BusinessMirror October 16, 2023 by BusinessMirror

PHL ranks 3rd global tourism FDI recipient in ’18-’22 By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HELLO, SAN PEDRO! SM Center San Pedro, SM’s 84th mall, officially opened its doors to the Lagunenses last October 13, 2023. Present at the ribbon-cutting (left to right): SM Engineering Design and Development Corporation President Hans Sy Jr., SM Supermalls’ President Steven Tan, Laguna Provincial Vice Gov. Atty. Karen Agapay, Bishop Leo Murphy Drona, S.D.B, D.D., and San Pedro City officials: Mayor Art Joseph Francis Mercado, First Lady Mika Mercado, Councilor Sonny Mendoza, Vice Mayor Divina Olivarez, Councilor Michael Casacop; SM Prime Holdings Inc. President Jeffrey Lim, and Super Value Inc. President Herbert Sy. SM SUPERMALLS

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HE Philippines ranked third among the destinations which received the largest amounts of foreign direct investments (FDI) in the tourism sector from 2018 to 2022. A ccord i ng to a repor t co produced by the United Nations World Tourism Organization (UNWTO) and fDi Intelligence, there were 2,415 greenfield FDI recorded with a total capital investment of US$175.5 billion from 2018 to 2022. These projects created an estimated 388,000 jobs. fDi Intelligence is a unit of the Financial Times that monitors FDI.

Per the report, “Spain [was] the leading recipient [$19.4 billion], followed by China [$11.5 billion], and the Philippines [$11.1 billion]” from 2018 to 2022. Said capital investments in the Philippines went into 26 projects, that represented 5 percent of the market share for projects in Asia Pacific. The region recorded a total of 517 projects for the period. The report also underscored the rebound in greenfield investments in the global tourism sector, reflecting the surge in international tourist arrivals. Greenfield investments are a form of FDI where a parent company starts a new venture in a foreign country by constructing new operations and fa-

cilities from the ground up.

New jobs created up 23%

AS per the report, the number of global FDI tourism projects expanded by 23 percent to 352 in 2022 from 286 in 2021. The $10.2-billion investment last year created an estimated 36,400 new jobs, up 23 percent from the previous year. Western Europe was the major destination for tourism FDI last year, with 143 announced investments valued at $2.2 billion. Asia Pacific recorded 42 tourism projects, a minimal 2.4-percent rise from 2021, and valued at $1.2 billion, the lowest since peaking at $30.3 billion in 2018.

Hotels remained the largest recipient of tourism FDI globally between 2018 and 2022, accounting for 51 percent of all FDI projects. “More than 70 percent of capital investment [$126.8 billion] and job creation [270,000] in the tourism cluster was generated by the accommodation sub-sector during the same period,” said the report. In a news statement, Jacopo Dettoni, the editor of fDi Intelligence said: “Greenfield FDI into the tourism sector is showing signs of life after all but vanishing in the pandemic years. With Covid–19 behind us, the sector has no time to waste in addressing the biggest challenge of our times: See “PHL,” A2

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PSA: IMPORT COSTS GREW

FASTER IN PAST 4 YEARS By Cai U. Ordinario

@caiordinario

MPORT costs have been increasing faster than export costs for the past four years, according to the newly released Unit Value Index (UVI) of the Philippine Statistics Authority (PSA). The UVI showed that unit cost of imports posted double-digit growth in 2022 at 10.8 percent while exports grew 5.6 percent during the same period. In 2019, the UVI for imports increased 0.9 percent; 2020, it contracted 0.8 percent; and in 2021, it rose 9.4 percent. For exports, the data showed the UVI contracted 0.7 percent in 2019; declined 0.3 percent in 2020; and grew 3.4 percent in 2021. “UVI for Exports of 108.1 means that the unit value of the exported commodities have increased by 8.1 percent from the base year 2018 to 2022,” National Statistician Claire Dennis S. Mapa recently explained to BusinessMirror.

NEDA CHIEFS In an unprecedented event, the men and women who headed the National Economic and Development Authority (Neda) got together at the weekend at the Development Academy of the Philippines, for fellowship and to join former Neda officers forming a network of alumni. From left, joining the host, incumbent Neda chief Arsenio M. Balisacan (2012-2016, under President Benigno S. Aquino III, reappointed in 2022 under President Ferdinand Marcos Jr.), are Solita C. Monsod (1987-1989, under President Corazon C. Aquino); Gerardo P. Sicat (1973-1981, under President Ferdinand E. Marcos); Cielito F. Habito (1992-1998, under President Fidel V. Ramos); and (inset) Felipe M. Medalla (1998-2001, under President Joseph E. Estrada). Not in photo is Emmanuel F. Esguerra (named Acting Neda chief in early 2016, under President Benigno S. Aquino III). PHOTO COURTESY OF CIELITO HABITO

See “PSA,” A2

EXPLAINER »B4

Give ₧2-B mandated fund in full, SRA asks lawmakers By Jasper Emmanuel Y. Arcalas @jearcalas

‘ZIONIST IN MY HEART’:

BIDEN’S DEVOTION TO ISRAEL FACES A NEW TEST

ACOLOD CITY—The Sugar Regulatory Administration (SRA) is urging lawmakers to fully restore its P2-billion fund next year to boost its efforts in developing the sugar industry and combating weather threats. SRA Administrator Pablo Luis S. Azcona said the governmentowned and -controlled corp. would push for the restoration of its Sugarcane Industry Development Act (SIDA) budget during its Senate budget hearing this Tuesday. “This year, we tried to push for the P2 billion and we lined up all projects based on P2 billion and only P1 billion was approved,” Azcona said in a recent press briefing here. “We will continue to push for the P2 billion.” The SRA is the primary im-

plementing agency of the SIDA of 2015, which earmarks a P2-billion fund for the development of the local sugarcane industry. However, the only time that the SRA received the full amount was in 2016 during its first year of implementation. Since 2017, the SIDA fund has been slashed continuously due to budget utilization woes, especially on the equipment component of the fund. This year the SRA received P1 billion, just half of the SIDA fund. Nonetheless, the amount is about 40 percent higher than the P712 million that the GOCC got last year. In 2018 and 2019, the SRA received only P500 million of the P2 billion SIDA fund. Azcona pointed out that the reduction in SIDA budget was caused by the GOCC’s dismal performance in equipment procurement.

AI-ENHANCED PHOTOS AMUSE, BUT EXPOSE ONE TO CYBER RISK By Malou Talosig-Bartolome @maloutalosig

ID you just join the social media bandwagon, upload photos to Artificial Intelligence-apps and make yourselves look like real-life models, movie stars or artistic avatars? Well, you just gave permission to AI companies to use your photos in the future, a cybersecurity expert said. “I’m warning the audience, don’t use those [AI-powered] apps. You are giving away your data. Akala nyo laro-laro lang yan [You might think that’s just for fun]. You are giving your facial features away for free. You are giving another company custody of your personal infor-

mation. Because facial features are also your personal information,” Francisco Ashley Acedillo, former congressman, said during Kapihan sa QC. Acedillo, who sits as board director of the Phi lippine Institute of Cybersecur it y Professionals (PICSPro), said anyone or any company which has data on facial features, toget her w it h ot her d at a such as email addresses and telephone numbers can do sophisticated social engineering attacks. Once an attacker knows your profile, what piques your interest, they can email you or create baits which are fake, and which turn out to be phishing, malware or worse, a ransomware. See “AI-enhanced,” A2

See “Give,” A2

PESO EXCHANGE RATES n US 56.7430 n JAPAN 0.3789 n UK 69.1130 n HK 7.2527 n CHINA 7.7668 n SINGAPORE 41.4424 n AUSTRALIA 35.8332 n EU 59.7674 n KOREA 0.0421 n SAUDI ARABIA 15.1384 Source: BSP (October 13, 2023)

News

BusinessMirror

A2 Monday, October 16, 2023

Cybersecurity breach jitters hound Asean, PHL SMEs By Lorenz S. Marasigan

According to the 2023 State of Cybersecurity in Asean Report of Palo Alto Networks, SMEs are most concerned about password attacks (63 percent), malware attacks (56 percent), and account takeovers (53 percent). This, as almost half at 41 percent of their infrastructure and processing are running on cloud for hybrid setups. “In observance of Cybersecurity Awareness Month this October, we are reinforcing our mission of empowering SMEs with a stronger cybersecurity posture, recognizing their pivotal role as the backbone of our economy. It’s crucial to remem-

ber that SMEs, just like larger organizations, hold valuable data sought after by cyber attackers for financial gain,” said Steven Scheurmann, VP for Asean at Palo Alto Networks. Scheurmann said SMEs have adopted cloud security as a top cybersecurity measure for two years now. However, hybrid work continues to pose challenges for SMEs in securing their cloud applications and services due to risks associated with unsecured home networks and personal devices. He explained that these risks include data breaches, which can threaten both SME employees and

customers, potentially leading to identity theft and unauthorized financial transactions. These vulnerabilities, Scheurmann said, make it “challenging for almost one-third of SMEs to procure a broader range of cybersecurity solutions for hybrid work.” To stay ahead of threats, Scheurmann underscored non-negotiables that SMEs should look for when securing cloud infrastructure in hybrid environments. These are: holistic visibility of network traffic; zero trust network access (ZTNA); and artificial intelligence (AI) and machine learning. Scheurmann emphasized that a holistic visibility of network traffic ensures SMEs that only authorized users and devices get access to data and applications. A ZTNA, on the other hand, operates under the principle of zero trust, requiring users to “always verify.” ZTNA acts as a security

PHL...

than 105,600 jobs. “India was the source of 15 tourism investments in 2022, making it the sector’s largest source country in the Asia-Pacific region last year. Between 2018 and 2022, India was the source of 16 percent of the region’s outbound tourism FDI projects,” according to the report. Similarly, India was the top destination of tourism FDI, attracting “three times more tourism FDI projects in 2022 than it did in 2021, and ranked as the top destination

country in the region last year. Between 2018 and 2022, India received a total of 51 announced tourism FDI projects, representing a market share of 9.9 percent in Asia Pacific and more than $2.2 billion in capital investment.” From 2018 to 2022, most tourism FDI projects at 79 went to China, accounting for 14 percent of total market share in the region. While FDI in China peaked at 30 projects in 2019, “inbound project numbers

@lorenzmarasigan

THIRD of Filipino and Southeast Asian small and medium enterprises (SMEs) believe that they are “not confident” in tracking cybersecurity breaches amid a hybrid work environment, a report from cybersecurity firm Palo Alto Networks revealed.

Continued from A1

climate change and the resulting sustainability imperative.”

$65B into Asia Pacific

FROM 2018 to 2022, the tourism FDI in Asia Pacific were valued at $65.1 billion and created more

manager, ensuring that each employee must show their identification and state their purpose before gaining access to areas reserved for authorized personnel only. Lastly, AI-driven firewalls with machine learning analyze network traffic, predict, and prevent cyber threats that are also increasingly sophisticated due to AI. They continually adapt, ensuring SMEs are equipped to protect themselves from emerging threats. “Even small-sized and resourceconstrained businesses can establish a formidable security posture, rendering it challenging for attackers to breach, provided a strong cybersecurity hygiene culture prevails within the company. Holistic visibility, a zero-trust approach, and AI integration will help ensure that SMEs can scale up their cloud security to protect against both current and future threats, no matter where they choose to work,” said Scheurmann. have steadily declined since then,” the report added. For his part, UNWTO SecretaryGeneral Zurab Pololikashvili said: “To ensure the growth and competitiveness of the sector, significant investments must be made in education and talent by upskilling the professional workforce and implementing vocational and technical programs. Only in this way can we equip young people—of whom only 50 percent have completed secondary education—with the knowledge and capabilities they need to thrive in the sector. These investments will then pave the way for a skilled workforce that can deliver exceptional growth, drive innovation and, by embracing digital technologies, enhance the competitiveness and resilience of the tourism sector.”

House...

Continued from A14

“It is critical to remember that the ‘pork barrel’ system, which former President Duterte alluded to, has been deemed unconstitutional by the Supreme Court. Our members are firmly committed to respecting and upholding this ruling. Rather than making sweeping allegations in the media, we advise the former president, if he has tangible evidence of wrongdoing, to present it to the appropriate authorities,” they added. Another key point addressed by the parties was the criticism surrounding extraordinary and miscellaneous funds. “Regarding the criticisms around the extraordinary and miscellaneous funds, these are not only standard budgetary allocations meant for official functions and duties but are also transparent and open to scrutiny. In fact, these funds are subject to the rigorous oversight of the Commission on Audit [COA], the constitutionally mandated body responsible for examining all government expenditures,” they added. Lawmakers said the House of Representatives received a clean audit with no red flags, disallowances, or suspensions, which underscores the institution’s commitment to fiscal responsibility and transparency. The leaders called on Duterte and all parties involved to avoid making threats or insinuations of harm against any member of the House or the institution itself. “We call upon the former President and all parties involved to avoid making threats or insinuating harm against any member of the House or the institution itself. Dialogue and understanding should always be at the foremost duty as public servants is to the Filipino people, and it is incumbent upon us to rise above personal and political divides to prioritize their welfare and the nation’s advancement,” they said. Jovee Marie N. Dela Cruz

www.businessmirror.com.ph

PSA...

Continued from A1

“UVI for Imports of 121.1 means that the unit value of the imported commodities have increased by 21.1 percent from the base year 2018 to 2022. So imports unit price moved faster than exports unit price,” he also said. Despite this, the latest data is not enough justification for a stronger peso, according to National Economic and Development Authority (Neda) Secretary Arsenio M. Balisacan. Balisacan told BusinessMirror over the weekend that the peso moves according to several factors and not just in terms of trade. He said the peso is also influenced by interest rates here and abroad. Neda Undersecretary for Planning and Policy Rosemarie G. Edillon agreed and told this newspaper that it is important to consider other sectors of the economy before advocating for a stronger peso. “If it’s only imports we’re concerned about, then yes, a stronger [peso] would be good. If it’s about the entire economy, then no, because it makes our exports and import-substituting domestic industries less competitive,” Edillon told BusinessMirror. Earlier, Balisacan said raising interest rates would also not lead to a competitive peso. 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. (Full story: https://businessmirror.com.ph/2023/10/06/ balisacan-cites-downside-ofpossible-rate-increase/)

UVI details

BASED on the data, PSA said the increase in the annual average growth rate of UVI in 2022 relative to its annual average increase in 2021 was due to the growth of

the UVI of works of art, collectors’ pieces and antiques at 14.3 percent in 2022 from an annual decline of 10.1 percent in 2021. “Works of art, collectors’ pieces and antiques contributed 82.8 percent to the uptrend in the annual growth rate of UVI for exports in 2022,” PSA said. Other main contributors to the higher annual average growth rate of UVI for exports in 2022 were the faster annual average increments in vehicles, aircraft, vessels and associated transport equipment at 23.1 percent in 2022 from 7.4 percent in 2021. The list included prepared foodstuffs; beverages, spirits and vinegar; tobacco and manufactured tobacco substitutes at 11.7 percent in 2022 from 7.3 percent in 2021. Of the remaining 18 sections, 15 exhibited annual average increases, while three posted annual average decreases in 2022. Meanwhile, the higher year-onyear average increase of UVI for imports in 2022 was mainly fueled by the faster annual average increment recorded in mineral products at 34.7 percent in 2022 from 25.9 percent in 2021. “The mineral products contributed 51.4 percent to the higher annual average growth rate of UVI for imports in 2022,” PSA said. Completing the top three contributors to the higher annual average increment of UVI for imports during the period were the faster annual average increases in works of art, collectors’ pieces and antiques at 9.3 percent in 2022 from 4.1 percent in 2021. The list also included vehicles, aircraft, vessels and associated transport equipment which posted a UVI growth of 8.9 percent in 2022 from 3.7 percent in 2021. Further, 16 of the remaining 18 sections posted annual average increases, while two sections registered annual average declines in 2022. The PSA explained that the UVIs for exports and imports can be used as deflators to convert a series of nominal values of exports and imports into volume estimates of GDP using the expenditure approach. The UVIs can also be used to study the terms of trade, measure inflation, and forecast future price trends in international macroeconomics analysis as well as analyze the country’s competitiveness.

AI-enhanced...

Continued from A1

Acedillo also cited one study that one bad cyber actor only needs five composite photos of an individual to make deep fakes—or fake videos. He noted that previous face apps only made someone’s faces look like babies or elderly people. But now, AI has improved exponentially, its technology has made faces look real.

Give...

What to do if you have already shared your photos? “Wala na [Nothing],” Acedillo said. Philippine data privacy laws, he lamented, have no extra territoriality unlike in European Union countries where they can demand countries outside the EU to remove their data from their storage.

Continued from A1

“The snag that hit us when SIDA was initially made, which caused our allocation to decline, is the big delay in the equipment side,” he said. “We had a P500-million equipment purchase that was delayed by three years,” he added. The delay was caused by procurement challenges stemming from a memorandum of agreement between the SRA and the Philippine International Trading Corp. in 2018. Under the agreement, the PITC would procure the necessary items under SIDA on SRA’s behalf. Azcona said one of the adjustments that SRA did to fast-track procurement is to conduct solely the bidding. “Today all of our biddings are done by the SRA itself. We are doing everything,” he said. The SRA is also now fast-tracking the approval of its spending plan so that it can implement the SIDA programs as early as the start of next year. “This year, we were able to have it approved by March so we have a lot more time to do projects and then what we are trying to do now is before

the year ends, try to seek approval already for 2024,” Azcona said. “So when the new year starts, we can start moving [already],” he added. The SRA chief emphasized that having the full SIDA budget would be a “big help” for sugarcane farmers who have been challenged by rising production costs and climate threats like El Nino. “If we go back to P2 billion everything will double up,” Azcona said, noting that the SRA has fully utilized the block farm funding, scholarships allocation and the infrastructure budget of the SIDA. “The only part that we hope we can fully utilize is the socialized credit,” he added. The present P1-billion budget is allocated as follows based on the law: 50 percent for infrastructure support (P500 million), 15 percent for block farm (P150 million), 15 percent for credit (P150 million), another 15 percent for research and development (P150 million) and scholarships at 5 percent (P50 million).

Monday, October 16, 2023

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

NGCP vows to complete 2 transmission projects

HE National Grid Corporation of the Philippines (NGCP) vowed to complete and finish two vital transmission projects— Hermosa-San Jose (HSJ) 500-kiloVolt (kV) transmission line and the third stage of the CebuNegros-Panay backbone project (CNP3)—as soon as possible. The HSJ transmission project, though already energized in May, has yet to be completed. Spanning the provinces of Bulacan, Pampanga and Bataan, the HSJ project is meant to strengthen transmission services and accommodate new bulk power generation from the Bataan area. “The HSJ was supposed to be able to bring all the power that’s in the Bataan area towards in Metro Manila. As of May 2023, all the capacity are able to pass through. The purpose for that project has been fulfilled. So why is it not yet 100-percent complete? That is because the redundancy portion, the N-1 part, that is the one which is not yet finished,” NGCP Spokesman Atty. Cynthia P. Alabanza said. The HSJ 500kV project is a major component in NGCP’s planned Luzon 500kVtransmission backbone. “We are finishing it but, unfortunately, we were the subject of a TRO [temporary restraining order] for two strings paths. We are doing our best to resolve that but until that’s [TRO] lifted, we cannot finish it because all it takes is one span to not finish the line. So unless that is resolved, we won’t be able to string the remaining section,” explained Alabanza. Meanwhile, legal issues hound the completion of CNP3. “All it takes one tower. You can finish 299 out of 300 towers, but if you can’t finish one tower then it’s not going to get energized and that’s the case with CNP3,” said Alabanza. “In particular, there’s a land owner that has six towers in his area where we have filed an expropriation case and we’re also doing parallel negotiations. Neither has borne fruit

and that’s six towers. As with everything, we are doing our best, but that is beyond our control,” explained the NGCP executive. The CNP3 will link the islands of Negros and Cebu through overhead lines from Bacolod City to San Carlos City in Negros Occidental and via submarine cable from San Carlos to Toledo City in southwestern Cebu. The project is meant to distribute energy supply more efficiently in the region. NGCP has built a total of 3,729 circuit kilometers of transmission lines and 28 substations and has installed 31,190 megavolt amperes of transformer capacity in the past 14 years. Since 2009, NGCP said it had spent P300 billion in upgrading the country’s transmission system. All of NGCP’s projects are well laid out in its 10-year Transmission Development Plan. In the next 13 years, the grid operator is committed to invest approximately P440 billion across 211 projects which are aimed to support the growing electricity demand in the country and to make the country’s power backbone continuously reliable. NGCP has built a total of 3,729 circuit kilometers of transmission lines and 28 substations and has installed 31,190 megavolt amperes of transformer capacity in the past 14 years. Since 2009, NGCP said it had spent P300 billion in upgrading the country’s transmission system. All of NGCP’s projects are well laid out in its 10-year Transmission Development Plan. In the next 13 years, the grid operator is committed to invest approximately P440 billion across 211 projects which are aimed to support the growing electricity demand in the country and to make the country’s power backbone continuously reliable. NGCP holds the sole and exclusive concession and franchise for operating the Philippines’ transmission network. Lenie Lectura

IT-BPM drives higher office take-up this year–study By Roderick L. Abad @rodrik_28

HE information technologybusiness process management (IT-BPM) sector remains as a growth driver for the Philippine office property sector, with Metro Manila as the top preferred destination of industry players worldwide, according to a study. In its latest research, Leechiu Property Consultants cited various global consulting firms which indicated that Metro Manila is among the four locations internationally with strong ITBPM presence which constantly have a consecutive positive net demand at 240,000 square meters (sq m) for the first half of 2023. The other popular locations are Bengaluru with 350,000 sq m, Delhi with 308,000 sq m, and Tokyo with 280,000 sq m. Famed locations with negative net demand for the same period are

the financial districts of Los Angeles (-264,000 sq m), San Francisco (-260,000 sq m), Shanghai (180,000 sq m), Hong Kong (-49,000 sq m), New York (-48,000 sq m), and Sydney (-40,000 sq m). Year-to-date demand for office space is up 17 percent to 809,000 sq m in January to September compared to the same period in 2022, of which 77 percent are from Metro Manila. Forty-five percent of the space was taken up by the IT-BPM sector, as majority of the lease contracts are for multiple sites. A total of 124,000 sq m of space or 37 percent of the industry’s transactions was mainly leased in Metro Cebu, Quezon City, and Clark in Pampanga. Currently, office inventory nationwide is at 18.1 million sq m, with 82 percent located in Metro Manila, of which 81 percent or 14.6 million sq m of which is now leased. The study noted that vacancy rate is

at 19 percent or 3.4 million sq m, with the bulk of available space located in newly completed buildings. Bonifacio Global City and Makati City are still the locations of choice for office operations, as they have the lowest vacancy rates at 9 percent and 13 percent, respectively. The office market is 191,000 sq m away from the target of 1 million for 2023, or 34 percent of the 556,000 sq m live demand that encompasses a mix of inquiries, site inspections and ongoing negotiations. “There is still substantial live demand from IT-BPM, traditional, retail, and even POGO [Philippine Offshore Gaming Operator] tenants that signals a strong finish for the year, potentially closing more than 1 million square meters—better than the sector’s performance in 2022,” Mikko Barranda, director for commercial leasing at Leechiu Property Consultants, said during their recent media briefing. The construction of various office

projects that will be finished in the fourth quarter of 2023 is expected to deliver another stock of 432,000 sq m space. The outsourcing industry is seen to absorb more office spaces for the remainder of 2023 as the IT & Business Process Association of the Philippines (IBPAP) announced recently that it will end the year with 135,000 IT-BPM jobs. Projected completions, however, will begin to decline by 2024 onwards, which will bring down vacancy rates while demand is expected to increase. IT-BPM firms are likely opening microsites or applying the hub-and-spoke strategy to allow their employees to work-nearhome to maximize employee retention. “The trend for opening microsites or hub-and-spoke operations in office space located in non-core areas demonstrates the increasing potential for venturing out of Metro Manila to establish new sites in provincial areas,” Barranda said.

Marcos govt urged to fast-track offshore-wind power projects By Butch Fernandez @butchfBM

E N ATO R S h e r w i n T. G atc h a l i a n prodded the Marcos government to hasten development of transmission facilities for offshore wind (OSW) projects billed to increase renewable energy (RE) sector’s contribution to the Philippines’s overall energy supply, positioning the country to be the first Southeast Asian economy to have an OSW facility. Gatchalian reminded that ongoing large-scale capacities of offshore wind projects highlight the need to enhance the

capability of the country’s national grid to accommodate additional supply from RE projects. The senator stressed in a statement over the weekend that “the countr y would be better positioned to attract RE investments if transmission facilities are readily available for these RE facilities, particularly for OSW farms.” Gatchalian pointed out that “transmission facilities also support a circular issued by the Department of Energy [DOE] last year” noting that “removed limitations on foreign ownership of RE facilities in the hope of attracting more investments.”

He affirms such a circular “effectively allows foreign nationals and foreign-owned entities to have majority ownership over projects that would explore, develop, and use RE resources such as solar, wind, biomass, ocean, and tidal energy.” Moreover, the senator also stressed that “there would be no point in removing limitations on foreign ownership if the country’s national grid does not have the transmission facilities that would absorb additional energy output coming from these RE facilities.” Recalling his earlier efforts pushing for the development of more RE projects

in a bid to help bring down the cost of energy in the country, he affirmed that “RE plants provide the cheapest generation cost compared to coal-fired and gasfired power plants, even as he reminds that developing RE facilities, including OSW farms, would also help ensure the sufficiency of energy.” At the same time, Gatchalian credited the energy department, noting it has so far awarded 79 offshore wind service contracts with an indicated 61.91 gigawatts (GW) of installed capacity. The prime areas identified are Northern Luzon, Northern Mindoro, and Southern Mindoro.

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

Monday, October 16, 2023

DICT investigates hacking of official website of House of Representatives

HE Department of Information and Communications Technology (DICT) is now investigating the recent hacking incident that took place at the House of Representatives. In a statement, House Secretary General Reginald S. Velasco revealed that the official website of the House of Representatives experienced unauthorized access earlier Sunday. Velasco said the incident has prompted immediate action and various government agencies are now collaborating to investigate the breach and secure the House’s digital presence. Velasco said the Lower Chamber has assured the public that they are actively addressing the situation with the assistance of the DICT, the Cybercrime Investigation and Coordinating Center (CICC) and relevant law enforcement agencies. “ W hile we work to restore the website fully, we ask for patience and understanding. We are committed to ensuring the security and integrity of our digital platforms and we w ill implement additional measures to prevent such incidents in the future,” he said. In the wake of this breach, Velasco said the House of Representatives advises the public to remain cautious of suspicious emails or communications that claim to be from their institution. DICT A ssistant Secretar y Renato A . Paraiso, meanwhile, expressed the agency’s commitment to addressing this matter w ith the utmost seriousness. Paraiso said the DICT has been informed of the cybersecurity incident that occurred at the House of Representatives. “We are currently investigating the extent of the said incident and we shall provide further updates to the public as soon as they become available,” he added. Jovee Marie N. Dela Cruz

DFA orders mandatory exit UK envoy vows continuous of 131 Filipinos in Gaza Strip support for PHL power plan T T By Malou Talosig-Bartolome

HE Department of Foreign Affairs announced a mandatory evacuation of all Filipinos in Gaza Strip at the weekend. All Filipinos in Gaza City and northern Gaza have heeded the call to evacuate from their homes as Israel prepares for a “wide range of offensive operative plans’ for Gaza that includes land, sea and air. DFA Undersecretary for Migrant Workers Eduardo De Vega said the Alert Level 4 was hoisted around 4:45pm Saturday Israel time (9pm Philippine time). “Nanawagan kami sa mga kababayan natin sa Gaza na mandatory umuwi na kayo. Hindi ibig sabihin pipilitin namin

Phivolcs sees non-explosive eruptions from Taal, Mayon By Jonathan L. Mayuga @jonlmayuga

HE Philippine Institute of Volcanology and Seismology (Phivolcs) is closely monitoring Taal volcano in Batangas and Mayon volcano in Albay as the two active volcanoes continue to show restiveness. However, the country’s top science and technology official said the explosive eruption is not likely to happen. For Taal, however, Secretary Renato U. Solidum Jr. of the Department of Science and Technology (DOST) said sulfur emission as well as volcanic ash is expected to happen in the next few years. “Because Taal volcano is active, the vog [smog or haze containing volcanic dust and gases] we experienced is expected in the next few years,” Solidum said.

Proposed ₧3B investment in WPS gets new advocate

SENIOR lawmaker on Sunday backed the proposal by House Speaker Martin G. Romualdez to invest P3 billion in developing the 37.2-hectare Pag-asa Island in the West Philippine Sea and make the Philippine territory a tourist attraction. “The Speaker’s plan to upgrade Pag-asa’s airfield, wharf and boat shelter port reinforces our proposal to establish the island as a tourist attraction,” Surigao del Sur Rep. Johnny T. Pimentel was quoted as saying in a statement issued by his office. “Pagasa is surrounded by rich marine life, making it ideal for diving and fishing for leisure, exercise, or competition.” In November last year, Pimentel filed House Bill (HB) 6228, which seeks to declare Pag-asa a recreational fishing and diving spot under the National Tourism Development Plan. “Pag-asa is a case of ‘if we build

kayo na umalis ng Gaza. Pero require na kayong umalis at kung sakaling piliin nyong manatili doon, we can’t guarantee your safety [We are calling on our people in Gaza to leave now. You are now required to leave. But if you choose to stay, we cannot guarantee your safety] ,” De Vega said. The DFA has raised the evacuation contingency from Alert Level 3 to 4 following Israel’s warning to 1.1 million residents of Gaza of its impending strike on Gaza. There are 131 Filipinos in Gaza, 125 of them are married to Palestinians and they have children aged 6-17 years. Three are tourists, two are doctors from Doctors Without Borders, and one is a domestic helper. He said the Philippine Embassy

enough str uctures, tour ists w il l come,’” Pimentel said. Pag-asa, the largest landmass of the Kalayaan Island Group, is situated 508 kilometers northwest of Puerto Princesa City. Depending on the type of Short Takeoff and Landing (STOL) aircraft used, a flight from Puerto Princesa to Pag-asa would take 90 minutes to 150 minutes. Romualdez recently visited Pag-asa and vowed to mobilize new funding to develop the island’s infrastructure. The Speaker said the entire Kalayaan islands, which have a combined land area of around 79 hectares, could potentially become the Maldives of the Philippines. T he K a layaan islands include Ayungin Shoal, where the Philippine Marines has deployed a permanent outpost on the stranded ship BRP Sierra Madre, amid China’s highly aggressive reclamation activities in the

Taal Volcano’s Sulfur dioxide (SO2) emission levels have been high since March 2021. In September 2023, emissions have averaged 3,781 tons per day. Phivolcs reported that the high levels of SO2 have led to volcanic smog or vog in parts of Batangas and nearby areas in recent months, causing illnesses and disrupting classes. “Residents around Taal should expect and prepare [for] volcanic smog or vog from happening from time to time,” Solidum said. On the other hand, Mount Mayon, which continues to spit lava will stop doing so soon, as lava deposits and magmatic activities begin to calm down, the official added. The DOST chief was among the guests during the launch last October 12 of the Asia Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) to be hosted by the Philippines next year.

unoccupied reefs of the larger Spratly archipelago. The Municipality of Kalayaan was created over the Kalayaan islands by virtue of Presidential Decree 1596 issued by President Ferdinand E. Marcos in 1978. The Kalayaan municipal government is based in Pag-asa, which is also the town’s lone barangay. Kalayaan, a fifth-class municipality, is the leastpopulated town in the Philippines, with only 193 residents who all live on Pag-asa, according to a 2020 census. “I’m telling you now that I think we should have more Filipinos visiting Pagasa, the Kalayan Island Group and we will then even encourage friends in the hospitality industry to set up, you know, resorts or hotels in the area because they’re absolutely beautiful islands,” Romualdez said adding he sees the potential for development includes ports, marinas and even a yacht club for visiting sailors.” “This is a very beautiful and important part of our country, the Kalayaan Group of Islands,” the Speaker said.

in Jordan, which has jurisdiction over Gaza Strip, has reported to him that there are no more Filipinos in Gaza City and northern Gaza where the Hamas group is mostly concentrated. The DFA said at least 78 of the Filipinos have already relocated near the Rafah Border Crossing, near Egypt. De Vega said the Philippine government is negotiating with the Egyptian government to allow Filipinos safe passage from Gaza Strip. So far, he said, Egypt has not allowed any foreigners, including Filipinos, to pass through their border. “There is no way in and out of Gaza. But we are hoping makakalabas sila [they can go out] through Egypt,” de Vega added.

At a news briefing, Solidum underscored the importance of information and localized information. He noted that the DOST can assess hazards and provide information using smartphones. Solidum said it is up to local government units (LGUs) to use the data in land-use planning. He bared that the DOST and housing agencies are working together to integrate development efforts using the information made accessible by the DOST over the years such as the “Hazard Hunter” mobile app. “Hazard Hunter” is a tool that can be used to generate indicative hazard assessment reports on the user’s specified location. It is helpful as a reference for property owners, buyers, land developers, planners, and other stakeholders needing immediate hazard information and assessment. Solidum said LGU development planners as well as local contingents to the National Disaster Risk Reduction and Management Council can effectively prevent, if not reduce the risk of disaster.

HE British Ambassador to the Philippines vowed to continue providing assistance to the energy transition programs of the country. Speaking before the members of the Net Zero Carbon Alliance (NZCA), a pioneering consortium of Philippine enterprises committed toward collective net-zero carbon in local business, Laure Beaufils said the UK government is supporting the Philippines through the Department of Energy (DOE) to develop its own version of the “2050 Pathway Calculator.” According to Beaufils, the Philippine Emissions Pathway Calculator (or PEPC), a technical assistance project funded by UK, is improving long term modelling capability of the Government of the Philippines. “It will strengthen capacity to create evidence based low carbon development scenarios to improve understanding of trade-offs between different low emission pathways, informing policy and decisionmaking,” the British Ambassador added. Also, the UK is closely working with the Philippine government to convene the Energy Transition Council (ETC), which facilitates effective national dialogue with power sector stakeholders who can mobilize swift technical support for the country’s transition needs. To date, the ETC has supported six projects in the Philippines ranging across ancillary services, energy labelling, emerging technologies, smart grids and offshore wind. Through the British Investment Partnerships (BIP), the UK supported investments to develop the North Luzon mini hydro and the Smart Solar Network in Palawan. “Our involvement has brought earlystage capital and expertise to the projects, delivering around 35 megawatts of additional clean power to the country’s national grid and improving access to power for homes and businesses in remote, rural areas,” Beaufils said. The ambassador added they also deployed $25 million of seed capitalization and technical-assistance support into the Thomas Lloyd Energy Impact Investment

Trust, which brought UK and continental European institutional investors’ capital into three solar facilities in Negros. “Indeed, sound data must sit at the heart of all net zero action,” she added. Beaufils commended the NZCA for its climate leadership and collective effort to achieve net zero emissions. “In just two years you have established yourselves as a strong guiding force toward achieving carbon neutrality in the private sector in the Philippines,” the ambassador added. “And we all know that incentivizing the private sector to bring net carbon emissions from their activities as close to zero as possible is urgent.” W h i l e B e a u f i l s re c o g n i ze d t h e commitments of the private sector, their strong intent is not enough. “Impact is what we are after. And this is what today is about—moving from pledges to action,” she said. “Of course, we know that not all companies have the same capabilities. Different companies will have differing capacities and resources. This is where initiatives such as the Net Zero Carbon programme come in.” The Net Zero program was established to focus on the government’s drive towards a carbon neutral society. It provide partners with a roadmap to achieve carbon neutrality by sharing best practices, scaling up carbon emission reduction and tracking, and providing better access to green financing, among many other capacity-building tools. Importantly, they provide a network, which enables cross-learning and partnerships. “So companies are not alone. They are incentivized, they are supported [and] they are capacitated. Of course, transition to a net-zero future will require increasing government involvement— and understanding of its role is a first important step for supporting private sector commitments and achieving global climate goals,” said Beaufils. The NZCA recently marked its second anniversary with the addition of nine new partners in its network.

PHL, FSM strengthen partnership–Palace

HE Philippines and the Federated States of Micronesia (FSM) are strengthening their collaboration across multiple domains, encompassing the maritime sector, peace and security, interpersonal connections, and government-level partnerships, the Palace said on Sunday. During a recent meeting in Malacañang, President Ferdinand R. Marcos Jr. and FSM President Wesley W. Simina explored opportunities for bolstering their bilateral relations. Marcos underscored the importance of fortifying international ties amid global volatility, not only within their region but across the world, saying strengthening their partnership stands as a cornerstone of their efforts. “For all of us with the things that are a little bit volatile all around the world, I think it’s important that we have strength and relations and our partnerships around the world, not only in our region but around the world. So, hopefully, that would be one of our main cornerstones; our main effort

between our two countries is to find a way,” Marcos said. With the recent lifting of the ban on new workers, Marcos noted that this development would bring significant changes and open new avenues for Filipinos in Micronesia. Marcos said the Philippines can provide the FSM with the necessary workforce, saying the Philippines is still feeling the effects of the pandemic and jobs are at a premium. “We are lucky in the Philippines that we have a very young workforce, and they are very used to working in other countries,” Marcos told Simina. “I am sure that they will be those who take up the offer to live and work in Micronesia. And I think the fact that you’re not that far away is also a big advantage,” the Philippine president pointed out. For his part, Simina expressed the FSM’s keen interest in law enforcement and maintaining order, revealing his plans to visit the Philippine national police academy. He said the FSM is looking to tap into the

Philippines’s proficiency in maritime affairs, exploring potential collaborations with the Philippine Maritime Academy. The two leaders also agreed on the importance of the Philippines’s nonpermanent seat in the UN Security Council, particularly in calming the regional situation and maintaining stability. “Hopefully, if we are able to present our view to the security council, then I believe it will help calm the situation and hopefully make it more-- we can keep the sea lanes open, we can continue to say that there’s--it is safe passage for both air and sea traffic,” Marcos said. “So, that is why we believe that the security council is important. Our [seat] in the security council is important not only to the Philippines but really for all of us in the Pacific region,” he added. Simina echoed these sentiments, emphasizing that the Philippines’ role on the UN Security Council has a broader regional impact, promoting mutual interests and regional security. Jovee Marie N. Dela Cruz

Bong Go provides support to displaced workers in Lebak, Sultan Kudarat

ENATOR Christopher Lawrence “Bong” T. Go, adopted son of Sultan Kudarat, provided on Tuesday, October 10, various forms of assistance to underprivileged residents and displaced workers in Lebak, Sultan Kudarat. The event took place at the Bolebak gymnasium with 120 beneficiaries benefitting from the outreach. A day before, Go attended the groundbreaking ceremony for a Super Health Center in Esperanza town, and conducted on-site inspection of several projects he advocated for before, including the road concreting initiative in the town, which extends from the junction of National HighwayBarangay Saliao to Purok Masagana Farm-to-Market Road. In coordination with Barangay Captain Ernesto Q. Celeste Sr. of Barangay Bolebak, Lebak, Sultan Kudarat, Go’s

team distributed snacks and shirts to each beneficiary. Furthermore, the senator’s staff also gave away shoes, and balls for basketball and volleyball to select recipients. The beneficiaries also qualified for employment assistance from the Department of Labor and Employment (DOLE) through its “Tulong Panghanapbuhay sa Ating Disadvantaged/ Displaced Workers” (Tupad) program. “Sa pamamagitan ng programa na ito, ang gobyerno ay tumutulong sa mga manggagawang naapektuhan ng krisis at nakakapagbigay ng pansamantalang trabaho sa kanila,” Go said in a video message. “Patuloy po tayong magtutulungan upang mas mapabuti pa ang kalagayan ng ating mga disadvantaged at displaced workers. Magkasama tayo sa layuning ito na makabuo ng mas ligtas at mas

matatag na lipunan para sa lahat ng Pilipino,” he added. To further promote the welfare of Filipino workers affected by crises and ensure that those who reside in rural areas lacking job opportunities are taken care of, Go filed Senate Bill (SB) 420, which seeks to offer temporary employment to eligible members of low-income rural households who are ready to perform unskilled physical labor for a period of time. Go, chairperson of the Senate Committee on Health, then urged beneficiaries to visit the nearest Malasakit Center located at Sultan Kudarat Provincial Hospital in Isulan if they require medical assistance for their healthcare needs. “One-stop shop, nasa loob ng hospital ang Malasakit Center. Lapitan n’yo lang po iyan, para sa inyo ‘yan,

para sa Pilipino ‘yan, para sa mga poor and indigent patients, tutulungan kayo n’yan,” he added. Since the first Malasakit Center was established in 2018, there are now 159 centers that have assisted more than seven million Filipinos nationwide, according to DOH. As vice chairperson of the Senate Committee on Finance, Go has been instrumental in securing funds for a wide range of projects across various municipalities in the province. These projects include the concreting of roads in Esperanza, Bag u m b ay a n , I s u l a n , L a m b ay o n g , Lebak, Lutayan, and Tacurong City. Additionally, he supported the construction of multipurpose buildings in Columbio and Isulan, as well as the procurement of ambulance units for other towns.

Monday, October 16, 2023

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

STK, LEADS Agri ink deal on organic fungicides By Reine Juvierre S. Alberto

SRAEL-BASED STK Bio-ag Technologies has partnered with local manufacturer and distributor of agricultural chemicals LEADS Agri Agricultural Products Corp. to bring organic and botanical-based fungicides to the Philippine market. Through its subsidiary StocktonAgrimor Philippines Inc., STK signed an exclusive distribution agreement with LEADS Agri last October 12 at Acacia Hotel Manila in Alabang, Muntinlupa. LEADS Agri CEO Jofer Malveda and STK Country Director Kristle Aguilar-Hawod led the signing, while STK’s CEO Arye Tenenbaum and other officials were present via Zoom. Tenenbaum, who was supposed to physica lly attend the sig ning of the pact, is optimistic about the partnership. “We really believe that we have the

right technology, the perfect products for the benefit of Filipino farmers, and LEADS is the perfect partner to distribute and develop these products in the Philippines.” “As your representative in the Philippines, we [assure you] that all our efforts and resources will be at your disposal in order to serve the Filipino agriculture industry,” Malveda added. STK developed the tea tree oilbased fungicides TIMOREX GOLD and REGEV, pioneering the development of botanical-based solutions for a sustainable agricultural environment. TIMOREX GOLD contains tea tree oil as its active ingredient to control Black Sigatoka, one of the major diseases of banana, which causes the banana leaves to turn yellowish and brown. It is the first registered organic fungicide for Black Sigatoka in the Philippines pursuant to Republic

STK Bio-ag Technologies Country Director Kristle Grace Aguilar-Hawod (left) shakes hands with LEADS Agri Chief Executive Officer Jofer Malveda after signing an exclusive distribution agreement to bring STK’s botanical-based fungicides to the Philippines. They are joined by STK’s Chief Executive Officer Arye Tenenbaum and other officials in Israel via Zoom. CONTRIBUTED PHOTO Act 10068 or the Organic Agriculture Act of 2010 and certified organic by the Organic Certification Center of the Philippines. REGEV is the world’s first hybrid fungicide that combines botanical and synthetic ingredients, namely,

tea tree oil and difenoconazole, in a single formulation. With the Philippines as an agricultural country, plant diseases are considered economic threats endangering food supply as they reduce quantity and quality and increase spending

on disease management leading to reduced income for farmers. Other plant diseases, such as Fusarium wilt, are caused by the lethal fungus Fusarium oxysporum, which can lead to the yellowing and death in banana plants. As the second-largest exporter of Cavendish bananas, the Philippines faces serious threats from this disease since it could potentially wipe out a plantation, and consequently, the whole industry, if left unmanaged. STK said its products, REGEV and TIMOREX GOLD, have established their efficacy against important diseases of economically important crops after they successfully demonstrated Induced Systemic Resistance/Systemic Acquired Resistance in plants. When the products are applied to the plants, the tea tree oil activates its defense mechanism, making the whole plant resistant to infection and able to bear fruits normally.

With a focus on creating balanced, cleaner, and sustainable options for farmers, Aguilar-Hawod of STK said, “We’re very proud to say that the tea tree oil ’s formulation has been perfected.” “ T he brands are a lready know n globa l ly, so it’s been recog nized and cer tified by third-par t y organic cer tif y ing bod ies and the process is ver y stringent,” she told the BusinessMirror. Malveda said LEADS Agri hopes to expand other products and help the banana, rice, fruits and vegetables industries. “We want the reach of the products to be felt by the Filipino farmers,” Malveda told the BusinessMirror. Despite the Israel-Hamas war, Malveda is not worried about the manufacturing and delivery processes of STK’s products, “They are very resilient people. Whatever happens, it’s business as usual,” he said.

PSA report: Growth rate of PPI for agri slows in Q2 FAO: Disaster events destroyed

HE annual growth of the Producer Price Index (PPI) for agriculture at the national level slowed in the second quarter, according to the Philippine Statistics Authority (PSA). In a report published last October 11, PSA said the annual growth rate of the PPI for agriculture reached 12 percent, slower than the 24.7 percent recorded in the first quarter. “The country’s year-to-date average growth rate of PPI for agriculture was registered at 18 percent.” Among the 16 regions in Areas Outside the National Capital Region (AONCR), the highest annual drop in

the PPI for agriculture was recorded in Region 5 (Bicol Region) at 6.8 percent. Meanwhile, the highest annual increment was registered in Region 6 (Western Visayas) at 27.8 percent. In the second quarter, PSA said the PPI of the three major commodity groups exhibited downtrends. “The year-on-year growth in the PPI for crops slowed down to 18.8 percent from 32.4 percent in the previous quarter. Moreover, the PPI for livestock and poultry recorded an annual decline of 5.1 percent from a year-on-year increase of 0.4 percent in the first quarter of 2023,” it said. “Likewise, an annual decrement of

2 percent was registered in the PPI for fisheries from an annual uptrend of 14.4 percent in the previous quarter.” Data from the PSA showed that the PPI for crops exhibited an annual decline of 18.8 percent in April to June from an annual increment of 32.4 percent in the first quarter. Slower annual increments were observed in the PPI of the following commodity groups: beans and legumes at 6.5 percent from 23.6 percent; condiments at 91.8 percent from 102.8 percent; leafy vegetables at 11.1 percent from 22.7 percent; fruits at 4.2 percent from 7.0 percent; and commercial crops at 29.8

D&L receives Golden Arrow award from ICD By VG Cabuag @Villygc

HEMICAL and food ingredient manufacturer D&L Industries Inc. was recognized alongside other top local publicly listed companies by the Institute of Corporate Directors (ICD) for its outstanding corporate governance practices based on the ASEAN Corporate Governance Scorecard (ACGS). This is the fourth consecutive year that D&L received the Golden Arrow award from the ICD.

“We are honored to receive such prestigious recognition from the ICD,” D&L President and CEO Alvin Lao said. “As a company, it’s our top priority to uphold the highest standards of good corporate governance. We see it as the solid foundation for a sustainable and lasting organization.” The ACGS measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability thru timely disclosure

of material information, and how the board guides the company strategically, monitors the management and ensures the board’s accountability to the company and the shareholders. ICD is a nonstock, not-for-profit national association of corporate directors and other stakeholders engaged in corporate governance. Its mission is to champion good corporate governance and stewardship for the benefit of the society. It aims to be the key catalyst in the Philippine corporate governance ecosystem for inclusive and sustainable development.

percent from 55.2 percent. “Faster annual increases were registered in cereals at 8.1 percent from 7.3 percent and rootcrops at 20.8 percent from 12.9 percent.” PSA also said the PPI for livestock and poultry recorded an annual decline of 5.1 percent in the second quarter from a 0.4 percent increment in the previous quarter. “Its annual growth in the second quarter of 2022 was posted at 13.1 percent.” At the national level, the PPI for fisheries recorded an annual decline of 2 percent from its annual increment of 14.4 percent in the prev ious quarter.

D&L said its income fell by 28 percent to P1.24 billion in the first half from the previous year’s P1.71 billion on higher inflation and the cost it incurred due to the pre-operation of its new plant in Batangas. Despite this, Lao said the company is looking forward to its expansion. “It’s really to emphasize that this [Batangas plant opening] is a game changer for us. This is really a big reason to be very optimistic about the company,” Lao said. “When it’s finally up and running, it will more than offset a lot of these costs. And as we get to being fully operational, that’s when we will start to see the benefits coming in.”

Food is hot campaign issue in elections from Argentina to Poland

HETHER it’s bread or onions, food has the power to make or break a country’s leadership. How nations secure their staples is looming large in elections across the world with war in Ukraine and now the Middle East. Starting with New Zealand and Poland, at least a quarter of the global population will head to the polls over the next eight months or so. Those countries will be followed by Argentina, the Netherlands and Egypt, and then Indonesia and India in 2024. Among them are some of the top suppliers of everything from rice and palm oil to milk and soymeal. Others are strategic locations for the flow of staples like wheat. Politicians have an eye on two core constituents: consumers and producers. Some governments aiming to stay in power are restricting exports of foodstuffs, proposing measures to protect rural communities, or slowing the pace of climate policies that would affect farmers. Food is just one of a long list of electoral issues, but it has global repercussions. The politics threaten to impact global trade, prices and the economies of importdependent nations. Erratic weather, meanwhile, has ravaged agricultural land from the United States to China, and the phenomenon known as El Niño is back, risking further damage to crops. Then there’s war. Before Russia’s invasion, Ukraine exported more grain than the entire European Union combined and supplied half of the globally traded sunflower oil. The conflict between Hamas

and Israel pushed up the price of crude oil, which could have a knock-on effect for food production. The expectation is that Israel is preparing a ground war after vowing to wipe out the Iran-backed militants. “We are in a world where everybody’s pandering to domestic issues,” said Tim Benton, a research director at Chatham House in London specializing in food security. “That world of protectionism driven by elections and polarization and inward-looking domestic politics might well play out large.” Politicians have reasons to be nervous. Food price spikes can trigger food riots around the world. In 2011, they contributed to the Arab Spring uprisings in Egypt and elsewhere in the Middle East, a region in turmoil again. Meanwhile, central bankers and governments everywhere are struggling to contain food costs that are outpacing core inflation. Climate politics have emerged as a defining line between the left and right. In Europe and the Americas, the issue of conflating climate change, globalization and the protection of local production is aligned with the resurgence of more radical parties, according to risk intelligence company Verisk Maplecroft. “When you’re talking about very polarized and tight elections, this thematic campaigning for specific groups can make the difference between a victory and a loss,” said Jimena Blanco, chief analyst at the firm. These are some of the countries to watch.

Curbing emissions

THE world’s biggest milk exporter, New

Zealand vowed to curb the devastating impact on the environment from agriculture, but farmers aren’t happy because taxing greenhouse gas from cows threatens their business. Ahead of the election on October 14, the government delayed the implementation of so-called emissions pricing until toward the end of 2025. The main opposition party wants to push it back until 2030. In the Netherlands, the world’s secondlargest exporter of agricultural produce, farmers have turned into a political force before elections in November. A goal to halve nitrogen emissions by 2030 led to protests, and the upstart Farmer-Citizen Movement, or BBB, is now the largest party in the Dutch upper house and fourth in opinion polls. The governing coalition retracted their emissions goal.

Grain feud

FOOD costs and production have been key themes in the bitter political campaign in Poland ahead of election on October 15. Last time, about two-thirds of farmers backed the nationalist Law and Justice party, which is trying to secure a third term in power. The war next door in Ukraine, surging costs and drought have made the group critical for the ruling party again. To calm restive farmers, the government defied the European Union and extended an embargo on Ukrainian grain. Ukraine President Volodymyr Zelenskiy filed a complaint with the World Trade Organization and questioned Poland’s solidarity. Polish

leaders warned Zelenskiy that his rhetoric could jeopardize future weapons shipments. Law and Justice, which has been battling to protect a narrow lead in the polls against its more pro-EU, liberal opponent, is also luring farmers with promises to make supermarkets offer more local food. Opposition leader Donald Tusk, an ex Polish premier and former European Council president, has sought to mollify the radical leader of the farmers. In a media briefing last month, they spoke in front of a cabbage field, promising to deliver a compromise with the EU over the ban on Ukrainian grain imports.

Unshackling farmers

THE presidential election in Argentina takes place on October 22. The nation is a top global supplier of beef as well as soybean meal and corn to feed livestock in other countries. But farmers haven’t been able to fully tap the potential of vast flatlands because of years of export taxes to boost revenue and efforts to curb inflation still running at more than 100 percent. Libertarian candidate Javier Milei, the shock frontrunner, plans to unleash an export boom and dismantle policies that have held back agricultural investment. Milei would scrap export taxes and quotas and remove direct meddling in food prices. That’s in addition to his controversial policy of switching Argentina’s currency from the peso to the US dollar. Critical to farmers is whether they end up with more cash to invest in planting, and in turn provide the world with another source of food. Bloomberg News

$3.8-trillion crops, livestock

VER the last 30 years, an estimated $3.8 trillion worth of crops and livestock production has been lost due to disaster events, according to a new report released by the Food and Agriculture Organization of the United Nations (FAO) last Friday. FAO said the amount corresponds to an average loss of $123 billion per year or 5 percent of annual global agricultural GDP. A new FAO flagship report titled “The impact of disasters on agriculture and food security,” brings the first-ever global estimation of the impact of disasters on agricultural production focused on crops and livestock. It also notes that the figure may be higher if systematic data on losses in the fisheries and aquaculture and forestry subsectors were available. The report stressed the need for “urgently improving” data and information on the impact of disasters on all subsectors of agriculture to create data systems that can serve as the foundation upon which effective action can be built and informed. “Agriculture is one of the most highly exposed and vulnerable sectors in the context of disaster risk, given its profound dependence on natural resources and climate conditions. Recurrent disasters have the potential to erode gains in food security and undermine the sustainability of agrifood systems,” said FAO DirectorGeneral Qu Dongyu in the foreword to the report. “Leveraging FAO’s technical expertise, this publication showcases opportunities to proactively address risks in agrifood systems while demonstrating ways to mainstream disaster risk management into agricultural practices and policies.” The report revealed that over the last three decades, disasters—defined as serious disruptions to the functioning of a community or society— inflicted the highest relative losses on lower and lower middle-income countries, up to 15 percent of their total agricultural GDP. Disasters also had a significant impact on Small Island Developing States (SIDS), causing them to lose nearly 7 percent of their agricultural GDP.

Product groups THE report also indicated that losses related to major agricultural products are showing increasing trends. Thus, losses in cereals amounted to an average of 69 million tons per year in the last three decades—corresponding to the entire cereal production of France in 2021—followed by fruits and vegetables and sugar crops, with each approaching average losses of 40 million tons per year. For fruits and vegetables, losses

corresponded to the entire production of fruits and vegetables in Japan and Vietnam in 2021. Meats, dairy products and eggs showed an average estimated loss of 16 million tons per year, corresponding to the whole production of meats, dairy products and eggs in Mexico and India in 2021.

Regional differences GLOBA L losses mask significant variability across regions, subregions and country groups. According to the report, Asia experienced by far the largest share of the total economic losses. Africa, Europe and the Americas also displayed a similar order of magnitude. However, losses in Asia only accounted for 4 percent of the agricultural added value, while in Africa they corresponded to nearly 8 percent. The variability was even higher across subregions. In absolute terms, losses were higher in high-income countries, lower-middle-income countries and upper-m idd le -income cou nt r ies, but low-income countries, and especially SIDS, suffered the highest incidence of losses in agricultural added value.

‘Cascading impacts’ DISASTER events have increased from 100 per year in the 1970s to around 400 events per year worldwide in the past 20 years. Not only are disaster events increasing in frequency, intensity and complexity but their impact is also expected to worsen, as climate-induced disasters amplify existing social and ecological vulnerabilities. The report noted that when hazards manifest, they can produce cascading impacts across multiple systems and sectors. Underlying disaster risk drivers include climate change, POVERTY and inequality, population growth, health emergencies caused by pandemics, practices such as unsustainable land use and management, armed conflicts and environmental degradation. The amount of loss and damage produced by a disaster depends on the speed and spatial scale at which a hazard interacts with vulnerability and other preexisting risk factors, along with the amount of exposed assets or livelihoods. In extreme cases, disasters result in the displacement and outward migration of rural populations. Massive flooding triggered by abnormal monsoon rains in Pakistan’s southern province of Sindh is an illustrative example of how the combination of slow and sudden onset hazards triggered displacement, negatively impacting agrifood systems and increasing food insecurity.

BusinessMirror

Monday, October 16, 2023

Republic of the Philippines

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

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

October 16, 2023 NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S) Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NO.

ESTABLISHMENT

ANOC99 CORPORATION POGO 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

D AND S INDUSTRIES (PHILIPPINES) CORPORATION Unit 1-5, Orient Gold Crest Bldg. 2, Lot 8, Blk. 8, Suntrust Ecotown, Sahud Ulan, Tanza, Cavite

IBIDEN PHILIPPINES, INC. Road 1, First Philippine Industrial Park, Santa Anastacia, City of Sto. Tomas, Batangas

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

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

Chinese Customer Service

Able to speak, read and write Chinese and Burmese language

AI, CHANGLIANG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

13 Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

HENDRI

Basic Qualification:

Indonesian Customer Service Representative

Able to speak, read and write Chinese and Indonesian language

Brief Job Description:

Malaysian Customer Service Representative

Able to speak, read and write Chinese and Malaysian language

Brief Job Description:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Sales Manager

Can speak Mandarin fluently.

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

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

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

HU JAUNG KU

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

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

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Php30,000 - Php59,999

MINGALAR MOE

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

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

Php30,000 - Php59,999

SOE MYINT OO

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

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

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Manage incoming calls and customer service inquiries

Salary Range: Php30,000 - Php59,999

MO, XIANXIAO

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Salary Range: Php30,000 - Php59,999

PENG, HAOYU

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range: Php30,000 - Php59,999

Salary Range: Php30,000 - Php59,999 Basic Qualification: Able to speak, read and write Chinese and Burmese language

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

PU, HANG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Brief Job Description: Brief Job Description:

Php30,000 - Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 21

Salary Range:

LUO, XIANSAI

Brief Job Description:

Salary Range:

Php30,000 - Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 20

Salary Range:

KUANG, ZAOJUN

Brief Job Description:

Salary Range:

Php30,000 - Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 19

Salary Range:

JIAN, PENGFEI

Brief Job Description:

Salary Range:

Php30,000 - Php59,999 Basic Qualification:

Manage incoming calls and customer service inquiries 18

Salary Range:

HUANG, YIXI

Manage incoming calls and customer service inquiries

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

Php30,000 - Php59,999 Basic Qualification:

Brief Job Description:

MOA CLOUDZONE CORP.

Salary Range:

GUO, XINPENG

Brief Job Description:

Able to speak, read and write Japanese language, with strong leadership and decision-making skills and familiarity with latest technologies and methodologies

Burmese Customer Service Representative

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

Php150,000 Php499,999

Facility Assistant Manager

YIN MON AUNG

Able to speak, read and write Chinese and Burmese language

Manage incoming calls and customer service inquiries 16

Php30,000 - Php59,999

Chinese Customer Service Representative

Brief Job Description:

Salary Range:

Basic Qualification:

Maintain good condition of the production line to minimize machine downtime and to maximize productivity and enhance efficiency

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

MUTO, EIICHI

Brief Job Description:

MOA CLOUDZONE CORP.

Salary Range: Basic Qualification:

Manage incoming calls and customer service inquiries 15

Php30,000 - Php59,999

BAI, JINHUI

Brief Job Description:

Php30,000 - Php59,999 Basic Qualification:

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

Salary Range:

FAN, JIALIN

Responsible in achieving growth and hitting sales target by successfully managing the sales team by designing and implementing a strategic sales plan that expands company’s customer base and ensure its strong presence

Php30,000 - Php59,999 Basic Qualification:

Brief Job Description:

Manage incoming calls and customer service inquiries

Salary Range:

LAM THI DUYEN

Brief Job Description:

Php30,000 - Php59,999 Basic Qualification:

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

Salary Range:

TOH SONG CIK

Manage incoming calls and customer service inquiries MOA CLOUDZONE CORP.

Basic Qualification:

Salary Range:

Brief Job Description:

ZENG, FEI

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Manage incoming calls and customer service inquiries MOA CLOUDZONE CORP.

Salary Range:

Able to speak, read and write Chinese language

Brief Job Description:

Manage incoming calls and customer service inquiries

Chinese Customer Service Representative

Manage incoming calls and customer service inquiries MOA CLOUDZONE CORP.

Brief Job Description:

Able to speak, read and write Chinese and Burmese language

Basic Qualification:

Php90,000 - Php149,999 7

Chinese Customer Service

YANG, CHAOGUANG

Manage incoming calls and customer service inquiries 5

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

Basic Qualification:

QUALIFICATION AND SALARY RANGE

Manage incoming calls and customer service inquiries 4

MOA CLOUDZONE CORP.

LING, HAO

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

Manage incoming calls and customer service inquiries 3

www.businessmirror.com.ph

Salary Range: Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Salary Range: Php30,000 - Php59,999

BusinessMirror

www.businessmirror.com.ph 23

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

QIN, LIWEN

Basic Qualification:

VINCENT

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Indonesian Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

TIAN, TIAN

Basic Qualification:

BINCENT SIA SOON MIEW

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Malaysian Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

WANG, DONGHU

Basic Qualification:

YONG HAN YUAN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Malaysian Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

WANG, LIAN

Basic Qualification:

LIU, SHUIDE

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

WANG, ZILONG

Basic Qualification:

CHEN, DING

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

ZENG, DEFEI

Basic Qualification:

CHEN, WEI

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

CHEN, XIAOYAN

Basic Qualification:

ZHANG, PEIDONG

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

CHEN, YANXI

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

DENG, WEIWEI

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

GUO, RUI

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

HUANG, JIANWEI

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LI, QIULI

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

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

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

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

ZHANG, PENG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

OHIEMI, VICTOR AHMED

Basic Qualification:

Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Manage incoming calls and customer service inquiries

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

MOA CLOUDZONE CORP.

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

Php30,000 - Php59,999 Basic Qualification:

Indonesian Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

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

Indonesian Customer Service Representative

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

Salary Range:

EKO FEBRYANTO

GRACE SILVIANI

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

45 33

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

41 29

MOA CLOUDZONE CORP.

Monday, October16, 2023

Basic Qualification:

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

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

TJHIN KIM PHIN

Basic Qualification:

Indonesian Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

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

BusinessMirror

Monday, October 16, 2023 47

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

LI, YONGJIAN

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

www.businessmirror.com.ph WEI, YIFEI

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LIU, HUIXIN

Basic Qualification:

WU, YAO

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LIU, XIAOJIANG

Basic Qualification:

YU, XIANG

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LIU, YE

Basic Qualification:

ZHANG, WENKANG

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LIU, ZHIXIONG

Basic Qualification:

ZHOU, LI

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LUO, WEIXIA

Basic Qualification:

HOANG THI HONG

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

TAO, ZHENGYU

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

HOANG, THI THI

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

HUA DINH PHAT

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LE, THI HANH

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LE, THI HUE

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LE, THI KHANH LY

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

WANG, MIAO

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

WANG, WENQIANG

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

WANG, XINSHAN

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

WEI, XUXING

Basic Qualification:

Mandarin Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

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

The World

Editor: Angel R. Calso

BusinessMirror

Monday, October 16, 2023 A9

Gaza’s 2.3 million civilians search for food, water and safety amid war

A man wounded in Israeli military strikes is brought to Shifa hospital in Gaza City on Friday, October 13, 2023. AP Photo/Fatima Shbair

By Wafaa Shurafa, Joseph Krauss & Isabel Debre The Associated Press

EIR A L-BA L AH, Gaza Strip—Gaza’s 2.3 million civilians faced a deepening struggle for food, water and safety Sunday and braced for a looming invasion a week after Hamas militants launched a deadly assault on Israel. While hundreds of thousands sought to heed Israel’s order to evacuate the north, others huddled at hospitals there. Israeli forces, supported by a growing deployment of US warships in the region, positioned themselves along Gaza’s border and drilled for what Israel said would be a broad campaign to dismantle the militant group. A week of blistering airstrikes have demolished entire neighborhoods but failed to stem militant rocket fire into Israel. The Gaza Health Ministry said 2,329 Palestinians have been killed since the fighting erupted, more than in the 2014 Gaza war, which lasted over six weeks. That makes this the deadliest of the five Gaza wars for both sides. More than 1,300 Israelis have been killed, the vast majority of them civilians killed in Hamas’s Oct. 7 assault. This is the deadliest war for Israel since the 1973 conflict with Egypt and Syria. Israel dropped leaf lets over Gaza City in the north and renewed warnings on social media, ordering more than 1 million Palestinians—almost half the territory’s population—to move south. The military says it is trying to clear away civilians ahead of a major campaign against Hamas militants in the north, including in what it said were underground hideouts in Gaza City. Hamas urged people to stay in their homes. The U.N. and aid groups say such a rapid exodus, along with Israel ’s complete siege of the 4 0 - k i lome t e r - lon g (2 5 - m i le long ) coasta l ter r itor y wou ld cause untold human suffering. The World Health Organization said the evacuation “could be tantamount to a death sentence” for the more than 2,000 patients in northern hospitals, including newborns in incubators and people in intensive care. Gaza’s hospitals are expected to run out of fuel for emergency generators within two days, according to the U.N., which said that that would endanger the lives of thousands of patients. Gaza was already in a humanitarian crisis due to a growing shortage of water and medical supplies caused by the Israeli siege, which has also forced electrical plants to shut down without fuel. With some bakeries closing, residents complained of being unable to buy bread for their children. In Gaza City, Haifa Khamis alShurafa crowded into a car with six family members, fleeing to the south in the darkness. “We don’t

deserve this,” Shurafa said, before leaving her home city. “We didn’t kill anyone.” The Israeli military said “hundreds of thousands” of Palestinians had heeded the warning and headed south. It gave Palestinians a six-hour window that ended Saturd ay af ter noon to travel safely within Gaza along two main routes, but has not set a firm deadline for the evacuation. Hundreds of relatives of the estimated 150 people captured by Hamas in Israel and taken to Gaza meanwhile gathered outside the Israeli Defense Minis try in Tel Aviv, demanding their release. “This is my cry out to the world: Please help bring my family, my wife and three kids,” said Avihai Brodtz of Kfar Azza. Many expressed anger toward the government, saying they still have no information about their loved ones. In a telev ised address Saturday night, Israel’s chief military spokesman, Rear Adm. Daniel Hagari, accused Hamas of trying to use civilians as human shields. “We are going to attack Gaza City very broadly soon,” he said, without giving a timetable for the attack. The military said Sunday an airstrike in southern Gaza had killed a Hamas commander blamed for the killings at Nirim, one of several communities Hamas had attacked in southern Israel. Israel said it struck over 100 military targets overnight, including command centers and rocket launchers. Israe l h a s c a l led up some 360,000 military reserves and massed troops and tanks along the border with Gaza. Israelis living near the Gaza border, including residents of the town of Sderot, continued to be evacuated. Militants in Gaza have fired over 5,500 rockets since the hostilities erupted, many reaching reaching deep into Israel, as Israeli warplanes pound Gaza. US Defense Secretary Lloyd Austin said late Saturday that the US was moving a second carrier strike group, the USS Dwight D. Eisenhower, to the eastern Mediterranean, in a show of force meant to deter any allies of Hamas, such as Iran or Lebanon’s Hezbollah militant group, from seeking to widen the war. Hamas remained defiant. In a televised speech Saturday, Ismail Haniyeh, a top official, said that “all the massacres” will not break the Palestinian people. An Israeli airstrike near the Jabaliya refugee camp in northern Gaza killed at least 27 people and wounded another 80, Gaza health authorities said. Most of the victims were women and children, the authorities said. Doctors from Kamal Edwan Hospital shared footage of charred and disfigured bodies. It was not clear how many Palestinians remained in northern Gaza by Saturday afternoon, said Juliette Touma, a spokesperson for the UN agency for Palestinian

refugees. An estimated 1 million people have been displaced in Gaza in one week, she said. At Gaza City’s main hospital, al-Shifa, a crowd of men, women and children that medical officials estimated at 35,000 crammed into the hospital’s lobby and bloodied hallways and under the trees on the hospital grounds, hoping the facility would be spared in the coming attack. “People think this is the only safe space after their homes were destroyed and they were forced to flee,” said Dr. Medhat Abbas, a Health Ministry official. Basic necessities were running out because of the siege, which Israel has said will only be lifted when the captives are returned. Water has stopped coming out of taps across the territory. Amal Abu Yahia, a 25-year-old pregnant mother in the Jabaliya refugee camp, said she waited anxiously for the few minutes when contaminated water trickles from the pipes in her basement. She rations it, prioritizing her 5-year-old son and 3-year-old daughter. She said she is drinking so little herself, she only urinates every other day. Near the coast, the only tap water is contaminated with Mediterranean Sea water because of the lack of sanitation facilities. Mohammed Ibrahim, 28, said his neighbors in Gaza City have taken to drinking the salt water. The Israeli military’s evacuation order demands the territory’s entire population cram into the southern half of Gaza as Israel continues strikes, including in the south. The Hamas communications office said Israel has destroyed over 7,000 housing units so far. Rami Swailem said he and at least five families in his building decided to stay put in his apartment near Gaza City. “We are rooted in our lands,” he said. “We prefer to die in dignity and face our destiny.” Others were looking desperately for ways to evacuate. “We need a number for drivers from Gaza to the south, it is necessary #help,” read a post on social media. The UN refugee agency for Palestinians expressed concern for those who could not leave, “particularly pregnant women, children, older persons and persons with disabilities.” The agency also called for Israel to not target civilians, hospitals, schools, clinics and U.N. locations. Al-Shifa hospital was receiving hundreds of wounded every hour and had used up 95 percent of its medical supplies, hospital director Mohammad Abu Selim said. Water is scarce and the fuel powering its generators is dwindling. “The situation inside the hospital is miserable in every sense of the word,” he said. “The operating rooms don’t stop.” DeBre and Krauss reported from Jerusalem. Associated Press writers Julia Frankel in Jerusalem and Samya Kullab in Baghdad contributed to this report.

The World BusinessMirror

A10 Monday, October 16, 2023

www.businessmirror.com.ph

Iran’s foreign minister warns Israel from Beirut to stop Gaza attacks or risk ‘huge earthquake’

By Bassem Mroue | The Associated Press

EIRUT—Iran’s foreign minister on Saturday called on Israel to stop its attacks on Gaza, warning that the war might expand to other parts of the Middle East if Hezbollah joins the battle, and that would make Israel suffer “a huge earthquake.” Hossein Amirabdollahian told reporters in Beirut that Lebanon’s Hezbollah group has taken all the scenarios of a war into consideration and Israel should stop its attacks on Gaza as soon as possible. Israel considers Hezbollah its most serious immediate threat, estimating it has some 150,000 rockets and missiles, including precision-

guided missiles that can hit anywhere in Israel. The group, which has thousands of battle-hardened fighters who participated in Syria’s 12-year conflict, also has different types of military drones. Hezbollah fighters have been on full alert along Lebanon’s borders with Israel following last Saturday’s attack by the militant Palestinian

Iranian Foreign Minister Hossein Amirabdollahian, speaks during a joint press conference with his Lebanese counterpart Abdallah Bouhabib, in Beirut Lebanonon Friday, October 13, 2023. Amirabdollahian blasted the United States for calling for restraint in the region while at the same time allowing Israel to “commit out crimes” in Gaza. AP Photo/Hussein Malla

group Hamas that left hundreds of Israeli civilians and soldiers dead. On Saturday, the Israeli military said an Israeli drone strike along the border with Lebanon killed a “cell” that was trying to infiltrate into Israel. On Friday, Hezbollah said its fighters fired several rockets at four Israel positions along the border. On Saturday afternoon, Hezbollah fighters fired a barrage of rockets and shells at Israeli positions in the disputed Chebaa Farms. Israeli troops fired back on nearby areas in southern Lebanon. Lebanon’s state news agency reported that a man and his wife were killed in Israeli shelling of a border village, while Hezbollah said one of its fighters was also killed Saturday. Amirabdollahian discussed in Beirut on Saturday the situation in Gaza and the region with the top Hamas official in exile, Saleh Arouri, and the leader of the Palestinian Islamic Jihad group, Ziad

Nakhaleh, according to Hezbollah’s Al-Manar TV. Hamas officials have repeatedly said that last Saturday’s attack on southern Israel that killed over 1,300 civilians and troops was the work of the Palestinian group and Iran had nothing to do with it. Hamas officials did not respond to calls by The Associated Press to confirm and give details about the meeting. Amirabdollahian left Beirut on Saturday afternoon following a tour that took him to Iraq, Syria and Lebanon, where Tehran enjoys wide influence. Amirabdollahian said he met Friday with Hezbollah leader Sayyed Hassan Nasrallah, who briefed him on the group’s conditions in Lebanon. “I know about the scenarios that Hezbollah has put in place,” Amirabdollahian said. “Any step the resistance (Hezbollah) will take

will cause a huge earthquake in the Zionist entity.” Amirabdollahian added: “I want to warn the war criminals and those who support this entity before it’s too late to stop the crimes against civilians in Gaza, because it might be too late in few hours.” With an eye toward Hezbollah, President Joe Biden has warned other players in the Middle East not to join the conflict and has sent American warships to the region and vowed full support for Israel. The Iranian foreign minister said he will be contacting U.N. officials in the Middle East because “there is still an opportunity to work on an initiative (to end the war) but it might be too late tomorrow.” The possibility of a new front in Lebanon brings back bitter memories of a vicious monthlong war between Hezbollah and Israel in 2006 that ended in a stalemate and a tense detente between the two sides.

New Zealand elects center-right In call with Palestinian leader, Biden government for post-pandemic era discusses humanitarian aid to Gaza By Matthew Brockett

By Matthew Lee & Lolita C. Baldor The Associated Press

IYADH, Saudi Arabia — President Joe Biden on Saturday spoke with Palestinian President Mahmoud Abbas and Israeli Prime Minister Benjamin Netanyahu, urging the leaders to allow humanitarian aid to the region and affirmed his support for efforts to protect civilians. The weekend calls in Washington came ahead of Defense Secretary Lloyd Austin’s announcement that the US was moving up a second carrier strike group in support of Israel. Secretary of State Antony Blinken intensified diplomatic outreach across the Middle East and beyond to rally an international response to prevent the IsraelHamas war from expanding. The broad US efforts reflect the international concern about the number of civilians at risk and the potential ramifications of a prolonged war as Israel told Gaza residents to move south and Hamas urged people to remain in their homes. The Biden administration has not publicly urged Israel to restrain its response after the Hamas attack a week ago, but has emphasized the country’s commitment to following the rules of war. Addressing a Human Rights Campaign dinner Saturday in Washington, Biden linked the humanitarian crisis in Gaza to different versions of hate that he said must be stopped. “A week ago we saw hate manifest another way in the worst massacre of the Jewish people since the Holocaust,” Biden said, citing the 1,300 lives lost in Israel as well as “children, grandparents alike kidnapped, held hostage by Hamas.” “The humanitarian crisis in Gaza — innocent Palestinian families and the vast majority that have nothing to do with Hamas — they’re being used as human shields,” he said. “We have to reject hate in every form.” Blinken met with Saudi Arabian Foreign Minister Prince Faisal bin Farhan in Riyadh before stopping in the United Arab Emirates as he sought ways to help civilians trapped in between the fighting and to address the growing humanitarian crisis. He also called his Chinese counterpart as Palestinians struggled to flee from areas of Gaza targeted by the Israeli military before an expected land offensive. Austin as well on Saturday spoke with Israeli Minister of Defense Yoav Gallant, stressing the importance of

President Joe Biden speaks at the 2023 Human Rights Campaign National Dinner on Saturday, October 14, 2023, in Washington. AP Photo/Manuel Balce Ceneta safeguarding civilians. Austin offered updates on US efforts to boost air defense capabilities and munitions for Israeli forces that he noted were aimed at stemming escalation of war, according to a readout of the call. Austin said the Biden administration was sending the additional carrier strike group to the Eastern Mediterranean. The Eisenhower will join the USS Gerald R. Ford carrier strike group, which is already sailing near Israel, to bolster US presence there with a host of destroyers, fighter aircraft and cruisers. In a statement announcing the deployment, Austin said sending the second carrier was “part of our effort to deter hostile actions against Israel or any efforts toward widening this war following Hamas’s attack on Israel.” While Biden has spoken to Netanyahu multiple times since the Hamas attack, Saturday’s call was his first to Abbas, who runs the Palestinian Authority that controls the West Bank. According to a readout of the call, Abbas briefed the president on efforts to bring aid to Palestinian people, particularly in Gaza. Biden reiterated to Abbas that “Hamas does not stand for the Palestinian people’s right to dignity and self-determination,” according to the readout. Biden spoke with Netanyahu to “reiterate unwavering US support for Israel,” according to the readout. He briefed the Israeli leader on regional efforts to ensure civilian access to food, water and medical care. The number of US citizens killed rose to 29, US officials said Saturday, and 15 were unaccounted for, as well as one lawful permanent resident. Blinken, in his visits with Saudi

and UAE leaders, also cited the need for humanitarian assistance and safe passage from those who wish to leave Gaza as he spoke to Arab audiences from their home turf, where his hosts put that issue at the top of their concerns. An Israeli ground assault would worsen the plight of civilians in Gaza who are without power, fresh water or access to aid. Egyptian officials said the southern Rafah crossing would open later Saturday for the first time in days to allow foreigners out. Israel has advised all Palestinian civilians to flee south to avoid Israel’s continued offensive against Hamas militants in Gaza City. Blinken also called Chinese Foreign Minister Wang Yi to seek his country’s help in preventing the war from spreading, asking Beijing to use whatever influence it has in the Mideast. Blinken’s spokesman declined to characterize Wang’s response but said the US believes it and China have a shared interest in the region’s stability. In Riyadh, Blinken and Prince Faisal stressed the importance of minimizing the harm to civilians as Israel prepared for an anticipated incursion against Hamas a week after the militant group’s unprecedented attack against Israel. “As Israel pursues its legitimate right, to defending its people and to trying to ensure that this never happens again, it is vitally important that all of us look out for civilians, and we’re working together to do exactly that,” Blinken said. “None of us want to see suffering by civilians on any side, whether it’s in Israel, whether it’s in Gaza, whether it’s anywhere else,” Blinken said.

The Saudi minister said the kingdom was committed to the protection of civilians. “It’s a disturbing situation,” he said. “It’s a very difficult situation. And, as you know, the primary sufferer of this situation are civilians, and civilian populations on both sides are being affected and it’s important, I think, that we all condemn the targeting of civilians in any form at any time by anyone.” A US official said Saturday that Washington did not ask Israel to slow or hold off on the evacuation plan. The official said the discussions with Israeli leaders did stress the importance of taking into account the safety of civilians as Israel’s military moved to enforce the evacuation demand. The official, who was not authorized to publicly discuss the private discussions and spoke on condition of anonymity, said the Israeli leaders acknowledged the guidance and took it under advisement. The US worked out an agreement involving to allow Americans and other foreigners in Gaza to cross the Rafah border into Egypt, but the crossing remained blocked Saturday, with no sign that those gathered would be allowed through. There are an estimated 500 Americans living in Gaza, but that number is imprecise, officials have said. The US State Department on Saturday authorized the departure of nonemergency US government personnel and their family members from the American Embassy in Jerusalem and an office in Tel Aviv. Prince Faisal said it was imperative for the violence between Israel and Hamas to end. “We need to work together to find a way out of this cycle of violence,” he said. “Without a concerted effort to end this constant return to violence, it will always be the civilians that suffer first, it will always be civilians on both sides that end up paying the price.” While in Abu Dhabi, Blinken visited the Abrahamic Family House, a complex consisting of a church, a mosque and a synagogue representing the three Abrahamic faiths. He signed a tile with the words “Light in the Darkness.” Blinken returned to Saudi Arabia ahead of an expected stop in Egypt on Sunday. He has already visited Israel, Jordan, Qatar and Bahrain. Baldor reported from aboard a US military aircraft. Associated Press writers Tara Copp, Colleen Long and Ellen Knickmeyer in Washington contributed to this report.

ew Zealanders have chosen a center-right government to manage mounting economic challenges in the aftermath of the pandemic, rejecting the left-leaning administration of Prime Minister Chris Hipkins. Christopher Luxon will become the South Pacific nation’s new premier after his National Party won the biggest share of the vote in Saturday’s election. Hipkins conceded defeat, bringing the curtain down on six years of Labour Party rule. “The New Zealand people had a mood for change,” Luxon told reporters on Sunday. “We are going to deliver a strong and stable government that’s going to get things done.” The election result lends weight to the global pattern of voters deserting the government in charge during Covid-19, a hurdle that ruling parties in the UK and Canada may face in elections over the next two years. Despite one of the lowest pandemic mortality rates in the world, New Zealanders resoundingly turned their backs on Labour, marking the end of a period defined by former Prime Minister Jacinda Ardern. “There’s a global discontent at the moment towards all incumbents,” said Bryce Edwards, a political analyst at Victoria University of Wellington. “To some extent Labour has just been unlucky to be in charge of things while the mood has soured. It does relate to Covid, it does relate to the general state of the economy.” Luxon must now negotiate with his ally the libertarian ACT Party, and possibly the nationalist New Zealand First Party, to agree on a governing arrangement that commands a majority in parliament. Those talks could take several weeks and may see ACT and New Zealand First winning policy concessions and ministerial posts from National in return for their support. Preliminary results show National won 39% of the vote, while ACT had 9% and New Zealand First got 6.5%. Labour slumped to 27% from 50% three years ago, bleeding support to parties on the right and left. Its ally the Green Party grew its share of the vote to 10.8% from 7.9% in 2020 and took key electorates from Labour. Te Pāti Māori, which stands for the rights of the indigenous Māori people, doubled its number of seats in parliament to four.

Winston returns But the biggest winner among the

smaller parties was New Zealand First, which returns to parliament after being ejected three years ago. For its leader, the 78-year-old maverick Winston Peters, it’s another remarkable comeback in a 44-year political career. While National and ACT currently have a parliamentary majority between them, they may lose it when official results, which include special and overseas votes, are published on Nov. 3. That would see Peters holding the balance of power. Peters told reporters on Sunday that the country is in “an economic and social crisis” and “some of the promises you heard in this campaign won’t be worth a confetti.” The new government faces a challenging economic outlook, with the central bank forecasting a recession as it keeps interest rates high to bring inflation under control. Government debt has increased as Labour borrowed more to battle the pandemic and pay for the recovery from a devastating cyclone earlier this year. National has promised tax cuts partially funded by removing a ban on the sale of expensive homes to foreigners and collecting a levy on each transaction. It also plans to strip the Reserve Bank of its dual mandate and return it to a sole focus on inflation.

China stance Luxon, the former chief executive of Air New Zealand who entered politics only three years ago, has spoken of the need for New Zealand to build its international relationships with countries such as India and China, already its largest trading partner. While Luxon is unlikely to distance New Zealand from traditional western partners like the UK, US and Australia, he may be more pro-China than the Labour administration, said Robert Patman, professor of politics at the University of Otago in Dunedin. Former National Party Prime Minister John Key “has actually criticized the Labour government for some of its anti-Chinese rhetoric, and Luxon is something of a protege of John Key,” Patman said. While the final shape of the new government remains uncertain, all three likely participants campaigned on cutting government spending, getting tougher on criminals and welfare beneficiaries, and halting moves to give indigenous Māori a bigger role in decision-making on local authorities. All three also favor farmer-friendly policies, and could be expected to delay plans to tax agricultural greenhouse gas emissions. Bloomberg News

The World

Monday, October 16, 2023 A11

Fierce fighting persists in Ukraine’s east as Kyiv reports nonstop assaults by Russia on a key city

‘Ring of fire’ eclipse: Cheers and shouts of joy as it moves across the Americas

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By María Verza & Iván Valencia The Associated Press

YIV, Ukraine—Ukrainian officials reported intense combat as Russian forces relentlessly assaulted the eastern Ukrainian city of Avdiivka for a fifth consecutive day Saturday. City leader Vitalii Barabash reported that Moscow was deploying additional forces to encircle the strategically important city in the eastern Donetsk region, situated just north of the Russian-held regional capital, also called Donetsk. “The enemy hasn’t stopped either assaulting or shelling positions around Avdiivka,” Barabash said on Ukrainian television. Around 1,600 civilians remain within the city, a stark contrast to its prewar population of about 31,000. Russian President Vladimir Putin launched his war against Ukraine in February 2022. Barabash’s comments came after Russia’s UN ambassador, Vassily Nebenzia, told a UN Security Council meeting on Friday that the intensified attacks in the east amounted to a new stage in Moscow’s campaign in Ukraine.

“Russian troops have, for several days now, switched over to active combat action practically throughout the entire front line....The socalled Ukrainian counteroffensive can therefore be considered finished,” he said. But Ukrainian President Volodymyr Zelenskyy said earlier this week that Ukrainian forces were keeping Russian troops at bay and “holding our ground.” Donetsk’s acting regional governor, Ihor Moroz, said Saturday that 22 civilians were wounded in Russian shelling in the region over the previous 24 hours. Further north, fighting along the northern stretch of Ukraine’s eastern front has “significantly worsened” in recent days, Gen. Oleksandr Syrskyi, commander of Ukraine’s land forces, wrote on Facebook Saturday. Syrskyi, who visited troops in the

The grave of Ukrainian soldier Andrii Kozyr, who was reburied the day before, in the village of Hroza near Kharkiv, Ukraine on Friday, October 6, 2023. The Russian rocket hit a cafe where friends and relatives gathered for the wake for Kozyr, killing at least 51 civilians in one of the deadliest attacks in recent months. AP Photo/Alex Babenko

area, said that Russian forces had regrouped following losses and were mounting attacks around the village of Makiivka and pushing toward the city of Kupiansk, with the goal of encircling Kupiansk and reaching the Oskil River. Also on Saturday, two women— ages 60 and 42—were killed in two Russian shelling attacks in the city of Beryslav in Ukraine’s partly-occupied Kherson region.

In Russia, the Defense Ministry said air defense systems shot down t wo U k rainian drones over the Black Sea near the southern resort city of Sochi on Saturday morning. A drone was also shot down in the Belgorod region bordering Ukraine during the afternoon, regional Gov. Vyacheslav Gladkov said. Ukrainian officials have never acknowledged responsibility for attacks on Russian territory. AP

Louvre Museum and Versailles Palace evacuated after getting bomb threats By Angela Charlton & Jeffrey Schaeffer The Associated Press

ARIS—The Louvre Museum in Paris and Versailles Palace evacuated visitors and staff Saturday after receiving bomb threats, police said. The French government started deploying 7,000 troops to increase security around the country after a fatal school stabbing by a suspected Islamic extremist. The evacuations of two of the world ’s most-visited tourist sites come amid heightened vigilance around France following Friday’s school attack, and global tensions linked to the war between Israel and Hamas. President Emmanuel Macron’s government is worried about fallout from the war in France. A larms rang out through the Louvre when the evacuation was announced, and in the underground shopping center beneath its signature pyramid. Paris police said officers searched the museum after it received written bomb threats. The Louvre communication service said no one was hurt and no bomb was found, so the museum will reopen as usual on Sunday. The Louvre, home to masterpieces such as the Mona Lisa, welcomes between 30,000 and 40,000 visitors per day and several million annually. The former royal palace at Versailles also received bomb threats, and the palace and its sprawling gardens were being evacuated while police examine the area, according to national police. A major Paris train station,

Staff leave the Louvre Museum as people are evacuated after it received a written threat, in Paris on Saturday, October 14, 2023. The Louvre Museum says it is closing for the day and evacuating all visitors and staff after a threat. AP Photo/Thomas Padilla

Gare de Lyon, was being evacuated after the discovery of a possible bottle explosive, police said. Earlier Saturday, Macron’s office announced the mobilization of 7,000 soldiers by Monday night, after the government heightened the national threat alert in the wake of the school attack in the northern city of Arras. The “attack emergency” threat posture allows the government to temporarily deploy extra troops to protect public places, among other measures. Counterterrorism authorities are investigating the Arras stabbing, and the suspected assailant and several others are in custody, prosecutors said. The attacker’s exact motive remains unclear, and he is reportedly refusing to speak to investigators. The suspect had been under recent surveillance by intelligence services for Islamic radicalization. He was

detained Thursday for questioning based on his phone conversations in recent days, but investigators found no sign that he was preparing an attack, Interior Minister Gerald Darmanin said. He said French intelligence suggested a link between the war in the Middle East and the suspect’s decision to act. Court documents viewed by The Associated Press show the suspect, identified by prosecutors as Mohammed M., is from the Ingushetia region in Russia’s Caucasus Mountains, which neighbors Chechnya. Some schoolchildren, parents and personnel returned to the GambettaCarnot school Saturday, as police stood guard outside. Classes were canceled, but the school reopened for those who wanted to come together or seek support. Trauma specialists described the importance of addressing the emo-

tions and revisiting the scene soon after horrific events. One mother said she came with her 17-year-old daughter in a show of defiance against extremism, and to overcome the fear of returning to a site where children were locked down for hours after the stabbing. Another mother came to seek guidance from counselors about how to support her two sons, who witnessed the attack in their schoolyard. “As adults, we are managing with difficulty to take a step back, but for them, they’re children,” said Emily Noge, arriving at the school with her sons and partner. ‘’It’s always the same moments that come back: The schoolyard, the chairs to protect themselves, the stabbings, the whys. ‘Why us? Why Arras? Why the teachers? They were good teachers. They were there to protect us,” she said. For many, the attack echoed the killing of another teacher, Samuel Paty, almost exactly three years ago near his Paris area school. He was beheaded by a radicalized Chechen later killed by police. All French middle schools and high schools will open later Monday so that staff can talk about the attack, and prepare to reassure students and address what happened, the Education Ministry announced. Each establishment will hold a minute of silence to reflect and honor victims of all attacks targeting schools. Macron urged the people of France to “stay united.” Jeffrey Schaeffer reported from Arras. Thomas Padilla in Paris, and Nicolas Garriga in Arras, contributed to this report.

Poles vote in election that will determine whether right-wing party stays in power By Monika Scislowska The Associated Press

A R SAW, Pol a nd—Vot i ng has begun in a high-stakes election in Poland that will chart the way forward for the European Union member on NATO’s eastern flank. The outcome of Sunday’s election will determine whether the rightwing Law and Justice party will win an unprecedented third straight term or whether a combined opposition can win enough support to oust it. Many Poles feel like it is the most important election since 1989, the year that marked the end of decades of

communism. The health of the nation’s democracy, its legal stance on LGBTQ+ rights and abortion, and the foreign alliances of a country that has been a crucial ally to Ukraine, are all at stake. Political experts say the election will not be fully fair after eight years of governance by Law and Justice that has eroded checks and balances to gain more control over state institutions, including the courts, public media and the electoral process itself. Retired nurse Barbara Burs, 63, voted early in Warsaw, saying she cast her vote to change the government because she wants a better Poland for her children and grandchildren—a “ just and undivided Poland.”

Some 29 million Poles aged 18 and above are eligible to vote. They will choose 460 members of the lower house, or Sejm, and 100 for the Senate for four-year terms. A referendum on migration, the retirement age and other issues is being held simultaneously. Opposition groups oppose the referendum, viewing it as a way to mobilize the ruling party’s electorate in what appears to be a close and unpredictable race. Some called on voters to boycott the referendum. At one polling station, people could be seen apparently refusing to vote in the referendum, casting just two ballots into the assigned boxes. They were

given three, one for the Sejm, one for the Senate and one for the referendum. More than 31,000 voting stations across Poland will be open from 7 a.m. to 9 p.m. (0500-1900 GMT) on Sunday. Over 400 voting stations will operate abroad. Exit poll results by global polling research firm Ipsos will be announced on state broadcaster TVP and commercial stations TVN and Polsat when polls close at 9 p.m. (1900 GMT). The margin of error is plus or minus 2 percentage points. Individual parties need to get at least 5 percent of votes to win seats in parliament; coalitions need at least 8 percent of votes.

A NCÚ N, Mé x ico —First came the darkening skies, then the crescent-shaped shadows on the ground, and finally an eruption of cheers by crowds that gathered Saturday along the narrow path of a rare “ring of fire” eclipse of the sun. It was a spectacular show for millions of people across the Americas as the moon moved into place and blocked out all but a brilliant circle of the sun’s outer edge. Hundreds of people filed into the planetarium in the Caribbean resort city of Cancún to watch the eclipse. Some peered through box projectors, while others looked through telescopes and special glasses. Excited children whistled, as some adults raised their arms toward the sky as if to welcome the eclipse. Vendors selling plants outside observed the dance between the moon and the sun in a more natural way—with the help of trees as the shifting sunlight filtered through the leaves, casting unique shadows on the sidewalk. “There was silence and like a mist, as if it was dusk, but only a few minutes later the birds were singing again,” said Carmen Jardines, 56, one of the vendors. Artemia Carreto, was telling passersby about her experience as a child in southern Mexico, when they were told to look instead at the river where it reflected beautifully on the sand beneath the water. While she wasn’t near a river this time, Carreto said she was carried away by the sensations induced by changing temperatures and a feeling of heaviness that she pegged to the rotation of the Earth. For Pilar Cáceres, there was a sense of energy. “It is something that nature brings us and that we must watch,” said the 77-year-old retired elementar y school teacher who watched the eclipse by following its shadow through a piece of cardboard. A ncient Maya astronomers who tracked the movements of the sun and moon with precision referred to eclipses as “broken sun.” They may have used dark volcanic glass to protect their eyes, said archeologist Arturo Montero of Tepeyac University in Mexico City. Unlike a total solar eclipse, the moon doesn’t completely cover the sun during a ring of fire eclipse. When the moon lines up between Earth and the sun, it leaves a bright, blazing border. The entire eclipse—from the moment the moon starts to obscure the sun until it’s back to normal—lasted 2 1/2 to three hours at any given spot. The ring of fire portion was from three to five minutes, depending on the location. Saturday’s US path: Oregon, Nevada, Utah, New Mexico and Texas in the US, with a sliver of California, Arizona and Colorado. Then: Mexico’s Yucatan Peninsula, Belize, Honduras, Nicaragua, Costa Rica, Panama, Colombia and Brazil. Much of the rest of the Western Hemisphere got a partial eclipse. NA SA and other groups livestreamed the event. In the US, some eclipse watchers traveled to remote corners of the country to try to get the best view possible while those in Albuquerque got a double treat as the eclipse coincided with an international balloon fiesta that typically draws tens of thousands of spectators and hundreds of hot air balloon pilots from around the world. There were hoots, hollers and

yelps from the balloon launch field as the moon began to cover the sun. Some pilots used their propane burners to shoot flames upward in unison as the spectacle unfolded. “It’s very exciting to be here and have the convergence of our love of f lying with something very natural like an eclipse,” said Allan Hahn, a balloon pilot from Aurora, Colorado. At Br yce Canyon Nat iona l Park in Utah, enthusiasts hit t he t r a i l s b e fore su n r i se to stake out their preferred spots among the red rock hoodoos. With the ring of fire in full form, cheers echoed through the canyons of the park. “I just think it’s one of those things that unites us all,” said John Edwards, a cancer drug developer who traveled alone across the country to watch the eclipse from Bryce Canyon. K irby Ja mes a nd Ca rol ine McGuire from Toronto didn’t re a l i z e t he y w ou l d b e i n a prime spot when they planned t heir t r ip to sout her n Ut a h. “Nothing that you can read could prepare you for how it feels,” said Kirby James, 63, a co-founder of a software company. “It’s the moment, especially when the ring of fire came on, you realized you were having a lifetime experience.” For the small towns and cities along the path, there was a mix of excitement, worries about the weather and concerns they’d be overwhelmed by visitors flocking to see the annular solar eclipse. In Eugene, Oregon, oohs and ahs combined with groans of disappointment as the eclipse was intermittently visible, the sun’s light poking through the cloud cover only at times. In southern Colombia, the Tatacoa desert played host to astronomers helping a group of visually impaired people experience the perfect golden ring created by the moon and sun through raised maps and temperature changes. Colombia Science Minister Yesenia Olaya said moments like this should inspire people to promote science among children, so they see it as “a life project.” Juan Pablo Esguerra, 13, waited months to make the trip to the desert with his father to witness the eclipse. “I like the astronomy because it’s a spectacular experience,” he said. “This is the best that I’ve seen in my life.” In Mexico City, some children came dressed as astronauts as thousands of people gathered at the main esplanade of the National Autonomous University of Mexico, the country’s main public college. People shared special glasses, and the university set up telescopes. Saturday’s eclipse marked the first for Brazil since 1994. The country’s national observatory broadcast the event online while thousands flocked to parks and beaches in the north and northeastern regions to soak in the phenomenon. Next April, a total solar eclipse will crisscross the US in the opposite direction. That one will begin in Mexico and go from Texas to New England before ending in Canada. The next ring of fire eclipse is in October next year at the southernmost tip of South America. Antarctica gets one in 2026. It will be 2039 before another ring of fire is visible in the US, and Alaska will be the only state in its direct path. Valencia reported from Tatacoa Desert, Colombia. AP reporters Mauricio Savarese in Sau Paulo, Brazil; Claire Rush in Eugene, Oregon; Patrick Whittle in Portland, Maine; Katie Oyan and Susan Montoya Bryan in Albuquerque, New Mexico; Brady McCombs in Garfield County, Utah; and Astrid Suarez in Bogota, Colombia contributed to this report.

A12 Monday, October 16, 2023 • Editor: Angel R. Calso

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editorial

How PHL can protect a trillion-peso sector

ollowing a two-year period of financial challenges and restrictions during the Covid-19 pandemic, revenge leisure travel and revenge spending increased significantly in 2022. Domestic tourism spending hit P1.50 trillion last year, enabling the sector to post an outstanding 92 percent growth from a stunted 2021 gain of only P782.57 billion.

Domestic tourism is lucrative to local economies. It creates employment and helps community businesses generate revenues. The more domestic tourists they attract, the bigger the potential to earn for the whole community. Social media is a powerful tool that can make or break a tourist destination. When visitors share their travel experiences online, their social media posts can influence the way people make travel decisions. A tourist spot can attract more visitors based on the reviews of others. Unfortunately, it only takes one dishonest local business taking advantage of visitors to destroy the image of a travel destination. When local businesses and service providers engage in behaviors that enrage fellow Filipinos visiting their place, this will adversely affect the future growth of the local economy. This behavior is called “tourist harassment,” like the viral overpriced meals, egregious service charges, and overcharging transportation providers. Unchecked, these shameful deeds can destroy the red-hot trillion-peso domestic tourism sector. Maximizing the growth of domestic tourism requires a whole-of-nation approach. Government has to do its part by improving needed infrastructure, like airports roads and bridges. Although our airlines serve as the linchpin of the domestic tourism sector by providing affordable fares to enable more Filipinos to visit regional tourist destinations, local industry players play the most significant role in helping deliver memorable visitor experiences. It’s the responsibility of local front liners to delight guests with thoughtful gestures that make their stay enjoyable. Low-cost airline Cebu Pacific cornered 57 percent of domestic market share in 2022 as passengers flown in the past year grew at an outstanding pace of 335 percent to 14.8 million passengers. For 2023, the Civil Aeronautics Board said domestic passenger traffic grew by more than half to 14.56 million in the first semester, from 9.69 million a year ago. This translates to 65 percent of the total volume in the first half of 2022, signaling the healthy return of domestic travel after pandemic restrictions were lifted nationwide. Operating the widest network of 35 domestic routes among all Philippine operators, Cebu Pacific and its regional unit Cebgo flew over half of the passenger total in the first semester of 2023 at 7.65 million passengers. Asked how the airline encourages Filipinos to travel more frequently to the tourist spots in the regions, Carmina Romero, Cebu Pacific Director for Corporate Communications, said: “Cebu Pacific is committed to offer safe, reliable, and affordable air travel. We officially have the widest domestic network. Passengers look forward to our seat sales to domestic destinations. We even have seat sales specific to the Visayas and Mindanao to encourage air travel in those areas.” She said the fourth quarter is looking rosy, with October and November picking up due to Undas traffic, driven by domestic demand. “Overall, the fourth quarter looks good with load factor expected to exceed pre-pandemic levels. In September, which is lean season, systemwide capacity was at 94 percent of pre-Covid, with domestic at 99 percent and international at 81 percent. The market has been responsive to promotional activities and has been driving demand as well.” Tourism Secretary Christina Garcia Frasco earlier said the country will meet 100 percent its domestic tourism targets this year. To prevent another incident of price gouging in our tourism destinations, she said the DOT has been coordinating with the Department of Trade and Industry to ensure that reasonable pricing standards are upheld for consumer protection. “Tourism is a shared responsibility, and it is in helping each other along this period of recovery that we can fully enjoy the benefits that tourism brings,” Frasco said. Tourism is a people-based experience, rich in human contact. Visitor satisfaction is affected by the interaction with everyone they encounter in the community. Filipinos are generally friendly and hospitable, but a few local players have yet to learn that tourism is a reputation-dependent sector. Price gouging, poor quality of service, and rudeness are a sure way to damage the reputation of even a popular tourist destination. It would do well for local government units, the DOT, and local tourism establishments to work together to enhance the attractiveness of their tourist spots. It pays to remember that a great visitor experience involves not only a unique tourist destination. Visitors will endorse the place if they leave feeling happy and satisfied with their newfound adventure.

Ombudsman asked to look into Pantawan 2 reclamation Atty. Jose Ferdinand M. Rojas II

RISING SUN

wo environmental NGOs, Kahugpungan Para sa Kinabuhi ug Kinaiyahan (Kinaiyahan) and Friends of the Environment in Negros Oriental (FENOr), along with five coastal community members in Brgy. Tinago, submitted a 44-page complaint before the City/Provincial Fiscal last September 29. They are asking the Office of the Ombudsman to investigate the Pantawan 2 extension reclamation project. The Pantawan 2 extension reclamation project started in the first quarter of last year. The area in question is a 1.9-hectare reclamation site facing the coastal community of Purok Ubos, Brgy. Tinago, Dumaguete City. It can be recalled that the Philippine Reclamation Authority (PRA) has issued a Cease and Desist Order against the project because it lacks the necessary PRA approvals. An Environmental Compliance

Certificate (ECC) was granted to the Pantawan 2 reclamation on June 18, 2019. However, this ECC was suspended by the Environmental Management Bureau (EMB) in September 2019 due to “project implementation sans a Notice to Proceed.” The DENR-issued Area Clearance given in December 2019 only covered the development project along Rizal Boulevard, Barangay Poblacion 4, Dumaguete City.

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The complainants say that the Pantawan 2 extension project is, therefore, an illegal reclamation. The coalition NoTo174Dumaguete made an inquiry and subsequent followups with DENR Region 7 and the PRA from March until September 23, 2023. The agencies wrote back to say that “no application to reclaim was received by the PRA and that DENR 7 has not issued or recommended the issuance of an ECC” in relation to the Pantawan 2 extension reclamation. The project is worth P74 million, funded by the local government through the Appropriation Ordinance No. 41, Series of 2022, passed by the outgoing Dumaguete City Council on June 23, 2022. The Ordinance includes the following items: (1) continuance of the construction of shoreline protection from Press Club until Barangay Poblacion 1 (P40 million); (2) construction of an Olympic-sized swimming pool (P30 million); and (3) the continuance of the landscape improvement of Rizal Boulevard Phase 3 (P4 million). The unauthorized extension of Pantawan 2 raises evidence of impu-

LITO GAGNI

ttempts to besmirch the reputation of DOTr Secretary Jimmy Bautista have gone on overdrive, noticeable even in the suspension of LTFRB Chair Teofilo Guadiz following allegations of corruption in the agency. It would seem that the low-key secretary has stepped on the toes of powerful syndicates in his thrust to improve the agency. Lending a voice of support was the Chairman of the Philippine National Railways, Michael Ted Macapagal, who scored certain individuals and groups for involving Bautista in the controversy swirling around Guadiz who was suspended by President Ferdinand Marcos Jr. for a messy involvement in franchise applications of public utility vehicles. Macapagal pointed out that “the DOTr chief has nothing to do whatsoever with LTFRB’s day-to-day operation. He said the LTFRB, although an attached agency of DOTr, has its own mandate.” Its officials, he explained, enjoy full autonomy. “Thus he has nothing to do with respect to the controversy on the purported sale of franchise applications for certain profitable routes.” “Secretary Bautista is in total sympathy with the bus and jeepney operators,” Macapagal said. “He finds it unconscionable that anybody should be made to pay any amount in

excess of what the government prescribes for a franchise.” Bautista, he said, has been on the ball pursuing infra projects that would deliver the kind of government service that the public wanted. The PNR chief warned the aggrieved parties to be wary of outside forces whose main objective is to cast aspersion on the DOTr chief who is bent on introducing the needed reforms to push for the economic recovery of the country via the sustained push for new infra projects such as airports for the tourism come-on that would mean more revenues for the government. “Some people are out for blood because of one thing and one thing alone—they are interested in his position,” Macapagal said. According to him, the DOTr chief has introduced far-ranging reforms in the agency, and these do not sit well with the syndicates operating within the system.

Macapagal pointed out that “the DOTr chief has nothing to do whatsoever with LTFRB’s day-today operation. He said the LTFRB, although an attached agency of DOTr, has its own mandate.” Its officials, he explained, enjoy full autonomy. “Thus he has nothing to do with respect to the controversy on the purported sale of franchise applications for certain profitable routes.”

“To preclude any appearance of corruption even at the PNR, I recently told all my friends, relatives, even acquaintances not to transact business on my behalf,” Macapagal said. “Those interested in landing a contract with the agency should go through the normal process.” Secretary Bautista, he said, is sensitive to the plight of our riding public. In fact, Bautista had suggested the date for the stoppage of operation of PNR train routes in Manila effective January 15, 2024 to give way to the construction of the NorthSouth Commuter Railway Project. Macapagal said Bautista picked that date so as not to disrupt the travel schedule of commuters during the holiday season. He added that the secretary has, in fact, sought for the dispatch of emergency bus services if necessary with disruption arising from the construction of the North-South Commuter project. Macapagal said there are many dimensions in Bautista’s playbook for

nity, illegally disbursing government funds in violation of procurement laws and policies. The filed complaints cited violation of sections 3(e) and 3(g) of RA 3019 or the Anti-Graft and Corrupt Practices Act, which declares that it is unlawful for any public officer to cause “any undue injury to any party, including the government, or giving any private party any unwarranted benefits, advantage or preference in the discharge of his official administrative or judicial functions through manifest partiality, evident bad faith or gross inexcusable negligence.” The complainants are demanding accountability from those responsible for creating an environmentally destructive project that will displace the urban and fisherfolk communities. Moreover, they are urging the city government to stop the illegal reclamations—disguised as shoreline protection—and, instead, “invest in smarter, less expensive, and regenerative projects that protect our marine ecosystem, enable coastal forestry, and ensure the stewardship of fishing communities.”

moving the needle on the country’s push to reach middle-income status. A fortnight ago, the Department of Transportation was in talks with the Export-Import Bank of Korea’s (KEXIM) support to fund several infrastructure projects that will create an exponential socio-economic growth by developing the country’s transportation landscape. The DOTr and KEXIM held a coordination meeting to discuss and assess current projects funded by the latter such as the new Dumaguete Airport Development Project, the Philippine Coast Guard’s (PCG) Maritime Safety Enhancement Project, New Cebu International Container Port Project, and the LRT-2 Cogeo Extension in Rizal. For Bautista, KEXIM’s assistance in the design and implementation of transport projects can give maximum benefits for commuters and passengers. “We hope to agree on how best to move forward with such projects as the new Dumaguete Airport, the new Cebu International Container Port, extension of LRT 2 as well as the Pangasinan airport feasibility study and the maritime safety enhancement project,” he said. Somehow, Bautista remains unperturbed by the way he is being portrayed by those he had displeased and is just concentrating on his job. He believes though that with KEXIM’s support, Filipinos are guaranteed a better passenger experience through airport, seaport and railway projects. “We have come to believe our goals are achievable,” he said.

Opinion BusinessMirror

www.news.businessmirror@gmail.com

Monday, October 16, 2023 A13

Global tax collaboration We must not take water for granted: We must work together to manage a finite, precious resource Joel L. Tan-Torres

DEBIT CREDIT

am pleased to note that the Philippines, as represented by Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr., participated in the Organization for Economic Cooperation and Development (OECD) Forum on Tax Administration (FTA) annual plenary meeting in Singapore from October 11 to 13, 2023. This event gathered around 50 tax commissioners and delegates worldwide, including representatives from international organizations, regional tax administration bodies, businesses, and academia. At this meeting, the Tax Commissioners agreed on new areas of collaboration to pave the way for transforming the future of tax administration. In my past columns “Engaging with the Global Tax Community” and “Tax Inspectors Without Borders,” I have espoused that the BIR participate more proactively with its global tax counterparts and international tax organizations. This is an opportunity for the BIR to learn best practices in tax policy and administration with the global tax community. In particular, the OECD has been engaged in various developments including the Two-Pillar international tax package, tax transparency, tax policy on climate change, Base Erosion and Profit Shifting, international tax audits, criminal tax investigations, effective use of automatically exchanged tax information, use of digital tools and technology for tax audits or TaxTech, specialized industry audits, and auditing digital trade. Both the BIR and the Filipino taxpayers will gain a lot in being part of the discourse and implementation of these trends and developments. The tax leaders who participated in the FTA of the OECD discussed and agreed on the following: Pursue a number of projects to help realize the vision of Tax Administration 3.0, utilizing the new technology tools to increasingly improve taxpayer compliance, control tax gaps, and significantly reduce tax compliance burdens; Collaborate to ensure the effective implementation of the global minimum tax under Pillar Two of the Two-Pillar Solution, including exploring how cooperation between tax administrations can be deepened to support compliance, collaboration, and certainty in the administration of the global minimum tax rules; and Enhance the effectiveness and reach of global capacity-building efforts through closer partnerships with other international and regional organizations. Continued participation of the BIR in the FTA can bring about important outcomes for the BIR and the tax community in the Philippines. All of us could benefit from insights on

Continued participation of the BIR in the FTA can bring about important outcomes for the BIR and the tax community in the Philippines. All of us could benefit from insights on the BEPS and Two-Pillar initiatives, to help support the formulation of the appropriate tax legislation, put in place the necessary BIR administration measures, and prepare the business community to develop its strategies under the new regime. the BEPS and Two-Pillar initiatives, to help support the formulation of the appropriate tax legislation, put in place the necessary BIR administration measures, and prepare the business community to develop its strategies under the new regime. Further, the BIR can improve its capabilities with the capacity building involvement in the Inspectors Without Borders and transfer pricing programs of OECD. With the forthcoming approval of the laws of Ease of Paying Taxes and Taxpayer Bill of Rights and Obligations, the implementation of these laws can be streamlined with inputs and technical assistance from the OECD. I hope that the BIR, through the leadership of Commissioner Lumagui, can build up this OECD participation and collaboration to bring about much-desired outcomes for the BIR and the taxpayers. Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm JL2T Consultancy.

By Dr. Qu Dongyu

his year’s World Food Day celebrates one of the planet’s most precious resources: water. It’s essential to life on Earth. It covers the majority of the planet’s surface, makes up over 50 percent of our bodies, helps keep us fed, supports livelihoods and is central to achieving the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs). So how should we approach the complex challenge of shielding our existing freshwater resources and aquatic food systems from pollution and the impacts of the climate crisis, while ensuring that people have equal access to water?

With about 70 percent of all freshwaters going to agriculture, changing the ways we produce our food, fiber, and other agricultural products is the most crucial task. It is also where failure to act will have the gravest consequences. Freshwater is not infinite, and we need to stop taking it for granted. Consider that over the last two decades, each of us on earth has lost approximately one-fifth of the freshwater available to us. For some people, the reality is much worse. In some regions, in fact, it runs closer to one-third. Unless we act urgently, we are on course to increase our water use by more than a third by 2050 globally, given our planet’s growing population. That means, collectively, we risk reaching a point of no return. Rapid population growth, urbanization, industrialization, economic development, and the climate crisis have all taken a toll on our water resources. Combined with water pollution, over-extraction and lack of coordinated management, this creates a complex mix of overlapping challenges. Increased extreme weather events, drought and flooding are stressing our ecosystems, with daunting consequences for global food security. Smallholder farmers, particularly the poor, women, youth, Indigenous Peoples, migrants, and

refugees, are the most vulnerable.

Approaching a complex challenge

AT the heart of the balancing act to address these combined challenges must be securing sufficient water for agriculture, while reconciling the competing water needs of other economic activities, especially as urbanization accelerates. Good governance is crucial for sustainable and equitable water allocation, through an integrated and inclusive approach with all partners. Water governance and tenure, water pricing, regulations, and incentive measures, are needed to drive change and ensure equitable access to clean and safe water resources. We need to implement integrated water resources management through coordinated development and management of water, land, and related resources to maximize human well-being, without compromising the sustainability of vital ecosystems. For this we need both national and regional designs. Investment in innovative, efficient water management practices is vital, including in modern irrigation and storage technologies and science-based solutions to address water scarcity and harnessing flooding; so that we are building a watersaving and resilient society, including through managing more effectively the water-food-energy nexus.

Action on the ground

WE can and are working to make these things happen. For example, in the Sahel FAO is providing mechanization opportunities to farmers to improve their water infrastructure and is supporting rural women and their households to access water. Globally, irrigated land produces 40 percent of food from 20 percent of arable land—yet it remains an untapped potential. To help deliver on this potential, FAO is developing a global irrigation needs and potential mapping methodology, and we look forward to working with countries to implement it. Appropriate financing mechanisms and investments, at the right and big scale, are key to building and maintaining capital-intensive infrastructure. Resilience-based solutions are key. Prioritizing green and blue infrastructure to promote agriculture and fisheries respectively can enhance water quality, maintain biodiversity and provide other benefits to agrifood systems and rural areas. In Sri Lanka and Zambia, for example, FAO is piloting multifunctional paddy fields for fish and shrimp farming, in addition to rice production. Such value-added infrastructure generates benefits by recharging groundwater, controlling floods and providing ecosystem services.

All actors must be on board

WE can and must do more, together, with all the various actors making their distinct, yet inter-related contributions. Governments need to design science- and evidence-based policies that capitalize on data and innovation, and coordinate across sectors to plan and manage water better.

Water, energy and food are inextricably linked, and for policies to be successful, it’s important they manage often-competing interests without compromising the health of our ecosystems. Our farmers need to become agents of water management and be equipped with the right tools to perform that function sustainably. Farmers, forest-dependent people, livestock producers and those working in the blue economy of fisheries and aquaculture already manage water on a daily basis. Supporting and encouraging them to take leadership in finding and implementing water solutions is both the obvious and the smart thing to do. Businesses need to become water stewards. That means making concrete commitments to improving water use efficiency and reducing pollution across the supply chain. This doesn’t just benefit nature and society, but businesses too. Taking water governance seriously can boost their reputation and profits and help them avoid risks that water scarcity, floods and pollution could pose to operations in the future. Let me underline again that all of us need to stop taking water for granted. Making informed decisions about the products we buy, wasting less water and preventing flooding disaster and pollution are easy ways for everybody to contribute to positive action for a future of prosperity for people and the planet. They are central to achieving what we at FAO refer to as the Four Betters: better production, better nutrition, a better environment and a better life—to ensure no one is left behind. Dr. Qu Dongyu is the Director-General of the Food and Agriculture Organization of the United Nations.

Adani’s new mega port can lure world’s biggest ships to India By P. R. Sanjai

hen Zhen Hua 15—a heavy load cargo carrier sailing from the East China sea—unloads at Vizhinjam port this Sunday, it’ll do more than just set down the site’s first gigantic cranes. It’ll also put India on the map for world’s biggest container ships. Located near the southernmost tip of the country, the Vizhinjam transshipment container port—the first of its kind in India that was inaugurated on October 15—will allow India to grab a bigger slice of the international maritime trade currently dominated by China. It will also bolster its aspirations to be

an alternative manufacturing hub by reducing logistics costs for cargo coming to and from the country. The new terminal will be another feather in the cap of Gautam Adani’s conglomerate, which faced a scathing short seller attack in January alleging corporate malfeasance—charges the Adani Group has denied. With a dominance that already spans ports, mines, airports and power utilities, Vizhinjam will further cement the billionaire’s status as India’s infrastructure king. The proximity to the international shipping routes that accounts for 30 percent of global cargo traffic and a natural channel that goes up to 24 meters below the sea makes Vizhinjam an ideal hub for some of the

world’s biggest ships to call in. Until now, the biggest container ships have been skipping India because its harbors weren’t deep enough to handle such vessels and docking at neighboring ports such as Colombo, Dubai and Singapore. Transshipment refers to transferring cargo from an original ship to another, bigger mother ship at a port on the way to the cargo’s final destination. The much-awaited deep-sea port along Kerala’s scenic coastline has been developed by Adani Ports and Special Economic Zone Ltd. in collaboration with the local state government. Adani Ports, India’s largest private sector port operator with a 30 percent market share, is also develop-

ing Israel’s Haifa port and plans to build a hub in Vietnam, as part of its expanding global footprint. “The Indian ocean is 50 percent of sea trade,” said Chakri Lokapriya, chief investment officer at TCG Asset Management Co. in Mumbai. “The Vizhinjam port with its natural advantages will improve operating margins for Adani Ports.” Poor shipping connectivity has hindered India’s integration into the global value chain, the Reserve Bank of India said in a 2022 report. India’s container traffic was only 17 million TEUs in 2020 versus China’s 245 million TEUs, according to a February 7 statement from the ports ministry. Bloomberg

Seafarer’s refusal of medical treatment is not disqualification on disability benefits Dennis Gorecho

Pinoy Marino Rights

seafarer’s refusal to consent to a medical procedure does not disqualify him from availing himself of disability benefits. The Supreme Court ruled in Roberto Rodelas, Jr., v. MST Marine Services (Phils.), Inc. (GR 244423. November 04, 2020) that seafarers do not lose their right to consent to the prescribed medical procedure of the company-designated physician. The seafarer was medically repatriated due to back pain. He received several consultations and treatments. The orthopedic surgeon then recommended that he undergoes spine surgery or receive epidural injections. The company then terminated the seafarer’s treatment due to his inability to decide on undergoing the recommended course of treatment of spine surgery. The company doctor issued an assessment of Grade 11.

He then pursued legal action before the National Conciliation and Mediation Board (NCMB) where he received a favorable decision awarding him permanent total disability benefits under the Collective Bargaining Agreement (CBA) amounting to $95,949.00 plus attorney’s fees. The Court of Appeals (CA) issued a decision modifying the award only to $7,465.00 as permanent and partial disability benefits corresponding

to a Grade 11 disability under the POEA contract. The Supreme Court reversed the CA decision and reinstated the NCMB award. The employer has the option to either wait for the seafarer to consent to the procedure or to terminate it within the 120/240-day period in which it should make a final and definite assessment of the seafarer’s disability. In terminating a seafarer’s treatment, the employer either recognizes the lack of a final assessment, or the finality of its interim assessment The Court noted that the company failed to prove that seafarer’s refusal to undergo surgery was unjustified. The company-designated physician said that the results of the surgery may range from “improvement of functional capacity with residual disability to full functional capacity.” Thus, even if the seafarer consented to surgery, there is no conclusive proof that he will be restored to his previous capacity, or that he will be able to return to his duties. He will

The Court noted that the seafarer did not refuse treatment to address and resolve his condition. There is no showing that surgery was the only way to address seafarer’s condition as the companydesignated doctor did not inform him of such fact or warn him of the effects of his choice.

experience limitation of movement including the bending and stretching movement, most specially carrying objects. The Court gave credence to seafarer’s reasons for his reluctance to undergo an invasive medical procedure. Assessing the risks, he feared not being able to return to his sea duties even after receiving surgery. He can no longer be rehired, as the company will not risk the seafarer to send on board the vessel knowing that he has back injury. The Court acknowledged the right of a person to decide on what can and cannot be done to his or her body, and to arrive at an informed

consent on a potentially dangerous medical procedure. The Court cited the US case of Schoendorff v. Society of New York Hospital (which involved unwanted treatment performed by a doctor) on the doctrine of informed consent within the context of physicianpatient relationships. US Supreme Court Justice Benjamin Cardozo’s oft-quoted opinion upheld the basic right of a patient to give consent to any medical procedure or treatment: “Every human being of adult years and sound mind has a right to determine what shall be done with his own body; and a surgeon who performs an operation without his patient’s consent, commits an assault, for which he is liable in damages.” From a purely ethical norm, informed consent evolved into a general principle of law that a physician has a duty to disclose what a reasonably prudent physician in the medical community in the exercise of reasonable care would disclose to his patient as to whatever grave risks of injury might be incurred from a pro-

posed course of treatment, so that a patient, exercising ordinary care for his own welfare, and faced with a choice of undergoing the proposed treatment, or alternative treatment, or none at all, may intelligently exercise his judgment by reasonably balancing the probable risks against the probable benefits. In Magsaysay Maritime Corp. v. Rodel Cruz, (GR 204769, June 06, 2016), abandonment cannot be presumed from the acts of the seafarer; there must be a deliberate intention on his part by some overt acts to abandon treatment, which acts are not present here. The Court noted that the seafarer did not refuse treatment to address and resolve his condition. There is no showing that surgery was the only way to address seafarer’s condition as the company-designated doctor did not inform him of such fact or warn him of the effects of his choice.

Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 09175025808 or 09088665786.

A14 Monday, October 16, 2023

Peza approves P131.76-B investments from Jan to Oct M T

PALACE ISSUES EO MANDATING FOOD STAMP FLAGSHIP PROJECT By Jovee Marie N. dela Cruz

By Andrea E. San Juan @andreasanjuan

HE Philippine Economic Zone Authority (PEZA) said it has approved P131.76 billion worth of investments from January to October 2023, 85 percent of its P154-billion investment approvals target for the year.

PEZA Director General Tereso O. Panga told reporters on the sidelines of the recent signing of the Memorandum of Understanding (MOU) between Japan-based firm Advantec and PEZA that the investment promotion agency approved at its board meeting last week P131.757 billion worth of investments in Januar y to October 2023, up by 232.45 percent from the P39.632-billion investment approvals recorded in the same period last year. Asked if the agency will surpass its P300billion “fearless forecast” for the year, the PEZA chief said, “We will see. [Because when] Texas Instruments [comes in], although that’s already announced, that’s already a billion dollars.” Panga also noted that apart from Texas Instruments, Inc., the agency is expecting more big-

came from 169 investment projects. PEZA said these projects are expected to generate $3.026 billion in export receipts and create 28,521 jobs. Of the 169 investment projects, 78 are into export; 36 are into IT; 20 are facilities; 15 are into logistics; 13 are into ecozone development; five are domestic marketoriented and two are utilities.

October report

PANGA

ticket investments to enter the country. However, he added, “But I’m not at liberty to disclose.” Malacañang announced in August this year that Texas Instruments is planning to invest almost $1 billion to expand its facilities in Clark, Pampanga and Baguio. President Ferdinand R. Marcos Jr. said this proposed investment will help boost the country’s semiconductor exports. PEZA had earlier set a lower-end target for investment approvals of around P160 billion and a maximum target of P300 billion for this year. The P300-billion “fearless forecast” of PEZA for this year is more than double the P140.7- billion investments approved by the agency in 2022. The investment promotion agency said the approved P131.757-billion investments in January to October this year

MEANWHILE, for the month of October alone, PEZA approved P20.55 billion worth of investments, which came from 25 investment projects, of which 13 projects are into export; six into Information Technology (IT); three are into logistics; two are facilities and one is into ecozone development. According to the investment promotion agency, the P20.55-billion investment approvals in October alone is expected to generate $643.321 million in export receipts and create 5,500 jobs. For the remaining months of 2023, Panga said the manufacturing sector is expected to drive PEZA’s investment approvals. The PEZA chief attributed the sector’s growth to the “growing domestic market and import substitution” happening in the country. “So that we don’t have to import … if we can do the manufacturing in the Philippines, especially for basic commodities, then that’s the preferred arrangement,” Panga said.

@joveemarie

ALACAÑANG has issued Executive Order (EO) 44, establishing the “Walang Gutom 2027: Food Stamp Program” as a flagship program of the national government. According to the executive order, signed by Executive Secretary Lucas Bersamin last Thursday, “The Walang Gutom 2027: Food Stamp Program” will be primarily implemented by the Department of Social Welfare and Development (DSWD). “The DSWD, as the primary government entity responsible for the implementation and management of social welfare development programs in the country, shall be the lead implementing agency of the Food Stamp Program,” said the EO. “The DSWD shall undertake the necessary steps for the successful implementation and expansion of the Food Stamp Program, including, but not limited to, the identification of eligible beneficiaries and collaboration with relevant stakeholders to ensure efficient and timely distribution and use of food stamps,” it said. The executive order also mandated the DSWD to collaborate with other national government agencies (NGAs) and local government units (LGUs) in the program’s implementation. Additionally, it calls for the active participation and support of relevant NGAs and all participating LGUs to ensure the effective execution of the order. The DSWD was also directed to determine the appropriate staffing pattern and corresponding qualification standards for the creation of additional

positions necessary for the administration and operation of the Food Stamp Program and submit to the budget department, for review and approval, the proposed changes in the organization structure and staffing pattern of the DSWD. The implementing rules of the EO are set to be formulated by the DSWD within 30 days of the order’s effectivity. The funding for the implementation of the “Walang Gutom 2027: Food Stamp Program” will be drawn from DSWD’s appropriations and its partner agencies. The “Walang Gutom 2027: Food Stamp Program” is one of the major programs of the DSWD, which aims to decrease the incidence of voluntary hunger experienced by low-income households by providing monetary-based assistance through Electronic Benefit Transfer (EBT) cards that can be used to purchase select food commodities from eligible partner merchant stores. For the Food Stamp Program to be successful, a whole-of-government approach is required, enjoining all NGAs and LGUs to participate and support the program. Its implementation is in line with the Philippines’s commitment to realize the United Nations Sustainable Development Goal No. 2 of ending hunger, achieving food security, improving nutrition, and promoting sustainable agriculture by 2030. In addition, one of the objectives of the Philippine Development Plan 20232028 launched in June this year, as well as the administration’s 8-Point Socioeconomic Agenda, is to ensure food security and proper nutrition in the country by providing accessible, safe, and nutritious food for all Filipinos.

TAIPEI’S BEST The Taipei Economic and Cultural Office in the Philippines proudly kicks off the Taiwan “Diabolo Dance Theatre” performing tour, showcasing Taiwan's rich cultural heritage in its first stop under the "New South Bound Policy." The world-class art group wowed audiences with the mesmerizing "Light of Life" show on October 10 and 11, 2023, at CPR Auditorium and FCCEA Liberty Hall, respectively. Led by Director Le-Chun Liu, it was meant to foster cultural exchange and strengthen ties between Taiwan and the Philippines. TAIPEI ECONOMIC AND CULTURAL OFFICE IN THE PHILIPPINES

House blocs react to Duterte tirade

N an unprecedented move, leaders of several political parties within the House of Representatives have issued a joint statement expressing their disappointment and taking the “utmost exception” to the recent comments made by former president Rodrigo R. Duterte. The joint statement released by House Secretary General Reginald Sagun Velasco expressed the concerns of various political parties, including Lakas-Christian Muslim Democrats, National Unity Party, Partylist Coalition Foundation Inc., Nationalist People’s Coalition, PDP-Laban, and Nacionalista Party, regarding the former president’s recent remarks. “We, leaders of all political parties in the House of Representatives, take the utmost exception

to the remarks made by former President Rodrigo R. Duterte. Our institution, the House of Representatives, has been unwavering in its dedication to the Filipino people. It is deeply unfortunate that the former President chose to malign the very institution that for years supported many of his own legislative priorities,” said the joint statement. The leaders of the political parties clarified that this decision was made in the best interest of national security and not as a personal affront to any individual, including Vice President Sara Duterte-Carpio. “The decision to reallocate confidential funds to security agencies, especially in the context of escalating tensions with China, was taken in the best interest of national security. It is essential to understand

that this decision was made for the benefit of the nation and not as a personal affront to any individual, including Vice President Sara Duterte-Carpio,” the parties said. They also noted that confidential and intelligence funds were not allocated to other civilian departments, including Agriculture, Foreign Affairs, and Information and Communications Technology. “Casting these decisions in light of personal vendettas is a disservice to the diligent members of the House of the People and the very essence of our democratic process,” he added. In response to Duterte’s reference to the “pork barrel” system, the joint statement highlighted that it has been declared unconstitutional by the Supreme Court. See “House,” A2

Companies BusinessMirror

Editor: Jennifer A. Ng

Monday, October 16, 2023

Termination of Meralco-SMC power supply deals gets nod

By Lenie Lectura

@llectura

he Energy Regulatory Commission (ERC) has approved the termination of the power supply agreements (PSAs) forged by the Manila Electric Co. (Meralco) with two power units of San Miguel Global Power Holdings Corp. ERC’s decision paves the way for the conduct of a new competitive selection process (CSP) for 1,800 megawatts (MW) of power generation capacity. These critical capacities—1,200MW from Excellent Energy Resources Inc. (EERI) and 600MW from Masinloc Power Partners Co. Ltd. (MPPCL)—are supposedly due for delivery to Meralco for 2024 and 2025. The parties moved to terminate the PSAs because the ERC failed to act on their applications within the six-month “longstop date,” or the period in which the ERC is supposed to approve or disapprove the application of a distribution

utility (DU) and its power supplier for the implementation of their PSA. Once the longstop date is over, the power supplier has the right to terminate the PSA by providing a written notice of such termination to the DU. Meralco and EERI filed their joint application last March 24, 2021 while the joint application of Meralco and MPPCL was filed on March 18, 2021. The longstop dates lapsed on September 23, 2021 and September 17, 2021, respectively. “Yes, we have received the ERC Orders granting the termination of the 1800 megawatts. We intend to replace

this capacity through CSP in compliance with ERC and DOE [Department of Energy] rules,” Meralco Head of Regulatory Management Office Jose Ronald Valles said in a text message Friday night. New CSP rules ERC Commissioner Monalisa Dimalanta said Meralco, EERI, and Masinloc Power reminded the power firms to observe the new CSP guidelines, which “marked a significant step towards transparency, accountability, and competitiveness in the supply of power in the least-cost manner to the captive market of the DUs.” Among others, the new guidelines carry a protest mechanism dedicated for DUs. The ERC said DUs are now afforded remedies, such as blacklisting of suppliers in case a winning bidder fails to deliver the DU’s supply requirements after signing the PSA. “We already granted their request for withdrawal of the application. They have to observe the new CSP guidelines. I dont know how we can emphasize this more but the DUs have to define the terms and, at the same time, also comply and enforce the terms of their PSA. This goes not just for DUs but also for ECs [electric cooperatives] because we

have ECs that we feel like they need to also make sure that the terms of their contract are observed or respected,” Dimalanta said. Meralco, Valles said, is aware of this. It has, in fact, submitted its proposed terms of reference (TOR) to the DOE for approval. “We have already submitted a new TOR for this 1800MW CSP to DOE last September 14 and is awaiting its approval. We highlight the urgency of conducting this CSP as soon as possible considering that we need to implement the resulting PSAs by December 2024 for 1200MW and May 2025 for 600MW after ERC approval, based on the original scheduled commercial operation date.” These developments prompted a lawmaker to call on the ERC to approve on time the PSAs between DUs and generation companies to ensure a steady supply of electricity at affordable rates for the benefit of consumers. “We need better accountability in the implementation of the PSAs, which means it is more difficult for generation companies to just walk away from the PSAs. This would help stabilize energy supply and eliminate surprises in terms of pricing,” Senator Sherwin Gatchalian said.

Companies BusinessMirror

Monday, October 16, 2023

Globe unit taps generative AI to fortify tech capability

By Lorenz S. Marasigan

@lorenzmarasigan

lobe Telecom Inc. said on Sunday 917Ventures, its venture builder arm, is developing generative artificial intelligence (AI) to strengthen its tech capabilities.

According to 917Ventures Managing Director Vince Yamat, generative AI “holds the potential to revolutionize how people and organizations create, innovate, and operate, making processes more efficient, personalized, and forward-thinking.” “We are building generative AI

products to strengthen our tech capabilities. For 917Ventures, the goal is to really strengthen our telco-totechco strategy and to build the next generation of great companies in the country by maximizing all of the assets of the Globe Group.” Yamat noted that for the rest of

2023, 917Ventures will continue to scale its digital health product, KonsultaMD. It is also bullish on B2B Software as a Service (SaaS) to enable Filipino micro, small, and mediumsized enterprises (MSMEs). He added that the venture builder is also looking at several climate tech initiatives, including the commercial availability of Gogoro smart scooters by the fourth quarter this year. 917Ventures introduced three new portfolio companies to the market, bringing its total portfolio to 14. Yamat said with its strategic move into generative AI, coupled with its ongoing initiatives in various sectors, 917Ventures “continues to solidify its position as a leader in technological innovation and en-

trepreneurship.” Last September, Globe reported a 27-percent drop in net income to P14.38 billion in the first half from last year’s P19.68 billion mainly due to the one-time gain that the company recorded in 2022. Core net income was also down by 10 percent to P9.95 billion from P11.02 billion, as the 3-percent increase in revenues to P89.52 billion cannot fully offset the 5-percent rise in cost and expenses to P49.03 billion and the three-percent rise in depreciation costs to P22.89 billion. Globe has also revised its outlook for 2023, with service revenue guidance for the year changed to “midto-low single-digit growth” from “mid-single-digit growth,” citing “extended macroeconomic pressures.”

the intensifying Israel-Hamas war, as any expansion of the conflict could impact oil prices. In addition, market participants will keep track of movements in US bond yields given the growing influence of this data point on how the Federal Reserve thinks about policy rates.” He said the main index is seen trading within the 6,150 to 6,420 area, with potential upside bias absent any negative surprises.

“Earlier [last] week, the stock was able to hit past through its 50-day moving average. Investors might want to watch the stock as it breaks its next resistance,” it said. SM Prime’s shares were last traded on Friday to close at P31 apiece. Meanwhile, the broker gave the same rating on the stock of International Container Terminal Services Inc. (ICT) after a wave of bulls swamped in ICT, pushing the stock price to climb by 2 percent. Its technical readings show the stock may fly again anytime soon. “Looking at its chart, ICT seems to be on the verge of breaking its bullish pennant pattern,” it said. ICTSI shares closed last week at P209 apiece. VG Cabuag

STOCK-MARKET OUTLOOK Last week

Share prices slightly went up as analysts said the local market showed resiliency despite geopolitical tensions in the Middle East and the sustained high inflation rate in the United States. The benchmark Philippine Stock Exchange index gained 6.39 points to close at 6,226.34 points. The main index was up in three of the five sessions, despite the ongoing IsraelPalestine conflict, which analysts said is already affecting markets worldwide. Volume of trade, however, was still anemic, as it averaged only P4.1 billion for the five days of trading. Foreign investors, which cornered 40 percent of the trades, were net sellers at P3.31 billion. Other sub-indices ended up mixed. The broader All Shares index gained 5.30 points to close at 3,384.57 points, the Financials index fell 13.53 to 1,811.02, the Industrial index declined 38.50 to 8,844.28, the Holding Firms index was down 29.10 to 5,945.38, the Property index rose 40.88 to 2,638.15, the Services index climbed 25.33 and the Mining and Oil index added 164.18 to 11,005.47. For the week, gainers edged losers 122 to 110 and 24 shares were unchanged. Top gainers were Medco Holdings Inc., Imperial Resources Inc., Central Azucarera de Tarlac Inc., Macay Holdings Inc., Makati Finance Corp., Metro Alliance

Holdings and Equities Corp. A, and Liberty Flour Mills Inc. Top losers, meanwhile, were Lorenzo Shipping Corp., LMG Corp., Filinvest Development Corp., Concrete Aggregates Corp. A, Boulevard Holdings Inc., Wellex Industries Inc. and Philippine Realty and Holdings Corp.

This week

Share prices may go down this week as investors will go on a “defensive mode” as the further escalation of the conflict between Israel and Palestine is raising another round of recessionary fears. “So far, oil prices have surged 4 percent this week on knee-jerk reaction from the news, and has remained rangebound since then,” broker 2TradeAsia said. “Combined with the US reporting disappointing September inflation at 3.7 percent, a 10 basis points higher from consensus, sentiment should remain a touch glum over the next few weeks heading into a potential rate hike from the Fed on October 31-November 1 [policy meeting].” Traders will gauge whether upcoming economic data, including Philippine remittances in August, China’s third quarter GDP, and the Federal Reserve’s Beige Book, can provide some bullish impetus, according to Juan Paolo Colet, managing director at China Bank Capital Corp. “Investors will also keep an eye on

Stock picks

Broker Regina Capital Development Corp. gave a buy on breakout rating on the stock of SM Prime Holdings Inc. as the stock is currently on the upward trend, with shares edging closer to the stock’s 100-day moving average.

MUTUAL FUNDS

October 13, 2023

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 203.32 7.65% 1.38% -2.85% -1.58% -2.5% ATRAM Alpha Opportunity Fund, Inc. -a 1.4589 19.94% 10.79% 1.56% 1.39% 8.53% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8004 7.99% 1.96% -5.18% -3.18% -3.93% Climbs Share Capital Equity Investment Fund Corp. -a 0.6776 3.37% 0.42% -4.34% n.a -2.33% First Metro Consumer Fund, Inc. -a 0.6352 4.05% -2.01% -3.86% n.a -2.07% First Metro Save and Learn Equity Fund, Inc. -a 4.5027 6.69% 2.46% -1.35% -1.24% -3.17% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.67 6.52% 0.88% n.a n.a -4.44% MBG Equity Investment Fund, Inc. -a 85.57 13.22% 0.31% -5.06% n.a 13.7% PAMI Equity Index Fund, Inc. -a 41.5661 8.03% 2.04% -1.84% n.a -3.77% Philam Strategic Growth Fund, Inc. -a 431.33 7.19% 0.88% -1.95% -1.65% -2.95% Philequity Dividend Yield Fund, Inc. -a 1.1745 6.68% 5.5% -0.12% n.a -0.05% Philequity Fund, Inc. -a 32.617 8.79% 3.65% -1.04% 0.34% -2.04% Philequity MSCI Philippine Index Fund, Inc. -a 0.8262 9.47% 2.34% n.a n.a -2.66% Philequity PSE Index Fund, Inc. -a 4.3659 9.19% 2.99% -0.96% 0.28% -2.89% Philippine Stock Index Fund Corp. -a 726.6 8.91% 2.84% -1.02% 0.1% -2.99% Soldivo Strategic Growth Fund, Inc. -a 0.6528 9.05% 2.32% -3.88% n.a -3.16% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.246 8.08% 1.82% -3.07% -1.57% -3.77% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8243 8.52% 2.51% -1.34% n.a -3.24% United Fund, Inc. -a 3.0294 8.45% 2.58% -1.49% -0.8% -2.1% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0229 5.95% n.a n.a n.a -3.15% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,21.0001 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a 0.9997 8.89% 3.33% n.a n.a -4.46% Philippine Stock Index Fund Corp. -a 881.83 8.7% n.a n.a n.a -3.05% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c98.6003 9.62% 3.23% -0.74% n.a -2.49% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.8107 5.04% -9.28% -2.87% -1.68% -4.85% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5309 15.51% -0.63% 4.35% n.a 7.51% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.4534 -1.4% -2.03% -1.69% -2.09% -2.11% ATRAM Philippine Balanced Fund, Inc. -a 2.1307 6.38% 1.59% 0.13% -0.12% 1.21% First Metro Save and Learn Balanced Fund, Inc. -a 2.4516 4.09% 0.93% 0.45% -1.48% -2.15% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1892 2.99% 1.51% n.a n.a -2.22% NCM Mutual Fund of the Phils., Inc. -a 1.8879 5% 1.04% 1.31% 0.44% -2.91% PAMI Horizon Fund, Inc. -a 3.4396 6.08% -0.04% 0.56% -0.49% -0.06% Philam Fund, Inc. -a 15.0884 4.35% -0.68% 0.06% -0.77% -0.35% Solidaritas Fund, Inc. -a 1.9816 5.92% 1.35% 0% 0.55% -0.42% 0.63% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3001 5.51% -1.12% -0.85% -0.89% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8742 6.98% 3.34% -0.32% n.a -0.53% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9192 5.74% -0.42% n.a n.a 0.44% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8185 7.49% -0.18% n.a n.a -2.05% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7988 7.16% -0.04% n.a n.a -2.88% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.0317 -6.77% -1.72% -0.01% -2.22% 1.38% PAMI Asia Balanced Fund, Inc. -b $0.8608 6.91% -6.69% -1.83% -1.58% -3.93% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9626 8.64% -2.28% 2.12% 2.75% 3.03% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $0.966 3.36% -4.9% -0.64% n.a -0.58% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 386.84 3.11% 1.63% 2.53% 2.12% 2.41% ATRAM Corporate Bond Fund, Inc. -a 1.9163 1.31% -0.62% 0.62% 0.16% 2.21% Cocolife Fixed Income Fund, Inc. -a 3.2885 2.12% 0.87% 2.26% 3.78% 2.42% Ekklesia Mutual Fund, Inc. -a 2.2373 3.56% -0.79% 1.12% 1.11% 2.74% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4184 1.26% -0.43% 1.8% 1.16% 1.14% Philam Bond Fund, Inc. -a 4.1923 0.67% -3.27% 2.06% 0.53% 1.08% Philam Managed Income Fund, Inc. -a 1.3566 3.01% 1.12% 2.99% 1.65% 2.79% Philequity Peso Bond Fund, Inc. -a 3.9696 3% 0.1% 2.81% 1.49% 2.61% Soldivo Bond Fund, Inc. -a 1.0392 2.87% 0.05% 3.54% n.a 2.22% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2345 3.8% 0.53% 3.28% 1.87% 2.82% Sun Life Prosperity GS Fund, Inc. -a 1.7316 2.92% -0.25% 2.51% 1.26% 2.12% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $489.58 2.25% 0.66% 1.9% 2.5% 1.99% ALFM Euro Bond Fund, Inc. -a Є211.34 1.6% -0.96% -0.17% 0.75% 0.81% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.014 1.51% -6.56% -1.97% -0.13% 0.46% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0242 0.83% -2.98% -0.49% n.a 2.11% PAMI Global Bond Fund, Inc -b $0.8299 -1.23% -8.65% -4.12% -3.42% -4.09% Philam Dollar Bond Fund, Inc. -a $2.1701 3.29% -4.72% 0.35% 1.36% -0.48% Philequity Dollar Income Fund, Inc. -a $0.0606308 1.44% -0.57% 1.29% 1.61% 1.22% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.5927 0.64% -6.7% -2.05% -0.18% -4.74% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 135.85 2.29% 1.67% 2.53% 1.98% 1.96% First Metro Save and Learn Money Market Fund, Inc. -a 1.1 2.97% 1.7% n.a n.a 2.46% 1.3672 Sun Life Prosperity Peso Starter Fund, Inc. -a 2.6% 1.92% 2.48% 1.94% 2.15% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 103.58 3.69% n.a n.a n.a 3.12% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0879 1.94% 1.19% 1.47% n.a 1.67% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 41.5652 -5.55% n.a n.a n.a -3.18% 9.73% n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3749 15.27% 11.59% Sun Life Prosperity World Income Fund, Inc. -a,1 0.9606 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7564 -1.52% -7.32% n.a n.a -4.64%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2022. 3 - Re-classified into a Index Fund starting December 5, 2019 (formerly an Equity Fund) 4 - Renaming was approved by the SEC last October 14, 2021 (formerly, First Metro Consumer Fund on MSCI Phils. IMI, Inc.). 5 - Launch date is October 4, 2022. 6 - Launch date is August 22, 2023. “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper ’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

pifa. com.ph to see the latest NAVPS/NAVPU.”

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

October 13, 2023

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG MEDCO HLDG MANULIFE PHIL STOCK EXCH SUN LIFE

71,200 906,545,784 302,500 107,098,561 253,425 3,756,663 51,740,680 7,250 1,472,990 166,114 1,237,420 3,268,721 21,899,615.50 200,290 2,940 22,010 42,400 16,470 463,275 1,339,500

-26,700 -4,807,855 -19,080,494 -18,270 2,613,715.00 25,632,598 -37,480 -487,642.50 -1,073,831.50 458,040 1,183,000

INDUSTRIAL ACEN CORP 5.18 5.19 5.25 5.3 5.18 5.18 6,527,300 34,056,072 ALTERNERGY HLDG 0.8 0.81 0.83 0.83 0.8 0.81 908,000 728,900 ABOITIZ POWER 37 37.05 36.9 37.1 36.35 37 2,915,200 107,726,470 1.28 1.29 1.29 1.3 1.28 1.29 166,000 214,420 RASLAG BASIC ENERGY 0.201 0.205 0.2 0.201 0.199 0.201 890,000 178,030 18.5 18.62 18.72 18.8 18.42 18.62 84,300 1,567,210 FIRST GEN FIRST PHIL HLDG 60.8 62 62 62 60.8 60.8 900 55,609 MERALCO 375 376.2 374 377 372 376.2 153,900 57,806,488 MANILA WATER 18.1 18.12 18.2 18.2 18 18.1 120,900 2,185,830 3.4 3.44 3.45 3.45 3.38 3.44 318,000 1,081,050 PETRON 5.22 6 6 6 6 6 1,000 6,000 PHX PETROLEUM REPOWER ENERGY 5.68 5.7 5.68 5.7 5.51 5.7 108,800 617,136 SYNERGY GRID 7.95 8.03 8.02 8.1 7.95 7.95 1,404,900 11,211,804 SHELL PILIPINAS 13.58 13.6 13.66 13.66 13.56 13.58 33,300 452,928 7.94 8 7.98 8 7.94 8 36,900 294,351 SPC POWER AGRINURTURE 2.65 2.7 2.78 2.8 2.64 2.7 907,000 2,448,040 1.95 2.02 2.02 2.02 2.02 2.02 2,000 4,040 AXELUM CNTRL AZUCARERA 11.02 11.88 11 12 11 11.88 221,900 2,539,892 CENTURY FOOD 29.35 29.45 29 29.5 28.95 29.45 467,800 13,736,465 7.33 7.65 7.31 7.33 7.31 7.33 200 1,464 DEL MONTE DNL INDUS 6.39 6.4 6.43 6.45 6.35 6.4 872,300 5,579,961 20.9 20.95 20.95 21.05 20.8 20.9 246,100 5,148,560 EMPERADOR SMC FOODANDBEV 51 51.5 51.3 51.5 50.55 51.5 35,520 1,819,204.50 FIGARO COFFEE 0.73 0.74 0.76 0.8 0.74 0.74 90,838,000 69,535,550 ALLIANCE SELECT 0.51 0.52 0.51 0.51 0.51 0.51 2,000 1,020 1.11 1.12 1.16 1.18 1.11 1.11 24,052,000 27,386,060 FRUITAS HLDG 166 169.8 164 170 163 170 87,240 14,592,233 GINEBRA 220.6 222.4 222 224.8 220.6 220.6 306,970 67,985,174 JOLLIBEE KEEPERS HLDG 1.43 1.46 1.47 1.47 1.44 1.46 989,000 1,426,600 LIBERTY FLOUR 13.12 14.98 14 14.98 14 14.98 1,000 14,882 8 8.6 6.97 8.02 6.97 8 44,400 347,749 MACAY HLDG MAXS GROUP 4.21 4.3 4.12 4.35 4.12 4.3 598,000 2,563,650 8.55 8.59 8.56 8.61 8.52 8.59 3,714,200 31,842,202 MONDE NISSIN SHAKEYS PIZZA 9.31 9.5 9.55 9.55 9.55 9.55 1,500 14,325 ROXAS AND CO 0.53 0.54 0.53 0.53 0.53 0.53 1,000 530 RFM CORP 3 3.06 3.1 3.1 2.98 3.05 69,000 208,500 0.65 0.73 0.72 0.73 0.72 0.73 24,000 17,340 ROXAS HLDG SWIFT FOODS 0.052 0.055 0.059 0.059 0.051 0.055 1,500,000 78,630 UNIV ROBINA 114.7 115 115 115.5 114.6 114.7 740,620 85,035,358 VITARICH 0.53 0.55 0.53 0.53 0.53 0.53 76,000 40,280 VICTORIAS 3.42 3.77 3.6 3.6 3.6 3.6 15,000 54,000 39.75 49.9 49.95 49.95 49.95 49.95 200 9,990 CONCRETE B CEMEX HLDG 0.92 0.95 0.95 0.96 0.92 0.95 36,000 34,010 0.82 0.84 0.84 0.87 0.81 0.85 4,149,000 3,494,280 EC VULCAN CORP EEI CORP 4.76 4.9 4.76 4.78 4.72 4.78 156,000 739,120 MEGAWIDE 3.18 3.2 3.2 3.2 3.16 3.2 102,000 325,110 20 20.35 20 20 20 20 8,000 160,000 PHINMA CROWN ASIA 1.56 1.58 1.54 1.58 1.51 1.58 149,000 232,970 5.4 5.8 5.81 5.99 5.7 5.98 2,100 12,488 MABUHAY VINYL PRYCE CORP 5.19 5.2 5.19 5.19 5.19 5.19 80,400 417,276 CONCEPCION 14.78 15.32 15.3 15.3 15.3 15.3 1,600 24,480 GREENERGY 0.425 0.43 0.42 0.435 0.415 0.425 19,160,000 8,227,450 3.73 3.75 3.71 3.75 3.71 3.73 63,000 235,230 INTEGRATED MICR IONICS 1.3 1.32 1.29 1.33 1.28 1.32 2,996,000 3,918,680 4.79 4.94 4.78 4.93 4.78 4.93 7,000 33,760 PANASONIC SFA SEMICON 2.17 2.19 2.2 2.21 2.14 2.17 454,000 991,900 CIRTEK HLDG 1.98 1.99 1.96 1.99 1.95 1.99 169,000 334,420

-8,001,641 340,375 20,000 -127,882 -7,904 13,943,614 721,960 -30,850 5,700 -1,936,283.00 -397,840.00 22,520 -1,683,545 -451,382 -2,605,655.00 -497,513.50 629,990 280,330 5,935,917 -20,945,150 413,270 -1,416,150 -6,010,192 -90,700 -25,493,156 -950 24,900 6,160 -407,550 -1,119,560 -433,250 -29,400

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

-657,240 -10,403,185 -7,056,445 -72,556 6,594 -222,580 -19,000,262 -5,340,490 -7,902,495 -4,400 -2,756,212.00 -58,860,620 111,573 -

HOLDING & FRIMS

44.3 136.6 7.25 107.7 30.5 9.3 53.85 13.9 18.7 55 23.15 79.05 64.75 1.44 2.89 2.73 0.1 1,020 174.5 2,600

1.13 615 49.7 11.8 10.98 0.38 4.61 10.48 569 3.59 38.35 4.3 9 2.88 2.7 0.94 825 103.5 113 0.077

44.5 136.7 7.5 108 30.6 9.35 53.9 17.84 18.78 55.6 23.2 79.9 64.95 1.45 2.94 2.83 1,098 175 2,650

1.14 617 49.95 11.84 11 0.4 4.67 10.5 570 3.88 38.45 4.5 9.01 2.9 3.06 0.98 827.5 104.9 120.5 0.085

44.5 136 7.65 107.8 30.6 9.39 53.8 14.5 18.74 55.6 23 78.8 65.1 1.48 2.94 2.78 0.11 1,098 174.5 2,600

1.16 619 49.4 11.8 11 0.38 4.72 10.52 569.5 3.7 38.55 4.4 9.01 2.91 3.05 0.93 830.5 103.8 112.1 0.08

44.5 137.4 7.65 108.9 30.6 9.39 54.3 14.5 18.8 55.6 23.2 80 65.7 1.48 2.94 2.78 0.12 1,098 176.9 2,650

1.16 620.5 50 11.88 11 0.38 4.72 10.58 575 3.87 39 4.5 9.08 2.93 3.05 0.98 831 104.9 112.1 0.08

44.5 136 7.5 107.5 30.45 9.02 53.55 14.5 18.7 55.1 23 78.2 64.65 1.41 2.94 2.73 0.11 1,098 174.5 2,600

1.13 615 49.4 11.72 10.98 0.38 4.6 10.44 565 3.7 38.3 4.4 8.99 2.88 3.05 0.93 821.5 103.5 112 0.08

44.5 136.6 7.5 107.7 30.6 9.3 53.9 14.5 18.78 55.1 23.2 79.05 64.95 1.44 2.94 2.73 0.12 1,098 175 2,600

1.14 615 49.7 11.8 10.98 0.38 4.61 10.48 570 3.87 38.35 4.5 9 2.88 3.05 0.98 825 103.5 112 0.08

1,600 6,627,320 40,000 992,830 8,300 403,600 958,690 500 78,600 3,010 53,800 41,310 337,110 140,000 1,000 8,000 360,000 15 2,630 515

11,182,000 106,810 311,900 346,100 13,800 50,000 123,000 2,835,000 152,130 24,000 1,610,500 10,000 1,280,600 429,000 100,000 32,000 706,550 21,260 100 200,000

12,756,640 65,906,160 15,490,560 4,095,288 151,794 19,000 568,550 29,749,124 86,693,255 89,480 61,928,665 44,600 11,529,731 1,242,410 305,000 31,030 583,902,280 2,205,978 11,207 16,000

PROPERTY ARTHALAND CORP 0.45 0.48 0.47 0.48 0.47 0.48 20,000 9,500 ANCHOR LAND 4.75 5.57 5.58 5.58 5.58 5.58 100 558 AYALA LAND 29.3 29.35 29.3 29.35 29.05 29.3 4,076,000 119,104,215 1.8 1.83 1.82 1.84 1.79 1.83 336,000 610,030 AYALA LAND LOG 8.81 9.46 8.79 9.46 8.79 9.46 700 6,220 ALTUS PROP ARANETA PROP 1.05 1.08 1.1 1.1 1.04 1.05 865,000 920,850 AREIT RT 32.7 32.8 32.5 33 32.35 32.7 79,800 2,602,920 A BROWN 0.68 0.7 0.7 0.7 0.69 0.69 61,000 42,210 CITYLAND DEVT 0.72 0.75 0.74 0.74 0.72 0.72 10,000 7,220 0.071 0.075 0.075 0.075 0.074 0.075 70,000 5,210 CROWN EQUITIES CEB LANDMASTERS 2.55 2.57 2.58 2.58 2.55 2.55 111,000 283,160 CENTURY PROP 0.32 0.325 0.32 0.325 0.315 0.325 380,000 120,650 CITICORE RT 2.54 2.55 2.55 2.56 2.53 2.54 1,532,000 3,886,260 DOUBLEDRAGON 7.12 7.14 7.16 7.16 7.1 7.12 7,200 51,311 1.31 1.32 1.3 1.31 1.29 1.31 963,000 1,252,610 DDMP RT 6.34 6.35 6.49 6.49 6.35 6.35 31,800 204,052 DM WENCESLAO 0.145 0.147 0.145 0.146 0.141 0.145 8,990,000 1,282,180 EMPIRE EAST EVER GOTESCO 0.28 0.295 0.29 0.295 0.29 0.295 300,000 88,200 FILINVEST RT 3 3.04 3.02 3.04 3 3 1,540,000 4,628,440 0.6 0.61 0.62 0.62 0.6 0.61 1,667,000 1,018,580 FILINVEST LAND 0.8 0.82 0.8 0.8 0.79 0.8 442,000 353,560 GLOBAL ESTATE GOLDEN MV 815 818 810 810 810 810 220 178,200 PHIL INFRADEV 0.52 0.54 0.51 0.54 0.5 0.52 735,000 380,010 CITY AND LAND 0.78 0.81 0.78 0.78 0.77 0.77 65,000 50,560 MEGAWORLD 2.06 2.07 2.06 2.08 2.05 2.06 7,482,000 15,471,390 0.19 0.195 0.195 0.195 0.191 0.195 270,000 51,970 MRC ALLIED MREIT RT 12.2 12.22 12.28 12.28 12.22 12.22 134,400 1,645,134 1.53 1.54 1.55 1.55 1.53 1.54 163,000 251,080 PREMIERE RT PRIMEX CORP 2.78 3 2.78 3 2.78 3 17,000 47,480 RL COMM RT 4.85 4.89 4.84 4.9 4.82 4.89 2,455,000 11,972,270 15.06 15.18 15.02 15.18 15.02 15.18 1,896,400 28,721,690 ROBINSONS LAND 3.5 3.57 3.5 3.5 3.5 3.5 4,000 14,000 SHANG PROP STA LUCIA LAND 3.02 3.2 3.2 3.2 3.2 3.2 600,000 1,920,000 SM PRIME HLDG 31 31.2 31.2 31.3 31 31 4,151,000 129,153,020 VISTA LAND 1.67 1.73 1.65 1.73 1.64 1.73 592,000 1,006,790 VISTAREIT RT 1.66 1.69 1.69 1.69 1.65 1.69 161,000 266,180 SERVICES ABS CBN 4.17 4.18 4.18 4.2 4.17 4.19 233,000 975,970 GMA NETWORK 8.25 8.26 8.25 8.27 8.24 8.25 457,000 3,770,617 MLA BRDCASTING 5.91 7.2 7.19 7.2 7.19 7.2 1,700 12,229 1,794 1,800 1,795 1,803 1,789 1,794 13,180 23,663,975 GLOBE TELECOM 1,217 1,220 1,220 1,226 1,217 1,217 26,955 32,857,445 PLDT 0.017 0.018 0.018 0.018 0.017 0.018 83,000,000 1,485,400 APOLLO GLOBAL CONVERGE 9.84 9.85 9.91 9.92 9.66 9.85 5,209,300 50,867,820 DFNN INC 3.07 3.15 3.09 3.09 3.07 3.07 150,000 461,760 DITO CME HLDG 3.24 3.25 3.24 3.27 3.11 3.25 512,783,000 1,601,009,370 0.59 0.77 0.78 0.78 0.78 0.78 10,000 7,800 IMPERIAL 1.41 1.42 1.4 1.42 1.37 1.42 703,000 979,410 NOW CORP TRANSPACIFIC BR 0.151 0.159 0.151 0.151 0.151 0.151 180,000 27,180 ASIAN TERMINALS 14.72 15.48 15.46 15.46 15.46 15.46 1,000 15,460 CHELSEA 1.2 1.27 1.19 1.27 1.19 1.27 767,000 952,990 33.5 33.7 33.85 33.85 33.5 33.7 66,300 2,230,765 CEBU AIR 209 209.2 203.6 210.8 203 209 1,460,830 304,288,150 INTL CONTAINER 16.94 19.22 16.94 19.24 16.94 19.24 200 3,618 LBC EXPRESS MACROASIA 4.01 4.05 4 4.05 4 4.05 169,000 681,810 METROALLIANCE A 0.5 0.6 0.54 0.61 0.54 0.61 11,000 6,130 5.23 5.28 5.2 5.29 5.2 5.23 7,500 39,278 PAL HLDG 0.74 0.8 0.8 0.8 0.8 0.8 2,000 1,600 HARBOR STAR ACESITE HOTEL 1.78 1.86 1.81 1.81 1.8 1.8 305,000 549,050 BOULEVARD HLDG 0.054 0.055 0.056 0.059 0.053 0.054 14,090,000 775,240 CENTRO ESCOLAR 8.51 8.65 8.8 8.93 8.65 8.65 3,900 34,043 FAR EASTERN U 561 580 580 580 580 580 10 5,800 6.51 7.47 7.47 7.47 7.47 7.47 200 1,494 IPEOPLE STI HLDG 0.4 0.405 0.395 0.41 0.39 0.405 4,870,000 1,905,050 1.24 1.25 1.24 1.24 1.24 1.24 136,000 168,640 BELLE CORP BLOOMBERRY 10.58 10.7 10.62 10.74 10.58 10.58 7,187,500 76,545,376 PACIFIC ONLINE 3.71 3.78 3.63 3.79 3.62 3.78 244,000 902,080 0.8 0.81 0.78 0.83 0.77 0.81 6,645,000 5,346,710 PH RESORTS GRP 0.57 0.58 0.59 0.59 0.57 0.58 2,903,000 1,685,080 PREMIUM LEISURE 7.16 7.19 7.24 7.32 7.18 7.19 3,111,400 22,540,981 DIGIPLUS PHILWEB 1.9 1.92 1.9 1.93 1.9 1.9 209,000 397,130 ALLDAY 0.182 0.183 0.182 0.184 0.182 0.182 890,000 162,290 ALLHOME 1.74 1.77 1.78 1.78 1.73 1.74 3,617,000 6,345,010 1.16 1.2 1.19 1.2 1.19 1.2 336,000 400,050 METRO RETAIL PUREGOLD 29.75 29.8 29.3 29.8 29.2 29.75 487,300 14,446,765 ROBINSONS RTL 45.9 46 46.85 46.85 45.8 46 63,000 2,901,055 PHIL SEVEN CORP 76.5 80 80 80 79.9 80 51,680 4,134,395 SSI GROUP 2.91 2.92 2.91 2.95 2.91 2.92 484,000 1,414,300 1.66 1.75 1.74 1.75 1.74 1.75 75,000 130,530 UPSON INTL CORP 21.75 21.9 21.55 21.9 21.4 21.9 2,011,600 43,563,360 WILCON DEPOT 0.231 0.237 0.242 0.242 0.231 0.231 80,000 18,590 APC GROUP MEDILINES 0.415 0.43 0.42 0.42 0.41 0.415 170,000 71,100 PRMIERE HORIZON 0.2 0.204 0.199 0.2 0.198 0.2 740,000 147,330 3.81 3.98 3.81 3.98 3.8 3.98 12,000 47,040 SBS PHIL CORP MINING & OIL ATOK 4.96 5 5 5 4.96 4.96 17,700 88,035 APEX MINING 2.54 2.55 2.48 2.56 2.47 2.55 4,508,000 11,426,740 3.22 3.27 3.27 3.27 3.27 3.27 8,000 26,160 ATLAS MINING 4 4.26 4.25 4.26 4.25 4.26 6,000 25,510 BENGUET A FERRONICKEL 2.77 2.78 2.79 2.79 2.73 2.78 635,000 1,758,290 GEOGRACE 0.04 0.042 0.041 0.041 0.041 0.041 10,300,000 422,300 LEPANTO A 0.086 0.089 0.086 0.09 0.086 0.09 660,000 59,160 LEPANTO B 0.087 0.09 0.087 0.087 0.087 0.087 30,000 2,610 0.0045 0.0046 0.0046 0.0046 0.0046 0.0046 137,000,000 630,200 MANILA MINING A MARCVENTURES 1 1.01 1.01 1.01 1 1 583,000 583,200 NIHAO 0.55 0.59 0.58 0.58 0.55 0.55 21,000 12,020 NICKEL ASIA 5.88 5.9 5.94 5.94 5.84 5.9 599,800 3,530,557 ORNTL PENINSULA 0.68 0.7 0.69 0.71 0.68 0.7 99,000 68,760 2.85 2.86 2.85 2.88 2.85 2.85 2,998,000 8,548,550 PX MINING 36 36.05 36.05 36.15 35.85 36 2,139,300 77,029,275 SEMIRARA MINING 6 6.09 6 6.09 6 6.09 6,100 36,609 ENEX ENERGY ORNTL PETROL A 0.0085 0.0089 0.0086 0.0088 0.0086 0.0088 4,000,000 34,700 PHILODRILL 0.0084 0.0086 0.0084 0.0084 0.0084 0.0084 31,000,000 260,400 3.28 3.42 3.31 3.44 3.28 3.42 96,000 320,700 PXP ENERGY PREFFERED HOUSE PREF B 94.2 97.4 95 95 95 95 100 9,500 ACEN PREF B 1,033 1,036 1,044 1,044 1,035 1,036 6,685 6,933,660 AC PREF AR 2,458 2,468 2,458 2,460 2,458 2,460 40 98,380 498.4 500 499.6 500 499.6 500 770 384,700 AC PREF B1 AC PREF B2R 482 490 482 482 482 482 14,900 7,181,800 BRN PREF A 97 99 99 99 99 99 100 9,900 CEB PREF 33.2 33.9 33.3 33.8 33.2 33.2 13,200 438,615 DD PREF 92.5 93.4 93 93.4 92.5 93.4 350 32,625 GTCAP PREF B 910 968.5 915 916.5 910 910 2,060 1,882,920 930.5 969.5 930.5 930.5 930.5 930.5 60 55,830 JFC PREF A JFC PREF B 920 925 920 920 920 920 350 322,000 MWIDE PREF 5 100.6 101 101 101 101 101 2,840 286,840 PNX PREF 4 252.8 270.8 265 265 252.8 252.8 1,060 272,604 PCOR PREF 3A 970 990 990 990 990 990 3,000 2,970,000 920 1,010 998 998 998 998 10 9,980 PCOR PREF 4B PCOR PREF 4C 996 999 997 1,000 997 1,000 155 154,715 SMC PREF 2F 72.6 72.9 73.05 73.05 72.9 72.9 1,700 124,140 SMC PREF 2J 68.5 69.4 68.5 68.5 68.5 68.5 230 15,755 SMC PREF 2K 66.9 69 67.35 68.75 66.9 66.9 13,400 898,509 48.5 49 49 49 49 49 200 9,800 TECH PREF B2D

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

3.73 7.42

3.9 3.88 3.88 3.88 3.88 1,000 8 -

0.35

0.37

27,081,035 10,800 -49,010 -162,670 -1,420 5,200 -46,990 -3,112,680 29,590 5,139,980 -297,502 -7,700 -2,039,810 2,783,004 -8,129,640 -23,410 36,300 1,660,375 -2,415,655 -21,345,427 6,180 -898,760 7,800 6,900.00 -837,865 168,313,020 2,142 -7,893 -633,350 -5,079,646.00 11,220 369,800 52,240 512,267 -1,303,890 5,474,840 -1,202,325 -24,004 -832,690 10 32,472,690 597,530 26,160 31,840 -328,000 1,740 2,020 538,664 14,300 11,452,300.00 -342,140 9,120 -

3,880 -

SMALL, MEDIUM & EMERGING

0.445 0.455 0.435 0.435 110,000 49,250 0.79 0.81 0.78 0.8 204,000 160,980 0.9 0.9 0.9 0.9 200,000 180,000 0.81 0.81 0.75 0.78 45,000 33,910 0.068 0.068 0.068 0.068 110,000 7,480 1.2 1.2 1.18 1.18 314,000 372,860 23,800 0.231 0.231 0.231 0.231 10,000 2,310 -

EXHANGE TRADE FUNDS

98.7 98.85 98.5 98.65 29,690 2,930,109 69,980.50

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS LFM PROP MERRYMART XURPAS

FIRST METRO ETF

0.44 0.8 0.87 0.76 0.067 1.18 0.232 98.6

0.45 0.81 0.9 0.78 0.068 1.19 0.24 98.65

www.news.businessmirror@gmail.com

Banking&Finance

BIR innovates by issuing WG via email, e-signature

HE Bureau of Internal Revenue (BIR) announced over the weekend it has adopted last September 14 the use of e-mail and e-signature as official mode of delivering warrants of garnishments (WG) to delinquent taxpayers as part of its modernization efforts and boosting its collections. The BIR noted that e-mail and e-signature as a mode of WG is an “innovation” in tax practice that can result in “speedy, efficient and more effective” way of determining and collecting the assets of delinquent taxpayers. “Traditionally, WGs against the deposits of delinquent taxpayers are issued and served physically or through constructive/substituted means by BIR collection personnel to the concerned depositary banks,” read a statement the BIR issued over the weekend. “Over the years, BIR collection personnel have encountered various challenges in carrying out this crucial function of tax administration,” the BIR added.

Under Revenue Regulation 112023, the BIR outlined the guidelines for the implementation of the service thru e-mail of the electronicallysigned WGs. The BIR summed it up in seven steps. “The introduction of service of [WG] through e-mail and the use of e-signatures have become imperative to leverage the benefits of modern technology in making the collection of delinquent accounts easier for our Revenue Officers,” BIR Commissioner Romeo D. Lumagui Jr. was quoted in the statement as saying. “This will translate to a collection of more revenues to fund the government’s various priority projects,” Lumagui added. This year the BIR targets to collect around P2.639 trillion in revenues. The BIR said its latest revenue regulation is pursuant to the National Internal Revenue Code of 1997 as well as the Electronic Commerce Act of 2000. It is also in pursuant to the 2019 amendments to the 1997 Rules of Civil Procedures.

ESG for newly public companies

Editor: Dennis D. Estopace • Monday, October 16, 2023

Public-sector loans approved by MB surge 1,000% in Q3

By Cai U. Ordinario

@caiordinario

HE public-sector loans approved by the Monetary Board (MB) surged over 1,000 percent in the third quarter compared to the same period last year.

The Bangko Sentral ng Pilipinas (BSP) said the MB approved $2.7 billion of public sector foreign borrowings in the third quarter of 2023. This was a growth of 1,416 from the $178.1 million-worth public sector loans approved in July to September in 2022. “These borrowings will fund the National Government’s (NG) pro-

gram on economic recovery, environmental protection and climate resilience, as well as projects for the transport and agricultural sectors,” the BSP said. In the third quarter, the central bank said all the borrowings by the Republic of the Philippines (ROP) consisted of four project loans aggregating to $1.95 billion and one

program loan amounting to $0.75 billion. The public sector borrowings in July to September represented the lowest amount approved by the MB this year. Compared to the second quarter’s $2.73 billion approved public-sector borrowings, the loans approved in the third quarter was 1.099 percent lower. In the first quarter of the year, the MB approved a total of $5.56 billion. The first quarter approved foreign borrowings in the first quarter was the highest since the $6.84 billion approved in the second quarter of 2020. With the latest approval, monetary authorities have approved a total of $10.99 billion worth of public sector loans in the past three quarters of the year. This was a 29.019

percent growth from the $8.5181 billion approved in 2022. The central bank cited the 1987 Constitution (Section 20, Article VII) requires prior MB approval for all foreign loans to be contracted or guaranteed by ROP. Similarly, Letter of Instruction 158 issued by President Ferdinand E. Marcos on January 21, 1974, also requires all foreign borrowing proposals by the NG, government agencies and government financial institutions to be submitted for approval-in-principle by the MB before commencement of actual negotiations. A statement issued by the BSP read that the central bank “promotes the judicious use of resources and ensures that external debt requirements are at manageable levels to support external debt sustainability.”

Jasper Emmanuel Y. Arcalas

Perspectives HE environmental, social and governance (ESG) framework has become a business imperative for newly public companies—impacting financial resilience, growth and investor confidence. Evolving stakeholder expectations and sustainability-related reporting regulations are now critical to a company’s successful initial public offering (IPO) and overall performance. Capital markets readiness efforts have become inextricably connected with ESG principles. As investors realign their portfolios to support a sustainable future, companies preparing for IPOs must embed a solid ESG strategy into their capital markets readiness plan. The following key considerations can help lay the foundation: Building a strategic commitment to sustainability is crucial for companies preparing to flourish in the public markets. IPO-ready companies that meet ESG criteria can leverage new sources of capital, including avenues for financing debt and lowering corporate financing costs. While integrating ESG metrics and data into disclosures can enhance insights and decision-making, it is also critical to conform to the IPO timeframe for ESG-related disclosures. Upgrading technology and data capabilities can help drive investor-grade ESG reporting while telling a sustainable equity story. n Incorporating ESG into business strategy. Developing an effective ESG strategy begins with three key elements: mapping the material ESG topics that are most impactful to the business; the vision of the corporate ESG profile; and, operating model enhancements to address material sustainability topics. n Establishing robust corporate governance. Newly-public companies must have strong mechanisms for corporate oversight to measure and assess their progress on corporate ESG commitments and key performance indicators (KPIs), such as board diversity and decarbonization targets. Transparency with investors about their progress can bolster trust and provide a competitive edge. n Embedding ESG risks in the enterprise risk management function. Private companies on the IPO path must develop a comprehensive risk management function that has the expertise and experience to identify, assess and measure sustainability-related risks. An effective risk framework provides transparent, quantifiable data to key stakeholders on the company’s ability to monitor and mitigate risks while ensuring accountability across the board. n Preparing investor-grade ESG disclosures. Evolving ESG reporting requirements mean companies must stay up to date on global regulatory reporting developments to stay compliant. The SEC has proposed rules for climate and cybersecurity-related disclosures for public companies, which

BusinessMirror

are expected to be finalized in the near future. Today, a trend has emerged whereby ESG-related themes dominate various sections of an initial registration statement, including the “Risk Factors” section, particularly with over a third of Form S-1s filed with the SEC in 2022 (on a sample basis) referencing climate-related risks. In the Philippines, ESG has evolved from a mere trend to a business imperative, influencing not only financial resilience but also growth and investor confidence. This shift in focus underscores the need for Filipino companies preparing for an IPO to integrate a robust ESG strategy into their capital markets readiness plan. KPMG in the Philippines Advisory Partner and ESG Lead Kristine I. Aguirre said: “by adhering to ESG criteria, IPO-ready firms can open doors to alternative sources of capital, which may include favorable financing options and reduced corporate financing costs.” “The Philippines, with its rich natural resources and diverse cultural fabric, can effectively leverage ESG principles to differentiate itself and appeal to investors who are increasingly drawn to companies that prioritize ethical practices,” Aguirre added. Furthermore, integrating ESG metrics into disclosures offers dual benefits for these companies. Not only does it enhance decision-making processes internally, but it also communicates transparency and responsibility to potential investors. In a nation that faces environmental challenges such as deforestation and pollution, demonstrating a commitment to ESG principles can help companies gain public trust and present themselves as stewards of the environment and society. Building a strategic commitment to sustainability is crucial for companies preparing to flourish in the public markets. While integrating ESG metrics and data into disclosures can enhance insights and decision-making, it is also critical to conform to the IPO timeframe for ESG-related disclosures. Upgrading technology and data capabilities can help drive investor-grade ESG reporting while telling a sustainable equity story. The full excerpt here: https://advisory.kpmg. us/articles/2023/esg-newly-public-companies. html?utm_content=d852d4f3-b38f-4dce-8f136ee18f91980a. © 2023 KPMG Int l Ltd. is a private English company limited by guarantee. R.G. Manabat & Co., a Philippine partnership, is a member firm of a global organization of independent member firms affiliated with KPMG Int l Ltd. All rights reserved. Email ph-kpmgmla@kpmg.com or visit www. home.kpmg/ph. This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent the BusinessMirror, KPMG International or KPMG in the Philippines.

LBP: Capital adequate even with investment in MIC By Jasper Emmanuel Y. Arcalas @jearcalas

HE Land Bank of the Philippines (LBP) said its capitalization as of the first half remains more than adequate to cover its financial risks despite contributing to the country’s Maharlika Investment Corp. (MIC). The state-run lender said its Capital Adequacy Ratio (CAR) at endJune stood at 16.61 percent, “well above” the 10-percent minimum requirement of the Bangko Sentral ng Pilipinas. The LBP added its Common Equity Tier 1 (CET 1) ratio is at 15.73 percent, “compliant” with the BSP’s 10.25-percent CET 1 requirement.

“The BSP tracks the Capital Adequacy Ratio (CAR) and Common Equity Tier 1 (CET 1) ratio of banks to ensure that they are capable of absorbing a reasonable amount of financial risks and still comply with statutory capital levels,” it said in a statement on Sunday. “Both capital ratios are essential as it indicates a bank’s financial strength and how well it can weather financial challenges. A higher CAR means a bank is more financially stable and secure,” it added. The LBP pointed out that it will still be able to hit its CAR requirement even with its contribution to the MIC. “Even with the bank’s P50-billion seed capital to the MIC as mandated

Money laundering case filed vs Silverlion Livestock By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

AVAO CITY—A Zamboanga City-based investment firm is facing a money-laundering complaint for allegedly taking investments without license from the Securities and Exchange Commission (SEC). The SEC and the Anti-Money Laundering Council (AMLC) filed on October 5 a joint complaint against Silverlion Livestock Trading Corp. According to the regulators, the firm was found to be illegally soliciting investments from the public in violation of Section 4(b) of Republic Act (RA) 9160, or the Anti-Money Laundering Act (AMLA), as amended. Section 4(b) of the AMLA provides that money laundering is committed by any person who, knowing that any monetary instrument or property represents, involves, or relates to the proceeds of any unlawful activity, converts, transfers, disposes of, moves, acquires, possesses or uses said monetary instrument or property. The SEC said its deputized AMLC Financial Investigators filed the cases with the AMLA. The SEC said it also “implicated” Silverlion CEO Ryan Cagod Ladoing, President Renan Lara Ladoing, Vice President Michael Villalobos Berja and Master Bagman John Paul Lopez, as well as Rose Marie Alvarez Guzman and Nena Ewayan Algoy, “who were found to be participating in the promotion of Silverlion’s investment solicitation activities.” In the complaint, the SEC said that Silverlion was able to meet the four elements of money laundering, namely, “the existence of unlawful activity, proceeds of the unlawful activity, knowledge and possession of such proceeds.” The SEC said that Silverlion engaged in unlawful activity when it offered investments to the public without the necessary licenses from the Commission, in violation of RA 8799, or the Securities Regulation Code (SRC). Silverlion was found to have offered to the public P50,000 to P100,000 worth of investments with the promise of up to

2.3 percent earnings daily, or a total of 35 percent returns within 15 days, a statement issued by the SEC read. The group also offered a special promo involving the car of choice of any investor who locks in P400,000 worth of investment for 60 days, the statement further read. The SEC said that the proceeds of the activity amounted to P17.89 million, representing cash seized during the implementation of a search warrant in Silverlion’s offices in Zamboanga City by operatives of the Philippine National Police Anti-Cybercrime Group, together with the SEC Zamboanga Extension Office last year. The SEC said the company “cannot feign that they lack knowledge of the unlawful activity given the several cases filed against it for the same offenses before the Regional Trial Court of Zamboanga City, according to the complaint.” “Consistent with the overall scheme of Ryan and Renan Ladoing, and their cohorts, including the other respondents herein, in attaining their end goal of profiting from the illegal acts constituting violations of the SRC, and the seized cash of P17,888,925 they possessed either actual and/or constructive, there is a clear and convincing evidence that respondents committed money laundering under Section 4 (b) – possession of proceeds - of the AMLA,” the complaint read. Those found guilty of money laundering shall be sentenced to imprisonment from seven to 14 years, and a fine of not less than P3 million, but not more than twice the value of the monetary instrument or property involved in the offense. The SEC said the filing of the complaint “follows the revocation of Silverlion’s corporate registration last January for its unregistered investment solicitation activities and the earlier issuance of a cease and desist order against the company and its officers, directors and agents.” Separate criminal cases for violations of the SRC are also pending with Branch 12 of the Regional Trial Court of Zamboanga City, as a result of the inquest complaint filed by SEC before the Department of Justice in November 2022.

by Republic Act 11954, otherwise known as the Maharlika Investment Fund Act of 2023, the bank will meet its CAR requirement,” the lender said. The LBP said its total assets, as of end-June, rose by P200 billion to P3 trillion from P2.8 trillion last year. Meanwhile, the bank’s net income hit P20.9 billion, exceeding its first half target by P3.3 billion. The LBP added it has also booked double-digit capital growth at 14.4 percent to P236.3 billion from P206.5 billion in 2022. The lender emphasized that its outstanding loans to agriculture and rural development has reached P713.8 billion, about 69 percent of its total loan portfolio of P1.04 trillion.

The LBP noted that its outstanding loans to agriculture and rural development are nearly three times the 25-percent required allocation for local banks for agriculture, fisheries and rural development financing. The lender issued the statement a few days after President Ferdinand R. Marcos Jr. issued Executive Order (EO) 43 that adjusted the LBP’s dividend rate. The EO reduced the LBP’s dividends for 2022 to the national government to zero percent from 50 percent of its annual net income. “The adjusted dividend rate set forth in Section 1 of this Order is applicable only to the [LBP] for CY 2022,” the EO read.

SECB, ATFSG issue report to advance climate initiatives

HE Security Bank Corp. (PSE:SECB), a member of the Asia Transition Finance (ATF) Study Group (ATFSG), announced last week the release of the ATF Annual Report 2023, which aims to help Asian economies move toward net-zero. The ATFSG, a private-led initiative whose core participants are banks with operations in Asia, has published a report to help Asian economies achieve a just and orderly transition toward a more sustainable future. SECB has been a core member of the ATFSG since its inception in 2021. “We believe that sustainability and climate action are not only our responsibility, but also our opportunity to play our part in building just, resilient and prosperous communities, while delivering value to our stakeholders,” SECB Sustainability Head Nicole B. Lizares was quoted in a statement as saying. Lizares added the lender’s support to release the ATF report “reflects our commitment to being a bank that cares for the planet and the people.” The ATFSG was established under the Asia Energy Transition Initiative (AETI) “as a private sector initiative with a focus to promote transition finance in Asian countries.” In 2021, the Government of Japan announced the establishment of the AETI, “which includes a variety of support for realizing energy transitions in Asia.” SECB added that the ATFSG was set up in recognition of the important role that transition finance (TF) will play in helping Asian economies move toward net-zero emissions and the challenges they will face. Its goal is to create practical recommendations to supplement existing frameworks, including global standards and taxonomies, when financial in-

stitutions (FIs) consider and assess TF cases, as well as to understand challenges and explore potential enablers to TF. In 2022, the ATFSG published the ATF Guidelines to provide TF practitioners with practical guides to assess transition projects and the ATFSG Activity Report to share the challenges and suggested support measures to accelerate TF in Asia. These outcomes were introduced at Asian Green Growth Partnership Ministerial Meetings (AGGPM) in September 2022. This year, the ATF Annual Report 2023 was created after months of discussion among the core members, mainly commercial banks. Development banks, export credit agencies, public agencies, finance associations, and second party opinion providers joined as observers and knowledge contributors. Energy and industry players also participated as guest speakers to share their perspectives. The ATF Annual Report 2023 describes the progress that has been made over the last year in the seven suggested support measures in the ATF Activity Report 2022, as well as more granular enablers that are still needed to accelerate TF by referring to the result of a survey to ATFSG members. The ATFSG believes that advancement in these areas will necessitate collaboration among all stakeholders, especially public authorities, TF receivers, and FIs, an area it will focus on going forward. This year, Security Bank has celebrated advancements in its sustainability journey including the approval of its Sustainable Finance Framework (SFF) by the Bank’s Board of Directors, the publishing of its first Integrated Report covering the FY 2022, and receiving the ESCAP Sustainable Business Network (ESBN) Asia-Pacific Green Deal Badge.

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‘ZIONIST IN MY HEART’: Biden’s devotion to Israel faces a new test

Then-Vice President Joseph Biden visits the Hall of Names at the Yad Vashem Holocaust memorial in Jerusalem, March 9, 2010. President Joe Biden has spent decades as a stalwart supporter of Israel, a connection rooted in dinner table conversations with his father about the Holocaust. Now his devotion is back in the spotlight after last week's Hamas attacks that caused the largest loss of Jewish life in a single day since the Holocaust. AP/Ariel Schalit

By Chris Megerian

The Associated Press

oe Biden had been to Dachau, the infamous concentration camp in Germany, several times before, but he sensed changes when he visited as vice president with a teenaged granddaughter. “It seemed as though things had been rearranged to make visitors less uncomfortable,” he recalled in a memoir published two years after the 2015 visit. “They had softened the cruel edges over the years.” Unwilling to settle for what he believed was a more sanitized experience, Biden asked the guides to bring them to the gas chamber, where they “slammed the door behind us with a frightening clank.” For Biden, it’s a direct line from there to the Hamas attacks on Israel, which caused the largest loss of Jewish life in a single day since the Holocaust. In a searing speech from the White House, Biden said the bloodshed “brought to the surface painful memories and the scars left by a millennia of antisemitism and genocide of the Jewish people.” The massacres and kidnappings have sparked a crisis that threatens to engulf more of the Middle East. They've also resonated deeply for the US president, whose devotion to Israel is rooted in a childhood that saw the birth of the Jewish state and in a political career that parallels repeated threats to destroy it. “He’s using all the knowledge of the people and the issues that he’s gathered over the last 50 years to handle what’s going on right now,” said Ted Kaufman, a longtime friend and adviser. Biden’s support for Israel has remained solid over the years even as some corners of his Democratic Party have urged a more critical approach toward the country and its decades-long occupation of Palestinian territory, which is widely viewed as illegal by the international community.

“He’s a politician of a generation that probably doesn’t exist anymore,” said Aaron David Miller, who has advised both Democratic and Republican administrations on the Middle East. Biden’s commitment could be tested if Israel launches an incursion into Gaza, where Hamas is headquartered, in a military operation that would compound the suffering already experienced by Palestinians facing waves of retaliatory bombardment. For now, Biden has offered only vague admonitions that Israel should follow the rules of war, which United Nations officials say are being violated by its siege tactics leading to dwindling supplies of food, medicine and electricity. Instead, Biden’s focus has been on demonstrating “unshakable” solidarity with Israel, including his remarks during a White House meeting Wednesday with Jewish leaders to talk about combating antisemitism. “Were there no Israel, no Jew in the world would be ultimately safe,” Biden said. “It’s the only ultimate guarantee.” During Biden’s remarks, he recalled his visits to Dachau, saying some doubted whether it was appropriate to bring his grandchildren, and his children before them, to the concentration camp when they were young. It was important, he said, to demonstrate not only the cruelty of the Holocaust but the apathy that allowed it to take place. “I wanted them to see,” Biden said, his voice rising, his fist rapping on the lectern, “that you could not not know what was going on.” Amy Spitalnick, a leader of the Jewish Council for Public Affairs

Biden and his granddaughter Finnegan tour the Nazi concentration camp in Dachau, Germany, with Max Mannheimer, a 95-year-old Holocaust survivor, on February 8, 2015, the person pushing the wheelchair is unidentified. David Lienemann/White House via AP who attended the Wednesday meeting, said it’s clear that Biden “feels it in his kishkes, as my grandmother would have said,” using a Yiddish word for gut. “There was deep appreciation for the moral clarity that the president has had,” she said. It’s a lesson that Biden traces to his father, who he describes as having a “preoccupation with the Holocaust.” Biden was born in 1942, three years before the end of World War II and six years before Israel’s founding, coming of age at a time when the world was reckoning with genocide. At the dinner table, then-senator Biden recalled during a 1999 hearing on antisemitism in Russia, his father would often talk about “how the world stood silently by in the 1930s in the face of Hitler.” Biden added that he is “a Zionist in my heart.” Biden has met every Israeli prime minister over more than five decades in elected office, starting with Golda Meir in 1973. It’s a story he frequently retells, most recently on Tuesday. During Biden's first trip to the country after being elected senator, he said Meir sensed his concern about the country's future. As they were posing for a photo after their meeting, Biden recalled, she whispered to him that Israel had a “secret weapon” to protect them—“we have no place else to go.” It was a remark that encapsulated Israel’s back-against-the-wall per-

Then-Israeli Prime Minister Golda Meir speaks at the United Nations, October 22, 1970. President Joe Biden has met every Israeli prime minister over more than five decades in elected office, starting with Golda Meir in 1973. In Biden's first trip to the country after being elected senator, he said Meir sensed his concern about the country's future. As they were posing for a photo after their meeting, Biden recalled, she whispered to him that Israel had a “secret weapon” to protect them — “we have no place else to go.” AP spective as a new nation surrounded by hostile Arab countries, some of which would invade only weeks later in the Yom Kippur War. But Biden also recognized another challenge, according to a classified Israeli document describing the meeting and obtained by Israel’s Channel 13 in 2020. He told Meir that Israel should begin relinquishing Palestinian territory that had been seized during the Six-Day War of 1967. Much of that land remains under Israeli control, and Biden acknowledged last year during a visit to Bethlehem, in the occupied West Bank, that there was little immediate hope of advancing the peace process. Biden also went to Jerusalem during the trip, and his remarks there

were a window into how he has tried to balance Israel’s imperiled beginnings and its current status as a regional power. He noted that his first stop after arriving in Israel was Yad Vashem, the Holocaust memorial, so he could “renew our vow of never again.” However, he said, “the Israel of today is not the Israel of 50 years ago,” with “new tools that keep Israel strong and secure,” not to mention “an ironclad commitment from the United States of America to Israel’s security.” Over the years, Biden has projected public support for Israel while also expressing private concerns about some of its actions. Frank Jannuzi, who worked for Biden when he was chair of the Senate

Foreign Relations Committee, remembered how the senator gave explicit guidance that any disagreements with Israel should be handled quietly. “It was very important in public venues, whether that is before Congress or the media or on the international stage, for the United States to stand shoulder to shoulder with Israel," Jannuzi recalled. Biden's reason, Jannuzi said, was that "if Israel felt insecure in the world, or isolated, because America had somehow distanced itself, then Israel would be less likely to listen to our advice.” Biden has made rare departures from that approach when dealing with Israeli Prime Minister Benjamin Netanyahu, who leads a right-wing coalition government that includes ultranationalist leaders. Netanyahu is pushing changes to his country's judicial system in a way that critics say would erode its democracy, and earlier this year Biden said the Israeli leader “cannot continue down this road.” The disagreements have not precluded Biden and Netanyahu from working together toward establishing diplomatic relations between Israel and Saudi Arabia, an effort that could be derailed by the latest fighting. And since the Hamas attacks on Saturday, Biden and Netanyahu have spoken repeatedly, most recently on Wednesday. Israeli officials and commentators across the political spectrum have expressed gratitude for Biden's backing, undercutting Republican criticism of the White House’s approach to the region. The US president “ just set a new standard of support for the Jewish state and the Jewish people in times of tragedy and war,” Herb Keinon wrote in the Jerusalem Post. The US has begun shipping munitions and military hardware to Israel, and an aircraft carrier strike group was deployed in the Eastern Mediterranean in a show of force intended to deter a wider conflict. Secretary of State Antony Blinken arrived in Tel Aviv on Thursday. “We will make sure the Jewish and democratic State of Israel can defend itself today, tomorrow, as we always have,” Biden said on Tuesday. “It’s as simple as that.”

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Editor: Gerard S. Ramos • Monday, October 16, 2023

Ivarluski Aseron revisits his greatest hits R

ecurring sartorial themes that are distinctively Ivarluski Aseron were revisited by the featured designer in his blockbuster showcase at the 2023 Red Charity Gala. Held at the Manila Peninsula on October 8, the fundraiser was organized by socialitephilanthropists Tessa Prieto and Kaye Tinga with support from Bench honcho Ben Chan and Angkas. In the run-up to what is already deemed as the best collection by a local designer in recent years, Ivar revealed his evolution as a creative force on several Facebook posts. There were sketches he submitted to the Young Designers Guild in 1999 as part of his portfolio: “The looks were inspired by the modern, minimal, sci-fi-inspired zeitgeist of the ‘90s. Looking back, I’m charmed by the alien features of the model in the sketches and by the idea that the same visual narrative runs through my work today.” For the Mega Young Designers Competition in 2002, he crafted a continuous piece of cotton gauze and rope on a mannequin to form a dress: “I challenged myself to use a single continuous line of fabric and organically form a garment by hand. There was a jusi gown with his signature pleats and geometric deco-inspired pattern: “This style has appeared in my collections since 2007 and since its debut, a number of women, including brides, have requested pieces inspired by this dress.” His book-leaf dress first appeared in Metrowear 2010: “This technique of lining fabric next to each other, like pages of a book, to create a 3D effect has been part of my DNA for more than a decade. Look through past and future garments of mine and you’ll find one of these. Just like in the pages of my history book.”

FULL CREATIVE FREEDOM

“THE title of my collection is ‘Memoir in Motion.’ It’s about revisiting old techniques and styles and finding a bridge to link the new ones I have explored,” Ivar shares, days after his sensational show which reportedly raised P7.5 million for the Philippine Red Cross, Assumption High School Batch 1981 Foundation, and Hope for Lupus Foundation. “I chose silhouettes away from the body for most of the looks but there are looks in body-skimming silhouettes also. The fabrics are silk duchess, wool, tulle, and gazar. The colors are black, gray, white, midnight blue, navy blue, dusty blue, burnt orange, and metallics in gold and silver,” he adds. Ivar joins a stellar lineup of the best in Philippine fashion who have been showcased in Red Charity Gala: Dennis Lustico, Furne One, Michael Cinco, Ezra Santos, Cary Santiago, Lesley Mobo, Jesus Lloren, Chito Vijandre, Joey Samson and Rajo Laurel. “Who wouldn’t say yes to do the Red Charity Gala? It’s an honor to be chosen to show at the charity event.

Tessa and Kaye gave me full freedom creatively. They only saw the collection at the show,” a grateful Ivar says. “When we had lunch at Tessa’s place with the past RCG designers who are based in Manila, they were all given a chance to talk and give me valuable words of advice. One said to start early and another said to limit my workload with clients. That’s exactly what I did,” Ivar reveals. “Stylist Noel Manapat, director Robbie Carmona and beauty experts Henri Calayag with Eric Maningat have always been part of the the Red Charity Gala team. It was an honor and pleasure working with them. As for Ricky Vicencio, both Noel and I requested for him to work on some of the headpieces,” he says of his collaborators. “The mood backstage was so calm. Everyone worked efficiently so we finished quickly. It helped also that I was so calm and everyone noticed that from the time I arrived until after the show. I’m very grateful to my staff as they worked hard to execute my vision. They told me they even cried when they saw me cry onstage.”

INCREDIBLE TECHNIQUES

FOR the 54 looks of his collection, Ivar categorized the pieces into four suites: Venetian Blinds, Jigsaw Puzzle, Sewing Tools, and Pleats. “In late 2019 when it was announced that I was doing the next Red Charity Gala, I had some ideas on what I wanted to create for my collection. I built on each suite so that it can stand on its own and would look cohesive. Each suite is distinguished by its own technique. While each piece is more stupendous than the previous one, there are some that are marvels in technique, execution and concept that an ingenious mind can only conjure. Jasmine Maierhofer opened the show. The mind-boggling look is made of laser-cut strips of fabric hand-sewn together to form the dress. Isabela Galeria’s look was a pleated dress with book-leaf details in a black, gray, white and beige base. Ana Buquid’s look had kimono sleeves. All were created using the Venetian Blinds technique. In the Sewing Tools suite: Ysabella Ysmael’s look was a strapless dress in taupe silk fabric with asymmetrical beadwork. The designer employed the same beadwork technique as Jo Ann Bitagcol’ dress. Julian’s look was made of exaggerated high-waist pants and tulle shirt with zipper pulls. Joshua de Sequerra’s look was a suit in dusty blue and gray with asymmetrical necktie. It has a sheer shirt worn over the suit. Ria Bolivar’s look was made entirely of jigsawpuzzle pieces sewn together then beaded. In the Pleats section, Samantha Lewis’ red carpetready look was made of silk duchess with draped details. The highlight was the oversized needle with threads. Marge Gutierrez’s look was a tulle gown with book-leaf details in dusty blue. Ivar’s muse, Jo Ann Bitagcol, closed the show in a look made entirely of cut-beads. In an amazing feat of construction, no fabric was used for the outfit except to cover the shoulder pads.

UNCONDITIONAL LOVE

Jaggy Glarino, a fast-rising designer, was one of the very few people Ivar showed his collection to even

RED CHARITY GALA 2023 Bench honcho Ben Chan, RCG founder Tessa Prieto, designer Ivarluski Aseron, RCG founder Kaye Tinga and Angkas CEO George Royeca; Samantha Lewis; Ria Bolivar, JoAnn Bitagcol, Jasmine Maierhofer; Marge Gutierrez

when they were just sketches until they became actual garments. Ivar considers Jaggy his “anak” in the industry “because I believe and trust in him. He was there from the beginning until the culmination. Thank you for the unconditional love an anak can only give to his mom. I love you, anak!” Jaggy was equally effusive in his praise for his industry mentor. “I am just incredibly lucky to have seen this collection develop from a mere sketch and fabric swatch months ago ‘til its full fruition at the Red Charity Gala 2023 stage. “I have witnessed the hard work, attention to detail and great care he poured into each garment.

This is somewhat a reflection of his generous and loving spirit translated into beautifully crafted artisanal pieces of clothing. He has blessed us with such a sublime and a deeply moving collection.” Amid all the high-powered guests and hautecouture atmosphere at the Manila Peninsula, Ivar basked in the warm familiarity of home. “I’m so grateful that my father was able to see my show for the first time. My family thought we were going to lose him two years ago. Everyday I prayed for him to get well. I thank God that he’s still with us,” a deeply touched Ivar shared. “I personally ushered him to my table. Before going backstage, I whispered to him, ‘This is for you and Ma.’ My mom would have felt the same way my dad did.” n

This new luminous foundation from MAC contains 33 skincare ingredients

THE MAC Studio Radiance Serum Powered Foundation is the brand’s biggest launch for the year. PopSugar called it the “best foundation MAC has ever come out with.” The new foundation was also described as the lovechild of the MAC Face and Body Foundation and the MAC Studio Fix Fluid. The formula, which comes in a wide variety of shades, has 33 skincare ingredients, including hyaluronic acid, olive and jojoba oils, and glycerin. It is sensitive-skin friendly. The bottle is made with recyclable glass and a cap made out of 30 percent postconsumer recycled plastics. Here are my thoughts about the foundation: During the Philippine launch of the MAC Studio Radiance Serum Powered Foundation, makeup artist

RB Chanco used her fingers to apply the product on young actress’ Cassy Legaspi’s skin. I think this was perfect for Cassy who is young and has beautiful skin. However, if your skin is less than perfect, you may use a MAC 170 angled brush or something that looks like it. Another recommendation from RB is to apply the foundation over the MAC Hyper Real Serumizer. Trust me on this. It really works. The Serumizer is tacky so it is perfect as a moisturizing primer. I will be honest. The foundation is just okay on me. I like the MAC Face and Body one better. I’m nearly 60 and MAC Studio Radiance Serum Powered Foundation is for younger women. It looks great on my 26-year-old daughter so I call it a Gen Z foundation. It doesn’t emphasize fine lines or cling to dry patches. On me, it just doesn’t provide the skinlike finish I expected since I thought this replaced MAC Face and Body. Having said all of that, I love how this is a luminous product that really just brings out the glow of your skin. It doesn’t settle into the skin’s cracks and crevices, like most luminous products do. However, there are some tiny shimmer particles in the formula, so if that is something that bothers you, you should test it before buying a bottle. If you think this foundation, being serumpowered, is watery, you’re wrong. The texture is slightly thicker than that of a serum but it’s still easy

to apply. The claim for the foundation is 12 hours of wear. I have worn it up to 8 hours with two blottings in between and the foundation held out fine. The MAC Studio Radiance Serum Powered Foundation is good for normal to dry skin types. If your skin is oily, you need a good setting powder, and touch-ups with a translucent powder will help keep oil at bay. I tried wearing it over a mattifying primer and it didn’t work. The coverage of this is said to be buildable. If you build this up, it would be defeating the purpose of using a light to medium coverage foundation that was created to be used effortlessly. And it is effortless and low maintenance to use it. If you have good skin, you don’t even need to use a concealer with it. The MAC Studio Radiance Serum Powered Foundation worked well with cream and powder products, and it didn’t pill. I like using it with creams and liquids. As with most foundations that contain skincare ingredients, the MAC Studio Radiance Serum Powered Foundation oxidizes. You need to go to a shade or two lighter. I am normally an NC35-NC40 in MAC foundations but for this one, I am only an NC25. It didn’t cause any breakouts or irritations. Also, if you’re a longtime fan of MAC’s foundations, you’d be happy to know that this has a pump.

Sparkle GMA Artist Center’s Ysabel Ortega poses at the launch of the MAC Studio Radiance Serum Powered Foundation. PHOTO FROM MAC COSMETICS PHILIPPINES

B6 Monday, October 16, 2023

AboitizPower, partners to rebuild Langgam Elementary School

BOITIZ Power Corporation (AboitizPower), in partnership with the Aboitiz Foundation, Inc. (Aboitiz Foundation), the Department of Education (DepEd), and the Office of Laguna First District Rep. Ann G. Matibag, will help rebuild Langgam Elementary School in San Pedro, Laguna. Last year, a fire burned down some of the classrooms of the school. This prompted partners in the public and private sectors to initiate the construction of a new school facility, which is envisioned to be a two-storey building that can accommodate four class sections or a total of 160 students at the elementary level. “On behalf of all of us at Langgam Elementary School, we would like to extend our appreciation to our partners from the Aboitiz Group, as well as the office of Congresswoman Ann Matibag, for turning our vision into reality,” said Langgam Elementary School President Shella Perez. “It is through our joint commitment to enhancing education that we are able to provide this new home to our students where they can have the best environment for learning.” “I found an organization that, like me, is bent on helping others. Thank you very much Aboitiz Foundation and AboitizPower; to its leaders and your staff who wholeheartedly and tirelessly coordinated with my office to make this project I've been dreaming of a reality,” Matibag added. Aboitiz Foundation President and COO Maribeth Marasigan also underscored the value of collaboration between businesses and communities in pushing for a conducive learning environment for the youth.

“In Aboitiz, we believe that collaboration between businesses and communities is critical to the growth of both. Our journey to this moment has been a testament to the power of working together, hand in hand, towards a common goal – to provide our students with an environment that fosters learning, growth, and excellence,” she said. Meanwhile, AboitizPower External Relations First Vice President Jason Magnaye said that Langgam Elementary School is more than just a physical

structure, as it also symbolizes the collective responsibility that was shouldered by those involved in the project. “To us, this structure means more than just a construction of halls, walls, and rooms. To us, this building marks our efforts in trying to genuinely make a difference in the lives of the students in San Pedro, Laguna. Hopefully, we are able to help mold them into future leaders who will help pave the way for an even better future,” he said.

Jabbre: Beating Traffic Blues, Revolutionizing Motorcycle Commutes in the Philippines

convenience; it’s a lifeline. It provides essential entertainment to help riders stay focused during extended hours, whether they’re grooving to music or catching up on their favorite FM radio shows.

Adventure Without Limits

S the Philippines grapples with everworsening traffic congestion, finding innovative ways to navigate the urban jungle has become paramount. Motorcycles have emerged as a favored solution, offering a swift escape from gridlocks. However, motorcycle riders often find themselves disconnected from their smartphones and the world around them. Enter Jabbre, a dynamic Filipino brand committed to transforming this experience. In a nation where motorcycles are the key to conquering traffic, Jabbre is changing the game. Riding a motorcycle should be thrilling, not isolating. Jabbre’s motorcycle Bluetooth intercom system seamlessly connects riders to their devices and each other, ensuring they stay in the loop while on the go.

Entertainment and Communication

PICTURE this: cruising through Manila’s traffic, enjoying your favorite playlist, or effortlessly answering calls - all without taking your eyes off the road. Jabbre makes this a reality. Its innovative intercom system keeps riders entertained and connected during their commutes, enhancing safety without compromising enjoyment.

A Lifeline for Delivery Services GROUNDBREAKING CEREMONY FOR NEW EDUCATIONAL FACILITY. Photo shows, from left to right, DepEd School Governance Operations Division Chief Frederick Byrd, Langgam Elementary School Principal Shella Perez, DepEd Curriculum Implementation Division Chief Erma Valenzuela, Laguna Councilor Iryne Vierneza, Laguna First District Rep. Ann Matibag, Aboitiz Power Corporation First Vice President - External Relations Jason Magnaye, and Aboitiz Foundation President & COO Maribeth Marasigan.

QC names Quezon City Green Awards' best barangays, institutions in climate and disaster resiliency practices

FOR food and parcel delivery riders facing long, demanding shifts, Jabbre is more than a

ADVENTURE seekers, take note! Jabbre’s intercom system isn’t limited to city streets. It shines in remote areas with poor network coverage. Whether you’re navigating the rugged terrains of the Philippines or exploring secluded regions, Jabbre keeps you connected to fellow riders. Safety and camaraderie have no boundaries.

Affordability Meets Functionality

JABBRE stands out for its affordability. Packed with features that rival more expensive international brands, Jabbre remains committed to providing a reasonably priced solution without sacrificing functionality. It’s a win-win for Filipino riders, enhancing their riding experience without breaking the bank.

Jabbre: A Necessity, Not a Luxury

IN a nation that treasures music and values human connections, Jabbre is a necessity, not merely a luxury. It transforms every ride into an enjoyable and connected journey, making commutes more efficient, entertaining, and safer. Whether you’re a daily commuter, a delivery rider, or an adventure enthusiast, Jabbre’s motorcycle Bluetooth intercom system is your trusted companion on the road. It bridges the gap between necessity and luxury, ensuring your ride is always a pleasurable experience.

Elevate Your Rides with Jabbre

STAY connected, stay entertained, and stay safe with Jabbre. Elevate your riding experience today with Jabbre, the Filipino brand that’s revolutionizing motorcycle commutes in the Philippines and beyond. Embrace the future of riding - embrace Jabbre.

ATOP-DOT PEARL AWARDS. The City of Biñan bagged the two major pearls at the recent ATOP-DOT Pearl Awards 2023. The city was awarded back-to-back Grand Champion in the category of Best Program for Culture and Arts Award and another Grand Champion trophy for the much-coveted Best Tourism-Oriented LGU Award category at the ATOP-DOT Pearl Awards 2023 in Boracay. The Pearl Awards honor outstanding programs and best practices of local government units in tourism, arts and culture management and governance. The City of Biñan has been a constant winner at the annual Pearl Awards since 2018. In the photo holding the two Pearl Awards is BJ Borja, Head of the Biñan City Culture, History, Arts and Tourism Office.

MullenLowe TREYNA Group Celebrates 45th Year with Key Personnel Movements across departments IN the photo are the Green Award winner Barangay Talipapa for their “May Buhay sa Basura ng Barangay Project: Barangay Talipapa’s Circular Economy Practices and the Resilient Award recipient Barangay Culiat for Fire Safety Horizontal Pipe System.

HE Quezon City Government has officially announced the winners of the first-ever Quezon City Green Awards held at Novotel Manila. During the awards night on October 6, 2023, the city government honored a total of 13 barangays, Sangguniang Kabataan, youth-based organizations, and businesses for their innovative and inclusive programs and project proposals related to Climate Action and Disaster Risk Reduction and Management. “May your efforts inspire positive change in every corner of this city. I promise you that your city will do its part to make sure your endeavors resonate far and wide. Be proud that you stand tall as part of a global movement to make sure our children inherit a healthy world,” Mayor Joy Belmonte said. The recipients of the Green Award include Barangay Talipapa for their “May Buhay sa Basura ng Barangay Project: Barangay Talipapa’s Circular Economy Practices;” SK Barangay Novaliches Proper for their “Gulaynihan: Gulayan at Bayanihan 2.0;” and the Unit 4 Youth Organization for its “Greenyard Urban Home Garden.” THRGH HBT Marketplace (Plastic Waste Transformed: Recycled Plastic Tiles for Living Design); SM Prime Holdings Inc – SM City Sta. Mesa (SM Sta Mesa Food Waste Management Project); SM Prime Holdings Inc. – SM City North EDSA for (SMart Humps) and Robinsons Land Corporation – Robinsons Magnolia (Green Residuals

Waste Management Program at Robinsons Magnolia) were among the Green Business Category awardees. On the other hand, the Resilient Award recipients include Barangay Culiat (Fire Safety Horizontal Pipe System); SK Barangay Batasan Hills (FYI: Oras na! Handa ka na ba); Halamanan Youth Association (Padyak Young Aiders). For the Resilient Business Category, the city hailed Megaworld Corporation for “Eastwood City, My Home, My place, My Responsibility;” SM City Fairvew – SCMC for “Disaster Education at SM City Fairview: Whole society approach in Disaster Risk Reduction and Resiliency;” and SM Prime Holdings Inc. – SM Novaliches for their “Smart Collapsible Flood Gate Barrier System for SM City Novaliches.” Each winner received a trophy and a P100,000 cash grant that they can use in their current and upcoming climate action and disaster risk reduction and management projects. The groups underwent a tedious assessment and field validation process from the members of the Green Awards Technical Working Group, which is composed of evaluators from selected city departments. “You really are all winners, just because you took it upon yourselves to put our planet and future first in your list of priorities. We take immense pride in calling you QCitizens, and it is an honor for us to have you call Quezon City your home,” the mayor added.

Among the attendees of the awards night were Embassy of Argentina to the Philippines Ambassador Ricardo Luis Bocalandro, First Secretary of the Embassy of Indonesia Ms. Mila Tarigan, Taipei Economic and Cultural Office in the Philippines - Political Division Deputy Director Emilie Yung-Chieh Shao, city councilors, department heads, barangay officials, and partner organizations. Special citation awards on Resilient Category were also given to the following barangays and organizations: Barangay Batasan Hills, Barangay Bagong Silangan, SM Prime Holdings, - SM Sta. Mesa, SMDC Sun Mall, Sun Properties Development Corporation, The First Analytical Services & Technical Cooperative, ACI Inc, Maynilad Water Services, Ayala Malls Trinoma. Further, Barangay Barangay Culiat, Barangay Novaliches Proper, Barangay West Kamias, SK Barangay Commonwealth, SK Barangay Payatas, Saint Mary Youth Organization, Batang Del Monte Organization, Sun Properties Development Corporation, Robinsons Novaliches, SM Prime Holdings Inc - SM City Novaliches, Destileria Limtuaco & Co., Inc., and UP North Property Holdings Inc. also received Special citation award on Green Category. Launched in May, the Quezon City Green Awards incentivizes groups and organizations that enact innovative, inclusive, and sustainable programs on Disaster Risk Reduction and Management and Climate Action.

ULLENLOWE TREYNA is kicking off its 45th year celebration with key personnel movements across all departments. Viboy Palillo moves up as the Chief Strategy Officer for the MLT Group, after leading the agency’s strategic planning team for over a decade. Sachi Iwasaki moves up as Account Director, owing to a history of industryleading work for key accounts Surf, 7-Eleven, and Axe. Nina Romero and Krystel Ibañez are also promoted to Senior Copywriter and Senior Art Director, respectively. They are best known for their works on Lucky Me, Intermed, Closeup to name a few. As one of the few full-service network agencies in the country, MullenLowe TREYNA is also promoting key personnel in its content production and finance arms, with JL Marfori moving up to Senior Lead Multimedia Artist of Paradigm. Jobelle Llanita now takes on the role of Associate Finance Manager.

Coming from a string of organic and new business growth for Galderma Consumer and Aesthetic lines, FWD Life Insurance, Unilever, and the Internet and Mobile Marketing Association of the Philippines, as well as recognitions in local and regional awards shows, the MullenLowe MARC PR division registers the greatest number of promotions this year. Gerald Lim now assumes the role of Head of Accounts, with Alyssa Dizon reporting in her new role as Account Director. Jean Sanchez moves up as Operations Supervisor. The MARC media relations team also reflects this momentum, with Iris Del Fierro taking the lead as Head of Media Relations. Moving up with her is Nikka Ramos, who assumes her new role as Senior Media Relations Manager. “We are extremely proud to see homegrown talent taking up leadership roles in the agency. It reflects the same commitment to excellence that we’ve always brought our clients for over 45 years,” says Mike Trillana, Chairman and CEO.

Marketing BusinessMirror

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Monday, October 16, 2023 B7

WHAT IS THE DIFFERENCE BETWEEN PURPOSE AND CSR? M

ost PR pros today are tasked to include the community efforts of the companies they work for in their communications mix. That is because, as Sebastian Jespersen indicates in an article published in Forbes, “more than ever, businesses are feeling the pressure to define their purpose and communicate it with their customers.” That’s because “customers today aren’t making decisions based on products or price. They are even looking at how a company acts and represents it values.” In Accenture Strategy’s global survey of almost 30,000 consumers, he notes that 62 percent want companies to take a stand on issues like sustainability, transparency, or fair employment in a way that matches with their own beliefs. This is especially true with the younger market. That is why, “in 2019, it seems as if every corporation has transformed itself into a purpose— driven company. Go to any corporate website, and you’re likely to come across a mission statement peppered with phrases like ‘creating an impact’, or ‘creating a positive difference in the world.’” This isn’t a bad thing, but as he writes in his article, Purpose is Not CSR. It’s Just Good Business, there is a tendency to approach purpose with a one-time corporate social responsibility program or PR campaign: “wrapped in pretty

Pangasinan entrepreneurs and artisans enter the Manila Fame stage for show-stopping debut

MANILA, PHILIPPINES—After a 40-year-long wait, Pangasinan is all set to present its bounty of artisan creations at international shows, with Manila FAME as its first stop. The province has tapped 10 MSMEs that deliver worldclass “Made in Pangasinan” creativity under the ABOUND project which discovers artisans and provides coaching and mentorship. The project is bringing these MSMEs as a group to the prestigious trade exhibition for the first time. With the full support of Pangasinan Governor Ramon V. Guico III, leaders of the province’s towns of Binalonan and Bolinao, and local agencies, Governor Mon Mon (as he is affectionately called) presented the 10 micro, small, and me-

dium enterprises at the project’s recent launch. The MSMEs have been carefully selected for their world-class and exportquality artistry and products from luxurious-looking fashion pieces to home furnishings that evoke tropical elegance to fantastic creations that showcase the province’s agricultural bounty and rich heritage. The Philippines’ premier trade show Manila FAME is finally returning on-site after three years on October 19 to 21 at the World Trade Center, promising an unforgettable celebration of Filipino creativity and craftsmanship. With the event’s return comes the province of Pangasinan’s attendance—its first in 40 years. “Promoting the province’s diverse creative industries through prestigious trade events like Manila FAME is a key part of the bigger economic growth initiatives in Pangasinan. MSMEs play a vital role in ensuring inclusive economic growth in the province, as they can help accelerate trade and exportation,” said Gov. Guico. “I believe that the MSMEs joining the Manila FAME will rep-

packaging and language ultimately lacking in substance.” That’s because while there is a tendency to confuse both terms, CSR is not purpose. Purpose is not CSR, nor is it philanthropy. “Purpose,” Jespersen says, “is an authentic expression of what your company can do together to build a brighter future.” In another Forbes article, Dan Pontefract cautions communicators to Stop Confusing CSR with Purpose. For him, CSR is not purpose. The purpose of an organization is different than CSR. Why is it in business? Why does it serve its stakeholders, which for him include the “gamut of employees, customers, partners, community members, environment/planet, and those seeking a fair financial return?” In a prnewsonline.com article, Explainer: What is the Difference between CSR and Purpose, Nicole Schuman agrees that “at first glance, the two terms may seem interchangeable. Both tend to imply corporate do-gooding, and the intended audience generally views these concepts in a positive light.” According to the United Nations Industrial Development Organization, which prioritizes business and organization, “corporate social responsibility is a management concept where companies integrate social and environmental

concerns in their business operations and interactions with their shareholders.” With this, CSR is generally understood as how a company “achieves a balance of economic, environmental, and social imperatives, while at the same time addressing expectations of shareholders and stakeholders.” On the other hand, GOOD Institute, which seeks to inspire and equip emerging leaders to build a more just and sustainable world, defines a purpose driven company as “going beyond the role of offering a product or service and developing programs that have a social or environmental impact, which brings more meaning to what businesses do.” Sandra Stewart, Principal of impact PR firm Thinkshift Communications, says that while the term CSR initially referred to actions corporations took to benefit communities where they operate, it expanded as concern over climate change grew. With this CSR expanded as it evolved into another branch called Environmental, Social and Governance or ESG. ESG also includes

resent the best of everything made in Pangasinan. They embody what Pangasinan, Ang Galing truly means.” Herwin Buccat known as Herwitanyo, a painter from Bolinao who features surrealist and nature-fantasy-inspired artwork. The ABOUND Team conducted one-on-one coaching on how to interpret his works and fortify his DNA. His commissioned pieces were then translated into art merchandise such as notebooks, tumblers, and pencils, as well as totes, shirts, and hoodies. Blades, hailing from Pozorrubio, produce swords that have been featured in Hollywood films. Project ABOUND has helped evolve these collector’s items into high-quality chef knives and trendy fashion accessories such as bespoke necklaces and bracelets. Erastus from Sto. Tomas is a furniture maker, who with the help of Project ABOUND’s product development team, has learned new applications of materials, and now features sleek designs that modernize home and office spaces. ILO from Laoac is a produc-

er of home accessories made from locally sourced materials. Through the project, this MSME has evolved into using industrial materials for their designs that can very well enter the luxury market. WELAB (Women Empowerment Livelihood Association of Binalonan) used to produce ordinary recycled market bags. With the project’s involvement, their designs were elevated to upcycled handbags that can be considered as a signature collection. Alma from Pozorrubio is a producer of ethnic droplights. After consistent collaboration and rigorous material research, the products have become one-of-a-kind home and interior accessories characterized by their rustic elegance. Rach based in Aguilar is a maker of bamboo bags. With regular design and product development guidance, these fashion accessories have transformed into chic crystalembellished bags. Cawayan from Bolinao utilizes buri to create bags and mat products. After going through process development,

What makes them different?

a social dimension which reports of workplace standards, and diversity, equity, and inclusion efforts both inside the company and the community. In short, whatever you call it— CSR, sustainability, or ESG, these are Stewart says, “initiatives for most companies that have been responses to changing consumer and investor expectations.” She adds, though, that while these are smart ways to strengthen a brand, they’re not core to the business, and may take a back seat when they affect profitability or growth, or when political winds shift. One purpose driven company would be one of Thinkshift Communication’s clients, CNote, which aims to close the wealth gap through financial innovation. Stewart gives us a glimpse of how they do it by “putting corporate and other investor’s money into impact driven community financial institutions.” These are businesses led by women and people of color, as well as affordable housing, and other community benefits. How can PR pros avoid inter-

and coloring and molding procedures with the ABOUND team, Cawayan weavers now make an inspired, signature bag. Joy based in Basista uses corn husks and bangkuang for home accessories and fashion bags. The project has helped transition the designs from a natural look to a classic luxury aesthetic. The youngest of this batch of MSMEs, B6 (Blessed Six) began from a group of more than 30 young individuals who have undergone and continue to attend training and guidance through the project. With a lot of effort and support from Mayor Ramon Ronald V. Guico IV, the current crop of emerging artisans and entrepreneurs has produced seven collections of espadrilles to be launched in both domestic and international markets. Pangasinan’s Manila FAME bid started with the help of the Artisan Empowerment Association (AEA), which aims to elevate MSMEs in Pangasinan, especially those specializing in handcrafted creations. It is an initiative envisioned by esteemed businesswoman and

changing terms? Here’s a guide. Purpose is the big picture; CSR is a detail that is part of the mix. Purpose is at the core of the business and long term; CSR is more short-term, profit driven, and goal oriented. Purpose driven leaders align their personal and organizational goals with a higher purpose. These leaders are able to inspire their teams to achieve great things, create a positive impact on society, and ultimately achieve long term success. A CSR program can be a tool to achieve purpose. PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

the chair of the board of the World Citi Group, Arlyn Guico, and industry expert, entrepreneur, and CEO of luxury brand Mele + Marie, Rosemarie Oamil, who both hope to show that there’s more to the province than most people think. “Artisan Empowerment Association equips budding designers and entrepreneurs with capacity-building resources and opportunities like mentorship and training programs that enable them to showcase their work to a wider market so they can uplift their lives and their communities,” shared Arlyn. “Our vision is to help Pangasinan-based artisans reach their highest potential through quality assurance and business development. As we prepare to present our remarkable MSMEs and their diverse product categories at Manila FAME, our vision for a prosperous Pangasinan is more vivid than ever,” assured Rosemarie. Catch these top Pangasinan MSMEs and see their incredible artisanal creations up close at the Manila FAME from October 19 to 21, 2023 at the World Trade Center.

Sports BusinessMirror

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onday, October 16, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Obiena’s elite act draws ugly bash By Josef Ramos

RNEST JOHN “EJ” OBIENA got perhaps his first bash in social media now that he’s risen to No. 2 among the elite male pole vaulters in the world. And his team is angry. “It’s biased. It’s irresponsible. It’s reckless. It’s unprofessional. It’s a false accusation, with zero foundation,” Jim Lafferty, Obiena’s personal confidante, told BusinessMirror on Sunday. Anais Lavillenie, wife of London 2012 Olympics pole vault gold medalist Renaud Lavillenie of France, accused Obiena of having doped on his way to achieving his elite status next only to Olympic and world champion and record holder Armand Duplantis. Anais Lavillenie accused Obiena of being on PED (performance enhancing drug) in her comment on Vaulter Magazine-Vaulter Club Inc.,

a Facebook page among top athletes that has 93,000 followers from all over the world. “Obiena doped and it’ll fail like Braz…Same Coach. Same Plan. Same Objective!” Lavillenie said in her comment on the page. On Braz, Anais Lavillenie meant Rio Olympics champion Thiago Braz who was suspended starting last July after testing positive for doping by the Athletics Integrity Unit. Braz was a training partner of Obiena under renowned Ukrainian Vitaly Petrov, the “Same coach” Anais Lavillenie was obviously referring to in her comment. “It’s tarnishing EJ’s sterling reputation,” said Lafferty, adding he has advised Obiena not to comment publicly on the bash. “It’s a brazen attempt at tarnishing EJ’s sterling reputation.” “We shall consult a lawyer,” added Lafferty, stressing Obiena has never tested positive of PEDs and has

undergone anti-doping procedures in the world championships—last year in Eugene where he got bronze and last August when he finished behind Duplantis. World Athletics, Lafferty said, is very strict and adheres to testing athletes on a consistent and random basis. “He [Obiena] has had as many as three to four tests in a week. Never a positive ‘A’ sample in all tournaments ever since,” Lafferty said. “I know EJ well and I know his character.” “She says he dopes, no evidence whatsoever. But it’s a bigger story than this—it’s a story of how a Filipino is succeeding in a traditional European sport that makes people uncomfortable…and leads them to embrace lies because they can’t handle the truth,” Lafferty said. “EJ is just outperforming the competition.” Obiena leaped to 6.0 meters twice this season and made the podium in 22 of 24 events he took part in,

including the Hangzhou 19th Asian Games where he set a new games record and at the world championships in Budapest. He joined the 6 meters club twice—where one of those was when he captured the Philippines’ first ever silver medal in the World Athletics Championships in Budapest, Hungary last August 27 just a year after settling for bronze in Eugene Oregon 2022 World Championships. Renaud Lavillenie is one of the most successful pole vaulters in the world for having dominated the event before Duplantis came along. Now ranked No 43, the 37-year-old Frenchman, a many-time world indoor and outdoor champion and Olympic medalist, hasn’t been in the mix this season and leapt to no more than 5.41 meters in his three Diamond League stints. Lavillenie, silver medalist in Rio 2016 and bronze winner in the 2017 London worlds, has yet to make the 5.82m standard to qualify for the Olympics to be hosted by his native country in Paris next year. Obiena already made Paris in a Norway competition last July. The 27-year-old athlete from Tondo, meanwhile, wrapped up his brief vacation and left for Dubai on Sunday for another R&R before heading to his training base in Formia, Italy.

ROTC Games ready LPGT aces see action in Taiwan LPGA for National Finals A at Rizal complez

ENATOR Francis “Tol” Tolentino and Philippine Sports Commission (PSC) chairman Richard Bachmann both look forward to the culminating National Finals of the Reserved Officers’ Training Corps (ROTC) Games following the completion of the fourth and final qualifying leg for the National Capital Region (NCR) over the weekend. “Despite the challenges in logistics, we were able to complete the qualifying legs and we’ll bribng the winners from the NCR, Luzon, Visayas and Mindanao to the national finals,” Tolentino said. The National Finals are set October 22 to 27 at the Rizal Memorial Sports Complex in Manila. “As we have reached the last leg of regional qualifiers and brace for the National Finals, I firmly believe that these victorious regional legs were a great testament to both Senator Tolentino and the PSC’s dedication to fortify discipline among our young talents,” said Bachmann during Sunday’s closing ceremony for the NCR leg at the Ninoy Aquino Stadium. The ROTC Games held qualifiers for the Visayas in Iloilo City and Mindanao in Zamboanga City last August and September and Luzon in Indang and Tagaytay City last month. “These games are not merely competitions, they are a reflection of the dedication, determination and teamwork that our ROTC cadets demonstrate day in and day out,” Bachmann said. The games are a nationwide competition among cadets from the Philippine Army, Navy and Air Force. Army cadet-athletes topped the NCR leg with 20 gold, 20 silver and 16 bronze medals, followed by Air Force with 15-15-11 (gold-silver-bronze) and Navy with 14-14-14. Tolentino said plans are up to hold the opening ceremony for the National Finals at the Quirino Grandstand. He also confirmed the transfer of venue from Marikina City to the Rizal Memorial Sports Complex of the games, a collaborative effort of the Department of National Defense and Armed Forces of the Philippines as well as the PSC and the Commission on Higher Education.

LL but one of the seven winners in this year’s 10-leg Ladies Philippine Golf Tour (LPGT) gear up for a highly-charged Ladies Professional Golf Association (LPGA) of Taiwan in the Party Golfers Ladies Open starting November 8 at the Lily Golf and Country Club in Guanxi Township in Hsinchu, Taiwan. Daniella Uy, who closed out the local tour season with a victory at Mimosa to emerge the winningest with three wins, banners the 16-player strong LPGT contingent in the NT$4 million championship spread over 54 holes on a course that poses a real challenge with its undulating terrain and sleek putting surface. Uy, who also topped the LPGT stops at Forest Hills and Del Monte, tied for fourth when the Filipinas last competed in the Party Ladies Open in 2019, finishing three strokes behind winner Yu Ling Hsieh of Taiwan at the National Golf Country Club in Miaoli County. But the LPGT stalwarts are keen on producing a breakthrough result coming off a series of tournaments at home, ready to pit skills and talent not only with the Taiwanese but also with aces from Thailand, Japan and Korea, among others. Joining Uy in the roster are two-leg (Luisita and Villamor) winner Harmie Constantino, Bacolod leg titlist Chanelle

Avaricio, Caliraya Springs champion Pauline del Rosario, Valley stop winner amateur Mafy Singson, and Florence Bisera, who reigned at the South Pacific Classic. Avaricio and del Rosario are both expected to come into the event in fine form following stints on the Epson Tour with the duo also set to vie in Stage II of the LPGA Q-School from October 17 to 20 in Florida. Completing the LPGT list are Mikha Fortuna, Marvi Monsalve, Rev Alcantara, Sarah Ababa, Pamela Mariano and Chihiro Ikeda along with Koreans Seoyun Kim and Ju Young Yang and amateurs Laurea Duque and Lia Duque. The event also firms up the LPGT-TLPGA partnership forged in 2015 through the organizing Pilipinas Golf Tournaments Inc. when the International Container Terminal Services Inc. Ladies Open served as the fourth leg of the TLPGA circuit. The two circuits had co-sanctioned a number of events since then and renewed their partnership after the pandemic when they co-staged the inaugural Anvaya Cove Ladies Invitational at Anvaya Cove Golf and Country Club in Morong, Bataan won by Bianca Pagdanganan last February.

CHLOE ISLETA flies home from Arizona to participate in the national selection event.

What’s a little criticism? YOU know the saying about how the only certain things in life are death and taxes? Wong. It is so incomplete.

How about you throw in social media? Yes, you can roll your eyes now. Cringe. Swear under your breath. Yes, this 21st century invention that has given voice to millions and millions of pseudo-coaches and Monday morning quarterbacks, critics, celebrity wanna-bes, wellmeaning people and demagogues, and trolls—who can forget this evil invention—among many others to voice out their thoughts, agendas, venom, black propaganda and talents within a click of a button and within a second. Social media means you can literally comment about anything. Like everything else, it is both good and bad. Like I always say, if you are willing to take the praise, be sure as heck you take the bad. You cannot have it one way. It doesn’t work that way. In sports…next to the games themselves, one pastime is to react—good or bad, objective, funny, insightful, misinformed or outright caustic—to wins, losses and

ADEL or padel tennis got formally introduced in the Philippine sports community with world No. 2 men’s pole vaulter Ernest John “EJ” Obiena playing a friendly with the sport’s benefactor Senator Pia Cayetano last Friday at the Play Padel Courts in Mandaluyong City. “It’s very fulfilling to play this sport although I know that this is just the start of the long journey of padel sport here in our country,” said Cayetano, who spearheads the two local padel courts so far in the country at the BGC and Mandaluyong City. Padel is a cross between tennis and squash and traces its origin in Mexico. The court though is smaller than tennis and while tennis balls are used, play allows players to bounce the ball off the walls. Play is done doubles and is scored the same way as tennis. “It’s not easy to build this new venue,” Cayetano said of the Mandaluyong facility. “But after this, I am looking forward to build the community so the work begins now.” “Training of the coaches is also ongoing so they will able to train the players to be better athletes,” added Cayetano during the Play Padel Media Day also graced by entrepreneur Nico Bolzico. An enthusiast of tennis, Obiena said he was excited trying his hand at padel. “It’s really different but I’m having fun because it’s something new. I believe this sport will become popular soon,” Obiena said. “I’m here for Senator Pia and it’s great playing padel with them.” Padel, according to pioneering coach Bryan Casao, is a social sport for all ages and skills. “As more Filipinos are playing padel, more competitions will be held,” said Casao, who announced the staging of the Padel Pilipinas League that was played over the weekend. Casao is the first Filipino professional padel coach and head of Play Padel Philippines. ERNEST JOHN “EJ” OBIENA and Senator Pia Cayetano sweat it out during the Play Padel Media Day. NONIE REYES

Davao Occidental netfest unfolds

J DANIELLA UY leads a 16-member contingent to Taiwan.

Isleta, Chua display dominant form in national pool tryouts for Asian tilt ORLD championships campaigners Chloe Isleta and Xiandi Chua were good as advertised on the final day Sunday of the Philippine Aquatics’ National Tryouts at the Teofilo Yldefonso pool inside the Rizal Memorial Sports Complex in Malate, Manila. Top juniors Michaela Jasmine Mojdeh, Heather White and Jamesray Ajido also made their marks with multiple victories to also emerge as top contenders for the 44-member national team the 11th Asian Age Group Championships the country is hosting from December 3 to 6 at the New Clark Aquatics Center in Capas, Tarlac. The Arizona University mainstay Isleta, 25, captured four gold medals, while Chua, 24, dominated two events in the three-day tryouts that

EJ takes time out to play padel with Sen. Pia

attracted the country’s top swimmers, both local and foreign based. Isleta, swimming out of One Ilocos Sur Swim Team coached by former Olympian Ryan Arabejo, topped the girls 18-over 100 meters backstroke (1:04.04), 100 (56.86) and 200 freestyle (2:04.57) and 200 individual medley (2:18.06). Chua, on the other hand, ruled the girls 18-over 50 back (30.20) and 50 freestyle (26.06).Isleta and Chua swam at the world championships in Fukuoka, Japan, last July. “We’re happy to see them joining the tryouts. They both came home from training in the US, proof how important these tryouts are to them,” said Philippine Aquatics Inc. secretary-general and Batangas 1st District Rep. Eric Buhain.

OSE MARIA PAGUE emerged tournament top seed in the absence of injured Johnny Arcilla but focus will be on Alberto Lim in the Governor Franklin Bautista National Open Tennis Championships at the Malita courts in Davao Occidental. The week-long, top-ranking event got under way Sunday with Pague and the other seeds tipped to hurdle their respective first round matches. Pague yielded a 4-6, 3-6 result to Bryan Otico in a riveting title clash last year with Pague out to settle an unfinished business this week against a field eager and ready to slug it out for one of the richest prizes staked in an open tournament plus Tennis Philippines and Universal Tennis rating points. The men’s singles winner will

pocket P100,000 and trophy with the runner-up to receive P50,000 plus trophy and ranking points. The men’s doubles champions will also get P80,000. Leading the contenders’ list are Josshua Kinaadman, Eric Jed Olivarez, Eric Tangub, Alexis Acabo, Jude Ceniza and Eury Gaspar. But Lim looms as the marked player in the P403,000 event sponsored by Governor Bautista and held in conjunction with the Araw ng Davao Occidental founding anniversary after the former University of the East standout bucked the odds and won the recent Olivarez Cup, ending a three-year title spell. The event is part of the Palawan Pawnshop-Palawan Express Pera Padala program put up by Palawan Pawnshop president and CEO Bobby Castro.

ASIAN SENIORS CHESSFEST ON

Philippine Olympic Committee (POC) president and Tagaytay City Mayor Abraham “Bambol” Tolentino and Kazakhstan Chess Federation vice president Biket Zharokov make the ceremonial moves to open the 12th Asian Seniors Chess Championships at the Knights Templar Hotel in Tagaytay City on Sunday. Also in photo are Asian Chess Federation executive director Toti Abundo, Grandmaster Rogelio Antonio Jr. and representatives of the other participating countries.

whatever is in between. For me, it’s all part of the game. Same as bad officiating and injuries. You take them. Yes, the naysayers can be either right, annoying, vicious, and completely off, but that’s part of it. What irks me more than these negatives are these socalled centrists who always say, “just get behind your team, win or lose. Don’t say anything bad, just encourage them.” Where did these people come from? So by keeping polite everything will be all right? Since we all belong to one school, one city, or community, we should just pay lip service and offer constructive criticism? If someone reacts in a stronger manner, then they are bashers? Really now. If we go by their logic—we are from this school—we should get behind whatever coach and team that is put out there, then chew on this. So the coach never scolds or says something hurtful to

his players? Really? All Russians should support Putin and his insane war on Ukraine? That we should not decry the wrong both Hamas and Israel have inflicted upon one another? I wish these eggheads would rally behind the president and government of the Philippines no matter what happens. Whether it be the matter of confidential funds, rising prices, the Chinese and the Spratlys, the election allegedly being rigged, or what have you. You see how that sounds ridiculous? Have you ever been scolded by your parents? They must have said something hurtful at some point. Maybe even physically hurt you. So let’s go by that illogical thinking—so our parents are bashers? Come to think about it, these centrists or apologists are part of the game. We have to take them—ugh— because the world needs them for us to measure our way of thinking. Besides, nobody ever said that life is perfect to begin with.

A BusinessMirror Special Feature

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GENCARS@45:

A JOURNEY FUELED BY EXCELLENCE & INNOVATION

N the fast-paced world of the automotive industry, where trends shift as quickly as gears change, longevity is a rare gem. Nevertheless, Isuzu Gencars stands tall and proud as it celebrates an astounding 45 years of automotive excellence. This is more than a tale of a company; it's a narrative of resilience–a journey defined by unwavering commitment to core values and an ode to innovation. The Pioneering Spirit Isuzu Gencars was founded by Ambassador Antonio L. Cabangon Chua in 1978. From the founder’s perspective, it wasn't just a company; it was a vision forged in partnership with military generals who shared the dream of offering Filipinos access to top-quality Isuzu vehicles and services. The name "Gencars" pays homage to the company's military roots, as most of its initial investors were esteemed generals. The first dealership emerged in Makati City–a large one-hectare property housing a grand Isuzu vehicle showroom and a stateof-the-art five-star service center dedicated to providing the highest level of car care to clients.

Spinning the Wheels of Progress To reach more hearts and homes across the Philippines, Isuzu Gencars embarked on a journey of expansion. In 1996, Isuzu Batangas opened its doors in Sto. Tomas, Batangas. This was followed by the opening of Isuzu San Pablo in 2000 which caters to clients in the Laguna and Quezon provinces, and the Bicol region. Recognizing the potential in Bicolandia, Isuzu Gencars established Isuzu Legazpi in Legazpi City, Albay, in 2006 and Isuzu Naga in Pili, Camarines Sur in 2008. These locations not only offered enhanced transportation options, but also delivered modern after-sales services to the people of the Bicol region. 2016 marked another milestone when Isuzu Gencars inaugurated its sixth dealership in Batangas City, strategically positioned at the Batangas City Grand Terminal Complex. The following year, the company spread its wings to Santa Rosa, Laguna, with its seventh branch. This allowed the company to serve major establishments in the city and the surrounding areas while maintaining its hallmark of exceptional after-sales service.

Crafting Papal History Isuzu Gencars' legacy extends beyond the showroom floor and into the archives of history. The company had the honor of crafting the Popemobile used by Pope Francis during his historic visit to the Philippines in January 2015. Collaborating with Almazora Motors, Isuzu Gencars customized the two-cab Isuzu D-MAX to meet the stringent standards and requirements set by Vatican Security. The dedicated team at Gencars adhered to Japanese standards, implementing the Advanced Product Quality Planning (APQP) system to ensure the vehicle met the tight production deadline. After successfully passing the Vatican's inspection, the Isuzu D-MAX Popemobile was blessed by then Manila Archbishop Luis Antonio Cardinal Tagle before becoming Pope Francis's primary mode of transportation during his Manila travels. Continued on page C4

Monday, October 16, 2023

Gencars@45 A BusinessMirror Special Feature

DOYA: ISUZU GENCARS' SIGNATURE OF EXCELLENCE

SUZU Gencars has more than 45 years of experience to show for its history of consistent excellence and commitment to customer satisfaction. Over the past four decades, Isuzu Gencars has garnered various prestigious awards and recognitions as a testament to its devotion to excellence.

The crown jewel among these awards is undoubtedly the renowned Dealer of the Year Award (DOYA), an honor bestowed by none other than Isuzu Philippines Corporation (IPC). This accolade stands as a testament to the dealership's exemplary performance, the tireless dedication of its workforce, and its unwavering commitment to delivering unparalleled service. The DOYA is a celebration of the sales and after-sales teams' collective achievements, acknowledging their relentless pursuit of excellence. It's a recognition reserved for the best among Isuzu dealers nationwide. Isuzu Gencars branches have repeatedly won this highlycoveted award, further reinforcing the company's reputation for allencompassing excellence. Isuzu Gencars’ journey of excellence commenced with the first Dealer of the Year Awards in 2004, a milestone year in the dealership's history. Isuzu Gencars Makati established itself as a top performer in the automotive industry by becoming the first Isuzu dealership to secure the prestigious

DOYA title. This remarkable achievement was merely the start of a winning legacy. In 2005, the Makati branch once again emerged victorious, solidifying its place as one of the select few dealerships to win Dealer of the Year back-to-back. Isuzu Gencars consistently pursues excellence, exemplified by the Makati branch's multiple top DOYA placements over the span of several years. In 2016, Isuzu Gencars Batangas was recognized as the Dealer of the Year, further highlighting the dealership's commitment to excellence. Isuzu Gencars San Pablo has also consistently achieved top placements at various DOYA events over the years. The most recent Dealer of the Year Awards in 2022 once again cast Isuzu Gencars Makati into the spotlight, this tim e as the overall grand champion. The branch also secured 1st place in Excellence in Parts Operations and 2nd place in Excellence in Service Operations, solidifying its position as a dealership that consistently excels across multiple facets of its operations. At the core of Isuzu Gencars' success story lies its exceptional team of talented personnel, dedicated sales associates, and skilled service technicians. Their tireless dedication

and steadfast commitment have been the driving force behind the company's journey to excellence, accelerating the company to unprecedented heights within the automotive industry. With a proven track record of greatness, Isuzu Gencars remains firmly focused on the future, actively seeking more opportunities to expand and provide Filipinos nationwide with unrivaled customer service and the highest quality Isuzu products, ensuring that its legacy of excellence continues to thrive for years to come.

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J&T Express and San Miguel:

Thriving with Isuzu Gencars

N the dynamic world of business, the key to success lies in the ability to adapt to the ever-evolving needs of customers. Isuzu Gencars, a prominent player in the automotive industry, has mastered this art and established itself as a cornerstone of support for various businesses. By providing top-quality Isuzu vehicles, Gencars has become a reliable partner in the journey of countless companies, contributing significantly to their growth and success. One such success story is the partnership between Isuzu Gencars and J&T Express, Inc., a rapidly expanding logistics company. J&T Express has secured a significant fleet of Isuzu trucks through its partnership with Isuzu Gencars. Among these, the Isuzu NQR and FVR truck models have become the backbone of J&T Express operations, enabling swift and efficient package deliveries across the entire

Philippine archipelago. In the delivery industry, punctuality and dependable transportation are nonnegotiable. J&T Express recognized the importance of having a trusted partner, and Isuzu Gencars emerged as the perfect fit. As J&T Express aspires to offer its services even in remote and challenging locations, Isuzu vehicles from Gencars have proven to be robust and capable of handling diverse terrains, ensuring seamless service delivery across the nation. San Miguel Integrated Logistics Services, Inc. is another testament to the fruitful collaboration between Philippine businesses and Isuzu Gencars. San Miguel’s partnership with Isuzu Gencars has resulted in the procurement of hundreds of customized Isuzu trucks, tailored to meet their specific operational requirements. Moreover, Isuzu Gencars goes the extra mile by

providing maintenance services,ensuring that San Miguel can keep its fleet in optimal condition. Beyond delivering exceptional products and services, Isuzu Gencars places great emphasis on nurturing relationships with its clients. This commitment to building trust and rapport not only engenders confidence in its clientele, but also actively contributes to the growth of its partners' businesses. Isuzu Gencars has earned a reputation as a reliable and trustworthy ally for businesses striving for success. The dealership group stands unwaveringly by the side of Philippine businesses, offering innovative solutions and steadfa st support. As the Philippine economy and business landscape continues to evolve, Isuzu Gencars remains a driving force, helping its clients navigate the ever changing tides toward greater accomplishments.

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GENCARS@45:

MESSAGES

A JOURNEY O FUELED BY EXCELLENCE & INNOVATION

UR heartfelt congratulations to Gencars, Inc. on your 45th anniversary.

Truly, your journey to what you have become today has been built with excellence and constant innovation throughout the years. Your contribution to the entire Isuzu Dealer Network has played a big role in helping us maintain our Number 1 Truck Brand position and pursue a deeper level of customer satisfaction.

And as we drive the Isuzu brand into a new era, let us not forget the legacy of your founding father, to persevere and dedicate much effort into providing excellent service to our customers nationwide, all while improving mobility and contributing to nation-building. Happy anniversary, Isuzu Gencars family!

MR. TETSUYA FUJITA

ODAY, we celebrate the 45th anniversary of Isuzu Gencars. It fills me with immense pride and gratitude as we reflect on our remarkable 45-year journey, one fueled by innovation and excellence.

President, Isuzu Philippines Corporation

On this significant day, it is impossible not to acknowledge the profound influence of our founder, my father, Amb. Antonio L. Cabangon Chua. His vision, dedication, and unwavering commitment to excellence continue to inspire us every day. I vividly remember the days when I was being trained by my dad about the operations of Isuzu Gencars, and all I can say is thank you, and I love you, Dad. Your legacy lives on, and I am determined to carry it forward, striving each day to make you proud. Our progress over the years has been driven by a relentless pursuit of excellence. Our ongoing expansions and the remodeling of our existing dealership outlets are a testament to our dedication to the Isuzu Outlet Standard (IOS) design philosophy. These improvements not only enhance our facilities, but also help Isuzu redefine its role in the global and local automotive industry. I want to extend my heartfelt gratitude to Isuzu Philippines Corporation for their unwavering support and the fruitful partnership we have enjoyed over the years. To our valued clients, your trust in Isuzu Gencars' services has been the cornerstone of our success, and we pledge to continue to uphold excellence in all that we do. To our employees, you are the backbone of Isuzu Gencars. Your hard work, dedication, and commitment to our company have been instrumental in achieving our goals. It is your unwavering dedication that has propelled us to where we are today. D. EDGARD A. CABANGON As we look ahead to the future, I am filled with optimism and excitement about the opportunities that lie ahead. Together, as one Isuzu Gencars family, we will continue to thrive and innovate.

Continued from C1 Pope Francis praised the Isuzu

Popemobile, calling it "a beautiful car," and requested another one that he can use in the Vatican. A second Isuzu D-MAX Popemobile, produced with the assistance of Almazora Motors, was brought to the Vatican later that year. The Cabangon family gifted the vehicle to Pope Francis in Rome, Italy, in October 2015. This momentous occasion not only fulfilled a crucial role but also showcased the world-class capabilities of Filipino craftsmanship.

Driving Toward a Bright Future As Isuzu Gencars continues its journey beyond its 45th year, the company stands as a symbol of excellence and innovation. With a team of talented personnel, dedicated sales associates, and skilled service technicians, Isuzu Gencars reaffirms its commitment to providing the best quality Isuzu vehicles and services to an ever-growing clientele. Under the visionary leadership of Chairman D. Edgard A. Cabangon, the company is positioned to reach greater heights and continue its vital role as a dependable partner to Isuzu Philippines Corporation, contributing to the nation's progress. Gencars, Inc. is not merely a dealership; it's a beacon of enduring excellence, a testament to Filipino ingenuity, and a driving force in the ever-evolving world of the automotive industry. As it gazes toward the horizon, one can only imagine the innovations and milestones that lie ahead in this remarkable journey fueled by excellence and innovation. In a world where change is constant, Isuzu Gencars stands as a steadfast pillar, steering toward a future where automotive excellence knows no bounds.

Chairman and Chief Executive Officer

S we reflect upon the path we've traveled, it's clear that our relentless pursuit of innovation has been a driving force behind our enduring success. We have consistently pushed the boundaries of what's possible in the automotive industry, setting new standards and raising the bar year after year. This journey would not have been possible without the unwavering support and collaboration of our esteemed partner, Isuzu Philippines. Your commitment to quality, reliability, and innovation has mirrored our own values, making our partnership a true testament to what can be achieved through shared goals and a dedication to excellence. To our valued clients, we extend our heartfelt gratitude for your trust in Isuzu Gencars' services. We remain committed to exceeding your expectations and providing you with the exceptional products and services you deserve. Behind every milestone, there are dedicated individuals who work tirelessly to make it happen. Our employees have played a pivotal role in shaping Isuzu Gencars into what it is today. We appreciate each one of you for your contributions, and we look forward to many more years of collaboration and growth together. As we look ahead to the future, our commitment to innovation and excellence remains unwavering. We will continue to push the boundaries, explore new horizons, and provide innovative solutions that meet the evolving needs of our clients and the automotive industry. As we embark on the next phase, let us do so with the same passion, dedication, and LERMA O. NACNAC unwavering commitment to excellence that have defined Isuzu Gencars for the past 45 years. President Happy 45th anniversary, Isuzu Gencars!

ISUZU GENCARS' COMMITMENT TO CUSTOMER SATISFACTION SOARS TO NEW HEIGHTS Expansive, Upgraded Look of Isuzu Makati and Isuzu Batangas with the Isuzu Outlet Standard Isuzu Gencars has once again demonstrated its dedication to customer satisfaction through its compliance with the Isuzu Outlet Standard (IOS). Spearheaded by Isuzu Philippines Corporation (IPC), this innovative philosophy redefines the customer experience, focusing on enhancing the overall flow within dealerships. Isuzu Makati, Gencars’ flagship dealership, unveiled its transformation on March 30, 2022, ushering in a new era of customer service. The dealership's exterior was redesigned, featuring the Isuzu logo displayed elegantly in white against a sleek black backdrop, accented by Isuzu's iconic red color. The branch's interior was also upgraed with a new, cozy customer lounge that invites visitors to relax. But the journey towards excellence doesn't stop there. The next Isuzu Gencars branch to modernize with the IOS design is Isuzu Batangas in Sto. Tomas, which is set to relaunch this year on October 18, 2023. The branch's updated design promises a seamless and delightful experience for every visitor. This strategic upgrade exemplifies Isuzu Gencars' steadfast dedication to their core mission: delivering the highest quality customer experience.

Expanding Horizons: Isuzu San Pablo's New Home For 22 years, Isuzu Gencars San Pablo has stood tall as the trusted haven for brand-new Isuzu vehicles and dependable vehicle services in Laguna, Quezon, and the Bicol region. Located along the vibrant Colago Avenue in Barangay 1-A, San Pablo City, the dealership has earned a stellar reputation for exceptional customer service and top-notch Isuzu vehicles tailored to diverse needs. Continued on page C6

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Driving Positive Change: Isuzu Gencars' Commitment to Corporate Social Responsibility

Isuzu Gencars, a top dealership group of Isuzu Philippines Corporation (IPC), is a shining example of a company that understands corporate responsibility. With a mission to market only the best products and provide top-quality service to ensure complete customer satisfaction, Isuzu Gencars also embraces a broader vision–t o be one of the premier dealers in the motor vehicle industry. This vision is underpinned by the company’s core values of excellence, customer satisfaction, and integrity. However, what truly sets Isuzu Gencars apart is its commitment to Corporate Social Responsibility (CSR) initiatives, in line with IPC's corporate slogan, "Your Responsible Partner."

Past Initiatives: Making a Positive Impact Isuzu Gencars has already made remarkable strides in its CSR journey. In February this year, Isuzu Gencars displayed its commitment to helping local communities by donating a brand-new Isuzu Traviz utility van to Caritas Manila. The official turnover ceremony was a heartwarming occasion, where Reverend Father Antonio Cecilio T. Pascual gratefully accepted a symbolic key from Isuzu Gencars Chairman D. Edgard A. Cabangon. Caritas Manila expressed their profound appreciation for this thoughtful gesture, highlighting that the Isuzu Traviz would serve as a valuable asset for the organization. Specifically, the organization shared that the Isuzu Traviz would be used to collect donations, which are essential in advancing Caritas Manila's noble mission of providing assistance to impoverished individuals and communities.

Another noteworthy initiative is Gencars’ partnership with the Philippine Red Cross for blood donation drives conducted at almost all of its branches. These initiatives play a vital role in addressing the constant need for blood in medical emergencies, underlining Isuzu Gencars' dedication to saving lives within the community. Isuzu Gencars has been actively involved in environmental conservation. Mangrove cleaning and coastal water cleanup activities have helped protect fragile coastal ecosystems, ensuring a cleaner and healthier environment for local communities. The dealership has also taken part in treeplanting initiatives, which contribute to reforestation efforts and the mitigation of climate change.

Future Commitments: Planting the Seeds of Change Isuzu Gencars is set to conduct more CSR efforts with a primary focus on tree planting, exemplifying the company's dedication to environmental sustainability. Beyond beautifying green spaces, these tree-planting initiatives serve a dual purpose by contributing to carbon offsetting–a vital measure in combating climate change. Additionally, the dealership is preparing for a series of additional cleanup drives. This proactive stance toward community engagement underscores the company's commitment to

enhancing the beauty and cleanliness of the Philippine coastlines. Pristine beaches and coasts not only enhance the aesthetic appeal of the region, but also play a pivotal role in promoting the overall well-being and quality of life for the local residents. Isuzu Gencars exemplifies what it means to be a responsible corporate citizen. Its dedication to CSR initiatives aligns perfectly with its core values of excellence, customer satisfaction, and integrity. By actively participating in blood donation drives, environmental conservation, and cleanup activities, Isuzu Gencars is making a tangible difference in the communities it serves, fostering a brighter and more sustainable future for all.

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ISUZU GENCARS: Your Responsible Partner I

SUZU understands that small and medium-sized enterprises (SMEs) are what make our economy great. They employ the most people worldwide, drive innovation, and keep our economy healthy. Despite how much good SMEs bring to the economy, they still face major challenges. To show support and appreciation for our local businesses, Isuzu Gencars holds several events every year dedicated to uplifting and empowering SMEs in local communities.

Tra-Biz Food and Crafts Bazaar As an initiative of the Gencares for Local Biz Program, Isuzu Gencars held the Tra-Biz Food and Crafts Bazaar at the Isuzu Makati branch for the first time from October 13-15, 2022. The bazaar embodies Isuzu Gencars’ commitment to supporting small businesses and fostering a sense of unity within the local communities it operates in. A wide variety of food, clothing, and accessories were sold by local business owners, ranging from savory meat and fresh fruit to rejuvenating skincare products and stylish tote bags. The highlight of the bazaar was the Isuzu Traviz, the most versatile truck made for small businesses. The body of the Isuzu Traviz was customized into a mobile market where fresh vegetables and other goods were displayed and sold to customers, providing just one example of the many ways the Isuzu Traviz can adapt to meet the demands of different business needs. Live music from local artists was performed throughout the day, providing the perfect soundtrack for visitors. To empower small

businesses further, exclusive promotions and discounts were offered, providing them with the boost they needed to expand their reach and engage with a wider clientele.

Isuzu Truckfest: Pagkilala sa Negosyong Pilipino The Isuzu Truckfest: Pagkilala sa Negosyong Pilipino was an event held last July 2023, across all Isuzu Gencars dealerships nationwide. It gave local business owners an exclusive opportunity to experience first-hand the impressive abilities of Isuzu trucks such as the Traviz, N-Series, and F-Series. Each Isuzu truck was thoughtfully equipped with customized body modifications to display their adaptability to various industries, ensuring that business owners found the perfect match tailored for their business needs. The event showcased three commercial vehicle models that cater to businesses of all sizes. The Isuzu Traviz, designed for small businesses, offers unparalleled maneuverability and fuel efficiency, making it the perfect choice for urban deliveries. The Isuzu N-Series is ideal for medium-sized businesses, with its versatile design and powerful engine. And for larger corporations, the Isuzu F-Series reigns supreme, boasting impressive hauling capabilities and advanced safety features. The event offered special discounts on Isuzu trucks, along with a comprehensive service package that included free express checkup, PMS and general job discounts, and an Isuzu Gencars Service Loyalty Card. Additionally, every new truck purchase came with a thoughtful gift box filled with essential items for new truck

owners. The Isuzu Truckfest truly embodied the spirit of community and empowerment, nurturing the growth and success of local small businesses.

Next-Gen Mobility: Isuzu PUV Exhibition In collaboration with Isuzu Philippines Corporation, Isuzu Gencars Naga and Isuzu Gencars Legazpi hosted the "Next-Gen Mobility: Isuzu PUV Exhibition" from September 18-23, 2023 at the Isuzu Naga branch. This exhibition offered attendees the unique opportunity to immerse themselves in Isuzu's cutting-edge Public Utility Vehicles (PUVs). The showcase highlighted Isuzu's PUV lineup, featuring eco-friendly attributes, advanced safety enhancements, and ergonomic designs. The knowledgeable Gencars team not only introduced clients to their offerings, but also provided valuable insights. Additionally, attendees enjoyed special discounts and a generous array of freebies as part of the event.

Empowering Small Business Owners Isuzu Gencars created Small Biz Owners PH, a Facebook group designed as a community for aspiring Filipino business owners to make connections, exchange valuable tips and tricks, seek support, and share their experiences. With several hundreds of members, business owners found a welcoming platform to not only network, but also to boost their online presence. Members enthusiastically shared their social media handles and the range of products and services they offered. Small Biz Owners PH has grown into a dynamic and empowering community, fosteringgrowthandtogetherness among small business owners.

Continued from page C4

In recognition of its consistent growth and the ever-increasing number of satisfied customers, the Isuzu Gencars group made a strategic move. Gencars acquired a sprawling 1-hectare property at Km. 85 Maharlika Highway, Barangay San Ignacio, San Pablo City, Laguna, setting the stage for the company's vision. The groundbreaking ceremony, held on October 3, 2022, marked the inception of a bigger state-of-the-art facility–the new Isuzu San Pablo. Spanning an impressive 7,220.23 square meters, this expansive new location ensures ample space for vehicle displays and an enhanced customer experience. With the IOS and the grandeur of the new Isuzu San Pablo, Isuzu Gencars is committed to elevating customer satisfaction to unprecedented heights, crafting an automotive experience that transcends expectations.

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Elevating the After-sales Experience P

URCHASING the perfect vehicle is more than just the initial sale. Beyond the superior features of its vehicles, what makes Isuzu Gencars the best choice for customers is the unmatched excellence of its after-sales services. Gencars’ commitment to customer satisfaction is evident in the consistent awards its after-sales personnel have received and in the company’s business practices.

Isuzu Service Skills Olympics All technicians at Isuzu Gencars undergo regular training from Isuzu Philippines Corporation (IPC) through the Isuzu Service Technician Education Program, which fully equips technicians with the skills, best practices, and latest technologies to provide the highest quality service for customers. The results of this rigorous training can be seen in Gencars’ consistent success in prestigious competitions. Over the years, Isuzu Gencars after-sales personnel have proved their excellence in the Isuzu Service Skills Olympics (ISSO), which tests the employees’ technical skills and knowledge. At the 16th ISSO in 2021,

Isuzu Gencars Makati technicians Mr. Genesis Maniago and Mr. Eric Donghil placed 2nd Runner-Up in the Service Technician Category, which tests skills in vehicle inspection, diagnosis, troubleshooting, and servicing. Continuing this trend with the 17th ISSO in 2022, Mr. John Kenneth Basierto placed 2nd Runner-Up in the Parts Staff Category, which tests for knowledge of Isuzu products, basic parts operation, the Isuzu parts catalog, parts key performance indicators, and stock control. At the 18th ISSO held just last June 2023, Ms. Maria Noime Cabaltera won as Champion in the Service Advisor Category,

which tests knowledge of automotive fundamentals, products and warranty; the Isuzu vehicle servicing process and aftersales activities; and the Isuzu Health Report. Competitors were also assessed on core customer support flow and aftersales services. To top it all off, Isuzu Gencars technician, Mr. Angelito Quirioso, is set to compete in the upcoming I-1 Grand Prix in the Commercial Vehicle category, representing the Isuzu Philippines Team and showcasing Isuzu Gencars’ dedication to nurturing talent and ensuring top-tier service excellence across all its dealerships.

Monday, October 16, 2023

Five-Star Service Isuzu Gencars offers a wide range of services, such as periodic maintenance service (PMS) which ensure the durability and performance of vehicles. Highly-trained technicians conduct general repairs, while body and paint repairs expertly restore vehicles to perfection after accidents. To award loyal customers, Isuzu Gencars also offers an exclusive Service Loyalty Card program. Upon completion of the card, customers will automatically become part of the Isuzu Gencars Service Plus membership, which gives exclusive access to exciting rewards.

Outside Service Isuzu Gencars goes the extra mile by offering outside services tailored specifically for its fleet accounts. Isuzu Gencars understands that business operations have unique demands and schedules, and the outside service offer is designed to accommodate these specific requirements. This service covers the full scope of services provided at the shop itself, ensuring that no aspect of vehicle maintenance is overlooked. With this service, customers can get their vehicles serviced at their preferred time and location. To show appreciation for loyal clients, Isuzu Gencars offers Local Service Agreements and Parts Supply Agreements that provide clients with exclusive perks that enhance vehicle maintenance, operation, and servicing. Tailored to customers’ specific needs, this agreement includes a range of services designed to keep fleets in top shape and provide the best possible business solutions.When it comes to aftersales services for your vehicles, Isuzu Gencars distinguishes itself from the competition. Highly-skilled technicians and five-star services characterize Isuzu Gencars commitment to ensuring that all clients’ vehicles receive the proper care and attention they deserve. Customers can trust Isuzu Gencars to keep their vehicles running smoothly and efficiently, enabling worry-free journeys on every adventure.

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THE NEW ISUZU MU-X

MADE FOR THE ULTIMATE FAMILY ADVENTURE

IG families come with big needs, and the new Isuzu mu-X is here to meet them all. With its latest addition of the classy new color variant, Norwegian Blue, this SUV is not only a powerhouse of performance, but also the epitome of style and luxury. When you step into the Isuzu mu-X, you embark on a journey that promises unforgettable road trips filled with comfort and sophistication.

Made For Every Adventure With seating for seven people, no one gets left behind. Create lasting memories with your entire family on every journey. Easily adjust the seats to accommodate various patterns and configurations, whether you need more legroom or additional space for cargo. Listen to playlists together, navigate with ease, or stay connected through calls and messages with the 10.1" touchscreen infotainment system compatible with Android Auto and Apple CarPlay. No matter the adventure, the Isuzu mu-X will adapt to your needs effortlessly.

Enhanced Safety Features Your family's safety is our utmost priority. The Isuzu mu-X is equipped with the Advanced Driver Assist System (ADAS) to provide better protection and prevent incidents. From pre-crash safety systems that anticipate potential collisions to rear and side assists that enhance visibility, you can trust the Isuzu mu-X to keep you and your loved ones safe on the road. Additionally, the cruise control and lane support features ensure a smoother and more controlled driving experience.

Luxury Redefined Not only does the new Isuzu mu-X excel in functionality and safety, but it also boasts a luxurious look. The new world cross-flow front grille in magnetite and black chrome adds an element of intrigue, making heads turn wherever you go. Glide down the road in unparalleled style with the redesigned 20" alloy wheels that exude sophistication. Illuminate your path with the brilliance of the Isuzu mu-X's bi-LED headlamps and daytime running lights, ensuring you stand out, both day and night. Completing the package is the Isuzu mu-X's signature winglet rear combination LED tail lamps, boasting a 3D dynamic design that communicates an unmistakable sense of luxury and style. The SUV’s sleek design, premium finishes, and attention to detail create an exquisite driving experience. Step inside the new Isuzu mu-X and elevate your everyday journey with a touch of elegance that transforms every drive into a first-class experience.