BusinessMirror May 24, 2024

WEAK PESO WON’T HALT GOAL ON RATE CUT–BSP

By Cai U. Ordinario @caiordinario

THE weakness of the Philippine peso will not become a hindrance to the aim of the Bangko Sentral ng Pilipinas to bring down key policy rates this year, according to BSP Governor Eli M. Remolona Jr.

Briefing reporters recently, Remolona said it is only when inflation becomes de-anchored that monetary authorities would consider raising rates. Earlier, economists and ana-

Heat stress threatens hog output

EL Niño stunted the growth of pigs, affecting the performance of the country’s hog sector, according to the National Federation of Hog Farmers Inc. (NatFed).

“This is the first time that we experienced this kind of heat, and this had an impact on the performance of the hog sector,” Alfred Ng, vicechairman of NatFed, said on the sidelines of the opening ceremony of the Livestock and Aquaculture Philippines 2024 in Pasay City.

“Instead of the usual liveweight of 120 to 150 kilos, hog raisers are considered lucky if their animals reach 90 to 100 kilos,” he said in a mix of English and Filipino.

Ng also said the stunted pigs were sold even before they reach the ideal liveweight as the animals refused to eat.

“Because animal feeds are expensive, chances are the raisers would sell the hogs once it reaches the right age even if their weights have declined,” he said. “Even if you try to feed them, they won’t eat and won’t grow.” He said the raisers are restocking their farms to expand annual output by 10 percent to 15 percent.

See “Heat,” A

By Reine Juvierre Alberto @reine_alberto

THE national government has reverted to a budget surplus amounting to P42.7 billion in April, after recording a fiscal deficit of P195.918 billion in March, according to the Bureau of the Treasury (BTr).

The Treasury said, however, that the P42.7-billion budget surplus was 36.06 percent lower than the P66.8 billion recorded in the same month last year.

“The lower surplus for the month was due to the 32.25 percent acceleration in public expenditures, which outpaced the 21.90 percent rise in government revenue collec-

lysts raised the possibility of either raising policy rates or increasing foreign exchange intervention in order to defend the

THE country’s economic growth remains largely Manila-centric despite the recent high growth rates posted by regions nationwide, according to the National Economic and Development Authority (Neda).

In a statement, Socioeconomic Planning Secretary Arsenio M. Balisacan said while regions are growing faster

than the National Capital Region (NCR) or Metro Manila, he admitted that growth inclusivity from a geographic dimension remains a challenge. In 2023, the fastest-growing region was Central Visayas with a growth of 7.3 percent followed closely by Western Visayas with 7.2 percent and

See “PHL,” A

tion,” the Treasury said.

This brings the year-to-date budgetary shortfall to P229.9 billion, more than double last year’s level of P204.1 billion.

Revenue collections in April amounted to P537.2 billion, up by 21.9 percent from the P440.7 billion recorded a year ago on the back of higher year-on-year growth in both tax and non-tax revenues.

“The increase in tax revenues was fueled by double-digit growth in the collections of revenue collecting agencies while the increase in non-tax revenues was due to strong dividend remittance,” the Treasury said.

Year-to-date tax collections grew by 16.80 percent to P1.470 com -

pared to the P1.259 trillion recorded in the same period in 2023.

The Bureau of Internal Revenue (BIR) collected P378.5 billion in April, higher by 12.65 percent than the P336 billion recorded in 2023.

“The Bureau’s collection growth was due to an overperformance in all major tax types compared to the same period in 2023. Both income tax and VAT posted double-digit growth as annual income tax filing, and Q1 2024 VAT payments are due during the said month,” the Treasury said.

Meanwhile, the Bureau of Customs (BOC) recorded P80.7 billion in revenue collections in April, which also higher by 19.52 percent from last year’s P67.6 billion.

The Treasury’s income for April expanded to P64 billion, triple the P18.3 billion posted a year ago. The BTr attributed this to the increase in dividend remittances as staterun corporations increased their remitted annual net earnings to 75 percent from 50 percent following the Department of Finance’s (DOF) directive.

The Land Bank of the Philippines is the top dividend contributor for the month with P32.1 billion, followed by the Philippine Ports Authority (P5.1 billion), Manila International Airport Authority (P3.5 billion), and the Subic Bay Metropolitan Authority (P3.1 billion).

NGCP puts Luzon, Visayas grids on red, yellow alerts

By Lenie Lectura @llectura

THE National Grid Corporation of the Philippines (NGCP) once again placed the Luzon and Visayas grids on red and yellow alerts Thursday after a number of power plants bogged down.

This is the seventh red alert for Luzon and eighth for the Visayas since the start of the year.

A red alert status is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement while a yellow alert means operating margin is insufficient to meet the transmission grid’s contingency requirement. Since the start of the year, the yellow alert status was

hoisted over the Luzon and Visayas grid for 20 and 22 times, respectively.

For Luzon, the red alert is in effect from 1pm to 5pm and from 6pm to 10pm.

The yellow alert, meanwhile, is in effect from 12 noon to 1pm, 5pm to 6pm and from 10pm to 12 midnight.

According to the NGCP, Luzon’s available capacity stood at 13,531 megawatts (MW) while peak demand reached

13,597 MW.

Three plants have been on forced outage since 2023, four between January and March 2024, and 11 power plants between April and May 2024; while three are running on derated capacities, for a total of 2,525.5MW unavailable to the grid.

In Visayas, one plant has been on forced outage since 2022, two since 2023, two between January and March 2024, and 16 power plants between April and May 2024; while three are running on derated capacities, for a total of 553.1MW unavailable to the grid.

The red alert for Visayas was to run from 2-4pm, and from 6-7p.m. From 12 noon to 2pm; 4 to 6pm; and 7 to 10pm, the yellow alert is in effect.

The available capacity in the Visayas grid stood at 2,588MW as against a peak demand of 2,537MW.

According to the NGCP, the grid operator may implement Manual Load Dropping (MLD) in some parts of Nueva Vizcaya, Ifugao, Pangasinan, Bataan, Tarlac, Lipa City, Sorsogon, and Albay to maintain the integrity of the power system.

“The schedule may be cancelled if system condition improves, such as if actual demand falls below projections,” NGCP said.

DOE closely monitoring THE Department of Energy (DOE), for its part, is closely monitoring and coordinating with the NGCP, generation companies, and distribution utilities to ensure the availability of power supply in meeting the power demand.

It said that the tight power supply conditions have persisted due to the sustained high peak demands in both the Luzon and Visayas grids.

“The DOE enjoins all distribution utilities and electric cooperatives to be ready to activate their Interruptible Load Program (ILP) to reduce the overall demand in the grid,” the agency said. The Manila Electric Company (Meralco) has already advised the ILP participants to prepare for possible deloading.

“The Department acknowledges the proactive efforts of stakeholders in the power sector, particularly the role of the ILP in the Meralco franchise area,” said the DOE.

Weak…

Continued from A

local currency which, like its Asean neighbors, are getting a beating from the US dollar. (See: https:// businessmirror.com.ph/2024/05/20/ analysts-phl-may-not-be-able-to-cutrates-ahead-of-fed/)

“Raising the policy rate would entail inflation expectations getting de-anchored, then we might consider raising. But as long as they behave, inflation expectations behave, and the data going forward are similar to what has been happening, [it is] highly unlikely [for us] to tighten,” Remolona said.

Remolona noted that the BSP has in fact been defending the peso through foreign-exchange market intervention. However, these have been in small amounts.

He explained that BSP’s intervention is merely a strategy to prevent traders from offering very high amounts for the peso in order to bring in more dollars.

Such a scenario, Remolona said, could lead to fluctuations in foreign exchange prices that would no longer be reasonable, especially for those who need dollars.

“They tend to offer big amounts and then sometimes the prices fluctuate more than before. So we try to control that. We want those who really need dollars to get the

Continued from A

Non-tax revenues in April declined by 5.6 percent to P11.4 billion from the P17 billion collected a year ago due to the timing of the oneoff remittance of disposition proceeds from the Bases Conversion and Development Authority (BCDA) last year. Government spending in April grew by 32.25 percent, or P120.6 billion, to P494.5 billion due to higher releases of the National Tax Allotment (NTA) and subsidies to state-run corporations.

Expenditures expanded by 16.22 percent to P1.700 trillion from January to

PHL…

Continued from A

Ilocos region at 7.1 percent. These growth rates are faster than NCR’ 4.9 percent and national GDP growth of 5.5 percent.

“Much of our economic growth over the decades is traceable to the NCR and its neighboring regions.

Specifically, NCR contributes around one-fourth, while NCR with Central Luzon to its north and CALABARZON to its south collectively constitute more than half of GDP growth,” Balisacan explained.

In the same year, the regions that posted the slowest growth rates were SOCCSKSARGEN which posted a GDP growth of only 3.5 percent; the Bangsamoro Autonomous Region in Muslim Mindanao, 4.3 percent; and Zamboanga and Bicol regions with a growth rate of 4.6 percent.

Apart from inequality between and among regions, there is also inequality in the contribution of sectors to economic growth. Balisacan cited the country’s present sources of growth, the challenges that constrain the potential of various sectors, and the government’s initiatives to address such challenges.

“On the demand side, it is apparent that our growth has been mainly domestic consumption-driven, with other expenditure components, particularly investments and exports [external demand], contributing to less than half of GDP growth,” he said.

Nonetheless, Balisacan acknowledged that efforts to address wide inequality means narrowing the country’s digital divide, which was further

dollars at a reasonable price. We’re just trying to control the speculation. We’re just trying to control the speculation,” Remolona said.

Meanwhile, Remolona said the timing of the cuts would also not be affected, even if it means cutting rates ahead of the United States Federal Reserve. He stressed that the FOMC decisions constitute only one data point for the Monetary Board.

Earlier, Remolona said the weakness of the Philippine peso stemmed from the strength of the dollar, which has recently been bolstered by news that the US Federal Reserve will delay rate cuts. (See:https://businessmirror.com. ph/2024/05/22/peso-falls-to-18-month-lowas-fed-signals-rate-cut-delay/)

“We don’t care that much when the Fed cuts. We care more about our data. Of course, we follow the Fed very closely. And what they decide is one data point for us. It’s one among many other data points,” Remolona, however, said.

Cutting ahead of the US Federal Reserve may entail a lot of resources. Foreign analysts have pointed to this concern, particularly on the current account.

The BSP’s data showed the current account deficit has recently improved to $11.21 billion, but analysts said it wasn’t yet at a level that they would consider as ideal.

In 2023, the country’s current account deficit narrowed to $11.21 billion from the $18.26 billion recorded in 2022. It can be noted that in 2020, the country had a current

April compared to the P1.463 trillion recorded in the same period in 2023.

The national government’s disbursements stood at P1.7 trillion as of end-April, higher by 16.22 percent, or P237.4 billion than the previous year.

As a portion of expenditures, interest payments in April expanded by 45.93 percent to P67.5 billion from last year’s P46.3 billion.

The government recorded a fiscal deficit of 4.46 percent measured against the gross domestic product (GDP) in the first quarter.

“For 2024, the government is projecting a full-year fiscal deficit equivalent to 5.6 percent of GDP coming from 6.2 percent in 2023 in line with fiscal consolidation efforts,” the Treasury said.

exacerbated by rapid digitalization during the pandemic years.

Thus, the country’s Chief Economist emphasized the need for enhanced and accessible digital infrastructure, especially in remote areas, low-income households, and micro, small, and medium enterprises.

Balisacan also outlined the government’s responses to these challenges, which includes adherence to the strategies contained in the Philippine Development Plan (PDP) 2023-2028, the country’s medium-term development blueprint.

The NEDA Secretary shared the government’s initiatives to strengthen the country’s investment ecosystem; aggressively promote partnerships between the public and private sectors, particularly, for the rollout of enabling physical and social infrastructure; and improve the ease of doing business to address the concerns of the business community.

He also underscored the continuous efforts of the Marcos Administration’s Economic Team to advocate for next-generation reforms aimed at transforming the production sectors. These legislative priorities include the Konektadong Pinoy Bill, Enterprise-based Education, the Training Framework Act, the Department of Water Resources Bill, the amendments to the Government Procurement Reform Act, and various tax administration and fiscal reforms.

The government’s continued push for a more enabling investment climate is expected to support the flourishing of various industries, leading to the desired and balanced mix of sectors that will drive and sustain the Philippine economy in the years to come. Cai U. Ordinario

account surplus of $11.578 billion and a deficit of $5.943 billion in 2021. Nonetheless, Remolona said the BSP remains confident in its resources, particularly in its Gross International Reserves (GIR), which has again exceeded $100 billion. This marked the 7th consecutive month that the GIR has been above $100 billion.

The BSP earlier reported that the GIR as of the end of April was at $103.4 billion, higher than the $104.1 billion recorded in the end of March period.

“We’re comfortable with the amount of reserves we have. The reserves we have exceed what IMF would consider adequate. They measure, they give us a measure of reserve adequacy. We’re above that,” Remolona said.

Last week, the BSP said it is eyeing to cut key policy rates twice in the second half of the year. Remolona told reporters this may be delivered in increments of 25 basis points as early as August.

This means, the maximum rate cut expected to be delivered by the Monetary Board is 50 basis points by the end of the year. If the BSP will cut rates by a maximum of 50 basis points, this will place key policy rates at 6 percent by the end of the year.

Should this happen, the BSP would be cutting its policy rates ahead of the United States Federal Reserve which is expected to deliver its rate cuts starting in September. (See: https:// businessmirror.com.ph/2024/05/17/bspkeeps-rates-but-eyes-2-cuts-in-2nd-half/).

Continued from A

Data from the Philippine Statistics Authority (PSA) showed that the seasonally adjusted value of livestock production recorded a 1.8 percent decrease.

“Hog was the top contributor to the contraction in the value of production during the first three months of 2024,” the PSA said.

Ng also expressed concern over the increase in pork imports, saying this also poses a threat to the domestic hog industry.

The National Meat Inspection Service’s data showed that the bulk of the country’s pork inventory as of May 13 consisted of imports at 49,899 metric tons (MT).

Meanwhile, the pork from local raisers plummeted to 758 MT, from 3,145 MT recorded last year as African swine fever (ASF) continued to affect the country’s hog output. Ada Pelonia

Guo can still run even if suspended–Comelec

THE Commission on Election (Comelec)

said on Thursday that suspended elec-

tive officials can be candidates in the 2025 polls.

Suspension is not final conviction of judgement, Commission on Elections Chairman George Garcia.

The elections chief made the statement when asked about the status of the embattled mayor of Bamban, Tarlac, Alice Guo.

Guo is under fire owing to the discovery that she was a major shareholder of the land where the Philippine Offshore Gaming Operation (Pogo) complex in Bamban. The Pogo hub was located a short distance away from the Bamban town hall.

The Department of the Interior and Local Government (DILG) started the process to suspend Guo after stripping her of her authority over the local police.

Mayors have “operational control and direction”over the police units in their localities.

“The suspension of the DILG will not bar her from filing a COC [Certificate of Candidacy],” Garcia said during a voter registration activity at the PTV Office in Quezon City. Garcia, however, noted that other cases, including Quo Warranto, that might be filed against Guo on top of her the suspension may affect her eligibility to participate in the 2025 elections.

Quo warranto is defined as “a remedy to assail an illegal intrusion into a public office or position”meaning the office holder was not qualified to hold the position from the start.

“We have yet to discuss those [cases] because she has the right to defend herself. We will cross the bridge when we get there,” he said.

Guo is being investigated by the Solicitor General, the Senate and other government agencies on allegations she is a Chinese spy and for her alleged involvement with the Pogo in Bamban, that was suspected of being a crime hub.

DILG has recommended to the Ombudsman to suspend Guo while the investigations are on going. Samuel P. Medenilla

SC sanctions Gadon anew for gross misconduct

By Joel R. San Juan @jrsanjuan1573

DISBARRED Presidential Adviser for Poverty Alleviation Lorenzo “Larry” Gadon can no longer seek judicial clemency after he was found guilty of lying under oath in connection with the impeachment complaint he had filed against ousted Chief Justice Maria Lourdes Sereno before the House of Representatives (HOR) in 2017.

In a statement, the Supreme Court (SC) headed by Chief Justice Alexander Gesmundo said it has adopted the findings of the Integrated Bar of the Philippines-Board of Governors (IBP-BOG) which found Gadon guilty of gross misconduct for committing perjury and making accusations based on hearsay. See Related Story in A13 News, Anti-poverty czar says SC ruling is ‘premature, exorbitant.’

The Court thus ruled that Gadon

violated Canon II, Section 11 of he Code of Professional Responsibility and Accountability (CPRA), which prohibits lawyers from making false statements and makes him liable for Gross Misconduct, a serious offense.

Gadon was also accused of filing baseless criminal cases against several Supreme Court officials but this were dismissed for lack of evidence.

After investigation, the IBP’s Committee on Bar Discipline recommended that Gadon be suspended for two years after it found that Gadon lied under oath when he claimed that Sereno falsified a temporary restraining order (TRO) issued by the SC.

The IBP-BOG modified to three years the recommended period of suspension.

The SC adopted the findings of the IBP-BOG but adjusted the penalty imposed.

The Court ruled that Gadon was guilty of gross misconduct punishable

by disbarment.

However, the Court said since he had already been previously disbarred, the penalty of disbarment will no longer be imposed but nevertheless recorded in his personal file.

He was also fined P150,000 and adjudged ineligible for judicial clemency.

Gadon earlier said he would file a motion for reconsideration in connection with his disbarment on the ground that the penalty is too harsh for the offense committed.

The Court held that Gadon committed perjury for making allegations in his impeachment complaint not based on his personal knowledge or on any authentic records, contrary to his sworn guarantee in the verification attached to his complaint.

“Gadon knew that he never had any personal knowledge nor any authentic document to support the accusation that Sereno falsified a TRO of the Court. Yet, he still included this in his

verified impeachment complaint, attempting to lend a semblance of credibility to his unfounded accusation,” the SC said.

“This not only deceived the HOR, but also revealed an intent to inflict unnecessary harm to the reputation of a lawyer and former member of the Court,” it added.

The SC, however, stressed that the subsequent decision of the Court in the 2018 quo warranto case which nullified Sereno’s appointment and the preliminary findings of the House Committee on Justice do not absolve Gadon.

“His disregard for the verification requirement in impeachment complaints shows disrespect for the impeachment process, using it to advance his personal agenda rather than air genuine and legitimate grievances,” the SC said.

It can be recalled that in June 2023, the SC unanimously disbarred Gadon, in connection with his viral

video uttering profanities against Filipino journalist Raissa Robles in December 2021.

It said Gadon’s scandalous video discredits the entire legal profession.

Thus, the Court cited Gadon for violating Canon II on Propriety, of the Code of Professional Responsibility and Accountability (CPRA), which imposes the standard that “[a] lawyer shall, at all times, act with propriety and maintain the appearance of propriety in personal and professional dealings, observe honesty, respect and courtesy, and uphold the dignity of the legal profession consistent with the highest standards of ethical behavior.”

The Court noted in its ruling that there are six other administrative cases pending before the Office of the Bar Confidant against Gadon and four before the Commission on Bar Discipline of the Integrated Bar of the Philippines.

Duterte economic adviser snubs House hearing on ₧3.6-billion drugs seizure

By Jovee Marie N. Dela Cruz @joveemarie

CHINESE businessman Michael Yang, the economic adviser of former President Rodrigo Duterte, did not show up at the House of Representatives’ Committee on Dangerous Drugs hearing on the P3.6-billion illegal drug seizure in Mexico, Pampanga, in September last year.

The absence of Yang, despite an invitation extended by the committee, prompted the panel chaired by Surigao del Norte Rep. Robert Ace Barbers to issue another invitation to him

through his lawyer, who was present on his behalf and assured the committee that Yang would attend the future hearings.

The committee is seeking the former Duterte adviser because, based on documents, he is an incorporator, stockholder, or financier of several interlocking corporations linked to Empire 999 Realty Inc., the owner of the warehouse in Mexico, where a composite team of law enforcers seized the P3.6 billion worth of methamphetamine hydrochloride or shabu that entered the country through the Subic Freeport Zone.

The team included personnel of the National Bureau of Investigation, National

Police, Drug Enforcement Agency, and National Intelligence Coordinating Agency.

The inquiry was prompted by two resolutions filed by Senior Deputy Speaker Aurelio Gonzales Jr. and Zambales Rep. Jefferson Khonghun. Mexico is part of the Third District of Pampanga, that Gonzales represents in Congress.

Barbers said he wanted to know whether the proceeds from the P3.6-billion illegal drug importation found their way to the corporations.

He said based on his panel’s investigation and documents obtained from official

sources, three incorporations of Empire 999 and the other business entities “are not Filipino citizens.”

He identified them as Willie Ong, Aedy Tai Yang, and Jack Tai Yang.

He said the three were able to obtain Philippine passports using spurious and questionable documents.

He said Ong and the Yang brothers own 55 percent of Empire 999 and the other corporations.

Barbers asked the Philippine Statistics Authority, Department of Foreign Affairs, and Securities and Exchange Commission to

cancel the birth registrations of the three, their passports, and their corporate documents.

“They violated the constitutional provision on 60 percent Filipino and 40 percent foreign ownership of domestic corporations,” he said.

He also asked the Land Registration Authority to invalidate 292 land titles “covering hundreds if not thousands of hectares of land” issued to Ong, the Yang brothers, and other incorporators of the interlocking corporations.

“There is a pattern here to hide questionable activities behind a maze of corporate structures,” he said.

SM CARES, PLDT, AND SMART JOIN HANDS TO PROMOTE RESPONSIBLE

TO strengthen its efforts in promoting the responsible disposal of electronic waste, SM Cares, the corporate social responsibility arm of SM Supermalls, recently tapped PLDT Inc. (PLDT) and its wireless unit Smart Communications, Inc. (Smart), two of the leading telecommunications providers in the country for a strategic partnership that will expand SM’s Electronic Waste Collection (EWC) Program and drive further positive change in electronic waste management in the country. The partnership was launched to the public last April 22, 2024. In a short message, Joaquin L. San Agustin, SVP of SM Supermalls for Marketing, underscored the need for the responsible disposal of electronic waste to help minimize its impact on human health and the environment. He also thanked PLDT and Smart for partnering with SM for the initiative. “Through this partnership, our goal is to promote and expand the

households

Since

Tawi-Tawi receives ₧700 million in govt services, financial aid

By Jovee Marie dela Cruz @joveemarie

SOME 135,000 Tawi-Tawi residents received P700 million in combined government services and financial aid during the two-day Bagong Pilipinas Serbisyo Fair (BPSF) in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Speaker Ferdinand Martin G. Romualdez led the BPSF opening in the very first service caravan in the BARMM.

“We are thrilled to bring the government’ s services to TawiTawi in BARMM. No place is too far when we are united, whether

it’s in Mindanao or the islands of BARMM,” said Romualdez.

The BPSF event in Tawi-Tawi was the seventh in Mindanao and the 18th across the country. Gov. Yshmael I. Sali and Rep. Dimszar M. Sali served as local hosts, with over 95 members of the House of Representatives attending—the highest attendance for a Serbisyo Caravan event.

More than 40 national government agencies participated, providing 199 services to some 135,000 beneficiaries. Programs worth P699 million were rolled out, including P319 million in direct cash assistance.

The Department of Social Welfare and Development (DSWD) facilitated continuous payouts, benefiting 100,000 individuals under the Assistance to Individuals in Crisis Situations (AICS) program.

Additional activities included

various scholarship programs by the Technical Education and Skills Development Authority (Tesda) and the Commission on Higher Education (CHED), as well as livelihood assistance for pre-identified eligible clients throughout the island-province.

Romualdez has also distributed 222,100 kilos of rice to BPSF beneficiaries.

The BPSF in Tawi-Tawi will also launch two new programs: the Start-up, Incentives, Business Opportunity, and Livelihood (Sibol) Program and the Integrated Scholarship and Incentives for the Youth (Isip for the Youth) Program.

Sibol, an initiative by Romualdez, aims to encourage start-ups and provide sustainable economic opportunities to alleviate poverty and support resilience during crises.

Marcos leads distribution of land titles in Mindanao

By Jonathan L. Mayuga @jonlmayuga

PRESIDENT Marcos will lead the distribution of land titles to agrarian reform beneficiaries in Mindanao on Friday.

Marcos will be joined by Agrarian Reform Secretary Conrado M. Estrella III during the distribution ceremonies at the South Cotabato Gym and Cultural Center, in Koronadal City, and at the Zamboanga del Norte Convention Center in Dipolog City.

For the SOCCSKSARGEN Region, a total of 4,351 Cetificate of Land ownership Awards (CLOAs) and electronic titles (e-title) covering a total of 5,918 hectares will be distributed to 4,271 beneficiaries.

The land titles were generated under the agency’s regular comprehensive agrarian reform program (CARP) and the Support to Parcelization of Lands for Individual Titling or Project SPLIT.

Estrella said the distribution of titles is part of the government’s land tenure security program for landless farmers through the provision of individual land titles and support services to ARBs, which include among others the construction

of infrastructure facilities and farm-tomarket roads.

“This initiative is anticipated to have a profound effect on the security of land tenure for the ARBs in the region. By issuing these titles, the ownership of land will be recognized as a fulfillment to their longheld aspirations to own the lands they are tilling,” Estrella said.

Mariannie S. Lauban-Baunto, DAR SOCCSKSARGEN Regional Director said of the total of 4,351 land titles to be distributed, 1,184 titles are under the regular CARP covering 1,001.91 hectares intended for 1,436 ARBs. At the same time, 3,167 are e-titles under the Project SPLIT covering 4,916.5321 hectares, for 2,835 ARBs. In

Davao del Sur cacao, coffee growers get scientific, technology resource backup

By Manuel T. Cayon @awimailbox

DAVAO CITY—The Department of Science and Technology is putting up scientific and technology resource backup

to the farmers in the towns of Bansalan, Davao del Sur, notably for cacao and coffee, to improve their produce for better income level.

The DOST XI-Provincial Science and Technology Office in Davao del Sur has provided

funding support for cacao and coffee growers in barangay Managa amounting to P459,000.

Leslie Pearl Cancho, director of the PSTO Davao del Sur said the purpose of this funding is to support scientific and technological interventions “guided by project strategies based on five entry points of the Community Empowerment through Science and Technology [CEST] program of the DOST.”

“The CEST program aims to empower communities by providing them with knowledge and resources to address local issues through science and technology,” she said.

The backup technology and other scientific resources would revolve around technology promotion, technology transfer, entrepreneurship and commercialization.

She said that by integrating these entry points, the program aims to enhance the abilities of communities to use science and technology to improve their living conditions. Cancho said the funding can effectively leverage science and technology to drive sustainable development and facilitate

the procurement of additional equipment needed to strengthen the cacao and coffee industry in Bansalan.

Cancho said the Bansalan local government and the DOST XI would like to unlock the town’s “true potential ushering in positive change to the community of coffee and cacao processors in barangay Managa.”

A total of 63 cacao and 367 coffee farmers in barangay Managa are the target beneficiaries of the plan set by the PSTO in Davao del Sur as part of the Smart Cities and Communities Project.

“This initiative aims to improve the economic and social conditions in

Bansalan by using science and technology. The goal is to create a better future for the town and its residents by working together towards building a smart, sustainable, resilient, inclusive, and technologydriven community,” she said. She said the program support underwent assessments of the community’s needs, visits to the project site, presentations, and evaluations. Finally, a memorandum of agreement was signed.

The DOST said Christian Roy Moreno, who was then the acting Municipal Administrator of Bansalan, formally received the funds.

Editor: Angel R. Calso

12 Palestinians killed, 25 wounded in Israel’s 2-day West Bank operation

By The Associated Press

THE Israeli military said Thursday it has completed a two-day operation in the occupied West Bank that the Palestinian Health Ministry says killed 12 Palestinians and wounded 25.

Rippling tensions from the Israel-Hamas war were also felt in the Red Sea, where a missile splashed down in the water near the crucial Bab el-Mandeb Strait on Thursday, but caused no damage, and in Lebanon, where staterun National News Agency says an Israeli drone strike killed one person and wounded three school students who were passing nearby in a bus. More than 400 people have been killed in Lebanon since Israel and Hezbollah began exchanging fire the day after the latest war in Gaza began.

Norway, Ireland and Spain said Wednesday they were recognizing a Palestinian state, a move welcomed by Palestinians as an affirmation of their decades long quest while Israel recalled its ambassadors to

the three countries.

It was the second blow to Israel’s international reputation this week after the chief prosecutor of the International Criminal Court said he would seek arrest warrants for Israeli Prime Minister Benjamin Netanyahu and his defense minister. The International Court of Justice is also considering allegations of genocide that Israel has strenuously denied.

At least 35,000 Palestinians have been killed, according to Gaza’s Health Ministry, which doesn’t distinguish between combatants and civilians.

Israel launched its war in Gaza after Hamas’ October 7 attack in which militants stormed into southern Israel, killed about 1,200 people—mostly civilians—and

abducted about 250.

Meanwhile, Lebanon’s state-run

National News Agency says an Israeli drone strike killed one person and wounded three school students who were passing nearby in a bus.

The agency said the Thursday morning strike damaged the bus and destroyed a car on a road leading to the southern market town of Nabatiyeh. It said the wounded students were taken to hospitals in the area.

The man who was killed was

identified as Mohammed Farran, whom Hezbollah identified as one of its members.

Israeli airstrikes have killed scores of Hezbollah members in recent months.

The exchange of fire between Hezbollah and Israel began a day after the Israel-Hamas war broke out on October 7. Since then, more than 400 people have been killed in Lebanon. Most of the dead were fighters, but more than 70 were civilians and non-combatants.

Canberra, in a reference to Monday’s presidential inauguration.

TBy Christopher Bodeen The Associated Press

AIPEI, Taiwan—Taiwan scrambled jets and put missile, naval and land units on alert Thursday over Chinese military exercises being conducted around the self-governing island democracy where a new president took office this week.

China’s military said its twoday exercises around Taiwan were punishment for separatist forces seeking independence. Beijing claims the island is part of China’s national territory and the People’s Liberation Army sends navy ships and warplanes into the Taiwan Strait and other areas around the island almost daily to wear down Taiwan’s defenses and seek to intimidate its people, who firmly back their de facto independence.

China’s “irrational provocation has jeopardized regional peace and stability,” the island’s Defense Ministry said. It said Taiwan will seek no conflicts but “will not shy away from one.

“This pretext for conducting military exercises not only does not contribute to peace and stability across the Taiwan Strait, but

alert over China’s military drills

Taiwan scrambles jets and puts missile, navy and army on

also shows its hegemonic nature at heart,” the ministry’s statement said.

In his inauguration address on Monday, Taiwan’s President Lai Ching-te called for Beijing to stop its military intimidation and pledged to “neither yield nor provoke” the mainland Communist Party leadership.

Lai has said he seeks dialogue with Beijing while maintaining Taiwan’s current status and avoiding conflicts that could draw in the island’s chief ally the US and other regional partners such as Japan and Australia.

The People’s Liberation Army’s Eastern Theater Command said the land, navy and air exercises around Taiwan are meant to test the navy and air capabilities of the PLA units, as well as their joint strike abilities to hit targets and win control of the battlefield, the command said on its official Weibo account.

“This is also a powerful punishment for the separatist forces seeking ‘independence’ and a serious warning to external forces for interference and provocation,” the statement said.

The PLA also released a map of

the intended exercise area, which surrounds Taiwan’s main island at five different points, as well as places like Matsu and Kinmen, outlying islands that are closer to the Chinese mainland than Taiwan.

China’s coast guard also said in a statement that it organized a fleet to carry out law enforcement drills near two islands close to the Taiwanese-controlled island groups of Kinmen and Matsu just off the Chinese coast.

While China has termed the exercises as punishment for Taiwan’s election result, the Democratic Progressive Party has now run the island’s government for more than a decade, although the pro-China Nationalist Party took a one-seat majority in the parliament.

Speaking in Australia, Marine Corps Lt. Gen. Stephen Sklenka, the deputy commander of the US Indo-Pacific Command, called on Asia-Pacific nations to condemn the Chinese military exercises.

“There’s no surprise whenever there’s an action that highlights Taiwan in the international sphere the Chinese feel compelled to make some kind of form of statement,” Sklenka told the National Press Club of Australia in the capital

“Just because we expect that behavior doesn’t mean that we shouldn’t condemn it, and we need to condemn it publicly. And it needs to come from us, but it also needs to come, I believe, from nations in the region. It’s one thing when the United States condemns the Chinese, but it has a far more powerful effect, I believe, when it comes from nations within this region,” Sklenka added.

Japan’s top envoy weighed in while visiting the US, saying Japan and Taiwan share values and principles, including freedom, democracy, basic rights and rule of law.

“(Taiwan) is our extremely important partner that we have close economic relations and exchanges of people, and is our precious friend,” Foreign Minister Yoko Kamikawa told reporters in Washington, where she held talks with Secretary of State Antony Blinken.

She said the two ministers discussed Taiwan and the importance of the Taiwan Strait, one of the world’s most important waterways for shipping, remaining peaceful.

The Associated Press reporters Rod McGuirk in Melbourne, Australia, and Mari Yamaguchi in Tokyo contributed to this report.

Thailand’s Constitutional Court agrees to hear case that could imperil the PM

By Napat Kongsawad The Associated Press

BANGKOK—Thailand’s Constitutional Court accepted a petition Thursday from members of the country’s outgoing Senate to begin an ethics probe against the prime minister over his appointment of a Cabinet member.

If eventually found guilty, Prime Minister Srettha Thavisin could be ousted from his position. The court ruled that Srettha’s appointment of Pichit Chuenban as minister of the Prime Minister’s Office was in violation of Section 160 of the constitution, which requires those in ministerial posi-

tions to “be of evident integrity” and bars those who fail to comply with ethical standards.

Pichit was jailed for six months in 2008 on contempt of court charges after he tried to bribe a judge presiding over former Prime Minister Thaksin Shinawatra’s land purchase case with 2 million baht ($55,000) in a grocery bag.

Pichit resigned from his post Tuesday in what he described in his resignation letter as an effort to protect the prime minister. The minister of the Prime Minister’s Office is a position similar to the president’s chief of staff in the United States. Pichit had been in the job for 23 days following

a cabinet reshuffle in late April.

The petition from 40 senators is seen as the biggest challenge Srettha’s government has faced since it came to power in August 2023. The complaint comes even after the current batch of senators officially ended their terms on May 11. The process of selecting a new Senate began this week and is supposed to be concluded in July.

Srettha survived an initial suspension vote Thursday, after the court voted 5-4 to not suspend the prime minister. Srettha now has 15 days to justify Pichit’s nomination to the court. After that, the court will deliberate on his suspension or impeachment.

The Constitutional Court has a record of rulings that favor the country’s conservative establishment, which is suspicious of political parties with populist leanings. Srettha and the ruling Pheu Thai Party are part of former Prime Minister Thaksin’s political machine. Thaksin was ousted by a military coup in 2006. His electoral popularity was seen as a threat to the influence of the traditional elite, including the army. His ouster set up years of struggle between his supporters and his opponents, sometimes fought in the streets, and sometimes in the courts. Thaksin-backed parties continue to perform strongly in elections, however.

The World

IN this combination photos, South Korean President Yoon Suk Yeol, left, makes some remarks to the media in London on Nov. 22, 2023, Chinese Premier Li Qiang, center, waits at the Great Hall of the People in Beijing on April 7, 2024, and Japanese Prime Minister Fumio Kishida speaks in Washington on April 10, 2024. Leaders of South Korea, China and Japan will meet next week in Seoul for their first trilateral talks since 2019, South Korea’s presidential office announced on Thursday, May 23, 2024. AP

Leaders of South Korea, China and Japan will meet next week for the first time since 2019

SEOUL, South Korea—Leaders of South Korea, China and Japan will meet next week in Seoul for their first trilateral talks in more than four years, South Korea’s presidential office announced Thursday.

The trilateral summit among South Korean President Yoon Suk Yeol, Chinese Premier Li Qiang and Japanese Prime Minister Fumio Kishida will take place in Seoul on Monday, Yoon’s presidential office said.

The three leaders were scheduled to hold bilateral talks among themselves on Sunday, according to the South Korean presidential office.

Since their inaugural stand-alone trilateral summit in 2008, the three Asian countries were supposed to hold such a meeting among their leaders each year. But the summit has

been suspended since they were last held in December 2019 in China.

Efforts to boost cooperation among the Asian neighbors often hit snags because of a mix of issues, including historical disputes stemming from Japan’s wartime aggression and the strategic competition between China and the United States.

Ties between South Korea and Japan deteriorated severely due to issues originating from Japan’s 1910-45 colonization of the Korean Peninsula. But their relations warmed significantly since 2023 as the two countries took a series of major steps to move beyond that history and boost cooperation in the face of North Korea’s advancing nuclear program and other shared challenges.

G7 grapples with Russian asset dilemma as Ukraine’s finances teeter on the brink

By David Mchugh & Fatima Hussein The Associated Press

FRANKFURT,

Germany—

Ukraine’s allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv’s war effort, a debate that is ever more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine’s state finances looks shakier.

What to do with the Russian central bank reserves frozen in response to the invasion of Ukraine is at the top of the agenda as finance officials from the Group of Seven rich democracies meet Thursday through Saturday in Stresa, Italy, on the shores of scenic Lago Maggiore.

The issue: While Ukraine and many of its supporters have called for the confiscation of $260 billion in Russian assets frozen outside the country after the February 24, 2022 invasion, European officials

have resisted, citing legal and financial stability concerns. Most of the frozen assets are located in Europe.

Yet a European plan to merely use the interest on the Russian funds would provide only a trickle of money every year—some $2.5

billion-$3 billion at current interest rates. That would barely meet a month’s financing needs for the Ukrainian government.

US Treasury officials and outside economists are proposing ways to turn that annual trickle into a much larger chunk

of upfront cash. That could done be through a bond that would be repaid by the future interest income, giving Ukraine the money immediately. The ministers meet with Ukrainian Finance Minister Sergii Marchenko on Saturday.

US Treasury Secretary Janet Yellen said during a speech Monday in Frankfurt, Germany that “it’s vital and urgent that we collectively find a way forward to unlock the value of Russian sovereign assets in our jurisdictions for the benefit of Ukraine.”

The debate is being revived after President Joe Biden in April signed into law the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, which allows the administration to seize the roughly $5 billion in Russian state assets located in the US. The law was included in the US aid package for Ukraine and other nations, which includes roughly $61 billion for Ukraine’s defense.

Ukraine spends almost the entirety of its tax revenue on the military and needs another $40 billion a year to continue paying old-age pensions and the salaries of doctors, nurses and teachers—the glue that holds society together under dire wartime circumstances. Support from allies and a $15.4 billion loan from the International Monetary Fund was initially thought to have secured the budget for four years, but the prospects of an extended conflict have darkened the outlook.

Ukraine depends on its allies for that money because the war keeps the government from accessing international bond market borrowing. The alternative would be printing money at the central bank, which risks igniting hyperinflation.

Thanks to EU support and the US aid package, passed after months of delay, this year’s budget “looks decent in terms of budget financing” but “next year is going to be much more challenging,” said Benjamin Hilgenstock, senior economist at the Kyiv School of Economics Institute.

The ministers will seek to build consensus ahead of the June 13 summit of G7 national leaders summit in Italy.

Yellen will also talk during the three-day meeting about China’s outsized, state-backed production of green energy technology, which the US considers a threat to the global economy. It has been a little more than a month since she traveled to China to speak with her counterparts in Guangzhou and Beijing about the nation’s massive subsidies to its electric vehicles, batteries, solar energy equipment and other products.

Since then, the US has imposed major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. Included is a 100 percent tariff on Chinesemade EVs, meant to protect the US economy from cheap Chinese imports.

A Treasury spokesperson who talked on the condition of anonymity to preview the meetings, also said the finance ministers would also discuss humanitarian aid for Gaza, and would use bilateral meetings to talk about Iran’s destabilizing actions in the Middle East through proxies.

The G7 are: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Representatives of the European Union also take part but the EU does not serve as one of the annually rotating chairs.

Russia begins tactical nuclear weapons drills in apparent warning to West over Ukraine

RBy The Associated Press

USSIA’S military has begun drills involving tactical nuclear weapons that were announced by Russian authorities earlier this month in an apparent warning to senior Western officials who had spoken about the possibility of deeper involvement in the war in Ukraine.

It was the first time Russia has publicly announced drills involving tactical nuclear weapons, although its strategic nuclear forces regularly hold exercises.

According to a statement by the Defense Ministry released Tuesday, the first stage of the new drills envisioned “practical training in the preparation and use of non-strategic nuclear weapons,” including nuclear-capable Kinzhal and Iskander missiles.

The maneuvers are taking place in the Southern Military District, which consists of Russian regions in the south, including on the border with Ukraine; Crimea, illegally annexed from Ukraine in 2014; and four Ukrainian regions that Russia illegally annexed in 2022 and partially occupies.

The drills were announced on May 6, with the Defense Ministry saying in a statement that they would come in response to “provocative statements and threats of certain Western officials regarding the Russian Federation.”

Tactical nuclear weapons include air bombs, warheads for short-range missiles and artillery munitions and are meant for use on a battlefield. They are less powerful than the strategic weapons—massive warheads that arm intercontinental ballistic missiles and are intended to obliterate entire cities. The announcement came after French President Emmanuel Macron reiterated that he doesn’t exclude sending troops to Ukraine, and UK Foreign Secretary

David Cameron said Kyiv’s forces will be able to use British long-range weapons to strike targets inside Russia. The Kremlin branded those comments as dangerous, heightening tension between Russia and NATO.

Kremlin spokesman Dmitry Peskov said on May 6 that Macron’s statement and other remarks by British and US officials had prompted the nuclear drills, calling the remarks “a new round of escalation.”

ICC prosecutor’s arrest warrants requests for Israel and Hamas leaders ignite debate about court’s role

By Mike Corder The Associated Press

THE HAGUE, Netherlands—The stunning announcement that the International Criminal Court is considering issuing an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for war crimes and crimes against humanity has ignited a fierce debate about the court’s future as an independent arbiter.

The request by Prosecutor Karim Khan against the leader of a close US ally also comes as the United Nations’ highest court, the International Court of Justice, is investigating whether Israel has committed genocide during its seven-month war against Hamas in Gaza.

Although human rights activists generally welcomed Khan’s move on Monday, which also included requests to arrest Israel’s defense minister and three Hamas leaders, Netanyahu told ABC News that Khan’s decision turned the ICC into a “pariah institution.”

In Washington, where Senate Republicans have threatened sanctions against ICC staff, Secretary of State Antony Blinken said the Hague-based court doesn’t have jurisdiction and that it was “extremely wrongheaded” for the prosecutor to equate the Israeli officials with the Hamas leaders he’s seeking to indict.

Blinken said Tuesday that the Biden administration would work with Congress to come up with an appropriate response.

Khan has warned that attempts to interfere with the ICC’s work would be an offense under its founding treaty, the Rome Statute. However, the warning may not carry much weight, as world powers including the US, Israel, China and Russia, aren’t members of the court and don’t recognize its jurisdiction

European countries generally support the court, with France and Belgium underscoring their backing after Monday’s announcement.

“France supports the International Criminal Court, its independence, and the fight against impunity in all situations,” the country’s foreign ministry said in a statement late Monday, around the same time Belgium’s foreign minister expressed support for the tribunal.

Some Palestinians were critical of a perceived lack of reach in Khan’s requests.

In an opinion piece on the Global Issues website, analyst Mouin Rabbani

wrote that Khan had ignored any and all “issues unconnected with the current situation in the Gaza Strip.”

Nour Odeh, a Palestinian political analyst in Ramallah, said she wasn’t surprised that Khan also sought charges against Hamas leaders, but noted in a text that he “had more charges against Hamas leaders than Israel which is a politicized choice that I find very cynical on his part.”

The ICC prosecutor’s office has been investigating alleged crimes in the Palestinian territories dating back to 2014 and could seek more arrest warrants in the future.

Nevertheless, Khan’s announcement Monday marked the first time in its more than two-decade existence that the global court’s prosecutor has sought to charge the leader of an important US ally.

Israeli leaders fiercely deny they have committed crimes, saying they are defending their nation and abiding by international law. Because Israel doesn’t recognize the ICC’s jurisdiction, even if judges were to issue warrants, there is no immediate prospect of Netanyahu and Defense Minister Yoav Gallant being arrested anytime soon.

A decision on whether to issue warrants is expected to take several weeks. The legal bar for approving warrants is relatively low. Judges need to find “reasonable grounds to believe” that crimes outlined in Khan’s request were committed. In the past, judges have generally approved such requests.

“This is a watershed event in the history of international justice,” human

rights lawyer Reed Brody, who has gone after leaders including Augusto Pinochet of Chile and former Chad strongman Hissène Habré, wrote in an email.

“The ICC has never, in over 21 years of existence, indicted a western official. Indeed, no international tribunal since Nuremberg has done so.”

And it might have an impact.

“The Court as an institution is overwhelmingly supported by Western governments. But that might not always be true in the future,” Tom Ginsburg, a professor of international law at the University of Chicago Law School, told The Associated Press in an email. “By charging the head of a Western-supported government along with a terrorist leader, the Court is making an appeal to even-handedness.”

Also unusual—and indicative of the profound sensitivity of the request to charge Israeli and Hamas leaders—was Khan’s decision to consult a panel of top legal experts, including lawyer Amal Clooney, before seeking warrants.

“Clearly the prosecutor wanted some cover from prominent international lawyers for a highly charged decision,” said Ginsburg.

“By including Amal Clooney, he will ensure a lot of attention; by including Theodore Meron, a former legal advisor to the Foreign Ministry in Israel and prominent former judge of international criminal tribunals, he seeks to insulate himself from the charge of bias,” he added.

The Associated Press writer Sarah El Deeb in Beirut contributed

EXTERIOR view of the International Criminal Court, or ICC, in The Hague, Netherlands on April 30, 2024. The International Criminal Court’s chief prosecutor said Monday, May 20, 2024, that he’s seeking arrest warrants for both Israeli and Hamas leaders in connection with their actions during the seven-month war. AP/PETER DEJONG

BRITAIN’S Prime Minister Rishi Sunak gestures during a General Election campaign event at ExCeL London, in east London, Wednesday, May 22, 2024, after setting the date of July 4 for a national election in the UK. STEFAN ROUSSEAU/PA VIA AP

UK politicians start 6-week election campaign framed as choice between continuity and change

By Jill Lawless Associated Press

LONDON—Britain’s political party leaders were crisscrossing the country on Thursday, the first day of a six-week election campaign in which voters will decide whether to end the governing Conservatives’ 14 years in power.

Prime Minister Rishi Sunak, battling to overcome the widespread sense that his party is on the ropes, gambled on an earlier-than-expected July 4 election, arguing his party can give the country security in turbulent times. The main opposition Labour Party says it will bring muchneeded change after years of political and economic turmoil under the Tories.

“We will stop the chaos,” said Labour leader Keir Starmer, the current favorite to be Britain’s next prime minister. He said that if the Conservatives “get another five years, they will feel entitled to carry on exactly as they are. Nothing will change.”

“You now have the power, the chance to end the chaos, to turn the page and rebuild Britain,” he told voters at a campaign stop in southeast England.

Sunak took many of his own lawmakers by surprise when he called the election Wednesday, in an ill-starred televised announcement outside 10 Downing St. that saw him drenched with rain and drowned out by protesters blasting a Labour campaign song.

Most had expected a fall election after Sunak said repeatedly that the vote would be in the second half of the year. July 4 fits that bill, barely.

Sunak, who plans to visiting England, Scotland, Wales and Northern Ireland in the next 48 hours, said Thursday that the election call showed “I’m prepared to take bold action.”

“Uncertain times demand bold action in order to deliver security,” he told the BBC. “That’s what I will bring.”

Others called the decision risky at best, foolish at worst.

Elections in the UK have to be held no more than five years apart, but the prime minister can choose the timing within that period. Sunak, 44, had until December to name the date.

Sunak fired the starting pistol on the day official figures showed UK inflation falling to 2.3 percent, allowing Sunak he had met a key pledge of getting rising prices under control. Inflation peaked at more than 11 percent in late 2022.

Sunak’s center-right party has been in power since 2010, and last won an election in December 2019. Since then it has struggled to overcome a series of crises including an economic slump, ethics scandals and a revolving door of leaders in the past two years.

Sunak took office in October 2022 following the disastrous tenure of Liz Truss, who lasted only 49 days after her economic policies rocked financial markets. Truss had been chosen by party members after Boris Johnson was ousted over a series of ethics scandals.

The election will be held against the backdrop of a costof-living crisis and deep divisions over how to deal with migrants and asylum seekers making risky English Channel crossings from Europe.

Starmer, a former chief prosecutor for England and Wales, is the current favorite. He has dragged the party towards the political center ground since being elected leader in 2020 to replace Jeremy Corbyn, a staunch socialist who led Labour to two election defeats.

Voters across the United Kingdom will choose all 650 members of the House of Commons for a term of up to five years. The party that commands a majority in the Commons, either alone or in coalition, will form the next government and its leader will be prime minister.

Many unknowns stand between both main party and a majority of seats in Parliament, including the different political landscape in Scotland, where the pro-independence Scottish National Party has dominated for years. The SNP is undergoing its own woes, and Labour hopes for a resurgence.

The centrist Liberal Democrats also sometimes challenge Labour but mostly pose a threat to the Conservatives in south and southwest England.

The hard-right Reform UK party—formerly the Brexit Party of Nigel Farage—could pose a threat to the Conservatives in parts of England’s former industrial heartland that the Conservatives won, often for the first time, in 2019.

Farage, who has never been elected to Parliament despite multiple attempts, said Thursday that he would not run in the election, but would “do my bit to help,” likely in his role as TV talk show host and hard-line firebrand.

Farage, who is Reform’s honorary president, indicated that his focus will be in the United States, where he is an ally of former President Donald Trump.

“Important though the general election is, the contest in the United States of America on November 5 has huge global significance,” Farage said on social media. “A strong America as a close ally is vital for our peace and security. I intend to help with the grassroots campaign in the USA in any way that I can.”

Aid from US pier in Gaza reached starving Palestinians, the UN says

By Ellen Knickmeyer The Associated Press

WASHINGTON—The UN World Food Program said Wednesday that it has handed out in Gaza in recent days a “limited number” of high-energy biscuits that arrived from a US-built pier, the first aid from the new humanitarian sea route to get into the hands of Palestinians in grave need.

The small number of biscuits came in the first shipments unloaded from the pier Friday, WFP spokesman Steve Taravella said. The US Agency for International Development told The Associated Press that a total of 41 trucks loaded with aid from the more than $320 million pier have reached humanitarian organizations in Gaza.

“Aid is flowing” from the pier, US national security adviser Jake Sullivan told reporters Wednesday in response to questions about the troubled launch of aid deliveries from the maritime project. “It is not flowing at a rate that any of us are happy with.”

Pentagon spokesman Maj. Gen. Patrick Ryder told reporters Tuesday that he did not believe any of the aid from the pier had yet reached people in Gaza. Sullivan said a day later that some aid had been delivered “specifically to the Palestinians who need it.”

American officials hope the pier at maximum capacity can bring the equivalent of 150 truckloads of aid to Gaza each day. That’s a fraction of the 600 truckloads of food, emergency nutritional treatments and other supplies that USAID says are needed each day to bring people in Gaza back from the start of famine and address the humanitarian crisis brought on by the seven-month-old Israel-Hamas war.

Israeli restrictions on land crossings and a surge in fighting have cut deliveries of food and fuel in Gaza to the lowest levels since the first months of the war, international officials say. Israel’s takeover this month of the Rafah border crossing, a key transit point for fuel and supplies for Gaza, has contributed to bringing aid operations near collapse, the UN and relief groups say.

All 2.3 million people of Gaza are struggling to get food, according to aid groups, with the heads of the WFP and USAID having said famine has begun in north Gaza.

The US pier project to bring aid to Gaza via the Mediterranean Sea has had a troubled launch, with groups of people overrunning a convoy Saturday and taking most of the supplies and a man in the crowd who was shot dead in still-unexplained circumstances.

Saturday’s chaos forced suspension of aid convoys from the pier for two days. Shada Moghraby, the WFP’s spokesperson at the UN, said trucks carrying aid from the pier arrived at a UN warehouse Tuesday and Wednesday, but it wasn’t clear how many.

The WFP had warned this week that the US project could fail unless Israeli authorities gave clearances and cooperation for alternate land routes and better security.

Humanitarian officials and the US say the sea route is not a replacement for bringing aid through land crossings, and they have repeatedly called on Israel to allow a steady large flow of trucks through entry points and to ensure aid workers are safe from the Israeli military.

Israel insists it puts no restriction on the number of trucks entering Gaza and has blamed “lack of logistical capabilities and manpower gaps” among aid groups. But Israel’s military operations make it very difficult for groups to retrieve the aid.

AP writer Edith M. Lederer contributed from the United Nations.

Fed’s inflation debate shifts

to

Ahow much prices can drop

By Molly Smith

S Federal Reserve officials stare down the last mile in their campaign against inflation, one key question is becoming increasingly central to the debate: Will goods prices continue to fall?

Lower prices for everything from apparel to used cars were a major driver of the faster-than-expected downdraft in inflation in the second half of 2023, and a slower pace of price declines since then has contributed to higher readings so far over the first several months of 2024.

Whether supply chains are fully healed from pandemic and war-related disruptions or not has policymakers divided on the outlook. Fed Chair Jerome Powell suggested last week that “we could get more” improvement and thus lower prices. Some of his colleagues seem more skeptical.

“The real wild card on the inflation outlook is the goods side of the equation,” said Scott Anderson, chief US economist at BMO Capital Markets.“It will continue to keep the Fed cautious.”

Fed officials at their April 30-May 1 policy meeting left their benchmark interest rate unchanged at a 23-year high and signaled a later start to rate cuts than previously anticipated after disappointing inflation readings in the first quarter.

Minutes of the gathering published Wednesday underscored the importance of developments on the goods front: “While supply chain improvements had supported disinflation for goods prices over the previous year, participants commented that an expected more gradual pace of such improvements could slow progress on inflation,” the record showed.

Car prices

A MEASURE in the consumer price index of so-called core goods, excluding food and energy, rose in February for the first time in nine months, in part due to an increase in prices of used cars. New- and used- car prices have since been falling, and some economists expect that to continue given weaker demand due to high interest rates, as well as greater supply.

Another category with a substantial weight in the CPI is apparel, which advanced in each of the last three months. April’s monthly increase alone was the largest since June 2020.

Meanwhile, prices for household furnishings have reliably fallen for the past year, unwinding the rapid increases during the pandemic when consumers invested heavily in home renovations. In those times, when demand was high and supply was strained, logistics often failed to keep up and delivery times dragged out for months.

Now, those factors appear to have largely normalized: The New York Fed’s Global Supply Chain Pressure Index—which brings together 27 variables that take the temperature of everything from cross-border transportation costs to country-level manufacturing data—has eased over the past year, after surging to record levels in late 2021.

Still, many on Wall Street are optimistic that core goods prices can continue moving lower in the months ahead amid ongoing improvements on the supply

and

Biden and Kenyan leader urge global leaders to lessen crushing debt on developing nations

By Aamer Madhani The Associated Press

WASHINGTON—President

Joe Biden and Kenyan

President William Ruto are using the first state visit to the United States by an African leader in more than 15 years to call on economies around the globe to take action to reduce the enormous debt burden crushing Kenya and other developing nations.

The call to action, dubbed the Nairobi-Washington Vision, comes as Biden presses his appeal to African nations that the US can be a better partner than economic rival China. Beijing has been deepening its investment on the continent—often with highinterest loans and other difficult financing terms.

Biden and Ruto want creditor nations to reduce financing barriers for developing nations that have been constrained by high debt burdens. They also call on international financial institutions to coordinate debt relief and support through multilateral banks

and institutions providing better financing terms.

“Together we will call to the international community to come together around these elements to support high-ambition countries with high-ambition financial support,” the White House said in a fact sheet detailing the effort.

The White House also announced $250 million in grants for the International Development Association, part of the World Bank, to assist poor countries facing crises.

Separately, a $1.2 trillion government funding bill passed by Congress in March allows the US

to lend up to $21 billion to an International Monetary Fund Poverty Reduction and Growth Trust, which provides zero-interest loans to support low-income countries as they work to stabilize their economies, boost growth and improve debt sustainability. That funding is expected to be made available to the IMF in the coming weeks.

Biden and Ruto are set to hold formal talks and a joint news conference on Thursday before a state dinner in a pavilion on the South Lawn of the White House.

An Associated Press analysis of a dozen countries most indebted to China—including Pakistan, Kenya, Zambia and Laos—found the debt is consuming an ever-greater amount of tax revenue needed to keep schools open, provide elec-

tricity and pay for food and fuel.

Behind the scenes is China’s reluctance to forgive debt and its extreme secrecy about how much money it has loaned and on what terms, which has kept other major lenders from stepping in to help.

Kenya’s debt-to-GDP ratio tops 70%, with the bulk of it owed to China. Credit ratings agency Fitch estimates Kenya will spend almost one-third of its government revenues just on interest payments this year.

Ruto said Wednesday that his talks with Biden will address “how we can have a fairer international financial system where all countries are treated equally.”

Biden was also informing Congress on Thursday that he will designate Kenya a major non-NATO

Former UK Post Office boss breaks down in inquiry over scandal that saw hundreds wrongly

By Pan Pylas

The Associated Press

LONDON—The former head of Britain’s Post Office Paula Vennells broke down in tears on several occasions as she gave evidence Wednesday to an inquiry into one of the country’s biggest miscarriages of justice that saw hundreds of branch managers wrongly convicted of theft or fraud because of a faulty computer system.

Vennells, who earlier this year gave back her Commander of the Order of the British Empire title that she received in 2019, admitted that she had “made mistakes” but denied there was a conspiracy to cover up the scandal.

“I have no sense that there was any conspiracy at all,” she said. “My deep sorrow in this is that I think that individuals, myself included, made mistakes, they didn’t see things and hear things.”

After the Post Office introduced the Horizon information technology system 25 years ago to automate sales accounting, local managers began finding unexplained losses that bosses said they were responsible for covering.

The Post Office maintained that Horizon, which was made by the Japanese company Fujitsu, was reliable and accused branch managers of dishonesty. Vennells, who was chief executive from 2012 to 2019, a period that included the last few years of the scandal, had for years insisted that the system was “robust” despite the hundreds of workers who said they had done nothing wrong.

Between 2000 and 2014, more than 900 postal employees were wrongly convicted of theft, fraud and false accounting, with some imprisoned and others forced into bankruptcy.

The number of victims is not fully known. The British government has introduced legislation to reverse the convictions, brought by the Post Office itself.

The company, which is stateowned but operates as a private business, has a unique function whereby it can prosecute its own staff without the need to contact police or state prosecutors. However, current executives said they couldn’t imagine using it again given what happened.

“I did probe and I did ask questions, and I’m disappointed where information wasn’t shared, and it has been a very important time for me to plug some of those gaps,” she said in her first public remarks about her role in the scandal for nearly a decade.

The inquiry’s chief counsel, Jason Beer, pondered whether Vennells was perhaps the “unluckiest CEO in the United Kingdom.”

Vennells, who insisted she was unaware of bugs in the Horizon system, is due to testify for three days.”

“One of my reflections of all of

this – I was too trusting,” she said.

When she was grilled about postmaster Martin Griffiths, who deliberately stepped in front of an oncoming bus in September 2013 and died weeks later, after he had been falsely accused of taking thousands of pounds from his branch, she broke down.

She also stopped mid-answer for a tissue when she was asked why she had told lawmakers in Parliament that the Post Office had been successful in every case against branch managers.

Vennells, 65, is also an ordained priest, apologized for her comment that subpostmasters and subpostmistresses had been “tempted to put their hands in the till” and said it was an “assumption” she made.

Questioned on whether she put the needs of the business over the suffering of subpostmasters, Vennells admitted there “will be many examples of where that is clearly the case.”

While Vennels was CEO, a group of postal workers took legal action against the Post Office in 2016. Three years later, the High Court

ally, according to the White House

The designation, while largely symbolic, reflects how Kenya has grown from a regional partner that has long cooperated with US counterterrorism operations on the continent to a major global influence—even extending its reach into the Western Hemisphere. Kenya will be the first sub-Saharan African country to receive the status.

Kenya is expected to soon deploy 1,000 police officers to Haiti to help quell gang violence that has ravaged the Caribbean nation for months. The Biden administration has praised Kenya for stepping up in Haiti when so few other countries have declined to do so. Haiti is the Western Hemisphere’s poorest nation and has been mired in political instability and natural disasters for decades.

The US has pledged $300 million in financial assistance for the Haiti mission, which will also include support from the Bahamas, Barbados, Benin, Chad and Bangladesh. Ruto is expected to discuss the coming mission with Biden, Defense Secretary Lloyd Austin and other officials during his Washington talks.

Ruto arrived in Washington on Wednesday and began his threeday state visit by meeting with Biden and tech executives from Silicon Valley and Kenya’s growing tech sector—known as the Silicon

convicted

in London ruled that Horizon contained a number of “bugs, errors and defects” and that the Post Office “knew there were serious issues about the reliability” of the system, including that employees at Fujitsu could remotely access the ledgers of branch managers.

Vennells opened her testimony with an apology to the victims, many of whom were present.

“I actually felt emotional for her because she is up there and she has got all these eyes there that are just full of hatred towards her and that must be such an overwhelming, horrible, intense feeling,” said former branch manager Janet Skinner, who was sentenced to nine months in prison in 2007 for false accounting.

“Everybody has chucked mud at her, it’s time for her to open up and be quite open and honest about who was at the forefront of it all,” she added.

The moment of reckoning was a long time in the making, but it was turbocharged by a four-part television docudrama that aired earlier this year.

The ITV show, “Mr. Bates vs the Post Office,” told the story of branch manager Alan Bates, played by Toby Jones, who has spent nearly two decades trying to expose the scandal and exonerate his peers. Vennells was portrayed by Lia Williams.

Despite hundreds of news stories over the years about court hearings and the continuing public inquiry, the show seen by millions rapidly galvanized support for victims of the injustice.

Bates said outside the inquiry that he had “no sympathy” for Vennells.

“The whole thing is upsetting for everybody, including for so many of the victims,” he said. “I’ve got no sympathy really.”

Savannah.

Administration officials said that several private sector investments are expected to be announced during the visit. The Kenyan president told the tech executives that Kenya—and Africa more broadly—have a young, innovative populace that is “hungry for opportunities.”

“I think we have a historic moment to explore investment opportunities between Kenya and the United States,” Ruto said.

Biden gathered dozens of African leaders in Washington in December 2022 to make the case that the United States under his watch was “all in” on Africa’s future. He laid out billions in promised government funding and private investment on the continent in health, infrastructure, business and technology. The Democrat also promised to visit sub-Saharan Africa in 2023.

But other priorities got in the way last year, including the IsraelHamas war and Biden’s long battle with Republicans to renew funding for Ukraine in its war with Russia. The promised visit to Africa by Biden never materialized. Biden, who faces a tough reelection battle in November, said in an exchange with reporters as Ruto arrived at the White House on Wednesday that he still plans to go to Africa.

“I plan on going in February after I’m reelected,” Biden said.

In riot-hit New Caledonia, French President Macron

RENCH

says the priority is a return to calm

By Claire Rush & John Leicester The Associated Press

archipelago

which has left six dead and a trail of destruction on the archipelago where Indigenous Kanak people have long sought independence from France.

Pro-independence Kanak leaders, who a week earlier declined Macron’s offer of talks by video, joined a meeting the French leader hosted in the capital, Nouméa, with rival pro-Paris leaders who want New Caledonia, which became French in 1853 under Emperor Napoleon III, to remain part of France.

Macron first called for a minute of silence for the six people killed in shootings during the violence, including two gendarmes. He then urged local leaders to use their clout to help restore order. He said a state of emergency imposed by Paris for at least 12 days on May 15 to boost police powers could only be lifted if local leaders call for a clearing away of barricades that demonstrators and people trying to protect their neighborhoods have erected in Nouméa and beyond.

“Everyone has a responsibility to really

call for the lifting of the barricades, the cessation of all forms of attack, not simply for calm,” he said.

Barricades made up of charred vehicles and other debris have turned some parts of Nouméa into no-go zones and made traveling around perilous, including for the sick requiring medical treatment and for families fretting about where to find food and water after shops were pillaged and torched. French authorities say more than 280 people have been arrested since violence first flared May 13 as the French legislature in Paris debated contested changes to New Caledonia voter lists.

The unrest continued to simmer as Macron jetted in, despite a 6 p.m. to 6 a.m. curfew and more than 1,000 reinforcements for the archipelago’s police and gendarmes, now 3,000 strong.

“I will be very clear here. These forces will remain as long as necessary. Even during the Olympic Games and Paralympics,” which open in Paris on July 26, Macron said.

It was late Tuesday in Paris when he left on the 16,000-kilometer (10,000-mile) trip but, because of the distance and time difference, it was Thursday morning in New Caledonia when he arrived with his interior and defense ministers. At Nouméa’s La Tontouta International Airport, which remains closed to commercial flights, Macron said on arrival that he wanted “to be alongside the people and see a return to peace, calm and security as soon as possible.”

Rush reported from Portland, Oregon. Leicester reported from Paris.

PRESIDENT Joe Biden and Kenya’s President William Ruto shake hands as they meet with business leaders in the East Room of the White House in Washington on Wednesday, May 22, 2024. AP/SUSAN WALSH

FRENCH President Emmanuel Macron shakes hands with a policeman upon his arrival at the central police station in Noumea, New Caledonia on Thursday, May 23, 2024. Macron has met with local officials in riot-hit New Caledonia, after crossing the globe in

Anti-poverty czar says SC ruling is ‘premature, exorbitant’

PRESIDENTIAL Adviser for Poverty Alleviation Lorenzo “Larry” Gadon said the ruling of the Supreme Court (SC), which found him guilty of misconduct and perjury, is “premature and tainted with vendetta.” In a statement issued last Thursday,

Gadon slammed the SC en banc which declared that he committed perjury and made accusations against then de facto Chief Justice Maria Lourdes Sereno based on hearsay. “Regarding the violation of verification in the impeachment complaint against Atty. Sereno, the allegations therein were

not fully ventilated and heard because the hearings ended abruptly as it was overtaken by supervening events particularly the removal of Sereno as Chief Justice,” he said. He noted the perjury ruling is premature since the case “against SC employees is still pending before the Ombudsman.”

The SC decision was based on the disbarment case filed by the Integrated Bar of the Philippines (IBP) against the impeachment complaint filed by Gadon against Sereno. It found Gadon guilty of gross misconduct punishable by disbarment. However, since Gadon was already

disbarred, SC instead fined him with P150,000.

Gadon decried the ruling, which he said “is exorbitant and has no basis in jurisprudence.” He also claimed the IBP complaint was “tainted with vendetta” since he successfully opposed the application of

the wife of the former IBP President as Justice of the Court of Tax Appeals. Gadon also accused Justice Marivic M.V.F Leonen, one of the SC en banc members, of harboring vendetta against him since filed an impeachment case against the Senior Associate Justice. Samuel P. Medenilla

Support services can unlock the promise of agrarian reform

THE latest news that the Marcos administration has already distributed over 15,000 hectares of land to 9,000 agrarian reform beneficiaries (ARBs) nationwide is a positive development. However, for agrarian reform to truly succeed in improving the lives of Filipino farmers, the government must follow through and provide the full package of support services mandated by law. (Read the BusinessMirror story: “DAR close to hitting target in 2024—PBBM,” May 21, 2024).

Ag rarian refor m has long been recognized as a crucial aspect of addressing inequality, pover ty, and social justice in rural communities. By distributing large land holdings to landless far mers and involv ing them in the policymak ing process, ag rarian refor m empowers indiv iduals and communities, fostering economic g rowth and political engagement. T he prog ram’s positive impacts are ev ident in cases where suppor t ser v ices have been effectively prov ided, leading to increased ag ricu ltural productiv ity and improved far mer incomes.

To ensure t he success of ag ra ri an refor m, it wou ld do well for t he gover nment to priorit i ze t he prov ision of suppor t ser v ices to ARBs. T he d ist ribut ion of land t itles alone is insu ff ic ient; it must be accompan ied by comprehensive assistance t h at add resses t he spec if ic needs of fa r mers. Suppor t ser v ices shou ld include access to c red it, t ra in ing and capac itybui ld ing prog rams, inf rast ruct ure development suc h as irrigat ion systems and fa r m-to-ma rket roads, and t he prov ision of appropri ate ag ric u lt ural tec hnolog ies and equipment.

President Marcos’ commitment to completing agrarian reform is commendable. The distribution of certificates of land ownership and the provision of farm machiner y and equipment to farmers in Central and Eastern Visayas are positive steps towards empowering ARBs. Additionally, the allocation of funds for the construction of farm-to-market roads and bridges demonstrates a comprehensive approach to addressing the challenges faced by farmers in transporting their goods to markets. These initiatives, when implemented effectively, can significantly improve the productivity and quality of life of our farmers.

Historically, however the government has struggled to fulfill its obligations to provide the necessar y support ser vices, hindering the progress of agrarian reform. Therefore, it is crucial for the Marcos administration to prioritize the implementation of support programs and ensure their efficient and transparent deliver y to ARBs across the countr y.

In light of the government’s track record, it is imperative for the private sector to actively engage in supporting agrarian reform efforts. The private sector can contribute by promoting economies of scale, introducing optimal technologies, and facilitating market access for farmers. By partnering with the government and leveraging its resources and expertise, the private sector can help fill the gaps in support ser vices and accelerate the progress of this endeavor to help our farmers.

Agrarian reform has the potential to bring about transformative change in the lives of landless farmers and contribute to the overall development of the Philippines. The recent efforts by the Marcos administration are encouraging, but sustained commitment and collaboration between the government and the private sector are essential to ensure the long-term success of agrarian reform in the countr y. Only through such concerted efforts can the Philippines achieve a more equitable and prosperous agricultural sector Expanding farmers’ access to land, water, and other resources is key to strengthening the countr y’s food security.

BusinessMirror

T. Anthony C. Cabangon

Lourdes M. Fernandez

Jennifer A. Ng Vittorio V. Vitug

Lorenzo M. Lomibao Jr., Gerard S. Ramos

Lyn B. Resurreccion, Dennis D. Estopace

Angel R. Calso

Ruben M. Cruz Jr.

Eduardo A. Davad

Nonilon G. Reyes

D. Edgard A. Cabangon

Benjamin V. Ramos

Aldwin Maralit Tolosa

Rolando M. Manangan

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

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Signing of the Tatak Pinoy IRR

RSonny M. Angara

BETTER DAYS

ECENTLY, Trade and Industry Secretary Alfredo Pascual led representatives from other government agencies in signing the approved implementing rules and regulations (IRR) of the Tatak Pinoy (Proudly Filipino) Law (RA 11981), which we principally authored and sponsored. We are grateful that the DTI acted swiftly in developing these rules, as the law was signed by President Bongbong Marcos just last February.

Crafted mainly by experts from USAID-RESPOND (Regulator y Reform Support Program for National Development), the guidelines were a product of several public consultations and focus group discussions. Their approval signals that the full implementation of the law can now begin in earnest.

Some of the milestones we hope to see in the coming months include the for mal call for nominations for the four private sector representatives in the Tatak Pinoy Counci l (TPC) to be appointed by the President; a roadshow by the Depar tment of Trade and Industr y (DTI) to promote and expla i n d irectly to stakeholders on the g round the ambitious goals of the law; and the

issuance by the TPC of a list of Philippine products and ser v ices that w ill immediately be g iven preference when it comes to gover nment procurement.

In her message during the signing ceremony, DTI Undersecretar y Fita Aldaba underscored that with the approval of the IRR, the TPC— chaired by the DTI w ith the National Economic and Development Authority (Neda) and the Department of Finance (DOF) sitting as vice-chair persons—is now enabled to issue whatever guidelines, circulars, and opinions necessar y for the implementation of the law; and engage resource persons from the private and public sectors to attend council meetings. The TPC can now

also establish working groups according to the key pillars cited in the law, namely Human Resources; Infrastructure; Technology and Innovation; Investments; and Sound Financial Management.

The milestone we are anticipating the most is the Tatak Pinoy Strategy (TPS), which is perhaps among the more important features of the law. Covering the same time frame as the prevailing Philippine Development Plan (PDP), the TPS shall outline the plan and action components for the countr y, and for the regions, provinces, cities, and municipalities, to systematically support domestic enter prises to produce and offer increasingly diverse, sophisticated, and globally competitive, products and ser vices. Usec. Aldaba summed up the essence of the TPS, when she said it would “ser ve as the countr y’s integrated industrial strategy, complementing and harmonizing all ongoing industrial initiatives” across the countr y.

For years, the DTI had already pursued various industrial initiatives and strategies—starting from the Comprehensive National Industrial Strategy (CNIS) from 2012 to 2016, which included the Manufacturing Resurgence Program (MRP); the Inclusive Innovation Industrial Strategy (I3s) from 2016 to 2021; and then currently, the STI-driven (Science, Technology and Innovation) Indus-

trial Policy in 2022, which evolved with the concept of “Mindfacturing,” emphasizing the importance of human creativity and intellect. W hile the DTI had consistently done its best with its various industrialization initiatives through the years, the work of actually transforming the ver y structure of our economy shou ld not be their responsibility alone. Such an endeavor requires no less than the collaboration and cooperation not only from other government agencies such as the DOF, Neda, the Department of Agriculture (DA), the Department of Information and Communications Technology (DICT), or the Department of Budget and Management (DBM), but also industr y champions in the Philippines, trade associations, small and medium enterprises (SMEs), entrepreneurs, and even the academe. Such synergy from all stakeholders appeared to be the missing element in our industrial strategies thus far

Hence, as I explained in my message during the signing ceremony, filling in this gap was among our chief motivations for sponsoring and pushing the Tatak Pinoy Law. W hat we needed was a durable (meaning institutionalized) platform wherein relevant government agencies and private sector stakeholders can come together and push for the countr y’s

See “Angara,” A

Climate change is affecting brain health, study finds

By Alicia Clanton

CONDITIONS like dementia, epilepsy and depression could spread and worsen in severity as the world heats up.

In a study released Wednesday, University College London researchers analyzed neuroscience literature to reveal how extreme heat and climate change-fueled disasters influence key neurological diseases and mental health disorders. They found that environmental factors not only affect the prevalence of disease but can also heighten the associated risk of hospital admission, disability and even death.

Climate change’s impact on health has been well studied, particularly when it comes to infectious and respirator y diseases. But it also takes a toll on neurological health, with the body’s temperature regulation process appearing to be a key driver in the uptick of conditions triggered by extreme heat.

“In order to work properly, the brain has to be maintained within a relat ively na rrow temperat ure range,” said Sanjay Sisodiya, a professor at the UCL Queen Square Institute of Neurology who led the research “If the brain has a disease, then the brain’s ability to thermoregulate is compromised. Take someone with a neurological disease and put them in an extraordinar y heat wave, you can see how that could well make their neurological disease worse.” More i nvest igat ion i s needed

into the exact mechanism linking neurological disorders with higher temperatures, Sisodiya added. As extreme weather worsens and becomes more common, it’s increasingly vital to untangle the exact relationship, particularly for the youngest, oldest and most vulnerable populations.

For the new study, the researchers reviewed 332 reports looking at environmental impacts on 19 neurological conditions with the highest disease burdens, including Alzheimer’s and other forms of dementia, migraine, stroke, multiple sclerosis and meningitis. They also gathered resea rc h on depression, anx iety and schizophrenia as psychiatric disorders have frequent comorbidity with  neurological diseases. The findings show weather impacts each disease in distinct ways, but most conditions are broadly associated

Climate change’s impact on health has been well studied, particularly when it comes to infectious and respiratory diseases. But it also takes a toll on neurological health, with the body’s temperature regulation process appearing to be a key driver in the uptick of conditions triggered by extreme heat.

with higher prevalence and worsened symptoms.

Among t h e ir f i nd i ngs a r e that people with Alzheimer’s and other dementias struggle to make adaptive choices in extreme heat such as seeking assistance, wearing lighter clothing and drinking more water Hotter weather is also likely to lead to more fatal or disabling strokes and can impact epilepsy, which is made worse by sleep deprivation. High nighttime temperatures are a hallmark of climate change and can impact sleep patterns. (The research also found that extreme cold can take a toll on health as well.) Incidence mental health disorders along with hospitalization and risk of death were associated most st rongly w it h increased ambient temperature. One report sur

in the new study showed that US

health insurance claims on mental health-related emergency room visits between 2010 and 2019 increased on days with extreme heat. Extreme weather events such as storms and wildfires can trigger acute cases of anxiety, post-traumatic stress, depression and suicidal ideation.

The brain’s response to a warming climate causes damage that can go undetected until far after medical inter vention would be effective, said Burcin Ikiz, a neuroscientist who studies the impact of environmental patterns on the brain. W hen heat rises, she said “our brains go into a stress response” that can translate into inflammation and other forms of degeneration that impact cognitive health

“W hat scares me most about this scenario is that by 2050, not only will we see an explosion of people with neurological disorders, but it will happen in our 40s and 50s instead of 70s and 80s because our brains are bombarded by different stresses like heat, pollution and microplastics,” added Ikiz, the founder and chair of the International Neuro Climate Working Group, an initiative to promote more research and advocacy around climate change’s threat to the brain.

Sisodiya and Ikiz called for more

China’s housing rescue too small to end crisis, analysts say

By Tom Hancock

CHINA’S latest housing initiative is aimed at vacant properties, a major pain point in a crisis that’s dragged on for almost three years. But analysts say the package of measures is still too small to end the rout.

The decline in China’s sales of new homes accelerated in recent months, with households increasingly preferring to buy in the secondar y market.

That’s pushed up the stock of unsold homes and empty land to the highest level in years, discouraging new construction and threatening more defaults by developers—including large state-owned firms.

T he suppor t package recently announced features a 300 billion yuan ($42 billion) facility from the People’s Bank of China that will fund bank loans for the state companies charged with buying up completedbut-unsold housing stock. Economists expressed concern both about the limited size of the measure relative to the stock of unsold housing, and the risk it won’t be fully implemented.

Officials said the central bank program can incentivize bank loans worth 500 billion yuan. That would only address a fraction of the value of vacant apartments in China, which economists estimate at multiple trillions of yuan.

“Any game-changing housing easing measures (including those for housing destocking) wou ld likely require significantly more funding than available thus far,” Goldman Sachs Group Inc. economists led by Lisheng Wang wrote in a note, citing earlier research that getting outstanding housing inventor y back to 2018 levels would require 7.7 trillion yuan.

A Bloomberg gauge of Chinese developers’ shares fell as much as 3.2 percent on Monday morning after booking its best week since late 2022 last week, as investors took profit and caution emerged about whether the measures were enough to tame the property crisis.

“Assuming the purchases were made at a 30 percent discount to market prices, this would allow the government to buy close to 2 percent of the new homes for sale or in the construction pipeline. An inter vention of this size is not big enough by itself to make a dent in housing supply, but could help lift confidence and stabi lize the market...Implementation will not be easy. Fiscal resources are limited and misaligned objectives between the central and local governments could also get in the way,” said Bloomberg economists Chang Shu, David Qu and Eric Zhu That stood in contrast to positive coverage in Chinese state media on Monday. The Securities Times reported Chinese developers’ sales centers in more than 10 cities including Beijing and Shanghai saw a surge of visits by homebuyers over the weekend.

President X i Jinping’s economy czar has backed t he high-prof i le program, which gives local governments the responsibi lity to tur n previously unsold apartments into affordable housing. The real estate sector has become the biggest drag on the world’s No. 2 economy, weighing heavily on sentiment and consumer spending.

Doubts still remain as to whether banks will make full use of the new fac i l ity. Commerc i al lenders’ i nvolvement will “limit the speed and

efficacy of fund deployment,” Ror y Green, chief China economist at TS Lombard.

A prev ious PBOC lending program for commercial banks aimed at rental housing projects saw a low level of take-up, with just 2 percent of the funds having been utilized. The new destocking initiative has already been trialed in eight cities, and worked best in areas with population inflows—a condition not met by all metropolises.

A program encouraging local governments to buy unused land from developers also faces challenges.

Many regions are fiscally strained, and officials at a briefing on Friday warned that such efforts shouldn’t increase local government debt risks.

Regional authorities will be allowed to use some of their annual 3.9 trillion yuan bond borrowing quota for the new initiative—but much of that has already been earmarked for infrastructure projects.

It’s unclear if local governments will be willing to pay “anything close to what the developer paid,” for land, said Adam Wolfe, emerging markets economist at Absolute Strategy Research “If developers have to recognize a loss on their land banks, then they might have to recognize some solvency problems, not just cash flow issues.”

To boost bank lending to developers to ensure they finish existing projects, officials are doubling down on a so-called “white list” effort that identif ies developments meriting support. That plan, introduced in Januar y, has seen approved lending reach more than 900 billion yuan, according to officials.

But the funds don’t seem to be reaching property companies, which raised less than 600 billion yuan in loans for construction projects in the first four months of the year, according to the countr y’s statistics bureau That’s down 9 percent on a year earlier

The white-list program is limited by the incentives of commercial banks, which worr y about developer defau lts impact ing t heir bottom line. The same issue applies to new measures that allow banks to lower mortgage rates and down-payment requirements.

Lenders h ave al ready lowered mor tgage rates to historic lows, and cou ld be reluctant to make f ur t her c uts. On Monday, C hinese banks left t heir benc hma rk lending rates u nc h anged follow ing t he cent ral bank’s dec ision last week to hold a key rate on loans it offers to lenders.

“The impact of this policy will be bounded by banks’ squeezed interest rate margins,” said Serena Zhou, senior China economist at Mizuho Securities Asia Ltd. Households might also use lower rates to buy existing properties rather than newly built ones, as those prices have fallen further and deliver y isn’t a concern. China’s existinghome sales overtook new homes by area for the first time on record last year, underscoring a fundamental shift in buying habits that means less cash for developers. With assistance from Fran Wang and Jing Jin /Bloomberg

Dreaming of pearls

industrial i zat ion in a systemat ic and strategic manner And this is precisely the pur pose or function we hope the Tatak Pinoy Law, particularly through the TPS, will ser ve in the years to come. We gladly took note that DTI Secretar y Pascual said in his speech that the law rightly highlights the need

for a “whole-of-nation” approach

We were even more heartened when NEDA Secretar y Arsie Balisacan emphasized that there were “quite a lot of complementarity and overlap in the objectives” of the current PDP and the Tatak Pinoy Law, and that he saw such mutual support continuing even with future PDPs and versions of the TPS. Later on, DBM Principal Economist and Usec. Joselito R. Basilio said that the law’s implementation

IANNOTATIONS

En el fondo del mar (At the bottom of the sea)

Una linda perla (There is a beautiful pearl)

Que yo quiero alcanzar (That i want to reach)

Pero no me dejara (But it wont let me) —As sung by the Trio Los

T was a lovely dream: my mother was holding a ring and, as if in slow motion, raised it high above her for us to see. The ring had the whitest of pearls in the middle and around them were studded tiny diamond stones. The design was exquisite, enough to make any woman happy. To her left, I could see a hand and it was bearing red roses bunched in a bouquet.

W hen I woke up, I remember looking for any piece of paper on which I could note the details of the dream.

For several nights now, I have been dreaming of people and events, but upon waking up, I could not recall the specific points of the dream. You know how it happens: you are tr ying to remember ever ything and you close your eyes, you close them so tight as if the force with which you have shut down your vision would keep all the elements in the stor y of the dreams within your eyes, and deep intact in your mind. You are in that state of thinking where you can feel the ner ves of your eyes connected to some wires in your brains. You could see the connection of the tiny veins and vessels in your head as they proceed from the front of your thoughts, which are in your eyes, and back, slipping into the recesses behind what allowed you to see in a dream, and further into the seat of thoughts—all those fragile, sensitive parts that make us think, remember, and process what we can bring back from a dream

The narrative, if you may allow me to use this notion for a dream, however slips through any capac-

ity to see what has convinced you already that you dreamt, and that in the dream—or dreams—a stor y was being told. On that specific moment of being awake and aware and with that particular dream, I could clearly see what was being presented to me. There were no dialogues, no conversations, not even a voice-over to annotate in a dramatic way, for there was drama in that vignette, the occurrence. In the absence of words or letters, was there silence? Oddly enough, the dream was not a quiet one; ever ything in that presentation had a sound, and it was the sound of joy, of exuberance. A celebrator y air was palpable as I looked at Mama beholding the tiny present before her W hat is a dream without an absurd point to it? In this dream, there was and it came via the source of the gift, the ring. Apparently, the weaver of dreams has planted in my mind this idea that the ring came through a loaf of bread! This comic and charming twist was courtesy of our father W here was Papa in the dream? If there was a person who could make Mama happy, it was him. The Dreamer was indeed kind to me, for

the more I think of the dream, the more other little dramas in it were unfolding before the eyes of my mind. Or, maybe “blooming” is the better word: as the processes of the gift, and the reception, and the exultation began to take place, a rich trove of information was being delivered to me through the arc of the report being beamed via petals opening and closing in a hysteria of happiness.

I was happy within the dream, the grin plastered on my mouth extending so long as if to promise me that not all dreams are ephemeral.

Now what about the hand proffering the bouquet of roses? It was another beloved figure in the family, our Ate Naomi, who passed on amidst the pandemic not of the virus but of the more dreaded cancer disease.

All the characters in the dream are gone, dead but dreaming has made them live again. Our family is big on dreams—not the act of foreseeing action for the future—that, to paraphrase John Updike, Nature has allowed us to have because dreams do come true.

They are alive in our dreams, and, because in most of our dreams, there

are no words and no text sometimes, the ellipses enable us to supply the emotions. The emptiness that we felt the first time we realized they had left us is now abstracted into colors and senses, most of the time other worldly, sending us messages of love and comfort that would not have arrived at our doorstep had we remained boringly stuck in wakefulness.

W hat to do in this act of dreaming? Would it help if you fill in the blanks of the dreams, to recover with your imagination, which according to Einstein, will get us ever ywhere?

In that dream, I am excited to report how our Ate Naomi remains busy tending to her garden, with those roses eternally incarnadine. I am ready to assure my siblings also that Papa who was first to go has not lost his touch: he still thinks of the most precious offering for his Lelay, a ring with the pearls that came from the deepest part of the sea, a rare, beautiful disturbance of Nature no living hand could touch, except in a dream.

E-mail: titovaliente@yahoo.com

A comprehensive global health network must include

MAIL

THE 77th session of the World Health Assembly (WHA) is scheduled to commence in Geneva, Switzerland from May 27 to June 1, 2024. Over the past few decades, Taiwan has improved its health care and public health system in line with World Health Organization (WHO) recommendations. These efforts included enhancing primar y and oral health care as well as combating communicable and noncommunicable diseases. However, Taiwan has been excluded from the WHA since 2017 due to political pressure from China.

Despite making significant contributions to the world during Covid-19, Taiwan was prevented from drafting and negotiating the WHO Pandemic Agreement and does not have ready access to pandemic-related resources and materials, namely the WHO Pathogen Access and Ben-

will most probably be enrolled under the department’s program convergence budgeting—where agencies i nvolved d i sc u ss and coord i nate ever ything that concerns a specific budget item. He added that since the law provides for the establishment of a Tatak Pinoy secretariat, it will be easier to coordinate, harmonize, and streamline the different programs and projects that the different agencies have that are aligned with Tatak Pinoy objectives.

efit-Sharing System (PABS), and the Global Pandemic Supply Chain and Logistics Network. To date, WHO has refused to display the contact point information of the Taiwan Centers for Diseases Control on the International Health Regulations (IHR) intranet. As a result, IHR contact points in other countries cannot directly report pandemic information to Taiwan, nor can they receive the important pandemic information Taiwan provides to WHO. This adversely affects pandemic prevention efforts. Nonetheless, Taiwan seeks robust engagement with the global health security network and collaboration with WHO to strengthen the resilience of the global health system. Both its public and private sectors are committed to sharing the experience and expertise with partner countries, and its closest neighbor, the Philippines, is among the beneficiaries. For example, Tzu Chi whose headquarters is in Hualien, Taiwan, has provided free clinical ser vices in the Philippines since 1995, with its Eye Center at the Santa Mesa district of Manila running as of 2007. The Eye Center has catered to more than 130,000 outpatients and performed more than 15,000 surgeries for the past 17 years. Tzu Chi even has plans to build a new hospital, so that it can treat more patients at a

Indeed, there is much to anticipate given that the rules and regulations for implementing the Tatak Pinoy Law have now been issued. Senator Sonny Angara has been in public service for 20 years—9 years as Representative of the Lone District of Aurora, and 11 as Senator. He has authored, co-authored, and sponsored more than 330 laws.

permanent location.

Last October t he Ta iwan Root Med i cal Peace Co r ps (TRM P C) team, cons i st i ng of phys i c i ans, surgeons, dent ists, nurses, pharmac ists, lab exper ts, and volu nteers, prov ided its 3rd f ree med ical ser v ices to Phi l ippine pat ients in Pagad ian City, Zamboanga Del Sur T he Noord hoof Craniofacial Foundation (NCF), in collaboration with Taiwan’s Chang Gung Memorial Hospital, partnered w ith the Craniofacial Foundation Philippine (NCFPI) and the United Davao Specialists Hospital and Center Inc. to form a “Medical Mission Team with Love” in November The team has prov ided free reconstructive surgeries for 329 Filipino craniofacial patients since 1999.

T his year, the Taiwan Cardiac Children’s Foundation, sponsored by the Rotar y Club, traveled to the Philippines to train local physicians in performing transcatheter pulmonar y valve replacement surgeries in May. The team will come again to Manila in June to perform actual surgeries at the Philippine Heart Center (PHC) to improve the local medical standards and provide better care for children with heart disease. Taiwan remains firmly committed to its professional and pragmatic approach and to playing an active role in global health initiatives. A world

Taiwan

without Taiwan is unthinkable, inequitable and unjust. We are appreciative of the support from our international friends. Secretar y of State Anthony Blinken said the United States was strongly encouraging the WHO to reinstate an invitation to Taiwan to participate as an obser ver in the WHA. And during recent hearings held by the US Senate and House of Representatives committees on foreign affairs, US Assistant Secretar y of State for East Asian and Pacific Affairs Daniel Kritenbrink explicitly endorsed Taiwan’s participation in the WHA as an obser ver The inclusion of Taiwan in WHO and the WHA transcends political considerat ions— it i s a pract ical necessity. WHO should uphold professionalism and neutrality, reject pol it ical inter ference, and inv ite Taiwan to participate in the WHA as an obser ver In the meantime, I call on the Philippine government, its Congress, and its people to support Taiwan’s institutionalized participation in WHO meetings and mechanisms. Let the bayanihan spirit shine and include Taiwan in the WHO to achieve “Health for all.”

Amb. Wallace Minn-Gan Chow Representative Taipei Economic and Cultural Office in the Philippines

Tito Genova Valiente

By Andrea E. San Juan @andreasanjuan

THE International Food Exhibition (IFEX) Philippines, the country’s major international food trade show, generated initial export sales of $165 million from this year’s edition, surpassing the $163.29-million total sales generated in 2023, according to the Center for International Trade Expositions and Missions (CITEM), the Department of Trade and Industry’s (DTI) export promotions arm.

The food trade show, which opened on May 10 and gathered a crowd of nearly 10,000 for the combined three-day event at the World Trade Center Metro Manila in Pasay, City, surpassed expectations with “initial and unofficial” total export sales of $165 million.

The DTI’s export promotions arm highlighted its food promotion efforts for this year, saying this year’s edition “espouses the unifying concept of a traditional Filipino celebration of salu-salo or feast, which reflects the community of food [micro, small and medium enterprises] MSMEs,

manufacturers, producers, distributors, and consumers in the export value chain.”

The food expo gathered CITEM along with over 500 exhibitors and partners from across the country, including diplomatic corps, government agencies, international and local trade buyers and partners, retail customers, and media outlets.

Members of the diplomatic community from Asia and neighboring regions also came to show their support, said CITEM.

The export promotions arm of DTI said that among the major groups that are benefiting and

“crucial” to the success of the food trade industry are the country’s micro, small and medium enterprises (MSMEs).

‘Premium 7’

FOR its part, the Department of Agriculture (DA) featured exhibitors offering the “Premium 7” which it said is part of the continuous promotion of the country’s top crops.

“These raw food supplies are highly in demand for their various possibilities beyond food production. The Premium 7 are composed of the following: banana, cacao, coconut, coffee, mango, pineapple, and tuna,” CITEM said.

For her part, CITEM Officer-inCharge and Deputy Executive Ma. Lourdes Mediran underscored the importance of the food trade show, noting that the Philippines has a “rich tapestry of flavors that remain unknown to certain parts of the world.”

Mediran also pointed out that “the power of food to bring a sense of community and belonging is the perfect vehicle to show the world the excellent food offerings, innovative craft, and export capabilities of the Philippines.”

Through the lens of a lawmaker, Senator Mark Villar, who was chairing the Senate Committee on Trade, Commerce, and Entrepreneurship; and Committee on Banks, Financial Institutions, and Currencies when

the IFEX was running, echoed the importance of effective partnerships.

Villar highlighted the role of the country’s major international food trade show, saying “It is a platform where visions are turned into reality and opportunities are seized.”

CITEM also noted that the lawmaker had committed to “further championing” the food industry, assuring CITEM of “having a staunch ally in the Senate.”

Speaking for the DTI, Undersecretary Ana Carolina Sanchez raised the importance of “delivering comprehensive mechanisms to allow for inclusive growth opportunities and sustainable development.”

Sanchez cited DTI’s privatepublic partnership with the Department of Agriculture (DA) and Clark International Airport Corporation for the three-year food logistics action agenda, as it focuses on establishing “secure” food distribution routes and access points resulting in affordable and reliable food sources across the country.

As DTI’s export promotions arm, CITEM is “committed to developing, nurturing and promoting micro, small, and medium enterprises [MSMEs], brands, designers, and manufacturers by implementing an integrated approach to export marketing in partnership with other government and private entities.”

THERE ‘GHOST EMPLOYEES’ AT THE BSP? PROBE UNDERWAY

By Cai U. Ordinario @caiordinario

THE Bangko Sentral ng Pilipinas (BSP) has already begun the process of exorcising its own bureaucracy of what are known as ghost employees.

A source at the BSP, who requested anonymity, told reporters that four "ghost employees" are currently under investigation. These employees are currently under the offices of two Monetary Board Members.

If these employees are found to indeed be ghost employees, the BSP will ask the employees to resign and return all the salaries they received over the years they were employed at the central bank.

“So now, the process is investigating the ghost employees themselves. Giving them a chance to explain. That will continue for some time. Maybe a few weeks. So that’s where the effort is focused,” the source said.

However, when it comes to the erring Monetary Board Members, the source admitted that BSP itself has no authority over them. It is a matter that is up to the Office of the President to decide since the President is the appointing authority.

The source also said it is because of this that the BSP could not ask the Monetary Board Members to recuse themselves from their duties while the investigation is ongoing.

The source admitted that this

issue has made a significant impact on the BSP and he could also not share more information on what happens after the investigation simply because it was unprecedented.

The source expressed concern that it will cast a shadow on the credibility of the central bank.

“Absolutely. Credibility is very important for monetary policy,” the source said.

Nonetheless, the source said the BSP acted swiftly on the matter. When the whistleblower came forward to raise the concern regarding the ghost employees, the central bank started verifying the claims.

The source noted that not all complaints at the BSP lead to a full-blown investigation such as what is happening now. He said they had to not only verify complaints but gather other evidence on the complaint.

“We don’t act on just the word of a whistleblower. A, the complaint has to be credible, and B, there has to be evidence. There was a verification of the evidence, and then there was good reason to believe that the reports were true. And then that's when the investigation, the formal investigation, started," the source said.

After news broke about what are known as “ghost employees,” the source said the BSP verified the complaint and gathered evidence. By April, BSP started the formal investigation process.

By Reine Juvierre Alberto @reine_alberto

HIGH commodity prices are making it difficult for Filipinos to save, according to the Queen of the Netherlands.

Her Majesty Queen Máxima of the Netherlands said at a press briefing on Thursday that a stable macroeconomic environment is needed in order for financial inclusion and financial health to thrive in the Philippines.

The Queen defined financial health as the state of one’s ability to manage day-to-day expenses, to have a long-term financial vision, to cope with financial shocks, and to balance all these in the short term.

“You have very high inflation. Saving in your own currency would not be very sustainable,” said the Queen, who is also the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA).

The Queen underscored that the Bangko Sentral ng Pilipinas (BSP) and the Monetary Board have to stabilize the macroeconomic situation, such as global inflation, higher monetary policy, and higher borrowing costs, for more Filipinos to have access to financial services.

Headline inflation accelerated to 3.8 percent in April for the third consecutive month due to a “surge” in food inflation, which rose to 6.3 percent from the previous month’s 5.7 percent. (See: https://businessmirror. com.ph/2024/05/08/inflation-quickens-to3-8-on-costly-food/).

Meanwhile, the Monetary Board maintained the BSP’s Target Reverse Repurchase (RRP) rate at 6.5 percent. This is the fifth consecutive meeting that the Monetary Board decided to maintain the RRP. (See: https://businessmirror.com.ph/2024/05/17/bsp-keeps-ratesbut-eyes-2-cuts-in-2nd-half/).

“Definitely, there [are] incentives and business incentives to save, to

borrow, but I would say that in general, we still need a stable economic environment,” Queen Máxima said.

BSP Governor Eli M. Remolona said that the concept of open finance will provide various financial solutions to foster financial inclusion.

“What we’re trying to do now is encourage open finance by designing our own platforms, our own APIs (artificial programming interface), and they will all be about financial health. So we’re starting with Pera for example,” Remolona said. Pera, or the Personal Equity and Retirement Account, is a voluntary retirement saving program that supplements the existing retirement benefits from the Social Security System (SSS), Government Service Insurance System (GSIS) and employers.

Remolona said that the BSP tapped the banks in the country to connect their pension schemes to Pera through the creation of an API.

“They will connect to Pera so that account holders in the bank can get their pensions through Pera,” Remolona added.

Remolona underscored the importance of pensions as Filipinos don't save enough. “Our pensions are our children. We expect them to take care of us in our old age,” he added. The BSP is also looking into APIs for insurance, such as life insurance, property insurance, and accident insurance.

“I think when we have the open finance for insurance, that will bring prices down. We have work to do, so it’s not easy to do it. We got a lot of advice and access to expertise all over the world, and so I think we can do it,” he said.

The Queen conducted field visits in Manila and surrounding provinces and engaged in high-level meetings with the President, Finance Secretary Ralph G. Recto and BSP Governor Remolona during her visit to the Philippines from May 21 to 23, 2024.

PBy Samuel P. Medenilla @sam_medenilla

RESIDENT Ferdinand R.

Marcos, Jr. is open to accept-

ing the technical aid offered by Queen Máxima of the Netherlands, which is expected to help boost local financial inclusivity.

In her courtesy call with Marcos in Malacañang on Wednesday, the Dutch royal offered “to help connect the Philippines to her development partners to share best practices.”

Queen Máxima is also the United Nations Secretary-General’s

Special Advocate for Inclusive Finance for Development (UNSGSA).

The President welcomed the offer, which is expected to benefit farmers and micro, small, and medium enterprises (MSME).

“Well, that’s a very, very handsome offer. Thank you very much, Your Majesty,” Marcos said during the courtesy call.

The assistance will include financial inclusion foundational building blocks, such as connectivity, cybersecurity, digitization, and interoperable payments.

The Presidential Communications Office (PCO) said the inter-

vention will “help Filipinos improve their financial health and build resilience to economic and climate shocks.”

Queen Maxima was in a technical visit in the country from May 21 to 23, 2024. It is her second time to travel to the Philippines. The first was in 2015 when she attended the launch of the Philippines’ National Strategy for Financial Inclusion (NFSI).

Aside from Queen Maxima, Marcos received in Malacañang eight new non-resident ambassadorsdesignate from different states.

Among those who presented their credentials were Ibrahim Bileh Doualeh, non-resident ambassador-designate of the Republic of Djibouti; Jagdishwar Goburdhun, G.O.S.K., Republic of Mauritius; Farhod Arziev, Republic of Uzbekistan; Hassan Abdelsalam Omer, Republic of Sudan; Major General Gotsileene Morake, non-resident ambassador-designate of the Republic of Botswana; Mait Martinson, Republic of Estonia; Morecome Mumba; Republic of Zambia; and Abdelhafid Bounour, People’s Democratic Republic of Algeria.

May 24, 2024

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

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NO.ESTABLISHMENT

1 AIRVENT MECHANICAL SYSTEM INC.

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite

2 AIRVENT MECHANICAL SYSTEM INC.

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

CHEN, HANG

Mandarin Speaking Customer Service Representative

Brief Job Description:

Attract potential customers by answering product and service questions; suggesting information about other products and services

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite FAN, TAO

Mandarin Speaking Customer Service Representative

Brief Job Description:

Attract potential customers by answering product and service questions; suggesting information about other products and services

LIANMING, JI

3 AIRVENT MECHANICAL SYSTEM INC.

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite

4 AIRVENT MECHANICAL SYSTEM INC.

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite

5 AIRVENT MECHANICAL SYSTEM INC.

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite

6 AIRVENT MECHANICAL SYSTEM INC.

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite

7 AIRVENT MECHANICAL SYSTEM INC.

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite

8 AIRVENT MECHANICAL SYSTEM INC.

3F B2D, L5-9, Grand Centennial Homes, Magdalo, Kawit, Cavite

Mandarin Speaking Customer Service Representative

Brief Job Description:

Attract potential customers by answering product and service questions; suggesting information about other products and services

WU, YINGDI

Mandarin Speaking Customer Service Representative

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

WU, ZHIHUA

Mandarin Speaking Customer Service Representative

Brief Job Description:

Attract potential customers by answering product and service questions; suggesting information about other products and services

ZENG, JIE

Mandarin Speaking Customer Service Representative

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

ZHONG, CHUNFA

Mandarin Speaking Customer Service Representative

Brief Job Description:

Attract potential customers by answering product and service questions; suggesting information about other products and services

ZHONG, XIANGSHENG

Mandarin Speaking Customer Service Representative

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

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills

Salary Range:

Php 30,000 - Php 59,999

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills

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

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills, knowledgeable in computer applications

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

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills, knowledgeable in computer applications

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

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills

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

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills, knowledgeable in computer applications

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

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills, knowledgeable in computer applications

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

Must be 18-55 years old with at least 6 months experience and must have a good oral and written communications skills, knowledgeable in computer applications

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

9 AN LI JIA TECHNOLOGY PHL CORP.

Lot 14, RBF W2-B, First Philippine Industrial Park 2, Santa Anastacia, City of Sto. Tomas, Batangas

10 BIONOVA PRECISION BREEDING INC.

501, National Road, Suba, Majayjay, Laguna

11 DYSON ELECTRONICS PTE. LTD.-PHILIPPINE BRANCH

Lot C3-13, Carmelray Industrial Park II, Km 54 National Highway, Punta, City of Calamba, Laguna

12 FIRST PHILIPPINE INDUSTRIAL PARK, INC. Administration Bldg., First Philippine Industrial Park, 1st Street, Santa Anastacia, City of Sto. Tomas, Batangas

WANG, ZHIXIANG

Tooling Specialist

Brief Job Description: Design, repair, and perform maintenance on the tools needed for and machines

SERRANO ESTRADA, ALFONSO

Brief Job Description:

Train, lead and mentor a talented team of professionals, providing strategic direction, guidance, and support to ensure the successful implementation of technology initiatives

ZAMBELLI, FELIX AMADAEUS

Design And Development Associate

Brief Job Description:

Lead a group of multi-discipline engineers from different geographical sites working across different technical problems and solutions

KURYU, YUTARO

Senior Vice President - Industrial Business Group

Brief Job Description:

Oversee the activities and accomplishments of SMD which include land and lease sales to Japanese locators

MIZUKAWA, SEISUKE

13 FURUKAWA AUTOMOTIVE SYSTEMS LIMA PHILIPPINES, INC.

Lot 3, Blk. 2, Ph. 2A, JP Rizal Ave., Lima Technology Center, Bugtong na Pulo, City of Lipa, Batangas

14 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

15 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

16 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

17 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

18 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

With experience in plastic injection company, willing to work FPIP santo Tomas, Batangas, knowledge in computer application

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

Must have a college degree relative to the job

Salary

Must have a degree in a relevant Engineering or Science discipline or equivalent

Salary Range: Php 150,000 -

At least 5 years’ experience in handling production department, must have N2 Japanese

Brief Job Description: Lead and oversee the operation of production department

LIU, YUEYANG

Chinese Customer Service Representative

Range: Php 90,000 - Php 149,999

Brief Job Description: Manage incoming calls and customer service inquiries Able to speak, read and write Chinese language

Range: Php 30,000 - Php 59,999

AUNG AUNG

Myanmari Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries Able to speak, read and write Chinese and Myanmari language Salary Range: Php 30,000 - Php 59,999

AUNG THAN SOE

Myanmari Customer Service Representative

Brief

KYAW KYAW WIN

Myanmari Customer Service Representative

Brief Job

KYAW WAI

Myanmari Customer Service Representative

Brief Job Description:

Able to speak, read and write Chinese and Myanmari language

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

20 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

22

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Brief Job Description: Manage incoming calls and customer service inquiries

MAUNG MAUNG

Block 3, Cavite Economic Zone II, Bacao II, City of General Trias, Cavite

24 JAE PHILIPPINES, INC.

JPI Bldg., Linares Extension, Gateway Business Park, Javalera, City of General Trias, Cavite

KOTANI, KUMIHIRO

Adviser - Electrical Engineering

Brief Job Description:

Managing & directing the technical quality within the industrial & electrical design & aspects of the machines and house construction

KODAKA, AKIRA

Assistant General Manager for Finish Goods Production

Brief Job Description:

Responsible for developing, overseeing, & providing direction to Engineering programs of Finished Goods (Assembly) Production Department

25 KBD PULP MOULD PACKAGING EQUIPMENT AND PRODUCTS PHILIPPINES INC.

Bay G & H Springhill, Gen. Malvar St., Lima Technology Center, Santiago, Malvar, Batangas

26 LEADER ELECTRONICS (PHILIPPINE BRANCH) INCORPORATED

Phase 2, Block 7, Cavite Economic Zone, Tejeros Convention, Rosario, Cavite

27 LITTLE V MOBILE TECH INC.

Unit-lower Basement, Andenson Building 3, National Road, Parian, City of Calamba, Laguna

Able to speak, read and write Chinese and Myanmari language

Able

Salary

College graduate in managerial and must have supervisory skills

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

At least 10 years management-level position experience in related manufacturing industry and with wide technical knowledge of products and processes used in the manufacture of electronic connectors and harness

Salary Range:

Php 500,000 and above

DU, MENGFAN

Accounting Manager

Brief Job Description: Manage and oversee the daily operations of accounting department

College graduate, have experience in all accounting process, can manage and oversee daily operation of accounting department, can establish and enforce proper accounting methods, policies and principles

Salary Range:

Php 30,000 - Php 59,999

HSIAO, SUNG-CHIEH QA Manager

Brief Job Description:

Primarily responsible for developing and qualifying environmental, functional and reliability test programs to continually monitor and improve products, Establishes and maintains annual plans and systems for measuring necessary aspects of organizational performance, monitors, measures and reports on organizational development plans and achievements

LI, SHUAI

Chinese Business Consultant

Brief Job Description: Help business to improve their performance, solve problems and achieve their goals.

Marcos Highway, Sitio Puting Bato, Inarawan, City

Covelandia

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Must be graduate of Industrial Engineering or related course, preferably knowledgeable in quality management system, requires managerial and leadership skills

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

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite EIE KAT Myanmari - Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

47 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite HTAY HTAY WIN Myanmari - Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

48 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

49 MERIT LEGEND SOLUTIONS INC.

SAI AIKE AYE Myanmari - Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite CHAIN KYAE Myanmari Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Able to speak, read and write Chinese and Myanmari language

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

Able to speak, read and write Chinese and Myanmari language

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

Able to speak, read and write Chinese and Myanmari language

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

Able to speak, read and write Chinese and Myanmari language

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

50 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia

PHAM,

Brief

Covelandia

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

58 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

59 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

60 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

61 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

62 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

63 MERIT LEGEND SOLUTIONS INC.

HAU, THI THUY

Vietnamese Customer Service Representative

Brief Job Description:

incoming calls and customer service inquiries

HOANG THI HAO

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HOANG, THI PHUONG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HUA, THI LOI

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite LANG XUAN NGHIA

64 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

65 MERIT LEGEND SOLUTIONS INC.

LE NGOC HUNG

Vietnamese

Brief

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite LE NGOC LOC Vietnamese

30,000 - Php 59,999

to speak, read and write Chinese and Vietnamese language

Range:

30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

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

to speak, read and write Chinese and Vietnamese language Salary Range:

66 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

67 MERIT LEGEND SOLUTIONS INC.

LE, SY LUC

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite LINH, THI HUONG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

68 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite LU, THI SU

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

69 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite LY, THI NANG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

70 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite LY, THI SIM

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN DUC PHU

71 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

72 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

73 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

74 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

75 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

76 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

77 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

78 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN THI THANH NGA

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN XUAN THANH

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN, THANH TUNG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

PHAM THI THUY

Vietnamese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

PHAN THI THU

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

THAI KIEN THANH

Vietnamese Customer Service Representative

Brief

TRAN, THI MINH TAM

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

79 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

80 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

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

TRUONG THI ANH DAO

Vietnamese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

HO TRONG HOANG

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

ZHANG, XIAOLI

81 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

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

82 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able

Salary

Able to speak, read and write Chinese and Vietnamese language

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

Computer literate and Secondary Education and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

VI, THI NHU HONG

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

CHEN, HANTAO

83 NIPPON PREMIUM BAKERY INC.

Lot 10, Block 2, First Philippine Industrial Park II, San Rafael, City of Sto. Tomas, Batangas

84 PANASONIC MANUFACTURING PHILIPPINES CORPORATION

San Isidro, Taytay, Rizal/ Laguna Technopark, Don Jose, City of Santa Rosa, Laguna

85 ROHAS PHILIPPINES INC.

Brief Job Description:

Ensure to maintain a result-based, system and organizational structure

YONEMURA, KAZUYA

Center Head of Supply Chain Solution Center

Brief Job Description:

Computer literate and Secondary Education and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

Computer literate and Secondary Education and must be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

Must possess excellent skills and have experience relative to his position

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

Salary

Able to speak, read and write Chinese and Vietnamese language

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

86 SHIMANO (PHILIPPINES) INC.

Lot 21A, Phase 1B, First Philippine Industrial Park, Ulango, City of Tanauan, Batangas

Formulate strategies for the reduction of cost of the company’s logistics and distribution system based on an indepth analysis of data on logistics cost and competitor’s distribution system Must have an excellence command

must have at least 10 years work experience as Manager of global logistics operations for an appliance company

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

General Manager

Sitio Coral na Bato, Pulong Santa Cruz, City of Santa Rosa, Laguna KIM, HYUNWOO

Brief Job Description:

Formulate overall strategy, managing people and establishing policies

LAI YEW WENG

Assistant Senior Manager - Human Resources & Finance

Brief Job Description:

Estimate, negotiate and agree in budgets and timescales with clients and managers

Must be excellent in leadership, planning and controlling resources

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

Must have experience in manufacturing for at least 5 years

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

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign Building II, Parian, Calamba City, Laguna, within 30 days after this publication. foreign nationals.

To avail of free job referral, placement, and employment guidance services, at http://www.philjobnet.gov.ph

6.

18.

19.

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

Editor: Jennifer A. Ng

Vista Land income rises on strong demand for projects

By VG Cabuag @villygc

VILLARLED

property developer Vista Land and Lifescapes Inc. said its income in the first quarter rose 11 percent to P3 billion from the previous year’s P2.74 billion on higher sales.

The company said it has launched

a total of P10.1 billion worth of projects across the countr y. Consolidated revenues for the period reached P9.73 billion, up by 11 percent from the previous year’s P8.76 billion.

“We look for ward to 2024 as we will continue with our asset maximization and optimization strategy via our Vista Estates which now stand at 26 across the countr y. We remain optimistic with the industr y as we continued with our project launches which in turn delivered a 12-percent growth in our reser vation sales to P20.8 billion for the quarter,” Vista Land Chair man Manuel B. Villar Jr said.

“In addition to our existing strategy, we will also aim to solidify our foothold in the horizontal residential market with launches in several areas, specifically in the provinces. Having the widest geographic pres-

ence has been one of our strengths and now we have also expanded our offerings to include both horizontal and vertical residential products across the Philippines.”

Real estate revenue reg istered at P5 billion, while rental income amounted to P4.1 billion for the period. Vista Land said it has improved its gross margin by 230 basis points to 61 percent. Manuel Paolo A. Villar, the company’s president and CEO, said the company will continue to maximize its leasable space which is currently at 1.6 million square meters of gross floor area or over 100 investment properties consisting of 42 malls, 56 commercial buildings and 7 office buildings.

The company, he said, has allotted a capital expenditure budget of P30 billion for the year, of which 98 percent will be for residential units construction and land development.

“Land acquisition as well as investment properties construction w ill account for the remaining 2 percent of the budget.”

A total of P7 billion was already spent for capital expenditure in the first quarter, he said.

“Moving for ward, Vista Land’s strategic focus will be prioritizing mixed-use developments that seamlessly blend residential and commercial components, ensuring that both current and f uture projects create and support comprehensive and vibrant communities,” the company said.

AllDay performance

ALLDAY Marts Inc., which operates AllDay Supermarket, said its income grew 9 percent despite flat sales in the first quarter

Revenues for the year reached P2.46 billion, flat from the previous year’s P2.44 billion.

Company president and CEO Frances Rosalie T. Coloma said AllDay had to grapple w ith a “challeng i ng qu a r te r pu nct u ated by decreased household spending and elevated prices. She said the company leveraged its inter nat ional selections, and its recent opening of four new minimart locations.

“AllDay’s stable position through the first quarter can be credited to continuing gains from our importation and, in part, through our new minimarts. We established a foot-

ACEN hikes YMP Telecom credit facility

ABy Lenie Lectura

@llectura

CEN Co r p., t hr o u g h i ts subsid i a r y, w i ll lend P466

m i ll ion to YMP Telecom Power Inc. to f u nd t he latter’s energy eff ic iency and renewable energy (RE) projects.

“At t he request of YMP Telecom Power Inc., ACEN signed today (May 22, 2024), a request letter ag reeing to amend t he ter ms of t he Ag reement to inc rease t he total fac i l ity amou nt f rom P200,000,000.00 to P466,000,000.00,” ACEN sa id in a d isclosure to t he stock exc h ange on T hursday. Prior to t he ag reement, ACEN comm itted to prov ide up to P200

m i ll ion to YMP Telecom, a subsid i a r y of Belenos Energy Cor p., a wholly owned unit of ACEN, to f und t he development costs of cer ta in energy eff ic iency and renewable energy projects. ACEN, t hr o u g h Belenos, took ove r i n Decembe r 202 3 two f ir ms u nde r Yoma M i c r o P owe r P te. Ltd.

It acquired YMP Telecom and its aff i l i ate YMP Indust ri al Power Inc. by purc h asing 100 percent of t he outstand i ng sh a red held by Yoma. T he sh a res were bought at less t h an 10 percent of t he book value of ACEN, t he power f ir m of conglomerate Ayala Cor p. sa id last yea r YM P i s a lead i ng So u t h east

As i a-foc u sed d i st ri b uted renewable ene r gy company sp urri ng telecom ope r ator s, towe r compan ies, comme rc i al and i ndu st ri al compan ies and homeowners along t he ene r gy t r ans it ion pat h to deca r bon i ze and bui ld a s u sta i nable f ut ure for all. ACEN, meanwhi le, h as al ready sur passed its goal of reac hing 5 g igawatts (GW) of RE capac ity by 2025, almost two yea rs a head of sc hedu le. Of t his capac ity, 65 percent is now f u lly operat ional. “Hav ing passed t he 5 GW goal almost two yea rs a head of sc hedu le, we a re in a st rong posit ion to real i ze our v ision to reac h 20 GW of renewables by 2030,” ACEN President Eric Franc i a sa id.

House panel reviews complaint against Meralco

By Jovee Marie N. Dela Cruz @joveemarie

THE Hou se Comm ittee on Legislative Franchises is currently reviewing a complaint from BDO-Unibank alleging undue demands by the Manila Electric Co. (Meralco) regarding their electric supply needs. The issue has become part of the discussions on the early renewal of Meralco’s franchise.

BDO, through the Manjores and Manjores law firm, submitted a letter to the committee detailing their application for an electric connection for a development project at their Makati City headquarters. The project includes a high-rise tower and an annex building, totaling 11,492 square meters, w ith construction initially planned from 2022 to 2028.

T he letter cla ims Meralco required BDO to provide a 684-squaremeter land parcel for a substation as a condition for connecting their development to the electric grid. BDO

viewed this demand as “discriminator y and burdensome.”

“There is apparent discrimination because Meralco has imposed a burdensome condition on BDO concerning the latter’s application for electricity ser vice,” said the letter addressed to lawyer William S. Pamintuan, head of Meralco’s legal ser vices, and submitted to the franchise committee.

Negotiations reached the Energy Regulator y Commission (ERC), which ruled in favor of BDO in 2022, instructing Meralco to proceed with the connection. However Rep. Johnny Pimentel highlighted during a committee hearing that Meralco has yet to comply with the ERC directive.

“There was a decision for Meralco to act on this, but after two years, until now, there has been no action from Meralco,” said Pimentel.

The BDO letter to the committee, according to Pimentel, “ is a ver y serious concern.” The letter, coming from the countr y’s biggest bank, could adversely affect Meralco’s advanced bid

to renew its franchise, which would expire in 2028, Pimentel said.

“This could greatly affect your application if we cannot resolve this issue,” Pimentel said.

Me r alco off i c i als conf ir med BDO’s application for power connection for an expansion project in Makati City, which would require “several hundreds of megawatts.”

The Meralco representatives said the required amount of electric supply would need a site for a new substation, but “the problem is there is no such available space already” in the Makati central business district (CBD).

They said negotiations with BDO revolved around the Meralco demand for land to house the new substation since Meralco will shoulder the costs for equipment and take care of ever ything “except the land.”

Meralco sa id it was standa rd operating procedure for the utility firm to demand land to build new substations on in cases of “new developments.”

hold in the communities of Camella East and Ponticelli in Bacoor, Maia Alta in Antipolo, and along Governor’s Drive in Dasmarinas, and look for ward to building on the elevated super market experience we have long bannered across the chain,” she said.

The company’s spending on adver t ising and promot ions fell to just P3 million from the previous quarter’s P4.9 million due to due to fewer out-of-home billboards and print outs as the company focuses on social medial campaigns “which are more affordable and has a wide reach.” Meanwhile, Villar-led retailer AllHome Cor p.’s income fell 33 percent to P140.45 million from the previous year’s P212.27 million, as sales dropped.

The company said its sales fell 5 percent to P2.76 billion from the previous year’s P2.92 billion.

“W hi le t he soft categories remained stable, the softening demand for the hard categories was significant,” the company said.

Same store sales fell 6.3 percent for the period, which was already down from the previous year’s decrease of 12.1 percent.

B1

By Lorenz S. Marasigan @lorenzmarasigan

CAVITEX Inf r ast ru ct ur e Cor p. (CIC), a subsidiar y of Metro Pacific Tollways Cor p. (MPTC), has recently signed construction deals with D.M. Consunji Inc. (DMCI) and EEI Cor p. for the development of key segments of the Manila-Cavite Expressway (Cavitex).

The deal with DMCI involves the construction of the P3 3-billion C5 Link Segment 3B of Cavitex.

Under the contract, DMCI is responsible for the construction of roadworks, drainage, mechanical, electrical, plumbing, fire protection, sanitar y systems, and toll plazas for the two-kilometer 3x3 lane Segment 3B, which spans from the Kaingin area to the RSG Subdivision.

Construction of this segment is targeted to commence by the second half of 2024 and is expected to be operational by 2025.

“T hi s i s a m i lestone for t he Cavitex-C5 Link as this marks the construction of the last remaining segment. Soon, motorists will benefit from the entire 7.7-kilometer expressway stretching from Cavitex R1 to C5 Road in Taguig,” said CIC President Raul Ignacio.

Currently, segments 3A-1 and 3A-2 of the Cavitex-C5 Link are op-

erational, with Segment 2 expected to open next month The completion of Segment 3B will significantly enhance the traffic flow and connectivity within the expressway system, Ignacio noted.

Simultaneously, CIC also inked a P1.79-billion contract w ith EEI for the construction of the CavitexCav ite-Lag u na-Expressway L i nk (CCLink) Segment 4 Extension.

This 1.2-kilometer 2x2 lane segment will extend from the Cavitex Kawit Toll Plaza to the forthcoming Calax Kawit Interchange.

Construction is set to commence next month, with the segment expected to be operational by mid2025.

“T his collaborat ion w i ll prov ide t he v ital l ink connect ing Cav itex and Calax road network. CIC i s comm itted to ensuri ng t he best road qu al ity for its inf rast ruct ure, ad hering to t he highest standa rds for t he safety of motorists. T his project w i ll en h ance econom ic act iv it ies in Cav ite, Lag u na and t he Nat ional Capital Reg ion,” MP TC President Rogel io Singson.

Aside from Cavitex and Calax, MPTC’s portfolio includes other significant projects such as the North Lu zon Expressway, Subic-Cla rkTarlac Expressway, and the CebuCordova Link Expressway.

The association and the tree

MY s i x-yea r -old g r andda u g h te r who’s in kindergarten was assigned to recite in class a short poem of her choice. W hen she asked for my advice on this homewo r k, I s u ggested Joyce Kilmer ’s “Trees,” an enduring and inspiring ode to the majesty of nature.

The poem is also one for reflection on our own life. Its last stanza provides a profound acknowledgment that ser ves as a humble recognition of the limitations of human creation compared to the divine craftsmanship evident in nature. The poem’s ending says it all: Poems are made by fools like me, but only God can make a tree.” Associations, much like trees, thrive on pur pose, resilience, and the ability to adapt to changing environments. Below are some highlights that metaphorically draw parallels between an association and a tree:

1. Simplicity of purpose and mission: The poem emphasizes the uncomplicated beauty of nature that is untouched by human complexity. Associations can draw inspiration from this simplicity by refining and focusing on their pur pose and mission. A clear and straightfor ward pur pose and mission allow associations to stand tall, much like a tree’s unwavering presence in any landscape.

2. Nurturing a supportive and diverse context: In Kilmer’s imagery of a tree having a nest for robins, associations can find a metaphor for the nurturing role they play. Associations serve as a community where members find support, guidance, and a sense of belonging. Like the tree offering shelter to birds, associations become havens for members seeking collective growth and fulfillment. Associations, too, can draw strength from embracing diversity within their membership. Different perspectives, skills, and backgrounds contribute to the richness of the association’s collective identity.

3. Seasons of change and adaptability: K ilmer’s portrayal of the tree through

changing seasons mirrors the adaptability required for associations to flouri sh Ju st as t rees shed leaves in the fall only to bloom again in spring, associations navigate challenges, evolve, and embrace new opportunities. The ability to adapt to different seasons is a key aspect of an association’s longevity.

4. Recognition of limitations and humility: The closing lines of the poem which acknowledge the divine creation of a tree, inspire associations to embrace humility. W hile associations contribute to positive change, recognizing their limitations is crucial. Just as a tree stands in awe-inspiring beauty despite its simplicity, associations can find strength in recognizing the larger forces at play in societal dynamics.

5. Stewardship and environmental consciousness: T he subtle spiritual undertones in the poem align with the notion of associations as stewards of a cause. Associations can reflect on their responsibility to uphold ethical conduct and advocate for issues such as environmental sustainability, echoing the poem’s connection between the divine and the natural world.

6.Endurance and timeless impact: K ilmer’s poem has endured through time, like the lasting impact associations aim to create. They can aspire to leave behind a legacy that resonates with their commitment to a shared vision and pur pose, standing tall in the collective memor y of members and society. Like trees, associations stand as testament to the power of shared vision and collective impact, rooted in pur pose and reaching for the skies. Are you nurturing your association like a tree?

Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of the BUSINESSMIRROR. E-mail: bobby@ pcaae.org.

BOK’s Rhee keeps rate cut hopes alive even as economy heats up

BANK of Korea Governor Rhee Changyong kept alive speculation over a possible policy easing later this year by highlighting a steady outlook for inflation even as economic growth picks up.

After the bank’s policy board voted unanimously to hold the benchmark interest rate at 3.5 percent for an 11th consecutive time, South Korea’s central bank sharply raised its prediction for economic growth while keeping its consumer-price outlook steady. The moves indicated the bank doesn’t think stronger growth would lead to hotter inflation.

“We thought the big change in the growth forecast would have a huge impact on inflation, but it wasn’t big enough to change the inflation outlook,” R hee said in a news conference Thursday. “That’s big news for us.”

The BOK raised its 2024 growth forecast to 2.5 percent from 2.1 percent, matching an earlier Bloomberg sur vey of economists. That came after first-quarter gross domestic product rose by 1.3 percent, soundly beating a 0.6-percent forecast by private economists. The BOK stuck with its previous forecast for consumer price index growth of 2.6 percent this year

“Our economists have expected a more hawkish BOK given the upbeat first quarter GDP and looked for a revision in its growth forecast to 2.5-2.6 percent and consider raising its inflation forecast,” said Lemon Zhang, an FX strategist at Barclays Bank in Singapore. “The new GDP forecasts with unchanged CPI forecasts turned more dovish than our expectations.”

The yield on South Korea’s policy-sensitive, three-year benchmark bond was steady at 3.4 percent after slipping two basis points earlier The nation’s 10-year yield also consolidated at 3.47 percent.

The equity benchmark Kospi erased its earlier loss to edge higher after R hee said the potential for an interest rate hike was limited, which helped fuel foreign inflows into Korean stocks. The gauge’s gain was also helped by South Korea’s announcement of a support package for chips.

Semiconductor sales have been part and parcel to South Korea’s export rally this year

The trade-reliant nation is home to two of the world’s biggest memor y-chip makers, Samsung Electronics Co. and SK Hynix Inc., who have seen their shares pick up on demand from artificial intelligence developers and data-center operators.

SM Prime bond offer gets nod

By VG Cabuag @villygc

THE Securities and Exchange Commission (SEC) has approved the shelf registration of shopping mall operator SM Prime Holdings Inc. for up to P100 billion of fixed-rate bonds.

In its en banc meet i ng on T hursday, the SEC said it resolved to “render effective” the registration statement for the company’s peso-denom inated bonds which can be offered in one or more tranches, subject to its compliance with certain remaining requirements.

For the first tranche, SM Prime will offer to the public up to P20 billion of 3-year Series V bonds, 5-year Series W bonds, and 7-year X bonds, with an oversubscrip-

tion option of up to P5 billion. Net proceeds from the offer could amount to P24.72 billion, assuming the overallotment option is fully exercised. Proceeds will be used to refinance the listed company’s debt and expand its property portfolio. T he bonds w i ll be offered at face value f rom Ju ne 7 to 14, accord ing to t he latest t imel ine subm itted to t he SEC. T he bonds w

Pag-IBIG Fund honors property developers

TEN members of the Subdivision and Housing Developers Associ ation (SHDA) have been feted as among the leading property developers for 2023 by the Home Development Mutual Fund (HDMF), or the Pag-IBIG Fund.

R hee said most gains in exports would have little influence on price pressure at home and that inflation is seen as staying in a slowing trend. Still, the bank needs more time to be confident that inflation would converge on the target of 2 percent.

“Uncertainties over the timing of a rate cut have grown,” he said, demonstrating that the tilt is toward an eventual easing. “If there is confidence that inflation stabilizes, the task of normalizing the rate level would need to be started.”

The news conference took a “dovish turn after a relatively neutral policy statement, said Wee K hoon Chong, a senior market strategist for Asia Pacific at BNY Mellon in Hong Kong. “The bias for BOK remains to cut in the near-term.”

The weak won bears out the case for keeping the rate restrictive for now as the local currency is among those in Asia that have slumped the most against the dollar this year The Federal Reser ve has signaled caution about the outlook for any rate cuts this year as US economic data have been robust, supporting the dollar The won’s weakness may kindle more inflation in coming months, as South Korea relies heavily on imports of fuel among other products.

“Stronger-than-expected Korean growth and US inflation readings likely justify the BOK keeping rates on hold for longer,” Pantheon Economics said in a report before the decision.

In the property sector, the growth in mortgage loans picked up by 5.8 percent from a year earlier in the first quarter underscoring the difficulties of reining in household debt even as the central bank keeps borrowing costs high Still, credit risks continue to overshadow the South Korean real estate sector Finance related to property projects amounted to 230 trillion won ($170 billion) as of the end of 2023, equal to 2.8 percent of total financial-sector assets. Debt structuring is likely to pick up as 2024 progresses, according to Bloomberg Economics. The performance of the property sector may influence private spending, which has been resilient so far this year Separately, exports will be affected by how artificial intelligence and ser ver demand plays out in

nology

T he gove r nment-owned and -controlled cor poration also recognized other members of the largest and leading industr y associations for housing and urban development in the countr y as leaders in various categories. The top developers for 2023 are 8990 Housing Development Cor p., The New APEC Group of Companies, Raemulan Lands Inc., Axeia Group of Companies, Fiesta Communities Inc. and Hausland Group, Borland Development Cor p., Homema rk Group of Companies, and Lynville Land Development Cor p. Region-wise, the SHDA affiliates that have made it to the list of top 10 developers in North Luzon are The New APEC Group of Companies, 8990 Group of Companies, Borland Development Cor p., Prima Casa Land and House Inc. and Affiliates, K irkwood Development Cor p., and P.A. Alvarez Properties and Development Cor p. & Affiliates. For the National Capital Region, the 8990 Group of Companies is hailed was the best. Also recognized

were Raemulan Lands, Inc., Axeia Group of Companies, Homemark Group of Compan ies, T he New Apec Group of Companies, Charles Builders Group of Companies, Borland Development Corp., Citihomes Builders, and Kaia Homes. Special awards were also presented to Raemulan Lands, Inc. for having the highest number of units taken out. Borland Development Cor p. garnered the accolade for the highest performing loans ratio, and Citihomes Builders and Kaia Homes were cited for having the highest performing accounts ratio.

HDMF also acknowledged 8990 Housing Development Cor p. for serving the highest number of members, while John Dorf Ventures Corp. was recognized for Mindanao, and Saekyung Realty Corp. for Visayas. “These recognitions are a testament to the dedication and hard work of our member-developers. T heir achievements reflect their commitment to excellence and underscore the significant impact our association has on housing development. We are incredibly proud of their accomplishments and look for ward to continuing our mission to provide quality housing for Filipinos,” said Arch Leonardo Dayao Jr chairman of SHDA. The event also featured a renewal

of Pag-IBIG Fund and its stakeholders’ pledge to integrity, in line with their shared effort to conduct all transactions with utmost professional ism and integ rity towards ac hiev i ng t he highest tenets of public ser vice. The StaR awards, organized by Pag-IBIG Fund, celebrate top developers, employers, ser vice partners, and key stakeholders across five ma or regions nationwide. For more t h an f ive decades, SHDA has been the nation’s ally in developing and strengthening the capabi ities of the industr y. It has 350 members nationwide and eight regional chapters. Around 80 percent of homes produced annually in the countr y are built by its member-developers.

Roderick L. Abad

Octavio Peralta

Association World

PHOTO BY JOSHUA HOEHNE

Relationships

Here we go again…

LIKE many others, I, too, received a link to the recent story on Singapore recommending vaccinations of its citizens again, especially that of the senior population and other immuno-compromised individuals, due to the rising cases of Covid in the city-state’s hospitals.

In a piece in The Straits Times, Singapore’s Health Minister Ong Ye Kung said on May 18, “We are [at] the beginning part of the wave where it is steadily rising. So I would say the wave should peak in the next two to four weeks, which means between mid- and end of June.” (tinyurl.com/s6cccsr8)

Similarly, the United States has reported new variants—that are making government health summer. According to the US Centers for Disease and 28 percent of Covid cases this month, up from just 1.4 percent of cases in March. ( ) Here in the Philippines, the Department of Health is trying to calm us down and despite an acknowledged rise in Covid cases, “it is small and lower than previously observed increases. Out of the new cases reported, several had severe or critical various hospitals as of May 12, the agency said in a recent news statement.

works in a major government hospital, there are

ordinary cough and colds. Even if what they may have could be Covid. Unlike the earlier Covid strains, the virus may only manifest as a simple cough or a runny nose, instead of being accompanied by high fever or a lack of appetite. Also, because of us having had Covid, my pulmonologist theorized, we have become more susceptible to respiratory illnesses. Some of his patients have prolonged cough or regular bouts of it, but when he asks them to get a chest X-ray, their lungs are clear. In my case, I’ve had my second attack attacks just twice a year—as the weather turns dry

and when it turns more chilly, around December. And this last two times, it is precipitated by an overall high fever, instead of just a cough and sneezes. Going back to Covid, this overall pooh-pooh attitude of the DOH is a cause for concern. Maybe they’re still smarting from the Pharmally scandal or the P12 billion in losses from the unused vaccines purchased by the government. But this year, the agency has no budget allocation for bivalent vaccines, which many senior citizens and immunocompromised actually need, especially now that Covid cases are rising. If govenment doesn’t want to spend funds on new Covid vaccines, maybe DOH can encourage the direct importation of such by local governments or by private pharmaceutical companies. At least in the case of the latter, those of us who want vaccines can just pay for them. Physicians, scientists and other medical professionals have all been saying that Covid is here to stay and we will have to get updated vaccines

It’s true that government has had to incur a lot of losses from the pandemic, but it’s also true that it would have racked up more if they didn’t import in. (Yet it is also government’s fault that so many vaccines were wasted because they were unable to go directly to the poorest of the poor to give them

Empowering the youth to end child hunger

THE Philippines has long been facing issues of malnutrition and food insecurity.

In a 2021 survey conducted by the Food Nutrition Research Institute of the Department of Science and Technology, about three out of 10 Filipino households experience moderate to severe insecurity.

For children, this can have serious health consequences, among them being stunted or too short for their age.

To raise awareness on this issue and get many more involved in helping children, World Vision recently held the “Until There is Enough: Empowering the Youth to End Child Hunger and Malnutrition” event at National University Fairview as part of World Vision’s Enough Campaign. The Enough Campaign is a collective effort of the World Vision

shots. And for another, because people got vaccinated them no longer wanted to get the better and improved vaccines. All that because the last administration wanted to please their mainland Chinese friends.) Should we wait around for everyone to fall ill deadly as before, but they make our lungs weaker and more susceptible to respiratory illnesses, as my pulmonologist says. And when we are sick, even if it’s just a cough or a cold, we are less productive, or, for companies and reduced contribution to the are unable to see how this all adds up and the impact on the country’s economic growth.

Doesn’t the saying go, “an ounce of prevention is worth a pound of cure”? So it’s best to act now, and get those new Covid vaccines into the country and give shots to those who need them, while the cases are still low. Why wait for the numbers to blow up? As we’ve seen in the immediate past, our government really doesn’t do well in crises. Meanwhile, it’s best to be personally proactive as well. We should mask up, try to avoid crowds or large gatherings, have a good diet (eat those veggies!), and exercise. If our government can’t help us, we should be healthy. Being sick sucks.

partnership to end children hunger and malnutrition across the world. The campaign envisions every child enjoying Enough nourishing food so they can thrive and reach their full potential. The event, in partnership with AISEC, Christian Educators Network

under the Philippines Council of Evangelical Churches, Association of Christian Schools International, and Homeschool Global, gathered students to inspire them to act more for children living under vulnerable circumstances. During the one-day event,

students gained valuable insights on the state of malnutrition in the Philippines through the talk of Kaj Palanca, World Vision program research specialist from strategy management, impact and learning (SMIL) department.

The students were invited to sign their commitment on the “Enough is Enough” wall. “The Until There is Enough event is a wonderful opportunity to get the youth involved in such a relevant matter as malnutrition and food insecurity in the country,” said Jun Godornes, World Vision Philippines interim national director. Help end child hunger now by donating in the Enough Campaign. More information is available at www.worldvision.org.ph/ enough/.

TODAY’S HOROSCOPE

By Eugenia Last

Take

and you will find a solution that helps you regain momentum and point you in a positive direction. A change of location, associates and direction will send you down a better path.

Set a budget, plan with a destination in place and pursue your dream. Associate with positive people and allow positive influences to infiltrate your plans. Nothing will stand in your way once you establish what you want to do and who you want to stand beside.

Believe in your abilities, skills and experience, and display what you can offer others to discover. Leave nothing to chance; be clear regarding important details you pass along to someone else. Take responsibility, run the show and control the outcome.

Emotional matters will fluctuate, leaving you vulnerable. Refrain from limiting what you can achieve by hinting at something unimportant. Stick to what you know, and be precise with details.

The people you meet will offer valid suggestions that encourage you to rethink how you use your skills, money and knowledge to advance. A lifestyle change will be eye-opening and help you gain insight into revising your budget to suit your needs.

Get out of the house and into something that can brighten your day. Spending time with someone special or getting back to nature or a hobby you enjoy will give you the boost you need to feel exhilarated.

Question anything and anyone who doesn’t appear to be on the same page as you. Finding your tribe will lead to personal growth and connect you with individuals who can offer support and guidelines to help you reach your objective.

You are gentle, kind and enthusiastic. You are ambitious and fortunate.

ON UNSPLASH

PHILHEALTH, PIA TEAM UP FOR WIDEST KONSULTA PROMOTIONS

THE Philippine Health Insurance Corpora-

tion (PhilHealth) and Philippine Information Agency (PIA) recently signed a Memorandum of Understanding (MoU) to intensify the promotion of PhilHealth’s Konsulta Package to reach more Filipinos nationwide especially those in far-flung areas.

Konsulta or Konsultasyong Sulit at Tama is PhilHealth’s expanded primary care benefits package which pays for free consultations, health screening and assessment, and any of the 15 laboratory tests and 21 drugs and medicines as needed by the patient and as prescribed by their Konsulta Package Providers of choice.

“PhilHealth’s Konsulta Package is the answer to persisting health conditions and emerging diseases that could possibly lead to financial exhaustion should they be left unattended,”PhilHealth President and Chief Executive Officer Emmanuel R. Ledesma, Jr. emphasized during the simple signing ceremony held at the PIA Head Office in Quezon City.

Both agencies acknowledged and formalized their joint responsibility of instilling awareness on Konsulta as well as other important information about the member’s PhilHealth benefits as mandated by Universal Health Care Law. The partnership is in support of the government’s

drive to strengthen the delivery of primary care to the people under the thrust “Pinalawak at mga Bagong Benepisyo para sa Mamamayang Filipino.” Ledesma, Jr. expressed appreciation to PIA Director General Jose A. Torres, Jr. saying,“We are excited about the partnership since this will further boost our information dissemination campaign through the help of both PIA NCR and Regional Offices nationwide.”As stipulated in the MoU, PhilHealth will constantly collaborate with PIA for the onsite registration of Konsulta beneficiaries and provide relevant and up-to-date information to the public through the help of the PIA Central Office.The agreement includes registration of PIA employees and their dependents into Konsulta; promotion of Konsulta in PIA’s social media platforms, newsletters and instructional materials. Torres, Jr. on the other hand, manifested his unwavering support and enthusiasm to PhilHealth campaigns and promised to inculcate awareness and deeper understanding of the importance of social health insurance among PIA employees.“The public information drive should be national in scope so we can help more Filipinos even if they are in the farthest areas of the country,” he added. Being the government’s leading arm in information and education campaign, Ledesma said that the PIA’s widest and broadest network is crucial in making the Konsulta more accessible to all Filipinos, adding that“soon, the current roster of 21 free medicines will be increased to 53 under the PhilHealth Guaranteed and Accessible Medications for Outpatient Treatment or GAMOT. This in addition to the inclusion of ultrasound and mammogram for the early detection of breast cancer among women,”he added.

Renowned Designer Michael Leyva Unveils Latest Exquisite Bridal Couture Collection

is meticulously crafted to reflect the unique style and personality of every bride.”

The Peninsula and More on May 11, 2024, Michael’s Bridal Collection 2024 redefines the artistry of wedding couture. Each gown, meticulously crafted as a masterpiece, showcased contemporary treatments infused with organic motifs. From intricate floral and foliage embellishments adorning sleeves, bodices, and trains to the ethereal soft pleated organza with horsehair on strings, every detail exuded an unparalleled grace.

“I am thrilled to present my Bridal Collection 2025,” said Leyva. “This collection is a celebration of love, beauty, and timeless elegance. Each gown

In a true testament to innovation, Leyva introduced a mélange of luxurious fabrics and materials, elevating the couture experience to unprecedented heights. From sumptuous laces to intricate hand beading, each element added depth and richness to the collection. Notably, the models were adorned with stunning pieces from Jewelmer, adding a touch of timeless elegance to the ensemble.

The venue itself was transformed into a botanical wonderland, adorned with lush trees and foliage, courtesy of the creative genius of Gideon Hermosa, Michael Ruiz and Teddy Manuel. Their artistic vision provided the perfect backdrop for Leyva’s ethereal creations, enhancing the overall enchantment of the event.

Noteworthy was Leyva’s inclusion of groom’s wear, a significant highlight of his couture

offerings. Classic cuts intertwined with avantgarde elements, such as brocade fabrics, showcased the designer’s commitment to redefining menswear.

Echoing his reverence for local design, Leyva reinvented the traditional terno with a fusion of classic and contemporary accents. Adorned with pearls and embellishments, the iconic butterfly sleeves emerged as a captivating ode to Filipino heritage.

Directed by the esteemed Robby Carmona, the fashion spectacle was graced by luminaries such as Heart Evangelista and other esteemed figures from the fashion world.

The unveiling of Michael Leyva’s Bridal Collection 2024 marked a pinnacle of elegance and innovation, redefining the narrative of wedding couture.

For more information, follow Michael at https:// www.instagram.com/michaelleyva_/

PHILIPS Monitor Philippines, in partnership with Vespa Motoitalia, aim to deliver to its fans and customers their latest promotion— Ride Fast, Play Fast. Buyers who purchase select Philips Monitor models from participating stores and outlets can win premium prizes, including Philips LCD monitors or the grand prize, their very own Vespa S125CC scooter.

Connecting through a shared European heritage, as Philips Monitor hails from The Netherlands and Vespa from Italy, Filipino customers may experience the excellent quality of European products through this promotion. With this, they are given a chance to bring home not only a brand new cinematic entertainment experience with Philips Monitor, but also a chance to bring home a scooter for luxurious travel care of Vespa as well. Both Philips Monitor and Vespa Motoitalia share a commitment to pushing the limits of what is possible in their respective industries. They embody innovation, quality, and a relentless pursuit of excellence, making them standout choices for those who seek the best in their gaming and commuting experiences. This results in Philips Monitor’s cutting-edge technology that has high refresh rates and consistent, high-performance displays, and in Vespa Motoitalia’s stylish and reliable vehicles either for daily use or for high-speed travel.

Running from May 15, 2024 to July 15, 2024, customers can join the promo for a chance to win one grand prize of Vespa S125CC scooter and

PACIFICLIGHT Power Pte Ltd (PLP), a subsidiary of the Meralco PowerGen Corporation (MGen), was awarded by the Energy Market Authority (EMA) the right to build, own and operate two power generating units that will provide 100 MW of Fast Start generation capacity by the second quarter of 2025. This supports Singapore’s call to ensure uninterrupted power when unexpected events occur in its power system. This recent development demonstrates PLP’s commitment to providing dependable powersupply to meet the rising energy demands through strategic operational expansions whilealso producing low-carbon power generation as a liquefied natural gas (LNG) plant.“PLP is pleased to be awarded the 25-year Fast Start contract for a 100 MW, hydrogen ready, gas turbine that can be brought from standstill to

Purchases made from Philips Monitor through its official Lazada and Shopee stores, as well as purchases made from participating stores, will be awarded the equivalent number of raffle entries to customers. Customers who made their purchases need to register by manually registering their purchase through this link www.evniamonitorspromo. com. Customers are advised to keep their receipts as proof of purchase of their monitors and as verification of their raffle entries. Customers will be able to register until July 30, 2024 at 11:59PM, and will receive an email confirmation within 2

Grand Prize for the

Promotion is transferable but not convertible to cash. Winner shall be responsible in informing Philips Monitor Philippines and Vespa Motoitalia about the new recipient’s details. The Ride Fast, Play Fast Promotion is open to all current residents of the Republic of the Philippines. For more information, please contact: marketing@mmdsg.com.ph

capability to provide cleaner power supply to residents of Singapore,” said MGen President and CEO Jaime T. Azurin.

“This award is a testament of PLP’s consistent reliable performance and its good record of being able to deliver as promised. This positive news contributes to MGen’s drive for more sustainable power generation as it transitions to low-carbon power generation such as LNG in the Philippines, creating a more balanced energy mix along with the Company’s increasing renewable energy portfolio.” PLP is an 800 MW LNG power plant, and owned by

IN photo are, standing from left, PhilHealth Acting VP for Corporate Affairs Rey Baleña; PIA-NCR Asst. Regional Director Alice Sicat; Regional Dir. Emver Cortez; Deputy Dir. Gen. Katherine Chloe De Castro; Deputy Dir. Gen. Adolfo Ares Gutierrez; PhilHealth Corporate Legal Counsel Atty. Mauro Anthony Cabading; Head Executive Asst. Joan Madarieta; PhilHealth NCR Public Affairs Unit Head Raymond Edwin Acoba; International and Local Engagement Dept. Acting Senior Manager Leilani Mae Formadero

MICHAEL LEYVA’S Bridal Couture 2025 collection

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

3’s a crowd atop board at Villamor PHL Masters

By Aldrin Quinto

Epson Tour, Del Rosario had a quiet outward nine with one bogey.

PAULINE DEL ROSARIO

methodically made her way to a share of the top spot as pre-tournament favorite Harmie Constantino and overnight leader Florence Bisera overcame back-nine blunders to forge a three-way logjam for the second round lead of the Villamor Philippine Masters on Thursday at the Villamor Air Base Golf Course.

Competing in the fourth leg of the Ladies Philippine Golf Tour (LPGT) season while on a break from the

Beermen eye semis clincher in

Game 4

JBy Josef Ramos

ORGE GALLENT is aware that a sweep won’t be for the picking for the San Miguel Beermen as Yeng Guiao’s Rain or Shine Elasto Painters won’t be yielding their Philippine Basketball Association Philippine Cup semifinals campaign without a victory.

“We’re sure Rain or Shine will come out smoking,” said Gallent on the eve Thursday of Game 4 set 7:30 p.m. at the SM Mall of Asia Arena.

“We must have a desperate mindset like Rain or Shine, we have to bring the energy and we really have to step on the gas in Game 4.”

A desperate mindset hounds the Elasto Painters, who were tasked to take on the eliminations topnotcher who have been dominating the allFilipino conference.

Guiao said they’ll do whatever it takes to avoid the broom.

“At this point, at 0-3, all you can think about is try to get one game and try not to be swept,” he said.

San Miguel Beer, despite June Mar Fajardo’s lethargic performance, moved to the brink of ending the best-of-seven series with a 117-107 win in Game 3 at the Dasmariñas City Arena in Cavite Wednesday.

Fajardo wasn’t in the vicinity of his 20-plus points and rebounds a night and finished with 11 points and as few rebounds, but that hardly mattered as CJ Perez had 23 points and 14 rebounds, Marcio Lassiter made 21 points and Don Trollano got 20 points and 11 rebounds.

Six other Beermen finished in double figures—Terrence Romeo (13), Chris Ross (12) and Mo Tautuaa (10)—in Game 3 to push the franchise to an impending 45th finals appearance and possibly an 11th allFilipino crown and 30th overall.

In the first game at 4:30 p.m., Meralco tries to go closer to the Finals in Game 4 of their semifinals series with Barangay Ginebra San Miguel.

The Bolts lead their series, 2-1, but coach Luigi Trillo knows how the Gin Kings could become potent in times of trouble.

“No letting down because we know Ginebra is capable of coming back,” Trillo said. “But we’re also capable of standing our ground.”

The Bolts blasted the Gin Kings in a defense-oriented Game 3, 8780, with Allein Maliksi and Chris Newsome leading the charge with 16 and 14 points, respectively.    But Ginebra is expected to avoid losing back-to-back.

Christian Standhardinger, who had a career-high 41 points in a Game 2 loss, 91-103, was limited to 10 points in Game 3 while the only Gin Kings who scored in double figures were Japeth Aguilar (15) and Maverick Ahanmisi (13).  The Gin Kings won Game 1, 92-88.

She then made two birdies against two bogeys on the homeward nine to submit a 73, the day’s best in the women’s tournament on a scorching day to rise from joint fourth to co-leader.

Del Rosario, Constantino and Bisera were bunched at three-over 147, setting up a tantalizing finalround showdown in the 54-hole tournament.

Despite some trouble off the tee, Constantino’s 74 was enough to gain a place among the leaders as expected on the course where she has earned numerous trophies including last year’s Ladies Masters.

“Other than driving, everything was fine, my irons were great,” Con-

Seeking a third straight title after victories at Palos Verdes and Caliraya Springs, Constantino held the lead at one-under through nine holes but encountered serious trouble going back, with bogey on No. 15 and doublebogey on the 16th marring her round.

“My game hasn’t been at its best this week…I think I just need to hit better shots tomorrow and pick my lines,” Constantino said. Bisera, meanwhile, managed to hold on despite a 77 that included a 6 on the treacherous par-four No. 5 and bogey on the closing hole.

South Korea’s Seoyun Kim slipped from second to fourth at 148 with a 77, while Mikha Fortuna submitted a 75 to sit alone in fifth at 149.

Apo Golf leg winner

Sarah Ababa had a 76 for sixth spot at 151, while Chihiro Ikeda shot a 77 for joint seventh place with Gretchen Villacencio, who carded a 78.

Apple Fudolin fired a 79 and was alone in ninth at 155, while rounding out the top 10 was Lois Kaye Go, who improved from an opening 82 to a second-

Monsalve holds slim YOUNG Ryan Monsalve survived a disastrous homeward nine to

take a one-stroke lead even as veteran Angelo Que charged up the leaderboard in the second round of the Villamor Philippine Masters.

Solo second at the start of the day, Monsalve started on the back nine and quickly grabbed the top spot, leading by as many as six strokes only to falter down the stretch.

He was four-over in the final six holes and ended up with a 72 for a four-under 140 total.

The 24-year-old Monsalve didn’t seem rattled after the round and said he felt he did well enough to stay in contention midway through the 72-hole tournament.

“I didn’t finish strong, but I believe I still played well mentally,” Monsalve said.

The early cushion was enough to keep him on top, despite Que posting the day’s best four-under 68. Five birdies against a lone bogey pushed Que from joint 18th to solo second, putting him in contention in the P2 million tournament organized by Pilipinas Golf Tournaments Inc.

The 45-year-old Que is looking to return to the top of the podium after his victory in the the PGT Asia’s Manila Southwoods Championship in 2019.

Featuring narrow fairways and laden with water hazards, with play made tougher by the scorching heat, the Air Force facility yielded only eight scores under par.

Rico Depilo was among those in

SENATOR Pia Cayetano expressed her support for the Gilas Pilipinas Under-18 women’s team to the Southeast Asian Basketball Association (SEABA) Under-18 Championship qualifiers in Thailand. In a video message, Senator Cayetano said, “I’m so excited for you. I know it’s a proud moment for you and your family,” Cayetano told the players in a video message. “You are such an inspiration to our youth and our country.”

Reflecting on her own experiences as a former national volleyball athlete, Cayetano said: “I was a volleyball player when I was your age and it takes a lot to get to the level where you are now.”

“At that tender age, you’ve reached

that height of competition and you’re representing the country. That is both an honor and a privilege,” she added.

The senator stressed the importance of national pride and humility.

“Remember when you walk through the airport, leaving the country, you carry with you the Philippine flag,” she said. “Bear it with pride, act with humility, and bring with you all the lessons you’ve learned in sportsmanship. Know that the Filipinos are proud of you. I am proud of you.”

Through Cayetano’s initiative, the team received support from the Philippine Sports Commission for the qualifiers.

The tournament is set May 24 to 26 in Ratchaburi, Thailand.

Bigger bike fest in 2025 sought

SHOPWISE is preparing to host an even larger edition next year following the remarkable success of its inaugural

Princess Galura, Regional Director of the organizing The Ironman Group, emphasized the event’s

“Our focus is on creating events that positively influence our community,” Galura said. “With Shopwise’s sponsorship and the City of Imus’ support, we expect to attract even more participants next year.”

Yulo gets much-needed Korean R&R after dominant Uzbek sortie

CARLOS YULO gets a welldeserved break—a Korean vacation—after a dominant performance that earned him four gold medals at the Asian Men’s Artistic Gymnastics Championships in Tashkent, Uzbekistan.

But the R&R in Seoul would be brief.

“It’s just two to three days…to refresh my mind and for relaxation,” the 24-yearold two-time World Champion told BusinessMirror on Tuesday. “So when I return to the gym, I’ll be feeling great.”

Yulo won gold medals in the floor exercise, parallel bars, vault and his firstever men’s invidual all-around in Tashkent to rebound from his disappointment at the world championships in Antwerp where he could only finish fourth in floor exercise and failed to reach the finals of the other apparatuses.

The 10-time Asian championships fold medalist competed without a medal at the fourth and last leg of the

Soorya

SWorld Cup in Doha.

“I’ll be back in the gym and train for Paris,” added the nine-time Southeast Asian Games gold medalists who’s headed to his second Olympics in July in France.

“We already have routines to follow and my trainers are doing very well,” Yulo said. “I’m confident all those things we learned from my training in Japan, South Korea and London will be utilized for Paris.”

A gold medal in Paris?

“It’s always the goal to win an Olympic gold medal, but by God’s grace if I achieve that,” Yulo said. “That I’ve been dreaming about for a long time.”     Also bound for Paris so far are Yulo’s gymnasts Levi Jung-Ruivivar and Aleah Finnegan, boxers Nesthy Petecio, Aira Villegas and Eumir Felix Marcial, weightlifters John Febuar Ceniza, Vanessa Sarno and Erleen Ando, pole vaulter Ernest John “EJ” Obiena and fencer Samantha Catantan. Josef Ramos

OORYA SOORYA added more meaning to the position of middle blocker as India streaked to a 25-19, 25-13, 25-16 over Chinese-Taipei on Thursday to remain unscathed in two matches in the Asian Volleyball Confederation (AVC) Challenge Cup for Women at the Rizal Memorial Coliseum.

“I’m feeling very happy that we won, and we are hoping that we can get more wins,” said the 6-foot Soorya who had eight blocks in India’s second straight victory in the tournament organized by the Philippine National Volleyball Federation headed by Ramon “Tats” Suzara.

“My teammates are very supportive and our coaches and the Indians in the audience were very supportive,” added Soorya after the one-hour and 20-minute match that drew a good crowd of Indian expats.

“This time, we’re going to win this tournament,” she added, referring to India finishing fourth in last year’s Challenge Cup in East Java, Indonesia. Soorya had seven hits for 15 points while Kambrath Anusree scattered 13 points—all attacks—in the Pool A match of the tournament supported by Meralco, PLDT, Smart, Akari, AyalaLand, Nuvali, Foton, Philippine Sports Commission, Philippine Olympic Committee, Mikasa, Senoh, Asics, Maynilad, Makati Shangri-La, Rebisco, Cignal, OneSports, OneSports+ and Pilipinas Live.

Up next for India are the Alas Pilipinas— who played Australia Thursday night— at 7 p.m. on Friday.

“Playing against the home team is very difficult because the audience support will go to the Philippines,” Soorya said. “But we will try to overcome that.” Chinese-Taipei remained winless in two matches.

Editor: Tet Andolong • www.businessmirror.com.ph

BYD INAUGURATES CEBU DEALERSHIP

BYD in the Philippines continuously expanded its network of dealerships with the recent opening of the Cebu dealership. Electric vehicle enthusiasts and wouldbe owners in the region now have access to the all-new dealership facility.

Owned and operated by Global Star Motors Corp., BYD Cebu is the latest dealership to officially begin its operations under ACMobility, Ayala Corporation’s end-to-end mobility provider encompassing automotive retail and distribution, infrastructure, digital platforms, and services. Also, ACMobility distributes BYD passenger electric vehicles in the Philippines.

Situated along A.S. Fortuna Street, the famed automotive row in Mandaue City, the property boasts a 2,155-square-meter facility. With a showroom floor area of 354 square meters, the dealership can accommodate up to six BYD electric vehicles on display. The new showroom also features the latest BYD Global Brand Identity standards, representing world-class services for every BYD

customer. There is a dedicated service reception, customer lounge, and new car release bay for customers and showroom visitors. In the service area, seven bays are ready to accommodate BYD owners for their EV’s minimal maintenance needs. Moreover, there is a parts and accessories section and two negotiation rooms so that Cebuanos can have a complete BYD customer experience when visiting the showroom.

“As we take this innovative technology to more regions, it is the hardworking individuals in our dealerships who answer our customers’ questions, attend to their needs, and, more importantly, support and reinforce the BYD EV ownership experience. We welcome Global Star Motors Corporation to our fast-

Road Trek revisits a beloved boulevard

expanding network of BYD electric vehicle dealerships nationwide,” said Jaime Alfonso Zobel de Ayala, CEO of ACMobility.

“BYD’s rapid expansion in the country provides more Filipinos with access to its technologically superior, efficient, and ultra-safe line-up of battery electric vehicles,” Ayala added.

For his part, Edward Vincent Onglatco, President and CEO of Global Star Motors Corp., highlighted his company’s commitment to delivering quality service to nurture customer confidence and build lasting relationships between customers and the BYD brand in Cebu. “With the growing urban population and bustling economy, Cebu is the perfect backdrop for BYD’s electric vehicle range, which embodies urban sustainability.”

world-class variety planted on a 26-hectare of prime property. The forested area can be reached after nearly a one-and-a-half hour drive from the world’s largest city that is Davao.

BYD Cebu will soon become an ACMobility charging location with AC and DC charging points for BYD and other electric vehicle owners to charge their EVs while in the city. On the same day the new dealership officially opened, ACMobility inaugurated a new EV charging hub at the basement parking area of the Ayala Center Cebu. It is the company’s first in Cebu and the Visayas region. There are two charging bays, and each has a 22-kW charger with Type 2 and GB/T compatible sockets, respectively.

BYD Atto3 for rent

MEANWHILE, BPI Tokyo Century Rental Corp. (BPITCRC) has recently acquired a BYD Atto 3 electric crossover from BYD Cars Philippines. The unit will be offered for rent or lease through Diamond Rent-a-Car, BPITCRC’s car rental and leasing arm, and

legitimate dark chocos in the world. The lunch that followed at Tola (Clear Fish Soup) Restaurant consisting of mostly native, home-cooked style dishes filled the tummy no end.

one of the largest car rental companies in the Philippines. The collaboration agreement between BYD Cars Philippines and BPITCRC signifies the electric vehicle brand’s engagement in EV leasing while supporting both companies’ Environmental, Social, and Governance (ESG) initiatives. Both companies will jointly develop programs to synergize their sustainability initiatives further.

Established in 1969, Tokyo Century Corp. is a leading Japanese leasing and financing company with a network of over 30 countries and regions worldwide. Then, in December 2014, the Bank of the Philippine Islands (BPI) and Tokyo Century Corp. (TC) announced a joint venture to serve the growing leasing and financing requirements in the Philippines. With TC acquiring 49 percent of the shares

of the former BPI Leasing Corp., BPI Century Tokyo Lease & Finance Corp. (BPICTLFC) and its subsidiary, BPI Tokyo Century Rental Corp. (BPITCRC), were formed.

“Introducing innovation and technology is always challenging, especially when they are as groundbreaking as BYD’s electric vehicles.

ACMobility, through BYD Cars Philippines, has partnered with BPI Tokyo Century to make access to BYD’s technologically superior, featurerich, and safe electric vehicles easier for the public. The more people are aware of the virtues and rewards of sustainable mobility through electric vehicles, and the more they experience the ACMobility charging ecosystem firsthand, the easier it will be for us to progress towards an all-electric mobility future,” said Ayala.

super-satisfying, if only because of the thrill-filled experience at the Malagos Chocolate Farm—a mystifying enclave of thousands of choco-sourced cacao of

17 HEVs USED for the historic trip were 17 mostly HEVs (Hybrid Electric Vehicles), such as a Camry, a Corolla Cross G (I rode this together with Visor chief Vernon B. Sarne behind the wheel, CarBay’s Jeff Reyes and Visor’s tech-savvy Sam Surla), two Corolla Cross GR-S, a Rav 4, a Yaris Cross, a Zenix Q, a Fortuner GR-S, a Hilux GR-S, a Hilux Conquest and a Zenix V. Malagos, a gold medalist in a world choco competition, was the only destination of note scheduled that day but it was enough to fill the plate. Chocolate-tasting there has suddenly become a thought-process, like the nibbling away at choc-trinkets spiked with spices. Nostril-nicker. And, yes, now know that bars marked 65 percent, 72 percent and 85 percent are the only

Denise’s tequila THUS, when dinner time came, just hot chicken soup, squash and pomelos fueled the night of fun and stomp to the eternal delight of Jo Villanueva, the game TMP first VP for corporate affairs. And, while single malt and classy tequila, courtesy of Toyota Davao president Denise Lim (she is the sweet-smiling daughter of my dear friend Boyet Lim, the owner of five Davao Toyota dealerships and three service center facilities) flowed like a river, the heart-pumping music of Sandwich and Naughty Notes made everybody let their hair down—literally—in keeping with the well-cherished tradition of the Road Trek: Every single soul, on the eve of every departure, must be swallowed by the universe hook, line and sinker.

Vince S. Socco, a regular fixture in many RTs, was terribly missed. But in his short dig, Dear Vince, the Lexus Manila chairman, TMP director, and GT Capital Auto and Mobility Holdings chair, said it all: “The RT is really for you guys in appreciation of all you do… Salamat lagi sa suporta.”

‘Time for surprises’

IN her welcome remarks, Ms Denise Lim said: “We are delighted that TMP chose Davao for this event that has become a bonding and thanksgiving tradition between TMP and the media...The first Road Trek to Davao was Road Trek 2 18 years ago, which featured what is now a favorite vehicle of many Davaoenos—the Innova. I, myself, have three Innovas. Back then, we had only one dealership in Davao. Now we have five and three service centers to accommodate the needs of our ever-growing market. Indeed, there is a lot to be thankful for. Thank you, TMP. Thank you, media friends.” Thank you, too, Madam Denise.

And from Jing Atienza, the affable

(FROM Left) Global Star Motors Corp. Corporate Secretary Barbara Gothong-Tan, Cong. Emmarie Ouano-Dizon, ACMobility CEO Jaime Alfonso Zobel de Ayala, DoE Energy Utilization Management Bureau Director Patrick Aquino, Mandaue City Mayor Jonas Cortes, Global Star Motors Corp. president and CEO Edward Vincent Onglatco, Global Star Motors Corp. ViceChairman Atty. Augusto Go, Global Star Motors Corp. Senior vice-president and Treasurer Kenneth Huan, and Consul Emily Benedicto-Chioson (Representing Amb. Francisco BenedictoChairman, Global Star Motors Corp.). ACMOBILITY

(FROM left) BPITC President & CEO Satoshi Matsuo, ACMobility CEO Jaime Alfonso Zobel de Ayala, and Diamond Rent-a-Car Managing Director Quincy S. Buenaflor

THE new EV charging hub in Ayala Center Cebu

THE newly-inaugurated BYD Cebu. Global Star Motors Corp.