BusinessMirror October 12, 2023 by BusinessMirror

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DESPITE NEDA CAUTION, BSP TO STILL HIKE RATES www.businessmirror.com.ph

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Thursday, October 12, 2023 Vol. 19 No. 1

P.  |     | 7 DAYS A WEEK

Application on LBP-DBP merger not yet with BSP

B C U. O @caiordinario

ESPITE the warning of the National Economic and Development Authority (Neda) on the ill effects of further monetary tightening on the economy, the Bangko Sentral ng Pilipinas (BSP) remains undeterred in its hawkish stance and still intends to raise interest rates in November.

In a briefing on Wednesday, BSP Governor Eli M. Remolona Jr. said he is not ruling out a 25-basis-point (bps) rate hike in November given the latest data, including the 6.1-percent headline inflation rate recorded in September 2023. Inflation reached the high end of the BSP’s month-ahead inflation forecast due to more expensive rice prices which increased 17.9 percent, the highest in 14 years. (Full story here: https://businessmirror.com.ph/2023/10/06/ september-inflation-rises-to-6-1-rice-pricesblamed/)

“We are considering hikes but we’re going where the data leads us. I don’t think Arsi’s   A

A UNIVERSE ALL THEIR OWN The charming landscape of Barangay Libis in Binangonan, Rizal, transforms into a stage for the coming-of-age adventures of children, where the timeless games of “Chinese

garter” and “Nanay, Tatay gusto kong kape” are still played. This contrast highlights the depth and authenticity of human connections, emphasizing the lasting impact of genuine experiences compared to the fleeting nature of AI-generated games. BERNARD TESTA

HE Bangko Sentral ng Pilipinas (BSP) has not received an application for the merger of the LandBank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). In a briefing with reporters on Wednesday, BSP Governor Eli M. Remolona Jr. said the merger of the two government financial institutions (GFIs) will require a new license from the BSP. Remolona, however, said the merger of GFIs would make the new financial institution a “big bank.” Still, it remains to be seen whether the new institution can be classified as a domestic systematically important bank (DSIB) even if one of the banks has that classification. “I think one of them is a DSIB, not both. DSIBs are selected based on well-understood criteria, size, complexity, the interconnectedness between the bank and other entities,” Remolona explained. “Based on those criteria, we designate—I won’t tell you the number, in the Philippines we don’t reveal which ones are DSIBs. But you can more or less tell which are the DSIB. Once you’re a DSIB, there’s extra capital buffer. There’s more intense supervision. That’s how it works,” he explained. Based on the Manual of Regulations for Banks (MORB), BSP monitors DSIBs “to ensure that [their] capital adequacy framework is consistent with the Basel principles.” Banks that are identified as DSIBs will be required to have a Higher Loss Absorbency (HLA) to ensure that DSIBs have a higher share of their balance sheets funded by instruments that increase their resilience as a going concern. This is especially the case since the failure of a DSIB is expected to have a greater impact on the domestic financial system and economy. “The broad aim of the policies is to reduce   A

SEC DEFENDS MOVE TO RAISE FEES, TO MEET BIZ GROUPS B VG C

@villygc

HE Securities and Exchange Commission has defended its move to increase its fees and charges, saying it made a thorough and careful study of the hike. The SEC, however, has set a roundtable discussion with the groups today (October 12), which include the Philippine Chamber of Commerce and Industry and other FilipinoChinese business organizations opposing the increase. The updated scale of fines and penalties for reportorial requirements would have been implemented on November 7, where basic penalties for the late and non-filing of reports are set to increase by as high as 1,900 percent. “The commission is committed to hear-

ing all comments and suggestions from its stakeholders before issuing the new and final schedule of fees for its services. In the same manner, the commission has always been committed to transparent and accurate data in the interest of fairness to all concerned,” the SEC said in a statement. The SEC said that the current fees and charges was last updated in 2017, based on a proposal from 2014. This means that the current rates are based on operational and administrative costs prevailing almost 10 years ago. The agency said it increased the fees as it launched digital systems, such as the SEC Application Program Interface and the Electronic SEC Education, Analysis, Research Computing S “SEC,” A

MILESTONE

Green bonds. The use of artificial intelligence for banks and most businesses. Ride hailing as a major means of mobility. Renewable energy. Mobile apps for migrant workers. More transparent insu-rance contracts. These are among the things that have truly come of age in the post-pandemic era: a world greatly transformed by the so-called great reset of the planet and the way we live. This special anniversary folio of BUSINESSMIRROR captures what have “come of age” as it marks its own milestone this October, 18 years after its founding.

PESO EXCHANGE RATES US 56.8840 ■ JAPAN 0.3826 ■ UK 69.8877 ■ HK 7.2755 ■ SINGAPORE 41.7130 ■ AUSTRALIA 36.5707 ■ SAUDI ARABIA 15.1662 ■ EU 60.3425 ■ KOREA 0.0424 ■ CHINA 7.7993 Source: BSP (October 11, 2023)

News BusinessMirror

Thursday, October 12, 2023

SEC...

C  A

Hub (eSEARCH). “In fixing the fees and charges applicable to IT-related services, the SEC ensured that the rates would be sufficient to recover the cost of services rendered. The commission considered the direct

costs of rendering the service; the inflation from the year of imposition or last revision of the fees; and the value of the manpower resources used, the technology adopted, and the equipment required in rendering the services,” it said. It said the increase in fees and charges also account for historical and projected volumes of transactions and data requests to ensure that the collections of the agency will be sufficient to recover the increasing operating and maintenance

costs of the digital services in the coming years. The fees and charges imposed by the SEC were also benchmarked with those imposed on similar services in the Philippines and in other jurisdictions. For instance, Singapore’s Accounting and Corporate Regulatory Authority charges P3,029.70 for the download of financial statements and Corporate Compliance and Financial Profile. This is equivalent to the company snapshot package, consisting of the General Informa-

tion Sheet, Annual Financial Statements, and company snapshot, worth P1,000 that may be downloaded from eSEARCH. Under the proposed rates, domestic stock corporations with retained earnings of not more than P100,000 will incur a basic penalty of P5,000 for the late filing of their general information sheet or annual financial statement, plus P1,000 for every month of continuing violation. This represents a 900-percent increase from the current rate of P500. The same penalty applies to domestic non-stock corporations with a fund balance or equity of not more than P100,000, a 19fold jump from the current penalty of P250. Meanwhile, non-filing of GIS or AFS by domestic stock corporations and non-stock corporations with retained earnings and fund balance/equity, respectively, of not more than P100,000 will be slapped with a basic penalty of P10,000, plus P1,000 per month of continuing violation. The penalty for non-compliance with MC 28 will be set at P20,000, double the current rate of P10,000. Aside from the PCCI, other groups who opposed the increase include the Federation of Filipino Chinese Chambers of Commerce and Industry Inc., Philippine Exporters Confederation Inc., Employers Confederation of the Philippines, Management Association of the Philippines, Chamber of Thrift Banks, Philippine Retailers Association, Philippine Franchise Association, Philippine Association of Legitimate Service Contractors, Stratbase ADR Institute for Strategic and International Studies and Philippine Food Processors and Exporters Organization Inc.

DESPITE NEDA CAUTION, BSP TO STILL HIKE RATES C  A

[Neda Secretary Arsenio M. Balisacan] views and our views are that far apart. I think what Arsi really meant was we shouldn’t go for very aggressive hikes, but I wouldn’t rule out 25 basis points for example,” Remolona said. Remolona said while headline inflation rate increased, it was worth noting that core inflation slowed. Core inflation slowed to 5.9 percent, bringing the year-to-date core inflation rate to 7.2 percent. While this was certainly “encouraging,” Remolona said one of the BSP’s main fears was the increase in transport fares, which has already happened. The Land Transportation Franchising and Regulatory Board (LTFRB) approved the P1 jeepney fare hike which was implemented last week.

Other risks

ANOTHER risk to inflation, Remolona said, is the conflict in Israel. While the impact of this war has been muted, the risk that it will spill over to growth as well as oil prices, will make the BSP hawkish to guard against secondary effects. “I wouldn’t say that we’re done with the tightening. I would say, it’s a serious concern whether supply side shocks would have a lasting impact. Normally, they don’t have a lasting impact, but once they get into expectations, once they get into wages, it becomes an issue for us,” Remolona said. “Of course, we only control the demand side. And for now we think tightening has relieved pressure from the demand side. So far we think it hasn’t really affected our growth prospects. We’re watching that very, very carefully,” he added. Last week, Balisacan said he is not in favor of further rate hikes, noting that inflation is being caused by supply side issues that jack up commodity prices. Such a situation, he said, does not call for monetary policy tightening. He said while the economy can still withstand further rate hikes, it may be an unnecessary recourse that could hurt local producers and slow down the country’s GDP growth. Raising interest rates would also not lead to a competitive peso, he added. Balisacan said a weak peso is what the country needs to grow faster since this will allow exporters and local producers to earn more as well as increase the purchasing power of dollar earners and their families in the Philippines. Balisacan explained that it is a misnomer that a weak peso translates to a weak economy. On the contrary, it allows sectors such as Business Process Outsourcing (BPO) and Overseas Filipino Workers (OFWs) to have greater purchasing power. This increase in income is good for consumption-driven economies like the Philippines. Conventionally, the bulk or 70 percent of the economy is driven by consumption, and 10 percent of this is accounted for by the consumption from overseas Filipino workers’ remittances.

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Criminals could use leaked PhilHealth data, privacy body warns banks, hospitals, telcos

B A E. S J

@andreasanjuan

HE National Privacy Commission (NPC) has issued a “Guidance” to all Personal Information Controllers (PICs) and Personal Information Processors (PIPs) to underscore the urgent concern posed by the potential proliferation of counterfeit PhilHealth Identification Cards (IDs) in light of the leak of PhilHealth data.

The country’s privacy body issued “PhilHealthLeak Guidance No. 1” on Heightened Vigilance Against Counterfeit PhilHealth IDs on Wednesday. According to NPC, on October 6, its Complaints and Investigation Division concluded the initial analysis of the 650 gigabytes (GB) compressed data files linked to the Medusa Ransomware Group’s data dump. NPC said it was determined that a portion of this data dump contained personal and sensitive personal information of PhilHealth members. In light of these findings, NPC said it “strongly urges” PICs and PIPs, particularly banks and non-bank financial institutions, hospitals, and public telecommunications entities (PTEs) to exercise heightened vigilance in detecting and preventing the fraudulent use of counterfeit PhilHealth IDs during various transactions. The privacy body highlighted the “associated risks” to these PICs and PIPs. For banks and non-bank financial institutions, NPC warned of the risk of identity theft and financial fraud. It said that fraudsters may exploit fake PhilHealth IDs to open fraudulent bank or financial accounts or conduct unauthorized financial transactions. The privacy body said this can

lead to “significant financial losses” for both bank and its customers. NPC also flagged the risk of money laundering, wherein counterfeit IDs can facilitate money laundering activities within the banking system, potentially exposing banks to legal and regulatory consequences. For public and private hospitals, NPC warned of the risk of medical fraud, where fraudulent IDs can be used to claim healthcare benefits and services, leading to unwarranted financial burdens on hospitals and potentially compromising patient care. NPC noted there could also be patient data breach where the use of counterfeit IDs can result in unauthorized access to patient records and sensitive medical information, jeopardizing patient privacy and confidentiality. For public telecommunication entities, NPC said there could be identity theft in SIM Registration wherein counterfeit IDs may be used in the registration of SIM cards, enabling malicious actors to engage in criminal activities such as fraud, harassment, and scams while remaining anonymous. With this, the NPC is reminding all concerned PICs, PIPs, and data subjects “to take this advisory seriously and remain vigilant, refraining from any actions that could jeopardize their personal data.”

Application on LBP-DBP merger not yet with BSP C  A

the probability of failure of DSIBs by increasing their going-concern loss absorbency and to reduce the extent or impact of failure of DSIBs on the domestic/real economy,” the MORB said.

Maharlika

IN relation to the GFIs, the BSP confirmed that at least one of these institutions has sought the approval of the Monetary Board for regulatory relief in relation to the Maharlika Investment Fund (MIF). Remolona said the regulatory relief is crucial since the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) will be providing capitalization for the MIF. “[For now, they’re still] compliant...even after the contribution to the Maharlika. In principle, we can provide forbearance, which allows them not to comply for a period of time. But they will be expected to comply at some point. Forbearance is always temporary,” Remolona said. According to BSP Supervisory Policy and Research Department Director Maria Cynthia Sison, on the part of these banks, asking for regulatory relief is part of their efforts to be compliant with BSP regulations. She said if and when these banks are “under forbearance” it will also have to be disclosed, as investors neeed to be informed of their situation.

Risks

REMOLONA said while the banking sector—particular big banks—“is in very good shape,” the BSP is still watching out for various risks that could affect the current stability of the sector. One of these risks, Remolona said, is the debt levels of major corporations. The “elevated debt level” of these corporations, while very manageable at this point, is still being

watched by the BSP. Remolona said the BSP is monitoring the developments, especially if banks need emergency liquidity in light of these elevated debt levels. “We’re also making sure,” he said, “that we will be in a position to provide the emergency liquidity” should there be a need by the banks for such, although “we don’t see any need at the moment for emergency liquidity.” Remolona said, “We are having conversations all the time with foreign central banks.” The BSP said it is constantly in contact with the US Federal Reserve, the European Central Bank, the Bank of Japan, and Asean banks such as the Bank of Thailand. They have regular meetings and compare notes. Some of these meetings are conducted through the Executive Meeting of East Asia Pacific (EMEAP) central banks. “So the different central banks compare notes. EMEAP is a strange name, it stands for Executive Meeting of East Asia Pacific central banks. I would say it’s the most intelligent meeting among Asian central banks. The discussions are very serious. So it’s very helpful,” Remolona said. Based on BSP data, Remolona said the banking system remains on solid footing with its assets expanding to P23.5 trillion as of the end of August 2023. Philippine banks have lent P13 trillion to customers and deposits have reached P17.9 trillion during the same period. Net profits of banks reached P182.8 billion as of the end of June 2023. In terms of Non-Performing Loans, the ratio sits at 3.4 percent and banks have an NPL Coverage Ratio of 103 percent as of the end of August 2023. Remolona also said the banks’ capital adequacy ratio is at 16 percent at the end of March 2023, and that the country had “highly-liquid” banks, with the liquidity ratio reaching 183.1 percent as of the end of June 2023. Cai U. Ordinario

Special Feature

Thursday, October 12, 2023

SM Prime Holdings Inc. turnovers fire tanker to Volunteer Fire Brigade of Pasay City The second donated fire tanker supports and strengthens community resilience.

PASAY City Mayor Emi Calixto-Rubiano

(L-R): Bureau of Fire Protection-National Capital Region Director Chief Superintendent Nahum Tarroza, SM Supermalls’ President Steven Tan, Volunteer Fire Brigade of Pasay City Inc. President Ben Chua Ching Jr., Pasay City Mayor Emi Calixto-Rubiano, Volunteer Fire Brigade of Pasay City Inc.’s Dionisio See Siu Chun, and SM Supermalls’ Senior Assistant Vice President for Customer Relations Services Almus Alabe

PASAY City Congressman Antonino Calixto

(L-R): Bureau of Fire Protection-National Capital Region Director Chief Superintendent Nahum Tarroza, Volunteer Fire Brigade of Pasay City Inc. President Ben Chua Ching Jr., Pasay City Congressman Antonino Calixto, SM Supermalls’ President Steven Tan, and Volunteer Fire Brigade of Pasay City Inc.’s Dionisio See Siu Chun

M Prime Holdings Inc. once again manifested its commitment to promote a global and national culture of disaster risk reduction by providing a fire tanker to the Volunteer Fire Brigade of Pasay City on October 6, 2023. The turnover of the donated fire tanker was led by SM Supermalls’ President Steven Tan, and witnessed by Pasay City Mayor Emi Calixto– Rubiano, Bureau of Fire ProtectionNational Capital Region Regional Director Chief Superintendent Nahum Tarroza, and SM Supermalls’ Senior Assistant Vice President for Customer Relations Services Almus Alabe. Mr. Ben Chua Ching Jr., President of Volunteer Fire Brigade of Pasay City Inc., and Mr. Dionisio See Siu Chun received the fire tanker

on behalf of their organization. The fire tanker is capable of supplying 5,000 gallons of water which is equivalent to five (5) fire trucks with 1,000 gallons of water capacity. Water discharge from said tanker will last 50 minutes of continuous discharge. The donated tanker can discharge water and at the same time be a source of water supply for other fire trucks. A Memorandum of Agreement was also signed between SM and the Volunteer Fire Brigade. Mr. Steven Tan, in his speech, emphasized the

importance of the partnership. He said, “The partnership with the Volunteer Fire Brigade of Pasay City Inc. is one of the ways we help our communities by extending assistance to organizations that contribute to disaster risk reduction, including those that help in fire prevention and suppression.” Pasay City Congressman Antonino Calixto was also present in the turnover ceremony.

IT is the second fire tanker that SM Prime Holdings Inc. has turned over to the Volunteer Fire Brigade of VOLUNTEER Fire Brigade of Pasay City Inc. Pasay City Inc.

President Ben Chua Ching, Jr.

BUREAU of Fire Protection-National Capital Region Director Chief Superintendent Nahum Tarroza SM Supermalls’ President Steven Tan

SM Supermalls’ Assistant Vice President for Corporate Compliance Group Atty. Pearl Turley

Memorandum of Agreement signing between SM Prime Holdings Inc. and Volunteer Fire Brigade SM Prime Holdings Inc, Pasay City, and Volunteer Fire Brigade of Pasay City Inc. officials with the newly turned-over fire tanker. of Pasay City was witnessed by the Bureau of Fire Protection and Pasay City Government

FANDOM HUB FOR ALL Y SM Supermalls in North Luzon celebrates fandoms of all kinds. OUR favorite SM Supermalls in North Luzon is the place to be for every fan base community. Today’s modern culture of fandom caters to fans sharing the same love, passion and interest — be it favorite performers, or such as the foodies, movie buffs, car enthusiasts and many more! Recently the malls have hosted a fun gathering of fans dedicated to several fave artists. Moreover, catch the ultimate Fandom Festivals this coming month of October in your favorite SM Supermalls in North Luzon. Let’s meet fellow fans and party with your bias following these schedules of each SM malls: SM City San Fernando Downtown Taylor Swift Fan Fest on October 14, SM City Bataan Swifties Night on October 14, SM City Olongapo Central P-pop Fan

Meet on October 14, SM City Marilao 1989 Taylor Swift Pre Launch Party on October 15, SM City Pampanga HYBE Labels Fan Festival on October 15, SM City Baguio K Pop Fest on October 21, SM City Urdaneta Central SB19 A’TIN Fan MeetUp on October 21, SM City Tuguegarao SB19 Night Out on October 21, SM City Cabanatuan Engene ENHYPEN on October 21, SM City Telabastagan Blink Fan Festival on October 21, SM City Baliwag Swifties Night Out on October 22, SM City Valenzuela Engenes Rave on October 22, SM City Clark 1989 Listening Party on October 28, SM City Cauayan Blink Rave on October 29 and SM City Pampanga Hallyuween on October 29.

SWIFTIES gathered for a night of dancing and singing along the pop star’s hit songs at SM City Grand Central last October 8

ENJOYING the night of ultimate listening party with fellow Swifties at SM Grand Central last October 8

VIBRANT atmosphere and electrifying energy of the Swifties gathering at The Event Center of SM City Pampanga last September 10 GATHERED in unity, Bataan’s ARMY shines brighter than ever at the BTS Army Assembly in SM City Bataan on October 7

STRAW hat crew unite! One Piece fans enjoyed a day of fun and amazing activities in partnership with ONE PIECE PH at SM City Marilao last August 30

PANGASINAN Swifties take an “usie” shot for a night to remember at the Swifties Version fandom night at SM Center Dagupan last October 7

CERTIFIED NCTzen unite in their most stylish OOTD for a fun day at SM Center Pulilan Mall Atrium last October 1

AN AJU NICE Saturday for Carats as they cheer their bias from the Seventeen boy band last September 23 at SM City Valenzuela

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

Thursday, October 12, 2023

Brawner asserts Scarborough Shoal still part of PHL territory P

PBBM declares Oct 30 special non-working holiday for BSKE

By Rex Anthony Naval

H E A r m e d Fo r c e s o f the Philippines (AFP) on Wednesday asserted that Scarborough Shoal, also known as Bajo De Masinloc, is part of the country as it is located within its exclusive economic zone (EEZ). The AFP issued the statement after China claimed possession of the shoal and stressed that this maritime feature is part of their territory. It even named it Huangyan Island in their maps.

AFP chief-of-staff Gen. Romeo Brawner Jr., in a radio broadcast interview, dismissed this claim by China as Scarborough Shoal is within the Philippine EEZ. “We are insisting na hindi sa kanila yan at nasa EEZ natin yang area na yan (ng) yung Bajo De Masinloc o yung Scarborough Shoal (We are insisting that it is not theirs as Bajo De Masinloc or Scarborough Shoal is within our EEZ),” he added. Scarborough Shoal lies some 120 nautical miles away from the nearest Philippine landmass

which is Zambales. In the same interview, the AFP chief said that there are still no signs that China is erecting any structure off Scarborough Shoal. “Well sa ngayon wala naman pong mga structures dun sa Scarborough Shoal (Well, as of now, there are no structures in Scarborough Shoal),” he added. The AFP chief also maintained that China did not chase away a Philippine Navy (PN) vessel found in the vicinity of Scarborough Shoal last Tuesday.

And while the Filipino naval vessel was challenged by the China coast guard (CCG), it proceeded on its maritime patrol mission, Brawner said. “Hindi po totoo na itinaboy tayo ng CCG so sa aking palagay ay propaganda lamang ng CCG yun (it is not true that the CCG drove our ship away, it is just propaganda of the CCG),” he added. Also, Brawner maintained that it is part of the AFP’s mandate to patrol the country’s territorial waters and its EEZ.

RESIDENT Ferdinand R. Marcos, Jr. declared October 30, 2023, Monday, a special nonworking holiday all over the country to allow people to vote for the Barangay and Sangguniang Kabataan Elections. In his Proclamation No. 359, the Chief Executive said the measure will allow Filipinos to participate in the BSKE 2023 after being postponed multiple times. This after the Supreme Court issued a ruling, which set the date of the BSKE on the last Monday of October 2023. The last BSKE was held in 2018. “It is imperative that the people be given the full opportunity to participate in the said elections and exercise their right of suffrage,”

Marcos said. T he Comm ission on Elect ion (Comelec) was able to register over 91 million voters, who will be able to cast their votes in 37,259 voting centers in the BSKE. Over 1.4 million candidates have filed their certificate of candidacy (COC) for barangay chairperson, Sangguniang barangay member, Sangguniang Kabataan chairperson, and Sangguniang Kabataan member. A total of 672,432 seats will be available during the upcoming polls. The new proclamation was issued by the President on October 9, 2023 through Executive Secretary Lucas P. Bersamin, but was only released to the media last Wednesday.

Samuel P. Medenilla

Envoy’s visit to Army chief highlights deeper defense ties between Manila and New Delhi

IGHLIGHTING the strong military ties between the two nations, India Ambassador to the Philippines, Shambhu S. Kumaran visited Philippine Army (PA) commander Lt. Gen. Roy Galido on Tuesday and discussed the growing defense relationship between the two countries. “Lt. Gen. Galido and Ambassador Kumaran discussed the

growing bilateral defense relationship and matters of mutual interests of both countries. The Army chief also conveyed his appreciation to the Indian Ambassador for bolstering ties with the Indian Army regarding defense and security,” PA spokesperson Col. Xerxes Trinidad said in a statement Wednesday. He also said that India and the Philippines formally established

diplomatic relations on November 26, 1949, shortly after both countries gained independence. “Some of the bilateral engagements of the two countries include the signing of a memorandum of understanding (MOU) on Defense Industry and Logistics cooperation in November 2017 and the establishment of the Joint Defense Industry and Logistics Committee (JDILC) under the MOU,”

Trinidad said. The Philippines’ defense relationship with India has been on the upswing as the South Asia nation won the contract for the BrahMos medium range ramjet supersonic cruise missile system. The Armed Forces of the Philippines, through the Philippine Marine Corps, will use the Brahmos as its first-ever shore based anti-ship missile system.

Deliveries are expected by the end of the year. This weapon platform is expected to address the military’s weaknesses and vulnerability in sea control, anti-access/areadenial (A2/AD), and coastal and island defense operations. The BrahMos cruise missile can be launched from a ship, aircraft, submarine, or land and has a top speed of around Mach

2.8 (around 3,400 kilometers per hour), and is capable of carrying warheads weighing 200 to 300 kilograms. Then Defense Secretary Delfin Lorenzana and BrahMos Aerospace director general Atul Dinkar Rane signed the BrahMos contract worth P18.9 billion in a virtual ceremony at its headquarters in Camp Aguinaldo, Quezon City on January 28, 2022. Rex Anthony Naval

www.businessmirror.com.ph

Thursday, October 12, 2023

DOTr chief denies corruption accusation, eyes filing of raps By Lorenz S. Marasigan

@lorenzmarasigan

EPARTMENT of (DOTr) Transportation Secretary Jaime J. Bautista said on Wednesday he will file charges against individuals who are “maligning” him by tagging him in a corruption allegation in the Land Transportation Franchising and Regulatory Board (LTFRB). In a recorded video message sent to reporters, Bautista categorically denied that he was or is involved in any corrupt practices, as alleged by transport group Manibela and former LTFRB Executive Assistant to the Chairman Jeff Tumbado. “I am saddened by the baseless allegations being thrown at me— that I am involved in corruption. Please allow me to categorically say that I never accepted any money or favor since assuming the post of transportation secretary,” Bautista said.

On Monday, Tumbado, a practicing journalist who was tapped by the LTFRB previously as the head of its communication unit, alleged that suspended LTFRB Chairman Teofilo Guadiz II is taking “bribes” to hasten the issuances of regulatory documents and franchises. Manibela, a transport group led by transport worker Mar Valbuena, also tagged the ranks of the DOTr, certain lawmakers, and ultimately the Office of the President in the alleged corrupt practices.

Manibela, which has been actively opposing the Public Utility Vehicle Modernization Program (PUVM), also demanded Bautista’s resignation. But the 66-year-old Bautista, a former executive of Philippine Airlines (PAL) who went out of retirement in response to President Marcos Jr.’s call, denied that his office had any involvement in the allegations. “When I took the helm of the DOTr, I vowed to serve the country and the Filipino people with integrity, which to me is more precious than any material wealth,” he said. Bautista said he would file charges against those who are accusing him. “I intend to strongly defend the truth and my name so I plan to file the appropriate formal complaint to whoever has been maligning me. W hile these allegations may have disrupted us from our work, I vehemently deny involvement in any corruption or inappropriate activities,” he said. Guadiz has been suspended and was temporarily replaced by LTFRB Board Member Mercy Paras Leynes, who is acting as officer-in-charge-chairperson to the LTFRB.

BOC files criminal charges vs suspected smugglers of toxic chemicals, choppers By Jasper Emmanuel Y. Arcalas @jearcalas

HE Bureau of Customs (BOC) said it recently filed two criminal complaints with the Department of Justice (DOJ) against smugglers of illicit chemicals and helicopters. In a statement, the BOC said it filed the complaints last October 6 against two separate importers who misdeclared their shipments. The first case involves a shipment that arrived at the Port of Manila in August that was declared to contain 652 drums of Molybdate. However, the shipment was misdeclared after Customs personnel uncovered that it contained steel drums filled with Sodium Cyanide

at a purity level of 98 percent instead of Molybdate. The shipment was determined to have originated from China. “This hazardous cargo has led to the implicated importer facing one count of violation of Section 1401 (e) in connection with Sections 1400 and 117 of Republic Act No. 10863, commonly known as the Customs Modernization Tariff Act (CMTA); Republic Act (R.A) 6969, the Toxic Substances and Hazardous and Nuclear Wastes Control Act of 1990; and Depa r t ment of Env i ronment and Natural Resources Administrative Order No. 39, Series of 1997, the Chemical Control Order for Cyanide and Cyanide Compounds,” the Customs said on Wednesday.

Meanwhile, the BOC said the other case was a separate incident that involved a shipment that arrived at the Manila International Container Port (MICP) last May. The shipment was declared to contain surplus helicopter components but turned out to be containing two units of used helicopters along with associated parts, according to the BOC. “ The consignee involved in this case is now facing one (1) count of violation of Section 1401 (e) and Section 1400 in connection with Section 1113 of the CMTA,” it said. The BOC said it has filed 87 c r i m i n a l compl a i nt s aga i nst smugglers with the DOJ since January. The BOC earlier disclosed that it has conducted 730 anti-smuggling operations that resulted in the seizure of P35.963-billion smuggled goods.

Sen. Go’s team extends aid to Caloocan City fire victims

ENATOR Christopher “Bong” Go directed his team to provide assistance to recovering fire victims in Caloocan City on Saturday, October 7. Held at Abes Elementary School and in coordination with Congresswoman Mitch Cajayon-Uy, Go’s team provided grocery packs, drinking water, meals, snacks, vitamins, masks, shirts, and balls for basketball and volleyball to 174 affected families. Meanwhile, shoes and mobile phones were given to select recipients. The affected families also received financial assistance from the government, while the National Housing Aut hor it y (NH A) conducted

an assessment wherein qualified households may receive necessary housing assistance. “Yung mga mag-qualify ay maaaring mabigyan ng National Housing Authority ng ayuda pambili ng housing materials tulad ng pako, yero at iba pa upang maisaayos muli ang kanilang mga tirahan,” Go said in a video message. Go highlighted the vital importance of strengthening government initiatives for fire prevention. He emphasized the need for the government to enhance its fire protection programs to include public awareness campaigns, particularly in urban poor areas prone to fires.

“Imp or tante ang i n for m at ion campaig n lalo sa mga lugar kung saan dikit-dikit ang mga bahay para maiwasan ang sunog dahil kapag may nasunog na isang bahay, damay ang iba,” said Go. T he law maker went on to note how Republic Act No. 11589 or the Bureau of Fire Protection (BFP) Moder nization Act of 2021, which he primarily authored and co-sponsored, would significantly improve BFP ’s capability to respond to firerelated incidents. It also mandates the bureau to implement monthly f i re pre ve nt ion c a mpa i g n s a nd infor mation dr ives in ever y loca l gover nment unit.

Barangay officials reminded to facilitate release of indigency certificates for needy By Jovee Marie N. Dela Cruz @joveemarie

ITH the implementation of the Malaya Rice Project, the chairman of the House Committee on Metro Manila Development on Wednesday called on barangay officials to not withhold barangay indigency certificates from those in need. Manila 2nd District Rep. Rolan Valeriano, the panel chairman, said that the provision of indigency certificates is not a discretionary power of barangay officials but a moral and legal responsibility.

Recently, in a display of accountability and transparency, Valeriano said a barangay chairman from Manila faced the consequences of refusing to issue these certificates. Valeriano noted that a barangay indigency certificate is a crucial tool for prov iding assistance to those who are less fortunate. “Let us not withhold barangay indigency certificates from those in need,” he told barangay officials, who are tasked with upholding the welfare and well being of their constituents. Earlier, Speaker Ferdinand

Martin G. Romualdez announced that the House of Representatives and the Department of Social Welfare and Development (DSWD) would distribute rice and financial aid to at least 2.5 million Filipinos within the next two weeks under the Malaya Rice Project. Romualdez said each beneficiary would receive P1,000 and 15 kilos of rice worth P500 to P600, with the process taking “less than a month.” Romualdez said he has asked the 33 House members to identify 10,000 indigent residents who would receive the rice assistance, including senior citizens, solo parents, and persons with disabilities. Barangay indigency certificates, often referred to as “certificates of indigency,” are documents issued by barangay officials to certify the financial status of an individual or family. “It is often the smallest of units that play the most significant role in the lives of its residents—the barangays,” Valeriano added. According to Valeriano, these certificates are primarily used to avail of various government services, such as medical assistance, educational support, and social welfare programs, and they are essential for ensuring that every citizen has access to the basic amenities and support they need to lead a dignified life. Va ler i a no, mea nwh i le, acknowledged that barangay officials face several challenges when deciding who should receive these certificates. Limited resources and the potential for abuse can make this task daunting. However, he urged officials to prioritize transparency and fairness in their decisions. He said he understands the challenges faced by barangay officials and calls for collaboration to ensure that indigency certificates are distributed fairly.

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CAMELLA IS DEVELOPER OF THE YEAR AND BEST PREMIUM HOUSE IN LAMUDI THE OUTLOOK 2023: PHILIPPINE REAL ESTATE AWARDS

AMELLA celebrates a resounding victory at The Outlook 2023: Philippine Real Estate Awards by Lamudi, cementing its prominent presence in the real estate industry with triple prestigious accolades.

Best Developer in Luzon

With unwavering dedication and a commitment to excellence, Camella is recognized as the Best Developer in Luzon, a testament to its outstanding contributions to Luzon's property landscape. Division Head for North Luzon, Rochelle Alpasan, expresses pride and gratitude for the recognition, "along with the many men and women who have made Camel la the Philippines' largest homebuilder for close to g ive decades. We w il l continue building not only houses for Filipinos, but forever homes they can celebrate their milestones in."

Best Developer in Visayas and Mindanao

In Visayas and Mindanao, Camella's inf luence shines even brighter as it secures the coveted title of Best Developer in Vi-sayas and Mindanao, showcasing its widespread impact and commitment to quality across these regions. Upon receiving the award, Division Head for Visayas, Lily Donasco says that the "acknowledgment not only gives im-portance to the accomplishments we have made over the past years but inspires us to reach greater heights in the re-gion and beyond."

Best Premium House in Visayas and Mindanao

Adding to these remarkable achievements, Camella's commitment to crafting premium homes of unparalleled quality in Mindanao is also acknowledged as it proudly receives the award for Best Premium House in the region. The award was conferred to Camella Gran Europa, located in the scenic vicinity of Lumbia, Cagayan de Oro. The thriving community that showcases excellently

crafted homes is part of Vista Land's expansive estate in the city. This recognition underscores Camella's unwavering dedication to providing quality and comfortable living spaces to its discerning clientele in Mindanao, with Division Head for Mindanao, Natanette Pardito, emphasizing the "affirmation of the hard work and dedication our stakeholders have graciously provided every day." Camella is the country's largest property developer with nearly five decades of building experience and pioneering con-cept leadership. Its focus is on building communities that embody innovation and progress with family and community life in mind, creating a legacy of value for generations. The developer has provided a roof for more than 500,000 families in locations where they wish to set down their roots. Camella chooses to reach farther across the countr y than any other property developer because it understands Filipi-nos' ties with the places where they grew up and created their most beautiful memories in. This is why Camella has earned its rightful place as the top-of-the-mind brand in the Philippine housing industr y. Camella's triumphant performance at Lamudi The Outlook 2023: Philippine Real Estate Awards ref lects its dedication to setting new standards in the industry, further solidifying its reputation as a premier developer and a symbol of excel-lence in the real estate market. To know more about Camella communities and their developments nationwide, visit https:// www.camella.com.ph/ and follow @CamellaOfficial.

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Thursday, October 12, 2023

DOJ names DA officials, cohorts allegedly behind onion price manipulation last year By Joel R. San Juan @jrsanjuan1573

HE Department of Justice (DOJ) on Thursday named three officials of the Department of Agriculture and several other individuals allegedly behind the price manipulation of onions last year. At a news briefing, Remulla said graft charges would be filed

against Agriculture Assistant Secretary Kristine Evangelista; officer-in-charge of DA-Agribusiness and Marketing Assistance Service (AMAS) Junibert De Sagun; and DA-Officer-in-Charge of the Bureau of Plant Industry (BPI) Gerald Glenn Panganiban for giving unwarranted benefits or preference to Bonena MultiPurpose Cooperative for the supply and procurement of onions.

The said DA officials are also facing administrative charges for inefficiency and incompetence in the performance of official duties under Section 46 of the Revised Administrative Code of 1987. Aside from graft Bonena representatives namely Israel Reguyal, Mar y Ann Dela Rosa and Victor Dela Rosa Jimenez are also facing hoarding and profiteering charges under R.A. 7581

or the Price Act and falsification of private documents and use o f fa l si f ied doc u ments before t h e D O J. Just ice Secret a r y Jesus Crispin Remulla said the justice department and the NBI are likely to file more charges in the future. Remulla also said the DOJ expects the issuance of arrest warrants against the respondents

once they filed the cases in court. Earlier, DOJ Undersecretary Geronimo Sy said the NBI recommended the filing of a complaint against the six individuals who were allegedly behind the supply and procurement of 8,000 bags each containing 25 kilos of onions amounting to P134 million in December 2022. A supplier allegedly offered the onions to the government

at a ve r y h i g h pr ice of P537 p e r k i lo. Their names, however, were withheld pending further review of the NBI’s complaint. “The cases have already been evaluated and now ready for filing [before the Department of Justice] for the conduct of preliminary investigation,” Senior Deputy State Prosecutor Richard Anthony Fadullon said.

62 companies join San Juan City jobs fair, six applicants hired on the spot By Claudeth Mocon-Ciriaco @claudethmc3

IXTY-TWO companies joined the mega job fair spearheaded by the City of San Juan local government in partnership with Greenhills (GH) Mall, on Wednesday to provide employment opportunities and boost nation building in the city. Jobs available were offered from various establishments in GH Mall, s u c h a s re s t a u r a n t s, re t a i l s t o re s, employment agencies, car accessories s h o p s, j e we l r y s t o re s, b o o k s t o re s, banks, eyewear shops, and health and

beauty clinics . “GH Mall Management is grateful to its partnership with San Juan City, led by Mayor Francis Zamora. We can create more jobs here in the City of San Juan that will boost business and tourism,” James Candelaria, GH Mall AVP and head of mall operations said, as he welcomed the employers, applicants and city officials. Mayor Zamora, along with Vice Mayor Angelo Agcaoili and councilors Macky Mathay and Ervic Vijandre, Vice President and Head of Ortigas Mall Arch. Renee Bacani, Ms. Marites Ortigas, and Ms. Alex Ortigas observed the job fair. Partner national agency Department of

Labor and Employment (DOLE) Director Beth Cagara was also present during the event. Zamora thanked GH Mall and their executives for giving this opportunity to San Juaneños. “Salamat sa GH Mall, sa mga officials, at sa employers present at ako’y umaasa na mabigyan ninyo ng pagkakataon ang aming mga mamamayan na makapagtrabaho sa inyo. At makakaasa kayo ng buong suporta mula sa Pamahalaang Lungsod. We will make San Juan a very business-friendly city for all of you. Mararamdaman ninyo na madaling magnegosyo sa aming lungsod,” the mayor said.

Zamora also explained that the city is fully implementing its “San Juaneño First Policy” Program,” which means that the city will prioritize providing jobs for its residents to increase its employment rate and allow them to afford better lives for their family and become contributing members of society. The mega job fair will also be a one-stopshop for job seekers since partner agencies from the DOLE, Social Security System, Bureau of Internal Revenue, PhilHealth, and PAGIBIG Fund will also have their booths to provide assistance. Meanwhile, the local government’s Public

Employment Service Office (PESO) is also available to assist job seekers Monday to Friday at the San Juan City Hall. Part of their main program is to match the skill set of individuals to companies with job openings to help them land a decent job through the local government unit’s digital skills registry. This will also help companies get employees who are already vetted by the local government.

Job seekers hired on the spot

AN hour after the mega job fair started, six applicants were already able to secure jobs from employers who joined the job fair. These lucky applicants expressed

their gratitude to the efforts of the local government and GH Mall in mounting this job fair. “The experience is amazing po kasi pwede na mag -start na agad ng work, magpa-process lang ng requirements, start na agad ng work. Mga two months na po [ ako naghahanap ng work], buti may pa-job fair si mayor. Thank you kay Mayor Francis Zamora for bringing the job fair here in San Juan. Masaya kasi taga-rito lang ako sa San Juan tapos yung work dito lang rin sa San Juan,” John Christian Baldorado, who was hired by Golden ABC as custodian/store officer-in-charge, said.

Provence, A Vista Estates Development, Wins DOT Property 2023 Best Township Development

ROVENCE is named Best Township Development of 2023 at the recent DOT Property PH Awards. Real Estate website DOT Property recently held its eighth DOT Property Awards at The Peninsula Manila, Makati, where the best and the brightest of the Philippine real estate industry gathered for a night of accolades, celebration, and shared success. The website held its awarding process on a percountry basis, with Thailand, Vietnam, and the Philippines each receiving a set of winners, shining a brighter spotlight on each country’s top real estate developers. Multiple awards were given at the event, from Best Office Development to Best Villa Interior Design, making the night a proper recognition of architecture, interior design, and property management. The Best Township Development Award celebrates the innovative concept of townships as more than just a property but a development with limitless potential from conception, execution, and administration. Provence is being recognized for the efforts of the stakeholders behind the Malolos-based estate as it establishes an exceptional master-planned, self-sufficient community. It is a development where a combination of mixed-use, commercial, institutional, and residential nodes work in synergy to benefit the people within its walls and those of its neighboring communities. Vista Land Sales Administration Head Claudette Agulto and Project Marketing Head Gennie Magno said, “Building something amazing requires vision, innovation, and a commitment to creating sustainable and vibrant communities. Vista Land, the largest integrated property developer in the Philippines, has embarked on a mission to redefine what it means to build amazing lifescapes through Provence, A Vista Estates Development.” Agulto acknowledged Vista Land’s chairman and founder, stating, “Allow us to express our heartfelt gratitude to DOT Property Awards for this recognition you have awarded to Vista Estates, our founder and Chairman, Manny B. Villar, and salute our dedicated colleagues, our relentless business partners, who have worked tirelessly to bring 2023’s vision to fruition. I am pleased to receive an award for Provence, the premier megacity in the North.” Inspired by the joie de vivre of Southeastern France, where Mediterranean calm meets modernday dynamism, Provence is a sprawling 350-hectare masterplanned expanse, marrying internationally renowned design and practical function, complete with the staples of fellow Vista Estates properties: enterprise, residential, commercial, leisure, and residential hubs, all within the boundaries of a single metropolis. Through Vista Estates, Vista Land is investing into master planned developments, making good on its promise to its homebuyers and investors to continue creating superior offerings, and, more importantly, deliver excellent long-term investment growth. Vista Estates’ master-planned developments are at the forefront of creating lifescapes where people can find truly memorable experiences. As the brainchild of visionary Villar, Vista Estates was born from his dreams of creating the nation’s best communities and bringing world-class experiences to the Philippines. To learn more about Provence and the rest of Vista Estates’ new wave of master-planned communities, visit https://vistaestates.vistaland.com.ph/ and follow @VistaLandAndLifescapesOfficial on Facebook and @VistaLandOfficial on Instagram.

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A10 Thursday, October 12, 2023

PBBM orders release of aid to families of Hamas attack fatalities in Gaza Strip P

RESIDENT Ferdinand R. Ma rcos Jr. ordered t he immediate release of assistance to the families of two confirmed Filipino fatalities and others affected by the ongoing Israel-Hamas war. “The President likewise vowed continued support to affected Filipinos,” the Presidential Communications Office (PCO) Secretary Cheloy V. Garafil said in a brief statement. O verseas Workers Welfare Administration (OW WA) Administrator Arnaldo “Arnell” Ignacio said among the assistance they extend to the relatives of the deceased Filipinos include a P220,000 burial and financial aid. In response to the tragic loss of two Filipino lives during the recent conflict in Israel, the Department of Social Welfare and Development (DSWD) on Wednesday vowed to provide assistance to the affected families. Philippine Ambassador to Israel Pedro “Junie” Laylo, Jr. said they did not disclose the identities of the deceased in line with their family’s request for privacy. He said President was expected to speak with the relatives of those

who died last Wednesday “to convey his personal condolences and offer additional assistance.” “My heart is heavy upon hearing confirmation of the deaths of two Filipinos in Israel. The Philippines condemns these killings and stands firmly against the ongoing terror and violence,” Marcos said. The Philippine Embassy in Israel said there is one more reported Filipino fatality, but is still subject to confirmation by DNA evidence. T here a re c u r rent ly t hree missing Filipino in Israel, whose whereabouts are being traced by embassy officials. Over 1,200 people died from the attack in southern Israel, which prompted Israeli government to dec lare war aga inst Hamas and launch an counteroffensive at the Gaza Strip. Despite the reported fatalities, Laylo said they are not recommending for any repatriation efforts in Israel due to the improving security situation in the said country. “The Israeli military has retaken control of the communities infiltrated by Hamas militants. Rocket attacks have considerably lessened

except in Southern Israel. People can move freely in areas far from the combat zone and we have returned to work here at the embassy since Sunday,” the embassy official said in an online press briefing last Wednesday. DFA Undersecretary Eduardo De Vega said Israel is currently under Alert Level 2 or the restriction phase, which will prohibit newly hired overseas Filipino workers from being deployed in the said country.

DSWD aid

DSWD Secretary Rex Gatchalian said the DSWD Operations Group is now locating the families of the two Filipinos who were killed in the ongoing conflict in Israel so that the department can extend the necessary assistance to them. Gatcha lian specif ica l ly instructed Undersecretary for the Operations Group, Pinky Romualdez, to establish contact with the Department of Migrant Workers (DMW) to gather information about the families of the two Filipino migrant workers who tragically lost their lives during a surprise attack by militant group Hamas in southern

Israel on October 7. “Can we get in touch with DMW? Find the families here. Send our teams of grief counselors. Then let’s extend all possible financial assistance,” Gatchalian told Romualdez of the Operations Group. W hile Gatchalian acknowledged that no amount of financial aid could alleviate the profound pain of the families who lost their loved ones in the Hamas attack, he emphasized that the DSWD is committed to extending all possible assistance. Assistant Secretary for Strategic Communications Romel Lopez said financial aid under the Assistance to Individuals in Crisis Situations (AICS) program is available to families of the two slain Filipinos. Lopez said psychosocial counseling would be given to ensure a holistic approach to help individuals through these challenging times. “As the department helps individuals through these difficult times, psychosocial counseling will work hand in hand with financial support to ensure a comprehensive approach,” Lopez said. In addition to financial sup-

port, he said the affected families would be referred to their respective regional DSWD offices, where social workers will assess their needs and determine the appropriate services they require in their hometowns. T h e r e a r e a p p r o x i m at e l y 30,000 Filipinos residing in Israel, with an additional 137 living in the Gaza Strip, where the recent attacks by Hamas occurred. House Committee on Overseas Workers Affairs Chairman Ron Salo conveyed his deepest condolences to the families of the two Filipinos, who tragically lost their lives in the ongoing Israel-Palestine conflict. “The unfortunate incident has brought to light the urgency of a robust response to the escalating situation in Israel and Gaza,” he said. Salo emphasized the need to ensure the safety of overseas Filipino workers (OFWs) and their families as he called for the creation of a dedicated Crisis Management and Response Task Force, which would closely monitor the situation and implement a swift and comprehensive response. “This task force will ensure the safety and welfare of our

kababayans caught in the crossfire,” Salo explained. “It will also provide the necessary support and assistance for their immediate evacuation and repatriation when needed.” In addition to the safety and welfare of OFWs, Salo underscored the importance of upholding international humanitarian law, as stated in the Geneva Conventions, to protect the rights and dignity of civilians in conflict zones. For her part, OFW Party List Rep. Rep. Marissa Magsino also extended her heartfelt condolences and concerns in light of the tragic passing of two fellow Filipinos amidst the ongoing turmoil in Israel and Gaza. She said the situation of overseas Filipinos and OFWs caught in the midst of the tensions in Israel and Gaza is undeniably challenging. “The tragic loss of two Filipinos serves as a poignant reminder of the challenging circumstances faced by Overseas Filipinos and the importance of collective efforts to ensure their safety and the resolution of the ongoing conflict,” she said. Samuel P. Medenilla and

Jovee Marie N. Dela Cruz

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News

Group calls for transparency on spending of rechanneled confidential, intel funds By Jonathan L. Mayuga

@jonlmayuga

FTER the House Committee on Appropriations scrapped the confidential funds for the Office of the Vice President, Department of Education, and three other national government agencies, fisherfolk group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) called for transparency on the spending of the would-be rechanneled funds. All in all, a total of P1.23 billion worth of confidential funds were removed after the House panel agreed to reallocate P194 billion from the proposed 2024 national budget for

2024 to other government budget items, for among others, address the rising cost of basic commodities, and develop and protect the West Philippine Sea (WPS).

Other agencies, which lost their confidential fund allocation under the House’s proposed amendments, are the Department of Agriculture, Department of Information and Communications Technology, and Department of Foreign Affairs. Benefitting from these rechanneling are the National Intelligence Coordinating Agency (NICA), which will get P300 million, Philippine Coast Guard for intelligence activities, P200 million and the National Security Council receiving P100 million. “The removal of billions of pesos of confidential funds to the civilian government agencies headed by VP Sara Duterte is a bare minimum thing to do, especially in the face of economic crises battering the Filipinos. This recent development can be fully credited to the persistent efforts of progressive legislators and the public to expose the anomalous confidential funds,” Pamalakaya said in a statement. “While we recognize the urgency to rechannel these funds to agencies directly involved in the defense of

Comelec en banc suspends voter registration in Israel By Patrick V. Miguel

HE Commission on Elections (Comelec) en banc on Wednesday suspended voter registration of Filipinos residing in Israel, Comelec Chairman George Garcia said.

The duration of the suspension is “indefinite” and the poll body has yet to decide whether to extend it or not, Garcia told reporters in an ambush interview. “Ayaw po nating isakripisyo ang kanilang buhay, ang kanila pong safety (We do not

want to sacrifice their lives, their safety),” said Garcia. What is important right now is that the Filipinos in Israel are in a safe place, he added. “It is hard to risk the lives of our countrymen now that the situation there is

the West Philippine Sea, the public still deserves utmost transparency,” the group, a persistent critic of the government said. “For instance, the group said NICA and NSC would be getting an additional P300 million and P100 million, respectively, from the rechanneled funds. We deserve to know how these additional funds will be used specifically for the protection of our territorial waters,” the group said, adding that the same rechanneled funds should never be used to commit human rights abuses. The group said that if the government truly wants to strengthen the defense and claim in our territorial waters, it might as well fund the local research and development to explore and fully utilize the resource potentials of the WPS. “Lastly, in terms of concrete defense measures, the local maritime authorities must step up reconnaissance patrol in our territorial waters to secure the fishing activities of Filipino fisherfolk,” Fernando Hicap, national

chairperson of fisherfolk group, said.

not yet good,” Garcia told reporters in Filipino. In a Viber message, Comelec Spokesman John Rex Laudiangco said that Israel has 13,364 registered Filipino voters during the 2022 National and Local Elections (NLE). 59 percent of them or 7,871 have voted. As of the July 17, 2023 Election Registration Board Hearing, there are 9,906 Active Overseas Filipino Registered Voters in the State of Israel, Laudiangco added.

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

MPH launches ‘Project Nightingale’ to augment shortage of PHL nurses By VG Cabuag

@Villygc

ETRO Pacific Health Corp. (MPH) on Wednesday launched a program aiming to augment the shortage of nurses in the Philippines. The company said it called the program as “Project Nightingale,” a first-of-its-kind initiative that aims to empower both Filipino nursing students and current nurses in the country. “As the Heart of Filipino Healthcare, Metro Pacific Health shoulders the vital responsibility of addressing the health-care needs of our people, ensuring services that are sustainable, accessible, and affordable,” Annabelle R. Borromeo, group chief nursing officer, said. “Project Nightingale is our response to a pressing challenge in the healthcare landscape—the nursing shortage. This is not only a Filipino issue but also a global one, impacting countries worldwide. This year, we are introducing an initiative that not only aims to address this challenge but more importantly, celebrates nursing excellence,” she said. This month, Metro Pacific Health brought to the national stage its first-ever inter-nursing school, quiz-based competition, It started with a series of hospital-level events that have been running since May 2023, the last of which happened on September 27. Over 500 students spread across 200 schools throughout the country participated in the hospital level rounds, competing to be their hospital’s representative in the national championship. Apart from cash prizes, each student in the hospital-level round received a P100,000 scholarship to fund their nursing studies. The company is also giving a nursing excellence award to recognize outstanding nurses in three categories: clinical nursing, nursing leadership and nurse education. From 47 nominees across 18 Metro Pacific hospitals, 15 finalists have been identified, and a distinguished jury of nursing and health leaders will determine the winners in each category. The company is also holding an expo that will serve as a platform to showcase the group hospitals as institutions of healthcare and as great places to grow and nurture their nursing careers. “It is also MPH’s way of showing its support to all future nurses about to embark on the challenge of the Nursing Licensure Exam in November,” Borromeo said.

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Thursday, October 12, 2023 A13

Data breach affects PSA’s CBMS info By Cai U. Ordinario @caiordinario

H E Ph i l ip pi ne St at i st ic s Authority (PSA) disclosed Wednesday that its recent data breach affected information contained in the Community-Based Monitoring System (CBMS). The CBMS would specifically collect data on the health and nutrition situation in households; type of

housing structure; household's access to water and sanitation; education; literacy; community participation; and sources of livelihoods, among other socioeconomic development indicators. The database, once completed, could be used as a basis even for national programs such as the Conditional Cash Transfer (CCT) program. "The PSA is assessing what personal data from the CBMS may have

been compromised and will share information with the relevant authorities and the public in due course," National Statistician and Civil Registrar General Claire Dennis S. Mapa said. "The agency is taking additional preventive and containment measures to ensure the security and integrity of all systems and databases that it manages, including shutting down and isolating the system known to have been affected," he added.

PSA also warned the public that social media posts with the alleged sample data include links that contain malware that may be used by cybercriminals and bad actors to perpetuate other illicit acts. As such, PSA said, the public is strongly advised not to click on such links. "The PSA strongly condemns this activity, and we will be working with all law enforcement agencies to apprehend the perpetrators," Mapa

also said. The PSA is committed to ensuring the integrity of its data and confidentiality of the information collected through its surveys, censuses, PhilSys and Civil Registration System (CRS). In line with this, the agency, in collaboration with all authorities, continues to maintain and strengthen its technical, organizational, and physical security measures. Last October 7, 2023, information

about an alleged data leak involving a system managed by the PSA was posted by a certain actor on social media. The PSA immediately activated its Data Breach Response Team (DBRT) and launched an investigation. The PSA has coordinated with the Compliance and Monitoring Division of the National Privacy Commission (NPC), the National Computer Emergency Response Team-Philippines (NCERT-PH) of the Department of Information and Communications Technology (DICT), and the AntiCybercrime Group of the Philippine National Police (PNP) in relation to this matter.

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Comelec to suspend proclamation DMW deploys team to repatriate 27 of BSKE bets with pending DQ cases human trafficking victims in Cambodia T T HE Commission on Elections (Comelec) en banc on Wednesday has agreed to suspend the proclamation of Barangay and Sangguniang Kabataan Elections (BSKE) candidates who will win in the upcoming elections but with unresolved disqualification cases. “Kapag may merits ang kaso, may ebidensya laban sa isang kandidato at kung hindi pa nare-resolve ang kaso bago mag-eleksyon (If the case has merits, has evidence against a candidate, and it is yet unresolved before the elections), we are willing to suspend any proclamation of any candidate with pending disqualification cases,” Comelec Chairperson George Erwin Garcia said in a speech.

Garcia disclosed the en banc's decision on the sidelines of the memorandum of agreement (MOA) signing with the Department of the Interior and Local Government (DILG). The move will apply to candidates with unresolved cases like premature campaigning or vote buying. Garcia refuted arguments that the poll body’s jurisdiction ends once the results of votes are out. “The will of the people cannot prevail over the rule of law, and therefore, that is the principle that we are going to adapt as far as all violations of election laws are concerned,” he said. Garcia said barangays have nothing to worry if a winning candidate in

their locality is not proclaimed right away due to a pending disqualification case. “May kagawad naman na number one, under local government code, siya muna ang magsasucceed, hanggat hindi nare-resolve iyong kaso na nasa komisyon (The No. 1-ranked councilor, under the local government code, may succeed, as long as the Commission has not yet resolved the case),” he said. The Comelec chief also mentioned the possibility of carrying out a similar strategy for the 2025 national and local Elections (NLE).

BSKE rules THE Comelec, meanwhile, signed an agreement with the DILG to ensure that all local government units (LGU) will adhere to BSKE rules and refrain from supporting BSK bets' vote-buying strategies. “Through the DILG, mapagsasabihan iyong mga local officials na huwag kayong makialam dito sa ating barangay election, huwag kayong mamimigay ng gagamitin nila sa pamimili ng boto (The LGUs may be reminded not to meddle in the barangay elections and to refrain from giving resources for vote-buying),” Garcia said during the news conference. The poll body earlier warned local officials to avoid involving BSK candidates in local aid distribution as this may be presumed or classified as vote buying. Likewise, Garcia reminded all

candidates to stick to the PHP5 per voter budget rule for the upcoming campaign period. “Maganda po na masunod na lang iyong ating pag-iikot na wala tayong hinahagis, binibigay, o inaabot (It's better to just campaign without throwing, giving, or handing out [anything of value]),” he said in a separate ambush interview. The Comelec earlier emphasized that the distr ibution of ballers, caps, t-shirts and other campaign giveaways is considered vote-buying. To date, around 60 complaints of vote buying have been submitted to the Comelec and are now under verification. The poll body said it expects more petitions to be filed as the campaign period nears, from Oct. 19 to 28. As to premature campaigning, the Comelec has so far filed 107 disqualification petitions and issued 5,768 show cause orders against BSK bets, with responses from 2,340 recipients. For his par t, DILG Secretar y Benhur Abalos vowed to spearhead an information campaign on votebuying and vote-selling in all LGUs, as well as train DILG and local government personnel in identifying and gathering evidence on election offenses. “We’re ready to support the Comelec to safeguard the ballot. Labanan natin ang pagbili at pagbebenta ng boto, isang pinakamasamang kanser ng lipunan,” Abalos said. PNA

HE Department of Migrant Workers (DMW) deployed on Monday, October 9, a team to Cambodia to assist in the repatriation of 27 overseas Filipino workers (OFWs) trafficking victims who were duped into working for illegal online financial and phishing operations in the southeast Asian country. DMW Officer-in-Charge Hans Leo J. Cacdac, in a news statement. said the department is working with the Department of Foreign Affairs (DFA) and the Philippine Embassy in Phnom Penh, Cambodia (PE-Phnom Penh) in documenting the cases of the victims. “This is yet another incident in the growing number of cases involving the illegal recruitment of our overseas Filipino workers (OFWs) for illegal online financial operations,” Cacdac noted. The DMW team, led by Assistant Secretary Francis Ron de Guzman, will provide legal and financial assistance as well as psychological first aid to the rescued OFWs. The Filipino victims entered Cambodia as tourists as early as January this year. They were informed that they would be working as tech support representatives but were forced to work in an online scamming facility in the O’Smach District

located near the Thai border. They were rescued with the help of the Cambodian National Police (CNP) on Tuesday, September 26. The CNP intercepted the convoy, which was about to transport them from the O’Smach District to another online scamming facility in the coastal city of Sihanoukville. The DMW and PE-Phnom Penh are working closely with Cambodia’s Ministry of Social Affairs, Veterans, and Youth Rehabilitation in processing the cases of the 27 victims for their eventual repatriation. Consul-General Emma Sarne of PE-Phnom Penh said the victims are being supported with donations of food, snacks, and hygiene kits through the help of the Filipino community in Cambodia led by the Samahan ng mga Pilipino sa Cambodia (SAMAPI), and the Philippine Eagles chapter of Phnom Penh. Consul-General Sarne added the Embassy is also working with the International Organization for Migration (IOM), the A21 Foundation, Caritas Cambodia, and other partner agencies in the Philippines in extending assistance to the victims and facilitating their immediate return home.

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Truck importers belie extortion claims vs SBMA’s seaport dept

By Henry Empeño

UBIC BAY FREEPORT—Truck importers based in this free port have come forward in defense of the Subic Bay Metropolitan Authority (SBMA) and refuted allegations of extortion raised recently by some customs brokers and processors operating at the Port of Subic. In a letter clarifying its stand on the controversy, the Subic Bay Truck Importers Association (SBTIA) headed by its president

Pietro V. Geroue expressed full support to the SBMA and refuted claims of corruption against the management of the agency’s sea-

SBMA Chairman Jonathan D. Tan assures Subic port users of fair play during a meeting with customs brokers and Congressman Jay Khonghun SBMA PHOTO

port department. They also called out the “malicious allegations and false accusations” raised by brokers in

a meeting with SBMA Chairman and Administrator Jonathan D. Tan and added that they “profoundly express full support” to

the SBMA management. “As companies paying duties and taxes to the government, we adhere to the rules and regulations, policies and procedures being implemented by SBMA and other concerned agencies,” the SBTIA said in its October 2 letter. “We would like to replace these unscrupulous brokers/processors who are giving a bad name to the association,” it added. The letter was signed by Geroue, association vice-presidents Eva Tadus and Shahzad Ahmad, and other members of the board. Officers of 31 truck trading companies operating in Subic also signed the manifesto. Brokers, accompanied by Zambales First District Representative Jay Khonghun, complained

of extortion against certain officers at the SBMA Seaport Department in a meeting with Chairman Tan at the SBMA boardroom on September 29. Right there and then, Tan immediately ordered an investigation into the allegations against SBMA Seaport Department manager Jerome Martinez and consultant Rico Reyes. Tan also assured the brokers that he would conduct a thorough investigation of their complaints and come up with a swift decision concerning the two officials. The SBMA chief also told customs brokers and port users in a recent meeting that SBMA would not tolerate corruption in the freeport, especially if this involved SBMA officials. As for the importers and other port users, “They don’t have to bribe someone for their shipments if they pay the right taxes,” Tan added. Tan, a former town mayor in Antique, assumed office as SBMA chair man just last May. T he SBMA said he has been working with an “open door policy” since then and has warmly welcomed locators with various concerns.

Tesda still the most ‘approved, trusted’ govt agency–survey I N a recent survey conducted by PUBLiCUS Asia, the Technical Education and Skills Development Authority (Tesda) maintained its status as the “most approved and trusted” government agency in the Philippines.

According to the 3rd quarter PAHAYAG Survey, Tesda got a 75 percent approval rating, higher than its previous 72 percent rating in the 2nd quarter survey. In addition, Tesda also remains as the most trusted government

agency after tallying a 61 percent trust rating, higher than its 2nd quarter 58 percent trust rating. “ Tesda remains committed to its mand ate of upsk i l ling and reskilling the middle-level Filipino workforce,” said Tesda

Director-General Secretary Suharto Mangudadatu. Tesda was followed by the Armed Forces of the Philippines (AFP) with 57 percent trust rating, and the Bangko Sentral ng Pilipinas (BSP) with 56 percent.

During the first quarter survey, TESDA ranked first in approval and trust ratings with 73 percent and 60 percent ratings respectively. “We shall further strengthen our programs and services, and

bring them closer to the communities,” Mangudadatu added. The PUBLiCUS Asia 3rd Quarter PAHAYAG Survey was conducted from September 7 to 12 with 1,500 respondents nationwide. Patrick V. Miguel

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PBBM vows PHL support to Israel, thanks IDF for ensuring safety of 3 missing Pinoys

By Samuel P. Medenilla

sam_medenilla

resident Ferdinand R. Marcos Jr. has committed to support the Israeli government in its war against Hamas forces following the militant group’s deadly attack during the weekend.

The Chief Executive made the commitment in his meeting with Israeli Ambassador Ilan Fluss at the Malacañang Palace on Wednesday afternoon. “The President assured Ambassador Fluss that the Philippines will always stand with Israel in this war against the inhuman terrorist attacks by Hamas,” the

Presidential Communications Office (PCO) said in a brief statement. During the meeting, Fluss briefed the President on the updates on the measures being implemented by the Israeli government following the attacks, which killed over 1,200 people, including 2 Filipinos. He assured Israeli Defense

Forces (IDF) is doing all it can to ensure the safety of the three missing Filipinos. For his part, Marcos thanked the IDF for rescuing over 20 Filipinos and bringing them to safety. Philippines maintains its strong bilateral ties with Israel, which stems from the country accepting Jewish refugees

during the Holocaust. Marcos continued to foster the said relationship after he hosted Israeli Foreign Minister Eli Cohen last June to discuss possible agriculture partnership and investment deals. Cohen was the first highranking Israeli diplomat, who visited the country in 56 years.

Manila holds first halal food festival T he local government unit (LGU) of Manila on Wednesday showed its support to the Muslim community as it launched its first-ever halal food festival, highlighting world-class Filipino halal cuisines. Held at the Bonifacio Shrine or Kartilya ng Katipunan in Ermita, Manila Restaurant Week 2023 highlights Manila halal food and features special halal cuisines from 30 local exhibitors and merchants in the city. Some of the unique flavors that may be explored in the festival

are authentic halal food like biryani (spiced mix of rice and meat), variations of masala (spice mix), pizza, smoked or grilled seafood, tiyula itum (Tausug’s black braised beef or goat soup using charred coconut meat), satti (skewed beef and chicken strips and livers), shawarma, ice cream and local desserts, among others. Marlon Lacson, Secretary to the Manila Mayor, underscored the value of supporting the industry considering the rich history of the nation’s capital. “This occasion marks that we

value and treasure our Muslim brothers and sisters. Manila used to be a Muslim town or city. We’re used to be headed by Raja, Datu before the Spaniards came,” he said in a speech. For her part, Manila Muslim Affairs Chief Director Shey Sakaluran Mohammad said, “The City of Manila’s promotion and development of halal practices represents more than just a culinary or economic endeavor. It’s a symbol of respect, diversity, and openness to the world.” “This integration in the global

Around 30 local merchants grace Manila’s first-ever halal food festival with their unique and authentic Filipino halal specialties on Wednesday (Oct. 11, 2023) at the Bonifacio Shrine or Kartilya ng Katipunan in Ermita, Manila. Some of the halal food offered in the festival were biryani, masala, pizza, smoked or grilled seafood, skewed beef and chicken strips and local desserts, among others. Screengrab

halal market can be a catalyst for strengthening diplomatic ties and fostering international cooperation, most importantly, to develop the local halal industry,” she said. She added promoting the halal food industry could also create more jobs and develop more skills and livelihood in Manila. Meanwhile, the Department of Trade and Industry (DTI)-Export Marketing Bureau cited the impact of

the food festival on micro, small to medium enterprises (MSMEs) in the city. “This event is a testament to how an LGU can be a top supporter of one of our major growing industries in the world. You’re putting a premium on the crucial roles of our MSMEs not only in the development of the industry but in the economy itself,” Dr. Jhino Ilano, Assistant Director of the DTI-Export Marketing Bureau, said in a separate speech.

He said the DTI is working to forge a memorandum of understanding to bring more Filipino halal exports to its neighboring Muslim countries. Among the participating countries in Manila’s halal food festival were representatives from Brunei, Malaysia and Indonesia. The public may visit the Manila Halal Food Festival until October 13 from 10 a.m. to 9 p.m. PNA

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Remulla orders NBI to probe ‘escort service’ scam involving BI officials J

By Joel R. San Juan

US T IC E Sec ret a r y Jesu s Crispin Remulla ordered the National Bureau of Investigation (NBI) on Wednesday to look into another scam involving certain officials and officers of the Bureau of Immigration (BI) offering “escort services” for incoming and outgoing travelers in exchange for a fee. At a news briefing, Remulla likened the illegal scheme to the so-called pastillas scam where unscrupulous immigration officers would extort money ranging from P10,000 to P20,000 from

foreigners, mostly Chinese nationals, for unhampered entry into the country. “The past few days I’ve been receiving many calls about corruption being practiced in the certain acts of corruption in the Bureau of Immigration. Escort services for that matter and we’re looking at that right now,” Remulla said. “The pastillas [scheme] is a form of an escort service that was practiced before and it seems this is being revived, [there is] resurgence and very creative ways of doing it. But, we are looking at this now. This escort service, this is what we are looking into now. Es-

corting people in and out, those with problems in their visas and in their passports are being escorted in and out of our gates by unscrupulous BI officials and syndicates attached to them,” Remulla said. Remulla said aside from the NBI probe, he would also meet today, Thursday, with BI Commissioner Norman Tansingco to discuss and resolve the issue. In connection with this, the BI announced that it intercepted a female trafficking victim after she presented a document with a fake signature of a DOJ official. BI Commissioner Norman Tansingco disclosed that the

30 -year-old v ictim presented herself for primary inspection at the Ninoy Aquino International Airport (Naia) Terminal 1 in an attempt to leave the country via a Philippine airlines flight to Singapore. The victim initially claimed to be a DOJ employee working as an administrative staff and is set to travel to Singapore as a delegate for an official travel, together with Undersecretar y Nicholas Felix Ty, who serves as the undersecretary-in-charge of the Inter-Agency Council Against Trafficking (IACAT). He is currently in Thailand at-

tending a forum on people smuggling, trafficking in persons, and related transnational crime. The victim presented a travel authority purportedly signed by Ty. However, officers noted inconsistencies in the signature, which prompted them to verify with the DOJ. It was later confirmed that the travel authority presented was fake, and that the victim was actually recruited to work in the United Arab Emirates (UAE) as an entertainer. She allegedly paid 38,000 UAE dirham for her fake documents, which she will pay through salary

deduction for two years. The victim admitted that her documents were just given to her in a fast food chain near the airport. “The fake documents presented in this case is ridiculous,” Tansingco said. Faking the signature of the undersecretary-in-charge of IACAT to avoid scrutiny is the idea of these illegal recruiters and human traffickers who will not stop finding ways to evade inspection,” he added. The victim was turned over to the DOJ-IACAT for further investigation and filing of charges against those behind the scheme.

DICT installs satellite broadband in 438 GIDA areas in N. Luzon

he Department of Informat ion and Communicat ions Technology (DICT) recently completed the installation of satellite broadband in 438 geographically isolated and disadvantaged areas (GIDA), bringing internet connection to some of the farthest reaches of the country. I n a s t a t e m e nt r e l e a s e d o n

Wednesday, DICT Secretary Ivan Uy said the project, which involved the installation and activation of very small aperture terminals (VSAT) in the provinces of Benguet, Kalinga, Ifugao, Ilocos Norte, Quezon and Pangasinan, was completed in 30 days. “ T his achievement highlights both DICT’s commitment to digital

transformation in GIDA regions. Residents in Northern Luzon can

now readily access essential digital services via high-speed broadband,” Uy said. Aside from providing internet connection to the public, he said, the project would help students through online education and transform remote areas into digital communication hubs. “By providing high-speed internet

connectivity to these GIDA sites, this project also equips the provinces’ micro, small and medium enterprises (MSMEs) with the tools to participate in the thriving e-commerce landscape,” he added. T he Cybercrime Investigation and Coordinating Center (CICC), an attached agency of the DICT, led the deployment of VSATs in these areas

to ensure their compliance to industry standards. The VSATs are powered by internet service provider Stellarsat Solutions Inc. and Kacific Broadband Satellites. It is part of the DICT’s national broadband project that aims to provide connectivity to 65 percent of the Filipino population that lack internet access. PNA

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offers prayers and Seven Cavite cops axed over Prelate sympathies for casualties looting at drug suspect’s home of Israel-Hamas conflict

even of the eight Cavite police officers who were caught on video while ransacking the house of a retired professor in an anti-drug operation have been dismissed from the service. At a news briefing in Camp Crame, Quezon City on Wednesday, Philippine National Police (PNP) spokesperson Col. Jean Fajardo said top cop Gen. Benjamin Acorda Jr. has signed the dismissal order against Staff Sergeants Jesus Alday, Julius Barbon, and Emil Buna; Corporals Jenerald Cadiang and Lew Amando Antonio; and patrol officers Reymel Czar Reyes and Rene Mendoza. “They will be slapped with six counts of grave misconduct, two counts of less grave misconduct, one count of grave irregularity in the performance of duty, grave dishonesty and conduct unbecoming of a police officer,” Fajardo said, adding that Acorda based his decision on the

recommendation of the police force’s Internal Affairs Service. This stemmed from the Aug. 2 operation of the members of the PNP Drug Enforcement Group (PNPDEG) unit, who were in civilian clothes when they forcibly entered the house of 67-year-old suspect Rebecca Caoile in Barangay Alapan 1-A, Imus City, Cavite. In a viral video, Caoile was heard screaming for help during the incident. It also showed that other cops who remained outside of the suspect’s residence were tinkering with a parked motorcycle and some police officers carrying some items from her house, including a tire and a motorcycle rim. The police officers also allegedly

took cash, a laptop, and other items from Caoile’s residence. Caoile was then arrested. They were relieved and taken into police custody after the incident pending criminal and administrative investigation. Charges of robbery were later filed against them. Meanwhile, the eighth police officer, Senior Master Sgt. Daisy Diones has been exonerated from grave misconduct charges. “There was no enough basis or evidence to find her guilty because accordingly, her only participation was to frisk the female suspect. She

was not involved in the act of forcibly entering the house,” Fajardo said. Fajardo, however, said Diones would undergo a pre-charge investigation for neglect of duty, while relieved Imus Police chief Lt. Col. Michael Batoctoy and several other police officers would also undergo pre-charge investigation for neglect of duty under the doctrine of command responsibility. She added that the penalty for grave neglect of duty would depend on the result of the pre-charge investigation on the embattled police officers. PNA

n official of the Catholic Bishops Conference of the PhilippinesEpiscopal Commission for the Pastoral Care of Migrants and Itinerant People (CBCP-ECMI) on Wednesday expressed sympathies to those who died, including two Filipinos, in the ongoing conflict between Israeli forces and Palestinian militant group Hamas. In a statement, CBCP-ECMI vice chair Bishop Ruperto Santos said they are also praying for strength for the families of the two Filipinos who perished in the attack. “We remember with tremendous sorrow those who lost their lives, especially our two OFWs (overseas Filipino workers). We commend them to God’s mercy to welcome them in His Home, and to His healing love for the bereaved family. May God sustain them, with His grace make them strong and keep them safe and secured in this very trying time,” the Antipolo bishop said.

Santos said they are also ready to help government agencies such the Department of Foreign Affairs (DFA) and the Department of Migrant Workers (DMW) in attending to the needs of the OFWs. “We extend our hands and offer our assistance. Here, our Church is ready and always available to be of service to them, especially with their sons and daughters. Our diocesan migrant ministries will be there to help and to serve,” he added. Santos assured that they continue to offer prayers for peace to reign and also to those affected by the unrest. “We have asked our dear chaplain to pray and offer holy masses with the intentions for peace, end of violence and return to civility and respect for human life,” the Catholic prelate said. Meanwhile, Santos issued a “Prayer for Israel”, appealing for God’s intervention and to protect the innocent. PNA

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Remulla urges legislators to pass law against ‘demanda me’ scheme T

he Department of Justice (DOJ) on Wednesday urged lawmakers to pass a law against the “demanda me” scheme where foreigners plot with litigants to file trumped up criminal charges against them to prevent their deportation by immigration officials to their home country.

In a statement sent to reporters, DOJ spokesperson Assistant Secretary Mico Clavano said the scheme, which was first revealed by Secretary Jesus Crispin Remulla during the agency’s budget hearing at the Senate on Monday, is a current concern that “they have been guarding against and have been building reforms against.” Clavano said several embas-

sies have sought the DOJ’s help to deport fugitives back to their jurisdiction. “However, every time they request, and after we look at our records, we see a pattern where after commitment into the custody of the Bureau of Immigration, cases are immediately filed against those who are detained at the immigration detention center,” he said.

The cases are usually for violence against women and children or fraud (estafa), he added. “Yet, upon strict scrutiny of the evidence on hand as well as intelligence reports, it is found that these cases are either very weak or absolutely fabricated,” he added. Clavano said a pending case in the prosecutor’s office or in court is a ground to prevent the deportation of a foreigner.

“As such, the filing of weak or fabricated cases is their desperate attempt to stay their deportation. We respectfully seek the wisdom of the Congress and Senate to pass legislation to stop this abusive practice,” he said. The DOJ said it is willing to provide all the necessary statistics, case studies and other relevant information for consideration of lawmakers. PNA

LGU post awaits street sweeper’s child who placed 9th in CPA exam I

LOILO CITY – A permanent job at the local government unit (LGU) awaits 24-yearold Romelyn Gabanto, who ranked ninth in the Certified Public Accountant (CPA) licensure examination administered by the Professional Regulation Commission (PRC) last month. Gabanto is the youngest of the four children of Roland, a street sweeper for 13 years now,

and wife Milagros Gabanto. The new accountant’s elder sibling did not finish college. Roland, 61, accompanied her daughter during a courtesy call on city officials, led by Mayor Jerry Treñas, at the city hall on Tuesday. “Initially, I offered her a job as a contract of service [employee] because she has yet to take her oath. Once she has

taken her oath, she will be a regular in our Accounting [department]. We are very happy, we are very proud. This is our homegrown,” Treñas said in an interview. Gabanto said her family has always been her inspiration, despite all difficulties. She said it was her father who convinced her to take up Accountancy.

She enrolled at the Central Philippine University and was on private sector scholarship. “From the start, you must have a clear ambition of becoming a CPA. Instill discipline, you need to have self-restraint, proper time management, and be consistent with your study habits,” she advised students aspiring to also become a CPA. PNA

Romelyn Gabanto (2nd from left) is joined by her parents Roland and Milagros (3rd and 4th from left) during a courtesy visit to Iloilo City Mayor Jerry Treñas on Tuesday (Oct. 10, 2023). Treñas said Romelyn will have a regular job at the accounting department of the city hall after she takes her oath as a CPA. PNA photo by PGLena

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Judiciary moves forward, blending tech and humanware for responsive courts

By Joel R. San Juan

that allows the assessment and payment of legal fees and other collections in a more convenient and accessible manner by providing litigants, counsels and persons requesting for clearances, certifications, and other services from the courts the option to pay online through major banks and digital wallets. “By harnessing the power of innovation and utilizing advanced technologies, we aim to reduce delays in case processing and disposition, increase efficiency of court services, and improve justice system-wide collaborations,” CJ Gesmundo said.

@jrsanjuan1573

N 2020, the coronavirus disease (Covid-19), which originated in China, hit the Philippines. Travel in and out of the country came to a halt, social gatherings were restricted, communication was limited to the use of gadgets and social media, schools were shut down, the economy went spiraling down, many lost their jobs due to the closure of some businesses. Flaws in the healthcare system were exposed as thousands of Filipinos died during the onslaught of the virus. While many sectors were struggling to cope with the hardships and challenges brought by the pandemic, the judiciary found silver linings amid the crisis. The pandemic served as a “reset button” for the judiciary, giving it the reason and opportunity to embrace technology into its operations to improve its efficiency, accessibility and transparency. It ushered in a new age—the age of technology—where virtual court proceedings, electronic filing, electronic payment, online consultations, digitalized Bar examinations and the use of artificial intelligence have become the new normal. Just t wo months after he assumed his post on April 5, 2021, Chief Justice Alexander

GESMUNDO

Gesmundo recalled the courtesy call by the Justice Reform Initiative or JRI, an umbrella organization composed of leading business organizations in the country. In the meeting, details of which CJ Gesmundo shared with the Businessmirror in an email interview, he revealed his plan to innovate the Philippine court system in response to some concerns raised by some of the guests. Several months later, the Gesmundo-led Court approved the proposal to require the use of body

cameras for law enforcers to address issues of human rights violations committed during service of search and arrest warrants. Gesmundo accelerated the adoption of technology that was envisioned, put into a blueprint, and launched at the height of the pandemic., which is now called the Strategic Plan for Judicial Innovations (2022-2027). The SPJI lays down the plans, objectives, and goals of the Court to increase efficiency, innovation, and access in the Judiciary during the five-year period. The plan included the use of videoconferencing for virtual court proceedings which kept the wheels of justice running despite various restrictions implemented during the pandemic. It also launched the Judiciary ePayment System (JePS), platform

Bar exams system overhauled

DUE the health and travel restrictions during the pandemic, the Court decided to totally change the way Bar examinations are being conducted. From a centralized and handwritten set-up, the Gesmundocourt has adopted a “digitalized, localized and proctored modality” for the 2020-2021 Bar examinations and vowed to adopt the same system in future Bar exams. In the offing is the activation of the eCourt version 2 which aims to utilize technology to enable shiwft and efficient dispensation of justice. The eCourt version 2 is a unified, comprehensive, and intelligent case management system for the entire Judiciary. It is mainly comprised of six key feature—eFiling, ePayment, eRaffle, eService, Intelligent Case Monitoring and Tracking (ICMT), and eRollo.

24-hour E-Legal Consultation ?

LIKEWISE, CJ Gesmundo is not discounting the possibility of replicating in the judiciary the so-called “telemedicine,” which uses digital information and communication technologies to provide health care services remotely and in-real time to patients. However, he stressed that this would entail thorough discussions and planning with other stakeholders. “While the concept of a 24-hour ‘E-Legal Consultation’ in coll aborat ion /consu ltat ion w it h other stakeholders such as the IBP [Integrated Bar of the Philippines], Public Attorney’s Office, and DOJ [Department of Justice], can be a valuable resource for the public by providing accessible legal support round-the-clock, this is a significant endeavor that demands careful planning and implementation,” the Chief Justice said when asked if the SC is willing to formulate guidelines for such. For now, he said, the public may rely on the SC’s website for a directory of legal aid providers. “We shall continue to enhance this to widen the access of the public tolegal services being offered by the relevant justice sector agencies as part of our collective commitment under the Justice Sector Coordinating Council or JSCC,” he assured.

‘AI should never replace humans’

MEANWHILE, the Chief Justice said the use of artificial intelligence (AI) for legal research and other court operations is now being thoroughly studied.

In line with this, he said, the Court is currently redeveloping the Judiciary E-Library which will include AI-enabled technologies to improve its legal research capabilities. “We are looking into installing a search engine which will provide more accurate and reliable results by utilizing natural language processing technology,” CJ Gesmundo disclosed. When asked what other roles AI can do in the field of justice, CJ Gesmundo said they are now looking into the possibility of using AI to improve Court operations and improve access to Courts. Currently, the SC has deployed AI-enabled Voice-to-Text transcription technology to 20 pilot courts spanning from lower courts to tertiary courts. “Using machine learning, technology will learn from conversational data and account for perceived challenges. If successful, the technology shall be rolled out to additional Courts,” the chief magistrate shared. Gesmundo hopes this will improve and speed-up transcription of Court proceedings. He added exploratory talks are now ongoing for the possibility of producing an AI generative chatbot that will aid the public in answering queries pertaining to Court processes. While there are benefits of giving AI a role in the judiciary, CJ Gesmundo also acknowledged that there are risks and challenges that come with it. See “Judiciary,” A21

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Tax court rules for BIR in ₧1.26-B Nestle bid for refund of sugar tax

By Andrea E. San Juan @andreasanjuan

HE Bureau of Internal Revenue (BIR) has won the P1.26-billion tax case filed by one of the world’s largest food and beverage companies, Nestle Philippines, Inc.

This, after the Court of Tax Appeals (CTA) denied the petition filed by Nestle seeking the refund of the amount of P1.26 billion representing the Sweetened Beverage Tax (SBT) that it paid from May 1 to December 31, 2018. In a 23-page ruling dated October 6, 2023, the CTA’s Special Third Division did not give merit to the claim of Nestle that its MILO products are

milk products excluded from the coverage of SBT imposed under Section 150-B of the Tax Code. “The Court disagrees. Petitioner’s MILO products fall within the enumeration of the Tax Code of sweetened beverages subject to SBT, and are also not among those excluded in the Code,” the CTA ruled. In its petition for review, Nestle asked the CTA to declare that

it is not liable to pay SBT on its removals of MILO products; declare that it is entitled to a refund of erroneously paid SBT amounting to P1,266,599,459.91; and order the BIR to refund the said amount. Nestle is engaged in the manufacture of food and beverages, including MILO, a powdered chocolate malt flavored milk drink which is marketed by petitioner in various packs. It argued that its products fall under Category “Flavored Fluid Milk Drinks” and classified as composite milk products which are excluded from the coverage of SBT. However, the CTA held that MILO is a sweetened beverage and not a flavored milk exempted from the SBT. It noted that Section 150B of R.A. No. 10963 or the TRAIN Law (Tax Reform for Acceleration and Inclusion ) imposes a tax of P6 per liter of volume capacity on sweetened beverages using purely caloric sweeteners, and purely non-alcoholic sweeteners, or a mixture of caloric and noncaloric sweeteners.

Sweetened beverages are defined as non-alcoholic beverages that are prepackaged and sealed in accordance with Food and Drug Administration (FDA) standards, that contain caloric and/or noncaloric sweeteners added by the manufacturers. These include other powdered drinks, not classified as milk, juice, tea, and coffee. “An examination of the ingredients of the MILO products mentioned in the FDA Certificates presented by petitioner clearly shows that, while the said products have malt as one of its ingredients and is marketed by petitioner as a choco malt powdered milk drink, cocoa and/or cocoa powder and sugar are likewise present in the said MILO products,” the CTA said. “Such being the case, the MILO products subject of the present petition cannot outrightly be categorized as fluid flavoured milk drinks as the same can also be categorized as cocoa-sugar mix… Being cocoa-sugar mixtures, the MILO products are not excluded from SBT,” the CTA said.

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Continued from A20

“The thought of replacing justices,

judges, legal professionals, and court staff with AI may diminish public trust and confidence in the judicial system,” he said. He explained that “delivery of justice is often synonymous with the ability of judges to arrive at a decision equipped with a deep understanding of the complexities involved and the nuances of the case due to the legal expertise that they have acquired.” If AI will be used in making decisions, the Chief Justice pointed out, the public might perceive it “as mechanical and without ethical consideration.” Such scenario, he added, “may lead to questions regarding the fairness and morality of judicial decisions.” “Our judicial proceedings are complex in such a way that it requires nuanced interpretation that aligns with the rule of law. As such, AI may not be able to grasp the complexities of instances where a contextual interpretation is needed and in contrast, may provide a mechanical interpretation contrary to the spirit of the law,” he warned. Thus, CJ Gesmundo maintained, AI should never replace humans, especially when it involves judicial proceedings and processes. “I must emphasize that AI is a tool for us, human beings, in carrying out our judicial mandates, to maximize productivity and increase efficiency. The extent of AI use in judicial proceedings and processes should be determined through a deliberative system,” CJ Gesmundo said. “AI should never replace humans, especially when it involves judicial proceedings and processes, since ethical considerations and human judgment are imperative to ensure fairness, transparency, and accountability within our justice system,” he said when asked as to what extent he would allow the use of AI in court proceedings and processes.

Measures vs technological risks

IN his speech during the 2023 Social Good Summit held a few months ago, CJ Gesmundo stressed the need to engage with technology critically and not to embrace the same heedlessly. “Even as we use its tools—more and more of them becoming indispensable in how we live and work—we have to be mindful. We have to make space to think of things like ethical considerations,

social impacts, environmental consequences, even its impacts on our own selves and relationships with others,” he said. He also urged lawmakers and policymakers to take a proactive role and to have the disposition of “anticipatory governance” with regard to possible consequences of technological advances. Even SC Associate Justice Rodil Zalamede warned that technology should be used cautiously and responsibly by those in the field of justice. In his keynote as guest of honor at the IBP-Capiz Chapter’s Induction of New Members and Installation of Officers and Fellowship Night held on August 18, 2023 in Roxas City, Zalameda cited a recent case in the United States where a group of lawyers was sanctioned for having submitted a legal brief which included fictitious case citations generated by the artificial intelligence chatbot, ChatGPT. “This is a proof that for all its limitless potentials and benefits, technology carries risk for the reckless,” Zalameda said. So, what proactive measures have been put in place to mitigate the impact of technology on its core values such as transparency, confidentiality, independence and efficiency? Gesmundo assured that the Court“is harnessing the power of technology and innovation while balancing the demand for judicial independence.” He noted that one of the guiding principles contemplated in the SPJI is “transparent and accountable justice” with the aim of achieving the outcomes of efficiency, innovation, and access. The Court is likewise implementing robust data privacy and security measures to safeguard sensitive information. “To ensure transparency, we continue to engage our stakeholders in our plans for the judiciary by disseminating information and materials about the SPJI and soliciting feedback,” the Chief Justice noted. He added that oversight bodies are actively monitoring and auditing the Court’s technological usage to ensure accountability. When asked if the public is now seeking the coming of age of the judiciary in terms of technology, CJ Gesmundo replied : “Today, I am glad to say that innovation is no longer a plan, it has already become a reality.”

A22

News

BusinessMirror

Thursday, October 12, 2023

www.businessmirror.com.ph

OP seeks P10.7B more to fund PBBM trip, Palace infra rehab

By Samuel P. Medenilla

@sam_medenilla

HE Office of the President (OP) urged Congress to increase its budget next year to P10.7 billion to help fund President Ferdinand R. Marcos Jr.’s increasing local and overseas travels, and massive infrastructure rehabilitation efforts in Malacañang. The amount is 17.78 percent higher compared to the P9 billion budget of the OP this year. “We are asking for a modest increase, but at a rate that is within the norm of previous fiscal years,” Bersamin said. Most of the increase will go the capital outlay, which will increase P590 million to P1.68 billion in the proposed 2024 budget. It will be used for the reconstruction of the Mabini Hall Building and rehabilitation of various OP properties in Metro Manila and Baguio City to ensure they are earthquake proof and comply with the eco-friendly

building regulations. “It is also the opportune time to revive the necessary infrastructure works within the Palace complex that have been stalled due to the pandemic in support for the build better more priority program of the President as well as to safeguard the overall security of all those who work hard for the attainment to the objectives of the presidency taking into consideration the Philippine Green Building Code,” Bersamin said. The appeal for more funding was made, even as several groups called out the OP or not giving up, or at least cutting, its confidential

ANGARA.PHOTO BY SENATE PRIB

and intelligence funds (CIF), a day after a House of Representatives

review panel took out or slashedthe CIFs for the Office of the Vice President, Department of Education, Department of Foreign Affairs and the Department of Information and Communication

Technology. The amount sought by the Palace will also be utilized for the procurement of “energy-efficient and euro-compliant” motor vehicles for the “re-fleeting and augmentation

program of the Malacañang Motor Pool Office. OP wants to raise its P6.9-billion budget for its maintenance and other operating expenses (MOOE) by P810 million next year to accommodate the President’s increase travels and meetings. “The budget adjustment we seek also accommodates the logistical requirements of honouring invitations from foreign leaders to visit their countries as well as diplomatic initiatives which will yield job creating investments that will hasten our post-pandemic economic recovery,” Bersamin said. Portions of the increase will also be use for the rental requirements from the anticipated reconstruction of the Mabini Hall building. The OP’s budget for Personal services next year dropped by 18 percent to just P1.2 billion with the abolition positions under the now defunct Office of the Cabinet Secretary, Presidential A nt i- Cor r upt ion Commission and Office of the Presidential spokesperson. Senator Juan Edgardo “Sonny” M. Angara, who presided over the budget hearing of the OP, endorsed the proposed budget for plenary consideration in the Senate.

Senators press Executive on huge ‘JO’ numbers vis-a-vis unfilled positions By Butch Fernandez @butchfBM

ENATORS pressed Executive officials on Wednesday to resolve decisively the case of hundreds of thousands of government state workers on mere “JO” [Job Order] status, some for decades, a situation that has led them to call government the “biggest ENDO [end-of-contract] practitioner.” Tackling a looming headache for the government, Deputy Minority Leader Risa Hontiveros brought up the issue in her opening statement at the budget hearing for the Civil Service Commission (CSC), led by Chairperson Karlo Alexi Nograles and Commissioners Aileen Lizada and Ryan Acosta; as well as those of the Career Executive Service Board and the Anti-Red Tape Authority. In her opening remarks, Hontiveros cited reports that came from CSC itself “that there are 204,000 permanent positions in government, of which, more than 110,000 are in National Government agencies. Bakit po kaya walang maibigay na plantilla items kung saan may pangangailangan pero marami

HONTIVEROS

palang ahensiya ang may mga bakanteng [Why can’t plantilla positions be given to them where needed, and yet many agencies have unfilled positions]?” She added that the problem keeps worsening, with the “continued ballooning of Job Orders in government. I understand that DBM [Department of Budget and Management] and CSC have come up with a plan to address this so we hope to hear it.” The senator then recalled that just like the past year, they want to hear updates on the wish of the administration on pursuing plans called “rightsizing” in the bureaucracy as embodied in House Bill 7240. Hontiveros, however, acknowl-

edged that the move continuous to bring anxiety among affected government workers, even as she “credited Chairman Karlo for allaying apprehencsions of the affected workers.” And, she said, “because we are again here to examine the budget that CSC will receive for 2024, under the Finance Subcommittee H, the committee wishes to see whether the funding will allow CSC to continue fulfilling its mandate as the central personnel agency of government, while “promoting morale, efficiency, integrity, responsiveness, progressiveness, and courtesy in the civil service.” CSC Chairman Nograles defended the proposed 2024 budget of the agency during the Finance Subcommittee H hearing. CSC is seeking a P3.05-billion budget, but the Department of Budget and Management (DBM) approved P2.06 billion only. While the approved budget is lower than what the CSC is asking, Nograles said the amount is nevertheless higher than this year’s budget of P2.054 billion. The CSC budget, along with the budget of the CESB, were deemed submitted for plenary consideration.

BOI amends SIPP for Mass HousingContinued from A23 The MC released by BOI listed the requirements to be able to qualify for registration as Economic and LowCost Housing under the 2022 SIPP. Among the requirements is that the selling price of each housing unit shall not exceed P3 million and shall not fall below the price ceiling of socialized housing, based on the prevailing price ceiling issued by the Department of Human Settlements and Urban Development (DHSUD). To be able to qualify to register under such a housing category, the project must be located outside NCR and have a minimum of 100 “livable” dwelling units in a single site or building, per the MC. It is also required that the project must be a new or expanding economic/low-cost housing project. For residential condominium projects, at least 51 percent of the total gross floor area must be de-

voted to housing units to qualify for registration, the circular noted. BOI noted in the MC that the projects that have been completed (with DHSUD certificate of completion) and have incurred sales of any housing unit prior to the date of Contract to Sell shall not qualify for registration. Meanwhile, the MC also noted which ones may be considered as an expansion project. For one, if the construction of additional floors or annexes intended for housing units and if the project will locate adjacent or contiguous to an existing housing project owned by the same entity and shall share common facilities including access to the existing project. The BOI MC also noted that Economic Housing Projects with selling price not exceeding P2.5 million must build socialized housing units in an area equivalent to

at least 15 percent of the total registered project area or total BOIregistered project cost for subdivision housing and 15 percent of the total floor area of qualified saleable housing units for residential condominium projects. All qualified housing projects are only eligible for Income Tax Holiday (ITH) and duty exemption on capital equipment, raw materials, spare parts, or accessories; Provided, that a project that is eligible to five or six years of ITH shall submit proof of compliance of 300 trees or 500 trees, respectively, planted within the project location itself and/or within the community where the project will be located within one year prior to ITH availment. Provided, further, that at least 25 percent of the project’s construction materials are sourced from domestic manufacturers, the MC noted. Andrea E. San Juan

Thursday, October 12, 2023

A23

DTI: Energy, research projects top new deals with Aussie firms

By Andrea E. San Juan @andreasanjuan

RADE and Industry Secretary Alfredo E. Pascual said more business agreements have been signed with Australian firms particularly in the areas of energy and research.

During a business roundtable meeting on Monday, the country’s Trade chief welcomed potential investments and partnerships from Australian firms. The Department of Trade and Industry (DTI) said on Wednesday that Pascual witnessed the signing of two Letters of Intent (LOI) and a Memorandum of Understanding (MOU) on investments and collaboration on research and investments. The MOU signed is in relation to a potential equity and/or project investment by the National Development Company (NDC) with green energy company Cyclion Pty Ltd, to treat Municipal Solid Waste (MSW) and convert it to useful fuel or electricity. Under the LOIs signed, one agreement inked dealt with a research collaboration between Algae Harvest Pty Ltd, a 100-percent owned subsidiary of Murdoch University and Cyclion Pty Ltd.

The Trade department said this research collaboration aims to research new ways of using algae to turn waste into high-value products. Moreover, the agency said this research will be applied to Cyclion’s projects in the Philippines. Another LOI was signed by Southern Infrastructure Pty Ltd to develop a thorium-fueled reactor to deliver a safe, sustainable and green base load energy to contribute to the country’s renewable energy targets, DTI noted. At the same business roundtable meeting, the Trade chief encouraged Australian firms to seize the stronger economic cooperation between the Philippines and Australia. Pascual highlighted the Philippines’s growing economy and “conducive” business environment, making it a strategic location for investments with its young population, skilled workforce, and sizeable

consumer market. “Australia’s focus on Southeast Asia aligns with the Philippines’s robust macroeconomic fundamentals, improved governance, political stability, and commitment to a competitive, transparent, and enabling business environment. Australia and the Philippines naturally complement each other, and I encourage the private sector to seize these synergies,” Pascual said. The Trade chief also expressed the Philippines’s commitment to deepening collaboration across various areas of mutual interest such as agriculture, education, critical minerals, and clean energy. “Recently, we achieved a significant milestone by elevating our relationship from a comprehensive to a strategic partnership by signing the Joint Declaration. This shift not only broadens our strategic cooperation but also enhances trade and investment between our nations,” Pascual said. According to the Joint statement, in the area of trade and investment, both nations committed to deepen bilateral trade and investment by “eliminating unnecessary barriers and creating the best possible conditions for business to flourish and take advantage of meaningful market access opportunities.”

MEGA JOB FAIR San Juan City Mayor Francis M. Zamora leads the opening of the Mega Job Fair at the newly opened Lifestyle Annex, Greenhills Mall, in San Juan City, on Wednesday, October 11, 2023. A total of 62 companies from Greenhills Mall joined the job fair. Participating establishments include restaurants, retail stores, employment agencies, car accessories shops, jewelry stores, bookstores, banks, eyewear shops, and health and beauty clinics. The mega job fair will also be a one-stop shop for job seekers since partner agencies from the Department of Labor and Employment (DOLE), Social Security System (SSS), Bureau of Internal Revenue (BIR), PhilHealth, and PAGIBIG Fund will also have their booths to provide assistance. Story on page A8, Economy. NONOY LACZA

BOI amends SIPP for Mass Housing

HE Board of Investments (BOI) has issued amendments to the 2022 Strategic Investment Priority Plan (SIPP) in relation to Mass Housing. The investment promotion agency posted Memorandum Circular No.

2023-005 or the Amendments to the 2022 SIPP and its Specific Guidelines in relation to Mass Housing on its website on October 9, 2023. Mass Housing under the 2022 SIPP covers the development of mass housing units with a price ceiling of

P3 million, which also covers in-city low-cost dwelling for lease/rent. For the National Capital Region (NCR), only in-city low-cost dwelling for lease/rent may qualify for registration, the MC noted. Continued on A22

A24 Thursday, October 12, 2023

Editor: Jennifer A. Ng • www.businessmirror.com.ph

Rice market braces for more stress as El Niño starts to bite

l Niño has started to cause some concerns in Asia, and it’s a strained rice market that’s facing the first test from the weather phenomenon.

The market has already been upended by export restrictions from top shipper India and drier weather from El Niño threatens to cause more chaos. Any loss of production risks tightening global supply, and could prompt a renewed rally in prices which have cooled recently from the highest in almost 15 years. Across Asia, nations are warning of El Niño. Major importer Indonesia has flagged a marginal hit to output, while Vietnam has told farmers to plant their next crop earlier than usual to avoid water shortages. The Philippines is also giving aid to growers to cope with the weather as rice inflation soars. The weather worries rippling across the rice market are the first signs of real concerns about the im-

pact from El Niño. The cyclical climatic phenomenon can parch crops, strain power grids, impact fishing and cut off access to mines due to flooding across regions in Asia and Africa to South America. “Many crops, especially those highly dependent on water supply, will be badly affected by El Niño,” said Muhamad Shakirin Mispan, an associate professor at Universiti Malaya’s Institute of Biological Sciences. Lower output from key producers will “significantly impact global rice supply, affecting not only Southeast Asia but also reverberating across the world,” he added. The rice market has seen weeks of turmoil after India ramped up restrictions on its shipments in

late July. The move has worried governments from Asia to Africa, led to a flurry of supply deals and diplomacy, prompted warnings about hoarding, and fueled inflation in the Philippines and Indonesia. El Niño typically brings hotter and drier conditions across parts of Asia, and can lead to drought and wildfires. Indonesia plans to import more of the grain this year and next, and says its 2023 output may drop by 1.2 million tons. Unhusked rice production was expected at 54.5 million tons, slightly lower than 2022. Vietnam, the third-biggest rice exporter, asked growers in a section of the Mekong Delta that accounts for 26% of the region’s winter-spring crop to start planting from early this month, rather than November. The directive was given to avoid water shortages at the end of the harvest, in part due to El Niño.

El Niño is a naturally occurring phenomenon but it’s coinciding with more extreme and hotter weather due to the impact of increasing greenhouse gas emissions on the climate. The global average temperature in September broke the heat record after the warmest Northern Hemisphere summer ever. Australia expects El Niño to persist until at least the end of February, and ranchers are expected to prepare for the drier conditions by ramping up cow sales for slaughter. That’s weighed on the Eastern Young Cattle Indicator, a benchmark price, which recently tumbled to the lowest level in nine years. Some crops do benefit from El Niño, such as almonds and avocados in California that get higher rains, but many food staples from rice, cocoa, sugar, wheat and palm oil tend to face more challenging growing conditions. Bloomberg News

Thursday, October 12, 2023 A25

www.businessmirror.com.ph

Sales of street stalls, kiosks seen rising by 25% By Jasper Emmanuel Y. Arcalas @jearcalas

treet stalls and kiosks could increase their sales by a quarter to a 5-year high of $1.973 billion this year on the back of a higher demand for milk teas and fruit shakes due to resumption of face-toface classes, according to an international report. A Global Agricultural Information Network (Gain) report projected that sales of street stalls and kiosks this year would grow by 25 percent from last year’s $1.578 billion. With the expected growth this year, the industry’s gross sales would return to and even surpass prepandemic levels. The

industry posted sales of $1.926 billion in 2019, which fell to $1.027 billion in 2020 when the pandemic hit. “Street stalls and kiosks provide convenience and budget food to commuters in transportation hubs and malls,” according to the Gain report, which was prepared by the United States Department of Agriculture Foreign Agricultural Service (FAS) in Manila. “With the face-to-face resumption of classes and work, street stalls and kiosks selling potato fries, hot dogs, milk teas, and fruit shakes will contribute to sales growth.” Despite the projected record sales this year, the Gain report

Go reiterates need for govt to focus on food security

enator Christopher “Bong” Go, a member of the Senate Committee on Agriculture and Vice Chair of the Senate Committee on Finance, urged the Department of Agriculture (DA) to strengthen government support for agricultural workers to help ensure food security in the country while also expressing his support to the current efforts of the department as well as its proposed budget and programs for the next year. Go’s statement follows the result of a recent Pulse Asia survey, which identified assistance to farmers, increased pay for workers, and poverty reduction as urgent national issues. The senator said he believes that a well-funded DA can help bolster food security and improve the lives of agricultural workers. It is for this reason that Go extended his support for a substantial proposed budget for the agriculture department during the Senate Finance sub-committee hearing on Thursday, October 5, which was presided by Senator Cynthia Villar. “Dapat po ay masaya ang ating mga farmers, dapat po sa pagtitinda nila ng kanilang mga produkto ay dapat po (may) sapat na kita (sila). Alam mo kapag hindi masaya ang ating mga farmers, marami pong maaapektuhan, marami pong maghihirap. Government intervention (ang dapat palakasin),” said Go in an interview after his visit to Antipolo City on October 5. “Itulong n’yo po sa mahihirap nating kababayan. Ibigay n’yo po sa mga farmers, ibigay n’yo po sa mahihirap, sa mga poor and indigents na ating mga kababayan. Dapat po mapakinabangan nila ang pondo ng bayan. At wala pong masayang na pondo, wala pong ma-underutilized na hindi nagagamit. Gamitin n’yo po ang pondo, pera po ng tao ‘yan, pera ng gobyerno ‘yan. Ibalik n’yo po sa tao ang pera ng gobyerno sa pamamagitan ng maayos na serbisyo. Sa panahon ng krisis, dapat government intervention kaagad,” he urged. Recognizing their immense contributions to the country’s food production, Go stressed that the backbone of the country’s food supply is the dedicated agricultural workforce, and it is essential to provide them with adequate support and resources. Go was one of the authors of Republic Act No. 11901, which expanded the financing framework for agriculture, fisheries, and rural development. Additionally, the lawmaker was a co-sponsor and co-author in the Senate for the legislation that later became RA 11953, also known as the New Agrarian Emancipation Act. This law condones loans incurred by agrarian reform beneficiaries, including the associated interests, penalties, and surcharges. Moreover, Go introduced Senate Bill No. (SBN) 2117, which seeks to provide comprehensive crop insurance coverage for agrarian reform beneficiaries. He also proposed SBN 2118 to enhance insurance coverage and services for farmers, thereby helping to mitigate the impact of natural disasters on the agricultural sector should these bills become laws. “Nais kong hikayatin ang lahat ng mga lingkod-bayan na makiisa sa pagtulong sa ating mga magsasaka. Ang kanilang mahalagang papel sa ating pagkain at ekonomiya ay dimatatawaran. Suportahan natin sila sa pamamagitan ng pagpapalakas ng kanilang sektor at pagpapalaganap ng mga programa na tutugon sa kanilang mga pangangailangan. Sa pagkakaisa, makakamit natin ang mas maunlad at masaganang buhay para sa ating mga magsasaka,” said Go. “Sa lahat ng ito, ang importante ay sikapin nating walang magutom na Pilipino,” he appealed. Go also underscored the significance of enhancing competitiveness and protecting domestic farmers and industries following the recent approval of the Regional Comprehensive Economic Partnership (RCEP) agreement. Go said with increased competition as a result of RCEP, the cost of goods should decline, and the Filipino population, particularly those in vulnerable economic circumstances and the agricultural sector, should reap the rewards. Furthermore, Go supported initiatives aimed at

cautioned that year-on-year growth would be slower than the rate posted in 2022 due to more expensive raw materials. The street stalls and kiosks’ sales grew by 33 percent to $1.578 billion last year from the $1.185 billion recorded in 2021, according to the Gain report. “Due to the higher cost of raw materials and thrifty spending of consumers, a slower increase this year is expected.” Based on its computation, Angel’s Burger leads the street stalls and kiosks industry with about 1,300 stores last year and sales of about $134 million. It was followed by Tender Juicy Hot at $110 million (1,100 stores) and Turks with $93 million in sales and about 600

transforming unused government lands into agricultural zones to promote food production within the

stores nationwide, according to the Gain report. Wrapping up the top five in the industry were Infinitea with an estimated $88 million estimated sales and Zagu with $76 million, it added. The report noted that the annual sales estimates were based on the firm’s percentage share in the industry, which may differ from the firms’ reported annual sales. The Gain report also disclosed that local cafes and bars would continue to see growth for the fourth consecutive year since the pandemic but total sales would remain below prepandemic level. The report projected that total sales of cafes and bars in the country this year would rise

country. “Importante walang magutom na mga kababayan natin. Alam n’yo

by 20 percent to a 4-year high of $1.657 billion from $1.381 billion last year. “As more cafés and bars opened, café and bar sales reached 26-percent growth last year. FAS Manila foresees further café and bar sale growth in 2023, though far from the pre-pandemic level,” the report read. The Gain report said Starbucks remained as the leading café in the country with a 56-percent market share in 2022. It noted that more and more coffee shops are opening stores with drive-throughs as well as kiosks in malls to cater to the growing needs of local consumers.

importante po tiyan ng bawat Pilipino lalung-lalo na po ‘yung mga mahihirap po na kailangan munang makabangon

It added that other coffee shops are opening stores located in office buildings while some are establishing a presence in gas stations to cater to traveling customers and motorbike and bicycle riders. Based on the Gain report, Starbucks led the café industry last year with estimated sales of $775 million followed by Dunkin’ Donuts with $142 million. McCafe of Mcdonald’s Corp. had sales of $86 million last year while Mary Grace and Coffee Bean& Tea Leaf recorded $64 million and $62 million, respectively. The report’s sales estimates for the coffee shops were based on their respective market share in the industry.

kaagad ‘pag tinamaan sila ng sakuna tulad ng krisis, bagyo o pagbaha,” he ended.

Health&Fitness BusinessMirror

A26 Thursday, October 12, 2023

Climate change crisis to have a great impact on people’s health–expert By Rory Visco Contributor

limate change, no matter how the cliché goes, affects not only the environment but the planet. It also affects the health of humans because climate change affects vital elements that humans need in order to survive in this world such as clean air, safe, potable drinking water, enough food and secure shelter. T he World Hea lt h Orga ni zat ion (WHO) said that between the years 2030 and 2050, climate change is expected to “cause approximately 250,000 additional deaths per year, from malnutrition, malaria, diarrhea and heat stress,” while direct damage costs to health “is estimated to be between US$2 to 4 billion per year by 2030. The global health agency reported that developing countries, those with weak health infrastructures, “will be the least able to cope without assistance to prepare and respond.” The Intergovernmental Panel on Climate Change (IPCC) has revealed that in order to avert and prevent millions of climate change-related deaths, the global temperature should not exceed 1.5°C. Anything higher than this, even by an additional tenth of a degree of warming, would be damaging to people’s lives and health, according to the group. Case in point was the recent heavy rainfall and the ensuing floods that happened in Libya, which was hit by Storm “Daniel.” For a country where approximately 93 percent of the land surface receives less than 100 mm (around 4 inches) of rain per year, what happened in Derna should be a “wake up call for the world” on the increasing risk of catastrophic floods in a world changed by climate change, says Jagan Chapagain, Secretary General of the International Federation of Red Cross and Red Crescent Societies (IFRC). Scientists declared that even in a 1.2°C climate, which is already

“warm,” the rainfall Libya experienced was termed “extreme,” an event that may occur once every 300 to 600 years.

Climate crisis is a health crisis ACCORDING to Dr. Maria Guevara, the International Medical Secretary for Doctors Without Borders/Médecins Sans Frontières (MSF), the climate crisis is a health crisis that has disastrous health impacts, especially in Asia Pacific. Over the past several years, Dr. Guevara noted that the country has experienced the onslaught of very strong typhoons like Typhoon Yolanda (international name: Haiyan) which struck the country back in 2013. This super typhoon totally devastated the central part of the Philippines through extensive flooding that placed homes underwater, destroyed countless properties and killed human lives. However, she said it’s not just about cyclones and super typhoons. She revealed that July of this year was the Earth’s hottest temperature in 174 years. This resulted in many conflagrations such as those in Canada, then major countries in Europe such as France, Spain, Germany, Poland, and Italy experienced major heatwaves that they’ve never experienced before, same as in coastlines from Florida to Australia.

Impact felt now Being a medical humanitarian organization, Doctors Without Borders, according to Dr. Guevara, is already seeing the impact of climate change on the people they treat in over 70 countries around the world, like in Myanmar and Bangladesh, which Cyclone Mocha hit and destroyed not only communities but refugee camps as well. Over the years, she said, these extreme weather events are happening globally, with greater frequency, and stronger impact. However, Dr. Guevara said climate change also has other impacts on health. She said high levels of

DOH pushes for additional ₧400M budget for HPV vaccination drive By Rizal Raoul Reyes Contributor

ealth Undersecretary Maria Rosario Vergeire recently appealed for an additional P400 million funding to strengthen the Department of Health’s anti-cervical cancer immunization program and expand the vaccination coverage among 4th grade public school girls across the Philippines. Vergeire explained that the current DOH budget for the Human Papillomavirus (HPV) vaccination only covers 15 regions, which unfortunately excludes Region 2 and MIMAROPA. “Cervical cancer is the second most common cancer in Filipino women. To address this issue, we have implemented an HPV vaccination program for 4th graders, targeting students aged nine to 14 years old. Currently, this program is implemented in 15 regions, excluding Region II and Region IVB. We are seeking additional funding of more than $400 million to expand this initiative nationwide and provide the HPV vaccine to all 4th graders nationwide,” Vergeire said in a press statement. Cervical cancer ranks as the 2nd most frequent cancer among women in the Philippines and the 2nd most frequent cancer among women between 15 and 44 years of age. HPV is the leading cause of cervical cancer.

Prioritize cancer prevention During a recent Senate hearing, Sen. Joseph Victor Ejercito asked the DOH for updates on the agency’s anti-cervical cancer immunization program. As a health champion in the Senate notable for pushing landmark health laws like the Universal Health Care Act and the National Integrated Cancer Control Act (NICCA), Ejercito underscored the need for cancer prevention measures to be given priority. In 2023, the DOH acquired one mil-

lion doses of anti-cervical cancer vaccines, targeting 500,000 girls aged nine to 14. This accounts for nearly 38 percent of the school-age population nationwide. DOH’s appeal for additional budget from the Senate and Congress aims to secure sufficient funding to reach the agency’s targets for its vaccination program. However, the 2024 National Expenditure Program has allocated only 750,000 doses of HPV vaccines, falling short of the annual target of vaccinating one million of its target cohort. This budget cut could endanger the health of thousands of young girls who rely on governmentsupported HPV vaccination programs to protect against cervical cancer.

DepEd partnership DOH has been partnering with the Department of Education (DepEd) and local government units to improve the rollout of its HPV vaccination program. Meanwhile, Sen. Pia Cayetano, senior vice chair of the Senate Finance Committee, encouraged the DOH to continue strengthening its collaboration with DepEd to improve vaccination uptake in the country and strengthen cancer prevention campaigns in school settings. “Simple informational materials will be especially helpful for those who need a second dose of the vaccine,” said Cayetano. “If you [DOH] work with DepEd, they will be the ones to help educate the parents of these students.” The DepEd directs all schools that are implementing face-to-face classes to resume the delivery of school-based health services to learners, which includes immunization. Prior to administering the vaccine, parents’ consent must first be obtained by school officials. That is why vaccination education campaigns usually highlight the role of parents in fortifying the health shield of their children through timely vaccination against disease.

vector-borne, food-borne, and waterborne diseases in areas where they operate is worrying, as this is projected to increase as the climate crisis accelerates. Dr. Guevara pointed out that based on their estimates, there will be 15 million more cases of malaria yearly, with 30,000 deaths linked to that, aside from what is seen now. “One billion more people are expected to be exposed to dengue, not only in Asia Pacific, where it is much more prevalent, but across the world. European Union officials recently warned that there is a growing risk of mosquito-borne viral diseases such as dengue and chikungunya in Europe due to climate change. We have seen cholera outbreaks in at least 30 countries. While this is due to multiple factors, climate change is most definitely one of them,” Dr. Guevara explained. According to Dr. Guevara, climate change is also linked to food insecurity and malnutrition. “With extreme weather events such as heat waves and increased rainfall come droughts and floods that impact farming and fishing communities, affecting everything from the yield of crops grown, to the animals that till the soil, to the number of fish caught in nets,” she said.

Spread of diseases It does not end there, according to her, as other impacts of climate change include the spread of non-communicable diseases, forced displacement and migration, and the emergence of conflicts, among others. “And all of these are expected to intensify over time—unless we take urgent action,” she added. She said Doctors Without Borders can only do so much but much more is needed, especially in Asia Pacific to the Middle East, and the African nations. Countries with limited resources, Dr. Guevara averred, are enduring the worst of the devastation brought by the climate crisis, like Rohingya patients in Cox’s Bazar, Bangladesh, who are already burdened

and threatened by floodings and cyclones, while their patients in the island nation of Kiribati face climate and environmental changes that threaten their livelihoods and exacerbate their risks in contracting diseases. “We have been sounding the alarm. We see these huge needs brought about by the climate crisis, and we fear that these needs are outstripping our capacity to respond. We need the countries most responsible for this global warming of 1.2°C above pre-industrial levels to help those who are most affected, to take responsibility, and to provide financial and technical support to those most vulnerable. Governments of the most affected countries, including in Asia Pacific, must not only compel the top polluters to help them mitigate and manage the impacts of climate change, but also put in place policies and affirmative climate actions in addressing and reversing the impact of these issues,” Dr. Guevara declared. She noted, though, that they are already seeing commitments from world leaders, like the G20 nations who have committed to a greener and more climateresilient health system. The Association of Southeast Asian Nations (ASEAN), which has five of the world’s 20 most atrisk countries located in the region, has announced an ambitious strategy to work towards carbon neutrality. The COP28 agenda in November has an increased focus on health, relief and disaster response, Dr. Guevara declared. “This is an important and critically urgent moment. These commitments are ambitious, but member-states of these regional blocs must see them through and take real action. Today, we are dangerously off track and urgent action needs to be taken now. The climate crisis requires a whole-of-society approach. People and organizations must also understand that our own behaviors are a part of the problem. We need to respond together, in solidarity with all, for the health of all.”

Manulife launches customizable life and insurance plan Healthflex

Vaccines are safe, effective, essential for protecting children in the first 1,000 days of life–health experts By Candy P. Dalizon Contributor

s the country commemorates the fifth anniversary of the enactment of Republic Act 11146, also known as the First 1,000 Days Law, this November, health experts are emphasizing the importance of vaccinating children in the first 1,000 days of life to provide them with the best possible protection against preventable diseases during this crucial stage of their development. Childhood vaccination is the most cost-effective way to prevent vaccine-preventable diseases. It is important to vaccinate children on time throughout childhood because this helps to protect them from serious diseases before they are exposed to them. Vaccines are tested to make sure that they are safe and effective for children at the recommended ages. Dr. Vicente Belizario, former dean and active professor at the University of the Philippines College of Public Health, has observed that while the Philippine government has an immunization strategy in place, there is a need to enhance the implementation of public vaccination programs. Belizario is a staunch advocate for public health in the academe and his medical expertise is in tropical medicine and public health. He is a key resource for technical working groups of the United Nations Children’s Fund (UNICEF) and the World Health Organization (WHO). “Five years since RA 11146 was signed, vaccine uptake in the first 1,000 days remains low even though policies are in place and vaccines are available. Even before the pandemic, chronic financial and societal factors have contributed to infants missing their vaccination schedules. For instance, there are parents who are unable to follow through on immunization schedules because of livelihood or because they live in far-flung areas,” explained Belizario.

Low vaccine coverage

leading insurance company recently introduced HealthFlex, an affordable life and health insurance plan that can be customized based on the customers’ needs and budget. Rahul Hora, President and CEO of Manulife Philippines, revealed the plan covers up to 112 critical illnesses and provides guaranteed coverage until age 100. He noted Filipinos have the option to boost their coverage through add-ons that would give them advanced benefits if they had early disease detection, were diagnosed with second occurrences of cancer, heart attack and stroke, or had a specific cancer that is common among males or females. Moreover, he said policy holders will have an option to receive a monthly allowance if they get diagnosed with an advanced critical illness and coverage for child-specific illnesses. In addition, in case a policyholder is diagnosed with the covered illnesses, premiums are automatically waived so customers can focus on recovery without worrying about future payments. “Aside from its health risks to themselves, Filipinos also fear cancer’s financial risks to their families. Because many often just have enough to get by, they worry that spending for medicines and treatments would take resources away from their loved ones’ basic needs,” Hora said. “We designed Manulife HealthFlex to help Filipinos have a sense of security and ease their financial worries in case they get sick. It also helps protect their savings so they can focus on recovery, while financially securing their future and

that of their family,” he added.

Losses due to cancer According to a study by the Philippine Institute for Development Studies (PIDS), Filipinos lose up to P35 billion annually due to cancer, with P29.2 billion coming from direct healthcare expenses such as charges for treatments, hospitalization, laboratory procedures, and medicines. With the high medical treatment costs, Filipinos are exposed to a greater risk of premature death compared to their Asian neighbors. In fact, treating cancer ranges from P120,000 to P1 million, with chemotherapy ranging from P20,000 to P120,000 per session depending on the cancer type. Moreover, a study published in Acta Medica Philippina, a peer-reviewed general medical and health science journal published by the University of the Philippines (UP), indicated that 40.6 percent of cancer patients’ families experienced financial toxicity, or financial problems, due to the high cost of medical care. Cancer-based healthcare costs are also the main reasons why Filipinos fear cancer the most, according to the recent Manulife Asia Care Survey. It is exacerbated by threats of rising inflation, with Filipino respondents ranking it as their top financial concern among surveyed markets in Asia. Another Manulife study, “Understanding Filipino Sentiments Toward Health and Critical Illness,” revealed that 80 percent of Filipinos surveyed cannot afford the high cost of treatment if they or their family members get diagnosed. Rizal Raoul S. Reyes

Editor: Anne Ruth Dela Cruz

Aside from work schedules and distance to the health facility, Belizario cited other possible reasons for low vaccine coverage such as adverse weather on appointment day, being young mothers, economically deprived households and the high number of children in the family. Supply and cold chain issues on the part of the government and disruptions in service delivery during the Covid-19 pandemic contributed to low vaccine coverage. “Because of the pandemic, many infants missed their scheduled vaccinations either due to the physical lockdowns, fears of acquiring Covid-19, or socioeconomic constraints. Incomplete vaccination makes them vulnerable to complications brought about by diseases that may even lead to death,” said Dr. Fatima Gimenez, Immunization Committee Chair of the Philippine Pediatric Society (PPS) and President of the Pediatric Infectious Disease Society of the Philippines (PIDSIP). Gimenez and Belizario were the guest speakers during the recent media roundtable discussion on Immunization in the First 1,000 Days of Life held last week in Makati City. “Now that the Covid-19 health emergency has been lifted, all the more that we should intensify immunization in the first 1,000 days for all newborns to be protected from communicable VPDs as the world goes back to pre-pandemic normal, and for those who missed their vaccinations to catch up on immunizations,” says Dr. Gimenez. According to PPS’s 2022 Childhood Immunization Schedule, 14 out

of the 15 recommended childhood immunizations should be administered within the first 1,000 days of life 2. Recommended vaccinations that should not be missed during this period are: Bacilli Calmette-Guerin (BCG), Hepatitis B, Diphtheria, Tetanus, Pertussis, Polio, Haemophilus influenzae type B (DTaP-IPV-Hib), Rotavirus, Pneumococcal, Mumps, Measles, and Rubella (MMR), Influenza, Japanese Encephalitis, Hepatitis A, and Varicella. HPV is recommended for vaccination at age nine. Belizario shared that fully immunized children (FIC), defined as “children who have completed one dose of BCG, three doses of pentavalent vaccine, three doses of OPV, and two doses of MMR on or before one year of age, declined from 70 percent in 2015 to 61.5 percent in 2020. The target is 95 percent immunization coverage. Early this year, UNICEF disclosed that The Philippines has one million zero dose children, the second highest in East Asia and the Pacific Region, and the fifth highest globally.”

What we can do together Belizario said that our National Immunization Program (NIP) is at par with those of other countries as it is well-guided by UNICEF. He pointed out that while the national government sets overall vaccination policies and provides vaccines, local government units should develop and implement strategies to ensure that these life-saving vaccines are given to infants on time. These strategies should address the specific challenges that parents face in their area in getting their children vaccinated. For her part, Gimenez said parents should take advantage of the government’s free vaccination program to protect their children and families from preventable diseases. “Special focus should be given to localizing vaccination messaging for grassroots as educating these communities helps build trust in healthcare systems, leading to higher vaccine acceptance and better disease prevention, and bridging healthcare disparities by ensuring that underserved populations have access to crucial information and vaccinations,” said Gimenez. Belizario enumerated the next steps that should be taken with the support of the private sector, the public, including the media, to increase vaccination rates in the country, especially for children under the age of two. “Capacity building of healthcare workers on health communication, educating parents on safety of vaccines, avoiding vaccine misinformation, promoting healthy hand hygiene, promoting good nutrition and healthy environment, vaccinating children following the vaccination schedule, and immediate consultation with primary health providers, avoiding self-medication,” he said. Gimenez and Belizario both agreed that what should be properly communicated to the public, especially to mothers or parents, is the vaccine’s safety and effectiveness. “Takot sa bakuna is something we have to deal with. Remember that these vaccines, whatever is given away by the Department of Health through the local government units have undergone so much rigor in terms of assessment. The rigor assures us that whatever it is that the DOH is giving away is safe, first and foremost. Number two, effectiveness. Effectiveness is measured by way of preventing illness, preventing severe illness, and ultimately preventing death,” said Belizario. “Therefore If you love the children pabakunahan po natin ang mga bata.”

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Finance Dept, South Korea promote EODB in forum

HE Finance Department and the South Korean Embassy recently explored avenues to allay difficulties for foreigners in conducting businesses in the Philippines. The Department of Finance (DOF) and the Embassy of the Republic of Korea (South Korea) conducted the “1st KOR-PH Ease of Doing Business (EODB) Forum” at the former’s headquarters on October 6. The forum tackled various elements such as taxation, customs clearance, and licensing to make the country “the best destination [for] foreign investments,” according to a statement from the embassy. Said event was co-chaired by Ambassador Lee Sang-hwa and Finance Secretary Benjamin Diokno. It also welcomed representatives from Korean firms: the Industrial Bank of Korea, Hyundai E&C, Samsung Electro-Mechanics Phils., SFA Semicon Phils. Corp. (SSPC), and Pepsi-Cola Products Phils. Inc., as well as national government officials.

As the geopolitical and economic center of gravity continues to shift to the Indo-Pacific Region, with the Korea-Philippines free-trade agreement or FTA having just signed, the forum was very timely for Lee, as he remarked in his keynote. Meanwhile, Diokno cited the country’s economic liberalization efforts: “In recent years, we…pursued game-changing measures to promote the participation of international players in the Philippines’s economic transformation journey.” He detailed the amendments to the “Retail Trade Liberalization Act,” “Foreign Investments Act,” and “Public Service Act,” all of which aim to attract more foreign direct investments into the Philippines. The government has also opened up the country’s renewable energy sector to full foreign ownership. “We are also working aggres-

SECRETARY Benjamin Diokno and Ambassador Lee Sang-hwa DEPARTMENT OF FINANCE

sively toward easing regulatory burdens and enhancing transparency to create a more attractive business environment for both local and foreign investors,” the DOF chief confirmed.

During the forum, SSPC also presented a token of gratitude to the Anti-Red Tape Authority for assisting in the mediation and eventual resolution of the former’s licenserelated issues.

PHL Embassy in Jordan, MWO fly 1st batch of nonmarital children

HROUGH countless efforts of the Philippine Embassy in Jordan, a total of 13 nonmarital children were successfully repatriated on October 6—the first batch of 60 scheduled this year. After almost a decade of continued discussions and appeals to the Jordanian government, the embassy successfully secured an exceptional concession on August 10, 2023, which paved the way for the repatriation of nonmarital children and the waiving of their overstay penalties. Nonmarital children are deemed as illegitimate in Jordan, and under the Arab nation’s law, they cannot obtain a birth certificate if their parents are not married. They were previously barred from being repatriated to the Philippines without the said document—a requirement to fly outside the Middle Eastern country. “This repatriation is a testament of the willingness of our two countries to resolve matters that affect [our Filipino nationals’] interests in Jordan,” said Ambassador Wilfredo C. Santos in a statement. “We have

AMBASSADOR Wilfredo C. Santos (second from right) hands out gift packs to children before their repatriation, with third secretaries and vice consuls Angeli A. Payumo and Sheila Marie G. Andales (first and second from left), and administrative officer John Danilo G. Jiao Jr. (rightmost).

proven that, in [close coordination] with our host-government, we can get the job done. Now, our nonmarital Filipino children accompanied by their parents can safely return to the Philippines.” The envoy also extended the embassy’s appreciation to the govern-

ment of the Hashemite Kingdom of Jordan for its support to the humanitarian undertaking—including working closely with the Philippine Embassy in Amman for the effort’s requirements, “which took time and a lot of representations by both sides.”

Santos also commended the Philippine Embassy’s “Assistance to Nationals” or ATN team for their hard work, dedication and commitment in working out the repatriation. The deputation facilitated the issuance of Philippine civil registration documents and travel documents. The repatriation efforts were also made possible by the Migrant Workers Office (MWO), which bore the costs of flight tickets, bus transports, and temporary accommodation in the shelter a day before their departure. Those who joined Santos at the MWO prior to the send-off were third secretaries and vice consuls Angeli A. Payumo and Sheila Marie G. Andales, Section Head Francisco Magno of the ATN, Ma. Jolina Guerrero, Issa Mofleh, Administrative Officer John Danilo Jiao Jr., as well as MWO officers headed by Labor Attaché Armi Evangel N. Peña, Assistant Labor Attaché Jaybee John Vincent Baginda, and Welfare Officer Angel Cruz.

Creativity through Lego marks 77 years of Denmark-PHL ties

ENMARK and the Philippines marked 77 years of strong diplomatic cooperation on September 28 by emphasizing their shared passions for design and creativity. To honor this milestone, the Royal Danish Embassy Manila staged two projects that capture the fusion of Filipino creativity and uniqueness of Danish design, which reflected the richness of the countries’ longstanding relationship. One of the most symbolic representations of this mutual appreciation for creativity is the iconic Lego: a Danish brand that has found its way into the hearts of many Filipino families, collectors, builder communities, and creative enthusiasts. Talented Filipinos who drive design processes for various Lego sets that land on toy store shelves worldwide work in its headquarters in Denmark. Venturing into the core of the

Philippines’s historical richness, Ambassador Franz-Michael Mellbin of Denmark and Ambassador Leo Herrera-Lim explored the Philippines in bricks at the “iMake History Fortress Lego Education Center.” The center, nestled in historic Fort Santiago, is a project by the Royal Danish Embassy-Manila, the Intramuros Administration, and Felta Multimedia Inc. It serves as an exhibition of Philippine historical and cultural landmarks built in Lego bricks. It also conducts workshops to train the youth in architecture, design, engineering, and creativity using Lego Education modules. Guided by the shared vision of fostering strong connections, the ambassadors, along with Intramuros administrator Joan Padilla, Felta brand activation officer Jed AbivaSazon, Mme. Eva Fischer-Mellbin and Mme. Fides Herrera-Lim led the building of a symbolic bridge using Lego bricks as a symbol of the two

AMBASSADOR Franz-Michael Mellbin with the “Lego-fied” artworks

countries’ strong connection spanning more than seven decades. Filipino art ‘Lego-fied’ FROM architectural wonders, Lego bricks were creatively used as building blocks for classic masterpieces of Filipino maestro Fernando Amorsolo. “Project AMORsolo,” which is a mosaic exhibition by Pinoy Lego Users Group (PinoyLUG), paid homage to Amorsolo’s enduring legacy. The exhibit replicated the first Filipino

national artist’s iconic paintings “Bayanihan,” “Dalagang Bukid,” and “Early Traders” using the world-famous bricks. To support PinoyLUG and Amorsolo’s masterpieces, the embassy hosted this month a Project AMORsolo installation. There, PinoyLUG also unveiled a LEGO brick mosaic based on the iconic Danish artwork “Anna Ancher and Marie Krøyer on the beach at Skagen” by Michael Ancher, specially designed for the celebration.

Thursday, October 12, 2023

A27

Powering-up the Philippines’s clean energy transition: Sharing Australia’s experience BUSINESS ENVOY HK Yu, PSN

T home and abroad, Australia is taking rapid action to advance the transition to clean energy, with ambitions to become a renewable energy superpower. My country’s recently released Southeast Asia Economic Strategy to 2040 sets out a blueprint to increase two-way trade and investments with the region, and will guide our economic engagement with the Philippines in the coming years. The central plank of such is our commitment to working with Southeast Asia in our shared journey to cleaner energy, to build a resilient, clean energy sector, as well as contribute to increased energy security, access, and affordability for all. For our countries, similarities exist between our energy sectors, including plentiful renewable energy resources and deregulated markets. Both governments and the private sector play important roles in the clean-energy transition. And with the Philippines aiming for renewable energy to generate 50 percent of electricity by 2040, we have a shared interest in building our trade and investment and partnering with the private sector to make our economies greener. Technologies such as offshore wind and green hydrogen— which Australia is making headways on—will be important parts of this effort for both our countries. Given these similarities, our “Partnerships for Infrastructure” initiative recently supported two Philippine delegations that visited my country to learn about our experience in green hydrogen and offshore wind. Australia knows that offshore wind and hydrogen are two of many clean energy technologies. That’s why we are also harnessing other renewable energy solutions at home. I am proud to say that we are installing solar and wind capacities faster per capita than any other country in the world! We are well on the way to achieving our own national target of net-zero emissions by 2050, and 82 percent renewables by 2030. And, to make sure it is economic to store clean energy for when it is needed, we are investing in batteries, pumped hydro and hydrogen. Institutions such as Commonwealth Scientific and Industrial Research Organisation, which a Filipino

delegation met with in August to discuss hydrogen issues, are leading research on low-cost energy and storage technologies. And our Clean Energy Finance Corp.—the world’s largest green bank—is showing ways to mobilize the investment needed to achieve a clean and affordable energy transition. As Australia’s ambassador to the Philippines, I am committed to harnessing this expertise and technology, as well as our dynamic and forwardthinking private sector, to support this country as it increases the share of renewable energy in its energy mix, and looks to drive down energy prices. Through practical measures in the Southeast Asia Economic Strategy to 2040, Australia is working to increase two-way trade and investment with the Philippines in the renewable energy sector, and there are already promising signs that this is an area of growth between our two countries. Australian company Macquarie, through Blueleaf Energy, is investing $1.2 billion in a floating solar power plant in Laguna Lake. The project is well underway, and local partners have already launched an on-site floating solar test bed which will provide data to inform project development. Looking the other way, the Ayala Group, through ACEN Australia, is developing our largest hybrid solar and battery-energy storage facility: the New England Solar Farm. In my hometown of Western Australia, ACEN has partnered with traditional owners: the Yindjibarndi Aboriginal Corp., to develop one of our largest indigenousled renewable energy initiatives— promising sustainable development and economic opportunities for the Yindjibarndi people. These are both great examples of our growing economic partnership, delivering benefits for Filipino and Australian communities! As newly established strategic partners, I am ambitious for what Australia and the Philippines can achieve together. I am looking forward to us working together to harness renewable energy sources; strengthen our economic ties; and build resilient clean-energy sectors that power our homes, businesses, hospitals, and schools. (HK Yu PSM is the ambassador of Australia to the Philippines. Follow her on X: @AusEmbPh.)

Japan, Asean ICT stalwarts bolster regional cyber security

APAN has increased the level of its coordination with the Philippines and other Asean member-countries in addressing rising regional cyber threats and helping build their cyber security networks. Local information and communications technology (ICT) organizations Philippine Computer Emergency Response Team (PH-CERT) and the National Association of Data Protection Officers of the Philippines, with the NPO Japan Network Security Association (JNSA) and the Indonesia Network Security Association (IdNSA) has launched “CyberSecConPh” to facilitate the networking and knowledge-sharing among individuals and organizations in the field of information and cyber security, especially cross-sector linkages of public and private entities. Moreover, CyberSecConPH aims to enhance and sustain an information and cyber security community in the Philippines and establish connections with similar partnerships in the Philippines and the rest of Asia. “Creating an Asia-wide cyber security community of practice and cooperation is one of the best ways for us to fight cybercrimes,” said NPO JNSA’s International Relations Committee chairperson Seiichi Ito. “We are grateful that the Philippines responded positively to the Japan-Asean Cyber security Community initiative, and we look forward to engaging and sharing best practices with our fellow practitioners….” Ito also insisted that governments in Asean must make serious efforts to reduce their huge infrastructure gap in ICT:

“A government-to-government partnership would be very [vital], because this can protect critical infrastructure.” IdNSA founder and advisor Dr. Rudi Lumanto pointed out that Jakarta and Manila share a lot of common characteristics in information security and cyber security challenges. “Our countries share a lot of history in Asean and have participated in bilateral projects in technology. We believe that our countries’ information security and cyber security professionals will bring a lot of value and experience to the Japan-Asean Cyber security Community.” For PH-CERT president Lito Averia, putting up a united front among the different stakeholders will be formidable in fighting cyber concerns: “Stronger partnerships of individuals and communities that cooperate and fight against cyber threats [are] the best way to protect citizens and countries.” Averia said the Philippines will join its Asean and Japanese peers in a Tokyo forum that will let them see a bigger picture of the region’s cyber security future. Samuel R. V. Jacoba, who is CyberSecConPH’s chair, said: “It is about time…a multicountry approach spearheaded by Communities of Practice will join hands to fight…cyber criminals. Along with similar initiatives from government institutions and other private-sector organizations, our Communities of Practice will work with them proactively to train current and future information security and cyber security professionals to enable them to [go] head-to-head against online threats.” Rizal Raoul S. Reyes

A28 Thursday, October 12, 2023 • Editor: Angel R. Calso

Opinion BusinessMirror

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A strong message against corruption

very year, over $1 trillion is paid in bribes around the world, enriching the corrupt and robbing generations of a future, according to the United Nations. The good news is that, as daunting as the task might seem, corruption can be stopped. The United Nations Convention Against Corruption provides a global legal framework to do so. This international instrument, which entered into force on December 14, 2005, has been ratified by 37 countries and signed by 137. The Philippines ratified UNCAC in 2006. “Corruption is an insidious plague that has a wide range of corrosive effects on societies. It undermines democracy and the rule of law, leads to violations of human rights, distorts markets, erodes the quality of life and allows organized crime, terrorism and other threats to human security to flourish. This evil phenomenon is found in all countries—big and small, rich and poor—but it is in the developing world that its effects are most destructive,” former UN SecretaryGeneral Kofi Annan said in a foreword to the UNCAC. Transparency International is a global movement working in over 100 countries to end the injustice of corruption. It said not all governments operate with the best interests of their citizens as the top priority. People in power can have a hard time resisting the temptation to use that power for their own gain, and many public servants in many countries have been caught up in political scandals and corruption. In some countries, histories of deeply entrenched corruption have spurred political unrest between the governments and their citizens. In an effort to shine a light on corruption and initiate changes for the better, the organization Transparency.org has created in 1995 the Corruption Perceptions Index, which uses expert assessments and surveys to rank countries based upon their perceived levels of corruption. The CPI defines corruption as “the misuse of public power for private benefit.” The Philippines ranked 116th in Transparency International’s Corruption Perception Index for 2022, which assessed the perceived levels of public sector corruption in 180 countries. The country’s latest CPI score was 33, unchanged from the previous year and its lowest score in the index. Transparency International defined the scale as zero meaning “highly corrupt” and 100 as “very clean.” Daniel Eriksson, Transparency International chief executive officer, urged governments to open up space and include activists, business owners, marginalized communities, and the youth in decision-making. “In democratic societies, the people can raise their voices to help root out corruption and demand a safer world for us all,” he said. When he won the presidency by a landslide, President Marcos said his administration will not tolerate any form of corruption in government. “Now that I am the one in command, there should be no more corrupt practices. We will run after the corrupt officials,” he said. On Monday, following revelations of the alleged multimillion-peso corruption at the Land Transportation Franchising and Regulatory Board, President Marcos ordered the suspension of LTFRB Chairman Teofilo Guadiz III. “The President does not tolerate any misconduct in his administration and has instructed the immediate investigation of this matter. He strongly condemns dishonesty and duplicity in public service,” the Presidential Communication Office said in a statement. (Read the BusinessMirror report, “Marcos suspends LTFRB chief on corruption report,” October 10, 2023). We commend the President for his firm action, which should help restore people’s confidence in good governance and improve the country’s global corruption profile. Containing corruption in government cannot be done if agency heads are corrupt. But the action should not stop there. Guadiz should be prosecuted to the fullest extent of the law. Now that Marcos has sent a strong message that he himself is against corruption in government, it would do well for the administration to view the evil of corruption not just as an issue of individual moral failing, but as a systemic one in which many of our government agencies are ripe for wholesale scrutiny. There’s wisdom in the proposal of the CEO of Transparency International who urged governments to open up space and include activists, business owners, marginalized communities, and the youth in our campaign against corruption. “In democratic societies, the people can raise their voices to help root out corruption,” he said. “Without strong watchdog institutions, impunity becomes the very foundation upon which systems of corruption are built. And if impunity is not demolished, all efforts to bring an end to corruption are in vain,” said Nobel Prize laureate Rigoberta Menchú.

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Tokyo reflections Thomas M. Orbos

STREET TALK

always look forward to overseas trips, whether it is for a vacation or for official business. I would definitely prefer travelling with my family but there are times you need to travel on your own. On such trips there are many things to learn, and take in and hope to bring back home. I am currently in Tokyo for business purposes and despite several trips to Japan in the past, I still can’t help but be amazed by this country. It is not just their technological advancement that one takes immediate notice when you are here, but more important is the mindset and character of the Japanese that I find worth reflecting on. There are many outstanding characteristics the Japanese people have, but allow me to focus on just these for now: Their pursuit of general cleanliness in their environment, their adherence to maintaining order, and their general politeness and respect to one another. Pure, simple cleanliness in this country is evident everywhere. From the airport to the vehicles you ride,

the highways you pass through and the streets in the downtown area, cleanliness is very much noticeable. And it is not the immaculateness of it but rather the realization that such effort to clean is sustained and not forced. Our Filipino-Japanese companion pointed out that this is part of the Japanese culture and history, ingrained in them that begins in their childhood and practiced in their homes, their schools and at work. Children are expected to do house chores, young students are expected to clean up after lunch, and even at work, employees clean up after their day is done whether

it be at the office or outside. I once witnessed the famed “in-between trips train cleanups” by a team made up mostly of the elderly, who finished the whole process in less than 10 minutes. Such a spectacle, seeing how fast, coordinated and yet detailed the way the whole process was done. But one thing that an outsider would realize, given this “clean” mindset of the Japanese, is that trashcans are hard to find along the streets. Apparently, the Japanese bring home with them whatever garbage they have. And it goes without saying that recycling and segregation is a given in this country. Recycling is everywhere. Everyday items you find in restaurants and shops are made from recycled materials. Garbage collection itself is segregated; meaning collection days are based on the kind of materials to be collected, rather than at the same time for all kinds of solid waste, like how it is done in our country. Related to cleanliness is their adherence to a sense of order. Here in Japan, taxis do not stop just anywhere. People wait quietly for the pedestrian light to turn green for them to cross. Commuters line up just as they line up for their turn to dine in the many small coffee shops in the city. Bus

and train schedules always arrive and depart on time. Which leads me to the third Japanese character that I would like to highlight, and that is the general respect and politeness to one another. This may be symbolized by the simple gesture of bowing their heads to a guest, but in general, Japanese people are respectful and polite to each other. And their pursuit of cleanliness of their environment, and their adherence to a sense of order, I would like to believe is connected to their character of respect and politeness to one another. Cities are made up of people, not buildings or any infrastructure. We may very well learn from the Japanese and with their cities like Tokyo. Just like Manila, I am sure Tokyo has more or less the same problems we have—the traffic, garbage and pollution, among others. And definitely we can very much improve ourselves, and our state of lives in our cities, just like them. All we need is the similar attitude and the mindset: pursuit of cleanliness, general adherence to a sense of order, and a natural respect and politeness to one another. The author may be reached at thomas_orbos@ sloan.mit.edu

IMF outlook worsens for a ‘limping’ world economy. Mideast war poses new uncertainty

By Paul Wiseman & David Mchugh | AP Business Writers

he world economy has lost momentum from the impact of higher interest rates, the invasion of Ukraine and widening geopolitical rifts, and it now faces new uncertainty from the war between Israel and Hamas militants, the International Monetary Fund warned Tuesday. The IMF said it expects global economic growth to slow to 2.9 percent in 2024 from an expected 3 percent this year. The forecast for next year is down a notch from the 3 percent it predicted back in July. The deceleration comes at a time when the world has yet to fully mend from a devastating but short-lived Covid-19 recession in 2020 and now could see fallout from the Middle East conflict—particularly to oil prices. A series of previous shocks, including the pandemic and Russia’s war in Ukraine, has slashed worldwide economic output by about $3.7 trillion over the past three years compared with pre-Covid trends. “The global economy is limping along, not sprinting,” IMF chief economist Pierre-Olivier Gourinchas said at a news conference during the organization’s annual meeting in Marrakech, Morocco. The IMF expectation of 3 percent

growth this year is down from 3.5% in 2022 but unchanged from its July projections. It’s “too early” to assess the impact on global economic growth from the days-old war between Israel and the militant Palestinian group Hamas in Gaza, Gourinchas said. He said the IMF was “monitoring the situation closely” and noted that oil prices have risen by about 4 percent in the past several days. “We’ve seen that in previous crises and previous conflicts. And of course, this reflects the potential risk that there could be disruption either in production or transport of oil in the region,” he said. If sustained, a 10 percent increase in oil prices would reduce global economic growth by 0.15 percent and increase global inflation by 0.4 percent, Gourinchas said. “But again, I emphasize that it’s really too early to jump to any conclusion here,” he added.

The IMF said it expects global economic growth to slow to 2.9 percent in 2024 from an expected 3 percent this year. The forecast for next year is down a notch from the 3 percent it predicted back in July.

So far, the increase in oil prices has been “fairly muted,” said Commerzbank commodities analyst Carsten Fritsch. He noted the absence of declarations of support for Hamas from key oil producers Saudi Arabia, the United Arab Emirates, Kuwait and Iraq, which would make it unlikely that they would restrict supply in response to the war. So far, the world economy has displayed “remarkable resiliency,” Gourinchas said, at a time when the US Federal Reserve and other central banks worldwide have aggressively raised interest rates to combat a resurgence in inflation. The hikes have helped ease price pressures without putting many people out of work. That combination, he said, is “increasingly consistent” with a so-called soft landing—the idea that inflation can be contained without causing a recession. The IMF sees global consumer

price inflation dropping from 8.7 percent in 2022 to 6.9 percent this year and 5.8 percent in 2024. The United States is a standout in the IMF’s latest World Economic Outlook, which was completed before the outbreak of war between Israel and Hamas. The IMF upgraded its forecast for US growth this year to 2.1 percent (matching 2022) and 1.5 percent in 2024 (up sharply from the 1 percent it had predicted in July). The US, an energy exporter, has not been hurt as much as countries in Europe and elsewhere by higher oil prices, which shot up after Russia invaded Ukraine last year and jumped more recently because of Saudi Arabia’s production cuts. And American consumers have been more willing than most to spend the savings they accumulated during the pandemic. Things are gloomier in the 20 countries that share the euro currency and are more exposed to rising energy prices. The IMF downgraded eurozone growth to 0.7 percent this year and 1.2 percent in 2024. It actually expects the German economy to shrink by 0.5 percent this year before recovering to 0.9 percent growth next year. That’s below even Russia’s econSee “IMF” A29

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Opinion BusinessMirror

Thursday, October 12, 2023 A29

Few good options as Trump jurors need extra protection in 2020 Israel weighs a ground election obstruction case, prosecutors say assault on the Gaza Strip By Zoe Tillman

By Peter Martin, Katrina Manson & Henry Meyer

sraeli troops are massing for what’s widely seen as all but inevitable: a ground invasion of Gaza. The public and the national security establishment in Israel are demanding retribution for the attacks by Hamas militants that claimed more than 1,000 Israeli lives over the weekend. But a ground invasion would be complicated by Gaza’s dense population, its complex underground network of tunnels and the danger it would pose to Israelis, Americans and others being held hostage.

“The problem is that it’s basically house-to-house fighting once you get into Gaza. And so it could be a heavy price,” former US Defense Secretary and CIA Director Leon Panetta said Tuesday on Bloomberg Television’s “Balance of Power.” “But on the other hand, I think it’s very clear that Israel has made the decision that they have got to crush Hamas in Gaza.” An invasion would bring heavy casualties on both sides and questions about whether Israel can devise an exit strategy for the conflict. It would also create ripple effects through the Middle East, endangering Israel’s fragile rapprochement with its Arab neighbors and increasing the risks that the conflict spirals into a broader regional war. What follows an invasion, a US official said, may resemble the 2004 battle for Fallujah in Iraq, which involved bloody street-to-street fighting. Resistance in Gaza may be formidable, especially if neighboring countries provide reinforcements, according to the official, who discussed the sensitive matter on condition of anonymity. Israel hasn’t announced that it will send troops into Gaza, but Prime Minister Benjamin Netanyahu has promised that “what we will do to our enemies in the coming days will reverberate with them for generations.” Developments on the ground also suggest Israel is planning something big. It’s bombarding Gaza from the air, land and sea. Its military is building a base next to the Gaza Strip to accommodate tens of thousands of soldiers as columns of Israeli tanks move toward the region. The country has already mobilized 300,000 reservists—the most in its history. “Israel is going to respond very severely and aggressively and there will be more loss of life,” Richard Hecht, a spokesman for the Israeli military, told journalists Tuesday.

Underground stockpiles

Part of the growing conviction that Israel will launch a ground invasion rests on the limitations of aerial warfare in Gaza. Airstrikes are unlikely to succeed in clearing out the tunnels, underground weapons stockpiles and smuggling routes that made Saturday’s attack possible. “At some point they’re going to have to go in,” said Keith Alexander, a retired four-star US Army general who was director of the National Security Agency. “They can do limited operations,” he said, “but that’s a fairly big area to occupy and a lot of people to cover.” Street-to-street fighting in Gaza, where two million residents are packed into an area just over twice

IMF . . .

continued from A28

omy, which the IMF predicts will expand 2.2 percent this year before dropping to 1.1 percent growth next year. The Chinese economy, the world’s second biggest, is forecast to grow 5% this year and 4.2 percent in 2024— both downgrades from what the IMF expected in July. China’s economy was expected to bounce back this year after the communist government ended draconian “zero-Covid” lockdowns that had crippled growth in 2022. But the country is struggling with troubles in its overbuilt housing market.

“After the Israeli population understood what it means to live next to Hamas, they are ready to pay almost any price in order to stop living next to Hamas.” the size of Washington, DC, would likely result in heavy civilian casualties. Arab officials fear images of dead civilians could prompt a backlash among Arab publics, putting pressure on their governments to cool ties with Israel. “The longer the occupation lasts, the more ebbing of support that you’ll see for Israel and the more pressure you’ll see on Arab states from their publics,” said William Usher, a former Senior Intelligence Service officer at the Central Intelligence Agency who specializes in the Middle East. “This has the potential to devolve into a political and PR disaster.”

rosecutors in the federal election obstruction case against Donald Trump asked the judge to take extra steps to protect jurors’ identities, arguing the former president uses social media as a “weapon of intimidation.” Noting that a judge in a New York state case last week imposed a gag order after Trump disparaged his law clerk online, the government on Tuesday asked for “limited” restrictions on how both sides can research and use information about prospective jurors in the Washington case. They also requested that the court “strictly enforce” existing rules that shield jurors’ personal information. “Given that the defendant—after apparently reviewing opposition research on court staff—chose to use social media to publicly attack a court staffer, there is cause for concern about what he may do with social media research on potential jurors in this case,” the prosecutors wrote. A spokesperson for Trump didn’t immediately respond to a request for comment on the filing. The US wrote in its brief that the defense opposed the motion.

Running commentary

The government’s request reflects

Courtney McBride, Anna Edgerton, Annmarie Hordern and Joe Mathieu/Bloomberg

The IMF again expressed concern that the countries of the world were breaking into geopolitical blocs that could limit international trade and economic growth globally. The United States and its allies have imposed unprecedented sanctions on Russia for its invasion of Ukraine and have sought to become less reliant on Chinese imports as tensions with Beijing grow. The IMF noted that last year countries imposed nearly 3,000 new restrictions on trade, up from fewer than 1,000 in 2019. It sees international trade growing just 0.9 percent this year and 3.5 percent in 2024, down sharply from the 2000-2019 annual average of 4.9 percent.

‘Concerning conduct’

Special Counsel John “Jack” Smith’s office also suggested the court consider taking special protective measures such as having jurors avoid public entrances. Besides Trump’s “recent concerning conduct,” prosecutors noted reports of threats by his supporters against Chutkan and grand jurors who voted to indict Trump on state charges in Georgia. Trump, 77, is charged with conspiring to overturn the 2020 presidential election results, including by urging state officials to intervene, organizing slates of so-called alternate electors and pressuring then-Vice President Mike Pence to block Congress’s certification of the results. The case is one of four prosecutions, on top of two civil trials, he faces as he runs to regain the White House. The trial is set to begin March 4. Smith’s office said it wasn’t asking for more extreme measures—such

as keeping juror identities completely anonymous or sequestering the jury—“at this time,” but left open the possibility.

Advice-of-counsel defense

IN the New York case, Trump is on trial on civil fraud allegations. State Supreme Court Justice Arthur Engoron in Manhattan entered an order on Oct. 3 barring Trump and any other parties from posting online about his staff, after Trump shared a since-deleted message on his social media account about the judge’s law clerk, along with her photo. Also on Tuesday, prosecutors asked Chutkan to order Trump to disclose by Dec. 18 whether he plans to argue he was relying on the advice of lawyers as a defense. Smith’s office said that if Trump wanted to raise an advice-of-counsel defense, he would waive certain attorney-client privileges, potentially freeing the government to get access to more evidence. Trump is opposing that motion as well, prosecutors said. According to prosecutors, during the investigation at least 25 witnesses withheld information based on attorney-client privilege concerns related to Trump or his 2020 campaign. Bloomberg

China wind joins clean tech sectors caught in trade crosshairs

Endangered hostages

Then there’s the chilling complication of Hamas’s hostages. During Saturday’s raid, the group took scores of Israeli and foreign prisoners, from toddlers to elderly women. Hamas has said it’s prepared to kill a hostage each time Israel strikes civilian homes in Gaza without warning. Their potential fate in any ground incursion is unknown. There’s also a serious risk of escalation. Israel has already seen rocket attacks from Lebanon, raising the possibility of a multifront war and a descent into broader regional conflict if Israel responds with military force. Hanging above all of this is the possibility of Iran being drawn in. “The massacre and mass killing of the people of Gaza will bring a greater calamity” on Israel, Iran’s Supreme Leader Ali Khamenei said at a ceremony on Tuesday. US generals have warned Iran not to get involved and sent a carrier strike group to the region to deter Tehran. There’s also the problem of what would follow an invasion. There’s no guarantee of a durable political solution to accompany military action. Israel withdrew ground troops from Gaza in 2005 in part because a previous occupation of the region proved too costly. “The end will be when they accept an arrangement in which they give up any idea of carrying out terror attacks in the future,” Yossi Kuperwasser, a former top Israeli military intelligence official, said of the militants. “After the Israeli population understood what it means to live next to Hamas, they are ready to pay almost any price in order to stop living next to Hamas.” With assistance from

growing concerns by prosecutors and judges that Trump’s running commentary and public attacks on the criminal and civil cases against him could interfere with court proceedings or even pose security risks to jurors, witnesses, lawyers, judges and others. In the Washington criminal case, the government wants US District Judge Tanya Chutkan to have prospective jurors fill out a written questionnaire several weeks before the trial starts. It’s a system that courts across the country have used before, especially in high-profile cases, since it lets lawyers screen out certain jurors early before in-person selection starts. Trump’s online vitriol is already an issue in the case. Chutkan is set to hear arguments on October 16 on the government’s request for limits on what Trump can say publicly about the case. Prosecutors asked Chutkan to bar research beyond what’s publicly

available about potential jurors, particularly any steps to access private social media accounts or otherwise make contact. They asked the judge to prohibit using juror research for any purpose besides the selection process and to give a special instruction that both sides handle juror information “with care.”

By Bloomberg News

hina’s wind industry is the country’s latest clean energy sector to see its success draw the attention of foreign trade officials.

The European Union’s acting competition commissioner said last week that wind-power could merit investigation if Chinese firms are deemed to receive too much government aid. An EU anti-subsidy probe into Chinese electric vehicles is already underway, while its solar panel makers have been targeted by the US for price-dumping, circumventing tariffs and even using forced labor, a claim that Beijing denies. Joint EU-US duties on Chinese steel could also be announced later this month. Trade tensions are marring what otherwise has been one of the biggest success stories in the fight against climate change—China’s rapid expansion of clean energy and its supply chains. Fatih Birol, executive director of the International Energy Agency, last month cited the “spectacular growth” in solar panels and electric vehicles—both dominated by China—as the primary driver for the world to peak fossil fuel demand this decade. The EU wants to make itself more self-sufficient in clean tech to avoid the kind of outsourcing to China that happened with its solar sector over a decade ago. It’s also aiming to produce more critical raw materials

domestically to avoid over reliance on Beijing. Still, it shouldn’t be forgotten that European countries like Germany and Spain were pioneers of renewable energy subsidies to help those industries at their inception. It’s unclear in any case whether opening an investigation into windpower would be in the EU’s interests. Commissioner for Energy Kadri Simson wouldn’t rule out a probe while speaking on a panel in Brussels on Monday, while acknowledging that the EU needs more turbines than it’s able to produce through the end of the decade. “If there is a proof that we are facing dumping measures, then of course we have to address that this is unfair,” she said. “But fair competition is also important for our own industries because there is expectation that in several sectors our companies can be the exporters.” Simson is in Beijing this week to co-chair the EU-China Energy Dialogue with Zhang Jianhua, chairman of the National Energy Administration.

Domestic content

Until recently, Chinese wind firms have been content to stay within

their domestic market, the world’s largest, with 97% of sales in 2022 going to projects in China, according to BloombergNEF. That’s now changing, as manufacturers increasingly target overseas buyers, offering prices at discounts of about 20% to European and US producers. Those discounts are possible because of diverging trends in global turbine prices. The end to China’s nationwide subsidies for onshore projects in 2020 pushed developers to press for lower prices, squeezing profit margins. At the same time, China was able to exert more control over material and fuel costs than Europe during last year’s energy crisis by relying on its vast coal reserves, helping turbine makers lower prices even as they soared elsewhere in the world. China’s national and local governments have myriad ways of supporting companies, from direct investments in firms to preferential land and financing arrangements. China also helped its wind industry develop during its early stages by promising extra payments above normal electricity rates, guaranteeing projects would be profitable at a time when they were more expensive than fossil fuel alternatives. That created enough demand for turbines, and manufacturers have been able to scale up and lower costs so that building wind generation is now about half the cost of new coal power, according to BloombergNEF.

Low penetration

Beijing-based Sany Heavy Energy Co. last month announced plans to install two supersized onshore turbines in Germany. Goldwind Science & Technology Co. is looking for projects in Spain, and Mingyang Smart Energy Group is trying to enter the UK offshore market, bne IntelliNews has reported. Any EU measures to constrain Chinese companies are unlikely to shake things up in the near term, given China’s low penetration of its market. But they would create barriers to competition further down the road, and could potentially choke off a source of growth for Chinese firms. “Chinese manufacturers are targeting Europe for sure, but their market share remains very small,” said Leo Wang, an analyst with BloombergNEF in Beijing. “Even if an anti-subsidy investigation leads to a tariff on Chinese turbines, it will have very limited impact on the dynamics of the EU wind market.” An official with industry group China Wind Energy Association declined to comment on a potential probe. Even if an investigation is launched, it’s unclear how it might play out as most of China’s renewable energy subsidies are paid to project developers, not manufacturers, said Dennis Ip, an analyst at Daiwa Capital Markets. With assistance from Kathy Chen / Bloomberg

China frees detained Australian reporter in sign of better ties By Ben Westcott

ustralian journalist Cheng Lei has flown back to Melbourne after being released from about three years of detention in China, Prime Minister Anthony Albanese said, in a major sign of diplomatic warming after years of tensions. Albanese said Wednesday he had spoken to the former detainee in Melbourne, and she had been reunited with her two children. “Her return brings an end to a very difficult few years for Cheng and her family,” Albanese said at a news conference, describing the journalist as “strong and resilient.” Foreign Affairs Minister Penny Wong met Cheng at the airport, he added. Relations between Beijing and Canberra have improved since the election of Albanese’s center-left Labor government in May 2022, in-

cluding the restarting of high-level ministerial meetings and the ending of several export restrictions by Beijing. In November last year, Albanese met Chinese President Xi Jinping on the sidelines of the Group of 20 meetings in Indonesia. Australian companies are once again exporting coal to China and the two countries announced a deal aimed at getting rid of China’s tariffs on barley. Albanese has said he plans to visit Beijing this year, though recent trips to Taiwan by Australian politicians may halt momentum for the better ties. On Wednesday, China expressed its disapproval to Australia over an ongoing visit to Taiwan by former Prime Minister Scott Morrison. Speaking at the Asia Society event in Melbourne, Ambassador Xiao Qian said Morrison’s visit to Taiwan was a “serious concern” and hoped Australia’s politicians would

be “sensitive” to China’s views. Australian writer Yang Hengjun remains in jail in China. Albanese said his government was continuing to advocate for him. Yang was taken into custody by Chinese authorities in 2019 and recently wrote to relatives and friends in Australia that he had fallen ill in prison. Cheng was first detained in China in 2020 on espionage charges, and Canberra repeatedly called for her release. She was freed after the “completion of judicial processes in China,” Albanese said. Cheng was arrested in early 2021 after authorities concluded she “conducted illegal activities on supplying state secrets overseas.” She was tried last March in a closed hearing but no verdict was ever publicly announced. Under China’s opaque legal system, authorities can hold someone indefinitely without releasing information. Cheng’s detention happened at

a time of worsening ties between Beijing and Canberra after Morrison’s government called for an independent probe into the origins of the coronavirus. Her arrest sparked fears that Beijing had targeted the mother of two to exert pressure on Canberra. Cheng had hosted business shows on Chinese state media from 2012 and was well known among Beijing’s circle of diplomats and journalists. She previously served as China correspondent for CNBC after graduating from the University of Queensland with a bachelor’s degree in commerce and serving as an accountant at Cadbury Schweppes, according to a LinkedIn profile that is no longer online. She was among several foreign nationals from countries with fraught political ties with Beijing who were detained on spy charges in recent years. Bloomberg

BusinessMirror

A30 Thursday, October 12, 2023

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SHORING UP MARINE ECOSYSTEMS IN MABINI, BATANGAS M

ABINI, Batangas — 16th September 2023— Shore It Up (SIU), the flagship Corporate Social Responsibility (CSR) program of Metro Pacific Investments Corporation (MPIC), has recently partnered with the municipality of Mabini, Batangas in the ongoing efforts to conserve and protect the coastal and marine environment.

To provide substantial support for this initiative, Metro Pacific Investments Foundation (MPIF), the CSR arm of MPIC, has pledged a generous allocation of P1.5 million over a span of three years. These funds will cover a range of critical aspects, including training, allowances, uniforms, equipment, and logistical support, all of which are essential for the successful implementation of the Marine Protection, Inspection, and Conservation Guardians program in Mabini.

Facility for Holistic Management

As part of its multifaceted approach to environmental conservation, SIU inaugurated the Coastal Resource Management Office (CRMO) in Mabini. This facility will enable the holistic management and preservation of coastal resources, serving as a focal point for community engagement and awareness. Present during the

sustainable development and marine conservation in the Philippines.

Further Steps in Conservation

This initiative was made to coincide with the globally celebrated International Coastal Cleanup (ICC) on September 16, 2023. This event, observed around the world, aims to raise awareness, and inspire action for the protection and betterment of our oceans. During the ICC weekend, the dedicated volunteers of Shore It Up! took a handson approach by installing Mooring Buoys off the coast of Mabini. This move not only promotes responsible boating but also significantly reduces the potential damage to fragile coral reefs and marine life caused by traditional anchoring methods. International Coastal Cleanup Day, celebrated annually, emphasizes the importance of ocean conservation and encourages individuals and organizations to take proactive steps to protect our oceans and marine ecosystems. Shore It Up (SIU) and Metro Pacific Investments Corporation (MPIC) extend their heartfelt gratitude to the local government of Mabini, Batangas, and the dedicated volunteers who contributed to the success of this endeavor in achieving sustainable environmental goals.

MPIF President, Melody del Rosario turns over brand new computer to the CRMO

inauguration of the Coastal Resource Management Office (CRMO) was MPIF President, Melody del Rosario. She expressed her excitement for this collaboration, stating, "This partnership is another representation of our unwavering commitment to environmental sustainability and community development. We believe that together, we can make a positive impact on the coastal and marine ecosystems of Mabini, Batangas, and contribute to a brighter future for our oceans."

Stewardship of Marine Ecosystems

In line with the inauguration of the Coastal Resource Management Office (CRMO) in Mabini, Batangas, SIU’s partnership includes the implementation of the Marine Guardians program that will further support ecotourism and environmental conservation in the region. The Marine Guardians are

(From left to right) Vice Mayor Leonido Bantugon, Mayor Nilo Villanueva, MPIF President Melody del Rosario, and SIU Board Advisor Romy during the MOA signing

local individuals who will be employed to serve as dedicated stewards of the coastal and marine environment in Mabini, Batangas. Their role will ensure the protection and sustainable management of the rich marine resources in the area. MPIF is fully committed

to supporting the Marine Guardians program by providing the necessary resources. This includes comprehensive training programs, allowances, uniforms, and state-of-the-art equipment essential for the effective execution of their responsibilities.

Ribbon cutting for the inauguration of the Coastal Resource Management Office together with Dr.Ramir Beloso, PCapt. Benzar Ali, Jake Calangi, MPIF President Melody del Rosario, Bokal Arlin Magboo, Con. Richard Dieza, VM Leonido Bantugon, and Romy Trono.

The training and equipping of local volunteers to become Marine Guardians are aimed at enhancing their understanding of the marine environment and the valuable resources it possesses. This will in turn help them take proactive measures to safeguard the coastal and marine ecosystems in Mabini, Batangas. MPIF through its Protection, Inspection, and Conservation Guardians Program has conducted a successful pilot test of the program in Medina, Misamis Oriental since 2018. This program aims to protect and conserve marine resources through the deployment of guardians. As a result of its success in Medina, other areas such as Puerto Galera and Palawan have also adopted this program. These areas recognize the positive impact of the Marine Guardians program to be implemented in their respective areas to enhance marine conservation efforts in their marine sanctuaries. Moreover, the Marine Guardians program will also be started in Marinduque and Romblon. Marinduque as a Shore it Up partner aims to benefit from the program's effective marine protection measures. The MIMAROPA area with a network of marine guardians is intended to optimize safeguarding the Verde Island Passage. The MPIF program will play a crucial role in preserving the ecological integrity and biodiversity of these areas, contributing to

About MPIF Metro Pacific Investments Corporation goes beyond just the interests of its firms by integrating CSR into its business model and by embracing responsibility for its companies' actions, thereby creating a positive impact through its activities on environment, employees, communities and stakeholders. Metro Pacific Investments Foundation, Inc.'s (MPIF) strategic program has evolved throughout its ten years of existence and is now geared towards three fronts of Social Infrastructure: Education, Environment and Economic Empowerment. In line with Metro Pacific Investments Corporation's (MPIC) commitment to nation-building, MPIF seeks to complement MPIC's efforts on the hard front of infrastructure development MPIF is committed to implementing all its programs - especially to benefit communities, organizations, families and individuals in the areas in which MPIC portfolio companies operate. As MPIC continues to grow and expand, so will MPIF's involvement and participation in noteworthy and transformative corporate social responsibility initiatives continue to evolve. MPIF is committed to implementing all its programs - especially to benefit communities, organizations, families and individuals in the areas in which MPIC portfolio companies operate. As MPIC continues to grow and expand, so will MPIF's involvement and participation in noteworthy and transformative corporate social responsibility initiatives continue to evolve.

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ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

98 GROUP INTERNATIONAL AND CONVENTION CORPORATION Flr. No. 7th, Horizon Center Bldg., 100 Andrews Avenue St., Zone 20, District 1, Barangay 183, Pasay City THAM YONG HOO President And Chief Executive Officer 1.

Brief Job Description: Develop high quality business strategies and plans ensuring their alignment with short term and long term objectives.

Basic Qualification: Efficient in writing, speaking, and reading in Mandarin.

Brief Job Description: Design and code applications in line with functional and technical programming standards.

CHAUDHARY, RICHA Recruiting Senior Manager

Brief Job Description: Lead the respective team and ensure compliance and control of all recruitment activities and processes. Execute all or some of the sourcing, scouting, and candidate management processes including supplier relationship management, alumni programs, recruitment marketing, and analytics.

Basic Qualification: Bachelor’s Degree in Information Technology, Computer Science or other relevant fields.

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

KHER, NATASHA MADAN Service Delivery OPS Lead Senior Manager 4.

Brief Job Description: Assign all work assignments, commit the team to the work, manage the quality of the work and drive the people management activities, automation, innovations, and digitization within the team.

PARK, HONGGU VIP Host International 13.

Basic Qualification: 8-10 plus years of delivery/people management experience, and with Bachelor’s degree.

Brief Job Description: Responsible for providing high-quality services to our VIP/VVIP customers.

WANG, DONGJUN Marketing Specialist 14.

Brief Job Description: Conducting market research to establish customer trends and habits. WANG, KAIXI Marketing Specialist

15.

Brief Job Description: Conducting market research to establish customer trends and habits. WEN, JIAYONG Marketing Specialist

16.

Brief Job Description: To instruct and educate subordinates in order to prepare accurate monthly and yearly financial statements for the company.

Brief Job Description: Conducting market research to establish customer trends and habits.

BANG, SEONGTAE Field Sales Consultant 17.

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

JUNG, JOONHYUNG Field Sales Consultant 18.

Brief Job Description: Managing incoming calls and customer service inquires. HE, HONGMEI Chinese Customer Service Representative

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

CHIRISTINA Indonesian Customer Service Representative 8.

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

DEWI SUSANTI Indonesian Customer Service Representative 9.

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

LEE, YOOMIN Field Sales Consultant 19.

10.

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

CUN SAU TRUONG Vietnamese Customer Service Representative 11.

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

HOANG, TRONG SI Vietnamese Customer Service Representative 12.

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

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

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

SUN, HAIBIN Field Sales Consultant 20.

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

SHETTY, AKASH PRAKASH Operations Manager II

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

Basic Qualification: Fluent in Mandarin, both verbal and written.

LI, YONG Chinese Construction Technician

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin, both verbal and written. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Analyze and maintain all Client Service Level Agreements. Implement improvement plans as needed.

MO, PENGMING Chinese Construction Technician

Salary Range: Php 30,000 - Php 59,999 25.

Basic Qualification: Can research accounts and generate or follow through sales leads. Can evaluate customer’s skill, and need and build productive lasting relationships. Can meet personal and team sales targets.

Basic Qualification: Bachelor’s degree or associate degree in any field with 3 years and above managerial experience.

Brief Job Description: Manage and supervise facility development and image enhancement projects. Coordinate logistics and communication between clients, vendors, and stakeholders. Follow all state and safety requirements to implement good safety conditions at work site.

WANG, YINCHANG Chinese Construction Technician

26.

22.

Brief Job Description: Answers telephone, e-mail, or chat queries related to HR following client policies and procedures.

DEPREZ POWER CONSTRUCTION INC. 37/f Lkg Tower, 6801 Ayala Avenue, Bel-air, City Of Makati

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

Basic Qualification: Able to speak and communicate using Mandarin is an advantage. Able to explain problems simply and clearly. Proficient in MS Office. Able to follow health and safety regulations. Excellent mathematical and problem-solving skills.

WANG, ZHIHONG Chinese Construction Technician

27.

XIAO, SHIJUN Chinese Construction Technician

28.

XIAO, YONG Chinese Construction Technician

29.

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

Basic Qualification: At least 2nd year college or senior high school, minimum 6 months BPO experience, and fluent in English and Korean.

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

CONDUENT BUSINESS SERVICES PHILIPPINES, INC. 7f One E-com Building, Palm Coast Avenue, Mall Of Asia Complex, Pasay City

CHO, EUNCHONG HR Solution Services Associate

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

Basic Qualification: Fluent in Mandarin, both verbal and written.

CONCENTRIX SERVICES B.V. PHILIPPINE BRANCH 11th And 12th Floors Exxa Tower Brdigetowne, C5 Road, Ugong Norte, Quezon City

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

QUALIFICATION AND SALARY RANGE

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

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

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

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

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

23.

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

21. BUI THANH NGA Vietnamese Customer Service Representative

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

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CHEN, ZUNPING Chinese Construction Technician

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

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

Basic Qualification: Proven professional experience.

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

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

Basic Qualification: Speaking and writing in Japanese language (native level).

No.

24.

ACOM CONSUMER FINANCE CORPORATION 10/f Unit A, 45 San Miguel Bldg., No. 45 San Miguel Ave., Ortigas Center, San Antonio, City Of Pasig

MURANAKA, KOTARO General Manager For Corporate Planning And Control Department

QUALIFICATION AND SALARY RANGE

BLUE-CHIP CENTRAL INC. 8/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Graduate of a bachelor’s degree in human resources or any equivalent; must have at least 12 years of experience in end-to-end recruitment preferably in volume hiring; has experience in candidate screening & assessment; and has experience in candidate relationship management.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

A31

ESTABLISHMENT / ADDRESS

BLOOMBERRY RESORTS AND HOTELS INC. Solaire Resort And Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

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

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong

RASHINKAR, NIKITA NAVAKETAN App/cloud Support Specialist

No.

Thursday, October 12, 2023

DGM BUSINESS CONSULTANCY INC Rm 210 2nd Floor Manila Times Building, 409 A. Soriano Ave. Intramuros, Barangay 654, Intramuros, City Of Manila

MORONI, JESSE ANTHONY Assistant Supervisor 30.

Brief Job Description: Collaborating with management and staff to understand company need and maintain new business opportunities.

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

BusinessMirror

A32 A6 Thursday, October 12, 2023

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LEE, MINKI Sales Consultant

31.

Brief Job Description: Collaborating with management and staff to understand company need and maintain new business opportunities.

ZHU, SHIJIE Sales Consultant 32.

Brief Job Description: Collaborating with management and staff to understand company need and maintain new business opportunities.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Bachelor’s degree in Business Management. Excellent communication skills verbal or written.

No.

NGUYEN, THANH TUNG Vietnamese Speaking Customer Service Representative 45.

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

33.

Brief Job Description: Coordinate and supervise activities of personnel engaged in preparing and cooking (Indian Food Items). Computes required amount of food needed on a daily basis. Make orders and requisition of food items.

46.

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

Basic Qualification: College graduate. With previous work experience in a similar role. Fluent in English and Indian languages.

47.

34.

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

QIN, JINKE Mandarin Speaking Customer Service Representative 35.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs. WU, XINXIN Mandarin Speaking Customer Service Representative

36.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs. YANG, LONGXIANG Mandarin Speaking Customer Service Representative

37.

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs. DANG THI CHUC ANH Vietnamese Speaking Customer Service Representative

38.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels. DUONG, VAN HAU Vietnamese Speaking Customer Service Representative

39.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone and social media channels.

HO THI MONG HUYEN Vietnamese Speaking Customer Service Representative 40.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

LE, THI LE TUYET Vietnamese Speaking Customer Service Representative 41.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone and social media channels.

LE, THI NGUYET Vietnamese Speaking Customer Service Representative 42.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone and social media channels.

LY DIEU HAU Vietnamese Speaking Customer Service Representative 43.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

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

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

49.

44.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels. VI, THI MAI Vietnamese Speaking Customer Service Representative

50.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

LUO, HUI Chinese Speaking Admin Associate 51.

Brief Job Description: Provides administrative support to ensure efficient operation of sales training department.

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

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

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

VIRIYATHONPHAN, SURATIN Thai Admin Support Specialist 52.

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

Basic Qualification: Proficient in speaking Vietnamese language.

53.

54.

55.

DHAVID VIVEKANANDA Indonesian Account Specialist Brief Job Description: Preparing and making a bank deposit.

DWI HEPFI KRISTIANI Indonesian Account Specialist Brief Job Description: Manage large amount of incoming phone calls.

HENDY Indonesian Account Specialist Brief Job Description: Manage large amount of incoming phone calls.

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

Basic Qualification: Proficient in speaking Vietnamese language.

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

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

60.

Brief Job Description: In charge of implementation of develop strategy to execute process planning and management in accordance to the company’s strategy.

Basic Qualification: Ability to analyze financial data and generate reports. Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Foreign language speaking.

56.

YUNUS NOTO Indonesian Account Specialist

YIN, MINGRUI Chinese Sales Associate 61.

Brief Job Description: Locate merchandise for customers and places orders, where necessary. Introduces promotions and new products to customers.

Brief Job Description: Preparing and making a bank deposit.

YANG, HAIBIN Financial Specialist 62.

57. Basic Qualification: Proficient in speaking Vietnamese language.

Brief Job Description: Collaborate with top management to develop compelling contents to publish through corporate and media collaboration.

Brief Job Description: Evaluate capital expenditures and incoming generation.

HSU, TZU-HAN Chinese Technical Support Representative 63.

MUHAMAD ADITYAR Indonesian IT Support Specialist Brief Job Description: Maintaining hardware and software installations.

Brief Job Description: Deliver service and support to end-users using and operating automated call distribution phone software, via remote connection or over the internet.

FOKINA, ANASTASIIA GSD Tower Manager 64.

Basic Qualification: Bachelor’s degree or any 4 year course and at least 1-3 years of experience in the similar field. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficient in reading and writing in English and their respective native language for the position applied. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible for IT support service delivery for JTI users world-wide in one of two areas/towers: Business Solutions area and technical area.

Basic Qualification: College graduate. With at least 3 years of work experience in a related field. Salary Range: Php 150,000 - Php 499,999

KOREAN AIRLINES CO. LTD. Lpl Plaza 124, L.p Leviste St. (alfaro), Bel-air, City Of Makati

HWANG, CHUL Station Manager 65.

Brief Job Description: In charge of the operation and business transactions of the airport station.

Basic Qualification: Fluent in Korean language. Salary Range: Php 150,000 - Php 499,999

MAXIMA MACHINERIES, INC. 908, Quezon Ave. Cor Dr. Garcia St., Paligsahan, Quezon City

66.

Brief Job Description: Responsible for all business which the position deals with. Duties involves matters confidential in nature, such as business negotiations on terms and conditions of transactions.

Basic Qualification: College graduate. With at least 5 years of work experience in the development and rental/ sales activity of Industrial Equipment. Fluent in Japanese and English languages. Salary Range: Php 60,000 - Php 89,999

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

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

LI, HAORU Assistant Supervisor

Basic Qualification: Exceptional ability to provide technical support and resolve queries. Salary Range: Php 60,000 - Php 89,999

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

LIU, JUN Assistant Supervisor 68.

H&CO TRADING CORPORATION House No. 282, Unit 603 Cya Land Bldg., Edsa Ext Corner Celle St. Zone 10, Barangay 75, Pasay City

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

JTI GBS PHILIPPINES, INC. 14th And 17th Floor - Office A, Ten West Campus Building, Le Grand Avenue, Fort Bonifacio, City Of Taguig

67.

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

Basic Qualification: College graduate. Fluent in Chinese-Mandarin language.

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. 25/f Robinsons Summit Jg Summit Center, Ayala Ave., Bel-air, City Of Makati

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

Basic Qualification: Fluent in both Indonesian and English languages.

Basic Qualification: In charge of team key performance indicator management, decision checkpoint/control point operation support. Graduated with a bachelor’s degree in Management/IT and other related courses preferably with Master’s degree is an advantage and highly proficient in Chinese and English languages.

INTERGENERATION PRIME HOLDING INC. 11/f Tower 1 The Enterprise Center, 6766 Ayala Ave. Cor, Paseo De Roxas, San Lorenzo, City Of Makati

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

Basic Qualification: Ability to analyze financial data and generate reports.

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

HUAYI GLOBAL VISA INC. (SCS QUALITY CONSULTANCY SERVICES) Unit No. C-118, Flr. No. Ground, Six Senses Residences Bldg., Metrobank Ave St., Metropolitan Park Subd., Barangay 76, Pasay City

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

Basic Qualification: Foreign language speaking.

Basic Qualification: College graduate. Fluent in English, excellent analytical skills and possess fundamental computer skills, specifically in MS Office applications.

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

MOCHIZUKI, KEIJI Section Manager

ELON CHALMI Indonesian Financial System Manager

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

ZHU, JIAJIN Operation Manager For Digital Power Business Quality Operation

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

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

QUALIFICATION AND SALARY RANGE

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

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

Basic Qualification: Proficient in speaking Vietnamese language.

Brief Job Description: Timely and accurate processing of specific transactions according to standard. Contribute to process improvements and documentations.

Basic Qualification: Proficient in speaking Vietnamese language.

GIGA INFORMATION TECHNOLOGY AND SOFTWARE DEVELOPMENT INC. 31/f Pbcom Tower 6795 Ayala Ave., Cor. V.a. Rufino St.,, Bel-air, City Of Makati 2/f Lipam’s Building, 40 Presidents Avenue, B. F. Homes, City Of Parañaque

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

Basic Qualification: Proficient in speaking Vietnamese language.

59.

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

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

BOONAYASURAK, KEERAYUTH Customer Service Relationship (Thai Speaker)

Basic Qualification: Proficient in speaking Vietnamese language.

GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati Basic Qualification: Proficient in speaking, reading and writing in Mandarin.

No.

Basic Qualification: Proficient in speaking Vietnamese language.

EMN INTEGRA INC. Unit G & H 13th Floor Strata 100 Bldg., F. Ortigas Jr. Road Ortigas Center, San Antonio, City Of Pasig

58. NGO THI MAU Vietnamese Speaking Customer Service Representative

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels. TRAN, VAN HOANG Vietnamese Speaking Customer Service Representative

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

EASYTECH SUPPORT INC. 9-11/f, 14/f Capella Bldg., Asean Drive Filinvest, Alabang, City Of Muntinlupa

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels. NONG THI OANH Vietnamese Speaking Customer Service Representative

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

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

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

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone and social media channels. NGUYEN, THI LUYEN Vietnamese Speaking Customer Service Representative

48.

WANG, TAOTAO Marketing And Sales Agent

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels. NGUYEN, THI HUONG Vietnamese Speaking Customer Service Representative

DUSIT THANI PHILIPPINES, INC. (DUSIT THANI MANILA) Ayala, Center, San Lorenzo, City Of Makati SINGH, SURJEET Indian Chef

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

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

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION YAN, QINGPING Assistant Supervisor

69.

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

NANG LOA NUM SAING Financial Consultant 70.

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

NING, SHURU Management Consultant 71.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Bachelor’s Degree in Business Management. Excellent communication skill verbal or written.

No.

VU THI TRANG Call Center Agent 84.

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

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

85.

72.

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

86.

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

WANG, ZHENCHANG Marketing Specialist 73.

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

YE, XIAOYANG Marketing Specialist 74.

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

WANG, SHENGYAO Operation Supervisor 75.

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

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

88.

LUO, NI Chinese Customer Service Representative 89.

76.

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

90.

91.

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

77.

78.

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

GAO, LU Call Center Agent Brief Job Description: Customer service.

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

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

TAN JIE LING Malaysian Customer Service Representative 93.

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

79.

Brief Job Description: Customer service.

NGO VAN QUYEN Vietnamese Customer Service Representative 94.

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

NGUYEN MANH TUNG Vietnamese Customer Service Representative 95.

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English.

80.

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

96.

81.

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

TRAN MINH HIEU Call Center Agent 82.

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

TRAN THI NGUYET Call Center Agent 83.

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

OCEAN MIGHT SUPPORT MANAGEMENT INC. 33/f Tower 6789, Ayala Ave., Bel-air, City Of Makati

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

BAN, THI LUYEN Customer Service Representative

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

102.

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

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

103.

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

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

104.

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

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

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

PHAM, TUAN VU Vietnamese Customer Service Representative 99.

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English.

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

NGUYEN, HUU CHUONG Vietnamese Customer Service Representative

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English.

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

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

NGUYEN VAN TRUONG Vietnamese Customer Service Representative

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English.

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

Brief Job Description: Responsible for handling questions, comments and complaints regarding a particular business. Their ultimate goal is to provide positive customer experiences by enhancing relationships between them.

HONG BAC KIN Customer Service Representative

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

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

JACKY Customer Service Representative 106.

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

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

HANDIRYAN GROHO Customer Service Representative

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

DAO THI CHINH Customer Service Representative

KELVIN LIEW KUOK HOW Customer Service Representative 107.

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

MERRY Customer Service Representative

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

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

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

TRINH LAN PHUONG Vietnamese Customer Service Representative 100.

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

TRUONG VAN DUNG Vietnamese Customer Service Representative 101.

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

QUALIFICATION AND SALARY RANGE

Basic Qualification: 18-55 y/o, with at least 6 months of experience, and with good verbal and written skills. Salary Range: Php 30,000 - Php 59,999

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

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

109.

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

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

PHONG BAO MINH Customer Service Representative 110.

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

TA MY PHUONG Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 111.

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

98. TONG VAN CUONG Call Center Agent

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English.

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

97. NGUYEN TUAN LONG Call Center Agent

No.

ONG LE QUAN Customer Service Representative

NGUYEN THI NGUYET Vietnamese Customer Service Representative LIN, YAOXIANG Call Center Agent

QUALIFICATION AND SALARY RANGE

108.

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

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English.

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

LAI HUI MING Malaysian Customer Service Representative

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

SAW MYINT THU Burmese Customer Service Representative

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

WANG, XING Chinese Customer Service Representative

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

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

RONG, HUADONG Chinese Customer Service Representative

92. ZHENG, WENCONG Sales Consultant

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

A33

ESTABLISHMENT / ADDRESS

105.

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

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

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

LUO, HAO Chinese Customer Service Representative

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

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

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

LI, PENGFEI Chinese Customer Service Representative

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

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

JIANG, MING Chinese Customer Service Representative

87. WANG, YING Marketing Specialist

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

GUO, HONGFU Chinese Customer Service Representative

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, October 12, 2023

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

Basic Qualification: 18-55 y/o, with at least 6 months of experience, and with good verbal and written skills. Salary Range: Php 30,000 - Php 59,999

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

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

TANG TIEU HONG Customer Service Representative 112.

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

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

VI MY TRINH Customer Service Representative 113.

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

VONG LINH Customer Service Representative 114.

Basic Qualification: 18-55 y/o, with at least 6 months of experience, and with good verbal and written skills. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A34 A6 Thursday, October 12, 2023

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION VONG NI VANH Customer Service Representative

115.

VONG, TINH CHAN Customer Service Representative 116.

WILSON Customer Service Representative 117.

Brief Job Description: Processes complaints and issues related to products or services, helps the customer complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well.

RIANA HR Admin 118.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

Basic Qualification: 18-55 y/o, with at least 6 months of experience, and with good verbal and written skills.

119.

Brief Job Description: Provide specialized services to assist end-users in technology needs.

127.

120.

Brief Job Description: Provide customer service in assisting clients with their inquiries about our admin plus services via inbound & outbound calls, secure messages, click to chat.

Brief Job Description: Study company profile, and conduct market research.

YUN, BAEKJUNG Marketing Consultant 128.

Brief Job Description: Study company profile, and conduct market research.

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

Basic Qualification: 18-50 years old, good organizational skills, and proficient in relevant computer applications. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: 18-55 y/o, with at least 6 months of experience, and with good verbal and written skills.

129.

LEE LIAN JUANG Malaysian Admin Support Specialist Brief Job Description: Manages daily operations of the IT department.

Brief Job Description: Responsible in assisting the management in ensuring smooth operations of the outlet.

CAO, LINJING Customer Service Representative 130.

Basic Qualification: Fluent in Mandarin both verbal and written. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluency in English and French - speaking and writing. Superior customer services skills.

Brief Job Description: Help customers with complaints and questions. Give customers information about products and services.

HSU, JU-YING a.k.a. HSU, RU-YING Chinese Speaking Customer Service Staff 131.

Brief Job Description: Provide outstanding and exceptional customer service.

Brief Job Description: Study company profile, and conduct market research.

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

123.

Brief Job Description: Study company profile, and conduct market research.

132.

Basic Qualification: Proven professional experience. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provide outstanding and exceptional customer service.

QU, JUNLONG Chinese Speaking Customer Service Staff 133.

Basic Qualification: College graduate, fluent in English, and preferably 6 mos. - 1-year customer service experience.

134.

124.

Brief Job Description: Study company profile, and conduct market research.

125.

Brief Job Description: Study company profile, and conduct market research.

Basic Qualification: College graduate, fluent in English, and preferably 6 mos. - 1-year customer service experience.

135.

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

Brief Job Description: Provide outstanding and exceptional customer service.

Basic Qualification: College graduate, fluent in English, and preferably 6 mos. - 1-year customer service experience.

126.

Brief Job Description: Study company profile, and conduct market research.

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

Basic Qualification: Graduate of any college course and preferably 6 months to 1-year experience in the same industry.

Basic Qualification: At least 19 years old, and ability to speak, write and communicate in their respective language.

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

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

Basic Qualification: Graduate of any college course and preferably 6 months to 1-year experience in the same industry.

DUONG NGOC YEN Recruitment Associate (Vietnamese Speaking) 141.

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

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

Basic Qualification: College graduate. Fluent in Mandarin and English language. With previous experience in handling different customer complaints.

WANFANG TECHNOLOGY MANAGEMENT, INC. 6-9/f Tower 2 Double Dragon Plaza, Edsa Cor. Macapagal Ave., Barangay 76, Pasay City

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

LEE LIAN CHIA Malaysian Admin Support Specialist 142.

Brief Job Description: Provide outstanding and exceptional customer service.

YANG, XIANGKAI Chinese Speaking Customer Service Staff

Basic Qualification: College graduate, fluent in English, and preferably 6 mos. - 1-year customer service experience.

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

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

Basic Qualification: Can speak Chinese/ Mandarin fluently.

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

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

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

NGUYEN HOAI KIM NGAN Vietnamese Marketing Specialist 144.

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

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

TON NU MINH THU Vietnamese Marketing Specialist

Basic Qualification: Can speak Chinese/ Mandarin fluently.

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

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

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

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

VU, BICH NGOC Vietnamese Marketing Specialist 146.

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

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

Brief Job Description: Provide outstanding and exceptional customer service.

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

*Date Generated: Oct 11, 2023 In the ad material of Notice of Filing of Application for Alien Employment Permits published on October 10, 2023, the position of KIM, WOOJIN under the company CONCENTRIX CVG PHILIPPINES, INC., should have been read as ADVISOR I, TECHNICAL SUPPORT and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on October 11, 2023, the position of SI MY HUONG under the company NEO INCORPORATED, should have been read as CHINESE SPEAKING DATA ENTRY CLERK and not as published.

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

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

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

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

Basic Qualification: College graduate, fluent in English, and preferably 6 mos. - 1-year customer service experience.

Brief Job Description: Provide outstanding and exceptional customer service.

XIE, ZHI Chinese Speaking Customer Service Staff

ZHANG, SONGYAN Chinese Speaking Customer Service Staff 138.

NGUYEN HUU CUONG Marketing Consultant

140.

145.

137.

MU, JU Marketing Consultant

Brief Job Description: Maintain the operations of electronic gaming devices.

LIU, ZONGYUAN Recruitment Associate (Chinese Speaking)

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

136. LU, YUN Marketing Consultant

Basic Qualification: College graduate with experience in maintaining gaming devices. Fluent in Mandarin and gaming devices.

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

143.

WU, YUE Chinese Speaking Customer Service Staff LI, BAIMEI Marketing Consultant

139.

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

QUALIFICATION AND SALARY RANGE

LE, TRAN YEN NHI Vietnamese Marketing Specialist

WU, XUJUN Chinese Speaking Customer Service Staff

122.

Basic Qualification: College graduate, fluent in English, and preferably 6 mos. - 1-year customer service experience.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

HOANG THI HUE IT Specialist

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

UNLAD SILANGAN CORP. P2 4f 24 Diosdado Macapagal Ave., Mall Of Asia, Barangay 76, Pasay City

THE SKYLINE ABYSS INTERNATIONAL INC. Unit 116 G/f The Manila Residences Tower 1, Taft Ave., Barangay 725, Malate, City Of Manila

HUANG, ZHENGRI Marketing Consultant

Basic Qualification: College graduate, fluent in English, and preferably 6 mos. - 1-year customer service experience.

No.

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

SURESTE PROPERTIES INC. The Executive Offices, Solaire Resort & Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

121.

QUALIFICATION AND SALARY RANGE

TYCHE HOLDINGS INC. 7/f Rrr Building, Block 2 Lot 16 Aseana Enclave Street, Tambo, City Of Parañaque

PHAM VAN DONG Chinese Speaking Customer Service Staff

YANG, NYUNSEON Supervisor, VIP F&B International

ESTABLISHMENT / ADDRESS

TIAN XIA TECHNOLOGIES INTERNATIONAL, INC. 6/f Filinvest Cyberzone Bldg. B, Superblock A Central Business Park 1 Bay City St., Barangay 76, Pasay City

SUN LIFE FINANCIAL ASIA SERVICES LIMITED 4th Flr. Sunlife Centre, 5th Ave. Cor. Rizal Drive, Bonifacio Global City, Fort Bonifacio, City Of Taguig

HIRWA, LAMBERT GB AdminPlus Member Specialist

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

NONG, CAINUAN Marketing Consultant

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

OCTAGON PRIME OUTSOURCING SERVICES INC. 30/f Tower, 6789 Ayala Ave.,, Bel-air, City Of Makati

LIN, RUISHENG Customer Service Representative

No.

www.businessmirror.com.ph

Brief Job Description: Provide outstanding and exceptional customer service.

Basic Qualification: Can speak Chinese/ Mandarin fluently.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

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

Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

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

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, October 12, 2023

Meralco rates to rise in Oct Dito names new

By Lenie Lectura

@llectura

lectricity rates in October will go up by P0.4201 per kilowatt hour (kWh) to P11.8198 per kWh from P11.3997 per kWh in September due to higher generation rates, according to the Manila Electric Co. (Meralco).

Meralco said the upward adjustment for October is equivalent to an increase of around P84 in the total electricity bill of residential customers consuming 200 kWh. The generation charge for October went up by P0.3015 to P7.1267 per kWh from P6.8252 per kWh last month due to higher charges from Independent Power Producers (IPPs) and Power Supply Agreements (PSAs). Charges from IPPs went up by P0.4599 per kWh. Also, charges from PSAs also went up by P0.1658 per kWh, partly because of the forced shutdown of the 420 MW First NatGas-San Gabriel power plant from September 18 to 24. Lower coal prices abated the in-

crease in PSA charges. IPPs and PSAs accounted for 35 percent and 47 percent, respectively, of Meralco’s total energy requirement for the September supply month. Charges from the Wholesale Electricity Spot Market (WESM) declined by P0.0525 per kW h mainly due to adjustments. The supply situation in the Luzon grid improved last September as average demand and average capacity on outage were both lower, by around 165 MW and 315 MW, respectively. Meralco sourced 18 percent of its total energy requirement from WESM for the period. The company also announced that it started implementing a sec-

ond PSA with South Premiere Power Corp. covering 330-MW baseload supply to replace the terminated PSA with Sual Power Inc. The transmission charge, meanwhile, for residential customers rose by P0.0264 per kWh due to higher ancillary service charges. Because of the higher generation and transmission charges, taxes and other charges subsequently registered a net increase of P0.0661 per kWh. Universal charges also registered a P0.0261 per kWh increase after the Energy Regulatory Commission (ERC) approved a higher Universal Charge for Missionary Electrification (UC-ME). The UCME went up to P0.2238 per kWh from P0.1977. Meanwhile, the collection of the Feed-In Tariff Allowance (FIT-All), at the rate of P0.0364 per kWh, remains suspended as directed by

the ERC. Pass-through charges for generation and transmission are paid by Meralco to the power suppliers and the grid operator, respectively, while taxes, universal charges, and FIT-All are all remitted to the government. Meralco’s distribution charge has not moved since the P0.0360 per kWh reduction for a typical residential customer beginning August 2022. Last August, Meralco said energy sales volume in July to December could grow by about 5 percent as demand for electricity continues to rise. “We’re projecting close to 5 percent growth for the second half, mainly driven by residential and commercial still,” said Meralco Chief Commercial Officer and First Vice President Ferdinand Geluz. In the first half, energy sales volumes rose by 3 percent to 24,792 gigawatt hours (GWh) from 23,968 GWh. Monthly sales volume breached the 4,000-GWh level since April and reached a high of 4,643 GWh in June. Meralco reported a consolidated core net income of P19.2 billion in the first half, up 47 percent from P13.1 billion realized in the same period last year.

chief executive D

ito Telecommunity Corp. has appointed Ernesto “Eric” R. Alberto as its new president and CEO. Alberto, who held the same position for parent company Dito CME Holdings Corp., replaces Dennis A. Uy who remains chairman of Dito Telecommunity. Dito CME COO Donald Patrick L. Lim is simultaneously appointed as DITO CME president in an acting capacity. “Eric’s wealth of experience in senior capacities in the banking and telecoms sectors spanning several decades, will be very valuable in his new role as Dito Tel CEO. His appointment comes at an opportune time as we continue to maintain the company on a high-growth trajectory,” Uy said. Alberto worked in various industries, including banking and finance and telecommunications. Uy noted that Alberto’s appointment coupled with the recent capital raise, Dito is on the right track to drive further growth into the company. “With the recent equity infusions at the Dito CME level and Dito Tel’s signing of the $3.9-billion long-term project finance facility, we have further confidence in Dito CME and

Dito Tel achieving their business plan targets at the soonest possible time,” Uy said. In September, Dito Telecommunity announced that it has signed a $3.9-billion long-term project finance facility to bankroll its network expansion and refinance some of its debts. Dito’s 15-year project finance facility will be “one of the largest long-term debt arranged and syndicated by a group of multinational banks for a Philippine corporation.” The telco is beefing up its network to support both its mobile and fixed wireless services which Dito claims to have gained traction. As of August, Dito’s average daily activations went up by 15 percent since the government required end users to register their SIMs. Aside from consumers and households, Dito is gunning to penetrate the enterprise segment, targeting to increase its revenue contribution to 18 percent in the next three years. Dito has committed to spend P257 billion over a five-year period from 2020 to build its initial network and provide users with at least 55 Mbps of speed. Part of that commitment is to also cover 84 percent of the population. Lorenz S. Marasigan

Companies BusinessMirror

Thursday, October 12, 2023

NCL includes 3 new PHL ports in cruise itineraries By Ma. Stella F. Arnaldo

Special to the BusinessMirror

he Norwegian Cruise Line (NCL) is returning to the Philippines with several inter-regional cruises, including three new ports of call in the country. In an email to the BusinessMirror, NCL Vice President and Managing Director Ben Angell said, while global destinations have become popular to Asian and Filipino

travelers, they are choosing more voyages “closer to home,” especially within Southeast Asia. “The charm of discovering nearby gems is palpable, and Asia, with

its vibrant cities, diverse culinary scenes, and rich cultural tapestry, remains a top global travel trend for 2023,” he added. The Asian region is a major destination for NCL and continues to be an important source market for tourists. The cruise line has, in fact, “seasonally deployed” more ships in the region, starting with the Norwegian Jewel in the 2023/24 cruise season and the Norwegian Sky, Spirit, and Sun in the 2024/25 season. “As we introduce more itineraries tailored to the tastes and preferences of the Filipino market, we’re optimistic about this continued growth,” he said.

The cruise line will be returning to Asia this month after an absence of three years due to the pandemic, starting with the Norwegian Jewel sailing from Tokyo on October 19, with 14 Asian cruises that last from 11 to 14 days. “In addition, we’ve added five brand-new ports of call in Asia— including Boracay, Puerto Princesa, and Salomague [Ilocos Sur] in the Philippines, together with Hualien in Taiwan and Bintan in Indonesia. This is a testament to the rising number of travelers interested in exploring different destinations through cruising,” said Angell. Continued on B3

BCDA, Zenmov forge transport deal T he Bases Conversion and Development Authority (BCDA) has inked an agreement with Japan-based Zenmov Inc. and Philippine-based MC Metro Transport Operation Inc. for a smart public transportation project.

Under the Memorandum of Agreement (MOA), the two-year project will demonstrate an energy efficient and smart public transportation system that will run within New Clark City in Capas, Tarlac and the rest of Clark

Special Economic Zone. BCDA said a new public transportation system called Primary Rapid Transit, a “last-mile” service, will run in select routes in New Clark City, Clark Freeport Zone, and Clark Civil Aviation Complex

using Smart Mobility Operation Cloud (SMOC). “This application will enable Japan-based information technology [IT] solutions provider Zenmov to measure and verify the effectiveness of the public transport service system, with an aim to maximize operational availability while keeping the number of vehicles at a minimum by managing a lean dispatching system based on travel demand data,” BCDA said in a statement on Wednesday. Andrea E. San Juan

www.businessmirror.com.ph

NGCP aims to finish Batangas-Mindoro link by end-2025 By Lenie Lectura @llectura

he National Grid Corporation of the Philippines (NGCP) on Wednesday said it will do its best to complete the Batangas-Mindoro Interconnection Project (BMIP) by the end of 2025. In a news briefing, NGCP Spokesperson Cynthia Alabanza said the approved project completion date is September 2027, but was fasttracked to December 2025 by the Department of Energy (DOE). “Can it be done? I don’t know. We’ll do our best. It’s a tall order but again we will do our best,” said Alabanza. The DOE recently announced NGCP’s commitment to complete the BMIP in 2025, a mere two years for a major interconnection project. Based on its application, the P14.03-billion interconnection project is estimated to be completed in 50 to 55 months. In other parts of the world, including developed nations such as the United States, Australia and parts of Europe, NGCP said the transmission lines ordinarily require anywhere between 7 to 10 years to build. “We understand and support the direction of the DOE in these and other critical projects. There is zero room for any delay with the usual chokepoints—right-of-way and the issuance of permits from local governments and other gov-

ernment agencies,” NGCP said in a statement. “It’s an almost impossible deadline, but NGCP, as always, will do its best.” The 2027 timeline in its application is already much faster than the global average for completion of transmission projects which normally takes 84 to 120 months, NGCP said. As such, NGCP is calling on concerned national and local government agencies to support the implementation of the BMIP. The grid operator also relayed its concerns to the DOE on the support it needs regarding right-of-way acquisition and processing of permits from local government units and other government agencies. “Assuming that the project incurs no delay in permitting and right of way, and assuming no restraining orders are issued against the project by the courts, the timeline imposed by the DOE is, again, still very tight, even with government support. We will exert all efforts to finish the project at the soonest time possible,” NGCP said. Even before NGCP received approval from the ERC to undertake the project, the company already finished pre-construction activities, such as topographic survey of the submarine cable and cable terminal station sites, marine and hydrographic survey, and route survey for the 230kV and 69kV overhead transmission line portions.

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, October 12, 2023

Ayala sells Manila Water shares SM to open 84th

By VG Cabuag

@villygc

yala Corp. on Wednesday said it has further reduced its ownership in East Zone concessionaire Manila Water Co. Inc. as it sold 10.5 percent of its stake in the utility firm for P5.7 billion.

Ayala along with its wholly-owned subsidiary Philwater Holdings Co. Inc. will sell 288.99 million Manila Water common shares and 436.24 million preferred shares, in a buyback transaction. In its disclosure, Ayala said the said transactions were worth P5.7 billion. Post-transaction, Ayala will retain an effective 23.5-percent voting stake and effective 22.5 percent economic stake in Manila Water. “The sale is aligned with Ayala’s strategy to rationalize its portfolio and raise P50 billion in proceeds. The proceeds will be used to pare down debt and/or fund future investments,” Ayala said.

Manila Water common shares were priced at P17.1647 per share based on a 30-day volume-weighted average price as of October 10, less a 4 percent block discount, aligned with the standard deal structure of block sales. Shares of the company closed at P18.20 on Wednesday. The preferred shares, meanwhile, were priced on a negotiated basis at P1.7165 per share, considering the participation features of such shares to dividends to common shares on a 1/10 basis, the company said. Manila Water provides water treatment, water distribution, sewerage and

sanitation services to more than 7 million people in the eastern side of Metro Manila. The East Zone encompasses 24 cities and municipalities spanning a 1,400-square kilometer area including key cities, towns, and municipalities in Metro Manila. The company, now controlled by Enrique K. Razon Jr., holds the right to provide water and used water services to the East Zone under a concession agreement entered into between the company and the Metropolitan Waterworks and Sewerage System in August 1997. Its concession was extended by another 15 years by MWSS and the Philippine government in 2009, thereby extending the term from May 2022 to May 2037. In June 2021, the Ayala Group ceded control of Manila Water to Razon following an agreement wherein the tycoon bought a 24.96-percent stake but was given voting power for 51 percent of the utility. Last March, Manila Water reported that its earnings rose 61 percent in 2022 to P5.92 billion from the previous year’s P3.67 billion on rising consumer demand. Revenues rose 11 percent to P22.79 billion from the previous year’s P20.53

billion, supported by the recovery of the East Zone’s commercial and industrial accounts, as well as by the 30 percent increase in revenues from Manila Water’s Non-East Zone-Philippines businesses. “Customer demand showed notable recovery with the improved mobility and resumption of economic activities in its service areas. This was shown by the resurgence of its non-residential segments in the East Zone and performance from several of the domestic Non-East Zone businesses,” the company said. Meanwhile, the increase in costs and expenses outpaced revenues with the onset of new, recurring costs. Despite these challenges, the company said it pushed forward with its capital expenditure (capex) projects to ensure prudent compliance with regulatory and service commitments, with group capex increasing 36 percent to P22.4 billion for the year. Consolidated cost of services and expenses went up by 17 percent to P10.8 billion with higher costs in nearly all categories. Fixed costs rose 8 percent, driven primarily by repairs and maintenance costs as postponed activities were resumed.

NCL includes 3 new PHL ports in cruise itineraries Continued from B2

“With its archipelagic nature, the Philippines offers many beautiful ports, and we relish the opportunity to showcase them to

our guests.” Among the major cruises that include the Philippines in the current season is an “inaugural voyage” from Manila, which will take passengers on an 11-day Asian trip

which includes Singapore, the Philippines, and Vietnam and ends in Kuala Lumpur. “Departing on November 30, it will take travelers on an unforgettable journey through the vibrant

markets of Ho Chi Minh City, Vietnam, the multicultural landscapes and towering skyscrapers of Singapore, and the intricate caves of Puerto Princesa in the Philippines,” said Angell.

mall in Laguna S hopping mall operator SM Prime Holdings Inc. will open on Friday its new mall dubbed SM Center San Pedro in Laguna. This is SM Prime’s fourth mall in the province and comes after the opening in recent years of SM City Sta. Rosa, SM City San Pablo and SM City Calamba. SM Center San Pedro is located along U.B. Main Road, Barangay United Bayanihan, San Pedro City, Laguna. “SM Center San Pedro is SM Prime’s 84th mall in the Philippines and is set to provide further opportunity for the company to expand its brand of service and convenience to more Filipinos in the south, specifically in Laguna and nearby towns of Cavite,” Jeffrey Lim, SM Prime, president said. “SM Center San Pedro, with its ideal location, aims to converge business, leisure and entertainment that will enhance economic and civic activities in the area.” The company said the mall will open with almost 90 percent of space lease-awarded sharing three levels of shopping, dining and entertainment hubs including SM Hypermarket, SM Appliance, Ace Hardware, Miniso, Wat-

sons, Simply Shoes, Pet Express and BDO. It will also have SM Foodcourt, Cyberzone, indoor plaza, and parking areas for added convenience and enjoyment. SM Prime recently inked a partnership with LinkedIn to have “a culture of continuous learning” among its employees. Through the SM Digi-U prog r a m , powered b y L i n ked I n Learning, SM employees now have access to curated, on-demand courses, enabling them to thrive in a rapidly changing business landscape. The signing was done back-toback with a hybrid launch event of the SM Digi-U program attended by SM employees. “SM Digi-U powered by LinkedIn Learning is a testament to our continuous commitment to the growth of our people and our relentless drive for innovation and excellence. This partnership with LinkedIn is a perfect fit for our long-standing legacy of innovation, spanning over 65 years,” said Steven Tan, SM Supermalls president. From its soft launch in July 2023, the program has achieved 82 percent activation rate in just one month. VG Cabuag

BusinessMirror

B4 Thursday, October 12, 2023

www.businessmirror.com.ph

Ayala Land receives highest distinction at CREBA’s “Best of the Best Developer of the Decade” Pillar Awards

HE Chamber of Real Estate and Builders’ Associations (CREBA) conferred on Ayala Land, Inc. (ALI) the Exemplary Developer of National Distinction Award at its recently held Pillar Awards ceremony which also marked the 50th anniversary of the CREBA.

Receiving the award for Exemplary Developer of National Distinction from the CREBA Board are former Ayala Land president and now senior adviser to the chairman Bernard Vincent Dy (6th from left) and Makati Development Corporation president Dante Abando (7th from left)

CREBA's Best of the Best Developer of the Decade Awards celebrates excellence in the real estate sector. ALI's selection as the "Exemplary Developer of National Distinction" underscores the company's dedication to pushing the boundaries of innovation, sustainability, and community development. It recognizes ALI's significant achievements in shaping the real estate industry in the Philippines over the past decade and setting the standard for excellence. CREBA said it recognized ALI “not only for having excelled in pioneering development in the field of real

estate, but also for having set an industry-wide standard for excellence that sets it apart from the rest, and shaping the Philippines’ real estate landscape through innovation, sustainability, and a dedication to bettering communities.” ALI's journey to becoming the "Exemplary Developer of National Distinction" has been marked by the company’s pursuit of innovation and commitment to sustainable practices. The company's extensive portfolio of developments includes groundbreaking projects in residential, commercial, leisure and industrial developments

that have not only redefined urban living but have also integrated sustainable design and community-building principles. These initiatives continue to enhance the quality of life for residents and contribute to the broader goal of a greener, more sustainable Philippines. Dr. Nathaniel von Einsiedel, Past President of CREBA and Chairman of the CREBA Developer of the Decade Awards 2023 Committee, explained that the awards are based on the fact that real estate developers play an important role in shaping the built environment and

influencing the way people live, work, and play. “The awards recognize that real estate developers have this crucial impact on society and the world around them. The positive impact can be farreaching for local communities,” said Dr. von Einsiedel. Established in 1973, CREBA is the recognized umbrella organization of some 4,000 firms, individuals and associations directly or indirectly involved in land and housing, construction, allied industries and various professional fields of discipline. Ayala Land celebrates its

35th anniversary this year as it continued to leverage on the economy’s positive momentum to enhance its diversified portfolio. ALI reported higher residential sales reservations in the first semester of 2023 which increased by 18% yearon-year to P58.3 billion, as second-quarter sales reached P30.6 billion, 10% more than the previous quarter. Sales were driven by Alveo’s Park East Place in BGC, AyalaLand Premier’s (ALP) Ciela in Carmona, Cavite, Arcilo in Nuvali, Laguna, and Parklinks South Tower in Quezon City, and Avida Towers Makati

Southpoint. Three new projects with a combined value of P23.3 billion were launched to the market in the second quarter, namely, Alveo’s Park East Place in BGC, the second tranche of Ayala Land Premier’s Arcilo in Nuvali, and Amaia’s Steps The Junction Place Delicia in Quezon City. ALI also recently broke ground for Southmont, the Company’s 51st estate. Located in Silang, Cavite, the 800-hectare master planned community offers residential developments such as ALP’s Lanewood Hills, and Alveo’s Hillside Ridge and Verdea.

www.news.businessmirror@gmail.com

Banking&Finance

Tweak of confidential funds seen a milestone By Jovee Marie N. dela Cruz @joveemarie

‘A

milestone in fiscal responsibility.” This is how policy think tank Infrawatch Philippines described lawmakers’ move to realign P1.23 billion in confidential funds amid public clamor against such use of taxpayers’ money. Last Wednesday, InfraWatch PH Convenor Terry L. Ridon also described the realignment of P1.23 billion in confidential funds as a pivotal moment in Philippine governance. “This is not just fiscal prudence; it’s a political statement. It shows that our lawmakers listen to public sentiment, as any adept government should,” Ridon said. In a bold move, the House Appropriations Committee, chaired by Rep. Elizaldy S. Co, has meticulously eliminated confidential funds for several civilian agencies. These include the Office of the Vice President and the Departments of Education, Agriculture, Information and Communications Technology and Foreign Affairs. “This marks a significant departure from past allocations, where these agencies collectively sought P650 million in confidential funds,” Ridon said. Lawmakers moved to reallocate the funds to frontline agencies responsible for national security and the protection of the country’s territorial rights in the West Philippine Sea. These agencies include the military, the Coast Guard and others tasked with maritime security. The reallocated funds will be used for actionable intelligence, equipment modernization and strengthening territorial boundaries. “The House has shown that it is responsive to both expert input and public sentiment,” Ridon said. The former Kabataan Party-list representative noted that even the government’s socioeconomic secretary, Arsenio E. Balisacan, “has been vocal about the need for limited government funds to be used for productive purposes.” “The House’s decision echoes this sentiment and responds to the public clamor for greater transparency and accountability in using confidential funds,” he added. Ridon said the Lower House has demonstrated its responsiveness to both expert advice and public sentiment.

“The House has set a precedent, but the journey is far from over. The Senate must now take the baton and continue the race,” he said. “The bicameral conference committee is the next critical juncture, and we must remain vigilant. A lot can happen in the bicam meeting, and we must ensure that these realignments are not undone.”

‘Tip of the iceberg’

THE former legislator emphasized that the House of Representatives has realigned only a fraction of the original confidential expense proposal, amounting to P4.86 billion, leaving a substantial P3.63 billion in confidential funds for 2024. Ridon added that while the realignment of P1.23 billion “is a step in the right direction, let’s not lose sight of the bigger picture.” He noted that there is still P3.63 billion in confidential funds and P5.27 billion in intelligence funds for 2024, making it a total of P8.91 billion. “The looming question is: how do we ensure these funds are judiciously used?” Infrawatch PH noted that based on available public records, the government has already spent P88.9 billion in confidential and intelligence funds since 2001; “a very large amount that has long evaded public scrutiny.” Ridon added that the amount could have been invested in infrastructure, education and healthcare. “Congress, which has the constitutional power of the purse, must establish mechanisms to audit and analyze these funds without compromising national security.” InfraWatch PH said it strongly recommends the establishment of a dedicated congressional oversight committee. “We need a specialized committee that can scrutinize these classified budgets without jeopardizing national security,” Ridon insisted. “Increased oversight will lead to greater transparency, which is crucial for a functioning democracy.” “As we move forward, let’s not forget that transparency and accountability are not just ideals; they are imperatives for good governance,” Ridon concluded. “This realignment is a promising start, but it’s just that—a start. We must continue to push for more transparency and accountability in the use of all public funds.”

Fed’s Bowman: Higher rates may be needed

EDERAL Reserve Governor Michelle Bowman said interest rates may need to rise further and stay higher for longer than previously expected to get inflation down to the central bank’s goal. Despite recent improvements, “inflation remains well above the FOMC’s 2 percent target. Domestic spending has continued at a strong pace and the labor market remains tight,” Bowman told an event in Marrakech, Morocco, on the sidelines of the World Bank/International Monetary Fund annual meetings. “This suggests that the policy rate may need to rise further and stay restrictive for some time to return inflation to the FOMC’s goal.” Bowman’s remarks last Wednesday sounded somewhat less hawkish than her comments on October 2, when she said multiple rate hikes would likely be needed to contain price pressures. She didn’t comment on her expectations for the Federal Open Market Committee’s next rate decision on November 1. US central bankers left their benchmark lending rate unchanged last month in a range of 5.25 percent to 5.5 percent—a 22-year high—and signaled they expect one more increase this year. The Fed will release the minutes of the September 19 to

September 20 gathering at 2 p.m. in Washington. Several Fed officials have said in recent days that a surge in long-term Treasury yields may lessen the need for further rate hikes. Investors see a less than 20 percent chance of another quarter-point increase when policymakers next meet, according to pricing in futures markets. Bowman, in answer to a question about the implications of the recent rise in bond yields, said this was just one factor the central bank is monitoring, while indicating that it could be a reason for caution. “Financial market conditions have certainly tightened,” she said. “That allows us a little bit of patience; that we can continue to watch as economic conditions and financial conditions continue to evolve.”

Financial stability

BOWMAN, in her speech, warned that a rising rate environment may erode the credit quality of banks’ balance sheets if the economy weakens. “It is important to monitor these evolving risks and if necessary, take action to minimize the possible spillover effects on the wider banking and financial system,” she said in her remarks, which focused on financial stability risks. Bloomberg News

BusinessMirror

Editor: Dennis D. Estopace • Thursday, October 12, 2023 B2-1

DOF asks MDBs for loans with lower interest rates

By Jasper Emmanuel Y. Arcalas

@jearcalas

MID high interest rate environments and rising borrowing costs, the Department of Finance (DOF) has asked multilateral development banks (MDBs) to extend “more concessional” financing to low and middle-income countries like the Philippines. The United States Agency for International Development defines concessional loans, or soft loans, as having more generous terms than market loans. “These generally include below-market interest rates, grace periods in which the loan recipient is not required to make debt payments for several years or a combination of low interest rates/ grace periods.” A statement issued last Wednes-

day by the DOF quoted Finance Secretary Benjamin E. Diokno as calling for “reforms” and “increased” concessionality in the financial models of the MDBs during the Intergovernmental Group of TwentyFour (G-24) Ministerial Meeting last October 10. The G-24 meeting was the first of a many anticipated engagements by the Philippine delegation led by Diokno during the 2023 Annual Meetings of the World Bank and

International Monetary Fund (WBIMF) in Marrakech, Morocco from October 9 to October 15, according to the DOF. “The response of multilateral development banks to the Covid-19 pandemic and post-pandemic recovery has stretched their lending capacity. This threatens their ability to respond to ongoing crises, including climate-related hazards, food insecurity, public health risks, and learning poverty,” Diokno said during the meeting. The Finance Secretary said the Philippines “appreciate” the “innovative” solutions being employed by the MDBs, including the World Bank, such as guarantee facilities that would “enhance” their lending capacities. “We remain cautious of the potential repercussions of the use of hybrid capital on the borrowing cost of member countries,” he said. “In this context, we welcome the proposed additional measures that could further increase the WB’s financing capacity, especially towards providing concessionality for low and middle-income countries,”

he added. Diokno pointed out that existing concessional resources are insufficient, emphasizing the need for “below-market rates” to middleincome countries. “As rising interest rates and increasing costs of international borrowing are likely to further restrict government budgets and curtail priority investments, MDBs must make available better financing terms,” he said. The DOF chief added that the rapid increase in the level of the Secured Overnight Financing Rate (SOFR) poses “significant risk burdens to IBRD countries such as the Philippines.” Diokno argued that better concessional financing would help countries contribute toward climate justice. “We strongly urge MDBs to increase support for climate change adaptation and mitigation programs and projects, in support of the $4 trillion to $6 trillion investment requirement for the ambitious global transformation to a lowcarbon economy,” he said.

Tax bill seen to cut business’s administrative burden By Butch Fernandez @butchfBM

ENATOR Sherwin T. Gatchalian foresees the administrative burden currently being experienced by micro-enterprises in paying taxes will be drastically reduced by the early enactment of a proposed law assuring “ease of paying taxes” (EOPT). As filed, the Gatchalian bill provides that micro-taxpayers shall not be required to withhold taxes ranging from 1 percent to 15 percent for purchase of goods and services subject to expanded withholding tax (EWT), a process they need to comply with each month for every transaction subject to EWT that they enter into. The Senator explains that aside from eliminating the requirement to withhold taxes, the proposed measure also provides for a reduction of penalties on micro and small enterprises. Gatchalian adds that “these include a reduced rate” of 10 percent for civil penalties as opposed to 25-percent civil penalties for “failure or neglect” to file the correct tax returns and/or failure to pay the correct taxes or deficiencies; a 50-percent reduction on the interest rate in cases when there are deficiencies or delinquencies in the tax due; a reduced fine of P500 as penalty for failure to file certain information returns which originally amounts to Php1,000 for each failure; and, a reduced compromise penalty rate of at least 50 percent for violations on invoicing requirements for VATregistered persons, issuance of sales or commercial invoice and printing of sales or commercial invoice. “As it would eliminate the complexities associated with tax payments, we are confident that this measure will enhance tax compliance, leading to better tax collection and will encourage micro-businesses to register their respective businesses,” Gatchalian said. Consequently, the senator notes that enlisting their businesses with the appropriate government agencies such as the Bureau of Internal Revenue (BIR) would enable these micro-enterprises to avail of loans from financial institutions and grow their businesses. “Sa oras na maisabatas na ito, inaasahang magiging mas madali para sa mga maliliit na negosyante na makapagbayad ng buwis. Tiwala rin tayong makakatulong ito para magkaroon ng mas maraming trabaho ang ating mga kababayan at mapalakas nang husto ang ekonomiya,” said Gatchalian, principal author of the measure and chairperson of the Senate Committee on Ways and Means. [By the time it is enacted, it is expected to be easier for small businessmen to pay taxes. We are also confident that it will help our countrymen have more jobs and boost the economy.] A reconciled version of the proposed Ease of Paying Taxes Act was recently ratified by the Senate, putting the measure an inch away from getting enacted into law.

Banking&Finance

B2-2 Thursday, October 12, 2023 • Editor: Dennis D. Estopace

BusinessMirror

Deposit machines gobble up ₧1 coins; a transaction hits ₧100k

By Cai U. Ordinario

@caiordinario

HE Bangko Sentral ng Pilipinas (BSP) said the highest single transaction in its coin deposit machines (CoDMs) has reached P100,260.

The BSP said the was recorded in one of the 25 CoDMs the central bank has placed in various malls in Metro Manila and Calabarzon. The central bank said P98.8 million worth of coins have been deposited into the machines. This is equivalent to 37.2 million coins collected from 37,000 transactions. “With more CoDMs installed in various retail establishments, the BSP expects

wider public use that will lead to more efficient coin recirculation in the country,” BSP said. Data shared by BSP Deputy Governor Bernadette Romulo-Puyat with reporters last Wednesday showed that the bulk of these coin deposits were in P1 coins reaching 13.61 million pieces and account for 36.63 percent of the total coins collected. This was followed by 25-centavo coins, which reached 9.7 million pieces

representing 26.12 percent of the total coins collected. These coins amounted to P2.43 million. The third coin most deposited in CoDMs were P5 coins, which reached 7.42 million pieces and accounted for 19.97 percent of total coins collected. This amounted to P37.1 million. CoDMs allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their electronic wallets (e-wallets). Coins that can be deposited in CoDMs include the BSP Coin Series and the New Generation Currency Coin Series, composed of 1-, 5-, 10-, and 25-sentimo; and 1-, 5-, 10-, and 20-Piso. The BSP rolled out the CoDMs last June to alleviate what the central bank said is a coin shortage in the country and cut government’s losses in minting coins. Former BSP Governor Felipe M. Medal-

la said the Philippines currently has a problem with coins, given that its coins per capita have more than doubled in less than a decade. There are 39 billion pieces of coins in circulation in the country. At 110 million Pinoys, this translates to around 355 coins per capita which is a 195 percent growth from the 120 coins per capita eight years ago. Medalla has said that since many coins are stored at home, it takes months for them to circulate. He said ideally, coins should change hands at least every week, but because of the informal storage of coins in the country, coin circulation happens twice a year or less. This prompts the BSP to mint additional coins, which can be very expensive. Medalla said the government only spends P7 to print 1,000 peso bills but can spend P10 to make a 20 peso coin.

US a small market for environment-related investment funds

T turns out the market for environmentalrelated investment funds is really small in the US, relative to Europe and even China. Roughly $32 billion was allocated to US climate funds as recently as the end of June, compared with about $447 billion in Europe and $44 billion in China, according to data compiled by Morningstar Inc. “The global picture shows the US is clearly behind its biggest, competing markets,” said

Hortense Bioy, Morningstar’s global director of sustainability research. The US currently represents just 6 percent of climate-fund assets—a pittance given the overall size of the country’s capital markets. A big reason for the poor performance is most of the money has been steered to companies in the solar and wind sectors, a part of the US equity market that’s been battered over the past two years by rising interest rates,

Bioy said. In contrast, she said European funds have attracted investors at a rapid clip, particularly those that concentrate holdings in companies that take the climate crisis into consideration in their business strategies and thus are better prepared for the transition to a low-carbon economy. Simultaneously, regulation has played a prominent role in the proliferation of act ive ly r u n and passively managed climate-

transition funds in Europe following the introduction in 2021 of Paris-aligned and climate-aligned benchmarks, Bioy said. The benchmarks are designed to consider climate-risk mitigation and provide investment options by setting a yearly decarbonization target of at least 7 percent, which is in line with the decarbonization trajectory of the Intergovernmental Panel of Climate Change’s 1.5C scenario. As for China, the country’s commitment to reach peak carbon dioxide emissions by 2030 and carbon neutrality by 2060 has buoyed interest in the asset class. Bloomberg News

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briefs

➜ Biz recertification in Munti ends Friday

MUNTINLUPA entrepreneurs who want a faster and convenient way to recertify their operations still have two days to do so as the Business Permits and Licensing Office Single-Window Transaction (BPLO-SWiT) program runs until October 13. “We encourage businesses to take the opportunity to pay their obligations early and avoid penalties for late payments,” Mayor Rozzano Rufino B. Biazon was quoted in a statement as saying. “With the BPLO-SWiT, we are making tax payments more accessible than ever, so we call on everyone to avoid the rush and possible penalties.” The BPLO-SWiT process takes 10-minutes less than the usual 30 minutes, provided all documentary requirements are complete, the mayor said. Roderick L. Abad

➜ Japan bank set up 2nd panel of probers

THE Custody Bank of Japan Ltd. will set up a second panel of outside lawyers to probe alleged misconduct by its former top executive, according to people familiar with the matter. The move by the bank, whose major shareholders include Sumitomo Mitsui Trust Holdings Inc., came after the regulator deemed the initial investigation conducted by a similar panel in January to be unsatisfactory. In June, the bank said it found improper conduct by an unidentified former top executive and was in contact with authorities for potential criminal offenses. The executive is Yoshikazu Tanaka, who was president of the company until the end of December, Bloomberg has reported. Tanaka has denied any wrongdoing. Bloomberg News

➜ SECB cites corporate bank award

Security Bank Corp. (PSE: SECB) announced it was named “Best Corporate Bank in the Philippines” by Asiamoney, an award-giving publication of London, UK-based Euromoney Institutional Investor PLC, last September 26. In its assessment of SECB’s Corporate Banking Group, the publication noted that the lender “over the last year,… has stepped up efforts to increase market share, innovate and deepen its commitment to social and environmental responsibility.” According to the publication, the lender’s wholesale banking division generated 28 percent of total bank net income in 2022. “The gains were across the board and indicative of a corporate banking team recalibrating the business toward greater growth,” Asiamoney was quoted in the statement SECB issued last week.

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Bankman-Fried knew of Alameda risks, ex-girlfriend Ellison testifies

URORS in the fraud trial of FTX co-founder Sam Bankman-Fried heard his ex-girlfriend Caroline Ellison explain how he allegedly arranged for billions of dollars in customer funds to back risky investments that led to the collapse of the cryptocurrency exchange. Ellison, a math whiz who BankmanFried hired and eventually promoted to chief executive officer of Alameda Research, FTX’s sister trading firm, was the latest star witness and close associate to testify against him since the trial began last week. Ellison, who has pleaded guilty and is cooperating with prosecutors, blamed him for orchestrating the fraud and said she continually warned him that his moves could bankrupt FTX and Alameda. “I thought that Alameda’s financial position was risky, and if the market went down we would lose a lot of money,” Ellison testified. “I was concerned about conveying that information to lenders and worrying about Alameda’s financial health and recalling their loans.” Here are some of the most important details so far from Ellison, who will resume testifying on Wednesday: n ‘Commit Crimes’: Eager and wellprepared in her testimony, Ellison was adamant that Bankman-Fried was complicit in orchestrating a massive fraud at FTX and Alameda Research. “He directed me to commit these crimes,” she said. Ellison pleaded guilty to seven felony counts in December. Bankman-Fried, meanwhile, has denied all allegations against him. n ‘Big Job’: Ellison said she was appointed co-chief executive officer of Alameda despite her concerns that it was a “big job” and she didn’t have enough experience, but Bankman-Fried told her he thought she was the right person for the role. She made $200,000 a year and received bonuses of $100,000 to $20 million, but said she ran all big

decisions about Alameda by BankmanFried and generally deferred to him. Like FTX co-founder Gary Wang, who finished his testimony right before her, Ellison claimed that Bankman-Fried was the ultimate decision-maker within the FTX empire. She said he was fully aware that Alameda was taking FTX customer money and had a practically unlimited credit line on the crypto exchange. Despite publicly distancing himself from Alameda and claiming he did not manage the firm, Ellison said Bankman-Fried directed her on how to handle Alameda’s FTT token holdings and its venture investing, as well as other important business decisions. n Credit Line: She said there were already problems at Alameda when she joined the firm—it had suffered large losses, lenders had pulled money and more than half of the employees quit. Ellison said she wasn’t aware of them until she joined. She said she warned Bankman-Fried on numerous occasions that she was concerned about the way the company was being operated, but that that she was regularly reassured by him. At Bankman-Fried’s direction, Alameda began borrowing from thirdparty crypto funds as well as customer money from FTX, and he’d set up a system for Alameda to borrow from FTX, Ellison testified. She said she concerned to learn about Alameda’s credit line on FTX, which allowed it to withdraw any amount of capital from the platform, even though no other customer had a credit line worth more than $1 billion. When she asked SBF in 2020 whether this line of credit would show up in FTX’s audit, he said, “don’t worry, the auditors aren’t going to look at that,” she testified. n Appetite for Risk: Ellison reviewed in court some of the documents she prepared while leading Alameda about the potential danger of outstanding loans

from crypto lender Genesis and a potential market downturn in digital assets. She said Bankman-Fried frequently dismissed her concerns and had her adjust calculations to make these scenarios more palatable. She said he wanted to move ahead with a $3 billion venture investment despite the major risks it posed to Alameda. She also provided insight into the more than $600 million stake Bankman-Fried acquired in Robinhood in May 2022. Ellison said the stake was paid for by Alameda, but when it came time to disclose the purchase, Bankman-Fried asked to have the equity moved to a different FTX entity because he didn’t want to be publicly associated with Alameda. The acquisition again showed BankmanFried’s continued involvement with Alameda, despite his claims that he had little involvement with the firm. n Raise More Money: Ellison said Bankman-Fried was often looking for ways to raise more money. She said he created FTT, the crypto token native to FTX, with FTX’s business development team to generate funds the way rival crypto exchange Binance had with its own BNB token. Seed investors in FTT bought the token for a mere 10 cents, but its price went up to $1 when it was listed on FTX, eventually rising to $50. Alameda received 60 percent to 70 percent of the tokens prior to it being listed publicly, according to Ellison. She said BankmanFried directed her to put Alameda’s FTT holdings on its balance sheet to get more loans from third-party lenders. He also advised her on when to buy and sell, showing that he still had heavy involvement in Alameda’s decision-making. Ellison said he didn’t want others to know how much say he had in Alameda’s FTT management. Bankman-Fried “at one point got upset at me when I discussed our FTT trading too openly” around other employees, she said. Bloomberg News

Editor: Dennis D. Estopace • Thursday, October 12, 2023 B2-3

IMF caught off guard as China strikes debt deal with Sri Lanka

HINA reached a tentative debt agreement with Sri Lanka, front-running separate talks the International Monetary Fund and other creditors are holding with the South Asian nation and catching them by surprise. The deal between Export-Import Bank of China and Sri Lanka was reached late last month, China’s Foreign Ministry said Tuesday, without providing details of the pact. The IMF, Paris Club members including Japan, and other lenders like India are expected to hold talks this week in Morocco on a debt restructuring plan. China, which isn’t part of that official group even though it’s one of Sri Lanka’s biggest creditors, has been pursuing bilateral negotiations with the South Asian nation instead. Peter Breuer, senior mission chief for Sri Lanka at the IMF, said while it was aware discussions were taking place with creditors, “we have

not yet been informed about any specific agreements.” The multilateral lender would need to “assess the entire package of agreements in its totality to assess consistency with IMF debt targets,” he said. Officials from two creditor nations, who asked not to be identified, said they weren’t informed about the terms and details of the China deal. The preliminary pact is not expected to change efforts by the official creditor committee to try to reach a debt deal in Marrakech, which would include safeguards to prevent favorable payment terms to China, one of the people said. An Indian official involved in the

debt discussions said New Delhi has been pushing for equal and fair treatment in the restructuring plan, and hopes that all creditors are transparent in their approach. Sri Lanka owes about 40 percent of its bilateral debt to China and 16 percent to India, according to estimates from the IMF. Reaching a deal quickly with its creditors will allow Sri Lanka to keep tapping funds from its $3 billion bailout program with the multilateral lender. Sri Lanka’s central bank Governor Nandalal Weerasinghe and Junior Finance Minister Shehan Semasinghe are in Marrakech this week at the IMF and World Bank annual meetings. Semasinghe met with Robert Kaproth, deputy assistant secretary for the US Treasury, he said in a post on social media platform X, with the two discussing the IMF program and the debt restructuring process. “(2/2) We further discussed the IMF programme and the debt restructuring process. It was pleasure to be reassured that the United States government will continue to actively support Sri Lanka,” read Semasinghe’s post on October 11 via @ShehanSema. Bloomberg News

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

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Thursday, October 12, 2023 B3-1

Palestinians scramble for safety as Israel pounds sealed-off Gaza Strip to punish Hamas militants By Josef Federman & Issam Adwan Associated Press

ERUSALEM—Israeli warplanes hammered the Gaza Strip neighborhood by neighborhood Tuesday, reducing buildings to rubble and sending people scrambling to find safety in the tiny, sealed-off territory now suffering severe retaliation for the deadly weekend attack by Hamas militants. Humanitarian groups pleaded for the creation of corridors to get aid into Gaza and warned that hospitals overwhelmed with wounded people were running out of supplies. Israel has stopped entry of food, fuel and medicines into Gaza, and the sole remaining access from Egypt shut down Tuesday after airstrikes hit near the border crossing. The war, which has claimed at least 1,900 lives on both sides, is expected to escalate. The weekend attack that Hamas said was retribution for worsening conditions for Palestinians under Israeli occupation has inflamed Israel’s determination to crush the group’s hold in Gaza. New exchanges of fire over Israel’s northern borders with militants in Lebanon and Syria on Tuesday pointed to the risk of an expanded regional conflict. Hamas militants stormed into Israel on Saturday morning, slaying

hundreds of residents in homes and streets near the Gaza border and bringing gunbattles to Israeli towns for the first time in decades. Hamas and other militant groups in Gaza hold about 150 soldiers and civilians hostage, according to Israel. Israel stepped up its offensive on Tuesday, expanding the mobilization of reservists to 360,000. Israel’s military said it had regained effective control over areas Hamas attacked in its south and of the Gaza border. A looming question is whether Israel will launch a ground assault into Gaza— a 40-kilometer-long (25-mile) strip of land wedged among Israel, Egypt and the Mediterranean Sea that is home to 2.3 million people and has been governed by Hamas since 2007. Rescue officials in Gaza said “large numbers” of people were still trapped under the remnants of leveled buildings, with rescue equipment and ambulances unable to reach the area. On Tuesday, a large part of Gaza City’s Rimal neighborhood was reduced to rubble after hours of airstrikes the night before. Residents found buildings torn in half or demolished to mounds of concrete and rebar. Cars were flattened and trees burned out on residential streets transformed into moonscapes. Palestinian Civil Defense forces pulled Abdullah Musleh out of his basement together with 30 others after their

apartment building was flattened. “I sell toys, not missiles,’’ the 46-year-old said, weeping. “I want to leave Gaza. Why do I have to stay here? I lost my home and my job.” The Israeli military said it struck hundreds of targets in Rimal, an upscale district home to ministries of the Hamas-run government, universities, media organizations and the aid agency offices. In a new tactic, Israel is warning civilians to evacuate neighborhood after neighborhood, and then inflicting devastation, in what could be a prelude to a ground offensive. On Tuesday, the military told residents of the nearby alDaraj neighborhood to evacuate. New explosions soon rocked it and other areas, continuing into the night. Fighter jets returned multiple times to another neighborhood, al-Furqan, striking 450 targets in 24 hours, the Israeli military said. One blast hit Gaza City’s seaport, setting fishing boats aflame. “There is no safe place in Gaza right now. You see decent people being killed every day,” Gaza journalist Hasan Jabar said after three Palestinian journalists were killed in the Rimal bombardment. “I am genuinely afraid for my life.” On Tuesday afternoon, Hamas fired barrages of rockets toward the southern Israeli city of Ashkelon and Tel Aviv. There were no immediate reports of

casualties. On Tuesday night, a group of militants entered an industrial zone in Ashkelon, sparking a gunbattle with Israeli troops, the military said. Three militants were killed, and troops were searching the area for others. Israel’s new tactics could point to its new objective. Four previous rounds of IsraelHamas fighting between 2008 and 2021 all ended inconclusively, with Hamas battered but still in control. This time, Israel’s government is under intense pressure from the public to topple Hamas, a goal considered unachievable in the past because it would require a reoccupation of the Gaza Strip, at least temporarily. “The objective is for this war to end very differently from all of the previous rounds. There has to be a clear victory,” said Chuck Freilich, a former deputy national security adviser in Israel. “Whatever has to be done to fundamentally change the situation will have to be done,” he said. The devastation also sharpened questions about Hamas’ strategy and objectives. Hamas officials have said they planned for all possibilities, including a punishing Israeli escalation. Desperation has grown among Palestinians, many of whom see nothing to lose under unending Israeli control and increasing settlements in the West Bank, a 16-year-long blockade in Gaza

and what they see as the world’s apathy. Hamas may have been counting on the fight to spread to the West Bank and possibly for Lebanon’s Hezbollah to open a front in the north. Days of clashes between rock-throwing Palestinians and Israeli forces in the West Bank have left 15 Palestinians dead, but Israel has clamped down heavily on the territory, preventing movement between communities. The violence also spread into east Jerusalem, where Israeli police said they killed two Palestinians who hurled stones at police late Tuesday. Brief exchanges of fire across Israel’s northern border have taken place nearly daily. Palestinian militants fired rockets into northern Israel from Lebanon and from Syria on Tuesday, each bringing Israeli artillery and mortar fire in return. But so far they have not escalated. In hopes of blunting the bombardment in Gaza, Hamas has threatened to kill one Israeli civilian captive any time Israel targets civilians in their homes in Gaza “without prior warning.” The militants’ attack stunned Israel with a death toll unseen since the 1973 war with Egypt and Syria—and those deaths happened over a longer period of time. It brought horrific scenes of Hamas militants gunning down civilians in their homes, on streets and at a mass outdoor music festival, while dragging men, women and children into captivity.

The Israeli military said more than 1,000 people, including 155 soldiers, have been killed in Israel. In Gaza, 900 people have been killed, including 260 children and 230 women, according to authorities there; Israel says hundreds of Hamas fighters are among them. Thousands have been wounded on both sides. US President Joe Biden said Tuesday at least 14 US citizens were killed in Hamas’ attack and that Americans are among those being held hostage in Gaza. Biden, who spoke earlier in the day with Israeli Prime Minister Benjamin Netanyahu, said “there is no justification for terrorism.” Biden added an apparent warning to Hezbollah, saying, “To any country, any organization, anyone thinking of taking advantage of the situation, I have one word: Don’t.” The State Department announced that Secretary of State Antony Blinken would travel in the coming days to Israel to deliver a message of solidarity and support. Adwan reported from Rafah, Gaza Strip. AP writers Isabel DeBre, Amy Teibel and Julia Frankel in Jerusalem; Wafaa Shurafa in Gaza City; Tia Goldenberg in Tel Aviv, Israel; Bassem Mroue and Kareem Chehayeb in Beirut; Samy Magdy in Cairo; and Amir Vahdat in Tehran, Iran, contributed to this report.

B3-2 Thursday, October 12, 2023

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Russia fails in bid to regain a seat on the UN’s top human rights body By Edith M. Lederer The Associated Press

NITED NATIONS—Russia was defeated in its bid to regain a seat in the UN’s premiere human rights body by a significant majority in Tuesday’s election in the General Assembly, which voted last year to suspend Moscow after its invasion of Ukraine. Russia was competing against Albania and Bulgaria for two seats on the Geneva-based Human Rights Council representing the East European regional group. In the secret ballot vote, Bulgaria got 160 votes, Albania received 123 votes and Russia just 83 votes. Russia has claimed that it has support from a silent majority, and even though 83 votes came from less than half the 193 UN member nations, there is certain to be a concern, especially by Ukraine and its Western allies, that Moscow’s support was that high. “I think the Russians will be pleased that they persuaded a sizable minority of UN members to back them (which) suggests that Moscow is not a total pariah in the UN system, despite repeated Western criticism,” Richard Gowan, UN director of the International Crisis Group, told The Associated Press. “That said, the US and Ukraine’s allies were still able to ensure that Albania and Bulgaria swept the contest for two seats. So, Kyiv’s friends still have a solid majority in the assembly.” The only other competitive race

was in the Latin America and Caribbean group where Cuba, Brazil, and the Dominican Republic defeated Peru for three seats. New York-based Human Rights Watch said Cuba didn’t deserve a place on the council because of systematic rights violations including harassment, arbitrary detention, and torture of dissidents but Cuba got the highest number of votes of the four countries—146. The other closely watched race was in the Asia group where four countries—China, Japan, Kuwait and Indonesia—were candidates for four seats. Some rights groups also campaigned against Beijing and the size of the vote was closely watched. Indonesia topped the ballot with 186 votes followed by Kuwait with 183 votes and Japan with 175. China was last with 154 votes. Human Rights Watch said last week that China’s rights record should disqualify it from the Human Rights Council. It pointed to last year’s report by the office of the UN human rights commissioner, which said China’s discriminatory detention of Uyghurs and other mostly Muslim ethnic groups in the western region of Xinjiang may constitute crimes against humanity. Two other regional races were also not competitive. For the four African seats, Malawi got 182 votes followed by Ivory Coast with 181 and Ghana with 179. Burundi, whose rights record was also strongly criticized by Human Rights Watch, was last with 168 votes.

UKRAINIAN Ambassador to the United Nations Sergiy Kyslytsya, left, shuffles papers as he listens to Vassily Nebenzia, Permanent Representative of Russia to the United Nations, during a meeting of the UN Security Council as the war in Ukraine and recent attacks by Russia were discussed on Monday, October 9, 2023, at United Nations headquarters. AP/CRAIG RUTTLE

The two Western seats were also uncontested, and the Netherlands topped France with 169 votes compared to 153 votes. General Assembly President Dennis Francis, who announced the results, congratulated the 15 winners, who will join the Human Rights Council on January 1. Louis Charbonneau, Human Rights Watch’s UN director, said: “UN member states sent a strong signal to Russia’s leadership that a government responsible for countless war crimes and crimes against humanity doesn’t belong on the Human Rights Council.” “But because two regional slates lacked competition, China and Burundi will be joining the council next year alongside Cuba. Their abysmal rights records should have disqualified them,” he said, adding that China’s last-place finish suggests that

if the Asia race was competitive it would have lost. But the spotlight in this election was on Russia and its campaign to get back on the Human Rights Council. M o s c o w ’s U N a m b a s s a d o r, Vassi ly Nebenzia, accused t he United States on Monday of leading a campaign to prevent their return to the council. “The main phobia of our American colleagues today is electing Russia to the Human Rights Council,” Nebenzia told a Security Council meeting called by Ukraine on last week’s strike by a Russian missile on a Ukrainian soldier’s wake in a small village that killed 52 people. The United States and others sent letters to many of the 193 members of the General Assembly urging a vote against Russia, according to diplomats. Felice Gaer, director of

the American Jewish Committee’s Jacob Blaustein Institute for the Advancement of Human Rights, was among the non-government letterwriters also urging Russia’s defeat. At Monday’s council meeting, Albania’s UN Ambassador Ferit Hoxha also urged those who care about human rights and “the credibility of the Human Rights Council and its work” to oppose a country that kills innocent people, destroys civilian infrastructure, ports and grain silos “and then takes pride in doing so.” US deputy ambassador, Robert Wood told the Security Council that Russia’s re-election to the Human Rights Council “while it openly continues to commit war crimes and other atrocities would be an ugly stain that would undermine the credibility of the institution and the United Nations.” In April 2022, less than two months after Russia’s invasion of Ukraine, the General Assembly voted 93-24 with 58 abstentions on a US-initiated resolution to suspend Russia from the Human Rights Council over allegations that its soldiers in Ukraine engaged in rights violations that the US and Ukraine called war crimes. Human Rights Watch last week urged UN members to deny a seat on the rights council to Russia, saying its forces in Ukraine continue to commit apparent war crimes, including unlawful attacks, and crimes against humanity such as torture and summary executions. President Vladimir Putin and his children’s rights commissioner are also sought

by the International Criminal Court for the unlawful deportation of Ukrainian children, it said. The Human Rights Council was created in 2006 to replace a commission discredited because of some members’ poor rights records. But the new council soon came to face similar criticism, including that rights abusers sought seats to protect themselves and their allies. The council reviews the human rights records of all countries periodically, appoints independent investigators to examine and report on issues like torture and situations in countries like North Korea and Iran. It also sends fact-finding missions to investigate rights violations, including in Ukraine. Under the council’s rules, its 47 seats are allocated to regional groups to ensure geographical representation. Members are elected yearly by the General Assembly for staggered three-year terms that begin January 1. In last year’s election, Venezuela, South Korea and Afghanistan lost contested races, but countries including Vietnam and Sudan, which have been accused of having abysmal human rights records, won seats. UN deputy spokesman Farhan Haq said the United Nations believes all countries elected to the Human Rights Council this year “have therefore earned their right to be there.” “They then need to show and demonstrate while they’re on the Human Rights Council their respect for human rights,” he said.

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Having ousted McCarthy, House Republicans have trouble trying to nominate new speaker By Lisa Mascaro & Kevin Freking

The Associated Press

ASHINGTON—Stalemated over a new House speaker, the Republican majority is scheduled to convene behind closed doors to launch internal party voting but lawmakers warn it could take hours, if not days, to unite behind a nominee after Kevin McCarthy’s ouster. The two leading contenders Wednesday for the gavel, Majority Leader Steve Scalise and Judiciary Committee Chairman Jim Jordan, appear to be splitting the vote among their Republican colleagues. They outlined their visions at a lengthy candidate forum ahead of the private balloting. McCarthy, meanwhile, who had openly positioned himself to reclaim the job he just lost, told his colleagues not to nominate him this time. Instead, at Tuesday’s late evening candidate forum, he read a poem from Mother Teresa and delivered a unity prayer. “I don’t know how the hell you get to 218,” Rep. Troy Nehls, R-Texas, said afterward, referring to the majority vote typically needed to seize the gavel. “It could be a long week.” House Republicans took the majority aspiring to operate as a team, and run government more like a business, but have drifted far from that goal. Just 10 months in power, the historic ouster of their House speaker—a first in the US—and prolonged infighting has brought the House to a standstill at a time of crisis at home and abroad. Now, as House Republicans push ahead toward snap elections Wednesday aimed at finding a new nominee for speaker, the hard-right coalition of lawmakers that ousted McCarthy has shown what an oversized role

a few lawmakers can have in choosing the successor. “I am not thrilled with either choice right now,”said Rep. Ken Buck, a Colorado Republican who voted to oust McCarthy. Both Scalise and Jordan are working furiously to shore up support. Both are easily winning over dozens of supporters and could win a majority of the 221 Republicans. But it’s unclear if either Scalise or Jordan can amass the votes that would be needed from almost all Republicans to overcome opposition from Democrats during a floor vote in the narrowly split House. Usually, the majority needed would be 218 votes in the 435-seat House, but there are currently two vacancies, dropping the threshold to 217. Many Republicans want to prevent the spectacle of a messy House floor fight like the grueling January brawl when McCarthy became speaker. “People are not comfortable going to the floor with a simple majority and then having C-SPAN and the rest of the world watch as we have this fight,” said Rep. Kat Cammack, R-Fla. “We want to have this family fight behind closed doors.” Some have proposed a rules change that Rep. Patrick McHenry, R-N.C., the interim speaker pro tempore, is considering to ensure a majority vote during closed balloting Wednesday before the nominee is presented for a full floor vote. McCarthy himself appeared to agree with a consensus approach. “They shouldn’t come out of there until they decide that they have enough votes for whoever they bring to the floor,” McCarthy said. The Associated Press writers Farnoush Amiri and Stephen Groves contributed to this report.

Thursday, October 12, 2023 B3-3

Ukraine’s Zelenskyy at Nato defense ministers meeting seeking more support to fight Russia By Lorne Cook & Lolita Baldor

The Associated Press

RUSSELS—Ukraine President Volodymyr Zelenskyy arrived at Nato for Wednesday’s meetings with alliance defense ministers to further drum up support for Ukraine’s fight against Russia. “It’s very important that there are priorities. There are air defense systems. These are not just basic words. These are very concrete things and we need them,” Zelenskyy said on arrival, insisting that long-range missiles were just as essential. He also called for more ammunition,

making for the three types of military aid he was looking for. The US is hosting a meeting of the Ukraine contact group to seek more weapons and ammunition for the war-ravaged country. Nato allies and partner countries will be waiting to hear precisely what kinds of military equipment Kyiv needs. Following that meeting, the 31 allies and Ukraine will take part in the first Nato-Ukraine Council at this level. The forum was formally established in July as part of efforts to bring Kyiv closer to the alliance. It allows Nato and Kyiv to discuss issues of common interest and concern. US Defense Secretary Lloyd Aus-

tin told reporters traveling with him to Brussels that a number of allies will announce they are sending additional weapons and other support to Kyiv. A key demand has been more air defense systems and munitions. “The energy, in my view, is still there,” said Austin. “And I will reassure them that we are we remain committed to this.” The meeting comes as Ukraine is desperately seeking more weapons to help its troops regain ground from Russian forces before the muddy weather sets in. But political chaos in Congress and divisions over continued Ukraine funding combined with new pressure to provide US weapons to Israel fuel uncertainty

and will likely dominate many of the conversations. According to a US official, the new package of US aid includes AIM9M missiles for air defense, counter-drone systems, munitions for the High Mobility Artillery Rocket System (HIMARS), artillery, electronic warfare equipment, demolition munitions, anti-armor systems and more than 16 million rounds of small arms ammunition. The weapons are provided under presidential drawdown authority, so will be taken from Pentagon stocks and delivered quickly to the battlefield. The official spoke on condition of anonymity to discuss the aid before the official announcement.

Myanmar military accused of bombing displaced persons’ camp in northern state, killing about 30 By Grant Peck

The Associated Press

ANGKOK—Myanmar’s military has been accused of launching an airstrike on a camp for displaced persons in the northern state of Kachin that killed about 30 people, including about a dozen children, Kachin militants and activists and local media said Tuesday. Myanmar has been in turmoil since the military overthrew the elected government of Aung San Suu Kyi in February 2021, triggering widespread popular opposition. After peaceful demonstrations were put down with lethal force, many opponents of

military rule took up arms, and large parts of the country are now embroiled in conflict. Col. Naw Bu, a spokesperson for the Kachin Independence Army, said 29 people including 11 children under the age of 16 were killed and 57 others injured in the attacks carried out by air and artillery late Monday. The casualties occurred at the Mung Lai Hkyet displacement camp in the northern part of Laiza, a town where the headquarters of the rebel KIA is based, about 324 kilometers (200 miles) northeast of Mandalay, Myanmar’s second-biggest city. A spokesperson for Kachin Human Rights Watch gave slightly different figures, saying

19 adults and 13 children were killed in the attack, which occurred shortly before midnight. The military government in the past year has stepped up the use of airstrikes in combat against two enemies: the armed pro-democracy Peoples Defense Forces, which formed after the 2021 takeover, and ethnic minority guerrilla groups such as the Kachin that have been fighting for greater autonomy for decades. A spokesperson for United Nations Secretary-General António Guterres expressed alarm at the reports of killings and said he “condemns all forms of violence, including the military’s intensifying attacks throughout

the country, which continue to fuel regional instability.” Myanmar’s National Unity Government, the main nationwide opposition group that considers itself the country’s legitimate administrative body, said a kindergarten, school, church and many civilian houses were destroyed at the camp. “This deliberate and targeted attack by the terrorist military council on civilians fleeing conflict constitutes a blatant crime against humanity and war crime,” it said. AP writers Edith M. Lederer at the United Nations and Matt Lee in Washington contributed to this report.

B3-4 Thursday, October 12, 2023

The World BusinessMirror

www.businessmirror.com.ph

India carries out more raids on news outlet critical of Modi By Shruti Srivastava & Swati Gupta

N Indian crime investigating agency raided the office of an online news portal and the home of its founder, according to people familiar with the matter, as a crackdown intensifies against a media outlet critical of Prime Minister Narendra Modi.

Officials from the Central Bureau of Investigation raided NewsClick’s office and founder Prabir Purkayastha’s home in New Delhi on Wednesday morning, said the people who asked not to be identified, as the matter is sensitive. The agency filed a case against the media outlet on allegations of improper foreign funding, they added. The Press Trust of India first re-

ported on the raid. This second round comes after local police searched the NewsClick office and homes of reporters last week. Purkayastha and another employee were arrested under sweeping anti-terrorism laws and have remained under custody since. India has used investigative agencies and a raft of laws, including antiterrorism, to intimidate and punish reporters since Modi took office nearly

a decade ago. The South Asian nation fell to 161st of 180 countries and territories in a 2023 press freedom ranking by Reporters Without Borders, a press advocacy group. A CBI spokesman declined to comment. India previously accused NewsClick of having funding ties to China, which it denies. NewsClick came into prominence two years ago with its reporting of

the farmer protests against government plans to liberalize the agriculture sector, the clashes between the Hindus and Muslims in Delhi, and India’s response to the pandemic. In 2021, t he aut hor it ies ra ided NewsClick ’s office and the homes of seven staff members for what they described as improper foreign investments. The online publication called the

allegations at the time “misleading, unfounded and without basis in fact or law.” This year, the New York Times described NewsClick as an organization allegedly being used for Chinese propaganda overseas. India’s Information and Broadcasting Minister Anurag Thakur said at the time the media outlet was being funded by Beijing. Bloomberg News

By Jun Lomibao

S a kid, my very first bike was a cross between the utility bicycle of the 1970s used by its rider to deliver newspapers or sell pandesal and those called “easy riders” complete with tussles and a back rest—the handle bars were also unique with their U-shaped designs. Fast forward to the 1990s when the mountain bike was the in thing for riders. I had one made of steel and man, was it heavy. I repainted the frame from yellow and then light blue—prompting a neighbor to egg me that my bike could be useful for the MMDA’s blue-uniformed traffic enforcers. My MTB wasn’t state-of-the-art, it was simply a bike, one that can get me around, give out a sweat and go where ever I wished especially on roads where the four-wheeled kind get stuck in snail-paced traffic all the time. Fast forward to the 2000s when I got seriously involved in cycling, having been elected as a board member of the national sports association for cycling known by its alias PhilCycling. I vigorously helped organize the return of the fabled Tour of Luzon, handled and managed the national cycling team, attended major competitions abroad, and even got schooled in a commissaires’ course in Aigle, Switzerland, home base of the sport’s world governing body UCI for International Cycling Union. And because I got hooked with the road discipline of cycling, it was out with the MTB in favor of the road bike—that bicycle called racers in the past. I cycled as often as I could, particularly on weekends and days off. I actually preferred the outdoors on my bike than the cool but enclosed edifice called the malls. I sweat, I had mud and dust all over, especially on my back—I abhor mud pads or protectors—and I smelled like the sun and earth combined after every ride. I also was a soloist in the sense that I have this love for speed. I don’t join clubs for the simple reason that joining one means dozens of stopovers for merienda or lunch or a refreshing buko juice. Then came Covid. All are stuck at home. No cars on the streets. No buses or jeepneys. But I had my bike with me, a road bike—a mediumsized frame though that I looked like I’m pedaling a BMX.

I want to ride my bicycle, I want to ride my bike...

Sports BusinessMirror

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hursday, October 12, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THERE’S something about cycling that makes one appreciate the outdoor and the importance of being healthy—this photo was taken atop Daang Kalisasan, a highway carved on the hills of Mangatarem that connects the provinces of Pangasinan and Zambales. JUN LOMIBAO Lucky for me, my job privileged me an APOR—Authorized Person Outside of Residence—ID card. So off to the deserted streets and even EDSA I biked with, yes, authority. And the rest is cycling history, so

to speak, of the post-pandemic era. The government allowed cycling to be the logical mode of transportation during the pandemic because first and foremost, you’re alone when you bike and social distancing is practiced

on the road and pedaling promotes a healthy body. Thousands of Filipinos took to cycling like they took on the mobile phone, doing nothing else but look down on their gadgets scrolling no end.

The bicycle offered relief from the months of lockdown. People on bikes agree they’ve never felt healthier. A regular routine on bikes—going to and from the office, running errands or simply enjoying the view in the

company of friends and relatives— produced instant health buffs. There are actually no accurate statistics on how many bicycles were sold in late 2020 and the entire 2021, but just by looking around, the bicycle boom hit town—viral. With the BusinessMirror “Coming of Age” in the paper’s 18th year anniversary, and so do many who embraced the bicycle as if their lives and health depended on the two-wheeled equipment that drew one of great phrases from one great mind, Albert Einstein, who said “Life is like riding a bicycle. To keep your balance, you must keep moving.” Cycling for me is on a par with swimming—but doing laps in a pool means you need to have a swimming pool, while in cycling, all you need is a bike. And road bikes are the best, they give you optimum control and in the advent of the carbon frames, makes cycling so easier…they make you a star on the road, too, as kids tend to call your attention when they recognize a carbon frame by saying “Carbon…loading!” Amid the bicycle boom, I got this one chance to take a ride around Manila with BusinessMirror lensmen—hepe Nonie Reyes, Roy Domingo and ex-BM photographer Rhoy Cobilla, along with IT man Obet Rea. It was fun, we got to tour MOA and had lunch in Binondo. The not-so-fun part, however, was they’re too slow, not my kind of pace—read back and you’ll see why…I love speed. I have yet to ride again with these guys although going solo—read back once more—is my kind of thing. I have been to as far north as Pagudpud with my Giant, got to ride Vigan’s cobbles, toured my native Dagupan City several times, got to explore towns in Pangasinan eventually learning that they’re actually not so distant from each other. In the Metro, my route’s always been Marikina and the western most part of Pasig City. Twice or thrice a week’s a ride to remember and savor. Never mind the belchers and the traffic with cars and motorcycles “sharing” the road by breaching the unprotected bicycle lanes. It’s always been fun riding a bike. Like a boy getting extremely excited about a basketball for his birthday or a bicycle for his graduation, that’s how I see my bike. I’m coming of age—three years ahead of my senior citizenship—but Giant’s been good to me—he keeps me going.

Spo

Business

Thursday, October 12, 2023 | mirror_sports@yahoo.com.ph

Document shows PSC’s not telling the truth–POC By Josef Ramos

HE Philippine Olympic Committee (POC) pulled an ace from its sleeve on Wednesday and hit the Philippine Sports Commission (PSC) anew for claiming that it didn’t have a hand in the Commission on Audit (COA) sending

a demand letter asking the organization to liquidate a P10-million financial assistance that was released 25 years ago. POC president Rep. Abraham “Bambol” Tolentino said that an Affidavit of Undertaking for the release of funds for the recent 19th Asian Games had a provision for the POC to liquidate P13.2 million—including the P10 million for the Bangkok 10th Asian Games funds—in order to release the funds for the Hangzhou campaign. “The Affidavit of Undertaking was sent to us weeks before the Asian Games started, or before the PSC and COA sent that demand letter late September 20,” Tolentino said. “Therefore, who’s telling the truth here?” PSC chairman Richard “Dickie” Bachmann told in his press conference on Tuesday that it’s the COA, and not the government sports agency, that asked the POC to liquidate P13.2 mil-

lion within a five-day window. “It’s very clear in that affidavit that indeed, the PSC knew it all along,” Tolentino said. Tolentino said over the weekend in Hangzhou that he and the POC advanced payments to airlines, particularly Cathay Pacific, because of the urgency to book flights for the close to 400-athlete delegation. “Time was running out in booking the flights so I and the POC diligently took the logical initiative to advance payments in order to guarantee that our athletes are flying to Hangzhou,” he said. “We started booking flights in the absence of a clear guarantee from the PSC only 10 days before the Asian Games.” Tolentino said the demand letter’s intent was “malicious and distractive” and that it was timed at a time when Team Philippines was about to start competing in Hangzhou. Provision No. 6 of the undertak-

ing stated “I also acknowledge that as per the records of the PSC Accounting Division as of 30 August 2023, herein attached as ‘Annex A,’ POC has prior unliquidated financial assistance amounting to Thirteen Million Two Hundred Thirty-eight Thousand Twenty Pesos and Fifty Centavos [P13,238,020.50].” Besides the P10 million, the PSC asked the POC to liquidate P2.6 million for the “payment of expenses for delegation members not included in previous approved list of PSC for the 31st Southeast Asian Games in Hanoi, Vietnam, under BR No. 755-2022” and P663,000 “for the purchase of equipment/uniforms for the Philippine Swimming Team for the 32nd SEAG per BR No. 648-2023.” “Those [P2.6 million and P663,000] we will liquidate, the documents are being completed,” Tolentino said. “But not the P10 million.”

JOC, Sapporo abandon bid for 2030 Winter Games TOKYO—Officials from Sapporo and the Japanese Olympic Committee (JOC) on Wednesday announced a decision to withdraw the northern Japanese city as a candidate to host the 2030 Winter Olympics, with the effort soiled by massive corruption and bid-rigging tied to the one-year delayed Tokyo Games.

Sapporo Mayor Katsuhiro Akimoto and JOC President Yasuhiro Yamashita, at a joint news conference in Tokyo, said they are withdrawing because of the lack of support from the citizens whose trust was largely lost because of the 2020 Tokyo Olympic corruption cases that erupted last year.

“We could not gain understanding from the citizens,” Akimoto told reporters. “There has been a widespread sense of uneasiness among the citizens about the criminal cases related to the 2020 Tokyo Games, and they are also worried about their financial burden for hosting the games.” AP

A COMMUTER leaves a train station adorned with posters promoting the Tokyo 2020 Olympics in Tokyo on March 23, 2020. AP

Executive guilty in Tokyo 2020 scandal

OKYO—An executive at Japanese publishing house Kadokawa was found guilty Tuesday of bribing a former Tokyo Olympics organizing committee member. Toshiyuki Yoshihara, charged with paying 69 million yen ($463,000) to Haruyuki Takahashi, was given a two-year prison sentence, suspended for four years. That means he avoids prison, as long as he doesn’t break the law in the next four years. Tokyo District Court Presiding Judge Yoshihisa Nakao said Yoshihara wanted Kadokawa to have an edge in becoming a sponsor, which he believed would enhance its brand power. “The belief in the fairness of the Games has been damaged,” Nakao said, stressing Yoshihara knew the payments were illegal and sought to disguise them as consulting fees. The punishment was suspended because Yoshihara had expressed remorse, and his wife had promised to watch over him, Nakao said. Yoshihara said, “Yes,” once, in accepting the verdict, but otherwise

said nothing, and bowed repeatedly as he left the courtroom. The verdict for Yoshihara, arrested last year, was the latest in a series of bribery trials over sponsorships and licensing for products for the Tokyo Games. Kadokawa Group was chosen as a sponsor and published the Games program and guidebooks. The ballooning scandal has marred the Olympic image in Japan, denting Sapporo’s bid for the 2030 Winter Games. An official announcement on the bid is expected Wednesday, after the mayor meets with Japanese Olympic Committee President Yasuhiro Yamashita, a judo gold medalist and International Olympic Committee (IOC) member, a Sapporo city official said. At the center of the scandal is Takahashi, a former executive at advertising company Dentsu, who joined the Tokyo Olympic organizing committee in 2014, and had great influence in arranging sponsorships for the Games. Takahashi says he is innocent. His trial is yet to begin. AP

Unpredictable UAAP Season 86

JUST two weeks into the new season of the University Athletic Association of the Philippines (UAAP), the league is already living up to its reputation of being interesting, intriguing and unpredictable. With quadruple headers in both men’s and women’s tournaments serving up buffet fare for fans and faithful, unexpected scenarios have played out to fascinate and surprise. Tearjerkers some, cliffhangers others, all are amazing tales of individual team journeys coming to life on the court. Filled with drama and jaw dropping outcomes, unlikely scenarios and stunning end games, these are what make collegiate sports addictive to fans. Like who would have thought the Far Eastern University (FEU) Tamaraws and the University of Santo Tomas (UST) Growling Tigers are currently at the bottom of the standings. Both teams have proud traditions in the UA AP and have been the classic top dogs of tournaments past. UST played most recently in the Season 81 (2018) men’s basketball Finals and has always been a dominant force in the league. FEU has been an erstwhile member of the Final Four cast, if not the finals itself. Its last championship was in Season 78 (2015), curiously fought against UST. But this season, both teams have been hugging the bottom, with FEU falling further into a 0-4 hole as of this writing. UST, currently 0-3, needs to win over National University (NU) in its October 11 encounter. Or else it will continue to keep FEU company in the cellar. Who would have thought the defending champs the Ateneo Blue Eagles would bow to NU on opening day, come back strong against De La Salle University in their early first round clash, then succumb to the Adamson Soaring Falcons over the weekend in totally heartbreaking fashion? With both teams then standing at 1-1, the surging Ateneans looked like they would pluck out falcon feathers all day in their Battle of the Birds. They completely dominated their fellow bird of prey in the first three quarters and were expected to go 2-1. But came the fourth. The plucky Falcons kept their poise, nipped at

the Eagles’ tails and soared high to earn their piece of sky. Matthew Montebon managed an uncontested three that forced overtime. Then a siege ensued. Both teams managed to shoot two points apiece during OT and the scoreboard froze at 71-all for almost the full five minutes. Then it happened. With 3.3 left on the clock, Vince Magbuhos heaved a Hail Mary shot over the Hail Mary quintet. And hit gold. Banggg! For almost every minute of the contest, it was Eagles over Falcons. But that Magbuhos three changed everything. And stunned the world. Who would have thought the University of the East (UE) Red Warriors would pull the rug from under the feet of the raging FEU Tamaraws that same quadruple weekend? Like the Eagles, the Tamaraws were toying with the Warriors for the most part of the game. Then again in the fourth, with FEU up by 14, UE’s Gjerard Wilson and Noy Remogat conspired to make a run that would end all runs in the UAAP so far. A seemingly possessed Warriors team pulled off an incredible 22-0 blitz that totally disoriented the Tams and froze them in their paths. This was a tearjerker of a game for the FEU side, make no bones about it. Who would have thought too that the UP women’s basketball team would conquer the defending champs and most decorated women’s team, the NU Lady Bulldogs in their own battle of the undefeated last Sunday, October 8 at the UST Quadricentennial Gym? With both teams sporting a 2-2 record, the Fighting Maroons played with a fervor and focus that made them tame the Bulldogs, overpowering them with formidable defense and accurate shooting. How could last year’s 6-8 team beat a 13-1 team that had established a seven-year dynasty of UA AP women’s basketball championships? But that’s the UA AP for you. In the same light, who would have thought the UP Fighting Maroons—both men’s and women’s teams—now ride atop the standings of their respective divisions? Both are sporting 4-0 records after winning over their counterparts from ADU, UE, NU and FEU. The UPMBT again frustrated the FEU Tamaraws in their game yesterday—in overtime. Janjan Felicilda and Malick Diouf sealed the deal at the last minute in a game that could have been FEU’s first win. Similarly, the UPWBT led by Gilas stalwart Louna Ozar also squeaked past the FEU women’s team, 64-61. UP’s Malick Diouf and Favour Onoh were recently chosen as the first Men and Women Players of the Week by the collegiate press corps. This is definitely a new experience for UP. And simply unthinkable in the past.

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Editor: Jun Lomibao | Thursday, October 12, 2023 C3

Petecio relentless for Paris Olympics

ESTHY PETECIO’S not giving up hope on her dream to win a Olympic gold medal. “Not until the 2024 Olympics start, I’ll always focus on qualifying for Paris,” said the 21-year-old Petecio, a silver medalist in women’s boxing in Tokyo 2020. “I have been learning from my mistakes,” added Petecio, referring to his muffed campaign in last month’s Hangzhou Asian Games where he exited after her first fight. Petecio and Carlo Paalam, also a silver medalist in Tokyo, also failed to qualify for Paris through the Hangzhou Asiad where only the finalists in the boxing competitions get automatic Olympic berths. Only Eumir Felix Marcial, who clinched bronze in Tokyo, did that when he settled for a silver medal in men’s light heavyweight. Tops on Petecio’s calendar is the first Olympic qualifier in Busto Arsizio near Milan in Italy from February 29 to March 12. She has another chance—her last—at the world championships in Bangkok from May 23 to June 3. “I have to improve every skill in my body, from my footwork to power, and speed as well,” Petecio said. “I will give it my best as long as there’s still a chance.” She lost to top-ranked Taiwanese Lin Yu Ting, 4-1, in the preliminary round in Hangzhou. “I was beaten, Icouldn’t catch up,” said Petecio, a two0time Southeast Asian Games champion. “That’s why I’m resting for now then I will be back in full training and conditioning after the All Souls.” Rest from the ring also means active duty for Petecio at the Philippine Coast Guard. Josef Ramos

ERNEST JOHN “EJ” OBIENA (left) poses with his silver medal with (from left) gold winner Armand Duplantis and co-bronze medalists American Chris Nielsen and Australian Kurtus Marschall during the medal ceremony at the world championships in Budapest.

NESTHY PETECIO says she has learned from her mistakes in Hangzhou.

By Josef Ramos

RIENDS off the field and rivals on it. That’s how Ernest John “EJ” Obiena and men’s pole vault wonder Armand “Mondo” Duplantis treat each other. “He’s a good friend,” Obiena said of two-time world champion and record holder Duplantis, who always congratulates him each time they face each other in a competition or Obiena’s on the podium and he’s not. “He is an amazing athlete and great person, all praises for him,” Obiena said. “He elevated the sports to a certain level, never imagined by anybody at this point.” Obiena, Duplantis and the rest of the world’s elite in men’s pole vault are buddies. They train together, share jokes together but buckle down to serious work when they’re competing—against each other. And it’s no wonder that all of them, Obiena included, has painted an imaginary target on Duplantis’s back, something the Swede fully knows. “Do I think I can beat him

EJ on beating Duplantis: I do think so

[Duplantis]?” the 27-year-old Obiena said. “I do think so that’s why I’m still training…but I have a lot of things to work on—and we should.” “All I think about is trying to improve and close that gap,” he added. Close the gap means Obiena must go over 6.0 meters, a height he already cleared twice, to be able to pull the rug from under Duplantis’s 6.23 meters world record he set last month. Obiena came close to beating beating the 23-year-old Duplantis during the world championships in Budapest last August. He cleared 6.0 meters on his second try but Duplantis was in his element and jumped 6.10m. Duplantis won gold and Obiena got silver, the best finish by a Filipino and an Asian in the worlds. Obiena has no plans looking at Duplantis from any other perspective except from a point of view that he’s a motivation. “He elevated pole vaulting to a higher level,” Obiena said. Obiena’s been a consistent podium finisher this season. He’s been on the podium 22 times in 24 tournaments

he competed in, including his gold medal-clinching and Asian Games record performance in Hangzhou two weeks ago. He’s still in town for a brief vacation while tending to lucrative sponsorship deals while smiling his way to the bank with millions of bonuses tucked in his belt. A Dubai stop is on his schedule before he returns to home base Formia in Italy to reconcile with his world championship team led by the legendary Ukranian coach and trainer Vitaly Petrov. Six meters is on Obiena’s mind as he embarks on an almost yearlong preparation for his second straight Olympic stint in Paris. “Pole vaulting is a complicated sport that’s why you need all the adrenaline so you can really jump bigger stick in training, it’s hard,” he said. “Maybe if I do jump 6 meters in training [most of the time], maybe I can jump 6.23…so let’s see.” Obiena’s the first Filipino to qualify for Paris after he cleared the Olympic men’s pole vault standard of 5.82m last July 2 in Bauhaus Galan, Sweden.

Obiena already beat Duplantis twice this season—in the Monaco Diamond League last July 22 when he placed third with 5.82m and Duplantis in fourth with 5.72m and last September at the Brussels Diamond League, where the threetime Southeast Asian champion won gold-he cleared 5.91m in his third try with Duplantis settling for silver at 5.81m. But while Obiena’s off the training field, he also kept himself busy with his advocacies. He partnered with Katapult Digital, a marketing technology agency, to auction his kits like shoes, track suits and jerseys which he used in the Hangzhou Asian Games, world championships and the Southeast Asian Games in Vietnam and Cambodia. The proceeds of the auction will go to kids who are dreaming to be a pole vaulter like him. “I believe the Filipinos can win at global level but we can’t do this alone,” Obiena said. “The Philippine pole vaulting community holds much potential. All stakeholders and supporters need to band together to maximize the possibilities.”

Sports BusinessMirror

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hursday, October 12, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LIV Golf: Playing only for money, not ranking points

MATTHEW WOLFF hits from a bunker on the 18th hole during the first round of LIV Golf Chicago at Rich Harvest Farms last September 22 in Sugar Grove, Illinois. AP

Saudi Arabia formally informs FIFA of wish to host World Cup in 2034

ENEVA—Saudi Arabia formally informed FIFA of its wish to host the men’s World Cup in 2034 on Monday in a bidding contest that increasingly looks designed for the kingdom to win. The Saudi Arabian soccer federation said it “submitted a letter of intent and signed declaration to FIFA to bid” in a vote that is open only to members of the Asian and Oceania soccer governing bodies. FIFA fast-tracked starting the 2034 contest last week after its ruling body also agreed to accept only one candidate for the 2030 World Cup— now an unprecedented six-nation, three-continent co-hosting plan in Europe, Africa and South America that removed those continents from bidding to get back-to-back tournaments. The Spain-Portugal-MoroccoArgentina-Paraguay-Uruguay project in 2030 will follow the inaugural 48-team, 104-game tournament in 2026 in the United States, Mexico and Canada. That allows the 2034 edition to return to Asia 12 years after Qatar hosted the 2022 World Cup. Last week, FIFA set tight deadlines of October 31 to formally express interest in hosting and November 30 to return a signed bidding agreement that requires the support of national governments. Australian soccer officials have shown interest in the 2034 tournament after successfully cohosting the 32-team women’s edition with New Zealand two months ago, but they now have only eight weeks to produce a bidding agreement. Australia also may be short of the FIFA-demanded seven existing sta diums on a minimum slate of 14 soccer-suitable venues of at least 40,000-seating capacity. Saudi Arabia, which is preparing to host the 2027 Asian Cup, meets that FIFA criteria. The Saudi Arabian soccer

federation also cited public pledges of support from “over 70” of FIFA’s 211 member federations. The aim is “unlocking new football opportunities at all levels and commitment to support the growth of the game across all corners of the globe,” said the Saudi federation, which has been signing working agreements with national and continental soccer bodies around the world over the past two years. FIFA members will have the final rubber-stamping decision on picking the 2030 and 2034 World Cup hosts late next year, though the 37-member FIFA Council chaired by president Gianni Infantino has already shaped the process. Infantino has built close ties to Saudi Crown Prince Mohammed bin Salman on frequent visits to the oilrich kingdom since before the 2018 World Cup. The Saudi soccer project has seen the sovereign wealth Public Investment Fund buy English club Newcastle in 2021. PIF also took majority control this year of four leading Saudi clubs which have spent massively this season on bringing players from European clubs, including Neymar and Karim Benzema. A Saudi-hosted World Cup, as in Qatar last year, likely would be played in November-December during the heart of the European season, and that will require dealing with influential European clubs and domestic leagues. The FIFA Council which agreed to the 2034 World Cup bidding process included nine delegates from European soccer body UEFA, which now has the 2030 tournament. The council was scheduled in June to approve bidding rules for 2030 but delayed that decision days after the Greek government said a speculated Saudi-led co-hosting plan that also included Egypt had been dropped. AP

LIV says a ranking that doesn’t fairly represent all players regardless of where they play would deprive fans and players. Noting that majors rely on the world ranking, ‘it also robs some traditional tournaments of the best fields possible.’”

The Associated Press

IV Golf is playing only for cash, not world ranking points, after the Official World Golf Ranking (OWGR) board determined it could not fairly measure the 48man league with the other 24 tours around the world. The OWGR rejected the application from Saudi-backed LIV Golf, first submitted in July 2022 after the league already had played two of its 54-hole, no-cut events. “We are not at war with them,” Peter Dawson, chairman of the OWGR board, said when contacted by The Associated Press. “This decision not to make them eligible is not political. It is entirely technical. LIV players are self-evidently good enough to be ranked. They’re just not playing in a format where they can be ranked equitably with the other 24 tours and thousands of players trying to compete on them.” Professional Golfers Association (PGA) Tour Commissioner Jay Monahan, European tour CEO Keith Pelley and Keith Waters of the International Federation of PGA Tours previously recused themselves from the LIV Golf decision to avoid any conflict of interest. The committee that rejected LIV’s application comprised leaders from Augusta National, the PGA of America, the US Golf Association and The R&A, which run the four majors. The majors use the OWGR as part of their qualifying criteria. It notified LIV Golf of its decision with a letter the OWGR later posted on its website. “OWGR’s sole objective is to rank the best players across the globe. Today’s communication makes clear that it can no longer deliver on that objective,” LIV Golf said in a statement. LIV said a ranking that doesn’t fairly represent all players regardless of where they play would deprive fans and players. Noting that majors rely on the world ranking, “It also robs

some traditional tournaments of the best fields possible.” “Professional golf is now without a true or global scoring and ranking system,” the LIV statement said. “There is no benefit for fans or players from the lack of trust or clarity as long as the best player performances are not recognized.” LIV Golf, which has two events left in its second season, has 48 players competing over 54 holes with no cut and a $20 million purse, with an additional $5 million awarded in a simultaneous team competition. Dawson, a non-voting member of the committee, said the OWGR could work around some of the requirements, such as a 36-hole cut and having an average field size of 75 players over the course of a season. But the committee could not get past what amounts to a closed shop. LIV Golf has the same 48 players for the entire season (with alternates in case of injury) and not enough turnover. While the top 24 players are assured a spot the following season, LIV Golf signed several players to lucrative contracts that assure them a spot on the roster regardless of their performance. Among those currently outside the top 24 are Phil Mickelson, Lee Westwood, Bubba Watson, Paul Casey and Ian Poulter. Three players are to be added for the 2024 season through a promotions tournament, with a fourth player—Andy Ogletree—advancing through the International Series on the Asian Tour. LIV Golf can choose to add others by recruiting, such as signing up Mito Pereira and Thomas Pieters ahead of the 2023 season. Most tours around the world typically have a turnover rate of 20 percent to 25 percent. LIV Golf made its debut in June 2022, and the lack of world ranking points has taken an enormous toll. Players who joined the rival league were suspended by the PGA Tour and European tour, and their only access to points came during the majors and Asian Tour events.

AFC kicks off ‘26 World Cup qualifiers among lowest-ranked teams in region

SAUDI Arabia Crown Prince Mohammed bin Salman (left), FIFA President Gianni Infantino (center) and Russian President Vladimir Putin watch the opening match between Russia and Saudi Arabia during the 2018 World Cup at the Luzhniki Stadium in Moscow, Russia, on June 14, 2018. AP

By Doug Ferguson

SIA is set to start its 2026 World Cup journey, giving the lower-ranked teams such as Afghanistan, Bhutan and Pakistan a chance to grab some attention and secure matches against soccer’s continental heavyweights. The Asian Football Confederation’s (AFC) 20 lowest-ranked teams compete in two-leg, home-and-away series on Thursday and next Tuesday, with the 10 winners advancing to the second round of the qualifying group stage. Afghanistan, ranked 158th, takes on No. 183 Mongolia. Getting to the next stage, where each team will have six games, is not just valuable finan-

cially but also in terms of experience. “It’s very important for us to get past Mongolia into the second round as we would play India, Kuwait and Qatar,” Afghanistan coach Abdullah Al-Mutairi told The Associated Press. “We need as many games as possible, and these are strong teams, but we have the quality to show what we can do.” With little in the way of domestic soccer in Afghanistan, Al-Mutairi has tapped into the country’s diaspora and selected talent based in Europe, Asia and Australia to fill the national team’s roster. “We have six or seven local players and we want more in the future but

there has not been a regular league in Afghanistan for two years,” Al-Mutairi added. “Most come from Europe and Asia such as Singapore, India, Indonesia, Georgia, England and Sweden.” Due to the security situation in Kabul, Afghanistan will play its home game against Mongolia in neighboring Tajikistan. “The weather is similar to Europe and we hope that the Afghan people living there will come and support us,” Al-Mutairi said. Yemen, ranked 156th, is another team unable to play on home soil and will take on Sri Lanka in Saudi Arabia. Sri Lanka is Asian football’s

When LIV Golf complete its inaugural season, it had 12 players from the top 50 in the world (led by British Open champion Cameron Smith) and 24 of the top 100. In this week’s ranking, Smith (No. 15) and PGA champion Brooks Koepka (No. 18) are the only players from the top 50, and LIV has only six players among the top 100. Among those no longer in the top 100 are Dustin Johnson, Bryson DeChambeau and Talor Gooch, who has three LIV Golf victories this year. LIV players have mocked the OWGR for not being credible without offering them ranking points. “Dustin Johnson, Sergio Garcia, of course they should be in the ranking,” Dawson said. “We need to find a way to get that done. I hope that LIV can find a solution—not so much their format; that can be dealt with through a mathematical formula—but the qualification and relegation.” The OWGR committee also raised concerns over the team aspect of LIV, particularly a moment involving Sebastian Munoz at a LIV Golf event in Florida a week before the Masters. Koepka had a one-shot lead on the final hole, with he and Munoz both about 40 feet away for birdie. Koepka went first and left the putt just over 4 feet away. Munoz needed to make birdie to force a playoff. However, his Torque team had a one-shot lead. Munoz lagged his putt to just inside 4 feet and made par. “I knew we were one stroke ahead on the team, so I couldn’t go extra. I knew I couldn’t be too aggressive,” Munoz said when it was over. LIV Golf can reapply to be part of the OWGR system, though the board made it clear that turnover, objective access to LIV Golf and relegating players who don’t perform remain key points in getting ranking points. There’s also the matter of the PGA Tour, the European tour and the Saudi backers of LIV Golf (the Public Investment Fund) working out a commercial partnership announced in June. One of the provisions is evaluating the future of team golf.

lowest-ranked nation at No. 202 on FIFA’s global list of 207 members. The Sri Lankans are, however, happy to play at all after FIFA lifted a ban in August that was imposed in January for government interference in the running of the federation. Indonesia and Hong Kong are the two highest-ranked teams in the first round at 147th and 148th. Indonesia is taking on Brunei, and Hong Kong is the clear favorite against Bhutan. Singapore and Guam will play off to go into a second-round group with South Korea, while Myanmar and Macau will meet to decide a spot in a second-round group against Japan, which beat Germany 4-1 last month. Pakistan’s hopes of winning a first ever World Cup qualifier have improved with the news that the AFC has allowed Islamabad to host the second leg of the series against Cambodia, for what will be a first home game for eight years. AP

God of Unity

ear God, You are peace for all who turn to You in need. In trust we pray: Favor us, oh God. Lead all people to unity and peace especially to warring nations. May we find work that is meaningful and befit our human dignity. Hear the prayers of Your children, and strengthen them by Your grace. Give perseverance, patience, and hope to those who are undergoing medical treatment for illness. May the peace of the Heavenly Father stand guard over our hearts and minds in Christ, by the power of the Holy Spirit. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

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Thursday, October 12, 2023

Let’s support breastfeeding moms more: Part II

N a previous column published last August 17, I shared tools and tips on how to make a mom’s breastfeeding journey less stressful. As a continuation to finding relaxation methods that work for you, www.lansinoh.com recommends that nursing moms to set aside one day each week to take a little time for themselves to take a relaxing bath, sit in the sun, or practice a hobby. Everyone is different when it comes to what they find relaxing; just don’t let too many days go by without giving yourself some much-deserved attention. It further emphasizes that it is important for you to take time to develop routines and habits that diminish your stress. It reminds moms that having a baby and bonding with them through breastfeeding is one of the most awesome experiences in life. I like how the article reassures moms that no birthing or breast-

feeding experience will ever be perfect, and to just do your best to live in each moment and enjoy this time while it lasts. One of my main worries that I share with other moms is how to increase my milk supply. There is pressure because I know the important benefits of breastfeeding, like better immune system, lower risk of obesity, lower incidence of SIDS (Sudden Infant Death Syndrome) and protection against various infections like pneumonia, rotaviruses and polio. When I was breastfeeding, I tried many things from tablets to rituals to increase my milk supply. In the end, what worked for me was taking halaan (clam) broth, drinking water and a good nap before feeding or pumping. It is great that there are more resources now for this. Below are great ways to increase your breastmilk supply according to www.lansinoh.com: ■ WATCH BABY, NOT THE CLOCK. Sometimes called responsive or on-demand feeding, this means breastfeeding whenever baby shows signs of being hungry. This helps your body figure out how much milk your baby needs to produce, especially early on. So watch your baby for early signs of hunger: stirring, opening and closing mouth, turning head and rooting around. Whether this happens every 30 minutes or every couple hours, follow baby’s natural cues. Trying to get your baby on a strict feeding schedule too early could actually hurt your supply. ■ SNUGGLE SKIN-TO-SKIN. Who doesn’t love baby

snuggles? Cuddling skin to skin has so many great benefits for baby, and it can help increase breastmilk supply too. Skin-to-skin contact helps you release prolactin and stimulates oxytocin, two important hormones in making breastmilk. Undress your baby down to the diaper and hold him or her against your bare chest. A blanket can keep everyone warm and cozy. Always check baby’s position to make sure that his or her neck isn’t bent too far forward, and that the nose and mouth remain uncovered. ■ PUMP AFTER FEEDING. While the best way to establish a strong supply is to breastfeed on demand from the start, after about 4 to 6 weeks; you can add pumping sessions to increase your breastmilk supply. Breastmilk production follows the rule of supply and demand: the more milk you release, the more you will produce. So upping the amount you remove from your breasts will tell your body that your baby needs more to eat. This teaches your body to make more milk. Adding a pumping session after breastfeeding can help increase breastmilk supply. The best time to pump is 30 minutes to an hour after baby breastfeeds—and, hopefully, when they’re content or sleeping. ■ PRACTICE HANDS-ON PUMPING. Nothing empties a breast better than a baby, but there are things you can do to pump more efficiently. Massaging before a pumping session will stimulate the milk ejection reflex. Continue to massage your breasts during

pumping to keep the flow going. Finally, using hand expression after a pumping session can help you release even more milk. Try power-pumping. Powerpumping is like “cluster feeding”, but with your double electric pump. By emptying your breasts a few times back-to-back, you trick your body into producing even more milk. Find an hour to pump without interruptions, preferably in the morning when your supply is likely at its peak. Pump for 20 minutes, then rest for 10. Pump for another 10 minutes, rest again for 10. Finish with 10 minutes of pumping, then resume your normal pumping or feeding schedule for the day. You should start to see results after two or three days. ■ USE A BREASTMILK COLLECTOR. While pumping is a great way to increase your breastmilk supply, it’s time-consuming. A simpler way to extract a few extra ounces is to use a breastmilk collector or silicone breast pump. When you’re breastfeeding, oxytocin helps push the milk down the milk ducts and out of the breast, on both sides. This normally results in a wet nursing pad and wasted milk from the side baby’s not feeding on. A breastmilk collector applies a gentle suction to silently collect milk from one breast while baby latches on to the other. It’s hands-free, easy, and allows you to focus on baby while getting bonus milk to use later. Here’s to more rewarding and relaxing breastfeeding journeys.

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Thursday, October 12, 2023

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Dennis Trillo affirms loyalty with GMA

FROM left: Felipe S. Yalong, Gilberto R. Duavit Jr., Dennis Trillo, GMA Network chairman and chief executive officer Atty. Felipe L. Gozon, Lilybeth G. Rasonable, and Katrina Aguila.

XPECT more groundbreaking performances from award-winning actor and ratings draw Dennis Trillo, as he renews his ties with GMA Network on October 10. As part of the celebration for his 20th anniversary with GMA, Dennis inked a contract anew with the network. Signing for GMA were chairman and chief executive officer Atty. Felipe L. Gozon, president and chief operating officer Gilberto R. Duavit Jr., executive vice president and chief financial officer Felipe S. Yalong, and senior vice president for entertainment Group Lilybeth G. Rasonable. Representing Aguila Entertainment was its talent manager and CEO Katrina Aguila. Also present in the event were GMA Network vice president for corporate affairs and communications Angela Javier Cruz, vice president for business development department I Cheryl Ching-Sy, vice

president for business development department II Janine Piad-Nacar, consultant for business development department III Darling de JesusBodegon, vice president for business development department III Gigi Santiago-Lara, assistant vice president for business development department II Enri Calaycay, assistant vice president for drama Helen Rose S. Sese, senior program managers Redgynn Alba, Cathy Ochoa-Perez, Edlyn Tallada-Abuel, and executive producer Michele Borja. Dennis admits that he still could not believe all the great things he has accomplished for the past two decades: “Naalala ko ’yung pakiramdam nung unang pagtungtong ko rito sa GMA. Para kang pumapasok sa bagong teritoryo, bagong tahanan. Hindi mo alam kung anong mangyayari sa career mo. Now, feeling fulfilled ako na na-achieve ko ang mga pangarap ko. Sobrang blessed na hanggang ngayon nandito pa rin ako sa

A second UK police force is looking into allegations of sexual offenses committed by Katy Perry’s ex LONDON—A second British police force is looking into sexual offenses allegedly committed by actor and comedian Russell Brand, British media reported on Monday. Thames Valley Police is taking a fresh look at harassment and stalking allegations previously made by a woman against Brand between 2018 and 2022, the BBC and PA news agency said. The police force declined to name Brand—as is usual in the UK for people who have not been charged—but issued a statement when asked about the news reports. “Thames Valley Police in the past two weeks, received new information in relation to harassment and stalking allegations dating back to 2018,” it said. “This information is being investigated; as such it would be inappropriate to comment on an ongoing investigation.” London’s Metropolitan Police said last week it was examining “a number of allegations of sexual offenses” relating to

Brand following a television documentary and newspaper investigations. Brand, 48, denies allegations of sexual assault made by four women in a Channel 4 television documentary, The Times and Sunday Times newspapers. The accusers, who have not been named, include one who said she was sexually assaulted during a relationship with him when she was 16. Another woman says Brand raped her in Los Angeles in 2012. Brand was a major UK star in the early 2000s, hosting shows on radio and television and appearing in several Hollywood movies. He was briefly married to pop star Katy Perry between 2010 and 2012. Brand has largely disappeared from mainstream media but has built up a large following online with videos mixing wellness and conspiracy theories. YouTube has said it will stop Brand from making money from the streaming site, where he has 6.6 million subscribers, due to the “serious allegations” against him. AP

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Josh Hutcherson, 30; Tyler Blackburn, 36; Dion Johnstone, 47; Hugh Jackman, 54.

industriya. Hindi ko akalain na tatagal ako ng 20 years kaya napaka-special ng araw at renewal ng contract na ito.” Atty. Gozon also highlights the successful career of Dennis as a GMA star: “Tayo ay nagagalak na pumirma na naman sa atin ang drama king. In all of the 20 years na nasa atin si Dennis as an exclusive talent, wala akong nabalitaang problema na ibinigay niya sa amin. Kaya pinagpapala si Dennis at halos lahat ng programang kanyang ginawa ay matataas ang ratings.” Meanwhile, Duavit expresses his gratitude for the bankable leading man: “There have been so many good experiences and memories. We’re just very happy and there will be more years to come. Nakakataba ng puso, nakakatuwa, at nagpapasalamat kami kay Dennis sa husay at tiwala niya.” Moreover, Yalong guarantees the audience that there will be more exciting projects for Dennis soon: “Ever since he joined, he never left the Kapuso Network. We’re so proud of him. He has achieved so many milestones in his career and everything was done in GMA. So, we’re grateful and happy that he will be with the Kapuso Network in the coming years.” Rasonable, on the other hand, reveals that the Entertainment Group is always challenged to create out-of-the-box characters fit for the multiawarded actor: “He’s very capable and actually kami ang natsachallenge na isipan ng roles si Dennis kasi he really performs to the best of his abilities and nagagampanan niya beyond our expectations. That’s why we want to give the roles that he deserves because napakahusay talaga niya.” Dennis is indeed one of the biggest names in Philippine showbiz. He brings characters to life with utmost authenticity and as a testament to his superior talent, the actor has earned several recognitions. Through the years, Dennis has proven his charisma, unmatched excellence, and innate passion to his craft. No wonder why he never fails to capture the audiences’ hearts and will shine even brighter as he continues his journey awith GMA. n

CCP BRINGS BEST OF BRITISH THEATER TO PHL BIG SCREEN Nine world-class stage plays, filmed live from Britain’s most exciting stages, will make their Philippine premiere through the CCP National Theater Live, a newly-minted program of the Cultural Center of the Philippines, which aims to provide the best of London National Theatre in a cinema near you. Through CCP National Theater Live, the premier arts and culture institution provides yet another exceptional “live” performance experience to expand the cultural palettes of its audiences, while making international theater accessible to theater enthusiasts, playwrights, artists and the broader public. First launched in June 2009, the National Theater Live is a groundbreaking project to broadcast the best of British theater live from the London stage to cinemas across the United Kingdom, around the

world, and now in Philippine shores. The CCP partnered with National Theatre Live and the Ayala Malls Cinema to launch the first season, which runs until May 28, 2024, exclusively at Greenbelt cinemas. For the first season, the lineup features Life of Pi, Frankenstein, The Seagull, Much Ado About Nothing, The Crucible, Fleabag, Othello, King Lear, and Hamlet, all digitally filmed in high-definition quality. NTL films their plays in front of live theater audiences, but optimized for the big screen and made accessible to theater fans across the globe. Witness the magic of London National Theatre through CCP National Theater Live. All screenings will be at 5:30 pm, exclusively at Greenbelt cinemas. Regular ticket price is at ₱250 while special ticket price for students is at ₱150. Tickets can be purchased at www.sureseats.com.

Happy Birthday: Take care of situations and responsibilities yourself. Don't rely on others to offer solid advice based on truth and principles. Show discipline in handling health, financial and contractual matters. Consider what's needed to minimize stress. Take an innovative approach to balancing time spent on domestic and professional duties. Choose activities geared toward fitness and good health. Your numbers are 3, 16, 19, 26, 31, 37, 48.

ARIES (March 21-April 19): Follow the money trail until you are clear where every penny is going. Keeping track of your expenditures will help you make better decisions regarding what you can do to make a difference. HHH

TAURUS (April 20-May 20): A change will turn in your favor. Go with the flow and enjoy the ride. Refuse to let demands someone puts on you slow you down. Put your energy, money and time where you feel most comfortable. HHH

GEMINI (May 21-June 20): Pay attention to protocol and do everything by the book. Reinvent your skills to suit trends. Show others what you can do under pressure. Be blatant regarding your promises and proactive in physically making things happen. HHH

CANCER (June 21-July 22): Situations will get blown out of proportion at home and work. Take a moment to reflect on what's going on and how you can use the experience to benefit the outcome. Keep your money, documents and possessions in a safe place. HHHH

LEO (July 23-Aug. 22): Digest information and process your options before you make a move. Don't feel pressured by someone using emotional tactics to get you to make a premature decision. Focus on clear-cut opportunities and on getting yourself in tiptop shape. HH

VIRGO (Aug. 23-Sept. 22): A change of heart will prompt you to learn something new and change how you live. Mingle with people who can offer answers, suggestions and a helping hand. If you make your actions count, you'll gain respect and inspire others to follow. HHHHH

LIBRA (Sept. 23-Oct. 22): Take the plunge to get things done. Hesitation will work against you. Redirect your energy where it counts, and keep an eye on transactions that can affect your finances and assets. Weigh the pros and cons before you make a move. HHH

SCORPIO (Oct. 23-Nov. 21): Don't let confusion and uncertainty stand in your way. Consider what's working for you and head in that direction. Look for opportunities to meet new people and to do something that will make a difference in your community. Change begins with you. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Stick to the point. If you color a situation, someone will expect more than you are willing to give. Put greater emphasis on you, how you look, what you are skilled at and where you can have the most significant impact. HHH

CAPRICORN (Dec. 22-Jan. 19): Stick close to home. Keep the peace and go about your business. Make subtle changes that will add to your comfort and convenience. Take care of debt and unfinished business. Temptation and overspending are apparent but will cause added stress. HHHHH

AQUARIUS (Jan. 20-Feb. 18): Ask questions, decide how to proceed and put in the time, effort and finances to ensure you do things right the first time. Trust yourself, not others, when it comes to what's best for you and your loved ones. HH

PISCES (Feb. 19-March 20): A change in how you do things will spark interest. Connect with people who share your concerns and want to make a difference. Don't waste time arguing. Anger will stand between you and what you are trying to achieve. HHHH Birthday Baby: You are open-minded, original and ambitious. You are energetic and responsible.

‘mega game’ by willa angel chen miller The Universal Crossword/Edited by David Steinberg

ACROSS 1 Moment, for short 4 Low-pH substance 8 They fill a cornfield 14 Texter’s “I’ll get there around...” 15 Mystical symbol 16 Sonia Sotomayor or Sofia Vergara, for instance 17 Zuck’s wish after a wild year? 19 “Me? Never!” 20 Coast down a snowy hill 21 What we orbit 22 Baywatch star Anderson 23 Get ___ (punny name for a book club) 25 Pigmented liquids 27 Without much attention 28 Approach to eating mints? 32 Such that you might 33 Funerary vase 34 Pigmented liquid 37 Reactions to something adorable 38 Den fixtures 40 Zing 41 Lamb’s dad

42 Name that’s a facial feature backward 43 MGM lion 44 High-pH substance 46 Nativity prop at a Christkindlmarkt? 49 Prominent Swedish group...or a structural hint to 17-, 28-, 46- or 62-Across 52 Alpha follower 53 Desired answer to a proposal 54 Lightning’s state of matter 56 Lie like a ___ 58 James sampled in Avicii’s “Levels” 61 Whole Foods’ Texas home 62 Neckwear worn on Hawaii’s bits of land? 64 Passed along, verbally 65 Look to be 66 Single-stranded molecule 67 What fashion forecasters predict 68 Philosopher Immanuel 69 Month after Aug. DOWN 1 Stand-up routines 2 And other authors: Abbr.

3 thisWritingStyle 4 Hand holder? 5 Actors’ signals 6 TurboTax’s company 7 Empath Troi 8 Air current from a propeller 9 “Yay me!” 10 Category of physics for Niels Bohr 11 Like notebook paper 12 Hillock 13 Indonesian dish with skewers 18 Revises 24 Tell the teacher, say 26 Packaged serving of coffee 28 Russian leader, once 29 State crossed in an annual bike ride 30 They don’t perform their own songs 31 Active during a game 34 Hot rods 35 Bulldogs’ Ivy 36 Qatari leader 39 Certain people 45 Prepare to propose 46 Beauty and the Beast villain 47 In danger

48 Morning sickness, e.g. 49 In pieces 50 Like less cloudy skies 51 Make makeshift stitches 55 Not severe 57 Narrow valley 59 It pokes a bit of food 60 “Quickly!” 63 Ambulance figure: Abbr. Solution to today’s puzzle:

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Thursday, October 12, 2023

Bob Odenkirk used to make up zany poems. He and his daughter Erin have turned them into a kids’ book

By Krysta Fauria The Associated Press

OS ANGELES—Bob Odenkirk has known he wanted to immortalize the playful poems he created with his kids since they were first scribbled down years ago. The Emmy-nominated actor always assumed Zilot & Other Important Rhymes, hitting shelves on Tuesday, would be a project he completed once his son and daughter had long been out of the house. “Maybe when I was a grandpa,” he mused. But when the entire family hunkered down under the same roof for the better part of 2020, he and his daughter Erin, the younger of the two siblings, wanted to create something that fosters wonder and joy in children in the midst of abundant despair. “We tried to make the most of the limitations, the situation. But you know, that was a hard time for everyone in the country,” Odenkirk recalled of the coronavirus pandemic. “Erin’s an illustrator and an artist. And I thought, ‘Let’s just get to work on that book.’” So they dusted off the whimsical rhymes they had collaborated on nearly two decades ago. Odenkirk added some new ones and his daughter, who was remotely finishing up at the Pratt Institute, enveloped her bedroom wall with her father’s poems as she sought inspiration for accompanying artwork during study breaks. “I’d put them on my closet door right by my desk. And I had this wall of pages,” Erin, now 22, recalled. “Every day, I’d pull like two or three down and I’d try to do a sketch.” The duo looks back fondly on that time of collaboration. But they both admit the process was not without challenges. “There’s tension there. I mean, think of any business partner or any project partner you’ve ever had,” the Better Call Saul star said. “You’re trying to make choices and decisions together. And in this case, you kind of can’t leave, both because there’s a pandemic and because you’re in a family together.” Overall, however, they say the experience brought them closer and helped them get to know each other in new ways. Zilot & Other Important Rhymes—a title inspired by

a word meaning “fort” that Odenkirk’s son made up as a child—shows a distinct amount of respect for its young readers, not shying away from daunting words and concepts like bacteria and climate change. Odenkirk said this was in keeping with his philosophy as a parent when he was raising young children. “I’m not trying to be overly complex, but not being afraid to use language that was a little more complex and refined than most people talk to their kids with,” he said. “I want kids to be comfortable around words and feel that they can use them and maybe even make a mistake, use them wrong and learn and then not feel embarrassed.” Though he has of late opted for more dramatic roles—he starred in the hit series Breaking Bad and played the titular role in its spinoff, Better Call Saul— Odenkirk spent much of his career as a writer (he has two Emmys for that) and actor in sketch comedy shows, like Saturday Night Live and Tim and Eric Awesome Show, Great Job! A regular on the picket lines in both Los Angeles and New York since the Writers Guild of America went on strike back in May, Odenkirk has been a member of the WGA for more than three decades. But last month’s news that the writers had struck a deal with the studios didn’t deter Odenkirk from heading back to the picket lines with the still striking actors in Los Angeles the following day. “I always knew we would get here. These are challenging negotiations. And we have to hold out. And this is where a strike gets really hard and hopefully people suffer on both sides, especially the other side,” he said, alluding to the Alliance of Motion Picture and Television Producers. “We have to show the AMPTP that the things that we’re arguing about and discussing are of a crucial enough level that it matters to us that we’ll suffer,” he said. But his shrewd understanding of Hollywood negotiations has not stopped him from encouraging his own children to follow in his footsteps and pursue careers in the arts—though he acknowledged some ambivalence. “You want them to have expansive ideas of what they could be in the world and contribute to society and to the community and entertain themselves with their work. But it is a tricky business and hard to make

Filipina singer sweeps 2023 World Championships of Performing Arts FILIPINA singer Ronica Mae Mangahas dominated the recently concluded 2023 World Championships of Performing Arts (WCOPA) in Anaheim, California. The international competition, cited as the “Talent Olympics,” is held annually for performers and entertainers. Contenders from various countries across America, Europe, South Africa, and Asia participated in the contest. Esteemed entertainment celebrities and professionals were likewise invited to judge, conduct seminars, and eventually scout for talents. A representative of the Philippines, Mangahas competed in eight out of 14 genres in the Vocal Solo Category. Of these, she won gold medals in the Opera, Open, and Rhythm and Blues (R&B) tilts. Her winning entries were Habanera from Carmen by Georges Bizet, “You Gotta Be” by Patti Austin, and “Yesterday” by Shanice, respectively. The 30-year-old vocalist likewise finished silver in Gospel, Original Works, Rock, and World divisions, through her lauded renditions of “Win” by Brian McKnight, “See Me Fly” by Ammie Ruth Suarez, “For The Very First Time” by Roxette, and “Ilay Gandangan” by Rodolfo Delarmente, respectively. She also serenaded the panel in the Country classification with her personal take of “Bless the Broken Road” by the Rascal Flatts. The musician highlighted that all her preparations and hardships along the way were all worth it. “Competing on the world stage is a dream come true,” she underscored. “I never thought that my passion would get me to represent the country.” “My win is your win. I am truly grateful to all of you, my family, friends, sponsors and coaches,” she emphasized. “I hope to inspire, touch more hearts, and bring nations together.” The multi-medalist is no stranger to the realm of musical events as she started voice lessons and joined interschool plays and choirs as early as Grade 1. Mangahas was a full arts and design

RONICA MAE MANGAHAS

scholar at the De La Salle-College of Saint Benilde (DLS-CSB), where she graduated with a degree in Music Production. During her academic journey, she became a member of the resident chorale group Coro San Benildo and participated in various ensemble tournaments overseas. She was continuously involved in local amateur singing battles, where she was hailed as the daily winner in the noontime program It’s Showtime’s “Tawag ng Tanghalan” and Top 10 in NICKL Entertainment’s online songwriting match. This made her career blossom in the domain of music production, where she collaborated with well-known brands and prominent leaders in the industry. She also formed the MS/MR SARA band and launched their originals amid the pandemic. She advised her fellow Filipino artists to be authentic and grateful for their craft. “Just be who you are. Be unique in your own beautiful way,” she added. “Believe in yourself, because you have what it takes. The world needs you.”

Bob Odenkirk (right) and Erin Odenkirk pose for a portrait to promote their book Zilot & Other Important Rhymes in New York. AP

a living in,” he said. His daughter said she is grateful for her dad’s encouragement to pursue a career as an artist— something she is currently doing in Brooklyn following her recent graduation. But she also had to navigate growing up in a creative household with strong opinions. “I’m a pretty sensitive person, and I think I struggled at a certain point with having my own

sense of taste,” she said. “It was a funny mix of encouragement and also a very quick development of taste that could sometimes be inhibiting.” “Honestly, I think kids who grow up in Hollywood tend to have a more realistic sense of the business than kids who don’t,” her dad said. “They have this interesting gift of belief that it’s possible and also a sense that it’s not as glamorous or as without care as it might look like from a distance.” n

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Jill Biden urges women to get mammograms or other cancer exams during Breast Cancer Awareness Month By Darlene Superville The Associated Press

ASHINGTON—Jill Biden is urging women to consult their doctors about getting mammograms or other cancer screenings, saying in a new public service announcement for Breast Cancer Awareness Month that early detection saves lives. “October is Breast Cancer Awareness Month, and I’m asking you to put your health first,” the first lady says in the 30-second spot recorded amid flower blooms in the White House Rose Garden. “Take a moment to talk to your doctor about whether it’s time for your mammogram or other cancer screenings,” she says in the announcement airing this week on the Lifetime cable network. “There is no one-size-fits-all approach, but we know that early detection of cancer saves lives.” Biden’s ad is part of an annual breast cancer awareness campaign by Lifetime, according to the cable network. A separate public service announcement featuring similar messages from actor Keshia Knight Pulliam and TV correspondent Rachel Lindsay will also be broadcast by the network.

The first lady is a longtime advocate for breast cancer education and prevention dating to 1993, when four of her friends were diagnosed with the disease. Shortly afterward, she launched the Biden Breast Health Initiative to teach high school girls in Delaware about the importance of early detection. In the White House, she and her husband, President Joe Biden, are driving efforts to prevent more than 4 million cancer deaths by 2047 and improve the experience for people who are touched by cancer, including patients, their families and their caregivers. Breast cancer is the most common cancer in US women after skin cancer, according to the Centers for Disease Control and Prevention. Breast cancer deaths have declined over time but remain the second leading cause of cancer death among women overall, the CDC said. One in eight women in the US will be diagnosed with breast cancer in her lifetime. The first lady is among the millions of people in the US who have been touched by cancer. Earlier this year, she had cancerous lesions removed from above her right eye and her chest. In 2015, she and the president lost their 46-year-old son, Beau, to brain cancer. AP

Suffering from memory lapses? Here are simple and creative ways to protect brain health We’ve all had to deal with memory lapses now and then—it could be as simple as forgetting someone’s name in a conversation or leaving your keys at home. But did you know that sometimes these memory lapses can be a symptom of a much more serious condition? It could be an early sign of Alzheimer’s disease. “Alzheimer’s is the most common form of dementia, which typically affects older people,” says Donnabelle Chu, MD, from the Department of Neurology of the Philippines’ top hospital Makati Medical Center (MakatiMed, www.makatimed.net.ph). “The Philippines has the 172nd highest death rate of the disease in the world, with 2,010 people dying from it in 2022.” Chu goes on to explain that Alzheimer’s disease typically gets worse over time, starting with mild memory loss and gradually declining to the point where people cannot live independently. Certain factors also increase the risk of developing the disease, such as age, family history, genetics, a history of head trauma, and more. The good news is, you can take steps to reduce your risk of worsening memory loss and developing Alzheimer’s later in life. According to Chu, one helpful technique is the mind palace technique used by famed fictional detective Sherlock Holmes. “With the mind palace technique, you think of an

imaginary location within your mind. The palace can be any space you’re familiar with, such as your school or neighborhood. You then associate specific pieces of information with different locations or objects within the mental palace,” explains Chu. “As you move through the palace, you can effortlessly retrieve the information by recalling the corresponding location or object.” For example, you might picture leaving a loaf of bread on a sofa in your mental palace. As you walk through your mental palace, seeing your sofa reminds you to pick up bread from the grocery. But that is not all MakatiMed recommends you do to stave off memory loss. Adding aerobic exercises such as running, jogging, Zumba or ballroom dancing, and biking to your daily routine boosts blood flow to your brain and increases the hippocampus, which is the part of the brain involved in verbal memory and learning, and these benefits accrue no matter what age you start. Getting enough sleep is also crucial in strengthening memory. The NREM or non-rapid eye movement sleep cycle stage aids in the transfer of facts and concepts to long-term memory, while the REM or rapid eye movement sleep stage enhances procedural memory and the integration of learned skills. Both stages of sleep play essential roles in memory processing and retention.

It also helps to play board and card games like chess or checkers. These games force your brain to work and exercise your memory while still having fun. Even simpler games like 20 questions (where one player asks another to guess the person, place, or thing that they’re thinking of) provide the same benefits. Reading books, doing crossword puzzles or word search games, and pursuing interests can also help slow down memory decline as these are activities that encourage you to pay more attention to more information, and require you to understand and analyze them quickly. Social interaction can also help prevent Alzheimer’s. By simply listening to information or analyzing cues when communicating, your brain requires you to think and respond, supporting a healthier mind that has the capability to connect with other people. Aside from this, bonding with friends and loved ones can help you to de-stress. “One does not have to resign oneself to memory loss and equate older age to dementia. With a healthier lifestyle and creative techniques like the mind palace, a lot can be done to protect your brain health and stay mentally sharp for as long as possible,” shares Chu. “If your memory lapses have become more frequent and are interrupting your daily activities, it is best to consult with a health professional as soon as possible.

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GREEN METALS RUSH

Stakes are high in the global green metals market

By Jonathan L. Mayuga

Unlike the Aquino and Duterte administrations, the Marcos administration has put minerals development high on its economic and even geopolitical agenda. Even in his official visits and speaking engagements, such as in the recent Asean Meeting, President Ferdinand Marcos Jr. boldly declared that the Philippines is going “beyond extracting the minerals to producing batteries to prop up the local value chain” and would need technology and strong industry participation for it to materialize. Continued on E2

IRINAYERYOMINA | DREAMSTIME.COM

FTER two administrations, the mining industry is finally seeing the proverbial light at the end of the tunnel, but the challenge to ensure responsible mining by minimizing its impact to the environment and community remains.

E2 Thursday, October 12, 2023

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GREEN METALS RUSH that the climate emergency is driving the global clean energy transition, which involves the generation of renewable energy, the need for energy storage, and other new technologies, such as those related to the supporting infrastructure and manufacture of electric vehicles—which boosts the idea of mining the so-called “green” metals or energy transition metals. But are we ready for it?

Green metal what?

Continued from E1

Following his pronouncements, the DENR is now looking at mining playing a key role in the global market as a supplier of green metals while developing the country’s capacity for value-adding through downstream processing of these minerals. Representing DENR Secretary Maria Antonia Yulo-Loyzaga during an international mining conference and exhibition organized by the mining industry’s big players in Mandaluyong City last month, Undersecretary for Integrated Science Carlos Primo David, in his keynote address, declared that the Philippines can be in a unique position to be an important player in the global clean energy market and provide sustainable solutions to the climate crisis. David, a geologist and expert in environmental science, added

BUT what are these so-called green or energy transition metals and what is their potential to boost the country’s transition to renewable energy and a sustainable, low-carbon future? Michael Toledo, chairman of the Chamber of Mines of the Philippines (COMP), said energy transition metals comprise the metallic elements needed to produce renewable energy technologies, which require substantial amounts of metals such as copper and nickel. The Philippines is rich in both copper and nickel, two of the 16 major metallic raw material inputs to renewable technologies. Of the nine clean-energy technologies, seven need copper: electric motors, carbon capture and storage, electric vehicles, nuclear power, solar photovoltaics, lightemitting diodes, and wind. Seven technologies require nickel: energy storage, carbon capture and storage, electric vehicles, nuclear power, solar photovoltaics, light-emitting diodes, and wind, Toledo said.

Why do we need them?

TOLEDO explained that in 2021, the World Bank reported that the planet would need more than 3 billion tons of minerals and metals to enable mankind to respond to the threat of climate change. He further explained that the target is to keep the global temperature from rising this century well below 2 degrees Celsius and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius. “This in large part can be addressed through energy transition, that is, by shifting from fossil fuelbased energy sources to renewable energy sources. This begins with metals. Essentially, we have to electrify the world, and that would need metals—lots of them. Metals are critical to all parts of the energy transition,” he explained.

Minerals exporter

THE Philippines has been exporting minerals before the “green metals” or “energy transition metals” were coined. In fact, other than gold, copper, a precious yellow metal like gold, and nickel are on top of the country’s annual mineral production value outputs. Asked if the volume of production of these energy transition metals in the Philippines is sufficient to make the country a key player in the global green metals market, Toledo said possibly, yes… but there are numerous factors to be considered. Currently, Toledo said Indonesia already accounts for about 55

NICKEL mining in Mindanao. MARY GRACE VARELA | DREAMSTIME.COM

UNDERSECRETARY for Integrated Science Carlos Primo David: “Essentially, we have to electrify the world, and that would need metals—lots of them. Metals are critical to all parts of the energy transition.”

percent of the global nickel supply in terms of processed nickel in various forms. Its output of nickel in various forms is about 5.5 times larger than the Philippines; Indonesia’s nickel ore resources are 4 times larger than the Philippines. Currently, the Philippines has 34 nickel mines, and four more nickel mines are expected to go on stream between 2023 and 2025, according to the Mines and Geosciences Bureau (MGB).

A future EV battery producer?

TO venture into electric vehicle batteries, the demand for which continues to grow exponentially with the popularity of this environment-friendly mode of transportation, the Philippines needs to dig up more nickel ores before putting up more processing plants. Currently, the Philippines only has two nickel-processing plants. According to Philippine Nickel Industry Association (PNIA) President Dante Bravo, value-adding processing plants will greatly contribute to the value of the country’s raw metal ores, as well as map our mineral areas to determine where the higher-grade deposits are. “However, we need to further discuss with government stakeholders the viability and requirements of putting up value-adding processing plants,” he said. Aside from the significant cost and investment in putting up the plant, a nickel processing plant, to be operational, will require upwards of 100 million tons of raw nickel ore for at least 20 years to be considered viable, Bravo said. Toledo, for his part, added that putting up more plants is easier said than done. It would cost around $1 billion, at least, to put up a high-pressure acid leach (HPAL) plant. “If new HPAL plants were to be constructed here, we may be able to participate in the actual manufacture of batteries. But that would depend on several factors, including the development of large nickel deposits that can accommodate an HPAL plant, or of a custom HPAL plant buying nickel from several mines,” he said.

With an insufficient supply of nickel ore, it wouldn’t be wise to put up a nickel processing plant— otherwise, Toledo said, the Philippines would be importing nickel ore to have adequate feedstock to make the nickel-processing venture feasible. Meanwhile, Chile, the top copper producer globally with 29 percent of global copper production, will remain the world’s biggest copper producer in the foreseeable future, says Toledo. “Should the Tampakan, King King and Silangan copper-gold projects begin production within this decade, we will be able to elevate the Philippines’ standing among the world’s top copper producers,” Toledo said.

Mineral-intensive transition

ACCORDING to Toledo, the transition to clean energy will be mineral-intensive, requiring a variety of specific metals: aluminum, chromium, cobalt, copper, indium, iron cast, iron magnet, lead, lithium, manganese, molybdenum, nickel, silver, steel (engineering) and zinc. Metal-intensive renewable energy technologies include electric motors, solar concentrating, energy storage, carbon capture and storage, electric vehicles, nuclear power, solar photovoltaics, lightemitting diodes, and wind, he said. But why is the mining industry so excited about energy transition metals? “Our enthusiasm stems mainly from the government’s acknowledgment of mining as a priority sector that is in a good position to take advantage of opportunities in the energy transition and, as such, with a high growth potential that will help our economy recover,” Toledo said. Toledo said the industry is nevertheless keenly aware that the government will only push for responsible and sustainable mining, not just the extraction of minerals per se, but also the implications of our industry on the integrity of the ecosystem and the livelihood and well-being of communities. “We like to think we are up to the task,” he said. For its part, the Philippine Nickel Industry Association (PNIA), headed by its president, Dante Bravo, said the country is one of the most mineralized countries in the world, and in a unique position to be a major supplier of green metals, as far as nickel requirement is concerned. “The Philippines is one of the most mineralized countries in the world and yet only 2 percent of its mineral resources have been tapped. With the shift in demand for transition metals, the local mining industry has a unique position to leverage its capacities and be a key player in the global market, making the country an integral component of the global

energy value chain. This would result in a significant increase in the country’s GDP, more opportunities for employment, and overall globalization of the country,” he said.

Huge economic potential

TOLEDO said there are a lot of economic benefits from mining—including jobs and livelihood opportunities which all translate to more revenues for the government, and money changing hands is healthy for the economy, ensuring growth and boosting national and local development. “By themselves, the three copper-gold projects, all in Mindanao—Silangan, Tampakan and King King—can increase national government revenues by P12 billion a year, local government revenues by P1.5 billion, exports by almost US $2 billion, and social expenditures by close to P800 million per year. Also, royalties to the indigenous tribes of a little over P600 million per year. These are just three projects. The potential is even greater over the years if we can have stable mining policies,” says Toledo. According to Toledo, more economic benefits are expected if Nickel Asia Corp. (NAC) succeeds in acquiring the rights to the Pujada mine, which can accommodate one HPAL plant—NAC’s third in the Philippines—and if Global Ferronickel Holdings Inc.’s plan to build an HPAL facility with a Chinese partner materializes. For his part, Bravo said presently, the mining sector continues to be a major contributor to the economic recovery and a significant employer of the country’s workforce despite global headwinds and inflation. “Expanding the capabilities of the industry through value-added processing and thus increasing its contributions to downstream industries, including energy, will allow the nickel industry to contribute further to regional and national economies by being able to supply the growing demand for nickel with more valuable exports,” he said.

Huge demand

THE demand for metals is ever-increasing. With the clamor to transition to green energy, the demand for green metals also increases. Currently, Toledo said China, Japan, and a few other Asian countries remain the primary export markets for the Philippines’s mining production exports. Per McKinsey & Co., global electrification for clean energy technologies is expected to increase copper demand from about 25 million tonnes today to 36.6 million tonnes by 2031, with supply then forecast to be around 30.1 million tonnes, creating a 6.5-million tonnes shortfall at the start of the next decade. Continued on E4

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GREEN METALS RUSH “McKinsey also estimated nickel demand to increase from 2.2 million tonnes in 2020 to 3.5 million to 4.0 million tonnes by 2030,” he said.

Current supply shortfall

SO, how much can these demands be supplied by mining companies operating in the Philippines? Toledo said: “It is quite difficult to provide an estimate on how much of the demand can be supplied by operating mines here. According to the World Bureau of Metal Statistics, the Philippines produced 52,000 tonnes of copper in 2021 and, per MGB data, we only have three operating copper mines. That translates to about 0.20 percent of current global demand.” On the other hand, Toledo noted that Statista figures show that the Philippines’s nickel production volume in 2022 was at 330,000 tonnes—from 33 operating nickel mines last year, according to the MGB. That production is around 15 percent of current demand. For the demand for nickel, Bravo said the industry, at its current size and capacity, can generate 40 million wet tonnes of raw nickel ore in a year, given favorable climates with longer dry seasons. But for its entirety, Toledo said there is no single country that has enough mines to meet the demand for energy transition metals to meet global carbon emission reduction targets. “As such, our mining sector should be further supported to help ease the projected supply shortfall in metals needed to produce renewable energy technologies. Apart from extracting minerals, miners may also explore the option of building recycling into their supply chain. A recent Forbes article points out that recycling can give miners a huge advantage in terms of supplying metals to such manufacturers as Tesla, enabling these miners to gain market share, higher ESG premium credits, and revenue from scrap

metals. It’s worth looking into,” he said.

Fiscal regime: a stumbling block?

A NEW fiscal regime is looming and COMP is pushing for one that will be profit-based to make the industry more competitive and attractive to investors. “Investors are at the moment in a waitand-see mode. Although the House of Representatives has passed HB 8937, which introduces new features to the country’s mining fiscal regime, the Senate has yet to pass its version. Until we see a mutually acceptable tax scheme in place, we believe potential investors will continue to delay making investment decisions in the mining sector,” he said. Finally, Toledo said, to realize the Marcos administration’s plans to just go beyond extracting minerals and become a producer of these energy transition metals and manufacturer of products like EV batteries, there’s a need to make the Philippines attractive to investors, as huge amounts of capital are required to explore and develop new mines and to build processing facilities.

FOR the country’s mining industry to make its so-called takeoff, government support and a friendly policy environment are needed. Bravo said the country currently does not have enough operating nickel mines to sustain the growing demand for energy transition. In addition to the new mines and valueadded processing capabilities needed, the country will benefit from a much-awaited mapping of its mineral resources to determine the longevity and capacity of support. “We have spoken to government officials about how critical mineral mapping and feasibility studies are, as these will be the basis of the viability of processing plants, identification of areas where to construct these plants, and judgment on the classification of raw nickel ore present, whether low, medium, or high grade.” “There are a lot of factors that go into putting up a processing plant, however, basing it off the model of Indonesia’s nickel industry, the economic gains from this endeavor will far outweigh the initial costs of investment,” he said. On the other hand, Toledo said the Philippines needs to be more open to exploration and resolve the remaining issues affecting the investment climate in the industry after the removal of the ban on open-pit mining and the moratorium on new mining projects. “These issues include conflicting local and national laws, our country’s high power costs, a protracted permitting process, and a fiscal regime that will not only enhance our country’s competitiveness as a mining investment destination but equally important, reflective of the government’s designation of mining from being merely a ‘beneficial’ industry to one that is ‘essential’ and ‘critical,’” he said. “We in the Chamber of Mines believe further discussions and, more importantly, actions are necessary before we can truly say that mining in the Philippines is back in business,” he said.

ADWO | DREAMSTIME.COM

Wanted: government support, friendly policy environment

Continued from E2

A tricky issue

SKED to weigh in on the renewed interest in mining because of the huge demand for energy transition metals, the anti-mining group Alyansa Tigil Mina (ATM) admitted the issue is quite “tricky.” “While we recognize the need to transition energy systems in the context of climate change, and this, in turn, requires the extraction of energy transition minerals, we must proceed with caution as mining has harmful environmental consequences and negative impacts on communities,” Jaybee Garganera, national coordinator of ATM, said. Mining for green metals, according to Garganera, should not be a reason to open up more mines in the Philippines to simply respond to the growing energy demand, especially of developed countries and the Asian giant economies such as China and India. “Mining more areas poses risks to the environment. These documented impacts include land destruction, subsidence and water loss, soil pollution, water pollution, siltation, loss of flora and fauna and biodiversity, food insecurity, and dislocation of Indigenous People from ancestral land and traditional livelihoods,” Garganera said.

Human rights, water, and land-use conflicts

MINING particularly requires huge amounts of water, which in turn affects water sources and competes with local communities for water use. Also, especially during this time of rampant red-tagging, mining impacts greatly on the security of environmental defenders, he explained. “Global Witness reports the Philippines as the most dangerous place in Asia for environmentalists as it has recorded 11 killings for this year alone. Mining-affected communities may also lose their livelihoods as mining affects agriculture and forestry. Meanwhile, even for those working in the mines, violations of labor laws by mining companies also happen, he said. “An Amnesty International report on nickel mining in Dinagat Islands revealed that workers were being hired without contracts, that they receive delayed payment of wages and no payment for compulsory employee benefits. It is also worth noting that the Free Prior and Informed Consent (FPIC) of communities is also compromised given the propensity of mining corporations to circumvent FPIC processes and to use deceit to get the consent of indigenous groups,” he said.

Wrong priority?

ACCORDING to Garganera, prudence should be exercised before allowing more mines to operate. “We must prioritize a robust and expanded cost-benefit analysis (CBA) applicable for directly affected host communities, the local governments, and the nation as a whole. And this CBA must factor in the environmental, social, cultural and human-rights cost of mining,” he said. In Garganera’s view, even if we use econometrics alone, it doesn’t make sense that we are prioritizing an industry that merely contributes 1 percent of the GDP but threatens the other combined 14-17 percent of GDP from agriculture, forestry and tourism. “Any policy in mining should adequately address the question: “Who benefits from this, both during the mine life and the generation after the mine is closed down?”

Just energy transition

IN transitioning to renewable energy, Garganera said it is also important that the principles of just energy transition or JET be adopted. “The United Nations Development Program, through the Alliance of Just Energy Transition, outlined eight core principles of a just energy transformation. These are: (1) be guided by science and realize the urgency of cutting emissions; (2) be fair and consider every group’s needs, especially the most effective though least responsible; (3) be sustainable, ambitious and holistic in limiting global temperature increases; (4) be comprehensive and where strategies developed nationally are co-designed locally; (5) observe social dialogue; (6) be anchored in climate justice and work toward supporting local jobs and communities and achieving well-being; (7) recognize energy access as being part of the larger goals of sustainable development, economic growth, etc.; and (8) uphold community and indigenous peoples’ rights in pursuing investments, including compensation and meaningful participation for stakeholders. “By upholding these principles, the transition to clean energy technologies is ensured at the same time that the welfare of communities, workers and the environment is prioritized,” he said. Jonathan L. Mayuga

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Treasure beyond measure: Accounting for the environment, natural resources

By Jonathan L. Mayuga

N March 3, 2021, in celebration of World Wildlife Day, the Department of Environment and Natural Resources (DENR) released a study on the economic value of marine turtles and blue-naped parrots.

Based on the DENR-ADB/GEF study, one marine turtle is projected to have an economic use value of P4.80 million (estimated $95,900) throughout its 57-year lifetime. This is based on its ecological role in coastal and marine ecosystems (P900,000 per turtle) and on the tourism value it generates (P3.90 million per turtle). Meanwhile, the annual use value of the entire population of the Philippine marine turtle—conservatively estimated at 7,294 individuals by the DENR-BMB—ranged between P2.89 billion and P3.19 billion (US$57.88-63.85 million) per year. The study underscores the fact that a marine turtle or a blue-naped parrot, which are both being pushed to the brink of extinction by the illegal wildlife trade, costs a lot more alive than dead, or being traded for their meat, eggs or body parts, or being caged in the case of the illicit exotic pet trade. Native plants and animal wildlife are not the only undervalued commodity as far as the country’s natural wealth is concerned.

Pencas bill

THE House of Representatives unanimously approved on third and final reading a bill that seeks to change all that. HB 8443 or the Philippine Ecosystem and Natural Capital Accounting System (Pencas) was identified as a priority measure by the Legislative-Executive Development Advisory Council (Ledac). A similar measure that seeks to establish Pencas has also been filed in the Philippine Senate. Pencas is a framework that takes into account the country’s natural capital and its impact on the economy. It will establish a system for the collection, compilation and development of natural capital accounts in the government as a tool for development planning and programming, policy analysis, and decision-making. Pencas will also serve as a comprehensive data framework in the generation of natural capital statistics and account for their progressive integration in macroeconomic indicators. During an economic affairs committee hearing on Pencas, DENR Secretary Maria Antonia Yulo-Loyzaga said: “We must treasure what we treasure as a country.” The country’s chief steward of the environment and natural resources said indeed, institutionalizing a framework and system that accounts for the country’s natural assets will better align socioeconomic growth targets and indicators with sustainable development goals and take into account agendas on biodiversity, climate change and disaster resilience. She believes that Pencas, once enacted, “will lay out a comprehensive data framework of natural capital statistics and accounts; and provide tools and measures to contribute to the protection, conservation, restoration and resiliency of ecosystems.” More important, the DENR chief said Pencas will significantly support the development of strategies for sciencebased, risk-informed, ethical and equitable stewardship of the environment as this will enable the DENR and other government agencies to come up with specific policies and programs that integrate the economic and climate-change agenda and unlock potentials of the green and blue economies.

Linking multiple disciplines

THE BusinessMirror sought to learn more about Pencas, and here’s what we’ve learned from the DENR. “Developing a Natural Capital Accounting system is a process that can link multiple disciplines and data providers—including statisticians and economists, with social and natural scientists, remote-sensing and artificial intelligence experts, and communities themselves that may be engaged in citizen science. These transdisciplinary structures will enhance and bridge information for decision-makers in the public and private sectors. It can inform decision-making with respect to incentives, finance, and national and local policy coherence, and support monitoring, evaluation and learning from the Continued on F2

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implementation of these policies and programs. The trans-discipline and integrated framework of Pencas would provide a systems perspective to risk-based decision-making and provide a common reference from which different agencies may locate their mandates, identify opportunities for collaboration and synergy, and track their performance.

Economic contribution

PENCAS will not only provide us with a snapshot of the environment and its contribution to the economy. It will help map possible directions in the development of the nation beyond traditional indicators and allow us to explore multiple trajectories for social, economic and environmental development from the valuation of our natural resources. Once we have a framework that can measure our natural resources and locate what natural assets we have, policy and planning—even the basis for regulatory decisions—will change. For one, Pencas will provide the opportunity to operationalize an integrated water resource management system, which Executive Order No. 22 Series of 2023, issued by the President, creating the Water Resources Management Office at the DENR, aims to achieve, the

DENR chief stressed in recent policy pronouncements. Pencas can provide information on the physical flows of water within the economy, and between the economy and the environment, the stocks of water assets and changes to these stocks, economic activity, and transactions related to water resources. This can help policymakers design better policies on water allocation, and pricing strategies more in line with the ability to pay and can inform where targeting investments in water infrastructure can generate the largest impact on the economy.

Sound decisions, well-informed policies

THE DENR’s Biodiversity Management Bureau headed by Director Marcial C. Amaro Jr., concurrently an assistant secretary for policy, planning and foreign-assisted and special projects, for his part believes Pencas can help the DENR make sound decisions and wellinformed policies in managing the country’s natural resources. DENR-BMB through the Coastal and Marine Division explained the importance of Pencas finally being put in place through legislation. “Pencas policy will enable the development of a comprehensive information system and accounting framework that will collect and analyze data about our environ-

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for the environment, natural resources mental assets and resources. This will take into account and make explicit the role of our natural resources or natural capital in supporting economic development.” The DENR-BMB said natural capital accounting will, in fact, highlight the dependency of the Philippine economy on the flow of ecosystem services provided by nature. “The Pencas will additionally provide data concerning the state [condition and health] of our natural resources and the various environmental issues that are crucial for well-informed management interventions in terms of threat reduction and the allocation of necessary resources to guarantee their long-term sustainability,” it says.

Highlighting worth of nature

ACCORDING to the DENR-BMB, the economic valuation of the ecosystem services provided by the country’s natural resources—the vast terrestrial and marine biodiversity—is also part of the Pencas. It will help policymakers, businesses and society as a whole to understand the value of ecosystems, biodiversity and natural resources in economic terms. This will give them concrete information to guide them in developing financing instruments, viable business models and investment decisions with high regard for impacts to the environment. More important, the Pencas

will highlight the immeasurable worth of nature, its inherent value, and the interconnections in the implementation of current policies. It acknowledges that nature and ecosystems have intrinsic rights to exist, ultimately recognizing legal rights that serve as safeguards to protect endangered ecosystems, and applying the precautionary principle, especially when economic values cannot be quantified.

Mainstreaming environmental protection, conservation

BY gaining a deeper understanding of the nation’s natural resources and ecosystems that underpin economic development, it is anticipated that all sectors, particularly economic actors, will be able to incorporate environmental protection and conservation as integral aspects of their core activities (not just their corporate social responsibility arm). “This approach will safeguard the primary source of raw materials—which is, the environment— ensuring the continuous provision of ecosystem services that, in turn, sustains a flourishing and resilient economy,” it says. Expounding further, with Pencas, there will be an enabling framework, the BMB said. “The significance of natural capital accounting has been widely acknowledged globally in recent years. It underscores the necessity not only to assess the value of our natural

resources but also to create practical financial mechanisms that can guide the private sector in making environmentally responsible investment decisions. Natural capital accounting helps us comprehend the true worth of the ecosystems and resources that underpin our economy and human well-being.” “In this context, the private sector plays a crucial role in economic activities. However, for these activities to align with sustainable and biodiversity-friendly principles, it is essential for the government to provide guidance and create the necessary institutional framework. Governments are responsible for setting up the rules, regulations and support systems that enable businesses to operate sustainably. The private sector often follows the lead of the government in shaping its practices and investments. The Pencas bill, if it becomes law, represents a historic achievement for the Philippines. The country is known for its incredibly diverse and ecologically valuable biodiversity. By enacting this bill, the Philippines is taking a significant step toward protecting and preserving its natural assets. The bill not only recognizes the importance of conserving ecosystems but also emphasizes the economic value they bring to the nation.”

Decision-making support tool

“WHAT we measure, we value; and on what we value, we have a

chance to manage better. For the private sector, the implementation of the Pencas will also enable them to evaluate and communicate their reliance on nature, offering a clearer perspective to align their sustainable investment choices,” the DENR-BMB said. Meanwhile, on the government side, the disclosure of private sector dependencies to nature will allow the government, primarily financial institutions, to better direct the businesses toward various opportunities to mobilize private capital for environmental sustainability, yielding returns on investment and additional co-benefits. At the macro level, the Pencas will allow the measurement of indicators beyond the usual GDP, especially environmental degradation, and the measurement of ecosystem services that contribute to human well-being. This will also help ensure that economic growth does not come at the expense of our environment. “It aims to provide a more comprehensive picture of economic growth that considers environmental costs and benefits. Traditional GDP does not account for negative externalities like pollution and resource depletion. By considering the Pencas data in the GDP, policymakers can better understand the trade-offs between economic growth and environmental sustainability. Continued on F4

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In addition to the abovementioned, Pencas will play a vital role in quantifying the value of the country’s ecosystem services. It will organize and guide the government’s data collection efforts through the Philippine Statistics Authority, the National Economic and Development Authority, the Department of Environment and Natural Resources, and other relevant agencies, ensuring that information on ecosystem extent, condition, assets and service flows is systematically gathered. Pencas will provide clear directives to field offices, specifying the data needed to assess both the physical and monetary worth of various ecosystems, including forests, watersheds, and coastal and marine areas. This data-driven approach will inform policymaking, allocate resources efficiently, raise public awareness, and align with global sustainability goals, solidifying the importance of preserving these invaluable natural assets for economic and environmental well-being.

Revenue measuring tool

ACCORDING to the DENR-BMB, assigning economic values to ecosystem services can play a significant role in determining taxes, and Pencas can help in this regard. For instance, by providing information on the economic benefits derived

from services like carbon sequestration or water purification, Pencas can guide the creation of tax incentives for practices that enhance ecosystem health. Similarly, it can inform user fees and charges based on the value of these services. “Pencas data can also support the design of environmental levies, such as carbon taxes, with revenue allocated to environmental mitigation efforts. Furthermore, Pencas values can be used in market-based instruments, such as cap-andtrade systems, to facilitate the trading of permits related to ecosystem impacts. Finally, Pencas can help calculate the financial value of biodiversity offsets for projects with environmental impacts, ensuring equitable compensation for ecological services disrupted. However, careful planning and stakeholder engagement are vital for effective implementation and equitable outcomes.”

A tool against environmental crimes

PENCAS can be instrumental in determining penalties and fines for environmental damage by quantifying the economic value of impacted ecosystems. This transparent and evidence-based approach ensures that fines are proportionate to the harm inflicted on the environment. The system acts as a strong deterrent, encouraging compliance with environmental regulations. Additionally, revenues

from fines can be reinvested in conservation and restoration efforts, guided by Pencas data to prioritize ecosystem recovery. This approach promotes equitable and restorative penalties while enhancing enforcement by targeting high-risk areas and activities. Furthermore, the economic value derived from Pencas can serve as a vital input for amending current policies on fines and penalties, potentially allowing for top-up premium fines to augment existing penalties, thereby further discouraging environmental destruction and incentivizing responsible environmental practices. Pencas can also serve as a deterrent against environmental crimes through its provision of transparent and economically grounded data. It quantifies the economic value of ecosystems, enabling objective fines and penalties that discourage illegal activities. The knowledge that environmental harm directly translates into significant financial consequences serves as a strong deterrent for potential offenders. Additionally, Pencas supports incentives for compliance and reinvests penalty revenues into conservation efforts, further discouraging environmental misconduct. This data-driven approach enhances enforcement, making it more challenging for offenders to evade detection, and it raises public awareness about the economic value of ecosystems.

Finally, the Pencas involves the valuation of ecosystems and their components, which can include wildlife and their habitats. This valuation recognizes not only the economic value of natural resources but also the intrinsic and ecological value of biodiversity. The values/accounts that will be generated by the system can be used as a basis for the imposition of fines and penalties for violations, as well as in the determination of compensation for damages in cases of loss/damage to resources and biodiversity. Special studies on the economic valuation of wildlife may also be undertaken. Results of which may be utilized as a basis to estimate the fines and penalties arising from offenses/violations on illegal wildlife collection and trading. The calculated values that may be derived for individual wildlife species are crucial information underlining the urgency of interventions. While the bill has no dedicated section addressing environmental crimes, the results of implementing this framework or legislation in the future can help shape the penalties for actions like timber poaching, the harvesting of endangered plants, or the hunting of animals. The extent of these penalties would be contingent upon the precise stipulations and modifications introduced in the current environmental laws and regulations in the Philippines.

Perspective of an environmental economist

ASKED to weigh in on Pencas, Rina Rosales, a natural resources management specialist and environmental economist, said Pencas is a welcome new development as it mandates the bureaucracy to produce the accounts. “The accounts have many components. It is not just about counting the trees in the forest but what is being measured is their contribution to the different services a forest provides— that is what natural capital accounting measures,” she said in a mix of English and Filipino. It means that what you gain or lose in the ecosystem will now be accounted for, such as when the government builds roads and has to cut down trees. Government agencies, she explained, will now have to provide data as to how many trees and put value to the trees and the ecosystem services that they provide which will now be lost because of the road project. According to Rosales, there are standards or protocols in the valuation. There’s a standard and valuation in doing the accounting work. “There will be a process. This is where the Philippine Statistics Authority, the National Economic and Development Authority (Neda), and other partners in the accounting process come in. “A lot of data are required and the agencies will provide. But of course, most of the data will also come from the DENR being the natural capital manager. It’s their mandate. They are the ones who are managing the ecosystems,” she said.

Beyond GDP

ACCORDING to Rosales, a project consultant of the DENR for the USAID-funded Sibol Project, natural capital accounting is more than helping measure the GDP, which she said is merely the produced capital, which means all the exchanges going on in the economy. “NCA goes beyond that and it recognizes the contribution of natural capital to the economy,” she said, citing for instance the services provided by the natural ecosystem to produce energy, water or to clean the air—which is not valued because they are not exchanged in the market. “But we know we need that to continue the economic activities so there should be a way to value that,” she said. According to Rosales, it will take a long process but there are ways to do it. “Parts of value can be

Valuing nature’s wealth for sustainable development

By Jovee Marie N. Dela Cruz

N a resounding call for environmental stewardship and responsible development, the House of Representatives recently introduced House Bill 8443, also known as the Philippine Ecosystem and Natural Capital Accounting System (Pencas). Spearheaded by Committee on Natural Resources Chairman Elpidio Barzaga Jr. and Negros Occidental Rep. Francisco Benitez, this groundbreaking legislation aims to revolutionize the way the Philippines perceives and utilizes its natural resources. The importance of House Bill 8443 cannot be overstated as it will safeguard the country’s national patrimony, and ensure that children and future generations will benefit from the abundance of nature, according to the authors of the bill. The House version of Pencas consolidates the efforts of several principal authors, including Reps. Antonio Legarda Jr., Luis Raymund Villafuerte, Tsuyoshi Anthony Horibata, Brian Raymund Yamsuan and Brother Eddie Villanueva. Notably, it also finds resonance in the Senate with a counterpart bill, Senate Bill 9, filed by Senate President Pro Tempore Loren Legarda. “House Bill 8443 represents a crucial step towards safeguarding our natural resources for future generations. It will help us account for the true value of our environment and make sustainable development a reality,” said Benitez. “The Pencas will bridge the gap between economic planning and environmental conservation. It’s a vital tool for meeting international commitments on climate change and preserving our natural heritage,” added Benitez. In the race to the bottom to increase production and accelerate business growth, Benitez said people exploit the country’s natural environment for raw materials and forget that nature provides people “invisible,” life-sustaining services, such as air filtration, groundwater recharge, carbon sequestration—“benefits that are lost when we shave our forests, when we mine and poison our rivers and oceans, when we destroy wildlife.” The authors of the bill shared that at the core of this legislation is the recognition that unchecked development and resource exploitation have far-reaching consequences. Their proposed law highlights the often invisible yet life-sustaining services nature provides, such as air purification, groundwater replenishment, and carbon sequestration, saying these services are easily overlooked amidst the relentless drive for economic growth. In a world where industrialization has allowed humanity to harness the power of nature for its own purposes, the lawmakers said House Bill 8443 serves as a wake-up call.

Pencas: data-driven mechanism

ONE of the bill’s most transformative aspects is the establishment of the Pencas, defined as a framework that takes into account the country’s natural capital and its impact on the economy. Pencas is a data-driven mechanism that evaluates the value of the country’s natural resources and environmental assets, including ecosystem services. This comprehensive approach factors in the cost of environmental degradation and the depletion of natural ecosystems. These values will be integrated into macroeconomic analyses, providing a clearer picture of the nation’s economic health and fostering a more harmonious relationship between development and nature. Natural capital accounting, as advocated by this bill, aligns with the Philippine Development Plan 2023–2028’s goal of building a resilient economy. It bridges the gap between current economic planning methods and the urgent need to conserve and manage natural resources. “We acknowledge that solid data is crucial in preserving and developing our natural capital, and with this proposed legislation, we hope to provide tools and measures that can contribute to the protection, conservation and restoration of ecosystems,” Speaker Ferdinand Martin Romualdez said. “This bill also intends to provide a framework for the generation of natural capital statistics and accounts toward their progressive integration in macroeconomic indicators. That is why the Philippine Statistics Authority (PSA), the Interagency Committee on Environment and Natural Resources Statistics (IACENRS), the Department of Environment and Natural Resources (DENR), and the National Economic and Development Authority (Neda) shall work hand-inhand in the implementation of the measure,” Romualdez added. Under HB 8443, the PSA will have overall responsibility for the institutionalization and progressive implementation of Pencas following the System of Environmental and Economic Accounting (SEEA) framework. This refers to a framework that integrates both economic and environmental data to provide a more comprehensive and multipurpose view of the interrelationships among the economy, the environment and ecosystems, as well as the stocks and changes in stocks of natural assets as they bring benefits to humanity. The bill also provides participatory mechanisms and citizen remedies wherein any citizen will have the right to information on any account generated under the measure, to have the standing to compel the performance of any of the mandates under the proposed law, and to seek justification from any government agency that may have ignored or neglected Pencas data in their policy or decisionmaking. The bill requires Neda approval before commencing any development projects involving Pencas, which are proposed to be undertaken by the national government, national government agencies, government-owned and controlled corporations, LGUs and private investors.

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KEEPING UP with intelligent computers in IR 4.0 PSKILLING” has become a byword in the Philippines especially during the pandemic when the lockdowns hastened the country’s digital shift. Rapid developments on the digital front, including the increasing popularity of artificial intelligence (AI), have now made upskilling an imperative and not just a fad that companies and other organizations could ride on to attract talent and retain customers. Continued on G2

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AI, for one, is increasingly becoming popular not only in advanced countries but also in countries like the Philippines, where millions are employed in manufacturing and business process outsourcing (BPO) sectors. Companies have given AI and other recent developments, such as automation, serious consideration in their bid to reduce costs and further improve the efficiency of their operations. Consulting firm McKinsey & Co. noted in an article published on its website in August 2022 that analytics and intelligence, which includes AI, is one of the four foundational types of disruptive technologies being applied in the so-called Fourth Industrial Revolution (IR) or Industry 4.0. “Steam propelled the original Industrial Revolution; electricity powered the second; preliminary automation

and machinery engineered the third; and cyberphysical systems—or intelligent computers—are shaping the Fourth Industrial Revolution,” it said. Before 2014, McKinsey said the Google search term “Industry 4.0” was practically nonexistent, but by 2019, 68 percent of respondents to its global survey regarded Industry 4.0 as “a top strategic priority.” Seventy percent said their companies were already piloting or deploying new technology. However, Danilo C. Lachica, chief of the Semiconductor and Electronics Industries in the Philippines Foundation Inc., observed in a recent interview that some Philippine industries are “not even close to IR 4.0.” “Maybe not IR 1.0 but IR 2.0 and when we asked why, reasons like lack of knowledge, lack of understanding, financial challenges to implement automation, IoT [Internet of Things] were mentioned,” Lachica said.

Advanced manufacturing

FACTORIES around the world are now increasingly using innovation and technology, such as robotics and automation, to create new products or improve existing ones. The Department of Trade and Industry rolled out its Advanced Manufacturing Workforce Development Alliance Program which sought to improve the capacity of the education system to develop human capital aligned with the requirements of Industry 4.0. The program is supported by the United States Agency for International Development and implemented by Unilab Foundation. Trade Secretary Alfredo E. Pascual said the program will boost ef-

DESPITE the apprehension sparked by the emergence of new technologies and innovation under Industry 4.0, the Asian Development Bank said in a report published in 2021 that the impact of IR 4.0 on BPOs and electronics manufacturing will be “transformative” for jobs and skills. NONIE REYES

forts in increasing the hiring of local workers and strengthen the competencies of the country’s manufacturing sector. “With around 790,000 Filipino graduates annually, companies should find it promising to readily recruit a smart, young and productive workforce for their manufacturing operations,” he said during the launch of the program earlier this year. Despite the apprehension sparked by the emergence of new technologies and innovation under Industry 4.0, the Asian Development Bank said in a report published in 2021 that the impact of IR 4.0 on BPOs and electronics manufacturing will be “transformative” for jobs and skills. The report analyzed the demand and supply

of skills driven by Industry 4.0) technology adoption for both the BPO and electronics manufacturing industries in the Philippines. “The analysis shows that despite widespread concerns of significant automation and loss of jobs associated with 4IR, the net impact on jobs for both industries to 2030 is likely to be positive, with more jobs being created than lost,” the report said. However, the ADB report noted that there are "no guarantees" that displaced workers can seamlessly move into these new jobs, as they will likely lack the relevant skills. The report also showed the varying impact of 4IR on both industries, noting that 24 percent of the current workforce

could “potentially” be displaced by technologies related to 4IR. While the overall patterns of impact in the two industries are similar, there are some crucial differences. For instance, automation of jobs will be potentially higher for men in the BPO industry whereas in the electronics manufacturing industry, automation will have a greater impact on women. The IT and Business Process Association of the Philippines agrees with the ADB report that AI, particularly generative artificial intelligence (GenAI), will have a positive impact on a sector that has become a key cog in boosting the country’s growth. IBPAP said GenAI will help the sector generate 1.1 million new jobs by 2028. “Companies have long been doing proof-of-concept experiments to determine how they can leverage it in their business operations to improve employee productivity, enhance customer experience, reduce costs, and increase top-line growth.”

‘Essential’ skills

IN terms of skills, the ADB report pointed out that evaluation, judgment, decision-making and numeracy will become more important by 2030 in both industries, but the electronics manufacturing industry will also require significant increases in technical skills. There will also be a “greater” need for advanced technical skills in electronics manufacturing. Both sectors will demand additional person trainings by 2030, 14.2 million from the BPO industry and 7.5 million from electronics manufac-

turing. In both industries, on-the-job training will be the critical form of skills development. A recent report released by major professional network platform Linked In also noted that the skills needed for jobs globally may change by at least 65 percent by 2030 as rapid developments in AI accelerate workplace change. However, before diving into AI and other technological innovations, the Management Association of the Philippines (MAP) said the government and the private sector must address malnutrition and child stunting. Cielito Habito, governor-incharge of MAP and the former National Economic and Development Authority chief under the administration of former President Fidel V. Ramos, said the Philippines cannot afford to have a major segment of its abundant workforce “ill-equipped” to meet the demands of the future AI-driven economy, by having lower mental capacities due to impaired brain development stemming from stunting at an early stage. It’s precisely for this peril—an irremediable decline in the quality of human ware—that MAP this year declared an all-out war against stunting. It mobilized its resources, in partnership with government and various stakeholders, to do everything possible to fight it. Ironic, indeed, that in the end, it’s not the robots “taking over” people’s jobs that’s most to fear: it’s people becoming increasingly unable to do them because at the outset, their chances for development were derailed by crippling circumstances of poverty and a total lack of opportunity to redress them.

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New deployment rules, mobile app

TO EASE OFW WOES T

By Samuel P. Medenilla

HE Covid-19 pandemic and the passage of Republic Act (RA) 11641, or the Department of Migrant Workers (DMW) Act, have hastened the introduction of changes to the Philippines’s five-decade-old formula for deploying overseas Filipino workers (OFWs).

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Less than a year after its full operation, DMW under the leadership of its first secretary, Susan “Toots” V. Ople, hit the ground running as it pushed through with the difficult task of updating and simplifying the regulations governing the recruitment and employment of OFWs. As a former labor undersecretary and president of the Blas F. Ople Policy Center and Training Institute Inc. (Ople Center), Ople was aware of the existing gaps in managing OFWs through her regular dialogues with stakeholders. She knew that digitalization will play a significant role in addressing the issues that hound the sector, such as cutting down the processing cost and red tape.

Under the monitoring system, returning OFWs will be asked if they will stay permanently in the country and will be offered local employment facilitation, reskilling or upskilling, and mentoring for entrepreneurship, among others, via a referral system.

Updated rules

IN June this year, DMW finally achieved its first major milestone with the launch of its Department Circular No. 1 promulgating the 2023 Department of Migrant Workers Rules and Regulations Governing the Recruitment and Employment of Land-based OFWs. It was the latest iteration of deployment rules for OFWs since then-President Ferdinand E. Marcos Sr. issued Presidential Decree No. 442 in 1974, creating the Overseas Employment Development Board (OEDB) to manage the deployment of Filipino workers “in excess of domestic needs.” The Philippines Overseas Employment Administration (POEA) took over the functions of OEDB in 1982, before the former was also replaced by the DMW last year. The first-ever official DMW circular updated the 77-page deployment rules for land-based OFWs of the now-defunct POEA to just 44 by simplifying its language and policies, particularly sanctions for erring recruiters. It got rid of the previous threestrike rule for the cancellation of the license of an erring recruitment agency. Now, recruiters face immediate cancellation of their license if they are found to have committed one of the 20 “cardinal sins.” The said cardinal sins include requiring workers to pay illegal fees and costs, which should be chargeable to employers; and negligence in helping OFWs, which led to their death, abuse or psychological impairment. It also provided incentives for compliant recruitment agencies, which included the extension of the validity of their license from four years to six years and reduced processing requirements. DMW Assistant Secretary Francis Ron C. de Guzman told the BusinessMirror that separate updated rules for the recruitment and employment of sea-based OFWs will be issued. “It is now undergoing [legal] scrubbing. We hope to release it by the end of the year,” De Guzman said. The new circular is expected to

Concerns

In her short stint in the agency, stakeholders noted that the reforms initiated by Susan “Toots” V. Ople were a good foundation for DMW and for improving the welfare of OFWs. increase the number of sanctioned erring recruitment agencies. “Because of the one-strike policy, which replaced the graduated [scheme], and how several suspension will be equal to cancellation, it is now easier to compute [when to sanction agencies],” De Guzman said. Four months after the updated rules were implemented, the DMW official said they have received positive feedback from stakeholders, particularly about its incentives, as the rules were deemed convenient for their operations. However, he noted that the recruitment industry is still adjusting to the stringent rules on sanctions. “I think that is what Secretary Toots really wanted. If you are doing really, really well then okay, your operations can continue and if not, they are out.... So we told them it’s either you shape up or we ship you out by cancelling your license,” De Guzman said. The agency will conduct a series of seminars and lectures this month to enhance the awareness

of stakeholders and the public regarding the changes in the DMW rules. President Raquel Espina-Bracero of the Philippine Association of Service Exporters Inc. (PASEI) stated that her group is currently conducting a comprehensive review of the provisions of the new DMW rules, which includes roundtable discussions with their members. “We submitted position papers for the provisions that need amendment. DMW has been accommodating. We want to input provisions, which will be good for the OFWs, PRA [Philippine Recruitment Agencies], and the government,” Bracero said.

Digital solution

ANOTHER priority reform of DMW was the creation of its mobile app, which aims to automate the verification of OFW contracts as part of the move of the Marcos administration to digitalize government operations. Through the DMW Mobile App, certain OFWs were provided

the option to obtain their OFW Pass for free, replacing the overseas employment certificate (OEC). The OFW Pass can be acquired without the necessity for face-toface application. However, during the pilot rollout of the mobile app in 10 countries, it suffered several technical glitches, which temporarily prevented its use. DMW officer-in-charge Hans J. Cacdac said the agency has already completed the initial testing of the DMW Mobile App and concluded that its use will still be limited to OFWs who will change employers. He said they made the decision since a lot of OFWs still rely on face-to-face transactions to obtain their physical OECs for now. For the next phase of the implementation of the mobile app, several features are expected to be included, such as a quick response (QR) code for automatic exemption from travel tax and terminal fee for an OFW. DMW Assistant Secretary Venecio V. Legaspi said they also plan to include a system for monitoring OFWs, who will need reintegration services, in the mobile app. “This will be a big help in profiling OFWs.”

ACCORDING to Kanlungan Center Foundation Inc. (KCFI) managing trustee Erwin R. Puhawan, the use of digital solutions for migration management is not new. In fact, he said, the Overseas Workers Welfare Administration (OWWA), which is an attached agency of DMW, has the Electronic Case Registry and Response System (ecares), where OFWs can register their complaints. The system also keeps track of the predeparture educational programs and welfare aid programs and services for OFWs. Puhawan said several countries like Malaysia have also adopted such digital solutions through the Foreign Workers Centralized Management System managed by a private firm, Bestinet. Even the International Labor Organization (ILO), he pointed out, recognized the potential of adopting such online labor management systems in the Association of Southeast Asian Nations. In its 2018 report, ILO said such a system can provide migrants with a digital trail that they can use to demonstrate their status as well as reduce the time and costs associated with migration. While it supports the introduction of the DMW Mobile App, KCFI said the government should be “transparent” in its implementation. Puhawan emphasized that the government should guarantee the secure storage of the mobile app’s database, which holds the private information of OFWs, and ensure that it will not be utilized for commercial purposes. He mentioned that the DMW should persist in offering alternatives for OFWs to access their services through offline methods, given that numerous Filipinos still lack access to mobile phones or internet services. In response to these concerns, Cacdac stated that the DMW Mobile App is overseen by their inhouse information technology

department, working in collaboration with the Department of Information and Communication Technology, to guarantee the security of its database. He also provided assurance that the rollout of the DMW Mobile App would occur in stages, ensuring that OFWs can smoothly transition to the new system with minimal disruption.

Toots’s enduring legacy

ASIDE from the new deployment rules and the mobile app, Ople, who died of cancer in August, had also tried to improve the quality of service in the agency in her brief stint as head of DMW. Ople’s daughter and BOPC President, Estelle Ople Osorio, recalled how her mother made sure that all DMW personnel would be accommodating to OFWs. “They should not be grumpy and their mindset should be to serve OFWs and not the other way around,” Osorio said. She added that her mother was “notorious” for being a stickler for law enforcement and that she does not accept gifts. “I remembered when she first assumed office, there were many gifts [in her office]. But they later realized that my mother keeps returning their gifts. So when my mom passed away, [accepting] so many gifts was no longer part of the culture [in DMW],” Osorio said. “She really wanted to clean the department. She really wanted it to focus on honest government service with a heart,” she added. DMW officials and migration stakeholders all agree that it is still too early to assess the long-term impact of the reforms initiated by Ople in her brief term as DMW Secretary. Ople passed away on August 22, 2023, due to health complications caused by breast cancer. In her short stint in the agency, stakeholders noted that the reforms initiated by Toots were a good foundation for DMW and for improving the welfare of OFWs. She had been the perfect person to hold the reins of an agency whose time had come, nearly half a century since her father, then Labor Secretary Blas F. Ople, championed the cause of migrant workers. The torch has been passed.

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Whether it’s on 4 or 2 wheels, ride hailing

WILL GET YOU THERE

VER the last decade, the ride-hailing industry has taken the Philippines by storm, creating a seismic shift in the country’s transportation landscape.

Leveraging new technologies and connectivity, ride-hailing has revolutionized the way Filipinos commute and navigate the bustling streets of the archipelago. With the convenience of smartphone apps, commuters can now summon a ride with a few taps, significantly improving their daily transportation experience. What started as a taxi-hailing service, which was originally aimed at reducing the risk of women riders by providing them a much safer and more transparent ride, has given birth to a myriad of services—from private cars to motorcycle taxis.

Grab the first mover

Plugging the gap

EVERY component of the public transport ecosystem serves a purpose—from jeepneys, UV Express, and public utility buses, to tricycles. Ride-hailing, according to Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Teofilo Guadiz III, is a critical part of the overall public transportation body. “Each has its own function and specific market to serve. But all of them share a common responsibility, which is to bring our commuters safely to their destination,” Guadiz said. He noted that ride-hailing services provide commuters with more options, while playing a role as a catch basin for other transport modes—especially when they are all clogged up during peak hours and holidays. “The LTFRB looks at the ridehailing industry as an essential component [of] the country’s public transportation system. We believe its presence is necessary to help augment the strong passenger demand using a digital platform technology application for easy access of the passengers, especially during peak hours and more impor-

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tant, in peak seasons like the Yuletide season where more people will go out for their annual Christmas shopping and other activities,” Guadiz explained. Asked about the impact of ridehailing on traffic, Guadiz acknowledged that the industry does contribute to the volume of vehicles on the road. However, he stressed the positive aspects, such as the added convenience and flexibility for commuters. Ride-hailing vehicles can navigate through traffic more efficiently, thanks to technology that allows them to choose optimal routes.

“Being the country’s regulatory body for the public transportation system, we just want to focus on the positive effects of the ride-hailing sector. But then again, it cannot be avoided that the commuting public will make comparisons of each denomination. Some may most likely see ridehailing as a perfect fit for their needs, but not all commuters will see it that way,” he said. Still, the LTFRB believes that ride-hailing is an essential component of the overall ecosystem, even as this has yet to reach its optimal capacity to truly meet passenger demand.

RIDE-HAILING started in the Philippines when Grab entered the Philippine market in 2013. Founded under the belief that providing a transparent ride will reduce the risk to commuters, while increasing accountability to drivers, will ultimately lead to an empowered passenger. It was a first mover, so to speak— especially after it entered into an acquisition deal with its then-solecompetitor Uber—and has since diversified its operations from taxi hailing to enabling private cars to become transport network vehicle services (TNVS). Grab has also developed different solutions that cater to the different needs of consumers. For instance, it developed GrabShare to enable passengers to get cheaper rides by sharing their booked vehicle with other passengers. Niche transport solutions also included GrabPet, for pet transport, GrabFamily, for passengers traveling with kids, and GrabCar Six Seater, for bigger groups. All of these, however, came to a complete halt when the pandemic happened. And now that mobility is back Continued on H2

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Whether it’s on 4 or 2 wheels, ride hailing

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and people are free to move around, Grab Philippines COO Ronald Roda said the local ride-hailing industry has seen “dramatic transformations” due to the pandemic. “The Philippines’ ride-hailing landscape has undergone dramatic transformations, particularly in light of the pandemic. Prior to Covid-19, we were on an upward trajectory, with our GrabCar service witnessing a strong demand. However, the pandemic-induced lockdowns and travel limitations

led to a transient decline in ride requests,” he said. “Thankfully, as we navigate the road to economic revival and recovery, the industry is making a strong comeback, albeit with evolved user preferences.” Now, Roda explained, passenger preferences have evolved, emphasizing safety, reliability and efficiency more than ever before. “Today’s passengers prioritize safety, reliability and efficiency more than ever before,” Roda noted. “Moreover, there’s a noticeable clamor for our services to expand in more cities beyond Metro Manila. This enthusiasm from other cities and communities underscores the growing acceptance and trust in the digital-first mobility solutions that Grab provides, affirming that Filipinos across various regions in the country are ready to embrace ride-hailing as a form of everyday transport.”

Still untapped potential

RODA said the ride-hailing sector in the Philippines holds immense potential for growth, and Grab is committed to harnessing that potential. “At Grab, we’re committed to offering every passenger a blend of safety, reliability and convenience. While we’ve achieved substantial advance-

ments in technology and diversified our services, our mission doesn’t stop there,” he said. To further advance the industry and better serve passengers, Grab has a wish list from the government to facilitate its growth. “We are proactively advocating for the expansion of TNVS slots and the opening of new cities for ridehailing. These are crucial in meeting the growing demand for ride-hailing services, creating livelihood opportunities for our kababayans, and stimulating economic activities across various industries,” he said. Grab believes that a balanced marketplace enhances reliability and offers cost-effective solutions that benefit passengers. The company is eager for sustained dialogue and collaboration with regulatory bodies to craft policies that strike a balance between consumer protection and the needs of their driver-partners. Simplifying licensing processes and promoting innovation-centric policies are also at the forefront of Grab’s aspirations. These steps will not only improve the efficiency of the industry but also ensure that it remains adaptable to changing circumstances. Asked about Grab’s plans for its mobility business in the Philippines,

Roda said: “At Grab, our vision for the future of mobility in the Philippines revolves around creating an integrated and seamless transport solution for every Filipino.” Key initiatives in this vision include expanding Grab’s fleet to accommodate the ever-increasing number of passengers seeking their services. This expansion aims to ensure consistent service quality, meeting the rising transportation needs of the commuting public.

Driver-partners

GRAB is also committed to playing an active role as the growth partner of its driver-partners. “We ensure that they earn meaningful livelihood opportunities on our platform while creating growth pathways for them through skills development programs,” he said. Expanding ride-hailing services to more cities and communities across the country is also on Grab’s growth agenda. It is actively consulting with regulatory bodies and local government units to identify regions where its innovative mobility solutions can create a positive impact for passengers, driver-partners and community stakeholders. In essence, Roda explained, Grab’s objectives of geographic reach, fleet augmentation and partner success stand at the core of its endeavors.

Just two wheels

RIGHT before the pandemic hit the Philippines and made ghost towns out of all the roads, another form of ridehailing service became very popular. Motorcycle taxis—a glorified term of the colloquial word habalhabal—were weaving through Metro Manila’s congested arteries with the boys in light blue and white bringing commuters from point A to point B with just two wheels. In provinces outside Metro Manila, habal-habal or informal motorcycle-for-hire services are popular and are well-positioned to meet the transport needs of commuters. However, they are considered “illegal” due to the lack of legislation that allows them to provide mobility services for people. One digital platform tried to challenge this mindset by trying to put order into the industry. Angkas was founded in 2016, after the then LTFRB management deemed GrabBike, the first two-wheel ride-hailing service in the country, illegal. Its founders, Angeline Tham, the former head of GrabBike in the Philippines, and George Royeca became instant celebrities and heroes by pushing the government to adapt to the demands of the time. Tens of thousands of riders backed Angkas. Roughly 27,000 riders protested on Edsa one December Sunday in 2019 to pledge their support to the legalization of motorcycle taxis. Together, Royeca and Tham championed in Congress the move to legalize motorcycle taxis as a form of public transportation. Their initiatives gave birth to the motorcycle taxi pilot study, essentially an evaluation of the service’s viability and safety. Royeca, the CEO of Angkas, said the two-wheel ride-hailing sector has a significant role to play in bringing Filipinos to their destinations. Similar to the four-wheel sector, the two-wheel ride-hailing landscape has seen “significant growth and transformation,” according to Royeca. “What was once considered an informal and unregulated mode of transportation, primarily in the form of habal-habal, has evolved into a thriving and essential part of the country’s transportation ecosystem. With the introduction of companies like Angkas, the industry underwent a significant shift,” Royeca said. He said before platforms like Angkas came into the scene, motorcycles-for-hire were largely unregulated, “which did not contribute positively to the economy.”

“However, Angkas changed this narrative by formalizing the industry. We provided employment opportunities, offering riders a chance to take pride in their work and contribute to society. Through collaboration with regulators and stakeholders, we have worked to establish industry standards, ensuring safety and professionalism among riders,” Royeca added. The motorcycle taxi pilot program provided for the provisional operation of three transport network companies (TNCs): Angkas, JoyRide and Move IT. It has been almost four years since the program was launched and yet the government has yet to formally conclude it—either by enacting a law for, or banning motorcycles-for-hire.

Pass the law, imitate success in SEA

THE two-wheel ride-hailing industry in the Philippines is still in its early stages of development, but it holds immense potential, according to Move IT General Manager Wayne Jacinto. “The two-wheel ride-hailing industry in the Philippines is still nascent,” said Jacinto. “We see that there is plenty of space for growth and improvement, which will be driven by three major factors: the ratification of the motorcycle taxi bill, growing the motorcycle taxi rider population, and platform innovations for two-wheel ride-hailing.” Jacinto noted that other Southeast Asian countries, such as Vietnam and Indonesia, have wellestablished two-wheel ride-hailing industries, while the Philippines has been playing catch-up. It is still in the process of formalizing and regulating this sector. “We should aspire to achieve the robustness of the two-wheel ridehailing in countries like Vietnam and Indonesia, where the positive economic impact of the industry is very evident,” Jacinto added. However, he commended the government regulations that focus on safety and welfare, emphasizing Move IT’s commitment to road safety and passenger satisfaction. “We stand in firm alignment with regulatory measures focusing on the safety and welfare of both passengers and rider-partners,” Jacinto explained. “Road safety is an integral pillar of Move IT’s sevenpoint manifesto to our passengers, along with affordability, reliability and integrity of service.” Jacinto expressed optimism about the industry’s potential to become a major livelihood driver in the Philippines once the government officially legalizes it and opens more slots for rider-partners. “We are optimistic that once the government officially legalizes the industry and opens more slots for rider-partners, we will be able to unshackle the full potential of the motorcycle taxi as a mobility option,” Jacinto said. Royeca echoed this sentiment, saying the passage of legislation will support the industry’s development and unlock its full potential. He believes that legislation regulating motorcycle taxis is essential for growth, safety, and providing commuters with reliable transportation options. Regulating the industry can also contribute to safer road conditions and fair competition, he added.

Prioritize, focus on passengers

PRIMO MORILLO, the convenor of The Passenger Forum, acknowledged the ride-hailing industry’s significance in addressing the challenges of public transportation in the Philippines, where limited options and traffic congestion persist. “Due to the lack of public transport options, the ride-hailing industry is thriving in our country,” Morillo noted. “We still see mass public transportation as the most important solution in the transport crisis we are in. However, even if we

are able to solve the current crisis, ride-hailing will still be popular and useful for Filipino commuters mainly as a last-mile option or for short door-to-door trips, and partly as an alternative to dilapidated taxi cabs and expensive vehicle rental.” Morillo also provided insights into how the Philippines compares to other countries in terms of ridehailing adoption, noting that the Philippines closely aligned with regional averages. “Based on a 2021 study of Blackbox Research, 51 percent of Filipino respondents use ride-hailing services,” Morillo explained. “We are the closest to the 53 percent average among six countries covered by their research. Vietnam has the highest ridership at 69 percent, while Thailand registered the lowest at 38 percent.” In assessing the current state of the four-wheel and two-wheel ridehailing industry, Morillo highlighted the relative stability of the four-wheel sector compared to the evolving landscape of motorcycle taxis. “The state of four-wheel is more stable than motorcycle taxis,” Morillo stated. “It was easier for our government to regulate four-wheel as we already have regulations for taxis before the advent of Uber and Grab. The formal motorcycle taxi industry in the Philippines is still dependent on a government study. Thus, there is an urgent need for the enactment of a motorcycle taxi law,” he said. Morillo also provided valuable insights into regulations and policies that benefit passengers and areas where improvements are needed. “We should focus more on customer experience, safety, and supply distribution,” Morillo emphasized. “The government should mandate accident insurance for passengers. Drivers of four-wheel and riders of two-wheel must be oriented well on social and gender sensitivity to ensure a better experience for passengers. Gross violations such as violence and sexual harassment must be decisively dealt with.” Morillo also stressed the importance of understanding surge pricing and its role in balancing supply and demand while preventing price abuse. Additionally, he recommended distributing franchises to various urban centers to meet demand effectively.

Reshaping public transportation

THE ride-hailing industry has undeniably reshaped public transportation in the Philippines, offering commuters a convenient, safe and reliable mode of travel in a country where transportation challenges persist. Guadiz acknowledged that there is a huge room for improvement in regulation and processes, and vowed to keep the LTFRB accountable to help the industry grow. “Just like any industry or sector, constant development/upgrading/study is needed so that the ridehailing industry is able to deliver optimum service to the riding public. Our mandate is to regularly oversee the industry’s performance and check for further improvements, and to see if they are following regulations laid out by the LTFRB, like if they are following the designated fare matrix, if they are overcharging, or doing other activities that may be detrimental to the public,” he said. While challenges remain, such as the need for legislation to fully formalize the motorcycle taxi sector, there is a clear commitment from all sides to continue innovating and collaborating to enhance the passenger experience and further develop this vital component of the nation’s transportation ecosystem. As Filipinos increasingly turn to ride-hailing services for their daily commutes, it’s evident that the industry is an idea whose time has come, bringing with it the promise of a more accessible and efficient future for all.

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FROM BLACK TO GREEN:

PHL doubles down on clean energy ambitions WO years after Manila banned the construction of new coal-run power plants, the government has doubled its efforts to build more sustainable power systems and to ease the entry of new, cleaner and indigenous technological innovations.

Renewable energy (RE) policies and green energy auctions have kept the Department of Energy (DOE) and the Energy Regulatory Commission (ERC) busy to raise the share of RE in the power generation mix to 35 percent by 2030 and 50 percent by 2040. “The time for RE in the Philippines is now. The price of RE is competitive and we have enabling policies and government processes that facilitate RE development,” said DOE Undersecretary Rowena Guevara. Solar photovoltaic, for example, was more than 80 percent

cheaper in 2022 than in 2011, resulting in an increase in solar installations nationwide. “It was bound to happen. After 12 years since the launch of the National Renewable Energy Program (NREP), the cost of RE technologies has drastically gone down,” said former DOE Undersecretary Jay Layug, who also served as the chairman of the National Renewable Energy Board (NREB). With the assumption into office of President Ferdinand Marcos Jr. and the appointment of DOE Secretary Raphael Lotilla and ERC Commissioner Monalisa Dimalanta, the power industry has seen a dramatic shift in government policies towards RE.

100% foreign ownership

ARMED with a legal opinion from the Department of Justice, Lotilla adopted a game-changing reform by opening the RE sector to full 100-percent foreign ownership. Another bold move was the issuance of an executive order which establishes a policy solely for a particular energy resource—offshore wind (OSW). “We have not seen that in the past and that’s a good sign, meaning the government wants offshore

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and this could only bode well for the electricity consumers and the environment as a whole,” he said.

Ambitions

WIND farm in Bangui, Ilocos Norte. NONIE REYES

wind very, very soon,” added Layug. The country’s potential OSW resources was estimated at 178 gigawatts (GW). To date, the DOE has awarded 79 OSW contracts with total potential capacity of 61.93 GW, enough to supply the country’s future electricity demand. Other policies that led to the faster entry of RE investments include the Green Energy Auction (GEA), Renewable Portfolio Standards (RPS), and preferential dispatch of RE in the spot market. More RE projects will be constructed in a few years following two rounds of GEA that led to about 5,300MW of RE capacities committed for delivery between 2023 and 2026. GEA will be done yearly and will include emerging technologies such as OSW. The DOE will also work on the transmission lines that are necessary in order to bring RE to the markets or where they are needed, as well as the energy storage systems (ESS) to complement the variable RE sources. Apart from policy enhancements, incentives for RE projects are laid down under the 2022 Philippine Strategic Investment Priority Plan. There are also income-tax holidays, duty-free importation, and tax exemption of carbon credits provided under the Renewable Energy Act. Through the Board of Investments, the government announced that RE projects have taken center stage, accounting for approximately 80 percent of investments approved for 2023. These policies and incentives played a big role in charting the RE

“Renewable energy’s time has come, and this could only bode well for the electricity consumers and the environment as a whole.”—Alternergy chairman and former energy secretary Vince Pérez

goals of power firms. For instance, Alternergy Holdings Corp. has set a goal of up to 1,370 megawatts (MW) of additional wind, solar, run-of-river hydro, and ESS in its portfolio in the next five years. Alternergy chairman and former energy secretary Vince Pérez recalled the groundwork for renewables started years ago with the crafting of the Renewable Energy Framework in 2003. At that time, prices of renewables were really “off the mark,” RE policies and regulatory mechanisms were absent, and there were no investors ready to venture into clean energy. Back then, he said, the vision was articulated. “Since then, the RE industry has evolved. Renewable prices are very competitive; policies are in place and investments run in billions. There is great competition, confirming RE’s time has come,

ACEN Corp. intends to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW of renewables capacity by 2030. ACEN President Eric Francia said renewables have become more competitive amid the scaling and improvement of technology and the structural increase in fossil fuel prices as an offshoot of the global energy crisis. He agreed that government policies help accelerate the scaling of renewables. As of last year, the RE share in the power generation mix stood at 22 percent. “The last few decades were dominated by coal plants to help power the country’s growth. The next few decades will mark the renewables era, where RE will help power economic growth, drive electrification, and transition from fossil fuel to clean energy,” added Francia. With government support and the development of technologies, Aboitiz Power Corp. said the industry will strive to meet the country’s goal. “The Philippines is fortunate to have an abundance of solar, wind, hydro and geothermal potential; making renewable energy an attractive option and an industry poised for growth,” said company president Emmanuel Rubio. The message is clear. Government wants more renewables and the green shift is in full gear. While everyone is eager to transition to 100-percent RE sources, some observed that the technology and infrastructure for renewables are still evolving in the country and are not yet at a scale where they can meet the energy demands consistently. “Its inherent intermittencies hinder the country from scaling its use to much more significant proportions of the national energy mix.… AboitizPower believes that a diversified mix composed of all forms of energy—be it thermal or renewable—are needed in order to meet the supply-demand gap, make prices more competitive, and make the power supply mix more sustainable both now and in the years to come,” added Rubio. The resiliency of infrastructure to natural calamities, and the country’s exposure to geopolitical conflicts also need to be addressed.

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Thursday, October 12, 2023 I1

SUSTAINABLE FINANCE: From ‘greed’ to ‘green’ is good

By Cai U. Ordinario

ORDON GECKO, the protagonist in the 1987 movie Wall Street, was made famous for uttering the line “Greed is good.”

Nearly 40 years after, the phrase, which defined a decade of excess and opulence, has become taboo. These days, green is good. And what a world of difference a letter makes. While green is good, it costs to go green. Being conscientious of the triple bottom line—planet, people, profit— has a cost. In short, efforts to become sustainable and inclusive have price tags that few developing countries could afford. This is where sustainability bonds come into focus. In such a short time, it has come to be known to generate the needed funds to allow Mother Nature to heal itself. It also paves the way for addressing inequalities wrought by decades of being greedy and profit- hungry. “Sustainable bonds is more like a very general type [of instrument] to define fixed income, securities that can deliver positive environmental and social benefits,” Senior Economist on Economic Research and Development Impact Shu Tian of the Asian Development Bank’s (ADB) Macroeconomics Research Division Department told the BusinessMirror in an interview.

Bonds by definition

AS an umbrella of bonds, sustainability bonds are issued to respond specifically to social needs such as education and health, as well as green bonds that respond to environmental needs. In an email to this newspaper, World Bank Treasury Sustainable Finance and ESG Advisory Program Head Farah Imrana Hussain and Financial Officer Abhishek Joseph said sustainability bonds support a combination of green and social projects and activities. Hussain and Joseph said issuances of sustainability bonds are governed by Principles set out by the Zurich-based International Capital Markets Association (ICMA). ICMA, based on its website, has over 600 members active in all segments of international debt capital markets in 66 jurisdictions globally. In the Philippines, ICMA member institutions are the ADB, the Bangko Sentral ng Pilipinas (BSP), and the Bureau of the Treasury. In general, ICMA members are private and public sector issuers, banks and securities dealers, asset and fund managers, insurance companies, law firms, capital market infrastructure providers and central banks. “These Principles have a stated mission and vision of promoting the role that global debt capital markets can play in financing progress towards environmental and social sustainability. These

principles are updated periodically, in consultation with external stakeholders,” Hussain and Joseph said in an email to the BusinessMirror. Green bonds subscribe to the Green Bond Principle (GBP) which was crafted by a number of banks in 2014. A report by the World Bank noted that ICMA serves as GBP’s Secretariat. There are several categories of green bonds in existence. The World Bank report on green bonds identified these as bonds for renewable energy; energy efficiency (including efficient buildings); sustainable waste management; sustainable land use (including sustainable forestry and agriculture); and biodiversity conservation. The list provided by the Washingtonbased lender includes clean transportation; sustainable water management (including clean and/or drinking water); and climate change adaptation. Bonds that aim to finance ocean and marine conservation are dubbed Blue bonds. “Investors in green bonds expect information from issuers in sufficient detail to allow them to assess green bond offers, such as how issuers track and use green bond proceeds and how they report the positive impacts expected from green projects,” the report stated. Social bonds, meanwhile, are aligned to ICMA’s Social Bonds Principle (SBP). Hussain and Joseph said the proceeds of these bonds are directed specifically towards projects and activities that have a positive social impact. Some examples of these bonds are gender bonds. In May, United Nations Women estimated that it would take centuries to meet Sustainable Development Goal (SDG) 5, which Continued on I2

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Continued from I1

aims to achieve gender equality and empowerment of all women and girls. Gender bonds can be used to specifically address these SDG needs. The World Bank said the thematic bond market has expanded to include sustainability-linked bonds which do not earmark proceeds for specific projects or expenditures. Instead, issuers commit “to meeting predefined key performance indicators within a timeline for defined sustainability policies and actions.” These indicators, the Washington-based lender stated, must be “verifiable and ambitious.” If the indicators are not met, the borrower is expected to increase its coupon payment to investors. “In the case of use-of-proceeds bonds, the issuer discloses the types of projects that will be financed and the processes established to identify eligible assets and expenditures, tracks the allocation of bond proceeds, and reports the allocation of bond proceeds to eligible projects and the environmen-

tal impact of the projects supported,” stated the World Bank report released in October 2022.

Dollar signs

GLOBALLY, the World Bank said as of 31 June 2023, the cumulative amount of sustainability and social bonds issued in the market reached $750 billion and $650 billion, respectively. These bonds have been issued by public, private and international financial institutions, including the World Bank. Hussain and Joseph said the data and details on the bonds and the purposes of the bonds are derived from various sources. They said Bloomberg and Dealogic are two of the data providers that track information on the number, amounts, and use of proceeds of these bonds. “In early 2022, the Philippines issued its inaugural sustainability bonds link under its Sustainable Finance Framework link. It has subsequently raised follow-on issuances in the market,” Hussain and Joseph said. Based on the latest Asia Bond Monitor, ADB said Sustainable

bonds in the Association of Southeast Asian Nations (Asean) Plus 3 region, which includes 10 Asean countries, China, Korea and Japan, sustainable bonds outstanding reached $694.4 billion at the end of June 2023. The report said sustainable bonds in the region grew 31.5 percent year-on-year and 5.1 percent quarter-on-quarter in the second quarter of 2023. ADB said the quarterly expansion was in line with the growth in the global sustainable bond market at 5.5 percent q-o-q during the same period. This brought the total global sustainable bonds outstanding to $3.6 trillion at the end of June. Tian said there are 3,812 outstanding sustainable bonds in the Asean+3 region as of the end of the second quarter of 2023. This covered green bonds, social bonds, sustainability-linked, and transition bonds. “It really started to explode in 2020. Of course it is on the trend of climbing,” Tian said. “[2020 marked the year] when there was greater awareness of these social and environmental issues. Espe-

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SUSTAINABLE FINANCE: From ‘greed’ to ‘green’ is good

cially for social, we saw an explosion of social bonds in 2020. I think during the pandemic, there was a lot of concerns about how to secure the social safety nets, how to support the vulnerable.” Tian said in the Philippines, there are 26 sustainable bonds which amount to roughly $8.5 billion. This includes 12 green bonds for environment projects; 1 social bond for social issues such as gender; and 13 sustainability bonds, whose proceeds may be used for social and/or environmental projects. In March 2022, the Philippines tapped the international capital markets for the first time with its offering of $2.25-billion triple tranche: 5-year, 10.5-year and 25year Global Bonds. The new 5-year Global Bonds were priced at US Treasury spreads of T+ 90 basis points (bps) with a coupon of 3.229 percent, after an initial price guidance of T+ 125 bps area; while the new 10.5-year Global Bonds were priced at T+ 125 bps and a coupon of 3.556 percent, after an initial price guidance of T+ 165 bps area. Further, the new 25year Global Bonds were priced at 4.2 percent, which is 50 bps tighter than initial price guidance of 4.7 percent area. The Department of Finance (DOF) statement noted that the 25year Global Bonds were issued under the country’s Sustainable Finance Framework and marks the Philippines’s debut ESG Global Bonds offering. The transaction also marks the first triple tranche US dollar offering from the country.

Small players

IN an interview with the BusinessMirror, Bangko Sentral ng Pilipinas (BSP) Assistant Governor Lyn Javier said sustainability bonds help diversify the risks in the financial system. Javier said the issuance of these bonds also helps promote efforts to match long-term funding sources with long-term capital uses as well as facilitate funding for the country’s priority sectors. She said the BSP encourages capital market development such as through the issuance of these bonds, among other efforts. This has allowed major banks to increase their participation in the ESG financing space through the creation of innovative products. These innovations include the issuance of social bonds at the height of the pandemic to finance the needs of micro, small, and medium enterprises (MSMEs) and a recent issuance of blue bonds. Even small financing institutions are also able to participate in the ESG financing space. Last

July, ASA Philippines Foundation Inc. (ASA), the country’s leading microfinance non-government organization, issued P5 billion worth of gender bonds, the first in the Philippines. The issuance is a 5-year fixed rate corporate note that intends to be used as working capital to its lending to women, their principal borrowers, to empower them and achieve financial inclusion for vulnerable and indigent women in the Philippines. The classification was certified by social bond second-party opinion provider DNV (made possible through the technical assistance provided by the Asian Development Bank) and registered with the Securities and Exchange Commission (SEC). “This means that smaller financial institutions could also tap the capital market to fund and prioritize projects pursuing the sustainability agenda. This would open doors now for smaller institutions like the micro, small and medium enterprises to tap the domestic capital market to fund transition projects or activities to promote adaptation as well in their adaptation and resilience in their operations. So this actually opens a lot of opportunities for the different stakeholders to have the financing needed in their transition plans,” Javier explained. These efforts even from small players can contribute significantly to the country’s needs to undertake projects such as those that can help adapt to and mitigate climate-change impacts. Javier said in order to meet the country’s climate goals, the Philippines needs $168 billion, so that’s from 2020 to 2030. Javier said developing countries in general would need $340 billion annually by 2030 and up to $565 billion by 2050 for adaptation efforts, while mitigation efforts would reach $850 annually by 2030. In order to encourage banks and other financial institutions to issue more of these sustainable bonds, Javier said the BSP has exposed for comments the regulatory incentives that they are proving to promote sustainable finance. These incentives, she said, include increasing the single borrower’s limit by 15 percent—for a very limited time period—to promote investments in sustainability products and infrastructure projects. Javier also noted that the BSP is proposing to gradually reduce the reserve requirement for bonds to zero percent in its bid to encourage banks to issue sustainability

bonds. Key to this is to also encourage banks to create products that will finance transitional activities for MSMEs. She said these transition activities may not necessarily be green activities but are crucial in the overall effort to achieve net zero. “We have to have financial products for the vulnerable sector to assist them also in the transition. And we have to also relay these views also to the region as well as into the international market,” Javier said.

Green washing

TIAN said that while ADB does not have data on the impact of these bonds on a per-project or bond basis, there are mechanisms put in place to ensure that these bonds achieve their intended outcomes. She said there are mechanisms put in place such as third-party certification available to check these bonds. The ADB senior economist also said in the case of green bonds, some of them are used to finance physical assets. These include renewable energy through solar panels and wind turbines as well as green transport in the form of electric vehicles, so the public can physically see the impact of these bonds. In fact, Tian said, these kinds of third-party mechanisms can help add value to these kinds of bonds because they can easily be verified. “I will just say in the market there is also a certification or a third-party opinion to ensure that your proceeds or your investment is made on the promised area so that it can deliver the targeted impacts, although we don’t have direct data for how much impact each bond generates, but I do believe that they are contributing to both environmental and social projects or investments,” Tian said. Locally, Javier said the financial sector forum (FSF) developed the local sustainable finance taxonomy guidelines, which cover climate-change mitigation and adaptation objectives. The FSF is a voluntary interagency body composed of the BSP, SEC, Insurance Commission (IC), and the Philippine Deposit Insurance Corporation (PDIC). It provides an institutionalized framework for consultation, coordination and exchange of information relative to the supervision and regulation of the financial system, while preserving each agency’s mandate. BSP said the local taxonomy will serve as a tool to assess whether an economic activity is environmentally or socially sustainable. Continued on I3

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MSMEs in focus

THE document has also given particular focus to MSMEs in line with the thrust to promote inclusive green finance. The comment period for the guidelines ended last week. “We have to ensure that the micro, small and medium enterprises are supported in the process. We don’t want indiscriminately adoption of the sustainability agenda leaving behind the micro, small medium enterprise,” Javier said. In BSP’s first sustainability report, it featured the central bank’s participation in national and international conversations on sustainable finance, as well as its initiatives in the pipeline and future plans in pursuing the sustainability agenda. These include the development of a taxonomy, grant of regulatory incentives to promote

financing to sustainable projects and investments, and enhancements to stress testing guidelines, prudential reports, and disclosure requirements. The BSP will also build up initiatives promoting inclusive green finance as it recognizes the benefits to vulnerable sectors such as the micro, small and medium enterprises in line with the interrelated objectives of promoting sustainable finance, digitalization, and financial inclusion.

Beyond profit

THE future of development finance moving forward carves a path toward sustainability and inclusivity. But it cannot be done by one agency alone. Collaboration is key to achieve the intended results. “We have to always look for opportunities to collaborate, because it’s not a job for one man or one agency alone. So, there are several

players that we all have to see the goals of the government, our commitments and how we could contribute to achieving this commitment,” Javier said. Multilateral agencies agree. The World Bank, despite being hailed by Bloomberg as the top issuer of sustainable bonds, said greater collaboration between governments and the private sector is crucial in addressing the development needs of nations. For its part, the World Bank issues approximately $55 billion to $65 billion worth of sustainability bonds every year to finance its sustainable development activities in agriculture, education, energy, finance/trade/industry, governance, health and social services, transportation, water/sanitation and themes: gender, environment. The World Bank Sustainable Finance and ESG Advisory services team also facilitates the devel-

opment of green, blue and social bond markets in emerging markets through pre- and post-issuance technical assistance for issuers. The Washington-based lender also said they are facilitating capacity building or institutional investors in setting up Environmental, Social and Governance (ESG) strategies. They consider it part of their “mission to help facilitate the expansion of labelled issuances in the emerging markets and deliver not just the 2030 SDG, but the long-term environmental and social goals.” “As challenges emerge from the increased climate impacts and social transformations, both the public and private sector will need to facilitate investments and financing to ensure a just transition, social equity, food security, and energy access across all spheres,” Hussain and Joseph said. As for ADB, Tian said, the Ma-

nila-based multilateral development bank will focus on the development of a market ecosystem that will ensure that safeguards are in place for these kinds of investments. Multilateral institutions can act as “rating agencies” that watch out for green washing risks. These governance mechanisms are important especially in light of the potential for these bonds to expand to beyond 2030, the deadline of the Sustainable Development Goals (SDGs). This is also especially the case given that, at the end of the day, these are debts that must be repaid. She said even if the growth in sustainability bonds has significantly increased, there is still a lot of room to grow. At least in the Asean+3 region, three-fourths or 70 percent of the bonds were issued by the private sector. This means there is more space for government-issued sustainability bonds.

“The market is still developing. I would say especially in Asean+3, we do have more scope to attract more local currency financing and long-term financing. So, as the market gradually develops, we will see more local current long-term local currency financing to support these sustainable projects,” Tian said. With all these developments happening and the bold new ways to address the world’s development constraints, it may be surmised that humanity is heading to a very different future, far from greed and profit. Through these efforts, green may soon become not just the color of money but also the color of hope that one day, all can take part in the planet’s bounty longer than anyone can see within their lifetimes. Gordon Gecko may just turn green with envy.

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Thursday, October 12, 2023 J1

LOOK! Even cows and carabaos, pigs too,

TURNING TO AI

By Jasper Emmanuel Y. Arcalas

HE livestock sector has long embraced AI even before the inception of ChatGPT and the Yearbook Trend. But this AI is not fueled by machine learning. It is driven by heat. It is not artificial intelligence, but artificial insemination (AI).

For more than a decade now, the Department of Agriculture (DA)—through its attached agencies—has been using AI to boost local meat production. Dubbed the Unified National Artificial Insemination Program or UNAIP, the DA sees AI technology as one of the means to improve raisers’ profit. “The UNAIP aims to provide better opportunities for livestock farming communities by enhancing productivity and competitiveness through institutionalized AI delivery systems at the village level,” the Bureau of Animal Industry (BAI), which spearheads the UNAIP, told the BusinessMirror. The UNAIP is a collaboration of multiple attached agencies of the agriculture department that are involved in livestock and dairy production. These agencies include the BAI, Philippine Carabao Center, National Dairy Authority, and all DA regional field offices. “Artificial insemination is one of the most efficient tools in effecting animal genetic improvement in contribution to farmer raiser productivity,” the BAI explained.

Targets for AI

UNDER the UNAIP, the bull frozen semen are produced by the BAI and PCC, and are then distributed through the DA’s regional field offices (RFOs). The RFOs would be the ones responsible for the distribution of the semen straws to their respective provincial veterinary and agriculture offices down even to the municipal agriculture offices. “The LGU AI technicians and village-based AI technicians will serve the frontline services to farmer clients. The same network for the reporting and monitoring system,” the BAI explained. The UNAIP program plans to accelerate AI diffusion to 30 percent of the breedable population of cattle and carabaos nationwide. It also aims to increase the conception rate of cattle and carabaos at the field level to 65 percent and 45 percent, respectively. The PCC provides AI services to interested raisers through its village-based AI technicians or VBAITs. The going rates for AI services range between P300 and P1,000, whichever is the “existing acceptable price” in the concerned locality, according to the PCC. For areas that do not have VBAITs, the conduct of AI service will be on a per schedule basis agreed upon between the PCC and the LGUs. “The strategy is to cross the native swamp buffaloes with the dairy breed following a sustained backcrossing to at least four generations to produce animals with milk- and meat-producing potentials equivalent to the purebred dairy parents,” the PCC said.

The need for registry

AGRICULTURE Undersecretary for Livestock Deogracias Victor Savellano took cognizance of the potential and opportunities that AI as a breeding technology can provide to the livestock sector. However, Savellano emphasized that part of the success of such a program would depend on the state having an established livestock animal registry. The registry, which would be a database about the country’s livestock population, would be helpful in delivering the government’s programs including AI, Savellano noted. “That program is good. But we need the registry so we will have a basis for our service,” Savellano, a former governor and congressman, told the BusinessMirror. “We need all the options [to boost livestock]. If it is effective, then we use it,” he added.

Challenges and incentives

ONE of the primary challenges being faced by the UNAIP is the lack of AI technicians nationwide, particularly at the LGU and village levels. Continued on J2

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J2 Thursday, October 12, 2023

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LOOK! Even cows and carabaos, pigs too,

TURNING TO AI Continued from J1

NONIE REYES

“To address the said challenge, the program continues to link and coordinate different NLAs with local units to provide AI training for frontline AI service providers,” the BAI said. The Department of Agriculture (DA) is also providing cash incentives to AI technicians through every calf born using the technology. From P100, the DA is now giving AI technicians a P500 incentive for every calf born. “With the aim to [help them cope] with the changing times, the 400-percent incentive increase hopes to beef up financial support and further motivate AI technicians to deliver and render more AI services at the local and village levels, increase the program’s AI diffusion rate in target breedable cattle and carabao populations, and further improve on AI efficiency,” the DA said.

The BAI foresees a bright future for AI technology in the country’s livestock sector, noting its importance in meeting the country’s growing meat and dairy demand. The DA is also set to provide awards and recognition to top-performing technicians who will be nominated and selected by the UNAIP management group. The winning outstanding AI technician will receive P20,000 while the winning Provincial AI Coordinator and Regional AI Coordinator will each get P10,000, according to the DA.

Repopulation after ASF

FOLLOWING the aftermath of African swine fever in the country’s hog sector, the DA has also turned to AI to boost its repopulation efforts nationwide. The DA has been implementing its Upgraded Swine Artificial Insemination sa Barangay (SWAIB) project that seeks to “produce good quality genetically superior processed semen.” Aside from providing the chance to produce more pigs, the use of AI also minimizes the transmission of diseases since boars will no longer be transported to service gilts and sows. “This would eliminate the traditional boar for hire in the barangays wherein boars are transported to service gilts and sows, a practice that is prone to disease transmission, lower fertility and poor quality genetics,” the DA said. “With this project, disease transmission is prevented, one boar can service many gilts and sows through collected, processed and stored semen, and can provide improved quality genetics,” the DA added. The DA allotted P3.95 million for the establishment of bio-secure AI centers including the laboratory equipment and animals. Last year, the DA allocated P62.5 million for the creation of 19 Upgraded Swine AI centers in key LGUs nationwide. Each SWAIB package is worth P4.75 million, which is broken down as follows: brio-secured housing and facilities (P3.35 million), 10 breeder boars (P1 million) and AI laboratory equipment (P400,000), according to the DA. With the existing concerns of the livestock industry related to emerging diseases that compromise the supply, demand and income of the poultry and swine industries, artificial insemination in large ruminants can

provide a venue to develop the cattle industry’s population and income generation.”

Technological advancements

JUST like AI, the artificial intelligence one, the technology behind artificial insemination has also been advancing. The new reproductive techniques are deemed to be more cost-efficient as they promise higher pregnancy rate at lesser time and effort needed. One of which is the fixed-time artificial insemination (FTAI), which, according to literature, is a form of precision agriculture wherein the performance of AI—a single dose—is done at the most appropriate time. “It provides greater chance for cows to be pregnant in a short period of time,” according to Bionova Livestock Group, one of the local companies providing FTAI to farms. “It generates long-term impacts as it improves the genetics of the succeeding herd production,” it added. A study by Canada’s Beef Cattle Research Council (BCRC) showed that the use of FTAI could be more expensive than natural breeding services on a per cow basis. But FTAI would bring more profit to cattle raisers due to “improvements in calving span, calving rate, and calf weaning rate,” according to BCRC. The other advancements in reproductive biotechnology are multiple ovulation and embryo transfer technology (MOET) and in-vitro fertilization, according to the BAI. The MOET involves the fertilization of multiple eggs from a donor, with the embryos being removed to be put in various surrogate recipients. Meanwhile, in in-vitro fertilization eggs are removed from a cow and are externally fertilized and once they become embryos they are implanted to recipient cows. The BAI foresees a bright future for AI technology in the country’s livestock sector, noting its importance in meeting the country’s growing meat and dairy demand. “[There will be] increasing demand for AI activities in the country and to achieve fullscale adoption of the AI technology and other advances in reproductive biotechnology in the country,” it said.

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J4 Thursday, October 12, 2023

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In drive for better global accounting rules, insurance contracts now more transparent TANDARDS are in place to ensure a level of quality across comparable things. But standards are not set in stone. They are bound to change—to adapt to the needs of the times. And accounting standards are no different. They, too, change, albeit at a more tedious process and rate. In 2004, the International Accounting Standards Board (IASB) embarked on a project to standardize insurance contracts with the goal of making them more transparent and comparable across geographies and economies. The project was called “IFRS 4 Phase II.” IFRS stands for International Financial Reporting Standards (IFRS), which are global accounting rules set by the IFRS Foundation and the IASB. It was dubbed “Phase II” as it was the second half of the so-called “Insurance Project” of IASB’s predecessor the International Accounting Standards. IFRS 4 was the outcome of the Phase I project. “The IASB’s objective was to develop a common, high-quality standard that will address recogni-

birth to IFRS 17, replacing IFRS 4. IFRS 17 was officially published on May 18, 2017, with its initial effective date set on January 1, 2021. However, in June 2020, the IASB published an amendment to IFRS 17 following the comments of stakeholders that mostly contained challenges and concerns in complying with the new standard. The amendment also involved the deferral of the implementation of IFRS 17 by two more years, or by January 1, 2023.

So why change?

tion, measurement, presentation and disclosure requirements for insurance contracts,” according to Deloitte’s IAS Plus. It took at least 16 years before Phase II came into fruition, giving

THE IFRS 17 applies to insurance and reinsurance contracts that a firm issues, reinsurance contracts that a firm holds, and investment contracts with discretionary participation features that a firm issues. The IFRS is a set of accounting standards recognized by at least 166 countries, including the Philippines, and provides a guide on how particular types of transactions and other events should be reported in the financial statements. Former Insurance Commission (IC) Commissioner Dennis B. Funa earlier pointed out that IFRS 4 failed to “harmonize” insurance contracts in the global insurance industry. Funa argued that the IFRS 4 did not push for “harmonization” but “allowed the continued use of national standards.”

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By Jasper Emmanuel. Y. Arcalas

“From an international viewpoint, it means a variety of accounting practices across the globe. Thus, under IFRS 4, there really is no global accounting standard to speak of,” Funa said in an August 2019 column in the BusinessMirror. “Consequently, comparability of insurers across jurisdictions remained a difficulty—a matter that will later be addressed by IFRS 17,” he added. German multinational Allianz SE pointed out that the IFRS seeks to ensure “true harmonization” across insurance contracts to provide “greater” transparency to an insurer’s performance. Aside from providing greater transparency to the financial health of an insurer, Allianz explained that IFRS 17 is better than IFRS 4 because it provides “consistent” principles across all accounting aspects for contracts, and allows for easier comparison of contracts across countries. “[IFRS 17] is the first harmonized accounting model for insurance contracts,” Allianz said in a YouTube video. “[It] increases the transparency of our financials, making the value we create for our customers and shareholders more apparent. This will also make it easier for our investors to compare our performance with the performance of our competitors,” Allianz added.

year, the IC gave a deadline of January 1, 2025, because of the impact of the Covid-19 pandemic on the insurance industry. In May 2020, the IC deferred the local implementation of the IFRS 17 to two years after the effective date set by the IASB. In a circular letter issued last year, the IC required the insurance and reinsurance companies as well as health maintenance organizations (HMOs) to submit reports that would contain their respective actions taken and actions to be taken in adopting IFRS 17. The status reports must include the approved budget for the IFRS 17 programs and activities, training of key personnel and officers, determination of key accounting policies, identification of data requirements, conduct of financial impact analysis, among others. The IC also required the concerned entities to provide additional disclosures in the notes to their financial statements starting this year if they are not yet adopting IFRS 17 this year. The additional disclosures include information about the insurers’ IFRS 17 implementation project, operational impacts of the new standard, quantitative information on the size of their contractual service margin, and expected impact on net worth, among others.

The pie slices

InLife’s perspective

THE huge change in IFRS 17 is that it now “takes into account” the long-term nature of an insurance business in consideration of the uncertainties that it faces, according to Allianz. IFRS 17 primarily measures the liabilities of insurers. Under IFRS 17, insurers are now required to report their contractual service margin (CSM), which measures the profits that they would realize over a given period across all contracts that they hold. Allianz likens the CSM to slices of a pie. “IFRS 17 does not allow us to recognize any of these profits when we issue the contract but lets us recognize it slice by slice as we fulfill our promises to our policy-holders over time. The slice represents the profit for the period,” it said. “Making estimates of all the cash inflows and outflows requires us to look a long way out in the future, particularly for our long duration of our life health business,” it added.

Local context

EVEN if the implementation of the IFRS 17 took effect globally this

FOR the 113-year-old Insular Life Assurance Co. Ltd. (InLife), the country’s first Filipino life insurance, the adoption of IFRS 17 will “significantly” impact “the measurement and reporting of these contracts on our financial statements.” “The new standard is giving rise to a profound change in the financial reporting landscape of the insurance industry,” InLife Chief Transformation Officer Efren C. Caringal Jr. told the BusinessMirror in an e-mail interview. Aside from transparency and consistency in accounting, Caringal pointed out that IFRS 17 would “enhance” risk management by insurers as it mandates a “more explicit recognition” of the risks associated with insurance contracts on balance sheets. “This increased clarity and uniformity in reporting, inherent in this global standard, can help deepen our members’ understanding of InLife’s financial performance. We see an opportunity to further enhance the quality of information available to our members,” he said.

InLife has been “rigorously” preparing for the adoption of IFRS 17, Caringal claimed. Caringal explained that the adoption of the IFRS 17 has “involved substantial investments in technology and training to ensure the smooth integration of the new standards into existing frameworks.” “Our preparations include conducting thorough impact assessments to gauge the prospective implications of IFRS 17 on our financial statements and overall operations,” he said. “Moreover, we have revamped our financial systems and processes to adhere to the new accounting prerequisites and provided extensive staff training on the updated requirements,” he added. Caringal admitted that the adoption of the new accounting standard came with challenges. For one, the IFRS 17 requires a “deep understanding” and “careful implementation” as it involves a wide array of data to be analyzed, he noted. “For instance, the extensive data requirements of IFRS 17 mandate us to collect and analyze a vast amount of data. To navigate these challenges, InLife has been collaborating intensively with our auditors, advisors and strategic partners with expertise,” he said. “We have invested in relevant technologies and team training. We have created a governance structure for the project, communicating regularly across our teams. This comprehensive approach will help ensure InLife’s seamless transition and adaptation to the IFRS 17 reporting,” he added. Furthermore, the IFRS 17 may “potentially” impact the “cost structures” of insurers because of the need for more “explicit” recognition of risks and the value of insurance contracts on balance sheets, InLife Senior Vice President and Chief Actuary Jesselyn Ocampo said. However, Ocampo pointed out that they do not see an immediate impact on the retail costs of InLife’s products because of IFRS 17. “We don’t expect any nearterm impact on retail costs of our products as a direct result of IFRS17, especially since the underlying strong business fundamentals remain the same,” she told the BusinessMirror. “However, the eventual impact will be contingent upon many factors, including the evolution of product design and market demand, competition, and other relevant regulatory frameworks,” she added.

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Thursday, October 12, 2023 K1

An app shows how ancient Greek sites looked thousands of years ago.

IT’S A GLIMPSE OF FUTURE TECH By Derek Gatopoulos & Theodora Tongas

The Associated Press

THENS, Greece— Tourists at the Acropolis this holiday season can witness the resolution of one of the world’s most heated debates on cultural heritage. All they need is a smartphone. Visitors can now pinch and zoom their way around the ancient Greek site, with a digital overlay showing how it once looked. That includes a collection of marble sculptures removed from the Parthenon more than 200 years ago that are now on display at the British Museum in London. Greece has demanded they be returned. For now, an app supported by Greece’s Culture Ministry allows visitors to point their phones at the Parthenon temple, and the sculptures housed in London appear back on the monument as archaeologists believe they looked 2,500 years ago. Other, less widely known features also appear: Many of the sculptures on the Acropolis were painted in striking colors. A statue of goddess Athena in the main chamber of the Parthenon also stood over a shallow pool of water. “That’s really impressive ... the only time I’ve seen that kind of technology before is at the dentist,” Shriya Parsotam Chitnavis, a tourist from London, said after checking out the app on a hot afternoon at the hilltop Acropolis, Greece’s most popular archaeological site. “I didn’t know much about the [Acropolis], and I had to be convinced to come up here. Seeing this has made it more interesting—seeing it in color,” she said. “I’m more of a visual person, so this being interactive really helped me appreciate it.” The virtual restoration works anywhere and could spare some visitors the crowded uphill walk and long wait to see the iconic monuments up close. It might also help the country’s campaign to make Greek cities year-round destinations. Tourism, vital for the Greek economy, has roared back since the Covid-19 pandemic, even as wildfires chased visitors from the island of Rhodes and affected other areas this summer. The number of inbound visitors from January through July was up 21.9 percent to 16.2 million compared with a year ago, according to the Bank of Greece. Revenue was up just over 20 percent, to €10.3 billion ($10.8 billion). The app, called “Chronos” after the mythological king of the Titans and Greek word for “time,” uses augmented reality to place the ancient impression of the site onto the screen, matching the real-world view as you walk around. AR is reaching consumers after a long wait and is set to affect a huge range of professional and leisure activities. Medical surgery, military training and specialized machine repair as well as retail and live event experiences are all in the sights of big tech companies betting on a lucrative future in immersive services. Tech giant like Meta and Apple are pushing into VR headsets that can cost thousands of dollars. Continued on K2

AP/PETROS GIANNAKOURIS

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An app shows how ancient Greek sites looked thousands of years ago.

IT’S A GLIMPSE OF FUTURE TECH

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BALANCING ACT: Tech’s drive to safeguard AI image generators in the mainstream arena

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K2 Thursday, October 12, 2023

Coming of Age @18

A MAN holds up a tablet showing a digitally overlayed virtual reconstruction of the ancient Parthenon temple, at the Acropolis Hill in Athens, Greece, June 13, 2023. AP/PETROS GIANNAKOURIS Continued from K1

The high price tag will keep the cellphone as the main AR delivery platform to consumers for some time, said Maria Engberg, co-author of the book Reality Media on augmented and virtual reality. She says services for travelers will soon offer a better integrated experience, allowing for more sharing options on tours and overlaying archive photos and videos. “AR and VR have been lagging behind other kinds of things like games and movies that we’re consuming digitally,” said Engberg, an associate professor of computer science and media technology at Malmo University in Sweden. “I think we will see really interesting customer experiences in the next few years as more content from museums and archives becomes digitized,” she said.

Greece’s Culture Ministry and national tourism authority are late but enthusiastic converts to technology. The popular video game Assassin’s Creed Odyssey, which allows players to roam ancient Athens, was used to attract young travelers from China to Greece with a state-organized photo contest. Microsoft partnered with the Culture Ministry two years ago to launch an immersive digital tour at ancient Olympia, birthplace of the Olympic Games in southern Greece. Culture Minister Lina Mendoni said the innovations would boost accessibility to Greece’s ancient monuments, supplementing the recent installation of ramps and anti-slip pathways. “Accessibility is extending to the digital space,” Mendoni said at a preview launch event for the Chronos app in May.

“Real visitors and virtual visitors anywhere around the world can share historical knowledge.” Developed by Greek telecoms provider Cosmote, the free app’s designers say they hope to build on existing features that include an artificial intelligence-powered virtual guide, Clio. “As technologies and networks advance, with better bandwidth and lower latencies, mobile devices will be able to download even higher-quality content,” said Panayiotis Gabrielides, a senior official at the telecom company involved in the project. Virtual reconstructions using Chronos also cover three other monuments at the Acropolis, an adjacent Roman theater and parts of the Acropolis Museum built at the foot of the rock.

By Matt O’Brien AP Technology Writer

RTIFICIAL intelligence tools that can conjure whimsical artwork or realistic-looking images from written commands started wowing the public last year. But most people don’t actually use them at work or home. That could change as leading tech companies are competing to take textto-image generators mainstream by integrating them into Adobe Photoshop, YouTube and other familiar tools. But first, they’re trying to convince users and regulators that they’ve tamed some of the Wild West nature of early AI image-generators with stronger safeguards against copyright theft and troubling content. A year ago, a relatively small group of early adopters and hobbyists began playing with cutting-edge image generators such as Stable Diffusion, Mid journey and OpenAI’s DALL-E. “The previous ones were an interesting curiosity,” but businesses were wary, said David Truog, an analyst at market research group Forrester. A backlash followed, including copyright lawsuits from artists and photo stock company Getty, and calls for new laws to rein in generative AI technology’s misuse to create deceptive political ads or abusive sexual imagery. Those problems aren’t yet solved. But a proliferation of new image generators say they’re business-ready this time. “Alexa, create an image of cherry blossoms in the snow,” is the kind of prompt that Amazon says US customers will be able to speak later this year to generate a personalized display on their Fire TV screen. Adobe, known for the Photoshop graphics editor it introduced more than three decades ago, was the first this year to release an AI generator designed to avoid legal and ethical problems created by competitors who trained their AI models on huge troves of images pulled off the internet. “When we talk to customers about generative technology, mostly what we hear is a lot of the technology is really cool, but they don’t feel like they can use it because of these questions,” said Adobe’s chief technology officer for its digital media business, Ely Greenfield. That’s why Adobe’s product, called Firefly, was built on its own Adobe Stock image collection, as well as content it has licensed. Stock contributors also are getting some compensation out of the arrangement, Greenfield said. “Adobe Firefly is clean legally, whereas the others are not,” said For-

rester’s Truog. “You don’t really care about that if you’re just some dude having fun with generative AI.” But if you’re a business or a creative professional thinking about using images on your website, apps, or in print layouts, advertising or email marketing campaigns, “it’s kind of a big deal,” Truog said. “You don’t want to be getting into trouble.” Some competitors are taking note. ChatGPT-maker OpenAI unveiled its third-generation image generator DALL-E 3 on Wednesday, emphasizing its impressive capabilities and future integration with ChatGPT along with new safeguards to decline requests that ask for an image in the style of a living artist. Creators can also opt to exclude their images from training future models, though Truog notes that OpenAI hasn’t said anything “about compensating authors whose work they use for training, even with permission.” In separate New York City showcase events Thursday, both Microsoft and Google-owned YouTube also unveiled new products infused with AI image generation. Microsoft, a major investor in OpenA I, showed how it is already starting to bake DALL-E 3 into its graphics design tools, mostly for background editing, as well as its Bing search engine and chatbot. YouTube revealed a new Dream Screen for short YouTube videos that enables creators to compose a new background of their choosing. Earlier this month, both Adobe and Stability AI, maker of Stable Diffusion, joined a larger group of major AI providers including Amazon, Google, Microsoft and OpenAI that agreed to voluntary safeguards set by President Joe Biden’s administration. One safeguard requires companies to develop methods such as digital watermarking to help people know if images and other content were AI-generated. Microsoft executives said the company has built filters to determine what kinds of imagery can be generated from text prompts in Bing, citing those made with top political figures as content to monitor. The goal is “to make sure it’s not producing types of content we would never want to produce, like hateful content,” said Sarah Bird, Microsoft’s global head for responsible AI. In a demonstration to an Associated Press reporter, a prompt that asked Microsoft’s new tool for an image of “Hillary Clinton rock climbing” was met with rejection Thursday. “Oops! Try another prompt,” was the response. “Looks like there are some words that may be automatically blocked at this time.”

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Thursday, October 12, 2023 K3

The UN’s top tech official discusses AI, bringing the world together and what keeps him up at night U

By Jennifer Peltz | The Associated Press

way: going beyond this dichotomy of “promise and peril”—which often comes up in the minds of those who have agency, who have the capability to do this—to a more nuanced understanding where access to opportunity, the empowerment dimension of it, beyond “the promise and the peril,” is also front and center. So, yes, there is the opportunity, there is the excitement. But how to seize the opportunity is a very, very important question.

NITED NATIONS—Artificial intelligence, and how and whether to regulate it, has gotten a lot of discussion in and around this year’s UN General Assembly meeting of world leaders. With a UN advisory group on AI set to convene this fall, the world organization’s top tech-policy official, Amandeep Gill, sat down with The Associated Press to talk about the hopes, concerns and questions surrounding AI. Here are excerpts from the interview, edited for length and clarity.

AP: A number of national governments and multinational groups are talking about or beginning to take action on setting guardrails for artificial intelligence. What can the UN bring to the table that others can’t? GILL: I’d say three words. Inclusiveness—so bringing a lot many more countries together, compared with some of the very important existing initiatives. The second one is legitimacy, because there is a record of the UN helping countries and other actors manage the impact of different types of technologies, whether it’s bio, chem, nuclear, space science—not only preventing the misuse, but also promoting inclusive use, peaceful uses of these technologies for everyone’s benefit. The third one is authority. When something comes out of the UN, it can have an authoritative impact. There are certain instruments at the UN—for example, the human-rights treaties—with which some of these commitments can be linked. [For example, if an AI feature] leads to the exclusion of

a certain community or the violation of the rights of certain people, then governments have an obligation, under the treaties that they have signed at the UN, to prevent that. So it’s not just a moral authority. It creates a kind of compliance pressure for living up to whatever commitments you may sign up for. AP: At the same time, are there challenges that the UN faces that some of the other entities that are active on this don’t — or don’t to the same extent? GILL: When you have such a big tent, you have to have a good process that’s not just about ticking the box on everyone being there, but having a meaningful, substantive discussion and getting to some good outcomes. The related challenge is getting the private sector, civil society and the technology community involved meaningfully. So this is why, very consciously, the Secretary General’s advisory body on AI governance is being put together as a multi-stakeholder body. A third limitation is that UN processes can be lengthy because consensus-building across a large

AMANDEEP SINGH GILL, the United Nations tech policy chief, speaks during an interview with The Associated Press, Friday, September 22, 2023, at UN headquarters. AP/MARY ALTAFFER

number of players can take time, and technology moves fast. Therefore, we need to be more agile. AP: Can governments, at any level, really get their arms around AI? GILL: Definitely. I think governments should, and there are many ways in which they can influence the direction that AI takes. It’s not only about regulating against misuse and harm, making sure that democracy is not undermined, rule of law is not undermined, but it’s also about promoting a diverse and inclusive innovation ecosystem so that there is less concentration of economic power and the opportunities are more widely available.

AP: Speaking of equal opportunities, some people in the Global South hope AI can close digital divides, but there’s also concern that certain countries may reap the technology’s benefits while others get left behind and left out. Do you think it’s possible for everyone to get on the same page? GILL: That’s a very, very important concern, something that I share. For me, it’s a reason for everyone to come together in a more nuanced

AP: There’s a lot of talk about bringing together the conversations going on around the world about regulating AI. What do you think that means, and how can it be realized? A: Having a convergence, a common understanding, of the risks, that would be a very important outcome. Having a common understanding on what governance tools work, or might work, and what might need to be researched and developed, that would be very valuable. A common understanding on what kind of agile, distributed model is needed for governance of AI—to minimize the risks, maximize the opportunities—would be very, very valuable. And finally, having a common understanding of the political decision we need to

take next year at the Summit of the Future (a UN meeting planned for September 2024), so that our effort across those functionalities is sustainable and has the public’s understanding and the public’s trust. AP: When it comes to AI, what keeps you up at night? And what makes you hopeful when you wake up in the morning? GILL: Let me start with the hopeful side. What really excites me is the potential to accelerate progress on the Sustainable Development Goals by leveraging AI, particularly in the priority areas of health, agriculture, food security, education and the green transition. What worries me is that we let it go forward in a way that, one, deludes us about what AI is capable of; and two, leads to more concentration of tech and economic power in a few hands. These may be very well-intentioned individuals and companies, but democracy thrives in diversity, in competition, in openness. So I hope that we take the right direction and that AI does not become a means to kind of subvert democracy, to delude society at large and reduce our humaneness. Those are the kind of questions that I worry about, but I’m overall very optimistic about AI.

K4 Thursday, October 12, 2023

Special Feature

SHAPING A FUTURE-READY ENERGY INDUSTRY THROUGH MERALCO POWER ACADEMY’S GIGA SUMMIT

OR a developing country like the Philippines, adequacy of power supply is crucial to sustain the economic growth momentum. Also equally important, especially with the undeniable threats of climate change, is ensuring that the country continues its path towards a sustainable energy future. As the country’s largest distribution utility, the Manila Electric Company (Meralco) has been actively taking part in powering progress and future-proofing the energy industry. Through Meralco Power Academy (MPA), its energy education arm, the company spearheaded the first ever Giga Summit on Sustainable Energy, Energy Efficiency, and Future Grid – a 3-day conference that showcased insights and best practices from over 30 local and international power industry experts. Aiming to be a catalyst for change and improvement in the energy industry, Giga Summit effectively served as a platform wherein industry leaders, policymakers, and experts can discuss innovative solutions and emerging trends.

Accelerating the transition toward cleaner energy

DISCUSSIONS during the summit’s first day were centered on achieving sustainable energy by utilizing more progressive energy sources that are beneficial to the people and the planet. Nuclear power, as one of the modern technologies that have been gaining significant attention in the energy industry, expectedly took center stage. The knowledge of nuclear energy experts, including Canada-based Filipino nuclear scientist Dr. Francisco “Ike” Dimayuga of Atomic Energy of Canada Limited, Ultra Safe Nuclear Corporation Executive Vice President Roland Backhaus, University of California Berkeley Director of International Partnerships for College of Engineering Dr. Matthew P. Sherburne, and University of Illinois Urbana-Champaign, Director of Illinois Microreactor R&D Center Dr. Caleb Brooks, added immeasurable value to the summit. To further support the Philippines’ push for the integration of nuclear power in the country’s energy portfolio, Meralco also launched the Filipino Scholars and Interns on Nuclear Engineering (FISSION) program during the summit. According to Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan, the company intends to invest in local talents and support aspiring Filipino nuclear engineers to help accelerate the development of nuclear power through education and training in the

highly specialized field of nuclear engineering. The readiness to roll out this initiative to help the country develop local nuclear energy experts was first communicated by Mr. Pangilinan in March 2023. He also underscored the importance of establishing a regulatory framework and cultivating a pool of skilled professionals to lead the adoption and advancement of nuclear energy in the Philippines. Meralco is eyeing top global engineering universities, including the University of California Berkeley, the University of Illinois, the Korea Advanced Institute of Science and Technology, the University of Ontario Institute of Technology, and Université Paris–Saclay, for FISSION. Scheduled to run from 2025 to 2027, this two-year program will be offered to graduates and practitioners in Mechanical, Electrical, Materials, and Metallurgical Engineering, Physics, and other related disciplines. Following the academic phase, the selected scholars will also undergo a one-year immersion and internship from 2027 to 2028 at partner SMR (Small Modular Reactor) and MMR (Micro Modular Reactor) facilities abroad like Atomic Energy of Canada Limited (AECL) and Ultra Safe Nuclear Corporation (USNC). Upon completion of the graduate and internship programs, there will be a Re-entry Action Plan to facilitate the scholars’ return to the Philippines in 2029. The scholars are expected to render their expertise to the company and the Philippine government. “Hopefully, this is the start of exploring and considering seriously new options for this country to achieve a smarter and greener future,” Mr. Pangilinan said.

At the forefront of electric mobility development

ALSO, among the main topics discussed during the Giga Summit were the numerous ways to optimize energy consumption, a key strategy in lowering greenhouse gas emissions, such as implementing measures and deploying technologies that promote the efficient use of energy across various sectors, especially in transportation. Meralco Senior Vice President and Chief Revenue Officer Ferdinand O. Geluz, in his speech, highlighted how Meralco, through its wide array of programs and initiatives, has been

supporting the government’s push on energy efficiency and conservation. With transportation identified as the primary contributor to greenhouse gas emissions in the Philippines, implementing sustainable mobility solutions such as adopting electric vehicles (EVs) has become an urgent priority for the government. In April 2022, Republic Act No. 11697 or the Electric Vehicle Industry Development Act (EVIDA) was enacted, driving the country towards a new era of eco-friendly mobility. The act outlined a comprehensive framework that encourages the development, production, and adoption of EVs across the archipelago. Through its network and capabilities, Meralco intends to be at the forefront of the electric mobility development in the Philippines. Mr. Geluz shared that with the successful electrification of 156 or 7% of the company’s vehicles, Meralco already exceeded the 5% mandatory EV share of corporate and government fleets under the EVIDA Law. By 2030, the company targets to electrify at least 25% of its vehicle fleet through its Green Mobility program. Meralco’s current fleet of EVs comprises e-cars, e-vans, e-pickups, and e-motorcycles, which serve the daily operational needs of the company’s sector offices and business sectors. To support the charging requirements of these EVs, Meralco has also installed 39 EV chargers in its different offices across its franchise area. The company, through its green mobility unit Movem Electric Inc., also partners with like-minded organizations and institutions to promote a cleaner and more sustainable transportation system. It has so far deployed 247 EVs and installed 139 charging stations for private sector partners and institutional clients.

Transitioning to the grid of the future

ON the last day of the Giga Summit, the need to fast-track the development and integration of advanced metering infrastructure (AMI) to meet the growing demand for a smarter and more resilient energy infrastructure was emphasized. Meralco Executive Vice President and Chief Operating Officer Ronnie L. Aperocho discussed the vital role the distribution utilities such as Meralco plays in the energy transition through the grid of the future. In his speech, Mr. Aperocho shared how the company supports the energy sector in the face of unprecedented disruptions, anchored to the global push to do the 4Ds – Decarbonize, Digitalize, Decentralize, and Democratize, in addressing the threats of climate change. Meralco has already rolled out various initiatives aimed at helping decarbonize the grid. The company embarked on a smart grid journey enabled by cross-cutting information technology/operational technology (IT/

MERALCO is targeting to complete at least 25% fleet electrification by 2030 under its Green Mobility Program.

“MERALCO will send some of our engineers to a two-year graduate program targeting local talents who are graduates and practicing Mechanical, Electrical, Material Engineering, and related areas in universities in the US, in Canada, Korea, Japan, France,” Meralco Chairman and CEO Manuel V. Pangilinan said.

MERALCO Executive Vice President and Chief Operating Officer Ronnie L. Aperocho underscored the vital role that distribution utilities like Meralco play in the transition to the grid of the future to ensure energy security, resilience of energy infrastructure, and competitiveness of the energy sector. OT), communications, and cybersecurity technologies. A key highlight mentioned by Mr. Aperocho is the deployment of 140,000 smart meters, most of which were used by the company for its prepaid electricity program, covering small, selected parts of its franchise area. Utilizing smart meters enables Meralco to use a customer-centric and proactive approach in its operations, directly benefiting its customers by providing them with near-real time feedback on their electricity consumption. Capitalizing on the abundance of data provided by smart meters and through its AMI program, the company uses an advanced outage management system to gain operational visibility down to the household level and detect outages, enabling faster response time without relying on customer reports. Mr. Aperocho also shared how Meralco drives other initiatives in its continuing bid to help accelerate the energy transition such as the utilization of Energy Storage Systems to improve its network operations. In 2018, Meralco successfully piloted a gridscale battery energy storage system (BESS) in San Rafael, Bulacan, to demonstrate its capability to deliver multiple distribution ancillary services. This was followed by the completion of the pilot on mechanical-type ESS using a long-duration flywheel technology used within the company’s in-house research and training facility aptly called Power Tech. Over the next few years, Meralco aims to pioneer the use of pole-mounted BESS to increase the hosting capacity of low-voltage networks and mobile BESS to provide backup power during planned line maintenance works. Furthermore, Meralco also started employing renewable energy-based microgrids using solar and battery technologies for offgrid electrification to expand energy access and provide reliable, affordable, and sustainable power for all.

“The energy landscape is evolving rapidly, bringing a lot of challenges. I am optimistic that we can overcome these if we commit to fulfilling our roles and obligations, work together to achieve our common goal, and have the proper mindset to innovate and deliver effective energy solutions,” Mr. Aperocho said. Stemming from the company’s advocacy to contribute to strengthening the power industry, Meralco also hosted over 100 electric cooperatives (ECs) during the Giga Summit so they, too, could learn from global experts and adopt best practices in energy management and advanced metering infrastructure. This initiative recognizes the important roles of ECs in the evolving energy landscape, empowering them to further improve their operations and the services they deliver to their respective stakeholders. The Giga Summit was supported by MPower, Vantage Energy, First Philippine Electric Cooperation, PPI Pazifik Power Inc., Siemens, and Exist Software Labs, Inc.

Advocating electrical safety and energy efficiency through the K-Ligtas Awards

AS the country’s premiere electric distribution utility, Meralco advocates safety and considers it a cornerstone of its operations. To encourage customers and stakeholders to become champions of safety, MPA formally announced the launch of the 5th K-Ligtas Awards at the recent event. K-Ligtas, which stands for Kuryenteng Ligtas, is Meralco’s electrical safety advocacy program in collaboration with the Philippines’ premiere authorities in electrical systems, labor management, and public safety, including the Department of Energy (DOE); Department of Labor

and Employment – Occupational Safety and Health Center (DOLE-OSHC); Professional Regulation Commission Board of Electrical Engineering; and the Bureau of Fire Protection (BFP) among others. Through the awards program, Meralco honors organizations and businesses for observing excellent practices in electrical safety and energy management, and invaluable heroism in promoting safe and energy efficient workplace. “As we celebrate MPA’s ten years of industry thought leadership, we will recognize the unsung heroes of electrical safety and energy efficiency excellence in the 5th K-Ligtas Awards,”MPA Executive Director Ian Chester V. Colorina announced, with the winners expected to be announced in the second quarter of 2024. Launched in 2015, K-Ligtas is the first electrical safety excellence awards program in the country that formally recognizes exemplary companies and institutions that have successfully integrated electrical safety and outstanding work practices into their respective corporate culture and have demonstrated commitment and outstanding results in the field of electrical safety. Previous K-Ligtas Awardees include organizations, institutions, and businesses from the commercial and industrial sectors, local government units, and schools across Meralco’s franchise area. Some notable examples are companies such as Samsung, Wyeth, Nestle, and Hotel Jen. As these programs and initiatives continue to gain momentum and make a profound impact, MPA will remain steadfast to its commitment to light the way towards a more secure and sustainable energy future by empowering the new generation of skilled professionals and future industry leaders and guiding them as they shape the future of the energy sector. Meralco will likewise continue to collaborate with the government, other members of the private sector, and stakeholders to forge a culture of resilience and innovation, setting an exceptional standard for the industry to follow.

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Thursday, October 12, 2023 L1

NOT A THREAT, BUT A TOOL: Experts share insights on why smart use of AI can help humans work and live better

By VG Cabuag

SK any executive today on the driving force of innovation and the most probable answer you may get is artificial intelligence. Artificial intelligence, or AI, is now everywhere in the business sector. Erika Fille Legara, a scientist and an associate professor at Asian Institute of Management, said she cannot imagine a sector that will not be impacted by AI in one way or another. “The economics of AI is really in its predictive power. If prediction is something that is important to you, your organization…you can imagine AI would have a huge impact,” Legara said. Legara works with analytics institutions and organizations to design the right AI product used by companies.

Central bank taps AI

ONE of the clients is the Bangko Sentral ng Pilipinas, which had to review financial statements from institutions that they regulate— the banks. The BSP typically spends 20,000 man hours per month to scour through about 500 accounts, to find patterns in the data. “So we introduced AI, of course, working closely with them. And from 20,000 man hours for a month, we reduced it down to 11 minutes. So that’s more than 99 percent reduction time,” Legara said. Karl Kendrick Chua, Socioeconomic Planning Secretary during the Duterte administration and now with Ayala Corp. as managing director for data science and AI,

said his company’s engagement on AI was mostly on the business unit level. For those using GCash, the mobile payments service owned by the Ayala group, there is this scoring system that is AI-driven to understand better what the users’ activities are, and how that could guide the company help the users in terms of accessing other services. The application is also being used by Ayala-led lender Bank of the Philippine Islands. It uses AI to understand what have its customers been paying for or saving for, and input and output of cash. It analyzes how the bank can help its customers plan their savings and investment better. With AI being so efficient in doing things that a company usu-

ally takes hours to do, many have been led to conclude that it could lead to the death of many jobs. When he visited the Philippines in September, Sanjay Sarma, president, CEO and dean of the Asia School of Business in Malaysia, said that AI presents an existential episode in mankind. Simply put, he said, speech is what separates man, or human beings, from animals: the power to talk and communicate. “But suddenly, speech has been automated. Language has been automated. Actually, speech is easier than language. And this is a very existential moment, because a lot of our jobs are about language. Language and comprehension,” Sarma said. “This is a very unique time in human history. For the first time, a very fundamental aspect of the uniqueness of human beings is being taken [over] by machines,” he said. Sarma likens this episode to the introduction of automated teller machines, or ATMs, to dispense money during the late ’60s. “The immediate concern people had was that bank tellers, the human beings, would lose their jobs. That did not happen. In fact, bank tellers did something more advanced, which is selling mortgages and things like that. The job changed. Yes. So they had to become cognitive. They did the more cognitively advanced tasks,” Sarma pointed out. Sarma, also a professor of mechanical engineering at the Sloan School of Management at the Massachusetts Institute of Technology, said AI is developing at an unprecedented pace and will be everywhere soon. “I’m telling you. It’s not 10 years; it’s one or two years. The reason is that for these transforming technologies, there are now lots of Continued on L2

GENERATIVE ILLUSTRATION BY DMYTRO ZAHARCHUK | DREAMSTIME.COM

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L2 Thursday, October 12, 2023

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NOT A THREAT, BUT A TOOL: Experts share insights on why smart use of AI can help humans work and live better

—Erika Fille Legara, scientist

‘A

I is going to replace jobs. So let’s accept that. So you have to take the bull by the horns. You can’t wait for the bull to run you over. Yes, you’re going to get run over; so you might as well try and right it.’

—Sanjay Sarma, president, CEO and dean of the Asia School of Business in Malaysia

‘O

PHINMA.COM

‘S

o we introduced AI, of course, working closely with them [BSP]. And from 20,000 man hours for a month [to read banks’ financial statements], we reduced it down to 11 minutes. So that’s more than 99 percent reduction time.’

ASB.EDU.MY

companies working. And there’s millions, hundreds of millions of dollars being spent on it,” he said. While older and successfully adopted technologies such as automated teller machines took about 15 years to be widely accepted, people no longer have the luxury of time with AI. Chua said AI should be used by humans as a tool and not the other way around. “When you’re asked to write a speech, in the past, before ChatGPT [an AI application], you probably will stare at your paper for apathy; don’t know even where to start right. Now, you probably could use these tools to improve your productivity,” he said. “So what this basically means is that these tools are available for us to be used to improve our present productivity. I think we should be open to them in the future,” he said. Like many executives, Ramon del Rosario, chairman and CEO of Phinma Corp., was worried about the intended purpose to misuse the technology; to sow wrong information to the public. “One of the problems is technology has been bought, some were misused; and one of the most evil [forms of] misuse, evidence of misuse of technology, has been the spread of disinformation in our society. I guess my question really is, can artificial intelligence be used to overcome the effects of disinformation? And if so, is that not something that is worth looking into and pursuing, so that we can correct the impact of this massive effort to spread disinformation?” According to Legara, that’s where one’s values would come in. “Because yeah, at the end of the day, you’re right, it’s a tool. I can choose to use it for good. I can choose to use it to worsen things,” she said, but gave little answer to del Rosario’s queries. Sarma said the Philippines, which still values the family and network system, should lead the world on how to properly use AI. “AI is going to replace jobs. So let’s accept that. So you have to take the bull by the horns. You can’t wait for the bull to run you over. Yes, you’re going to get run over; so you might as well try and right it,” he said.

AIM.EDU

Continued from L1

ne of the most evil forms of misuse of technology has been the spread of disinformation in our society. I guess my question really is, can artificial intelligence be used to overcome the effects of disinformation? And if so, is that not something that is worth looking into and pursuing, so that we can correct the impact of this massive effort to spread disinformation?’

—Ramon del Rosario, chairman and CEO, Phinma Corp.

BusinessMirror

www.businessmirror.com.ph

Thursday, October 12, 2023

Go all the way for the Holidays with Megaworld Hotels and Resorts

ET excited for the merriest season of the year. Look forward to heartfelt moments with family and friends that truly spark joy. For the list of things to do and gifts to place under your tree, check out what Megaworld Hotels and Resorts (MHR) got ready for you across their 12 hotels.

The Philippines’ largest homegrown hospitality management chain brings you a compilation of this year’s corporate giveaways, party venues, and vacation packages perfect for solo travelers and family getaways. Here’s MHR’s Festive Offers 2023 giving you a full directory of items you can enjoy for the holidays. https://

bit.ly/FestiveOffers2023. Keep the tradition of gift giving alive. Show how much you appreciate your corporate partners, clients, and friends by sending them something to celebrate an amazing year that was. Richmonde Hotel Ortigas in Pasig, Hotel Lucky Chinatown in Binondo, or Belmont Hotel Manila at the Newport in Pasay

Feel the holiday cheer and enjoy a hearty feast fit for the season at Twin Lakes Hotel this Christmas and New Year

gives you options from vouchers, charcuterie boxes, and holiday hampers to share and take home. Plan seamless parties and homecoming events. Live celebrations are back and huge gatherings will soon fill up your schedules. Make sure to do it in venues that will fit your theme, requirement and offers convenient accessibility to avoid the season’s

traffic jams and delays. Eastwood Richmonde Hotel in Quezon City, Kingsford Hotel Manila located at the Westside City in Paranaque, Savoy Hotel Manila in Newport Pasay gives you strategic locations with amazing spaces, great service, and good food. Take a trip this season. Spruce up your traditions and bring yourself or entire family to getaway

Go on a trip to Boracay and stay either in Savoy or Belmont Hotel Boracay for the holiday festivities.

destinations like Savoy or Belmont Hotel Boracay at the Newcoast, Twin Lakes Hotel in Tagaytay, Richmonde Hotel in Iloilo Business Park, or even Savoy or Belmont Hotel at Mactan Newtown. Plan a relaxed staycation in the city, a fun trip at the beach or what have you. Enjoy room stays with Christmas eve dinner and New Year’s Eve countdown party packages. With

the right people, you’ll always have a good time wherever you take it this year! Experience the best of the holidays this year with the people who matters to you with Megaworld Hotels and Resorts. For more information, you may reach them through salesinquiry@megaworldhotels. com or call 09277433559.

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Asia-Pacific’s only American cemetery is an up-and-coming major tourist attraction

MINDAUGAS DULINSKAS | DREAMSTIME.COM

By Benjamin Layug

EMORIAL Day, which is celebrated on the last Monday of May (this year on May 29) in the United States, may not be a national holiday here but it is celebrated at the 61.5-hectare, sobering but serenely beautiful Manila American Cemetery and Memorial. It is the largest of 26 cemeteries and 29 memorials, monuments and markers in 16 countries built and administered by the American Battle Monuments Commission (ABMC), both in area and number of graves, and the only overseas American cemetery in the Pacific.

M2 Thursday, October 12, 2023

Coming of Age @18 BusinessMirror

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Asia-Pacific’s only American cemetery is an up-and-coming major tourist attraction

TABLETS of the Missing. Inscribed on the floor are State Seals. BENJAMIN LAYUG

THE monumental bas-relief above the entrance to the Memorial Chapel. BENJAMIN LAYUG Continued from M1

On that very day, American and Filipino flags are placed beside each marble headstone and a program spearheaded by the US Embassy, the American Association of the Philippines, the ABMC and the Armed Forces of the Philippines is held. Today, this tranquil, parklike space, in the midst of bustling Taguig City, is a major tourist destination and the environment here is beautiful and the atmosphere is solemn. Every hour, between 9 am and 5 pm, a carillon sounds to mark the hour and half hour. At 5 pm, the carillon plays the national anthems of both the US and the Philippines, followed by a volley of rifles and the playing of Taps. The memorial had its beginnings 75 years ago when, on April 1, 1948, right after the war, the Philippine government granted the US permission to establish a memorial cemetery on the site of Fort McKinley (now Fort Bonifacio). Designed by American Architect Gardener A. Dailey, construction started soon after but the cemetery was only dedicated, more than a decade later, on December 8, 1960.

Buried brothers

WITHIN the cemetery are 17,206 graves of soldiers killed during World War II. Of the total, 16,636 personnel were mostly Americans from every state in the US and District of Columbia while others were from other countries. They include 20 sets of brothers (including the five Sullivan Brothers whose deaths influenced the creation of the Sole Survivor Policy) lying next to one another. Also buried are 570 Filipinos who served with US forces as Philippine Scouts. Many of the personnel whose remains are interred or represented were killed in New Guinea, or during the epic

defense during the Battle of the Philippines (1941 to ’42) and East Indies and the long but victorious return of American forces through the vast island chain up. Twentynine Medal of Honor recipients are also buried or memorialized here. The solid white marble (the majority quarried and fabricated from Lasa or Carrara in Italy and more than a 100 from Romblon, Philippines) headstones, all in a straight line, mark each grave mostly with a Latin Cross (with a Star of David for 166 others of the Jewish faith). They are simply inscribed with the name, rank, branch of service, home state and date of death of the one interred. The headstones are aligned in 11 plots forming a generally circular pattern. A 60-foot-high white masonry tower, enriched with sculpture and mosaic, stands near the center of the cemetery. Its exterior has a bas-relief of superimposed groups, designed by Boris Lovet Lorski of New York City and executed by Filipino Cecchetti (who also furnished the stone for the memorial), portraying a young American warrior, symbolized by St. George, fighting a dragon in jungle characteristic of the Pacific islands. Above them are the personifications of ideals which he fought for: Liberty, Justice and Country. At the very zenith of the relief stands Columbia (a symbol of the United States) and a child that symbolizes the future. The rear façade is inscribed with “Take unto thyself O Lord the souls of the valiant.”

Devotional chapel

BRONZE grill doors open into the small devotional chapel dedicated to St. George with stained-glass windows and an altar, crafted from Pentato di Sicilia marble, where you can kneel and pray. To the left is an Episcopal prayer set in gold tesserae. The prie dieu and benches

are made with narra while the altar ornaments are made of bronze. Above is an unnamed, tall and graceful female figure (which reminded me of the Virgin Mary) scattering flowers in memory of the heroic dead, decorated with mosaic on a predominantly blue background. In front of the tower, on a wide terrace, are two large hemicycle structures, each with 24 pairs of fin walls. Across, from the parking lot, is the Memorial Visitors’ Center, opened in 2019. Its main gallery explains, in great detail, the many battles (Bataan, Iwo Jima, Okinawa, Peleliu, etc.) within the Western Pacific during World War II via powerful, graphic and searing photos accompanied by clear, hard-hitting descriptions that show the extent of the true horror that was caused. On rectangular Trani (quarried near Bari on the east coast of Italy) limestone piers, within the hemicycles, are inscribed the Tablets of the Missing, grouped by Armed Service and arranged alphabetically from the south ends of each hemicycle, containing 36,284 names of people (32,532 Americans and 3,752 Philippine nationals) whose remains were never recovered or not identified. The west hemicycle lists the missing servicemen from the Navy and Marines, while the east hemicycle lists the missing from the Coast Guard, the Army and Army Air Force (it wasn’t established as a separate armed service until after the war) and part of the missing from the US Marines. A bronze rosette marks the names of those who were subsequently found, recovered and identified, while 3,660 headstones mark the graves of 7,744 “unknowns.” Four bronze plaques mark graves containing multiple remains that could not be separately identified. Continued on M3

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Asia-Pacific’s only American cemetery is an up-and-coming major tourist attraction Continued from M2

Before I got to the four rooms with the Tablets of the Missing, I passed by the walls where I found some of the 25 larger-than-life, 10-foot-high mosaic maps, designed by Margaret Bruton (from Carmel, California) and fabricated by P. Grassi American Terrazo Company of South San Francisco, recalling the timeline of how World War II started and ended, recalling the actions of the United States Armed Forces in the Pacific, China, India and Burma. Carved on the floors are the Great Seal of the United States and the seals of the States of the Union, the District of Columbia and Puerto Rico.

THE main gallery of the Memorial Visitors’ Center. BENJAMIN LAYUG

DETAIL from Tablets of the Missing. PHUONGPHOTO | DREAMSTIME.COM

Thursday, October 12, 2023 M3

XX Thursday, October 12, 2023 M4

Special Feature

JOEL C. Cruz, President, and Managing Director of South Asialink Finance Corporation

SAFC celebrates 20 anniversary with optimism, growth, and expansion th

By Anne Ruth Dela Cruz

N one of his trips to Lucena City back in 2007, Joel C. Cruz, President, and Managing Director of South Asialink Finance Corporation or SAFC, remembered encountering a crying old lady. Cruz thought that she wanted to complain about SAFC. “It turns out that that lady is one of the first borrowers of SAFC. She thankfully approached me because through SAFC, her child was able to finish 4 years of tertiary education. She started borrowing from SAFC in 2003. She would borrow either P5,000 or P10,000 and she would pay back the amount in five months. She would do that for the next four years,” Cruz recounted. “Thanks to this old lady, I realized that I made the right decision of joining SAFC and helping the company achieve its cause – to make the Filipinos’ lives better,” Cruz said.

Non-bank financial institution

CRUZ joined SAFC in 2006 after 14 years of working at the United Coconut Planters Bank or UCPB. SAFC is one of the leading non-bank financial institutions that offers a range of financial services through its extensive branch network located in Southern Luzon, National Capital Region, certain areas in North Luzon and Madaue. SAFC started as a former division of Asialink Finance Corporation in 2003 with the goal of expanding its operations in Southern Luzon.

“Before I left UCPB, the Executive Vice President asked me why I was transferring to a company that was only three years old at that time when I was already working in a 40- year-old company like UCPB. I said I wanted to help more people grow their business and I could not do that if I stayed at UCPB,” Cruz related. Cruz started out as a Letters of Credit Specialist where he would handle the accounts of importers and exporters. He then transferred to the Retail Credit where he was an Account Officer under the Retail Banking Division. While there, Cruz processed loan applications with the minimum amount of P5 million.

Loan applications

HE then moved on to Commercial Market where he handled loan applications for the minimum amount of P50 million. Cruz noted that those who applied for loans at UCPB were already well off and had some P40 to P50 million worth of assets to back up their loan applications. “I decided that it was time for me to move on to SAFC because I wanted to be able to help Filipinos grow their business. So, when I joined SAFC, we were lending out P15,000 to P20,000

to sari sari store owners and we helped them transform their sari sari stores into bigger stores,” he said. When Cruz joined SAFC, it was UCPB that was the first bank to give the financial institution a P12.5 million credit facility. SAFC was able to use that credit line to expand the business. SAFC had seven branches in 2006 with 67 personnel. When 2023 ends, SAFC is expected to have 48 branches, currently they are employing a total of 451 allFilipino workforce. SAFC is expected to add an additional 25 branches next year. “Every time we have meetings with the branches, I tell them the reason why we were able to grow much faster due to our ability to access credit facilities with Banks. And that is what we want to duplicate and replicate with our customers. Let’s help them grow their business because if the banks do not process their loan applications, we will step in and process them,” Cruz said.

Service offerings

SAFC’s most availed of service are car refinancing and 2nd hand car financing. The company also offers brand new/2nd hand truck loans and real estate loans. With the Board of Directors’ approval, Cruz said SAFC will also offer brand new car loans. What makes SAFC stand out from its competition is its one-day loan processing and stellar customer service. Cruz admits though that there are times when it takes up to three days to process their loan applications due to unforeseen circumstances, like when there are work disruptions due to weather disturbances and special holidays. As SAFC celebrates its 20th anniversary this year, Cruz could not help but recall the challenges the company faced during the Covid-19 pandemic. Since the financing business was not considered an essential industry at that

JOEL Cruz discussing future plans with his team. time, they were forced to close shop from March 16 to May 31, 2020. “There was a lot of uncertainty at that time because we did not know when we will be allowed to open our business again. Also, a big concern back then was the financial capacity of our borrowers that were affected by the economic slowdown. What was a big help for us was the Bayanihan to Heal as One Act where our borrowers were given extensions of up to 90 days to pay their loan obligations,” Cruz said.

Focus on MSMEs

AS the company started its road to recovery, Cruz said SAFC decided to concentrate on helping micro, small, and medium enterprises (MSMEs) in 2021 because the banks slowed down on their

approvals on loans for MSMEs. “There was a gap that had to be filled and SAFC was there to do that. In every challenging environment, we were able to find an opportunity and because of that we were able to bring our sales back to P3.6 billion,” he said. He is optimistic that SAFC is ready to make it big next year with the opening of 25 additional branches and the entry of a private equity investor. “With these resources, we will be able to expand our business and open up to 25 more branches by June 2024. By 2026, the target will be at least 180 branch network. What we will be doing is to fight it out and take advantage of the huge market. We are targeting at least a 30 percent growth rate annually,” he added.