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www.businessmirror.com.ph Banking&Finance BusinessMirror Editor: Dennis D. Estopace• Tuesday, October 5, 2021 B3

Five strategies for diversifying your financial portfolio

ArE you currently experiencing fluctuations in your investments? Are you a trader or an investor?

These are the usual questions that we ask fellow investors this season. Because of the changes in the economic landscape, we are always emphasizing the importance of a diversified portfolio.

We always hear the phrase: “Do not put all your eggs in one basket” to manage risks and maximize profit.

Diversification is about having variety of investments. If we invest in vehicles that are not directly correlated, we can be more comfortable because if one asset class is not performing well, there’s a chance that the other assets will perform better. We should remember that investing is about discipline and strategic thinking, this concept will help you become wise in deciding where to invest.

Here are five steps that can help you achieve a diversified portfolio.

1. Know the risks of asset

classes.

Each type of an investment has an inherent risks-and-reward ratio. For example, investing in the stock market or crypto-currencies brings more reward but, at the same time, it can also fluctuate high compared to other investment types such as money market funds, bonds or real estate.

Understanding the potential movements can help you decide if how many percent you will allocate in a risky type of asset. A classic example is dividing your portfolio into three asset type, let’s say you allocate 33 percent each for conservative, moderately aggressive and aggressive type of fund. This will bring in more security for you.

2. Consider Peso-cost averag-

ing.

Add to your investments on a regular basis. If you have P10,000 to invest and consistently add the same amount on a monthly basis, you’ll buy more shares when price are low and fewer when prices are high. Steady investing can help you build your investment volume over time.

3. Set your entry and exit

point.

In every type of investment, setting parameters will help guide us when to capitalize profits and mitigate losses. If you’re new to investing, setting sell or buy signal through fundamental and technical analysis can help you make a sound decision.

You may also get insights from seasoned investor but having your own conviction can help you grow in timing the market and aligning it with your goals and timeline.

4. Rebalancing allocation after five years.

Every time our life season changes, we may also consider rebalancing our portfolio allocation. For example, if you are single and have minimal responsibilities, you may take a more

Karlo Biglang-awa personal Finance

aggressive allocation to maximize returns. For someone who has a family and kids going to college, consider a moderate aggressive and conservative type of investments allocation to maintain the value of investments. Always check your season and goals to avoid losing your hard-earned money.

5. Study your options.

Choosing which platform suites you will entail additional time to study the pros and cons of asset types. Here are quick summary of asset classes.

1. Stock market

Investing in the stock market can be direct or indirect. Direct investing means that you will be the one to buy and sell your stock pick through online or traditional brokerage firms. If you are investing in stocks, it is considered a high risk, high return type of investment.

2. Real estate

real estate is a type of asset that is lesser aggressive than the stock market. The value of properties increases over time and the demand is consistent depending on the location and development type. If you are planning to create passive income in the future, this can be a suitable type of investment for you.

3. Real Estate Investment Trust (REIT)

A rEIT is a company that has income-generating real estate through rental properties. It is like mutual funds; rEITs pool the capital of numerous investors. This makes it possible for individual investors to earn dividends from real estate investments without having to buy, manage, or finance any properties themselves.

Here in the Philippines, rEITs are becoming famous because of the numerous launching since last year of major developers such as Ayala Land, Megaworld, Double Dragon and robinsons Land. This can be accessed through online brokerage platforms.

4. Life insurance

Getting an insurance plan is one of the cheapest asset. once you are covered with life, accident or health benefits, the company will shoulder the risks related expenses to avoid depletion of your savings and investments in other asset types. An adequate coverage can help you achieve a protection for your family in case of unforeseen life events.

Karlo Biglang-Awa is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 92nd RFP program this October 2021. To inquire, e-mail info@ rfp.ph or text at 0917-6248110.

Treasury fully awards ₧15B in T-bills despite high rates

By Bernadette D. Nicolas @BNicolasBM

HIGHER inflation expectations pushed rates up across the board on Monday’s auction of Treasury Bills (T-bills).

Despite the uptick, the Bureau of the Treasury still fully awarded P15 billion in T-bills.

The auction ended up nearly four times oversubscribed as it attracted P56.36 billion in total submitted bids.

National Treasurer rosalia V. De Leon told reporters that upward movement in rates can be attributed to the expected rise in inflation.

However, De Leon pointed out that the rates fetched by debt papers with longer tenors, especially the 182-day and 364-day T-bills, did not move that much.

The Bangko Sentral ng Pilipinas (BSP) earlier said inflation is expected to average 4.4 percent this year, an upward adjustment from the 4.1 percent in August.

The inflation accelerated to 4.9 percent in August from 4 percent in July. This is the highest inflation recorded since January 2019. With the August inflation, the country’s average 8-month inflation rate stood at 4.4 percent.

The BSP revised upwards its inflation forecast from 3.1 percent to 3.3 percent for 2022. For 2023, inflation is expected to average at 3.2 percent from the earlier 3.1 percent the BSP projected.

The 91-day T-bills’ average rate was capped at 1.085 percent, rising by 2.5 basis points from the previous auction’s 1.06 percent. Tenders for the tenor reached P13 billion.

Meanwhile, the 182-day T-bills fetched an average rate of 1.391 percent, higher by 0.6 basis points from 1.385 percent. Bids for the security amounted to P22.42 billion.

As for the 364-day T-bills, the average rate stood at 1.584 percent. This was a slight increase from 1.582 percent. The debt paper registered P20.93 billion in bids.

For this month, the Treasury is aiming to raise P200 billion from the local debt market.

This year, the national government programmed to borrow a total of P3.1-trillion, most of which is expected to be raised from the local debt market.

The government borrows to meet its spending requirements as well as to finance its budget deficit.

As of end-August this year, the national government’s outstanding debt has hit a new record-high of P11.64 trillion, up by more than a fifth from P9.62 trillion a year ago.

Govt lender approves ₧5.6-B borrowing for MSMEs

By Tyrone Jasper C. Piad

@Tyronepiad

THE Small Business Corp. (SB Corp.) announced it has approved P5.634-billion worth of borrowings for local micro-scale, small and medium enterprises (MSMEs) adversely affected by lockdown measures the Duterte administration used as response to the Covid-19 pandemic.

In a briefing last Monday, SB Corp. Board Director Voltaire Magpayo said these approved borrowings benefited 56,421 applicants. The figures are as of September 27.

According to Magpayo, the loans extended were under the government financial institution’s microfinancing program.

He said the lending window caters to MSMEs across the country who need financial assistance amid the pandemic. Magpayo added that the program allows businesses to borrow funding without interest and collateral; they are also provided grace period.

The program originally drew P1 billion in funds from the 2021 General Appropriations Act and P4 billion through republic Act 11494.

But as the loan facility is getting maxed out, Trade Secretary ramon M. Lopez previously said they have secured additional funding to continue lending to MSMEs. As such, Lopez encouraged the small businesses to still apply for loans to plug budget leaks and keep operations running.

Meanwhile, Magpayo said that SB Corp. and parent agency the Department of Trade and Industry (DTI) are still ironing out some details of the shipping-loan facility for exporters.

Previously, Lopez told the BusinessMirror that SB Corp. will soon start accepting applications for the shipping loans, which is payable up to 90 days from shipment date.

The trade chief said the Export Development Council requested for the financing program, eyeing borrowers from exporters who are ready to ship their products.

The SB Corp. official said the lending window will allow exporters in financing the demurrage fees— charged by the port authority to a shipping line when the loaded containers are not transported within the given laytime—and other costs.

In June, SB Corp. and the Alliance of Concerned Truck owners and organizations (ACToo) inked a memorandum of agreement, extending a loan program to qualified truck owners as aid to the logistics sector’s recovery. over 2,000 ACToomembers may apply for loans which are not subject to interest and collateral. Those who can submit financial statements may secure loans amounting to P600,000 to P5 million, while those without may apply for borrowings between P10,000 to P200,000.

Last month, Deputy Speaker for Trade and Industry rep. Weslie Gatchalian filed a resolution to hike the budget of the DTI by P1.6 billion to further assist MSMEs amid the closures due to mobility restrictions. The Trade department and its attached agencies have been allocated P23.7 billion for next year’s budget.

Customs to donate seized face shields, masks to DOH

THE Bureau of Customs (BoC) is set to donate seized face shields and face masks to the Department of Health (DoH).

Customs Commissioner rey Leonardo B. Guerrero said they are already in the process of turning over about 11,500 face shields, 7,000 pieces of surgical face masks, 19,000 pieces of children’s disposable face masks and 12,000 pieces of disposable adult face masks. These goods were seized in the Port of Manila.

Aside from these, a forfeited 40foot container of various medical supplies and equipment stored in the Port of Davao would also be donated to the Southern Philippines Medical Center in Davao City, according to the BoC official.

Guerrero also said they have already donated cellular phones, laptops, educational materials and other seized goods to the Department of Education (DepEd) and other government agencies.

The cellular phones and laptops from the Pork of Clark in Pampanga were turned over by the BoC to the Deped last January while learning packets from the port of Ninoy Aquino International Airport were donated last March.

From March 2020 to August this year, the BoC said in a report it has also turned over abandoned or confiscated broadcasting equipment, food items, temporary shelters, face shields and various medical supplies and equipment to government agencies.

“rest assured that the process of donation and turnover of the items for donation are being expedited in compliance with existing laws, rules and regulations,” Guerrero said.

The BoC also donated to the Presidential Communications operations office (PCoo) in october last year abandoned broadcast equipment from the Port of Davao. Guerrero said the agency also donated 17 packages of live broadcasting room equipment with FM broadcast transmitter last July.

The BoC is also set to turn over to the PCoo a separate set of live broadcast room equipment and medium wave transmitter abandoned in the Port of Cebu.

Nine 40-foot containers and one 20-foot container of steel beams and accessories, 487 pieces of coated pipes and uncoated pipe tubes, 35 40-foot containers and a 20-foot container of steel parts seized in the Port of Subic were initially turned over by the BoC to the Department of Transportation. Guerrero said these are now in the process of being transferred to the Philippine Navy.

The official said the BoC will also turn over to the Navy three 20-foot empty containers located in the Port of Batangas.

The agency also turned over 40 boxes of face shields to the Department of Social Welfare and Development (DSWD) on July this year while a 40-foot container of Libby’s Vienna Sausage was also donated to the department on May 1, 2020. other seized goods turned over to the DSWD include ten boxes of assorted apparel from the Port of Iloilo last March and ten packages of canvas tents, with accessories and 2 units of stretch tents from the NAIA last August.

Eight drums of oil seized in the Port of Surigao will also be turned over to the Surigao city government, he said.

Bernadette D. Nicolas

Japan’s longest-serving finance chief bows out as officials seek post-Covid reboot

TAro ASo on Monday leaves his post as Japan’s longest serving finance minister in modern times.

He exits as the ruling party attempts to reboot with a new cabinet amid public dissatisfaction over its handling of the pandemic. Aso’s departure marks another step away from the Abenomics experiment that helped spur periods of economic growth, but couldn’t deliver sustained income gains or cut the aging nation’s massive debt pile.

After nearly nine years on the job, Aso is replaced by his 68-year-old brother-in-law, Shunichi Suzuki, a former olympics minister and ruling party lawmaker who helped install Japan’s new premier, Fumio Kishida.

Kishida, after winning a party leadership vote last week, said he wanted to appoint younger lawmakers to key positions, in an attempt to freshen up the government before national elections this fall. After being made prime minister on Monday, Kishida formed his cabinet and replaced the 81-year-old Aso.

In his final news conference as finance chief earlier Monday, Aso said his successor was an experienced policy maker who might do a better job of explaining things to the public than he had.

Aso himself had a short stint as premier between 2008 and 2009, but will be remembered more for his years as finance minister and deputy prime minister, first under former premier Shinzo Abe and then under Yoshihide Suga.

In that role, he coordinated the “Abenomics” policy with the Bank of Japan, which bought record amounts of government bonds as part of a stimulus program that drove down the currency and temporarily lifted inflation.

“You could say that he provided steady support for the Abe administration, by providing consistency within a long-term policy approach,” said economist Harumi Taguchi at IHS Markit.

The policy, however, didn’t succeed in getting the economy out of its slow growth or generating the sustained price gains promised.

Aso often criticized Japan Inc. for hoarding cash rather than boosting investment and wages, but failed to get much change to happen.

Kishida, for his part, has dangled the idea of a “new type of Japanese capitalism,” favoring redistribution and pay increases, but has only sketched the outline of how he’ll get it done. To pay for rising social security costs as Japan’s population aged, Aso oversaw two hikes in the sales tax that doubled the levy to 10%. The increases helped boost revenue, but also triggered recessions in 2014 and 2019.

Higher revenues also didn’t stop Japan’s budget deficit from widening even in years when the economy was expanding as the inevitable growth in social security costs drove up spending.

Japan Finance Minister Taro aso speaks before the Diet last July. BloomBerg News

Japan’s mountain

oVEr the near-decade that Aso has been in charge of Japan’s finances, government debt has risen to above 250 percent of gross domestic product. Even with central bank bond purchases keeping interest rates near zero, debt payments consume almost a quarter of the budget.

In his final year, Aso oversaw record borrowing as the world was hit by Covid-19. Three extra budgets meant an additional 80 trillion yen ($720 billion) of new bonds issued, adding to Japan’s already enormous debt pile. While it’s unclear whether Suzuki or Kishida might bring fundamental changes to economic policy, they will be left with the task of dealing with the country’s fiscal imbalances. The government has a goal of balancing its budget by the year ending March 2026. The target excludes the costs of paying for debt, but is still seen as unreachable this decade even by the government’s own projections.

The first order of business for Kishida’s new administration will be preparing for the upcoming election, and that likely means additional stimulus. Kishida has said that tens of trillions of yen must be spent in the near term to support the recovery. Economists including Masaki Kuwahara at Nomura Securities expect a stimulus package of about 30 trillion yen. Bloomberg News

B4

Tuesday, October 5, 2021 • Editor: Gerard S. Ramos

BusinessMirror

CELEBraTing its 52nd anniversary, the Cultural Center of the Philippines launched last week the Gawad CCP Para sa Sining Folio, which will be available in print and digital formats. The digital version can be downloaded for free at collections. culturalcenter.gov. ph/.

‘Pamana para sa mga susunod na henerasyon’

THE Cultural Center of the Philippines (CCP) introduced last week the Gawad CCP Para sa Sining Folio, the official publication of the highest award given by the premier art institution to deserving Filipino artists and cultural workers.

Set to be released in printed and digital formats, the folio contains citations, essays, photos, and notable works of the recipients of the 2020 Gawad CCP Para sa Sining for their outstanding achievements and contributions to Philippine arts and culture.

“This folio honors the impact these artists made to Philippine society,” said CCP chairperson Maria Margarita Moran-Floirendo during the virtual launch. “I salute the artists and organizations featured in this folio who deserve to be recognized for a job well done. This folio will greatly benefit the Filipino people, especially the young generation and the academe.”

The awardees of the 2020 Gawad CCP Para sa Sining featured in the folio were announced in July. The 14 recipients of the highest award bestowed by the Cultural Center of the Philippines include 12 individuals, a performing group and a publication.

The awardees are Rafael Catalino “Nonoy” Froilan for Dance, Raul M. Sunico for Music, Felix “Nonon” Padilla for Theater, Luis “Junyee” Yee Jr. for Visual Arts, Lualhati Bautista for Literature, Clodualdo “Doy” del Mundo Jr. for Film and Broadcast Arts, Cristina Turalba for Architecture, Kenneth Cobonpue for Design, Nestor Horfilla for Cultural Work and Research, the late Antonio Fabella for Dance, and the late Alice Guillermo for Cultural Research. Meanwhile, Danilo Dolor will receive the Tanging Parangal for the development and support of the arts.

The distinction was likewise conferred on the Integrated Performing Arts Guild (IPAG) for Culture of its Region, and Liwayway Magazine for Development of Philippine Culture.

“For the Gawad CCP 2020 awardees, we recognize Filipino artists who have remained loyal to their Filipino roots, drawing from tradition and the rich cultural experiences of the Filipino people,” said Chris Millado, CCP vice president and artistic director. “The solid commitment to Filipino artistry surely inspires the next generation of Filipino artists and audiences.”

The Gawad CCP Para sa Sining 2020 Folio contains 340 pages that narrate the life and present the works of the 14 awardees. The publication features original articles written by artist-scholars in English, except for one, and were then translated into Filipino by veteran teachers of Filipino language and literature.

For instance, architect-writer-editor Paolo Alcazaren penned the piece on Kenneth Cobonpue, titled “How Rattan Conquered the Art World,” which was then translated by Michael Coroza of the Ateneo de Manila University. Meanwhile, Luna Sicat-Cleto wrote the article about Lualhati Bautista, which was then translated by Eileen Narvaez of the University of the Philippines.

According to Kiko del Rosario, art director of the Gawad CCP Para sa Sining 2020 Folio, the publication also features QR codes that readers can scan to access videos about the awardees.

Continued on B5

Maria Taniguchi’s new work on view

SERIALITY tempts us to fixate on the most obvious deviations in Maria Taniguchi’s new work. In a suite of square canvases painted checkered, a portion stripped of paint or a section wherein color does not take, may mean disengaging from the illusion of symmetry or the body reaching its limit.

In both cases, pattern asks us to reckon with its gesture and technology of iteration. In Taniguchi’s work, each canvas is created using silkscreen, using a thin layer of paint. Labor and resource in these works persistently insist themselves in the attempts at repetition. The abstraction assured by the grid and achieved by the gradation is cultivated against considerations material and bodily.

It is within this framework that Taniguchi, in developing a set of paintings that comprise a singular work, articulates a method of engaging with space. The sequence of checkered canvases and the ambient purples of the unembellished paintings structure the main gallery space of Silverlens. For the artist, the paintings draw out the psychic character of materials: the checkered pattern foregrounds expectation and regularity, the atmospheric swatches play out variations of intensity and tempers mood, the color creates the experience of warm interiors.

The artist inhabits this space by way of pigment: a rich reddish violet used for landscapes and botanical illustrations and that makes for vivid shadows. Taniguchi’s practice is built on these fixations—these painstakingly careful considerations that allow the material, gesture, disposition to craft a method to abstraction that is conceptual as it is affective. The room’s scheme mimics the alternating pattern of the paintings, and with it, a spatial experience of seriality, something only palpable at a certain scale, a certain measure.

Maria Taniguchi’s new work will be shown from October 14 to November 13 at Silverlens Galleries, 2263 Don Chino Roces Avenue Extension, Makati City.

www.businessmirror.com.ph Today’s Horoscope zBy Eugenia Last

CELEBRITIES BORN ON THIS DAY: Kara Royster, 28; Jesse Eisenberg, 38; Scott Weinger, 46; Kate Winslet, 46.

HAppY BIRTHDAY: A compassionate approach to life, love and how you treat others will offer peace of mind and help you resolve matters that have been standing in your way. You may not please everyone with the decisions you make, but being true to yourself will be the passage to what’s best for you. Embrace the future with courage and an open mind. Your numbers are 6, 18, 24, 27, 31, 35, 48.

aARIES (March 21-April 19): Put everything in its place, and carry on until you reach your destination. Focus on your relationships with people who can help you get ahead. An unexpected opportunity will tweak your imagination. Consider the pros and cons before making a move. HHH

bTAURUS (April 20-May 20): Getting along with others will be necessary. Be a good listener, and show support for those who share your beliefs. Don’t feel you need to change to fit in; be yourself, and you’ll attract like-minded people. HHH

cGEMINI (May 21-June 20): Be objective, open and honest. Present the best point of view you can concisely, and people will listen. Mix business with pleasure, and friendships will sprout that will encourage a bright future, along with plenty of opportunities. HHHHH

dCANCER (June 21-July 22): Problems will develop if you are possessive or moody. Pay attention to how you look, and consider what you want to do before sharing with others. Be sure your plan is doable before you make promises. HH

eLEO (July 23-Aug. 22): Think about the message you want to send. Consider how someone you care about will feel or react if you are abrupt or pushy. A kind word will help you gain support; a demand will cause friction. Choose the path of least resistance. HHH

fVIRGO (Aug. 23-Sept. 22): Use your imagination, and you will come up with a plan that will help you achieve your goal. Run your ideas by those who may be affected by the decisions you make. Deal with matters upfront. HHH

gLIBRA (Sept. 23-Oct. 22): Express your thoughts and feelings, and follow through with your plans. Offer what you can to those in need, and participate in events that are similar in goals to your own. Keep your life and what’s going on around you in perspective. Don’t overreact. HHH

hSCORpIO (Oct. 23-Nov. 21): Keep things simple and under control. Too much of anything will lead to trouble. Curb bad habits and enforce a routine, diet and lifestyle that will keep you in shape and healthy. Follow the path that leads to personal growth. HHH

iSAGITTARIUS (Nov. 22-Dec. 21): Be demonstrative, express your thoughts and feelings, and do your best to care for matters that can determine your fate professionally. Take the initiative, and believe in your ability to outmaneuver any competition that comes your way. HHHH

jCApRICORN (Dec. 22-Jan. 19): Be cautious when dealing with a friend, relative or colleague. Don’t share personal information or make promises that might put you in a tight spot. Make a change at home that will ease stress. Avoid indulgent behavior. HH

kAQUARIUS (Jan. 20-Feb. 18): Concentrate on what’s important to you. A financial deal looks promising. Look for an investment that is solid and doesn’t require you to go into debt. Moderation and intelligence will lead to prosperity. Be honest about how you feel. HHHHH

lpISCES (Feb. 19-March 20): Pay attention to the way you present yourself to others. Update your image, and take a unique approach to friendship, life and romance. Say what’s on your mind, and stick to the rules and regulations. Live frugally and avoid overindulgence. HHH

BIRTHDAY BABY: You are expressive, persistent and compassionate. You are original and thoughtful.

ACROSS

1 Bypass 5 Ships that were measured in cubits 9 Warnings from Fido 13 Initial poker contributions 15 Emmy-winning comedian Love 16 Stir up 17 2-Down + 5-Down? 19 Name that anagrams to “Mary” 20 Pigpen 21 “Here’s the deal...” 22 Short-long metrical foot 23 Walk heavily 24 Fashion imprint 26 Respond to a job ad 29 Thing in the plus column 32 Pro shop pegs 33 Grassland 38 Actress Thurman 39 Eco-friendly org. 40 34-Down + 25-Down? 41 Debt letters 42 Trojans’ sch. 43 Abandon 44 Abbr. before a recipient’s name 45 Musical composition 47 ___ tooth (love of sugar) 48 Some online product services 51 Smoke duct 53 ___ gin 55 “Asteroids” consoles 57 Babysitter’s challenge 60 Middle of a planet 61 They sound more similar than they look...and are central to this puzzle’s theme 63 Austrian mountains 64 “It slipped!” 65 Greek I’s 66 Bottom of a statue 67 “What ___ is new?” 68 Letter format?

‘double cross’ BY DON GAGLIARDO

The Universal Crossword/Edited by David Steinberg

DOWN

1 French for “without” 2 Tree protuberance 3 ___-bitty 4 Princess’s annoyance 5 Audibly 6 Spreadsheet divisions 7 Prepare to pop the question 8 Better half? 9 They clash in battle 10 16-Across + 47-Across? 11 Unwavering 12 Chunk of bacon 14 In a cunning manner 18 Bloke’s bathroom 23 Start of a texter’s request, maybe 25 Cry loudly 26 Wolfed down 27 Cola wars side 28 45-Across + 60-Across? 30 Act theatrically 31 Jeer at 33 Cambridge sch. 34 Miss the mark 35 Org. that accredits law schools 36 Castellaneta who voices Homer 37 Like antiques 40 Crossing the Caribbean, say 44 Admiration 46 “Big” or “blue” follower 47 Dish served with wasabi 49 Lake partially in Nevada 50 Piano accompaniment? 51 Cold, pink cocktail 52 ChapStick target 53 Worker during a strike 54 “Whatever ___ Wants” (“Damn

Yankees” song) 56 Rock concert blasters 57 Fanatical about 58 Spiteful 59 (Over here!) 62 “I didn’t see that wall!”

Solution to today’s puzzle:

www.businessmirror.com.ph

BusinessMirror

Editor: Gerard S. Ramos • Tuesday, October 5, 2021 B5

Inside the happy heart of Ai-Ai de las Alas

SANYA LOPEZ and Alfred Vargas

ALDEN RICHARDS, SYLVIA SANCHEZ LEAD WINNERS IN 36TH STAR AWARDS FOR MOVIES

BY LEONY R. GARCIA

IN its 36th year, the Philippine Movie Press Club (PMPC) successfully crossed to a virtual awarding ceremony in line with physical restrictions due to the Covid-19 pandemic. Recognized were the best of films, actors, directors and other creatives of the movies shown in 2019.

Alden Richards bagged the Movie Actor of the Year award for his portrayal of an OFW bartender in Hello, Love, Goodbye. Sylvia Sanchez bested other actresses in the Best Actress category for her powerful portrayal as Jesusa in the movie of the same title.

This year’s recipient of the Nora Aunor Ulirang Artista Lifetime Achievement Award is veteran theater, film and television actress Angie Ferro, while the Ulirang Alagad ng Pelikula sa Likod ng Kamera Lifetime Achievement Award was presented to seasoned master director Elwood Perez who is celebrating his 50th year in the movie industry.

A joint production by the PMPC and the Film Development Council of the Philippines, the awards ceremony was made possible by the tandem of Winnie Magcalen Mariano and director Pete Mariano.

First-time awards hosts, actor-turned-politician Alfred Vargas and prized GMA actress Sanya Lopez, did their best hosting remotely from the compounds of MowelFund in Quezon City. Top-tier music talent added glitter to the show, led by Regine Velasquez-Alcasid, Jed Madela and Luke Mejares. The event was aired on September 26 at 6 pm via STV (Social TV) and the RAD streaming platform.

Here are the winners in the 2021 PMPC Star Awards for Movies: ■ MOVIE OF THE YEAR: Hello, Love, Goodbye (Star Cinema); Director of the Year: Cathy Garcia-Molina (Hello, Love, Goodbye); Indie Movie of the Year: Mindanao (Center Stage Productions); Indie Movie Director of the Year: Brillante Mendoza (Mindanao); ■ MOVIE ACTOR OF THE YEAR: Alden Richards; Movie Actress of the Year: Sylvia Sanchez; Supporting Actor of the Year: Ricky Davao (Fuccbois); Supporting Actress of the Year: Maricel Laxa (Hello, Love, Goodbye); New Movie Actor of the Year: David Licauco (Because I Love You), tied with Paolo Marcoleta (Guerrero Dos, Tuloy Ang Laban); ■ NEW MOVIE ACTRESS OF THE YEAR: Michelle Dee (Because I Love You); Movie Child Performer of the Year: Xia Vigor (Miracle In Cell No. 7); Movie Ensemble of the Year: the cast of Miracle In Cell No. 7, headed by Aga Muhlach; Indie Movie Ensemble of the Year: the cast of John Denver Trending, headed by Jansen Magpusao; ■ SHORT MOVIE OF THE YEAR: Forever (Adlibs Entertainment Corp., Institute of the Moving Image, Bandido Media Productions); Short Movie Director of the Year: Domingo Molina (Forever); ■ SPECIAL AWARDS—DARLING OF THE PRESS: Joed Serrano; Movie Loveteam of the Year: Kathryn Bernardo and Alden Richards (Hello, Love, Goodbye). EVERYBODY’S favorite funny woman Ai-Ai de las Alas has her hands full at this time, especially given that a new season of The Clash has just commenced.

It is the singing search program’s fourth season, and Ai-Ai reunites with her two other jury colleagues Lani Misalucha and Christian Bautista in the demanding duty to find the new singing discovery of GMA Network.

“Actually, it is not easy because our country never runs out of amazing singers, and every new season I am really surprised that the level of brilliance of those who wish to be discovered gets higher and higher,” she said, adding, “And this early I can tell you that those who made the cut do not only have wonderful singing voices but they are also lookers.”

The comedienne also told us that she believes that destiny plays a big role for whoever wins in any starsearch contest. “Of course, the journey of each and every contestant is valuable, and every performance determines who makes it to the next round, but come finals night, the one who is destined to win will win because he or she will sing the perfect song, wear the perfect outfit, be in his or her best elements to give the greatest performance of his or her life.”

Fate and destiny have also led Ai-Ai to decide to move to the United States in December, right after she finishes her commitments for The Clash. “I am firm in my decision, something that I have been pushing back for many years now,“ she said. Ai-Ai, who has been a green card holder since 2015, will have to stay put in the United States in order for her to start the petition process of her husband Gerald Sibayan, now a licensed pilot.

Gerald married Ai-Ai in a star-studded church wedding in December of 2017, three years after their May-December love story blossomed. After almost four years of being husband and wife, the comedienne admitted that her pilot husband has become sweeter, more mature and a true anchor. “He is my strength, and he continues to surprise me with his many ways of showing his love for me,” she gushed.

Ai-Ai added that her decision to focus on her husband has been well considered and planned. “It is just now that I am making time to be a wife to Gerald, to make him my priority. He has sacrificed a lot for me over the years, quietly supporting me in the sidelines, accepting my career decisions wholeheartedly. It’s about time that I reciprocate. That is why I am staying in the US for a few years to fix our papers.”

In the meantime, aside from working on the new episodes of The Clash, Ai-Ai has also set her sights on strengthening and expanding her online pastry business, which she has named Martina’s Pastries. She started taking baking classes at the Philippine Academy of Pastry and Culinary Arts, a high-profile learning center for would-be bakers and pastry chefs, elevating her passion for baking to another level. “I’m also in the process of training people who will oversee the business while I am overseas.”

She added, “I am enjoying being a student. I have turned to baking during the start of the pandemic

SPECIAL CHRISTMAS PROMO FOR POPULAR DIGITAL TV RECEIVER

THE gift of a brighter, more vibrant and even more affordable digital TV experience awaits viewers this holiday season.

Media giant GMA Network unveils a special Christmas promo as it offers GMA Affordabox (www.GMAaffordabox. com), with an SRP of P888, at a discounted price of only P799 from October 1 to December 31, 2021.

The network’s sought-after digital TV receiver allows viewers to enjoy superior quality viewing of their favorite shows and movies in GMA’s six digital channels—GMA, GTV, Heart of Asia, Hallypop, I Heart Movies, and DepEd TV—as well as other available free-to-air channels in digital broadcast, depending on their areas.

For an elevated entertainment experience, GMA Affordabox also offers great features that suit every user’s viewing habits. The Personal Video Recorder feature lets users record programs so that they can watch and re-watch highlights of their favorite GMA shows. With the multimedia player, users can watch videos, listen to music, and view photos. GMA Affordabox also has a functional auto-on alert feature and a nationwide Emergency Warning alert feature and a nationwide Emergency Warning Broadcast System that receives alerts from the Broadcast System that receives alerts from the NDRRMC about calamity warnings.

For the discounted price, with no monthly For the discounted price, with no monthly fees, GMA Affordabox is clearly the perfect fees, GMA Affordabox is clearly the perfect gift idea this Christmas. It may be purchased gift idea this Christmas. It may be purchased in appliance stores and malls, or online via in appliance stores and malls, or online via the official GMA Store web site as well as on the official GMA Store web site as well as on Shopee and Lazada.

DINGDONG DANTES promotes GMA Affordabox.

SCARLETT JOHANSSON, DISNEY SETTLE LAWSUIT OVER ‘BLACK WIDOW’

BY ANDREW DALTON The Associated Press

LOS ANGELES—Scarlett Johansson and the Walt Disney Co. on Thursday settled her lawsuit over the streaming release of Black Widow, bringing a swift end to what had begun as the first major fight between a studio and star over recent changes in rollout plans for films.

Johansson filed the lawsuit in Los Angeles Superior Court two months ago, saying the streaming release of the Marvel movie breached her contract and deprived her of potential earnings.

Terms of the deal were not disclosed, but the two sides released a joint statement in which they pledged to continue working together. to continue working together.

“I am happy to have resolved our differences with “I am happy to have resolved our differences with Disney,” said Johansson, who has played Natasha Disney,” said Johansson, who has played Natasha Romanoff a.k.a. Black Widow, in nine movies going Romanoff a.k.a. back to 2010’s Iron Man 2. “I’m incredibly proud of back to 2010’s the work we’ve done together over the years and the work we’ve done together over the years and have greatly enjoyed my creative relationship have greatly enjoyed my creative relationship with the team. I look forward to continuing our with the team. I look forward to continuing our collaboration.” collaboration.” Alan Bergman, chairman of Disney Studios Content, said he is “pleased that we have been able to come to a mutual agreement.” “We appreciate her contributions to the Marvel Cinematic Universe and look forward to working together on a number of upcoming projects,” Bergman said. The lawsuit said Johansson’s contract guaranteed an exclusive theatrical release, with her potential earnings tied to the box office potential earnings tied to the box office performance of the film.

But as it has with other recent releases since the coronavirus pandemic began, Disney released the film simultaneously in theaters and through its streaming service Disney+ for a $30 rental.

The rhetoric of the lawsuit and Disney’s response suggested a long and ugly battle was ahead.

“In the months leading up to this lawsuit, Ms. Johansson gave Disney and Marvel every opportunity to right their wrong and make good on Marvel’s promise,” the lawsuit said.

“Disney intentionally induced Marvel’s breach of the Agreement, without justification, in order to prevent Ms. Johansson from realizing the full benefit of her bargain with Marvel.”

Disney at the time said the lawsuit had “no merit whatsoever,” adding that it was “especially sad and distressing in its callous disregard for the horrific and prolonged global effects of the Covid-19 pandemic.”

Disney said the changed release plan “significantly enhanced her ability to earn additional compensation on top of the $20 million she has received to date.”

Delayed more than a year because of Covid-19, Black Widow debuted to a what was then a pandemicbest of $80 million in North America and $78 million from international theaters on July 9. But theatrical grosses declined sharply after that. In its second weekend in release, the National Association of Theatre Owners issued a rare statement criticizing the strategy.

Revised hybrid release strategies have occasionally led to public spats between stars, filmmakers and financiers who are unhappy with potential lost revenues and their lack of say in such strategies.

But none were as big or as public as Johansson’s lawsuit. as an outlet, an an expression of whatever creativity I have, and it has turned into a passion. Part of whatever I earn from what I produce, I save, and the rest I put it back in business,” she shared, adding that her ube pandesal remains a best-seller more than a year after it became a hit on the Internet.

Life has been good to the 56-year-old comedienne, host, live performance artist, mother and wife. Martina Eileen de las Alas-Sibayan credits her heart to everything good that is happening to her. “I always listen to my heart, and even if it has some scars from the past, it never lies. There are times it clashes with my mind but I always trust my instincts, and my inner voice emanates from my heart.” ■

‘Pamana para sa mga susunod na henerasyon’

CONTINUED FROM B4

“Sana po ay magustuhan ninyo ang Gawad CCP Para Sa Sining 2020 Folio,” said Dr. Nicanor Tiongson, editor of the publication. “Sana’y makapagbigay ito ng inspirasyon sa mga estudyante sa elementary, high school at kolehiyo, at sa lahat ng makababasa sa parangal na ito, Pilipino man o banyaga.”

Featured in the launch was a representative of the education sector, Maricel Padua Lopez, a senior high-school teacher of humanities and social sciences, or HUMSS. She said that the folio showcases the cultural richness of the country that should be promoted, especially among the younger generation.

“Kung kilala nila ang K-pop groups at American artists katulad ng BTS at ni Taylor Swift, dapat ay kilala rin nila ang sariling atin,” Lopez said. “Ako, bilang guro, ay ipamumulat ko sa mga kabataan na kilalanin din ang sariling atin upang mapayabong at mapalago ang kultura ng ating bansa.”

The folio’s potential impact on the Filipino youth was the same message underscored by CCP president Arsenio Lizaso in his closing remarks for the launch.

“Ang Gawad CCP Para sa Sining 2020 Folio ay nagsisilbing patunay sa pag-usbong at pag-unlad ng iba’t-ibang larangan ng sining at kultura sa Pilipinas,” he said. “Ito ay pamana para sa mga susunod na henerasyon upang mas makilala at mas mapalago pa ang sining at kultura natin.” ■

B6

Tuesday, October 5, 2021

Negros dive haven to go ‘zero waste’

DAUIN town, the scuba diving and resort capital of Negros Oriental province, envisions of being a "zero waste" municipality in keeping with its thrust of being a sustainable tourist destination in Central Visayas.

This after its municipal government led by Mayor Galicano Truita recently held a coastal cleanup which involved local officials, employees, security personnel, barangay volunteers, and tourism stakeholders under the Dauin Resorts Association and the Negros Oriental Dive Association.

The event, which had some 150 participants in 8 barangays, also had a simultaneous underwater cleanup by volunteer scuba divers from the Philippine National Police and Bureau of Fire Protection.

The cleanup is part of the observance of the International Coastal Cleanup Day, and included an educational component which consolidated the environmental, waste management and upcycling initiatives within the town.

The coastal municipality takes pride in its rich ridge to reef ecosystem because of its forested uplands and lush marine life.

Dauin's new environmental direction is inspired by the citation received by its main tourism spot, Apo Island, which was recently awarded as the country's first “zero waste” island barangay by the Zero Waste Cities Project because of its communitybased upcycling livelihood projects.

The ZWCP is an initiative of GAIA Asia Pacific and 10 member collaborators from India, Indonesia, and the Philippines, and is funded by the Plastic Solutions Fund.

The project encourages grassroots solid waste management, enabling waste reduction policies, and creating income opportunities in the handling and processing of recyclable materials in the island's four material recovery facilities which integrate solid wastes into construction aggregates, furnishings and decorative items.

One of the country’s sought-after scuba diving sites, Apo boasts of a lush marine biodiversity with lush coral gardens, sea turtles, school of jacks, and other aquatic resources. The 74-hectare island is also recognized by the Department of Environment and Natural Resources as a Protected Seascape and Landscape.

The island village is taking its earth-friendly lifestyle by pilot testing the use of organic shampoos and body wash, lime soap bars, organic liquid laundry and dishwashing solutions to gradually eliminate plastic waste sachets.

The social enterprise is a partnership with Silver Reef Dive Resort (SRDR) and Plastic Life Sucks (PLS) which will supply refillable pump bottles and biodegradable bathroom and washing essentials. SRDR, a prime mover of the Dauin Resorts Association and the Dauin Tourism Board, is a boutique dive resort and restaurant which is advocating for sustainable tourism practices and coral propagation in the municipality.

Bare to Declare: Avon urges women to celebrate their own version of beauty

THERE’S no better time to celebrate every kind of beauty, be comfortable and confident to show ‘em what you got!

Most women will have heard or read someone make an unsolicited remark about how they look whether at home, outside, or online. Social media is especially widespread not just with comments, but also with unrealistic beauty standards from brands and celebrities. Some get the notion that it’s “normal,” but that shouldn’t be the case.

It’s best to remember that there’s no definite standard of what it means to be beautiful, so there should be nothing or no one to hold you back from owning your version of it! When you acknowledge every part of yourself and use it to your advantage, nobody will be able to put it against you.

Beauty might be skin-deep, but selflove runs deeper. That’s why it’s time you Bare to Declare your beauty standard— after all, Avon’s got you covered with products that nourish your own beauty.

Skin So Soft and So You

EVERY Filipina can feel sexy with radiantly soft skin with the new and improved Skin So Soft Hand and Body Lotions by Avon, now formulated with Deep Absorb TechnologyTM that can penetrate up to 10 layers of skin which means that all the nourishing and protecting ingredients are deeply absorbed, making skin look and feel amazing from within.

Don’t be afraid to enjoy the sunshine when you put on Skin So Soft Radiance + SPF15 Hand and Body Lotion which protects you from UV rays, while also improving dull skin in just 3 days with active Glutathione formula.

Go from uneven to flawless skin with Skin So Soft Perfectly Even Hand and Body Lotion with 99% Kojic concentrate and SPF6, which is powered with 5A complex that will make any skin tone naturally even, sun-protected, and nourished.

Dry and sagging skin? That’s no problem with Skin So Soft Firm Bright Hand and Body Lotion, infused with Vitafirm complex and Carrot root extract that keeps skin look and feel firmer in just 3 days.

Keep your skin silky-smooth throughout the day with Skin So Soft Silky Moisture Hand and Body Lotion that’s infused with Argan Oil and Vitamin E for long-lasting moisture.

Last but not the least, you can achieve radiant skin faster and brighter than ever before with Skin so Soft Ultra Radiance Hand and Body Lotion, now with 4x more Glutathione. Combined with Gluta Booster Technology, you can increase your natural Gluta in the skin by up to 27%. Furthermore, this formula is 99% enforced with pure Vitamin C, Vitamin B3 (Niacinamide), and Amino Acids.

Go Nude with an Attitude

AVON has recently strengthened their position to be more inclusive for every size, skin tone, gender, and identity through Intimate Apparel.

Last May, the brand encouraged women to “Own Your Stage” with the Invisicool collection that can support you at whatever stage in life you are – be it a striving mom, a plus-sized queen, or even an experienced boss. By July, the brand invited every body and everybody to “Come As You Are” with the first gender-free Limitless underwear collection in the country.

This time, women are encouraged to take on the world with a nude attitude with Avon Intimate Apparel. It has additional shades that can complement morena, medium-tone, and fair skin tones. It also offers a variety of designs to choose from: signature lace bras, nude printed bras, and innovative and moulded bras. Whether you’re working from home or running a quick errand, you can still take it light and easy with the 3-piece loungewear collection that you can wear from day to night. A true level-up from your usual house clothes, this selection is made with innovative, lightweight fabric, and moves sweat from your body so you can be comfortable throughout the day. It comes in a versatile nude that pairs well with your skin, regardless of complexion.

Find the perfect support for your body and don’t let anyone dim your glow! As long as you feel good, you’re already on your way to being the best version of yourself. There’s no pressure to give in to what other people might say. Because whichever you choose, Avon encourages you to #BareToDeclare your version of beauty.

Check the whole collection now at avonshop.ph or contact your local Avon representative! MERALCO ENERGIZES NEW COVID-19 VACCINATION CENTER IN PATEROS. In its continuing support to the Government and Private Sector’s fight against COVID-19, Meralco energizes a new vaccination center at the AMC Gym, Barangay San Roque, Pateros. The project involves the installation of six (6) 15-meter concrete poles, two (2) 50-kVA distribution transformers, ten (10) spans of insulated primary wires, service drop wires and metering facility. This new vaccination center is one of the many vital COVID-19 facilities in the Meralco franchise area that are given the highest priority in terms of providing safe, adequate, and reliable supply of electricity, in line with the company’s thrust to assist the government during the pandemic. To date, more than 140 vital COVID-19 facilities have already been energized by Meralco which include government offices, hospitals, testing laboratories, quarantine and vaccination centers, and vaccine storage facilities.

Spotify celebrates new sounds this season in PH

AS we get into the exciting spirit of Ber Months, the Spotify team is happy to share local artists and creators’ fresh releases on its platform. Enjoy this month’s selection as you sit back and tune in.

Ben&Ben has released their highly anticipated album, Pebble House, Vol. 1: Kuwaderno on Spotify. This 13-track album marks an important chapter in Ben&Ben’s history, capturing their stories and experiences that had accompanied them through their journey. From October, check out Spotify’s “Tatak Pinoy” playlist where you can look forward to exclusive Spotify Clips that give you an intimate glimpse into “Pebble House”, a visual diary that reveals corners of the house where their songs were written.

Here are two Spotify playlists to immerse yourself and your loved ones in fuzzy, festive feels.

Paskong Pinoy. Check out hit songs such as Christmas in Our Hearts, Sana Ngayong Pasko, Christmas Bonus, and Star ng Pasko.

Maligayang Pasko! A holiday hosting musthave, check out this playlist that houses the best of international tunes. From traditional tunes like Mariah Carey’s All I Want is You to the latest acoustics by Taylor Swift, it’s time to dream up the perfect gathering this season.

Trending Podcasts and Shows

PLUGGING into a good podcast has the ability to inspire your day. With podcasts spanning across multiple genres, tune in to these trending picks filled with light-hearted stories and conversations.

Figure It Out with Gabbi and Khalil. Maneuvering life’s highway of twists and turns, Gabbi and Khalil discover more about themselves through conversations about their untold stories and adventures.

The Karen Davila Podcast spotlights topics Filipinos care about. Karen discusses life, lessons, and everything in between. Every episode is a candid conversation between Karen and famous personalities, movers and shakers, and friends.

Makinig Ka Muna with Jim & Saab is Spotify’s latest Music + Talk show that combines music and spoken commentary in one harmonious listening experience. The couple quips that they now have a platform to merge their love for giving advice and providing a soundtrack to life.

Blend: Discover your “Taste Match Score” with your Friends

HOW in sync are you and your bestie? With Blend, friends can put their music compatibility to the test with the personalized, shared playlist.

Two users who create a Blend will now get a taste match score that shows how similar or unique their listening preferences are. They’ll also be able to see the specific song that brings you together, and shareable across social channels.

Simply Create, Invite, Blend, and Share. Tap ‘Create Blend’ in the Made for You hub on mobile. Next, tap ‘Invite’ to select a friend to join your Blend via messaging. Once your friend accepts, Spotify will generate custom cover art and tracklist for the two of you, filled with songs that combine your listening preferences and tastes. Share your Blend results across your social channels by tapping “Share this story” at the bottom of your data story screen.

FPG Insurance wins at 2021 Insurance Asia awards

FPG Insurance, a major player in the non-life insurance industry, bagged the Insurtech Initiative of the Year award for the Philippines at the 2021 Insurance Asia Awards for its organic and in-house Software-Defined WideArea Network or SD-WAN. The event was held virtually via digital presentations throughout the month of August.

The prestigious event, organized by Insurance Asia and the Charlton Media Group, recognizes the most outstanding insurance companies all over the region. The Insurance Asia Awards has since awarded over 130 companies from 24 countries from its foundation in 2016 and has received the most number of nominations this year since its inception.

SD-WAN is an IT architecture that provides enhanced connectivity, higher bandwidth capacity, centralized network management, and better security and encryption. It also allows businesses and organizations to utilize more affordable connection types other than the traditional Multiprotocol Label Switching or MPLS.

“Implementing SD-WAN was a challenge but we were able to do so in a span of five months which greatly helped prepare our operations for the global business interruptions in 2020. The company would have only been able to send off 20% of its staff to work remotely owing it to retail licensing limitations. Currently, the capability of the company can enable close to 100% of the workforce to a work-fromhome arrangement if needed,” said Gabriel Mohan, FPG Insurance Chief Information Officer and Head of IT.

By utilizing SD-WAN, FPG Insurance receives faster service and improved data center management across its branches nationwide.

“It has been a very challenging time not only for the Philippines but for every industry globally. Implementing SD-WAN proved to be a very reliable undertaking. This reinforces our stronger commitment to our customers and business partners as we look for new ways to upgrade the way we deliver our products and services,” said FPG Insurance President and CEO Gigi Pio de Roda.

FPG Insurance’s SD-WAN was implemented in-house which now serves as the backbone for the company’s ongoing digital transformation initiatives.

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

The World

BusinessMirror

Tuesday, October 5, 2021

B7

Taiwan says peace crucial to chip supply as China pressure grows

PEACE in the Taiwan Strait is key to the island’s ability to ensure continuous supply of the chips needed to power a wide range of products from cars to smartphones, a senior Taiwanese official said.

Taipei is seeking to rally political support as China ramps up its aggression toward the island that it considers part of its territory. Warplanes sent by Beijing made a record 93 flights close to Taiwan over a three-day period starting Friday, prompting the US State Department to express concern and urge China to cease its “provocative” actions.

“Taiwan has helped foster a great chip manufacturing ecosystem with three decades of efforts against the backdrop of globalization,” Taiwan’s Minister of Economic Affairs Wang Mei-hua told Bloomberg News in an interview on Friday. “The global community should take Taiwan’s security more seriously so Taiwan can continue to provide stable service to everyone and be a very good partner to everyone.”

Wang’s comments highlight the increasingly politicized nature of semiconductors as governments around the world scramble to secure sufficient chips from Taiwan to accelerate a post-Covid economic rebound. Taiwan Semiconductor Manufacturing Co. boasts a 53-percent share of the contract chipmaking market, fueling concern that any instability in the Taiwan Strait could cut off supply of key silicon used by hundreds of companies including Apple Inc. for its iPhones. Chairman Mark Liu in July also called for peace in the region, in order to prevent disruptions to the supply chain.

The heavy reliance on TSMC and its local peers has already spurred governments in the US, EU, Japan and China to mull bolstering their own domestic chip industries. The Biden administration last month stepped up its pressure on companies to disclose details on their supply-and-demand structures, as the global chip shortage continued to wreak havoc on many industries, including automaking. Intel Corp.’s Chief Executive Officer Pat Gelsinger has exhorted the US government to prioritize support to domestic chipmakers rather than non-American ones, characterizing foreign supply chains as “insecure.”

Wang dismissed concerns that companies around the world are too dependent on Taiwan, saying that the island focuses mostly on chip fabrication within the complex global semiconductor supply chain. It still needs equipment and materials from other countries, such as gear from US-based Applied Materials Inc. and the Netherland’s ASML Holding NV, which has a monopoly on extreme ultraviolet lithography systems required for manufacturing the most cutting-edge chips.

“We can buy EUV machines only from ASML. Are we going to say that it is too risky for us to be so dependent on ASML?” Wang said. “Taiwan has built a professional and reliable ecosystem over a long period of time, so many chip designers end up getting Taiwan to make the chips. It is really because Taiwan has a very efficient production system. Taiwan actually grows and thrives together with global equipment and material suppliers.”

The island’s chipmakers are already doing their part to alleviate shortages plaguing the global automotive industry, she said, with TSMC boosting output of automotive microcontrollers by 60 percent from 2020. It’s also spending $100 billion to expand manufacturing over three years. But chip packaging and testing services in Malaysia have been affected by lockdowns, and that is what’s causing the current bottleneck in supply, she said.

The chip crunch is now expected to cost global automakers $210 billion in sales this year. They will build 7.7 million fewer vehicles in 2021, according to the latest estimates from AlixPartners issued in September, almost double a previous forecast of 3.9 million. TSMC produces a significant portion of the semiconductors needed by major auto chip suppliers like Infineon Technologies AG, NXP Semiconductors NV and Japan’s Renesas Electronics Corp., companies that carmakers around the world depend on for essential electronic components for their vehicles.

To mitigate US national security concerns, TSMC is building a $12-billion plant in Arizona with the goal of starting to produce chips by 2024. The Taiwanese company is also considering building a fab in Japan and studying the feasibility of a creating plant in Germany. It’s also adding capacity in a fab in the eastern Chinese city of Nanjing.

At home, the Taiwanese government is making efforts to provide TSMC with adequate water and electricity supply in anticipation of the chipmaker’s future needs, Wang said. TSMC has pledged to using 100% renewable energy and producing zero indirect carbon emissions from electricity consumption by 2025.

“The chip industry has propped up Taiwan’s economy. It is a key pillar to Taiwan’s economic security and overall security,” Wang said. “We are working hard to ensure that Taiwan will continue to be a reliable partner for everyone to collaborate with.” Bloomberg News

Japan’s parliament elects former diplomat as new PM

TOKYO—Fumio Kishida was elected Japan’s prime minister in a parliamentary vote Monday and will be tasked with quickly tackling the pandemic and other domestic and global challenges and leading a national election within weeks.

With his party and its coalition partner holding a majority in both houses, Kishida won by a comfortable margin against Yukio Edano, head of the largest opposition Constitutional Democratic Party of Japan. Kishida and his new Cabinet will be sworn in at a palace ceremony later in the day.

He replaces Yoshihide Suga, who resigned after only one year in office as his support plunged over his government’s handling of the pandemic and insistence on holding the Tokyo Olympics as the virus spread.

A former foreign minister, Kishida, 64, used to be known as a dovish moderate but turned hawkish apparently to win over influential conservatives in the Liberal Democratic Party. He is firmly entrenched in the conservative establishment, and his victory in last week’s vote to replace Suga as the party’s leader was a choice for continuity and stability over change.

Kishida will replace all but two of 20 Cabinet posts under Suga and 13 are being appointed to ministerial posts for the first time, Japanese media reported. Most of the posts went to powerful factions that voted for Kishida in the party election. Only three women are reportedly included, up from two in Suga’s government.

Foreign Minister Toshimitsu Motegi and Defense Minister Nobuo Kishi are to be retained, ensuring continuity of Japan’s diplomacy and security policies as the country seeks to closely work with Washington under the bilateral security pact in the face of China’s rise and growing tensions in the region, including around Taiwan.

Kishida supports stronger Japan-US security ties and partnerships with other like-minded democracies in Asia, Europe and Britain, in part to counter China and nuclear-armed North Korea.

Kishida is to create a new Cabinet post aimed at tackling economic dimensions of Japan’s national security, appointing 46-year-old Takayuki Kobayashi, who is relatively new to parliament.

Japan faces growing nuclear and missile threats from North Korea, which last month testfired ballistic missiles capable of hitting targets in Japan. Kishida also faces worsening ties with fellow US ally South Korea over history issues even after he struck a 2015 agreement with Seoul to resolve a row over the issue of women who were sexually abused by Japan’s military during World War II.

An urgent task at home will be turning around his party’s sagging popularity, hurt by Suga’s perceived high-handedness on the pandemic and other issues. Kishida is expected to make a policy speech later this week before dissolving the lower house of Parliament ahead of the general election expected by mid-November.

He’ll also have to ensure Japan’s health-care systems, vaccination campaign and other virus measures are ready for a possible resurgence of Covid-19 in winter, while gradually normalizing social and economic activity.

Kishida said last week that his top priority would be the economy. Kishida’s “new capitalism” is largely a continuation of Abe’s economic policies. He aims to raise income of more people and create a cycle of growth and distribution.

A third-generation politician, Kishida was first elected to Parliament in 1993 representing Hiroshima and is an advocate for nuclear disarmament. He escorted former President Barack Obama during his 2016 visit to the city that, along with Nagasaki, was destroyed in US atomic bombings in the closing days of World War II. AP

New Zealand admits it can no longer get rid of coronavirus

WELLINGTON, New Zealand—New Zealand’s government acknowledged Monday what most other countries did long ago: It can no longer completely get rid of the coronavirus.

Prime Minister Jacinda Ardern announced a cautious plan to ease lockdown restrictions in Auckland, despite an outbreak there that continues to simmer.

Since early in the pandemic, New Zealand had pursued an unusual zero-tolerance approach to the virus through strict lockdowns and aggressive contact tracing.

Until recently, that elimination strategy had worked remarkably well for the country of 5 million, which has reported just 27 virus deaths.

While other nations faced rising death tolls and disrupted lives, New Zealanders went back to workplaces, school yards and sports stadiums safe from any community spread.

But that all changed when the more contagious Delta variant somehow escaped from a quarantine facility in August after it was brought into the country from a traveler returning from Australia.

Despite New Zealand going into the strictest form of lockdown after just a single local case was detected, it ultimately wasn’t enough to crush the outbreak entirely.

One factor may have been that the disease spread among some groups that are typically more wary of authorities, including gang members and homeless people living in transitional housing.

The outbreak has grown to more than 1,300 cases, with 29 more detected on Monday. A few cases have been found outside of Auckland.

Ardern said that seven weeks of lockdown restrictions in Auckland had helped keep the outbreak under control.

“For this outbreak, it’s clear that long periods of heavy restrictions has not got us to zero cases,” Ardern said. “But that is OK. Elimination was important because we didn’t have vaccines. Now we do, so we can begin to change the way we do things.”

New Zealand began its vaccination campaign slowly compared to most other developed nations. Rates rocketed in August after the outbreak began but have dropped off significantly again since then.

About 65 percent of New Zealanders have had at least one dose and 40 percent are fully vaccinated. Among people age 12 and older, about 79 percent have had at least a single jab.

Under Ardern’s plan that starts Tuesday, Aucklanders will be able to meet outdoors with loved ones from one other household, early childhood centers will reopen and people will be able to go to the beach.

The dates for a phased reopening of retail stores and later bars and restaurants have yet to be decided.

Ardern said the elimination strategy had served the country incredibly well but the government always intended to eventually transition to the protection of vaccines, a change hastened by the Delta variant “game changer.”

The government’s elimination approach had been broadly supported by New Zealanders but was facing increasing criticism. Over the weekend, hundreds of people turned out to rallies protesting the lockdown.

Opposition lawmaker Chris Bishop said the government had no clear strategy to deal with the outbreak other than total surrender.

But Ardern said that most measures would remain in place to keep the outbreak under control, including exhaustive contact tracing and isolating those who got infected.

“There’s good cause for us to feel optimistic about the future,” Ardern said. “But we cannot rush.” AP

Trading of China’s Evergrande shares in Hong Kong suspended

HONG KONG—Shares in troubled real-estate developer China Evergrande Group and its property management unit Evergrande Property Services were suspended from trading in Hong Kong on Monday as investors awaited the next steps in the saga of its debt crisis.

Cailian, a Chinese online news service affiliated with the state-run newspaper Securities Times, said another developer, Hopson Development Holdings, was planning to acquire a majority share in Evergrande Property Services Group.

Hopson suspended trading of its shares in Hong Kong on Monday. The suspension was “pending the release of announcement[s] in relation to a major transaction of the company under which the company agreed to acquire the shares of a company...listed on the stock exchange,” it said in a filing.

Hopson’s public relations department said the company would not comment on “market rumors.”

Evergrande Property Services said in its announcement to the Hong Kong exchange that its shares were suspended from trading pending an announcement related to a merger or takeover.

Phone calls to Evergrande’s PR office in Hong Kong rang unanswered and the company’s offices elsewhere in China were closed for a holiday.

Evergrande has been struggling to avoid defaulting on billions of dollars of debt. The company owes billions to banks, customers and contractors and has been selling off assets to resolve its cash crunch.

Analysts say the Chinese government was reluctant to be seen as bailing Evergrande out at a time when authorities are pushing companies to reduce debt levels. A takeover of the company’s property management arm would be one step in restructuring it by splitting it into smaller entities, said Francis Lun, CEO of Geo Securities in Hong Kong.

The central government might ask local governments in turn to provide funding for Evergrande to finish its many incomplete projects so that they can be delivered or sold to buyers, enabling the developer to pay its contractors, he said.

“As far as the Chinese government is concerned, this is the best way forward. And of course, in doing so, I think some creditors will be hurt, mostly overseas creditors,” Lun said.

Evergrande is one of China’s biggest private sector conglomerates, with more than 200,000 employees, 1,300 projects in 280 cities and assets of 2.3 trillion yuan ($350 billion). It owes creditors some 2 trillion yuan ($310 billion).

The company ran up billions of dollars in debt building apartment complexes, malls and office towers over the years. Its situation worsened after August 2020, when Beijing tightened controls on financing for China’s 12 biggest developers, forcing them to reduce corporate debt loads that are seen as a threat to the economy.

Evergrande has been selling off various assets to try to alleviate the problem. Last week, it sold its $1.5-billion stake in Shengjing Bank to cover its debt to the state-owned lender based in northeastern China.

China Evergrande Group’s shares have lost more than 80 percent of their value this year and ratings agencies say it is at risk of defaulting on its debts.

Like Evergrande, Hopson, based in Guangdong adjacent to Hong Kong, is one of China’s biggest property companies. Reports show it has a much lower debt to equity ratio than its larger rivals.

Jitters over a slowdown in China’s economy and potential turmoil in its vital property industry have rattled world markets in the past few weeks.

The fear is that a default by Evergrande could cascade throughout the Chinese economy and even world financial markets.

“I think the government is really close to a resolution over the Evergrande problem because it cannot drag on forever, it will hurt everybody involved,” Lum said.

Hong Kong’s benchmark Hang Seng index dropped 2.3 percent Monday on heavy selling of realestate companies and banks. AP

Sports BusinessMirror

PBA eyes return to Metro venue

By Josef Ramos

THE Philippine Basketball Association (PBA) hopes to bring the Philippine Cup Finals back to Metro Manila, MARCIAL according to league commissioner Willie Marcial on Monday.

“We have a chance to return to Metro Manila so I am hoping at least in the finals. But I am still asking proper authority for the status of Metro Manila, but there’s a possibility,” Marcial told BusinessMirror. “And yes, it’s still at the Ynares Sports Arena in Pasig City.”

Marcial said the league has been in close coordination with the Inter-Agency Task Force for the Management of Emerging Infectious Diseases after Metro Manila went under Alert Level 4 protocols for the first two weeks of October.

The best-of-seven semifinals series between TNT Tropang Giga (1-0) and San Miguel Beer, and Magnolia (1-0) and Meralco that started last Sunday will remain at the Don Honorio Ventura State University gym in Bacolor, Pampanga.

The PBA suspended play last August 3 because of the rising Covid-19 cases in Metro Manila and moved to the bubble venue in Pampanga.

Marcial also said that they are eyeing to hold the second conference in mid-November but didn’t confirm if imports will be invited to beef up the teams.

“For now, let’s see if we can allow the import conference to happen. I am still talking to other agencies,” Marcial said. “

Lacsina, Nisperos shine as Rebisco targets 5th place in Thai tourney

ITALY’S Sonny Colbrelli (second from left) tows Belgium’s Florian Vermeersch (right), The Netherlands’s Mathieu van der Poel (left) and

Italy’s Gianni Moscon (rear) in a muddy Paris Roubaix finish. AP

CALVIN WAXING HOT ALL WEEK

ENERGY, hustle, and toughness, qualities which Magnolia are looking for it decided to bring on board Calvin Abueva.

And so far, the Hotshots are reaping the fruits of their offseason gamble.

Abueva is living up to his moniker “The Beast” in the Philippine Basketball Association (PBA) Philippine Cup playoffs, steering Magnolia to a sweep of Rain or Shine in its best-of-three quarterfinals series, and then taking over down the stretch in Game 1 of its semifinals matchup with Meralco despite nursing foul trouble to prevail, 88-79.

Abueva’s heroic made him the hands down choice as Cignal PlayPBA Press Corps’ Player of the Week for the period September 29 to October 3.

During that stretch, the 33-year-old forward averaged 16.5 points and 13.0 rebounds, while shooting 52 percent from the floor.

Abueva was a dominant force in the Hotshots’ 96-86 closeout win against the Elasto Painters in Game 2 of their series as he finished with 20 points and pulled down 19 rebounds.

Three days after, the leading candidate for the Best Player of the Conference award bucked foul trouble and engineered a 20-3 run going home as the Hotshots erased a six-point deficit to take an 83-72 lead with about three minutes left in their series opener against the Bolts. Abueva capped the telling run with a slam dunk as he scored seven of his total 13 output in the fourth quarter.

“Calvin adds toughness. The team’s system fits him right, that’s why he adjusted easily with the team,” said Coach Chito Victolero, who acquired Abueva in an offseason trade with Phoenix for guard Chris Banchero.

Besides Abueva, also considered for the weekly honor handed out by reporters regularly covering the PBA beat are Magnolia’s Paul Lee and Ian Sangalang and TnT Tropang Giga’s Roger Pogoy, Troy Rosario, and Jayson Castro.

COACH CHOT WARY OF SMB

DESPITE winning by a point, 89-88, over long-time rival San Miguel Beer last Sunday to take the semifinal opener, TNT Tropang Giga coach Chot Reyes remained wary of Game Two of their bestof-seven semifinals showdown especially with the absence of big man Kelly Williams.

“We are no match to San Miguel Beer’s depth, talent and experience. You have to be in your superhuman effort to take down this powerhouse team,” Reyes told BusinessMirror. “And maybe without Kelly for another week, we will have to find ways to compete.”

Williams, the 2007 Season Most Valuable Player, will be out because for days because of health and safety protocols.

Reyes and the Tropang Giga knew how tough and difficult facing the Beermen would be after losing to them, 67-83, in the eliminations last September 8.

But in the semifinals, TNT took a comfortable lead before San Miguel Beer made it a close game R OUBAIX, France—Italian rider Sonny Colbrelli won a rainy and mud-soaked Paris-Roubaix cycling race on his debut Sunday. The 31-year-old Bahrain Victorious rider crossed the finish line ahead of Florian Vermeersch of Belgium (Lotto Soudal) and Dutchman Mathieu van der Poel (Alpecin-Fenix). He caught them in a threeway sprint at the Roubaix velodrome and all the riders were caked in dirt from head to toe. Colbrelli collapsed to the ground and was in tears after his victory. “Unbelievable, my first Parigi [Paris]Roubaix and I win. I’m very happy,” Colbrelli said. “Today is a legendary Roubaix with the rain and the weather.”

The race had been scheduled for April 11 but was postponed until October because of the coronavirus pandemic.

It is one of cycling’s five high-profile classics, along with the Tour of Flanders, Milan-San Remo, Liege-Bastogne-Liege and the Giro di Lombardia.

But it is known as the Queen of the Classics because it is the most prestigious of the five. The grueling and dangerous 258-kilometer trek is also known as the “Hell of the North,” because of its treacherous profile including more than 50 kilometers of cobblestones spread out over 29 sectors. Three-time world road race champion Peter Sagan—who won the race in 2018—and Mads Pedersen were among the riders to crash in particularly bad conditions following heavy rainfall for several days in the Paris region. “I was at the limit in the final,” Colbrelli said. “It was super difficult because I had to pay attention for the crashes from the first sectors and then there’s always the stress to be in position in the cobbles.” AP

MAGNOLIA’S Calvin Abueva is named the week’s best player.

with Marcio Lassiter missing the winning shot.

TNT, armed with a twice-to-beat advantage as the No. 1 team with a 10-1 win-loss record, booted out No. 8 Barangay Ginebra San Miguel in the quarterfinals, 84-71.

With Josef Ramos

Malditas guests in PSA Forum

THE Philippine women’s football team that qualified for next year’s

Asian Football Confederation

Women’s Asian Cup headlines the online edition of the Philippine Sportswriters Association Forum on Tuesday. Head Coach Marlon Maro, Assistant Coach Rose Ton Barinan and team captain Inna Palacios are appearing in the 11 a.m. session to talk about their preparation for the January 20 to February 6 event to be held in India—where the top five teams will advance to the 2023 Fifa Women’s World Cup.

The Malditas clinched a berth in the Asian Cup for the second straight year after topping Group

F of the recent qualifiers held in Tashkent, Uzbekistan. The weekly public sports program is presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. PSA President Rey Lachica of Tempo enjoins members to attend the Forum through the PSA Facebook page fb.com/PhilippineSportswritersAssociation which is livestreaming the session, and also being shared by Radyo Pilipinas 2 facebook page.

TEAM Rebisco now looks forward to a modest fifth-place finish in the consolation phase following an 1125, 19-25, 18-25 loss on Monday to four-time Thailand League winner Nakhon Ratchasima Qminc VC where Ivy Lacsina and Faith Nisperos pulled off potent performances.

“We may have had some ups and downs, but we have a lot to improve on,” Nisperos said after the one-hour and 28-minute match. “But I am so happy spiritually seeing how my teammates and I are really trying to fight.”

That was the third loss in as many matches for Rebisco, who refused to be bullied to the sides by an opponent that has played much longer together than the Filipinas’ two- to three-month training, no thanks to more rigid health protocols back home.

The consolation round is meant for teams who do not make the semifinals of the 21st Asian Women’s Club Volleyball Championship that the Thailand federation is hosting in Nakhon Ratchasima, which has since become one of the host’s sports hub since it hosted the 2007 Southeast Asian Games.

“We are really trying to apply what we have learned from Coach Jorge [Edson Souza de Brito],” said Nisperos, who rifled in eight of 11 spikes, made five blocks and a team-best nine points to compliment the six kills from Nisperos who entered match as a substitute in the second set.

“This is a learning experience for us, and for sure we can take all the lessons from here moving forward,” added Nisperos, who made 14 points on attacks at the Terminal 1 competition hall bubble.

Despite the defeat, Brito praised his wards for showing nigh fighting hearts.

“Even when they didn’t play well in the first set, they picked their game up in the second and third set,” Brito said. “This is really important...inside the match, you are always going for improvement.”

“For sure, we will be really preparing for the next match and do our best always,” added Brito, a member of the Brazilian team that won the men’s gold medal in the Barcelona 1992 Olympics.

Rebisco will play in Wednesday’s classification round against the loser of the quarterfinals duel between Choco Mucho and Supreme Chonburi of Thailand.

Rebisco’s participation, as well as that of Choco Mucho, in the championships are supported by the Philippine Sports Commission, Rebisco, Taguig City and Asics.

FAITH NISPEROS celebrates a point with her teammates.

Danbury Trashers

A THEN 17-year-old AJ Galante becoming the president and general manager of his own hockey team— something out of a Disney movie but it ain’t no Disney film and AJ ain’t no Disney character.

It’s neither the fourth installment nor a reboot of Mighty Ducks. AJ Galante is a real person and his team’s story is both unique and incredible. Galante is the breakout star of the Netflix sports documentary Untold: Crime and Penalties.

That AJ let his creative juices flow and was out of the box with the team is an understatement. We had a conversation with the former Trashers chief last weekend where he narrated how he signed up the players, the lessons and takeaways from the two seasons with the Trashers, the other gimmicks he should’ve tried and to create a “family” atmosphere at the games.

The Trashers were a “physical” team and that’s putting it mildly. They made the Philadelphia Flyers of the 70s and the Detroit Pistons Bad Boys of late 80s look like choir boys.

Every game was like either a WWF match or an episode of UFC’s “The Ultimate Fighter.” I was surprised there were no extra-curricular activities among the players during practices.

AJ wouldn’t change a thing if he had to do it all over again. Would things have been different if he were a little bit older when he got the team? Maybe, but I guess we’ll never know.

The Trashers got to the playoffs in their two years of existence, reaching the finals in their second and last year, losing to the Kalamazoo Wings. They would’ve won the title in their third season if it happened.

We brought up a few gimmick suggestions for Mr. Galante, one was to have one of the fans from Section 102 lace ‘em up then put on some Trasher threads then start a few fights once the puck falls on the ice.

Another one was to have a WWF professional wrestler put on some skates and the uniform then away he goes with his hands landing on an opposing player’s face.

A brilliant marketing and public relations ploy by the youthful former team executive was to hire Brent Gretzky. If the last name sounds familiar, it is because Brent is the brother of arguably the greatest National Hockey League player ever, Wayne Gretzky.

AJ never got to talk to the “Great One” but if working with his brother is the closest you’ll ever get to an ice hockey icon, I’ll take it.

These days, AJ manages and promotes his boxers, most of whom are contenders in their respective weight divisions. He’s been in boxing since 2011, we obviously saw his passion, enthusiasm and fervor for the sweet science and I don’t see it wane anytime soon.

Before the interview, my impression and sense of the man was that he is street-smart and will work his hardest to where he wants to be in life. He won’t let his kids get into boxing unless for either exercise or recreation but, he will allow them to take up hockey.

As proof of how passionate and down to earth this guy is about his sport and his Trashers then, even as president and GM, the former high school hockey player would wear those threads and put the skates on and start throwing punches to get things started.

If you’re an opposing team then, the movie Remember the Titans would have a sequel and that would be, “Remember the Trashers,” the bad boys of hockey.

TOKYO Olympian Yuka Saso wound up tied for 19th place in the ShopRite Ladies Professional Golfers Association Classic which Celine Boutier won after she birdied two of her last three holes for a final round-under 63.

Saso closed out with a 69 and together with her 67 and 70 in the first two rounds, ended her campaign at seven under 206, the same score submitted by seven other golfers.

Saso started with an eagle in the third hole and birdied Nos. 8 and 14, but bogeyed the sixtth

Saso 19th in ShopRite LPGA shots behind, Boutier ran off six birdies on the front nine of the windy Bayside Course at Seaview to join a growing list of and 15th holes. contenders. The other Filipinos—Bianca The 27-year-old from France Pagdanganan and Dottie Ardina— holed a 12-foot birdie putt on No. finished in a tie for 27th and 16 and then birdied the par-five 44th, respectively. Pagdanganan 18th from five feet to set the target had a 68 for 207 and Ardina also at 14-under 199. carded a 68 for 209. Jin Young Ko and Inbee Park, Saso banked $18,615 who shared the lead going into the (P945,000), Pagdanganan earned final round, couldn’t catch her. $13,930 (P707,000) and Ardina Ko, going for her third win in $7,123 (P361,000). her last five starts on the LPGA Boutier prevailed when South Tour, appeared to be in control until Korea’s best two players faltered she started missing putts from the down the stretch at Seaview in 10-foot range. Galloway, New Jersey. Boutier won $262,500 for the Starting the final round five victory. With AP