BusinessMirror May 25, 2022 by BusinessMirror

‘Sound fundamentals’ mitigated Covid impact By Bianca Cuaresma

@BcuaresmaBM

ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the strong economic foundation of the country before the pandemic has insulated it from further negative effects stemming from the global health crisis. In a recent speaking engagement, Diokno underscored the importance of strengthening economic fundamentals during periods of relative stability to develop buffers in times of crisis. Diokno said the Philippines is “a good example” of this economy with sound fundamentals when

the Covid-19 health crisis struck. According to the Governor, the economy entered the pandemic with healthy external accounts and hefty gross international reserves, which helped maintain relative order in the financial markets amid the crisis. “The Philippine economy is much stronger now than before. Right now, our foreign debt is 30 percent foreign and 70 percent domestic, and we have hefty gross international reserves,” Diokno said. Recent BSP data showed that the country’s gross international reserves (GIR) level settled to $106.76 billion as of end-April this year from the end-March

level of $107.31 billion. The country’s April GIR is the lowest it has been since September last year, when the country’s dollar defenses hit $106.596 billion. The country’s GIR is the level of foreign exchange holdings that is being managed by the central bank during a given period. The GIR is a crucial component of the economy as it is often used to manage the country’s foreign exchange rate against excess volatility. Diokno also pointed out that the country’s strong fundamentals were built through decades of continued implementation of structural reforms and sound macroeconomic management.

To ensure full economic recovery and maintain this longterm economic potential, Diokno said the country would have to implement recent hard-won economic reforms, such as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and the amendments to the Foreign Investments Act, Public Services Act and Retail Trade Liberalization Act. Earlier this month, Fitch Solutions—the research arm of the Fitch Group—said they expect the current administration as a “continuity candidate,” as economic reforms and foreign policies are “most similar” to the outgoing Duterte administration.

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Wednesday, May 25, 2022 Vol. 17 No. 229

P25.00 nationwide | 2 sections 22 pages | 7 days a week

DBCC ADJUSTS GROWTH, INFLATION PROJECTIONS n

By Bernadette D. Nicolas

‘No objection’ by Leni camp speeds up canvassing

@BNicolasBM

HE Cabinet-level Development Budget Coordination Committee (DBCC) cut its GDP growth target for this year for the Philippine economy to 7 to 8 percent from 7 to 9 percent previously. DBCC Chair and Department of Budget and Management OfficerIn-Charge Secretary Tina Rose Marie Canda said on Tuesday the downward revision in GDP growth target this year owed to the heightened external headwinds, including the Russia-Ukraine conflict, China’s slowdown and monetary normalization in the United States. For 2023 to 2025, the economic team also retained its real GDP growth targets of 6 to 7 percent for 2023 as they expect the economy to sustain its strong recovery in the medium term. Government’s economic managers also revised upward their assumption for the country’s inflation rate to 3.7 to 4.7 percent, way above the original 2 to 4 percent target band. “The average inflation rate assumption for 2022 was adjusted upwards and is projected to range from 3.7 to 4.7 percent, following the uptick in the price of food and energy as a result of ongoing geopolitical tensions from the RussiaUkraine conflict and disrupted supply chains,” Canda said during the DBCC press conference. Nonetheless, it retained its 2 to 4 percent inflation rate assumption for 2023 to 2025. Dubai crude oil price per barrel this year is also now projected to

By Jovee Marie N. Dela Cruz

T Senate President Vicente C. Sotto III declares the presence of a quorum on the part of the Senate as senators and representatives convene in a joint public session on Tuesday, May 24, 2022, at the House of Representatives in Quezon City. Seated at right is Speaker Lord Allan Velasco, who together with Sotto vowed a transparent, credible and a quick process as the two chambers of Congress fulfill the constitutional duty to canvass the votes for and proclaim winners of the presidential and vice presidential races in the May 9 elections. VOLTAIRE DOMINGO/ SENATE PRIB

EXTERNAL RISKS TO WEIGH ON Q2 GROWTH–NEDA By Cai U. Ordinario @caiordinario

XTERNAL risks are expected to weigh heavily on the country’s economic growth in the second quarter, according to the National Economic and Development Authority (Neda). In a virtual press briefing after the Development Budget Coordination Committee (DBCC), outgoing Socioeconomic Plan-

ning Secretary Karl Kendrick T. Chua said these risks are the Russia-Ukraine conflict, the US monetary normalization, and the slowdown of the Chinese economy. Chua said the economy would have a better chance of warding off the ill effects of these risks by shifting the entire country to Alert Level 1; allowing face-toface schooling; and accelerating the vaccination of children and seniors.

“There are two factors that we are considering. The first is from the domestic demand. We see it positively contributing to higher growth. However, we have seen inflation higher [and] the Russia-Ukraine crisis extending to the second quarter,” Chua said. “So these will be offsetting some of the higher growth from domestic, stronger domestic demand. So we’ll have to look at all these numbers when the monthly data on unemployment

[and] manufacturing come out,” he added. Allowing face-to-face schooling alone, Chua said, will increase economic activities from 40 percent of the Philippine population. This will help sustain the country’s 8.3 percent growth in the first quarter of 2022. Chua also explained that the strength of the domestic economy was the main consideration See “Neda,” A2

HE canvassing of votes for the presidential and vice presidential race got a speed boost right after it began on Tuesday at the Batasang Pambansa after Vice President Leni Robredo’s counsel made a “continuing manifestation of no objection” to the inclusion of all certificates of canvass (COC) in the May 9 elections, drawing hearty praise from the camp of presumptive president Ferdinand “BongBong” Marcos Jr. Veteran election lawyer Romulo Macalintal made the manifestation just as the contingents from the Senate and the House of Representatives began the process of canvassing of COCs for president and vice president—races which, unofficial tallies show, were won by landslide by Marcos Jr. and his running mate Sara Duterte. As a result of the “no-objection” manifestation, followed by lawyers of Isko Moreno and Sen. Kiko Pangilinan, the canvassing proceeded at record speed. Thus, Congress, sitting as the National Board of Canvassers (NBOC), is eyeing to finish 100 certificates of canvass (COC) within

See “DBCC,” A2

PESO exchange rates

@joveemarie

See “Leni,” A2

n US 52.2500 n japan 0.4085 n UK 65.7828 n HK 6.6568 n CHINA 7.8586 n singapore 38.0581 n australia 37.1341 n EU 55.8709 n SAUDI arabia 13.9296

Source: BSP (24 May 2022)

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Wednesday, May 25, 2022

OWWA to limit free hotel, transport perks for OFWs By Samuel P. Medenilla

@sam_medenilla

TARTING next month, the Overseas Workers Welfare Administration (OW WA) will limit the overseas Filipino workers (OFW), who may avail themselves of its free transportation and accommodations aid. Among those still qualified for such services are distressed OFWs who are certified by the Philippine Overseas Labor Offices (POLO) or as evaluated by OWWA airport officers.

DBCC. . . Continued from A1

soar to $90 to $110 per barrel from $60 to $80 per barrel previously. However, Canda said this is expected to slightly taper down to $80 to $100 per barrel in 2023 and $70 to $90 per barrel in 2024 and 2025 as oil supply is expected to catch up over the medium term.

Also to be still given transportation and accommodations are OFWs returning to the country through government-initiated m a ss repat r i at ion f l ights or OFWs provided airfare by POLOs through commercial flights. In the case of partially or unvaccinated OFWs who are required to undergo mandatoryfacility based quarantine, they will still be given accommodation by OWWA. However, they would have to pay for their transportation going to their home provinces.

T he new polic y was annou nced by OW WA Ad m inistrator Hans J. Cacdac in an advisor y on Tuesday. He said they decided their across-the-board coverage of their free transportation and accomodation services due to the implementation of Alert Level 1 in most parts of the country. Under A lert Level 1, businesses and public transportation are allowed to operate at full capacity. “Hence, transportation and accommodation assistance for re-

turning Overseas Filipino Workers shall be suspended effective June 1, 2022,” Cacdac said. He said among their services to be suspended next month are their OWWA-chartered buses at the Parañaque Integrated Terminal Exchange (PITX) and the OW WA-sweeper f lights at the Ninoy Aquino International Airport Terminal 2. Since the onset of the pandemic in 2020, OWWA has given transportation and accommodation services to over a million OFWs.

Exports of goods and imports of goods are now seen to grow 7 percent and 15 percent, respectively. These are higher than the previous growth assumptions of 6 and 10 percent. Given the expected higher revenues and disbursements in the next two years, the DBCC also decided to maintain its target budget deficits at 6.1 percent for 2023 and 5.1 percent for 2024. For 2025, it also projected the

budget deficit to settle at 4.1 percent of GDP as the government continues to adopt a fiscal consolidation strategy to lower the deficit back to pre-Covid-19 levels.

P5.024 trillion national budget. Sought to clarify whether the incoming Marcos administration can still tweak the proposed national budget cap, Canda said it would be better to stick to that level for prudent fiscal management. However, she said what can be tweaked is the composition of the budget. Canda said they are confident that they will not see an end to the enactment of more gamechanging reforms. She also said the DBCC is ready to work closely with the incoming administration’s economic team to achieve a more sustainable and inclusive growth for the country. “The DBCC remains strongly committed to exercise prudent macroeconomic and fiscal management in prioritizing expenditures that translate to the betterment of micro-communities in the country,” Canda said. “This is reflected in the direction of the FY 2023 expenditure that prioritizes health, disaster risk management, social security, digital economy, local government support, and growth-inducing expenditures such as crucial and shovel-ready infrastructure projects. All these will bring us closer to achieving the United Nations’ Sustainable Development Goals [SDGs],” she said.

Budget cap

The DBCC has also announced the cap for the proposed national budget for 2023 at P5.268 trillion given the expected higher revenue collections. This is up by 4.9 percent from this year’s

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Leni. . . Continued from A1

Tuesday, or two days earlier. After the 100 COC, Senate Majority Leader Migz Zubiri, co-chairman of the canvassing panel, said the NBOC will take a break and will resume on Wednesday at 9 am. As of 8:04 pm, Tuesday, the NBOC already processed 71 out of 173 COCs from different cities and provinces in the country and votes from Philippine posts in other countries. Ferdinand “Bongbong” Marcos Jr. leads all presidential candidates with 11,329,181 votes, while Mayor Sara Duterte leads the VP race with 11,251,995 votes. Meanwhile, the NBOC temporarily deferred the canvassing of votes for Surigao del Sur due to missing COC. According to Zubiri, the provincial COC of Surigao del Sur has been located at the Provincial Election Supervisor Office (PES). April Joy Balaño, provincial election supervisor of Surigao del Sur, confirmed that the COC was still in their possession, saying it was inadvertently mixed with the COCs for other positions. The NBOC allowed Balaño to send the copy of COC through viber. Zubiri and House Majority Leader Martin Romualdez said the no-objection manifestations of Vice President Leni Robredo and Senator Kiko Pangilinan hastened the vote canvassing process. Marcos Jr.’s lawyer Vic Rodriguez said Marcos will attend the proclamation of winners once the NBOC finishes the official canvassing of votes. The NBOC is eyeing to formally proclaim the duly-elected president and vice president of the Philippines by Wednesday afternoon. Once the canvassing is completed, the joint committee report shall be approved and signed by a majority of the members of the Joint Committee. The report shall be approved and signed by a majority of the members of the Joint Committee. Each panel will vote separately. After which, the report shall be submitted to the joint public session for consideration and approval. A majority of senators and House members, voting separately, shall approve the report and adopt the resolution of both chambers proclaiming the duly elected President and Vice President.

Respect majority

In his manifestation, Macalintal said that, “consistent” with Robredo’s public address to supporters right after the elections, when she urged them to respect the decision of the majority as it became clear Marcos Jr. was winning by landslide. “And so as not to delay the proceedings of this board, we would like to make of record our continuing manifestation that we interpose no objection to the inclusion in

Neda. . . Continued from A1

behind the move of the outgoing economic team to revise only slightly the country’s GDP target to 7 to 8 percent this year, from the

the canvass of all the certificates of canvass for president from the various provincial and city boards of canvassers found by this honorable board to be authentic and duly executed,” said Macalintal. “With that continuing manifestation, may we be allowed to respectfully waive our appearance before this joint committee to further expedite its proceedings,” he added. According to Macalintal, their manifestations were consistent with Robredo’s earlier statements before her supporters to accept the results of the May 9 elections. “In her public statement, Vice President Leni Robredo asked her supporters that we need to accept the decision of the majority. Sinabi nya, bagaman may hindi pa nabibilang, bagaman may mga tanong ukol sa eleksyon na ito na kailangang matugunan, palinaw na ng palinaw ang tinig ng taumbayan,” Macalintal said. “Sa ngalan ng Pilipinas na alam kong mahal na mahal ninyo, kailangan nating pakinggan ang tinig na ito, dahil sa huli, iisa lang naman ang bayang pinagsasaluhan natin, habang lumilinaw na ang litrato kaylangan natin tanggapin na hindi ayon sa pangarap natin ang resulta ng eleksyon. She said we need to accept the majority decision,” added Macalintal. Marcos Jr.’s lawyer Vic Rodriguez quickly stood up and expressed appreciation for Macalintal’s manifestation and Robredo’s move, which he called “patriotic.” “We join in the manifestation of my distinguished colleague and one of the election law practitioners, Atty. Romulo ‘Romymac’ Macalintal. Likewise, we would like to recognize and thank the patriotism exhibited by Vice President Leni Robredo for expressly recognizing the integrity and the result of the recently-concluded general elections,” said Rodriguez. In a separate press conference, Rodriguez, meanwhile, said they were surprised by the manifestation of Macalintal. “We were all surprised, but it was a good surprise. It was a show of deep patriotism and I think this is the message demanded by the campaign...message of unity,” he said. According to Rodriguez, this move will hasten the vote canvassing process. Meanwhile, the camp of Senator Francis “Kiko” Pangilinan will not raise any objection on all certificates of canvass for vice president, his camp said on Tuesday. In his manifestation during the joint congressional canvassing, Atty. Renzo Ross Sarte said Pangilinan has no objections to the COCs being processed by the Congress sitting as the NBOC. He added the Pangilinan camp will also waive its appearance in the joint commit tee canvassing to expedite its proceedings. In response, House Majority Leader Martin Romualdez, cochairman of the canvassing panel, lauded Pangilinan and Robredo for recognizing the integrity of the result of the May 9 elections.

initial estimate of 7 to 9 percent. “This reflects the very strong domestic economy and we can actually build on this when we fully reopen the economy by shifting to Alert Level 1, by increasing the vaccination rate, especially of seniors and children, and opening face-toface schooling because those studying account for around 40 percent of the population,” Chua said. “The downward revision from 7 to 9 [percent] to 7 to 8 percent is solely because of external threats to our economic growth, namely, the Russia Ukraine conflict, the slowdown of the Chinese economy, and the US monetary normalization,” he added. In order to prevent ill effects on the incomes of Filipinos, Chua said the government has provided targeted subsidies to affected sectors such as public transport, farmers, and fisherfolk. Chua added the economic team has also proposed the extension of the executive orders to allow greater pork and rice importation to increase supply and manage inflation. He said the full reopening of the economy will open more income sources for Filipinos. “The most important indicator here is their real income or their take home income,” Chua said. “This is really the strategy to raise the real income.”

Meeting with Balisacan

Meanwhile, Chua said, the Neda has officially extended its congratulations to returning Socioeconomic Planning Secretary Arsenio M. Balisacan and already sought his availability for a transition conference. Chua added that the Neda has already prepared their transition notes to pass on to Balisacan, who will be returning to the Cabinet position after steering the oversight agency for four years under the Aquino administration. Balisacan currently chairs the Philippine Competition Commission (PCC). In a statement released to the media on Monday, Balisacan said he will be joining the new Cabinet,“mindful of the immense work needed to accelerate economic recovery and post-recovery development.” (Story here: https://businessmirror.com.ph/2022/05/23/pccchief-balisacan-acceptsmarcos-offer-to-head-neda/)

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RTC awards damages to Marcopper survivors By Jonathan L. Mayuga @jonlmayuga

LOCAL court in Marinduque has ruled in favor of 30 individuals against the Marcopper Mining Corporation for a mine spill that wreaked havoc on a community on December 3, 1993 in what is dubbed to be the worst mining disasters to hit the country. In a decision dated May 16, 2022, Judge Emmanuel Recalde of the Marinduque Regional Trial Court Branch 38 ordered Marcopper to pay each of the plaintiffs P200,000 in temperate damages and P100,000 in moral damages for the civil case filed in 2021. The court also ordered the mining company to pay P1 million as exemplary damages in favor of the plaintiffs. The temperate damages had been paid per a memorandum agreement on July 16, 1994. Environmental groups supporting the survivors of the 1993 Marcopper mining disaster issued a statement hailing what it considers as a landmark court decision. “This is a victory for the plaintiffs who had waited two decades for justice as much as it is for the other plaintiffs who had unfortunately died in the course of this case. We celebrate this ruling and thank Judge Emmanuel Recalde for taking up [the] cudgels for the survivors and the environment,” Elizabeth Manggol of the Marinduque Council for Environmental Concerns (MACEC) said in news statement. In 1990, the Department of Environment and Natural Resources (DENR) ordered Marcopper to build a tailings dam below the Maguila-guila waste dump to prevent silt coming from the dumpsite to flow into the Mogpog River. The company constructed the dam, which was known as Maguila-guila Dam. However, on December 6, 1993, because of typhoon “Monang,” the

Maguila-guila Dam was destroyed and the areas in Mogpog, Boac, and Sta. Cruz were inundated. Barangays Bocboc and Magapua in Mogpog town were submerged in highly toxic floodwater causing extensive damages to property and agriculture. “Large-scale mining projects present inevitable damage. The Marcopper disaster is a warning we should heed with the ongoing and planned largescale projects in the country. The existing Mining Act is problematic. The alternative minerals management bill is urgently needed to safeguard the environment from mining and prevent disasters like this,” Lawyer E.M. Taqueban, executive director of the Legal Rights and Natural Resources Center (LRC) said for his part. LRC, a nongovernment organization that provides free legal services to communities entangled in resource rights issues, served as the legal counsel of the plaintiffs. “This emblematic case should serve as a warning for communities who wish to embrace mining. Litigating mining-related cases like this celebrated case is a slow march to justice. Communities must think their decisions through for the impact of the environment can be irreversible. In the case of Marinduque, the river affected by the spill is all but dead. With this ruling, Judge Recalde has shown that environmental cases do have a fighting chance in our judicial system,” Ryan Roset, director for legal services coordinator of LRC, said for his part. Meanwhile, the court has not ruled on the prayer for the issuance of an order for the complete rehabilitation of the Mogpog River pending another petition before a higher court. Likewise, the court did not rule on the total closure and removal of the Marcopper dumps under the same justification and considering the fact that the government has already ordered the cessation of all the operations of Marcopper.

DAR vows to allot vast tracts of DPPI lands to Tarlac ARBs By Jonathan L. Mayuga @jonlmayuga

FTER validating their status as agrarian reform beneficiaries (ARBs), farmers in Barangay Tinang, Concepcion, Tarlac, may finally receive and start cultivating their own farms soon. The Department of Agrarian Reform (DAR) is now in the process of validating the 236 agrarian reform beneficiaries (ARBs) in preparation for the eventual distribution of land titles and install them as landowners of the 200-hectare portion of the Dominican Province of the Philippines Inc. (DPPI) landholdings. The validation activity involves interviews with the ARBs as proof of their identities and their relationship with the landholdings. External Affairs and Communication Operations Office Assistant Secretary John Laña said the activity seeks to pursue the welfare and rights of the ARBs. “After we determine your identities and relationship with the land-

holdings, we will take the necessary steps to give you the land titles and install you as the rightful owners of the land,” Laña assured. He added DAR needs to follow legal processes so that the recipients of the land would own the properties legitimately. Each ARB would receive an estimate of more than 8,000 square meters from the landholdings. Malayang Kilusang Samahang Magsasaka ng Tinang chairman Felino Cunanan Jr. said he was the one who requested for the issuance of individual land titles. Unknown to most of the farmers, the DPPI had already granted them the right over the property through a Collective Certificate of Land Ownership Award as early as far back as 1995, but the land was being managed by the cooperative without informing them of their status as coowners of the land already. It was only in 2016 that they learned of their status as co-owners of the CARP-awarded land and called on the DAR to issue their collective CLOAs instead.

Editor: Vittorio V. Vitug • Wednesday, May 25, 2022 A3

ILO report: Global labor recovery has gone into reverse course amid inflation, conflict By Samuel P. Medenilla @sam_medenilla

UPPLY chain disruptions and rising inflation are now threatening the recovery of the global labor market from the effects of the Covid-19 crisis, according to a new International Labor Organization (ILO) report. In the 9th edition of its ILO Monitor on the World of Work, the labor arm of the United Nations said the number of hours worked globally in the first quarter of the year dropped to 3.8 percent from the same prepandemic period. “This is equivalent to a deficit of 112 million full-time jobs,” ILO said in a news statement issued last Tuesday.

The “reversal” of the labor recovery has left three in five workers with wages lower than what they received in 2019 and for the global gender gap in hours worked to rise by 0.7 percentage points. “The global labor market recovery has gone into reverse. An uneven and fragile recovery has been made more uncertain by a self-reinforcing combination of crises,” ILO Director General Guy Ryder said.

Ukraine-Russia war

ILO said the trend could continue in the coming months, especially with the ongoing Ukraine and Russian war. “Driven by disruptions in production and trade exacerbated by the Ukraine crisis, the increase in

food and commodity prices is badly hurting poor households and small businesses, especially those in the informal economy,” ILO said. It noted low- and lower-middleincome economies were more vulnerable to the effects of the said economic crisis compared to their higher-income counterparts. “In some developing countries, governments are increasingly constrained by the lack of fiscal space and debt sustainability challenges, while enterprises face economic and financial uncertainties and workers continue to be left without sufficient access to social protection,” ILO said. Meanwhile, in advanced economies, ILO observed, “there were growing number of jobs available relative to job seekers” from January to March.

@butchfBM

OVING to ensure continued reforms to improve quality education, senators have unanimously ratified a bicameral conference committee report Endorsing the Second Congressional Commission on Education (EDCOM II) tasked to promptly come up with much-needed reforms to avert a looming education crisis. Sponsored by Sen. Sherwin T.

Gatchalian, the enabling legislation embodied in the “Second Congressional Commission on Education [EDCOM II] Act,” was billed as a timely legislation to resolve the differences between House Bill No. 10308 and Senate Bill No. 2485, creating EDCOM II to undertake a comprehensive national assessment and evaluation of the Philippine education sector’s performance. Endorsing transformative, concrete, and targeted reforms to make

AMID this bleak outlook, Ryder calls on ILO member-countries for a “human-centered” recovery, which will focus on giving support to vulnerable workers through social protection systems. Likewise, ILO also pushed for “macroeconomic policies so that they address pressures related to inflation and debt sustainability while supporting a job-rich and inclusive recovery.” “The impact on workers and their families, especially in the developing world, will be devastating and could translate into social and political dislocation,” Ryder said. “It is now more essential than ever that we work together and focus on creating a human-centred recovery,” it added.

Freeze quarry activities in Masungi, IPs tell govt By Roderick L. Abad

Contributor

TIGHT SECURITY AT THE BATASAN

Quezon City policemen impose tight security screening and rerouting of vehicles along IBP Road near the Batasang Pambansa Complex in QC on Tuesday with the start of the canvassing of votes for President and Vice President prior to the proclamation of the winners. NONOY LACZA

‘RMA’s 99.93% accuracy rate reflects the will of the people’

HE camp of presumptive President Ferdinand “Bongbong” R. Marcos Jr. on Monday said the 99.93 percent vote accuracy rate showed by the random manual audit (RMA) of votes indicated that the people have indeed spoken and their will should be respected. Incoming Executive Secretary Atty. Vic Rodriguez, Marcos Jr.’s chief of staff and spokesman, said the RMA of votes showed that the digitally transmitted election results echoed what voters indicated on the ballots. “We welcome the results of the random manual audit of votes that the Commission on Elections [Comelec] reported out. We believe that the high accuracy rate proves that the recent elections were not marred by fraud as some sectors have been claiming. The RMA results should

erase any doubt regarding the election results. The people have spoken and they have chosen presumptive President Ferdinand ‘Bongbong’ Marcos Jr. to be the country’s 17th president,” he said. The random manual audit of votes in the 2022 elections showed a 99.93 percent overall accuracy as of May 21, 2022 after 128 of the 757 randomly selected clustered polling precincts have been checked. Comelec Commissioner George Garcia added that a 99.97 percent accuracy rate was reported for the presidential elections, 99.96 percent for the vice presidential race, and 99.97 percent for senatorial and party-list polls. The RMA was led by the Comelec, poll watchdogs like LENTE, an association of certified public

accountants, and the Philippine Statistics Authority. A random manual audit is conducted to check the performance of vote counting machines and to examine the ballots to validate accuracy. Rodriguez called on sectors trying to sow doubts about the results of the elections to stop fanning divisiveness and animosity and instead allow the incoming administration to work productively. “I appeal to those who keep on pursuing this divisiveness, the people have spoken. The Filipino people have spoken and an overwhelming majority has voted President-elect Bongbong Marcos and Vice President-elect Inday Sara Duterte into office as President and Vice President. Learn to respect the will of the Filipino people,” he said.

Senators ratify bicam report on PHL education reforms By Butch Fernandez

Human-centered

the Philippines both globally competitive in both education and labor markets, the EDCOM II’s national assessment and evaluation will review how the mandates are observed in laws that created the Department of Education (DepEd), the Commission on Higher Education (CHED), and the Technical Education and Skills Development Authority (TESDA). Moreover, the national assessment will also recommend specific, targeted and time-bound solutions to

enable education agencies to improve their performance vis-à-vis measurable indicators and deliver accessible, inclusive and quality education that is at par with world standards. As provided in the enabling law, the commission will have three years to accomplish its mandate, with the Philippine Institute for Development Studies (PIDS) serving as the Research Arm of the Commission to produce data based research and provide analysis in

the formulation of education policy recommendations. Gatchalian assured that through the EDCOM II law, timely attention will be focused on what was billed as “a crisis in the education sector” seen to be aggravated by the contagion. “If we want to elevate the quality of education for our youth and ensure brighter future for them, we cannot set aside implementing needed reforms,” Gatchalian stressed as sponsor and co-author of the measure.

@rodrik_28

GROUP of indigenous people (IP) joined the renewed calls to stop the Mineral Production Sharing Agreement (MPSAs) within the Upper Marikina River Basin Protected Landscape (UMRBPL) and the Masungi Geopark Project (MGP). In a petition dated May 19, 2022, some 100 leaders and members of the DumagatRemontado tribe of Antipolo asked President Duterte, Department of Environment and Natural Resources Officer in Charge Secretary Jim Sampulna, and Rizal Governor Rebecca Yñares to save the Susong Dalaga mountain from quarrying. They said that the mountain is sacred to their community and forms part of their heritage given its inclusion to their ancestral domain. “We are worried to know that our beloved mountain is contained in two quarries with MPSA under the name of Rapid City and Quarry Rock,” they added. “In case like that, Susong Dalaga will be gone because the rocks will be mined and the mountain will be flattened. The rivers and water provided by Susong Dalaga will dry up,” they added. Per the areas covered by the two MPSAs, the quarries would level down around 1,000 hectares of mountains within the protected area including the Susong Dalaga shrine considered sacred by the tribe. A deep scar— 400 meters high, 1,200 meters wide, and 5,000 meters long— on the mountains immediately fronting Marcos Highway would also be created. The IP group, likewise, expressed concern about the floods and landslides that would cause destruction to their homes and farms, and even create an impact on those living in downstream areas. It was noted that the floods and landslides that affected San Mateo, Rodriguez, Marikina, Cainta, Pasig and other towns and cities during typhoons “Ondoy,” “Rolly,” and “Ulysses” originated from these mountains. With these in mind, the group urged government officials and quarry companies to withdraw their plans to quarry Susong Dalaga. They also asked that resorts and other destructive activities be similarly averted and removed from the MGP and the protected areas.

A4 Wednesday, May 25, 2022 • Editor: Vittorio V. Vitug

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PHL, Indo-Pacific nations keen on joining US-led IPEF By Andrea San Juan

HE Philippines and other countries in the Indo-Pacific region have launched the process to establish the Indo-Pacific Economic Framework (IPEF) for Prosperity. In a speech, read by Trade Secretary Ramon Lopez, President Duterte said the broad themes of the Indo-Pacific Economic Framework are generally aligned with the Philippines’s economic and development priorities: advancing resilience, sustainability, inclusiveness, and competitiveness are consistent with the Philippines’s interest and development objectives. “The IPEF’s pillars on supply chain resiliency, clean energy, decarbonization and infrastructure are consistent with the joint vision statements for a 21st century United States-Philippines partnership,” said Duterte. According to a news statement released by the United States Trade Representative (USTR), which was forwarded by the White House on Monday, 13 countries, including the United States, in the Indo-Pacific region, collectively announced their commitment to a free, open, fair, inclusive, interconnected, resilient, secure, and prosperous Indo-Pacific region that has the potential to

achieve sustainable and inclusive economic growth. Nations joining the United States in the Indo-Pacific Economic Framework are Australia, Brunei Darussalam, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. Along with the US, these countries represent 40 percent of world gross domestic product (GDP). The above-mentioned countries situated in the Indo-Pacific region recognized that the Covid-19 pandemic underscored the importance of working closely together to ensure that economic recovery and advancement are grounded in resilience, sustainability and inclusivity. Further, the countries collectively said the pandemic emphasized the significance of strengthening economic competitiveness and cooperation and securing critical supply chains, while stimulating job growth and improving economic opportunities. The 13 initial countries of IPEF said that their respective workers, women, medium and small enterprises, and their societies’ most vulnerable groups should highly be considered and included in strengthening economic competitiveness. In the long term, the 13 members stressed, “economic competitiveness

will be largely defined by our ability to harness technology, promote innovation, participate in the digital economy, justly transition energy systems and achieve energy security, and tackle the climate crisis in a manner that produces equitable, inclusive growth and improved socioeconomic welfare.” “This framework is intended to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for our economies. Through this initiative, we aim to contribute to cooperation, stability, prosperity, development, and peace within the region,” the countries affirmed in the USTR statement on Monday. The initial IPEF member-countries also encourage participation from additional Indo-Pacific partners that share their goals, interests, and ambitions for the region. “We are committed to collaborating with our framework partners in a manner that acknowledges the importance of technical assistance and capacity building, allows us to maintain a flexible approach, and delivers tangible benefits for our peoples,” the initial framework partners emphasized. The countries have agreed to launch collective discussions toward future negotiations on the following pillars: Trade; Supply Chains; Clean

Energy, Decarbonization, and Infrastructure; and Tax and Anti-Corruption. Framework partners will be engaging in such discussions on various ways to strengthen economic cooperation to achieve these goals. In relation to Trade, the framework partners seek to build highstandard, inclusive, free, and fair trade commitments and develop new and creative approaches in trade and technology policy that advance a broad set of objectives that fuels economic activity and investment, promotes sustainable and inclusive economic growth, and benefits workers and consumers. “Our efforts include, but are not limited to, cooperation in the digital economy,” they highlighted. On Supply Chains, the initial IPEF member-countries are committed to improving transparency, diversity, security, and sustainability in their supply chains to make these more resilient and well integrated. “We seek to coordinate crisis response measures; expand cooperation to better prepare for and mitigate the effects of disruptions to better ensure business continuity; improve logistical efficiency and support; and ensure access to key raw and processed materials, semiconductors, critical minerals, and clean energy technology,” the countries pledged. In terms of Clean Energy, Decarbonization, and Infrastructure, the IPEF members noted that in line with their Paris Agreement goals and efforts to support the livelihood of their peoples and workers, they plan to expedite the development and deployment of clean energy technologies to decarbonize their economies and build resilience to climate impacts. “This involves deepening cooperation on technologies, on mobilizing finance, including concessional finance, and on seeking ways to improve competitiveness and enhance connectivity by supporting the development of sustainable and durable infrastructure and by providing technical assistance,” the countries further explained. Meanwhile, on the Tax and AntiCorruption pillar, the framework partners are committed to promoting fair competition by enacting and enforcing effective and robust tax, anti-money laundering, and anti-bribery regimes in line with existing multilateral obligations, standards, and agreements to curb tax evasion and corruption in the Indo-Pacific region.

This involves particularly sharing expertise and seeking ways to support capacity building necessary to advance accountable and transparent systems. “We are continuing to identify additional areas of cooperation based on consultations among partners to further our shared interests, with a view to advancing regional economic connectivity and integration,” the framework partners stated. “We look forward to jointly creating conducive environments to boost flows of commerce, trade, and investments amongst our economies, and to enhancing standards and access to our opportunities for our workers, companies, and peoples in our combined markets,” they added. Last week, the Department of Trade and Industry (DTI) noted that the objectives of IPEF are worth pursuing especially since it addresses inclusive growth, supply chain resilience, and digital trade, among others, which are key elements in crafting new generation economic partnership. However, the Center for Strategic and International Studies (CSIS) noted in its Critical Questions research on IPEF on Monday that several countries were still left out of the IPEF launch, particularly some least developed countries in the region. “Several countries were still left out of the IPEF launch. Given political and human rights concerns, Myanmar is not participating. Laos and Cambodia, two of the least developed countries in the region, are also not participating given capacity challenges,” the nonprofit policy research organization said in its research article. The research article added: “Pacific countries in the Americas that participated in the TPP [Trans-Pacific Partnership] negotiations— Canada, Mexico, Peru, and Chile— were not invited.” Further, the nonprofit policy research organization noted “US officials instead plan to use the upcoming Summit of the Americas as a venue to discuss many of the issues covered under the IPEF with these countries.” As for Taiwan, CSIS said, it also “indicated interest in joining the IPEF—and 250 members of Congress called for its inclusion—the island was ultimately left out of the framework to secure the participation of other South and Southeast Asian countries reluctant to antagonize Beijing.”

DA restores 60-day SPSIC validity for meat imports By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) reverted the validity of sanitary and phytosanitary import clearance (SPSIC) for imported meat products to 60 days, arguing that problems hounding the global supply chain have already eased. Agriculture Secretary William D. Dar issued Administrative Order (AO) 11 that revoked his earlier order of extending the 90-day validity of SPSIC for imported meat. Dar cited the better global Covid-19 situation as the reason behind the revocation of his earlier orders that extended SPSIC validity for imported meat. He earlier issued AO 2, Series of 2022 that maintained the 90-day SPSIC validity until revocation “due to the chain issues and logistical difficulties brought about by the global Covid pandemic.” (Related story: https://businessmirror.com.ph/2022/02/01/da-extends-anew-validityof-sps-icsof-meat-imports/) “The current global Covid situation has subsided in many parts of the world, resulting in an easing of the supply chain and logistical restrictions,” Dar argued in AO 11 dated May 23. “DA AO No. 2 Series of 22...is hereby revoked; thus, returning the SPS validity of imported meat back to 60 days,” he added. Dar’s latest order took effect immediately. The BusinessMirror broke the story last year that meat importers count among the sectors hardest hit by the global shipping and logistical problems that arose from Covid-19 pandemic. The Meat Importers and Traders Association (Mita) last year urged the government to extend the SPSICs for meat imports by 30 days to ensure the arrival of the meat supply. Mita explained that shipping schedules last year were in “disarray” as a result of Covid-19-related mobility restrictions, container imbalance and lack of vessels. The group argued that an extension of validity for SPS-ICs is meant “to account for delayed sailings” while the proposed extension of the MAVICs’ validity is “to account for delayed arrivals.”

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Next admin told: Study viability of nuke power

RESIDENT Duterte on Monday urged the incoming administration to consider using nuclear energy for power generation despite its inherent risk. During his public address on Monday, Duterte said the use of nuclear energy would help reduce the country’s dependence on oil. “I hope the next administration will at least explore the possibility of using nuclear [energy],” Duterte said. “You know oil is not infinite. Someday it will dry up. It would be good for any government to prepare for the possibility of making the transition earlier from oil or fossil fuel to nuclear because nuclear is forever,” he added. Duterte, however, acknowledged the potential risk posed by nuclear power, which includes radiation leak and meltdown similar to that of Chernobyl in Ukraine. The incident in Chernobyl in 1986 is considered one of the worst nuclear disasters worldwide. He is hopeful it will be aspired by the next administration since the country’s initial attempts to use nuclear energy was during the administration of former president Ferdinand E. Marcos Sr. Marcos Sr.’s son and presumptive President Ferdinand “Bongbong” R. Marcos Jr. earlier said he is interested in introducing nuclear power in the country. Samuel P. Medenilla

Megaworld case most ill-timed; Dominguez fumes over ‘Pabaon’ continued from a14

“And you know who are among the shareholders? SSS and GSIS. You are affecting the share of stocks of those people, of those institutions … I don’t know who else have shares there—I don’t know the total list— but why would you affect the value of the wealth of the people when there is nothing really yet to accuse them of?” he asked aloud. It would have been better, he said, if the jurisdictional issues on who gets to audit the company were settled within BIR first. “They asked me before and I signed it, who is going to be audited where, if this one is attached to the Large Taxpayers [Service]. Let them do their job. Before you go out, you settle the jurisdictional issues first. If not, the BIR is looking kind of stupid, doesn’t it?” he said. Despite these remarks, Dominguez said the BIR Large Taxpayers Service will still be pushing through with its investigation of the issues on the sale of Taguig properties being developed by Megaworld. “Of course, we have to do it,” he said.

Guballa: No ‘pabaon’

SOUGHT by this paper for comment regarding Dominguez’s statement that there are some BIR personnel that are raising money supposedly for the Cabinet official’s “pabaon,” BIR Deputy Commissioner Arnel Guballa denied this claim. “This is completely not true as far BIR is concerned. To validate better to ask Taxpayers [Service] so we can address this issue,” Guballa told BusinessMirror in a message. He also said this was the first time that he heard of this narrative. The BusinessMirror also tried to get Guballa’s response to Dominguez’s claim that he was unaware of the issuance of the closure order against Megaworld, but he had yet to respond as of press time. This paper also sought the side of BIR Officer in Charge Deputy Commissioner Marissa Cabreros but she has also yet to respond.

Wednesday, May 25, 2022 A5

Comelec says govt could save as much as ₧8.6B if BSKE polls in Dec canceled By Samuel P. Medenilla @sam_medenilla

HE government could save as much as P8.6 billion if it would finally decide to postpone the Barangay and Sangguniang Kabataan Elections (BSKE) this year, according to the Commission on Elections (Comelec). The poll body issued the statement amid calls in Congress to once again reset the date of the BSKE polls.

“An P8.6 billion budget is allocated for the Barangay and SK elections. This will become [government] savings if there will be no such elections,” Comelec Commissioner George M. Garcia said in a televised interview last Tuesday. Under the Republic Act (RA) No. 11462, the conduct of the next BSKE was deferred from May 11, 2020 to December 5, 2022. Lawmakers are currently considering the postponement of the BSKE

to cut down government costs as it deals with the economic impact of the novel coronavirus disease (Covid-19) pandemic. Changing the date of the BSKE, however, may once again require the passage of a new law. “The Commission on Elections is the implementer of laws made by Congress and signed by the President. So we will comply if they say the BSKE will no longer push through [this year],” Garcia said.

Socials driving SM Group’s MICE biz By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

NGELES Cit y, Pampanga—Social events are now helping drive the meetings and conventions business of the SM Group. In a news briefing to commemorate the opening of the SMX Convention Center here at the Clark Freeport on Tuesday, SMXCC Vice President for Sales and Marketing Agnes T. Pacis said, “One of the newest segments in MICE [Meetings, Incentives, Conventions, Exhibitions business] are social events like weddings, birthday parties, renewal of vows...which, in the past, were not held in convention centers.” In 2017, one Dian Serranilla lit up social media for being the first debutante to celebrate at the Mall of Asia (MOA) Arena, which is also owned by the SM Group. At the same news briefing, SM Hotels and Conventions Corp. (SMHCC) Executive Vice Presi-

THE SMX Convention Center in Clark, Pampanga, was opened to the public on Tuesday, May 24, 2022. Leading the opening ceremony are SMHCC President Elizabeth T. Sy (fifth from left) and CDC chair Ed Pamintuan (second from right). Others are (from left): SMXCC senior branch manager Miguel Morato, SCMC President Steven Tan, SMHCC EVP Peggy Angeles, representative of Mabalacat Mayor Cris Garbo, SMHCC SVP for Operations Walid Wafik, and DOT Region 3 Division Chief Ronsan Pelariza. PHOTO BY STELLA ARNALDO

dent Peggy E. Angeles said because of the Covid-19 pandemic, there has been a “pent-up demand” for meetings and conventions, which had to be conducted mostly via Zoom and other online meetings platforms. The MICE business has been “steady” as convention organizers “have been breaking up their events by re-

Comelec: 10 percent of EBs, poll workers yet to claim honorarium

NLY 10 percent of the electoral board (EB) members and other election workers who served in the May 9, 2022 elections have yet to claim their honorarium, according to the Commission on Elections (Comelec). In a news conference on Tuesday, Comelec Deputy Executive Director for Operations Teopisto E. Elnas Jr. disclosed they already paid 90 percent of the overall honorarium meant for the said election workers. He reminded the other election workers with unclaimed honorarium to go to their concerned Offices of Election Officers (OEO) as soon

as possible. “Comelec is only given 15 days to settle all its obligations as far as payment of honorarium is concerned, but nonetheless if it remains unclaimed Comelec will wait for you,” Elnas said. “But as much as possible, they [EB members] should already claim their honorarium,” he added. Elnas said the honorarium is paid in cash for this election unlike in the 2019 polls when they used cash cards for its payment to qualified EB members. There are 106,174 clustered precincts nationwide each manned by three EB members during the 2022 polls. Samuel P. Medenilla

gions,” such that there are several editions of an event in different locations. Aside from social events, the largest MICE clients of SMHCC are now multi-level marketing groups, religious groups holding prayer services, pharmaceutical firms, business process outsourcing companies, etc.

at expanding their existing EU Coordinated Maritime Presence (CMP) where the European Council declares certain “maritime area of interest,” enabling EU member states to share information, awareness and analysis. It also mandates the use of naval or air assets of EU member states. In 2021, the CMP was piloted in the Gulf of Guinea. Around 95 percent of worldwide kidnapping for ransom at sea in 2020 occurred in the Gulf of Guinea. In February, the EC declared the North-Western Indian Ocean as another “maritime area of interest.” It will cover the Strait of Hormuz to the southern tropic to the North of the Red Sea towards the center of Indian Ocean. EU’s approach, meanwhile, in Southeast Asia is geared more toward capacity-building.

rector for Operations Teopisto E. Elnas Jr. said among their preparations for the BSKE will be the expected resumption of voter registration by July. He also said they would have to complete the procurement of forms and supplies as well as the printing of the necessary ballots. “It will take some time so we have to prepare as soon as possible so we [run out of] time,” Elnas stressed.

“SM X Convention Center’s presence in the vibrant district of the north solidifies SMHCC’s unprecedented growth and optimism as Clark Freeport is poised to become the preferred MICE and tourism destination in the Asia Pacific region by 2030,” added Angeles. For his part, Clark Development Corp. (CDC) Officer-inCharge Dennis Legaspi said the SMX Convention Center is a “welcome addition” to the free port, as it promotes the area as a major MICE destination. By June, he said, the free port will be hosting a business convention with some 1,000 participants. Data provided by the Department of Tourism (DOT) showed visitor arrivals in Clark recovering to 640,353 in 2021, up almost 10 percent from 582,902 the year before. From January to April 29 this year, visitor arrivals in Clark were recorded at 141,228. DOT, however, could not say how much of these arrivals were MICE participants. Angeles, meanwhile, announced that SMHCC will be opening another convention center and MOA Arena at the South Road Properties (SRP) in Cebu City, where SM City Seaside and Radisson Blu Cebu are located. The convention center will be completed “in the next four

years,” she said. The company is also slated to open Lanson Place Hotel and Serviced Suites at the MOA complex in Pasay City by the first quarter of 2023. Two more hotels will rise at SRP in Cebu, but Angeles said the brand names are still “under discussion.” SMXCC Clark is the second standalone convention center of the SM Group after SMX Manila. It has a gross leasable space of more than 4,000 square meters (sq m), comprising two-level event venues and a mezzanine for offices. Conveniently adjacent to Park Inn by Radisson Clark and SM City Clark, the new convention center has three trade halls, three function rooms, and 14 smaller meeting rooms. These properties are interconnected by the SM Sky Line, providing a seamless link among the retail, entertainment, corporate, and educational establishments in the SM Clark complex. Currently, SMHCC has nine properties covering 2,200 rooms and over 14,000 sq m of leasable convention space. These include Taal Vista Hotel, Pico Sands Hotel, Conrad Manila, Radisson Blu, Park Inn by Radisson in Clark, Davao, Iloilo, North Edsa, and Bacolod; as well as the SMX Convention Centers and trade halls.

Valenzuela City breaks ground for hospital facility expansion

HE project, which will expand VMC’s operational capacity from 200 to 500 beds, includes the construction of a roof deck, central sewerage treatment plant and central powerhouse. It will also house VMC’s expanded Radiology Department, Operating Room Complex and Surgical Intensive Care, Hemodialysis, Chemotherapy and Ambulatory Surgical Units. Valenzuela 2nd District Rep. Eric Martinez, principal author of Republic Act 11327 which created VMC, led the groundbreaking rites with special guests and supporters led by Senators Christopher “Bong” Go and Sherwin Gatchalian, Rep. Wes Gatchalian and Mayor Rex Gatchalian. Located in a 6,600-square-meter

EU eyes tag as global maritime security hub EUNAVFOR MED IRINI, meanwhile, was mandated in 2020 to implement the United Nations arms embargo on Libya with the use of its aerial, satellite and maritime assets. It conducts inspections of vessels on the high seas off the Libyan coast that are suspected to be carrying arms or related materials to and from Libya. It also monitors illicit exports from Libya of petroleum, crude oil and refined petroleum. In September 2021, the EU adopted its strategy of cooperation in the Indo-Pacific, where members are maritime states including the Philippines. The EU recognized the Indo-Pacific region’s “growing importance” accounting to 60 percent of world’s GDP and with growing geo-political tensions. Cremonini said the EU looking

Until the said legislation is promulgated, Acting Comelec spokesman John Rex C. Laudiangco said they would continue with their preparations for the conduct of the BSKE this year. “We have less than six months and the Comelec cannot afford to seize its preparations without the Republic Act,” Laudiangco said in a news conference on Tuesday. Comelec Deputy Executive Di-

continued from a14

The EU has Critical Maritime Routes Indo-Pacific (CRIMARIO) project aims to increase maritime security and maritime domain awareness in Brunei, Cambodia, India, Indonesia, Malaysia, Maldives, Myanmar, the Philippines, Singapore, Sri Lanka, Thailand and Vietnam. The EU is also active in the Asean Regional Forum, a multilateral forum with 27 members espousing dialogue on security issues. Cremonini said Russia’s invasion of Ukraine showed the need to uphold international law including the Law of the Sea. “It’s all part of the same. We want to uphold, promote international law, what we call our rules-based order be it in our neighborhood or be it farther away because the European Union has growing global interests,” he explained.

lot in Karuhatan, Valenzuela City, VMC’s extension building will be constructed by Triple A construction firm Scheirman Construction Consolidated Inc. (SCCI). Target completion date is June 2023. VMC’s extension building is designed to cater to the increasing number of patients, provide space for new and additional services and enhance the quality of patient care and experience. As a Department of Healthretained hospital, VMC’s goal is to become the “People’s Choice by 2028” through its mission of providing institutionalized patientcentered and pandemic resilient health care. It currently specializes in neonatal, geriatrics, dermatology, ophthalmology, trau-

ma, burn management, cancer care, stroke care, emerging and re-emerging infectious disease and hemodialysis. In 2018, the Duterte administration granted VMC, through a usufruct agreement, an additional 6,600 square meters of land for its expansion. Since then, VMC has built an Infectious Disease Clinic and Warehouse building. Currently, it has a 134-bed operating capacity and two emergency rooms—one for infectious and another for noninfectious diseases. There is also a Malasakit Center, a pet project of Senator Go. Construction of a 3-story motorpool, support and central supply and sterilization room is ongoing.

DA okays 2nd importation of fish to ‘help consumers’ continued from a14

“An initial volume of not less than 280 metric tons or equivalent to 10 container vans shall be allocated to each of the qualified importers, which they will immediately apply for an SPSIC with BFAR, the last day of which shall be by June 15,2022,” Dar added. The DA said BFAR will immediately process SPSIC applications and endorse them to Dar for approval. “In the application for SPSIC, the importer shall indicate the Port of Entry and final destination of the imported small pelagic fish under this CNI. All

importers shall likewise observe the timeline for applications of SPSICs as may be provided by BFAR,” Dar said. “Transfer of allocation shall not be allowed,” Dar added. The government’s economic development cluster (EDC) earlier proposed the issuance of CNI for small pelagic fish with a total volume of 140,000 MT to plug the shortfall in domestic supply for the remaining quarters. The EDC’s fish importation proposal is part of the measures that it identified to mitigate the impact of the Russia-Ukraine crisis on food supply and prices.

BusinessMirror

Wednesday, May 25, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong MATSUBARA, MARIKO Program & Project Mgmt Associate Manager 1.

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

Brief Job Description: Performs accounts payable transactions with medium to high complexity. ISHIGAKI, MOMOKO Transaction Processing Analyst

Brief Job Description: Performs accounts payable transactions with medium to high complexity. IWATA, RUMI Transaction Processing Analyst

Brief Job Description: Performs accounts payable transactions with medium to high complexity.

Basic Qualification: College Graduate. (Preferably Commerce, Business Administration or Accountancy, or any Business-related course.)

20.

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

21.

Basic Qualification: Accounting, Finance or any business-related course graduate are preferred.

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

Brief Job Description: Managing incoming calls and customer service inquiries KYAW NAING TUN Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires YANG, GUOQIANG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires ADE GUSRIANTO Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries ANTHONY Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries FEBIAN Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HENDERIANTO Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries JONES DICAPRIO Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries SANFRED RETARIES LIM Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires KHONG VOON KENT Malaysian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires TEO BOON KEAT Malaysian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires BUI QUANG LINH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DUONG THANH TRUNG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HOANG NHU MY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LE THI HANG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

Brief Job Description: Managing incoming calls and customer service inquires LUU NGOC QUYEN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LY COONG PHUC Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires

Basic Qualification: Accounting, Finance or any business-related course graduate are preferred.

NGUYEN QUANG MUNG Vietnamese Customer Service Representative

23.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Accounting, Finance or any business-related course graduate are preferred.

24.

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

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

22.

25.

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

26.

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

27.

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

28.

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

29.

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

30.

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

31.

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN VAN THANG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NIN CHI SON Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires PHAM THI MY LINH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires PHAN THI PHUONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires TRAN HUY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires TRAN THI HA NHU Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires TRAN THU HONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires TRUONG THI TIEP Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

GIBSON, ANNA GISELLE Part-time Faculty 32.

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

ZHANG, JIALIN Learning And Development Specialist 33.

Brief Job Description: Work with other members of the TAS Learning & Development team.

WANG, BAODONG Construction Manager 34.

Brief Job Description: Oversee and direct construction projects from conception to completion.

CHEN, QIPENG Management Support Analyst 35.

Brief Job Description: Analyze data gathered and develop solution, highly organized and able to multitask. LAN, YUYUAN Operation Assistant

36.

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

FAN, XIAOLIN Quantity Surveyor Supervisor 38.

39.

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

40.

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

41.

42.

CAO, MENGYU Customer Service Representative Brief Job Description: Customer Service Representative (CSR)

CHEN, CONG Customer Service Representative Brief Job Description: Customer Service Representative (CSR)

CHENG, XUYONG Customer Service Representative Brief Job Description: Customer Service Representative (CSR)

LIN, YOUHUA Customer Service Representative Brief Job Description: Customer Service Representative (CSR)

LAMONT, NATHAN Field Sales Consultant 43.

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

Brief Job Description: The one responsible to “get the sale” using various customer sales methods.

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

VILSHNEVSKA, OKSANA Field Sales Consultant 44.

Brief Job Description: The one responsible to “get the sale” using various customer sales methods.

Brief Job Description: Work closely with Operation Manager, site inspection monitor of construction progress. ZHENG, CHAOJIE Operation Assistant

CHIEN KWONG YEE Bi-lingual Speaking Customer Service Officer 45.

37.

Brief Job Description: Work closely with Operation Manager, site inspection monitor of construction progress.

Brief Job Description: Resolves product or service by clarifying the customers complaint

HOANG BAO SAN Bi-lingual Speaking Customer Service Officer 46.

Basic Qualification: Master’s degree in business management, excellent communication skills.

Brief Job Description: Resolves product or service by clarifying the customers complaint

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

Basic Qualification: Can Research Accounts and Generate or Follow Through Sales Leads; Can Valuate Customers Skills, Needs and Build Productive Long Lasting Relationships; Can Meet Personal and Team Sales Targets

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese

Salary Range: Php 30,000 - Php 59,999 JAMES ONG KWANG LOONG Bi-lingual Speaking Data Analyst Officer 47.

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

Brief Job Description: Interprets data, analyzes results using statistical techniques and provides ongoing reports

Basic Qualification: Bachelor’s degree in business management, excellent communication skills. Salary Range: Php 30,000 - Php 59,999

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

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

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

Basic Qualification: Bachelor’s degree in business management, excellent communication skills.

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

CHROMELAB TECHNOLOGIES INC. 25/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

Basic Qualification: Work with other members of the TAS Learning & Development team.

Basic Qualification: Bachelor’s degree in business management, excellent communication skills.

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

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

Basic Qualification: PhD in Biotechnology, Biosafety, and security or any related field, background in environmental toxicology and biotechnology, a public health professional

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

Basic Qualification: Bachelor’s degree in business management, excellent communication skills.

C’EST LA VIE EVENT MANAGEMENT INC. 230, Narra Street, Marikina Heights, City Of Marikina

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

Brief Job Description: Material submission, ordering procurement, measure and value work done on site.

QUALIFICATION AND SALARY RANGE

BILLION DRAGON OUTSOURCE PHILS., INC. One Townsquare Place Bpo Bldg., Alabang Zapote Rd., Almanza Uno, City Of Las Piñas

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

BIGCON CONSTRUCTION & DEVELOPMENT CORPORATION Unit 3b, 2nd Floor, Rayco Tower, Doña Soledad Ave., Don Bosco, City Of Parañaque

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

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

AVANZADO OUTSOURCING SERVICES CORP. Unit 25d, 2/f Zeta Ii Bldg., 191 Salcedo St., San Isidro, City Of Makati

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

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

Brief Job Description: Part time faculty with expertise in the field of biotechnology research, biosafety and security

No.

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

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

QUALIFICATION AND SALARY RANGE

ATENEO DE MANILA UNIVERSITY, INC. Ateneo De Manila University, Katipunan Ave., Loyola Heights, Quezon City

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

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LE THI TO TRINH Vietnamese Customer Service Representative

www.businessmirror.com.ph

LOH WEI JIN Bi-lingual Speaking Data Analyst Officer 48.

Brief Job Description: Interprets data, analyzes results using statistical techniques and provides ongoing reports

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

PHONG YUEN CHOI Bi-lingual Speaking Data Analyst Officer 49.

ESTABLISHMENT / ADDRESS

Brief Job Description: Interprets data, analyzes results using statistical techniques and provides ongoing reports

QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese

No.

62.

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

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

TEO ANN TAK Bi-lingual Speaking Data Analyst Officer 50.

Brief Job Description: Interprets data, analyzes results using statistical techniques and provides ongoing reports

TRAN QUOC PHONG Vietnamese Customer Service Representative 63.

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

Salary Range: Php 30,000 - Php 59,999 COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

QUIÑONES SARABIA, MARIA NELLA XIOMARA Process Specialist - Voice 51.

Brief Job Description: Service Support Solution includes diagnosis, resolution and reporting of customer issues and questions relating to YouTube paid content products. Service is Tier 1 end user support with escalations to Google

Basic Qualification: BA or BS Degree (in lieu of degree, 4 years of relevant work experience); Minimum 2 year(s) customer service support experience (voice, email, or chat), working with direct consumers, preferably in a B2C environment

TRAN VAN DAI Vietnamese Customer Service Representative 64.

GAJAPATHY, SATHISH Associate Director

52.

Brief Job Description: Oversees workforce optimization programs to ensure innovation and standardization of best practices across all divisions in partnership with Operations Heads, Define key metrics related to provide management with a clear understanding of business performance and Analyze historical trends and future projections to create forecasting, scheduling, and staffing plans

Basic Qualification: Educational background: bachelors in business administration Experience: More than 10 years Salary Range: Php 150,000 - Php 499,999

HE, HUI Customer Service Representative

65.

53.

Brief Job Description: Manage incoming and outgoing calls, chats and emails. DUONG THUC PHUONG Vietnamese Speaking Customer Service Representative

54.

Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to deal with.

WEI, JING Operations Director 55.

Brief Job Description: Organize and oversee the daily operations of the company. Responsible for leading and managing multiple project teams. Expected to identify, propose, manage, and close construction projects that generate profits for the company.

66.

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

ENERGY CHINA PHILIPPINES BRANCH OFFICE Unit 1718, High Street South Corporate Plaza Tower 1, Bonifacio Global, Fort Bonifacio, City Of Taguig Basic Qualification: Knowledge and experience in the construction sector. Experience as part of a leadership team driving growth in a business. Delivery of process and service improvement. Good in building customer relationships. Effective financial planning, budget and cost management.

HARTONO INDRA President/CEO 56.

Brief Job Description: Responsible for the target fulfillment (MRP, budget, etc.) agreed with the member of the board

67.

58.

Brief Job Description: Oversees employee disciplinary meetings, terminations, and investigations.

WANG, BO-JIA Chinese Technical Support Representative

Basic Qualification: Knows about the systems of strategic planning, organization, effective management, determination and controlling to manage an organization

Brief Job Description: Provides daily support to users of various computer system including questions, analyzing problems and quickly forming solutions to return systems to proper operation.

BUNYARIT, PENNAPAR Thai Technical Support Representative 69.

Brief Job Description: Provide daily support to users of various computer systems including answering questions, analyzing problems, and quickly forming solutions to return systems to proper operation

ZHOU, NIDUO Mandarin Accounts Staff

Basic Qualification: Can speak mandarin

Brief Job Description: Assist in determining pricing quotes for customers

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

SAEYANG, PHAWIDA Thai Technical Support Representative

Basic Qualification: Can speak mandarin

LI, JING Mandarin Team Leader Brief Job Description: Responsible for leading the subordinate team in all their activities

70.

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

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

LE THI THUY DUNG Vietnamese Customer Service Representative 59.

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

NGUYEN THI BICH LIEN Vietnamese Customer Service Representative 60.

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

NGUYEN THI PHUONG DUNG Vietnamese Customer Service Representative 61.

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

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

SUTTHISAK, POKCHUT Thai Technical Support Representative 71.

LOC NGOC MAI Vietnamese Customer Service Representative 72.

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

74.

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

75.

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

Basic Qualification: Bachelor’s degree; 10 years’ experience in sales and marketing including leadership of large field force; experience with turnaround challenges and performance delivery; brand management experience including product launch.

76.

77.

78.

79.

80.

81.

82.

Salary Range: Php 500,000 and above

NGUYEN QUY KIEN Vietnamese Customer Service Representative 73.

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

84.

Salary Range: Php 30,000 - Php 59,999 85. Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin is an advantage.

86.

87.

88.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for, Fluent in Chinese Mandarin is an advantage Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for, Fluent in Chinese Mandarin is an advantage Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English and their respective Native Language for the position applied for; Fluent in Chinese Mandarin is an advantage

89.

90.

91.

92.

93.

AUNG MAUNG Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries KYAN CHWIN KYU Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NAN KHAM SUT Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NANG MO SAN LINN Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires DU, RUOYU Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires. LI, ZIMO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires MENG, JIE Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires. NG SHIH SHENG Malaysian Customer Service Representative

83.

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

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin is an advantage. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin is an advantage. Salary Range: Php 30,000 - Php 59,999

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

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

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

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

VU VAN DUY Vietnamese Customer Service Representative

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

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. 31/f Tower 6789, 6789 Ayala Avenue, San Lorenzo, City Of Makati

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

57.

Brief Job Description: The business head unit is primarily responsible for achieving and driving to exceed the business unit targets and goals. directing and driving the commercial strategies and deliver optimal sales and growth for strategic products; to lead, coach, and develop the sales and marketing teams in order to build a strong, positive, and successful culture. Create a strong leadership infrastructure and ensure that effective people management practices are implemented; the business head unit is responsible for attracting, recruiting, and retaining high-caliber candidates, as well as developing and driving excellent launch plans and ensuring best-in-class vaccine launches in the country. Collaborate with external government and internal stakeholders to develop long-term partnerships for the vaccines business, including legal, CGA, RA, medical, Commex, and others.

ZHAN, SHIGENG Mandarin Speaking HR Officer

68.

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

NGUYEN VAN TRUONG Vietnamese Customer Service Representative

INQUICK SERVICES INC. Unit 606 6/f Itc Bldg., 337 Sen. Gil Puyat Ave., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 FESTO, INC. Km 18 West, Service Rd., Marcelo Green Village, City Of Parañaque

Brief Job Description: A customer service representative supports customers by providing helpful information, answering questions, and responding to complaints, They’re the front line of support for clients and customers and the help ensure that customers are satisfied with products, services, and features.

No.

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

BAWA, HITESH Business Unit Head

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

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

GLAXOSMITHKLINE PHILIPPINES, INC. 23rd Flr. The Finance Centre 26th St. Cor. 9th Ave., Bonifacio Global City, Fort Bonifacio, City Of Taguig

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati JHANG, YU-SHAN Mandarin Speaking Customer Service Representative

QUALIFICATION AND SALARY RANGE

GATEWAYSOLUTIONS CORP. Unit 2306 Antel Global Corporate Center, Julia Vargas Ave., San Antonio, City Of Pasig

Salary Range: Php 90,000 - Php 149,999 CSSCORP ICT SERVICES, INC. 3rd Flr. Bonifacio Technology Center, 31st. Corner 2nd Avenue Crescent Park Bonifacio City, Fort Bonifacio, City Of Taguig

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

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

TRAN PHAN DIEM TRINH Vietnamese Customer Service Representative

Wednesday, May 25, 2022

94.

95.

Brief Job Description: Managing incoming calls and customer service inquiries. BE XUAN TRUONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries BIEN DANG VUONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries CHU THI CHI Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DO VAN NHAT Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DUONG BICH THUY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HA THI HAU Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HO THE VU Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HO THI KIM CHI Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HOANG THI THU HONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HOANG VAN ANH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LE SY HAI Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LE THI LINH GIANG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

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

BusinessMirror

Wednesday, May 25, 2022

A6 A8

ESTABLISHMENT / ADDRESS No.

96.

97.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LE VU ANH KHOA Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires MAI THI THANH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NGO THI SUU Vietnamese Customer Service Representative

98.

Brief Job Description: Managing incoming calls and customer service inquiries. NGO TRI LOC Vietnamese Customer Service Representative

99.

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

100.

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

101.

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

102.

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

103.

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

104.

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

105.

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

106.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

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

116.

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

117.

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

118.

107.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems. WILBERT Indonesian Customer Service Representative

108.

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

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

119.

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

120.

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

121.

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

122.

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

109.

110.

Brief Job Description: Customer support and data base services

JEONG, DAWOON Korean Customer Service Brief Job Description: Customer support and data base services

KANG, HYEON Korean Customer Service 111.

112.

113.

114.

115.

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

LEE, SANGHOON Korean Customer Service Brief Job Description: Customer support and data base services

MIN, HYUNJOON Korean Customer Service Brief Job Description: Customer support and data base services

CALEB SONG HUA YUE Malaysian Customer Service Brief Job Description: Customer support and data base services

KEK LIU SHENG Malaysian Customer Service Brief Job Description: Customer support and data base services

Brief Job Description: Customer support and data base services

LIM PEI LENG Malaysian Customer Service Brief Job Description: Customer support and data base services

TAN YONG SHENG Malaysian Customer Service Brief Job Description: Customer support and data base services

123.

WEE XIN HAU Malaysian Customer Service Brief Job Description: Customer support and data base services

AR LU Myanmari Customer Service Brief Job Description: Customer support and data base services

KHIN MYINT LAY Myanmari Customer Service Brief Job Description: Customer support and data base services.

KYAWT KYAWT SAN Myanmari Customer Service Brief Job Description: Customer support and data base services

SOE MYINT Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

124.

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

Basic Qualification: Graduate 4 years bachelor degree with critical thinking and problem solving skills.

125.

WAN KYIN FU Myanmari Customer Service Brief Job Description: Customer support and data base services

YAN KYINE PHA Myanmari Customer Service Brief Job Description: Customer support and data base services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate 4 years bachelor degree with critical thinking and problem solving skills.

126.

YE WIN AUNG Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f, Pearl Marina Building Pacific Drive, Don Galo, City Of Parañaque JEMY Indonesian Customer Service

KHOO CHIA YI Malaysian Customer Service

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

127.

KANJANATHANASETH, CHINAKRIT Thai Customer Service Brief Job Description: Customer support and data base services BUI MY HANH Vietnamese Customer Service

128.

129.

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

CU NGOC LE Vietnamese Customer Service Brief Job Description: Customer support and data base services

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

130.

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

131.

132.

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

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

Brief Job Description: Customer support and data base services

DAO SY HUNG Vietnamese Customer Service

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

CU NGOC LINH Vietnamese Customer Service

133.

134.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

DIEP HA TRANG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

DINH MINH HIEU Vietnamese Customer Service Brief Job Description: Customer support and data base services.

DINH VAN DA Vietnamese Customer Service Brief Job Description: Customer support and data base services

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

No.

135.

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

136.

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

137.

138.

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

DOAN HOANG DEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

DUONG VAN HON Vietnamese Customer Service Brief Job Description: Customer support and data base services GIANG PO THU Vietnamese Customer Service

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills HA VAN TOAN Vietnamese Customer Service Brief Job Description: Customer support and data base services HO THI DINH Vietnamese Customer Service

139.

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

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

140.

HOANG HONG NHUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services

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

HOANG THI HUYEN Vietnamese Customer Service 141.

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

142.

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

143.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills HOANG THI TOAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

144.

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

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

145.

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

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

146.

HUA THI BIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

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

147.

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

148.

149.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English)

150.

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

151.

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

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

Brief Job Description: Customer support and data base services

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

LE CONG MINH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LO CUI QUYNH Vietnamese Customer Service Brief Job Description: Customer support and data base services

LU SAN LUU Vietnamese Customer Service Brief Job Description: Customer support and data base services

LUU CONG DUNG Vietnamese Customer Service 152.

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

LAI THANH TUNG Vietnamese Customer Service

LAU NHUC VAY Vietnamese Customer Service

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

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

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

QUALIFICATION AND SALARY RANGE

153.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

MA THI HA Vietnamese Customer Service Brief Job Description: Customer support and data base services

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: `College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

154.

155.

156.

157.

158.

159.

160.

161.

162.

163.

164.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN CHI SON Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN CONG TAI Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN DINH CHI Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN HUYNH TIEN PHUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN LE THU THUY Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN LINH TRANG Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN NGOC THAO TRANG Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN PHI KO Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN QUYET TIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN THI DUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

NGUYEN THI MAI Vietnamese Customer Service 165.

166.

167.

168.

169.

170.

171.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

NGUYEN THI NU Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

NGUYEN TUAN VU Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHAM ANH TUAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHAM THI LAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHAM VAN MINH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

No.

172.

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

PO DIN TAM Vietnamese Customer Service 173.

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

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

174.

175.

Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

176.

177.

178.

179.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

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

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills VI THI SU Vietnamese Customer Service Brief Job Description: Customer support and data base services

VUONG THI THUAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

LIANG, HAO-TIAN Chinese Customer Service Representative 180.

Brief Job Description: To respond to customers concerns on site and supply solutions to their concerns

VIG, VARUN Vice President-general Management

181.

Brief Job Description: Plans, implements, and execute strategies or functional/operational objectives for clinical, optum360, and optumrx business of optum global solutions; management and administration of multiple functions, or management of general business operations. Manage the p&l of a business or part of a business unit.

NISHIOKA, JURI Japanese Coordinator Cum Interpreter 182.

Brief Job Description: Answer the telephone in a courteous and professional manner. Receive and convey messages in writing, verbally and electronically/ e-mails. Prioritize patients according to urgency of condition.

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

188.

189.

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

ZHANG, XIAOQIU Chinese Cargo Office Agent 183.

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

Brief Job Description: Ensure standard designs, implement technical specifications

185.

CHEK, DENIS Supply Chain Manager Brief Job Description: Oversee Purchasing, Responsible For Inventory

MUHONJA, CATHERINE KEDENGE WHSE Manager 186.

Brief Job Description: Conduct safety meetings, implements environmental safety

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

190.

Basic Qualification: Proficient in speaking, reading and writing in Chinese

191.

187.

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments

Brief Job Description: Responsible for inbound and outbound service calls

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

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

SONG, WOOHO Korean Marketing Manager 192.

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

Basic Qualification: College graduate, fluent in English, preferably 6mos1year customer service experience

Brief Job Description: Must be knowledgeable of the Korean market, behavior, apply strategies, programs to the Philippines settings

ZHENG, FUSHUN Project Coordinator 193.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in English, preferably 6mos1year customer service experience Salary Range: Php 30,000 - Php 59,999

Basic Qualification: A Native Speaker of the Burmese Language (Spoken and Written) Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: Graduate of bachelor degree, must be fluent English and Korean language Salary Range: Php 60,000 - Php 89,999

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager.

Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills. Salary Range: Php 30,000 - Php 59,999

TELEPHILIPPINES INCORPORATED Edsa Central It Center 2, United Street Corner Edsa, Greenfield District, City Of Mandaluyong

HEMMINGER, JASON Senior Manager, Curriculum Developer Brief Job Description: Designs and develops instructional materials for training courses that support employee competency development. Demonstrates & utilizes effective learning needs analysis, project management, course development & evaluation skills.

Basic Qualification: Can independently develop entry and advanced level courses for all leadership levels. Has the ability to utilize multimedia technology and authoring tools. Excellent training skills and strong grasp of adult learning principle. Salary Range: Php 90,000 - Php 149,999

TIAN XIA TECHNOLOGIES INTERNATIONAL, INC. Bldg. B Filinvest Cyberzone 6, Bay City, Barangay 76, Pasay City Basic Qualification: - At least 19y/old - Ability to speak write and communicate in Vietnamese

HSIEH, YI-WEN Chinese Marketing Specialist 195.

Brief Job Description: Conduct market research; brainstorm and develop ideas for creative marketing campaign; assist in outbound and inbound marketing activities

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

TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati AW CHI SUN Mandarin Field Marketing Officer 196.

Brief Job Description: Define region-specific marketing plan that supports the regional sales strategy. WANG, CHENG-EN Mandarin Field Marketing Officer

197.

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

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

VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. 1439 Adriatico Cor. Sta. Monica St., 072, Barangay 669, Ermita, City Of Manila

198.

KANG, DONGWON It Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999

WANFANG TECHNOLOGY MANAGEMENT, INC. 6-9/f Double Dragon Plaza, Edsa Cor. Macapagal Ave., Barangay 76, Pasay City NGUYEN THI HANH Vietnamese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in English, preferably 6mos1year customer service experience

Basic Qualification: Fluent in Vietnamese (Verbal and written skills)

STC BUILDERS AND DEVELOPMENT CORP. 38 Atok St., 1, Santo Domingo, Quezon City

Basic Qualification: Senior leader with 20+ years of experience with global service delivery management and program.

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

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

STAR-FINDER OPTICS CORP. 2/l Style Boulevard, Space 2123 & 2125 Festival Supermall, Alabang, City Of Muntinlupa

194.

Basic Qualification: College graduate; Must be fluent in English and Nihongo; Has resided in Japan for at least three years

Basic Qualification: A Native Speaker of the Thai Language (Spoken and Written)

Basic Qualification: Excellent in reading, writing and speaking in mandarin

CHIENG HOING HEE Mandarin Speaking Customer Service

LE PHAM MIEN TRINH Vietnamese Customer Service Representative

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

Salary Range: Php 500,000 and above

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

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

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

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati HLA YAMIN NWE Burmese-language Customer Support Staff

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment

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

PHIL-TOWER CONSORTIUM INC. Unit S-08 Eco Tower Bldg., 32nd St. Cor. 9th Ave., Bgc, Fort Bonifacio, City Of Taguig

184.

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment

Basic Qualification: A Native Speaker of the Thai Language (Spoken and Written)

SEAGULL-WORLD INC. Unit 2807 28/f Cityland, Pasong Tamo Tower, 2210 Chino Roces Ave., Pio Del Pilar, City Of Makati

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

HIDAYATTULLAH CME Manager

QUALIFICATION AND SALARY RANGE

WATCHARIT, WATCHAREE Thai-language Customer Support Staff

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

Basic Qualification: Customer support and data base services

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION SAMUTHSAKORN, TANASIT Thai-language Customer Support Staff

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

OWG PHILIPPINES INC. Unit 1201, High Street South Corporate Plaza Tower 1, St. Cor. 9th Ave., Fort Bonifacio, City Of Taguig

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

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

No.

OPTUM GLOBAL SOLUTIONS (PHILIPPINES), INC. 6th To 10th Floors, Science Hub Tower 1, Mckinley Hill, Fort Bonifacio, City Of Taguig

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

Brief Job Description: Customer support and data base services

QUALIFICATION AND SALARY RANGE

NEW WEATHER FORCES GROUP INC. 26/f The Enterprise Center Tower 2, 6766 Ayala Ave., San Lorenzo, City Of Makati

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

TRAN THI GIANG Vietnamese Customer Service

TRAN XUAN CUONG Vietnamese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

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

TRAN THI THUY Vietnamese Customer Service

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

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills TRAN LOC DUNG Vietnamese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

Brief Job Description: Customer support and data base services

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION PHAN THI BICH NGOC Vietnamese Customer Service

Wednesday, May 25, 2022

199.

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

Basic Qualification: Proficient in speaking, reading and writing in Chinese Mandarin, English and their respective native language Salary Range: Php 30,000 - Php 59,999

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati

200.

LIU, WENPING Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

Basic Qualification: Excellent in Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999 *Date Generated: May 24, 2022

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

TheWorld BusinessMirror

A10 Wednesday, May 25, 2022

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

Leaders navigating ‘dark hour’ after Ukraine invasion–Biden By Josh Boak & Aamer Madhani

The Associated Press

OKYO—President Joe Biden told fellow Indo-Pacific leaders assembled for a four-country summit Tuesday that they were navigating “a dark hour in our shared history” due to Russia’s brutal war on Ukraine and he urged the group to make greater effort to stop Vladimir Putin’s aggression.

From left, Australian Prime Minister Anthony Albanese, US President Joe Biden, Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi attend the Japan-USAustralia-India Fellowship Founding Celebration event in Tokyo on Tuesday, May 24, 2022. Yuichi Yamazaki/Pool Photo via AP

“This is more than just a European issue. It’s a global issue,” Biden said as the “Quad” summit with Japan, Australia and India got under way. While the president did not directly call out any countries, his message appeared to be pointed, at least in part, at Indian Prime Minister Narendra Modi, with whom differences persist over how to respond to the Russian invasion. Unlike other Quad countries and nearly every other US ally, India has not imposed sanctions or even condemned Russia, its biggest supplier of military hardware. With Modi sitting nearby, Biden made the case that the world has a shared responsibility to do something to assist Ukrainian resistance against Russia’s aggression. “We’re navigating a dark hour in our shared history,” he said. “The Russian brutal and unprovoked war against Ukraine has triggered a humanitarian catastrophe and innocent civilians have been killed in the streets and millions of refugees are internally displaced as

well as in exile.” “The world has to deal with it and we are,” he added. The White House has been effusive in its praise of several Pacific countries, including Japan, Singapore and South Korea, for stepping up to hit Russia with tough sanctions and export bans while offering humanitarian and military assistance to Kyiv. For several of the bigger Asian powers, the invasion has been seen as a crucial moment for the world to demonstrate by a strong response to Russia that China should not try to seize contested territory through military action. Japanese Prime Minister Fumio Kishida, taking note of Russia’s aggression in Ukraine, told the other leaders: “We cannot let the same thing happen in the IndoPacific region.” The W hite House has been disappointed with the relative silence of India, the world’s biggest democracy. Biden has asked Modi not to accelerate the buying of Russian oil

as the US and other allies look to squeeze Moscow’s energy income. The Indian prime minister made no public commitment to get off from Russian oil, and Biden has publicly referred to India as “somewhat shaky” in its response to the invasion. Facing Western pressure, India has condemned civilian deaths in Ukraine and called for an immediate cessation of hostilities. Yet it also has compounded fallout from a war that has caused a global food shortage by banning wheat exports at a time when starvation is a growing risk in parts of the world. The Indian prime minister did not address Russia’s war against Ukraine in his public remarks at the summit. Biden has been making his case to Modi for weeks. The two spoke about the Russian invasion during a virtual Quad leaders’ meeting in March, and last month they had a short video conversation when Secretary of State Antony Blinken and Defense Secretary Lloyd Austin met with their Indian counterparts in Washington. “So it won’t be a new conversation,” White House national security adviser Jake Sullivan said ahead of the summit. “It will be a continuation of the conversation they’ve already had about how we see the picture in Ukraine and the impacts of Russia’s brutal invasion of Ukraine on a wider set of concerns in the world.” While Biden and Modi may avoid public confrontation over how to respond to Russia’s aggression, the issue remains a major one as the US and allies are looking to tighten the pressure on Putin, said Michael Green, senior vice president for Asia at the Center for Strategic and International Studies in Washington. “It appears pretty clear the Biden administration is not looking for trouble with India and that most of these difficult conversations will be in private,” said Green, who was a senior National Security Council aide during the George W. Bush administration. The summit came on the final day of Biden’s five-day visit to Japan and South Korea, Biden’s first trip to Asia as president. It also marked new Australian Prime Minister Anthony Albanese’s first moment on the global stage. The new premier flew to Tokyo on Monday right after being sworn into office. The centerleft Labor Party defeated Prime Minister Scott Morrison over the

weekend, ending the conservative leader’s nine-year rule Biden, Modi and Kishida welcomed A lbanese to the club and expressed awe at his determination to join the informal security coalition so quickly after assuming office. “I don’t know how you’re doing it,” Biden, who looked a bit worn from his own travel, told Albanese. The US president joked that it would be OK if the new prime minister happened to fall sleep during the meeting. Biden was to meet separately with Albanese and with Modi after the Quad meeting. The four-way partnership has become increasingly relevant as Biden has moved to adjust US foreign policy to put greater focus on the region and to counter China’s rise as an economic and security power. He held bilateral talks with summit host Kishida on Monday. Albanese told his fellow Quad leaders he was dedicated to the group’s mission to maintain a free and open Indo-Pacific. “We have had a change of government in Australia, but Australia’s commitment to the Quad has not changed and will not change,” Albanese said. Looming over the Quad leaders’ talks was Biden’s blunt statement on Monday that the US would intervene militarily if China were to invade Taiwan, saying the burden to protect Taiwan is “even stronger” after Russia’s invasion of Ukraine. The White House insists that Biden’s unusually forceful comments about Taiwan did not amount to a shift in US policy toward the self-ruled island that China claims as its own. Asked by the reporters at the summit on Tuesday if his comments on Taiwan a day earlier were meant to mark a policy change, Biden simply replied, “No.” Some modest initiatives were announced by the Quad leaders, including a new effort to provide pediatric Covid-19 vaccines to countries most in need and a program to help nations improve security and environmental awareness of their territorial waters. The Quad last year pledged to donate 1.2 billion vaccine doses globally. So far, the group has provided about 257 million doses, according to the Biden administration.

The Associated Press writers Zeke Miller in Washington, Mari Yamaguchi in Tokyo and Ashok Sharma in New Delhi contributed.

Food protectionism spreads; Malaysia bans poultry export

alaysia’s government met with the country’s biggest poultry producers to discuss subsidies and ensure continuity of local supply as the nation moved to ban exports of chicken in the latest act of food protectionism. The Minister of Agriculture and Food Industries met 12 producers and livestock groups including Leong Hup Poultry Farm Sdn., HLRB Broiler Farm Sdn., PWF Corporation Bhd., and the Federation of Livestock Farmers’ Association of Malaysia on Monday, following a Cabinet meeting that discussed the ban. Malaysia will halt exports of 3.6 million chickens a month from June 1, and investigate allegations of cartel pricing, Prime Minister Ismail Sabri Yaakob said Monday. The move is likely to hit Singapore, which sources a third of its supply from Malaysia, as well as in Thailand, Brunei, Japan and Hong Kong. The ban is the latest in a series of government measures aimed at easing domestic prices as nations around the world

battle rising food costs, partly driven by the war in Ukraine crimping food supplies. Indonesia recently temporarily banned palm oil exports, India restricted wheat exports, and Serbia and Kazakhstan have imposed quotas on grain shipments. The Singapore Food Agency said the restriction may result in temporary disruptions to the supply of chilled chicken, and urged consumers to be open to switching to frozen chicken or other meat products. About 34 percent of Singapore’s chicken imports were from Malaysia last year, it said, with almost all imported as live chickens and slaughtered and chilled in the city-state. “If the disruption to chicken supply is temporary, then it may be manageable,” said Selena Ling, head of Treasury Research & Strategy at OCBC Bank in Singapore. “But if it’s persistent and more worryingly, reflective of more protectionist measures by other countries over food security and inflation concerns, then this could be a lose-lose scenario for everyone.”

Chicken cartels

The Malaysia Competition Commission is investigating reports that there are cartels that control the price and output of chicken among large companies, Ismail said, promising stern action against any firms found sabotaging supply. “If it’s true these cartels exist, we will take legal action against them,” he said. State news agency Bernama reported that there was a shortage of poultry locally as cartels had planned to stop farm operations over the weekend. Last week Ismail abolished the approved permit rules for imports of some food items including chicken, cabbage and evaporated milk to secure adequate food supplies in the country. Malaysia imports about 60 percent of its food needs, and has been impacted by higher import prices as well as the weakening ringgit. Malaysia’s food inflation is set to continue in the coming months amid elevated global commodity prices, domestic supply chain disruptions and depreciation of the local

currency, researchers at MIDF Amanah Investment Bank wrote in a note Monday. The country is highly exposed to global shocks in the food supply chain given its status as a net food importer, it said. Agriculture and Food Industry Minister Ronald Kiandee said the ban on chicken exports will be reviewed once supply and prices stabilize. Every country is taking similar measures to fulfill their own needs, he said on the sidelines of a ministry event. “We’re not looking at any other commodity for similar export restrictions for the time being.” Malaysia is the No. 2 producer of palm oil. Farmers are already struggling with reduced weight gain among their chickens on account of the quality of their feed, as well as diseases and extremely hot weather, according to the agriculture ministry. “This has affected the supply of chicken in certain areas,” it said in a statement Sunday. In 2020, Malaysia exported poultry meat worth $18.9 million, making it the 49th largest exporter of the product in the world.

Bloomberg News

Homeless people sleep in the shade of an over-bridge to beat the heat wave in New Delhi on Friday, May 20, 2022. The intense heat wave sweeping through South Asia was made more likely due to climate change and it is a sign of things to come. An analysis by international scientists said that this heat wave was made 30-times more likely because of climate change, and future warming would make heat waves more common and hotter in the future. AP/Manish Swarup

South Asia’s intense heat wave ‘a glimpse of the region’s future’ By Aniruddha Ghosal AP Science Writer

EW DELHI—The devastating heat wave that has baked India and Pakistan in recent months was made more likely by climate change and is a glimpse of the region’s future, international scientists said in a study released Monday. The World Weather Attribution group analyzed historical weather data that suggested early, long heat waves that impact a massive geographical area are rare, once-a-century events. But the current level of global warming, caused by human-caused climate change, has made those heat waves 30 times more likely. If global heating increases to 2 degrees Celsius (3.6 degrees Fahrenheit) more than pre-industrial levels, then heat waves like this could occur twice in a century and up to once every five years, said Arpita Mondal, a climate scientist at the Indian Institute of Technology in Mumbai, who was part of the study. “This is a sign of things to come,” Mondal said. The results are conservative: An analysis published last week by the United Kingdom’s Meteorological Office said the heat wave was probably made 100 times more likely by climate change, with such scorching temperatures likely to reoccur every three years. The World Weather Attribution analysis is different as it is trying to calculate how specific aspects of the heat wave, such as the length and the region impacted, were made more likely by global warming. “The real result is probably somewhere between ours and the (UK) Met Office result for how much climate change increased this event,” said Friederike Otto, a climate scientist at the Imperial College of London, who was also a part of the study. What is certain, though, is the devastation the heat wave has wreaked. Indian cities and Pakistan consistently saw temperatures above 45C (113F) in the past weeks. In Pakistan, scorching temperatures over 50C (122F) were recorded in some places like Jacobabad and Dadu. Parts of the Indian capital New Delhi saw temperatures reaching 49C (120F) this month. India sweltered through the hottest March in the country since records began in 1901 and April was the warmest on record in Pakistan and parts of India. The effects have been cascading and widespread: A glacier burst in Pakistan, sending floods downstream; the early heat scorched wheat crops in India, forcing it to ban exports to nations reeling from food shortages due to Russia’s war in Ukraine; it also resulted in an early spike in electricity demand in India that depleted coal reserves, resulting in acute power shortages affecting millions. Then there is the impact on human health. At least 90 people have died in the two nations, but the region’s insufficient death registration means that this is likely an undercount. South Asia is the most affected by heat stress, according to an analysis by The Associated Press of a dataset published Columbia University’s climate school. India alone is home to more than a third of the world’s population that lives in areas where extreme heat is rising. Experts agree the heat wave underscores the need for the world to not just combat climate change by cutting down greenhouse gas emissions, but to also adapt to its harmful impacts as quickly as possible. Children and the elderly are most at risk from heat stress, but its impact is also inordinately bigger for the poor who may not have access to cooling or water and often live in crowded slums that are hotter than leafier, wealthier neighborhoods. Rahman Ali, 42, a ragpicker in an eastern suburb of the Indian capital New Delhi earns less than $3 a day by collecting waste from people’s homes and sorting it to salvage whatever can be sold. It’s backbreaking work and his tin-roofed home in the crowded slum offers little respite from the heat. “What can we do? If I don’t work...we won’t eat,” said the father of two. Some Indian cities have tried to find solutions. The western city of Ahmedabad was the first in South Asia to design a heat wave plan for its population of over 8.4 million, all the way back in 2013. The plan includes an early warning system that tells health workers and residents to prepare for heat waves, empowers administrations to keep parks open so that people can shade and provides information to schools so they’re able to tweak their schedules. The city has also been trying to “cool” roofs by experimenting with various materials absorb heat differently. Their aim is to build roofs that’ll reflect the sun and bring down indoor temperatures by using white, reflective paint or cheaper materials like dried grass, said Dr. Dileep Mavalankar, who heads the Indian Institute of Public Health in western Indian city Gandhinagar and helped design the 2013 plan. Most Indian cities are less prepared and India’s federal government is now working with 130 cities in 23 heat wave-prone states for them to develop similar plans. Earlier this month, the federal government also asked states to sensitize health workers on managing heat-related illnesses and ensure that ice packs, oral rehydration salts, and cooling appliances in hospitals were available. But Mavalankar, who wasn’t part of the study, pointed to the lack of government warnings in newspapers or TV for most Indian cities and said that local administrations had just not “woken up to the heat.”

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Wednesday, May 25, 2022 A11

China’s bet on homegrown mRNA Covid vaccines holds back nation By Huizhong Wu & Aniruddha Ghosal The Associated Press

AIPEI, Taiwan—China is trying to navigate its biggest coronavirus outbreak without a tool it could have adopted many months ago, the kind of vaccines that have proven to offer the best protection against the worst outcomes from Covid-19. As early as the spring of 2020 a Chinese pharmaceutical company, Fosun Pharma, reached an agreement to distribute—and eventually manufacture—the mRNA vaccine made by Pfizer and BioNTech. It still has not

been cleared in mainland China, despite being authorized for use by separate authorities in Hong Kong and Macao. Now health experts say that delay—a result of putting politics and national pride above public health—could lead to avoidable coronavirus deaths and deeper economic losses because whole cities would be locked down to insulate the country’s unprotected population. “The biggest issue is about the delay of the reopening,” said Xi Chen, a health economist at Yale University’s School of Public Health. “The consequences will be huge, the supply chain disruption, the disruption to all kinds of service sectors.”

Studies have consistently shown that vaccination with mRNA vaccines made by Pfizer-BioNTech and Moderna offer the best protection against hospitalization and death from Covid-19. Chinese vaccines made with older technology proved fairly effective against the original strain of the virus, but much less so against more recent variants. As this evidence became clearer, even countries that initially used Chinese vaccines and some other less effective Western-made vaccines have turned to mRNA vaccines for booster shots and new vaccinations. Not China. Regulators have not publicly said why they have not acted—the mRNA vaccines are authorized in much of the world

and have proven safe and effective in hundreds of millions of people. But a Chinese health official and another person directly involved in the negotiations told The Associated Press that authorities have held back because they want to master the technology in China and not depend on foreign suppliers. Both spoke on condition of anonymity, given the sensitive nature of the issue. For more than a year, the approach seemed defensible. The country was able to keep the virus at bay better than any other large nation with its strict “zero Covid” approach that isolates infected people and locks down communities when infections pop up. But now, the highly transmissible

omicron variant is testing that strategy, requiring ever wider and longer lockdowns that are taking a greater economic and human toll. While other countries are able to operate close to normal because their people are protected by vaccination or previous infection, China is left with only its lockdown strategy to avoid huge numbers of hospitalizations and deaths. China may be changing its mind. The Communist Party-owned Global Times newspaper reported last month that Fosun Pharma is still working with health authorities on its approval and Shanghai authorities recently issued new policies that could allow the import of Covid-19 vaccines.

Fosun, based in Shanghai, did not respond to questions about the announcement. China’s National Health Commission directed questions to the country’s drug regulator, the National Medical Products Administration. That agency did not respond to a faxed request for comment. In the meantime, hopes for a Chinesedeveloped mRNA vaccine center on Abogen Biosciences, a startup founded in 2019 by Bo Ying, an American-trained scientist who once worked for Moderna. Ghosal reported from New Delhi. The Associated Press journalist Dake Kang in Beijing contributed to this report.

A12 Wednesday, May 25, 2022 • Editor: Angel R. Calso

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editorial

PHL needs to push agricultural R&D

ice-eating nations like the Philippines are expected to increase their consumption of the staple in light of the spike in wheat prices. In a recently released report, the United States Department of Agriculture (USDA) projected that demand for rice in the Philippines would continue to rise amid the ongoing conflict in Eastern Europe. Because of this, the country is expected to retain its status as the world’s second largest importer of the staple, behind China, which is expected to import more than 6 million tons of rice (See “PHL to import more rice as output to stay flat,” in the BusinessMirror, May 16, 2022). Despite the expected increase in demand, local production would still not be able to meet the rice requirements of Filipinos. Even before the invasion of Ukraine, the government pegged the rice selfsufficiency level of the Philippines at 89 percent, which means it would have to buy from other countries more than 10 percent of its requirements. The conflict in Eastern Europe is expected to further exacerbate the supply situation in many parts of the world due to the spike in fertilizer prices, which could dent the country’s rice output. The spike in fertilizer prices was cited as one of the factors that will pull down rice output next year. Fertilizer is a key production input that helps increase yields of crops, including rice. The price of the input has made it inaccessible to a number of farmers, such that it has caused them to rethink their planting intentions, as betting on the grain could make them lose money. In line with the campaign promise of presumptive president Ferdinand “Bongbong” Marcos Jr. to bring down the price of rice if he wins, the incoming administration would do well to put in place the necessary measures to raise the country’s rice self-sufficiency level. While global stocks remain ample, according to the Food and Agriculture Organization, the uncertainty caused by the war in Eastern Europe could drive up prices and result in price shocks. Officials of the incoming administration would do well to remember the lessons of the 2008 food crisis. Increasing investments in research and development (R&D) cannot be emphasized enough given the threat posed by erratic weather patterns. The incoming administration can’t err on making good another campaign promise of investing more in R&D, especially in agriculture. The Philippines has what it takes to take the lead in developing technological innovations that could help ensure food supply amid the adverse effects of the war in Ukraine and climate change. Investments in R&D would pave the way for the country to realize its potential. The Philippines is not starting from scratch as it has the Rice Competitiveness Enhancement Fund, which consists of tariffs collected from importers. However, the RCEF and other excess funds should be augmented to increase spending on R&D. We need to develop better rice varieties, and also improve mechanization, which is a crucial input for agricultural crop production. Changes in climate, pests, weeds, disease and increased carbon dioxide will reduce global food production. Crop yields are seen declining because of global warming. The business as usual practice in agencies responsible for food production is no longer acceptable amid the formidable challenge of feeding more than a hundred million Filipinos. Since 2005

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Dennis Gorecho

Legal Bytes

ven if the marriage is declared void, the obligation to give support to a minor child subsists. This was the ruling of the Supreme Court in the case of Wilfredo Ruiz v. AAA (GR 231619 November 15, 2021) that involves a case filed under the Anti-Violence Against Women and their Children Act (VAWC), or Republic Act 9262. Enacted in 2004, RA 9262 is a landmark legislation that defines and criminalizes acts of violence against women and their children perpetrated by women’s intimate partners, i.e., husband, former husband, or any person who has or had a sexual or dating relationship, or with whom the woman has a common child, or against her child whether legitimate or illegitimate, within or without the family abode, which result in or is likely to result in, among others, economic abuse. Under the VAWC, the grant of support and all other reliefs in a permanent protection order prevents further acts of violence against the victim, safeguards them from harm, minimizes disruptions in their life, and helps regain control over their life. The scope of reliefs in protection orders is broadened to ensure that the victim or offended party is af-

forded all the remedies necessary to curtail access by a perpetrator to the victim. This serves to safeguard the victim from greater risk of violence; to accord the victim and any designated family or household member safety in the family residence, and to prevent the perpetrator from committing acts that jeopardize the employment and support of the victim. It also enables the court to award temporary custody of minor children to protect the children from violence, to prevent their abduction by the perpetrator and to ensure their financial support. After due hearings, the lower court in the instant VAWC case issued an order directing the husband to provide support to the victim and their child, if still studying and unemployed equivalent to 50 percent of the income or salaries from the law offices and consultancy firm.

The victim may still be entitled to the other reliefs even if she is no longer the legal wife, because the determining factor in the grant of the relief is whether the offended party was subjected to physical, sexual, psychological, or economic abuse. The decision became final and executory since he did not appeal. As a general rule, a judgment for support is never final in the sense that not only can its amount be subject to increase or decrease but its demandability may also be suspended or re-enforced when appropriate circumstances exist. The Court notes that most of the reliefs does not depend on whether a marriage between the parties subsists. The victim may still be entitled to the other reliefs even if she is no longer the legal wife, because the determining factor in the grant of the relief is whether the offended party was subjected to physical, sexual, psychological, or economic abuse. As a form of psychological violence, coercive control pertains to a “pattern of behavior meant to dominate a partner through different tactics such as physical and sexual violence, threats, emotional insults, and economic deprivation.” In relationships where coercive control exists, dominant partners do things that help them exert longterm power and control over their

partners, such as isolating them from society, manipulating their children, using their male privilege, or employing economic abuse. Despite the issuance of the decision, it cannot be assumed that the victim is already living in peace and free from the infliction of harm against her. The Court noted that there is the possibility the harm the husband committed against the wife has not ceased when he filed the adultery case against the victim and continues to work with his mistress to harass her. The court also ruled that the wife shall no longer be entitled to legal support from the time of the finality of the decision declaring her marriage with the husband void. The marriage having been declared void, they are no longer obliged to give spousal support to each other. However, his obligation to provide support to his minor child does not cease even if care and custody are no longer with the victim. Parents are primarily responsible for the support of their children as the latter’s closest relatives, keeping in mind the principle that “the closer the relationship of the relatives, the stronger the tie that binds them. As the father, he still has the obligation to support the child, if still studying and unemployed. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

Search for Supreme Court leaker falls to former Army colonel

T. Anthony C. Cabangon

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VAWC and child support

By Jessica Gresko | The Associated Press

ASHINGTON—When Gail Curley began her job as Marshal of the US Supreme Court less than a year ago, she would have expected to work mostly behind the scenes: overseeing the court’s police force and the operations of the marblecolumned building where the justices work.

Her most public role was supposed to be in the courtroom, where the Marshal bangs a gavel and announces the entrance of the court’s nine justices. Her brief script includes “Oyez! Oyez! Oyez!” — meaning “hear ye” — and concludes, “God save the United States and this Honorable Court.” Earlier this month, however, Curley was handed a bombshell of an assignment, overseeing an unprecedented breach of Supreme Court secrecy, the leak of a draft opinion and apparent votes in a major abortion case. Leaks to Politico suggest that the court seems ready to overturn Roe v. Wade, the 1973 decision that women have a constitutional right to abortion. That has sparked protests and round-the-clock security at justices’ homes, demonstrations at the court and concerns about vio-

lence following the court’s ultimate decision. People who know Curley described the former Army colonel and military lawyer as possessing the right temperament for a highly charged leak investigation: smart, private, apolitical and unlikely to be intimidated. “I’m confident that if the truth can be found out here, she’ll find it out and present it in an unbiased manner,” said retired Army Brig. Gen. Patrick Huston, her direct supervisor at the Pentagon in her last military job before the Supreme Court. Huston said he was incredibly impressed by Curley and that she had a tremendous reputation as a leader, but even as her boss of two years he didn’t know if she had a spouse or children. Through a court spokeswom-

People who know Curley described the former Army colonel and military lawyer as possessing the right temperament for a highly charged leak investigation: smart, private, apolitical and unlikely to be intimidated. an, Curley declined an interview request. She is the court’s 11th Marshal and the second woman to hold the post. She is also in some ways constrained in her investigation by her position, which was created just after the Civil War, in 1867. Experts say leaking the draft opinion likely wasn’t a crime, and Curley’s investigative tools are limited. She could theoretically hire an outside law firm to assist, and in other judicial records cases the FBI has been called in. But it isn’t clear if she or others have the power to issue subpoenas to get material from journalists or the fewer than 100 people in the court—including justices—with access to a draft opinion. The investigation doesn’t appear

to have any real precedent. In 1973 the outcome in the Roe case leaked several hours ahead of its announcement. The chief justice at the time was furious and threatened lie detector tests, but the leaker quickly came forward and explained it had been an accident. Even if the circumstances are different, overseeing an investigation isn’t new to Curley. In her military career she routinely oversaw a dozen or more criminal and administrative investigations and supervised large numbers of attorneys and paralegals, Huston said. She was an authority on international law and laws surrounding armed conflict, but the investigations she oversaw throughout her career could range broadly, from criminal matters involving service members to contract issues. Huston described her as “not the sort of person who would ever be intimidated by anything.” Curley began her military career at West Point, where just under 10% of her 1991 graduating class was women. Lisa Freidel, a member of the same 25-member company as Curley, See “Search,” A13

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Senate honors Susan Roces: ‘A reachable star’

he Senate adopted on Monday three resolutions (Senate Resolution Nos. 1002, 1004, 1005) expressing their profound sympathy and sincerest condolences on the death of Jesusa Sonora Poe, popularly known as Susan Roces, who passed away on May 20, 2022 at the age of 80. Here’s the sponsorship speech of Senate President Pro Tempore Ralph G. Recto. Mr. President, my dear colleagues: A colleague has lost her mother, the people an icon, and the nation is all the more poorer for it. Seventy years ago, a lissome lass from Bacolod, radiant in looks and refined in manners, charmed the country in her film debut. The title of Susan Roces’s first movie would later come to define the theme of her life: Mga Bituin ng Kinabukasan. For 80 years her star shone bright, her performances illuminating the traits which make us great, as well as the foibles that prevent us from being so. For many young women, in tinseltown or out, she was the proverbial star in the sky one cannot touch, but by following it would lead you to your destination. But, no, she was a reachable star, always displaying the true mark of class: by treating kindly and with dignity the people who work for her and with her. She was also a profile of courage off the screen, displaying it not once…not twice…but many times. She may not have rushed the barricades in real life, as her husband would in reel, but her heroism was of the daily, routinary acts of compassion to her fellowmen and respecting the rules which make our democracy strong and our society kind. She paid her taxes. She queued like any citizen of the Republika ng Pila-pinas. She never felt entitled. What she felt obliged to do, though, was help those whom society has left out or left behind. As an artist, she practiced her craft in front of the camera, allowing it to capture her full genius. But as a person, she did charitable acts, without the need for one. She practiced altruism without Instagram. She never scrimped on advice and gratitude, in notes penned in the

elegant cursive which her daughter has inherited, so that when news of her demise spread, these were shared by recipients, proving that the most valuable help is not always monetary in kind, but sometimes motherly advice. But of all the love and kindness she had shown in 80 fully lived years, none is perhaps greater than her decision to become a mother. It has been said that there is an instinct in a woman to love most her own child—but Susan Roces had a greater instinct to make any child who needs her love, her own. Senator Grace once poignantly said, “I firmly believe that adopting one child may not change the world, but it will certainly change the world for that child.” No, Grace, let me amend your statement. Your mom’s courageous and compassionate act 54 summers ago did change our world, because that child continues to make our world better. So it came to pass that Susan Roces became a muse to her husband—but the role which perhaps gave her the greatest satisfaction, but no Famas award, was that of being a mother to their child. In 70 years in the public spotlight, Susan Roces’s star never dimmed. She essayed roles from the Pinay Everywoman who henpecked her husband to the Pinay Extraordinary Woman who hectored her people to fight injustice. She built a career on a solid portfolio of works without ever compiling a slum book of scandals. And a nation that fell in love with her at first sight never lost their affection, as intensely as she was their Crush ng Bayan in her teens as their Pambansang Lola in her Seventies. Paalam po at pagpugay, Ginang Jesusa Sonora Poe, ang matagal na nagsilbing liwanag sa dilim.

Search. . .

cation systems in the field. “I’ve been very fortunate in my career,” Curley said of that time according to a 2017 news article. “As a young Army signal officer I was able to lead a large platoon in Europe during my first assignment ... that was at a time when women were not allowed to serve as platoon leaders in certain jobs.” She eventually went on to earn a law degree from the University of Illinois College of Law and become an Army lawyer. Her career took her around the United States but also to Afghanistan for a year. Later, she spent three years in Germany as the chief legal adviser to the commander of US Army Europe, first Lt. Gen. Ben Hodges, who is now retired, and then Lt. Gen. Christopher Cavoli. Cavoli, now a four-star general, was nominated earlier this month to serve as the Supreme Allied Commander for NATO. In Germany, Curley was the senior Army attorney overseeing some 300 legal officials throughout Europe. She also provided “legal review and advice on the millions of things we were doing,” Hodges said in an interview. “I don’t know if I’ve ever met anybody with more integrity,” Hodges said, adding that Curley also had a sense of humor and “a real dose of humility.” The three-star general said because he liked and respected her so much, he would sometimes tease her. She had no problem holding her own, he said. “She had the confidence of knowing that her IQ was about 40 points higher than mine,” he said. “And so she could afford to be self-confident.”

continued from A12

remembered her as kind and studious but also a “pretty serious person.” “She didn’t like the tomfoolery of some of the boys, some of the guys, in our company. They were young men. They do stupid stuff. She did not like that,” Freidel remembered, adding Curley “wanted to be surrounded with intellectuals, people that were smart to challenge her.” Curley, was dubbed “Swirlin’ Curl” in West Point’s yearbook, which listed her hometown as Baltimore. She was also something of an introvert, Freidel said, adding that she never met Curley’s parents, just an aunt and uncle, and couldn’t remember her talking about siblings. In school, Curley was interested in American politics and government, an interest that coincided with one West Point requirement: being knowledgeable about current affairs. The New York Times was delivered every morning and cadets were supposed to be able to talk about four articles in the paper every day, Freidel remembered. “You had to make sure your shoes were shined, your belt buckles were all shined and everything before formation and try to memorize the paper,” she said. Still, Curley found time for extracurricular activities. A domestic affairs club she was a member of took a trip her senior year to Washington that included a meeting with Justice Sandra Day O’Connor. “See you in the White House someday!” her yearbook entry reads. After graduating, she joined the Army’s Signal Corps, which is responsible for setting up communi-

AP reporter Ben Fox in Washington and AP researcher Jennifer Farrar in New York contributed to this report.

Wednesday, May 25, 2022 A13

After 3 months, Russia still bogged down in Ukraine war By The Associated Press

hen Russia invaded Ukraine on February 24, it had hoped to overtake the country in a blitz lasting only days or a few weeks. Many Western analysts thought so, too.

As the conflict marked its third month Tuesday, however, Moscow appears to be bogged down in what increasingly looks like a war of attrition, with no end in sight and few successes on the battlefield. There was no quick victory for Russian President Vladimir Putin’s powerful forces, no rout that would allow the Kremlin to control most of Ukraine and establish a puppet government. Instead, Russian troops got bogged down on the outskirts of Kyiv and other big cities amid stiff Ukrainian defenses. Convoys of Russian armor seemed stalled on long stretches of highway. Troops ran out of supplies and gasoline, becoming easy targets from the land and the air. A little over a month into the invasion, Russia effectively acknowledged the failure of its blitz and pulled troops back from areas near Kyiv, declaring a shift of focus to the eastern industrial region of the Donbas, where Moscow-backed separatists have been fighting Ukrainian forces since 2014. To be sure, Russia has seized significant chunks of territory around the Crimean Peninsula that Moscow annexed eight years ago. It also has managed to cut Ukraine off completely from the Sea of Azov, finally securing full control over the key port of Mariupol after a siege that prevented some of its troops from fighting elsewhere while they battled diehard Ukrainian forces holed up in massive steelworks. But the offensive in the east seems to have bogged down as well, as Western arms flow into Ukraine to bolster its outgunned army. Each day, Russian artillery and warplanes relentlessly pound Ukrainian positions in the Donbas, trying to break through defenses built up during the separatist conflict. They have made only incremental gains, clearly reflecting both Russia’s insufficient troop numbers and the Ukrainian resistance. In one recent episode, Russians lost hundreds of personnel and dozens of combat vehicles in the Luhansk region while trying to cross a river to build a bridgehead. “The Russians are still well be-

hind where we believe they wanted to be when they started this revitalized effort in the eastern part of the country,” Pentagon press secretary John Kirby said Friday, describing the Donbas fighting as very dynamic, with small towns and villages changing hands every day. Elsewhere in Ukraine, Russian forces have methodically targeted Western weapons shipments, ammunition and fuel depots, and critical infrastructure with cruise missiles and air raids in the hope of weakening Kyiv’s military capability and economic potential. The Kremlin appears to still harbor a more ambitious goal of cutting off Ukraine from the Black Sea coast all the way to the Romanian border, a move that would also allow Moscow to build a land corridor to Moldova’s separatist region of Transnistria, where Russian troops are stationed. But Moscow seems to know that this objective is not currently achievable with the limited forces it has. “I think they’re just increasingly realizing that they can’t necessarily do all of it, certainly not at one go,” said Justin Crump, a former British tank commander who heads Sibylline, a strategic advisory firm. Moscow’s losses have forced it to rely increasingly on hastily patchedtogether units in Donbas that could only make small gains, he said. “It’s a constant downshifting of gear toward smaller objectives that Russia can actually achieve,” Crump said. “And I think on the biggest scale, they’ve actually downsized their strategy better to match their ability on the ground.” Many in Ukraine and the West thought Putin would pour resources into Donbas to score a decisive triumph by Victory Day on May 9, when Moscow celebrates its defeat of Nazi Germany in World War II. Russia has falsely called the war a campaign to “denazify” Ukraine—a country with a democratically elected Jewish president who wants closer ties with the West. Rather than a massive campaign in the east, however, the Kremlin opted for a series of tactical minioffensives there, aimed at steadily gaining ground to try to encircle

While Ukrainian President Volodymyr Zelenskyy reaffirmed last week that pushing the Russians back to their pre-invasion positions would represent a victory, some of his aides declared even more ambitious goals.

Ukrainian forces. “The Russian leadership is urging the military command to show at least some gains, and it has nothing else to do but to keep sending more troops into the carnage,” said Mykola Sunhurovskyi, a military expert at the Kyiv-based Razumkov Center think-tank. Many in the West expected Putin to declare a broad mobilization to fill up the Russian ranks. British Defense Secretary Ben Wallace warned that Putin might time an announcement to Victory Day. But it never happened, and Russia has continued to rely on a limited force that was clearly insufficient against Ukrainian defenses. A massive mobilization would likely foment broad discontent in Russia, fuel antiwar sentiment and carry massive political risks. Authorities opted for more limited options, with lawmakers drafting a bill to waive the current age limit of 40 for those willing to sign up for the military. The lack of resources was underlined last week by an abrupt Russian withdrawal from areas near Kharkiv, Ukraine’s second-largest city that has been bombarded since the start of the war. Some of those forces apparently were redeployed to the Donbas, but it wasn’t enough to tip the scales on the battlefield. “They really had to thin out the troops they had around Kharkiv, simply because they’re trying to hold to too much of a line with too few troops,” said Phillips O’Brien, professor of strategic studies at the University of St. Andrews in Scotland. The Donbas fighting has increasingly morphed into artillery duels, and “it might go on for quite a long time without much movement in the lines,” he said. “So it will be more of a positional battle at that point, O’Brien added, with success going to whoever “can take the pounding.” Ukraine, meanwhile, continues to get a steady flow of Western weapons, including US howitzers and drones, tanks from Poland and other heavy gear that is immediately sent into

combat. “Ukraine’s plan is simple and obvious—wear down the Russian forces in the nearest months as much as possible, win time for receiving Western weapons and training how to use them, and then launch a counteroffensive in the southeast,” said Sunhurovskyi, the Kyiv-based military expert. He said Ukraine hopes to receive even more powerful Western weapons, such as US HIMARS multiple rocket launchers, anti-ship missiles and more potent air defense weapons. The eastern deadlock has angered hardliners in Russia, who warned that Moscow can’t win if it doesn’t conduct a massive mobilization and concentrate all of its resources in a decisive attack. Igor Strelkov, a former security officer who led the separatists in Donbas in 2014, denounced what he described as the Kremlin’s indecision, saying it could pave the way for defeat. “For Russia, the strategic deadlock is deepening,” he said. Ukrainian authorities, meanwhile, are increasingly emboldened by the slow pace of the Russian offensive and growing Western support. W hile Ukrainian President Volodymyr Zelenskyy reaffirmed last week that pushing the Russians back to their pre-invasion positions would represent a victory, some of his aides declared even more ambitious goals. Adviser Mykhailo Podolyak said Ukraine isn’t interested in a ceasefire “until Russia is ready to fully liberate occupied territories,” a bold statement that appears to reflect hopes for reclaiming the Donbas and Crimea. Russia, meanwhile, apparently aims to bleed Ukraine by methodically striking fuel supplies and infrastructure while making grinding military gains in the east. The Kremlin may also hope that Western interest in the conflict will eventually fade amid the economic challenges and other problems. “Their final hope is that we will lose interest completely in the conflict in Ukraine by the summer,” Crump said. “They’re calculating the Western audiences will lose interest in the same way as Afghanistan last year. Russia thinks that time is working in its favor.” Danica Kirka in London,

Lolita C. Baldor in Washington and Yuras Karmanau in Lviv, Ukraine, contributed.

More turn to UK food banks as food and fuel bills soar

By Sylvia Hui | The Associated Press

ONDON—For many struggling families, older people and the homeless, Michelle Donnelly’s food hub in east London has been a lifeline. Since the Covid-19 pandemic hit Britain, she has been collecting surplus groceries from supermarkets and distributing them to people who can’t afford to buy food. While the virus threat has faded, the need for food banks in Britain has soared. Skyrocketing energy and food bills are pushing millions deeper into financial hardship, and food banks and community groups like Donnelly’s across the United Kingdom say they don’t have enough to feed the growing numbers of desperate people knocking at their doors. “We are struggling as it is, but right now we’re in a bubbling pot. You’re getting people panicking,” Donnelly said, dishing up turkey curry and onion bhajis to serve people recently. “We used to be able to run to 4 p.m., but now by 2:30, all the food’s gone.” Donnelly offers groceries and free hot meals every week to several dozen regulars in Hackney, an inner London borough with high rates of inequality: almost half of all children there are in poverty. Since the winter, at least 30 to 40 new people have been referred to her, she says. The cost of food and fuel in the UK has risen sharply, with inflation reaching 9 percent in April—the highest in 40 years. The same month, millions of families saw their annu-

al energy bills jump by 54 percent, amounting to an extra 700 pounds ($863) a year on average for each household. Another energy price hike is expected in October, as Russia’s war in Ukraine and rebounding demand after the pandemic push oil and natural gas prices higher. Food businesses have had to pass on higher costs to shoppers, who already have less in their pockets because pay is failing to keep up with price increases. Those on low incomes and dependent on state welfare have been hit hardest. In October, Britain’s government stopped paying an extra 20-pound ($25) per week benefit payment that was introduced during the pandemic. Other parts of the world are struggling, too, as inflation bites. Europe has seen surging consumer prices, causing sticker shock at the grocery store. In the US, food banks say rising food and gas prices and overall inflation are intensifying demand for their support, while their labor and distribution costs are climbing and donations are slowing. “I suppose it’s the way life is going. But it shouldn’t be going so drasti-

cally,” said Dave Anderson, one of Donnelly’s regulars. The 62-year-old hasn’t been able to work or take care of himself since he had heart surgery and was left with no electricity or gas at home until volunteers found him. The 118 pounds ($145) of benefits he gets every two weeks don’t go far. “Me, I’ve not even looked at my bills because I think I’d want to sit there and cry,” Donnelly said. “I don’t understand why the politicians are allowing this to happen.” Things are expected to worsen in coming months. The Bank of England predicts inflation could hit 10 percent by the fall, and its governor, Andrew Bailey, has warned of a “very real income shock” caused by energy prices and an “apocalyptic” rise in food prices due to the war in Ukraine. A recent report from the International Monetary Fund said the UK is expected to be the slowest-growing economy out of the Group of Seven leading democracies in 2023 as the war sets back the global economic recovery from the pandemic. “All of our organizations are reaching out to us saying, ‘We need more food,’ more families are approaching us. The people we’re seeing have got even less to make ends meet,” said Rachel Ledwith, head of community engagement at the Felix Project, a charity that redistributes surplus groceries from the food industry to about 1,000 charities and schools across London.

It delivered enough parcels to make 30 million meals last year, and its kitchen produces thousands of meals—like broccoli soup made from the stems—every day. But that’s nowhere near enough. “I think we’re seeing between 25 percent to 50 percent increase in demand—so if an organization was supporting 50 people, they’re now seeing closer to 75,” Ledwith said. “It’s a real pressure—there’s still a huge amount of need out there in London. We still have a wait list of several hundred organizations that have asked for food that we haven’t yet got the ability to take on.” The picture is similar across Britain. The Trussell Trust, which runs more than half of all UK food banks, said last winter was its busiest outside of 2020—the height of the pandemic. The charity said its food banks provided more than 2.1 million food parcels in the UK in the past year, 14 percent more than the same period in 2019. Of those, 830,000 were for children. The Food Foundation, another charity, said a recent survey showed that around one in seven adults said they or someone they live with have skipped meals, eaten smaller portions or gone hungry all day because they couldn’t afford food. “The situation is rapidly turning from an economic crisis to a health crisis,” said Anne Taylor, the charity’s director.

A14 Wednesday, May 25, 2022

DA okays 2nd importation of fish to ‘help consumers’

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) has approved the importation of 38,695 metric tons (MT) of frozen fish and aquatic products to augment domestic supply “for the benefit of Filipino consumers.” Agriculture Secretar y William D. Dar issued administrative order (AO) 10 that outlined the implementing g uidelines for the importation program for wet market consumption. The latest frozen fish importation program approved by the DA through the issuance of certificate of necessity to import (CNI) aims to boost the country’s supply in the second quarter. Under the law, the agriculture secretary approves and issues a CNI “to ensure food security, fish

price stability and enhance fishery resource conservation.” The country’s fish and other seafood inflation in April was recorded at 5 percent, faster than the 4.3 percent recorded in March. This is the second CNI approved and issued by Dar this year with the first being the 60,000-MT of frozen small pelagic fish in January. The DA is also expected to generate P19.347 million in revenue should the whole 38,695 MT import volume be awarded as it required importers to pay P500 for every

metric ton of import allocation. “Only importers of good standing may be allowed to participate in the importation,” Dar said. “All qualified importers shall strictly comply with Food Safety Standards provided under the law and relevant regulations,” Dar added. The government’s economic development cluster (EDC) earlier proposed the issuance of CNI for small pelagic fish with a total volume of 140,000 MT to plug the shortfall in domestic supply for the remaining quarters. The EDC’s fish importation proposal is part of the various measures that it identified to mitigate the impact of the Russia-Ukraine crisis on food supply and prices.

Import rules

UNDER the guidelines, the imported frozen fish shall be immediately disposed of within 20 days of arrival in the country. “Performance in the disposal as well as disposition reports may be taken as one of the considerations in determining the qualified importers for the next CNI that may be issued,” Dar said. The DA has required interested

importers to submit a bill of lading or pro-forma invoice as part of their requirements to secure a sanitary and phytosanitary import clearance (SPS-IC) to import frozen fish. Qualified importers must have no cases filed against them by the Bureau of Fisheries and Aquatic Resources (BFAR) in relation to violations of any food safety or importation rules and regulations of the government. The DA has also required importers to sell the frozen fish at a maximum price of P90 per kilogram, with their import volumes being traded only in Philippine Fisheries Development Authority (PFDA)-designated trading areas or fish ports. “The importer shall source-out supply from respectable sources and not engage in IUU (illegal, unreported and unregulated) fishing,” the DA added. The DA also requires importers to allow BFAR inspectors, quarantine officers, and law enforcers to conduct inspection and monitoring of the imported fish stored in the BFAR-registered storage facility.

EU EYES TAG AS GLOBAL MARITIME SECURITY HUB By Malou Talosig-Bartolome

AVENNA, Italy—The European Union is shifting to become a “global maritime security actor”—expanding its sphere of influence to the Indo-Pacific region which may include the hotly contested South China Sea and East China Sea. Giovanni Cremonini, head of the maritime security sector of the European Union’s External Action Service, said the EU has economic interests in protecting the sea for trade, critical maritime infrastructure, as well as the maritime environmental concerns and potential consequences of climate change. The EU is highly dependent on maritime trade—90 percent of its external trade and 40 percent of its internal trade are transported by sea. Cremonini said they do not intend to be the “NATO of the seas,” but rather provide more value in securing the oceans and seas from transnational maritime threats. NATO was designed, he noted, to defend the territories of 30 member countries including Eu-

ropean countries, US, Canada, who commit to aid one another in case of attack. “There is certainly no intention to become a naval empire or a maritime empire,” he said at the recent EU Maritime Day workshop. What the EU envisions is to be a “global maritime security actor” that addresses modernday threats to maritime security including threat to freedom of navigation. Currently, the EU has two active ad hoc military engagements—the EU Naval Force Somalia-Operation Atalanta (EUNAVFOR), and the EU Naval Force Mediterranean Operation IRINI (EUNAVFOR MED IRINI). These two are different from NATO and there are no dedicated armed forces under EUNAVFOR. Instead, EU members provide soldiers and assets to military operations sanctioned by EU. EUNAVFOR is involved in military operation at sea off Somalia, stopping piracy and armed robbery at Gulf of Guinea and protecting vessels of the World Food Programme in delivering food aid to Somalia. Continued on A5

Continued on A5

BBM PAYS RESPECTS TO SUSAN ROCES Presumptive president Ferdinand 'Bongbong' Marcos, Jr. chats with Sen. Grace Poe as he visits the wake of her mother, the iconic "Queen of Philippine Movies" Susan Roces, at the Heritage Memorial Park in Taguig City. BERNARD TESTA

Megaworld case most ill-timed; Dominguez fumes over ‘Pabaon’ By Bernadette D. Nicolas @BNicolasBM

INANCE Secretary Carlos G. Dominguez III revealed he was “pissed off” when he was told that some Bureau of Internal Revenue (BIR) personnel are “harassing” people and claiming that they are raising money for his “pabaon,” largely prompting him to issue the suspension order on the creation of special audit task forces. In an interview with Finance reporters, Dominguez said the Megaworld-BIR issue played a part in his decision to suspend the creation of special audit task forces but he said this was not the main reason. “Somebody called me last week and told me that there are BIR people going around town harassing people because daw they were raising money for my pabaon. I really got pissed off because that is absolutely not true. You know what that means? Going around saying, ‘Kasi

bigay namin kay Dominguez ito kasi aalis na.’ Putang ina, talagang nagalit ako. And then this thing came up,” he said. The Department of Finance (DOF) last Saturday announced that the revenue special orders and operations memoranda creating special audit task forces were suspended to avoid confusion among taxpayers. This came days after the BIR released a media advisory announcing that it would supposedly issue a closure order against Megaworld Corporation, but later in the day the taxman advised the media that the event was “held in abeyance until further notice” as Megaworld vowed full cooperation in complying with the taxman’s requirements. However, Dominguez admitted he still does not know the names of the BIR personnel involved in the alleged “pabaon” scheme but people are calling him about it.

Moreover, he also claimed that the issuance of the closure order against the publicly-listed property developer never reached his desk. He slammed the BIR for threatening to close Megaworld Corp. “without any basis,” adding that the agency’s move affected the market needlessly. “There is no finding that they did not pay the tax. There is none. By doing that to a publicly-listed company, it affected the price of the shares. The price of the shares affects the public who owns shares there. So why will you affect people when, in fact, there is no finding yet? You are affecting the shareholders,” he said. He lamented that even pension funds — Social Security System (SSS) and Government Service Insurance System (GSIS) — lost P37 million as their Megaworld shares took a hit last week when the issue broke out. Continued on A5

Companies

Editor: Jennifer A. Ng

Wednesday, May 25, 2022

Investors must repurpose coal power plants–ERC

By Lenie Lectura

@llectura

ollowing the issuance of a directive from the energy department to ban new coal power projects, the Energy Regulatory Commission (ERC) is now suggesting the conversion of coal power projects— that have yet to start construction—to gas plants. ERC Chairperson Agnes Devanadera said the proposal will avoid stranded assets, maximize investments and avoid disincentivizing old investors who put up coal plants

when the country needed them the most. Devanadera noted that there is a growing proposal in other countries to repurpose existing coal power

plants to natural gas plant. The ERC chief said it would be up to the Department of Energy (DOE) to issue a policy on this. “Remember, when we did not have coal power plants, we convinced people to invest. And now that we are seeing that renewable energy is something that we should have, are we just going to make these investors go and not be protected? Future investors will not believe us if that’s the way we will handle. So, my suggestion is let’s do a repurposing of coal power plants. There are new technologies. Even coal facilities can be converted and have natural gas instead of coal as fuel. We should repurpose, otherwise, we will be having stranded assets and that’s not good for investors, investment policy and consumers because we require that they be

maintained well,” Devanadera said. The DOE, she said, could hold consultations with power producers to discuss the possible conversion and cost projections. While the DOE moratorium covers only new coal power projects, the ERC noted that there are still coal investments that are underway and possibly at construction stage already at this point. “For those coal projects whose actual construction has not yet started, maybe we can ask the proponent to study the possible conversion of their project to natural gas project,” she said. Based on the latest data from the DOE, the total capacity of coal power plants that will be added to the country by 2027 will reach 3,685 megawatts even with the moratorium in place.

PLDT added to ATRAM equity fund By Lorenz S. Marasigan @lorenzmarasigan

LDT Inc. said on Tuesday it has been included in the ATR Asset Management (ATRAM) Philippine Sustainable Development and Growth Fund (PSDGF), making it the only telco in the investment portfolio’s top three holdings. The telco titan was added to the fund’s holdings with a weight of 7 percent. “We are very pleased with our inclusion in ATRAM’s sustainabilitybased equity investment portfolio as it recognizes the PLDT Group’s long-

term commitment to sustainable business practices. While much still needs to be done, this affirms that our efforts and plans to address environmental, social and governance issues are directed towards areas that matter,” said Melissa Vergel de Dios, First Vice President and Chief Sustainability Officer at PLDT. Established in February last year, the fund “aims to achieve capital growth by investing locally in equities of companies whose products and services are considered by the investment manager as contributing to the positive environmental or social change, thereby making an

impact on the sustainable development and growth of the economy.” PSDGF lists 20 locally-listed companies that contribute to “positive environmental, economic, and social change.” It takes into account specific outcomes and performance based on the United Nation’s Sustainable Development Goals (SDGs). The unit investment trust fund aims to draw in investors who are eyeing local equity securities with a long-term outlook and an aggressive profile. The market has shown an appetite for companies that have integrated sustainability into their business.

PLDT and subsidiary Smart Communications Inc. are members of the Stakeholders’ Chamber on the Sustainable Development Goals initiated by the National Economic Development Authority. It is also a member of the Global Compact Network Philippines, the local chapter of the United Nations Global Compact. “Even as we ramp up initiatives to ensure the best customer experience and pursue improvement in our profitability, we are doing so without forgetting our responsibility as a steward of the planet for the next generation,” Vergel de Dios said.

Perry Ferrer Air France-KLM to sell new shares to lead 48th A PBC&E

MS Group of Companies Chairman and CEO Perry Ferrer is set to lead this year’s 48th Philippine Business Conference and Expo (PBC&E), the biggest business conference in the country, organized by the Philippine Chamber of Commerce and Industry (PCCI). In an executive session, the PCCI Board unanimously voted for Ferrer, who heads PCCI’s Digital Innovation and Science and Technology Committee. “I am honored with the appointment and excited at the same time to lead this prestigious event. This will be the first time in two years that we will be doing it again face to face,” he said. “As the recognized voice of business in the country, PCCI is taking the lead in spreading the good news, and as our theme suggests that the Philippines is now open and ready for business.” The PBC&E is PCCI’s annual business event that serves as a venue for policymakers, business leaders, diplomats, academe, and micro, small and medium enterprises to meet and tackle issues and come up with policy recommendations to help foster a business environment that is sustainable and resilient. Ferrer has been in the semiconductor industry for almost two decades. His company, the EMS Group, is engaged in providing semiconductor engineering and electronic assembly services. Andrea E. San Juan

ir France-KLM plans to sell about 2.26 billion euros ($2.4 billion) of new shares to shore up its balance sheet and repay a chunk of the state aid that helped the carrier survive the Covid-19 crisis. The proceeds of the rights issue will be used to reimburse about 1.7 billion euros of subordinate bonds issued in April last year and held by the French government, and to further reduce debt, the Franco-Dutch airline said Tuesday. The subscription period is set from May 27 to June 9. “We want to be in a position to seize any opportunity in a changing aviation sector and to be able to accelerate our environmental commitments,” Chief Executive Officer Ben Smith said in a statement. The transaction will bring Air France-KLM closer to completing a targeted 4 billion-euro capital increase as it seeks to pay down borrowings in line with European Union requirements on state funding, which currently bar the airline from participating in the consolidation of an industry roiled by the pandemic. Shares of Air France-KLM traded 6 percent lower at 9:24 a.m. in Paris, the steepest decline since March 7, paring gains this year to 5.4 percent. Air France-KLM has been linked to one of two bidding groups for Italia Trasporto Aereo, the successor to failed Italian arlines Alitalia SpA. Both submitted proposals ahead of a deadline Monday night. One group is led by US-based Certares Management LLC, a travelfocused investment firm that may also have support from Air FranceKLM investor Delta Air Lines Inc. A rival bid from Mediterranean Shipping Company SA is backed by Ger-

Air France-KLM has flagged plans for a 4 billion-euro capital increase. Bloomberg News

man national carrier Deutsche Lufthansa AG. Earlier this week, Air France-KLM said it was in talks with Apollo Global Management Inc. for a 500 millioneuro capital injection into an Air France unit affiliate that owns a pool of spare jetliner engines used in its maintenance operations.

Government stakes

The share-sale plan and improved earnings following the lifting of pandemic restrictions will both help to strengthen the balance sheet, enabling Air-France-KLM to further repay French aid in coming quarters, it said. That will also reduce finance costs. Like other European airlines, the group has switched to expansion mode as the removal of Covid travel curbs triggers a surge in bookings. At the same time, carriers remain wary of prospects beyond the summer as

inflationary pressures add to costs and weigh on consumer spending. France, which owns a 28.6-percent stake, plans to participate in the rights issue to keep its shareholding unchanged, the airline said. The Dutch government also wants to retain its 9.3-percent stake, provided it gets approval from the country’s parliament on time. Shipping giant CMA CGM SA aims to invest as much as 400 million euros in the transaction to take a stake of as much as 9 percent of the company as part of an air-cargo alliance announced earlier this month. China Eastern Airlines Corp. and Delta will see their stakes—of 9.6 percent and 5.8 percent, respectively—in the Franco-Dutch carrier about halved as they have committed to participate in the rights issue on a cash neutral basis. They will sell some of their subscription rights to CMA CGM. Bloomberg News

Manila Water bags award from GWI

Photo from www.manilawater.com

anila Water Co. Inc., the East Zone concessionaire that is now controlled by billionaire Enrique K. Razon Jr., became the first water company from the Philippines and from any developing country to be recognized as Water Company of the Year. The said citation came from the Global Water Awards at the La Quinta De Jarama in Madrid, Spain during the 2022 Global Water Summit held recently. Manila Water bested three other shortlisted internationally renowned water companies that included Aqualia, the third largest private water company in Europe and seventh in the world; Metito, the Middle East pioneer of desalination plants in Egypt; and leading French water company Saur with operations in 20 countries. “We are truly humbled yet very proud and appreciative of this important recognition by industry peers from around the globe,” Manila Water president and CEO Jocot de Dios said. “This is a testament to the excellent service the company is providing not only in the East Zone of Metro Manila and key markets all over the Philippines but also in our international operations.” The Global Water Awards, established by Global Water Intelligence (GWI) in 2006, recognize the most important achievements in the international water industry within several categories, and reward those

initiatives in the water, wastewater and desalination sectors that move the industry forward through improved operating performance, innovative technology adoption and sustainable financial models. De Dios said the award becomes more meaningful for Manila Water as the company will celebrate its 25th year in August. Manila Water started its operations in 1997 as the concessionaire of the state-run Metropolitan Waterworks and Sewerage System to improve the water, wastewater and sanitation services of eastern Metro Manila and the province of Rizal. Since then, Manila Water has addressed the water challenges in its concession by providing clean water and round-the-clock access to 7.3 million customers within its central distribution system. This was made possible through a combination of stakeholder and technical interventions which reduced non-revenue water from 63 percent to an average of 13 percent, unprecedented in the country’s water sector, as well as the implementation of the company’s flagship program. The success of Manila Water in its concession is now being replicated as it expands its reach locally in metropolitan cities in Laguna, Boracay, Clark, Davao, among others. The same brand of service has been exported to the company’s operations in Vietnam, Thailand, Indonesia, and the Kingdom of Saudi Arabia. VG Cabuag

Companies BusinessMirror

Wednesday, May 25, 2022

ACEN Australia starts work on battery storage project

By Lenie Lectura

@llectura

CEN Australia has started construction of its 50megawatt (MW) battery energy storage system (BESS), which will complement its 720MW solar farm which will be completed in 2023.

The 50 MW one-hour battery, which will be connected to its New England Solar Farm in Uralla, New South Wales, is critical in addressing the intermittency of renewable energy. Combined with the solar farm, the BESS will be one of Australia’s largest co- located solar and battery energy storage facilities, helping to

support a more stable electricity network. The BESS will improve system strength and grid reliability, allowing more low-cost renewable energy to connect to the grid, lowering prices for New South Wales consumers. The construction of the BESS was announced by Northern Tablelands MP Adam Marshall and ACEN CEO Eric Francia. Marshall said the 50MW/ one hour BESS is supported by an AU$12.5-million state government grant, and will be built alongside the 720 MW New England Solar

Farm currently in construction east of Uralla. “The construction of the BESS is a landmark project for the New England Renewable Energy Zone and also the New South Wales economy,” Marshall said. In March, ACEN increased its ownership in UPC\AC Renewables to 80 percent, with the intent to be at 100 percent ownership by early 2023. With this acquisition, UPC\ AC Renewables has rebranded to ACEN Australia. Francia, who is also the CEO and President of ACEN, said ACEN has been a partner of UPC Renewables since 2018. “We are immensely proud of the work already achieved on the New England Solar project by the team. The company is pleased to be expanding its renewable energy portfolio and contributing to Australia’s transition to a clean energy future.” “While the UPC\AC Renewables name and brand is changing to ACEN Australia, our highly capable Australian team will remain

in place, and our approach to building long term relationships built on trust with our host communities, and other stakeholders remains the same.” Anton Rohner, CEO of ACEN Australia, said that aside from supporting grid reliability, the battery will also allow for generation-shifting, so that energy can be stored and then discharged into grid when it is most needed. “The New England battery can also be scaled up to 200 MW with two hours of storage capacity in response to the needs of consumers and the grid.” Const r uc t ion of t he f i rst 400MWac / 520MWdc stage of the New England Solar project is due to be completed in 2023 and is being built across two solar fields about six kilometers east of Uralla. Once the entire 720 MW project is complete, it will produce around 1,800,000 megawatt hours of clean electricity each year—enough to power about 250,000 New South Wales homes.

mutual funds

May 24, 2022

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

214.4

6.94%

-6.3%

-4.64%

-8.02%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4382

15.02%

-3.44%

-1.56%

-13.58%

7.45%

-10.08%

-7.19%

-8.9%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9495

Climbs Share Capital Equity Investment Fund Corp. -a 0.7288 2.69%

-7.83% n.a.

-3.66%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6802 -0.56%

-7.71% n.a.

-11.77%

First Metro Save and Learn Equity Fund,Inc. -a

4.8396

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

79.81

8.88%

-3.66%

-2.07%

-6.62%

0.7202

14.37%

-5.96%

-5.31%

-13.65% n.a.

-15.48%

-15.29%

PAMI Equity Index Fund, Inc. -a

44.1329

7.91%

-5.03%

-3.18%

-8.3%

Philam Strategic Growth Fund, Inc. -a

459.41

6.53%

-5.08%

-3.35%

-8.24%

Philequity Dividend Yield Fund, Inc. -a

1.3195

23.63%

0.32%

0.36%

-2.71%

Philequity Fund, Inc. -a

33.677

8.92%

-4.26%

-2.12%

-7.97%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8709

9.31%

-5.53% n.a.

-7.49%

Philequity PSE Index Fund Inc. -a

4.5675

8.93%

-4.36%

-2.54%

-7.93%

Philippine Stock Index Fund Corp. -a

760.65

8.51%

-4.44%

-2.61%

-8.19%

Soldivo Strategic Growth Fund, Inc. -a

0.6818

6.87%

-9.66%

-5.47%

-9.41%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.434

7.11%

-7.06%

-3.96%

-9.05%

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

0.8661

8.24%

-4.75%

-2.85%

7.33%

-4.94%

-1.81%

-7.31%

United Fund, Inc. -a

3.1861

-8.06%

-8.3%

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

1.0919

Philippine Stock Index Fund Corp. -a

927.46 n.a. n.a. n.a. n.a.

9.63% n.a. n.a.

-6.09%

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

102.7112

9.21%

-4.17%

-2.17%

-7.86%

Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b

$0.9406

Sun Life Prosperity World Voyager Fund, Inc. -a $1.5069

-24.47%

-0.53%

-0.74%

-16.5%

-12.56%

6.01%

5.57%

-18.39%

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

1.555

-3.01%

-3.07%

-2.63%

ATRAM Philippine Balanced Fund, Inc. -a

2.1447

1.82%

-2.17%

-1.86%

-6%

4.62%

-0.6%

-0.08%

-4.43%

First Metro Save and Learn Balanced Fund Inc. -a 2.5718

-8.1%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1996

8.36% n.a. n.a.

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

1.9201

3.23%

0.06%

0.21%

PAMI Horizon Fund, Inc. -a

3.5256

1.64%

-1.29%

-1.12%

-6.36%

Philam Fund, Inc. -a

15.7972

1.54%

-1.52%

-1.17%

-6.22%

Solidaritas Fund, Inc. -a

2.0129

3.64%

-1.91%

-1.19%

-5.11%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4021 3.06%

-3.87%

-2.01%

-6.72%

Sun Life Prosperity Dynamic Fund, Inc. -a

-3.27%

-1.58%

-7.13%

0.8862

9.27%

-4.5%

-4.79%

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

0.917

-2.61%

-2.69% n.a.

-7.36%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.8586

2.59%

-4.66% n.a.

-9.09%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.8481

3.76%

-4.98% n.a.

-9.19%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03378 -10.89%

-2.6%

-1.04%

-10.96%

-0.12%

-0.39%

-11.29%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0622 -11.58%

3.48%

3.68%

-15.41%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0404 -11.57%

-0.1%

0.71%

-13.2%

PAMI Asia Balanced Fund, Inc. -b

$0.9466

-16.01%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a

372.42

0.32%

2.2%

2.28%

-0.5%

ATRAM Corporate Bond Fund, Inc. -a

1.8879

-1.44%

0.04%

0.11%

0.17%

Cocolife Fixed Income Fund, Inc. -a

3.229

0.13%

2.1%

3.38%

-0.46%

Ekklesia Mutual Fund Inc. -a

2.1859

-3.19%

0.28%

0.81%

-2.91%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4108 -0.98%

2.04%

1.7%

-0.63%

Philam Bond Fund, Inc. -a

4.2211

-5.75%

1.22%

0.76%

-3.97%

Philam Managed Income Fund, Inc. -a

1.3088

-1.09%

2.86%

2.65%

-0.78%

Philequity Peso Bond Fund, Inc. -a

3.8734

-2.59%

2.2%

-2.33%

Soldivo Bond Fund, Inc. -a

1.0091

-1.71%

3.02%

1.75%

-1.86%

-2%

2.56%

2.71%

-1.7%

-2.67%

1.77%

2.01%

-1.96%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1331 Sun Life Prosperity GS Fund, Inc. -a

1.6967

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

$481.97

-0.44%

1.89%

ALFM Euro Bond Fund, Inc. -a

Є213.13

-2.91%

-0.45%

0.21%

-3.13%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0688

-9.09%

-3%

-0.94%

-11.22%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0245 -5.41%

-1.55%

-1.2%

-0.32%

-5.77%

PAMI Global Bond Fund, Inc -b

$0.903

-13.79%

-5.48%

-3.4%

-11.71%

Philam Dollar Bond Fund, Inc. -a

$2.241

-9.74%

-0.61%

0.23%

-10.56%

$0.0608209

-3.12%

1.26%

1.28%

-2.36%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7866 -11.12%

-2.39%

-1.31%

-12.82%

Philequity Dollar Income Fund Inc. -a

Money Market Funds Primarily invested in Peso securities (shares) 131.74

1.26%

2.32%

2.51%

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

ALFM Money Market Fund, Inc. -a

1.0625

1.04%

1.64% n.a.

0.42%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3237

1.53%

2.22%

2.49%

0.45%

0.62%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0631

0.59%

1.2% n.a.

0.24%

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

42.9487 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.1786

-4.09% n.a. n.a.

-14.77%

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

$0.8468

-15.32% n.a. n.a.

-12.7%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

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

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PSE STOCK QUOTATIONS

May 24, 2022

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

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

43.7 123.5 9.6 94 27 7.22 50.1 7.05 18.2 56 20 91.5 79.5 2.11 3.43 2.12 0.61 199.8

43.9 124 10 94.5 27.1 7.24 50.75 7.2 18.56 57 20.2 91.95 80 2.13 3.53 2.59 0.66 200

43.7 127.9 10.38 94.5 27 7.25 52 7.5 18.6 57 20.3 93.15 80 2.15 3.55 2.12 0.61 200

43.7 128.4 10.66 96 27 7.26 52.2 7.5 18.6 57 20.3 94.95 80.45 2.15 3.55 2.12 0.61 200

43.7 123.5 10 92 26.9 7.23 50.1 7.2 18 57 20 91 79.4 2.11 3.4 2.12 0.61 199.8

43.7 123.5 10 94.5 27 7.23 50.1 7.2 18.2 57 20.2 91.5 80 2.11 3.4 2.12 0.61 200

1,100 4,675,480 382,300 1,357,370 16,800 108,600 2,060,220 16,000 47,800 40 17,600 992,750 104,340 146,000 29,000 1,000 1,000 25,170

48,070 583,312,377 3,897,108 127,907,573 453,020 786,709 104,617,830.50 117,040 866,672 2,280 355,920 91,584,777.50 8,345,407.50 309,470 100,540 2,120 610 5,028,978

INDUSTRIAL

43,700 -220,342,697 147,834 -24,011,672 -326,803 -50,793,955 -26,390,257.50 -100,727 -100,540 7,980

AC ENERGY 7.05 7.06 7.1 7.12 6.9 7.05 23,234,700 163,742,807 ALSONS CONS 0.99 1 1 1 0.99 0.99 208,000 207,020 ABOITIZ POWER 30.6 31 31.65 31.65 30.5 30.6 643,500 19,746,665 0.4 0.41 0.425 0.425 0.4 0.4 6,920,000 2,835,500 BASIC ENERGY FIRST GEN 19.7 19.8 20.35 20.55 19.7 19.7 716,200 14,289,730 FIRST PHIL HLDG 67.8 68.5 69 69 67.2 67.6 11,710 801,214.50 MERALCO 343 350.8 350 352 342.8 343 158,070 54,732,076 17.44 17.5 17.4 17.6 17.38 17.5 201,100 3,510,644 MANILA WATER 3.21 3.22 3.25 3.27 3.21 3.21 1,167,000 3,764,920 PETRON 9.02 9.89 9.88 9.89 9.88 9.89 60,000 593,200 PHX PETROLEUM SYNERGY GRID 12.64 12.76 12.42 13.3 12.28 12.64 13,049,400 169,360,468 PILIPINAS SHELL 18 18.1 18.2 18.28 18 18 85,800 1,553,304 13.1 13.12 13.24 13.24 13.1 13.12 239,400 3,146,388 SPC POWER 1.79 1.8 1.81 1.82 1.78 1.8 26,399,000 47,505,210 SOLAR PH AGRINURTURE 4.65 4.77 4.8 4.8 4.64 4.77 65,000 307,320 AXELUM 2.36 2.38 2.4 2.4 2.35 2.36 270,000 639,820 CENTURY FOOD 21.65 21.7 21.6 21.75 21.6 21.65 1,189,400 25,753,345 13 13.18 13.1 13.18 13 13.18 65,400 851,896 DEL MONTE 7.27 7.29 7.37 7.37 7.27 7.29 216,000 1,573,202 DNL INDUS EMPERADOR 18.52 18.6 18.78 18.88 18.46 18.52 1,025,400 18,994,640 SMC FOODANDBEV 60.2 61.5 61.45 61.5 60 61.5 22,130 1,355,916 0.495 0.5 0.51 0.51 0.49 0.5 1,028,000 514,355 FIGARO COFFEE ALLIANCE SELECT 0.59 0.6 0.59 0.6 0.59 0.59 107,000 63,160 FRUITAS HLDG 1.06 1.07 1.11 1.12 1.07 1.07 5,138,000 5,652,700 GINEBRA 105.8 108.9 107 108.9 105.5 108.9 2,590 273,939 JOLLIBEE 208 208.2 210 210 207.4 208 249,870 52,023,582 1.16 1.17 1.16 1.19 1.16 1.17 1,655,000 1,948,700 KEEPERS HLDG 20.5 24.05 24.05 24.05 24.05 24.05 100 2,405 LIBERTY FLOUR MAXS GROUP 5.53 5.65 5.62 5.62 5.5 5.52 33,900 187,217 MG HLDG 0.12 0.128 0.12 0.12 0.12 0.12 50,000 6,000 15.66 15.92 15.9 16.14 15.64 15.92 16,304,900 260,332,378 MONDE NISSIN 7.48 7.5 7.5 7.6 7.5 7.5 86,800 651,520 SHAKEYS PIZZA 0.56 0.57 0.59 0.59 0.56 0.56 2,102,000 1,205,080 ROXAS AND CO RFM CORP 4.08 4.29 4.11 4.11 4.07 4.07 8,000 32,700 ROXAS HLDG 1.15 1.2 1.23 1.23 1.22 1.23 37,000 45,480 0.1 0.104 0.1 0.1 0.1 0.1 30,000 3,000 SWIFT FOODS UNIV ROBINA 104 104.7 106 108 104 104 802,130 84,312,032 VITARICH 0.63 0.64 0.61 0.63 0.61 0.63 293,000 183,450 CEMEX HLDG 0.73 0.74 0.76 0.76 0.73 0.73 638,000 471,920 3.57 3.6 3.64 3.71 3.55 3.6 2,214,000 7,909,640 EEI CORP HOLCIM 5.25 5.3 5.2 5.25 5.2 5.25 43,300 227,110 MEGAWIDE 4.39 4.4 4.5 4.5 4.34 4.39 401,000 1,764,450 PHINMA 19.8 19.92 19.9 19.92 19.9 19.92 42,100 838,348 TKC METALS 0.73 0.78 0.78 0.78 0.78 0.78 4,000 3,120 0.85 0.86 0.86 0.86 0.84 0.86 667,000 565,680 VULCAN INDL CROWN ASIA 1.81 1.83 1.84 1.84 1.8 1.83 26,000 47,480 EUROMED 1.08 1.13 1.01 1.08 1.01 1.08 36,000 38,540 MABUHAY VINYL 5 5.4 5.49 5.49 5.2 5.47 2,600 13,831 PRYCE CORP 5.25 5.45 5.39 5.39 5.21 5.21 7,700 40,792 17.98 18 18 18 18 18 20,200 363,600 CONCEPCION 1.68 1.69 1.72 1.72 1.67 1.69 10,567,000 17,814,680 GREENERGY INTEGRATED MICR 6.9 6.98 7 7.05 6.8 6.99 73,300 507,613 IONICS 0.6 0.61 0.6 0.61 0.6 0.61 225,000 135,180 6.1 6.2 6.3 6.3 6.2 6.2 14,200 88,135 PANASONIC SFA SEMICON 1.07 1.1 1.07 1.07 1.06 1.06 60,000 63,850 CIRTEK HLDG 2.83 2.88 3.05 3.05 2.83 2.89 325,000 934,290

-1,108,285 -40,000 -3,245,660 -4,575,216 -791,070.50 -18,211,104 1,532,570.00 9,680 -2,574,068 5,296 157,270 -241,340 -237,360 10,503,735 130,000 -538,076 2,936,658 -202,569 -17,860 84,792 -10,249,868 351,000 -71,760.00 88,541,160 -617,580 810,850.00 -33,209,959 -73,890 -782,470 1,820 -549 -363,600 -1,541,870 -

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER

8,986,280 -144,423,830 -23,525,175 114,794 -41,940 17,289,667 -12,136,010 -122,178,039 -1,132,960 -9,302,609 2,002,650 -5,630,740 -542,445 -

HOLDING & FRIMS

1.27 660 46.9 10.34 9 0.455 0.43 4.68 8.85 508 3.43 50 0.56 2.98 8.75 0.33 3.83 1.72 2.8 0.86 830 103.6 112

1.29 663 46.95 10.36 9.4 0.46 0.49 4.7 8.87 509.5 3.77 50.6 0.6 3 8.76 0.34 3.84 1.73 2.9 0.88 839 105 114

1.31 670 48.25 10.72 9.43 0.465 0.49 4.65 8.9 527 3.7 52.1 0.57 2.99 8.7 0.34 3.82 1.73 2.9 0.89 848.5 105 112

1.31 676 48.25 10.72 9.43 0.47 0.49 4.7 8.92 527 3.7 52.15 0.88 2.99 8.8 0.34 3.85 1.76 2.9 0.89 848.5 105 114

1.27 660 46.85 10.34 9 0.455 0.49 4.64 8.85 503 3.7 50 0.56 2.98 8.61 0.34 3.79 1.72 2.9 0.88 830 103.5 112

1.29 660 46.9 10.36 9.39 0.46 0.49 4.68 8.87 508 3.7 50 0.61 2.98 8.76 0.34 3.83 1.72 2.9 0.88 830 105 114

11,812,000 380,230 1,059,900 2,647,400 3,200 350,000 1,000 49,000 3,853,600 112,000 30,000 3,132,680 235,000 379,000 4,025,300 60,000 5,328,000 190,000 60,000 29,000 170,530 36,480 410

15,208,600 252,440,985 49,811,915 27,589,622 29,939 161,550 490 228,160 34,237,030 57,149,100 111,000 158,176,203.50 151,270 1,132,960 35,100,788 20,400 20,338,360 330,420 174,000 25,620 141,992,995 3,815,260 46,620

PROPERTY ARTHALAND CORP 0.55 0.58 0.53 0.53 0.53 0.53 101,000 53,530 AYALA LAND 27.7 27.85 28.65 28.65 27.7 27.7 10,817,100 302,910,850 AYALA LAND LOG 4.05 4.08 4.25 4.25 4 4.05 1,099,000 4,512,550 16.4 16.5 16.4 16.5 16.4 16.4 11,500 188,900 ALTUS PROP ARANETA PROP 1.71 1.72 1.7 1.71 1.65 1.71 812,000 1,380,360 AREIT RT 39.6 39.9 38.7 40 38.7 39.6 609,800 23,865,705 A BROWN 0.8 0.82 0.81 0.85 0.81 0.82 233,000 189,450 0.69 0.71 0.69 0.7 0.69 0.7 81,000 56,640 CITYLAND DEVT 0.091 0.094 0.096 0.097 0.091 0.094 930,000 84,900 CROWN EQUITIES CEB LANDMASTERS 2.74 2.75 2.74 2.77 2.74 2.75 109,000 299,370 CENTURY PROP 0.405 0.42 0.425 0.425 0.41 0.41 330,000 135,800 CITICORE RT 2.5 2.53 2.45 2.53 2.45 2.5 8,240,000 20,545,070 8.02 8.07 8.1 8.1 8 8.02 10,044,400 80,556,536 DOUBLEDRAGON 1.66 1.68 1.63 1.75 1.6 1.66 3,923,000 6,588,470 DDMP RT DM WENCESLAO 6.88 6.9 6.9 6.9 6.88 6.9 21,500 148,220 EMPIRE EAST 0.22 0.224 0.221 0.221 0.219 0.219 350,000 77,000 EVER GOTESCO 0.255 0.26 0.25 0.26 0.25 0.26 11,290,000 2,883,300 7.37 7.38 7.35 7.43 7.34 7.38 1,366,200 10,087,189 FILINVEST RT 0.99 1 1.02 1.02 0.99 0.99 3,211,000 3,186,080 FILINVEST LAND GLOBAL ESTATE 0.88 0.89 0.86 0.88 0.86 0.88 96,000 84,460 8990 HLDG 10.22 10.4 10.44 10.54 10 10.4 139,000 1,443,194 0.91 0.96 0.89 0.91 0.89 0.91 51,000 45,930 PHIL INFRADEV CITY AND LAND 0.77 0.79 0.78 0.78 0.77 0.77 112,000 86,340 MEGAWORLD 2.76 2.77 2.77 2.8 2.74 2.77 2,834,000 7,831,540 MRC ALLIED 0.223 0.224 0.228 0.228 0.224 0.224 5,960,000 1,348,660 MREIT RT 16.88 16.98 17.1 17.1 16.7 16.98 2,961,200 50,141,932 0.35 0.36 0.35 0.35 0.35 0.35 160,000 56,000 OMICO CORP PHIL ESTATES 0.4 0.41 0.39 0.4 0.39 0.4 760,000 296,600 PRIMEX CORP 2.22 2.26 2.31 2.37 2.23 2.26 183,000 421,120 RL COMM RT 7.25 7.3 7.29 7.32 7.19 7.25 8,186,900 59,557,204 18.44 18.58 18.78 18.78 18.44 18.44 526,000 9,716,634 ROBINSONS LAND 0.219 0.241 0.241 0.241 0.241 0.241 70,000 16,870 PHIL REALTY ROCKWELL 1.3 1.38 1.3 1.32 1.3 1.32 78,000 101,960 STA LUCIA LAND 2.79 2.92 2.93 2.93 2.93 2.93 1,000 2,930 SM PRIME HLDG 37.5 37.7 38.2 38.2 36.5 37.7 10,573,900 399,312,515 3.25 3.37 3.18 3.39 3.18 3.39 3,000 9,750 VISTAMALLS SUNTRUST HOME 0.98 1.01 0.98 1.01 0.98 1.01 54,000 53,540 VISTA LAND 2.44 2.45 2.49 2.49 2.43 2.44 1,275,000 3,122,870 SERVICES ABS CBN 9.8 9.9 9.97 9.99 9.75 9.8 148,100 1,465,163 GMA NETWORK 12.06 12.08 11.9 12.08 11.8 12.06 1,209,400 14,511,368 MLA BRDCASTING 8.51 9.8 8.65 9.8 8.4 9.8 900 8,160 2,530 2,538 2,550 2,550 2,492 2,530 84,925 214,976,380 GLOBE TELECOM 1,916 1,935 1,960 1,979 1,916 1,916 107,020 207,443,220 PLDT APOLLO GLOBAL 0.045 0.046 0.046 0.048 0.045 0.045 380,900,000 17,298,700 CONVERGE 25.8 26 26.3 26.8 25.7 25.8 46,513,100 1,211,790,250 2.91 3.01 3.01 3.01 3.01 3.01 94,000 282,940 DFNN INC DITO CME HLDG 4.79 4.8 4.9 4.9 4.78 4.8 2,996,000 14,423,030 1.33 1.34 1.33 1.36 1.31 1.33 777,000 1,039,460 NOW CORP TRANSPACIFIC BR 0.295 0.305 0.305 0.305 0.295 0.295 2,810,000 844,650 2GO GROUP 6.86 7.29 6.84 6.86 6.84 6.86 2,800 19,197 13.32 13.68 13.8 13.8 13.32 13.32 4,900 65,542 ASIAN TERMINALS CHELSEA 1.52 1.56 1.56 1.58 1.51 1.56 246,000 379,200 CEBU AIR 47.1 47.2 48.7 49 47.1 47.1 149,300 7,156,265 INTL CONTAINER 209.6 213.8 209.2 213.8 207 213.8 1,598,990 336,130,126 LBC EXPRESS 23.15 24.75 23 23 23 23 5,000 115,000 0.63 0.7 0.64 0.66 0.6 0.62 194,000 120,490 LORENZO SHIPPNG 4.91 4.94 4.86 5.01 4.85 4.94 160,000 791,550 MACROASIA METROALLIANCE A 0.94 0.95 0.92 0.95 0.92 0.95 66,000 62,600 PAL HLDG 6.1 6.2 6.1 6.2 6.1 6.1 50,600 312,460 0.8 0.84 0.86 0.86 0.84 0.84 703,000 596,430 HARBOR STAR BOULEVARD HLDG 0.095 0.096 0.101 0.103 0.095 0.096 153,260,000 14,972,570 DISCOVERY WORLD 1.69 1.83 1.68 1.73 1.68 1.69 38,000 64,290 GRAND PLAZA 10.44 14.74 14.76 14.76 14.76 14.76 100 1,476 WATERFRONT 0.425 0.44 0.42 0.42 0.42 0.42 20,000 8,400 530 540 540 540 540 540 50 27,000 FAR EASTERN U 0.345 0.35 0.35 0.35 0.35 0.35 60,000 21,000 STI HLDG BELLE CORP 1.25 1.26 1.28 1.28 1.26 1.26 170,000 215,100 BLOOMBERRY 6.35 6.36 6.53 6.61 6.32 6.35 6,388,900 41,509,815 1.32 1.43 1.43 1.43 1.43 1.43 6,000 8,580 PACIFIC ONLINE LEISURE AND RES 1.33 1.37 1.35 1.37 1.34 1.37 3,569,000 4,816,070 MANILA JOCKEY 1.63 2.1 1.65 1.65 1.65 1.65 1,000 1,650 MJC INVESTMENTS 0.71 1.45 1 1 1 1 28,000 28,000 PH RESORTS GRP 1.25 1.26 1.3 1.34 1.23 1.25 5,319,000 6,695,780 0.415 0.42 0.415 0.42 0.415 0.415 620,000 257,450 PREMIUM LEISURE PHILWEB 3.58 3.6 3.6 3.7 3.6 3.6 1,161,000 4,210,340 ALLDAY 0.415 0.42 0.405 0.415 0.4 0.415 16,690,000 6,835,950 BERJAYA 5.46 6.3 5.46 5.46 5.46 5.46 100 546 5.67 5.71 5.86 5.86 5.63 5.71 266,400 1,515,721 ALLHOME 1.43 1.44 1.43 1.44 1.43 1.43 1,094,000 1,564,440 METRO RETAIL PUREGOLD 32.2 32.25 33.45 33.45 32 32.2 3,167,500 102,211,890 ROBINSONS RTL 51.95 52.3 52.6 52.6 51.7 52.3 400,360 20,725,022 PHIL SEVEN CORP 54 54.5 55 55 54 54.5 188,590 10,345,285 1.3 1.32 1.3 1.32 1.29 1.32 3,859,000 5,043,480 SSI GROUP 27.2 27.7 28.3 28.3 27.2 27.7 394,700 10,886,405 WILCON DEPOT APC GROUP 0.216 0.217 0.227 0.227 0.216 0.217 1,080,000 242,220 EASYCALL 3.68 4.99 5 5 5 5 8,900 44,500 MEDILINES 0.71 0.74 0.73 0.76 0.71 0.74 1,924,000 1,411,000 0.435 0.44 0.435 0.44 0.43 0.435 760,000 329,650 PRMIERE HORIZON 3.75 3.95 3.88 3.93 3.88 3.93 43,000 168,070 SBS PHIL CORP MINING & OIL ATOK 7 7.1 6.9 7.15 6.9 7 770,900 5,396,341 APEX MINING 1.64 1.65 1.65 1.67 1.63 1.65 927,000 1,529,140 5.98 5.99 6.13 6.17 5.95 5.98 54,500 327,751 ATLAS MINING 6.81 6.95 7.15 7.15 6.75 6.95 305,200 2,128,050 BENGUET A BENGUET B 6.81 7 6.76 7 6.76 7 59,300 404,279 CENTURY PEAK 2.7 2.8 2.8 2.8 2.8 2.8 120,000 336,000 4.3 4.67 4.41 4.41 4.4 4.4 5,000 22,020 DIZON MINES FERRONICKEL 2.58 2.6 2.59 2.61 2.57 2.6 3,605,000 9,362,450 0.175 0.186 0.175 0.175 0.175 0.175 10,000 1,750 GEOGRACE LEPANTO A 0.135 0.136 0.138 0.138 0.136 0.136 1,710,000 234,620 MANILA MINING A 0.0095 0.0096 0.0096 0.0096 0.0096 0.0096 10,000,000 96,000 1.69 1.7 1.72 1.72 1.66 1.69 2,795,000 4,769,760 MARCVENTURES 0.94 0.99 0.95 1 0.94 0.94 158,000 153,870 NIHAO NICKEL ASIA 6.97 6.99 7 7.04 6.9 6.99 4,663,200 32,533,980 ORNTL PENINSULA 0.74 0.76 0.76 0.76 0.74 0.74 547,000 410,760 PX MINING 4.6 4.66 4.7 4.7 4.55 4.61 344,000 1,586,480 32.8 33 32.55 33 32.5 33 3,617,700 118,778,415 SEMIRARA MINING 0.0061 0.0062 0.0062 0.0062 0.0062 0.0062 5,000,000 31,000 UNITED PARAGON ACE ENEXOR 13.04 13.12 13.1 13.48 13.1 13.12 25,400 337,228 ORNTL PETROL A 0.01 0.011 0.011 0.011 0.011 0.011 9,500,000 104,500 0.009 0.0092 0.009 0.009 0.009 0.009 28,000,000 252,000 PHILODRILL 4.76 4.8 4.85 5 4.77 4.8 56,000 268,560 PXP ENERGY PREFFERED HOUSE PREF B 97.5 100 97 100 97 100 650 63,350 AC PREF B1 500.5 505 505 505 505 505 100 50,500 BRN PREF A 105 106 105 105 105 105 5,000 525,000 47.35 47.95 47.35 48.4 47.35 47.35 106,400 5,140,445 CEB PREF DD PREF 99.6 99.7 99.7 99.7 99.5 99.6 10,500 1,045,748 EEI PREF B 108.9 109.5 109.5 109.5 109.5 109.5 7,840 858,480 GTCAP PREF A 990 1,000 1,000 1,005 1,000 1,005 505 505,025 1,010 1,011 1,010 1,010 1,010 1,010 10,895 11,003,950 GTCAP PREF B JFC PREF B 966 990 990 990 990 990 30 29,700 MWIDE PREF 2A 93.8 98.95 93.65 95 93.6 95 950 89,555 MWIDE PREF 2B 96.05 99.75 95.65 99.85 95.65 99.85 200 19,345.50 MWIDE PREF 4 97 98.5 97 98.9 97 98.9 140 13,675 99.6 100.4 100.5 100.5 100 100.4 4,050 405,403 PNX PREF 3B PNX PREF 4 970 988 988 988 969 988 250 245,150 SMC PREF 2F 76.4 77.85 77.9 77.9 77.85 77.85 4,550 354,444 SMC PREF 2H 75.1 75.5 75.5 75.5 75.5 75.5 1,000 75,500 SMC PREF 2J 75 75.2 75 75 74.75 75 29,630 2,221,750 74.05 74.9 74.5 74.5 74.5 74.5 13,400 998,300 SMC PREF 2K TECH PREF B2C 52.75 55 55 55 55 55 510 28,050 TECH PREF B2D 55.2 58.6 58.6 58.6 58.6 58.6 8,500 498,100 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 9.34 10.36 10.36 10.36 9.32 9.32 1,573,900 16,303,004 GMA HLDG PDR 11.6 11.86 11.5 11.88 11.5 11.7 29,400 345,882 WARRANTS TECH WARRANT 0.54 0.57 0.59 0.59 0.54 0.57 16,000 9,000

-154,700,495 -14,640 8,500 2,545,680 33,600 -60 -80,218,432.00 120,750 33,000 1,817,710 -2,119,310 -851,820 -13,240 26,958,764 16,992,307 3,357,292 105,288,425 -1,141,750 67,872,240 36,747,090 -94,300 -431,924,960 -4,183,310 -26,800 315,000 3,420 -2,039,210 25,830,474 -76,160 -10,140 44,550 1,730 27,000 -6,722,854 65,990 2,835,150 -693,293 -66,885,550 -289,738 -914,015 2,167,680 2,668,570 -29,800 -26,000 -19,800 -21,776 -18,200 336,000.00 8,212,760 -44,370 9,288,371 22,120 78,981,890.00 -17,110 9,000 -

SMALL & MEDIUM ENTERPRISES CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

0.83 1 0.8 1.61 0.285

0.84 1.05 0.81 1.63 0.29

EXHANGE TRADE FUNDS FIRST METRO ETF

101

101.5

0.85 1.06 0.8 1.65 0.32

0.86 1.06 0.82 1.67 0.32

0.82 1 0.8 1.6 0.28

0.83 1.05 0.8 1.63 0.285

11,920,000 124,000 255,000 5,593,000 3,740,000

9,909,670 126,130 206,080 9,110,110 1,077,950

() -75,946 32,550 19,200 -24,000

102.8 103 101 101 13,490 1,375,087 608,540

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Natl food fair stages biggest comeback since Covid-19 onset

fter a two-year hiatus, the highly awaited 2022 Hybrid National Food Fair (HNFF) is set to return from June 1 to 5, 2022 at the Megatrade Halls 1-3, SM Megamall, Mandaluyong City. Organized by the Department of Trade and Industry—Bureau of Domestic Trade Promotion (DTIBDTP) in partnership with the DTI Regional Operations Group, officials say the 2022 HNFF is envisioned to be the biggest domestic trade event since the onset of the Covid-19 pandemic. Featuring the best food products from the country’s 16 regions, 250 exhibitors are participating in the traditional fair setting, complemented by an additional 200 micro, small and medium enterprises (MSME) in simultaneous virtual events on the Lazada e-commerce platform, which can be accessed at https://bit.ly/NFFxLazada, as well as social media and other livestreaming sites. T he five-day order-tak ing, business-matching, and retail e ve nt sho wc a s e s i n no v at ive and sustainable food products, unique and eco-friendly packaging materials, table and kitchen linens, tableware, kitchen utensils, cooking tools made of native materials, as well as dining room furniture and décor, plus essential items for the hotel and restaurant industry. As the premier trade show for food entrepreneurs, the 2022 HNFF includes special settings to elevate the food fair experience. Show highlights include the following: Negosyo Center One-StopShop; Digital Partners Lounge; Fresh Produce Pavilion; KAPEtirya Philippine Coffee Pavilion; PINASarap! Innovative Food Gallery; Tara, Kain Tayo! Tablescape and Bar Special Setting; and #FlexPHridays Photo Wall Corner. There will also be a daily program of activities that will feature the Kusinang Filipino and live cooking demonstrations. In addition, business talks on the latest industry trends as well as seminars on government services will provide MSMEs with additional information and resources to enhance their entrepreneurial journey. For a lighter touch, the Philippine wine mixing show will be a regular segment in the daily program. All the workshops are open to the public, and admission is free. For the online audience, the program activities will be streamed simultaneously on the BDTP’s social-media channels. With sustainability as an increasing concern, the 2022 HNFF promotes a sustainable shopping experience by encouraging fairgoers to bring reusable shopping bags and help keep the surroundings clean. Also, keeping mindful of health and safety, hygiene stations with alcohol and hand sanitizers will be available at strategic locations. All exhibitors and their staff are fully vaccinated and observe safety protocols. Everyone is expected to wear a mask at all times and to maintain social distancing. The 2022 Hybrid National Food Fair brings together the best physical, on-site trade show and expands its reach by incorporating digital, online components to reach Filipino foodies from all over the country and beyond. For more information about the 2022 Hybrid National Food Fair and other programs of the DTI-Bureau of Domestic Trade Promotion, please follow their social-media accounts on Facebook, Instagram (dti. bdtp), and Twitter (@DTI_BDTP). You may also e-mail BDTP Director Marievic M. Bononan at bdtp@ dti.gov.ph.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, May 25, 2022 B3

Xendit raises $300M in new funding to help PHL start-ups, other causes By Roderick L. Abad

@rodrik_28

Contributor

OUTHEAST Asian financial technology (fintech) provider Xendit announced the recent completion of its Series D funding round amounting to $300 million to beef up its operations in the Philippines. Bringing its total capital raised to $538 million, the new fund will bankroll its commitment to support micro, small and medium enterprises (MSMEs), support women in tech initiatives, build better payment solutions, and simplify business processes. The round was co-led by Coatue and Insight Partners, with additional investment from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, and Justin Kan’s Goat Capital. “We are so excited to apply this latest round of funding to further our existing growth initiatives while investing into even more new initiatives to accelerate the Philippine digital economy,” Xendit Philippines Chief Executive Officer (CEO) and Managing Director (MD) Yang Yang Zhang told reporters during their midyear media webinar on Friday May 20, 2022. “Not only will we double down on launching first-to-market payments solutions and building world-class financial infrastructure, but we will also partner deeply with regu-

lators, create new opportunities for Filipina women in tech, and push the frontiers of fintech innovation,” she vowed.

Paying it forward

ESTABLISHED in 2016, Xendit democratizes payments solutions for customers of all sizes—from individual sellers to MSMEs, growth stage start-ups, and even large enterprises. Since its inception, it has kept its growth momentum with monthly sales surging by 10 percent globally and 30 percent in the Philippines alone. The firm tripled annualized transactions from 65 million to 200 million and increased total payment value from $6.5 billion to $15 billion last year. “From just a handful of scrappy multi-taskers, our local team has expanded continuously as we serve more and more Filipino businesses of all sizes,” Zhang said The fast-growing payments platform is not focused only on its own growth, but also makes strategic investments in start-ups and MSMEs

XENDIT announces a major milestone meant to revolutionize further the digital infrastructure in the Philippines. Shown in the splitscreen photo are the top executives of Xendit Philippines and its partners during the payments platform provider’s webinar.

across the region, especially here where it is among the big fintech players. Backed by some of the most prominent investors in Silicon Valley, it hopes to help further draw venture capital attention to the growing local start-up scene. “We’re so excited to funnel our funding back to the Philippines to pave the way for other Filipino startups, establish partnerships with local communities, and support regulators in their digitization goals,” noted the CEO and MD of Xendit Philippines. “Payments are a crucial component for online businesses and we believe Xendit is capturing a formative opportunity in Southeast Asia. Xendit’s deep local expertise, modern tech stack and customer-centric approach have created a digital payments platform that is helping transform how Southeast Asian businesses transact. Coatue is delighted to partner with the Xendit team for the next phase of their journey,” Coatue General Partner Luca Schmid

‘Success comes with a spark’: Flash Express boosts customer reach with new stores and delivery fleet

O reach out to more individual and enterprise clients, Flash Express has opened its initial three physical stores located in Divisoria Mall, 999 Mall and Manila Textile, and inaugurated the first batch of branded trucks to be deployed in Metro Manila. According to Flash Express Marketing Director Dave Khodr, the actual outlets will complete the host of delivery services for their patrons as they can do walk-ins in them. Customers can now send and pick up their parcels at its brick-and-mortar stores called the Flash Shop. “We are very positive that Flash Shop will further speed up the business logistics experience of all our customers, especially those who are looking for physical branches of Flash Express inside business establishments such as malls and retail stores near them,” he said. Within just eight months of operation, Flash Express also has successfully kicked-off its other business services, namely, Flash Express and Flash Home, backed by its acquired world-class logistics requirements and business model ecosystem. The new delivery fleet will fulfill the former’s offering of free door-todoor pick up of parcels and packages. The latter aims to help Filipinos to jumpstart their business by partnering with the company itself or those entrepreneurs who want to utilize their commercial spaces as delivery

said for their part. To complement its expansion into the Philippines, the firm made a strategic investment in leading local payment gateway, Dragonpay, to cement a partnership to surpass challenging and long-standing reliability and infrastructure hindrances. Inspired by the success of their collaboration over the last year, it commits itself to invest into more local start-ups that share its philosophy on communityminded growth and scalable, customer-centric solutions.

Other causes

GIVEN the fresh capitalization Xendit Philippines commits to allot more resources to two major initiatives: empowering women in tech and subsidizing nonprofit organizations that directly help the local community. “As a woman who has spent her entire career in male-dominated tech industries, I am deeply invested in lowering the barriers to entry for Filipina women interested in technology. Education has always been the fastest way to level the playing

By Rizal Raoul S. Reyes

drop-off points of Flash Express which will only involve minimal investment and requirements. Per Atty. Sherry Lou Bernabe, head of legal and compliance at Flash Express, the firm is faring very well in terms of realizing all its business plans and promises to its customers. “With the combined efforts by our leaders, business partners, and employees, we are delighted to say that Flash Express continues to permeate the logistics industry and to enhance the experience of its customers. Our

Filipino customers deserve a worldclass courier and logistics services partner and that is what Flash Express is doing since day one,” she said. The company continues to double down its efforts in order to be the most trusted business delivery partner and to be a household name in the logistics industry. To date, it has 368 distribution centers and growing number of Flash Home partners nationwide. Flash Express is set to open 112 Flash Shop branches all over the country within the year. Roderick L. Abad

Regional expansion

FOLLOWING its entry to the Philippines and Indonesia, Xendit is ready to build and transform the digital payment infrastructure in other parts of the region. “The payments infrastructure market opportunity in Southeast Asia is massive, and Xendit is capturing it with its world-class payments technology,” said Insight Partners MD Nikhil Sachdev. “The company’s strong leadership team and excellent customer reviews, coupled with its incredible traction across Southeast Asia, have made Xendit the dominant player in the region. Insight is thrilled to partner with the team as they scale their operations.” Catering to over 3,000 customers, the firm’s competitive edge is its deep understanding of local customer requirements combined with worldclass technology. This enables Xendit to deliver hyper-localized products to aid start-ups scale while also serving some of the largest merchants in Southeast Asia.

Entrepreneurs told to beef up digital capabilities to boost sales @brownindio | Contributor

FROM left, Flash Express Marketing Director Dave Khodr, Flash Express Finance Director Carolyn Cao, Flash Express Brand Ambassador Robi Domingo, Flash Express Head of Legal & Compliance Atty. Sherry Lou Bernabe, Flash Express Reyjim Timoteo and Flash Express PR & Media Relations Manager Reginald Rex Pumihic pose together during the company’s launch of Flash Shop and inauguration of transport fleets. Photo courtesy of Flash Express

field, and I’m so happy that Xendit will be investing directly into making tech education and career training more accessible for Filipina women everywhere,” shared Zhang. The company constantly finds new ways to give back to local communities, both directly and by empowering others who do so. Last year, it offered discounted rates, shorter settlement time, and priority onboarding to those collecting donations for typhoon “Odette” relief. Currently, it pledges to continue extending this assistance for all qualified NGOs and nonprofit organizations.

he country’s micro, small and medium enterprises (MSMEs) need to beef up their digital capabilities to be able thrive in the digital economy. And the private sector is promptly responding to the call. “MSMEs really are the key at ensuring the steady recovery of our economy in the next few years. Clearly, we must all work together in creating an environment where they can succeed,” Jaypee Soliman, VP and CXG-SME and Micropreneurs Segment head of UnionBank said in a recent webinar organized by the UnionBank GlobalLinker Online Academy—a joint initiative of UBGL and the Retail Academy of the Philippines (RAP). “The UBGL Online Academy is all about championing education and growth for the Filipino MSMEs, and this webinar is just the beginning of an exciting journey with us,” added Soliman. In his presentation, RAP President and Founder Eric Caeg talked on “The Market Opportunity Navigator: Steps for Discovering Your Most Valuable Market Opportunities,” stressing on how entrepreneurs can identify and assess these untapped markets to grow their businesses. Citing a framework developed by educator-authors Sharon Tal and Marc Gruber, Caeg discussed how this can be applied to local businesses and cited a few case studies on how the scheme can be maximized. The framework consists of three main steps, each represented by its own template. The first is the Market Opportunity Set, which as the name suggests, entrepreneurs can use to identify potential market opportunities. This is followed by the Attractiveness Map, which is used to evaluate the appeal of each market opportunity in the first step. The template features a compass characterized by four extremes: Gold Mine, Moon Shot, Quick Win, and Questionable. The last is the Agile Focus Dartboard used to identify the Agile Focus Strategy. The template consists of three layers to define the opportunities that can be pursued right away, as well as those that can be saved as backup or utilized

for future growth. Caeg explains, “Know how important it is to apply the Market Opportunity Navigator whenever you need to rethink your strategy—to make sure that you are running and going towards the right direction and at the same time, remain agile while doing all of these steps.” The webinar was the first free offering from UBGL Online Academy, a two-pronged program for the continuous education of MSMEs. Other channels also at no cost to attendees are podcasts and deep-dive MSME modules.

Connecting MSMEs to the market

Meanwhile, pure-play high-speed fixed broadband operator, Converge Information and Communications Technology Solutions Inc. said in a recent briefing that spreading the gospel of digitalization is being accepted by a big number of MSMEs. Jesus Romero, chief operating officer of Converge, said the enterprise segment revenues grew by 25.1 percent year-onyear, from P749.7 million to P938.2 million during the same period, mostly from the strong growth in the small and medium enterprise segment, marking further revenue acceleration of enterprise business. “Despite the pandemic, MSMEs ramped up their digitalization efforts not only in their Internet connections but also in their payroll and timekeeping operations. Through a partnership with a software-as-a-service company, it recently introduced SweldoMo to provide MSMEs with reliable and efficient digital solutions. Romero said Converge plans to launch more solutions to provide convenient technology tools to MSMEs and large enterprises. “Converge continues to become more than just an Internet service provider by giving opportunities for growth to businesses with our digital solutions,” Romero said. SweldoMo, under Converge Workplace solutions, functions as an automated payroll and human resources (HR) management system that takes care of HR, timekeeping and payroll processes. “We will make sure MSMEs will get the fiber connection for better connectivity,” he assured.

Banking&Finance BusinessMirror

Wednesday, May 25, 2022 • Editor: Dennis D. Estopace

www.businessmirror.com.ph

Govt infra spend in Q1 dips 2.6% to ₧190.2B

By Bernadette D. Nicolas

@BNicolasBM

TATE infrastructure spending in the first quarter dipped by 2.6 percent year-on-year to P190.2 billion, largely due to the timing of payables for regular infrastructure projects.

Latest data from the Department of Budget and Management (DBM) showed government spending on

infrastructure and other capital outlays from January to March this year was lower by P5 billion than the

Beyond the crisis

WENTY policy experts and academicians discussed the current Philippine situation and provide their prognoses in a book titled “Beyond the Crisis: A Strategic Agenda for the Next Administration,” which was launched last week by the Stratbase ADR Institute (ADRi). Through the 16 in-depth papers compiled in the book, Stratbase ADRi President Victor Andres C. Manhit said the Manila-based think tank hopes to spark conversation, sustain enlightened discourse, encourage involvement and create positive change with the principal goal of uplifting the lives of Filipinos and achieving a better Philippines. “Whoever is elected, whoever gets appointed, we must not be afraid to be disruptive and break the myopic political cycle that has hindered the velocity of growth and prosperity that all Filipinos have a right to enjoy,” Manhit explained during the book launch. The launch was attended by six of the authors, including Manhit himself who wrote the paper on “A Responsive and Strategic Foreign Policy Outlook in an Interconnected and Multipolar World.” Dr. Carlos Primo C. David believes the only way to move forward is to present valid strategies to influence decision makers. In his paper, “Improving the Philippine Agriculture Sector by Establishing Food Production Areas,” David pointed out that such self-contained areas should consist of large industrial farms with a lot of mechanization and surrounded by small traditional farms of one to two hectares in size. “A National Security Strategy for the 17th Philippine President: The Case for a Limited Balancing Strategy” was written by Dr. Renato Cruz C. de Castro, who argued that relevant establishments are now questioning the incumbent administration’s policy of appeasement toward China. For his part, Dr. Francisco A. Magno exhorted our country’s next leaders to build on reforms from the past in terms of tapping civil society and the private sector as well as capacitybuilding and policy integration in his study on “Governance Agenda for Development in a Post-Covid-19 Philippines.” In her paper on “Accelerating Resilience and Climate Change Ad-

P195.2 billion recorded in the same period last year. Apart from infrastructure spending, lower equity also tempered the growth in other expense items. Spending on equity plunged by 98.9 percent to P0.5 billion from P45.3 billion in the first three months of the year due to the previous year’s completion of one-time equity infusion to government financial institutions for their credit assistance and lending programs under the Bayanihan 2 (Republic Act 11494) law. Nonetheless, overall government spending picked up by 8.2 percent to P1.1 trillion as of end-

March. This was due to higher allotment and capital transfers to local government units. Such were in line with the first year of the implementation of the Supreme Court’s Mandanas ruling and the annual block grant to Bangsamoro Autonomous Region in Muslim Mindanao. Government spending was also driven by higher expenditures on personnel services, interest payments, maintenance spending and subsidy. For March alone, government infrastructure spending rose by 14.2 percent to reach P100.2 billion compared to the P87.8-billion spending

slow down following the 45-day election ban on certain public expenditures in line with May 2022 polls. However, they also see normalization of spending towards the end of this month once the ban ends. Among the expected drivers of government spending growth for the second quarter is the release of the mid-year bonus of government employees, expenditures incurred by the poll body for the conduct of the elections, payables for completed/ partially-completed capital outlay projects and various educational assistance and social protection programs.

BTr fully awards ₧35B in T-bonds despite high rates Finex free enterprise

Joseph Araneta Gamboa aptation: Strengthening the Philippines’ Contribution to the Global Decarbonization Agenda,” Dr. Toby Melissa C. Monsod underscored the importance of playing a long game such as in the field of global warming. She co-authored the report with Sara Jane Ahmed and Golda P. Hilario. Ateneo School of Government Dean Dr. Ronald U. Mendoza read excerpts from his study on “Reducing Inequality in the Philippines: Rationale and Reform Options.” He discussed the three facets of inequality in our country: weak upward mobility in the economy; vulnerability to disaster; and the concentration of power among a few political clans. The book is divided into three sections, namely: foreign and security policy; economic development; and, good governance. The other authors whose works were included in this volume are: Prof. Richard Javad F. Heydarian, retired Bangko Sentral ng Pilipinas Deputy Governor Diwa C. Guinigundo, Dr. Chester B. Cabalza, Dr. Mely Caballero-Anthony, Dr. Charlotte Justine Diokno-Sicat, Dr. Vicente B. Paqueo, Dr. Michael R.M. Abrigo, Dr. Magdalena A. Barcelon, Dr. Katharina Anne D. Berza, Dr. Eleanor A. Jara, Dr. Sherwin E. Ona and Dr. Rizal G. Buendia. Manhit emphasized the need for an innovative government and disruptive leadership that will put game-changing reforms in place at this crucial juncture in our nation’s history. According to him: “We need a government with crystal-clear vision and one that is ready to harness the nation’s talents, craft a sustainable development strategy and uphold the rule of law at all times.” So help us God. Joseph Gamboa is the chairman of the Finex Media Affairs Committee and director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror. #FinexPhils www.finex. org.ph

HE Bureau of the Treasury fully awarded P35 billion in reissued 10-year Treasury Bonds (T-bonds) on Tuesday as it gave in to investors’ demand for higher rates. With a remaining term of 9 years and 8 months to maturity, the security capped at an average rate of 6.894 percent, higher than the comparable secondary market benchmark rates. This is up by 48.7 basis points from the Bloomberg Valuation Service Reference Rate for the 10-year tenor at 6.407 percent. Likewise, this is also up by 59 basis points compared with the BVAL rate for the security itself at 6.304 percent. National Treasurer Rosalia V. De

Leon said investors sought higher rates as the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve are expected to resort to more rate hikes to combat inflation. “Higher rates demanded by market for duration premium following BSP rate hike and expectations of similar follow up actions both from Fed and [the] BSP to tame inflation,” De Leon told reporters in a message. Nonetheless, the debt papers attracted a total of P72.9 billion in bids, making the auction more than twice oversubscribed. Last week, the BSP raised rates for the first time since the pandemic as the country’s monetary authority

Elementary School; Buting Elementary School; and, Francisco Legaspi Memorial School in Pasig. Manulife Philippines’s financial literacy program dubbed “Peso Smart” continues to support the Department of Education’s initiatives to expand and improve its financial literacy curriculum for K-12 programs to enrich the capability of learners, teachers and personnel. According to Manulife Philippines Chief Marketing Officer Melissa Henson, the company created the financial literacy program to teach young students how to make responsible financial decisions. “However, in the course of running the program, we also saw an opportunity to extend it to include teachers, school principals and par-

tries to get a hold of the rising inflation expectations in the country. At its meeting, BSP Governor Benjamin E. Diokno announced that the Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase facility by 25 basis points to 2.25 percent, effective May 20. Accordingly, the interest rates on the overnight deposit and lending facilities were raised to 1.75 percent and 2.75 percent, respectively Based on BSP’s latest forecast, inflation is seen to hit 4.6 percent for the year, from the previous forecast of 4.3 percent. This is beyond the ceiling of the government’s inflation

target band of 2 percent to 4 percent. As of end-March, the national government’s outstanding debt has hit a new record-high of P12.68 trillion as borrowings continued to pile up as the pandemic scarred the economy. The national government’s debtto-GDP ratio has also risen to a 17-year-high at 63.5 percent, above the internationally recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines. This is also the highest since the country’s debt-to-GDP ratio hit 65.7 percent in 2005 under the Arroyo administration. Bernadette D. Nicolas

Regulator inaugurates Pagcor Village in Batangas

PAGCOR Chairman and CEO Andrea Domingo (seventh from left) and Lemery Mayor Geraldine Catapang-Ornales (fifth from left) lead the inauguration of the newly built Pagcor Village project in Lemery, Batangas. They are joined by other officials from Pagcor and LGU, as well as some recipient families of the housing project.

EMERY, Batangas—A year after commencing its construction, the Philippine Amusement and Gaming Corp. formally inaugurated last May 23 the first Pagcor Village to be completed in Batangas province. The housing project worth P30 million was funded by the state-run gaming firm to provide safe housing for indigent families who were displaced by the eruption of Taal Volcano in January 2020. Lemery was one of the municipalities in Batangas that received

Pagcor funding for construction of permanent shelters outside of permanent danger zones, as declared by the Philippine Volcanology and Seismology. Pagcor Chairman and CEO Andrea D. Domingo, who led the inauguration of the Pagcor Village in Lemery, underscored Pagcor’s role in nation-building, especially in areas that need its help the most. “Pagcor, as a government entity was not only created to operate and regulate games of chance but to also ensure that the revenues from regu-

Insurer expands targets for financial literacy tack

HE Manufacturers Life Insurance Co. (Manulife Philippines) announced that more than 500 attendees from six schools participated in the firm’s financial literacy webinars held in partnership with the Corazon Sanchez Atayde Memorial Foundation (CSAMF). In a statement issued last May 23, the insurer said that through the webinars, employees from Manulife Philippines and Manulife China Bank Life Assurance Corp. (MCBL) taught lessons covering basic financial concepts such as saving, budgeting and investing. The participants were from these schools: Gubat Elementary School in Albay; Guisad Valley National High School in Baguio; Pembo Elementary School in Makati; Bambang

in the same month last year. Infrastructure spending grew largely due to the payment for completed infrastructure projects of the Department of Public Works and Highways nationwide, the Revised Armed Forces of the Philippines Modernization Program and the Basic Education Facilities and payment for deliveries of Department of Education’s learning tools and equipment. In March, overall government spending jumped by 18.1 percent year-on-year to P481.5 billion from P407.6 billion. For April and May, the DBM said it expects disbursements to

ents, who play an integral role in helping advance financial literacy,” Henson was quoted in the statement as saying. “By empowering communities to embrace the importance of managing personal finances, we can guide more Filipinos on how to be smarter with their money and financially secure their future.” “Partnering with Manulife Philippines has given us a better understanding of the country’s current state of financial literacy,” CSAMF Executive Director Margaux Romero Atayde was quoted in the statement as saying. “We saw how the program has helped the families of the children and the teachers from the schools become smarter with their finances, especially during the pandemic. We are happy to continuously

work with Manulife in expanding our program so we can help change young Filipinos’ lives.” Manulife Philippines launched its financial literacy program in 2017 as a series of face-to-face classes dedicated to teaching the importance of saving and investing to students in public elementary schools. During lockdown measures against Covid-19, it redesigned the program to address the demands of remote learning and expanded to more schools nationwide. The program has also been extended to university students to teach the importance of insurance, investments and financial planning. More than 400 students have graduated from the program since its inception, according to Manulife Philippines.

lated gaming is channeled back to our country’s coffers and other vital programs of the government,” she said. “This Pagcor Village is just one of our many CSR programs, whose major aim is to give Filipinos a better life, in your case, a safe haven from the possible hazards caused by the Taal Volcano eruption,” Domingo added. Meanwhile, Lemery Mayor Geraldine Catapang-Ornales, who graced the event profusely thanked the agency for bankrolling the construction of the residential facility.

PAGCOR Chairman and CEO Andrea Domingo addresses the families who were awarded with housing units in the first Pagcor Village to be completed in Batangas.

“Sa ating mga beneficiaries, nawa’y patuloy ninyo itong ingatan at pahalagahan. Kayo po ay sobrang blessed dahil sa inyo ito ipagkakaloob. Ito po ay aangkinin na ninyo at dapat lamang ito’y mapahalagahan,” she noted. The Pagcor Village in Lemery is located Barangay Talaga, one of the two communities in the town, which received funding from the state-run gaming agency. The other recipient municipalities in Batangas that will soon unveil their respective Pagcor Village projects are Taal, Agoncillo, Balete and Mataas na Kahoy.

Bayad to accept Meralco bills payment via Cebuana

OCAL payment-platform provider CIS Bayad Center Inc. (Bayad) announced it would allow payment of bills by customers of Manila Electric Co. (Meralco) in more than 3,000 branches of Cebuana Lhuillier Services Corp. “[Our] partnership with Cebuana Lhuillier ultimately amplifies our vision of elevating the quality of living of Filipinos as we usher in more real time bills payment services,” Bayad President and CEO, Lawrence Y. Ferrer was quoted in a statement as saying. “We are committed to empower businesses like Cebuana Lhuillier by sharing our vision and strategy in advocating for digital financial inclusion.” “Cebuana Lhuillier has always been committed to offer convenient micro financial solutions to our clients, and

partnering with the biggest and widest multi-channel payment platform in the country will surely optimize one of our essential services,” Cebuana Lhuillier President and CEO Jean Henri D. Lhuillier also said through the statement. “As we continue to expand our network and improve our digital payment facilities, we will provide our clients more convenient options for their bills payment needs.” According to Bayad, apart from Meralco, Cebuana Lhuillier “targets to onboard more biller brands through Bayad’s extensive network of biller partners that will eventually extend across Cebuana Lhuillier’s digital platform, enabling an easier, more efficient, more convenient and seamless one-stop shop solution for its clients.”

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www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, May 25, 2022

It should have been an e-mail Trusting societies are overall happier— a happiness expert explains why By Benjamin Radcliff University of Notre Dame HUMAN beings are social animals. This means, almost as a matter of logical necessity, that humans’ quality of life is largely decided by the quality of their societies. Trust is one key factor that helps shape societies— specifically, if individuals feel a basic level of trust in others, outside of their immediate friends and family, they are happier. People lead better, happier and more satisfying lives when people in their communities share high levels of trust. Finland is the the happiest country in the world, for the fifth year in a row, according to the latest annual United Nations World Happiness Report, released in April 2022. The report uses data from Gallup world polls and measures the way people feel about their lives. It is not a coincidence that Finland also has one of the world’s highest levels of trust among people, known as interpersonal trust. “Research has linked trust with economic growth, democracy, tolerance, charity, community, health, and happiness,” Lane Kenworthy, a political scientist and sociologist, writes. As a scholar of happiness, I have written extensively about the nature and causes of happiness. My work, and research by others, confirms the general idea that greater levels of trust among people lead to more happiness. There are specific reasons trust and happiness are so deeply connected. HOW TRUST ENCOURAGES HAPPINESS THE first reason is that people’s quality of life improves when they can reasonably assume the goodwill of others in their day-to-day lives. This kind of generalized trust may also promote other, more specific kinds of trust, such as trust in government. In Finland, trust in other people—and in public institutions—is exceptionally high. In 2019, Finnish people reported high levels of trust in police, the government and one another. Only 2.8 percent of people reported that crime was a major worry, demonstrating a lack of concern about trusting other people. Denmark, Iceland, Switzerland and the Netherlands followed Finland as the happiest countries in 2021, according to this analysis. Like Finland, these countries have extremely high levels of both trust and happiness. In a high-trust environment, people go about their lives with the easy assurance that others around them are generally honest and even benevolent. These sorts of strong human connections have been shown to promote happiness. By comparison, in a low-trust environment, people are suspicious. They feel they must always be on guard, in case other people attempt to deceive, exploit or take advantage of them. Afghanistan ranked as the least happy country in the 2022 World Happiness Report. In 2019, two years before the Taliban overtook the country, Afghans reported feeling low satisfaction in public services like water quality, roads, health care and education. Most of those surveyed in Afghanistan also said in a 2019 Gallup world poll that corruption in government and business was endemic. It takes no great insight to understand why high-trust societies tend to be happier than places where trust is low. People find it easier to build or strengthen connections to others when they generally trust everyone, from their acquaintances to their spouses. EMOTIONAL ENERGY TRUST also promotes happiness in more subtle ways. Everyone has a limited amount of emotional energy. The more trusting a society is, the fewer emotional resources we must devote to everyday interactions. The less someone has to worry about being pickpocketed, for example, the more emotional energy they have available to spend time nurturing relationships with family, friends, coworkers and neighbors. Research has shown that investment in community and these kinds of relationships is likely to pay off in the form of a happier life. EQUALITY MATTERS FINALLY, it is also important to consider how happiness is distributed among individuals across society. This is known as happiness equality. Evidence strongly suggests that lower levels of happiness inequality within a society promote higher levels of average life satisfaction. The more equal a society’s distribution of happiness, the happier people tend to be. So if more trust produces more happiness equality, and more happiness equality means higher levels of happiness itself, then trust should, once again, promote greater happiness. A variety of factors are at work behind this connection. The most obvious one, perhaps, is that people generally care about the well-being of others. Efforts to reduce inequality of happiness are likely to raise happiness for all. This dynamic creates a cycle—the more we take the happiness of others into consideration, the more we appreciate life. THE CONVERSATION

ITH the proliferation of apps for team collaboration, it is ironic that we are constantly bogged down with meetings which could have easily been an e-mail. In our desire for connectivity and instant results, we often forget that not all work needs to be discussed by the entire team. Your role as a people manager is to ensure everyone has visibility on what other people on your team are doing; at the same time, it is incumbent on you to check that the right people are given the right tasks. Poor resource management often results in endless meetings, confused members, and inequalities in work distribution. To guarantee that your team’s deliverables are done efficiently, you need to know when to call for a meeting and when to e-mail so that you do not waste your team’s time. You need to avoid meetings that could take half of the day because that means your team will have to do overtime to cope with the workload, or worse, they will have to take their work home. To avoid this, you need to distinguish what can be sent as an e-mail, and when to call for a meeting. Given that most people are already reporting to their offices, what is interesting is that people still do their meetings online. I know physical meetings are not yet allowed under certain conditions but it is a bit amusing when there is a team meeting and everybody jumps on a call even if their workstations are beside each other. The rule of thumb is that if the meeting cannot be 30 minutes or less, then do not call for a meeting whether online or physical. Limit it to half an hour to reduce Zoom fatigue which has been shown to be more mentally draining than face-toface meetings. People seem to have forgotten that connectivity does not mean availability. We need to rest in between meetings and even more time doing actual work than being trapped in meetings. Also consider the cost of holding the meeting. Harvard Business Review created a meeting calculator (also available via the app Meeting Cost Time/Calculator) where a meeting’s actual cost can be computed using the salary of the attendees, how long it will run, and the number of attendees. This will give you an idea of how much the meeting will cost the organization, and will help you decide if you really have to call for one. You might be surprised that some of your weekly meetings actually cost your organization more money than some of your expenditures. If there are more than five attendees to the meeting, cancel it and then just send an e-mail. Practically speaking, the more people there are in the meeting, the higher the chances that one person or more will tune out and not significantly contribute to the meeting. Of course there are committee meetings where all members need to be there for decision-

making or information, but as much as possible, limit meetings to five attendees to ensure everyone in the meeting actually contributes to the discussion. And if the meeting needs to be attended by executives and senior managers, consider the meeting cost so you can limit it to less than 30 minutes. You need to hold a meeting when an announcement will affect the entire group. You can prepare a briefer on the changes and a frequentlyasked-questions list, so you already have a ready reference for what they might have thought of in the meeting. During the meeting, provide a short introduction of the changes and then ask your team for questions that have not been answered by the documents provided previously. In similar scenarios, you can hold a meeting to gather immediate feedback on materials that need an urgent response from your team. Send the document through e-mail with instructions that you will call a meeting to consolidate comments and feedback from them. This way, everyone can prepare before joining the meeting. Updates on specific project status can also be sent via e-mail especially if the report is detailed and comprehensive. You can call for a short meeting on updating of project status but only insofar as knowing which project you need to closely monitor so you can set a separate meeting to discuss further. It would be a waste of time meeting with your entire group when they could have been doing their work instead. Before, I would send out a weekly report of my team’s

NUTRITIOUS and delicious Clem’s Fruit Juice and Shakes in cucumber, mango, fresh buko, watermelon, melon and avocado

accomplishments to my manager the week before and we would meet to discuss only those that are in the red and come up with solutions to address them. This way, she was able to focus on helping those teams that actually needed her help. If you need specific information and definitive answers where people have to check their documents, send out an e-mail with a due date. In setting a meeting, you need to have a clear agenda of why there actually needs to be a meeting in the first place, and you need to schedule it in advance so the attendees can prepare adequately. If you can, consider also that a 30-minute meeting for a manager may not have the same effect for your team members. For example, a content developer who is creating an online module will need a chunk of her time in doing the course. If you call for a meeting in the middle of her creative process, it forces her to shift focus on the meeting and what she needs to prepare for the meeting. If a meeting does not have any clear agenda, clarify first what you want to accomplish so the meeting is not wasted on tautologous discussions. As a people manager, your role is to ensure your team continues to do their work smoothly, and with as little interruptions as possible so they can focus on what they need to do. While technology provides platforms for effective teamwork, it can only do so much. Collaboration apps should help you focus better on doing actual work, than waste your time on meetings that should have been an e-mail. n

FRIENDS and families enjoy an outdoor picnic at The Strip at Wind, SMDC Wind Residences, Tagaytay City

Chilling out at the Wind FUN, food and entertainment highlighted the recent “Chill at Wind” festival at The Strip of SMDC’s Wind Residences (www.facebook.com/SMDCTheStrips) in Tagaytay City. Organized by SMDC Commercial Properties, the festival was a series of enjoyable outdoor activities for families and friends, delicious food fair and exciting live performances marked by the cool breeze and comforting ambiance of Tagaytay’s weather. The event also highlighted The Strip At Wind, a new place in Tagaytay to hang and chill out, transformed into a festive and relaxing outdoor event place just as the economy has started to open up. During the festival, foodies enjoyed a wide array of sweet and savory choices from food trucks like Chino Latino, Tacolicious and CM Ice Scramble, and refreshments from pop-up stores such as Clem’s Fruit Juice and Dream A Latte. There were also comfort food options to satisfy one’s

cravings, from Pizza Kanina, Grab ’n Go, Hime’s Takoyaki, Grabstreat, Steak Garage, to Chichagos, Munch Egg Dop, Ka Tunying’s. There were also fun fashion finds from Kokay Fashion for those in need of some retail therapy. Residents, visitors and local tourists sweated it out in the energetic zumba sessions with ZST Dance Studio. Likewise, kids were surprised with special creative activities, such as free face and body painting as well as balloon-twisting by Zen Events. As the sun went down, music came alive with live acoustic performances by Dino Robles, Jaime Kliatchko, Jam & Thirdy and other talented artists entertaining music lovers of all ages. SMDC Wind Residences is an hour’s drive south of Manila into the lush beauty of Tagaytay. Experience a vacation within your own condo at SMDC Wind Residences as you enjoy the country club amenities like the clubhouse, indoor and outdoor swimming pools, tennis court, and basketball court.

In addition, the signature five-star amenities in Cool Suites Tagaytay located also in Wind Residences makes it a perfect holiday home for those who enjoy cool winds and cozy weather. The Strips at SMDC are strategically-placed commercial strips, complete with stores that cater to residents and visitors of SMDC condominiums. These retail strips provide residences with easy access to all things important such as grocery, pharmacy, laundry, grooming and other personalized services, banks and restaurants providing utmost convenience that cater to residents’ basic needs and wants. “This is just the beginning of a series of fun-filled activities and exciting new attractions we have prepared for the Tagaytay community and its visitors,” says Royston Cabuñag, assistant vice president of SMDC Commercial Properties. “We invite everyone to make it your new go-to destination in Tagaytay.”

PHOTO BY KRSTO JEVTIC ON UNSPLASH

B6 Wednesday, May 25, 2022

‘Keep the Fun Going’ sustainable tourism campaign comes with gamified challenges

Go all out and take on Under Armour’s All Out Mile international challenge

NDER Armour brings the internationally-renowned All Out Mile to the streets of the Philippines in time for its brand house launch and announces their shoegiving initiative in partnership with SM Foundation Craving for a new challenge? This might just be for you as Under Armour finally brings the All Out Mile international challenge to the streets of the Philippines in celebration of Global Running Day! Be one of the first to join and experience what it takes to train like a champ, and go head-to-head for the coveted Fast Miler spot from June 1 to 5! If you’re a newbie just tick off your bucket list and seize the opportunity to reach your max potential with a 30day period of training with professional athletes and coaches, ready to help you kick-start and navigate your running journey, until May 31. Under Armour just opened its biggest store in the Philippines at SM Mall of Asia, on the 2nd Level of its South Entertainment Mall, last May 12, 2022. Under Armour Manila is a 460 sqm

space using the Global Brand House City concept, houses an extensive product assortment in categories of training, basketball, running, and lifestyle. Under Armour Philippines has also partnered with SM Foundation to share the gift of giving. For every new sign up to the Under Armour All Out Mile challenge, Under Armour will donate 500 pesos to the Share Shoes project.

Competition Guidelines

THE competition period runs from June 1 to 5. To be eligible for submission and grand prizes, participants have to log runs on the MapMyRun app during the competition window period of June 1 to 5. Participants can view leaderboards by signing up in FitRankings. For result updates, link the UA MapMyRun account with FitRankings. Winners will be announced on June 10.

The Prize Categories

THE top three fastest Male and Female Milers from the participating region (Singapore, Malaysia, Thailand, Australia, New Zealand, the Philippines & Indonesia),

will each get a UA gear worth $250 and a prize amounting: 1st place: $1000, 2nd place: $500, and 3rd place: $200. The team from the region with the highest number of registered competitors in the All Out Mile event will be granted a sum of $10,000 to be donated to a sports charity of their choice. By participating, runners will receive a three-month MVP membership to UA’s MapMyRun for free when they use the code: AOM2022. The benefits include exclusive training programs, video tips and tricks, and a run tracker to better navigate and fully prepare for the competition. Throughout May, virtual training will be available, and members can visit the Under Armour Brand Houses and join sessions conducted by the Run Crew, where they can test out a training gear essential- the latest UA running shoes, specifically designed to help athletes unlock their maximum potential through comfortability and performance. Join for free via MapMyRun through Apple App Store, Google Play, or the UA website.

Pacific Cross receives ISO 9001:2015 certification

EADING medical and travel insurance provider Pacific Cross Insurance, Inc. achieved the International Organization for Standardization (ISO) 9001:2015 certification, a globally recognized standard that specifies requirements for an organization’s quality management system. To consistently provide customers

with high-quality products and services, Pacific Cross follows the 10 clauses of ISO 9001:2015. The clauses state the requirements for various aspects of maintaining a quality management system including leadership responsibility, planning, resource management, customer communication, customer satisfaction, and continual improvement. The certification was

given after the company passed the quality audit conducted by QAS International, an ISO-accredited certification company. “This stamp of approval from ISO is a testament to our commitment to maintaining a high standard of service delivery for all our customers,” shares Mr. Victor Tanjuakio, President and CEO of Pacific Cross. “By implementing business processes that meet ISO quality standards, we are confident that our company is equipped to help customers protect what they value most.” Through strict compliance with ISO 9001:2015 requirements, Pacific Cross continues to improve profitability, company value, customer satisfaction, employee well-being, document availability, internal communication, and regulatory compliance. Likewise, maintaining the ISO certification is one of the Company’s ways to reduce risks within the organization and grow market share in new business. “Securing the ISO certification is a milestone that strengthens our position in the insurance industry. As a medical and travel insurance provider, we protect the trust that our customers have given to us by aiming for continuous improvement of product and service quality so we can always meet or exceed customer expectations,” says Ms. Celia Imperial, Head of Special Projects, Pacific Cross Group and Project Lead - ISO 9001:2015 Certification For information on Pacific Cross products and services, visit www. pacificcross.com.ph.

HE Department of Tourism (DOT) launches the second phase of the Save Our Spots (SOS) campaign titled, “Keep the Fun Going”, to encourage tourists to practice eco-friendly travels. The campaign builds on the gains of the SOS phase one that was launched in 2019 to educate travelers about becoming responsible tourists. “Keep the Fun Going” aims not only to educate but also motivate travelers to take part in sustainable tourism practices, mainly through gamified challenges. “The DOT has been integrating sustainable tourism principles in its projects, programs and policies, even involving tourists to be part of these efforts. Through the SOS campaign, we aim to raise awareness about responsible travel and emphasize that every small act goes a long way to ensure that future generations will continue to benefit from and enjoy nature’s abundance,” said Tourism Secretary Berna Romulo-Puyat. To inspire more tourists to practice sustainable travel, the campaign will highlight a gamified experience featuring four ecofriendly ways to travel. The challenges will be demonstrated through collaboration with local key influencers, after which, the public will be enjoined to accomplish at least two of the four activities. The “Certified Foot Soldier Challenge” encourages travelers to walk, hike, or bike more often; while the “Zero-Waste Warrior” inspires travelers to reduce waste

LOBOC River Cruise, Bohol. Photo by DOT by avoiding single-use plastics and always bringing reusable water bottles, utensils, and shopping bags. The “resTOURism Advocate Challenge” encourages tourists to volunteer in restoration efforts of communities, such as planting activities, clean-up drives, and wildlife preservation; and, the “Eco-Staycationer Challenge” that motivates tourists to book in eco-friendly accommodations, such as local homestays or Participants will have a chance to win by completing at least two challenges and posting them on social media. Join the #KeepTheFunGoing movement and be an eco-warrior. To learn more, visit philippines.travel/saveourspots.

Skin Summit 2022 marks Skin Awareness Month

N the Philippines, Cetaphil is bringing to the country for the first time Skin Awareness Month—the culmination of Cetaphil’s research into the science of gentle skincare, offering a chance to discover the breakthroughs and acquire specifically formulated products to care for all types of sensitive skin. It is part of the brand’s unwaveringly passion for providing complete care for sensitive skin; the Skin Awareness Month offers first-hand access to experts and science-driven recommendations to educate consumers on how best to care for their sensitive skin with a unique routine tailored to them. The annual event started 2021, eventually expanding across the Japan-Asia Pacific region before reaching the Philippines this year. “As a leader in sensitive skin for over 75 years, we are even more committed to delivering cutting-edge products to advance dermatological care for every skin story,” says Jade Silva-netto Ponoc, Galderma Philippines Business Unit Head. The main highlight of this year’s Skin Awareness Month is the Skin Summit, where Dermatologists and skinthusiasts share knowledge and experience across three days of themed discussions: On May 25, a board-certified Dermatologist and member of the Philippine Dermatological Society, Dr. Francesca Sy-Alvarado, discusses sensitive skin and acne, along with Bianca Gonzalez, Maggie Wilson, and Patricia Prieto, who will discuss routines for sensitive skin. On May 26, a board-certified Dermatologist

and member of the Philippine Dermatological Society, Dr. Jarische Lao-Ang, discusses the healthy way to brighten skin, along with Bea Alonzo, Laura Lehmann, Anne Curtis, and AC Bonifacio, who will discuss lifestylecentric skincare Finally, on May 27, a board-certified Dermatopathologist and a member of the Philippine Dermatological Society, Dr. Mara Evangelista-Huber, discusses the right foundation for baby’s skin health, along with hands-on parents Solenn Heussaff & Nico Bolzico. Relevant topics on healthy food, play and sleep will also be tackled as Nikki Gil, Mariel Padilla, Patrick and Nikka Garcia share their experiences as they learn and choose the healthy start their babies deserve. Every skin story deserves the best care— Skin Awareness Month 2022 is also packed with promos and other free on-ground activities for every type of skinthusiast. To learn more, follow @CetaphilPH on Instagram and Cetaphil Philippines on Facebook for more details. Cetaphil products are available in Mercury Drug, Watsons, and leading drugstores and supermarkets nationwide. You may also check out the official Cetaphil Philippines stores in Lazada and Shopee. Access to the Skin Summit is free— interested participants may register via https://www.booths.virnew.com/events/ cetaphil-2022/register. Reserve slots and avail of exclusive perks on Cetaphil products and other promotions during #SkinAwarenessMonth.

Tristate changes name to DragonFi Securities Inc.

EEDRAGON Global Corporation has received the approval of the SEC (Securities and Exchange Commission) for the change of the corporate name of its wholly owned subsidiary from Tristate Securities Inc to its new corporate name DragonFi Securities Inc. BeeDragon Global Corp's acquisition of Tri-State Securities Inc was approved by the Philippine Stock Exchange (PSE) last November 2021. DragonFi aims to provide everyone with transformational investment platforms that will provide fast, reliable, and secure trade executions to the Philippine equity market. It also intends to provide exclusive digital financial tools and content that is timely, enriching, and easily digestible that can help its customers improve investment outcomes. By leveraging best-in-class investment technology, DragonFi will provide the most advanced web and mobile applications that will satisfy both neophyte and discerning investors alike. DragonFi intends to launch its leading edge platform by the 4th quarter of 2022. BeeDragon Global Corporation is a joint venture between Honeystar Holdings Corp., Injap Investments Inc., and the group of Mr. Jon Carlo Lim. BeeDragon Global Corp will be the corporate entity that will house the group’s fintech-related endeavors. DragonFi Securities Inc will form the cornerstone of the firm’s aspirations to elevate

the retail investment space in the country. BeeDragon will be managed by Mr Jon Carlo Lim as President and CEO, Ms Cathryn Ann Lao as Director and Chief Technology Officer, Mr Edgar Injap Sia II as Chairman and Mr Tony Tan Caktiong as Co-Chairman. “We believe that harnessing the power of technology in a financial services context can be a force for good. Currently, less than 2% of the Philippines’ working-age population has a stock brokerage account. By making investing convenient and effortless, we hope to broaden participation in the capital markets, one of the key builders of wealth. We aspire to democratize personal finance in a meaningful way by leveraging best-in-class investment technologies. It is our intention to provide wealth-building tools to effect the dispersion of economic prosperity to more Filipinos,” said BeeDragon President and CEO Mr Jon Carlo Lim. “Mr Tony Tan Caktiong and myself carefully select the specific business and industry we invest in, and we see this venture to have significant long-term growth potential, and as an important strategic addition to the ecosystem that we are building out for the past several years since our first partnership in Mang Inasal, and our succeeding partnership in DoubleDragon. Over the long term, we also see the FinTech space creating the synergic gel that would enhance and bring benefits to the various other business units in our ecosystem,” said BeeDragon Chairman Edgar Injap Sia II.

BusinessMirror

Editor: Tet Andolong

Wednesday, May 25, 2022 B7

Young, Solo Renters Outside NCR

Contribute to CBD Rental Demand

amudi data for the first quarter of 2022 found that the top sources of leads for rentals in Makati, Pasig and Taguig were roughly split between property seekers within and outside Metro Manila. Four out of the top 10 sources of leads for each aforementioned city with a central business district (CBD) were cities located outside the National Capital Region (NCR). Six out of the top 10 sources of inquiries for Makati, Pasig and Taguig were from cities w ithin Metro Manila, with Quezon City and the City of Manila contributing the most leads in each. The remaining four in each CBD assessed varied. At least two cities from Mega Manila, such as A ngeles, Antipolo, Bacoor, Calamba, and Lipa, were among the top sources of leads in each of the CBDs assessed.

CALABA seekers likely renting solo Property seekers from the CALABA cities are likely to be looking at renting in the aforementioned CBDs for work. Pull factors such as the comparably larger number of job opportunities at the several IT-BPO companies and large corporate headquarters based in Metro Manila CBDs continue to be a major driver of rentals. L a mud i d at a f rom 1Q 2022 showed that the majority of inquiries from seekers from Bacoor, Calam-

ba and Lipa looking for rentals in CBDs were for rooms to rent, bed spaces and studio units—smaller spaces that point to seekers wishing to rent solo or share spaces with roommates, as opposed to renting as a family. Seekers from these cities are also younger, with all leads coming

from seekers aged 18 to 34. On the other hand, inquiries from Metro Manila-based seekers were mostly for 1-bedroom, 2-bedroom, and studio units. L ead s f rom Met ro Ma n i l a based seekers were also heavily concentrated in condominium units whereas leads from Lu-

zon-based seekers outside NCR were more evenly distributed between apartments and condominium units.

IT-BPO workers urged to return onsite Employees of information technology-business process

outsourcing (IT-BPO) firms, an industry employing roughly 1.3 million Filipinos, were affected by Fiscal Incentives Review Board (FIRB) calls for ecozone locators to return to full office operations by April 1 in order to avail of tax incentives. The mandate coincides with spikes in residential rental inquiries for CBD listings on Lamudi in 1Q 2022 from both inside and outside Metro Manila—possibly driven by employees returning from their hometowns and seeking rentals nearer to their office. “While this offers promising opportunities for real-estate players, it also presents challenges, primarily in making commercial spaces appealing to employees who have become used to working from home,” Lamudi CEO Kenneth Stern said. For the latest real-estate industr y news, trends and tips, visit https://www.lamudi. com.ph/journal/ or register to Lamudi Link.

SHDA members feted as top-performing Bpo-friendly office towers anticipate surge in take-up in next six months real-estate developers by Pag-IBIG Fund

By Roderick L. Abad

W EN T Y-T WO members of the Subdivision and Housing Developers Association Inc. (SHDA) were recently recognized as top-performing real-estate companies in the Pag-IBIG Fund Virtual Stakeholders’ Accomplishment Report (StAR) for 2021. The StAR is a yearly event conducted by the state-owned Home Development Mutual Fund or Pag-IBIG Fund in five major regions in the country to honor the stakeholders, service partners, employers, and top developers for their significant contributions to its continued growth. SHDA members Raemulan Lands, Axeia and Basic Housing, Apec Homes, Homemark Inc., Charles Builders Group of Companies, CenQhomes Development Corp., 8990 Housing Development Corp., DDC Land Inc., and Phinma Properties claimed the leading nine spots respectively for Top Developers in the National Capital Region (NCR) for 2021. Raemulan Lands was named “best performing loans ratio,” while CenQhomes Development Corp. bagged the “best performing accounts ratio” and “best performing conversion” awards in the NCR. Included in the top developers for North Luzon were Hausland Group (Top 2), Borland Development Corp. (Top 4), 8990 Housing Development Corp. (Top 5), Apec Homes (Top 7), and P.A. Alvarez Properties/Ventures Inc. (Top 9). Publicly listed 8990 Housing Development Corp. got the “best performing loans ratio” award, while Borland Development Corp. was cited the “best performing conversion.” Meanwhile, Lynville Land Development Corp., which won the “best performing conversion” award, was hailed as the top developer in South Luzon along with Apec Homes (Top 3), Pueblo De Oro Development Corp. (Top 9), and P.A. Alvarez Properties / Ventures Inc. (Top 10). In Visayas, the members of the alliance of private housing developers which dominated the region were 8990 Housing Development Corp. (Top 1), Saekyung (Top 3), Johndorf Ventures Corp. (Top 5), Cebu Land Masters Inc.

(CLI) (Top 7), Megacrown Realty and Development (Top 8), and Deo Homes Property and Development Inc. (Top 10). The “best performing loans ratio” award went to CLI, while the “best performing conversion” accolade was bestowed to Saekyung. For Mindanao, 8990 Housing Development Corp. emerged as the top developer along with Johndorf Ventures Corp. (Top 2), VCDU Realty Corp. (Top 3), Davao Joyful Homes Realty Corp. (DJHRC) (Top 5), and Phinma Properties (Top 6). The “best performing loans ratio” award was given to DJHRC. “I would like to reiterate the commitment and partnership of SHDA with HDMF in the fulfillment of our common goal of providing sustainable, resilient, affordable, and decent housing and communities to improve the lives of Filipinos and support our development goals and objectives,”SHDA President May Rodriguez said. Pag-IBIG Fund highlighted in the virtual event its successful initiatives to help its members, stakeholders, and the nation to bounce back from the many challenges that the ongoing pandemic continues to bring. It continues to push measures it undertook last year to assist its members in recovering from the effects of the Covid-19 pandemic on their livelihoods, according to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti. “From one banner year to another, we have seen the biggest improvements in our operations and the programs we offer to our members these past five years. We have accomplished all our record-high achievements because our dear stakeholders have always been beside us, always involved in building a better Pag-IBIG Fund for the stakeholders it serves. Because we work shoulder to shoulder, we thrive, even amidst a once-in-a-lifetime pandemic to reach even greater heights,” he said. The fund’s housing loan take-out went up to P97.28 billion in 2021. Adding to it the housing loan interim release worth P3.5 billion, the total housing loan releases reached P100.8 billion last year. “Thank you to all of our partner developers for your continued support. As our partner developers become stronger, we become much bigger,” Moti said.

fter two pandemic years, the Philippine office market seems ready to grow more briskly as indicated by 358k sq m of live requirements or ongoing transactions likely to be concluded within the next six months, according to a study by Leechiu Property Consultants (LPC). “Live requirements for office space are the highest they have ever been in any quarter since Covid-19 took its toll and IT-BPM-friendly spaces are likely to be among the first to benefit from this resurgence,” observes Mikko Barranda, director for Commercial Leasing of Leechiu Property Consultants. Of the 358k sq m of live requirements, 195k sq m are from IT-BPMs driven by companies in the West now implementing post-pandemic plans that focus on outsourcing. Peza-accredited buildings with large floor plates in strategic locations like Ortigas Technopoint Two along Julia Vargas are already experiencing high levels of inquiry for its few available spaces. Barranda explains that the building’s exceptional floor plates that are typically 4,000 sq m mean greater floor efficiencies. This allows a 1:5 density ratio or one person for every 5 square meters of space and has been key in

PEZA-accredited buildings with large floor plates in strategic locations like Ortigas Technopoint Two along Julia Vargas are already experiencing high levels of inquiry for its few available spaces.

attracting established IT-BPMs to locate there. In pre-Covid times up to now, IT-BPMs are driven to keep their costs low in order to remain competitive, according to Miguel Manipol, LPC director for Commercial Leasing. At the same time, they seek to provide a conducive and convenient work environment for the many

workers they employ. Work places like Or tigas Technopoint Two, which is highly accessible via public transportation from the residential communities of Quezon City, Pasig City and Mandaluyong City, are thus preferred locations, Manipol says. The building, is also accessible to a 6-story parking facility to

meet the requirements of locators and guests. Additionally, it offers branding rights and ground floor space for recruitment purposes to tenants who will take up spaces in the second and third floors. Another attraction of Ortigas Technopoint Two is its proximity to retail and recreation sought after by IT-BPM workers who get together before and after work and keep surrounding establishments active and lively. “Especially now that the industry employs 1.8 million nationwide, IT-BPMs seek work environments that are part of mixed-use communities to retain their employees,” points out Barranda. With office vacancy in Metro Manila now at double-digit levels in most districts, Barranda notes that landlords have responded by offering more competitive rental rates. IT-BPMs realize that the Philippine office arena has transformed into a tenant-dominated market in post-pandemic times. “This fuels further our optimism that they will soon make their presence more felt than ever in the Philippines,” says Barranda.

Yakult El Salvador breaks ground for its plant in Misamis Oriental

lberto R. Dy Sun President of Yakult Philippines Inc., together with Mayor Edgar Lignes of El Salvador City, Misamis Oriental, headed the groundbreaking ceremony of Yakult El Salvador (Y.E.S) plant recently, at Barangay Quibonbon, El Salvador City, Misamis Oriental, Mindanao. The event was also attended by the executives of Yakult Philippines Inc. and CCT Constructors Corporation. The project, which started back in 2021, is set to rise on a 4.2-hectare property, is considerably larger than the plant located in Calamba, Laguna. The Yakult El Salvador plant is meant to fulfill the demand for the iconic drink and start the expansion of its production to Visayas and Mindanao. It targets to significantly increase the total daily product production of both Yakult original and the Yakult Light.

The Y.E.S Groundbreaking ceremony at El Salvador City, Misamis Oriental: (from left: Yakult Philippines Inc. (YPI) President Mr. Alberto Dy Sun, Executive Vice President Mr. Hiroshi Suzuki, YPI Vice President Mr. Michael Ong, CCT Constructors Corporation Chairman Mr. Hiroki Nakazawa, El Salvador City Mayor Edgar Lines).

Cayetano praises Filipino athletes’ SEAG performance

ENATOR-ELECT Alan Peter Cayetano congratulated the national team for bagging fourth place at the 31st Southeast Asian Games in Vietnam which ended Monday. “Our athletes gave their all to bring pride and honor to the country,” Cayetano said. “A big congratulations to our athletes on winning fourth place for our country.” “Thank you for pouring your heart, mind, and soul onto the SEA Games,” he added. The Philippines composed of 981 athletes, coaches and officials which hauled 52 gold, 70 silver and 104 bronze medals for a total of 226. Host Vietnam emerged on top with 205-125116 gold-silver-bronze followed by Thailand with 102-93-126 and Indonesia with 61-9181. Singapore was fifth with 47-46-73 and Malaysia sixth with 39-45-90. “All things considered, we did very well in the SEA Games,” Cayetano said. “We have to remember our athletes were on and off during training because of the pandemic. And to put it in perspective, this is biggest medal when our athletes are competing overseas.”

HE country has nothing to be ashamed of over its overall performance at the just concluded 31st Vietnam Southeast Asian Games, Philippine Sports Commission William “Butch” Ramirez said on Tuesday. “It was a good finish considering the challenges Filipino bets had to face in the build-up to the meet,” he added. The 31st SEA Games closed on Monday with Vietnam handing over the hosting chores to Cambodia, which will be bringing the biennial games to its shores for the first time in May 2023. “Our performance in bringing home 52 gold, 70 silver, and 104 bronze medals in placing fourth overall in the medal standings was a good finish despite the various challenges our national athletes had to face amid the Covid-19 pandemic before competing in Vietnam,” Ramirez said. “It would have been a very good finish had we converted 50 percent of our silvers (to gold) and bronzes (to silver),” said the PSC chief, who closely monitored Filipino athletes from the PSC offices in Manila and Pasig City throughout the games. He pointed out that funding training programs to develop elite athletes for international competition was expensive. “You need money for coaches, both local and foreign, airfare, transportation and hotel for international exposure to season them, plus the logistical support like proper nutrition, sports psychology, and medicine for athletes discovered abroad or locally,” he said. As a PSC official who began his stint as commissioner in 1998 then as chairman for the first time from 2005 to 2009 and again as chairman from 2016 to the present, he said that short-term programs to nurture top athletes took at least four years and

Sports

COACH CHOT: I SERVE AT THE MERCY OF SBP

BusinessMirror

| Wednesday, May 25, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

GOOD JOB, TEAM PHL –RAMIREZ VIETNAM Minister of Culture, Sports and Tourism Nguyen Van Hung (right) hands over the Southeast Asian Games Federation flag to Cambodia Minister of Tourism of the Royal Government Thong Khon during the closing ceremony of the 31st SEA Games in Hanoi on Monday night. Cambodia will host the next SEA Games in May 2023. AP

PHILIPPINE Sports Commission William “Butch” Ramirez hugs the overall championship trophy the country earned in the 2019 Southeast Asian Games. they would need a minimum of 12 years to be world-class. Weightlifter Hidilyn Diaz was a wildcard entry at 17 in the Beijing 2008 Olympics, then won a silver in Rio 2016 before finally delivering the country’s first gold medal in Tokyo last year when she was 30 years old,” Ramirez said. Ramirez renewed his commitment and support to PSC’s private partners— Philippine Olympic Committee and national sports associations—in promoting and nurturing athletes for international play. He said while the Philippine Amusement and Gaming Corp. (Pagcor) remitted to the PSC a sufficient share before the pandemic, the PSC “still has to get the five percent of its gross income as required by Republic Act 6847 that created the government sports agency.” Ramirez also said that the Philippine Sports Institute needs adequate government funds to pursue its goals of updating the country’s know-how in sports medicine and technology, including the improved sports rehabilitation facilities, in keeping abreast with the rest of the world. He mentioned that the country’s success in the Tokyo Olympics, where Filipinos achieved a milestone of one gold from Diaz, two silvers from boxers Carlo Paalam and Nesthy Petecio, and a bronze from fellow pug Eumir Felix Marcial, were products of intensive training and exposure overseas funded by the PSC. He was hopeful that the PSC’s allocation in the national government budget, a portion of which goes to grassroots sports, would be increased in tune with the times. Ramirez also was grateful for the private sector like the MVP Sports Foundation in helping some NSAs and encouraged more institutions and personalities to chip in and recognize the value of investing in the development of athletes.

As one of the architects of the country’s successful campaigns in the Tokyo and Rio Olympics, 2018 Asian Games and 2019 Philippine SEA Games, Ramirez credited these positive results to his “dedicated board of commissioners through our leadership in guiding and collaborating with our stakeholders.” With Josef Ramos

CHANELLE AVARICIO kicks off her title run with a solid 70 while Miguel Tabuena leads the men’s contest with a 66. ROY DOMINGO

By Josef Ramos

HOT REYES could be the most hated man in Philippine sports following the national men’s team’s loss CHOT REYES says to Indonesia that resigning is an cost the country option, but it’s not its most important his call to make. gold medal in the Southeast Asian Games—the men’s basketball mint. But speaking to BusinessMirror while the final batch of athletes and officials waited for their flight back home on Sunday night at the Noi Bai International Airport in Hanoi, Reyes readily accepted the responsibility for the setback and left his fate to his mother national sports association, the Samahang Basketbol ng Pilipinas (SBP). “I serve at the pleasure of the SBP,” Reyes said. “I did not apply nor volunteered for this job, I was appointed.” He added: “I don’t work for the bashers or for the haters. My mandate is to prepare the best team for the World Cup 2023.” The country losing the overall championship in terms of gold medals won was expected, its effect a bitter pill the 900-plus Team Philippines gamely swallowed. But

not the men’s basketball gold medal. Indonesia came well prepared, its homework done and efficiently executed under Serbian Rajko Toroman, Reyes predecessor at the Gilas program, and dealt the pro-laden Philippine team an 81-85 beating rarely seen in SEA Games basketball. He expressed respect to the Indonesian team. “I gave my best and we took the worst with the best,” he said. “It’s a deep sadness and disappointment.” Reyes admitted bashing has been part of his task as head coach of the national team. “I win, I’m basked. I lose, I’m bashed, but I worry more about my family,” he said, “they’re getting bashed, too.” He said the Vietnam SEA Games campaign is part of the overall bid to compete strongly in next year’s International Basketball Federation World Cup where the Philippines is the lead host. “I was appointed to coach the team leading to the 2023 World Cup, and this [SEA Games] is a part of it, so let’s not lose sight of the big picture, and there’s also the FIBA Asia Cup in August in Indonesia.” Will he resign? “That’s one of the options, which is to step aside,” he said. “But it’s not my call to make because I serve at the pleasure of those who appointed me.”

Avaricio in control, Tabuena up at Splendido Taal golf in Laurel

HANELLE AVARICIO appeared to make another title run on the Ladies Philippine Golf Tour (LPGT) after firing a solid two-under 70 and wresting a one-shot lead over Sunshine Baraquiel and amateur Mafy Singson in the International Container Terminal Services Inc. (ICTSI) Splendido Taal Challenge on Tuesday in Laurel, Batangas. Putting premium on driving and ball control on the softened Splendido Taal Golf Club layout, the Hallow Ridge and Caliraya legs winner snapped a par-game with a birdie on No. 7 then hit two solid shots on the closing par-4 hole and drilled in a sixfooter to complete a pair of 35s. That proved to be the best as Baraquiel struggled on the unpredictable surface after hitting all greens and Singson went on a roller-coaster ride after an eagle on the par-5 second. “I played steady with two birdies and no bogeys,” said Avaricio, who lost by three to Chihiro Ikeda in the ICTSI Mount Malarayat leg in Lipa City, Batangas two weeks ago.

“It’s the same thing for tomorrow (Wednesday), work on positioning and hope the putts would drop,” she added. Baraquiel also had a tough time wrestling with her putter, ending up with 36 putts for a four-birdie against one double bogey and a bogey card and a 38-33. TABUENA FLOURISHES IN LAUREL MIGUEL TABUENA looked far from peak form but still flourished and got to the top with a scorching finish by birdying the last three holes fort a six-under 66 and get past Clyde Mondilla at the start of the men’s tournament. Mondilla, in an earlier flight, took command majority of the way with a seven-under card after 14 holes before settling for a 67 on a couple of late mishaps at Splendido Taal Golf Club as the field played preferred lies due to wet course following days of rain. Tabuena, who beat Mondilla on the second playoff hole to claim the ICTSI Luisita crown last March, also made a run of four birdies in a fivehole stretch from No. 7 but reeled back with a wet bogey on the 13th be-

We can lose all but not basketball WE competed in 38 of 40 sports in the just-ended 31st Southeast Asian Games in Hanoi, Vietnam. We finished fourth overall and that’s considered commendable already. Even if we were more than 147 gold medals behind overall champion Vietnam. Our haul of 52 gold medals completely paled in comparison to Vietnam’s 205 gold medals. Doesn’t matter. That yawning gap is never considered an aberration. “Remember in 2015 and 2017, we finished sixth,” Philippine Olympic chief Bambol Tolentino said. But did we not finish first—also in a runaway fashion like Vietnam’s win this year—in 2019 in Manila? We were the defending champion in Vietnam and we got thoroughly thrashed. Why is that? On the eve of the Games’ conclusion, we trailed secondrunning Thailand by an unreachable 36-plus gold medals, and third-running Indonesia by 15-plus gold medals. We barely clipped Singapore for fourth place, with Malaysia finishing sixth in the 11-nation conclave considered the Olympics of Southeast Asia. “There were way too many silver medals (69) from subjective sports,” said Tolentino. One of those silver medals came in men’s basketball, which became the most unwanted, most snubbed and most

fore closing out with a blistering run of birdies for a 34-32 that put him on a very familiar place. “I didn’t really hit my best. I got to a very slow start and didn’t birdie the early holes. But I got it going on No. 8 and was able to make some grounds (after the bogey) by birdying the last three holes,” said the two-time Philippine Open champion Tabuena, also a two-time winner here at Splendido. Mondilla, who marked his runnerup finishes at Luisita and Caliraya with final round rallies, had set his title drive in motion in the P2 million event with a fiery start but lost his momentum at the finish, bogeying Nos. 15 and 18 for a 33-34. “I had a solid frontside, hit all the fairways and even missed three birdie chances inside five feet. But I lost my feel and momentum in the last four holes” rued the 2019 Philippine Open champion at The Country Club, who overshot the par-4 15th and failed to return a long par-putt then came up short of the closing hole, another par4, and missed a six-footer for par.

unappreciated piece of metal for Team Philippines. By yielding a stunning 85-81 loss to Indonesia, Gilas Pilipinas lost its vise-like grip on our most precious gold for 33 straight years in the biennial meet. We can lose all of the 38 sports that we had competed in, but not basketball. We win the gold in our national pastime and that will do it. Quite crazily, it essentially takes the form of emerging overall champion by itself. But all things must pass, obviously as the saying goes, including the good ones. Ended was our basketball reign since 1989, spanning 13 consecutive championship trophies. Indonesia came prepared, was armed to the teeth so to speak. First off, its commander-in-chief for the mission was no less than Rajko Toroman, the Serbian coach who helped devise our own Gilas basketball development program only a while back In short, Toroman knew every nook and cranny of our game plan. He had the antidote, period. Toroman got three towering Caucasians naturalized, one of them was 6-foot-10 Marques Bolden. Despite using Bolden sparingly to avoid the enemy’s (Philippines) prying eyes in its first five games, Indonesia still snatched a 5-0 card to match Gilas Pilipinas’ 5-0 mark. In their battle for the gold, Toroman ordered his men to fire threes at will. Responding with gusto, his soldiers buried 13 of 31 triples as against only three threes from the Philippines’ puny 16 attempts. Coupled with a suffocating defense that caused Gilas’s offense of dribble-and-drive to sputter consistently, Indonesia’s crew nudged on unerringly almost. And Bolden, playing his longest of 32 minutes, did the most havoc with his 18 points and 10 rebounds. And if Toroman, indeed, designed that dribble-and-drive assault, need I say more? The funeral dirge is still playing. THAT’S IT If it’s any consolation, our lady dribblers successfully defended their basketball title despite a loss in their no-bearing final game against Malaysia. As Senator Bong Go loves to say, “Laban lang tayo lagi—para sa bayan!” Cheers! You win some, you lose some.