘gotta split!’ by roland huget The Universal Crossword/Edited by David Steinberg

ACROSS 1 Desert haven 6 “Door number 1, 2 or 3?”

11 Conducted 14 Moan and groan 15 Main artery 16 A third of tri 17 Throw to the side, say? (see the last 4 letters in this answer...)

19 Time in history (...+ all 3 in this one) 20 Formal deal 21 Forearm bones 23 Ran into (all 3 letters in this answer...)

25 Mishmash (...+ the first 3 in this one) 29 Plum’s center 30 Highest peak in Alaska 31 Highlander (rhymes with “Braille”) 32 Hacienda brick 34 ___ box (Japanese lunch) 36 Certain football player (the last 3 letters in this answer...)

39 Clash with foam ammo (...+ the first 3 in this one) 43 Orange, but not apple 45 Submit taxes online 46 2012 film that won Best Picture

9 Drop in 4 52 Hack (off) 53 Overnight sensation’s trajectory (the last 2 letters in this answer...)

55 Salt Lake City student (...+ all 3 in this one) 56 St. Teresa’s Spanish birthplace 57 Humorist Lebowitz 59 Rapper ___ Nas X 60 Ending a relationship, or a theme hint 67 Snaky fish 68 Fire remnant 69 Fix, as a hair bow 70 Blow away 71 Honey Smacks frog 72 Very proficient DOWN 1 Hogwarts messenger 2 “I get it now!”

3 Take a load off 4 Not at all proficient 5 Vaccine fluids 6 Sam of Sam’s Club 7 Short flight 8 Spousal ___ 9 Pennies: Abbr.

0 Invites to the penthouse 1 11 Angola’s capital 12 Hold the attention of 13 Semi fuel 18 Massage target 22 Sign out 23 Calf-length skirt 24 English prep school 26 Apply gently 27 Secluded valley 28 “___ kleine Nachtmusik” 29 Buddy 30 Floor model 33 “Keep your shirt on!”

35 Card that beats a deuce 37 Not to mention 38 Chris of The Good Wife 40 Become limp 41 Lotion additive 42 Single exercise 44 Sushi eggs 46 Flowering shrub 47 Critic’s write-up 48 Front piece on a car 50 Image-building group 51 Brought into being

4 Wrapped, as an ankle 5 55 Like a groom-to-be 58 Taj Mahal’s city 61 French friend 62 Late SCOTUS great 63 Casual shirt 64 Absorbed, as a loss 65 Toy’s sound?

66 Group of exercises Solution to yesterday’s puzzle:

www.businessmirror.com.ph

Image BusinessMirror

Editor: Gerard S. Ramos

• Wednesday, May 5, 2021

B5

Enabling dreams to take flight

PHOTO BY GREEN CHAMELEON ON UNSPLASH

What do you go for— position or salary?

I

recently came across a social media discussion on starting salaries. A certain applicant who happens to be a fresh graduate rejected a sizable starting package and demanded for an amount that was almost double.

While knowing what we want and deserve may be good, when does one know if what they are asking equates reasonably to the credentials they carry?

Do not get me wrong. Both are important in your professional development—a higher designation entails you have acquired the necessary skills and competencies to do the responsibilities of the position, and a higher salary denotes the organization’s appreciation of your loyalty and contribution to its growth. There are so many factors involved in a salary—industry standards, specialization, performance reviews, years of experience, and additional training and certifications, to name a few.

To rely solely on educational attainment for a salary is not only unconscionable and inconsiderate, but also indicates a lack of understanding of what the work requires.

In negotiating between position and salary, there are several things one must look at to objectively ascertain which one to prioritize. I know a colleague who took on more responsibilities, but he had the same salary because the organization needed it at that time. He took it on as a means of widening his skills and developing connections with other groups in the organization. The intangible benefits far outweighed the financial remuneration.

And this brings me to the first consideration—

priorities. If you desperately need a job for the salary and to make ends meet, the option is clear that you need to take the job. But this also does not mean that you will stay in the same position or salary for a long time. Take every opportunity to learn about your industry and improve the skills and competencies within your professional track. Do the work properly and competently, and the salary will follow.

But if you are financially stable and you can take your time choosing the position and salary which best fit your aspirations and credentials, then by all means take your time and choose the one which fits you. It needs to start with what is more important to you and which one you value most. But also, be careful to ascribe value to something that the company cannot benefit from. Sure, your educational attainment might be a feat on its own, but from an organization’s point of view, how does that benefit them?

The next consideration is the total benefits package which includes opportunities to upskill and career opportunities within the organization. Aside from considering the organization and their capacity to afford the salary commensurate to your credentials, you also need to understand how your skill set will enhance their existing products and processes, and how your expertise will complement the existing group you will join.

Sometimes, the starting salary is the same as the benefits package that goes with it—medical and dental, house and car plans, flexible shift schedules, leave allocations, and others. Some even give date allowances and leaves for singles, solo parent leaves, gym or club membership, and a host of other creative benefits which might be of more value to you depending on your priorities.

And do not forget the possibility of upgrading your skill set through opportunities for further training and certifications. These will help you build credibility in the organization and, at the same time, provide opportunities to develop professional relationships in other departments, or other professionals in the same industry. In some industries, the currency for a higher position and

salary depends on your years of experience and educational credentials, while others depend on a proven track record of products and services.

Understanding the in and outs of your industry will go a long way in prioritizing what you need to improve to attain a higher position or salary.

A colleague once shared that he accepted a lower position but with a higher salary because he wanted to be exposed to the different facets of his industry. He may not have maintained his position, but his ultimate priority was to develop his skills in a bigger organization which exposed him to different specialties and helped him develop the right connections. Today, he has his own company and provides consultation services.

Another colleague transferred to a different organization because it offered him the position of a manager, but he does not have extensive experience leading people. He took the position because of the manager title, so he had to work doubly hard and learn fast to adapt to the needs of the position. He knew what the position involves, and he took the effort to learn and adapt because, ultimately, his end goal was to take on more responsibilities.

Which brings me to another consideration: your motivation. Some people are satisfied with where they are and will consider more responsibilities or promotions as punishment more than opportunities for growth and development. Others see more responsibilities as a chance to be recognized for their effort, and an indication that management trusts them with the added tasks. It all depends on your motivation. Why do you want a higher position or salary?

The opportunity to accept or apply for a higher position or salary depends largely on a clear understanding of your own personal motivations, your current skill set and competencies, and what drives you forward. It is never a bad thing to aspire for more for yourself. But it needs to be backed up by several considerations which include not just your educational credentials but also your proven track record, high emotional quotient, and a clear understanding of your place in the organization. n

“THE engine is the heart of an airplane, but the pilot is its soul,” so goes the saying. As the world celebrates World Pilots’ Day, get to know some of the dedicated aviation professionals and proud pilots of Cebu Pacific, with which one of its pillars is supporting the education of aspiring Juans and enable them to make their dreams take flight.

Beyond safely and comfortably flying passengers to their destinations, these aviation professionals also take satisfaction in knowing that they’ve played valuable roles in our nation’s ongoing fight against Covid-19, as well as during disasters—be it through cargo flights that carry muchneeded aid and relief goods, or through sweeper flights which bring people home to their loved ones.

While the past year may have been difficult for everyJuan, it is also during these turbulent times that passion in everything the carrier’s pilots do, coupled with the best of the Filipino spirit, was made manifest.

Many young dreamers hope to become pilots and finally take to the skies someday. For Captain Bensie Tan, the youthful fleet manager of the A320/A321 aircraft of Cebu Pacific, this desire always rang true.

“My mom tells me that noong bata pa ako, I’d always say, ‘I want to be a pilot,’” shares the 35-year-old father of two, whose wife also happens to be a Cebu Pacific pilot.

This dream led him to enter PATTS College of Aeronautics, eventually graduating with an Aeronautical Engineering degree. But despite coming from a traditional Chinese-Filipino family of businessmen and professionals, Capt. Tan was made aware early on that sending him to flight school was something they couldn’t afford.

Luckily, he got word of Cebu Pacific’s pilot program which includes a sponsorship of half of the needed fees to get licensed. With the odds evidently being in his favor, he got accepted to the program in 2007.

“There were a lot of bumps and obstacles along the way,” Capt. Tan recounts. “What was supposed to be a one-year course took us over two years to finish.” But his perseverance clearly paid off, and he formally joined the the carrier’s team in 2009. And much like an aircraft’s steady ascent in altitude, Capt. Tan also steadily rose through the ranks at the airline known for enabling everyJuan to fly: from limited first officer to regular first officer; to his promotion to Captain, and then as instructor and examiner; and now as part of the management team.

“Our leaders have steered toward the direction that will not only get us through these arduous times, but more importantly come out better prepared, equipped and wellrounded than ever before—with the strength to face any challenge going forward,” Capt. Tan adds.

For First Officer Tiffany Piccio, being a commercial pilot has been a dream for as long as she can remember.

“I was just amazed at how such huge metal ships could carry so many people at such high altitudes,” she says. This yearning was further pushed when, during a flight to visit her grandparents, she saw a man and a woman in the cockpit area. That was when she realized that, yes, women can be pilots, too.

Owing to the opportunities given by Cebu Pacific through a study now-pay later program, Piccio is well on her way towards reaching the peak of her career plans in the aviation industry as part of the country’s growing number of female pilots. “I’ve met a lot of lovely women who are either studying or having a successful career as an air traffic controller, air force jet pilot, and even an aircraft mechanic,” she shares.

This example of success is proof of Cebu Pacific’s commitment in providing equal opportunities to women in the industry. As the carrier celebrates its 25th anniversary this year, it continues to salute its pilots, crew and other frontliners who play vital roles in enabling every Filipino to fly safely.

How a professor learned to bring compassion to engineering and design

By Tahira Reid | Purdue University Associate Professor of Mechanical Engineering Tahira Reid leads a lab focused on human-centered design. Over her career, she’s gone outside the “traditional engineering box” and integrated compassion for the users of products and services into the design process—what she and colleagues refer to as “compassionate design.” She has also leveraged her insights as a Black woman in mechanical engineering in her work. Together, these considerations led to the development of a compassionate design framework that helps engineers think critically about their design decisions and, in her case, an investigation of how heat from flat-irons can damage curly hair.

In this interview, Reid describes how her personal experiences led her to focus on the human aspects of engineering, and why she believes a focus on people’s problems, combined with an engineering mindset, leads to more innovative products and services.

How did you come to bring a broader perspective to engineering problems?

If you take a mechanical engineering brain that

has compassion, or just a human-centered way of thinking, I feel like we can make a lot things better because analytical thinking abilities with compassion and moral considerations could have major impacts in society. I remember as a child watching a show called MacGyver. And it was fascinating how he would always find solutions to get out of trouble with the most obscure random items. So I would say that definitely was a spark.

When I was a sophomore at Rensselaer Polytechnic Institute, I took a class called Introduction to Engineering Design. It was in that class that I remembered an idea I had in third grade to build a Double Dutch jump rope device that can replace people to turn the ropes. And the Double Dutch machine was definitely the first time I saw something go from an idea to a working prototype.

After my master’s degree, I started to realize that I wanted to think a little bit more beyond just traditional mechanical engineering. I wanted to be more intentional about the people side of things.

Engineering is usually focused on making a physical product or system of some kind. It includes modeling and analysis and solutions which are

usually quantitative. When problems are presented that cannot draw from physics fundamentals or math, then it is often not considered an engineering problem.

Why was your work on hair considered unusual?

I like the challenge of stepping into uncomfortable places and asking questions that most people won’t.

One example is hair. How can mechanical engineering impact hair care? When you have a mechanical engineering background and combine that with being a Black woman, questions about hair care become obvious. We have a unique hair texture and there is a lot involved with our hair care, so a mechanical engineering lens provides opportunity to think about it differently.

When I became a professor, I collaborated with another faculty member, and we worked together and did some things that garnered a lot of media attention, because it was just different. When do you see mechanical engineers working on hair?

What role did mammograms have in your work?

At the PhD level, I brought psychology into

my work. Because I got outside of the traditional engineering box, I was allowed to tap into human problems, human things that resonated with me and caught my attention.

Like my compassionate design work—that was inspired by a conversation with a woman who counsels breast cancer survivors.

She shared the story of one person who, when she would go in to get a mammogram, she would say: “It’s me against the machine.” And I just heard those words and I said, “Why are we creating things that people feel like is an enemy to them, and it’s so scary for them?”

The compassionate design framework was created to help engineers know how to think about end users in a certain way. So with a person getting a mammogram or radiation therapy for cancer treatment, one can ask: How do we design so that they have a sense of security, so they’re not feeling fearful?

I’m motivated by some of the literal things engineering can do—yes, products, systems. But also the analytical thinking that we engineers can bring to social problems—those things motivate me.

THE CONVERSATION

First Officer Tiffany Piccio in her first productivity flight alongside Capt. Aleks Aguirre.

B6 Wednesday, May 5, 2021

How to really reduce plastic use – and why a total ban may not be the real solution

Farmer widens knowledge in agri-enterprise, network through SM’s KSK Program

KSK farmer graduate Flordorada Payar of Dinalupihan, Bataan

F

OR Flordorada Payar, SM Foundation’s (SMFI) Kabalikat Sa Kabuhayan (KSK) on Sustainable Agriculture has not only helped her advance her knowledge in farming, but it has also widened her network which is vital for her agri-enterprise.

Payar finished the KSK training last 2018 under the Batch 157 in Dinalupihan, Bataan. Under this social good program, the Bataan farmers were provided with training on modern farming technologies – focusing on high value crops production that would help them produce and sustain bountiful harvests.

The farmer-graduates are also provided with market linkages to help in boosting their social enterprises which in turn provide economic opportunities in their respective areas.

Currently, Payar is one of the KSK graduates whose high-value crops are being sold in select SM Markets in Dinalupihan, Bataan.

“Hindi po natatapos sa training ang KSK program. Hanggang ngayon tinutulungan kami ng SM sa pag-market ng aming mga produkto. Isa sa mga

natutunan namin sa programa ay ang tamang pag-presyo ng mga produkto kaya nasisigurado namin ang magandang kita sa mga ito,” she stated.

Beyond farming

MORE than just the farming knowledge instilled in the minds of the farmer-participants, they were also taught values and principles which they may use as they go along and continue reaching their aspirations in life. Included in the program is the imparting of the 14 Life Principles of Tatang Henry Sy, Sr. “Maraming salamat po sa SM Foundation sa paglunsad ng KSK project.

Ito po ay habang-buhay nang bahagi naming mga magsasakang nangangarap umunlad ang buhay,” she further expressed.

KSK opens opportunities for farmers

JUST last year, Payar is one of the farmers in Bataan who were granted support from the local government unit (LGU) through the “10 Magsasaka, 10 Ektarya, Tungo sa Masaganang Ani at

Mataas na Kita” program under the 1 Bataan Agri Inno Tech Corp, a PrivatePublic Partnership of the Province of Bataan and Agrilever Israel.

According to Payar, she submitted the required documents and underwent a tedious screening process in order to be selected as one of the pilot farms for the said LGU project. “Malaki po ang naitulong ng SM Foundation sa pagiging bahagi ko ng proyektong ito ng LGU. Bitbit ang mga kaalaman ko mula sa KSK, nakita ng LGU ang aking potensiyal at kakayahan sa pagsasaka,” Payar recalled.

As one of the pilot farms, Payar receives the following: seeds, water pump, fertilizer tank, and financial support for the salary of laborers, among others. Currently, Payar has four laborers who help her manage her farm.

Kabalikat Sa Kabuhayan (KSK) program aims to bring modern and sustainable farming skills in both rural and urban communities to help farmers have food on their table and have potential economic opportunities.

To date, the program has trained more than 27,500 farmers from 3,370 barangays in 900 cities/municipalities.

P

LASTIC pollution is a problem we can’t ignore any longer. Every year, 8 million tons of plastic end up in our oceans, killing marine life and harming the environment.

The good news is people are beginning to be aware of the harmful effects of plastic pollution. A recent theAsianparent PH poll among 600 moms found that 51% of them support banning plastics with available replacements, such as disposable cutlery, straws, cups, and plates. Ready to cut down on plastic? To start, here are five simple things you can do to reduce your plastic carbon footprint.

Reframe caffeine fix. Upgrade your barista’s creation by using your own insulated tumbler! Contrary to popular belief, coffee cups aren’t that easy to recycle: The outside is paper, with a thin layer of plastic inside. Reprocessing a cup means having to separate the two, making the recycling process a difficult one.

So the next time you pop in for your Venti coffee with three pumps of mocha and a splash of almond milk (hey, we don’t judge!), sip it from an ultra-cute tumbler, and get an extra buzz knowing you’re doing your bit in saving the environment!

Bring your own bag (BYOB). And we mean bag. Single-use plastics—like the one’s groceries use to bag produce, or what tiangges place your recent finds in—account for 40% of plastics produced every year. These plastics have a lifespan of minutes to hours in your hands yet linger in the environment for hundreds of years.

Make it a habit to pack reusable shopping bags and washable produce net bags the next time you head out. Bonus: there are so many cute designs to choose from, that you’ll surely want to show them off!

Break up with plastic you can live without. Disposable cutlery, straws, and condiment packets—do we really need them? In the US alone, 500 million plastic straws are tossed out daily, with each

straw having to take up to 200 years to decompose.

The next time you order take-out or have food delivered, ask to skip the plastic cutlery, plates, and packets of ketchup (seriously, don’t you have a bottle at home?)

Doing this can personally save up to 466 items of unnecessary plastic a year!

59% don’t know that a plastic ban includes banning of food packaging. This means that while moms do agree to ban plastic for the sake of the environment, they are not aware that the proposal includes packaging for food. This will be challenging for moms since most dayto-day basic food items come in plastic packaging to keep them affordable like noodles, bread, and the like. In addition, no material has been developed that has the affordability and safety that plastic has – this might come in the future but for now there are just no replacements yet for plastic food packaging.

So, when it comes to plastic use, start the recycling and segregation at home. For instance: any plastic material with food residue cannot be recycled because we lack segregation and processing facilities in the country. So do your part and wash plastic packaging before throwing in a bin specifically for plastics.

Check out more from TheAsianparent on Facebook and Instagram.

PH legal profession has come of (digital) age

Women are frontliner warriors against waste

GLORIA Bandojo is the breadwinner of her family. Glo happily shares that, despite being an orphan from Negros Occidental and coming to Manila at a young age, being a basurera has enabled her to provide for her family. She is proud that has and continues to build a better future for her children.

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HILE segregating plastic from recyclable wastes, Glo is oblivious to the noise. Recently widowed, she works as Assistant Shredder at one of Republic Cement’s partner waste recovery sites in Payatas, Quezon City.

She makes sure that only plastic wastes of no value or those that are no longer recyclable ends up being shredded.

A 30-year veteran of various landfills and wastes consolidators, Gloria Bandojo or Glo stands proud of her “dirty and smelly” workplace that has enabled her to send her eight children to school.

“Being a garbage collector is an honorable profession. Because of it, I was able to send my children and even my

grandchildren to school. I do not just want to beg to get by, rely on others, or steal just to survive. Without us garbage workers, Metro Manila would be full of mountains of trash. Through this, I am able to do my part in keeping our environment clean,” Glo said in the vernacular.

Meanwhile, Marianita “Tess” Maraat collects plastic packaging for upcycling into wallets or bags. A solo parent of five children aged eight to sixteen years old, Tess could only look back on how miserable their lives were. She shared, “At one point I didn’t know how I would get my children and I through the day.

Today, my children are studying in private schools and I’m able to help my

community earn extra cash through collecting wastes.”

Having learnt the skills of upcycling from City Environment and Natural Resources Office (CENRO) of the City of San Jose del Monte, Tess could earn as much as Php 17,000 per month during the Christmas Season.

She also supports other wastes pickers by providing a kilo of rice in exchange for a kilo of clean, dry plastic wrappers which she turned into bags and wallets.

The City of San Jose del Monte and several wastes consolidators in the former landfill in Payatas, Quezon City are but a few of Republic Cement’s partners on sustainable waste management. Through its resource recovery arm, ecoloop hauls and converts these wastes into alternative fuels via a cement manufacturing process called co-processing.

Coprocessing is the recovery of residual minerals or energy from the wastes.

“Making a difference in the environment is what makes me wake up in the morning with energy to start my day,” shared ecoloop Director Angela Edralin. “There are challenges along the way but being a woman has allowed me to make a unique contribution to this field that will hopefully pave the way for other women to do the same or even better.”

At home, it is the mother or wife who stands as the de facto front liner warrior against wastes. Regardless of profession or discipline, these women are empowered to uplift their lives and make a difference in their communities and together, build a greener and stronger republic.

CALLEJA LAW OFFICE TEAM, FROM LEFT: Atty. Karen Ulibos-Montero, Atty. Connie Jimenez-Aquino, Atty. Jean Marie Uy-Yam, Atty. Howard M. Calleja, and Atty. Anthony B. Peralta.

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HE extremely volatile business environment prevailing in the Philippines has presented new challenges and opportunities for its clients in financial and medical services, real estate, tourism, technology, media, and telecommunications sectors. Currently, clients require and demand individualized representation of the highest quality from their legal counsels. And with the impact of the Covid-19 pandemic, even the legal industry was forced to speed up its digital innovation and transformation.

Founded in 2008, Calleja Law Office has successfully evolved into one of the fastest-growing full-service law firms in the Philippines while adhering to its core principles of commitment, excellence, and integrity.

As early as 2018 to modernize its information systems and enhance its day-to-day operations, Atty. Howard M. Calleja, Managing Partner of Calleja Law Office decided to partner with Kollab, a Google Cloud Premier Partner, to transition their entire organization towards Google Workspace (formerly G Suite).

The firm’s digitization with Google began with the migration of its electronic mail service to Gmail for Business. End users immediately felt significant improvements in mobility, performance, and reliability compared to the previous system. In parallel, lawyers and staff were introduced to a more efficient way to share files securely through Google Drive. Cloud-based file sharing enabled users to upload contracts, billings, and other pertinent files to shared drives that only specific people

within/outside the organization can access.

Alongside the use of Google Calendar to better manage internal meetings and client appointments, the firm has become more accessible and responsive than ever.

Today, a life of a connected worker at the Calleja Law Office makes use of several digital tools. Google Chat, a powerful business-grade instant messaging service is used for internal communications between field and backend teams. Together with other video conferencing tools, Google Meet is used to hold teleconferencing with clients on retainer. To fast-track billing and accounting service, the firm likewise engaged COREMATTER for its legal software solutions.

To address the new normal and in line with the Supreme Court’s thrust to continue legal service, the virtual setup has become the rule, not the exception. The legal community has shifted to an entirely new form of law; video conferences and online proceedings in lieu of face to face hearings in court with zoom hearings being the new normal. To support this “workat-home” set up, the firm together with its team of lawyers took no delay in adapting and availing of such apps, such as Zoom, Microsoft Teams, and the like to attend virtual hearings and continue providing online assistance to its clients here and abroad at all times.

As the digital age has come early, Atty. Calleja and his team continue to invest in ways to advance the legal profession in the Philippines as technology should be the enabler to the clients’ access to justice.

BusinessMirror

Editor: Tet Andolong

Wednesday, May 5, 2021 B7

Hybrid workplace is the way to go in 2021

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By Rizal Raoul S. Reyes

HERE will be a major shift in the workplace in 2021 which will give emphasis on the worker’s welfare, according to the leading official of a major proper consultancy and management company.

“The pandemic has driven employees to prioritize what matters in their work life,” JLL Philippines country head Christophe Vicic said in a recent webinar.

“Employee health and well-being will be the central real estate strategy and investment,” Vicic added.

Technology will play a vital role in the formation of a hybrid working as employees will have to work a huge amount of time in their homes. This in response to the Covid-19 pandemic where employers envision the future of work is about being responsible and sustainable. “We define hybrid as a flexible way of working that involves sometimes being physically present in the corporate office and sometimes working in a distributed

manner leveraging Cloud technologies to enable work from everywhere,” Vicic explained.

In a survey conducted by JLL in three regions in February, 39 percent of organizations in Asia Pacific said they expect their employees to work twice a week in a post Covid period. Other results in the APAC survey indicated 36 percent were undecided while 12 percent said they think three days is good. Other areas covered by the survey were the Americas, and Europe, Middle East and Africa, also known as the EMEA group.

Vicic said the office will “preserve engagement, emotional wellbeing and mental health. “If more than two days of work, morale can be affected.”

JLL believes the new workplace beyond the pandemic will be worker-centric.

“The office is becoming a hub for collaboration, problem solving and career development,” Vicic pointed out.

To boost morale of the employees, the study said employers should establish amenities such as socialization spaces (49 percent), spaces for shared community interests (44 percent), spaces connected with nature (44 percent), learning and development spaces

(43 percent), creative spaces (32 percent), spaces for shared community interests (26 percent) and incubators (25 percent).

In crafting a hybrid model, Vicic said six issues must be addressed.

These are the following: 1. How is work being performed today?

2. What are the new work force preferences?

3. What is the size of the workplace?

4. What is the right mix and balance for the future hybrid work model?

5. How can we transform and still maintain our culture and; 6. How can we enable resiliency for the future?

For sure, the hybrid model will definitely appeal to the work force.

Nevertheless, Vicic stressed that the model might not be relevant for all organizations and possibly be adopted at different degrees of intensity. “Notably, we must look at hybrid in the context of a future of work continuum, an integrated continuum that includes work, the work force, the workplace and the real-estate portfolio,” Vicic pointed out.

Meanwhile, the Lobien Realty Group (LRG) noted the work from home model will definitely affect office take-up in the long run and stressed that this kind of setup may not be sustainable especially for those that don’t have good Internet access and connectivity and for those living in poor workplace environments.

“LRG believes that at this time landlords/building owners need to be more flexible in their commercial terms when accepting new tenants,” the company said in a press statement.

Aware of the situation, some landlords are more open in signing short-term leases compared to the usual three-to-five-year leases that landlords require. Furthermore, LRG urged landlords/building owners to lower rental rates so they can lease their spaces quickly rather than let units remain unoccupied for many months.

Lamudi stages first housing fair online

By Roderick L. Abad

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FTER seeing the property market’s confidence is back again this year amid the ongoing pandemic as shown in a strong demand for homeownership, Lamudi has just hosted this month the first and biggest online housing fair in the country that showcases exclusive offers from various property developers.

Based on the real-estate portal’s survey in the first quarter (Q1) of 2020, 91 percent of respondents want monetary assistance from property developers, with 46 percent looking for discounts, 31 percent for promos, and 23 percent interested in a smaller down payment.

The first three months of last year saw Taal Volcano erupted in January, growing concerns about

the Covid-19 in February, and the subsequent announcement and implementation of the enhanced community quarantine midway through March.

Monitoring property demand on Lamudi across all price points, most price segments experienced year-on-year dips in pageviews on its web site in Q1 2020.

Despite this, however, surveyed property seekers last year said that they were keeping their property purchase timeframe open, with 34 percent considering buying a year after the start of the pandemic.

As expected, demand from January to March 2021 pointed to recovery across all prices, with high-end properties as the most resilient during a time when cash is king, while the affordable segment showed the dream of homeowner-

ship is alive amid a health crisis.

Responding to this need from the market, the ongoing online housing fair boasts of special deals and exclusive property discounts from participating developers, such as RLC Residences, AboitizLand, Federal Land, Shang Properties, Prime Homes, Solar Resources, PH1 World Developers, ACM Homes, DMCI, and PIK, as well as the realestate brokerage PropertyPro. “For the past years, Lamudi’s housing fairs have been held in malls all over the country. Our team has been working hard to address the limitations to property buying brought on by the pandemic, which is what led to us deciding to bring the housing fair online,” said Lamudi Chief Executive Officer Kenneth Stern.

Apart from selling, this ongoing event is educational. It features the

talk of Pag-IBIG Fund about affordable housing loan programs, with Atty. Siegfrid S. Suarez, the legal and compliance officer of Lamudi Philippines, answering land title transfer concerns. Renelyn Tan-Castillejos, a certified KonMari consultant and the founder of World of Yorokobi, teaches attendees how to tidy and organize their homes.

Clean All PH and Happy Helpers, likewise, give advice on how to deep clean and sanitize the home in the new normal. SoFA shares home interior design tips. Participants learn to start their own garden at home with tips from ZassyGreen All About Plants.

This housing fair on the web now ongoing until May 31 is sponsored

by Nook, Kamada, and the Subdivision and Housing Developers Association Inc.

Home

LG brings UVnano technology to the Philippines

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G Electronics, the global leader in inverter technology for residential air-conditioners, has introduced its new lineup of LG DualCool air-conditioners with Dual Inverter Compressor. LG’s new and improved airconditioning units boast of 70 percent lower energy consumption and 40 percent faster cooling performance. LG’s groundbreaking UVnano technology was also introduced.

UVnano removes 99.99 percent of germs from humidity, bacteria, and viruses within the unit.

The powerful 5-step Total Air Care System in the new LG DualCool air-conditioners feature efficient PM1.0 filtration to deliver a clean, healthy, and fresh living experience which are also perfect for your smart home. The airconditioners support connectivity with the LG ThinQ app through Wi-Fi, which enables users to control the air-conditioner anywhere anytime—from powering on and off. With this new line of LG DualCool air-conditioners, LG is targeting an increase in its local market to 15 percent within 2021.

Young Park, LG Philippines’s vice president for Air Conditioners and Energy Solutions, said, “The pandemic fundamentally changed how people live their lives. What was normal before, such as seeing movies or dining out, is now something you need to live without. Staying

home as much as possible became one of the most important things you can do to take care of yourself and your family. In response to this change, LG developed new air-conditioners that help protect family members from the spread of germs, viruses, and dust particles that might be in the air. The new machines’ outstanding removal and air purification capabilities are complemented by durability and energy-saving efficiency for longer use.”

Also, LG PuriCare Wearable Air Purifier has finally launched one of their most eagerly awaited Air Solutions products in the country.

In a recent installment of the South Korean

technology giant’s popular livestream event, longtime LG Brand Ambassador James Deakin hosted the launch that was simulcast through Lazada and Facebook.

The self-purifying mask, which was introduced and went viral a year ago, is one of the most coveted techwear pieces worldwide. The PuriCare Wearable Air Purifier, together with its case, is offered alongside LG’s line of air-conditioners which also feature UVnano technology.

The PuriCare Wearable Air Purifier’s charging case uses UVnano to clean the mask while it’s charging, while the new air-conditioners used ultraviolet light to sterilize the fan to

prevent 99.99 percent of germs from adhering to its surface. This process makes the air blown through the unit that much purer, safer and fresher.

And LG Philippines (www.lg.com/ph), recently inaugurated the first-ever Smart Laundry Lounge outside of Korea. Located in FastWash Bocobo 1000 J. Bocobo St., Ermita, Manila, the Smart Laundry Lounge lets you streamline the laundry process for both business owners and customers. And when we say “smart” we don’t just mean the equipment— we say “smart” because our Laundry Lounge has already streamlined doing laundry for our customers with the LG Laundry Lounge App. LG Smart Laundry Lounge makes the whole laundromat experience safer and intuitive thanks to the use of the LG Laundry Lounge App. For business owners, you can monitor revenue, set-up new machines, manage error messages, and get alerts when there is a problem in the laundromat. For customers, you can select cycles, manage the laundry, and create payments. You can even be notified when machines are available, so there is no need to wait long in line. Each washing machine also incorporates hygiene care to ensure safety. The tub of the machine is clean and safe before, during, and after every use. Reni Salvador

Russia’s largest homebuilder brings Europe to the Metro

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ANY predict that the new ways of living set by this past year will continue to inf luence what homeowners look for in buying property. JLL Research noted that the pandemic is unlikely to slow the long-term trend of urbanization, but will indeed increase the imperative to put a greater focus on health and smart city solutions.

As a response, PIK, Europe and Russia’s biggest homebuilder, is offering spacious and private elevated comforts to the country with their first project, One Sierra.

At the company’s recent media roundtable, titled “Bringing Europe to the Metro,” PIK Head Project Manager for International Development Gasan Guseynov said, “Our mission has always been to provide beautiful, functional and durable homes to raise and redefine their quality of life. We are delighted to be bringing exemplary innovations to Metro Manila that meet the current needs brought about by this fast-changing landscape.”

PIK has been creating Europeanlevel quality homes for over 27 years and is a leader in the Russian realestate market. To date, they have built homes for over 500,000 households and have a market capitalization of $8.6 billion. They are also a leader in landbank with 11 million square meters and are continuing to grow by expanding to key markets in Asia—starting with the Philippines.

“We are very excited to launch our first project in the region with One Sierra in Mandaluyong,” shared PIK Country Manager Mai Yang. “Filipinos are very discerning with the quality of their living spaces. We want to continue raising these standards by providing

well-built and strategically located developments for the mid-to-high end market,” Guseynov added. The project was designed with John Mc Aslan + Partners, a Londonbased architectural firm, bringing in modern aesthetics and greenbuilding technologies.

Yang noted that an increased sense of privacy is crucial to homebuyers looking to move to the busy city. “Especially as we continue to spend more time at home, we see the need to make condominium-living integrated, relevant, and at the same time, serene. Our low-density project offers exclusivity in the middle of the city and also addresses the need for new design technologies.”

Yang shared that One Sierra also boasts integrated health and wellness to its residents’ everyday routines by providing a swimming pool and deck area, and a gym and wellness area. The building’s SmallOffice/Home-Office units (SOHO) also uniquely cater to this growing need for work-life balance. “Due to the pandemic, most professionals have a work-from-home set-up. Our SOHO units answer this need by incorporating the European philosophy of efficient living. Thankfully, our spaces are fittingly designed so that residents can have a comfortable workspace without compromising the rest of their personal space,” she said.

With this initial offering by PIK, the company shows its commitment to grow and deliver quality offerings based on market demands, as well as its integral part of elevating the community. “We’re proud to be introducing European-living to Manila, and we look forward to building more effortless living spaces for the Philippines,” said Guseynov.

Sports

KAI REAFFIRMS COMMITMENT

BusinessMirror

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B8

| Wednesday, May 5, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

BRAZILIAN DISCIPLINE J

ORGE EDSON SOUZA DE BRITO should be a no-nonsense tactician when he brings his volleyball smarts to Philippine soil—he describes his coaching style as between “a father and a monster.”

“I could be the fatherly-type, but I want to push myself and the team, work hard to achieve goals,” said the 54-year-old Souza de Brito who was assigned this week by the International Volleyball Federation (FIVB) to help work on the national women’s team program.

Like any other professional coach—and an FIVB-appointee for that matter—Souza de Brito has already done his homework. He has watched videos on the Philippine campaign in the 2019 Southeast Asian Games and just recently, on the national team tryouts in Subic that were uploaded to social media last week.

“I’m very happy to have this chance to come to the Philippines, it’s an honor,” he said. “I love volleyball and I love the passion Filipinos have for volleyball. They love the sport so much—and there are a lot of fans.”

The Philippines is actually no alien to Souza de Brito. He learned about the country from, who else, Leila Barros, the charming former Brazilian star who became a darling to Filipino fans when she played for the Brazilian national team in the FIVB Grand Prix that Manila hosted in August 2000.

“Leila once told me that if ever it struck my mind to move elsewhere, I should be moving to the Philippines,” Souza de Brito said. Barros is now a senator in Brazil.

Souza de Brito has two Olympic titles to his name—as a player in Barcelona 1992 and as an assistant coach of the Brazilian women’s team in Beijing 2008.

Too bad, only two coaches were allowed to join the team in China and he had to be left behind.

Winning an Olympic gold medal, he

stressed, is incomparable in the life of any athlete.

“It was amazing, I can feel my body shaking, it’s a very special moment for all athletes,” he said.

“It was the best emotion in my life.”

So amazing his feeling was with an Olympic gold medal hanging from his neck that he wants to feel that emotion once again.

“I want to repeat that feeling again—in the Philippines, in the SEA Games,” he said.

The FIVB pegged his first day of his two-year contract on July 1, according to Philippine National Volleyball Federation president Ramon “Tats” Suzara.

“Coach Jorge has to have time to transition from his family and from his job as coach of Brazilian club Clube Duque de Caxias, which he has been mentoring since February last year,” Suzara said.

Souza de Brito lives in Curitiba, a city in the

southern part of Brazil. He is married to Raquele Lenartowicz, a 37-year-old former professional player.

They have three children—Julia (13), Anna Muiza (nine) and Helena (four). His daughter from a previous marriage, Marina (23), plays for Jackson State University, an NCAA southwestern division 1 team.

Souza de Brito played competitive football and volleyball as a teenager but decided to stick to volleyball when he was 17.

“When I was 12 to 17 years old, I played football and volleyball at the same time,” said Souza de Brito, who like majority of Filipinos is a devoted Catholic. “But when I was 17, I chose volleyball and became a member of the national juniors team.”

At 6-foot-4, Souza de Brito was a defender on the pitch and a middle blocker on the court.

“The moment I chose volleyball, I never left the sport,” he said.

And that love and passion for the sport Souza de Brito would be bringing to Manila hoping to get the expected results.

“I will do my best to help Philippine volleyball and I expect to see good players getting involved in the project,” he said. “We will try to get the best from what we can do and make a new page in history.”

Souza de Brito would be working with national women’s team coach, the veteran Odjie Mamon, and his assistants Tai Bundit and Grace Antigua.

JORGE EDSON SOUZA DE BRITO says that as a coach, he’s between “a father and a monster.”

Their goal? Get the team ready for the Asian Women’s Championship the PNVF is expected to host in August and more importantly, the 31st SEA Games in Hanoi in November.

Souza de Brito said he doesn’t expect the team to be battle-ready for the Asian championships but declared that the squad to be close to lethal for the Hanoi SEA Games.

“It’s too early to make a change for the Asian championship, but for November, it would be different,” he said. “Four months is actually not enough a time, but we’ll do our best, some changes will happen.”

Asia isn’t remote to Souza de Brito. He did the coaching rounds in Japan in the 2006 FIVB Women’s World Cup and mentored the Korean Air Jumbos, a men’s team, in the Korean league from 2015 to 2016.

For his Philippine sortie, Souza de Brito has already cast his goal in stone.

“We build a new one, a new order,” he said, adding he would be adjusting his plans to suit Philippine, Southeast Asian and Asian volleyball.

“Each country or continent has its own way of playing volleyball and it’s impossible to change everything,” he said. “But I’m looking forward to make the team stronger and make the athletes understand the sport better. We all have to work altogether so we can see what kind of volleyball we can produce.”

3x3 squad faces tough task in Graz

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By Josef Ramos

HE national 3x3 team is hard-pressed to make the most out of a three-week window to prepare for the International Basketball Federation (FIBA) 3x3 Olympic Qualifying Tournament in Graz, Austria, later this month.

Head Coach Ronnie Magsanoc herded the team only on Labor Day at the Inspire Sports Academy bubble in Calamba. He is staring at a limited window to get in harness against some of the world powers of the discipline.

“Every team is going to be tough to play simply because every game is a must win,” Magsanoc told BusinessMirror, adding only the top two teams in the group stage will move further in the tournament.

The Philippines is bracketed in Group C with Slovenia, France, Qatar and the Dominican Republic—powerhouse teams that continued to play through the pandemic.

“Slovenia, France and Qatar have been playing and competing in eastern Europe since March,” Magsanoc said. “In fact they just played in Serbia and may come from Montenegro which is just a two-hour land trip to Graz in the time for the competition.”

The country is fielding San Miguel Beer’s CJ Perez and Mo Tautuaa, Terrafirma’s Joshua Munzon, Meralco’s Alvin Pasaol and Rain or Shine’s Leonard Santillan and Karl Dehesa.

“It’s going to be difficult because all our opponents are playing 3x3 for the longest time,” Perez said. “But as long as we execute and follow our game plan, I believe we can still make it. At the same time, my teammates Joshua [Munzon] and Alvin [Pasaol] will provide us some experience there.”

Perez first played 3x3 in the 2016 FIBA 3x3 All-Stars in Doha in 2016 but his team also composed of Sidney Onwubere, Bright Akhuetie and Rey Guevarra dropped out early.

He teamed up with Tautuaa, Jason Perkins and Chris Newsome in bagging the gold medal in the 2019 Southeast Asian Games.

The team departs for Austria on May 23.

ILIPINO basketball wunderkind Kai Sotto reaffirmed his commitment to the Philippine national men’s basketball team program despite his contract to play with the Adelaide 36ers of Australia’s National Basketball League.

Sotto made the reassurance to answer the “call for flag and country” from his training camp at the Kaiju Academy in Hamilton, Ohio, stressing his desire to join Gilas Pilipinas in the 2021 FIBA Asia Cup qualifiers in Clark, Pampanga, from June 16 to 20.

KAI SOTTO is ready to heed the call for flag and country.

Fencers eye Korean support for SEA Games preparations

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HE national fencing team is looking at a possible South Korean training camp as part of its preparations for the 31st Southeast Asian Games in Vietnam.

Coach Rolando “Amat” Canlas said South Korea, a fencing power, is on the radar of the Philippine Fencing Association (PFA) but considering the current travel restrictions, Canlas told Tuesday’s online Philippine Sportswriters Association Forum that they have a backup plan but still with a Korean flare.

Canlas said the other option is to invite at least 12 Korean fencers to train with Filipino athletes.

“It’s cheaper if we bring the Koreans here,” Canlas told the program presented

by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp.

Rising star Sam Catantan joined the forum from Pennsylvania where she is part of the Penn State University fencing team.

Doctors find irregularities in Diego’s death

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UENOS AIRES—A medical report on the death of Diego Maradona given to prosecutors Monday said the Argentine soccer legend agonized for more than 12 hours, did not receive adequate treatment and could still be alive if he had been properly hospitalized.

The medical panel worked for two months on the report which was written by more than 20 doctors. Maradona, who led Argentina to a 1986 World Cup, is considered one of the greatest soccer players ever.

The document further complicates the defense of seven people under investigation in the case, including brain surgeon Leopoldo Luque and psychiatrist Agustina Cosachov, both of whom worked for Maradona.

The 60-year-old Maradona died of a heart attack at a rented residence outside Buenos

A PBA idea worth looking into AL MENDOZA | alsol47@yahoo.com

THAT’S ALL SOMEONE exceedingly knowledgeable in sports told me recently: Why not hold the Philippine Basketball Association (PBA) games in three separate venues this year?

Come again, buddy?

“Three separate venues,” he said. “And each venue will have four PBA teams playing.”

Meaning, the 12 teams will be divided into three, resulting into four squads herded into one arena each to battle in a double-round robin affair.

Which three battlefields would be ideal?

“Four teams each playing in Luzon, Visayas and Mindanao,” he said. “Top teams after two rounds advance, gathering them into one venue, if possible, where they will resume hostilities all the way to the finals.”

The 7-foot-3 center, Smart Communications Inc.’s (Smart), newest ambassador, also committed to the FIBA Olympic Qualifying Tournament in Belgrade, Serbia, in July.

“Playing for the national team is the top goal of any athlete,” Sotto told a recent online press conference hosted by Smart. “I’m thankful that my goal and Smart’s goal is the same, to inspire the next generation of young Filipinos.”

“We’ve been following Kai for a long time, since his Ateneo and Batang Gilas days,” Alfredo S. Panlilio, president of the Samahang Basketbol ng Pilipinas and president and CEO of Smart Communications Inc., said.

“He can really be the future of Philippine basketball.”

“He’s only 18 years old, but he’s achieved so much, and we’re rooting for him as he achieves his goals,” added Panlilio of the new face of Smart.

“He represents and inspires the youth to live big on their passions. He shares his journey to his followers while pursuing to fulfill his career goals at such a young age.”

Sotto’s training at the Kaiju Academy is part of goal to become the first full-blooded Filipino to play in the National Basketball Association. He thanked Smart Communications Inc. for helping him achieve his dream.

“Smart has been there for me since my high school career, that’s where it all started.

I’m thankful that my goal and Smart’s goal is the same—to inspire the next generation of young Filipinos,” he said.

He said Mindanao’s Davao could be it for the first bubble. Cebu or Iloilo in the Visayas. In Luzon, a tossup between tested Clark in Pampanga or Batangas City.

Any of the three venues can be selected as the final arena after the eliminations.

I think my friend’s idea sounds sane. It is not only innovative and creative, it is extraordinarily logical as well.

It even puts the PBA closer to all the peoples of the archipelago. After all, isn’t the PBA national?

There is no debate that virus infections are that serious in Metro Manila and the four provinces surrounding it—thus the various levels of lockdowns being imposed on them.

With the league’s games and 12 teams being

If not for the pandemic, Amat said apart from Korea, the fencers are also supposed to go to Hong Kong for another two-week training camp before the November 21 to December 2 SEA Games.

“We’ll have to quarantine for 21 days if we go to Hong Kong, it’s just not practical,” Amat said.

Similar to the team’s preparation for the recent Olympic Qualifying Tournament in Tashkent, the fencers, including Catantan, will again undergo a bubble training in Ormoc City, where PFA President Richard Gomez is the mayor.

The federation will be holding the National Fencing Championships at the Superdome from July 3 to 11 to determine the composition of the team to the SEA Games.

All eyes are on Catantan, the former University of the East standout who was named Penn State’s women’s MVP right on her rookie season. She almost made it to the Tokyo Olympics but settled for a bronze medal in the Tashkent tournament.

MARADONA

Aires following a November 3 brain operation.

The medical report said “the patient’s signs of risk of life were ignored,” adding that Maradona “showed unequivocal signs of a prolonged agony period” of at least 12 hours.

The document also said the attention Maradona was getting at the rented house “did not fulfill the minimum requirements” for a patient with his medical history. It said the Argentine star would not have died with “adequate hospitalization.”

Maradona had suffered a series of medical problems, some due to excesses of drugs and alcohol. He was reportedly near death in 2000 and 2004.

Julio Rivas, a lawyer for Luque, said he will try to annul the medical forensics of the report “They have made a biased report, a bad one, with no scientific foundation,” he said. AP distributed in three spots with few virus visits, we observe safety protocols to the hilt—naturally.

As things stand now, practice games for the 12 PBA teams are more likely to be held in Batangas City in the run-up to the league’s projected opening in June.

Well and good.

Batangas City has always been the favored one. For one, it has three quality arenas, plus class hotels. For another, the city is more than willing to host the PBA, Commissioner Willie Marcial being the city’s pride and joy long before Ginebra spitfire LA Tenorio was born on July 9, 1984.

If Clark won’t be available for the PBA 46th season, I’d go for Batangas all the way. Call me biased. I have always adored the city’s kalderetang kambing.

THAT’S IT Junna Tsukii, the Fil-Japanese karateka, might yet make it to the Tokyo Olympics in July after winning the gold recently in the kumite 50-kg event in Lisbon, Portugal. She formalizes her Games’ stint with another victory in the Paris Olympic qualifying on June 11 to 13, joining Filipino Olympic qualifiers pole vaulter EJ Obiena, gymnast Carlos Yulo, lifter Hidilyn Diaz, and boxers Eumir Felix Marcial, Irish Magno, Nesthy Petecio and Carlo Paalam.