BusinessMirror September 28, 2023

‘Govt spending will boost GDP growth in Q3’

IMPROVED government spending may drive the country’s GDP growth to as much as 5.2 percent in the third quarter, according to a local think tank.

In its latest Market Call report, the First Metro Investment Corporation-University of Asia and the Pacific (FMIC-UA&P) Capital Market Research said GDP growth in the third quarter may reach 5 percent to 5.2 percent.

“We still see sufficient strength in the economy to get a 5.0-5.2 percent YoY [year-on-year] Q3 GDP growth, while the acceleration of the above sectors plus consumer spending should bring back Q4 growth above 6 percent,” the local

think tank said. According to FMIC-UA&P, elevated national government spending in the third quarter should provide the stimulus for the third quarter, as the think tank expects a “strong rebound in employment and consumer spending starting September.” It added that the industry sector expansion will be “broad-based,” although manufacturing will take the lead.

“ e Services sector should see domestic and foreign tourism drive Trade, Transportation and Storage, and Accommodations and Food Services starting September,” the think tank said.

With this, FMIC-UA&P said it still sees full year GDP growth at a “respectable” 5.5 percent despite

the global slowdown. Last month, the think tank noted that spending from the national government would pave the way for a rebound in the second semester.

Slowing infl ation would encourage more household consumption which would also boost GDP growth.

However, Oxford Economics said last Monday that based on its trackers, the country’s GDP growth may slow to a range of 4 to 5 percent in the third quarter.

e think tank said the data from its trackers is near Oxford Economics’ own growth forecast of 4.3 percent for the period.

“ e Philippines and Indonesia are Asean’s two more domestically focused economies and the

two where policy rates have been hiked well above the neutral rate. Our trackers suggest the impact on growth of tight policy continues to be more severe in the former than the latter,” Oxford Economics said.

While the Philippine economy’s growth on a quarter-on-quarter basis may represent a reversal from the contraction posted in the second quarter, the impact of high interest rates may extend beyond the third quarter, the think tank said.

“We think it will struggle to regain much more momentum, as the lagged impact of monetary tightening weighs further,” Oxford Economics said. (Full story here: https://businessmirror.com. ph/2023/09/26/q3-growth-toslow-on-bsps-tight-policy/).

MANILA’S RETAIL BOND OFFER YIELDS $611.2M

House okays budget bill, some CIFs realigned

e initial auction for the state’s second RDB offering last Wednesday, the fi rst under the Marcos Jr. administration, fetched a total of $636.2 million bids from investors, according to data from the Bureau of the Treasury (BTr). However, the Treasury only accepted $611.2 million, or about 96 percent of the initial total tender as yields averaged 5.509 percent, slightly higher than the 5.32-per-

cent secondary market benchmark rate.

e 5.5-year RDB tender by the Treasury set a coupon rate of 5.75 percent while investors’ asking rates ranged from 5 percent to 5.75 percent.

e auction for the RDB, which will mature by 2029, would run until October 6 with issuance date

HE House of Representatives went on a congressional break on Wednesday with the nal approval of the proposed P5.768trillion General Appropriations Act and all 20 priority bills of the Legislative-Executive Development Advisory Council (Ledac).

Speaker Ferdinand Martin Romualdez said the approval of the 2024 national budget reects the House’s commitment to the welfare of Filipinos and their enduring pursuit of a more prosperous and equitable nation.

MARINE

SCIENTISTS

MARINE scientists dedicated to research about the marine ecosystem in the South China Sea are direly needed to protect the depleting coral reefs and sheries in the area.

Deo Florence Onda, microbial oceanographer from UP Marine Science Institute, said the South China Sea face environmental threats that a ect not only the Philippines but the entire Indo-Paci c region.

BADLY NEEDED FOR S. CHINA SEA

Aside from the usual threats such as oil spills, poaching and coral harvesting, other emerging threats include the arti cial island building of China, water pollution brought by plastics and sewage disposal from vessels of military and militias, and climate change.

“The environmental protection of the South China Sea—because of the innate interconnectivity of the habitats—is a shared problem.... The only way to do that

S “B,” A S

“When we passed the 2024 [national budget], our goal was to give comfort to the lives of our people. I am con dent that the budget we passed will not only help to improve the condition of Filipinos. This is also the key to our continuous rise towards a better future,” the Speaker said in his speech before adjourning Romualdez said the budgeting process was marked by rigorous discussions, particularly on con dential and intelligence funds, which the House scrutinized well to ensure accountability and responsible use. “We underscored the need for agencies to abide by the strict accounting and auditing rules governing the handling and release of such funds and emphasized the need to safeguard their e cient and responsible utilization,” Romualdez said.

“As a result, the House was able to assess and evaluate the nature and use of these funds, correct any mix-ups, and allay public concerns regarding this issue,” he added.

CIF realignment

APPROPRIATIONS committee chairman Elizaldy Co con rmed that the chamber will realign the con dential and intelligence funds (CIF) of certain civilian agencies, including the O ce of the Vice President and Department of Education, to augment the budgets of intelligence and security forces addressing escalating threats in the West Philippine Sea.

“The country’s safety and security are of paramount importance. To protect our territorial integrity from external threats, Congress is giving top priority to agencies directly in charge of protecting the country’s safety and securing its borders,” he said.

Following the unanimous decision of all party heads in the House of Representatives, Co said they will augment funding for the National Intelligence Coordinating Agency (Nica), the National Security Council (NSC), the Philippine Coast Guard (PCG), and the Bureau of Fisheries and Aquatic Resources (BFAR).

“As discussed, we will realign the condential funds of various civilian agencies. Now is the time to give our intelligence community

@jearcalas

THE national government has raised $611.2 million from its latest retail dollar bond (RDB) offering, three times higher than its minimum target of $200 million.

Bond...

scheduled on October 11, according to the Treasury’s notice.

The Treasury said the selling agents for the RDB are BDO Capital and Investment Corp., Bank of the Philippine Islands, China Banking Corp., Development Bank of the Philippines, and First Metro Investment Corp. The other agents are also Hongkong and Shanghai Banking Corp. Ltd., Metropolitan Bank & Trust Company, Philippine National Bank, Security Bank Corp., Land Bank of the Philippines and Union Bank of the Philippines.

Finance o cials said the national government is targeting to raise at least $1 billion from the second round of RDBs to be o ered by the country.

In its maiden sale of RDBs in October 2021, the Philippines raised a total of $1.593 billion, almost four times bigger than its initial target amount.

Michael L. Ricafort, Chief Economist at Rizal Banking Commercial Corp., had said the rates for the RDBs could settle at around 5.2 percent to 5.5 percent in line with the prevailing rates of bonds with nearly similar maturity dates as the RDBs.

Ricafort is optimistic that the RDBs would be met with “strong demand” as the minimal investment requirement with “higher interest rates” would be “attractive” to retail investors.

Interested investors can purchase the RDBs at a minimum amount of $200 in increments of $100.

The RDBs would also be tax-free as the national government would shoulder the taxation involved in the issuance of the debt papers. The RDBs will also yield quarterly coupon dividends.

Revenues of local IT-BPM sector for ’23 may exceed target—exec

ippines.” Another factor that would drive the growth of the country’s IT-BPM industry this year is the “persistent” talent gap in North America for IT-BPM services which IBPAP said “has driven companies to look beyond their borders for skilled professionals.”

e fl agship organization of the IT-BPM industry said “strong government support” will boost its performance.

probably is through research,” Onda said during the forum organized by independent advisory and consultancy group Stratbase ADR Institute for Strategic and International Studies.

During the International ITBPM Summit held in Pasay City last Wednesday, the IBPAP chief said the target is 8.8 percent higher than the previous year’s revenues of $32.5 billion. If the said target would be reached by the end of the year, Madrid said the industry would account for 8.4 percent of the country’s GDP, compared to just 7 percent last year.

He also said the 8.8-percent revenue growth would exceed the global average of 7.7 percent.

In a statement on Wednesday, IBPAP cited the factors that would propel the growth of the IT-BPM industry. Among the growth drivers, it noted, is the “Philippine Advantage,” saying that “US companies are increasingly redirecting work offshore and they are showing a clear preference for the Phil-

“ e Philippine government has played a crucial role in this growth story by instituting supportive remote and hybrid work policies. ese policies have not only helped companies adapt to the changing work landscape but have also attracted foreign investments,” IBPAP said.

With this, Madrid said, “Our outlook for 2023 is bright—in fact, better than we initially projected—and we are committed to sustaining this trajectory of impactful and positive growth throughout the coming years.”

Meanwhile, the IBPAP chief

provided updates on the progress of the industry progress to Roadmap 2028. Madrid reported that from the start of 2022 until the end of 2023, the industry expects to add 257,000 full-time employees (FTEs) to its headcount or 23 percent of the 1.1 million target additional jobs by 2028.

In terms of revenues, he said the industry is expecting to generate $5.9 billion or 20 percent of the $29.5 billion target additional revenues by 2028.

According to IBPAP, this growth is mirrored in how countryside development has remained “robust.”

In fact, the industry group said, “Based on the latest industry data, the majority of companies have expressed a strong and enduring commitment to expansion through more locations outside Metro Manila.”

Locations such as Cebu, Davao City, Iloilo, Clark, and Cagayan de Oro “consistently” top the list of favored destinations in the countryside, it added.

However, there are only a few Filipino marine scientists compared to other countries claiming the South China Sea. According to the UP-MSI, there are 541 Filipino marine scientists researching 36,289 kilometers of coastline, the fth longest in the world.

Worst, there is now a “growing trend” of marine scienti c researches being done by other countries within the Philippine EEZ, Onda added. Commodore Jay Tarriela, spokesperson for the West Philippine Sea, lamented that while the Philippine Coast Guard and the Philippine Navy personnel were able to document the coral reefs in the West Philippine Sea, they lack scienti c capabilities and expertise to analyze the extent of the destruction.

Recently, the AFP and PCG released shocking videos of the destruction of coral reefs in the Rozul Reef and Escoda Shoal, which are within the Philippines’s maritime zone.

It said traders, who imported rice at higher

price levels, will just continue to sell their old stocks and “possibly classify them as premium rice that command higher prices.”

The DA also cautioned that the “announcement” of lower rice tari s “could drive” global rice prices to further rise, which would “negate” the “supposed gains from the tari reduction.”

The agency maintained that the Philippines and other countries have su cient rice stocks.

The DA said its “expected” milled rice output this year of 13.1 MMT together with imported rice would bring the total grain supply to 17.4 MMT.

Rice stock by the end of the year is expected to reach 2.58 MMT which would be enough to cover 69 days of the country’s consumption requirement.

The Department of Agriculture added that based on outstanding sanitary and phytosanitary import clearance (SPSICs) issued for rice imports as of mid-September, at least 1.83 MMT of rice “remains valid to arrive in the last quarter.”

“Even if only 50 percent of this volume gets into the country by November, the ending

stocks will increase to 3.5 [MMT], adding 25 days more to the 69 days of bu er stocks,” it said.

The DA also said the proposed tari reduction is “ill-timed” since the country’s main harvest season has already started and lower tari rates would “jeopardize” the farmer’s income.

“Considering our analyses based on available data and other information, the Department of Agriculture cannot support the proposed reduction of the [most favored nation] tari on rice at this time,” the DA said.

The DA submitted its position paper a day before President Marcos Jr., who is the concurrent agriculture secretary, announced that he rejected the proposal of his economic managers to temporarily reduce rice tari s due to the projected downward trend in the international prices of the staple.

(Related story: businessmirror.com. ph/2023/09/27/marcos-rejects-ricetariff-cut-proposal/).

“Despite the release of these photos and videos for almost a week now, and our e orts to coordinate and expedite the need for exploration in these areas with marine scientists, we have not yet reached an agreement on the timing of such an [marine scienti c] expedition. Consequently, the PCG is having di culty in conducting a scienti c expedition in these maritime features due to the limited availability of marine scientists in the country who are already committed to their ongoing research projects. Despite the urgency and national security implications of the matter, the PCG is constrained by the availability of marine scientists and their schedules,” Tarriela said in a statement read during the forum.

He suggested for the National Task Force for the West Philippine Sea to instruct marine scientists in public institutions “to prioritize research in areas with national security implications.”

Prof. Jay Batongbacal, international maritime law expert, said that during the administration of President Rodrigo Duterte, the Philippine government failed to call out China for the damage it caused in the coral reefs for building arti cial islands.

This even after the arbitral tribunal said that China violated provisions in the United Nations Convention on the Law of the Sea (Unclos) for destroying the marine life with the construction of arti cial islands.

“I myself, some years ago noted that more than 500 hectares of Scarborough Shoal had been destroyed in those intervening years between 2012 and 2016 [when the Philippine government did not called out China after the ruling],” Batongbacal said.

HOUSE OKAYS BUDGET BILL, SOME CIFS REALIGNED

the means to perform their duties, especially in these pressing times when we’re facing serious concerns in the West Philippine Sea,” Co explained.

“The CIFs from other departments and agencies will be realigned with the NSA, Nica, PCG, and BFAR to boost the country’s monitoring and operational capabilities in protecting our territorial waters and securing the rights and access of Filipino shermen to their traditional shing grounds,” he added.

In response to media queries, Co said among those to be a ected by the budget cuts are the OVP and DepEd, which were allocated a combined P650 million in con dential and intelligence funds under the 2024 National Expenditure Program.

“So far, that’s what we have identi ed, but we’re still looking at other sources,” he said.

The House party leaders decided on this after the Chinese Coast Guard installed a oating barrier in Bajo de Masinloc or Scarborough Shoal o the coast of Zambales.

The proposed 2024 national budget is 9.5 percent higher than this year’s budget of P5.267 trillion and is equivalent to 21.7 percent of the country’s gross domestic product.

The education sector receives the largest allocation at P924.7 billion, including funds for the Universal Access to Quality Tertiary Education program, textbooks, and feeding programs. The Department of Education sees a 5.37-percent increase to P758.6 billion.

Infrastructure priorities include the NorthSouth Commuter Railway System and Metro Manila Subway Project Phase 1. The Department of Public Works and Highways gets P822.2 billion with allocations for road improvement.

The Department of Transportation’s budget doubles to P214.3 billion, focusing on mass transport and rail systems.

Agriculture receives P181.4 billion, supporting rice, corn, and high-value crop production. The Department of Health gets P306.1 billion, while the Department of Social Welfare and

Development sees a 5.2-percent increase to P209.9 billion. The Department of National Defense’s budget rose by 14.16 percent to P232.2 billion.

Earlier, Rep. Co also assured the public that the country’s post-pandemic recovery will continue to be the national budget’s main focus next year as it was crafted to support post-pandemic recovery and shield the economy from external headwinds and in ationary pressures.

“The key priorities of the 2023 GAA are still education, healthcare, infrastructure, social services, social welfare, and many others,” said Co.

Co also said the P5.786-trillion national expenditure program for next year will include a budget of P1.748 trillion for debt payments and other expenditures that are automatically appropriated by law.

He said the general appropriations of P4.020 trillion are 9.5 percent higher than in 2023, while the P281.9 billion earmarked as unprogrammed funds are 65 percent lower than this year’s amount.

The Philippines’s outstanding debt at the end of 2024 is projected to reach P15.841 trillion as the Marcos Jr. administration is set to borrow more money to bankroll the national government’s record-high P5.768-trillion budget for next year.

The 2024 budget, as submitted by the Department of Budget and Management, showed the expected national government’s debt stock by the end of 2024 is P1.218 trillion higher than the projected P14.623 trillion of outstanding debt by the end of this year.

The 2024 national budget will be funded through a combination of 53 percent revenue and 43 percent debt paper issuances. Of the total P2.46 trillion in borrowings planned for next year, 75 percent will be sourced from the domestic capital market to better manage the debt.

For her part, House Committee on Appropriations Senior Vice Chairperson Stella Luz Quimbo gave assurances that macroeconomic assumptions adopted in the 2024 General Appropriations Bill have sound basis.

According to Quimbo, the 2024 national budget sets aside resources for programs critical to accelerating the nation’s growth, such as investments in education, transportation, and infrastructure.

100% for Ledac list

ALSO, Romualdez reported the 100-percent approval of Ledac priority bills three months ahead of time. Romualdez recalled that at the July 5 second full meeting of Ledac, 20 priority bills were targeted for approval by both houses of Congress by yearend.

He listed the 20 Ledac-agreed priority bills the House has approved, including two the President may sign into law soon: House Bill (HB) 7006, or Automatic Income Classi cation Act for Local Government Units, and HB 8278, or the Philippine Salt Industry Development Act. The 14 others passed on third and nal reading are: HB 6522, or Philippine Centers for Disease Prevention and Control Act; HB 6518, or Health Auxiliary Reinforcement Team Act; HB 6452, or Virology and Vaccine Institute of the Philippines Act; HB 6687, or Instituting a National Citizens Service Program; HB 6558, or Real Property Valuation and Assessment Reform Act; HB 7327, or E-Governance/E-Government Act; HB 6444, or Waste Treatment Technology Act; HB 6510, or New Philippine Passport Act; HB 7325, or Magna Carta of Filipino Seafarers; HB 7240, or National Government; Rightsizing Act; and HB 7393, or Anti-Financial Account Scamming Act.

Also on Ledac’s: HB 7446, or bill amending the Bank Secrecy Law; HB 8969, or Military and Other Uniformed Personnel Pension Act; and HB 9284, or Anti-Agri- shery Commodities and Tobacco Economic Sabotage Act of 2023.

The House also adopted Senate Bill 1846 as an amendment to HB 0004, or the Internet Transactions or E-Commerce Law.

On Wednesday, the House rati ed conference committee reports on HB 6527, or the Public-Private Partnership Act, and HB 4125, or the Ease of Paying Taxes Act.

THE IT and Business Process Management (IT-BPM) industry may “slightly exceed” its revenue target of $35.4 billion for 2023, according to IT and Business Process Association of the Philippines (IBPAP) President Jack Madrid.

‘Tariff cuts could slash rice farmers’ income by P8/kg’

Lawmakers commit to reallocate CIF to agencies protecting WPS

By Jovee Marie N. Dela Cruz  @joveemarie

The Saga of San Lorenzo Ruiz: Eternal Gardens’ Ode to Faith

PICTURE yourself in the bustling streets of Binondo, Manila. Amid the chaos and vibrance of city life, there exists a narrative that transcends time—a story of faith, courage, and unwavering devotion. Today, Catholics gather to celebrate the Feast of San Lorenzo Ruiz, an occasion that venerates the life and martyrdom of the first Filipino saint.

A Journey of Faith and Sacrifice

SAN Lorenzo Ruiz, born to a Chinese father and a Filipino mother in Binondo, embarked on an extraordinary journey marked by faith, persecution, and unwavering devotion, forever leaving his mark on history.

Saint Lorenzo’s early life was steeped in religious devotion as he served as an altar boy at Binondo church and received his education from Dominican friars. He later became an escribano and joined the Confraternity of the Most Holy Rosary, deepening his spiritual commitment.

However, tragedy struck in 1636 when Saint Lorenzo was falsely accused of murder, leading him to seek asylum in Okinawa, Japan, along with three Dominican priests. The timing of their arrival coincided with a period of intense Christian persecution under the Tokugawa Shogunate, which led to their arrest, imprisonment, and torture.

The ultimate test of faith awaited Saint Lorenzo and his companions when they were hung upside down over a pit on Nishizaka Hill, an attempt to force them to renounce Christianity.

Saint Lorenzo remained steadfast despite the physical and emotional agony he faced, declaring, “I am a Catholic and wholeheartedly do accept death for God. Had I a thousand lives, all these to Him shall I offer.” He passed away on September 29, 1637, at the age of 42.

Saint Lorenzo’s unwavering faith and the sacrifices he made did not go unnoticed. Pope

John Paul II beatified Lorenzo Ruiz during his historic papal visit to Manila on February 18, 1987. Just six years later, Saint Lorenzo achieved

an even greater milestone: he became the first Filipino saint. Pope John Paul II canonized him on October 18, 1987, in Vatican City.

San Lorenzo Ruiz Finds

Sanctuary in New York IN a momentous religious event happening this October 2023, a three-foot bronze statue of San Lorenzo Ruiz will be enthroned to its permanent abode within the hallowed halls of Saint Patrick’s Cathedral in New York City. This statue was a gift from Eternal Gardens founder Ambassador Antonio L. Cabangon Chua, which was sculpted by Eduardo Castrillo.

Father Erno Diaz, Chairman of the San Lorenzo Ruiz Global Ministry and founder of the Blessed Lorenzo Ruiz Movement in America, shared this event in an interview with CNN Philippines, emphasizing the importance of promoting devotion to the beloved saint.

Eternal Gardens’ Tribute to San Lorenzo Ruiz

ETERNAL Gardens, founded by the late Ambassador Antonio L. Cabangon Chua, who played a significant role in Saint Lorenzo’s canonization, pays homage to the saint by establishing plazas in his honor within select parks. On this sacred feast day, Eternal Gardens branches in Baesa, Caloocan, Biñan City, Laguna, and Balagtas, Batangas City, each of which homes a plaza in honor of San Lorenzo Ruiz, will hold Thanksgiving Masses. Moreover, Eternal Gardens Lipa will unveil the San Lorenzo Ruiz Columbarium, providing a dignified resting place for cremated remains—a cost-effective alternative to traditional burial.

The San Lorenzo Ruiz Columbarium stands as a testament to the enduring influence of this beloved Filipino saint. It symbolizes unwavering faith and devotion, serving as a befitting tribute to a man whose unyielding belief continues to inspire and guide the faithful.

HOUSE leaders on Wednesday have agreed to reallocate confidential and intelligence funds (CIF) to agencies tasked to protect the country’s sovereignty in the West Philippine Sea (WPS).

The collective decision of the House leadership to reallocate the 2024 CIF funds was made through a joint statement issued by heads of political parties, as the chamber is expected to approve the 2024 General Appropriations Bill by Wednesday.

“

Recognizing the rising security threats in the West Philippine Sea and the need to secure top officials, these agencies are better positioned to counteract security threats, protect our territorial waters, and secure the rights and access of Filipino fishermen to traditional fishing grounds,” the parties added.

The decision also underscores the need to ensure that resource allocation aligns with national priorities and the urgent needs of the citizenry, reflecting our commitment to a budget that is balanced, equitable, and serves the true needs and aspirations of the Filipino people,” it added.

The joint statement was signed by Rizal 1st District Rep. Michael John R. Duavit, president, Nationalist People’s Coalition; Agusan del Norte 1st District Rep. Jose S. Aquino II, secretary general, LakasChristian Muslim Democrats; Romblon Rep Eleandro Jesus Madrona of the Nacionalista

Party; Surigao del Sur 2nd District Rep. Johnny T. Pimentel, vice president for Mindanao, PDP-Laban; Camarines Sur Rep. LRay Villafuerte, president, National Unity Party; and Barangay Health & Wellness (BHW) Party-List Rep. Angelica Natasha Co, representing the Partylist Coalition Foundation Inc. (PCFI).

With this, a substantial amount of the reallocated funds will go to the National Intelligence Coordinating Agency (NICA), the National Security Council (NSC), the Philippine Coast Guard (PCG), and the Bureau of Fisheries and Aquatic Resources (BFAR).

The NICA is the leading intelligence collector of the national government, which directs, coordinates, and integrates all intelligence activities, both foreign and domestic, concerning national security. The NSC, on the other hand, is the principal advisory body on the proper coordination and integration of plans and policies affecting national security.

Aside fr om NICA and the NSC, the House leadership also decided to augment the 2024 spending plan of the PCG and BFAR to boost their capacity and capability in surveillance and security over the WPS.

“We have decided to reallocate, as part of the budget process, confidential and intelligence funds to other agencies chiefly responsible for intelligence and surveillance, such as the National Intelligence Coordinating Agency, the National Security Council, the Philippine Coast Guard, and the

Bureau of Fisheries and Aquatic Resources,” said the joint statement.

“In c onclusion, this united stance is a testament to our commitment to uphold the principles of democracy, prioritize the needs of the Filipino people, and ensure the prudent and rational use of the nation’s resources,” said the statement.

E arlier, House Deputy Minority Leader and ACT Teachers Party-List Rep. France Castro said the Marcos administration has increased CIF from P10.022 billion this year to P10.142 billion, or almost P120 million more next year.

The lawmaker said the largest CIF is under Marcos, with P4.56 billion.

She added that the Office of the Vice President (OVP) is again proposing P500 million in confidential funds, and the Department of Education (DepEd) is asking for another P150 million in confidential funds, all under the control and discretion of the vice president.

Under the current setup, only the President, the Senate President, and the Speaker of the House have access to information pertaining to CIFs.

In the plenary deliberations of the OVP for 2024, Castro asked the OVP if it was willing to forgo the confidential fund request for 2024.

Davao de Oro Rep. Maria Carmen Zamora, the sponsor of the OVP budget, said the OVP is firm in its stand that it can “only propose on how it will do its job.”

Also asked if the OVP is willing to forgo the

confidential fund request for 2024 and reallocate it to agencies protecting the country’s safety and security, Zamora repeated that the “OVP is consistent with its stand that it submits to the wisdom of Congress.”

According to Zamora, the OVP proposed CIF would be used for the safe implementation of all programs and activities of the OVP.

Z amora said OVP’s actions are in alignment with the law and have always been in conformity and synergy with the Constitution and co-equal branches of government.

“ The OVP holds immense respect for Congress, as we hold the power of the purse. This is a critical responsibility that enables careful allocation of resources to serve the nation’s needs and aspirations,” she said.

E arlier, the Department of Budget and Management (DBM) assured the public that the allocation for CIF in the 2024 proposed budget will be covered by circulars and will be properly accounted for.

Joint Circular 2015-01, or the guideline on the entitlement, release, use, reporting, and audit of confidential and intelligence funds, was issued on January 8, 2015, by the Commission on Audit, the Department of Budget and Management, the Department of the Interior and Local Government, the Governance Commission for GovernmentOwned and Controlled Corporations, and the Department of National Defense. T he circular refers to confidential expenses as those expenses pertaining to or related to surveillance activities in civilian government agencies that are intended to support the mandate or operations of the agency. It defines the intelligence fund as the lump sum amount provided as such in the general appropriations for the national government agencies.

Poll watchdog flags 27K ‘unopposed’ bets for BSKE

By Samuel P. Medenilla @sam_medenilla

ELECTION watchdog Legal Network for Truthful Elections (LENTE) on Wednesday expressed concern over some 27,000 “unopposed” candidates for the Barangay and Sangguniang Kabataan Elections (BSKE) next month.

In a Viber message, LENTE Executive Director Rona V. Caritos said the large number of unopposed candidates might undermine the country’s democracy.

“P eople don’t have choices. The heart of a democracy is people having choices, so this situation goes into the heart of democracy,” Caritos said.

B ased its latest data, the Commission on Election (Comelec) registered the following “unopposed candidates” for the next BSKE:

7,226 for bar angay chairman; 1,611 for member of the Sangguniang barangay;

8,057 for Sangguniang Kabataan (SK) chairman; and 10,620 for SK.

THE Philippine Navy (PN) will have more weapons and naval platforms in the coming years to defend the country’s vast maritime territories, Armed Forces of the Philippines (AFP) chief Gen. Romeo Brawner Jr. said Tuesday.

“He [Brawner] also highlighted the Navy’s invaluable role in defending our archipelago’ and ensured ‘in the next few years, there will be more platforms, vessels, and missile systems in order to defend our archipelago’,” PN spokesperson Captain Benjo Negranza said in a statement Wednesday.

These naval platforms include the two missile corvettes and six offshore patrol vessels being built in South Korea, along with the five missile boats ordered from Israel, to name a few.

Brawner also lauded all PN sailors and Marines for their “unwavering commitment and dedication to service which contribute to the overall mission accomplishment of the AFP.”

The AFP chief visited the Navy headquarters at Naval Station Jose Andrada to conduct a so-called “Talk to Troops” along with Navy commander Vice Admiral Toribio Adaci Jr.

In emphasizing the role of the PN

THE Philippine Navy (PN) and the United States Navy (USN) will be conducting a series of joint naval exercises starting October 2 to 12 aimed at enhancing the interoperability and warfighting skills of the two services.

These maneuvers will be held at the Naval Forces Southern Luzon area-of-operations, Armed Forces of the Philippines (AFP) public affairs office chief Lt. Col. Enrico Gil Ileto said in a statement Wednesday.

The drills are formally known as the “PHUS Exercise Samasama,” he added.

“S amasama is a bilateral exercise between the USN and the PN that aims to further strengthen international defense cooperation

in safeguarding the nation’s territorial defense, Brawner conveyed his strategic priorities embedded in the acronym “UNITY,” which represents a holistic approach to security and progress.

“U” symbolizes the Unification of the Armed Forces and the community toward the harmonious relationship between the military and the civilian population.

While “N” stands for Normalization in the Bangsamoro region characterized by lasting peace and stability.

“I” underscores the importance of Internal Security Operations as a critical aspect of national defense.

“T” is for Territorial Defense, guarding the nation’s sovereignty with unwavering commitment.

Lastly, “Y” cultivates the next generation of defenders through Youth and Reserve Development.

“Promoting the morale and welfare of the personnel, Gen. Brawner highly encouraged taking advantage of educational opportunities available for uniformed personnel, including college scholarship, master’s degree, and PhD programs,” Negranza said. Rex Anthony Naval

and advance a rules-based international order,” Ileto stressed.

He added that these activities were designed to further enhance the PN’s naval warfare capabilities as the country’s offshore combat force for maritime security operations.

“They will cover the fundamentals of antisubmarine warfare, anti-surface warfare, anti-air warfare, and electronic warfare,” Ileto pointed out.

Meanwhile, interoperability exercises with the USN will focus on warfighting serials.

The training will also strive to further improve maritime integration and combined interoperability with the

“ We are concerned with this number, given that we know how much people are invested in barangay governance,” Caritos said.

The poll body was also able to record eight villages with no barangay chairman candidates.

There are also 124 barangays without SK chairman candidates and 543 others without SK candidates.

Caritos said the number of barangays with no candidates running for SK positions was higher compared to that in the 2018 BSKE.

Comelec earlier said the Department of the Interior and Local Government (DILG) may assign officers-in-charge in barangays without any candidates for the next BSKE on October 30, 2023.

LENTE urged the election stakeholders to study the cause of such a trend to prevent its recurrence in future polls.

“It would be good to take a closer look at these barangays and identify reasons why this happened. This can help in preparation for the 2025 BSKE,” Caritos said.

She also said the result of the study can help in amendments in the current set up of the SK council.

Japan Maritime Self Defense Force, Royal Australian Navy (RAN), Royal Canadian Navy, and the United Kingdom’s Royal Navy through subject-matter expert exchanges (SMEEs) and humanitarian assistance and disaster response table-top events.

“The French Navy and Royal Australian Navy will send personnel to join the SMEEs, while the Royal New Zealand Navy and Indonesian Navy will be in the exercise as observers,” Ileto said.

He added that Terms of Reference with the participating non-Status of Visiting Forces Agreement Partner countries were already approved and signed in accordance with Philippine laws. Rex Anthony Naval

PHL’s

Batangas–DTI-BOI

GLOVAX Lifescience Corp., the country’s first vaccine manufacturing facility with a P7.5 billion project cost, is expected to rise soon in Taysan, Batangas, according to an official of the Department of Trade and Industry (DTI).

A project briefer sent by Trade Undersecretary and Board of Investments (BOI)

Managing Head Ceferino S. Rodolfo to reporters noted that the project aims to establish the first vaccine manufacturing facility in the Philippines.

“[ The] NDC [National Development Company] is part of the Memorandum of Understanding [MOU] signed by Glovax, a Korean pharmaceutical company and the BOI to further the discussions and plans of the parties for the project,” the project briefer read.

Rodolfo str essed that the vaccine facility was one of the projects that he closely tracked with his counterpart in South Korea under the Health Cooperation provisions when they were negotiating the Philippines-South Korea Free Trade Agreement (PH-KR FTA).

When we were negotiating the PH-KR FTA, this was one of the Projects which my counterpart, Han-koo Yeo—who eventually became Minister—and myself were closely tracking and trying to enable through specific Health Cooperation provisions in the FTA,” Rodolfo told reporters in a Viber message on Tuesday.

In F ebruary 2023, Glovax Lifescience Corp. submitted its feasibility study for the manufacturing/production of vaccines and the corresponding valuation report. The NDC Board approved the project during its meeting on April 27, 2023, the project briefer noted.

“Glovax will use the NDC investment to initiate the detailed engineering design of the vaccine plant, land development, and construction of improvements and office at the vaccine plant site in Batangas,” it said.

T he vaccine plant’s projected total cost is P7.5 billion to be constructed in three phases.

T he project will house a vaccine production and research and development (VPRD) facility, with a maximum annual capacity of 50 million doses, the document read.

It will also include a pilot plant for the immediate production of any new or existing vaccines.

Moreover, the project will contain a bulk filling plant for the immediate vaccine production with local components of vaccines supplied to the government. Also among the facilities under this project is a vaccine research and development facility and animal testing for clinical trials.

Andrea E. San Juan

Employment generation: PBBM signs Trabaho Para sa Bayan Act

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R. Marcos Jr. on Wednesday signed the Trabaho Para Bayan (TPB) Act that will pave the way for the creation of a national master plan to address unemployment, underemployment and youth unemployment.

Under the new legislation, an interagency council (IAC) from national government agencies as well as representatives from employers and labor organizations, marginalized sector, and informal sector will be tasked to formulate and monitor the implementation of the TPB plan.

The council will conduct a comprehensive analysis of the employment situation and labor market to prepare the plan.

It will be led by the National Economic and Development Authority (Neda) and co-chaired by the Department of Trade and Industry (DTI) and the Department of Labor and Employment (DOLE).

T he TPB plan will contain short-term and long-term goals to stimulate economic growth, promote employability and boost labor productivity.

It will foc us on providing support to micro, small and medium enterprises (MSME), upskilling and reskilling, addressing youth unemployment, and providing reintegration support for overseas Filipino workers (OFW).

Business incentives

MARCOS said among the salient provisions of RA 11962 is the provision of incentives to employers, industry stakeholders, and private partners who will facilitate skills development, technology transfer and knowledge sharing among businesses and workers.

“To our businesses, especially our MSMEs, we will continue to provide support and other incentives such as increased access to financing and capital to promote self reliance and spur employment generation,” the Chief Executive said in his speech during the signing ceremony.

“ With this concerted effort, I am confident that we will not only achieve the goals of this law but we will also realize our vision of Bagong Pilipinas,” he added.

F or his part, Neda Secretary Arsenio M. Balisacan lauded the signing of the TPB Act, which, he stressed, will help improve the

THE Bureau of Immigration (BI) is pinning its hopes to eradicate corruption activities involving its personnel on the use of artificial intelligence (AI) and other advanced technologies for its services processes in the near future.

At the “Kapihan sa Manila B ay” media forum on Wednesday, BI Commissioner Norman Tansingco acknowledged that the BI is lagging behind other countries in terms of adoption of modern technologies such as AI, electronic gates (e-gates), biometrics, interactive and advanced passenger information system and others, which could not have only made the processing of travelers faster and smoother but prevent various illegal activities involving immigration personnel.

“The modernization of Bureau of Immigration services will lessen the person-to-person contact between the passenger and immigration employee. It will also lessen the discretion of BI officers,” Tansingco explained.

“Definitely, it will reduce the opportunity to commit graft or any abuse by the immigration officer and it will also lessen the need to hire additional employees,” he added.

Tansingco said once the processing of passengers is fully automated, BI personnel would no longer have the discretion to decide who can leave the country or be allowed to enter.

“Once it is automated, there will be no more conversations and discussions. The technology, the algorithm is there. The machine will be the one to decide whether a person can leave or not,” Tansingco added.

Tansingco said the BI is eyeing to replace half of the physical immigration counters nationwide by e-gates by 2026, which will lessen the need to hire more BI personnel.

E-gates use facial recognition, biometrics scanning

PPP Center OKs funding for DOTr

Central Office modernization plan

competitiveness of the labor market.

“ We support the Trabaho Para sa Bayan Act as it contributes to the Philippine Development Plan 2023-2028, which aims to increase employability, expand access to employment opportunities, and achieve shared labor market governance,” Balisacan said.

T he President enjoined all government agencies, including local government units (LGU), to cooperate and coordinate with the IAC to integrate the plan into their policies and programs.

He also called on DOLE and the Neda to harmonize the labor and employment plan 2023-2028 with the soon-to-be created TBP plan.

T he ceremonial signing of the new law was held in Malacañang and was attended by Senate President Juan Miguel “Migz” F. Zubiri, House Speaker Ferdinand Martin G. Romualdez as well as Senators Imee R. Marcos and Joel J. Villanueva.

O ther participants in the event were the secretaries of the Department of the Interior and Local Government, Department of Budget and Management, DOLE, DTI, and Neda.

and other electronic security checks to process travelers.

“If we convert 50 percent of our manual counters to technology that’s automatically 50 percent less requirement for immigration officers but we will not remove our existing personnel. They will be retained, they will be given different assignments and responsibilities,”

Tansingco stressed.

The BI chief recently attended a five-day biometrics forum organized by International the Civil Aviation Organization (ICAO) in Canada last September 12 to 14 to benchmark technology trends for the Philippines.

Tansingco said his side trip to Vancouver, Canada showed that the present trend is more on borderless travel with the use of AI.

H e cited Singapore’s unveiling of the automated clearance system that will allow people to depart the airport without the need to present their passports.

Tansingco said Dubai, like Singapore, is also using AI to process travelers.

In Canada, he said, they are no longer using manual e-gates and passengers can skip check-in counters through automated processing.

“They have a recent technology that the passenger would no longer pass through the check in counter...we were told it’s automated processing,” he added.

For in-bound passengers, Tansingco said advanced countries already have the so-called advanced passenger information system, which helps them prevent the entry of undesirable travelers through cross-border cooperation and intelligence sharing.

Tansingco lamented that there are only 21 e-gates at the arrival area in major international airports nationwide, majority of which are at the Ninoy Aquino International Airport. These e-gates, however, are already obsolete since they are considered as first generation models, which were procured in 2016 and 2017.

Joel R. San Juan

By Lenie Lectura @llectura

THE Public-Private Partnership (PPP)

Center has approved the application for funding of the Department of Transportation’s (DOTr) plan to modernize its Central Office.

One more project has been approved for support from the Project Development and Monitoring Facility [PDMF] after the PDMF Committee approved on September 26, 2023 the application for funding of the Department of Transportation [DOTr] for the provision of Project Preparation and Transaction Advisory Services for DOTr’s Central Office Main Building Project,” a statement from PPP Center read.

The PDMF is a revolving fund managed by the PPP Center established to enhance the investment environment for PPPs and develop a robust pipeline of viable and wellprepared PPP infrastructure projects.

T he proposed DOTr project is expected to address the current and future office space requirements of the agency, as it envisions to have all of its offices housed within a single location to eliminate un -

SENATOR Christopher Lawrence “Bong” Go, chairperson of the Senate Committee on Health, emphasized in an interview on Tuesday the urgent need to bolster the Department of Health’s (DOH) budget as the country navigates towards pandemic recovery, even amid several existing and emerging public health concerns.

“Gaya ng sinabi ko noon, full support ako sa DOH kung ano ang makakatulong sa ating health-care system,” said Go. He recalled the budget deliberations in December 2019 when there were attempts to cut the budget of the Research Institute for Tropical Medicine (RITM) for year 2020.

“Nag-budget hearing noong December 2019, tinapyasan ang proposed budget sa RITM at DOH, di po ako pumayag noon. Dinagdagan pa natin at ibinalik natin ang pondo,” he narrated.

This decision turned out to be crucial then, as RITM later played a vital role in Covid-19 testing when the pandemic started in 2020. Go noted that the restoration of RITM’s budget underscored the importance of adequately funding health-care institutions, especially in unpredictable times.

Go’s recollection came at a critical time when DOH is facing a P10-billion budget cut for 2024. The proposed budget cut would bring DOH’s overall budget down to P199.45 billion from P209.62 billion under the General Appropriations Act of 2023.

With this, Go argued that the health-care system needs more, not less, financial support. He then underscored the urgency for increased investment in the public healthcare system.

“The more we should invest sa ating healthcare system, dagdagan ang pondo,” Go reiterated.

necessary transport and coordination cost, improve internal administrative efficiency, and increase transparency and accountability through enhanced access by the public and other stakeholders of the agency.

“Said project will involve the financing, design, construction, and operations and maintenance [O&M] of a mixed-use, multi-story, green-design and genderresponsive building, and ancillary facilities,” the statement read.

The scope of work will cover the preparation of the pre-feasibility study (FS); preparation of FS and structuring of the project; assistance to DOTr in securing all required government approvals; preparation of bid documents and assistance during the PPP bidding process; and post-PPP contract signing assistance and advisory for the project.

T he PDMF committee is chaired by the National Economic and Development Authority (Neda) with the Department of Finance (DOF) as vice chair, and the Department of Budget and Management (DBM) and PPP Center as members of the Committee. The PPP Center acts as the PDMF Secretariat.

“Parasaakinpo,dapatsuportahannatinnadagdaganangpondongDOH. ‘Wagpongbawasan,dagdagan pa po,” he stated further.

Go emphasized that the funds should be used wisely to benefit patients particularly the less fortunate.

Go said that those who are wealthy have the option to seek medical care in private hospitals, while the less fortunate are left with no other choice but to rely on public health-care facilities that rely on government funding.

“Ito pong mga helpless, mga hopeless nating kababayan, sila ang unahin natin.‘Yung mayayaman naman po,dipupuntasa public hospitals ‘yan,” he said.

During the Commission on Appointments hearing on the ad interim appointment of Health Secretary Teodoro Herbosa, which Go presided on early that day, the senator also appealed to DOH to ensure that poor and indigent patients are given utmost attention in public hospitals.

Go cited a recent department memorandum signed by Herbosa instructing medical center chiefs to ensure that all patients must be accorded with the available services in Malasakit Centers.

The Malasakit Center serves as a one-stop shop aimed at helping particularly poor and indigent patients minimize their medical expenses to the lowest amount possible by collaborating with various agencies offering medical assistance programs. This initiative was institutionalized under Republic Act No. 11463, a law principally authored and sponsored by Go in the Senate.

P resently, there are 159 Malasakit Centers spread across the country, and they have collectively provided support to more than seven million Filipinos, as reported by DOH.

1st vaccine facility to rise in Taysan,

Go renews call for DOH budget hike as PHL shifts to pandemic recovery

BI eyes tech to upgrade ops, curb personnel corruption

DTI-EMB races to tap $566-million unrealized export potential to India

By Andrea E. San Juan @andreasanjuan

THE Philippines has at least $566.92 million worth of unrealized export potential in India, according to an official of the Department of Trade and Industry-Export Marketing Bureau (DTI-EMB).

D uring the Markets of the World forum hosted by the World Trade Center Metro Manila (WTCMM), Jhino B. Ilano, assistant director of DTI-EMB, said these exports could come from electronics, Halal-based products, personal care and beauty products, coconut products, and other organic products such as dairy products and eggs.

A ccording to a statement released by the World Trade Center Metro Manila (WTCMM) on Wednesday, the DTI-EMB official said Filipino exporters can also take advantage of the Asean-India Free Trade Agreement (AIFTA) where the Philippines enjoys reduced tariffs for 94 percent of exports to India.

A s he spoke before over 60 participants at the forum, Ilano shared that total trade with India has been growing by 4.2 percent compound annual growth rate (CAGR) from 2018 to 2022, reaching $2.8 billion in 2022. He noted that exports were at $2.1 billion while imports amounted to $701.4 million.

I ndia ranks as the country’s 15th largest trading partner with a 1.31 percent share of total trade with the Philippines. It is 16th

among the country’s export markets with a 0.89 percent share of total exports, and 14th among import suppliers with a 1.53 percent share of total imports.

For her part, WTCMM chairman Pamela D. Pascual said WTCMM is putting together a Philippine delegation to participate in the annual World Trade Centers Association (WTCA) Global Business Forum hosted by WTC Bengaluru, India in March 2024.

“India is such an exciting market with many positive developments happening in various sectors,” Pascual said.

Progress is seen in trade, investment, economic, scientific, and technical cooperation. With the world’s exponential growth in digitalization and globalization, both countries have emerged as frontliners in the service sectors, particularly in the business process outsourcing industry. WTCA alone has over 60 license holders across India, making it one of the largest WTC contingents in the world,” the WTCMM chairman noted.

For his part, Raju Mandhyan, former chairman of the Philippines India Business Council (PIBC) said investment potentials in India are in the fields of beauty and wellness, tourism and travel, luxury goods, food and beverages, and aqua and seafood products.

I mports from India, meanwhile, include engineering goods like machinery, equipment and

MMDA launches motorcycle riding academy in Pasig City

By Claudeth Mocon-Ciriaco @claudethmc3

IN a bid to decrease motorcycle-related accidents, the Metropolitan Manila Development Authority (MMDA) on Wednesday opened the Motorcycle Riding Academy (MRA) to provide theoretical and practical courses on safe motorcycle riding.

MMDA Acting Chairman Romando Artes said motorcycle riders who are either beginners or have already been driving but want to know the basic knowledge on handling and operating motorcycles with focus on safety riding can now enroll in the MRA located at a vacant property of the Government Service Insurance System (GSIS) along Julia Vargas Avenue, corner Meralco Avenue in Pasig City.

The MRA will hold a free training for interested individuals aged 17 years and above. It will accommodate 100 participants per batch.

“Hindi ako naniniwala na ang ibang motorcycle riders ay likas na walang disiplina, bagkus kulang lamang sila sa kaalaman at edukasyon sa tamang paggamit ng daan, traffic rules and regulations, and proper driving skills. ’Yan po ang hangad natin sa pagtatayo ng MC Riding Academy— bigyan ng edukasyon ang mga motorcycle riders at baguhin ang kanilang isipan,” Artes said.

In a message, Vice President and concurrent Department of Education Secretary Sara Duterte expressed her support to the MMDA MRA.

“M otorcycles are a common mode of transportation in Metro Manila and the rest of the nation, but they are also among the most vulnerable vehicles on the road. The Academy will assist in mitigating risks by equipping riders with the necessary knowledge and abilities for riding safely,” Duterte said.

To save lives and reduce the number of motorcycle-related accidents on Metro Manila’s roads, support the MMDA’s implementation of this initiative,” she added.

Partnerships

THE MMDA, through its effort to improve the services of the Riding Academy, has partnered with several stakeholders for the conceptualization of modules and donations of motorcycles, container vans, tents, and helmets, among others.

A mong those whom the MMDA partnered with are the GSIS that owns the vacant property, which will house the Academy, Watanabe Riding Development Head Coach Dashi Watanabe for trainers’ training, and Honda Philippines for technical assistance and motorcycle units.

GSIS President and General Manager Jose Arnulfo Veloso also conveyed support to the Academy.

“Our GSIS is adhering to a policy of putting our investment into nation building. And this is why we are all here today to put together riding discipline and make our roads safe,” he said.

For her part, Honda Philippines Inc. President Sayaka Hattori assured MMDA its full support in the future development of this project.

We are also optimistic that this will reduce

traffic-related accidents by teaching the Filipino people safe and appropriate driving,” she said.

Department of the Interior and Local Government Secretary Benjamin Abalos Jr.; Senators Juan Edgardo Angara and Christopher Lawrence “Bong” Go all donated motorcycle units. Municipality of Pateros, meanwhile, donated container vans, which will serve as the academy’s classrooms.

In a video message, Go congratulated the MMDA for the opening of the Academy as he underscored the importance of road safety.

Ang pagbubukas ng MMDA Motorcycle Riding Academy ay isang makabuluhang hakbang sa ating pagsisikap na mapaigting ang kaligtasan sa mga kalsada ng Metro Manila. Let us work together to ensure that this academy becomes a cornerstone of safety and responsibility on our roads. With determination and cooperation, we can make Metro Manila a better place for all its residents and visitors,” he said.

Motorcycle ride-hailing firms such as Angkas, Joyride and Lalamove, likewise donated motorcycle units, while motorcycle dealer Ropali Motorcycles donated motorcycles, helmets, and tent.

A ngkas CEO George Royeca, Joyride Senior Vice President Noli Eala, and Ropali President Ariane Alingog-Claro expressed their full support and said that the Academy is a good chance to further advocate road safety.

M eanwhile, Pasig City Mayor Vico Sotto and Pasig City Rep. Roman Romulo both expressed their support for the academy.

“ This is really an excellent and innovative initiative. Pag tuloy-tuloy po ito at marami tayong ma -train, sigurado po sa kalsada, mababawasan po ang anumang problema na mayroon tayo ngayon ,” Sotto said.

Requirements

PARTICIPANTS must be able to balance and ride a bicycle. They must also provide their own standard full-face helmet, full-finger motorcycle gloves, and rain gear. Reflective safety vest is optional. Motorcycles will be provided by the Academy.

Documentary requirements for the participants include: photocopies of Driver’s License or Student’s Permit (if available, but not necessarily a requirement); barangay clearance; Certificate of Employment (if employed); medical certificate/health declaration, and waiver. The motorcycle safety course waiver form must be signed by both the student and his/her parents if the applicant is 17 years old.

T he two-day course includes: Basic Road Emergency Response; Road Traffic Rules and Regulations; Motorcycle Orientation on basic parts; control and operation of motorcycles; demonstration of static position and moving position, and; Motorcycle Skills Practice and Demonstration.

Those who will complete the Basic Motorcycle Rider Course and pass the Motorcycle Riding Skills Test will be given a Certificate of Completion and a badge.

I nterested applicants must submit the online enrollment form through this link: https://forms. gle/UPPbryVoaKoiyxJE9.

components, pharmaceuticals, and educational content, he added.

I n August 2023, DTI Undersecretary

Ceferino S. Rodolfo said that the Terms of Reference for the Preferential Trade Agreement (PTA) with India could be issued this year.

R odolfo earlier said India could be another destination for Philippine bananas, pineapples and mangoes.

15.

US Senate negotiators announce bipartisan bid to avert shutdown

By Erik Wasson & Billy House

THE US is on track for an October

1 government shutdown despite incremental progress late Tuesday in the House and Senate on rival spending bills.

Senate leaders introduced their own bill to avert a shutdown and cleared a procedural vote, while House Speaker Kevin McCarthy was able to start House debate on a series of conservative full-year spending bills.

The Senate stopgap bill has no clear path to pass the House, while the speaker has yet to nail down support for his own stopgap measure, which he plans to have the House vote on after the other full-year bills.

The Senate bill would keep the government open through mid-November and provide $6 billion in assistance to Ukraine.

T he Senate may not be able to vote its approval for the temporary measure before the Saturday midnight shutdown deadline because Senator Rand Paul, a Kentucky Republican, is threatening to slow it with procedural obstacles over the inclusion of Ukraine aid.

T hat bill, however, is dead on arrival in the House, where McCarthy could face ouster by conservative hardliners if he allows a bipartisan plan to come to a vote.

T he Senate plan, which would extend funding until Nov. 17, falls short of the $24 billion in Ukraine aid requested by President Joe Biden. It includes $6 billion of the $16 billion in emergency disaster relief the White House sought.

S enate Majority Leader Chuck Schumer said the bill was “a bridge, not a final destination,” and that more needs to be done later to address Ukraine and the recovery from a series of hurricanes and wildfires.

Over the years I have been clear in my view that government shutdowns are bad news,” Senate Minority Leader Mitch McConnell said. “They don’t work as bargaining chips.”

The Senate plans a shortfall in the

The World Oil pushes higher as tightening market outweighs risk-off tone

Women, Infants and Children nutrition program and temporarily extend some expiring farm bill programs. It would also allow the Pentagon to build a second Columbia Class submarine.

The House is focused on trying to pass full-year funding bills for the State, Agriculture, Homeland Security and Defense departments that would not in themselves end the shutdown threat.

McC arthy has said that after spending most of the week on these bills, he plans to bring up a stopgap bill that contains a deep cut to domestic spending and immigration law changes that are anathema to Senate Democrats and the White House.

S o far, at least 11 members of his party have indicated they would resist allowing a vote on that measure, preventing consideration unless McCarthy can win over some House Democrats.

Moder ate House Republicans are preparing to join with Democrats on a rarely used discharge petition to force a vote on a bipartisan effort. The procedure was adopted by the House in 1910 as a check on the speaker’s power and would force a vote on a bill without his approval.

Discharge petitions have been successfully deployed just twice this century.

Given their narrow majority, only five Republicans must join with Democrats to bring it about. Thirty-two Republicans have already signed onto a bipartisan bill to finance the government through Jan. 11 and provide military aid to Ukraine. The petition could be used to force a vote on the Senate bipartisan bill.

Representatives Mike Lawler and Marc Molinaro, both New York Republicans who represent areas Democrat Joe Biden carried in the last presidential election, already have publicly threatened to join Democrats in such a petition, and other GOP moderates are ready to do so.

The discharge petition, last deployed successfully in 2015, can be used to force a vote within nine “legislative days” when Congress is actually in session. With assistance from Steven T. Dennis/Bloomberg

China growth target hangs in balance while economists downgrade forecasts

By Cynthia Li

CHINA will just about meet its economic growth target of around 5 percent for this year, the latest Bloomberg survey shows, although the ongoing property crisis is raising the risk of a miss.

The economy is projected to expand 5 percent in 2023, according to the median estimate in a new Bloomberg survey of 78 economists—a 10 basis point-downgrade from an earlier poll, with analysts citing property as the biggest challenge for the nation. “ The real estate sector will continue to be under mounting pressure” despite recent government efforts to support property, said analysts at Poseidon Partner, a Hong Kong-based investment firm. “We expect to see players who racked up debt in the past to continue to suffer.”

The economist survey coincides with new research from Bloomberg Economics that suggests the “around 5 percent” growth goal is still possible, though not a sure bet. They estimate the probability of an undershoot at 18 percent.

“The drag from the property slump, fragile sentiment and widespread debt stress in the corporate sector could well knock the economy onto a lower trajectory,” wrote economists Chang Shu and Andrej Sokol in the Tuesday report. They project gross domestic product will expand 5.4 percent this year.

HSBC H oldings Plc, Morgan Stanley and Citigroup Inc. are already predicting growth of under 5 percent this year, with HSBC cutting its forecast this week to 4.9 percent from 5.3 percent.

Data from August signaled some of the drags on the economy may be bottoming out, with the drop in exports easing and official surveys of manufacturing activity edging closer to the line above which indicates expansion. Credit also grew more than expected, potentially suggesting some stability in household demand for mortgages as authorities work to bolster

West Texas Intermediate advanced to near $91 a barrel after ending 0.8 percent higher on Tuesday. The premium for nearterm US barrels is near the highest in more than a year, indicating a deficit. Official data due later on Wednesday may confirm another draw in crude inventories at an important US storage site.

“Oil’s fundamentals are still strong, with no substantial bearish drivers,” said Gao Jian, an analyst at Shandong-based Qisheng Futures Co., adding that traders will be monitoring macro headwinds and risk-off sentiment in equities. “Trading remains in

correction mode, with no risk yet that crude will plunge.”

Futures are set for their biggest quarterly jump since early 2022 as Opec forecasts a shortfall of as much as 3 million barrels a day from October on the back of supply cuts by Saudi Arabia and Russia. While the rally has rekindled talk of $100-crude, the gains have stalled over the past week, and analysts including Eurasia Group have warned that the cartel and its allies may need to extend the curbs next year to keep prices from falling.

On Tuesday, the industryfunded American Petroleum

Institute reported that inventories at the storage hub in Cushing, Oklahoma, declined again last week, although nationwide stockpiles climbed, according to a person familiar with the data.

A separate estimate from AlphaBBL Corp. also pointed to a drop at Cushing, where holdings

Trump found liable for fraud in NY Attorney General’s case

By Erik Larson & Patricia Hurtado

DONALD TRUMP was found liable for fraud for exaggerating his net worth by billions of dollars a year on financial records submitted to banks and insurers, a major blow to the former president in the biggest civil case against him that is scheduled to go to trial next week.

the real estate market.

The upside surprise from those figures has lowered the probability that China misses its official growth target from 32 percent in July to less than a fifth in August, according to Bloomberg Economics. But there’s still uncertainty, especially when it comes to the housing market. A housing rally in the nation’s biggest cities has already lost momentum, according to home sales data.

“Targeted support has yet to filter through more convincingly into the property market data,” said Arjen van Dijkhuizen, senior economist at ABN Amro.

The property crisis is by far China’s biggest challenge, according to a separate survey. Seventeen of the 21 economists polled by Bloomberg named “real estate” as the top issue. Three mentioned the economic slowdown, while the remaining respondent pointed to a confidence crisis in the nation.

Asked about an ongoing slump in housing sales, 15 of the 21 economists in that survey said they think home purchases will continue falling until at least the beginning of next year.

T he property market could take as long as a year to recover, former central bank adviser Li Daokui said, urging Beijing to do more to encourage lending to developers to halt the spread of defaults. While sales in large cities could return to growth sooner, it may take as much as a year to record “good recovery” in smaller cities, Li told Bloomberg News recently.

“The drag from property has yet to fully abate, while external weakness will continue for some time,” HSBC economists including Jing Liu wrote in a research note this week explaining their downgrade.

To prevent exacerbating structural imbalances, policymakers are refraining from unleashing a ‘sugar rush’ of policy support,” they added. “That said, fiscal and monetary support measures continue to be implemented, but will likely need time to have a larger impact.” With assistance from Tom Hancock/Bloomberg

The ruling Tuesday by Justice Arthur Engoron in Manhattan resolves the state’s biggest claim against the former president and narrows a trial set to start as soon as Oct. 2. The non-jury trial will now focus on the state’s remaining claims including falsifying business records and issuing false financial statements. The suit seeks $250 million in restitution and other penalties.

Engoron held that New York Attorney General Letitia James, who filed the suit in September 2022, had demonstrated liability by Trump as well as his sons Donald Trump Jr. and Eric Trump, along with the Trump Organization and its former chief financial officer, Allen Weisselberg. He also ordered Trump’s lawyers, including Christopher Kise, to pay sanctions of $7,500 each for repeatedly advancing failed legal theories in the case.

The judge concluded his ruling by saying James is now entitled to a court order dissolving any certificates issued to Trump’s LLCs under New York’s executive law, putting at risk his ability to continue operating his sprawling Manhattan-based company.

Though the case has been overshadowed in recent months by the four criminal cases filed against Trump, James’s case could have far-reaching consequences. Along with monetary penalties, the attorney general is seeking to bar Trump from serving as an officer or director in any company in the state where he was born and where he first rose to fame.

In a statement posted to his Truth Social social media platform, Trump reiterated many of

his claims in the case, including some that were rejected by the judge, whom he called a “Trump hater.” The former president said he was worth more than his financial statements, that the banks suffered no harm from his statements and that a disclaimer on the statements made clear that they should not be relied upon.

“It is very unfair, and I call for help from the highest courts in New York state, or the federal system, to intercede,” Trump said.

The suit accuses Trump of inflating the value of the former president’s biggest assets from 2011 to 2021 to get better terms from banks and insurers. The judge sided with James on her allegation that Trump repeatedly engaged in fraud by claiming exaggerated values for some of his best properties on his annual statements of financial condition.

The judge cited in his ruling several examples, including that the former president frequently claimed that his Trump Tower penthouse was three times as big as it actually was, even after he was alerted to the error.

“A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” the judge wrote.

In sanctioning Trump’s law -

yers, Engoron said they had repeatedly raised frivolous arguments that had already been rejected, including that James lacked standing to sue their clients. “Infants, legally declared incompetents, and persons under certain legal disabilities are not allowed to sue,” the judge said.

“The New York attorney general is none of the above.”

‘Worthless clause’

ENGORON went on to describe Trump’s defense team as inhabiting a “fantasy world” in which “rent regulated apartments are worth the same as unregulated, restricted land is worth the same as unrestricted land, restrictions can evaporate into thin air, a disclaimer by one party casting responsibility on another party exonerates the other party’s lies.”

The judge was referring to Trump’s habit of valuing properties without taking into account restrictions on their use and his assertion that disclaimers about his valuations signaled to banks and accountants that they should do their own. According to court filings, Trump valued his Mar-aLago resort in Palm Beach, Florida, at more than $700 million based on the false premise that the property could be fully developed for residential use even though he himself agreed to re -

have already sunk to the lowest since mid-2022.

A rally in the US currency is making oil more expensive for many buyers. A gauge of the dollar has risen more than 5 percent since mid-July to the strongest level since early December.

strictions limiting it to use as a social club.

“I never felt that these statements would be taken very seriously,” Trump said during his April deposition in the case, “because you open it up and right at the beginning of the statement, you read a page and a half of stuff saying, ‘go get your own accounting, go get your own this, go get your own that.’”

Trump had called the disclaimers “worthless” clauses because they meant the statements should have very little impact on the banks’ decisions. But the judge said those clauses weren’t enforceable and couldn’t insulate Trump from liability for fraud.

“Defendant’s reliance on these ‘worthless’ disclaimers is worthless,” Engoron said.

Engoron also said in his ruling that Trump had flouted an earlier court order intended to rein in alleged violations of New York business law during the litigation.

“Even with a preliminary injunction in place, and with an independent monitor overseeing their compliance, defendants have continued to disseminate false and misleading information while conducting business,” Engoron said.

Trump, who claims James’s lawsuit is politically motivated, is likely to appeal the ruling. He’s also making a last-ditch effort to delay the trial by arguing to a New York appeals court that Engoron failed to narrow the case after an appellate panel ruled some the state’s claims might be too old.

James argued a trial on her fraud claim wasn’t necessary because the evidence that Trump violated New York’s Executive Law was overwhelming. The attorney general said in court filings that her team gathered proof that Trump inflated his net worth annually by as much as $3.6 billion by exaggerating the market value of properties including his Mar-a-Lago estate in Florida.

Trump argued against the state’s motion for so-called summary judgment, saying the annual statements of financial condition that he gave to banks and insurers had “powerful disclaimers” saying they should do their own valuations. He has also argued that James didn’t have a right to sue because the banks and insurers didn’t suffer any financial losses. Bloomberg News

TRUMP BLOOMBERG

FUTURES are set for their biggest quarterly jump since early 2022 as Opec forecasts a shortfall of as much as 3 million barrels a day from October on the back of supply cuts by Saudi Arabia and Russia. BLOOMBERG

OIL rose as a tightening market outweighed gains in the dollar and a broader risk-off tone driven by the outlook for higher interest rates.

editorial

‘High rice prices bring risk of social unrest’

THe rice riots in Japan, also known as Kome Sodo, were started by a group of women who were protesting the surging rice prices. Landlords and rice merchants, anticipating the dispatch of troops to Siberia, began rice speculation, causing prices to skyrocket. The women began with peaceful petitioning, but when workers who were angry about the high rice prices joined the cause, it led to a nationwide uprising, estimated to have involved some 10 million people. The military ultimately subdued the rioters, but the uprising led to the collapse of the Terauchi Masatake administration.

The Progressive Alliance of Liberia called for a peaceful demonstration in Monrovia to protest the proposed increase in rice prices. On April 14, 1979, about 2,000 activists began what was planned as a peaceful march. However, more than 10,000 “back street boys” joined the march and quickly transformed the orderly procession into an orgy of destruction. Widespread looting of retail stores and rice warehouses occurred, and damage to private property was estimated to have exceeded $40 million. Troops were called in to reinforce the police units. In 12 hours of violence, at least 40 demonstrators and rioters were killed, and more than 500 were injured.

From Bloomberg: “High rice prices, which have been fueled recently by India’s export ban, bring the risk of political instability in Asia and Africa, according to the head of a United Nations agency. ‘Rice, especially in Africa, can certainly bring potential conflict or social unrest, which at this moment in time would be quite dangerous, Alvaro Lario, who leads the International Fund for Agricultural Development, said in an interview in New York.’”

President Ferdinand R. Marcos Jr. has certified as urgent a bill imposing stiffer penalties against “agricultural economic sabotage,” Malacañang said on Thursday. This after the Chief Executive sent a letter to Senate President Juan Miguel “Migz” F. Zubiri on Wednesday certifying as urgent the approval of Senate Bill 2432, which will repeal Republic Act 10845, or the Anti-Agricultural Smuggling Act of 2016. (Read the BusinessMirror report, “PBBM certifies as urgent bill vs agri economic sabotage,” September 22, 2023).

“The need to facilitate the passage of this important piece of legislation is imperative, especially now that the country is beset by rising prices and shortages in agricultural products partly due to nefarious acts of smuggling, hoarding, profiteering, and cartel,” the letter read.

SB 2432 mandates the creation of the Anti-agricultural Economic Sabotage Council. It also defined the crime of agricultural economic sabotage, which will include smuggling, hoarding, profiteering, and cartel of agricultural and fishery products. Those engaged in the said illegal acts will face stiff penalties, including life imprisonment and a fine of thrice the value of the agricultural and fishery products.

“When the offender is a juridical person, criminal liability shall be attached to all officers who participated in the decision that led to the commission of the crime, with a penalty of perpetual absolute disqualification to engage in any business involving importation, transportation, storage and warehousing, and domestic trade of agricultural and fishery products.”

Assuring the Filipino people that his administration is working hard to boost the country’s agricultural production, Marcos said the government will not falter in finding solutions to the country’s agricultural issues without hurting the needs of Filipino farmers and retailers. “The recent months have truly been challenging. However, we continue to find the best solutions to the issues that we face without compromising the needs of our farmers and retailers,” he said in his speech at the 51st anniversary of the National Food Authority on Tuesday.

We commend the President for working with Congress to address the sensitive issue of soaring rice prices. The people want to see him succeed in his fight against the powerful rice cartel and hoarders who keep on manipulating the prices of rice, sugar and onions. It would do well for the administration to also empower the Philippine Competition Commission to check industry players and dismantle the rice cartel.

Soaring rice prices and food shortages have contributed to past unrest in other countries. Apart from the rice riots earlier mentioned, surging wheat prices helped spark the Arab Spring that toppled rulers in Tunisia, Egypt, Libya, and Yemen.

We don’t want to see any form of social unrest, much less a rice riot, in the country. That’s why it’s important for the government to heed the UN’s warning that “high rice prices bring risk of social unrest.”

The ultimate solution to high prices of rice is to invest in our rice farmers and help them improve their production. This will create jobs and cut our poverty rate. More importantly, it will also help strengthen the country’s long-term food security.

2024: First look

John Mangun

OUTSIDE THE BOX

CHineSe new Year falls on February 10, 2024, beginning the Year of the Dragon, the wood Dragon to be precise. What might we expect?

The dominant story of 2024 will be the US presidential election with the crescendo building towards November 5. At this time, no one knows who the eventual candidates might be. Incumbent Joe Biden and former president Donald Trump may make a rematch of 2020. The current polling shows at best a statistical tie.

At the worst, a new survey made by the Jeff Bezos Amazon Washington Post showed Trump—at 51 percent—with a 10-point advantage. This was so far off the narrative that “The Washington Post said Sunday that its poll with ABC News showing former President Trump beating

Most people do not have any idea how corrupt and crooked US politics—especially during election season—actually is. It is not just the vote cheating that would make even the worst South American or African dictator blush with embarrassment. Anything is possible and even probable.

President Biden is likely an ‘outlier,’ citing other polls that show the two candidates in a dead heat.” Things are pretty bad when you have to discredit your own survey. No word if anyone on the WaPo polling staff has been fired.

Most people do not have any idea how corrupt and crooked US politics—especially during election season—actually is. It is not just the vote cheating that would make even the worst South American or African dictator blush with embarrassment. Anything is possible and even probable.

For example: Biden has never had

net positive approval ratings. But in October 2021 with approval tanking with increasing gasoline prices, Biden started draining the Strategic Petroleum Reserve to lower crude oil prices. At the time the SPR held 656 million barrels. But his ratings increased slightly. Now the SPR stands at the lowest level since 1983 at 351 million barrels. And US gasoline prices are up 20 percent this year. But anything is acceptable to support The Political Class.

Therefore, the question becomes, what will the Federal Reserve do to “help” the Biden administration and Democrat party for the 2024 election?

Paradigm shift at MIAA needed

Thomas M. Orbos

STREET TALK

Speaking of The Fed, Chair Jerome Powell seemed to indicate that the committee is approaching the end of the rate hiking cycle even as inflation is still double the target. In truth, it is only people with home mortgages, credit card bills, and those who worry about the price of food—the ordinary folks in the lower and middle economic groups—that are hurt by high interest rates.

Total US government debt jumped by $100 billion in one week with $14.3 billion per day being added to US debt over the last week. Add in $3 billion per day of interest expense and that’s over $17 billion per day. It’s all good though since that extra money is great for the stock market and the banking community. And someone—not The People, of course—must pay for election campaigns and then receive the benefits. The worry for the Philippines is not high interest rates. Our inflation is tagged to oil prices, and there is little relief in sight. I am forecasting $100 plus per barrel by year-end. That will keep inflation unhappily high in the Philippines and dampen

See

where the one strike policy should be a given every time an infraction is committed, it should be at this environment.

Remember that line “not a whiff of corruption”? That has more urgency and relevance in this arena.

JuST

this weekend, another report of theft by an airport security officer was caught on CCTV a few days after the much mediacovered dollar-swallowing incident by a lady airport personnel. There was also that “minor” explosion at the airport parking area in what is supposed to be one of the most secure places in the country. What’s happening with MiA A? is there a breakdown of law and order in our premiere gateway? We all have our negative airport experiences including the long lines, power outages and the exceptionally unfortunate incidents of lost baggage and petty corruption. Whatever is the case, all of these incidents, including the “laglag bala” of the past and the persistent report of human trafficking, leave a continuing black mark on our premiere airport.

And it is not all about infrastructure. Yes, the Manila airport is as old as it looks from the time the senior Marcos modernized it in the early ’70s. There are older airports globally that function well, such as the aging but very much efficient airports of Taipei, Macau and Busan. No-frills but efficient, just like the state-of-the-art airports of Changi, Hongkong and Soekarno-Hatta of Indonesia. So even if we expect modernization to kick in with a PPP for the airport, an infrastructure overhaul might not assure us of a Manila airport efficiently at par with its neighbors.

Is it the organizational set-up? Maybe yes, as any organization that

is made up of 22 independent agencies may lead to a disconnect and discord. Streamlining operations is a very difficult task under such conditions, but doable. Would an organizational change suffice? Not guaranteed. Besides, other international airports in other countries have the same challenge yet remain to be far efficient and seamless. European and American airports run in the same manner, yet are very much functional.

Is it about leadership? Resignation or a change at the top when shortcomings or failure of performance occurs is a rare exception in our Philippine bureaucracy, but it does not guarantee that the air-

port arena will turn a new leaf for the better. It would definitely help though that choosing our airport leaders, especially the General Manager, veer away from being political assignments and be more a case of appointing professionally capable managers to run such a complex and demanding institution. But even so, MIAA leadership may not be the issue here.

My two cents worth: More than infrastructural, organizational and leadership change, there’s a need for a paradigm shift in terms of work culture and attitude, specifically on how people who work in our premiere airport perceive their work to be, and why they are there.

Whoever they may be, whatever position they occupy, and whatever agency they represent, government personnel at our premiere airport need to realize that they are literally our front liners, the forward ambassadors, and that their actions or misactions speak so much of the kind of people, government and country we have.

Indeed, those assigned at the airports should be a cut above the rest but without the sense of entitlement and power. Airport personnel, aside from their professional pursuit, must have a sense of public service—of accountability and of integrity. It should be that those manning our airports undergo background checks prior to their posting, as well as periodic integrity tests and constant refresher on accountability. And if there is a place

To achieve this, politics must not play a part in securing these supposedly juicy airport positions.

Whom you know and who you are must not be one’s qualification. It is a harsh but basic step, spoonfeeding airport personnel on their true reason-for-being why they are there. But from all these humiliating incidents happening there, it looks like such a reminder on what public service really means is a necessity at this point.

The airport is a microcosm of a country and how it is managed reflects so much on our national affairs. And no matter our efforts on shoring up our image internationally, all of these will go to waste when we seem to have no integral control on our doorways. Past administrations have tried countless times to facelift MIAA. There is even that notion that once our airports are privatized, gone will be the chaos and shame that we have right now. I don’t think so—unless a paradigm shift on the character of our airport personnel occurs, which will lead to a true spirit of public service, accountability and integrity flying high at our premiere Manila airport.

The author may be reached at: thomas_orbos@ sloan.mit.edu

BusinessMirror

World’s biggest stocks owner calls out Big Oil as carbon levels go up Armenia

says ‘ethnic cleansing’ happening in Karabakh region

By Bloomberg News

ArmeniAn Prime minister nikol Pashinyan told top Us officials that “ethnic cleansing” is taking place in nagornoKarabakh as the exodus of people fleeing to his country from Azerbaijan accelerated.

“The ethnic cleansing of Armenians of Nagorno-Karabakh is underway, that’s happening just now,” Pashinyan told US Agency for International Development Administrator Samantha Power and Acting Assistant Secretary of State Yuri Kim at talks Monday. “This situation and tensions in our region continue to grow, and now it is very important to take concrete measures to prevent further escalation and even bigger problems.”

The number of “forcibly displaced” people entering Armenia from Nagorno-Karabakh exceeded 28,000, the government in Yerevan said Tuesday. That represents almost a quarter of the 120,000 Armenians that local officials have said live in Nagorno-Karabakh.

An explosion at a fuel depot in Nagorno-Karabakh’s main city, Stepanakert, as people sought gas for vehicles to leave the region added to the misery. The Health Ministry of Armenia said the blast late Monday killed 68 people.

Azerbaijani President Ilham Aliyev has called for Armenians in the territory to stay, saying their rights will be protected and living standards improve. “Armenians in Karabakh are our citizens,” he said in a September 20 address to the nation.

Power and Kim traveled to Armenia’s border region of Goris on Tuesday to meet officials coping with the flood of people leaving NagornoKarabakh after Azerbaijan took full control of the enclave in a military operation last week that effectively ended a bitter territorial conflict.

Power told reporters at the border crossing that Azerbaijan had created “excruciating” conditions for people in Nagorno-Karabakh by blocking the Lachin road linking the region to Armenia for nine months before the military attack. She said the US will provide $11.5 million in aid to assist people who’ve fled the region.  US Secretary of State Antony Blinken spoke by phone with Aliyev and urged him to provide humanitarian access and to allow entry for an international observer mission. He said Azerbaijan should also refrain from further hostilities in NagornoKarabakh, according to a State Department readout.

The European Union announced it will give Armenia 5 million euros in aid. It hosted talks Tuesday between Aliyev’s foreign policy adviser, Hikmet Hajiyev, and Armenian National Security Secretary Armen Grigoryan ahead of a possible meeting between the president and the prime minister in Spain next week.

Azerbaijan opened its airspace to allow Armenian medics to fly to Nagorno-Karabakh to help treat people injured in the fuel blast, the Caliber news service reported. The Emergencies Ministry in Baku said an ambulance was sent to Stepanakert

Mangun . . .

continued from A14

economic growth. However, there is little that can be done about it. Some will use it as an opportunity to whine and moan, but it is unlikely that there will be any relief from higher oil prices until into 2024. Having said that, we may see the producers give substantial discounts to Asian customers. Saudi and Russia care nothing about US demand destruction because of higher prices. Any excess production will be easily sold to China.

Perhaps as early as the beginning of the second quarter 2024, US interest rates will begin to decrease. This

The number of “forcibly displaced” people entering Armenia from Nagorno-Karabakh exceeded 28,000, the government in Yerevan said Tuesday. That represents almost a quarter of the 120,000 Armenians that local officials have said live in NagornoKarabakh.

with medical equipment, local hospitals were put on standby to receive patients, and 15 fire engines were dispatched to help fight the blaze.

The struggle for control of Nagorno-Karabakh, which has a largely Armenian population but is internationally recognized as part of Azerbaijan, has killed tens of thousands and turned more than 1 million into refugees. The region’s Armenian population declared independence as the Soviet Union collapsed and controlled the territory until Azerbaijan took part of Nagorno-Karabakh and reclaimed seven surrounding districts in a 2020 war with Armenia that ended when Russian President Vladimir Putin brokered a cease-fire.

Putin and Iranian President Ebrahim Raisi had a “thorough exchange of views” on the situation in Nagorno-Karabakh and relations between Armenia and Azerbaijan in a phone call Tuesday, the Kremlin said in a statement.

Officials from Baku and Armenian representatives from Nagorno-Karabakh have begun talks on integrating the territory into Azerbaijan as part of an agreement that ended last week’s fighting. Nagorno-Karabakh has pledged to “completely disarm” its defense forces and accept rule by Azerbaijan under the accord.

At their meeting in Yerevan, Power handed Pashinyan a letter from President Joe Biden that promised “strong” US support for a “durable regional peace that maintains your sovereignty, independence, territorial integrity, and democracy.”

That’s amid spiraling tensions between Armenia and its traditional ally Russia, which accused Pashinyan of “unacceptable attacks” after he criticized Moscow for failing to aid the country against Azerbaijan.

“The Yerevan leadership is making a huge mistake by deliberately trying to demolish Armenia’s multifaceted and centuries-old ties with Russia and making the country hostage to the geopolitical games of the West,” the Foreign Ministry in Moscow said Monday.

Aliyev and Turkish President Recep Tayyip Erdogan also met Monday as Baku presses for a “corridor” across southern Armenia to Azerbaijan’s exclave of Naxcivan. Erdogan reiterated his support Tuesday for Aliyev’s demand, which Armenia has rejected. Bloomberg

will be positive for the Philippines but not for the reasons you might expect.

The BSP is not keeping interest rates high here to reduce inflation. Rates are high to help support the Philippine peso. But note a fact that the “Peso Panic People” cannot seem to find. Since October 3, 2022, the peso has appreciated 3.4 percent against the US dollar. By comparison, Thai baht up 3.2 percent and Indonesian Rupiah increased by 1.5 percent. And the future for the USD looks weaker when its interest rates decline. The wood Dragon is on the way. E-mail

By Tim Quinson

Asenior executive at norway’s sovereign wealth fund, which owns a larger share of global stocks than any other investor, says Big oil’s transition strategy isn’t holding up as carbon emissions continue to rise.

“The oil and gas industry, as a whole, clearly isn’t doing enough to cut emissions,” said Carine Smith Ihenacho, chief governance and compliance officer at Norges Bank Investment Management. “Currently, there’s a long way to go, as global emissions are still going up.”

The criticism comes as some of the world’s biggest oil companies double down on their core business and Brent crude inches toward $100 a barrel. Meanwhile, producers attending a recent petroleum summit lashed out at the International Energy Agency for its unequivocal warning that the industry needs to stop developing new oil fields if the planet is to limit global heating to the critical threshold of 1.5C. Such talk, according to the oil executives present, politicizes the climate debate.

For investors trying to align their portfolios with the goals of the Paris climate agreement, such develop-

ments represent a worrying shift in the wrong direction.

“The whole energy system needs to change, with companies taking bigger strides to reduce their use of fossil fuels in favor of renewableenergy sources,” Smith Ihenacho said. “At the moment, companies aren’t making the transition at a fast enough pace to achieve net zero by 2050.”

A number of Wall Street heavyweights, meanwhile, are declaring their unwavering commitment to Big Oil. Speaking Monday at the American Energy Security Summit in Oklahoma City, Goldman Sachs Group Inc. Chief Executive Officer David Solomon defended the need to support fossil fuel companies, dismissing demands from climate activists to restrict their access to finance.

“Traditional energy companies are hugely important to the global economy, they are hugely impor-

tant to Goldman Sachs,” he said. “We are all going to continue to finance traditional companies for a long time.”

According to Smith Ihenacho, it’s up to the world’s largest investors to pressure companies and ensure they have proper transition plans. That applies not just to fossil fuel companies, but across high-carbon industries including cement, steel, chemicals, transportation and construction, she said.

“Let’s be clear, the energy transition is about much more than oil and gas,” Smith Ihenacho said.

The reality is that just 23 percent of the companies in which Norway’s $1.4 trillion wealth fund invests have credible net zero targets, she said.

The fund held roughly 1 percent of Exxon Mobil Corp. and Chevron Corp. at the end of last year, and about 3 percent of Shell Plc and BP Plc as recently as last month, according to the latest data compiled by Bloomberg.

BP and Shell are among companies that actually have “fairly extensive transition plans, and we are watching to see how the industry follows through on those plans,” Smith Ihenacho said.

And divestment isn’t on the cards; instead, the goal is to apply pressure

Fake coordinates and tanker tricks expose shadowy Russian oil trade

By Alaric Nightingale

on a sunny day off the southern coast of Greece last week, two aging tankers nestled next to each other while one pumped oil to the other. As far as global satellite tracking systems could tell, it never happened.

The deviation between real and electronic locations—measured in this case at over four miles—wasn’t a glitch, but a deliberate deception that’s part of a sophisticated system to keep sanctioned Russian fuel flowing, often at prices that are higher than western powers would like.

The practice of giving fake coordinates to the automatic identification system, known as AIS, is called spoofing. It muddies understanding of where cargoes come from, soothing nervy buyers trying to conceal dealings with Russia following international measures to punish the country over its invasion of Ukraine.

The 800-foot Turba was one of the tankers engaged in the secretive maneuvers just a few miles from a pretty Greek coastal town on Sept. 19, according to Bloomberg observations and satellite data. Built 26 years ago—meaning it would normally have been scrapped by now—the vessel has become a potent symbol of Russia’s efforts to maintain its petroleum trade.

Back in May, the Turba drew regulatory ire due to its age, poor inspections record, mysterious ownership

details and for flying the flag of Cameroon, a nation blacklisted by an international organization promoting safe shipping.

Following Group of Seven sanctions, Russia amassed a huge fleet of shadow tankers—often older ships like the Turba. The restrictions barred European Union member states from purchasing Russian petroleum and simultaneously prevented the bloc’s companies, especially insurers and tanker firms, from aiding in transportation. But once those vessels are in international waters—like off the coast of Greece—the scope to control the activity diminishes.

Estimates vary, but at least half of Russia’s oil is thought to flow out through shadow-fleet tankers like the Turba.  Spoofing is a well-known practice for cargoes of oil where there’s a desire to conceal activity. While it’s frowned upon by regulators—and ships aren’t allowed into European ports if they do it—it is entirely legal in international waters, and companies offer the service openly on the Internet.

The G-7 granted exemptions for

handling Russian oil and fuel traded at or below fixed levels—$60 a barrel for crude and $100 for premium refined fuels like gasoline and diesel. However, soaring prices have pushed much of the nation’s petroleum above those thresholds, meaning that companies currently engaging in the service would raise questions about sanctions violations.

To spoof, somebody, somewhere would have a piece of hardware that sends out fake location signals while the vessel’s actual transponder is switched off by its crew.

Last week, the Turba’s false signals were captured and monitored on numerous well-known tracking systems, including one hosted by Bloomberg. It appeared to be miles from the Simba, another relatively old rust-covered tanker, but in reality, they were side by side in the Laconian Gulf, Bloomberg observed while visiting the area to monitor shipping activity.

“This kind of opaque transfer so close to European shores implies that the financial transaction for the cargo is above the price cap,” said Samir Madani, co-founder of TankerTrackers.com Inc., which followed the same shipment and also traced the original cargo back to Russia.

Attempts to reach the owners of the Turba and the Simba were unsuccessful. Three international shipping databases offer no means of contacting the owners or operators, and four brokers contacted by Bloomberg also

from within, she said.

That engagement strategy covers a portfolio comprised of more than 9,000 companies. During the most recent proxy season, Norway’s wealth fund backed about 35 percent of shareholder resolutions, which is a far larger percentage than industry rivals like BlackRock Inc. and Vanguard Group.

Smith Ihenacho said the fund regularly meets with the biggest emitters in its portfolio, which is currently a list that spans about 220 companies. “Investor pressure, consumer pressure and litigation pressure are having some impact, but the climate crisis can’t be solved by the business alone,” she said.

The wealth fund recently published an 18-page paper outlining how it expects its portfolio companies to manage the climate transition. It wants firms to disclose how climate risks are impacting their operations, which includes reporting all their greenhouse gas emissions. Companies are also expected to commit to achieving net zero by 2050 or sooner, to set interim emission reduction targets, and produce quantifiable energy transition plans. With assistance from Kari Lundgren and Stephen Treloar / Bloomberg

didn’t have details.

The Laconian Gulf, about 110 miles southwest of Athens, has emerged as an important shipping hub for Moscow following sanctions. Other sites include Ceuta, a Spanish exclave on the Moroccan coast, and sometimes even deep in the Atlantic Ocean.

Under the practice, tankers would transfer Russia-origin cargoes from one ship to another. The precise reasons for any individual transfer are never clear, but the moves add a degree of separation and obfuscation for those ultimately purchasing the consignments. The switching had appeared to die down recently— especially near Ceuta—after Russia scaled back its oil and fuel exports to drive up prices.

But Bloomberg’s observations show that the Laconian Gulf remains important. On Tuesday last week, three ship-to-ship transfers were taking place—all apparently involving refined fuels rather than crude—and about a dozen tankers were waiting.

The Simba had collected Russianorigin fuel from another vessel off the coast of Romania earlier this month, according to satellite imagery gathered and inspected by TankerTrackers.com. It then sailed via the Bosphorus for its rendezvous with the Turba. Kpler, another analytics firm, said the cargo was oil products.  With assistance from Julian Lee, Angus Bennett and Alex Longley/Bloomberg

India’s clash with Canada threatens to hurt trade, investment

By Shruti Srivastava

CANADA-INDIA ties have deteriorated since Prime Minister Justin Trudeau accused New Delhi of orchestrating the assassination of a Sikh separatist leader in British Columbia. Now, the diplomatic standoff threatens to spill over into their economies.

A proposed early-stage trade deal is in jeopardy, potentially hurting India’s efforts to woo the West and serve as a supply-chain alternative to China. India’s access to Canadian potash, a key nutrient for crops, may get affected.

Indian students may start avoiding Canada for higher education after New Delhi issued a safety advisory on the country for “anti-India” activities. This could affect a sector that brings in about C$22 billion ($16.3 billion) annually in revenues for Canada. Both nations have already expelled senior diplomats from the other side in a

tit-for-tat escalation. Canada plans to reduce embassy staff as security threats rise in the South Asian country while New Delhi stopped issuing visas to Canadian citizens.

Here a look at what’s at stake:

Immigration

Indians make up nearly a fifth of immigrants to Canada, the highest share from a single place of birth since 1971, according to government data. However, remittances from Canada were less than 1 percent of the total flowing into India and this is in part due to immigrants permanently settling down in Canada and bringing over their families.

Immigration accounts for 90 percent of Canada’s labor force growth as there is fast aging working population.

A sizable number of Indian immigrants to Canada are Sikhs from Punjab state in India. Sikhs account for 1.7 percent of India’s population and Canada has the highest numbers

of Sikhs outside of the South Asian country.

Higher education

Indians account for the most number of international students doing their higher education in Canada. In 2022, they made up over 28 percent of the total foreign students, according to local media in Canada.

Higher education is a significant sector contributing to more than 15 percent of Canada’s services exports annually. The latest available data by Global Affairs Canada shows that international students alone contributed 1.3 percent to Canada’s gross domestic product in 2019.

Trade Trade between the two nations stood at $8.16 billion in 2022-2023, dwarfing in comparison to $128.7 billion in India’s bilateral trade with the US. However, India depends almost entirely on imports for its pot-

ash needs, and buys a large amount of the crop nutrient from Canada, the world’s biggest exporter. Supplies from Canada have become increasingly important as sanctions have disrupted trade and expansion plans for Russia and Belarus. The current frostiness may impact that. India’s major exports to Canada include pharmaceuticals, iron and steel products. The nations were negotiating an early-stage trade deal before the talks were put on pause by Canada ahead of the Group of 20 leaders summit in New Delhi. Indian officials said it was due to “political developments.”

There were no bilateral meetings at G-20 in a sign of developing tensions but both leaders had a sideline conversation. It later emerged that Trudeau brought up the allegations on the Sikh’s murder, which Modi had responded with criticism on Canada becoming a safe haven for separatist groups. Bloomberg

DOE: OIL PRICES SHOW SIGNS OF COOLING, BUT MARKETS STILL VOLATILE

By Lenie Lectura @llectura

THE Department of Energy (DOE) is closely monitoring movements in the international oil market as oil prices are showing signs of cooling in early trade on Wednesday.

T he agency, according to Secretary Raphael Lotilla, observed a downward trend in petroleum prices. However, the trend may still vary as there are three more trading days for the week.

“But, of course, you know that it is volatile and we have to always be ready because we are already moving towards the winter months, normally prices will increase. We have to manage our expectations that this will continuously go down because there are a lot of external factors involved,” Lotilla said.

L ast week, oil firms reduced pump prices after more than two months of price increases.

Baka akyat-baba yung presyo dahil sa external factors. So we must continue to save on unnecessary trips outside of the house, let us use mass transport systems para maka-tipid tayo of these expenses,” added the energy chief.

L ocal oil firms adjust prices every week to reflect movements

in the world oil market. Since the Philippines is a net oil importer, any spikes in international oil prices push up local pump prices.

T he series of upward price adjustments in the past 11 weeks were triggered by global production cuts recently implemented by the Organization of the Petroleum Exporting Countries (Opec). Saudi Arabia and Russia have extended their oil export cuts by one million daily and 300,000 barrels per day, respectively.

Bloomberg reported last Tuesday that oil supplies from the Persian Gulf are set to tighten further as Oman and Bahrain expand refining capacity, consuming more regional crude to produce fuels like diesel for export.

T he new Duqm refinery, a joint venture between Oman and Kuwait, has begun exporting the first cargoes of refined products, according to people familiar with the matter. Traders expect the 230,000 barrel-a-day facility to be running at full capacity by the start of next year.

Ba hrain is also expanding its Sitra refinery, boosting the 87-yearold crude processing plant’s capacity to about 400,000 barrels a day from 267,000 a day now. With a report from Bloomberg News

Pinoys now prioritize mental health–study

MORE Filipinos are prioritizing their mental health as they became more aware of their overall well-being during the Covid-19 pandemic, according to a study commissioned by an insurance company.

A study by the Economist Impact, commissioned by Pru Life UK, showed that the attention of Asians, including Filipinos, to mental health as part of having healthier lifestyles is “on the rise.”

“ Emotional and mental health have risen to second spot on people’s priority list and cited as the top way to improve our behaviors is spending more time with family,” Gillian Parker, Principal and Sustainability Lead for APAC Policy and Insights of Economist Impact said in a press briefing on Wednesday.

However, the study indicated that Asians seem to “lack” awareness about the “risk” of chronic diseases. “ Experts say popular awareness of the benefits of healthier lifestyles—including attention to mental health—is on the rise, but also warn of a lack of awareness about the risk of chronic diseases,” Parker said.

Pru Life UK Executive Vice President & Chief Customer and Marketing Officer Allan M. Tumbaga said it is “not worrisome” that Filipinos are more aware of mental health than of chronic diseases.

Tumbaga said Filipinos have long been aware of the risks of chronic diseases, noting that “it has always been there.”

“ Noncommunicable diseases have always been there and people are aware. It just so happened that mental health became the focus because of the pandemic,” he told the BusinessMirror on the sidelines of the launch of Pru Life UK’s commissioned study.

So it just became very pronounced during the pandemic. It’s good that we become more sensitive to this,” he added.

Tumbaga noted that the heightened awareness on mental health

‘Tariff cuts could slash rice farmers’ income by ₧8/kg’

By Jasper Emmanuel Y. Arcalas @jearcalas

I n its position paper submitted to the Tariff Commission, the DA expressed “reservation” in supporting the proposal by the private sector to reduce the tariff on rice imports due to various factors.

For one, the agency said lower tariffs would pull down the domestic farmgate prices of paddy rice or palay.

C iting its analysis, the DA said reducing rice tariffs to as low as 10 percent would slash farmgate prices by about P6 per kg.

T he drop in farmgate prices is the result of the projected reduction in wholesale rice prices, which was estimated at an average of P9 per kg at a tariff rate of 10 percent, according to the DA.

By rule of thumb where wholesale price is twice their farmgate price, the proposed tariff reduction may pull down farmgate prices of palay by about P6 per kg,” read the DA’s position paper dated September 25, a copy of which was obtained by the BusinessMirror

T he DA said the lower farmgate prices of dry palay would translate into lower profit margin for Filipino rice farmers.

R ice farmers stand to lose P7.82 for every kilogram of palay they produced, considering that the production cost is now at P13.55 per kg.

At an average yield of 4.06 metric tons (MT) per hectare, rice farmers’ income per hectare would fall to

P31,700 from P55,400 or a difference of P23,700, according to the DA’s paper.

Worse, the DA’s paper indicated that the projected profit losses of rice farmers would even be bigger if world rice prices fall below current market levels and are only levied with a 10 percent tariff.

The analysis also implies that farmers will have narrower profit margin at 10 percent tariff rate should world prices fall below $614 per MT for 5 percent broken rice and P584 per MT for 25 percent broken rice given their current production cost of P13.55 per kg,” the position paper read.

Furthermore, the DA sounded the alarm about the tariff revenue losses that the national government would incur if the rice tariff would be lowered. This, the agency said, will translate into a smaller fund that will be alloted for cash assisdtance for rice farmers.

T he DA estimated that the state would only be able to collect P6 billion in rice tariffs if the tariff rate is reduced to 10 percent, based on the assumption that the import volume would be the same as last year when it reached 3.8 million metric tons (MMT).

This will be about P15 billion less than the tariff revenue gained in 2022. This means fewer funds, possibly none in excess of P10 billion, will be made available for the Rice Farmer Financial Assistance [RFFA] or other programs/activities as provided for in the [rice trade liberalization law] in 2024 and beyond,” the agency said.

T he RTL law created the rice competitiveness enhancement fund (RCEF) that would earmark P10 billion for the development of the rice industry even if rice tariff collections fall below P10 billion. However, if the national government will not collect any excess rice tariff collections beyond P10 billion, then the cash assistance program for rice farmers will not be funded.

Under existing laws and regulations, the RFFA gets its fund from the rice tariffs collected in excess of P10 billion.

‘Sufficient stocks’

THE DA also warned that the “intent” of the proposed rice tariff reduction to make “available more affordable rice” may not take effect “immediately.”

Continued on A2

provides an opportunity for insur -

ers like Pru Life UK to consider developing a product that would address the Filipinos’ growing life needs.

Of course we are always considering a specific product for such cases. We would always plan to be able to provide for all our customers,” he said.

P ru Life UK Vice President for Government Relations and ESG Maricel Estavillo admitted that mental health remains a “barrier” to insurance and financial inclusion.

“ So that’s why it’s a topic that we’re very much invested in. It’s one of our priority advocacy topics,” Estavillo said.

Because when you talk about like a suicidal person, for example, that’s really hard to cover, it’s hard to protect by an insurance product because even though we are able to issue a policy to a person suffering from a mental health disease, you will have a problem when it comes to claims,” she added.

E stavillo said insurance products cannot “really cover” mental health illnesses, noting that “prevention” is the “best way” to address such health issues.

Tumbaga said digital technology, such as the use of apps, can help insurers in providing more information to their clientele about mental health.

T he Economist Impact study showed that 75 percent of Filipinos are using mobile apps like free health and fitness apps, in managing their health and well-being. The study noted that the most popular health apps for Filipinos were step trackers, women’s health apps, calorie counters, pulse and heart-rate monitors, doctor consultation services and blood pressure monitors.

T he Philippine study also revealed that free health and fitness apps were popular among Filipinos. Notably, one-third of respondents indicated that the increased availability of mobile health apps would motivate them to engage in healthier activities.

Jasper Emmanuel Y. Arcalas

House approves anti-agri smuggling measure

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representatives has approved on third and final reading the measure strengthening the Anti-Agricultural Smuggling Act by imposing the penalty of life imprisonment on smugglers of agricultural products.

W ith 289 affirmative votes, lawmakers passed late Tuesday House Bill (HB) 9284, or the Anti-Agrifishery Commodities and Tobacco Economic Sabotage Act of 2023, which has been certified as urgent by the President.

T he bill will be transmitted to the Senate for its own deliberations.

H B 9284 would amend Republic Act (RA) 10845, or the Anti-Agricultural Smuggling Act of 2016, to include the smuggling of agrifishery commodities and tobacco

products as economic sabotage.

T he bill refers to economic sabotage as any act or activities that undermine, weaken, or render into disrepute the economic system or viability of the country or tend to bring about such effects, particularly for this proposal.

T he measure added that the crimes of large-scale agri-fishery commodities or tobacco hoarding, profiteering, cartelizing, and other acts of market abuse as economic sabotage, involving agri-fishery commodities in their raw state or which have undergone the simple processes of preparation or preservation for the market, such as freezing, drying, salting, broiling, roasting, smoking, or stripping, with a minimum aggregate fair market value of P2.5 million, or involving tobacco with a minimum of excise tax and VAT payable in the amount

of P1 million.

It said agri-fishery commodities refer, but are not limited, to rice, sugar, corn, pork, poultry, beef, lamb, garlic, onion, carrots, cruciferous vegetables, coconut, coconut oil, palm oil, palm olein, wheat, fish, and shellfish.

T he bill provides a penalty of life imprisonment and a fine of six times the fair market value of agrifishery commodities or tobacco subject to large-scale smuggling, hoarding, profiteering, cartelizing, and other acts of market abuse, and the aggregate amount of the taxes, duties, and other charges avoided plus interest at the prevailing legal rate shall be imposed on entities who commit any of the acts numerated under this proposal.

T he bill proposes increased penalties, including a minimum imprisonment period of 20 years

(up from the current 12 years) and a monetary fine of six times the fair market value of the commodities involved in illicit activities (up from the current two times). Public officials, individuals, cooperatives, associations, corporations, and non-government organizations directly involved in or facilitating smuggling, hoarding, profiteering, and cartelizing of agri-fishery commodities and tobacco may face 20 years to life imprisonment.

T he bill also establishes the AntiAgro Fishery Commodities and Tobacco Economic Sabotage Council to oversee the implementation of the law.

Speaker Ferdinand Martin G. Romualdez said this bill will help realize President Marcos’ aspirations of affordable produce and food selfsufficiency, saying “Its unanimous passage speaks volumes.”

PLANTERS could lose almost P8 per kilogram due to the decline in farmgate prices if the proposed reduction in tariff was approved, according to the Department of Agriculture (DA).

ATTY. Don Artes, the Acting Chairman of the Metro Manila Development Authority, spearheaded the inauguration of the Motorcycle Riding Academy alongside GSIS President Wick Veloso, Pasig City Mayor Vico Sotto, Batangas City Vice Governor Mark Leviste, and other key stakeholders, including representatives from Honda Philippines, Angkas, and JoyRide. The academy, situated beside the Renaissance Center on Meralco Avenue in Pasig City, is designed to reduce motorcycle-related accidents by offering comprehensive theoretical and practical motorcycle riding courses. This two-day training program, which can accommodate up to 100 participants per batch, is completely free. ROY DOMINGO

Editor: Jennifer A. Ng

Thursday, September 28, 2023

SEC to use ownership data vs corruption, tax evasion

By VG Cabuag @villygc

is different from legal owners as beneficial owners may directly or indirectly have the power to vote or influence transaction decisions of the company, even without them being reported as a stockholder, member, director or officer.

NGCP sees project finished 2 yrs early

By Lenie Lectura @llectura

The SEC requires the declaration of beneficial owners in the general information sheet through SEC Memorandum Circular 15 (series of 2019).

“Beneficial ownership plays an important role in detecting indicators of bid rigging and conflicts of interest during the procurement process,” SEC Chairman

Smart, DOTr ink MOA for EDSA project

SMART Communications Inc. (Smart) signed a Memorandum of Agreement (MOA) with the Department of Transportation (DOTr) in support of the EDSA Greenways Project.

The MOA covers the relocation of Smart’s utilities and cables affected by the construction of elevated walkways on the metropolis’s main thoroughfare, including footbridges in Balintawak, Cubao, Guadalupe and Taft. These pedestrian structures seek to address the needs o f the elderly, persons with disabilities (PWDs), women, and people travelling with children by connecting MRT and LRT stations to it.

“We welcome this opportunity to work hand-in-hand with [the] government to help boost the country’s economy and improve the quality of life of our c ountrymen, while ensuring that we are able to continue serving our subscribers and keep them connected,” said PLDT an d Smart President Alfredo Panlilio, a founding member under the Digital Infrastructure pillar of the Presidential Private Sector Advisory Council (PSAC).

P resent during the MOA signing held at the DOTr headquarters in San Juan were DOTr officials led by Transport Secretary Jaime J. Bautista, Smart executives led by FVP and Network Head Eric S. S antiago, and representatives from other telcos.

“Our goal is to have a smooth relocation of utilities and cables in areas where t he project will be constructed. I cannot overemphasize the value of the EDSA Greenways Project in providing sustainable m obility options,” said Bautista, adding that the DOTr appreciates the collaboration of the Department of Labor and Em ployment, Philippine National Police, PLDT and Smart and other telcos in the success of the transport project.

In its quarterly report, Smart parent PLDT Inc. said Smart’s payment for p urchase of property and equipment, including capitalized interest, increased by P 14,129 million, or 65 percent, to P35,712 million for the six months ended June 30, 2023 from P21,583 million in the same period in 2022. Smart’s capex spending was primarily focused on LTE (4G) coverage and capacity expansion, and rollout o f new sites and 5G base stations in key business areas and dense communities nationwide, PLDT said.

PLDT added that Smart’s total subscribers decreased by 9 percent as at June 3 0 to 62,953,818 from 69,398,133 last year. Lenie Lectura

Emilio B. Aquino said. “As such, it is important that we ensure there are few avenues for corrupt individuals to take advantage of the system.”

A beneficial owner is a natural person who ultimately owns or exercises ultimate effective control over a corporation and benefits from such structure. This

The SEC and the UNODC organized a focus group discussion on beneficial ownership data use in public procurement. Participants included officers from the Office of the President, Philippine Competition Commission, House of Representatives, Office of the Ombudsman, Philippine Government Electronic Procurement System and the Technical Support Office of the Government Procurement Policy Board (GPPB-TSO).

The discussions mainly focused on the application of beneficial ownership on public procurement, emphasizing the importance of data in mitigating corruption and improving the decision-making process of the procurement lifecycle.

Last year, the SEC signed a

data-sharing agreement with the GPPB-TSO as part of its commitment to enhance public procurement and beneficial ownership transparency.

The SEC has also partnered with the Bureau of Internal Revenue to explore use of beneficial ownership data to support tax enforcement

The regulator has put forward the use of beneficial ownership data in promoting tax integrity and combating corruption.

Beneficial ownership data can be used to reveal individuals who ultimately control legal entities and aid in the promotion of tax integrity.

“Taxation is an important element of ensuring the economic stability of a nation,” Aquino said.

“Through our cooperation with the UNODC and other government agencies, we hope to find ways to limit tax evasion and aid in the economic development of the nation by maintaining tax integrity,” the SEC chairman added.

Burger King owner banks on youth

By Roderick L. Abad Contributor

PERF Restaurants Inc., the franchise owner of Burger King in the Philippines, expects a double-digit growth in terms of revenue and net income by end of 2023 as it has seen strong following from young customers.

Without citing exact figures, the head of Burger King Corp.’s Philippine business unit, John G. Velasco, said that their topline and bottomline have so far improved in the first nine months of this year as they continue to heed the market’s clamor.

“The business is actually very good and resonates well with our customers,” he told the BusinessMirror in an interview during the launch of their collaboration with a local streetwear fashion brand during an event in Makati City last Tuesday.

According to Velasco, they continue to enjoy significant growth and sales not only from

their moneymaker item but also new product lines.

The executive said the fastfood chain’s “Whopper” product “is still our biggest bestseller, enjoying a substantial portion of our sales.”

“It’s our most iconic product and it still enjoys the most sizable share of our business,” Velasco said adding that “Whopper” sales run between 30 percent and 40 percent in share to overall products sold.

The executive said they also launched a product after seeing a trend in brisk sales of chicken sandwiches and chicken burgers. Velasco said they are also seeing their “Chicken King” product as “enjoying a significant share of our business and very good performance over the past 12 months, especially the past six months, because it’s resonating with our target customers—the Gen Zs and, of course, the Millennials.”

This latest addition to the menu has been gaining a signifi -

cant share when its three variants—Regular Chicken King, Spicy Chicken King, and BLT (Bacon, Lettuce and Tomato) Chicken King—are combined.

Burger King Philippines continues to see “very good prospects” for the remainder of 2023, Velasco said.

His basis is their marketing campaign via the sale of streetfashion brand “DBTK” merchandise.

“This kind of partnership is helping us hype up our products,” Velasco said. “It also gives us the opportunity to provide platforms for up-and-coming creative local individuals who actually resonate with our own products.”

As part of their expansion plan, he revealed that they will be ending this year with around 130 plus stores from its current 128.

“We’re looking forward to further grow our business in the Philippines as the market recovers and grows further in the years to come,” Velasco said.

CREC to supply power to Cogent

CITICORE Renewable Energy Corp. (CREC) announced it will supply 7.5 megawatts (MW) to Cogent Energy, the local retail electricity supplier (LRES) arm of Clark Electric Distribution Corp. (CEDC).

Under the partnership, the supply contract will run until December 2024, or upon commercial operations of CREC’s upcoming Bato solar power plant in Palauig, Zambales. Once the solar power facility is operational, the partnership will transition into a 10-year power supply contract which will provide 30MW of CEDC LRES’ electricity needs.

T he partnership is in line with the Department of Energy’s (DOE) Renewable Portfolio Standards (RPS), mandating distribution utilities to source a portion of their energy needs from eligible renewable energy resources. This is also anchored on

the DOE’s blueprint of a renewable energy share of 35 percent by 2030 and 50 percent by 2040.

“We will help make the DOE aspiration happen through our partnership with Citicore, a well-known renewable energy supplier in the Philippines,” said Cogent Energy Officer-in-Charge Manager Erickson Montes.

CEDC adds to CREC’s growing list of partners who believe in powering a greener future using

THE NATIONAL Grid Corporation of the Philippines (NGCP) has committed to finish the Batangas-Mindoro Interconnection Project by end-2025 or two years ahead of schedule.

“NGCP has agreed to finish it two years in advance. [The] DOE [Department of Energy] requested it and [the] NGCP has been cooperative,” Energy Undersecretary Cristina L. Guevara said during a news briefing with DOE officials last Wednesday.

If and when the commitment will happen, Guevara said there will no longer be any subsidy in Mindoro in the form of the “Universal Charge for Missionary Electrification” (UCME), which is being collected by the National Power Corp. (NPC) from all electric consumers in Luzon.

“This means that there will no longer be UCME there. The UCME being collected from us will be reduced by 20 percent because 20 percent of our UCME goes to Mindoro,” the DOE official said. “It would be longer for Palawan though.”

The whole of Mindoro island has been plagued by various power issues. These include frequent power interruptions due to reliance on outdated power facilities, which had been further damaged by typhoons; heavily subsidized generation rates stemming from strong dependence on diesel and bunker fuel; delays in proposed energy projects; uneven electrification rates across provinces; and administrative issues of electric cooperatives serving the area.

The best and long-term solution to the

inefficient power supply in the Mindoro island is the interconnection of the Mindoro to the Luzon grid, which will eventually benefit Palawan.

With the planned interconnection project, Mindoro can already source adequate and reliable power supply, and access to a more competitive generation sources in the Luzon grid. Also, with a reliable transmission backbone, Mindoro may export power through the development of renewable power in the province. Further, this will fulfill the government’s direction of interconnecting off-grid areas to the main grid. Lastly, this will prepare the country to the planned Asean power grid interconnection.

The estimated cost of the project is P16.8 billion.

The power system of Mindoro Island is presently being operated by the Small Power Utilities Group of the NPC, Oriental Mindoro Electric Cooperative and the Occidental Mindoro Electric Cooperative. With the forecasted increase in the demand for Mindoro Island, the current source of power can no longer accommodate the future load requirements.

According to NGCP documents, this issue will be resolved with the implementation of the interconnection of the Luzon grid to the Mindoro grid. The interconnection would provide Mindoro with access to “a more reliable and competitive” generation sources in the Luzon Grid, the firm’s documents read.

“By being connected to the main grid, the power quality issues which result to frequent power interruption experienced by the customers will be addressed,” it added.

renewable energy. Other partners include various distribution utilities, leading commercial establishments, and major corporations throughout the country.

“Our partnership with CEDC, among others, is another step in Citicore’s continued commitment to support the government in their renewable energy transition target,” said CREC Executive Vice President Manolo T. Candelaria. Lenie Lectura

THE Securities and Exchange Commission (SEC) announced last Wednesday that it has partnered with the United Nations Office on Drugs and Crime and Open Ownership (UNODC) to harness the potential of using beneficial ownership data in curbing corruption in the government procurement process.

‘Pro-taxpayer reform’ bill ratified in both chambers

THE House of Representatives and later, the Senate, on Wednesday ratified the proposed Ease of Paying Taxes (EOPT) law.

House Committee on Ways and Means Chairman Ma. Jose Clemente

“Joey” S. Salceda said the proposed law will now be sent to President Ferdinand R. Marcos Jr. for signature as the Senate is also expected to ratify the proposal by Wednesday.

His counterpart in the Senate, Sen. Sherwin Gatchalian, reported to his peers the bicameral conference committee report on the EOPT. “This will drag the tax system out of the past century and into the Internet age. With EOPT, we now have a fully digital-ready tax system that caters to the global Filipino,” the lawmaker said.

The EOPT measure will allow taxpayers to file and pay their taxes anywhere, remove the registration fee requirement, and create micro, small, and medium taxpayer services in the Bureau of Internal Revenue on top of the existing “Large Taxpayer Service.”

Micro-taxpayers are also not required to be withholding agents to reduce their tax compliance burden.

Salceda said a P3-million VAT exempt threshold for businesses will also be adjusted annually based on inflation. “Because if we do not adjust that, more small businesses will have to pay VAT in the future,” the lawmaker explained.

Salceda said that “the most irritating and illogical parts of our tax system” were also removed.

➜ SECB gets ISMS certification

For example, he said that the BIR currently requires an annual registration fee of P500 for all taxpayers.

“Imagine. You pay to pay taxes. That’s gone with EOPT,” Salceda said. “The most annoying processes in the tax system, such as onsite transfer of registration, will now also be fully online. The authority to print receipts will also be free of charge.”

The solon added that the EOPT measure also has provisions that will benefit overseas Filipino workers (OFWs). He said the proposal makes registration facilities available for taxpayers abroad.

This is “a frequent lament because OFWs cannot register for TIN; a requirement for investing in stocks,” Salceda said. “We also exempted OFWs from having to file tax returns if they earn income solely from abroad.”

The lawmaker said that the measure will make the VAT refund system “easier, faster and more efficient.” “It’s one of the most pressing issues in our tax system. Investors have suffered greatly as a result of our onerous VAT refund process,” Salceda said.

Under the measure, the VAT refund system will take into account high, low, and medium-risk refunds to expedite the processing of claims that are not high-risk.

Salceda also noted that the EOPT measure shifts the tax system from requiring both receipts and invoices to just invoices for both goods and services “to accelerate the implementation of the electronic invoicing system.”

Jovee Marie N. Dela Cruz

SECURITY Bank Corp. (PSE:SECB) announced it received ISO/IEC 27001:2022 certification by The British Standards Institution (BSI) at an awarding ceremony at Security Bank Centre in Makati City on September 21—making it the first local bank to attain this upgraded Information Security Management System (ISMS) certification. Adopting the International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC) 27001:2022 certification standards, the BSI evaluated SECB’s information security risks in order to determine and implement a comprehensive suite of information security controls within the overall framework of a coherent management system, read a statement issued by the lender last Monday.

➜ Lender bags award for 3rd year

THE Metropolitan Bank & Trust Co. (Metrobank) announced it became “the first-ever Philippine financial institution to claim the Strongest Bank title” from a Singaporean firm for three straight years. The lender’s statement read that it considers the award given by TAB International Pte. Ltd. as “pioneering and most credible annual ranking analysis of all major banks in the Asia Pacific region based on their strongest balance sheet performance.” The lender added that assessments for a bank’s performance “are based on a detailed scorecard established by six criteria of balance sheet performance; namely, the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.”

➜ Lucio Tan named PNB chairman emeritus

LUCIO Tan has been appointed as chairman emeritus of Philippine National Bank (PNB), while his wife and bank’s board director Carmen K. Tan will join the lender’s advisory board. “The board of directors and the management of PNB extend their heartfelt appreciation to Dr. Tan for his exemplary stewardship spanning over two decades,” a statement issued by the PNB read. During his tenure, Tan supervised the successful completion of the PNB-Allied Bank merger in 2013, a milestone that elevated PNB to its current status as one of the country’s premier privately-owned commercial banks. “Driven by his visionary leadership, PNB expanded its global footprint, catering to the financial needs of millions of Filipinos overseas,” the bank said. VG Cabuag

Rejection of rice-tariffs cut seen to spare small farmers

By Jovee Marie N. dela Cruz @joveemarie

badly need to modernize their sector and raise their incomes.

Under Republic Act (RA) 11203 (Rice Tariffication Law), tariff collections from rice imports will go to the Rice Competitiveness Enhancement Fund (RCEF). Money in the RCEF must be used to finance the modernization of the rice sector and provide farmers with wider access to credit, training, mechanization, and technology, along with extending direct assistance to them.

tions to cut import tariffs on rice to help stabilize the prices of the Filipino food staple. The proposal was being pushed forward by the Department of Finance. (Story here: https://businessmirror.com. ph/2023/09/19/rice-tariff-cut-atool-vs-shortage-inflation/)

The Chief Executive pointed to projections that global rice prices would decrease soon, which meant this was not the right time to lower import tariffs on the grain.

While the government’s ultimate goal is to lower rice prices, Bicol Saro Partylist Rep. Brian Raymund S. Yamsuan said this should not be done at the expense of the country’s 2.4 million rice farmers, who are expected to harvest over 5 million metric tons of palay in the peak months of September and October alone.

“The decision of our president is right. It is easy to say that we should lower tariffs to bring in more imported rice and pull down rice prices in the market. But who will suffer the loss? Our farmers who toiled hard to plant but would not profit from it will be the ones to suffer,” Yamsuan said.

While the lawmaker admitted as

having no expertise in economics, “common sense tells us that if you flood the market with imported rice, this would lead to depressed farmgate prices at a time when our farmers are in the midst of the harvest season.”

“The band-aid solution of lowering rice tariffs at this time would be an act of grave cruelty to our farmers,” added Yamsuan, whose partylist organization represents the Bicol Region, which accounts for close to 7 percent of the country’s total rice production.

The solon added that lowering rice import tariffs would deprive farmers of a major source of assistance they

Citing government data, Yamsuan said almost P23 billion was collected in import duties from rice shipments entering the country last year. In the first eight months of 2023, the Bureau of Customs has already collected P17 billion in rice import tariffs.

“That’s P40 billion in 20 months, or an average of P2 billion a month. Hence, the proposal to cut rice import tariffs would starve farmers twice over—of income, which they will lose because of competition from imported rice, and of assistance and benefits they will not get because of lower tariff collections,” Yamsuan said.

President Ferdinand R. Marcos Jr., who is the concurrent secretary of the Department of Agriculture (DA), thumbed down recommenda-

Yamsuan said that on top of these projections, the DA had also reported earlier that farmers are expected to harvest 2.3 million MT of palay in September and another 2.9 million MT in October, or over 5 million MT, which would help stabilize rice prices in the market.

Along with the harvests since July, the DA expects the total local rice production to reach more than 11 million MT in the second semester of the year.

“If we lower rice tariffs in the middle of an abundant harvest season, our farmers will ask why they would still work hard when this would only lead to financial suicide. To encourage them to continue planting, they need to see that the government is implementing the right measures and cares for them,” he added.

AUB offers tourists in PHL cross-border pay service

By Cai U. Ordinario @caiordinario

ASIA United Bank (AUB) Corp. announced it has partnered with Alipay Singapore ECommerce Pvt Ltd to allow crossborder digital payments from Hong Kong SAR, South Korea and Malaysia via the lender’s “Paymate” platform.

With the market expansion, AUB said travelers can now pay using their home country’s e-wallets for purchases related to tourism, retail, food and beverage (F&B), entertainment, and attractions in the Philippines.

“We see a resurgence of inbound personal travels this year so our partnership with Alipay+, the first in the Philippine banking industry, will give a much-needed boost

to merchants serving the tourism sector,” said Magdalena V. Surtida, senior vice president and Cards and Acquiring Group head of AUB. “Expect more foreign wallets to be added under this unified QR code.”

At present, AUB has enabled Alipay+ acceptance in over 5,000 stores in Manila and Cebu, two of the most popular travel destinations in the Philippines. AUB PayMate is AUB’s all-inone digital payment acceptance product. It enables all types of merchants to accept digital payments—local or foreign e-wallets, bank payments, and cards—from their customers.

SSP Mactan, a leading operator of F&B outlets in travel locations worldwide, is among the first in the Philippines that used Alipay+, including

in all its stores in the Mactan Cebu International Airport (MCIA), one of the country’s busiest travel hubs.

From mid-September to mid-November, tourists arriving at MCIA will be welcomed by AUB, SSP Mactan Cebu, and Alipay+ and enjoy a more seamless payment experience and exclusive promotions at Alipay+enabled merchants in the airport.

“We are strengthening our partnership with AUB, our pioneering bank partner in the Philippines, to enhance the travel experience for tourists as they return to visit. Digital payments have become more important than ever, particularly for international visitors who are used to using their e-wallets and bank apps for day-to-day purchases,”

Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant Group, said.

“Through our local partners, we aim to help more businesses integrate Alipay+, creating a positive digital ecosystem, driving more opportunities for partners, and merchants while making it more convenient and seamless for travelers,” she added. The Department of Tourism has been increasing its efforts to digitize tourism services nationwide to boost the sector.

As of June 2023, 2.67 million tourists have visited the country, with South Koreans topping the list of international visitors and Malaysia ranking in the top 10, according to DOT figures.

Peso nears key ₧57 level, raising risk of FX defense

AN under-pressure Philippine peso is making its third attempt since August to breach a key trigger point for central bank intervention, as broad gains in the dollar reduced the appeal of Asian assets.

The currency slid to as weak as 56.98 per dollar last Wednesday, within a whisker of the closelywatched 57 level. Earlier this week, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. signaled that officials are intervening

to defend the peso there to prevent even sharper depreciation.

“In the near-term, [the] [BSP] can hold the 57 level, with FX reserves still quite ample,” said Michael Wan, a senior currency analyst at MUFG in Singapore. “Nonetheless, I don’t think the 57 level is necessarily sacrosanct over the medium term. BSP should allow the peso to weaken gradually, assuming that the moves are not too volatile, and other regional currencies also weaken.”

The peso is among the worst-

performing Asian currencies this quarter, as an increase in crude prices hurt sentiment toward the oil-importing nation and the dollar advanced amid a hawkish Federal Reserve. The Philippine currency has been hovering around levels slightly stronger than 57 since midAugust, raising speculation that policymakers see that as a bottom line for the peso.

Defending a specific level in the dollar-peso pair is nothing new to the Philippine central bank, which spent

billions of dollars of its FX reserves last year to prevent deeper currency weakness. Those operations intensified after the peso plummeted to a record low of 59 in September.

The Philippines imports almost all of its oil requirements and crude prices marching toward $100 a barrel are weighing on the peso as is the elevated global cost of rice, a staple food. Foreign funds have unloaded $559 million of local stocks this month, also weighing on the peso. Bloomberg News

NG fails to raise programmed borrowings for Sept as investors sought high

By Jasper Emmanuel Y. Arcalas @jearcalas

THE national government failed to raise its full programmed domestic borrowing for September as it faced high yields in certain tenders, particularly for long-term government securities.

The state was only able to raise 67.25 percent or about P121.064 billion out of its target P180 billion from the tender of Treasury bills (Tbills) and Treasury bonds (T-bonds) this month.

Bureau of the Treasury (BTr) data showed that about half of the amount or about P61.064 billion came from awarded T-bonds while the remaining P60 billion was raised from sold T-bills.

The Treasury made a full award of all the four T-bills auctions it held for September, hitting its full programmed amount for the month.

For the T-bonds, the Treasury only made a full award once. The Treasury fell by about 49 percent in raising the programmed amount of P120 billion.

The majority of the auctions of Tbonds by the Treasury was hobbled by high asking yields from investors. The last T-bonds tender for the month on Tuesday saw the Treasury rejecting all the bids by investors for the P30-billion three-year reissued debt paper due to elevated yields. The auction was also subscribed with total bids just settling at P27.643 billion.

The investors’ asking yields for the government security ranged between 6.25 percent and 7 percent,

averaging 6.482 percent, which was higher than the secondary market benchmark level of 6.208 percent.

“The higher bid yields that were all rejected came after the more hawkish signals from local monetary officials on possible hike in local policy rates even before the next rate-setting meeting on November 16, 2023 amid inflationary pressures partly due to higher rice and oil prices recently,” Rizal Commercial Banking Corp.

Chief Economist Michael L. Ricafort said in an interview.

Ricafort added that the undersubscription also contributed to the rejection of all the bids for the T-bonds. He noted that the reduced demand for the T-bonds may have been caused by the upcoming retail dollar bond offering by the national

government.

“Undersubscription that also leads to rejection of higher bid yields could reduce the volume of government securities/borrowings vs. program, partly as a function of elevated US/global bond yields,” he said.

T-bills

GOVERNMENT’S failure to meet its target for September was despite having raised P15 billion from the tender of Treasury bills (T-bills) in Monday’s auction.

The NG was able to raise the amount from the tender of T-bills for the sixth consecutive week despite a slight uptick in yields caused by hawkish signals by monetary authorities.

The BTr made a full award of its

3-tenor T-bills last Monday that saw investors’ total offer reaching P40.2 billion, about 2.7-times higher than the programmed amount.

The Treasury accepted the bids despite average yield posting a slight uptick across all tenors driven by “more hawkish” signals from the Bangko Sentral Pilipinas (BSP) as it indicated a possible policy rate hike in November.

“T-bill yields are also higher after the latest increase in the BSP’s inflation estimates,” Ricafort told the BusinessMirror. “Total bids/demand also lower compared to the previous week, thereby also leading to higher T-bill yields.”

The average yield for the 91-day T-bills stood at 5.595 percent compared to the 5.552 percent recorded

in the previous week’s tender. Nonetheless, it was slightly lower than the 5.61 percent secondary market benchmark level for the three-month government security.

The 182-day T-bills fetched an average rate of 5.968 percent higher than both the last week’s yield of 5.939 percent and the secondary market’s 5.944 percent.

Meanwhile, the 364-day T-bills’ average yield was at 6.119 percent, up from last week’s 6.073 percent. It was also slightly higher than the secondary market benchmark rate of 6.096 percent.

The 91-day T-bills fetched a total bid of P10.045 billion while the 182-day and 364-day debt papers recorded P16.28 billion and P13.877 billion in offers, respectively.

AlAwm A k er has strongly supported the President’s decision to reject proposals on temporarily reducing tariffs on imported rice as this would spare small farmers “an act of grave cruelty” amid the peak season for harvesting.

FAO report offers solutions for reducing methane missions

METHANE emissions are increasingly identified as a turbocharged driver of the climate crisis, catalyzing interest in how they can be mitigated in key agricultural sectors.

To bolster awareness of possible actions that can be taken, and support members with a menu of solutions, the Food and Agriculture Organization of the United Nations (FAO) published last September 25 “Methane emissions in livestock and rice systems. Sources, quantification, mitigation and metrics.”

The report was put together by a multidisciplinary team composed of 54 international scientists and experts of the Livestock Environmental Assessment and Performance (LEAP) Partnership hosted at FAO since 2012. It offers a comprehensive overview and analysis of methane emissions in livestock and rice systems.

It focuses on both the sources and sinks of methane gas, outlines how emissions can be measured, describes a broad sampling of mitigation strategies, and evaluates the kind of metrics that can be used to measure both emissions and their mitigation on the climate system.

“The results and recommendations of this report bolster the efforts of countries and stakeholders committed to reducing methane emissions and, in so doing, move us towards more efficient, inclusive, resilient, low-emission and sustainable agrifood systems,” said FAO Deputy Director-General

Maria Helena Semedo in report’s foreword.

Methane accounts for about 20 percent of global greenhouse gas emissions and is more than 25 times as potent as carbon dioxide at trapping heat in the atmosphere.

Methane emissions from anthropogenic activities currently contribute about 0.5 degrees Celsius to observed global warming, making their reduction an important pathway to achieve the Paris Agreement.

The report aims to help enable agrifood systems to contribute their share to the Global Methane Pledge, a non-binding initiative endorsed by more than 150 countries to decrease methane emissions by 30 percent from 2020 levels by 2030, which would avoid more than 0.2 degrees Celsius of average global temperature increase by 2050.

FAO said the work is in line with its Strategy on Climate Change and the Strategic Framework 2022-2031, both of which aspire to reducing greenhouse gas emissions through a holistic mix of better production, better nutrition, a better environment and a better life—the Four Betters.

Besides agrifood systems, other human activities that generate methane emissions include landfills, oil and natural gas systems, coal mines and more. About 32 percent of global anthropogenic methane emissions result from microbial processes that occur during the enteric fermentation of ruminant livestock and manure management systems, while another 8 percent comes from rice paddies.

Measurement issues

FAO said one of the trickiest issues with methane is how its emissions and inventories are measured, evidently a critical factor in determining the best mitigation pathways.

“Precise methods have been developed, often involving placing animals in respiration chambers, but they are expensive, laborintensive, and difficult to apply to grazing animals. Sophisticated use of drones and satellites has been deployed, but this approach entails much modeling and research is lagging behind in validating these methods,” the report read.

“Moreover, enteric methane emissions can vary substantially between animals of the same species, opening a role for genetic selection as well as dietary innovation in livestock feed.”

Another key environmental factor is how local soils serve as a methane sink. Research summarized in the report indicates that upland forest soils are the most efficient at this, especially in temperate biomes, with storage rates four times as great as that of cropland, and that dry grazing lands have a notably higher uptake rate than moist grazing lands.

“Those findings could point to the merits of sylvopastoral approaches such as that deployed in a Globally Important Agricultural Heritage System in Portugal.”

FAO said more empirical data and systematic measurement standards will help craft better tailored local mitigation approaches.

‘Expanding FMR network will hike farm output’

By Samuel P. Medenilla @sam_medenilla

During a sectoral meeting in Malacañang last Tuesday, the chief executive ordered the Department Agriculture (DA) to coordinate with concerned government agencies and local government units (LGU) to come up with a list of areas that will be prioritized under the government’s Farm-to-Market Roads National Plan.

“We have to be in coordination with other departments as to where are the areas that we want to develop and where we will start planting high-value crops in this area, for example,” the chief executive said partly in Filipino. Agriculture products in the High Value Crops Development Program include mango, banana,

coffee, cacao, and onion.

The top producing provinces in 2020 for high-value crops are Pangasinan (mango), Masbate (jackfruit), Bukidnon (pineapple), Davao Del Norte (banana), Davao City (cacao), Davao City (durian), Davao Del Sur (coffee), Sulu (coffee), Sultan Kudarat (coffee), Cotabato (saba banana).

Among those to be prioritized for FMR initiatives are roads that are heavily used, but not in good condition, as well as those damaged by flood and other natural disasters.

“We’ll have to assess it in terms of need. Where do we need the roads most,” Marcos said.

The government is targeting to construct 131,410.66 kilometers

(km) of FMRs, which are expected to benefit the country’s 14 million hectares of agriculture and fisheries production areas.

As of October 2022, the DA and other government agencies have completed a total of 67,255.46 km or 51 percent of the said FMR projects.

A total of 64,155.20 km of FMRs has yet to be completed, requiring an investment of P962.325 billion.

Of these, only 46,937.1 km

of proposed FMR projects were from the local government units (LGUs), as of August 1.

Also discussed in the sectoral meeting are the details of the National Agriculture and Fisheries Modernization and Industrialization Plan 2021-2030.

The initiative aims to make the country “food-and-nutrition secured” and empower local farmers and fishers.

Last July 2022, Marcos said the government will seek additional

Average farmgate price of palay up nearly ₧5/kg in Aug

THE average farmgate price of unmilled rice was higher by almost P5 per kilogram in August compared with the previous year’s level, according to the latest data from the Philippine Statistics Authority (PSA).

Based on its Farm Prices Survey, PSA said the average farmgate price of palay last month reached P22.16 per kilogram, nearly 26 percent higher than the P17.61 per kg recorded a year ago. Month-on-month, data showed

that the average farmgate price of palay went up by 14.3 percent from P19.38 per kg posted in July.

“Among regions, the highest farmgate price of palay during the month was recorded in Region 3 [Central Luzon] at P27.54 per kilogram, while the lowest farmgate price of palay was posted in Region 8 [Eastern Visayas] at P18.04 per kilogram,” the agency said.

The highest farmgate price of palay was recorded in Central Luzon, the country’s rice granary,

where it reached P27.54 per kg. The lowest farmgate price was posted in Region 8 where traders bought it an average of P18.04 per kg.

Inflation data released by the PSA last September 5 showed that regular-milled rice prices and well-milled rice prices rose by 8.9 percent to P43.34 per kg while that of well-milled rice went up by 8.1 percent and averaged P47.63 per kilo.

“Overall, rice prices grew 8.7 percent in August 2023,” it added.

“Inflation is likewise expected to remain elevated in the coming months due to continued impact of supply shocks on food prices and the rise in global oil prices. Nonetheless, inflation is still projected to decelerate back to within the inflation target by the fourth quarter 2023,” the Bangko Sentral ng Pilipinas said in a statement.

Experts warned last August that rice may again be the cause of higher inflation in the coming months as data indicated that

FPA warns farmers against use of unregistered fertilizers

THE Fertilizer and Pesticide Authority (FPA) has warned farmers against purchasing and using fertilizers, pesticides and other agricultural chemicals that are unregistered and have no valid certificate of product registration (CPR).

FPA, an attached agency of the Department of Agriculture, recently issued an advisory to urge farmers not to use the unregistered and mislabeled fertilizers and pesticides. It was signed by

FPA Executive Director Julieta B. Lansangan.

“Section 8 of Presidential Decree No. 1144 [PD No. 1144] states that it shall be unlawful for any handler of pesticides, fertilizer and other agricultural chemicals or for any farmers, planter or end-user of the same as the case may be...to deal in pesticides and/or fertilizers which have not been previously registered with FPA, or which registration has expired and has been suspended

or revoked,” the advisory read.

FPA said Section 9 of the same also provides that “[n]o pesticides, fertilizer, or other agricultural chemical shall be exported, imported, manufactured, formulated, stored, distributed, sold or offered for sale, transported, delivered for transportation or used unless it has been duly registered with the FPA...”

The advisory from the agency included photos of the following products that farmers should

Thailand moves ahead with $8-B farmer debt suspension plan

THAILAND approved a debt moratorium plan that will benefit millions of farmers struggling to pay back about 283 billion baht ($8 billion) of loans as Prime Minister Srettha Thavisin rolled out more measures to spur economic growth.

Srettha’s cabinet on Tuesday gave the nod to set aside 12 billion baht from the state budget this year to cover the interest cost on loans taken by an estimated 2.7 million farmers eligible for the debt suspension. The three-year moratorium, effective from October 1, will likely cost the government about 30 billion baht, Deputy Finance Minister Julapun Amornvivat told a briefing.

The debt relief for farmers, a key support base for Srettha’s Pheu Thai Party, is part of a series of stimulus policies unveiled by the new government to lift economic growth to an average 5 percent annually. While the past governments spent a significant amount of money in alleviating farmer debt burden, it has failed to stem a surge in household debt level to 90 percent of GDP.

“This time will be different,” said Julapun, adding that the government will not only suspend interest and principal on loans taken by farmers but also provide

trainings, fresh loans and other incentives to lower bad debts.

More than 90 percent of Thai farmer households are indebted at an average of 450,000 baht, and the vicious cycle of debt and reliance on credit to overcome the burden pushes them into a trap, according to a study by the Puey Ungphakorn Institute of Economic Research.

The cabinet also approved setting up of a committee to work out details of the debt relief program and a one-year debt freeze for small- and medium-sized businesses affected by the pandemic, according to government spokesman Chai Wacharonke.

Other measures approved by the cabinet include:

n Operational budget of 1.38 trillion baht and 259 billion baht investment for 46 state enterprises for the fiscal year starting October 1

n Approved 2.2 trillion baht public debt management plan for the 2024 fiscal year, which include new borrowing of 194.4 billion baht, debt restructuring and debt repayment

n The National Housing Authority,

Dhanarak Asset Development Co., the State Railway of Thailand and the Bangkok Mass Transit Authority to borrow funds next fiscal year to manage their businesses.

Argentina’s soy

THE world’s biggest crop trading houses have a message for the next president of Argentina: Free up soy production and exports, or risk getting left behind by rival suppliers Brazil and the United States.

Officials from Cargill Inc., Louis Dreyfus Co., and China’s state-owned Cofco Corp. were unanimous in their concern over the South American nation’s outlook as it heads toward a crucial election next month.

“It’s very sad for me to see how Argentina has lost influence and relevance in global markets,” Pablo Scarafoni, head of commercial operations for Cargill in South America, said last week at a soybean conference in the crop-trading hub of Rosario. Once a dominant player in the region, Argentina has seen its agricultural sector wither under the heavy hand of the state.

“While Brazil is growing with gigantic strides helped by the political and economic framework, while the US also grows with policies like biofuel mandates, Argentina’s

overseas funding to construct more FMRs.

“FMR is the first step to solve some of the supply chain problems. So let us prioritize those who are producing these [food items],” Marcos said.

In 2021, food security advocacy group Tugon Kabuhayan urged LGUs to allocate at least 10 percent of their budget starting 2022 for food production programs and postharvest investments.

The group said 10 percent or about P23.4 billion of the additional P234.6 billion funds of the LGUs due to the Mandanas ruling should be allocated for improving local food systems.

It added that 60 percent of the allocation or about P14.04 billion should be invested in postharvest infrastructure to cut the country’s food waste while the remaining fund could be used to bankroll productivity enhancement programs.

“We suggest that 10 percent of the funds or P23.4 billion be allocated for this annually, especially in the countryside where most production is happening. The allocation can be adjusted once LGUs reach the desired production and post-harvest losses targets,” the group said.

prices returned to levels that were seen prior to the implementation the Rice Tariffication Law (RTL), which aims to bring down the price of the staple. PSA data showed rice inflation averaged 4.2 percent in July, the highest since February 2019 when the increase in the commodity’s prices was at 4.5 percent. RTL was implemented in March 2019. The spike in rice prices had prompted President Marcos Jr. to implement a price cap. Economic managers had also pitched the reduction in the tariffs of imports to pull down prices.

and sanctions shall be strictly imposed.”

avoid: Jumana Soil Conditioner, Aqua Oro, Pest-X and CEG Magic Foliar.

“Considering that the abovementioned product has not gone through the evaluation process of FPA, the agency cannot assure its quality and safety,” the advisory read.

“Hence, all concerned establishments are warned not to distribute, advertise, or sell the aforementioned product, otherwise, appropriate penalties

FPA urged all its regional and provincial personnel as well as law enforcement agencies and local government units to ensure that the products are not sold in their areas.

“Moreoever, the Bureau of Customs is urged to restrain the entry of unregistered imported products,” the advisory read.

The FPA said farmers and other users of agricultural chemicals may visit its website to check if a certain product is registered with the agency.

soy production is stagnant,” Scarafoni said.

Argentines vote in a presidential election on October 22, with the stage set for a shift away from state intervention in the economy that’s left the resource-rich country mired in crisis. Net reserves of dollars are in negative territory, inflation is running at nearly 125 percent, and about two of every five Argentines live in poverty.

Myriad government restrictions, compounded by three consecutive droughts,

have particularly hurt agriculture. Farm revenues and investments have been constrained by export taxes of up to 33 percent for soy, quotas for cargoes sold abroad, and currency controls.

“Where do we want to go as a country?” Scarafoni asked. “Do we want to generate more dollars, or do we want to settle for small production, farmers who aren’t profitable, and a processing-exports industry in decline?” Bloomberg News

PRESIDENT Ferdinand R. Marcos Jr. wants to increase the production of high-value crops by expanding the Philippines’s farm-tomarket road (FMR) network.

BUSINESSMIRROR FILE PHOTO

A FARMER tends to his fields in Pai, Mae Hong Soon Province, Thailand, November 15, 2021. BLOOMBERG NEWS

Preparing your child better for school: Part II

LAST week, I shared how grateful I am to see the increased awareness of parents on our role in our child’s education and development. This week, let me share more concrete tips on both nutrition and the things you can do at home in building a more school and futureready environment for your children.

Dr. Ma. Theresa Arranz-Lim, founding member and former president of the Philippine Society for Developmental and Behavioral Pediatrics, gives samples of food that are rich in nutrients that are important for a child’s IQ and EQ development.

MFGM, which stands for Milk Fat Globule Membrane, is an important nutrient and contains bioactive compounds that support brain development, including cognitive function and emotional development, and overall growth in children.

To further help boost their IQ and EQ, experts still advise toddlers to drink milk regularly. Enfagrow

A+ Four Nurapro and Enfagrow Gentlease 3+ are the only milk formula among staged milks with MFGM that is clinically proven to help give higher IQ and EQ to last until school age, with proper nutrition and stimulation. For kids with sensitive tummies, there is Enfagrow Gentlease 3+ with PHP (partially hydrolyzed proteins), a nutrient that aids a child’s digestion and gut health (with proper nutrition and stimulation).

Last October 3, I was able to share here some of my tips and tools to parents on how we can prepare our children better for school, as well as building the foundations of “Happy Learning Families” in the process. Although the pandemic has brought about various issues on learning, especially due to the increased on use of screen time, I shared that the first step is to stay positive amid our busy schedules or any feeling of being not equipped to guide our children on any learning issue. It is good to see this that there is a learning opportunity to discover. It is good to open our view to the new way of learning, where knowledge goes beyond the classroom; learning is now a collaboration between the parent and teachers, and the goal is beyond high grades towards raising a happy learning child.

Based from the talk Toys and Play: A Child’s Key to a World of Wonder by Dr. Stella Guerrero Manalo, MD, FFPS, FPSDBP, the first 10 years are the critical periods for a child’s learning. During the infancy, the focus is motor skills. For toddler and preschool years, language and social skills are key. Then for school age, the focus is cognitive, which is understanding concepts or subjects.

My “one solution” to answer these skill needs at each stage in a child’s life is STEAM Play. STEAM (which stands for Science, Technology, Engineering, Art, and Math) Play activities that involve STEAM allows children to be exposed to concepts in a more relaxed way.

It provides a learning, not studying, environment that can bring together focus and fun. My most favorite benefit of STEAM is the SEL (socio-emotional learning) like teaching patience and a trial-and-error mindset. What is even better is STEAM Play allows the child to develop 21st century learner skills, which is the foundation of the Philippine curriculum.

n TODDLERS: I call the first activities “Messy is Besty.” Loving STEAM means loving the mess that comes from play experiments. Paint and coloring materials are great in initially introducing numbers or arithmetic symbols. I always love doing this in an inflatable pool to allow my kids to mess freely. You can even use the pool to also combine primary colors to form secondary colors.

It is also good that there are STEAM kits available as early as 1-year-old from SES, a new Ogalala-

Find bar and restaurant supplies all in one place

THE Philippines’ all-in-one, on-demand and premium lifestyle delivery app, Pick.A.Roo is unveiling its latest innovation, called “Pick.A.Roo Wholesale,” a new segment aimed at addressing post-pandemic supply chain challenges for smallto medium-sized enterprises (SMEs), specifically targeting independent restaurant and bar businesses.

With a strong commitment to bridging the gap between business owners and industry suppliers, Pick.A.Roo Wholesale emerges as the ultimate one-stop shop, offering a seamless sourcing and delivery experience.

In the wake of post-pandemic supply chain challenges, Pick.A.Roo Wholesale empowers independent restaurant and bar businesses by providing them direct access to the biggest industry suppliers. Featuring outlets like S&R Wholesale, SuySing, Tiptop Distribution Inc., Farmer’s Market, Boozy, and other renowned suppliers in the food service industry, this new transformative segment seeks to revolutionize the way SMEs in the food and beverage industry source their supplies.

recommended brand from and made in Holland. You can make Fundamentals Fun with Multi-Sensory activities. Learn counting with water through Melissa and Doug’s Water Wow and feeding cookies to the Learning Journey Learn with Me Cookie Jar.

n PRESCHOOLERS: As you observe more how your child learns more effectively, inject “gamified subject-learning activities” that promote curiosity and interest. Start Science experiments early and couple it with researching as you google information together. For social studies, try the Learning Resources Puzzle globe that you can piece together and also has tons of facts to do a quiz bee with the whole family. There are also easy-to-follow and complete preschool learning sets with activities and parent guides like this Learning Resources All Ready for Preschool kit.

n GRADE SCHOOLERS: It is fundamental to expose them to “process and logic” because these are skills helpful to any subject matter. Continue building activities and introduce logic toys like the new brand HEADU from Italy, which even has Montessori play tools for subject learning. This is the best time to introduce art-infused learning. It is also good to introduce activities that align with children’s digital environment.

My latest discovery is a “phygital” (physical + digital) math play method. You can go to YouTube and find the Numberblocks channel and use Learning Resources’ Mathlink Builders to learn Math skills. The Crayola Scribble Scrubbies app and toys also foster endless phygital free play pattern for girls. n

“Pick.A.Roo Wholesale is a one-stop-shop dedicated to enabling independent restaurant and bar businesses in the metro,” says Kevin Tan, Pick.A.Roo founder. “We’re excited to bridge the gap between business owners and industry suppliers, offering a solution that alleviates the challenges of maintaining a consistent supply chain. Pick.A.Roo Wholesale offers a solution that aligns perfectly with the demands of modern businesses. Our aim is to help them thrive in this post-pandemic landscape.”

The shift to business shopping through Pick.A.Roo Wholesale is driven by the company’s commitment to addressing the challenges faced by independent businesses in sourcing their inventory. “The introduction of Pick.A.Roo Wholesale caters to the growing market of micro-businesses in the Philippines. We’re collaborating closely with business owners and suppliers, not only to bolster the food and beverage industry but also to contribute to the revitalization of the Philippine economy,” adds Eric Bataga, chief executive officer of Pick.A.Roo.

Combining this latest segment with Pick.A.Roo’s wellestablished platform, independent business owners now gain unprecedented control over their inventory management. Pick.A.Roo Wholesale offers the flexibility for business shopping orders to be delivered on-demand within a matter of hours or on a routine schedule. This streamlined approach eliminates the traditional challenges of supply and stocking, giving business owners the freedom to focus on their core operations. Download Pick.A.Roo on Google Play or the Apple App Store to enjoy Pick.A.Roo Wholesale and enjoy all the hottest offerings available.

❶ CRATE & Barrel Philippines vice president, business unit head Steven Ticzon with senior vice president for business development Pascale Jimenez at the Portraits of Life event.

CRATE & BARREL (www.crateandbarrel.com.ph) recently unveiled Portraits of Life, four interactive vignettes at its SM Makati Flagship Store. These curated spaces paint a picture of life at various phases and brought guests into the homes of a couple building a life together, a bachelor hosting a night with friends, a supermom and her growing brood, and a couple refurbishing what is now an empty nest.

Each vignette was curated to show how key pieces from Crate & Barrel can enhance and elevate everyday life at home.

THE BACHELOR’S PAD

LOOKING for something multifunctional? Beyond the usual man cave, the global lifestyle brand reimagines the bachelor life through pieces that are raw, edgy yet irresistibly sleek. The featured Phoenix Work Table provides a solid wood top on welded steel legs. Its width is sized such that it can be used for work, to display collectibles, or even to host gettogethers.

MOVING IN WITH YOUR PERFECT MATCH

INCORPORATING different styles? This space, designed with couples in mind, captured the

beauty of two lives coming together under one roof. In this vignette, we witness how love, respect, understanding, and, yes, even compromise are expressed through design choices. These selections from Crate & Barrel serve not just the individual he or she; it celebrates the beauty of us.

At the heart of every couple’s first home is their bedroom. Of the many considerations to make, two are most crucial: storage space and choice of bed.

The Caldwell Oakwood Upholstered Storage Bed by Jake Arnold ticks these boxes. Part of the exclusive collection by an Los Angeles-based designer, it is made with gentle curves, soft fabrics, and sinuous shapes. It also features a full-width storage concealed behind the footboard, ideal for keeping the bedroom clutter-free.

SUPERMOM SPECIAL

THE best choice for your living room? Supermoms do it all, and in a span of 24 hours, they wear various hats. This special tribute to mothers put the spotlight on essential living room pieces from Crate & Barrel that add joy to family life at home. This vignette was curated for dynamic mothers who have mastered the act of balancing their roles—in style.

It highlights the Gather Two-Piece Sectional Sofa, a centerpiece for living or play rooms, makes family bonding relaxed and comfortable. It features a performance fabric that’s soft yet durable, stainrepellent and family friendly.

NOT-SO-EMPTY NESTERS

REDECORATING a space? As soon as the children have left the nest, the home becomes a place for couples to fully enjoy each other’s company while pursuing more dreams together. Far from being an empty home, these abodes, which hold precious memories, are refreshed to reflect a life fulfilled. Crate & Barrel reimagines an area in the home for empty nesters. Among the standout pieces featured was the Tate Walnut Wide Storage Bookshelf. With its cleanlined design made of walnut veneer, this piece is best for showcasing books, art and family photos while bringing the 1960s vibe right into your space. Find a wide range of furniture and houseware pieces at Crate & Barrel that will complement your style and needs. Discover new arrivals, classic favorites and what the brand can do for you and your home by visiting their stores, ordering by phone or shopping online.

❷ MARIE FIELD FAITH, Roshni Mirpuri and Jessica Tan Gan ❸ ACQUI DIZON and Brian Yap ❹ YOUNG couple Enrique Miranda and Ella Pangilinan are among the inspirations for the vignette.

Living with ‘Portraits of Life’

PHOTO BY ROBO WUNDERKIND ON UNSPLASH

ESL tutor and her former student win first-ever Beyond Happiness by Sheraton online contest

an Ocean View Room and a Honeymoon Trip to Taiwan via Starlux Airlines.

ADM Cares partners with Pawssion Project to advance pet welfare in PHL

ADM, a global leader in human, pet, and animal nutrition, has partnered with Pawssion Project; a non-profit organization dedicated to rescuing, rehabilitating and rehoming pets to advance pet welfare in the Philippines.

Through ADM Cares, the company’s corporate social investment program, ADM’s contribution is helping to build a dedicated 25 sqm space within Pawssion Project’s shelter specifically for paraplegic dogs and cats. This dedicated space will house a hydrotherapy facility to aid in the rescues’ rehabilitation efforts. At the same time, it will support nourishment of all pets. ADM Pet Nutrition will be donating complete and balanced petfood including Ganador® –a high quality dog food suitable for all breeds and life stages; and Minino® – a professional cat food for felines of all ages and sizes.

“At ADM, we truly believe in the power of community and compassion. Our partnership with Pawssion Project is a testament to our unwavering commitment to making a positive impact in the communities where we are

present,” said Clare Torralba, Director, Pet Nutrition, Asia-Pacific excluding China (APeC).

“Pawssion Project has an excellent track record in providing care and homes to rescued pets since 2018, and we were inspired to support their purpose and mission, so they can continue their important work to help improve pet welfare in the Philippines,” added Torralba.

ADM Cares is committed to improving the lives of people and animals in the communities where ADM operates, through monetary contributions and volunteerism to initiatives and organizations that are driving meaningful social, economic and environmental progress worldwide. This timely contribution will support Pawssion Project’s vision of rescuing, rehabilitating, and rehoming abused and neglected pets.

The donation from ADM Cares is a significant boost for Pawssion Project, which relies on donations to fund its operations. Malou Perez, Founder of Pawssion Project, added, “We are incredibly grateful for the generous

contribution from ADM Cares to support our mission to give stray animals a second chance at a happy life. With their partnership and donation, we are now able to make our dreams for these pets come true. ADM’s commitment to animal welfare is a shining example of how collective efforts can create a profound impact, and we truly believe that their support will open new doors for our organization to get support from the public and other private companies as well.”

Johanna Emata, ADM Philippines Business Development Manager – Pet Nutrition, reiterates the company’s commitment in supporting organizations like Pawssion Project. “We believe that all animals deserve to be treated with love, kindness and compassion, and we want to help ensure that these shelters have the adequate resources to take care of the pets in their custody.”

Raymond Molina, Trade Marketing Manager, APeC, added, “We will continue to support organizations that strive for a meaningful cause, and we hope this paves the way for a brighter future for our four-legged friends.”

Conrad Manila secures 5th consecutive win as the Philippines’ leading conference hotel

CONRAD Manila has won the “Leading Conference Hotel in the Philippines” at the esteemed World Travel Awards, solidifying its position as the unrivaled destination for discerning business travelers and event organizers.

The achievement highlights Conrad Manila’s unwavering commitment to providing delegates with a seamless MICE experience by offering customizable packages that cater to their needs, providing top of the line A/V equipment, a dedicated lounge area for attendees, and top-notch service from dedicated team members.

As the hotel continues to lead in the field of conference hospitality, it remains dedicated to elevating experiences for its patrons, aligning with Hilton’s 2023 Travel Trends’ focus on creating exceptional moments for travelers.

“Conrad Manila stands as a beacon of smart luxury and innovation in the world of conference hotels in the country. We take pride in providing innovation through our cutting-edge equipment across our multiple spacious and exquisite event spaces,” says Fabio Berto, General Manager of Conrad Manila. “What truly sets us apart, however, is our unwavering dedication to personalized service and our ability to tailor packages to meet the unique requirements of each and every guest.”

Boasting an expansive 1,975 square meters of space, including 11 versatile meeting rooms and 347 exquisite

guest rooms, the hotel caters to groups of all sizes. The pillarless Grand Ballroom, accommodating up to 1,000 guests, along with five other multi-functional event rooms, offers state-of-the-art A/V technology, internet access, and intelligent lighting to ensure an unparalleled event experience.

Over the years, Conrad Manila has successfully hosted a diverse array of events ranging from corporate meetings, big pharmaceutical conferences, to highprofile international sporting gatherings. As the preferred choice of domestic and international companies and associations, Conrad Manila has established itself in setting the bar for luxury meetings and events by guaranteeing a world-class experience to all guests from inside its

function spaces, to its top restaurant options -- Brasserie on 3 and China Blue by Jereme Leung, and C Lounge, its vibrant bar overlooking the Manila Bay sunset which offers the perfect setting for a night cap.

The World Travel Awards, a renowned award-giving body in the travel industry, annually recognizes and celebrates excellence in the global tourism and hospitality sector. Conrad Manila’s repeated triumph in this category reaffirms its position as a beacon of luxury and sophistication in the Philippines.

Conrad Manila invites guests seeking expertly crafted conference experiences in the region, where every detail is tailored to perfection. For more information, please visit conradmanila.com.

THE winner of Sheraton Cebu Mactan Resort’s first-ever Beyond Happiness by Sheraton online contest is Heizel

Mostesclaros and her Japanese partner Yukari

Mizunuma with their sweet love story titled

“Distance to Dear”

They met as an English as a Second Language (ESL) tutor and student, and met personally during a school event that gave them a chance to get to know each other. Because of their personal and close encounters, they grew fond of each other with every bond. A month passed and Yukari had to go back to Japan after his graduation but vowed that they would meet again. Yukari stayed true to his promise and went back to Cebu in 2027 just in time for Sinulog. He then went back to Japan after two weeks. The courtship began despite the distance and cultural differences. Eventually, Montesclaros finally agreed to be his girlfriend. Six years later, Yukari proposed at Sheraton Cebu Mactan Resort and Montesclaros said the easiest “yes” she’s ever uttered. Heizel Mostesclaros and Yukari Mizunuma will be receiving the most coveted exclusive indoor dinner buffet wedding reception for 50 persons, welcome drinks for 50 persons during the wedding reception, basic floral centerpiece, one bottle champagne, one overnight stay in

The runner-ups are Genevieve Bajado with her story entitled “A God-written love story of Michael & Genevieve” and Lea Ann with her “Beyond Happiness—From Flames to Love” story. They will receive an Overnight stay with breakfast and dinner buffet for two at Sheraton Cebu Mactan Resort.

The runner up’s stories as well as Montesclaros & Yukari’s wedding will be featured on the Sheraton Cebu Mactan Resort’s social media pages. All Beyond Happiness by Sheraton entries can be read at the Sheraton Cebu Mactan Resort page for Beyond Happiness.

Beyond Happiness by Sheraton is a global campaign to promote Sheraton Hotels all over the world as the perfect venue for your wedding. This year, Sheraton Cebu Mactan Resort adapts the local campaign, giving it a local taste by not limiting the celebration to weddings and socials, but also celebrating the local artisan community and providing them a platform to showcase products that Cebuanos can truly be proud of.

Sheraton Cebu Mactan is the perfect weddings and socials destination for when you are looking for tropical and magical venue in the Island of Mactan.

The resort proudly offers its white sand beach, infinity pools, and elegant rooms capturing the scenic view of Hilutungan Channel —one of Cebu’s finest and richest sanctuaries.

The property boasts a total of 1,400 square meters of event space, 5 state-ofthe-art meeting rooms, and 1 ballroom that can accommodate up to 450 guests for your gatherings.

For meetings, function, and wedding inquiries, kindly address your concern to our sales associate through this number, +639176244732, or through this email: maurece.monez@sheraton.com

Cebu Pacific Joins 2023 International Coastal Cleanup

CEBU Pacific (PSE: CEB), the Philippines’ leading airline, reaffirms its commitment to environmental conservation by joining the 37th International Coastal Cleanup (ICC) on September 16, 2023.

The ICC, organized by the nonprofit organization Ocean Conservancy, is the world’s largest volunteer effort for ocean’s health.

This year, the Department of Environment and Natural Resources (DENR) said 35,000 Filipinos came together to clean up coastal areas across the country.

CEB contributed significantly to this effort by mobilizing a team of volunteers who worked with government agencies, private sector entities, academe, and civil society groups to collect and document waste at the Manila Baywalk Dolomite Beach.

“At Cebu Pacific, we go the extra mile— not just in the services we provide, but also in the initiatives we support. Our participation in the International Coastal Cleanup shows our enduring commitment to foster a culture of volunteerism among our employees and support larger efforts towards a cleaner and healthier environment,” said Felix Lopez, Cebu Pacific’s Chief Human Resources Officer. CEB’s participation in this year’s ICC aligns with its broader corporate social responsibility (CSR) pillars, which emphasizes environmental stewardship. By taking an active role in events like the ICC, CEB upholds its commitment to promote sustainable tourism and support nationbuilding efforts for every Juan.    To learn more about CEB’s CSR work, visit: www.cebupacificair.com.

West Zone concessionaire Maynilad to increase its ‘Plant for Life’ tree-planting target by 133% this year

WEST Zone concessionaire Maynilad Water Services, Inc. (Maynilad) aims to plant around 210,000 native trees in vital watersheds for its “Plant for Life” program implementation in 2023, a 133 percent increase from last year’s target of 90,000 trees.

For this year’s run of the Maynilad annual reforestation initiative, the company committed to plant 210,000 tree saplings and mangrove propagules over a land area of approximately 525 hectares at the Ipo watershed in Bulacan, Kaliwa watershed in Quezon Province, La Mesa watershed in Quezon City, and the Manila Bay coastline in Cavite Province.

“One climate change mitigation measure that will have a long-term and major impact on protecting our water sources is the planting of trees. It not only enhances carbon sequestration; it also increases the soil’s waterretention capacity, thus preventing erosion in watersheds that could lead to high turbidity in the raw water supply,” said Maynilad’s Quality, Sustainability and Resiliency (QSR) Head, Atty. Roel S. Espiritu.

Espiritu said that intensified reforestation activities this year will focus on improving forest cover at Mt. Balagbag in Bulacan, which is now highly denuded and has to be restored.

Maynilad plants trees with the help of volunteers from private and public organizations—including its sister companies under the MVP Group such as PLDT/Smart— that share in the water company’s concern for environment conservation. Maynilad also works with the Mt. Balagbag Farmers, local communities, indigenous people, and Bantay Gubat to sustain high survival rate of the trees

MAYNILAD Chief Operating Officer Randolph T. Estrellado leads other volunteers in planting a tree at the La Mesa Nature Reserve, Quezon City, during the recent kickoff ceremony of this year’s “Plant for Life” program, the company’s annual reforestation initiative in vital watersheds. For 2023, Maynilad aims to plant around 210,000 native trees over 525 hectares, a 133 percent increase from last year’s target of 90,000 trees planted.

planted. More than one million trees have already been planted through “Plant for Life” since the program’s inception in 2007.

Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. Its service area includes the cities of Manila (all but portions of San Andres and Sta. Ana), Quezon City (west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the northern part starting from the Districts of Holy Spirit and Batasan Hills), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon, all in Metro Manila; and the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in the province of Cavite.

Envoys&Expats

From production to sales: Koica plots blueprint for sustainable agriculture

riculture, and Governor Dakila Cua of Quirino.

Lee lauded the successful completion of the Q-LiFE Center. He noted that the agricultural and livestock products displayed were “[symbols] of hope and growth.“

“As the Philippines and [Republic of Korea march toward the 75th year of mutual ties in 2024, let us continue to build, deepen, and boost their harmonious relationship…]” the envoy added.

Australia and PHL: Invested in a shared economic future

By Nicholas Moore AO Australia’s Special Envoy for Southeast Asia (Exclusive to Envoys&Expats)

EARLIER this year, I was fortunate to have visited this country and consulted with government, community, and business leaders on ways Australia and the Philippines can grow their economic relationship.

What I saw during my consultations in the Philippines, and across Southeast Asia, assured me that the region has a bright economic future.

On September 15, Koica held an agricultural value-chain workshop in Manila to promote the Quirino Integrated Rural Development Project (QIRDP)-Phase 2 outcomes and increase local farmers’ pay. The project, valued at $10.95 million and slated to conclude in 2024, contributes to the added value in the agricultural and livestock industries of the project area by supporting the (1) introduction of an agroforestry-based farming model, (2) distribution of highquality breeds through its “Cattle Breeding Center” with equipment

extends

provision, and (3) establishment of the agricultural- and livestockproduce processing “Q-LiFE Center.”

The workshop aimed to secure distribution and sales channels for agricultural and livestock products processed at the Q-LiFE Center which was established with Koica’s support, and highlight the project’s accomplishment. The agency promoted 20 products—including six types of meat products; eight types of breads, ginger tea, and fruit juice; as well as other processed items.

An investment forum that targeted agricultural buyers to secure addition -

al sales channels was also organized.

Notably, Koica aided an onlinestore launch of 27 food items and 19 eco-friendly agricultural and livestock products produced in Quirino through an e-commerce platform.

Officials who attended the event included Ambassador Lee Sang-hwa of South Korea, Country Director Kim Eun-sub of Koica Phils., Undersecretary Deogracias Victor B. Savellano of the Department of Ag -

For his part, Kim expressed his pleasure in carrying out the QIRDP’s second phase, and in sharing its significant achievements: “A deep cooperative relationship between the Republic of Korea and the Philippines was established through this project with the provincial government of Quirino.”

After the workshop, this Koica project, which is nearing completion, will examine its final outcomes while continuing the monitoring of beneficiary farms, the support of remaining equipment, and additional capacitybuilding training.

Japanese café returns, to upskill local baristas as ‘global coffee ambassadors’

BELIEVING in the utmost dedication and talent of Filipino baristas in making quality coffee, returning Kyoto-based café Arabica has made a commitment to further hone and improve their workers’ skills in becoming globally competitive.

Chief Operations Officer (COO)

Koko Tamura of Arabica Phils. and The Khoffee Group said the global coffee brand has always admired baristas in this country because of their eagerness to learn, warmth, and friendly personality.

ON September 16, Economic Affairs Minister Daisuke

Nihei of the Embassy of Japan led the culmination event of the “Healthy Oceans and Clean Cities Initiative (HOCCI).” It highlighted achievements, experiences, and lessons learned of partner-cities and communities in localizing the Philippines’s National Plan of Action in Marine Litter (NPOA-ML) into City Plans of Action for Marine Litter (CPOA-ML).

The activity also featured the emerging approaches explored by partner-cities, such as customized integration of digitization and digital transformation in plastic-waste diversion and local government units’ Extended Producer Responsibility-readiness.

A regional initiative by the United Nations-Habitat Phils. and the government of Japan, HOCCI addresses the growing concern over marine-plastic pollution that endangers the environment, marine ecosystems, and public health. While the Philippines has among the highest trash collection rates in Southeast Asia, it remains the world’s third-largest source of marine litter.

With UN-Habitat Phils.’ lead, the Japanese government funded $3 million for the project which ran for threeand-a-half years from April 2020 to September 2023, and was piloted in the cities of Cagayan de Oro, Calapan, Davao, Legazpi, Manila, and Ormoc. The project primarily provided support for improved governance structures and capacities for NPOA-ML’s localization and the vertical integration of the marine plastic-litter response. The project also assisted the cities in improving technology and systems for marine plastic-litter reduction.

In his speech, Nihei expressed his hopes that the gains and lessons learned from the HOCCI rollout will “inspire synergies and deepen partnerships at the community, national, and international levels to work hand-inhand in reducing marine litter.”

Their capabilities and professionalism have also earned praises from its esteemed global baristas during their recent visit to the Philippines when Arabica reopened with a new branch at Mitsukoshi in Bonifacio Global City, Taguig.

Global barista Allen Chua commended their Filipino counterparts’ perseverance and being knowledgeseekers: “I can see their patience in perfecting their craft. I also appreciate that they’re very knowledgeable when it comes to coffee, and yet they’re still willing to learn new things no matter how old they are, regardless of their position.”

Sharing the same observation with him was Arabica global barista Kobe Lee, who also underscored the importance of passion in becoming a world-class barista and integrating the Japanese philosophy of kaizen in their work.

“Like our founder would always

say: ‘Kaizen your daily’ [routine]. In everything you do, apply the concept of kaizen,” Lee explained. “For example, you’re doing your 1,000th cup, but it’s the customer’s first cup… If your [thousandth cup is not as good as your first ones], the customer trying it for the first time will not come back. So improve, and better yourself daily so you can achieve anything,”

Now ready to serve Filipinos their favorite cup of coffee anew, Arabica Phils. wants to constantly develop its baristas’ potential to become international coffee ambassadors by supporting and encouraging them to join global tilts, according to Tamura.

In fact, they undergo a monthlong training process, have regular evaluations to maintain excellent

performance standards, and also go through an auditing process even after store operations begin.

“The company’s motto: ‘See the world through coffee’ reflects our desire for our baristas to explore the world and gain international exposure,” Tamura said. “Arabica’s training program aims to empower Filipino baristas by equipping them with the skills and knowledge, helping them grow and explore wider opportunities.”

“The local baristas in our roster right now are our pioneer team. If they want to grow and climb up the ladder to become future supervisors, store managers, and champion baristas, we will support them every step of the way,” the COO said. “Kenneth Shoji, who is the founder of Arabica, is a firm believer of investing in people and empowering them to reach their full potential.”

Among the beneficiaries is Lawrenze Marcella, who is the current Filipino head barista of Arabica and was sent abroad to train and learn the “Arabica way”—the most recent of which was in Malaysia.

“As a global Japanese brand, Arabica’s training has really helped me pay attention to details and aim for high quality standards,” Marcella said. “Every cup of coffee we make is made with enthusiasm, passion, and consistency. This has become my edge and advantage at the global and international level.”

Roderick L. Abad

Australia’s prosperity and security are linked to this region. It will be home to one of the most dramatic economic transformations of the 21st Century. Population growth, increasing large and affluent middle classes, and urbanization trends will create growing demand for a wider range of goods, services, and skills.

Looking for options to boost economic growth, I believe my country has much to offer the region as a trusted and reliable partner.

Australia knows that the Philippines will be a significant part of Southeast Asia’s economic future, with its gross domestic product or GDP growth projected to be among the highest in the region over the next five years.

Invested in S.E.A.

IN this context, we recently recognized two milestones in the Australia-Philippines economic relationship. First, Prime Minister Anthony Albanese traveled to Manila and, alongside President Ferdinand R. Marcos Jr., signed our new Australia-Philippines Strategic Partnership. This includes a commitment to bolster our twoway trade and investments, as well as enhance our overall economic engagement.

The day before he arrived in Manila, the prime minister along with Foreign Minister Penny Wong also launched my new report for the Australian government: Invested: Australia’s Southeast Asia Economic Strategy to 2040.

This linkage, and the Southeast Asia Economic Strategy to 2040, will be the blueprint for the Philippines and Australia’s economic relationship going forward.

Expanding Australia’s trade and investment links with the Philippines and our region is critical in ensuring our shared future prosperity. My strategy sets out a practical pathway to capitalize on this opportunity, and recommends ways governments can increase two-way trade with the region—including by raising awareness, removing blockages, building capacity, and deepening investments.

I welcome the Australian government’s commitment to immediately support key initiatives that go to the heart of the strategy.

To increase investment in the

region, Australia will establish deal teams to help identify opportunities and commercial partners, provide market intelligence, as well as guidance on risk, regulation and government liaising.

To raise awareness on regional opportunities among Australian businesses, we will initiate a Southeast Asia Business Exchange focused on organizing business missions, targeting priority sectors and stepping-up coordination with its diaspora.

The Australian government will also deliver a local trade- and investment-promotion campaign, which will build understanding of Southeast Asian goods and services, while highlighting the region as an investment destination.

And to grow capability in Australia and the region, a placements and internships pilot program for young professionals—with an initial focus on investment, energy transition and the digital economy—will help build enduring links between Australian and Southeast Asian businesses.

Creating impact

THESE initiatives are impactful first steps to advance Australia’s ambition to significantly expand commercial links with the region.

Our local businesses are also taking notice of opportunities the region presents, as more than 170 Australian business people attended the recent Asean Summits in Jakarta.

In the Philippines, I am most optimistic about growing our twoway trade and investments in education and skills, agriculture and food, resources, infrastructure, and the green-energy transition.

In agriculture, we can already see signs of trade increasing between our two countries. Case in point: A shipment of delicious Philippine mangoes arrived in Australia just last week. Philippine mango growers can now provide their product to a new market, and Aussies can enjoy the luscious fruit through winter.

Maintaining invested and longterm efforts from both Australian businesses and government, the Philippines and across the region are essential to ensure we are positioned to maximize our shared economic potential, from now until 2040, and beyond. I am optimistic about growing together if we maintain this focus.

“Invested: Australia’s Southeast Asia Economic Strategy to 2040” is available at www.dfat.gov.au/southeastasiaeconomicstrategy.

DIPLOMAt S, At tACHÉS G r ACE EXPO Envoys and trade attachés supported the 10th Philippine Die and Mold Machineries and Equipment Exhibition (PDMEX), which featured the latest state-of-the-art manufacturing machine technologies. Present at the opening ceremonies were (from left) Assistant Director Jhino Ilano of the Department of tr ade and Industry’s Export Marketing Bureau; Executive Director t h ermina Akram of Go n e gosyo; Economic Counselor Maros Martin Guoth of the Czech r ep ublic Embassy; tr ustee Bernardo Benedicto III of the Philexport Metal Manufacturers’ Sector; First Secretary Abdulhafid ta lha of the Libyan Embassy; PDMEX chair Hector Villanueva Jr.; Philexport president Sergio Ortiz-Luis Jr.; Deputy Chief of Mission Mohd. Fareed Zakaria of the Malaysian Embassy; Director-General ter eso Panga of the Philippine Economic Zone Authority; Ambassador n a sser Said Abdullah Al Manwari of Oman; Pasay City’s acting mayor Mark Anthony Calixto; Philippine Die and Mold Association’s president George Ong and director Martin Yabut; Chair and CEO Pamela Pascual of the World tr ade CenterMetro Manila; PDMA director Antonio Mangubat; Executive Director r o bert Dizon of the MID r C ; r u ssian Embassy’s acting trade commissioner Artem Kaloev; PDMA treasurer Lino Yu; Board of Investments executive director Ma. Corazon Dichosa; MIAP vice president Candy Lanzuela; as well as PDMA corporate secretary Virgilio Lanzuela and director Jimmy Chan. Data from Peza indicates that there are 285 registered firms within economic zones engaged in the die-and-mold industry, which have generated P23.49 billion in investments, and have created 35,487 jobs as of the first half of the year.

THE Korea International Cooperation Agency (Koica) is promoting local agricultural and livestock products to raise income of farmers, mainly those in Quirino Province.

Japan

support in reducing marine litter

GLOBAL barista Kobe Lee

GOVErnOr Dakila Cua and Ambassador Lee Sang-hwa

Sports

B8 | Thursday, sepTemBer 28, 2023

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

YULO PARTS WAYS WITH JAPANESE COACH KUGIYAMA

By Josef Ramos

CARLOS “CALOY” YULO has parted ways with Munehiro Kugiyama, his long-time Japanese coach and trainer who’s principally responsible for honing the Filipino gymnast to two world championships titles, a stint in the Tokyo Olympics and 15 gold medals in various international competitions.

It’s a long story,” Gymnastics Association of the Philippines president Cynthia Carrion-Norton told BusinessMirror via overseas call from the world championships in

Antwerp, Belgium, where Yulo eyes a return to the Olympics in Paris 2024.

A l ong story that could be traced to the 23-year-old Yulo’s personal life—or love life which CarrionNorton won’t confirm nor deny as she refuses any form of distraction to Yulo while in Antwerp, but a major reason which Yulo followers believe has forced the world champion back home from Tokyo.

Yulo, according to Carrion-Norton, has bolted Kugiyama’s training camp in Tokyo since July and has opted to train instead at the gymnastics center in Intramuros, Manila.

By bolting the Tokyo camp, Yulo also dropped his scholarship at the Teikyo University in Itabashi where he’s taking a degree in Literature.

Filipino Aldrin Castañeda will handle Yulo in Antwero while Carrion-Norton secures confirmation of her wards’s new foreign coach by the Philippine Sports Commission.

Coach Mune [Kugiyama’s nickname] is not here, and he is no longer the coach of Caloy [Yulo],” Carrion-Norton reiterated in her phone call with the BusinessMirror . “We already changed Caloy’s coach—and even in the Olympics

it’s no more [no longer] Mune.”

I already have a foreign coach, but I don’t want to reveal his name as long as I don’t get the proper confirmation from the PSC,” she added.

Yulo didn’t return to Tokyo after the Asian championships last June in Singapore where he won three gold, one silver and one bronze medals.

W ith Kugiyama out, Japanese physiotherapist Junpei Konno is also out, according to Carrion-Norton, who replaced the Japanese with Hazel Calawod.

But the PSC denied financial assistance for Calawod for the Antwerp

ALEX ASSURED OF BRONZE; BAD ANKLE DOOMS DIDAL

By Jun Lomibao

HANGZHOU—Alex Eala’s on a roll in the 19th Asian Games women’s singles competition of tennis following an inspiring 0-6, 7-5, 6-0 come-from-behind victory over Japan’s Kyoka Okamura Wednesday.

She’s now assured of a bronze medal for having reached the semifinal round at the world-class Hangzhou Olympic Tennis Centre that resembles those of Flushing Meadows, All-England Club and Roland Garros complete with an enormous airconditioned center court.

M argielyn Didal, on the other hand, wasn’t the same skateboarding star as she was five years ago when she won gold in women’s street in Palembang, Indonesia.

T he metal plates in her left ankle weighed her down in the Huangzhou

19TH A SIAN GAMES MEDAL

TALLY

R Country S B T

1People’sRepublic ofChina

744320137

2RepublicofKorea18182965

3Japan15252262

4Uzbekistan6101228

5HongKong,China571426

6India571022

7Thailand52815

8Indonesia32611

9Singapore2349

10ChineseTaipei2338

11IslamicRepublicofIran15814

12Kazakhstan12912

13Malaysia1247

14UnitedArabEmirates1135

15Tajikistan1113

16Macao,China1023

17Kuwait1012

18Kyrgyzstan1001

19DemocraticPeople’s RepublicofKorea 0336

20Mongolia0257

20Jordan0213

22VietNam0178

23Qatar0112

24BruneiDarussalam0101

24Oman0101

24SriLanka0101

27Philippines0022

final on Wednesday morning and she fell off her board in the first and second rounds and in three rounds of the tricks section.

She opted to withdraw with two more tricks across her name on the board.

I decided not to risk aggravating my injury,” said the 24-year-old Cebuana Didal, who injured her ankle in a major international competition in Brazil October last year.

Eala, 18 and seeded No. 4, groped like a neophyte in the first set with numerous unforced errors to Okamora’s solid baseline game. She was out of her elements that she lost her first serve.

But Eala found her second win and rallied furiously in the second set that went the extra mile, before taking full control in the third set where the 27-year-old Japanese reeled to find her own game back.

ala, a left-handed

Theoldcollegetry

THE collegiate season is off to a hot start. The National Collegiate Athletic Association of the Philippines (NCAA) opened last weekend in a burst of hoopla and color, starting business with a gem of a game between defending champions Colegio de San Juan de Letran and Jose Rizal University.

Its star-filled opening and the introduction of a mind-boggling innovation—the first AI sportscasters in local media—smade a bang, even as new formats in

survived South Korea’s Park Sohyn, 7-6 (4), 6-0, in the other quarterfinals matchup Wednesday.

Q inwen came into the Asian Games fresh from her upset of last year’s runner-up Ons Jabeur of Tunisia in New York lasty July.

E ala is ranked No. 192 while Qinwen No. 23 in the International Tennis Federation rankings.

The former US Open juniors champion has already secured the country’s first tennis medal since Cecil Mamiit and Eric Taino bagged two bronze medals in the Doha 2006 edition.

E ala teamed up with Francis Casey Alcantara in mixed doubles against top seed Yuki Bhambri and Ankita Ravinderkrishan Raina of India later Wednesday as Team Philippines— supported by the Philippine Olympic Committee

and Philippine Sports Commission— had medal chances in wushu.

It was obvious that Didal’s ankle hasn’t fully healed as she couldn’t run the form that won her one of the four gold medals won in the 2018 Indonesia Asian Games.

She, practically, was half her true form in the eight-athlete final dominated by teenagers—gold medalist Cui Chenxi, who’s 13, fellow Chinese silver medalist Zeng Weh Hui, who’s 18, and Japananese bronze medalist Muyi Ito, who’s 16.

F rom the get-go, Didal was sore with her performance and could only register 23.39 points, less than a third of what the front-running Chinese and Japanese booked for themselves.

He second run was scratched and made three consecutive zeroes in the trick section before deciding to quit.

It’s now the 2024 Olympics that would pre-occupy Didal, who’s currently ranked No. 40 in the world—the top 44 in the world will qualify for Paris.

W hile winning gold was extremely difficult for most of the 45 countries seeing action in the games, China made it look so easy and is now looking unreachable atop the tally board with 73 gold medals.

South Korea was still a far second with 17 and Japan in third with 13.

T hailand had three golds, Indonesia three and Singapore two gold medals among the Southeast Asian Games countries.

Short-handedFilipina golfersswingtoAsiadaction

and Lois Kaye Go launch their drive already

Asian Games at the West Lake International Golf Country Club in Malixi and Go are vying in the three-to-play, two-twocount competition where the country is the defending gold medalist in individual team play—Yuka Saso, now a Japanese citizen, won the individual

its coverage (TV stars like Pekto Nacua roving around neighborhoods to talk to NCAA fans) created more excitement among even casual NCAA fans.

T his weekend the other collegiate league, the University Athletic Association of the Philippines (UAAP), paints the town red as the University of the East (UE) takes on hosting duties and revs things up as only Red Warriors can.

The league “Rose As One” last year, bursting out of a restrictive three-years of Covid safety protocols.

Th is year it’s breaking free and going full throttle as it lives up to its theme of “Fueling The Future.”

U E President and Season 86 Chairman Dr. Zosimo Battad said the “Fueling the Future” theme reflects the unwavering commitment of our student-athletes and the entire UAAP community to overcome adversity and reach new heights. This season will showcase not only the incredible talents of our young student-athletes but also their potential to be catalysts for change.

U E Athletic Director and Season 86 President Rodrigo Roque invited everyone to celebrate the power of sports to inspire and unite. “UAAP Season 86 promises to be an exciting journey, where we will witness outstanding displays of skill, teamwork, and sportsmanship from our student-athletes,” he said.

trip forcing Norton-Carrion to spend her own money to make sure the physiotherapist is with Yulo in the world championships.

“Junpei is also no longer with us because he’s with coach Mune.

One thing I’m upset with is that the PSC didn’t approve our request to change the name of our therapist, so I am paying for Hazel’s ticket and everything,” she said.  Yulo vies in the qualification round in Antwerp this weekend hoping to advance to the final of the men’s individual all-around on October 5, floor exercise on October 7

and vault and possibly parallel bars on October 8.

H e has to be in the top eight of each apparatus to be in the finals and land in the top 24 of the men’s individual all-around final to secure a ticket to Paris.

A lso seeing action in Antwerp are Aleah Finnegan in the individual all-around event, balance beam, vault and floor exercise and Kylee Kvamme in the individual allaround of the women’s division. Yulo skipped the Hangzhou Asian Games for the world championships.

ConecautiousofLamb-ledThais asGilasPilipinaseyeswinNo.2

HANGZHOU—The Philippines rides the momentum of its rout of Bahrain the other day when it battles Thailand at the resumption Thursday of the men’s 5x5 basketball competition of the 19th Asian Games.

The game is set at 11 a.m. at the Zhejiang University Zijingang Gymnasium with Gilas Pilipinas going for a follow-up victory on its 89-61 rout of Bahrain and former Philippine Basketball Association import Wayne Chism at the Hangzhou Olympic Sports Center Gymnasium last Tuesday.

Th ailand, led by the prolific exUCLA star Bruin Tyler Lamb, hopes to rebound from a 97-63 thrashing at the hands of Jordan and former TNT Giga import Rondae Hollis-Jefferson also Tuesday.

Hollis-Jefferson, who will be rejoining TNT for the 2023-2024 PBA season once the Asian Games are over, played 30 minutes against the Thais and scored 20 points on 6 of 15 shooting with seven rebounds, two assists and three steals.

Gilas head coach Tim Cone was

talking about getting his hands on the video of the Jordan-Thailand game even before he had walked off the court after their match against Bahrain. We need to break down their game,” Cone said. “We saw them [Thais] in the Southeast Asian Games, but we’re not matched up against them. They were knocked out by Cambodia. So we hope we’ll have a better feel of Thailand than we did. We need to because Thailand’s a much stronger team than Bahrain.”

The Philippines won the gold medal in the SEA Games, beating host Cambodia in the final.

A s on the eve of the game against Bahrain, Cone presided over a film viewing of the Thailand-Jordan game with spliced clips of the Thais’ top players other than Lamb, who was 3 of 14 from the field, including 2 of 10 beyond the arc.

H is two rebounds were among the lowest for the team.

I n his place, 5-foot-8 guard Frederick Lish had 13 points on 6 of 19 from the field but was abysmal from outside, going 1 of 9 in treys.

Jun Lomibao

title that powered her, Go and Bianca Pagdanganan to the team gold in Jakarta 2018. They were supposed to be three but Princess Superal begged off because of her commitment to secure a Ladies Professional Golf Tour card and her replacement, Chanelle Avaricio, was denied accreditation by the Hangzhou Asian Games Organizing Committee because she wasn’t on the long list submitted by the National Golf Association of the Philippines.

B ut Malixi and Go remain upbeat of their chances in the individual competitions led by Chinese Yin Ruoning, the world’s No. 1 for two consecutive weeks from September

11 before yielding it to American Lilia Vu this week.

Y in, who edged Yuka Saso by one to score a major breakthrough in the Women’s Professional Golfers Association Championship last June, remains a marked player for the gold, along with India’s Avani Prashanth, Saki Baba and Mizuki Hashimoto of Japan and Thais Eila Galitsky, Patcharajutar Kongkraphan and Arpichaya Yubol.

But focus will be on a crack Korean squad seeking to regain the team gold it last won in 2010 in Guangzhou, its fourth in the last eight Asian Games.

The Koreans also swept the indi-

T he UAAP does have quite a few surprises this year, not just with its new stars that will step into the shoes of those who had shone before. Exciting new recruits and rookies moving up from the high school ranks merit attention, if not adulation.

L ike Far Eastern University’s JR Pasaol, National University’s Reinhard Jumamoy, University of Santo Tomas’s Mark Llemit and Gabriel Obusan, De La Salle’s Rhyle Melencio, UE’s John Cruz Dumont and Ethan Galang, Ateneo de Manila’s Kristian Porter and Mason Amos and University of the Philippines’ Francis Lopez, Seven Gagate and Luis Pablo.

T he league also unveiled not just a new basketball Commissioner this year but a whole team to “elevate the basketball tournaments to new heights.” Former student athlete Xavier Nunag who played with the UP Fighting Maroons in the late 90s and early 2000s and sat as assistant coach in the Ateneo Blue Eagles bench is the new Commissioner, taking over where he left off as interim commissioner last season.

I n a historic move, Girls Got Game Philippines founder and managing director, coach and staunch women’s basketball advocate Atty. Mariana Lopa was named Deputy Commissioner for women’s and girl’s basketball, becoming only the second woman to hold the position in league

vidual gold medals for three straight Asiad staging from 2006 in Doha, to Guangzhou to 2014 in Incheon. Saso broke that streak with a gripping come-from-behind victory in Jakarta. But she has opted for the Japanese citizenship month’s after winning the US Women’s Open in 2021 while Pagdanganan is focusing on regaining her Ladies PGA card. Superal would have been a key addition to the team but the first Philippine-born player to win a US Golf Association-sanctioned event, the US Girls’ Junior in 2014, begged off due to conflict in schedule with her Japan Step Up Tour campaign.

Jun Lomibao

history. She follows in the footsteps of Edith Boticario, who served as Deputy Commissioner in UAAP Season 82. M arvin Bienvenida, another former student athlete and champion coach in the juniors division, will serve as Deputy Commissioner in the high school division. UAAP Executive Director Atty. Rene “Rebo” Saguisag announced that UAAP Season 86 “will return to the normal, full calendar of thrilling competitions and a couple of additional demo events that will add even more excitement and diversity to this already amazing season.”

C ignal TV, the official UAAP broadcaster, introduced its new streaming service, Pilipinas Live—an app that will make watching the upcoming UAAP Season 86 games, especially the much-awaited basketball matches accessible to Filipinos both local and abroad.

T he UAAP also announced Varsity Lifestyle Co. as its official clothing line, “igniting a partnership aimed at bringing a fresh wave of school spirit and pride to the UAAP community.”

Students and fans of the eight member universities can wear their school colors and flex their school spirit with lots of feel-good gear.

The better to cheer on the new season and the heroes who will make it all worthwhile starting 12 noon on Saturday, September 30.

CARLOS “CALOY” YULO’S (center) personal issues gets

in the way of his successful partnership with Japanese coach Munehiro Kugiyama

(left) and physiotherapist Junpei Konno. PHOTO COURTESYJATTENORIO

ALEX EALA, 18, is looking like an ironwoman for Team Philippines while Margielyn Didal’s ankle doesn’t make her a back-to-back skateboarding NONIE REYES(CANONEOSR6)

Coach Tim Cone huddles his wards during the Bahrain game. PHOTOBYNONIEREYES(CANONEOSR6)

Anne Ruth Dela Cruz

When VOG becomes in vogue, Filipinos should immediately seek medical help

By Rory Visco Contributor

outside activity.

Vog’s public health effects

ACCORDING to Dr. Beatriz TanHelera, an internist, pulmonologist and a member of the Committee on Climate Change, Environment and Health of the Philippine College of Physicians said that vog is a visible haze comprised of gas and an a erosol of tiny particles and acidic droplets created when sulfur dioxide and other gases emitted from v olcanoes chemically interact with sunlight and atmospheric oxygen, moisture and dust.

bers are exceeded, Dr. Tan-Helera s aid this will cause decreased visibility, damage to animals, crops a nd vegetation.

Why does sulfur dioxide present potential health risks, especially respiratory health? Dr. Tan-Helera said sulfur dioxide, combined with sulfate particles, is considered ultra-fine, just like in baby powder or talc.

health. Being highly water-soluble means it can easily be absorbed in the body’s “mucosae,” where it can be highly absorbed in the linings of our eyes, the mouse, nose, throat, and the respiratory tract, making these parts of the body at risk.”

Effects on lung health

o f fluid in the lungs, and diffuse alveolar damage (DAD).

Protection from vog

The Department of Health (DOH) said that as of Monday, September 25, 2023, almost 700 individuals in several towns and cities in Batangas province have already been affected by vog, with three people hospitalized. Although the Phivolcs has already reported that the vog at Taal Volcano had cleared, it will remain a recurring threat. For its part, the DOH advised people, particularly those sensitive to vog such as those

with asthma, lung and heart disease, the elderly, pregnant women a nd children, to remain indoors whenever they can. This is to avoid the possible effects of being exposed to sulfur dioxide emission. T hey have also been advised to wear protective gear, specifically N95 face masks, which serves as the best protection against sulfur dioxide and other dangerous volcanic debris, if they are to leave their homes for work, school or any other

“Sulfur dioxide, together with particulate matter, nitrogen dioxide, and ozone are the major types o f air pollutants that affect the respiratory system. Sulfur dioxide and other sulfides can also be produced by burning coal, fossil fuels, c rude oil in power plants, oil refineries, or even inside homes through k erosene,” she said.

Dr. Tan-Helera revealed that the acceptable air quality standards set by the US Environmental Protection Agency (EPA) to protect h ealth in terms of sulfur dioxide concentration should not exceed 75 parts per billion (ppb), and 500 ppb as secondary standard to protect public welfare. When these num -

C ompared to sulfur dioxide particles, which is less than one micrometer in diameter, she said that a b aby powder particle size, on the other hand, ranges from 12 to 44 microns. “This means a particle of sulfur dioxide is 44 times smaller compared to a powder particle. Size of the particle is very important because it determines how far it travels, how long it will remain in the air, and how far it goes in the respiratory system,” Dr. Tan-Helera explained.

Ultra-fine particles, she said, have short atmospheric half-life because of the physical clumping and its chemical properties. Another very important property of s ulfur dioxide is that it is highly water soluble. “This is a very important property of sulfur dioxide b ecause this is the main reason why it can create potential harm to our

VOG affects our lung health, Dr. Tan-Helera averred, through bronchoconstriction or the closing of t he airways, which is the primary effect of sulfur dioxide. Those who are asthmatic are mostly sensitive to the effects of sulfur dioxide, such as difficulty in breathing, chest heaviness, coughing and wheezing.

Exposure to sulfur dioxide concentration of 200-300 ppb for about f ive to 10 minutes may decrease lung function among asthmatics, which may lead them to become symptomatic, meaning more emergency visits or admissions due to b ronchial asthma, she pointed out.

When greater concentration of sulfur dioxide reaches the lower airways, Dr. Tan-Helera said it can cause damage to the “alveoli,” or the very small air sacs where the exchange of oxygen and carbon dioxide take place. If the alveoli is damaged, it can cause pulmonary edema, or abnormal buildup

T H E DOH Advisory on Volcanic Smog pointed to avoiding outdoor activities, especially in the Calabarzon area to lessen exposure. If it c annot be avoided, do it as quickly as possible, wear protective clothing like jackets and jeans, and use g oggles to protect the eyes.

People can also close their doors and windows, especially in areas near a volcano, to prevent vog from entering the house, stay hydrated, and wear an N95 mask, which has a 95-percent efficiency of filtering out contaminants such as dusts, mist, fumes, including viruses, and can filter up to 0.3 microns of particulates, compared to a surgical mask that can only filter up to 3 0 percent of particle size that is less than one micron. “This was the same medical-grade mask approved for use by the National Institute for Occupational Safety and H ealth during the pandemic,” Dr. Tan-Helera said.

Better yet, Dr. Tan-Helera advised those who do not feel well to i mmediately seek medical help at the onset of symptoms, or emergency visits if needed.

Editor:

LASTweek, the Philippine Institute of Volcanology and Seismology (Phivolcs) issued a notice that Volcanic Smog (VOG) had appeared over Taal Lake. The notice said that as continuous upswelling happened at the Taal Main Crater Lake, it generated steam plumes that soared to 2,400 meters. Volcanic sulfur dioxide (SO²) gas emissions were also measured, totaling 4,569 tons per day.

Makati Med launches Esketamine Care Center for patients with severe depression

By Candy P. Dalizon

Premier Philippine hospital makati medical Center (mmC) recently launched its esketamine Care Center that offers out-patient based treatment for patients with Treatment resistant Depression (TrD) and major Depression with immediate Suicide intent (mDSi)

MMC’s e s ketamine Care Center is the first in the country and second in Asia. e s ketamine is a newly approved FDA medication.

Treatment-resistant depression happens when at least two different antidepressants do not improve the patient’s symptoms. On the other hand, patients with MDSI require immediate intervention.

“Suicidal ideation, plan or selfharm, we consider that a psychiatric emergency. You will be at the e R a nd you will be admitted because your safety is a concern,” said Dr. Carmina Charmaine G. Bernardo, Mood Disorder Specialist and Consultant in charge of the e s ketamine Care Center. Dr. Bernardo talked about the new center in the recent episode of MMC’s h e alth vo dcast.

24/7 monitoring

She related that some patients do not want to be hospitalized, so they prescribe antidepressants and other medications. Doctors also instruct caregivers to stay with the patient 24/7 to ensure their safety.

Though oral antidepressants can be effective at reducing depressive

symptoms, patients usually start to feel better only after two weeks.

“Now patients have an option. With e s ketamine, bibilis ang treatment and it’s outpatient. We can already see significant improvement in just two hours instead of two weeks,” said Dr. Bernardo.

“For antidepressants, it is always oral. e s ketamine is administered through the nose and our nose is very vascular, it has a lot of blood vessels. e s ketamine utilizes that in order to get to the target organ which is the brain. So as quickly as two hours, we can actually see improvement,” Dr. Bernardo explained.

n a sal spray e S k e TAMIN e is a nasal spray that is taken by the patient under the supervision of a nurse at the center. The dosing of esketamine for TRD is two devices per session. A standard protocol for patients with TRD and MDSI is followed.

Uncontrolled Increased blood pressure, known history of aneurysm, vascular diseases or hypersensitivity to esketamine are the contraindications to receiving the medication.

Patients diagnosed with TRD or MDSI can be referred by their psychiatrist to the e s ketamine Care Center for treatment. They will be evaluated if they meet the indications for treatment with esketamine. The indications and possible adverse reactions will also be discussed by the center’s psychiatrist with the patients.

Once the patients give their consent, they will be scheduled for the treatment.

Patient’s vital signs will be checked at baseline and monitored every 30, 60 and 120 minutes. Likewise, a Psychiatry resident physician will also check for the baseline psychiatric symptoms of depression, suicidal ideations, and anxiety. A nurse and a resident physician will be monitoring the patient throughout the treatment. Any adverse events will be reported to the attending psychiatrist.

Adverse reactions

The expected adverse reactions to esketamine are hypertension, sedation, hallucinations and dissociation but these are only transient and usually

8-Point Agenda

The World h e alth Organization (W hO) is calling on world leaders to put health for all on the highest political agenda and apply lessons learned from the Covid-19 pandemic during high-level me etings at the 78th session of the United Nations General Assembly (UNGA 78) in New York.

Since the declaration of the Covid-19 pandemic, the biopharmaceutical industry has partnered with the g overnment, medical community, academe and patients to cushion the devastating impact of the global health emergency on the lives and health of Filipinos.

resolve within two hours.

After two hours, once the patient’s vital signs are stable and provided that the patient has a companion to bring him or her home, the patient will be discharged from the center.

During the first four weeks of treatment, patients come to the clinic twice a week. Patients will be following up with their own psychiatrist. Treatment with esketamine for TRD and MDSI can be continued based on the psychiatrist’s clinical judgment.

The Makati Medical Center, Section of Psychiatry’s e s ketamine Care Center is located in the Neuropsychiatry Unit, Basement, Tower 1.

If you or someone you know needs help, the National Center for Mental h e alth (NCM h ) c risis hotlines can be reached at 1553 (Luzon-wide landline toll free), 0917-899-USAP (8727), 0966-351-4518, and 0908639-2672. (https://doh.gov.ph/NCMHCrisis-Hotline)

You may also call hopeline Ph: 0 9175584673, 0918-8734673, 88044673 or visit ngf-mindstrong.org and its Facebook account: ho peline Ph

Calls for aggressive info campaign vs deadly Nipah virus intensify

By Claudeth Mocon Ciriaco

House Deputy Majority Leader Janette

Garin has called for the immediate collaboration between the Department of Health (D o H ) and the Department of Agriculture (DA) for the aggressive surveillance and information campaign about the deadly Nipah virus to prevent Filipinos from being infected.

“There should be actual and reliable information available for the general public without being an alarmist. We should not scare people, but they should know the truth about the virus and why it happens,” Garin said in a radio interview.

“From e b ola to Zika to M e R s CoV to Covid-19 to Nipah. This overemphasizes the need to prioritize s u rveillance Centers in each D o H R egional Hospital immediately. A little investment in an office and experts can go a long way” the former health secretary said.

According to the Centers for Disease Control and Prevention (CDC), the Nipah virus can cause mild to severe disease, including swelling of the brain (encephalitis) and potentially death.

The Nipah virus is usually transmitted from animals to humans and people can be -

come infected if they have close contact with an infected animal or its body fluids.

The Nipah virus is a member of the Henipaviruses and this belongs to a genus of recently emerging viruses within the Paramyxoviridae family. In addition to the Nipah virus, another remember is the Hendra virus (HeV).

In 2014, there was one recorded case of the Henipah virus infection in the Philippines. It was detected in s u ltan Kudarat.

Based on the investigation, the reported cases developed signs and symptoms after exposure to horses and/or its meat. Additionally, 17 suspected cases were also detected in April 2014 during the joint field investigation. s i gns and symptoms observed were fever, headache with changes in sensorium, cough, and difficulty of breathing.

o f t he 17 suspect cases, eight cases fully recovered while the other nine expired. s in ce then, no similar health events or suspected cases have been reported to the e p idemiology Bureau,” the Department of Health (D o H ) said.

n i pah virus

A LTH o u GH t has been reported that the Kerala state in India has already contained

the Nipah outbreak, the D o H a ssured that it has established a surveillance system if additional cases will appear.

“But to date, no similar health events have been detected,” the D o H s aid.

Additionally, the D o H s aid, it continues to strengthen its public health interventions as part of its e ight-Point Action Agenda which places emphasis on disease prevention through health promotion and communication as well as Infection-Prevention-Control (IPC) measures to reduce the transmission of infections, including the Nipah Virus.

The nipah virus is a zoonotic virus transmitted from animals to humans and can also be transmitted through contaminated food or directly between people.

T he case fatality rate is estimated at 40 percent to 75 percent. This rate can vary by outbreak depending on local capabilities for epidemiological surveillance and clinical management.

In infected people, the World Health o r ganization (WH o) s aid, the virus causes a range of illnesses from asymptomatic (subclinical) infection to acute respiratory illness and fatal encephalitis.

T he virus can also cause severe disease in

animals such as pigs, resulting in significant economic losses for farmers.

A lthough the Nipah virus has caused only a few known outbreaks in Asia, it infects a wide range of animals and causes severe disease and death in people, making it a public health concern.

There is no treatment or vaccine available for either people or animals. The primary treatment for humans is supportive care.

Past Outbreaks

T H e Nipah virus was first recognized in 1999 during an outbreak among pig farmers in, Malaysia. No new outbreaks have been reported in Malaysia since 1999.

I t was also recognized in Bangladesh in 2001, and nearly annual outbreaks have occurred in that country since. The disease has also been identified periodically in eastern India.

o t her regions may be at risk for infection, as evidence of the virus has been found in the known natural reservoir (Pteropus bat species) and several other bat species in a number of countries, including Cambodia, Ghana, Indonesia, Madagascar, the Philippines, and Thailand.

PAGCOR licensees give ₧60 million for new VMMC wing

The Veterans Memorial Medical Center will soon have more patient rooms with the start of construction for the Magiting Veterans Wing through a P60 million grant from two licensees of the Philippine Amusement and Gaming Corporation (PAGCo R).

The Magiting Veterans Wing is a project initiated by the Philippine Military Academy Magiting Class of 1970 with funding support from Bloomberry Cultural Foundation Inc. (BCFI) and Newport World Resorts Foundation, Inc. (NWRFI), among others.

The two foundations, representing s ol aire Resort and Newport World Resorts, respectively, each released P30 million with PAGCo R ’s approval.

The project will be carried out in two phases. The first will be sponsored by BCFI and

covers civil, structural, mechanical, electrical, masonry works and roof deck waterproofing while the second phase will be funded by NWRFI and consists of works, fixtures and devices.

new private rooms

T H e Magiting Wing will have a total floor area of 1,379.84 square meters and will house 12 new private rooms inclusive of four suites, a nurse station, lounge area, hallway, storage, access ramp and connecting bridge to the main hospital building.

PAGCo R C hairman and C eo Alejandro H.

Tengco said the agency approved the grant from the casino foundations because of the project’s noble objective. “PAGCo R r ecognizes the patriotism and sacrifice of Filipino veterans who dedicated

their youth, vigor, strength and even lives for our country. By supporting this noble project, we show our gratitude to our modern-day heroes and their families,” he said.

Tengco said all integrated resort casino licensees in the country are required to put up a foundation to fund Corporate s o cial Responsibility programs on education infrastructure, health facilities, environmental preservation and cultural heritage restoration.

Two percent of the licensees’ gross gaming revenues from non-junket tables automatically go to such foundations.

Project supporters De F e N se s e cretary Gilberto C. Teodoro, who graced the ceremonial concrete pouring for the project, expressed gratitude to the proj -

“We are committed to play our part in future pandemics and further research and development (R&D) is essential to help us prepare. We share the moral imperative to respond faster and do better to ensure equitable a ccess to treatments and vaccines,” said the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) in a statement during the UNGA.

Dr. Diana e d ralin, president of the Pharmaceutical and h e althcare Association of the Philippines ( Ph A P), said that the opportunity to achieve the highest level of health and well-being for all Filipinos has been never more evident with Covid-19.  The pandemic has proven that multi-sectoral collaboration proved an effective catalyst in addressing the most pressing healthcare challenges and needs, and in revitalizing t he economy.   “Learnings from this pandemic response should be carried forward in enhancing the timely delivery of standard care, working together to build a more resilient and sustainable healthcare system.  This is a huge undertaking that can only be achieved when both the public and private sectors will continue to have this shared responsibility of bringing together their respective strengths and solve for these social challenges, based on trust and high level of c ommitment,” said Dr. e d ralin who is currently leading the 40-member strong organization representing the biopharmaceutical industry in the Philippines.

Health targets

M O R e O ve R , t he W h O i s urging leaders to accelerate the achievement of health targets as outlined in t he Sustainable Development Goals with specific focus on delivering universal health coverage (U h C ). The attainment of SDG 3 requires investing more and investing better on effective interventions toward U hC t hrough a multi-stakeholder approach.

e d ralin, who is also the general manager of Roche Philippines, p rovided examples of how they are contributing to fast track U hC i n the country. In the process, the company is supporting the Department of h e alth 8-Point Agenda on mainstreaming the primary care approach, access to high-quality, safe and people centered services, and ensuring health human resource development among others.

ect supporters.

“As donee, we will provide the necessary maintenance and other operating expenditures to see to it that your donations will not go to waste,” he said.

Teodoro said other plans to improve the welfare of Filipino veterans include decentralizing the VMMC’s services and the upskilling of hospital personnel so that doctors and specialists can focus more on caring for patients.

“No soldier ever retires. They are always a part of the system. They provide guidance and support to our active personnel hence their job as a soldier is never done,” he said.

Aside from BCFI and NWRFI, other major sponsors of the Magiting Veterans Wing project are DMCI, s a n Miguel Corporation and some retired military personnel.

o f people and strengthen society. It aims to accelerate the transformation in healthcare outcomes by  a ttempting to achieve 2030 health systems today. The pilot program which was launched in Tacloban City in partnership with the City h e alth Office, Local Government unit, Department of e d ucation, e a stern v isayas Medical Center, and Tingog P arty list among others, to improve primary healthcare and help develop a fully funded referral system using the journey of a breast or cervical cancer patient as a focus. As of today, they have already educated and s creened more than 1,000 Dep e d teachers and non-teaching staff. With the aim of broadening access to the standard of care through capability and capacity building, Roche p artnered with Project e C hO ( e xtension for Community h e althcare Outcomes) globally, with the Philippines as one of the seven pilot countries. The innovative platform offers a c ollaborative video telementoring model for medical education and care management that connects national centers of excellence to remote and underserved areas.

Today, Project e C h O has been successfully implemented in training the barangay health workers in G uagua, Pampanga and Samal, Bataan on screening, early detection and p atient navigation for breast cancer, in collaboration with the Philippine Society of Medical Oncology (PSMO).

One of the key milestones for the e C hO p rogram was the local government issuing a municipal law to e nsure continuity and sustainability of the project through the allocation of funding and resources for early breast screening and detection.

Critical success factors

B R INGING w ith her a deep portfolio in enabling PPPs, Dr. e d ralin shared critical success factors for collaborations.

“We have also ensured that community health workers are also included and supported. By training a nd mentoring healthcare personnel in underserved or rural communities, it enables them to diagnose a nd treat patients faster and more effectively, providing better care to more people, right where they live,” Dr. e d ralin said.

Mission Leapfrog

A MON G t heir flagship programs that support the DO h 8-Point Agenda, for example, are Mission Leapfrog a nd Project e C hO

A collaboration between Roche and ecosystem partners, Roche launched Mission Leapfrog 2030 to accelerate transformation in healthcare outcomes that improve the lives

She said that it is important to simplify and uncomplicate the initiation of PPP. Secondly, focusing on s upporting governments’ efforts to build strong and resilient healthcare systems creates that clear path of success for PPPs in health.   Thirdly, working closely with partners, both in the public and private sectors, as well as with patients and patient advocacy groups allow collaborators to d evelop, evolve and deliver tailored access solutions that truly reflect individual healthcare needs.

Asked what the country could expect from Roche and Ph A P, Dr. e d ralin said that they will expand public-private partnerships to develop tailored solutions that help e nsure rapid, broad and sustainable access, which also leads to full economic recovery.

“

We will continue on the momentum with PPPs as we continue t o learn from each other, co-create solutions to closing inherent gaps in the standard of care and address its most pressing challenges, without sacrificing the interests of the planet or people,” Dr. e d ralin said.

Exemplifying public-private partnerships to achieve SDGs, DOH

Dr. Diana Edralin, President of Pharmaceutical Healthcare Association of the Philippines and General Manager of roche Philippines.

In the photo are, from left, MakatiMed Section of Psychiatry Mood Disorder Specialist, Carmina Charmaine G. Bernardo, MD; MakatiMed Co-President and CEO & Medical Director Saturnino P. Javier, MD, and MakatiMed Chairman of the Department of neurological Sciences Edgardo Juan L. Tolentino, MD during the Esketamine Care Center inauguration.

& Fitness

Asian Hospital and Medical Center wins big at Hospital Management Asia Awards 2023 in Malaysia

Asian Hospital and Medical Center ( a H MC)

bagged the Excellence aw ard for its initiative to improve the discharge process for inpatients at the Hospital Management a s ia aw ards (HM a ) 20 23 held in Kuala Lumpur, Malaysia on s e ptember 6, 2023.

Titled “ i n novate to a c celerate: i m proving the Turnaround Time for i n patient Discharge Process using Lean s i x s i gma Methodologies,” the project was given the Excellence aw ard under the Financial i m provement Category.

T he HM a a w ards recognizes the best hospital practices in a s ia.

Launched in 2002, it runs alongside the annual Hospital Management a s ia conference and has grown into the most prominent hospital management awards in the region. The aw ards seek to highlight innovative and progressive projects undertaken by hospitals across the region to improve outcomes.

O n hand to receive the award were Dr. Jose M. a c uin, Chief Medical Officer; a r vin Mark T. Pascual, a s sociate Director for Quality Management Group; Maybel s . R aymundo, s e nior Manager for Business

Office Department; Justin Matthew C. s a mar, Manager of Quality

i m provement s c iences; Ma. Raquel Dagami, Manager of n u rsing Operations s upport; and Jaquelyn M. M angurali, a s sistant Manager for Patient n a vigation. a c cording to Dagami, Mangurali, s a mar, and s a ntiago, the initiators of the project, there was a need to speed up the discharge of inpatients in order to decongest the overcrowded E mergency Room (ER).

“During the pandemic, there was a huge demand for beds, and it was crucial to discharge patients. We needed an efficient and sustainable process to provide patient rooms,” Dagami said.

Lean Six Sigma methodologies PROCE ss improvements were identified and interventions were carefully t ested using Lean s i x s i gma methodologies. a c cording to the a me rican s o ciety for Quality, Lean s i x s i gma

is a fact-based, data-driven philosophy of improvement that values d efect prevention over defect detection. it drives customer satisfaction and bottom-line results by reducing variation, waste, and cycle time while promoting the use of work standardization and flow, thereby creating a c ompetitive advantage.

“The goal was to reduce discharge time to less than four hours using Lean si x sigma Principles. Using the DM a iC (Define, Measure, a n alyze, i mprove,

CALLS For bAn on TobACCo AdverTISIng InTenSIFy AS PArenTS PuSh For heALThIer SChooL envIronmenT

By Claudeth Mocon-Ciriaco

Say no to smoking and vaping but yes to breathing healthy air.

a health advocacy group called on the Department of Education (DepEd) and local government units (LGUs) to strictly implement smoke and vape-free environment to further protect youth from the harmful effects of tobacco.

The Parents a g ainst Vape (PaV ) said that “smoke- or vape-free” should be more than just a sign on the gate.

“The schools and LGUs should ensure that no person should smoke whether inside or outside of the school, at any time of day,” PaV s aid.

PaV al so said that smoke- and vape-free schools will provide decreased exposure to secondhand smoke, wherein even brief exposure can cause serious health problems and can be deadly.

“There is no safe level of exposure to secondhand smoke,” PaV s aid, stressing that commercial tobacco smoke contains hundreds of harmful chemicals. There are more than 7,000 chemicals in commercial tobacco smoke, including hundreds of chemicals that are toxic and about 70 that can cause cancer, according to the US Centers for Disease and Control Prevention.

In a 2 021 study, Johns Hopkins University researchers uncovered almost 2,000 undis -

closed chemicals in vaping aerosols, including six potentially harmful compounds, among them a pesticide.

Sale, marketing of cigarettes, e-cigarettes, hTPs

M E a nw HILE , an o bservational study conducted by the Institute for Global Tobacco Control (IGTC) at the Johns Hopkins Bloomberg School of Public Health finds that tobacco and nicotine product sale and advertising persist within the proximity of schools in the Philippines despite regulations prohibiting sales, displays, advertisements, and promotions of tobacco products within 100 meters.

The study monitored the sale and marketing of cigarettes, e-cigarettes, and heated tobacco products (HTPs) at 6,617 retailers within 200 meters of 353 schools in urban and rural areas of nine Filipino cities/regions, during the months of December 2022 to January 2023.

In violation of Filipino law, 2,070 cigarette, 43 e-cigarette, and 33 HTP retail locations were observed within 100 meters of the majority of schools.

Tobacco advertising, promotion, and sponsorship targeting youth at points of sale are common tobacco industry tactics that can lead to youth tobacco initiation and reinforce use among those who currently use these products.

yo ung people and adolescents can be par-

ticularly susceptible to the influential effects of point-of-sale marketing such as strategically located product displays, sales of single stick cigarettes (which make cigarettes more affordable), and prominent advertising, including at children’s eye level.

Findings show that despite policies requiring signages indicating that sales are prohibited to people under 21 years of age, only 11 percent of cigarette retailers, four percent of e-cigarette retailers, and 48 percent of HTP retailers had the requisite signage visible. n ine ty-eight percent of cigarette retailers sold single stick cigarettes, and indoor and outdoor advertising (e.g., graphic printed signage/ posters) were common across all retailer types.

Flavored tobacco and nicotine products

aLS o, f lavored tobacco and nicotine products were also commonly available across retailers, including 90 percent of cigarette retailers and 98 percent of e-cigarette and HTP retailers.

Flavors can expand product appeal by masking the harsh taste of tobacco. Flavored products are also linked to increased product appeal and initiation among young people.

a c cording to Jennifer Brown, a scientist from the Institute for Global Tobacco Control (IGTC) at the Johns Hopkins Bloomberg School

Control) phase, we systematically addressed the causes and enhanced the process,” sa mar pointed out.

Through this methodology, pain points were identified, and processes were improved.

“Billing initiatives improved different discharging processes by communication with payors and additional staffing in the nursing floors,” said s a ntiago, adding that the turnaround time for discharging inpatients had reached their f our-hour goal.

Mangurali added that “even with the rising number of admissions, the turnaround time continues to

of Health and the study investigator, “Stricter enforcement of existing policies prohibiting sales and advertising of tobacco products within 100 meters of schools and implementation of a national comprehensive policy on tobacco advertising, promotion, and sponsorship can protect the well-being of Filipino youth and reduce the rate of tobacco-caused death and disease in the Philippines.”

a c cording to the 2019 Global a d ult Tobacco Survey (G aT S), one in five Filipinos aged 1315 years old currently use tobacco while one in seven Filipino youth use vapes or heated electronic products. Seventy seven percent of those who smoke bought products from stores, kiosks, or street vendors, contrary to laws prohibiting sales to youth.

The proximity of tobacco and nicotine product stores, shops, street vendors, and kiosks to schools contribute to the wide availability of these products and leave Filipino youth exposed to tobacco marketing strategies.

Comprehensive ban

I MP LEME n T I n G a c omprehensive ban on tobacco advertising, promotion and sponsorship is one of the most cost-effective and high-impact ways that countries can reduce demand for tobacco, and the w H o Framework Convention on Tobacco Control (FCTC)—to which the Philippines is a signatory—provides guidelines for doing so.

IGTC’s study can inform comprehensive restrictions on tobacco advertising, promotion, and sponsorship at points-of-sale, which can help reduce youth tobacco use and encourage people who use tobacco to quit.

Bong Go supports bills seeking to establish National Disease Prevention Management Authority, Medical Reserves Corps, Virology Institute

SE n aT o r Christopher “Bong” Go has extended his full support for the establishment of the n at ional Disease Prevention Management a u thority, Medical r eserve Corps, and the Virology Institute of the Philippines.

The measures were discussed during the Third Legislative-Executive Development a dv isory Council (LED a C ) meeting.

w h en asked about the progress of these initiatives, Go, chairperson of the Senate Committee on Health, responded, “a s t he chair of the Senate Committee on Health, I fully support these intiatiives.”

Go was interviewed last September 21, 2023 at the groundbreaking for the Super Health Center in San Mateo, r i zal, his full support for the establishment of the n at ional Disease Prevention Management a u thority, Medical r e serve Corps, and the Virology Institute of the Philippines. “The bills are in the subcommittee under

the leadership of Senator Pia Cayetano. w e a lready had a hearing about this and I was one of the senators who filed the bills. Hopefully, these will be passed into law this year,” said Go.

“These are the priority bills of President Bongbong Marcos and were mentioned during the LED a C s o I support them,” he said.

Go clarified that the n DPM a is essentially the same as the previously named Center for Disease Control and Prevention (CDC) bill.

First of all, the bills are mentioned in the Philippine Development Plan of President and whatever these center will be called, I will throw my support behind them,” added Go.

The senator emphasized the importance of being prepared for possible future pandemics, citing the country’s experience with C o V ID-19.

“It is better to be ready and prepared. It is important that we have a center or a department that will help us prepare for future pandemics,” he said.

He recalled how the r e search Institute for Tropical Medicine ( r IT M) became a crucial office for Covid-19 testing, despite almost losing its funding during the 2019 budget deliberations.

“In 2019, prior to the pandemic, there were proposals to cut the budget of the r e search Institute for Tropical Medicine. I did not agree to the budget cut, in fact we added to the budget during the deliberations. w ho would have imagined that r IT M would become an important agency during the pandemic? The r IT M is capable of doing tests on a number of infectious diseases including Covid-19,” he said.

He concluded by saying that he supports these initiatives that will benefit Filipinos, the healthcare system, and the less fortunate.

w h ile I may be counted only as one vote, I support all these bills.”

The senator has filed his own versions of these measures in the Senate. Go has filed Senate Bill n o 195 or the creation of a Center

for Disease Control (CDC). If passed into law, CDC will serve as the country’s central hub for disease prevention, surveillance, and control, focusing on both infectious and non-communicable diseases.

a n other key legislative measure from Go is SB n 196, which seeks to establish a Virology Science and Technology Institute. The institute is envisioned as a center for virology that will enhance the country’s capacity to study, detect, and combat emerging and re-emerging infectious diseases. He also filed SB n 1180 which seeks to establish a Medical r e serve Corps composed of individuals who have degrees in health-related fields but have yet to obtain professional licenses. The Medical r e serve Corps may be called upon to assist the national government and the local government units in their functions related to addressing the medical needs of the public in times of national emergencies.

improve, leading to a large number of patient discharges.”

The project initiators concluded that sustainable projects can be achieved through the implementation of interventions that specifically target the root causes of issues a nd establish improved processes by embracing the principles of lean six sigma.

“Over time, these enhanced processes will contribute to better performance and outcomes, including l ong-term benefits that positively impact revenue,” they said.

They added that it is important to closely monitor the various processes involved to facilitate continuous improvement and that this should be s upported by the hospital’s leadership who can provide guidance and a llocated necessary resources.

This was seconded by Dr. Beaver Tamesis, President and CEO, who said that it is through such projects that a s ian Hospital can continue to serve their patients with the quality care they deserve.

“With data driven solutions plus a strong collaboration, we continue to provide the best outcomes with quality, safe, and high-value healthcare,” D r. Tamesis said.

PF i z ER P hilippines has partnered with the PCOM to provide educational initiatives to healthcare providers (HCPs), promote enhanced learning, and drive excellence in clinical care.

The landmark partnership was solidified through a memorandum of agreement (Mo a ) signed by Pfizer Philippines Country Manager s o -Myung Lim and PCOM President Dr. a n na s o fia Victoria Tamayo s a lazar-Fajardo.

This milestone is a major boost to Pfizer’s goal of increasing access to quality healthcare services and information through sustainable programs and strong collaborations with health stakeholders, especially those in the medical community. This is also consistent with PCOM’s goal of promoting enhanced learning and driving excellence in patient care among its members. Ultimately, the partnership will strengthen initiatives aimed at safeguarding and promoting workers’ health, wellness, and safety.

“a t P fizer Philippines, we are all-in on our purpose of bringing breakthroughs that change patients’ lives and in advancing our business principle s c ience will win’. We believe that fostering collaborations across various stakeholders is vital in accelerating the ability of HCPs to address occupational health and safety needs,” said Lim.

“The initiatives that are part of this remarkable partnership with PCOM will drive not only our healthcare system, but also the Filipino workforce towards growth, especially as we continue to recover from the pandemic.

We are grateful for this opportunity to work with PCOM and looking forward to the milestones that we’ll achieve

together,” added Lim. Under the agreement, Pfizer and PCOM will conceptualize, launch, and implement continuing medical education programs, specifically Continuing Professional Development through the Modular Learning sy stem and Webinars, which are geared toward providing online information and learning.

The Mo a also allows the organizations to coordinate an information drive regarding workforce healthcare and protection through vaccination with various educational channels such as webinars and chapter event, including lay forum modules cascaded to employees of corporations managed by PCOM members.

Through the partnership, PCOM members are expected to gain knowledge on the basics and current trends of relevant topics, including vaccine-preventable diseases for employees, disposition of employees with contagious disease, and post-exposure prophylaxis for employees, among others.

“We at PCOM recognize that Pfizer Philippines has the capability and resources to create collaborations and develop initiatives to advance the knowledge of healthcare professionals in relation to occupational health and safety,” said Dr. Fajardo.

“PCOM and Pfizer also have a shared belief that effective collaboration can go a long way in pursuit of continuing education for the medical community to consequently bring positive impact to the Filipino workforce, hence contributing to the recovery of our economy in the post-pandemic era. We found a key partner in Pfizer, and we are beyond grateful to share expertise for future initiatives,” added Dr. Fajardo.

The excellence Award under the Financial Improvement Category

Pfizer Philippines, PCOM partner to elevate healthcare professionals’ capabilities

o n hand to receive the award were, from left, Arvin mark T. Pascual, Associate director for Quality management group; dr. Jose m. Acuin, Chief medical o f ficer; Jaquelyn m mangurali, Assistant manager for Patient navigation; maybel S. raymundo, Senior manager for business o f fice department; ma. raquel dagami. manager of nur sing operations Support; and Justin matthew C. Samar, manager of Quality Improvement Sciences.

Filipino brand comes up with solutions to address menopausal problems

By Roderick L. Abad Contributor

MOST women experiencing perimenopause and m enopause, especially in a very c onservative society like the Philippines, find it difficult to express or e ven share what’s going on in them once their menstrual cycle ends.

According to Pro Age Solutions’ Chief Advocate and Founder Claudine Viquiera, what makes their j ourney to this critical period in their lives even harder is the fact that there’s no local community that addresses the problems that they encounter.

In fact, she said during their recent launch event in Bonifacio Global City, Taguig that Western countries, particularly in the United States, have just started having c ommunities that support these women since there’s still a stigma and taboos that exist when talking about menopause.

“What more in our country! So locally, I tried to search. But there’s really none,” she said of her personal experience when she finally reached the gateway to aging just earlier this year. “Sometimes we just turn to our friends or relatives to talk about it. But still there’s some degree of embarrassment whenever the topic of me nopause is brought up. I guess it’s because when you say menopause, it’s a sign that you’re aging. Again, a negative notion about agism.”

Natural biological process

M e NOPAUSe is a natural part of aging. It is a point in time when a person has gone 12 consecutive months w ithout a menstrual period due to the gradual loss in ovarian follicular function and the decline of hormones. One of these hormones is called progesterone. When its production in the ovary becomes low, the regular menstruation comes with heavy b leeding that could possibly be prolonged, per restorative dermatologist Dr. Jean Marquez.

W hen the male sex hormone— the testosterone—that women also have in small amount decreases, there is a loss of libido or sexual desire, she noted. But the estrogen is the major culprit in menopause,

she pointed out.

“Actually, most of the symptoms that we see in menopause is b ecause of estrogen decline. This is what causes vaginal dryness, atrophy and walls, flushings, sweating, headaches, and memory loss,” D r. Marquez explained.

“The nice thing about this is that these three hormones actually are also being secreted not just by the ovary, but also of the adrenal gland on top of the kidneys. That’s a bonus, so there’s extra supply. Unless y ou have adrenal fatigue because of too much stress, that doubles the symptoms,” she added.

In this crucial stage, most of the women experience various symptoms. One of the most prevalent is s kin issues. Some are dryness and itching, wrinkles, acne, hot flashes, and melasma.

Because of the changing hormonal levels, menopause also has an i mpact on women’s mental health. The changes on their skin and appearance are somewhat distressing, t hus leading to their loss of selfesteem and confidence.

Support system

AT the age of 55, Viquiera has found a new purpose in life after she hit the menopausal stage last January.  Confronted by the silent yet growing stigma on perimenopause and menopause, plus the lack of support system from the society, she took it as a challenge to help address the problem that her fellow

women encounter.

This led her to create a community of women in midlife to have a s afe space to talk about their experiences while eradicating the taboos a nd stigma about these stages of aging. This is part of the #OwnYourAge movement, which is a call t o women to embrace and be proud of their age as it is a natural part of who they are.

“Once I went through the journey, I knew I had to do something b ecause for me it felt very isolating. e v en if I had my closest friends and relatives whom I could talk about, there’s still a symptom that’s very unique. So that’s the part that made me feel isolated,” she recalled.

“I want to have a safe space for women where they can talk about menopause, what they go through on the problems, and go with it without any judgement. That there will b e people who will support you, and you’ll be able to talk about your own journey. It’s my advocacy to build a group of women who will support other women. That’s how Pro Age Solutions was born,” she cited.

Throwing her support to the community, health and fitness advocate C ory Quirino pledged to spread the gospel of wellness and share the w isdom and the liberating truth of pro-age. She said: “We are one, we are together, and we will move forward together. And we win and inspire other women to become like us: empowered, inspired and ageless in our challenges in life and in our

Novartis associates check their cholesterol

raise awareness on heart health

In observance of Cholesterol Education

Month this September, n ovartis associates across Asia-Pacific, Middle East and Africa (APMA) Region are getting their cholesterol tested and engaging key stakeholders to promote awareness on heart health as part of the September Unblocked APMA Challenge.

More than 18 million people die of cardiovascular diseases (CVDs) every year.

CVD is the leading cause of death globally. In fact, CVDs claim more lives than all cancers combined, and a staggering 34 people will have died from a heart attack or stroke in the last 60 seconds alone. CVDs are responsible for a third of deaths in the Philippines.

Atherosclerotic cardiovascular disease (ASCVD) is the underlying cause of 85 percent of heart attack and stroke related deaths, claiming 15 million lives every year.

ASCVD is an umbrella term used to describe a variety of diseases that are caused by the build-up of fatty deposits or plaque in arteries. Many people do not experience any symptoms until the plaque in the arteries unexpectedly ruptures. This may lead to a heart attack or stroke.

Almost 40 percent of the adult population is at risk of ASCVD and are too often undiagnosed until a cardiovascular event, such as a heart attack or stroke, occurs.

Perpetual Help Medical Center unveils new state-of-the-art machine for cardiac procedures

attitude towards life itself.”

Age defying solutions

PRO Age Solutions has not only led to a support community, but also a pioneering advocacy brand for perimenopausal and menopausal relief a nd overall wellness. The event witnessed the launch of its first product line that could remedy the skin—the major organ of the body that that has the visible results of these inescapable periods of aging.

“Perimenopause and menopause, basically, is the time when c hanges happen in a woman’s life. It doesn’t happen at a certain age, which is usually in the 30s. But we’re seeing it more in younger women because of the environmental toxins that we are encountering i n all over,” underscored Dr. Joel Lopez,  regenerative medicine expert and chief medical ambassador or P ro Age Solutions.

“I’m glad that we have these solutions that work synergistically w ith the products that we actually do recommend in our practice. And they include, of course, the basics, which is nutrition,” he added.

The skincare products of Pro Age Solutions are formulated in Korea but are made and tested specifically for Filipinas who are experiencing skin issues due to menopause.

“We did not develop it according to the skin of Korean woman living in Korea but based on the results of the research on the weather in the Philippines and the daily routine of Filipino women,” emphasized Veil Cosmetics Research and Development Manager Jacob Park.

P ro Age Solutions skincare line includes witty-titled products, such as No Dirty Secrets, a hydrating facial cica cleanser; The h o ly Grail, a cica toner; Quench The Thirst, a cica ampoule serum; e y e See Yah, a cica eye cream; Correct Me If I’m Wrong, a spot corrector; Plump Me Up, a cica moisturizing cream; Cool & Chic, a cooling mist; and Be Gentle With Me, a bakuchiol exosome serum.  Best applied day and night come, it comes in a starter kit of nine products at only P9,800. It’s now available on Pro Age Solutions’ official website. For more information, t une in to their social media at @ proagesolutions on both Facebook and Instagram.

The Perpetual h e lp Medical Center-Las Piñas (P h M C-LP) recently unveiled a new stateof-the-art machine to be used for a host of cardiac procedures in pursuit of its goal to deliver quality and excellent patient care.

The new ARTIS Icono machine manufactured by Siemens will be the first in the country. In a single interventional suite, the new machine will allow medical practitioners to perform cardiac angiogram, angioplasty, coiling of the brain and radiologic intervention procedures among others. The new machine can deliver fast, clear and consistent 3D imaging of vital organs of stroke patients. Bleeding can be visualized in a short span of time which is vital in the treatment of stroke cases. This can lead to better patient outcomes in cerebral aneurysms and arteriovenous malformation cases.

The new machine was unveiled in a simple ceremony last Sept. 12, 2023. The ceremony, led by P h M C-LP Chairman and C e O D r./BGen. Antonio L. Tamayo and P h M C President Richard M. Tamayo, started with a Thanksgiving Mass at the hospital chapel. This was followed with the blessing of P h M C-LP’s new catheterization laboratory which will house the new ARTIS Icono machine. The Thanksgiving Mass and Blessing was also held to commemorate the birth anniversary of the late Dr. Jose De Guzman Tamayo, Grand Patriarch of the Perpetual h e lp System and father of Dr./BGen. Antonio Tamayo.

“With our newest and state-of-theart system, we hope to level up our services to our patients. This is part of our mission here in the P h M C-LP. To provide our patients the very best in medical care through a combination of advanced medical technology and

our brand of quality and personalized care by our highly qualified medical personnel,” Dr./BGen. Tamayo said.

Host of procedures

The new catheterization laboratory is capable of a host of procedures including transradial coronary angiogram, transfemoral coronary angiogram, cerebral angiogram, coiling of aneurysm, permanent pacemaker implantation, angioplasty, peripheral angiogram, peripheral stenting, implantable cardioverter defibrillator (ICD), transarterial chemoembolizaton (TAC e ), and percutaneous transhepatic biliary drainage (PTBD).

The ARTIS Icono is currently undergoing calibration and testing before it is commissioned to serve the hospital’s clientele.

The Perpetual h e lp Medical Center-Las Pinas is one of the bestequipped medical centers in southern Metro Manila with a capacity of 215 beds. It was established by Dr./Brig. Gen. Antonio L. Tamayo, his wife Daisy M. Tamayo and their associate e r nesto P. Crisostomo in 1976 with the aim of providing exemplary medical care to residents of southern Metro Manila. The P h M C-LP combines highly-trained physicians, competent nurses and other allied medical personnel, and the most advanced medical tools and equipment to deliver quality diagnoses, treatment and patient care.   Ph MC-LP is capable of providing a full range of treatments for a wide variety of life-threatening diseases like cancer, kidney diseases, neurological diseases, and others. The hospital’s h e art and Vascular Institute, Institute of Radiology and Allied Services, and Women’s he althcare and Diagnostic Center are manned by the doctors who are experts in their specialties.

La Union, PHAPCares Foundation sign MOA to push Universal Healthcare in the province

THE P rovincial Government of La Union, together with two of its municipalities and the PHAPCares Foundation, the corporate social responsibility arm of the Pharmaceutical and Healthcare Association of the Philippines (PHAP), has inked an agreement to facilitate and fast track the implementation of Universal Healthcare in the province.

Under the MOA, the La Union Provincial Government and the municipalities of Bauang and San Juan will ensure the sustainability of health services by supporting the program. They also committed to provide support staff and logistics during the conduct of health advocacies as well as the training on ELSAROC.

What most people do not know is that 80 percent of premature heart attacks and strokes are actually preventable. In APMA, every minute, more than five people die from CVD. Each of them is a parent, child, sibling, friend or colleague. The emotional impact of each life claimed is significant.

The Unblocked Movement is an initiative co-created with partners and supported by n o vartis to bring patients, their loved ones, healthcare professionals and healthcare systems together in a shared mission to “unblock” barriers to heart health. The company’s goal is to drive a movement through building sustainable partnerships across the healthcare ecosystem to raise awareness, and spur action and behavioral change toward achieving better heart health.

“At n o vartis, we are working towards a generational decline in death due to CVD in the decades to come. We envision a world where ASCVD is eliminated so patients can live longer and healthier lives, and families are not prematurely robbed of their loved ones. To turn our vision into a reality, we are making a lasting commitment to pioneering groundbreaking treatments, forging productive partnerships with healthcare systems, and finding innovative approaches to tackle major ASCVD risk factors for the larger popula -

tion,” said Joel Chong, Country President, n ovartis Healthcare Philippines.

By working with patients, healthcare professionals (HCPs), healthcare systems, and policymakers, the movement aims to “unblock” the barriers that impede CVD patients from improving their health outcomes, starting with ASCVD. The Unblocked Movement is driven by a collective voice, cocreated and activated in individual countries with external stakeholders in the healthcare ecosystem to transform heart health across the local population.

“In support of Cholesterol Education Month and through the Unblocked Movement, let’s empower HCPs, business partners, patient groups, and health care systems, to drive action and conversations around heart health. We will spread the word on the importance of getting our cholesterol checked, make conscious choices, and prioritize health for ourselves and our families,” said Dr. Sheila Lim, Ad Interim Chief Medical Officer, n o vartis Healthcare Philippines.

The Unblocked Movement has three pillars.

#LifeUnblocked: Unblocking a patient’s life potential with a healthier heart T O O often, patients normalize cholesterol

and delay seeking medical help or postpone committing to dietary changes, exercise, and treatment. The Unblocked Movement aims to create awareness and mobilize patients to prioritize their heart health through collaboration with patient organizations advocating for heart patients or loved ones living with CVD. The Movement will work to overcome barriers of indifference, lack of urgency or information to transform heart health in communities throughout Asia Pacific, Middle East and Africa.

#CareUnblocked: Unblocking timely medical care and treatment for heart health

nOVARTIS i s supporting cardiologists and other physicians in their efforts to treat CVD patients more effectively. Through the Unblocked Movement, the company aims to identify and address non-clinical barriers, supporting HCPs to increase their capacity to adopt clinical guidelines and ultimately, improve the quality of care to their CVD patients.

#NationUnblocked: Unblocking barriers to reduce the burden of CVD on the health of a nation

T HE U nblocked Movement aims to unblock heart health for a healthier society. By partnering with healthcare systems to make ASCVD a healthcare priority, n o vartis can help reduce CVD-related deaths, and deliver better health outcomes for patients through effective ASCVD management and treatment.

The Memorandum of Agreement (MOA) was signed by La Union Governor Raphaelle Veronica Ortega-David, Bauang Mayor Eulogio Clarence Martin De Guzman III, San Juan Mayor Arturo Valdriz, PHAPCares President Lotis Ramin, and PHAPCares Executive Director Dr. Maria Rosarita Siasoco.

Ortega-David underscored that health is a priority in her administration. She also welcomed the partnership with the PHAPCares Foundation as one of the ways to improve the health and well-being of the people in the province.

“We commend the Provincial Government of La Union for prioritizing the health of its constituents, aligned with its vision of bringing sustainable and inclusive development that improves the quality of life of its people. PHAPCares is constantly committed in further improving healthcare access together with like-minded collaborators both in the public and private sector,” said Ramin, who is also Country President of AstraZeneca Philippines.

History of partnerships

T HE P HAPCares Foundation has a long history of partnerships and programs seeking to establish healthy and resilient communities within the UHC framework. From 2015, the Foundation has reached 5,000 families, and served 25,000 individuals in its medical outreach activities in several communities, including La Union. It has trained around 639 responders under the Earthquake and Landslide Search and Rescue Orientation Course (ELSAROC) with the Metropolitan Manila Development Authority (MMDA).

Since 2003, the PHAPCares has also donated medicines worth over P1 billion for use in institutions and communities affected by health emergencies and disasters.

The LGUs will also provide support during the conduct of the medical outreach in the sites, and in the oral health initiatives for kindergarten pupils in schools in the participating barangays.

Health advocacies

F OR t heir part, PHAPCares will provide the expertise to support the health advocacy on HIV, WASH (Water, Sanitation and Hygiene), and oral health and other disease in the LGU sites. PHAPCares will also help train community health volunteers and provide the necessary materials to support the barangay health workers.

Additionally, PHAPCares will undertake the monitoring and the evaluation of the performance of the LGUs in the implementation of its sustainable healthcare and social development projects under the program. The organization will also assist in the capacity building in LGU sites as well as provide assistance to participating barangay health stations.

“ n o w is the time to fully roll out the Universal Health Care Act, so that no one will be left behind when it comes to health. We are here to augment the resources of the LGUs as they make the leap to improving the health outcomes of residents living in the province,” said Dr. Maria Rosarita Siasoco, PHAPCares Executive Director.

Earlier, the La Union Provincial Health Office and PHAPCares provided crucial health services to select communities within the province amid extreme weather disturbances brought about by the southwest monsoon in August. Residents from two barangays that are considered Geographically Isolated Disadvantaged Areas (GIDA) in Bauang Municipality, received doctor consultations, laboratory tests, and minor surgeries right within their communities.

levels,

PRO AGE Solutions’ community of women, led by Chief Advocate and Founder Claudine Viquiera (fifth from left), provides a support system for Filipinas experiencing the life-changing perimenopause and menopause stages.

INSTITUTE OF CORPORATE DIRECTORS

GOLDEN ARROW RECOGNITION CEREMONY SETS ICD ON COURSE FOR ADVANCING CORPORATE GOVERNANCE IN THE PHILIPPINES

together with the Securities and Exchange Commission (SEC) to monitor publicly-listed companies to encourage the companies’ strict adherence to the highest ethical standards at all levels of the business while ensuring transparency and accountability through timely disclosure of information such as annual reports and minutes of shareholders’ meetings, among others,” the ICD CEO said.

CARLOS JOSE “CHARLIE”

P. GATMAITAN Chief Executive Officer of ICD

W hile the Golden Arrow awards is initially given to Philippine publicly-listed companies, ICD expanded it eventually to include one golden arrow for private limited companies and also for insurance companies.

“ Without even looking at our own records, chances are the top 50 of the 284 publicly-listed companies in the PSE are Golden Arrow awardees because they adhere to corporate governance standards. They ensure that they are not offensive in environmental, health, safety, and labor relations

standards and all that, so they have all these policies in place and enshrined within their corporate structure,” explains Dr. Gatmaitan.

More than the honor that the Golden Arrow brings to recipient companies, Dr. Gatmaitan said that there is a direct correlation between the companies’ adherence to excellent corporate governance standards to their success not only in terms of profitability, increased market value, but also access to more resources in terms of being an attractive proposition to investors, both local and foreign.

That is why we want good corporate governance to cascade from PSE-listed companies down to MSMEs or even church and religious organizations because it will benefit the society and the Filipino people eventually,” he enthused.

Today’s ACGS and CGS Golden Arrow Recognition Ceremony is the second this year, and Dr. Carlos Jose ‘Charlie’ P. Continued on D2

With a clear-cut mission of advocating good governance and stewardship in the corporate sector to eventually benefit the society as a whole, ICD counts among its members top-level managers, directors, and key decision-makers of Philippine corporations, GOCCs, and non-government organizations.

In its sustained drive towards raising the bar of corporate governance in the Philippines, the ICD is holding today the ACGS and CGS Golden Arrow Recognition Ceremony at the Golden Ballroom of Okada Manila Hotel to honor the top Philippine publicly-listed companies and insurance companies based on the 2022 ASEAN Corporate Governance Scorecard and Corporate Governance Scorecard assessment results.

The ACGS and CGS measures the performance of companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the corporate board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders.

The scorecard is composed of 184 questions based on publicly available disclosures on the companies’ websites. It aims to raise the corporate governance standards and practices of the country and to make well-governed Philippine publicly-listed companies and insurance companies

attractive to investors.

The Golden Arrow is a prestigious and muchcoveted award among the 284 companies currently listed in the Philippine Stock Exchange (PSE) because it shows their observable conformance with the Philippine code of corporate governance and the internationally-recommended corporate governance as espoused by the ACGS and CGS.

The Golden Arrow is awarded to companies that achieved a score of at least 80 points in the ACGS and CGS assessments.

Just like in previous Golden Arrow awarding rites, five levels of performance in corporate governance will be conferred to deserving companies. Each ascending level is depicted by an increasing number of golden arrows, as follows:

nACGS & CGS score of 80 to 89 points 1-arrow recognition

nACGS & CGS score of 90 to 99 points 2-arrow recognition

nACGS & CGS score of 100 to 109 points 3-arrow recognition

nACGS & CGS score of 110 to 119 points 4-arrow recognition

nACGS & CGS score of 120 to 130 points 5-arrow recognition

Working Together with PSE ICD had the first Golden Arrow awarding rites in 2018 based on the 2016 ACGS and CGS assessment results and the prestige and honor of the annual ceremony have since reverberated among Philippine publicly-listed companies on their respective corporate governance framework. “ICD assessors work

LESS than a year before it turns 25, the Institute of Corporate Directors (ICD) is very much on pace with its 2024 vision of being widely recognized as the key catalyst in effecting positive change in the Philippine corporate governance ecosystem towards inclusive and sustainable development.

ICD Sustains Drive to Build

DRIVEN by a resolute vision to be at the forefront in the ASEAN region by being the catalyst in the Philippine corporate governance ecosystem towards an inclusive and sustainable development, the Institute of Corporate Directors (ICD) is leaving no stones unturned in its commitment to build better corporate boards.

A s a non-stock, non-profit national association of corporate directors and other stakeholders engaged in corporate governance, the ICD has been championing good corporate governance and stewardship that shall redound to the overall benefit of society and the Filipino people since its establishment in 1999 by founding chairman Dr. Jesus P. Estanislao.

Dr. Estanislao, who served as National Economic Development Authority (NEDA) Director-General and Secretary of Finance during the time of then President Corazon Aquino, put up ICD in the aftermath of the Asian financial crisis.

He has always been committed to governance reforms as evidenced by his move to put up ICD for corporate governance as well as simultaneously heading the Institute for Solidarity in Asia, which focuses on national governance.

A year before establishing ICD, Dr. Estanislao was the founding Dean of the Asian Development Bank Institute in Tokyo, Japan.

A fter his tenure in the cabinet of President Cory ended in 1992, he

served as the founding President of the University of Asia and the Pacific, which was previously known as the Center for Research and Communications.

The ICD Chairman Emeritus has had many published works and he has at least four for the institute including the “Practical Guidelines for Board Governance Committees,” “Practical Guidelines for Audit Committees,” “Practical Guidelines for Risk Oversight Committees,” and “Practical Guidelines for Financial Numeracy for Corporate Directors.” With a well-defined vision and mission in place, ICD immediately buckled down to work with its no-nonsense dedication to the professionalization of corporate directorship as it continuously strives to raise the level of corporate governance policy and practice in the Philippines to world-class standards.

ICD’s commitment to the attainment of its goals and objectives is anchored on its core values of social responsibility, excellence, ethics, patriotism, independence, and solidarity.

Today, amid the transition of leadership over the years from Dr. Estanislao to Atty. Cesar L. Villanueva, as the current Chairman, ICD remains steadfast in the very same commitment that it has set forth nearly 25 years ago.

It continues to raise the corporate governance commitment of the board in driving strategy, improving performance, and contributing to inclusive and

sustainable development. It has been ICD’s mantra, then and now, in its advocacy to build better corporate boards.

Essence of Good Corporate Governance

ICD inculcates among its members the importance of good and effective corporate governance. It proselytizes in public that good corporate governance is an essential ingredient to contribute to the betterment of society and the Filipino people.

A s one of the organizations that comprise the Centers for Excellence in Governance (CEG), ICD believes that good corporate governance is about doing what's right, and doing it well.

Since 2018, the organization

has had numerous awardees or honorees of the prestigious Golden Arrow recognition as perfect examples of how good corporate governance should be.

Good corporate governance is critical to a country's global competitiveness and has been shown to have a direct correlation with corporate profitability and growth. Government and regulators require it. Companies of all sizes need it.

Good corporate governance protects and balances all stakeholder interests, strengthens business relationships, increases access to external financing, and leads to better operational performance.

Adoption of good corporate

ACCELERATE ENERGY TRANSITION ASIA PACIFIC ENERGY INDUSTRY LEADERS ADVOCATE FOR NUCLEAR ENERGY ADOPTION, SMART GRID, AND ELECTRIC MOBILITY

governance practices results to sustained returns and increased shareholder value; factors that help attract investment for companies.

The Men and Women of ICD

ICD is governed by a 12-person Board of Trustees, each of whom serves a three-year term and each has the opportunity to be re-elected and serve for up to two terms more.

While the election of the members of the Board of Trustees is every year, only four director positions are being opened for election every year to ensure continuity and hassle-free transition.

The Board is currently headed by Atty. Villanueva as Chairman and ably backstopped by Ma. Aurora ‘Boots’ D. Geotina-Garcia,

who is the Vice-Chairperson and President of ICD.

The other director-members of the Board of Trustees of ICD include Ida Ceniza-Tiongson, Director and Treasurer, Atty. Bendicta DuBalabad, Atty. Pedro H. Maniego, Ma. Victoria C. Españo, Jonathan Juan DC Moreno, Tomasa H. Lipana, Senen L. Matoto, Donald Patrick L. Lim, Henry Rhoel R. Aguda, Geocel D. Olanday, and Atty. Teodoro Kalaw IV.

The ICD team that implements the programs, activities, and initiatives of the non-profit organization is led by Dr. Carlos Jose P. Gatmaitan as Chief Executive Officer, heading a total of seven key departments.

The seven departments include Finance, HR and Admin, Programs, Partnerships, and Marketing, Corporate Governance Advocacy, Members Relations, Board Advisory and Consulting Services, and Faculty, Research, and Development. These departments are all staffed with competent professionals, whose average age, according to the ICD CEO is around 30.

According to Dr. Gatmaitan, ICD currently has 501 members and these members are divided into Regular Members, Associate Members, Graduate Members, Experiencebased Members, Fellow, Honorary, and Life Fellows. From previously accepting individual members only, the organization is now also accepting corporate membership, and each company member can bring to the ICD fold between three to five individual members.

Golden Arrow Recognition...

Continued from D1

Gatmaitan, Chief Executive Officer of ICD, explained that the pandemic has set back the timeline of their annual awarding rites.

The ACGS and CGS Golden Arrow Recognition Ceremony held last January 20, 2023 at the Sheraton Manila was for the 2021 ACGS and CGS assessment results. The one that we will be holding today is for the 2022 ACGS and CGS assessment results which means that we have caught up with our schedule already,” he explained.

all corporate organizations, big or small. The organization has members from companies that are not yet listed in the PSE, governmentowned and controlled corporation or GOCCs, and soon, coming from nongovernment organizations (NGOs) after recently forging an agreement with the Philippine Council for NGO Certification (PCNC).

THE Association of Electricity Supply Industry of East Asia and the Western Pacific (AESIEAP) has identified priority initiatives that will be beneficial as the region accelerates towards a sustainable energy future.

In a recently concluded summit held in Tagaytay City, members of the AESIEAP Technical Committee from the Philippines, China, Hong Kong, Thailand, Malaysia, and Singapore discussed in detail sustainable power generation particularly nuclear power, smart grid and asset management, electric mobility, and standardization of energy industry practices.

A mong those who participated are key executives from the Philippines’ largest electric distribution utility Manila Electric Company (Meralco), Depart-

ment of Energy, National Grid Corporation of the Philippines, National Transmission Corporation, China Electricity Council, China Yangtze Power Limited Corporation, and Tenaga Nasional Berhad.

A ESIEAP Technical Committee Chairman Ronnie L. Aperocho highlighted the urgency to shift to sustainable energy sources to meet the continuing increase in power demand and address the threat of climate change.

“ The Asia-Pacific region has long been at the forefront of global energy production and consumption. As our economies and populations continue to grow, the demand for energy continues to expand. This places us at a pivotal juncture where we must balance the imperative of meeting energy needs with the

equally pressing need to transition towards cleaner and more sustainable energy sources,” Aperocho said.

Aperocho, who also sits as Meralco’s Executive Vice President and Chief Operating Officer, also tackled the programs being implemented by the distribution utility to progress its own sustainability agenda, including studying the potential of nuclear energy technologies like small and micro modular reactors.

The company is also one of the leading advocates of the adoption of electric vehicles (EVs) in the country. In fact, around 30 EVs were deployed as service vehicles for the delegates throughout the summit. Through its Green Mobility program, Meralco aims to electrify at least a quarter of its entire fleet by 2030. Meralco currently has 156

EVs in its fleet, which is equivalent to a 7% vehicle electrification rate.

In closing, Aperocho emphasized the importance of continuing exchange in experience and sharing of best practices among energy industry players, saying: “The AESIEAP Technical Committee continues to serve as an invaluable platform to collectively explore innovative solutions, foster technological advancements, and promote energy best practices in our region. Our mission is clear—to ensure reliable, affordable, and sustainable energy.”

Members of AESIEAP, the largest organization of energy industry players in the region, are set to gather in Xiamen, China anew in October for this year’s Conference on Electricity Power Supply Industry.

He adds that they are looking to have next year’s Golden Arrow Recognition Ceremony based on the 2023 ACGS and CGS assessment results held in June 2024 to serve as a key highlight as ICD celebrates its 25th year.

Increasing ICD Membership

At present, ICD has a total of 501 members. Membership has grown three-fold when the organization recently started accepting corporate memberships from previously accommodating individual members only. Corporate membership entitles a company to have between three to five individual members in ICD.

Looking into the membership make-up, ICD noted that most of its members are actually based in Metro Manila or working for companies operating mostly in NCR.

The ICD CEO says that since part of their objective is inclusivity, they are working on getting more members coming from other parts of the country.

ICD is also not limiting itself to members coming from publiclylisted companies because corporate governance cuts across practically

“It just so happens that the best examples of corporate governance at this time are those from publicly-listed companies so ICD shares their best practices to its members for them to help effect or improve corporate governance in their respective companies or organizations,” Dr. Gatmaitan said.

“Through our programs, activities, and initiatives, ICD is trying to get more members to join us because of the underlying importance of public disclosure in the overall corporate governance picture. Corporate governance is not just about the timely submission of reports, having diversity and equity in the board, it also focuses on other key issues including digital transformation which is now the rule rather than the exception in today’s corporate governance,” he explained.

Being a member of ICD means access to knowledge on what the standards of corporate governance that the world uses or adheres to at the moment to make sure that Philippine companies are up to par with it or at least catching up. Honestly, we are not yet as fast as we wish in being at par with global standards although there is a chance that we really can get there,” expresses Dr. Gatmaitan.

“

We expect ICD members to increase by a thousand when the organization marks its 25th year next year,” he confidently stated.

INSTITUTE OF CORPORATE DIRECTORS

Raising GovernanceCorporateCommitment

So how does ICD raise its corporate governance commitment?

As an institution, ICD relies primarily on knowledge enhancement and capacity building to breathe life to its advocacies divided into four synergistic functions – Publish, Educate, Empower, and Engage.

Publish

ICD is recognized as a national and international resource for corporate governance content. The institute promotes its advocacies through the publication of director surveys, reports, course modules and primers.

It is also a member of the Global Network of Director Institutes (GNDI).

ICD has likewise established relations with global organizations involved in corporate governance including the Organization for Economic Cooperation and Development (OECD), the Asian Development Bank (ADB), the International Finance Corporation (IFC) and the ASEAN Capital Markets Forum (ACMF).

Educate

ICD offers corporate governance learning solutions for board members and senior executives. Through customized indepth learning sessions composed of lectures, case studies, and structured learning experiences, ICD helps professionalize the practice of corporate directorship.

Learning sessions are facilitated by a distinguished faculty composed of ICD Fellows, professional directors who are recognized for their expertise and experience. ICD is the only institution in the Philippines accredited as a corporate governance training body by the Securities and Exchange Commission (SEC), the Insurance Commission (IC), Bangko Sentral ng Pilipinas (BSP), the Governance Commission for GovernmentOwned or-Controlled Corporations (GCG) and the Career Executive Service Board (CESB).

Its most essential course is the Corporate Governance Orientation Program. The course covers the basic principles, as well as the importance and benefits of modern corporate governance.

Global, regional, and local reforms and initiatives in the field of corporate governance is also presented and discussed in detail

during the course along with regulatory updates, best practices, emerging risks and trends, and the continuing relevance of adopting good corporate governance principles and methodologies

ICD’s flagship course is the Professional Directors Program, which is a five-day extensive program that trains participants on the key roles of directors and boards who are responsible for the governance of a corporation or a company.

The program provides participants with tools to create value for their respective corporation and be a catalyst for transformative change.

ICD’s highly-experienced and internationally-trained teaching Fellows facilitate discussions and share their real-life boardroom experiences with participants under this program.

Dr. Gatmaitan disclosed that ICD is now in talks with several higher learning institutions where some of the programs of the institute can eventually be credited as units earned for those who are pursuing masteral or doctoral studies related to corporate governance in those colleges or universities.

Empower

ICD helps boards optimize performance to deliver maximum value for a company’s stakeholders.

From health checks, to board evaluations, to crafting board protocols, drafting charters and defining strategy maps and scorecards, ICD imparts and empowers boards by equipping them with knowledge and tools to govern their organizations.

These consulting engagements and interventions are facilitated by ICD's Teaching Fellows who bring with them years of directorship and senior management experience and know-how, culled from practices in diverse fields and functions.

Engage

ICD is a learned society composed of more than 500 professional directors practicing ethical governance. ICD's members are committed to a shared vision of a transformed corporate governance ecosystem that bears the fruits of corporate and individual social responsibility.

Fellows, Graduate Members, Regular Members, and Associates enjoy exclusive membership privileges including:

naccess to monthly continuous

learning, networking and fellowship events

nendorsement by ICD to boards for independent director placement nthe right to affix the ICD's post nominal membership initials including FICD for Fellows; GICD for Graduate Members; MICD for Regular Members; and AICD for Associates.

ICD members also have the unique opportunity to support the good governance advocacy in public speaking, teaching corporate governance courses, facilitating board interventions, writing and contributing to ICD publications, crafting position papers, policy proposals, organizing events, fora and other endeavors undertaken by the society.

Heaps and Praises for ICD’s Corporate Governance Programs

ICD’s programs have piled up tons of heaps and praises from its fellows, graduate members, regular members, and associate members after completing for themselves some, if not all of the programs being offered by the institute over the years.

Jose L. Cuisia, an ICD honorary fellow who served as

former governor of the Bangko Sentral ng Pilipinas (BSP) as well as a former Ambassador of the Philippines to the United States, has this to say: “The quality of Philippine boards has improved because many directors have gone through more professional training and development with the help of ICD.”

“I enjoy learning about good governance in ICD. Ultimately, as a millennial, I have come to see it as an important way to contribute concretely to nation building. I’ve invited many friends who have become Fellows themselves,” says Clarissa Isabelle L. Delgado, ICD Fellow, and CEO and Founder of the Teach for the Philippines.

A n Obama Foundation fellow, Delgado was one of the recipients of prestigious The Outstanding Women in the Nation’s Service Award. She was recognized as Young Leader of the Year during the 2016 Asia CEO Awards, and also honored by the Philippine Jaycees in 2016 as one of the Ten Outstanding Young Men. These are just two of the countless testimonials that ICD’s programs and activities have generated over a period of 24 years. And there will be more of the same in the years to come.

35 Years of Transformation with Aboitiz Foundation

of their families. With these new capabilities, more and more Filipinos can shape the future for themselves and their communities.

CLIMATE ACTION

SINCE its inception, the Aboitiz Foundation has been committed to protect the environment. The Foundation has invested in sites such as the Aboitiz Cleanergy Park, which serves as a sanctuary for endangered wildlife, built entirely of recycled materials. Last year, Cleanergy Park released some 8,000 hawksbill turtle hatchlings and planted more than 19,000 mangroves. A-Park is another nationwide project towards reforestation and nature-based carbon capture solutions. The Foundation also works with various government, academic, and non-profit partners to implement systems that will develop more climate-resilient, climate-smart communities.

T

The Group’s commitment to corporate citizenship traces back to over a century ago when its founder, Don Ramon Aboitiz, began his corporate philanthropy efforts to better the welfare of his employees. Founded in 1988, Aboitiz Foundation has evolved beyond traditional charity, harnessing innovation to drive change and shape the future of underserved communities. With investments totaling more than PHP 5 billion, the Aboitiz Foundation has partnered with some 600,000 individuals and institutional partners and implemented over 5,000 corporate social responsibility (CSR) projects.

FUTURE LEADERS

OVER the years, Aboitiz Foundation has provided resources, facilities, and scholarships to Filipino students and young professionals, especially those in remote areas who have less access. The Foundation made a US$10 million donation to the Asian Institute of Management (AIM) for the Aboitiz School of Innovation, Technology & Entrepreneurship (ASITE) to help address the demand for talent in data science in the country through world-class teaching and research. The Foundation is also onboard-

ODAY marks the 35th anniversary of Aboitiz Foundation’s work in co-creating resilient, empowered, and sustainable communities. In the Aboitiz Group’s journey to become the Philippines’ first techglomerate, Aboitiz Foundation represents what lies at the heart of this Great Transformation: People. The Foundation optimizes the synergies of Aboitiz business units and its partners nationwide to create more value for its beneficiaries, its communities, and the environment.ing partners to scale Aurora PH, a project that aims to provide access to electricity, internet connectivity, and digital tools to accelerate the learning of students in last-mile schools. Focusing on STEM (science, technology, engineering, and mathematics) and entrepreneurial fields, the Foundation’s aims aim to empower the nation’s future leaders with opportunities to drive change for the generations to come.

ENTERPRISE & JOBS

IN an ever-changing economic landscape, Aboitiz Foundation adopts an agile approach in its development programs. It finds ways to leverage technology to upskill Filipinos so they can excel in the digital economy. In 2022, over 6,000 beneficiaries, including MSMEs and cooperatives, received support and training through the foundation’s programs. Byaheng Digiskarte equips MSMEs and micro-entrepreneurs with the digital tools and skills they need to successfully grow their businesses.

Similarly, the Elevate AIDA (Artificial Intelligence and Data Annotation) program provides data annotation and other technical training for homemakers and mothers that will enable them to earn a living while taking care

Aboitiz

This journey over the years has been guided by an emphasis on the “S” in ESG, in which the Aboitiz Foundation takes a people-centric approach and pairs with technology-driven solutions to drive positive change. As Aboitiz Foundation forges ahead, it carries a renewed commitment to expand flagship programs, foster global collaborations, and harness innovation to continue transforming — all in its unwavering mission to shape a brighter future for its communities, and for the nation.

Build Better Corporate Boards

AMID A HARVEST OF AWARDS, YOUR SUPPORT COUNTS MOST

THE pandemic tested the media industry, forcing newsrooms around the world to overhaul the way they do their job while following strict health protocols in order to survive a deadly infection.

The BusinessMirror, the country’s premier national business daily, was tested like everyone else, and survived, even continuing to live up to its promise to provide a broader look at today’s business.

In November 2021, the business broadsheet was recognized as the “Business News Source of the Year” for 2020 by the Economic Journalists Association of the Philippines (Ejap), the country’s premier organization of business reporters, editors and wire agencies. It was a 4-peat for BM, having gotten the same honors for the years 2017, 2018 and 2019.

And, as in the past Ejap awards, it also swept half of the individual categories, with its seasoned reporters adjudged as best in their respective coverages.

Earlier in 2021, the BusinessMirror was given the Pro Patria Award by the Rotary Club of Manila, for “its commitment of valuable resources for the protection of free expression and its resilience in disseminating fair and truthful information resulting in an informed and enlightened citizenry.”

It was just the latest recognition from the prestigious Rotary Club, which named it “Business Newspaper of the Year” for 2018-2019, and again in 2020. In all, it has received six top

Rotary journalism awards in its short 16-year existence.

The BusinessMirror has also consistently reaped top awards in the Brightleaf Journalism Awards for Agriculture and the Philippine Agricultural Journalists-San Miguel Corp. (PAJ-SMC) Binhi Awards, also for the best in agriculture journalism.

The BusinessMirror was also repeatedly adjudged the leading daily in biotechnology journalism, a recognition bestowed by the Jose G. Burgos Jr. Biotechnology Journalism Awards.

T he “broader look” mantra also drew recognition from the Philippine Statistics Authority (PSA) which named the BusinessMirror, at its first awards rites in 2018, as the inaugural “Data Champion.”

In the first “Bantog Science for the People” awards for media from the Department of Science and Technology, the BusinessMirror got the top award for the Institution category for Print; and the grand prize in the individual category for science journalist Stephanie Tumampos.

In 2018, Environment Reporter Jonathan Mayuga received the Luntiang Aligato award from the Climate Reality Project, a nonprofit organization founded by Nobel Laureate and former US Vice President Al Gore.

T he Broader Look at biodiversity was also recognized. It was named among the Asean Champions of

Biodiversity, for the Media Category, by the Asean Centre for Biodiversity.

T he Broader Look also extended to the paper’s corporate social responsibility. It organized and staged the first-ever recognition rites for the best of the Philippines’s friends in the world, with the “MISSION PHILIPPINES: The BusinessMirror Envoys & Expats Awards.” The initiative won a Gold Anvil in 2019.

Distinguished institutions in government have also repeatedly recognized the BusinessMirror’s role in spreading the word about the work they do—information that shines a light on good governance and committed public service to uplift people’s hopes. Most notably, these are the Social Security System and Pag-IBIG Fund. Sixteen years, two of them in a pandemic, have tested the promise of a Broader Look. But they are also a measure of the unstinting support of friends—advertisers and news sources alike—and readers who continue to believe in that promise.

THANK

YOU, EVERYONE. YOUR LOVE AND SUPPORT IS OUR MOST IMPORTANT TROPHY.