BusinessMirror November 28, 2023 by BusinessMirror

CMMA honors 52 media institutions, professionals

FULL TEXT OF CMMA SPEECH OF CARDINAL ADVINCULA»A9

ROTARY CLUB OF MANILA JOURNALISM AWARDS

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

HE recently concluded 45th Catholic Mass Media Awards (CMMA) honored 52 exceptional mass media professionals and institutions for their outstanding dedication to promoting Christian values across diverse media platforms. Held at the Citystate Tower Hotel in Ermita, Manila, the event recognized winners selected from 205 finalists spanning print, radio, television, advertising, music, the Internet, and Student CMMA categories. Since its inception in 1978 by the late Jaime L. Cardinal Sin, the CMMA continues to champion individuals and entities devoted to the mission of serving God through mass media. In his welcome address, CMMA Chairman D. Edgard A. Cabangon expressed deep gratitude for the overwhelming s upport by media practitioners

towards this year’s CMMA. He emphasized the significance of honoring excellence in crafting media content that embodies the highest human values. Cabangon remarked, “Tonight, we give honor to excellence. To be recognized in this important event is the excellent way media practitioners crafted their body of work that communicates the promotion of the highest human values.” This year’s CMMA theme, “Speaking With the Heart: The Truth in Love, Ephesians 4:15,” aligns with current societal challenges, emphasizing the role of media practitioners in shaping the perspectives and character of society. The theme underscores the vital responsibility of media professionals in disseminating truth and love through their craft, a sentiment echoed by Cabangon. See “CMMA,” A2

CATHOLIC Mass Media Awards Chairman D. Edgard A. Cabangon, and CMMA Honorary Chairman and Archbishop of Manila Jose F. Cardinal Advincula, D.D. are seen at the CMMA Awards night. RUDY ESPERAS

BusinessMirror Tuesday, November 28, 2023 Vol. 19 No. 48

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2 THINK TANKS: GROWTH TO BE OFF-TARGET IN Q4 w

P25.00 nationwide | 2 sections 18 pages |

By Cai U. Ordinario

@caiordinario

HE country’s economic growth will fall short of expectations in the last quarter of the year as Filipinos continue to struggle with high inflation. This is expected to lead to fullyear growth of below 6 percent according to First Metro Investment Corp.-University Asia and the Pacific (FMIC-UA&P) Capital Markets Research and the Asean+3 Macroeconomic Research Office (Amro) this year. FMIC-UA&P Capital Markets Research expects full-year growth to average 5.8 percent while Amro estimated that the country’s GDP growth will only average 5.6 percent. “All told, while the possibility of a slightly slower GDP uptick in the fourth quarter exists, full year growth should hold at 5.8 percent, which still exceeds most forecasts,” FMIC-UA&P Capital Markets Research said. The government’s growth target for the year is 6 to 7 percent— See “Think tanks,” A2

IN an undated photo released by Zodiac Maritime, the tanker Central Park is seen. Attackers seized the tanker linked to Israel off the coast of Aden, Yemen, on Sunday, Nov. 26, 2023, authorities said. While no group immediately claimed responsibility, it comes as at least two other maritime attacks in recent days have been linked to the Israel-Hamas war. ZODIAC MARITIME VIA AP

GOVT CAN’T BE RECKLESS IN ADDRESSING SHOCKS–NEDA

HILE the economy is not as vulnerable to shocks compared to 10 to 20 years ago, the government cannot resort to making reckless decisions to respond to shocks, according to the National Economic and Development Authority (Neda). Socioeconomic Planning Secretary Arsenio M. Balisacan recently told reporters that addressing shocks remains a priority for the government. However, responding to these shocks does not mean raising spending and watching the budget deficit skyrocket. Balisacan said the government wants to “achieve more with less.” “We keep in mind always what we have been calling the good fundamentals, the fun-

damentals of economic development, particularly for medium-term to long-term development,” Balisacan said. “So you don’t act recklessly by, for example, unduly increasing your spending to the extent that the debt and the deficits will skyrocket. We [can’t] do that. So you have to find ways of addressing the issues,” he added. Among these shocks is the recent decision of India to extend its rice export ban and the impact on oil prices should the conflict of Israel and Hamas escalate. Balisacan said the government is closely monitoring these developments. It is also working toward expeditingprojectssuchasthefood stamp program in order to protect the most vulnerable Filipinos. See “Govt,” A2

US, Japanese destroyers foil Gulf of Aden tanker hijacking By Malou Talosig-Bartolome @maloutalosig

WO destroyers from the United States and Japan responded to a distress call on Sunday from the besieged commercial tanker M/V Central Park, which was the subject of a hijacking attempt. USS Mason (DDG 87), one of the Dwight D. Eisenhower Carrier Strike Group that the US Navy deployed after the October 7 attacks in Israel, was conducting freedom of navigation patrols at the Gulf of Aden when they received the call for help from the crew of Central Park. Related stories in A6 World and A3 Nation. Also, the Japanese Maritime Self-Defense Force Akebono and a P3C patrol plane rushed to the site near Central Park.

Upon arrival, the US Navy and Japanese destroyers learned that pirates had already boarded the ship. The coalition counterpiracy task force then demanded the release of the vessel. Five armed individuals disembarked from the ship and tried to flee using their small boat. “USS Mason pursued the attackers, resulting in their eventual surrender. The crew of the M/V Central Park is currently safe,” the US Central Command (Centcom) sent in a statement. While the US Navy was about to conclude their interdiction, around 1:41am Sanaa time Monday, Houthi-controlled areas in Yemen fired two ballistic missiles on the general location of USS Mason and M/ V Central Park. See “US,” A2

BREAKING SILENCE THROUGH FILM Embassy of France Cultural Attaché Martin Macalintal, French Ambassador to the Philippines Marie Fontanel, acclaimed French actress Emmanuelle Béart, SM Supermalls’ President Steven Tan, and Embassy of France’s Cultural Counsellor Marc Piton grace the 26th French Film Festival press conference at the S Maison at Conrad Manila. Béart, renowned for her roles in French cinema, was in Manila recently to officially open the 26th French Film Festival and the premiere of her documentary, Un Silence Si Bruyant (Such a Resounding Silence). It is a powerful statement against violence towards women and children, and is a highlight of this year’s French Film Festival ongoing at the SM Cinema Mall of Asia and Megamall until December 3, 2023. SM SUPERMALLS

PESO EXCHANGE RATES n US 55.4840 n JAPAN 0.3710 n UK 69.5603 n HK 7.1146 n CHINA 7.7616 n SINGAPORE 41.3936 n AUSTRALIA 36.3809 n EU 60.5164 n KOREA 0.0427 n SAUDI ARABIA 14.7938 Source: BSP (November 24, 2023)

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A2 Tuesday, November 28, 2023

PHL launches maiden offer of Sukuk bonds, eyes $500M By Jasper Emmanuel Y. Arcalas

In a formal notice on Monday, the Philippines announced its benchmark-sized US dollar-denominated Sukuk offering in 5.5 year tenor. The Philippines has mandated Citigroup, Deutsche Bank, Dubai Islamic Bank, HSBC, MUFG, and Standard Chartered Bank as joint bookrunners and joint lead managers, according to the announcement. “This will potentially be the Republic’s maiden sukuk issue after conducting a Philippine Economic Briefing [PEB] in Dubai last September, with a target of diversifying the investor base towards Middle Eastern and Islamic countries,” it said.

Benchmark-size bond offerings amount to at least $500 million. However, Finance Secretary Benjamin E. Diokno had earlier said that the national government plans to raise about $1 billion from the Sukuk bonds. The country’s Sukuk offering is expected to be rated Baa2 by Moody’s, BBB+ by S&P, and BBB by Fitch, according to the announcement. Later on Monday, Moody’s Investors Service (Moody’s) said it assigned “a backed senior unsecured rating of Baa2 to the Government of the Philippines’ first US dollardenominated, Shari’ah-compliant trust certificate [sukuk] issuance

maturing in 2029.” Moody’s noted that its “sukuk ratings do not express an opinion on the structures’ compliance with Shari’ah law.” The Sukuk bonds will be issued through the Philippines’ Sukuk Trust with the Land Bank of the Philippines-Trust Banking Group. Michael L. Ricafort, Rizal Commercial Banking Corp.’s Chief Economist said the yields or returns of the Philippines’s maiden Sukuk offering would be “somewhat similar” to the benchmark US dollardenominated sovereign bonds. Ricafort explained that the timing of the Sukuk offering came at a time when both domestic and global market conditions have improved amid easing inflation trends and pauses in policy interest rates. “Since this is a new/debut issuance there could be some market excitement that would lead to higher bids/demand,” he said. “Thus, both borrowers/bond issuers and investors are in a sweet spot in terms of lower borrowing/financing costs; while investors would still

CMMA...

Cabangon highlighted the leadership and guidance of CMMA Honorary Chairman and Archbishop of Manila Jose F. Cardinal Advincula, D.D.: “Our heartfelt thanks

to you, Cardinal Advincula for your relentless support as we give our best to continue CMMA’s legacy of ‘speaking the truth in love’ through the recognition of

@jearcalas

HE Philippines has formally launched its maiden offering of benchmark-sized Islamic bonds or Sukuk bonds with a minimum target of raising $500 million.

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enjoy relatively higher interest rate income/bond yields that already topped out/reached a near-term peak or inflection point in October 2023, so a win-win for both borrowers/issuers and investors,” he added. The Philippines programmed to borrow a total of P2.207 trillion this year, following a 75:25 mix in favor of domestic sources. (Related story: https://businessmirror. com.ph/2023/08/03/phl-outstanding-debt-seen-rising-top15-84-trillion/) Bangko Sentral ng Pilipinas (BSP) officials earlier noted that the country’s plan to issue Sukuk bonds bodes well for the growth and development of Islamic banking and finance nationwide. (Related story: https://businessmirror.com.ph/2023/09/14/bspofficials-optimistic-on-sukukbonds-gains/) BSP Assistant Governor and Chairman of the Islamic Finance Coordination Forum Arifa A. Ala said the government issuing Sukuk bonds sends a strong signal that the country is ready for investments in Islamic banking.

various works showcasing Christian values and morals.” The keynote address delivered by Cardinal Advincula resonated deeply with the audience. Cardinal Advincula urged media professionals to harness the power of truth with empathy and love: “To speak with the heart is to speak the truth in love. As media practitioners, you are categorically required to gather and broadcast the truth and not fake news or lies. But you must do so always in charity and in love. This does not mean sugarcoating or manipulating the facts to suit one’s narrative. This means that we try to look at one another with compassion, welcoming our mutual frailties with respect rather than judging by hearsay and sowing discord and division.” The Cardinal emphasized the urgent need for truthful, uplifting, and empathetic communication in today’s media landscape, stressing the significance of delivering messages with respect, humility, and a genuine concern for humanity. “The mass media community must do its part in advocating for a fair, honest, and diligent delivery of their messages. We are grateful for the technological advances in mass and mediated communication platforms. Thanks to the digital media, most of us are given a chance to express our voices and create our own content,” he added. Two special awards were also presented. The Serviam Award, honoring individuals or organizations significantly contributing to evangelization and the transmission of human values through mass media, was posthumously awarded to the late veteran broadcaster Miguel Castro “Mike” Enriquez. The St. John Paul II Award, which acknowledges individuals, groups, or organizations utilizing mass media innovatively to communicate the gospel message to the broadcast sector of the community, was conferred upon Dominus Est PH—an independent online evangelization ministry operated by Stardust Publishing. The event was hosted by Rev. Fr. Hans Magdurulang, CMMA Judges Coordinator; Cheryl Cosim, OnePH and TV5 News Anchor; and Kim Atienza, GMA Network News Anchor and Host. The 45th Catholic Mass Media Awards will be aired on CNN Philippines and Aliw Channel 23 on December 10, 2023, at 10 PM and on TV Maria on December 31, 2023, at 10 PM.

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Think tanks...

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where achieving the low-end would require a 7.2 percent growth in the last quarter of 2023. “GDP growth in 2023 is projected to moderate to 5.6 percent due to high base effects and weaker external demand, before edging up to 6.3 percent in 2024 as external demand recovers,” AMRO said. FMIC-UA&P Capital Markets Research said the fourth quarter will see growth continue on the back of strong consumer spending due to the holidays and the increase in the government’s infrastructure spending. However, this may not be enough to boost GDP growth to 7.2 percent due to inflation which is expected to average 6.2 percent in 2023. The local think tank said while inflation is slowing down, food price movements may dictate the pace of inflation. Oil prices, it said, may hover around $76 percent barrel (WTI) due to weak global demand. Nonetheless, FMIC-UA&P Capital Markets Research said inflation may fall within the government’s 2 to 4 percent target in the first quarter of 2024, if food price increases will be muted. “Weaker crude oil prices will aid in this downward trend, since WTI prices have plunged by some 20 percent since hitting a peak on September 27th, after Hamas rocketed Israel. Notably, the rise from the same level as in mid-November of WTI prices took 79 days to peak, but only 41 days to fall to current levels,” the think tank said. “To be sure, rice prices still have an upside risk if the government fails to address the emerging El Niño droughts. Still, Transport and Food price indices have nearly equal weights at around 9 percent of CPI,” it added. Meanwhile, A mro said the country’s economic growth will be clouded by various factors and challenges. The short-term challenge is inflation. Amro said the country’s headline inflation is expected to rise to 6 percent in 2023 from 5.8 percent in 2022. This is expected to moderate to 3.6 percent in 2024, within the 2 to 4 percent inflation target of the Bangko Sentral ng Pilipinas (BSP). “In the short term, high inflation, economic slowdown in major trading partners, and volatility in global financial markets along with

Govt...

tighter financial conditions could pose risks,” Amro said. Given this, Amro said it supports the whole of government approach to addressing inflation. These efforts include the provision of targeted fuel and cash subsidies to vulnerable sectors. “Long-term growth potential is largely affected by the scarring effects of the pandemic, the pace of infrastructure development, geopolitical risks, and economic losses from natural disasters that are being exacerbated by climate change,” Amro also said. Further, Amro recommended that the government undertake programs that will help the country overcome the “scarring effects” of Covid-19. This includes efforts to help the Philippine workforce embrace technology through efforts that would upgrade their knowledge and skills to equip them for the demands of the new age workplace. More effort, Amro said, should be exerted to attract additional investments and promote both goods and service exports. “Infrastructure investment, digitalization, and development of a green economy can help strengthen the country’s competitiveness,” Amro added. Earlier, a New York-based think tank said attaining the country’s growth targets will cost Filipinos either through higher taxes or more debts, as reaching a growth of 6 percent or better may lead to higher deficits. Global Source Partners country analyst and former central bank deputy governor Diwa Guinigundo said it may not be feasible to attain the country’s growth targets this year. He said reaching the country’s “ambitious growth assumption” could lead the deficit to reach 5 percent of GDP. Guinigundo explained that the government’s revenues in the first three quarters of the year declined to 16.5 percent of GDP from last year’s 17.1 percent of GDP. Given this, he said the government’s actual expenditures of P3.8 trillion are short of the programmed spending of P3.9 trillion. Guinigundo said the recent call of the government to intensify catch-up spending may also mean “very little” if the national budget this year will be left to fuel the country’s growth.

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He added that efforts are under way to strengthen the government’s targeted subsidy programs. This means addressing leakages and other problems observed in earlier government programs. “If there is a rise in food prices, then the best we can do is to ensure that the most vulnerable are protected, and we have to use the limited resources in ways that reach those people,” Balisacan said. “[We have to] strengthen [these programs] so that we can achieve more with less. That’s the objective. Achieve more with less,” the Neda Chief added. Earlier, local economists said Filipinos may not be able to see price increases slow next year, especially with the recent decision of India to extend its rice export ban to 2024. Rice, the country’s food staple, could remain expensive next year given the ban on exports of the

US...

commodities. The ban imposed by India could increase the international prices of rice, at least by the middle of 2024. Philippine Institute for Development Studies (PIDS) Senior Research Fellow Roehlano Briones said, however, that this is not considered a major shock since current prices have already incorporated this. Monetary Board Member Bruce J. Tolentino noted that elections in India are within the April-May period in 2024. He expects that once the election blows over, the ban could be lifted, and international rice prices could ease. Tolentino said, however, that the ban is not a total ban. He said the Government of India decided to honor its existing contracts. This includes government-to-government discussions that it has had with its partners. Cai U. Ordinario

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“The missiles landed in the Gulf of Aden approximately 10 nautical miles from the ships,” the US Centcom said. “There was no damage or reported injuries from either vessel during this incident.” Gen. Michael Erik Kurilla, US Centcom commander, stressed the need for maritime domain security in the Gulf region. Meanwhile, Japanese state TV quoted defense ministry sources

as saying that Akebono helped in the interdiction. Under Japan’s anti-piracy law, the Japanese were allowed to fire warning shots only. “The Japanese Defense Ministry has been on heightened alert in the Gulf of Aden since a Houthi rebel group in Yemen seized a cargo ship operated by a Japanese firm in the Red Sea on November 19,” the NHK reported.

Tuesday, November 28, 2023

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

Ex-DOJ chief Guevarra: My acts in de Lima case all legal By Joel R. San Juan @jrsanjuan1573

OLICITOR General Menardo Guevarra on Monday maintained that his handling of the drug cases against former senator Leila de Lima during his term as justice secretary was consistent with the law. Guevarra made the statement in response to De Lima’s call for the Office of the Ombudsman to start its investigation to determine the administrative liability of Guevarra and former DOJ chief Vitaliano Aguirre II for the use of convicted felons to testify against her in the illegal drug charges. De Lima’s call came after the Court of Appeals recently issued a decision which reversed and set aside the Ombudsman’s decision dismissing her complaint against the two in relation to the government use of convicts to testify against her drug cases. De Lima said her two predecessors violated Section 10 of Republic Act 6981, or the Witness Protection, Security and Benefit Act when they used felons as witnesses against her. She said under that law, individuals convicted of any crime involving moral turpitude cannot be admitted to the government’s Witness Protection Program (WPP) and be made as prosecution witnesses. “I understand that the CA merely remanded the case to the Office of the Ombudsman. So, let’s wait for what the Office of the Ombudsman will do,” Guevarra said. “In any event, I am ready to

submit my comment of required. As Justice Secretary, all my acts had always been in accordance with the law,” he added. Guevarra served as DOJ chief from 2018 to 2022 under the administration of then president Rodrigo Duterte. On the other hand, Aguirre said he would just wait for the Ombudsman’s action on the CA ruling. “I have not been furnished a copy of her complaint since its filing. This is the first time I have been informed of such. I will just await the order from the Ombudsman to answer or comment on the said complaint,” Aguirre, who is now one of the commissioners of the National Police Commission, said. Aside from granting de Lima’s petition to reverse the Ombudsman’s decision in her case against Aguirre and Guevarra, the CA also ordered the Ombudsman to act on de Lima’s complaints again. The testimonies of high-profile inmates at the New Bilibid Prisons led to the filing of three drug cases against de Lima before the Muntinlupa City Regional Trial Court in 2017. Arrest warrants were issued against De Lima that led to her incarceration for more than six years. The Muntinlupa RTC has d ismissed t wo of t he t hree drug charges against the former senator. On November 13, De Lima was given temporary freedom after Muntinlupa RTC Branch 206 Presiding Judge Gener Gito allowed her to post bail in her remaining drug case.

DMW eyes ‘high-risk’ tag on some Red Sea areas to protect PHL sailors By Samuel P. Medenilla @sam_medenilla

OLLOWING the latest hijacking incident involving Filipino seafarers in the Red Sea during the weekend, the Department of Migrant Workers (DMW) said it is now studying the possibility of declaring certain areas in the Red Sea as highrisk zones. In a statement on Monday, the agency said it is now consulting employers and seafarers’ groups in the maritime sector before making a final decision on the matter. It noted it will issue further

advisories as necessary. Filipino seafarers may get additional compensation and the right to refuse sailing in designated high-risk zones. On Sunday, the DMW confirmed

that Filipino mariners were among the crew of an oil tanker, the M/V Central Park that US Naval Forces rescued from a hijacking attempt. See related story in A1. Citing a report from the US Naval Institute (USNI), DMW said the two Filipino crew members of the tanker are now safe and accounted for. DMW is now coordinating with the licensed manning and shipping agency of the concerned sailors to get a full report of the incident. DMW is also trying to reach out to families of the seafarers to give them an update on the status of their loved ones. “This is the second hijacking incident in as many weeks involving marine vessels with Filipino seafarers in their crew,” DMW noted. Last week, DMW also reported 17 Filipino seafarers were among the crew of a ship seized by Yemeni

@joveemarie

HE House of Representatives has endorsed for Senate approval the proposed Contraband Detection and Control System Act, which aims to eliminate excuses for jail guards, wardens, and custodial officers involved in the smuggling of contraband, such as mobile phones, illegal drugs, guns, knives, and more, within detention facilities nationwide. If enacted into law, Surigao del Norte Rep. Robert Ace Barbers said HB 6126, or the Contraband Detection and Control System Act, mandates all prison and detention facilities to implement extensive contraband interdiction procedures through the employment of modern detection devices, units, and technologies to cut the flow of prohibited objects or items inside all penal institutions. Barbers is chairman of the Justice committee. HB 6126 was approved by the lower chamber last week. “Instances of contraband discovery during routine sweeps, like ‘Oplan Galugad,’ often reveal various illegal items, including drugs, mobile phones, knives, firearms, and other contraband. Our prison guards frequently find excuses during such operations. This bill aims to put an end to that,” said Barbers. Citing the Bureau of Corrections’ “Oplan Galugad” in October 2022, which uncovered a significant amount of contraband in the New Bilibid Prison (NBP), Barbers emphasized the need for stringent measures. The operation seized thousands of cans of beer, shabu, and a variety of contraband goods. “The said operation also yielded a total of 66,241 various contraband goods, 7,512 liquors, P55,000 cash, 1142 communication devices, including computers, 1,314 deadly weapons, 1,019 cigarettes

or tobacco, 104 gambling materials, and 150 uncategorized contraband,” he said. Likewise, Barbers said the highly publicized investigation of Percy Lapid’s murder case has uncovered that, through the use of a cellular phone, an inmate in NBP was able to hire gunmen from outside the prison in order to kill the victim. Under HB 6126, the introduction or possession of dangerous drugs and deadly weapons in a prison facility may result in up to 40 years of imprisonment and a fine of P5 million. Other contraband offenses are punishable by imprisonment ranging from six years and one day to 12 years, along with a fine of P1 million. To combat corruption within correctional institutions, the bill imposes severe penalties on jail authorities found facilitating or assisting in the introduction or conveyance of prohibited items. This includes disqualification from holding public office and the forfeiture of all retirement benefits. Barbers said the proliferation of contraband in prison has remained a perennial problem, and its never-ending presence inside the country’s correctional facilities has now transformed our prison institutions into breeding grounds for continuing criminality. “The situation that we have right now in our correctional institution runs counter to the very foundations of our criminal justice system, which mandates punishment, reformation, and/or rehabilitation of offenders for their crimes,” he said. He said that it is an “open secret” in some of the country’s detention facilities that affluent detainees, particularly detained or convicted drug lords, can buy themselves a number of privileges, such as having cellular phones, that are not allowed under the law.

Houthi rebels in the Red Sea. The Houthis apparently mistook the British-flagged ship, operated by a Japanese company, as Israeliowned. The Houthi navy chief was subsequently reported to have visited all the 25 crew members, including the 17 OFWs, of the Galaxy Leader and took on a more conciliatory tone—in contrast to earlier supposed warnings by the Iran-backed Houthis they would punish anyone working for Israeli entities. In a television interview on Monday, DMW officer-in-charge Hans J. Cacdac said they are now coordinating with foreign governments, which can help in the release of the captured sailors. “The situation [of the Filipino sailors] is sensitive so we can be assured that efforts to save them are ongoing,” Cacdac said in Filipino.

Atienza asks Filipinos to remember Ninoy’s ideals

House endorses bill on tough sanctions vs jail contraband By Jovee Marie N. Dela Cruz

‘BAWAL MAG SHOOT’ A group of photographers—both professionals and hobbyists—along with online practitioners belonging to the group of Bawal Mag Shoot Dito (BMSD) founder Mel Cortez stage a Tigil Pitik photowalk at Arroceros Park in Manila on Monday, November 27, 2023. A “No Fees, No Shoot” policy implemented by the Manila Parks Development Authority in Manila for places in Intramuros, Jones Bridge and Arroceros Park, among others, is the subject of their protest. “Bawal Mag-shoot Dito: Only in the Philippines Mission” is meant to raise awareness on issues facing Filipino photographers, particularly those concerning accessibility and viability of shooting locations. ROY DOMINGO

Keep button cell batteries away from children–group By Jonathan L. Mayuga @jonlmayuga

UTTON cell batteries power household, office, school, and personal products. Curious children, however, see them like yummy little candies or chocolates and may decide to pick them up and swallow them without warning. Unfortunately, these button cell batteries pose choking and chemical risks that can endanger a child‘s health and life, the toxics waste watchdog EcoWaste Coalition (Ecowaste) said in a statement. The ingestion of batteries is among the top 10 leading causes of poisoning among admitted pediatric patients in 2022, according to the National Poison Management and Control Center (NPMCC). Button cell batteries are used in various products, including digital watches, games and toys, hair accessories, pocket calculators, remote controls, holiday decorations, hearing aids, and medical devices. Ecowaste reminded the general public to keep button cell batteries out of children’s sight and reach to

prevent them from accidentally putting these small round batteries in the mouth, as well as in the nose and ears. The group learned about the sale of cheap “made in China” lithium button cell batteries whose packaging can easily be accessed by children. The batteries bearing the names Da Vinci, Huan Qiu, Robust, and TMI are sold in blister packs at Presyong Divisoria Stores in Makati and Manila Cities. T he g roup conduc t e d t he pro du c t mon it or i n g on No vember 24 after the Government of France took measures against China-made button cell batteries that are not sold in child-resistant packaging and may therefore pose choking and chemical risks. Like the button cell batteries recalled or banned in France, each blister pack consists of a cardboard back to which is glued a plastic front with blisters for the batteries. As explained in the eight notifications published in the November 23 weekly report of Safety Gate, the European Union’s rapid alert system for dangerous non-food products, “the battery packaging

can easily be opened, making the button batteries accessible.” “A child could put the batteries in the mouth and choke or, if they are swallowed, suffer injuries to the digestive tract,” the notifications said. The French government ordered the recall of non-compliant button cell batteries from end users and the removal of their product listings by the online marketplace to protect children’s health. To p r e v e n t c h o k i n g a n d chemical burns due to the ingestion of button cell batteries, the EcoWaste Coalition urged consumers, especially parents, to be mindful of the following poisoning prevention tips: 1. Carefully read the product label and follow the safety instructions on battery use, storage, and disposal. 2. Ensure that button batteries in children’s products and household items are duly secured with a screw. 3. Store button batteries in their original packaging or in a childproof container. 4. Ensure that button batteries, old or new, are kept out of children’s sight and reach. 5. Do not allow children to handle and install button batteries and never let them play with them. 6. Properly dispose of spent batteries and not simply burn or throw them in the trash.

S Filipinos marked on November 27 the 91st birth anniversary of the late Senator Benigno “Ninoy” Aquino Jr., former deputy speaker and Buhay Rep. Lito Atienza has reminded the public of the indelible mark he left on the nation. “Today we remember Ninoy Aquino on what would have been his 91st birthday. Ninoy, as we knew him, was a true patriot. He was God-fearing, courageous, and loved his country—traits needed today by our politicians,” he said. “While in exile, he was aware of the threats to his life if he came home. But the patriot in him could not bear to stay away while his countrymen suffered. So he left his beloved family and came back,” he added. Atienza said Aquino was a man who sacrificed his life so that the Philippines could reclaim its democratic freedom. The former lawmaker said Filipinos should draw inspiration from the Aquino example as the country navigates the challenges that lie ahead, striving for a better and more just Philippines. “Let us all be grateful to this man who gave up his life so our country could regain our democratic freedom,” Atienza said. Jovee Marie N. Dela Cruz

CBCP airs call for Red Wednesday Campaign

HE Catholic Bishops’ Conference of the Philippines (CBCP) has called on all dioceses, archdioceses, and all the faithful to join them in the Red Wednesday campaign. The Red Wednesday scheduled on November 29 will help them collectively commemorate the persecution and murder of Christians worldwide, said CBCP President Bishop Pablo Virgilio David of Kalookan. “This is our annual remembrance of the suffering Church and persecuted Christians worldwide,” said David. It is only right for Christians to pray, remember, and pay tribute to those who were persecuted only because of religious beliefs, he added. The theme in this year’s Red Wednesday Campaign is “Embracing Persecuted, Oppressed and Christians in Need.” “This year’s theme is drawn from the pastoral direction of the Universal Church through the Synod on Synodality. ACN believes that the Local Church journeys with the persecuted and oppressed Christians in need and embraces their experiences,” said David. The “Evening Eucharistic Celebration for Persecuted Christians in the Philippines and Worldwide” will take place starting 6 p.m. at the Minor Basilica and Metropolitan Cathedral of the Immaculate Conception. The mass will be led by the CBCP secretary General Msgr. Bernardo Pantin. Patrick V. Miguel

Tuesday, November 28, 2023

Economy

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

Manila bans poultry imports from 2 US states By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippines has slapped a temporary ban on poultry products from two states in the United States of America due to bird flu outbreaks. Agriculture Secretary Francisco Tiu Laurel Jr. issued Memorandum Order (MO) 69 that authorized the temporary ban on the importation of domestic and wild birds and their products from the States of Minnesota and South Dakota, USA. The import ban covers all products and by-products which include

poultry meat, day-old chicks, eggs and semen, according to the agriculture department. Laurel issued the import ban following the confirmed outbreaks of H5N1 highly pathogenic avian influenza (HPAI) in the two US states recently. The outbreaks were reported by the US Department of Agriculture to the World Organisation for Animal Health following the confirmation by National Veterinary Services Laboratories, United States’s national laboratory. “The rapid spread of H5N1 Highly Pathogenic Avian Influenza in the United States of America in a short

period of time since its first laboratory detection necessitates a wider coverage of trade restrictions to prevent the entry of HPAI virus and protect the health of the local poultry population,” Laurel said. With the import ban in place, the Bureau of Animal Industry (BAI) has already suspended the processing, evaluation and issuance of sanitary and phytosanitary import clearances for the importation of the various poultry products and by-products from the two US states. In recent years, the Philippines saw the resurgence of bird flu domestically at a wider magnitude and scale.

Latest BAI report indicated that there are only two remaining active bird flu cases in the Philippines— one in a barangay in Tarlac City and another in a barangay in Candaba, Pampanga. Earlier this month, the national government allowed the commercial use of bird flu vaccines in domestic poultry to help in curbing the spread of bird flu nationwide and minimize economic losses incurred by raisers. (Related story: https://businessmirror.com.ph/2023/11/08/ phl-allows-commerc ial-u se-ofai-vaccine-for-domestic-poultryindustry/)

Romualdez tells retailers to follow suggested retail prices By Jovee Marie N. Dela Cruz @joveemarie

HE leader of the House of Representatives warned traders on Monday against exploiting the Christmas season to inflate prices. This, after Speaker Ferdinand Martin G. Romualdez, along with Deputy Majority Leader for Communications and ACT-CIS Partylist Rep. Erwin Tulfo, visited Farmers Plaza to ensure that the prices of essential goods, particularly during the Christmas season, adhere to the suggested retail prices (SRP). To ensure ample stocks of Christmas food products, Romualdez urged suppliers to increase the delivery of essential items to retailers, small traders, and market stallholders throughout the holiday season. “We want to make sure that traders do not take advantage of the holiday season to jack up prices of basic commodities. The Christmas season is meant to be a time of giving and compassion, and we want to make sure that prices of goods are affordable to a great majority of our people,” Romualdez said. “First and foremost, rice and other Noche Buena items should be accessible. Vegetables such as onions, garlic, tomatoes, cabbage, and others should

HOUSE Speaker Ferdinand Martin Romualdez and ACT-CIS Rep. Erwin Tulfo visited the Farmers Market in Araneta City, Quezon City, on Monday, November 27, 2023, to monitor the prices and supplies of essential food items and commodities. This initiative comes as a response to the positive shift reflected in the “Tugon ng Masa” survey results by OCTA, revealing a decrease in the number of Filipino families identifying as impoverished during the third quarter of 2023. NONOY LACZA

be within reach of our fellow countrymen. We urge retailers to adhere to the SRP,” he added. The speaker assured the public that the House of Representatives will use its oversight functions, emphasizing its role in combating inflation and safeguarding low commodity prices, to protect consumers from hoarding, price manipulation, and unjustified price hikes. “Our primary task here is to protect people’s welfare by providing them

with the most affordable goods in the market,” he said, adding that people should be protected from hoarding, price manipulation, and unreasonable price increases. “It is a reaffirmation of our commitment to ensuring fair pricing and protecting consumers’ interests by fighting hoarding and exorbitant prices,” Romualdez said. Tulfo echoed this sentiment, emphasizing the need to secure sufficient Christmas food product stocks for the

Oil firms to raise diesel, kerosene prices

MIXED round of fuel price adjustment takes effect this week, oil companies announced Monday. In separate advisories, oil firms said they will increase diesel by P0.30 per liter. The price of kerosene will also go up by P0.65 per liter. There will be no movement in gasoline prices.

Pilipinas Shell, Seaoil, PTT, Phoenix Petroleum, Unioil, Total, Petron, and Caltex will implement the price adjustment at 6 a.m. of Tuesday, November 28. Cleanfuel will implement its price adjustment at 4:01 p.m. Last week, oil companies implemented price rollbacks for gasoline,

diesel, and kerosene by P0.75, P0.65 and P0.60 per liter, respectively. These said price adjustments resulted in a year-to-date net increase of P12.30/liter for gasoline, P5.70/ liter for diesel and P1.09/liter for kerosene. Movements in the world oil market affect local pump prices. Oil

benefit of the Filipino people. “We will continue the all-out war against profiteers preying on hapless consumers,” Tulfo said. Moreover, Romua ldez war ned against the greed of traders exploiting supply and prices, referencing the House’s success in revealing those behind onion price manipulations. “Remember, the House, through the Committee on Agriculture and Food led by our dedicated and focused Chairman Mark Enverga, successfully unmasked the personalities involved in the hoarding and price manipulation of onions after concluding a four-month investigation,” he added. He s a id t he s e con g re s s ion a l hearings resulted in a drastic drop in onion prices from P700 to P160 per kilo. T he Spea ker a lso highlighted the House’s recent approval of a bill amending and expanding the AntiAgricultural Smuggling Act, aiming to classify the smuggling of rice and other agricultural products as “economic sabotage” and provide life imprisonment for violators. “The House will continue to pass similar legislative measures to help the agricultural sector and support the prosperity agenda of President Ferdinand ‘Bongbong’ Romualdez Marcos Jr.,” said Romualdez. firms adjust their prices every week to ref lect movements in the world oil market. DOE- Oil Industry Management Bureau Director Rodela Romero said this week’s price adjustment could still be attributed to the reduced production within OPEC + and increase in the United States’ crude oil inventories. She caut ioned motor ists to be prepa red a s oi l pr ices rem a i n vol at i le. Lenie Lectura

Anti-corruption and compliance technology

By: Henry J. Schumacher

T’S hard to read any media without running into a new story about different kinds of corruption, collusion, and rule breaking. Whether or not the stories we read are true, organizations caught up in them often lose credibility. Reputation isn’t the only thing to take a hit, the cost of litigation also.

With increased sensitivity to corruption and compliance violations, it’s never been more important for companies to protect themselves with the latest in compliance technology. I like to add that the implementation of the Data Privacy Act through the National Privacy Commission forces organization to employ Data Protection Officers (DPOs) and have Compliance Technology in place. The explosion in digital data, a hardly available talent pool of compliance professionals to draw from, including DPOs, and a more-complex risk ecosystem are presenting serious cost, resource and efficiency challenges for compliance. As businesses go global, many are confronted with complexities of international regulations and distinct cultures. As a result new technologies are emerging to help consolidate compliance functionality. In order to help realize a more transparent and fair business climate, companies and tech innovators will need to work closely together to change their industries. They can do so by investing in new technologies that make corruption more visible and easier to address.

One of the best ways to avoid these sorts of controversial mistakes is by evaluating where other companies, brands, and organizations have gone wrong in order to develop measures to prevent your company from doing the same. In the past reviewing compliance and corruption blunders was more difficult but as we all know with the advance of digital media and research tools, understanding the complexities of existing cases has never been easier. Many important legal and regulatory documents are still on paper or hosted locally on one person’s hard drive. In order to upgrade the accessibility of crucial documents processes and best practices, companies will need to adopt platforms that can streamline their compliance processes. In order for companies to modernize their compliance strategy, they’ll need to make their approach more agile. Streamlining corporate compliance efforts could eventually prevent organizations from becoming entangled in costly lawsuits and public scandals. As these technologies make solutions more accessible to all kinds of

organization, the desire for better solutions grows. Accenture recently asked executives to list the top 3 compliance challenges they think will have the highest impact on their business, to which “respondents most often cited fraud and financial crime risk [cited by 48 percent of respondents], business risk [47 percent] and cyber risk [45 percent].” It seems clear that there is much work to do not only in taking corporate ethics and compliance to the next level, but also in raising the moral consciousness of societies. The goal of compliance is to enable organizations to streamline their critical compliance data. If they do so, we can expect to see an increase in transparency, which will hopefully lead to less cases of corruption and save companies the costs that are associated with regulatory errors. If you need assistance to address the issues covering anti-corruption and compliance technology, let me know; I can get you in touch with experts to help you. I look forward to your comments; contact me at hjschumacher59@ gmail.com

T he landmark policy decision by the DA was hailed by industr y players and ex perts, noting that the use of bird f lu vaccines in domestic poultr y would help ensure the countr y’s food security, particularly for proteins, and deter the use of illegal vaccines. (Related story: https://businessmirror.com. ph/2023/11/09/government-avian-f lu-vaccine-approval-to-helpboost-phl-food-security-poultryindustry-players/) The country’s chicken meat imports last year rose by 1.57 percent to 411.069 million kilograms from 404.711 million kilograms in 2021,

BAI data showed. Figures from the attached agency of the DA indicated that the Philippines imported 102.686 million kg of chicken leg quarters last year and 51.717 million kg of chicken cuts. BAI data showed that Brazil was the country’s top meat supplier as it accounted for 28 percent of the total meat import volume last year. Brazil exported 384.095 million kg of meat products to the Philippines, bulk of which were chicken meat. Brazil was the country’s top supplier of chicken meat products at 235.256 million kilograms followed by the US at 122.931 million kg.

Power supply seen tightening on lack of new energy sources By Lenie Lectura @llectura

HE country’s power supply could be “tight” in the summer of 2024 amid higher demand and the lack of new power sources. “It’s still going to be tight because there is no new power plant except maybe the Excellent plant of San Miguel that’s scheduled to be completed by the end of next year. Its entry would even be in 2025,” said Manuel V. Pangilinan, chairman of the Manila Electric Co. (Meralco). Pangilinan was referring to the 1,750 megawatt (MW) LNG (liquefied natural gas) power plant of Excellent Energy Resources Inc. (EERI), a subsidiary of San Miguel Global Power, the power arm of conglomerate San Miguel Corp. Meralco is anticipating an increase in peak demand to 8,346 megawatts (MW) for this year from 8,111.02 MW in 2022. “This 2023, peak demand in Meralco’s system is expected to increase by 2.9 percent. As economic activity normalizes, peak demand is expected to grow annually by an average of 4.3 percent per year from 2022 to 2032,” the company said in a filing with the Department of Energy (DOE). Meralco now has over 7.6 million customers in its franchise area. “It’s always good to have surplus power. If you don’t have surplus capacity you will face bouts of tightness which we don’t want to see. As a distributor, we want to see good margins of supply to demand,” added

Pangilinan. Aboitiz Power Corp., for its part, said demand is also expected to grow, “maybe by 600 to 7000 megawatts.” “Although it’s El Niño, it’s still going to be tight especially during summer, but I think we will have ample supply,” said AboitizPower President Emmanuel Rubio. He was referring to the resumption of the operations of the Ilijan plant, the dispatch of some diesel plants, and new hydro plants, among others. “Ilijan is offering so I think they would really amp up supply…Maybe there will be times when diesel plants will be dispatched but it’s good that Ilijan is now running unlike in early 2022…In our case, the water levels in Magat are still below normal with the El Niño forecast. Hopefully, it will catch up until the end of the year,” added Rubio. The DOE is hopeful that the country’s power supply will be adequate in the months to come given recent positive developments in the energy sector. “We hope that this will remain stable not only this year, but with the incoming new power sources also in the next two to three years,” DOE Secretary Raphael Lotilla said. Among recent positive developments in the energy sector are the resumption of the Ilijan natural gas power plant of San Miguel in Batangas in supplying power to the grid, the energization of the National Grid Corp. of the Philippines’ Hermosa-San Jose 500-kiloVolt transmission line, and some new renewable energy facilities.

Group asks govt to declare Marinduque as mining-free zone By Jonathan L. Mayuga @jonlmayuga

H E M a r i n du q u e C o u n c i l for Environmental Concerns (MACEC) called on the national government to declare Marinduque a mining-free zone and remove the island province in the Mimaropa region from the list of priority mining areas. The group is opposing the proposal to have 1,343.74 hectares from 5 barangays in Mogpog, Marinduque declared as a Mineral Reserve Area and vowed to reject any proposed mining in Mogpog and other towns. Instead, the group is calling on the Department of Environment and Natural Resources to lead the rehabilitation of Mogpog and other affected communities on the island. “Mogpoguenos will never forget the destruction of the Maguila-guila Siltation Dam of Marcopper that brought about floods and caused the loss of property and livelihoods of the residents as well as the loss of lives of two innocent children,” Elizabeth Manggol, executive secretary of MACEC, said in a statement. Until now, the group alleged that the mining company has not admitted any culpability for the destruction and has instead put the blame

on nature. “Those affected were not even given compensation except for 500 pesos worth of assistance,” Manggol said. The Mogpog River has been declared dead due to the lack of rehabilitation, she said. “Thirty years have passed since the tragedy but still there is no justice among those affected.” She added that “Marcopper was not held accountable for the damages it caused.” “Marinduque can no longer be a mining area as its carrying capacity has been compromised and affected by previous mining activities,” she said. MACEC’s statement noted that apart from local resolutions, the Mimaropa Regional Development Council has also issued a resolution “favorably endorsing the initiative to declare the province of Marinduque as a mining-free zone.” “The people of Marinduque have suffered too much already from the ill effects of mining. The national government and the DENR must listen to the pleas of the residents and declare the province as a mining-free zone,” said Jaybee Garganera, national coordinator of the anti-mining group Alyansa Tigil Mina.

News BusinessMirror

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

MNLF sees lasting peace with amnesty declaration By Samuel P. Medenilla

@sam_medenilla

ALACAÑANG’S declaration of amnesty to rebels and insurgents is considered by the Moro National Liberation Front (MNLF) as the country’s chance to achieve lasting peace.

A statement issued by the Office of Deputy Speaker Ustadz Abdulkarim Tan Misuari read that extending amnesty to the members of the MNLF by issuing Proclamation 406, dated November 22, 2023, President Ferdinand R. Marcos Jr. “has displayed his genuine desire to heal the wounds

of the past and foster brotherhood.” Misuari lauded the initiative of the President that, according to him, “will help in the integration of former MNLF members so they can help in nation-building.” “By choosing amnesty, the President showcases his sincerity and foresight, recognizing that

dialogue and negotiation are keys to resolving conflicts with those who once stood against the government,” the member of the Bangsamoro Transition Authority Parliament said. Ustadz is the son of MNLF founder Nur Misuari. He was the vice-chairman of the MNLF before he served in the government. Under P roc l a m at ion 4 0 6, granted amnesty to MNLF members who have committed offenses punishable under the Revised Penal Code and special penal laws, among others, in furtherance of their political beliefs. The amnesty, however, doesn’t apply to those who have already been proscribed or those charged under Republic Act (RA) 9372 (Human Security Act of 2007) or the AntiTerrorism Act of 2020 (RA 11479). Also disqualified from availing of the amnesty are those who engaged

in kidnap for ransom, massacre, rape, terrorism, crimes committed against chastity as defined in the Revised Penal Code, as amended, crimes committed for personal ends, violation of RA No. 9165, or the Comprehensive Dangerous Drugs Act of 2002. The proclamation will also not cover those with grave violations of the Geneva Convention of 1949, and those identified by the United Nations as crimes that can never be the subject of amnesty such as genocide, crimes against humanity, war crimes, torture, enforced disappearances, and other gross violations of human rights are also not covered. Marcos said he decided to extend the amnesty of MNLF and other insurgents to “create a climate conducive for peace and reconciliation” in the country.

Tuesday, November 28, 2023

Century Properties bullish on growth prospects By VG Cabuag @villygc

ROPERTY developer Century Properties Group Inc. (CPG) said it expects to perform better next year as its affordable housing business continues to exhibit rapid growth. “This year is proving to be a very strong year for the for the company in the first nine months when we recorded revenues of close to P10 billion and net income of P1.3 billion. So we’re already we’re already reaching our pre-pandemic levels,” CPG President and CEO Marco R. Antonio said during a media briefing for the launch of the firm’s first hotel project, Novotel Suites Manila. The higher revenues came on the back of the steady rise in the contribution of CPG’s first-home residential developments segment amounting to P5.3 billion or 55 percent of total revenues, an increase of 28 percent from P4.2 billion in the comparative period of 2022. “Our outlook is actually cautiously optimistic. There are many reasons why we believe it’s going to be a good year. Our affordable housing business is growing very rapidly. As you probably are aware, we’ve

launched many projects,” he said. The company is relying on its horizontal projects as it is running out of vertical projects to build. “We’ve actually rolled out that platform quite aggressively. Mostly in Luzon, in the Calabarzon area, but, by the first quarter next year, we hope to launch our first project in the Visayas. So we’re, we’re already going to expand our geographic footprint,” Antonio said. For CPG’s commercial leasing business, he said the office sector has been challenged with Covid initially and then by the work-from-home trend. “With that said, I think our properties are performing above market in terms of occupancies. We don’t plan any new speculative office developments in the near future. We’re focusing our efforts into really filling up all of our current office and retail spaces,” Antonio said. “I think there’s a lot to be excited about the retail market. I think initially it was revenge spending, which I think you could also all see across the board, but specifically for us in Century City Mall, I think, the difficult period of Covid…we’ve seen already the positive inflection point where we’ve been able to drive up the occupancy for the mall significantly this year, which we plan to continue in next year.”

Group queries proposed split of Meralco franchise By Jovee Marie N. Dela Cruz

HINK tank Infrawatch PH expressed apprehensions regard ing proposa ls in Congress to split the franchise of the Manila Electric Co. (Meralco). Terry L. Ridon, Infrawatch PH convenor and former House energy committee member, raised concerns about the potential impact on regulatory certainty a nd foreig n i nvest ments, a s the justification for the split i s at t r ibuted to t he a l leged failure of the Energy Regulatory Commission (ERC) to re-compute the power distributor’s weighted average cost of capital (WACC). Ridon said “some legislators are giving reasons why foreign investors should opt out of the country,” while President Ferdinand R. Marcos Jr. and House Speaker Martin G. Romualdez “have been tirelessly joining international conferences to stimulate foreign investments in the Philippines.” “ The proposal to split the Mera lco franchise, which continues to subsist until 2028, sends a signal to investors that there is no regulatory certainty under this government and that it will change its rules to suit various interests,” he added. Ridon emphasized that the failure to recalculate the WACC since 2015 is unrelated to the proposal to split the franchise of the private distribution utility. “While we support periodic WACC re-computation, particularly if it ensures the least cost to consumers, this re-computation has no relevance to the call to split the Meralco franchise,” he said. Ridon added the failure to recompute the WACC is a default by the energy regulator, which should

undertake periodic WACC reviews. Addressing the issue of franchise revocation or subdivision, Ridon argued that it is only relevant if there is evidence that Meralco deliberately obstructed the ERC from performing WACC reviews. Absent such proof, he asserted, “there is absolutely no basis for Congress to even call for a splitting of the Meralco franchise.” Ridon said calls to subdivide the Meralco franchise only serve the interests of power generators, who will benefit as a result of the weakened market power of a larger distribution utility. “In negotiations with power supply contracts with generators, d i st r ibut ion ut i l it ies ac t a s advocates of the public interest in ensuring the least cost of power generat ion ,” he s a id . “With a split franchise, smaller distribution utilities lose the power of economies of scale in determining better pricing for generation costs.” Ridon then asked how this will ensure the promise of the least cost of power under the Electric Power Industry Reform Act of 2001? Ridon said the current size of Meralco is what has enabled it to provide the least cost of power to its consumers. “While Meralco is not without its faults, its massive customer base has been its greatest strength in negotiating cheaper power rates with power generators. In fact, its size has enabled it to provide the lowest power rates in the country,” he said. Ridon said legislators should instead focus on electric cooperatives and distribution utilities that have massively failed in their mandate to provide not only the least cost of electricity but also a reliable and stable energy supply.

Bill proposes to cap casket prices, funeral expenses

@joveemarie

S the cost of dying has become a burden akin to the challenges of living, the House Committee on Trade and Industry approved a measure aimed at ensuring access to affordable caskets and funeral services for grieving families. Upon the passage of House Bill (HB) 102 into law, Deputy Speaker Vincent Franco D. Frasco said the legislation is poised to offer social protections to the “most economically vulnerable segments of society.” Under HB 102 or the proposed “Affordable Casket Act,” all funeral establishments will be required to maintain the availability of decent

caskets that would cost not more than P20,000 (around $360.13). The scope of the bill was further expanded during the Committee deliberations with the P20,000 cap now to include not only caskets but also funeral expenses. Frasco said the harsh reality faced by many Filipinos, where the financial burden of dying mirrors the challenges of living. “In the Philippines, the cost of dying has become a burden akin to the challenges of living. Many

LAGUSNILAD TO REOPEN Laborers work overtime even during a holiday to finish the job at the Lagusnilad underpass in Manila. It will be reopened on Tuesday, November 28, following a 6-month rehabilitation, the Manila Public Information Office (MPIO) said last Monday, November 27. The underpass has been closed to traffic since May 2 this year to give way to the repairs of its concrete and pumping system. PHOTO BY NONIE REYES

Bong Go lauds success of APPF confab in PHL

ENATOR Christopher “Bong” Go commended the success of the 31st Annual Meeting of the Asia-Pacific Parliamentary Forum (APPF) held at the Philippine International Convention Center (PICC) in Pasay City from November 23 to November 26. Go, alongside his colleagues in the Senate, personally attended APPF’s opening ceremony. The event, with the theme “Resilient Partnerships for Peace, Prosperity, and Sustainability” marks the second time the Philippines has hosted the prestigious forum since sponsoring its inaugural meeting in 1994. The Senate, designated as the host for the event’s preparations, collaborated closely with the House of Representatives as co-host, to ensure the seamless execution of the annual meeting.

Filipinos are born in poverty, and unfortunately, they often pass away in similar circumstances,” the lawmaker said in his sponsorship speech. “With steep funeral and burial costs, one can only imagine the painful experience that griefstricken Filipino families go through when facing not only the loss of their loved ones, but also the financial burden brought about by high-costs funeral expenses,” Frasco added. The price of caskets ranges from P5,000 to P110,000, with the

T his year’s A PPF meeting brought together 273 delegates from 18 countries in the AsiaPacific region. Parliamentarians from Australia, Brunei Darussalam, Cambodia, Canada, Chile, China, Indonesia, Japan, Korea, Lao People’s Democratic Republic, Malaysia, Mexico, Micronesia, Papua New Guinea, Peru, Russian Federation, Thailand, and Vietnam joined their Filipino counterparts to discuss a broad spectrum of issues crucial to the region’s progress. Go lauded Senate President Miguel “Migz” Zubiri and House Speaker Martin Romualdez as cochairs for their collaborative efforts and commitment to fostering meaningful discussions during the APPF meeting. Healsoextendedheartfeltthanks to the organizers and participants

availability of lower priced caskets often limited and even unavailable in most funeral parlors. Funeral expenses further compound soaring costs of dying in the country. With Frasco’s “Affordable Caskets Act,” if there is no affordable casket available and the deceased is indigent or extremely poor as duly certified by a Barangay Chairman or a social worker, the funeral establishment will be obliged to offer a casket of any higher value, but the price to be paid will still not exceed P20,000 to

of the event, acknowledging their dedication and meticulous planning that contributed to the successful execution of the forum. The senator emphasized the significance of such forums in promoting diplomatic ties and understanding among nations in the Asia-Pacific region. He likewise underscored the need for continued dialogue and cooperation for the betterment of the region as a whole. “The successful outcome of the 31st APPF Annual Meeting is a testament to the collective commitment and hard work of everyone involved. I am confident that the experience can pave the way for continued collaboration and positive advancements in the region,” expressed Go. As one of the founding members of the APPF, the Philippines takes

include funeral expenses. Under the proposed measure, Funeral parlors found in violation will face fines ranging from P200,000 to P400,000, or the revocation of their business permits or related licenses. Being a former mayor of Liloan town in the Province of Cebu, Frasco said he had seen firsthand the financial burden a poor and indigent family would face after losing a loved one with mounting funeral expenses often leading to families not only suffering grief but also indebtedness.

pride in facilitating a platform for open dialogue and collaboration among parliamentarians to address common challenges and foster stronger ties among nations. T h e m e e t i n g ’s p r i m a r y focus is on forg ing resilient partnerships, recognizing the role parliamentarians play as representatives of the people in overcoming challenges related to peace, prosperity, and sustainability, particularly in these critical times. On the first day of the forum, Zubiri and Romualdez said several draft resolutions were presented to them. These resolutions cover a diverse range of topics, including combating transnational crimes, streng t hening parl iamentar y capacities to promote peace and stability, gender and sustainable development goals, women and leadership, education and culture, universal health care, and critical infrastructures. “Regulating the sale of caskets and funeral expenses will greatly relieve grief-stricken families of the added financial burden, and preserve the human dignity of our fellow Filipinos, both in life and in death,” added Frasco. During the House Committee hearing, attended by representatives and stakeholders from the funeral services industry, there was a unanimous agreement to expand the bill’s scope to include all funeral services, ensuring a comprehensive approach to addressing the financial challenges associated with end-oflife arrangements in the Philippines. Jovee Marie N. Dela Cruz

Tuesday, November 28, 2023

TheWorld BusinessMirror

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

Hamas releases third group of hostages as part of truce, and says it will seek to extend the deal By Wafaa Shurafa & Samy Magdy

The United Nations says the truce made it possible to scale up the delivery of food, water and medicine to the largest volume since the start of the war, but it calls the 160 to 200 trucks a day “hardly enough.” It was able to deliver fuel for the first time since the war began, and to reach areas in the north for the first time in a month. The Palestinian Red Crescent Society said 50 Egyptian aid trucks crossed through Israeli checkpoints to reach Gaza City and northern areas Sunday.

The Associated Press

EIR AL-BALAH, Gaza Strip— The fragile cease-fire between Israel and Hamas was back on track Sunday as the militants freed 17 more hostages, including 14 Israelis and the first American, in a third exchange under a four-day truce that the United States said it hoped would be extended. In turn, Israel released 39 Palestinian prisoners.

Most hostages were handed over directly to Israel, waving to a cheering crowd as they arrived at an air force base. Others left through Egypt. Israel’s army said one was airlifted to a hospital, and the director of Soroka Medical Center said Elma Avraham, 84, was in life-threatening condition as “a result of an extended period of time when an elderly woman was not taken care of as needed.” The youngest hostage released was Abigail Edan, a 4-year-old girl and dual Israeli-American citizen whose parents were killed in the Hamas attack that started the war on October 7. “What she endured was unthinkable,” US President Joe Biden said of the first American freed under the truce. He did not know her condition and did not provide updates on other American hostages. Biden said his goal was to extend the cease-fire deal as long as possible. In all, nine children ages 17 and younger were on the list, according to Israeli Prime Minister Benjamin Netanyahu’s office. Three more Thai nationals were released. Separately, Hamas said it released a Russian hostage “in response to the efforts of Russian President Vladimir Putin.” T he t h ree T h a i n at ion a l s were undergoing health checks at a medical center in Israel and brought the total number of Thai hostages released to 17, Thailand’s Foreign Ministry said. The ministry said it was pursuing efforts for

the safe release of the 15 remaining Thai hostages. Thais working in Israel are mostly employed as semi-skilled farm laborers, at wages considerably higher than those at they can earn at home. The Palestinian prisoners released were children and young men, ages 15-19, largely accused of public disorder, property damage and in some cases causing or threatening physical harm to Israeli officers by throwing stones and Molotov cocktails. Many were scooped up from protests and confrontations with troops. In turn, many Palestinians view prisoners held by Israel, including those implicated in attacks, as heroes resisting occupation. A fourth exchange is expected on Monday—the last day of the cease-fire during which a total of 50 hostages and 150 Palestinian prisoners are to be freed. Most are women and minors. International mediators led by the US, Egypt and Qatar were trying to extend the cease-fire that began Friday. “We can get all hostages back home. We have to keep pushing,” said two of Edan’s relatives, a great aunt and cousin, in a statement thanking mediators. Hamas for the first time said it would seek to extend the deal by looking to release a larger number of hostages. Netanyahu issued a statement saying he had spoken to Biden and reiterated his offer to extend the cease-fire by an additional day for every 10 hostages

Hamas commander killed

A GROUP of Israelis celebrate as a helicopter carrying hostages released from the Gaza Strip lands at the helipad of the Schneider Children’s Medical Center in Petah Tikva, Israel on Sunday+ November 26, 2023. The cease-fire between Israel and Hamas was back on track Sunday as the militants freed 17 more hostages, including 14 Israelis and the first American, in exchange for 39 Palestinian prisoners in a third set of releases under a four-day truce. AP/LEO CORREA

Hamas releases. But he said Israel would resume its offensive “with all of our might” once the truce expires. Ahead of the latest hostage release, Netanyahu donned body armor and visited the Gaza Strip, where he spoke with troops. “At the end of the day we will return every one,” he said of the hostages, adding that “we are continuing until the end, until victory. Nothing will stop us.” It was not clear where he went inside Gaza. This is the first significant pause in seven weeks of war, marked by the deadliest IsraeliPalestinian violence in decades. More than 13,300 Palestinians have been killed, roughly two thirds of them women and minors, according to the Health Ministry in Hamas-ruled Gaza, which does not differentiate between civilians and combatants. The war has claimed more than 1,200 Israelis, mostly civilians killed in the initial attack. In New York, hundreds of Jewish protesters and allies demanding a permanent cease-fire in Gaza shut down vehicle traffic on the Manhattan Bridge in both directions for several hours Sunday. A New York police spokesperson said one person was arrested for reckless endangerment and two others were issued summonses for disorderly conduct.

Life in captivity

HAMAS’ military wing released a video showing militants handing over the hostages to Red Cross workers and paramedics, with some of the balaclava-wearing fighters and hostages waving goodbye to each other. Families from the southern Israeli town of Kfar Aza embraced, cried, and applauded Sunday at the news that hostages from their town had arrived in Israel. More than 70 members of the kibbutz of around 700 people were killed and 18 were kidnapped. The freed hostages have mostly stayed out of the public eye. Hospitals said their physical condition has largely been good. Little is publicly known about the conditions of their captivity. Merav Raviv, whose three relatives were released on Friday, said they had been fed irregularly and lost weight. One reported eating mainly bread and rice and sleeping on a makeshift bed of chairs pushed together. Hostages sometimes had to wait for hours to use the bathroom, she said. Pressure from families has sharpened the dilemma facing Israel’s leaders, who seek to eliminate Hamas as a military and governing power. Hamas and other militant groups seized around 240 people during the incursion into southern Israel that ignited the war. Fifty-eight have been

released, one was freed by Israeli forces and two were found dead inside Gaza.

Aid to northern Gaza

THE pause has given some respite to Gaza’s 2.3 million people, still reeling from relentless Israeli bombardment that has driven three-quarters of the population from their homes and leveled residential areas. Rocket fire from Gaza militants into Israel also went silent. War-wear y Pa lestinians in northern Gaza, where the offensive has been focused, made their way through entire city blocks gutted by airstrikes. But those among the hundreds of thousands of Palestinians who fled the north have been turned back by Israeli troops while trying to return to check their homes. “ T hey open fire on anyone approaching from the south,” said R ami Hazarein, who f led Gaza Cit y. The Israeli military has ordered Palestinians not to return to the north or approach within a kilometer (around a half-mile) of the border fence. The Palestinian Red Crescent rescue service said Israeli forces opened fire Sunday on two farmers in central Gaza, killing one and wounding the other. An Israeli military spokesperson said they weren’t aware of the episode.

Hamas announced the death of Ahmed al-Ghandour, who was in charge of northern Gaza and a member of its top military council. He is the highest-ranking militant known to have been killed in the fighting. Israel’s military confirmed the death. Al-Ghandour had survived at least three Israeli attempts on his life and was involved in a crossborder attack in 2006 in which Palestinian militants captured an Israeli soldier, according to the Counter Extremism Project, an advocacy group based in Washington. Hamas said he was killed along with three other senior militants, including Ayman Siam, who Israel says was in charge of Hamas’ rocket-firing unit. The Israeli military mentioned both men in a November 16 statement, saying it had targeted an underground complex where Hamas leaders were hiding. The Israeli military claims to have killed thousands of militants, without providing evidence. The war has been accompanied by a surge in violence in the Israelioccupied West Bank. Palestinian health authorities said Sunday that five Palestinians were killed in an Israeli military raid in the West Bank city of Jenin that began the day before. The war toll in the West Bank is now 239. The Israeli army has conducted frequent raids and arrested hundreds of Palestinians since the start of the war, mostly people it suspects of being Hamas members. Magdy reported from Cairo. Isabel DeBre in Jerusalem and Tia Goldenberg in Tel Aviv, Israel, contributed to this report.

US Navy seizes tanker attackers; missiles fired from rebel-controlled Yemen follow By Jon Gambrell

The Associated Press

UBAI, United Arab Emirates—Armed assailants seized and later let go of a tanker linked to Israel off the coast of Yemen on Sunday before being apprehended by the United States Navy, officials said. Two ballistic missiles fired from Houthi-controlled Yemen then landed near a US warship aiding the tanker in the Gulf of Aden, raising the stakes amid a series of ship attacks linked to the Israel-Hamas war. Yemen’s internationally recognized government blamed the Iranian-backed Houthi rebels for the attack, though the rebels in control of the capital, Sanaa, did not acknowledge either the seizure or the missile attack. The attackers seized the Liberianflagged Central Park, managed by Zodiac Maritime, in the Gulf of Aden, the company, the US and British militaries and private intelligence firm Ambrey said. The US military’s Central Command said in a statement early Monday that its forces and allies, including the Arleigh Burke-class destroyer USS Mason, responded to the seizure and demanded the armed assailants release the tanker. “Subsequently, five armed individuals

debarked the ship and attempted to flee via their small boat,” Central Command said. “The Mason pursued the attackers resulting in their eventual surrender.” The Central Command did not identify the attackers, but said a missile launch from Houthi-controlled Yemen followed early Monday morning. “The missiles landed in the Gulf of Aden approximately 10 nautical miles (18.5 kilometers) from the ships,” the statement said. “The USS Mason … was concluding its response to the M/V Central Park distress call at the time of the missile launches. There was no damage or reported injuries from either vessel during this incident.” Early Monday morning, Zodiac said the vessel carrying phosphoric acid and its crew of 22 sailors from Bulgaria, Georgia, India, the Philippines, Russia, Turkey and Vietnam were unharmed. “We would like to thank the coalition forces who responded quickly, protecting assets in the area and upholding international maritime law,” the company said. Zodiac described the vessel as being owned by Clumvez Shipping Inc., though other records directly linked Zodiac as the owner. London-based Zodiac Maritime is part of Israeli billionaire Eyal Ofer’s Zodiac Group. British corporate records listed two

IN an undated photo released by Zodiac Maritime, the tanker Central Park is seen. Attackers seized the tanker linked to Israel off the coast of Aden, Yemen on Sunday, November 26, 2023, authorities said. While no group immediately claimed responsibility, it comes as at least two other maritime attacks in recent days have been linked to the Israel-Hamas war. ZODIAC MARITIME VIA AP

men with the last name Ofer as a current and former director of Clumvez Shipping, including Daniel Guy Ofer, who is also a director at Zodiac Maritime. Yemen’s internationally recognized government, which is based out of nearby Aden, blamed the rebels for the seizure in a statement carried by their state-run news agency. “The Yemeni government has renewed its denunciation of the acts of maritime piracy carried out by the terrorist Houthi militias with the support of the Iranian regime, the most recent of which was the hijacking of the Central Park,” the statement read. The attack happened in a part of the Gulf

of Aden that is in theory under the control of that government’s forces and is fairly distant from Houthi-controlled territory in the country. Somali pirates are not known to operate in that area. Zodiac Maritime has been targeted previously amid a wider yearslong shadow war between Iran and Israel. In 2021, a drone attack assessed by the US and other Western nations to have been carried out by Iran killed two crewmembers aboard Zodiac’s oil tanker Mercer Street off the coast of Oman. The British military’s United Kingdom Maritime Trade Operations, which provides warnings to sailors in the Middle East, had earlier issued a warning to sailors that

“two black-and-white craft carrying eight persons in military-style clothing” had been seen in the area. The UKMTO put the Central Park’s location over 60 kilometers (35 miles) south of Yemen’s coast, some 80 kilometers (50 miles) east of Djibouti and around 110 kilometers (70 miles) northeast of Somalia in the Gulf of Aden, a key shipping route. The Central Park seizure comes after a container ship, CMA CGM Symi, owned by another Israeli billionaire, came under attack Friday by a suspected Iranian drone in the Indian Ocean. Iran has not acknowledged carrying out the attack, nor did it respond to questions from The Associated Press about that assault. Both the Symi and the Central Park had been behaving as if they faced a threat in recent days. The ships had switched off their Automatic Identification System trackers, according to data from MarineTraffic.com analyzed by the AP. Ships are supposed to keep their AIS active for safety reasons, but crews will turn them off if it appears they might be targeted. In the Central Park’s case, the vessel had last transmitted four days ago after it left the Suez Canal heading south into the Red Sea. Global shipping had increasingly been

targeted as the Israel-Hamas war threatens to become a wider regional conflict—even as a truce has halted fighting and Hamas exchanges hostages for Palestinian prisoners held by Israel. Earlier in November, the Houthis seized a vehicle transport ship also linked to Israel in the Red Sea off Yemen. The rebels still hold the vessel off the port city of Hodeida. However, the Houthis had not directly targeted the Americans for some time, further raising the stakes in the growing maritime conflict. In 2016, the US launched Tomahawk cruise missiles that destroyed three coastal radar sites in Houthi-controlled territory to retaliate for missiles being fired at US Navy ships, including the USS Mason, at the time. Meanwhile on Sunday, the American aircraft carrier USS Eisenhower traveled through the Strait of Hormuz and entered the Persian Gulf, the US military said. The Eisenhower was accompanied by the guided-missile cruiser USS Philippine Sea, the guided-missile destroyers USS Gravely and the USS Stethem and the French frigate Languedoc. The Associated Press writer Tara Copp in Washington contributed to this report.

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Tuesday, November 28, 2023

South Korea, Japan and China agree to resume trilateral leaders’ summit, but sans specific date By Hyung-Jin Kim

The Associated Press

EOUL, South Korea—Meeting for the first time in about four years, the top diplomats from South Korea, Japan and China agreed Sunday to revive cooperation among the Asian neighbors and resume their leaders’ trilateral summit—but without a specific timing.

Closely linked economically and culturally with one another, the three countries together account for about 25 percent of the global gross domestic product. But efforts to boost cooperation have often hit a snag because of a mix of issues including historical disputes stemming from Japan’s wartime aggression and the strategic competition between China and the United States. “We three ministers agreed to restore and normalize three-nation cooperation at an early date,” South Korean Foreign Minister told reporters after his meeting with Japan’s Yoko Kamikawa and China’s Wang Yi in Busan, South Korea. Park said the three ministers affirmed an earlier agreement by lower-level officials to restart the

summit “at the earliest mutually convenient time” and agreed to expedite preparations for the meeting. Kamikawa separately said the ministers agreed to speed up their work to achieve the summit “at an early and appropriate timing.” The three also agreed to push for diverse cooperation projects in areas such as people-to-people exchange, trade, technology, public health, sustainable development and security, according to South Korean and Japanese statements. The lack of an agreement on the timing for the trilateral summit would suggest the top-level gathering won’t likely happen this year as South Korea, the chair of the next summit, had hoped, observers say. Still, Kamikawa said that a reactivation

CHINESE Foreign Minister Wang Yi, right, South Korean Foreign Minister Park Jin, center, and Japanese Foreign Minister Yoko Kamikawa pose for a photo prior to the trilateral foreign ministers’ meeting in Busan, South Korea on Sunday, November 26, 2023. AP/AHN YOUNG-JOON

of a trilateral diplomacy “is an important step toward achieving an upcoming Japan-China-South Korea summit.” Since they held their first stand-alone, trilateral summit in 2008, the leaders of the three countries were supposed to meet annually. Instead, the summit has been suspended since 2019. The meeting Sunday was also the first since 2019. South Korea and Japan are key US military allies, hosting a total of 80,000 American troops on their territories. Their recent push to beef up a trilateral security cooperation with the United States has angered China, which is extremely sensitive to any moves it perceives as seeking to contain its rise to dominance in Asia. But some observers say that

the fact that Chinese President Xi Jinping and President Joe Biden struck a conciliatory tone in their first face-to-face meeting in a year earlier this month would provide Seoul, Tokyo and Beijing with diplomatic rooms to maneuver to find ways to revive three-way cooperation. After her meeting with Wang on Saturday, Kamikawa said she renewed Japan’s demand that China remove its ban on seafood imports from Japan in response to Tokyo’s discharge of treated radioactive wastewater from its tsunami-hit nuclear power plant. Wang, for his part, said China opposed Japan’s “irresponsible action” of releasing the wastewater and called for an independent monitoring mechanism of the process, according to the Chinese Foreign Ministry.

Ties between South Korea and Japan deteriorated severely in past years due to issues originating from Japan’s 1910-1945 colonization of the Korean Peninsula. But their relations have warmed significantly in recent months as the two countries took a series of major steps to move beyond history wrangling and boost cooperation in the face of North Korea’s advancing nuclear program and other shared challenges. In a reminder of their difficult relations, however, a Seoul court earlier this week ordered Japan to financially compensate Koreans forced into sexual slavery by Japanese troops during the colonial period. During her meeting with Park earlier Sunday, Kamikawa called the court verdict “extremely regrettable” and urged South Korea to take appropriate steps to remedy the breaches of international law, according to Japan’s Consulate in Busan. South Korea’s Foreign Ministry said the ministers discussed the court ruling as well as ways to work together to reinvigorate three-way cooperation with China. The ministry also said that both strongly condemned the North’s spy satellite launch last week. Park also asked Wang for China to play a constructive role in persuading North Korea to halt provocations and take steps toward denuclearization, according to South Korea’s Foreign

Ministry. Wang described China as “a stabilizing force” in the region that has “always played and will continue to play a constructive role in easing the situation on the peninsula,” according to the Chinese Foreign Ministry. It said Wang called for stronger trade and economic ties between the two countries and criticized the “tendency to politicize economic issues.” North Korea’s growing arsenal of nuclear-capable missiles poses a major security threat to South Korea and Japan. But China, North Korea’s last major ally and biggest source of aid, is suspected of avoiding fully enforcing United Nations sanctions on North Korea and shipping covert assistance to the North to help its impoverished neighbor stay af loat and continue to ser ve as a bulwark against US inf luences on the Korean Peninsula. On Sunday, South Korea, Japan and the US held maritime drills involving the USS Carl Vinson aircraft carrier near the Korean Peninsula, their latest show of force against North Korea. North Korea typically views such US-involved military training as an invasion rehearsal.

The Associated Press writers Mari Yamaguchi in Tokyo, Japan and Simina Mistreanu in Taipei, Taiwan contributed to this report.

Alliance of Myanmar ethnic groups claims capture of trading gate at Chinese border By Grant Peck

The Associated Press

B POPE Francis appears on a giant monitor set up in St. Peter’s Square at The Vatican on Sunday, November 26, 2023, as he blesses the faithful gathered in the square for the traditional Angelus noon prayer. On Saturday, the Vatican said the pope, whose 87th birthday is next month, was taken to a Rome hospital to have a CT scan to rule out pulmonary complications following a light flu, and that the exam was negative. AP/ALESSANDRA TARANTINO

Pope Francis says he has lung inflammation but will go to Dubai for a climate conference By Frances D’emilio The Associated Press

ATICAN CITY—Pope Francis on Sunday revealed that he has a lung inflammation but will go later this week to Dubai to address the climate change conference. Francis skipped his weekly Sunday appearance at a window overlooking St. Peter’s Square, a day after the Vatican said he was suffering from a mild flu. Instead, Francis gave the traditional noon blessing in an appearance televised live from the chapel in the Vatican hotel where he lives. “Brothers and sisters, happy Sunday. Today I cannot appear at the window because I have this problem of inflammation of the lungs,’’ Francis said. The pontiff, who turns 87 on December 17, added that a priest, sitting beside him, would read out his day’s reflections for him. In those comments, Francis said that he was going to the United Arab Emirates for the COP28 gathering on climate change and that he would deliver his speech, as scheduled, on Saturday to the participants. “Besides war, our world is threatened by another great peril, that of climate change, which puts at risk life on Earth, especially for future generations,’’the pontiff said in the words read by the priest.

“I thank all who will accompany this voyage with prayer and with the commitment to take to heart the safeguarding of the common house,’’ the pontiff said, using his term for Earth. In the footage, it could be seen that the pope had a bandage on his right hand and what appeared to be a cannula. The Vatican didn’t immediately respond to a query from The Associated Press about whether he was receiving intravenous or some other treatment. Not immediately explained was the discrepancy between the pope saying he has lung inflammation and the Vatican saying a day earlier that Francis had a CT scan at a Rome hospital “to exclude the risk of pulmonary complications”and that the exam was negative. Earlier this year, Francis was hospitalized for three days for what he later said was pneumonia and what the Vatican described as a case of bronchitis necessitating treatment with intravenous antibiotics. This weekend has been very windy and unusually chilly for late autumn in Rome. The pontiff’s voice dipped low, and at times he seemed almost breathless in his brief introductory remarks explaining why he didn’t make the window appearance, and at the end when he added his usual request to“don’t forget to pray for me.”

A N G KO K— A n a l l i a n c e of armed ethnic minority groups that launched a surprise offensive last month against Myanmar’s military has seized a major trading gate on the country’s northeastern border with China, a spokesperson for one of the groups said Sunday. Le Kyar Win, the spokesperson of the Myanmar National Democratic Alliance Army, told The Associated Press that the KyinSan-Kyawt border gate, one of the five major trading gates in Muse township along the MyanmarChina border in northern Shan state, was seized on Saturday by the alliance forces. Muse hosts the 105-Mile Trade Zone and has the greatest volume of trade with China. It is the fourth border crossing seized by the alliance forces in a month of intense fighting. “We attacked the places controlled by the junta as our military targets,” Le Kyar Win said. Social media sites associated

with the Myanmar National Democratic Alliance Army displayed photos and video of what they said were its forces at the border gate. The claims couldn’t immediately be verified. The military government hasn’t publicly acknowledged the capture of the gate. Maj. Gen. Zaw Min Tun, spokesperson of the ruling military council, said in a statement phoned in to state television MRTV that there was fighting between the army and alliance groups near the 105-Mile Trade Zone, but didn’t give additional information. Kyin-San-Kyawt is the second of five border gates in Muse township that has come under the control of the alliance, along with two others elsewhere. Fighting has been raging in the region since the Arakan Army, the Myanmar National Democratic Alliance Army and the Ta’ang National Liberation Army, calling themselves the Three Brotherhood Alliance, launched a coordinated offensive on October 27. The government had acknowledged losing at least three towns,

and the fighting appears to have stopped almost all legal crossborder trade with China, a major economic disruption for Myanmar. It also has put pressure on the military government in its struggle against the armed pro-democracy forces that are challenging it in other parts of the country, where new attacks were carried out in the wake of the October 27 offensive. The pro-democracy group arose in opposition to the army’s February 2021 seizure of power from the elected government of Aung San Suu Kyi. The reported seizure of the Kyin-San-Kyawt border gate came the same day that China announced it would begin military exercises nearby on its side on the border. China exercises great influence in northern Shan state, especially where it is dominated by Myanmar’s Kokang minority, who are ethnic Chinese. The Myanmar National Democratic Alliance Army is an armed Kokang group, and it seeks to oust a rival faction from power by seizing the town of Laukkaing, which is the capital of what is officially

called the Kokang Self-Administered Zone. Laukkaing is notorious for hosting major organized criminal enterprises including cyberscam operations controlled by Chinese investors in collusion with local Myanmar warlords. Beijing is embarrassed by the large-scale criminality and has vowed to eradicate it. The Myanmar National Democratic Alliance Army has made common cause with Beijing by declaring elimination of the cyberscam operations to be one of its goals. With the alliance forces besieging Laukkaing, China has urged its nationals to depart for safety back to Chinese territory. But others in the town are also seeking to f lee, which was the apparent cause of a violent confrontation on Saturday. Residents of the area confirmed what was shown on videos widely circulated on social media—that Chinese police fired tear gas to drive away people who were sheltering close to the border fence on the eastern side of Laukkaing.

Christopher Luxon sworn in as New Zealand PM, says top priority is to improve economy By Nick Perry

The Associated Press

ELLINGTON, New Zealand—Christopher Luxon was sworn in as New Zealand’s prime minister on Monday and said his top priority was to improve the economy. The 53-year-old former businessman leads a conservative coalition after his National Party struck a deal Friday with two smaller parties following a general election last month. After the swearing-in ceremony, which was presided over by Governor-General Cindy Kiro, Luxon told reporters the job was an “awesome responsibility.”

He said he would hold his first Cabinet meeting Tuesday and look to quickly finalize a 100-day plan. He said he also planned a visit to Australia before Christmas Day. Luxon said he needed to get a Treasury briefing on the state of the government’s finances. “We are concerned and worried that it’s been a deteriorating picture for a number of months now,” Luxon said. Under the coalition agreement, Luxon has promised to deliver tax cuts and train 500 more police officers within two years. He has also promised less government bureaucracy, including a 6.5 percent cut to the public service.

Luxon said it would be up to ministry chief executives to figure out how to make the cuts, whether by stopping programs, not filling vacancies or laying off some workers. The new government also plans to repeal tobacco restrictions approved last year by the previous government, including requirements for low nicotine levels in cigarettes, fewer retailers and a lifetime ban for youth. Luxon said his government disagreed with parts of the policy, including concentrating distribution. He said smoking rates had been coming down for 30 years. “We will continue to make sure we have

good education programs and encourage people to take up vapes as a cessation tool,” Luxon said. But critics said the plan was a setback for public health and a win for the tobacco industry. Chris Hipkins, who officially resigned as the nation’s 41st prime minister early Monday, said he wished Luxon and his coalition partners well. He said the country had been through tough times but the economy was turning a corner. Hipkins, who held the top job for 10 months after Jacinda Ardern unexpectedly resigned in January, plans to remain in Parliament as opposition leader.

A8 Tuesday, November 28, 2023 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Creating a powerful anti-scam community

nline scams have become a global problem. The latest annual study by the Global Anti-Scam Alliance (GASA) and ScamAdviser paints a devastating picture of the worldwide onslaught of scams, highlighting an urgent need for vigilance. The Global State of Scams 2023 Report, which involved 49,459 people from 43 countries, showed a substantial 25.5 percent of citizens around the world lost money to scams or identity theft in the last 12 months, resulting in financial losses estimated at $1.026 trillion. Here’s an alarming sign that Internet scams are getting out of hand—scammers are using the United Nations to swindle people. This prompted the UN to issue a Fraud Alert: “The United Nations wishes to warn the public about the fraudulent activities being perpetrated purportedly in the name of the Organization, and/or its officials, through different fraud schemes. The United Nations does not charge a fee at any stage of its recruitment and procurement process. The UN does not request any information related to bank accounts or other private information. It does not offer prizes, awards, funds, certificates, automated teller machine [ATM] cards, compensation for Internet fraud, or scholarships, or conduct lotteries. It does not approve military vacations or pensions, or release packages in exchange for a fee.” The United Nations strongly recommends that the recipients of solicitations, such as those described above, exercise extreme caution in respect of such solicitations. Financial loss and identity theft could result from the transfer of money or personal information to those issuing such fraudulent correspondence. Victims of such scams may also report them to their local law enforcement authorities for appropriate action. Who gets scammed? We are all continuously being exposed to scams, according to GASA. Here’s the sad part: Worldwide, only 0.05 percent of all cybercrimes are prosecuted. The 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 Executive 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. (Read the BusinessMirror report, “PHL has highest shopping scam rate in Asia–report,” November 24, 2023). 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, South Korea, Malaysia, Hong Kong, Singapore, Vietnam, China, and Indonesia. The 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 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. He appealed to the public to report incidents of shopping scams and other cybercrimes by calling 1326. 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, romance scams, and charity scams. Unfortunately, the victims’ inability to recognize scams was a major factor contributing to their susceptibility, the report said. Other contributing factors include their quick response to the scammer’s demands, being enticed by offered incentives, and taking risks despite uncertainties. Nearly 90 percent of scam victims in Asia could not recoup their financial losses. The surge in online scams across the region highlights the urgent need for continuous public awareness campaigns and fraud prevention education to help arm the people against the ever-evolving scam tactics. It also underscores the urgent need for a coordinated response from all stakeholders—law enforcement, businesses, and the consumers—to create a powerful anti-scam community.

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THE Entrepreneur

he Philippines has one of the fastest-growing economies in Asia, judging from the 5.9-percent gross domestic product expansion it registered in the third quarter of the year. Sustaining this robust economic expansion through the next few years is now the challenge. Political stability is one major factor that will assure growth—and the Philippines has achieved that in the past two decades despite the political noises. The nation also managed to keep its macro-economic fundamentals sound as affirmed by several credit rating agencies and multilateral funding institutions like the World Bank. One factor that will keep our growth trajectory higher and keep pace with the progress of our Asian neighbors, in my opinion, is infrastructure spending. President Ferdinand Marcos Jr. early in his administration stressed the importance of big infrastructure projects and their positive impact on the economy. He announced infrastructure flagship projects amounting to about P8.7 trillion or $156.4 billion to leapfrog the Philippine economy. I don’t want to sound repetitive but we need to implement these infrastructure projects to improve the lot of many Filipinos.

Infrastructure projects like roads, airports, seaports and railways link supply chains and move goods and services across regional borders more efficiently. They connect our agricultural farmers to markets found mostly in urban centers, and open up the countryside to big-spending foreign tourists. Increased productions and services mean more jobs. Roads and airports will open new economic corridors and create additional business opportunities for property and mall developers. They will lead to the emergence of more small entrepreneurs, like operators of sari-sari stores and smaller transportation modes. The higher income of the countryside, in turn, will pave the way for improved services, such as healthcare and education and, of course, faster consumer spending. Infrastructure projects trim productivity constraints and raise competitiveness of business operations. They result in lower prices of goods and services—

One factor that will keep our growth trajectory higher and keep pace with the progress of our Asian neighbors, in my opinion, is infrastructure spending. President Ferdinand Marcos Jr. early in his administration stressed the importance of big infrastructure projects and their positive impact on the economy.

and reduce inflation. The implementation of infrastructure projects, however, is not always smooth sailing and the government must do its share to streamline the process beginning with the preparation stage. Just last week, the government made an effort to speed up the processing of documentary requirements for infrastructure flagship projects. The step is critical to simplify the requirements and clearances needed by implementing agencies for priority infrastructure projects. The Marcos administration appears to be on the right track in speeding up the construction of these projects. The processing period for Public-Private Partnership projects averaged just 40 days under the Marcos administration, or half of the prescribed maximum working-day processing period, per the report of the National Economic and Development Authority. The speedier processing allowed the government to approve five PPP projects, including the Ninoy Aquino International Airport, the TarlacPangasinan-La Union Expressway

The march of technology EV style

Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Another look at Philippine infrastructure

John Mangun

OUTSIDE THE BOX

T is probably just me, but I cannot wrap my head around a group calling itself “Just Stop Oil” promoting its cause and publicizing its protest activities on the “X” social media platform. It takes a colossal lack of self-awareness to post an “X” message using a Smartphone or computer through the Internet, which is all 100 percent dependent on crude oil.

“I could never kill an animal for food. I get my meat from the supermarket.” Non compos mentis. However, stupid thinking aside, humans are a remarkable life form. Whether the result of a spark of some alien DNA, the Hand of God, or an incredible coincidence of evolution, people are amazing. And it has to be more than simply opposable thumbs and relatively large and

complex brains. The Banaue Rice Terraces, a technological feat of both imagination and engineering, might be 2,000 years old. The Parthenon was dedicated to the goddess Athena during the fifth century BC. The earliest tincopper-alloy (bronze) artifact has been dated to 4650 BCE, in a Vinča culture site in Serbia. Was there an anti-mining, anti-smelting “Just Stop Bronze” movement back then?

Hoping to rile the anger of every socialist/government controlledeconomy fool, let me say this. The march of technology was driven by the mostly-free market. Copper was ultimately too soft for tools and was replaced with bronze alloy as a material for manufacturing everything from shovels to axes. Shipbuilding flourished with the use of bronze, enabling long-distance trade. And what is “trade”? Making money, lots of money. Ancient Greek cities, big and small, built temples to the gods because they were great tourist attractions. We see the same market-driven march of technology today. In 1908, Henry Ford introduced the massproduced Model T. By 1929, 60 percent of American families owned a car. In December 1992, the first cellphone text message was sent. In 2021, the number of mobile devices operating worldwide stood at almost 15 billion with 5.60 billion unique mobile phone users. But technology does not spread equally across the world. In 1949 the

Extension and the newly approved Dialysis Renal Center for the Baguio General Hospital and Medical Center. A further tweaking of the rules and regulations concerning infrastructure projects is still needed. To this end, Neda is improving the PPP code by strengthening the government’s PPP Program through the consolidation of all legal frameworks and the creation of a unified system that will further enhance private sector participation. The proposed PPP Code is now awaiting the signature of President Marcos that will hopefully address the fragmented legal frameworks for PPPs. One reform that I find helpful is the intent to uphold and retain local autonomy while providing mechanisms to ensure harmonized investment programming between local government units and the national government. I am sure that reforms in the PPP framework will convince more foreign investors to join the government’s infrastructure thrust, as pitched several times by President Marcos in his official foreign visits. I am also confident that with higher revenues and a responsible fiscal regime, the Philippines will not miss a step on its path to recovery and progress. The infrastructure projects, even if completed beyond the term of this administration, are our insurance for economic success. For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

commercial jingle was “See The USA In Your Chevrolet.” Yet even today “Motor Vehicles per 1,000 Population” is less than 100 in countries such as Jamaica, Indonesia, Egypt, India, and Pakistan. Compare that with Canada and Finland (790), New Zealand (884), and the US (908). You may be like me that had a Nokia 3210 before I had a household landline. While the government was still legislating a “Landline in Every Barangay,” the market had already moved to the new technology. T he government-mandated technology that we must now embrace is “Electric Vehicles,” achieved through taxpayer subsidies. Norway’s generous tax incentives and subsidies for electric vehicles and charging infrastructure have created the world’s most successful market for battery-powered autos. EV owners even paid 50 percent of the fee for public ferries, toll roads and parking facilities. Last year Norway eliminated incentives for purchases of new See “Mangun,” A9

www.news.businessmirror@gmail.com

Opinion

CREATE again?

‘Speaking With the Heart the Truth in Love’

BusinessMirror

Atty. Irwin C. Nidea Jr.

Tax law for business

REATE is just barely two years old but there is already clamor for its amendment. Why? Is it broken? Of particular interest is the provision that effectively killed the cross-border principle. For decades, any sale made to a company located in the special economic zone (registered business enterprise or RBE) is considered a sale made to another country. Thus, value added tax at zero-rate is automatically charged by the supplier to an RBE. In other words, generally, no VAT is passed on to an RBE if it is located in the special economic zone. CREATE has introduced a different rule. Now, for VAT to be zerorated, an RBE must prove that what it purchased is directly and exclusively used for its registered activity. If not, its purchases will be considered vatable. Why do RBEs want this repealed? RBEs find themselves trapped as some of their working capital is captured and transformed to input VAT. Remember, RBEs are only entitled to zero percent VAT for purchases that are directly and exclusively used for their registered activities. What happens to purchases that are not? Will it still be recovered? One view is that it can be refunded since purchases, although not directly and exclusively used for an RBE’s registered activity, may still be considered attributable to its export sales, which are considered zero-rated. On the other hand, the contrary view is when VAT was passed on by a supplier to an RBE, there was already a determination that the purchase would not be directly and exclusively used for an RBE’s registered activity. It follows therefore that the certification for VAT zero-rating was not secured. Consequently, the said purchase cannot also be considered attributable to an RBE’s zero-rated sales, which is a requirement for VAT to be refunded. There is no other recourse but for an RBE to write off the input VAT as an expense. A bill dubbed CREATE More wants to change the 2-year-old law and revive the cross-border doctrine. It provides that all sales to an RBE, regardless of its location, must be zero-rated. Why is there already a proposal to change a 2-year-old law, when it has barely walked? Many multinational companies that are in special economic zones have been promised a zeropercent VAT when they committed their money in the country. Unfortunately, some of these investors think that the government has reneged on this promise, and they feel short-changed. Even if they may claim a refund, it is a reality that they have to go through the eye of a needle before they see a dime. In the meantime, their input VAT accumulates while they see their working capital being eaten out. It also does not help when the law is

Mangun. . .

Continued from A8

EVs, triggering a 20 percent drop in private-car registrations. Interesting note as other nations reduce EV subsidies. The price of battery-grade lithium carbonate has crashed in the last 12 months. This downward pressure is attributed to oversupplied markets in Asia, primarily because the global adoption rate of electric vehicles has notably slowed amid high interest rates as the consumer decides what to buy. Since November 2022, the average price of batterygrade lithium carbonate in China plunged about 78 percent. The Philippines now has a tariff reduction on EVs and spare parts down to 0 percent. There is also the ‘EV Industry Development Act’ (EVIDA), a roadmap to include the development of charging stations and manufacturing of components. Furthermore, EVIDA mandates the government and companies meet the EV 5 percent quota on their ve-

If our leaders want our country to have a fighting chance in this increasingly competitive world, they must listen to the sentiments of the investors. Promises must not be broken, and laws must be clear. Our policymakers must also be in tune with what is happening in international tax. not clear when a claim for refund must be elevated in court. CREATE More hopes to leave no doubt as to when the 90-day period for the BIR to process a VAT refund claim ends. As of this moment, even the courts have issued conflicting decisions on this matter. Some decisions say that if the taxpayer is not able to secure a VAT refund within 90 days from filing the same, its claim for refund is deemed denied by inaction. It has 30 days to file an appeal in court. Some decisions, on the other hand, state that taxpayers must wait for the decision of the BIR before they can go to court. CREATE More hopes to leave no doubt by categorically stating that the BIR must decide within 90 days and its inaction during that period is considered a denial of the claim for refund, which entitles taxpayers to the right to go to court. If our leaders want our country to have a fighting chance in this increasingly competitive world, they must listen to the sentiments of the investors. Promises must not be broken, and laws must be clear. Our policymakers must also be in tune with what is happening in international tax. Here we are still talking about VAT when the rest of the world is already very much ahead of the curve in passing their Pillar 2 rules. The author is a senior partner of Du-Baladad and Associates Law Offices, a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at irwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.

hicle fleets. “Philippine EV Summit Shows Positive Developments, Predicts 6.6 million EVs On The Road By 2030.” However, “Electric Vehicle Association of the Philippines estimates show that for now until 2030, over half of the projected 6.6 million evehicles will still be two-wheeled vehicles. Based on this prediction, by 2030, electric tricycles may account for 25 percent of market share. This means that 15 percent will be shared by electric buses, commercial vehicles and equipment [10 percent] leaving about 5 percent for cars.” It makes perfect sense for twowheeled vehicles and tricycles as well as commercial buses, etc. to go electric based on initial cost and future maintenance. But do you really want to pay your taxes to subsidize the cost and infrastructure for my Cadillac Celestiq? E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Keynote Speech of His Eminence Jose F. Cardinal Advincula, D.D., Archbishop of Manila & CMMA Honorary Chairman at the 45th Catholic Mass Media Awards, November 23, 2023, at the Citystate Tower Hotel-Manila.

Y dear brothers and sisters in Christ, on the 45th edition of The Catholic Mass Media Awards let us reflect on the theme, “Speaking With the Heart the Truth in Love.” This is the core message of Pope Francis for the 57th World Day of Social Communications this year. To speak with the heart is to speak the truth in love. As media practitioners, you are categorically required to gather and broadcast the truth and not fake news or lies. But you must do so always in charity and in love. This does not mean sugarcoating or manipulating the facts to suit one’s narrative. This means that we try to “look at one another with compassion, welcoming our mutual frailties with respect rather than judging by hearsay and sowing discord and division.” We are living in a world inundated with suspicion and lack of trust in one another. Everybody has something to say against everybody. On social media, it is done for the views and for virality. In the big networks, for-profit and for what sells. Since we know from psychology that negative news is more appetizing than the positive ones, we focus more on the former than on the stories that are not so controversial. I have personally witnessed this in the recent Synod I attended in Rome. The participants inside the Synod knew the truth of the situation involving some Synod participants. But the media had a different version of it and focused more on the angle that

could elicit more reactions and comments. Personally, I was wondering how some media practitioners can write a very different version of the truth of a story. It also made me ask, “How do they gather their information and who will make the ultimate decision for the final form of their story? Is it the truth or some hidden interest? If truth-seeking and truth-telling are already difficult, how much more the communication of truth motivated by love and compassion? For the past 45 years, the CMMA has tried to encourage all media practitioners to produce truthful, inspiring, and moving contents for the benefit of media consum-

Tuesday, November 28, 2023 A9

ers. By giving awards to worthy projects and endeavors, CMMA has tried to do its part in pushing for a transformative and positive mass media landscape. But awards and rewards can only do so much. The mass media community must do its part in advocating for a fair, honest and diligent delivery of their messages. We are grateful for the technological advances in the mass and mediated communication platforms. Thanks to the digital media, most of us are given a chance to express our voices and create our own contents. Information is no longer the monopoly of the socalled gatekeepers of knowledge and propaganda. The downside, however, is the glaring and utter disregard for the truth and even basic human respect. Freedom of expression has become synonymous with a license to dehumanize and demonize the other. We must not allow ourselves to go down this path. The call of Pope Francis for communicating cordially or speaking with the heart is timely and necessary. He says: “Communicating in a cordial manner means that those who read or listen to us are led to welcome our participation in the joys, fears, hopes and suffering of the men and women of our time.” Cordial communication does not refer to superficial small talks but to the messages from and for the

heart that pierce the soul in the dynamics of human encounters. Communicating with the heart enables us to reach out to one another despite our defenses and excuses. Says Dan Burke, a Catholic author and evangelizer: “Love builds a bridge of which truth can pass.” Mass media practitioners are not asked to compromise the truth. You are being asked to be more human and hopefully Christian in the way you present your narratives and stories. Behind every screen, behind every keyboard is a human being who must not renounce his or her humanity whenever he or she hits the “enter” or the “send” button. When there is love and charity in the human heart, communicating the truth will not be as hard. The truth will still hurt and be painful. But love will give a passage to the truth, to be received and accepted in humility and hope. Congratulations to all of you, our dear media partners, finalists and winners of the 45th Catholic Mass Media Awards. We honor and recognize your hard work. We greatly appreciate your creativity and resourcefulness. We would like to affirm your great calling to speak with the heart the truth in love. God bless you always. May the Lord protect and strengthen you as you perform your duties and mission in life.

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. Fifth of a series Part III What is the status of a coast guard in general? What is the status of the CCG? What about the Vietnamese Coast Guard (VCG) and the PCG?

N the SCS Arbitration, the non-military vessels of China’s navy and coast guard were considered to have been engaging in military activities when they prevented a vessel of the Philippine Bureau of Fisheries from resupplying BRP Sierra Madre in Second Thomas Shoal. The military vessels of China were also in the vicinity. The Arbitral Tribunal cited the purpose of the Chinese vessels, which was to prevent the Philippines from asserting and protecting its territorial sovereignty over BRP Sierra Madre in a contested maritime zone.

The 2021 Coast Guard Law of the People’s Republic of China transferred supervision of the CCG from the Ministry of Land and Resources to the People’s Armed Police Force. At the same time, it placed the CCG under the disciplinary supervision of the Central Military Commission for certain offenses. It vested the CCG with both military and law enforcement functions, specifically patrolling China’s waters, defending its islands, reefs and artificial islands and designating maritime exclusion zones; as well as enforcing its laws, such as customs, marine resources, marine ecology and fisheries. Under their law, the CCG may

use non-lethal force to stop a violation of the law, although it may also issue a warning and employ a handheld weapon if the order to stop is not heeded. It may also use lethal seaborne and airborne weapons to counter terrorism or serious violence at sea. It is notable that use of lethal force by the CCG is not subject to the condition of self-defense or military necessity. Clearly, the nature of the CCG as a military force or a law enforcement force depends on the scope of the functions it is performing at any given moment, and on the level of force it may employ at that point. Its military functions is not conditioned upon the existence of war.

To summarize, the CCG and VCG have military functions even during peacetime. The PCG is a purely civilian law enforcement unit during peacetime.

Under the Ordinance on the Vietnam Coast Guard, the VCG is considered the “people’s armed force” under the management and administration of the Ministry of Defense. It is tasked to protect the country’s national sovereignty and jurisdiction not only in the internal and territorial waters but also in the CZ, EEZ and CS. It has authority to enforce in said areas laws and treaties relating to natural resources, environmental pollution, customs, piracy, terrorism, human trafficking and drug trade. The VCG has authority to stop a violation of the laws. If its order to stop is not heeded, it may use force to effect compliance by using weapons, including by opening fire in certain cases, such as to defend one’s self or others or prevent escape, provided that a prior warning has been issued. Similar to the CCG, use of lethal force by the VCG is not conditioned upon self-defense or necessity (as mere prevention of escape justifies lethal force). Moreover, the military function of the VCG of defending the sovereignty of Vietnam is not conditioned upon a declaration of war. Upon the other hand, our RA 9993 provides that the PCG shall be attached to the Department of Transportation and Communication (DOTC) during peacetime and to the Department of National Defense during wartime. It vested the

PCG with maritime law enforcement, safety and security functions, and does not mention the military functions that the PCG might perform following a declaration of war. In a separate instrument, namely a PCG Manual on the Rules on the Use of Force, the DOTC authorized that the PCG to use deadly force “under extreme necessity” in order to deal with “foreign registered vessels and their crew within the internal waters, archipelagic waters and territorial sea.” It may also be resorted to in the course of law enforcement in order to defend oneself and others. In both cases, prior warning is required. More importantly, the Manual provides that, within the Philippine CZ, the use of deadly force against a state actor is proscribed, except when the Operations Order (OPORD) provides otherwise. Within “non-contested areas in the exclusive economic zone” of the Philippines, use of deadly force is not countenanced even against vessel engaged in “hostile actors,” unless the OPORD provides otherwise. There is no guideline on use of force in contested areas, such as the TS of disputed rocks. The PCG is a civilian law enforcement force during peacetime. While it may transform into a military force upon a declaration of war, the rules governing its military activities have yet to be defined. To summarize, the CCG and VCG have military functions even during peacetime. The PCG is a purely civilian law enforcement unit during peacetime. To be continued

North Korea brings back weapons and troops to shut border posts By Shinhye Kang

orth Korea appears to have deployed soldiers and weapons to guard posts near the border that were shut in a 2018 deal with South Korea as tensions between the neighbors ratchet up in the wake of Pyongyang’s recent spy satellite launch. South Korean military officials have spotted activity near the posts inside the Demilitarized Zone since late last week, the Defense Ministry said in a statement Monday. Images provided by the ministry showed a handful of soldiers outside of small

posts inside the DMZ, positioning weapons. Seoul pledged to take corresponding measures, according the statement, hinting at a restoration of South Korean guard posts near the border. South Korea’s military also detected an increase in activity for North Korea’s coastal artillery, according to the statement. North Korea had detonated 10 of 11 guard posts inside the DMZ in the wake of a summit about five years ago between leader Kim Jong Un and then-South Korean President Moon Jae-in that led to an agreement to reduce tensions along the

heavily fortified DMZ dividing the peninsula. Current President Yoon Suk Yeol, a conservative, has been skeptical about the deal struck by his predecessor, who advocated rapprochement with Pyongyang. Yoon’s government last week suspended part of the 2018 agreement after North Korea put the spy satellite in orbit, with Seoul resuming reconnaissance flights near the border that were suspended under the agreement. North Korea then announced it intended to scrap the entire accord. After two failed tries this year,

Kim’s regime last week launched a rocket that put a spy satellite into orbit. While North Korea has hailed the latest mission as a success, there have been no indications from the outside world about whether the probe is actually operational. Although 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. Bloomberg

A10 Tuesday, November 28, 2023

ILO: WORK-RELATED ACCIDENTS, DISEASES CAUSE 3-M DEATHS By Patrick V. Miguel

EARLY three million workers die yearly caused by work-related accidents and diseases, according to the International Labour Organization (ILO) report, “A Call for Safer and Healthier Working Environments.” The data shows a total of 2.6 million workers have died due to work-related diseases—mostly circulator y diseases, malignant neoplasms, and respiratory diseases. Moreover, there are 330,000 cases of fatalities through accidents. “ The toll underscores the persistent challenges in safeguarding the health and safety of workers, globally,” said ILO in a statement. The data also shows “unequally distributed” deaths, indicating “significantly” higher cases of fatalities among male workers compared to females. In addition, the most hazardous sectors are in agriculture, construction, forestry and fishing, and manufacturing with 200,000 fatal injuries per year. This represents over 60 percent of all fatal occupational injuries. According to ILO, the Asia and the Pacific region has the highest

work-related mortality with 63 percent of the global total, but it is also because of the size of the region’s workforce. To address the issues on workrelated accidents and diseases, the ILO Governing Body has adopted the Global Strategy on Occupational Safety and Health for 2024-2030. A mong ILO’s st rateg y is primarily improving nationa l Occupationa l Safet y and Health (OSH) frameworks by enhancing governance, promoting reliable data, and building competency. Then, ILO would strengthen coordination, partnerships and investment in OSH at “national and global levels.” Lastly, ILO plans to enhance OSH management systems by “tailoring it to specific hazards, risks, sectors, and occupations,” and by also considering how working conditions affect the physical and mental health of workers. “The goal is to promote, respect and progressively realize the fundamental right to a safe and healthy working environment worldwide, in line with the ILO’s dedication to social justice and the promotion of decent work,” ILO stated.

Healthcare, contact centers, finance firms top job creators

By Andrea E. San Juan @andreasanjuan

HE IT and Business Process Association of the Philippines (Ibpap) said it is banking on healthcare, financial services and contact center sectors as it eyes a 7-percent growth in jobs for 2024. Ibpap President Jack Madrid told reporters on the sidelines of the Philippine Economic Zone Authority’s (Peza) Investors’ Night last week, “We added 130,000 jobs this year. That’s year-end additional jobs so the total will be 1.7 million.” The IT and Business Process Management (IT-BPM) industry is targeting to reach 1.7 million full-time employees (FTEs) and US$35.4 billion in revenue by the

end of 2023 The 130,000 new jobs this year, the Ibpap head said, is equivalent to 8.7 percent growth in headcount. Madrid explained that November and December are “highgrowth” months since employers hire more during the Christmas season. The Ibpap chief also reported that of the 1.1 additional jobs it aims to create by 2028, “So far we’ve done 300,000 so we have

800,000 to go.” The sectors that have contributed to the industry’s growth this year, Madrid said, are health care, banking and finance, and contact center. The same set of sectors is expected to drive the growth of the industry for 2024, he added. With the contact center accounting for 60 percent of the size of the IT-BPM industry, Madrid said the Philippines remains to be the “leading” cog in the sub-sector. He pointed out, “We don’t have a problem with demand. There’s a lot of demand for the Philippines,” adding, however, that the challenge still lies in the supply of more employees. In September 2023, Madrid expressed confidence that the industry is on track to reach 1.7 million FTEs by the end of the year despite it having “more demanding” job requirements for job seekers and graduates. “We started in 2023 with 1.57 million and I would say that we are

on track to touch 1.7 million by the end of 2023,” Madrid said in a televised interview in September. Based on the IT-BPM Roadmap 2028, the industry is eyeing to provide jobs to 2.5 million full-time employees by the end of 2028. With the industry’s goal of attaining the said employment target for the year, Madrid explained the issue on demand-supply talent gap that the IT-BPM currently faces. “The reason for the gap is that there really is a very big demand curve, that’s one. Second, the supply of employable talents in this increasingly competitive job market is not quite enough. And the second reason that I want to cite is that while we have almost 800,000 college graduates, there is a skills gap that has resulted in a job skills mismatch,” the IBPAP head earlier explained. (Full story here: https://businessmirror. com.ph /2023/09/21/it-bpmjobs-on-track-to-reach-1-7m-byyearend/)

So. Koreans top foreign visitor arrivals in Bohol By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

OUTH Koreans are helping drive the tourism rebound in Bohol, many of them arriving on scheduled and chartered flights at the Panglao International Airport (PIA). In an email to the BusinessMirror, Allan Santos, general manager of Bohol Beach Club, credited the ease of travel between Korea and Bohol, and within the province, as a reason for the rise in international arrivals. “Bohol has experienced a major increase from the Korean market this year due to the direct flights from Incheon and Busan. Convenience is also a strong consideration [by Koreans] since compared to other main destinations such as Boracay, wherein they would need to transfer twice by land (Kalibo to Caticlan, Boracay port to hotels) and once by boat (CaticlanBoracay), major resorts in Bohol are a mere 10-minute drive away. Good beaches [are also] a reason why they consider Bohol [as a leisure destination].” He added, Koreans “go for tours, water activities, and look for good eating places. They are not the type who stay in the resort and laze around the pool or beach for a whole day. Korean travelers to Bohol are more of families, couples and honeymooners.” As of October 1, Korean carriers that fly to PIA are Jeju Air, daily from Incheon to Panglao (ICNTAG); Air Busan, daily (ICN-TAG), and charter flights via Air Busan from Busan (PUS).

Total arrivals near 716K

DATA from the Bohol Tourism Office showed foreign tourists reached 227,532, accounting for some 32 percent of the 715,670 total visitor arrivals from January to November 21. South Koreans topped the list of major source markets at some 98,000, representing a 43-percent market share. In prepandemic 2019, total visitor arrivals in Bohol reached some 1.6 million, with foreign nationals

reaching 727,051, and Filipinos accounting for 854,853. Grand Benedicto, president of the Cebu-based Enrison Land Inc., owner and operator of BE Grand Resort-Bohol, disclosed that the company has a Korean partner, who markets the resort to Korean travelers. “We can safely and proudly say that we and our Korean partner brought the market to Bohol this year. The chartered flights are almost all our guests. The Jeju crew also stays with us.” BE Grand Resort, which recently won as Best Luxury Hideaway Villa, Best Luxury Villa in AsiaWorld Luxury Hotel, and Best Luxury Villa Resort in the Philippines at the World Luxury Hotel Awards 2023, hosts families and couples from South Korea. “[They go] for the usual activities—tours, diving, and beach. Some are starting to look for golf, which Bohol, unfortunately, does not have,” said Benedicto.

Social media drives tour choices

FOR his part, Leeds Trompeta, general manager of Amorita Resort, said Koreans are among the top foreign tourists of the resort. “The market has shifted from the package tour program to a more free and easy experience. The younger market—who can now converse well in English—like to make their own itineraries and explore the island based on what they see other young Koreans post on social media.” He added, a growing market for Bohol these days is “free diving, which is putting the destination on the international map of must-dive places in the world.” Amorita Resort was recognized as Best Luxury Seaside Resort in Asia, and Best Luxury Family Beach Resort and Luxury Family Hotel in the Philippines from the World Luxury Hotel Awards 2023. Santos and Trompeta both reported surprisingly high occupancy levels at their respective resorts. “We have several travel agent partners, but there is a noticeable increase in direct online bookings” said Trompeta. “Bohol has certainly bounced back from the pandemic,” added Santos, with revenge tourism pushing arrivals.

FAIR DEAL ON EGGS An egg vendor arranges a variety of fresh eggs for sale in Blumentritt, Manila. To address concerns about fair practices and to ensure transparency, the Egg Council of the Philippines has recommended the sale of eggs by the kilo rather than individually. This shift aims to prevent retailers from manipulating prices by misrepresenting the sizes of the eggs. ROY DOMINGO

Freed OFW Hamas hostage leaves hospital By Malou Talosig-Bartolome @maloutalosig

FTER a series of medical tests following his release from Hamas captivity, Filipino caregiver Gelienor “Jimmy” Pacheco was given a clean bill of health by Israeli doctors. Staff at the Shamir Medical Center lined up at the corridor as Pacheco passed by. The hospital staff applauded him and chanted his name, “Jimmy! Jimmy! Jimmy!” Pacheco appeared shy as he walked down the aisle, shaking hands with a few of those who cheered him on last Sunday. The 49-year old native of Ilocos Norte is now staying in a hotel and will be repatriated to Manila before Christmas, the Philippine Embassy in Tel-Aviv said. Pacheco was one of the first batch of Hamas hostages who were released as part of the prisoner exchange and truce agreement between Israel and Hamas. Immediately after arrival in Israel, he was taken to a hospital to undergo a series of tests. Philippine Ambassador Pedro Laylo Jr. and Foreign Minister Eli Cohen visited him at the hospital.

PHOTO COURTESY: PHILIPPINE EMBASSY IN ISRAEL

The Filipino caregiver lost 10 kilos during his 49-day ordeal in Gaza Strip where he and other hostages were taken after the October 7 surprise attacks by the Hamas in southern Israel. Apart from his weight loss, the Israeli hospital said he is in good health. The Embassy shared that Pacheco attributed to his strong faith in God his having endured the ordeal.

“[K]aya lang ako buhay dahil sa Panginoon. Kahit nung unang araw pa lang na nakuha ako iniisip ko talaga ang pamilya ko. Habang nandun ako, ang gusto ko lang mabuhay para sa pamilya ko [I am only alive by the grace of God. From the first day I was seized, I thought of my family. I wanted to live for my family],” the Embassy quoted Pacheco as saying. The Embassy also asked Pacheco if fellow Filipino, Noralyn Bobadilla—believed to have been taken hostage as well—was with him, a source said. Pacheco said he did not see any other Filipino during his captivity but stressed that hostages were divided into groups and he was not able see all the reported 240 hostages taken by Hamas, a DFA official added. Bobadilla was declared missing after the October 7 attacks. The Israel government could not ascertain if she was indeed taken as hostage. But after one month of searching in kibbutzim in southern Israel, Tel-Aviv is now assuming she is a hostage. Israel has placed a gag order on freed hostages as to the details with regard to their stay in Gaza Strip, as there are still hostages being held there, and premature revelations may affect efforts to free them.

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, November 28, 2023

‘Flexible office occupancy surges in PHL’

he Executive Centre (TEC), Asia’s flexible workspace provider, said it has achieved “significant growth” in the Philippines and other Southeast Asian markets this year as demand for flexible offices continues to rise. The company caters to more than 47,000 members in 33 cities across Asia-Pacific and the Middle East. Due to strong demand, TEC said it has

added four new centers in Southeast Asia this year. TEC said it will open a new center with 490 workstations from

the 45th to 47th floors at Singapore Land Tower in January 2024 to meet the region’s requirements for flexible seating, meeting and event spaces. “We have done exceptionally well particularly in Singapore with a city average occupancy of 95 percent in 2023, at the same time, we are seeing robust demand for our upcoming new center at Singapore Land Tower on Levels 45 to 47,” Yvonne Lim, TEC’s managing director of Southeast Asia, said. “TEC’s expansions are largely driven by client’s requirement and the inter-city network within SEA

continue to look strong with clients having multiple presence with TEC SEA network.” Last January, Capital Square, a Grade A office building, opened in Singapore with 430 workstations. Pacific Century Place, which has 268 workstations, was launched in Jakarta last April. Meanwhile, Friendship Tower was unveiled in Ho Chi Minh City last July. It has a total inventory of 125 workstations. The latest addition is Ayala Triangle Gardens Tower 2 which opened just last month with 358 workstations. The opening of these sites has

Tariff hikes ease MPIC units access to bank loans—exec By VG Cabuag @villygc

etro Pacific Investments Corp. (MPIC) said the government’s approval of its units’ petitions for tariff rate increases has made it easier for them to tap loans for their projects. With the approvals, company officials said the banks “have started to open,” and have offered additional financing facilities to bankroll projects. In the company’s tollways business, Metro Pacific Tollways Corp. CFO Christopher Lizo said the company’s tariff adjustment is delayed by just one cycle, from the previous three cycles. “So in 2023, we got seven tollway petitions approved. And we have implemented those approved petitions,” Lizo told reporters in a recent interview. “So in fairness to the current government, they have been approving the petitions as we file them. We have filed a petition for an adjustment for 2023. We expect that this will be approved, but from an implementation timing perspective, because we’re still catching up with what we have lost for the past six years, it’s also impractical to implement (the tariff hikes) all at the same time.” For Light Rail Management Corp. (LRMC), the operator of LRT 1 and 2, the company’s tariff adjustment is late by just one cycle, according to company CEO Juan

Alfonso. He said LRMC has secured its tariff adjustment last August. “The tariffs have fallen behind them. We have another tariff increase that is actually scheduled based on our concession agreement for 2024. And then also, the completion of the Cavite extension also allows us to get an increase in 2024,” he said. “You know, tariff judgments allow the operator to continue to make improvements to invest in operation and maintenance to keep the system safe. Unlike other concessions, we don’t have an automatic inflation adjustment or a foreign currency adjustment. So these increases are very important for us in the railways.” Ramoncito Fernandez, Maynilad Water Services Inc. president, meanwhile, said that the water concession was also granted a tariff increase last January. Maynilad is the West Zone concessionaire. “The first tranche was already granted to us last January 2023. The next one is for January of 2024, and so on. So in January, we are expecting a tariff increase of roughly 16 percent.”

Megaworld confident of winning case vs Datem

egaworld Corp. has expressed confidence that it will win a legal battle against construction firm Datem Inc. “The court’s order lifting the Writ of Preliminary Attachment (WPA) in favor of Megaworld paves the way for the unraveling of the truth. Datem has the burden of proving its ridiculous claims,” the company said in a statement. “Megaworld is confident that in due time and with a fair trial, justice will prevail in its favor. This is just a start of our victory in defending our company’s integrity.” The Quezon City Regional Trial Court last week has ordered Megaworld Corp. to set aside P873.32 million as a counterbond to cover the potential obligation claimed by construction firm Datem Inc. “Finding the counterbond to be sufficient security for the payment of claims in judgment sought by plaintiff, the Writ of Preliminary Attachment issued on 15 November 2023 is hereby immediately discharged,” Judge Rochelle Yvette D. Galano of Branch 105, Quezon City Regional Trial Court, said in an order dated November 24. Datem has filed a lawsuit to force Megaworld to honor a 2022 mutual agreement, in which the property developer committed to pay P873.324 million for the contractor’s finished work. It accused Megaworld of moving the deadlines by introducing new and additional deductions to be charged against Datem, which were not previously discussed in the mutual agreement. Datem was able to get a court order to freeze some of Megaworld’s assets, which the court has lifted with the posting of the counterbond. VG Cabuag

He said the tariff increases are needed for the high-capital spending requirements of the company to improve its service. “As we speak, climate change has really been driving a lot of changes in our service capability. Our raw water has been really very variable and also our NRW [nonrevenue water] plans have already been hit by the pandemic because we were not repairing anything during the pandemic because the lockdown really prevented us from coming in,” he said. “Even our sewerage projects were stopped, because of the concession review. No one was lending to us during the concession review. So, this catch-up is a must-have if the Filipinos or Metro Manila will continue to be experiencing service improvements.” June Cheryl Cabal-Revilla, MPIC’s chief finance officer, said the approval of the tariff adjustments allow the company to “operationalize” the public service that the private sector is doing on behalf of the government as a regulated business operator. “And if we only stand back, all the things that we’re doing now are used to be government run. And because there are many complaints in terms of quality and servicing the department, it had to be privatized, and thus we are all here. We’re all on the same side of providing good public service to everybody,” she said.

added 1,181 workstations across the four key markets in the region this year, up 33 percent from 2022. TEC said these sites have seen high demand and occupancy rates of over 90 percent across multiple markets in the region this year. As of September, TEC’s centers in Manila are leading its portfolio in terms of tenancy at 98 percent, followed by Singapore at 95 percent, Ho Chi Minh City at 91 percent, and Jakarta at 81 percent. The Philippine office market is constantly driven by the information technology-business process management (IT-BPM), with Metro Manila as the top destination of

choice by industry players worldwide, according to Leechiu Property Consultants. At present, office stock nationwide stands at 18.1 million square meters, of which 82 percent are in Metro Manila. Of the figure, 81 percent or 14.6 million sq m have already been leased. Vacancy rate is at 19 percent or 3.4 million sq m, with most of the available space in newly completed buildings. Bonifacio Global City and Makati City remain the preferred destination for office operations, as these areas recorded the lowest vacancy rates at 9 percent and 13 percent, respectively. Roderick L. Abad

Companies BusinessMirror

Tuesday, November 28, 2023

Globe: Jump in 9-mo. data traffic lifts mobile revenues

By Lorenz S. Marasigan

@lorenzmarasigan

lobe Telecom Inc. said Monday its mobile business posted a “strong performance” in January to September due to the “consistent surge in mobile data usage.” Darius Delgado, Head of Consumer Mobile Business at Globe, said Globe recorded a 3-percent increase in mobile revenues to P83.2 billion as of end-September from P80.6 billion the year prior. With this, Globe’s total mobile revenues now constitute 69 percent of the overall consolidated service revenues, with a “robust mobile customer base” of 54.7 million post-SIM registration during the period. Globe’s mobile data revenues “reached an unprecedented record high” of P67 billion, a 7-percent increase from P62.5 billion, fu-

eled by “a significant surge” in mobile data traffic to 4,360 petabytes. Currently, mobile data comprises 81 percent of Globe’s total mobile revenues, a climb from 78 percent in the previous year. “We are now seeing higher quality acquisitions who are genuine intenders seeking to utilize our services for extended durations. This is evident in the increased reload and activity rates of new acquisitions compared to the period before the SIM registration initiative,” Delgado said. “While we maintain confidentiality over specific numbers, it’s clear that our current acquisitions are maintaining levels similar to those seen prior to the implementation of SIM registration.” He added that Globe a lso obser ved a n increase in its Average Revenue Per User (ARPU) for mobile, notably within t he pre pa id a nd T M brands, following the SIM registration mandate.

This government requirement led to the deactivation of about 30 million SIMs, “predominantly consisting of inactive users.” Delgado sa id t he “ref i ned ARPU now more accurately reflects the higher quality of the company’s subscriber base.” Globe said its 9-month profits plunged by more than a quarter despite posting all-time high consolidated service revenues due to higher depreciation costs and a non-operate charge versus last year. The company said in a statement that its net income during the period dropped by 27 percent

MUTUAL FUNDS

“due to the increased depreciation expense as well as this period’s non-operating charges versus last year’s non-operating income which included the partial sale of Globe’s data center business.” “Excluding this one-time gain, normalized net income would have been P14.8 billion, or down by 11 percent compared to the previous year,” the company said. It closed the period ending September with all-time high consolidated revenues of P121.1 billion, up by 3 percent from a year prior “despite the extended macroeconomic headwinds faced by the industry.”

November 24, 2023

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 203.81 -1.32% -3.84% -3.65% -1.08% -2.26% ATRAM Alpha Opportunity Fund, Inc. -a 1.4086 4.55% 2.71% 0.89% 1.46% 4.79% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8132 -2.32% -3.85% -5.84% -2.83% -3.49% Climbs Share Capital Equity Investment Fund Corp. -a 0.6661 -1.96% -6.14% -5.33% n.a -4.75% First Metro Consumer Fund, Inc. -a 0.6274 -5.91% -5.84% -4.98% n.a -3.27% First Metro Save and Learn Equity Fund, Inc. -a 4.4844 -2.68% -3.37% -2.58% -0.75% -3.56% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6683 -4.04% -4.71% n.a n.a -4.68% MBG Equity Investment Fund, Inc. -a 84.37 10.68% -3.75% -5.28% n.a 12.02% PAMI Equity Index Fund, Inc. -a 41.4878 -3.14% -4.17% -2.88% n.a -3.94% Philam Strategic Growth Fund, Inc. -a 432.58 -1.65% -4.26% -2.9% -1.05% -2.66% Philequity Dividend Yield Fund, Inc. -a 1.1554 -1.84% -0.41% -1.23% n.a -1.68% Philequity Fund, Inc. -a 32.6687 -1.18% -2.06% -1.82% 0.93% -1.88% Philequity MSCI Philippine Index Fund, Inc. -a 0.8327 -1% -3.35% n.a n.a -1.9% Philequity PSE Index Fund, Inc. -a 4.3612 -2.14% -3.29% -2.03% 0.68% -2.99% Philippine Stock Index Fund Corp. -a 725.74 -2.21% -3.45% -2.1% 0.63% -3.1% Soldivo Strategic Growth Fund, Inc. -a 0.6561 -1.52% -3.39% -4.76% n.a -2.67% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2437 -2.78% -3.81% -4.06% -1.11% -3.84% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.823 -2.57% -3.76% -2.41% n.a -3.39% United Fund, Inc. -a 3.0269 -2.07% -3.12% -2.38% -0.05% -2.17% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0213 -2.56% n.a n.a n.a -3.3% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,20.9942 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a 0.9853 -4.41% -2.72% n.a n.a -5.84% Philippine Stock Index Fund Corp. -a 880.76 -2.35% n.a n.a n.a -3.16% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c98.509 -1.65% -3.12% -1.79% n.a -2.58% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.8146 -1.96% -11.14% -2.92% -1.82% -4.39% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5888 9.31% -0.12% 6.32% n.a 11.57% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.4599 -1.72% -4.13% -2.22% -1.9% -1.67% ATRAM Philippine Balanced Fund, Inc. -a 2.1416 5.04% -2.03% -0.3% 0.06% 1.72% First Metro Save and Learn Balanced Fund, Inc. -a 2.4428 -1.84% -2.48% -0.26% -1.1% -2.5% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1858 -2.82% -2.31% n.a n.a -3.98% NCM Mutual Fund of the Phils., Inc. -a 1.8918 0.32% -1.35% 0.8% 1.01% 0.25% PAMI Horizon Fund, Inc. -a 3.4629 1.2% -3.04% -0.01% 0.12% 0.67% Philam Fund, Inc. -a 15.1792 0.29% -3.69% -0.58% -0.19% 0.26% Solidaritas Fund, Inc. -a 1.9879 0.43% -1.82% -0.45% 0.82% 0.07% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3215 0.58% -2.51% -1.63% -0.52% -0.24% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8746 1.09% -0.6% -0.97% n.a -0.49% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.924 2.16% -3.4% n.a n.a 0.96% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8187 -0.32% -5.02% n.a n.a -2.02% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7972 -1.41% -5.33% n.a n.a -3.08% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03197 0.35% -6.56% -1.67% -0.17% -1.33% PAMI Asia Balanced Fund, Inc. -b $0.8843 3.26% -7.51% -1.09% -1.38% 5.27% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0949 5.33% -1.84% 3.59% 2.68% 6.47% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $0.9928 1.98% -4.46% 0.41% n.a 2.18% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 388.8 3.29% 1.69% 2.57% 2.12% 2.85% ATRAM Corporate Bond Fund, Inc. -a 1.9011 1.6% 0.06% 0.61% -0.1% 1.4% Cocolife Fixed Income Fund, Inc. -a 3.2986 2.49% 0.92% 2.22% 3.72% 2.8% Ekklesia Mutual Fund, Inc. -a 2.2583 4.61% -0.49% 1.22% 1.15% 3.34% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.434 1.93% -0.23% 2% 1.07% 1.79% Philam Bond Fund, Inc. -a 4.2225 1.86% -2.99% 1.69% 0.42% 1.99% Philam Managed Income Fund, Inc. -a 1.3633 3.41% 1.18% 2.98% 1.7% 3.32% Philequity Peso Bond Fund, Inc. -a 3.9888 4.23% 0.06% 2.76% 1.29% 3.1% Soldivo Bond Fund, Inc. -a 1.0444 2.87% 0.23% 3.32% n.a 2.73% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2742 4.63% 0.82% 3.51% 1.81% 4.08% Sun Life Prosperity GS Fund, Inc. -a 1.75 3.83% 0.05% 2.73% 1.21% 3.2% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $491.03 2.64% 0.61% 1.91% 2.46% 2.27% ALFM Euro Bond Fund, Inc. -a Є212.02 1.54% -1% -0.03% 0.73% 1.12% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0198 0.48% -6.95% -1.9% -0.05% 1.03% 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 $0.8382 -1.87% -8.42% -3.92% -3.3% -6.87% Philam Dollar Bond Fund, Inc. -a $2.1994 3.26% -4.49% 0.59% 1.49% 0.89% Philequity Dollar Income Fund, Inc. -a $0.0607411 1.94% -0.73% 1.32% 1.56% 1.74% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.658 -1.05% -6.17% -1.51% 0.07% -2.33% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.38 2.48% 1.74% 2.54% 2.02% 2.35% First Metro Save and Learn Money Market Fund, Inc. -a 1.1045 3.15% 1.8% n.a n.a 2.88% Sun Life Prosperity Peso Starter Fund, Inc. -a 1.3714 2.72% 1.95% 2.46% 1.98% 2.47% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.1 3.98% n.a n.a n.a 3.61% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0929 2.31% 1.3% 1.51% n.a 2.22% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 41.6749 -6.03% n.a n.a n.a -2.35% Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3949 9.09% 8.83% n.a n.a 13.21% Sun Life Prosperity World Income Fund, Inc. -a,1 0.966 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 $0.7757 -3.3% -7.18% n.a n.a -1.81% 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.”

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

November 24, 2023

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

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

112,547,184 76,646 88,934,877 4,946,345 816,816 33,428,064.50 2,362,895 201,006 2,220,113.50 710,775 31,903,244.50 937,316.50 84,800 4,129,960 8,280 13,450 6,100 118,400 17,100 6,320

22,248,670 -10,563,225 -3,013,845 -16,236,648.50 -18,440 1,934,950 -16,567,835 -397,697 17,100 -

INDUSTRIAL ACEN CORP 4.91 4.93 4.96 5.04 4.91 4.91 16,468,000 81,578,520 ALSONS CONS 0.54 0.59 0.59 0.59 0.59 0.59 1,000 590 ALTERNERGY HLDG 0.76 0.77 0.76 0.78 0.75 0.77 4,409,000 3,351,080 ABOITIZ POWER 36.35 36.4 36.5 36.7 36.3 36.4 1,489,600 54,440,180 RASLAG 1.18 1.21 1.22 1.22 1.19 1.21 357,000 428,630 BASIC ENERGY 0.177 0.186 0.184 0.186 0.182 0.186 830,000 152,940 FIRST GEN 17.94 18 18.12 18.12 17.92 17.94 100,100 1,802,410 FIRST PHIL HLDG 60 63 61 63 59 63 910 56,410 MERALCO 369.6 370.6 371.6 371.6 368.6 370.6 103,800 38,455,998 MANILA WATER 18.04 18.1 17.42 18.12 17.4 18.04 7,296,200 128,581,664 PETRON 3.35 3.36 3.35 3.38 3.35 3.35 640,000 2,145,030 PETROENERGY 4.46 4.6 4.31 4.6 4.31 4.6 32,000 145,850 PHX PETROLEUM 5.09 5.1 5.1 5.1 5.1 5.1 15,300 78,030 REPOWER ENERGY 6.51 6.74 6.6 6.74 6.51 6.74 30,000 196,256 SYNERGY GRID 6.11 6.17 6.1 6.18 6.05 6.17 244,400 1,496,547 SHELL PILIPINAS 11.92 11.98 12 12 11.9 11.98 30,600 364,420 SPC POWER 7.5 7.79 7.45 7.6 7.45 7.6 16,900 126,983 AGRINURTURE 1.08 1.1 1 1.11 1 1.08 1,772,000 1,877,120 AXELUM 1.98 2 1.96 2 1.91 2 275,000 537,060 CENTURY FOOD 30.4 30.75 30.8 30.9 30.35 30.4 905,500 27,823,180 DEL MONTE 7.1 7.49 7.2 7.51 7.02 7.1 15,000 107,528 DNL INDUS 6.08 6.12 6.06 6.14 6.04 6.12 274,100 1,670,281 EMPERADOR 20.8 20.85 20.75 21 20.75 20.85 161,700 3,370,430 SMC FOODANDBEV 49.25 50 49.25 50 48.95 50 114,800 5,699,795 FIGARO COFFEE 0.63 0.64 0.64 0.64 0.63 0.64 595,000 379,640 FRUITAS HLDG 1.02 1.03 1.06 1.07 1.02 1.02 11,215,000 11,574,850 GINEBRA 166.5 168.5 168.5 168.5 168.5 168.5 100 16,850 JOLLIBEE 238 238.4 238.8 240.4 236 238.4 1,098,840 261,615,944 KEEPERS HLDG 1.47 1.5 1.5 1.5 1.46 1.5 578,000 846,670 LIBERTY FLOUR 11.58 16 16 16 16 16 100 1,600 MAXS GROUP 3.55 3.6 3.69 3.69 3.52 3.55 245,000 873,600 MONDE NISSIN 8.33 8.35 8.48 8.48 8.33 8.35 1,894,900 15,842,927 SHAKEYS PIZZA 9.27 9.36 9.37 9.37 9.36 9.36 1,900 17,786 ROXAS AND CO 0.49 0.51 0.49 0.49 0.49 0.49 13,000 6,370 RFM CORP 2.99 3 3 3 2.99 3 41,000 122,910 ROXAS HLDG 0.51 0.58 0.51 0.58 0.51 0.58 4,000 2,110 SWIFT FOODS 0.055 0.059 0.06 0.06 0.058 0.058 210,000 12,400 UNIV ROBINA 121.1 121.2 121 121.7 118.5 121.1 517,810 62,663,540 VITARICH 0.5 0.52 0.5 0.52 0.5 0.52 17,000 8,520 CEMEX HLDG 0.79 0.8 0.83 0.84 0.79 0.8 1,091,000 874,800 EC VULCAN CORP 0.81 0.82 0.81 0.84 0.81 0.82 7,189,000 5,924,920 EEI CORP 5.81 5.87 5.89 5.89 5.81 5.87 175,600 1,024,350 MEGAWIDE 3.05 3.07 3.09 3.09 3.05 3.08 123,000 377,680 PHINMA 19.1 20.4 20 20 20 20 12,300 246,000 CROWN ASIA 1.53 1.56 1.52 1.52 1.52 1.52 1,000 1,520 LMG CORP 2.13 2.45 2.47 2.47 2.45 2.45 28,000 68,960 MABUHAY VINYL 5.7 5.9 5.76 5.97 5.74 5.94 4,700 27,396 PRYCE CORP 5.2 5.3 5.3 5.3 5.2 5.3 202,200 1,051,660 CONCEPCION 13.52 14.48 13.52 14.48 13.5 14.48 1,000 13,806 GREENERGY 0.265 0.27 0.275 0.275 0.265 0.27 46,190,000 12,555,400 INTEGRATED MICR 3.42 3.49 3.49 3.49 3.49 3.49 5,000 17,450 IONICS 1.08 1.1 1.1 1.11 1.08 1.08 393,000 430,520 PANASONIC 4.58 4.88 4.87 4.87 4.87 4.87 1,000 4,870 SFA SEMICON 1.97 2.12 2.12 2.13 2.12 2.13 326,000 692,370 CIRTEK HLDG 1.69 1.72 1.68 1.73 1.68 1.7 178,000 303,200

-21,295,780 -1,030,280 -9,759,045 -529,216 6,300 18,799,380 -101,751,674 -3,350 -78,030 -6,780 -392,174 -53,620 -5,937,550 -502,015 -2,123,240 -4,621,475 306,560 42,389,252 -487,990 -2,310,136 -113,940 -580 -6,743,837 -2,420 17,470 18,300 -46,000 -1,350 -1,890,000 0 -110,000 -108,630 210,800

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 LOPEZ HLDG LT GROUP PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP WELLEX INDUS

132 7.11 103.4 30.1 8.43 51.95 8.7 18.4 51.1 23 70 58.85 1.38 2.76 0.56 2.69 0.6 0.36 171 0.79

1.01 652 48.4 10.18 11.3 0.38 4.59 9.26 5.1 560 3.3 38.45 4.6 4.3 8.88 1.12 2.83 3 0.9 832 106.4 0.25

132.1 7.3 103.6 30.5 8.56 52 8.75 18.44 55.95 23.5 70.8 59 1.39 2.77 0.69 2.91 0.63 0.39 175 0.81

1.03 652.5 48.65 10.2 11.32 0.385 4.62 9.3 5.2 562 3.35 38.5 5.47 4.36 8.89 1.2 2.85 3.1 0.95 834 106.9 0.275

131.5 7.07 103.8 30.4 8.6 51.95 8.65 18.44 55.95 23 70.1 58.6 1.39 2.77 0.69 2.69 0.61 0.37 171 0.79

1.03 648 48.6 10.32 11.3 0.38 4.53 9.26 5.2 563 3.3 38.4 5.48 4.36 9 1.25 2.89 3 0.9 830 107 0.25

132.7 7.44 104.8 30.5 8.69 52.25 8.7 18.46 55.95 23.75 70.5 59 1.4 2.77 0.69 2.69 0.61 0.37 171 0.79

1.04 652 48.7 10.36 11.32 0.38 4.62 9.32 5.2 567 3.3 38.6 5.48 4.36 9 1.25 2.89 3 0.95 834.5 107 0.25

131.5 7.07 103.1 30.3 8.4 51.9 8.65 18.44 50.2 23 69.95 58.5 1.39 2.76 0.69 2.69 0.61 0.37 171 0.79

1.01 644 48.3 10.2 11.3 0.38 4.53 9.25 5.2 557.5 3.3 37.95 5.48 4.36 8.85 1.2 2.86 3 0.88 825.5 106.3 0.25

132.1 7.3 103.4 30.5 8.4 51.95 8.7 18.44 50.75 23.75 70 59 1.39 2.76 0.69 2.69 0.61 0.37 171 0.79

1.02 652 48.65 10.2 11.3 0.38 4.62 9.3 5.2 560 3.3 38.45 5.48 4.36 8.89 1.2 2.86 3 0.95 834 106.9 0.25

851,810 10,800 858,930 162,300 96,400 643,140 271,600 10,900 44,060 30,900 455,600 15,930 61,000 1,491,000 12,000 5,000 10,000 320,000 100 8,000

496,000 140,550 316,300 752,600 8,900 1,600,000 1,345,000 697,100 100 134,970 8,000 907,900 100 21,000 2,714,000 21,000 81,000 9,000 1,331,000 151,050 208,540 50,000

506,940 91,386,360 15,382,900 7,696,464 100,662 608,000 6,185,000 6,481,302 520 75,576,405 26,400 34,878,740 548 91,560 24,134,889 25,750 233,670 27,000 1,197,930 125,673,340 22,274,957 12,500

PROPERTY ARTHALAND CORP 0.415 0.44 0.445 0.445 0.44 0.44 140,000 61,850 AYALA LAND 29.9 29.95 29.65 29.9 29.6 29.9 3,814,200 113,720,915 AYALA LAND LOG 1.56 1.58 1.67 1.67 1.55 1.56 1,808,000 2,828,350 ARANETA PROP 0.98 1.02 0.99 1.03 0.98 1.02 625,000 617,700 AREIT RT 29.2 29.3 29.3 29.6 29.2 29.2 5,045,400 147,785,890 A BROWN 0.63 0.67 0.67 0.67 0.64 0.64 302,000 196,480 CITYLAND DEVT 0.71 0.72 0.71 0.71 0.71 0.71 29,000 20,590 CROWN EQUITIES 0.065 0.069 0.06 0.069 0.06 0.069 70,000 4,390 CEB LANDMASTERS 2.48 2.49 2.5 2.5 2.46 2.49 48,000 119,220 CENTURY PROP 0.3 0.305 0.305 0.305 0.3 0.3 170,000 51,350 CITICORE RT 2.53 2.54 2.54 2.54 2.52 2.54 484,000 1,224,960 DOUBLEDRAGON 7.92 7.99 8.15 8.15 7.78 7.98 352,600 2,790,070 DDMP RT 1.21 1.22 1.22 1.22 1.21 1.22 1,084,000 1,316,090 DM WENCESLAO 6.25 6.29 6.29 6.29 6.29 6.29 500 3,145 EMPIRE EAST 0.133 0.135 0.135 0.138 0.133 0.133 1,470,000 198,700 EVER GOTESCO 0.285 0.295 0.295 0.295 0.295 0.295 330,000 97,350 FILINVEST RT 2.85 2.86 2.81 2.85 2.79 2.85 463,000 1,311,400 FILINVEST LAND 0.56 0.57 0.55 0.57 0.54 0.56 2,113,000 1,175,100 8990 HLDG 8.3 8.52 8.53 8.54 8.3 8.3 3,100 26,214 GOLDEN MV 802 847 770 847 770 847 57,150 46,156,825 PHIL INFRADEV 0.5 0.56 0.52 0.58 0.52 0.56 132,000 73,130 CITY AND LAND 0.76 0.77 0.77 0.77 0.77 0.77 1,000 770 MEGAWORLD 2.02 2.03 2.03 2.05 2.02 2.02 8,609,000 17,454,110 MRC ALLIED 1.45 1.5 1.49 1.5 1.47 1.5 23,000 34,130 MREIT RT 11.98 12 11.96 12.1 11.9 12 170,900 2,047,372 OMICO CORP 0.228 0.23 0.228 0.228 0.228 0.228 10,000 2,280 PHIL ESTATES 0.33 0.34 0.34 0.34 0.34 0.34 10,000 3,400 PREMIERE RT 1.51 1.54 1.55 1.55 1.51 1.51 39,000 59,920 PRIMEX CORP 2.41 2.55 2.4 2.55 2.4 2.55 19,000 45,750 RL COMM RT 4.64 4.67 4.62 4.69 4.6 4.67 845,000 3,913,090 ROBINSONS LAND 14.6 14.66 14.7 14.7 14.58 14.6 169,300 2,473,200 PHIL REALTY 0.15 0.156 0.153 0.156 0.15 0.15 520,000 78,400 SHANG PROP 3.61 3.63 3.58 3.61 3.58 3.61 55,000 197,350 STA LUCIA LAND 2.96 3.27 3.27 3.27 3.24 3.27 586,000 1,901,220 SM PRIME HLDG 32.45 32.5 31.95 32.7 31.75 32.5 6,593,200 213,117,485 VISTAMALLS 2.32 2.44 2.32 2.32 2.32 2.32 27,000 62,640 SUNTRUST RESORT 0.75 0.78 0.75 0.78 0.75 0.78 15,000 11,280 VISTA LAND 1.64 1.65 1.66 1.66 1.63 1.65 73,000 120,330 VISTAREIT RT 1.68 1.69 1.69 1.69 1.68 1.68 284,000 477,320 SERVICES ABS CBN 3.53 3.75 3.59 3.75 3.59 3.75 220,000 810,620 GMA NETWORK 8.29 8.3 8.29 8.3 8.25 8.3 320,800 2,662,005 GLOBE TELECOM 1,739 1,740 1,744 1,760 1,740 1,740 16,505 28,764,330 PLDT 1,251 1,261 1,258 1,261 1,233 1,261 39,185 48,956,005 APOLLO GLOBAL 0.015 0.016 0.015 0.016 0.015 0.016 115,300,000 1,730,000 CONVERGE 8.16 8.2 8.21 8.24 8.15 8.2 4,280,800 35,075,609 DFNN INC 3.03 3.07 3.03 3.03 3.03 3.03 1,000 3,030 DITO CME HLDG 2.4 2.41 2.35 2.42 2.35 2.4 7,896,000 18,827,690 IMPERIAL 0.58 0.75 0.58 0.58 0.58 0.58 1,000 580 NOW CORP 1.16 1.17 1.18 1.18 1.15 1.16 640,000 743,020 TRANSPACIFIC BR 0.133 0.136 0.136 0.139 0.136 0.136 130,000 17,750 ASIAN TERMINALS 15.34 15.92 15.96 15.96 15.96 15.96 1,100 17,556 CHELSEA 1.27 1.28 1.27 1.28 1.27 1.28 310,000 396,300 CEBU AIR 32.25 32.35 32.3 32.8 32.25 32.25 121,000 3,912,290 INTL CONTAINER 217.4 218.4 216.8 219 215 218.4 1,313,590 286,401,662 MACROASIA 4.2 4.22 4.23 4.23 4.19 4.22 99,000 417,090 PAL HLDG 5.2 5.25 5.39 5.39 5.39 5.39 100 539 HARBOR STAR 0.88 0.89 0.89 0.89 0.87 0.89 13,000 11,380 ACESITE HOTEL 1.75 1.88 1.77 1.77 1.77 1.77 100,000 177,000 WATERFRONT 0.37 0.415 0.39 0.39 0.39 0.39 750,000 292,500 FAR EASTERN U 571 599 571 571 571 571 3,830 2,186,930 IPEOPLE 6.4 6.99 6.4 6.4 6.4 6.4 100 640 STI HLDG 0.46 0.465 0.46 0.465 0.46 0.465 26,980,000 12,544,900 BELLE CORP 1.16 1.17 1.16 1.17 1.16 1.17 110,000 128,600 BLOOMBERRY 9.94 9.97 9.99 10 9.94 9.97 4,484,900 44,713,098 PACIFIC ONLINE 3.03 3.2 3.2 3.2 2.9 3.18 655,000 2,040,200 PH RESORTS GRP 0.9 0.91 0.96 0.98 0.89 0.9 2,888,000 2,652,550 PREMIUM LEISURE 0.59 0.6 0.59 0.6 0.59 0.6 1,291,000 770,870 DIGIPLUS 6.79 6.89 6.62 6.89 6.58 6.89 1,663,200 11,266,599 PHILWEB 1.76 1.81 1.82 1.82 1.74 1.81 44,000 77,940 ALLDAY 0.167 0.169 0.168 0.168 0.167 0.167 1,000,000 167,140 ALLHOME 1.18 1.19 1.23 1.23 1.17 1.19 1,489,000 1,773,470 METRO RETAIL 1.18 1.22 1.17 1.22 1.17 1.22 4,000 4,780 PUREGOLD 27.9 27.95 27.8 28.1 27.75 27.95 508,600 14,228,700 ROBINSONS RTL 40.8 40.85 39.7 41 39.7 40.8 92,100 3,747,020 SSI GROUP 2.8 2.83 2.83 2.88 2.8 2.83 931,000 2,632,580 UPSON INTL CORP 1.65 1.69 1.7 1.7 1.7 1.7 32,000 54,400 WILCON DEPOT 19.6 19.7 19.62 19.8 19.56 19.7 3,958,400 77,678,334 APC GROUP 0.222 0.233 0.23 0.233 0.23 0.233 60,000 13,830 MEDILINES 0.335 0.34 0.335 0.335 0.335 0.335 300,000 100,500 PRMIERE HORIZON 0.176 0.18 0.174 0.175 0.174 0.175 20,000 3,490 SBS PHIL CORP 3.82 3.98 3.82 3.98 3.82 3.98 3,305,000 12,630,900 MINING & OIL ATOK 4.75 5.1 5 5 5 5 9,400 47,000 APEX MINING 2.78 2.79 2.75 2.8 2.75 2.79 2,091,000 5,832,240 ATLAS MINING 3.1 3.15 3.1 3.1 3.1 3.1 14,000 43,400 BENGUET A 4.77 4.85 4.8 4.85 4.76 4.85 38,000 181,490 BENGUET B 4.85 5 4.95 5.48 4.45 5 129,200 692,135 COAL ASIA HLDG 0.125 0.154 0.13 0.13 0.13 0.13 300,000 39,000 FERRONICKEL 2.34 2.35 2.36 2.36 2.35 2.35 460,000 1,081,310 GEOGRACE 0.03 0.031 0.031 0.031 0.031 0.031 1,100,000 34,100 LEPANTO A 0.079 0.08 0.076 0.08 0.076 0.08 3,250,000 258,070 LEPANTO B 0.07 0.077 0.077 0.077 0.07 0.07 20,000 1,470 MANILA MINING A 0.0048 0.0049 0.0048 0.0049 0.0048 0.0049 57,000,000 277,100 MARCVENTURES 1.03 1.04 1.05 1.05 1.02 1.03 778,000 804,000 NICKEL ASIA 5.07 5.09 5.12 5.12 5.04 5.07 1,273,100 6,454,064 ORNTL PENINSULA 0.66 0.69 0.69 0.69 0.67 0.69 33,000 22,370 PX MINING 3.08 3.09 3.06 3.1 3.06 3.09 1,671,000 5,167,280 SEMIRARA MINING 28.95 29 29 29.15 28.9 29 1,265,300 36,738,820 UNITED PARAGON 0.0042 0.0044 0.0041 0.0041 0.0041 0.0041 2,000,000 8,200 ENEX ENERGY 4.6 5 4.9 5.06 4.55 5.03 8,000 37,124 ORNTL PETROL A 0.0082 0.0083 0.0081 0.0082 0.0081 0.0082 22,000,000 178,400 PHILODRILL 0.0082 0.0083 0.0082 0.0082 0.0082 0.0082 6,000,000 49,200 PXP ENERGY 3.9 3.91 3.9 3.95 3.88 3.9 299,000 1,166,250 PREFFERED ACEN PREF B 1,065 1,066 1,061 1,065 1,061 1,065 6,315 6,722,350 AC PREF AR 2,450 2,460 2,460 2,460 2,450 2,450 90 221,300 ALCO PREF D 455 465 455 455 455 455 20 9,100 BRN PREF A 96.05 98.5 96.05 96.05 96.05 96.05 500 48,025 DD PREF 89.05 90 92 92 90 90 35,460 3,225,461 JFC PREF B 905 915 902.5 902.5 902.5 902.5 50 45,125 MWIDE PREF 5 100.1 101 100.1 100.1 100.1 100.1 4,000 400,400 PNX PREF 3B 26.8 26.9 22.3 26.9 22.3 26.9 6,200 145,595 PNX PREF 4 225.4 244 230 253 225.4 245 270 62,170 SMC PREF 2F 72 73 72 72 72 72 600 43,200 SMC PREF 2I 71.8 72.9 71.8 71.8 71.8 71.8 26,700 1,917,060 SMC PREF 2J 67.65 68.15 67.7 67.7 67.6 67.65 4,270 288,775.50 SMC PREF 2K 66 66.65 65.5 66 65.5 66 1,000 65,750

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

3.3 3.6 3.3 3.58 3.3 3.58 6,000 7.53 8.1 0.33

0.36

62,204,925 8,586,745 -5,071,354 1,132 -3,659,810 -3,332,290 -2,785,345 689,240 4,360 -7,479,302 8,100 -45,039,335 6,325,167 45,819,390 85,550 -94,760,195 -2,400 -584,130 -231,567 -595,340 -97,350 295,700 289,710 -331,340 -6,699,710.00 -149,286 -1,583,620 1,544,224 10,740 12,747,430 -44,430 -9,555,195 3,626,285 -22,500 -10,897,836 -3,030 -1,308,670 -24,630.00 -303,960.00 66,135,954 20,870 -4,700 3,873,234 3,110 6,179,629 -804,890 -291,645 -193,035 -1,496,860 -54,400 -23,843,772 256,190 -18,880 -1,470 -371,589 1,450,860 -959,925 8,617 78,000 76,500 -

20,460 -

SMALL, MEDIUM & EMERGING

0.415 0.45 0.41 0.45 230,000 98,650 0.73 0.74 0.73 0.74 402,000 296,710 1.01 1.01 1.01 1.01 50,000 50,500 0.68 0.68 0.68 0.68 11,000 7,480 1.52 1.52 1.52 1.52 1,000 1,520 0.057 0.057 0.057 0.057 330,000 18,810 1.03 1.05 1.02 1.02 1,510,000 1,551,890 0.22 0.22 0.218 0.218 60,000 13,180

EXHANGE TRADE FUNDS

98.6 98.8 98.5 98.8 2,050 202,086 -19,735

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH LFM PROP MERRYMART XURPAS

FIRST METRO ETF

0.42 0.74 1.01 0.66 1.52 0.057 1.02 0.215 98.6

0.45 0.75 1.02 0.68 1.79 0.061 1.04 0.218 98.8

www.news.businessmirror@gmail.com

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, November 28, 2023 B3

Bond yields tied to high-interest tack–ADB

By Cai U. Ordinario

@caiordinario

OCAL currency bond yields (LCY) benefitted from the highinterest rates in the Philippines and other parts of the region, according to the Asian Development Bank (ADB).

In its latest Asia Bond Monitor, the ADB said the hawkish stance of the Bangko Sentral ng Pilipinas (BSP) led to a 30-basis point increase in the 2-year government bond yields and 35 bps for the 10-year bond yields. The bond yield in the Philippines for the 2-year government debt papers was the third-highest among select emerging East Asian Markets

monitored by the ADB. The yield for the 10-year bonds was the secondhighest among the markets. According to the report, the increase in yields was driven by the BSP’s hawkish monetary policy stance “to bring inflation down within its target range of 2 percent–4 percent.” “The central bank is expected to

How to manage your start-up revenue

AJORITY of entrepreneurs are part of what we call “MSMes.” They contribute to economic growth not only of our country but in the global business landscape. If you plan to start a business, a seasoned “solopreneur” or business owner, here are some tips on how you can manage your business income. 1. Create a detailed budget. Developing a comprehensive budget that shows your expected income and expenses will help you avoid losses or if you are still in the early stage, it can help you achieve profitability in a faster timeline. 2. Minimize fixed costs. If you are able to minimize your fixed costs such as rent, salaries, utilities, advertising expenses, subscriptions and other stuff, you will be able to improve your profit margins, increase flexibility and better risk management. For example, a business unit can have better profit margin in each unit of product or services sold. In terms of flexibility, your business will be able to adapt quickly in changing market conditions. It can also help a company be more resilient in economic downturn and unexpected challenges. 3. Customer payment terms. By establishing clear and reasonable payment terms with your customers, you can have ease of collection, strengthen your reputation, reduced financial stress and increased customer loyalty. For example, a reputation for reliable and efficient collection will allow you to get referrals from your customers resulting to higher sales volume. 4. Invest wisely. As an entrepreneur, there will come a time that you are now able to expand your business, for scenarios like this, you might be thinking of investing in equipment, talents or other relevant stuff for your business. Before investing into something, you need to consider the possible return and risks so you can maximize your resources and avoid falling into a pitfall of bad investment decisions. Here are some steps on how you can invest wisely: 1. Conduct a thorough business analysis. Evaluate your current business metrics, strengths, weakness, opportunities and threats. This can be done together with your team on a quarterly, semi-annual or annual basis. 2. Develop a clear expansion strategy. By defining your business goals and objectives, you can easily align your investments to map out your current situation to your desired future state. 3. Understand your finances.

Karlo Biglang-Awa

personal finance Before expanding, it is important to determine your fund capacity, may it be through your profit, loan or other streams of income. This will allow you to ensure stability of day to day operations before venturing out to your investment plans. 4. Risk assessment. Identifying the potential risks associated with your expansion, you can now be more strategic in your next step. Example of risks can be market risk, competition risk, regulatory risk and economic related risks. 5. Technology and infrastructure. Investing in technology can improve your organization’s efficiency, streamline operations and enhance customer experience. 6. Diversification. Exploring opportunities and spreading your eggs in multiple baskets is always a good strategy to minimize risks and maximize potential returns. 7. Monitor and evaluate. Once you have invested already, it is important to establish key performance indicators to measure the success of your expansion efforts. After implementing the strategies in expanding your business and maximizing your start-up revenue, here are the Key Performance Indicators that will help you assess if the expansion has been effective to your business. 1. Sales and marketing. Revenue growth rate, customer acquisition cost, conversion rate and lead to customer ratio are the aspects that you can measure in terms of your expansion. 2. Financial. Gross profit margin, operating cash-flow, accounts receivable turn-over are the aspects for your evaluation in the aspect of financials. 3. Operational. Inventory turn-over (if actual products) are being produced/sold, on-time delivery, employee productivity and customer support response time will be your metrics in your operational side. I hope you will grow more in your business as you pursue in growing as a business person. In the dynamic landscape of today’s business world, growth is not just a goal, it’s a necessity. Karlo Biglang-awa is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 105th RFP program on January 2024. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

keep its monetary tightening policy until inflation is brought down within the government’s target even though inflation slowed to 4.9 percent year-on-year in October,” the report added. The ADB noted that consumer price inflation increased in August to 5.3 percent from the 4.7 percent in July. It further increased to 6.1 percent in September, driven by high food and energy prices. The ADB noted that the BSP’s decision to raise rates by 25 bps in an off-cycle meeting last month. This placed the country’s target reverse repurchase (RRP) rate to 6.5 percent. “We see softer inflation in emerging East Asia in the next few years, which is a welcome development as regional central banks may have more room to support economic growth,” ADB Chief Economist Albert Park said.

“At the same time, they should remain vigilant against financial turbulence in the face of interest rates remaining elevated for a longer period. Strengthening economic fundamentals will safeguard financial stability and support growth,” Park added. The ADB said that in the third quarter of this year, the Philippine LCY bond market increased 1.8 percent quarter-on-quarter (q-o-q), driven by higher issuances from the government and the BSP. Outstanding central bank securities grew 44.8 percent q-o-q as issuance increased during the quarter to mop up excess liquidity in the market, which was brought about by the BSP’s reduction of the reserve requirement ratio and the expiration of pandemic-related relief measures on June 30. The ADB noted that treasury and other government bonds outstand-

ing posted slower growth of 0.3 percent on a quarterly basis versus 2.3 percent in the previous quarter, as the government failed to meet its borrowing plan for the quarter due to investors’ demand for higher yields. The data also showed that corporate bond stock contracted 2.4 percent q-o-q to a size of P1.6 trillion, driven by reduced issuance during the quarter. Total corporate bonds outstanding were dominated by the property sector with a 31.9-percent share of the total LCY corporate bonds outstanding in the third quarter of 2023. Meanwhile, the ADB said bond issuance in emerging East Asia grew 8.6 percent from the previous quarter to $2.5 trillion in the third quarter of this year. Local currency bonds outstanding in the region increased 2.5 percent to $23.5 trillion. Government bonds

expanded 3 percent amid increased issuance and accounted for 62.4 percent of the region’s total local currency bonds outstanding. Corporate bonds outstanding rose 1.5 percent. The data also showed sustainable bonds outstanding in the Association of Southeast Asian Nations (Asean) region plus the People’s Republic of China, Japan and the Republic of Korea (Asean+3). These bonds—to finance projects and programs with positive environmental and social impacts—reached $734.1 billion at the end of September, following robust issuance of $57.3 billion in the third quarter. The Asean+3 accounted for 36.3 percent of the total global sustainable bond issuance in the third quarter of 2023, making it the second-largest regional sustainable bond market in the world. Asean markets contributed 7.4 percent of the total Asean+3 issuance.

White House touts supply chain tack as inflation eases

HE Biden administration will announce a redoubling of measures to strengthen supply chains on Monday, expanding an effort it credits with helping to ease post-pandemic inflation. Central to the effort is a new White House Council on Supply Chain Resilience, a cabinet-level body that President Joe Biden will inaugurate Monday. The council will conduct a quadrennial supply chain review, mirroring similar strategic documents prepared for national defense and homeland security. The

first review is due at the end of 2024. “We’re pleased with the progress on supply chains that was showing up in lower prices for everything from turkeys to gas prices for families this Thanksgiving, but we’re determined to keep working,” White House Economic Adviser Lael Brainard told reporters ahead of the announcement. An analysis by the Federal Reserve Bank of San Francisco in June concluded that supply chain pressures following the pandemic accounted for 60 percent of the surge in US inflation. The White House has been eager

to adopt that explanation because it would mean that the pandemic—not the government’s fiscal stimulus in response—was the primary driver of higher prices. As part of the rollout, the Biden Administration will announce a set of bureaucratic actions, according to two White House officials who briefed reporters Sunday. They include an invocation of the Defense Production Act to invest $35 million in starting materials for sterile injectable medicines, and a new report on US reliance on high-risk foreign suppliers to the pharmaceu-

tical supply chain. The existing Freight Logistics Optimization Works program, a public-private information-sharing agreement that allows major shippers to see real-time logistics data to better predict bottlenecks, will announce new participants and add containerized shipments of agricultural products. The Department of Energy will announce almost $300 million in grants to coal communities to convert to what it calls “clean energy supply chains.” Bloomberg

Pagcor scores 99.46% in GCG SG warns higher rates performance evaluation to cause vulnerabilities

This Monday, November 20, 2023, photo shows officials of the Philippine Amusement and Gaming Corp. (Pagcor) after being named as one of the top-performing GOCCs during the Governance Awards Ceremony in Pasay City. CREDIT: Pagcor ECD

HE Philippine Amusement and Gaming Corp. (Pagcor) announced it recently received formal recognition from the Governance Commission for GOCCs or GCG for achieving a score of 99.46 percent in its annual Performance Evaluation System (PES) for 2022. The score is one of the highest in the history of Pagcor and was achieved on the first year under the leadership of Chairman and CEO Alejandro H. Tengco, who was appointed by President Ferdinand Marcos Jr. in August 2022. Pagcor’s score in the 2021 PES was 98.08 percent, while in 2020 it was 91.38 percent. The award for 2022 was received by Pagcor President and COO Juanito L. Sañosa during the inaugural GOCC Governance Awards Ceremony on November 20, 2023, at the PICC Complex in Pasay City. Sañosa, a lawyer, said the award elevated Pagcor to the ranks of the best performing GOCCs in the country. “This is truly another proud moment for Pagcor. While this award serves as a validation of our efforts and hard work, it also inspires us to continuously exceed our past accomplishments – all in the service of our country,” he said. The PES award is a recognition of the unwavering dedication to the highest standards of accountability

and efficiency among governmentowned and controlled corporations. In the GCG report, Pagcor garnered perfect scores in the following categories: Increased Contribution to National Government Coffers and Nation-Building Efforts; Increased Gross Gaming Revenue of the Industry; and Increased Revenue of Pagcor; among others. In his keynote speech during the awards ceremony, Executive Secretary Lucas P. Bersamin said GOOCs contributed P48.68 billion in dividends in 2022, funding some of the most vital government sociocivic projects such as infrastructure, health, education, and others. “It is beyond question that GOCCs are significant tools in adjuring inclusive economic growth and development for 2022. The Bureau of Treasury recorded P48.68 billion dividends coming from different GOCCs that are covered under Republic Act 10149,” Bersamin said. In a statement, GCG Commissioner Atty. Brian Keith F. Hosaka encouraged all GOCCs to work closely together in making the GOCC sector a prime driver in delivering effective and efficient progress for Filipinos. Aside from Pagcor, twelve other GOCCs received awards for achieving the highest Corporate Governance Scorecard (CGS) ratings in 2022 while three bagged the CGS Hall of Fame.

HE combination of elevated global interest rates and preexisting weaknesses remain a threat to world financial-market stability, Singapore’s central bank has warned. Fragilities built up during the Covid-19 pandemic may be exposed if central banks maintain their restrictive monetary policy settings, as was seen in the spate of US bank failures in March, the Monetary Authority of Singapore said in its annual Financial Stability Review. Emerging markets may also face deepening public debt risks as shown by a number of defaults over the past year, which may lead to risk aversion and outflows, the MAS said. Other risks to financial stability include rising geopolitical tensions, climate change, the Israel-Hamas conflict, Russia’s war on Ukraine, and a slowing Chinese economy, according to the report. Still, Singapore remains well placed to cope with the challenging

environment as banks’ credit quality has continued to be strong and most corporates and households have weathered the pass-through of interest rate hikes with no significant increase in loan delinquency, MAS said.

Rental pressures to abate

ON the closely-watched property front, the MAS said rental pressures in the residential market should “continue to abate” with a large supply of units being completed. The momentum in price rises has also moderated, and demand is expected to be restrained by high interest rates and moderation in wage growth, according to the MAS. Foreign demand in Singapore’s private residential property market has fallen to about 4 percent of total transaction activity in 2023, down from more than 6 percent in the first quarter before the latest round of cooling measures were introduced, it said. Bloomberg News

Won seen leading Baht as Asia’s best currency

HE South Korean won will probably maintain its lead as the best-performing Asian currency this quarter, keeping ahead of the Thai baht, according to analysts. The won is benefiting from a rebound in exports, while an expected tourism recovery for Thailand hasn’t been as strong, according to Natwest Markets. Of the two central banks, both of which have their final policy meetings of the year this week, the Bank of Thailand may sound more dovish with inflation lower, said Standard Chartered Plc. Asian currencies are recouping some of their earlier losses this year as expectations grow that the Federal Reserve is near the end of its hiking cycle. That’s reviving investor interest in emerging markets, with South Korea and India seeing inflows into

their stocks and bonds. The won has gained 3.3 percent this quarter to 1,306.30 as of Friday, while the baht is up 2.6 percent at 35.485. The Bank of Korea is likely to sound more hawkish after it flagged upside risks to inflation early this month, while the Bank of Thailand will probably reiterate its dovish stance amid slowing economic growth and easing price pressures, according to analysts. “After headline inflation fell into the red in October, a potentially dovish-sounding BOT should be baht-negative, given already-wide rate differentials with the US,” said Nicholas Chia, a Singapore-based macro strategist at Standard Chartered. The BOK will be more relaxed over won strength, given still-salient inflationary pressures, he said. Bloomberg News

Tuesday, November 28, 2023 • Editor: Gerard S. Ramos

Art

BusinessMirror

www.businessmirror.com.ph

Censored art from around the world finds a second opportunity at a Barcelona museum for banned works VISITORS look at Yoshua Okón’s video of an obese woman lying nude on a table in McDonald’s, called Freedom Fries, at Barcelona’s Museum of Forbidden Art in Barcelona, Spain on November 8. AP

BY JOSEPH WILSON The Associated Press

ARCELONA, Spain—A drawing of a nude Donald Trump. A punching bag sculpture shaped like a woman’s torso. A display of women’s party shoes standing proudly on prayer rugs. All are pieces of contemporary art that have provoked debate and, sometimes, violent reactions. These pieces and dozens more that were subjected to some sort of censorship have found a home in Spain at Barcelona’s Museum of Forbidden Art, or “Museu de l’Art Prohibit” in Catalan. The collection of over 200 works, including ones by well-known creators such as American photographer Robert Mapplethorpe and Spain’s own Pablo Picasso, is intended to challenge visitors and question the limits imposed on artists in an increasingly polarized world. Director Rosa Rodrigo said the museum is the only one in the world dedicated exclusively to art that faced petitions—often successful ones—for their removal from public view on moral, political, religious, sexual or commercial grounds. “The museum gives an opportunity to works of art that, for whatever reason, at some point had been banned, attacked, censored, or canceled, because there are so many,” Rodrigo told The Associated Press. The museum is the creation of Catalan art collector Tatxo Benet, who owns all but one of the 42 works currently on display—and the 200 more in storage. He was already collecting contemporary art when he began gathering “banned” works. Five years later, Benet’s idea became the Museum of Forbidden Art, which opened its doors in October. Since then, over 13,000 people have visited its galleries. As more works come under attack, people like art critic and curator Gabriel Luciani say the exhibit is essential. “I think it’s imperative to have a place like this in Europe and around the world. Especially in these moments of censorship that we’re seeing. Not only in the arts but also in other political contexts,” he said. In March, a Hong Kong department store took down a digital artwork that contained hidden references to jailed dissidents. The same month on the other side of the world, a Florida charter

BEAUTIFUL artworks by Mia de Lara depict traditional Christmas before the turn of the century in Pan de Manila’s holiday packaging.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Ryan Kwanten, 47; Jon Stewart, 61; Ed Harris, 73; Paul Shaffer, 74. HAPPY BIRTHDAY: Formulate your thoughts and execute your intentions. Sending clear messages will determine how well you do this year. When in doubt, ask; time is precious, and mixed messages will slow you down. Surround yourself with like-minded people and those you know you can rely on to give you good advice. Make kindness and compassion mandatory, address sensitive issues and pay more attention to loved ones. Your numbers are 8, 19, 23, 35, 36, 39, 48.

ARIES (March 21-April 19): Don’t sit idle when taking the initiative and participating in what’s happening is the path to new beginnings. Everyone will not welcome an aggressive plan, but you must do what’s best for you. Meetings, updates and taking on new responsibilities will pay off. ★★★★

TAURUS (April 20-May 20): Keep track of your money. Don’t give anyone access to personal information. Play by the rules; be responsible financially and emotionally, take control and make your intentions clear. A change or move needs careful consideration. Don’t fold under pressure. ★★★

GEMINI (May 21-June 20): Emotions will escalate if you or someone close withholds information or true feelings. If you can’t decide what to do, revert to taking care of your responsibilities to avoid complaints while you figure out what’s next. Personal growth is favored. ★★★

school principal was forced to resign after a parent complained about a lesson on Renaissance art that included Michelangelo’s David sculpture. Barcelona’s new museum features well-known works of contention, including Piss Christ by Andres Serrano, a photo of a crucifix plunged into a vat of the artist’s urine; as well as Mapplethorpe’s X Portfolio, photos of sadomasochism that were challenged in court for obscenity. “I think the collection could even be more shocking,” Luciani said. But the works by women, which have drawn ire from conservative religious groups or been repressed for their feminist content, are among the most powerful of the collection. Silence, an installation by French Algerian artist Zoulikha Bouabdellah that displays 30 pairs of stiletto heels on the same number of Islamic prayer rugs, dominates the center of a room. Bouabdellah agreed to have her work removed from a museum in Clichy, France, after the 2015 attacks in Paris against the staff of the Charlie Hebdo satirical newspaper, which had published cartoons of the Prophet Muhammad. “Censorship in art has always existed because

artists are always forerunners and touch on different themes,” Rodrigo said. “[But] it is true that most of the works on display are from the years 2010 to 2020. In those 10 years, in many different areas of the world, I think that societies themselves have undergone a regression of values, because it has not necessarily been governments which have acted [against artworks], but rather it has been society itself.” In 2016, the Australian artist Illma Gore posted her full-monty drawing of Trump on Facebook and had her account shut down to obscenity and nudity. Gore believes the piece led to her being assaulted on a Los Angeles street. Rodrigo said her museum hopes it won’t see any attacks because visitors should come prepared to be shocked. She also believes that by grouping these works, they produce a more balanced impact. Plus, she has faith that the spectator will show respect and restraint when granted the freedom to come in contact with provocative artwork. “We want our visitors to feel comfortable, not that they are in a fortress,” Rodrigo said, “because if we did that we would be sending the wrong message.” ■

Bringing back traditional Filipino Christmas with nostalgic artwork by Mia de Lara IMAGINE the delight on the faces of your family members as you set down the new Pan de Manila paper bags on your dining table. Inside the bags are your household’s usual fare: pandesal and spreads and boxes of creamy coffee blends. On the paper bag’s exterior and in the holiday packaging of your favorite Cafe con Leche and Chocolate con Leche, a traditional Filipino stone house stands in the middle of laidback plaza life. Women in their baro’t saya stand under the shade of a towering mango tree as onlookers in traditional Spanish-era garb continue to prepare for the noche buena ahead. With packaging this beautiful, you can give them as gifts, store them as keepsakes, or put them on display in a corner of your home. Known for serving our favorite pandesal in the Philippines, Pan de Manila has always been a purveyor of Filipino traditions, celebrations, and recipes. One of their yearly traditions is collaborating with local

TODAY’S HOROSCOPE

artists to promote Filipino arts. Through this special illustrated design collaboration with iconic graphic designer Mia de Lara, Pan de Manila releases this nostalgic and elegant packaging for Christmas.

Pan de Manila’s Christmas theme this year is Kay Sarap Balikan, Paskong Nakaraan. Whenever we talk about our favorite Christmas memories, we always go back to simpler and slower times. No matter

what generation we are from, we always think of coming together as a family during Christmas. As you gather around the table this year, Pan de Manila pairs the experience with holiday packaging that you’ll want to keep for years to come. De Lara’s artwork is long-lasting– like Filipino celebrations of Christmas. As the kids count down at midnight, take a quick look at De Lara’s intricate plaza scene on Pan de Manila’s holiday packaging and let nostalgia wash over your senses. Elegant and timeless. Just like a traditional Filipino Christmas. For the past 15 years, Pan de Manila has featured the works of up-and-coming local artists on its Filipino art-inspired Christmas paper bags. Past years’ collaboration includes artists such as Larry Memije, Rina Albert-Llamas, Dante Hipolito, Amador Barquilla, Jovan Benito, Bibsy Torio, Noel Mahilum, and Christian Regis, among others.

CANCER (June 21-July 22): Trust and honesty matter. You may have to step outside your comfort zone and be blunt about what you can and cannot tolerate. Look for opportunities that offer greater freedom to pursue what you enjoy doing most. Get offers or promises in writing. ★★★

LEO (July 23-Aug. 22): Speak up and join in the conversation, and you’ll build confidence and make beneficial connections. Simplify how you handle your responsibilities. Let go of what’s no longer worthwhile and replace it with new skills that allow you to get more done and lower your overhead. ★★★★

VIRGO (Aug. 23-Sept. 22): Push to make a move. Refuse to let your emotions or someone else’s mislead you. Look for opportunities based on what you already have going for you to use in a diverse and marketable manner. ★★

LIBRA (Sept. 23-Oct. 22): Attend a seminar, networking event or reunion that offers exciting conversations that will spark your imagination and point you in the right direction. Share your thoughts and build a good rapport with individuals who have something to offer. ★★★★★

SCORPIO (Oct. 23-Nov. 21): Stick to your plan, regardless of temptation or pressure. Joint ventures aren’t likely to turn out as expected. Trust your intuition, and avoid getting caught in someone else’s plans. Take responsibility and do what’s best for you. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Taking care of matters swiftly will help build a solid reputation. Don’t give in to emotional manipulation; be clear about your priorities and keep moving forward. Avoid being pressured into signing up for something you can’t afford or fulfill. ★★★

CAPRICORN (Dec. 22-Jan. 19): Someone will test your patience if you let them. Stay balanced and choose your words wisely. You’ll accomplish more if you work alone, follow your intuition and look for innovative ways to make your surroundings conducive to achieving your dreams. ★★★

AQUARIUS (Jan. 20-Feb. 18): Make your surroundings feel like home. Put your personal touch on whatever you do, and it will give you the confidence and peace of mind you need to push forward. Take on projects that benefit you, and use your skills to further your interests. ★★★★★

PISCES (Feb. 19-March 20): Emotional manipulation is apparent. Be a good listener, know when to say no, and don’t ask for too much or embellish the truth. You’ll achieve the most if you avoid arguments, pay attention to detail and finish what you start. Personal change is encouraged. ★ BIRTHDAY BABY: You are impressive, proactive and entertaining. You are demonstrative and benevolent.

‘coming together’ BY LANCE ENFINGER AND JEFF CHEN The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Adrian Johnson/Jared Goudsmit

ACROSS 1 Goat sound 4 Deer who is Thumper’s friend 9 Take to the slopes 12 “Back in Black” band 14 Belted constellation 15 Take it on the ___ 16 MMXXIII, for one 17 Studio behind “Up” 18 Military org. on campuses 19 Like a Brink’s truck 21 Floral brew 23 Tiny 24 Mimic 25 Place to wear a robe 28 Scanned ID at a supermarket 32 “Silly me!” 35 City voting districts 37 “Say what?” 38 Dancing With the Stars winner Ohno 40 Fisher of Eighth Grade 41 PC shortcut key 42 Organizing consultant Marie 43 Kings of ___ (rock band) 44 Lawn care brand 46 Gallon or gram

47 Like many Oscar speeches 48 More sad 49 Golf ball supports 50 Greed 52 ___ Grand (Vegas hotel) 55 Word-for-word 56 Actress Dennings of WandaVision 59 Enjoying solitude, say 61 Before now 62 Strummed and picked instrument 64 Loosen 65 British granny 66 Vast expanse of water 67 “Ta-ta!” 68 Either side of a Mad magazine battle 69 Void ___ prohibited DOWN 1 “Sure, why not?!” 2 Laptop brand 3 Eve’s partner 4 Woody’s love interest in Toy Story 5 Dry as a desert 6 Margarita ___ 7 Pig that becomes a snake when its last letter is removed 8 Bit of headway

9 Attempt 10 Benjamin Franklin allegedly flew one 11 Colluding 13 Clustering (around) 15 Exit stealthily 20 Reduce, ___, recycle 22 “Bark for me!” 25 “Neato!” 26 Diet heavy on the meats 27 Burning crime 29 Phonies 30 Chasm between peoples...and what each starred clue’s answer “bridges” by leaping over a black square 31 “Ha, karma strikes again!” 32 Death Be Not Proud poet, and an anagram of “no end” 33 Hit from the 1960s, say 34 ___ and hollers 36 Microwave alert 39 Sit in a corner and sulk 44 “Well, duh!” 45 Killer whale 50 Echo voice 51 Joint in the arm 52 Planet that some have proposed

terraforming 53 Unbridled joy 54 Planted agent 56 Joint in the leg 57 Slightly open 58 Musical sound 60 Vote against 63 Berliner’s cry

Solution to today’s puzzle:

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Editor: Gerard S. Ramos • Tuesday, November 28, 2023

Silent about breakups ‘Hunger Games’ feasts, ‘Napoleon’ conquers but ‘Wish’ doesn’t come true at Thanksgiving box office By Jake Coyle The Associated Press NEW YORK—The Walt Disney Co.’s Wish had been expected to rule the Thanksgiving weekend box office, but moviegoers instead feasted on leftovers, as The Hunger Games: The Ballad of Songbirds and Snakes led ticket sales for the second weekend, according to studio estimates Sunday. Neither of the weekend’s top new releases—Wish and Ridley Scott’s Napoleon—could keep up with Lionsgate’s Hunger Games prequel. After debuting the previous weekend with $44.6 million, the return to Panem proved the top draw for holiday moviegoers, grossing $28.8 million over the weekend and $42 million over the five-day holiday frame. In two weeks of release, Songbirds and Snakes has grossed nearly $100 million domestically and $200 million globally. The closer contest was for second place, where Napoleon narrowly outmaneuvered Wish. Scott’s epic outperformed expectations to take $32.5 million over the five-day weekend and an estimated $20.4 million Friday through Sunday. The film, starring Joaquin Phoenix as the French emperor and Vanessa Kirby as his wife Joséphine de Beauharnais, was also the top movie globally with $78.8 million. Reviews were mixed (61 percent fresh on Rotten Tomatoes) and ticket buyers were non-plussed (a “B-” CinemaScore), but Napoleon fared far better in theaters than its subject did at Waterloo. Napoleon, like Martin Scorsese’s Killers of the Flower Moon, is a big-budget statement by Apple Studios of the streamer’s swelling Hollywood ambitions. With an estimated budget of $200 million, Napoleon may still have a long road to reach profitability for Apple, which partnered with Sony to distribute Napoleon theatrically. But it’s an undeniably strong beginning for an adult-skewing 168-minute historical drama. Wish, however, had been supposed to have a more starry-eyed start. Disney Animation releases, like Frozen II ($123.7 million over five days in 2019), Ralph Breaks the Internet ($84.6 million in 2018) and Coco ($71 million in 2017), have often owned Thanksgiving moviegoing. But Wish wobbled, coming in with $31.7 million over five days and $19.5 million on Friday through Sunday. It added $17.3 million internationally. It had been forecast to debut closer to $50 million. Wish, a fairy tale centered around a wished-upon star, is also a celebration of Disney, itself, timed to the studio’s 100th anniversary and rife with callbacks to Disney favorites. Critics weren’t impressed, saying Wish felt more like a marketing than movie magic. So instead of righting an up-and-down year for Disney, Wish is, for now, adding to some of the studio’s recent headaches, including the underperforming The Marvels. The Marvel sequel has limped to $76.9 million domestically and $110.2 million overseas in three weeks. Wish also faced direct competition for families in Trolls Band Together. The DreamWorks and Universal Pictures release opened a week prior, and took in $17.5 million in its second frame ($25.3 million over five days). “Wish ran into a much more competitive market than what Disney might normally see in the Thanksgiving corridor,” said Paul Dergarabedian, senior media analyst for data firm comScore. “We’re accustomed to seeing those Disney films at the top of the chart. They kind of had to split the audience with Trolls.” Still, the storybook isn’t written yet on Wish. It could follow the lead of Pixar’s Elemental, which launched with a lukewarm $29.6 million in June but found its legs, ultimately grossing nearly $500 million worldwide. Also entering wide-release over the holiday weekend was Emerald Fennell’s Saltburn, the writerdirector’s follow-up to 2020’s Promising Young Woman. After debuting in seven packed theaters last weekend, Saltburn grossed $3.1 million over five days for Amazon and MGM. Barry Keoghan stars as an Oxford student befriended by a rich classmate (Jacob Elordi) and invited to his family’s country manor.

HE buzz in the entertainment universe about couples separating is definitely getting louder as the personalities involved press on with sealed lips despite the relentless clamor for them to straightforwardly admit or deny the rumors. Kim Chiu and Xian Lim, who have been more than longtime companions for more than a decade, are in the center of all these persistent talks about a breakup that can no longer be mended nor can it be shrouded. There were a few instances when the media caught up with Chiu but all she could blurt out was “Okay naman kami.” For his part, Lim shared a post of considerable length on his Instagram account, one that is no less than five overwrought paragraphs, which came down to nothing. It could have been just a one-liner like “Kami pa rin” or “It’s over” which would have ended and clarified all speculation. But what Lim posted read like what a beauty queen would have uttered in the final Q&A round of an international pageant: “...I will continue to use my voice to share my purpose. I will continue the best version of me that I can become and hopefully leave a mark in this lifetime.” There are talks that Chiu has discovered a new sense of excitement not too long ago, and that she has moved on faster than expected, raring to give her all for her new acting project, an adaptation of the Korean hit series What’s Wrong with Secretary Kim. Months ago, it was reported that Jake Ejercito was confirmed to play the lead actor, but the tide just turned without warning, and it was officially announced that Paolo Avelino has taken over the prime role. Many insiders raised more than just eyebrows since Chiu and Avelino have just wrapped up the drama series Linlang, and they are headlining this new series right away. Ejercito has also kept mum on what led to his losing the role which was supposed to be his biggest break as an actor. Avelino is also being rumored to have called it quits with girlfriend Janine Gutierrez,

but no one from their respective camps have come out with an official statement. Meanwhile, Kathryn Bernardo and Daniel Padilla continue to seal their tinted lips amid escalating talks of their separation for many weeks now. Considered a most formidable reel- and real-life tandem in the entertainment circuit, all signs point to trouble in paradise. There’s a scuttlebutt of a third party— allegations of an indiscretion by Padilla with rising actress Andrea Brillantes (who also had her own controversial break up with her basketball player boyfriend Ricci Rivero not too long ago) but no one is brave enough to come forward with the truth. Close friends of these personalities have started unfollowing them on social media, depending on who they side with, which has definitely added fuel to the fire that has been raging out of control.

24 Oras won Best Special Event Coverage for its May 9, 2022 Election Coverage, Eleksyon 2022 The GMA News and Public Affairs Coverage. The award was received by GMA Integrated News vice president and deputy head for news programs and specials Michelle Seva together with GMA Integrated News reporters Mariz Umali and James Agustin. Here, they pose with Manila Archbishop Jose F. Cardinal Advincula, D.D. (second from left) and CMMA Chairman D. Edgard A. Cabangon (left).

But there are also those who do not beat around the bush, like promising actor Elijah Canlas who admitted that he and actress-girlfriend Miles Ocampo have parted ways. “We broke up a couple months ago. We ran into a rough patch recently mainly because we’re going through our own personal stuff. It’s been hard. I’m always gonna have love for her, and I’ll always be her No.1 fan. We are taking our time figuring out ourselves and our lives right now.” Canlas has a good role in the ongoing series Senior High and he has just launched his debut single “Kilala Kita.” It’s going to be the season of love very soon, and we hope that more than finding or losing love, people who are seemingly lost will get the chance to truly find themselves, handle their truth, and rediscover the kind of peace that encourages, energizes and endures. n

Clockwise: Xian Lim, Kim Chiu, Paolo Avelino, Kathryn Bernardo, Daniel Padilla and Andrea Brillantes.

THE television special NCAA Season 98 on GTV and GMA Synergy received a Special Citation under the Best TV Special category.

GMA Network dominates 45th Catholic Mass Media Awards with multiple wins LEADING media company GMA Network emerged triumphant at the 45th Catholic Mass Media Awards (CMMA), securing numerous accolades in various categories. The awarding ceremony, held at Citystate Tower Hotel in Manila on November 23, brought together dedicated journalists, talented artists, and innovative content creators who made an indelible mark on the world of media. The network’s heartwarming 2022 Christmas Station ID, titled Love is Us This Christmas: GMA Christmas Station ID 2022, bested other entries and won the Best Station ID award. Meanwhile, GMA’s commitment to excellence in news coverage was recognized anew as its flagship newscast 24 Oras won Best Special Event Coverage for its May 9, 2022 Election Coverage, Eleksyon 2022: The GMA News and Public Affairs Coverage. GMA Public Affairs shows likewise added feathers to their caps as Unang Hirit (GMA Integrated Newsproduced Unang Balita-Lenten Traditions) received accolades as the Best News Magazine while GTV’s I Juander was recognized as the Best Adult Educational/ Cultural Program. Meanwhile, for the television category, the Best Drama Series/Program category went to the GMA Entertainment Group’s prime-time masterpiece Maria Clara at Ibarra, while receiving a special citation for the

same category is GMA Afternoon Prime’s high-rating family drama Abot Kamay na Pangarap. The title of the Best Entertainment Program went to the original countdown variety show TiktoClock. The multiplatform talk show Fast Talk with Boy Abunda earned the title of the Best Talk Show. GMA Network extended its win in the radio and podcast categories. The Howie Severino Podcast by GMA Integrated News earned acclaim as the Best Educational Program. Dobol Weng sa Dobol B on Super Radyo DZBB 594 received the Best News Commentary award. Sumasapuso, Kasama si Toni Aquino also stood out as the Best Drama Program. Moreover, DZBB Super Serbisyo, Trabaho at Negosyo on Super Radyo DZBB 594 and Barangay Love Stories on Barangay LS 97.1 were each granted a Special Citation for the Best Business News and Best Drama Program categories, respectively. The Best Music Video (Special Citation), on the other hand, was awarded to GMA Synergy’s NCAA Season 98 theme song “Pusong Kampeon” performed by girl group XOXO and composed by Simon Tan. Additionally, the television special NCAA Season 98 on GTV and GMA Synergy received a Special Citation under the Best TV Special category. In a heartfelt tribute, the CMMA bestowed

the Serviam Award posthumously to the late broadcaster Mike Enriquez. The Serviam Award is a tribute to individuals who contributed to and through media-based programs and projects that convey Christian values.

CMMA bestowed the Serviam Award posthumously to the late broadcaster Mike Enriquez. The award was received by GMA Network first vice president for radio Glenn Allona. The Serviam Award is a tribute to individuals who contributed to and through mediabased programs and projects that convey Christian values.

Tuesday, November 28, 2023

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JUANHAND GRANTED CREDIT FACILITY BY UNIONBANK

AT the agreement signing: JuanHand Chief Executive Officer Francisco “Coco” Mauricio and UnionBank Executive Vice President Bobby Abastillas

NIONBANK, a multi-awarded financial institution and one of the country’s top fve banks, has extended a credit facility to Wefund Lending Corporation, the operator of the fastest growing FinTech lending app, JuanHand. JuanHand is a leading online cash loan app duly licensed by the SEC (Securities and Exchange Commission) and a found-

ing member of CLAP (Consumer Lending Association of the Philippines). The agreement was signed last October 3, 2023, by WeFund’s President and Chief Executive Officer, Francisco “Coco” Mauricio and UnionBank’s Executive Vice President, Bobby Abastillas. “We are very honored UnionBank chose WeFund as the first FinTech Cash Loan

company to be granted a credit facility,” Mauricio said. “It not only shows UnionBank’s trust and confidence in our technology and operations but more importantly, it shows UB’s commitment to serve the underserved. It is our privilege to partner with UnionBank to improve financial inclusion in the country. When it comes to quick and easy financial assistance, Sagot Ka Ni JuanHand!” Since the introduction of WeFund’s JuanHand app in 2019, it has had over 10 million downloads, over 6 million registrations and more than 15 billion pesos in loan disbursements. JuanHand offers between P2,000 to P25,000 credit limit, payable within 30 to 90 days or one to three months. Using just basic borrower information and just one valid ID, JuanHand’s best in class AI can approve loans in less than five minutes and disburse cash to the borrower’s bank or e-wallet in less than 45 seconds. The JuanHand app can be downloaded via Google Play or App Store. For more information, visit their website, https:// www.juanhand.com/.

MARK SABEROLA and Normann Chiu of VPX Auto Service stand united with Macmod Muti and his sons, Raji and Najib Muti, following the successful signing of the franchise agreement, marking a new era of automotive service excellence in Cagayan de Oro City.

VPX Expands to Mindanao: New Franchise Agreement Signed for Cagayan de Oro

PX, the franchise brand of ValuePlus Auto Services, is proud to announce the signing of a new franchise agreement for its inaugural branch in Cagayan de Oro City in Mindanao. The franchise was awarded to Markson Petrochem Corp., under the leadership of Macmod Muti, an accountant and former civic leader. The momentous signing event took place at the ValuePlus headquarters in Quezon City, with Normann Chiu, President of ValuePlus Auto Service, and Mark Saberola, General Manager of ValuePlus Auto Services, in attendance. The event was also witnessed by Najib and Raji Muti of Markson Petrochem Corp. This groundbreaking expansion marks VPX’s first foray into the Mindanao region, a move that signifies a major leap in the company’s growth trajectory. Chiu reflected on the significance of the expansion: “This signing is a monumental milestone for us, we have been doing business in Cagayan de Oro for decades. Our family has deep roots in Mindanao, and it’s incredibly fulfilling to see that legacy continue to grow and thrive in a region so close to our hearts.” Muti spoke of the franchise as a seed for future generations: “Investing in VPX

represents more than just business growth; it’s about lay ing dow n the foundations for future generations. T his venture is a way for us to ensure that the next generation of our family has a robust platform to embark on their entrepreneurial journey.” Saberola praised Muti’s leadership: “Mr. Muti’s proven leadership and business acumen make him an ideal VPX franchise operator. With the support of his family and the emerging next-generation leaders within his company, we are confident that this venture is the beginning of a successful regional endeavor with Markson Petrochem Corp.” The VPX branch in Cagayan de Oro City will offer a comprehensive range of automotive services, utilizing skilled technicians and advanced technology to ensure premium quality service. This new branch is not just a business expansion for VPX; it’s a strengthening of community ties and a commitment to bringing exceptional automotive service to Mindanao. This expansion into Mindanao represents a significant step for VPX in its mission to deliver superior automotive services throughout the Philippines, reinforcing its position as a leader in the automotive service industry.

Bright and sparkling Christmas. Century

Park Hotel officially welcomed the Christmas Season with its most awaited Christmas Lighting. Headed by Dr. Lucio Tan, family and friends also joined in the merry making and revelry. It’s going to be a bright and sparkling Christmas indeed at Century Park Hotel

A Milestone in healthcare

AST year, chronic lung disease, tuberculosis, pneumonia, Covid-19 and lung cancer were among the top 10 leading causes of death in the country included. Out of the four million Filipinos who contracted Covid-19, 280,000 continue to suffer from long Covid syndrome. Despite the enactment of several laws to curb smoking in the country, many Filipinos are still suffering from smoking-related lung diseases. The need for pulmonary rehabilitation to help those suffering from difficulty in breathing remains. Along with this is the need for an improved venue where pulmonary rehabilitation can be best carried out, both for in person and virtual sessions.

Located at the Philippine General Hospital is the UP- PGH Pulmonary Care Center & Post Covid Hub which aims to help Filipinos afflicted with chronic lung diseases and long Covid-19 syndrome to breathe and live better. It is a milestone in healthcare as it is the first post-Covid hub in the country. It was recently inaugurated with PGH Director Dr. Gerardo Legaspi; Division of Pulmonary Medicine Head Dr. Lenora C. Fernandez; Dr. Joselito Chavez, former chief of the Division of Pulmonary Medicine; Dr. Carissa Paz C. Dioquino, Chair, Department of Neurosciences; Dr. John Anonuevo, Chair, Department of Medicine; and fellows of the Pulmonary Division, among others. SM Foundation

DR. Lenora Fernandez, Chair of the PGH Division of Pulmonary Medicine is joined by consultant Dr. Joselito Chavez.

was represented by Executive Director for Health and Medical Programs Connie Angeles; Board of Trustee Engr. Gil Macapagal; Senior Project Manager Albert Uy and Assistant Project Manager Roma Hierro in attendance. It is the 199th SM Foundation Wellness Center and is the third project of SM Foundation with PGH’s Division of Pulmonary Medicine. The first was the renovation of the Pulmonary room at the Outpatient Department. This was followed two years later with the renovation of another room to house the CPET (Cardio-Pulmonar y Exercise Testing ) machine and as venue of pulmonary rehab sessions. The UP- PGH Pulmonary Care Center and Post Covid Hub has the following services: multi-disciplinary pulmonary rehabilitation program; comprehensive diagnostic assessment for chronic lung diseases and long Covid syndrome; smoking cessation program; asthma education program; lung cancer and interstitial lung disease multi-disciplinary care; and hoe care referral network provision. It is under the Div ision of Pulmonar y Medicine of UP-PGH headed by Dr. Lenora C. Fernandez. Aside from the countr y’s top pulmonologists, it boasts of a multi-disciplinar y medical team from the UP-PGH’s Departments of Rehabilitation Medicine, Neurosciences, Family Medicine, and Psychiatr y and Behav ioral Medicine. Respirator y therapists as well as the Medical Social Ser v ices and Dietar y Section are also partners in dispensing the Hub ’s ser v ices.

Aji-Ginisa leads the I Love Veggie-licious Movement, launches New Era of Cooking

JI-GINISA prepared a day of health and fun for kids and their parents at the Aji-Ginisa®’s Welcome to a New Veggie-licious Era, held recently at The Blue Leaf McKinley Hill in Taguig. The event served as the official launch of the I Love Veggielicious Movement, which aims to make vegetable dishes tastier and more enjoyable, especially for kids. Well-loved celebrity mom Marian Rivera-Dantes headlined the festivities, showing off their family’s favorite vegetable recipes in a special cooking demo. “Parents put a premium on their children’s health and nutrition, but feeding them veggies isn’t always an easy feat,” said Kazuki Kyoya. “Aji-Ginisa® can help them make their dishes more meaty and gisa, so their kids can learn to love vegetables and these healthy recipes can be part of their every meal.” “As a mom, I know mealtimes can be challenging. What I do is experiment in the kitchen and try lots of ways to prepare vegetable dishes that are nutritious and yummy,” said Marian. “Our goal is to make our kids try different recipes, so they can grow to enjoy and appreciate the healthy food we prepare.” The kids from the audience went up on stage for the I Love Veggie-licious Pledge, which was led by Marian’s daughter Zia, and made their promise to love vegetables. Parents and their little ones can

also join this pledge online by using the Pledge to I Love Veggie-licious filter on TikTok. For every 1,000 pledges, Ajinomoto commits to lead a feeding program for select beneficiaries nationwide. Attendees also had the opportunity to try making their own veggie-licious dishes during the event. As they sprinkle their Aji-Ginisa on their veggies, kids and parents also had fun in their stations by doing the Shake Shake Dance to the beat of the music to make their veggies veggie-licious. Ajinomoto is bringing the I Love Veggie-licious Movement nationwide, bringing the Aji-Ginisa® Veggie-licious Caravan to different schools to carry out taste tests, veg-ucation programs, and more. The Caravan will also roll out in key malls across the metro to introduce delicious veggie dishes kids will enjoy. The I Love Veggie-licious Movement is a part of Ajinomoto Philippines Corporation’s commitment to nutrition that does not compromise taste, access, and the local way of life. The company is doing this by developing comprehensive programs with likeminded organizations, and providing new products and services that address health and nutrition issues. Know more about the Aji-Ginisa® I Love Veggielicious Movement by visiting Cookmunity by Ajinomoto PH.

World Features

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

BusinessMirror

Tuesday, November 28, 2023

Dead, wounded or AWOL: The voices of desperate Russian soldiers trying to get out of Ukraine war By Erika Kinetz

The Associated Press

N audio intercepts from the front lines in Ukraine, Russian soldiers speak in shorthand of 200s to mean dead, 300s to mean wounded. The urge to flee has become common enough that they also talk of 500s—people who refuse to fight. As the war grinds into its second winter, a growing number of Russian soldiers want out, as suggested in secret recordings obtained by The Associated Press of Russian soldiers calling home from the battlefields of the Kharkiv, Luhansk and Donetsk regions in Ukraine. The calls offer a rare glimpse of the war as it looked through Russian eyes—a point of view that seldom makes its way into Western media, largely because Russia has made it a crime to speak honestly about the conflict in Ukraine. They also show clearly how the war has progressed, from the professional soldiers who initially powered Vladimir Putin’s full-scale invasion to men from all walks of life compelled to serve in grueling conditions. “There’s no f------ ‘dying the death of the brave’ here,” one soldier told his brother from the front in Ukraine’s Kharkiv region. “You just die like a f------ earthworm.” The prospect of another wave of mobilization lingers, even as Moscow has been trying to lure people into signing contracts with the military. Russia’s annual autumn conscription draft kicked off in October, pulling in some 130,000 fresh young men. Though Moscow says conscripts won’t be sent to Ukraine, after a year of service they automatically become reservists— prime candidates for mobilization. The AP verified the identities of people in the calls by speaking with relatives and soldiers—some of whom are still at war in Ukraine— and researching open-source material linked to the phone numbers used by the soldiers. The conversations, picked up in January 2023—some from near the longest and deadliest fight in Bakhmut—have been edited for length and clarity. Names have been omitted to protect the soldiers and their relatives. The voices in these calls are of men who didn’t or couldn’t flee mobilization. Some had no money, no education and no options. Others believed in patriotic duty. One worked in a meat processing plant, cutting bone. Another worked at a law firm. A third, who worked as a roofer and later at a supermarket company, had a string of debts and had defaulted on his utilities payments, records show. It is hard to say how representative these calls are of sentiment in Russia’s armed forces, but their desperation is matched by a spike in legal cases against soldiers in Russia who refuse to fight. What’s happening in Ukraine is “simply genocide,” the soldier in Kharkiv told his brother. “If this s--- doesn’t stop, then soon we’ll be leading the Ukrainians to the Kremlin ourselves,” he said. “ T his is just a huge testing ground, where the whole world is testing their weapons, f--- it, and sizing up their d----,” he went on. “That’s all.” But there are other voices, too, of men who remain committed to the fight.

“As long as we are needed here, we will carry out our task,” a soldier named Artyom told AP from eastern Ukraine at the end of May, where he’d been stationed for eight months without break. “Just stop asking me these stupid questions.” The Kremlin and Russian Ministry of Defense did not respond to requests for comment.

Soldier: ‘Bones, tears—all the same, they are the same as we are’ WHEN he finally got to go home, it came at a terrible price: his brother’s life. Nicknamed “Crazy Professor” because of his disheveled hair, he was swept up in the first days of Russia’s September 2022 draft. The soldier said he was assured that he wouldn’t see combat and would get to go home every six months. Neither turned out to be true. After a few weeks of training, the Professor was sent to the front line near Bakhmut as a mortarman. He wanted out almost immediately. He was ill-equipped, at least compared to the well-camouflaged Wagner soldiers wandering around. “They have night vision and automatic rifles with cool silencers. I have an automatic rifle from 1986 or hell knows what year,” he told his brother in a January phone call. It was his job to aim, but the Russian army’s coordinates were so sloppy that soldiers ended up killing each other. The Professor said his commander instructed them not to kill civilians, but who was a civilian and who was a combatant? Even a kid could carry a grenade, he told his brother. Where did the mortars he fired land? Had he killed children? The worst was when he was out with young guys in his unit. There was just a strip of woods between them and the Ukrainians. “I imagined that there, on the other side, there could be young people just like us. And they have their whole lives ahead of them,” he told AP in June. “Bones, tears—all the same, they are the same as we are.” The Professor told himself he didn’t really have a choice: Either fire the mortar or face criminal charges and end up in a pit or a prison. “If you don’t like something, if you refuse to do something, you’re considered a refusenik,” he told AP. “That is, you’re a ‘500’ right away. … So we had to follow orders. Whether we wanted to or not.” The Professor never thought he’d be a refusenik one day too.

The conversation THE Professor: The worst thing is that there might even be children there, you know. Brother: And what can you do. … You have your orders. … It seems to me that if it had been voluntary, you wouldn’t have gone. The Professor: You know, I’m glad about that. Plus, we did such a good job that they gave us a car. The downside is, you know, how many lives

were ruined for the sake of a car? Brother: Not of your own free will. The Professor: I’m already so tired. Brother: I believe it. Time to come home. I wish you could come home. Not so that you could come home but so that all of this could be over already. In the spring, as the Professor’s brothers drove down a road outside their hometown in Russia, a car made a U-turn into the side of their vehicle, sending it spinning as a semi bore down on them. One brother was killed. Another survived but now cannot walk, family members told AP. Desperate to go home to bury his brother, the Professor said he got approval from his commander for a 10-day leave. Military police in Russian-controlled territory in Luhansk let him through, he said, and he paid for his own taxi ride home. Once he got back to Russia, however, he was told he didn’t have the right paperwork. Not long after the funeral, the Professor got a message from his commanding officer: “What is happening there? Are you going to come back or stay there?” “I’ll collect the documents, and then we’ll decide everything,” he wrote back. Two hours later, around midnight, his commander responded: “I’m reporting you as AWOL, unauthorized abandonment of the unit. It was nice fighting together.” Now he faces up to 10 years in prison. He hired a lawyer. Months into a 10-day leave, he can’t even apply for an extension to legalize his stay and help his family because he doesn’t have the right documents. He said his brother can move around on his arms and mostly get into his wheelchair by himself, but can’t function independently. People from the military came to his home, he said. Terrified they’d arrest him if he went outside, he passed documents attesting to the dire state of his family’s health to them through the window. His lawyer told him to look on the bright side. “You are the only, well, how do I put this … at least, you’re the only healthy person here.” His mother is at the end of her endurance. “I write everywhere, I call everywhere, too. Because he was told that he has to return to his unit,” his mother told AP. “But how can he leave his brother? I have no one.” Now, the Professor has visions of dead people. They stare back at him. He can almost hear them walking nearby. Sometimes he bolts awake at night, sweating, or dives under the covers at the sound of a whistle. He wants his old life back, that sweet time he had with his wife and baby. He has picked up some roofing work at construction sites, and his neighbor proposed a new side job: digging graves.

Artyom: ‘Everybody’s f…… mad, f…… gloomy as hell’ ARTYOM left behind a string of debts in Russia. Things got even worse in Ukraine, where it was so cold he couldn’t wash his underwear and his lighter kept freezing. “It’s not like I’m having any f----- fun here, day in day out. It’s been f------ four months already,” he told his wife in January. “Everybody’s f------ mad, f------ gloomy as hell.” It was New Year’s Day, and the Russians were getting bombarded by Ukrainians and not even firing back, he said. “Yesterday we were f------ bombarded, for f---’s sake, we didn’t

even get a single shell out, not a single f------ shell,” he told his wife. The war seemed senseless to him. Why wasn’t Putin satisfied with Crimea? What business did they have trying to take Kharkiv and Kyiv? Why was everyone lying about how great things were at the front? No one was saying the one thing he wanted to hear: that he could go home.

The conversation ARTYOM: Yesterday we were listening to the radio and someone f------ said, “the situation with mobilized soldiers is f------ wonderful.” I don’t know who the f------ idiot is who said that. “Only five thousand people died.” Wife: Mhm. Of course. Artyom: F------ s---heads. I think half of them are probably gone at this point. Wife: Right. Artyom: Five thousand people my ass. Artyom doesn’t have much sympathy for draft dodgers and deserters, though he can see the wisdom in making a run for it. “That’s what you have to do, given the chance,” he told his wife. “This is not the best f------ place to be … But then they’re gonna say you’re a f------ freak who ran away. I don’t f------ need that.” He told her he’ll stay put and follow orders. “If God wills it so that you’re gonna f------ die, you’re gonna f------ die, can’t do much about it.” The AP reached Artyom by phone at the end of May. He was still in eastern Ukraine, where he’d been serving for eight months without break. Artyom said he’d been “a little worn out mentally” when he was speaking with his wife. He said he loved his family before the war and loved them even more now. He regrets he didn’t spend more time with them. “I have to save the guys who are with me in the trenches—and myself,” he said. “That’s what I want to do. And to put down the Ukrainians faster and go home.”

Roman: ‘I already feel more pity shooting a bird than a person’ AFTER two months on the front lines north of Bakhmut, Roman had some advice for his friend and former colleague back in Russia: Avoid this war any way you can. “I’m telling you honestly, if there’s even a slight chance, get exempted from service. But if the summons comes for mobilization, f--- it to hell. Join Wagner or the contract soldiers, or wherever you can. God forbid the mobilized. The mobilized are the lowest.” Roman explained that professional contract soldiers are taken care of: They get to go on leave, launder their clothes and bathe. They don’t have to struggle for food and water. Meanwhile, mobilized soldiers like him are shoved in trenches with men from all walks of life, some of whom don’t even know how to hold guns. They never get to leave, and their commanders—“weak wusses,” he says—aren’t much help. He’s had to buy night vision goggles with his own money. There’s not enough to eat and no clean drinking water. Soldiers are licking at snowflakes and scooping up rainwater to drink. He said he lost 30 kilos (over 60 pounds). The diarrhea hasn’t helped. “It came to the point that there were puddles, it had rained, and the guys scooped up all the puddles and drank,” Roman told his friend. “Snow fell, f------ s---, and the snow didn’t even reach the ground, the guys caught it and ate it.” When he arrived in Ukraine in

November 2022, Roman was part of a unit of 100 men. By early January, about a third were gone. Roman said he’s been lucky twice. Once he got food poisoning and stayed back while a group of scouts went out. They never came back. Another time, he was carrying water and tripped and fell just as a shell landed, killing others nearby. Surrounded by a horseshoe of Ukrainian troops, Roman said it was like being on the tip of a toilet seat, in constant fear that their supply lines, thin as they were, would get cut off. Roman had to scoop a man’s guts back into his body—an act that didn’t save the guy’s life. Another time, he went out to defecate in a field, and tanks started firing around him. He just kept squatting till he was done. After two months of living like this, so scared you’ll shoot at the softest sound in the dark, even the strongest minds started to fray. “We survive because we are on edge all the time,” he said. “Even guys from our own side don’t come close, especially at night. When we are on duty, we warn everyone that we will shoot at anything that rustles.” Roman said his cousin was killed by a shell that took out a dozen soldiers. His family managed to get his body—or at least half of his body— back to Russia, but the other 11 soldiers lay unclaimed in Ukraine. It wasn’t just the killing that did people in, it was the sense that they’d been forgotten.

The conversation ROMAN: Our group is made up of guys who are sufficiently strong, morally, and guys like that. It was the first wave. Guys came together that are sufficiently patriotic, roughly speaking, who knew what it was to fight. After two months, they start to lose it. For many of them, their psyche was broken. Friend: Yeah, I understand, all of the killing of course. Roman: Yes, the killing is everywhere. A f------ lot of corpses. Some were stabbed with a knife, but that’s not the point. Psyches are not broken because of this. These are people who are professionals, it’s our national army, these professionals come to our position. ‘F---, it’s f---- up here.’ They turn around and leave. That is, they are replaced, they have rotation, they are given leave, their clothes are washed and ironed, they wash in the bathhouse, they have no problem with food, they have no problem with water. It’s not like this for us. It once came to the point that there were puddles, it had rained, and the guys scooped up all the puddles and drank. The “depressing, horrible” panic that attacked him at the beginning of his tour has subsided. The calls home help. One night, Roman got pulled into a special mission. They snuck into a Ukrainian dugout, knives drawn, hacked up a bunch of men and captured a Ukrainian officer for questioning. Death was everywhere, on both sides of the front. “F---, I already feel more pity shooting a bird than a person,” Roman told his friend. Contacted by the AP, both men declined to comment.

Andrei: ‘The mobilized are not considered humans’ AFTER four months in Ukraine, Andrei concluded that his life meant nothing to Moscow. Called up for military service from a small town in Russia’s far east, he soon found himself in eastern Ukraine’s Donetsk province, on the southern approach to Bakhmut. Andrei’s unit was taking heavy losses, and no one was even shoot-

ing back at the Ukrainians, he said. People were dying from friendly fire. Mobilized men like him were being forced to sign contracts. “The mobilized are not considered humans,” he told his mother. “No one gives a damn about us. They think that for 200,000 (rubles) we should die here.” Mutiny was in the air.

The conversation ANDREI: Our boys are dying for nothing. It’s nonsense, I tell you. This is not a war at all. When I come back, I’ll tell you what’s going on here. It’s all bull----. I’m telling you, our boys are dying, going 300, and no one even shoots back. It’s all nonsense. Our artillery is hammering our own dugouts, not theirs. What is that? Mother: What for? Andrei: They, like, miss the mark.…Here, if they don’t get you, your own will. Mother: (Inaudible) Andrei: I’m telling you, you just start going nuts here, like everything pisses you off. Because you can’t do s--- about it. Nobody gives a s---. It’s a half year and that’s it. F--- them. If they don’t relieve us, if they don’t pull us out, the whole company will just walk away. They can’t put a crowd of 100 people on trial. Mother: They have no right to keep you longer. Andrei: No one gives a damn here. We were told the other day that they forgot about us a little bit here. But they didn’t just forget about us— they f----- us. Mobilized soldiers like him are treated worst of all, he told his mom. They’re not allowed to leave—even if they get injured—because commanders fear they’ll never come back. Andrei: Well, our guys are getting killed in droves. Mother: Judging by what I — Andrei: I’m telling you. In droves from our side. If a contract soldier is wounded, he’s sent home. If a mobilized soldier is wounded, they treat him, patch him up a bit, and tell him to go the f--- back, why the hell are you dodging? All in all, if you get sick here, you will not be sent home. They won’t give a damn, and you’ll die in this pit where you live in. You can’t get sick here at all. Mother: Better not get sick. (Inaudible) Andrei: This is how s--- works here. As long as you are useful, they like know who you are. And when you become useless, then nobody needs you. They forget about you. He said the only reason he’s still alive is luck and regrets finding himself at war. “This is my only mistake in life,” he said. “I will not fall into the same trap twice.” “God gives you one chance,” his mother responded. “God willing, you’ll come home.” In September, Andrei’s mother told AP her son was home, keeping himself busy with his family and collecting pine cones from the taiga. She said she was born in Ukraine and her mother still lives there. She said it pains her that Ukraine is now filled with “traitors and fascists.” “I hate your current rulers,” she said. “Are you blind or stupid? Or can’t you see that there are no normal people? Or do you want your children to turn into monkeys, like in America? What is this? I don’t recognize my homeland, where I was born and went to school.” AP reporters Lynn Berry in Washington and Alla Konstantinova in Vilnius, Lithuania, contributed to this report. Students from the Russian translation and interpretation program at Middlebury Institute of International Studies also contributed to this report.

Sports

Just like Rooney’s

BusinessMirror

B8 | T

uesday, November 28, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Manchester United winger Alejandro Garnacho scores an acrobatic wonder goal in the Premier League on Sunday off a bicycle kick that revives memories of a similar strike by Wayne Rooney in a Manchester derby 12 years ago. With his back to goal, Garnacho, 19, meets a deep cross from near the byline by Diogo Dalot with a flying overhead kick that sends the ball beyond Everton goalkeeper Jordan Pickford and into the top corner of the net at Goodison Park. United won, 3-0. The goal had echoes of Rooney’s famous overhead kick against City in 2011 that secured a 2-1 win at Old Trafford. AP

Road cycling 2024 nationals flag off February in Tagaytay

HE PhilCycling National Championships for Road 2024 will be staged at an earlier schedule from February 5 to 9 with Tagaytay City as the main hub anew. This was announced on Monday by PhilCycling and Philippine Olympic Committee president Abraham “Bambol” Tolentino, who added qualifiers for the Nationals will be based on major domestic and sanctioned races in 2023. “The early schedule is to provide our national coaches more window to prepare for the 2025 Southeast Asian Games and the 2026 Asian Games, which, for the first time, will be setting up qualifying events not only for cycling but all sports,” Tolentino said. Tolentino also stressed that the PhilCycling will strengthen the national track team for men and women as the federation looks forward to an indoor 250-meter

Quezon City, Iloilo, Baguio 1-2-3 top bike-friendly cities of 2023

It’s never easy being an elite athlete, ask EJ By Josef Ramos

ALYSSA VALDEZ: We still have lapses and we have to work harder in training.

WENTY-SEVEN days before Christmas, three months before his first competition for 2024 and another five months after that before the Paris Olympics and Ernest John “EJ” Obiena just couldn’t set aside his pole vault even for a day or two. “What rest? What easy? Off season is tougher than competition days,” Obiena, the world No. 2 men’s pole vaulter, told BusinessMirror on Monday. “You need to train most of the time during the off season.” Training started for Obiena and his legendary Ukranian coach Vitaly Petrov last October 22 in their Formia facility. The newly-minted Asian Games

Cool Smashers take on Crossovers

REAMLINE and Chery Tiggo clash Tuesday in what could be a preview of the Premier Volleyball League All-Filipino Conference semifinals at the PhilSports Arena in Pasig City. Coaches of both sides face the dilemma of whether to rest key players or go all out to secure a win and maintain a psychological edge as they could potentiall meet again in the semifinals—or in the finals—of the season-ending conference organized by Sports Vision. Creamline, unbeaten in eight games, aims to continue its streak, while Chery Tiggo, with a sevengame run marked by thrilling five-set victories in its last two outings, seeks to carry its momentum to the posteliminations play. Game time is at 6 p.m. With Choco Mucho also in the semifinals, the battle for the last

spot is being disputed by Cignal (7-3), Petro Gazz (6-4) and PLDT (5-4). But the HD Spikers have the inside track with the winless Gerflor Defenders as their final eliminations opponent on December 5. But a reversal could lead to a scramble with PLDT and Petro Gazz set to knock each other out, also on December 5. Despite their pristine record, Creamline skipper and multi-titled Alyssa Valdez stressed the need for hard work, acknowledging areas for improvement. “We still have lapses and we have to work harder in training,” she said. But Michele Gumabao’s consistent performance coupled with those of Tots Carlos and Jema Galanza’s have kept the Cool Smashers on top of the heap with Valdez also providing leadership during crucial moments.

champion and record holder in Hangzhou had the luxury of a close to two weeks of vacation in the country before flying to Dubai not for another week of R&R but a hectic routine on specialization and conditioning training. “There are more training activities than rest while in the off season, and it’s more grinding than the usual competition days because you’re putting a foundation for the next season,” said the three-time Southeast Asian Games gold medalist. First up for Obiena in the incoming indoor season is the Glasgow World Indoor Championships from March 1 to 3 in Scotland—but his team is pondering a competition in February to get things fully rolling for Paris. “For now, I just want to improve everything. I don’t want to commit

anything next year, I just want to improve, and that’s the target,” he said. “I just want to apply what needs to apply and be consistent, generally.” Obiena hits the track in Formia on a regular basis but does gymnastics training routines, a skill vital as he needs to twist and contort his 6-foot2 frame over the bar set almost two floors above ground. “From the smallest to the biggest details we target in training during the off season. We need to train physically and mentally…we have to strengthen every muscle and master all the routines,” he said. “This is the only time when you can fully focus on your technique,” he added. Obiena, however, won’t say if he’s been making 6.0 meters in training, a height he cleared twice this year to

Elite teams coming in by batches for world beach volley in Nuvali

LAYERS from 17 of the more than 30 countries seeing action in the Volleyball World Beach Pro Tour (BPT) Challenge have arrived on Monday—three days ahead of the elite beach volleyball competition set on five brand new world-class sand courts in Nuvali in Santa Rosa City. They are Japan, Canada, USA, China, Japan, Brazil, Spain, Austria and Poland and the men’s squads from Turkiye, England, Australia, Ukraine, Italy, Lithuania, Portugal and Finland, according to host Philippine National Volleyball Federation (PNVF) president Ramon “Tats” Suzara. “It’s world-class beach volleyball action all of four days,” said Suzara, who thanked Ayala Land for partnering with the PNVF through the five competition and one warmup courts in sprawling Nuvali. Tickets are available at vw. ticketmax.ph pegged at P100 for morning sessions and P200 for

afternoon sessions. Tickets will also be available onsite starting Thursday. The qualification matches for men and women are set from 8 a.m. to 6 p.m. on Thursday, while the main draw on Friday starts at 9 a.m. with the final match at 9 p.m. Saturday and Sunday are for the round of 16, quarterfinals, semifinals and finals of the tournament that caps the PNVF’s busy 2023 calendar and supported by gold sponsors Ayala Land, Mikasa, Senoh, Philippine Sports Commission, Pinay In Action and Smart as gold sponsors and PLDT, Gatorade, Maynilad, Rebisco, Ayala Malls, Department of Tourism, CBPI, Club Laiya, Foton as bronze sponsors. The Philippines, under Brazilian coach Joao Luciano Kiodai and Mayi

Ironkids-RLC forge partnership for Cebu, Davao legs

RONKIDS and RLC Residences recently sealed a strategic partnership for 2024 with the residential arm of Robinsons Land Corporation serving as title sponsor of the Cebu event in April and the Davao race in August. “It is a privilege for us at RLC Residences to be the title sponsor of Ironkids Cebu and Davao this 2024,” said Karen Cesario, Marketing Head and Chief Integration Officer of RLC Residences. “When this opportunity came to us, we really didn’t think twice because what Ironkids stands for is the same as what we believe in

investing in a promising future.” Cesario added: “Together, we are confident that we can empower young athletes to live an even more active and purposeful lifestyle.” RLC Residences has been a steadfast supporter of the Ironman events since its first race in Cebu in 2012. The brand’s enduring commitment to raising the game by promoting an active lifestyle aligns seamlessly with the ethos of Ironkids. By joining forces, both aim to create a more vibrant future and nurture sportsmanship for young athletes.

RLC Residences Brand Operations Head Kristynne Tan (left) with (from left) Ironman Philippines General Manager Princess Galura, RLC Residences Marketing Head and Chief Integration Officer Karen Cesario, Bob the Bear of RLC Residences and RLC Residences Brand Management Head Dan Carlo Torres.

velodrome that would soon rise in Tagaytay City. The results of the Philippine National Games (PNG) and Batang Pinoy next month also in Tagaytay City are part of the criteria for qualification for the National Championships. Competitions will again be in Criterium, Individual Time Trial and Individual Road Race for Men and Women in Youth (under 16), Juniors (17-18), Under 23 and Elite categories. The top 10 finishers in each of the events in the 2023 Nationals are seeded to next year’s Road championships as well as the top 25 in December’s PNGBatang Pinoy races. The top 25 riders in the sanctioned races in 2023 will also be accorded ranking points for consideration for the National Championships which will set a maximum of 90 riders in the Individual Road Race and 60 cyclists each in ITT and Criterium for all categories. The list of qualifiers will be announced immediately after the PNG and Batang Pinoy.

A FAMOUS athlete once said “in training, it’s 99 percent perspiration and 1 percent inspiration” and come competition time, “it’s 99 percent inspiration and 1 percent perspiration,” and Ernest John “EJ” Obiena is doing that. become the 26th member of an elite club of high fliers. That’s dedication and discipline for Obiena, who was the first Filipino to earn a ticket to the July 26 to August 11 Paris Games when he cleared the qualifying standard of 5.82 meters last July 2 in Stockholm. How about Christmas? Or New Year? Maybe a very short break, he said.

Molit-Pochina, has Ran Abdilla and Jaron Requinton, James Buytrago and Rancel Varga, and Alche Gupiteo and Anthony Arbasto competing in the men’s contest and Gen Eslapor and Dij Rodriguez and newbie Sofia Pagara and Khylem Progella in the women’s division. There are 16 teams in each of the men’s and women’s main draw while 32 teams are vying in the qualification round also for each gender. Also expected are elite beach volleyball players from The Netherlands, Switzerland, Czech Republic, Germany, Estonia, Oman, Thailand, Latvia, New Zealand, Israel, Gambia, Morocco, Malaysia and Slovakia.

USHU Federation Philippines secretarygeneral Julian Camacho and members of the national team that saw action in the recent 16th World Wushu Championships will be gracing the Philippine Sportswriters Association weekly Forum Tuesday at the Conference Hall of the Rizal Memorial Sports Complex. Camacho, vice president of Wushu Federation of Asia and recently re-elected member of the International Wushu Federation, will talk about the team’s campaign in Fort Worth, Texas, that saw the Filipinos win one gold, four silver

UEZON City, Iloilo City and Baguio City were hailed recently as this year’s top three most bicyclefriendly cities in the Philippines by the Mobility Awards. This year marks the third installment of the Mobility Awards and the first time that all Philippine cities competed, including Metro Manila. The previous round in 2021 focused on cities outside the Metro. “The progress in terms of bicycle infrastructure and programs in cities, offices and establishments are more prominent this year,” said Mobility Awards National Coordinator Arielle Celine Tabinga. “The one-year gap in 2022 provided us a good picture of these developments.” The Medical City in Pasig City and the main office of the Government Service Insurance System in Pasay City—both recognized in 2020— bagged the Gold rating, while the Cebu IT Park, an awardee in 2021, clinched the Silver rating as this year’s most bicycle-friendly workplaces in the country. The most bicycle-friendly large commercial establishments are Bonifacio High Street in Taguig City with a Gold rating, SM Mall of Asia in Pasay City and Megaworld Iloilo Business Park in Iloilo City with a Silver rating each. For stand-alone businesses, the Magdamag Cafe in Quezon City and Kape Urban in Mandaluyong City were rated Silver and Natoy’s Best Bibingka and Kakanin in Davao City rated as Bronze awardee. Also recognized were individual cyclists through the Padyak Power to the People! categories. They were delivery riders Sarah Francesca Aguja and Arnold Samiano De Luna of GrabFood and Junius Arellano of Foodpanda under the Padyak Champion category and small business owners Michael Dumasig, Mheeka Orsal and Myla Buenaventura in the Siklista ng Bayan awards.

Wushu official PSA Forum guest and one bronze medals. The gold was courtesy of The duilian men’s trio of Mark Lester Ragay, Mark Anthony Polo and Vincent Ventura won the lone gold medal. The 10:30 a.m. session is presented by San Miguel Corp., Philippine Sports Commission, Milo, Philippine Olympic Committee and the Philippine Amusement and Gaming Corp. The Forum is livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and aired on a delayed basis over Radyo Pilipinas 2, which also shares it on its official Facebook page.