BusinessMirror October 23, 2023 by BusinessMirror

Saudi, PHL expanding labor relations By Jovee Marie N. dela Cruz @joveemarie

HE Pa l ace h a s a nnounced the Philippines and Saudi Arabia are committed to strengthening their collaboration in trade and investments, labor partnerships, and renewable energy initiatives. The Presidential Communications Office (PCO) made a statement following a bilateral meeting between President Ferdinand R. Marcos Jr. and Saudi Crown Prince and Prime Minister Mohammed Bin Salman. At their recent bilateral meeting on the sidelines of

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the first ASEAN-GCC Summit, Prince Mohammed conveyed his interest in enhancing trade and investment relations with the Philippines and also expressed keen interest in the Maharlika Investment Fund (MIF) and more business-tobusiness engagements. In response, Marcos expressed the Philippines’s readiness to engage with Saudi businesses, aiming to understand the structure of Saudi sovereign wealth funds, saying this understanding will pave the way for private sector involvement in the Maharlika Investment Fund. To support and align with

NORTHERN HOLIDAY EXPRESS Leading in operating the Northern Holiday Express train is Quezon City 1st Dist. Rep. Juan Carlos “Arjo” Atayde, (third from right) and the Philippines’ Mr. Christmas Jose Mari Chan. With them are (from left) SM SVP for Marketing Joaquin San Agustin, AVP for Special Events Hanna Carinna Sy, Quezon City councilors Charm Ferrer and Doray Delarmente and SMNE SAVP for Operations Jocelyn Ann Lapid Clarino. Have a magical Northern Express experience at SM City North EDSA with the towering 60-foot-tall classical Christmas tree surrounded by 110-footlong red express. The locomotive is fully adorned with iridescent lights and wreaths, surrounded by meticulously crafted architecture, reimagining the elegant central stations abroad.

Saudi Arabia’s Vision 2030 and its sustained growth objectives, the Crown Prince expressed a strong interest in hiring more Filipino workers, whom he hailed as among the world’s best. He emphasized the Kingdom’s need for a larger workforce, with ambitions to increase Saudi Arabia’s population from the current 20 million to at least 60 million, with 14 million contributing to the nation’s workforce. For his part, Marcos expressed the Philippines’s willingness to assist Saudi Arabia to supply skilled workers and professionals.

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COAL-FIRED PLANTS EXIT TO STRAND $10-B ASSETS By Cai U. Ordinario

‘MIC INFUSION DIDN’T DENT LBP, DBP LOAN FUND FOR FARMERS’

@caiordinario

HE phaseout of coal-fired power plants in the Philippines would lead to $10 billion in stranded assets, according to the World Bank.

This is under the Accelerated decarbonization scenario (ADS) which aims to achieve the goal of reducing annual carbon dioxide (CO2) emissions by 80 percent by 2040. The World Bank said given the amount of stranded assets this could cause, the Philippines should be more proactive in finding ways to resolve this problem. “The phasing down of this capacity would take place from 2028 to 2040 under the ADS as dictated by the goal of achieving 80 percent annual CO2 emissions reduction by 2040,” the World Bank said. “Given the large financial cost of the stranded assets in accelerated decarbonization, active pursuit of solutions needs to start early,” he added. Based on the study, in order for the country to achieve the 80-percent annual emissions reduction by 2040, less than 3 gigawatts (GW) of coal- fired power should be in operation in 2040 under ADS. This is significantly less than 14 GW that could remain under the Current Policy Scenario (CPS). The CPS, the World Bank said, is similar to policies in the Philippine Energy Plan (PEP) 2020-2040 but also adjusted to a lower GDP growth rate. Currently, the World Bank said, the Philippines coal-fired power plants (CFPPs) is at 11 GW as of 2020. These CFPPs are young and majority of these were commissioned only in 2010. See “Coal-fired,” A2

By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Finance (DOF) on Sunday said the capital infusion by the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LandBank) to the Maharlika Investment Corp. (MIC) did not impact their “loanable funds” to farmers and other sectors. Finance Secretary Benjamin E. Diokno said the contributions made by the two state-run banks were “secured from their investible funds.” Diokno claimed that LandBank and DBP continue to “maintain” a “solid” financial position even after their respective capital infusions to the MIC. “The participation of these government financial institutions [GFIs] would help increase the MIF’s investment base and could result in significantly higher rates of returns,” he said. “We are continuously talking to all stakeholders involved in order to ensure the best possible outcome for the Fund. Both LBP and DBP are resolute in their commitment to responsible financial management and shall have proper representation in the Board,” he added. The Marcos Jr. administration recently pitched the Maharlika Investment Fund (MIF) to various business leaders in the

Kingdom of Saudi Arabia during a recent roundtable meeting. “Maharlika seeks to work with other sovereign wealth funds, both as an investment partner and peer in the global sovereign wealth fund community. We look forward to exchanging views and learning from the best practices of top-of-class funds, such as those here in Saudi Arabia,” Diokno said. Minister of Saudi Arabia Khalid A. Al-Falih expressed interest in MIF, noting that the Philippines is one of the “exciting markets” in Asean, according to the DOF. The DOF quoted Marcos as saying the Philippines is looking forward to Saudi Arabia’s “investments and insights from its extensive experience in financial management.” Last week, LandBank said its capitalization as of the first half remains more than adequate to cover its financial risks despite contributing to the country’s MIC. LandBank said its Capital Adequacy Ratio (CAR) at end-June stood at 16.61 percent, “well above” the 10-percent minimum requirement of the Bangko Sentral ng Pilipinas (BSP). The DBP has also been revealed to have sought regulatory relief from the BSP due to concerns that it might find it difficult to comply with the minimum CAR requirement after contributing to the MIC.

EXPLAINER »B4 RELATIVELY SAFER A solitary cyclist crosses Javier Bridge at the Cainta-Pasig border, embraced by the hues of a city sunset. This lone expedition mirrors the hurdles of public commuting in the Philippines, accentuating the call for upgraded transportation solutions. Despite the limited protection of bollards and raised cement on Javier Bridge, the rider experiences a relatively safer journey compared to other unprotected city streets. This underscores the need for improved safety measures along urban cycling routes. BERNARD TESTA

Chinese Coast Guard: PHL resupply boat blocked us By Malou Talosig-Bartolome @maloutalosig

HE Chinese Coast Guard has confirmed that their vessel and a Filipino civilian resupply vessel had a brief collision a few nautical miles away from the Ayungin Shoal in the West Philippine Sea on Sunday.

However, the Chinese Coast Guard claimed it is the Philippine vessel Unaizah Mae 2 which “ deliberately” turned its rear towards the front of the Chinese boat, which resulted in the collision. Gan Yu, spokesman of China Coast Guard, said the incident started when Philippine vessels

“trespassed without permission” into the waters near Ayungin Shoal (or what it calls Ren’ai Reef on Sunday, October 22). “Since t he Phi l ippine side ignored China’s repeated warnings, the China Coast Guard responded lawfully and blocked the Phi lippine vessels which were i l lega l ly c a r r y i ng con-

struction materials,” Yu said in a statement. He stressed that the Coast Guard was “lawfully conducting law enforcement activities” when the Philippine resupply boat allegedly “sailed at the bow [front side]” of China Coast Guard 5203 “on purpose.” See “Chinese,” A2

WHY EUROPEAN DRIVERS ARE OPTING FOR CHINESE ELECTRIC CARS

PESO EXCHANGE RATES n US 56.8640 n JAPAN 0.3797 n UK 69.0727 n HK 7.2681 n CHINA 7.7791 n SINGAPORE 41.4370 n AUSTRALIA 35.9665 n EU 60.1905 n KOREA 0.0420 n SAUDI ARABIA 15.1605 Source: BSP (October 20, 2023)

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A2 Monday, October 23, 2023

PHL’s net oil imports 17% down to $8.16B in Jan-June

By Lenie Lectura

@llectura

HE country’s net oil import in the first six months of the year went down to $8.16 billion, 17 percent lower than the $9.83 billion recorded in the same period a year ago, data from the Department of Energy (DOE) showed.

The net import bill is the difference between oil imports and exports. In terms of total volume, the DOE recorded 13.45 billion liters at end-June this year from 12.91 billion liters in the same period a year ago. The country’s total oil import bill amounted to $8.38 billion, 16.6 percent lower than the $10.06 billion posted at end-June of 2022. In terms of volume, total imports slightly rose to 13.76 billion liters

Chinese...

from 13.10 billion liters. “This was attributed to low import cost of crude and finished petroleum products in the first half of 2023 vis-a-vis first half of 2022,” the DOE report stated. Of the total imports, 78.2 percent consists of finished products and 21.8 percent is crude oil. The same data showed total crude imports amounted to $1.825 billion, 6.3 percent lower than the $1.949 billion in the same period

Continued from A1

The move, he claimed, was “not professional nor safe in spite of China’s advanced notice and repeated warnings.”

“At 0813 AM, the Philippine vessel 4409 began to astern deliberately, leading to collision of the stern [rear] of its vessel into the starboard [right] of China’s

last year. Imported crude oil reached 3.476 billion liters at end-June this year, up by 23.7 percent from last year’s level of 2.811 billion liters. All crude oil imported from January to June this year was sourced from the Middle East; 50.2 percent of it came from Saudi Arabia, the country’s major supplier of crude oil. While 26.9 percent came from UAE and the remaining 22.9 percent were imported from Iraq. Meanwhile, imported petroleum products stood at 10.281 billion liters from 10.291 billion liters of last year’s level. The most imported product during the period is aviation turbo at 42.6 percent, which can be attributed to the lifting of travel restrictions. The same with importation of fuel oil and gasoline products, which grew by 27.5 percent and gasoline at 6.3 percent, respectively. Most of the imported finished petroleum products was sourced from South Korea, 25.37 percent; China, 24.44 percent; Singapore, 23.79 percent; Malaysia, 12.58 per-

cent; and Japan, 4.28 percent. On the other hand, the Philippines’s export earnings amounted to $223.16 million, lower by 1.5 percent from $226.57 million. In terms of volume, total petroleum product exports went up to 303 million liters from 192 million liters. Majority of the country’s products export went to China with an export share of 34.94 percent, followed by South Korea with an export share of 28.84 percent. Next were Singapore, India, Indonesia and Taiwan with 19.93, 5.66, 5.12 and 4.2 percent export share, respectively. The remaining 1.33 percent was exported to Japan. These petroleum products were made up of fuel oil, 17.1 percent; naphtha, 35 percent; mixed xylene, 19.4 percent; toluene, 11.3 percent; benzene, 4.2 percent; propylene, 3 percent; and molten sulfur, 10 percent. Total crude oil exported for the period was up by 3.5 percent to 47.9 million liters from 46.3 million liters last year. The exported crude destination was Thailand.

static floating Qiong Sansha Yu 00003,”Yu said. The Chinese Embassy in Manila released two videos of the Chinese Coast Guard to prove their narrative. One video is a bird’s eye view, probably taken from a drone, and then the other appears taken from their Coast Guard vessel.

Yu accused the Philippine vessel of provoking the Sunday collision “to make faults with China and escalate the current situation.” “The Philippines’s action seriously violated the International Regulations for Preventing Collisions at Sea and threatened the navigation safety of the Chinese vessels. The operation of the Chinese side was professional, legitimate and lawful and the responsibility lay entirely with the Philippine side,” he added.

International reaction

AMBASSADORS of the United States, Canada, Australia, Japan, Germany, The Netherlands, and the European Union immediately reacted to the incident. The US and Canada issued very strongly-worded statements condemning the Chinese Coast Guard and maritime militia vessels for the incident. “The United States condemns PRC’s latest disruption of a legal Philippine resupply mission to Ayungin Shoal, putting the lives of Filipino service members at risk. We stand with our #FriendsPartnersAllies in protecting sovereignty and in support of a #FreeAndOpenIndoPacific,” US Ambassador MaryKay Carlson tweeted. Canadian Ambassador David Hartman said China’s actions “are unjustified.” “China has no lawful claim to the West Philippine Sea. Its actions are incompatible with the obligations of a signatory to the UN Convention on the Law of the Sea,” Hartman said in a statement. “Continuing acts of intimidation and coercion undermine safety, stability, and security across the region, and increase the risk of miscalculation,”he added. Japanese Ambassador Koshikawa Kazuhiko said he is “seriously concerned and alarmed” over the collision incident. EU Ambassador Ambassador Luc Veron called “these incidents, their repetition and intensification”as“dangerous and very disturbing.” Meanwhile, two European ambassadors also made separate statements related to this incident—German Ambassador Andreas Pfaffernoschke said Germany is “very concerned” while Dutch Ambassador Marielle Geraedts calls the collision as “another worrying incident.” “Australia is concerned by China’s dangerous maneuvers that damaged Philippine vessels and disrupted a Philippine resupply mission in the EEZ [exclusive economic zone],” Australian Ambassador HK Yu PSM tweeted. The Dutch and Canadian ambassadors said they were glad nobody got hurt. The Canadian envoy commended the “professionalism and restraint exercised by the Philippine Coast Guard.” Germany, The Netherlands, EU, Australia and Canada supported the Philippines on the need for all parties to abide by the international law and the United Nations Convention on the Law of the Sea (Unclos). “The South China Sea is a vital international waterway for us all. We again call for peace, stability and respect for Unclos,”Australian envoy added. Japan, Germany and Canada cited the need to respect the 2016 Arbitral decision, too, that invalidated China’s nine-dash line claim over the entire South China Sea. “Japan strongly opposes any unilateral attempts to change the status quo by force or coercion.We stand with/by PH’s position; upholding maritime order based on Unclos & 2016 Arbitral Award,” Ambassador Koshikawa added.

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Coal-fired...

Continued from A1

The cost of these stranded assets are on top of the total system cost of the ADS which is estimated at $133 billion. This is 6 percent higher than the $125.4 billion cost of the CPS. While this is true, the World Bank said, pursuing ADS would generate substantial global benefits. If the country pursues ADS, the global environmental damage cost of CO2 emissions would only be $35 billion under ADS, than $51 billion under CPS. Locally, the environmental damage could also be lower under the ADS. The World Bank estimated that this could be at $9.8 billion under ADS but $14.5 billion under CPS. “It is also in the interest of the global community, particularly the developed countries, to support the Philippines in pursing an accelerated energy transition pathway by sharing some of the incremental financial burdens,” the World Bank said.

Research Office (AMRO) earlier said the Philippines is among the countries that are at low risk for stranded assets among ASEAN+3 economies. The report explained that stranded assets would include natural resources such as fossil fuel reserves left in the ground and investments in infrastructure or properties that would never be fully utilized due to the transition to net zero. AMRO said these will no longer be utilized due to government regulation, technological change, or evolving societal norms and consumer behavior to respond to a country’s aim to shift to clean energy. Based on data from the Degree of Exposure to Stranded-Asset Risk index for 2019, the country’s index score is 0.3, which is lower than most ASEAN+3 economies and higher than Japan at 0.29 and Singapore at 0.15. AMRO explained that the index indicator ranges from 0 to 1, where 0 is the lowest exposure and 1 is the highest exposure.

AMRO’S view

HOWE VER, ASEAN+3 Macroeconomic

Saudi...

Continued from A1

The Crown Prince also mentioned during the meeting possible partnerships in renewable energy, noting that, for example, a Saudi company that produces solar panels for the whole Middle East and Africa could also invest in the country. The Kingdom also wants to partner with the Philippines in the energy sector. The President emphasized the country’s readiness to partner with Saudi Arabia to boost the Philippines’s clean energy supply. Marcos also offered the Philippines’s cooperation in ensuring food security by initiating agricultural projects aimed at food production for the Saudi Arabian market.

undertake the visit. The two leaders earlier met in Bangkok, Thailand, at the sidelines of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in November last year.

Investment and pledges

MEANWHILE, Speaker Ferdinand Martin G. Romualdez said Marcos’s two-day Saudi Arabia trip secured billions of dollars in actual investment and pledges, opening huge job opportunities for Filipinos and strengthening strategic ties with allies that promise to boost our nation’s economic prosperity. During the President’s trip, several agreements were signed between Saudi and Filipino companies, with an estimated total value of $4.26 billion. These agreements are expected to benefit approximately 300,000 Filipino workers and have piqued the interest of Saudi businesses in the Maharlika Investment Fund. These developments were the result of the President’s meeting with top Saudi business leaders on the sidelines of his participation in the 2023 Asean-GCC Summit, as well as bilateral meetings held with several GCC leaders. According to Romualdez, these accomplishments are anticipated to have a positive impact on the country’s growth and prosperity, reflecting growing confidence in the Philippines as an attractive destination for foreign investment.

Unpaid benefits

MEANWHILE, the PCO said, the issue of unpaid benefits for Filipino workers previously employed by Saudi companies that went bankrupt was also discussed. The Saudi monarch assured that initial funding had been allocated for these benefits, with ongoing work to finalize the details. President Marcos also congratulated Saudi Arabia for hosting the historic Asean-Gulf Cooperation Council (GCC) Summit, noting its significant global impact in promoting international peace and security. Prince Mohammed expressed his intention to visit the Philippines, which was welcomed affirmatively by the President, who formally extended an invitation to the Crown Prince to

SC...

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Instead, the Court said, they should use “longer passwords containing numbers, symbols, and both uppercase and lowercase letters; to avoid the same password for multiple accounts; to consider passphrases or a sequence of random words instead of passwords; to use a password manager; and to enable a multifactor authentication system in their accounts.” Passwords, according to the Court, should never be shared with others, , even with those who claim to be from trusted institutions, and to make sure that any written passwords are stored in a secure place. Court personnel were also directed to ensure that the operating systems of their devices such as laptops, desktops, smartphones, tablets, and other electronic devices are up to date. The guidelines include a step-by-step guide on how to check for system updates for both Windows and Apple/Mac users and a list of free third-party anti-virus applications that may be downloaded and installed by

court personnel in their devices. Th e Co u r t a l s o s u g g e s te d t h at court officials and personnel adopt the “-32-1 backup rule” to ensure data redundancy and availability in case of hardware failure, data corruption, or other catastrophes. Under the “3-2-1 backup rule,” users must maintain three separate copies of their data (original in their primary device and two additional copies in different locations of media); two backup media/formats (i.e., one copy in an external drive and another in cloud storage); and one offsite backup, or a physical location different from both the primary data and its backup. On safe internet usage and device security, the Court instructed court officials and personnel to download files and software only from reputable sources and utilize only secure and judiciary-approved file-sharing platforms for work-related activities. Chief Justice Alexander Gesmundo is on official travel abroad. Joel R. San Juan

Biz groups...

Continued from A12

“The Philippine economy is at a crucial juncture as the effect of the pandemic eases and the global economy heads towards a more volatile situation brought about by geo-political tensions, changing trade and investment patterns and demands, and the advent of the Fourth Industrial Revolution,” PCCI, ECOP, and Philexport penned in their letter to the president. Considering these challenges, the three business groups have called for the speedy resolution of what they consider as another “demolition” job to stop the Secretary from pursuing the needed reforms in the transportation sector that is “very critical” in and for the country’s supply and value chain. According to an earlier story published by the BusinessMirror, Bautista filed on Tuesday

a cyber libel complaint against Manibela president Mar Valbuena and motoring journalist Ira Panganiban in relation to the corruption allegations lodged against the agency. Bautista filed the case before the Department of Justice (DOJ), citing violations against Article 355 in relation to Article 353 of the Revised Penal Code of the Republic Act 10175 or CyberCrime Prevention Act. In an interview later with reporters, Bautista said Valbuena and co-accused Panganiban allegedly uttered and posted false accusations implicating him in the alleged multimillion-peso bribe schemes for securing approval of Land Transportation and Franchising Regulatory Board (LTFRB) franchises, especially for modern jeepneys.

A BusinessMirror Special Feature

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Monday, October 23, 2023 A3

CONDO LIVING IS GOOD IN QUEZON CITY

New San Jose Builders, Inc. highlights the perks of condo living in QC

Victoria Arts and Theater Tower | ARTIST’S PERSPECTIVE

Victoria Sports Tower | ARTIST’S PERSPECTIVE

By Candy P. Dalizon Contributor What is it like to live in Quezon City?

UEZON City is a city with endless possibilities. You can go anywhere and do anything you want. As the largest city in Metro Manila and the most populous city in the Philippines, Quezon City is a thriving, bustling, and dynamic urban hub with a vibrant history and diverse culture. Living in Quezon City is a good option for people who work in the metro area because it is a well-connected city with excellent transportation options that make it easy to get around. With several transportation services, major highways and expressways, you can go almost anywhere in Luzon. It is also home to many businesses and government offices, so you do not have to travel far for work. Quezon City, fondly called as the City of Stars, has a variety of amenities, such as schools, hospitals, and shopping malls. The city is also the best place for foodies, for those who love regular nights out, and for families and or individuals who want to bask in the beauty of nature. Some of the city’s must-visit parks are Quezon Memorial Circle, UP Sunken Garden, and Ninoy Aquino Parks and Wildlife. When you think about living in Quezon City, you think about having the best of everything. Since it is among the busiest districts alongside Makati City, people are interested in looking for a place to stay. Condominium buildings are continuously growing in Quezon City, but are they affordable? While there are some real estate projects in the city that are quite expensive, there are also others that are of high quality and won’t break the bank. Take a closer look at some of the condominium projects of New San Jose Builders, Inc. (NSJBI) that are sure to meet your needs.

NSJBI: Making homeownership a reality for every Filipino family Established in 1986, NSJBI is one of the first and largest real estate developers and construction companies in the

Philippines. NSJBI is a trusted name in the real estate industry because of its proven track record of success and its commitment to making homeownership a reality for every Filipino family. The company builds homes that are both affordable and well-built, with features that Filipino families need and appreciate. NSJBI is a full-range property developer of quality projects — from high-rise mixed-use condominiums to prime subdivisions, hotels, offices, and malls. Its projects have transformed and elevated the living landscape of Metro Manila, such as in Manila, Quezon City, Caloocan City, Makati City, and Bonifacio Global City. NSJBI pioneered the sports tower condominiums to promote healthy and active city living. Among its sportsinspired residential condominiums is Victoria Sports Tower in Quezon City. Aside from Victoria Sports Tower, three other condominium projects of NSJBI in Quezon City are ready for occupancy namely Victoria Station, Victoria de Morato, and Victoria Towers. Soon to rise in Quezon City is Victoria Arts and Theater tower, featuring elegant and magnificent homes and amenities.

Soon to rise: Victoria Arts and Theater Tower

If you are into arts and theater, you would be delighted to know that there is a place you can call your home dedicated to your own passion and interests. Soon to rise in Timog Avenue, Quezon City is another first from NSJBI,

Victoria de Morato | ARTIST’S PERSPECTIVE

the Victoria Arts and Theater Tower, a grand 62-storey condominium tower which can serve as a new hub for creative minds as well as for people who simply appreciate art. Its facade is a timeless beaux-arts architecture, while the balconies in the lobby area add a touch of European elegance. Victoria Arts and Theater Tower will have everything you need to live your best life and that includes a hotel with a grand ballroom and pre-function area, residential condominium, an indoor swimming pool, fitness gym, and multi-purpose hall. It features an avant-garde mini theater and auditorium where family and friends can bond and enjoy a one-of-a-kind experience. The condominium’s already impressive amenities will be topped off by the addition of an executive lounge and helipad. This place has it all: world-class dining, relaxation and entertainment facilities, and a cozy and inviting setting that you'll love to call home. Like the other NSJBI condominiums, Victoria Arts Tower and Theater Tower has easy access to hospitals, churches, colleges and universities, malls and restaurants, businesses, government offices, and MRT stations. Since the property is in its pre-selling stage, buyers have the opportunity to choose the unit that best suits their needs and preferences.

Victoria Sports Tower

Imagine coming home to a place where you can relax and recharge after a long day, where you can unwind, or play your favorite sports. You may be busy, but you still need physical activity to stay healthy. Located in EDSA, Brgy. South Triangle, Quezon City, Victoria Sports Tower is the first ever condominium in the country with a sports complex. It offers a complete living experience beyond just a place to stay. Victoria Sports Tower is designed to have enough space for all kinds of sports and wellness activities, making your life more enjoyable while staying fit and healthy. This haven for fitness includes an expansive main gym with topnotch and state-of-the-art fitness equipment; eight private gym rooms equipped with private shower, jacuzzis, exercise equipment, and

Victoria Towers | ACTUAL PHOTO

home theater; movie house with LaZ-Boy recliners; three-lane 50-meter indoor lap pool, a water spa, and children’s swimming pool; a jogging trail and several other recreational and sporting facilities; spacious lockers, showers, and changing rooms; club lounge and function rooms; sports bar and restaurants with billiards and dart; and professional-grade indoor basketball, volleyball, badminton, tennis, and table tennis courts, MMA ring, boxing ring, and bowling alley. Victoria Sports Tower is also home to VS Hotel, Victoria Skin, and Manuel L. Quezon University (MLQU). VS Hotel is a great place for both business and leisure travelers, with its convenient location near attractions and restaurants. On the other hand, Victoria Skin has the newest and most advanced laser, aesthetic, and dermatology technology. Initially, MLQU opened the School for Professional Advancement and Continuing Education (SPACE) inside the condominium, signaling the university's entry to the roster of reputable academic institutions in the city. The university officially moved from Quiapo to Victoria Sports Tower on August 19, 2016, dubbed "Manuel is Home in Quezon City". Victoria Sports Tower is steps away from the GMA-Kamuning MRT station and near government offices namely Land Transportation Office (LTO), Land Transportation Franchising and Regulatory Board (LTFRB), Social Security System (SSS), and Philippine Statistics Authority (PSA). The following hospitals are likewise near Victoria Sports Tower - Lung Center, Philippine Heart Center, NKTI, and East Avenue Medical Center. When you need to shop, you can go to SM North EDSA, TriNoma, or Gateway Mall.

Victoria de Morato

Quezon City is a great place to live if you want to achieve a good work-life balance as it makes it easy for most people to get to work or meet up with friends and family. Whether you're looking for a place to have a romantic dinner after work, a casual meal with friends, or a quick bite, you will surely find something to your liking on Tomas Morato Avenue. Victoria de Morato is located along Scout Borromeo Street, corner Tomas Morato which is known as a popular nightlife district in Quezon

Victoria Station | ARTIST’S PERSPECTIVE

City with a wide variety of trendy restaurants and bars. The area is also home to the two biggest media and entertainment networks, ABS-CBN and GMA Network. It is also near well-known event venues, shopping centers, top universities, and hospitals like Philippine Heart Center and Capitol Medical Center. Victoria de Morato offers a celebrity living experience without the premium price. Condo units are spacious for residents to live comfortably and move around freely. The condominium has luxurious features and amenities such as a swimming pool, a multi-purpose hall, and a viewing deck that allows unit owners to relax and enjoy the view of Manila Bay during sunsets.

the bliss of being in a more strategic location with its direct access to GMAMRT Kamuning station. Located in EDSA, Diliman, Quezon City, Victoria Station is a transit-oriented condominium in the heart of Quezon City. Its amenities include a gym, a swimming pool, spa, and multipurpose area. Being close to schools, hospitals, shopping centers, restaurants, churches, businesses, and government offices makes Victoria Station a worthwhile investment. Commercial establishments such as convenience stores, retail and service-oriented shops, and other businesses are located at the Upper Ground Floor of Victoria Station.

Victoria Towers

New San Jose Builders has many years of experience and expertise in building high-quality, affordable homes for Filipino families. NSJBI is one of the few select Quadruple 'A' rated construction companies in the country with an impressive portfolio in building service and recreational facilities, transport infrastructures, sustainable townships, and prime residential developments. It was recently recognized as one of the Top 10 Developers in the Philippines by BCI Asia Philippines, Inc. NSJBI also promotes heritage, culture preservation, and Filipino artistry and craftsmanship through its premier development, the Las Casas Filipinas De Acuzar situated in Bagac, Bataan. Las Casas Filipinas de Acuzar takes pride in being the largest heritage resort in the country. The resort is situated in Bagac, Bataan and over the years, it has been restoring and preserving 18th century Spanish-Filipino houses in the country, most of which were saved from total ruin and deterioration. There is also a Las Casas in Roosevelt, Quezon City for a closer Las Casas heritage experience for those living in Metro Manila. New San Jose Builders is also the partner developer of the Philippine Arena, the largest indoor arena in the world which has a seating capacity of 55,000 people. For more information about these condominiums and other NSJBI projects, call 09178002206 or visit the New San Jose Builders’ website www. nsjbi.com.ph and official Facebook page @newsanjoseofficial for updates.

Move into your own home at Victoria Towers, within walking distance of Quezon Avenue and West Avenue, and enjoy the convenience of having everything you need nearby. Victoria Towers is very near to two MRT stations - Quezon Avenue and GMAKamuning. This makes it easier for residents to shop in nearby malls such as Eton Centris, SM City North EDSA, SM Annex, TriNoma, II Terrazzo, Waltermart North EDSA, Fisher Mall, and S&R Congressional. Victoria Towers is located at the corner of Timog Avenue and Panay Avenue in Quezon City. The tri-towers (A, B, & C) stand over a podium with retail spaces and amenities. Victoria Tower D is an extension of the main project and is located along Mother Ignacia Street. There is a hallway for residents in Tower D to access the tri-tower’s lobby and commercial establishments, which include convenience stores, retail and service-oriented shops, and other businesses. Hospitals like Capitol Medical Center, East Avenue Medical Center, St. Luke’s Medical Center (QC), Lung Center, and Philippine Heart Center are close by, so going to the hospital is not a problem. It is also easy going to government offices such as Land Transportation Office (LTO) Main, Bureau of Internal Revenue (QC), Social Security System (QC), and Quezon City Hall as these are within the area. Colleges and churches are also very accessible, such as St. Mary’s College Quezon City and Saint Paul the Apostle Parish Church.

Victoria Station

Most people now dream of living near a train station because of heavy traffic and rising fuel prices. Victoria Station condominium tower lets you enjoy

About New San Jose Builders, Inc.

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Monday, October 23, 2023

DENR to mobilize 200+ monitoring units in airports, seaports vs wildlife trafficking By Jonathan L. Mayuga @jonlmayuga

OOSTING its campaign against wildlife trafficking, the Department of Environment and Natural Resources (DENR) is planning to deploy more than 200 Wildlife Traffic Monitoring Units in 36 airports and 131 seaports across the country. At the same time, DENR chief Maria Antonia Yulo-Loyzaga revealed that around 700 Wildlife Enforcement Officers will be trained to help combat wildlife trafficking. This, as the environment secretary vowed to turn the National Wildlife

Rescue and Research Center (NWRRC) into a world-class facility and bolster its capability to protect and rehabilitate rescued wildlife. “We will enhance, upgrade, and redesign the [NWRRC], so it can be brought up to global standards,” Loyzaga said. Situated inside the Ninoy Aquino Parks and Wildlife Rescue Center (NAPWRC) in Quezon City, the NWRRC is a unit of the DENR under the Biodiversity Management Bureau (BMB). According to Loyzaga, an advisory group of biodiversity experts will be formed for NWRRC’s enhancement

as part of an overall program to augment the country’s capacity in conserving and protecting wildlife species, including their habitats, as well as fighting illegal wildlife trade and other wildlife crimes. “This is very important, because the Philippines is one of the mega biodiverse countries in the world,” the secretary said. “We are a hotspot and therefore, we must make very good use of our protection and enhancement capabilities to stop illegal wildlife trade and all other wildlife crimes.” According to the BMB, the Philippines is considered an illegal wildlife trade hub and a source-country of

Despite ban, study finds leaded paints still sold in local markets

ROUPS advocating for a toxic-free environment are pushing for a more stringent implementation of the ban on lead in paints, as they also push for improved compliance monitoring and similar measures across the archipelago. Despite the notable progress in banning lead in paint manufacturing, a new study found lead in some solvent-based decorative and industrial paints on sale in the country, the group said, citing a recent study. The study jointly conducted by the EcoWaste Coalition and the International Pollutants Elimination Network (IPEN) highlights the importance of improved compliance monitoring and other regulatory measures to completely rid the local marketplace of the said dangerous products. The study was released in time for the 11th International Lead Poisoning Prevention Week from October 22 to 28 themed: “End Childhood Lead Poisoning.” The manufacture, importation, and sale of paint with lead levels above 90 parts per million (ppm) is prohibited under the

Chemical Control Order promulgated by the Department of Environment and Natural Resources (DENR) in 2013. Following a transition period, lead-containing decorative and industrial paints were phased out in December 2016 and December 2019, respectively. With the Philippine Paint and Coatings Association (PPCA, formerly known as the Philippine Association of Paint Manufacturers) at the helm, affiliated companies completed the switch to non-lead paint production. “Despite the successful switch to nonlead substitutes by PPCA and most nonPPCA member-companies, we continue to find lead-containing paints on store shelves and in online shopping platforms,” noted Manny Calonzo, who is a campaigner of the EcoWaste Coalition. “While the number of local companies still selling such paints has dropped to three, the importation and sale of leaded spray paints often without manufacturers’ markings continued unabated.” According to Calonzo, the study results provide a strong justification to strengthen

compliance monitoring and enforcement mechanisms to ensure adherence to the national lead paint ban. “Lead paint today remains a major source of childhood lead exposure, and no known threshold levels of lead are considered safe,” said Jeiel Guarino, who is IPEN’s Global Lead Paint Elimination campaigner. “Safer and cost-effective alternatives to lead are now widely available for all paints, including industrial [ones].” Environmental health specialist Dr. Geminn Louis Apostol from the Ateneo School of Medicine and Public Health explained: “While lead is also harmful to adults, babies and kids are most susceptible to the adverse effects of lead exposure. Young children are particularly vulnerable to the toxic effects of lead, with the developing brain and nervous [systems as the critical targets], causing lower intelligence quotient [IQ], attention deficit disorder, and behavioral problems.” Dr. Apostol added that children can be affected by ingesting dust or soil containing

wildlife and wildlife byproducts such as pangolins and marine turtles. It is also a destination of trades such as parrots kept as pets. In 2020, the NWRRC obtained new ultrasound and X-ray machines that will aid the center’s veterinarians and staff diagnose diseases, injuries, and conditions of wildlife and exotic animals in their care. The United States Agency for International Development donated the equipment under its “Project Wildlife” program in the country. The NWRRC has been instrumental in retrieving, rescuing, and providing shelter to abandoned wildlife and exotic animals—including those illegally trafficked and traded. Its mandate includes the care and rehabilitation of rescued wildlife species that often arrive stressed, traumatized, sick, or injured.

lead that gets into their hands, ingesting paint chips with lead, and biting or chewing on objects like toys and furniture containing lead. To protect children and other vulnerable groups like workers and women of reproductive age against the harmful effects of lead exposure, both the EcoWaste Coalition and IPEN have expressed support for regulatory measures that will deter infringement of the country’s lead paint ban—including enhanced monitoring, tightened customs checks, stiffer fines and penalties for non-compliance, and global control on trade in lead chromates and in paints containing them. From May to July 2023, the EcoWaste Coalition purchased a total of 46 cans of solvent-based paints representing 27 brands produced by 22 manufacturers from various retail stores and online dealers in the Philippines. These included 17 industrial paints, 14 spray paints, nine decorative paints, and six anti-corrosive paints. Samples from these paints were analyzed by an accredited laboratory in the United States for total lead content. Jonathan L. Mayuga

Bong Go aids displaced Boholano workers, wants more income opportunities for struggling Filipinos

EN. Christopher “Bong” Go, in coordination with the local government of Pilar, Bohol led by Mayor Wilson Pajo, provided help to displaced local workers on October 18. A total of 210 affected individuals gathered at the Poblacion Gym, where Go’s team distributed snacks, shirts, and balls for basketball and volleyball. The beneficiaries also qualified for livelihood support from the Department of Labor and Employment (DOLE) through its temporary employment program. The senator called for collective action to improve the status of “disadvantaged [and] displaced workers” for the common goal of creating a more comfortable and stable society for all Filipinos. Likewise, Go emphasized the importance of protecting the well-being of marginalized workers—particularly those residing in rural areas and in dire need of increased economic prospects. For this reason, he has introduced Senate Bill 420, which aims to establish a system for providing short-term employment to eligible individuals from disadvantaged households in rural areas. Within the framework of this proposed law, a Rural Employment Assistance Program (REAP) would be created under DOLE. REAP’s main objective is to offer temporary job opportunities to individuals who meet the criteria for being poor, impoverished, displaced, or seasonally employed.

‘Malasakit’ for the province

AS chairperson of the Senate Committee on Health and Demography, Go also championed the services offered by the “Malasakit Centers” inside the Governor Celestino Gallares Memorial Hospital in Tagbilaran City, and at Don Emilio Del Valle Memorial Hospital in the municipality of Ubay. Republic Act 11463 or the “Malasakit Centers Act of 2019” principally authored and sponsored by Go mandates all Department of Health (DOH)-run hospitals and the Philippine General Hospital in the City of Manila to establish their own centers to provide convenient access to medical assistance programs offered by the government.

Go explained that the target of Malasakit Centers is to cover medical billings. He encouraged everyone to visit the centers. They now number 159 across the Philippines and are ready to serve Filipinos. He also mentioned that a “Super Health Center” is set to be established across the province of Bohol. It will offer a range of health-care services, including database management, out-patient services, birthing, isolation, diagnostic laboratory for X-rays and ultrasound, pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation centers, and telemedicine, through which remote diagnosis and treatment of patients are made possible. Through the collective efforts of fellow lawmakers, local government units and DOH, sufficient funds have been allocated for 307 Super Health Centers in 2022, and 322 in 2023. DOH, as the lead implementing agency, identifies the strategic areas where they will be constructed. In Bohol, necessary funds have been allocated to construct Super Health Centers in Buenavista, Candijay, Dauis, Sagbayan, Talibon, Antequera, Balilihan, Bien Unido, Carmen, Panglao, Tagbilaran City, and Ubay. Lastly, Go cited the enactment of RA 11959, or the “Regional Specialty Centers Act,” which he principally sponsored, and is one of the authors in the Senate. The law mandates the establishment of the said centers within existing DOH Regional Hospitals. It stands as a testament, he said, to the government’s commitment to uplift the nation’s health infrastructure, and bring actual medical services closer to the Filipino people. Go also principally sponsored the passage of RA 11883, which converted the GCGMH into the Governor Celestino Gallares Multi-Specialty Medical Complex. As vice chairperson of the Senate Committee on Finance, Go likewise supported the construction of multipurpose buildings in Alicia, Anda, Balilihan, Batuan, Buenavista, Danao, Dimiao, Duero, Garcia Hernandez, Guindulman, Loay, Loon and Valencia to help contribute to the province’s progress and improved connectivity. He was also instrumental in the improvement of evacuation centers in Panglao, Anda, Balilihan, Carmen, Corella, Garcia-Hernandez, and Valencia; installation of a water system in the Municipality of Pres. Carlos P. Garcia; construction of the municipal slaughterhouse in Inabanga; as well as the acquisition and installation of solar-powered street lights in Getafe. Last October 16, more displaced workers in Carmen and Batuan towns also received assistance from Go.

Monday, October 23, 2023

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

Amid legislative break, Lower House committee to seek beneficial measures for returning OFWs By Jovee Marie N. Dela Cruz @joveemarie

HE House Committee on Overseas Workers Affairs will be conducting public consultations and hearings to discuss measures supporting the government’s programs for overseas Filipino workers (OFWs)—including their pension system and reskilling. Kabayan Partylist Rep. Ron S. Salo, who chairs the committee, said he received instructions from

House Speaker Ferdinand Martin G. Romualdez for his panel to continue working during the monthlong “ legislative break,” and act on pending bills that aim to benefit the welfare of OFWs. Salo emphasized the directive’s relevance, in consideration of the ongoi ng I sr ae l- H a m a s con f l ic t , and the repatriation of Filipinos working in the affected areas of the Middle East. The lawmaker explained that the committee will explore potential

legislative measures to safeguard affected Filipino laborers and facilitate their seamless reintegration into Philippine society, which is aligned with the current administration’s overarching vision for the well-being of overseas Filipinos. “We will begin by conducting a briefing with the relevant government agencies such as the Department of Migrant Workers, Overseas Workers Welfare Administration, Department of Foreign Affairs, and Technical Education and Skills Development

Authority [Tesda], among others, on the existing government assistance to OFWs,” Salo shared. “From there, we will formulate additional policies and make existing ones more efficient and effective.” One possible proposal to focus on, he said, is a pension system for OFWs that will be jointly paid for by their employers and the workers themselves, as well as retraining in Tesda and through other similar programs of the government. “I consider a pension system for

OFWs as a lasting solution to [their] main concerns and needs,” Salo explained. “This will provide income security and additional social protection for [them].” “As [our heroes in] modern times, our OFWs deserve more from their government. As such, we will also be looking at legislation that will extend financial aid and scholarship programs for their dependents and…families,” the Kabayan Partylist representative said. “We will do our best to pass more

legislation that w ill benefit our OFWs…The leadership of Speaker Romualdez is committed to making this happen to support the Marcos Jr. administration’s efforts in helping our OFWs,” Salo said. The House of Representatives is currently on a month-long legislative break, which commenced on September 28 and is scheduled to resume sessions on November 6. During this period, Romualdez has granted standing committees the authority to conduct hearings.

PBBM, crown prince discuss Domestic travelers can help market PHL abroad–analyst PHL-Kuwait revival of ties By Ma. Stella F. Arnaldo

HE Philippines and Kuwait have started the resumption of negotiations aimed at normalizing their bilateral relations. In a statement, President Ferdinand R. Marcos Jr. expressed his gratitude to Crown Prince Sheikh Meshal for the latter’s openness to restart the Philippines and the State of Kuwait’s cooperation, which went underway with an initial meeting of the two countries’ foreign ministers. In the same statement, the Department of Foreign Affairs (DFA) said the initial meeting between both countries’ foreign ministers centered on Marcos Jr.’s pledge to safeguard the welfare and rights of overseas Filipino workers (OFWs). The two leaders’ meeting underscored the importance of protecting the said laborers, as emphasized by the President. According to the DFA, the ministerial meeting reflected the outcomes of the President’s bilateral discussion with the Kuwaiti crown prince in Saudi Arabia during the AseanGulf Cooperation Council (GCC) Summit. During the conversation, both leaders reaffirmed their dedication to collaborating and resolving outstanding issues, the department said. The DFA revealed that the Kuwaiti crown prince personally requested a brief and informal meeting with the Chief Executive after the summit, with the former informing Marcos Jr. of his country’s urgent desire to normalize linkages with the Philippines. The state’s leader apologized to and told Marcos Jr. that the “narrow-mindedness of some of the Kuwaiti officials” caused the breakdown of the negotiations between their countries’ delegations last May. The Foreign Affairs department relayed that Sheikh Meshal expressed his highest respect for the Philippines and for the president’s father Ferdinand E. Marcos Sr., who extended help to Kuwait before. In a media interview in Riyadh, the President said that the resolution of the country’s disagreement with Kuwait is one of the successes of his trip to Saudi Arabia

@akosistellaBM Special to the BusinessMirror

to attend the Asean-GCC Summit. Marcos Jr. affirmed that the sheikh apologized to him, and vowed to fix its relations with the Philippines, as the latter noted the country’s importance to Kuwait. The Philippine government temporarily banned the deployment of first-time household-service workers to Kuwait amid concerns for their safety, following the deaths of some OFWs. Kuwait also imposed travel restrictions on them. According to available government data, the estimated number of Filipinos in Kuwait as of 2022 is 279,000. OFW remittances from Kuwait reached $576,059 in 2021 and $579,186 last year.

‘Hope for restoration’

MEANWHILE, House Speaker Ferdinand Martin G. Romualdez noted the “brief but promising” meeting between Marcos Jr. and Crown Prince Sheikh Meshal. “[Their] encounter brings hope for the restoration of diplomatic relations between our two nations, which had previously been strained due to labor issues and the need to protect the welfare of OFWs,” Romualdez said. According to the president, the Kuwaiti monarch was displeased with the present state of their countries’ relationship, and that the Philippines need not issue an apology. Instead, the Chief Executive said it was the crown prince who expressed regrets for what some of his people are doing. The Gulf State banned the issuance of entry and work visas to OFWs due to the Philippines’s supposed non-compliance with the labor pact between the two countries. On the other hand, the Philippine government temporarily disallowed the deployment of first-time household service workers to Kuwait following the killing of Jullebee Ranara, whose burnt corpse was found in the desert. In 2018, the previous administration imposed a temporary deployment stoppage after the murder of household worker Joan Demafelis. Jovee Marie N. Dela Cruz

DBM green-lights government’s campaign combating hunger

HE Department of Budget and Management (DBM) has approved the Department of Social Welfare and Development’s (DSWD) budgetary requirements for the expanded implementation of the “ Walang Gutom 2027” program—a flagship initiative of the Marcos Jr. administration for the upcoming year. DSWD’s undersecretary for Innovations Eduardo Punay revealed that the program will require a budget of P6 billion for 2024, according to a statement released by Malacañang. “Our projected budget for next year is for the second half of our implementation, because the pilot phase is about to end,” the undersecretary said. “We will review in May and June...then start the implementation in July for the 300,000 [household beneficiaries]-scale-up, which will require a budget of P6 billion for next year.” He mentioned that the DBM has assured the provision of the necessary financial resources for the program, then said that such will be implemented next year by way of Executive Order (EO) 44, which enacted the

“Walang Gutom 2027: Food Stamp Program.” Punay said the DSWD is set to conduct the full-scale pilot implementation of the program by December of this year. The DSWD official added that the initial focus is on 3,000 families in five pilot locations, including households in Tondo, City of Manila; Dapa, Siargao; San Mariano, Isabela; Garchitorena, Camarines Sur; and Parang, Maguindanao. Punay also explained that the pilot sites were identified in collaboration with the United Nations World Food Programme, and are currently being funded by $3 million from the Asian Development Bank. He shared that the DSWD’s goal is to fully implement the program, targeting 1 million food-insecure households across the nation. In the coming year, Punay said that with the scaling-up phase, the program aims to benefit 300,000 beneficiaries starting in the middle of the year. Part of EO 44 includes provisions for the budget, which will be institutionalized, ensuring a budget allocation under the General Appropriations Act. Jovee Marie N. Dela Cruz

HE hospitality industry can help leverage on the Philippines’s attractiveness as a tourism destination by focusing on domestic travelers. Veteran economic analyst Jonathan Ravelas told the BusinessMirror that local tourism is still the key in boosting marketing to international tourists. “Domestic tourism provides a ‘window’ of the places to go,” said Ravelas. “Once [domestic travelers] share on social media, the rest—international tourists—will follow. They follow the domestic lead, whether these be cultural or activity-based tourism.” But marketing alone, for him— whether through traditional promotion efforts or social media boosting—will not bring in international tourists: “We need to improve our act. We have good ‘hardware’ [such as tourist spots], but we need to improve our ‘software’ [or services]; we need to elevate this along with infrastructure spending.” At the recent Hotel Sales and Marketing Association (HSMA) summit dubbed “Elevate the Game: Taking the Lead to Global Competitiveness,” Ravelas—now managing director or eManagement for Business and Marketing Services—said the hospitality sector can continue its recovery by boosting their social-media engagements, employing artificial intelligence (AI), and creating personalized services for guests.

Cultural diversity: PHL’s unique selling point FOR instance, Ravelas said establishments can improve their “social listening” by “adopting AI to analyze social

media comments, posts, and messages to understand their customers better in real time.” At a panel discussion at the same summit, hoteliers said it was time to market under-the-radar destinations in the country, and put the Philippines’s diverse culture at the forefront of marketing. Bobby Horrigan, who is the founder and CEO of Horrigan Hospitality Services Inc. said, for one, the cuisine is among the country’s unique selling points: “When you go to one country, for instance, it’s all spicy,” he noted. But Filipino food has a diverse and unique flavor profile for Horrigan. “It’s just that it’s not properly marketed.” For Bruce Winton, multi-property vice president-Philippines of Marriott International, the “physical beauty” of the Philippines is its unique selling point, and underscored the need to push “unexplored destinations, and make them more accessible. We need better infrastructure, and a broader distribution of quality lodging and dining in those destinations.”

Invest in infra, digital marketing IN terms of branding, Peggy Angeles, executive vice president of SM Hotels and Conventions Corp., said Filipinos are tops when it comes to hospitality: “[We] are generally hospitable and gracious, that’s why we are sought after not just in the hotel sector. We speak well, we understand well, [and] we smile.” She however said that beyond the hospitality aspect, “We still lack taking charge, the empowerment, [and] anticipating the needs of guests,” then pointed out that the country continues to “lag behind” in terms of connectivity, as well as transportation facilities like airports, to name a few. Asked to summarize in one word

what hotel managers want their sales and marketing directors to focus on to improve hotel revenue in 2024, James Montenegro, country manager of Chroma Hospitality, said: “Saturation. Whether these are international or regional markets, saturate those markets to ensure that we are back and front of our customers, so that people remember the Philippines, our hotels, and where we are.” For his part, Philip Barnes, country

general manager of The Ascott Limited Phils., wants them to “invest. Invest in the team, in third-party [training programs, to] get the skills set higher up. [Also], continue to invest in digital marketing and push…because that is where you will find, in three to five years, your customer profile.” The HSMA is the premier organization of hotel sales and marketing professionals in the country, with over 140 members nationwide.

Monday, October 23, 2023

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

Subdivision survey makes CARP beneficiaries insecure, distrustful S

Sen. Villar cites co-ops’ role in boosting local economy devt

By Cai U. Ordinario @caiordinario

HE conduct of a subdivision survey made farmerbeneficiaries of the Comprehensive Agrarian Reform Program (CARP) less secure in their land tenure, eroded their trust in the government, reduced their life satisfaction, and caused them greater anxiety.

This was based on a study conducted by the World Bank’s East Asia and Pacific Gender Innovation Lab (EAPGIL) among Agrarian Reform Beneficiaries (ARBs). The subdivision survey demarcated the exact boundaries of each individual plot in the collective landholding and conducted the registration and distribution of individual title documents. “[The] impact evaluation results showed that on average the subdivision survey—an intermediate stage of the parcelization process—reduced ARBs’ tenure security and trust in government, reduced their life satisfaction, and increased their anxiety,” the study stated. However, the study showed that tenure security decreased on average and the likelihood of leasing out the land increased after the subdivision survey. The World Bank said this may have possibly been due to the

clarity regarding the area that can be leased or to increase cash flow to make amortization payments, as described below. The study also said that with the New Agrarian Emancipation Act signed into law in July 2023, which condoned principal payments, interests, and penalties on land that ARBs are currently tilling, improved the security of those on compensable lands. “Until the New Agrarian Emancipation Act was signed into law in July 2023, recipients of CARPawarded lands that were formerly privately held were required to make payments to the Land Bank of the Philippines [LBP] to compensate the former landowners,” the study stated. “Legally, ARBs could lose their land if they did not make the required amortization payments. However, this rarely occurred in practice, and numerous support services were available from the

DAR [Department of Agrarian Reform] for ARBs who struggle to make payments,” the study stated. The law also exempted ARBs from the payment of estate tax and granted ARBs who have paid their debts already priority access to credit facilities and support services. The study also showed farmers on compensable lands were more likely to lease the land they received and have less access to their parcels. The study showed 43 percent of ARBs in the sample were on LBPcompensable land, and amortization payments were required at the time of the study. “Declines in tenure security were concentrated among ARBs on compensable lands, and ARBs on compensable lands were much more likely to lease out their parcels,” the study stated. “While ARBs on compensable lands were less likely to make investments on their land after subdivision, those on non-compensable lands increased their investments in irrigation and sheds on their land after subdivision,” it added. The data also showed there were gender differences, particularly in leasing land and investing in the land they received under the CARP. The findings showed female ARBs were more likely to lease out their land and less likely to plan on investing in their land after the subdivision survey. These investments on land included planting new crops, building new structures, or expanding planted areas.

Male ARBs

THE data showed there was a

DA tests red onion seeds in Davao de Oro By Manuel T. Cayon @awimailbox

AVAO C I T Y—T he De partment of Agriculture tested the adaptability of red onions in the province of Davao de Oro, formerly Compostela Valley, in a move to spread out the production of this important spice in the kitchen, the price of which has skyrocketed several times beyond the reach of common households. The test planting was started on October 6 for Onion 68, Onion 88, Super Pinoy, Red Pinoy, Red Moon, and Red Dragon varieties in a demonstration area of 880 square meters in Barangay Batinao, New Bataan town. Each variety is planted to a

30-square-meter lot. The onions are expected for harvest in December. This test planting was actually the second attempt after the first test planting on May 4 failed due to the continued heavy rains in the test area in Barangay Pasian in Monkayo town. The second planting was undertaken by the Batinao Cabacungan Sto. Nino Irrigator’s Farmers Association (Bacasifia Inc. Four seed companies—t he RAMGO International Corp., Allied Botanical Corp., East-West Seed Co. and Pilipinas Kaneko Seeds Corp.—participated in the DA test planting in what the agency called a production derby. “ T he Depar tment of A g r iculture-RFO XI initiated this

project through its High-Value Crops Development Program, in partnership with the Provincial and Municipa l Gover nments, National Irrigation Administration, Department of Labor and Employment, and Seed Companies, designed to help with food security, poverty reduction, and long-term growth,” said DA XI Field Operation Division Chief Marie Ann Constantino. She said that “with soaring market prices for onions, we devised a plan to conduct a red bulb onion production derby in order to guarantee our food security and sufficiency.” “We also encourage you to think beyond food security but to have the sufficiency to compete on a global scale, as this could raise

higher likelihood that male ARBs plan certain types of investments including planting new crops. “Female ARBs have fewer agricultural assets and have tilled their parcels for less time than male ARBs, but also have relatively more education and are more likely to have non-agricultural income,” the study stated. The subdivision survey, the World Bank said, also reduced the decision-making power of the wives of male ARBs. It also reinforced “conservative gender norms.” More than half of the wives of male ARBs are less likely to say that their decision prevailed after a disagreement with their spouse over major decisions on the land. A fewer number of male ARBs also said both spouses can make decisions about agriculture. Over 4.9 million hectares of land were redistributed to over 2.8 million Filipino farmers under the CARP since its inception in 1988. Of these, almost half were awarded in the form of collective titles that did not provide beneficiaries with full individual property rights. EAPGIL, in partnership with Innovations for Poverty Action (IPA) and researchers from the University of Maryland and University of the Philippines Los Baños, carried out an experimental impact evaluation (IE) of the DAR’s Parcelization Program. The IE randomized 475 collective titles across 12 provinces into equal treatment and control groups after our baseline survey was completed in 2017. The follow up survey was conducted between November 2019 and February 2020, interviewed 641 ARBs across 324 titles. your standard of living,” she said. The result of the study will be the basis for the government procurement of red bulb onion seeds to be distributed to qualified farmers in the province. Assistant Provincial Agriculturist Ronald C. Sibayan said he hoped for the study’s success “as this would benefit the people of Davao de Oro.” “If this would be successful, the next step is to mass-produce the onions. The provincial government is open to this endeavor because this is one the priority of the governor to address the complaint of farmers,” he added. Executive Assistant Fr. Nick Consencino, representing Governor Dorothy P. Montejo-Gonzaga, said “This is one rare opportunity for us. Hopefully this would succeed. By December, let us return here to a harvest festival.”

The US is losing the race with Brazil for soybean dominance By Tarso Veloso Bloomberg

SEVENFOLD jump in Brazilian soybean shipments to China for next month highlights how the US is losing influence over one of the world’s most important agricultural markets. China, the biggest soybean importer globally, booked at least 95 cargoes of the crop from Brazil for now until the end of November. For next month, there are 52 vessels already scheduled, compared with seven for the same week last year, according to shipping agency Alphamar Agencia Maritima. In contrast, export sales of US soybeans for this season are down 40 percent from a year earlier. It’s a striking drop, considering the ideal timeframe for

American shipments usually starts in October to coincide with the harvest and continues for months. This year, that key window has narrowed to weeks. US soybean sales to other countries totaled $34 billion last year, making it the top agricultural export commodity. Drought and the hottest summer ever have shriveled the Mississippi River, which funnels barges of soybeans from the Midwest to Gulf Coast ports. Freight costs have soared, making US exports less competitive at a time when the harvest would typically make them cheaper relative to supplies from other countries. Brazil, meanwhile, still has stocks available from its record crop earlier this year, with shipments poised to beat estimates. The narrowing of the key window for US soybean exports is a sign that shipments

this season could further trail official estimates, underscoring how the nation is losing its global agricultural clout. Wheat, corn and soy surpluses were one a powerful tool of American statecraft. Now, as US exports wane, rival suppliers like Brazil are filling the void. “The US exporting window is not a months-long event and it will be competing with Brazilian offers all the way until early 2024,” said Victor Martins, Latin America risk manager at brokerage Amius Ltd. That suggests that Brazilian exports will likely be higher than the 97.5 million metric tons that the US Department of Agriculture forecast in October, while US exports should be reduced, Martins said. Meanwhile, US exports sales to China are the lowest level since 2019.

Brazilian prices have benefited from a weaker currency and falling premiums in the producing regions, keeping offers more competitive against the US until December, said Martins. That will start to change once Brazilian stocks are depleted and rains lift the Mississippi water levels, cutting freight costs and turning US beans cheaper. Freight costs in the US are trending lower after reaching a peak in September. There are early signs that Brazilian soybean stocks are being depleted before its harvest begins in February. Local processors are bidding for beans above export prices, which will drive Brazilian prices for delivery to China higher in relation to the US Gulf. That should ultimately mean fewer Brazilian supplies available for export, Martins said.

EN. Cynthia Villar hailed over the weekend the exemplary achievements of cooperatives in boosting local economic development. Addressing the opening of the Coopreneurs Avenue Bazaar 2023 in Vistamall, Taguig, Villar, chair of the Senate Agriculture committee, reminded: “No cash prize can ever sufficiently reward the very important accomplishments of cooperatives in improving people’s lives.” At the outset, Villar observed that the Coopreneurs Avenue Bazaar 2023 in Vistamall, Taguig. “showcases the entrepreneurial skills of residents of Taguig and nearby places.” She noted it was sponsored by Simbayanan ni Maria multi-purpose Cooperative, a parish-based cooperative led by Fr. Anton Pascual of Our Lady of the Holy Rosary Parish. The Simbayanan was a recipient of various awards like the Most Outstanding Cooperative in 2019 by the Cooperative Development Authority and the Gawad Parangal

Award 2019 Regional Outstanding Cooperative under the Large Billion Category Cooperative Development Authority. “It was also one of the winners in the 2015 Villar SIPAG Awards wherein P5 million in cash were given to 20 cooperatives in theirannual nationwide search for outstanding organizations and community enterprises which serve as models in mitigating the country’s poverty,” related Villar. The Villar SIPAG (Social Institute for Poverty Alleviation and Governance) was established by the Villar family to improve the living conditions of the poor and to give recognition to enterprises through the Villar SIPAG Awards on Poverty Reduction. “Through this initiative, Villar SIPAG is able to acknowledge the work of cooperatives in supplementing government efforts to fight poverty,” added Villar. She recalled that SIPAG Awards for Poverty Reduction was launched in August 2013. Butch Fernandez

‘AI, digital tools make agrifood systems climate-resilient’

O revolutionize the agrifood sector, farmers and consumers must harness the power of digital tools and provide better and safer access to innovation. These were the key calls to action from the “AI and Digital Tools for Climate Resilient Agrifood Systems” event held last Thursday at the Food and Agriculture Organization of the United Nations (FAO). Farmers are battling the increasing number of challenges brought on by the climate crisis: erratic weather patterns, shifting precipitation cycles, rising temperatures and extreme weather events, among them. With the end result being crop failures, reduced yields and decreased food security, smallholder farmers, in particular, need climate resilient solutions to secure and bolster their livelihoods. With the right access to technological tools, farmers can wield these advances for more efficient and resilient agriculture, revolutionizing traditional agricultural practices into sophisticated, data-driven systems. Modern agriculture must incorporate these important innovations to tackle challenges like climate change and dwindling natural resources. “A I [artificia l intel ligence] should be a tool for agrifood system transformation and rural development,” said FAO DirectorGeneral Qu Dongyu. Digital tools should be leveraged and designed with farmers in mind, he added. Moderated by FAO Chief Information Officer Dejan Jakovljevic, the panel was formed by Najat Mokhtar, Deputy DirectorGeneral and Head of the Department of Nuclear Sciences and Applications of the International Agency for Atomic Energy (IAEA) Vincent Martin, FAO Director of the Office of Innovation Alan Belward, Head of Food Security Unit at the European Commission Joint Research Centre Sebastian Bosse, Head of Interactive & Cognitive Systems Group at the Fraunhofer Heinrich Hertz Institute and Rikin Gandhi, Founder and Chief Executive Officer of Digital Green. The event, part of the Science and Innovation stream of the World Food Forum focused on highlighting concrete examples of technological innovations already modernizing and revolutionizing

agriculture. In his keynote speech, FAO Chief Economist Máximo Torrero, drew attention to some exciting examples of digital tools already developed by FAO. One of the most recent is a digital application dubbed FLAPP (the FAI Food LossApp), that enhances the ability to analyze where and why food losses happen, allowing for more targeted interventions in reducing wastage. Playing a short explanatory video, Torrero also pointed to the on-the-ground impact of one digital tool, called “Ugani Kiganjani,” for farmers in Tanzania. This mobile application, part of the FAO Digital Services Portfolio, provides farmers with weather forecasts and advisory services so that they can prepare the land or harvest accordingly. This app is helping farmers adapt to the variable weather patterns caused by climate change. IAEA’s Mokhtar highlighted the innovative use of cosmic ray neutron sensors as an agricultural solution. An area of work within the Joint FAO/IAEA Centre of Nuclear Techniques in Food and Agriculture, these sensors allow scientists to track neutrons in the atmosphere and determine how much water is already in the soil. This information offered to farmers can then guide them on when or when not to irrigate. All the speakers additionally highlighted the importance of responsible use and ethics of these tools and FAO’s Martin recalled the Organization’s signing of the Rome Call for AI Ethics, a document that supports a transparent, inclusive, responsible, impartial, reliable and secure approach to AI. All panelists agreed on the potential of AI and digital tools to address some of the many challenges posed by the climate crisis. There were, nonetheless, broad calls for caution in using these tools in an inclusive and responsible manner, recommending validation and quality assurance of AI outputs and stressing that unchecked use of these tools can create more bias, result in less inclusion or even widen the digital divide. The safe and ethical uses of digital tools and technological practices, on the other hand, are proving crucial for sound agrifood systems of the future.

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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 23, 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. 1

ESTABLISHMENT D.J.T.Y. TEXTILE CORPORATION Block 3, Lot 2, J.P. Rizal St. Corner E. Jacinto St., Rizal Technopark, San Juan, Taytay, Rizal

D.J.T.Y. TEXTILE CORPORATION Block 3, Lot 2, J.P. Rizal St. Corner E. Jacinto St., Rizal Technopark, San Juan, Taytay, Rizal

DYNAPAC AND MALINTA (PHILIPPINES) INC. L1, B20, Melchora Aquino St., Andres Bonifacio Ave., Lima Technology Centerspecial Economic Zone, San Lucas, City of Lipa, Batangas

JT INTERNATIONAL ASIA MANUFACTURING CORP. Lots 1-10, Block 4, Phase 3, Lima Technology Center, Santiago, Malvar, Batangas

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

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

CAI, JIABIN

Basic Qualification:

Chinese Speaking Quality Control

Computer literate and fluent in Mandarin language

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

Brief Job Description: Provide analysis in the maintenance, planning and program area while optimizing systems and/or structures maintainability, availability and safety

Salary Range:

HONG, ZHENXING

Basic Qualification:

Chinese Speaking Quality Control

Computer literate and fluent in Mandarin language

Php30,000 Php59,999

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

Brief Job Description: Provide analysis in the maintenance, planning and program area while optimizing systems and/or structures maintainability, availability and safety

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MAEDA, YASUSHI

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Japan Desk Manager

Must have proven track record in the development of new clients

Brief Job Description: Supervise the day-to-day sales and operations activities

Php30,000 Php59,999

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

Monday, October 23, 2023 TRIEU THI THAN

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Brief Job Description: Manage incoming calls and customer service inquiries

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VU MINH CHINH

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Chinese Customer Service

Able to speak, read and write Chinese language

BOITSOV, ILIA

Basic Qualification:

Electronic Team Lead

Must have at least 5 years’ experience on electronic field

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

Brief Job Description: Participate in developing and implementing measures, plans, and projects on technical training efficiency improvement within his/her functional scope

Salary Range:

LI, JIAJIA

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Php90,000 Php149,999

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

Manage incoming calls and customer service inquiries

Salary Range:

WANG, CHENGLONG

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Manage incoming calls and customer service inquiries

Salary Range:

MAI THI HUYEN TRANG

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Php30,000 Php59,999

Manage incoming calls and customer service inquiries

Salary Range:

XU, CHANGCHENG

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

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

Brief Job Description:

Manage incoming calls and customer service inquiries

Salary Range:

YAO, JUNSHUAI

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Salary Range:

Manage incoming calls and customer service inquiries

Salary Range:

JIANG, AN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

NGUYEN THI NHUNG

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range:

NGUYEN THI THAO NGUYEN

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Php30,000 Php59,999

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range:

NGUYEN VAN TUONG

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Php30,000 Php59,999

Brief Job Description:

ZAMA PRECISION INDUSTRY MANUFACTURING PHILIPPINES, INC. Lot 6, First Philippine Industrial Park II, Santa Anastacia, City of Sto. Tomas, Batangas

Salary Range: Php30,000 Php59,999 Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php30,000 Php59,999

MORIYA, SHO

Basic Qualification:

Production Manager

Must have relevant experience as Production Manager

Brief Job Description: Oversee the development and implementation of manufacturing processes to ensure cost efficiency production

Salary Range: Php150,000 Php499,999

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE Regional Office IV-A located at 3rd and 4th Floors, Andenson Building II, Parian, Calamba City, Laguna, within 30 days after this publication.

Please inform DOLE Regional Office IV-A if you have any information on criminal offense committed by the foreign nationals.

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Manage incoming calls and customer service inquiries

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NI NI WIN

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language

Php30,000 Php59,999

ATTY. MARION S. SEVILLA, LL.M. Assistant Regional Director

Brief Job Description: Manage incoming calls and customer service inquiries

Php30,000 Php59,999

NGUYEN VAN THANH

Manage incoming calls and customer service inquiries

Php30,000 Php59,999

Brief Job Description:

Manage incoming calls and customer service inquiries

Php30,000 Php59,999

Brief Job Description:

Manage incoming calls and customer service inquiries 17

Php30,000 Php59,999

Brief Job Description:

Php30,000 Php59,999

Brief Job Description:

Salary Range: Php150,000 Php499,999

Salary Range: Php30,000 Php59,999

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph

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Monday, October 23, 2023

Editor: Angel R. Calso

Israel strikes Gaza, Syria and West Bank; war against Hamas threatens to ignite other fronts By Najib Jobain, Samy Magdy & Joseph Krauss

The Associated Press

AFAH, Gaza Strip—Israeli warplanes struck targets across Gaza overnight and into Sunday, as well as two airports in Syria and a mosque in the occupied West Bank allegedly used by militants, as the twoweek-old war with Hamas threatened to spiral into a broader conflict.

In this photo provided by Egypt’s presidency media office, Egyptian President Abdel Fattah elSissi, right, greets Palestinian President Mahmoud Abbas, during the International peace summit at the New Administrative Capital, just outside Cairo, Egypt on Saturday, October 21, 2023. Egyptian Presidency Media Office via AP

Egypt and Jordan express growing anger over Israel’s actions in Gaza

Friends and relatives stand by the bodies of Palestinians killed in the Israeli bombardment of the Gaza Strip at Al-Aqsa Hospital in Deir AlBalah on Sunday, October 22, 2023.

By Samy Magdy

AP Photo/Hatem Moussa

The Associated Press

Israel has traded fire with Lebanon’s Hezbollah militant group on a near-daily basis since the war began, and tensions are soaring in the Israeli-occupied West Bank, where Israeli forces have battled militants in refugee camps and carried out two airstrikes in recent days. For days, Israel has seemed to be on the verge of launching a ground offensive in Gaza as part of its response to Hamas’ deadly October 7 rampage. Tanks and tens of thousands of troops have massed at the border, and Israeli leaders have spoken of an undefined next stage in operations. But the military acknowledges there are still hundreds of thousands of Palestinian civilians in northern Gaza despite a sweeping evacuation order, which would complicate any ground attack. And the risk of triggering a broader war with Hamas’ allies in Lebanon and Syria might also give them pause. On Saturday, 20 trucks of aid were allowed to enter Gaza from Egypt through the Rafah crossing, the first time anything has gone into the territory since Israel imposed a complete siege two weeks ago. Aid workers said it was far too little to address the spiraling humanitarian crisis in Gaza, where half the territory’s 2.3 million people have fled their homes. Hospitals packed with patients and displaced people are running low on medical supplies and fuel for generators, forcing doctors to perform surgeries with sewing needles, using kitchen vinegar as disinfectant, and without anesthesia. Palestinians sheltering in UN-run schools and tent camps are running low on food and drinking dirty water. The territory’s sole power plant shut down over a week ago, causing a territory-wide blackout and crippling water and sanitation systems. The UN humanitarian agency said cases of chicken pox, scabies and diarrhea are on the rise because of the lack of clean water.

Gaza’s Hamas-run Interior Ministry reported heavy Israeli airstrikes across the territory overnight into Sunday, including southern areas where Israel had told Palestinians to seek refuge. Late Saturday, an airstrike hit a cafe in the southern town of Khan Younis where displaced people had gathered to charge their phones. The nearby Nasser Hospital said 12 people were killed and 75 wounded. Israel’s military has said it is striking Hamas members and installations, but does not target civilians. Palestinian militants have continued daily rocket attacks, with Hamas saying it targeted Tel Aviv early Sunday. Israeli Prime Minister Benjamin Netanyahu convened his Cabinet late Saturday to discuss the expected ground invasion, Israeli media reported. A military spokesman, Rear Adm. Daniel Hagari, said Israel planned to step up airstrikes starting Saturday as preparation for the “next stages of the war.” An Israeli ground assault would likely lead to a dramatic escalation in casualties on both sides. More than 1,400 people in Israel have been killed in the war—mostly civilians slain during the initial Hamas attack. At least 210 people were captured and dragged back to Gaza, including men, women, children and older adults. Two Americans were released on Friday in what Hamas said was a humanitarian gesture. More than 4,300 people have been killed in Gaza, according to the Hamas-run Health Ministry. That includes the disputed toll from a hospital explosion. Syrian state media meanwhile reported that Israeli airstrikes have targeted the international airports in the capital, Damascus, and the northern city of Aleppo. It said the strikes killed one person and damaged the runways, putting them out of service. Israel has carried out several

strikes in Syria, including on the airports, since the war began. Israel rarely acknowledges individual strikes, but says it acts to prevent Hezbollah and other militant groups from bringing in arms from their patron, Iran, which also supports Hamas. In Lebanon, Hezbollah said six of its fighters were killed Saturday, and the group’s deputy leader, Sheikh Naim Kassem, warned that Israel would pay a high price if it starts a ground offensive in the Gaza Strip. Israel struck Hezbollah targets early Sunday in response to rocket fire, the military said. Israel also announced evacuation plans for another 14 communities near the border with Lebanon. K ir yat Shmona, w ith a popu lation of more than 20,000 people, was told to evacuate last week. In the occupied West Bank, dozens of Palestinians have been killed in clashes with Israeli troops, arrest raids and attacks by Jewish settlers. Israeli forces have closed crossings into the territory and checkpoints between cities, measures they say are aimed at preventing attacks. Israel has arrested hundreds of Palestinians since October 7, mainly suspected Hamas members. The internationally recognized Palestinian Authority administers parts of the West Bank and cooperates with Israel on security, but it is deeply unpopular and has been the target of violent Palestinian protests. Israeli forces killed at least five people early Sunday in the West Bank, according to the Palestinian Health Ministry. Two were killed in an airstrike on a mosque in the town of Jenin, which has seen heavy gunbattles between Palestinian militants and Israeli troops over the past year. T he Israeli mi litar y said the mosque compou nd belonged to Hamas and Islamic Jihad militants who had carried out several attacks in recent months and were planning another one.

Sunday’s fatalities brought the death toll in the West Bank to 90 Palestinians since the war broke out on October 7, according to the Health Ministry. Most appear have been killed during fighting with Israeli forces or violent protests. Thirteen Palestinians, including five minors, and a member of Israel’s paramilitary Border Police were killed last week in a battle in a refugee camp in the West Bank town of Tulkarem, in which Israel also launched an airstrike. In Gaza, the Israeli military said the humanitarian situation was “under control” as aid workers called for the opening of a round-the-clock aid corridor. The UN humanitarian agency, known as OCHA, said the convey that entered Saturday carried about 4% of an average day’s imports before the war and “a fraction of what is needed after 13 days of complete siege.” It is calling for 100 trucks a day to enter. Huge quantities of aid have been gathered near the Egyptian side of the crossing, but there has been no word on when more might enter. President Joe Biden said the US, which has worked with other mediators to reach an agreement on Rafah, “remains committed to ensuring that civilians in Gaza will continue to have access to food, water, medical care, and other assistance, without diversion by Hamas.” In a statement, he said the US would work to keep Rafah open and let US citizens leave Gaza. But hundreds of foreign passport holders who had gathered at the crossing on Saturday were unable to depart after the aid convoy entered. American citizen Dina al- Khatib said she and her family were desperate to get out. “It’s not like previous wars,” she said. “There is no electricity, no water, no Internet, nothing.” Magdy reported from Cairo and Krauss from Jerusalem. Associated Press journalists Amy Teibel in Jerusalem and Bassem Mroue in Beirut contributed to this report.

Hezbollah official says group already ‘is in the heart’ of Israel-Hamas war By Bassem Mroue The Associated Press

EIRUT — A top official with Hezbollah vowed that Israel will pay a high price whenever it starts a ground offensive in the Gaza Strip and said Saturday that his militant group based in Lebanon already is “in the heart of the battle.” The comments by Hezbollah’s deputy leader, Sheikh Naim Kassem, came as Israel shelled and made drone strikes in southern Lebanon and Hezbollah fired rockets and missiles toward Israel. Hezbollah said six of its fighters were killed Saturday, the highest daily toll since the violence began two weeks ago. For Hezbollah, heating up the Lebanon-Israel border has a clear purpose, Kassem said: “We are trying to weaken the Israeli enemy and let them know that we are ready.” Hamas officials have said that if Israel starts a ground offensive in Gaza, Hezbollah will join the fighting. Exchanges of fire along the LebanonIsrael border have picked up in the two weeks since the attack by the Palestinian

militant group Hamas that killed over 1,400 civilians and soldiers in southern Israel. Retaliatory Israeli airstrikes on Gaza have killed more than 4,000 Palestinians. There are concerns that Iran-backed Hezbollah, which has a weapons arsenal consisting of tens of thousands of rockets and missiles as well as different types of drones, might try to open a new front in the Israel-Hamas war with a large-scale attack on northern Israel. Kassem said his group, which is allied with Hamas, already was affecting the course of the conflict by heating up the Lebanon-Israel border and keeping three Israeli army divisions tied up in the north instead of preparing to fight in Gaza. “Do you believe that if you try to crush the Palestinian resistance, other resistance fighters in the region will not act?” Kassem said in a speech Saturday during the funeral of a Hezbollah fighter. “We are in the heart of the battle today. We are making achievements through this battle.” On Friday, the Israeli military an-

nounced the evacuation of a border city where three residents were wounded in the crossfire a day earlier. Lebanon’s state-run National News Agency reported that an Israeli drone fired a missile on a valley in the Sejoud area, about 20 kilometers (12 miles) north of the Israeli border. Hezbollah did not immediately confirm the attack, but if true it would mark a major escalation as it is deep inside Lebanon and far from the border. An Associated Press journalist in south Lebanon reported hearing loud explosions Saturday along the border, close to the Mediterranean coast. Hezbollah said its fighters attacked several Israeli positions and also targeted an Israeli infantry force, “scoring direct hits.” Lebanon’s state-run National News Agency reported Israeli shelling of several villages and said a car took a direct hit in the village of Houla. On Saturday evening, shelling intensified around an Israeli army post across from the Lebanese village of Yaroun. Hezbollah said six of its fighters

were killed Saturday, raising the total of Lebanese militants killed to 19 since October 7. Israeli army spokesman Avichay Adraee said a group of gunmen fired a shell into Israel and an Israeli drone was launched back toward them. A drone also was dispatched after another group of gunmen fired toward the Israeli town of Margaliot, Adraee said. “Direct hits were scored in both strikes,” Adraee posted on X, formerly known as Twitter. Hezbollah’s Kassem spoke about foreign dignitaries who visited Lebanon over the past two weeks asking Lebanese officials to convince the group not to take part in the latest Hamas-Israel battle. He said Hezbollah’s response to Lebanese officials was, “We are part of the battle.” “We tell those who are contacting us, ‘Stop the (Israeli) aggression so that its (conflict) repercussions and possibility of expansion stops,’” Kassem said, referring to the officials who recently visited Beirut, including the foreign ministers of France and Germany.

AIRO—Egypt and Jordan harshly criticized Israel over its actions in Gaza at a summit on Saturday, a sign that the two Western allies that made peace with Israel decades ago are losing patience with its two-weekold war against Hamas. Egyptian President Abdel Fattah el-Sissi, who hosted the summit, again rejected any talk of driving Gaza’s 2.3 million Palestinians into the Sinai Peninsula and warned against the “liquidation of the Palestinian cause.” Jordan’s King Abdullah II called Israel’s siege and bombardment of Gaza “a war crime.” The speeches reflected growing anger in the region, even among those with close ties to Israel who have often worked as mediators, as the war sparked by a massive Hamas attack enters a third week with casualties mounting and no end in sight. Egypt is especially concerned about a massive influx of Palestinians crossing into its territory, something that it fears would, among other things, severely undermine hopes for a Palestinian state. Vague remarks by some Israeli politicians and military officials suggesting people leave Gaza have alarmed Israel’s neighbors, as have Israeli orders for Palestinian civilians to evacuate to the south, toward Egypt. In his opening remarks, el-Sissi said Egypt vehemently rejected “the forced displacement of the Palestinians and their transfer to Egyptian lands in Sinai.” “I want to state it clearly and unequivocally to the world that the liquidation of the Palestinian cause without a just solution is beyond the realm of possibility, and in any case, it will never happen at the expense of Egypt, absolutely not,” he said. Jordan’s king delivered the same message, expressing his “unequivocal rejection” of any displacement of Palestinians. Jordan already hosts the largest number of displaced Palestinians from previous Mideast wars. “This is a war crime according to international law, and a red line for all of us,” he told the summit. Palestinian President Mahmoud Abbas, who leads the Palestinian Authority, a government exercising semi-autonomous control in the occupied West Bank, called for Israel to stop “its barbaric aggression” in Gaza. He also warned against attempts to push Palestinians out of the coasta l ter r itor y. “We will not leave, we will not leave, we will not leave, and we will remain in our land,” he told the summit. Israel says it is determined to destroy Gaza’s Hamas rulers but has said little about its endgame. On Friday, Israeli Defense Minister Yoav Gallant laid out a threestage plan in which airstrikes and “maneuvering”—a presumed reference to a ground attack—would aim to root out Hamas before a period of lower intensity mopup operations. Then, a new “se-

curity regime” would be created in Gaza along with “the removal of Israel’s responsibility for life in the Gaza Strip,” Gallant said. He did not say who would run Gaza after Hamas. Meanwhile, Israel has ordered more than half of the 2.3 million Palestinians in Gaza to evacuate from north to south within the territory it has completely sealed off, effectively pushing hundreds of thousands of Palestinians toward the Egyptian border. Amos Gilad, a former Israeli defense official, said Israel’s ambiguity on the matter is endangering crucial ties with Egypt. “I think a peace treaty with Egypt is highly important, highly crucial for the national security of Israel and Egypt and the whole structure of peace in the world,” he said. Gilad said Prime Minister Benjamin Netanyahu needs to speak directly with the leaders of Egypt and Jordan, and say publicly that Palestinians will not be entering their countries. Two senior Egyptian officials said relations with Israel have reached a boiling point. They said Egypt has conveyed its frustration over Israeli comments about displacement to the United States, which brokered Camp David Accords in the 1970s. Both officials spoke on condition of anonymity because they were not authorized to brief the media. Egypt worries that a mass exodus would risk bringing militants into Sinai, from where they might launch attacks on Israel, endangering the peace treaty. Arab countries also fear a repeat of the mass exodus of Palestinians from what is now Israel before and during the 1948 war surrounding its creation, when some 700,000 fled or were driven out, an event Palestinians refer to as the Nakba, or catastrophe. Those refugees and their descendants, who now number nearly 6 million, were never allowed to return. At Saturday’s gathering, the anger extended beyond the fears of mass displacement. Both leaders condemned Israel’s air campaign in Gaza, which has killed more than 4,300 Palestinians, including many civilians, according to health authorities in Gaza. Israel says it is only striking Hamas targets and is abiding by international law. The war was sparked by a wide-ranging Hamas incursion into southern Israel on October 7 in which over 1,400 people were killed, the vast majority of them civilians. Abdullah, who is among the closest Western allies in the region, accused Israel of “collective punishment of a besieged and helpless people.” “It is a flagrant violation of international humanitarian law. It is a war crime,” he said. He went on to accuse the international community of ignoring Palestinian suffering, saying it had sent a “loud and clear message” to the Arab world that “Palestinian lives matter less than Israeli ones.” Associated Press writer Julia Frankel in Jerusalem contributed.

The World BusinessMirror

www.businessmirror.com.ph

Monday, October 23, 2023 A9

Russian forces make renewed push to take eastern Ukraine towns with drones, missiles and mortars By Nebi Qena

The Associated Press

YIV, Ukraine—At least three civilians were killed and others wounded in Ukraine on Friday and Saturday, as Russian forces continued to shell areas across the country and pushed forward near an embattled eastern city, local Ukrainian officials reported Saturday. A man died as Russian forces shelled the Ukrainian-held town of Nikopol from their stronghold at Ukraine’s largest nuclear plant, according to Ukrainian local Gov. Serhii Lysak. Lysak said that emergency services in Nikopol were working to assess the damage. Russian troops took over the Zaporizhzhia Nuclear Power Plant early in the war, sparking intermittent fears of a radiation incident as shelling persisted near the site, often targeting Ukrainian-controlled settlements across the Dnieper River. In Kryvyi Rih, the central Ukraine hometown of President Volodymyr Zelenskyy, a 60-year-old man died on Friday evening when a Russian missile slammed into an industrial facility, according to Telegram posts by Mayor Oleksandr Vilkul. The man’s wife was hospitalized with serious shrapnel wounds, Vilkul said. The mayor reported that Russian missiles and drones hit the same place again

overnight, causing unspecified damage and sparking a fire that was put out by morning. Vilkul did not elaborate on the site’s nature or whether it was linked to Ukraine’s war effort. He said nobody was hurt in the second strike. Russian Defense Ministry spokesman Igor Konashenkov later told reporters that Russian forces destroyed the Ukrainian mi l itar y’s f uel and ammunition depots near Kryvyi Rih’s local airport. There was no immediate response from Ukrainian officials to Konashenkov’s claim. In southern Ukraine’s frontline Kherson region, one civilian was killed and another wounded during “mass shelling” attacks by Russian troops, Gov. Oleksandr Prokudin said Saturday. The Russians used mortars, artillery, tanks, drones, and multiple-rocket launchers to target the region, striking some residential areas, Prokudin wrote in a Telegram post.

A boy plays on a tank installed as a monument in Kyiv, Ukraine, in front of the Motherland monument, just reopened for public viewing on Saturday, October 21, 2023. AP Photo/Alex Babenko

Russian shelling over the past day also wounded one civilian in the front-line city of Avdiivka, in Ukraine’s eastern Donetsk region, acting local Gov. Ihor Moroz reported on Saturday. Avdiivka has been fiercely contested by Russian and Ukrainian forces in recent weeks as Kyiv’s forces try to hold off a renewed Russian assault. Moroz said that exploding drones, missiles, mortars and artillery shells fired by Russian troops also struck other parts of the region. Russian troops on Friday launched a fresh offensive north of Avdiivka that has secured minor gains, according to an analysis by the Institute for the Study of War. The Washington-based think tank cited geolocated footage from pro-Kremlin “military bloggers” on the ground to support its assessment. Moscow’s renewed push near Avdiivka

reflects the Russian military command’s commitment to offensive operations in the area “despite heavy materiel and personnel losses,” the institute said. The Ukrainian General Staff on Friday claimed that Ukrainian forces had damaged and destroyed almost 50 Russian tanks and over 100 armored vehicles in the fighting near Avdiivka during the previous day. The claim could not be independently verified. Oleksandr Shputun, a spokesman for the Ukrainian army unit fighting near Avdiivka, said in televised remarks Saturdays that Russian military activity in the area had “decreased slightly,” possibly due to heavy losses. However, Shputun acknowledged that Russian units continued to advance. In the northeastern Kharkiv region, a 39-year-old civilian man was hospitalized

with wounds as Russian shelling hit two village homes near the embattled town of Kupiansk, Gov. Oleh Syniehubov reported on Saturday. Russian forces have for weeks been pressing an offensive to retake territory near Kupiansk and the nearby town of Lyman. The governor of Russia’s southern Belgorod region, which borders Ukraine, said Saturday that Ukrainian forces shelled two of the province’s districts with mortars and grenade launchers the previous day. According to Gov. Vyacheslav Gladkov, no civilians were hurt. Elsewhere, a top Ukrainian presidential adviser reported that four Ukrainian children who were released from Russian captivity on Monday have been reunited with their families. According to the Telegram post by Andriy Yermak, a 17-year-old girl and three boys ages 9, 6 and 3, were captured by occupying Russian forces in southern and eastern Ukraine. Yermak said one of the boys was transferred to an orphanage in southern Russia, while another was forcibly taken to Russian-annexed Crimea. Deportations of Ukrainian children have been a concern since Russia’s February 24, 2022, invasion of Ukraine. The International Criminal Court increased pressure on Moscow when it issued arrest warrants in March for President Vladimir Putin and Russia’s children’s rights commissioner, Maria Lvova-Belova, accusing them of abducting children from Ukraine. State media in Kremlin-allied Belarus have also published reports on children arriving in the country from Ukraine’s occupied territories, ostensibly to join “health recuperation programs.”

Egypt’s border crossing opens to let a trickle of desperately needed aid into besieged Gaza Australia suspends By Najib Jobain, Samy Magdy & Joseph Krauss The Associated Press

AFAH, Gaza Strip — The border crossing between Egypt and Gaza opened Saturday to let a trickle of desperately needed aid into the besieged Palestinian territory for the first time since Israel sealed it off and began pounding it with airstrikes following Hamas’ bloody rampage two weeks ago. Just 20 trucks were allowed in, an amount aid workers said was insufficient to address the unprecedented humanitarian crisis. More than 200 trucks carrying 3,000 tons of aid have been waiting nearby for days. Gaza’s 2.3 million Palestinians, half of whom have fled their homes, are rationing food and drinking dirty water. Hospitals say they are running low on medical supplies and fuel for emergency generators amid a territory-wide power blackout. Five hospitals have stopped functioning because of fuel shortages and bombing damage, the Hamas-run Health Ministry said. Doctors reported using sewing needles to stitch wounds, and using vinegar as a disinfectant until the shops ran out. With anesthesia running low, the screams of patients could be heard during surgery. Doctors Without Borders said Gaza’s health care system is “facing collapse.” Meantime, Gaza’s Hamas-run Interior Ministry reported heavy Israeli airstrikes across the territory overnight into Sunday, including southern areas where Israel had told Palestinians to seek refuge. The ministry said that among the sites hit were homes and a cafe in the evacuation zone where dozens of displaced residents had sought shelter. Israel’s military has said it is striking Hamas members and installations, but does not target civilians. In a statement posted early Sunday on X, the site formerly known as Twitter, the Israeli military said it had launched a strike on the Al-Ansar mosque at the Jenin refugee camp in the occupied West Bank. There are growing expectations of a ground offensive that Israel says would be aimed at rooting out Hamas. Israel said Friday that it doesn’t plan to take long-term control over the small but densely populated Palestinian territory. Israeli Prime Minister Benjamin Netanyahu convened his Cabinet late Saturday to discuss the expected invasion, Israeli media reported.

Israel’s military spokesman, Rear Adm. Daniel Hagari, said the country planned to step up its airstrikes starting Saturday as preparation for the next stage of the war. “We will deepen our attacks to minimize the dangers to our forces in the next stages of the war. We are going to increase the attacks, from today,” Hagari said, repeating his call for Gaza City residents to head south for their safety. Israel has vowed to crush Hamas but has given few details about what it envisions for Gaza if it succeeds. Yifat Shasha-Biton, a Cabinet minister, said there was broad consensus in the government that there will have to be a “buffer zone” in Gaza to keep Palestinians away from the border. “We need to create a distance between the border and our communities,” she told Channel 13 TV, adding that no decisions had been made on its size or other specifics. Tensions have risen in the West Bank, where dozens of Palestinians have been killed in clashes with Israeli troops, arrest raids and attacks by Jewish settlers. Israeli forces have held the West Bank under a tight grip, closing crossings into the territory and checkpoints between cities, measures they say are aimed at preventing attacks. The opening of Rafah came after more than a week of high-level diplomacy, including visits to the region by US President Joe Biden and U.N. Secretary-General Antonio Guterres. Israel had insisted nothing would enter Gaza until Hamas released all the captives from its Oct. 7 attack on towns in southern Israel. Late Friday, Hamas freed its first captives—an American woman and her teenage daughter. It was not immediately clear if there was a connection between the release and the aid deliveries. Israel says Hamas is still holding at least 210 hostages, though their conditions—and if they are even alive—remains unknown. On Saturday morning, an Associated Press reporter saw the 20 trucks heading north from Rafah to Deir al-Balah, a quiet farming town where many evacuees from the north have sought shelter. Hundreds of foreign passport holders at Rafah hoping to escape the conflict were not allowed to leave. American citizen Dina al- Khatib said she and her family were desperate to get out. “It’s not like previous wars,” she said. “There is no electricity, no water, no Internet, nothing.”

The trucks carried 44,000 bottles of drinking water—enough for 22,000 people for a single day, according to UNICEF. “This first, limited water will save lives, but the needs are immediate and immense,” said UNICEF Executive Director Catherine Russell. The World Health Organization said four of the trucks were carrying medical supplies, including trauma medicine and portable trauma bags for first responders. “We need many, many, many more trucks and a continual flow of aid,” said, the head of the UN’s World Food Program, Cindy McCain. Gaza’s Hamas-run government called for a secure corridor operating around the clock. Hagari, the Israeli military spokesman, said “the humanitarian situation in Gaza is under control.” He said the aid would be delivered only to southern Gaza, where the army has ordered people to relocate, adding that no fuel would enter. Biden said the United States “remains committed to ensuring that civilians in Gaza will continue to have access to food, water, medical care, and other assistance, without diversion by Hamas.” The US government would work to keep Rafah open and let US citizens leave Gaza, he said in a statement. US Defense Secretary Lloyd Austin said late Saturday he was sending additional air defense systems to the Middle East and putting more troops on “prepare to deploy” orders. Guterres emphasized international concern over civilians in Gaza, telling a summit in Cairo that Hamas’ “reprehensible assault” on Israel “can never justify the collective punishment of the Palestinian people.” Two Egyptian officials and a European diplomat said extensive negotiations with Israel and the U.N. to allow fuel deliveries for hospitals had yielded little progress. They spoke on condition of anonymity because they were not authorized to release information on the sensitive deliberations. One Egyptian official said they were discussing the release of dual-national hostages in return for fuel, but that Israel was insisting on the release of all hostages. The release of Judith Raanan and her 17-year-old daughter, Natalie, on Friday brought some hope to the families of others believed held hostage. Rachel Goldberg, whose son is thought to have been badly wounded before he was taken hostage, said she was “very relieved” by the news but urged quick work to save

others, including her son. “I think he could be dying,” she said. “So we don’t have time.” Hamas said it was working with Egypt, Qatar and other mediators “to close the case” of hostages if security circumstances permit. Israel has also traded fire along its northern border with Lebanon’s Hezbollah militants, raising concerns about a second front opening up. The Israeli military said Saturday it struck Hezbollah targets in Lebanon in response to recent rocket launches and attacks with anti-tank missiles. “Hezbollah has decided to participate in the fighting, and we are exacting a heavy price for this,” Israeli Defense Minister Yoav Gallant said during a visit to the border. Hezbollah said six of its fighters were killed Saturday, and the group’s deputy leader, Sheikh Naim Kassem, warned that Israel would pay a high price if it starts a ground offensive in the Gaza Strip. Israel ordered its citizens to leave Egypt and Jordan—which made peace with it decades ago—and to avoid travel to a number of Arab and Muslim countries, including the United Arab Emirates, Morocco and Bahrain, which forged diplomatic ties with Israel in 2020. Protests against Israel’s actions in Gaza have erupted across the region, and large demonstrations were held Saturday in several European and US cities. An Israeli ground assault would likely lead to a dramatic escalation in casualties on both sides in urban fighting. More than 1,400 people in Israel have been killed in the war—mostly civilians slain during the Hamas attack. More than 4,300 people have been killed in Gaza, according to the Hamas-run Health Ministry. That includes the disputed toll from a hospital explosion. At the summit Saturday, Egypt President Abdel Fattah el-Sissi called for ensuring aid to Gaza, negotiating a cease-fire and resuming Israeli-Palestinian peace talks, which broke down more than a decade ago. He also said the conflict would never be resolved “at the expense of Egypt,” referring to fears Israel may try to push Gaza’s population into the Sinai Peninsula. King Abdullah II of Jordan said Israel’s attacks on Gaza were “a war crime” and slammed the international community’s response. “Anywhere else, attacking civilian infrastructure and deliberately starving an entire population of food, water, electricity, and basic necessities would be condemned,” he said.

China WTO wine dispute before PM’s visit

By Keira Wright & Alyssa McDonald

ustralia will suspend its case at the World Trade Organization over China’s tariffs on wine imports ahead of Prime Minister Anthony Albanese’s first trip to the country next month. China will undertake a review of its wine tariffs that’s expected to take five months, Albanese’s office said in a press release on Sunday. During that period, Australia will suspend its WTO dispute over China’s actions. The prime minister’s visit to China from November 4 to 7, the first by an Australian leader since 2016, is another sign of warming relations between the two governments. Earlier this month, China released Australian journalist Cheng Lei from about three years of detention for allegedly passing national secrets to an overseas institution. China responded to the Australian move on the same day. The two countries have had “friendly negotiations” regarding wine and wind tower disputes and reached a consensus on properly solving them, the Chinese Commerce Ministry said in a statement on Sunday. It didn’t provide specific details about next steps related to its wine tariffs. China slapped steep tariffs on Australian wine in 2020 as diplomatic relations between the nations soured, with trade in other commodities such as coal and seafood also affected. The wine market was Australia’s most valuable prior to the implementation of duties, worth more than A$1 billion ($631.4 million) in 2018-19 and 2019-20, according to the nation’s agriculture department. “We’re very confident that this will result in once again Australian wine, a great product, being able to go to China without the tariffs,” Albanese said at a press conference on Sunday. He added that this was “critical,” as the wine industry has struggled to fill the gap left by China’s business. The move toward ending duties on wine follows Beijing’s removal of penalties on the nation’s barley exports in August that allowed for a resumption of trade. Australian Agriculture Minister Murray Watt noted in a post on social media platform X that the agreement on wine follows the “same process as removal of trade barriers on Aussie barley.” Albanese will meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing and will also attend the China International Import Expo in Shanghai. “I look forward to further engaging with President Xi and Premier Li in Australia’s national interest,” Albanese said in the press statement. With assistance from Hallie Gu, Ben Sharples and Jessica Sui / Bloomberg

A10 Monday, October 23, 2023 • Editor: Angel R. Calso

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editorial

How PHL can repulse Chinese aggression

hina’s bullying in the South China Sea has been going on for decades. Beijing has been using its discredited territorial claims to justify the strong-arm tactics it uses to encroach on our exclusive economic zone. The Philippines sought to counter Chinese aggression by going to international adjudication.

On July 12, 2016, the Arbitral Tribunal in the South China Sea Arbitration (The Republic of the Philippines v. The People’s Republic of China) issued a unanimous award largely favorable to the Philippines. The UN tribunal concluded that China violated UNCLOS for operating within the Philippines’ EEZ, interfering with fishing and other activities, constructing artificial features, and conducting law enforcement activity outside its jurisdiction. The legal victory of the Philippines spurred a pattern of resistance among other South China Sea claimant states. The Economist newspaper reported: “Asean members Brunei, Indonesia, Malaysia, the Philippines and Vietnam insist that international law must be the foundation for any settlement of South China Sea territorial disputes following an international tribunal’s 2016 ruling that Beijing’s expansive claims contravene the United Nations Convention on the Law of the Sea.” Asean countries are seeking to resolve any territorial disputes with each other, The Economist noted. “That includes efforts such as Indonesia and Vietnam agreeing to demarcate their exclusive economic zones [EEZs], and Malaysia submitting to the United Nations for an extension of its continental shelf boundary. None of those discussions has given credence to Beijing’s illegal claims.” “Chinese bullying continues to undermine Beijing’s appeal as a regional leader and fuels Asean resentment,” said Dr. Timothy Heath, senior international defense researcher at the Rand Corp. “China’s tactics thus contribute directly to the warm welcome many Asian states express towards the idea of a stronger US presence in the region.” “This is important because it demonstrates how little international support exists for China’s claims in the South China Sea,” Heath said. “This keeps China’s political and legal arguments in a very weak position and gives Asean leverage in its discussion with China about the maritime area.” The Philippines remains undeterred by any Chinese “harassment” and will continue to operate its ships in the West Philippines, Defense Secretary Gilberto C. Teodoro Jr. said. He gave this response when asked on whether the dangerous maneuvers performed by a People’s Liberation Army Navy ship against BRP Benguet, which was en route to a routine rotation and resupply (RORE) mission to Rizal Reef on October 13, could be viewed as escalation. (Read the BusinessMirror report, “‘Gibo’ says DND-AFP undeterred by Chinese ‘harassment’ in WPS,” October 19, 2023). “I cannot establish on whether this incident is isolated or not, but on my end, the instructions from President Marcos are clear, whatever happens, our operations in the West Philippine Sea will continue,” Teodoro said. The Armed Forces of the Philippines said that the Chinese attempt to cross the bow of BRP Benguet last week was the first time they did such a dangerous maneuver on a Filipino vessel doing a RORE mission in Rizal Reef. AFP Chief-of-staff Gen. Romeo Brawner Jr. urged China to stop its vessels’ dangerous maneuvering versus Filipino ships in the West Philippine Sea as this could endanger military personnel on both sides. (Read the BusinessMirror report, “Brawner urges China to stop dangerous maneuvers of its ships,” October 16, 2023). “These dangerous and offensive maneuvers by China’s Navy ship not only risk collision but also directly endanger the lives of maritime personnel from both sides. The AFP remains committed to ensuring the safety of its personnel during RORE missions and asserts that it will continue to adhere to the rules-based international order,” Brawner said. China’s leaders and our own national officials have often emphasized that the maritime disputes do not represent the totality of China-Philippine bilateral relations. But Beijing’s continuing aggressive assertion of its unlawful maritime claims in the South China Sea has inflamed regional tensions. From 2020 to 2023, the Philippines has filed more than 450 diplomatic protests to China. But nothing good happened. The Marcos administration’s move to strengthen defense ties with allies is the right approach to finally repulse Chinese aggression.

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A complex path to peace Atty. Jose Ferdinand M. Rojas II

RISING SUN

hat we saw on the news after October 7 was horrifying, there is no doubt about that. There is no justification for what was done to unarmed, innocent civilians.

Now there is nothing wrong with talking about it or having an opinion on it even if we are far away, even if we are not directly involved. I have seen comments stating we should care more about local issues—no one has the right to tell us what to care about. It also does not mean we are indifferent about local issues if we choose to talk about Gaza. Some arguments on social media seem to imply that people should be taking sides. This is dangerous because if you take the side of the October 7 victims, then you will be given a lecture on how the decadeslong conflict started. I say it’s risky because there is absolutely no justi-

fication for what was done. And yet if you talk about how Palestinians have endured years of conflict and struggle, some might say it is tantamount to defending the actions of Hamas, which, of course, is not true. It is a complex and sensitive situation, reason why no agreement has been reached after decades of fighting. But the fact is that the ordinary people of Gaza, the same ones who have suffered for years, are the most affected by all this violence. For years they have longed for peace, but instead, they have had to deal with food insecurity, economic problems, displacement, limited access to

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healthcare and clean water, threats to security and peace, violence, and loss of lives. Another fact is that the parties involved in this issue have their own complex perspectives and agendas, blocking the numerous peace initiatives that have been put forward

over the years. From where we are, it is difficult to be at peace when we know innocent civilians are being bombed to death in Gaza. Two million people live there, and over half of them are children. And yet, it is probably impossible to stand on neutral ground in this issue, but at least everyone must hope for understanding, compromise, and dialogue. We must hope that there may be humanitarian and diplomatic world leaders who can successfully forge the path to a long-lasting solution to this conflict, a resolution that respects the aspirations of both Israelis and Palestinians. We must continue to hope and pray that the war does not escalate, as we know for a fact that regional dynamics and the involvement and actions of neighboring countries and regional/international powers can, indeed, influence the trajectory of the current situation. I think the international community must stand with Israel, but it must also stand with the Palestinian civilians. Most importantly, the international community must, at all times, stand for peace.

Revisiting the Government Procurement Reform Act

✝ Ambassador Antonio L. Cabangon Chua Publisher

Some arguments on social media seem to imply that people should be taking sides. This is dangerous because if you take the side of the October 7 victims, then you will be given a lecture on how the decades-long conflict started. I say it’s risky because there is absolutely no justification for what was done. And yet if you talk about how Palestinians have endured years of conflict and struggle, some might say it is tantamount to defending the actions of Hamas, which, of course, is not true. It is a complex and sensitive situation, reason why no agreement has been reached after decades of fighting.

he Senate Committee on Finance is about to conclude its hearings on the individual budgets of the different departments, agencies and offices of the government. Over the next two weeks, we will be collating the recommendations made by our 15 subcommittee chairpersons for the crafting of the committee report on the 2024 General Appropriations Bill (GAB). As Chairman of the Committee on Finance, I intend to sponsor the report shortly after Congress resumes its sessions on November 6. We expect spirited debates on the proposed P5.768 trillion national budget and just as we have done in the previous years, we will listen to all of our colleagues’ opinions and amendments and take these into consideration in the crafting of the Senate’s version of the GAB. Another important measure on the table for the Committee on Finance is the Revised Government Procurement Reform Act (GPRA). We recently conducted a hearing on the various bills related to government

procurement and bidding procedures filed by Senators Francis Tolentino, Risa Hontiveros, Pia Cayetyano, Ramon Revilla Jr., and Jinggoy Estrada. The list includes our own Senate Bill Number 2466, which seeks to revise the GPRA to make it more responsive and relevant under the present conditions. It was way back in January of 2003 when Republic Act 9184 or the GPRA was enacted into law. Authored by my father, the late former Senate President Edgardo Angara, the GPRA was seen as a landmark piece of legislation, lauded and recognized around the world and by organizations including the

Two decades have passed since the GPRA was enacted and a lot has changed since then. Some challenges have been identified in the procurement process, including the low utilization of funds by some government entities or underspending, prolonged delays in infrastructure projects and the tedious processes in procuring goods and services, which is partly attributed to the procurement law. The law that was intended to improve efficiency has sadly resulted in inefficiencies.

World Bank. The law was crafted to improve efficiency, competition, transparency and most importantly, eliminate political interference, which often leads to corruption in the government procurement process. The Department of Budget and Management (DBM) described the GPRA as one of the biggest acquisition and anti-corruption laws in the country. Two decades have passed since the GPRA was enacted and a lot has changed since then. Some challenges have been identified in the

procurement process, including the low utilization of funds by some government entities or underspending, prolonged delays in infrastructure projects and the tedious processes in procuring goods and services, which is partly attributed to the procurement law. The law that was intended to improve efficiency has sadly resulted in inefficiencies. Technology has also evolved over the last 20 years and the law has to adapt to the latest trends in order for it to remain relevant and effective. As President Ferdinand Marcos Jr. said in his second State of the Nation Address last July, enacting a new procurement law and auditing code will make government procurement and auditing more attuned to these changing times. The DBM recommended amendments that will introduce innovative procurement methods that are aligned with the assessment of the public procurement system of the country using the methodology for assessing procurement system or MAPS. It espoused the awarding of contracts not only based on the lowest bids but on merit. Transparency is prioritized and access to information on the procurement and bidding process will include online See “Angara,” A11

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Everything about confidential and intelligence funds Razzel Ann Vergara-Sagono

DEBIT CREDIT

Part One

he confidential and/or intelligence funds have been talked about a lot during the deliberations on the proposed 2024 national budget. But what are confidential and/or intelligence funds and what are the guidelines on the entitlement, release, use, reporting and audit of such funds. Joint Circular No. 2015-01 dated January 8, 2015 issued by the Department of Budget and Management, Department of the Interior and Local Government, Department of National Defense, Governance Commission for GOCCs and the Commission on Audit provides for the Guidelines on the Entitlement, Release, Use, Reporting and Audit of Confidential and/or Intelligence Funds, in all agencies of the government entitled to it such as NGAs, GOCCs and even local government units (LGUs) whose peace and order is a priority concern. To be entitled to these funds, the same should have been provided in their respective approved annual budget. As provided in the said circular, confidential fund (CF) shall be used for confidential expenses or those expenses pertaining/related to surveillance activities in civilian government agencies that are intended to support the mandate or operations of the agency. The circular has provided an exclusive list of CE that are allowed. Likewise, it has also provided that the conduct of confidential activities shall, as far as practicable, be done with proper collaboration with any of our law enforcement agencies such as the Philippine National Police, Armed Forces of the Philippines, Philippine Drug Enforcement Agency and or other agencies with law-enforcement functions, which, if undertaken, must be specified in the accomplishment report of the concerned agency. On the other hand, the intelligence fund (IF) shall be used for intelligence expenses (IE) or those expenses related to intelligence information-gathering activities of uniformed and military personnel, and intelligence practitioners that have a direct impact on national security. While both funds are presented as lump-sum amounts in the annual budget, the concerned agencies are required to support the same with a Physical and Financial Plan.

This plan is where the concerned agency indicates the proposed amount allocated for each program, activity, and project, where disbursements pertaining to CE and IE shall be based. LGUs, to be allowed with CF, are required to include the specific amount for Peace and Order Programs in their Peace and Order and Public Safety Plan, which must also be specifically appropriated in their annual budget. Likewise, the amount that can be appropriated for the CF of LGUs shall not exceed 30 percent of the total annual amount allocated for the LGU’s POP. Like any other disbursement of government funds, releases of the CF and/or IF are subject to the approval of the concerned officials. For instance, the utilization of CF in NGAs is subject to approval by the department secretary, or the head of the agency in case of Constitutional Commissions. Prior approval of the President is required for releases of IF, CF of GOCCs, and NGAs that have been granted specific authority in the GAA to use savings to augment its budget allocation for intelligence and counterintelligence activities. For LGUs, the release and utilization of the total CF necessitates a resolution duly approved by two-thirds of the total membership of the Local Peace and Order Council. Moreover, in the event that additional CF in excess of the limitation is extremely necessary, additional appropriation supported with the duly authorized supplemental budget is subject to the approval by the Department of the Interior and Local Government secretary. (To be continued) Razzel Ann Vergara-Sagono is a graduate of BSA at Polytechnic University of the Philippines-Lopez, Quezon and a Certified Public Accountant. She has a Master’s degree in Business Administration conferred by AMA University. She is currently working as an internal auditor at the provincial government of Camarines Norte.

Triumph over trauma Siegfred Bueno Mison, Esq.

THE PATRIOT

Part One

‘I

srael is at war.” This was the announcement that jostled us from our normal routines two weeks ago after news channels displayed gory scenes of confusion in the streets, gun smoke and building rubble, and blood and death—men, women and children. Sometimes referred to as Israel’s 9-11, that fateful Saturday “had no warning of any kind, and it was a total surprise that the war broke out this morning” as per Efraim Halevy, the former chief of Israel’s intelligence service. Middle East observers all claimed that October 2023 was the first time that Palestinian extremists had been able to “penetrate” so intensely into Israel.

he visit of President Marcos to the Middle East has not only accomplished the overtures for additional investments from the Gulf Cooperation Countries; it has actually assured the Philippines of a steady supply of oil that is seen to be affected with the fall-out from the Israel-Hamas conflict. That is the most reassuring playbook from that visit as it highlighted the possibility of the country getting the much-needed lubricant to power up our economy. For now, there is the possible scenario of the geopolitical conflagration that could raise a threat to an economic well-being for the globe that is now just emerging from the havoc wrought by the pandemic. In hobnobbing with the heads of

the Gulf Cooperation Council, President Marcos is now just a call away from getting oil at a friendly price should the Mideast conflict expand. That alone is a reassuring thought given the fluid situation that analysts are saying could involve more countries in the ongoing conflict. Thus, PBBM’s visit gives the country an added advantage outside of the number of job offers that he brought home from the Kingdom of

Thus, even as we see piles of trauma over trauma in the midst of this war, we also should see piles of triumph upon triumph because we have a reliable Father who keeps His promises! He kept His covenant before, He does so now for you and me, and He will continue to fulfill that promise even as Israel braces for wars on end. As one author succinctly puts it: God did not just have one nation in mind, He had all the nations of the world in mind. Let’s continue to pray for all nations and people.

Savior, Jesus Christ. Again, the biblical truth cannot simply be sifted from what is now happening politically and socially because history will consistently reflect God’s forgiving and promise-keeping heart not just for Israel but also for all of us. He needed a group—the Jews—that would represent His character on earth, a people who would obey Him, keep His covenant and be called His treasured possession (Exodus 19:3-6). God was setting up a lineage from which Christ would come through. This is another promise to Abraham fulfilled: that all the people on earth will be blessed through him (Genesis 12:3). Others may see Israel as just a small country, beleaguered by wars and conflict. Believers in faith ought to see Israel as a nation through which God displays His ever-constant mercy and promise-keeping character. That with the lens of this nation, where a Jew called Jesus came through, the offer of salvation flows! Everyone can enjoy every blessing that He paid for on the Cross. And that precisely reflects the character of our Heavenly Creator—loving everyone absolutely! Thus, even as we see piles of trauma over trauma in the midst of this war, we also should see piles of triumph upon triumph because we have a reliable Father who keeps His promises! He kept His covenant before, He does so now for you and me, and He will continue to fulfill that promise even as Israel braces for wars on end. As one author succinctly puts it: God did not just have one nation in mind, He had all the nations of the world in mind. Let’s continue to pray for all nations and people.

The barrage of thousands of rockets and the coordinated attack by land and air made everyone wonder how exactly Hamas had that much firepower in the first place. Disheartening, as we witness the war from afar, that innocent children were beheaded while women were raped and slaughtered. In retaliation, Israel has bombarded Gaza, killing more than a hundred Palestinians in the process. Viciously brutal, peace seems unlikely in the next few weeks in this part of the world. War to Israel is not novel. Since its independence in 1948, Israel has been part of approximately 18 armed engagements, the Arab-Israeli war, the Yom Kippur war, Six-day war, and the Gaza war, to name a few. This ongoing battle with Hamas, dubbed Operation Iron Swords by the Israel Ministry of Defense, could potentially be the bloodiest. As if this would not suffice to place Israel in the Hall of Fame for the “most number of armed engagements,” Israelites have been without rest since their time in Egypt in biblical history. Never have probably been there any group of people that has been subjected to terror, turmoil and trauma. As far back in 70 AD, the Roman armies besieged the city of Jerusalem, where a million people starved to death and Jewish men were enslaved to build the Colos-

seum. Between 1050-1300, military expeditions (Crusades) were sent from Europe to Jerusalem to “rid” the Holy Land of “infidels,” wherein an estimated 1.7 million people, including Jews, were killed and burnt in the First Crusade alone. In 1478, known as the Spanish Inquisition, King Ferdinand and Queen Isabella kicked Jewish people out of Spain to repress what they thought as heresy, torturing and executing thousands upon thousands of Jews because they would not want to convert. In 1948, after being severed from the British mandate for Palestine, Israel was reborn with the establishment of the State of Israel, via the United Nations Resolution 181, the bible prophecy in Isaiah 66:8 was fulfilled—that a country be born in one day and a nation be brought forth in a moment. Yet no sooner than Israel’s birth as a nation did violence follow, regenerating the conflict between Arabs and Jews. The fabric of seemingly endless battles and struggles has not covered, however, the fact that the Jews were gathered together on “crescent” land, supposedly the most fertile land in the whole world. Come to think of it, such a small country as Israel, close to the size of New Jersey, USA, has always been embroiled in conflict and yet has constantly

emerged victorious. It has even acquired territories as the Gaza Strip, the West Bank, the Sinai Peninsula (later traded) and annexed East Jerusalem and the Golan Heights— almost all of Palestine! Israel has grown as a formidable power, having developed advanced technology, and manufactured modern weapons that even the Philippines has purchased some from this conflictridden country. While we are inclined to commiserate both with Israel and Palestine for the loss of many lives, especially that of children, we need to see beyond the conflict. The center of attention is neither Jews nor Palestines but rather the sovereignty of the Almighty God who “chose” Israel to display His kind and promise-keeping character to all mankind. Biblical accounts reveal that our Heavenly Father’s heart has always been for the protection of Israel albeit its waywardness and rebellion. Many a time we have heard of how this country has been alluded to as “God’s chosen nation.” Not that He prefers it over others even over the Philippines, for God does not play favorites (Romans 2:11), but He chose Israel for a purpose—the fulfillment of His promise to one man (Abraham) to become a nation (Genesis 13:14-15). Again, it is not preference, but it is functionality that defines the word “chosen.” As biblically attested to, God chose Abraham, built a nation out of him, which served as the linchpin for our

Angara . . .

result in the goods already becoming outdated by the time they are delivered to the procuring entity. Just like what the DBM noted, Villanueva said that government entities often end up not getting the best quality of goods when the focus is on saving money by favoring the lowest bids. In the past we have also seen controversies linked to the procurement system. The proposed revised GPRA is intended to address these challenges and to assist procuring entities in coping with the implementation of vast, complex and intricate government projects. The amendments embody a shift towards a fit-for-purpose

procurement approach developed to meet the specific needs of procuring entities. Strategic procurement planning and preparations through the conduct of relevant market scoping, supply positioning, analysis of available procurement modalities and risk management is emphasized. These efforts will be complemented by reliable strategies to design and prepare procurement projects such as Early Procurement Activities, Green Public Procurement, Socially Responsible Procurement, Design and Build Scheme, Engagement of a Procurement Agent, Use of Framework Agreement, and Use of LifeCycle Assessment and Life-Cycle

Cost Analysis. After two decades, now is a good time to reassess the law. We will study its strengths and its weaknesses and build on these strengths while responding to the demands of modern life and being more responsive to the needs of the government and its people.

astride two of the most vibrant sea lanes of trade and communications in the world.” PBBM’s visit also allowed for the resolution of the impasse following the suspension of OFW deployment to Kuwait. The President was able to resolve the outstanding bilateral issue between the two countries. “Now, that will end and we will now return to the normal state of affairs with the Kuwaiti government,” he added. Aside from pocketing these gains, the President was able to pitch for more funds for the Maharlika Fund, which is an investment vehicle for the ambitious infra program of the country. The President introduced the Fund and got the nod of Saudi Arabia’s sovereign wealth fund, Public Investment Fund, and piqued the interest of the other GCC countries. And then there are those investment agreements that arose from the bilateral meetings organized by the Department of Trade and Industry (DTI) and the Saudi Ministry of Investment led by Minister Khalid

Al-Falih. Saudi’s Al Rushaid Petroleum Investment Company and Samsung Engineering NEC Co. Ltd. signed with Philippines’ EEI Corp. for construction export services worth $120 million. Also, Saudi’s Al-Jeer Human Resources Company-ARCO signed with the Association of Philippine Licensed Agencies for the Kingdom of Saudi Arabia for a human resource services agreement worth $3.7 billion. The third investment agreement was made between Saudi’s Maharah Human Resources Company and that of the country’s Staffhouse International Resources Corp. and E-GMP International Corporation for partnership agreements worth $191 million. These agreements are expected to further intensify the Gulf countries’ investments into the country, which last year got foreign inflows of $9.2 billion and with that number, plus the oil assurance, PBBM now has a platform to further push for more foreign visits.

continued from A1o

platforms. The DBM emphasized adopting digitalization and innovation to make procurement more efficient and transparent. Court Administrator Raul Villanueva, in relaying the Supreme Court’s experience with the procurement law, lamented how the process of bidding takes too long and how it affects certain purchases such as IT equipment. He explained that the awarding of contracts takes a year or two to complete and for IT equipment, this most likely would

PBBM’s Mideast sortie assures PHL of oil supply LITO GAGNI

Monday, October 23, 2023 A11

Saudi Arabia and Kuwait, which had heretofore suspended the hiring of OFWs from the country. And beyond the job offers, the investments that the Maharlika Fund will get from the sovereign wealth funds, and the ensuring foreign direct investments that are likely to come, are significant milestones in the foreign visits that President Marcos undertakes. Commenting on the visit to Saudi Arabia on his arrival Saturday afternoon, PBBM said that it was a successful and productive one with various engagements accomplished to reaffirm the Philippines’ commitment to the partnership between the GCC and Asean countries, as well as to promote the country to prospective investors. He cited the business-to-business agreements that would guarantee additional employment for Filipino workers such as the partnership between Saudi and Philippine human resource companies “for the training and employment of Filipinos across

In hobnobbing with the heads of the Gulf Cooperation Council, President Marcos is now just a call away from getting oil at a friendly price should the Mideast conflict expand. That alone is a reassuring thought given the fluid situation that analysts are saying could involve more countries in the ongoing conflict. a wide range of industries including healthcare, hotel, restaurant, catering, and maintenance, among other operations.” “These agreements are expected to generate more than U$4.2 billion and additional 220,000 jobs for Filipinos over the next few years,” he said, adding that the “Asean-GCC Summit provided an opportunity to project the Philippines’ long-standing promotion of a rules-based international order, which is essential to the maintenance of peace, security, and stability in our regions which sit

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.

Senator Sonny Angara has been in public service for 19 years—9 years as Representative of the Lone District of Aurora, and 10 as Senator. He has authored, co-authored, and sponsored more than 330 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

Companies BusinessMirror

Editor: Jennifer A. Ng

Monday, October 23, 2023

SEC issues list of companies in danger of being cancelled

By VG Cabuag

@villygc

HE Securities and Exchange Commission (SEC) has again warned corporations of stringent enforcement actions for their failure to comply with their reportorial requirements, such as the annual financial statement (AFS) and a general information sheet (GIS). In a notice dated October 18, the SEC released a list of 22,403 ordinary corporations in danger of having their certificates of incorporation revoked for failure to submit their GIS within five years from the date of their incorporation. Under the Revised Corporation

Code of the Philippines, if a corporation does not formally organize and commence its business within five years from the date of its incorporation, its Certificate of Incorporation will be deemed revoked as of the day following the end of the 5-year period.

In a separate notice, the SEC also released a list of 298,335 ordinary corporations that have failed to submit their GIS for three times consecutively or intermittently within a 5-year period. “Corporations’ timely submission of their AFS, GIS and other reportorial requirements is vital in maintaining a healthy and vibrant corporate sector, as this helps us identify active versus inactive corporations, enhance and organize the Commission’s digital database and protect the public from fraud,” SEC Chairman Emilio B. Aquino said. The increased supervision complies with standards set by international standard-setting bodies such as the Financial Action Task Force, to ensure relevant corporate information, including beneficial ownership information in the GIS, is readily available within the agency.

Failure to comply with reportorial requirements will subject the erring company to penalties ranging from monetary penalties, placement under delinquency status and suspension and revocation of certificate of incorporation. “We reiterate our reminder to corporations to avail of the SEC Amnesty Program now, to avoid getting their certificates of incorporation revoked, or to avoid being placed under delinquent status,” Aquino said. Corporations that fail to avail of the amnesty will likewise incur higher fines, as the SEC will be implementing an updated scale of fines and penalties for reportorial requirements on November 7. Applications for the amnesty program have been extended until November 6 and the submission of the requirements until December 4, per SEC Memorandum Circular 17 (series of 2023).

Isuzu Batangas re-launches improved IOS dealership

SUZU Gencars Inc., in partnership with Isuzu Philippines Corp. (IPC), celebrated on October 18, 2023, the relaunching of Isuzu Batangas in Santo Tomas, which was improved to conform with the brand’s design philosophy, the Isuzu Outlet Standard (IOS). With the dealership’s improvements, Isuzu Batangas is better equipped to provide the best customer service, ensuring an enhanced buyer journey. The relaunch of Isuzu Batangas was attended by Isuzu Philippines Corp. and Isuzu Gencars executives. IPC President Tetsuya Fujita and Gencars Chairman and CEO D. Edgard A. Cabangon initiated the ribboncutting ceremony. Isuzu Batangas is Gencars’ second branch to formally adopt to the IOS, following the relaunch in 2022 of the company’s maiden branch, Isuzu Makati. The renovation revamped the exterior facade, showroom, sales office, service center, and the customer’s lounge in accordance with the IOS design. The facade of the dealership now displays a sleek black paint that complements the signature Isuzu red, which was previously the main color of dealerships. This black color palette extends inside the showroom, providing a modern atmosphere. The ceremony began with a thanksgiving mass led by Rev. Fr. Bimbo Pantoja, who shared that he is an avid fan of Isuzu vehicles and has been a valued client of Isuzu Batangas for many years. IPC President Tetsuya Fujita expressed his gratitude and con-

Photo shows (left to right): Arch. Rafael Tecson of RDB Tecson and Associates, contractor of the Isuzu Gencars IOS project; Giannina Eunice A. Cabangon, Isuzu Gencars Operations Executive; Lerma O. Nacnac, Isuzu Gencars President; Fumihiro Ishii, IGSC President; D. Edgard A. Cabangon, Isuzu Gencars Chairman and CEO; Rev. Fr. Bimbo Pantoja; Tetsuya Fujita, IPC President; Shojiro Sakoda, IPC Executive Vice President; Rino S. Guevara, Isuzu Batangas General Manager; and, Yasuhiko Oyama, IPC Vice President for Sales Division.

gratulated Gencars executives and staff of Isuzu Batangas. “A leader of more than 45 years, Gencars has been providing the best sales and after-sales service to our customers in different areas here in Luzon, giving highest priority to the experience and satisfaction of customers, which is why—without a doubt—Gencars has gained thousands of loyal customers nationwide,” Fujita said. Isuzu Gencars Chairman D. Edgard Cabangon thanked IPC for their continued support, and shared the plans of the Isuzu Gencars group in the coming years. “Our new expansive

showroom and service center in our new location in San Pablo, Laguna, is set to open its doors very soon, and it, too, will exhibit the Isuzu Outlet Standard. A new showroom will also rise in Naga City next year. In addition to this, we are working on remodeling our other networks with the Isuzu Outlet Standard,” Cabangon said.“We share a deep-rooted partnership with Isuzu Philippines Corporation, and it is our shared vision to enhance the journey of every individual who steps into our dealerships. With our newly-revamped and IOS compliant Isuzu Batangas, we are confident that our loyal patrons, as well as those

who are visiting us for the first time, will marvel at the upgrades we have made, in addition to the outstanding products and services we offer,” Isuzu Gencars President Lerma O. Nacnac said during the ceremony. Isu zu Genc a rs O perat ions Executive Giannina Eunice A. Cabangon, on the other hand, expressed the company’s excitement to welcoming valued clients, “We look forward to welcoming you, our valued clients to our redefined dealership, where quality, excellence, and customer satisfaction reign supreme,” she shared.

SM Prime wins five GA awards

HOPPING mall operator SM Prime Holdings Inc. has received the Five Golden Arrow (GA) Award from the Institute of Corporate Directors (ICD) Inc. at the Asean Corporate Governance Scorecard (ACGS) GA recognition ceremonies held last month. “This ICD award will continuously serve as our inspiration to proactively engage in corporate governance best practices as we address to the ever-changing business landscape in the Philippines and in the region,” John Nai Peng C. Ong, Chief Finance Officer of SM Prime, said. The GA recognition is given to publicly listed companies and insur-

ance firms in the Philippines based on the ACGS and CGS assessment results wherein five levels of performance in corporate governance will be conferred. Each ascending level is depicted by an increase in the number of golden arrows. The Five Golden Arrow Recognition, the highest corporate governance distinction, is presented to companies that achieved a score of 120 to 130 points using the 2022 ACGS and CGS assessments. SM Prime earlier said it had a P19.4 billion in net income for the first half of the year through June, some 38 percent higher than P14.1 billion in profits last year.

Revenues grew 29 percent for the period to P59.9 billion from the previous P46.3 billion. For the second quarter alone, the company reported a 49-percent increase in net income to P10 billion from P6.7 billion last year. This is on the back of a 39 percent growth in consolidated revenues to P31.2 billion from P22.5 billion last year. “The strong performance of SM Prime’s main business units in the first half of 2023, led by its malls and primary residences, amplifies its commitment to be a driver of growth in the local property industry. We will continue to be strategic in expanding our footprints and operations across

different localities where we can continue to be partners for growth and progress,” SM Prime president Jeffrey Lim said. SM Prime’s Philippine mall business revenues posted a 30 percent growth in the second quarter to P16.1 billion from P12.4 billion last year. VG Cabuag

PSE to formally start short selling on Nov 6

By VG Cabuag @villygc

HE short selling program of the Philippine Stock Exchange (PSE) Inc. will be formally launched November 6, the bourse announced last Friday. The official go-live date was moved from its original October 23 schedule to give market participants more time to prepare and comply with securities borrowing and lending and short selling requirements, according to the PSE. PSE President and CEO Ramon S. Monzon said that “the implementation of short selling is an important milestone for the Philippine stock market.” “The ability to take short positions will provide investors a tool to hedge their investments, which hopefully will help attract foreign investors back to our market,” Monzon added. “Short selling is also an essential component to our securities borrowing and lending program and should generate increased trading activity as more shares are made available through lending.” A total of 53 securities will initially be eligible for short selling. These securities are the constituents of the PSE index, the MidCap and Dividend Yield indices, as well as an exchange traded fund. The list of eligible securities will be updated when there are changes in the composition of the said indices. Earlier this month, the bourse

announced the effectivity of the PSE “Guidelines for Short Selling Transactions.” The PSE earlier said that shorting of stocks can only be limited to as much as 10 percent of its outstanding shares. An excess of the threshold will automatically be excluded from the list until its short interest ratio falls back within prescribed limits. The PSE also noted the approval by the Securities and Exchange Commission (SEC) of offshore collateral for SBL in May while the Bureau of Internal Revenue accepted the filing and registration of the Global Master Securities Lending Agreement. The SEC earlier said it is banking on the potential of short selling to boost trading activity in the country’s equities market. “We are pushing to align the short selling environment with the major Asian markets, which has the potential to promote liquidity, stabilize the market, protect investors and further unlock the value of shares of Philippine cor porations,” SEC Chairman Emilio B. Aquino said. The SEC has paved the way for short selling in the country by issuing the relevant rules as early as 2018, when it approved the PSE’s guidelines on short-selling transactions. It has since worked together with the PSE and market participants towards ensuring that they are ready for the implementation of the guidelines.

Solid-waste processor starts supply of low-carbon refuse-derived fuel By Lenie Lectura @llectura

subsidiary of Razon-led Prime Infrastructure Capital Inc. has started supplying low-carbon refuse-derived fuel (RDF) produced from processed municipal solid waste in Cebu. Prime Integrated Waste Solutions Inc. (PWS) receives and processes around 1,000 tons of municipal solid waste daily. Prime Infra President and CEO Guillaume Lucci said operationalizing the recyclables business through RDF production is part of PWS’s transformation strategy focused on creating value from waste. “PWS was established with the strategic objective of significantly reducing landfill waste to 20 percent or less through modern waste management and resource recovery solutions,” Lucci said. “By harnessing the potential of RDF, we convert waste into a valuable resource, creating a direct positive impact on the environment and the community.” The waste that comes into the facility is segregated to recover recyclable waste, which is then classified further into RDF material and carefully sorted to assure the material’s quality is up to par with the standards set. These RDF materials are shredded to reduce the size of the material, and eventually fed into the facility’s baling machine to compact and wrap the shredded waste for safer transport

and delivery. The supply of RDF marks the initial phase in Prime Infra’s waste to value activities. The PWS Cebu facility will soon be semi-automated with investments in high-tech equipment for waste segregation and storage. The equipment will not only aid in an efficient sorting and recovery process but will also support Prime Infra’s objective of converting recovered resources into sustainable fuels such as pyrolysis oil, natural gas, and green methanol. A unit of Prime Infra is engaged in natural gas exploration and development. Prime Energy Resources Development B.V. owns the 45-percent operating interest in Service Contract 38, or the Malampaya deep water gas-to-power project, supplying 20 percent of Luzon’s electricity requirements. “With new and state-of-the-art equipment coming in, our goal in terms of RDF supply from our Cebu facility is to increase capacity to at least 100 tons per day,” said Prime Infra Waste Sector Lead Carla Angelica Peralta. PWS is also expanding its operations by developing other facilities across the country. “RDF production in our waste facilities is anchored on Prime Infra’s sustainability agenda to deliver infrastructure that supports the decarbonization goals of our customers and other stakeholders,” added Lucci.

A12 Monday, October 23, 2023

Aug gross borrowings dip 7% on high asking yields

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE state’s gross borrowings in August declined by an annualized rate of nearly 7 percent to P124.056 billion as the national government had a hard time securing financing from the domestic market due to investors’ high asking yields.

Latest Bureau of the Treasury (BTr) data showed that the national government borrowed P9.282 billion less in August compared to the P133.338 billion total borrowings it made in the same month of last year. Treasury data showed that the over 400 percent increase in the state’s external gross borrowings was unable to offset the 11.09-percent drop in its domestic gross borrowings. The national government’s gross external borrowings quintupled to P6.682 billion from P1.317 billion

last year, according to the Treasury. The entire recorded external borrowings in August came from Project Loans. The national government posted P4.741 billion in external debt payments, resulting in a net external borrowing of P1.941 billion. Domestic gross borrowings in August, meanwhile, declined by 11.09 percent to P117.374 billion from P132.021 billion last year. Treasur y data showed that the bulk of the borrowings came from fixed-rate Treasury bonds at P110.235 billion while the re-

maining P7.139 billion were raised through Treasury bills. Cumulatively, the national government borrowed P1.678 trillion from January to August, 21.75 percent higher than the P1.37 trillion it recorded in the same eight-month period last year. Broken down, about P1.284 trillion came from the domestic market or around 76 percent of the total gross borrowings in line with the administration’s borrowing matrix. The remaining P394.562 billion came from external sources. Treasur y data showed that both external and domestic gross borrowings rose by double-digit

growth rates on an annual basis during the eight-month period. Exter na l gross borrow ings from January to August increased by 16.8 percent from last year’s P337.794 billion. Domestic gross borrowings, meanwhile, expanded by 23.36 percent from P1.041 trillion recorded during the reference period last year. The national government’s gross borrowings from January to August already accounts for 76 percent of its programmed borrowing this year of about P2.207 trillion. For the whole year, the national government plans to borrow P2.207 trillion with a 75:25 mix in favor of domestic sources.

SC ISSUES RULES ON COURTS’ SENSITIVE DATA PROTECTION

HE Supreme Court has issued guidelines on how judiciary officials and employees can protect courts’ sensitive data against online security breach and ransomware attacks. Through Administrative Order No. 150-2023 (Proper Cyber Hygiene in Judiciary), Acting Chief Justice Marvic Leonen issued guidelines to be followed on email safety, password security, software and system updates, data backup, safe internet usage, device security, and suspicious activity reports in order to enhance the courts’ cybersecurity practices, protect sensitive data, and minimize the risk of cyber threats. The SC also warned court officials and employees of the risks of using digital applications that employ artificial intelligence (AI) to enhance portraits of users. “These digital applications collect users’ data and create digital images that mimic an individual’s looks and speech, which can be used to create fake profiles that can lead to identity theft, social engineering, and phishing attacks,” the SC explained. The SC warning comes on the heels of a similar memorandum issued to all members of the defense-security estab-

lishment by Defense Secretary Gilberto Teodoro Jr. On email safety, the Court advised justices, judges, court officials and personnel to scrutinize sender’s email address carefully, use longer passwords, update operating systems of their devices and to always back up their data to ensure their recovery in case of loss. The guidelines were issued as an offshoot of the recent ransomware attacks involving Philippine Health Insurance Corporation (PhilHealth). To prevent attacks through phishing emails, the guidelines recommend that all court personnel examine carefully the legitimacy of the sender’s email address for misspellings or inconsistencies and to verify links prior to clicking. “Be cautious with urgent messages, as phishers often create a sense of urgency in their emails; check for generic greetings; double-check email attachments by scanning the same for viruses; and report suspicious emails as spam,” the SC said. The Court also instructed court officials and personnel to avoid using personal information and dictionary words in creating passwords. See “SC,” A2

‘Cybersecurity experts Biz groups write Marcos, pool must protect air support data, infra, investments’ for Bautista By Rizal Raoul S. Reyes @brownindio

NTERNATIONAL think tank Stratbase Institute on Sunday urged the administration of President Ferdinand R. Marcos, Jr. to develop a substantial pool of cybersecurity experts to bolster the country’s cybersecurity capabilities in protecting its data, investment, and critical infrastructure. “It’s essential to enhance our existing talent pool and elevate the expertise of our IT professionals. We should also consider engaging the services of ethical hackers to bolster our cybersecurity frameworks,” Stratbase Group CEO and Founder Prof. Victor Andres Manhit said in a press statement. Manhit pointed out that cyber criminals are becoming more sophisticated and cunning, and will immediately seize the opportunity when they see easy targets. It’s clear, he added, “that fortifying our cyber defenses should be a priority, particularly for critical infrastructure across both public and private sectors. This proactive approach to cybersecurity is a necessary step in safeguarding against the ever-evolving threat of cybercrime.” In t he d ig ita l age,Manhit stressed that cybersecurity is a vital investment at all levels, as data breaches are committed on a regular basis. He said businesses must ensure uninterrupted operations and secure data, provide peace of mind and build trust with customers and stakeholders. According to a 2020 survey conducted by the International Trade Administration, 43 percent of private companies in the Philippines had increased their allocation for cybersecurity solutions. Despite this, according to Manhit, more has to be done. Moreover, only 27 percent of organizations in the Philippines have a “mature” level of readiness

to confront modern cybersecurity risks, according to the Cybersecurity Readiness Index released in March 2023 by information technology firm Cisco. Manhit also underscored the vital role of Chief Information Security Officers (CISO), for each agency or organization, mandated to maintain the most robust and appropriate protection from hackers and instilling a cyber hygienic culture to all its network users. However, there is a dearth of cybersecurity professionals with more than 2 million unfilled cybersecurity posts in Asia alone.

Spate of government attacks

IN recent weeks, Philippine government agencies have been on the receiving end of breaches starting from the attack on the Philippine Health Insurance Co. (PhilHealth) in September. The Medusa ransomware group demanded $300,000 —roughly P17 million -- and made PhilHealth data available on the dark web. PhilHealth, which admitted it had failed to renew its virus protection software, was only able to fully restore its services this week. Estimates place the number of affected users to between 13 million and 30 million. “Our government’s capacity to ward off such attacks is being tested, and we seem to be failing that test,” said Manhit. On October 7, the Philippine Statistics Authority suffered a leak in its Community-Based Monitoring System, even as the agency insisted that the CBMS constituted only a limited portion of its database. One week later, on October 15, a group that called themselves “MUSKETEERS” altered the website of the House of Representatives. The Senate likewise reported that its system had recently seen a spike in cyberattacks, though these were foiled.

By Andrea E. San Juan @andreasanjuan

USINESS groups are calling for the “speedy” resolution of the corruption issues hurled against Transportation Secretary Jaime Bautista, saying this is preventing the official from pursuing reforms which are “very critical” for the country’s supply and value chain. In a letter addressed to President Ferdinand R. Marcos, Jr. dated October 18, 2023 but was distributed to reporters on Saturday, the Philippine Chamber of Commerce and Industry (PCCI), Employers Confederation of the Philippines (ECOP), and the Philippine Exporters Confederation, Inc. (Philexport) expressed their “full support and confidence” in the leadership of Bautista amid the corruption allegations hurled against him. “As far as business is concerned, his was in fact one of the most credible appointments that the President has made, being aware of the value he brings into the Cabinet, the Department of Transportation and the country as a whole,” the letter read. The business groups described the head of the Transportation department as “low key but brilliant, visionary, hardworking and with the relevant technical, business and management experiences that span nearly five decades.” As to the initiatives of the embattled Transportation chief, the business groups highlighted that Bautista has “steered the modernization and other reforms in the Department to enable it to respond to domestic stakeholder needs and global developments.” They also underscored that the Transportation head was “largely credited for the turnaround of Philippine Airlines,” saying this is already considered a “massive accomplishment” especially in the context of trade, investments and tourism. See “Biz groups,” A2

Companies BusinessMirror

Monday, October 23, 2023

Car-makers forecast higher sales on ‘positive’ outlook

By Andrea San Juan

@andreasanjuan

HE Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said it is optimistic that the auto industry will achieve “full industry recovery” in 2023 as it revised its sales forecast from 395,000 to 423,000 units for the year on the back of “positive” consumer outlook. A joint report by the Campi and the Truck Manufacturers Association (TMA) showed that vehicle sales posted a 9.5-percent growth with 38,628 units sold in September 2023 from 35,282 units sold in the same month last year. Campi President Rommel R. Gutierrez underscored that the auto industry group recorded the highest

monthly sales performance in September. “We hope that a positive consumer outlook will be sustained in Q4,” Gutierrez added. The Campi chief noted that vehicle sales were sustained by promotional campaigns and new models launched in August. Gutierrez also said Campi revised its sales forecast for 2023 last month,

projecting a 20-percent growth from its 2022 actual sales performance. Members of Campi and TMA earlier expected sales to reach 10-percent to 15-percent higher from last year’s vehicle sales. Apart from the auto market remaining “resilient” since 2021, Gutierrez pointed out that current trend indicates that the industry “will breach the highest pre-pandemic sales performance and achieve full industry recovery in 2023.” In terms of vehicle segments, data from Campi and TMA showed that sales of passenger cars led the monthly sales growth in September 2023, which increased by 19.8 percent to 9,558 units. This was followed by light-duty trucks & buses, which grew by 21.7 percent compared to September last year; Asian Utility Vehicles at 14.9 percent; commercial vehicles at 6.5 percent; and, light commercial vehicles, which grew by 4.6 percent. In contrast, data from Campi and

TMA showed that there was a decline in both the sales of medium-duty trucks and buses, which declined by 2.4 percent to 325 units and heavyduty trucks and buses by 5.8 percent to 81 units. Meanwhile, Toyota Motor Philippines Corp. remained the market leader in the automotive industry with a 45.81-percent market share as it sold 144,232 units from January to September 2023. Mitsubishi Motors Philippines Corp. ranked second as it accounted for 18.44 percent share of the automotive market, selling 58,065 units in the nine-month period this year. Ford Motor Co. Phils. ranked third as its vehicle sales accounted for 7.3 percent share of the market, selling 23,091 units from January to September this year. In January to September, Campi and TMA data showed that vehicle sales grew by 26.9 percent to 314,843 units from the 248,154 units sold in the same period last year.

Pag-Ibig sees more members from Grab

N official of the Home Mutual Development Fund (HDMF), or Pag-Ibig Fund, expects more drivers commissioned by Grab PH Holdings Inc. to enroll as members of the state-run fund. This after the Transport Network Vehicle Service (TNVS) operator announced having “reinforced” its partnership with the Pag-IBIG Fund. The firm announced it is encouraging drivers to register as members of the Pag-IBIG to “empower them to secure their future” and gain “access to the many benefits and services offered” by the fund.

“We at Pag-IBIG Fund do all that we can to ensure that access to our benefits and programs remain inclusive. That is why we are happy that Grab Philippines shares our goal of improving the lives of their driver-partners by helping them gain social protection through Pag-IBIG Fund membership,” a statement quoted Alexander Hilario G. Aguilar, Pag-IBIG Fund Deputy CEO for Member Services, as saying. “In fact, thousands of Grab driver-partners have already registered as Pag-IBIG members, and now have secure savings and access to our home loan programs,” Aguilar added. “We expect this to further rise in the coming months as we continue to strengthen our partnership.” The official, however, didn’t disclose how many Grab drivers have signed up for membership into the Pag-Ibig Fund. Lorenz S. Marasigan

STOCK-MARKET OUTLOOK Last week

SHARE prices plunged last week as the main index lost 2 percent, amid ongoing geopolitical tensions in the Middle East and macro-economic headwinds. The main index gave up 123.44 points to close at 6,142.90. “From a technical standpoint, it is noticed that the market is having a hard time getting past its 50-day exponential moving average, implying that the line has been a strong dynamic resistance,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said. The volume of trade was still low, averaging at P4.15 billion. Foreign investors, which accounted for 61 percent of the trades, were net sellers at P1.35 billion. All other sub-indices closed on the red. The broader All Shares index gave up 55.15 points to close at 3,329.42 points. The Financials index fell 62.06 to 1,748.96. The Industrial index retreated 97.67 to 8,746.61. The Holding Firms index shed 75.07 to 5,870.31. The Property index was down 35.78 to 2,602.37. The Services index fell 24.60 to 1,506.73. And the Mining and Oil index plunged 830.36 to 10,175.11. For the week, losers outnumbered gainers 153 to 59 and 38 shares were unchanged. The top gainers were Keppel Philippines Holdings Inc. A and B shares, Manila Broadcasting Co., Philippine Infradev Holdings Inc., Manila Bulletin Publishing Corp., PH Resorts Group Holdings Inc., Filinvest Development Corp. and Benguet Corp. A and B. The top losers, meanwhile, were Medco Holdings Inc., Concrete Aggregates Corp. B, First Abacus Financial Holdings Corp., Metro Alliance Holdings and Equities Corp. A, Millennium Global Holdings Inc., Roxas Holdings Inc.and Semirara Mining and Power Corp.

This week

SHARE prices may still go on a downward streak this week as a geopolitical conflict in the Middle East remain will remain a major concern for investors. Tantiangco added that investors are also expected to monitor the Treasury yield movements in the US. “A further rise in the yields may pull the local market lower. The risk of a further escalation of the Israel-Hamas war is also expected to continue weighing on the market,” he explained. On the other hand, a decline in the US Treasury yields and a de-escalation of the tensions in the Middle East is expected to spur optimism in the local bourse. “As for local catalysts, investors are expected to wait for our third-quarter corporate results to see how the corporate sector has been amid the lingering macroeconomic challenges,” Tantiangco said. 2TradeAsia said the Israel-Hamas war have caused safe havens of assets to enjoy extraordinary flows and regional currencies have fluctuated heavily over the past week. “Expect more protracted ‘real world’ impacts over the next few weeks, including possible oil price shocks, supply disruption from clogged Eurasian ports, among others,” the broker said. Consumer retail giants Robinsons Retail Holdings inc. and Wilcon Depot Inc. will release results this week “It will be interesting how data will converge or diverge with priced-in pessimism in consumer-level expenditure, despite higher consumer confidence observed by the Bangko Sentral ng Pilipinas in the third quarter,” it said. Tantiangco said chart-wise, the market may retest the 6,150 level. If the market is able to get back above the said line, the market is seen to continue trading with 6,150 as its support, the 50-day moving average as its immediate dynamic resistance, and 6,400 as its major resistance. If the market is unable to get back above 6,150 however, it may trade within the 6,000 - 6,150 range moving forward, he said.

Stock picks

MAYBANK Securities Inc. gave a buy rating on Globe Telecom Inc. as the company leads in the final tally of subscribers past the deadline of the mandatory SIM registration. Globe has 54 million subscribers, followed by PLDT Inc. with 53 million and DITO with 8 million. “This translates to Globe and PLDT cornering 54 percent and 46 percent, respectively, of mobile industry revenues,” Maybank Securities said. “As Globe’s first half earnings were within our expectations, we make no changes to our 2023/2024 earnings forecasts. We roll forward our valuation to mid-2024 and lift our target price to P2,470. Maintain buy as upside remains attractive and as the growth prospects for Globe’s non-core businesses are intact,” it said. Globe’s share price closed last week at P1,800 apiece. Meanwhile, Maybank Securities also gave a buy rating on the stock of Puregold Price Club Inc. as its first-mover location, more established presence and scale advantages should mitigate competitive risks posed by Landers Superstore. “Landers Superstores, a membership warehouse club targeting high income earners, opened its first store in Metro Manila in 2016 and has since grown to 11 stores in NCR, Luzon and Visayas. It is owned by Luis Yu Jr., the founder of mass housing developer 8890. Landers directly competes with Puregold’s S&R,” the broker said. Puregold’s share price is now trading at 8.4 times. “We retain our buy premised on its strong brand equity and stable execution strategies,” Maybank Securities said. Puregold’s share price closed Friday at P28.90 apiece. VG Cabuag

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

October 20, 2023

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

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

295,943,105 372,915 196,067,355 1,794,385 3,669,288 124,121,088.50 398,160 972,840 2,119,772 70,340 4,259,703 18,108,240.50 1,450 1,094,300 67,690 6,300 5,490 1,254,000 504,836 497,750 8,360

-117,166,554 55,566,275 6,100 2,484,152.00 -36,399,743 33,660 -2,400 -859,382 727,787 -441,000 11,400 80,383 484,500 -

INDUSTRIAL ACEN CORP 5.08 5.09 5.07 5.09 5 5.08 7,357,500 37,178,431 0.56 0.58 0.61 0.61 0.56 0.56 220,000 123,450 ALSONS CONS ALTERNERGY HLDG 0.85 0.86 0.88 0.88 0.85 0.86 789,000 686,730 35.55 35.85 36.25 36.8 35.55 35.55 3,215,400 116,650,995 ABOITIZ POWER RASLAG 1.36 1.39 1.43 1.43 1.36 1.39 221,000 305,990 0.197 0.2 0.196 0.204 0.195 0.197 670,000 132,040 BASIC ENERGY FIRST GEN 18.02 18.2 18 18.26 18 18.02 151,700 2,757,694 60.7 62 60.9 60.9 60.6 60.6 46,140 2,796,096 FIRST PHIL HLDG MERALCO 379 379.8 381 381 375 379 241,030 91,244,344 17.86 17.98 18.04 18.38 17.78 17.86 803,400 14,434,726 MANILA WATER PETRON 3.4 3.41 3.39 3.41 3.39 3.41 1,096,000 3,735,760 4.32 4.62 4.33 4.33 4.32 4.32 105,000 454,270 PETROENERGY PHX PETROLEUM 5.74 6 6 6 6 6 26,600 159,600 5.85 6 6.03 6.03 6.03 6.03 8,100 48,843 REPOWER ENERGY SYNERGY GRID 7.81 7.83 7.85 7.89 7.78 7.81 574,400 4,482,519 13.1 13.26 13.08 13.3 13.08 13.26 49,200 651,498 SHELL PILIPINAS SPC POWER 7.75 8 7.9 8 7.75 7.79 97,200 759,484 14.4 15.48 14.4 14.4 14.4 14.4 3,900 56,160 VIVANT AGRINURTURE 2.47 2.49 2.49 2.55 2.37 2.47 4,597,000 11,398,590 1.94 1.95 1.94 1.94 1.94 1.94 1,000 1,940 AXELUM CENTURY FOOD 29.1 29.6 30 30 29.1 29.1 523,400 15,374,535 7.4 7.7 7.74 7.74 7.4 7.4 24,300 181,854 DEL MONTE DNL INDUS 6.35 6.38 6.34 6.45 6.31 6.35 1,384,200 8,866,501 20.75 20.8 20.8 20.95 20.8 20.8 956,200 19,964,635 EMPERADOR SMC FOODANDBEV 52 52.1 51.6 52.2 51.05 52 17,000 879,775.50 0.64 0.65 0.67 0.67 0.65 0.65 15,344,000 10,034,540 FIGARO COFFEE FRUITAS HLDG 1.08 1.09 1.11 1.12 1.06 1.08 18,318,000 19,852,660 168 170 170 170 169 170 360 61,000 GINEBRA JOLLIBEE 215.2 216.6 220.8 220.8 215.2 215.2 1,248,650 269,570,088 1.42 1.43 1.44 1.44 1.41 1.42 935,000 1,335,020 KEEPERS HLDG MACAY HLDG 6.96 7.5 7.5 7.5 7.5 7.5 52,300 392,250 4.2 4.3 4.3 4.3 4.19 4.3 40,000 171,330 MAXS GROUP MG HLDG 0.1 0.109 0.101 0.101 0.1 0.1 2,990,000 299,290 8.45 8.47 8.57 8.57 8.37 8.45 3,085,400 26,051,623 MONDE NISSIN SHAKEYS PIZZA 9.4 9.55 9.3 9.4 9.3 9.4 166,300 1,547,390 0.495 0.5 0.495 0.495 0.495 0.495 85,000 42,075 ROXAS AND CO RFM CORP 3.05 3.1 3.1 3.14 3.01 3.1 1,686,000 5,233,500 0.053 0.062 0.053 0.053 0.053 0.053 300,000 15,900 SWIFT FOODS UNIV ROBINA 113.2 113.3 113.7 114.1 112.8 113.2 1,664,950 188,676,848 0.52 0.54 0.54 0.54 0.54 0.54 259,000 139,860 VITARICH CONCRETE A 40 44.55 40.05 40.05 40.05 40.05 200 8,010 38.5 49.85 37.65 38.5 37.5 38.5 1,200 45,375 CONCRETE B CEMEX HLDG 0.88 0.89 0.9 0.91 0.88 0.88 2,447,000 2,197,640 0.87 0.89 0.86 0.88 0.86 0.88 1,760,000 1,536,550 EC VULCAN CORP EEI CORP 5.2 5.22 5.1 5.38 5.06 5.2 1,303,500 6,811,961 3.14 3.2 3.2 3.2 3.14 3.2 189,000 597,160 MEGAWIDE PHINMA 20 20.35 20 20 20 20 164,700 3,294,000 0.49 0.55 0.5 0.55 0.5 0.55 6,000 3,050 TKC METALS CROWN ASIA 1.51 1.57 1.53 1.58 1.51 1.51 82,000 124,810 0.76 0.83 0.76 0.83 0.76 0.83 14,000 11,340 EUROMED MABUHAY VINYL 5.5 5.6 5.79 5.79 5.6 5.6 3,700 20,990 5.18 5.22 5.19 5.19 5.19 5.19 2,000 10,380 PRYCE CORP CONCEPCION 14.52 15.24 15.24 15.24 15.24 15.24 600 9,144 0.41 0.415 0.425 0.44 0.41 0.415 35,220,000 14,898,600 GREENERGY INTEGRATED MICR 3.65 3.71 3.71 3.71 3.71 3.71 26,000 96,460 1.22 1.23 1.3 1.3 1.2 1.22 5,761,000 7,082,550 IONICS SFA SEMICON 2.12 2.18 2.16 2.19 2.12 2.12 602,000 1,299,940 1.85 1.87 1.94 1.95 1.83 1.85 787,000 1,467,900 CIRTEK HLDG

6,475,119 7,280 -34,715,805 -56,358.00 20,486,974 -5,526,238 3,365,850 -99,600 -456,906 354,900 -3,616,990 -3,107,165 -97,844 -2,440,156 -9,403,285 -300,244.50 -72,570 -172,810 -1,700 -171,351,484 22,500 -98,900 -6,714,447 1,297,350 -479,310 28,221,949 119,140 -4,450 -2,655 -3,046,350 -99,230 -440,950 -

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG COSCO CAPITAL DMCI HLDG FJ PRINCE A FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

-1,168,220 -3,018,635 -8,256,025 -1,915,584.00 51,700 -124,470 1,738,592 -12,226,270 6,819,050 -30,350.00 -2,587,607 9,900 12,736,940 -354,970 75,000

HOLDING & FRIMS

129.4 7.15 105.3 30.4 9.42 51.85 8.4 18.6 54.5 23.45 77 60.55 1.42 2.9 2.8 0.5 1,020 0.38 173.1 2,550 0.76

1.09 615 48.1 11.54 10.96 0.46 4.75 10.24 1.64 0.185 543 3.57 38 5.9 6 0.45 4.4 8.83 0.11 1.02 2.9 0.9 815.5 102.6 114 0.23

130 7.4 106.1 30.45 9.51 52.4 8.5 18.64 55 23.95 78 60.6 1.45 2.95 2.9 0.71 1,098 0.465 174 2,650 0.81

1.1 616 48.75 11.56 11 0.48 4.89 10.26 2.24 0.27 545 3.76 38.2 6.48 7.14 0.495 4.5 8.88 0.164 1.29 2.91 0.96 817 102.7 119 0.26

131.1 7.25 106.5 30.4 9.53 52.6 8.4 18.7 55 23.4 77.05 61.95 1.45 2.9 2.99 0.7 1,098 0.38 175 2,650 0.76

1.11 616 49.15 11.64 11 0.48 4.8 10.3 1.62 0.2 560 3.56 38.2 6 7.2 0.49 4.4 8.81 0.153 1.05 2.95 0.91 819.5 104 119.9 0.26

131.2 7.4 106.7 30.5 9.58 52.85 8.4 18.7 55 24 78.45 62.95 1.45 2.95 2.99 0.7 1,098 0.38 175.2 2,650 0.76

1.11 616 49.5 11.64 11 0.48 4.89 10.32 1.62 0.2 560 3.56 38.5 6.48 7.2 0.495 4.4 8.89 0.153 1.05 2.96 0.91 819.5 104 119.9 0.26

129.4 7.25 105.2 30.4 9.34 51.85 8.4 18.5 54.45 23.4 77 60.4 1.45 2.9 2.9 0.7 1,098 0.38 174 2,550 0.76

1.09 607 48.1 11.52 10.94 0.48 4.75 10.16 1.62 0.185 542.5 3.56 37.9 6 5.51 0.49 4.31 8.81 0.15 1.05 2.9 0.9 815 102.7 112.9 0.25

129.4 7.4 105.3 30.45 9.51 51.85 8.4 18.6 54.5 23.95 77 60.6 1.45 2.95 2.9 0.7 1,098 0.38 174 2,550 0.76

1.1 615 48.1 11.56 11 0.48 4.89 10.26 1.62 0.185 545 3.56 38 6.48 5.51 0.495 4.4 8.83 0.15 1.05 2.91 0.9 817 102.7 112.9 0.25

2,280,060 50,400 1,859,160 59,000 387,300 2,379,510 47,400 52,500 38,920 3,000 55,260 297,290 1,000 372,000 23,000 9,000 5 3,300,000 2,890 195 11,000

8,166,000 127,960 476,300 966,900 499,100 2,390,000 44,000 8,091,600 8,000 980,000 119,400 305,000 898,900 116,100 16,200 20,000 174,000 2,116,400 300,000 10,000 191,000 2,379,000 154,340 24,390 1,250 450,000

8,970,500 78,533,655 23,092,150 11,186,880 5,460,874 1,147,200 211,480 82,857,904 12,960 182,800 65,564,950 1,085,800 34,198,630 696,696 89,431 9,850 750,980 18,712,260 45,200 10,500 560,200 2,147,850 126,034,085 2,507,736 141,825 113,000

PROPERTY ARTHALAND CORP 0.445 0.46 0.445 0.445 0.445 0.445 20,000 8,900 28.65 28.8 29.1 29.3 28.6 28.65 4,400,600 126,696,710 AYALA LAND AYALA LAND LOG 1.78 1.79 1.82 1.82 1.79 1.79 214,000 385,770 8.78 9.48 8.76 8.78 8.76 8.77 700 6,137 ALTUS PROP ARANETA PROP 1.01 1.03 1.04 1.04 1.02 1.02 307,000 314,520 33.65 33.8 33.8 34 33.3 33.65 904,500 30,536,805 AREIT RT A BROWN 0.67 0.7 0.67 0.67 0.67 0.67 97,000 64,990 0.73 0.74 0.73 0.74 0.72 0.72 200,000 145,800 CITYLAND DEVT CEB LANDMASTERS 2.51 2.52 2.52 2.55 2.51 2.52 226,000 568,900 0.31 0.315 0.315 0.315 0.315 0.315 1,320,000 415,800 CENTURY PROP CITICORE RT 2.53 2.54 2.53 2.55 2.53 2.53 459,000 1,166,270 6.81 6.98 6.98 7.02 6.81 6.81 148,200 1,013,769 DOUBLEDRAGON DDMP RT 1.27 1.28 1.28 1.29 1.27 1.28 639,000 817,070 6.3 6.4 6.29 6.4 6.29 6.3 10,500 66,166 DM WENCESLAO EMPIRE EAST 0.143 0.144 0.15 0.153 0.144 0.144 14,670,000 2,150,330 0.285 0.295 0.28 0.295 0.28 0.295 290,000 84,250 EVER GOTESCO FILINVEST RT 2.99 3 3 3 2.99 2.99 379,000 1,136,140 0.6 0.61 0.61 0.61 0.6 0.61 1,502,000 911,360 FILINVEST LAND GLOBAL ESTATE 0.79 0.85 0.85 0.85 0.85 0.85 3,000 2,550 801 810 791 849.5 791 810 61,780 50,680,805 GOLDEN MV PHIL INFRADEV 0.56 0.59 0.59 0.6 0.56 0.59 424,000 247,680 0.78 0.8 0.8 0.8 0.78 0.78 3,000 2,380 CITY AND LAND MEGAWORLD 2.01 2.02 2.01 2.03 2.01 2.01 11,213,000 22,593,380 0.199 0.2 0.195 0.208 0.195 0.199 19,130,000 3,857,870 MRC ALLIED MREIT RT 12.18 12.24 12.3 12.3 12.18 12.2 5,048,100 61,588,060 0.3 0.33 0.305 0.305 0.305 0.305 60,000 18,300 PHIL ESTATES PREMIERE RT 1.51 1.55 1.55 1.55 1.52 1.52 282,000 429,320 2.83 3.04 2.79 3.06 2.79 3.04 20,000 58,450 PRIMEX CORP RL COMM RT 4.76 4.84 4.79 4.86 4.75 4.76 2,626,000 12,546,880 14.72 14.74 14.68 14.8 14.66 14.72 1,153,900 16,973,884 ROBINSONS LAND PHIL REALTY 0.153 0.16 0.16 0.16 0.16 0.16 70,000 11,200 1.37 1.4 1.38 1.38 1.35 1.37 512,000 697,800 ROCKWELL SHANG PROP 3.5 3.58 3.57 3.59 3.5 3.58 344,000 1,206,530 3.02 3.18 3.17 3.18 3.17 3.18 5,000 15,860 STA LUCIA LAND SM PRIME HLDG 30.7 31 31.3 31.3 30.65 30.7 6,661,400 205,607,080 0.37 0.41 0.36 0.36 0.36 0.36 30,000 10,800 SOC RESOURCES SUNTRUST RESORT 0.78 0.81 0.8 0.8 0.8 0.8 100,000 80,000 1.65 1.66 1.66 1.67 1.65 1.65 766,000 1,265,250 VISTA LAND VISTAREIT RT 1.65 1.68 1.65 1.69 1.65 1.65 91,000 150,410 SERVICES ABS CBN 3.82 3.9 3.92 3.92 3.75 3.9 126,000 485,240 8.23 8.29 8.35 8.35 8.17 8.3 237,400 1,955,816 GMA NETWORK MANILA BULLETIN 0.223 0.244 0.221 0.249 0.221 0.249 30,000 6,910 6.34 8.2 8.2 8.99 8.2 8.2 1,100 9,726 MLA BRDCASTING GLOBE TELECOM 1,795 1,800 1,818 1,818 1,790 1,800 36,040 64,966,010 1,213 1,217 1,223 1,223 1,201 1,217 67,275 81,631,550 PLDT APOLLO GLOBAL 0.015 0.016 0.016 0.017 0.015 0.016 151,700,000 2,428,500 9.25 9.33 9.58 9.58 9.15 9.25 15,523,400 144,025,515 CONVERGE DFNN INC 3.07 3.14 3.07 3.07 3.07 3.07 10,000 30,700 3.42 3.45 3.66 3.7 3.42 3.42 17,271,000 61,259,620 DITO CME HLDG NOW CORP 1.41 1.42 1.39 1.47 1.35 1.41 4,461,000 6,307,540 0.149 0.15 0.15 0.15 0.149 0.149 20,000 2,990 TRANSPACIFIC BR ASIAN TERMINALS 15 15.4 14.72 15.4 14.72 15.4 2,800 41,940 1.32 1.35 1.29 1.36 1.29 1.32 207,000 277,990 CHELSEA CEBU AIR 33.1 33.2 33.1 33.2 33.05 33.1 149,900 4,959,300 207.2 208.8 213.4 213.4 207.2 207.2 838,840 174,350,926 INTL CONTAINER LBC EXPRESS 16.94 18.94 16.94 16.94 16.94 16.94 700 11,858 0.55 0.67 0.56 0.56 0.55 0.55 93,000 51,240 LORENZO SHIPPNG MACROASIA 3.92 3.95 4 4 3.92 3.95 192,000 759,670 5.2 5.28 5.2 5.2 5.2 5.2 1,400 7,280 PAL HLDG HARBOR STAR 0.75 0.77 0.74 0.76 0.74 0.76 80,000 60,400 1.78 1.8 1.8 1.8 1.8 1.8 250,000 450,000 ACESITE HOTEL CENTRO ESCOLAR 8.52 8.92 8.5 8.5 8.5 8.5 179,700 1,527,450 561 600 556 630 540 560.5 1,790 1,002,865 FAR EASTERN U IPEOPLE 6.56 7.46 7.46 7.46 6.54 7.46 609,700 3,988,082 0.4 0.41 0.415 0.415 0.4 0.4 2,640,000 1,068,600 STI HLDG BELLE CORP 1.15 1.2 1.2 1.21 1.15 1.2 871,000 1,012,350 9.92 9.99 10.1 10.1 9.92 9.92 3,822,000 38,108,191 BLOOMBERRY PACIFIC ONLINE 3.6 3.69 3.8 3.8 3.56 3.69 82,000 296,250 0.91 0.93 0.96 0.96 0.88 0.91 6,312,000 5,789,430 PH RESORTS GRP PREMIUM LEISURE 0.57 0.58 0.56 0.58 0.56 0.57 7,698,000 4,387,380 6.68 6.69 6.69 6.7 6.6 6.68 812,200 5,403,170 DIGIPLUS PHILWEB 1.84 1.85 1.89 1.89 1.8 1.84 444,000 816,800 0.177 0.18 0.181 0.181 0.176 0.18 2,220,000 395,360 ALLDAY ALLHOME 1.62 1.63 1.65 1.68 1.62 1.63 1,135,000 1,856,890 1.19 1.2 1.19 1.19 1.16 1.19 220,000 259,490 METRO RETAIL PUREGOLD 28.9 29 29.2 29.75 28.75 28.9 1,604,200 46,473,505 43 44 45.35 45.5 42.6 43 524,300 22,935,840 ROBINSONS RTL PHIL SEVEN CORP 79 80 76.1 79 76.1 79 94,850 7,493,121 2.76 2.79 2.81 2.84 2.76 2.79 402,000 1,120,350 SSI GROUP UPSON INTL CORP 1.64 1.69 1.72 1.72 1.68 1.7 124,000 210,540 21.55 21.95 22.05 22.1 21.55 21.95 705,300 15,450,100 WILCON DEPOT APC GROUP 0.229 0.236 0.23 0.242 0.227 0.239 440,000 101,180 3.7 4.5 3.8 3.8 3.72 3.72 5,000 18,790 IPM HLDG MEDILINES 0.405 0.425 0.405 0.415 0.405 0.41 410,000 167,800 0.195 0.2 0.199 0.2 0.195 0.2 150,000 29,790 PRMIERE HORIZON MINING & OIL APEX MINING 2.58 2.59 2.65 2.75 2.57 2.58 10,742,000 28,619,040 ATLAS MINING 3.32 3.43 3.31 3.33 3.31 3.32 1,064,000 3,533,310 4.65 4.67 4.5 4.71 4.5 4.65 619,000 2,879,480 BENGUET A BENGUET B 4.6 4.67 4.63 4.73 4.5 4.65 136,000 633,530 3.11 3.2 3.15 3.2 3.15 3.2 200,000 634,670 CENTURY PEAK FERRONICKEL 2.61 2.62 2.63 2.63 2.62 2.62 797,000 2,090,600 0.038 0.04 0.04 0.04 0.038 0.038 500,000 19,400 GEOGRACE LEPANTO A 0.088 0.09 0.09 0.09 0.088 0.09 940,000 84,420 0.085 0.091 0.087 0.087 0.085 0.085 3,190,000 273,690 LEPANTO B MANILA MINING A 0.0045 0.0046 0.0046 0.0046 0.0045 0.0045 22,000,000 101,000 0.0048 0.0053 0.0048 0.0048 0.0048 0.0048 65,000,000 312,000 MANILA MINING B MARCVENTURES 0.98 1 1 1.01 0.98 1 631,000 630,930 5.5 5.58 5.7 5.7 5.5 5.58 3,992,200 22,236,197 NICKEL ASIA ORNTL PENINSULA 0.68 0.7 0.7 0.7 0.7 0.7 1,000 700 2.95 2.96 3 3.02 2.96 2.96 811,000 2,425,740 PX MINING SEMIRARA MINING 31.1 31.2 30.15 31.5 30.15 31.1 4,794,400 148,785,690 5.95 6.08 6 6.18 6 6.08 17,400 104,530 ENEX ENERGY ORNTL PETROL A 0.0086 0.0089 0.0087 0.0088 0.0087 0.0088 13,000,000 114,200 3.4 3.45 3.46 3.49 3.4 3.4 84,000 288,460 PXP ENERGY PREFFERED HOUSE PREF B 93.5 95.85 97 97 97 97 200 19,400 1,032 1,035 1,032 1,035 1,032 1,035 265 274,245 ACEN PREF B AC PREF AR 2,450 2,468 2,450 2,450 2,450 2,450 5 12,250 498.6 500 498.6 498.6 498.6 498.6 700 349,020 AC PREF B1 BRN PREF A 97.2 99 98.9 98.9 98.9 98.9 500 49,450 33.2 33.3 33.3 33.3 33.2 33.2 12,000 399,440 CEB PREF DD PREF 89.8 90 90.2 90.2 90 90 99,710 8,975,555 96.2 98.5 96 98.6 96 98.6 710 68,186 EEI PREF B GTCAP PREF B 939.5 950 940 940 940 940 110 103,400 920 925 925 925 925 925 1,000 925,000 JFC PREF B MWIDE PREF 2B 90.1 93 93 93 93 93 50 4,650 27.8 31.6 27.45 31.8 27.45 31.8 17,400 481,170 PNX PREF 3B PNX PREF 4 253.2 261.6 253.2 261.6 253.2 261.6 40 10,212 971 1,009 970 970 970 970 1,000 970,000 PCOR PREF 3B PCOR PREF 4C 960 1,000 1,000 1,000 1,000 1,000 70 70,000 73.2 73.65 73.65 73.65 73.65 73.65 20 1,473 SMC PREF 2F SMC PREF 2I 70.7 73 73 73.2 73 73 3,700 270,244 67.5 68.95 66.55 67.5 66.5 67.5 520 34,602.50 SMC PREF 2K TECH PREF B2D 48.1 48.95 48.95 48.95 48.95 48.95 2,200 107,690

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

3.56 3.57 3.57 3.57 3.57 3.57 5,050,000 7.48 8 0.35

0.37

2,547,685 136,800 -2,235,930.00 -43,180 2,106 -902,200 212,000 2,550 -324,000 -1,762,840 -500 -18,133,394 -10,694,980 6,615,838 4,140 5,151,875 -198,560 -16,870,635 3,064,380 -39,145,610 -304,070 -93,660 -346,895 -9,537,304 3,940 450,000 -584,250 2,300 -10,818,785 -96,000 2,650 566,990 -269,190 4,673,560 -20,804,600 -7,485,250 -184,500 -169,740 -8,058,570 -5,528,660 634,670 -105,200 8,000 6,090 -7,983,229 -2,990 -31,885,480 -99,720 -299,700 36,500 -

18,028,500 -

() -

SMALL, MEDIUM & EMERGING

0.46 0.46 0.46 0.46 100,000 46,000 0.77 0.83 0.77 0.82 550,000 433,200 0.9 0.9 0.9 0.9 16,000 14,400 0.76 0.77 0.74 0.74 65,000 48,250 1.16 1.18 1.15 1.16 630,000 731,910 -264,200 0.231 0.231 0.23 0.23 520,000 119,920 -

EXHANGE TRADE FUNDS

98 98 96.85 96.85 25,550 2,483,893 326,759

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

FIRST METRO ETF

0.445 0.79 0.88 0.73 1.16 0.231

96.8

0.46 0.83 0.9 0.74 1.17 0.24

96.85

www.news.businessmirror@gmail.com

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Monday, October 23, 2023

52M+ low-income Filipinos Generative AI for the Workforce bought microinsurance–IC T Perspectives

O realize the most value from generative Artificial Intelligence (AI), organizations need to rethink how their people work. That is because adopting it is not simply about upgrading to the latest technology—it is about using generative AI’s revolutionary capabilities across the enterprise to create more productive, efficient and innovative workers. Without a thorough workforce review and overhaul plan, organizations risk missing out on the strategic and operational opportunities that implementing generative AI creates. The technology’s ability to process natural language, digest large amounts of data and produce unique content make it a potent tool for automating and enhancing knowledge work. This is the new frontier of AI-enabled productivity, where industries like financial services and law will create much of their value. With a well-constructed plan, organizations have an opportunity to define the workforce of the future and draw top talent to a best-in-class professional development environment employing leading-edge technology and work practices. The rise of generative AI technology marks a significant shift in how businesses operate, especially in the Philippines. This transformative tool has immense potential to revolutionize various sectors. “The key to adopting generative AI lies not in replacing workers but in empowering them to concentrate on more vital tasks and enhancing their creativity and decision-making abilities,” KPMG in the Philippines Technology Consulting Principal and Intelligent Automation Sector Head Doris Aura B. Pastoriza explains. “For a country with a tech-savvy workforce like the Philippines, embracing this emerging innovation presents a unique opportunity that can drive business success.”

Changing knowledge work

GENERATIVE AI is a step-change in technology-enabled working. Traditional AI and machine learning have excelled at numerical processing and optimization, making them an excellent solution for automating and accelerating specific tasks. Generative AI is different because of its potential to spur innovation in all kinds of roles by drawing from its massive foundation of organized knowledge. Generative AI is intuitive and adaptable. Not only can it handle simple workflow automations, but also it can support and inform knowledge workers, super-charging their creativity and decision-making. This creates huge opportunities to augment the power of people quickly and drive businesses forward. The key is building an intentional and sustainable strategy of upskilling, overhauling and augmenting roles. To accomplish this will require focusing on how and where the technology can best be applied not to replacing workers, but to empowering them to be more productive on high-value tasks. This change to workforce composition, roles, skills, and organization structures, alongside generative AI systems, is imperative. Companies that collaborate cross-functionally to deploy generative AI thoughtfully, govern it responsibly, and integrate it seamlessly, will gain sustainable competitive advantage. The approach cannot be piecemeal. Organizations must commit to a holistic workforce transformation. By thoughtfully deploying generative AI across critical roles, they can improve productivity, cost efficiency, innovation velocity, and revenue growth. And it is all possible without leaving humans behind.

A framework for reshaping the workforce

THERE is no question that generative AI will disrupt how businesses and people work. Minimizing the shock to the workforce, managing organizational risk, and realizing the full value of adopting the technology is possible through a cross-functional, holistic approach focused on four key areas: 1. Identifying capabilities, roles and enablers. n Identify high-impact knowledge worker roles and prioritize by value opportunity.

n Deconstruct the work by role to explore how activities can be automated, enhanced with AI: impacts on repetitive tasks, adding to creativity and critical thinking. n Identify AI solutions, alliances, partners and technology enablers. 2. Addressing risk and compliance. n Revisit safeguards of privacy and confidentiality when utilizing data in the context of responsible AI. n Establish ongoing policy and compliance capability for internal and external monitoring and revision. n Actively manage relevant compliance and regulatory topics by jurisdiction. n Set ethical and intentional guidelines and policies. 3. Activating role augmentation. n Deploy impactful generative AI solutions and vendor-specific AI capabilities through strategic alliance partnerships pointed at prioritized role augmentation. n Manage ongoing active alliance and vendor based generative AI innovation applicability analysis. n Adopt, monitor, refine, train and optimize generative AI usage across the enterprise by role. 4. Capturing value. n Capture productivity and capacity through SG&A savings, productivity enhancement, re-investment through workforce shaping. n Differentiate and create value through business- specific generative AI training and data. n Anticipate and activate organizational changes from generative AI, ensuring employees are engaged, informed, and supported. n Refresh and modernize workforce strategy with work breakdown and who does what work.

The role of human resources

HUMAN resources will play a pivotal role in designing and driving a generative AI-focused workforce optimization plan. For generative AI to be successfully implemented, the workforce needs to understand it and embrace it. That means the organization must do its part to identify the opportunities and risks to workforce stability and business continuity and proactively develop a plan for managing this workforce transition. That includes talent planning, both to understand opportunities for sourcing workers and to evaluate the types of skills required for new generative AI co-working models. It also means reimagining the employee experience, including reviewing how the workforce is evaluated and rewarded and how new roles might impact morale and productivity. It is also imperative to identify and protect critical roles so the business can continue to deliver for customers through workforce reengineering. During this highly transitional period, HR’s goal should be to become a true innovation hub for the enterprise. It should drive new ways of thinking, deconstructing outdated structures and roles that were developed during the industrial revolution. It should also work to ensure that the human element is never lost in this new dynamic. The rise of generative AI presents an incredible opportunity for HR to step up and become strategically important to the business in new ways.

This is an excerpt of article in https://kpmg. com/us/en/articles/2023/generative-ai-humancapital.html?utm_source=linkedin&utm_ medium=social&utm_campaign=7014W00 00024ExtQAE&cid=7014W0000024ExtQAE& utm_content=4d3e86a0-461c-45a2-9d9d02f3545c0001. © 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. E-mail 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.

By Jasper Emmanuel Y. Arcalas

@jearcalas

VER 52 million low-income Filipinos availed of microinsurance products in the second quarter, according to the Insurance Commission (IC). According to the IC, a total of 52.543 million poor Filipinos were covered by microinsurance policies during the reference period, about 7.16 percent over 49.034 million lives recorded in the same period of last year. “The number of lives insured by MBAs [mutual benefit associations], life insurance companies and nonlife insurance companies (i.e. personal accident insurance) also increased across-the-board,” read a statement the IC issued over the weekend. The majority of Filipinos insured by microinsurance were under MBAs, based on IC data. The number of lives insured by MBAs was at 27.813 million, slightly higher than last year’s

27.528 million. Life insurance companies also tallied a 4.35-percent increase in its insured lives to about 17.008 million from 16.299 million it covered in the second quarter of last year, according to the IC. IC data showed that non-life insurance companies registered the highest growth rate at 48.31 percent as it covered 7.721 million clients from 5.206 million last year. The IC pointed out that the increase in the number of insured lives by microinsurance policies drove the rise in the amount of premiums collected by MBAs, life insurance and non-life insurance companies. IC data showed that premium

collections under microinsurance policies rose by more than a fifth to P6.702 billion from P5.463 billion in the second quarter of last year. “Premium collection by MBAs and life and non-life insurance companies increased across-the-board,” the IC said. The growth in premium collections tracked the increase in the number of lives insured with nonlife insurance companies registering the highest growth rate followed by life insurers and MBAs, IC data showed. The IC data showed microinsurance premiums collected by non-life insurance companies expanded by 84.08 percent in the second quarter to P1.279 billion from P695.29 million in the same period last year. Meanwhile, premium collections under microinsurance policies issued by life insurance companies rose by almost 20 percent to P1.79 billion from P1.494 billion. MBAs still accounted for the majority of the microinsurance policies issued during the reference period as it posted a share of about 54 percent. Microinsurance premiums col-

lected by MBAs reached P3.631 billion, 10.93 percent higher than the P3.274 billion recorded in the Aprilto-June period of last year, according to the IC. The IC said the data recorded for the second quarter period came from figures submitted by 48 entities actively engaged in providing microinsurance products. The IC added that the entities were 23 MBAs, 12 life insurance companies and 13 nonlife insurers. “The [IC] actively promotes microinsurance as a means for financial inclusion by allowing low-income earners to hedge against various risks such as death, injury and damage to livelihood or property,” read the regulator’s statement. “Micro-insurance refers to insurance products that can be purchased for premiums which should not be more than 7.5 percent of the minimum wage in Metro Manila, computed daily. Micro-insurance products include micro-life and health insurance and micro-agricultural insurance. There are also micro pre-need products available, such as micromemorial, educational and pension plans,” the IC said.

Tax perks akin to seniors’ Security Bank tapped eyed for ‘junior citizens’ as depository entity for BOI’s SIRV scheme By Jovee Marie N. dela Cruz @joveemarie

senior lawmaker is pushing for the passage of a bill providing “junior citizens” belonging to families with annual incomes of less than P250,000 more benefits, including a 20-percent discount and valueadded tax (VAT) exemption on a wide range of goods and services. In House Bill (HB) 8312, Camarines Sur Rep. LRay F. Villafuerte suggested that these “junior citizens” receive automatic NHIP coverage from the National Health Insurance Corp. (PhilHealth). Furthermore, “junior citizens” from low-income families are eligible for free pediatric vaccinations through the Department of Health (DOH). Their parents or guardians can also enjoy a 20-percent discount and VAT exemption on the purchase of medicines and milk supplements. These discounts and exemptions are also extended to admission fees at theaters, cinema houses, concert halls, circuses, leisure and amusement facilities and funeral and burial services for “junior citizens” who pass away. “Government support for our young citizens is imperative, especially during their formative years, in order for them to grow up into fully equipped adult citizens,” read HB 8312. “This is especially important to children from disadvantaged areas, where access to healthcare services is low or limited to private institutions,” it added. Villafuerte emphasized the importance of government support for young citizens, particularly in disadvantaged areas with limited access to healthcare services. He noted that the Philippines has made progress in reducing child mortality and improving maternal health,

citing previous legislation like the “Early Childhood Care and Development (ECCD) Law” and the “Barangay Level Total Protection of Children Act.” Villafuerte said his bill aims to ease the financial burden of poor or lowincome parents, as it aims to provide these benefits to families whose annual income is below P250,000. The bill ensures that medical services encompass hospital services, the professional services of physicians and healthcare professionals and necessary diagnostics and laboratory tests. Dental services include various oral procedures required for the prevention, diagnosis and treatment of illness or injury. “This benefit given to the junior citizens extends to the professional fees of physicians in private hospitals and of home healthcare service providers, as well as funeral and burial services in the unfortunate death of the junior citizen,” he said. “Admission charges to leisure and amusement sites, such as movie houses and concert halls, are also taken into consideration in this proposed bill,” he added. “Junior citizens” and their parents or guardians will need to secure a Junior Citizen Identification Card (ID) and booklet from the barangay or local government unit to avail of the privileges, the bill said. The required documents for obtaining these IDs include the child’s birth certificate issued by the Philippine Statistics Authority and an income tax return showing the family’s annual income does not exceed P250,000. The bill outlines penalties for establishments or individuals that refuse to provide the specified privileges or violate any provisions, with fines and potential imprisonment. Corporations or organizations found in violation may also face penalties.

By Andrea San Juan

HE Board of Investments (BOI) announced having tapped Security Bank Corp. (PSE: SECB) as one of the depository banks for the agency’s Special Investor’s Resident Visa (SIRV) program. A statement the BOI issued last Saturday the arrangement became effective after its officials and SECB executives signed a Memorandum of Agreement (MOA). The SIRV program aims to increase the country’s foreign currency reserves by providing a residence visa with multiple-entry privileges to a foreign national in exchange for a minimum investment of $75,000 in an eligible type of business (service or manufacturing industry). This condition is mandated under Book V of Executive Order 226 (as amended). According to the BOI, its MOA allows foreign investors to send their money to the Philippines through the SECB to qualify for the SIRV program. Other BOI-accredited depository banks for the program are the Development Bank of the Philippines (DBP), the Land Bank of the Philippines (LBP) and the East West Banking Corp. BOI Executive Director Veronica F. Magsino was quoted in the statement as expressing optimism that its collaboration with SECB “will further strengthen the synergy of government and the private sector

and, hopefully, lead to a mutually beneficial relationship for both parties.” From January to September this year, the BOI reported that it approved P734-billion worth of investments, which is 102-percent higher than the P362-billion worth of investments it approved in the same period last year. The bulk, or P427 billion, of the registered amount is accounted for by foreign direct investments (FDI) while the remaining P307 billion are from local sources. “If you compare it to the same period last year, it’s (FDI increase) actually a 4,150-percent increase,” BOI Managing Head Ceferino S. Rodolfo said at a recent briefing in Malacañang. “We are counting that really as having been significantly related to the [overseas] visit of the President,” Rodolfo added. Of the registered FDIs, 80 percent came from Germany. The other top sources of FDIs include Japan and South Korea, Rodolfo noted. The Department of Trade and Industry attributed the spike in FDIs to the government’s removal of foreign equity restrictions on renewable-energy projects. During the first nine months of the year, 90 percent of the approved FDIs are for renewable energy, while the other investments are in telecommunications, mineral processing among others.

BIR launches taxpayer-registration application portal

HE Bureau of Internal Revenue (BIR) announced it has developed a Taxpayer Registration-Related Application (TRRA) portal to provide taxpayers with another alternative option to submit their registration-related applications electronically at the BIR Revenue District Offices (RDOs). A statement issued by the BIR read that the TRRA Portal was

launched on October 16 and covers the following registration-related transactions: application for TIN under E.O. 98 and ONETT; registration of OFW and non-resident citizens; application for Authority to Print; updating of email address using Application Sheet Form S1905; transfer of Registration of Employees and Other Non-Business Taxpayers; and, updating of maiden

name (for married female). To familiarize taxpayers with the features of the TRRA Portal, the BIR said it conducted free webinars, titled “Taxpayer’s Briefing on BIR Registration” on October 11 and October 12. During the webinars, participants were informed about the features of the TRRA portal and how it can be accessed. In addition, various regis-

tration options available in the BIR were also discussed, which are all aimed to make tax compliance easier for taxpayers. With the rollout of the TRRA portal, we hope that taxpayers’ compliance with the BIR’s registration requirements will be greatly enhanced, Commissioner Romeo D. Lumagui Jr. was quoted in the statement as saying.

Explainer BusinessMirror

B4 Monday, October 23, 2023

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Why European drivers are opting

for Chinese electric cars

John Kirkwood poses for a selfie with his car near Paston, Norfolk, England, September 27, 2023. Chinese automakers are winning over drivers as they make major inroads into Europe’s electric vehicle market, challenging long-established homegrown brands in an industry that’s key to the continent’s green energy transition. The European Union has launched an investigation into Beijing’s support for its EV industry, adding to tensions between the West and China. John Kirkwood via AP

By Kelvin Chan

The Associated Press

ONDON—When Laima SpringeJanssen was looking to replace her French-made gasoline-powered SUV with an electric car, she considered models from Volvo and Nissan. T he Volvo extras she wanted would have busted her budget, while the Nissan lacked the “wow factor.” The Copenhagen, Denmark, resident ended up buying a compact SUV from China’s BYD. “I really, really love the car,” Springe-Janssen said. For the equivalent of about $50,000, the Atto 3 SUV came with “all these goodies” like a 360-degree dash cam, two years of free charging and an extra set of winter tires. Her husband likes it so much he’s considering buying another BYD to replace their other car, from Volkswagen’s Skoda brand. “I’m sorry, Europe. Go home,” she said. “China has a better offer.” Her enthusiasm underscores how Chinese automakers are winning over drivers as they make major inroads into Europe’s electric vehicle market, challenging long-established homegrown brands in an industry that’s key to the continent’s green energy transition.

The EU’s response to the surge The competitive threat has spurred the European Union to launch an investigation into Beijing’s support for its EV industry. That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. China’s EV onslaught, along with massive US clean energy funding that has drawn investment away from Europe, shows how the 27-nation bloc is caught in the middle of the global race for green technology. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the US, independent auto analyst Matthias Schmidt said. Europe also has the world’s second-biggest EV battery market after China. Nevermind the geopolitics. Climate-conscious car buyers in Europe who are grappling with an increased cost of living rave about how Chinese EVs are affordable yet packed with

This September 29, 2023, photo provided by Laima Springe-Janssen shows her posing by her electric car, from Chinese auto brand BYD, in Gelsted, Denmark. Sjoerd Janssen via AP

features and stylish design. Concerns about the threat to local carmakers and jobs just aren’t a factor for them.

The draw of Chinese electric cars British retiree John Kirkwood replaced his Volkswagen Passat three years ago with an MG5 station wagon because the £30,000 ($36,000) price tag “wiped the floor” with its nearest rival—a Kia that cost thousands more. “It’s nice. It’s quiet, it’s refined” and very quick, Kirkwood said, adding that he had few qualms about British brand MG’s Chinese ownership. MG—owned by SAIC Motor, China’s biggest automaker— is the largest Chinese EV player in Europe. BYD, backed by billionaire investor Warren Buffett, is growing fast. There’s also Geely, which owns Sweden’s Volvo and a stable of EV brands including Polestar, Lynk & Co. and British sportscar maker Lotus. Behind them are a slew of startups, like NIO and Xpeng. Their combined sales are a sliver of the 9.2 million vehicles sold in Europe every year, but they have been gobbling up a piece of the smaller EV market at an astonishing pace. Chinese automakers account for only about 3 percent of Western Europe’s overall car market but 8.4 percent of the EV market, up from 6.2 percent last year and almost nothing in 2019, according to Schmidt’s data. The surge is stoking fears about Europe’s automotive industry, an economic powerhouse centered in

France and Germany that employs millions of workers, staying competitive as it transitions from fossil fuels to electricity.

Europe’s concerns European Commission President Ursula von der Leyen says “global markets are now flooded with cheaper Chinese electric cars,” with prices “kept artificially low by huge state subsidies.” The commission, the EU’s executive arm, formally opened its investigation this month, saying it would take up to 13 months and could result in import duties. Beijing voiced “strong dissatisfaction” and vowed to “firmly safeguard“ Chinese companies’ rights. The Chinese Commerce Ministry said the EU probe is based on “subjective assumptions,” lacks enough evidence and goes against World Trade Organization rules. Complicating matters, global automakers build vehicles in China and have exported 164,300 this year to Europe, including BMW’s iX3 SUV made in northeastern Shenyang and Tesla’s Model 3 and Y produced in Shanghai, according to Schmidt’s data. That means one in every five EVs sold in Europe is a Chinese import. A commission spokesman said the investigation is looking at China’s EV exports “regardless of the brand.”

European automakers’ counteraction plans Stellantis, which owns French

Visitors watch the BYD ATTO 3 at the IAA motor show in Munich, Germany, September 8, 2023. AP/Matthias Schrader

auto brands Peugeot and Citroen as well as Italy’s Alfa Romeo and Fiat, is vowing to fight back against China’s EVs. In a recent earnings call, CEO Carlos Tavares said the world’s No. 3 automaker is responding to a “Chinese invasion in a European market” with a new Citroen e-C3 cheap compact. Stellantis faces added pressure from a union strike in the US over EV battery plant jobs.

The dispute and Beijing’s response Executives at Shanghai-based Aiways, a startup headed by Volvo’s former China sales chief, rejected accusations that Beijing provides a helping hand. “We’re not selling inside China, we’re not being subsidized in China,” said Alexander Klose, vice president of overseas operations. “Yes, we obviously have some subsidies for putting a plant somewhere, which is, I think, what everybody has in Europe.” Aiways is focusing on Europe and Israel instead of China, where the auto market is so crowded that “we don’t think it makes sense to compete right now,” Klose said. The EU should be working on getting to a green future “rather than keeping competition out,” he said.

The competitive advantage of Chinese EV makers One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter

the Chinese market. Global automakers had to team up with local companies, providing them crucial automaking knowhow. “They were kind of like the sous chefs to the Western companies,” said Schmidt, the auto analyst. “The situation now is those sous chefs are opening up their own restaurants and, in some cases, better than their masters’ restaurants.” Also helping level the playing field is battery-powered motors being less complex to build than internal combustion engines and requiring fewer workers. That’s a problem for European brands with big workforces that will need years to revamp operations, Schmidt said. Chinese EV makers, meanwhile, are trying to stand out in a crowded field. SUV maker Great Wall Motors’ EV sub-brand Ora is targeting women, with cars it says are designed for their body sizes and daily needs. The Ora Funky Cat, with throwback round headlights, an exclamation mark on its hood badge, and a £32,000 ($38,600) price tag, appealed to British scriptwriter Justin Nicholls, who bought one for his wife. “The looks are awesome, and the tech great. It’s so easy to drive, yet feels like a lot larger car and feels premium,” he said. It also appealed to Nicholls because it’s different from the Volkswagens, Peugeots and BMWs common on British roads: “I think it is a lot more quirky than European cars.”

A visitor walks near the P7i electric sedan from Chinese automaker Xpeng at a show room in Beijing, April 13, 2023. AP/Ng Han Guan

Style

BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos • Monday, October 23, 2023

Anthony Ramirez: Self-taught, self-made, and his sexy self-discovery In 15 years in fashion, how did your design aesthetic evolve? “Through experience and emotions. As a fashion designer, my life’s experiences have a profound impact on my design aesthetic. Emotions have always played a role in my creative process and I often draw inspiration from my encounters with people, from challenges and achievements, from adventures, from a whole gamut of everyday experiences. “As I go through my personal milestones and self-discovery, my designs align more closely with my authentic self. Whether it’s the exuberance of joy, the depth of sorrow, or the intensity of passion, my creations are an emotional canvas. “Above all, my unwavering passion and dedication to fashion design are the emotional drivers behind my creative journey.” n

nthony Ramirez, a favorite fashion designer to celebrities, celebrated his 15th anniversary by presenting “Symphony of Feelings,” his Spring-Summer 2024 collection, on October 18 at his new and sprawling atelier in Horseshoe Village, Quezon City. “‘Symphony of Feelings’ is the story about my feelings throughout my 15 years in the fashion industry. How I felt when I put up my first shop, my insecurities about being in the fashion industry, about the industry itself, personal issues, running my company, about couture. All of my feelings,” reveals Ramirez. With an uproarious personality, Ramirez was unrestrained in his use of exuberant colors and luxurious fabrics. The collection, 30 scintillating and seductive pieces, is mostly made of pure silk taffeta, silk satin and French cashmere for menswear.

COS’ VISION FOR AUTUMN WINTER 2023 AT NEW YORK FASHION WEEK

‘CRUEL INTENTIONS’

“THE first look is Ria Bolivar with the bag. That’s me. That’s my interpretation of me back when I started 15 years ago. In neutrals. Very me. The bra is significant because it’s the spark of what I want to achieve. The pants are very me also,” Ramirez, 30, shares. “Ria is my first ever dream model.. During my first Philippine Fashion Week show, Ria was also my first look. Inulit ko lang s’ya after 15 years.” After the first five looks is a guy in an all-white suit, Franco. “He represents the person whom I fell in love with. That was my ‘Sweet Era.’ My 11th look, worn by Jessica Yang, the music changed, ushering in my ‘BrokenHearted Era.’ The 20th look, Ornussa Cadness, is my ‘F*ck Girl Era,’ the real Anthony Ramirez. Hubad. Sexy. I chose Ornussa specifically to wear the only black dress to show my dark side,” he explains. Then the story went back to the modern Anthony Ramirez, to what the atelier can offer this season. The finale, worn by the model Takki, featured a diamond-encrusted bra worth P20 million, created in collaboration with Viera Jewelry. “I knew from the start that was going to be my finale—the diamond bra. From Ria to Takki, the bra is the idea of a woman saying, ‘I’m empowered.’ It symbolizes the power of a woman—of elegance and power,” says Ramirez. Coming of age in the 1990s, Ramirez was fascinated with the teen romantic films of the era, specifically 1999’s Cruel Intentions. Starring Reese Witherspoon, Selma Blair, Ryan Philippe and Sarah Michelle Gellar, the movie is about wild, manipulative kids from an upscale background. So the look for the female models was a severe bobcut. Matte, sophisticated, chic, ‘90s babies. The stylist was Perry Tabora with styling associate Kris de Leon. Remarkably, Ramirez was able to gather the best in makeup artistry such as Mark Qua, Mickey See, Jelly Eugenio, Anthea Bueno, Omar Ermita, Thea Dionisio and Justine Navato; and hairstyling such as

Renz Pangilinan. Aries Manal, Jay Aquino and Valerie Corpuz.

‘MEET JOE BLACK’

WITH able direction by Jackie C. Aquino, Ramirez’s presentation was tasteful, refined, not fussy. It went exceedingly well with the ancestral house that he converted into his new atelier. “The moment I saw the house, I knew I would have a show there. I told the house the moment nakuha ko s’ya na if smooth ang restoration, I would bring it back to its glory days.,” the designer says of the 1960s property that is said to be one of the original mansions in Horseshoe Village. “When you see the grand staircase, I had wooden accents placed there because I wanted to recreate the iconic party scene in [the 1998 film] Meet Joe Black. I wanted a 1990s society scene so I only had champagne served at the event,” Ramirez says. That he enlisted high-powered supermodels to walk his runway was a conscious choice. He

specifically wanted the new nyoras because there’s a hidden message in the show which wasn’t emphasized, like a mother-daughter dynamic. So along with the younger set, senior models strutted their stuff. “Most of my dream models that I couldn’t get when I started, like Jo Ann and Jasmine, for example, I finally got to model for me because I could now afford them,” he laughs. “Now that I have the power, I finally got to work with them.” Still humble even after his success, Ramirez looks back at his stint with Maxie Cinco with gratitude. “Lucky me nasanay ako sa artista dahil kay Maxie,” Ramirez recalls, also citing Paul Cabral, Ivarluski Aseron and Cary Santiago as his fashion influences with Vice Ganda and Jennylyn Mercado as his early celebrity champions. “After my Philippine Fashion Week show, Bang Pineda discovered me and asked me to dress up the celebrities of the TV show ASAP. Lahat ng artista nadamitan ko. I am lucky in that part.”

(director of Corporate Communications and Watsons Brand Marketing at AS Watson) and said why don’t we come up with a global program,” said Ngai. When AS Watsons started with the “Give a Smile” program, Ngai thought that it would be a good idea to involve their colleagues and customers around the world. So the program didn’t just rely on donations from AS Watson. The company initiated a company-wide awareness program for employees. Since 2018, over 17,000 employees have participated in the program. “We couldn’t have done this alone; it’s a joint effort by our people, our customers and our business partners. I would like to extend my heartfelt thanks to everyone for their tremendous support in our Give a Smile campaign, helping cleft children restore the smiles they deserve,” said Ngai. In about 500 Watsons stores across the Philippines, there are donation cans where customers can drop monetary

donations for Give a Smile. Danilo Chiong, Watsons Philippines Managing Director, said about P500,000 have been raised from customers’ donations. Customers who are members of Watsons Club can also donate their points earned from shopping to the program. Even SM Advantage Card holders can donate their points. Sharon Decapia, marketing assistant vice president of Watsons Philippines, said customers can also donate to Share a Smile via the Watsons App. “We’re making it easier and more convenient for our customers to rally behind the cause,” said Decapia. From October 17 to 21, AS Watson’s Next Gen Sustainability Committee and Watsons Philippines jointly participated in a medical mission in the Philippines. With exclusive sponsorship from AS Watson, 60 patients received life-changing surgeries at The Medical City Clark in Pampanga carried out by medical professionals from Operation Smile. For every surgical mission, P30,000 or $475 is needed to help one patient. For the Pampanga surgical mission, Operation Smile brought in over 70 medical professionals, including general surgeons, cosmetic surgeons, nurses, anesthesiologists, and many others. Ngai said it was important to engage young people in sustainability endeavors. The third cohort of the AS Watson Next Gen Sustainability Committee, which was inaugurated in September 2023, is made up of 21 Gen Z team members across Asia and Europe. As volunteers, the committee members joined the Pampanga medical mission to support and met the patients

(Clockwise) Jo Ann Bitagcol, Ria Bolivar, Jasmine Maierhofer, Jessica Yang, Santino Rosales, Ornussa Cadness, Franco, Takki and designer Anthony Ramirez

COS returned to this September’s New York Fashion Week to present its Autumn Winter 2023 collection: an exploration of contrasts, where tradition meets innovation in an evolution of the COS archetypes. The runway came to life within the Manhattan Classic Car Club against the backdrop of the Hudson River at sunset. The rich, deep brown catwalk surface contrasted with the iridescent shine of metallic sculptural forms that framed the space and captured the evening light. Galvanized steel curves raised to reveal a soft, illuminating glow as the models walked the space, radiating confidence and ease in the elegant yet powerful collection—the 43 looks encapsulating the core principles of timelessness, uncompromising quality, and day-to-evening dressing. Exploring functional yet innovative tailoring through methods of deconstruction, classic cuts are reinvented from the inside out. Trouser suits are refined, and waistcoats reimagined, while confidently structured shoulders contrast fluid silk maxi lengths, creating a bold visual statement and elongated silhouette. Standout head-to-toe knitwear looks in pared-back styles are finished with hoods, oversized fringed scarves, and hybrids that combine the utilitarian and the beautiful. Fringing on capes and dresses, and neck scarf detailing on shirts effortlessly elevate pieces from day to evening. The show also debuted the Autumn Winter 2023 COS Atelier collection, marking the third capsule of its kind. Rooted in craftsmanship and innovation; an intricate hand-knitted crochet look features Responsible Mohair Standard mohair, while fine details include the delicate leather tassels that adorn wool outerwear, made from off-cut materials. A selection of items from the show collection are available immediately at COS stores and www.cos.com and limited numbers will continue to drop throughout the season. Inspired by contemporary culture, the London-based fashion brand, which has a store in the Philippines at SM Aura Premier, is known for iconic wardrobe pieces, elevated essentials, and innovative designs that are made to last. Dedicated to quality and sustainability, COS takes a bespoke approach to design, creating unique collections that combine function with timeless style. Experimental design details and material innovation are frequently revisited to include the latest sartorial advances and ensure the considered use of fibers whether they be recycled, renewed, or sustainably sourced.

More than just a health and beauty retailer FOR many Filipinos, Watsons is a place to get their health, wellness and beauty essentials, but for over 2,000 children in this country born with cleft conditions, the retailer, in partnership with Operation Smile, has changed their lives. In the Philippines, one child in 500 live births has a cleft and lip palate condition, a gap in the mouth that did not close during the early stages of pregnancy. We asked Bene Spinola of Operation Smile what causes cleft and lip palate conditions. The first cause, she said, is genetics. The second is that due to poverty, with many expectant mothers in countries like the Philippines being unable to get enough nutrition and the babies in their wombs are born with defects. Sadly, according to Malina Ngai, CEO of AS Watson (Asia & Europe), these children grow up being bullied by their peers. Out of fear and lack of knowledge about the condition, the parents of these kids just hide them at home. The collaboration between the AS Watson Group and Operation Smile started in 2018 but Watsons Philippines and Operation Smile have been partners in changing the lives of children with cleft and lip palate since 2013. “In 2018, we wanted to identify global partners. In the past, our charity programs were local based. We operate in over 28 markets in Asia and Europe so all our charity works were local based, but in 2018 I came across Operation Smile. In the company, we have a purpose and that is to put a smile on our customers’ faces today and tomorrow. After I met Operation Smile, I realized there were kids out there with cleft and lip palate conditions and they don’t have a choice whether they will smile and not smile, and I talked to Hanks Lee

‘SYMPHONY OF FEELINGS’

and their families, witnessing the life-changing impact of the Give a Smile campaign.

GENTLE MONSTER OPENS IN THE PHILIPPINES

Korean actor Ahn Hyo-seop may not have officially opened the Gentle Monster store in the Philippines but his afternoon store visit was witnessed by so many fans that it was like a red-carpet event. Gentle Monster is a groundbreaking global eyewear brand that made its grand Philippines debut at Shangri-La The Fort in Bonifacio Global City on October 17. The Gentle Monster Shangri-La Manila Flagship presents a striking scene with “The Giant” sitting atop a destructed architectural reinterpretation of Frederik Heyman’s 3D artwork. The intricately placed art pieces in vertical and horizontal variations across the space present a strong contrast with the store’s facade. Founded in 2011, Gentle Monster has gained recognition for its innovative storytelling and unique approach to fashion. The brand’s unconventional philosophy is evident not only in its product selection but also in its collaborative ventures and the way it redefines the traditional brick-and-mortar store concept. Gentle Monster is known for daring projects and sophisticated product offerings. Gentle Monster Manila (5th Ave, Taguig, 1634 Metro Manila), as well as Gentle Monster’s official global e-commerce platform (www.gentlemonster.com), are the only official suppliers of authentic Gentle Monster products in the Philippines.

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Unforgettable Senior Moments

BusinessMirror publisher, Anthony Cabangon, has been at the forefront of pursuing the advocacy of BusinessMirror for the elderly since its launch in 2013.

Former Department of Education Secretary Leonor M. Briones (center) was the recipient of the Ambassador Antonio L. Cabangon Chua DANGAL Award in 2019, which was organized by the BusinessMirror, Unilab and United Bayanihan Foundation. Sen. Sherwin Gatchalian (3rd from right) was the guest speaker at the event.

Uniquecorn Strategies celebrates two years of growth and strategic partnerships in the startup ecosystem MANILA, PHILIPPINES—Uniquecorn Strategies, the Philippines’ first and only startup-focused public relations (PR) agency, marked its second anniversary. To commemorate this milestone and signify its evolution,

T’S been almost a month since the launch of the book “IPRA Matters,” a compendium of 70 selected columns written by members of the International Public Relations Association (IPRA), myself included, which were printed in the BusinessMirror. T he auspicious event gathered some of the country’s esteemed Public Relations practitioners as well as editors and writers of various Philippine media publications, a feat which was nearly impossible during the last three years due to the global pandemic. Needless to say, the celebration was also proof that the business of communications, more specifically the PR industry, is very much alive and relevant today. Aside from the collective effort of the members of IPRA in promoting the industry, it is also notable to commend the leadership of BusinessMirror publisher, Mr. Anthony Cabangon, and its Editorin-Chief, Ms. Chuchay Fernandez, for providing a space for PR executives like us to have a regular column and be able to impart knowledge and skills to those who are interested to pursue a career in PR, or to those who are in the corporate world and public service, such as the “IPRA Matters” launch’s guest speaker, Deputy Governor Berna Romulo-Puyat, who represented the Bangko Sentral ng Pilipinas. Such openness in collaborating with external partners perfectly

embodies how the Philippine media and other sectors can merge and jointly serve more value to its readers. It is also a reflection of the publication’s vision to reach stakeholders that have specific niches. This reminded me of the longstanding partnership of my organization, Unilab, Inc., with the BusinessMirror that produced many unforgettable senior moments. In October 2013, BusinessMirror and Unilab launched the Dakilang Adhikain ng Ating Lahi (DANGAL) Awards, which recognized outstanding senior citizen leaders in the country. It was held annually in October before the Covid-19 pandemic, to coincide with the celebration of the Elderly Week. Incidentally, October is also the anniversary month of BusinessMirror, which is celebrating its 18th this year. Unfortunately, we had to inevitably hold off the mounting of the annual awards indefinitely due to the pandemic. In our initial meeting 10 years ago, Sir Anton shared the respect of his father, the late Ambassador Antonio L. Cabangon Chua, for the elderly. “My father thought of instituting the DANGAL Awards to recognize and highlight exemplary senior citizens and organizations for the elderly at the national level so their stories can inspire others,” said Sir Anton. This resonated well with how we are also acknowledging the commitment and contribu-

tions of our retirees. In fact, Unilab is one of the pioneers, if not the first company, in the country to have a foundation for its retirees, the United Bayanihan Foundation (UBF). Despite their status as retirees, members of UBF continued to be active in engaging fellow seniors, conducting talks on how they can be productive members of the community and how to take care of their health. The DANGAL Awards was envisioned to put the spotlight on the strengths of an often-forgotten and, sadly, neglected segment that remains to be a powerful sector in communities. “I thank the people behind DANGAL for bringing to the fore a very special Asian and Filipino trait, which is respect for the elders and taking care of the older generation,” said former Department of Education Secretary Leonor M. Briones. Sec. Briones was the recipient of the 2019 Ambassador Antonio L. Cabangon Chua DANGAL Award, which is given to icons whose works resonate nationally. She shares the same award with the late National Artist for Literature Fil Sionil Jose and former

the agency unveiled a new logo featuring a fully-grown unicorn. This transition from its original logo reflects its journey from its nascent stages to its current formidable position, encapsulating its vision of transformation within the startup ecosystem. Over the past two years, Uniquecorn Strategies has distinguished itself by introducing a fresh approach to public relations tailored for startups. Its expertise encompasses crafting compelling narratives, securing media coverage, crisis management, and establishing a robust online presence, all while adapting to the everevolving PR landscape.

Established in 2021 by its founder, Dean Bernales, Uniquecorn Strategies has grown from a modest two-person startup to a 12-member team of dedicated professionals. The agency has been behind some of the most robust startup PR campaigns in the Philippines, collaborating with an array of local and international brands. “We are profoundly grateful to our clients, partners, and, most importantly, our team, for believing in our vision and making this milestone possible,” said Dean. “Our strategic partnerships have been the backbone of our success, propelling us forward in an industry that’s always in flux.”

Emphasizing collaboration as the cornerstone of its growth strategy, Uniquecorn Strategies has forged impactful partnerships with the Philippine startup movers, including The Final Pitch, LaunchGarage, Startup QC, The Philippine Blockchain Week, The Blockchain Council of the Philippines, and Archipelago Labs, underlining its commitment to nurturing the country’s startup landscape. Moreover, the PR agency served venture-backed startups, such as Great Deals E-commerce Corp., Tier One Entertainment, PDAX, Mober, and Packworks, as well as US-based billion-dollar companies Instructure and Riot Games, treating them

Dakilang Adhikain ng Ating Lahi (DANGAL) is an advocacy that honors the contributions of outstanding senior citizen leaders and senior citizen groups to the communities that they serve.

senator and well-loved broadcaster Eddie Ilarde. Across the country, senior citizens are well organized and represented by various senior citizen groups that are under the care of local government units, as well as non-government organizations. There are a lot of elderly groups composed of professionals and even non-professionals who are mostly serving as volunteer experts or mobilizers in communities, including churches. They are a strong force to reckon with. Senior leaders, from as young as 60 years old to community leaders in their late 80s, have been spending time and talent contributing to initiatives for the welfare of their fellow seniors and their respective localities. While physical limitations may seem to pose constraints, these leaders and volunteers enjoy the blessing of being able to lend a helping hand. While they may be short in being skilled with the latest digital trends, their wisdom and an unparalleled wealth of experience could be a treasure trove of learnings for the younger set—especially those who dream

not merely as clients but as integral partners in mutual growth. Recognizing the achievements borne from this growth momentum by industry peers, Uniquecorn Strategies was distinguished as one of the Rising Stars by One Mega Group’s The Business Manual. This award honors exceptional companies and entrepreneurs who have demonstrated substantial growth over the past year, propelled by innovative approaches and positive influence within their respective fields. In itheir second year, the Uniquecorn Strategies team has actively expanded their role as industry thought leaders. They have participated as

of “changing the world”. Hence, the sharp eye of a media organization such as BusinessMirror in paying attention to seniors who are both leaders and influencers of society is truly notable. With such dynamism within the organization, I look forward to more out-of-the-box initiatives led by BusinessMirror and wish the company more success. Cheers to BM! 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 premiere association for senior communications professionals around the world. Claire de LeonPapa is the Head of External Affairs and Social Partnerships of Unilab Inc. She is a member of IPRA-Philippines Chapter and the International Public Relations Association. PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.

panel speakers at prominent events such as those organized by Startup Amplify and the Intrigue MAdTech Summit 2023 in both Manila and Ireland. Through these platforms, they have imparted invaluable insights to the startup community, offering guidance on effective strategies in branding, communications, and public relations. In early 2023, the company announced a global expansion, establishing Uniquecorn Worldwide Limited in London. This global reach, representing startups like Tevent and Butter, further solidifies Uniquecorn’s commitment to supporting startups on a global scale.

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Red Lions make EAC Generals eat dust in ‘NC’ hoops

AN BEDA relied on its big men to repulse Emilio Aguinaldo College (EAC), 86-72, on Sunday to wing up No. 2 after the first round of eliminations of the National Collegiate Athletic Association seniors basketball tournament at the Filoil EcoOil Arena. Jomel Puno and Yulkien Andrada waxed hot in the first half and Jacob Cortez took over in the next two period as the Red Lions extended their winning streak to four for a 6-2 record behind leader Mapua (7-1). Puno and Andrada softened up the Generals when they combined for 17 points in the first half, while Cortez erupted for nine of his team-best 17 points in the third quarter when the Red Lions broke loose. Puno wound up with a double-double of 11 points and 11 rebounds while Andrada finished with 14 points. The Red Lions also limited EAC hotshot JP Maguliano to only four points on a horrible 2 of 9 shooting and five rebounds—a far cry from his 17-point, 12-rebound performance in their 78-76 win over the College of Saint Benilde Blazers on Friday. The Generals, who were led by Ralph Robin’s 22 points, went down to 5-4 won-lost. Miguel Oczon, meanwhile, bounced back in in Saint Benilde’s 68-55 rout of Letran later on Sunday. Oczon unloaded 15 points that erased the stigma of a nightmarish three-point outing in a 78-76 setback to the EAC Friday as the Blazers improved to joint No. 5 with on a 5-4 record. Unlike in the last game when he bricked nine of his 10 shots, Oczon was on target this time and drilled five of 10 attempts, including four thunderous three-pointers. He also had six rebounds, six assists and one block without a single turnover. The Knights fell to 1-8.

Editor: Jun Lomibao • Monday, October 23, 2023

COACH PIDO, TIGERS END LOSING STREAK U

PIDO JARENCIO is one relieved coach after nailing his alma mater’s first victory in a year.

NIVERSITY of Santo Tomas (UST) flexed enough muscles and held on to the end to beat Far Eastern University (FEU), 68-62, to end a 19-game losing streak that started two seasons ago in University Athletic Association of the Philippines Season 86 men’s basketball action. The weather on Sunday was gloomy with threats of rain but inside the Mall of Asia Arena, it was sparkling golden yellow for the Tigers nation specially for head coach Pido Jarencion. Jarencio couldn’t sit though for the compulsory post-game press conference. He lost his voice for the entire 40 minutes whipping his Tigers no end. Taking his place in the head table was his deputy Japs Cuan, himself a former UST point guard like Jarencio. “It’s a wonderful feeling winning after a long time,” Cuan said. UST’s last victory was one year and 21 days ago on October 1, 2022, in its Season 85 opener against Adamson University, 69-60. “Thank you God, we got this win,” said Growling Tigers third-year guard Nic Cabañero. “We’re super-duper thankful...we showed ‘puso’ and pride, fighting to the end.” Cabañero had 23 points, 11 he made in the third quarter, and grabbed six rebounds for the

Tigers, who closed out the first round with a 1-6 won-lost record. “This will give us confidence going into the next round,” Cabañero said. “We’re going to be happy today but we’re going to work again” Christian Manaytay finished with 10 points and 11 rebounds, Migs Pangilinan added nine points and seven rebounds and Kenji Duremdes had an all-around game of seven points, 10 rebounds, five assists, two blocks and a steal for UST. Ljay Gonzales, Xyrus Torres,and Jorick Bautista had 11 points each or FEU, which dropped to 2-4 in a tie with University of the East just head of UST in the standings. Cabañero completed a three-point play after a floater on Cedrickh Ona’s unsportsmanlike foul as the Tigers set themselves up with a 55-50 lead entering the final period. Manaytay, Pangilinan, Ivanne Calum and Paul Manalang pushed the Tigers’ lead to 11 points, 65-54, midway the fourth quarter and never looked back. In chess, UST stayed atop the men’s standings with 11.0 points following a 3.5-0.5 victory over De La Salle in Round 3 on Saturday. Ateneo also won, 2.5-1.5, over FEU, but its 5.5 points, trailed University of the Philippines, FEU and De La Salle, which had 6.0 points each.

Swimmer Gawilan guns for gold as Asian Para Games go full blast

ETERAN swimmer Ernie Gawilan tries to break the golden ice for the country as the Fourth Hangzhou Asian Para Games goes full blast on Monday at the Hangzhou Olympic Sports Complex and surrounding venues in Hangzhou. Gawilan, 32, will plunge into action in the S7 men’s 200-meter individual medley at the modern 6,000-seat HOC Aquatic Arena at 7:29 p.m., just a stone’s throw from the 80,000-capacity HOC Stadium where the colorful and festive opening ceremony was held last Sunday night. It will be the first of three events he will aim to defend after capturing three golds in the 2018 edition held in Jakarta, Indonesia in the stint backed by the Philippine Sports Commission. “I need to defend the three main events that I won in Jakarta [2018 Asian Games,” said Gawilan, referring to his gold medals in the 400-meter freestyle, 200 individual medley and 100 backstroke. Also seeing action in the swimming championships are Cambodia ASEAN Para Games double gold medalist Gary Bejino in the S6 men’s 100-meter freestyle, Edwin Villanueva in the SM8 men’s 200-meter individual medley and Muhaimin Ulag in the SB9 men’s 100-meter breaststroke. The vaunted national para chess team, which delivered five gold, two silver and six bronze medals in the 2018 Asian Para Games, will also start competing in the men’s and women’s standard events at the Hangzhou Qi-Yuan Chess Hall on the fringe of the HOC Complex. They are bannered by wheelchair-bound Fide Master Sander Severino, who bagged four golds in the Indonesian capital five years ago, and Darry Bernardo, who was the most prolific chess player in the last Cambodia ASEAN Para Games with six mints in June. Powerlifting also gets underway at the Xiaoshan Sports Center Gymnasium with Romeo Tayawa and Marydol Pamatian vying in the men’s -54-kilogram and women’s -41kg divisions, respectively. Thrower Jesebel Tordecilla, who won a silver in the Cambodia ASEAN Para Games, kicks off the country’s drive in track and field in F56 women’s javelin throw at the Huanglong Sports Center Stadium about an hour away from the HOC Sports Complex. “Our national para athletes have been working and training hard for the 4th Asian Para Games for the last five years. Now is the time for them to shine in this continental sports showcase once again and I encourage our countrymen to pray and support them,” Philippine Paralympic Committee President Mike Barredo said.

B J R

RNEST JOHN “EJ” OBIENA and his legendary Ukrainian coach Vitaly Petrov are due on the training field in Formia on Monday after spending a week’s vacation that wasn’t actually an R&R in Dubai after a hectic season. Obiena underwent functional training with Petrov despite the need for Obiena to rest and relax following a busy indoor season in Europe earlier this year, the world championships in Budapest where he clinched silver and the Asian Games in Hangzhou where he got gold. That’s not to mention the 21 tournaments in Europe where he made the podium 19 times. “It’s always just one week, and they didn’t cut anything as they head for training in Formia,” Jim Lafferty, Obiena’s Dubai-based former coach and confidante, told BUSINESSMIRROR on Sunday. “We did functional training, it’s good off-season work as training begins tomorrow for real [in Formia].” Lafferty said Obiena’s functional training focused on his strength

and balance, which is very important when pole vaulters are under pressure while staying mentally sharp. “It’s using many joints in motion, like vaulting lots of muscles working,” Lafferty said. “These weights have water in them, so they shift around and requires balance and stability training.” Lafferty said it’s a must in Petrov’s program for Obiena that is now focused on the Paris 2024 Olympics. “He [Petrov] doesn’t like to be late in their Olympic training program although Paris is nine months away. “They accelerate [im training] next week to get going,” he added. Obiena’s 2024 calendar will again be packed with the first quarter of the year set for the world indoor championships in Glasgow from March 1 to 3 and two indoor competitions elsewhere in Europe. There will be two outdoor competitions and then the Olympics, Lafferty added. Obiena is already qualified for the Paris Olympics after meeting the 5.82 meters standard last July 2 at the Diamond League’s Bauhaus-Galan meet in Stockholm.

CTION in athletics, boxing and volleyball kicks off the Reserved Officers Training Corps Games National Championships in various Metro Manila venues on Monday. Four gold medals are at stake at the PhilSports Complex in Pasig City as cadet-athletes compete in the men’s and women’s 200 meters 4x100 relays. Heats start at 7 a.m. with the finals set

How about some compassion?

ULES are rules. The reason why they are there is for people to have guiding principles on their conduct and actions

under the name Haudenosaunee (formerly the Iroquois) have won bronze medals in the lacrosse men’s world championships. But they cannot compete because the United States has a team (and they are the reigning champions) and they are 11-time champions. I have a proposal. If Russian athletes competed under the Russian Olympic Committee (ROC) tag instead of Russia due to the doping sanctions, why can’t the Haudenosaunee compete? Athletes have been allowed to compete as “Independent Olympians” for the following reasons—political transition, international sanctions, suspensions of national committees, and here—compassion. So why not the Haudenosaunee? In the last few years, I have followed Native Americans in music and sports. I saw this documentary Rez Metal about the band I Don’t Konform and the challenges in making music as well as to get away from drugs, alcohol

and crime. And there’s the inspiring Netflix series Rez Ball that has got to be one of the best basketball if not sports stories ever. Speaking of Netflix, how about that awesome fifth installment of the Predator film franchise, Prey, featuring Native Americans? That was such an awesome film. And it did bring some awareness to the Native Americans. Having said that...so why not the Haudenosaunee in Olympic sports? Think about how uplifting and empowering this would be for the Native Americans. And rightfully, if they make it, competing under the flag of the United States of America. Seriously, this is a no-brainer. If the International Olympic Committee can allow the Summer Games help in countries that have dictators and authoritarian governments, surely, you can allow these people to compete. It is the right thing to do.

at 3 p.m. Elimination bouts in boxing also fire off starting at 2 p.m. at the Dacudao Court inside the Rizal Memorial Sports Complex in Manila, while volleyball starts at 9 a.m. at the Technological State University Gym in Manila. Raising the curtain in volleyball are Adamson University against Tanauan Institute, followed by Jose Rizal Memorial State University

including their rights. Lawyers will probably dispute this but there should be room not for interpretation because that can lead people astray. Instead, there should be room for right. Emphasis on this statement—what is right is right. A few weeks ago, I lambasted the referees of the English Premier League for not stopping the game between Tottenham and Liverpool in order to correctly award a goal to Liverpool. But because the match had restarted, they didn’t because the laws of the game prohibit it. It wasn’t like a full 10 minutes had elapsed. Seconds only. The referees should have done the right thing and that is to award the goal. As it is, Liverpool lost and that could be a huge difference in the title race. Now, here’s this—lacrosse is coming to the 2028 Los Angeles Olympics. And the people who invented the game—Native Americans cannot compete. The Native Americans are competing

Del Rosario focuses on 2nd TLPGA title run

against Tarlac State University. Guimaras State University and University of Cagayan Valley follow suit, before the Northern Iloilo State University-Rizal Technological University tussle. Capping off the day’s matches are the duel between University of Negros Occidental Recoletos against TSU, and Adamson over JRMSU. Weigh-in and weapons check, as well as pairing and matching are set for arnis at the Ninoy Aquino Stadium, even as drawing of lots and solidarity meetings are scheduled for kickboxing and esports. Senator Francis “Tol” Tolentino, the brainchild of the ROTC Games, led the opening ceremony on Sunday at the Cuneta Astrodome along with Philippine Sports Commission chairman Richard Bachmann, Secretary Carlito Galvez and Commission on Higer Education chairman Prospero De Vera III.

OBIENA

SENATOR Francis “Tol” Tolentino (left) with Secretary Carlito Galvez (center), Prospero De Vera III during the opening ceremong at the Cuneta Astrodome. RUDY ESPERAS

ROTC Games nationals A kick off in metro

PAULINE DEL ROSARIO is trying to temper expectations.

AULINE DEL ROSARIO toned down expectations as she remains optimistic in her return to the Taiwan Ladies Professional Golf Association (TLPGA) alongside a formidable roster of Filipina campaigners in the Party Golfers Ladies Open unfolding November 8 at the Lily Golf and Country Club in Guanxi Township in Hsinchu county. Del Rosario marked her pro debut in style in 2017, winning four tournaments on the Ladies Philippine Golf Tour (LPGT) and capping it with a victory in the TLPGA and Royal Open. She charged back from seven strokes down in the final round and edged then TLPGA No. 1 Yu Ju Chen by one on a closing 66 at the Royal Kuan-Hsi Golf Club, also in Guanxi Township, thus becoming the first Filipina to win on the lucrative circuit. She then campaigned on the Women’s All Pro Tour (WAPT) and the Epson Tour in the subsequent years. While she nailed one title in the WAPT, she has yet to win on the LPGA Tour’s developmental league. But she is determined to improve her skills even as she continues to work on honing her abilities, believing that with proper training, determination and motivation, she can accomplish her mission. “Confidence is built on trust in one’s skill and that’s something I’m continuously working on,” said del Rosario after closing out the Epson Tour season at No. 79 with a best finish of tied 18th (Circling Raven Championship) in 20 events. But heading back to the site of her first pro international victory, the International Container Terminal Services Inc.-backed del Rosario, winner of this year’s LPGT leg at Caliraya Springs, is bristling with confidence after advancing to the LPGA Q-Series with a tied for 25th finish in Q-School Stage II last week. Still, she maintained: “I don’t have any expectations [coming to Taiwan]. I just focus on doing my practice routine.” The rest of the 16-player LPGT contingent are also downplaying their chances given the depth of the competing field in the 54-hole championship with six of the Top 10 players in the current TLPGA rankings leading the hosts’ title bid, led by No. 1 Ya-Chung Chang. The Thais, the Filipinas’ perennial rivals in regional competitions, are also fielding in a talent-laden roster, headed by veterans Chonlada Chanyanun, Ornnicha Konsunthea, Kultida Pramphun, Mookharin Ladgratok and multi-titled PK Kongkraphan, who are all regular LPGT campaigners. But the Philippines also has a crack roster headed by LPGT titlists Daniella Uy, Harmie Constantino, Chanelle Avaricio and Florence Bisera. Also in the fold 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, Lia Duque and Mafy Singson, who also topped the LPGT Valley leg. The NT$4 million event also reinforces the partnership between the LPGT and the TLPGA, initially established in 2015 through the Pilipinas Golf Tournaments Inc. The two circuits have continued to co-sanction various events with the alliance being renewed last February after they co-staged the inaugural Anvaya Cove Ladies Invitational at Anvaya Cove Golf and Country Club in Morong, Bataan.

EJ RETURNS TO FORMIA AFTER TRAINING VACATION IN DUBAI ERNIE GAWILAN is out to defend his three titles.

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Monday, October 23, 2023 | www.businessmirror.com.ph

By Anne Ruth Dela Cruz

S a child, he has always been fascinated with hotels with their grand lobbies and chandeliers. That gave Mario Justo Jr., Cluster General Manager for NCR+ of Megaworld Hotels and Resorts, the idea that it would be great working in the hospitality industry. This he did after he graduated with a BS Tourism degree from the University of the Philippines in Diliman. His first job was at a five-star bay area hotel where he was a Front Desk Clerk. However, it wasn’t long before he transferred to a soon to open international hotel. “When I graduated, the hotel industry was on the rise. There were a lot of global brands opening in Manila. Because of this, I tried my luck and eventually got hired as one of the pre-opening team members of New World Hotel,” Justo revealed. ‘I’d like to think that my previous experience gave me an edge over the other applicants. Competition was tough but so was the competition among the new hotels to get the best. It was why during that time compensation and employee benefits were also very competitive,” he added.

Higher position

For three years, Justo was content on learning as much as he could on the job as Front Desk Supervisor at New World until his previous boss suggested that he explore other hotels since he was ready for bigger responsibilities. His boss then recommended that he apply for the position of Duty Manager at an international five-star hotel in Manila. Although he was hesitant to leave a job that he loved, he accepted the challenge and sent over his CV. “After a missed interview schedule, I thought that I messed up my chances, but I guess it was for me because I eventually got hired,” recalled Justo. However, it seemed that fate had other plans for Justo. “I was happy to work as a first-time manager and was in it for the long run. But after a few months, I got a call from New World Hotel with an offer to come back and assume the role of Front Desk Manager under the management of the Renaissance brand of Marriott,” Justo related.

Career growth

MARIO JUSTO JR., CLUSTER GENERAL MANAGER FOR NCR+, MEGAWORLD HOTELS AND RESORTS AND GENERAL MANAGER, EASTWOOD RICHMONDE HOTEL

BERNARD TESTA

A HOTELIER’S HEART FOR HOSPITALITY

Although he had already been exposed to the operations of international brands, getting first-hand information and experience on the operations of the world’s largest hotel chain company was a whole new level for Justo. “I learned new systems, new procedures and new programs that were carried out across their brands which we then implemented in the hotel,” stated Justo. “I was able to further hone my knowledge not just on best hotel practices, but also in managing people.” After a couple of years, he was once again presented with the opportunity for career growth when he was invited to join the Marriott Hotel in Cebu as Front Office Manager which was an Executive Committee position. In three years, he would then be promoted to Director of Rooms. “I would consider my six-year stint in Cebu as a turning point in my career because I was able to face and overcome various challenges, build a good reputation in the industry, and also mentor staff,” he shared. “But, of course, Manila is still my home so I decided to pursue an opportunity that would allow me to return and be with my family,” he added. This opportunity turned out to be the company where he would find even greater fulfillment. This was Richmonde Hotel in Ortigas which was the first hotel property built by leading real estate developer, Megaworld Corporation. “When I joined Richmonde in 2007, it was still the only hotel of Megaworld but they already had plans of expansion,” recalled Justo. “The prospect of being a part of a growing hotel group excited me, plus I had always wanted to be involved in the planning and development stage of a hotel.”

Hotel openings

From 2008 to 2009, while Justo was busy with the operations of Richmonde Hotel Ortigas, he was also active in helping out with the construction and building plans of Eastwood Richmonde Hotel. It would be the first hotel of Megaworld in its first township, Eastwood City. “Prior to Eastwood Richmonde Hotel’s launch in 2010, I was appointed as the hotel manager. I formed my first team and together we shared all the birth pains of opening a new hotel,” said Justo. “I realized that it’s a totally different ball game when you’re given the sole responsibility of making sure the hotel runs smoothly—the guests are happy, the employees are also happy, and the hotel is achieving its targets,” he added. But it's the unexpected hiccups in running a hotel that keep Justo on his toes and he's not complaining. According to him, "There's nothing like the satisfaction of resolving issues and knowing the strategies you implemented worked." It was in 2015 when another Richmonde Hotel opened, this time in Iloilo City within Megaworld’s Iloilo Business Park. Justo was again tasked to assist in the planning and development of the project and for the first few years oversee its operations. Before long, Megaworld had other hotels in the works—Belmont Hotel Manila, Hotel Lucky Chinatown, Twin Lakes Hotel and others—where he contributed in one way or another in their construction and design. Then right in the midst of the pandemic, Prestige Hotels and Resorts, which managed the Richmonde properties and where Justo was head of operations, merged with Megaworld’s Global One Hotels to become Megaworld Hotels and Resorts. “It was a fairly smooth transition since we were still under the Megaworld Corporation family,” recounted Justo. “But it was the devastating effects of the lockdown and the personal struggles of the staff that made this time very stressful. If not for the support of MHR and Megaworld Corporation, and the understanding and dedication of my team, we probably wouldn’t have made it,” Justo admitted.

Work is fun

For Justo, time flies when you are having fun. He has been with the Megaworld group for the past 16 years and he continues to be happy and excited with the work he has been doing. He just completed spearheading the renovation works of the rooms and public areas of Eastwood Richmonde Hotel. Last year, he was appointed by MHR as Cluster General Manager for NCR+. This means that in addition to being the General Manager of Eastwood Richmonde Hotel, he is now also overseeing the performance of six other hotels, namely Richmonde Hotel Ortigas, Belmont Hotel Manila, Savoy Hotel Manila, Kingsford Hotel, Hotel Lucky Chinatown and Twin Lakes Hotel, not to mention preparing for the upcoming opening of new hotels like Grand West Hotel in Paranaque’s Entertainment city which is touted as the biggest hotel in the country with 1,500 room keys, plus other properties in the pipeline. “I must admit that it has not been easy. But when you love what you are doing, everything becomes so light, you become more patient and you become more understanding,” he said. “To last in this industry, or in any industry for that matter, you have to play to your strengths. I believe my strength is that I’m a people person. I love working with others and leading teams. My goal is always to inspire and guide. I learned that people are more motivated to do their best when they know you trust them to do a good job,” Justo added. When asked about his future plans, Justo said his goal right now is to follow through all the projects that he has started. “I also love the culture that we have developed, and I still want to be part of the growth of the company. I see myself staying on with Megaworld. We still have a lot of hotels to open and I want to help in whatever way that i can,” he said.