BusinessMirror September 07, 2021 by BusinessMirror

DOF chief nixes debt cap, Debt Board By Bernadette D. Nicolas

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: ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

66 A-IDEA CONSULTING INC. Rm. 404 Caeg Building Dela Rosa St. Pio Del Pilar Makati City HAN, DAWEI Basic Qualification: Chinese Customer Officer Proficient in reading, writing and speaking in mandarin Brief Job Description: 1. Handling inbound and outbound service support Salary Range: calls Php 30,000 - Php 59,999

See “dole ncr” on A6-A7

@BNicolasBM

INANCE Secretary Carlos G. Dominguez III has thumbed down the proposed House bills seeking to put a cap on the government’s debt and create a Debt Management Board. Dominguez said placing a debt cap would only hinder the government from acting fast, especially in times of crisis. House Bill 4538 filed by Batangas Rep. Vilma Santos-Recto in 2019 proposed a debt cap of 50 percent of GDP. It also seeks to put a cap on the borrowings of the national government by mandating the Chief Execu-

tive to go back to Congress and seek authority to borrow more should the national government’s fiscal deficit target, as submitted by the President, be breached before the end of the fiscal year. “As you know, Indonesia has a debt cap law and I think a deficit law, and the moment the pandemic struck, they threw it out so what’s the point of having one when you are really going to breach it you’re just going to throw away the law?,” Dominguez told a House Committee on Ways and Means hearing on Monday. Dominguez stressed that Congress already has the power to determine the government’s debt cap

when it approves the national budget proposed by the Executive branch. “I don’t think at this point, there is a need to put a cap and make the country very inflexible,” Dominguez added. On House Bill 819 establishing a debt management board filed by Muntinlupa Rep. Rozzano Rufino B. Biazon also in 2019, Dominguez said the government has already sufficient oversight on debt management. Under the bill, the Cabinet-level Debt Management Board to be chaired by the President will integrate and coordinate the country’s debt management system that includes debt recording and inventory, debt monitoring, and analysis, risk

management, debt planning, debt service payments, advice on debt negotiations and borrowings, and formulation of debt policies and strategies. “Quite frankly, at present, we have all the procedures already and the different sets of institutions look at our debt, including the Monetary Board, which is independent, the DBCC [Development Budget Coordination Committee]and the ICC [Investment Coordination Committee] in Neda [National Economic and Development Authority] so I think we have sufficient oversight already, at this point in time,” Dominguez said. See “DOF chief,” A2

JCR AFFIRMS A- RATING

Tuesday, September 7, 2021 Vol. 16 No. 328

P25.00 nationwide | 2 sections 18 pages |

OF PHL AMID OUTBREAKS EXPERTS: NCR UNDER GCQ UNWISE AMID COVID SPIKE By Cai U. Ordinario @caiordinario

POLICE Corporal Francis Rey Perucho checks on a passenger shuttle bus that passes along the Naia Terminal 3 in Pasay City on Monday to ensure that proper health protocols are followed in commuter vehicles. Authorities have intensified anti-Covid health checks at the airport and nearby places, as the government prepares to shift to granular lockdowns in Metro Manila from September 8 to 30. NONIE REYES

By Bianca Cuaresma

@BcuaresmaBM

APAN Credit Rating Agency (JCR) announced on Monday that it is affirming its rating of the country amid the persistence of Covid-19 outbreaks, citing the country’s “high and sustainable economic growth performance underpinned by solid domestic demand.”

In a statement published on its web site, JCR said it is affirming its A- rating on the country’s Foreign Currency Long-term Issuer Rating with a stable outlook. “The ratings mainly reflect the country’s high and sustainable economic growth performance underpinned by solid domestic demand, its resilience to external shocks supported by an external debt kept low relative to GDP and the accumula-

tion of foreign exchange reserves, the government’s solid fiscal position, and a sound banking sector,” JCR said. The ratings agency said that at the moment, recovery of economic activities is being delayed due to re-strengthened mobility restrictions forced by the resurgence of Covid-19, fueled mainly by the Delta variant.

PESO EXCHANGE RATES n US 49.7810

See “JCR,” A2

LACING Metro Manila under General Community Quarantine (GCQ) at this time may not be ideal given the surge in Covid-19 cases, according to local economists. On Monday morning, the Palace announced the decision of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) to place Metro Manila under GCQ, the least restrictive quarantine level. In the afternoon of the same day, the Department of Health (DOH) announced that the country registered another record high of daily Covid-19 cases pegged at 22,415 cases. “No, it’s not [the right time to ease restrictions]. The rela xation should come with tangible improvements, which I and many others do not see. Opposite pa nga ang nangyayari eh [what even happened was the opposite],” Ateneo Center for Research and Development (ACERD) Associate Director Ser Percival K. Peña-Reyes told the BusinessMirror. Peñ a-R e yes sa id ea si ng

restrictions must be done in parallel with vaccination. However, he lamented that many still do not want to get vaccinated because they fear that they might die because of it. He hoped the government would adopt a more proactive approach in persuading Filipinos to get vaccinated. As it is, many Filipinos become victims of “misinformation and fear-mongering” which he said will hurt the economy even more. Peña-Reyes also expressed his doubts that the GCQ can boost the economy given the recent surge. He said the impact of the surge on the economy is “too big to play down.” Given these conditions, it is likely that the economy may stay in negative territory this quarter and, possibly, in the full year, he said. “I hope the government can adopt a more proactive and missionary mindset in its vaccination efforts. Go to villages. Get people to sign up for vaccination. Run infomercials more frequently. Assure people that they will not die because of vaccines,” he stressed. See “Experts,” A2

‘Granular lockdowns to spur production’ By Tyrone Jasper C. Piad @Tyronepiad

MPLEMENTING granular lockdowns may spur production and export revenues for the manufacturing sector which recently saw a contraction amid heightened restrictions, the largest exporters alliance said. Philippine Exporters Confederation Inc. (Philexport) Chairman George T. Barcelon is optimistic that easing the mobility restrictions will bode well for the manufacturers and exporters in the coming months. “I believe the numbers will pick up in the following months for both domestic and export trades,” he told the BusinessMirror. “Authorities now realize [that a] lockdown has a downside impact economically and shifted to LGU [local government unit] granularity.” According to the latest IHS Markit report, the country’s purchasing managers index (PMI) slid to 46.4 in August, a steep drop from

‘‘I believe the numbers will pick up in the following months for both domestic and export trades.”—Barcelon

50.4 in July. It is the lowest record of the Philippines since May last year, effectively erasing previous gains by the industry. The decline was attributed to the implementation of the two-week enhanced community quarantine in August amid the growing cases of Covid-19 Delta variant.

PMI indicates the health of a country’s manufacturing sector and a reading of below 50 is deemed a contraction; above-50 score signals expansion. While the granular lockdown promises better mobility, Barcelon said exporters will not still be able to meet this year’s targets. For one, the Philexport official said the electronics sector—comprising the bulk of the country’s exports—is still reeling from shortage of components. Barcelon noted this concern is on top of the continued shipment delays due to container imbalance in the pandemic. (Read related story: Export goal reviewed amid shipment delays, https://businessmirror.com.ph/2021/07/12/exportgoal-reviewed-amid-shipmentdelays/) Trade Secretary Ramon M. Lopez recently said that the Covid-19 Inter-Agency Task Force has agreed to launch a pilot test of granular lockdowns in Metro Manila beginning

September 8. The measure is eyed to be implemented in other areas by next month. Lopez said the granular lockdown guidelines break down the degree of restrictions into levels 1-4; 4 is the most restrictive. He stressed that people are not allowed to go in and out of the vicinity under lockdown, except for health-care workers. The lockdown may be placed for 14 days, he said, explaining that the period may be adjusted depending on the situation. In a previous interview with the BusinessMirror, Barcelon said imposing hard lockdowns affects the supply chain of the export-oriented manufacturers. He explained that exporters find it difficult to transport supplies coming outside the capital region given the restrictions. In addition, the companies will also need to work around with new schedules of production, he said. Metro Manila is under general community quarantine from September 8 to 30.

n JAPAN 0.4535 n UK 68.9915 n HK 6.4057 n CHINA 7.7078 n SINGAPORE 37.1196 n AUSTRALIA 37.0868 n EU 59.1498 n SAUDI ARABIA 13.2735

Source: BSP (September 6, 2021)

News

BusinessMirror

A2 Tuesday, September 7, 2021

Senate OKs bill resetting 1st Bangsamoro elections

HE Senate, voting 15-3 with one abstention, passed on third and final reading Monday the bill resetting the first regular elections in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Sponsored by Senator Francis Tolentino, chairman of the endorsing Committee on Local Governments, Senate Bill 2214 proposed to move the date of the BARMM elections from May 2022 to May 2025, to synchronize with the next national elections, by amending Section 13, Article XVI of Repub-

lic Act 11054 or the Bangsamoro Organic Law (BOL). Tolentino credited the hard work of the Bangsamoro Transition Authority (BTA) which accomplished much despite the global pandemic’s significant challenges to the execution of the priority programs and projects of the

Bangsamoro government. After holding committee hearings and consultations with stakeholders, Tolentino said his committee saw the need to extend the BARMM transition period in order to implement the political and normalization efforts embodied in the Comprehensive Agreement on the Bangsamoro. “However, it [the committee] is also mindful of the Bangsamoro people’s right to assert their democracy in the said region and exercise their right of suffrage. Although the BTA has considerably delivered some of its mandates under the BOL, there is much work yet to be done,” Tolentino explained. Under Senate Bill 2214, upon the expiration of the terms of the incumbent members of the BTA, the President shall appoint 80

Experts…

such as former Dean of the Ateneo de Manila School of Social Sciences Fernando T. Aldaba said greater effort must be placed on testing and contact tracing. He also recommended that the government put up more vaccination stations along with the implementation of the supply management and distribution of vaccines. UnionBank Chief Economist Ruben Carlo Asuncion added that without these, the government may also be throwing away any gains from the last ECQ and MECQ. These, along with efforts to con-

trol the spread of the virus, are important considerations in loosening quarantine restrictions. De La Salle University economist Maria Ella Oplas added that even if the government eased mobility restrictions, this is not a guarantee that more people will troop to business establishments to spend. Oplas said a lot of people are scared about the Delta variant because it does not only infect adults but also children. “It is sad because many people who can’t work from home are taking so many risks going out to earn incomes.

Continued from A1

For one, BPI chief economist Emilio S. Neri noted that before loosening restrictions, it was important to look at how many seniors are already vaccinated in Metro Manila. Neri said if 85 percent of the senior citizens in the National Capital Region (NCR) are vaccinated, this will not lead to more deaths if the government loosens restrictions. This is why other economists

members of BTA who will serve up to June 30, 2025 or until the election of their successors. “This piece of legislation is a testament to our continued efforts to maintain peace and push for inclusive growth in the BARMM region. Peace is elusive but it is attainable,” Tolentino said. Majority Leader Juan Miguel F. Zubiri, Senators Richard Gordon, Aquilino Pimentel III, and Risa Hontiveros were also listed as coauthors of the BARMM extension bill. In the House of Representatives, the Committees on Suffrages and Electoral Reform, Muslim Affairs, and Peace, Reconciliation and Unity, approved last week a committee report that consolidated proposals to extend the BARMM elections. Butch Fernandez

Economic recovery will be slow and gradual given how we are managing our health response,” Aldaba told BusinessMithe on Monday.

Granulars backed

MEANWHILE, Socioeconomic Planning Secretary Karl Chua said the National Economic and Development Authority (Neda) supported the move toward granular lockdowns to manage the risks. This, Chua said, would allow the bigger majority to earn a living. This will be done along with efforts to accelerate the government’s vaccination program which will improve confidence. For University of Asia and the Pacific Dean Cid L. Terosa, placing NCR under GCQ may allow the government to test the measures that it has taken so far. Terosa sa id easing mobi lit y restrictions will “ boost production and infuse economic momentum” in Metro Manila, which was among the most affected by the lockdowns. Ateneo de Manila University John Gokongwei School of Management Dean Luis F. Dumlao noted that a partial reopening of the economy is equivalent to activating one-third of it. “W hile many might consider the imposition of GCQ premature, I think it is a test of whether all the measures we have taken so far are good enough to prevent the situation from worsening despite the GCQ,” Terosa said. On Sunday, the DOH recorded its third consecutive posting of over 20,000 new Covid-19 cases. The total number of infections then stood at 2,080,984.

Go…

Continued from A10

In a privileged speech in the Senate last August 31, Go stressed that culprits who are proven to be complicit in any wrongdoing should be brought to justice. He did underscore, however, that due process must be followed. He was put on the defensive after certain quarters noted that before going to PS-DBM, Lao had worked in the Presidential Management Staff (PMS), where Go once worked before being elected senator in 2019. In Sunday’s interview, Go said there is an Ombudsman and the Sandiganbayan to run after grafters, “and those proven guilty must be jailed.” At the same time, Go stressed that “the country’s judicial system must be trusted.” He explained that legislators could have raised concerns early on regarding the transactions being investigated now, particularly the involvement of the PS-DBM in the purchase of PPEs. Go noted that these have been included in the regular report of the Executive branch to the Joint Oversight Committee of the Legislative branch as required by the Bayanihan 1 and 2 laws. Butch Fernandez

www.businessmirror.com.ph

JCR…

Continued from A1

JCR said, however, the government has been “swiftly implementing adequate measures such as increased public health-related expenditures, acceleration of vaccination.” The ratings agency added: “JCR does not consider that the fiscal soundness will be impaired because while the fiscal deficit has widened, the support package at this time is backed by appropriate fiscal policies and the government debt will remain comparatively subdued. Legislation proposals including tax reforms have been steadily progressing backed by the administration’s high performance and trust ratings.” It said, “Remittances from workers abroad remain solid and the Philippine economy stays highly resilient to external shocks even amid the deteriorated global economic conditions. Based on [this], JCR has retained the ratings with a stable outlook.” Economic managers in the country welcomed the affirmation, calling it a vote of confidence in the Philippine economy amid turbulent waters. “ We thank JCR for seeing through the short-term challenges confronting the Philippines and recognizing the Duterte administration’s scaled-up efforts to put the economy back to its high-growth path. Such recovery programs include the faster Covid-19 vac-

cination deployment; accelerated infrastructure development; and continued push in Congress for further reforms to super-charge the economy and modernize taxation,” Finance Secretary Carlos Dominguez III said. “The Philippine government aims to achieve a strong and quick economic recovery through sustained spending on its priority programs and productive investments while maintaining deficit and debt manageability. We are not passing on unsustainable debts to future generations, even as we continue to spend more on pandemic response and on economic recovery to ensure robust medium- and long-term growth prospects for the Philippines,” he added. JCR projects the country’s economic growth in 2021 to hit 4 to 5 percent due to the resurgence of the pandemic since the middle of the year. “Once the pandemic gets subdued, however, the country’s potential growth will recover and the economy is expected to return to a high growth path,” JCR said, citing the large-scale infrastructure development plan that has been progressing under the public investment program worked out by the administration. The ratings agency also said the country’s debt-GDP ratio will likely stay at 50 percent levels despite the projected lower fiscal deficit.

DOF chief… In the same hearing, Dominguez said the 15-percentage-point increase in the country’s debt-toGDP ratio from a historic low 39.6 percent in 2019 to 54.6 percent in 2020 “is still within the prescribed bounds of fiscal viability and the experience of our neighbors and rating peers globally.” He added that the sustainability of the country’s debt depends on two factors: the cost and the ability to generate economic activity to pay it off. “It is important to note that about 25 percent of our domestic economy consists of government spending. If we did not increase the level of public spending through borrowings, the domestic economy would have collapsed. This event would have inflicted a far more painful toll on our people,” he said. Moving forward from the pandemic, Dominguez said the economy must grow in order to bring down its debt-to-GDP ratio. “The best way you can get out of this debt is to grow out of it that after this pandemic, we will grow at

DBM…

Continued from A1

rates that will allow us to bring down our debt. And our cooperation with Congress since 2016 has allowed our economy to grow fast and reduce our debt to the lowest it has ever been for maybe 30 years,” he said. As of end-July this year, the national government’s outstanding debt has already piled up to a new record-high of P11.61 trillion, swelling by 26.7 percent from P9.16 trillion a year ago. The national government’s outstanding debt this year is also expected to balloon by year-end to P11.73 trillion, up by 19.8 percent from P9.795 trillion in 2020. This is also projected to further swell in 2022 to P13.42 trillion. As a percentage of GDP, Dominguez earlier said the debt-to-GDP ratio this year is projected to further rise to 59.1 percent and peak next year at 60.8 percent—slightly above the internationally accepted threshold—before gradually tapering off to 60.7 percent and 59.7 percent in 2023 and 2024. As of end-June this year, the country’s debt-to-GDP ratio is already at 60.4 percent.

Continued from A10

For LGUs getting GEF, this would be on top of their NTA allocation. However, Bonagua said this allocation of the GEF has yet to be presented in the next meeting of the Commission on Devolution (ComDev). Under Executive Order 138, ComDev is tasked to propose a GEF to Congress to address issues on marginalization, unequal development, high poverty incidence, and disparities in the net fiscal capacities of LGUs. Chaired by the secretaries of the Department of Budget and Management and the DILG, ComDev also has the secretaries of the National Economic and Development Authority, the Department of Finance, Executive Secretary, and the presidents of the leagues of local government units (LGUs) as its members. While the eligibility criteria for the GEF has yet to be finalized, Bonagua said the estimated GEF allocation was pro-rated based on poverty incidence and per capita

NTA for the fiscal year 2022 based on the 2020 Census of Population. Citing the latest estimates, Bonagua said the government is eyeing to allocate an average amount of P187.5 million to 16 provinces, and an average of P27.1 million to 258 municipalities for the 2022 GEF. Based on the proposed 2022 national budget, local government units’ NTA share is P959 billion, higher by around 38 percent compared to the previous year’s share. The Supreme Court’s Mandanas ruling expanded the basis for the computation of Internal Revenue Allotment—now called National Tax Allotment—to include collections not only of the Bureau of Internal Revenue, but also customs duties collected by the Bureau of Customs, a part of taxes collected in Bangsamoro Autonomous Region in Muslim Mindanao, taxes from the exploitation of national wealth, excise tax on tobacco products and other taxes provided in the National Internal Revenue Code and franchise taxes.

The Nation BusinessMirror

Editor: Vittorio V. Vitug

Tuesday, September 7, 2021 A3

PHL logs new daily record-high Covid cases at 22,415 By Claudeth Mocon-Ciriaco

he Philippines has again logged a record-high of daily Covid-19 cases at 22,415, the highest daily number of infections recorded since the pandemic began. This brings the total number of cases in the country to 2,103,331. The Department of Health (DOH) also recorded 20,109 recoveries and 103 deaths. Of the total number of infections, 7.6 percent (159,633) are active, 90.8 percent (1,909,361) have recovered, and 1.63 percent (34,337) have died. Sixty-eight duplicates were removed from the total case count. Of these, 53 are recoveries. Moreover, seven cases that were previously tagged as recoveries were reclassified as deaths after final validation. All laboratories were operational

on September 4, 2021, but 8 labs were not able to submit their data to the Covid-19 Document Repository System. Based on data in the last 14 days, the 8 non-reporting labs contribute, on average, 2.3 percent of samples tested and 2.3 percent of positive individuals.

‘Slowing down’

DOH said that Metro Manila and some regions have shown a “slowing down” in the increase of Covid-19 cases, but national case classification and health systems capacity remain at high risk. Health Undersecretary Maria Rosario Vergeire said majority or 95 percent of provinces, highly urbanized cities, and independent component cities remain flagged under Alert Level 3 and 4. “More than half of the regions still with high-risk health capac-

ity and majority or 82 percent of flagged areas have high-risk health capacity,” Vergeire said in an online media briefing. She warned that cases may still continue to increase in the next weeks due to higher transmissibility of the Covid-19 Delta variant. “And as we continue active case finding in areas, [we need to]: Implement strict granular lockdowns, shorten interval between detection and isolation, and enforcing minimum public health standards [MPHS] adherence to cut community transmission; Strengthen triage and referral systems and augment healthcare capacity to safeguard health capacity and; Ramp up priority vaccination to protect vulnerable population,” she said.

Top regions and areas with new cases

For September 5, 2021, the DOH

said that the top regions of new cases are: National Capital Region (NCR)—5,102; Region 4A—4,430; Region 3—2,197; Region 1—1,413, and Region 7—1,061. The top areas of new cases are: Cav ite—1,521, Lag una—1,158, Rizal—841, Quezon City—829, and Bulacan—827. As of September 5, the average daily reported cases: August 30-September 5: 18,292 August 23-29: 16,513 August 16-22: 14,349 August 9-15: 12,000. The previous peak was recorded on March 29-April 4: 10,431, while a new peak was seen every week since the second week of August. Vergeire said “all areas at an uptrend, Luzon areas show ing steep increase, and Visayas areas at a plateau.” Eleven reg ions at high-r isk case classification are; si x regions w ith high-r isk beds and

ICU utilization; 3 other regions with high-risk ICU utilization.

7 (22), Caraga (12), Region 12 (12), Region 1 (12), and Region 10 (10).

NCR cases

Proactive measures

NCR continues its upward trend with reported cases, increasing by 13 percent versus previous seven days. The average daily reported cases: August 30-September 5: 4,974: August 23-29: 4,400: August 16-22: 3,883: August 9-15: 3,267. Cases peaked on March 29-April 4 at 5,536. All areas in NCR have high-risk average daily attack rate, moderate to high-risk utilization rates for all districts; 16 areas with high-risk health systems capacity.

Deaths

Vergeire noted that deaths per day at 135 in April. The DOH is also closely monitoring Regions 3 after it recorded 56 deaths from September 1-5, NCR (26), Region 4A (24), Region

Virus claims life of Army general in Mindanao By Rene Acosta

@reneacostaBM

senior military official ser ving as deputy commander of an Army division in Mindanao has died of Covid-19, one of his academy classmates revealed.

Brig. Gen. Bagnus Gaerlan succumbed to the dreaded virus on Monday, according Major Gen. Ernesto Torres Jr., commander of the Army’s 10th Infantry Division. “It is with deep sadness that we would like to inform the friends

and relatives of our mistah, BGen Bagnus Gaerlan [of] PMA ‘89, that he succumbed to the deadly Covid virus early this morning,” Torres said. Gaerlan was the assistant division commander of the famed 1st Infantry “Tabak” Division based

in Zamboanga del Sur and was Torres’s classmate at the Philippine Military Academy (PMA). “For those who wish to pay their last respects, details of interment will be posted as soon as obtained,” Torres, who is the Army chapter president of PMA Class of

1989, said. According to Torres, Gaerlan was the fourth member of the PMA Class of 1989 who died due to Covid-19 infection. “Bagnus is the 4th member of the class to drop their working tools due to Covid,” he said, naming the three others as Jun Unson,

Vergeire stressed that it is still expected that strict enforcement of MPHS especially in areas or activities included in 3C’s: closed, crowded, close contacts. There is also a need to strengthen the active case finding and immediate isolation in granular lockdown areas; Ongoing augmentation of health system capacity and transfer of asymptomatic/mild cases to community facilities; Continuous monitoring of cases and healthcare utilization for adjustments in policy and response; Continuous implementation of border control restrictions and policies; Continuous coordination among national and local governments and; continuous provision of up-to-date information to the public.

Danny Olay and Allan Cordova. T he m i l it a r y, t h rough it s spokesman, Col. Ramon Zagala, said it has already recorded 17,133 Covid cases, and out of this number, 15,244 were recoveries. Zagala said 35 personnel have also died.

A4 Tuesday, September 7, 2021

Economy BusinessMirror

Editor: Vittorio V. Vitug

Question: Would you sign an Integrity Pledge? By Henry J. Schumacher

hen we at the Integrity Initiative launched the Integrity Pledge in 2011, we saw the Pledge as a clear commitment

to ethical business practices and good corporate governance. About 3,500 companies signed the Pledge, acknowledging the companies’ responsibility to lead by example in the fight against corruption and to

operate their businesses ethically and with integrity. Signing the Pledge comes with the following commitment: n We will prohibit bribery in any form in all activities under our con-

trol and ensure that our charitable and political contributions, business gifts, and sponsorships are transparent and will not be for the purpose of attempting to influence the recipient, whether government or private,

into an improper exercise of functions, duties or judgment. n We will maintain a code of conduct to guide our employees towards ethical and accountable behavior at all times, and will apply appropriate sanctions for violations of the code. n We will conduct training programs for our employees to promote integrity, honesty, and accountability in the exercise of their duties and responsibilities and to convey with resolve our company’s commitment to ethical business practices. n We will implement appropriate internal systems and controls to prevent unethical conduct by our employees, ensure good governance, and institutionalize the values of integrity and accountability in our business. n We will maintain appropriate financial reporting mechanisms that are accurate and transparent. n We will maintain channels by which employees and other stakeholders can raise ethical concerns and report suspicious circumstances in confidence without risk of reprisal, and a designated officer will be tasked with investigating all reports received. n We will enter into integrity pacts with other businesses and with government agencies when dealing with procedures related to the bidding and procurement of supplies, materials, equipment and construction. n We will refrain from engaging in business with entities who have demonstrated unethical business practices. To ensure collective action among business enterprises to foster ethical, clean, and transparent business trans-

actions in the Philippines, the Pledge signatories commit to: 1.Support a nationwide initiative intended to create fair market conditions, transparency in business transactions and ensure good corporate governance; 2. Participate in roundtable discussions, meetings and forum to identify the key concerns and current problems affecting the private sectors related to integrity and transparency in business transactions; 3. Share “best practice,” tools and concepts which are intended to be used by all participating entities to achieve the goals of the nationwide initiative; 4. Assist and contribute ideas to develop a unified “Business Code of Conduct” acceptable to all participating entities; 5. Participate in the creation of key measures and control activities intended to ensure transparency, integrity and ethical business practice. Ten years later, I am asking myself why did not more companies sign the Pledge and committed themselves to implement good governance rules? Has it something to do that the corruption situation in the Philippines has not really improved? If yes, would you support private sector endeavors to push integrity and anti-corruption? More importantly, are YOU ready to sign the Pledge today? If yes, send me an e-mail and I will send you the Pledge form. If not, send me an e-mail and explain why not. I really look forward to your feedback— contact me at hjschumacher59@gmail.com

News BusinessMirror

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

Expert: Teaming up with competitors a ‘must’ in emerging digital ecosystem By Tyrone Jasper C. Piad @Tyronepiad

hriving in the digital ecosystem now needs collaboration even with competing companies amid the increasing interconnectivity, a consultancy service firm said. Tata Consultancy Services (TCS), in its recent report, found out that senior leaders across the globe are anticipating growth from new digital offerings in the next four years. TCS Philippines Country Lead Shiju Varghese said the same trend has been experienced in the country, noting the accelerated shift in digital to cope amid the pandemic. “Local leaders continue to find holistic and safe solutions to empower businesses, employees and consumers today and beyond,” Varghese said. As such, “operating successfully in digital ecosystem will require working with companies that are competitors today, or will be in the future, and which will own key pieces of the digital ecosystem infrastructure. No company can be a self-sufficient island anymore in a digitally interconnected world,” TCS said. According to the TCS study, majority or 80 percent of the “leader” respondents—or companies that booked higherthan-average growth in revenue and profit during 2015-2019 period—understood the need to partner with competitors. Among the areas of collaboration include sales, marketing, research and development, production, distribution and customer service. Apart from anticipated revenue growth from digital products and services, the leaders are also seeing “greater digital marketing, sales and service processes.” “The ability to participate with competitors and partners in cross-industry digital ecosystems with new, more highly digital products and

services will be essential to seize new, revenue-driving opportunities in the mid-2020s,” the report explained. In addition, over half of the leaders also said they consider the digital ecosystem when crafting strategies and plan to expand collaborations as 56 percent of their revenues will be sourced from digital offerings. The following industries, the study noted, develop their strategies “through a digital ecosystems lens”: securities and investment companies, retail, banking and credit institutions, technology, insurance and telecommunications. Meanwhile, the consultancy firm stressed that companies should implement a more consumer-centric policy to access more opportunities in the digital ecosystem. The firms must collect and analyze consumer data to further understand the market, the report added. “Gaining insights from their customers—about their experiences, their preferences, their openness to new offerings, their position in relation to a company’s marketing messages—is essential for companies strengthening existing revenue streams and determining how to build new ones,” TCS explained. According to the survey, the majority said they are improving the use of customer data to have better products and services and to develop new offerings. “Customer data is the essential fuel of modern businesses; the best ones collect more data, analyze it better, and are quicker and better at acting on it,” TCS added. For the study, TCS surveyed over 1,200 chief executive officers and senior executives from North America, Europe, Asia Pacific and Latin America. They came from different sectors, including retail, manufacturing, insurance, banking and financial and health care.

@caiordinario

he National Economic and Development Authority (Neda) believes there is no need to amend the 25-year old Official Development Assistance (ODA) Act as the legislation remains “responsive” to the country’s needs. In a Ways and Means Committee Hearing at the House of Representatives on Monday, Neda OIC-Undersecretary for Investment Programming Jonathan L. Uy said if there were adjustments that needed to be made, the ODA Act still allowed the government some flexibility. Uy recounted an “equipment and assets improvement” project for the Department of Health (DOH) being funded by the World Bank. The project was reformatted to become Heal Covid-19, which included vaccination procurement. “On the part of Neda, there is no need to amend the law at this point in particular in response to Congresswoman [Sharon] Garin’s question. The existing process actually has already been able to be responsive and flexible with regard to changing the nature of the approved projects,” Uy said. Uy sa id prov isions i n t he ODA Act have allowed the Neda to reformat the project quickly. The DOH project is funded by a $150-million loan from the

Washington-based lender. On average, Uy said, the Investment Coordination Committee (ICC) process takes about three to four months. However, if the submissions to the ICC are complete and are compliant with the ICC guidelines, it could take only a month to approve projects. Based on his presentation, Uy said, the Neda Secretariat project appraisal usually takes four to six weeks; the ICC Technical Board endorsement and ICC Cabinet Committee approval together take one to two months; and the Neda Board confirmation of the ICC approval takes a month. The ICC is one of seven interagency committees of the Neda Board. The ICC evaluates major national projects and recommends the timetable of the project implementation; advises the President on domestic and foreign borrowings; and submits a status of the major national projects.

Paris Declaration

Neda stressed that 90 percent of the country’s ODA loans and grants are untied and compliant with the Paris Declaration on Aid Effectiveness Principle 8. Under Pr inciple 8, countr ies must push for t heir ow n cou nt r y s y stem s i n u nt y i ng a id . Tied a id is common a mong bil atera l loa ns a nd g ra nts where donors automat ica l ly have t he

Amid reports of ‘illegal’ pay deductions, Bello halts job program in 3 QC districts By Samuel P. Medenilla

@sam_medenilla

he Department of Labor and Employment (DOLE) has suspended the implementation of its emergency employment program in three Quezon City districts after some beneficiaries reported “illegal” deductions from their pay. At a virtual briefing last Monday, Labor Secretary Silvestre H. Bello III said the suspension would affect Tulong Panghanapbuhay sa Ating Disadvantaged/ D i s pl aced Workers ( T U PA D) implementation in Districts 1,

2, and 5 of Quezon City. This after some of the TUPAD beneficiaries in the said districts complained some people deducted P5,000 from their P5,370 pay for their 10-day work under the program when they claimed their compensation in designated remittance centers. Bello said he had already ordered Labor Undersecretary Ana Dione to coordinate with the local government unit (LGU) of Quezon City to investigate the pay envelope deductions. He suspects some government officials may be involved in the illegal deduction.

Depending on the outcome of the probe, DOLE may file a criminal case against the people behind the deductions. Bello noted while the irregularities in TUPAD implementation is considered “ isolated,” he expressed concern over the said reports since it involves millions worth of public funds. “I did not get any similar reports in other regions...but it is still alarming considering it involves large funds. That is why I ordered its [TUPAD] suspension. In the second district alone, there are still P59 million [TUPAD funds] which is yet to

be distributed,” Bello said. T he l abor c h ief rem i nded other TUPA D beneficiar ies not to a l low u nscr upu lous people to t a ke t heir ha rd- ea r ned pay. “Remember, that is your pay after working for 10 days so nobody—either local government official or an official of the Department of Labor and Employment—have no right to interfere when you claim it,” Bello said. For this year, DOLE said it has already released P12 billion worth of TUPAD funds, which benefited 3 million displaced workers.

Group upbeat on crafting of corn industry road map By Jasper Emmanuel Y. Arcalas

@jearcalas

he Philippine Maize Federation Inc. (PhilMaize) said the crafting of a corn industry road map is a step in the right direction, which it hopes would pave the way for the “full development” of the industry. “We welcome this development and we just hope that our dreams and advocacy for the corn program of the Philippines will be included in the road map, such as establishment of post-harvest facilities,” PhilMaize President Roger V. Navarro told the BusinessMirror. Navarro explained that the most crucial inter vention that t he dome s t ic cor n i ndu s t r y needs are post-har vest facilities, explaining that only 3 percent of farms have sufficient post-har vest facilities. “We still need to cover 97 percent,” he added. Navarro proposed that the road map should include the establishment of a Philippine Corn Industry Development Administration and the strict implementation of the Republic Act 7607 or the Magna Carta for Small Farmers. “We should promote the creation

ODA Act remains responsive to PHL needs–Neda exec By Cai U. Ordinario

Tuesday, September 7, 2021

r ight to appoint a cont ractor for a cer t a in project. “The preference for ODA for our priority projects should be untied in terms of source, international and local. At this point, bulk of our funding, or meaning to say considering both bilateral and multilateral, about 90 percent of all of our ODA are coming from multilateral and bilateral sources with untied [terms],” Uy said. The Paris Declaration on Aid Effectiveness, drafted in 2000, aims to improve the use of ODA and make it more responsive to the world’s development needs. The 12 indicators of the Paris Declaration are on Partners having operational development strategies; Building reliable country systems; aligning aid flows with national priorities; and strengthening capacity by coordinated support. Other indicators were indicators on the use of country Public Financial Management Systems; use of Country Procurement Systems; Avoiding parallel implementation structures (PIUs); the predictability of Aid; and untying aid. The last batch of indicators include indicators on using common arrangements or procedures; joint countr y missions; joint country analytical work; quality of country performance assessment framework; and the availability of mechanisms for mutual assessment of progress.

of the Philippine Corn Industry Development Administration that will more or less monitor and manage the interventions for the corn industry,” he said. Navarro also proposed the creation of a commod it y exchange to complement the establishment of var ious posthar vest facilities nationwide. The commodity exchange, Navarro explained, would ser ve as a commodity trading platform that would “guarantee farmers’

income” by stabilizing prices and ensuring supply for end-users. “We hope that the corn road map will open the full development for the industry, to guarantee farmers’ income, stabilize prices and supply, thereby guaranteeing the end-users’ input costs,” he said. The Department of Agriculture (DA) earlier said it is crafting a corn industr y development road map that will outline interventions for boosting corn

production amid rising demand for animal feed. (Related story: https:// businessmirror.com. p h / 2021 /0 9/0 6/i m p rov i n gcorn-yield-will-benef it-livestock-poultry-sectors-da/) Agriculture Secretary William D. Dar said the creation of a “strategic and robust” corn industry road map is necessary to provide long-term guidance for ensuring the sustained contribution of the corn sector to the meat value chain and the country’s food security.

BusinessMirror

Tuesday, September 7, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

66 A-IDEA CONSULTING INC. Rm. 404 Caeg Building Dela Rosa St. Pio Del Pilar Makati City HAN, DAWEI Chinese Customer Officer 1.

Brief Job Description: Handling inbound and outbound service support calls

LOH WEI CHEN Customer Service Representative Mandarin Speaking Basic Qualification: Proficient in reading, writing and speaking in mandarin

Brief Job Description: Advises on matters regarding the supply chain of Alfamart from distribution centers to stores

18.

WANG, JING Customer Service Representative Mandarin Speaking Basic Qualification: Familiarity with how community marts are being supplied daily, can understand and speak Bahasa Salary Range: Php 30,000 - Php 59,999

19.

Brief Job Description: Resolve seller queries and provide efficient service to amazon sellers and merchants

Brief Job Description: End to end responsibility and accountability for Infra/IT projects/activities for region/cluster

Basic Qualification: Fluency in both English and Thai

20.

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

Brief Job Description: Designing and maintaining data systems and databases; Fixing coding errors and other data related problems. KIM, CHAN Korean Junior Data Analyst

Brief Job Description: Designing and maintaining data systems and databases; Fixing coding errors and other data related problems.

Basic Qualification: Bachelor's degree graduate with 15 years or more experience in software development and infrastructure/IT dimension Salary Range: Php 150,000 - Php 499,999

SHIN, HYUK Director & Chief Technology Officer Brief Job Description: Overall management of Regulatory Affairs

Brief Job Description: Customer service representative

Basic Qualification: Korean National or any person proficient in Korean and English language.

SHI, XINYE Chinese Speaking Customer Service Representative 21.

Brief Job Description: *Studying company profile and operations to understand its marketing needs. * Implementing a marketing strategy according to objectives and budget.

22.

11.

Basic Qualification: Korean National or any person proficient in Korean and English language.

23.

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

Basic Qualification: Appointed in Board Meeting; Knowledge in importing regulations from KR to PH Salary Range: Php 30,000 - Php 59,999

Basic Qualification: High school graduate in Chinese Curriculum, can speak and write fluent Chinese Mandarin, can operate computer Mandarin Characters

25.

26.

Brief Job Description: Organize promotions and events for company clients.

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

LI, WEI Mandarin Team Leader

Basic Qualification: Can speak Mandarin

Brief Job Description: Maintain and drive program knowledge for self and team

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

LIN, JIAWEI Customer Service Representative - Chinese Speaking 13.

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs LIU, LUWANG Customer Service Representative - Chinese Speaking

14.

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs SU, YIMEI Customer Service Representative - Chinese Speaking

15.

Brief Job Description: Collecting Customer Information And Analyzing Customers Needs

Basic Qualification: Proven Working Experience in digital marketing particularly within the industry and good communications skills

16.

Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills Salary Range: Php 30,000 - Php 59,999

28.

29.

17.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

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

30.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company XIANG, CHANGJIAN Strategic And Facilitation Officer

31.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company XIE, WEI Strategic And Facilitation Officer

32.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company. YANG, KEKE Strategic And Facilitation Officer

33.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company ZHANG, FENG Strategic And Facilitation Officer

34.

Basic Qualification: Proven working eperience in digital marketing particularly within the industry and Good Communication Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company.

WANG, JIAQI Strategic And Facilitation Officer

Basic Qualification: Proven working experience in digital marketing particularly within the industry and good communication skills

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company. ZHU, KAI Strategic And Facilitation Officer

35.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company.

41.

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

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs Salary Range: Php 30,000 - Php 59,999

SHAW, JEFF Client Service Manager

36.

Brief Job Description: Client Service Delivery roles are responsible for relationship management and various customer service and operational tasks, while acting as a bank advocate to the client. These roles serve as the primary points of operations service for dedicated client portfolios. Own and drive efficiency programs, transformation, system/process improvements, focused on elimination of manual touch points and bespoke processes Work seamlessly in a matrix operating model effectively managing senior stakeholders and partners across Operations, Technology, Product and Client Services

JSLINKINTERNATIONALCORPORATION 803-804Ri-ranceBuildingAseanaEnclaveAseanaCityTamboParañaqueCity

GAN, LIQING Consultant Brief Job Description: Researches any organization dysfunction and provide solutions for improvement

QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak Mandarin Chinese and English Salary Range: Php 90,000 - Php 149,999

JUNG, SAETBYEOL Data Analyst Brief Job Description: Restore client data from various external sources in the file system

KIM, BUMSUN Data Analyst Brief Job Description: Integrate Data from various back-end services and database

YU, JINHA Data Analyst Brief Job Description: Restore client data from various external sources in the file system

LEE, JAE HYUN I.T Specialist Brief Job Description: Design IT Systems and networks

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

MAGKINGSERVICESCORPORATION Unit5dRoseIndustriesBldg.#11,PioneerStreetKapitolyoPasigCity Basic Qualification: Must be fluent in Chinese language. Salary Range: Php 30,000 - Php 59,999

KIM, MINKI IT Support Specialist 42.

Basic Qualification: Must be fluent in Chinese language. Salary Range: Php 30,000 - Php 59,999

43.

Brief Job Description: Marketing specialists help develop, execute and monitor marketing programs across a variety of Channels

Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must be fluent in Chinese language.

44.

45.

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

Basic Qualification: Must be fluent in Chinese language

46.

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

Basic Qualification: Must be fluent in Chinese language

47.

Salary Range: Php 30,000 - Php 59,999 48. Basic Qualification: Must be fluent in Chinese language. Salary Range: Php 30,000 - Php 59,999 49. Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must be fluent in Chinese language

AGUS RIYANTO Bahasa Speaking Customer Service Representative Brief Job Description: Maintains Indonesian customer records by updating account information

JULIANTO Bahasa Speaking Customer Service Representative Brief Job Description: Maintains Indonesian customer records by updating account information FENG, XIANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls LI, KANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls MA, WEI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls ZHENG, SHIWEN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

WILSON, JONATHAN HENRY Chairman Of The Board, President, And Chief Executive Officer, Managing Director, Merck, Inc. And Biopharma General Manager Philippines 50.

Brief Job Description: To develop Biopharma country strategy aligned with Biopharma global and regional strategy; develop local customer/market access strategies; ensure recruitment of key people; manage relationships with key people

LYU, YAO Chef Assistant (Henan Cuisine)

Basic Qualification: Must be fluent in Chinese language 51.

Basic Qualification: Must be fluent in Chinese language.

Brief Job Description: Ensuring that food served are of excellent quality and authentic taste are consistently achieved, modifying menus or create new ones that meet quality standards, estimating food requirements and food/labor costs, supervise kitchen staff’s activities, performing other duties assigned by the company.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: proficient in speaking, reading and writing in Bahasa Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor's degree, graduate school degree is an advantage; at least three (3) years related experience and/or training; or equivalent combination of education and experience Salary Range: Php 500,000 and above

Basic Qualification: Ability to assist and direct kitchen staff in meal preparation, creation, plating and delivery and ensure that kitchen activities operate in a timely manner. Ability to work with minimal to no supervision. Train new kitchen employees to meet restaurant and kitchen standards. Manage the kitchen team in the executive chef's absence. High level of attention to detail. With Experience in Chinese Restaurants. Fluent in the Chinese Language, both oral and written. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language.

LIU, BAOCHANG Chef Assistant (Longjiang Cuisine)

Salary Range: Php 30,000 - Php 59,999 52.

Basic Qualification: Overall 15 - 18 years of experience in similar environment, with a higher vintage and strong team management experience in similar environment Experience and a strong working knowledge of various aspects of Treasury market & products, understanding of US Regulations & OFAC Compliance Working/Expert Knowledge of SWIFT & international payment conventions and practices is an added benefit Salary Range: Php 500,000 and above

Basic Qualification: proficient in speaking, reading and writing in Bahasa

NATURAL9CORPORATION Unit8c-1,8RockwellBuildingHidalgoDriveRockwellCenter,PoblacionMakatiCity

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

MERCK,INC. 36thFloorTheFinanceCenter26thSt.Cor.9thAve.,BonifacioGlobalCityFortBonifacioTaguigCity

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language.

Basic Qualification: Must be Bachelor's/College degree in any fields, at least 2 yrs of working experience in the related positions, ability to maintain high level of confidentiality

MEGA-WEBTECHNOLOGIESINC. 6,7,8,9,10,11/fMetLiveBldg.EdsaCor.MacapagalBlvd.Brgy.076PasayCity

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

Basic Qualification: Must be fluent in Chinese language.

Basic Qualification: Must be Bachelor's/College degree in any fields, at least 2 yrs of working experience in the related positions, ability to maintain high level of confidentiality

Brief Job Description: IT Support Specialist provide organizations with information technology support to optimize operational efficiency Salary Range: Php 30,000 - Php 59,999 KANG, SEOHYUN Marketing Specialist

JPMORGANCHASEBANK,N.A.-PHILIPPINEGLOBALSERVICECENTER 23/fNetPlaza31stSt.E-squareZoneFortBonifacioTaguigCity

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking Salary Range: Php 30,000 - Php 59,999

LIU, TINGJIN Customer Service Representative Mandarin Speaking

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company LIANG, YANG Strategic And Facilitation Officer

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

GLOBALLGABUSINESSPROCESSOUTSOURCING GroundLevel,Level2-5FloorSilverCity4,OrtigasEastUgongPasigCity

CHENG, SHIGAO Customer Service Representative Mandarin Speaking

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company.

LIAO, LEI Strategic And Facilitation Officer Basic Qualification: Can speak Mandarin

Brief Job Description: Collecting Customer Information And Analyzing Customers Needs

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company.

HE, YULONG Strategic And Facilitation Officer

GENXSPORTS&MEDIAPRODUCTIONCORP. 26thAnd27thFlr.EastwoodCyberOneBldg.EastwoodCityCyberparkNo.188E.RodriguezJr.Ave.Bagumbayan3QuezonCity

12.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

HAN, ZHILIN Strategic And Facilitation Officer

27.

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

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company.

E, GANGLEI Strategic And Facilitation Officer

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

Basic Qualification: *Preferably 6 months experience with the above position. *Can multi-task and keen to details. *Any nationality who can speak and write Chinese fluently.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company.

DEWI Strategic And Facilitation Officer 24.

QI, JIN Mandarin Marketing Specialist

CHEN, JUNMING Customer Service Representative - Chinese Speaking

Brief Job Description: Assist/Help customers, give customers information about the product and services

DENG, KUN Strategic And Facilitation Officer

FLYINGFUTURESERVICESINC. 3/fSalcedoOneCenter170SalcedoSt.SanLorenzoMakatiCity

10.

38.

Basic Qualification: Fluent in the Bahasa Indonesian language (spoken and written)

Basic Qualification: Proficiency in handling customers questions about services or products/ excellent Mandarin communication skills

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

KINDOSARPROCESSSOLUTIONSINC. Unit5d,RoseIndustriesBldg.PioneerSt.KapitolyoPasigCity

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

JDBMANAGEMENTANDCONSULTANCYCORP. 107T&DHouseMagallanesSt.069,Bgy.655IntramurosManila

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

FLYASIANINTERNATIONALCORPORATION EightyOneNewportBlvd.NewportCityVa,Brgy.183PasayCity TING, SHENG-YU a.k.a. TING CHU-HAO Marketing Consultant (mandarin Speaking Clients)

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

40.

FAREASTOUTSOURCEPROCESSINGINC. 7th,8th,9thFlr.NuTowerMoaCoralWayBrgy.076PasayCity

ZHA, LIUYAN Customer Service Representative

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

37.

Brief Job Description: Contributes to the decision making of the top management that is aligned with the Salary Range: company's mission and vision Php 30,000 - Php 59,999

CHEN, XINXIAO Strategic And Facilitation Officer

COSTARMED,INC. Unit2311a23/fCenturiaMedicalMakatiKalayaanAve.Cor.SalamancaSt.PoblacionMakatiCity

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

No.

IRISBLOOMINC. Unit25d2/fZetaIiBldg.19SalcedoSt.SanLorenzoMakatiCity

BITVENTURESINC. Unit204ISquareBldg.MeralcoAve.,OrtigasCenterSanAntonioPasigCity KI, YONGJUN Korean Junior Data Analyst

QUALIFICATION AND SALARY RANGE

39. HENDRI WIJAYA Operations Manager (Indonesian Account)

AMDOCSPHILIPPINESINC. 23rd,25th,And26thFloorsEcoTower32ndSt.Cor.9thAve.BonifacioGlobalCityFortBonifacioTaguigCity GUPTA, PUNIT Technologies Line Manager

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

ESTABLISHMENT / ADDRESS

HYPERTIPSERVICESCO.LIMITED Level10-1,FortLegendTower31stSt.&3rdAve.,BonifacioGlobalCityFortBonifacioTaguigCity

AMAZONOPERATIONSERVICESPHILIPPINES,INC. B21ThreeE-comMoaComplexHarbourDriveCor.BayShoreBrgy.076PasayCity KAEWKHAM, NICHANUN Seller Support Associate

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

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

ALFAMARTTRADINGPHILIPPINES,INC. SmCorporateOfficeBldg.EJ.w.DioknoBlvd.Brgy.076PasayCity HERRY WIJAYA Logistics Consultant

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

HUANG, CHENWU Chef Assistant (Shandong Cuisine) 53.

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

MENG, DEBAO Chef Assistant (Shandong Cuisine) 54.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Ability to assist and direct kitchen staff in meal preparation, creation, plating and delivery and ensure that kitchen activities operate in a timely manner. Ability to work with minimal to no supervision. Train new kitchen employees to meet restaurant and kitchen standards. Manage the kitchen team in the executive chef's absence. High level of attention to detail. With Experience in Chinese Restaurants. Fluent in the Chinese Language, both oral and written. Salary Range: Php 30,000 - Php 59,999

PAN, XUESHAN Chef Assistant (Shandong Cuisine) 55.

No.

LYU, MENG Chinese Customer Service Representative 74.

LEI, XINBING Head Chef (Fujian Cuisine) 56.

Brief Job Description: Planning and directing food Preparation and culinary activities, modifying menus or create new ones that meet quality standards, estimating food requirements and food/labor costs, supervise kitchen Staff’s activities, performing other duties assigned by the Company

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

75.

CHEN, QUAN Chinese Customer Service 57.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents.

CHEN, JINBO Chinese Customer Service 58.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents.

FENG, ZHIQI Chinese Customer Service 59.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents.

GU, WENYUE Chinese Customer Service 60.

Brief Job Description: Customer support and data base services

HAN, BOLIN Chinese Customer Service 61.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents.

HOU, JIAO Chinese Customer Service 62.

63.

64.

65.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents.

SUN, CONGFA Chinese Customer Service Brief Job Description: Customer support and data base services

WU, MEIHAN Chinese Customer Service Brief Job Description: Customer support and data base services

XI, LIN Chinese Customer Service Brief Job Description: Customer support and data base services

JIANG, ZHONGHENG Chinese Speaking Data Entry Clerk 66.

67.

68.

Brief Job Description: Enters customer and account data and keeping and maintaining information confidential

YANG, SHUWEN Chinese Customer Service Brief Job Description: Customer support and data base services

ZHANG, ZHAOLIANG Chinese Customer Service Brief Job Description: Customer support and data base services

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

Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English)

76.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English)

77.

78.

69.

Brief Job Description: Managing calls and customer services inquiries; identifying and assessing customer's needs.

79.

70.

Brief Job Description: Managing calls and customer services inquiries; identifying and assessing customer's needs.

GAO, MEIHUA Chinese Customer Service Representative 71.

Brief Job Description: Managing calls and customer services inquiries; identifying and assessing customer's needs.

LEE, DOKYUNG Chinese Customer Service Representative 72.

Brief Job Description: Managing calls and customer services inquiries; identifying and assessing customer's needs.

LOW YIN KAR Chinese Customer Service Representative 73.

Brief Job Description: Managing calls and customer services inquiries; identifying and assessing customer's needs.

Brief Job Description: Provides extremely flexible web development services, from full stack solutions to updating existing content,

Brief Job Description: provides extremely flexible web development services, from full stack solutions to updating existing content,

Brief Job Description: provides extremely flexible web development services, from full stack solutions to updating existing content, ZHANG, YING Mandarin Speaking Web System Development Consultant

80.

Brief Job Description: Provides extremely flexible web development services, from full stack solutions to updating existing content,

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

81.

82.

CHOU, LI a.k.a. CHOU, YI-SHIUAN Chinese Speaking Customer Service Representative Brief Job Description: Assist/ help customers, give customers information about product or services

HAO, YIFEI Chinese Speaking Customer Service Representative Brief Job Description: Assist/ help customers, give customers information about product or services

TRANG THI THANH HANG Order Management Team Member 83.

Brief Job Description: Support our customers in Vietnam; He/she ensures timely and accurate capture of orders, and also timely completion of order delivery according to customer requirements while adhering to agreed service level agreements.

84.

GUO, JINHONG Chinese Customer Service Brief Job Description: Customer support and data base services

85.

86.

87.

88.

89.

GUO, XIAOHU Chinese Customer Service Brief Job Description: Customer support and data base services

HUANG, FUFA Chinese Customer Service Brief Job Description: Customer support and data base services

MA, ZHIJIAN Chinese Customer Service Brief Job Description: Customer support and data base services

WANG, ZHONGYAN Chinese Customer Service Brief Job Description: Customer support and data base services

YAN, DAN Chinese Customer Service Brief Job Description: Customer support and data base services

90.

ZHAO, JIANGBO Chinese Customer Service Brief Job Description: Customer support and data base services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

91.

NAY HTUN LIN Myanmari Customer Service Brief Job Description: Customer support and data base services

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

92.

Basic Qualification: Fluently speaking in Mandarin and English.

Basic Qualification: Fluently speaking in Mandarin and English. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluently speaking in Mandarin and English.

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

99.

100.

Basic Qualification: Proficiency in handling customer questions about services or products / excellent Mandarin communication skills

101.

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

Brief Job Description: Customer support and data base services

94.

102.

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

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

103.

96.

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

104.

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre Adb Avenue, Ortigas Center San Antonio Pasig City

Brief Job Description: The Chinese IT Support Specialist is an integral of the company infrastructure, Application Support, and of the IT Division and is responsible for providing quality IT support of enterprise systems throughout the Chinese clientele.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin, Cantonese and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin, Cantonese and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin, Cantonese and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin, Cantonese and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin, Cantonese and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin, Cantonese and Fukien language Salary Range: Php 30,000 - Php 59,999

TOYO CONSTRUCTION CO. LTD. 3/f Planters Products Bldg. 109 Esteban St. San Lorenzo Makati City ASAKA, TAIZO Assistant General Manager 105.

106.

Brief Job Description: Management of Philippine Branch and oversight of infrastructure projects under Japanese ODA in the Philippines

Basic Qualification: Experience in Japanese construction firm for at least 20 years Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Solid experience in FMCG industry's financial accounting and knowledge in Bahasa

DENIS KRISTIAN ROMPIS Financial Controller

Brief Job Description: Manage and oversee all financial operations and development of the company Salary Range: Php 150,000 - Php 499,999

HUANG, RONGRONG Chinese Sales Consultant 107.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

108.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Research industries, markets demographics, trends, sales results, and other data related to the client’s services

WANG, HAOTIAN Chinese Sales Consultant 109.

Brief Job Description: Research industries, markets demographics, trends, sales results, and other data related to the client’s services

STEVEN Human Resource Officer - Multilingual Speaking 110.

Brief Job Description: Recruit, support and develop talent through developing policies and managing procedures

OUYANG, HUI Mandarin Project Manager 111.

Brief Job Description: Provide leadership throughout the project planning, implementation and post-launch support

Basic Qualification: Preferably 6 months -1-year as Sales Consultant; Fluent in Mandarin and English Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Preferably 6 months -1-year as Sales Consultant; Fluent in Mandarin and English Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Knowledge of various file functions such as compensation and benefits, recruitment, on boarding, training and development etc Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Skilled and knowledgeable in various project management methodologies Salary Range: Php 60,000 - Php 89,999

ZTE PHILIPPINES INC. Unit 1201 & 1202 12th Floor Fort Legend Towers 3rd Ave. Corner 31st St. Bgc, Fort Bonifacio Taguig City

112.

Basic Qualification: At least 2 years related working experience

PI, YULU Project Manager Brief Job Description: Work as project manager for ZTE

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: At least 2 years related working experience

CAI, JIE Project Technology Director

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

113.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

ZTT PHILIPPINES CORP. 24 Flr. Bgc Corporate Center 11 Ave. Cor. 30 St. Bonifacio Global City, Fort Bonifacio Taguig City

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

WILDFIRES TECHNOLOGY CORPORATION 24th Floor Bgc Corporate Center 11th Cor. 30th St., Bonifacio Global City Fort B Onifacio Taguig City

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Basic Qualification: Preferably 6 months -1-year as Sales Consultant; Fluent in Mandarin and English Language

WHITERAIN DIGITAL TECHNOLOGIES INC. 20/f Zuellig Bldg. Makati Ave. Cor. Paseo De Roxas Urdaneta Makati City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Brief Job Description: Research industries, markets demographics, trends, sales results, and other data related to the client’s services LU, XIUPING Chinese Sales Consultant

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

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

Brief Job Description: Provide accurate information on it products and services

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Brief Job Description: Point of contact for suppliers for all their finance queries

XU, YINLING Chinese Speaking Site Technician

Basic Qualification: Fluent in Mandarin, Cantonese and Fukien language

UNITED MOTION BUSINESS CONSULTANCY INC. U-2215 22f Cityland 10 Tower 2 154 H.v. Dela Costa Cor. Valero Sts. Bel-air Makati City

Basic Qualification: Proficiency in Spanish language

Brief Job Description: Provide accurate information on it products and services

ZENG, ZHONGHUA Chinese IT Support Specialist

Basic Qualification: Must be fluent (written and verbal) in Thai and Vietnamese Language.

Brief Job Description: Good in leadership, can work other task

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

WEI, HU Technical Marketing Manager 114.

Brief Job Description: To evangelize our products to both technical and non-technical clients by expressing the technical capabilities of the product as values to our target client.

Basic Qualification: Natural Leadership skills and the ability to work with all teams in the company. Salary Range: Php 30,000 - Php 59,999

ZX-PRO TECHNOLOGY CORPORATION 16/f Robinsons Cybergate 3 Pioneer Brgy. Barangka Ilaya Mandaluyong City XU, JINLIAN Chinese Speaking Customer Service Representative 115.

Brief Job Description: Assist / help customers, give customers information about products and services

Basic Qualification: With at least 6 months customer service experience / good in oral communication and written Salary Range: Php 30,000 - Php 59,999

*Date Generated: Sep 6, 2021

TCK LINK INC. Unit A 9/f Bpi Philam Life Bldg. 6811 Ayala Ave. Bel-air Makati City

95.

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

UNITED FAMILY FOOD PHILIPPINES INC. #193 G. Araneta Avenue Santol 4 Quezon City

SONG, XUDONG Mandarin Customer Service Specialist

GE, QUANFENG Chinese Speaking Site Technician

TONG, XING Chinese IT Support Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products / excellent Mandarin communication skills

LIU, XIAODONG Chinese IT Support Specialist

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

LI, XIAOQIANG Chinese IT Support Specialist

Basic Qualification: 18-55 y/o, with atleast 6 months experience, with good oral and written Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers

HU, CHUNJIAO Chinese IT Support Specialist

SPEED QUALITY TECH INC. 3/f Eco Plaza Bldg. 2305 Chino Roces Ave. Extn. Magallanes Makati City

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

Basic Qualification: Fluently speaking in Mandarin and English.

HO NGUYEN THANH TU Vietnamese Customer Service

PHAN THI VAN Vietnamese Customer Service

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

SA RIVENDELL GLOBAL SUPPORT, INC. 2741 P. Zamora St. Brgy. 097 Pasay City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Basic Qualification: 18-55 y/o, with atleast 6 months experience, with good oral and written

Basic Qualification: Expert in French Language

BAI, MEI Chinese IT Support Specialist

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

PHILIPS DOMESTIC APPLIANCES SUPPORT PHILIPPINES, INC. 10/f Sunlife Center 5th Ave. Cor. Rizal Drive Fort Bonifacio Taguig City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Basic Qualification: 18-55 y/o, with at least 6 months experience, with good oral and written

QUALIFICATION AND SALARY RANGE

TIANYU TECHNOLOGY INC. 16/f Socialdesk Tower H.v. Dela Costa St. Bel-air Makati City

PERFECTZEST INC. 16th Floor Tower 6789 6789 Ayala Avenue Bel-air Makati City

93. EUN, SUYEON Chinese Customer Service Representative

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

ZENG, HUI Mandarin Speaking Web System Development Consultant

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

NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors Century Diamond Center Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City BAIK, SEUNGYEON Chinese Customer Service Representative

Brief Job Description: Works with the operation team for customers concern

YE, YANKUAN Mandarin Speaking Web System Development Consultant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

97.

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

Basic Qualification: Can speak mandarin

XIONG, PEIYU Mandarin Speaking Web System Development Consultant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Basic Qualification: Fluently speaking in Mandarin and English.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION MAHORO, JEAN JOEL French Customer Experience Analyst

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

ZHANG, LI Mandarin Marketing Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English)

Basic Qualification: Proficient in speaking reading and writing in mandarin

No.

OKKDA ASIA TECHNOLOGY INC. Unit 5b 5/f Marvin Plaza 2153 C. Roces Ave. Pio Del Pilar Makati City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

QUALIFICATION AND SALARY RANGE

98.

Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English) Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing calls and customer services inquiries; identifying and assessing customer's needs

ESTABLISHMENT / ADDRESS

OCEANIC SYMPHONY SERVICES INC. 3/f Salcedo One Center 170 Salcedo St. San Lorenzo Makati City

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Parañaque City Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English)

Brief Job Description: Managing calls and customer services inquiries; identifying and assessing customer's needs. XIE, ZIYIN Chinese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to produce excellent high-quality Authentic Chinese Food and developing unique and cuisine-appropriate menus while staying current on trends in the Chinese restaurant industry Collaborating with the Restaurant/ Operations Manager to set item prices, Ability to work unsupervised and deliver quality work, High level of attention to detail With Experience in Chinese Restaurants, Fluent in the Chinese Language, both oral and written, At least 25 years old

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Tuesday, September 7, 2021

Basic Qualification: Proficient in speaking, reading and writing in Chinese

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-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

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

Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A8 Tuesday, September 7, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Bridging the divide over access to jabs

he old saying “a rising tide lifts all boats” promotes the idea that an improved economy will benefit all participants. In the global stage, economic players should focus on broad efforts beneficial to all countries. In the time of the pandemic, this means equitably sharing Covid vaccine doses, which could help economies reopen faster. Sadly, this is not the case. The vaccination rate in the 39 economies defined as “advanced” by the International Monetary Fund is currently at 58 percent, compared with just 31 percent for the rest of the world. The world economy is set to lose trillions in GDP because of delayed vaccination timelines, with developing economies bearing most of the losses due to the uneven rollout, the Economist Intelligence Unit said in a report. The EIU predicted that countries that fail to inoculate 60 percent of their population by mid-2022 will lose about $2.3 trillion between 2022 and 2025. “Emerging countries will shoulder around two-thirds of these losses, further delaying their economic convergence with more developed countries,” wrote Agathe Demarais, the EIU’s global forecasting director. The Delta variant surge in Asia is undermining efforts to rev up factories, and reopen businesses and schools. “The spread of the Delta variant is slowing the reopening process and has caused us to mark down growth globally,” said Robin Brooks, chief economist of the Institute of International Finance in Washington, referring to its revised 5.7 percent forecast for this year, from 6.2 percent. The Associated Press on September 3 reported that the global shortage of computer chips is forcing US automakers to close factories. General Motors announced last week that it would pause production at eight of its 15 North American assembly plants during the next two weeks, including two that make the company’s top-selling Chevrolet Silverado pickup. Ford will stop making pickups at its Kansas City Assembly Plant for the next two weeks. Shifts will be cut at two more truck plants in Dearborn, Michigan, and Louisville, Kentucky. The AP report added: “Industry analysts say the Delta variant of the novel coronavirus has hit employees at chip factories in Southeast Asia hard, forcing some plants to close. That’s worsened a chip shortage that was starting to improve earlier in the summer.” From Bloomberg: “Southeast Asia is suffering one of the world’s worst Covid-19 outbreaks, making up the bottom five spots on Bloomberg’s latest Covid Resilience Ranking. The troubles in Asia across manufacturing and shipping are causing complex and interlinked supply shortages globally. Those disruptions to production can end up dragging on consumer spending and pushing goods prices higher, according to Janet Henry, chief global economist at HSBC Holdings Plc in London.” It’s easy to blame the rampaging Delta variant in Asia for the supply bottlenecks adversely affecting global trade. But major economies have their own governments to condemn for missed economic growth targets. Infections worsened in Asia because of lack of Covid vaccines. And there were not enough jabs to be administered because of hoarding by the rich countries. From Bloomberg: “Wealthy countries face mounting pressure to divert Covid vaccine supplies to lower-income regions, with a new analysis showing they’ll likely have about 1.2 billion extra doses available by the end of the year. “The US, Britain, European nations and others could satisfy their own needs—vaccinating about 80 percent of their populations over the age of 12 and moving ahead with booster programs—and still have large quantities to redistribute globally, according to London-based analytics firm Airfinity Ltd.” Rich countries should ship their extra 1.2 billion Covid doses to those in need in Asia. This will have a huge impact in halting the pandemic’s resurgence in the region. Experts say Covid-19 vaccines are highly effective at preventing severe disease and death, including against the Delta variant. No debate here: The Covid vaccine is the best solution that allows people around the world, in rich and poor countries alike, to secure their collective prosperity. Rich countries also stand to benefit economically if they help bridge the divide over access to jabs.

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uthorities are finally espousing a shift to “granular” or isolated lockdowns from region- or province-wide quarantines. The switch from a more crippling enhanced community quarantine is the more logical approach—the virus spread can be better contained in hotspot areas where there are clustering of cases than virtually shutting down an entire region or city. Perhaps, a neighborhood lockdown is the more appropriate term for this strategic approach. Zeroing in on neighborhoods, alleys or streets with Covid-19 spikes will help the government in its testing, contact tracing and treatment job better. Locking down households or a small part of the community will prevent the infection from spreading beyond its border and spare the rest of the community, city, town or region for that matter. I am glad to learn that the Department of the Interior and Local Government is now inclined toward granular lockdowns that are limited to subdivisions, streets or a few houses, instead of region- or provincewide quarantines. I am hoping that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases will formally approve the recommendation of a sub-technical working group led by the Department of Health. Several government agencies have reached a consensus that neigh-

John Mangun

OUTSIDE THE BOX

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borhood lockdowns may be the better option in dealing with the virus spread than a wide ECQ, which failed to contain Covid-19 spikes. Palace spokesman Harry Roque was quoted last week as saying the shift was “approved as a principle” and that the government had been moving in this direction. Metropolitan Manila Development Authority Chairman Benjamin Abalos Jr. is also now favoring granular lockdowns in Metro Manila. As we have seen in the past few weeks, the ECQ and its modified version closed down many business establishments after restricting the mobility of the people. It stopped workers from doing their job and wreaked havoc on the Philippine economy. But it failed to arrest the virus spread because Covid-19 hotspots or clusters were not given enough attention. Such neighborhood lockdowns are not new. Some 3,040 households have already been placed under granular lockdowns, per the report of Mr. Abalos last week. I have heard

How strange is it?

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

Limited or ‘granular’ lockdowns are better

ilipinos had a flair for the dramatic long before there was even a Philippines. Ferdinand Magellan’s singular achievement in the world of explorers was getting himself killed by the people he was attempting to “explore.” Other Spanish explorers like Cortés, Columbus, de León, and de Soto died of disgusting tropical diseases or old age. Pizarro was assassinated by the son of a man he’d sentenced to death. British Captain James Cook who “discovered” most of the Pacific Ocean region was killed by native Hawaiians. Despite this, the great regard the Hawaiians had for Cook led them to give him the highest funeral honors, which were typically reserved for chiefs and elders. We sit in our little corner of the

Western Pacific Ocean with this almost constant “Onli in da Pilipins” attitude, which could not be farther from the truth. How strange is the world right now? While there are those that think every member of the current Duterte administration should quit, Japan’s

Several government agencies have reached a consensus that neighborhood lockdowns may be the better option in dealing with the virus spread than a wide ECQ, which failed to contain Covid-19 spikes. Palace spokesman Harry Roque was quoted last week as saying the shift was “approved as a principle” and that the government had been moving in this direction.

personal stories of neighborhood and household lockdowns in Sison and Pozorrubio in Pangasinan province, Sta. Maria in Bulacan and some towns in Cagayan, where virus cases have sharply increased. Doing away with the debilitating ECQ will reopen our economy and restore the jobs of those who were displaced by the rigid quarantine measure. Job generation in a vibrant economy is still the best solution to hunger, which, unfortunately, is being spawned by business closures under the ECQ. The vaccine, of course, is our way out of this pandemic. We are making little progress in the vaccine rollout due to constraints in supply. But I am confident the government will eventually procure enough jabs for us to reach herd immunity toward the end of 2021 or early next year. The Department of Finance reported to President Rodrigo Duterte that 195 million doses of Covid-19 vaccines were expected to arrive by the end of 2021, or more than enough to cover the entire population. This

On this side of the world, “China bans ‘sissy’ and ‘effeminate’ men from TV to encourage more masculinity in young men.” And “Billionaire actress Zhao Wei has been ‘erased’ in China and she’s just one of a long line of stars who’ve been banished.” You are free to argue for or against the effectiveness and necessity of being vaccinated. My family is fully vaccinated although initially I was hesitant. Prime Minister Yoshihide Suga just did resign with his approval ratings at an all-time low over his government’s handling of the response to the pandemic. Muhyiddin Yassin just became Malaysia’s shortest-serving Prime Minister in history when he resigned two weeks ago over public criticism against his administration’s han-

is reassuring and gives us reason to be optimistic. The Philippines so far has administered around 33.7 million doses of Covid-19 vaccines nationwide. Around 13.8 million have been fully vaccinated out of our total population of 110 million, while close to 14 million have received the first dose as of August 29. The Department of Health has assured our lawmakers that reaching the herd immunity target of 77 million Filipinos, or about 70 percent of the population, by the first quarter of 2022 at the latest is possible, assuming 500,000 Covid-19 vaccine doses are being administered daily from the current average rate of 426,653 doses per day since August 1. We are still seeing a spike in Covid-19 cases but I believe the numbers will eventually go down as soon as we vaccinate more people and enforce strict neighborhood lockdowns. I am becoming more optimistic because of what appears to be a declining trend in our Southeast Asian neighbors. Indonesia has reduced its daily Covid-19 cases to below 10,000 from a high of over 50,000 in July, while those of Thailand have plateaued to just over 14,000 in the last four days last Friday from above 20,000 a week ago. I am sure the daily cases in the Philippines will follow the same downward trend. If we can strictly enforce granular lockdowns, all things will eventually fall into place.

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dling of the pandemic. In Thailand: “With more than 12,000 dead, few vaccinated and the economy in shambles, demonstrations against the authorities have become a daily event and are beginning to turn deadly.” Canada’s Justin Trudeau could be on the way out after he was a “sure winner” in the coming snap election he called for last month. His party says Covid has nothing to do with the disastrous drop in Trudeau’s polling. Sorry, in 2021 everything has something to do with Covid. And just a coincidence, no doubt, Canada’s cases and deaths have been rising since July 8th. At a time when global food supplies are getting tighter, Joe Biden wants to pay farmers to not grow anything. Why? “President Joe Biden wants to combat climate change by paying more farmers not to farm. The Biden administration aims to enroll 4 million acres in 2021.” Four million acres (total US farm acreage is 900 million) is nothing. It is just See “Mangun,” A9

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Opinion

Death and Taxes

Is corruption endemic among Filipinos?

BusinessMirror

Atty. Mabel L. Buted

Manny F. Dooc

Tax Law for Business

TELLTALES

ax is as certain as death. Tax is a natural consequence of death for individuals leaving significant amount of assets to their loved ones. Some people are able to plan ahead to manage their asset base in the event of death. Tax may not be the primary driver but it is always a key factor to consider. The significance of estate tax planning has been minimized with the implementation of various tax reforms where tax rates had been made uniform regardless of the mode of disposition of the properties. But other than the tax rates, there are many other factors that could differentiate the tax impact of a specific mode of disposition over other modes of transfer of properties. Before you even consider those other modes of transfer, let me discuss the taxes associated with death. Estate tax. The usual tax associated with death is the estate tax. It is the tax on the fortune left by a deceased before this is distributed to the heirs which is levied, assessed, collected and paid upon the transfer of the net estate. The present tax rate is 6 percent, which is imposed on the value of the net estate. Donor’s tax. This tax that is imposed on a gratuitous transfer of property. It is levied, assessed, collected and paid upon the transfer by any person of a property by gift or donation. Previously, the tax was imposed at the graduated rate of zero percent to 15 percent and a higher rate of 30 percent if the beneficiary is a stranger. The Tax Reform for Acceleration and Inclusion eliminated the graduated rate and the difference between the tax rate for strangers and nonstrangers and replaced these with a uniform rate of 6 percent. How does donation come into play on the transfer of properties left by a deceased loved one? Is donor’s tax imposed when properties are simply being distributed to the heirs? The transfer of properties from the estate of the deceased to any heir is not a donation. Hence, the donor’s tax does not apply but the manner of distribution among the beneficiaries may result in donation and attract donor’s tax. This happens when a beneficiary waives his share in the hereditary estate. The waiver of inheritance may amount to a donation of the property, subject to the donor’s tax. However, not all waivers will yield the same result. When is a waiver of inheritance not considered a donation? According to the Revenue Regulations (RR) 12-2018, the general renunciation by an heir, including the surviving spouse, of his share in the hereditary estate left by the deceased is not subject to donor’s tax. This is echoed by the recently issued Revenue Memorandum Circular (RMC) 94-2021. A number of rulings issued by the tax authorities justified the non-imposition of donor’s tax by referring to the right of accretion under the rules on succession as provided in the Civil Code. In the right of accretion, the heir who renounces or cannot receive his share is added or incorporated to that of his co-heirs, co-devisees or co-legatees. His share accrues to his co-heirs in the same proportion that they inherit. Consequently, the heir can never be considered to have owned his share in the inheritance that he renounced. He could not donate a property that he never owned. This is the reason why there is no donor’s tax that can be imposed upon waiver of an heir’s share in the hereditary estate. When does a waiver of inheritance considered a donation? There are at least two instances: 1. RR 12-2018 implies that a

A number of rulings issued by the tax authorities justified the non-imposition of donor’s tax by referring to the right of accretion under the rules on succession as provided in the Civil Code. In the right of accretion, the heir who renounces or cannot receive his share is added or incorporated to that of his co-heirs, co-devisees or co-legatees. renunciation of share in hereditary estate shall be treated as donation when an heir declines the inheritance and offers it in favor of one or more of his co-heirs. 2. The other instance is that provided in the recently issued RMC 94-2021. While the regulation recognizes that a general renunciation is not subject to donor’s tax, a donor’s tax will be imposed on the partial renunciation of inheritance as a result of the waiver. This happens when an heir waives his share to only identified properties but not to the entire properties of the deceased, resulting to the heirs receiving lower or higher value than their rightful share. I register my reservation on this. Co-ownership is discouraged and all the heirs cannot be expected to co-own each of the properties left by the deceased. To avoid this scenario, the heirs usually resort to identifying and allocating the properties that each one of them will receive. In fact, the laws do not require each of the properties of the estate to be distributed to all of the heirs. They are allowed to agree on the properties to be assigned to each. While this may result in unequal sharing, as it is impossible to expect the properties to be of equal value, there is no taxable repudiation. The fact that the heirs would be receiving lower or higher values than their supposed proportionate share in the estate is a necessary consequence of the nature of the properties of the estate. However, the heir who is receiving properties of lower value cannot be said to be making a taxable repudiation. To say so would discourage the preservation of properties and encourage their disposition only for the purpose of having equal sharing for all the heirs. Besides, the reason for the non-imposition of donor’s tax in a general renunciation still applies. An heir who receives a property of lower value than his rightful share is not considered to have received his share in full. Not being the owner of the difference between his share and the value of the property actually received—that difference in value could not be donated and therefore could not be subject to donor’s tax. Having said that, this is already part of the rules. The tax impact should be taken into consideration when making distributions of the estate properties. The author is a senior associate of DuBaladad and Associates Law Offices (BDB Law), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may email the author at mabel.buted@bdblaw.com. ph or call 8403-2001 local 312.

T is given that corruption is rampant in our country. Some even say that it’s the most prevalent cottage industry in the Philippines, which exists from the grassroots to the highest levels of government and even up to the boardrooms of private companies. This is true in the government, as well as in business, although it’s less in the private sector because of the deterring effect of competition. On the other hand, the government has a monopoly in conducting its affairs and will keep the business regardless of its misconduct or impropriety in dealing with its various stakeholders.

The public has become more intolerant of irregularities in the private sector and has withdrawn its patronage of businesses that have offended moral sensibilities. Every now and then, we have witnessed consumer advocates who have rallied the buying public not to buy the products of errant companies that have breached the public’s trust. The discerning consumers decry corruption and renounce immoral behavior foisted upon them by business corporations. At present, business ethics is not anathema to good business. Present corporate governance principles reward private businesses that embrace ethical business practices. Corruption has been around in the government from time immemorial. And it will continue in the future with greater frequency and intensity. Corrupt officials are becoming more daring and callous. They have become oblivious and impervious to public contempt and ridicule. The amount involved has become fabulous and has reached billions of pesos. Our history has recorded that when the 10 Bornean chieftains (datus) landed in Panay in the 13th century to found a new settlement, the visitors led by Datu Puti and Datu Sumakwel gifted Sultan Marikudo a golden “salakot” and his wife, Queen Maniwantiwan, a long

golden necklace. Marikudo and his men retreated to the hinterlands and left his coastal kingdom to the foreigners. Spanish conquest succeeded with the European invaders bringing precious gifts to the native rulers. The colonizers co-opted local leaders by giving them royal privileges from the Spanish crown and exempting them from tributes and forced labor. Then they employed their policy of “Gospel, Gold and Glory.” It’s reminiscent of our current politicians’ practice of using “Guns, Goons and Gold’’ to coerce electorates to vote for them. Knowingly or unknowingly, this spews corruption. Many votes go to the highest bidder. He who gets elected through vote-buying and other pernicious means will conduct himself shamelessly in office and betray the trust of honest voters that he inveigled in the first place. The natives capitulated and succumbed to the promise of “Gospel, Gold and Glory” with few exceptions like Lapulapu, the brave chieftain of the island of Mactan. Even then, not all could be dazzled by the cross, gold and pelf but one could count them on the fingers of his hand if he had not traded his arm and leg to a pocketful of pesos. The marginal existence of the majority of Filipinos breeds corruption. Scarcity is the mother of venalities in government, both for the

Tuesday, September 7, 2021 A9

Collectively, we should demonstrate that we are still capable of moral indignation. Not even a whiff of corruption should be allowed, unless our concerned officials, Covid or no Covid, have lost their sense of smell. Maybe we should impose a smelling test among our candidates for public office to check if they can sniff the reeking smell of corruption that now stinks to high heavens.

officials and the public. As former President Noynoy Aquino’s campaign slogan proclaimed: “Walang corrupt kung walang mahirap.” Voters sell their votes in exchange for food on their table. Poverty and social inequality prompt a politics of patronage. Election is not the exercise of sovereign will but the time when the poor and the oppressed can fleece monies from their so-called public servants. Both parties don’t find this arrangement unconscionable and immoral. Thus, dishonest candidates get installed in public office. Once elected, depraved officials serve the interests of the powerful business groups, which nurtured and supported them to win or keep their office. An unholy synergy is formed which keeps the unprincipled officials in power while the influential businessmen get juicy contracts, franchises and privileges that allow them to dip their fingers in the public tills. Tragic but this is the kind of gutter politics that we now live in. The search for financial security has become a priority and unprincipled officials in government take advantage of their position to enrich themselves. The public and businesses that deal with them know that bribery is the only language that these officials understand. Grease money or facilitation fee is the unwritten requirement to deal with trade restrictions, government subsidies, tariff issues, grant of franchises, price control, tax reliefs, grant of ex-

Our kids will ask us about this Lyca Balita

Onwards

was born in 1998, so I have no firsthand experience of the Marcos regime. Everything I know about that time is based on stories from people who lived through that period and are still alive, or from those who retell their stories. The strange thing about the situation is there appears to be two drastically different sides to the “debate,” despite the truth that there are indisputable facts that render one side the clear winner.

Nonetheless, this made me wonder: will the same thing happen with this pandemic? The pandemic is a huge historical event, no doubt, and we are personally living through it. One day, all this will end up in the HEKASI lessons, which our kids and grandkids (and so forth) will read about. One day, we’ll be asked about what the pandemic was like, and if the stories were real. What will the books say about these times? What will the teachers talk about especially when it comes to education, health care, and the local government response? Will there still be a debate on whether or not there were truly adverse ef-

Mangun. . .

Continued from A8

the idea of priorities. And even climate change activists say it is a useless program. “The Gloucester County [Virginia, USA] School Board has agreed to pay $1.3 million in legal fees after barring transgender student Gavin Grimm, now 22, from using the boys’ restroom while he was in high school.”

Our kids and grandkids will ask us about this pandemic one day, maybe for class or out of pure curiosity. They will look at us with expectant eyes, and we will answer. So when we do talk about this pandemic, let’s make sure we remember and we get the stories right and honest.

fects on individuals and this whole country? Will we have “pro” and “anti” pandemic debates one day, to the disrespect of our frontliners and to those who have lost their lives to this pandemic? As of this writing, over 34,000 real people have died in the Philippines alone because of Covid-19. With the tens of thousands spike in new cases recently, the number of deaths will unfortunately inevitably grow. It’s misleading to say that “only a small percentage have died anyway.” Over 34,000 deaths is already too much. Even one preventable death should already enrage us. These peo-

ple are not just statistics on posters we share on Facebook—these are real people with dreams and families, and they should have been still alive had there been competent and efficient response, especially at the earliest stages of the pandemic. And it isn’t just the deaths: this pandemic has taken away education, milestones, employment, small businesses, and health, just to name a few. We’ve been wasting away for over a year! This has brought no real good to anyone except for those very few profiting from all of this, and we can’t even do anything to address that injustice. All these deaths and suffering cannot justify any advancements in technology or medicine, or the fact that it made us spend time with our families. There is nothing to romanticize here. The facts are incontrovertible: this is not a point in history that should be celebrated.

ing new meaning to “authoritarian government.” President Biden has called for a “No-Jab-No-Job” policy for those working in elderly care facilities, as well as for federal government employees. On the other hand, “Vaccination is the main weapon against the spread of the virus. Importantly, no one should be forced to get a jab. Pressure, where people may lose their jobs, is even less acceptable. People must be convinced of the need to

emptions and other sensitive transactions with the government. These increase the cost of doing business in our country. Our low ranking in the corruption index compiled by Transparency International is a disincentive to foreign investments. It slows down economic growth. It reduces government revenues. It wastes taxes and drains our treasury with much valuable funds needed to fight the pandemic. Corruption renders government operations inefficient. One thing noticeable is that dishonest officials and their underlings become more corrupt as the end of their term nears. They try to make the most of their opportunities so that if they lose in their reelection bid or their appointive office, they have taken enough loot to take care of their future outside the government. As a former Senate President once declared: “What are we in power for?” Corruption is a cancer in our society. It has pervaded all levels of our government. Extreme poverty, joblessness, low salary of government officials, financial insecurity, lack of education, among others, are the factors that contribute to corruption. It is abetted by lack of transparency in dealing with the government, lack of independence of prosecutors, unwillingness of the victims to report abuses, and inefficient judicial system. We know the causes and their solutions but we have no moral backbone to oppose it. As a people, we should abhor corruption. We should not tolerate it to happen in our presence and if it does, we should not condone it. Victims and the media should expose it to high heavens and the government should prosecute the guilty. Collectively, we should demonstrate that we are still capable of moral indignation. Not even a whiff of corruption should be allowed, unless our concerned officials, Covid or no Covid, have lost their sense of smell. Maybe we should impose a smelling test among our candidates for public office to check if they can sniff the reeking smell of corruption that now stinks to high heavens.

We know that history is written according to the stories of those who survive. Thus, we owe it to those who have lost their lives and to our frontliners who have been risking their lives every day, to tell the true stories of this point in history. We have to tell the real story without bias, selfishness, or romanticization. Just because we somehow benefited (thanks to privilege) doesn’t mean so many others didn’t lose so much. This pandemic was not handled well; in the Philippines, it was riddled with corruption, inefficiencies, and scandals. There were antivaxxers. Borders remained open. Everyone suffered and many died. We couldn’t even visit our sick or hold proper funerals. The health workers were overworked and underpaid, yet pushed on. All our frontliners, regardless of fields, were heroes. These are the true stories. They deserve to have their stories shared. Our kids and grandkids will ask us about this pandemic one day, maybe for class or out of pure curiosity. They will look at us with expectant eyes, and we will answer. So when we do talk about this pandemic, let’s make sure we remember and we get the stories right and honest. For feedback, send an e-mail to lyca.balita@ gmail.com

get the vaccine.” That is the official policy of the “All-Powerful Dictator and Tyrant” Vladimir Putin. “New Research Suggests Humans Could Live up to 150 Years.” No survey has been done asking the question, “Does anyone want to live to be 150 years old?” E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

A10 Tuesday, September 7, 2021

DEMAND PLUNGE, POGO EXIT HALT BOOM DAYS OF RABBIT MEAT SECTOR By Jasper Emmanuel Y. Arcalas

@jearcalas

ABBIT meat producers are reeling from the plunge in domestic demand for the animal protein due to Covid-19related mobility restrictions like community lockdowns worsened by the exodus of offshore gaming operators. Association of Rabbit Meat Producers Inc. (ARaMP) President Art Veneracion said their industry was not spared from the economic implications of the Covid-19 pandemic, which include the loss of market demand. Veneracion pointed out that the pandemic stalled the economic boom that the rabbit meat industry was experiencing in recent years. “I think all businesses have been affected by the pandemic. There is no exemption. As for us, rabbit meat demand plunged after restaurants and dine-ins were restricted,” he told the BusinessMirror in a recent interview. “Rabbit meat producers need to innovate to be able to cope,” he added. Veneracion explained that the rabbit meat industry benefited from the influx of Philippine Offshore Gaming Operators (POGOs) since employees of these companies are rabbit meat lovers. “We benefited from the boom of POGOs, especially with the rise of restaurants directly catering to POGOs. You can see traders and buyers travelling back and forth to Bulacan for rabbit meat,” he said. Prior to the pandemic, Veneracion said 70 percent of their demand come from restaurants, 50 percent of which cater to PO-

GOs, while the remaining 30 percent are community buyers and individuals. And even during the first months of the country’s nationwide lockdown, Veneracion said the industry enjoyed a sudden increase in investments since people were looking for new possible business ventures. However, it was short-lived. “The demand today has been changed and in fact it was reversed. Bulk of the demand now is from individuals instead of restaurants. However, the volume, in general, is not the same as before the pandemic,” he said. “Before we could easily sell 100 heads of frozen rabbits but right now we can only sell half,” he added. Veneracion shared interest for rabbit meat farming boomed in the past two years due to lucrative profits. At the same, Veneracion added that Filipino consumers’ have developed acceptance and awareness of rabbit meat as a protein source. Today, there are various rabbit meat products available in the market—frozen rabbit meat, rabbit tapa, rabbit tocino, rabbitchon (rabbit lechon) and smoked rabbit, Veneracion said. The BusinessMirror earlier reported that the government has issued new import rules to facilitate the entry of “superior” rabbit breeds to boost domestic rabbit meat production, an animal protein alternative eyed by the government due to minimal costs and easier propagation. (Related story: https://businessmirror.com.ph/2021/08/26/dareleases-import-r ules-onsuperior-rabbit-breeds-formeat-production/)

‘Dip in primary deficit may boost ’22 credit outlook’

By Jovee Marie N. dela Cruz

@joveemarie

HE chairman of the House Committee on Ways and Means on Monday said the declining primary deficit for 2021 from 2020 could be “a plus for our credit outlook recovery next year.”

During the hearing on debt management bills, House Committee on Ways and Means Chairman Joey Sarte Salceda said the economic managers are managing the country’s debt carefully. “Our credit ratings will likely be sustained, and credit outlook may improve in 2022 as our country’s primary deficit is improving, albeit still at elevated levels,” Salceda said. “If you are growing faster than you are borrowing, and you use the borrowing to grow, that’s good debt. If you are a country hungry for capital like the Philippines, fear of debt is worse than debt itself,” he added. Primary surplus or deficit is the government’s deficit minus interest payments. It is typically used as a measure of the country’s capacity

to service its debts. With tax collections beginning to recover as well, the lawmaker said there is momentum for fiscal recovery. “I think we will not suffer a credit rating downgrade, given our clear demonstration of political will to keep the debt controlled,” Salceda said. For next year, the debt burden amounts to P541.3 billion, accounting for 10.8 percent of the 2022 National Expenditure Program and is lower by 3.4 percent year-on-year. “Our debts are generally justified. We are heavily investing in infrastructure and in the vaccines, which are in a sense human infrastructure, because without the vaccines we cannot move around under

Covid-19,” Salceda added. “As a rule of thumb, first your interest rate has to be smaller than your GDP growth rate, and we meet that condition. Second, your foreign currency risks have to be minimal, and at around just 30 percent of debt being in foreign currency, our risks are very minimal,” he said. Salceda also noted that the interest rate of national government debt is also declining. “All in all, I think our fiscal managers are managing the situation exceptionally well, considering the circumstances of Covid-19, where all countries had to borrow big,” Salceda said.

infra, social spending

DURING his presentation, Finance Secretary Carlos Dominguez said the debts were designed to fund massive investments for the Filipino people under the Duterte administration. “The sustainability of the debt depends on two things: the cost and the ability to generate economic activity to pay it off,” Dominguez said. Dominguez noted that Average Annual Infrastructure Spending Per Administration nearly doubled to 4.9 percent of GDP under President Duterte, from 2.5 percent in

the previous administration, and even lower rates under past administrations. Average Annual Social Services Spending Per Administration under President Duterte, at 6.9 percent of GDP, was also at its highest since the Ramos Presidency. “If we did not increase the level of public spending through borrowings, the domestic economy could have collapsed,” he said. “We should use our borrowings to beef up our health requirements and to generate productive economic activity. If we don’t do these things, the economy will collapse further,” he added In the same meeting, the panel approved House Bill No. 7963, creating mechanisms for effective Official Development Assistance (ODA) use. Official Development Assistance is an indicator of international debt flow to the country. Salceda said he supported the measure as “the institutionalization of the Paris Declaration on aid effectiveness” in the Philippines. The Paris Declaration of 2005 “gives a series of specific implementation measures and establishes a monitoring system to assess progress and ensure that donors and recipients hold each other accountable for their commitments.”

Go prods invitees, including Yang, to face Blue Ribbon A

DMINISTR ATION Senator Bong Go prodded persons summoned by the Senate Blue Ribbon Committee, including a friend and former adviser of the President, to attend Tuesday’s hearing on Covid-19 fund disbursements. Go advised concerned individuals there was nothing to worry about in facing Senate probers, more so “if they have nothing to hide, they have nothing to fear.” While he did not name former presidential adviser Michael Yang, it was understood he had addressed his advice to the controversial businessman as well. Yang had skipped the past Blue Ribbon hearings called by panel chief Sen. Richard Gordon, to look into a Commission on Audit (COA) report on “deficiencies” in the Department of Health’s handling of over P62 billion in pandemic response funds. Yang has been linked to the Pharmally Pharmaceutical Corp., which bagged over P8 billion in contracts for face masks and face shields despite being newly incorporated with a paid-up capital of only P625,000. The Gordon panel has issued a new summons to Yang and Pharmally officers, who were not found in their indicated addresses in submitted documents to the Securities and Exchange Commission (SEC). The Blue Ribbon has grilled in past two hearings only former budget undersecretary Lloyd Christopher

Lao and Health Secretary Francisco Duque III. Lao used to the head the Procurement Service of the Department of Budget and Management (DBM) to which DOH transferred P47 billion in pandemic-related funds in 2020. “Nananawagan din po ako sa lahat, dapat na lumabas na po sila to shed light, para maklaro po sa publiko. Lalung-lalo na po yung mga kakilala ni Pangulong [I am calling on all those summoned to surface and shed light on this to the public. Especially the friends of President] Duterte,” said Senator Go during a radio interview on Sunday. “President Duterte is not denying that he has known Michael Yang since 1999. But this doesn’t mean that he will allow someone he knew since 1999 to commit shenanigans,” continued Go, speaking mostly in Filipino. The administration lawmaker recalled that “in fact, when Michael Yang went to Davao City, the first warning he got from President Duterte was that, ‘if you engage in drugs dealing, I will bury you here.’ That means President Duterte will not tolerate wrongdoing, even from a friend to whom he owes a favor,” Go added. Malacañang had dismissed allegations of wrongdoing in the procurement of reportedly overpriced medical supplies. COA earlier clarified that its preliminary findings do not indicate missing funds but only an inefficient use of the same. See “G0,” A2

A CYCLIST passes by a mural with a timely theme: the struggle of healthcare workers in the pandemic. The mural was painted by social realists Sim Tolentino, Bryan Barrios and Christian Cresencio or “Moks”— also known collectively as Simbbmoks—on a wall of a torn-down property of the Columban Mission in the Philippines in Malate, Manila. The wall had covered a vacant lot in Barangay 688, chaired by Catherine Gotoc Sy. ROY DOMINGO

DBM denies ₧10-B GEF is pork barrel in ’22 budget By Bernadette D. Nicolas

@BNicolasBM

HE Department of Budget and Management (DBM) denied opposition lawmaker Gabriela Rep. Arlene Brosas’s claim that the P10-billion Growth Equity Fund (GEF) in the proposed P5.024trillion national budget for 2022 is a new form of pork barrel. DBM Officer-In-Charge and Undersecretary Tina Canda said they stand by the legality of the GEF, which she said will be accessed by

disadvantaged local government units (LGUs) to implement devolved functions and services from the national government To mitigate the fiscal impact of the Mandanas ruling, certain functions of the national government will be fully devolved to LGUs not later than the end of 2024. “It is not [a form of pork barrel],” Canda said in a message to BusinessMirror. Brosas called the GEF a “lumpsum allocation that is open to abuse and politicking” if the local govern-

ments will not be identified. But Canda stressed the need for the GEF, adding that the legislature can even include conditions for the release of the fund given Congress’ power of the purse. “She [Brosas] is free to call it whatever she wants. Actually the amount is for the use of the 4th-5th-6th class municipalities for them to be on a par with other LGUs in terms of planning and project implementation. They are the ones which can access this fund,” Canda said. Apart from the municipalities,

economic managers also want to distribute a portion of the funds to some provinces. Last week, the Department of the Interior and Local Government Director Annaliza F. Bonagua said in a forum that the members of the Cabinet-level Development Budget Coordination Committee (DBCC) plan to allocate 70 percent of the P10 billion or P7 billion to 258 poor and disadvantaged municipalities and the remaining 30 percent of the total or P3 billion to 16 provinces under the proposed GEF. See “DBM,” A2

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, September 7, 2021

PAL confident of securing nod for restructuring plan By Lorenz S. Marasigan @lorenzmarasigan

lag carrier Philippine Airlines (PAL) is confident that its restructuring program will be approved by authorities as the chance that it will fail is “very, very small,” its chief said on Monday. During a virtual press briefing, PAL Inc. President Gilbert F. Sta. Maria said the group aims to complete the whole restructuring process within the year, as it has already secured the approval of its creditors, lessors, and lenders to implement the plan. “The chance that this will fail is very, very small. We have a very high degree of confidence that this will be completed,” he said. Sta. Maria said the group started negotiating deals with its creditors, lessors, and lenders “a year ago” and has gotten their approval for the corporate restructuring exercise.

T h is, he sa id, m ade t h ings smoother for the United Statesbased court to process its Chapter 11 Bankruptcy Protection plea. The first hearing for the case is set for September 9. Sta. Maria admitted that the “negotiations were difficult and intense,” but PAL was able to convince them of its “survivability.” The restructuring plan needs the New York court’s approval to be executed. The group is bullish that it will receive the court sanction and will be able to subsequently file locally in recognition under the Fi-

nancial Rehabilitation and Insolvency (FRIA) Act of 2010. PAL’s new wave of restructuring is significantly faster than its experience in 1999, when the receivership program took almost eight years to finish. By going the pre-arranged process route, PAL will be able to “stay in the rehabilitation process in the shortest possible time,” PAL CFO Nilo Thaddeus P. Rodriguez said. The restructuring plan will enable PAL to reduce its debt of over $2 billion from lessors, lenders, and creditors through the infusion of $505 million of new debt and equity from existing shareholders and domestic banks as well as $150 million of additional debt from global private investors for “postrestructuring activities.” Once the restructuring process has been completed, PAL Holdings Inc. of billionaire Lucio C. Tan will remain as the majority shareholder in PAL. PAL is also set to reduce its fleet by 25 percent, leaving it with 70 planes, which, according to Sta. Maria is enough to meet the current demand for air travel. The airline also does not expect to go back to its pre-pandemic levels this

year. In fact, the company projects that this could take at least three years to materialize. “We don’t foresee demand coming back to pre-pandemic levels until 2024 to 2025. At that point in time, we don’t believe we will be at what our size was, which was $3 billion in revenue. We expect to hit that number closer to the back half of the decade,” PAL Chief Strategy Officer Dexter C. Lee said. During its rehab, PAL will continue to operate its passenger and cargo businesses. It is also increasing frequencies of regional and long-haul routes, as well as domestic routes from its hubs in Manila and Cebu. Cargo flights will also remain unhampered, especially those that require the transportation of vaccines, medical supplies, and those that are critical to sustain the supply chain. Sta. Maria said PAL will remain strong despite the headwinds, saying that it will not reinvent its business, as other regional carriers had done to survive the pandemic. “We are a traditional carrier. We’re going to reinforce our business and improve our brand and recover that way,” he said.

NGCP seeks approval for 11 projects By Lenie Lectura @llectura

he National Grid Corp. of the Philippines (NGCP) is seeking regulatory approval for 11 vital transmission projects worth over P34 billion. In a filing with the Energy Regulatory Commission (ERC), the grid operator said these proposed projects are meant to ensure a reliable and high-performance operation of the country’s power transmission system. “Thus, to avoid disruption of operation and to ensure continuous compliance with NGCP’s mandate under the EPIRA [Electric Power Industry Reform Act] as the transmission operator, it is imperative that the implementation of the proposed capex [capital expenditure] projects be immediately approved,”

NGCP said in its 14-page application. In Luzon, NGCP’s capex projects for 2021-2025 are the Luzon Voltage Improvement Project 6 (P1.4 billion), Pinamucan-Tuy 500-kilovolt (kV) Transmission Line Project (P6.24 billion), South Luzon Substation Upgrading Project (P5.8 billion), AmbuklaoBinga 230-kV Transmission Line Upgrading Project (P1 billion), and the Binga-San Manuel 230-kV Transmission Line Project (P4 billion). In Visayas, it proposed to undertake the Permanent Restoration of PanitanNabas 138-kV Line affected by Typhoon Ursula (P316 million) and the Visayas Voltage Improvement Project 2 (P2.27 billion). In Mindanao, the proposed capex projects of NGCP are the Malaybalay 138-kV Substation Project (P2 billion), Tumaga 138-kV Substation Project (2.33 billion), and the Sultan Kudarat-Pinar-

ing 69-kV Transmission Line Upgrading Project (540 million). NGCP also proposed to undertake the P8.9-billion Grid Protection Relay Replacement Project, which involves the replacement of protection relays in the Luzon, Visayas and Mindanao grids, worth P8.93 billion. The NGCP asked the ERC to immediately issue an order provisionally authorizing the implementation of the proposed capex projects and approved these after the necessary hearings are conducted. The grid operator announced last month that it is P440 billion for capital expenditures from 2021 to 2033, as it intends to invest in 211 vital transmission projects across the country. In a preliminary prospectus filed by Synergy Grid and Development Philippines Inc., which owns 60 percent of

NGCP, the grid operator said it is committed to invest in the nationwide transmission network to drive future growth. “For the 13-year period between 2021 and 2033, NGCP has committed to invest approximately P440 billion in capital expenditures across 211 projects. The Group expects that NGCP’s robust project pipeline and the Mindanao-Visayas Interconnection Project [MVIP], which is a landmark project, to continue to expand its regulatory asset base,” it said. The MVIP is expected to be completed within the first quarter of next year. It was certified as an Energy Project of National Significance in 2018 and was initially targeted for completion by December 2020 but was extended to December 2021 due to the Covid-19 pandemic and subsequent quarantine restrictions across the country.

SMC taps Singapore-based expert to protect Manila Bay’s local, migratory bird population By Jonathan L. Mayuga @jonlmayuga

an Miguel Corp. (SMC), the proponent of the P735-billion Bulacan Airport Project, has tapped a Singapore-based bird expert to study and help protect the local and migratory bird populations that visit Manila Bay, including the coastal areas of Bulakan, Bulacan. The company is now drawing up a comprehensive plan to protect local and migratory bird populations that regularly visit Manila Bay as part of the sustainability blueprint for its New Manila International Airport project. Avian researcher Dr. Frank E. Rheindt, Associate Professor and Dean’s Chair at the Department of Biological Sciences of the National University of Singapore has formulated a framework of recommendations on how to ensure the project can mitigate for negative impacts on local and migratory bird species, help support the declining global populations of shorebirds, and ensure the safety of aircraft from potential bird strikes, SMC President Ramon S. Ang said in a statement. Among the key recommendations by Rheindt is to develop new and protected coastal areas that resemble mudflats—similar to Mai Po Reserve in Hong Kong—where migratory shorebirds can safely feed when they pass through the country for several weeks throughout the year. Rheindt likewise identified suitable

areas within a 10-kilometer radius of the airport, in Malolos, Paombong and Hagonoy, Bulacan, as the best options for suitable areas to serve as an offset. “As with any project of this scale, we have to think of all the issues that impact our host communities, the environment, and the project itself. Birds are always a safety concern for airports around the world. But our goal here is to protect them, and there are several ways we can do that, while also ensuring safety at the airport,” Ang said. The consultant, however, came up with a report that tends to diminish the importance of protecting Manila Bay’s native and migratory bird populations. For instance, the report stated that though areas in and around the project site host dozens of bird species, few are critical from a conservation standpoint. The report also pointed out that many of the critical species fall under the migratory shorebirds or waterbird category. “These birds are attracted to tidal mudflats or coastal wetlands-muddy land exposed during low tide-which serve as their feeding ground.” It says that during low tide, shorebirds go to these areas to feed, and during high tide, they move to higher areas—often freshwater ponds behind the foreshore—to roost. In the case of Bulakan, many migratory birds stay for only a couple of weeks throughout the year—usually in September or October and back around April or May, while others spend the winter in the area.

The report added that the declining shorebird populations are a global phenomenon, citing the case in East and Southeast Asia, wherein some of the most pronounced declines in these birds have been linked to recent vast development projects in the Yellow Sea of China and Korea. “As such, even prior to the project, shorebird decline had already been observed in the Manila Bay over the years, and is consistent with shorebird population trends across the world,” the statement read. Nevertheless, Ang said the company is committed to protecting bird species and supporting this advocacy. “We’re considering and studying all his recommendations and will put together a plan that will align with the whole airport master plan,” Ang said. He added that even before Rheindt’s research, a number of measures were already being considered by the airport development team, and these align with the expert’s own recommendations. Among them, the use of fishponds managed specifically for shorebirds to supplement and—in part—replace tidal mudflats. “For the airport, the study of the birds’ feeding and roosting patterns and the identification of alternative sites is vital for their safety. The sites have to be close enough so as not to deviate from the birds’ migratory patterns, but at the same time, far enough so that the safety of aircraft and airport operations will not be compromised,” Ang said. “There needs to be a right balance

between developing the airport site, and protecting and enhancing the environment. We want to avoid the mistake of many developments, that’s why we have put together the best team of local and foreign experts in various fields, from land development, environment management, airport design and construction, and urban master-planning, to help build this airport and aerocity development.” “The expertise of so many global players helping us build what will be our country’s largest, most modern, and sustainable airport will make it truly world-class—something each and every Filipino will be proud of.” As part of its sustainability initiatives in the province, SMC is also putting together a plan to develop the initial 20 hectares of its proposed 80-hectare Paombong Mangrove Plantation & Sanctuary, that can host as many as 200,000 mangrove propagules. Some 13,000 propagules are already in place in the coastal areas of Hagonoy and Obando. The Paombong mangrove plantation is being planned in cooperation with the local government of Paombong, headed by Mayor Maryanne Marcos, the Department of Environment and Natural Resources, and the Bureau of Fisheries and Aquatic Resources. SMC is also actively pursuing measures to address flooding in Bulakan and the adjacent municipalities, including the cleanup and dredging of major rivers and tributaries to enable floodwaters to flow out to the sea.

Converge bags awards from Global Economics

contributed photo

onverge ICT Solutions Inc., the country’s only pure fiber broadband provider, has again gained international recognition for its drive towards technological innovation and excellence at the Global Economics Awards 2021 where it bagged two prestigious titles. Converge was recognized as the Best ICT Solutions Provider under the Technology Awards Category and their CEO and Co-Founder Dennis Anthony H. Uy was awarded Best Entrepreneur-ICT under the Leadership Awards Category. “Converge continues to provide superior fiber internet services across the Philippines for Filipinos to continue experiencing better internet,” said Converge CEO and Co-Founder Dennis Anthony Uy. “These awards are a testament to how the company remains committed to live by its mandate of serving the unserved and underserved communities in the Philippines.” The Global Economics Awards recognizes key players in the different sectors of businesses and provides a global recognition and outreach to its recipients. The award-giving body undergoes stringent deliberations and evaluations that determine who is fit for the different categories of this program. The Technology Category aims to recognize the digital transformations enabled by technological innovations of enterprises, while the Leadership Category recognizes the achievement of individuals who show exceptional leadership and serve as an

inspiration to others in their field. This stands as a testament to Converge’s existence as a beacon of excellence in the global telecommunications industry. The Global Economics Limited is a renowned, UK-based print and online publication that aims to share thoughtful and detailed analyses of current issues in various business sectors around the world. They provide an all-inclusive, insightful, and updated coverage of commercial and investment banking, wealth management and advisory sectors. They also take on other sectors of the market that comprises insurance, real estate, technology, and energy industries that follow business and management trends around the world. “May this award be an inspiration for others to continue their hard work and passion in serving the people in their own fields,” Uy noted. “We have realized early on that quality broadband connectivity is crucial in our people’s lives and the growth and development of our country. This is the reason why Converge endeavored to build a worldclass digital highway that empowers Filipinos and the country,” he added. Converge has embarked into a massive expansion program to fiber-power more Filipinos with a goal to reach 55 percent of the Philippine households by 2025. As of the latter part of June 2021, the fiber broadband network of Converge has passed over 8 million homes as it expanded beyond Luzon and started serving Visayas and Mindanao with pure fiber broadband services.

Tuesday, September 7, 2021

Companies BusinessMirror

SM Prime aims to raise ₧10B from fixed-rate bond issuance P By VG Cabuag

@villygc

roperty developer SM Prime Holdings Inc. on Monday said it has filed with the Securities and Exchange Commission (SEC) an application for a permit to sell some P10 billion in fixed-rate bonds. The company wants to sell some P5 billion as its base offer and an over-subscription option of up to P5 billion with maturity of seven years. The issuance is the third tranche of the company’s P100-billion shelf registration of fixed rate bonds approved by the SEC in February 2020.

In March last year, SM Prime issued the first tranche amounting to P15 billion in five-year and sevenyear fixed rate bonds with interest rates of 4.8643 percent and 5.0583 percent, respectively. The second tranche was floated in February for a total of P5 billion in 2.5-year and 5-year fixed rate bonds with interest rates of 2.4565 percent and 3.8547 percent, respectively. The shopping mall operator earlier said its net income in the first semester rose 12 percent to P11.6 billion from P10.4 billion last year due its sharp recovery in the sec-

ond quarter on the back of its residential business, but revenues were still down. For April to June, its income grew more than double to P5.16 billion from P2.11 billion last year. First-half consolidated revenues were recorded at P41.1 billion, down 6 percent from P43.7 billion last year. For the second quarter alone, its gross revenues fell 12 percent to P20.48 billion from last year’s P18.21 billion. “In these challenging times, we are committed more in providing a safe environment to all our stakeholders via the strict observance of

health and safety protocols across all our developments. Along with this commitment is our initiative to support the national government’s vaccination program in our malls nationwide as well as providing free inoculation to thousands of our employees,” SM Prime President Jeffrey C. Lim said. The company said its residential business continued to improve in the first half, while its shopping malls business recorded improvements in the second quarter despite the reimplementation of tougher quarantine restrictions from March to May in Metro Manila and nearby provinces.

Pacific Online, partner bag PCSO project L

isted firm Pacific Online Systems Corp. on Monday said it has secured a P5.8billion contract for a lottery project of state-owned Philippine Charity Sweepstakes Office (PCSO). The company said it was declared as the single calculated and responsive bid for the “2021 PLS project” of the PCSO. “The PCSO further advised that pursuant to the requirements of the Government Procurement Law [Republic Act No. 9184], a formal contract will be executed with the joint venture after the latter shall have complied with the requirement to post performance security,” it said in its disclosure. Pacific Online is carrying out the project along with Philippine Gaming Management Corp. (PGMC) and International Lottery and Totalizator Systems Inc. Pacific Online owns half of the joint venture, while PGMC owns 49 percent. ILTS is the owner of the remaining 1 percent. “The benefits and costs to the joint venture will be shared in accordance with the parties’ respective participation,” the company said. Pacific Online and PGMC are currently the equipment lessors to PCSO of the online lottery systems

being used for its lotto operations throughout the Philippines. ILTS is the equipment supplier of PGMC. Pacific Online provides technical and market expertise for the distribution of lottery products in the country in partnership with PCSO. Since 1995, the company has been leasing to PCSO its online lottery systems for the Visayas and Mindanao regions. It also provides the technical support to the PCSO through a maintenance repair agreement, which is co-terminus with its equipment lease agreement. The company’s direct subsidiaries include Loto Pacific Leisure Corp., which acquires, owns, leases, sells, operates and manages amusement, recreational and gaming equipment facilities; and Total Gaming Technologies Inc., which leases Keno lottery system and equipment to PCSO nationwide. The PCSO’s bids and awards committee has earlier denied the third protest filed by the joint venture of Philippine United Technic Corp., Digi-Specs IT Corp. and GenLot Game Technology Co. Ltd. This effectively disqualified the group of GenLot to bid and left the group of Pacific Online as the lone bidder for the multi-billion project.

‘Fixed wireless business is a bright spot for Smart’ By Lorenz S. Marasigan @lorenzmarasigan

mart Communications Inc. sees its fixed wireless business as a “bright spot” given the increased demand for connectivity amid the pandemic. Jane J. Basas, the company’s SVP and head for its consumer wireless business, said the company expects to further grow the fixed wireless business this year, after booking a P1.1-billion revenue for the said segment in the first half. “Fixed wireless is a bright spot, as demand for our Prepaid Home WiFi service grows, pushing our daily activations on an upward trend,” she said. In a nutshell, fixed wireless refers to WiFi modems that connect multiple devices to Smart LTE but have to stay plugged into power.

“The power of fixed wireless is that it is ‘plug and play’—no need for installations and wires. It is a ubiquitous solution that enables us to provide broadband connectivity wherever we have 4G/LTE coverage. For Smart, this means we are able to provide fixed wireless connectivity to 96 percent of the Philippine population from Batanes to Tawi-Tawi,” Basas said. Its customer base for the said segment, she added, is growing “by as much as 200 percent month on month.” “With more Filipinos going digital in the New Normal—including families gearing up for another school year of taking online classes and continuing their work-fromhome setup—there is need for significantly more data to accomplish daily tasks and stay productive online,” she said.

Pacific Online posted a net loss of P44.55 million in the first semester, narrower than its P163.93-million loss last year. Total revenues for the period reached of P205 million, some 14 per-

cent higher than last year’s P180.1 million. The company attributed this to the reopening of more lottery agents and the increase in the volume of players buying tickets. VG Cabuag

PSE STOCK QUOTATIONS

September 6, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities ALFM Growth Fund, Inc. -a 221.35 15.93% -5.48% -3.83% -2.58% ATRAM Alpha Opportunity Fund, Inc. -a 1.5339 44.69% 1.16% 1.63% 16.82% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0397 19.09% -9.53% -6.84% -2.98% Climbs Share Capital Equity Investment Fund Corp. -a 0.7384 12% -7.17% n.a. -8.15% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7612 10.16% -3.98% n.a. 2.64% First Metro Save and Learn Equity Fund,Inc. -a 4.944 20.13% -3.12% -1.9% 0.05% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.7422 16.08% -5% -5.59% -2.32% MBG Equity Investment Fund, Inc. -a 98.32 22.53% -5.75% n.a. -3.55% PAMI Equity Index Fund, Inc. -a 45.4083 19.16% -3.95% -2.66% -3.07% Philam Strategic Growth Fund, Inc. -a 476.04 15.64% -3.61% -3.1% -2.65% Philequity Alpha One Fund, Inc. -a,d 1.0873 25.22% n.a. n.a. -0.91% Philequity Dividend Yield Fund, Inc. -a 1.1982 22.28% -2.6% -1.56% 2.57% Philequity Fund, Inc. -a 34.4666 20.2% -3.22% -1.52% -0.87% Philequity MSCI Philippine Index Fund, Inc. -a 0.8864 18.03% n.a. n.a. -2.91% Philequity PSE Index Fund Inc. -a 4.6672 19.97% -3.29% -1.88% -2.59% Philippine Stock Index Fund Corp. -a 779.98 19.93% -3.25% -2.01% -2.7% Soldivo Strategic Growth Fund, Inc. -a 0.7034 19.59% -7.3% -5.24% -2.16% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5829 18.65% -5.41% -3.14% -1.13% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8907 19.54% -3.58% -2.16% -2.94% United Fund, Inc. -a 3.2696 20.71% -3.51% -1.2% -1.49% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 104.7396 19.95% -3.07% -1.49% -2.62% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2103 12.37% 5.86% 5.94% 0.62% 18.05% 12.75% 12.16% 11.52% Sun Life Prosperity World Voyager Fund, Inc. -a $1.8655 Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6787 6.33% -0.35% -1.61% 0.61% ATRAM Philippine Balanced Fund, Inc. -a 2.2119 9.24% -1.05% -1.47% -3.22% First Metro Save and Learn Balanced Fund Inc. -a 2.615 10.66% 0.15% -0.28% -0.46% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1926 12.9% n.a. n.a. -3.02% NCM Mutual Fund of the Phils., Inc. -a 1.9597 8.2% 1.48% 0.36% -0.22% PAMI Horizon Fund, Inc. -a 3.6874 8% 0.5% -0.91% -2.66% Philam Fund, Inc. -a 16.5091 8.35% 0.6% -0.87% -2.52% -0.72% Solidaritas Fund, Inc. -a 2.0596 9.49% -0.53% -1.65% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5542 10.94% -1.89% -1.54% -0.53% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9862 7.27% n.a. n.a. -3.56% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9058 11.51% n.a. n.a. -4.57% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8931 13.64% n.a. n.a. -4.29% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8954 13.72% -2.34% -1.87% 0.87% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03841 -1.44% 2.95% 1.24% -1.81% -3.36% PAMI Asia Balanced Fund, Inc. -b $1.1116 5.19% 4.01% 3.56% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.8608 13.72% 9.8% 8.56% 7.71% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.2354 6.26% 5.75% 4.57% 2.77% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 373 1.33% 3.04% 2.41% 0.52% ATRAM Corporate Bond Fund, Inc. -a 1.9281 -1.04% 1.17% 0.21% 1.46% Cocolife Fixed Income Fund, Inc. -a 3.2389 1.24% 3.46% 4.22% 0.75% Ekklesia Mutual Fund Inc. -a 2.2621 -1.6% 2.14% 1.19% -1.48% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4407 -0.52% 3.24% 1.69% -0.51% -3.28% Philam Bond Fund, Inc. -a 4.4828 -3.88% 4.4% 1.12% Philam Managed Income Fund, Inc. -a 1.3204 0.73% 4.02% 2.72% -0.06% Philequity Peso Bond Fund, Inc. -a 3.9804 0.7% 4.69% 1.99% -0.52% Soldivo Bond Fund, Inc. -a 1.0383 0.13% 4.88% 1.58% -0.36% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2214 1.32% 5.03% 2.39% 0.48% Sun Life Prosperity GS Fund, Inc. -a 1.7521 0.52% 4.34% 1.71% -0.17% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $488.2 1.98% 3.16% 2.13% 0.89% ALFM Euro Bond Fund, Inc. -a Є220.71 1.63% 1.15% 0.83% 0.7% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2081 -2.49% 2.57% 1.41% -5.65% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0262 - 0.76% 1.85% 0.86% -1.5% PAMI Global Bond Fund, Inc -b $1.0553 -3.05% 0.6% -1.03% -3.42% Philam Dollar Bond Fund, Inc. -a $2.5358 1.5% 5.43% 2.01% 0.01% Philequity Dollar Income Fund Inc. -a $0.0631195 3.41% 3.54% 2.11% 1.29% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2119 -0.51% 3.37% 0.83% -0.36% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130.63 1.29% 2.97% 2.54% 0.63% First Metro Save and Learn Money Market Fund, Inc. -a 1.0547 1.02% n.a. n.a. 0.63% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3089 1.55% 2.77% 2.55% 0.95% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0584 0.99% 1.59% n.a. 0.57% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3479 28.04% n.a. n.a. 19.33% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d $1 4.17% n.a. n.a. 2.04% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa. com.ph to see the latest NAVPS/NAVPU."

September 6, 2021

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

ASIA UNITED 44 44.45 44 44 44 44 200 8,800 BDO UNIBANK 116.6 117 115.9 117.1 115.9 117 2,537,540 295,954,813 83.1 83.25 83.5 83.55 82.25 83.25 1,070,680 89,145,972 BANK PH ISLANDS CHINABANK 24.4 24.5 24.2 24.5 24.2 24.5 30,400 744,155 9.21 9.26 9.14 9.27 9.14 9.26 123,300 1,137,497 EAST WEST BANK METROBANK 44.8 44.9 45 45.1 44.7 44.9 2,129,200 95,504,255 PBCOM 18.46 18.5 18.62 18.62 18.48 18.5 2,000 37,080 20.4 20.45 20.55 20.65 20.4 20.45 311,500 6,374,325 ( PHIL NATL BANK PSBANK 56 56.2 55.5 56.2 55.5 56.2 2,020 113,047 19.92 20 19.98 20.1 19.8 20 117,400 2,348,406 RCBC SECURITY BANK 112.6 113 113.2 113.6 112.3 112.6 315,990 35,649,944 UNION BANK 84.2 84.3 85.7 85.7 83 84.3 81,050 6,817,023 4.3 4.32 4.32 4.32 4.3 4.3 46,000 198,160 COL FINANCIAL FERRONOUX HLDG 3 3.07 2.91 3 2.91 3 7,000 20,820 1.27 1.35 1.35 1.35 1.35 1.35 31,000 41,850 IREMIT MEDCO HLDG 0.32 0.365 0.33 0.365 0.32 0.365 300,000 99,650 945 975 945 945 945 945 20 18,900 MANULIFE PHIL STOCK EXCH 226 231 225 232 225 231 250 57,056 SUN LIFE 2,450 2,500 2450 2,450 2,450 2,450 5 12,250 INDUSTRIAL AC ENERGY 9.97 9.98 10.06 10.14 9.8 9.98 45,428,900 453,107,517 1.17 1.19 1.19 1.19 1.17 1.17 220,000 260,820 ALSONS CONS ABOITIZ POWER 28.7 28.8 29.05 29.05 28.4 28.8 3,658,800 104,669,775 0.62 0.63 0.64 0.64 0.62 0.63 10,420,000 6,565,660 BASIC ENERGY FIRST GEN 31.85 31.9 31.9 32 31.85 31.85 699,600 22,327,440 FIRST PHIL HLDG 77.5 77.55 77.3 77.55 77 77.5 298,110 23,075,198 288 289.8 289.8 291.6 287.2 289.8 69,570 20,156,344 MERALCO MANILA WATER 18.04 18.06 18.1 18.2 17.92 18.04 658,900 11,869,366 3.11 3.12 3.15 3.15 3.11 3.11 1,353,000 4,222,620 PETRON PETROENERGY 3.94 3.95 3.94 3.94 3.94 3.94 30,000 118,200 PHX PETROLEUM 12.6 12.74 12.78 12.78 12.68 12.74 5,500 70,276 19.5 19.56 19.2 19.52 19.2 19.5 525,600 10,151,872 PILIPINAS SHELL SPC POWER 13.4 13.48 13.18 13.7 13.18 13.4 167,400 2,242,330 5.35 5.37 5.46 5.46 5.25 5.37 125,500 670,263 AGRINURTURE AXELUM 2.74 2.75 2.82 2.82 2.74 2.75 329,000 907,670 13.78 14.18 13.78 14.18 13.76 13.76 10,500 144,642 CNTRL AZUCARERA CENTURY FOOD 26.5 26.55 25.95 26.6 25.95 26.5 2,197,100 58,037,745 DEL MONTE 13.56 13.58 13.26 13.56 13.22 13.56 90,000 1,211,220 8.35 8.39 8.28 8.42 8.23 8.35 1,477,800 12,342,557 DNL INDUS EMPERADOR 16.98 17 17.1 17.32 16.64 16.98 10,468,800 178,151,448 ( 78.7 78.95 78.75 79 78.5 78.95 66,640 5,258,671.5 SMC FOODANDBEV 0.64 0.66 0.67 0.67 0.64 0.65 563,000 360,830 ALLIANCE SELECT FRUITAS HLDG 1.21 1.22 1.23 1.26 1.2 1.21 17,907,000 21,940,920 101.3 101.4 105.4 105.4 101 101.4 80,200 8,185,572 GINEBRA JOLLIBEE 205 206 200.8 208 200.6 206 727,150 149,503,248 28.2 29.45 30.4 30.4 28.2 28.2 2,900 85,960 LIBERTY FLOUR MACAY HLDG 6.42 7.3 6.4 6.4 6.4 6.4 1,200 7,680 MAXS GROUP 6.44 6.45 6.34 6.5 6.33 6.45 32,500 208,632 0.216 0.226 0.226 0.226 0.215 0.215 630,000 137,250 MG HLDG MONDE NISSIN 16.72 16.78 16.7 16.96 16.68 16.72 6,367,400 106,884,036 7.85 7.95 7.62 7.95 7.62 7.85 31,600 246,171 SHAKEYS PIZZA ROXAS AND CO 0.89 0.9 0.89 0.92 0.89 0.89 2,890,000 2,600,350 RFM CORP 4.49 4.56 4.45 4.58 4.45 4.56 17,000 76,590 1.36 1.4 1.36 1.4 1.36 1.4 2,000 2,760 ROXAS HLDG SWIFT FOODS 0.13 0.131 0.129 0.131 0.127 0.131 8,710,000 1,123,000 143.4 143.5 145.7 146.4 143 143.4 591,140 85,326,753 UNIV ROBINA VITARICH 0.79 0.8 0.8 0.8 0.78 0.8 616,000 489,450 1.23 1.24 1.24 1.25 1.22 1.23 1,363,000 1,675,960 CEMEX HLDG EAGLE CEMENT 14.2 14.36 14.2 14.24 14.2 14.2 45,600 647,632 EEI CORP 7.9 7.97 7.83 7.9 7.82 7.9 34,900 274,842 6.98 6.99 6.8 6.98 6.68 6.98 1,564,300 10,739,095 HOLCIM MEGAWIDE 6.1 6.11 6.25 6.25 6.1 6.1 761,300 4,663,507 14.38 14.48 14.28 14.38 14.28 14.38 28,100 402,710 PHINMA TKC METALS 0.97 0.99 0.97 0.97 0.97 0.97 48,000 46,560 VULCAN INDL 1.31 1.33 1.37 1.4 1.31 1.31 8,154,000 10,941,830 1.71 1.72 1.71 1.72 1.71 1.72 87,000 148,780 CROWN ASIA EUROMED 1.76 1.78 1.75 1.79 1.75 1.76 52,000 91,720 4.23 4.6 4.23 4.23 4.23 4.23 1,000 4,230 LMG CORP MABUHAY VINYL 5.2 5.41 5.38 5.38 5.3 5.3 7,100 37,958 PRYCE CORP 5.46 5.47 5.46 5.5 5.45 5.47 217,600 1,190,056 23 23.3 23 23.5 23 23 365,600 8,436,850 CONCEPCION GREENERGY 2.52 2.53 2.67 2.67 2.5 2.53 6,364,000 16,155,900 8.53 8.55 8.63 8.7 8.5 8.55 150,200 1,294,645 INTEGRATED MICR IONICS 0.92 0.93 0.93 0.93 0.92 0.92 64,000 59,100 PANASONIC 5.9 5.99 5.99 5.99 5.9 5.9 9,600 57,134 1.2 1.22 1.17 1.24 1.17 1.23 129,000 154,770 SFA SEMICON CIRTEK HLDG 4.64 4.65 4.6 4.66 4.6 4.65 2,076,000 9,612,780

HOLDING & FRIMS

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ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS

1.04 6.03 791 44.5 10.6 5.08 6.95 0.99 0.56 0.55 5.08 6.72 7.62 0.285 565 3.67 64.1 5.32 5.55 0.64 3.1 9.02 3.91 1.94 1.16 998 112.2 0.67 132.1 0.26

1.06 6.29 793 44.95 10.66 5.09 7.09 1 0.59 0.58 5.09 6.73 7.78 0.315 568 3.81 65 5.68 5.97 0.67 3.19 9.06 3.92 1.95 1.2 999 113 0.7 134 0.27

1.08 6.29 790.5 44.9 10.64 5.07 6.95 0.98 0.56 0.58 5.03 6.65 7.78 0.285 560 3.76 64.95 5.32 5.88 0.66 3.09 9.09 3.88 1.9 1.17 1002 113 0.69 132.5 0.26

1.08 6.29 795 44.95 10.7 5.18 6.95 1 0.59 0.58 5.09 6.75 7.79 0.315 571.5 3.76 65.05 5.32 5.98 0.67 3.18 9.28 3.93 1.95 1.18 1,008 113 0.69 134 0.26

1.03 6.29 790.5 44.05 10.54 4.96 6.95 0.97 0.56 0.58 5.02 6.64 7.78 0.285 556 3.67 63.2 5.32 5.55 0.65 3.09 9.01 3.88 1.9 1.16 995 112.2 0.69 132.5 0.26

1.06 6.29 791 44.95 10.6 5.09 6.95 0.99 0.59 0.58 5.09 6.72 7.78 0.315 565 3.67 65 5.32 5.97 0.67 3.1 9.02 3.92 1.95 1.18 998 113 0.69 134 0.26

5,658,000 100 91,470 582,800 402,300 4,271,700 1,100 1,359,000 425,000 14,000 579,000 16,892,500 8,000 1,900,000 220,080 4,000 1,251,200 4,500 22,000 326,000 1,036,000 23,838,600 3,747,000 170,000 26,000 86,135 41,810 22,000 1,350 50,000

5,908,750 629 72,391,035 26,082,865 4,266,708 21,659,245 7,645 1,346,050 239,200 8,120 2,935,595 113,281,534 62,241 544,300 124,661,570 14,950 81,153,549 23,940 130,200 211,990 3,201,540 216,710,356 14,636,830 326,190 30,500 86,014,092.5 4,716,465 15,180 179,347 13,000

199,895,432 (30,354,910) (49,716) (52,527,675) 403,354.9997) (12,247,675) (3,802,662.5) 4,320 42,827,539 6,124,485 (472,500) (1,546,965) 196,796 8,551,466 2,878,886 (709,670) 464,180 4,080 (82,787) 8,250 18,470,510 (27,826) (5,510,994) 134,750.0002) (3,720,103.5) 228,120 26,390 27,450,084 (0) (18,854,486) (1,209,410) (40,050) (25,621,245) 8,690 (8,639,605) 122,340 125,150.0001 1,163,800 153,800 (426,811) 254,580 622,000 52,311,540 21,448,445 (664,668) (60,997) 6,950 818,860 (3,653,509) 37,766,105 39,750,223.5 9,540 (107,775,501) 999,210 (66,300) 7,340,227.5 412,117 15,180 -

PROPERTY ARTHALAND CORP 0.66 0.68 0.65 0.66 0.65 0.66 531,000 350,340 33.5 33.8 33.15 33.8 33.15 33.8 1,934,300 65,071,365 13,155,110 AYALA LAND ARANETA PROP 1.08 1.14 1.1 1.14 1.06 1.08 146,000 159,540 (629.9999) 38.35 38.75 38 38.75 37.5 38.75 712,300 27,176,520 10,614,265 AREIT RT BELLE CORP 1.38 1.39 1.4 1.4 1.38 1.38 65,000 90,250 (21,000) A BROWN 0.86 0.87 0.84 0.87 0.84 0.87 42,000 35,320 0.78 0.79 0.78 0.79 0.78 0.79 92,000 72,160 9,470 CITYLAND DEVT CROWN EQUITIES 0.122 0.123 0.124 0.125 0.122 0.123 16,810,000 2,051,780 2,480 3.25 3.26 3.21 3.28 3.2 3.26 1,332,000 4,338,870 (268,820) CEB LANDMASTERS CENTURY PROP 0.455 0.46 0.465 0.475 0.455 0.46 23,740,000 10,954,400 316,550 DOUBLEDRAGON 10.16 10.18 10.12 10.34 10.12 10.18 346,200 3,533,322 302,783.9997 1.78 1.79 1.8 1.8 1.78 1.79 5,694,000 10,193,300 (2,062,400) DDMP RT DM WENCESLAO 6.58 6.59 6.5 6.6 6.5 6.59 66,000 434,167 19,800 0.275 0.28 0.275 0.285 0.275 0.28 390,000 108,300 EMPIRE EAST EVER GOTESCO 0.425 0.43 0.42 0.435 0.415 0.43 21,000,000 8,975,200 75,100 7.24 7.25 7.23 7.24 7.18 7.24 2,926,000 21,142,108 (8,948,201) FILINVEST RT 1.1 1.11 1.1 1.11 1.1 1.11 2,493,000 2,760,630 879,860 FILINVEST LAND GLOBAL ESTATE 1.13 1.14 1.25 1.3 1.13 1.14 35,784,000 42,476,120 242,250 7.16 7.39 7.4 7.4 7.4 7.4 8,900 65,860 8990 HLDG PHIL INFRADEV 1.21 1.24 1.23 1.25 1.2 1.24 2,610,000 3,169,380 24,200 3.26 3.76 3.27 3.27 3.26 3.26 5,000 16,340 KEPPEL PROP CITY AND LAND 1.26 1.29 1.25 1.26 1.25 1.26 50,000 62,790 13,850 MEGAWORLD 2.82 2.84 2.86 2.89 2.82 2.82 22,459,000 63,642,620 (44,358,210) 0.33 0.335 0.31 0.33 0.31 0.33 47,600,000 15,457,000 (449,550) MRC ALLIED PHIL ESTATES 0.52 0.54 0.54 0.54 0.52 0.52 2,476,000 1,312,850 (25,920) 2.01 2.07 2.09 2.1 2.01 2.01 140,000 284,310 (38,330) PRIMEX CORP ROBINSONS LAND 16.76 16.8 16.84 16.98 16.72 16.8 1,810,800 30,515,506 13 ,535,594.0001 PHIL REALTY 0.265 0.27 0.265 0.27 0.265 0.27 1,170,000 313,850 (5,300) 1.51 1.53 1.52 1.53 1.5 1.5 84,000 127,840 (88,740) ROCKWELL SHANG PROP 2.61 2.64 2.64 2.64 2.61 2.64 19,000 49,860 10,560 3.07 3.08 3 3.08 2.94 3.07 973,000 2,948,730 (30,099.9999) STA LUCIA LAND SM PRIME HLDG 33.5 33.85 34 34.15 33.5 33.5 2,967,000 100,251,440 4,684,435 VISTAMALLS 3.67 3.8 3.66 3.81 3.66 3.8 20,000 74,730 1.57 1.6 1.63 1.63 1.6 1.6 66,000 106,700 SUNTRUST HOME VISTA LAND 3.55 3.58 3.55 3.58 3.51 3.58 348,000 1,237,450 430,510 SERVICES ABS CBN 10.88 10.9 10.88 10.92 10.82 10.9 481,400 5,244,286 12.7 12.72 12.86 12.86 12.68 12.7 3,287,700 41,833,710 GMA NETWORK MANILA BULLETIN 0.4 0.415 0.4 0.41 0.4 0.41 160,000 65,100 2,690 2,700 2700 2,708 2,650 2,700 57,205 153,983,670 34,943,200 GLOBE TELECOM PLDT 1,462 1,465 1469 1,469 1,440 1,462 98,510 143,524,295 (5,267,175) APOLLO GLOBAL 0.113 0.114 0.114 0.117 0.112 0.114 339,670,000 38,947,760 728,030 31.45 31.5 31.95 31.95 31.35 31.5 9,515,200 300,218,970 (112,759,535) CONVERGE DFNN INC 3.85 3.87 3.88 3.92 3.76 3.87 261,000 994,610 (338,100) 8.62 8.63 8.5 8.66 8.44 8.62 4,439,800 37,954,787 5,796,012 DITO CME HLDG IMPERIAL 1.4 1.5 1.4 1.5 1.4 1.5 19,000 28,150 NOW CORP 2.03 2.04 2.02 2.06 2 2.03 1,918,000 3,911,120 0.39 0.395 0.39 0.405 0.385 0.395 3,770,000 1,492,550 TRANSPACIFIC BR PHILWEB 2.2 2.24 2.16 2.24 2.16 2.24 322,000 704,160 (38,880) 8.09 8.15 8.06 8.12 8.06 8.09 15,500 125,263 2GO GROUP ASIAN TERMINALS 14 14.1 14 14.1 14 14.1 503,100 7,043,710 2.52 2.55 2.54 2.55 2.52 2.55 275,000 695,180 (184,440) CHELSEA 44 44.1 44.2 45 43.8 44.1 169,100 7,472,015 (2,078,600) CEBU AIR INTL CONTAINER 177.5 178.5 178 179.2 177.2 177.5 785,520 139,769,620 (5,960,967) 16.5 16.74 16.26 16.5 16.22 16.5 9,600 155,928 11,382 LBC EXPRESS MACROASIA 4.68 4.7 4.7 4.82 4.64 4.7 887,000 4,165,570 84,910 1.65 1.69 1.7 1.7 1.65 1.68 58,000 96,100 METROALLIANCE A HARBOR STAR 1.05 1.07 1.08 1.1 1.02 1.05 336,000 347,140 ACESITE HOTEL 1.61 1.63 1.65 1.65 1.61 1.61 70,000 114,100 0.093 0.094 0.095 0.096 0.093 0.093 51,170,000 4,796,750 390,140 BOULEVARD HLDG DISCOVERY WORLD 2.22 2.29 2.2 2.2 2.2 2.2 37,000 81,400 0.52 0.53 0.52 0.53 0.52 0.53 36,000 18,730 WATERFRONT CENTRO ESCOLAR 6.53 7.09 6.51 6.9 6.51 6.9 1,600 10,535 IPEOPLE 6.8 7.08 6.8 6.8 6.8 6.8 100 680 0.35 0.355 0.355 0.355 0.35 0.35 3,320,000 1,162,250 STI HLDG BERJAYA 6.49 6.5 6.28 7.26 6.12 6.5 2,169,300 14,212,161 19,800 6.31 6.36 6.3 6.43 6.3 6.31 1,443,100 9,169,780 2,297,733 BLOOMBERRY PACIFIC ONLINE 2.22 2.25 2.21 2.48 2.21 2.23 3,737,000 8,684,790 (109,180) LEISURE AND RES 1.77 1.8 1.84 1.92 1.75 1.77 1,563,000 2,833,260 1,750 1.93 1.95 1.95 1.95 1.95 1.95 6,000 11,700 MANILA JOCKEY PH RESORTS GRP 1.56 1.6 1.59 1.6 1.55 1.57 1,409,000 2,207,030 (242,640) 0.435 0.44 0.435 0.455 0.435 0.44 8,540,000 3,795,450 (18,000) PREMIUM LEISURE ALLHOME 9.1 9.12 9.03 9.3 9.01 9.1 1,096,700 9,999,746 3 ,047,411.0003 1.27 1.29 1.27 1.29 1.27 1.27 434,000 551,960 (251,620) METRO RETAIL 42.65 42.8 43.15 43.15 42.2 42.8 957,700 40,962,515 9,303,930 PUREGOLD ROBINSONS RTL 49.9 49.95 50.5 50.9 49.85 49.95 967,500 48,367,160 3,629,840 87 87.7 88 90 87 87.7 3,790 333,110 (228,903) PHIL SEVEN CORP SSI GROUP 1.15 1.16 1.16 1.17 1.14 1.15 1,724,000 1,986,360 (87,250) 26.3 26.35 26.75 26.9 26.05 26.35 1,181,600 31,182,970 1,696,630 WILCON DEPOT 5.28 5.55 5.27 5.27 5.27 5.27 2,200 11,594 EASYCALL GOLDEN MV 461.4 473 460.8 477 460.8 473 3,100 1,461,112 (4,770) 1.13 1.14 1.17 1.17 1.1 1.13 41,692,000 46,818,800(4, 992,989.9998) PRMIERE HORIZON SBS PHIL CORP 4.3 4.4 4.2 4.35 4.2 4.3 225,000 958,370 MINING & OIL ATOK 6.7 6.8 6.67 6.89 6.4 6.7 323,500 2,180,363 1.5 1.52 1.51 1.54 1.5 1.5 2,745,000 4,130,910 28,500 APEX MINING ATLAS MINING 6.45 6.46 6.3 6.46 6.3 6.45 903,800 5,802,647 20,544 4.93 5.15 5.1 5.2 4.91 5.16 11,200 55,646 BENGUET A COAL ASIA HLDG 0.29 0.305 0.295 0.3 0.295 0.3 510,000 151,750 CENTURY PEAK 2.54 2.55 2.68 2.68 2.55 2.55 179,000 457,560 204,000 6.04 6.31 6.32 6.32 6.01 6.01 1,700 10,341 DIZON MINES FERRONICKEL 2.14 2.16 2.17 2.19 2.14 2.14 3,941,000 8,514,580 (28,210) 0.265 0.285 0.265 0.265 0.265 0.265 280,000 74,200 GEOGRACE LEPANTO A 0.14 0.143 0.141 0.143 0.139 0.14 2,900,000 408,650 MANILA MINING A 0.01 0.011 0.01 0.01 0.01 0.01 3,300,000 33,000 0.94 0.96 0.95 0.97 0.94 0.94 482,000 459,600 9,500 MARCVENTURES NIHAO 1.2 1.25 1.21 1.21 1.2 1.2 24,000 28,900 5.95 5.97 5.88 6.04 5.88 5.97 7,421,800 44,346,451 2,490,807 NICKEL ASIA OMICO CORP 0.38 0.4 0.395 0.395 0.395 0.395 110,000 43,450 0.91 0.92 0.9 0.92 0.9 0.92 54,000 49,630 ORNTL PENINSULA PX MINING 5.8 5.84 5.6 6 5.6 5.8 2,125,600 12,239,410 91,422 SEMIRARA MINING 18.2 18.22 18.02 18.46 18 18.22 3,638,400 66,520,432 7,632,178 0.0075 0.0077 0 0.0078 0.0078 0.0075 0.0075 188,000,000 1,417,700 22,800 UNITED PARAGON ACE ENEXOR 15.86 15.9 15.88 15.9 15.5 15.9 175,000 2,758,700 0.011 0.012 0.011 0.012 0.011 0.012 15,600,000 177,900 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 100,000 1,100 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.01 521,400,000 5,216,800 20,000 6.94 7 6.41 7.26 6.41 6.94 1,986,100 13,770,050 (216,280) PXP ENERGY

PREFFERED

HOUSE PREF A AC PREF B2R CEB PREF CPG PREF A DD PREF FGEN PREF G MWIDE PREF PNX PREF 3B PNX PREF 4 PCOR PREF 2B SMC PREF 2C SMC PREF 2E SMC PREF 2F SMC PREF 2H SMC PREF 2J SMC PREF 2K

100.3 520 43.15 101.3 100.9 103.6 100.8 106.1 1,005 1,003 76.3 75.6 79.1 76.25 76.05 76

101 529.5 43.25 102.9 101 105.2 101 106.5 1,006 1,021 76.35 76.6 79.4 76.9 76.7 76.75

100.3 528 43.15 101.2 100.9 103.5 101 106.5 1005 1021 76.2 75.6 78.8 76.35 76.7 76.75

100.3 528 43.3 102.9 100.9 103.5 101 106.5 1,005 1,021 76.35 76.55 79.3 76.9 76.7 76.75

100.3 528 43.15 101.2 100.9 103.5 101 106.5 1,004 1,003 76.2 75.55 78.8 76.1 76.7 76.75

100.3 528 43.15 102.9 100.9 103.5 101 106.5 1,004 1,003 76.35 76.55 79.3 76.9 76.7 76.75

10,520 1,055,156 (1,003,000) 100 52,800 112,400 4,858,550 (4,724,690) 300 30,530 6,980 704,282 100 10,350 2,880 290,880 (170,690) 1,170 124,605 1,065 1,069,760 3,520 3,537,100 37,220 2,839,063.5 5,240 397,172 126,200 10,000,060 73,600 5,605,567 22,905 700 53,690 30 2,302.5 -

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 10.36 10.4 10.4 10.4 10.4 10.4 19,300 200,720 GMA HLDG PDR 11.94 12 12 12 11.94 11.94 44,300 529,758

WARRANTS

LR WARRANT 0.57 0.58 0.56 0.6 0.55 0.57 3,755,000 TECH WARRANT 1.54 1.55 1.61 1.62 1.52 1.55 8,813,000

2,110,780 13,771,780

ALTUS PROP ITALPINAS KEPWEALTH MAKATI FINANCE MERRYMART

1,987,222 260,860 37,610 7,200 24,063,370

SMALL & MEDIUM ENTERPRISES 19.22 2.02 4.17 2.4 3.91

19.42 2.03 4.2 2.97 3.92

20 2.01 4.18 2.4 4.01

20 2.03 4.18 2.4 4.01

19.16 2.01 4.17 2.4 3.9

19.22 2.03 4.18 2.4 3.92

102,600 129,000 9,000 3,000 6,090,000

EXHANGE TRADE FUNDS FIRST METRO ETF

104.6

104.7

105

104.4

104.6

6,220

650,936

(200,720) (11,940) 25,350 4,680 (19,254) (809,180) (60,646)

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Banking&Finance BusinessMirror

The true cost of motor-vehicle ownership

AVE you ever been late to work because there was a mass transport strike that day? Did you ever lose your wallet when you took the late night jeepney on the way to your home? Oh, look, my classmate’s dad drives a brand new sports car whenever he is picked up from school. These are just some factors motivating people to buy their own motor vehicles, whether it be a sports car, a family van or a motorcycle. In this difficult time wherein, mass transport is limited and the Covid-19 Delta variant is quickly spreading, having one’s own motor vehicle can be a big source of comfort. At the same time, however, most of us do not have a complete idea of what it takes to properly maintain and take care of your mobile asset. To give you an idea of what are the usual costs associated with maintaining a midsize Sports Utility Vehicle or SUV, here are the list of estimated costs related to each part: n Required costs: yearly registration with the Land Transportation Office (P5,000-P6,000) depending on make and model of vehicle; yearly car insurance premiums (P8,000-P32,000 and up) relative to the model and type of vehicle. The newer and more expensive the vehicle, the higher the premium. n Frequent costs: Change engine oil (P3,500-P5,400 per 7,000 kilometers); change brake pads; front and rear sets (P5,000); and, reface of four brake discs (P3,600) n Less frequent costs: Electrical works (P1,500 and up, depending on extent of repair); new car alarm (P3,500); door handle replacement (P2,200); fan belts and timing belts (P500 and up); tie rods and bushing (P5,000); wheel bearings parts; and, labor (P7,000). n Major costs: 3SMF batter y

Raymond Anthony Quisumbing

personal finance (P6,000-P9,000); highway terrain wheels SUV size (P6,000 up); auxiliary fan (P7,500); new radiator (P9,000); transmission leak repair (P20,000 and up); engine overhaul (P100,000); and, engine support replacement with labor cost (P10,000). n Minor costs: air cabin filter (P600); air engine filter (P600 plus); car wipers (P2,300 per set); and, wheel vulcanizing (P150 and up, depending on size of patch to fill). n Cleaning costs: engine wash (P600) and complete car detailing (P6,000 up) n Miscellaneous: village association stickers or school stickers (P200 and up) After reading the above list, you now have a general idea of the costs related to owning a motor vehicle. In order for you to get the best out of your personal asset, keep in mind the following thoughts: 1. Do not buy a motor vehicle if you cannot really afford the monthly amortizations plus regular maintenance. 2. Must like mobile devices or other electronic or mechanical equipment, your vehicle is a depreciating asset. 3. If however; having a motor vehicle supports greatly your means of livelihood, career goals, or family plans, then choose one that fits your requirement, and your budget. 4. Know the why of your big purchase. Do you need a van with more spacious legroom in order to fit your growing

children? Do you need a pick-up if you need to haul lots of inventory? 5. Are you buying a part for a want or for a need? Do you really need to change your stock rims? Are you getting a mountain terrain type of tire when you only go driving on highways? 6. Don’t delay on minor repairs. Ignoring small things like squealing brakes might lead you to even bigger repairs such as a damaged rotor disc, or worse, a fatal car accident. The more you know and use your vehicle, the easier it is for you to feel that something is amiss. 7. Schedule your vehicle for regular check-ups and maintenance. Your trusted mechanic can take a look at what needs to be fixed early on. 8. Keep your car insurance and your life insurance in effect. If your car gets flooded and you have car insurance, you can still get the value of your car back. And if you are also injured and need to be hospitalized, your life with accident insurance can really save you from bankruptcy or wiping out your life savings. 9. A vehicle is only as good as its driver. Hence, drive carefully and responsibly. Follow traffic signs and regulations. Driving is more of a privilege, and is not a right. “Every good and perfect gift is from above, coming down from the Father of the heavenly lights, who does not change like shifting shadows.” James 1:17 — The New International Version (NIV) Please watch out for my upcoming ebook, which tackles starting your own food business.

Raymond Anthony Quisumbing is a Registered Financial Planner of RFP Philippines. Follow him at twitter at OhMyFinancePH. To learn more about personal-financial planning, attend the 92nd RFP program this October 2021. To inquire, e-mail info@ rfp.ph or text at 0917-6248110.

Editor: Dennis D. Estopace • Tuesday, September 7, 2021

T-bill rates static as inflation seen breaching govt target

By Bernadette D. Nicolas

@BNicolasBMs

HE Bureau of the Treasury fully awarded P15 billion in Treasury bills (T-bills) as rates were relatively unchanged despite expectations that the country’s inflation for August will breach the government’s target band.

The auction was almost four times oversubscribed as the tenors attracted total bids of P56.9 billion. Rates were all below the secondary markets. National Treasurer Rosalia V. De Leon said on Monday the market took its cue from the US Federal Reserve and after US jobs data for August failed to meet expectations. “Good participation with rates relatively unchanged even as August inflation expected to breach target. Market taking signals from [Fed Chairman Jerome H.] Powell and jobs report paled in comparison with expectation,” De Leon told reporters. Last week, the Bangko Sentral ng Pilipinas said it expects an inflation rate of 4.1 to 4.9 percent, citing higher prices for liquefied petroleum

gas, Meralco electricity and key food items amid the depreciation of the peso. The Philippine Statistics Authority is set to release the country’s inflation data for August today, September 7. Jonathan Koh of Standard Chartered Bank said he expects consumer price index (CPI) inflation to have risen to 4.4 percent year-on-year from 4.0 percent in July, “with the base effect slightly more favorable in August.” Meanwhile, reports have noted that the disappointing US jobs data could delay the US Fed’s plan to taper its bond purchases. Rates for the 90-day T-bills averaged 1.078 percent, a tad higher than the previous rate of 1.077 percent. Bids for the security amounted to P14.38 billion, nearly thrice the P5-

billion offering. The 182-day T-bills posted the same average rate as that of the previous auction at 1.405 percent. It garnered total bids of P21.34 billion, more than four times the P5-billion offer. As for the 364-day T-bills, the tenor fetched a lower average rate at 1.609 percent, 0.7 basis points down from 1.616 percent. Tenders for the debt paper reached P21.185 billion, more than quadruple the volume offered. For this month, the Treasury is set to borrow a total of P250 billion from the local debt market, higher than the P200 billion program in August. Broken down, P175 billion will be raised through auctioning off Treasury bonds while the remaining P75 billion will be generated via the sale of T-bills. This year, the national government programmed to borrow a total of P3.1 trillion, of which around 75 percent is expected to be raised through domestic sources. The government borrows to meet its spending requirements as well as to finance its budget deficit. The economic team sees the national government’s budget deficit this year to reach P1.86 trillion or 9.3 percent of gross domestic product, even higher than the P1.37 trillion or 7.6 percent of GDP in 2020. In 2019, the budget deficit stood at P660.2 billion or 3.4 percent of GDP.

Tuesday, September 7, 2021 • Editor: Gerard S. Ramos

Art

BusinessMirror

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Diverse group show illustrates the impact of UST artists on modern PHL art OPENING at Art Anton tomorrow, September 8, is Vision x Interpolation, a group exhibition of 22 Thomasian artists from seasoned veterans to midcareer practitioners to young up-andcomers. Shown here are Raul Isidro’s Floating Rocks (left) and Anita del Rosario’s Redeemer.

PIONEERING group exhibit brings to the fore the defining role of artists from the University of Santo Tomas (UST) in the country’s modernist art movement,

presenting a rich collection of Thomasian talents across generations and genres. The show, titled Vision x Interpolation, features the works of 22 artists from UST, ranging from seasoned veterans to mid-career practitioners to young up-andcomers. The exhibition opens tomorrow, September 8, at Art Anton in Conrad Manila, and will run until September 24. “UST Fine Arts is the bastion of modernism in the Philippine art scene,” curator Abe Orobia said. “Konti ang nagbabasa ng art history; hindi alam ng karamihan na ang modernism [in the Philippines] ay nagsimula talaga sa UST.” Spearheaded by Marissa Pe Yang, president of UST-CFAD Alumni Association, the exhibition is the product of years-long effort in mounting a large-scale

presentation that aims to solidify UST’s legacy in Philippine art. Orobia points to the integral part of National Artist Victorio Edades in shaping the UST College of Architecture and Fine Arts (CAFA), now known as College of Fine Arts and Design (CFAD), which have produced some of the country’s important modern artists. Edades, who is hailed as the Father of Philippine Modernism, “courageously took it upon himself to bring the message of modernism to Filipino artists,” acclaimed art critic and writer Alice Guillermo once wrote. She defined modernism as a “reaction against” established canon. In the early part of the 20th century, that pertained to the romanticist movement led by Fernando Amorsolo and Guillermo Tolentino. When Edades returned to the Philippines after completing his studies in the US, the artist introduced a pearl-clutching style that involved distortion and experimentation. “They thought I was a lunatic who did not know how to draw,” Edades told art critic Cid Reyes in a 1973 interview for a story that had an abridged version published on Contemporary Art Philippines in 2011. “Remember, this was the year 1928.... The rough and rugged way I shaped my figures was a bit too much for them.” The style, however, laid the groundwork for the modernist art movement in the country. Edades supplied the effort with extensive writing and collaborative paintings and architectural designs. He then formed the group Triumvirate along with Carlos “Botong” Francisco and Galo B. Ocampo, advancing the cause of modernism. The trio became pioneering professors at UST Fine Arts. It was under the watch of Edades as director of UST-CAFA when a liberal arts program was developed and mirrored the curriculum he had in the US, offering subjects like art history and foreign languages. Orobia, the curator, suggested that the torch of

Continued on B5

ArtPHonline showcases ‘Vespa History’ VESPA 150, 1956

LAUNCHED in 2020, ArtPHonline has been making its mark in promoting Filipino art and artists. The digital art platform has been showcasing online painting exhibits and auctions made by both established and emerging Filipino artists. This month, ArtPHonline showcases colorful and mood-lifting paintings of the Italian scooter brand Vespa. The “Vespa History” online exhibit features the brand’s evolution and its nine iconic models in acrylicon-canvas paintings. The models are the Vespa 98 II Serie (1947 model), Vespa Circuito 125 (1949 model), Vespa 150 (1956 model), Vespa P125X (1978 model), Vespa PX150 (1982 model), Vespa Primavera (2003 model), Vespa Red (2017 model) and Vespa GTS 75th Anniversary Edition (2021 model). Made from 2020 to 2021 by Michael Anthony Sagaran, the award-winning hotelier and painter reveals that he is a big fan of the Vespa scooter brand. From its being made in Italy—known for its Renaissance Art and Vespa’s rich history dating back to the postwar era. “The product’s aesthetic

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Evan Rachel Wood, 34; Jodie Turner-Smith, 35; Shannon Elizabeth, 48; Michael Emerson, 67. HAPPY BIRTHDAY: An open mind will lead to new adventures. Embrace life, learning and new experiences. Look at the possibilities, and be the one to make your dreams come true. Take the initiative and lean into something you feel passionate about, and good things will transpire. Work with a purpose in mind, and you’ll have no regrets. Live life your way. Your numbers are 3, 11, 15, 26, 35, 59, 44.

ARIES (March 21-April 19): Rules are there for a reason. Follow the path to victory, and eliminate challenges rather than create them. Once you do the best you can and finish what’s expected of you, take time to nurture a meaningful relationship. Plan something special. HHH

TAURUS (April 20-May 20): Take charge before someone steps in and takes over. Leave nothing to chance, and put your energy where it counts. How you approach your responsibilities will matter. If you expect others to do things for you, you’ll be disappointed. HHHHH

GEMINI (May 21-June 20): You’ll feel divided; regardless of what you do, it’s essential to choose facts over hearsay and peace over discord. Maintaining balance and integrity will be your best option. Aim to ease stress, not make matters worse. Make personal growth your priority. HHHHH

CANCER (June 21-July 22): You’ll get things wrong if you rely on someone else’s word. Consider your options carefully and the consequences that can develop if you make a mistake. Time is on your side, and working quietly on something you enjoy will lead to clarity. HHHH

LEO (July 23-Aug. 22): Don’t grasp at something that isn’t a sure thing. Read, educate yourself and say no to anything that feels risky. Focus on relationships and keeping the peace. Take care of matters and responsibilities that will ease stress and improve family ties. HHH

VIRGO (Aug. 23-Sept. 22): Dive in and don’t look back. Turn your dream into a reality by acting and ensuring that everything goes according to plan. Share your enthusiasm with someone who offers insight and support. A unique partnership will promote new beginnings. HHH

LIBRA (Sept. 23-Oct. 22): Stay on top of due dates and pending problems waiting for an inopportune moment to make you take notice. Be smart and stay on top of your responsibilities, and you’ll be able to enjoy the good that comes your way. HHH

SCORPIO (Oct. 23-Nov. 21): Sign up for an adventure or do something that challenges you physically. Let the past dissipate and fall by the wayside, and embrace life at the moment and see where it takes you. Embark on a path that brings you peace. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Don’t be gullible. Someone will mislead you if given a chance. Look inward, and you’ll know without a doubt what you can do to make your life better and your future brighter. Take the road that leads to a happy and healthy lifestyle. HH

CAPRICORN (Dec. 22-Jan. 19): Conjure up what you want, and make it happen. You are the master of your domain. Head in a meaningful direction; a healthy attitude will encourage you to excel. Revise your priorities and forge ahead. HHHHH MICHAEL ANTHONY SAGARAN

brilliance and its relevance during global pivots, like World War 2 and this ongoing pandemic inspired me to create a series of paintings featuring its evolution as a brand,” the artist adds. From its early post-war models to the special edition celebrating its 75th anniversary, Michael captures the

Vespa scooters’ spirit of creativity in design, functionality and style in his artworks. Sagaran’s early interest in drawing, which garnered him awards in various art competitions in high school, led him to take up a Fine Arts major in Advertising Arts at the University of

Santo Tomas. As a hotelier, Sagaran only resumed painting three years ago when his job in the corporate world brought him to the province, and he found himself away from family, friends and the hubbub of the city. Art and classic scooter enthusiasts can view the online exhibit and learn more about the featured artist on www. artphonline.com.

AQUARIUS (Jan. 20-Feb. 18): A partnership based on false information will flatten. Distance yourself from anyone who puts you down or manipulates you. Change begins with you, and putting more time and effort into attitude, appearance and independence will bring you one step closer to your goal. HHH

PISCES (Feb. 19-March 20): Stop living in a dream, and start making moves that help you achieve your heart’s desire. Put your energy into relationships, causes and actions that make a difference to you and the way you feel about your life and future. HHH BIRTHDAY BABY: You are passionate, emotional and creative. You are persistent and appealing.

‘making progress’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Rainbow goddess 5 Anti-censorship grp. 9 Really bad 14 “A dolphin sleeps with one eye open,” e.g. 15 In a few minutes, say 16 Employee’s annual goal? 17 Janitorial innovations? 20 Novelist’s language 21 Smile segment 22 Sophs., in two years 23 Horses with speckled coats 25 “Boo-hoo!” 27 Address that contains dots, briefly 28 Revolutions in playground design? 34 Name that sounds like an insect 35 Lack of difficulty 36 Pungent bulb 37 Costa ___ 39 Fail to save 42 Miss, in Mazatlan: Abbr. 43 Notions 45 Word after “sitting” or “waiting” 47 Mask holder, usually

48 Improvement that makes paper money harder to counterfeit? 51 Tiny, magical being 52 “Dang!” 53 Collect together 55 Mud bath venue 58 Tuna type 59 Approach hastily 61 Positive outcome of child psychology? 66 Very, informally 67 Ages and ages 68 Steep, as tea 69 Gather little by little 70 One may jump into a garden 71 “Now, about...” DOWN 1 Possibilities 2 Not cooked 3 Structures that are many blocks wide 4 Unrelenting 5 Seller’s warning 6 Edible ice cream holder 7 Proverbial bump’s place 8 Rid of obstruction

9 Great Plains tribe 10 Pallid 11 Fruits that Turkey produces the most of 12 Manual reader 13 Not as much 18 Entourage 19 Sound like a snake 23 Grading aid 24 Frozen french fry brand 25 Dismiss with contempt 26 Clamors 29 Used to be 30 Cable co., often 31 People who have hot meals? 32 Completely destroys 33 Gobbles (down) 38 Satisfied cries 40 Gallic denial 41 Person with a stethoscope, briefly 44 Very arid 46 Intended 49 Qatar’s capital 50 Made null 54 African snake

55 Self-satisfied 56 Thing often stored in a weekly organizer 57 Just one chip, perhaps 59 Ancient letter 60 Russia, once: Abbr. 62 “...blessing ___ curse?” 63 Coffee, slangily 64 Cautious acrobat’s device 65 Lowest roll in Monopoly Solution to today’s puzzle:

www.businessmirror.com.ph

Show BusinessMirror

Editor: Gerard S. Ramos

• Tuesday, September 7, 2021

‘Shang-Chi’ blasts Labor Day records with $71.4M debut TONY LEUNG (left) and Fala Chen in a scene from ShangChi and the Legend of the Ten Rings, which opened as the No. 1 film in North American theaters.

By Jake Coyle The Associated Press

EW YORK—On what’s traditionally one of the sleepiest weekends at the movies, the Marvel film Shang-Chi and the Legend of the Ten Rings smashed the record for Labor Day openings with an estimated $71.4 million in ticket sales, giving a box office reeling from the recent coronavirus surge a huge lift heading into the fall season. The Friday-to-Sunday gross for Shang-Chi and the Legend of the Ten Rings, Marvel’s first film led by an Asian superhero, ranks as one of the best debuts of the pandemic, trailing only the previous Marvel film, Black Widow ($80.3 million in July). Overseas, it pulled in $56.2 million for a global three-day haul of $127.6 million. Disney anticipates Shang Chi, made for about $150 million, will add $12.1 million domestically on Monday. The Walt Disney Co. opted to release Shang-Chi only in theaters where it will have an exclusive 45-day run. Some of the studio’s releases this year, including Black Widow, have premiered day-and-date in theaters and on Disney+ for $30. The strong opening of Shang-Chi—forecasts had been closer to $50 million—was a major relief for Hollywood, which had seen jittery releases the last few weeks during rising Covid-19 cases driven by the Delta variant. Several upcoming films have recently postponed out of the fall, including Paramount Pictures’ Top Gun: Maverick, Jackass Forever and Clifford the Big Red Dog. Disney’s weekend, though, should lend confidence to upcoming big-budget releases, such as the James Bond film No Time to Die from MGM and United Artists Releasing, and Sony Pictures’ Venom: Let There Be Carnage. “Shang-Chi is the ultimate confidence-builder for the theatrical movie industry,” said Paul Dergarabedian, senior media analyst for data firm comScore. “This was a very important film. This was the first Marvel movie that’s opened exclusively theatrically since Spider-Man: Far From Home in July 2019. Shang-Chi is a real testament of the power of a theatrical-first strategy to drive huge numbers of moviegoers to the multiplex.” Perhaps nobody was celebrating on Sunday more than theater owners. Exhibitors have argued day-anddate releases significantly cannibalize ticket sales. Warner Bros., which is putting all of its 2021 releases simultaneously on HBO Max, has vowed to end the practice next year. Adding to that argument is the continuing strong performance of Free Guy, from Disney’s 20th Century Studios. Free Guy, contractually obligated to be released only in theaters, has grossed $239.2 million globally. Without an in-home option, the Ryan Reynolds film has held especially strongly; it added $8.7 million in North America over the weekend, good for third place. In China, Free Guy has made $57 million in less than two weeks. (Shang-Chi doesn’t yet have a China release date.) Last week’s top film, the Universal horror remake Candyman, slid to second place with $10.5 million. After the holiday weekend, Universal pegs its twoweek total at $41.9 million. Still, you could also read a case for streaming in Disney’s figures on Sunday. Shang-Chi, the studio noted, premiered roughly similarly to Black Widow,

which debuted with about $160 million globally, but took in an additional $60 million on Disney+ Premier Access. Black Widow, a much more well-known property, launched before the Delta variant was widespread in North America. Its release prompted a lawsuit from star Scarlett Johansson, who argued the day-and-date approach breached her contract and deprived her of potential earnings. Disney has said the release complied with Johansson’s contract and called the suit without merit. Disney has so far declined to telegraph its future theatrical intentions, including for its next Marvel movie, Eternals (due out November 5). Bob Chapek, Disney’s chief executive, earlier called the theatrical

release of Shang-Chi “an interesting experiment”—a label that Canadian actor Simu Liu, who plays ShangChi took exception with. “We are not an experiment,” Liu wrote on Twitter. “We are the underdog; the underestimated. We are the ceiling-breakers. We are the celebration of culture and joy that will persevere after an embattled year.” At the recent exhibitor convention CinemaCon, where some studios pledged faith in the big screen, Disney didn’t make a presentation and instead simply screened Shang-Chi. Directed by Destin Daniel Cretton, the film is based on a relatively little-known comic and features a largely Asian or Asian American cast,

including Tony Leung, Awkwafina and Michelle Yeoh. Audiences and critics have heartily endorsed it. It has a 92 percent fresh score on Rotten Tomatoes and an “A” CinemaScore from moviegoers. The success of Shang-Chi and the Legend of the Ten Rings came on a typically quiet weekend for Hollywood—one that would never normally feature the premiere of a new Marvel movie. The previous record over Labor Day weekend was $30.6 million for 2007’s Halloween. But the pandemic has upended once-orderly release schedules. Shang-Chi drove moviegoing overall not to just radically higher levels than the pandemic-marred Labor Day weekend last year, but far above attendance in 2019. n

Home is where it is safest for Bianca Umali

GMA contract star Bianca Umali has learned to look at life in a totally different perspective since the pandemic took over and changed the lives of everyone around the world. “I am beginning to be a lot more discerning and appreciative of what I have because of how hard I worked for them, “ she shared, quickly adding, “Not that I have much, but what I have been blessed with in terms of the non-material things, like health, work opportunities, friends, relatives and coworkers that truly care for me.” Umali became an orphan early on in life, and losing both parents had so much impact in her young life. “I grew up in the loving care of my grandmother, and I treasure, nurture and love her because she was Lola, Papa and Mama to me as I grew up. Perhaps that is why I always feel that I should make Lola proud of what I do, in my case as an actor who constantly tries to prove herself in an already crowded and competitive work environment.”

Umali was nine years old when she first joined the children’s show Tropang Potchi, produced by the Go family of the popular candy company Columbia International Food Products Inc. And then she stayed on with GMA throughout her teenage years and waited for the big breaks to come. This year, Umali is most proud to be part of the widely followed TV series Legal Wives, where she plays the role of the third wife of the lead male character essayed by Dennis Trillo. “It is my first time to play the role of a wife and I had to really study the role. The fact that it is about Muslim characters, their very rich culture and practices made the show an even more compelling assignment. [Doing the show] was not a walk in the park but the production team really made sure that I understood my character, why she is who she is, how she moves, how she feels and how she reacts to the tests and challenges of being one of her husband’s many wives.” The pandemic has taught Umali to be extra careful and mindful of her health and those of her loved ones. “I read about the effects of the virus on people and families, and I get so scared of how it has caused so much damage to families, their work and their lives. That is why I keep myself healthy and am always cautious and vigilant, especially since I live with my grandmother. There were a few instances when the production on Legal Wives was put to a halt because some people got infected with the virus. We really followed the strictest protocols to ensure everyone’s health and safety.” Now that filming of Legal Wives is already in the

BIANCA UMALI

can and enjoying its share of high viewership, Umali feels safe once again, staying at home and doing the promotion rounds required of actors via Zoom. “Pandemic or no pandemic, home is where it is safest,” said Umali, one of GMA’s prized young stars.

Diverse group show illustrates the impact of UST artists on modern PHL art Continued from B4 modernism that Edades lit has been relayed by the succeeding generations of Thomasian artists. Between the 1930s and 1980s, modernism was carried by UST-CAFA professors, such as Alejandro Celis, Bonifacio Cristobal, Severino Fabie and Vicente Manansala, among many others. In the 1990s, which Orobia called the “golden years” of UST Fine Arts-winning students and competing art professionals, batchmates Rolando Ventura, Alfredo Esquillio, Wilfredo Offemaria Jr. and Melvin Culaba spurred “the rebirth of classicism and mannerism.” The following years saw a steady

rise in Thomasian artists earning their stripes in art communities here and abroad. PLANNED RECURRING SHOWCASE VISION x Interpolation captures the richness in the artistic talent of UST. “[The exhibition] showcases generational practices and stylisms embodied by Thomasian artists, highlighting different dialogues and expressions not limited to painting but print and sculptural works as well,” Orobia said. The exhibitors include senior artists Raul Isidro, Ramon Orlina, Anita del Rosario, Jaime Nepomuceno, Marge Organo, Lydia Velasco, Fil Delacruz, Jess Flores, Edgar Doctor, Juno Galang

and Dean Rosario Bitanga. They are joined by midcareer artists Elmer Dumlao, Anna de Leon, Lisa Villaseñor, Chris Pizarro, Richard Buxani, Meneline Wong, Milmar Onal, Juert Asejo and Janos Delacruz. Rounding out the list are young and promising 2018 graduates Summer de Guia and Ron Mariñas. The hope is for the exhibition to grow as a series of recurring presentations that showcases UST artists. Orobia said that Vision is to be the name of the series, while Interpolation refers to the aim of this maiden edition to insert and strengthen the position of Thomasian artists in the general discourse of Philippine art. “We wanted to start with the history of UST

artists,” the curator said. “Then maybe, later on, we can mount much more curated shows per art style, such as Social-Realist Thomasians or NeoExpressionist Thomasians.” Orobia added that the exhibition aspires to bring the Thomasian artistic community together as well, and inspire the younger generation of UST artists. Asked if there’s one defining trait of a Thomasian artist, the curator said it is the willingness to think and create outside the box. “Experimentation,” he said. “I cannot claim that it is only Thomasians, but there is a willingness to experiment. Gumagawa ng sariling style.” For more information on Vision x Interpolation, contact Art Anton at inquiry.artanton@gmail.com. n

B6 Tuesday, September 7, 2021

Digital solutions to close gaps in online learning

Bohol-based Ramiro Hospital expands partnership with Metro Pacific Hospitals

AMIRO Community Hospital (RCH), the leading private hospital in Bohol, with a rich 46-year history, is expanding with the help of corporate partner Metro Pacific Hospital Holdings, Inc. (MPHHI) to meet the growing needs of the island. RCH is a 118-bed Level 2 hospital in Tagbilaran City, Bohol, founded in 1975 by family patriarch Dr. Luther Z. Ramiro. Migrating to Bohol from his native Cagayan de Oro as early as in 1954, Dr. Ramiro first served as resident surgeon in Graham Memorial Hospital, then joined Bohol Medical Center in 1960, enroute to eventually take over its reins by 1971 with the help of his wife Dinah Lumain-Ramiro as Hospital Administrator. Four years later, the Ramiro couple was prodded by patients to put up its own family hospital. From a modest 10-bed facility, Ramiro Community Hospital has since grown and established itself as a household name as the place to get the best medical treatment in Bohol. In March of 2020, just before the nationwide lockdown with the onset of the Covid-19 pandemic, the Ramiro Family agreed to partner with MPHHI in operating and growing the hospital further. The Ramiro children, led by Norman , announced: "We are happy to launch our newly expanded 20seat Dialysis Center & Business Office on the occasion of Mommy’s 93rd birthday! This is just the start of other improvements we are doing

RAMIRO Community Hospital as seen from the front after completion of renovation. to our hospital, to include expanding the Critical Care Complex, equipping the OR / DR Complex, upgrading its medical equipment and renovating other services to complete the facilities for the growing needs of our community. We thank Metro Pacific Hospitals for being with us in this journey in the Ministry of Healing.” MPHHI Chairman Manuel V. Pangilinan responded: “We express our deep gratitude to the Ramiro family for welcoming us as partners in RCH. Together, we will work towards fast-tracking the completion of its ongoing expansion and renovation projects, and upgrading its line-up of medical equipment, to propel Ramiro Community Hospital to a stronger multispecialty tertiary hospital to serve the

growing population of Tagbilaran and its adjacent municipalities. In so doing, we hope to continue the vision of the late Dr. Ramiro and his late daughter, Audrey, former RCH President, and perpetuate their legacies." RCH is the 17th hospital in MPHHI’s 18-strong and growing nationwide portfolio. From its maiden investment in Makati Medical Center in 2007, the network’s reach has now extended to 8 Metro Manila and 10 provincial hospitals. MPPHI’s network also includes 2 healthcare colleges, and 6 cancer care radiotherapy centers, and 1 central laboratory. MPHHI was built around its Chairman Manuel V. Pangilinan’s vision of bringing quality and affordable healthcare to Filipinos all over the country.

HE stronger adoption of digital solutions is key to closing gaps in online learning, and the private sector is stepping up and taking on this crucial role, consumer advocacy group CitizenWatch Philippines said in a statement. “The pandemic caused an abrupt shift to online learning for which our educators and learners were not prepared,” said lawyer Tim Abejo, CitizenWatch Philippines co-convenor. “A year and a half later, the online mode has exposed many flaws in our education system and has resulted in a learning crisis.” He cited the closing of schools, the unprecedented dropout rate and the low level of student engagement as some of the manifestations of this crisis, stemming from an uneven access to stable internet connectivity across the country. Abejo believes that the private sector should lead the push for these digital solutions to benefit as many learners as possible. “There are many examples of such initiatives which should be encouraged and even incentivized to boost continuous learning through extensive integration of the K12 curriculum to reliable online learning platforms,” he said. “These learning platforms supplement the modules already given by teachers to their students such that they can spend their free time while still enriching their minds,” Abejo said. Meanwhile, key public officials expressed their support for the GoLearn program of the DepED in partnership with Globe Telecom. Senator Joel “Tesdaman” Villanueva,

chairman of the Senate Committee on Labor, Employment, and Human Resources Development, and of the Committee on Higher, Technical and Vocational Education said, “GoLearn is a digital solution to widen the access to training. With it, learning is at students’ fingertips; it is very convenient.” In a recent statement on the DepED budget, he stressed the government’s failure to invest in digital infrastructure that would have aided the DepEd’s blended learning program amid the COVID-19 pandemic. Tonisito C. Umali, Undersecretary of Legislative Affairs, External Partnerships and Project Management Service of the Department of Education said the GoLearn platform will help provide connectivity, learning platforms and learning management systems. “All of these supplement what we are already doing in the department in closing the learning gap.” Ayala Corporation chairman Jaime Augusto Zobel de Ayala emphasized his group’s commitment to help the education sector through digital solutions and specifically through GoLearn. He said the GoLearn program provides enabling solutions that propel the education sector to progressive digital learning. “Pandemic or not, quality education is a right and must be made available to all,” said Abejo. “The private sector must provide support to the government in ensuring that every Filipino gets a fighting chance and that no learner is left behind.”

Celebrating women on and beyond their achievements

2021 empowered women, clockwise from left: Angelita Sievert Fernandez, Emily Miralles – Arangote, PHD., Dr. Pauline Convocar, Meri Ann Geli Bulaong, Yvette Punzalan, Chef Regina Aspiras, Michelle Krystle Dy Ong, and Maria Carolina Rodriguez- Dawonlay.

N July 29, eight Filipinas who have made a mark in their professional careers and uplifted various communities were recognized as Bravo Awardees by Zonta Club of Makati and Security Bank. On top of the recognition, Security Bank gave every awardee a P50,000 grant for their respective advocacies. The Bravo Awards is a biennial event that started in 2015, as a partnership between Security Bank Corporation, Zonta Club of Makati, and Environs. The awardees’ journeys inspired everyone. Each of them shared their stories of grit and passion as they revealed the challenges they have overcome in their careers and causes. Kythe Foundation is an NGO that strives to improve the quality of life of cancer-stricken children in the country and the work does not come easy. “The biggest challenge is the establishment of child life services in partner hospitals. It’s really a struggle to place and institutionalize these programs in hospitals,” says Child Life Program Manager and Awardee for Social Services, Dr. Angelita Sievert-Fernandez. Maria Carolina Rodriguez-Dawonlay, a cultural worker and the Awardee for Arts, Culture, & Heritage, shared how the COVID-19 pandemic has led some abuse victims into unsafe situations. “Gender-based violence has been

present in our society and is now increasing. Those who have the connection can adjust, but those who don’t have the means and the technology to connect with others and to free themselves from their situation—they are really not just left behind, they are locked down in harmful practices.” Dr. Pauline Ferraris Convocar has made her mark as Surigao del Norte’s “Doctor to the Barrios”, with her presence and work being key to bringing down the infant mortality rate to zero and increasing the immunization coverage for children under five years old in the island of Socorro. The emergency medicine clinician also speaks about the various challenges in our country’s healthcare system. “Ang hirap-hirap i-trust iyong healthcare workforce na parang adjusting to the surge [of COVID-19 cases], when in fact it has always been a problem even before kasi kulang talaga iyong space, kulang talaga ang staff,” the Awardee for Science & Technology and head of the Philippine College of Emergency Medicine’s (PCEM) Section on Advocacy,stated. Despite the challenges they are facing, the Bravo Awardees still find inspiration to wake up and empower others. “Itong mga bata na ito ang rason kung bakit ako gumigising sa umaga, and they are the reason why I want to better myself,” professional MMA fighter Geli Bulaong, the Awardee for Sports and a passionate advocate

for helping the sexually abused, said. “What definitely inspires me is the students, those who cannot afford to enroll in a private school. Sila lamang ay umaasa sa state university, sa libreng tuition ng ating gobyerno,” Dr. Emily Miralles-Arangote, the Awardee for Education and President of Aklan State University, said. “Second is the NGO volunteers. They have no college degree; they don’t know what and how to teach but they have the heart to teach. My role then is to have this core group to be educated with content and strategies for teaching in handling more than 700 students.” Michelle Ong-Kho, veteran ANC news anchor and the Awardee for Media & Public Affairs, talked about the importance of the industry she belongs to. “This pandemic is not just a health crisis; it is also an information crisis which is just as bad (as the health crisis). For as long as there are people who spread knowingly or unknowingly wrong information, I think that’s why we do what we do,” she said. The Bravo Awardees also conveyed the biggest lessons they have learned from the ongoing pandemic and their advice to the future group of Awardees. “You need to have so much love and passion for work and dedication. For 13 years, I have been so much in love with my craft,” Yvette Marie Punzalan, a social entrepreneur who aims to reintegrate women into society and the Awardee for Business, shared. “The pandemic has taught us that we are resilient, we go on and move on despite what is there. What is asked of us every day is to continue to trust, and the biggest example is to just do what you can,” Regina Aspiras, a chef and the Awardee for Culinary Arts, said. The virtual awarding ceremony was held via Zoom. Hidilyn Diaz, the first Filipino athlete to win a gold medal in the Olympics after 97 years, was also recognized for her excellence in weightlifting, a sport typically dominated by men.

PRIMEWATER SAN CARLOS CITY AND SAN CARLOS CITY WATER DISTRICT (SCCWD) INKS PHASE2 OF JOINT VENTURE AGREEMENT. PRIMEWATER (PW) San Carlos City and SCCWD reaffirmed their partnership by signing the Phase 2 of their Joint Venture Agreement (JVA) to expand water services in San Carlos, Pangasinan recently. The signing signifies the rollout of various expansion projects to enhance water supply in their served areas. The said projects include pipeline developments and network improvements as well as the implementation of a surface water treatment plant which broke ground in July of this year. Present during the contract singing were (L-R): Ms. Rhoda A. Aguillon, PW Area Operations Head; Engr. Romeo M. Sabater, PW Vice President; Hon. Ayoy C. Resuello, San Carlos City Mayor; Mr. Boy G. Queñano, Jr.,SCCWD BOD Chairman, and Engr. Benjie G. Distor, SCCWD General Manager.

Breaking the falsehoods and fallacies on infertility

HE online medical forum, “The Art of Getting Pregnant, Breaking the Fallacies and Falsehoods on Infertility” appropriately addressed the incorrect notions on being infertile both for men and women. False beliefs such as blood type incompatibility, sexual positions, dance rituals and middle-aged pregnancy were discussed extensively by doctors and representatives from Merck. “A wholistic, precise examination (work-up) of infertile couples by thoroughly educated infertility doctors and gynecologists, combined with true medicine, is the best treatment for infertility,” says Dr. Eileen Manalo of the Center for Advanced Reproductive Medicine & Infertility (CARMI) in St. Luke’s Medical Center-Global City. Today, a couple having a hard time producing an offspring can now choose among a variety of proven, treatment options. Manalo says advances in modern science resulted to new infertility treatments such as drugs to induce ovulation (ovulation induction), intrauterine insemination (IUI) and advanced reproductive technology (ART) that includes In Vitro Fertilization, more popularly known as IVF. Diet and lifestyle also play an important role in preventing infertility. She says lessening intake of carbohydrates and fats can go a long way in allowing pregnancy. “The body should be in the best shape and health for it to conceive a child.” Age is also a big factor. A young female has the best chance of impregnation. While a young male can produce the best quality sperm. For his part, Dr. Virgilio Novero Jr., head of CARMI, says there are three key events necessary to allow pregnancy: Ovulation, Fertilization, and Implantation. “Any condition that interferes with these events may result in infertility,” he added.

In his presentation “Infertility and Fertility Preservation,” a snapshot of infertility incidence in the Philippines was pegged at 10%, according to a Synovate survey conducted in 2014. Factors that induce infertility for both women and men are tubal factors, ovulation disorders (such as polycystic ovarian syndrome, PCOS), endometriosis, uterine factors, and advanced age. Novero says after a year of actively trying to get pregnant but without success then it’s time to seek medical help. Filipinos normally are shy to seek medical help specially when it comes to sensitive issues like infertility or being baog. They are afraid of being ridiculed. This is more pronounced in men since being infertile is correlated to their masculinity. Some men don’t want his manhood to be questioned. It’s in their nature to listen first to friends and relatives and exhaust all possible means before going to a doctor hence the scarcity of couples seeking professional help. Novero says seeking professional help the soonest possible time is critical in the treatment process. In essence, it is necessary for doctors to understand the history, lifestyle and contributing factors of infertile people to come up with the best diagnosis and treatment. “Merck is committed in this worthwhile endeavor so that people can be aware of the dangers and pitfalls of believing in falsehoods about infertility. We want to lead society in the right direction and provide them the correct information about infertility,” says Dr. Raymond Tapang, Merck’s medical director. Aside from infertility, Merck, is also into research and development in the following medical fields: cardiovascular, endocrinology, neurology, immunology, oncology among others.

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

The World

Thailand protesters keep up fight to oust prime minister

ANGKOK—Protesters gathered Sunday in the Thai capital Bangkok, seeking to rejuvenate their movement to oust the country’s prime minister and institute political reforms. More than 1,000 people gathered peacefully at central Bangkok ’s busy Asoke intersection, while a militant faction that has made a tactic of confronting the authorities clashed with police elsewhere. Protest organizer Nattawut Saikua, a veteran activist and former deputy Cabinet minister, said the rallies at the Asoke intersection will continue every evening. The protests came a day after Prime Minister Prayuth Chanocha survived a no confidence vote in Parliament. That offered him a brief respite from widespread criticism that his government had botched its response to the pandemic by failing to secure timely and adequate supplies of Covid-19 vaccines. The protesters’ targeting of Prayuth predates any controversy over vaccines, and began last year as a pro-democracy movement. Their three core demands had been resignation of Prayuth, who initially came to power as army commander by staging a coup in 2014; amending the constitution; and reforming the monarchy to make it more accountable. The movement lost steam due

to its leaders’ arrests, Covid-19 restrictions and controversy over its critical view of the monarchy, an institution fiercely guarded by the country’s ruling elite, including the military. But Prayuth’s sinking popularity over the vaccine issue and accusations of corruption have given the protesters an opportunity to garner fresh support, even though attendance at recent rallies has failed to match those held last year, which sometimes attracted upward of 20,000 people. Sunday’s rally drew disparate groups together. They included participants in recent “car mobs” who had staged mobile protests in their vehicles; “Red Shirt” supporters of former Prime Minister Thaksin Shinawatra, who was ousted by a military coup in 2006; and progressive students with the tongue-in-cheek moniker “Bad Students,” whose focus has been education reform. Spea kers from the protest stage also included Tanat Thanakitamnuay, the heir to a real-estate fortune who had once been active on the other side of the political fence in his support of the military and the monarchy. He now is a prominent protest voice whose profile was raised last month when he suffered a major eye injury as police tried to disperse demonstrators with tear gas. AP

the minister of state for foreign trade, said in an interview, adding that free trade and openness have long made UAE a major global entrepot. “Anyone who is trying to be more conservative and trying to close their markets, the value is going to be only in the short term, but in the long term, they’re harming their economies.” Friction has grown between the UAE and its heavyweight neighbor Saudi Arabia, which has taken a different strategy under the young and brash Crown Prince Mohammed bin Salman. In a push to prepare for a post-oil future, the Saudi government has announced billions of dollars of investments in far-flung tourist projects and tried to diminish the role of expats to get more Saudis working in the private sector. Buried within the raft of the UAE’s flashy economic development initiatives on Sunday was a far more practical—and drastic—change to the country’s visa system that governs the legions of foreign workers from Africa, the Middle East and elsewhere who power the country’s economy. Since the UAE’s independence,

ew Zealand Prime Minister Jacinda Ardern lifted a nationwide lockdown outside largest city Auckland but said it is too soon to declare victory over a Delta coronavirus outbreak. Three weeks after it went into lockdown, the country will move to Alert Level 2 at midnight Tuesday, allowing people to return to work and school, Ardern told a news conference Monday in Wellington. But Auckland, the epicenter of the outbreak, will remain at Level 4—the highest level of restrictions—for at least one more week, she said. “Moving to Level 2 is progress and it is positive, but it comes with a warning,” Ardern said. “The job is not done. We’re within sight of elimination but we cannot drop the ball.” New Zealand appears on track to once again eliminate Covid-19 from the community after the lockdown reduced new case numbers to just 20 a day. If it succeeds,

it will be a rare victory over the highly infectious Delta strain of the virus. In neighboring Australia, state governments in New South Wales and Victoria have conceded they no longer expect to eliminate Delta as case numbers continue to grow despite prolonged lockdowns. Ardern said caution is still warranted, and Level 2 restrictions have been tightened to reflect the risks associated with Delta. New Zealanders will need to wear masks in most public venues at Level 2, and there will be a limit of 50 people for indoor gatherings including hospitality settings. Outdoor gatherings will be limited to 100, and all attendees must be recorded to help with contact tracing if needed.

the state has tied employment to residency status, lending employers outsized power and forcing people to immediately leave the country if they lose their jobs. “We want to rebuild the whole system...so that the residency system is attracting people and making sure they feel the UAE is home for them,” al-Zeyoudi said. “Openness is something which we’re proud of.” The new plans give residents an additional three months to seek other jobs after being fired, allow parents to sponsor their children’s visas until the age of 25, and ease visa restrictions on freelancers, widows and divorced people, among other things. It’s a subtle shift from the Gulf Arab state’s traditional way of treating its vast foreign labor force as an expendable underclass. Ministers a lso said they sought to double the UAE’s economy in the next decade through major trade agreements w ith cou nt r ie s i nc lud i n g Tu r k e y, the United Kingdom and India, as well as Israel after a recent breakthrough deal to normalize relations.

The new projects come as the UAE reels from the economic shock of the pandemic, which triggered the collapse of oil prices and crucial tourism markets when lockdowns strangled business and authorities cut spending. The country’s economy shrank over 6 percent last year, according to government data, with credit agencies estimating that the tourist hub of Dubai saw an even sharper decline of 11 percent. As the virus wrought havoc, with layoffs rippling across the economy and prompting an exodus of foreign workers, authorities last year introduced a series of reforms to draw more people and capital. The UAE offered wealthier expats the chance to retire in Dubai, rolled out a 10-year “golden visa” to professionals and their families, and passed a new law to allow 100 percent foreign ownership of companies outside economic free zones. Although such dramatic announcements have become common in the federation of seven sheik hdoms, the gover nment has offered few details about how and when it will deliver on its promises. AP

Taliban stop planes of evacuees from leaving but unclear why

ABUL, Afghanistan—At least four planes chartered to evacuate several hundred people seeking to escape the Taliban’s takeover of Afghanistan have been unable to leave the country for days, officials said Sunday, with conflicting accounts emerging about why the flights weren’t able to take off as pressure ramps up on the United States to help those left behind to flee. An Afghan official at the airport in the northern city of Mazare-Sharif said that the would-be passengers were Afghans, many of whom did not have passports or visas, and thus were unable to leave the country. He said they had left the airport while the situation was sorted out. The top Republican on the US House Foreign Affairs Committee, however, said that the group

included Americans and they were sitting on the planes, but the Taliban were not letting them take off, effectively “holding them hostage.” He did not say where that information came from. It was not immediately possible to reconcile the accounts. The final days of America’s 20-year war in Afghanistan were marked by a harrowing airlift at Kabul’s airport to evacuate tens of thousands of people—Americans and their allies—who feared what the future would hold, given the Taliban’s history of repression, particularly of women. When the last troops pulled out on August 30, though, many were left behind. The US promised to continue working with the new Taliban rulers to get those who want to leave out, and the militants pledged to allow anyone with the proper le-

New Zealand PM lifts national lockdown outside of Auckland

UAE announces plan to invest in economy, liberalize laws UBAI, United Arab Emirates—The United Arab Emirates announced on Sunday a major plan to stimulate its economy and liberalize stringent residency rules for foreigners, as the country seeks to overhaul its finances and attract visitors and investment. The nation’s plan to lure foreign talent over the next decades ref lects an emerging contrast with the other sheikhdoms of the Persian Gulf that are growing increasingly protectionist as they try to diversify their oil-bound economies. Now marking its 50th anniversary, the UAE is seeking to accelerate its economic and social reforms to rebrand for a postpandemic future. Portraying the country as a liberal, bustling trade and finance hub, the government promised to pour $13.6 billion into the economy in the next year and $150 billion by 2030. Specific projects have yet to be announced, but $1.36 billion has been earmarked for Emirates Development Bank to support the industrial sector. “We are building the new 50 years’ economy,” Thani al-Zeyoudi,

Tuesday, September 7, 2021

gal documents to leave. But Rep. Michael McCaul of Texas told “Fox News Sunday” that American citizens and Afghan interpreters were being kept on six planes. “The Taliban will not let them leave the airport,” he said, adding that he’s worried “they’re going to demand more and more, whether it be cash or legitimacy as the government of Afghanistan.” He did not offer more details. The Afghan official, who spoke on condition of anonymity because of the sensitivity of the subject, said it was four planes, and their intended passengers were staying at hotels while authorities worked out whether they might be able to leave the country. The sticking point, he indicated, is that many did not have the right travel papers. Residents of Mazar-e-Sharif

also said the passengers were no longer at the air port. At least 10 families were seen at a local hotel waiting, they said, for a decision on their fates. None of them had passports or visas but said they had worked for companies allied with the US or German militar y. Others were seen at restaurants. The State Department has no reliable way to confirm information about such charter flights, including how many American citizens might be on them, since it no longer has people on the ground, according to a US official. But the department will hold the Taliban to their pledges to let people travel freely, said the official, who spoke on condition of anonymity because they were not authorized to speak publicly on the matter. AP

New Zealand Prime Minister Jacinda Ardern lifted a nationwide lockdown but said Auckland, the epicenter of the outbreak, will remain at Level 4—the highest level of restrictions—for at least one more week. Bloomberg photo

Ardern put the countr y into lockdown last month after just one infection had been discovered in t he communit y. T he outbreak has since grown to a total of 821 cases, of which 704 remain active. The vast majority are in Auckland, which continues to record new cases each day. A border around Auck land will be policed to ensure those traveling to and from the city for

essential work don’t spread the virus to other regions. “Our case numbers at present are coming down but we continue to see persistent cases attached to the current outbreak,” Ardern said. “Some of this is to be expected as we see close contacts and family members test positive, but some of these are still what we call unlinked or mystery cases. That’s a cause for concern.” Bloomberg News

Coup leader asks Guinea army to back him, suspends constitution

unit of Guinea’s military seized power and suspended the constitution, destabilizing a key source of the raw material used to make aluminum. The head of special forces in the West African nation, Colonel Mamady Doumbouya, announced the takeover on state television on Sunday, imposed a curfew of 8 p.m. local time and urged the armed forces to back him. The action was taken to address financial mismanagement and corruption in Guinea under President Alpha Conde, he said, adding that the deposed leader is safe and has been in contact with his doctors. “If you see the condition of our roads, of our hospitals, you realize that it is time for us to wake up,” Doumbouya said. “We are going to initiate a national consultation to open an inclusive and peaceful transition.” Guinea vies with Australia as China’s largest supplier of bauxite, which is used to make alumina and eventually aluminum. The country shipped 82.4 million tons of the mineral globally last year, according to government data. Much of that went to China, which is the world’s biggest aluminum-consuming country. Aluminium prices on the London Metal Exchange rose as much as 1.8 percent to $2,775.50 a ton, the highest since May 2011, before trading at $2,749. In China, futures jumped as much as 3.4 percent to the highest since 2006. Chinese aluminum stocks also rallied, with Aluminum Corp. of China shares up as much as 10 percent in Hong Kong. The military takeover “might have a speculative impact on the price of aluminum but will have a bigger impact on the alumina price because it’s more immediately exposed to the event,” said Tom Price, head of commodities strategy at Liberum Capital Ltd. “It’s an event which will create a new risk of security to supply.” Aluminum has jumped about 50 percent over the past year in London and is near the highest in a decade. Prices have rallied as a global economic recovery from the effects of the pandemic and Chinese output restrictions stoked demand. The energy-in-

tensive aluminum industry has been targeted in China as the government seeks to conserve electricity and curb emissions, while a seasonal power crunch has also dented production. Companies including United Co. Rusal have invested heavily to extract Guinea’s abundant iron-ore and bauxite reserves. Rio Tinto Group, the world’s largest miner, has been looking at ways to exploit Simandou, the biggest undeveloped iron-ore deposit. Johannesburg-based AngloGold Ashanti Ltd. owns the Siguiri gold mine in Guinea, its only asset in the country. Rusal’s spokesman declined to comment on the military takeover, but said it could have an impact on output. Guinea accounted for about 9 percent of the alumina produced by Rusal in the first half of 2021, according to the company. The US State Department condemned the coup and called for a peaceful national dialogue to “enable a peaceful and democratic way forward for Guinea to realize its full potential.” United Nations Secretary-General Antonio Guterres also blasted the military takeover. Leaders of two African blocs have pushed for the release of Guinea’s president. Leaders of the Economic Community of West African States also threatened sanctions against Guinea, Chairman Nana Akufo-Addo said in a statement. The regional political and economic body “condemns with the greatest firmness, and also demands a return to constitutional order,” Akufo-Addo, who’s also Ghana’s president, added. The African Union also called for its Peace and Security Council to meet urgently over the matter. Doumbouya’s TV appearance bore a resemblance to a similar scene in August 2020, when a Malian junta removed President Ibrahim Keita after blaming him for the country’s socioeconomic problems. And in April, Chad’s army seized power after the death of President Idriss Deby. The military takeover in Guinea on Sunday came hours after heavy gunfire erupted near the presidential palace in the capital, Conakry, in the morning. Bloomberg News

Sports

FERNANDEZ STUNS KERBER

BusinessMirror

EW YORK—Leylah Fernandez is a selfdescribed “happy-go-lucky girl” having the time of her life at Flushing Meadows, raising her fists, pumping her arms and riling up crowds while beating two past US Open champions to reach her first Grand Slam quarterfinal. A day before her 19th birthday, the unseeded left-hander from Canada grabbed the last five games to eliminate 2016 title winner Angelique Kerber, 4-6, 7-6 (5), 6-2, on Sunday, demonstrating that an earlier upset of defending champion Naomi Osaka was certainly no fluke. With grit and guile, plus a veteran’s poise in the face of big deficits against much more accomplished opponents, Fernandez is displaying strokes and a demeanor that left Kerber offering this assessment: “She can go really far in the next few years.” How about over the next week? There’s no time like the present for the teens in tennis: Also into the quarterfinals with a win Sunday was Carlos Alcaraz, an 18-yearold from Spain who became the youngest man to get that far at the US Open since 1963 by outlasting his 32-year-old foe, 141st-ranked qualifier Peter Gojowczyk of Germany, 5-7, 6-1, 5-7, 6-2, 6-0. Alcaraz now plays No. 12 seed Felix Auger-Aliassime, a 21-yearold from Canada who reached his second straight major quarterfinal by defeating Frances Tiafoe of the US, 4-6, 6-2, 7-6 (6), 6-4, with the help of 24 aces. “At some point, age is just a number,” AugerAliassime when asked about Alcaraz. “He already feels like a player that is established.” The 55thranked Alcaraz got past No. 3 Stefanos Tsitsipas in his previous match and is the youngest player with two five-set Grand Slam wins in a row since Michael Chang was 16 at the 1988 US Open. There’s yet another 18-year-old in fourthround action Monday: Emma Raducanu of Britain, who plays Shelby Rogers of the US. Ask Fernandez for the secret to her success, and she repeatedly mentions two factors. One is being sure to enjoy her time on court. The other is support of family, because her father, who is from Ecuador, her mother, who is Filipino Canadian, and her sisters “have definitely kept the joy for me. AP

By Josef Ramos

ACCINATION—herd or full—would be the key to bringing sports back in action—complete with fans—amid the Covid-19 pandemic, according to sports medicine expert Dr. Jose Raul Canlas. Canlas, taking the Philippine Basketball Association (PBA) as a case in point, said the pro league could hit its target of two conferences in its 46th season “without further setback.” “The anti-Covid-19 vaccines has become the pro league’s protection to control the spread of the mutating virus around its surroundings,” Canlas, one of the PBA’s medical advisers, said. “What the PBA is doing is living and functioning with the virus around. Nearly everyone is vaccinated so it makes the activity safer.” Canlas said that flattening the curve is not the only way for other sports leagues, particularly in the collegiate level, to return. “The PBA is successful in having vaccinations. Public health-wise, I think NCR [National Capital

| Tuesday, September 7, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

GO SPORTS? GET JABBED

–DR. CANLAS MARCIAL

CANLAS

Region] is in a good place,” he said. “Hopefully, we can get college students vaccinated so we can hold sports bubbles at the collegiate level.” “The NBA [National Basketball Association], MLB [Major League Baseball], among others, are living

with the virus because they can enforce vaccinations in a way,” Canlas added. The PBA family is composed of 350 individuals—players, coaches, referees, officials and staff—who are almost 100 perfent vaccinated. Whether it’s pure bubble or the semi-bubble, Canlas said the show would definitely go on because of the developing immunity brought about by the vaccines. “I don’t think zero Covid-19 is practical for a population that is relatively controlled and has the resources for multiple testing and treatment,” he said. “It’s very different

PSC all praises for PHL Paralympians

HILIPPINE Sports Commission (PSC) Chairman William “Butch” Ramirez and commissioners thanked the six Filipino para athletes, coaches, officials and support staff after the delegation wrapped up its Tokyo Paralympic Games campaign on Sunday. “They were exceptional and dedicated Paralympians caught in a pandemic. Despite this, they carried the flag with pride and honor,” PSC Chairman Ramirez said. “They played against the best Paralympians in the world. To qualify and participate in the Paralympics is

a great honor in itself.” Days before Team Philippines left for Tokyo, some officials and athletes tested positive for Covid-19, including para powerlifter Achelle Guion, para taekwondo jin Allain Ganapin and para discus thrower Jeanette Aceveda. Despite the unending challenges and obstacles faced by our delegation, the three remaining Paralympians—Jerrold Mangliwan im para athletics and Ernie Gawilan and Gary Bejino in para swimming—stood proud and fought well against champions from their respective sports. Mangliwan advanced to the finals of his three events. He placed fifth and set a new personal best in the

men’s 400m T52 and also broke his own best time in the men’s 1500m T52. Gawilan placed sixth in the men’s 400m freestyle S7 and became the first Filipino para swimmer to advance to the Paralympics finals. Bejino, on the other hand, also showed great potential come the 2024 Paris Games despite being a first-timer in the quadrennial meet. “In spite of what happened, we take pride in these rare Filipino Paralympians. They inspire the country with their achievement,” Ramirez said. “They are our new heroes today who in spite of their conditions fought well.” The sports agency chief also

from a public health situation. You make it sound trivial when you say ‘show.’ I believe eventually all other activities will follow this route as vaccinations increase.” The PBA Philippine Cup encountered at least two postponed matches because of violations in health and safety protocols at the Don Honorio Ventura State University Gym in Bacolor, Pampanga. But as far as PBA Commissioner Willie Marcial is concerned, there’s no reason to be alarmed. “As far as Dr. Canlas is concerned, it’s not alarming as of now. I told the team managers that—but we have to be more careful,” Marcial told BusinessMirror, adding that the league would do “whatever it takes to fight the pandemic for the sake of the basketball-loving Filipino fans.” “We just have to fight the pandemic by following the proper protocols,” he said. The league resumed its season last Wednesday in Pampanga after almost a month break because of rising cases of infection in the NCR. Pampanga is under a less strict modified general community quarantine. noted that in the face of the pandemic, the PSC managed to respond to the concerns of our para athletes. On August 12, Ramirez announced that each of the para athletes, coaches and officials will receive P100,000 in additional travel allowance for the Games. With the advancement of para sports, Ramirez is calling for transformation and further development of talent identification for para athletes. “Together with the Philippine Paralympic Committee, we hope to find training venues for our paraathletes in the national pool,” he said. “The sacrifices and resiliency of these para-athletes are beyond compare. We will support them in any way we can.”

Cebu Pacific gives Filipino para athletes free flights

EBU Pacific will honor the Philippine delegation to the Tokyo 2020 Paralympics after they poured out all their efforts and made Filipinos proud. To show our appreciation, Cebu Pacific will award four athletes of the Paralympic team with free flights, which they may

share with their respective teams and support systems. They are Ernie Gawilan and Gary Bejino of para swimming, Jerrold Mangliwan of para athletics and Allain Ganapin of para taekwondo. “Our Paralympic delegation did their best and have proven that they deserve to fly. We recognize their efforts and are grateful to them for representing our country loud and proud— this is why we want them and their loved ones to enjoy free flights from us,” said Candice Iyog,

Gawilan and co. in forum

LEYLAH FERNANDEZ is on a roll against the big guns at the US Open. TROI SANTOS

JUNNA TSUKII is on her way to making a name in next year’s Asian Games.

OUR para athletes who competed in the Tokyo Paralympics are gracing the virtual Philippine Sportswriters Association (PSA) Forum on Tuesday to share their experience during

Beating the devil CHRISTY MARTIN—former boxing world champion, Nevada Boxing Hall of Famer and International Boxing Hall of Famer—beat the devil in her Netflix documentary “Untold: Deal with the Devil.” Who or what was the devil in her life? Was it Jim Martin, her former husband who abused her, stabbed her and shot her to be left for dead. Was it the critics who bombarded her with negativity because she was

the two-week quadrennial Games. Appearing in the public sports program are athletes Ernie Gawilan, Gary Bejino and Jerrold Mangliwan and Coach Tony Ong. The Tokyo Paralympics was held from August 21 to September 5. Joining the Filipino Paralympians during the first part of the session that starts at 10 a.m. are Junior Asian Karting Open Championship winner Bianca Bustamante and manager Daryl

questioning the sexuality of her opponents? Was it the men who looked at her the first time she entered a boxing gym to train and workout to prepare for a fight? It was all three and more. I was starstruck when and while I was conversing with her along with colleagues, professional boxer Rica Aquino and veteran sports journalist Brian Yalung. I watched her story on Saturday as part of my preparation for my interview with her the following day. She was amiable, personable and very down to earth which, I’d like to think, is still prevalent among retired professional athletes who make it to their sport’s hall of fame. Her going through a lot in her life is an understatement. A lesser woman, or a human being for that matter, would’ve thrown in the towel (no pun intended). Martin established “Christy’s Champs” which, according to their website, christymartinpromotions. com, “Christy’s Champs is a growing movement of leaders who work to ensure those who suffer emotional and physical abuse in their families have an outlet to receive the education and support that they need to report, share and overcome violence and live a life free of threats, blackmail, shame and fear.”

Vice President for Marketing and Customer Experience at Cebu Pacific. Each member of the Philippine delegation will receive 25 flights for free to commemorate the airline’s 25 years of enabling everyone to fly. The tickets may be used for any domestic and international short haul destination in the Cebu Pacific network. “We stay true to our values that Cebu Pacific exists for every Juan—with or without a medal, with us, no Juan gets left behind,” Iyog said.

O’ Young. They will discuss their coming stint in the Pro Formula Racing to be held in France next month. Presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant, and the Philippine Amusement and Gaming Corp., the Forum is powered by Smart with Upstream Media as official webcast partner. The weekly program is being livestreamed via the PSA Facebook page fb.com/PhilippineSportswri tersAssociation and also officially shared by Radyo Pilipinas 2 Facebook page. Abuse comes in different forms, psychological, emotional, sexual and physical. Christy has made domestic abuse an advocacy of hers and it is something she doesn’t wish upon even on her worst enemy, maybe not even Jim, but that’s for another conversation. I forgot to ask Christy if most boxers are so stubborn not to adjust or adapt to the opponent their fighting, like when she fought the woman she eventually married, two-time boxing world champion Lisa Holewyne. Martin worked on her footwork, she stuck and moved and stayed away from the corners and the ropes and kept the fight in the middle of the ring. She also used her quickness and counters to negate her height and strength disadvantage against Lisa. These days, Christy Martin the Champion and Hall of Famer is now Christy Martin the promoter and manager. Working with Don King all those years has given her a ringside view on promoting big fights and big name boxers. She and Lisa are happy and contented to give back to the sport that’s given them so much. I think if Christy Martin were either a basketball coach or a boxing coach or trainer, her players and boxers would run through a wall for her, and if I were one of her players and boxers, I would too.

Tsukii snatches gold in Egypt karate league

ILIPINO-JAPANESE Junna Tsukii showed that she’s well on her way to burying a failed bid to qualify for the Tokyo Olympics by winning a gold medal in the Karate1 Premier League at the Cairo International Stadium in Nasr City, Egypt, on Sunday evening. Tsukii brought down hometown bet Areeg Rashed, 2-1, to rule the women’s -50 kgs class and send a statement that she’s in business to try all over again to make the grade in the Paris 2024 Olympics. The 29-year-old Tsukii, a 2019 Southeast Asian Games gold medalist, broke a 1-1 score with a flurry of victory-clinching punches in the final six seconds of her event’s final in the tournament sanctioned by the World Karate Federation. Karate Pilipinas President Ricky Lim said that he expects Tsukii to be stronger than ever after her disappointment at the Karate Olympic Qualification in Paris, France, in June. “We know she’s [Tsukii] going to win because of the setback in the last Olympic qualifying. She’s set to bounce back and regain her title,” Lim told BusinessMirror on Monday. Lim added that Tsukii is focused on winning gold at the Asian Games in Hangzhou (China) is hosting from September 10 to 25. Before reaching the finals, Tsukii blasted Aleksandra Grujic of Austria in the first round, beat Venezuela’s Yorgelis Salazar in the quarterfinals and defeated Ahmed Saleema of Egypt in the semifinals. It was Tsukii’s third gold medal this year after prevailing in a tournament in Lisbon, Portugal, in May and at the Golden Belt Tournament in Cacak, Serbia, last month. She was eliminated in the round of 32 of the Paris qualifiers, where she bowed to Bulgaria’s Ivet Goronova, 1-2. Josef Ramos

EJ clinches silver in Poland meet

RNEST JOHN “EJ” OBIENA cleared 5.80 meters to share the silver medal with American KC Lightfoot on Sunday in the Kamila Skolimowska Memorial Pole Vault Competition in Chorzów, Poland. Obiena attempted twice for 5.80m and made it. He tried 5.86m but missed. Chris Nilsen won the gold medal with a 5.86-meter performance, while Australian Kurtis Marschall finished outside the podium with 5.70m. The silver made up for Obiena’s 10th-place finish in last Friday’s Wanda Diamond League leg in Brussels, Belgium, where he did 5.65m. Despite the silver, the 25-year-old 2019 Southeast Asian Games gold medalist still qualified for the final leg of the Diamond League set on September 8 and 9 in Zurich, Switzerland. Tokyo Olympics gold medalist Armand Duplantis is competing in Zurich. Obiena had a forgettable Olympic debut last August 3 in Tokyo after placing 11th among 12 participants with a 5.70-meter effort. Obiena returned to competition after his Tokyo stint and reset the Philippine record with a 5.91-meter silver medal-clinching effort at the Wanda Diamond League leg at the Stade Charlety in Paris, France. He shattered his own 5.87-meter national record he set last June in Poland. Josef Ramos