BusinessMirror August 06, 2021

(2017, 2018, 2019)

‘SLOWER JULY INFLATION n Friday, August 6, 2021 Vol. 16 No. 296

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P25.00 nationwide | 2 sections 30 pages |

SHOWS SCRIMPING MODE’

By Cai U. Ordinario

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@caiordinario

HE July inflation data released by the Philippine Statistics Authority (PSA) on Thursday indicate that Filipinos are scrimping on non-essentials such as restaurant food, personal grooming, and vices, according to local economists on Thursday.

The latest PSA data showed inflation slowed to 4 percent in July 2021 from 4.1 percent in June 2021. This is the slowest rate posted this year and since December 2020 when inflation averaged 3.5 percent.

However, inf lation remained higher than the 2.7 percent inflation posted in July 2020. Data showed inflation averaged 4.4 percent in the January to July period this year.

“It is clear that there is some demand with the rise [though slower]

of prices of these products. If you notice, these commodities are considered to be discretionary in nature [vs non-discretionary/essential ones],” UnionBank Chief Economist Ruben Carlo O. Asuncion told the BusinessMirror.

“Thus, the meager demand (still), at this point, is understandable. The stop-and-go nature of the economic recovery is also playing into prices, obviously,” he added.

See “Slower,” A2

CARLO PAALAM savors his victory over Japan’s Ryomei Tanaka as Eumir Felix Marcial swaps punches with Ukraine’s Oleksandr Khyzhniak. AP

PHL MANUFACTURING: LOW VALUE-ADDED GOODS IN PAST 20 YRS

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HE countr y’s manufacturing sector has “languished” and has not progressed from producing low value-added goods, according to a report released by the United Nations (UN).

The report also found that for the past 20 years, the country’s competitiveness advantage has diminished to just

Paalam gets shot at PHL’s 2nd gold in Tokyo

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By Jun Lomibao

and Oceania Boxing Olympic Qualification Tournament tormentor, Kazakhstan’s Saken Bibossinov, 3-2, to set up the gold medal showdown with the 23-year-old pride out of Cagayan de Oro City.

Paalam’s victory made up for Eumir Felix Marcial’s 2-3 loss to Ukraine’s Oleksandr Khyzhniak in a men’s middleweight semifinal also on Thursday. Marcial settled for a bronze medal.

Golfers Bianca Pagdanganan and Yuka Saso, however, couldn’t keep up with the searing pace and bowed out of contention in women’s golf.

OKYO—Carlo Paalam unleashed a dominant form to outclass Japan’s Ryomei Tanaka on Thursday and send the entire nation glued toward a possible second gold medal at the Tokyo Olympics on Thursday.

Paalam mauled Tanaka for an emphatic 5-0 unanimous decision victory at the Kokugikan Arena where he returns to fight for the gold medal at 2 p.m. on Saturday against Great Britain’s Galal Yafai.

Yafai edged Paalam’s 2020 Asia

14 percent in 2018 from 20 percent in 1995.

These were part of the findings of a Policy Brief titled, “Diversification, Jobs and the Covid-19 Recovery,” which was done through a joint research project of the International Labor Organization (ILO), United Nations Development Program See “PHL,” A2

BSP affirmed as inflation assessment within target

TOKYO OLYMPICS medal Count

PESO exchange rates n US 49.7170

TEAM/NOC

Gold

Silver

Bronze

TOTAL

1

People’s Republic of China

34

24

16

74

2

United States of America

29

35

27

91

3

Japan

22

10

14

46

4

Australia

17

5

19

41

5

ROC

16

22

20

58

6

Great Britain

16

18

17

51

7

Germany

9

9

16

34

8

France

7

11

9

27

9

Italy

7

10

18

35

10

Netherlands

7

9

10

26

47

Philippines

1

1

1

3

By Bianca Cuaresma

Source: Olympics.com | As of JAugust 5, 2021 | 9:10 pm

RANK

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@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) expressed confidence in its medium-term assessment of inf lation, as the growth of consumer goods prices decelerated back to within target for the first time this year in July.

In a message to reporters on Thursday, BSP Governor Benjamin Diokno said inflation’s drop to 4 percent in July strengthens their view that inflation will average to within target for the year.

“The July 2021 inflation dropped further to 4 percent. This was within the BSP’s forecast range of 3.9 to 4.7

percent,” Diokno said.

“The latest outturn is consistent with the BSP’s assessment that inflation could settle close to the high end of the target range of 2 to 4 percent over the near term before decelerating back to within the target by end of the year as the impact of government supply side measures take effect,” he added.

In their latest monetary policy meeting in June, the BSP said they forecast inflation to hit an average of 4 percent for this year, hitting the ceiling of the government’s target range for the year. It is also up from the 3.9 percent forecast in their previous meeting.

n japan 0.4542 n UK 69.0519 n HK 6.3944 n CHINA 7.6883 n singapore 36.8111 n australia 36.6762 n EU 58.8500 n SAUDI arabia 13.2582

See “BSP,” A2

Source: BSP (August 5, 2021)

News

BusinessMirror

A2 Friday, August 6, 2021

BSP...

Continued from A1

For next year up until 2022, the BSP said inflation is expected to hit an annual average of 3 percent.

“The balance of risks to the inflation outlook remains broadly balanced over the policy horizon. The uptick in international commodity prices due to supply-chain bottlenecks and the recovery in global demand could lend upside pressures on inflation. On the other hand, the emergence of new coronavirus variants and delays in easing lockdown measures are seen to pose downside risks to both demand and inflation,” Diokno said.

The governor said the Monetary Board will consider this latest price development, along with the second quarter 2021 gross domestic product (GDP) outturn in its assessment of the monetary policy stance on August 12.

“The BSP remains watchful over the evolving economic conditions and challenges brought about by the pandemic to ensure that the monetary policy stance remains consistent with its price and financial stability objectives,” Diokno said.

ING Bank economist Nicholas Mapa, however, warned that inflation may not yet be on the downtrend in the coming months.

“Despite inflation dipping back within target in July, we note the recent pickup in food costs and the acceleration of food items by 4.9 percent from 4.7 percent.

Given the heft of the food subsector in the overall CPI [consumer price index] basket, we could see inflation pressures elevated in the second half of the year despite extremely soft domestic demand with the impending ECQ [enhanced community quarantine] and ongoing recession,” Mapa said.

The economist, however, said that despite possible bouts of faster inflation, they fully expect BSP to keep policy rates unchanged for the rest of 2021 and well into 2022.

“BSP Governor Diokno has repeatedly stated his preference to provide support for the fledgling recovery and deliver monetary stimulus for as long as ‘it is needed.’ The Philippine economy will likely hit a speed bump in the third quarter with overall economic activity to slow further due to the imminent lockdown on 6 August,” Mapa said.

“With the economy reeling from the pandemic, we doubt BSP will even consider ‘pre-emptive’ recalibration of policy rates as policy tightening at this stage will definitely snuff out whatever momentum is left in the economy’s growth engines,” he added.

www.businessmirror.com.ph

Upgraded Butuan airport seen PHL... to boost local, regional growth

Continued from A1

B

UTUAN CITY—Transportation and aviation authorities unveiled here on Thursday the newly-rehabilitated Butuan Airport in Agusan del Norte. Improved and modern transportation systems will not only push local and regional economic growth, they will also reap tangible benefits for the Caraga Region and the whole of Mindanao, Transportation Secretary Art Tugade said after the event.

The DOTr and the Civil Aviation Authority of the Philippines (C A A P) unveiled the “new’ airport, where rehabilitation included the runway asphalt overlay to provide aircraft with smoother take-offs and landings, and the improvement of the airport’s passenger terminal building (PTB).

“This is the significance of this. With better mobility and connectivity, our livelihood and tourism improved. The equipment here

have been replaced, and this airport can be used even at sunset. That is the program which we celebrate here today,” he pointed out in a mix of English and Filipino.

Another vital facility added to the Butuan Airport is the Malasakit Hall, which is part of the airport’s modernization and peoplecentered service delivery thrust. The Malasakit Hall will serve as a waiting area for airline passengers and features a clinic, a childcare room, a lounge for overseas

Transportation Secretary Art Tugade inspects the OFW Lounge. DOTR PHOTO

Filipino workers, a prayer room, a washroom, and a concession space for passengers.

Sec. Tugade likew ise instructed CAAP to further expand the Malasakit Hall, especially the OFW Lounge and the Clinic in order to accommodate more at any given time.

The airport’s passenger terminal building (PTB) will further be expanded as well so to offer passengers better service and accommodation.

“The plan is to expand the PTB to a capacity of 500 passengers. Starting next month, the bidding and procurement process opens, then actual construction will start,” the transport chief pointed out.

C A A P D i rec tor Genera l

Slower...

In a briefing on Thursday, National Statistician Claire Dennis S. Mapa listed to reporters the reason for the slowdown: transportation such as tricycle fares which slowed to 11.3 percent in July compared to 17.6 percent in June; petroleum and fuels, 17.7 percent versus 21.5 percent; and airfare, which contracted 8.6 percent in contrast to a decline of 1.3 percent in June.

Mapa also said inflation in the Restaurant and Miscellaneous Goods and Services sector slowed. This was mainly due to Meals which recorded an inflation of 4.2 percent in July compared to 4.6 percent in June.

This was followed by articles for Personal Hygiene, such as shampoo, which posted an inflation of 2.5 percent in July compared to the 2.8 percent recorded in June 2021, as well as Barbershop Services which posted a 10.3 percent inflation last month versus the 11.3 percent in June.

Sin products

Another major reason for the slowdown in the increase in commodity prices, Mapa said, were sin products such as cigarettes, beer, and brandy.

Jim Sydiongco said the P33.59 million Butuan Airport PTB expansion project is now under procurement and will have October 10, 2021 as its target start date and May 23, 2022, as target end date.

Sydiongco added that the agency has also completed the replacement of the airport's Doppler Very High Frequency Omni Range (DVOR)—an air navigation aid—last December 2019. The system improves the radio navigation at the airport to aid aircraft in determining their position relative to the Butuan Airport.

Tugade also inaugurated on the same day development projects in the Cantilan Port in Surigao del Sur.

Continued from A1

Based on the data, the increase in cigarette prices slowed to 11.9 percent in July compared to 12.8 percent in June; Beer recorded an inflation of 4.8 percent inflation versus the 6 percent it recorded in the previous month; and Brandy with an inflation of 4.9 percent inflation in July, slower than the 6 percent posted in June.

“It is due to low demand arising from work-from-home arrangements and the cautious attitude towards spending time outside of the house. The psychological burden of keeping safety protocols has made many forgo many social activities,” University of Asia and the Pacific School of Economics Dean Cid L. Terosa told this newspaper.

De La Salle University economist Maria Ella Oplas for her part said the slower demand for these products, which affected their price, owed to fears of the Delta variant.

She noted that it was in July when news broke that the Delta variant had reached Philippine shores. In mid-July, the Department of Health (DOH) reported there were 16 cases of the Delta variant in the Philippines.

The number has since grown to 116 cases as of Thursday. DOH data showed there are 95 local cases of the Delta variant and 83 of these cases are in the National Capital Region (NCR), the center of all economic activity in the country.

“The impact of Delta really scared people and limited/stopped going out. I think people [also] prioritized the necessities because of the continued depletion of people’s savings,” Oplas said.

“We are all in the second year of this pandemic. I’m sure a lot are living on their savings.”

Continued on A8

(UNDP), and the United Nations Industrial Development Organization (UNIDO).

“The Philippines has also become more of a market of consumer goods rather than a hub of manufacturing exports due to the combination of a liberal trading regime and a large domestic market with increasing purchasing power boosted by the robust flow of remittances,” the UN said.

The report observed that the unit values of the country’s top exports such as semiconductors and electronics remained “low and largely unchanged” between 1991 and 2012.

Differences in average unit values between partner firms are consistent with the pattern of specialization where the Philippines demonstrates a comparative advantage in labor-intensive, and thus lower-value export goods, and a comparative disadvantage in higher-value, capital-intensive imports.

The report also noted that this has also caused the number of exporting firms to shrink. The survival rate of manufacturing exporters trended down since 2001.

Further, the UN report said, the rates of new entry fell to just 24 percent in 2012 from a high of 88 percent in 1999.

Based on data obtained by the UN, the number of exporters in the country was at 8,265 in 2019, only a 24.8-percent growth from the 6,621 firms in 1991.

The highest number of exporters in the country was 12,212 in 2005.

That was the only time the country saw the number of exporters breach the 12,000 level.

The UN said the number of importers have been larger compared to exporters between 1991 and 2019. In 2019, there were 16,488 importers in the country, a 33.21-percent growth from the 12,377 firms in 1991.

The highest number of importers between 1991 and 2019 was 1997 when there were a total of 22,903 importers.

This is also the only time the country breached the 22,000 level during the 28-year period.

“For Filipino firms, this entails behaving like exporters who must compete with foreign businesses to survive in the domestic market,” the report said.

Diversification hard

Meanwhile, the report noted that diversification is also becoming increasingly difficult for firms.

The country did diversify its products between 2003 and 2018, the UN noted, but these efforts only translated to 3 percent of export revenues, contributing only $33 to the country’s income per capita in 2018.

In contrast, another Asean country Vietnam added 48 new products, composed mostly of electronics during the period. This added $1,015 to its per capita income and 35 percent to its total exports during the 15year period.

The report noted that in 1995, there were more complex products compared to 2018. This meant that difficulties in catching up have piled up through the years.

“While the Philippines has diversified, the volume of its new products was not big enough to substantially contribute to overall growth. The diversification space for the Philippines has also significantly narrowed,” the report stated.

Last month, the country’s economic managers upgraded the growth projections for goods exports this year and for services exports in 2022 while affirming the assumptions on the country’s GDP growth for this year until 2024.

Goods exports are now seen by the Cabinet-level Development Budget Coordination Committee (DBCC) to rise by 10 percent this year from its previous projection of 8 percent, “following an expected recovery in external demand.”

Meanwhile, the growth of service exports in 2022 was revised upward to 7 percent from its old projection of 6 percent as it expects travel and BPO receipts to improve with the gradual reopening of the economy.

As Covid-19 cases in the country are declining since the peak in April this year and the economy is in gradual reopening mode with more targeted granular lockdowns, the DBCC kept unchanged its growth targets of 6 to 7 percent this year, 7 to 9 percent in 2022, and 6 to 7 percent in 2023 and 2024. Cai U. Ordinario

The Nation BusinessMirror

www.businessmirror.com.ph

NBI probes report of oxygen tank hoarding

By Joel R. San Juan @jrsanjuan1573

J

USTICE Secretary Menardo Guevarra issued a memorandum on Thursday directing the National Bureau of Investigation (NBI) to conduct an investigation into the alleged hoarding of medical oxygen tanks and other medical supplies in Cebu and other parts of the country amid the anticipated surge in Covid-19 cases.

The NBI would closely coordinate with the Philippine National Police (PNP) and the Department of Trade and Industry (DTI) to probe the reported hoarding, according to Guevarra.

“In the interest of the service and pursuant to the provisions of Republic Act 10867 or the National Bureau of Investigation Reorganization and Modernization Act, which authorizes the Secretary of Justice to direct the National Bureau of Investigation to undertake the investigation of any crime when public interest so requires, the NBI, through Officer-inCharge [OIC] Eric Distor is hereby directed and granted authority to conduct an investigation on the alleged hoarding of medical oxygen tanks and other medical supplies in Cebu and other parts of the country where incidents of Covid-19 cases are high or expected to rise, if evidence warrants, to file appropriate charges against all persons involved and found responsible for any unlawful act in connection therewith,” Guevarra said.

Guevarra also directed Distor to submit reports on the progress of its investigation to his office within 10 days.

The justice chief issued the order after the Philippine National Police (PNP) ordered a separate probe on the matter following Cebu City Vice Mayor Michael Rama’s claim about the supposed hoarding of oxygen tanks amid the rising Covid-19 cases.

The DTI has also warned erring distributors and hoarders of oxygen tanks that it would take action against them.

PAL flight ferries 1 million doses of Sinovac vaccine from Beijing

By Recto Mercene @rectomercene

A

T least a million doses of Sinovac vaccine were scheduled to arrive at the Ninoy Aquino International Airport (Naia) from Beijing at about 7 p.m. on Thursday, August 5.

Philippine Airlines A330 will transport the government-purchased shipment, according to PAL spokesman Cielo Villaluna.

“PAL flight PR359 loaded with the Sinovac vaccines left Beijing Daxing International Airport at 2:45 p.m and is estimated to touch down the Naia at 7:02 p.m.,” Villaluna said.

She added the vaccines would be unloaded on the Naia Terminal 1, Bay 49.

The Beijing-Manila vaccine flight team is manned by Chief Pilot Capt. Jerry Perlada, First Officer Vicente Uy Jr., First Officer Neil Alvin Pagsuguiron and Interpreter Stephanie Co-Obiles.

Editor: Vittorio V. Vitug • Friday, August 6, 2021 A3

Amid prospect of yet another Senate inquiry PhilHealth reports P166-B payout to hospitals

By Bernadette D. Nicolas @BNicolasBM

& Butch Fernandez @butchfBM

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HE Philippine Health Insurance Corporation (PhilHealth) on Thursday said it has already paid a total of P166 billion for the claims it received from accredited government and private hospitals from last year until June 30 this year.

The state health insurer’s statement as Sen. Juan Edgardo Angara filed Senate Resolution 774 to verify reports and find out what is causing extended delays in PhilHealth reimbursements and fix the problem in case it requires remedial legislation.

The Resolution noted complaints recently conveyed by the Philippine Hospital Association, comprising 2,000 private and government hospitals, over unpaid PhilHealth reimbursement claims.

PhilHealth said the amount al-

ready covers 13.6 million claims or 76.4 percent of the almost 18 million claims it received during the period.

The remaining percentage of the claims were comprised of those returned to hospitals for compliance with identified deficiencies (8 percent) and those that were denied due to non-compliance and various violations of existing rules and regulations.

“The Corporation is working double time to process the remaining 12 percent amounting to P25.6 billion, which are in varying levels of processing in its offices,” PhilHealth said in a news statement issued on Thursday.

Of the total claims received during the period, PhilHealth said almost 10 million claims were from accredited private hospitals, of which 8.2 million claims amounting to almost P96 billion has been paid, while the rest of the claims amounting to P14.4 billion is still under process.

In the same statement, PhilHealth also clarified that the P6.3 billion it paid to 206 hospitals as claimed by Private Hospitals Association of the Philippines Inc. (PHAPi) refers to the partial payments made by the state health insurer under the Debit-Credit Payment Method (DCPM) to hospitals with Covid-19 cases within the identified critical areas.

The state health insurer also attributed the discrepancy in the figures between PhilHealth and the hospitals mainly to the “differences in accounting treatments.”

“During the claims data reconciliation meetings with a number of hospitals, it was noted that hospitals have been including denied and returned-to-hospital claims in their accounts receivables while PhilHealth recognizes only good claims as its payables pursuant to prevailing government accounting rules and regulations. This

accounting practice was earlier validated during the House Committee on North Luzon Growth Quadrangle hearing with hospitals and PhilHealth in June of this year,” it said.

On Monday, Senator Angara said the P6.3 billion in hospital claims released by PhilHealth to health-care facilities is a “measly amount” compared to the P28 billion in unpaid claims as stated by PHAPi. The BusinessMirror sought PhilHealth to clarify how much remains to be paid under the DCPM scheme but it has yet to give a response on the matter as of press time.

In terms of Covid-19 related benefit claims, PhilHealth said it paid almost P12 billion, equivalent to 56 percent of the total received Covid-19 related claims from affected areas.

These claims consist of testing packages (inclusive of tests conducted by the Philippine Red Cross), community isolation benefit package

and hospitalization cases.

At a recent Senate hearing, Dr. Jaime Almora, PHAPi president, told senators that the unpaid claims by member-hospitals now range from P50 million to P700 million.

Almora added that some hospitals had to resort to borrowing and used up savings just to maintain hospital operations.

This as Angara, sitting chairman of the Senate Committee on Finance, shared senators concerns over the possibility of growing number of patients likely to be afflicted with Covid-19 Delta variant.

He reminded that it is the government’s responsibility to ensure that there is enough capacity in private and public hospitals.

The senator stressed that piecemeal payments by PhilHealth will not do, as this will only lead hospitals to cut back on services and bed capacity and the operating hours of hospital personnel.

Abalos blames ‘fake news’ in crowding at NCR vaxx sites

By Claudeth Mocon-Ciriaco @claudethmc3

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HE Metropolitan Manila Development Authority (MMDA) on Thursday denied a report that Metro Manila mayors would not extend cash perks to those who have not been vaccinated against Covid-19, and asked the National Bureau of Investigation (NBI) to investigate the spread of such “fake news” and misinformation.

MMDA Chairman Benjamin “Benhur” Abalos Jr. blamed the influx of people to the vaccination centers on Thursday to the viral spread of the fake news in social media.

Abalos said the fake news alarmed the public and went in droves to vaccination sites in Manila, Las Piñas, and Masinag in Antipolo.

“Everything was in order until the proliferation of this fake news.

These misinformation would affect not only the vaccination process and target, but would cause harm to peoples’ lives,” Abalos emphasized.

‘No vaccine, no work’ policy

THE Department of Health (DOH), on the other hand, clarified that the policy on “no vaccine, no work” is not allowed.

The DOH stated that based on the Department of Labor and Employment Advisory No.03 Series of 2021, all employers may “encourage” their employees to get vaccinated.

“However, any employee who chooses not to get vaccinated or fails to get vaccinated shall not be discriminated against in terms of employment,” the DOH said in an advisory.

“Additionally, Republic Act 11525 states that vaccine cards shall not be considered as an additional requirement for employment purposes,” DOH said.

‘No bakuna, no ayuda’ policy

MEANWHILE, Abalos issued a clarification on the alleged “no bakuna, no ayuda” in the National Capital Region (NCR).

“To set the record straight, the distribution of ayuda and/or benefits or privileges is not anchored on whether an individual has been inoculated or not,” Abalos said.

In a letter sent to NBI Officer-inCharge Eric Distor, Abalos asked the NBI to probe the sources of fake news and hold the purveyors accountable.

“I am requesting your Bureau to initiate the investigation of the said fake news in order for those

persons responsible therefore to be held accountable in causing unruliness at the vaccination sites and thereafter to file the necessary charges against them,” said Abalos, in his letter.

Abalos also said that the ayuda or cash aid from the government amounting to P1,000 to P4,000 will begiventolow-incomeresidents—regardless if they are vaccinated or not.

He also reiterated the commitment of the 17 local government units in Metro Manila to administer 250,000 jabs daily during the two-week enhanced community quarantine period as the national government approved NCR’s request for 4 million vaccines to achieve population protection the soonest time possible.

To date, there are more than 10 million total doses administered in the entire metropolis and with the 4 million vaccine allocation in the NCR during ECQ, 12.6 at least 45 percent of the NCR population will be inoculated after the lockdown.

“All the local chief executives in Metro Manila are resolved to ramp up the vaccination program. We assure the public that the supply of vaccines is secured,” Abalos said.

The MMDA chairman advised the public against the spread

of such fake news that only causes disorder to the program.

“Do not believe in fake news. Let us wait for your vaccination schedule.

Local chief executives of Metro Manila are on top of the situation, ensuring that queues are orderly,” he said.

Govt action

JUSTICE Secretary Menardo Guevarra assured on Thursday that the government would take appropriate action in connection with the “chaotic” Covid-19 vaccinations that transpired in several areas, particularly in Manila City.

Guevarra, also a senior member of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF), made the statement when asked about the task force’s possible action against local officials for turning their vaccination sites into Covid-19 “super spreader” events.

Even Presidential spokesman Harry Roque, in his regular media briefing, warned that local officials may face dereliction of duty charges if they fail to address overcrowding and other breach of health protocols in their vaccination sites.

“I’m sorry to hear about this incident. I’m sure that the DILG [De-

partment of the Interior and Local Government] has taken note of this incident and will take the appropriate action,” Guevarra said.

Interior Secretary Eduardo Año is also a senior member of the IATF. Earlier, President Duterte directed the DILG to compel local government units (LGU) to fix their vaccination system to ensure that people are not exposed to health risks and other inconveniences on the day of their vaccination.

The Manila City government headed by Mayor Isko Moreno has been under fire for opening the vaccination program of the city to walk-ins despite the limited number of vaccines, resulting in overcrowding and long lines in vaccination sites.

On Tuesday, Health Undersecretary Myrna Cabotaje also urged LGUs to restrict walk-in vaccination to prevent mass gathering and super spreader events.

Cabotaje suggested limiting the walk-in policy to senior citizens being vulnerable to Covid-19.

“The more important thing at this time is to make sure that no similar incident of overcrowding at vaccine sites will happen again,” Guevarra pointed out.

Senate ratifies BFP modernization bill after extended debates

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HE Senate, working overtime beyond midnight Wednesday night, ratified the controversial bicameral conference committee report on the modernization of the Bureau of Fire Protection (BFP), which it rejected weeks ago owing to a provision belatedly inserted by the House panel.

The senators voted 14 in favor, four against, with two abstentions, after Sen. Ronald “Bato” dela Rosa presented to the chamber the bicameral conference committee report for the second time.

Senate President Pro Tempore Ralph Recto voted against the bill citing the adoption of provision arming firefighters.

Those who voted against did so, as they objected to the same House-initiated provision earlier, allowing for the creation of a special security unit (SPU) for firefighters, who are allowed to bear arms while responding to fire scenes.

They are Minority Leader Franklin Drilon, Senate President Pro Tempore Ralph Recto, and Senators Nancy Binay and Francis Pangilinan.

Those who abstained were Senators Risa Hontiveros and Koko Pimentel.

Pimentel wanted to know from dela Rosa why the Senate bicameral panel still accepted the same provision that had already caused the first bicameral report’s rejection by senators.

“Is it worth all the debates; this [could] cause a possible rejection, if not delay of the approval of the measure?” Pimentel asked aloud.

For his part, Drilon pointed out to dela Rosa that, “not only did this chamber reject the first bicameral report, but the specific provision in the deliberations for the third reading of the bill,” so the bicameral contingent should not have agreed to it.

Senators have maintained that the task of securing firefighters in fire scenes— supposedly from people who attack them if they do not prioritize hosing down their houses—is best left to the police, not the firemen themselves.

In presenting the report on Senate Bill 1832 and House Bill 7406, also known as the

The bicameral panel subsequently “had a lengthy and extensive discussion regarding the creation and the composition” of the SPU. Sen. Ronald “Bato” dela Rosa Bureau of Fire Protection (BFP) Modernization Act, dela Rosa said the Senate conferees sought “the best reconciled version of the BFP Modernization Bill.”

The bicameral body adopted the provisions and title of the bill, which were approved during the first Bicameral Conference Committee meeting last May 24, 2021 except for Section 4(d) of the conference committee report which includes the establishment of the Security and Protection Unit or SPU— the sticking point among the lawmakers who objected.

Replying to Pimentel’s

BM

query on the cost of arming firefighters, dela Rosa said the small firearms mulled in the measure would cost an average of P35,000 each, so that the total cost of arming over 2,000 BFP personnel is P79,880,000.

“As the chairman of the Senate panel, I manifested during the bicam meeting the sentiment and concerns raised by the members of the Senate during the first attempt to ratify the reconciled bill on the establishment of BFP Security and Protection Unit.

However, the House conferees still insisted with their proposal to establish the BFP Security and

Protection Unit or SPU,” dela Rosa reported.

The bicameral panel subsequently “had a lengthy and extensive discussion regarding the creation and the composition” of the SPU, he added.

“Armed with the guidance from our Senate Majority Floor Leader Miguel Zubiri, the Senate panel through Senator Tolentino proposed an amendment to the proposal of the House conferees. We included in the bill the specific number of BFP personnel for SPU in order to limit the authority of the BFP on the issuance of firearms.

With this amendment, the Senate panel through Senator Hontiveros further amended the provision to ensure that those who will be appointed in the SPU will be well trained to handle firearms. As such, all SPU members shall be required to undergo neuropsychological examination before their appointment to the unit as well as periodic trainings,” dela Rosa added. Butch Fernandez

A4 Friday, August 6, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Dar plans to import fertilizer amid commodity price hike

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE Philippines is mulling over the importation of fertilizer and sell this at a subsidized cost to farmers in a bid to pull down the prevailing prices of the farm input that has been skyrocketing in recent weeks.

This was one of the measures revealed by Agriculture Secretary William D. Dar that the Department of Agriculture (DA) is studying to reduce the price of fertilizer in the domestic market.

“We will continue to touch base with our international suppliers and hope we can buy, I mean the government can buy from them or the government can import these fertilizers so that it will have cheaper landed cost,” he said in a video posted in his social-media accounts on Thursday.

“With the collaboration of international suppliers or subsidiaries, the government can bring in from other countries and sell at affordable prices that will really bring down the

prices of fertilizer today,” he added.

The Philippines is not spared from a global fertilizer supply problem, caused by higher demand from countries expanding their farmlands and stockpiling by some countries, the Fertilizer and Pesticide Authority (FPA) said.

Nonetheless, the FPA said the country has sufficient inventory stocks, which stood at almost 300,000 metric tons (MT) as of June 21, to weather the next cropping season.

However, the FPA said Filipino farmers will have to endure high fertilizer prices as they are expected to remain elevated until the end of the year, particularly for phosphates and urea.

“It is a global issue of supply and demand. When there are more buyers and less inventory then prices go up,” FPA Executive Director Wilfredo C. Roldan said at a virtual news briefing on Thursday.

“We are a net importer of fertilizer and we are losing supply [because other countries are buying more]. The

tenders now among countries cannot be served and so we expect supplies to be limited.”

Roldan explained that countries like India and Australia are importing more fertilizer due to plans to expand their agricultural farms.

He noted that India has embarked on a massive palm oil production and currently has an advance booking of 1.8 million MT of fertilizer supply, which the global manufacturers cannot supply.

On the other hand, Australia, Roldan added, is increasing its farm area by almost 400,00 hectares for crop production.

On top of these situations, Roldan pointed out that the higher freight costs—which has gone up from $20 to $50—have also contributed to the increase in global fertilizer prices.

Lastly, Roldan said China, one of the Philippines’s top suppliers of fertilizers, is stockpiling the farm input amid rising domestic fertilizer prices. A foreign news wire agency reported last week that some of China’s major fertilizer companies have

temporarily suspended exports to ensure ample domestic supply amid record-high prices.

FPA data showed that the average price of imported fertilizer per metric ton from January-to-May period rose by a fifth to $276.16 from $230.37 in the same period of last year.

During the five-month period, the country imported 894,662 MT of fertilizers, 2.44 percent higher than the 873,298 MT it purchased last year while value of imports expanded by 23 percent to $247.072 million, based on FPA data.

“My latest data shows that the average price of fertilizer is now at $500 [per metric ton],” Roldan said.

The average price of fertilizer has increased by as much as 40.5 percent on an annual basis depending on the grade, based on latest FPA data.

FPA data showed that the average price of granular urea in the last week of July rose by 40.5 percent to P1,393.32 per 50-kilogram bag from P991.45 per 50-kilogram bag recorded in the same period of last year.

CEB flight Habitat for Humanity spearheads competition brings back on building disaster-proof homes for Filipinos 264 OFWs from ME N

By Cai U. Ordinario @caiordinario

By Recto Mercene @rectomercene

S

OME 264 Filipinos from Dubai were flown home on board a Cebu Pacific (CEB) flight in response to the government’s call for assistance to repatriate workers in the Middle East (ME) while the travel ban is still in place.

Cebu Pacific flight 5J 27 landed at the Ninoy Aquino International Airport in Manila past 4 p.m. on Wednesday, August 4.

In command of the flight was Captain Mark Semon, assisted by First Officer Prince Michael Torres.

A 10-person cabin crew was deployed to assist the overseas Filipino workers during the flight, led by Lead Cabin Crew Elphill Capili.

“We continue to collaborate with the government and other stakeholders so we may bring more Filipinos home to their families,” said Alex Reyes, chief strategy officer at Cebu Pacific. “We are grateful for the opportunity to mount more special commercial flights.”

Passengers on this flight will stay for 14 days in a pre-booked, accredited facility-based quarantine upon arrival. They will undergo RT-PCR test after seven days.

The cost of quarantine accommodation and testing for land-based overseas Filipino workers (OFWs) would be shouldered by Overseas Workers Welfare Administration (OWWA), while the Philippine Ports Authority will cover the cost for seabased OFWs. Non-OFWs would have to pay for their own quarantine hotel and RT-PCR test.

The next Bayanihan flights are scheduledonAugust11and18. All nonOFWpassengersbookedontheseflights will be notified through e-mail regarding specific quarantine facilities they can book from.

On Thursday, CEB will also fly home 400 Filipinos from Dubai direct to Davao via 5J 09 in coordination with the Department of Foreign Affairs (DFA), and the Philippine Consulate of Dubai.

CEB operates the widest domestic network in the Philippines covering 31 destinations on top of its eight international destinations. Its 74-strong fleet, one of the youngest in the world, includes two dedicated ATR freighters and an A330 freighter.

EARLY two million houses in the country are vulnerable to disasters such as typhoons and earthquakes, according to Habitat for Humanity.

Habitat for Humanity said 1.6 million homes in the country lack “strong, adequate, and climate-resilient foundations” making these prone to destruction and a danger to those living in them.

“This is a concern because the Philippines experiences frequent seismic activities and is visited by at least 20 tropical cyclones annually,” the organization said.

“Many of these houses are owned by low-income families, who perceive that retrofitting their homes using traditional methods is either too expensive or unnecessary,” Habitat for Humanity said in a news statement.

The organization aims to change this by finding innovative solutions to building low-cost but quality shelter for Filipinos. Through a contest, Habitat for Humanity found innovative solutions and is testing the top solutions they found in over 300 homes in Barangay Bignay, Valenzuela City for low-income families.

The top 4 solutions were chosen

out of 80 entries. The top solutions were the Foundation-Fit System; Column Footing Beam Monolith; Kabir’s Building Stabilization Method; and Perimeter Concrete Reinforcement Retrofit for Concrete Hollow Blocks (CHB).

The Foundation-Fit System aims to provide a rigid, stable base to existing CHB homes without the need for digging or using common concrete poured galvanized iron C-purlins.

Habitat said this includes lintels over doors and windows, a wall cohesion improvement scheme, and a low-maintenance anchoring system.

The Column Footing Beam Monolith, meanwhile, claims to withstand the required gravity and special loads using isolated reinforced concrete footings with a plinth beam connecting all sides of a structure.

Kabir’s Building Stabilization Method presents an innovative concept of building and strengthening homes by combining special precast miniature piles with the in-situ concrete column that will be anchored to the existing walls of the houses.

The proposed Perimeter Concrete Reinforcement Retrofit for CHB Structures claims that it can be constructed with minimally skilled labor and can be applied to a wide variety of site conditions by providing a con-

tinuous reinforcing band around the base of the wall.

“Housing experts will judge them based on the following criteria: resilience against typhoons and earthquakes, availability of materials needed, ease of installation among masons and homeowners, and affordability among low-income households,” Habitat said.

Habitat said the field-testing involves a “lateral load test,” where the lateral forces of an earthquake and typhoon winds will be simulated and applied.

Using a high-capacity hydraulic jack and movement sensors, this simulation process aims to get the maximum load a structure with an applied solution can endure, how long it will take to crack, and any foundation structural failure it may exhibit.

A community acceptability survey will also be conducted among homeowners, whose sentiments play a crucial role in choosing the winner.

The initiative is done in partnership with InnoCentive, SeaFreight Labs, Holcim Philippines Inc., Hilti Foundation, and BASE Bahay Foundation, this competition is dubbed as the Habitat for Humanity Challenge: Increasing Resilience to Earthquakes and Typhoons for Homes with No Foundations.

DPWH sees completion of Jica-funded Marawi City road projects this month

By Lorenz S. Marasigan @lorenzmarasigan

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HE Department of Public Works and Highways (DPWH) said it targets to finish by the end of the month the last of the three contract packages of a Japan International Cooperation Agency (Jica) grant for Marawi.

DPWH Secretary Mark A. Villar said the rehabilitation of Marawi Transcentral Road Phase 1, which was funded through a Jica grant, shall be completed by end August.

The project, he said, “Has provided better access to basic services, increase trade, and contribute to the progressing economic activities in Marawi City, Lanao del Sur.” “Two of the three contract packages for this Japan International Cooperation Agency-grant project were completed with the remaining package on final finishing touches involving ancillary or drainage works

targeted to be finished this end of August 2021,” Villar said.

The design and build of BacongPoona-Marantao-Marawi Road, GMA Terminal Access, Marawi-Cadre-New Capitol, Marcos Boulevard, and Idarus Road Section with a total length of 5.45 kilometers under Contract Package 1-B was completed by the joint venture of Al Hussein Construction and N.B. Salbo Construction.

Meanwhile, Kouzbary Builders has completed the 3.9-kilometer road network capacity improvement for the MSU-GMA Road and Lumindong-Amaipakpak Avenue under Contract 2. The 18.97-kilometer Marawi Transcentral Road Phase 1 is part of the government’s comprehensive plan for the reconstruction and development of Marawi.

The government has instructed the consultant Woodfields Consultants Inc. and the joint venture contractors Unimasters Conglomeration Inc./MMA Achievers Construction &

Development Corp./CDH Construction/ Flying Seven Construction “to work together in order to meet the target full completion of all the remaining civil works for the 9.41-km Bacong-Iligan-Marawi Road Section under CP 1A this month.”

The DPWH has also started the Marawi Transcentral Road Phase 3, which is another 18.78-kilometer road rehabilitation project funded by Jica under the official development assistance (ODA) loan package.

On-going under Marawi Transcentral Road Project Phase 3 are four packages as follow: Package 3A with a total length of 4.87 kilometers consists of Cabingan-MSU Campus-Amai Pakpak Avenue (Road 6), MSU CampusMatampay-Marantao Road (Road 7), and Rapasa-Bayaba Road (Road 20); Package 3B with a total length of 4.92 kilometers that covers Emie-Sagonsongan-Linao-Lantian Road (Road 9-1), MSU-Bubo Road (Road 13), and Rantian-Paling Road (Road 14).

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DOT targets to inoculate over 73K tourism workers in five key leisure sites

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

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HE Department of Tourism (DOT) is targeting to vaccinate 73,477 tourism workers in five key leisure destinations in the country.

DOT Assistant Secretary Chris Morales told the BusinessMirror the priority destinations include Boracay, Bohol, Palawan, Siargao in Surigao del Norte, and Pampanga.

“The priority is A1 and A4 hotels, plus allied services,” he said.

As of August 4, just 14,482 tourism workers have received their first dose of the Covid-19 vaccine, while only 474 are fully dosed, having received their second jabs. Those included in the A1 category are frontline personnel of isolation and quarantine hotels, while those in A4 are tourism workers in general.

The DOT also lauded the opening of Manila’s drive-through vaccination site, which opened on July 31 at the Quirino Grandstand in Rizal Park. The vaxx site was set up in coordination with the National Parks Development Committee, a unit of the DOT. In a news statement, Tourism Secretary Bernadette Romulo Puyat said the drive-through facility can accommodate up to 100 reservations or 400 vaccinations per day. “Individuals are encouraged to register in advance via Manila’s vaccination web site www. manilacovid19vaccine.ph to reserve their slot. Each reserved client may bring up to three other registered individuals in their vehicle,” she said.

The DOT chief added, Manila City Hall’s initiative would fast-track the vaccination of more residents in Metro Manila, as it goes into a stricter lockdown, or enhanced community quarantine, beginning August 6.

Inoculations in Palawan start

FOR Palawan alone, the DOT is targeting to inoculate 31,000 tourism workers in Puerto Princesa City (16,000 workers), Coron, El Nido, and San Vicente. On August 3, Ro-

mulo Puyat and National Task Force against Covid-19 Deputy Chief Implementer Secretary Vivencio Dizon oversaw the ceremonial vaccination of tourism workers in the island province, recognized as among the best islands in the world.

“Today marks a milestone in the [DOT’s] pandemic recovery program as we begin the vaccination of tourism frontliners in four key destinations around Palawan,” said Romulo Puyat in her speech at the vaccination event. “It is crucial that we continue the swift rollout of the national vaccination program to prevent the spread of the Delta variant,” she said.

The NTF has initially sent 4,000 doses of Sinovac vaccines to Palawan.

The DOT chief, however, assured the tourism workers that more vaccines against Covid-19 will arrive in the succeeding weeks. Most of Palawan has been open to domestic travelers, arriving on point-to-point flights. ������������������������������� “������������������������������ Vaccinating our tourism frontliners will provide protection, peace of mind, and the confidence to travel as we boost recovery and restore livelihoods by promoting domestic tourism,” said Romulo Puyat.

She noted, “The escalating community quarantines is another roadblock in our progress, but it is a necessary and temporary setback to safeguard the public,” as she urged all eligible tourism stakeholders to get vaccinated. She underscored that travelers will be more confident in going on trips when tourism workers in their destinations are fully vaccinated.

Leisure travel is currently suspended in the National Capital Region until August 20. NCR provides the main source market for domestic travelers of a number of leisure destinations in the country, including Palawan.

Also present at the vaccination ceremony were Palawan Gov. Jose Ch.��������������������������������� Alvarez, Rep�������������������� . ������������������ Franz ������������ “����������� Chikoy” Al��� varez (First District), Rep. Gil Acosta Jr. (Third District), Puerto Princesa City Mayor Lucilo Bayron, and Mayors Amy Alvarez (San Vicente), Edna Lim (El Nido) and Mario Reyes (Coron).

Holcim’s Circular Explorer to help rid Manila Bay of floating garbage

By Jonathan L. Mayuga @jonlmayuga

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ETTING rid of Manila Bay’s floating garbage will be easier starting next year.

Cement firm Holcim Philippines Inc. said in a news statement issued on Thursday that in lending a hand in keeping Manila Bay garbage-free, the Holcim Group will lend the Circular Explorer, a vessel that will help collect marine litter, study the pollution, and raise awareness of communities and students on caring for the seas.

The company will receive in first half of 2022 from the Holcim Group the Circular Explorer, a solar-powered catamaran that can recover four tons of plastic wastes from bodies of water for recycling.

To be deployed in Manila Bay, the vessel was launched by the Holcim Group in Germany on July 21, 2021 to symbolize its commitment to driving the circular economy and preserving nature.

The Holcim Group is a leader in building solutions and recycling.

It is reusing 50 million tons of resources across its business and set to double recycling volumes by 2030.

The Circular Explorer is part of the Holcim Group’s stronger focus on sustainability and innovation, which includes the launch of the world’s first green cement made with 20 percent recycled demolition and construction wastes. The Circular Explorer will be operated by environmental organization One Earth One Ocean and supported by Holcim Philippines.

To further strengthen this

initiative, the company signed a partnership with the Marine Environment and Resource Foundation Inc. (MERF) at the University of the Philippines Marine Science Institute (UP MSI) on July 29, 2021 to develop innovative solutions against plastic pollution and advancing research on this field.

MERF and Holcim also agreed to develop capacity-building materials to communicate the effect of marine plastic pollution and opportunities to change behavior.

“Everyone has a role in preserving our oceans. We are proud supporters of the Circular Explorer to be part of the solution. I am inspired to see how young change makers can act as catalysts to solve some of our world’s greatest challenges. The Circular Explorer’s education and science programs are designed to mobilize them to take action,” Jan Jenisch, Holcim Group CEO said.

“We are excited to help restore the Manila Bay through the Circular Explorer. Its focus on science and education will greatly complement ongoing clean up efforts. Through the Circular Explorer, we will further advance circular economy or the preservation of natural resources by reusing materials as much as possible and have a more positive impact in building progress in the Philippines,” Horia Adrian, president and CEO of Holcim Philippines said for his part.

He added: “Finally, this is a flagship initiative of the Holcim Group to advance sustainability and innovation. We are greatly motivated to drive its success here in the Philippines.”

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PNP relents on ‘hatid-sundo’ rule on non-APOR driving for APOR

By Rene Acosta @reneacostaBM

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OLLOWING a public uproar over its serious implications on the mobility of health and economic frontliners, the government on Thursday eased its rules on the issue of transportation involving authorized persons outside of residence (APOR) by allowing them to be driven to and be picked up from their places of work by non-APORs. The slight changes—with two strict conditions for the eased policy —were announced by Philippine National Police chief General Guillermo Eleazar on the eve of the implementation of the enhanced community quarantine (ECQ) in Metro Manila to quell the surging cases of Covid-19 due to the Delta Variant.

“After weighing all these things, a new guidance was given today that will allow non-APOR to fetch our working APORs,” Eleazar said on Thursday, referring to the changes in the rules and the concerns raised by the public, including both the APORs and non-APOR. On Wednesday, the PNP chief

said that APORs would not be allowed to be driven to their work places, and instead would have to drive the vehicle on their own, or take public transportation. The same rules apply when they have to go home. If they could not drive on their own, they have to take public transportation.

He said the rules were adopted and would be enforced under the ECQ, justifying it as part of the anti-pandemic efforts along with the banning of inter-city travel while Metro Manila is observing the strictest lockdown, which will run for two weeks.

The PNP chief said the imposition of the twin rules were among the reasons behind the government decision to allow public transportation to operate on a 50 percent capacity.

The measures generated concern and criticism from the public, including from Sen. Panfilo Lacson and the Commission on Human Rights.

While APORs are now allowed to be driven to and fetched from their work places under the new guidance, Eleazar said, however, two conditions have been set and must be met, both by the APOR and

the non-APOR. These conditions are for “certificate of employment (COE) of the worker-APOR from the employer, indicating the name of the designated non-APOR driver/fetcher of the worker-APOR, the make and plate number of the vehicle to be used, and contact number of the employer” and a “copy of business permit of the employer.”

“These requirements are important in the conduct of random counter-checking by our policemen in order to ensure that the documents giving permits for our work force APORs to be dropped and picked up are legitimate,” Eleazar said.

The PNP chief defended the rule on hatid-sundo and its strict implementation, saying “it did not just appear out of thin air, or a whimsical decision of our policy-makers.”

It was, he said, “based on scenariobuilding when the quarantine rules are being crafted and was also corroborated by our police frontliners on the ground who experienced using this as an alibi to disregard and deliberately violate the rules on home quarantine and unnecessary crossborder travels,” he said.

DOH logs additional Covid-19 Delta, Alpha, P.3 variant cases

By Claudeth Mocon-Ciriaco @claudethmc3

A

TOTAL of 116 additional Delta variant cases were reported on Thursday by the University of the Philippines-Philippine Genome Center (UP-PGC) and the University of the Philippines-National Institutes of Health (UP-NIH), the Department of Health (DOH) said.

There were also 113 Alpha (B117) variant cases, 122 Beta (B1351) variant cases, and 10 P.3 variant cases detected in the latest batch of whole genome sequencing.

Delta variant

OF the additional 116 Delta variant cases, 95 are local cases, one is a returning overseas Filipino (ROF), and 20 cases are currently being verified if these are local or ROF cases.

Of the 95 local cases, 83 cases had an indicated address in the National Capital Region, while three had indicated addresses in Calabarzon, four in Central Visayas, two in Davao Region, and one each in Zamboanga Peninsula, Cagayan Valley, and Ilocos Region.

All cases have been tagged as recovered. All other information is being validated by regional and local health offices.

Among the total 216 Delta vari-

ant cases reported last July 29, the DOH verified one case which was tested in two different laboratories.

Both samples were sent to UP-PGC, sequenced after an anonymized selection, and detected with the Delta variant.

With this, the DOH is amending the previous total Delta variant cases from 216 to 215. This brings the total Delta variant cases to 331.

Alpha variant

OF the additional 113 Alpha variant cases detected, 104 were local cases, one ROF, and eight are currently being verified if they are a local or ROF case.

Based on the case line list, two cases have died and 111 cases have been tagged as recovered.

Apart from this, an Alpha variant case tested from one laboratory had two samples that were both sequenced.

With this, the total Alpha variant case as of July 29 is updated from 1,856 to 1,855.

This brings the total Alpha variant cases to 1,968.

Beta variant

OF the additional 122 Beta variant cases, 104 were local cases, four ROFs, and 14 cases are currently being verified if they are local or ROF cases.

All cases have been tagged as recovered. The total Beta variant cases are now at 2,268.

P.3 variant

OF the 10 additional P.3 variant cases, nine were local cases and one was an ROF. All cases have been tagged as recovered.

“The DOH would like to reiterate that these cases detected with the variants of concern are already Covid-19 positive, hence, clinical management and response remain the same.

Likewise, the DOH also said that while community transmission of the Delta variant is being studied, the national government, together with local government units, “should act aggressively as if there is already community transmission.”

“Due to the imposition of enhanced community quarantine on the National Capital Region, the DOH is urging the public to continue practicing the minimum public health standards at all times to prevent the spread of Covid-19,” DOH stressed.

The DOH is also reminding everyone to ensure there is good ventilation whenever indoors by opening windows and doors.

Moreover, the DOH reiterated to the public to avail of free vaccination program.

DENR, police, AFP halt small-scale mining operation in Nueva Vizcaya

By Jonathan L. Mayuga @jonlmayuga

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HE Department of Environment and Natural Resources (DENR) has dismantled smallscale mines and stopped their destructive activities in Quezon town, Nueva Vizcaya province.

The operations were spearheaded by the Mines and Geosciences Bureau (MGB) from July 27 to 29 in cooperation with the National Bureau of Investigation, Philippine National Police, Armed Forces of the Philippines (AFP), and FCF Minerals Corp.

Seized during the operations were mining equipment, including ball mills, shafting , diesel engines, pulleys and other equipment used

in the illegal mining activities in Barangay Runruno.

“In the case of illegal small-scale mining, miners tend to dig and drill with no proper control on extractive operations. These unregulated mining activities pose dangers to the environment, and even to human lives,” DENR Secretary Roy A. Cimatu said in a news statement.

MGB Region 2 Director Mario A. Ancheta said the absence of documents, permits, or authority in the conduct of mining operations and the transport of minerals/mineral products and by-products will be considered as prima facie evidence of illegal mining.

“This shall cause the seizure/confiscation of the minerals/mineral

products and by-products and the tools, conveyances, and equipment used in the commission of the offense in favor of the government,” Ancheta pointed out.

Prior to the operation, the MGB Region 2 directed an investigation of the ongoing small-scale mining operations within the Financial or Technical Assistance Agreement (FTAA) contract area of mining firm FCF Minerals Corp.

Subsequently, the MGB-Region 2 probe showed that the said firm has not yet utilized or developed the said area.

Given the location, Ancheta pointed out that the mining area cannot be declared as a “Minahang Bayan” site.

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Cusi appeals for discounted fuel pump price for frontliners

By Lenie Lectura

T

@llectura

HE Department of Energy (DOE) is appealing to oil companies to extend discounts to frontliners amid rising fuel pump prices.

“I am appealing to our partners in the industry, the oil companies, if possible,

[to] give fuel discount to our frontliners in the face of the hardships due to the pandemic,” he said, adding that the rising prices of oil in the world market is beyond the agency’s control.

The DOE said continued recovery in world demand has resulted in a global supply-demand balance crude oil deficits of 370,000 and

140,000 barrels per day (b/d), respectively, in the first and second quarters of 2021.

Based on reports, this market sentiment will continue to develop, with projected increasing demand versus ongoing supply restrictions from the Organization of the Petroleum Exporting Countries (OPEC) and United States’ sanctions against Iran

and Venezuela, which are all seen to be the underpinning factors pointing to sustained price increases for the rest of the year.

The DOE cited high demand, insufficient increase in supply and continuing US sanctions as among the reasons for high world oil prices.

Local oil firms adjust their prices weekly based on movements in the international oil market.

Platts Analytics’ projections for the third quarter of the year shows an increasing demand. The increase in demand is expected to be around 5.98 million b/d of crude oil higher than the second quarter.

Also, the projected increase of around 5.98 million b/d for the third quarter will not be fully covered by the projected increase in supply.

The projection shows that the nonOPEC countries will increase their supply only by around 830,000 b/d, while

OPEC countries have agreed only to increase their production by around 800,000 b/d for the third quarter (400,000 b/d installment per month for the month of August and September). This imbalance for the third quarter is expected to result to a projected insufficiency of crude oil global supply by around 4.35 million b/d.

Further to the ongoing OPEC crude oil supply restriction, around 2 million b/d from Iran and 700,00 b/d from Venezuela remain restricted due to US sanctions. These additional supplies could have helped eased the insufficiency of supply.

“We call on all members of the energy family in ensuring the unhampered delivery of services during the ECQ. Towards this end we had earlier issued and continue to issue the necessary credentials that would allow our industry players to provide essential energy services throughout the country,” added Cusi.

Lanao del Sur town to enthrone new Maranao royal figurehead

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

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AVAO CITY—A lakeside town in Lanao del Sur would install a new royal figurehead this month in what key leaders of the Maranao society described as a welcome addition to traditional leaders who could exert influence and authority to resolve pestering clan conflicts among them.

Maglangit Soba Decampong, a lawyer by profession and who has decades of experience in government service would be enthroned as Radiamuda sa Bayang on August 15 in his hometown in Bayang, Lanao del Sur. Decampong would rein over the Bayang Sultanate, one of the sultanates in the Bangsamoro Autonomous Region in Muslim Mindanao.

A hereditary ruler similar to a king, the Radiamuda is both a lay and spiritual leader who carries out Islamic and local traditional laws, an event statement said.

“His powers are authorized by long culture and tradition [Ijmah and Taritib] to help settle rifts and transactions among his folks. He also mediates in the resolution of rido, violent revenge between families, sometimes involving the military and insurgents,” it added.

Bayang is historically known as the “Little Mecca” in this province due to the religiosity of its constituents. In 1902, many local residents died in battle against American troops during the American colonization.

The sultanate system remains a vital thread in Maranao society, representing royal authority, cultural heritage and even purveyor of Islamic laws. The Maranaos trace their pedigree through their family tree, called the Salsila, which dates back to the beginnings of the Lanao royal houses.

Decampong’s lineage goes back to a maritime ruler from central Mindanao, the statement said.

Decampong studied accounting and law at the Mindanao State University, and pursued masters in business administration. He began government service at the Commission on Audit in the Quezon City head office. He transferred to the Bureau of Internal Revenue, starting in 1991 in Revenue Region No. 16 in Cagayan de Oro City.

For almost 30 years, he has been reassigned to various regions as revenue district officer. He was also tapped to give

DECAMPONG

lectures on codes of conduct and tax-related matters, and was sent to seminars abroad, including a seminar on taxation in Tokyo, Japan and Kuala Lumpur, Malaysia.

He was also a member of civic organizations such as the Rotary International, and was once a president of the Rotary Club of Wack Wack, a district governor’s special representative in the organization of Rotary Club of Mandaluyong.

Decampong is planning to set up the Radiamuda sa Bayang Trust Foundation, which consists of a Council of Elders and other concerned citizens to safeguard the community affairs, and to reconnect Bayang’s royal ties with neighboring Asian countries. He would put up a collection of royal heirlooms and fund a research on Bayang’s ancestors, the Iranuns, an enthnolinguistic group living in the boundary between Lanao del Sur and Maguindanao, and in Zamboanga, and Sabah in Malaysia.

The statement quoted Secretary Saidamen Pangarungan, secretary of the National Commission on Muslim Filipinos, as describing Decampong “an important voice in contributing to the call of the times.”

Lanao del Sur Governor Mamintal Adiong said he would look forward to working with him to solve peace and order issues. “My hope for you is to stand as a source of justice and an instrument for unity,” Adiong said.

In the next two weeks, town residents h ave organized activities leading to the enthronement, such as cultural presentation rek ind ling some Maranao music e n se mbles, like Kulintang, Bayok and Kalilang, free relief operations, and turnover of school projects facilitated by the new Radiamuda.

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PLDT eyes sale of some towers as new finance strategy

By Lorenz S. Marasigan @lorenzmarasigan

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ELCO titan PLDT Inc. is now reviewing its tower assets to pinpoint which ones are “not strategic” to maintain its position as the dominant telco in the country, with the sale of these towers maybe

on the horizon.

Manuel V. Pangilinan, the company’s chairman, said his group has met with financial institutions that “persuaded” the management to be open to selling “part” of its towers, as this may provide the company with a financially-sound strategy moving forward.

“We are at the start of the process of considering with what to do with the towers and we’ve spoken to a number of international banks and they have enlightened us on the advantages of selling part of our towers. We’re open to the idea,” he said during a news briefing.

Pangilinan explained that given

this, the group’s “job now is to identify the towers that are not strategic to what we want to achieve.”

“In our discussion with the banks, they managed to persuade us if we were to let go of some of our number of towers that are not strategic to maintaining our position as the dominant network in

the country —that led us to think that maybe we should be open to it as long as the financial case is beneficial to PLDT,” he said.

To recall, Bloomberg, citing anonymous sources, reported the PLDT is mulling over the idea of selling its tower assets for $800 million. After the sale, PLDT will just rent out the

assets to reduce costs. “Purely from a financial perspective, the transaction could also probably translate to a financial gain,” Pangilinan said.

He noted that the group is still at the early stages of the possible sale exercise, and has yet to reach a final decision for the valuation of the assets.

Excess revenue from GOCC collections possible source of aid, DBM exec says

By Bernadette D. Nicolas @BNicolasBM

T

HE government may tap its excess revenues from its collections from state-run firms this year for additional cash aid in Metro Manila should the enhanced community quarantine (ECQ) be extended beyond two weeks, the Department of Budget and Management said.

Budget Undersecretary and Officer in Charge Tina Canda said they have already exhausted the available funds under the 2020 national budget from the identified savings of government agencies. This yielded the government P13.1 billion to be used for cash aid to over 10 million residents in Metro Manila.

“Inubos muna namin ’yung 2020 na available pero pwede naman nating tignan kung sa 2021 meron na, kasi unang una, nakita namin na mukhang magkakaroon ng excess revenues ang BTr (Bureau of Treasury) from collections from government corporation or from other sources so that’s an available fund [now]. In the event na ma-extend ito ay talagang hahanap at hahanap tayo ng pondo dito [this is extended, we will have to look for funds],” Canda said

in an interview with Teleradyo.

Finance Secretary Carlos G. Dominguez III also said the government so far has P12 billion in excess revenues this year from dividends collected from government-owned and -controlled corporations (GOCCs).

“We were informed that the amount required is about P12 billion and we have indicated that we have sufficient excess revenue to cover this,” Dominguez told reporters in a message also on Wednesday.

In the meantime, Canda said they hope to release to the Department of Social Welfare and Development (DSWD) the funds needed for the cash aid to Metro Manila either Wednesday, Thursday or on Friday.

To cushion the impact of the reimposition of ECQ, each entitled individual in Metro Manila will get P1,000 or a maximum of P4,000 per household.

“The requirement for NCR (National Capital Region), if I’m not mistaken, is P10.89 billion. And we estimated that within this week we can release that fund, and the DSWD can download it in turn to local government units for payout to beneficiaries,” Canda said, partly in Filipino.

Malacañang earlier said the ex-

cess P2.4 billion in funds for the cash aid will serve as a “contingency budget” of the government in case it needs to give assistance to people not included in its initial target number of beneficiaries.

On the labor department’s plan to request an additional P2 billion to provide more cash aid for workers who will be displaced during ECQ in Metro Manila, Canda suggested that the DOLE use first whatever remaining balances they have.

“Our rule is that you use first what you have. You maximize, so we’ll have to refer to the financial statements of DOLE (Department of Labor and Employment). If that fund is still big, even if they request for P2 billion the DBM will surely tell them to first make use of the funds with them,” she said.

Should DOLE’s funds be insufficient, Canda said the DBM would augment it subject to the approval of the President. She added, “but in the absence of any information at this point, maybe DOLE can use their existing funds first.”

Canda pointed out that DOLE must also consider that some workers displaced during ECQ in Metro Manila may also receive the cash aid

Eternal Gardens continues to advocate devotion, dedication to the Transfiguration of Jesus Christ

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TERNAL Gardens was established with the vision to become a leader in memorial park development in the country, and to give Filipinos a beautiful and dignified final resting place when the inevitable comes. But in the process of building what is now one of the trusted memorial park companies in the Philippines, founder Ambassador Antonio L. Cabangon Chua found another meaningful purpose for it, one that Eternal Gardens faithfully upholds up to this day.

Jesus Transfigured

EACH of the 11 Eternal Gardens parks is characterized by a towering statue of Jesus looking up to the heavens with His hands outstretched. This statue is called the Transfiguration of Jesus Christ, honoring one of the most important events in Jesus’ life and ministry on earth.

Three of the four Gospels have records of the Transfiguration of Jesus: Matthew 17:1-9; Mark 9:2-8; and Luke 9:28-36. These accounts tell the story of how Jesus took three of his apostles, Peter, James, and John, up on a mountain where He was transfigured. His face shone like the sun, and His clothes became glistening white.

As Jesus was transfigured, Moses, representing the Old Testament Law; and Elijah, representing the prophets, appeared beside Him. Thus Jesus, who stood between the

two and spoke with them, appeared to the apostles as the fulfillment of both the Law and the prophets.

After overcoming the shock caused by the vision before him, Peter said, “Rabbi, it is good that we are here!

Let us make three tents: one for you, one for Moses, and one for Elijah.” But then a cloud came, casting a shadow over them, and from the cloud a voice was heard saying, “This is my beloved Son. Listen to him.”

These were the same words proclaimed by God the Father during the baptism of Jesus in the river Jordan, which was a declaration of the divinity of Jesus even as He became man.

The faithful believe that the purpose of Jesus’ Transfiguration was to give the apostles a preview of His resurrection, and strengthen their faith at the time of his impending earthly demise. Today, the same miraculous event gives us hope of eternal life with Jesus, and inspires us to trust in Him, especially during these trying times, as we continue to endure the effects of the pandemic.

A symbol of excellence

ETERNAL Gardens helps propagate the devotion to the Transfiguration of Jesus Christ through the magnificent images found in each park. The religious icon has become a prominent landmark in the cities where an Eternal Gardens Park is located, and is the definitive symbol of the com-

pany’s commitment to excellence.

In setting up the maiden branch of Eternal Gardens in Baesa, Caloocan City in 1976, Ambassador Cabangon Chua had an inspired idea of building a monument of Jesus Christ to distinguish his park from the others. Then he thought of the perfect artist to realize his idea: Dean Napoleon V. Abueva.

Fresh from being named National Artist for Sculpture at the age of 46, the youngest to be conferred the honor, Dean Abueva was formally tapped by Ambassador Cabangon Chua to design and execute the very first image of the Transfiguration of Jesus Christ for Eternal Gardens. He was chosen not only for his great talent, but also, and more notably, for his deep religious faith that aligned with the beliefs of the founder.

Aside from the Transfiguration of Jesus Christ statue in Baesa, which Dean Abueva completed in 1979, the National Artist also crafted the ones found in Eternal Gardens Cabanatuan and Santa Rosa branches.

Other notable Filipino artists shaped the image of Christ Transfigured for the other branches of Eternal Gardens, following the original design of Dean Abueva. Amado Castrillo did the images in the second park in Dagupan in 1983; the third in Biñan, Laguna in 1984; barangay Balagtas, Batangas City in 1986; Lipa City in 1992; and farther south in Naga City in 2000.

The Transfiguration at Eternal Gardens Cagayan de Oro, the company’s first park to open in Mindanao, is a work of leading sculptor Conrado F. Balubayan. Balubayan also made the image in Cabuyao City, Laguna, which is the latest Eternal Gardens Park to open.

A tradition of faith

ANOTHER means by which Eternal Gardens advocates devotion to the Transfiguration of Jesus Christ is the annual commemoration of its feast at all Eternal Gardens parks on August 6. On this day, Holy Masses are held at some of the parks, while others sponsor the celebration of Holy Masses at their respective parishes.

from DSWD through the local government units.

“We have to be very careful to ensure there is no double payment because that’s the hard part here— we might get many complaints later asking why so and so got double but they didn’t get anything,” she said.

2022 budget

DESPITE Budget Secretary Wendel Avisado’s medical leave, Canda expressed confidence they will be able to submit the P5.024-trillion 2022 National Expenditure Program to Congress on time.

Canda said they target submission on August 23, days ahead of their August 25 deadline.

Under the Constitution, the executive branch has 30 days from the opening of the regular session of Congress to make the submission to lawmakers.

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BusinessMirror

A8 Friday, August 6, 2021

EMPLOYERS CUTTING WORK FORCE IN ECQ MORE THAN DOUBLE

By Samuel P. Medenilla @sam_medenilla

T

HE number of establishments in Metro Manila with reduced workforce more than doubled a week after the government announced the region will be placed under a two-week lockdown, according to the Department of Labor and Employment (DOLE).

In an television interview on Thursday, Labor Assistant Secretary Dominique R. Tutay noted that the number of National Capital Region (NCR) employers, reporting for the period from July 30 to August 4 and who said they will be implementing flexible work arrangements such as reduced work hours or job rotation, had risen to 178.

A total of 5,322 workers will be affected by the work schemes, This was significantly higher compared to the 80 establishments with 2,675 employees on July 30, when the government declared NCR will be placed under enhanced community quarantine (ECQ) from August 6 to 20, 2021.

Tutay explained most of the flexible work arrangements in NCR, which were reported to DOLE, will start on Friday, the first day of the ECQ to be implemented by the government to contain the rise in Covid-19 cases in the region.

“At the ground level, you would already see the impact of the ECQ announcement. For instance, many stores in the food courts in malls already stopped their operations,”

Tutay told BusinessMirror in a Viber message.

Long-term impact

SHE said the number of establishments taking such reduction options could increase further even after the ECQ. “The impact of the two weeks of lockdown [on the employment sector] will be significant. And if this will be followed by a MECQ (modified ECQ), which is the usual track after an ECQ, many establishments and workers will still have a difficult time [to recover],” Tutay said.

DOLE earlier said it expected at least 127,000 workers to be displaced with the latest round of ECQ in the country’s capital.

Tutay said this will be on top of the 300,000 workers who were permanently or temporarily displaced by their 6,000 employers from January to July.

Labor and Employment Secretary Silvestre H. Bello III, however, remains hopeful the labor force in NCR can recover with government assistance, which includes financial aid from local government units (LGU) and emergency employment from DOLE. He reiterated his appeal to the Department of Budget and Management (DBM) to grant DOLE’s request for an additional P2 billion, which DOLE hopes to use to finance its Covid-19 Adjustment Measures Program (CAMP).

CAMP is a one-time P5,000 financial assistance given by DOLE to displaced formal sector workers.

‘SLOWER JULY INFLATION SHOWS SCRIMPING MODE’ Continued from A2

Weather

APART from the pandemic, Ateneo Center for Economic Research and Development (ACERD) Associate Director Ser Percival K. Peña-Reyes told BUSINESSMIRROR the slowdown in consumption due to inclement weather may have also been a factor.

Peña-Reyes noted that Typhoon Fabian, which also occurred mid-July, made it more difficult for suppliers to deliver goods and for consumers to access them.

He also agreed with Terosa that work-from-home arrangements may have also tempered the demand for these kinds of commodities.

BPI Chief Economist Emilio S. Neri Jr. told BusinessMirror that the slowdown in inflation in July is due to a combination of “strong demand for essentials but also sustained weakness in demand for non-essential services.”

For example, Neri said, “the demand recovery for essentials is evident as the community quarantines were eased which has led to a weaker peso as the country’s imports have been picking up pretty fast. On the other hand, air fares continue to fall due to lack of travel demand.”

He said with this, it cannot be concluded that the slowdown in inflation was due to weak demand, and “by no means justifies a policy rate cut.”

Neri said, however, that the RRR reduction was a different matter since this is more of a medium-term Bangko Sentral ng Pilipinas (BSP) policy commitment.

Signs of improvement

MEANWHILE, former ACERD Director Alvin P. Ang held a different view. He said the slower inflation in July showed signs of improvement in the economy.

Ang said the increase in prices may have slowed due to greater availability of these commodities as restrictions were eased.

He explained that in the past, the increase in inflation was mainly driven by the shortage of these commodities.

“Maybe public transport became more accessible and more people went out. These are signs of improvement (that extended) until the last week (of July),” Ang said.

Food inflation

THE National Economic and Development Authority (Neda) said overall food inflation slightly increased from 4.9 percent in June to 5.1 percent

in July. In particular, fish inflation accelerated from 8.7 percent to 9.3 percent due to Typhoon Fabian which affected regional port operations.

The Neda said in a statement that vegetable inflation also turned positive from -2.7 percent to 5 percent due to the flooding caused by heavy south monsoon rains.

Pork inflation, the main driver of inflation in 2021 due to the outbreak of the African swine fever, fell from 49 percent in June to 38.4 percent in July. This contributed to the slower meat inflation of 16 percent in July. Average rice prices also continue to decrease with rice inflation at -1 percent.

“We are now seeing the benefits of Executive Orders 133 and 134. We expect pork prices to go down further in the second half of the year as more imports come in through the increased minimum access volume allocation and lower tariffs. Rest assured that we will continue to proactively manage any threats to the country’s food security, especially during the ECQ,” Socioeconomic Planning Secretary Karl Kendrick T. Chua said.

To manage fish inflation and ensure stable fish supply, the Department of Agriculture will fast-track the issuance of the certificate of necessity to import (CNI) fish to cover the domestic demand gap during the closed fishing season starting October 2021.

Meanwhile, non-food inflation slowed down from 3.4 percent in June to 3.2 percent in July. One of the main drivers was the decrease in transport inflation from 9.6 percent to 7.0 percent as mobility in the country continued to improve.

However, with the emergence of the more contagious Covid-19 Delta variant, the government has prioritized saving lives and managing the risks from Covid-19 through heightened restrictions in high-risk areas from August 6 to 20, 2021.

“While the ECQ is expected to slow down economic activities in August, this is an investment towards a strong recovery in 2021. We encourage everyone to use this time to get vaccinated, so we can safely reopen the economy once we have contained the spread of the Delta variant,” Chua said.

NCR, AONCR

MEANWHILE, inf lation in NCR in July 2021 stood at its previous month’s annual rate of 3.2 percent.

In July 2020, inflation in the region was posted at 2.2 percent.

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₧60-B ecozone projects pending in countryside

O

By Tyrone Jasper C. Piad @Tyronepiad

VER P60 billion worth of economic zone projects in the countryside have remained pending despite an administrative order (AO) mandating authorities to spur investments outside the National Capital Region (NCR).

Based on data obtained by the BusinessMirror, the Philippine Economic Zone Authority (Peza) has approved P60.68-billion ecozone projects—representing 50 inquiries—in the countryside as of June 30, but these have yet to receive a proclamation from the Office of the President.

Majority of these investments are 32 manufacturing projects amounting to P41.78 billion, followed by 12 information technology (IT) centers with a total of P7.81-billion proposals.

Other pending investments include two agro-industrial projects amounting to P50.1 million; four IT parks, P10.23 billion; and an inquiry for tourism-related venture, P802.44 million.

“We aim to increase our public zones in every region and invite all

agencies managing public lands, ancestral domain lands and the private idle land to become ecozones,” Peza Director General Charito Plaza told this newspaper.

This is in line with AO 18, which bans new ecozone developments in Metro Manila in a bid to boost economic activities in the regions. The order was released in June 2019.

“We spread the investments, technology, jobs, livelihood and complete our supply chain,” she said, noting this makes the country “self-reliant; self-sustaining; resource generating; and production, manufacturing and export driven economy.”

The goal is to minimize the import and boost the country’s contribution to the global supply chain, Plaza added.

The Peza chief said they are fully

“We aim to increase our public zones in every region and invite all agencies managing public lands, ancestral domain lands and the private idle land to become ecozones.”

CHARITO PLAZA

BM

PEZA DIRECTOR GENERAL

implementing the agency’s ecozone development program. “We are now conducting orientation, identifying public and private lands in the countryside to become different types of ecozones so we can attract and locate different types of industries,” she said.

Peza earlier mentioned it hopes to put up more pharma parks; Knowledge, Innovation, Science and Technology parks; aqua-marine and renewable energy parks; mineral processing ecozones; Halal hubs and production; and defense industrial complexes.

In response to the mandate of creating more ecozones in the countryside, Plaza told the BusinessMirror earlier they are setting up additional regional offices, which are intended to be operational by January next year.

“We are envisioning that our economic zones will become the

economic driver so that we can convert towns to become smart towns, digital cities. Hopefully, with the economic zones in the regions, we can create a new metropolitan in every region,” she said.

Recently, the BusinessMirror reported that around P16.07 billion worth of investments for IT parks and IT centers in Metro Manila have remained pending this year amid the moratorium on processing new economic zones in the capital region.

These include 10 applications for IT centers amounting to P15.5 billion and one inquiry for a P573.93million IT park as of April 30.

Currently, 167 IT parks and centers are located in NCR, mostly in Makati, Quezon City and Pasig.

There are in total over 290 IT parks and centers across the country out of 410 ecozones under Peza’s regulation.

MAD RUSH. Walk-ins flock outside SM Masinag in hopes of getting their Covid-19 vaccine jabs, but are later ordered by authorities to leave the place and return home as the limit for the number of doses available had been filled.

Elsewhere in Metro Manila, local government units were taken to task for the surge in people in vaccination centers, but officials later discovered that in some areas, “fake news”—that unvaccinated people, though qualified for “ayuda,” will not get any —was behind the mad rush. NONOY LACZA

‘Paltry results’ in BARMM disarmament process rued

H

OW has the BTC (Bangsamoro Transition Commission) performed in carrying out its mandate of laying down the foundation for a comprehensive development program for the Bangsamoro Autonomous Region in Muslim Mindanao? Was decommissioning of former combatants proceeding apace?

These questions were raised

by Sen. Imee Marcos in a recent interview regarding the status of her resolution calling for an investigation of the BARMM budget and spending.

Republic Act 11054 that President Duterte signed into law on July 26, 2018 created the BARMM, but critics have noted

that despite the P160 billion in public funds poured into the region from 2020 to 2021 and the P30 billion in remaining funds turned over to BTC in 2019 by the now defunct Autonomous Region in Muslim Mindanao (ARMM), “the rest of the country is yet to see a completed project in BARMM.” Marcos filed Senate Resolution No. 729 on May 31, 2021, directing the Senate Committee on Finance to conduct an inquiry into the expenses on rehabilitation, development projects of conflictaffected community in the region, as “there is too little progress and change in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).”

For the billions it received in block grants and national assistance, the senator noted, “the vital efforts of decommissioning and disarmament have yielded paltry results.”

She wanted to know: “Is it true that all those funds have instead mysteriously gone to more and better guns for its officials and their clans?”

Under the General Appropriations Act (GAA) of 2020, BARMM was allocated an annual appropriation of P7 billion, an Annual Block Grant of P63.6 billion, and a Special Development Fund of P5 billion. In addition, under the 2021 GAA, the BARMM was also given an annual appropriation of P8.6 billion, an

Annual Block Grant of P71.6 billion, and a Special Development Fund of P5 billion.

“How many real armed combatants have been decommissioned, far less than the 1/3 claimed we hear?” the senator asked.

“The record on laying down arms is worse—with only a tenth of the recorded apparently surrendered, most of them ancient and unusable,” she noted.

“No wonder the President has repeatedly expressed his frustration and warned angrily against the continuing violent confrontations in BARMM, tolling significant losses in soldiers, civilians and even children’s lives,” Marcos added.

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‘Expanding ECQ areas to swell ‘ayuda’ to ₧30B’

T

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE government would need nearly P30 billion to bankroll one round of social amelioration program (SAP) or ayuda if Calabarzon is included in the two-week enhanced community quarantine, the House of Ways and Means chief said Thursday.

House Ways and Means Chairperson Joey Sarte Salceda said the government will need up to P29.7 billion to fund the ayuda for households in the National Capital Region and Calabarzon based on President Duterte’s P1,000-per-person pronouncement.

“The Palace gave the reassurance that there will be no ECQ without ayuda. President Duterte already said his administration will give P1,000 per head. For NCR and Calabarzon combined, that’s P29.7 billion,” he said in a statement.

“If we follow the scheme proposed by the economic managers, which is targeted towards 80 percent of households, we need P21.6 billion,” he added.

Salceda said the government coffers could bankroll the ayuda if the government opts to increase the required dividends from government-owned and -controlled corporations (GOCCs) from 50 percent to 75 percent. Doing so would yield a P27-billion intake, Salceda added.

“That is not to say we should just go with it and declare an ECQ. I would be

very circumspect about declaring an ECQ, particularly since new jobs are still very vulnerable and prices are still unstable due to food and transport,” Salceda added.

“But, if we had to, we have enough for two weeks. The question is what happens next,” Salceda also said.

Bayanihan 3

SALCEDA emphasized that the government must immediately pass Bayanihan 3 funding to ensure financial availability for future ayuda if the strict lockdown measures are imposed anew beyond the August 6 to August 20 timeline.

He noted that the appropriations for both Bayanihan 1 and 2 have already lapsed and there is “very little room left in the 2021 budget to move around and reallocate.”

“For succeeding rounds of ECQ, we might not have the authority to give aid even if there is money, which is also not guaranteed for other lockdowns.

The government can require GOCC dividends or even borrow, but I don’t

know where we will ‘house’ them under the budget, since all spending requires some form of authorization,” he said.

“I think we will still need Bayanihan 3. Just to make sure we have a house for further ayuda,” he added.

Salceda said the government should also make “less expensive investments than lockdowns but [which] are more efficient” like providing more funds to the Philippine Genome Center to expand its genome sequencing capacity to Visayas and Mindanao.

“One most glaring example is that the Philippine Genome Center is asking for P100 million to expand genome sequencing to Visayas and Mindanao. That’s very crucial now that we’re dealing with variants,” Salceda said. “And we do not have a house for that under the current budget. And we can’t wait until 2022 to have this funded. So, we still need some form of emergency or supplemental appropriations. It’s not yet a stimulus. We just have needs like this that we do not have the budgetary authorization to meet yet,” Salceda explained.

Friday, August 6, 2021 A9

PALACE: NO NEED FOR SUPPLEMENTAL BUDGET FOR ‘AYUDA’

By Samuel P. Medenilla

M

@sam_medenilla

ALACAÑANG currently sees no need to request for a supplemental budget from Congress despite the government’s massive funding need for cash aid in areas under lockdown.

In an online press briefing on Thursday, Presidential spokesperson Harry Roque said they are still reviewing the 2021 national budget to determine if they will need a bigger budget from lawmakers for financial assistance for those affected by the fresh quarantine restrictions.

“If it [funds] will be insufficient, that will be the time the Executive department will request for a supplemental budget from Congress,” Roque said.

Roque earlier said the Executive department is not keen on the passage of Bayanihan 3 bill, which will provide fresh funding to the government’s Covid-19 response, since it still has the balance from the two previous Bayanihan laws as well as the 2021 national budget.

The government allocated P13.1 billion, to be used for cash aid to over 10 million residents of Metro Manila, for the duration of its lockdown from Aug. 6 to 20, 2021.

The fund will be sourced from the unobligated funds from government agencies and excess revenues from government-owned and -controlled corporations (GOCC).

The Department of Budget and Management (DBM) said GOCCs have at least P12 billion in excess revenue, which can be used for financial aid in areas under lockdowns.

A10 Friday, August 6, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Employment adjusting to the pandemic

T

he last 18 months has changed the world, obviously. But maybe more significantly, it has changed all of us well beyond our personal and public health concerns.

American psychologist Abraham Maslow in his 1943 paper “A theory of Human Motivation” in the journal Psychological Review created his triangle “Hierarchy of Needs” concept. At the top are the Growth Needs, including a stable self esteem, “aesthetically pleasing experience,” and the needs that refer to the realization of one’s full potential and spiritual needs.

However, at the bottom, the foundation is the Physiological Needs, the requirements for human survival: food, drink, shelter, clothing, and warmth. That takes money to obtain, and money has been a problem for so many people.

The first two job-related results from the pandemic were losing a job or working from home. The old story about one candle gives off little light but a thousand candles can light a building applies to the workfrom-home scenario effects.

We have seen a sea change globally from work-from-home (WFH) that will have far reaching economic and social consequences. On one hand, people miss the interaction with their coworkers. On the other hand, in the majority of cases, employee productivity has actually improved. Of course, it depends on the industry and specific job.

A study of 16,000 workers over nine months found that working from home increased productivity of a travel agency call center by 13 percent. Further, workers also reported improved work satisfaction, and attrition rates were cut by 50 percent. Another study of over 1,000 employees of businesses from many different industries and company sizes where WFH was feasible showed that 70 percent of respondents had a positive experience with WFH and that 86 percent of employees would like to continue working remotely at least once a week.

In the survey, a large 79 percent of respondents named the lack of commute as one of the best things about WFH. Economists are already looking at the broad effects—less cars being purchased, less road traffic, and even less pollution—from WFH. But many people lost their employment. In 2020 we met Mary Mae Dacanay, a 23-year-old factory worker from Laguna who lost her job when the Covid-19 pandemic struck. She discovered her talent for leaf carving. Within a few months, she sold hundreds of her art pieces, each for about P400, enabling her to pay the bills.

It is interesting how, left without negative interference primarily from government, people and economies can adjust to adversity.

Globally, international sale of exported human hair is big business with a 20-percent increase in 2020 from 2019. Natural human hair is a valued commodity, processed by businesses into hair extensions and wigs. The biggest three exporters of human hair are India, Hong Kong, and Myanmar.

Shortages of hair in 2020 led to higher prices. The Indian Department of Commerce reported the value of human hair exported from India rose by 45 percent in 2020 and the volume exported rose by 39 percent. “The biggest market for human hair products is the United States, where the products are popular among African-Americans and fashionistas,” says the Indian fashion web site “The Voice of Fashion.”

The value of human hair and related products exported from India amounted to approximately $255 million in 2020, according to the Indian Department of Commerce.

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Better Days

W

ith the Tokyo Olympics winding down this weekend, our countrymen are already reveling at the fact that for the first time in nearly a century, Team Philippines will be coming home with multiple medals.

The last time we achieved this feat was at the 1932 Los Angeles Olympics, where bronze medals were earned by swimmer Teofilo Yldefonso for the 200-meter breaststroke, Simeon Toribio for the high jump, and Jose Villanueva for boxing at the bantamweight division.

As of the writing of this column, the story of our historic Tokyo Olympics medal haul so far involves Nesthy Petecio becoming the first Filipina to win a silver medal at the women’s featherweight event for boxing, with her teammates Eumir Marcial earning a bronze for men’s middleweight and Carlos Paalam assured of a silver in the men’s flyweight division.

The highlight of our nation’s showing is of course the epic performance of our weightlifting champion, Hidilyn Diaz. She will forever stand tall in our nation’s history as the first Filipino athlete to have ever won a gold medal since the Philippines started participating in the quadrennial

games in 1924. And in response to her triumph, praise and tributes were rightly made to her name all over the country. One of our Senate colleagues even filed a resolution urging for a monument or a marker to be put up by the National Historical Commission of the Philippines to commemorate her historic win.

Truly, the victories of our national athletes at Tokyo should be celebrated, not only for their athletic achievements but also for the way through which many of them transcended enormous challenges and roadblocks to get to where they are today. For all their triumphs, they would have most likely received a jam-packed heroes’ welcome here at home—if it weren’t for the pandemic and the recently intensified community quarantines.

So absent the fanfare, it’s only right then that our champions receive some form of reward. Thankfully, several of the country’s biggest

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conglomerates have already offered Hidilyn and Nesthy various gifts— both monetary and in kind. For our part, we’re happy to note that on the basis of the National Athletes and Coaches Benefits and Incentives Act (RA 10699), which we authored and was enacted in 2015, our medal-winners and their respective coaches will receive significant monetary gifts from the Philippine government.

Apparently, even the non-medalists would be coming home with a cash incentive from the Philippine Olympic Committee (POC).

Of course, these incentives or gifts for our Olympians are best viewed as merely “icing on the cake.” If anything, the better reward or takeaway that should come out of this multi-medal haul is for the various stakeholders—the Philippine Sports Commission (PSC) and the POC, the national sports associations, the private-sector benefactors, and even the citizenry in general—to sustain the momentum that has already been generated.

The important question to ask at this point is, “What was different this time around?” One thing that can be said is that public funding has increased drastically. Where in 2012 the allocations for the PSC amounted to P178.2 million, this had already ballooned to P1.303 billion in 2021—a little more than a seven-fold increase.

Prior to the games, PSC Chairman Butch Ramirez told the media that the Philippines would be sending to Tokyo its “strongest, most prepared” delegation to date. He explained that

with the additional financial support that was poured in starting from the 2016 Rio Olympics came increased chances for foreign exposure for the athletes—that is, they were able to compete in international sporting events as part of their training.

The increased funding also helped with the hiring of foreign coaches— notably Australian Don Abnett for the Philippine boxing team; Chinesenational Gao Kaiwen for Hidilyn Diaz; Japanese-national Munehiro Kugimiya for gymnast Carlos Yulo; and Russian Vitaly Petrov for polevaulter EJ Obiena.

Be that as it may, some of our athletes still came out publicly to ask for support for their Olympic campaigns, pointing to the reality that world-class preparations demand real investments. Thus, government support can perhaps still be ramped up further in the coming years.

Hopefully, in the coming days, more stories will emerge about how exactly our athletes were able to emerge victorious. These should inform our next steps, and help begin anew our next campaign for Olympic gold. In the end, given what we’ve already accomplished, there’s no reason for us to take another century before our athletes bring home another multi-medal haul.

Sen. Sonny Angara has been in public service for 17 years. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate.

E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

Anatomy of greed: Equity fraud threatens to erode investors’ confidence in the stock market

T. Anthony C. Cabangon

BusinessMirror is published daily by the Philippine Business Daily Mirror

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A multi-medal haul

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hey say that money is the root of all evil. Its intoxicating allure drives wily people to engage in get-rich-quick-schemes. Some are caught, while many continue to do underhanded work that to this day could have remained undetected by regulatory radar.

Through the years, the equities market has been rocked by financial frauds. In 2016, Jose Peñaflor, a former Philippine Stock Exchange (PSE) employee and veteran trader, managed to steal P100 million from clients he duped into thinking they would be investing in legitimate stocks.

Just this month, 22 years after the stock market was stunned by the biggest scandal in its history, Johnny Yap of Solar Securities was convicted for illegal trades linked to the 1999 stock price manipulation scam involving BW Resources Corp. The Pasig City Regional Trial Court (RTC) sent him to prison for 14 years for the act, which led to a mind-boggling 1,462-percent

surge in the share price of BW in just a year. Yap was also ordered to pay a fine of P1 million.

These are only a few of the identified frauds in the country’s equities market perpetrated by “wolves” whose illegal money-making schemes mutate faster than the measures put in place by regulators to stop them in their tracks.

Another scam, which was recently uncovered—and which PSE described as the “worst-ever to hit a brokerage house”—involves two companies: the 50-year-old R&L Investments Inc. and Venture Securities Inc. They were dragged down by the fraudulent schemes executed by R&L employee Marlo Moron, and Venture client Ju-

lieto Sulapas. The two conspired to make money out of EQ trades, a platform used for transferring shares between brokerage houses.

Under EQ trades, it is perfectly legal for clients to transfer their shares between brokerage houses where they have existing accounts.

Such is permitted if the shares to be transferred from one brokerage house to another are under the same name. But what Moron did was to steal the shares of R&L clients, transferred them to Sulapas who in turn instructed Venture to sell them. For seven years, the two went on their merry scamming way unnoticed. A total of P1.13 billion worth of client shares in R&L were transferred to Sulapas’ Venture account through EQ trades executed by Moron from 2012 to 2019.

But for their inability to moderate their greed, their scheme was uncovered in November 2019. At the end of trading day, R&L failed to account for P3 million worth of its client stocks.

After a more thorough audit, the firm realized that almost all its inventory was wiped out, resulting in the loss of P700-million worth of client shares.

The loss was so massive that R&L could not readily meet the demands of its cli-

ents for the delivery of securities and payment of sales proceeds.

On June 11 of this year, R&L’s license was revoked by the Securities and Exchange Commission (SEC). The firm and its key officers were slapped with P25 million in penalties. The SEC’s special hearing panel (SHP) found R&L President Joseph Lee, nominee and treasurer Lucy Linda Lee, and associated person Jonathan Lee liable.

It also found Moron and Sulapas answerable for engaging in fraudulent transactions and violating the Securities Regulation Code.

Moron, who started out as R&L clerk, gained the trust of Lucy Lee who taught him the ropes. Soon, he obtained viewing access to R&L’s backoffice system, giving him the keys to information of all clients’ shareholdings and business partner portfolio reports.

Venture, on the other hand, was stripped of its broker-dealer license and slapped with penalties totaling P32 million by the SHP for its role in the fraud that led to the collapse of R&L. In its June 11 decision, the panel cited acts and omissions on the part of Venture and its officers that “indispensably contributed to, if they had

See “Villanueva,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Golden moments in amateur boxing

Friday, August 6, 2021 A11

My own rhapsody in August Tito Genova Valiente

annotations

Manny F. Dooc

TELLTALES

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oxing is our country’s most prolific sport. The Pinoy athletes’ superb performance in the on-going 2021 Tokyo Summer Olympics is a testament to this. With four more days to go as of this writing, the Philippines boxing contingent has already won a silver, courtesy of Nesthy Petecio, and assured of two more bronze medals.

Nesthy is one of the finest female amateur boxers our country has produced. While she narrowly missed the gold after losing to her Japanese opponent in the finals, two male boxers are still in the running for gold. Our collective prayers go to pugilists Eumir Marcial and Carlo Paalam. One or both of them may still deliver the elusive gold in boxing, a sport event where a number of our compatriots who have competed in professional boxing have become world champions. No Filipino Olympian has struck gold until weightlifter Hidilyn Diaz accomplished the feat in Tokyo last week. She surpassed her silver medal finish in the same event in the 2016 Rio de Janeiro Olympics.

The country’s total medal haul before the Tokyo games was 3 silvers and 7 bronze medals. Two of the silvers were won by boxers—Anthony Villanueva in 1964 Tokyo Summer Olympics and Mansueto “Onyok” Velasco in 1996 Atlanta Olympics.

Both athletes are related to former Olympics winners. Boxer Leopoldo Serantes added another bronze medal during the 1988 Seoul Olympics.

Thus far, boxing has contributed a total of 5 Olympic medals, not counting the medal harvest in the current Tokyo Olympics.

Before the war, amateur boxing had its heyday. Prominent pugilists included the fearsome Padilla brothers—Carlos, fondly called “Leleng”, and Jose, better known as “Pempe”.

They belonged to the famous family of actors and politicians. Their father, Jose Padilla Sr. was a former governor of Bulacan. Another sibling, Roy Padilla Sr., father of Robin Padilla, served as Governor and Representative of Camarines Norte. Leleng fought in the welterweight division where he sowed fear among the fighters in the said weight class. He is the father of Carlos “Sonny” Padilla Jr., an actor who became a famous international boxing referee. Sonny officiated many world championship bouts. He is now better known as the father of Zsa Zsa Padilla. Leleng and Pempe represented the Philippines in the 1932 Olympics. The Padilla brothers were not only outstanding boxers but were considered as the most handsome fighters in the ring. When they fought, roses adorned the sides of the ring and beautiful ladies sat at the ringside. It was also in Japan where the Padilla brothers made their names in amateur boxing. Their ring exploits in the Far Eastern Games hosted by Japan in the 1930s instilled fear in their foreign opponents, which brought pride and joy to their countrymen back home. Pempe made mincemeat of the Japanese featherweight champion and he became the featherweight champion of the Orient at age 19. At the Los Angeles Olympics in 1932, he failed to win a medal unlike his teammate, Jose Villanueva, who brought home a bronze medal. In the same year, Pempe fought in Japan and defeated the Japanese lightweight

Villanueva. . . continued from A10

not been the proximate cause of, the losses incurred by the clients of R&L.” Stock analysts believe that, while both stockbrokerage houses’ respective control systems failed to prevent fraud and protect their clients’ interest, the penalties levied on the two firms are harsh.

champion. He eventually became the amateur lightweight champion of the Orient while a top movie star.

In his action flicks, knocking out the villains was not choreographed.

Pempe again joined the 1936 Berlin Olympics, but he lost in the quarterfinals and failed to medal. However, his movie, “Multo sa Libingan,” was a box-office hit in the Philippines. The brothers Leleng and Pempe Padilla were the original and real “pretty boys” in boxing. Floyd “Pretty Boy” Mayweather Jr. is just a pretender.

Before the war, Jose Villanueva won a bronze medal in boxing at the 1932 Los Angeles Olympics. His medal-winning feat was replicated 32 years later when his son, Anthony, won a silver medal in 1964 Tokyo Olympics. Another pair of brothers won Olympic medals in boxing, Roel Velasco who won bronze at the 1992 Barcelona Olympics and Mansueto “Onyok” Velasco who captured the silver medal at the 1996 Atlanta Olympics. Winning Olympics medals is in their DNA. Another popular amateur pug that became a matinee idol was the late Senator and Ambassador Rogelio de la Rosa. While a student of Far Eastern University where he completed his Liberal Arts degree, de la Rosa, an all around athlete who excelled in many sports, became the intercollegiate welterweight boxing champion in 1932. This was the time when the Padilla brothers dominated amateur boxing. It was inevitable that Leleng Padilla and de la Rosa, both welterweights, would mix it up in the ring. The fight was an epic battle, which glamorized the ugly world of boxing. Both fighters had solid aficionados who followed their amateur careers. Stories have it that it was the only boxing match where more ladies watched the fight than men. Leleng Padilla, an Olympian boxer, had beaten de la Rosa black-and-blue resulting in the latter’s hospitalization for several days. The handsome ring gladiators brought life and excitement to amateur boxing. They brought the multitudes to the boxing arenas where the poor and the elites mixed, where adoring ladies swooned, roared and screamed with the unruly spectators goading their favorite fighters to dish out their best. The pre-war years were the first golden era of boxing.

Another pre-war famous personality who also dabbled in boxing is the late charismatic Mayor of Manila, Arsenio H. Lacson. In his youth and as a student in Ateneo, Arsenic was a superb athlete who loved basketball and football. He was the team captain of the Ateneo football team and he even represented the Philippines in the Far Eastern Games playing football before the war. Even as a law student at the UST, his passion for the game continued. But he remained a boxing disciple all his life. How do you think Lacson got his dented and broken nose? But that’s another story.

To some, however, the penalties were not only harsh, but also cruel, because R&L had to make huge financial amends by selling real estate and other personal assets to cover the stolen shares of its clients. Worse, the scandal proved too much for Lucy Lee to bear. She died, her family said, heartbroken from the stress of witnessing how the scandal caused the collapse of their 50-year-old family business that was founded by Lee

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he clouds were few and the view of the city from above was clear. It was the right kind of weather. On August 6, 1945, at 8:15 in the morning, the bomb was dropped and Hiroshima, the target, became the first A-bombed city in the world. After three days, the next atomic bomb was detonated above Nagasaki.

Of the two cities, I would get to know more Hiroshima.

It was in February, when I arrived in Hiroshima in the late ’70s. All of nineteen years of age, I was an avid student of war doing my student exchange program in Tokyo when I saw a letter from Dr. Tomin Harada.

It was in August and the good doctor was again writing his letter to remind everyone in Japan the events that took place in 1945.

Dr. Harada was a Japanese surgeon who was one of the pioneers in the treatment of diseases and other afflictions caused by radioactive exposure. In the ’50s, he had this project of bringing the plight of the hibakusha (lit. a person affected by the heat of the radiation) into popular consciousness. At one time, he took with him the so-called “Hiroshima Maidens,” victims of radiation, for treatment to the United States.

It was my simple letter to Dr. Harada whose address appeared on the Japan Times and his quick response that brought me to Hiroshima in the depth of winter. For several months, I worked as volunteer at the World Friendship Center, which was in an old Japanese home. For my board and lodging, I had to clean the Japanese garden regularly. I got more in return: free entrance to the Hiroshima Peace Memorial Museum and entry to the Atomic Bomb Survivors Hospital where the victims of residual radiation continued to suffer and, who would eventually die.

In that hospital, I first saw the huge glass jar filled with paper cranes. The senbazuru or thousand origami cranes, while part of the Japanese folk belief, became part of the story of Sadako Sasaki. She was a young girl who developed leukemia, part of the succeeding generations of nuclear bomb victims. Believing in the legend of the thousand cranes, she began making paper cranes with the hope that when she completed them, she would be healed.

Sadako died in 1955. From her death sprung other legends. One was about her inability to complete the making of a thousand cranes because she had become weak to even fold a paper. This prompted her friends and classmates to make more paper cranes. The other story was that she completed the one thousand origami forms of the crane but realizing how she remained sick, she went on to create more.

It was a sad winter; my youth, perhaps, allowed me to survive the chill of that season and the stories told around diseases and dying.

Nagasaki would be in my consciousness much later.

In November 24, 2008, I travelled to Nagasaki from Tokyo, courtesy of my Japanese brother-in-law who converted to Christianity and became a passionate student of Christian history in Japan. We were to attend the beatification of 188 martyrs. They came from different parts of Japan.

Endgame rally

While I was excited to be part of this singular event, I was also a bit apprehensive knowing that, for the first time, I would demonstrate my faith in a culture that generally was secular. Arriving in Nagasaki, it was heartwarming to see streamers and signs welcoming “Christians” to the city. With an ID provided by the Tokyo office for us, things became even more moving: the notices in bus and trains announced free transportation for all Christians there in the city to attend the beatification.

For the students of history, recall the story of Kakure Kirishitan, or the “hidden Christians,” who kept to themselves and said their Masses in silence for hundreds of years till the ban on Christianity was lifted in Meiji period, in 1873. Most of them came from the areas around Nagasaki.

Unforgettable at the end of the beatification ceremonies were the unfolding of a painting showing all the 188 martyrs, the release of the doves and the pealing of the famous “Bells of Nagasaki.”

The bells came from the Urakami Cathedral, which was destroyed when the second bomb exploded a thousand feet above it. Built by the “hidden Christians,” the church became a symbol of the unwavering faith of believers in Japan.

Takashi Nagai, a Japanese physi-

cian and diarist would write in 1949 a book called, The Bells of Nagasaki.

When the book came out during the American occupation, there was a move to ban it. A solution was to have an Appendix containing information on the atrocities committed by the Japanese in the Philippines.

It was on our last day in Nagasaki, when the rains gave way to a crisp autumn air, that we visited the Atomic Bomb Museum and the Peace Park in the city.

We were at the so-called ground zero. Around us were various monuments coming from different countries. The most monumental of these statues is the ten-meter tall homage to Peace, depicted by a man his right hand pointed to the sky to remind us of the horror of nuclear arms and the left spread horizontally, calling everyone to be calm.

There were the smaller statues.

One was that of a little boy holding a dove above his head. It bore the title, “That Summer.” Then there was this figure of a woman, her face quiet yet strong in the ending of that day. She carried a child whose left hand dangled lifelessly, while below trailed her gown, its creases were silent streams bearing flowers of perfection in a seemingly endless procession to eternity.

outpaces debt growth, then the economy can eventually recover and repay its debt.

Austerity measures to reduce the debt pile (i.e., higher taxes and lower government spending) might only worsen the economic slump.

So, where should the stimulus money go? Indeed, there is a need to invest more in testing, tracing, treatment, and vaccination, so that business and consumer confidence can be restored. There is also a need to channel investments to economic activities that create the most benefits for the domestic economy through the widest network of linkages. Agriculture might be a good investment destination due to three factors: 1) its proven resilience during the pandemic-induced recession, 2) its prevalence in the safest geographical areas for economic resumption, and 3) its strong interlinkages with the rest of the economy.

It might also be good to channel investments to the digital economy, which has been fostered by the “new-normal” way of doing things, such as retail sales, meetings, events, education, entertainment, payments, and more. An upgraded logistics system with much wider reach will be crucial. Last-mile logistics could also provide wide employment opportunities, even in the countryside.

In sum, having a solid gameplan for an endgame rally is one thing, while executing it is another. Still, with the clock winding down, Filipinos should shout, “Never say die!”

Nestor Espenilla Jr., told me when I asked him why the revocation of the banks licenses embroiled in the scandals was not an option: “You don’t destroy the burning house to diffuse the fire. If you do that, you’d bring the whole house down along with all the valuables that could still be saved.”

Similarly, with just a year to go, the current administration is in the “last two minutes” of its ballgame, where a reversal of fortunes is evident due to the second-half onslaught of Covid-19.

In the first half, the Philippines proudly sailed ahead in Southeast Asia, with annual GDP growth rates of 6.9 percent in 2017, 6.3 percent in 2018, and 6.1 percent in 2019. However, in 2020, which was the start of the second half, economic activity contracted by 9.6 percent—the deepest dive among Southeast Asian economies. Commentators exclaim, “Tinambakan na tayo!” (“Points have already piled up against us!”)

Indeed, travel restrictions and prolonged lockdowns have taken a massive toll on businesses, jobs, and incomes.

The government, understandably, resorted to these measures to preserve the most precious productive asset of the economy: Filipinos themselves. Af-

ter all, economists would say, “Walang ekonomiya kung walang tao.” (“There is no economy if there are no people.”)

So, what should be done to spark an endgame rally that will, hopefully, bring the economy back on its feet? Economic managers clearly spell out a three-point gameplan: 1) rolling out vaccines more efficiently, 2) easing restrictions more carefully, and 3) employing a recovery package more effectively. It might be helpful to expound on each point.

On the first point, vaccination will be crucial in restoring both business and consumer confidence, which have sharply declined from where they were three years ago. In fact, according to Moody’s Analytics, the Philippine Business Confidence Index has decreased from +39.33 in Q2-2018 to +1.40 in Q2-2021, while the Philippine Consumer Confidence Index has decreased from +3.82 in Q22018 to -30.86 in Q2-2021.

Unlike previous crises in recent history, which were financial in nature and hampered mostly the supply side, the current crisis affects not only the supply side but also—and, perhaps, even more adversely—the demand side.

Lockdowns have forced many businesses to close down and consumers to limit spending. Of course, when businesses fold, people lose jobs and incomes, so aggregate spending on output decreases. Lower aggregate spending results in more business closures, which lead to more job and income losses, which, in turn, lead to even lower aggregate spending. This vicious cycle can be reversed if confidence is restored through a more efficient vaccine rollout.

On the second point, the easing of restrictions can be done in parallel with vaccination. By now, the dire economic consequences of a shotgun approach to disease outbreak management should be clear to everyone. This time, the country needs to use a more careful, surgical approach in identifying geographical areas and economic sectors where restrictions can be relaxed. Also, as sharply noted by McKinsey & Company, effective, credible, and consistent communication about health interventions by leaders will help both public and private sectors plan accordingly.

On the third point, there is a compelling need to maximize the efficacy of government spending to jump-start economic recovery. In theory, although debt has grown from P6.09 trillion in 2016 to P9.79 trillion in 2020, if the gathered resources are channeled wisely such that the induced income growth

patriarch Rene Lee who died in December 2017.

Venture now fights to clear its name, asserting that it too was a victim of the scam. The company, however, is enjoying some reprieve.

It could still trade in the market, while its appeal before the SEC is being heard. Among its arguments is having no knowledge of and participation in the fraud, which it alleged was committed exclusively within

R&L. It claimed that the penalties and fines were “disproportionate and not commensurate to the infractions and lapses committed, if any, by Venture.” Venture added that the SHP ignored the Consolidated Scale of Fines as indicated in SEC Memorandum Circular 6, Series of 2005, under which the highest penalty is P100,000 and reprimand/warning for each of the cited violations.

In the past, the banking sector has also been rocked by financial frauds.

The Bangko Sentral ng Pilipinas and the SEC may differ in the appreciation and manner of implementing penalty rules in addressing frauds. In the banking-sector scandals, no banks’ licenses were revoked, and only the personalities involved were made to account for their devious deeds.

I vividly remember what my friend, the late former BSP governor

Dr. Ser Percival K. Peña-Reyes

EAGLE WATCH

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ast two minutes!”

These are familiar words to Filipino basketball fans who grew up in the 1980s. In a trademark deadpan tone, the coliseum barker would announce the final stretch of the ballgame, and the opposing teams would passionately slug it out for the win—both figuratively and literally.

E-mail: titovaliente@yahoo.com

Dr. Ser Percival K. Peña-Reyes is the Associate Director of the Ateneo Center for Economic Research and Development.

For comments, suggestions, e-mail me at mvala.v@gmail.com

Sports BusinessMirror

A12

| Friday, August 6, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

CARLO PAALAM of Philippines (right) throws a solid right straight to Ryomei Tanaka of Japan during their men’s flyweight semifinal boxing bout at the 2020 Summer Olympics on Thursday at the Kokugikan Arena in Tokyo, Japan. AP

PAALAM FIGHTS FOR GOLD

By Jun Lomibao

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OKYO—Carlo Paalam put on a dominant performance in a men’s featherweight semifinal clash against Japan’s Ryomei Tanaka on Thursday to prime himself up for the country’s second gold medal in the Tokyo Olympics that looks bound to survive the Covid-19 pandemic in three days.

Paalam mauled Tanaka for an emphatic unanimous decision victory at the Kokugikan Arena where he returns to fight for the gold medal on Saturday against Great Britain’s Galal Yafai.

Using speed, strength and ring smarts, Paalam turned Tanaka’s head into a target, continuously landing 1-2 combinations and darting away from trouble to fashion out an imposing 5-0 victory, his fourth impressive win in the Olympics.

“We used speed, that’s the

strategy. I made sure I fought my style, my game,” Paalam said. “On the ring, you have to evaluate every move and trust each one of them.”

The 23-year-old Cagayan de Oro pride made the Japanese look overmatched to the delight of Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino and his secretary general, Atty. Ed Gastanes, who wildly cheered from the Olympic Family VIP box at ringside.

Paalam was the smarter boxer throughout, nailing the Japanese— as his coaches Elmer Pamisa and Don Abnett instructed him to do— with 1-2 solid combinations before sliding out of trouble.

The Japanese was stunned several times as he absorbed Paalam’s left straights that appeared to have come from nowhere.

Already desperate to turn things around even in the second round, Tanaka hit Paalam on the back of

the head, dazing him.

“He his me at the back of the head in the second round and it hurt me,” he said. “I was dazed and I lost air.”

“I went down low on him to recover, and I held on to his legs to catch my breath,” he said. “The referee may have not seen the illegal strike because of the swift exchanges.”

Tanaka was humble in defeat.

“I played the best match ever so I didn’t regret anything,” Tanaka said through an interpreter. “I don’t feel that I lost because my opponent was very good—sI just lost to myself.”

With Paalam in the finals, Team Philippines could aim for a second gold medal after Hidilyn Diaz’s dominant performance in women’s -55 kgs of weightlifting.

The Philippines will also mark the Tokyo Games with a bountiful haul of four medals—including Nesthy Petecio’s women’s featherweight mint and Eumir Felix Marcial’s bronze,

You can’t win ’em all: Marcial exits in semis

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OKYO—Eumir Felix Marcial’s golden dream at the Tokyo Olympics ended with a bronze medal following his loss to Ukraine’s Oleksandr Khyzhniak—

an opponent he admitted to be more superior.

Khyzhniak rallied with the skills of a world and European champion in the third round to escape with

EUMIR FELIX MARCIAL of the Philippines (left) lands a shot against Oleksandr Khyzhniak of Ukraine in their men’s middleweight semifinal boxing war on Thursday at the 2020 Summer Olympic Games at the Kokugikan Arena in Tokyo, Japan. AP

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OKYO—Irish Magno isn’t coming home yet.

The country’s bet in women’s flyweight of boxing exited from the Tokyo Olympics, but asked to stay behind to cheer for her teammates—first for silver medalist Nesthy Petecio and on Thursday, Eumir Felix Marcial and Carlo Paalam.

On Thursday morning, Magno got the surprise of her first Olympic campaign when Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino announced that all non-medalists in Tokyo will each receive P.5 million as incentive for their effort

a 3-2 victory and spoil what could have been a double-victory for the Philippine boxing team which aimed to send two fighters in the finals.

“He’s a strong fighter and he deserves to win,” said Marcial of Khyzhniak, who won gold medals at the world (2017) and European (2017 and 2019) championships and looked prime to win gold in these pandemic Olympics.

Marcial fought the illustrious Ukrainian punch-for-punch to get the nod of the five judges in the first two rounds. But Khyzhniak couldn’t be denied and rallied in the fourth round to escape with the close victory.

Marcial’s bronze is the Philippines’s second medal in boxing after Nesthy Petecio’s silver in women’s featherweight and third overall for the country in Tokyo after Hidilyn Diaz’s historic gold

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medal in women’s weightlifting.

Carlo Paalam, meanwhile, assured the country of a men’s featherweight silver following his victory also on Thursday over Ryomei Tanaka of host Japan. He fights Britain’s Galai Yafai in Saturday’s final.

The national boxing team’s Australian consultant, Don Abnett, also admitted Marcial lost steam against the seasoned Ukrainian slugger.

“He [Marcial] only had six weeks training with us, although his Colorado [Springs] training helped him a lot,” Abnett said.

Marcial turned pro in September last year and trained for four months under world renowned trainer Freddie Roach at the Wild Card Gym. He won his first professional fight, a four rounder, in December, but hasn’t fought a single bout until last May’s Asian championships in Dubai.

He exited the Dubai tournament in his first fight and agreed to join a training camp with the US boxing team in Colorado Springs.

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IDILYN DIAZ received her P3 million check on Thursday from Deputy Speaker Mikee Romero (1-Pacman Partylist) as her financial reward for winning the country’s first Olympic gold medal in Tokyo.

Romero personally handed the check to Diaz eight days since the proud daughter of Zamboanga City arrived from Tokyo.

“I personally delivered the pro- mise I made last month because the joy and pride Hidilyn gave to our country was immeasurable,” Romero said. “I hope this will inspire other athletes to work harder to reach their dreams.”

The simple hand over ceremony was held at the Sofitel Hotel where Diaz and other members of her team stayed for a seven-day quarantine.

“We are really proud of you, Hidilyn. You embody the traits of a great warrior...hoping we win gold at every Olympics,” Romero added.

“I believe the Filipino athlete can do it!” Diaz said.

Romero said that the day Diaz carried the entire nation on her broad shoulders to great heights should be celebrated annually start-

and dedication as athletes.

“The non-medalists in the Tokyo Olympics will receive incentives of P500,000 each,” said Tolentino as the Philippine medal campaign boiled down to Marcial and Paalam and golfers Bianca Pagdanganan and Yuka Saso on Thursday morning.

Tolentino said that the POC—through the MVP Sports Foundation of business tycoon Manuel V. Pangilinan—will reward the non-medalists on Team

Philippines.

They are rowing’s Cris Nievarez, taekwondo’s Kurt Barbosa, skateboarding’s Margielyn Didal, shooting’s Jayson Valdez, gymnastics’ Carlos Yulo, boxing’s Irish Magno, judo’s Kiyomi Watanabe, weightlifting’s Elreen Ando, golf’s Juvic Pagunsan, athletics’ EJ Obiena (pole vault), and Kristina Knott (200m) and swimming’s Remedy Rule and Luke Gebbie.

“Everyone on Team Philippines

winds down in Tokyo where a 19-athlete delegation assured the country’s first four-medal haul in 97 years of Olympic participation.

Guiao, then a congressman representing the First District of Pampanga, petitioned the Supreme Court in 2016 seeking to require both Pagcor and the Philippine Charity Sweepstakes Office (PCSO) to remit their proper contributions to the PSC. Republic Act 6847, the law that created the PSC, mandates the

Pagcor to remit 5 percent of its gross income to the government sports agency, while PCSO is supposed to remit 30 percent of earnings from six sweepstakes or lottery draws per annum.

But beginning 1993, Pagcor has unilaterally brought down its contribution to just 2.1375 percent of its gross income, on the strength of an Executive order from the Office of the President handed down during the time of Fidel V. Ramos. Jun Lomibao

in these ‘Golden Olympics’ deserve all the praises, and in this case, incentives, they need,” Tolentino said. “Qualifying for the Olympics is already that difficult, what more competing in the Games themselves.

Hidilyn Diaz won the country’s first Olympic gold medal in women’s weightlifting, while Petecio clinched a silver in women’s boxing.

Marcial and Paalam are guaranteed of a bronze medal each for reaching the semifinals

ing next year.

“What Hidilyn did was extra ordinary. I can still feel the magnitude of her victory,” said Romero, who was accompanied in the ceremony by AirAsia executive Eric Arejola.

Not only did Diaz end the country’s 97 long years of agony and misfortunes on July 26, she also almost sent her touted Chinese rival to tears as she won the –55 kgs gold in record fashion.

Diaz lifted an Olympic record 127 kgs in the clean and jerk, her pet event, on the third and final attempt.

“That made her victory sweeter and memorable because it was an Olympic record,” added Romero who was part of the national delegation to the London 2012 Games, Diaz’s second Olympic appearance.

A silver medal winner in Rio de Janeiro five years ago, Diaz thanked Romero for being a genuine sports patron, saying his generosity will greatly help Filipino athletes in so many ways.

Romero pledged P3 million for a gold, P2 million for a silver and P1 million for a bronze in the Tokyo Olympics.

HIDILYN DIAZ (second from right) receives a replica of a P3 million check from Deputy Speaker Mikee Romero (second from right). Also in photo are Diaz’s strength and conditioning coach Julius Naranjo, AirAsia executive Erick Arejola and weightlifting president Monico Puentevella.

Bianca, Yuka out of contention “I gave my all to win, but that’s the decision,” Marcial told an American journalist. “I know God has plans for me…for me, this bronze is gold.”

Marcial engaged Khyzhniak in a flurry of exchange in the first round, his right cross and uppercut occasionally hitting their targets to narrowly win the opener.

The second round turned out almost exactly like the first with Marcial sneaking in 1-2 combinations to the Ukrainian’s face—at times unleashing three to four rapid punches to Khyzhniak’s stomach.

But Khyzhniak, who ahead of Tokyo has won all his 60 fights since 2016, brought all the experience, boxing wit and punching power to the Kokugikan Arena to dominate the third round and escape with the victory.

In the end, Marcial said he needed to learn from the loss.

“I lost steam, and I know I need something more to win in the Olympics,” he said.” Jun Lomibao

POC, MVPSF to reward P.5M each to non-medalists in Tokyo Games

Guiao calls on Pagcor ‘to restore 5% share to sports commission OKYO—Former Pampanga congressman Joseller “Yeng” Guiao called on government to restore the Philippine Sports Commission’s (PSC) full share from the earnings of the Philippine Amusement and Gaming Corp.

(Pagcor) “to sustain the gains made by national athletes in the country’s best Olympic finish in history.”

Guiao, a many-time men’s national basketball team coach, made the call as the Philippine campaign

both in boxing.

Marcial climbed the ring half an hour after Paalam fought and took a close split decision loss to Oleksandr Khyzhniak of Ukraine to settle for the bronze medal.

Yafai edged Paalam’s 2020 Asia and Oceania Boxing Olympic Qualification Tournament tormentor Saken Bibossinov of Kazakhstan in a close 3-2 split decision win in the other flyweight semifinal.

Paalam knew the weight he has to carry as he bids for the gold medal this weekend.

“I ask everyone to please pray for me as I do my best in the final,” said Paalam, as he thanked Cagayan de Oro City Mayor Oscar Moreno, one of his biggest supporters.

“I don’t hold the key to whatever the decision would be on Saturday, because I know all of my opponents here trained hard for the Olympics,” he said. “But I hope God gives me the confidence and trust to succeed.”

Diaz receives P3-M Olympic cash incentive from Romero

of the middleweight and flyweight divisions, respectively.

“I would like to profusely thank the POC and MVPSF for supporting us athletes from our training up to the time that we competed,” Magno said. “And even though we are no longer competing, the POC and MVPSF still continue to support us.”

Magno added: “This incentive will inspire us to strive further as we wait for out time to shine in our sport.” Jun Lomibao

PAGDANGANAN

SASO

T

OKYO—Bianca Pagdanganan carded an even-par 71 on another scorching summer day that saw American Nelly Korda taking over the reins after the second round of the women’s golf competition at the Tokyo Olympics on Thursday.

Pagdanganan started at twounder but dropped from joint fifth at the start of the day to a tie for 27th as the top contenders got their rhythm going at the Kasumigaseki Country Club.

From three down, the 23-yearold Pagdanganan fell 11 shots behind new leader Korda, who assembled a tournament-best nineunder 62 for a four-shot lead on a 36-hole total of 129. She had a 67 in the first round.

Yuka Saso, on the other hand, made three birdies in her final five holes to score a three-under 68 and get back to even-par 142.

Saso and Pagdanganan need a major rally in the final two rounds to have any hope of bringing home a medal from their Olympic debut.

Nanna Koerstz Madsen of Denmark (64), Aditi Ashok of India (66), and Emily Pedersen of Denmark (63) tied for second place at nine-under while overnight leader Madelene Swagstrom of Sweden was alone at 8-under after a 68.

Pagdanganan and Saso’s hopes for a comeback are under threat from an approaching typhoon that could force organizers to cut the tournament to 54 holes.

An abbreviated tournament will all but dash the hopes of the two Filipinos in the 60-man field, who will need the two rounds to storm back into contention. A decision is expected to be made on Saturday.

Jun Lomibao

PHILIPPINE Olympic Committee President Rep. Abraham “Bambol” Tolentino presents a plaque of appreciation to Yoshihito Okinaga, President and CEO of Teikyo University where gymnast Carlos Yulo (left) has trained all these years. At right is Gymnastics Association of the Philippines President Cynthia Carrion Norton.

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ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

24 INCH GAUGE CONSTRUCTION INC. L4 Blk. 4 Near Kay Buboy Bridge San Dionisio Parañaque City

NGUYEN VAN PHONG Marketing Specialist 1.

Brief Job Description: Responsible for coordinating with other marketing and sales professionals to implement innovative campaigns for branding or product launches

PHAM THI ANH Seller Support Associate Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive environment; Should have a bachelor’s degree in journalism, marketing, communications or a related field; Good communication and interpersonal skills Salary Range: Php 30,000 - Php 59,999

24/7 BUSINESS PROCESSING INC. 5th-6th-7th Flr. 81 Newport Bl Newport City Brgy. 183 Pasay City

2.

PHO MAN NAM Customer Service Representative (chinese Accounts) Brief Job Description: Assists clients will all their concerns.

Basic Qualification: Any nationality who can speak and write Chinese fluently. Preferably 6 months to 1 year customer service experience. Detailoriented and has the ability to multi-task.

11.

66 A-IDEA CONSULTING INC. Rm. 404 Caeg Building Dela Rosa St. Pio Del Pilar Makati City

3.

Brief Job Description: Handling inbound and outbound service support calls

12.

HAN, ZHIPING Chinese Customer Service 13.

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

4.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status HOANG THI NGUYET Mandarin Customer Service Representative

5.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status NGUYEN THI QUYNH Mandarin Customer Service Representative

6.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status

Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999

15.

MOULY, FLORENT CEDRIC GUILLAUME Area Manager 7.

Brief Job Description: Confirm design detailing and construction strategies in coordination with the design team and temporary works technical office. Tender award and management of major subcontracts and procurement packages. Establish project procedures, quality and safety plans.

16.

ROS LLERA, CARLOS BENITO Area Manager 8.

Brief Job Description: Setting up and managing document and cost control systems and preparing progress reports and projected costs to complete.

LUNA CID, ALVARO Precast Superintendent 9.

Brief Job Description: Management of the production, storage, delivery of prefabricated plant; Responsible for project resources needed to produce the project.

17.

SEGHI, SIMONE Senior Site Coordinator

10.

Brief Job Description: Schedule the project in logical steps and budget time required to meet deadlines in accordance with the overall project. Ensure effective management of assigned area through timely, strategic solution where appropriate with the appointed authority limits. Ensure cost effective construction systems and processes.

Brief Job Description: To supervise all activities related to Import Procurement

TABIB, YEHIEL Disbursement Manager 18.

No.

Basic Qualification: Clear and effective oral and written communication in both Vietnamese and English fluently where required.

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

23.

CHEN, SIYING Chinese Speaking Business Development Associate 24.

Brief Job Description: Provide resolution of any delivery issues and support for response to compliance examinations; A direct liaison to the grants team; the manager is actively engaged in cross functional working groups and ensures effective communication flow.

WANG, HU Mandarin Customer Relations Officer 19.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services.

JAR SAI Myanmari Customer Relations Officer 20.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services.

TRAN VAN DONG Vietnamese Customer Service 21.

Brief Job Description: Offer full range of customer service to employer and clients.

22.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

25.

Brief Job Description: Assist/Help customers, Give customers information about product and services.

ZHENG, BINGJIA Chinese Speaking Business Development Associate 26.

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

Brief Job Description: Assist/Help customers, Give customers information about product and services.

ZHONG, ZHENG Chinese Speaking Business Development Associate 27.

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

Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience.

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

Brief Job Description: Assist/Help customers, Give customers information about product and services.

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

GENX SPORTS & MEDIA PRODUCTION CORP. 26th And 27th Flr. Eastwood Cyber One Bldg. Eastwood City Cyberpark No. 188 E. Rodriguez Jr. Ave. Bagumbayan 3 Quezon City Basic Qualification: With solid experience in international trading and importation of chemical raw materials.

DU, TANGRONG Customer Service Representative - Chinese Speaking 28.

Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Bachelor’s degree in Accounting or Finance; With 7 years of relevant experience, including 2 years supervisory experience to include OFAC compliance; WUBS Global pay and WU Edge platforms preferred.

Basic Qualification: Has excellent problem-solving and communication skills in MANDARIN, with related BPO experience

HUANG, YIHUAI Philippine Laguna Lake Solar Inverter Solution Manager 29.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read write and type fluently in VIETNAMESE language.

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

Brief Job Description: Optimize the solar plant design and seek the best levelized cost, be responsible for new products and energy storage products value transfer, and cooperate with local channel partners to expand the residential energy storage market.

Basic Qualification: With CCIA and Huawei routing & switching HCIP certification, highly skilled in using photovoltaique (PVSYST) software for solar system yield simulation, with bachelor’s degree in solar energy engineering and fluent in English and Chinese Salary Range: Php 90,000 - Php 149,999

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor Eight West Campus Mckinley West Fort Bonifacio Taguig City

GUAN, XINLEI Mandarin Customer Support Representative 30.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has excellent problem-solving and communication skills in BURMESE, with related BPO experience

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs

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

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City

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

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

HE, PEIYAO Mandarin Customer Support Representative 31.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience.

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

Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience.

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

JS BOUTIQUE FASHION INC. Unit No. Ih-4 G/f, Two Shopping Center Bldg. Taft Ave. Ext. St., Zone 10 Barangay 078, District 1 Pasay City

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

CROWN INFORMATION TECHNOLOGY INC. 5th-7th Floor Alhi Corporate Center Aseana Avenue Tambo Parañaque City

WENG, SHIYU Mandarin Customer Support Representative

Brief Job Description: Assist/Help customers, Give customers information about product and services.

CHEN, XUBO Chinese Speaking Business Development Associate

Basic Qualification: Able to Speak, Read, and Write Chinese language

Basic Qualification: Able to Speak, Read, and Write Chinese language

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

QUALIFICATION AND SALARY RANGE

EAST CATALYST TRADING CORPORATION 3/f Salcedo One Center 170 Salcedo St. San Lorenzo Makati City

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 YANG, HONG Mandarin Customer Support Representative

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

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City

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

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex Harbour Drive Cor. Bay Shore Brgy. 076 Pasay City

Basic Qualification: Clear and effective oral and written communication in both Vietnamese and English fluently where required.

BEST RELIABLE RESOURCES CORP. Ub 111 Paseo De Roxas Bldg. Paseo De Roxas San Lorenzo Makati City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Engineer or construction management professional with at least 5 years experience. Experience in cable bridge projects.

Relevant experience with joint venture, international experience is an advantage. Fluency in English and/or high level of Spanish is required.

Brief Job Description: Managing incoming calls and customer service inquiries

YOSHIKAWA, TAKESHI Vice President, Import Procurement

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 5+ years experience in supervising the production of precast plant preferably bridge elements. Average level of English

QUALIFICATION AND SALARY RANGE

ATLAS FERTILIZER CORPORATION 2/f Builders Centre 170 Salcedo St. San Lorenzo Makati City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree qualified, Engineer or construction management with at least 10 years experience working in the industry.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN DINH QUANG Chinese Customer Service

ACCIONA CONSTRUCTION PHILIPPINES INC. 21/f Tower 2, The Enterprise Center 6766 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City Basic Qualification: Graduate of Civil Engineering, Business Management, Commerce or other related course. At least 4-6 years of working experience in the related field. Experienced in cross-functional projects and initiatives as well as people management.

Brief Job Description: Managing incoming calls and customer service inquiries SWE SHO JAUNG Chinese Customer Service

Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquiries LEI, CHAO Chinese Customer Service

8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City CUI, MINGYU Mandarin Customer Service Representative

Brief Job Description: Provides direct support to Amazon sellers, as part of their registration and onboarding process onto the Amazon store

ESTABLISHMENT / ADDRESS

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City

14.

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

Brief Job Description: Provides direct support to Amazon sellers, as part of their registration and onboarding process onto the Amazon store

TRUONG CHI BAO NGOC Seller Support Associate

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

WONG WINNIE Chinese Customer Officer

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience.

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

BHUIYAN, MD SALAH UDDIN Inventory Specialist 32.

Brief Job Description: An inventory specialist maintains records of all, store inventory of all product/item in the shop.

Basic Qualification: They must frequently engage in the digital and physical counting of product or item.

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

LAN TIAN ZI XUN INC. Unit 205 2/f Zen Tower 1111 Natividad Almeda Lopez St., 071 Bgy. 659 Ermita Manila

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ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LIU, QIN Chinese It Specialist

33.

ESTABLISHMENT / ADDRESS

Brief Job Description: This position requires the exercise of discretion in the application of the principles, practices and techniques related to planning and analysis; design; development and implementation; maintenance; support; and management of information technology functions.

QUALIFICATION AND SALARY RANGE

Basic Qualification: Fluent in Chinese language (writing and speaking)

No.

47.

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

GITA VALENTINA Marketing Customer Support Specialist- Bahasa Indonesian

48.

34.

Brief Job Description: FX trading, FX Voice Sales and other Client Services to foreign clients to develop class solutions and to meet client needs

Basic Qualification: Bilingual (Bahasa and English), marketing and sales strategies

ANTHONETA RESIANA HORMAN I2p Associate 35.

Brief Job Description: Handles day to day processing of AP transactions in accordance with the service level agreement.

Basic Qualification: Degree holder in accounting, business administration or other business-related field with 2 to 3 years of experience in full-cycle AP or accounting knowledge.

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

ALFEREZ MORENO, JHONATAN ANDRE Travel And Expense Analyst-Spanish 36.

Brief Job Description: The role supports the day to day activities of all T & E expense and travel tool functions, travel reimbursement, expense reporting, receipt audit, corporate card and PCard troubleshooting and policy adherence.

49.

50.

37.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business

FENG, YUAN Mandarin Speaking Marketing Specialist 38.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business

LYU, YONGJIE Mandarin Speaking Marketing Specialist 39.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business

XIE, AIYAN Mandarin Speaking Marketing Specialist 40.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business

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

51.

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

52.

QUIN, CAMERON TREVOR Chief Coordinator 41.

Brief Job Description: Responsible for closely collaborating with executive team members to determine and prioritize business strategies and effectively communicate across the organization.

Basic Qualification: 1. Graduate of any bachelor’s degree course, preferable Business Administration or relevant field 2. Postgraduate degree in Business Administration or relevant field is an advantage 3.

In-depth knowledge of corporate governance and general management best practices 4.

Entrepreneurial mindset with outstanding organizational and leadership skills 5.

Analytical abilities, problem-solving and decision making skills 6.

Excellent communication and public speaking skills Salary Range: Php 150,000 - Php 499,999

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City DAI, JUN Chinese Customer Service 42.

Brief Job Description: Managing incoming calls and customer service inquiries HUANG, JIANHENG Chinese Customer Service

43.

Brief Job Description: Managing incoming calls and customer service inquiries HUO, HONGLIANG Chinese Customer Service

44.

Brief Job Description: Managing incoming calls and customer service inquiries HUO, WENQIANG Chinese Customer Service

45.

Brief Job Description: Managing incoming calls and customer service inquiries JIANG, XIN Chinese Customer Service

46.

Brief Job Description: Managing incoming calls and customer service inquiries

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

53.

54.

55.

Brief Job Description: Managing incoming calls and customer service inquiries LE THI YEN Chinese Customer Specialist

56.

Brief Job Description: Managing incoming calls and customer service inquiries

QUALIFICATION AND SALARY RANGE

BRANDT, THOMAS Customer Support Advisor - German 57.

Brief Job Description: Manage accounts and concerns of clients from the German market

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

58.

Brief Job Description: Optimizing operational processes and procedures for maximum efficiency while maintaining quality standards

63.

64.

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

65.

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

CAI, JIANGHUAI Chinese Customer Service Representative 66.

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

67.

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

68.

59.

Brief Job Description: Assist in the ramp-up planning & necessary preparatory work in the event of resumption of normal site operations.

Basic Qualification: Have at least 10 years experience in the mining industry, covering gold and copper processing Salary Range: Php 500,000 and above

LIN, YEN-AN Mandarin Speaking HR Manager 60.

Brief Job Description: Oversees the implementation of human resources programs through human resources staff.

69.

Basic Qualification: Good oral and written communication skills in mandarin at least 6 months of related experience in this filed.

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

61.

Brief Job Description: Monitor the planning and overseeing new marketing initiatives operations within the company, such as market data on a local, regional or national level, through the use of Mandarin native language, to senior professionals in China, Taiwan and other Mandarin speaking counterpart and clients

WANG, WENSHENG Mandarin Marketing Specialist 62.

Brief Job Description: Monitor the day-to-day marketing operations within the company, such as market data on a local, regional or national level, through the use of Mandarin native language, to senior professionals in China, Taiwan and other Mandarin speaking counterpart and clients

Basic Qualification: Bachelor’s degree in Management, two or more years of Operations experience; The ability to communicate, lead a team and solve problems Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Bachelor’s degree in Management, two or more years of Operations experience; The ability to communicate, lead a team and solve problems Salary Range: Php 60,000 - Php 89,999

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Bachelor’s degree in Management, two or more years of Operations experience; The ability to communicate, lead a team and solve problems Salary Range: Php 60,000 - Php 89,999

Basic Qualification: College graduate, fluent in Mandarin and English, preferably 6 mos to 1 year customer service Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Oversee daily business activities for chemicals and consumer lifestyle business department

Basic Qualification: Obtain higher education (Degree holder) Salary Range: Php 90,000 - Php 149,999

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base.

Basic Qualification: College graduate, fluent in Mandarin and English; Preferably 6 mos to 1 year customer service.

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

LI, MINQIANG Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

Basic Qualification: 200 Vacancy/College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking Salary Range: Php 30,000 - Php 59,999

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City CAI, AIYU Bilingual Finance Support Specialist 70.

Brief Job Description: Process and Prepare Financial Business Forms for the Purpose of Checking SIA JIA HAO Malay-speaking Customer Service Officer

71.

Brief Job Description: Responsible to Resolve queries if the Malaycustomers through email and chats

Basic Qualification: Excellent in Writing Reading and Speaking in Bilingual Languages Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Writing , Reading and Speaking in Malay Salary Range: Php 30,000 - Php 59,999

XUSHENG TECHNOLOGY CORP. Flr. No. 1-5 Bldg. No. 0050 F.b. Harrison St. Cor. Williams And Roberts St. Zone 4, Barangay 013, District 1 Pasay City FENG, XIAOYONG Mandarin Speaking Technical Support 72.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk HE, SHUTING Mandarin Speaking Technical Support

73.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk HUANG, WENMING Mandarin Speaking Technical Support

74.

75.

PH GLOBAL JET EXPRESS INC. 11th Floor, The Marajo Tower 26th Street Cor. 4th Avenue Bgc Fort Bonifacio Taguig City ZHU, CONGYU Mandarin Business Development Manager

OKAMOTO, TAKASHI General Manager For Chemicals And Consumer Lifestyle Business Department

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk JIANG, CHEN Mandarin Speaking Technical Support

OUTWIT, INC. 2/f Marvin Plaza 2153 Chino Roces Ave. Pio Del Pilar Makati City

Basic Qualification: Bachelor’s degree in Management, two or more years of Operations experience; The ability to communicate, lead a team and solve problems

VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. 1439 Adriatico Cor. Sta. Monica St. 072 Bgy. 669 Ermita Manila

OCEANAGOLD (PHILIPPINES), INC. 2/f Cjv Bldg. 108 Aguirre St., Legaspi Village San Lorenzo Makati City

WEBB, GARY BRUCE Process Ramp-up Advisor

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base.

LI, SHAOKUN Chinese Customer Service Representative

Salary Range: Php 90,000 - Php 149,999

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

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

THE PENBROTHERS INTERNATIONAL INC. 6/f Opl Bldg. 100 C. Palanca St. San Lorenzo Makati City

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

Basic Qualification: German language skills (written and spoken), good oral and speaking skills

Basic Qualification: Bachelor’s degree in Management, two or more years of Operations experience; The ability to communicate, lead a team and solve problems

SOJITZ PHILIPPINES CORPORATION 23rd Flr. Nac Tower 32nd Street Fort Bonifacio Taguig City

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

Brief Job Description: Monitor the day-to-day operations within the company, such as market data on a local, regional or national level, through the use of Mandarin native language, to senior professionals in China, Taiwan and other Mandarin speaking counterpart and clients

QUALIFICATION AND SALARY RANGE

RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg. 115-117 Esteban Street San Lorenzo Makati City

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

Brief Job Description: Monitor the day-to-day operations within the company, such as market data on a local, regional or national level, through the use of Mandarin native language, to senior professionals in China, Taiwan and other Mandarin speaking counterpart and clients WU, YAYUN Mandarin Operations Supervisor

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

Brief Job Description: Monitor the day-to-day operations within the company, such as market data on a local, regional or national level, through the use of Mandarin native language, to senior professionals in China, Taiwan and other Mandarin speaking counterpart and clients WANG, ZIDI Mandarin Operations Supervisor

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 LIU, WEI Mandarin Operations Supervisor

Basic Qualification: Able to speak, Read, and Write Chinese language

NEWBAY INTERNATIONAL TECHNOLOGY INC. 2/f Mezzanine Tower 1 The Enterprise Center 6766 Ayala Ave. Cor. Paseo De Roxas Makati City WANG, PENGFEI Mandarin Operation Specialist

No.

Basic Qualification: Able to speak, Read, and Write Chinese language

NCH CUSTOMER SUPPORT SERVICES, INC. 6f, 7f, Tower 3 West Bldg. Double Dragon Plaza, Edsa Ext. Cor. Macapagal St. Brgy. 076 Pasay City

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

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

Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, ZHICHENG Chinese Customer Service

Basic Qualification: Able to speak, Read, and Write Chinese language

Basic Qualification: Able to speak, Read, and Write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, JIAOLONG Chinese Customer Service

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 inquiries WEI, CHENGZHONG Chinese Customer Service

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

MIND YOU MENTAL HEALTH SYSTEMS INC. 3807 38th Floor One Meriedien 27th Street Fort Bonifacio Taguig City

Brief Job Description: Managing incoming calls and customer service inquires WEI, MENGSHENG Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries TANG, SHUAI Chinese Customer Service

MIGHTY-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505- E The Finance Centre 26th St. Fort Bonifacio Taguig City ANGEL NING XIAO XIAN Mandarin Speaking Marketing Specialist

Brief Job Description: Managing incoming calls and customer service inquiries LIN, WEI-CHENG Chinese Customer Service

Basic Qualification: Can communicate fluently in Spanish and English.

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

Brief Job Description: Managing incoming calls and customer service inquiries LI, CAIYI Chinese Customer Service

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

MERCK BUSINESS SOLUTIONS ASIA INC. 36th To 39th Floor, The Finance Centre Condominium 26th Street Corner 9th Avenue Bonifacio Global City Taguig City

Brief Job Description: Managing incoming calls and customer service inquiries JING, RAOXIANG Chinese Customer Service

MEGA TREND FOREX CORPORATION 20/f Zuellig Bldg. Makati Ave. Cor. Paseo De Roxas Urdaneta Makati City

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION JIANG, CAIHONG Chinese Customer Service

Friday, August 6, 2021 A21

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk LI, ZHENGHUI Mandarin Speaking Technical Support

76.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk

Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 *Date Generated: Aug 5, 2021

In the ad material of Notice of Filing of Application for Alien Employment Permits published on July 31, 2021, the name of HARTONO, INDRA under FESTO, INC., should have been read as HARTONO INDRA and not as published.

In the ad material of Notice of Filing of Application for Alien Employment Permits published on August 4, 2021, the position of HUANG, ZHUOFAN under T ONE CHINA CONSTRUCTION THIRD BUREAU CORPORATION, should have been read as CHINESE ASSISTANT PROJECT MANAGER and not as published.

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

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Companies BusinessMirror

Editor: Jennifer A. Ng

SMC posts strong results in H1 despite Covid curbs

C

By VG Cabuag

@villygc

onglomerate San Miguel Corp. (SMC) said its income for the first semester reached P29.57 billion, a turnaround from its P3.98-billion loss last year, as all its major businesses saw improvements.

Consolidated revenues grew 16 percent to P410.1 billion from last year’s P352.79 billion driven by higher sales from Petron Corp., which rose by 14 percent; SMC Global Power Corp. by 5 percent; SMC Infrastructure by 27 percent; and San Miguel Food and Beverage Inc. by 20 percent.

Operating income surged fourfold to P61 billion from last year’s P14.92 billion brought about by improved margins, company-wide cost savings initiatives and improvements in operational efficiencies.

“While there is no doubt that the uncertainties brought about by the pandemic will continue to have an impact on our businesses, our strong performance in the first half reflects the effectiveness of the strategies we’ve put in place and our ability to

quickly adapt to the evolving needs of our consumers,” San Miguel President and COO Ramon S. Ang said in a statement. Ang said the reimposition of a lockdown for two weeks is an opportunity for the company to respond in terms of immediate relief for disadvantaged communities, supply much-needed essential goods and services, and help protect the country’s social and economic gains in the continuing fight against the pandemic.

San Miguel Food and Beverage’s income more than doubled to P17.36 billion in the first semester from last year’s P7.33 billion.

Consolidated revenues reached P146.79 billion, up 20 percent from last year’s P122.81 billion.

Revenues of San Miguel Foods

rose 11 percent to P72.24 billion from the previous P65.18 billion, primarily driven by its protein and animal nutrition businesses, which posted a double-digit volume growth.

Net income grew fourfold to P6.17 billion from the previous year’s P1.33 billion.

San Miguel Brewery Inc. rebounded as consolidated sales volumes improved 15 percent versus last year, with the easing of quarantine restrictions and lifting of liquor bans in its markets. This resulted in consolidated revenues of P54.33 billion for the first half of the year, up 27 percent from the previous P42.79 billion.

Consolidated operating income of the beer business grew 64 percent to reach P12.08 billion from P7.35 billion last year, while net income rose 89 percent to P9.51 billion from P5.02 billion.

Volumes of Ginebra San Miguel Inc. increased 21 percent year-onyear as it continued to introduce marketing campaigns and promotions, expand distribution, and sustain supply chain efficiencies.

As a result, the spirits business generated revenues of P20.23 billion, 36 percent higher than the previous year’s P14.84 billion. Income from operations rose 45 percent to P2.61 billion from P1.8 billion last year. Net

income jumped 66 percent to P 2.09 billion from P1.25 billion.

SMC Global Power recorded firsthalf off-take volumes of 13,552 gigawatthour and consolidated revenues amounting to P60.27 billion, both representing a 5-percent growth over the same period in 2020, driven by higher spot volumes and improved nominations from customers.

Operating income declined 5 percent to P17.2 billion due to higher purchase volumes resulting from gas supply restrictions for the Ilijan power plant and outages in the Sual power plant.

Net income rose 35 percent to P12.2 billion from last year’s P9.06 billion.

SMC Infrastructure generated revenues of P8.45 billion for the period, up 27 percent from last year’s P6.67 billion. Average daily traffic flow in all operating toll roads continue to improve, while volumes also continue to increase for Manila North Harbor and Bulacan Bulk Water. Operating income grew more than double to P2.3 billion from last year’s P951 million.

The Skyway Stage 3 project, which was opened to the public on January 14, started collecting toll fees only last July 12.

PLDT to deploy more FTTH ports

By Lorenz S. Marasigan @lorenzmarasigan

W

ireless will continue to take the lion’s share in the revenue mix of telco titan PLDT Inc., but its management finds it prudent to focus on its home broadband business for the remainder of the year.

Manuel V. Pangilinan, who chairs the integrated telco group, said the company will be speeding up its fiberto-the-home (FTTH) builds this year, as it anticipates the business vertical to have more significant contributions to the company’s top line.

“The suggestion from network is that we accelerate the buildout of the port for FTTH starting the fourth quarter in anticipation of capacity moving ahead of installs,” he said during the press briefing for the company’s first half financial results.

ICTSI net income up 73% in H1

P

ort operator International Container Terminal Services, Inc. (ICTSI) saw its net income attributable to equity holders surging by more than 70 percent in the first half, thanks to higher operating income.

In a regulatory filing, the company said its bottomline reached $197.7 million during the first semester, a 73-percent increase from the $113.4 million it booked last year.

“These results have surpassed 2019 pre-pandemic performance and were driven by favorable market conditions and the prudent actions we took at the onset of the pandemic.

This is evidenced by the strong organic growth across our terminals underpinned by the strength and resilience of ICTSI and our differentiated strategy,” ICTSI Chairman Enrique K. Razon said.

Revenues from port operations grew by 22 percent to $882.6 million from $724.3 million due to volume growth, favorable container mix, and new contracts with shipping lines. Lorenz S. Marasigan

For 2021, the company plans to deploy 1.7 million FTTH ports. As of end-June, the telco was able to deploy 730,000 ports, representing 43 percent of the target. It also intends to lay out 125,000 kilometers of fiber optic cables to support the ports.

Alfredo S. Panlilio, the company’s president, added that total home revenues will continue to be at “50 percent of that of total wireless revenues,” but noted that “wireless will continue to be a huge revenue base” for the company.

The home broadband business during the first semester grew by 23 percent to P22.7 billion the year prior, accounting for more than 25 percent of the total revenue mix. Mobile data continued to be the main driver of its revenue mix at P43.8 billion, a 7-percent increase from the year prior, while the enterprise group settled at P20.4 billion, which is 2 percent higher than that of last year.

In total service revenues for the first six months of the year reached P89.9 billion.

“Now, people in the homes are sharing one connectivity. We will continue to see that as this pandemic continues to be an issue, maybe for the rest of the year and until vaccination rates rise,” Panlilio said.

He noted that the group is expecting to see more revenues from its mobile business as the economy opens up.

As such, the telco group is also building out its 5G network. It has already exceeded its target of deploying 3,800 5G base stations in the country. As of the first semester, Smart has about 4,287 5G base stations spread across the Philippines.

Panlilio noted that despite meeting its targets, the company will “continue to deploy” more 5G sites, given that “5G is the future.”

Pangilinan said average revenue

per user (ARPU) in 5G is P200 more than that of 4G and 4x that of traditional 2G. The telco giant booked a net income of P12.9 billion in the first half of the year, flattish when compared to last year. However, its telco core income—which excludes the impact of asset sales and losses from its digital unit Voyager—grew by 10 percent to P15.2 billion from P13.9 billion the year prior.

The growth momentum will likely carry over to the rest of the year, Pangilinan said.

“For the full year, you’ll see us above P190 billion in terms of service revenues, while capital expenditures will likely to land at around P90 billion, higher by 25 percent compared to 2020, driven by continued build out of 5G and more and more fiber being laid for FTTH. For telco core income we’ll be aiming to achieve P30 billion for the full year,” he said.

Cebu Pacific resumes international flights

C

ebu Pacific (CEB), the Philippines’s leading carrier, on Thursday said it will mount flights to additional key Asian destinations in August as it rebuilds international operations.

Beginning August 4, CEB will increase its flight frequencies to Singapore from twice to thrice weekly, with Manila to Singapore operating every Tuesday, Thursday, and Saturday. Singapore to Manila will be every Wednesday, Friday, and Sunday.

In addition, special commercial flights from Dubai to Manila are mounted every Wednesday, in response to the government’s call for assistance to repatriate workers in the Middle East while the travel ban remains in effect.

Flights between Manila and Seoul, South Korea have gone up from twice to thrice weekly with additional frequency on Monday, beginning August 16.

Starting August 22, CEB will be flying from twice to thrice weekly from Tokyo (Narita) to Manila, with additional frequency every Sunday.

BusinessMirror file photo

Daily flights to Hong Kong from Manila will resume on August 11.

Other reinstated flights include flights to Nagoya, Osaka (Kansai) and Taipei, starting the week of August 14, with twice weekly flights for Nagoya and Osaka (Kansai); and weekly flights for Taipei to and from Manila.

“We remain cautiously optimistic as we gradually rebuild our international network,” said Candice Iyog, Vice President for Marketing and Customer Experience of Cebu Pacific. “We rec-

ognize the need for non-leisure travel to these routes and we assure everyJuan that we are committed to keep prioritizing safety as we restore trust and confidence in air travel.”

Flight schedules may be viewed, and bookings made on the airline’s website.

The airline said travel regulations issued by the governments of the Philippines, the United Arab Emirates, Singapore, Japan, Hong Kong, South Korea and Taiwan will be implemented. Recto L. Mercene

Friday, August 6, 2021

B1

D&L’s Batangas plant to start commercial operation in May 2022

C

hemical manufacturer D&L Industries Inc. has decided to push back the commercial operation date of its Batangas plant to May 2022 due to the delays caused by the government-mandated lockdowns.

T he company on T hursday said its unit D&L Premium Foods Corp., the operator of the new plant, has already secured approval from the Philippine Economic Zone Authority (PEZA) to postpone its commercial operation.

D& L Prem iu m, whic h w i l l manufacture various food ingredients to cater to the company’s growing export business, was originally slated to start commercial operations in October.

The company had to reconsider its plans for the new plant due to the challenges and delays caused by the recent spike in Covid-19 cases and the reimposition of lockdowns as well as delays in the arrival of equipment and machines for the facility.

PEZA has given the company its go signal to extend the date for the commencement of commercial operations to January 2023.

Natura Aeropack Corp. another wholly-owned subsidiary of D&L, which will manufacture coconut oleochemicals for various consumer care products, will now be the first plant to operate within its Batangas facility. It will start its commercial operations in May 2022 as originally planned.

“While the Covid-19 pandemic and various mobility restrictions have caused challenges in the completion of our Batangas plant, we remain committed to this project. We see ever-growing opportunities in relevant industries in the new normal that we can tap into with this new plant,” D&L President and CEO Alvin Lao said.

“This is evidenced by the resil-

ient and robust growth in our export sales which grew 84 percent year-on-year in the first quarter of the year. Our existing capacity is still sufficient to serve requirements in the near term, as such the extension in the SCO should have no material impact on current operations.”

D&L’s new Batangas plant sits on a 26-hectare property in First Industr ia l Tow nshipp-Specia l Economic Zone in Batangas. The ongoing expansion, or its phase 1, will occupy roughly half of the property. The company has so far spent about P4.5 billion for the project. The remaining capital expenditure (capex) budget to be spent this year and in 2022 stands at about P3.5 billion.

D&L will conduct its maiden bond offering later this year to fund the remaining capex for this expansion.

Once completed, the new plant will be instrumental to the company’s future growth, in line with plans to develop more high valueadded coconut-based products and penetrate new international markets.

It will mainly cater to the company’s growing export business in the food and oleochemicals segment, add the capability to manufacture downstream packaging and allow the company to capture a bigger part of the production chain.

The new plants will allow it to pack at source, which means that it will have the ability to process the raw materials and package them closer to finished consumer-facing products.

“While the pandemic is still ongoing, D&L believes that the Batangas expansion is coming at an opportune time given the strong demand for high value coconut-based products in the export market,” the company said. VG Cabuag

B2

Companies BusinessMirror

Friday, August 6, 2021

PSE STOCK QUOTATIONS

August 5, 2021

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

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

110.6 83.65 24 9.44 45.65 20.4 56 110.5 75.85 1.16 4.36 0.6 0.63 219 2,402 0.89

111 83.8 24.15 9.45 45.8 20.5 57.5 112.2 75.9 1.26 4.38 0.64 0.69 220 2,550 0.95

111 83 24.15 9.6 45.95 20.65 55.55 113 76 1.19 4.3 0.64 0.63 231.8 2,400 0.89

112.7 83.9 24.2 9.6 46 20.75 57.5 113 76 1.26 4.39 0.64 0.63 231.8 2,400 0.95

110.3 82.85 24 9.27 45.5 20.05 55.55 110.5 75.8 1.19 4.3 0.64 0.63 210 2,400 0.89

111 83.8 24 9.45 45.8 20.5 57.5 112.2 75.9 1.26 4.36 0.64 0.63 219 2,400 0.95

2,272,140 252,993,859 1,927,750 160,845,376.50 15,900 382,745 278,200 2,597,552 772,200 35,334,275 71,700 1,465,000 690 39,636 96,120 10,763,077 850 64,488 54,000 67,780 16,000 69,230 30,000 19,200 4,000 2,520 56,910 12,505,246 10 24,000 5,000 4,630

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MAXS GROUP MG HLDG MONDE NISSIN SHAKEYS PIZZA ROXAS AND CO RFM CORP SWIFT FOODS UNIV ROBINA VITARICH CONCRETE A CEMEX HLDG EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED MABUHAY VINYL PRYCE CORP GREENERGY INTEGRATED MICR PANASONIC SFA SEMICON CIRTEK HLDG

8.73 1.23 22.95 0.51 28.65 74 270.6 17.14 3.11 3.93 12.5 17.62 12.48 5.92 2.56 13 24.05 13.66 7.92 14.92 81 0.65 1.2 96.1 189.6 28.15 5.96 0.224 15.3 7.51 0.96 4.5 0.132 136 0.77 48 1.21 7.52 6.62 6.12 12.98 0.99 1.28 1.68 1.75 5.2 5.4 2.64 8.29 5.82 1.22 4.95

8.74 1.26 23 0.52 28.75 74.05 272 17.2 3.12 4 12.88 17.66 12.5 6.01 2.6 14.36 24.1 13.68 7.93 15 81.15 0.67 1.21 96.2 190 29.75 6 0.234 15.34 7.65 0.98 4.59 0.133 137 0.78 49.95 1.22 8.1 6.64 6.13 13.78 1.01 1.31 1.7 1.81 5.33 5.5 2.65 8.3 5.89 1.26 4.96

8.5 1.24 23.5 0.56 29.15 74 269.8 17 3.15 3.96 12.52 17.62 12.24 6.01 2.61 12.94 25 13.64 8.09 15 83 0.66 1.23 92 193 28.5 6.05 0.221 15.58 7.8 0.98 4.5 0.134 134.8 0.79 49.95 1.23 7.31 6.78 6.15 12.82 1 1.33 1.7 1.81 5.35 5.5 2.67 8.5 5.89 1.25 4.98

8.74 1.27 23.65 0.56 29.3 74.05 272 17.28 3.18 3.96 12.88 17.8 12.5 6.08 2.65 14.4 25 14.2 8.1 15.4 83 0.66 1.23 97.95 194.9 28.5 6.05 0.239 15.58 7.8 0.99 4.5 0.134 137 0.79 49.95 1.24 8 6.78 6.19 13 1 1.34 1.7 1.81 5.38 5.5 2.68 8.53 5.89 1.26 5.05

8.43 1.23 23 0.51 28.6 74 268 16.9 3.1 3.91 12.52 17.54 12.22 5.93 2.56 12.94 24.1 13.26 7.92 14.9 81 0.64 1.19 92 189 28.5 5.95 0.221 15.1 7.51 0.96 4.5 0.132 133.9 0.77 49.95 1.21 7.31 6.58 5.98 12.82 0.98 1.27 1.7 1.75 5.21 5.5 2.53 8.3 5.89 1.25 4.92

8.74 1.23 23 0.52 28.75 74 272 17.2 3.12 3.93 12.88 17.66 12.5 6.02 2.56 14.4 24.1 13.66 7.92 14.92 81.15 0.66 1.21 96.2 189.6 28.5 6 0.234 15.3 7.65 0.98 4.5 0.133 137 0.77 49.95 1.22 8 6.64 6.13 13 0.99 1.28 1.7 1.75 5.33 5.5 2.65 8.3 5.89 1.26 4.96

61,925,600 157,000 3,323,200 34,752,000 243,500 78,200 200,790 553,600 1,020,000 143,000 23,000 49,500 240,500 41,500 312,000 700 1,209,200 976,000 575,800 629,400 109,950 159,000 4,902,000 37,730 294,810 800 43,400 210,000 4,852,700 7,300 3,857,000 90,000 1,110,000 739,930 1,592,000 100 581,000 765,100 51,600 570,100 35,800 128,000 3,637,000 10,000 125,000 2,000 17,100 9,324,000 534,200 300 8,000 1,759,000

35,821,414 -38,441,309 -43,140.00 6,734,005 -436,195 11,500 -2,943,888 -3,794 10,780,000 24,000 -

534,221,466 196,270 76,851,965 18,423,610 7,045,820 5,786,815.50 54,463,276 9,486,098 3,175,630 560,320 294,980 871,452 2,987,556 249,446 805,490 9,934 29,495,930 13,422,128 4,587,770 9,468,996 8,961,228 104,000 5,927,260 3,617,800.50 56,061,149 22,800 259,960 49,460 74,438,402 55,294 3,765,770 405,000 147,170 100,130,301 1,233,580 4,995 710,300 6,088,460 341,186 3,436,899 465,112 127,870 4,702,140 17,000 223,640 10,672 94,050 24,382,020 4,483,501 1,767 10,030 8,738,610

231,139,498 12,500 -30,869,010 144,180 -3,438,705 1,169,955.50 36,305,226 5,836,354 -115,560 -39,100 -257,200 -54,230 2,164,215 -46,922 -2,382,555.00 86,074 -2,724,467 -7,290 -288,631.50 -16,871,734 -7,449,910 -1,502 -1,292,340 405,000 -23,694,257 5,212,640 -24,349 4,414 148,200 82,500 -329,680 -307,890 -694,840

HOLDING & FRIMS ABACORE CAPITAL 0.93 0.94 0.96 0.96 0.93 0.94 936,000 879,460 ASIABEST GROUP 6.7 6.8 6 7 6 6.7 1,800 11,950 739.5 740 760 761 738 740 124,690 93,006,210 AYALA CORP 40.05 40.1 40 40.35 39.5 40.05 629,700 25,207,295 ABOITIZ EQUITY ALLIANCE GLOBAL 9.96 9.98 9.99 9.99 9.93 9.98 526,300 5,251,863 3.98 3.99 4.07 4.11 3.96 3.99 2,408,000 9,671,260 AYALA LAND LOG 6.7 7 7 7 7 7 1,100 7,700 ANSCOR ANGLO PHIL HLDG 0.95 0.97 0.99 0.99 0.93 0.97 2,860,000 2,689,590 ATN HLDG A 0.58 0.6 0.6 0.6 0.58 0.6 295,000 174,820 0.56 0.6 0.56 0.62 0.56 0.62 27,000 15,780 ATN HLDG B COSCO CAPITAL 5.03 5.06 5.1 5.1 5 5.06 126,800 640,605 DMCI HLDG 6.1 6.11 6.05 6.21 6.05 6.1 2,442,400 15,018,771 7.56 7.6 7.75 7.75 7.75 7.75 1,100 8,525 FILINVEST DEV 536 537 539 545 532 537 147,810 79,443,880 GT CAPITAL HOUSE OF INV 3.89 4.07 3.91 3.91 3.9 3.91 310,000 1,212,000 59.35 59.9 59.75 59.9 59.2 59.9 1,624,320 96,942,519 JG SUMMIT 0.64 0.65 0.68 0.68 0.62 0.65 550,000 348,420 LODESTAR LOPEZ HLDG 2.94 3 2.93 2.96 2.93 2.94 1,487,000 4,363,670 LT GROUP 9.73 9.74 10.12 10.12 9.74 9.74 10,035,900 98,936,499 3.7 3.71 3.69 3.7 3.61 3.7 7,079,000 26,052,170 METRO PAC INV PACIFICA HLDG 3.4 3.6 3.5 3.5 3.5 3.5 2,000 7,000 SM INVESTMENTS 963 974 975 985 963 963 134,750 131,054,075 107.2 109 107 110.2 106.9 107.2 86,850 9,384,303 SAN MIGUEL CORP TOP FRONTIER 137 138 135.5 138 135.5 138 510 70,115 WELLEX INDUS 0.26 0.28 0.255 0.255 0.255 0.255 100,000 25,500 0.197 0.199 0.2 0.2 0.195 0.198 310,000 61,130 ZEUS HLDG

180,690 15,112,660 6,172,290 1,785,695 -163,620 -1,775,670 -179,298.00 -107,003 -1,550 -63,012,125 -1,173,000 -7,367,427 -124,830 -1,424,880 -9,964,648 -2,676,440 19,943,775 -39,259 12,195 -

PROPERTY ARTHALAND CORP 0.62 0.63 0.62 0.63 0.62 0.62 154,000 96,280 AYALA LAND 32.5 32.65 33.45 33.45 32.45 32.5 11,442,300 374,569,785 1.13 1.18 1.13 1.13 1.13 1.13 1,000 1,130 ARANETA PROP AREIT RT 36 36.05 36.4 36.4 36 36 276,300 9,991,735 BELLE CORP 1.35 1.36 1.35 1.36 1.35 1.36 269,000 364,390 0.87 0.9 0.88 0.9 0.86 0.89 29,000 25,480 A BROWN CITYLAND DEVT 0.77 0.78 0.78 0.79 0.77 0.78 215,000 167,680 CROWN EQUITIES 0.124 0.128 0.13 0.13 0.125 0.128 590,000 73,910 CEBU HLDG 6.2 6.5 6.5 6.5 6.5 6.5 1,200 7,800 2.9 2.91 2.87 2.9 2.87 2.9 1,077,000 3,107,010 CEB LANDMASTERS CENTURY PROP 0.4 0.405 0.405 0.42 0.4 0.405 15,640,000 6,378,800 DOUBLEDRAGON 10.88 10.9 10.82 10.98 10.82 10.9 709,000 7,738,906 1.8 1.81 1.84 1.84 1.8 1.81 4,109,000 7,448,290 DDMP RT 6.96 7.13 6.92 7.14 6.92 7.14 26,400 183,863 DM WENCESLAO EVER GOTESCO 0.34 0.345 0.365 0.38 0.345 0.345 52,990,000 19,120,550 1.11 1.12 1.12 1.13 1.11 1.12 8,251,000 9,222,850 FILINVEST LAND 0.83 0.85 0.85 0.85 0.83 0.85 92,000 77,380 GLOBAL ESTATE 8990 HLDG 7.03 7.22 7.04 7.04 7.02 7.02 6,900 48,498 PHIL INFRADEV 1.22 1.23 1.23 1.23 1.22 1.22 151,000 184,770 1.27 1.31 1.32 1.38 1.26 1.32 479,000 650,080 CITY AND LAND MEGAWORLD 2.71 2.73 2.82 2.84 2.71 2.71 69,214,000 190,030,270 MRC ALLIED 0.285 0.29 0.3 0.3 0.29 0.29 6,490,000 1,904,250 0.53 0.54 0.55 0.57 0.53 0.54 3,848,000 2,096,930 PHIL ESTATES PRIMEX CORP 2.2 2.24 2.23 2.24 2.2 2.2 299,000 664,430 ROBINSONS LAND 16.3 16.34 16.48 16.5 16.08 16.3 2,642,600 43,102,770 0.275 0.285 0.285 0.29 0.27 0.285 2,430,000 675,500 PHIL REALTY ROCKWELL 1.46 1.53 1.46 1.46 1.46 1.46 5,000 7,300 STA LUCIA LAND 2.89 2.93 2.95 3 2.89 2.93 216,000 631,240 32.95 33 34.05 34.1 32.6 32.95 6,322,500 208,911,365 SM PRIME HLDG 3.72 3.82 3.72 3.83 3.72 3.8 10,000 38,040 VISTAMALLS SUNTRUST HOME 1.73 1.75 1.63 1.75 1.6 1.75 5,990,000 10,135,070 VISTA LAND 3.46 3.5 3.56 3.56 3.46 3.46 249,000 871,040

SERVICES ABS CBN 11.04 11.24 11.24 11.26 11 11.04 81,400 902,476 GMA NETWORK 13.52 13.54 13.88 14 13.32 13.54 2,943,200 40,455,668 0.405 0.435 0.435 0.44 0.435 0.44 30,000 13,150 MANILA BULLETIN GLOBE TELECOM 1,914 1,936 1,899 1,936 1,886 1,936 48,380 92,989,105 PLDT 1,256 1,274 1,250 1,274 1,230 1,274 66,105 82,674,355 0.115 0.116 0.121 0.121 0.112 0.116 183,490,000 21,218,990 APOLLO GLOBAL 23.9 23.95 23.95 23.95 23.7 23.9 5,093,900 121,302,690 CONVERGE DFNN INC 3.56 3.6 3.55 3.75 3.41 3.62 205,000 733,880 DITO CME HLDG 7.15 7.16 7.38 7.44 7.1 7.15 5,534,400 39,784,022 2.06 2.18 2.1 2.1 2.1 2.1 2,000 4,200 JACKSTONES NOW CORP 2.07 2.09 2.12 2.15 2.05 2.08 752,000 1,581,570 TRANSPACIFIC BR 0.395 0.4 0.425 0.435 0.4 0.4 31,400,000 13,055,350 2.19 2.24 2.22 2.25 2.19 2.24 151,000 332,660 PHILWEB 2GO GROUP 8.1 8.2 8.1 8.1 8.1 8.1 100 810 ASIAN TERMINALS 14 14.3 14.3 14.3 14.1 14.1 1,500 21,350 2.55 2.56 2.58 2.6 2.52 2.56 773,000 1,961,010 CHELSEA 44.2 44.25 44 44.35 44 44.25 243,200 10,758,310 CEBU AIR INTL CONTAINER 174.8 177 175 177 167.5 177 3,479,750 608,601,731 LBC EXPRESS 16.3 17.58 16.28 16.28 16.28 16.28 700 11,396 0.95 0.97 0.97 0.97 0.97 0.97 2,000 1,940 LORENZO SHIPPNG MACROASIA 4.54 4.55 4.72 4.72 4.51 4.55 285,000 1,309,170 HARBOR STAR 1.02 1.06 1.08 1.1 1.02 1.06 143,000 148,900 1.64 1.7 1.66 1.74 1.65 1.65 169,000 283,490 ACESITE HOTEL BOULEVARD HLDG 0.099 0.1 0.098 0.1 0.096 0.099 65,220,000 6,365,580 GRAND PLAZA 12.08 14.46 12.08 15.44 12.08 15.44 1,200 15,004 0.53 0.54 0.54 0.55 0.54 0.54 17,000 9,200 WATERFRONT CENTRO ESCOLAR 6.68 6.87 6.8 7 6.8 7 15,300 105,946 IPEOPLE 7.1 7.47 7.1 7.47 7.1 7.47 600 4,445 0.34 0.35 0.34 0.34 0.34 0.34 360,000 122,400 STI HLDG 5.75 5.8 5.53 6 5.53 5.75 262,100 1,489,126 BERJAYA BLOOMBERRY 5.64 5.65 5.67 5.9 5.65 5.65 4,292,700 24,469,402 PACIFIC ONLINE 1.98 2.05 2 2.05 2 2.05 23,000 46,500 1.43 1.45 1.45 1.45 1.44 1.45 61,000 88,180 LEISURE AND RES PH RESORTS GRP 1.64 1.67 1.65 1.68 1.61 1.68 462,000 761,830 PREMIUM LEISURE 0.4 0.41 0.41 0.41 0.4 0.4 550,000 220,950 7.35 7.49 7.77 7.77 7.29 7.35 607,200 4,469,575 ALLHOME 1.28 1.29 1.31 1.31 1.28 1.28 753,000 969,850 METRO RETAIL PUREGOLD 39.95 40 40.2 40.45 39.9 40 1,774,200 71,166,100 50.3 50.65 53.2 53.2 50.3 50.3 1,549,530 78,702,590.50 ROBINSONS RTL 88.25 88.5 88.05 88.5 88.05 88.5 2,970 262,813.50 PHIL SEVEN CORP SSI GROUP 1.12 1.14 1.14 1.14 1.12 1.12 1,140,000 1,286,000 22.35 22.4 23.25 23.25 22.1 22.4 1,676,900 37,846,060 WILCON DEPOT 0.325 0.345 0.345 0.345 0.345 0.345 150,000 51,750 APC GROUP EASYCALL 5.11 5.42 5.11 5.12 5.11 5.11 17,700 90,448 GOLDEN MV 438.2 448.4 448.4 448.4 448.4 448.4 1,000 448,400 6.45 6.49 6.49 6.49 6.49 6.49 15,000 97,350 IPM HLDG PRMIERE HORIZON 1.08 1.09 1.08 1.11 1.03 1.09 11,428,000 12,300,430

MINING & OIL ATOK 6.46 6.5 6.6 6.6 6.39 6.5 82,600 534,247 1.63 1.64 1.61 1.64 1.61 1.64 1,212,000 1,981,480 APEX MINING ATLAS MINING 6.74 6.75 6.94 6.94 6.7 6.74 1,149,200 7,778,654 BENGUET A 5.11 5.27 5.29 5.32 5.11 5.28 18,500 97,575 0.285 0.295 0.285 0.285 0.285 0.285 20,000 5,700 COAL ASIA HLDG CENTURY PEAK 2.77 2.85 2.72 2.85 2.72 2.85 253,000 708,580 DIZON MINES 6.18 6.41 6.42 6.42 6.41 6.41 2,000 12,821 FERRONICKEL 2.36 2.38 2.38 2.38 2.35 2.36 1,016,000 2,401,440 0.135 0.138 0.138 0.138 0.135 0.135 2,250,000 305,220 LEPANTO A LEPANTO B 0.135 0.14 0.141 0.141 0.14 0.14 1,290,000 181,200 MANILA MINING A 0.01 0.011 0.01 0.011 0.01 0.011 205,100,000 2,051,900 0.01 0.011 0.01 0.011 0.01 0.011 6,900,000 72,600 MANILA MINING B MARCVENTURES 1.05 1.06 1.14 1.18 1.02 1.05 8,119,000 8,667,480 NIHAO 1.25 1.26 1.28 1.28 1.25 1.26 8,000 10,050 6.2 6.21 6.2 6.32 6.01 6.21 7,236,000 44,892,533 NICKEL ASIA 0.92 0.93 0.94 0.94 0.91 0.93 222,000 205,580 ORNTL PENINSULA PX MINING 5.86 5.9 5.95 6 5.86 5.86 1,065,800 6,371,651 SEMIRARA MINING 17.08 17.2 17.3 17.8 17 17.2 1,245,900 21,669,434 0.0087 0.0088 0.0088 0.0088 0.0087 0.0087 6,000,000 52,500 UNITED PARAGON ACE ENEXOR 16 16.3 16 16.4 16 16.3 24,500 397,560 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 4,200,000 50,200 0.011 0.012 0.012 0.012 0.012 0.012 1,500,000 18,000 ORNTL PETROL B PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.011 2,500,000 28,200 PXP ENERGY 6.05 6.19 6.21 6.38 6.05 6.05 504,900 3,089,871

PREFFERED HOUSE PREF B 100 101 101 101 101 101 20 2,020 HOUSE PREF A 100.7 101 102 102 102 102 150 15,300 100.8 103.4 103.4 103.4 103.4 103.4 250 25,850 ALCO PREF B CEB PREF 43.95 44 45 45 43.8 44 22,400 984,800 DD PREF 100.6 100.9 101 101 100.6 100.6 1,250 126,078 104.4 104.5 104.8 104.8 104.5 104.5 1,560 163,062 FGEN PREF G GTCAP PREF B 1,021 1,046 1,021 1,040 1,021 1,040 535 546,900 MWIDE PREF 100.5 101 100.5 100.5 100.5 100.5 160 16,080 PNX PREF 4 1,005 1,009 1,009 1,009 1,009 1,009 5 5,045 1,008 1,016 1,016 1,016 1,016 1,016 460 467,360 PCOR PREF 2B PCOR PREF 3A 1,115 1,117 1,115 1,115 1,115 1,115 1,400 1,561,000 PCOR PREF 3B 1,159 1,160 1,155 1,159 1,155 1,159 300 347,300 77.1 77.8 77.85 77.85 77 77.05 26,100 2,011,791.50 SMC PREF 2C SMC PREF 2F 78.65 79.35 78.5 78.55 78.5 78.55 420 32,971 SMC PREF 2H 76.1 76.9 76.05 76.05 76.05 76.05 1,000 76,050 78.1 78.95 78.05 78.05 78.05 78.05 300 23,415 SMC PREF 2I SMC PREF 2K 76.5 76.9 76.5 76.5 76.5 76.5 1,700 130,050

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.42 10.78 - - - - - - GMA HLDG PDR 11.82 12 12.3 12.3 11.82 11.82 65,700 792,896

WARRANTS LR WARRANT 1.21 1 - - - - - -

-54,093,465 1,962,240 -174,150 24,140 35,000 -7,800 22,720 -406,350 -3,508,118 -2,203,230 -695,850 2,084,290 10,542 122,500 -23,940 -106,910,710 64,500 -11,026,376 -65,469,435 19,000 96,840 40,016,110 -14,085,385 612,670 59,560,595 72,880 2,147,000 315,000 -6,300 25,600 -1,865,815 200,408,131 -76,560 -141,080 -98,600 -3,602,911 -4,050 3,060,118 -297,570 26,885,760 -27,714,811.50 -252,193.50 -349,440.00 8,769,760 1,439,540 -16,137 -194,271 81,380 -642 -57,140 57,080 3,215,031 -147,819 1,148,652 3,260 -18,488 -888,040 - - -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS MAKATI FINANCE MERRYMART

18.14 2.05 2.69 3.53

18.2 2.06 2.72 3.54

EXHANGE TRADE FUNDS FIRST METRO ETF

99

99.45

17.1 2.08 2.72 3.65

18.2 2.09 2.72 3.66

17.1 2.01 2.68 3.46

18.2 2.06 2.72 3.53

237,200 388,000 24,000 5,776,000

4,221,864 793,270 65,080 20,554,430

139,908 -2,178,070

101.2 101.2 99.45 99.45 20,670 2,070,835.50 189,960

www.businessmirror.com.ph

AC Energy to invest $10M in overseas solar projects

By Lenie Lectura

A

@llectura

C Energy Corp. (ACEN), through its subsidiary AC Renewables International (ACRI), will pour $10 million in fresh funds into international solar rooftop projects that it will develop with its partner, NEFIN Holding Limited (NEFIN).

ACEN has sought board approval to partner with the leading solar photovoltaic developer and investor in carbon neutrality solutions.

ACEN and Hong Kong-based NEFIN will establish a 50-50 joint venture holding company that will develop, construct, and operate rooftop solar projects across Asia.

“ACRI’s investment into the joint venture vehicle will be via a primary infusion of an initial $10 million of fresh funds which will be used to construct near-term projects over the coming years. ACRI will also commit to further expand its funding for the development and construction of the rest of the joint venture’s carbon

neutrality pipeline,” ACEN said.

The joint venture will own 21megawatts (MW) of operating assets and has a robust near-term project pipeline.

NEFIN, as an expert in rooftop solar PV system engineering and management, has collectively delivered over 300 MW of utility-scale, commercial, and industrial solar PV systems for itself and its clients.

ACEN, meanwhile, is one of the highest renewables share capacities in Southeast Asia after pivoting to a lower carbon portfolio by developing more renewable energy projects, and a planned divestment of coal assets.

It intends to be the largest listed re-

Emperador, DMCI exit PSE index

By VG Cabuag @villygc

L

iquor ma ker Emperador Inc. and construction conglomerate DMCI Holdings Inc. have been booted out of the benchmark 30-company Philippine Stock Exchange index (PSEi).

According to the latest review of the PSE, the two companies will be replaced by Ayala-led AC Energy Corp. and broadband internet provider Converge Information and Communications Technology Solutions Inc. They will be included in the benchmark index starting on August 16.

“We reviewed the index policies of our peer exchanges and took note of provisions that will make our own policies more consistent with what is practiced globally. The policy revisions we adopted will continue to ensure the quality and integrity of the PSEi and sector indices,” PSE president and CEO Ramon S. Monzon said. For this review, the companies that qualify for inclusion in the PSE are those with a free float level of at least 15 percent, ranks among the top 25 percent by median daily value per month for at least nine out of 12 months and ranks among the highest in market capitalization.

The PSE also takes into consideration relevant financial criteria when conducting the index review.

For the July 2020 to June 2021 review, another consideration was the early inclusion of large issuances.

For the next review, however, the PSE is increasing its requirement on the company’s free float level, which should be at least 20 percent from the current 15 percent. This requirement will be implemented in the December 2022 index review to give listed companies ample time to satisfy this criterion.

This rule aligns PSE’s index policy with the Securities and Exchange Commission’s Memorandum Circular No. 13 Series of 2017, requiring companies conducting an initial public offering to have a minimum public ownership of at least 20 percent.

“Since newly listed companies are mandated to have a 20 percent free float level, this was a necessary adjustment to our index requirements. Companies that want to consistently be or aspire to become part of the index should make sure that their public float complies, if not exceeds, the minimum level required by the SEC of newly listed companies,” Monzon said.

The sector indices will also have a recomposition of its member-companies.

Rizal Commercial Banking Corp. will be removed from the Financials index.

The Industrial index will see the inclusion of Alsons Consolidated Resources Inc. and the exclusion of EEI Corp., Shakey’s Pizza Asia Ventures Inc. and Phoenix Petroleum Philippines Inc. For the Holding Firms index, AbaCore Capital Holdings Inc. will be added and Lopez Holdings Corp. will be removed.

For the Property index, Arthaland Corp. and D.M. Wenceslao and Associates Inc. will be kicked out.

Securities that will be part of the Services index are Converge and Premier Horizon Alliance Corp., while STI Education Systems Holdings Inc. and Harbor Star Shipping Services Inc. were excluded from the index.

Atlas Consolidated Mining and Development Corp., Marcventures Holdings Inc. and Oriental Peninsula Resources Group Inc. will become new members of the Mining and Oil index while Century Peak Holdings Corp. will no longer be included.

newables platform in Southeast Asia, and is on track to achieve its goal of reaching 5,000MW of renewables capacity by 2025.

“The partnership between ACEN and NEFIN is a natural fit, with both businesses anchored on sustainability and with growing renewable energy capacity,” said the power arm of conglomerate Ayala Corp.

DBS Bank Ltd. is the sole financial advisor for NEFIN for this transaction.

Meanwhile, ACEN also sought board approval to reallocate P900 million of the P5.4-billion proceeds of the stock rights offering (SRO) held last January to partially finance its investment in Greencore 3 Power Solutions, Inc. for a 75-MW plant in Arayat and Mexico, Pampanga.

The amount was originally allocated to finance its investment in the 160MW Balaoi wind project; investment into a renewable energy laboratory; funding of up to $100 million for new technology investments in the country; and finance its investment in Giga Ace 8 Inc. for the 75MW Palauig solar plant in Zambales, with a target to increase to 130MW. Board approval was also given to reallocate P6.17 billion of the P13-

billion follow on offering (FOO) proceeds to partially finance its investment in Santa Cruz Solar Energy Inc. for a 250MW plant in San Marcelino, Zambales worth P5.37 billion and for land acquisition worth P800 million.

The amount was originally allocated to partially finance its investment in Giga Ace 8 for the Palauig Solar Project, repayment of loans and reduction of payables, and new technology investments.

The board also approved an additional $150-million credit line from banks; up to $80-million investment into the NEFIN Group; and the 250 MW GIGASOL San Marcelino Solar project.

In January, it completed the SRO where it sold a total of 2.27 billion common shares at P2.37 apiece for a total of nearly P5.4 billion. Last May, ACEN raised P13 billion from its FOO, its third and final fundraising activity this year.

This brings the total fresh capital raised by AC Energy to P27 billion, which will be used to bankroll its 5,000-megawatt (MW) renewable energy development by 2025. Its renewable energy portfolio is set to reach 2,500 MW within the year, already in the halfway mark of its target.

mutual funds

August 5, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

212.15

11.34%

-7%

-5.09%

ATRAM Alpha Opportunity Fund, Inc. -a

1.3883

38.08%

-2.09%

0.14%

5.73%

14.58%

-11.15%

-7.8%

-6.79% -8.21%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9204

-6.63%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7379 12.62%

-6.99% n.a.

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7266 11.77%

-5.58% n.a.

-2.02%

First Metro Save and Learn Equity Fund,Inc. -a

-5.01%

-3.39%

-5.36%

9.16%

4.6762

14.18%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6997

-7.72%

-7.34%

25.18%

-3.69% n.a.

-5.2%

43.3027

13.65%

-5.46%

-4.07%

-7.57%

456.35

10.87%

-5.06%

-4.39%

-6.67%

Philequity Alpha One Fund, Inc. -a,d,5

1.0592

25.54% n.a. n.a.

-3.47%

Philequity Dividend Yield Fund, Inc. -a

1.1152

14.44%

-4.5%

-3.3%

-4.54%

Philequity Fund, Inc. -a

32.672

14.38%

-4.48%

-2.93%

-6.03%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8451

12.1% n.a. n.a.

-7.44%

Philequity PSE Index Fund Inc. -a

4.4412

14.56%

-4.87%

-3.31%

-7.31%

Philippine Stock Index Fund Corp. -a

743.33

14.4%

-4.78%

-3.44%

-7.27%

Soldivo Strategic Growth Fund, Inc. -a

0.6783

15.57%

-8.41%

-6.38%

-5.65%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4095

13.13%

-6.64%

-4.54%

-5.91%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8487 13.95%

-5.13%

-3.59%

-7.52%

United Fund, Inc. -a

-5.33%

-2.73%

-6.65%

-4.56%

-2.9%

MBG Equity Investment Fund, Inc. -a

96.64

PAMI Equity Index Fund, Inc. -a Philam Strategic Growth Fund, Inc. -a

3.0984

12.87%

-7.91%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

99.7937

14.41%

-7.22%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.2005

15.62%

4.93%

6.65%

-0.2%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8193

23.35%

12.11%

12.13%

8.76%

Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a

1.6498

5.76%

-0.96%

-2.33%

-1.13%

ATRAM Philippine Balanced Fund, Inc. -a

2.1604

6.88%

-2.12%

-2.09%

-5.47%

First Metro Save and Learn Balanced Fund Inc. -a 2.527

7.04%

-1.39%

-1.3%

-3.81%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1859

2.71% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

0.67%

1.912

5.62%

-0.38%

-2.65% -4.94%

PAMI Horizon Fund, Inc. -a

3.601

5.2%

-0.37%

-1.67%

Philam Fund, Inc. -a

16.1231

5.67%

-0.25%

-1.64%

-4.8%

Solidaritas Fund, Inc. -a

2.011

7.1%

-1.61%

-1.31%

-3.97%

7.6%

-2.59%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4412

-2.57%

-3.69%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9677

4.97% n.a. n.a.

-5.37%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.876

7.64% n.a. n.a.

-7.71%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8594

9.23% n.a. n.a.

Sun Life Prosperity Dynamic Fund, Inc. -a

8.64%

0.8527

-3.37%

-3.06%

-6.39%

-7.9% -3.94%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.03847

-2.68%

3.02%

1.34%

-1.66%

PAMI Asia Balanced Fund, Inc. -b

$1.1039

7.05%

3.02%

3.7%

-4.03%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7812 17.33%

9.27%

8.47%

5.95%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2262 8.06%

5.42%

4.65%

2%

0.56%

Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a

373.16

1.57%

3.18%

2.42%

ATRAM Corporate Bond Fund, Inc. -a

1.9253

-1.1%

1.11%

0.15%

1.32%

Cocolife Fixed Income Fund, Inc. -a

3.2356

1.19%

3.61%

4.26%

0.65%

Ekklesia Mutual Fund Inc. -a

2.2705

-1.5%

2.33%

1.2%

-1.11%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4462 0.46%

3.35%

1.67%

-0.29%

Philam Bond Fund, Inc. -a

4.4978

-3.67%

4.56%

1.13%

-2.95%

Philam Managed Income Fund, Inc. -a,6

1.3205

1.24%

4.09%

2.73%

-0.05%

Philequity Peso Bond Fund, Inc. -a

3.9852

0.57%

4.66%

1.75%

-0.4%

Soldivo Bond Fund, Inc. -a

1.0413

0.24%

4.99%

1.57%

-0.07%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2235

1.42%

5.37%

2.11%

0.55%

Sun Life Prosperity GS Fund, Inc. -a

0.52%

4.71%

1.44%

0.02%

1.7554

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$487.46

1.98%

3.19%

2.16%

0.74%

ALFM Euro Bond Fund, Inc. -a

Є220.36

1.72%

1.09%

0.9%

0.54%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2036

-3.25%

2.54%

1.38%

-6%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0262 -1.13%

1.85%

0.86%

-1.5%

PAMI Global Bond Fund, Inc -b

$1.0562

-3.49%

0.72%

-0.94%

-3.34%

Philam Dollar Bond Fund, Inc. -a

$2.522

0.45%

5.17%

1.88%

-0.54%

Philequity Dollar Income Fund Inc. -a $0.0630583 3.27%

3.58%

2.1%

1.19%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.206

-1.46%

3.56%

0.82%

-0.55%

Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a

2.53%

0.47%

First Metro Save and Learn Money Market Fund, Inc. -a 1.054 1.02% n.a. n.a.

130.42

1.39%

0.56%

Sun Life Prosperity Money Market Fund, Inc. -a 1.3071

0.81%

1.63%

3% 2.81%

2.55%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0581

1.09%

1.63% n.a.

0.54%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3122

29.46% n.a. n.a.

16.17%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99

4.21% n.a. n.a.

1.02%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund).

7 - Launch date is July 6, 2020.

"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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Banking&Finance

Open Finance Oversight Committee established

By Bianca Cuaresma @BcuaresmaBM

T

HE Bangko Sentral ng Pilipinas (BSP) announced that it has facilitated the establishment of the Open Finance Oversight Committee (OFOC) about a month after formulating the “Open Finance Framework.”

In a virtual presser on Thursday, BSP Governor Benjamin E. Diokno said the OFOC will be an industryled self-governing body that will craft its own rules for membership, participation, procedures and setting of standards.

“In establishing the open finance ecosystem, the BSP sees the value of placing the governance of the industry into a single body with explicit formalized self-governance structure where the industry standards and inter-participant business rules are housed,” Diokno said.

The Open Finance Framework’s main premise is consent-driven data portability, interoperability and collaborative partnerships between financial institutions and fintech players.

Under the framework, consumers will have the power to grant access to their financial data for a customer-centric product development objective. It covers different financial institutions and a broader

array of financial products such as, but not limited to, banking products and services, investments, pensions, and insurance.

The issuance of the Open Finance Framework is one of the initiatives under the BSP’s Digital Payments Transformation Roadmap, which aims to have 70 percent of Filipino adults with transaction accounts by 2023.

The OFOC shall include representatives from banks, non-bank financial institutions, electronic money issuers, operators of payment systems, and other relevant sectors.

“The committee shall promote non-discriminatory membership by ensuring that key areas of interest of the financial industry are adequately represented and that all participants and applicants for membership are treated fairly and consistently,” the Governor said.

The OFOC shall include representatives from banks from each classification: universal/commercial, thrift, rural and digital; non-bank financial institutions, electronic money issuers, operators of payment systems, and other relevant sectors.

“With the Committee and the Framework in place, we hope to further address digital connectivity gaps in the country, with the help of our stakeholders,” the governor said.

Standard Chartered CEO cites inclusive leadership

S

TANDARD Chartered Bank CEO Lynette V. Ortiz believes inclusive leadership is crucial in supporting women employees and promoting a gender-inclusive workplace.

“Working in an environment that fosters inclusivity and advocates for empowerment is the first step,” Ortiz said during a recent webinar organized by the Makati Business Club and the EU-UN Women programme “WeEmpowerAsia.” “At the end of the day, every woman should be purposeful and strategic in driving her career.

Know your stuff, work hard, and assert yourself,” she purportedly said during the webinar. “Do not hesitate to speak your mind, render an opinion and make sure that your voice is hear.”

The statement said during the webinar, Ortiz talked about Standard Chartered Bank’s advocacy and the progress it has made since it signed a statement of support for the UN Women Empowerment Principles (WEP) in 2018 including efforts to address gender pay gaps and increase its female representation in senior leadership roles.

She shared that SCB’s percentage

of women in leadership position has increased to 30 percent and aims to further increase to 35 percent by 2025.

Fourteen of its markets have female CEOs at the helm, including China, Hong Kong, India, UAE and the Philippines, with herself as its first Filipina CEO since 2016. More than half of its country management team members in the Philippines are women.

“Inclusive leadership is critical to encourage participation towards closing the gender gap, but Ortiz also highlighted that promoting gender inclusion and women empowerment is everyone’s responsibility,” the statement said.

According to the statement, the webinar series aimed “to inform and educate the participants on the different women’s empowerment principles and their application in the workplace.”

CEOs and top executives from different companies were invited to share their WEP-aligned best practices to inspire the attendees to take concrete steps in initiating gender-inclusive programs in their own companies and organizations.

BusinessMirror

B3

Set of rules for coco levy fund disbursement out soon–DOF

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By Bernadette D. Nicolas

@BNicolasBM

HE set of guidelines on the disbursement of allocations under the coco levy trust fund for the implementation of programs and activities is eyed to be completed by the second week of August, according to the Department of Finance (DOF).

This comes after members of the Trust Fund Management Committee approved last July 30 the principles that will establish the disbursement framework for the 15 implementing agencies tasked to carry out programs and activities to benefit coconut farmers and the industry.

The TFMC is mandated to oversee the utilization of the Coconut Farmers and Industry Trust Fund (CFITF).

The interagency TFMC was created under the law to oversee and set the investment strategy of the CFITF. The programs, projects and activities to be financed through the coco levy trust fund must be in line with the Coconut Farmers and Industry Development Plan (CFIDP), which

the Philippine Coconut Authority is currently finalizing.

“The important message there is that the implementing agencies cannot delay; they have to use the allocations and there is no excuse for delaying a program that you yourself planned,” Finance Secretary and TFMC Chairman Carlos G. Dominguez III said. “Unless of course, you know there is a typhoon or another pandemic or crisis.”

Apart from the approval of the disbursement framework, the TFMC also discussed in its second meeting the setting up of the Office of the Trust Fund Manager, which will implement the investment strategy set by the TFMC and manage the

portfolio. Finance Undersecretary Antonette C. Tionko, who was earlier designated the trust fund manager of the CFITF, also presented the budget proposal for the Office.

Under Republic Act (RA) 11524 creating the CFITF, the trust fund manager is tasked to, among others, monitor market and economic trends and track securities in order to make informed investment decisions. It is also tasked to recommend its portfolio strategy to the TFMC and track financial results of the companies in the portfolio and its various metrics, such as, but not limited to, price-to-earnings ratios, inflation-adjusted return, sales, earnings, and dividends. The trust fund manager is also tasked to recommend the designation of entities that will dispose the coco levy assets.

During the meeting, the Presidential Commission on Good Government (PCGG) also reported that total coco levy cash assets as of end-2020 amounted to P113.88 billion, of which P76.4 billion is cash. This amount shall be transferred to the CFITF in tranches over five years.

National Treasurer Rosalia V. De Leon, head of the TFMC Secretariat, asked the PCGG to provide a

quarterly report to the TFMC on its discussions with the Commission on Audit (COA) regarding its inventory.

The COA is mandated under the law to audit the PCGG inventory “to determine the completeness of said inventory, establish the reasonableness of the asset valuation, trace the flow of the coconut levy funds, and to determine compliance with pertinent laws, rules, and regulations on the re-conveyance of the Coconut Levy Assets and/or Funds to the Republic.”

The TFMC also ordered a continuous update on the status of coco levy assets in a bid to ensure transparency, accountability, and prudence in the management of CFITF. Meanwhile, the Department of Justice shall be responsible for the review of the status of assets under litigation to ensure their timely privatization as required under the law.

Numerous checks and balances have also been put in place by TFMC to ensure proper utilization of the coco levy funds, such as the establishment of Coconut Levy Asset Registry, which shall serve as the repository of all information related to coco levy assets and shall be periodically updated; and the regular monitoring of the status of disbursements of the implementing agencies.

BSP calls on stakeholders to prep for ‘New Economy’

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ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno encouraged the 2021 “Outstanding BSP Stakeholders” to prepare for the “New Economy” by promoting finance digitalization, financial inclusion and sustainability.

An appreciation ceremony themed “Pagpupugay at Pagkilala sa Gitna ng Hamon ng Pandemya” was held to honor the stakeholders’ contributions in cushioning the effects of the pandemic on the economy.

“You have been our partners in statistical undertakings, information requirements, advocacy programs and various initiatives for many years.

You never left us even during the most trying times.

Now, Together, we can ‘B-S-P’—‘Build a Stronger Philippines,’” Diokno said.

Assistant Governor Amenah F. Pangandaman cited the stakeholders’ contributions to the preCovid economy characterized by strong macroeconomic fundamentals that cushioned the economy during the pandemic.

“These economic gains would not have been possible without the collaborative efforts of the BSP and its stakeholders,” Pangandaman was quoted in a statement as saying.

“You see, we gave our country a fighting chance when it entered the global health crisis. Because of your support and dedication, the BSP was able to pursue sustainable and inclusive economic

Tiered membership: The power to choose

I

Editor: Dennis D. Estopace • Friday, August 6, 2021

accordingly, what they’re have re ad th at willing to pay in terms there are two sacred of membership dues for cows in association such chosen benefits. management dynamics: governance structure Association World Here’s what I picked up from Mary’s presentation: and membership model.

Octavio Peralta Mot ivat i ng facBased on my experience, tors—Some of the conthere is some truth to this siderations for associations to change their observation. Most associations are either membership model include creating appeal reluctant or unable to advance the idea of to a new generation of members (e.g., miltouching, let alone changing, these two lennials), increasing revenue streams, imcritical issues for fear of prolonged and proving services with real-time data, and heated discussions within the board and giving members a choice. The Colorado among members.

Veterinary Medical Association went to a This was the topic of our webinar retiered membership model (i.e., basic, core, cently on “Evolving Membership Models: premium) as an offshoot of its strategy Inspiration from the Field,” that’s why I was meeting, data mining, and the desire to keen to absorb all that I could learn from personalize its membership levels. our speaker, Mary Byers, American associaPractical approaches—Usually, a tion management expert and consultant, three-tiered membership category apauthor and professional speaker. Mary proach works, with the middle category has worked with over 300 associations on that lists service options your association strategic planning, board orientation, and is currently providing members, adding or future-focused discussions. subtracting options for the high-end and Mary’s presentation centered on the low-end categories, respectively. An extiered membership model—a concept ample of this would be basic, standard, and that relates to “product line extension,” a advanced. Another common tier of memmarketing strategy which a company uses bership would be bronze, silver, and gold. to expand its product lines within a wellYou may also need to experiment first established brand (e.g., Coca Cola Lite, Zero, with a pilot, recalibrating or tweaking as etc). Tiered memberships allow members needed, then scaling up and shouting it to choose from a menu of service options out to members. To this end, a “10 peron what benefits appeal to them and,

cent pledge” approach may help (e.g., test 10 percent of your members, 10 percent of your services).

Challenges—As there are opportunities for tiered membership, there are also challenges such as getting buy-in from the board and the general membership, running an education campaign, and having a culture change for members and staff, as well as technology constraints (e.g., having limited tier categories).

In the end, Mary cites that giving your members the power to choose their membership level and benefit options is about having customized experiences in different stages of their professional life. Depending on their career status and financial situation, members can opt to choose a low, mid-, or high level of membership and, from the association’s end, retain members and gain revenues. It’s a win-win proposition.

The column contributor, Octavio ‘Bobby’ Peralta, is Founder & CEO of the Philippine Council of Associations and Association Executives and concurrently, President of the Asia-Pacific Federation of Association Organizations. The purpose of PCAAE—the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of the Tourism Promotions Board, the Philippine International Convention Center and the Association of Development Financing Institutions in Asia and the Pacific. E-mail: obp@adfiap.org

BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno (center) pose with other monetary officials at the BSP Security Plant Complex in Quezon City during ceremonies honoring the 2021 “Outstanding BSP Stakeholders.” Photo courtesy of BSP

growth,” she added.”

Central bank officials at the BSP Security Plant Complex in Quezon City honored the 161 outstanding BSP Stakeholders during the online appreciation ceremony.

The awardees included private and government agencies, international and local organizations,

professional associations, academic institutions, banks, businesses, digital economy service providers, individuals, nongovernment organizations, broadcast media and foundations. The stakeholders represented the National Capital Region, Cordillera Administrative Region, Regions 1 to 13, Australia, Singapore and Malaysia.

Prosecute credit-card fraudsters–Gatchalian

S

ENATOR Sherwin Gatchalian urged authorities to ensure that credit-card fraudsters will be prosecuted to the full extent permitted by applicable laws and that there will be no slackening in hunting down those who continue to perpetrate identity theft, credit-card fraud and other forms of cybercrime.

Gatchalian issued the statement after the National Bureau of Investigation (NBI) arrested a Julius Anacin, “one of the suspects in the hacking or unauthorized use of the senator’s credit card and used to purchase P1.1-million worth of liquor items through an online delivery platform on January 6 this year.”

“This incident necessitates the legislation of a measure that will further strengthen the financial system and protect consumers as financial products and services become more complex,” he emphasized.

Gatchalian touted Senate Bill 2287 or the proposed Financial Products and Services Consumer Protection Act. The bill seeks to cover more financial services and enhances the authority and strengthens collaboration among regulators to promote the welfare of consumers have already gained the support of the Bangko Sentral ng Pilipinas (BSP) and some stakeholders such as the Financial Executives Institute of the Philippines.

“Kailangan nating pairalin ang batas para panagutin at hindi na pamarisan ang mga ganitong iligal na gawain. Hindi ito simpleng libangan dahil alam ng mga kawatan na may mga nilalabag silang batas. Higit sa perang ninanakaw nila, sensitibo ang lahat ng mga impormasyong makukuha sa mga biktima,” Gatchalian said. [We need to enforce the law to hold such illegal activities accountable and no precedent. This is not a simple hobby because thieves know they are

breaking the law. More than the money they steal, all the information available to victims is sensitive.]

The lawmaker immediately extended his commendation to the NBI for unmasking the technologically-savvy and financially-motivated hackers, adding that the agency should also be more vigilant to help other victims of similar crimes.

“The NBI has proven itself to be a reliable entity in law enforcement and can keep up with the technological innovations of hackers who obviously find potential goldmines in their fraudulent schemes,” Gatchalian, Vice Chairperson of the Senate Committee on Economic Affairs, was quoted in a statement as saying.

“Dati-rati hindi ka basta makakabili o makakapagpa-deliver ng kung anu-anong produkto na aabot sa daang libo o milyong piso. Pero dahil sa mga nagsulputang makabagong pamamaraan ng transaksyon, isang click lang gamit ang smartphone o computer ay maisasagawa na ito sa loob lamang ng ilang minuto.

At may ilang mapagsamantala na gagawin ang lahat makapanlamang lamang sa kapwa,” he added. [Before, you could not just buy or deliver products worth hundreds of thousands or millions of pesos. But thanks to the emerging innovative methods of transaction, just one click using a smartphone or computer can be done in just a few minutes. And there are some exploiters who will do everything just to take advantage of others.]

Cybercrime and identity theft may have been found to be an increasingly lucrative and profitable “business” by hackers and fraudsters. However, the adage that crime doesn’t pay will no longer be appropriate to them soon, especially to Anacin and his cohorts, Gatchalian said.

B4

Friday, August 6, 2021 • Editor: Gerard S. Ramos

Relationships BusinessMirror

4 ways that volunteering can be good for you PHOTO BY ISMAEL PARAMO ON UNSPLASH

M

By Jennifer A. Jones University of Florida

ORE than 77 million Americans volunteer a total of 6.9 billion hours a year doing everything from fighting fires to raising funds for cancer research. These efforts help others and support communities. But volunteering also tends to benefit the volunteers themselves in at least four different ways, explains nonprofit management scholar Jennifer A. Jones.

1. Boosting your health, especially if you assist others. Volunteering has long been associated with good mental and physical health, particularly for older people. In a long-term study, researchers at the University of Wisconsin found that volunteering was linked to psychological well-being, and the volunteers themselves said it was good for their own health.

While anyone can benefit from volunteering, people who are the least connected to others tend to benefit the most. In fact, the benefits are so strong that researchers have suggested public health officials educate the public to consider volunteering as part of a healthy lifestyle.

One study in particular looked into which kind of volunteering may be best for your health. When a team of social scientists combed through data collected in Texas, they found that people who volunteered in ways that benefited others tended to get a bigger physical health boost than volunteers who were pitching in for their own sake. They also benefited in terms of their mental health, such as by experiencing fewer symptoms of depression and becoming more satisfied with their lives.

That is, serving meals at a soup kitchen might be better for your health than doing unpaid shifts as an usher in exchange for free theater tickets.

2. Making more connections. Volunteering, especially when it’s done on a regular basis, can help you make new acquaintances. Whether you volunteer for an organization on a daily, weekly or monthly basis, over time you are bound to develop strong relationships, typically with other volunteers and staff members.

Regular volunteers may get these benefits to a greater degree than people who volunteer sporadically, known as episodic volunteers. Consider this: Handing out water at a fundraising run in April and then helping bag groceries to give away in November is surely easier to squeeze into a busy schedule than volunteering regularly in an office. But those more convenient activities aren’t as likely to help you build relationships over time. In other words, consistency matters.

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Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Vera Farmiga, 48; Geri Halliwell, 49; M. Night Shyamalan, 51; Michelle Yeoh, 59.

Happy Birthday: Distance yourself from inconsistency and people who are erratic or disruptive or who take you for granted. Build an environment conducive to success and happiness. Be the pillar of strength. Strive for perfection, reach your goal and make decisions that encourage others to stand by your side and support your efforts. The decisions you make will change your life for years to come. Your numbers are 9, 14, 22, 28, 31, 39, 45.

a

ARIES (March 21-April 19): Get all the facts before you say or do something you may regret.

Make plans with someone who brings out the best in you. An activity that challenges you mentally will help you make a good impression on someone influential. HH

b

TAURUS (April 20-May 20): Do your research before you make changes. An impulsive move will leave you in a precarious position and eager to backtrack. Don’t let stubbornness keep you from making better decisions. HHHH

c

GEMINI (May 21-June 20): Take better care of your health and well-being. Indulgent behavior will come at a cost. If you need help, seek reliable people who will look out for your best interests.

Learn from your mistakes, and find productive outlets.

HHH

d

CANCER (June 21-July 22): Use your emotions to your advantage. Your intuitive insight will guide you to make better decisions, and the changes that will improve your relationships with friends, relatives or your lover. Personal improvements will spruce up your looks and your surroundings. HHH

e

LEO (July 23-Aug. 22): Put your strength and courage where it has the most significant impact. Consider the changes going on around you as an asset, not a restriction. Progress depends on your response. HHH

There are benefits and drawbacks to every type of volunteering. For example, volunteering once in a while is often easy to schedule and is something families or friends can do together. However, volunteers who pitch in occasionally may not feel very connected to the mission of the nonprofits they support or get to know many other volunteers.

Regularly volunteering, on the other hand, makes it more likely that you will develop a deep relationship to the cause and to other staff and volunteers.

However, this kind of volunteering requires a longer-term and bigger time commitment. It can also become frustrating if the volunteer’s duties aren’t a good fit for them. Still, if people are willing to work toward finding the right fit and making time in their schedules, volunteering on a regular basis can help them get more out of their efforts, including new friends and acquaintances.

Renal services facilities expanded in response to higher patient turnout The country’s leading medical institution Makati Medical Center

(MakatiMed, www.makatimed.net.ph) has increased the capacity of its Renal Care Services Unit to serve more patients who need high-quality, comprehensive, and safe dialysis services. The unit is located in Tower 2. According to MakatiMed, 14 dialysis bays have been added to its Renal Care facilities, now totaling 39. The expansion provides increased inpatient and outpatient dialysis treatments. Based on its latest available data, MakatiMed reported that patients availing outpatient treatment increased in 2020. To support this surge, the hospital utilized portable Reverse Osmosis (RO) machines that provide purified water for dialysis treatments and opened two more hemodialysis isolation rooms in its Covid-19 units.

3. Preparing for career moves. When volunteers gain and strengthen skills and meet more people, it can help them find new paid work by honing their social and job skills and expanding their professional contacts.

Especially if you’re unemployed or eager to get a new job, you may want to volunteer in ways that are more likely to fill gaps in your resume or help you network with people who can help advance your career. For example, you can learn leadership and governance skills by volunteering on a board of directors at your local food pantry and, at the same time, network with other board members.

Alternatively, you can volunteer for an organization in your field, whether it’s health care, child care or accounting, as a way of staying current and active while looking for work.

Including volunteer work on your resume can also signal to a prospective employer that you’re community-minded, self-motivated and willing to go above and beyond. As I often see with my students who volunteer, close relationships with nonprofit staff can lead to job referrals and glowing letters of recommendation.

4. Reducing some risks associated with aging.

Older people who engage in mentally stimulating leisure activities on a regular basis may have better memory and executive function than those who don’t, according to an analysis of related studies.

And because volunteers may need to tackle new problems, interact with clients and staff or drive to a new location, volunteering can be a highly stimulating leisure activity.

Volunteering can also help older people feel valued. For example, nonprofits can encourage older volunteers to become mentors—giving them a chance to impart what they’ve learned from their life and career experiences. THE CONVERSATION

f

VIRGO (Aug. 23-Sept. 22): The people you associate with will influence the way you think, feel and act. Choose your partners and friends based on how you play off one another and the outcome you achieve when you work side by side.

Romance is favored. HHHH

g

LIBRA (Sept. 23-Oct. 22): Use social settings to get to the bottom of sensitive issues. Make your point clear, but be willing to listen to the other side of the story. Making a fair assessment will encourage those you deal with to meet you halfway. HH

h

SCORPIO (Oct. 23-Nov. 21): Best to start on the right foot and be as precise and honest as possible. Persuasive charm will get you further ahead in your talks than false accusations. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Confusion will set in if you don’t openly and honestly discuss what concerns you. Offering a false impression or inconsistency regarding your feelings for someone will end up putting you in a precarious position. Face facts. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Focus on health, fitness and investing more time and money into personal gain. Bring passion into your life, nurture relationships and be willing to entertain trying unique concepts and different lifestyles. HHH

k

AQUARIUS (Jan. 20-Feb. 18): A realistic attitude will be helpful when it comes to responsibilities and doing your part. Sign up only for what you can handle and offer what you can afford. HHH

l

PISCES (Feb. 19-March 20): A creative approach to how you do things and the associates you align yourself with will encourage new and exciting ideas. A meaningful relationship with someone who shares your beliefs is favored. Love is in the stars. HHHHH Birthday Baby: You are wise, steady and motivated.

You are secretive and persuasive.

‘dig deeper’ by erica hsiung wojcik The Universal Crossword/Edited by David Steinberg

ACROSS 1 Angry 4 “___ the word!”

8 Cover up, as a gift 12 Like the coolest coffee?

14 Devoured, literally or figuratively 16 A bad argument might have one 17 Indian garment worn with a choli 18 Fit for a queen 19 Legendary 20 Pompous tyrant 22 Michigan, e.g., in Chicago: Abbr.

23 “Fancy” country singer 24 “Checkmate,” essentially 26 Entered gradually 28 Swarmed 32 German for “the” 33 Bottom-heavy fruit 34 First South American city to host the Olympics 35 “Time to kick my shoes off!”

39 Environmental activist Brockovich 40 ___ for the ride 42 Good bills for a vending machine 43 Scholarship funders

5 Got onto the ballot 4 46 “Yeah, I’ll pass” 47 Place for a pint 48 Perfectly clean 50 They make records 54 Desertlike 55 Start of many a French bistro name 56 Popular chat room platform, once 58 Parentheticals in a play 62 Cracker brand used for some casseroles 63 Get overwhelmed, so to speak 65 Nerve 66 Shawkat of Arrested Development 67 Person who never complains 68 “Ish” 69 Desserts eaten on 3/14 70 Dough for a deal?

71 Fresh DOWN 1 Light spray 2 Dark berry 3 Laura of Marriage Story 4 Notable New Orleans necklace 5 Intermountain West tribe

6 Big: Prefix 7 Smooth and charming 8 Question a college-bound senior might ask 9 Dragged (into) 10 “I was solving a crossword when it happened,” e.g.

11 Nut found in turtles 13 Certain frozen foods with crusts 15 Claim you had no idea 21 Queen Sugar channel 25 Actor ___ Patrick Harris 27 Frodo’s companion 28 “Mummified,” like a house 29 Savior 30 Prince’s “Purple ___” 31 Metaphorical opportunities 36 “This round’s ___” 37 Gendered fashion label?

38 Those, in Toledo 41 Cabbage type often used in kimchi 44 Word after “back”...or before “elbows” 49 “___ the Damn Season” (Taylor Swift song)

50 Extra piece 51 Stew often topped with sour cream 52 Fix, as laces 53 “Ish” 57 Bird on a Canadian coin 59 “Oh, shoot!”

60 If not 61 Poky 64 Cleverness Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, August 6, 2021

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Virtually covering the Games THE Philippines’ Hidilyn Diaz gestures on the podium as she listen to the national anthem after winning the gold medal in the women’s 55kg weightlifting event at the 2020 Tokyo Olympics. AP

NY report details CNN’s Chris Cuomo’s role advising brother NEW YORK—CNN anchor Chris Cuomo appeared to offer advice on a statement by his brother, New York Gov. Andrew Cuomo, addressing allegations of sexual harassment, according to a report issued on Tuesday.

The CNN prime-time personality testified to investigators looking into his older brother’s behavior.

His name appears four times in the 165-page report issued by New York Attorney General Letitia James as one of several outside advisers who were “regularly provided with confidential and often privileged information” that impacted the government despite having no “formal role, duty, or obligation to the State.”

The report’s appendix included a copy of an e-mail sent on February 27, 2021 by Chris Cuomo to his brother’s advisers on a suggested public statement that the governor never intended to offend anyone or cause harm with his behavior. It was not clear whether Chris Cuomo had composed the statement himself or was reacting to suggestions by others.

In the e-mail, it was suggested that Andrew Cuomo say that “sometimes I am playful and make jokes...My only desire is to add some levity and banter to what is a very serious business.”

CNN directed reporters to past statements it had made about Cuomo, and had no other immediate comment on Tuesday.

He made no mention of the story on his show Tuesday night. Still, a crawl running on the bottom of CNN’s screen detailed the story about his brother as he handed off to Don Lemon at 10 pm. Lemon made the charges against Gov. Cuomo his lead story.

Earlier this year, CNN said that Cuomo had acted inappropriately following a story in The Washington Post that he had participated in strategy calls with his brother’s advisers. The report issued by James on Tuesday accused the governor of sexually harassing 11 women inside and outside New York government.

Andrew Cuomo spokesman Rich Azzopardi described the group of advisers who met periodically as “people who have been with us for a long time who we could trust.”

In past statements, CNN has said that Chris Cuomo has not been involved in the network’s coverage of harassment allegations against his brother. The network covered James’ news conference releasing her report on Tuesday and discussed it extensively afterward. AP

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HERE is an interesting angle to the Olympics happening at present in Tokyo: the intense online streaming of the events.

Count some 20 years ago and news about the Olympics—the opening and closing ceremonies, the defeats and victories—came via the news bureaus and processed through newspapers. Outside these origins, there were free TV and radio.

At present, fans of the Olympiad are sourcing their videos and images of the events in Tokyo through the Internet in various social-media forms, like YouTube, Facebook and Twitter, plus streaming platforms.

The results are heightened presentations, with news reports accessing different timelines and viewers given the liberty and ability to deepen their understanding of what is happening right now in the Tokyo 2020 Olympics. Sometimes, there is too much liberty in handling the news about athletes and their sports. As with the advent of fake news, there is so much to be critical about vlogs and blogs, where sometimes the information is not anymore about the discipline of the athlete but the sordid background of how he or she got there in Tokyo in the first place.

There are value-added angles in the present mode of reporting. Years back, one watched the games from beginning till the end, say, from the initial preparation to the competitions. At present, one can view the competition and work back to find out how the winning athlete fared in the previous Games or qualifying rounds. And one does not have to do a bit of sleuthing; the algorithm provides the back story and predictive accounts.

A performance thus turns into a dense forest of experiences and apprehensions.

Given the availability of many data and information around an athlete and a particular game, annotators and emcees from established networks now are more circumspect about their narratives. In general, these sports journalists allow the audience to savor the “show;” rare now are those voices that over-annotate. There seems to be an unwritten rule for the traditional narration to leave a space for the viewers to think more about what he could do with the contour and texture of the game. And leave the gossip to vloggers.

Cultures and politics tend to play a great part in the storytelling happening on-screen.

Major broadcasting companies based in major countries would always shine their spotlight on the athletes from their own capital.

In the opening ceremonies, for example, it was obvious how there was no template to assure that each participating country would be given equal share of exposure. There were instances when a country, as its presence was being explained, was already out of camera range and another country was already hogging the camera and yet the descriptions about the country that had passed by continued on and on.

Which brings me to my issue: Was it the Filipino in me that got piqued during the opening rites? As

the Philippine contingent marched into view, it seemed no words could be summoned said about our team. Then the words briskly came out: “The Philippines holds the dubious record....” I could not comprehend anymore what followed next, which was how the Philippines had already won medals but gold remained elusive, because I found myself hanging on to the word “dubious.”

Not “interesting,” not “amusing” (still derogatory), not “unusual” but “dubious.” The word connotes an uncertainty but grooving towards the dark and negative. The word brings you into the domain of “shady” and “suspicious.”

But we survived that opening.

After nearly a hundred years not getting the gold, we could not but be confident about this batch of athletes. This time, they are breaking the bad spell, or curse? Oh, yes, the whole thing is getting to be more cosmic (the universe is against us) and personal (what is wrong with us?).

Then Hidilyn Diaz lifts that weight. She wins! She gets the gold! She breaks a record. And this is really terrifically Pinoy—Hidilyn beats China!

Well, the rest is not only history; the rest is cosmic and personal. The universe has listened to us. This winning is also about us.

Overnight, we all become weightlifters. Overnight, we start to bask in the sunshine of a woman’s winning.

The win has turned into a gender issue. The women across the aisle begin claiming supremacy over men.

It is as if weightlifting is not a game anymore but a

Sanya Lopez renews exclusive contract with GMA Versatile and well-loved GMA actress Sanya Lopez closed July by renewing her ties with GMA Artist Center in a contract-signing held on July 29.

There’s no question about Sanya’s passion and dedication to her craft. The 25-year-old star is now a household name through her notable roles in various projects, including the most recent hit GMA prime-time series First Yaya, where she won the hearts of Filipino viewers as the adorable Yaya Melody.

“I’m very, very happy. I didn’t expect na mangyayari ang lahat ng ito. Ang gusto ko lang noon ay basta may trabaho lang. Kahit hindi ako maging bida kasi alam ko naman kung gaano kahirap makapasok sa showbiz. Pero God gave me more than what I prayed for,” she said.

In addition, she promised her public and the network that she will remain grounded and continue to give her all in every project assigned to her: “Kung sino si Sanya noon ay same Sanya pa rin ang makikita nila ngayon na masayahin at patuloy na magpapasaya sa lahat ng mga sumusuporta sa kanya. Sa GMA, lagi kayong nakatatak dito sa puso ko dahil kayo ang nagbigay ng malaking break sa akin dito sa showbiz.

Mahal na mahal ko kayo.”

Present during the virtual signing ceremony were GMA executive vice president and CFO Felipe S. Yalong, GMA Films Inc. president and programming consultant to the chairman and CEO Atty. Annette Gozon-Valdes, senior vice president for GMA Entertainment Group Lilybeth G. Rasonable, first vice president and head of regional TV and synergy Oliver B. Amoroso, first vice president for drama productions Redgie A. Magno, vice president for corporate affairs and communications Angel Javier Cruz, senior assistant vice president for alternative productions Gigi Santiago-Lara,

senior assistant vice president for drama Cheryl Ching-Sy, GMA Artist Center assistant vice president and head for talent imaging and marketing unit Simoun Ferrer, GMA Artist Center consultant Johnny Manahan, GMA Artist Center senior talent

manager Tracy Garcia, and Sanya’s comanager Frank Mallari.

GMA chairman and CEO Atty. Felipe L. Gozon expressed his pride in having Sanya remain with the network: “Ako’y nagagalak na napili ni Sanya na manatili sa network sapagka’t siya ay isang homegrown artist at habang tumatagal ay lalong gumagaling. Sa napanood kong First Yaya, napatunayan din niya na siya ay isang versatile artist kaya sa tingin ko, malayo pa ang mararating ni Sanya sa larangan ng pag-aartista.”

Gozon-Valdes assured Sanya’s fans the network is committed to provide quality projects for her: “Sanya is a homegrown talent of GMA. I have seen her grow through the roles she has played, and I know that she has already captured the hearts of our viewers.”

Rasonable also shared how proud she is to witness Sanya’s growth: “Natatandaan ko, tuwing bibitbitin ka ni Kuya Germs [the late German Moreno, who discovered Sanya] papunta sa seventh floor papunta sa office ko. Talagang memorable ’yun sa amin sa Entertainment Group. Sobrang proud kami na naging part kami ng growth mo sa network at nabigyan namin ng magandang daan, through our programs, ang iyong career. And we are so proud of what you have achieved in the past years.”

Moreover, Mr. M promised the actress that GMA will always support and guide her in the years to come: “Sanya, katulad ng nasabi ng iba, congratulations sa iyo on the renewal of your contract. On behalf of the new GMA Artist Center, we wish to thank you for entrusting your career to us.

Sanya, you are a rising star now, belonging to a new breed of artists sa Artist Center. Ngayon nakatukod kami sa likod mo. We will take care of you kahit anong mangyari sa karera mo. And I’m sure kung nasaan man siya ngayon, nakangiti ng malaki si Kuya Germs.”

construct about relationships and equality.

Then, we realized it is not just Hidilyn who is there in Tokyo. There are the other athletes. Nesthy Petecio (boxing), Carlos Yulo (gymnastics) EJ Obiena (pole vault), Eumir Marcial, Carlo Paalam (boxing) and many more. Let us not forget the skateboard charmer, Margielyn Didal.

They are to us all medalists.

The games continue in Tokyo. Covid-19 cases have surged.

Hidilyn is back in the country, a rule being enforced in the Olympics. Once your event is done, you have to leave Japan. The pandemic is behind the urgency of this rule.

The news about Hidilyn continues. She is getting millions and, so far, except those whose affliction is to rain on other people’s parade, the nation is happy for her. We are happy because the China issue has seeped into the story of Hidilyn’s triumph. We love talking about this aspect of her victory.

We, however, cannot be just celebrating. We need to talk about other matters outside athletics. We are burdened so much by the pressure to prove to the world that we can be as good as them because we feel like these athletes, whose support from the government remains negligible. For every athlete bemoaning about the lack of concern from the country’s leaders is a Filipino desperate about the lack of action on the part of the government and the leaders to protect him from the deadly virus. In that arena, we cannot win any medal. n

Garth Brooks reassessing stadium tour because of Covid surge

NASHVILLE, Tennessee—Country star Garth Brooks said he will be reassessing whether to continue his stadium tour because of the rising number of Covid-19 cases.

In a statement issued on Tuesday, Brooks said he is still scheduled to play the next two shows scheduled in Kansas City and Lincoln, Nebraska, but will not put tickets on sale for the next planned stop, Seattle in September.

Brooks was already scheduled to take a threeweek break after the August 14 show in Nebraska and will take that time to assess what to do about the remainder of the dates in 2021. He is also scheduled to play Cincinnati; Charlotte, North Carolina; Baltimore and Boston.

“It breaks my heart to see city after city go on sale and then have to ask those sweet people and the venues to reschedule,” Brooks said in a statement.

“We have a three week window coming up where we, as a group, will assess the remainder of the stadium tour this year. It’s humbling to see people put this much faith in you as an artist, and it kills me to think I am letting them down.” Brooks, one of the biggest selling entertainers in music, restarted touring in July and regularly performs in front of 60,000 to 70,000 people per stadium. Many of his shows sell out well in advance. AP

B6 Friday, August 6, 2021

Call for entries for the PANAta Awards 2021 now open

Balibago Waterworks customers to enjoy wider payment options with Bayad

AT VIRTUAL partnership signing, from left: Mr. Francispito Quevedo, Senior Vice President and COO of Bayad, Ms. Cristina Isabelle , Senior Vice President of Balibago Waterworks System, Inc.,Mr. Lawrence Ferrer, CEO and President of Bayad, Mr. Mark Oliver Araullo, Vice President of Balibago Waterworks System, Inc.

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ALIBAGO Waterworks System, Inc. Group of Companies is now part of the country’s biggest and widest multi-channel payment platform operated by Bayad, the most trusted authority in payments.

In a recent partnership signing, Bayad and Balibago Waterworks formalized their mutual commitment to providing accessible and efficient payment options to clients nationwide.

Serving as a private water utility company operating in key provinces in Luzon, Visayas, and Mindanao, Balibago Waterworks connects over 250,000 households to reliable water services.

Balibago Waterworks Senior Vice President Cristina Isabelle Alejandro expressed that the partnership reflects its efforts in actively listening to their customers who have called for more convenient ways to pay. “Now is the time to introduce convenient payment options for all. With our mission to provide customers with reliable, safe,

and clean water, this is the next step in making Filipino lives easier.”

With over 50,000 payment touchpoints nationwide, Bayad is at the center of every community, making payments readily available for Balibago Waterworks customers. The service will soon be available via Bayad App and Bayad Online, making Balibago payments even more accessible to its customers. This rollout will not only make online payment possible, but also extend Balibago Waterworks’ reach to communities in various towns and provinces.

Bayad President and CEO Lawrence Y. Ferrer understands how vital this collaboration is, sharing that “Bayad is committed to providing Filipinos with efficient financial services for every sector of society. This partnership is here to empower communities with wider payment options amid the pandemic and we always provide our Tatak-Sigurado guarantee. It has been

Bayad’s cause to reward our hardworking Filipinos by making payments and other financial transactions easier and more convenient.” Mr. Ferrer also emphasized that for more than 20 years, Bayad has been the trusted partner of billing institutions in expanding their payment touchpoints rapidly, through Bayad’s huge network of payment touchpoints across the country, both physical and digital.

Through collaborations like this, Bayad illustrates the importance of championing both digital and physical channels to bring financial services closer to Filipinos, especially in developing municipalities outside Metro Manila.

To be part of Bayad's growing network of biller partners, contact billeronboarding@bayad.com or call +63 998 963-7880. Bayad provides innovative, cost-efficient, and endto-end payment solutions onsite and online. Fill out Bayad’s biller onboarding form to get started: https://link.bayad. com/BeABayadBiller

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ANATA Awards 2021, organized by the Philippine Association of National Advertisers (PANA), is the country’s prestigious awards giving body that celebrates excellence in effective and creative marketing communication campaigns. With this year’s theme, Hilaraya, the PANAta Awards 2021 hopes to convey to the industry the message of moving forward together with courage toward new realities.

“Our new realities may be uncertain, but we face the challenges that come with the new normal. Getting an unprecedented participation of entries last year was encouraging and awe-inspiring – proof that the brand-building community remains resilient and will continue coming up with out-of-thebox and impactful campaigns despite the hurdles of the times. This year, we continue to recognize creativity and innovation at its finest,” shares Ken Lerona, PANAta Awards 2021 chair.

The PANAta Brand Builder Awards highlight eight categories that focus on brand strategies which have effectively executed campaigns that impact the lives of consumers: Excellence in Marketing Innovation, Excellence in Brand CSR, Excellence in Brand Positioning, Excellence in Customer Empowerment, Most Promising Brand of the Year, Endorser of the Year Citations, Best Provincial Ads, and Brand Bravery.

In recognition of the platforms which carry the brands’ messages to the consumers, the Most Effective Use of Medium category was put in place. It recognizes the strategic and creative implementation of the specific medium that supported the brand’s business and consumer connection objectives. Categories include TV, Radio, Print and Digital.

Since the pandemic continues and brand builders are still groping for the right pivots to connect with their markets, the Gawad Pandayon will once again be awarded to the brand builders who stood as beacons of hope to address the changing consumer behavior and concerns and the unpredictable economic directions.

Meanwhile, the Gawad Pandayon award has three categories, namely: Gawad Pandayon-Courage, Gawad PandayonCreative Effectiveness, and Gawad PandayonAuthenticity.

Special awards include People's Choice Awards, Brand Builder of the Year, and WFA Best Brand Positioning Award to be judged by the World Federation of Advertisers (WFA).

And the grandest of them all is the GRAND PANAta Award. This award is given to the brand that has executed the most game-changing, innovative and effective strategy to achieve outstanding results while uplifting the values of the brand. Only those campaigns that have won GOLD in the Brand Builder Awards Categories are eligible to win the Grand PANAta. Applications are open to all advertisers, advertising agencies and suppliers, media agencies and suppliers, schools/school organizations, government agencies and nongovernment organizations legally registered in the Philippines.

Qualified entries are those that have been aired or used in any form of media from January 2020 – December 2020. For complete details, visit: https://pana.com.ph/panata-v2/ index.php or scan the QR code. Submission of entries is until Sept. 10, 2021. For inquiries, email alucero@pana.com.ph.

The PANAta Awards 2021 presentation ceremony is on December 8, 2020 via online streaming.

FDC kicks off ‘FilVax’ group-wide vaccination program for 15,000-strong employees and partners

Okada vaccinates employees, family members

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HE country’s leading integrated resort, Okada Manila, will offer free COVID-19 vaccines to its team members and qualified dependents starting this July 2021. The company aims to complete its vaccination rollout by the 4th quarter of 2021, in partnership with AC Health.

Dubbed “Vaxta sama-sama, panalo,” a continuing effort of the resort’s 3T Campaign, Okada Manila’s vaccination program aims to safeguard the health and well-being of the integrated resort’s more than 5,700 team members.

“Having our team members and their loved ones vaccinated won’t just keep them

safer from the threat of COVID 19, this will also give them some peace of mind during this unprecedented and unpredictable time,” Okada Manila President, Byron Yip, shares. “As frontliners of the hospitality and tourism industry, we want to give our team members the safest possible work environment.” Yip also adds that he hopes the program encourages other businesses and individuals to follow suit.

“More vaccinated individuals mean we can contribute to managing the number of COVID-19 cases in the country while also helping with restarting the economy.”

In addition to its employee vaccination plan, Okada Manila has

implemented well-being programs such as webinars for mental health, skill enhancement e-sessions, counselling services, and distribution of health kits.

To continuously keep its team members safe, the integrated resort also put in place industry-leading safety protocols in the property. IATF and DOT health and safety guidelines are also strictly observed.

To alleviate the challenges caused by the global health crisis, the integrated resort has also led COVID relief efforts by providing grants to the Philippine Red Cross, Philippine Lung Center, Heart Center of the Philippines, and various LGUs all throughout the country.

FILINVEST group aims to fully vaccinate its employees all over the country before 4Q this year through its Filvax Program.

Inspect the day one of vaccination were Muntinlupa City Mayor Jaime Fresnedi and Rizal Angela Reyes, VP HR & Corporate Admin Filinvest Land Inc. (Photo by NONIE REYES)

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ILINVEST Development Corporation (FDC) kicks off its group-wide vaccination program dubbed as "FilVax" with a ribbon-cutting ceremony August 4 at the Filinvest Mega Vaccination Center at the Festival Mall, Filinvest City, Muntinlupa. The event were led by Filinvest Land, Inc. (FLI) Director Francis Gotianun and EastWest Banking Corporation (EWB) Director Isabelle Gotianun Yap, with Muntinlupa City Mayor Jaime Fresnedi as the guest of honor.

FilVax aims to fully-vaccinate 100% of its 15,000 employees, drivers, messengers, utility workers, and security guards assigned to Filinvest properties and workspaces all over the country before the 4Q this year.

“FilVax is Filinvest Group's effort to support the government's vaccination program, as we continue to work hand-inhand towards a COVID-free Philippines.

We want to keep our employees, partners, workplaces, and properties safe and healthy for all. This is Filinvest’s top priority,” said Francis Gotianun.

The Filinvest Mega Vaccine Center at the Festival Mall is the venue for employees and partners of the Filinvest Group coming from Metro Manila, Laguna, Cavite, Rizal, Bulacan, and Pampanga. Similar vaccination

centers will be set-up in other locations to accommodate vaccinees from other parts of the country.

In partnership with the government, Filinvest Group has procured 100,000 doses of AstraZeneca's COVID-19 vaccine.

Filinvest will use the allocated doses for FilVax and for donation to local government units where Filinvest operates.

FilVax is the company’s latest addition to its #FIlFree #FilSafe program which covers a slew of initiatives, notably its digitization of processes and transactions, internal Safe at Work information campaign, regular employee COVID screening, and strict implementation of protocols across business touchpoints — all intended to promote health and safety among its employees, customers, and stakeholders.

Since the start of the pandemic, the Gotianun family-led FDC and its various foundations and subsidiaries have donated P100 million worth of COVID-19 test kits, PCR machines, ventilators, and personal protective equipment (PPE) for the frontliners and hospital workers. It also helped create the DOH/DOST National COVID-19 Tracker Dashboard that equipped key decision-makers with reliable case data.

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

The World

China sets restrictions as Delta reaches nearly half the country

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HINA imposed new travel and movement restrictions across the nation, including in its highly protected capital of Beijing, as a Delta-driven outbreak grew to over 500 symptomatic cases scattered across 15 provinces and municipalities.

Public transport and taxi services were curtailed in 144 of the worst hit areas nationwide, while officials curbed train service and subway usage in Beijing, where three new cases were reported on Wednesday. Hong Kong reimposed quarantine on travelers from the mainland, though an exception remained for the southern Guangdong province which neighbors the financial city.

Officials reported on Thursday 94 new local infections detected Wednesday, including 32 asymptomatic infections, adding to the country’s broadest Covid-19 threat since the pathogen first emerged in Wuhan in late 2019. Though 61 percent of the population has been vaccinated, China has stuck to its aggressive containment playbook

of mass testing and targeted lockdowns in a bid to stamp out the highly infectious variant.

In just two weeks, confirmed cases—people infected and sickened by the virus—have grown to more than 500. The infections can be traced back to three cluster areas in China: an outbreak among airport cleaning staff in eastern city Nanjing, another found at a hospital treating Covid patients in Zhengzhou and sporadic cases detected in Yunnan, the province bordering Myanmar.

Delta has spread to Wuhan, which has been virus-free since China contained the initial outbreak there early last year. The city has detected 12 cases as of August 3 and is currently testing its entire population of 12 million people.

Chinese authorities urged people to cancel business trips and vacations, while some colleges around the countr y have asked students, especially those from high-risk areas, to delay their return to school for the new semester. Bloomberg News

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Sydney’s outbreak hits record as state widens virus lockdown

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ydney reported a record number of new daily delta variant cases on Thursday, with authorities to enforce stay-at-home orders beyond Australia’s largest city as Covid-19 spreads north into other regions.

New South Wales state recorded 262 new cases, the vast majority in Sydney, which has been in lockdown for almost six weeks. Five more people died, and four of them weren’t vaccinated, Premier Gladys Berejiklian told reporters.

“Every jurisdiction around the world is finding Delta challenging,” Berejiklian said. “We can try and eliminate it but we know the vaccine is critical to stopping the spread.”

The outbreak’s spread means the Hunter Valley region—including Newcastle, a city of around

Wildfire reaches Turkey power plant, prompts evacuations

UGLA, Turkey—A coal-fueled power plant in southwest Turkey and nearby residential areas were being evacuated on Wednesday evening as flames from a wildfire reached the plant, a mayor and local reporters said as sirens from the plant could be heard blaring.

Milas Mayor Muhammet Tokat, from Turkey’s main opposition party, has been warning of the fire risks for the past two days for the Kemerkoy power plant in Mugla province. He said late Wednesday that the plant was being evacuated. Local reporters said the wildfires had also prompted the evacuation of the nearby seaside area of Oren.

Turkey’s defense ministry said it was evacuating people by sea as the fires neared the plant. The state broadcaster TRT said the flames had “jumped” to the plant. Strong winds were making the fires unpredictable.

Authorities have said safety precautions had been taken at the Kemerkoy power plant and its hydrogen tanks were emptied. TRT said flammable and explosive substances had been removed. The privately run plant uses lignite to generate electricity, according to its website.

Videos from the area showed bright orange, burning hills with power towers and lines crisscrossing the foreground.

Pro-government news channel A Hbr broadcasting live from near the evacuated power plant late Wednesday said firefighters were working inside the compound cooling equipment and dousing sparks in an effort to keep the fire away. The channel’s crew showed an incinerated police water cannon.

As the mayor announced the evacuation on Twitter, Turkey’s President Recep Tayyip Erdogan was speaking live on A Hbr and said the power plant was at risk of burning. Three ministers were there to oversee developments, he said, and added planes and helicopters had been there all day to fight the fires.

But the mayor said air support came infrequently and only focused on the closer flames around the plant rather than addressing the wider fires in the area that were being fanned by shifting winds. At night, air support was not possible at all and videos showed flames in the plant’s vicinity.

The wildfires have turned into yet another partisan issue in Turkey. Erdogan accused opposition party members of a “terror of lies” for criticizing Turkey’s lack of adequate aerial firefighting capabilities and inadequate preparedness for large-scale wildfires. The president said the municipalities were also responsible for protecting towns from fires and that responsibility did not fall on

Thursday, Friday,August August6, 6, 2021 2021

the central government alone but the mayors say they weren’t even invited to crisis coordination.

Firefighters have been trying to protect the power plant for the past two days. Along with police water cannons, they fought back the flames Tuesday night while other rescuers dug ditches around the Kemerkoy plant. Videos from an adjacent neighborhood in Milas showed charred, decimated trees.

Scorching heat, low humidity and strong winds have fed the fires, which so far have killed eight people and countless animals and destroyed forests in the past eight days. Villagers have had to evacuate their homes and livestock, while tourists have fled in boats and cars. In the seaside province of Mugla, where tourist hot spot Bodrum is located, seven fires continued Wednesday. In Antalya, at least two fires raged on and two neighborhoods had to be evacuated.

Officials say 167 fires had been brought under control and 16 continued in five provinces. Thousands of firefighters and civilians were working to douse the flames.

Foreign Minister Mevlut Cavusoglu said another firefighting plane and its staff would come from Azerbaijan on Thursday morning and 40 firetrucks would drive to Turkey to help with the fires. He announced four rented firefighting planes had landed and two from Israel would come Thursday.

Environmental groups and opposition lawmakers in Turkey have also been voicing fears that fire-damaged forests could lose their protected status.

Turkey’s parliament passed a law in July that gives the tourism ministry power to manage all aspects of new tourism centers, approved by the president, including in forests and on treasury lands for “public good,” taking away responsibilities from the ministries of environment and forestry. The law says these locations would be identified according to their tourism potential, considering the country’s natural, historic and cultural values.

Turkish officials, including Erdogan, have firmly rejected the speculation that the forests were in danger of construction and said the burned forests were protected by the constitution and would be reforested. While the exact acreage burned in the past week remains unclear, officials have promised the affected areas would not be transformed for other purposes.

Environmentalists were already protesting mining licenses issued for parts of some forests and trying to stop companies from cutting down trees. They have staged sit-ins across Turkey. AP

500,000 people—will be placed into a one-week lockdown later Thursday. Sydney’s stay-at-home orders will last until at least August 28, with authorities struggling to contain the highly contagious variant that leaked into the community in mid-June.

Australia’s federal government said last week the country would begin reopening and start to avoid snap lockdowns once 70 percent of the entire adult population had been fully vaccinated. Plans to reopen have been hampered by

a tardy vaccine rollout, with only enough doses to cover 25 percent of the population administered.

Clamping down

EVEN as other developed economies like the US and UK open up, Australia is further isolating after imposing strict border restrictions when the pandemic began early last year.

The slow vaccine drive—which has placed renewed criticism on Prime Minister Scott Morrison ahead of elections due by May—has made it particularly vulnerable to the Delta variant, which is increasingly leaking out of the quarantine system for international arrivals.

The lockdowns show the limits of Australia’s so-called “Covid-zero” strategy, which has relied on closed international borders and rigorous testing to eliminate community transmission of the virus. Its economy, particularly the domestic tourism and retail sectors, is increasingly being hit by the outbreaks.

Queensland state recorded

16 new cases in the community on Thursday, and it was unclear whether Brisbane and other regions there would exit lockdown as planned on Sunday. Eleven other infections were detected aboard a LNG tanker off the city of Gladstone, authorities said.

Victoria state, which includes Melbourne, recorded eight new cases from the day before, including three that are so far not linked to previous chains of infection.

Australia’s second-largest city has been forced into five lockdowns since the pandemic began.

“The whole rules of how the Covid-19 pandemic is playing out are changing and we need to change along the way,” Victoria Health Minister Martin Foley told reporters. “We started yesterday with no cases and 24 hours later we have at least three unlinked cases. That just goes to show that this pandemic is not over and that the situation we will continue to face is really significant.” Bloomberg News

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Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

B8 Friday, August 6, 2021

Aston Martin unveils its first-ever luxury SUV

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Story by Randy S. Peregrino

N Aston Martin’s illustrious 108-year history, the introduction of its first-ever luxury SUV, the DBX, is a bold new chapter and a landmark moment. Accordingly, it is a model that will propel the brand to new heights worldwide. This latest luxury SUV is the culmination of an extensive development program that began with physical testing in Wales last 2018 and virtual development stretching back to 2015.

The DBX signals a new era in Aston Martin’s pursuit to deliver exceptional performance, style, and usability in a segment previously unexplored by the world-famous manufacturer. Since its global release in 2019, the Philippines has been anticipating its arrival. So, DBPhils Motorsports, Inc., under the Tagle Group of Companies, is finally marking its territory with the arrival of this most-awaited luxury SUV. “We are confident that this move of Aston Martin will be warmly embraced by the Filipino market. Admittedly, we are an SUV nation— we love to cruise with our adventurous spirit and bring family, friends, and loved ones along for the ride. Aston Martin captures this passion and adds its trademark luxury and beauty for the ultimate driving experience,” said Marc Louie Y. Tagle, Chairman and president of Aston Martin Manila.

This beautiful SUV has already taken the company into new territories and inspiring directions through its development alone. Patrik Nilsson, Director of Operations for [the] Asia Pacific, is positive about the DBX’s retail performance. “In Asia Pacific countries that have commenced deliveries, including Singapore, Malaysia, Hong Kong, and further afield in USA, UK, China, and New Zealand, the DBX has already built strong market

The first-ever Aston Martin luxury SUV—the DBX. Photos by Aston Martin Manila

It drives like a sports car

share amongst the luxury SUVs. We’re proud to have [a] particularly strong market share right here in [the] Asia Pacific,” he said.

An SUV like no other

DBX’s exterior brought the elegance of Aston Martin’s sports cars into the world of the SUV. From the signature ‘DB’ grille at the front, sculptured sides, and design feature line, to the tailgate with a flip that draws inspiration from Vantage, this is an Aston Martin from a first glance. Other intricate details are hidden side glass seals on the frameless doors, glass B-pillar finishers, and cutaway sills to narrow the stepover.

Of course, aerodynamics was an essential consideration within the design process. Not to mention the process of running computational fluid dynamics (CFD) tests (with a DBX towing a trailer with a DB6 on it). At the front, the daytime running lights (DRLs) have an integrated aerodynamic duct, channeling air through the front wheel arches and along the side and cooling the brakes. Air flows cleanly over the roof, through the rear wing, over the back window, and onto the rear flip. The DBX utilizes bonded aluminum, a construction method Aston Martin has refined through the development of its sports

The luxuriously handcrafted cabin. cars. It makes the body structure both very light and incredibly stiff. As a result, curb weight went down to just 2,245kg.

Interior-wise, this full-sized five-seater SUV has a luxuriously handcrafted cabin providing equal space and comfort, front or rear. There is a full-length glass panoramic roof and frameless door glass, attracting natural light inside. The use of sports car seat packaging in the front provides exceptional support and driving comfort, including knee and footwell clearance to the rear. The seats have full-grain leather (sourced from longterm partner Bridge of Weir). An industry first, both the headlining and electric roof blinds are available in a luxurious Alcantara finish., Throughout, DBX maintains the authenticity of materials, with judicious use of metal, glass, and wood inside.

There are small touches such as separate

GR Yaris is here

I

T is really a wonder that Toyota keeps on unwrapping wondrous cars almost unstoppably, pandemic or no pandemic.

Its latest stunner is the GR Yaris, metamorphosing into a full-fledged sports car on the vision of Toyota Motor Corporation’s CEO Akio Toyoda.

May I give the floor once more to Nadinne Capistrano, one of the top writers of vice president Tini Arevalo of Toyota Motor Philippines: “GReatness is finally here. Born from the World Rally Championships and Toyota CEO Akio Toyoda’s passion to develop the Toyota sports car, the GR Yaris is built from the ground up to surpass standards in building ever-better cars.

“Toyota Gazoo Racing (TGR), Toyota’s performance development arm specializing in motorsports and development of everbetter cars, combined motorsports technology and design to develop the GR Yaris as a pure performance vehicle and a heart-racing daily driver.

“While regular motorsports cars are built from normal road production vehicles, the

central armrests, glovebox design, and the ergonomic positioning of the car’s key control systems. These elements stemmed from the brand’s Female Advisory Board input, dealership feedback, and various private focus groups held worldwide. Another design highlight includes the bridged center console. As part of ‘Q by Aston Martin’—Aston Martin’s personalization service - optional features of this center console has machined solid wood pieces, such as Walnut, for added tactility.

A 10.25” TFT screen sits elegantly flush in the center console, while a huge 12.3” TFT screen provides a wealth of information to the driver. Apple CarPlay comes as standard and a 360-degree camera system and ambient lighting that offers 64 different colors in two zones. With 632 liters of boot space and 40:20:40 split-folding rear seats, the DBX possesses flexible load capacity.

GR Yaris was built first as a motorsports vehicle then developed as a road vehicle.

It comes in six-speed manual transmission and is powered by a G16E-GTS 3-cylinder inline DOHC 4-valve roller rocker engine hailed as the ‘world’s best’ inline 3. The unique GR-Four 4-wheel drive system makes the GR Yaris competitive and rally-ready in any condition. The Philippine-spec GR Yaris comes with the High Performance/Circuit Package as standard.

“The GR Yaris is equipped with Toyota Safety Sense features (Pre-Collision System, Automatic High Beam, Lane Trace Assist, Adaptive Cruise Control), which aids the driver in identifying and eliminating factors that may cause accidents. A standard for Toyota vehicles, the GR Yaris also comes with 6 SRS airbags, Anti-lock Brake System, Vehicle Stability Control, and Hill-start Assist Control. Its Front and Rear Torsen Limited Slip Differential provides increased traction and improved stability for the vehicle.

“It retails at Php2.65M, with the 1.6L Turbo MT variant in 3 colors: Super White II, Emotional Red, and Precious Black. It will be available in Toyota’s 16 GR Performance dealers nationwide starting August 14, 2021.

For more details, visit toyota.com.ph.” wWhat would delight us next?

Petron cares

PETRON has come up with a one-stop shop carrying all its internationally-accredited mineral and fully-sy nthetic automotive

Powered by a new version of the characterful 4.0-liter, twin-turbocharged V-8 engine found in DB11 and Vantage, the DBX generates an impressive 542 hp and 700 N-m of maximum torque outputs. The engine’s versatility has cylinder deactivation to enhance fuel economy.

Still, it can sprint from zero to 100 km/h in just 4.5 seconds with a top speed of 291 km/h.

Transmitting power to all wheels is a ninespeed torque converter automatic gearbox, allied to an all-wheel-drive system with active differentials. It features an active central differential and an electronic rear limited-slip differential (eDiff). It allows the torque to be moved precisely both fore and aft in the vehicle and across the rear axle.

The adaptive triple volume air suspension works in conjunction with the latest 48v electric anti-roll control system (eARC) and electronic adaptive dampers to provide the new SUV with a considerable breadth of ability. The system can raise the ride height by 45mm or lower it by 50mm to tackle a wide range of terrain and aid with ingress, egress, and loading requirements.

The adaptive triple chamber air springs enable variable spring stiffness. Extraordinarily the eARC-capable of 1,400Nm of anti-roll force per axle—can limit DBX’s body roll for handling for that sports-car-like feel.

Aside from the standard safety features, driver-assist functions such as Adaptive Cruise Control, Speed Limiter, Forward Collision Warning, Auto Emergency Braking, Blind Spot Warning, Lane Keep Assist, Lane change Rear Cross Traffic Warning, Traffic Sign Recognition, and Door Exit Warning.

Additionally, there is the Pet package, which includes a portable washer to help attend to the needs of a muddy dog after a walk. As of this writing, the price tag of the DBX luxury SUV is still not available.

lubricants. Here’s Gadgets’ Christine Giray to tell us more: “Just like humans, our cars need to be hydrated, too, with essential fluids to keep them in tip-top shape and ensure their roadworthiness.

“The Petron Car Car Center serves as a one-stop shop for all automotive fluids like engine coolant, engine flush, transmission oil, clutch fluid, brake fluid, power steering fluid, manual transmission/differential gear oil, greases, and multi-purpose sprays.

“Services from light to heavy repairs are also provided, as well as tire assistance and wheel balancing/alignment, twin post lifters, aligners, a scissor lift, automatic transmission fluid exchanger, waste oil drain, and gear oil and grease dispenser.

“The CCCs offer a uniform Change-Oil packages from P999 to P4,399 for gas and diesel engines.

“There are now 46 Petron CCCs—11 in Metro Manila, 19 in Luzon and 16 in VisMin. For more details, visit https://www.petron.com/ wp-content/uploads/2021/03/List-of-PetronCCC-and-CCC-Express.pdf.”

PEE STOP Foton’s big gun Rommel Sytin saw it fit to gift weightlifting wonder Hidilyn Diaz of the 13-seater Foton van—the first golden act from the motoring industry. Simply commendable. For her golden feat in the Tokyo Olympics, Diaz, who also earned a lifetime PAL business class ticket among many other prizes, deserves nothing but the best. Cheers!