Issuu

Agri growth key to lower poverty rate–Diokno By Bernadette D. Nicolas @BNicolasBM

INANCE Secretary Benjamin E. Diokno said a robust agriculture growth will be a key to reducing poverty incidence in the country. Diokno expressed optimism that the agriculture sector, which he described in the past as a “laggard,” will be among the drivers of the country’s economic growth as he vowed that the government will work hard to achieve this. The government expects the economy to grow 6.5 to 7.5 percent this year and 6.5 to 8 percent starting next year until 2028. The Philippine economy grew 8.3 percent in the first quarter of

this year, with agriculture, forestry, and fishing sector posting 0.2-percent growth. Improving the agriculture industry also plays a crucial role in developing the agri-business sector that has an impact on manufacturing, he said. “If we achieve our objective of making the agricultural sector more vibrant, more organized, and more productive, [I think that will have a big] impact on poverty incidence in the Pilipinas,” Diokno said, partly in Filipino, in an interview over a public affairs program recently, noting that poverty incidence in the agriculture sector is also high. “ With agriculture, mining, and then industry and services

all growing, then we can actually lift a lot of people out of poverty,” he added. The latest official data from the Philippine Statistics Authority (PSA) showed poverty incidence increased to 23.7 percent in the first semester of 2021 from 21.1 percent in the first semester of 2018. This translates to 26.14 million Filipinos who lived below the poverty threshold—estimated at P12,082 on the average, for a family of five per month—in the first semester of 2021. President Marcos Jr., who has taken leadership of the Department of Agriculture, said in his first State of the Nation Address (SONA) that the agricultural sector will be “[o]ne of the main

drivers of our push for growth and employment.” “Before the crisis, the Philippine economy was growing between 6 to 7 percent and, in fact, we were close to our original target of reducing poverty to around 14 percent in the country by the end of President Duterte’s term, but of course the virus—the pandemic— intervened,” Diokno said. “We were not able to do that, but we are back to where we want to be. Maybe by the end—that’s the promise of [President Ferdinand ‘Bongbong’ Marcos Jr.]— by the end of his term, 2028, we will cut poverty incidence in this country to single digit—to See “Agri,” A2

BusinessMirror A broader look at today’s business

BSP CHIEF SEES LOCAL PRICES EASING IN 2023 www.businessmirror.com.ph

Wednesday, August 3, 2022 Vol. 17 No. 299

P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK

By Bianca Cuaresma

Sabah issue not a matter of sovereignty for now–govt

@BcuaresmaBM

ANGKO Sentral ng Pilipinas (BSP) Governor Felipe Medalla hinted at lowering their inflation forecast for next year, as favorable global developments may bode well for local prices in 2023. Keynoting the Financial Executives Institute of the Philippines (FINE X ) Specia l Membership Meeting on Tuesday, Medalla said they are looking at revising their current forecast of 4.3 percent downward nearer the ceiling of their 2 to 4 percent target range. Medalla said a key factor to this decision are the lower global oil prices in recent months, with trends showing that this will continue next year. He also said that both Russia and Ukraine—whose war was the cause of rising prices in key commodities—have found a way to ease global supply tensions in a bid to prove that one is the “responsible warrior” in the war. In their June monetary policy meeting, the BSP announced its latest inflation forecasts: an average of 5 percent for this year and 4.3 percent for next year. The governor also said that the latest rate hike—which is a 75 basis point off-cycle increase in interest rates—as well as future rate hikes are aimed at ensuring that the momentum of inflation is towards a downward trajectory. He a l so reiterated t he B SP ’s com m it me nt tow a rd s m a n a gi n g i n f l at i o n a n d i n f l at i o n e x p e c t at ion s . “The chances of bringing down inflation without bringing down See “BSP,” A2

By Samuel P. Medenilla @sam_medenilla

‘FALSE SOLUTIONS’ Climate-change campaigners stage a protest in front of the Japanese Embassy in Manila to call on the Japanese government and corporations to stop financing fossil fuels and the promotion of technologies that they say are false solutions to the climate crisis. ROY DOMINGO

ADB HELPS CITIES MAINSTREAM CLIMATE RESILIENCE

HE Asian Development Bank (ADB) has launched a new initiative to help cities across Asia and the Pacific to meet their climate resilience goals while improving their infrastructure and urban services. In a statement on Tuesday,

ADB said the Creating Investable Cities initiative unveiled at the World Cities Summit in Singapore will provide “hands-on advisory support and capacity-building resources” to 20 cities in Asia and the Pacific in the initial phase. “The initiative will support these partner cities in mainstreaming

climate resilience into their policies and projects, developing local resources mobilization strategies, and improving their access to private sector finance,” read the statement of ADB. The regional development bank underscored that urbanization is a powerful force in

Asia and the Pacific. In fact, by 2030, the region will have nearly 200 cities each with more than a million people. ADB noted that while cities are the engines of global growth, generating 80 percent of GDP

ALACAÑANG distanced itself from the $14.9-billion claims of the heirs of the Sultanate of Sulu from the Malaysian government regarding Sabah by saying it is not an issue of national sovereignty for now. In a press conference on Tuesday, Press Secretary Beatrix “Trixie” Cruz-Angeles described the case as a private matter between the heirs and Malaysia. “Therefore, it is not an issue of sovereignty or of territory at the moment,” Angeles said. The Palace official said she will seek policy direction from President Ferdinand “Bongbong” R. Marcos Jr. on how the government will subsequently treat the Sabah issue under his administration. “The President’s articulation of his [State of the Nation Address] statement about not giving up a square inch of territory will have to be reduced into writing and into specifics. After which, we will announce this to you if they are in any way related to the Sabah claim. At the moment, there is no articulation. So we will have to wait,” Angeles said. Marcos’s allusion in his State of the Nation Address to not give up

See “ADB,” A2 See “Sabah,” A2

PESO EXCHANGE RATES n US 55.3960 n JAPAN 0.4208 n UK 67.8933 n HK 7.0569 n CHINA 8.1856 n SINGAPORE 40.2295 n AUSTRALIA 38.9157 n EU 56.8474 n KOREA 0.0424 n SAUDI ARABIA 14.7502 Source: BSP (2 August 2022)

Wednesday, August 3, 2022

BusinessMirror

JICA pitches Manila’s PPP projects to Japanese firms

HE Japan International Cooperation Agency (JICA) said it is promoting the Philippines’s Public Private Partnership (PPP) projects to Japan-based firms while encouraging them to look into the viable market of the country. Takema Sakamoto, Chief Representative of JICA Philippines office, also said in a statement on Tuesday that Japan has donated relief goods to the victims of the earthquake which struck North Luzon last July 27. “I hereby extend my deepest sympathies to our friends affected by the earthquake. I pray for the safety of everybody,” said Sakamoto. According to Sakamoto, JICA has been actively helping other countries recover from major disasters through the Japan Disaster Relief operation (JDR). “When major disasters occur overseas, in response to requests from the governments of affected coun-

tries or international agencies, like today, JICA reacts swiftly, showing Japanese people’s good will, to support the countries’ recovery efforts,” said Sakamoto. Through the years, the chief representative added, JICA has carried out roughly 10 or more JDR support goods’ prompt delivery operations in a year. For instance, JICA donated relief goods to the v ictims of Typhoon Odette in December 2021. The agency was also present during the tragedies of the Pinatubo volcanic eruption in 1991 and Typhoon Yolanda in 2013. “In the Philippines, according to my rough check, JICA has carried

out nearly 30 JDR support goods delivery operations since the Luzon earthquake in Baguio in 1990,” said Sakamoto. Since the Philippines is a disaster-prone country just like Japan, Sakamoto stressed, “We are eager to support our natural partner when needed.” He added, “To this end, JICA collaborates closely with its Philippine counterparts in the area of disaster risk reduction and management.” The chief representative also noted that JICA has been dispatching Japanese experts in order to share Japan’s experiences and expertise, implementing capacity development cooperation, supporting resilient infrastructure improvement, among others. Apart from disaster relief efforts, Sakamoto said JICA is also engaged in a wide range of cooperation in the Philippines, which include infrastructure projects, such as but not limited to the North-South Commuter Railway (NSCR) Project, the Metro Manila Subway Project, Irrigation improvement. Moreover, Sakamoto noted that JICA is involved in a variety of challenges across the health, governance, and social services sectors in the country. Andrea E. San Juan

Agri. . . Continued from A1

9 percent,” he added. Apart from agriculture, Diokno said another key driver of economic growth are foreign direct investments that would enable the introduction of new technology. He expects more foreign investments to come in following the passage of recent economic liberalization bills, including the amendments to the Retail Trade Liberalization Act, Foreign Investments Incentives Act, and the Public Service Act. “When all the foreign direct investments we are expecting finally come in, we will achieve our target of 6.5 to 8 percent [gross domestic product growth] towards the last five years of the Marcos administration,” Diokno said.

ADB. . . Continued from A1

worldwide, they also produce nearly 70 percent of the world’s greenhouse gas emissions and 50 percent of the waste. With six of the top 10 vulnerable countries of the world located in Asia and the Pacific amid rapid urbanization, its urban poor are particularly vulnerable to the harsh effects of climate change. “Cities are the front lines in the fight against climate change, especially as the world looks to recover and rebuild from the pandemic,” said ADB Vice President for Private Sector Operations and Public-Private Partnerships Ashok Lavasa. Lavasa added that the Creating Investable Cities initiative provides practical and end-to-end advisory service to policymakers, enabling them to tap directly into ADB’s expertise and finance. Meanwhile, ADB noted that collaborations with Makassar, Indonesia; Penang, Malaysia; Tbilisi, Georgia; and Ulaanbaatar, Mongolia are underway. Further, the regional development bank noted that each of these cities is seeking advanced solutions to help them to decarbonize their electricity grid, green their built environment, improve urban mobility including through electric vehicles, transition to a circular economy, conserve water, and enhance their urban service delivery and asset management through smart and integrated planning and investment. For his part, Bruno Carrasco, the Director General of ADB’s Sustainable Development and Climate Change Department, stressed that the cities need to intensify their efforts if they intend to attain climate resilience. “Cities cannot continue on a business-as-usual approach if they want to meet their climate targets,” said Carrasco. “The CIC initiative will help cities to mainstream climate into their urban policymaking by leveraging ADB’s climate, urban, and governance expertise and by mobilizing partnerships for knowledge transfer and capacity building,” added Carrasco. Prior to the onslaught of the Covid-19 pandemic, ADB estimated that Asia-Pacific needs to raise almost $1.7 trillion per year to close its infrastructure gap, $200 billion of which should come from the private sector. “Covid-19 highlights the urgency of preparing cities to leverage the private sector’s innovation, efficiency, and finance to close the huge infrastructure gap that prevents cities from reaching their economic potential,” said Head of ADB’s Office of Public-Private Partnership F. Cleo Kawawaki. According to Kawawaki, improving cities’ local resource mobilization and financial quality are crucial in attracting private sector and climate finance for their greener, resilient futures to enhance the quality of life in the cities. “ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region,” read the ADB statement. Andrea E. San Juan

www.businessmirror.com.ph

BSP. . . Continued from A1

growth is next to zero…We are very firm on our pillars, the first of which is price stability,” Medalla said. Just last week, the BSP said inflation could have settled within the range of 5.6 to 6.4 percent as growth in prices was driven by the continued increase in food prices, further transport fare hikes, and the peso depreciation. In June, inflation hit 6.1 percent. Medalla earlier said they will continue to vigilantly watch price pressures in the country to aid in their decision towards monetary policy. “The BSP will continue to closely monitor emerging price developments to enable timely intervention to arrest emergence of further second-round effects, consistent with BSP’s mandate of price and financial stability,” Medalla said. Medalla also earlier assured markets of another rate hike in their scheduled meeting in August. The BSP chief said the hike will be to the tune of 25 basis points or 50 basis points, depending on the latest data on the economy during that time.

Sabah. . . Continued from A1

even a “square inch” of territory had been widely viewed as in the context of the Philippines’s continuing determination to resist Chinese incursions in the West Philippine Sea. During the Duterte administration, the government said it will continue to pursue the country’s historic claim over Sabah. Angeles remarked on Sabah after a French arbitration court ordered Malaysia last month to pay compensation to the heirs of Sulu. The issue stems from the agreement made by the Sultan of Sulu with a British trading company in 1878 for the exploitation of resources in Sabah in Borneo, which is currently under Malaysian control. Malaysia took over the regular payment to the heirs of Sabah after its independence from British rule. But in 2013, it decided to stop the payments altogether. The Malaysian government offered to resume the payments in 2019, but it was rejected by the heirs, who wanted to renegotiate the deal after fuel and oil resources were discovered in Sabah. The heirs initially sought arbitration in Spain, but it was later transferred to French courts instead.

STATEMENT OF MR. SAM RAMOS-JONES ON THE WAKE AND FUNERALARRANGEMENT FOR FORMER PRESIDENT FIDEL V. RAMOS

UR family is truly grateful for the overwhelming outpouring of support and well wishes. As we grieve, let us also celebrate a rich life – dedicated in service to this nation and its people. The wake for Former President Fidel Valdez Ramos will officially commence this Thursday, August 4 at Heritage Park, Taguig. Guests are encouraged to wear white. To help us manage the flow of guests and better adhere to Covid-19 precautions, we designated certain dates and times for groups and sectors. We thank everyone for their cooperation. We also thank the Office of the President, the Armed Forces of the Philippines and our many friends and supporters for their assistance with these arrangements.

Thursday, August 4

7:00 am – 2:30 pm Government Officials 3:00 – 4:30 pm Members of the Ramos Cabinet and RPDEV 5:00pm – Service/Mass 6:30 pm – 8pm Prepared Tributes 10:00 pm onwards – end of visiting hours

Friday, August 5

7:00 am – 2:30 pm Government Officials, Members of the Diplomatic Corps, Members of the Business Community, and Members of Civil Society Organizations 3:00 – 4:30 pm Former Malacañang Press Corps, DND Press Corps, and FOCAP 5:00pm – Service/Mass 6:30 pm – 8pm Prepared Tributes 10:00 pm onwards – end of visiting hours

Saturday, August 6

7:00 am – 2:30 pm Veterans, Military, Law Enforcement, and the West Point Society 3:00 – 4:30 pm Rotary Club of Manila 5:00pm – Service/Mass 6:30 pm – 8pm Prepared Tributes 10:00 pm onwards – end of visiting hours

Sunday, August 7

7:00 am – 2:30 pm Public Viewing 3:00 – 4:30 pm “Ex-Men,” Campaigners, Former OP Executives, OPSOG, LAKAS Founders, and Close-in Staff 5:00pm – Service/Mass 6:30 pm – 8pm Prepared Tributes 10:00 pm onwards – end of visiting hours

Monday, August 8

7:00 am – 4:00 pm Public Viewing 5:00pm – Service/Mass 6:30 pm – 8pm Prepared Tributes 10:00 pm onwards – end of visiting hours

Tuesday, August 9

10:00 am – Inurnment at Libingan ng mga Bayani Finally, we humbly ask that anyone who wishes to send flowers instead make a contribution to one of the charitable institutions close to FVR’s heart: n Veterans Memorial Medical Center n Philippine Red Cross n Hero Foundation, Inc. n ABS-CBN Lingod Kapamilya Foundation, Inc. n Center for Health Improvement and Life Development (CHILD) Haus n JG Patnubay Foundation n Ramos Peace and Development Foundation, Inc. (RPDEV)

The Nation BusinessMirror

www.businessmirror.com.ph

Health dept logs 1st two cases of Omicron variant ‘Centaurus’ By Claudeth Mocon-Ciriaco @claudethmc3

HE Department of Health (DOH) on Tuesday reported the detection of first two cases of BA.2.75 in the country. DOH Officer in Charge Undersecretary Maria Rosario Vergeire said that both cases have been tagged as recovered. “Two individuals from Region 6 tested positive for the BA.2.75 variant. One individual is partially vaccinated while the other individual is unvaccinated,” Vergeire said in a media forum. At the moment, the exposure of these individuals, travel histories, and health status are being still verified. The World Health Organization has classified BA.2.75 as an Omicron subvariant “under monitoring.” Vergeire said that BA.2.75, also called as “Centaurus,” is believed to be more transmissible but its severity is still being studied.

BA.5 cases

BASED on the latest sequencing run from July 30 to August 1, there were 1,015 additional BA.5 Cases detected, and 883 have been tagged as recovered. All regions detected the variant except Region 9 and 10, even as three returning overseas Filipinos (ROFs) have tested positive for the BA.5 variant. Of these cases, 527 individuals are fully vaccinated, 12 are partially vaccinated, 16 cases have not been vaccinated, while the vaccination status of the remaining 460 individuals are still being verified. “At the moment, the exposure of individuals, travel histories, health status, and vaccination status are being verified,” Vergeire said.

The DOH official said that 84 are still undergoing isolation, while the outcome of 48 others are being verified.

BA.4

VERGEIRE said that 26 additional BA.4 cases have been detected, and 21 have been tagged as recovered. Six individuals from the National Capital Region, four from Region 2, three from Region 6, two each from Region 3, Region 5, Region 11, Region 12, Region 4A, and CAR, and one from Region 1 tested positive for the BA.4 variant. Seventeen individuals are fully vaccinated, 2 cases have not been vaccinated while the vaccination status of the remaining 7 individuals are still being verified. The exposure of individuals, travel histories, and health status are being verified. “Two cases are case is still undergoing isolation, while the outcome of the three others are being verified,” Vergeire said.

BA.2.12.1

THERE were 18 additional BA.2.12.1 Cases detected, and 13 have been tagged as recovered. Five individuals from NCR, three each from Region 1 and CAR, 2 each from Region 6, Region 7, and Calabarzon, and 1 from Region 2 tested positive for the BA.2.12.1. Eleven individuals are fully vaccinated; two cases have not been vaccinated while the vaccination status of five others is still being verified. Meanwhile, the exposure of individuals, travel histories, and health status are being verified. Four cases are still undergoing isolation, while the outcome of the remaining case is still being verified.

Editor: Vittorio V. Vitug • Wednesday, August 3, 2022 A3

‘As a matter of comity’: DOJ to provide ICC info on Duterte drug war inquiry By Joel R. San Juan @jrsanjuan1573

USTICE Secretary Jesus Crispin “Boying” Remulla on Tuesday said the Hague-based International Criminal Court (ICC) would be provided with available data in connection with the government’s ongoing investigation into the anti-drug war campaign under the Duterte administration. Remulla, however, clarified that the move should not be construed as compliance to the ICC’s request for the Philippine government to submit its comment until September 8, 2022 on the proposal made by ICC Prosecutor Karim Khan to reopen the investigation citing the DOJ and other concerned agencies’ alleged “lack of sincerity” to investigate and prosecute those involved in the drug-related killings. “Compliance is not the term. We will furnish them the available information as a matter of comity,” Remulla replied when asked if DOJ and other concerned government

agencies have already reached a consensus on whether to comply with ICC’s request for the government to submit until September 8, 2022 its comment on Khan’s proposal. Khan earlier said the proceedings being undertaken by these agencies “fail to sufficiently mirror the authorized ICC investigation, as required by Articles 17 and 18 of the Rome Statute.” He also alleged the Philippines has failed to show that it is investigating “any conduct occurring in Davao from 2011 to 2016, any crimes other than murder, any killings outside official police operations, any responsibility of mid- or high-level perpetrators, or any systematic conduct or State policy.” Solicitor General Menardo Guevarra, on the other hand, disclosed that the government’s legal team on the ICC investigation has arrived at a consensus on how to handle the case, but said the concerned agencies would have to further study its mechanics and implications. Guevarra stressed the need for the government’s legal team to carefully

handle the matters involving the ICC as it would not only affect the individuals subject of the complaint filed before it but the country’s sovereignty as well. “However, the agencies involved [Office of the President, Office of the Solicitor General, Department of Foreign Affairs, Office of the Chief Presidential Legal Counsel] are studying further, as instructed by PBBM [President Ferdinand ‘Bongbong’ R. Marcos Jr.], the mechanics for implementing their agreed course of action.” Guevarra also said the decision of the President not to rejoin the ICC was made in consideration of the country’s best interest and sovereignty. “As chief architect of our foreign policy, it is PBBM’s prerogative to determine what international organizations our country may join,” Guevarra said. Aside from the Philippine government, the ICC also sought the comments of the drug war victims and their families on the proposal made by Khan. The ICC issued the order last July

14 and gave the Philippine government until September 8, 2022 to submit its observations to the proposal. On the other hand, the ICC directed Khan to submit by September 22, 2022 any response to the observations that the Philippine government is tasked to provide. The ICC deferred its probe on the thousands of deaths that occurred during anti-illegal drug operations by authorities last November 20, 2021 upon the request of the Philippine government, citing the DOJ and other agencies’ ongoing probe into the drug-related killings. It specifically cited the ongoing review by the DOJ of 52 drug-related operations from 2016 to 2021 that resulted in deaths. The justice department earlier said at least 150 policemen are under investigation for their involvement in 52 anti-illegal drug operations where deaths occurred while 250 more cases of anti-illegal drug operations that resulted in deaths would be forwarded to the National Bureau of Investigation for investigation and case build-up.

Two OFWs found dead inside room in Dubai, necks slashed By Malou Talosig-Bartolome @maloutalosig

WO overseas Filipino workers (OFW) were found dead inside their room in Dubai on July 27, an OFW advocate group reported on Tuesday. The wife of one of the two workers reached out for help to Ronald “Bong” Concha of nongovern-

ment organization Kaagapay Ako ng Bawat OFW. She said her husband sustained slashes on his neck. Another OFW fatality, who was also inside the same room, apparently also sustained neck wounds. The Philippine Embassy in Abu Dhabi confirmed the incident and conveyed its “deep condolences to the family” of the two OFWs. The identities of the two OFWs

were withheld at the moment. Concha said the company that employ the two OFWs in Dubai have not informed the family of the incident. “Sana po mabigyan ng hustisya ang pagkamatay ng asawa ko,” the OFW’s wife, said, sobbing in a video posted on TikTok ’s account of Concha @ka_bong_concha. “Pumunta sya sa Dubai para bigyan ng kinabukasan ang anak

namin. Sana makulong kung sino man ang pumatay.” The wife also sought the help of the Overseas Workers Welfare Administration (OWWA) office in Tacloban City. The Embassy said the Philippine Consulate General in Dubai is coordinating with law enforcement authorities of the United Arab Emirates to “ensure that justice would be served.”

Peza and AmCham honor FVR’s contributions Gatchalian bill seeks to boost mental health in restoring investor confidence to Philippines and well-being services in basic education By Andrea San Juan

ORE business and economic groups paid tribute to former president Fidel V. Ramos on Tuesday as they recognized the former leader’s economic contributions to the country. The Philippine Economic Zone Authority (Peza) was among the agencies that paid tribute to the former president, highlighting that Ramos enacted the law, which enabled the creation of special economic zones in the country. In a news statement issued on Tuesday, Peza recalled, “In 1995, President Fidel V. Ramos signed into law Republic Act No. 7916 that established the Philippine Economic Zone Authority with a mandate to manage and regulate economic zones in the country.” From then on, the authority noted, the Philippines became a significant player in the export industry and global supply chain, while, at the same time, broadening horizons for many other local industries. The American Chamber of Com-

merce of the Philippines Inc. (AmCham) also mourned the passing of the former president. In a statement on Tuesday, AmCham noted the former president’s policies and programs to foster reconciliation and unity helped renew investor confidence in the Philippines. Throughout Ramos’s presidency, from 1992-1998, Amcham said the country showed remarkable recovery due to FVR’s economic initiatives including the modernization of public infrastructure through the expanded Build-Operate-Transfer (BOT) law and the implementation of a comprehensive Social Reform Agenda (SRA). The chamber said the said economic initiatives addressed longstanding issues on poverty, health, education, housing, livelihood and agrarian reform. Further, AmCham recognized the economic ties established between the Philippines and the United States under Ramos’s watch. “AmCham Philippines is truly appreciative of former President Ramos’s promotion of friendship and

economic ties between the Philippines and the United States and for his strong resolve to attain economic growth under his administration,” AmCham Philippines said in a statement on Tuesday. “We will miss him not only as a dedicated Head of State but as a dear friend of the Chamber. AmCham and our members are truly honored to have known and worked with him,” AmCham added. The chamber said the former president ’s ac hievements re main vital today and will continue to be a legacy in this nation’s history. Ramos was president from 1992 to 1998. Before that, he served as a Defense secretary under former President Corazon Aquino’s administration. The country’s 12th president died at the age of 94 on Sunday. His administration was marked by economic reforms including the passage of the Republic Act 8479 or the Oil Deregulation Act just before he ended his term and the country’s accession to the World Trade Organization in 1995.

By Butch Fernandez

@butchfBM

HE Senate was asked to tackle a bill seeking to strengthen the promotion and delivery of mental health services in the country’s basic education schools. In filing Senate Bill No. 379 to be known as the Basic Education Mental Health and Well-Being Promotion Act, Sen. Sherwin T. Gatchalian moved to include it among the priority measures lined up for the 19th Congress. It seeks to urgently counter the negative effects of the pandemic school closures on the mental health and socio-emotional development of learners, teachers and other nonteaching personnel. The senator affirmed that “in the long-term, it aims to institutionalize the Mental Health and Well-Being Program, which will provide mental health services, emotional, developmental and preventive programs, and other support services in all public and private basic education schools.” Gatchalian added that the remedial legislation also seeks to hire mental health professionals and deploy them

to public elementary, secondary, and vocational institutions. The measure likewise provides for establishing a Mental Health and Well-Being Center in every public and private basic education school in the country, adding, “The Center will be responsible for delivering mental health and well-being services.” In a move to address the shortage of Guidance Counselors nationwide, the Gatchalian bill also provides for the creation of a sufficient number of plantilla items for the positions of Guidance Counselor and Guidance Associate, a new position created under the measure. It added that a Guidance Associate should be a graduate of Bachelor’s degree in Guidance and Counseling, Psychology, Social Work, Human Services, and other allied disciplines or any related courses. The lawmaker’s Senate Bill 379 likewise proposed to raise the Salary Grades (SG) of Guidance Counselor I from SG 11 (P25,439) to SG 16 (P38,150), Guidance Counselor II from SG 12 (P27,608) to SG 17 (P41,508), and Guidance Counselor III from SG

13 (P29,798) to SG 18 (P45,203). It noted that while the Department of Education requires basic education schools to hire one Guidance Counselor for every 500 students, the Gatchalian bill pointed out that the Philippines has only 4,069 Guidance Counselors as of June 2022 since the first batch took the licensure examinations in 2008. Gatchalian pointed out that with 27.4 million elementary and high school schools, the desired ratio of one Guidance Counselor to every 500 students is not being met. “Titiyakin natin na ang ating mga paaralan ay may sapat na bilang ng mga propesyonal at dalubhasa pagdating sa mental health. Napapanahon ito lalo na’t patuloy tayong bumabangon mula sa pinsala ng pandemya, kung saan nakita natin ang matinding pinsala sa mental health ng ating mga guro at mga mag-aaral,” he assured. At the same time, Gatchalian clarified his proposed remedial legislation supports DepEd’s learning recovery plan, noting it, likewise, aims to address the socio-emotional and behavioral recovery of learners.

Abra quake revives lawmakers’ call for permanent evacuation centers By Jovee Marie N. Dela Cruz @joveemarie

ITH more than 8,000 families or over 33,000 persons displaced by the magnitude 7 earthquake that jolted Northern Luzon last week, lawmakers are pushing for the establishment of fully equipped, fully operational evacuation centers in the country. Camarines Sur Reps. LRay Villafuerte, Miguel Luis Villafuerte and Tsuyoshi Anthony Horibata and Bicol Saro Rep. Nicolas Enciso VIII filed House Bill 1091 providing for immediate and temporary accom-

modation for people who have been evacuated or dislocated from their homes because of emergency events such as earthquakes, typhoons, floods, storm surges, droughts and other severe climate disturbances, fires and disease outbreaks that present imminent danger to life and property. As thousands of families were forced to flee their homes and seek shelter in temporary evacuation centers or makeshift tents or stay with their relatives or friends after the July 28 temblor, President Ferdinand “Bongbong” Marcos Jr. ordered during his subsequent inspection of the

quake-hit areas the distribution of tarpaulins for the temporary makeshift shelters of the affected families. “The dislocation of thousand of families as an offshoot of the magnitude 7 earthquake that jolted Abra and other parts of the North has underlined anew the urgency of establishing disaster-resilient evacuation centers for the temporary shelter of those adversely affected by the onslaught of natural calamities and disease outbreaks,” said Rep. LRay Villafuerte. “ T he C o v id -19 p a nd e m ic , the climate crisis and this latest earthquake have heightened

the need for the construction of permanent evacuation centers in every city and municipality to ensure that evacuees have enough safe, well-ventilated, comfortable private spaces to go to during times of disasters,” added Villafuerte, who is also the vice president for political affairs of the National Unity Party (NUP). HB 1091 provides that evacuation centers shall be constructed and designed to withstand super typhoons or wind speeds of at least 300 kilometers per hour and seismic activity of at least 8.0 magnitude. The bill specifies that these fa-

cilities must be calamity-resilient, built with sturdy materials and in accordance with the specifications of Republic Act (RA) No. 6541, otherwise known as the “National Building Code of the Philippines,” or shall be at par with the standards set by the International Building Code. “The Philippines is susceptible to natural hazards, unforeseen disasters and other calamities because of its location along the socalled ‘Pacific Ring of Fire,’ an area where earthquakes and volcanic eruptions are more recurring than in any other areas of the world,” Villafuerte and his three HB 1091

co-authors said in their bill. They pointed out in HB 1091 that catastrophic incidences create a disastrous state in the lives of the Filipino, and that “among the Filipinos, the underprivileged are the ones who suffer the most during these times. They have lost their shelters; they have no food to eat; sometimes, even lives are taken by these calamities.” The bill tasked the Department of Environment and Natural Resources (DENR) to determine the location of every evacuation center, in close coordination with the particular local government unit (LGU) concerned.

A4 Wednesday, August 3, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

DBM disburses P4.13B to fund TCT program for vulnerable households By Bernadette D. Nicolas

@BNicolasBM

HE Department of Budget and Management (DBM) has approved the release of P4.13 billion to bankroll a Department of Social Welfare and Development (DSWD) program to distribute P1,000 cash assistance to over 4 million households affected by soaring prices of oil and basic commodities. In a news statement issued on Tuesday, the budget department said the immediate release of the amount for the second tranche of the Targeted Cash Transfer (TCT) program was requested by the Department of Finance to help mitigate the impact of inflation, especially on most vulnerable households. Budget Secretary Amenah F. Pangandaman greenlighted the release of the Special Allotment Release Order on Monday, August 1. Under the second tranche of TCT program implementation, P500 per month for two months will be released to non-beneficiaries of Pantawid Pamilyang Pilipino Program (4Ps) identified by the DSWD.

The TCT program aims to give P500 monthly cash subsidy for six months to be distributed in three tranches. “This is good news, especially for the most vulnerable households, who will be the beneficiaries of the second tranche of the TCT Program. Sila iyong mga kababayan natin na lubhang naapektuhan ng pagtaas ng gasolina at iba pang bilihin. We want them to know and feel that their government is here for them. We are ready to help them,” Pangandaman said. “Hangga’t kaya natin, patuloy po nating susuportahan ang mga programa ng pamahalaan na magbibigay-tulong sa ating mga kababayan. Sa kabila po ng pandemya at pagtaas ng presyo ng mga bilihin, patunay po ang ayudang ito na hindi po kayo pinababayaan ng gobyerno sa panahong kayo ay nangangailangan,” Pangandaman added. For his part, Finance Secretary Benjamin E. Diokno said the economic team made sure that the government has enough resources to provide the assistance. “Thistargetedcashtransferprogram,proposed

by the previous administration, will be continued by this government as rising fuel prices remain a burden to their daily lives,” he said. “The Marcos administration stands ready to support the most vulnerable. We are prepared to implement necessarymeasurestomakesurethattheyarecushioned from the impact of inflation.” The country’s inflation rate in June hit 6.1 percent, the highest in over three years. This brought the year-to-date inflation rate to 4.4 percent, beyond the government’s target band of 2 to 4 percent. TheCabinet-levelDevelopmentBudgetCoordination Committee expects inflation for this year to remain “elevated” as fuel and food prices rose due to the ongoing Russia-Ukraine war and supply chain disruptions. With this, they are expecting inflation this year to reach 4.5 to 5.5 percent. Last month, the DBM also released P6.2 billion to cover the first tranche of DSWD’s TCT program covering 4 million households enrolled under the 4Ps and another 2 million social pension beneficiaries.

www.businessmirror.com.ph

DA, SRA slate 2nd stakeholder consultation on sugar imports By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) will undertake a second round of stakeholders’ consultation to determine the volume of the proposed second round of sugar importation for the country to boost local supply and temper rising sweetener prices. Agriculture Undersecretary-designate Kristine Y. Evangelista said the DA and the Sugar Regulatory Administration (SR A) would meet industry stakeholders today (August 3) to determine the additional volume of sugar needed for the country’s proposed second importation program. “The amount of sugar [to be imported] po will be discussed tomorrow with the stakeholders because we have to make sure first, we have a proper inventory of our current supply situation before we can even recommend any additional importation volume needed,” Evangelista said at a virtual news briefing on Tuesday. “But what we are looking at right now is the supply at hand—we are assessing our current local supply if it will be reclassified for household consumption, knowing also that there is a demand for the industrial users,” Evangelista added. Evangelista disclosed that the DA’s meeting with sugar industry stakeholders last Friday pushed through with the country’s current sugar supply situation as the main agenda. Evangelista added that the “ways forward” to address present sugar supply will be discussed in this week’s consultation with industry stakeholders. “After the meeting with the stakeholders, we will report to the President and our DA Secretary again,” she said.

Evangelista revealed last week that it is already preparing for another round of sugar importation as domestic supply is projected to be depleted by the end of this month. Evangelista pointed out that additional sugar imports would address the needs of industrial users and households. (Related story: https://businessmirror. com.ph/2022/07/27/manila-eyes-freshround-of-sugar-imports-da-official/) “We will have to determine the requirements of both the industrial users and the households,” she told reporters in an interview last week. “Our current sugar supply is very, very thin. It is still not enough, but our direction for the meantime is looking into a [new] sugar order for importation.” Citing latest estimates of the SRA, Evangelista earlier said the country’s current refined sugar supply would be wiped out by end-August. The SRA earlier projected that refined sugar supply would last until this week while raw sugar would be depleted by the first week of August. (Related story: https://businessmirror.com. ph/2022/06/29/phl-may-run-out-ofsugar-by-august-sra/) Evangelista said the imported sugar under the importation program authorized by Sugar Order (SO) 3 has started to arrive and has augmented local sugar supply. SRA data showed 139,075.9 MT out of the total 200,000 MT of imported refined sugar under SO 3 has arrived in the country. Latest SRA data showed the price of refined sugar in Metro Manila markets as of July 29 reached as high as P115 per kilogram (kg). Sugar prices rose above the P100-per-kg price level for the fifth consecutive week. (Related story: https:// businessmirror.com.ph/2022/07/25/ price-of-refined-sugar-soarsamidcrippling-supply-woes/)

Sarangani farmers get help from DAR By Jonathan L. Mayuga

@jonlmayuga

HE Department of Agrarian Reform (DAR) in the province of Sarangani recently turned over three farm machinery and equipment to a group of farmers to boost their cacao and coconut productivity. The farm equipment, consisting of a hand tractor with trailer, cacao grinder, and coconut grater, with a total cost of about P250,000, was received by Pangyan Agrarian Reform Beneficiaries Organization (PARBO) of Purok Dungon, Barangay Pangyan, in the town of Glan. PARBO is one of the DAR-assisted organizations under the Climate Resilient Farm Productivity Support Project. It aims to provide agricultural extension services and support to farmers to develop resilience amidst the threats of climate change, Chief Agrarian Reform Program Officer John Gamad said in a news release. “The equipment will provide mechanization and ease post-harvest problems of

some 611 agrarian reform beneficiaries and farmers belonging to Pangyan, Burias, Baliton, and Cablalan agrarian reform community,” he said. Gamad encouraged the organization to ensure the sustainability of the project, materials and the maintenance of the farm machinery and to increase the sales of the organization. “The DAR will continue to monitor this project and I believe that you will fulfill your responsibilities as stated in the trust agreement that was established,” he added. On the other hand, PARBO President Reynaldo Calamayan said they are thankful for the assistance they received from DAR. “We will strive hard to manage and make all the machines and equipment to become instruments that will make our lives better,” Calamayan said. The turnover ceremony was attended by some DAR personnel from the provincial and municipal offices, barangay officials and the farmers in the said community.

One million farmers receive RCEF seeds

HREE years after its maiden implementation, more than 10 million bags of certified seeds were distributed to about 1 million farmers from the 42 target provinces under the Rice Competitiveness Enhancement Fund (RCEF). Estimates also show that rice areas planted with RCEF seeds reach 1.5 million hectares yearly. As of July, 1.57 million bags were distributed to more than 630,000 farmers in 731 cities and municipalities, with estimated area coverage of 720,000 hectares for 2022 wet cropping season. The RCEF-Seed Program being implemented by Department of AgriculturePhilippine Rice Research Institute (DAPhilRice) continues to operate in 42 provinces that have high potential to adopt certified inbred seeds. With the OneDA approach, which aims to maximize resources and unify efforts of the agencies under DA, provinces not included in RCEF are being assisted by the National Rice Program. The RCEF-Seed provinces include Ifugao, Kalinga, Ilocos Sur, La Union, Nueva Vizcaya, Quirino, Aurora, Bataan, Bulacan, Pampanga, Zambales, Cavite, Laguna, Quezon, Albay, Masbate, and Sorsogon in Luzon. RCEF-Seed Program also reached Aklan, Antique, Capiz, Negros Occidental,

Bohol, Negros Oriental, Biliran, Samar (Western Samar), Southern Leyte in Visayas. For Mindanao, the Program also served Zamboanga del Sur, Zamboanga Sibugay, and Lanao del Norte. Misamis Occidental, Misamis Oriental, Davao de Oro, Davao del Norte, Davao del Sur, Davao Oriental, Sarangani, South Cotabato, Agusan del Norte, Agusan del Sur, Surigao del Sur, Lanao del Sur, and Maguindanao are also included in the program. Meanwhile, a study conducted by the Socioeconomics Division of DA-PhilRice showed that certified seed adoption in the RCEF provinces increased from 48 percent in 2019 wet season (prior to RCEF’s implementation) to 84 percent in 2021 wet season. High utilization rates were also recorded as 98 percent of the farmer-beneficiaries have planted the RCEF seeds within the actual season they received the provision. The study affirmed that farmers plant the seeds when they receive it in time for their planting dates. “In close coordination with our partnerlocal government units, we carefully plan the seed delivery schedule in every city and municipality. This made seed distribution activities timely based on the planting period of various localities,” said Flordeliza Bordey, head of the DA-PhilRice RCEF Program Management Office.

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

7 PRIME TECH, INC. 10/f Ewestpod, Eton Westend Square, Yakal St. Cor. Don Chino Roces Ave., San Antonio, City Of Makati Basic Qualification: DWI PUSPITASARI Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 1. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01, Kennedy Road, Tambo, City Of Parañaque CHAO, YINGHUI Basic Qualification: Mandarin Customer Service Representative Fluent in Mandarin both oral and written 2. Brief Job Description: Interact with customer to provide information, support and Salary Range: problem resolution to inquiries and order status Php 30,000 - Php 59,999 LI, CHENG Basic Qualification: Mandarin Customer Service Representative Fluent in Mandarin both oral and written 3. Brief Job Description: Interact with customer to provide information, support and Salary Range: problem resolution to inquiries and order status Php 30,000 - Php 59,999 LIU, HUIFENG Basic Qualification: Mandarin Customer Service Representative Fluent in Mandarin both oral and written 4. Brief Job Description: Interact with customer to provide information, support and Salary Range: problem resolution to inquiries and order status Php 30,000 - Php 59,999 REN, JIAN Basic Qualification: Mandarin Customer Service Representative Fluent in Mandarin both oral and written 5. Brief Job Description: Interact with customer to provide information, support and Salary Range: problem resolution to inquiries and order status Php 30,000 - Php 59,999 ACCIONA CONSTRUCTION PHILIPPINES INC. 23/f Tower 2, The Enterprise Center Tower 2, Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati Basic Qualification: Extensive construction supervision experience on PINTO GONCALVES, MANUEL FELICIANO important intl. structure Project Superintendent projects, intl. experience required, experience in railway 6. Brief Job Description: projects would be highly Ensure that the use of project resources & all construction valued, fluent in Spanish & activities are carried out safely & w/ time & cost efficiency. English. Salary Range: Php 150,000 - Php 499,999 AMUSETECH BUSINESS OUTSOURCING, OPC 2/f Rivergreen Residences, 2217 Pedro Gil St., Barangay 880, Santa Ana, City Of Manila Basic Qualification: Knows how to recommend CHIN WUNN FEI potential products or services Customer Service Representative Mandarin Speaking to management by collecting 7. customer information and Brief Job Description: analyzing customer needs. Build sustainable relationship of trust through open and interactive communication mandarin speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend CHIU, YEN-CHUN potential products or services Customer Service Representative Mandarin Speaking to management by collecting 8. customer information and Brief Job Description: analyzing customer needs. Build sustainable relationship of trust through open and interactive communication mandarin speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend LAI GUAN LIN potential products or services Customer Service Representative Mandarin Speaking to management by collecting 9. customer information and Brief Job Description: analyzing customer needs. Build sustainable relationship of trust through open and interactive communication mandarin speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend WU, TSUNG-YUEH potential products or services Customer Service Representative Mandarin Speaking to management by collecting 10. customer information and Brief Job Description: analyzing customer needs. Build sustainable relationship of trust through open and interactive communication mandarin speaking. Salary Range: Php 30,000 - Php 59,999 ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D., Macapagal Blvd. Cor. Aseana Street, Tambo, City Of Parañaque Basic Qualification: NANG THIDA AYE Able to Speak, Read, and Burmese Customer Service Representative Write Chinese Language 11. Brief Job Description: Salary Range: Managing incoming calls and customer service inquires Php 30,000 - Php 59,999

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JOHN MUSTIJAYA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires YULIANA Indonesian Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. HY CAM LY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LANH VAN VUNG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

LUU CHI LAM Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NGO CHAU GIANG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

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Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

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Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

TAO CHI THANH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires TRINH VAN BANG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires TRUONG THI TU UYEN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires VO THI LY Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

Brief Job Description: Resolving all issues co-workers have with their IT system and software

LAI, GAORUI Mandarin Speaking Project Supervisor 29.

Brief Job Description: Act as Project Supervisor on Capital Construction and Renovation projects

LI, HAO Mandarin Speaking Project Supervisor 30.

QUALIFICATION AND SALARY RANGE

Brief Job Description: Act as Project Supervisor on Capital Construction and Renovation projects

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32.

APRIYANTO TOK Sports Trader - Bahasa Speaking I Brief Job Description: Good in statistic or probability

OOI CHIZ MAY Sports Trader - Bahasa Speaking I Brief Job Description: Good in statistic or probability

CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Bldg. F, Ayalaland, Technohub, Quezon City SANTIWONG, WATHANYA Advisor I, Customer Service 33.

Brief Job Description: Will be providing customer service support for Spotify customer thru email/chat

No.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin and English with good communication skills and preferably 5 years of experience as Chinese speaking IT specialist Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as project supervisor. Salary Range: Php 60,000 - Php 89,999 Basic Qualification: College Graduate, Outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as project supervisor. Salary Range: Php 60,000 - Php 89,999

CLOVERSENSE TECHNOLOGY INC. 29/f Robinsons Summit Center, 6783 Ayala Center, Bel-air, City Of Makati

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquires

TANG, MING Chinese Speaking It Specialist

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

NGUYEN VAN TUY Vietnamese Customer Service Representative

ESTABLISHMENT / ADDRESS

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati Basic Qualification: Fluently speak and write PATHUMCHOTE, NAKIN chines, Bahasa Indonesia, Bahasa Indonesian Language-officer Fund Management Bahasa Malaysia, Vietnamese, 23. Thai, to cater foreign market Brief Job Description: Must ensure their funds reporting requirements are met Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, fluently speak VALLEN VLYRANDY TULAR and write Bahasa Indonesian Bahasa Indonesian Language-officer Marketing language, can work under 24. pressure Brief Job Description: Initiate conversation to uncover customer needs Salary Range: Php 30,000 - Php 59,999 Basic Qualification: SORNPANU, PHANTHASITH Degree holder, fluently speak Thai Language-officer Marketing and write Thai language, 25. computer proficient Brief Job Description: Create specific promotion for affiliates, develop report with Salary Range: the customers Php 30,000 - Php 59,999 BOSKALIS PHILIPPINES INC. Unit 3701, 3801 The Orient Square, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig Basic Qualification: VARGAS REYES, YANNAI At least 5 years’ experience in Health, Safety And Security (HSS) Specialist a similar role. Experience in an international dredging and 26. Brief Job Description: land development industry. Ensures that all of health, safety and security standards are followed and implemented. Salary Range: Php 150,000 - Php 499,999 CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 21st Floor Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig Basic Qualification: Fluent in Mandarin and English with good communication HUANG, GUOLIANG skills and preferably 5 years Chinese Speaking Cabling Infrastructure Technician of experience as Chinese 27. speaking cabling infrastructure Brief Job Description: technician Install Cat5e, Cat6, Cat6a, and Fiber optic cabling system

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Wednesday, August 3, 2022

Basic Qualification: Must have good analytical skills, excellent in writing, reading and speaking Thai and English

GUPTA, AAKASH Business Payment Manager 34.

DONG, YUNLAI Customer Service Representative 45.

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

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

DELIVERY HERO PHILIPPINES, INC. 16th / 17th Floors Milestone @ Fifth Avenue Building, 5th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Brief Job Description: Responsible for managing and supervising the accounts payable department and staff in the organization.

QUALIFICATION AND SALARY RANGE Basic Qualification: Job relevant degree/ 5-10 years supervisory or managerial experience/ multilingual. Salary Range: Php 150,000 - Php 499,999

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati Basic Qualification: PANKONG, SARAWUT Proficient in Speaking, Reading Bilingual It Specialist and Writing in Bilingual 35. Languages Brief Job Description: Monitoring and maintaining computer systems & networks. Salary Range: Php 30,000 - Php 59,999 QUACH LOI HUONG Basic Qualification: Vietnamese Speaking Customer Service Representative Proficient in speaking, reading and writing in Vietnamese 36. Brief Job Description: Immediately escalating serious complaints or issues that you Salary Range: are not equipped to deal with Php 30,000 - Php 59,999 TRAN TO PHUONG Basic Qualification: Vietnamese Speaking Customer Service Representative Proficient in speaking, reading and writing in Vietnamese 37. Brief Job Description: Immediately escalating serious complaints or issues that you Salary Range: are not equipped to deal with Php 30,000 - Php 59,999 EASTERN GOLD CORPORATION 503, Nueva St., Barangay 289, Binondo, City Of Manila Basic Qualification: Can contributes information, JIAO, WENJING ideas, and research to help Marketing And Sales Agent develop marketing strategies; can help to detail, design, and 38. Brief Job Description: implement marketing plans for Researches and develops various marketing strategies for each product or service being products and services and implements marketing plans and offered. works to meet sales quotas Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can contributes information, PENG, LEIGEN ideas, and research to help Marketing And Sales Agent develop marketing strategies; can help to detail, design, and 39. Brief Job Description: implement marketing plans for Researches and develops various marketing strategies for each product or service being products and services and implements marketing plans and offered. works to meet sales quotas Salary Range: Php 30,000 - Php 59,999 EDSA SHANGRI-LA HOTEL & RESORT, INC. Edsa Shangri-la Hotel, Ortigas Avenue, Wack-wack Greenhills, City Of Mandaluyong Basic Qualification: REYNOLDS, JONATHAN PHILIP Has a strong knowledge General Manager about the new trends in the 40. hospitality industry Brief Job Description: With experience as a general manager in an international Salary Range: hotel Php 500,000 and above FOKUSI CONSTRUCTION INC. Unit 2105 & 2105, High Street South Corporate Tower 1, 26th Street Corner 11th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig Basic Qualification: SUN, LIN College graduate; at least 6 Finance Supervisor months experience in the 41. mentioned position. Brief Job Description: Balances and reconciles accounts; adjusts and corrects daily Salary Range: journal entries. Php 30,000 - Php 59,999 GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati Basic Qualification: Proficient in speaking, reading DANG THI THUY TRANG and writing in English and their Vietnamese Customer Service Representative respective native language for the position applied for, fluent Brief Job Description: 42. in Chinese Mandarin is an Attracts potential customers by answering product and advantage. service questions; suggesting information about other products and services. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading LE THI NGOC HAN and writing in English and their Vietnamese Customer Service Representative respective native language for the position applied for, fluent 43. Brief Job Description: in Chinese Mandarin is an Attracts potential customers by answering product and advantage. service questions; suggesting information about other products and services. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading TRAN PHAN VINH THINH and writing in English and their Vietnamese Customer Service Representative respective native language for the position applied for, fluent 44. Brief Job Description: in Chinese Mandarin is an Attracts potential customers by answering product and advantage. service questions; suggesting information about other products and services. Salary Range: Php 30,000 - Php 59,999 GATEWAYSOLUTIONS CORP. Unit 2306 Antel Global Corporate Center, Julia Vargas Ave., San Antonio, City Of Pasig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must have good analytical skills, excellent in writing, reading and speaking Thai and English

Basic Qualification: Basic computer navigation skills and PC knowledge.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: A customer service representative supports customers by providing helpful information, answering questions, and responding to complaints. They’re the front line of support for clients and customers and they help ensure that customers are satisfied with products, services, and features.

WANG, CUIFEI Customer Service Representative 46.

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. 31/f Tower 6789, 6789 Ayala Avenue, San Lorenzo, City Of Makati

Basic Qualification: Must be a College graduate; Can Prepare product or service reports by collecting and analyzing customer information; Can contribute to team effort by accomplishing related results as needed; Can Manage large amounts of incoming calls. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be a College graduate; Can Prepare product or service reports by collecting and analyzing customer information; Can contribute to team effort by accomplishing related results as needed; Can Manage large amounts of incoming calls. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

Wednesday, August 3, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HUNG, CHING-YING Chinese Customer Service Representative

47.

Brief Job Description: Attracts potential customers by answering product and services question, suggesting information about other products and services

CA VAN KIEN Vietnamese Customer Service Representative 48.

Brief Job Description: Manage and Direct Operations team to Achieve Business Targets

HOANG THI LAN Vietnamese Customer Service Representative 49.

Brief Job Description: Manage and Direct Operations team to Achieve Business Targets

KIEU QUOC HUNG Vietnamese Customer Service Representative 50.

Brief Job Description: Manage and Direct Operations team to Achieve Business Targets

NGUYEN THI MY HOA Vietnamese Customer Service Representative 51.

Brief Job Description: Manage and Direct Operations team to Achieve Business Targets

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin is an advantage Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking , Reading and Writing in English and their Respective Native Language for the Position Applied for , fluent in Chinese Mandarin is an Advantage Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking , Reading and Writing in English and their Respective Native Language for the Position Applied for , fluent in Chinese Mandarin is an Advantage Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking , Reading and Writing in English and their Respective Native Language for the Position Applied for , fluent in Chinese Mandarin is an Advantage Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking , Reading and Writing in English and their Respective Native Language for the Position Applied for , fluent in Chinese Mandarin is an Advantage

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Brief Job Description: Managing incoming calls and customer service inquiries. MENG, QISHENG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires OLIVIERE Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries PU, QIANG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires QU, JINHUAN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

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

KDDI PHILIPPINES CORPORATION Units A, B, C, & D, 25/f Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, City Of Makati Basic Qualification: Bachelor’s degree in SASAKI, TAKAHIRO accounting or finance; Account Manager 3 + years of progressive accounting experience; 52. Brief Job Description: proficient in speaking, reading Responsible for the sales and marketing operations of the & writing company Salary Range: Php 90,000 - Php 149,999 MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City Basic Qualification: A LAY PHA Able to speak, Read, and Write Burmese Customer Service Representative Chinese language. 53. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries. Php 30,000 - Php 59,999 Basic Qualification: HNIN HTET HTET AUNG Able to speak, Read, and Write Burmese Customer Service Representative Chinese language. 54. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries. Php 30,000 - Php 59,999 Basic Qualification: KHIN HNIN YE Able to speak, Read, and Write Burmese Customer Service Representative Chinese language. 55. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries. Php 30,000 - Php 59,999 Basic Qualification: KHIN LAE WIN Able to speak, Read, and Write Burmese Customer Service Representative Chinese language. 56. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries. Php 30,000 - Php 59,999 Basic Qualification: THAN THAN HTWE Able to speak, read and write Burmese Customer Service Representative Chinese language 57. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries Php 30,000 - Php 59,999 Basic Qualification: TUN WIN NAING Able to speak, read and write Burmese Customer Service Representative Chinese language 58. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries Php 30,000 - Php 59,999 Basic Qualification: YAN HWAY KYEIN Able to speak, read, and write Burmese Customer Service Representative Chinese language. 59. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries. Php 30,000 - Php 59,999 Basic Qualification: THAN ZAW Able to speak, read, and write Burmese Customer Service Representative Chinese language. 60. Brief Job Description: Salary Range: Managing Incoming calls and customer service inquires. Php 30,000 - Php 59,999 Basic Qualification: CHEN, HAONAN Able to speak, read and write Chinese Customer Service Representative Chinese language 61. Brief Job Description: Salary Range: Managing incoming calls and customer service inquiries Php 30,000 - Php 59,999 Basic Qualification: LIN, DAJING Able to speak, read, and write Chinese Customer Service Representative Chinese language. 62. Brief Job Description: Salary Range: Managing Incoming calls and customer service inquires. Php 30,000 - Php 59,999 LUO, XINGYI Chinese Customer Service Representative

No.

Basic Qualification: Able to speak, Read, and Write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

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

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION RODDY, ANDROLES Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries XIE, JIAMING Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. XIN, JIANGFEI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries YANG, DUOZHI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries YANG, SHAOSI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries YANG, XIAO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. YU, HONGGUI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. ZHANG, JINGYI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. ZHOU, GAOPEI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries FENNY CHRISTINA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. FRANSISCA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. GERRY Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires MEIVI MEILINA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. MUDIANDI Indonesian Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. SYLVIA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. SYLVIA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. WENDY SUNATA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. METHODIUS CHAM JER SIEW Malaysian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. TING SING TIEN Malaysian Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. CHONG NGOC HUONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. LAM THANH TUNG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. LE VAN HAI Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LE VAN TUYEN Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. LIEU THI NGOC Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. NGUYEN THI QUYNH HUONG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. NGUYEN VAN THANH Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language.

No.

94.

95.

96.

97.

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

PHUNG VAN VONG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. QUAT VAN TUYEN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. TRINH NGOC VINH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries. VONG BAC LINH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

MULTI AVANCE SOLUTIONS INC. 7/f Ba Lepanto Bldg., 8747 Paseo De Roxas, Bel-air, City Of Makati LI, JUN Mandarin Software Specialist 98.

Brief Job Description: To engage in the business of software development, technical consulting services NEO TERRA SERVICE CORP. 11/f Jaka Bldg., 6780 Ayala Ave., San Lorenzo, City Of Makati HSIAO, KAI-WEN Mandarin Speaking Admin Specialist 99.

Brief Job Description: Responsible for keeping up with overseeing office supply purchasing and inventory, and scheduling office equipment maintenance, perform word processing functions ranging from drafting memos to typing and editing reports, products proposals and other business documents.

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

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

Basic Qualification: With at least 6 months’, work related experience, with good oral and written communication skills, knowledgeable in computer applications Salary Range: Php 30,000 - Php 59,999

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f, Pearl Marina Building Pacific Drive, Don Galo, City Of Parañaque Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque 1331 Pearl Plaza Bldg., Quirino Ave., Tambo, City Of Parañaque

GUO, CHUANDONG Chinese Customer Service 100.

101.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents. KUANG, ZHUO Chinese Customer Service Brief Job Description: Customer support and data base services LAN, CHUNQIU Chinese Customer Service

102.

103.

104.

105.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills LIU, JUNJIE Chinese Customer Service Brief Job Description: Customer Support and Data Base Services. LYU, ZHIPENG Chinese Customer Service Brief Job Description: Customer support and data base services. WEI, YUZE Chinese Customer Service Brief Job Description: Customer support and data base services YANG, SHENGGAO Chinese Customer Service

106.

107.

108.

109.

110.

111.

112.

113.

114.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents. JEREMY TIODORA Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services.

TEOH CHEE WAY Malaysian Customer Service Brief Job Description: Customer support and data base services

LI KYAR YAN Myanmari Customer Service Brief Job Description: Customer support and data base services

MYO KYAW KYAW SINT Myanmari Customer Service Brief Job Description: Customer support and data base services.

SU NANDAR NWE Myanmari Customer Service Brief Job Description: Customer Support and Data Base Services.

YE KYAW KYAW SINT Myanmari Customer Service Brief Job Description: Customer support and data base services

YE YINT AUNG Myanmari Customer Service Brief Job Description: Customer support and data base services WU, CHEN-YU Taiwanese Customer Service Brief Job Description: Customer Support and Data Base Services.

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language). Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

115.

116.

117.

118.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHIENG NGOC LINH Vietnamese Customer Service Brief Job Description: Customer support and data base services

CHUNG MAU THANH Vietnamese Customer Service Brief Job Description: Customer support and data base services DO THI LOAN Vietnamese Customer Service Brief Job Description: Customer support and data base services DOI VAN THO Vietnamese Customer Service Brief Job Description: Customer support and data base services DUONG DINH LAM Vietnamese Customer Service

119.

120.

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123.

124.

125.

126.

127.

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135.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents. HOANG THI BICH DU Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services. HOANG VAN HUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services HOANG VAN HUU Vietnamese Customer Service Brief Job Description: Customer support and data base services HOANG VAN THANH Vietnamese Customer Service Brief Job Description: Customer support and data base services HUYNH THACH THAO Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LE THI HOA Vietnamese Customer Service Brief Job Description: Customer support and data base services

LE THI PHUONG ANH Vietnamese Customer Service Brief Job Description: Customer support and data base services

LE XUAN DIEU Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services. LY SEC LAM Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services. NGUYEN THI DIEM Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN THI HONG TRIEU Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN THI MINH PHUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN THI THEM Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN TIEN SON Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN VAN HOANG Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN VAN QUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

No.

136.

137.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language). Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

138.

139.

140.

141.

142.

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144.

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

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

145.

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

NONG VAN MOI Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHAM VIET TOAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHUNG THI HONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

THANG GIA NHI Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRAN THUY LINH Vietnamese Customer Service Brief Job Description: Customer support and data base services

VI VAN LUC Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

VU VAN PHUONG Vietnamese Customer Service Brief Job Description: Customer Support and Data Base Services.

Brief Job Description: Experience in Integrated Operating System – pillars, standard work processes, lean/continuous improvement methods and tools

No.

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

152.

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

ANG YIH SHENG General Manager Slot 146.

Brief Job Description: Developing key performance goals and managing the performance of staff.

Brief Job Description: Ensure that EUC and MIS operations projects are implemented and completed within the timeline and allocated budget. Monitors on-going EUC and MIS operations projects and initiatives on regular basis

TOOMICS STUDIO INC. Unit 1205 & 1206 12th/f One Park Drive 9th Avenue Corner 11th Drive, Uptown Bonifacio, Bonifacio Global City, Fort Bonifacio, City Of Taguig

KIM, DAIN Administrative Manager 153.

Brief Job Description: Management support, daily management, recruitment, selection and training of other employees, creating strategies to support business aims.

VEDO TRADING CORPORATION 12/f Robinsons Summit, Center 6783 Ayala Ave., Bel-air, City Of Makati LIANG, HUBIAO Mandarin HR Officer 154.

Brief Job Description: Implements new hire orientation and employee recognition programs

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment STEFANNY Indonesian-language Customer Support Staff

148.

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment

ROYGAEW, ROYGAEW Bilingual Marketing Specialist 155.

Brief Job Description: Conduct market research to find answers about consumer requirements, habits and trends. TRAN PHOI CUONG Vietnam-speaking Customer Service Officer

156.

157.

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

159.

Brief Job Description: Maintains financial accounts by processing customer adjustments.

Basic Qualification: Soft skills: communication and presentation skills, Training skills Leadership: Coaching and Mentoring skills

LAM CAY TRENH Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints LE THE VINH Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints NGUYEN THI NGOC HUYEN Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

ARDY YANTO Bahasa Language Customer Service Representative 160.

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

Basic Qualification: Candidate should have a minimum 1 year solid experience in the same field. Should be fluent in mandarin and able to understand esl. Good computer skills.

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

GILANG NOVANDRA Bahasa Language Customer Service Representative 161.

162.

150.

Brief Job Description: Manages all project costs; proactive involvement in procurement and reporting PANG CHUN LEONG Quantity Surveying Manager

151.

Brief Job Description: Manages all project costs; proactive involvement in procurement and reporting

SPI TECHNOLOGIES, INC. Pitc Bldg., Pascor Drive, Sto. Nino, City Of Parañaque

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

REXY ANANDA DWIMURY Bahasa Language Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A Native Speaker of the Indonesian Language (Spoken and Written)

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

HENDRI JUNIKO Bahasa Language Customer Service Representative

Basic Qualification: A Native Speaker of the Indonesian Language (Spoken and Written)

163.

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

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

SRI SUSANTI Bahasa Language Customer Service Representative 164.

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

Basic Qualification: Fluent in Korean Salary Range: Php 30,000 - Php 59,999

YETI Bahasa Language Customer Service Representative 165.

SHANG PROPERTIES, INC. Shangri-la Plaza Edsa, Cor Shaw Boulevard, Wack-wack Greenhills, City Of Mandaluyong LEE JUN FUI Quantity Surveying Manager

Basic Qualification: Excellent in writing, reading and speaking in bilingual languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent in Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999

ZIMI TECH, INC. 29th/f Burgundy Corporate Tower 252, Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

JUNG, DAEYOUNG Analyst, Accounts Payable (Korean)

149.

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

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati

158.

S.C. JOHNSON PHILIPPINES ROHQ 1077, J.p. Rizal St., Poblacion, City Of Makati

Brief Job Description: Supports the Accounts Payable function and responsible for the accurate, efficient, and effective delivery of invoice processing and resolution, vendor master data coordination, or payments processes within agreed timelines and ensuring compliance to defined process control frameworks.

Basic Qualification: Excellent in Mandarin Language

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati

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

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

147.

Basic Qualification: Speak and write fluent Korean, can operate a computer in Korean characters, at least one year experience in a management position and willing to operate and be liable for the obligations of the company. Salary Range: Php 90,000 - Php 149,999

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

DEBBY WINONA Indonesian-language Customer Support Staff

Basic Qualification: Must have at least 5 years work experience in a Senior IT Managerial of Director role. Must have proficient knowledge and proven expertise in a various information technology facets with emphasis on end user computing and MIS Salary Range: Php 500,000 and above

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

QUALIFICATION AND SALARY RANGE

RAO, HARISH BHIMSENA Director For IT Corporate IT/ EUC And MIS Operations

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

RGB LTD. (PHILIPPINE BRANCH) 15/flr. R Magsaysay Ctr, Roxas Blvd. 076, Barangay 699, Malate, City Of Manila

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

Brief Job Description: Customer support and data base services

DOGRUYOL, ENSAR Global Open+ Deployment Leader

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

NONG VAN HUAN Vietnamese Customer Service

QUALIFICATION AND SALARY RANGE

PMFTC INC. Plant C & D, Champaca Ii, Fortune, City Of Marikina

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

Brief Job Description: Customer support and data base services

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NONG A NHIT Vietnamese Customer Service

Wednesday, August 3, 2022

Basic Qualification: 15 years of relevant experiences and 8 years in a management role

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

Basic Qualification: Proficient in Writing, Reading and Speaking in Both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Writing, Reading and Speaking in Both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Writing, Reading and Speaking in Both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Writing, Reading and Speaking in Both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Writing, Reading and Speaking in Both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Writing, Reading and Speaking in Both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999 *Date Generated: Aug 2, 2022

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

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

Basic Qualification: 15 years of relevant experiences and 8 years in a management role

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

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

BusinessMirror

Wednesday, August 3, 2022

Republic of the Philippines

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

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

August 3, 2022

NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S)

ESTABLISHMENT

CYPRESS MANUFACTURING LTD. (PHILIPPINE BRANCH)

Berengeur St., GBP-SEZ, Javalera, City of General Trias, Cavite

FUJITSU DIE-TECH CORPORATION OF THE PHILIPPINES

113 East Science Ave., Laguna Technopark, Biñan, City of Biñan, Laguna

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

SIM PECK SAN a.k.a. SHEN BISHAN

Basic Qualification:

Chief Financial Officer

12 years of working experience in costing management/financial accounting in a manufacturing environment

Brief Job Description:

INATEC CORPORATION

Unit 2, Blk. 2, Lot 1, Lisp III-SEZ, San Rafael, City of Sto. Tomas, Batangas

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

Salary Range:

KATO, MASATOSHI

Basic Qualification:

Adviser/Consultant (Accounting & Finance Section)

Excellent in Japanese communication skill both orally and in writing

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

Php500,000 and above

14 Brief Job Description:

Able to speak, read and write Chinese language.

Brief Job Description: Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LU, QIFENG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language.

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

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

FU KAUNG ZAW

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

HA THI THUYEN

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Provide support & consultancy activities for accounting & finance section

Php150,000 - Php499,999

OKU, SHIGEKI

Basic Qualification:

Brief Job Description:

Salary Range:

Administration Assistant Manager

College Graduate

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

HAU KHA LE

Basic Qualification:

Brief Job Description:

Salary Range:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

HOANG THI ANH VAN

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LA THI TUYEN

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LE TUAN HAO

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LY CHAU

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LY THI HUONG

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

NGUYEN THI HONG NGOC

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range:

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

Oversee key projects, processes, performance reports, data and analysis

Php60,000 - Php89,999

JONE KYEIN CHAN

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language.

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

KHINMYAT THU

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language.

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

Brief Job Description:

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

Brief Job Description: Salary Range:

Chinese Customer Service Representative

Salary Range:

Basic Qualification:

Brief Job Description:

Finance and controlling activities within the sites including financial reporting, internal control, financial analysis, budgeting and forecasting, target cost roadmap and internal compliance

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

Salary Range:

LONG, MIAO

Salary Range:

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s: NO.

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Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

KYINT KYU

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language.

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

Brief Job Description: Salary Range:

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

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

SAI KYAW YE HTET

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language.

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

Brief Job Description: Salary Range:

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

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

CHANG, XIN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language.

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

Brief Job Description: Salary Range:

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

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

HE, XIAOTONG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language.

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

Brief Job Description: Salary Range:

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

Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

LONG TAIHE

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

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

Salary Range: Manage incoming calls and customer service inquiries

Php30,000 - Php59,999

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Wednesday, August 3, 2022 A9

Quake damage to agri infra in CAR, Ilocos at ₧263M

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE total damage and losses to agriculture-related facilities in two Northern Luzon regions due to the recent 7.0-magnitude earthquake has climbed to P263 million, according to the Department of Agriculture (DA).

“Damage and losses have been reported due to the 7.0-magnitude earthquake in the Cordillera Administrative Region [CAR] and Ilocos Region amounting to P263.0 million,” the DA Disaster Risk and Reduction Management Operations Center (DA-DRRM OpCen) said in its fifth bulletin report. “These include irrigation systems, farm-to-market roads, and farm structures,” the DA-DRRM OpCen added. The DA-DRRM OpCen said as of August 1, there has been no crop damage reported due to the earthquake. The DA-DRRM OpCen said the DA Regional Field Office (RFO) in CAR reported that 39 irrigation systems and five farm-to-market roads (FMRs) were damaged or unoperational “due to erosion and cracks on concrete structures.” The damaged irrigation systems and FMRs would require clearing and repair to restore their

operational status, according to the DA-DRRM OpCen. “Based on the National Irrigation Administration’s [NIA] assessment conducted by various regional officers, 2 [National Irrigation Systems] NIS and 24 [Communal irrigation Systems] CIS/projects in CAR and 4 NIS and 24 CIS in Region 1 are damaged,” it said. “Moreover, no damage was observed in Pantabangan and Magat dam based on initial assessment. These values are subject to validation,” it added. The DA-DRRM OpCen said the transport of food and agricultural commodities from the affected regions to key consuming areas in Luzon have remained unhampered despite the impact of the earthquake. “The trading volume remained within the normal average volume traded for the month. Furthermore, there are no reported irregularities or drastic changes on the prices and volume of agricultural commodities,

especially on vegetables,” it added. The DA-DRRM OpCen said the DA-CAR RFO mobilized two Kadiwa trucks to sell 4.36 metric tons [MT] of highland vegetables and other food items at “affordable” prices to affected municipalities in CAR. The DA-DRRM OpCen added that the Kadiwa store has already served at least 1,455 households to date. “BFAR-CAR and DA RFO I also sent Kadiwa trucks with 2.00 MT fish and fish products, and other lowland commodities, in coordination with the Agricultural Program Coordinating Office-Abra and Office of the Provincial Agriculturist,” it said. “Also, DA RFO III is conducting an arrangement with DA RFO CAR for the delivery of at least 50 cavans of rice,” it added. The DA-DRRM OpCen said the National Food Authority’s (NFA) rice buffer stock remains ample to supply relief operations in earthquake-affected areas of CAR, Regions 1, 2 and 3. “NFA ensures that a warehouse is open to cater the needs of the Department of Social Welfare and Development [DSWD], LGUs, institutions and other relief agencies. As of July 30, 2022, NFA has issued a total of 145 bags for relief operations,” it said. The DA-DRRM OpCen said the DA is continuously coordinating with concerned national government agencies, local government units and other DRRM-related offices for the earthquake impact as well as “available resources for interventions and assistance.”

DOJ remembers FVR as a pillar in improving PHL justice system

FFICIALS and employees of the Department of Justice (DOJ) led by Justice Secretary Jesus Crispin “Boying” Remulla joined the entire nation in mourning the passing of former President Fidel V. Ramos. Remulla said Ramos will be remembered as a pillar in improving the justice system in the country. He remembered that Ramos, in one of his speeches in 1992, said: “I am determined to see that our

people become satisfied with the justice system. This is the only way they can appreciate the meaning of the words ‘Rule of Law.’” One of Ramos’s legacies as the country’s 12th President, Remulla said, was his order to include, as an integral part of the continuing education and training of personnel in the department, was the study of human rights. Aside from this, Ramos also authorized Registries of Deeds to oc-

cupy or continue to occupy office spaces assigned to them in buildings that have been constructed or will be constructed to building plans approved under the Justice System Infrastructure Program (JUSIP) to ensure the protection and preservation of land titles. “The DOJ will always remember President Ramos and honor him by adhering to his words: ‘Justice is a Government project: Do not delay,’” Remulla said. Joel R. San Juan

DOJ says it will abide by CA order Another freak road to file raps vs actor Vhong Navarro mishap: Tanker spills By Joel R. San Juan @jrsanjuan1573

HE Department of Justice (DOJ) said it would abide by the order issued by the Court of Appeals (CA) to file rape and acts of lasciviousness charges before a trial court against ABS-CBN television host and actor Ferdinand “Vhong” Navarro. “We will obey the courts,” Justice Secretary Jesus Crispin “Boying” Remulla said when sought for his comment on the recent decision released by the CA. It can be recalled that last July 21, 2022, the CA’s Fourteenth Division reversed and set aside the April 30, 2018 and July 14, 2020 resolutions of the DOJ, dismissing the complaint filed by model Deniece Cornejo in 2014 against Navarro for alleged rape and attempted rape. The CA held that the DOJ should have allowed the trial court to decide on the merit of Cornejo’s claim and Navarro’s counterclaim. Thus, the appellate court directed the Office of the City Prosecutor of Taguig City to file information against Navarro for rape by sexual intercourse under Article 266-A of the Revised Penal Code (RPC), as amended by Republic Act No. 8353 and acts of lasciviousness, instead of attempted rape. It said that it would be up to the court to determine during a proper trial on who is telling the truth.

It added that it was “erroneous” for the DOJ to junk Cornejo’s petition for review of its assailed resolution on the ground that her statements in the complaint-affidavits are inconsistent and incredible. “Given the peculiar nature of rape, it almost always presents a ‘he said, she said’ scenario which leaves the trial court the task to decide whom between the private complainant or the accused should it believe,” the CA said. “Issues of credibility should be adjudged during the trial proper. It goes without saying that it is the trial court that has the unique power and position to observe the witnesses’ deportment, manner of testifying, emphasis, gesture, and inflection of the voice, all of which are potent aids in ascertaining the witnesses’ credibility,” the CA said. Lawyer Ferdinand Topacio, of the Citizens’ Crime Watch (CCW) and former lawyer of Cornejo, welcomed the CA’s decision and assured that the CCW will continue to support her bid to get justice. “We in the Citizens’ Crime Watch have never wavered in our belief that Ms. Cornejo was the innocent party, and that she was a victim two times over: first, of sexual assault, and later by trial by publicity wherein she was painted as the culprit, and Mr. Navarro as the innocent victim. Mercifully, after all these years, such doublespeak was proven untrue, and Ms. Cornejo now stands vindicated,” Topacio said.

hazardous chemical in Davao City river

AVAO CITY—The City Disaster Risk Reduction and Management Office (CDRRMO) rang the alarm bells late Monday when a tanker truck spilled its chemical cargo into a river where it fell from a highway in a northern village here. The Philippine Information Agency said the CDRRMO reported the accident on Tuesday several hours after a tanker truck spilled the caustic soda content when it accidentally fell into a highway cliff down to river below in Barangay Suawan in Marilog. Marilog is 38 kilometers northwest of downtown Davao. The accident happened on late night of Monday. The CDRRMO said one person was killed and one was injured as a result of the accident. The volume of the chemical of the chemical that spilled into the river cannot be ascertained as of this writing, but a tanker truck has an average capacity ranging from 2,000 gallons to 4,000 gallons. The CDRRMO has already warned all barangays along the tributary of the Davao River and along the Suawan River to alert their residents to stay away from water activities like swimming and bathing as a precaution to avoid being in contact with the harmful chemical. Manuel T. Cayon

A10 Wednesday, August 3, 2022

TheWorld BusinessMirror

Biden: Killing of al-Qaida leader in Kabul is long-sought ‘justice’ By Matthew Lee, Nomaan Merchant & Aamer Madhani

The Associated Press

ASHINGTON—President Joe Biden announced Monday that al-Qaida leader Ayman al-Zawahiri was killed in a US drone strike in Kabul, an operation he said delivered justice and hopefully “one more measure of closure” to families of the victims of the September 11, 2001 attacks on the United States. The president said in an evening address from the White House that US intelligence officials tracked alZawahiri to a home in downtown Kabul where he was hiding out with his family. The president approved the operation last week and it was carried out Sunday. A l-Zawahiri and the betterknown Osama bin Laden plotted the 9/11 attacks that brought many ordinar y A mericans their first knowledge of al-Qaida. Bin Laden was killed in Pakistan on May 2, 2011, in operation carried out by US Navy SEALs after a nearly decadelong hunt. As for Al-Zawahiri, Biden said, “He will never again, never again, allow Afghanistan to become a terrorist safe haven because he is gone and we’re going to make sure that nothing else happens.” “This terrorist leader is no more,” he added. The operation is a significant counterterrorism win for the Biden administration just 11 months after American troops left the country after a two-decade war. The strike was carried out by the CIA, according to five people familiar with the matter who spoke on the condition of anonymity. Neither Biden nor the White House detailed the CIA’s involvement in the strike. Biden, however, paid tribute to the US intelligence community in his remarks, noting that “thanks to their extraordinary persistence and skill” the operation was a success. Al-Zawahiri’s death eliminates the figure that more than anyone shaped al-Qaida, first as bin Laden’s deputy since 1998, then as his successor. Together, he and bin Laden turned the jihadi movement’s guns to target the United States, carrying out the deadliest attack ever on American soil—the Sept. 11 suicide hijackings. The house Al-Zawahiri was in when he was killed was owned by a top aide to senior Taliban leader Sirajuddin Haqqani, according to a senior intelligence official. The official also added that a CIA ground team and aerial reconnaissance conducted after the drone strike confirmed al-Zawahiri’s death. A senior administration official who briefed reporters on the operation on condition of anonymity said “zero” US personnel were in Kabul. Over the 20-year war in Afghanistan, the US targeted and splintered al-Qaida, sending leaders into hiding. But America’s exit from Afghanistan last September gave the extremist group the opportunity to rebuild. US military officials, including Gen. Mark Milley, chairman of the Joint Chiefs of Staff, have said alQaida was trying to reconstitute in Afghanistan, where it faced limited threats from the nowruling Taliban. Militar y leaders have warned that the group still aspired to attack the US.

After his killing, the White House underscored that al-Zawahiri had continued to be a dangerous figure. The senior administration official said al-Zawahiri had continued to “provide strategic direction,” including urging attacks on the US, while in hiding. He had also prioritized to members of the terror network that the United States remained al-Qaida’s “primary enemy,” the official said. The 2001 attacks on the World Trade Center and Pentagon made bin Laden America’s Enemy No. 1. But he likely could never have carried it out without his deputy. Bin Laden provided al-Qaida with charisma and money, but al-Zawahiri brought tactics and organizational skills needed to forge militants into a network of cells in countries around the world. US intelligence officials have been aware for years of a network helping al-Zawahiri dodge US intelligence officials hunting for him, but didn’t have a bead on his possible location until recent months. Earlier this year, US officials learned that the terror leader’s wife, daughter and her children had relocated to a safe house in Kabul, according to the senior administration official who briefed reporters. Officia ls eventually lear ned al-Zawahiri was also at the Kabul safe house. In early April, White House deputy national security adviser Jon Finer and Biden’s homeland security adviser Elizabeth Sherwood-Randall were briefed on this developing intelligence. Soon the intelligence was carried up to national security adviser Jake Sullivan. Sullivan brought the information to Biden as US intelligence officials built “a pattern of life through multiple independent sources of information to inform the operation,” the official said. Senior Taliban figures were aware of al-Zawahiri’s presence in Kabul, according to the official, who added the Taliban government was given no forewarning of the operation. Inside the Biden administration, only a small group of officials at key agencies, as well as Vice President Kamala Harris, were brought into the process. Through May and June, Biden was updated several times on the growing mound of intelligence that confirmed al-Zawahiri was hiding out in the home. Over the last few weeks, Biden brought together several Cabinet officials and key national security officials to scrutinize the intelligence findings. On July 1, Biden was briefed in the Situation Room about the planned operation, a briefing in which the president closely examined a scale model of the home Zawahiri was hiding out in. He gave his final approval for the operation on Thursday. Al-Zawahiri was on the balcony of his hideout on Sunday when two Hellfire missiles were

PRESIDENT Joe Biden speaks from the Blue Room Balcony of the White House on Monday, August 1, 2022, in Washington, as he announces that a US airstrike killed al-Qaida leader Ayman al-Zawahri in Afghanistan. JIM WATSON/POOL VIA AP

launched from an unmanned drone, killing him. Al-Zawahiri’s family was in another part of the house when the operation was carried out, and no one else was believed to have been killed in the operation, the official said. “We make it clear again tonight: That no matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out,” Biden said. Al-Zawahiri was hardly a household name like bin Laden, but he played an enormous role in the terror group’s operations. The two terror leaders’ bond was forged in the late 1980s, when al-Zawahiri reportedly treated the Saudi millionaire bin Laden in the caves of Afghanistan as Soviet bombardment shook the mountains around them. Al-Zawahiri, on the FBI’s Most Wanted Terrorist list, had a $25 million bounty on his head for any information that could be used to kill or capture him. Al-Zawahiri and bin Laden plotted the 9/11 attacks that brought many ordinary Americans their first knowledge of al-Qaida. Photos from the time often showed the glasses-wearing, mildlooking Egyptian doctor sitting by the side of bin Laden. Al-Zawahiri had merged his group of Egyptian militants with bin Laden’s al-Qaida in the 1990s. “The strong contingent of Egyptians applied organizational knowhow, financial expertise, and military experience to wage a violent jihad against leaders whom the fighters considered to be un-Islamic and their patrons, especially the United States,” Steven A. Cook wrote for the Council on Foreign Relations last year. When the 2001 US invasion of Afghanistan demolished al-Qaida’s safe haven and scattered, killed and captured its members, al-Zawahiri ensured al-Qaida’s survival. He rebuilt its leadership in the AfghanPakistan border region and installed allies as lieutenants in key positions. He also reshaped the organization from a centralized planner of terror attacks into the head of a franchise chain. He led the assembling of a network of autonomous branches around the region, including in Iraq, Saudi Arabia, North Africa, Somalia, Yemen and Asia. Over the next decade, al-Qaida inspired or had a direct hand in attacks in all those areas as well as Europe, Pakistan and Turkey, including the 2004 train bombings in Madrid and the 2005 transit bombings in London. More recently, the al-Qaida affiliate in Yemen proved itself capable of plotting attacks against US soil with an attempted 2009 bombing of an American passenger jet and an attempted package bomb the following year. But even before bin Laden’s

death, al-Zawahiri was struggling to maintain al-Qaida’s relevance in a changing Middle East. He tried with little success to coopt the wave of uprisings that spread across the Arab world starting in 2011, urging Islamic hardliners to take over in the nations where leaders had fallen. But while Islamists gained prominence in many places, they have stark ideological differences with al-Qaida and reject its agenda and leadership. Nevertheless, al-Zawahiri tried to pose as the Arab Spring’s leader. America “is facing an Islamic nation that is in revolt, having risen from its lethargy to a renaissance of jihad,” he said in a video eulogy to bin Laden, wearing a white robe and turban with an assault rifle leaning on a wall behind him. Al-Zawahiri was also a more divisive figure than his predecessor. Many militants described the softspoken bin Laden in adoring and almost spiritual terms. In contrast, al-Zawahiri was notoriously prickly and pedantic. He picked ideological fights with critics within the jihadi camp, wagging his finger scoldingly in his videos. Even some key figures in al-Qaida’s central leadership were put off, calling him overly controlling, secretive and divisive. Some militants whose association with bin Laden predated alZawahiri’s always saw him as an arrogant intruder. “I have never taken orders from al-Zawahiri,” Fazul Abdullah Mohammed, one of the network’s top figures in East Africa until his 2011 death, sneered in a memoir posted on line in 2009. “We don’t take orders from anyone but our historical leadership.” There had been rumors of alZawahiri’s death on and off for several years. But a video surfaced in April of the al-Qaida leader praising an Indian Muslim woman who had defied a ban on wearing a hijab, or headscarf. That footage was the first proof in months that he was still alive. A statement from Afghanistan’s Taliban government confirmed the airstrike, but did not mention alZawahiri or any other casualties. It said the Taliban “strongly condemns this attack and calls it a clear violation of international principles and the Doha Agreement,” the 2020 US pact with the Taliban that led to the withdrawal of American forces. “Such actions are a repetition of the failed experiences of the past 20 years and are against the interests of the United States of America, Afghanistan, and the region,” the statement said. The Associated Press writers Lolita C. Baldor, Ellen Knickmeyer, Zeke Miller, James LaPorta, Michael Balsamo and Darlene Superville in Washington; Rahim Faiez in Islamabad; and Lee Keath in Cairo contributed reporting.

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

Myanmar violence and Ukraine war seen looming over Asean meetings By David Rising

The Associated Press

HNOM PENH, Cambodia—Southeast Asian foreign ministers are gathering in the Cambodian capital for meetings addressing persisting violence in Myanmar and other issues, joined by top diplomats from the United States, China, Russia and other world powers amid tensions over the invasion of Ukraine and concerns over Beijing’s growing ambitions in the region. The meeting in Phnom Penh of the Association of Southeast Asian Nations will see US Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov together at the same venue for the second time in a month, though it’s not clear whether the two will meet. The two did not meet separately when they both attended the Group of 20 foreign ministers’ meeting in Bali, Indonesia, in early July. But they had their first direct contact since before Russia invaded Ukraine in a phone call Friday, when Blinken urged Moscow to accept a deal to release American detainees Brittney Griner and Paul Whelan and discussed other issues. Also attending is Chinese Foreign Minister Wang Yi. Many have urged Beijing to use its partnership with Russia to push for an end to the conflict in Ukraine and to help promote peace and a return to civilian rule in Myanmar after a February 2021 coup sparked mass protests and an armed resistance. The meetings come at a time of tension between Washington and Beijing as the US pushes back against China’s growing economic and military influence in the Asia-Pacific. US House Speaker Nancy Pelosi is touring the region and may visit Taiwan. That has heightened friction further, with Chinese Foreign Ministry spokesperson Zhao Lijian cautioning last week that “those who play with fire will perish by it.” Communist-ruled China considers Taiwan its own territory, and has said it might reclaim the island by force if it deems it necessary. The US follows a “one China” policy in which it recognizes Beijing as the government of China yet maintains informal relations and defense ties with Taiwan. In a call last week with US President Joe Biden, Chinese leader Xi Jinping objected to the possibility of a Pelosi stop, which would be the highest-level US visit to Taiwan in more than 25 years. The Russian invasion of Ukraine, its impact on global food and energy prices and escalating China-US friction are of high concern for the 10 Asean members, said Susannah Patton, director of the Southeast Asia Program for Australia’s Lowy Institute. “This is one of the first regional meetings of foreign ministers to have been held in person since 2019, so for the United States, China and even Russia, meetings like this are a really important opportunity to demonstrate their support for Asean and present their own narratives about their commitment to regional security and prosperity,” she said. Blinken, Wang and Lavrov have all been

jockeying for influence recently in multiple foreign trips. Following the meetings, Blinken heads to the Philippines and then on to Africa. Biden hosted Asean leaders at the White House in May at the group’s first-ever summit in Washington. During those meetings, Biden announced he was nominating one of his top national security aides as ambassador to the group, underscoring the Asia-Pacific region’s importance to the US. Most recently, Lavrov has focused on Africa, while Wang visited multiple Pacific islands in May and made a five-nation swing through Southeast Asia last month. During that trip, he said China was speeding up talks with Asean, which includes four countries that are in dispute with Beijing over territorial claims in the South China Sea, to come up with a nonaggression pact called a “code of conduct” to turn the body of water “into a sea of peace and cooperation.” The Asean meetings also bring together some countries that have, or are negotiating, partnerships with Asean, including India, Japan, South Korea, Turkey, Qatar, the United Arab Emirates, Oman, Britain, Australia, New Zealand and Canada. Australia, in particular, has highlighted the importance of the Asean nations, with Foreign Minister Penny Wong saying last month that they should see new alliances, including the “Quad” group of Australia, US, India and New Japan and the “AUKUS” group of Australia, the United Kingdom and the US, as beneficial to the region. “Asean centrality means that we will always think about our security in the context of your security,” she said at a forum in Singapore. “We understand deeply the ways in which they are interconnected. We believe that Australia must find its security in Asia, not from Asia, and that means, above all, in Southeast Asia.” Myanmar, where the military ousted the democratically elected government of Aung San Suu Kyi in February 2021, is a member of the 10-nation Asean group. It is not sending any delegates after other members decided no Myanmar political representatives could attend. Escalating violence in the country is prominent on the Asean agenda as it struggles to implement a five-point consensus it reached on Myanmar last year. It calls for dialogue among all concerned parties, providing humanitarian assistance, an immediate end to violence and a visit by a special Asean envoy to meet with all parties. Suu Kyi’s ouster triggered widespread peaceful protests that were violently suppressed. They have evolved into an armed resistance and the country has slipped into what some UN experts characterize as a civil war.

The Associated Press journalists Matthew Lee in Washington, D.C.; Eileen Ng in Kuala Lumpur, Malaysia; Niniek Karmini in Jakarta, Indonesia; Jim Gomez in Manila, Philippines; and Rod McGuirk in Canberra, Australia, contributed to this story.

China’s Covid outbreak stabilizes as Shanghai infections hold at zero

HINA’S latest Covid-19 outbreak has stabilized, with cases in Shanghai holding at zero for the second day in a row and the flareup in Shenzhen seemingly under control. Nationwide, 373 cases were recorded Monday. While up from Sunday’s near threeweek low of 277, it’s still well down from the peak of 935 infections two weeks ago. Large companies in Shenzhen are exiting the so-called closed-loop management systems that have been in place for about a week as Covid cases in the Chinese technology hub ease. The city posted just one case for Monday, while the capital, Beijing, recorded no cases. With transmission mostly contained, the tightly controlled system mandated by the Shenzhen government to allow continued operations for its 100 biggest companies—including Foxconn Technology Group and oil producer Cnooc Ltd.—ended on Saturday and wasn’t renewed, according to people familiar with the order, who asked to remain unnamed.

Among China’s top 50 cities by economic size, only Chengdu has widespread restrictions in place for most of its districts as it remains vigilant even as infections drop. Most entertainment venues are shut, with public transport suspended in some areas. China’s adherence to the Covid Zero strategy, which requires mass testing, snap lockdowns and travel restrictions, has exacted a heavy economic and social toll. The economy weakened further in July amid a resurgence in Covid outbreaks, China Beige Book International said Monday. Factory output and new orders slowed to a pace not seen since the middle of 2020, and retail sector employment was the worst in more than two years, according to the latest survey from CBBI. President Xi Jinping has made zero tolerance for Covid a hallmark of his rule, saying the country won’t pursue “herd immunity” like other nations because it would exact too much of a toll, particularly on China’s elderly, who have lower vaccination rates. Bloomberg News

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Wednesday, August 3, 2022 A11

Pelosi arrives in Malaysia amid rising tensions over Taiwan visit By Eileen Ng

A LAUNCH truck fires the High Mobility Artillery Rocket System (HIMARS) at its intended target during the African Lion military exercise in Grier Labouihi complex, southern Morocco, on June 9, 2021. Ukraine has received about a dozen American-built HIMARS multiple rocket launchers and has used them to strike Russian ammunition depots, which are essential for maintaining Moscow’s edge in firepower. AP/MOSA’AB ELSHAMY

Ukraine escalates attacks to retake south, tying down Russian forces By The Associated Press

VEN as Moscow’s war machine crawls across Ukraine’s east, trying to achieve the Kremlin’s goal of securing full control over the country’s industrial heartland, Ukrainian forces are scaling up attacks to reclaim territory in the Russian-occupied south. The Ukrainians have used American-supplied rocket launchers to strike bridges and military infrastructure in the south, forcing Russia to divert its forces from the Donbas in the east to counter the new threat. With the war in Ukraine now in its sixth month, the coming weeks may prove decisive. While the bulk of Russian and Ukrainian military assets are concentrated in the Donbas, the industrial region of mines and factories, both sides hope to make gains elsewhere. Ukraine has vowed to drive the Russians from the territory they have seized since the start of the invasion, including the southern region of Kherson and part of the Zaporizhzhia region, while Moscow has pledged to hold on to the occupied areas and take more ground around the country. The Donbas consists of Luhansk province, now fully controlled by Russia, and Donetsk province, about half of which is in Moscow’s hands. Ukrainian military analyst Oleh Zhdanov noted that by stepping up the attacks in the south, Kyiv has forced Russia to spread its forces. “The Russian military command has been put before a dilemma: to try to press the offensive in the Donetsk region or build up defenses in the south,” Zhdanov said. “It’s going to be difficult for them to perform both tasks simultaneously for a long time.” He noted that rather than trying to mount a massive, all-out counteroffensive, the Ukrainians have sought to undermine the Russian military in the south with a series of strikes on its munitions and fuel depots and other key sites. “It doesn’t have to be a head-on attack,” Zhdanov noted. Moscow-backed local officials in Ukraine’s east and south have talked about holding votes on joining Russia as early as September. Those plans hinge on Russia’s ability to win full control of those areas by then. “The Kremlin’s chief goal is to force Kyiv to sit down for talks, secure the existing line of contact and hold referenda in the autumn,” said Mykola Sunhurovsky, of the Razumkov Center, a Kyiv-based think tank. He noted that Western weapons have boosted Ukraine’s capabilities, allowing it to reach targets far behind the front lines with a high degree of precision. Ukraine has received about a dozen American-built HIMARS multiple rocket launchers and has used them to strike Russian ammunition depots, which are essential for maintaining Moscow’s edge in firepower. HIMARS systems have a range of 80 kilometers (50 miles), enabling the Ukrainians to hit the Russians from beyond the reach of most of the enemy’s artillery. “It’s a serious advantage,” Sunhurovsky said. “The Ukrainians have started dealing precision strikes on Russian depots, command posts, railway stations and bridges, destroying logistical chains and undermining the Russian military capability.” The Ukrainian strikes on munitions storage sites have caught the Russian army off guard, forcing it to move materiel to scattered locations farther from combat areas, lengthening supply lines, reducing the Russian edge in firepower and helping to slow Russia’s offensive in the east. “They’ve got to get everything out to smaller, more dispersed stockpiles,” said Justin Crump, a former British tank commander who heads Sibylline, a strategic advisory firm. “These are all real irritants that slow Russia down. They’ve suffered the hit to the tempo of artillery fire, which was really key before.” Crump said the Russian military had underestimated the threat posed by HIMARS and had left their ammunition depots exposed in known locations. “They thought their air defense would shoot down the missiles. And it didn’t really,” he said. In a series of attacks that helped boost the country’s morale, the Ukrainians repeatedly used HIMARS to strike a key bridge across the Dnieper River in the Kherson region, cutting traffic across it and raising potential supply problems for Russian forces in the area. Zhdanov, the Ukrainian military analyst, described the bridge as the key link for supplying Russian forces on the right bank of the Dnieper. Russia still can use a second crossing on the Dnieper to ferry supplies and reinforcements to its troops in Kherson, which lies just north of the Crimean Peninsula, seized by Russia in 2014. But Ukraine’s strikes have shown Russia’s vulnerability and weakened its hold on the region. “The Russians have the river at their back. That’s not a great place to be defending,” Crump said. “They can’t get supplies easily. The morale is probably quite low at this point on that side of the river.” He said Ukraine eventually may launch a massive counterattack involving large numbers of troops and weapons. “That’s the opportunity for Ukraine, I think, to land a sort of more smashing blow on the Russians and push them back,” Crump said. “I think there’s more chance of that being tried here than we’ve seen at any other point.” Crump noted that the mere prospect of a major Ukrainian counteroffensive in the south helped Kyiv by forcing the Russians to divert some of their forces from the main battleground in the east. “That’s slowing down the Donbas offensive,” Crump said. “So even the threat of an offensive is actually succeeding for Ukraine at the moment.”

Danica Kirka in London and Yuras Karmanau in Tallinn, Estonia, contributed to this report.

The Associated Press

UALA LUMPUR, Malaysia— US House Speaker Nancy Pelosi arrived in Malaysia on Tuesday for the second leg of an Asian tour that has been overshadowed by an expected stop in Taiwan, which would escalate tensions with Beijing that claims the self-ruled island as its own territory. The plane carrying Pelosi and her delegation touched down at an air force base amid tight security. She called on lower house Speaker Azhar Azizan Harun in Parliament and adjourned for a luncheon meet with Prime Minister Ismail Sabri Yaakob. While there have been no official announcements, local media in Taiwan reported that Pelosi will arrive in Taipei on Tuesday night, becoming the highest-ranking elected US official to visit in more than 25 years. The United Daily News, Liberty Times and China Times—Taiwan’s three largest national newspapers— cited unidentified sources as saying she would fly to Taipei and spend the night after visiting Malaysia. China, which regards Taiwan as a renegade province to be annexed by force if necessary, has warned of repercussions, saying its military will “never sit idly by” if Pelosi pushes ahead with the visit. China’s threats of retaliation have driven concerns of a new crisis in the Taiwan Strait, which separates the two sides, that could roil global markets and supply chains. The White House on Monday decried Beijing’s rhetoric, saying the US has no interest in deepening tensions with China and “will not take the bait or engage in saber rattling.” White House National Security

Council spokesperson John Kirby underscored that the decision on whether to visit the self-ruled island was ultimately Pelosi’s. He noted that members of Congress have routinely visited Taiwan over the years. Kirby said administration officials are concerned that Beijing could use the visit as an excuse to take provocative retaliatory steps, including military action such as firing missiles in the Taiwan Strait or around Taiwan, or flying sorties into the island’s airspace and carrying out large-scale naval exercises in the strait. “Put simply, there is no reason for Beijing to turn a potential visit consistent with long-standing US policy into some sort of crisis or use it as a pretext to increase aggressive military activity in or around the Taiwan Strait,” Kirby said. US Secretary of State Antony Blinken also urged China to “act responsibly” in the event that Pelosi proceeds with the visit. “If the speaker does decide to visit, and China tries to create some kind of a crisis or otherwise escalate tensions, that would be entirely on Beijing,” he told reporters at UN headquarters in New York. “We are looking for them, in the event she decides to visit, to act responsibly and not to engage in any escalation going forward.”

THIS handout photo taken and released by Malaysia’s Department of Information, US House Speaker Nancy Pelosi, center, waves to media as she tours the parliament house in Kuala Lumpur on Tuesday, August 2, 2022. Pelosi arrived in Malaysia on Tuesday for the second leg of an Asian tour that has been clouded by an expected stop in Taiwan, which would escalate tensions with Beijing. MALAYSIA’S DEPARTMENT OF INFORMATION VIA AP Taiwan and China split in 1949 after the Communists won a civil war on the mainland. The U.S. maintains informal relations and defense ties with Taiwan even as it recognizes Beijing as the government of China. Beijing sees official American contact with Taiwan as encouragement to make the island’s decadesold de facto independence permanent, a step US leaders say they don’t support. Pelosi, head of one of three branches of the US government, would be the highest-ranking elected American official to visit Taiwan since then-Speaker Newt Gingrich in 1997. Pelosi kicked off her Asian tour in Singapore on Monday but her purported visit to Taiwan has sparked jitters in the region. Singapore Prime Minister Lee Hsien Loong “highlighted the importance of stable US-China relations for regional peace and security” during talks with Pelosi, the city-state’s foreign ministry said. This was echoed by Japan’s Foreign Minister Yoshimasa Hayashi in Tokyo, who said stable ties between the two rival powers “are extremely important for the international

community as well.” The Philippines urged US and China to be “responsible actors” in the region. “It is important for the US and China to ensure continuing communication to avoid any miscalculation and further escalation of tensions,” said Foreign Affairs spokesperson Teresita Daza. China has been steadily ratcheting up diplomatic and military pressure on Taiwan. China cut off all contact with Taiwan’s government in 2016 after President Tsai Ing-wen refused to endorse its claim that the island and mainland together make up a single Chinese nation, with the Communist regime in Beijing being the sole legitimate government. On Thursday, Pelosi is to meet with South Korean National Assembly Speaker Kim Jin Pyo in Seoul for talks on security in the Indo-Pacific region, economic cooperation and the climate crisis, according to Kim’s office. Pelosi is also due to visit Japan, but it is unclear when she is heading there. The Associated Press journalists Jim Gomez in Manila, Philippines, and Mari Yamaguchi in Tokyo contributed to this report.

First ship carrying Ukrainian grain leaves the port of Odesa By Susie Blann & Suzan Fraser The Associated Press

YIV, Ukraine—The first ship carrying Ukrainian grain set out Monday from the port of Odesa under an internationally brokered deal to unblock the embattled country’s agricultural exports and ease the growing global food crisis. The Sierra Leone-flagged cargo ship Razoni sounded its horn as it slowly departed with over 26,000 tons of corn destined for Lebanon. “The first grain ship since Russian aggression has left port,” Ukrainian Minister of Infrastructure Oleksandr Kubrakov declared on Twitter. Russia and Ukraine signed agreements in Istanbul with Turkey and the UN on July 22, clearing the way for Ukraine to export 22 million tons of grain and other agricultural products that have been stuck in Black Sea ports because of Russia’s invasion of Ukraine more than five months ago. The deals also allow Russia to export grain and fertilizer. As part of the agreements, safe corridors through the mined waters outside Ukraine’s ports were established. Ukraine and Russia are major global suppliers of wheat, barley, corn and sunflower oil, with the fertile Black Sea region long known as the breadbasket of Europe. The holdup of food shipments because of the war has worsened rising food prices worldwide and threatened hunger and political instability in developing nations. “Today Ukraine, together with partners, takes another step to prevent world hunger,” Kubrakov said. In Moscow, Kremlin spokesman Dmitry Peskov hailed the ship’s departure as “very positive,” saying it would help test the “efficiency of the mechanisms that were

THE bulk carrier Razoni starts its way from the port in Odesa, Ukraine on Monday, August 1, 2022. According to Ukraine’s Ministry of Infrastructure, the ship under Sierra Leone’s flag is carrying 26,000 tons of Ukrainian corn to Lebanon. The first ship carrying Ukrainian grain set off from the port of Odesa on Monday under an internationally brokered deal and is expected to reach Istanbul on Tuesday, where it will be inspected, before being allowed to proceed. AP/MICHAEL SHTEKEL

agreed to during the talks in Istanbul.” Under the agreements, ships going in and out of Ukrainian ports will be subject to inspection to make sure that incoming vessels are not carrying weapons and that outgoing ones are bearing only grain, fertilizer or related food items, not any other commodities. The Razoni was expected to dock early Wednesday in Istanbul, where teams of Russian, Ukrainian, Turkish and UN officials were set to board it for inspection. More ships are expected to leave from Ukraine’s ports through the safe corridors. At Odesa, 16 more vessels, all blocked since Russia’s invasion on February 24, were waiting their turn, with others to follow, Ukrainian authorities said. But some shipping companies are not yet rushing to export food across the Black Sea as they assess the danger of mines and the risk of Russian rockets hitting grain warehouses and ports. UN Secretary-General Antonio Guterres, who proposed the grain deal in April, said the Razoni was “loaded with two commodities in short supply: corn and hope.” “Hope for millions of people around the world who depend on the smooth running of Ukraine’s ports to feed their families,” he said. In an interview with Turkey’s state-run

Anadolu Agency, Turkish Defense Minister Hulusi Akar warned that the global food crisis threatens to trigger “a serious wave of migration from Africa to Europe and to Turkey.” Lebanon, the corn’s destination, is in the grip of a severe financial crisis. A 2020 explosion at its main port in Beirut shattered its capital city and destroyed grain silos. Lebanon mostly imports wheat from Ukraine but also buys its corn to make cooking oil and produce animal feed. Kubrakov said the shipments will also help Ukraine’s war-shattered economy. “Unlocking ports will provide at least $1 billion in foreign exchange revenue to the economy and an opportunity for the agricultural sector to plan for next year,” he said. Hearing the ship sound its horn as it left port delighted Olena Vitalievna, an Odesa resident. “Finally, life begins to move forward and there are some changes in a positive direction,” she said. “In general, the port should live its own life because Odesa is a port city. We live here. We want everything to work for us, everything to bustle.” Yet the resumption of the grain shipments came as fighting raged elsewhere in Ukraine, with Russia pressing its offensive in the east

while Ukraine tries to retake territory in the Russian-occupied south. Ukraine’s presidential office said at least three civilians were killed and 16 wounded by Russian shelling in the Donetsk region over the past 24 hours. Donetsk Gov. Pavlo Kyrylenko repeated a call for all residents to evacuate, emphasizing the need to remove about 52,000 children still in the region. In Kharkiv, two people were wounded by a Russian strike in the morning. One was struck while waiting for a bus, the other when a Russian shell exploded near an apartment building. The southern city of Mykolaiv also faced shelling that ruined a building at a hospital and damaged ambulances, according to regional Gov. Vitaliy Kim. Three civilians were wounded elsewhere in the city, he said. Soon after the grain shipment deal was signed, a Russian missile targeted Odesa. Analysts warned that the continuing fighting could still upend the grain deal. “The departure of the first vessel doesn’t solve the food crisis; it’s just the first step that could also be the last if Russia decides to continue attacks in the south,” said Volodymyr Sidenko, an expert with the Kyiv-based Razumkov Center think tank. In other developments, Russia announced sanctions against dozens of British public figures, accusing them of supporting the “demonization” and international isolation of Moscow. The 39 politicians, businesspeople and journalists barred from entering Russia include former Prime Minister David Cameron, senior government ministers, and columnists for newspapers including The Times and The Guardian.

Fraser reported from Ankara, Turkey. Jon Gambrell in Dubai contributed.

A12 Wednesday, August 3, 2022 • Editor: Angel R. Calso

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Sweetening the pot for our salt industry

alt—called sodium chloride by chemists—has been an important and integral part of the world’s history, interwoven into countless civilizations. Roman soldiers, for example, were given special salt rations known as “salarium argentum,” the forerunner of the English word “salary.” The first Native Americans “discovered” by Europeans in the Caribbean were harvesting sea salt. When the major European fishing fleets discovered the Grand Banks of Newfoundland at the end of the 15th century, the Portuguese and Spanish fleets used the “wet” method of salting their fish onboard, while the French and English fleets used the “dry” or “shore” salting method of drying their catch on racks onshore. Due to this early food processing, French and British fishermen became the first European inhabitants of North America since the Vikings a half-century earlier. Had it not been for the practice of salting fish, Europeans might have confined their fishing to the coasts of Europe and delayed “discovery” of the New World. In the modern world, a number of industries would not exist without salt. The food processing industry, for one, uses salt extensively to create a number of products. Aside from preserving food, salt is also used in the manufacture of baking soda, chlorine and other chemicals. The Philippines used to produce salt in huge quantities until the 1990s. Citing a report published by Pacific Farms Inc., the Department of Science and Technology in Region 4-B said provinces like Bulacan, Pangasinan, Occidental Mindoro and Cavite supplied almost 85 percent of the country’s salt requirement in 1990. In less than a decade, output would shrink and the country would eventually rely on foreign producers for its salt requirements. What doomed the local salt industry, the DOST said, is the seasonal pattern change due to climate change and producers’ reliance on age-old production methods. As challenges became insurmountable and made salt farming less attractive, large producers were forced to shut down their farms or convert their areas into other profitable ventures, such as fishponds, residential or commercial properties. The Philippines, which has the fifth largest shoreline in the world, imports around 80 percent of its salt requirements from countries like Australia and China (See, “Occidental Mindoro boosting salt industry through new tech,” in the BusinessMirror, May 28, 2017). Our reliance on imported essential items, such as salt, means that the country is compensating foreign producers for things that can be produced locally. Data from the Department of Trade and Industry showed that the value of the country’s salt imports in 2020 and 2021 reached $55.32 million or P3.04 billion at the current exchange rate. The amount spent by the Philippines to import salt in 2020 and 2021 is enough to support the livelihood of thousands of local producers. However, reviving the salt industry would require serious effort on the part of policymakers. It would entail making the necessary investments in technology, and capacity building to allow local producers to compete again with foreign suppliers. The Department of Labor and Employment noted that the revival of the local salt industry could create 20,000 direct jobs and 80,000 indirect jobs (See, “DOLE eyes revival of PHL salt-making industry in coastal areas to create jobs,” in the BusinessMirror, June 9, 2022). These salt farms can be set up in areas where many of the rural poor reside. Key to the revival of the industry is access to technology, which will allow farmers to produce salt all year-round even under erratic weather conditions. Aside from allowing farmers to gain access to technology, investors and farmers must also get perks, as proposed by a lawmaker who made a pitch for the set up of an inter-agency body that will craft a plan for the salt industry (See, “Lawmaker wants local salt farmers to get perks,” in the BusinessMirror, July 18, 2022). Reviving the local salt industry would not only allow farmers to improve their income; this will also benefit the manufacturing sector.

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Katips: Historical journey of student activism Dennis Gorecho

Kuwentong Peyups

he Katipunan area, often referred to as “Katips,” is recognized as Quezon City’s university belt and has always been associated with student activism.

Several academic institutions are located around it such as the University of the Philippines Diliman, Ateneo de Manila University, and Miriam College. Katipunan Avenue was named after the revolutionary society founded by Andres Bonifacio, who eventually launched an uprising against the Spanish rule in the Philippines. Green colored “Katips” jeepneys used to ply the route from Aurora Boulevard, entering the UP Campus through Katipunan Avenue, and picking up passengers in front of Vinzon’s Hall. The face-off between Ateneo and UP at the UAAP is also dubbed “Battle of Katipunan.” Katips student activism has always been a potent force in social change. “Katips: The Movie” is a musical drama film produced by Philstagers Films about the struggles of common people who became victims of Martial Law in the 1970s. The film is based on the musical play “Katips: Mga Bagong Katipunero,” originally performed onstage

in 2016, which won Best Musical Performance at the Aliw Awards that year. The film recently bagged seven major awards at the 70th FAMAS Awards Night, including best picture, Vince Tañada as best actor and best director, Johnrey Rivas as best supporting actor, best original song (Sa Gitna ng Gulo), best musical score, and best cinematography. It earlier had 17 nominations in various categories. Tañada said it is “a tale of the young, in their fight for their ideals, [and] how big can one get against a force too much bigger than themselves.” He added that “its sole objective is to convey what really happened in Philippine history. Nobody can ever invalidate the experience of people.” Back in the 1970s, many members of the Katips community participated in protests against the reign of dictator Ferdinand Marcos Sr. Known as First Quarter Storm (FQS), there were demonstrations, protests and marches against the

Marcos administration, mostly organized by students, which took place from January 26 to March 17, 1970. Violent dispersals of ensuing FQS protests were among the watershed events where large numbers of Filipino students of the 1970s were radicalized against the Marcos administration. I was barely two months old when the nine-day uprising called “Diliman Commune” from February 1 to 9, 1971 marked UP’s role as the “bastion of activism.” It was the first-ever display of mass resistance from the UP Diliman community, together with transport workers, in protest of a three-centavo increase in oil prices. Student politics trained Katips denizens for service to the people. The campus molded us to fight for the causes we believe in, trained us for the skills we need to communicate ideas and rally others to effect changes in society. The university teaches what textbooks cannot capture, the state education curriculum avoids, or the military censors erase or prohibit. In the first place, these are institutions with critical eyes on social and historical issues. Katips will be in cinemas at the same time as Maid in Malacañang (MIM), one of whose stars compared history to "chismis." Amid reports that free tickets are being distributed to schools by some business groups, social activist Tess Ang See lamented that the promotion of the MIM in the nation’s schools “is an insult to our schools and students.

It displays total disregard for integrity, and disrespect for the truth and historical facts.” She stressed that “promoting a film that has been judged as a distortion of history by distributing free passes to students is truly appalling. It is tantamount to asking these educational institutions to promote outright lies, falsehoods, and historical distortion.” Life under the dictatorship was deadly for some of those who stood against Marcos. In the case of Mijares vs Ranada (GR 139325 April 12, 2005), the Supreme Court said: “Our martial law experience bore strange unwanted fruits… the colossal damage wrought under the oppressive conditions of the period. The cries of justice for the tortured, the murdered, and the Desaparecidos arouse outrage and sympathy in the hearts of the fairminded, yet the dispensation of the appropriate relief due them cannot be extended through the same caprice or whim that characterized the illwind of martial rule.” In Dizon vs Eduardo (GR L-59118 March 3, 1988), the Court noted that “the martial law imposed in September 1972 by Marcos destroyed in one fell swoop the Philippines’s 75 years of stable democratic traditions and established reputation as the showcase of democracy in Asia.” Peyups is the moniker of the University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@ sapalovelez.com, or call 0917-5025808 or 09088665786.

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Biden team tries to blunt China rage as Pelosi heads for Taiwan By Jenny Leonard, Jordan Fabian & Nancy Cook Bloomberg Opinion

he White House sought to dial back rising tensions with China over House Speaker Nancy Pelosi’s expected visit to Taiwan, insisting the trip doesn’t signal a change in US posture toward the island and urging Beijing to refrain from an aggressive response.

Pelosi is expected to arrive Tuesday at 10:20 p.m. local time via private plane at Songshan Airport, the Liberty Times reported, without specifying how it got the information. The landmark visit would make her the highest-ranking US official to set foot on the island in 25 years. China regards Taiwan as part of its territory and has promised “grave consequences” for Pelosi’s visit. “Put simply, there is no reason for Beijing to turn a potential visit consistent with long-standing US policy into some sort of crisis or conflict or use it as a pretext to increase aggressive military activity,” National Security Council spokesman John Kirby said at a Monday press briefing.

Pelosi is expected to visit Taiwan on Tuesday, according to people familiar with her plans. A meeting with Taiwan’s president, Tsai Ing-Wen, is on Pelosi’s schedule for Wednesday, according to one of the people, although another person said such a meeting is still in flux. The House speaker’s visit not only risks sparking a conflict in the Taiwan Strait but has also created unusual tension between her and President Joe Biden. The two are close political allies, but Pelosi dug in on her travel plans after Biden publicly confirmed she was considering a visit last month and told reporters that the military didn’t think it was a good idea, according to people fa-

miliar with the matter. After administration officials made clear they’d prefer she cancel or delay her Taiwan visit, Pelosi’s team suggested to the White House that she would reconsider if Biden himself publicly asked her not to go. Administration officials were uncertain she would comply, and in the end Biden made no such request in public or private, the people said. Kirby said Monday that Biden did not speak directly with Pelosi about the trip. In a call with Chinese President Xi Jinping last week, Kirby said, Biden emphasized the US separation of powers and said Pelosi makes her own decisions about her travel. Xi warned Biden during a discussion of Taiwan that “whoever plays with fire will get burned,” according to China’s Ministry of Foreign Affairs. Kirby on Monday detailed for the first time possible actions the US expects China could take in response to Pelosi’s trip to the self-governing island, including firing missiles into the Taiwan Strait, launching new

military operations, crossing an unofficial no-fly zone between Taiwan and the mainland and making “spurious” legal claims about the strait. “We will not take the bait or engage in saber rattling,” Kirby said. “At the same time, we will not be intimidated. We will keep operating in the seas and the skies of the Western Pacific as we have for decades.” He said Beijing had engaged in “irresponsible rhetoric” ahead of Pelosi’s trip and that the US government will ensure the speaker’s safety if she visits Taiwan. “There’s just no reason for this to escalate,” Kirby said, a point he repeated at least three times. Pelosi’s office has yet to confirm the visit. Kirby said the White House will know when she lands on the island because she’s flying on a military aircraft. Under the agreement reached in 1978 to normalize relations between China and the US, Washington agreed to recognize only Beijing as the seat of China’s government, while See “Biden,” A13

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What is your ‘household risk’ for Covid-19 Omicron BA.5?

Opinion BusinessMirror

Liza Araneta-Marcos: Our First Lady

By Dr. Susan Mercado

Manny F. Dooc

sk anyone who has caught Covid-19 in recent weeks about how they got it. They are likely to say “it entered my household.” They will also tell you that some had “mild” or no symptoms, and others in the family were incapacitated for a few days and continued to have symptoms way over the 7-day isolation. We sighed with relief when we found out that Omicron BA.5 results in less “severe” symptoms compared to the other variants—however, it is highly transmissible. While that sounded better, in reality what has happened is that people have been programmed to think less about what could happen to their families, and more about their individual risk. Using the principle of “individual risk” is a Western notion in public health prevention. This is probably because Western societies are individualistic. Western public health prevention programs—that we tend to copy—focus on what “a person should do” to stay healthy. But in our context in Asia and the Pacific, prevention must be grounded in collective action and “taking care of each other”—rather than just “taking care of myself.” This is why approaches to public health prevention that rely on the principles of “individual behavior change” have not resulted in better public health outcomes for the wicked public health challenges of the Philippines today. Take tuberculosis, for example. We have at least a million active cases every year, with about 70 deaths every day. We have gotten to this disastrous level of tuberculosis using an individual risk approach. When we diagnose one person with tuberculosis, shouldn’t our health teams check the whole family, look at household ventilation and nutrition, even check the workplace? No, we just treat the individual patients— and send them back to the conditions that made them sick in the first place. Take hypertension as another example. A fourth of the adult population, possibly 17 million Filipinos are hypertensive. This does not include 32 percent of those with hypertension who drop dead without knowing their blood pressure. Then there are the five million Filipinos who know they have hypertension—but take no medications. The yearly deaths from heart attack are estimated at 100,000, which translates to roughly 274 deaths per day. When we have a death from a heart attack, shouldn’t we be taking everyone’s blood pressure in the family? Should we not be educating entire households about reducing salt and fat in the family meals? Should we not be encouraging household physical activity and recreation in groups? Against this backdrop of co-morbidities from tuberculosis and hypertension alone—not to mention diabetes, metabolic syndrome, asthma, cancer and the like—should we not be educating our people about household risk to Covid-19? A big and resounding yes to minimum public health standards—mask wearing, social distancing, staying home when one is sick, hand washing. We already know that. But we need a household risk approach in our public health communication for Omicron BA.5 because of its high transmissibility. Families need to understand their “household risk” and take care of each other, because of the co-morbidities that run into millions, and the presence of seniors in the home who are unvaccinated and at risk because of their age, and when there are children below the age of 6 years—as Dr. John Wong of Epimetrics has recently reported—who have higher severe Covid and death rates compared to other age groups of children. In 2021, WHO published guidelines on family approach—but in the context of Asia and the Pacific and its many

Biden. . .

continued from A12

acknowledging—but not endorsing —the Chinese position that there is but one China and Taiwan is part of China. The US has insisted that any unification between the island and mainland must be peaceful, and

informal settlements and poor housing conditions where multiple families live under one roof—a household approach is more appropriate.What are your household risks for Covid-19 when the variant is highly transmissible? The more of these you have in your living quarters, the greater your household risk: n Unvaccinated adults; n Unvaccinated children; n Seniors who refuse vaccination; n Adults who refuse boosters; n A health worker who sees patients; n An employee who uses public transportation; n Young adults who go to crowded areas on the weekend; n Poorly ventilated house; n Cramped living conditions; n Working adults who refuse to stay home when they are sick; n Refusal to wear a mask at home when symptoms occur; n Household helpers who go home on weekends; n Anyone in the household who does not inform the others of possible exposure. The way to survive this new wave of Omicron BA.5 is for the household to make sure that every eligible person is fully vaccinated and boosted. This has got to be a collective effort. We need to be responsible for each other—including the seniors who are refusing the shots. You are only as safe as the people you live with. If you answered yes to any of the boxes above, it is time to have a household meeting and discuss your collective risk. Omicron BA.5 is contagious and is notorious for “immune escape”— vaccination and previous infection is NOT a guarantee that you cannot get it. However, if you are fully vaccinated the likelihood of severe disease is minimal. So why not just let everyone get infected and develop natural immunity? Well, the more this virus reproduces, the greater the chances it will mutate further. And who knows what the next mutation will be like?Getting “mild” disease is not always a walk in the park. I caught Covid-19 a few weeks ago from a household exposure. I’ve evaded this nasty bug in the community for more than two years through all the things an individual must do. But when it entered my household—there was very little I could do. (This sub-variant is more infectious than measles that lives in the air for 2 hours). I had fever, chills and vomiting. Couldn’t get up for a few days. Couldn’t eat. I have recovered well. But now into my fourth week, I occasionally feel a little weak and wonder what would have happened if I had not been fully vaccinated and fully boosted. What WHO calls the “wall of immunity” has to start in your household. It is your responsibility to see to it that everyone is vaccinated and boosted and following minimum health standards. The consequences of continuing with an individual approach to risk is unthinkable—but we are headed in that direction unless we all reduce our household risk.

Wednesday, August 3, 2022 A13

TELLTALES Conclusion

S the First Lady, she turned into an activist, philanthropist and reformer who helped secure the right to vote for the Argentinian women, and economic protection for the poor and ordinary laborers. The shirtless people, or the descamisados, who supported her husband’s regime, adored her. When she died of cancer, she was given a state funeral, an honor reserved only for the head of state. In the Philippines, Imelda Romualdez-Marcos was the most powerful First Lady. During the long reign of the late President Ferdinand E. Marcos, she held powerful positions in government such as the Minister of Human Settlements and Governor of Metro Manila. After her return from exile, she even ran for president in 1992 but lost to President Fidel V. Ramos who was the anointed successor of President Cory C. Aquino. However, she was elected as a Representative for several terms after that loss. No First Lady before or hence has wielded great political power or influence. Except for Loi Estrada who was elected senator for one term after President Erap was

deposed, no other First Lady has held an elective public office. While First Lady Liza has disdained holding any public office during her husband’s term, her vital role in President BBM’s administration will be primordial and unchallenged. The First Lady enjoys perks and powers that are greatly enhanced by her innate grace and personal talents. While she has no direct mandate from the people, she got the single most important vote—that of her husband who elected her as his wife. So the First Lady’s power emanates from the President. She handles significant social events in Malacañang, like state dinners, holiday celebrations like Christmas,

New Year and Independence Day. She receives and attends to the spouses of visiting heads of other nations and showcases our country to the world. She takes an active role in conducting social and humanitarian projects on behalf of the President to benefit the public. She leads in providing charitable and relief works to assist the poor and the needy, particularly during the time of disasters. These are daunting tasks yet her “office” has no official duties and she gets no compensation. As former First Lady Hillary Clinton had said: “The First Lady role is really difficult, it has no job description… You have to create it for yourself.” No doubt, the First Lady performs a unique role in enriching the lives of our people. She’s not elected to her position, yet her actions leave a lasting impact on every Filipino. Recognizing the critical function of the First Lady, former President Harry Truman, whose wife Bess Truman was a model First Lady when it comes to modesty and simple living, had this to say: “I hope someday someone will take the time to evaluate the true role of the wife of a President and to assess the many burdens she has to bear and contributions she makes.” First Lady Liza has been widely perceived as the brain trust behind the phenomenal victory of BBM’s campaign for the presidency. She complements what our new Presi-

dent lacks. Her legal and analytical mind provides the President a detailed view of the issue he confronts. Her skepticism separates facts from disinformation, which distills genuine issues from canard. Most importantly, Atty. Liza is a tough cookie and was once described by Michael Keon, President BBM’s first cousin, as the President’s “backbone.” She is related to a family more allied to the anti-Marcos forces yet she had fallen in love with the son and namesake of the autocrat that her family had helped oust from office. Recalling her romance with the President during an interview by TV Host Aster Amoyo, she narrated: “It was not love at first sight but when you get to know him, how can you not fall in love, right?” President BBM could not find a more fitting First Lady for Atty. Liza is not only a woman of substance but more importantly of courage and conviction. She had chosen her man, believed in and stood by him in good times and bad. First Lady Liza has the makings to become a great First Lady. She had the education and the experience to succeed in her task. Coming from respected families, Cacho on her maternal side and Araneta on her paternal lineage, she has the pedigree to become an outstanding First Lady. May she succeed in her role and help President BBM become a better leader of our nation.

Scratching one’s head is not the way to address RCEP concerns By Raul Montemayor

Dr. Susan Mercado is the former Undersecretary of Health and former Director at the World Health Organization, Western Pacific Region. She is Co-Chair of the National Panel of Technical Experts of the Climate Change Commission and is Director for Food Systems and Resiliency at the Hawaii Public Health Institute and Adjunct faculty, National Institutes of Health, University of the Philippines, Manila.

Mr. Habito argues that worries about a surge in agricultural imports following RCEP membership are misplaced, because our commitments in RCEP are not much different from those in our current trade pacts with RCEP member-countries, either bilaterally or through Asean. He says that sensitive products like rice will continue to be protected under the agreement. Habito adds that not joining RCEP will deprive us of many trade benefits, particularly for sectors in the economy aside from agriculture. While many of Mr. Habito’s premises are valid, his conclusions are not. Indeed, RCEP is primarily a compilation of tariff and other commitments that have been in place under pre-existing trade agreements between Asean and its FTA partners for over 10 years now. The Philippines made few additional concessions, and did not offer tariff reductions on selected sensitive products like rice, meats and vegetables. Other RCEP countries did the same. Hence, Mr. Habito concludes, RCEP membership should not increase threats to our agricultural sector. This would be true—if our competitiveness and trading position remains the same relative to other RCEP countries. But if we sit still or—worse—retrogress, while our competitors move forward, then things can change dramatically. Even without significant changes in RCEP tariffs, there is the real danger that cheaper and better quality imports will continue to pour into the country. At the same time, we will lose our export markets, if other RCEP members become better producers and suppliers of products that we currently sell abroad.

We cannot just dismiss this possibility, which Mr. Habito calls an “imagined ghost.” Our country was a net agricultural exporter when we joined the World Trade Organization in 1995. In 2021, our agricultural trade deficit ballooned to $9 billion, the biggest within Asean. The excess of imports over exports has grown over the years, even though our tariff commitments under the WTO and subsequent FTAs did not change much. Imports of rice, meats and vegetables continued to rise, despite the relatively high tariff protection that we preserved under the FTAs. If we do not act, this trend will go on and worsen once we join RCEP. And the rosy projections of economists like Mr. Habito about the gains from RCEP and free trade will end up grossly off the mark, as they have characteristically been in the past. Because other countries did not go much beyond their prior commitments under existing FTAs, new trade opportunities under RCEP are actually very limited. Many of the supposed gains are likely small. For instance, RCEP proponents highlight China’s offer to drop its tariffs on canned pineapples to zero. What they do not say is that China’s current tariff is already a low 5 percent, and that the zero tariff will take effect only on the 20th year. By then, it is highly possible that our competitors like Thailand and Vietnam will have learned how to produce better and cheaper canned pineapples and displace us from the Chinese market. Then there are warnings that the Philippines will lose out to its competitors that can avail of RCEP’s improved Rules of Origin. These rules would allow them to treat raw ma-

terials sourced from RCEP countries as part of “local content” of products that are exported, thus making it easier to qualify for concessional RCEP tariffs. It remains to be proven that this will be of major benefit to our exporters. ROO under existing FTAs already allow us to pass on our exportable products with up to 60 percent foreign content as Philippine-made products. RCEP’s ROO will not benefit us if we export our products outside RCEP, such as our garments to the US or our canned tuna to Europe. Reports further indicate that many of our exporters cannot enjoy lower tariffs under the FTAs because of difficulties in securing Certificates of Origin and complying with the ROO guidelines. Claims that we will miss getting foreign investments by staying outside RCEP are grossly misleading. The Philippines is among the least attractive investment destinations in Asean. Inside RCEP, we will remain to be so, unless we fix our investment climate and address problems that matter most to investors, such as poor basic infrastructure, high power and utilities costs, graft and corruption, and red tape. Mr. Habito warns that important sectors other than agriculture will lose out if we remain outside RCEP. However, on micro, small and medium enterprises, the agreement’s legal text merely mentions information sharing and cooperation among member-countries—and not much else. Meanwhile, our tariff concessions on industrial products have been particularly aggressive—zero tariff on 83 percent of tariff lines upon entry into RCEP, and full or partial tariff elimination for almost all others. Less than half a percent of tariff lines have been exempted, which will benefit only a few traditionally protected sectors like automobiles, air conditioners, plastics, batteries, and guns and ammunition. How will our industries—MSMEs in particular—thrive under this scenario? Also, RCEP rules do not offer any significant improvement beyond those that are already found in ex-

has supplied Taiwan with advanced weaponry while remaining deliberately ambiguous about whether US forces would help defend against a Chinese attack. Pelosi, who represents a San Francisco district where almost a third of residents are of Asian ancestry, has long positioned herself as a China hawk. She opposed China’s ascen-

sion to the World Trade Organization and on a trip to Beijing in 1991, unfurled a banner in Tiananmen Square honoring pro-democracy protesters killed in a crackdown by the ruling Communist Party two years earlier. Chinese Foreign Ministry spokesman Zhao Lijian made clear at a Monday news briefing that Pelosi’s stature -- she’s second in the presi-

dential line of succession -- made her trip highly sensitive, reiterating the army “won’t sit idly by.” An aggressive response from Beijing and its military could quickly spiral into violence. Chinese media outlets including the Communist Party’s Global Times have suggested the People’s Liberation Army could go so far as to send warplanes over the

island. Taiwan would then need to decide whether to shoot them down, a move that could trigger a wider military conflict. China would have to weigh the possibility that America and its allies in the region would be drawn in militarily. Biden said in May that Washington would intervene to defend Taiwan in any attack from China,

N a recent opinion piece, Mr. Cielito Habito complains that we wasted seven months and gained nothing by delaying Philippine membership in the Regional Comprehensive Economic Partnership. RCEP is a free trade agreement (FTA) among the Association of Southeast Asian Nations (Asean), China, South Korea, Japan, Australia and New Zealand. The Philippines and Indonesia have not ratified the treaty.

isting FTAs regarding the temporary movement of natural persons, such as overseas Filipino workers (OFWs). Proponents contend that, despite all its perceived disadvantages, RCEP membership will force our government to install the necessary adjustment measures and programs to enhance our competitiveness. This same argument was used to justify WTO membership in 1995 and the adoption of subsequent FTAs. But the promised remedies never materialized. Our competitive position actually deteriorated over time. Given this experience, it is both practical and imperative that we first prepare ourselves before, and not after, we jump into new trade agreements like RCEP. We will not lose much, contrary to what Mr. Habito claims, because the existing FTAs will continue to provide us essentially the same trade opportunities that RCEP offers. In fact, our exports during the first three months of 2022 were the highest in the last six years, despite the fact that we missed the deadline for joining RCEP on January 1. We will also be in a much better position to gain not only from RCEP, but also from pre-existing and future FTAs, if we prepare ourselves properly. Clearly, Mr. Habito strongly believes in free trade and the power of markets. He will thus vigorously endorse any initiative—such as RCEP—that reduces protection and enhances competition. He is, of course, entitled to his opinion. Unfortunately, he may have developed a habit of “scratching his head” every time somebody disagrees with him, and condescendingly treating those who see things differently as “foolish” or out of their minds. It might be good for Mr. Habito to step down from his pedestal from time to time, so that he can understand better what is actually happening on the ground. Otherwise, he may end up not only hairless, but also deaf and blind to reality.

although the White House later clarified he meant the US would provide weapons, in accordance with existing agreements. Despite the risk of conflict, US lawmakers from both parties have expressed support for Pelosi’s trip, arguing it’s important that the top leader in Congress doesn’t cave to pressure from Beijing.

Raul Montemayor is the National Manager of the Federation of Free Farmers

A14 Wednesday, August 3, 2022

PELOSI VISIT TO TAIWAN MONITORED ‘CLOSELY’ By Malou Talosig-Bartolome @maloutalosig

HE Department of Foreign Affairs said Tuesday it is “closely monitoring” reports that US House Speaker Nancy Pelosi will visit Taiwan as part of her Asian tour. Taiwanese media reports say Pelosi is arriving in Taiwan Tuesday night or Wednesday morning after visiting Malaysia. “The PH is closely monitoring developments in this regard. It is important for the US and China to ensure continuing communication to avoid any miscalculation and further escalation of tensions. We trust that China and the United States will be responsible actors in the region,” DFA spokesperson Ma. Teresita Daza said. When asked about speculation posted on social media that Pelosi will fly from Clark Air Base in Pampanga before proceeding to Taiwan, Daza replied: “The DFA has not received any request from the US government or their Embassy in Manila for Speaker Pelosi to transit and/or visit the Philippines as part of her current

swing of visits to the region.” The Cesar Basa Airbase in Clark is one of the Philippine military facilities where the US can have access to rotate troops and preposition military equipment under the Philippine-US Enhanced Defense Cooperation Agreement. Taiwan is not on the official itinerary of Pelosi’s Asian tour. She started her trip in Singapore Monday and is now in Malaysia. But reports of her planned trip to Taiwan have triggered dire warnings from Beijing and escalated tension between China and the United States. Chinese Ministry of Foreign Affairs spokesman Zhao Lijian said, “there will be serious consequences if she insists on making the visit.” China regards Taiwan as a renegade province. It has been blocking every move on Taiwan’s bid to become a separate sovereign state. “We are fully prepared for any eventuality,” Zhao said. “The People’s Liberation Army will never sit by idly. China will take strong and resolute measures to safeguard its sovereignty and territorial integrity.”

Jan-July dengue log shows 106% spike

HE latest National Dengue Data from the Department of Health (DOH) showed cases reached 82,597 from January 1 to July 16, cumulatively, or 106 percent higher than the reported cases in the same period last year. The dengue cases recorded during the same period in 2021 was 40,096. Cumulatively, most dengue cases were reported from: Region III (13,449, 16 percent); Region VII (8,905, or 11 percent); and National Capital Region (6,884, or 8 percent). In the recent period (June 19 to July 16) where 20,261 cases were recorded, the region with the highest number of cases are: Region III: 4,629 cases (23 percent); Region II: 2,151 (11 percent); and National Capital Region: 1,985 (10 percent). Ten out of 17 regions exceeded the epidemic threshold in the past four weeks (June 19 to July 16) with Regions II, Mimaropa, and Cordillera Autonomous Region, showing a sustained increasing trend from June 19 to July 16.

Nationally, there were 319 deaths reported: in January, 36 deaths; February, 31; March, 39; April, 46; May, 63; June, 72; and July, 32. “In light of reaching the epidemic thresholds, The Department of Health strongly calls on the general public, and together with our local government units, to adhere and exercise the 4 o’clock habit or the 4S Strategy: S - Search and destroy breeding places, S - Secure selfprotection, S - Seek early medical consultation, S - Support fogging/ spraying in hot spot areas,” the DOH said. The DOH has directed hospitals and clinics to provide their patients with dengue fast lanes at their emergency areas for prompt diagnosis and management of cases. “Hospitals and clinics may use rapid diagnostic tests for nonstructural protein 1 or NS1 to aid in screening. Report all cases to the local epidemiology and surveillance unit,” the DOH said. Claudeth Mocon-Ciriaco

F2F classes will proceed despite monkeypox By Claudeth S. Mocon-Ciriaco @claudethmc3

HE scheduled face-to-face classes in November will continue as planned despite the detection of the first case of monkeypox in the country, the Department of Health (DOH) said on Tuesday. DOH Officer-in-Charge Undersecretary Maria Rosario Vergeire was asked by the media after the Department of Education (DepEd) on Monday said that they will take a cue from the DOH following the reported monkeypox case detected in the country. Likewise, Vergeire also said that there is no reason to postpone the opening of classes on August 22. The DOH official assured that safeguards or measures are in place to ensure the safety of the learners, especially when they attend the in-person classes.

She said the DOH and DepEd will also implement heightened health screening for the learners and teachers. “Walang papasok dapat sa eskwela na may mga sintomas o ‘di kaya kung meron nang mga lesions, makita na natin agad [No one will be allowed to go to school if they have symptoms or lesions],” Vergeire explained. Symptoms of monkeypox include: ■ Fever ■ Headache ■ Muscle aches and backaches ■ Swollen lymph nodes ■ Chills ■ ExhaustionRespiratory symptoms (e.g. sore throat, nasal congestion, or cough) ■ A rash that can look like pimples or blisters that appears on the face, inside the mouth, and on other parts of the body, like the hands, feet, chest, genitals, or anus.

Funding bugs new law hiking pension of indigent seniors

By Jovee Marie N. dela Cruz

@joveemarie

DEPUTY speaker on Tuesday said President Ferdinand “Bongbong” Marcos Jr. should immediately convene the Legislative-Executive Development Advisory Council (LEDAC) to discuss priority legislations and new laws, including the funding for new law increasing the social pension of indigent senior citizens Deputy Speaker and Batangas Rep. Ralph G. Recto said the executive and the legislative departments should now work together on how to fund the law, which will cost P50 billion annually. “This year, the Social Pension for Indigent Seniors Program covers 4,079,669 seniors, costing taxpayers P25.01 billion annually,” said Recto. “Finding the fiscal space to fund this law can be tackled in the LEDAC meeting which I would recommend that President Marcos, in the spirit of inter-branch dialogue, call soon,” added Recto. The LEDAC serves as a consultative and advisory body to the President as the head of the national economic and planning agency for further consultations and advice on certain programs and policies essential to the realization of the goals of the national economy. It also serves as a venue to facilitate high-level policy discussions on vital issues and concerns affecting national development. If the bill doubling the monthly P500 pension to P1,000 has lapsed into law, Recto said then it would

mean that the budgetary requirement will also double to P50 billion. “So this is the P25-billion question whose answer will be found in the 2023 national budget that Malacañang will soon submit to Congress,” he said. “If no funding provision will be made in next year’s proposed appropriations, which is understandable as the budget preparation by the Executive is now at its last mile and only the finishing touches are being applied, then it will be up to Congress to save the law from ending up as an unfunded mandate,” he added. Recto also reminded that the P50-billion estimated cost only covers the seniors currently enrolled in the program. “It does not include persons who turn 60 this year, nor those who were already 60 and above but who, for one reason or another, have been left out of the list,” he said. “One estimate pegs at P60 billion the amount needed to enroll all qualified beneficiaries, including pension-nadas denied of this old-age safety net,” added Recto. At the Senate, Sen. Grace Poe,

one of those who had championed the measure, welcomed the development but expressed hope that it can be properly implemented. For his part, Majority Leader Joel Villanueva, who had also strongly supported it, conceded that implementing the law as it stands may not be quickly done, given the fiscal constraint. For one, he said, the implementing rules and regulations will have to be crafted. Villanueva said senators are this early looking to review the budget proposals for various agencies— budget season is about to begin —with a view to determining how funding allocations can be tweaked so as to carry out the new law.

Clear red tape

THE chairman of the House Committee on Senior Citizens called on implementing agencies to clear away the red tape so seniors will get their P1,000 pension immediately. Senior Citizen Rep. Rodolfo Ordanes made a statement as the Social Pension Increase for Indigent Senior is now a law under Republic Act 11916. “RA 11916 is just the beginning. We reaffirm our commitment to all senior citizens that our fight for a universal pension for all senior citizens shall continue. We shall fight on,” he said. “We are in the middle of the third quarter now, Senior Citizens Partylist appeals to the implementing agencies to do everything they can to get the new indigent seniors pension rate funded, implemented, and disbursed to the beneficiaries by end-September or mid-October at the earliest because seniors most urgently need the cash to cope with rising costs of everything,” he said.

Ordanes said government agencies should clear away all the red tape and technical delays which hampered pension fund releases before.

‘Compromised version’

FORMER House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate welcomed the enactment of what he described as “long overdue law increasing social pension from P500 to P1000,” now under Republic Act 11916. But Zarate, principal author of the measure at the lower house in the 18th Congress, said the “compromised version” of the measure that lapsed into law last July 30 is still wanting, because it should expand the coverage of elderly people who can avail themselves of the increased pension. “The Senate version adopted by the House of Representatives to expedite its approval still contained the discriminatory provision requiring that an elderly should be weak, sick or disabled before one can be considered an indigent senior citizen to qualify for the pension,” noted the Executive Vice President of Bayan Muna. “This provision was already removed through the amendments introduced by Bayan Muna and approved in the House last August 2021, but the Senate version prevailed,” said Zarate, adding that Bayan Muna will engage the 19th Congress for the passage of a bill eliminating the said discriminatory provision. The amendatory bill increasing the pension had been awaited “for nearly 12 long years by our senior citizens,” Zarate said. With Butch Fernandez

DepEd holds National Brigada Eskwela 2022 Kick-off

HE Department of Education (DepEd) held the National Brigada Eskwela 2022 Kick-off with the theme “Tugon sa Hamon ng Ligtas na Balik-Aral” at Imus Pilot Elementary School, Imus, Cavite on August 1, 2022. As the keynote speaker, Vice President of the Republic of the Philippines and Education Secretary Sara Z. Duterte-Carpio graced the event which was attended by DepEd officials from different schools in Calabarzon. This prog r a m h a s t h ree component s, namely, Brigada Eskwela sa Paghahanda, Brigada Eskwela Plus and Brigada Pagbasa. Brigada Eskwela sa Paghahanda will be implemented until August 26, 2022 in preparation for the opening of classes ensuring the safe return of the students with clean, disinfected and fully repaired classrooms and shall continue with the year-round implementation of Brigada Eskwela Plus and Brigada Pagbasa. After the kick-off event, VP Sara Duterte and Undersecretary for Legislative Affairs and International Cooperation Office, Atty. Gerard Chan, visited the designated booths of the external partners who expressed their support to the Brigada Eskwela National KickOff. One of the long-term partners of DepEd in coordination with Marylindbert International, Fortune Life Insurance Company represented by EVP-COO Emma Abad, AVP-Corporate Communications Floreda Constantino and AVPNorth & Luzon Sales Alvin Perez donated corporate giveaways, school kits and workbooks entitled The Value of Hard Work and Discipline. Fortune Life and its sales force will also participate in selected schools nationwide for the conduct of Brigada Eskwela. Other external partners present during the kick-off were Milo, McDonald’s, Rebisco, Bewell Nutraceuticals, Silver Swan NutriAsia, Meralco and other lending institutions.

VP and DepEd Secretary Sara Duterte (above) visits the Fortune Life booth at Brigada Eskwela. Fortune Life EVP-COO Emma Abad (3rd from left, upper photo) provides corporate giveaways to the DepEd participants of the National Brigada Eskwela 2022 Kick-off.

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, August 3, 2022 B1

SMIC secures nod of SEC to acquire stake in Allfirst By VG Cabuag

surviving entity.

@villygc

onglomerate SM Investments Corp. (SMIC) said on Tuesday it received approval from the Securities and Exchange Commission (SEC) to acquire the remaining stake that it does not own from the company that operates the steam field in the Tiwi geothermal power plant in Bicol. SMIC has bought the 81-percent stake in Allfirst Equity Holdings Inc., the holding company for Philippine Geothermal Production Co. Inc. (PGPC), for P15.76 billion. The transaction will involve the

issuance of 17.44 million new shares to the sellers, mainly the Sy siblings, equivalent to 1.4 percent of shares outstanding in SMIC. According to the deal, the two firms will merge with SMIC as the

SMIC will issue 43 common shares in exchange for one Allfirst common share or a total of 21.5 million common shares. Out of the 21.5 million common shares, 4 million shares will be issued by SMIC to itself, and treated as treasury shares, and 17.4 million shares will be issued to the other shareholders of Allfirst. Previously, SMIC owned 19 percent of Allfirst; Hans T. Sy, 26.92 percent; Elizabeth T. Sy and Harley T. Sy, each owned 26.91 percent; while Adelia C. Cua and Asuncion J. Yap each owned 0.13 percent. Last year, Philippine Geothermal delivered $99.4 million in revenues and $48.8 million in net income, equivalent to 1.2 percent of SMIC revenues and 5.5 percent accretion to SMIC net income in 2021, respectively. Philippine Geothermal operates the Tiwi and Mak-Ban steam fields.

Tiwi is the first commercial-scale geothermal steam field development in Southeast Asia, followed by Mak-Ban or short for MakilingBanahaw, both in operation since 1979. Together, these generate geothermal steam sufficient to produce approximately 300 megawatts of electricity. In addition to its two producing steam fields, the company also has several other greenfield concession areas for geothermal steam production which it will develop in the future. “The acquisition of PGPC is sizeable, accretive to our shareholders, and a strong strategic fit with our portfolio of investments in high growth sectors in the Philippines. It further reinforces the SM group’s commitment to sustainability, good governance and acting as a catalyst for responsible development in the communities we serve,” said Frederic C. Dybuncio, SMIC president and CEO.

Solar PHL unit sets terms of SRO

isted Solar Philippines Nueva Ecija Corp. (SPNEC) said the offer period for its stock rights offering (SRO) will start on August 30 and will end on September 5, according to the preliminary terms it released on Tuesday. The company said it is offering some 1.87 billion in rights shares to eligible shareholders at a price of between P1.50 and P1.76 per share. Pricing date for the company’s SRO, which allows shareholders to buy additional shares according to its holdings, is on August 18. It is giving 1 rights share for every 1.28 shares owned. The company is expecting net proceeds of between P2.79 billion to P3.28 billion after deducting fees and expenses for the said offer. “The net proceeds from the offer are intended for project development, including securing land and off-take agreements, and general corporate purposes,” the company said.

Globe eyes tie-ups with more property developers

Solar Philippines Power Project Holdings Inc. and its affiliate Countryside Investments Holdings Corp., which owns a combined 70.46 percent of SPNEC, will not participate in the first and second round of offer. Solar Philippines, however, has committed to subscribe all the rights shares that remained unsubscribed after the mandatory second round of offering. It will, however, reduce its subscription if it will breach the required minimum public ownership. The shares will be listed on the Philippine Stock Exchange on September 15. The Securities and Exchange Commission (SEC) earlier gave its green light for the said SRO by confirming that the transaction is exempt from the registration requirements under the Securities Regulation Code. SPNEC said the SEC issued the

lobe Telecom Inc. plans to expand its list of property development partners for the deployment of built-in broadband and telco infrastructure in housing developments, a move that its president said will “ensure reliable and robust connectivity for residents.” “I think the most important requirement that Globe looks for in partners is that they also care about the end user. Globe is a very customercentric company. We are looking for the same in our partners,” Ernest L. Cu, the company’s president, said. Globe currently has 18 property developer partners, with 200 developments covering nearly 100,000 units fitted with built-in broadband through these collaborations. This makes internet connectivity instantly available to residents upon move-in. “What we envision is when a customer steps into a property, he is ready to connect just like electricity and water are readily available. And it’s great we’ve gotten this far in terms of our existing partner developers, because like Globe, they are also customer-centric. We are no longer just talking to a blank wall,” said Cu. He said Globe is “committed” to work with developers in embedding connectivity in their projects, a move that, he said, provides developers a “differentiator” versus competitors. “We’re here to work with you. We know that this is an area that probably is not within the realm or sphere of competence of your engineering teams, just like we don’t know construction. We‘re here to provide that service. We’re here for you.” Lorenz S. Marasigan

Confirmation of Exempt Transaction on July 19. It filed its documents for the said exemption on April 8. SPNEC is also increasing its authorized capital stock in and assetfor-share swap with its parent company, Solar Philippines Inc. The company is raising funds for the development of 10 gigawatts (GW) of solar projects, including the 3.5 GW solar, 4.5 GWh battery Terra Solar project, which plans to supply Manila Electric Co. with 850 megawatts of mid-merit and has been touted as the world’s largest solar project. Also included are projects that participated in the Department of Energy’s green energy auction, in which Solar Philippines won 70 percent of all the auction’s renewable energy capacity—1,380 megawatts out of 1,967 MW— and 91 percent of all the solar capacity—1,350 MW out of 1,490 MW.

T hese developments h ave brought the total capacity of substantially contracted Solar Philippines projects to over 6 GW, compared to just over 1.3 GW of total solar installed capacity in the Philippines as of the end of 2021 according to DOE figures. “When we began talking about 10 GW, many were in disbelief, because the total installed solar capacity of the Philippines last year was just over 1.1 GW. But we hope that having contracts for the majority of 10 GW has now made this plausible,” Solar Philippines founder Leandro Antonio L. Leviste said. “We were fortunate to have been at the right place at the right time, developing these projects since 2016. Now we have contracted this capacity, we look forward to work with other companies and stakeholders to deliver these projects and help achieve our country’s targets for renewable energy.” VG Cabuag

‘AI could trigger fintech revolution’

ith the emergence of financial technology (fintech), companies are expected to offer more financial services to personalize their customer journey, enhance the overall user experience and generate alternative revenue streams. Provenir, an artificial intelligence-powered decision-making platform, believes that integrating start-up business operations with artificial intelligence (AI) and efficient data management could trigger “a fintech revolution” that will transform industries in the country. This holds true with the growth of the local fintech market, which has seen a significant valuation increase by 224 percent from $3.4 billion to $11 billion in 2016 to 2021, indicating that Filipinos use at least one fintech service every second. As mobility restrictions amid the ensuing pandemic constantly result in strong demand for digital services, businesses need to “adapt themselves at a very high speed,” according to Provenir General Manager for Asia-Pacific Bharath Vellore. “AI in fintech opens the doors for the digitalization of creditrich verticals and diversifies products and capabilities. Agility and speed in personalization play critical roles in providing personalized offers to customers, aiding in hypergrowth,” he said during a recent forum. Smart tools like AI can translate big amounts of data into valuable insights such as consumer patterns that help with fraud detection and business risk decisions. “AI also helps organizations discover new patterns in data that empower them to serve a much wider base of people,” Vellore said, adding that it can also reduce transaction costs, improve data management, and increase employee productivity. Through AI, patterns can be identified in a vast array of

alternative, traditional, linear, and non-linear data. Also, it can enable highly accurate decisionmaking even for consumers considered “thin-file” or those without files. This fosters financial inclusion as fintech companies and financial services providers can support the unbanked, which is over 70 percent of the population in Southeast Asia and about 47 percent of adult Filipinos. “AI can create alternative credit scores for the consumer loan space,” the GM said, saying that it can replace the traditional FICO score used by banks for consumer risk assessments and legacy underwriting, which are slow-moving processes in lending transactions. Considering the rise of fintech solutions catering to various users, 77 percent of financial institutions have put innovation as their focus to strengthen customer retention. These days, AI is conspicuous in mobile app features such as “frictionless” customer onboarding via face detection. But this technology goes beyond the superficial. AI can reveal complex and unexpected variables that cannot be derived by manual analysis alone. It can “advise managers on how to use the information to increase profit.” “Through AI, an e-wallet is no longer just a channel for paying bills but is now also a bank, and it contains your investment portfolio, insurance, and so much more. A ‘super app’,” said Vellore. The Philippines has continually transitioned into an AI powerhouse in Southeast Asia as the country leverages on this technology to boost local enterprises’ regional and global cooperation. At the forefront of this is the Department of Trade and Industry, which launched a national AI roadmap last year, making the Philippines one of the first 50 nations worldwide to do so. Roderick L. Abad

Aboitiz plants to use ICTSI vax centers administer 665K doses fuel from Chevron By Lorenz S. Marasigan @lorenzmarasigan

nternational Container Terminal Services Inc. (ICTSI) said on Tuesday its vaccination centers have administered over 665,000 doses of Covid-19 vaccines since they were introduced in June 2021. T he P250 -million Solaire-ICTSI Vaccination Centers (SIVC) served residents of National Capital Region and nearby provinces. It was located in the Solaire Resort & Casino and the nearby Nayong Pi l ipino Foundation (NPF) property in Parañaque. The facility’s final day of operation was on July 27. “ICTSI, along with the entire Razon Group, remains firmly committed to helping our country recover from the Covid crisis. As the economy reopens, we are now seeing the results of our concerted effort to get as many people vaccinated and boosted,” ICTSI EVP Christian R. Gonzalez said. The SIVCs are part of the Razon Group’s more than P1.5-billion contribution to the national pandemic mitigation efforts. ICTSI also

By Lenie Lectura @llectura

C Manned by volunteers and trained medical personnel, the drive-through vaccination facility at the SIVCNPF was designed to accommodate up to 15,000 vaccinees daily. Contributed photo

facilitated the private sector’s participation in the tripartite deal that allowed the Philippines to secure 20 million doses of the Moderna vaccine and arranged the logistics of bringing the vaccines into the country. Internally, ICTSI has vaccinated 93 percent of its 11,000-strong global manpower. As of June, 10,400 employees have completed their primary doses while 6,900 have taken their booster shots. “We owe it to our employees for supporting our global vaccination campaign and taking responsibility in safeguarding their coworkers, families and communities. Their welfare is and will always be our priority. While we are happy with the results of our vaccination program, we continue to encourage everyone

to take their booster shots for increased protection against Covid,” said Gonzalez. Aside from investing in the vaccination of its manpower, ICTSI also deployed digital technologies to keep its terminals running throughout the height of the pandemic. It deployed online payment systems in its terminals and tapped PLDT Inc. for the development of 5G-based port solutions for its terminals. “These investments allowed us to crisis-proof the terminal and it eventually paid off during the pandemic. We will continue to invest in technology to shield our terminals from future disruptions and generate efficiencies across our operations worldwide,” Gonzalez said.

hevron Philippines Inc. (CPI) will supply diesel fuel to nine power plants of Aboitiz Power Corp. CPI, marketers of the Caltex brand of fuels and lubricants, recently signed a contract with AboitizPower. “With Chevron Philippines as our provider of quality fuel, we look forward to operational efficiency and worry-free operations so that we can keep supplying much needed power to keep the lights on in many Filipino households,” said Ronaldo S. Ramos, president of AboitizPower’s Oil Business Unit. AboitizPower is engaged in power distribution, generation, and retail electricity services with 3,962-megawatt total capacity. “We trust their reliable service to support our operations as we continue to provide the country with reliable, sufficient, and cost-effective power supply,” said Emmanuel Lopez,

Senior Vice President of the AboitizPower’s Coal Business Unit. “We are also thankful to Chevron for supplying us with the diesel and gasoline requirements we needed to start-up the power plant of Therma Visayas Inc. in Toledo, Cebu right after Typhoon Odette hit,” Lopez added. CPI said Caltex-branded diesel fuel products have been especially designed to comply with stringent Philippine emission regulations and other market requirements. The fuel products also operate efficiently in both high and low-sulfur diesel fuel environments. “ O u r p a r t ne r s h i p w it h AboitizPower is truly remarkable,” said Billy Liu, CPI country chairman, “since we share the same advocacy of providing affordable, reliable, and safe energy. Our number one goal now is to keep AP’s equipment running and electricity flowing at their thermal plants so they can continue to provide for the energy needs of the nation.”

Companies BusinessMirror

Wednesday, August 3, 2022

PSE STOCK QUOTATIONS

August 2, 2022

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

BDO UNIBANK 112.4 112.6 114.2 114.5 110.2 112.6 5,893,920 658,363,598 (272,197,127) BANK COMMERCE 8.05 8.1 8.2 8.26 8.1 8.1 19,800 160,670 2,460 BANK PH ISLANDS 91 92 90 92.9 89.5 92 911,790 83,725,681.5 (4,937,770) CHINABANK 27.6 27.7 27.3 27.7 27.3 27.7 367,000 10,093,520 EAST WEST BANK 6.78 6.8 6.89 6.89 6.76 6.78 98,400 671,605 (242,760) METROBANK 48.7 48.9 48 49 47.5 48.9 3,192,800 153,599,740 3,010,970 PB BANK 6.42 7.15 6.44 6.44 6.43 6.43 42,200 271,615 (191,824) PHIL NATL BANK 17.6 17.9 17.86 17.94 17.58 17.58 338,000 6,021,968 672,358 PSBANK 55.05 56 55.05 55.15 55.05 55.05 630 34,695.5 SECURITY BANK 83.95 84 86.9 88.45 83 84 2,684,330 228,041,965 (49,462,835) UNION BANK 75 75.6 78 78.95 74.65 75 432,410 33,062,052 17,677,045.5 BRIGHT KINDLE 1.72 1.74 1.64 1.75 1.64 1.73 218,000 368,100 COL FINANCIAL 3.44 3.48 3.44 3.48 3.44 3.48 2,000 6,920 MEDCO HLDG 0.23 0.25 0.225 0.27 0.225 0.25 120,000 29,150 PHIL STOCK EXCH 168.8 169 169 169 168.8 168.8 1,180 199,400 69,290 INDUSTRIAL ACEN CORP 8.46 8.5 8.5 8.54 8.41 8.5 12,860,500 109,233,147 (4,891,691) ALSONS CONS 0.92 0.95 0.93 0.93 0.93 0.93 53,000 49,290 ABOITIZ POWER 32.4 32.5 32.5 32.55 32.35 32.5 308,200 10,012,870 (1,058,105) RASLAG 1.76 1.79 1.8 1.8 1.76 1.79 317,000 562,030 35,400 BASIC ENERGY 0.405 0.415 0.415 0.43 0.41 0.41 5,900,000 2,468,600 (17,000) FIRST GEN 17.2 17.22 17.5 17.64 17 17.2 145,400 2,504,186 (447,110) FIRST PHIL HLDG 64 64.95 66 66 64 64.95 8,060 518,134.5 27,413.5 MERALCO 322 322.4 327.4 333.2 320.2 322 520,370 169,908,326 (71,696,816) MANILA WATER 14.92 14.96 15.26 15.3 14.9 14.96 1,397,000 20,970,884 (12,817,826) PETRON 2.95 2.96 2.91 2.96 2.91 2.96 4,350,000 12,867,240 (10,178,900) PETROENERGY 4.83 4.92 4.8 4.94 4.8 4.94 35,000 168,700 PHX PETROLEUM 9.17 9.59 9.6 9.6 9.59 9.59 5,800 55,630 SYNERGY GRID 12.32 12.34 12.3 12.42 12.3 12.34 1,025,100 12,661,180 3,664,500 PILIPINAS SHELL 17.4 17.5 17.8 17.8 17.5 17.5 109,100 1,918,840 (1,229,780) SPC POWER 10.08 10.2 9.97 10.2 9.95 10.2 197,100 1,973,319 20,000 SOLAR PH 1.61 1.62 1.63 1.63 1.59 1.61 11,443,000 18,440,090 (539,000) VIVANT 15.72 18.04 15.7 15.7 15.7 15.7 900 14,130 AGRINURTURE 5.35 5.36 5.54 5.54 5.36 5.36 2,041,800 11,183,758 3,684,424 AXELUM 2.55 2.66 2.68 2.69 2.55 2.66 378,000 988,220 (701,390) CENTURY FOOD 23.35 23.4 22.9 23.65 22.5 23.35 712,400 16,646,895 (8,315,605) DEL MONTE 13.92 14.38 14.38 14.38 13.9 14.38 19,800 280,072 DNL INDUS 6.98 7.02 7.04 7.06 6.95 6.98 638,800 4,476,366 (836,217) EMPERADOR 18.92 18.94 18.88 19 18.7 18.94 6,507,300 123,460,456 (24,151,576) SMC FOODANDBEV 42.95 43 43.45 43.45 42.95 43 62,300 2,680,195 (1,871,635) FIGARO COFFEE 0.68 0.69 0.68 0.69 0.67 0.68 11,974,000 8,162,970 ALLIANCE SELECT 0.54 0.55 0.55 0.55 0.55 0.55 341,000 187,550 FRUITAS HLDG 1.03 1.04 1.01 1.06 1.01 1.04 6,108,000 6,319,130 23,100 GINEBRA 96.8 97 97 97 97 97 6,380 618,860 (570,360) JOLLIBEE 204.8 205 205.4 207.4 204.8 205 322,110 66,139,404 36,083,730 KEEPERS HLDG 1.17 1.18 1.17 1.18 1.17 1.17 1,970,000 2,312,070 1,105,650 MAXS GROUP 4.49 4.63 4.63 4.63 4.63 4.63 53,000 245,390 (4,630) MG HLDG 0.101 0.109 0.101 0.109 0.101 0.109 110,000 11,250 MONDE NISSIN 14.98 15 14.6 15 14.36 15 9,824,300 146,252,514 71,822,514 SHAKEYS PIZZA 7.11 7.18 7.11 7.11 7.11 7.11 11,100 78,921 ROXAS AND CO 0.59 0.61 0.6 0.62 0.59 0.61 1,528,000 911,210 (137,030) RFM CORP 3.85 3.9 3.9 3.9 3.9 3.9 19,000 74,100 (62,400) ROXAS HLDG 1.18 1.19 1.18 1.18 1.18 1.18 1,000 1,180 SWIFT FOODS 0.09 0.093 0.09 0.093 0.09 0.093 40,000 3,690 UNIV ROBINA 120.4 121 117.7 121.5 117.2 121 2,098,950 252,087,440 100,437,315 VITARICH 0.58 0.6 0.6 0.6 0.58 0.58 227,000 132,860 VICTORIAS 2.49 2.67 2.49 2.49 2.49 2.49 1,000 2,490 CEMEX HLDG 0.69 0.7 0.67 0.71 0.67 0.7 2,692,000 1,870,300 (60,560) EAGLE CEMENT 13.6 13.62 13.62 13.62 13.5 13.6 330,100 4,478,730 1,360 EEI CORP 3.3 3.39 3.28 3.3 3.28 3.3 15,000 49,440 HOLCIM 4.55 4.6 4.6 4.6 4.52 4.6 130,000 595,820 MEGAWIDE 4.12 4.3 4.3 4.49 4.15 4.15 883,000 3,759,660 (2,159,370) PHINMA 19 19.2 19.1 19.2 19.1 19.2 9,100 174,710 TKC METALS 0.64 0.69 0.65 0.69 0.64 0.64 47,000 30,250 VULCAN INDL 0.87 0.88 0.87 0.92 0.85 0.87 7,584,000 6,752,250 (9,100) CROWN ASIA 1.4 1.43 1.4 1.43 1.4 1.43 622,000 877,840 28,600 EUROMED 0.98 1.01 0.98 0.98 0.98 0.98 6,000 5,880 MABUHAY VINYL 5.1 5.49 5.4 5.51 5.4 5.51 7,000 38,270 PRYCE CORP 5.37 5.47 5.47 5.47 5.47 5.47 12,000 65,640 GREENERGY 1.61 1.62 1.67 1.67 1.61 1.62 5,053,000 8,350,190 1,221,050 INTEGRATED MICR 6.82 6.95 6.97 6.97 6.8 6.82 74,700 517,060 682 IONICS 0.7 0.71 0.69 0.72 0.68 0.71 247,000 172,980 PANASONIC 5.51 5.77 5.8 5.8 5.51 5.51 3,400 19,140 SFA SEMICON 1.6 1.61 1.59 1.62 1.57 1.6 755,000 1,209,950 CIRTEK HLDG 3.19 3.2 3.04 3.2 3.04 3.2 3,506,000 11,072,740 1,923,190

HOLDING & FRIMS

ABACORE CAPITAL 2.04 2.05 2.04 2.08 2.04 2.05 4,201,000 8,592,490 4,328,410 AYALA CORP 655 660 640 662 640 660 518,400 340,385,935 120,756,300 ABOITIZ EQUITY 57.1 58 58.8 58.8 56.45 58 2,880,570 166,768,875.5 65,913,150 ALLIANCE GLOBAL 9.62 9.7 9.71 9.73 9.55 9.62 2,500,800 24,178,546 (8,867,018) ANSCOR 8.2 8.4 8.2 8.6 8.2 8.4 25,800 219,045 (4,245) ANGLO PHIL HLDG 0.72 0.79 0.72 0.72 0.72 0.72 1,000 720 ATN HLDG A 0.39 0.395 0.39 0.39 0.39 0.39 360,000 140,400 COSCO CAPITAL 4.25 4.26 4.35 4.35 4.25 4.26 158,000 676,010 (414,820) DMCI HLDG 9.25 9.26 9.25 9.4 9.25 9.25 2,608,100 24,363,192 (3,265,956) FILINVEST DEV 6.92 7 7 7 7 7 100 700 GT CAPITAL 449.8 450 448 458 441.4 449.8 192,440 86,442,982 (41,695,624) JG SUMMIT 52.4 54 53 54 51.8 54 1,691,460 89,771,732 54,099,431.5 LODESTAR 0.55 0.56 0.54 0.56 0.54 0.56 105,000 57,590 LOPEZ HLDG 2.91 3 3 3 3 3 42,000 126,000 LT GROUP 8.69 8.7 8.7 8.79 8.68 8.7 1,118,500 9,750,724 (886,336) METRO PAC INV 3.66 3.75 3.71 3.75 3.65 3.75 12,778,000 47,388,620 7,179,910 PRIME MEDIA 2.09 2.1 2.14 2.14 2.09 2.09 207,000 435,390 SOLID GROUP 0.83 0.85 0.83 0.86 0.83 0.85 133,000 112,690 SM INVESTMENTS 769 773 778 780 764 769 424,570 326,728,900 (130,274,110) SAN MIGUEL CORP 104.5 105.3 105 105.3 103.3 104.5 201,320 21,112,522 270,153 TOP FRONTIER 109 115 107 115 107 115 770 87,990 WELLEX INDUS 0.26 0.29 0.28 0.28 0.26 0.26 600,000 167,600 ZEUS HLDG 0.153 0.159 0.153 0.153 0.153 0.153 10,000 1,530 PROPERTY ARTHALAND CORP 0.53 0.54 0.52 0.54 0.52 0.54 100,000 52,100 ANCHOR LAND 5.62 6.5 5.61 5.61 5.61 5.61 300 1,683 AYALA LAND 25.95 26.1 25.45 26.1 25.45 26.1 10,500,500 272,453,020 66,260,625 AYALA LAND LOG 3.34 3.35 3.3 3.39 3.27 3.35 875,000 2,900,860 9,810 ARANETA PROP 1.33 1.38 1.33 1.38 1.32 1.37 106,000 142,690 AREIT RT 36.5 36.65 36.7 36.75 36.5 36.5 229,800 8,397,520 (3,794,940) A BROWN 0.75 0.84 0.77 0.78 0.75 0.75 243,000 184,720 CROWN EQUITIES 0.082 0.088 0.089 0.089 0.089 0.089 10,000 890 CEB LANDMASTERS 2.48 2.5 2.5 2.5 2.5 2.5 15,000 37,500 CENTURY PROP 0.38 0.39 0.39 0.39 0.38 0.39 990,000 380,550 (141,700) CITICORE RT 2.4 2.41 2.43 2.44 2.41 2.41 11,367,000 27,517,810 (1,231,450) DOUBLEDRAGON 7.79 7.82 7.85 7.85 7.75 7.82 47,900 373,654 102,307 DDMP RT 1.52 1.53 1.51 1.54 1.5 1.52 279,000 422,640 (25,670) DM WENCESLAO 6.84 6.85 6.87 6.87 6.82 6.82 26,500 181,395 EMPIRE EAST 0.194 0.213 0.192 0.194 0.192 0.194 60,000 11,620 EVER GOTESCO 0.29 0.295 0.305 0.315 0.295 0.295 9,080,000 2,723,900 FILINVEST RT 6.79 6.8 6.8 6.8 6.79 6.8 870,800 5,921,333 193,120 FILINVEST LAND 0.9 0.91 0.91 0.92 0.9 0.91 447,000 407,730 (36,450) GLOBAL ESTATE 0.85 0.86 0.85 0.85 0.85 0.85 8,000 6,800 8990 HLDG 9.2 9.51 9.27 9.66 9.2 9.2 39,000 362,734 111,670 PHIL INFRADEV 0.99 1.04 1.05 1.09 1 1.04 1,793,000 1,867,120 2,060 CITY AND LAND 0.71 0.72 0.72 0.72 0.71 0.71 33,000 23,460 14,910 MEGAWORLD 2.32 2.34 2.3 2.35 2.3 2.32 12,505,000 29,167,990 (7,781,100) MRC ALLIED 0.176 0.178 0.176 0.178 0.176 0.176 1,580,000 280,310 MREIT RT 15.7 15.96 16.04 16.04 15.66 15.96 1,522,400 24,211,432 (7,854,026) PHIL ESTATES 0.38 0.39 0.37 0.38 0.37 0.38 190,000 71,300 PRIMEX CORP 2.15 2.17 2.1 2.17 2.1 2.17 1,119,000 2,410,520 RL COMM RT 6.32 6.34 6.39 6.39 6.3 6.34 489,700 3,101,581 (1,629,708) ROBINSONS LAND 17.78 17.9 16.8 17.9 16.8 17.9 3,293,000 57,812,368 (1,078,364) ROCKWELL 1.25 1.31 1.31 1.31 1.25 1.25 30,000 39,240 1,250 SHANG PROP 2.56 2.6 2.6 2.6 2.6 2.6 5,000 13,000 STA LUCIA LAND 2.79 3.04 3.03 3.04 2.8 3.04 21,000 62,540 SM PRIME HLDG 36.9 37 36.9 37 36.3 37 6,298,300 231,653,510 (4,887,170) SUNTRUST RESORT 1.02 1.05 1.04 1.05 1.04 1.05 21,000 21,950 PTFC REDEV CORP 43.3 62.95 43.3 43.3 43.3 43.3 1,500 64,950 VISTA LAND 1.94 1.96 1.94 1.97 1.93 1.96 196,000 382,140 (183,400) VISTAREIT RT 1.74 1.75 1.76 1.76 1.74 1.75 234,000 408,960 (35,110)

Economic jitters to dampen investor appetite, says COL

By VG Cabuag

97.45

96.5

100

96.4

97.45

18,810

1,833,779.5

(105,433.5)

@villygc

he Philippines’s economic slowdown mainly due to higher consumer prices could hurt corporate profits in the remaining months of the second half, according to broker COL Financial Group Inc. However, the worst might soon be over as commodity prices are already falling and the recession in the United States will push the US Federal Reserve to stop hiking interest rates soon, said April Lynn L. Tan, the company’s first vice president and chief equity strategist. The Bangko Sentral ng Pilipinas has already raised its rates to keep up with the US Fed, which could mean that the peso would stop depreciating against the dollar. “An economic slowdown is still not good, no matter how you look at it. This will hurt corporate earnings growth, and could

be the reason why the market could stay depressed in the next six months,” Tan said during the company’s recent economic briefing. She said many investors are staying on the sidelines due to a lot of uncertainties in the market. For instance, the forecast earnings per share growth of the benchmark Philippine Stock Exchange index (PSEi) is still at 11 percent. That growth projection, she said, might not be achieved at all due to the slowdown of the Philippine economy. “As far as the new government is concerned, although you

‘High prices, Ukraine war threaten viability of LNG’ By Lenie Lectura @llectura

he viability of the liquefied natural gas (LNG) business in the country is unclear due to the spike in prices and the continued tension between Ukraine and Russia, according to the Institute for Energy Economics and Financial Analysis (IEEFA). “The country is entering the global LNG market at a time of SERVICES extreme uncertainty. Global ABS CBN 9.4 9.43 9.4 9.45 9.4 9.43 29,600 278,834 GMA NETWORK 10.28 10.3 10.3 10.36 10.2 10.3 339,400 3,479,850 LNG supply is constrained due MANILA BULLETIN 0.32 0.335 0.32 0.365 0.32 0.365 60,000 20,100 GLOBE TELECOM 2,054 2,056 2022 2,070 2,022 2,056 40,715 83,701,530 (10,231,850) PLDT 1,719 1,728 1654 1,737 1,650 1,728 111,910 191,856,600 29,270,755 partly to the Russian invasion APOLLO GLOBAL 0.035 0.036 0.035 0.036 0.034 0.036 80,700,000 2,822,900 (64,600) CONVERGE 20 20.05 19.02 20.3 19.02 20.05 13,669,600 272,330,559 63,164,490 of Ukraine, and LNG prices DFNN INC 3.5 3.51 3.64 3.64 3.41 3.51 451,000 1,584,030 16,790 DITO CME HLDG 3.81 3.83 3.74 3.85 3.73 3.81 1,520,000 5,796,010 85,300 continue to hit record highs,” NOW CORP 1.15 1.16 1.19 1.19 1.16 1.16 749,000 874,540 9,660 TRANSPACIFIC BR 0.27 0.275 0.27 0.275 0.265 0.27 940,000 252,950 it said. 2GO GROUP 6.23 6.4 6.49 6.49 6.23 6.4 1,200 7,625 CHELSEA 1.16 1.19 1.15 1.19 1.15 1.19 82,000 96,100 Current LNG prices of roughCEBU AIR 41.4 41.5 41.8 41.8 41.2 41.4 63,100 2,612,070 (643,985) INTL CONTAINER 185.6 188 184 189 183 188 966,870 180,728,290 (10,876,718) LBC EXPRESS 18.22 21.85 18.22 18.22 18.22 18.22 100 1,822 ly $35 per British thermal unit MACROASIA 4.19 4.22 4.25 4.25 4.16 4.23 244,000 1,028,060 7,640 PAL HLDG 5.54 5.84 5.51 5.54 5.51 5.53 9,900 54,733 (11,060) (MMBtu) would result in a powHARBOR STAR 1.13 1.14 1.09 1.14 1.08 1.14 634,000 699,810 (21,800) ACESITE HOTEL 1.36 1.69 1.36 1.36 1.36 1.36 2,000 2,720 er price of nearly P12.33-15.70 BOULEVARD HLDG 0.075 0.076 0.077 0.078 0.075 0.075 27,860,000 2,118,240 (35,310) DISCOVERY WORLD 1.62 1.7 1.6 1.7 1.6 1.7 8,000 13,500 1,700 per kilowatt-hour in the PhilGRAND PLAZA 10.12 13.92 10.06 10.12 10.06 10.12 200 2,018 WATERFRONT 0.46 0.47 0.45 0.48 0.45 0.47 2,030,000 955,300 CENTRO ESCOLAR 6.56 6.87 6.88 6.89 6.86 6.86 2,400 16,491 ippines. “This is already much IPEOPLE 6.01 6.95 6 6.5 6 6.5 1,100 6,700 STI HLDG 0.315 0.32 0.325 0.325 0.315 0.315 2,010,000 644,150 (190,500) higher than the country’s averBELLE CORP 1.19 1.2 1.2 1.2 1.19 1.19 640,000 766,800 (414,840) BLOOMBERRY 6.1 6.19 6.02 6.19 5.95 6.19 4,041,900 24,599,375 (7,942,235) age price for power, even before PACIFIC ONLINE 1.38 1.48 1.37 1.37 1.37 1.37 2,000 2,740 LEISURE AND RES 1.42 1.43 1.45 1.45 1.44 1.44 549,000 795,210 633,030 adding any capital costs to build PH RESORTS GRP 0.77 0.78 0.77 0.78 0.77 0.77 642,000 494,830 PREMIUM LEISURE 0.405 0.41 0.415 0.415 0.41 0.41 1,420,000 582,400 4,150 PHILWEB 3.33 3.36 3.44 3.44 3.31 3.36 2,924,000 9,761,940 (2,580,250) the power plant,” said IEEFA. ALLDAY 0.3 0.305 0.3 0.305 0.295 0.305 8,270,000 2,473,350 (3,000) ALLHOME 4.96 5 4.85 5 4.85 5 725,000 3,617,500 (62,980) Asian spot price for LNG METRO RETAIL 1.45 1.47 1.48 1.48 1.45 1.45 208,000 302,670 PUREGOLD 30.1 30.2 30.15 30.45 29.95 30.1 752,800 22,750,815 274,475 last March reached $84.76 per ROBINSONS RTL 56.85 57.1 56.8 57.1 56.65 57.1 546,340 31,113,253 17,244,506.5 PHIL SEVEN CORP 64 65.3 65.3 65.3 65 65.3 620 40,441 (39,135) MMBtu, more than 15 times SSI GROUP 1.4 1.41 1.38 1.4 1.32 1.4 1,752,000 2,389,930 526,890 WILCON DEPOT 27 27.2 27.5 27.8 26.7 27 1,516,800 40,946,020 24,628,590 the price in March 2021. Prices, APC GROUP 0.191 0.2 0.2 0.2 0.2 0.2 10,000 2,000 MEDILINES 0.72 0.73 0.75 0.75 0.73 0.73 736,000 539,460 3,730 PRMIERE HORIZON 0.4 0.415 0.405 0.415 0.4 0.4 1,900,000 773,550 (162,550) it said, are expected to remain MINING & OIL high until at least 2026, when ATOK 6.8 6.9 7.03 7.04 6.8 6.9 162,200 1,132,970 APEX MINING 1.55 1.56 1.52 1.56 1.51 1.56 1,745,000 2,692,310 significant new supply capacity ATLAS MINING 4.7 4.71 4.6 4.8 4.51 4.71 820,000 3,820,820 BENGUET A 4.98 5.03 5.01 5.05 4.92 5.03 105,700 526,463 comes online. BENGUET B 5.03 5.04 4.9 5.07 4.9 5.04 65,400 322,146 COAL ASIA HLDG 0.191 0.232 0.201 0.201 0.2 0.2 250,000 50,150 CENTURY PEAK 2.68 2.71 2.7 2.7 2.69 2.7 237,000 639,400 While some LNG importing FERRONICKEL 2.39 2.4 2.3 2.4 2.3 2.4 1,905,000 4,491,350 (33,270) LEPANTO A 0.136 0.139 0.136 0.138 0.136 0.136 880,000 120,380 countries have secured longLEPANTO B 0.133 0.138 0.138 0.138 0.138 0.138 10,000 1,380 MANILA MINING A 0.0095 0.0098 0 0.0097 0.0098 0.0096 0.0096 36,000,000 346,800 term purchase contracts, which MARCVENTURES 1.45 1.46 1.4 1.46 1.4 1.46 3,628,000 5,209,220 (97,800) NICKEL ASIA 6 6.01 5.7 6.06 5.7 6.01 14,047,300 83,331,635 22,131,069 require sellers to deliver LNG on ORNTL PENINSULA 0.81 0.82 0.73 0.82 0.73 0.82 3,460,000 2,731,520 (89,070) PX MINING 3.19 3.2 3.23 3.23 3.19 3.19 894,000 2,862,910 (500,500) a predetermined schedule and SEMIRARA MINING 40.55 40.6 40.15 41 40.15 40.55 6,898,100 281,394,515 66,029,545 UNITED PARAGON 0.0059 0.006 0.006 0.006 0.0059 0.0059 2,000,000 11,900 (5,900) ACE ENEXOR 13.98 14 13.86 14 13.7 13.98 125,500 1,742,620 price formula, the Philippines ORNTL PETROL A 0.01 0.011 0.011 0.011 0.01 0.011 42,100,000 446,600 ORNTL PETROL B 0.011 0.012 0.012 0.012 0.012 0.012 1,200,000 14,400 1,200 does not have any long-term PXP ENERGY 5.86 5.97 6.01 6.08 5.81 5.98 217,800 1,303,625 contracts, IEEFA said citing the PREFFERED HOUSE PREF B 85 98.5 98.5 98.5 98.5 98.5 80 7,880 International Energy Agency’s AC PREF B2R 496.4 500 496.4 496.4 496.4 496.4 20,590 10,220,876 CEB PREF 41 41.9 41 41.95 41 41.9 3,300 138,070 125,770 CPG PREF A 100.5 101 101 101 101 101 100 10,100 recent gas market update. EEI PREF B 106 107 107 107 107 107 8,000 856,000 MWIDE PREF 2A 94.25 98.65 98.95 98.95 98.95 98.95 10 989.5 “This means that the country MWIDE PREF 4 95.1 99 98 99 98 99 10,000 984,600 PNX PREF 3B 79.25 80 89 89 79 80 35,540 2,847,685 (200,000) will be forced to outbid wealthy PNX PREF 4 688 697 680 699 650 697 4,130 2,812,495 174,070 PCOR PREF 3A 1,035 1,037 1035 1,037 1,035 1,035 6,600 6,831,100 buyers in Europe and Northeast PCOR PREF 3B 1,052 1,060 1060 1,060 1,060 1,060 55 58,300 SMC PREF 2F 76.1 76.5 76.5 76.5 76.5 76.5 20 1,530 SMC PREF 2H 75.2 75.4 75.2 75.2 75.2 75.2 5,100 383,520 Asia for limited LNG supplies, SMC PREF 2K 71.2 73.9 73.9 73.9 73.9 73.9 100 7,390 TECH PREF B2D 55.25 55.8 55.25 55.8 55.25 55.8 1,120 61,891 exposing the country to high PHIL. DEPOSITARY RECEIPTS prices and extreme volatility. GMA HLDG PDR 10.04 10.5 10.5 10.5 10.48 10.5 27,400 287,658 232,042 Without access to affordable WARRANTS TECH WARRANT 0.69 0.71 0.68 0.71 0.67 0.69 1,453,000 999,580 (8,840) fuel, LNG-to-power proposals SMALL & MEDIUM ENTERPRISES BALAI FRUITAS 0.67 0.68 0.68 0.69 0.68 0.68 2,062,000 1,409,810 (7,480) in the Philippines could be deCTS GLOBAL 1.01 1.02 1.03 1.03 1.01 1.02 2,226,000 2,270,910 HAUS TALK 0.85 0.87 0.88 0.88 0.85 0.85 15,000 12,840 layed, cancelled, or stranded,” ITALPINAS 0.7 0.73 0.73 0.74 0.71 0.73 463,000 332,830 (192,520) MERRYMART 1.22 1.23 1.24 1.28 1.23 1.23 599,000 743,440 30,920 it said. XURPAS 0.3 0.31 0.3 0.315 0.3 0.31 200,000 60,250 The Philippines is expected EXHANGE TRADE FUNDS FIRST METRO ETF

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to import its first ever shipment of LNG this year. However, IEEFA noted that “inability to buy LNG at competitive rates could leave new terminals and LNG-fired power plants unused and stranded. Meanwhile, the rapid deployment of low-cost domestic renewables means that the window of opportunity for LNG investments is “closing quickly.” According to a recent report from the Center for Energy, Ecolog y, and Development, the Philippines has 36.5 million tons per annum (mtpa) of LNG import terminal capacity under development, along with 29.9 gigawatts (GW) of gas-fired power projects. “Risks surrounding limited global LNG supply and exorbitant costs are expected to persist over the next decade. If passed on to consumers, high imported fuel prices would result in higher power prices for Filipino household and businesses, potentially stunting economic development. Domestic renewables, meanwhile, can deliver low-cost power at scale, as demonstrated by the recent success of the Green Energy Auction Program. If held annually, the auction could significantly reduce the country’s need for new LNG capacity over the next decade. As the Philippines accelerates its transition to clean energy, LNG assets are likely to become more uncompetitive and unnecessary,” it said. Six LNG projects have secured the green light of the Department of Energy (DOE). These are FGEN LNG Corp.’s Interim FRSU and LNG terminal, Linseed Field Power Corp.’s FSRU and onshore regasification, Energy World Corp.’s LNG storage and regasification terminal project, the FSRU LNG terminal of Excelerate Energy L.P., the FSRU terminal project of Shell Energy Philippines Inc., and the FSRU terminal of Vires Energy Corp.

do have highly qualified economic managers, the fiscal space is very limited (due to the high debt-to-GDP ratio at 60 percent). The government has less room to pump prime the economy and it would be vulnerable to a potential ratings downgrade and higher funding costs for everyone in the country,” she said. Tan, however, said she is still optimistic about the countr y’s long-term prospects as the market has already priced in the potential earnings downgrades of the corporates that may continue through next year. The underlying stocks, meanwhile, are at very cheap levels that companies themselves have launched their own buy-back program, which show confidence in their long-term outlook. “Among different asset classes, we think bonds and REITs [real estate investment trusts] will perform best in the short term because

mutual funds

of their steady interest income/ dividends, which are more valuable in a falling interest rate environment,” she said. Juanis G. Barredo, the broker’s chief technical analyst, said the current rally in the market may be temporary and could be just an offshoot of a bear market, as their technical readings still show a downtrend. A bear market occurs when a particular index falls 20 percent since the start of the year. “One thing that is still very clear to me is that the downtrend of the market is still very much in place,” he said. The main index is seen to move between 6,150 points to 6,450 points in the coming weeks, after which it can go as high as 6,800 for the year. Support price for the main index is at 6,130 to 6,050 through 5,800. The PSEi gained 50.27 points on Tuesday to close at 6,362.30 points.

August 2, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities (shares) ALFM Growth Fund, Inc. -a 200.23 -1.1% -9.36% -6.07% -14.1% ATRAM Alpha Opportunity Fund, Inc. -a 1.3064 -3.67% -7.46% -3.91% -21.5% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7538 -1.35% -12.92% -8.59% -14.95% Climbs Share Capital Equity Investment Fund Corp. -a 0.6944 -5.7% -10.51% n.a. First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6606 -7.39% -9.54% n.a. -14.31% First Metro Save and Learn Equity Fund,Inc. -a 4.5612 1.93% -6.39% -4.09% -11.99% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6782 1.98% -8.79% -6.79% -13.42% MBG Equity Investment Fund, Inc. -a 76.51 -20.24% -14.11% n.a. -18.98% PAMI Equity Index Fund, Inc. -a 41.6155 0.85% -7.95% -4.47% -13.53% Philam Strategic Growth Fund, Inc. -a 428.61 -1.58% -8.38% -4.82% -14.4% Philequity Dividend Yield Fund, Inc. -a 1.1985 10.73% -3.95% -1.8% -11.63% Philequity Fund, Inc. -a 31.6568 1.52% -7.22% -3.62% -13.49% Philequity MSCI Philippine Index Fund, Inc. -a 0.8192 2.2% -8.37% n.a. -12.98% Philequity PSE Index Fund Inc. -a 4.3126 1.86% -7.31% -3.83% -13.07% Philippine Stock Index Fund Corp. -a 718.64 1.47% -7.37% -3.9% -13.26% Soldivo Strategic Growth Fund, Inc. -a 0.6311 -3.09% -12.73% -6.98% -16.14% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.1972 -1.67% -10.36% -5.55% -15.32% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8179 1.18% -7.66% -4.16% United Fund, Inc. -a 3.0021 0.72% -7.63% -3.3% -12.66% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 0.9946 -2.38% n.a. n.a. -14.46% Philippine Stock Index Fund Corp. -a 874.73 n.a. n.a. n.a. n.a. Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 96.8278 1.84% -7.18% -3.53% -13.14% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.9111 -23.93% -2.07% -2.46% -19.12% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5132 -16.93% 4.77% 5.03% -18.05% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.5649 -4.32% -3.92% -2.52% -7.51% ATRAM Philippine Balanced Fund, Inc. -a 2.1197 0.6% -3.45% -2.2% -7.09% First Metro Save and Learn Balanced Fund Inc. -a 2.4927 1.4% -2.61% -1.25% -7.37% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1935 5.68% n.a. n.a. NCM Mutual Fund of the Phils., Inc. -a 1.8669 -0.22% -1.75% -0.43% -7.43% PAMI Horizon Fund, Inc. -a 3.3832 -3.42% -4.07% -2.02% -10.14% Philam Fund, Inc. -a 15.0293 -4.21% -4.43% -2.25% -10.78% Solidaritas Fund, Inc. -a 1.9412 -0.91% -3.79% -2.04% -8.49% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2609 -2.26% -6.29% -3% -10.59% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8566 3.49% -5.47% -2.37% -10.23% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9082 -4.15% -4.33% n.a. -8.24% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8139 -3.49% -7.64% n.a. -13.83% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8019 -2.78% -7.99% n.a. -14.13% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03429 -10.4% -2.97% -0.86% -9.62% PAMI Asia Balanced Fund, Inc. -b $0.9228 -16.31% -2.53% -1.7% -13.52% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0701 -14.92% 2.39% 3.19% -15.24% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0401 -13.81% -0.99% 0.35% -13.22% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 374.7 0.43% 2.1% 2.31% 0.11% ATRAM Corporate Bond Fund, Inc. -a 1.8961 -1.48% -0.19% 0.12% 0.6% Cocolife Fixed Income Fund, Inc. -a 3.2425 0.23% 1.98% 3.28% -0.05% Ekklesia Mutual Fund Inc. -a 2.1849 -3.73% -0.27% 0.77% -2.96% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4076 -1.5% 1.04% 1.69% Philam Bond Fund, Inc. -a 4.2022 -6.52% -0.44% 0.59% -4.4% Philam Managed Income Fund, Inc. -a 1.3121 -0.51% 2.21% 2.65% -0.53% Philequity Peso Bond Fund, Inc. -a 3.9034 -2.01% 1.7% 2.35% -1.57% Soldivo Bond Fund, Inc. -a 1.0151 -2.25% 2.33% 1.78% -1.27% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.148 -2.19% 1.57% 2.71% -1.24% Sun Life Prosperity GS Fund, Inc. -a 1.7019 -2.85% 0.71% 2.02% -1.66% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $482.36 -0.96% 1.57% 1.76% -1.47% ALFM Euro Bond Fund, Inc. -a Є211.3 -4.09% -1.2% -0.06% -3.96% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1016 -8.05% -2.5% -0.46% -8.5% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.9% -1.72% -0.49% PAMI Global Bond Fund, Inc -b $0.919 -12.27% -5.47% -3.12% -10.15% Philam Dollar Bond Fund, Inc. -a $2.2639 -9.95% -1.31% 0.3% -9.65% Philequity Dollar Income Fund Inc. -a $0.0606945 -3.79% 0.69% 1.17% -2.56% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8636 -10.07% -2.55% -1% -10.41% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.36 1.5% 2.17% 2.54% 0.89% First Metro Save and Learn Money Market Fund, Inc. -a 1.0649 1.04% 1.53% n.a. Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3277 1.59% 2.05% 2.46% 0.92% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0647 0.62% 1.11% n.a. 0.39% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 45.2605 n.a. n.a. n.a. n.a. Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2763 -3.63% n.a. n.a. Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.842 -14.95% n.a. n.a. -13.2%

-8.21%

-13.4%

-7.42%

-0.76%

-6.54%

0.68%

-7.71%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU."

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Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, August 3, 2022 B3

From fish balls, Pampanga’s Mekeni starts selling tocino in US mainland

By Noel G. Tulabut

EW YORK CITY—Following the retail success of its marine products that are selling briskly in the West Coast, Poracbased food processor Mekeni Food International (Mekeni) has continued to penetrate the US market as it starts to sell its tocino product and bring the rest of its products at the same time in Northeast America.

From selling kikiam (also known as fish rolls) and fish balls in California and Nevada in January this year,

it will now sell the same products in the neighboring states of New Jersey and Connecticut and other parts of

Northeast America. “We want our kababayans, especially those who have not gone back to our country, to feel closer to home by bringing our products. And we hope, that somehow helps them cope with homesickness,” Mekeni president Prudencio Garcia said. The multi-awarded food maker recently distributed treats to about 100 nannies, caregivers and housekeepers as it gave away bags containing kikiam, fish ball and tocino. They were distributed during “Pagpupugay,” a first-ever tribute to care service workers in Northeast America organized by the Philippine Consulate General New York with Mekeni and other partner organizations. Consul General Elmer G. Cato welcomed this latest business venture by the Porac-based food company. “It is just the beginning for Mekeni. Our fellow Filipinos here can expect more products from us in the

Mekeni Food International President Prudencio Garcia (right) presents sample products to Consul General Elmer Cato at the Philippine Center in New York City, USA. Mekeni also distributed bags of tocino, kikiam and fish balls to some 100 nannies, caregivers and housekeepers who were given tribute by the Philippine Consulate in an event dubbed as “Pagpupugay.” Contributed photo

future,” concluded Garcia during the awarding of Gawad Alab ng Lahi organized by Hiraya Foundation and the Philippine Consulate General New York. In January this year, Mekeni started to sell its marine products in

the states of California and Nevada through its partner Island Pacific. It has since gained high patronage by the Fil-Am communities in various parts of the West Coast. Bringing food products to the US was met with enthusiasm by the Fil-

Am communities. In its FB account, grocery chain Island Pacific posted: “They (Mekeni) deliver the best-tasting and most authentic Flat Fish Ball and Kikiam in the market! Mekeni Fishball and Kikiam is 100 percent made in the Province of Pampanga and has been the most dominant street food brand in the market. Mekeni food products can be bought at Island Pacific Stores stores in Hayward, Long Beach, Temecula, Santa Clarita, Cerritos, Elk Grove, Pittsburgh, Vallejo, Union City, Fresno, National City, Oxnard, Canoga Park, West Covina, all in California as well as in Las Vegas, Nevada. In the East Coast, dealership inquiries and orders, can be made with NorthRidge Foods at 626-7890715 and northridge8@gmail.com or Ms. Rita Calubayan of CEE Enterprises Inc. located at 4201 Tonelle Avenue, North Bergen, NJ 08047.

Pinay entreps graduate from I-WE’s T2T program Filipino entreps, Asian peers

ndian Women in Enterprise (I-WE), a nonprofit organization centered on empowering women professionals, concludes the first run of Tech2Transform (T2T), a program that equips women leaders and entrepreneurs with the capacity to grow and develop their businesses. 27 Filipina entrepreneurs graduated from all over the Philippines, while its top 10 finalists and 4 business projects received awards and distinction at a graduation event held at Marriott Hotel Manila presided by the Honorable Indian Ambassador to the Philippines Mr. Shambhu S. Kumaran and Department of Trade and Industry Undersecretary for Regional Operations Blesila A. Lantayona. The event also celebrates the 70th anniversary of the Philippine-India Treaty of Friendship, which was signed to strengthen existing relations between the two nations. T2T participants went through seven learning sessions that focused on digital marketing, writing effective business plans, financial forecasting, data tools for monitoring, and e-commerce for growth, and shared best practices for micro, small and medium enterprises (MSMEs) in the Philippines. Throughout the program, participants learned how to utilize digital transformation to sustain and scale their businesses to support the economic revival of a post-pandemic market. Kumaran said “I-WE’s Tech2Transform program is a pioneering effort. The idea of Indian entrepre-

Indian Ambassador, Shambhu S. Kumaran, with the program winners of Tech2Transform.

neur ecosystem learnings being used to drive Philippine MSME entrepreneurial activity is a highly scalable idea and transcends technology. As a jury member, I was happy with the quality of MSME contestants and the winners. I am looking forward to making this initiative scale up faster and wider with the Foundation’s commitment to building MSME ecosystems, globally” All participants were required to submit a detailed business strategy for their capstone project, which was judged by Mr. Eric Caeg, President of International Council for Small Business (ICSB), and Mr. Samir Sathe, EVP of Wadhwani Foundation, India. The top four participants of the program were also awarded during the ceremony for their business plans: Ericka Evangelista of the Ericka Evangelista House of Fashion for Most Committed to Transform, Franz Badong-Repuyan, of RuyagPH for Best Business Strategy, Jennifer Subang of

Agridom Solutions Corp. for Best in Digital Marketing, and Ellenita Red of ART-E Fashion Store for Best in ECommerce Strategy. The winner Ms. Erica will now be eligible to join the “Wadhwani Liftoff” program and will be trained for 14 weeks with win an all-expensepaid trip to Silicon Valley, which will give her a chance to pitch her business plans to potential investors. All the winners also received a cash prize, trophy, and certificate from Esquire Financing Inc. Furthermore, participants Nisha Alicer, Franz Badong-Repuyan, and Jennifer Subang, who have shown expertise in agriculture and sustainable products, will be the first of the batch to undergo mentorship from industry leader Atlantic Gulf & Pacific (AG&P). As part of its ESG (environmental, social and governance) efforts, AG&P will focus on teaching best practices for building and developing sustainable businesses, along with investor relations, and

digital marketing to sustain business development. I-WE president, Priya Murugesan said, “We are proud to celebrate the culmination of our first run of Tech2Transform as well as the 70th anniversary of the Philippine-India Treaty of Friendship. Harnessing the potential and capabilities of Filipino and Indian women, we commit ourselves to cement the good relationship between our two countries and drive economic growth for all aspiring women. As we continue to grow our organization, we aim to reach and support more women leaders and entrepreneurs in their journeys to success through our humble initiatives.” T2T Project Leads Dr. Sharon Vaswani and Indu Badlani added, “For many women, the T2T program is the first key step in their journey as independent entrepreneurs and we are proud to assist and guide them as they start a daunting yet exciting new endeavor.” Applications for the second run of T2T will open in early this month for 50 women MSME business leaders. For the run of the first T2T program, I-WE partnered with the Embassy of India (Manila), Esquire Financing Inc., Wadhwani Foundation, Atlantic Gulf and Pacific Co., LGo Connect, Prosperna, UnionBank GlobalLinker, Startup Village/Match, Philippine Center for Creative Imaging, NextPay, Women’s Business Council (Philippines), Women Strong Network, In Touch Community Services, and Workbank.

Daang Katutubo: Ex-OFW set up self-sustaining café By Hilda Austria Philippine News Agency

GUILAR, Pangasinan—Wake up to a view of the sky and mountain ranges, sipping a cup of brewed coffee, hot or iced, and feasting on fresh vegetables and fruits at the Daang Katutubo coffee shop at Sitio Mapita, Barangay Laoag in this town. The coffee shop, which has become a tourist attraction since it opened to the public in 2021, is owned by a family of former overseas Filipino workers (OFW) from Qatar. Junely Cortez, the owner of the café who is also overseeing its operations, said they are aiming to make the place fully self-sustaining. “We are targeting that someday in the near future, all of our vegetables, fruits, and even the fish and meat will come from our own farm,” Cortez said. He said some of the vegetables and fruits they use as ingredients for their dishes come from their farm. “We plant vegetables and fruits that

are common ingredients in our food. We even started culturing ‘hito’ (catfish) in our pond,” he added. At first, their coffee was produced solely on the farm. However, they needed to source it from other suppliers from the Mountain Province when demand for it increased. Cortez said the idea for the café began during the lockdowns at the height of the pandemic in 2020. “Due to the lockdowns, we decided to live in the mountains, away from people. While we are on our farm, we seldom go outside. We only buy condiments since we have fruits and vegetables, chickens, and eggs on our farm, and even fish as we have a lake nearby,” he said. He admitted that giving up his career as a military nurse to be an entrepreneur was at first daunting but it became worthwhile along the way. “My parents (Francisca and Tito) were former OFWs. My mom had a mild stroke. She was a former nurse and my dad was an architect in Qatar, as well. When they retired here, they asked me to just stay in

the country since they are already of old age,” he said. Cortez was a military nurse in Qatar for 15 years. He was on vacation when the lockdown was imposed in the country and he was unable to return for seven months. Given his parents’ request, Cortez returned to Qatar only to file his resignation. He is now staying in the country for good with his wife, Norlyn, and their three children. Cortez said the café was born as a simple hang out for tourists who visit the view deck of Sitio Mapita where the Daang Katutubo road is situated, as well as the Mapita Falls. “We just want to offer some area where they could rest after going to the view deck and comfort rooms. But then people were demanding food later on, so we started selling food and coffee as well,” he said. The café has become a tourist attraction and Cortez and his family further developed the area, seeing its potential. Cortez’s father, Tito, designed the place. They used lumber from the trees they planted on their farm in the con-

struction. “Last year, we opened it as Daang Katutubo Coffee Shop, naming it after the Daang Katutubo road, and more people are coming every day,” he said. The place offers glamping (glamorous camping) to their visitors for as low as P400 to P800 for 12 hours. “We are also hosting events and prenuptials photo shoots. We are also building an infinity pool and spa as added amenities,” he said. Reynald Zacharias of San Carlos City said he has fallen in love with the place that he keeps returning to it. “I have tried glamping with friends and it was a beautiful experience. I get to see a lot of stars and the sunrise is so beautiful. This is my third time going here. I really like the view and the food is delicious while the staff is very accommodating. It is just so relaxing here,” he said. Zacharias brought his friend Jessica Galicia on his recent visit to the place. “I think I will go back here again,” Galicia said.

join PHL-Vietnam trade show By Roderick L. Abad drik_28 Contributor

@ro-

IMELY to the reopening of the meetings, incentives, conventions and exhibitions (MICE) industry amid the easing of pandemic restrictions in the country, local entrepreneurs and their counterparts from Vietnam and some parts of Asia recently showcased their beauty, fashion and food products in the Philippine-Vietnamese Fair that was held at The Plaza of Newport World Resorts in Parañaque City from July 29 to 31. ArtisteSpace Inc. Managing Director Anton Magpantay bared that they have reached the threeday event’s estimated total economic value of P3 million. “[The] MICE [sector] is slowly picking up. This is a good start,” he told the BusinessMirror during the opening day. “It’s a good economic driver because they’re providing employment also [like for Filipino translators hired by Vietnamese exhibitors]. That’s what MICE does.” The event was graced by 14 Filipino exhibitors and their 14 Vietnamese counterparts, showcasing their food, fashion and lifestyle products, respectively. Other foreign delegations—one representative from India, South Korea and Japan—also joined the fair to add variety to the offerings. Next to Korean and Japanese, he cited that Vietnamese food and beauty products are gaining ground in the domestic market. “That’s why you see a lot of pho, a lot of banh mi sandwiches in the last five or 10 years. If you notice, [there’s a] significant increase of Vietnamese restaurant and even coffee shops [in the country at present],” Magpantay noted. “Beauty and fashion-wise, I think they’re introducing new beauty products from Vietnam,” he said, while pointing out that Vietnamese women are known worldwide for having good skin. “And you know, for a fact, that Filipinos would always want to be fair in complexion. So that’s the potential that we see.” Initially testing the market after the government’s relaxation of the lockdowns and other health restrictions, the top executive was surprised by the daily traffic of at least 1,000 exhibit goers, mostly venue visitors as well as of-

fice workers and condo residents within the resort complex. With the massive turnout, some of the exhibitors actually already sold out during the opening, especially the ones coming from Vietnam, per Magpantay. He said: “They were kind of surprised with the demand.” Apart from sampling and buying the food and lifestyle products, visitors also had the chance to marvel at the colorful display of traditional Vietnamese and Philippine-made gowns and dresses from the Designer Circle Philippines with businesswomen from the Asia-Pacific 2022 during the culminating fashion show. Part of the proceeds of the event will be donated to ASPROFILPhilippines, a Filipino-Spanish nonprofit organization founded in 1996 to promote sustainable development and social welfare of the Filipino communities. “We are privileged to partner with groups who also value tradition and culture. Following this event will be another fair in Vietnam to be hosted by our partner, The Bliss Mimosa Beauty Corp., Ltd.,” he said. Magpantay expects the impressive turnout here to be the same for their upcoming trade event there in October given the improved trade relations between the two countries. “We have high hopes that this strategic partnership will strengthen our ties and will bring more exchange of culture and products with Vietnam,” he said. “I think there’s a market [for us there] because even Filipino soap operas are being watched in Vietnam. [So there’s already an] affinity [between the] Vietnamese and Filipinos.” The Philippine-Vietnamese Fair will become an annual event, he revealed, as they plan to expand it to other regions in the country, such as Cebu and Davao. “They can bring more product categories, not only limited to fashion, food and beauty, [but] maybe they can bring in other product categories like machinery, equipment and, perhaps, brands in Vietnam that could be looking for franchise owners here in the country because there are many small and medium enterprises and, hopefully, we can generate business, especially if they get [Filipino] distributors,” Magpantay said.

Banking&Finance BusinessMirror

Wednesday, August 3, 2022 • Editor: Dennis D. Estopace

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Pre-need plan sales boost sector’s H1 income By Bernadette D. Nicolas

HE pre-need industry generated a total net income of P901.6 million in the first quarter of this year, a reversal from its net loss in the same period last year.

Latest data from the Insurance Commission showed the pre-need industry showed more plans were sold by the industry in the first three months of this year, allowing it to bounce back from the P1.15-billion net loss it posted a year ago. Total number of plans sold from January to March this year hit 154,238, posting a double-digit growth of 14.91 percent from 134,225 in the first quarter last year.

Nothing is forever

Treasury auction marked by demand for long tenors

@BNicolasBM

“There is always some chance of recession in any year. But the evidence suggests that expansions don’t die of old age.”—Janet Yellen

UCH has been said about the turbulence in the global economy and in our country. The pandemic, the Ukraine war, the unstable price of oil, etc. are viewed as contributors to the unfavorable economic situation. Of late, there is even a debate if recession is already in our midst. In the United States, the National Bureau of Economic Research (NBER) is considered the official arbiter of when a recession begins and ends. It defines recession to “involve a significant decline in economic activity that is spread across the economy and lasts more than a few months.” The NBER relies on three criteria: depth, duration and diffusion or how deep, how long and how widespread is economic weakness. As a non-economist, I view the present situation as part of a business cycle where there are ups and downs. Recession or contraction or downturn is inevitable as there cannot be continuing growth. The when, how and to what extent the recession or any downturn may be “unknowable.” History will only tell where looking back, it may be a 20:20 vision. Comparisons to similar past occurrences are natural consequences. It is noteworthy to cite that in the unusual behavior of the economy, regulators have an important role to play. Of important considerations

Finex free enterprise Conchita L. Manabat are inflation rate, employment, business growth and/or contraction and reaction of financial markets. The regulators have their tools “to manage” the situation so the downturn may take a “soft landing.” The debate over whether or not we are in a recession will surely persist, and inevitably a recession will materialize. Expansions last far longer than recessions and/or contractions. Investors have generally been rewarded for their time in the market as against timing the market. From experience in past economic weaknesses, one should learn that prudence, patience and discipline are musts in riding the waves of economic downturns. After all, nothing is forever! Conchita L. Manabat is the President of the Development Center for Finance. A past President of FINEX and past Chair of the International Association of Financial Executives Institutes, she serves as the Chair of the IAFEI Advisory Council. She is a member of the Consultative Advisory Groups of the International Auditing & Assurance Standards Board and the International Ethics Standards Board for Accountants. The opinion expressed herein does not necessarily reflect the views of these institutions and BusinessMirror. Know more about #FINEXPhils through www.finex.org.ph.

However, of the 11 pre-need companies that submitted their financial performance report to the regulator, only three recorded net income in the first quarter of this year. Leading the list of pre-need companies in terms of total net income is Saint Peter Life Plan Inc. with P898.37 million, followed by Ayala Plans Inc. (P24.91 million) and Golden Future Life Plan (P2.4 million). Life plans formed the bulk of the

HE Bureau of the Treasury fully awarded P35 billion in new 3.5-year Treasury Bonds (T-bonds) as strong demand for longer tenors continued on Tuesday. Attracting total bids amounting to P106.3 billion, the bonds were more than thrice oversubscribed. Due to overwhelming demand for the tenor, the coupon rate settled at 5.25 percent, lower than the comparable secondary market rates of 5.363 percent for the security itself and 5.489 percent for the 4-year tenor. National Treasurer Rosalia V. De Leon attributed the strong demand

to the redemption of maturing debt papers. “Impressive auction results with strong demand coupled by lower rates versus secondary level compared with similar tenor,” De Leon said. “P37 billion in redemption also found a home in today’s offering.” To take advantage of the overflowing demand, the Treasurer said they opened the tap facility window for another P10 billion offering. In recent auctions, investors have been seeking higher yields as Philippine and American monetary officials have been raising rates to tame inflation.

total plans sold during the 3-month period at 153,943, growing by 15 percent year-on-year from 133,861. Pension plans, on the other hand, dropped by almost 19 percent to 295 from 364. Meanwhile, the pre-need industry saw its premium income from January to March this year hitting P4.87 billion, inching up by 2.3 percent from P4.76 billion. Likewise, its assets climbed by 10.4 percent to P111.9 billion from

Locally, Inflation hit a three-yearhigh in June at 6.1 percent, bringing the year-to-date figure to 4.4 percent. This is beyond the original target band for inflation by the Bangko Sentral ng Pilipinas at 2 percent to 4 percent. For this month, the Treasury is aiming to borrow P215 billion through the local debt market next month. Of the total, 140 billion in Treasury bonds (T-Bonds) and another P75 billion Treasury bills (Tbills) will be offered. Since the start of the auction this week, the Treasury has raised P50 billion. As of end-May, the national gov-

P101.38 billion in the first quarter of last year. The industry’s liabilities also grew by 8.9 percent year-on-year to reach P93.47 billion from P85.83 billion. Pre-need reserves, which include benefit obligations/payables as mandated by the Pre-Need Code (Republic Act 9829), stood at P89.76 billion during the period, rising by 9.17 percent from P82.22 billion as of end-March 2021.

ernment’s outstanding debt dipped to P12.5 trillion from a record high of P12.76 trillion as of end-April due to its repayment of a P300-billion short-term, zero-interest loan from BSP. The national government’s debtto-GDP ratio has also risen to a 17-year-high at 63.5 percent, above the internationally recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines. It is also the highest since the country’s debt-to-GDP ratio hit 65.7 percent in 2005 under the Arroyo administration. Bernadette D. Nicolas

Faster loan expansion swells Metrobank’s H1 profit By Bianca Cuaresma

growth, stable operating costs and lower provisions amid healthier asset quality. “The continued improvement in the bank’s performance cements our strategy as we enable various customers and businesses as economic activities,” Metrobank President Fabian S. Dee said. “Our focus on serving our client needs while actively managing risks and promoting efficiencies has driven our solid operating results and will continue to do so in the medium term as the economy expands.” The bank’s gross loans rose by 9 percent year-on-year to P1.3 trillion, led by a 12-percent growth in corporate and commercial lending and

@BcuaresmaBM

ETROPOLITAN Bank & Trust Co. (Metrobank) reported on Tuesday a 33-percent growth in its net profit in the first half of the year, as the bank noted improved performance across the board. The bank’s net profit grew to P15.6 billion in the first six months of 2022, as earnings surged by 95 percent to P7.6 billion in the second quarter. Metrobank said it has seen improvement in various areas such as faster loan expansion, improving interest margin, robust fee income

16-percent increase in gross credit card receivables. Asset quality also improved for Metrobank with non-performing loans (NPL) declining by 7 percent. The ratio of NPLs to total loans stood at 1.9 percent in the first half, down from the 2.3 percent a year ago and significantly below the industry’s 3.9 percent NPL ratio in May. Due to lower NPLs, the bank further trimmed down provisions by 46 percent in the first half. Metrobank’s NPL cover stood at 196 percent during the period. Meanwhile, total deposits grew 13 percent to P2.1 trillion. Current account/Savings account

(CASA) deposits climbed by 10 percent to P1.5 trillion from a year ago, which resulted in lower funding costs. Non-interest income also went up by 8 percent in the first half driven by an 18-percent jump in fees and other non-interest earnings. Despite volatile markets, the bank managed to post P3.4 billion profit from trading income from strong customerdriven flows. The bank’s stayed flat at P29.4 billion, backed by on-going efforts to improve operational efficiency, resulting in 53.8 percent cost-to income ratio, an improvement from the 57.2 percent posted in the same period last year.

DTI, PayMongo ink deal for MSMEs’ fund access Lender lets you park $300 in 90-day US time deposit T HE Department of Trade and Industry Regional Operations Group (DTI-ROG), through its Bureau of Small and Medium Enterprise Development (BSMED) and online payments company PayMongo Philippines Inc. signed an agreement to promote financial inclusion among micro, small and medium enterprises (MSMEs) through improved access to financial services. A statement by PayMongo said the partnership “aims to help MSMEs digitize their businesses through digital payment solutions, empowering them to accept online payments, manage their finances online and reach a wider market of online customers.” In order to extend the partnership’s reach, the DTI and PayMongo will disseminate educational content and facilitate demonstrations and webinars through the DTI’s regional offices. “Our mission to grow the internet economy of the Philippines

This photo courtesy of PayMongo Philippines Inc. shows DTI-Regional Operations Group Undersecretary Blesila A. Lantayona (left) and PayMongo CEO and Co-founder Francis Plaza (right) after the signing of an agreement between the two entities. CREDIT: PayMongo Philippines Inc.

means unlocking the success of Filipino MSMEs,” PayMongo CEO and co-founder Francis Plaza was quoted in the statement as saying. “For us, this starts with educating businesses about the value of financial services, then providing them with the right products to ease their

transition to e-Commerce.” Founded in 2019, PayMongo is a financial technology company that allows businesses in the Philippines to have a safe, seamless and secure way of accepting all types of online payments from their customers. These options include

credit and debit cards, e-wallets and online banking. Its services enable merchants to process payments with or without a website, regardless of their selling platform. The DTI, on the other hand, has primarily provided capacity-building workshops for beneficiaries active in various sectors as part of its attempt to encourage the growth of MSMEs in the digital space. This initiative is aligned with the trade department’s first strategic priority in upgrading, upskilling and upsizing MSMEs through digitalization and digital transformation. “DTI recognizes the need to encourage more MSMEs to digitalize their operations and bring their businesses online. Expanding the use of e-Commerce will provide MSMEs bigger markets, thereby increasing their sales and revenues,” DTI-Regional Operations Group Undersecretary Blesila A. Lantayona was quoted in the statement as saying.

By VG Cabuag

@villygc

UCHENGCO-led Rizal Commercial Banking Corp. (RCBC) has set a lower minimum placement to as low as $300 through an online foreign exchange product that converts Philippine peso to the greenback for investment in a 90-day US time deposit. RCBC Treasurer Alberto Magno N. Pedrosa said on Tuesday the bank hopes its product—called “Online FX”—to provide clients and potential investors another option to grow their funds through US dollars. The minimum investment of $300 is lower compared to the regular over-the-counter 90day US time deposit product currently being offered at RCBC Digital at $1,000. RCBC’s new US TD facility is an exclusive online forex product for investors exchanging their peso holdings to the greenback for investment purposes with a maximum daily limit of $10,000 per day, “giving peso based investors an opportunity to diversify their investments from pesos to US dollars all in the convenience of their time,” the bank said.

“Online FX” also allows consumers to also enjoy the same accessibility and convenience of online banking, the lender said. Clients who avail “Online FX” can also enjoy higher US time deposit interest rate of 0.75 percent versus the 0.50-percent peso time deposit interest rate for the same peso equivalent, Pedrosa said. As of March, RCBC is one of the largest private domestic banks in the Philippines in terms of assets and has a network of over 444 branches and 2,492 automated teller machines (ATM) and ATM Go units. RCBC’s retail products and services include transactional loans, mortgages, personal loans, online banking, credit card and checking and savings accounts. RCBC posted a consolidated net income of P2.1 billion for the first quarter, higher by 36 percent from last year’s P1.58 billion, buoyed by robust core business growth. Revenues reached P9.9 billion for the period, 19 percent higher than the previous year’s P8.31 billion. RCBC’s shares were last traded on Monday and closed at P19.96 per share.

BPI marks 171 years with focus on digitalization, customers, sustainability

HE Bank of the Philippine Islands (BPI) continues to focus on digitalization, customer obsession and sustainability efforts, as it celebrates its 171st year in August. With this year’s anniversary theme of “Make Obsession Visible in all Experiences,” the bank is determined to better serve the evolving needs of its clients and to further reinvent banking in the country. “As the pioneer bank in the Philippines and Southeast Asia, BPI has developed a long and rich history of banking excellence. It is a testament to our un-

wavering commitment to maintain the deep trust our clients have placed in us by being prudent, innovative and nurturing,” BPI President and CEO Jose Teodoro K. Limcaoco was quoted in a statement as saying. “We also always continue to adapt in order to meet our customers’ changing needs and the demands of an evolving economy.” This year, BPI is showing signs that its reinvention journey is moving in the right direction. The bank delivered strong financial results in the first half of 2022. BPI’s net income grew 73 percent year-on-year on higher revenues and

lower provisions. Revenues also rose by 20 percent on double-digit loan growth and expansion in net interest margin.

Digitalization journey

LAST year, BPI spent about P9 billion on technology, which included new digital initiatives such as building customer engagement platforms and investments in cybersecurity. BPI’s digitalization journey aims to reinvent customer interaction and experience. As of 2021, 4.9 million of its 8.46 million client base were enrolled in digital channels. The bank also has a growing list of over

80 Application Programming Interface (API) partners covering nearly 800 products and services, with over 100 million transactions in 2021 which is a 75 percent growth from last year.

Customer obsession

IN its 171st year in the business, BPI continues to reinforce its core values of “nurturing, acting with Integrity, being customer obsessed and acting with excellence” to remain relevant to its customers. “Customer obsession is a movement where we will be proactive in putting the

customer at the center of all that we do. We will change behavior, we will question policies, we will improve products and processes. We are taking concrete steps to lead a customer-obsessed organization,” Limcaoco said. Earlier this year, BPI merged with the BPI Family Savings Bank (BSFB), its wholly owned thrift bank subsidiary, to seize emerging opportunities and ultimately enhance the overall banking experience of its customers.

Sustainability agenda

SUSTAINABILITY is also an integral

part of BPI’s business. The Bank developed a unique formula: ESG+E2 which doesn’t only account for Environmental, Social and Governance (ESG) principles but also gives equal importance to Economic Benefits. BPI offers green financing for big and small projects related to energy efficiency, renewable energy and climate resilience. It also supports green buildings and sustainable agriculture. BPI is the first and only Philippine bank to commit to halve its coal financing in its portfolio by 2026 and reduce it to zero by 2032.

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Editor: Gerard S. Ramos

• Wednesday, August 3, 2022

How to like yourself more PHOTO BY CHARLIE HOWELL ON UNSPLASH

D UNDERGRADUATE students at the University of Nebraska Omaha collaborate on a group assignment for a STEM course. DERRICK NERO, UNIVERSITY OF NEBRASKA OMAHA

Women are better at statistics than they think By Jonathan B. Santo University of Nebraska Omaha WOMEN in statistics classes do better academically than men over a semester despite having more negative attitudes regarding their own abilities, according to our recent study in the Journal of Statistics and Data Science Education. Using data from more than 100 male and female students from multiple statistics classes, my colleague Kelly Rhea MacArthur and I assessed gender differences in grades over the course of a semester. As part of the study, students also answered surveys at the start and end of the semester that measured six different things: their fear of statistics teachers in general; their thoughts about the usefulness of statistics; their perceptions of their own mathematical ability; their anxiety in taking tests; their anxiety in interpreting statistics; and their fear of asking for help. Overall, we found that students with more negative perceptions of their own mathematical ability had lower grades over the course of the semester. What’s even more interesting are the gender differences that emerged. Even though men and women scored similarly on exams at the start of the semester, women finished the semester with almost 10 percent higher final exam grades. This was the case even though women had significantly worse attitudes about their mathematical abilities at the start of the semester than their male counterparts. At the beginning of the semester specifically, women were more likely to rate their mathematical abilities as lower than men in the class and report more anxiety toward exams and toward interpreting statistical findings. However, each of these self-assessments improved over the course of the semester such that women’s attitudes didn’t differ from men’s by the end. Meanwhile, the grades of male students who reported fear of statistics teachers or fear of asking for help decreased more sharply over the course of the semester. For men whose attitudes improved during the semester, grades also improved—though not as much as women’s grades improved. A number of studies have shown that from an early age, boys and girls learn math equally well. However, girls are less likely to be called on in math classes than boys, even when they raise their hands as much as boys do. Moreover, some teachers unconsciously grade girls’ math tests more harshly than boys’. By middle school, gender differences in math scores emerge. These factors may contribute to adult women’s being more likely to rate themselves as less mathematically skilled than men. As a result, women are also less likely to pursue STEM—science, technology, engineering and math—occupations. The results from our study, in line with others, bolster the notion that women have the potential to do as well as men, and even better, in STEM fields, such as statistics. We contend that women would benefit from additional mentoring to encourage them as they begin pursuing STEM-related education. The evidence above provides hints at some of the causes of the gender discrepancy in perceived ability. However, there is much we still don’t know. For example, why did the attitudes of the women in our study improve over time? Was it based on their confidence in their abilities as their grades improved, or did their statistics teachers influence their perception of their own abilities over time? More research is needed to understand exactly how women differed from men in their attitudes over the course of the school semester, among other questions. In particular, we’d like to disentangle exactly which classroom or instructor factors can lead to better attitudes among students, ultimately translating to better grades. THE CONVERSATION

O you like yourself? This is probably one of the questions people would shy away from, or would not know how to answer. While there are some who would confidently say they like themselves, others would admit they have not outgrown their selfconsciousness, or still carry within themselves the critical voices of their parents and friends. When your insecurities get in the way of relating with others, it becomes a stumbling block even to your professional growth. It limits your opportunities for knowing significant people in the organization and could even hinder you from discovering new ways of doing things and improving your work. How, then, can you like yourself more? You need to start with how you see yourself in relation to how others see you. Carefully examine how you react to others and what goes through your head when talking to them so you can further identify what is causing you to react or think that way. Your selfawareness will help you ground yourself, empathize better with others, and be more confident in your dealings with them. Knowing how you react gives you a better control of your emotions and thoughts, which in turn helps you deal with others better. To boost your self-worth and like yourself better, make a list of your achievements. Too often, we make so many demands on ourselves that we forget what we have already accomplished. Stop and take stock of what you have already accomplished so you can draw inspiration for your next ventures and remember the lessons from past experiences. There will be things you will not be good at anymore and that is okay. Nobody is perfect. Accept that personal or professional circumstances have stopped you from doing other things and that life has led you to another path. Some people linger in the past and forget to live in the present that they make unnecessary demands on themselves and from others just so they can relive their glory days. Accepting where you are in your life helps you to see what is good in your life right now, helping you appreciate and like yourself better. Stop comparing yourself to everybody. Your life is as original as it can get because nobody has the same life experiences as yours. The sooner you accept that who you are now is the product of the circumstances of your life and the decisions you have made, the sooner you will accept who you are. I am not saying that you should not improve yourself. What I am saying is that if you want to change, expect that change will not happen overnight, and that you might have to be deliberate and steadfast with your choices. One of the best things you can do now is to do something that you enjoy. We become more

comfortable in our own skin when we do something we like. Hobbies have a way of helping us reset and enjoying ourselves without feeling guilty. It re-energizes us and helps us become more attuned to our own well-being, and gives us a sense of accomplishment without having to work so hard for it. To help you see your good attributes, surround yourself with people who truly like you for who you are. True friends will accept you for who you are but at the same time, they will tell you of the things you need to improve. Being surrounded with people you can let your hair down will keep you grounded to who you really are and help you appreciate what you have accomplished. Learn to accept compliments. This was one of the most important lessons I learned from a missionary friend who was diagnosed with lupus. She taught me that we should thank people when they compliment us because it is a validation of what they see in us. Culturally, we tend to shy away and dismiss compliments. But accepting compliments is a way of owning the good thing said about us and at the same time, shows appreciation to the person who noticed. So when someone compliments you, accept it and thank the person. When things go awry and you cannot do anything about it, forgive yourself. A bad day at work does not mean you will fail at everything the entire time. These are temporary setbacks which can be remedied with persistence and practice. You need to let go and forgive yourself for things that have already happened. The

best thing you can do is to tell yourself you have done everything you could and then learn from the experience. Take the lessons with you and do your work better the next time. There will be times when failure will rear its ugly head but do everything you can to silence the critical voice inside you. More often than not, your family has the biggest influence in your life and it is not surprising that the critical voice that we hear is mostly from a loved one. It is not easy to do this but your list of accomplishments and some of the things above can silence it. When my hair started turning gray in my late 20s, I felt self-conscious because I felt it was too soon for me to have gray hair. There came a point where I felt it was too much maintenance and I just stopped coloring it. There were some who urged me to have it colored and there were some who thought my gray hair made me look more distinguished. At that time, I worked with managers and executives, and I felt it was to my advantage to keep the gray hair. Since then, I have not colored my hair. And I do not think I will color my hair ever again because I like it as it is. Liking yourself boils down to knowing your strengths and acknowledging that there are some things you still need to work on. It is being comfortable with who you are but keeping an open mind to improving yourself. You have to realize that people will always have a say in whatever way you live your life, so go ahead and go with what makes you happy. In the end, that is all that really matters. n

10 tips to improve your relationship with social media

TeCHNOLOgY, especially social media, is an innovative and helpful tool that makes life more convenient and enjoyable. However, it has become so entertaining and addicting that it became a challenge to close apps and switch off gadgets—eventually disconnecting us from ourselves and reality. To guide the public into healthier social-media use, philosopher, writer and poet Susanna Newsonen, the author of Notes on Self-Love, Happiness is Here and Screw Finding Your Passion, has shared her observations. “Our relationship with technology has become increasingly heavy and complex, adding weight to our shoulders that wasn’t there before,” she noted. “Some days, it feels like these advancements in tech have surpassed us and our ability to handle them.”

The Benilde Well-Being Center (BWC) of the De La Salle-College of Saint Benilde, along with Newsonen, believe that establishing a better and healthier relationship with social media is a choice. From the sought-after life coach, positive psychology practitioner and keynote speaker, here are some pointers from Psychology Today, the world’s largest mental health and behavioral science destination online: 1. BEDROOM IS A TECHNOLOGY-FREE ZONE. You and your body deserve a good night’s sleep. No scrolling means no dopamine that keep you awake. No screens means no blue light. This results in better sleep cycles. 2. START YOUR DAY BY BEING 30 MINUTES OFFLINE. Connect with yourself instead. Journal. Meditate.

Stretch. go for a jog. get some fresh air. Simply enjoy your morning tea, coffee or juice in complete silence and mindfulness. 3. DELETE PUSH NOTIFICATIONS. Unless you’re waiting for an important call, there is no reason to stay glued to your smartphone. Have dedicated times to check alerts. 4. LIMIT SCROLLING TIME. give yourself limited times to use social media. Don’t scroll out of boredom. 5. SOCIAL-MEDIA AUDIT. List all social-media platforms you use. Identify what you like about each one. Review what you don’t. Decide what you want to let go. 6. REVIEW THE ACCOUNTS YOU FOLLOW. Which ones inspire you, make you feel good or you like interacting with? Which ones are you following simply because they’re popular? You get to choose what you see on your feed. Make sure you produce a feed that motivates and informs you. 7. STOP FEELING THE PRESSURE TO POST. Just because people are doing it doesn’t mean you have to. You can post anything or nothing. Simply do whatever you feel like doing. Do it for yourself and not for the likes. Most importantly, be real. 8. END YOUR DAY BY BEING 30 MINUTES OFFLINE. Reflect on the things that you were grateful for in your day. Do another round of meditation. Simply read a good book. 9. HAVE AT LEAST ONE MORNING, AFTERNOON OR DAY OFFLINE EVERY WEEK. enjoy life the old-fashioned way: Hang out with friends. Cook. Bake. garden. exercise. No tablets. No TVs. No phones. 10. AUTOMATE REPLIES DURING HOLIDAYS. Have dedicated offline holidays. Disconnect from the online world. Set up vacation replies when you are out of town or on leave.

B6 Wednesday, August 3, 2022

SLAMCI continues performance streak amid pandemic

DSWD Chief joins PBBM visit to quake-hit areas; assures enough aid for victims

EPARTMENT of Social Welfare and Development (DSWD) Secretary Erwin T. Tulfo assured President Ferdinand Marcos Jr. that the Department has enough prepositioned food, non-food, and other relief items at the local level even prior to the magnitude-7.0 earthquake that hit some parts of Luzon on July 27. During the situational briefing in Bangued, Abra on July 28, Sec. Tulfo reported to the President that the Agency is ready and can quickly respond in times of crisis situations such as earthquakes. “We are [prepared], Sir. Basing on your instruction during the SONA, we already deployed food packs in the morning, on the same day as your SONA. Aside from food packs, we also prepositioned non-food items in the provinces, Sir. Like here in Abra, Sir, we have also prepositioned”, Sec. Tulfo said in his report to the president.

CAR update

IN the Cordillera Administrative Region (CAR), there are 1,000 Family Food Packs (FFPs) prepositioned in Apayao; 5,816 in Abra; 1,294 in Kalinga; 1,231 in Mt. Province; 1,060 in Ifugao; and 11,328 FFPs are available in the regional warehouse. All these are ready to be distributed to the affected families. Some 19,133 families or 77,614 individuals from the 228 barangays in CAR have been affected by the earthquake. Of these, 1,198 families are inside the evacuation centers. The DSWD Field Office-CAR has started

PRESIDENT Ferdinand Marcos, Jr. and DSWD Sec. Erwin Tulfo at Benguet, Abra. distributing cash assistance to the affected families and burial assistance to the bereaved families.

Region I update

IN Region I, a total of 11,765 families or 41,680 individuals from the 117 barangays in the region have been affected by the recent tremor. Some 682 families or 2,510 individuals are currently staying at the evacuation centers. As of press time, there are 9,147 FFPs prepositioned in the regional warehouses that can be extended to local government units as augmentation support. These include 1,404 FFPs in Vigan City, Ilocos Sur; 895 in Rosales, Pangasinan; 2,000 in Alaminos City, Pangasinan; 1,978 in

the Police Provincial Office Lingayen, Pangasinan; and another 1,978 in Santa Barbara, Pangasinan. The DSWD Field Office 1 is closely co ordinating with the Department of Science and Technology - Philippine Institute of Volcanology and Seismology (DOST-PHIVOLCS), Regional Disaster Risk Reduction and Management Council 1 (RDRRMC1), and Provincial Action Teams to continuously monitor and gather updates regarding the affected population and damages brought by the quake. DSWD-Field Offices in the affected regions continue to be on full alert status to assist the LGUs in their disaster operations and to identify other services that will help their constituents.

ESPITE the various challenges that the market has been experiencing and amid the continuing pandemic, Sun Life Asset Management Company, Inc. (SLAMCI) remained steadfast in upholding its commitment to be a partner to prosperity to its investors. SLAMCI shared the news following its recent Joint Annual Shareholders Meetings, held virtually last July 13, 2022. The company’s assets under management (AUM) continues to grow and hit PHP 179.5 billion by the end of December 2021 – its highest level since the company’s inception in the year 2000. Moreover, it is a 41% increase from the same period in 2020. Particularly notable are the performances of the Sun Life Prosperity World Equity Index Fund, which marked a return 25% only a year since its inception, and the Sun Life Prosperity World Voyager Fund, which beat its benchmark. The Sun Life Prosperity Dollar Advantage Fund was also recognized as the 2021 Best Managed Dollar balanced fund by CFA Society Philippines. Meanwhile, the Sun Life Prosperity Peso Starter Fund and the Sun Life Prosperity Dollar Starter Fund remain a favorite among investors for their liquidity needs. According to SLAMCI President Gerald Bautista, the company’s accomplishments are a testament to the trust and support of its 189,000 investors. “This is an exciting time to be investing and we are excited to walk this journey with our clients,” Bautista said. “All our efforts are inspired by our goal of being their worthy partner in their journey to prosperity, and we will be at their side every step of the way.”

SLAMCI President Gerald Bautista Bautista likewise commended the efforts of its 2,400 mutual fund advisors along with bank partners and broker partners. “They have been key to ensuring that Filipinos would be able to leverage the investment opportunities that surfaced in 2021,” he said. “We are grateful for their support and look forward to continuously working together towards our common goal: to be our clients’ partner to prosperity.” Complementing all the efforts are SLAMCI’s continued foray into digitalization. Account opening, investment top-ups, and monitoring all possible online through various channels. This promises a seamless experience, especially for those who are new to investing and would simply like to enjoy potentially higher returns than those offered in traditional bank products. “There may be headwinds at the moment, but as always, our focus is on the long-term,” Bautista said. “SLAMCI will make sure that investors will always be able to leverage the opportunities that will bring them closer to their financial goals.

TMP adds FX and Cargo variants to All-New Lite Ace lineup

Satisfy your chicken cravings and still save money

KFC‘s Colonel Ultimate Meal

VERYTHING is skyrocketing: oil prices, transport fares, utility bills,and sad to say, even food costs. But with all the struggles we are facing, we still hope that one day we will still be able to get back the usual comfort food and satisfy the cravings we have. After all, we still deserve permissible

indulgence, right? Fret no more, KFC has a new deal that could ease your financial woes while allowing you to still satisfy your cravings. The world-famous Colonel-inspired chicken chain offers you a deal you can’t refuse: food to enjoy as a meal now, save some for snacks for later, plus with significant savings guaranteed. The Colonel’s Ultimate Deal is a complete set of your faves, such as the two-piece OG/HC Chicken with Rice, Mashed Potato, Mushroom Soup, Zinger Sandwich, and Regular Iced Tea. It screams VALUE-FOR-MONEY and S-A-V-I-N-G-S in a scrumptious way. KFC is ALL IN with the new set meal. At just P279.00, you save as much as P160.00! Big hunger is a no-no with the Colonel’s Ultimate Deal - a meal now, and a snack later. This finger-lickin’ good ultimate deal’s got you covered without hurting your wallet! Order now! Just dial 88-87-8888, visit www.kfc.com.ph or download the KFC mobile app on Google Play or App Store to order. Yes, the struggle is real. But the Colonel has the Ultimate Deal. Enjoy this meal from July 19 to August 29, 2022. This is also available for Dine-in, Take out and Drive Thru.

R.O.X. launches bayanihan initiatives for local communities

AYANIHAN simply means, for the “bayan” or country. It has no direct English translation making it distinctly Filipino, threaded into the tapestry of our heritage- and it is this communal spirit that we shine a light on at R.O.X.’s event last July 27, at R.O.X. BGC High Street in Taguig. The devastation that the pandemic wrought has left many families in extremely challenging situations and R.O.X. has partnered with the ABS-CBN Foundation to better address the needs of the hardest hit communities. The ABS-CBN Foundation started in 1989 as a commitment of service to the Filipino people. When the late Gina Lopez took the helm of the foundation, her emphasis on corporate social responsibility programs for the environment and Filipino communities took center stage, often collaborating with companies to help in her initiatives. The Primer Group of Companies continues to work closely with Ernie Lopez (Director of Advocacy), Roberta Lopez Feliciano (Managing Director) and their teams to bring about significant change in local communities. Johnny Thai, Managing Director, on behalf of Primer Group of Companies, turned over 10 bikes to the ABS-CBN Foundation at the event. The bikes will be brought to Leyte to help boost their local tourism and in doing so, rebuild their economy. R.O.X. has also set up the Daluyong Exhibit, featuring art from the UP Mountaineers. This exhibit will be on display until September 4, and it showcases paintings and sculptures from unique perspectives, reflecting the diversity and creativity of Filipino expression. The proceeds from this exhibit will directly benefit the continuing rehabilitation of Siargao as it recovers from Typhoon Odette. Mr. Bubuy Fransisco, founder of the UP Mountaineers, also shared that part of the proceeds will be allocated to help

build the Sierra Madre Range to be the longest and safest trail in the Philippines. Tiffany Batungbacal, AVP Primer Group of Companies said, “We Filipinos might not have the biggest resources or the most advantages, but with the Bayanihan spirit alive and shared in the simple things that we do, we have everything we need to take our country to the next level, together”.

FROM LEFT TO RIGHT: Ernie Lopez, Director of Advocacy–ABS-CBN Foundation; Roberta Lopez Feliciano, Managing Director–ABS-CBN Foundation; Tiffany Batungbacal, AVP-Adventure PH Retail–Primer Group of Companies; Jonny Thai, Managing Director– Primer Group of Companies

OYOTA Motor Philippines (TMP) strengthens its support to Filipino micro small and medium enterprises (MSMEs) with the addition of two more variants of its newest light commercial vehicle, the All-New Lite Ace. After unveiling the Panel Van and Pickup variants during last month's launch, the Lite Ace line up dubbed by the automotive leader as Kasosyo sa Asenso is expanding with the introduction of the Lite Ace FX Utility Van and the Lite Ace Cargo Aluminum Van. Both variants are available for preorder in all Toyota dealerships nationwide starting August 1. The FX Utility Van-variant has up to 12-person seating capacity (including driver), perfect as people transport, while the Cargo Aluminum Van variant best fits agricultural businesses or transportation of dry goods and other materials. “We are very encouraged by the warm reception and positive product feedback that we received from customers when we released the first two variants of the All-New Lite Ace,” said Sherwin Chualim, TMP's First Vice President for Vehicle Sales

Operations. “One of the key strengths of the All-New Lite Ace line is its versatility and flexibility, and with the availability of the FX Utility Van and Cargo Aluminum variants, we will be able to address the needs of more entrepreneurs and business operators for efficient and economical transport.” The All-New Lite Ace lineup has quality safety features like SRS Airbags, Anti-lock Brake System (ABS), and Vehicle Stability Control (VSC). On top of this, both variants come with a 1.5L gasoline and are powered by 5-speed manual transmission, common among all the Lite Ace variants. Customers can also avail special MSME financing packages for these two variants through Toyota Financial Services Philippines (TFSPH). Official release is expected in September 2022. Visit toyota.com.ph/asenso for.more details. Download the myTOYOTA app for Andriod or iOS, or follow Toyota Motor Philippines on Facebook and Instagram, and ToyotaMotorPH on Twitter. Be part of Viber community at Toyota PH to get the latest updates.

Palawan trains and gets first batch of butlers

HE province of Palawan, consistently voted as World’s Best Island by prestigious international organizations and publications, finally got its first batch of butlers after the Department of TourismMimaropa Region recently held a butler training at Hotel Centro Puerto Princesa City. DOT assistant secretary Christopher Morales said that the training is part of its Upscaling Hotel Services which seeks to create a corps of competent butlers who will provide world-class service and experience to VIP guests. The training had 26 participants from DOT-accredited hotels in Puerto Princesa, as well as luxe resorts Banwa Private Island Resort in Roxas, and Lihim Resort in El Nido. Dubbed as the “Gentleman’s gentleman”, the butler provides highly-personalized service which is powerful, dynamic and seeks to exceed guest expectations and translate to customer loyalty. Resource persons included ASEAN Master Trainer Dr. Santos Buenvenida and Hotel Centro operations manager

DOT Mimaropa regional director Atty. Bevienne Malateo and chief tourism operating officer Cecil Aranton being served by butler trainees. Art Cayanan, who once served as butler to Brunei Sultan Hassanal Bolkiah during his state visits to the Philippines. To sustain the program’s momentum, the participants organized the butler association of Palawan, and elected and inducted its officers during the event’s closing ceremonies. The DOT intends to replicate the butler training in the county’s top tourist destinations to further enhance the Filipino brand of service excellence in the hospitality industry to global standards.

BusinessMirror

Editor: Tet Andolong

Wednesday, August 3, 2022 B7

Local engineering firm develops homegrown digital BIM platform

By Rizal Raoul S. Reyes

integrated, connected, and mobile Project Information Management tool. The new platform enables clients to place the entire suite of applications needed to imagine, design, engineer, construct, and manage a project into one digital framework.

SCA Engineering, a 100 percent Filipino engineering consultancy specializing in technology-driven project and construction management, structural engineering and civil engineering solutions for private and public developers, owners, and project-proponents in the local and international markets, recently introduced a Filipino-homegrown digital building information modeling (BIM) platform that fits right in the Philippines and other emerging markets.

ESCA Engineering officials pose for posterity for the launch of its PIM345D digital BIM platform in Makati City. From left: Amalia de Guzman, ESCA’s client services manager; Dr. Ernesto de Castro, president of ESCA; Atty. Jean de Castro, CEO of ESCA and Jan-Daniel Belmonte, Cocomilk Studio managing partner.

Dr. Ernesto de Castro, founder and president of ESCA Engineering, told reporters that the cost of technology licenses has always been the obstacle of local construction companies in pursuing technological adaptation in the Philippines. As a response, de Castro said ESCA Engineering has developed a Filipino homegrown digital building information modeling (BIM) platform that fits right in the Philippines and other emerging markets. He said the PIM345D digital BIM platform is an enterprise-level solution encompassing all BIM practices and processes. De Castro added that ESCA’s BIM is simpler in organization than foreign BIM data platforms. Moreover, he said their product was designed and priced specifically to bridge the technology cost gaps and make BIM widely available for an emerging market such as the Philippines and elsewhere. “ESCA Engineering has built a strong reputation helping to improve the Philippines’s built environment. With accelerating market changes and new growth opportunities, we believe it is right to

The Manila Electric Company has tapped ESCA Engineering to physically retrofit an initial fifteen (15) Meralco business centers to sustain additional weights for new solar panel installations while implementing other structural disaster-proof improvements.

evolve towards a more digital and dynamic future. Our new visual identity reflects our reinvigoration for a new generation of growth and success,” Dr. de Castro explained. Dr. de Castro said PIM345D is currently being rolled out internally at ESCA Engineering and selected clients. ESCA will conduct a local and international market launch for PIM345D in the first half of 2023 once extensive testing is completed. He said the pricing will be announced later. He assured PIM345D has been designed to bridge the digital gap in organizations and companies in the Philippines and other markets as well to enable organizations to avail of a true BIM tool that is economically affordable. Dr. de Castro said the introduction of PIM345D will empower local and national government agencies, private developers, and project proponents with a cost-effective digital solution that covers project management, design, construction, engineering, scheduling, resourcing, and cost management applications into a single

The Meralco project The Manila Electric Company (Meralco) has partnered with ESCA Engineering to retrofit key business centers across Metro Manila in order to improve their energy efficiency and disaster-resiliency. Mark Antolin M. Tan, Project Manager of Meralco said the over nearly two-year engagement period entails ESCA Engineering to physically retrofit an initial 15 Meralco business centers to sustain additional weights for new solar panel installations while implementing other structural disaster-proof improvements. “Our previous engagement with ESCA Engineering gave us the confidence to partner with them again in making sure our business centers are disasterresilient, structurally ready for solar panel installations, and of 21st century quality,” Tan said. Dr. de Castro said ESCA Engineering will harness its tried and tested expertise in structural engineering as well as technologies such as BIM to ensure structural integrity of the buildings and on-time project delivery and consistent quality while monitoring all phases of the project digitally, in 24x7 real-time. “ESCA Engineering reflects who we are now and our focused business—a digitally driven and engineering-centric service firm, ready to seize new opportunities for our clients across the Philippines and around the world,” added Atty. Jean de Castro, ESCA Engineering Chief Executive Officer. Some of the company’s past projects include the New Senate Building, SM Mall of Asia, IKEA, Meralco Lopez Building, Quad Aero Park, and the ongoing Nlex-Slex Connector Road.

SotoGrande Hotel Katipunan: Your best stop in the Metro I t’s the natural choice for your next staycation. SotoGrande Hotel along Katipunan Avenue stands out as this cozy new destination that has everything you need in your “city getaway.” It impresses you the moment you enter its grand, sophisticated lobby, greeted by its friendly front desk officers—definitely a preview of a great staycation ahead of you. Head up to your well-appointed rooms where you can freshen up before going out or just stay, watch some TV and catch up on some much needed sleep. You can choose from the different room categories here, all of which are equipped with features that are sure to guarantee a restful stay—starting with the comfy beds, fluffy pillows and its bathroom for that rejuvenating bath after a long and tiring day. Getting a little hungry? You don’t even have to go out as SotoGrande Hotel Katipunan offers a sumptuous, appetizing selection of dishes that are sure to satisfy even the most discerning palate. Honestly, the restaurant alone makes this hotel well worth your time as you can easily satisfy your craving for great food and an equally great ambience. After filling up, head out and rediscover the many treasures this area has to offer. Drive around and visit various places of interest that makes Katipunan a famous destination—from its churches, parks, universities, to the nearby museums. Once you tire out, you can easily go back to your hotel, go for some quick cardio at the gym (if you haven’t burned all those calories from touring Katipunan), or better yet, take a quick, refreshing dip

in the pool. That’s guaranteed to soothe your aching muscles. Head over again to SotoGrande’s resto for a light early dinner before you cap it off with a cocktail or two with friends at the hotel’s amazing roofdeck. If you’re lucky, you may even catch a glimpse of the beautiful sunset from this vantage point, or you can simply admire the view of the scenic cityscape from the deck. This roofdeck is such an incredible

space to be in—to have that unobstructed, breathtaking 180-degree view of the city! It’s the perfect spot for that romantic date you’ve been planning, or for an intimate party among family and closest friends. The hotel and its staff will be more than just willing to help you achieve that fun, memorable celebration you so deserve. After a day of non-stop fun and adventure, you can just head over to your room for that restful sleep so you can wake up

feeling recharged and ready for another day of adventure. You can actually start with a quick gym session before you check out and get through another day. Indeed a stay at SotoGrande Hotel Katipunan allows you to take a breather especially after being asked to stay home during the pandemic. It’s a great first staycation spot for friends and families who merely want to have some good time or create new memories.

SotoGrande Hotel Katipunan is built and operated by trusted developer Sta. Lucia Land Inc. The company’s parent company, the Sta. Lucia Group, has been in the realestate business for more than five decades and have since built and completed more than 250 projects across the country. For inquiries and reservations, call SotoGrande Hotel Katipunan at (0917) 1258847 or email katipunansotogrande@ gmail.com

SotoGrande Hotel along Katipunan Avenue stands out as this cozy new destination that has everything you need in your “city getaway.”

SotoGrande’s resto offers a sumptuous selection to suit your discerning tastes.

After a day of non-stop fun and adventure, head over to your room for that restful sleep.

This roofdeck is such an incredible space to be in—to have that unobstructed, breathtaking 180-degree view of the city.

Keep your health in check at the fitness center.

Sports BusinessMirror

| Wednesday, August 3, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NORMAN: TIGER DECLINED $700-800M OFFER FROM LIV GREG NORMAN confirms what he told the Washington Post in a story two months ago about the Tiger Woods offer. AP

GAMES first-timer Ariel Joseph Alegarbes proudly drapes himself with the Philippine flag.

RECORD-BREAKING GOLDEN DOUBLE

URAKARTA, Indonesia— Ariel Joseph Alegarbes made a splashing debut in the 11th Asean Para Games Monday by capturing two gold medals in record-breaking style at the Jatidiri Sports Complex pool in Semarang. In front of a lean yet animated Filipino crowd, among them his father Abner, Alegarbes had an unforgettable outing in ruling the men’s 100-meter backstroke S14 event in thrilling fashion, surging in the last 10 meter to win the race by a touch in one minute and .03.01 seconds. He nipped Malaysia’s Muhammad Imaan Aiman, who had wrested the lead at the 75-meter mark but lost team and settled for silver in 1:03.20. Thailand’s Mrjirachot Chuvong was a distant third for the bronze medal with 1:11.68. Barely taking a breather, the 18-year-old Victoria (Negros Oriental) pride was back at the pool, but this time handily won the men’s 50-butterfly S14 in 26.43 seconds to

complete a golden double in his rookie stint in the biennial meet. On top of being the country’s first double gold medalist here, Alegarbes established new meet records in both events, first smashing the five-yearold mark of 1:03.60 in the 100-meter backstroke set by Indonesia’s Muhammad in the 2017 Kuala Lumpur Games. He also bested by nearly four seconds the joint record of 30.01 seconds held by Malaysian WY Chung and Indonesian D. Nugruho also set in 2017. “I feel like I am about to explode because I was not expecting this. This is for my father who led me into swimming. Without him I wouldn’t be here,” said Alegarbes, who suffers from ADHD with learning disability with dyslexia, while handing both mints to his delighted father. “Of course I am very proud of my son and I am glad to witness his accomplishment,” said the elder Alegarbes, who left his work as a construction worker to look after his

son after learning of his son’s physical challenge at an early age through the advice of his late psychologist brother. Alegarbes’s success was a brilliant follow-up to his winning one gold and one silver medal in the 100-meter butterfly S14 and 100-meter backstroke S14, respectively, in the Asian Youth Para Games held in Manama, Bahrain, last December. Veteran Ernie Gawilan, who won the men’s 400-meter freestyle S7 event last Monday, settled for silver in the men’s 100-meter backstroke S7 in 1:21.13 for the other swimming medal of the day in the stint supported by the Philippine Sports Commission. The country’s track and field team also continued to have a productive campaign Tuesday morning at the Manahan Stadium with newcomer runner King James Reyes and veteran thrower Jesebel Tordecilla boosting the athletic haul to four golds medals. Reyes topped the men’s 5,000-meter race T46 event, his time pending confirmation from meet officials, while Tordecilla took the

ILOCOS SUR COMMITS TO HOST BATANG PINOY

By Josef Ramos

LOCOS SUR will fulfill its commitment to host the Philippine Sports Commission’s (PSC) Batang Pinoy national championships that is returning this December after being shuttered for almost three years because of the Covid-19 pandemic. Ilocos Sur Provincial Sports Consultant Edwin Llanes confirmed to BusinessMirror on Tuesday that the multi-sport games for athletes aged 15 years old and younger will go on as scheduled from December 4 to 10. “Yes, Ilocos Sur will host the games this December as per Governor Jerry [Jeremias Singson],” Llanes told BusinessMirror. “But we need to inspect the facilities still.” Ilocus Sur and Vigan City, main hub of the province’s hosting of the games, shared the brunt of the damages wrought by the intensity 7.0 earthquake that rocked Northern Luzon, particularly Abra and Ilocos Norte and Ilocus Sur. Damages to property and infrastructure—and heritage sites—were reported, but Llanes guaranteed local

SINGSON

engineers are vouching for the integrity of the facilities that will be used for the Batang Pinoy. “Practically the same venues used for the Palarong Pambansa will be utilized for the Batang Pinoy, although we are looking at billeting areas that are closer to the competition venues,” Llanes said.

Compelling scenario in PBA semifinals

Vigan City and its neighboring towns hosted the 2018 edition of the Palaro. The Batang Pinoy national championships was last staged in Puerto Princesa in 2019, just four months before Covid started to evolve into a pandemic. Ilocus Sur will host nine sports— archery, athletics, badminton, chess, cycling, table tennis, swimming, weightlifting and demonstration sport obstacle sports—that will be played face to face. There will also be virtual or online competitions in arnis, dancesports, judo, karate, muay, pencak silat, taekwondo and wushu.

MONUMENTAL missions for Meralco and Magnolia. But routine runs for TNT and San Miguel Beer (SMB)—supposedly. That’s the compelling scenario in the blast-off today (Wednesday) of the Philippine Basketball Association (PBA) Philippine Cup semifinals at the Smart Araneta Coliseum. Meralco had beaten Ginebra in a 106-104 heart-stopper on Sunday to advance. That tells a lot for the bold Bolts, whose conquest of the Gin Kings saw them snap a six-series losing streak in playoff punches against the crowd sweethearts. “This is one step that we’re able to get over the hump against Ginebra,” said Chris Newsome, the biggie Bolt who ambushed the Gin Kings with 21 points, 12 assists and 10 rebounds. But against San Miguel Beer in a protracted win-four duel kicking off at 6 p.m. Wednesday, Meralco needs more of Newsome’s kind to prevail. The Bolts are not just up against a hump but a big bump in the Beermen, whose five straight victory run of the All-Filipino from 2015 remains a bedrock in basketball supremacy. And though SMB has had hiccups the last couple years, its rebuilding process has shown immense improvements as seen in its smashing 9-2, win-loss record to top the elimina-

gold with her heave of 14.21 meters on her third attempt. A gold medalist in the women’s javelin throw T54 last Monday, Cendy Asusano added a bronze to her collection in the women’s discus throw, which was the same medals won by Ron Russel Mitra and Evaristo Carbonel in the men’s long jump T20 and men’s discus throw F11-13, respectively. With the production of swimming and athletics combined for the day, the Philippine para athletes had nine gold, six silver and 15 bronze medals as they pressed to eclipse the tally of 20 golds, 20 silvers and 29 bronzes in winding up fifth overall in 2017.

FIBA WORLD CUP PREPS IN HIGH GEAR Samahang Basketbol ng

Pilipinas (SBP) President Al Panlilio (eighth from left) musters stakeholders of Philippine basketball during the SBP board meeting on Monday geared toward a successful hosting of the International Basketball Federation (FIBA) World Cup 2023 and a strong finish by Gilas Pilipinas. Present in the meeting are (from left) Manuel “Buddy” Encarnado (National Capital Region Athletic Association), Jose Lipa Jr. (Philippine Collegiate Champions League), Philippine Basketball Association’s (PBA) Atty. Raymond Zorrilla and Alfrancis Chua, SBP Vice Chairman Rep. Roberto Puno, PBA Commissioner Willie Marcial, SBP Chairman Senator Juan Edgardo “Sonny” Angara, Corporate Secretary Atty. Marievic Añonuevo, Executive Director Renauld “Sonny” Barrios and Treasurer Richard “Ricky” Palou, Manuel Raymund “Dax” Castellano (National Collegiate Athletic Association), Florante “Joey” Guillermo (Filoil Flying V), Mark Oliver Molina (University Athletic Association of the Philippines), Stephen “Pong” Dacoco (Cagayan De Oro Basketball Federation), Robin Jarvis Uy (Juanito T. Uy and Fanny L. Uy Foundation Inc. Chairman’s Cup) and Josemaria Rafael “Popoy” Navarro (Cebu Youth Basketball Athletic League)

IGER WOODS turned down an offer that Greg Norman says was “somewhere in that neighborhood” of $700 million to $800 million to take part in the Saudi-funded LIV Golf series. During an appearance on Fox News with Tucker Carlson that aired Monday night, Norman confirmed what he told the Washington Post in a story two months ago. Norman told the Post in June the offer was “mind-blowingly enormous— we’re talking about high nine digits.” Woods has been opposed to LIV Golf since late last year, and he delivered his strongest comments at the British Open when he said players who took the money funded by the Saudi Arabian sovereign wealth fund had “turned their back” on the Professional Golfers Association Tour that made them famous. When an offer was made to Woods was not clear. “That number was out there before I became CEO. So that number has been out there, yes,” Norman said in the Fox News interview, which took place Sunday at Trump National in

Bedminster, New Jersey, where the third LIV Golf Invitational was held. “And, look, Tiger is a needle-mover and of course you have to look at the best of the best,” Norman said. “So they had originally approached Tiger before I became CEO. So, yes, that number was somewhere in that neighborhood.” Various reports out of the United Kingdom have said Phil Mickelson received a $200 million signing bonus, while Dustin Johnson received $150 million. The 48-man fields, which play 54 holes with no cut, offer $25 million in prize money at each event. Norman announced a 14-tournament schedule for next year. LIV Golf currently has only one player—Johnson at No. 18—from the top 20 in the world. The source of the funding has led to sharp criticism of the series and the players who have enlisted because it is viewed as an attempt to distract attention from its human-rights record and links to the September 11 terrorist attacks. Asked why his rival tour has caused such an uproar among American golf fans, Norman responded plainly, “I don’t know.” “I really don’t care,” Norman said. “I just love the game so much and I want to grow the game of golf and we at LIV see that opportunity not just for the men but for the women.” The LIV Golf Invitational is off for a month during the FedEx Cup playoffs on the PGA Tour, returning over Labor Day weekend about an hour west of Boston, and then two weeks later plays in the Chicago suburbs. AP

PCSO extends P.5 million financial aid to former athletics star De Vega By Bernadette Nicolas

HE Philippine Charity Sweepstakes Office (PCSO) extended a P.5-million financial aid to the family of former Asian Sprint Queen Lydia de VegaMercado, who is still in critical condition because of complications brought by Stage 4 breast cancer. Newly-appointed PCSO Chairman Junie Cua said they responded to the call of President Ferdinand Marcos Jr. to provide financial help to the sports legend. Cua, who is a former lawmaker, said the financial aid came from the funds from his office as well as the office of the general manager of PCSO. “The PCSO is coming to the aid of many. It just so happened that I think the honor that Lydia De Vega has brought to this country deserves a special attention but as we are speaking, the PCSO family daily, hourly have been extending help not only in this central office but in the field offices all over the country,” Cua told reporters in a press conference on Tuesday. The financial assistance from PCSO was received by De VegaMercado’s daughter, Stephanie Mercado-de Koenigswarter. Stephanie expressed gratitude for PCSO’s financial assistance for her mother, who she said is facing the “biggest race of her life.” While she said her mother is in a critical condition, Stephanie said the sports legend is conscious although there are

tion round running away. Even Luigi Trillo, Meralco’s interim coach now in relish of a 7-1 mark in the absence of Norman Black, is wary of San Miguel’s palpable return to form. “It’s a different animal altogether,” said Trillo. “They have June Mar Fajardo, Mo Tautuaa and Vic Manuel.” If you ask me, said trio are the toughest talls this side of the basketball nook today. “You look at them pound-for-pound, at one time, Tautuaa and Manuel were arguably the best post guys in the league when June Mar was injured,” said Trillo. The youthful Trillo, assisted well in strategizing plays by the equally talented Ronnie Magsanoc, concluded: “The Beermen also have CJ Perez, Marcio Lassiter, Chris Ross and they’re gonna be a handful.” How true. But can SMB coach Leo Austria exploit this obvious edge to the hilt against a highly-motivated Meralco lusting for its first ever All-Filipino Finals? Will it be a routine-like return to the top for the Beermen, the most decorated team in Philippine basketball? We’ll see. Meanwhile, the Magnolia-TNT showdown should also

times that she is unresponsive. “On behalf of my entire family, I would like to express my deepest and sincerest gratitude to the assistance provided today by the PCSO,” she said. “We know how tough she is, she is really a fighter, you know. I know she won’t allow that this time will be her time,” he said. PCSO General Manager Melquiades Robles appealed for more financial assistance for the family of De Vega, who he described as the country’s “gem.” “We are spearheading this. We are giving but definitely, it is a far cry from what they need so we are also appealing to others in helping the family,” Robles said. Meanwhile, Cua said they may also create a special fund for athletes who may also need financial help, if necessary. As the new PCSO chief, Cua also vowed to improve their revenue generation in a bid to answer the President’s order to make the government more responsive to the needs of Filipinos, especially the marginalized sector. “Primordial to all this desire the vision of our President is our effort to raise revenue for the agency and there are many ways that we are looking into this. We are looking at improving our marketing channel, digitization of our system, digitization of marketing so there are many things that PCSO is trying to do along this line to answer the call of the president to help more people,” he said.

prove interesting, especially for the Hotshots who are up against the defending champion Tropang Giga no less. Magnolia’s massive mission to topple TNT appears doable in the wake of its classic 112-106 quarterfinal escape act against NLEX, where the Hotshots rescued the win from the grave, which miraculously materialized through the lastminute heroics of the fire-spewing Jio Jalalon. I’ve got my wine readied—on room temperature. Naturally. THAT’S IT In his human moment a while back, Fidel V. Ramos made me his crutch as I helped him retrace his way back to his waiting white Land Cruiser at the driveway of the Riviera Golf Club in Silang, Cavite. Yes, he was groggy, but he was still in full command of his faculties, shooing away— gently—his bodyguards as he and I trudged on. “Leave us alone,” he said. “Al will take care of me.” We had just downed a bottle of Remy Martin at—of all places—the Ladies Locker Room, in the company of, among others, Jake P. Ayson, Tony Sisante, Col. Serge Austria, Admiral Louie Fernandez and Gen. Eduardo Ermita (FVR’s favorite aide before becoming GMA’s executive secretary.) Ah, to be of service to a President of the republic! Priceless like a Van Gogh painting.