BusinessMirror November 24, 2023 by BusinessMirror

Tourist alternative accommodations booming

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RECORD THANKSGIVING TRAVEL RUSH OFF TO SMOOTH START AMID SNOWY FORECAST

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LTERNATIVE accommodations for tourists are booming and Philippine tourism is among the beneficiaries, according to the Asian Development Bank (ADB). In a Brief, ADB said online listings of alternative accommodations in the Philippines recorded a compounded annual growth rate of 20 percent between 2018 and 2020. ADB said the online listings of alternative accommodations posted a growth rate of 132 percent between January 2023 and

January 2020. “Alternative accommodations are an important component of modern travel and tourism ecosystems. They represent a booming trend among consumers and entrepreneurs in Southeast Asia, offering diverse guest experiences that complement existing hotel options,” ADB said. ADB said alternative accommodations are non-hotel accommodation types that are often associated with commercial online platforms such as Airbnb, Booking.com, or one of the more

than 20 similar global, regional, and national online marketplaces. Based on the data, alternative accommodations make up an estimated 45 percent to as much as 55 percent of the total official room supply in Cambodia, Indonesia, Lao PDR, Philippines, Thailand, and Viet Nam. In the Philippines, the bulk or over 50 percent of these accommodations are composed of Apartments and Condos followed by houses and villas; serviced apartments; and bed and breakfast and guesthouses, among others.

“Requirements to follow building codes and safety regulations differ by country and location. For example, in Cambodia, alternative accommodation operators must comply with fire safety and health standards established by the local authorities, while in the Philippines, operators must comply with national building codes,” ADB said. There are 63,900 alternative accommodation listings in the Philippines. ADB said they generated

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Friday, November 24, 2023 Vol. 19 No. 44

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By Cai U. Ordinario

@caiordinario

HE country’s petroleum reserves continued to decline in 2022, led by the doubledigit contraction in natural gas reserves, according to the Philippine Statistics Authority (PSA). Based on the Energy Accounts of the Philippines, PSA said natural gas reserves posted the largest decline at 52.8 percent, followed by condensate reserves at 28.7 percent. Data showed natural gas reserves declined to 100.21 billion standard cubic feet of gas (scf) in 2022 from 212.38 billion scf in 2021, while condensate reserves decreased to 6.71 million barrels in 2022 from 9.41 million barrels in 2021. “The decline in the petroleum reserves [i.e., oil, natural gas, and condensate] was due to the recorded production of these reserves,’ PSA said. The data showed oil reserves See “Dipping,” A2

SMALL COMFORT A makeshift shelter crafted from a blanket stands on a Parañaque City sidestreet, drawing the attention of passersby. Despite the poignant scene, a recent Tugon ng Masa survey by OCTA Research reveals a glimmer of hope: fewer Filipino families perceived themselves as poor and hungry in the third quarter of 2023. Conducted from September 30 to October 4, the survey indicates that 46 percent of respondents, equivalent to 12.1 million Filipino families, rated themselves as poor during this period. This marks a 4-percent improvement compared to the second quarter survey, where 50 percent or 13.2 million families considered themselves poor. NONIE REYES

PHL HAS HIGHEST SHOPPING 16 APPF members back PHL SCAM RATE IN ASIA–REPORT bid for UN Security Council By Lorenz S. Marasigan

@lorenzmarasigan

HE Philippines has attained the unfortunate distinction of having the highest shopping scam rate among 11 Asian countries, with the Cybercrime Investigation and Coordinating Center (CICC) issuing this warning to the Filipino public: Exercise caution when engaging in online shopping this holiday season. Citing data from the 2023 Asia Scam Report, CICC Execu-

tive Director Alexander K. Ramos said the shopping scam rate in the Philippines has reached an alarming 35.9 percent. He emphasized the need for vigilance, especially during the holiday season when shopping scams tend to peak. “Based on our observation, shopping scams usually increase during the Christmas season,” he said. “Scammers take advantage of the high volume of online shopping and people’s vulnerability during this period.” See “PHL,” A2

By Jovee Marie N. dela Cruz @joveemarie

& Butch Fernandez

@butchfBM

IXTEEN member states of the Asia-Pacific Parliamentary Forum (APPF) have endorsed the Philippines’ candidacy for a seat in the UN Security Council to be held in 2027-2028. In a bid to contribute significantly to global peace and stability, Speaker Ferdinand Martin Romualdez said the Philippines is actively seeking a non-permanent seat on the UN Security Council for the term 2027-2028.

Romualdez and Senate President Juan Miguel Zubiri, in a separate interview, said at least 16 countries have expressed support for the Philippines. In his welcome remarks at the 31st Asia-Pacific Parliamentary Forum, Romualdez said the Philippine delegation appeals for the unwavering support of all APPF Member States for this candidature, emphasizing the country’s commitment to peacebuilding and counter-terrorism efforts. “As a responsible member of t he inter nat iona l communit y, See “APPF,” A2

PESO exchange rates n US 55.5100 n japan 0.3713 n UK 69.3653 n HK 7.1199 n CHINA 7.7474 n singapore 41.3760 n australia 36.3091 n EU 60.4559 n KOREA 0.0427 n SAUDI arabia 14.8007 Source: BSP (November 23, 2023)

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A2 Friday, November 24, 2023

PHL… Continued from A1

Ramos also pointed out that Filipinos’ immediate response to scams and their tendency to believe in false promises make them susceptible to falling victim to such schemes. The Asia Scam Report revealed that 24.8 percent of Filipino victims respond hastily to scammers' demands, and 21.1 percent take risks despite uncertainties, indicating the need for increased awareness and caution. Ramos appealed to the public to report incidents of shopping scams and other cybercrimes by calling 1326. The Asia Scam Report is a comprehensive survey conducted by GASA and Gogolook, encompassing data from nearly 20,000 respondents across 11 Asian nations: the Philippines, Taiwan, Thailand, Japan, Korea, Malaysia, Hong Kong, Singapore, Vietnam, China, and Indonesia. The report highlights shopping scams as one of the nine mainstream scam scenarios prevalent across these Asian countries. These scams include identity theft, investment fraud, government and bank scams, job scams, lottery scams, family and relatives scams, bill payment scams, and charity scams.

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DFA hopes Gaza truce will Tourist… help free 17 OFW hostages Continued from A1

By Malou Talosig-Bartolome

HE Department of Foreign Affairs said the 17 Filipino seafarers taken hostage by Houthi-Yemeni forces in Yemen are safe. “The positive news is that all indications are they are all safe and not physically,” DFA Undersecretary Eduardo De Vega told The Source of CNN Philippines. He said one of the seafarers was able to contact his family in the Philippines and assured them that they are all safe. De Vega said unfortunately, the seafarer was not able to reveal as much details as the government would like to. The Department of Migrant Workers, he said, is in charge of the general welfare of the seafarers, including coordinating with their families in the Philippines, their manning agencies and the shipowner.

The DFA is also on deck, dealing with finding political and diplomatic solutions to release the 17 Filipinos. De Vega said he hopes the fourday truce between Israel and Hamas would help facilitate the release of all the 25 crew of Galaxy Leader, a Japanese ship seized by the Houthis who mistook it for an Israeli vessel in the Red Sea. “The way we look at it, the truce is a positive development which may lead to the Houthi rebels freeing our 17 hostages,” De Vega added. Senators on Thursday weighed in on the continuing war between Israel and Hamas in the Gaza Strip, with one pushing a ceasefire and two others urging government to move quickly to free the 17 Filipino

hostages of the Houthis. In a statement, Majority Leader Joel Villanueva offered “prayers for the safety of the 25 individuals, including 17 Filipino seafarers” in Yemen. He urged the Department of Foreign Affairs, Department of Migrant Workers (DMW), and other concerned agencies to “exhaust all efforts to bring our kababayans home.” “The establishment of the DMW, which we principally sponsored and authored in the Senate, will provide a faster and more efficient service to our Overseas Filipino Workers [OFWs],” Villanueva assured. Moreover, he added, “we ensured the funding of the AKSYON fund in the department to give immediate assistance to our OFWs in need.” Meanwhile, Deputy Minority Leader Risa Hontiveros also urged the DFA and DMW to utilize all diplomatic channels and resources available

APPF… Continued from A1

the Philippines is ready to play an even larger role in promoting global peace and stability. We see ourselves as an active partner, an engaged pathfinder, and a committed peacemaker. With this in mind, the Philippine delegation would like to request the unwavering support of all APPF Member States for the candidature of the Philippines for a non-permanent seat on the UN Security Council for the term 2027-2028,” he said. “The Philippines stands ready to shoulder the responsibilities of this esteemed position, driven by our unwavering commitment to peacebuilding and our persistent efforts in combating terrorism. Our nation’s steadfast dedication mirrors the rich and enduring tradition of Philippine diplomacy, and we are eager to harness this tradition to make meaningful contributions to the cause of global peace,” he added. Drawing on its experiences in adhering to UN Security Council resolutions and extensive work in the Bangsamoro Autonomous Region in Muslim Mindanao, the Philippines, Romualdez said, aims to bring valuable insights and a dedication to the rules-based international order to the international stage. According to him, the APPF theme “Resilient Partnerships for Peace, Prosperity, and Sustainability” serves as a guiding principle for the Philippines as it navigates the complex challenges faced by the region, saying the Philippines aims to identify lasting solutions to regional problems, enhance parliamentary capacities, and collectively address is-

to facilitate the immediate release of the 17 OFW sailors. “We call on the Department of Foreign Affairs to leverage its diplomatic relationships and engage with international partners to address this pressing issue,” Hontiveros said. Moving forward, Sen.Hontiveros underscored the need for a comprehensive and improved policy framework to effectively manage recurring hazards that OFWs, specifically seafarers, faced in the course of their work. Meanwhile,, Sen. Robinhood Padilla, a Muslim, supported calls for an end or at least a cease-fire in the IsraelHamas conflict. “I am one with the whole world in praying for the realization of a ceasefire—or “urgent and extended” humanitarian pauses—between Israel and the militant group Hamas, which is stated in Resolution 2712 of the United Nations Security Council,” he said. With Butch Fernandez

sues affecting the region. On peace, he said the Philippines reiterates its support for a rules-based international order, emphasizing peaceful dispute resolution in line with the 1982 Manila Declaration on Peaceful Settlement of Disputes. On prosperity, the Speaker said economic prosperity is a key focus, with the Philippines highlighting its ratification of the Regional Comprehensive Economic Partnership (RCEP).

‘Shared solutions’–Zubiri

Delegates from 19 countries started gathering Thursday at the PICC for the APPF 31, where Senate President Zubiri said they intend to seek “shared solutions to shared concerns.” In a press briefing, Zubiri said the 275 delegates from 19 countries are expected to discuss “[the resolutions] heavily in plenary and working groups over the next days,” Zubiri said, adding that “these cover everything from climate action to transnational crime, universal health care to critical , will enable .” Zubiri said the 3-day conference, which the Philippines is hosting for the second time, will enable delegates to tackle a total of 37 draft resolutions to working groups. “In a nutshell,” he added, “10 resolutions were referred under strengthening the capacity of parliaments to promote peace and stability, five under combatting transnational crimes, three under critical infrastructure, four under regional cooperation through education and culture, two under universal health care, four under gender and sustainable development goals and five under women’s participation and leadership.”

$221 million worth of revenue as of 2022 at an average daily rate of $70 or less than P4,000. On average in Southeast Asia, there 317,300 listings of these accommodations and at a daily rate of $112, generated $1.898 billion in total revenues. These accommodations in the Philippines have an average occupancy of 36 percent, which is below the 40 percent average in Southeast Asia and an average stay of 2.2 days, also below the 2.4 average length of stay in the region. “To better harness the potential benefits and minimize negative impacts of alternative accommodations, destinations must have appropriate and effective regulations in place to maintain safety and quality standards, ensure fair competition, and strengthen destination governance in alignment with local socioeconomic development and environmental management objectives,” ADB said. ADB said these accommodations are important contributors to the region’s travel and tourism growth. In 2019, travel and tourism contributed 11.7 percent to Southeast Asia’s GDP and sustained nearly 42 million jobs, with millions of workers engaged in the accommodation subsector. Cai U. Ordinario

Dipping… Continued from A1

reached 30.91 million barrels of oil (bbl oil) in 2022, a decrease of 1.8 percent from 31.46 million bbl oil in 2021. The PSA also said coal reserves in 2022 was recorded at 349.61 million metric tons (MT), a decline of 4.4 percent from 365.71 million MT in 2021. This was despite the recorded increase in production of coal to 16.11 million MT in 2022 from 14.36 million MT in 2021. Meanwhile, the total monetary value of coal, oil, natural gas, and condensate reserves amounted to P594.22 billion in 2022. This is more than double its value in 2021 at P242.61 billion. The country’s coal reserves was valued at P529.66 billion in 2022, an almost three-fold increase from its value in 2021 amounting to P181.92 billion. The monetary value of oil reserves in 2022 was at P19.07 billion, an increase of 35.4 percent from P14.08 billion in 2021. In 2022, PSA said natural gas reserves was valued at P22.67 billion, indicating a decrease of 12.9 percent from P26.02 billion in 2021. Meanwhile, condensate reserves amounted to P22.81 billion in 2022, a 10.8-percent increase from P20.59 billion in 2021. "The total resource rent of the four non-renewable energy resources contributed 0.44 percent to the GDP of the Philippines in 2022, amounting to P96.42 billion,” PSA said. “The valuation of the energy assets of the Philippines uses the Net Present Value Approach as recommended by SEEA-CF using a 10 percent social discount rate,” it added. PSA said the Energy Accounts of the Philippines provides information on the stocks and changes in stocks of four non-renewable energy resources in the country, namely: coal, oil, natural gas, and condensate. The compilation adheres to the System of Environmental-Economic Accounting 2012 Central Framework (SEEA-CF) as well as the SEEA Energy, a subsystem of the SEEA-CF that describes how information on energy stocks and flows should be organized.

Friday, November 24, 2023

www.businessmirror.com.ph • Editor: Vittorio V. Vitug

Koko questions ‘exorbitant’ rental Remulla seeks out ES Bersamin for guidance on House ICC reso rates for vote counting machines By Joel R. San Juan

ENATE Minority Leader Aquilino “Koko” Pimentel III has raised concerns about what he calls exorbitant rental rates for the so-called “modern automatic counting machines” (ACMs) proposed by the Commission on Elections for use in the 2025 National and Local Elections. “Under the proposed budget of the Comelec for the next fiscal year, a substantial portion amounting to P19.799 billion is allocated for the rental of these 127,740 ACMs, each costing P155,000 to lease, for the implementation of the 2025 midterm election,” Pimentel pointed out. The leader of the Senate minority bloc laments as “excessively high” the rental rate of P155,000 per vote counting machine, “especially when considering the financial challenges faced by the government, including a huge budget deficit.” He added: “To spend nearly P20 billion on the rental of automatic counting machines, with each machine costing P155,000 just to lease, is simply not wise, given our current

financial situation.” At the same time, Pimentel found it questionable that “the price tag ballooned to P155,000 per unit from P70,000 per unit last year based on the previous pronouncement of the commission.” He sought an explanation from officials: “Why did it balloon to P155,000 per unit when the Comelec said last year the rent would only be P70,000 per unit?” Citing an earlier pronouncement made by Comelec both in the Senate and through various media outlets, Sen. Pimentel underscored that the commission had firmly set the rental price at P70,000 per unit just last year, recalling that he, furthermore, emphasized that Comelec had previously indicated a requirement for only 97,000 ACMs to facilitate the upcoming midterm elections. “It suddenly increased by 121 percent. That’s quite a dramatic increase. I think Comelec has a lot of explaining to do,” he said. Butch Fernandez

@jrsanjuan1573

USTICE Secretary Jesus Crispin Remulla on Thursday said he would meet with Executive Secretary Lucas Bersamin to determine the Executive Department’s policy direction in connection with the call made of some House of Representatives members for the government to cooperate with the ongoing investigation by the International Criminal Court (ICC) into the illegal-drug war campaign of the Duterte administration. At a press briefing, Remulla admitted that the move in the House “raises more questions than answers,” considering that the country is no longer a member of the ICC. “The resolution in the House tells us to work with the ICC but the first question is, why will we work with

the ICC now that we’re no longer a member with the ICC? That is the question. So are we going to be members of the ICC first for this thing to happen?” Remulla said. Asked if he has already talked with President Ferdinand “Bongbong” Marcos Jr. on the latest developments with regard to the issue, Remulla said they have yet to discuss the matter. “Although, I intend to seek out the Executive Secretary tomorrow. Just to be able to make sure that we are on the same page in this matter. Of course, we need to get instructions from the Executive Secretary,” he added. The DOJ secretary said he would specifically clarify from Bersamin if the Palace is inclined to renew its membership with the ICC. “I want to know how it affects the whole universe of the ICC and the Philippine government as it is

Path-breaking bill on legal framework for climate loss, damage liability filed By Jovee Marie N. Dela Cruz @joveemarie

N a groundbreaking move, a bill aiming to establish a legal framework for climate loss and damage accountability, the first of its kind globally, was filed in the House of Representatives. House Bill 9609, or the proposed Climate Accountability (CLIMA) Act, was filed on Wednesday by Bohol Rep. Edgar Chatto, Negros Oriental Rep. Jocelyn Sy Limkaichong, Albay Rep. Fernando Cabredo, Leyte Rep. Anna Victoria Veloso-Tuazon, Tarlac Rep. Christian Tell Yap, and Bukidnon Rep. Jose Manuel Alba,

a week ahead of the upcoming UN Climate Change Conference (COP28) in Dubai. Greenpeace Philippines, in a statement, said this is a historic proposed law, as this is the first one globally that opens up the possibility for corporate climate accountability to be recognized by a state and that provides measures to call for reparations mechanisms. The development was announced on Thursday at the roundtable discussion “Climate Change Reparations: A Climate Justice Imperative” at the Bayleaf Hotel in Manila, co-organized by Greenpeace Philippines, the Legal Rights and Natural Resources Center (LRC), the Climate Action

and Human Rights Institute (CAHRI), and the Committee on Climate Change of the House of Representatives. The bill intends to institute policies and systems to address climate change, protect communities from climate change-induced losses, damages, and human rights harm, and provide mechanisms for accountability and reparations from those responsible for worsening the climate crisis—including corporate interests such as the fossil fuel industry. Felisa Castro, president of Kusog han Kababayen-an han Salcedo Federation (Kakasa) and a resident of Salcedo, Eastern

Samar, expressed gratitude for the proposed law. She stated, “This is the right step to take because we need to demand payment from those who are responsible for what is happening to us today.” Jochelle Magracia, chair of the Young Bataeños for Environmental Advocacy Network (Young BEAN), emphasized the importance of such legislation for communities vulnerable to the impacts of dirty industries and the worsening climate crisis. “It is important that we ensure policies like this are enacted because they will play a big part in achieving our dream of a safe and clean future.” For his part, Rep. Chatto highlighted the

right now,” Remulla added. He will also check the records of the House and the arguments of those pushing for the ICC’s intervention in the investigation into the deaths related to the illegal drug war campaign of the previous administration. “But I think it’s something very interesting to study. Our history with the ICC and what transpired after, and what is going on now and what happened in the steps that we took out of the ICC, and the litigation that took place in the Supreme Court about our membership in 2019, etc. etc. It needs a serious study to be able to actually make sense out of all this in the end,” he explained. While he agreed that President Ferdinand Marcos Jr. would have the last say on the matter, being the architect of the country’s foreign policy, Remulla said there are other considerations “in determining whether or

not we should go back to the ICC.” Earlier, Remulla said the release of former senator Leila de Lima on bail in connection with the illegal drug charges filed against her only strengthened the DOJ’s position that the ICC’s intervention is not necessary. He said De Lima’s release only proves that the justice system in the country is functioning. The DOJ chief also maintained that the ICC has lost jurisdiction over the country following former President Duterte’s decision to withdraw as a member-state of the ICC. He said the Court’s 2021 ruling that, “withdrawing from the Rome Statute does not discharge a state party from obligations it has incurred as a member” is merely an “obiter dictum” or an opinion, thus, cannot be used as basis to allow the ICC investigation.

urgency of the legal framework, stating, “Corporations have known the impact of their business on the environment for decades, yet they continue to engage in defensive tactics and greenwashing to deflect responsibility for the climate crisis.” If passed, the CLIMA Act will provide the framework for limiting fossil fuel expansion and aligning businesses with the Paris Agreement. It will also facilitate the payment of climate reparations to impacted communities through the establishment of a loss and damage fund. Organizations such as Greenpeace Philippines and the LRC lauded the filing of this bill, which they believe is an urgent need, especially as climate impacts continue to increase in severity.

Jefferson Chua, a Greenpeace campaigner, said, “We are calling on President Marcos Jr. to throw the full support of this administration into making climate accountability a state policy.” “This is a welcome development, but this is just the start. We must ensure that policies such as this are passed swiftly through Congress and not watered down by corporate interests,” said Greenpeace campaigner Jefferson Chua. Atty. Ryan Roset of the LRC described the legislation as “pioneering pending legislation” that shifts the burden of the climate crisis to the entities causing it. The CLIMA bill sets more stringent due diligence standards on business behavior and institutionalizes corporate accountability, transparency mechanisms, and a loss and damage facility for affected communities.

Editor: Vittorio V. Vitug • www.businessmirror.com.ph

Friday, November 24, 2023

‘Hidden costs, complex rules deter investments’ By VG Cabuag @Villygc

usiness leaders have called the attention of the national government to the “hidden cost” of doing business down to the community level.

Cezar Consing, Ayala Corp.’s CEO, said these costs affect businesses that have low margins, which could make certain communities less attractive to investors. “What we find here is there are a lot of unwritten [and] hidden costs to doing business. More recently, I see them more at the local level. And if you’re a firm that is trying

to do business nationwide, it’s those costs that that are so hard to quantify,” Consing said during a panel of the Pilipinas Conference 2023, a forum facilitated by think tank Stratbase. “I think that is a real issue because in many of these businesses, margins are very thin. And you need leverage on top of that. The room

Workers assemble electronic products at a factory in Laguna in this BusinessMirror file photo.

for error is actually not that wide. If you’re guessing your costs, and you don’t know what they are, and they surprise you, I think it’s a real detriment to investment,” he added. Chr istian Gonza lez, Internationa l Conta iner Ter mina l

Salceda: Govt should pursue land reclamation to raise revenues By Jovee Marie N. Dela Cruz @joveemarie

h e national government could eliminate the need to raise taxes by opting for land reclamation as a means of generating revenues, according to House Committee on Ways and Means Chairman Joey Sarte Salceda. During a briefing, Salceda emphasized the importance of land reclamation in the development of large metropolitan cities situated along coastlines, as demonstrated by the notable success stories of Tokyo Bay, Singapore, and Hong Kong. “Land reclamation stands as a pivotal avenue for revenue generation, eliminating

the necessity of tax hikes, and yet remains underutilized,” he said. According to Salceda, the Philippines faces the “alarming prospect” of losing billions in revenue if these projects continue to languish in suspension. Salceda said in a previous briefing that the Philippines stands to lose P432 billion in the next five years if the reclamation projects remain suspended.

Backed by LGUs

In the same hearing, Pasay City Administrator Peter Manzano said reclamation projects in Manila Bay can easily generate at least 1 million jobs from horizontal development and commercial operations alone.

Manzano, who attended the briefing on behalf of Pasay City Mayor Emi Calixto, spoke about the economic impact of reclamation efforts in Manila Bay, particularly under the Pasay Eco-City Coastal Development Projects. Foremost among these, according to Manzano, are the “millions of jobs and billions of revenues” the projects will generate. The Eco-City endeavor included the 360-hectare reclamation project under a joint venture with SM Smar t City Infrastructure and Development Corp., dubbed “Pasay 360.” By the city government’s projection, national taxes from investments and businesses from the reclamation may total over P1.3 trillion in 35 years’ time. Meanwhile, revenues for Pasay may also total over P1.1 trillion in real property and business taxes. “During horizontal development and commercial operations, private developers, investors, and business establishments at the Projects could easily generate over a million jobs, including those related to construction, business process outsourcing, retail, banking, hotels and restaurants, and the like,” said Manzano. In general, Manzano said this joint venture with the private sector is “projected to create economic multipliers and generate millions of jobs and billions of revenues by

Ser vice Inc. (ICTSI) executive vice president and global corporate head, said “regulator y fr iction” compounds the difficuties faced by businesses in managing their costs. He used the example of Metro way of income and value-added taxes for the national government and real property taxes and business taxes for the city.” He said that as it is, Pasay’s development is held back by “acute land scarcity and urban congestion.” The Eco-City project is designed to change all that, giving considerable windfall to the national government in the process. “The national government already stands to generate close to P16 billion in regulatory and extraction fees,” Manzano said. “Once reclamation is completed, the national and local government units [LGUs] stand to gain, at no financial cost, 131.25 hectares of saleable reclaimed land with a future estimated total value of over P650 billion once the area and its amenities are fully developed,” he added. During the briefing, Nueva Ecija third District Rep. Ria Vergara raised her concerns over the environmental impact of the reclamation projects. To this end, Glenn Ang, president of SM Smart City Infrastructure and Development, said its project was backed by all the necessary studies. “We’d like to assure the honorable Congressman Vergara that all of the studies have been prepared, everything... The DENR is working now [on] the cumulative impact of all of the other reclamations it built all together. And we’re very much open to all of these.” There are a total of 21 projects in Manila Bay, according to the Department of Environment and National Resources (DENR). President Marcos earlier suspended all reclamation projects pending the results of a cumulative impact assessment.

Manila’s traffic experience in 2014 when then Mayor Jospeh Estrada prohibited container trucks from traversing Manila during daytime. “So you’re talking of billions of dollars of investment from the public and the private, over time, in an industry that’s so critical it effectively becomesthe economic heartbeat of the country. And one guy, you know, with a mandate from over 5,000 people can shut the place down. So we need government at the highest levels, to look at the weakest point in the chain that we’re all involved in. Understand what is creating the weakness in those particular links, and use political will to solve it,” Gonzalez said. Nina Aguas, Insular Life executive chairman, meanwhile said the government should push more for

accountability and transparency. “In terms of regulations, for example, I want things to be simpler. The tax regime alone, it’s just too complicated. And having experience of how it was working in Singapore, for example, or like, our business is opening in Singapore, you talk about the hidden cost of setting up, it takes only two or three hours to be able to start a business. So it’s not days, not 30 days,” she said. “In Singapore, when you file your individual tax return, you’re audited before you start to pay. And then you’re given a year to pay for the whole thing. So that there’s no corruption, it’s all like technology driven. So that makes it a lot easier. It’s very transparent. The process is very simple. So I’d really like that for the Philippines,” she added.

NWPC approves pay hike for Mimaropa workers By Patrick V. Miguel

he National Wages and P roduc t iv it y Com m is s ion ( N W PC ) h a s ap proved the daily minimum wage hike of P40 for workers “across all sectors” in Mindoro (Occidental and Oriental), Marinduque, Romblon and Palawan (MIMAROPA) region. With the increase, the new minimum wages upon effectivity in establishments with more than 10 workers is P395, while the daily minimum wage in establishments with less than 10 workers is P369. The wage increase will take effect on December 7, according to a statement from the Department of Labor and Employment (DOLE). A total of 46,861 minimum wage earners in MIMAROPA will directly benefit from the wage increase, said DOLE. “About 113,324 full-time wage and salary workers earning above the minimum wage may also indirectly benefit as a result of upward adjustments at the enterprise

level arising from the correction of wage distortion,” it added. Moreover, the monthly wage of domestic workers in the region has increased by P1,000, bringing their total monthly minimum wage to P5,500. The last wage orders for workers in private establishments and domestic workers in the region were issued in June 2022. Last week, the NWPC approved the daily minimum wage hike amounting to P30 for workers in the Bicol, Cordillera, and Eastern Visayas regions. The new minimum wage of private workers in Bicol and Cordil lera w il l be P395 and P430, respectively. Meanwhile in Eastern Visayas, minimum wage in the agriculture and establishments with less than 10 workers is P375, and P405 for private sector workers. In addition, domestic workers’ wage in Bicol increased by P1000, with a new total of P5,000 per month. In Cordillera, domestic workers’ monthly wage will be P4,900 following an increase of P400.

www.businessmirror.com.ph | Editor: Vittorio V. Vitug

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Friday, November 24, 2023

Marcos vows swift delivery of govt aid to disaster areas By Samuel P. Medenilla @sam_medenilla

& Claudeth Mocon-Ciriaco @claudethmc3

RESIDENTFerdinandR.Marcos Jr. assured the government would fast-track the delivery of aid in flood-hit Samar and in Mindanao, which is still reeling from effects of an earthquake. This was the chief executive’s message via video-conference with local officials of Catarman,SamarlastThursdayfromTaclobanCity. The President’s trip to the flood-hit southern Philippine municipality was aborted after inclement weather forced his flight to the Leyte city, some 237 kilometers away. Northern Samar is currently under a By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court has affirmed the Court of Appeals (CA) ruling perpetually banning former Presidential Commission on Good Government (PCGG) Chairman Camilo L. Sabio from holding any public office and forfeiting all his retirement benefits after finding him guilty of grave misconduct in trying to influence his brother, then a CA magistrate, to side with the Government Service InsuranceSystem(GSIS)initsownershipdisputewith the Manila Electric Co. (Meralco). In an 18-page ruling, the Court denied Sabio’s petition for review, seeking the reversal of the CA ruling issued on March 31, 2015. The CA had affirmed the Ombudsman’s resolution finding Sabio guilty of grave misconduct and conduct prejudicial

state of calamity due to the heavy flooding from the incessant rains caused by a lowpressure area and shear line. Marcos said the sewers in the affected areas were unable to cope with sheer volume floodwater from the extreme rainfall. “We have not experienced this kind of heavy rain over such a long period of time. Considering there was no typhoon, considering that this is the new normal; this is the new weather that we have to adjust to,” the chief executive said.

List of beneficiaries

THE President has ordered the Department of Public Works and Highways (DPWH) to prioritize the repair and clearing of roads in Northern and Eastern Samar to allow the faster delivery of relief goods in those areas.

“We are doing everything that we can. But let’s work with those who are in the evacuation centers—and those in their homes,” Marcos said partly in Filipino during the briefing with officials. “We have to go and make sure that they get the food packs, they get sufficient water supply.” Department of Social Welfare and Development (DSWD) Secretary Rexlon T. Gatchalian said they will distribute 100,000 food packs in Northern and Eastern Samar as soon as they finalize the list of their beneficiaries. He said the list will also serve as the basis for the distribution of cash to help flood victims in rebuilding their homes. Meanwhile, the Department of Agriculture (DA) announced it will provide seedlings and other farm implements to

the affected farmers in Samar. Marcos also said they will also be deploying water purification equipment in the flooded areas to provide potable water to the 14,260 families in the 37 affected municipalities.

MMDA to Samar

MEANWHILE, the Metropolitan Manila Development Authority (MMDA) announced last Thursday it has sent a 40-man contingent to Northern and Eastern Samar in Visayas. According to MMDA Acting Chairman RomandoS.Artes,thecontingentiscomposed of personnel from the Public Safety Division and Road Emergency Group and divided into two groups; one for each province. Both groups are tasked to conduct humanitarian and relief operations to

affected residents. Artes said that each group will bring with them 30 units of solar-powered water purification systems. Each unit can filter 180 gallons of water per hour. “With the lack of potable water supply in the area, our team’s main task is to set up water filtration systems in communities with limited to zero supply of clean water to drink,” he said. Artes said one group of humanitarian contingent can produce 21,600 liters of water per hour. He added that the two teams will stay in the said provinces as needed to fully address the needs and concerns in the area.

Pending reconstruction

THE President also went to General Santos City to assure those affected by the

SC affirms ruling vs ex-PCGG chief in GSIS-Meralco dispute to the best interest of the service. The Ombudsman held that Sabio’s attempt to influence the judicial discretion of his brother was a “flagrant disregard of well-known legal and more importantly, ethical rules,” which “unduly prejudiced and compromised the image and independence of the judiciary, and government service in general.” The Ombudsman said Sabio’s acts made it appear that he “could sway, manipulate or control members of the appellate court in the resolution of cases before them.” Based on the records, the former PCGG chief called his younger brother, then CA Justice Jose L. Sabio Jr., to inform him that he had been

named third member of the division in which the Meralco-GSIS ownership case had been raffled. Sabio, likewise, informed his brother that a temporary restraining order (TRO) had been prepared and, thus, tried to convince him of the rightness of the stand of the GSIS and the Securities and Exchange Commission (SEC) in the case. He asked his brother to help the GSIS, which “represents the interest of the poor people.” Justice Sabio was surprised as he had not yet been “officially informed” about the matter. Justice Sabio told his brother that he would “vote according to [his] conscience” and that the most that he could do was “to have the

issuance of the TRO and the injunctive relief scheduled for oral arguments,” at which the respondents “must be able to convince” him that the TRO indeed had no legal basis. In dismissing Sabio’s petition, the Court maintained that the Ombudsman and CA ruled correctly, did not abuse their jurisdiction, and acted within their respective jurisdictions in deciding the case. “Being at the helm of a very important government agency, petitioner is by all means aware that the power, influence, and responsibility he wields are immense, potent, and fragile. He openly disregarded this knowledge

and admittedly used his position, not just to achieve his unprofessional objectives, but to wittingly create this undue impression that justice is not at all blind, but can easily be distorted and manipulated at the will of the powerful and the ‘connected,’” the Court said. “To mask these under the guise of lofty and pure ideals should not and will not help his defense; the ends shall never justify the means. His actions not only seriously prejudiced the best interest of his public position and the government office he represented, but also tainted the image and integrity of the appellate arm of the judiciary, ultimately compromising the public trust that he

magnitude 6.8 earthquake, which jolted Sarangani last Friday, will get help from the government. The quake was blamed for the death of nine and affected 16,000 people in the Soccsksargen and Davao regions. “All of the assistance and the needs of the affected and lost their homes, including the fishermen and the injured will get assistance from the DSWD,” Marcos said in Filipino in an interview with the media. However, the President said, reconstruction efforts in the quake-hit areas will be temporarily deferred due to the ongoing aftershocks. “We cannot start rebuilding because of the aftershocks. The problem is we don’t have a forecast [for earthquakes]; so we don’t know what will happen,” the Marcos said.

had sworn to serve and preserve,” it added. The Meralco-GSIS ownership row led to the dismissal from the service of CA Associate Justice Vicente Q. Roxas. Roxas was found guilty of multiple violations of the canons of the Code of Conduct, grave misconduct, dishonesty, undue interest and conduct prejudicial to the best interest of the service in connection with his July 23, 2008, ponencia upholding the control of the Lopez-bloc over Meralco. The Court also found Associate Justice Jose Sabio guilty of simple misconduct and conduct unbecoming of a justice of the CA, and suspended him for two months without pay. The Court also reprimanded then CA Presiding Justice Conrado M. Vasquez Jr., for his failure to act promptly and decisively in order to avert the controversy that damaged the integrity of the judiciary.

BusinessMirror

Friday, November 24, 2023

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

ADVANCED FINANCE SOLUTIONS, INC. 20th Floor Cyber Sigma Lawton Avenue, Bonifacio South, Bonifacio Global City, Fort Bonifacio, City Of Taguig

SMEJKAL, JAN Chief Antifraud Officer 1.

Brief Job Description: Develop and execute an effective anti-fraud strategy to safeguard the company’s operations and customers. Lead and manage a high-performing team of anti-fraud professionals, providing guidance, support, and oversight.

Basic Qualification: Bachelor’s degree in Finance, Business, or relevant field. Advanced degree is a plus. Proven experience (5 plus years) in a leadership role within anti-fraud in a similar industry.

Brief Job Description: Consolidate and stabilize programming.

Basic Qualification: Master degree in Social Science.

10.

11.

12.

Brief Job Description: A key accounts specialist consultant is an individual dedicated to marketing, selling, and supporting a specific type of customer.

HSANN AUNG NAING Chief Operating Officer

TRAN MINH NHAT Invest SPC - TSE [VNM] 4.

Brief Job Description: Communicate effectively with our customer base - buyers, merchants and internal customers. Take appropriate action to identify and help minimize the risk posed by fraud patterns and trends.

Basic Qualification: College graduate. Proficient in Vietnamese, Thai and ChineseMandarin languages. Excellent interpersonal skills with the ability to communicate complex issues to internal and external customers.

Brief Job Description: Analyze internal operations and identify areas for process enhancement.

LIU, MINGDI Operation Officer 14.

Brief Job Description: Oversee and direct daily company administrative process and procedure.

INJAENG, CHUTHARAT SPC - TSE [THA]

Brief Job Description: Communicates effectively via email and/or telephone with buyers, merchants and internal customers. Take appropriate action to identify and help minimize the risk posed by fraud patterns and trends. Consistently achieve weekly productivity and quality standards.

PATI, AMIYA KUMAR Mechanic Specialist 15.

RAMSIRI, PATCHARAPORN SPS Associate - TH 6.

Brief Job Description: Demonstrates effective, clear and professional written and verbal communication. Provide prompt and efficient service to Amazon Sellers and Merchants including the appropriate escalation of Sellers’ issues.

Brief Job Description: Coordinating and preparing installation of mechanical equipment on site or on board.

HAN, LIPING Chinese Speaking Cabling Infrastructure Technician 16.

PATWARI, ABHISHEK Head Of Software Engineering 7.

Brief Job Description: Overall responsibility for engineering unit with strategic, business, and operational leadership.

Basic Qualification: Bachelor’s degree holder with 12 years of experience in leading large development groups through software development cycles.

17.

KHUN THEIN SOE MOE Burmese Customer Service Representative 8.

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

WANG, MU-ZHI a.k.a. TSAI, I-NO IT Support 18.

XU, LINGLING Chinese Customer Service Representative 9.

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

Brief Job Description: Installing and configuring computer systems, diagnosing hardware and software faults and solving technical and applications problem.

19.

NGUYEN, BA TIEN Vietnamese Speaking Customer Service Representative Brief Job Description: Manage incoming and outgoing calls, chats and emails.

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

QIN, YU Marketing And Sales Agent 22.

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

Basic Qualification: Detail oriented and strong analytical skills.

23.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent verbal and written communication both in English and Mandarin Chinese languages. Strong public speaking skills.

20.

Brief Job Description: Build affiliate campaigns and compensation strategies.

EASTERN GOLD CORPORATION 503, Nueva St., Barangay 289, Binondo, City Of Manila

Brief Job Description: Researches and develops various marketing strategies for products and services, implements marketing plans and works to meet sales quotas.

24.

25.

26.

CAI, ZHIHAI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

LI, CHUNCHEN Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

WANG, KAI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record. YAO, PEIJIANG Mandarin Technical Support

27.

Brief Job Description: Monitoring and maintaining computer systems and networks.

TONG, YAOFENG Mandarin Deputy Project Manager 28.

29.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: The Mandarin deputy project manager will be a strategist and a leader able to steer the company in the most profitable direction while also implementing its vision, mission, and long-term goals.

Brief Job Description: The Mandarin site supervisor will be a strategist and a leader able to steer the company in the most profitable direction while also implementing its vision, mission, and long-term goals.

Basic Qualification: Proven experience as Mandarin deputy project manager, excellent communication, interpersonal, and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin site supervisor, excellent communication, interpersonal, and presentation skills. Salary Range: Php 30,000 - Php 59,999

GOOD FUTURE TRAVEL AND TOURS CORP. 5/f Regray Bldg., 705 J.p Rizal St., Valenzuela, City Of Makati

30.

NGUYEN THI CAM Visa Specialist And Tour Coordinator Brief Job Description: Performs other duties assigned.

Basic Qualification: Extremely detail oriented and well regimented in handling simultaneous tasks. Salary Range: Php 30,000 - Php 59,999

HA LONG PILIPINAS INC. 63 San Luis St., Barangay, Barangay 11, Pasay City SONG, JIANWEN Accounting Assistant

Basic Qualification: Preferably with 3-5 years of work experience and must be fluent in speaking Mandarin and English language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Can speak Mandarin language.

GEDI CONSTRUCTION DEVELOPMENT CORPORATION Level 15 6750 Ayala Ave., Office Tower Ayala Ave., San Lorenzo, City Of Makati

ZHANG, RONGYI Mandarin Site Supervisor

Basic Qualification: Proficient in speaking, reading and writing in Vietnamese language.

Basic Qualification: Can contribute information, ideas, and research to help develop marketing strategies and can help detail, design, and implement marketing plans for each product or service being offered.

FLYING FUTURE SERVICES INC. 21/f Yuchengco Tower 1 Rcbc Plaza, 6819 Ayala Ave, Bel-air, City Of Makati

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

Basic Qualification: Degree in Computer Science or Information Technology.

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

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

Basic Qualification: Excellent verbal and written communication both in English and Mandarin Chinese languages. Strong public speaking skills.

Brief Job Description: Researches and develops various marketing strategies for products and services, implements marketing plans and works to meet sales quotas.

YANG, SANQI Marketing And Sales Agent

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

Basic Qualification: Minimum 3 years working in an international dredging and land development company.

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

31.

WONG, CHI LAM Mandarin Speaking Product Marketing Specialist

Brief Job Description: Researches and develops various marketing strategies for products and services, implements marketing plans and works to meet sales quotas.

QUALIFICATION AND SALARY RANGE

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

DIGITEXT INC. Ub 111 Paseo De Roxas Bldg.,, Paseo De Roxas, San Lorenzo, City Of Makati

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

21.

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

DIGICHROM INC. Unit 2001-a, 2602 & 2603 20/f & 26/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

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

Brief Job Description: Monitor network performance and troubleshoots problem areas as required.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LIU, ZHIPENG Marketing And Sales Agent

CLICKPLAY SPORTSGAME CORP. 3/f #119, Dr. Lazcano St., Laging Handa, Quezon City

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

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

Brief Job Description: Monitor network performance and troubleshoots problem areas as required.

XIANG, YUNBEI Chinese Speaking Cabling Infrastructure Technician

Salary Range: Php 30,000 - Php 59,999 AMDOCS PHILIPPINES INC. 23rd, 25th, And 26th Floors Eco Tower, 32nd St. Cor. 9th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 21st Floor Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Vietnamese, Thai and English languages with an ability to compose grammatically correct, concise and accurate written responses. Excellent interpersonal skills, with the ability to communicate complex issue correctly and clearly to both internal and external customers. Intermediate skill with Microsoft Office including Outlook, Word and Excel.

No.

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Vietnamese, Chinese and Thai languages. Excellent interpersonal skills, with the ability to communicate complex issues to internal and external customers.

QUALIFICATION AND SALARY RANGE

BIG PHILIP HEAVY EQUIPMENT CORPORATION Unit 25-c, Cleveland The Asiaworld City, Don Galo, City Of Parañaque

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

AMAZON OPERATION SERVICES PHILIPPINES INC. 4/f Unit 2c, One E-com Center Building Ocean Drive, Mall Of Asia Complex St., Barangay 76, Pasay City

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

ESTABLISHMENT / ADDRESS

BETUR, INC. (COINS.PH) 30/f Union Bank Plaza, Meralco Ave. Cor. Onyx Road, Ortigas Center, San Antonio, City Of Pasig

AM-PRO IMPORTS MARKETING CORP. 16e Residenza Suites, 429 Shaw Blvd., Addition Hills, City Of Mandaluyong

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

13.

LIN, XIANGYANG Key Accounts Specialist Consultant

Brief Job Description: Managing incoming calls and customer service inquiries. MEI SHANDY HALIM Indonesian Customer Service Representative

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

Basic Qualification: Can develop strong positive relationships with executive and management contacts. Can develop Annual revenue and sales plans for assigned location.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ELVIN Indonesian Customer Service Representative

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

AGENCY FOR TECHNICAL COOPERATION AND DEVELOPMENT (ACTED)-BRANCH OFFICE Unit 212, Haig Cheng Bldg., Daang Bakal, City Of Mandaluyong

HAYTHORNTHWAITE, GINNY MARY MOSS Country Director

No.

www.businessmirror.com.ph

Brief Job Description: Responsible for assisting Accountants with basic bookkeeping and accounting tasks. Duties include reconciling bank records and drafting financial documents. YEUNG, GUO LANG Finance Assistant

32.

Brief Job Description: In charge of keeping track of the organization’s finances. Enter data to databases, prepare financial statements, process invoices, and support other employees throughout any accounting processes.

Basic Qualification: College graduate. With extensive knowledge of MS excel and basic accounting software. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate. With sufficient knowledge in MS Excel application and basic accounting software. Salary Range: Php 30,000 - Php 59,999

HUAWEI TECHNOLOGIES PHILS. INC. 53/f Pbcom Tower, 6795 Ayala Ave., Cor., V.a. Rufino St., Bel-air, City Of Makati

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

WEI, ZIQIU Account Manager For Philippines Enterprise Business Dept. 33.

34.

Brief Job Description: Responsible for the government business department development and project analyzing in charge of customer relationship planning and management in accordance to company’s strategy.

FANG, DAN Human Resource Manager For Globe Transport Program Brief Job Description: Responsible for selecting, employing, retaining and cultivating human resources personnel. LI, PENGSHUAI Product Manager

35.

Brief Job Description: In charge of mobile products launch planning and management in accordance to company`s strategy.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Graduated with a bachelor’s degree in Marketing & Sales Management or other related courses, preferably with Master’s degree and highly proficient in Chinese and English languages.

36.

Brief Job Description: Ensure client needs are satisfied by constructing partnerships between the Project Office, clients, vendors and organization and managing the implementation of these partnerships to ensure positive customer satisfaction.

45.

Basic Qualification: Proficient in speaking, reading and writing in Mandarin language.

NING, ENLIANG Operation Supervisor 46.

37.

Brief Job Description: Representing the organization at functions, public meetings and industry events.

Basic Qualification: Proficient in speaking, reading and writing in Mandarin language.

MA VAN KHU Sales Consultant 47.

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

Basic Qualification: College graduate. With at least 10 years of professional experience as practice leader in a related industry.

38.

Brief Job Description: Handle functional requirements in Core Banking Product.

CHITHIRA SOMAN, MEEJU Technology Lead - EV - Finacle Specialist 39.

Brief Job Description: Handling assignments in core banking product. Handling clients at various international locations.

Basic Qualification: Bachelor’s Degree in Business Management. Excellent communication skill, verbal or written.

No.

61.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management. Excellent communication skill, verbal or written.

62.

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

Basic Qualification: Experience living overseas for an extended period of time and working across time zone.

48.

49.

Salary Range: Php 500,000 and above 50.

Basic Qualification: At least 4 years of relevant work experience is required. Salary Range: Php 90,000 - Php 149,999

51.

Basic Qualification: With at least 12 years of experience in finacle technology. Salary Range: Php 150,000 - Php 499,999

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

Basic Qualification: Bachelor’s Degree in Business Management. Excellent communication skill, verbal or written.

52.

INTERNATIONAL ELEVATOR & EQUIPMENT, INC. Km. 23, West Service Road, Cupang, City Of Muntinlupa

CUI, ZEYU Chinese Customer Service Brief Job Description: Customer support and data base services.

JIN, YANPENG Chinese Customer Service Brief Job Description: Customer support and data base services.

LI, JIALONG Chinese Customer Service Brief Job Description: Customer support and data base services.

LIU, BING Chinese Customer Service Brief Job Description: Customer support and data base services.

LIU, ZHIHUI Chinese Customer Service Brief Job Description: Customer support and data base services.

63.

64.

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

65.

66.

40.

Brief Job Description: Perform duties and responsibilities and such powers as prescribed by the Board of Directors/President. Contributes to strategic business development, and the profitability of the company as determined by the company’s strategic goals.

Basic Qualification: Elected by the Board of Directors.

53.

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

KINTETSU WORLD EXPRESS (PHILIPPINES) INC. Jjm 6 Amvel Business Park, Ninoy Aquino Avenue, San Dionisio, City Of Parañaque 54. TAKADA, TAIICHI Assistant General Manager For Business Development 41.

Brief Job Description: Manage/oversee the implementation of appropriate sales/marketing strategies to attain volume, revenue and profit objectives for the area of responsibility, and directly reports to the Chairman/President.

Basic Qualification: College graduate. With at least 10 years of minimum work experience in a Japanese freight forwarding company in the same capacity. Salary Range: Php 150,000 - Php 499,999

55.

NIU, HONGQIANG Chinese Customer Service Brief Job Description: Customer support and data base services.

SHEN, MENG Chinese Customer Service Brief Job Description: Customer support and data base services.

ZHANG, CHAO Chinese Customer Service Brief Job Description: Customer support and data base services.

LARSEN & TOUBRO LIMITED - PHILIPPINE BRANCH G/f Highway 54 Plaza, 986 Stanford, Wack-wack Greenhills, City Of Mandaluyong ROY CHOWDHURY, SUROJIT Project Cost Controller 42.

Brief Job Description: Monitoring and analyzing project-based costs. Cooperating with project managers to help them meet budgeting goals.

Basic Qualification: College graduate. With at least 20 years of previous work experience in a similar role.

43.

Brief Job Description: Coordinating internal resources and vendors for the flawless execution of projects. Ensuring that all projects are delivered on-time, within the project scope and budget.

56.

57.

Basic Qualification: College graduate. With at least 3 years of work experience in a related field. With multi language competence. Salary Range: Php 90,000 - Php 149,999

58.

MARKETROLE ASIA PACIFIC SERVICES, INC. 27/f & 28/f The Enterprise Center Tower 1, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati 59. SHI, XIN Customer Service Representative 44.

Brief Job Description: Provide outstanding and exceptional customer service.

SAI KHAM NAW Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

MARINA SQUARE PROPERTIES, INC. 5/f Ag New World Manila Bay Hotel 1588, 1588 Mh Del Pilar Cor. P Gil., 076, Barangay 699, Malate, City Of Manila

SUN, HONGYANG Project Manager

NGO DAI DUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN, TRUNG DUC Vietnamese Customer Service Brief Job Description: Customer support and data base services.

Basic Qualification: Can speak Chinese/ Mandarin language fluently.

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

Brief Job Description: Customer support and data base services.

HOANG, THI THANH THUY Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LUONG, THI HONG HANH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

60.

MAC, ANH HOANG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

Brief Job Description: Customer support and data base services.

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

67.

68.

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

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

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

70.

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

71.

72.

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

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

Brief Job Description: Analyzing past operations’ results and performing variance analysis.

Brief Job Description: Analyzing past operations’ results and performing variance analysis. Identifying and analyzing trends and forecast and recommending improvements to the business processes.

Brief Job Description: Versatile technical consultant to assess and maintain the information technology systems.

Basic Qualification: College graduate. Fluent in Chinese-Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate. Excellent problem-solving, communication and teamworking skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Extensive experience as a technical consultant in a related industry. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Evaluating and optimizing marketing and pricing strategies. Analyzing market trends and preparing forecasts.

Basic Qualification: College graduate. Fluent in Chinese-Mandarin language. With previous experience in a similar role. Salary Range: Php 30,000 - Php 59,999

LIANG, ZUQI Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

XIA, RUITAO Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999

PARTRIDGE TECHNOLOGIES INC. 1466 Gen. Luna St., 073, Barangay 673, Paco, City Of Manila LIU, LEI Customer Service Representative 73.

Brief Job Description: Addressing customer concerns and issues through phone calls and email. QI, SHURUI Customer Service Representative

74.

Brief Job Description: Addressing customer concerns and issues through phone calls and email.

Basic Qualification: Competent and punctual. Salary Range: Php 30,000 - Php 59,999

PHILIPPINE FULL DEGREE COMMUNICATIONS CORP. 18/f Yuchengco Tower 1, Rcbc Plaza, 6819 Ayala Ave., Bel-air, City Of Makati

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

Brief Job Description: Customer support and data base services.

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

ONE BORDERLINE CREATIVES INC. Unit 11-ij3, 11/f Burgundy Corporate Tower, 252 Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

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

VU VAN BIEN Vietnamese Customer Service

CHEN, YONGSHA Chinese Speaking Marketing Manager

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

Brief Job Description: Customer support and data base services.

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

NEWBIE STATION LOGISTIC INC. Unit 2116-2117 High Street South Corporate Plaza Tower 2, 26th Street Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

TRINH THI PHUONG UYEN Vietnamese Customer Service

LIN, XIAOYING Technical Consultant

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

Brief Job Description: Customer support and data base services.

ZHENG, ZHENHUAI Research Analyst For Chinese Clients

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

TRAN NGOC THUY Vietnamese Customer Service

HUANG, MUQING Research Analyst For Chinese Clients

75.

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

MCP BUSINESS CONSULTANCY INC. 207b 2nd Floor, 409 A. Soriano Ave., Barangay 656, Intramuros, City Of Manila

CHONG MY VAN Vietnamese Customer Service

SY, NHAT QUOC Vietnamese Customer Service

QUALIFICATION AND SALARY RANGE

NEW PRIME INDOOR CONSULTANCY CORP. Shop 2 No. 319, San Nicolas Street, Barangay 284, San Nicolas, City Of Manila

69. EZURA, TAKESHI Vice President

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg., 133 Quirino Ave., Tambo, City Of Parañaque

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

INFOSYS LIMITED PHILIPPINE BRANCH 6/f Cyber One Bldg., Eastwood Cyberpark City, Bagumbayan, Quezon City KARUPPANNAN, VENNILA Associate Consultant

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

QUALIFICATION AND SALARY RANGE

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

IGT TECHNOLOGIES PHILIPPINES INC. 6th Floor, 18/20 Upper Mckinley Road, Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

KUMMARAGUNTLA, PARTHA SARATHI Executive Vice President And Country Head

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHENG, HANGFENG Operation Supervisor

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

IBM BUSINESS SERVICES, INC. 7th To 9th Floors, 1800 Bldg., Eastwood City Cyberpark, Brgy. Bagumbayan, Quezon City BINDINGNAVALE SRINIVAS GOPAL, SATISH Delivery Project Executive

No.

Friday, November 24, 2023

LI, LI Mandarin Team Leader Brief Job Description: Develop a strategy,

Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999

RL PROPERTY MANAGEMENT, INC. 11/f Robinson’s Cyberscape Alpha, Garnet & Sapphire Roads, Ortigas Center, San Antonio, City Of Pasig

BusinessMirror

Friday, November 24, 2023

A6 A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

JOLLY, BARUN Business Unit General Manager 76.

Brief Job Description: Develop and execute strategies aligned with business objectives, responsible for overall business profitability and growth, effectively lead a tea, for optimum productivity.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Master’s in Business Administration, Bachelor’s degree in Hotel Management, and 10-15 years of experience in hotel management and operations.

77.

Brief Job Description: Accountable for operational, tactical and strategic contract sourcing. In charge of supply chain commercial and procurement teams.

91.

Brief Job Description: Preparing and submitting construction project budget estimates.

ZHANG, MENGGUANG Construction Manager 92.

Basic Qualification: College graduate. With previous work experience in a similar role. Possesses commercial and business acumen. Salary Range: Php 150,000 - Php 499,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION QIAO, BO Construction Manager

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

SHELL SHARED SERVICES (ASIA) B.V. 16/f-25/f Solaris One Bldg., 130 Dela Rosa St., San Lorenzo, City Of Makati

LEE KIAN YAOW SC Commercial Manager Canada

No.

Brief Job Description: Preparing and submitting construction project budget estimates.

CHEN, HAOJUN Equipment Manager 93.

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

SHOWBT PHILIPPINES CORP. 7/f Ascott Makati Glorietta 4, Ayala Center, San Lorenzo, City Of Makati KIM, KYUNG MIN Marketing Manager 78.

Brief Job Description: Develop and manage estimates at completion of projects.

Basic Qualification: Has an excellent managerial experience.

DU, LIANCHEN Equipment Manager 94.

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

SINOMA HDZC PHILIPPINES CO., INC. Unit 406 4/f National Life Insurance Bldg., 6762 Ayala Ave., San Lorenzo, City Of Makati

LI, WENXIANG Construction Inspector 79.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

LIU, HONGLIANG Construction Inspector 80.

Brief Job Description: Reviewing plans to determine whether they are in accordance with the building codes.

WANG, HONGWEI Construction Inspector 81.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

XU, XIANFENG Construction Inspector 82.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

YANG, HAOFENG Construction Inspector 83.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

YANG, JINCHENG Construction Inspector 84.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

ZHANG, GUICHENG Construction Inspector 85.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

ZHANG, HAO Construction Inspector 86.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

ZHANG, HONGBING Construction Inspector 87.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

GUO, HAIFENG Equipment Manager 95.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

96.

97.

98.

99.

100.

101.

102.

88.

Brief Job Description: Reviewing plans to determine whether they are in accordance with building codes.

103.

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

LI, GUOJUN Construction Manager 89.

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

PAN, PENGHUI Construction Manager 90.

Brief Job Description: Preparing and submitting construction project budget estimates.

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Planning, organizing, directing, and evaluating projects.

WANG, ZHENXIN Equipment Manager 105.

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

WANG, JIQING Equipment Manager

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

WANG, JIANNENG Equipment Manager

104. ZHANG, LEIKE Construction Inspector

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

WANG, HAIBAO Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

QU, FANTAO Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

QIN, ZHIQING Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

QIN, YANJUN Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

MENG, JUNFENG Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

LI, LONGLONG Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects

GUO, HONGXING Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

Brief Job Description: Supervise projects workers and ensure that they stick project specification and guidelines.

WEN, XIAOPING Equipment Manager 106.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

WU, DONGYA Equipment Manager 107.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

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ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

No.

XI, DEQUAN Equipment Manager 108.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

109.

110.

111.

112.

113.

114.

115.

116.

117.

118.

119.

120.

121.

122.

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

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

LIU, SHUPING Project Assistant 123.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

LIU, MINGWEI Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

LIU, HUILONG Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

LIU, FUWU Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

LI, XINTONG Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

LI, SAICHAO Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

JING, XINHUI Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

HU, HAITAO Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

HAN, SHENGHE Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise projects workers and ensure that they stick project specification and guidelines.

GUO, ZHICAI Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

GU, MINGMING Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

DUAN, XINGWEI Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

DU, YONGSHENG Project Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

ZHANG, SHENGHUA Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

XU, BAOAN Equipment Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

LIU, SHUXING Project Assistant 124.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

QUALIFICATION AND SALARY RANGE Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION MA, GUANGCHAO Project Assistant

125.

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

MO, SHAOKANG Project Assistant 126.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

PAN, HAIQIAN Project Assistant 127.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

SHEN, JUNJIE Project Assistant 128.

Brief Job Description: Supervise projects workers and ensure that they stick project specification and guidelines.

SUN, LIMING Project Assistant 129.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

WANG, QUANWEI Project Assistant 130.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

WANG, SHUAIQI Project Assistant 131.

Brief Job Description: Supervise projects workers and ensure that they stick project specification and guidelines.

WANG, ZHAOTAN Project Assistant 132.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

WANG, ZHIHONG Project Assistant 133.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

WU, DONGFENG Project Assistant 134.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

WU, WENYING Project Assistant 135.

Brief Job Description: Planning, organizing, directing, and evaluating projects.

YAN, ZHUANGZHUANG Project Assistant 136.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

YANG, ENLI Project Assistant 137.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

YANG, JIANGTAO Project Assistant 138.

Brief Job Description: Supervise projects workers and ensure that they stick project specification and guidelines.

YANG, JINGXIANG Project Assistant 139.

Brief Job Description: Supervise project workers and ensure that they stick to project specifications and guidelines.

YANG, PENGYA Project Assistant 140.

Brief Job Description: Planning, organizing, controlling and evaluating projects from start to finish.

ZHANG, GUIQIANG Project Assistant 141.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

No.

142.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

ZHU, AYA Project Assistant 143.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

FENG, YANAN Business Development Manager 144.

145.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

146.

Brief Job Description: Negotiation and liaising with third-party marketing agencies.

MAO, LONGWEI Marketing Manager 147.

No.

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

LY LE THUONG Recruitment Associate (Vietnamese Speaking) 156.

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

Basic Qualification: Ability to manage complex projects and multi-task. Customer-oriented attitude.

Brief Job Description: Scheduling interviews, changing the calendar as needed, returning phone calls, and checking emails.

Basic Qualification: A team player with leadership skills.

LY VI DUONG Recruitment Associate (Vietnamese Speaking) 157.

Brief Job Description: Scheduling interviews, changing the calendar as needed, returning phone calls, and checking emails.

Brief Job Description: Gather and analyze information to identify new markets and customers. Conduct market research, sales forecasting and strategic planning to assess.

LIEW ZE WEE Bilingual SEO Officer 148.

Brief Job Description: Work with the development team to ensure SEO best practices are properly implemented on newly developed code.

VAN QUOC PHONG Recruitment Associate (Vietnamese Speaking) 158.

WEICHAI SINGAPORE PTE. LTD. (WEICHAI PHILIPPINES REPRESENTATIVE OFFICE) Unit 6-b Azure Business Center, 1197 E. Delos Santos Ave., Area 2, Katipunan, Quezon City WANG, YANHAI Service Manager

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

149.

Brief Job Description: Handles service support calls, emails and chats related to clients inquiry.

160.

150.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English language translation.

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

Brief Job Description: Monitoring and maintaining computer systems and networks. XIAO, WEIHAI Mandarin Technical Support

161.

Brief Job Description: Monitoring and maintaining computer systems and networks.

162.

163.

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

Basic Qualification: Fluent in English, Mandarin and any language. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Providing details to clients relative to services being offered.

Brief Job Description: Provide support services across technology programs and projects.

VISSIONARIES INC. 20/f Salcedo Towers, 169 H.v. Dela Costa St., Bel-air, City Of Makati 15/f Salcedo Towers, 169 H.v. Dela Costa St., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

LOW CHUN SIEN Recruitment Associate (Malaysian Speaking) 151.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

WONG YING HUA Recruitment Associate (Malaysian Speaking) 152.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Scheduling interviews, changing the calendar as needed, returning phone calls, and checking emails.

LIN, TZU-HSUAN Recruitment Associate (Taiwanese Speaking) 153.

Brief Job Description: Scheduling interviews, changing the calendar as needed, returning phone calls, and checking emails.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

SU, WAN-RU Recruitment Associate (Taiwanese Speaking) 154.

Brief Job Description: Scheduling interviews, changing the calendar as needed, returning phone calls, and checking emails.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

LUONG BICH LIEN Recruitment Associate (Vietnamese Speaking) 155.

Brief Job Description: Scheduling interviews, changing the calendar as needed, returning phone calls, and checking emails.

Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the recruitment.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the above position. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the position. Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: Proficient in speaking Vietnamese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Vietnamese language.

Brief Job Description: Provide support services and resolve issues.

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

165.

Basic Qualification: Demonstrable experience in marketing together with the potential and attitude required to learn.

LEI, PENG Mandarin Site Manager Brief Job Description: Planning and defining scope of the project.

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

XSPACE SERVICE OFFICE INC. U-a&b 20/f Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, City Of Makati Basic Qualification: Proven experience as marketing manager, familiarity, knowledge and awareness on machinery and heavy equipment used by company. Demonstrable experience in developing strategic business plan.

TAN, YINGKUI Marketing Manager 166.

Brief Job Description: The marketing manager will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the recruitment.

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

XIAN ELECTRIC ENGINEERING COMPANY LIMITED PHILIPPINES BRANCH 2204 22/f The Podium West Tower, 12 Adv Avenue W Ortigas, Wack-wack Greenhills, City Of Mandaluyong

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the position.

Basic Qualification: Can speak Mandarin language.

PHUNG TRI HUNG Vietnamese Language Support Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

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

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

LI, JYUN-YING Chines Language Marketing Staff

HA UNG KHANG Vietnamese Language Support Service Basic Qualification: Fluent in English, Mandarin and any language.

Basic Qualification: Can speak Mandarin language.

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

164. DAO MY PHUNG Customer Relation Representative (Mandarin Translation)

Brief Job Description: Delegating and directing service tasks and monitoring the progress of current project. Handling customer complaints or concerns quickly and professionally to maintain good customer relationship.

SHAO, TIANSHU Mandarin Technical Support

Basic Qualification: Expert in bilingual languages. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate. Fluent in English language and with at least 4 years of work experience in a related industry.

WIKITECH SERVICES INC. 10/f Alphaland Corporate Tower, 7232 Ayala Avenue Ext. Corner Malugay St., Bel-air, City Of Makati

VICCI BUSINESS CONSULTANCY CORP. 10/f Liberty Plaza, 102 H.v. Dela Costa St., Bel-air, City Of Makati

CHAN, KUN-SHIANG Customer Relation Representative (Mandarin Translation)

Brief Job Description: Scheduling interviews, changing the calendar as needed, returning phone calls, and checking emails.

Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the recruitment Salary Range: Php 30,000 - Php 59,999

159.

Basic Qualification: College graduate. Fluent in Chinese-Mandarin and English languages. With at least 4 years of work experience in a related field.

Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the recruitment. Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Basic Qualification: Graduate of any college course. Preferably 6 months to 1-year experience with the position. Salary Range: Php 30,000 - Php 59,999

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Resolving customer complaints quickly and efficiently.

LI, LONGFEI Marketing Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

THE LEGACY TRUCKS AND TRACTORS INC. #1250, Edsa, Apolonio Samson, Quezon City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Responsible for driving business growth within a company.

CHEN, CHEN-HUA Customer Relations Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience.

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

QUALIFICATION AND SALARY RANGE

STARLIGHT BUSINESS CONSULTING SERVICES INC. 5/f Salustiana D. Ty Tower, 104 Paseo De Roxas, Legaspi Village, San Lorenzo, City Of Makati

Basic Qualification: Know how to speak, write and read English language with 3 to 5 years work experience. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Supervise project workers and ensure that they stick to project specification and guidelines.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ZHANG, QIANG Project Assistant

Friday, November 24, 2023

LIANG, SUHUI Sales Manager 167.

Brief Job Description: The sales manager will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

Basic Qualification: Proven experience as sales manager, familiarity, knowledge and awareness on machinery and heavy equipment used by company. Demonstrable experience in developing strategic business plan. Salary Range: Php 30,000 - Php 59,999

*Date Generated: Nov 23, 2023 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.

A10

BusinessMirror

Friday, November 24, 2023 Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

November 24, 2023 Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

QUALIFICATION AND SALARY RANGE

NO.

ESTABLISHMENT

ANOC99 CORPORATION

KYAR HAO

Basic Qualification:

POGO 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Brief Job Description: Manage incoming calls and customer service inquiries 2

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Manage incoming calls and customer service inquiries MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Chinese Customer Service Representative

Able to speak, read and write Chinese language

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Able to speak, read and write Chinese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Manage incoming calls and customer service inquiries

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Php30,000 – Php59,999

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

LUO, HUOQUAN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Php30,000 – Php59,999 Basic Qualification:

Brief Job Description:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Chinese Customer Service Representative

Able to speak, read and write Chinese language

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Php30,000 Php59,999 Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php30,000 Php59,999

NONG, THI NU

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Manage incoming calls and customer service inquiries 20

Salary Range:

NONG, MANH THANG

Brief Job Description:

Php30,000 – Php59,999

Basic Qualification:

Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP.

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 19

Salary Range:

NGUYEN, VAN THAO

Brief Job Description:

Salary Range:

ZHOU, GUANGQING

Brief Job Description:

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Salary Range:

WU, DI

MOA CLOUDZONE CORP.

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 18

Salary Range:

NGUYEN, THI VINH

Brief Job Description: 7

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries

Salary Range:

NGUYEN THI LAP

Brief Job Description:

MOA CLOUDZONE CORP.

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Salary Range:

NGUYEN THI HUE

Brief Job Description:

MOA CLOUDZONE CORP.

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries MOA CLOUDZONE CORP.

Salary Range:

LY, PHI DUONG

Brief Job Description:

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 14

Salary Range:

LE, THI THUONG

Brief Job Description:

17 Brief Job Description:

MOA CLOUDZONE CORP.

Php30,000 Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 13

Salary Range:

LANG NGOC YEN

Brief Job Description:

Php30,000 – Php59,999

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Salary Range:

Basic Qualification:

Able to speak, read and write Chinese and Vietnamese language

Manage incoming calls and customer service inquiries

LI, XIAOMEI

Vietnamese Customer Service Representative

Brief Job Description:

Php30,000 – Php59,999

HUANG, ZONGCHANG

Brief Job Description:

Salary Range:

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Php30,000 – Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries

Salary Range:

CHEN, JIANGHE

Brief Job Description:

Php30,000 – Php59,999

NAY CHI OO

Brief Job Description:

Salary Range:

Basic Qualification:

Manage incoming calls and customer service inquiries

Php30,000 – Php59,999

KHAING THAZIN SOE

Brief Job Description:

Salary Range:

DOAN, NGOC ANH

Brief Job Description:

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

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Salary Range: Php30,000 Php59,999

PHAN VAN TUE

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Salary Range:

Brief Job Description:

Php30,000 – Php59,999

Manage incoming calls and customer service inquiries

Salary Range: Php30,000 Php59,999

TheWorld

Friday, November 24, 2023 A11

www.businessmirror.com.ph

Record Thanksgiving travel rush off to smooth start amid snowy forecast By Dee-Ann Durbin

AP Business Writer

HE late crush of holiday travelers picked up steam Wednesday, with about 2.7 million people expected to board flights and millions more planning to drive or take the train to Thanksgiving celebrations. Airline officials say they are confident they can avoid the kind of massive disruptions that have marred past holiday seasons, such as the meltdown at Southwest Airlines over last Christmas. As of Wednesday evening that appeared to be the case. US airports reported 59 flight cancellations into, out of or within the US Wednesday and 2,750 flight delays, according to FlightAware, a tracking service. FlightAware said anything less than 300 cancellations and 4,000 delays per day is considered very good. Buffalo Niagara International Airport in New York said it was checking all vehicles arriving at the airport and performing additional security screenings after a car crashed and exploded at a nearby checkpoint on the US-Canada border. But the airport said it remained open and fully operational. All four border crossings in the area were closed, the Niagara Falls Bridge Commission said. Snow showers could snarl traffic in other parts of the country. The National Weather Service was predicting accumulating snow in northern New England Wednesday, including up to 8 inches (20 centimeters) of snowfall in northern Maine. Snow was also expected to hit the northern Rocky Mountains on Thanksgiving Day, bringing up to 1 foot of snow to parts of Wyoming by Friday. Security lines at airports could be long. Delta Air Lines is telling passengers to arrive at the airport at least two hours before their flight if they are traveling within the United States, three hours early if they’re flying overseas—and maybe earlier on Sunday and Monday. Jordan Sessions heeded that advice and got to the airport early Wednesday for a f light from Portland, Oregon, to Oakland, California. But the Portland airport wasn’t crowded and the check-in lines were short, so he wound up waiting a bit for his f light.

That wasn’t the case for Brittany Dandridge, who found lines out the door when she arrived for her flight from Dallas to Oakland. “Luckily I was traveling with my dog and they allowed me to skip the line,” she said. The Transportation Security Administration said it screened more than 2.6 million passengers Tuesday and it expected another 2.7 million passengers to come through airport security on Wednesday. On Sunday, it expects to screen 2.9 million passengers, which would surpass a previous record set on June 30. Lines ebbed and flowed all morning Wednesday at Moynihan Train Hall in New York. Some travelers said they opted to travel by train for convenience or lower prices. Others said they just wanted to avoid any chaos at the airport. Matthew Hudnall and Abby Greenbaum were traveling from Atlanta to New York to Boston to visit family with their 5-year-old daughter. By the time they reach Boston, they will have taken a total of nine trains, they said. “I think we thought it would be calmer and less stressful than flying. So, far that’s true,” Greenbaum said. Amtrak said it was expecting 750,000 passengers between Nov. 19 and Nov. 26. The company said travelers could see some boarding delays this weekend because of high passenger volumes. The holiday will also test the Federal Aviation Administration, which faces shortages of air traffic controllers at key facilities that caused reductions in flights to the New York City area this summer and fall. US Transportation Secretary Pete Buttigieg said during a news conference Monday that the government prepared for holiday travel by hiring more air traffic controllers, opening new air routes along the East Coast and providing grants to airports for snowplows and deicing equipment.

Airlines have also added tens of thousands of employees in the last couple of years, and Southwest says it bought more winter equipment to keep planes moving even during sub-freezing temperatures. AAA predicts that 55.4 million people will travel at least 50 miles (80 kilometers) from home between Wednesday and Sunday, the third highest forecast ever by the auto club. AAA says most of them—49.1 million—will drive. Drivers will get a break from last year on gasoline prices. AAA says the nationwide average for gas was down to $3.28 a gallon on Wednesday, compared with $3.63 a year ago. Charging stations—not gas prices—were on the mind of Guy Maughan as he set out last week in his Tesla on a 13-day Thanksgiving road trip that will take him from his home near Seattle to his brother’s home in Los Angeles and then to his parents in Phoenix. Maughan said he and his travel companion—a 7-month-old golden doodle named Nala—expect to spend only about $150 to charge the car along the 3,000mile (4,800-kilometer) route. “I love driving, I love road trips, and the car takes care of all the heavy lifting,” said Maughan, who is a real estate agent. “I just put in the destinations and it tells me where we’re going to stop. I’m thoroughly enjoying it.” Air travelers will enjoy lower prices too. Airfares in October were down 13 percent from last year, according to government figures, and fares around Thanksgiving have been about 14 percent lower than a year ago, according to the travel site Hopper. Even so, the high cost of rent, food, health care and other expenses were weighing on people’s travel plans. Jason McQueary, a 25-yearold social worker and graduate student, said rent and other essentials eat up most of his paycheck and he was grateful for his credit card points, which brought down the cost of his round-trip flight from Denver to Chicago from $450 to $150. “I was just like, ‘Man, I’m glad I only come home once a year,’” said McQueary, who was waiting to get picked up Tuesday after arriving to Chicago O’Hare International Airport to spend Thanksgiving with family in his hometown of Byron, Illinois. The Associated Press writer Claire Savage and photographer Erin Hooley in Chicago, Associated Press Video Journalist Terry Chea in Oakland, California, and Associated Press writer Joseph Frederick in New York contributed to this report.

Dollar scarcity pushes more African countries to crisis By Colleen Goko & Karl Lester M. Yap

FRICAN governments are scrambling for dollars, and that’s creating a new dividing line for investors. Amid a deepening shortage of hard currency on the continent, governments are turning to bartering, currency devaluations, central bank exchange controls, and help from the International Monetary Fund and Middle East to shore up their balance sheets. Investors are rewarding nations whose efforts to boost dollar liquidity are paying off. But they’re punishing those that can’t guarantee access to the currency they need to invest and repatriate returns, and are steering clear of countries without adequate reserves to cover import costs or debt repayments. African currencies are the worst performers in the world this

year, with about a dozen sliding at least 15 percent against the dollar. “Dollar holdings are part of the value proposition,” said Benedict Craven, country risk manager at the Economist Intelligence Unit. “Will investors be able to trade using foreign exchange from official sources? Will they be able to expatriate their dividends abroad? These questions are separating where investment is going.” The dollar squeeze has played out most obviously in local currencies. “The foreign funding squeeze implies African countries are unable to fully finance their current-account deficits, leading to foreign exchange shortages,” said Yvonne Mhango, Africa economist at Bloomberg Economics. “The most vulnerable countries are those with overvalued currencies, including Nigeria, Kenya and Angola, and those with low foreign-exchange reserves,

like Malawi.” Eurobond issuers who were forced to devalue this year include Egypt, Nigeria and Angola. Dwindling capital inflows have also seen the likes of Kenya’s shilling and Zambia’s kwacha weaken to record lows versus the greenback. The former has sizable dollar-debt repayments due next year, while the latter is in default on its eurobonds. Kenya’s dollar bonds have handed investors losses of 2.1 percent since the beginning of July, when US Treasury rates started rising as the “higher-for-longer” interest-rate narrative took hold. That compares with the 1.7 percent average loss for emerging and frontier peers in a Bloomberg sovereign dollar bond index. Nairobi’s benchmark stock index has slumped 32 percent in 2023, the Continued on A13

A12 Friday, November 24, 2023

TheWorld BusinessMirror

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

Israel unveils what it claims a major Hamas hideout beneath Gaza City’s Shifa Hospital By Victor Caivano

The Associated Press

AZA CITY, Gaza Strip—The Israeli military on Wednesday unveiled what it claimed was a Hamas military facility under Gaza’s largest hospital, showing what appeared to be a subterranean dormitory to a group of foreign journalists who were given a rare glimpse inside the besieged enclave.

Dozens of soldiers escorted journa l ists t hrough a nar row stone tunnel—which the militar y said stretched 150 meters (164 yards)— to a series of underground bunkers beneath Shifa Hospital in a shattered Gaza City. The living quarters, located at the end of the tunnel, had an air conditioner, kitchen, bathroom and pair of metal cots in a room fashioned from rusty white tile. They appeared to be out of use. Since Israel declared war against Hamas on October 7, it has repeatedly accused the Islamic militant group of using Gaza’s hospitals as cover for

military use. It has paid special attention to Shifa, saying Hamas has hidden command centers and bunkers underneath the hospital’s sprawling grounds. Israel has not yet unveiled this purported center, but the military portrayed the underground hideout as its most significant discovery yet. Hamas and the hospital administration have denied Israel ’s accusations. “Shifa Hospital is the hugest hospital in Gaza, and it’s also the hugest terror facility of Hamas,” said Rear Adm. Daniel Hagari, the Israeli military’s chief spokesperson,

ISRAELI soldiers show the media an underground tunnel found underneath Shifa Hospital in Gaza City on Wednesday, November 22, 2023. Israel says that Hamas militants sought cover on the grounds of the hospital and used the tunnel for military purposes. AP/VICTOR R. CAIVANO as bombardment thundered nearby. “Hamas battalion commanders were conducting command and control, firing rockets from here.” The Associated Press could not independently verify Hagari’s claims. The AP was allowed access to Gaza on the condition that its journalist stay with the Israeli military convoy throughout the four-hour tour and submit all material to a military censor ahead of publication. There is no other way for foreign journalists to currently access the enclave. The war was triggered by Hamas’ October 7 cross-border attack that

killed some 1,200 people and took 240 others hostage. Israel’s intense aerial campaign and devastating ground invasion have leveled entire neighborhoods, and well over 11,000 Palestinians have been killed in the fighting, according to health officials in the Hamas-ruled territory. Bent on toppling Gaza’s Hamas rulers, Israel describes the heavy toll as the inevitable cost of fighting militants who use civilians as human shields and fire rockets from densely populated neighborhoods. Israel says at least some of the hostages were brought to Shifa.

Truce deal for hostage release hits snag, now expected to start Friday By Wafaa Shurafa & Kareem Chehayeb

into southern Israel, killing at least 1,200 people, mostly civilians, and taking scores of hostages, including babies, women and older adults, as well as Israeli soldiers. Israel has a long history of agreeing to lopsided prisoner swaps with militant groups, and Hamas is expected to demand a large number of high-profile Palestinian prisoners in exchange for the soldiers.

The Associated Press

EIR AL-BALAH, Gaza Strip— An agreement for a four-day cease-fire in Gaza and the release of dozens of Hamas-held hostages and Palestinians imprisoned by Israel appeared to have hit a lastminute snag when a senior Israeli official said it would not take effect until Friday, a day later than originally announced. T he d iplomatic brea kt hrough promised some relief for the over 1.7 million Palestinians who have fled their homes under weeks of Israeli bombardment, as well as families in Israel fearful for the fate of their loved ones captured during Hamas’ October 7 attack that triggered the war. Israel’s national security adviser, Tzachi Hanegbi, announced the delay late Wednesday, without providing a reason. Israeli media reported that some final details were still being worked out. The Persian Gulf nation of Qatar, which played a key role in mediating with Hamas, said early Thursday that a new time for the agreement to go into force would be announced “in the coming hours.” It was originally set to begin at 10 a.m. (0800 GMT) Thursday. The US and Egypt also helped negotiate the deal.

Netanyahu says truce won’t end war THE agreement had raised hopes of eventually winding down the war, now in its seventh week, which has leveled vast swaths of Gaza, fueled a surge of violence in the occupied West Bank, and stirred fears of a wider conflagration across the Middle East. But Prime Minister Benjamin Netanyahu told a nationally televised news conference that the war would resume after the truce expires, with the goal of destroying Hamas’ military capabilities, ending its 16-year rule in Gaza and returning all of the estimated 240 captives held in Gaza by Hamas and other groups. “The war is continuing. We will continue it until we achieve all our

Heavy toll on Gaza ISRAELI military vehicles are seen in the town of Tulkarem, West Bank on Wednesday, November 22, 2023. The Palestinian Health Ministry said the Israeli military killed six Palestinians, five of them militants, during a raid that sparked an hourslong firefight with militants in a flashpoint refugee camp in the northern city of Tulkarem. AP/MAJDI MOHAMMED goals,” Netanyahu said, adding that he had delivered the same message in a phone call to US President Joe Biden. Washington has provided extensive military and diplomatic support to Israel since the start of the war. If implemented, the deal temporarily freezes both sides at a tenuous moment. Israeli troops hold much of northern Gaza and say they have dismantled tunnels and much of Hamas’ infrastructure there. Israeli forces on Wednesday revealed what they said was a major Hamas hideout in a tunnel beneath Shifa Hospital. The territory’s largest medical center has been at the heart of a fierce battle of narratives over both sides’ allegedly reckless endangerment of civilians. Still, Israeli officials acknowledge that much of Hamas’ infrastructure remains intact, and have threatened to launch wider operations in southern Gaza, where hundreds of thousands of people who fled the north have crammed into overflowing UNrun shelters with dwindling food, water and basic supplies. For Hamas, the cease-fire would provide an opportunity to regroup after weeks of apparently heavy losses. Hamas leader Yehya Sinwar, who is believed to be alive and in hiding in Gaza, is likely to claim the release of Palestinian prisoners as a major achievement and declare victory if the war ends.

Hostages to be freed in stages UNDER the truce deal, 50 hostages will be freed in stages, in exchange for the release of what Hamas said would be 150 Palestinian prisoners. Both sides will release women and children first, and Israel said the truce would be extended an extra day for every additional 10 hostages freed by Hamas. The return of hostages could lift spirits in Israel, where their plight has gripped the country. Families of the hostages have staged mass demonstrations to pressure the government to bring them home. Qatar said the cease-fire would allow a “larger number of humanitarian convoys and relief aid” to enter Gaza, including fuel, but it gave no details on actual quantities. Israel cut off all fuel imports at the start of the war, causing a territory-wide blackout and leaving homes and hospitals reliant on generators, which have also steadily been forced to shut down. Netanyahu said the deal includes a provision for the International Committee of the Red Cross to visit the hostages in captivity. Israel’s Justice Ministry published a list of 300 prisoners eligible to be released, mainly teenagers detained over the past year for rock-throwing and other minor offenses. The war erupted when several thousand Hamas militants stormed

WEEKS of Israeli airstrikes in Gaza, followed by a ground invasion, have killed more than 11,000 Palestinians, according to the Health Ministry in the Hamas-run territory. It does not differentiate between civilians and militants, though some two-thirds of the dead have been identified as women and minors. The ministry said that as of Nov. 11 it had lost the ability to count the dead because of the collapse of large parts of the health system, but that the number has risen sharply since then. Some 2,700 people are missing and believed buried under rubble. Israel says it has killed thousands of Hamas fighters, though it has presented no evidence for its count. Three-fourths of Gaza’s population of 2.3 million have been displaced in the war. Many, if not most, will be unable to return home because of the vast damage and the presence of Israeli troops in the north. The UN agency for Palestinian refugees, known as UNRWA, said that more than 1 million Palestinians were seeking shelter in 156 of its facilities in Gaza, where many have been forced by overcrowding to sleep on the streets outside as a cold, rainy winter sets in. Israel has barred imports to Gaza since the start of the war, except for a trickle of aid entering through Egypt’s Rafah crossing. Humanitarian aid groups operating in Gaza said the truce was too short and the Rafah crossing’s capacity was insufficient to meet urgent needs. Chehayeb reported from Beirut. Associated Press reporter Najib Jobain in Khan Younis, Gaza Strip contributed.

On Wednesday, Israeli soldiers showed the foreign journalists weaponry they said they found at Shifa, including dozens of AK-47 assault rifles, 20 grenades and several drones. Hagari said the cache was just a small sample. The Israeli military has plowed through northern Gaza over the past month, leaving a trail of destruction in its effort to bomb Hamas’ tunnel network and other targets. Hamas fighters have used the underground network to ambush Israeli troops. In addition to the tunnel it showed journalists, the army says it had uncovered another two shafts near Shifa. Although the trip was tightly controlled by the Israeli army, journalists could still catch glimpses of life in Gaza. From outside the hospital gates, at least a couple dozen exhausted Palestinians could be seen gathering their belongings, apparently ahead of an evacuation. Hundreds of patients and doctors remain stranded at the besieged hospital. Thousands more who had been sheltering in its courtyard fled south last week as Israeli tanks drew close and fighting raged. At one point, severa l Pa lestinians leaning out of a w indow at Shifa locked eyes w ith journalists. One man gave a thumbs-up. Others started to yel l. Israeli soldiers shepherded the jour na lists away.

What remained on Gaza City’s ghostly streets were the ruins of collapsed buildings, spewing rubble onto streets. The facade of one abandoned building had been blown off, revealing furnished living rooms, glassware in cabinets somehow intact, mirrors still mounted on walls. Fortified bulldozers clawed through sand and gravel to clear the way for more tanks. About 20 Israeli soldiers sat on the side of a road. They smiled and posed for the journalists’ cameras. “There’s a great morale. Everyone’s ready to do what has to be done. Everyone’s ready to fight for the country,” said Staff Sgt. Oren, an Israeli soldier who said he is originally from Los Angeles. “Even when it’s hard, you sit with your friends and joke around a little bit. At the end of the day, you know why you’re here.” The city’s coastal promenade that once bustled with cafes and coffee shops was gone. Instead, there was rubble and a single lifeguard hut. Recent bombing sent black plumes rising into the sky. Gunbattles could be heard rattling in the distance. In the midst of the devastation, a line of Palestinian evacuees could be seen carrying their bags and other belongings. As the journalists in the Israeli army convoy passed by, they held their ID cards up to the armored personnel carriers. Some of them waved white flags.

North Korea scraps military deal with South Korea, upping tensions By Emily Yamamoto, Seyoon Kim & Jon Herskovitz

ORTH Korea said it is ending an agreement aimed at reducing military tensions with the South, a sign ties are fraying after Pyongyang placed a spy satellite into orbit for the first time. North Korea vowed that “our army will never be bound” by the 2018 agreement, the official Korean Central News Agency reported Thursday, adding that it “will immediately restore all military measures that have been halted.” It would “deploy more powerful armed forces and new military hardware” in the area along the border separating it from South Korea, it added. South Korea vowed to punish the North “immediately, strongly and to the end” based on its defense partnership with the US, if the North engages in further provocations, a spokesman for the Defense Ministry in Seoul said at a regular briefing. The heightened tensions come after North Korea appeared to successfully place a spy satellite into orbit, putting leader Kim Jong Un closer to his goal of deploying an array of reconnaissance probes allowing him to monitor US forces in the region. Kim oversaw the latest launch, and his state media said the country wants to fire off several more probes within a short period of time. Adding to the renewed strains, North Korea fired a ballistic missile toward waters to the east of the peninsula around 11:05 p.m. Wednesday, though the launch appears to have failed, South Korea’s Joint Chiefs of Staff said in a text message. Missile failures have been rare under Kim. The last one took place about a year ago when North Korea launched a suspected intercontinental ballistic missile from an area near Pyongyang. South Korea’s military said it reached an altitude of 1,920 kilometers (1,200 miles)

before failure. Following the launch of the spy satellite, South Korea suspended parts of a 2018 deal with North Korea intended to ease military tensions along the border. The cabinet in Seoul approved a plan to restore reconnaissance and surveillance activities that were halted under the agreement. South Korea’s Joint Chiefs of Staff has said that it assessed the satellite entered an orbit but it was unclear whether the device was operational. While officials in Seoul believe a North Korean spy satellite would be rudimentary at best, it could help Pyongyang refine its targeting as it rolls out new missiles designed to deliver nuclear strikes in South Korea and Japan, which host the bulk of America’s military personnel in the region. Kim has viewed photos of US military facilities in Guam that were taken by the “Malligyong-1” satellite, official media in Pyongyang said. Marco Langbroek, a lecturer in optical space situational awareness at Delft University of Technology, said that the technical requirement of the launch show that “the North Koreans are now ready for complex launch scenarios and have a versatile rocket system.” Group of Seven foreign ministers condemned North Korea for the ballistic missile launch that sent up the spy satellite, saying in a statement that it “poses a grave threat to the peace and stability of the region and beyond.” T he W h ite Hou se a l so condemned the launch and was working with allies to assess the situation, National Security Council spokesperson Adrienne Watson said. North Korea is barred by UN Security Council resolutions from conducting ballistic missile tests. The US and its partners have warned that technology derived from North Korea’s space program could be used to advance its ballistic missiles. With

assistance from Shinhye Kang/Bloomberg

TheWorld BusinessMirror

www.businessmirror.com.ph

Friday, November 24, 2023 A13

India in G-20 summit welcomes Israel-Hamas cease-fire, urges action on climate, other issues By Ashok Sharma

The Associated Press

EW DELHI—India’s Prime Minister Narendra Modi on Wednesday welcomed a ceasefire in Gaza that’s expected to enable the release of dozens of hostages taken by Hamas, and urged leaders of the top rich and developing nations to work together to ensure the Israel-Hamas war doesn’t expand. Hosting a virtual meeting of Group of 20 leaders, Modi said the hostages should be released and humanitarian assistance expedited. India has the G-20 presidency for 2023. “Terrorism is not acceptable and civilians’ death is condemnable,” he said. Israel and Hamas agreed to a fourday cease-fire in the war in Gaza—a breakthrough that will facilitate the release of dozens of hostages held by

militants as well as Palestinians imprisoned by Israel, and bring a large influx of aid to the besieged territory, officials said Wednesday. The truce raised hopes of eventually winding down the war, which was triggered by Hamas’ October 7 rampage into southern Israel. US Secretary of the Treasury Janet Yellen and China’s Premier Li Qiang represented their countries at the virtual summit.

INDIAN Prime Minister Narendra Modi speaks at a rally in Mumbai, India on January 19, 2023. India’s Prime Minister Narendra Modi on Wednesday, November 22, 2023, welcomed a ceasefire that’s expected to enable the release of dozens of hostages taken by Hamas and urged leaders of the top rich and developing nations to work together to ensure the Israel-Hamas war doesn’t expand in the region. AP/RAFIQ MAQBOOL President Joe Biden attended the September G-20 meeting in New Delhi that added the African Union as a member. Chinese President Xi Jinping skipped both the September G-20 summit and Wednesday’s virtual summit. Russia’s President Vladimir Putin and Canada’s Prime Minister Justin Trudeau attended the virtual summit. Putin in his speech pointed to

To arrest climate change, oil and gas sector must cut planet-warming operations: report

CAPUAVA oil refinery owned by Petrobras sits in Maui, on the outskirts of São Paulo, Brazil on November 6, 2023. The oil and gas sector, one of the major emitters of planet-warming gases, will need a rapid and substantial overhaul for the world to avoid even worse extremes fueled by human-caused climate change, a report on Thursday, November 23, said. AP/ANDRE PENNER By Sibi Arasu

The Associated Press

HE oil and gas sector, one of the major emitters of planet-warming gases, will need a rapid and substantial overhaul for the world to avoid even worse extreme weather events fueled by human-caused

climate change, according to a report released Thursday. The current investment of $800 billion a year in the oil and gas sector will need to be cut in half and greenhouse emissions, which result from the burning of fossil fuels like oil, will need to fall by 60% to give the world a fighting chance to meet its climate goals, the

International Energy Agency said. Greenhouse gases go up into the atmosphere and heat the planet, leading to several impacts, including extreme weather events. The IEA’s report comes just ahead of the United Nations climate conference, or COP28, which begins next week. Oil and gas companies, as well as other people and organizations connected to fossil fuels, often attend the meeting, drawing criticism from environmentalists and climate experts. But others say the sector needs to be at the table to discuss how to transition to cleaner energy. “The oil and gas industry is facing a moment of truth at COP28 in Dubai,” said Fatih Birol, executive director of the IEA in a press statement on the report’s release. “Oil and gas producers need to make profound decisions about their future place in the global energy sector.” Last year’s climate conference in Egypt saw 400 people connected with fossil fuel industries attending the event, according to an analysis by The Associated Press. The upcoming meeting has also come under fire for appointing the chief of the Abu Dhabi National Oil Company as the talks’ president. The energy sector is responsible for over two-thirds of all human activity-related

Dollar scarcity pushes more African countries to crisis Continued from A11

most among 92 global markets tracked by Bloomberg, while the shilling has declined 19 percent. In Zambia, Mozambique and Nigeria, the inability to access foreign financing has forced governments to ramp up domestic issuance in shallow markets, pushing up the cost of borrowing. African sovereigns have been locked out of international debt capital markets since April 2022. Nigeria’s longest-dated naira bond is trading at a record 18 percent yield. B u t h i g h e r d o m e s t i c y i e l d s a re n’t attracting foreign buyers, who worry about depreciating local currencies and difficulties in repatriating returns. In Zambia, for example, foreign holdings of domestic debt fell from 29 percent at the end of 2021 to around 22 percent currently, partly due to the restructuring process as well as liquidity issues. In some cases, the IMF is coming to the rescue. It said last week it will expand financing to Kenya by $938 million to bolster

its reserves, ahead of a $2 billion eurobond maturity in June. That sent yields on the 2024 notes tumbling almost 250 basis points in the four days through Friday—though they remain well above 14 percent. “The general perception is when a country trades above 10 percent in USD yields they are not able to issue in the USD market,” said Lars Krabbe, a portfolio manager at Coeli Frontier Markets AB. “This is of course not good for the general investment environment and debt sustainability in these countries and makes them highly dependent on concessional funding” such as IMF loans, he said. On the other hand, countries with less pressing foreign exchange needs are becoming more appealing. “Countries with less punishing dollardenominated loan amounts and bond repayments, and large stocks of foreign reserves, are most attractive,” said David Omojomolo, Africa economist at Capital Economics. “And more so those that have made large FX adjustments already.” Egypt is one. Citigroup Inc. strategists

were the latest to turn bullish on the North African nation’s dollar debt, as sales of state assets pick up and the government appears on track to meet targets set by the IMF. The central bank is close to securing as much as $5 billion in new deposits from Saudi Arabia and the United Arab Emirates, al-Borsa reported last month. Egypt’s eurobonds have handed investors returns of 8.7 percent in the second half of this year in dollar terms, compared to a loss for the average developing-nation peers in a Bloomberg sovereign credit index. For Kaan Nazli, portfolio manager at Neuberger Berman Asset Management, investors are likely to prioritize sovereign issuers that had better access to alternative sources of financing, such as Ivory Coast and Senegal. “Ivory Coast, for example, was able to rely on blended finance deals at reasonable cost over the last year,” he said. The West African nation also secured an IMF loan, while its currency, the CFA franc, is pegged to the euro, leaving it less exposed to fluctuations. Regional peer Senegal is

shifts on the global stage to argue that the world is going through a process of radical transformation with “new, powerful centers of global economic development emerging and strengthening.” “ Turbulence in the markets is increasing , chronic problems in t he inter nat iona l f inancia l sector, energ y and food secur it y are worsening,” he said.

greenhouse gas emissions, and oil and gas is responsible for about half of those, according to the IEA. Oil and gas companies are also responsible for over 60% of methane emissions—a gas that traps about 87 times more heat than carbon dioxide on a 20-year timescale. Oil and gas companies can find alternative revenue from the clean energy economy, including hydrogen and hydrogen-based fuels and carbon capture technologies, the report said. Both clean hydrogen—made from renewable electricity—and carbon capture—which takes carbon dioxide out of the atmosphere—are currently untested at scale. The report looked at climate promises made by countries as well as a scenario where the world had reached net zero emissions by 2050. It found that if countries deliver on all climate pledges, demand for oil and gas will be 45% lower than today’s level by 2050. If the world reaches net zero by then, demand would be down 75%, it said. Earlier this year, another IEA report found that the world’s oil, gas and coal demand will likely peak by the end of this decade. Vibhuti Garg, a New Delhi-based energy analyst with the Institute for Energy Economics and Financial Analysis, said that the need for oil and gas is “bound to decline.” “There are cheaper alternatives that are cleaner, so countries will start using those options and reduce their reliance on these expensive fuels,” she said. attracting investments to public-private partnerships in climate finance. Losses in both Senegal and Ivory Coast’s eurobonds have been less severe than Kenya’s and narrower than the average since July. Month-to-date, their performance has exceeded peers. Meanwhile, the dollar shortage is also hurting consumers and local businesses as import costs soar, fueling inflation. In Nigeria, prices of prescription drugs for conditions such as hypertension and diabetes have tripled in the past year. One of Zimbabwe’s biggest retailers, OK Zimbabwe, said sales volumes are now below break-even point due to rising costs and an exchange rate which has driven customers to the informal sector. And in Malawi, the price of corn, a food staple, has more than doubled over the past year. “The problem is there’s only so much you can do if you don’t have a vast trove of dollar reserves,” said Sonu Varghese, global macro strategist at Carson Group. “For investors, the risk that these countries remain on the verge of crisis hasn’t gone away.” With assistance from Naurine Ondiro, Anthony Osae-Brown, Matthew Hill, Ray Ndlovu and Godfrey Marawanyika/Bloomberg

Putin noted the criticism of Russia’s action in Ukraine but sought to deflect attention from it by pointing at civilian suffering in the IsraelHamas war. “Yes, of course, military actions are always a tragedy for specific people, specific families and the country as a whole,” he said. “And, of course, we must think about how to stop this tragedy.” “The war and the loss of life can’t but cause shock,” Putin continued. “But isn’t anyone shocked by the extermination of civilians in Palestine, in Gaza today? Isn’t anyone shocked about doctors forced to perform operations on children and use a scalpel on children’s bodies without anesthesia?” Modi urged the G-20 leaders to push for effective implementation of various decisions made at their September summit in New Delhi. Those include climate financing, reforms of multinational development banks and work on the creation of a framework for ethical and artificial intelligence as well as developing a common framework for digital public infrastructure. India’s Finance Minister Nirmala Sitharaman said the US administration has asked Congress to increase World Bank financing by more than

$25 billion and Germany has pledged $331 million in hybrid capital that can be used by the World Bank to increase lending over the next 10 years. Other issues critical to developing countries include alternative fuels like hydrogen, resource efficiency and food security. Modi announced the creation of a social impact fund with an initial contribution of $25 million to help developing countries meet sustainable development goals. He urged other countries to join the initiative. “A rtificial intelligence should reach the people and it must be safe for the society,” Modi said. He invited all G-20 member countries to attend a Global AI summit in New Delhi next month. India is promoting itself as a bridge to the developing world and a rising global player. Ahead of the G-20 virtual summit, Modi held a similar meeting with 130 leaders of mostly developing countries. India’s G-20 presidency ends on Nov. 30 and the baton is being passed to Brazil for 2024. The Associated Press writer Vladimir Isachenkov contributed to this report from Moscow.

Pope Francis meets relatives of Israeli hostages, Palestinians and sets off firestorm over words By Nicole Winfield The Associated Press

ATICAN CITY—Pope Francis met separately Wednesday with relatives of Israeli hostages in Gaza and Palestinians living through the war and set off a firestorm by using words that Vatican diplomats usually avoid: “terrorism” and, according to the Palestinians, “genocide.” Francis spoke about the suffering of both Israelis and Palestinians after his meetings, which were arranged before the Israeli-Hamas hostage deal and a temporary halt in fighting was announced. Francis didn’t refer to the deal, which marked the biggest diplomatic breakthrough since the war erupted following Hamas’ Oct. 7 attack on southern Israel. Francis met at the Vatican with 12 relatives of some of the 240 hostages held by Hamas in Gaza for about 20 minutes. Separately, he met for about the same amount of time with 10 Palestinians whose relatives have been killed or otherwise affected by the war in Gaza, along with priests who minister there. Francis spoke about the meetings at the end of his weekly general audience in St. Peter’s Square, where some people in the VIP seats wearing Palestinian scarves held up small posters showing bodies in a ditch and the word “Genocide” written underneath. “Here we’ve gone beyond war. This isn’t war anymore, this is terrorism,” Francis told the crowd. “Please, let us go ahead with peace. Pray for peace, pray a lot for peace.” He also asked for God to help both Israeli and Palestinian people “resolve problems and not go ahead with passions that are killing everyone in the end.” Francis has spoken out repeatedly calling for an end to the war and has tried to maintain the Vatican’s typical diplomatic neutrality in conflicts. The Vatican is particularly concerned about the plight of Christians in Gaza. The Hamas attack last month killed about 1,200 people in Israel. Israel’s retaliatory strikes on Gaza have killed more than 11,000 people, according to Palestinian health authorities. Members of the Palestinian delegation said they were stunned by Francis’ deep knowledge of the toll the war has taken on the people of Gaza and said he used the term “genocide” to describe it during their private meeting. No journalists were present during either meeting.

“He knew that Gaza has no water,” said Shireen Hilal, who lives in Bethlehem in the West Bank but was part of the delegation. “He knew that there was no electricity. He knew that there is no medicine.” The Vatican spokesman, Matteo Bruni, said he didn’t believe that Francis used that term. “He used the terms he used during the general audience and regardless represent the terrible situation that Gaza is living,” Bruni said. But t he Pa lestinians doubled down. “Ten people heard it,” said another member of the delegation, Suhair Anastas, who left Gaza in the last week with her daughter, among those allowed to leave because she also holds a Canadian passport. Francis often causes diplomatic kerfuffles with his off-hand comments. He has used the term “genocide” before in reference to the Ottoman-era Turkish attacks on Armenians and, more casually, agreed when asked if the Catholic abuses against Indigenous peoples in Canada amounted to a genocide The Israeli relatives, for their part, thanked Francis for receiving them but some expressed dismay that he didn’t have more time to hear from all members of the delegation. They also questioned his use of the term “terrorism” without saying who had committed it. They expressed hope that he might be able to use his moral authority to help free all the hostages. Evgeniia Kozlova, the Russian mother of 27-year-old Andrey Kozlov who was kidnapped by Hamas on Oct. 7 at the music festival in southern Israel, feared that the hostage-release deal would leave her son in Hamas’ hands for years. “We know the terms of the exchange of 50 hostages. These are women and children,” she said. Recalling that it took Israel five years to free the detained Israeli soldier Gilad Shalit. “If each of the remaining hostages is released once every five years, then my son will return in 1,000 years,” she said. Rachel Goldberg, whose son Hersh Goldberg-Polin was also kidnapped at the music festival, urged Francis and the rest of the world to work for all the hostages to be released. “And in the meantime, we would like the International Red Cross or any other humanitarian aid organization on planet Earth to go and see every single hostage and let us know: Are they alive? Have they been treated? Are they getting the care that they need?” she said.

A14 Friday, November 24, 2023 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Defending the country’s sovereignty and integrity

hree days after President Marcos said the situation in the South China Sea “has become more dire” as China continues its bullying inside the Philippine exclusive economic zone, the US and the Philippines started conducting joint air and maritime patrols in the South China Sea. Marcos announced the start of the joint patrols on X, formerly known as Twitter, describing them as “testament to our commitment to bolster the interoperability of our military forces.” The President wrote: “Through collaborative efforts, we aim to enhance regional security and foster a seamless partnership with the United States in safeguarding our shared interests.” Answering questions after he delivered a speech at the Daniel K. Inouye Asia-Pacific Center for Security Studies in Honolulu on Sunday, Marcos said China has showed interest in atolls and shoals that are “closer and closer” to the coast of the Philippines, with the nearest atoll about 60 nautical miles (111 kilometers) away. “Unfortunately, I cannot report that the situation is improving. The situation has become more dire than it was before,” the President said, as he reiterated his pledge that “the Philippines will not give a single square inch of our territory to any foreign power.” The US earlier said China has militarized several islands it built in the South China Sea, arming them with anti-ship and anti-aircraft missile systems, laser and jamming equipment, and fighter jets. Marcos said Admiral John Aquilino, the US military commander in the Indo-Pacific region, showed him a model of China’s military bases in the disputer waters. The President also announced that the Philippines is seeking to negotiate a code of conduct with Vietnam and Malaysia. “We have taken the initiative to approach those other countries around Asean with whom we have existing territorial conflicts, Vietnam being one of them, Malaysia being another and to make our own code of conduct,” he said, adding that he found the AseanChina negotiations as “slow.” Beijing, however, has nixed the idea of the Philippines having a separate code of conduct only among Southeast Asian claimants of the South China Sea. Mao Ning, spokesperson of China’s Ministry of Foreign Affairs, said there was already an agreement called Declaration on the Conduct of Parties in the South China Sea (DOC) for the Association of Southeast Asian Nations (Asean) and China to craft a set of rules of engagement in the disputed sea. (Read the BusinessMirror report, “China: Code of conduct only for SCS claimants won’t do,” November 22, 2023). The Declaration on the Conduct of Parties in the South China Sea, signed by China and Asean members in Phnom Penh in 2002, reaffirms freedom of navigation and overflight, peaceful settlement of disputes, and self-restraint in the conduct of activities. China, however, does not honor what it signed as it continues to chase, harass, block and even attack Philippine vessels going to the Ayungin Shoal, which is inside the country’s exclusive economic zone. Marcos met Friday with Chinese President Xi Jingping on the sidelines of the Asia-Pacific Economic Cooperation summit. He told reporters afterward that they agreed the challenges in the South China Sea “should not be the defining element” of their relationship. China’s diplomacy is often duplicitous. Just look at the tensions it is causing in the South China Sea. Days after a Chinese coast guard vessel blocked and collided with two Philippine ships near Ayungin Shoal, US President Joe Biden has warned China that the US will defend the Philippines in case of any attack in the disputed waters. The “ironclad” defense commitment to the Philippines of our treaty ally is reassuring. But it would do well for the Marcos administration to continue strengthening defense ties with other nations sharing the country’s ideals and values, such as Australia, Japan and South Korea. We need allies that can help us preserve and defend the country’s sovereignty and integrity in the West Philippine Sea.

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Sonny M. Angara

Better Days

eaching the age of 60 is a milestone that some of us are looking forward to but it’s also a reality dreaded by many. For people who worked for most of their lives, reaching the age of retirement means a life without stress or pressure and enjoying the fruits of their labor. Unfortunately, this situation does not apply to every individual, particularly for those who were not able to secure well-paying or to a lesser extent, decent jobs. The fact is that many Filipinos grow old without any savings to speak of, no pensions to enjoy and no family to take care of them during their most vulnerable period in life. Over the past two decades as a member of Congress, we pushed for legislation to promote the welfare of our seniors, provide them with the benefits, care and protection that they deserve as one of the most vulnerable sectors of society. This was one advocacy that I shared with my father, the late Senate President Edgardo Angara, who authored the original Senior Citizen’s Act (Republic Act 7432). The law, which came to be known as the Angara Law, was widely celebrated for institutionalizing the benefits granted to senior citizens, including the 20 percent discount on goods and services. Over a decade later, RA 9994 or the Expanded Senior Citizen’s Act was enacted—providing additional benefits and privileges to the elderly. One of the key features of the law, of which I was one of the authors, is the exemption from the value added tax on the sale of certain goods and

services enjoyed or availed by senior citizens. RA 9994 also institutionalized the grant of social pension for indigent senior citizens, amounting to P500 a month or P6,000 annually, and coverage in the national health insurance program of the Philippine Health Insurance Corporation. In July of 2022, RA 11916, another law that we authored, doubled the amount of social pension provided to indigent seniors to P12,000 a year. Under the proposed P5.768 trillion national budget for 2024, a total of P49.81 billion was allocated for the grant of social pension for indigent seniors. Administered by the Department of Social Welfare and Development (DSWD), the Social Pension for Indigent Seniors Program will benefit over four million elderly Filipinos who are not part of the pension system. The program is intended

Getting real on rates

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

Online Editor

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Giving what is due to our seniors

Dr. Ser Percival K. Peña-Reyes

EAGLE WATCH

T must be mentioned that the Philippine Development Plan (PDP) 2023-2028 aims to promote an inclusive, innovative, and healthy financial sector. So, the following outcomes will be pursued by the government: 1) financial inclusion broadened and deepened; 2) financial innovation strengthened and accelerated; and 3) financial sector health ensured. In fact, just last Monday, November 20, 2023, Congressional Research Fellows from the Ateneo de Manila University, namely Dr. Alvin P. Ang, Dr. Luis F. Dumlao, Mr. Genesis Kelly S. Lontoc, and Dr. Ser Percival K. Peña-Reyes, went to the House of Representatives to present their paper on strategies to achieve such desired triple outcomes in line with the PDP. Today’s column specifically focuses on a strategy to achieve the third outcome (financial sector health ensured) as it relates to consumer protection. The paper

presenter, Dr. Luis F. Dumlao, highlighted the need to disclose annual percentage rates or, ideally, effective annual interest rates, so that consumers have a standard basis

Over the past two decades as a member of Congress, we pushed for legislation to promote the welfare of our seniors, provide them with the benefits, care and protection that they deserve as one of the most vulnerable sectors of society. This was one advocacy that I shared with my father, the late Senate President Edgardo Angara, who authored the original Senior Citizen’s Act (Republic Act 7432). to assist elderly Filipinos who have no regular income or support from family and who are not receiving any pension. During the Senate’s plenary debates on the proposed 2024 budget of the DSWD, we were informed that there are around 466,000 indigent seniors who have yet to receive their social pension. What was alarming from the report of the DSWD was that the figure of waitlisted seniors was up from 228,000 previously. It was also revealed that the budgetary requirement for the settlement of the backlog in social pension grants could go as high as P5 billion. For indigent seniors, the monthly social pension would help a lot as an augmentation to their daily expenses and for their medical needs. We are inquiring into the causes of these delays and appealing to the DSWD to resolve this at the soonest possible time. We also continue to hear about cases involving some establishments that reportedly fail to pro-

So, the policy recommendations regarding this matter are straightforward. Government regulators are not advised to define and ban usury. Rather, there ought to be greater transparency, such that even if one enters into a subjectively defined usurious agreement, at least he or she has already been made aware of what he or she is really entering. Also, having a standard basis for comparing interest rates should promote healthy competition in the industry. for comparing interest rates. As it is right now, when finance companies speak to consumers about loans, they often do so in terms of monthly interest rates. Sometimes, interest rates are not even mentioned in advertisements. Real-life examples abound. One

vide seniors with their privileges as mandated under the law. A recent report involved a senior citizen who filed a complaint against a hotel for allegedly refusing to grant her the 20 percent discount and exemption from the VAT for her stay at the establishment. According to the report, the hotel claimed the senior guest was provided with a promotional rate already so she could no longer avail of any additional discounts. The guest asked the hotel for proof that the promotion was approved by the Department of Trade and Industry as required by the Consumer Act of the Philippines but the establishment failed to provide this. The guest has since decided to file a complaint against the establishment. These benefits and privileges are being provided to senior citizens and also to persons with disabilities to provide them with some financial relief in the availment of goods and services for their consumption. Their circumstances, more often than not, are significantly different from the rest of society and so we in Congress saw it fit to provide them with such benefits. We appeal to our partners in the private sector to honor all valid transactions of our seniors and for the concerned agencies in government to enforce the applicable laws. Senator Sonny Angara has been in public service for 19 years—9 years as Representative of the Lone District of Aurora, and 10 as Senator. He has authored, co-authored, and sponsored more than 330 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

example goes thus: “Avail of emergency funds in a flash! Get a loan amount of up to P125,000 fast and hassle-free. Pay as low as P4,972 for 36 months with this exclusive personal loan offer. No documents required.” With the help of Microsoft Excel, one can compute for the internal rate of return (IRR) of cash flows. One can type “Month” in cell A1 and then “Cash Flow” in cell B1. Cells A2 to A38 should contain the month numbers (0 to 36). Cell B2 should contain the total loan amount, which is 125,000 (for month 0). Cells B3 to B38 should each contain -4,972, which is the monthly installment payment for 36 months (for months 1 to 36). In some other cell—say, D1—one can type this formula: =IRR(B2:B38). It turns out that the IRR, or the effective monthly interest rate, is 2.0859 percent. It gets more interesting when one tries to compute See “Eagle Watch,” A15

Opinion BusinessMirror

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Friday, November 24, 2023 A15

The Long and Urgent Life of ‘Indie Sinema’ Tito Genova Valiente

annotations

N his introduction to the book, Ang Mahaba’t Kagyat na Buhay ng Indie Sinema (which I freely translated as The Long and Urgent Life of Indie Cinema), Aristotle J. Atienza asks us to treat the said phenomenon as a problematique. Within that label of being a cinema and at the same time bearing independence is the ideological aspect of what the book is attempting to define.

How does a cinema with the processes it undergoes and the machineries to which it is systematically subjected become independent, “indie”? The book, which Villanueva coedited with Rolando B. Tolentino, asks these and more. It posts an inquiry through the lens of a journey, a multi-brachiated compendium of many travels not by those who reviewed the indies but by the films— as they were screened, presented in competitions, shown hastily in some badly organized forums, viewed/ re-viewed over and over, re-edited or mangled for classroom presentations. Composed of essays written by filmmakers and academics, the collection does not discriminate from the thin albeit distinctly confessional, and therefore precious, to the thick description of cinema as cultural artifacts or political economy. Speaking about the organization of the content of this long life of indie cinema, the introduction recognizes how the complexity of the subject matter per se results in the division

Eagle Watch . . . continued from A14

for the effective annual interest rate. On a scientific calculator, one can type ((1+0.020859)^12)−1 and get 0.281115. In other words, the effective annual interest rate is 28.1115 percent. The accompanying table presents the amortization schedule. Another example goes thus: “Convert your credit limit to cash and pay in fixed monthly installments. Get as low as 0.99 percent monthly addon rate for 36 months. Have your application processed in as fast as five banking days. Avail up to 100 percent of your credit limit.” If the principal is still P125,000, then dividing it by 36 months yields P3,472.22 per month. The “low” monthly add-on interest rate of 0.99 percent should be multiplied to the principal to get P1,237.50. So, every Month 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36

Loan Balance 125,000.00 122,635.35 120,221.38 117,757.06 115,241.33 112,673.13 110,051.35 107,374.89 104,642.61 101,853.33 99,005.87 96,099.01 93,131.52 90,102.14 87,009.56 83,852.48 80,629.54 77,339.38 73,980.59 70,551.73 67,051.36 63,477.97 59,830.05 56,106.03 52,304.33 48,423.34 44,461.39 40,416.81 36,287.85 32,072.78 27,769.78 23,377.02 18,892.64 14,314.71 9,641.30 4,870.41 0.00

escaping or defying categories or classifications (“anumang dibisyon ay laging humuhulagpus upang mapabilang din sa ibang dibisyon…”). The anthology appears to ready itself to make the essays available for many purposes and functions. It says, for example, and as an act of recovery, let us include here the said thoughts in the original language the book’s editors opted it to be: “...ang kabuuang antolohiya ay tinangkang organisahin sa mga suliraning sinusubukan nitong sangkutin at maaaring pag-usapan lalo na sa konteksto ng pag-aaral na isinagawa hindi lamang sa pelikula kundi sa kaugnayan nito sa lipunan, kasaysayan, kultura at kapaligiran.” The entire anthology attempted to organize the issues it aimed to involve and possibly discuss especially in the context of the studies made not only about the film but its connection with society, history, culture and the environment. There is however another “anyo” or form to contend with in this anthology. Villanueva articulates this month for 36 months, one should be paying P3,472.22 + P1,237.50 = P4,709.72. Following the same procedure in Microsoft Excel, one should get an effective annual interest rate of 23.1503 percent. So, the policy recommendations regarding this matter are straightforward. Government regulators are not advised to define and ban usury. Rather, there ought to be greater transparency, such that even if one enters into a subjectively defined usurious agreement, at least he or she has already been made aware of what he or she is really entering. Also, having a standard basis for comparing interest rates should promote healthy competition in the industry. Indeed, it is time to get real on rates! Dr. Ser Percival K. Peña-Reyes is the Director of the Ateneo Center for Economic Research and Development.

Installment 0.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00 4,972.00

Interest Payment 0.00 2,607.35 2,558.03 2,507.68 2,456.27 2,403.80 2,350.23 2,295.54 2,239.71 2,182.72 2,124.54 2,065.15 2,004.51 1,942.61 1,879.42 1,814.92 1,749.06 1,681.84 1,613.21 1,543.15 1,471.63 1,398.61 1,324.08 1,247.98 1,170.31 1,091.01 1,010.05 927.41 843.05 756.92 669.00 579.24 487.62 394.08 298.59 201.11 101.59

Amortization 0.00 2,364.65 2,413.97 2,464.32 2,515.73 2,568.20 2,621.77 2,676.46 2,732.29 2,789.28 2,847.46 2,906.85 2,967.49 3,029.39 3,092.58 3,157.08 3,222.94 3,290.16 3,358.79 3,428.85 3,500.37 3,573.39 3,647.92 3,724.02 3,801.69 3,880.99 3,961.95 4,044.59 4,128.95 4,215.08 4,303.00 4,392.76 4,484.38 4,577.92 4,673.41 4,770.89 4,870.41

other half of the collection in the papers written by the filmmakers themselves again clarified to say that the filmmakers are not necessarily the wellspring of ideas of their own works; rather, we are afforded a look into the process of creating a different kind of film in particular, specific periods given their varied locations and positions within and outside the industry. Well, even that notion of “industry” ultimately becomes problematic in the ruminations that follow within the book. The fact is the grace of Tolentino and Villanueva in their decision to anthologize essays as disparate as they are divergent brings us to the fundamental inquiry about indie cinema—that in its many manifestations it escapes at the moment, a taming. No symmetry yet can be reached and, perhaps, that is good because, as Villanueva put it anyway, and we agree, no scholarship or research is ever complete and final about anything. And so from the opening essay of choy pangilinan (all in lowercase) who reminds us like an angry prophet how criticism is never separated from the politics and poverty of the land to Francis Gealogo’s depiction of crime and punishment in selected cinemas and the “jail time” in our colonial mind, we see a sampling of how the regular form of an essay can taunt us, entice us even as we are seduced to wait for more ideas in isolation. The ruminations abound in the anthology from the musings of Raymond Red to the color separation in Jay Altarejos’s “Ang Pink Cinema ni Jay Altarejos.” Reflections, memoirs, dispatches,

insights—these are the forms of the contributions from Baby Ruth Villarama (documentarian and wondrous storyteller); Ed Lejano (festival director and film scholar admitting being a “film junkie”); Adjani Arumpac (documentarian posting from her memories as a film student in UK); and, Brillante Mendoza telling

us “art is one of the main channels of culture.” The regions are well represented: Robby Tantingco celebrates alliteratively the three works from their land, namely Ari, Area, Aria. Arnel Mardoquio revisits his Mindanao in his career both as a filmmaker and a cultural worker.

Position Paper on Philippine-China disputes in the West Philippine Sea

Submitted to the Senate Committee on National Defense and Security, Peace, Unification and Reconciliation, Committees on Foreign Relations, Public Works and Finance and Special Committee on Philippine Maritime and Admiralty Zones that are conducting public hearings on the West Philippine Sea by the International Law and Relations Society of the Philippines (ISIP), an intellectual society composed of retired Chief Justice of the Supreme Court Reynato S. Puno, retired CG Admiral Joel S. Garcia, Dr. Melissa Loja, Prof. Romel Bagares and Atty. Al Soriano. Third part

Part II The significance of the distinction between a military force and a law enforcement force.

he distinction between military forces and law enforcement forces is not mere hairsplitting. It has profound legal significance. The significance vary according to the time (peacetime or wartime); place and space (territorial, maritime and air space); and type of activities. 2.1 Peacetime or wartime During peacetime, in the international legal system, both military forces and law enforcement forces, as well as their public or non-commercial vessels and aircraft enjoy sovereign immunity. Wherever they may be situated, these forces and their vessels and aircraft are an extension of the territory of their state and, as such, immune from arrest, search, inspection/boarding or other exercise of jurisdiction by a foreign state. Thus, any threat or use of force upon these forces, vessels and aircraft would amount to an act of aggression against the territory of the flag state. Self-defense against such acts of aggression would be a just cause for war. During an international or non-international armed conflict in which a flag state is either a belligerent state or a third state whose territory has been placed at the disposal of a belligerent state, its military forces and their vessels and aircraft are a legitimate military objective. In contrast, being civilian in nature and function, law enforcement forces are not a legitimate military objective, unless they have been incorporated into or tasked to perform the functions of a military force. 2.2 Disputed and undisputed territorial, maritime and air space Whether it is peacetime or wartime, within the undisputed internal waters, archipelagic waters, ter-

ritorial waters and the superjacent airspace of a coastal state, its law enforcement forces, vessels and aircraft may exercise all rights of territorial sovereignty, including prescriptive and enforcement jurisdiction over political, criminal, civil, tax and commercial activities, subject to the sovereign immunities of foreign states. Its military forces, vessels and aircraft have the right to defend the territorial sovereignty of the state from internal or external threats. If said territorial, maritime and air spaces are disputed, the occupying claimant state may exercise all rights of territorial sovereignty pending resolution of the dispute by peaceful means. An opposing but non-occupying claimant state may not use force to alter the territorial situation of such disputed areas; otherwise, it would be committing acts of aggression. Hence, the military forces, vessels or aircraft of said opposing non-occupying claimant state may not claim innocent or transit passage through or into said disputed land territory, territorial sea and territorial air space, for such presence could be considered an act or threat of aggression. Said opposing nonoccupying claimant state may resort only to peaceful or diplomatic means to resolve the dispute. The military and law enforcement vessels and aircraft of a non-belligerent foreign state may exercise the following freedom of navigation and overflight in the maritime and

air spaces of another state, such as an archipelagic state like the Philippines. To emphasize, a foreign state’s submarine, nuclear ship, military vessel (or warship) or law enforcement vessel (also called government ship operated for non-commercial purposes) may exercise transit and innocent passage through the territorial sea or straits used for international navigation of a coastal state. Such passage is subject to regulations under UNCLOS and the laws of the coastal state, provided that, with respect to domestic regulations, the same must not impair freedom of navigation. The coastal state may require a non-compliant military vessel to leave its territorial sea, whereas it may only hold the flag state of a law enforcement vessel liable for any damage that the latter may have caused. Transit passage by a foreign military or law enforcement vessel through the internal waters of a coastal state is available only when said waters was previously part of straits used for international navigation but were recently “enclose[ed] as internal waters” following adoption by the coastal state of straight

Christopher Gozum is strong with his agenda as he talks of the “Wikang Pangasinan sa Pelikulang Pangasinense. Gutierrez Mangansakan goes monumental with his memories as he posits the most vital questions to himself both as a filmmaker and a critic. From Bikol, Kristian Sendon Cordero, this time as a writer, obsesses with what obsesses artists from that region—religions and the icons that appear and disappear, and believers who know more than their high priests. Epilogues are usually quiet passages, as if the editors or writers are bidding goodbyes to audiences that have been remarkably polite or kind to them. Not the epilogue of Rolando Tolentino, which is filled with questions that could not be answered if one especially moves in circles with festival directors and middlemen and middlewomen (for there are those in the “cottage industry of indie cinema,” more or less, the words of Tolentino.) Films from the regions, alternative cinemas, indie cinemas—the book implies the definition is unfinished. It asks us to disabuse ourselves from the thought that these cinematic forms are now dominant. Let us, like the metaphor in Tolentino’s epilogue, be the frog in a well looking up to its piece of sky, contemplating how the indie has become a king in a small site and moment. Ang Mahaba’t Kagyat na Buhay ng Indie Cinema is a publication of QCinema International Film Festival and the University of the Philippines Press. E-mail: titovaliente@yahoo.com

baselines. Otherwise, their transit passage through internal waters is subject to prior and specific consent of the coastal state. In Arigo v. Swift, the Supreme Court noted that the presence of a US military vessel in Philippine internal waters was unauthorized given that the latter had deviated from its permitted route. Freedom of overflight by a foreign military or law enforcement aircraft is not available in the territorial sea or internal waters of a coastal state, except with the prior consent of the latter. Such freedom is available through archipelagic air routes or through straits previously used for international overflight but was recently “enclose[ed] as internal waters.” To reiterate, given the precondition for the exercise of transit, innocent and archipelagic passage and overflight, a state may deny such passage by the military and law enforcement vessels and aircraft of another state which has an adverse claim to the very territorial sea, archipelagic waters or internal waters in which such passage is sought. To be continued

Space Transit passage Innocent Archipelagic Overflight passage sea-lanes passage Internal Art. 35 (a) in Art. 35 (a) in Art. 35 (a) in None except waters and relation to Art. relation to Art. 8(2) relation to Art. under Art. 35 (a) airspace 8(2) 8(2) or with authorization Archipelagic None except under Art. 52 with waters Art. 35 (a reference to Art. outside 17-26 archipelagic sea-lanes and airspace

Art. 53 (12)

Archipelagic Art. 53 in relation Subsumed under Art. 53 in Art. 53 sea-lanes to Art. 39, 40, 42, transit passage relation to Art. and airspace 44 17-26 Territorial None except under Art. 17-26; None except sea and Art. 35 (a) suspension under Art. 35 (a) airspace or with authorization Straits Art. 37-44; no Art. 45; no used for suspension but suspension international Art. 40 (scientific navigation research) require and airspace prior authorization

Yes

A16 Friday, November 24, 2023

DA CHIEF’S 30-DAY ULTIMATUM ON RICE IMPORTS SUPPORTED By Jasper Emmanuel Y. Arcalas @jearcalas

HORTENING the deadline for the arrival of rice imports could deter price manipulation in the market, the Philippine Chamber of Agriculture and Food Inc. (PCAFI) said. PCAFI President Danilo V. Fausto said the 30-day ultimatum given by Agriculture Secretary Francisco Tiu Laurel Jr. to rice importers to bring in their approved import volume is a step in the right direction. “If you make it longer, the imports can be subject to price manipulation. Because 60 days is too long. The normal arrival of rice importers is only about 20 days. If they want to look for higher prices, then they will delay the delivery of the shipments,” Fausto told the BusinessMirror. Earlier this week, Laurel told rice traders and importers that they face a cancellation of all of their sanitary and phytosanitary import clearances (SPSICs) if their approved import volumes would not enter the country in the next 30 days. (Related story: https://businessmirror.com.ph/2023/11/21/daimporters-lose-spsic-if-ricenot-here-in-30-days/) Fausto said the Department of Agriculture (DA) may explore requiring rice importers to post a bond to ensure that the imports would arrive in the country. “If you are really determined

to import rice, then at the onset you should post a bond,” he said. Under the present rules and regulations, the agriculture depar tment mandates that rice imports from Asean states except Myanmar must arrive in the country within 60 days from the issuance of the SPSIC. Meanwhile, rice shipments from Myanmar and countries outside Asean must enter the Philippines within 90 days. Meanwhile, Monetary Board member V. Bruce J. Tolentino said it is important that imported commodities enter the country within a specified time of validity for their respective issued SPSICs. This, he pointed out, ensures that the imported food items are still safe for human consumption and do not pose any harm to human health. “The assumption behind the issuance of the SPSIC is that the shipment has been inspected and found to meet the required sanitar y and phytosanitar y standards and thus safe for human consumption. Rice is a perishable good, and if it is stored for too long or under unsanitary conditions it deteriorates and may cease to meet the SPS conditions,” he told the BusinessMirror. “So it is appropriate to set a deadline for the usage of an SPSIC. However, I do not know the scientific (SPS) basis for the onemonth deadline mentioned,” he added.

Peza 11-month investment approvals up 147% to ₧141B

By Andrea E. San Juan @andreasanjuan

HE Philippine Economic Zone Authority (Peza) said it has approved P140.88 billion worth of investments from January to November 2023, a figure that’s 147 percent higher than the P57.049 billion recorded in the 11-month period in 2022. “We have sustained this growth momentum from January to November 2023, investment approvals amounting to 140.9 billion pesos, a 147-percent increase from our approvals in the same period

last year. With two more board meetings to go, we will surpass our targets for the year with flying colors,” Peza Director General Tereso O. Panga said in his speech during Peza’s 28th Investors’ Night held in

Pasay City on Wednesday. The Peza chief told reporters on the sidelines of the Investors’ Night that the investment approvals recorded as of the Peza Board meeting last November 16 already account for 92 percent of the investment promotion agency’s (IPA) target for the year, or P154.77 billion. As the agency is set to have two more board meetings this year – one on November 30 and another one in December -- Panga said the agency is expecting to bring in over P50-billion additional investments within the agency. “And if we are lucky enough, this might bring us back to P200 billion to P250 billion level,” said the Peza chief, adding that this level of investment approvals was posted by the agency in 2012 and 2015, or what Panga described as

Peza’s “peak years” in terms of investment approvals. The agency had earlier set a lower-end target for investment approvals of around P160 billion and a maximum target of P300 billion for this year. From 1995 to 2022, Peza said it has 422 operating ecozones and counting. Of these, 300 are IT Parks and Centers; 78, Manufacturing; 24, Agro-Industrial Parks; 17, Tourism; and 3, Medical Tourism. Citing 1995-2022 data, Peza said its leading ecozone locator investments are from Japanese, Filipino, American, Dutch, British, Singaporean and Korean locators. Meanwhile, Electronics/semiconductors, IT services and metal products were the top contributor sectors in terms of ecozone locator investments within the 27-year period.

DFA dodges Remulla’s sniping on visa reforms By Malou Talosig-Bartolome @maloutalosig

HE Department of Foreign Affairs is apparently avoiding an all-out word war in a brewing interdepartmental feud with the Department of Justice on visa reforms. The DFA chose to stay silent on

Justice Secretary Crispin “Boying” Remulla’s statement on Monday that the Philippine embassy and consulates in China could not handle the vetting of the documents submitted by Chinese nationals applying for tourist visas. Remulla maintained that visa processing is just “a clerical matter” and suggested that the DFA be divested of its visa function. Instead, he suggested, the government should outsource visa processing to a third-party provider, such as VFS Global. DFA sources told the BusinessMirror that many were outraged at Remulla’s comment. “Insulting! No interdepartmental courtesy!” a high-ranking source said. “What if we say let’s have a private company take over airport immigration? How would they feel?” another said. DFA staff and local hire who were tasked to process visa applicants in China are experiencing “low morale,” sources said. “Many are overworked and had to eat their lunches at 3pm,” another source said. Still, the DFA’s official statement released Wednesday was dispassionate and intentionally silent on Remulla’s criticisms. DFA spokesperson Maria Teresita Daza said domestic and international laws mandate the DFA to issue visas to foreigners.

She cited the 1963 Vienna Convention Consular Relations, the 1987 Administrative Code and the Codified Visa Rules and Regulations of the Philippines 2002. “This (visa-issuing) function authorizes the DFA to conduct vetting procedures to ascertain the status of visa applicants as legitimate visitors and their travel purpose to the Philippines,” Daza explained. Visa officials and staff in the Philippine embassies and consulates abroad are required to conduct “thorough assessment of documentary requirements” of applicants and hold personal interviews of foreign nationals. Aside from these, the embassy or the consulate are required to obtain clearances from the National Intelligence Coordinating Agency (NICA) and the Bureau of Immigration (BI), to check if the applicant has criminal or other derogatory records. If the applicant comes from countries considered “restricted” for visas, the Post should also ask authorization from DFA-Office of Consular Affairs which is based in Manila. The DFA is also silent on Remulla’s statement that a number of Chinese nationals have managed to get visas through illegal means. Daza merely said that the Bureau of Immigration, under the administrative supervision of the DOJ, is

also part of the system that checks the validity of tourists’ documents and their background. While the Philippine Embassy and consulates abroad are the first layer of defense, the BI is the second layer of defense in gatekeeping the country’s airports and ports. The BI has a security database of aliens coming in and out of the country, under the Philippine Immigration Act, is also required to conduct interviews upon arrival, she said. T he t wo-tier system, Daza stressed, “ensures that only legitimate tourists, travelers and investors will be allowed inside the country.” During a number of interdepartmental meetings, sources told BusinessMirror, the Departments of Justice and of Tourism had been at loggerheads with the DFA and intelligence agencies over visa reforms. The tourism department said Chinese tourists were turned off by the slowness of approval of visa applications by the Embassy and consulates in China. To address this concern, the DFA partnered with the Department of Information and Communications Technology (DICT) and rolled out the e-Visa where Chinese tourists with verifiable documents can apply for single-entry tourist visas online without the need for personal appearance.

'TAYO ANG PASKO' Attorney Albert Muyot, the CEO of Save the Children Philippines (on the right), and Ria Atayde, Save the Children Philippines Ambassador, express their commitments by placing heartfelt notes into the pledge bowl during the launch of the “Tayo ang Pasko” campaign, an initiative to combat child hunger, at the Manila Clock Tower Museum, Manila City Hall, on Thursday, November 23, 2023. NONOY LACZA

Editor: Jennifer A. Ng

Companies BusinessMirror

Friday, November 24, 2023

Campi: Better credit access props up 10-mo. auto sales

By Andrea E. San Juan

@andreasanjuan

he local automotive industry has achieved 83 percent of its sales target for 2023 in October, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and the Truck Manufacturers Association (TMA). Campi and TMA attributed this to pent-up demand for consumer items, which was supported by “easier access to credit.” Their report indicated that vehicle sales in January to October reached 352,971 units. This is 25.9 percent higher than the 280,300 sold in the 10-month period last year. With this, Campi said the in-

dustry is “on track to full recovery” and is within striking distance of its prepandemic sales. Data from the joint report released by the two groups in January 2020 showed that the industry finished 2019 with 369,941 units. “We already achieved 83 percent of our 2023 forecast in October; with sustained demand, we are confident that we can achieve 423,000

units sales by yearend,” said Campi President Rommel R. Gutierrez. In September, Campi announced that it revised its sales forecast from 395,000 to 423,000 units for the year because of “positive” consumer outlook. Gutierrez attributed the sustained growth of vehicle sales to “aggressive marketing activities and supply improvement across all brands.” “Consumer appetite is high and sales are driven by continued pentup demand, which is also supported by easier access to credit.” T he auto sales report also showed that in October alone, vehicle sales reached 38,128 units, up 18.6 percent from the 32,146 units recorded last year. On a monthly basis, however, data from Campi-TMA showed that the 38,128 vehicle units sold last month is 1.3 percent lower than the 38,628 units sold in September. In terms of vehicle segments, light-duty trucks and buses led the

monthly sales growth in October, at 22 percent to 611 units. This was followed by passenger car which grew by 21.6 percent compared to October last year; light commercial vehicle, 19.3 percent; commercial vehicle, 17.6 percent; Asian utility vehicle, 14.3 percent; and heavy-duty trucks and buses, 8.3 percent. In contrast, sales of mediumduty trucks and buses declined by 29.4 percent to 279 units. Meanwhile, Toyota Motor Philippines Corp. led the auto market with a 45.96-percent market share as it sold 162,229 units in the 10-month period. Mitsubishi Motors Philippines Corp. ranked second as it accounted for 18.47 percent share of the automotive market, selling 65,192 units in January to October. Ford Motor Co. Phils. ranked third as its vehicle sales accounted for a 7.37-percent share of the market. It sold 26,003 units during the period.

Kinpo Batangas facility to go solar By Lenie Lectura @llectura

inpo Group in the Philippines has tapped TotalEnergies ENEOS to put up an 11.9 megawatt-peak (MWp) solar rooftop photovoltaic (PV) system for its facility in Batangas. Under the agreement, TotalEnergies ENEOS will fully fund, install and operate the PV system. Over 20,500 solar modules will be installed. The PV system will generate 16,700 megawatt-hours (MWh) of renewable electricity annually,

Novo invests $2.3B in France

supplying 17 percent of the energy needs of Kinpo’s Batangas facility and reducing its carbon emissions by approximately 8,000 tonnes of CO2 per year, equivalent to planting 120,000 trees. Kinpo Group, meanwhile, will pay only for the electricity generated for 20 years, avoiding any upfront costs. The solar power project is seen to contribute to the Kinpo group’s carbon neutrality strategy of constructing an in-house renewable energy supply. “Net zero is a difficult goal to achieve, but we must do it. The faster we can do this, the less harm there

is to the earth, and only then, can we avoid a climate catastrophe. To achieve its net zero target by 2050, Kinpo Group has implemented its internal carbon pricing in 2023 and it will be continuously adjusted in the future to accelerate its low-carbon transition. Cooperating with TotalEnergies ENEOS will help advance its longterm strategy and promote a more sustainable business,” said Kinpo Group CEO Andrew Chen. TotalEnergies ENEOS said it is committed to helping original design manufacturer/original equipment manufacturer and electronics man-

ufacturing services manufacturers like Kinpo Group in reducing their energy costs and carbon footprint through its “tailor-made renewable solutions.” “We are delighted to be trusted by Kinpo Group to provide their facility with renewable energy and advancing their carbon neutrality strategy and long-term development plan,” said Elodie Renaud, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia. “We look forward to fostering a lasting energy partnership with Kinpo Group and exploring further collaboration in the future.”

PSE commemorates RRHI listing anniversary

Mining unit of DMCI bags PMIEA award

Photo from www.dmciholdings.com

ambales Diversified Metals Corp. (ZDMC), a unit of DMCI Holdings Inc., has been given the Presidential Mineral Industry Environmental Award (PMIEA), in recognition of its commitment to environmental protection, safety measures, community development and social responsibility. “This recognition carries a lot of meaning for ZDMC. We received it at a time when our production has been ramping up,” DMCI Mining President Tulsi Das Reyes said. “Receiving this award demonstrates our ability to balance operational growth with environmental sustainability. It’s a clear indication that progress and ecological care can go hand in hand, setting a benchmark for the Philippine nickel industry.” Established in 1997 through Executive Order No. 399, the PMIEA is an annual award given by the President of the Philippines through the Department of Environment and Natural Resources Mines and Geosciences Bureau. It is accorded to mining and ex-

Philippine Stock Exchange Inc. President and CEO Ramon S. Monzon hands the listing anniversary plaque to RRHI President and CEO Robina Gokongwei-Pe. Contributed photo

ompany directors and officers of the Philippine Stock Exchange Inc. (PSE) and Robinsons Retail Holdings Inc. (RRHI) jointly celebrated the latter’s 10th anniversary as a publicly listed company through a bell ringing ceremony. RRHI raised P28.12 billion from the sale of primary and over-allotment shares during its initial public offering (IPO). Its shares were listed at the Exchange on November 11, 2013. PSE President and CEO Ramon

S. Monzon noted that RRHI held the record as biggest IPO in terms of primary share sale for close to eight years. Having allocated more than half of its IPO proceeds to network expansion, the capital-raising activity helped propel the growth in its store count, from 940 stores covering 545,000 square meters in 2013 to 2,368 stores with a gross floor area of 1.5 million square meters as of September 2023. “The retail sector and the econ-

omy in general may still be facing headwinds but I am optimistic that the wealth of expertise and experience accumulated in over four decades of operating in the retail space, combined with the leadership and vision of Messrs. Lance Gokongwei and James Go and Ms. Robina Gokongwei-Pe, Robinson’s Retail will continue to be a leader in its industry,” Monzon said in a statement. RRHI is currently a constituent of the PSE MidCap index and the PSE Dividend Yield index.

ploration firms with outstanding initiatives and implemented programs on environmental protection and enhancement of mining areas, development of the host and neighboring communities, land use improvement, exploration and mining site rehabilitation and final decommissioning. This award marks a first for ZDMC and represents a third win for the DMCI Mining group. Its subsidiary, Berong Nickel Corporation, was the recipient of the PMIEA in 2020 and 2021. From January to September, ZDMC nickel ore production surged by 83 percent to an all-time high of 1.31 million wet metric tons (WMT) from 716,000 WMT on increased mining capacity. ZDMC received the necessary environmental compliance certificate to boost its nickel ore production to 2 million metric tons (MMT) from 1 MMT starting January 2023. For the third quarter alone, ZDMC production rose by 28 percent to 190,000 WMT from 149,000 WMT. VG Cabuag

Deere falls as profit outlook disappoints on sales worries

ovo Nordisk A/S plans to invest €2.1 billion ($2.3 billion) to expand production in France as it works to meet surging demand for its sought-after weightloss medicines. The construction work to beef up the Danish company’s site in Chartres, southwest of Paris, has already started, Novo said in a statement. The investment will increase capacity for the diet drug Wegovy and its sister product for diabetes, called Ozempic. Novo is racing to build out factories and production lines as competition intensifies in a weight-loss market estimated to reach $100 billion by the end of the decade. For French President Emmanuel Macron, who will travel to Chartres Thursday, spurring a reversal of the country’s industrial decline has been a key economic goal. The factory makes pre-filled injector pens, which patients need to use Ozempic and Wegovy, as well as insulin. The investment will more than double the site’s footprint and create more than 500 new jobs, Novo said. Bloomberg News

eere & Co. shares slid the most in 18 months after the company forecast smallerthan-expected profit next year, with slowing equipment demand from farmers starting to weigh on the world’s largest tractor maker. Net income for the fiscal year will be between $7.75 billion and $8.25 billion, Deere said Wednesday after reporting fourth-quarter earnings that beat analysts’ expectations. Its full-year outlook came in well below estimates compiled by Bloomberg of $9.32 billion, prompting the stock to drop as much as 7.1 percent. Declining crop prices have hit machinery makers in recent months, with farmers less willing to buy new equipment for planting and harvesting. While demand for new tractors remains elevated, there are concerns that production of farm equipment could start outstripping demand. Rival farm machinery maker CNH Industrial NV recently said it was reducing salaried workers with equipment sales slumping. Seed maker Corteva Inc. has also warned of a slowdown in demand from farmers. Deere on Wednesday said net sales next year could drop 15

percent to 20 percent in its largest segment of production and precision agriculture. “Deere’s widely disappointing 2024 guidance suggests a weaker ag-equipment market than we previously contemplated,” Bloomberg Intelligence’s Christopher Ciolino said in a note. Machinery demand has softened especially in Brazil, where farmers harvested the country’s biggest soybean and corn crops ever. The large hauls meant farmers were getting lower prices for their crops even as equipment and seeds costs kept rising. The inventory imbalance is now causing farm suppliers to cut back. It’s a reversal from last year, when supply chain disruptions from Russia’s invasion of Ukraine resulted in record profits for the agricultural sector. In Brazil, Deere and the rest of the industry “ended up building more inventories than planned, even though we pulled back production in 2023,” Deere Chief Executive Officer Josh Jepsen said on a Wednesday call. “Therefore, we will underproduce demand next year.” Bloomberg News

Companies BusinessMirror

Friday, November 24, 2023

PSE STOCK QUOTATIONS

November 23, 2023

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 RCBC SECURITY BANK UNION BANK COL FINANCIAL FIRST ABACUS MANULIFE PHIL STOCK EXCH VANTAGE

53,700 118,681,763 17,849 61,513,705 907,215 747,744 44,837,111 7,557,812 206,594 4,600 21,643,354 905,133 310,690 680 53,890 1,884,080 790

-8,940 -7,786,672 11,351,688 -9,780 -26,733,370 -18,440 -12,842,830.50 64,611 -125,100.00 1,776,980 -

INDUSTRIAL ACEN CORP 4.95 4.96 5.03 5.08 4.95 4.96 12,125,000 60,358,600 ALSONS CONS 0.54 0.55 0.56 0.56 0.55 0.55 202,000 111,300 ALTERNERGY HLDG 0.77 0.78 0.79 0.8 0.77 0.78 4,170,000 3,261,620 ABOITIZ POWER 36.25 36.5 36.25 36.5 36.2 36.5 807,500 29,345,865 RASLAG 1.18 1.22 1.2 1.22 1.18 1.18 23,000 27,620 BASIC ENERGY 0.177 0.183 0.178 0.185 0.178 0.184 220,000 39,850 FIRST GEN 17.92 17.94 18 18.12 17.86 17.92 59,800 1,071,628 FIRST PHIL HLDG 62 62.2 62.7 62.7 62 62.2 5,090 316,296 MERALCO 371.6 372 373 373 371 372 47,490 17,669,326 MANILA WATER 17.44 17.52 17.2 17.6 17.16 17.44 597,500 10,405,656 PETRON 3.35 3.36 3.36 3.37 3.3 3.35 137,000 457,810 PETROENERGY 4.31 4.84 4.87 4.87 4.87 4.87 1,000 4,870 REPOWER ENERGY 6.51 6.55 6.56 6.75 6.51 6.7 1,500 9,880 SYNERGY GRID 6.04 6.1 6.04 6.04 5.98 6.04 195,300 1,173,399 SHELL PILIPINAS 12 12.02 12.3 12.3 12 12.02 281,000 3,377,982 SPC POWER 7.45 7.51 7.54 7.54 7.43 7.45 73,700 550,537 AGRINURTURE 1.06 1.07 1.2 1.2 0.96 1.06 8,083,000 8,373,350 AXELUM 1.94 1.96 1.88 1.96 1.88 1.96 185,000 356,650 CENTURY FOOD 30.5 30.8 30.8 30.9 30.25 30.8 405,700 12,499,445 DEL MONTE 7.21 7.49 7.69 7.69 7.12 7.21 18,500 134,488 DNL INDUS 6.03 6.06 6.08 6.13 6.02 6.03 629,600 3,806,521 EMPERADOR 20.9 20.95 20.8 20.9 20.7 20.9 175,100 3,651,855 SMC FOODANDBEV 48.95 49 50 50 48.5 48.95 150,140 7,350,717.50 FIGARO COFFEE 0.64 0.65 0.62 0.65 0.62 0.64 3,442,000 2,188,500 FRUITAS HLDG 1.06 1.1 1.1 1.13 1.06 1.06 16,563,000 17,956,760 GINEBRA 166.5 168.5 166.5 168.5 166.5 168.5 2,490 414,625 JOLLIBEE 238.8 240 238 241.8 238 238.8 940,490 225,223,032 KEEPERS HLDG 1.49 1.5 1.48 1.5 1.46 1.5 413,000 613,940 MAXS GROUP 3.61 3.62 3.7 3.7 3.62 3.62 178,000 649,790 MG HLDG 0.091 0.095 0.095 0.095 0.095 0.095 80,000 7,600 MONDE NISSIN 8.41 8.48 8.19 8.48 8.11 8.48 7,520,900 63,262,645 SHAKEYS PIZZA 9.3 9.36 9.32 9.36 9.32 9.36 200 1,868 ROXAS AND CO 0.485 0.52 0.52 0.53 0.52 0.52 288,000 150,820 RFM CORP 2.98 2.99 2.99 2.99 2.99 2.99 20,000 59,800 ROXAS HLDG 0.55 0.59 0.61 0.61 0.61 0.61 5,000 3,050 UNIV ROBINA 121 121.1 119.5 121 117.1 121 2,031,250 243,718,501 CONCRETE B 38.6 47.8 37.9 37.9 37.9 37.9 75,000 2,842,500 CEMEX HLDG 0.8 0.82 0.84 0.84 0.8 0.8 582,000 467,580 EC VULCAN CORP 0.82 0.83 0.81 0.83 0.81 0.82 1,559,000 1,278,200 EEI CORP 5.85 5.89 6 6 5.81 5.89 127,400 752,219 MEGAWIDE 3.05 3.1 3.12 3.12 3.1 3.1 26,000 80,680 PHINMA 20 20.4 20 20 20 20 1,000 20,000 CROWN ASIA 1.53 1.56 1.53 1.56 1.53 1.56 20,000 31,170 EUROMED 0.76 0.84 0.85 0.85 0.85 0.85 1,000 850 LMG CORP 2.47 2.7 2.8 2.8 2.8 2.8 4,000 11,200 PRYCE CORP 5.2 5.3 5.18 5.3 5.18 5.2 3,561,300 18,523,124 GREENERGY 0.265 0.27 0.28 0.28 0.27 0.27 12,090,000 3,285,550 IONICS 1.08 1.1 1.11 1.16 1.06 1.1 5,208,000 5,715,140 PANASONIC 4.6 4.87 4.58 4.87 4.58 4.87 3,000 14,030 SFA SEMICON 1.95 2.12 2.11 2.12 2.11 2.12 280,000 592,450 CIRTEK HLDG 1.68 1.7 1.72 1.72 1.68 1.7 225,000 382,530

-3,538,940 -647,500 -6,813,830 -757,402.00 -165,456 3,132,422 -1,797,316 -261,300 -675 -504,029 99,090 -111,450 -256,450 -1,068,555 -1,367,798 -1,108,575.00 -5,898,527.50 3,820 513,930 67,185,404 -225,700 13,391,694 -59,800 53,087,728 -265,270 11,840 7,800 2,800 -282,730 -222,600 -

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER

44.7 131.8 7.09 103.8 30.25 8.6 51.9 8.6 18.44 22.9 70.05 58.65 2.75 0.68 951 170 0.79

1.02 647.5 48.3 10.24 11.28 0.38 4.6 9.22 5.1 563 3.3 37.9 4.62 0.4 4.37 8.91 1.11 2.86 0.9 829.5 106.6 96

45.9 131.9 7.49 104 30.3 8.71 51.95 8.7 18.5 23 70.1 58.7 2.77 0.69 1,098 175 0.81

1.03 648 48.6 10.32 11.34 0.385 4.67 9.25 5.2 563.5 3.35 38.4 5.6 0.42 4.45 8.94 1.25 2.94 0.94 830 107.4 103.3

44.8 131.6 7.07 104 29.75 8.65 52 8.6 18.5 23 70.1 58.8 2.78 0.68 1,000 176 0.79

1.03 647 48.7 10.48 11.3 0.38 4.62 9.22 5.29 560 3.35 38.65 5.6 0.405 4.37 8.98 1.25 2.89 0.96 835 107.5 96

44.8 132.3 7.49 104.8 30.3 8.88 52 8.65 18.5 23 70.55 58.8 2.78 0.68 1,098 176 0.79

1.05 648 48.7 10.48 11.32 0.38 4.71 9.35 5.29 567.5 3.35 38.65 5.6 0.415 4.37 9 1.26 2.99 0.96 835.5 107.5 96

44.7 131.1 7.07 103.6 29.7 8.6 51.65 8.59 18.44 23 70.05 58.65 2.77 0.68 1,000 170 0.79

1.01 637.5 47.8 10.18 11.3 0.38 4.54 9.22 5.29 560 3.35 37.85 5 0.405 4.37 8.9 1.25 2.89 0.96 823.5 106.6 96

44.7 131.9 7.49 104 30.3 8.6 51.9 8.65 18.5 23 70.05 58.7 2.77 0.68 1,098 170 0.79

1.03 647.5 48.3 10.32 11.3 0.38 4.6 9.25 5.29 563.5 3.35 37.9 5 0.415 4.37 8.94 1.26 2.95 0.96 830 107.4 96

1,200 900,650 2,500 591,380 30,400 86,700 864,240 878,400 11,200 200 308,550 15,420 112,000 1,000 50 10,720 1,000

643,000 132,430 620,500 755,700 30,700 180,000 26,000 901,900 100 67,730 14,000 335,300 500 230,000 10,000 1,508,000 11,000 49,000 50,000 116,120 195,000 20

657,910 85,192,245 29,932,670 7,817,676 347,018 68,400 119,750 8,342,839 529 38,167,590 46,900 12,722,940 2,740 93,250 43,700 13,507,715 13,820 143,260 48,000 96,349,035 20,921,214 1,920

PROPERTY ARTHALAND CORP 0.425 0.445 0.45 0.45 0.425 0.445 40,000 17,700 AYALA LAND 29.6 29.7 29.65 29.85 29.55 29.6 3,258,700 96,664,555 AYALA LAND LOG 1.61 1.63 1.67 1.67 1.6 1.63 2,610,000 4,255,340 ALTUS PROP 8.96 9.34 8.96 8.96 8.96 8.96 1,500 13,440 ARANETA PROP 1 1.03 0.97 1.03 0.96 1.03 339,000 333,270 AREIT RT 29.2 29.25 29.4 29.55 28.9 29.25 5,377,800 157,345,355 A BROWN 0.63 0.67 0.68 0.68 0.64 0.64 94,000 60,320 CITYLAND DEVT 0.68 0.73 0.69 0.73 0.68 0.73 105,000 71,550 CEB LANDMASTERS 2.46 2.49 2.5 2.5 2.45 2.49 218,000 543,530 CENTURY PROP 0.3 0.305 0.3 0.305 0.3 0.305 1,370,000 411,850 CITICORE RT 2.52 2.53 2.53 2.53 2.51 2.52 2,130,000 5,362,280 DOUBLEDRAGON 8.03 8.1 8.3 8.34 8 8.1 272,800 2,209,029 DDMP RT 1.21 1.22 1.23 1.23 1.21 1.22 513,000 623,440 DM WENCESLAO 6.2 6.22 6.22 6.22 6.22 6.22 12,700 78,994 EMPIRE EAST 0.132 0.134 0.132 0.134 0.132 0.134 700,000 92,800 EVER GOTESCO 0.285 0.295 0.29 0.295 0.29 0.295 660,000 191,450 FILINVEST RT 2.81 2.85 2.85 2.85 2.8 2.81 252,000 713,450 FILINVEST LAND 0.54 0.55 0.55 0.55 0.54 0.55 1,216,000 665,960 GLOBAL ESTATE 0.74 0.76 0.75 0.75 0.74 0.74 6,000 4,480 8990 HLDG 8.3 8.52 8.55 8.55 8.54 8.54 5,200 44,458 GOLDEN MV 762.5 786 768 786 766.5 786 370 290,060 CITY AND LAND 0.76 0.78 0.76 0.76 0.76 0.76 11,000 8,360 MEGAWORLD 2.03 2.04 2.05 2.06 2.02 2.03 9,220,000 18,843,650 MRC ALLIED 1.43 1.45 1.48 1.49 1.41 1.45 169,000 242,680 MREIT RT 11.94 12 12 12 11.9 12 145,300 1,737,296 OMICO CORP 0.228 0.23 0.228 0.228 0.228 0.228 20,000 4,560 PREMIERE RT 1.51 1.55 1.52 1.52 1.51 1.51 89,000 134,410 PRIMEX CORP 2.41 2.53 2.45 2.5 2.44 2.44 42,000 103,270 RL COMM RT 4.61 4.66 4.64 4.66 4.57 4.61 512,000 2,368,450 ROBINSONS LAND 14.6 14.7 14.66 14.7 14.6 14.6 382,800 5,598,862 ROCKWELL 1.35 1.39 1.35 1.35 1.35 1.35 1,000 1,350 SHANG PROP 3.61 3.62 3.6 3.61 3.54 3.57 67,000 240,210 STA LUCIA LAND 3.24 3.27 3.27 3.27 3.27 3.27 39,000 127,530 SM PRIME HLDG 31.9 31.95 31.55 32.2 31.55 31.95 4,626,900 147,918,955 VISTAMALLS 2.32 2.45 2.32 2.32 2.32 2.32 6,000 13,920 VISTA LAND 1.63 1.66 1.64 1.67 1.63 1.63 163,000 268,930 VISTAREIT RT 1.68 1.69 1.69 1.69 1.68 1.68 428,000 720,160 SERVICES ABS CBN 3.55 3.59 3.5 3.59 3.5 3.55 105,000 369,660 GMA NETWORK 8.25 8.3 8.3 8.3 8.22 8.25 43,000 355,500 GLOBE TELECOM 1,752 1,755 1,759 1,760 1,744 1,755 9,600 16,853,600 PLDT 1,258 1,260 1,259 1,264 1,253 1,260 26,515 33,400,875 APOLLO GLOBAL 0.014 0.016 0.015 0.016 0.015 0.015 208,600,000 3,130,000 CONVERGE 8.21 8.24 8.33 8.38 8.2 8.21 5,582,000 45,977,487 DFNN INC 3.03 3.05 3.04 3.04 3.03 3.03 172,000 521,910 DITO CME HLDG 2.37 2.38 2.4 2.43 2.34 2.37 3,051,000 7,274,020 NOW CORP 1.18 1.22 1.24 1.26 1.18 1.18 1,414,000 1,695,030 TRANSPACIFIC BR 0.136 0.139 0.133 0.139 0.133 0.139 220,000 29,380 ASIAN TERMINALS 15.34 15.96 15.78 15.96 15.34 15.96 4,900 76,494 CHELSEA 1.27 1.29 1.29 1.29 1.29 1.29 4,000 5,160 CEBU AIR 32.3 32.8 32.85 32.85 32.3 32.3 475,300 15,392,780 INTL CONTAINER 215.2 215.4 218.2 218.4 215.4 215.4 701,250 151,836,816 MACROASIA 4.2 4.23 4.25 4.27 4.2 4.23 735,000 3,119,860 METROALLIANCE A 0.5 0.54 0.5 0.5 0.5 0.5 145,000 72,500 HARBOR STAR 0.85 0.86 0.88 0.9 0.83 0.86 312,000 272,970 ACESITE HOTEL 1.77 1.88 1.78 1.78 1.78 1.78 50,000 89,000 CENTRO ESCOLAR 8.79 8.8 8.79 8.79 8.79 8.79 3,500 30,765 STI HLDG 0.46 0.465 0.46 0.465 0.455 0.465 14,180,000 6,535,000 BELLE CORP 1.17 1.18 1.17 1.17 1.17 1.17 100,000 117,000 BLOOMBERRY 9.95 9.98 9.9 9.98 9.87 9.98 1,523,600 15,158,250 PACIFIC ONLINE 3.17 3.19 3.16 3.2 3.16 3.2 56,000 179,000 PH RESORTS GRP 0.94 0.96 0.98 0.98 0.93 0.96 1,639,000 1,573,000 PREMIUM LEISURE 0.59 0.6 0.6 0.6 0.59 0.59 411,000 243,360 DIGIPLUS 6.67 6.68 6.4 6.7 6.35 6.67 782,500 5,077,334 PHILWEB 1.74 1.8 1.8 1.82 1.73 1.8 43,000 75,690 ALLDAY 0.165 0.168 0.166 0.168 0.165 0.166 2,110,000 350,780 ALLHOME 1.19 1.23 1.26 1.27 1.15 1.19 9,679,000 11,601,490 METRO RETAIL 1.17 1.22 1.17 1.22 1.17 1.22 120,000 145,350 PUREGOLD 27.75 27.8 28 28.1 27.75 27.8 421,200 11,744,370 ROBINSONS RTL 39.9 39.95 39.5 40 39.45 39.9 214,800 8,551,640 PHIL SEVEN CORP 77.5 80 80.85 80.85 80 80 1,570 126,450 SSI GROUP 2.8 2.81 2.75 2.81 2.7 2.81 267,000 737,590 WILCON DEPOT 19.6 19.62 19.6 19.68 19.58 19.62 2,227,900 43,672,278 APC GROUP 0.221 0.232 0.23 0.235 0.22 0.234 1,650,000 367,250 EASYCALL 2 2.61 2.3 2.3 2.26 2.26 6,000 13,760 MEDILINES 0.335 0.34 0.34 0.34 0.335 0.335 310,000 104,150 PRMIERE HORIZON 0.176 0.18 0.183 0.183 0.18 0.18 330,000 59,910 SBS PHIL CORP 3.83 3.98 3.82 3.98 3.82 3.98 3,798,000 14,509,610 MINING & OIL ATOK 4.72 5.1 4.65 5 4.65 5 18,400 91,650 APEX MINING 2.75 2.76 2.77 2.78 2.74 2.75 1,544,000 4,257,560 ATLAS MINING 3.06 3.15 3.1 3.1 3.1 3.1 55,000 170,500 BENGUET A 4.71 4.8 4.71 4.89 4.71 4.8 10,000 47,730 BENGUET B 4.69 4.9 4.82 5 4.82 5 11,000 54,820 COAL ASIA HLDG 0.125 0.153 0.125 0.125 0.125 0.125 10,000 1,250 FERRONICKEL 2.36 2.37 2.38 2.38 2.35 2.37 692,000 1,639,170 GEOGRACE 0.031 0.033 0.031 0.032 0.031 0.031 2,800,000 86,900 LEPANTO A 0.078 0.081 0.078 0.082 0.078 0.081 2,630,000 211,620 LEPANTO B 0.072 0.08 0.07 0.07 0.07 0.07 40,000 2,800 MANILA MINING A 0.0047 0.0048 0.0047 0.0047 0.0047 0.0047 15,000,000 70,500 MANILA MINING B 0.0046 0.0047 0.0046 0.0046 0.0046 0.0046 1,000,000 4,600 MARCVENTURES 1.03 1.04 1.04 1.05 1.04 1.04 312,000 324,580 NIHAO 0.53 0.58 0.59 0.59 0.58 0.58 4,000 2,340 NICKEL ASIA 5.11 5.12 5.14 5.14 5.04 5.11 1,957,500 9,978,184 PX MINING 3.05 3.06 3 3.08 2.99 3.06 2,752,000 8,329,300 SEMIRARA MINING 28.85 28.9 28.95 29.05 28.8 28.9 712,900 20,609,690 UNITED PARAGON 0.0041 0.0046 0.0042 0.0042 0.0042 0.0042 13,000,000 54,600 ENEX ENERGY 4.9 5.05 5 5.07 5 5.06 6,100 30,567 ORNTL PETROL A 0.0081 0.0083 0.0082 0.0083 0.0081 0.0083 9,000,000 73,700 PHILODRILL 0.0082 0.0083 0.0082 0.0082 0.0082 0.0082 7,000,000 57,400 PXP ENERGY 4.01 4.02 3.92 4.03 3.86 4.02 145,000 570,110 PREFFERED ACEN PREF A 1,010 1,030 1,030 1,030 1,030 1,030 200 206,000 ACEN PREF B 1,055 1,061 1,057 1,060 1,055 1,060 5,720 6,058,680 AC PREF AR 2,460 2,478 2,460 2,460 2,460 2,460 180 442,800 DD PREF 91.5 92 92.6 93 92 92 9,540 878,035 JFC PREF A 941 960 949.5 950 949.5 950 270 256,490 JFC PREF B 901 915 901.5 901.5 901 901 1,770 1,594,820 MWIDE PREF 5 100 101 100.9 100.9 100 100 5,100 510,427 PCOR PREF 3A 980.5 995 995 995 995 995 10 9,950 PCOR PREF 3B 972 995 1,000 1,000 1,000 1,000 10 10,000 PCOR PREF 4A 980 1,005 980 1,005 980 1,005 25 24,625 SMC PREF 2F 71.7 72.95 72 72 72 72 200 14,400 SMC PREF 2J 67.65 68.15 68 68.15 68 68 26,100 1,774,965 TECH PREF B2D 48.6 49.05 49.05 49.05 49.05 49.05 200 9,810

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

3.27 7.53

3.58 8.75 -

0.36

0.37

SMALL, MEDIUM & EMERGING BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH MAKATI FINANCE MERRYMART XURPAS

0.42 0.74 1 0.65 1.52 1.73 1.03 0.204

0.45 0.76 1.02 0.66 1.79 2.89 1.04 0.219

EXHANGE TRADE FUNDS FIRST METRO ETF

98.3

98.5

0.33

0.36

0.33

0.36

20,000

4,033,725 9,793,080 -2,202,738 32,500 -360,098.00 1,470,585 -5,570,310.00 -3,401,139 -35,074,690 6,381,376 28,229,685 -48,120,955 250,000 15,000 413,280 -117,017 -52,110 -3,110 -2,950 228,580 -79,280 -55,020 -4,369,080 -266,476 -1,030,680 587,792 46,830 42,410,045 -107,930 -7,489,935 -13,175,995 7,448,589 6,080 992,790 -18,100 -7,940 -6,139,420 22,974,346 820,290 -7,911.00 4,719,400 5,047,280 3,044,932 -14,940 -2,993,110 -7,740,970 -270,065 6,372,518 -30,150 289,130 -42,400 -1,681,576 2,829,690 -170,385 29,400 -8,500 -

6,900

0.45 0.45 0.45 0.45 10,000 4,500 0.74 0.75 0.74 0.75 102,000 75,500 1 1.02 1 1.02 1,371,000 1,382,670 0.65 0.69 0.65 0.66 213,000 138,740 1.52 1.52 1.52 1.52 14,000 21,280 -21,280 1.73 1.73 1.72 1.72 11,000 18,970 1.05 1.05 1.04 1.04 1,499,000 1,563,060 -43,390 0.219 0.219 0.219 0.219 10,000 2,190 98.4 98.6 98.3 98.5 4,250 418,466 79,804

www.businessmirror.com.ph

Shares of GoTo soar after TikTok mulls investment

yteDance Ltd.’s TikTok is in talks to invest into a unit of Indonesia’s GoTo Group, one of several options the Chinese company is weighing to try and restart its online shop in its biggest e-commerce market. The companies are working on a potential investment into GoTo’s online-retail unit Tokopedia, which could be finalized in the coming weeks, people with knowledge of the matter said. Instead of a direct investment, the deal could take the form of a joint venture between the two firms, said one of the people, who asked not to be identified as the information is private. The discussions also involve the two companies jointly building a new e-commerce platform, the people said. That arrangement is designed to address regulatory hurdles and let TikTok revive its online-shopping service in Southeast Asia’s largest retail arena. GoTo rose as much as 8.3 percent in Jakarta. Top Indonesian digital lender PT Bank Jago, in which GoTo owns a stake, climbed as much as 24 percent—its biggest intraday gain in almost a year. Investors hoped a potential tie-up will boost and funnel payments and e-commerce transactions for Jago-operated platforms. Indonesia in September announced sweeping regulations that forced TikTok to split payments from shopping in the country—an unprecedented separation that put a dent in the social media giant’s e-commerce thrust just as it was gaining traction against Sea Ltd. and GoTo. TikTok, the only platform immediately affected by the rule, halted online

shopping in Indonesia shortly after to comply with the curbs. “Foe can be friend when interests are aligned,” JPMorgan analyst Henry Wibowo wrote in a note. “If the reported talks result in a deal that regulators find agreeable, this could enable TikTok to comply with recent regulatory changes and restart its e-commerce business in Indonesia, which could potentially reshape the online shopping landscape.” Deliberations for a deal are ongoing and talks could still fall apart, the people said. A pact would also be subject to regulatory approval, they said. A direct investment into Tokopedia, Indonesia’s largest local e-commerce player, might help to further smoothen TikTok’s relations with the government, one of the people said. TikTok didn’t respond to a request for comment, while a GoTo representative declined to comment. Owned by Beijing-based, closely held ByteDance, TikTok has been trying to chart a new path for its fastest-growing feature, TikTok Shop, in a country of 278 million that was supposed to be a template for a global expansion from the United States to Europe. For GoTo, Indonesia’s largest internet company, a deal with TikTok could be risky as it would

European stocks struggle as PMIs show contraction

tocks in Europe struggled for traction on Thursday as activity surveys showed a recession in the euro area is looking increasingly likely. S&P Global’s purchasing managers’ index (PMI) was in contraction again in November, hitting 47.1, data showed. While that’s a bigger uptick than anticipated by economists, it marks the sixth consecutive month below the 50 level that indicates expansion. The PMI reading unexpectedly fell in France, while rising more than analysts’ estimates in Germany. Dutch firms were among the biggest decliners in the Stoxx Europe 600 index after far-right lawmaker Geert Wilders won a shock victory in the country’s elections. Lender ING Groep NV fell as much as 3 percent in Amsterdam, while ABN Amro Bank NV was down 1.2 percent and chipmaker ASML Holding NV shed 0.7 percent. Swedish stocks jumped and the krona weakened after the country’s central bank in a surprise move decided to leave its main benchmark rate unchanged at 4 percent. Analysts had expected an increase to 4.25 percent. The euro and yen edged higher as the dollar surrendered Wednesday’s gains. US equity futures were little changed. There is no Treasury cash trading on Thursday due to the Thanksgiving holiday, while Japanese markets are also closed.

Meanwhile, crude oil extended a decline as discord within OPEC+ forced the group to delay an upcoming meeting, quelling speculation of further production cuts by the Saudiled alliance. Industrial metals fell as iron ore tumbled from from a ninemonth high after Chinese authorities stepped up a campaign to try and cool the rally in the steelmaking ingredient. In Asia, Country Garden Holdings Co.’s shares and bonds surged in Hong Kong following news that Beijing included the builder in a draft list of 50 developers eligible for financial support, the latest move to plug an estimated $446 billion gap in funding needed to ease the housing crisis. A gauge of property stocks rallied 7 percent, set for its best week since early September. Brent crude sank below $81 a barrel after a volatile session on Wednesday that saw prices swing by more than $4, while West Texas Intermediate was near $76. “On the macro economic data, I don’t see enough positive signals to give me the confidence of a booming market next year,” Carol Nakhle, Chief Executive Officer of Crystol Energy, said on Bloomberg Television. “Even with oil demand forecast, we see today a big difference between what the International Energy Agency is expecting for 2024 and what OPEC is expecting.” Bloomberg News

help a major online-retail rival to keep operating in the country. But it would also give GoTo a strong global social-media partner in an arrangement that could boost shopping and payments volumes for both companies. “This should be positive for GoTo as it can have live-commerce to challenge Shopee while TikTok could be seen by the regulator to be somewhat helping the local champion maintain its dominance in the local market,” Citigroup analysts led by Ferry Wong wrote in a note. Chief Executive Officer Patrick Walujo, who took over in June, is trying to bring GoTo to profitability on an adjusted basis by the end of the year to show the ride-hailing and e-commerce company has long-term earnings potential. The managing partner of shareholder Northstar Group is continuing his predecessors’ campaign to reduce losses by slashing jobs, cutting promotions and tightening expense controls. TikTok has been attempting to engage government officials and other social media companies to figure out a way to restart its ecommerce operations in the country. Last week, Indonesian minister Teten Masduki said TikTok has spo-

MUTUAL FUNDS

ken with five companies including Tokopedia, PT Bukalapak.com and Blibli for possible partnerships. Indonesia is the first and largest market for TikTok Shop, and online shopping has become the social media app’s fastest-growing feature with a burgeoning fan base in the country. TikTok started the shopping feature in Indonesia in 2021 and its instant success has encouraged it to expand into online retailing in other markets, including the US. Indonesia is among the first countries in Southeast Asia to push back against TikTok. Navigating the conflict will be pivotal for the company as governments across t he world assess how Southeast Asia’s largest nation moves to curb the social media giant’s burgeoning e-commerce presence, just months after the firm said it will invest billions of dollars into the region. Following the Indonesia restrictions, nearby Malaysia said it is studying the possibility of regulating TikTok and its e-commerce operations. The social media giant is already facing possible bans and scrutiny in the likes of the US, Europe and India on national security concerns. Bloomberg News

November 23, 2023

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 204.02 -0.24% -3.85% -3.63% -1.07% -2.16% ATRAM Alpha Opportunity Fund, Inc. -a 1.3983 4.77% 3.03% 0.74% 1.38% 4.02% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8214 -0.57% -3.88% -5.78% -2.81% -3.21% Climbs Share Capital Equity Investment Fund Corp. -a 0.6665 -1.43% -5.79% -5.32% n.a -4.69% First Metro Consumer Fund, Inc. -a 0.6243 -5.94% -5.65% -5.07% n.a -3.75% First Metro Save and Learn Equity Fund, Inc. -a 4.482 -1.52% -3.46% -2.6% -0.75% -3.61% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6689 -2.78% -4.69% n.a n.a -4.59% MBG Equity Investment Fund, Inc. -a 84.32 11.23% -3.45% -5.29% n.a 11.96% PAMI Equity Index Fund, Inc. -a 41.5293 -1.82% -4.11% -2.86% n.a -3.85% Philam Strategic Growth Fund, Inc. -a 433.03 -0.57% -4.28% -2.88% -1.04% -2.55% Philequity Dividend Yield Fund, Inc. -a 1.1551 -1.25% -0.3% -1.24% n.a -1.7% Philequity Fund, Inc. -a 32.7071 0.14% -1.93% -1.8% 0.94% -1.77% Philequity MSCI Philippine Index Fund, Inc. -a 0.8342 0.42% -3.41% n.a n.a -1.72% Philequity PSE Index Fund, Inc. -a 4.3653 -0.82% -3.22% -2.01% 0.69% -2.9% Philippine Stock Index Fund Corp. -a 726.4 -0.9% -3.38% -2.08% 0.64% -3.01% Soldivo Strategic Growth Fund, Inc. -a 0.6572 0.26% -3.46% -4.73% n.a -2.51% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2451 -1.45% -3.8% -4.05% -1.11% -3.8% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8238 -1.26% -3.7% -2.39% n.a -3.3% United Fund, Inc. -a 3.0274 -0.83% -3.14% -2.38% -0.05% -2.15% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0222 -1.27% n.a n.a n.a -3.22% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,20.9938 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a 0.9856 -2.63% -2.42% n.a n.a -5.81% Philippine Stock Index Fund Corp. -a 881.57 -1.06% n.a n.a n.a -3.07% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c98.5963 -0.34% -3.06% -1.77% n.a -2.49% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.8168 -1.46% -10.84% -2.87% -1.8% -4.13% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5851 9.76% -0.19% 6.27% n.a 11.31% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.4568 -1.27% -4.07% -2.26% -1.92% -1.88% ATRAM Philippine Balanced Fund, Inc. -a 2.1351 5.47% -1.99% -0.36% 0.03% 1.42% First Metro Save and Learn Balanced Fund, Inc. -a 2.441 -1.07% -2.55% -0.27% -1.11% -2.57% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1858 -2.42% -2.41% n.a n.a -3.98% NCM Mutual Fund of the Phils., Inc. -a 1.8925 1.12% -1.3% 0.8% 1.01% 0.29% PAMI Horizon Fund, Inc. -a 3.4636 1.98% -3.06% -0.01% 0.12% 0.69% Philam Fund, Inc. -a 15.1815 0.7% -3.71% -0.58% -0.19% 0.27% Solidaritas Fund, Inc. -a 1.989 1.15% -1.82% -0.43% 0.82% 0.12% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3202 1.3% -2.51% -1.64% -0.53% -0.28% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8743 1.89% -0.61% -0.98% n.a -0.52% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9229 2.88% -3.4% n.a n.a 0.84% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8178 0.55% -5.03% n.a n.a -2.13% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7966 -0.5% -5.34% n.a n.a -3.15% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03195 0.6% -6.56% -1.68% -0.18% -1.39% PAMI Asia Balanced Fund, Inc. -b $0.8887 3.66% -7.19% -0.99% -1.33% 5.8% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.089 5.71% -1.85% 3.56% 2.67% 6.32% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $0.9925 2.36% -4.44% 0.4% n.a 2.15% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 388.65 3.3% 1.68% 2.57% 2.12% 2.81% ATRAM Corporate Bond Fund, Inc. -a 1.9005 1.69% 0.06% 0.61% -0.1% 1.37% Cocolife Fixed Income Fund, Inc. -a 3.2971 2.56% 0.91% 2.21% 3.72% 2.75% Ekklesia Mutual Fund, Inc. -a 2.2532 4.68% -0.56% 1.18% 1.13% 3.1% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4305 1.89% -0.28% 1.97% 1.05% 1.65% Philam Bond Fund, Inc. -a 4.2182 1.88% -3% 1.67% 0.41% 1.89% Philam Managed Income Fund, Inc. -a 1.3628 3.36% 1.18% 2.97% 1.69% 3.28% Philequity Peso Bond Fund, Inc. -a 3.9843 4.15% 0.09% 2.74% 1.28% 2.99% Soldivo Bond Fund, Inc. -a 1.0436 3.05% 0.21% 3.3% n.a 2.66% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2685 4.68% 0.77% 3.47% 1.79% 3.9% Sun Life Prosperity GS Fund, Inc. -a 1.7468 3.87% 0.01% 2.7% 1.19% 3.01% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $491.01 2.72% 0.62% 1.91% 2.46% 2.27% ALFM Euro Bond Fund, Inc. -a Є212.01 1.59% -0.99% -0.03% 0.73% 1.12% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0196 0.46% -6.9% -1.9% -0.06% 1.01% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0242 2.11% -2.98% -0.49% n.a 2.11% PAMI Global Bond Fund, Inc. -b $0.8377 -1.9% -8.43% -3.93% -3.31% -6.92% Philam Dollar Bond Fund, Inc. -a $2.1985 3.23% -4.49% 0.58% 1.49% 0.85% Philequity Dollar Income Fund, Inc. -a $0.060774 2.02% -0.7% 1.33% 1.57% 1.8% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.6598 -0.55% -6.17% -1.5% 0.08% -2.27% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.37 2.46% 1.74% 2.54% 2.01% 2.34% First Metro Save and Learn Money Market Fund, Inc. -a 1.1044 3.15% 1.8% n.a n.a 2.87% Sun Life Prosperity Peso Starter Fund, Inc. -a 1.3712 2.7% 1.95% 2.46% 1.98% 2.45% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.09 3.98% n.a n.a n.a 3.6% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0927 2.3% 1.29% 1.5% n.a 2.2% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 41.7159 -6.23% n.a n.a n.a -2.26% Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3924 9.07% 9.03% n.a n.a 13.01% Sun Life Prosperity World Income Fund, Inc. -a,1 0.9649 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7756 -2.87% -7.18% n.a n.a -1.82% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Launch date is August 22, 2023. 2 - Launch date is October 6, 2023. “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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Banking&Finance BusinessMirror

Associations and Social Capital

URING conversations on key association resources, I often hear the term “social capital,” so I did some research on how it relates to associations. Social capital is a sociological and economic concept that refers to the value, benefits and resources that individuals and groups accrue through their social networks, relationships and connections. These social connections can be valuable assets that can be leveraged for various purposes, including personal and professional advancement and community development. Associations, whether professional organizations, industry groups, community collectives, or cultural societies, are exceptional incubators for social capital. Here’s how associations contribute to its creation and utilization. 1. Common purpose and values. Associations draw together individuals who share common values, interests, or goals. 2. Information and knowledge-sharing. Associations often serve as hubs for the exchange of information, expertise and best practices. 3. Collaboration and collective action. Strong relationships within associations foster collaboration and collective action. 4. Advocacy and influence. Associations are well-positioned to harness the power of social capital for advocacy and influence. 5. Resource mobilization. Through social capital, associations can tap into a vast resource pool. To make the most of the social capital within associations, it’s essential to implement strategies that nurture relationships and connections, such as: 1. Encourage active engagement. Foster a culture of active participation and engagement among members, as well as provide opportunities for networking, collaboration and knowledge sharing. 2. Diversity and inclusion. Promote

Association World Octavio Peralta inclusivity to ensure that relationships and social capital are diverse, welcoming members from various backgrounds and perspectives. 3. Recognition and appreciation. Acknowledge and celebrate the achievements and contributions of members. 4. Facilitate knowledge sharing. Create platforms for members to share their expertise and experiences, as well as to encourage the exchange of knowledge and resources. 5. Support professional development. Provide resources and opportunities for members to enhance their skills and knowledge, further strengthening the social capital within the association. Associations and social capital are inextricably linked, as both serve as the fertile ground for the cultivation of meaningful relationships, trust and cooperation. The social capital generated within associations is a powerful asset that enriches communities, drives collective success and empowers individuals and organizations to achieve their shared goals. By recognizing and nurturing the connections within these associations, resources are unlocked to build stronger communities, advocate for change and collectively thrive in a world interconnected by social capital.

Octavio Peralta is currently the executive director of the Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives (PCAAE), the “association of associations.” PCAAE will hold its 11th Associations Summit at the PICC on December 20, 2023. E-mail: bobby@pcaae.org.

Editor: Dennis D. Estopace • Friday, November 24, 2023

LGUs offered climate financing

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Finance (DOF) urged local government units (LGUs) to tap available state financing for their climate-related projects and programs that contribute to government’s goal of establishing “livable” and “sustainable” communities.

The DOF also offers assistance so LGUs can access available climate financing. “The DOF stands ready to assist LGUs in the realization of their climate projects, thus advancing the Philippines’ climate agenda as envisioned in the President’s 8-point socioeconomic agenda of establishing livable and sustainable communities,” Finance Secretary Benjamin E. Diokno said last Thursday. Diokno pointed LGUs to the “People’s Survival Fund” (PSF) for their climate-related projects. He added the DOF has streamlined the approval process so that more LGUs can avail of the grant. The PSF was established under Republic Act (RA) 10174 in 2012 to finance adaptation programs and projects of LGUs and accredited lo-

cal and community organizations, according to the DOF. “In the past, two primary issues hindered the swift processing of project approval by the PSF Board: the lack of capacity to prepare bankable projects and the tedious procedures,” the DOF said. “Upon taking up the role of PSF Secretariat in 2017, the DOF initiated measures to expedite fund utilization and streamline the project proposal process,” added the finance department. Furthermore, the DOF said it has delegated to the Climate Change Commission (CCC) the capacity-building mandate with the CCC now collaborating directly with LGUs through one-on-one consultations. The collaboration allows the LGUs to be guided on the drafting

process and compliance of the necessary paperwork for PSF grants. “With the implementation of the Mandanas-Garcia ruling, the DOF, through the Bureau of Local Government Finance (BLGF), is also prepared to capacitate LGUs in efficiently utilizing the increased revenue stream to fund climate-related projects and pro-

grams,” the DOF said. The DOF, sitting as the chair of the PSF, said it has approved 11 climate adaptation projects and 6 projects for project development grant with a combined amount of P889.6 million. The amount hiked the PSF’s utilization rate to 89 percent of the total P1 billion budget, according to the DOF.

Relationships

Friday, November 24, 2023 • Editor: Gerard S. Ramos

BusinessMirror

Painless online shopping PHOTO BY CARDMAPR. NL ON UNSPLASH

TODAY’S HOROSCOPE By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Sarah Hyland, 33; Katherine Heigl, 45; Colin Hanks, 46; Pete Best, 82. HAPPY BIRTHDAY: Push forward, compensate for lost time and refuse to let anyone slow you down. Take the initiative to do things your way this year. An aggressive, hands-on attitude will help you reach your target. Strive to make professional and personal improvements. Pick up more skills, tune in to what’s trending and control the dialogue to ensure you receive and pass along information based on facts. Express your feelings. Your numbers are 4, 12, 18, 25, 31, 38, 47.

RIEND and columnist Boo Chanco of the Philippine Star was slightly incredulous after reading my space last week, wherein I had recommended that people tap reputable online retailers to buy Christmas gifts for their loved ones, just to save them time and their sanity. On Facebook, where I had shared my column, Boo thus commented: “There are reputable online sellers? My first few experiences were absolutely not good.” (See “Gifting tips,” BUSINESSMIRROR, November 17, 2023.) I had to reassure him that yes, there were a number of online stores and retailers which were trustworthy. There are clothing vendors, for instance, which will publish details of the colors of their shirts, fabrics used, the colors available, the sizes (with a chart in US, EU, UK equivalents), and estimated date of delivery. There are efficient food retailers who will not only share the general ingredients they used in a dish, but a few will even give the dish’s fat and calorie content. Some online apps even have personal shoppers who will call and update the buyer in case the item she wants is no longer available or carries a different price and weight. This is always helpful because it adjusts the expectations of the buyer on what will eventually be delivered to her. To be honest, in the last five years that I’ve gone online to purchase stuff, I’ve only had two unfortunate experiences wherein the items I purchased were defective. In a separate case, I had an issue with the refund procedure of a popular online clothing shopping app that I eventually had to reach out to their public relations consultant to make him aware of my frustration. So, assuming I’d bought say 1,000 products online within that time frame, these poor instances don’t even rate one percent of my total online shopping experience. No doubt it can be a mixed bag sometimes. But given my experience so far, I believe there are more online sellers who are transparent and detailed about the products they sell, than the shady kind who are not so forthcoming about the shape their products are in, and will likely just take your money and run. I think this was one of the upsides of our two-year pandemic experience: it taught us to be more discriminating and careful about purchasing items online.

ARIES (March 21-April 19): Invest in yourself and the things you enjoy doing most. Refuse to let anyone railroad you into heading in a direction that benefits them more than you. Learn from the experience and recognize that doing your own thing is OK. Share your feelings. ★★★

TAURUS (April 20-May 20): A change you encounter will lead to an unexpected opportunity. Go the distance, and you’ll discover something that you enjoy doing. Don’t settle for secondhand information. ★★★

GEMINI (May 21-June 20): Pay more attention to how you present yourself to others. A relationship will require tender loving care if you don’t want a misunderstanding to occur. Be open and honest, and clarify your position regarding your feelings and desires. ★★★

Online shopping doesn’t have to be a painful process. There are available tools (and your wits) at your disposal to help you assess a product and a retailer before making your final purchases. On shopping platforms like Lazada, for instance, I usually stick to purchases of a brand’s official online store. It ensures the item I am purchasing is authentic, and I have a far greater chance of returning or exchanging it (in the case of a wrong size or wrong color delivered) versus some unknown online seller offering the same product on that shopping platform. I also like striking up a conversation with a seller to check their attitude toward customers. Are they easy to talk to? Are they responsive to your queries? Inquire about the possibility of returning or being refunded of your payment, in case their product is defective or the wrong item is delivered. As much as possible, I choose online retailers which are based in Metro Manila instead of those abroad. But sometimes, the items I need are not available locally, or even if they are, are probably more expensive than they ought to be. So a few times, I have resorted to purchasing items from retailers abroad, a number of whom are based in China. Of course, we’ve all been warned of the possibility that online Chinese retailers shouldn’t be trusted at all. They don’t really have the best reputations in terms of durability of products and because they have inadequate English conversation skills, it’s quite difficult to ask them any details about their products.

But again, I’ve had satisfactory experiences so far with a number of online Chinese vendors. Among the items I’ve purchased via Lazada, for instance, are a gooseneck kettle, mobile phone cases for old but still working devices, a silicon cap for reusable Nespresso capsules, among others. In the case of my gooseneck kettle, I’ve never had a problem with it (knock on wood) and it’s been with me for over four years. Frankly, the unfortunate experiences I’ve had on online shopping platforms have been with local retailers. And as I suggested to Boo, before making any final purchases, he should take the cue from the reviews of the products sold online. Similar to making reservations via Agoda, Booking.com, or Hotel.com, where we thoroughly read the reviews of the hotels we are eyeing to book for our vacations, I also go through all the assessments and evaluations of online retailers made by their customers based on the goods ordered and delivered to the the latter. Using the customer reviews, the online shopping platform gives the retailer an average star rating (yes, like hotels ratings!). Those who don’t have such patience or attention to these kinds of details, will of course find online shopping tedious. And if you’re the type who likes inspecting goods up close, and trying them on, as in the case of clothes, online shopping platforms will not

SEE “SHOPPING,” B5

Argentinian and Asian fusion fare fuel Hapag Movement’s fight vs hunger EPICUREANS are in for a gastronomic celebration that features the rich flavors of Argentinian and Asian-fusion cuisine this holiday season. All while supporting the noble cause of the Hapag Movement, a Globe-led initiative combatting involuntary hunger. Prepare to be whisked away on a delectable journey with La Cabrera and Your Local for Gourmet Giving Series: A Fine Dining Experience for the Hapag Movement, where indulgence meets benevolence, and every meal makes a difference. As part of the Thanksgiving dining event, both establishments will be donating a portion of their proceeds to fund the

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supplementary feeding and livelihood training activities of the Hapag Movement. Known for its rustic ambiance and massive flavorful grilled steaks that go with a smorgasbord of side dishes, La Cabrera offered a five-course gourmet extravaganza paired with the finest wines for P5,500+ per person on November 22. Following this, Your Local will dazzle diners on November 29 and 30 with a seven-course tasting menu for P4,950+ per person. Under the guidance of the celebrated Chef Patrick Go, this longstanding Makati favorite redefines modern Asian cuisine with dishes that are as visually arresting as they are gastronomically

intriguing. This culinary artistry has earned Your Local a place among the world’s best in Conde Nast Traveler’s list. “We at Your Local are excited to contribute to the Hapag Movement through a special tasting menu for our diners. We are grateful for this opportunity to give back to our kababayans in a meaningful way,” said Go. “These exquisite dining events show the commitment of Globe and our partners to #UniteForHapag, creating moments of joy and giving back to those in need. Together with the Fine Dining Club Philippines Facebook community, we invite consumers to join us in this celebration of good taste and goodwill, making strides toward a

#GlobeOfGood,” said Yoly Crisanto, Globe group chief sustainability and corporate communications officer. Gourmet Giving Series: A Fine Dining Experience for the Hapag Movement (glbe. co/globegourmetgiving) is a collaborative initiative between Globe and Fine Dining Club. “At Globe, we have always believed that big things happen when passions align and collective action follows,” said RG Orense, globe digital and social channels head. “With the help of the participating restaurants and Fine Dining Club Philippines, we are thrilled to bring together two passions: that of elevated dining, and helping others.”

CANCER (June 21-July 22): Lend a helping hand. Your outreach will touch someone who will reciprocate and encourage positive results. Don’t take a physical risk or put yourself in harm’s way. Protect yourself, your loved ones and your reputation. ★★★★

LEO (July 23-Aug. 22): Plan to do something you enjoy. All work and no play will lead to overreacting or emotional confrontation. Don’t feel you have to spend money to impress or lift your spirits; time spent with someone or doing something you love will be elevating. ★★

VIRGO (Aug. 23-Sept. 22): A makeover or home improvement project will face opposition. Get the go-ahead before you start in order to avoid having to backtrack. A partnership will be subject to change if one of you isn’t upfront about wants and needs. ★★★

LIBRA (Sept. 23-Oct. 22): Consider what’s happening before joining in. You may not want to share your thoughts or secrets prematurely. Someone will try to steal your ideas if you are too revealing. Don’t let your emotions run wild when dealing with personal matters. ★★★

SCORPIO (Oct. 23-Nov. 21): Get motivated and handle unfinished business. A change will get your mojo working and prompt you to mix and mingle with people who spark your interest. Listen carefully and question anything that sounds debatable. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Use intelligence and charm to get your way. A compassionate approach will encourage others to side with whatever decision you make. Walk away from anyone who tries to sabotage your plans. If you are fun to be with, everyone will want to join your team. ★★★★★

CAPRICORN (Dec. 22-Jan. 19): Slow down, decide what’s best for you and don’t let emotional situations cloud your vision. Make domestic changes that help you relax and lower debt and worry. Delegate time and money carefully, and don’t feel the need to pay for others. ★★

AQUARIUS (Jan. 20-Feb. 18): Be a selective observer. Don’t feel the need to get involved in someone else’s drama. Put your time and effort into self-preservation and feeling and looking your best. Promote what you have to offer, and you’ll find a path that leads to a successful enterprise. ★★★★

PISCES (Feb. 19-March 20): Pay attention, and you’ll recognize who is legitimate and who is trying to take advantage of you. Follow instructions, but consider how you can make improvements. ★★★ BIRTHDAY BABY: You are friendly, reliable and energetic. You are playful and entertaining.

‘organ music’ BY DREW SCHMENNER

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit ACROSS 1 “Let’s go,” in Spanish 6 “Spare me the details!” 9 House members, briefly 13 In the know 14 “Excuse me” 15 Frenzied way to run 16 Solar ___ (roof installation) 17 Aisle or window, e.g. 18 Neat and orderly 19 Survivor hit featured in Rocky III 22 1950s prez 23 Purged (of) 24 Rihanna hit about a partner thinking of only one thing 32 Under ___ (being threatened) 33 Conceal 34 TV brand 35 Large-screen movie format 36 Form W-4 org. 37 Aussie’s greeting 38 Slippery fish 39 Cafe card 41 Sings like Tony Bennett

43 Toni Braxton hit about an anguished ex 46 CPR performer 47 Dubai’s land, familiarly 48 Beyonce-led hit from 2019’s The Lion King 55 Boyfriend 57 Reverberate 58 Singer Mann 59 “Let’s do this!” 60 Property claim 61 Slow ones are sarcastic 62 Kids like to connect them 63 Trip-inducing substance 64 Mexican foods with shells DOWN 1 Take a drag on an e-cig 2 Not at work, say 3 Lion’s hair 4 Treat to twist 5 Many posed Instagram shots 6 You, in the Bible 7 Pork or ham 8 “Time for me to call it a night”

9 Like some raunchy comedies 10 Middle Eastern monarch 11 Group of orcas 12 Cloud’s backdrop 14 White with fear 20 Bout stoppers, for short 21 Taunt 24 Lightbulb unit 25 Toothbrush brand 26 Annoy 27 Boat engine’s whir 28 ___ Majesty King Charles III 29 Passion 30 “Today’s a no-go for me” 31 Thumbs-down votes 32 “Mon ___!” (French for “My God!”) 36 Printer purchase 37 Indian state by the Arabian Sea 39 Office message 40 Have plenty of fruits and veggies, say 41 Tea, in Hindi 42 Portray, as a historical event 44 Nick at Nite episodes

45 Canadian territory 48 Night crawler on a hook, perhaps 49 CBS police procedural 50 Garden structure 51 ___ monster (type of lizard) 52 Colorful Apple desktop 53 Seized car, briefly 54 Minus 55 Auction offer 56 Confessional rock genre Solution to today’s puzzle:

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Show BusinessMirror

Editor: Gerard S. Ramos • Friday, November 24, 2023

Black Listing and the Witch T

WO friends shared their arts; two artists breaching two separate eras: Elia Kazan was a card-holder of the communist party in the 1930s; Arthur Miller wrote plays that were sympathetic to the socialist cause. Kazan, it has often been said, stayed with the party for some 19 months while Miller had often been described as having flirted with socialism, certainly a disturbing description of the playwright who wrote some of the most politically compelling pieces of his generation and more. Then, it was the 1950s and the worlds of each individual have shifted—Elia Kazan had become the best if not the literary artifact to define the period— the America and its might and societal harmony. Or so its patriotic defenders claimed during that time. But the world then was different. Other forces were operating, looking at this thing called cinema and asking the question: “What can it do to society?” Artists and their arts were to be tested—and, for some, even alliances; for two, their friendship. None Without Sin: Arthur Miller, Elia Kazan and the Blacklist is the 1999 documentary made of those turbulent 1950s, when artists were made to choose their position. It was the era of blacklisting and at the center of it were Kazan and Miller and the act of testifying before the House Un-American Activities Committee (HUAC). Their decisions, when they respectively came to it, would ultimately color their career and define their lives for many years to come. The documentary can now be viewed on YouTube (youtu.be/S0LbRPeSgcY?si=o6B5OLXYfK7OXQCA). For Kazan, the recrimination would come in 1999, when he was given the Lifetime Achievement award by his peers at the Academy Awards. Some were shocked—aghast—that a “stool pigeon” would be rewarded. Outside the venue of the Oscars at the time, placard-wielding people, including artists, were saying the Oscars reward the arts, not the person. As the crowd was vociferous with their indignation, there were others who were on the side of Kazan. Kim Hunter, the incomparable “Stella” whose name had been shouted by Brando’s Kowalski, was one of the artists who believed in the works of Kazan. These were artists who believed the body of works of Elia Kazan could not be ignored. Directing a series of hits, and marking the screen with masterpieces, Kazan’s only sin was he testified against his fellow actors and artists. During the executive hearing of the committee, Kazan would name 17 individuals and his personal

MAKEUP WOES

WHO is the foreign artist who made his fans wait for hours before he finally appeared? The artist made a mall appearance and hundreds of his fans waited patiently while he was having a crisis with his makeup artist. He didn’t like the makeup artist’s work and asked that they start from scratch. In the end, he decided to go out with barely any makeup except face powder. The foreign artist didn’t have an attitude problem but he was very specific about what he wanted and what he didn’t want. Aside from the makeup, he only wanted to wear clothes that aren’t really meant for the stage.

IT’S OVER Elia Kazan and Arthur Miller, photographed by Jerzy Kosinski, 1971.

history would never be the same again. One of the insights in this Masterpiece documentary was that, for all the evil countenance present in the HUAC members, one cultural historian described them as a bunch of clowns, and that no one should have taken them seriously. Not Elia Kazan, the genius behind On the Waterfront and Streetcar Named Desire, to name just a few of his achievements. What about Arthur Miller? He refused to testify, defied even the committee, was held in contempt of Congress, and fined and handed a jail time sentence. Interesting how Miller and Kazan were like starcrossed lovers. In their early years, they had worked together looking for funding for a screenplay project called “The Hook,” which was about dockhands. But the authorities were sensitive about topics like labor unions. Without their knowing it, Harry Cohn of Columbia Pictures, the duo’s last hope, had sent the script to the FBI so that it could be vetted. I wonder if this happens in our small republic at present? The point of this memory is that Miller and Kazan really had a beautiful, if not odd friendship. Kazan directed Miller’s great works and no documentation ever showed the playwright to be unhappy about the movement from paper to stage. All we had was success and two geniuses. The two would share one lover, Marilyn Monroe: Kazan having an affair with her despite him being married and, later, Miller, marrying the woman who would turn out to be one of the most enduring female icons in the industry and in popular culture. The blacklisting would separate Kazan and Miller, with the two not speaking or acknowledging each

other for 10 years. Within that span, literatures would be produced as if the two were conversing or debating with each other. It was Miller first who did the first move by writing the play called The Crucible, a work on the Salem witchhunt set in the 17th century resonating with the witch-hunting of Sen. Joseph McCarthy. Kazan, on his part, reworked that script he was supporting with Miller. The film was On the Waterfront, with an Everyman, a nobody, fighting a mob and becoming the reluctant hero. Miller, however, had another ace up his sleeve, the play A View from the Bridge, which was about a man who turns into an informant from a friend. But in 1999, Arthur Miller was once more on the side of his old friend, Elia Kazan, and yet, as Dalton Trumbo, another blacklisted writer, put it at the end of the documentary, everyone involved with the blacklist was permanently scarred. These events are never far from what is happening in our own local industry. We see some personalities who held powerful positions as heads of cinemarelated institutions. Their position was backed by a relationship with a corrupt administrator. And yet, the largesse they distribute to young filmmakers allowed the latter to fund cinemas that had acute political positioning, if not keen advocacy voices. How far can we stay loyal to a corrupt film mogul if only to further the dream of Philippine cinema? Or can we close our eyes to politics and remain in the realm of the artistic, the persuasive? The documentary is directed by Michael Epstein, the documentary is under American Masters. n

Emil Sumangil now officially part of ‘24 Oras’ FROM covering the crime beat to reporting on the ground during disasters and conflicts, as well as giving voice to the public’s grievances, veteran broadcast journalist Emil Sumangil takes on a new mission as he officially becomes part of the award-winning newscast 24 Oras as one of its main anchors. Sumangil, who has been in the broadcast journalism industry for the past 20 years, was formally introduced as 24 Oras coanchor in a contract signing held on November 20 at the Studio 5 of GMA Network. Present during the signing were GMA Network chairman and CEO Atty. Felipe L. Gozon; president and COO Gilberto R. Duavit Jr.; and senior vice president and head of GMA Integrated News, Regional TV and Synergy Oliver Victor B. Amoroso. Sumangil has been at the forefront of major stories many times, covering exclusive after exclusive of the biggest headlines of the day. He is known for immersing in the plight of the everyday Pinoy and helping their concerns be heard. “Buong pagpapakumbaba, sa ngalan po ng aking pamilya, tanggapin ninyo ang taos sa puso kong pasasalamat sa pagkakataon at pribilehiyo na ipinagkatiwala ninyo. Hindi ko po ito sasayangin at aabusuhin, bagkus aking pang pagyayamamin for God and country,” he said. GMA’s top management, in turn, recognized Sumangil’s dedication and hard work as one of GMA Integrated News’ most trusted broadcast journalists. “Talagang magaling si Emil hindi lang na reporter, anchor ng news at public affairs program,” said Gozon, saying that Sumangil perfectly fits the position of one of 24 Oras anchors. “He more than deserves the appointment at malayo pa ang kanyang mararating sa trabaho,” he added. Duavit also expressed his utmost support. “Tayo’y nagpapasalamat sa patuloy niyang tiwala at sa patuloy na pagiging Kapuso, bahagi ng ating samahan, ng news. And we wish him the best. Lagi tayong naririto sa likuran niya,” he said. Emil has been a regular pinch-hitter to GMA Network’s flagship newscast 24 Oras. As news anchor, he joins GMA Integrated News’ Mel Tiangco and Vicky Morales in delivering the latest news, breaking stories, as well as the biggest events here and abroad via 24 Oras. And together with “Chika Minute” segment host Iya Villana-Arellano, “#KuyaKimAnoNa” segment host Kuya Kim Atienza, weather presenter Maureen Schrijvers, and “Game Changer” segment

Emil Sumangil (second from right) takes on a new mission as one of 24 Oras anchors. Present during the signing were GMA Network chairman and CEO Atty. Felipe L. Gozon (second from left); president and COO Gilberto R. Duavit Jr. (right); and senior vice president and head of GMA Integrated News, Regional TV, and Synergy Oliver Victor B. Amoroso (left).

host Martin Javier, Sumangil finally completes the reinforced lineup of 24 Oras. In her message for Sumangil, Tiangco said, “Alam mo ba pati si Mike Enriquez, madalas ka naming pinag-uusapan at sinasabi namin sa isa’t-isa, pang-24 Oras ang galing mo. Alam ko masaya siya na ikaw ang humahalili ngayon sa kanyang pwesto na talagang kanyang pinagsikapan.” She adds, “Sa panahong laganap ang katiwalian sa ating lipunan, kailangan nila ng isang matatakbuhan—si Emil Sumangil, isang Kapuso na handang umaksyon sa lahat ng panahon.” Officially welcoming him to the 24 Oras family was his GMA Integrated News family. Also present during the contract signing were GMA Integrated News vice president and deputy head for news programs and specials Michelle Seva; consultant Grace dela Peña-Reyes; assistant vice president John Ray Arrabe; and cluster heads and program managers. Also present were corporate affairs and communications vice president Angel Javier Cruz and corporate communications assistant VP Jojo Aquio.

Shopping... Continued on B4 likely be your friend. Which is a good thing, perhaps, because the only downside I can see from shopping online is the inability of controlling one’s desires, and not to mention one’s expenses. Because it’s basically a one- to two-click experience, and with your credit card, debit card, bank account or virtual wallets linked to the shopping platform, the temptation to frequently “add to cart and checkout” is very high. In the past, all we old-timers had to do was just stay home so we don’t windowshop and get tempted to buy stuff we don’t really need. But now, our phones are our virtual shop windows so...good luck with that. I know someone, for instance, who likes to publicly announce she’s made her last purchase for the month or the year, but after a few days or weeks, she can’t help but make another online purchase. And her family ends up knowing about it because of course, the items are delivered to their home. So the moral of the story is: “Never say, never.” n

THE young actress has reportedly split from her handsome boyfriend, who is from showbiz but kind of difficult to call an actor. The boyfriend reportedly found someone new, which is not surprising as the young actress is more in love with him than he is with her. They fell in love during the pandemic during a locked-in taping and everybody, including the boy’s family, was surprised that he fell for her as he repeatedly said she wasn’t his type. But she did become his type and their relationship lasted. His mother never approved of her. She put on a show in public but he never liked her. So now, she must be happy that it’s over.

IS HE A BEARD?

THE singer has long been rumored to be gay but he is also close to a young female celebrity so his fans have always been hopeful that he likes girls. He and the young female celebrity are often seen together and have even gone on overseas trips. He is also close to her family and is part of her circle of friends. Guess what? The singer and the young celebrity aren’t really a couple in the romantic sense. They’re just best buddies. The young celebrity’s real boyfriend is a handsome newcomer. She is so in love with him but is scared of being seen in public with him because she and the singer have a lot of fans who worship them together.

HE HAS A TEMPER

HOW true is the rumor that the alleged cause of the break-up of the actor and his lovely wife is because of his temper? This temper is reportedly the reason why the wife has no intention of reconciling with him. It’s not that he is wooing her. The actor expects the wife to go back to him when her money runs out but with her family’s support, she is determined to survive for the sake of her children. Her husband may have more money and influence but she would rather live a simpler and more peaceful life rather than one where she’s scared all the time.

Puregold CinePanalo Film Festival announces shortlisted entries in full-length, student shorts categories

THE highly anticipated Puregold CinePanalo Film Festival officially announced on November 6 a total of 55 shortlisted entries out of 270 submissions it received on its inaugural run. Puregold CinePanalo is a film festival that aims to showcase the triumph and resilience of the Filipino spirit, and the beauty of everyday wins in life. Retail giant Puregold named 15 established and promising directors for the fulllength category, while 40 student filmmakers made it to the first round of the short film category. Shortlisted entries will move on to the next steps of the competition, wherein Puregold will award a substantial grant of P2,500,000 for each of the five selected directors in the full-length category, and 25 grants worth P100,000 each for the promising amateur directors in the short film category. Vincent Co, president of Puregold, expressed his gratitude and excitement following the overwhelming response to the festival’s call for submissions. “We are incredibly happy about the numerous entries we received, with student entries coming from all over the country.” Puregold CinePanalo received 125 entries for the full-length category, and 135 entries for the student shorts category. The final phase will see Puregold’s careful selection of the ultimate finalists from the shortlist, who will then proceed with script finalization and subsequent production. All participants are required to submit their completed films by March 1, 2024, with short films having a runtime of 20 to 30 minutes and full-length features extending to a minimum of 90 minutes. The Puregold CinePanalo Film Festival will showcase the completed films for three days at the Gateway Cinemas in Cubao from March 8 to 10, 2024, with possible regional screenings to follow. Apart from the grants, the final Puregold CinePanalo films will be eligible for the coveted awards to be presented on March 9, adding an extra layer of surprise to and anticipation for the event. Fully produced short film entries will likewise be uploaded to the official Puregold Channel on YouTube, joining the roster of the channel’s successful digital narratives: GVBoys, Ang Babae sa Likod ng Face Mask, 52 Weeks, Ang Lalaki sa Likod ng Profile, and My Plantito.

Friday, November 24, 2023

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BREATHING NEW LIFE INTO UP-PGH’S PULMONARY HUB

THROUGH UP-PGH and SM group’s collab for social good, the hub was laid out with rooms that will help the Division of Pulmonary Medicine staff comfortably perform their tasks.

FTER more than three years of battle, the world has moved past the acute phase of the pandemic. However, the lingering effects of COVID-19 continue to pose challenges, particularly in the realm of health and well-being. One of COVID-19’s many concerning aspects is its long-term health consequences, or the so-called “Long COVID” where patients manifest persistent respiratory symptoms, neurological complications, cardiovascular issues, and mental health challenges. SM Foundation, the social good arm of the SM group, continues to extend its helping hand, especially in areas where support is crucial. From providing various assistance

during the height of the pandemic, it now breathed new life into UP-PGH’s post-COVID & PulmoCare HUB. Prior to the rehabilitation of the facility, UP-PGH Division of Pulmonary Medicine chief Dr. Lenora Fernandez recalled that the facility has struggled to expand its services to meet the growing needs of the community. “PGH does have many donors but has so many competing priorities, too. Those patients who continued to suffer from debilitating shortness of breath in silence still lacked essential services such as pulmonary rehabilitation equipment,” Dr. Fernandez shared. Driven by their staunch commitment

to patient care, t hey have e x plored solutions, sought par tnerships w ith supportive organizations, and continuously adapted their ser v ices to meet the evolv ing needs of their patients. “These hurdles made it a little challenging but we always try to find ways to overcome these challenges as there always are people and organizations willing to help,” she added. Today, through UP-PGH’s social good collaboration with the SM group, the hub can serve the community around it and reach other patients virtually in other parts of the Philippines. The hub was prudently built with a vibrant lobby to increase patients’ comfort. It also has spacious rooms, with dedicated areas for rehabilitation, ultrasound, cardiopulmonary exercise testing, and virtual consultation. The collaboration for social good also equipped the facility with state-of-the-art equipment that will complement the expertise of UP-PGH Pulmonary Division’s doctors and staff. With the new facility as a solid stepping stone, Dr. Fernandez is optimistic about the future of the hub, aiming to increase the number of patients served by 100 percent every year. With this milestone, she hopes to spread social good by extending assistance to other centers beyond PGH that would like to set up similar services to further strengthen pulmonary health throughout the country.

‘Paskong Pagmamahal ng Betan’ to be held on December 9 in Pililla

H E “ Pa s k on g Pa g m a m a h a l n g B et a n” C h r i st m a s Gi f t Giv i ng and Feeding Program for the less privileged children of Barangay Matagbak, Pililla, R izal w ill take place on December 9, 2023 in Pililla, R izal. T he beneficiaries w ill be treated to a day

of fun, games, and raff le prizes plus a Noche Buena basket. The highlight of the event will be the breaking of the bread to be shared with the beneficiaries. This ceremony will show all that is good and noble in man, showing how the Beta Sigma Fraternity

BOSE QuietComfort

Bose Unleashes A New Era Of Audio Innovation Redefining Style, Sound

OSE set the stage ablaze at The Fun Roof Makati on November 8, 2023, unveiling a revolutionary array of audio technology in a star-studded event heightened by DJ Bandit’s pulsating beats. The occasion marked the launch of Bose’s latest offerings, showcasing a fusion of seamless sound and style. The spotlight shone on four key products:

the QuietComfort Ultra Headphones (P27,900), QuietComfor t Headphones (P22,900), QuietComfort Ultra Earbuds (P19,500), and Smart Ultra Soundbar (P65,000). The QuietComfort and QuietComfort Ultra over- ear headphones redefined auditor y pleasure, boasting exceptional sound and 24hour noise cancellation without compromising

upholds its core values with unwavering dedication. Rooted in a sense of duty to God, country, family, and fraternity, the fraternity strives to make a positive impact in the world through the spirit of giving and equality, the very essence of Beta Sigma Fraternity. This maiden project is a humanitarian initiative of our fraternity chaired by Bro. Patrick Gatan and co-chaired by Bro. Daniel Bartolata and Bro.Roland Macagga in collaboration with Beta Sigma San Francisco Assembly. This project is envisioned to become an annual event of the fraternity not only to share moments with the less privileged but also to give opportunity for the Beta Sigma brotherhood to help others, to share their blessings, and to give hope and bright perspective for those who have less in life. For brothers and sisters who are willing to share a small part of their treasure, this can be sent through our GOC, Bro. Roland Macagga GCash No.0906349-9175.

on style and comfort. Users can indulge in hours of immersive sound, making them an ideal choice for both audio enthusiasts and fashion-conscious consumers. The QuietComfort Ultra Earbuds marked a new era of wireless audio freedom, delivering powerful audio performance without sacrificing sound quality. With an innovative Aware mode featuring Activesense™, these earbuds adapt to their environment, reducing noise and allowing users to isolate their listening experience regardless of surroundings. Elevating home entertainment setups, the Bose Smart Ultra Soundbar became the centerpiece of the evening. Crafted with Truespace™ audio technology, it promises an instant transport into the heart of the action, providing an unparalleled audio experience whether watching movies or playing video games. With the successful launch event concluded, Bose remains committed to revolutionizing the audio industry. The QuietComfort Ultra Headphones, QuietComfor t Headphones, QuietComfort Ultra Earbuds, and Smart Ultra Soundbar are poised to captivate tech enthusiasts and discerning lifestyle connoisseurs alike. As Bose continues to push the boundaries of audio innovation, brace yourself for an immersive sonic journey into the future. Bose QuietComfort

CCA Manila celebrates 27 Years of Excellence, Innovation and Fulfilling Culinary Dreams

CA Manila, the leading culinary education institution in the Philippines, is proud to announce its 27th anniversary. With a rich history filled with outstanding graduates who are now leading kitchens worldwide and a commitment to excellence, CCA Manila has been instrumental in shaping the country’s culinary landscape and fulfilling the dreams of those who aspire to culinary greatness. To celebrate this milestone, CCA Manila will host a three-part event on November 29, 2023, featuring a culinary competition, cooking demos, and an alumni homecoming. This celebration will highlight CCA Manila’s achievements and pay homage to the Filipino culinary heritage. “CCA Manila takes pride in its 27 years of pioneering culinary spirit. With experienced chefinstructors who are also alumni, the institution upholds a high level of expertise and dedication to the craft. CCA Manila’s strong foundation ensures that students are well-prepared to succeed in the real world,” said Dr. Veritas F. Luna, CCA Manila Chancellor. The November 29 event will kick off with the “Clash of Clans” competition—Sustainable Filipino Cuisine Team Challenge, starting at 9:30 am In this culinary challenge, talented CCA Manila students will demonstrate their skills by preparing an appetizer, a noodle dish, and a main course within a tight timeframe of 90 minutes. The competition aims to showcase sustainable Filipino cuisine and the creativity of aspiring chefs. Following the competition, from 1 pm to 4 pm, CCA Manila will be hosting the “My Hometown Cooking” cooking demonstration. Four esteemed instructors, also CCA Manila alumni, will take the stage to present dishes from their respective hometowns. Attendees will have the opportunity to learn from the best as they delve into the culinary secrets of Kerwin Funtanilla’s Cangrejo con Salsa Alavar from Zamboanga, Anne Atanacio’s Caldo from Rizal, Miguel Lorino’s Pancit Pusit from Cavite, and Jay Recio’s Inubaran from Aklan. This interactive and educational experience is open to the public for a fee of P3,500 per person, which includes a certificate, exclusive recipes, and tastings. The 27th-year celebration will culminate with an alumni homecoming. CCA Manila alumni, now leaders in the culinary arts industry, will gather for a nostalgic get-together. Starting with a tour of the new BGC campus, this event will provide an excellent opportunity for alumni to reconnect,

CHEF Anne Atanacio shares the tradition of her home town with a steaming bowl of Caldo from Rizal

network, and celebrate their shared passion for culinary excellence. “Through the years, CCA Manila has been at the forefront of championing Filipino cuisine, consistently highlighting local ingredients and techniques, demonstrating that our chefs can compete on a global scale,” added Dr. Luna. “Our graduates have undeniably made their mark on the global culinary stage, conquering the world one kitchen at a time.” The “My Hometown Cooking” cooking demonstration showcases Filipino cuisine’s diverse flavors and highlights CCA Manila’s commitment to promoting local talent and culinary traditions. “This event is a testament to our advocacy of preserving and elevating Filipino culinary heritage,” Dr. Luna said. “Filipino cuisine’s time has come, it is here to stay—and CCA Manila is leading the way.” To register for My Hometown Cooking Event and Alumni Homecoming, please visit: My Hometown Cooking https://cca-manila.edu.ph/hometown) and Alumni Homecoming https://cca-manila.edu.ph/ alumni. To know more about these events or CCA Manila’s programs, please get in touch with us at @ccamanila on Facebook and Instagram or talktous@cca-manila.edu.ph.

JOYFUL Gatherings-The senior leadership team led by General Manager Anna Vergara officially welcomes the holidays with “Gather To Give” A Share-A-Ton Holiday Soiree

Experience the Magic of ‘Gather to Give’: A Share-a-Ton Holiday Soiree at Sheraton Manila Hotel

HERATON Manila Hotel kicked off the holiday season with “Paskonstelasyon” presenting “Gather to Give:” A Share-a-Ton Holiday Soiree, an enchanting night promising more than just merriment. The Marriott Bonvoy Soiree Lantern cast its golden glow, illuminating the splendid Christmas tree and encapsulating the festive spirit. This year’s annual tree and lantern lighting at Sheraton Manila Hotel held special significance as part of the Sheraton Soiree campaign. Originating in September with the “Sundown Soiree,” it marked the countdown to Sheraton Manila Hotel’s upcoming 5th anniversary on January 16, 2014, at the Sheraton Ballroom. The event embodied Sheraton Manila Hotel’s commitment to creating memorable moments and shared experiences. Welcoming each guest with warmth and the signature Sheraton festive drink, the night set the tone for “Gather to Give.”Attendees captured and shared special moments, fostering a spirit of festivity filled with hope and togetherness. The celebration, opened by General Manager Anna Vergara, emphasized the profound impact of unity and giving during the holiday season. Aligned with the hotel’s white-themed goodwill, she acknowledged Sheraton Manila Hotel’s commitment to building sustainable partnerships and communities, underscoring the invaluable contributions of the audience. Central to the event, the “Merry & Bright: Joyful Gatherings at Sheraton Manila Hotel Holiday Brochure,” revealed exclusive offers and delightful surprises. From sweet holiday treats to sumptuous staples, it transformed the festive season into something truly special. Exciting collaborations were highlighted, including an upcoming bar takeover with 1834 Gin and The Lounge’s resident mixologists, promising an evening of exquisite cocktails and delightful entertainment. Another awaited

venture involved an arts and crafts collaboration with “Googly Gooeys,” enabling guests to craft unique holiday keepsakes. These collaborations added an extra layer of excitement to the magical evening. Children of Sheraton Manila Associates, alongside Executive Chef Andrea Burzio, adorned Christmas Chocolate Trees, each carrying a heartfelt dedication card. These treats sweetened the season and supported the education of children of Philippine soldiers through the HERO Foundation Inc. In the spirit of giving, Sheraton Manila ensured that a percentage of proceeds from every holiday item sold would be dedicated to the foundation. This initiative embodies the essence of the holiday season—a time for joy, sharing, and making a positive impact in the community. The evening concluded with the grand illumination of the Marriott Bonvoy Lantern and the Sheraton Manila Christmas Tree, symbolizing unity and marking the official start of the festive season. Sheraton Manila Hotel invited guests to be part of the “Gather to Give” experience, exploring the secrets of making holidays enchanting, memorable, and purposeful. A sumptuous gastronomic feast, featuring local products like artisanal salts, sustainable seafood, local chocolate, and coffee, was prepared by Sheraton Manila Hotel’s esteemed culinary team. Guests also got a glimpse of featured “Gather to Give” hampers and retail items, perfect for holiday gift-giving. Above all, Sheraton Manila Hotel left a powerful message of unity and hope, inspiring all to continue “Gathering to Give” and share the light they bring, making the world a better place. For more information about Sheraton Manila Hotel, you can visit their website at www.sheratonmanila.com or follow their social media accounts on Facebook, Instagram, and Twitter at @sheratonmanila. You can also reach them by phone at (02) 7902 1800 or 0917 859 7496.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

www.businessmirror.com.ph • Editor: Tet Andolong

Friday, November 24, 2023 B7

BYD PHILIPPINES OFFICIALLY LAUNCHES

THE ALL-ELECTRIC ATTO 3 U Story & photos by Randy S. Peregrino

NDER the Ayala Group of Companies, Mobility Access Philippines Ventures Inc. (MAPVI), the official distributor of BYD in the Philippines, has officially launched the all-electric Atto 3 crossover—the most advanced EV available from the Chinese global EV powerhouse and manufacturer. First previewed at the 11th Philippine Electric Vehicle Summit (PEVs), the Atto 3 crossover showcases some of the most advanced EV technologies available today. Available worldwide, BYD claims that the Atto 3 recently achieved its 500,000th production milestone last September 15, 2023. Named after the Attosecond, the smallest timescale used in physics, it represents the remarkable speed at which BYD’s battery and EV technology evolve. As such, the BYD also claims that the Atto 3 is equipped with all the latest revolutionary EV technologies hatched in the company’s research facilities.

e-Platform 3.0 THE Atto 3 delivers a sporty and aerodynamic design. Its sporty exterior emphasizes the headlights, echoing with the continuous taillights, have a wider beam of light exposure, which significantly improves the visibility and night driving experience, in conjunction with the unique dynamic steering light. The exterior profile has an expressive upward-slopping

waistline, complementing the selection of dynamic alloy wheels. Equipped with the all-new BYD e-Platform 3.0, the technology is designed exclusively for pure electric vehicles. Giving full play to the advantages of intelligence, efficiency, safety, and aesthetics, BYD claims that the e-Platform 3.0 aims to promote NEVs’ performance in safety and low-temperature driving range as well as improve intelligent driving experiences, to build more efficient and safer new intelligent EVs. Moreover, the Atto 3 is fitted with the world’s first mass-produced 8-in-1 electric powertrain. BYD has exceptional vertical integration capabilities within the supply chain by integrating eight key components. The design dramatically optimizes space utilization and energy efficiency by incorporating the VCU, BMS, MCU, PDU, DC-DC controller, onboard charger, drive motor,

Elvis has left the building

HE passing of Ray Butch Gamboa left a void that is hard to fill in the nation’s motoring journalism milieu. Butch—or Elvis as I fondly called him, a moniker that was very much to his liking as he was a self-confessed ardent fan of the king of Rock ‘n’ Roll—was the epitome of

everything about the car world insofar as the media twins of broadcasting and writing are concerned. When Elvis “left the building” last week due to a lingering illness that had left him wheelchair-bound for almost five years, the whole industry was in deep mourning. Like his namesake from the music world, Butch aka Elvis can never be replaced by anyone in this lifetime. Any wannabe will be quickly, sadly, pathetically, reduced to a poor imitation, an impersonator of the lowest kind. When Butch launched his iconic “Motoring Today” television show in 1987, it broke barriers as it became a watershed moment in the then fledgling world of

THE BYD Atto 3 in radiant Surf Blue color

ANOTHER color option is the fiery Parkour Red

INSIDE the “Fit for fun” cabin and transmission. Apart from the all-new BYD ePlatform 3.0, the Atto 3 is also fitted and powered by BYD’s proprietary lithium iron phosphate (LFP) Blade Battery, which is known for its safety, durability, overall lifespan, resistance to degradation from charge/discharge cycles, driving range, and performance. With this battery technology, up to 480km range is achievable. Unique inside is what BYD dubs as a “Fit for fun” design. Its user-friendly functions and playful interior give a unique and distinctive style. Agile and fun, the Atto 3 provides an engaging driving experience. The vibrant,

streamlined central console reflects a positive and energetic attitude toward life, highlighting the first-in-class 12.8-inch rotating touchscreen infotainment display. Here, drivers can see the 360-degree camera feed, manage connectivity with Apple CarPlay or Android Auto, and control other vital vehicle functions. The interior also features a panoramic sunroof and leather trim. Motivation comes from an electric traction motor generating over 200 hp and 310 N-m of instantaneous torque, achieving zero to 100 km/h acceleration in just 7.3 seconds. Adding to its arsenal of EV tech features is

motorization. It was a risky gamble only the likes of him would ever dare do. Gutsy to the bone, he took on the challenge headon despite the unfriendly winds buffeting the industry then, as only a handful of car companies were in circulation—grappling with costs, courting customers well deep into the night just to make a buck. Together with the late, lamented Pocholo Ramirez, the duo plodded on through the unchartered path, braving the unseen traps of emptied pockets at the worst of times.

single malt. Make that Jura or Macallan. Other times we killed Yamazaki, if not Hibiki. Whether we were on home shores or in an overseas coverage, as in the Tokyo Motor Show (renamed this year as the Japan Mobility Show by event chairman Akio Toyoda, the dynamic chairman of Toyota Motor Corp. in Tokyo), Elvis almost always made it a point to host a drinking session, either at his office at Green Valley or at his nearby condo in Pasig that is a mere spitting distance from the Commons mall. And when we did single malt, we made it neat. Cold water always the chaser. We made it a point to get dizzy, if not drunk. “What’s the use of drinking if we don’t get happy,” Elvis loved to say.

Quitting

“WE thought of quitting, but our will, our stubbornness, carried us through the storm,” I remember Elvis telling me that during one of our many drinking bouts. Oh, how Elvis loved to drink. We practically tried everything, until Elvis settled down with

Ledge dancing

THERE was this night when Vince Socco,

regenerative braking. The Atto 3 can also provide power in natural emergencies, thanks to its V2L (vehicleto-load) function. In terms of charging, the vehicle uses a free CCS2 (AKA Type II) charging system rated at 7kW. Full battery charge is achieved in about eight hours. It also comes with the Atto 3, a portable 2.3kW charger. The Dynamic variant handles up to 70kW fast DC charging, while the Premium version can support up to 80 kW.

Safety features, variants, and pricing ADVANCED safety is also a hallmark of every BYD vehicle. The Atto 3 comes standard with Traction Control and Electronic Stability Control, LED headlamps, taillamps, DRLs, and front and side curtain airbags. Completing this suite of safety features is the ADAS Package with Stop & Go Full Speed Adaptive Cruise Control (ACCS&G), Automatic Emergency Braking System (AEB), Blind Spot Detection (BSD), Lane Departure Warning

now Lexus Manila chairman, brought us to a bar in Malate, Manila—Elvis, Ding Marcelo and myself. This was in 1991, the year I began as Motoring Editor of the Philippine Daily Inquirer. Ding was Motoring Editor of Manila Bulletin, with Elvis as both motoring columnist of Philippine Star and TV anchor of “Motoring Today.” “Thank you for coming,”said Vince as we sat down at the bar with rock sounds blaring. “You are the big three today in the motoring media and I am honored, indeed, to be with you.” When the night wasn’t that young anymore, Elvis made an unforgettable move only he alone could ever perform: He did ledge dancing to our eternal delight. There he was, gyrating on the ledge in an impromptu Elvis D’ Pelvis act. The crowd lustily cheered; some gave him a standing ovation. “Ayos ba?” Elvis would ask us after his

(LDW) and Emergency Lane Keeping Assist (ELKA). Available in two variants, the Atto 3 Premium (up to 480 km range) retails at P1.798 million, while the Atto 3 Dynamic (up to 410 km range) is at P1.598 million.

EV Ecosystem MEANWHILE, the BYD Atto 3 is also supported by the existing Ayala Land EV ecosystem that will enhance the user experience and help realize the full potential of the BYD lineup. Twenty Ayala Land Charging Hubs throughout Luzon ensure EV users always have a charging station nearby, with more in the pipeline. According to AC Motors, the automotive arm of the Ayala Group of Companies, it has also committed to expanding the BYD dealership network to 12 in 12 months. Soon, more BYD dealerships will be in the country to serve its loyal customers. In the meantime, the Atto 3 can be seen, experienced, and purchased from BYD Makati and BYD Quezon Avenue.

performance, wiping off beads of sweat from his forehead, smiling heartily while giving us a wink. And so, although Elvis“has left the building,” the building will house a memory reserved only for him. He will forever be in my heart.

PEE STOP Ray Butch “Elvis” Gamboa, father of iconic DJ Tintin and Wee the assigned successor, was also a passionate poker player. And he relished preparing good food cooked no less by his beloved wife, Babes, before every poker session that he loved to host. When Babes had passed on couple of years before the pandemic, that’s when Elvis went downhill. He lost the appetite not only for good food but the good life, as well. They are together Up There now where they’d surely rekindle the flame of their love—so famed it knows no end. Godspeed, lovers.

Philta crisis solved–Tolentino

Sports

By Josef Ramos

BusinessMirror

B8 | F

riday, November 24, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Fortuna forges title clash against Duque

IKHA FORTUNA moved a step closer to claiming her first pro victory following a decisive 4&3 triumph over Chihiro Ikeda to seal a championship clash with amateur Laurea Duque in the International Container Terminal Services Inc. (ICTSI) The Country Club (TCC) Match Play Invitational at the TCC course in Santa Rosa City on Thursday. Fortuna, 23, maintained her composure and executed her game plan in near-impeccable fashion, winning two of the first six holes and establishing a 4-up lead after 11. Despite a stumble on the 13th, she stayed in control en route to victory, adding to her string of dominant runs, including a 5&3 romp over last year’s champion and top seed Harmie Constantino and a 5&4 win over Korean Seoyun Kim. Fortuna emphasized the importance of sticking to her game plan and staying patient. With one match to play, she has secured the top P280,000 purse in the Ladies

Philippine Golf Tour side of the head-to-head duels as she faces amateur Duque in the finals. “The key to winning today (yesterday) was pretty much the same— sticking to my game play and staying patient out there,” said Fortuna. Despite her frustration after a setback on No. 13, she cited Ikeda’s strong play and putting skills. “Like I said, it was easy to get frustrated towards the backnine. I wasn’t getting what I wanted,” said Fortuna. “I had one bogey and I kind of got like, frustrated in a way. But I just stuck to it (plan) so it pretty worked today (yesterday).” Despite the margin of victory, Fortuna said: “Ikeda played very good, putted really good. It’s just like I just had more birdie opportunities.” “But playing with her, it was tough,” added the University of Okhaloma product. In the other side of the semis face-off, Duque pounded out a tougher 1-up squeaker over Gretchen

Villacencio, marking her most successful campaign in a young amateur career. Duque recognized the significant of reaching the finals of the P1.5 million championship, considering it one of her best achievements. She attributed her success to improved performance throughout the season. But against Fortuna, Duque stressed the need for a strong effort and favorable breaks. “I haven’t had such a good year this season but I started to get better,”said Duque, who cashed in on Villacencio’s shaky putting to stay in the match after trailing on Nos. 2 and 3. She seized a 1-up lead on the six with a clutch birdie from 6 feet and never yielded the upperhand.

Tabuena pulls off thriller against Que, barges into semis

IGUEL TABUENA did the unthinkable, orchestrating a jawdropping comeback from four holes down with eight to play to sting Angelo Que, 1-up, in a thrilling high-noon showdown in International Container Terminal Services Inc. (ICTSI) The Country Club (TCC) Match Play Invitational Thursday. “I don’t think anyone who was 4-down would expect to come back. But that was early on and I told myself there are a lot of holes left,” said Tabuena, who sealed his improbable backside run with a clutch birdie putt from under 20 feet, set up by an excellent 8-iron approach from a fairway bunker on the challenging No. 18 of the TCC course. “It was against the wind so I thought it would be much closer than that but I was happy to make the putt,” added Tabuena. Tabuena’s triumph propelled him to the semifinals, where he faced Justin Quiban in an afternoon duel at presstime. Quiban earlier secured his spot in the Last 4 by winning

No. 6 and birdieing the eighth, ultimately clinching a 3&1 victory over Jhonnel Ababa. Tony Lascuna and Elmer Salvador, on the other hand, sealed a clash of seasoned Davaoeño aces in the other side of the quarterfinals as the former repulsed a hard-fighting Marvin Dumandan, 3&1, and the latter stunning Guido van der Valk with a monster 30-foot par-saving putt on the 18th to escape, 1-up. Preserving a one-stroke lead over the reigning two-time TCC Invitational champion, Salvador opted to lay it up at TCC’s demanding closing hole in a bid to secure a par but he chipped short and left himself instead with a tough putt to make. Van der Valk, meanwhile, blasted to within tap-in distance for par, adding pressure to his veteran rival who is out to cap a comeback from a two-year layoff with a strong finish in the P2 million championship put up by ICTSI. But Salvador delivered in the clutch, pumping the air with fullfisted glee after the ball tracked the slope and dropped into the cup.

Tabuena later dropped Que to his knees with his own version of a massive putt, progressing instead to the next phase for a crack at the top P280,000 purse in the four-day championship organized by Pilipinas Golf Tournaments Inc. Reflecting on his performance, Tabuena acknowledged the challenges he faced and credited MIKHA FORTUNA appears going coast to coast as Miguel Tabuena brings his perseverance, out his best form. ROY DOMINGO saying: “I thought exchange with Tabuena into what I was going to go home early. But had seemed to be a commanding I’m proud of myself and my sister4-up lead after 10 holes. caddie (Danielle) for just not giving A birdie duel in the first three up and fighting through some holes hinted at the coming of a long, fatigue already,” Tabuena said. arduous battle for one of the coveted “Angel played pretty well the first slots between two of the country’s top part of the match.” shotmakers with Que seizing a 1-up Truly, Que skillfully lead on No. 3. transformed an initial heated birdie

PHILIPPINE Olympic Committee (POC) president Abraham “Bambol” Tolentino is relieved the crisis at the Philippine Tennis Association (Philta) is finally over with the election of members of its board of trustees set for December 11 at the Century Park Hotel in Manila. “It’s a crisis that dragged on for years and we are glad that the ITF [International Tennis Federation] has agreed on the amended by-laws that will pave the Philta’s path back to recognition,” Tolentino said on Thursday. The leadership and internal crisis at Philta started on December 3, 2020 when the ITF suspended the national sports association (NSA) for maintaining an “exclusive membership” board of trustees (BOT) and not a regional representation. The ITF sought the POC to create an ad hoc body to oversee operations of the Philta while revising the NSA’s charter that hinges on a membership bordering on a genuine nationwide representation.

The ITF put its imprimatur recently on the NSA’s amended by-laws through its senior legal counsel Hannah McLean and Thomas Needham with the election of the new members of the board of trustees specifically set before the year ends. POC deputy head of legal Atty. Billy Sumagui and NSA caretaker Ramon “Tats” Suzara led the amendment of the by-laws that now require the Philta BOT to have 13 members from geographic sectors consisting of the country’s various regions. The amended by-laws were based on the original 1955 and revised 2020 Philta by-laws, ITF constitution, Hongkong Tennis Association bylaws, The Rule of Tennis and the Philippine Corporate Law. With the POC as caretaker, 18-year-old Alex Eala won a historic junior girls singles title at the US Open last year. She also had junior doubles triumphs at the 2020 Australian Open and 2021 French Open and was a bronze medalist at the Hangzhou Asian Games. “We have to protect the athletes from these conflicts and the POC did a great job by taking care of them,’’ said Tolentino, adding that more than 200 tennis clubs from all over the country have signified their intention to participate in the elections. He said that two groups under Parañaque City First District Rep. Edwin Olivarez and business tycoon and jeweler Jean Henri Lhuillier are expected to contend for the Philta presidency. “It’s basically a toss-up between the two big groups unless they come up with a compromise,” Tolentino said. Similar crisis in volleyball, jiujitsu and swimming were resolved since Tolentino took over as POC president in 2020.

Go boosts PNPA cadet athletes

ENATOR Christopher “Bong” Go stressed his commitment to eradicating illegal drugs by promoting a healthy and active lifestyle through sports. “Sports plays a significant role in nation-building and in molding the lives of the youth,” Go said in his speech during the opening ceremony of the Philippine National Police Academy’s (PNPA) Cadet Corps Philippine National Police Intramurals in Silang, Cavite, on Thursday. “There is a need to encourage the youth to engage in sports activities rather than succumb to the dangers of vices such as illegal drugs,” added Go as he vowed to continue the anti-illegal drugs legacy of former president Rodrigo Duterte. The Senate Committee on Sports chair spoke before the 1,200-strong cadet corps who will compete in 29 events—cheer dance, squad challenge, platoon run, marathon relay, triathlon, softball, basketball, football, frisbee, practical shooting, sepak takraw, swimming, volleyball, archery, badminton, chess, Game of the Generals, tennis, table tennis, sprints, arnis,

judo, karate and taekwondo. “It is an honor to stand before you today as we kick off the muchawaited Intramurals for the academic year,” said Go, an adopted son of CALABARZON. “This four-day sports competition is not just a display of physical prowess, but a testament to the indomitable spirit of sportsmanship, camaraderie, and dedication that defines the cadets of the PNPA.” He added: “It brings me great joy to witness the energy and enthusiasm radiating from each one of you as you participate in this event. Sports, as we all know, is not just about winning or losing; it is about discipline, teamwork, and pushing oneself beyond perceived limits.” Go emphasized his strong supporter for uniformed personnel and strong advocate of the continued campaign against illegal drugs and fighting criminalities. “We recognize that sports is not only a tool for physical development but also a powerful deterrent against the influence of illegal substances,” he said.