BusinessMirror December 06, 2023

PHL end-Oct debt rises to record ₧14.5B–BTr

By Jasper Emmanuel Y. Arcalas @jearcalas

T PHL PAVILION DENR Secretary Maria Antonia Yulo-Loyzaga, along with other members

of the Philippine delegation, presides over the inauguration of the national pavilion on the sidelines of COP28, the global climate summit ongoing in Dubai. Under the theme “Together Today for Tomorrow,” the Philippine Pavilion highlights the nation's efforts in addressing environmental and anthropological issues and challenges related to climate change. Story in A14, Second Front Page. CONTRIBUTED PHOTO

HE Philippines’s outstanding debt as of end-October rose to a record P14.48 trillion as the state borrowed more to bankroll its programs and projects worsened by depreciation of the country’s currency.

The Bureau of the Treasury (BTr) on Tuesday reported that the national government (NG) added P212.13 billion to its debt stock from the P14.268 trillion outstanding debt level in September.

The Treasury attributed the increase to “net issuance and availment of domestic and external loans as well as the revaluation of pesos depreciation against the US dollar.”

Of the total outstanding debt, the Treasury said 68.38 percent were domestic borrowings while the remaining 31.62 percent were from external sources.

Treasury data showed the country’s latest debt figure was 6.16 percent higher than the P13.641 trillion recorded in October of 2022.

The state’s end-October outstanding debt is already 99 percent of the economic managers’ projected P14.623-trillion debt by the end of this year.

The state’s end-October debt stood at P9.902 trillion, 5.85 percent over the P9.208 trillion recorded in the same month of last year. The amount was also 1.73 percent higher than the P9.734trillion domestic debt recorded in

September.

“Gross issuance of domestic debt for the month totaled P213.42 billion, while principal payments amounted to P45.68 billion, resulting in a net repayment of P167.75 billion,” the Treasury said.

“The effect of local currency depreciation against the US dollar on the debt stock valuation was minimal at only P0.23 billion. Year-to-date [YTD], domestic debt registered an increment of P693.95 billion or 7.54 percent,” the Treasury added.

External debt

MEANWHILE, the national government’s external debt as of endOctober reached P4.578 trillion, up from the amount recorded in September and in October 2022.

“NG external debt of P4.58 trillion is P44.15 billion or 0.97 percent higher from the previous month,” the Treasury said.

The national government’s external debt was 6.83 percent higher than the P4.285 trillion recorded external debt in October 2022.

The Treasury attributed the higher external to the state’s net availment of foreign loans as well as the weakening of peso.

The average foreign exchange rate against the US dollar in October was at P56.808 from P56.66 in September, based on Treasury data.

“For October, the increase in external debt was due to the See “Debt,” A2

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

Wednesday, December 6, 2023 Vol. 19 No. 56

NOV INFLATION SLOWS TO 4.1% BUT RISKS CITED n

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

By Cai U. Ordinario @caiordinario

I

NFLATION may have slowed in November, but local economists warned that higher rice prices as well as Christmas spending in December may keep commodity prices elevated.

On Tuesday, the Philippine Statistics Authority (PSA) disclosed that the country’s inflation slowed to 4.1 percent. This was slower than the 4.9 percent posted in October 2023 and 8 percent recorded in November 2022. (Full story here: https://businessmirror.com.ph /2023/12/05/ inf lation-slows-to-4-1-in-november-psa/) However, PSA data showed despite the slower headline inflation, certain commodities such as rice posted an inflation rate of 15.8 percent in November, higher than the 13.2 percent posted in October 2023 and the 3.1 percent posted in November 2022. “[This] clearly [shows that] the supply side issues hounding the rice industry remain serious,” Monetary Board Member Bruce J. Tolentino told BusinessMirror on Tuesday.

Based on the latest data, the three rice varieties being monitored by See “Inflation,” A2

QUIET STRUGGLE The solitary journey of a fisherman heading home after a night of fishing in Manila

Bay reflects the quiet struggles and resilience of those working to provide for their families. Recent data from the Philippine Statistics Authority, released on Monday, reveals a positive shift. The inflation rate for households in the bottom 30-percent income bracket slowed down to 4.9 percent in November from 5.3 percent in October. This translates to an average inflation rate of 6.9 percent for this income group from January to November, symbolizing potential improvements in the economic well-being of families. NONIE REYES

MANILA RECOGNIZED AS TOP CITY DESTINATION IN WORLD

By Ma. Stella F. Arnaldo @akosistellaBM

Special to the BusinessMirror

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HE Philippines added a few more feathers to its tourism cap, winning additional honors at the 30th Annual World Travel Awards held on December 1 in Dubai.

According to a post on WTA’s website, “The pristine beaches and reefs of the Philippines were recognized with awards for World’s Leading Dive Destination and World’s Leading Beach Destination.”

It is the second year in a row

the Philippines has won the recognition. For the first time, Manila was recognized as the World’s Leading City Destination 2023, edging out more globally popular and muchvisited destinations like Acapulco, Bogota, Cancun, Cape Town, Doha, Dubai, Hanoi, Hong Kong, Las Vegas, Lisbon, London, Lyon, Marrakech, Mazatian (Mexico), Melbourne, Miami Beach, Nairobi, New York, Porto, Queenstown, Quito, and Sydney.

The overall winner, chosen See “Manila,” A2

World Bank keeps PHL 5.6% GDP growth projection in ’23

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HE World Bank kept its 5.6-percent growth projection for the Philippines in 2023 even after the country’s economy showed a growth rebound in the third quarter, as it noted that household and government consumption will still propel growth in the fourth quarter to reach the forecast.

“We see that in the Philippines—the fourth quarter, always [gross domestic product] GDP gets a big, big boost from the holidays and we expect that that will be the same this year,” Ralph van Doorn, World Bank Senior Economist said at the Philippines Economic Update (PEU) on Tuesday.

Van Doorn said the WB’s projection of 5.6 percent “assumes that private or household consumption will continue to be boosting growth in the fourth quarter.”

“We also expect that the increase in the government consumption will continue in the fourth quarter so expect that those two are the main drivers to reach our growth projection,” the senior economist also noted.

According to the Philippine Statistics Authority (PSA), the economy posted a growth of 5.9 percent in the July to September period.

See “GDP,” A2

PESO EXCHANGE RATES n US 55.3200 n JAPAN 0.3758 n UK 69.8913 n HK 7.0780 n CHINA 7.7441 n SINGAPORE 41.3577 n AUSTRALIA 36.6163 n EU 59.9503 n KOREA 0.0423 n SAUDI ARABIA 14.7473 Source:

BSP (5 December 2023)

Wednesday, December 6, 2023

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BusinessMirror

Internet Transactions Act, infra PPP signed into law

By Samuel P. Medenilla @sam_medenilla

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RESIDENT Ferdinand R. Marcos Jr. has signed two landmark laws to strengthen public-private partnership (PPP) for infrastructure and boost the protection of digital consumers.

The chief executive signed Republic Act 11966 also known as the “Act Providing for the Public-Private Partnership (PPP) of the Philippines” as well as RA 11967 or the Internet Transactions Act of 2023 on Wednesday, while in isolation after testing for Covid-19 for the third time.

The cancelled signing ceremony for both pieces of legislation was

Manila. . .

Continued from A1

through online voting, was The Maldives, which picked up the award for World’s Leading Destination, while the Maldives Marketing & Public Relations Corp. was recognized as World’s Leading Tourist Board.

At the Burj Al Arab, where the awards were handed out during a gala ceremony, WTA founder Graham Cooke said, “Our World winners represent the pinnacle of tourism excellence, and I congratulate each and every one for helping to raise the collective benchmark to even greater heights.”

He added, “The diversity, the opportunities with sustainability, the beautiful beach resorts, and now the diving, amazing, the beaches, amazing [are reasons the Philippines has won these awards]. The main asset is the people, and that is something that a lot of countries in the world don’t have. And

supposed to be held in Malacañang on December 5, 2023.

RA 11966 aims to promote PPPs for infrastructures by establishing “a stable and predictable environment for collaboration between the public and private sectors.”

By integrating the government’s three-decade experience in implementing Build-Operate-Transfer (BOT) Law, the new Code is expected to mitigate risks for PPP projects.

National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan lauded the signing of the PPP Code, saying it will help the government meet its infrastructure requirements.

“With its implementation, the

government can harness PPPs to finance priority programs such as the Marcos Administration’s Infrastructure Flagship Projects [IFPs] and even social infrastructure in the education and health sectors,” Balisacan said in a statement.

He noted the new Code not only clarifies the ambiguities in the existing BOT Law, but also reduces transaction costs and improves the ease of doing business for PPPs. RA 11966 also promotes autonomy in implementing local PPP projects while ensuring alignment of local government unit (LGU) projects to national development plans, according to the NEDA chief.

To promote digital transactions,

the government also passed into law R A 11967 creating the Electronic Commerce Bureau (ECB) under the Department of Trade and Industry (DTI).

The ECB is tasked with protecting digital consumers and merchants by ensuring fair business practices and establishing “effective mechanisms for dispute resolution.”

As part of its mandate, it will implement the provisions of the RA 11967 as well as the Electronic Commerce Act of 2000, and the Philippine E-Commerce Roadmap.

Marcos said the two laws will help accelerate the country’s infrastructure development and efforts to have a thriving digital economy.

it’s the people of the Philippines that make your tourism assets the most amazing. The work ethic, the happiness, the smile, and the hospitality that the Philippines have are global icons.”

City of Dreams Manila won as World’s Leading Casino Resort, a title it has held every year since 2020, and was also recognized for the first time as the World’s Leading Fully Integrated Resort. In the regional category, the Philippines won as Asia’s Leading Dive Destination 2023, Amanpulo as Asia’s Leading Private Island Resort, and Ascott Makati as Asia’s Leading Serviced Apartments. Other tourism stakeholders and companies were likewise recognized in Philippines-specific categories. (https://rb.gy/brlurg)

Management Center (GTRCMC), a think tank founded and chaired by Jamaica’s Tourism Minister Edmund Bartlett in 2018.

GTRCMC was set up to aid tourism stakeholders worldwide to prepare for, manage, and recover from a crisis. The awards—which also recognized Qatar, The Maldives, and United Arab Emirates companies DP World and Dnata—were also handed out during the WTA gala ceremony.

According to the GTRCMC, the awardees have demonstrated global l e a d e r s h i p, p i o n e e r i n g v i s i o n , a n d innovation to overcome critical challenges and adversity. The Philippine was handpicked by Bartlett for having gradually transformed to a more proactive management of risks, and focusing on preparation and building up its resilience to disasters.

In a news statement, Tourism Secretary Christina Garcia Frasco said: “With these remarkable triumphs, the Philippines

reinforces its position as an unparalleled destination, inviting travelers to explore our captivating shores, vibrant underwater realms, and dynamic urban landscapes as they immerse in our culture and heritage, and create unforgettable memories with the distinct grace and hospitality of the Filipino people. We express our profound gratitude to all who have contributed to this success and we continue to dedicate our wholehearted support to all our tourism stakeholders.”

The World Travel Awards was established in 1993 to acknowledge excellence across all key sectors of the travel, tourism, and hospitality industries.

Tourism resilience

SEPARATELY, the Philippines was also one of the inaugural honorees of the Global Tourism Resilience Awards, which was initiated by the Global Tourism Resilience and Crisis

Debt. . .

Continued from A1

net availment of foreign loans amounting to P33.52 billion, and the P11.84 billion upward adjustment in valuation caused by peso depreciation against the US dollar,” the Treasury said.

“Favorable movement of third currencies tempered the increase by P1.21 billion. NG external debt has increased by P367.99 billion or 8.74 percent from the end-December 2022 level,” the Treasury added.

Michael L. Ricafort, Rizal Commercial Banking Corp.’s Chief Economist, said the national government’s outstanding debt could still reach new record highs “amid reduced or lower maturities of government bonds” this month until February of next year.

Ricafort added that the state would continue to borrow to finance its budget deficits despite the narrowing budget deficits in recent months.

“The new record high in the outstanding national government debt in recent months may be attributed to continued budget deficits amid higher prices/inflation that also bloated government expenditures, higher interest rates that raised borrowing costs of the government, weaker peso exchange rate vs. the US in recent years that increased the peso equivalent of the government’s foreign debts, continued increase in infrastructure spending,” he said.

The Philippines’s outstanding debt at the end of 2024 is projected to reach P15.841 trillion as the Marcos Jr. administration is set to borrow more money to bankroll the national government’s record-high P5.768-trillion budget for next year. (Related story: https://businessmirror.com. ph/2023/08/03/phl-outstanding-debtseen-rising-to-p15-84-trillion/)

GDP. . .

Continued from A1

This was faster than the 4.3-percent growth in the second quarter but slower than the 7.7 percent posted in the third quarter of last year.

The WB’s 5.6-percent growth projection is lower than the national government’s—the Development Budget Coordination Committee’s—growth target of 6 to 7 percent in 2023.

Over the medium term, the December

www.businessmirror.com.ph

Inflation. . .

Continued from A1

PSA showed higher rates in November compared to both the October 2023 and November 2022 rates.

Regular milled rice prices increased to P46.73 per kilo in November 2023, higher than the P45.42 per kilo in October 2023 and P39.57 per kilo in November last year.

Well-milled rice, meanwhile, averaged P51.99 per kilo in November 2023. This was also higher than the average of P51 per kilo in October 2023 and P43.86 per kilo in November 2022.

Special rice varieties also showed higher prices at an average of P61.47 per kilo. This is higher than the P60.95 per kilo in October 2023 and P53.53 per kilo in November 2022.

“Internationally, the India ban on certain rice varieties continues to hold, and there is no certainty when it will be lifted. Fertilizer prices are also elevated; note that fertilizer impacts have a lag through the planting cycle,” Tolentino said. “Domestically, while the Philippines has had a historically high harvest, there is a lot of suppressed demand.”

The elevated rice prices, Tolentino added, may also reflect the uncertainties in the government’s own policies when it comes to price control.

He said due to these uncertainties, farmers and traders decided to impose “tight control” on their inventories in case the government again decides to make sudden changes in policy such as imposing price controls. “[This can] still [be] explained by elevated world prices. The slight increase in the fourth quarter [will] not [be] enough to compensate for reduced importation because of expensive foreign rice. I expect inflation to hold steady or even decline slightly despite Christmas season,” Philippine Institute for Development Studies (PIDS) Senior Research Fellow Roehlano Briones told BusinessMirror.

University of Asia and the Pacific (UA&P) economist Victor A. Abola told this newspaper on Tuesday that the national government can opt to create government-to-government deals to ensure adequate rice supply, especially during the lean months.

These G2G deals, Abola said, can be done “in tandem with private rice importers.” He said this will be helpful since El Niño will likely hit the country in the first semester of 2024.

Abola expects inflation to increase to 4.2 percent in December but be below 3 percent in the first quarter of next year, due to base effects.

National Statistician Claire Dennis S. Mapa also admitted that base effects played a role in the inflation rate in November 2023.

It may be noted that inflation peaked in January 2023 at 8.7 percent. But inflation was also high at 8.1 percent in December 2022.

“Without El Niño, my model suggests 3.9 percent average for 2024. However, with El Nino, it will likely be higher even with government intervention,” Abola said.

“However, the rise in rice prices would be offset at least partially by weaker crude oil prices. The latter have eased despite the OPEC+ cuts, which were ‘voluntary’,”he added.

For his part, Manulife Investment Management and Trust Corporation Philippines Head of Equities Mark Canizares said rice and Christmas spending could pull up inflation.

Canizares noted that rice prices increased after the lifting of the cap imposed by the government, while the Christmas season is known for higher spending among households.

Board in December 2023, according to HSBC economist for Asean Aris Dacanay.

Dacanay said BSP may “stay pat” longer on account of slowing inflation. He said this will be supported by the need to “mind the gap” between the policy rates of the BSP and the US Federal Reserve.

“We only expect the BSP to begin its easing cycle right after the Fed does its first rate cut. Our baseline view is for the Fed to do its first policy rate cut in the third quarter of 2024,”Dacanay said.

Meanwhile, Bank of the Philippine Islands (BPI) economist Emilio S. Neri Jr. thinks it’s too early to expect rate cuts from the BSP. He said it was possible for the BSP to keep interest rates elevated in 2024.

This would be the case, given that inflation is expected to increase again in the second quarter of 2024, Neri said. Rate cuts would follow the movements of the US Federal Reserve.

“It might be difficult to cut interest rates without any rate cuts from the Fed given the substantial current account deficit of the country, which could lead to volatility in the exchange rate,” Neri said.

Meanwhile, Canizares said if inflation continues to trend lower, interest rate policies by the BSP will likely be kept stable. This means the country could also expect“a more progrowth monetary stance in 2024.”

“If interest rates fall, this is typically positive for capital markets such as Equities. Lower interest rates provide more room for corporates to expand and more propensity for consumers to spend, which will translate to higher economic growth and activity, potentially leading to a more robust equities market in 2024,” Canizares said.

Government efforts

GIVEN the slowdown in inflation, the BSP now has room to pause in the last Monetary

SECRETARY Arsenio M. Balisacan of the National Economic and Development Authority (Neda) said the government must keep monitoring the inflation situation in the face of continued price pressures from geopolitical tensions and extreme weather situations, further fueling uncertainty.

To ensure sufficient supply and stable prices of rice, the Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) subcommittee on food inflation has proposed to maintain the lower tariff rates on rice, corn and swine meat, Balisacan said.

At the same time, differentiated support must be provided to agricultural producers, depending how and when they will be affected

by El Niño. Measures to reduce transport and delivery costs are being undertaken as well.

Latest monitoring by the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) showed a strong El Niño is already present in the country and will intensify in the coming months until the second quarter of 2024. This could bring below-normal rainfall across the country and disrupt food production and energy generation.

Balisacan added that the Toll Regulatory Board and the Department of Agriculture, along with other agencies and tollway concessionaires, are finalizing the details for exempting agriculture delivery trucks from toll increases to mitigate energy- and fuel-related inflationary pressures.

Meanwhile, the Land Transportation Franchising and Regulatory Board has provided fuel subsidies to 166,598 public utility vehicles as of November 17.

To protect the most vulnerable sectors from high food prices, the Department of Social Welfare and Development launched the Walang Gutom 2027: Food Stamp Program, which provides monetary assistance to low-income households and allow them to purchase selected food commodities from eligible merchants.

2023 Philippine Economic Update report released by WB noted that an improvement in domestic demand is expected to drive a “modest” increase in growth to an average of 5.8 percent in 2024 to 2025.

“Services are expected to drive growth due to the ongoing recovery of the tourism sector and the consistent performance of the IT-BPO industry, which is likely to spur job creation, increase household incomes, and benefit consumption and tourism-adjacent industries,” the WB report said.

Meanwhile, WB also noted that a modest increase in global trade growth, along with increased growth in the East Asia and Pacific (EAP) region, would contribute to a “stronger” trade and manufacturing growth in 2024 to 2025.

“On the expenditure side, private consumption is expected to remain the main growth engine, supported by a robust labor market, steady remittance growth, and lower inflation,” the WB report noted.

Investment growth, it noted, is expected to slow in 2023, before picking up in 2024 to 2025, in part due to recent investment reforms and a commitment to public investment despite ongoing fiscal consolidation.

But according to Ndiamé Diop, World Bank Country Director for Brunei, Malaysia, the Philippines, and Thailand, although global growth is expected to rebound in 2024, “We do need to be mindful of the risks that the country needs to manage to sustain the growth momentum while protecting the poor and the vulnerable Potential escalation of geopolitical tensions could lead to additional food and energy supply shocks, placing additional pressures on inflation, which could keep interest rates higher for longer.”

Diop said the threat of weather-related shocks including the “growing episode” of El Niño may impact the domestic food supply, and push up prices.

“All these reasons mean that we need to continue managing the immediate challenges of inflation without losing sight of our long term development objectives and targets,” he also noted. Cai U. Ordinario

Monetary policy

Wednesday, December 6, 2023

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

FL Liza A. Marcos leads ‘Lab for All’ convoy in Palawan

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irst Lady Louise “Liza” A ra net a—Ma rcos, in partnership w ith the Provincial Government of Palawan and other national government agencies and private partners, led the “Lab for All” caravan on Tuesday at the PGP Convention Center inside the Provincial Capitol grounds.

The “Libreng Laboratoryo, Konsulta, at Gamot Para sa Lahat,” or Lab for All, is designed to bring free healthcare services to the communities. These services include medical and dental services and consultations, laboratory, eye check-up, distribution of medicines and eyeglasses and PhilHealth registration. Free legal advice and counseling are also given.

“It’s such a pleasure to be here. Palawan is truly known as the jewel of our country… the Lab for All is here to help in our own little ways through medical services and other government services. The Lab for All is giving and providing services for the well being of the Filipinos.

Sama-sama tayong babangon

muli para sa bagong Pilipinas,” First Lady Marcos said.

In his message, Palawan Governor Victorino Dennis M. Socrates echoed the Palaweños’ gratitude to the national government.

“Sa ngalan ng sambayanang Palaweño, pasalamatan natin ang ating First Lady Louise Araneta-Marcos at kanyang mga kasama sa programang ‘Lab for All’ sa serbisyong inyong ipinagkaloob sa aming lalawigan.”

A bout 3,0 0 0 i nd iv iduals benefitted from the free health-care services during the rollouts of the four-day Lab for All caravan in Palawan. Food packs and financial assistance were also provided by the Department of Social Welfare and Development (DSWD).

The caravan also ser ves a s venue for t he promo tion of the Department of Health ’s programs and services in line with President Ferdinand R. Marcos Jr.’s goal to establish a productive community by first creating a healthy community.

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BARMM chief minister presses resignation of Cabinet officials after deadly MSU blast

By Manuel T. Cayon @awimailbox

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AVAO CITY — The Office of the Chief Minister of the Bangsamoro government is pressing the filing of courtesy resignation letters of all Cabinet ministers and heads of offices under the Executive branch following a deadly blast at the Mindanao State University campus that left four persons dead and wounded scores of others.

Ahod B. Ebrahim, chairman of the Moro Islamic Liberation Front and the designated Chief Minister of t he Ba ngsa moro Autonomous Region in Muslim Mindanao (BARMM), issued on

Monday Memorandum Circular No. 189 directing his top-ranking officials to submit their courtesy resignation not later than Tuesday.

Ameen Andrew L. Alonto, executive director of the Bangsamoro Infor mation Of f ice, said there was “nothing unusua l ” or no one was surprised by the move, saying the issuance the directive was Ebrahim’s discretion or prerogative as the appointing authority imbued in the Chief Minister.

“It’s not something new. The Chief Minister only wanted to reassess [the performance] of his Cabinet,” Alonto said in a written reply to the query of BusinessMirror.

This was also explicit in the circular, which stated that “in order to give a free hand to the Chief Minister to reorganize his Cabinet and to further improve service delivery in the [BARMM], all appointed or designated Ministers and Heads of Offices of the Bangsamoro government are hereby directed to tender their unqualified courtesy resignations.”

Also, “it should be stressed that the ministers and heads of offices are aware of the nature of their appointments. Therefore, we can say they expected these scenarios,” Alonto added.

The circular dated December 1, however, could not be immediately linked to the bombing although Ebrahim visited the

MSU campus on Monday, along with Armed Forces Chief Gen. Romeo Brawner Jr. The memorandum was posted in the official website of the BARMM. Alonto said the fate of the officials concerned would all depend on the Chief Minister’s assessment. “As of now, nothing is official yet as to any changes in the Cabinet,” he added.

Alonto also dismissed insinuation that Ebrahim may have been dissatisfied by the officials’ performance, saying, “that is not what the Chief Minister is saying. Again, this was only to reassess the Cabinet, ensuring that we are all aligned with his Moral Governance agenda.”

Wreckage of missing Piper aircraft spotted in Isabela

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he wreckage of a general aviation Piper aircraft with tail number RPC 1234, which was missing since November 30, was finally located by a Philippine Air Force (PAF) W-3 “Sokol” search-and-rescue helicopter at the vicinity of Barangay Casala, San Mariano town, Isabela Tuesday morning.

In a statement, the PAF announced that the ill-fated aircraft

was located around 8:05 a.m.

“While the Sokol could not land, nor come close due to the strong winds and growing fog around the mountainous site, the aircrew were able to relay the exact location to ground forces for the continuous search on foot towards the aircraft’s exact location,” it added.

The aircraft took off from Cauyan Airport around 9:39 a.m. on November 30 and was supposed to

land in Palanan Airport at 10:23 a.m. of the same day.

“Tactical Operations Group 2, the PAF unit in charge of air operations in the area, has relayed that apart from the ‘Sokol’, a civilian R-44 aircraft of Lion Air helped in the search. Current ground search parties, on the other hand, are composed of personnel from the Philippine Army, PNP [Philippine National Police], BFP [Bureau of

Fire Protection], and MDRRMO [Municipal and Disaster Risk Reduction Office] units from Palanan, San Mariano and Divilacan with Dumagats as guide,” PAF said.

It added that its parajumpers and additional rescue helicopters from the 505th Search and Rescue Group for possible helirescue would be deployed for rescue operations, once weather permits.

Rex Anthony Naval

Wednesday, December 6, 2023

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Economy

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

Meralco sees cheaper Dec power rates amid steady supply and lower demand

By Lenie Lectura

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@llectura

HE Manila Electric Company (Meralco) is expecting power rates to go down this month brought about by steady supply and lower demand.

“Initial indications show a possibility of lower generation charge this coming December. We observed an improved supply situation due to lower demand and fewer plant outages, which are expected to bring down prices in the WESM (Wholesale Electricity Spot Market),” said Meralco spokesperson Joe Zaldarriaga.

Meralco is expected to announce December power rates in a few days.

WESM is a centralized venue for buyers and sellers to trade electricity as a commodity where prices are determined based on demand and supply. It was created pursuant to

Republic Act 9136, also known as the Electric Power Industry Reform Act (EPIRA) of 2001.

The WESM began commercial operations in Luzon in June 2006 in the Visayas in December 2010; and recently in Mindanao.

Last month, Meralco rates increased by P0.2347 per kilowatt hour (kWh) from October’s rate of P11.8198 per kWh. The upward adjustment was traced to higher transmission charge, which went up

by P0.211 per kWh for residential customers, due to higher ancillary service charges.

To better manage their electricity consumption, Meralco reminded the public to continue practicing energy efficiency.

Some energy saving tips that customers can practice includes unplugging appliances when not in use,

regular cleaning of air conditioner filters to optimize its use and using LED bulbs for cost-saving lighting.

Meralco customers can also have better control of their monthly electricity bills with the help of the Meralco mobile app appliance calculator that provides information on the energy consumption of appliances and gadgets.

Call for ‘sobriety’

THE Federation of Philippine Industries (FPI), meanwhile, expressed its full support to Meralco which has recently caught the ire of some lawmakers.

FPI Chairman Jesus Arranza, in a statement, called on all those attempting to disparage Meralco to put a stop to what he called as a very counter productive act. “The Federation laments this vicious at-

tack against one of its members.

This is not only counterproductive but against the principles of what we stand for, stability in the business environment,” he said.

Early this month several House members headed by Sta. Rosa Rep. Dan Fernandez waged a scathing attack against Meralco citing alleged violations primarily in its Weighted Average Cost of Capital (WACC).

“If the issue is WACC shouldn’t it be that the issue must be dealt with by the Energy Regulatory Commission since the rate setting function under the law is their responsibility and duty? Perhaps it is time to have a more sober discussion on this matter. We do not need moves that rattle business confidence especially in these very difficult times where industries and businesses need a stable environment,” Arranza said.

DTI finds ‘causal link’ between LPG steel cylinder import hike, injury to industry

By Andrea E. San Juan @andreasanjuan

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HE Department of Trade and Industry (DTI) said it is forwarding the case records of the petition for safeguard measures on the importation of LPG steel cylinder to the Tariff Commission (TC) as it established upon preliminary investigation that there is a link between increased imports of the products and serious injury to the domestic industry.

According to the Department Administrative Order (DAO) No. 23-04, which was signed by Trade and Industry Secretary Alfredo E. Pascual last November 29, 2023 but was published in two newspapers, including the BusinessMirror last December 4, the DTI, acting in accordance with Section 7 of Republic Act No. 8800 or the Safeguard Measures Act and on the basis of

evidence and submissions of interested parties, established after a preliminary investigation the existence of a “causal link” between the increased imports of the products under consideration and serious injury to the domestic industry.

“The increased volume of imports, both in absolute terms and relative to domestic production, was found to be the substantial cause of the overall impairment in the local industry,” the DAO 23-04 noted.

Further, the Order noted that pursuant to Section 8 of the Safeguard Measures Act, which provides, “In critical circumstances where a delay would cause damage which would be difficult to repair, and pursuant to a preliminary determination that increased imports are the substantial cause of serious injury to the domestic industry,” the DTI imposed a provisional safeguard measure in the

form of a cash bond equivalent to P2.18/kg on imported LPG steel cylinders while the case is under formal investigation by the TC for a period of 200 days from the date of issuance by the Bureau of Customs (BOC) of an order.

The petition for safeguard measures was filed by the LPG steel cylinder industry represented by Ferrotech Steel Corporation. The preliminary finding of the DTI noted that the period of investigation (POI) covers the import of LPG cylinders that enter the Philippine market from 2017 to 2021 and was updated to include imports in 2022 (January to December).

According to DTI’s safeguard measures case on the application of LPG cylinder industry, imports of LPG steel cylinders accounted for more than 13,000 metric tons (MT) in 2017 and declined to about 3 percent in 2018.

In the following year, the rate of increase grew by 24 percent over the 2018 level.

Imports “sharply increased” by 45 percent in 2020, the DTI case record noted.

In 2021, imports decreased by 13 percent but were still higher than the pre-surge level.

The most recent data available (Jan. to Dec. 2022) indicated that imports into the Philippines recorded at around 19,600 MT, slightly declined over the 2021 level but still higher than the pre- surge level.

“The increase in imports of LPG steel cylinders during the POI was both sharp and significant enough up to the most recent period,” the case record noted.

With this, DTI said the case records would then be transmitted to the TC for a formal investigation to determine whether there is a need to impose a definitive safeguard measure.

“It must be emphasized that a formal investigation by the Commission is wider in scope as it includes marathon public hearings to give all parties directly affected and such other interested parties the opportunity to be heard and to present evidence, including the opportunity to respond to the presentations of other parties and to submit their views,” the DTI’s decision noted in its report on the preliminary investigation on the application for safeguard measures on LPG steel cylinders from various countries.

Go extends livelihood assistance to displaced Victorias City workers

S

ENATOR Christopher “Bong” Go’s team, in coordination with Councilor Derek Palanca, brought relief to displaced workers in Victorias City, Negros Occidental last Friday, December 1.

In his video message, Go emphasized the importance of providing sufficient livelihood opportunities for the poor to ensure inclusive economic recovery.

The distribution activity was held at the Barangay 7 covered court where Go’s team handed out snacks, shirts, and balls for basketball and volleyball to 180 displaced workers.

The Department of Labor and Employment also conducted an orientation for those eligible for the Tulong Panghanapbuhay sa Ating Disadvantaged/ Displaced Workers program.

To further promote the welfare of Filipino workers affected by crises and ensure that those who reside in rural areas lacking job opportunities are taken care of, Go filed Senate Bill No. (SBN) 420, which seeks to offer temporary employment to eligible members of low-income rural households. Under the proposed legislation, the Rural Employment Assistance Program (REAP) would be created within the DOLE. If this bill is enacted into law, REAP’s primary objective would be to offer temporary job opportunities to individuals who meet the criteria for economic disadvantage, poverty, displacement, or seasonal employment.

Go, chairperson of the Senate Committee on Health and Demography, extended assistance to those with health concerns as he encouraged them to avail of the services of the Malasakit Center located at Corazon Locsin Montelibano Memorial Regional Hospital in Bacolod City if they need assistance with their hospital expenses.

Established in 2018, the Malasakit Centers are one-stop shops that consolidate various government medical assistance programs from various agencies such as the Department of Social Welfare and Development, the Department of Health (DOH), the Philippine Health Insurance Corporation, and the Philippine Charity Sweepstakes Office.

Go is the principal author and sponsor of Republic Act 11463 or the Malasakit Centers Act of 2019, which institutionalized the Malasakit Centers program. To date, 159 operational centers have helped more than ten million Filipinos nationwide, according to DOH. The senator is also dedicated to supporting the establishment of more Super Health Centers nationwide. Through the collective efforts of fellow lawmakers and local government units (LGUs), sufficient funds have been allocated for 307 Super Health Centers in 2022 and 322 Super Health Centers in 2023. DOH, the lead implementing agency, identifies strategic areas where these centers will be built.

House OKs road user tax on 2nd reading; ₧68.2B eyed Continued from A14

The proposed schedule categorizes vehicles based on their type and gross vehicle weight (GVW), providing a nuanced approach to taxation.

The tax schedule for passenger cars is delineated based on their

GVW. The proposed rates for the years 2023–2026 onward follow: up to 1,600 kilograms (kg) GVW— P2,080 in 2023; P2,560 in 2024; P3,040 in 2025; and 2026 onwards, a 5-percent increase.

For more than 1,600 kg up to 2,300 kg GVW—P4,680 in 2023; P5,760 in 2024; P6,840 in 2025; and

2026 onwards, a 5-percent increase.

For utility vehicles, the tax is determined by the GVW, and the rates for the years 2023–2026 onwards are structured as follows: up to 4,500 KG GVW—P10,400 in 2023; P12,800 in 2024; P15,200 in 2025; and 2026 onwards, a 5 percent increase.

The bill introduces a weightbased taxation approach for utility vehicles with a GVW of up to 4,500 kg. The rates are set per kilogram of GVW: P1.40 per kg of GVW in 2023; P2.50 per kg of GVW in 2024; P3.40 per kg of GVW in 2025; 2026 onwards: 5 percent increase.

Jovee Marie N. Dela Cruz

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

News BusinessMirror

Wednesday, December 6, 2023

BOI predicts more UAE investments to PHL in 2024 after IPPA ratification

By Andrea E. San Juan @andreasanjuan

W

ITH the ratification of an ag reement on investment promotion and protection with the United Arab Emirates (UAE), investments from the UAE to the Philippines may double by next year, according to the Board of Investments (BOI).

According to the BOI, Trade and Industry Secretary Alfredo E. Pascual, who also co-chairs the BOI, was able to secure from the Office of the President the Executive ratification of the Investment PromotionandReciprocalProtection

of Investments Agreement (PH-UAE IPPA) last November 29, 2023.

“The fact that we have already rat i f ied t he IPPA …it wou ld already significantly increase the investments coming from the UAE. Makikita natin ngayon, easily baka by next year dumoble ’yung investments natin coming from UAE,” BOI Managing Head Ceferino S. Rodolfo said during a media briefing on Monday held in Pasay City.

Data from the Department of Trade and Industr y (DTI) showed that Net Foreign Direct Investments from UAE to the Philippines reached $2.90 million in 2021 and $2.64 million in 2022.

BOI Gover nor Mar jor ie O.

R a mos - S a m a n ie go, t he le ad negotiator of the Philippines for the IPPA, noted that the investment agreement provides for a rules-based framework for the protection, promotion and facilitation of investments from both countries.

“T h e a g r e e m e n t , w h i c h provides for national and mostfavored-n at ion a nd fa i r a nd equitable treatment of investment, compensation for losses, guarantee against expropriation, and free transfers of capital, among others, was negotiated at the height of the pandemic with the full support from our Inter-agency Committee on Investments, namely, the Departments of Foreign Affairs,

Finance, Justice and the Bangko S e nt r a l n g P i l i p i n a s . T h i s demonstrates the firm resolve of both countries to bolster our economic ties,” Ramos-Samaniego explained.

She also underscored that the investment agreement “is one of those agreements that the large, serious investors really look upon before they w ill infuse their investments.”

For his part, Pascual said the implementation of the investment ag reement bet ween t he t wo nations will pave the way for the Philippines to be a “strategic hub” for investments from the Middle Eastern region, particularly for priority sectors, such as renewable

e n e r g y, e n e r g y e f f i c i e n c y tec hnolog ies, ag r ibusiness, infrastructure, innovation, and i n for m at ion tec h nolog y a nd business process management.

In a statement on Monday, the BOI said the Philippines is poised to benefit from the UAE’s expertise in various areas, as the UAE was able to transform its fishing and agriculture-based economy into an advanced and competitive economy over the past 50 years.

In 2022, the UAE was the Philippines’s 17th trading partner and was ranked 22nd in terms of net foreign direct investments into the country. The UAE is likewise the second-leading destination of overseas Filipino workers last year.

Strong showing in survey highlights military’s role in safeguarding nation

T

HE excellent rating shown by the Armed Forces of the Philippines (AFP) on OCTA Research’s “Tugon ng Masa” Third Quarter Survey highlights the public’s trust in the military’s role in safeguarding the country.

“We are humbled and pleased that the Armed Forces of the Philippines has attained high satisfaction ratings of +85 percent

in a recent survey conducted by OCTA Research. These outstanding r a t i n g s r e f l e c t t h e A F P ’s rema rk able accompl ishments and its indispensable role in safeguarding the nation,” AFP chief Gen. Romeo Brawner Jr. said in a statement Tuesday.

And while expressing their gratitude to all Filipinos, the AFP chief said that it is the military’s

privilege to serve the country and its people. “ We ex press our hear tfelt gratitude to the Filipino people for bestowing this recognition upon the AFP-DND [Department of National Defense]. It is our privilege to serve and protect the Fi lipino communit y, and we are honored by this vote of confidence,” Brawner said.

He a lso said that this “exceptional level of trust and satisfaction” could be largely attributed to the strong leadership and clear guidance provided by President Ferdinand R. Marcos Jr., who is also the Commanderin-Chief of the AFP. Brawner also stressed that Ma rcos’ com m it ment to t he defense and security of the nation

has been a driving force behind the AFP’s success.

“As a professional organization, the AFP remains dedicated to fulfilling its mandate of securing the sovereignty of the state and the integrity of the national territory.

We pledge to continue promoting peace, stability, and the well-being of our people,” he added.

Rex Anthony Naval

A5

Comelec reminds overseas Pinoys to register, cast vote in ’25 elections

T

By Patrick V. Miguel

HE Commission on Elections (Comelec) reminded overseas Filipinos on Tuesday to register to vote for the upcoming midterm polls in 2025.

The deadline for the voters’ registration is on September 30, 2024.

“A s of December 5, 2023, mayroon ka na lang 300 days para magpa-register bilang Overseas Voter [As of December 5, 2023, you only have 300 days to register as an Overseas Voter],” said Comelec in a Facebook post.

The poll body also reminded aspiring overseas voters to bring their Philippine passport at the nearest Philippine Embassy or the assigned registration center in the Philippines.

“Maaaring magparehistro upang makaboto sa 2025 National and Local Elections, magpa-update ng address at iba pang detalye, magcheck at magpa-reactivate ng voter registration status. [You can register to vote for the 2025 NLE, have your address and other personal details updates, and voter registration status checked and reactivated],” said Comelec.

The 2025 midterm elections are scheduled in the month of May, followed by the Barangay and Sangguniang Kabataan Elections (BSKE) in December that same year.

A6

BusinessMirror

Wednesday, December 6, 2023

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

7 PRIME TECH, INC. 10/f Ewestpod, Eton Westend Square, Yakal St. Cor. Don Chino Roces Ave., San Antonio, City Of Makati FAJAR HANGGAYUDHA MIYATANI Indonesian Speaking Customer Service Officer 1.

Brief Job Description: Manage large amount of calls, and handle customer concerns.

JIDAN MUAWAL ARDHANA Indonesian Speaking Customer Service Officer

2.

Brief Job Description: Manage large amount of calls, and handle customer concerns.

JOHN ENGLE PETRUS Indonesian Speaking Customer Service Officer

3.

Brief Job Description: Manage large amount of calls, and handle customer concerns.

RAFIE ALZAKY Indonesian Speaking Customer Service Officer

4.

Brief Job Description: Manage large amount of calls, and handle customer concerns.

Basic Qualification: Excellent in reading, writing and speaking in foreign language.

5.

6.

Brief Job Description: Assisting director in planning and prioritizing task.

CHEN, YU-JEN Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

Basic Qualification: Excellent in reading, writing and speaking in foreign language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language.

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

Basic Qualification: Can speak Mandarin language.

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Can speak Mandarin language.

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

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1, Pioneer St., Barangka Ilaya, City Of Mandaluyong TUSHAR Infra Managed Service Sr Manager 7.

Brief Job Description: Manage and operate infrastructure and operations in line with service and experience level agreements.

GABRIELA ELLIS SUMAMPOUW Procure To Pay Operations Analyst 8.

Brief Job Description: Perform validation and data entry of the document details according to existing policies.

Basic Qualification: Requires identifying and assessing complex problems for area(s) of responsibility.

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Accounting or Business Administration Graduate.

Experienced with accounting ERP - SAP. Salary Range: Php 30,000 - Php 59,999

ALL ASIA AIR CENTRAL, INC. Unit 4a & 5a Bldg. 4, Salem Complex Bldg. Domestic Rd., Barangay 191, Pasay City

MANAMI, NAOHISA Assistant General Manager 9.

Brief Job Description: Support the general manager to manage the school and assist from project planning to staff management.

Basic Qualification: Excellent in written and spoken Nihongo and English languages. Open to multitasking.

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

ALTERA KARNA BUSINESS CORP. 5th, 6th, 7th Flrs. Eighty-one Newport Blvd., Newport City St., Barangay 183, Pasay City

10.

KHOO SEW FUNG Customer Service Representative (Chinese Speaking) Brief Job Description: Provide customer service to clients.

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

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

11.

LAURINDO MACHADO, RODRIGO Customer Service Representative (Chinese Speaking) Brief Job Description: Provide customer service to clients.

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

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

12.

LYU, FEI Customer Service Representative (Chinese Speaking) Brief Job Description: Provide customer service to clients.

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

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

13.

QIN, XUAN Customer Service Representative (Chinese Speaking) Brief Job Description: Provide customer service to clients.

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

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

14.

WANG, QINLONG Customer Service Representative (Chinese Speaking) Brief Job Description: Provide customer service to clients.

YEO ANN TAI Customer Service Representative (Chinese Speaking) Brief Job Description: Provide customer service to clients.

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

AB LEISURE EXPONENT, INC. 5/f Sm Megamall Bldg. D, J Vargas, Wack-wack Greenhills, City Of Mandaluyong HO, SENG ON Mandarin Assistant Director

15.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

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

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Any nationality who can speak and write Chinese language fluently. Detailoriented and has the ability to multi-task. Preferably 6 months to 1-year customer service experience.

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CAI, YONGCAN Project Coordinator

31.

Brief Job Description: The primary function of a project coordinator is to make sure projects run smoothly. Coordinating project schedules, resources, equipment and information.

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

AM-PRO IMPORTS MARKETING CORP. 16e Residenza Suites, 429 Shaw Blvd., Addition Hills, City Of Mandaluyong Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive WANG, CHUITAN environment. Good Chinese Marketing Specialist communication and interpersonal skills. Able Brief Job Description: 16. to speak and communicate Chinese Marketing Specialists develop and execute using Mandarin language is effective marketing strategies to promote products or an advantage. Must be an services. aggressive salesperson.

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

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D., Macapagal Blvd. Cor. Aseana Street, Tambo, City Of Parañaque Basic Qualification: HUANG, ZHIBIN Able to speak, read and Chinese Customer Service Representative write Chinese and Malaysian languages.

17.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: AHMED, SHARJEEL Able to speak, read and Customer Service Representative write Chinese and Malaysian languages.

18.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: GALHENA GAMARALALAGE, THARUKA SHEHAN BANDARA Able to speak, read and Customer Service Representative write Chinese and Malaysian languages.

19.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: SHAKIB, KAZI MAHMOOD Able to speak, read and write Customer Service Representative Chinese and Bangladeshi languages.

20.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CHEA CHI WEI Able to speak, read and Malaysian Customer Service Representative write Chinese and Malaysian languages.

21.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: ONG MING WEI Able to speak, read and Malaysian Customer Service Representative write Chinese and Malaysian languages.

22.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: HOANG, TRUNG KET Able to speak, read and Vietnamese Customer Service Representative write Chinese and Malaysian languages.

23.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: HOANG, VAN HUNG Able to speak, read and Vietnamese Customer Service Representative write Chinese and Malaysian languages.

24.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: NGUYEN THE LIEM Able to speak, read and Vietnamese Customer Service Representative write Chinese and Malaysian languages.

25.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: NGUYEN THI SANG Able to speak, read and Vietnamese Customer Service Representative write Chinese and Malaysian languages.

26.

Brief Job Description: Managing incoming calls and customer service inquiries.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: SAN, THANH DUNG Able to speak, read and write Vietnamese Customer Service Representative Chinese and Vietnamese languages.

27.

Brief Job Description: Managing incoming calls and customer service inquires.

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

28.

TRAN ANH TU Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries.

Basic Qualification: Able to speak, read and write Chinese and Vietnamese languages.

29.

Brief Job Description: Discussing and establishing qualification requirements and terms and conditions of employment with managers.

Formulating detailed job descriptions and job postings.

Conducting phone calls or meetings to create a shortlist of qualified candidates.

Basic Qualification: Highschool level. Excellent communication skills, particularly in ChineseMandarin language.

30.

Brief Job Description: The primary function of a project coordinator is to make sure projects run smoothly. Coordinating project schedules, resources, equipment and information.

33.

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

Brief Job Description: The primary function of a project coordinator is to make sure projects run smoothly. Coordinating project schedules, resources, equipment and information.

Basic Qualification: Must be willing to attend meeting, sales events and trainings to keep abreast of the latest developments.

Must be willing to work on field.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be willing to attend meeting, sales events and trainings to keep abreast of the latest developments.

Must be willing to work on field.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be willing to attend meeting, sales events and trainings to keep abreast of the latest developments.

Must be willing to work on field.

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

CEBU AIR, INC. Cebu Pacific Bldg., Domestic Rd, Barangay 191, Pasay City 34.

CHUNG, TAEKSUNG Pilot

Basic Qualification: Licensed pilot.

Brief Job Description: Operates a commercial flight.

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

CONCENTRIX CVG PHILIPPINES, INC. 25/f Ayala North Exchange, Tower 2, 6796, Ayala Ave. Cor. Salcedo & Amorsolo Streets, City Of Makati EBAI, VIOLET TAKANG Advisor I, Technical Support 35.

Brief Job Description: Assist external users of the client’s technical products or services, identify, investigate, research, and provide resolution to user questions and problems. Troubleshoot basic and routine customer issues that are technical in nature.

Basic Qualification: Can read, write, speak French or Portuguese language.

Strong computer navigation skills and PC knowledge.

Skilled in multi-tasking, including the ability to be flexible and adapt to changes quickly.

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

DIGICHROM INC. Unit 2001-a, 2602 & 2603 20/f & 26/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

36.

LUC CAO CUONG Vietnamese Speaking Customer Service Representative Brief Job Description: Manage incoming and outgoing calls, chats and emails.

Basic Qualification: Proficient in speaking, reading and writing in Vietnamese language.

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

DRAGONFLY TECHNOLOGIES INC. Unit 602 6/f Itc Bldg., 337 Sen. Gil Puyat Ave., Bel-air, City Of Makati ZENG, CHAOWEI Mandarin Support Specialist 37.

Brief Job Description: Prioritizing your workload to ensure the most critical issues are resolve first.

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

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

EASY GO TRAVEL AND TOURS INC. G/f King’s Court 2 Bldg., 2129 Chino Roces Ave., Pio Del Pilar, City Of Makati GONG, XIUZHU International Relations Officer 38.

Brief Job Description: Handle customer inquiries via all media channels supported for both inbound and outbound calls. Ensure that customer requests are completed timely and accurately.

Basic Qualification: College graduate. Fluent in English and ChineseMandarin languages.

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

EASYTECH SUPPORT INC. 9-11/f, 14/f Capella Bldg., Asean Drive Filinvest, Alabang, City Of Muntinlupa LUU VAN TOAN Vietnamese Speaking Customer Service Representative 39.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

NGU NHUT TIEN Vietnamese Speaking Customer Service Representative

40.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

PHAM THI HANG Vietnamese Speaking Customer Service Representative

41.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

TSAN DUC AI Vietnamese Speaking Customer Service Representative

42.

Brief Job Description: Responding to Vietnamese customer queries via email, live chat, video, phone, and social media channels.

Basic Qualification: Proficient in speaking Vietnamese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking Vietnamese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking Vietnamese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking Vietnamese language.

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

FLYING DRAGON NETWORK PHILIPPINES INC. Malate Bayview Mansion, 1781 M. Adriatico Street. 076, Barangay 699, Malate, City Of Manila

43.

44.

Basic Qualification: Must be willing to attend meeting, sales events and trainings to keep abreast of the latest developments.

Must be willing to work on field.

Brief Job Description: The primary function of a project coordinator is to make sure projects run smoothly. Coordinating project schedules, resources, equipment and information.

ZHENG, SHUAI Project Coordinator

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

C’EST LA VIE EVENT MANAGEMENT INC. 230, Narra Street, Marikina Heights, City Of Marikina AN, XIAOLU Project Coordinator

32.

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

BETCONSULT INTERNATIONAL CONSULTING, INC. 50/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a Rufino St., Bel-air, City Of Makati BI, YANLING Recruitment Specialist

VO THI THOM Project Coordinator

QUALIFICATION AND SALARY RANGE

45.

BUI THI HONG NHUNG Chinese Customer Service Brief Job Description: Assisting clients by providing information on services.

HOANG THI CHUYEN Chinese Customer Service Brief Job Description: Assisting clients by providing information on services.

HU, YONG Chinese Customer Service Brief Job Description: Assisting clients by providing information on services.

Basic Qualification: Fluent in verbal and written Mandarin and English languages.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in verbal and written Mandarin and English languages.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in verbal and written Mandarin and English languages.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

46.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TIAN, XIAOHUI Chinese Customer Service Brief Job Description: Assisting clients by providing information on services.

QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent in verbal and written Mandarin and English languages.

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

FRESENIUS MEDICAL CARE SOLUTIONS SERVICES (PHILIPPINES), INC. 9/f Filinvest One Bldg., Northgate Cyberzone, Filinvest, Alabang, City Of Muntinlupa Basic Qualification: College graduate. With JULIANA TO at least 1 year of work Financial Specialist experience in the field of Finance and Accounting.

47.

Brief Job Description: Proficient in BahasaExecutes day-to-day accounts payable activities such as Indonesia language. processing and/or data entry with customer-focused mindset directed by the respective process lead.

Salary Range: Php 60,000 - Php 89,999 GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati Basic Qualification: Proficient in speaking, ZHANG, WEI-CHENG reading and writing in Chinese Customer Service Representative English language and their respective native language 48.

Brief Job Description: for the position applied for.

Attracts potential customers by answering product and Fluent in Chinese Mandarin service questions and suggesting information about other language is an advantage. products and services.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, LE THUY HONG NGOC reading and writing in Vietnamese Customer Service Representative English language and their respective native language 49.

Brief Job Description: for the position applied for.

Attracts potential customers by answering product and Fluent in Chinese Mandarin service questions and suggesting information about other language is an advantage. products and services.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, MA THUY NGUYEN reading and writing in Vietnamese Customer Service Representative English language and their respective native language 50.

Brief Job Description: for the position applied for.

Attracts potential customers by answering product and Fluent in Chinese Mandarin service questions and suggesting information about other language is an advantage. products and services.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, NGUYEN NGOC PHUONG TRINH reading and writing in Vietnamese Customer Service Representative English language and their respective native language 51.

Brief Job Description: for the position applied for.

Attracts potential customers by answering product and Fluent in Chinese Mandarin service questions and suggesting information about other language is an advantage. products and services.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, NGUYEN THI GIANG reading and writing in Vietnamese Customer Service Representative English language and their respective native language 52.

Brief Job Description: for the position applied for.

Attracts potential customers by answering product and Fluent in Chinese Mandarin service questions and suggesting information about other language is an advantage. products and services.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, NGUYEN THI LAN VI reading and writing in Vietnamese Customer Service Representative English language and their respective native language 53.

Brief Job Description: for the position applied for.

Attracts potential customers by answering product and Fluent in Chinese Mandarin service questions and suggesting information about other language is an advantage. products and services.

Salary Range: Php 30,000 - Php 59,999 NGUYEN THI LE HUYEN Vietnamese Customer Service Representative 54.

Brief Job Description: Attracts potential customers by answering product and service questions and suggesting information about other products and services.

TRAN PHUOC DUNG Vietnamese Customer Service Representative 55.

Brief Job Description: Attracts potential customers by answering product and service questions and suggesting information about other products and services.

TRAN TICH KY Vietnamese Customer Service Representative 56.

Brief Job Description: Attracts potential customers by answering product and service questions and suggesting information about other products and services.

TRUONG Y NHI Vietnamese Customer Service Representative 57.

Brief Job Description: Attracts potential customers by answering product and service questions and suggesting information about other products and services.

Basic Qualification: Proficient in speaking, reading and writing in English language and their respective native language for the position applied for.

Fluent in Chinese Mandarin language is an advantage.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English language and their respective native language for the position applied for.

Fluent in Chinese Mandarin language is an advantage.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English language and their respective native language for the position applied for.

Fluent in Chinese Mandarin language is an advantage.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English language and their respective native language for the position applied for.

Fluent in Chinese Mandarin language is an advantage.

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

GOLDEN CHINA KITCHEN SEAFOOD RESTAURANT INC. Seascape Village, Ccp Complex Bldg., Zoilo St. Cor. Atang Dela Rama St., Barangay 76, Pasay City ZHANG, CAIFENG Traditional Guangdong Culinary Adviser 58.

Brief Job Description: Constantly ensure the dishes conform to the tradition and customers of Guangdong Cuisine and maintains its artistic appeal. Assist in preparing and cooking of Guangdong Cuisine.

Basic Qualification: College graduate.

Knowledgeable in English language and in Mandarin, Fukien and other Chinese language dialects.

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

GOLDEN OCEAN CONSTRUCTION SERVICES INC. 1715 G/f Amd Tower F., Agoncillo Street, Barangay 694, Malate, City Of Manila FU, CHUANBIN Supervisor 59.

Brief Job Description: Maintains project administration in a correct and timely manner.

No.

Basic Qualification: At least 2 years of work experience in the mentioned position and fluent in English and Mandarin language.

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

HI-SEAS CO. LTD. INC. 8th Floor Jd Tower, Commerce Avenue, Mbp, Alabang, City Of Muntinlupa

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TANG, GANG Project Coordinator

60.

Brief Job Description: Recommend daily deployment, collection of output report per FTTH cabling and splicing material monitoring, distribution and control, material reconciliation and return, material purchase for local source, BOQ reconciliation, site supervision function and support.

HOSTING NXTGEN (PH) INC. 4/f Iacademy Plaza, 324 Sen. Gil Puyat Ave., Bel-air, City Of Makati PAUL SUMARTA Indonesian Language - Support Manager 61.

Brief Job Description: Lead the team to ensure the clients receive assistance with the technical aspects of products or services. Lead customer support teams.

Wednesday, December 6, 2023

A7

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate. With at least 3 years of work experience in Telecom construction industry. With strong communications, inter-personal, organizational and multi-tasking skills.

Proficient in using MS Office applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate. Fluent in English and BahasaIndonesia languages. Can work under pressure.

No.

LANG XUAN NGHIA Vietnamese Customer Support Representative 78.

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

NGUYEN THI VY Vietnamese Customer Support Representative

79.

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

NGUYEN, HUU QUYNH LOAN Vietnamese Customer Support Representative

80.

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

INFOMERGE SERVICES INC. Unit 5-a 5th Floor Hollywood Square Building, 33 West Avenue, District 1, Nayong Kanluran, Quezon City Basic Qualification: BOCHUKOV, NIKOLAY ILIANOV Must be College Graduate Marketing Consultant or College Level. Knowledge of regulating requirements Brief Job Description: or standards for Accounts/ 62.

Works as an independent consultant or as part of a Clients. consultancy firm to provide marketing expertise to clients with standard.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: CHERTKOV, ROI Must be College Graduate Marketing Consultant or College Level. Knowledge of regulating requirements Brief Job Description: or standards for Accounts/ 63.

Works as an independent consultant or as part of a Clients. consultancy firm to provide marketing expertise to clients with standard.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: DESSAUER, SIMON LEON Must be College Graduate Marketing Consultant or College Level. Knowledge of regulating requirements Brief Job Description: or standards for Accounts/ 64.

Works as an independent consultant or as part of a Clients. consultancy firm to provide marketing expertise to clients with standard.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: SAID, SHARBEL Must be College Graduate Marketing Consultant or College Level. Knowledge of regulating requirements Brief Job Description: or standards for Accounts/ 65.

Works as an independent consultant or as part of a Clients. consultancy firm to provide marketing expertise to clients with standard.

Salary Range: Php 60,000 - Php 89,999 INVECH TREASURE PROCESSING CORPORATION 2nd, 3rd, 4th & 5th Floor Building E, Six West Campus, Le Grand Avenue, Mckinley Hill, Fort Bonifacio, City Of Taguig Basic Qualification: FRANSISCA Able to speak and write in Indonesian Customer Support Representative Indonesian language and at least college level with 66.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: JUNG, CHANG LIM Able to speak and write in Korean Customer Support Representative Korean language and at least college level with related 67.

Brief Job Description: BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: YANG, JIA Able to speak and write in Korean Customer Support Specialist Korean language and at least college level with related 68.

Brief Job Description: BPO experience.

Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CHANG, JINFAN Able to speak and write in Mandarin Customer Support Representative Mandarin language and at least college level with 69.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CHEN, SHAOPING Able to speak and write in Mandarin Customer Support Representative Mandarin language and at least college level with 70.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CHEN, WANTIAN Able to speak and write in Mandarin Customer Support Representative Mandarin language and at least college level with 71.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: SUN, XIAONAN Able to speak and write in Mandarin Customer Support Representative Mandarin language and at least college level with 72.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: LU, JIAKUN Able to speak and write in Mandarin Customer Support Specialist Mandarin language and at least college level with 73.

Brief Job Description: related BPO experience.

Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: WU, MIN Able to speak and write in Mandarin Customer Support Specialist Mandarin language and at least college level with 74.

Brief Job Description: related BPO experience.

Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: YU, XIAOLIANG Able to speak and write in Mandarin Customer Support Specialist Mandarin language and at least college level with 75.

Brief Job Description: related BPO experience.

Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: YUAN, ZHONGWEI Able to speak and write in Mandarin Customer Support Specialist Mandarin language and at least college level with 76.

Brief Job Description: related BPO experience.

Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: ZHANG, DONG Able to speak and write in Mandarin Customer Support Specialist Mandarin language and at least college level with 77.

Brief Job Description: related BPO experience.

Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

UNG CHI THANH Vietnamese Customer Support Representative

81.

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

KHONG THI UT THUONG Vietnamese Customer Support Specialist

82.

Brief Job Description: Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

NGUYEN THI THUONG Vietnamese Customer Support Specialist

83.

Brief Job Description: Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak and write in Vietnamese language 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 Vietnamese language 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 Vietnamese language 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 Vietnamese language 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 Vietnamese language 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 Vietnamese language and at least college level with related BPO experience.

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

JTI GBS PHILIPPINES, INC. 14th And 17th Floor - Office A, Ten West Campus Building, Le Grand Avenue, Fort Bonifacio, City Of Taguig EDWARDS, MICHAEL JAMES Basic Qualification: General Manager - Global Business Services College graduate. With at least 5 years of managerial Brief Job Description: experience in a related 84.

Responsible for providing consistent, effective and industry. efficient transactional processing services to customers in full compliance with JTI governance framework.

Salary Range: Operational Management Service Delivery.

Php 150,000 - Php 499,999 KNW TECHNOLOGY INC. 103 Equinox Plaza, Sierra Madre, Highway Hills, City Of Mandaluyong NINH VIET NAM Customer Service Representative - Vietnamese Speaking 85.

Brief Job Description: Administering and receiving customer surveys on occasion.

TRAN DINH HUAN Customer Service Representative - Vietnamese Speaking

86.

Brief Job Description: Administering and receiving customer surveys on occasion.

Basic Qualification: At least college graduate and Vietnamese language speaking.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college graduate and Vietnamese language speaking.

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

LEIGHTON CONTRACTORS (ASIA) LIMITED 12th Flr Menarco Tower, 32nd Street,, Bonifacio Global City, Fort Bonifacio, City Of Taguig Basic Qualification: O’NEILL, PAUL STEPHEN Minimum of 10 years Senior Commercial Manager of relevant experience in Railway Projects.

Brief Job Description: Minimum of 25 years of civil Responsible for providing a high level of contracting 87. engineering project based support such as managing and controlling the commercial commercial experience. aspect of the project, ensuring effective implementation of commercial framework, processes, subcontract Salary Range: administration, commercial risk analysis & opportunities.

Php 500,000 and above MCP BUSINESS CONSULTANCY INC. 207b 2nd Floor, 409 A. Soriano Ave., Barangay 656, Intramuros, City Of Manila KE, LIANQING Assistant Consultant 88.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

LYU, LI Assistant Consultant

89.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

WANG, WEIZHEN Assistant Consultant

90.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

HUANG, JIATAO Assistant Supervisor

91.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

WANG, JIA Financial Consultant

92.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

WANG, ZHENNAN Financial Consultant

93.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

LI, JINLONG International Consultant

94.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

LIU, XUHONG International Consultant

95.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

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

BusinessMirror

Wednesday, December 6, 2023

A6 A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHEN, JINXIANG Management Consultant

96.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

CHEN, WENBIN Management Consultant

97.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

LIN, RONGYI Management Consultant

98.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

SU, JIANHUI Management Consultant

99.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

DAI, JIEHUI Marketing Specialist

100.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

WANG, BINGYI Marketing Specialist

101.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

CHEN, SHUANG Operation Supervisor

102.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

FU, CHANGJUN Operation Supervisor

103.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

HE, MEIFENG Operation Supervisor

104.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

HUANG, GONGSHUN Operation Supervisor

105.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

WANG, BINGZHANG Operation Supervisor

106.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

107.

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

WANG, HONGBO Chinese Customer Service

108.

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

ZHANG, KUNFAN Chinese Customer Service

109.

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

SA-NGUANWAI, SURAPAT Customer Service Representative

110.

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

SAI AUNG HLA Myanmar Customer Service

111.

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

THANT ZIN AUNG Myanmar Customer Service

112.

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

PHAN, NGOC SU Vietnamese Customer Service

113.

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

114.

Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

CHEN, LINGLING Business System Analyst 115.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

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

Basic Qualification: College Graduate. Preferably 1 year work experience in the same field. Speaks and write in their native language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1 year work experience in the same field. Speaks and write in their native language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1 year work experience in the same field. Speaks and write in their native language.

116.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1 year work experience in the same field. Speaks and write in their native language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1 year work experience in the same field. Speaks and write in their native language.

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

NOONA BUSINESS CONSULTING SERVICES INC. 10th & 31st Floor Ore Central Tower, 9th Ave. Cor. 31st St., Bonifacio Global City, Fort Bonifacio, City Of Taguig

Brief Job Description: Addressing customer concerns and issues thru phone call and email.

LAN, ZHIPING Chinese Supervisor 117.

Brief Job Description: Responsible for managing the workflow and training new hires on how they best serve customers and teams of employees.

ZENG, XING Chinese Supervisor

118.

Basic Qualification: College graduate, at least 1-2 years of working experience in the related field, and fluent in Chinese/basic English language.

Brief Job Description: Responsible for managing the workflow and training new hires on how they best serve customers and teams of employees.

SHIOMI, TAKUMA General Manager - Technical Service Department 119.

Brief Job Description: Provide technical service for project execution. Provide support to the Sales and Marketing Department on the technical side during negotiation of project order.

120.

Brief Job Description: Drives delivery of the order management/fulfillment.

Support customer retention. Enhance LSEG’s brand values by managing multiple teams at multiple location.

131.

121.

122.

Brief Job Description: Maintains customer records by updating account info.

ZENG, QIN Mandarin Customer Service Brief Job Description: Maintains customer records by updating account info

123.

Brief Job Description: Assistance to management to communicate despite of language barrier.

124.

Brief Job Description: Respond to customer queries in a timely and accurate way via phone and email.

Basic Qualification: Proven experience as supervisor or relevant role.

Familiarity with company policies and legal guidelines of the field.

125.

Brief Job Description: Develops software solution by studying information needs, studying systems flow, data usage and work processes, investigating problem areas following the software development cycle.

PHONG QUAY LIN Vietnamese Marketing Specialist 126.

Brief Job Description: Conduct market research to find answers about consumer requirements, habits and trends.

Basic Qualification: Proven experience as supervisor or relevant role.

Familiarity with company policies and legal guidelines of the field.

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

Basic Qualification: Masters in Architecture graduate. With at least 5 years of work experience in construction and technical projects. Fluent in Japanese language.

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

Basic Qualification: Holder of a Bachelor’s degree in Commerce. With extensive and varied experience in customer support functions with in-depth knowledge of technical discipline or specialism.

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

Basic Qualification: Can speak Mandarin language.

Brief Job Description: Maintain the quality of customer service provided by the team.

AN, YOUNGWOONG Bilingual Marketing Operations Specialist

128.

Brief Job Description: Analyze data, assess trends and determine actions to optimize performance.

TRAN, THI TRUNG THU Bilingual Marketing Operations Specialist

129.

Brief Job Description: Analyze data, assess trends and determine actions to optimize performance.

JUNG, YOUNGMOON Foreign Marketing Operations Team Leader

130.

Brief Job Description: Analyze data, assess trends and determine actions to optimize performance.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A bachelor’s degree in construction, business, engineering, or related field. Bachelor’s degree programs in constructionrelated major often include courses in project control and management, design, construction methods and materials, and cost estimation.

133.

Brief Job Description: Plan, coordinate, and manage every aspect of a building project from start to finish.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate. With previous work experience in the construction/project management industry.

XIONG, FENG Construction Manager 134.

Brief Job Description: Overseeing all the logistics of a construction project.

Creating work schedules for your team, and allocating responsibilities.

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

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati NGUYEN THI PHUONG DUNG Bilingual Support Service 135.

Brief Job Description: Provide support services across technology programs and projects.

SARAH CHRISTIE Indonesian Language Marketing Staff

136.

Brief Job Description: Conducting marketing activities. Create promotion of products and services offered by the company and track their success.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking Vietnamese language.

Brief Job Description: Conducting marketing activities. Create promotion of products and services offered by the company and track their success.

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

HUYNH GIA HUY Vietnamese Language Marketing Staff 138.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking Bahasa language.

CHE NHAT QUANG Vietnamese Language Marketing Staff 137.

Basic Qualification: Proficient in speaking English and Vietnamese languages.

Basic Qualification: Proficient in speaking Vietnamese language.

Brief Job Description: Conducting marketing activities. Create promotion of products and services offered by the company and track their success.

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

YOUBIN CONSULTANCY INC. 7c Westgate Tower Condominium, Investment Drive, Mbp Ayala, Alabang, City Of Muntinlupa Basic Qualification: With relative work experience.

DU, HAOMENG Chinese Consultant

Basic Qualification: Can speak Mandarin language.

139.

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

YUKI SERVICE CORP. Unit 1206, 12th Floor Trade And Financial Tower, 7th Avenue And 32nd Street Bgc, Fort Bonifacio, City Of Taguig

Basic Qualification: Fluent in Chinese language and in English language.

Bachelor’s degree holder and knowledge in IT is preferred.

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

Basic Qualification: Fluent in Mandarin, Indian, Nihongo, and English languages.

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

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin language is an advantage.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin language is an advantage.

TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati

127.

Brief Job Description: Overseeing all the logistics of a construction project.

Creating work schedules for your team, and allocating responsibilities.

LI, YIHANG Construction Manager

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

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

NG JOEY Bilingual HR Manager

Basic Qualification: College graduate. With previous work experience in the construction/project management industry.

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

TIAN XIA TECHNOLOGIES INTERNATIONAL, INC. 6/f Filinvest Cyberzone Bldg. B, Superblock A Central Business Park 1 Bay City St., Barangay 76, Pasay City TANG, BO-YAO Chinese Software Engineer

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

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

SKYWAY AIRLINES INC. Unit 209 2/f Salud Dizon Building, 5 Mia Road Corner P. Mayuga St., Tambo, City Of Parañaque LUO, HAOWEN Multilingual Customer Support Specialist

Brief Job Description: Maintaining relationships with existing VIP accounts through phone calls and business meetings.

EE KIAN HWA Construction Manager 132.

SHINY DIAMOND MIND CORPORATION Unit 515 5/f Cityland Condominium 10 Tower 1, 156 H.v. Dela Costa St., Bel-air, City Of Makati LI, BO Multilingual Interpreter

Basic Qualification: College graduate. With at least 6 months of relevant work experience in a similar capacity.

WAYSEER CONSTRUCTION INC. 333 Juan Luna St., Unit 801 State Centre Bldg., Barangay 287, Binondo, City Of Manila

Basic Qualification: Customer service representative.

SEAGULL-WORLD INC. 24/f Philamlife Tower, 8767 Paseo De Roxas, Bel-air, City Of Makati QIAN, CHENG Mandarin Customer Service

QUALIFICATION AND SALARY RANGE

GAO QIANG Representative

REFINITIV ASIA PTE. LTD. - PHILIPPINE BRANCH Ground Floor, 18/20 Building Upper Mckinley Hill, Fort Bonifacio, City Of Taguig VARADARAJAN, KARTHIKEYAN Director, Order Management, APAC

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

UNI-SHIP, INC. 3rd Flr Fcj Bldg, Realt St, Barangay 658, Intramuros, City Of Manila

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

PNS ADVANCED STEEL TECHNOLOGY, INC. (PNS-ASTECH) 9/f & 10/f Salcedo Towers, 169 H.v. Dela Costa St., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1 year work experience in the same field. Speaks and write in their native language.

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

No.

PHILIPPINE KAIHEN MECHANICAL AND ELECTRICAL CORP. 528, Madrid Cor Lara Sts, Barangay 284, San Nicolas, City Of Manila

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1 year work experience in the same field. Speaks and write in their native language.

Brief Job Description: Oversee the analysis and development of a company’s business operations. These highly analytical specialists have both business and technical expertise. Duties include analyzing requirements, estimating the cost, and establishing system protocols.

CHEN, NINI Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

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

PARTRIDGE TECHNOLOGIES INC. 1466 Gen. Luna St., 073, Barangay 673, Paco, City Of Manila

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

Brief Job Description: Delivery of relevant HR administrative or operational activities.

QUALIFICATION AND SALARY RANGE

OCEAN AIRE HOTEL CORPORATION (GOLDEN PHOENIX HOTEL MANILA) Unit No. L7d Cbp, Oceanaire Bldg., Ltd. Cbp. D. Macapagal Blvd., Barangay 76, Pasay City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management.

Excellent communication skill, verbal or written.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHANG, YU-AN a.k.a. STEVEN CHANG Mandarin Human Resource Officer

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

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Sapphire Seaview Park, Pacific Avenue, Don Galo, City Of Parañaque SU, DONGMIN Chinese Customer Service

No.

www.businessmirror.com.ph

Basic Qualification: Excellent in bilingual languages.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in bilingual languages.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in bilingual languages.

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

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

Brief Job Description: Provides professional and knowledgeable consultation.

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

SHI, YUPENG Records Supervisor 140.

Brief Job Description: Safekeep records by utilizing the applicant’s experience in Microsoft Office suite programs, electronic health records system and other relevant databases. Maintenance of records in English and Chinese-Mandarin languages.

Basic Qualification: College graduate. Fluent in Chinese-Mandarin and English languages.

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

ZAPPORT SERVICES, INC. Unit Aro1-03 B,c,m,n,o,p,q 28th/f & 14/f U-c, B, Ar03, Ar02, Q,p,o,g,h,i,j01,02,03, K&l, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati ALDO Indonesian-speaking Customer Service Officer 141.

Brief Job Description: Writing Indonesian reports on the daily operation of call center activities, performing customer-oriented telephone activities and various background operation duties.

Basic Qualification: Fluent in Indonesian language.

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

ZIMI TECH, INC. 11/f Robinsons Jg Summit Center, 6783 Ayala Avenue, Bel-air, City Of Makati BAE, YUNKYUNG Korean Language Customer Service Representative 142.

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

Basic Qualification: Proficient in writing, reading, and speaking in both English and Korean/Bahasa/ Chinese/Vietnamese/ Malaysian/Cambodian languages.

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

ZTE PHILIPPINES INC. Unit 29 Fort Legend Tower, 3rd Avenue Corner 31st, Bonifacio Global City, Fort Bonifacio, City Of Taguig SHI, CHUAN Sales Director 143.

Brief Job Description: Manage ZTE projects related to Energy, Transport and Edgepoint. Responsible in managing the Energy Opportunity with ZTE partners.

Basic Qualification: College graduate. With excellent communication skills, particularly in ChineseMandarin language.

Salary Range: Php 30,000 - Php 59,999 *Date Generated: Dec 5, 2023

In the ad material of Notice of Filing of Application for Alien Employment Permits published on December 2, 2023, the name CHOU, CHIEN-A under the company FIRST COMMERCIAL BANK, LTD., MANILA BRANCH, should have been read as CHOU, CHIEN-AN and not as published.

In the ad material of Notice of Filing of Application for Alien Employment Permits published on December 5, 2023, the position of MATSUO, TOMOYUKI under the company ACADEMY FOR THE INTERNATIONAL COMMUNITY IN ASIA - AICA INC., should have been read as CHIEF MARKETING AND STRATEGY OFFICER AND DIRECTOR 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 National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

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

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

TheWorld BusinessMirror

Wednesday, December 6, 2023

A9

To phase out or phase down fossil fuels?

That’s the question at COP28 climate talks

By Seth Borenstein & Sibi Arasu

D

The Associated Press

UBAI, United Arab Emirates— After days of shaving off the edges of key warming issues, climate negotiators Tuesday zeroed in on the tough job of dealing with the main cause of what’s overheating the planet: fossil fuels.

As scientists, activists and United Nations officials repeatedly detailed how the world needs to phase-out the use of coal, oil and natural gas, the United Arab Emirates-hosted conference opened “energy transition day” with a session headlined by top officials of two oil companies.

Negotiators produced a new draft of what’s expected to be the core document of the UN talks, something called the Global Stocktake, but it had so many possibilities in its 24-pages that it didn’t give too much of a hint of what will be agreed upon when the session ends next week. Whatever

is adopted has to be agreed on by consensus so it has to be near unanimous.

“The central issue of this COP, the global stocktake, is to reach a conclusion about the phasing out of fossil fuels,” said climate scientist Bill Hare, CEO of Climate Analytics. “And unless we do that, I doubt whether we’re going to see an improvement in temperature.”

The discussions on the global stocktake makes the climate talks in Dubai “a moment of reflection,” said World Resources Institute international climate action director David Waskow. “It spotlights whether we are doing enough to

Al Gore, former US vice president, speaks to The Associated Press at the COP28 UN Climate Summit on Sunday, December 3, 2023, in Dubai, United Arab Emirates. AP/KAMRAN JEBREILI

Gore blasts COP28 climate chief and oil firms’ emissions pledges at UN summit

By Seth Borenstein AP Science Writer

D

UBAI, United Arab Emirates—Don’t trust the oil and gas industry to report their actual carbon pollution, said former US Vice President Al Gore, who added that the man leading the United Nations climate talks runs one of the “dirtiest” oil companies out there.

“They’re much better at capturing politicians than they are at capturing emissions,” Gore told The Associated Press in a sit-down interview.

The Nobel Prize-winning climate activist, author and filmmaker blasted Sultan al-Jaber, the president of the United Nations climate talks, who is also president of the national oil company of the host nation, United Arab Emirates. Gore said al-Jaber’s Abu Dhabi National Oil Co. is “one of the largest and one of the dirtiest, by many measures, oil companies in the world.”

Gore can make these claims because he just released a massive update of the Climate TRACE database of emissions that he helped create. It tracks carbon pollution from every nation and city across the globe with 352 million pieces of information.

Looking at the data released Sunday, Gore said, “the No. 1 surprise was how far off the reporting from the oil and gas industry is. And we see it here in the United Arab Emirates, you know, nice folks. But the numbers they put out are just not right. And we can prove they’re not right.”

In a one-hour data-heavy presentation at the UN conference, Gore said: “The Abu Dhabi National Oil Company still claims to have no emissions from methane or

anything else from the transport of oil and gas. Well, actually, they do. We can see them from space.”

“Why can we see the leakage from space if there are no leakages? Well, these were self-reported emissions,” Gore said. Then showing his data: “And this is the actual emissions. And these are the emissions last year here.”

In his interview, Gore repeatedly took aim at al-Jaber being picked by the UAE to chair the climate conference. As summit host, the local government chooses the president of the talks.

“He’s a nice guy. He’s a smart guy. I’ve known him for years. But he has a direct conflict of interest,” Gore said. “And this isn’t some kind of nitpicking complaint. This goes to the heart of whether or not the world is going to have the ability to make intelligent decisions about humanity’s future.”

Gore said “his main job is the head of the oil company. And honestly, when I look at the massive expansion plan that they have to increase their production of oil, 50 percent, increase their production of gas” when the climate conference ends, he asked, “do you take us for his fools?”

In a rare, combative and brief press conference Monday, al-Jaber defended his record and the idea of bringing oil companies into the efforts to curb climate change.

“They’ve stepped up,” al-Jaber said of oil industry colleagues. “Is it enough? No.” In previous comments, al-Jaber’s colleagues have dismissed media coverage detailing ADNOC’s expansion plans. The company in 2019 announced plans to expand to 5 million barrels per day.

Al-Jaber made a splash in the beginning

A PERSON holds a sign reading “phase out fossil fuels now!” during a demonstration for a just and equitable transition from fossil fuels at the COP28 UN Climate Summit on Tuesday, December 5, 2023, in Dubai, United Arab Emirates. AP

curb emissions, adapt and prepare for climate change and increase finance from developed countries to developing countries.”

The options in the draft range from a less-stringent “phasedown of unabated coal power” to a simple but dramatic “an orderly and just phase out of fossil fuels.”

Scientists who track climate action said it’s crucial to watch the language for loopholes.

“We need to phase out of fossil fuels completely without a back door,” said New Climate Institute’s Niklas Hohne. “At this conference, of the summit with an announcement that 50 oil companies had pledged to capture leaking and flaring methane emissions from gas production and pipelines. But the problem is that it’s voluntary, and when industry in general is asked to report its own emissions they underestimate it by about a third, and most of the worst methane emitters weren’t part of the deal, Gore said.

“I want to recall for you that two years ago there was the global methane pledge to reduce methane emissions by 30 percent by 2030. Well, what’s happened? Well, since that pledge was made. Methane emissions have increased almost 2 percent,” Gore said in his public presentation.

“The final problem I have with (the pledge) is that the main issue is phasing out oil and gas production,” Gore said in the interview. “And they don’t do that. And whenever I see a bright, shiny object held up in front of the public and they say ‘look at this, don’t look at the actual emissions from oil and gas, look at the bright, shiny object’ then I think, you know, come on, we’ve been down this road before and it’s way too late to take us for fools.”

“Let’s get on with it. The climate crisis is a fossil fuel crisis, and we can solve the climate crisis, stop the temperatures going up, start the healing process by phasing out oil and gas,” Gore said. “And I know they don’t want to do it. And I know that it’s really tough. I mean, look, 80 percent of the energy we use in our global economy is from fossil fuels.”

The former vice president said he hopes he’s wrong about al-Jaber and that maybe he can deliver more than others have in the past. But he’s not betting on it.

And because world leaders can’t even agree where next year’s climate talks will be or who will run them, Gore said he has great hope for 2025. That’s because it will be in Brazil and run by leftist President Luiz Inacio Lula da Silva, who Gore said “is raring to go.”

Gore, who says that he is generally is an optimist, said between climate disasters and public pressure, the world is near a “political tipping point.” Climate scientists often use the term “tipping point” for when ecological systems like Arctic sea ice or coral reefs hit a point-of-no-return change.

Gore sees a political version of that approaching.

“We don’t have time to be depressed about it,” Gore said. “You just got to keep fighting. We’ll get there. The question is whether we get there in time, but I think we’ll get there.”

there’s actually many back doors being proposed at the briefing table ... mainly for prolonging the life of fossil fuels, and one is to talk about ‘unabated’ fossil fuels.”

Including “unabated” means allowing the burning of fossil fuels if their emissions can be captured and stored, a technology that’s much talked about but really hasn’t proven to work well, Hohne and other scientists have said.

Hohne and Hare’s organizations on Tuesday released an updated version of the Climate Action Tracker, which looks at

pledges, policies and actions by nations and tries to calculate what kind of temperature increases that means. It found, based on pledges, the world is going in the wrong direction.

A year ago the world ’s pledges, if fulfilled, would lead to 2.4 degrees Celsius (4.3 degrees Fahrenheit) of warming over pre-industrial times, but now it’s up to 2.5 degrees (4.5 Fahrenheit). That’s because several nations with weak pledges—especially Indonesia and Iran— have increased em issions so much that the world is heading more on a warmer track, said report lead author Claire Stockwell of Climate Analytics.

“We haven’t really seen any a c t i o n f r o m g o v e r n m e n t s ,” Stockwell said.

“Many, many countries still fund significant fossil fuel expansion,” said New Climate Institute analyst Ana Missirliu. “And in the last year since the previous COP, we’ve seen quite a cascade of worrying announcements actually starting with the (host country) UAE, whose $150 billion investment plan to expand its oil and gas industry largely—very largely— overshadows its recent renewable energy investment plans.”

Missirliu also pointed to fossil

fuel production expansion in the United States, United Kingdom and Saudi Arabia.

However, one bright spot is that China, the world’s biggest carbon polluter, is now set to hit peak emissions in 2025, years earlier than pledged, and by 2035 will be down to about 2017 levels, Stockwell said.

Activists had a series of events and actions lined up Tuesday at the summit seeking to amp up pressure on conference participants to agree to phase out—not down— coal, oil and gas, responsible for most of the world’s emissions, and move to clean energy in a fair way.

A team of scientists reported Tuesday that the world pumped 1.1 percent more heat-trapping carbon dioxide into the air than last year, largely due to increased pollution from China and India.

Protests—which are limited to “action zones” around the UN site—centered on phasing out fossil fuels and calling for finance to ramp up the move to clean energy.

O ve r 10 0 cou nt r ie s h ave pledged to triple their renewable capacity and double energy efficiency by the end of the decade.

Jamey Keaten and Gaurav Saini of The Press Trust of India contributed to this report.

Explosion leveled home in Arlington, Virginia as police officers tried to serve search warrant

By Matthew Barakat The Associated Press

A

RLINGTON, Va.—A massive explosion at a duplex where police were investigating reports of shots fired shook a Washington, D.C, suburb Monday and destroyed the home.

All officers escaped serious injury but it was unclear what happened to the suspect who was inside the home when it was leveled by the explosion, Arlington County, Virginia, police spokesperson Ashley Savage said.

Officers went to the home at about 4:45 p.m. after receiving reports of shots fired. They later determined the shots came from a flare gun, Savage said. While police investigated, they obtained a search warrant for the home.

When police later attempted to execute the warrant the suspect fired several rounds inside the home and the explosion occurred just before 8:30 p.m., shooting f lames and debris into the air police said.

Savage said it was unclear whether the rounds were fired from a flare gun or a firearm. Police don’t have any evidence that others were in the duplex but can’t rule out the possibility, she said.

Carla Rodriguez of South Arlington said she could hear the explosion more than 2 miles (3.2 kilometers) away and came to the scene but police kept onlookers blocks away.

“I actually thought a plane exploded,” she said.

Bob Maynes thought maybe a tree had fallen on his house when

More bodies found after eruption of Indonesia’s Mount Marapi

By Mardi Rosa Tanjung The Associated Press

B

ATU PALANO, Indonesia—Rescuers searching the hazardous slopes of Indonesia’s Mount Marapi volcano found more bodies among the climbers caught by a surprise eruption two days ago, raising the number of confirmed and presumed dead to 23.

More than 50 climbers were rescued after the initial eruption Sunday, and 11 others were initially confirmed dead. Another eruption Monday spewed a new burst of hot ash as high as 800 meters (2,620 feet) into the air and temporarily halted search operations.

The latest bodies were found not too far from the eruption site, estimated to be only a few meters (yards) away, said Edi Mardianto, the deputy police chief in West Sumatra province. The bodies of five climbers have been recovered, and 18 are presumed dead because they were so close to the eruption of hot gases and ash.

“The rest we want to evacuate are 18

and we expect they are no longer alive. The team will evacuate and take them to the hospital tomorrow or today to be identified,” Mardianto said Tuesday.

The rescuers are contending with bad weather and terrain constraints, as the scouring wind brings heat from the eruptions.

A video released by West Sumatra’s Search and Rescue Agency showed rescuers evacuating an injured climber on a stretcher off the mountain and into a waiting ambulance to be taken to hospital.

Marapi has stayed at the third highest of four alert levels since 2011, a level indicating above-normal volcanic activity, prohibiting climbers and villagers within 3 kilometers (1.8 miles) of the peak, according to Indonesia’s Center for Volcanology and Geological Disaster Mitigation.

Climbers were only allowed below the danger zone, and they had to register at two command posts or online. However, local officials acknowledged many people may have climbed higher than permitted and residents also could have been in the area, making the number of people stranded by

he heard the explosion.

“I was sitting in my living room watching television and the whole house shook,” Maynes said. “It wasn’t an earthquake kind of tremor, but the whole house shook.”

Arlington is located across the Potomac River from Washington, D.C. The explosion occurred in Bluemont, a neighborhood in North Arlington where many of the homes are duplexes.

Fire of f ic i a ls do not k now the cause of the ex plosion, said C apt. Nate Hi ner, a spokes person for t he A rl ing ton Fire Depa r t ment.

The Bureau of Alcohol, Tobacco, Firearms and Explosives said federal agents and federal fire investigators were at the scene and assisting in the investigation. the eruption impossible to confirm.

Marapi spewed thick columns of ash as high as 3,000 meters (9,800 feet) in Sunday’s eruption and hot ash clouds spread for several kilometers (miles). Nearby villages and towns were blanketed by tons of volcanic debris that blocked sunlight, and authorities recommending people wear masks and eyeglasses if possible to protect themselves from the ash.

About 1,400 people live on Marapi’s slopes in Rubai and Gobah Cumantiang, the nearest villages about 5 to 6 kilometers (3.1 to 3.7 miles) from the peak.

Marapi was known for having sudden eruptions that are difficult to detect because the source is shallow and near the peak, and its eruptions are not caused by deep movement of magma, which sets off tremors that register on seismic monitors.

Marapi has been active since a January eruption that caused no casualties. It is among more than 120 active volcanoes in Indonesia, which is prone to seismic upheaval due to its location on the Pacific “Ring of Fire,” an arc of volcanoes and fault lines encircling the Pacific Basin.

The Associated Press writer Edna Tarigan in Jakarta contributed to this report.

A10

BusinessMirror

Wednesday, December 6, 2023

www.businessmirror.com.ph

Republic of the Philippines

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

MOA CLOUDZONE CORP. 10

December 06, 2023

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

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

NO.

ESTABLISHMENT

GAO, YANG

1

AL-BAYT CIVIL ENGINEERING CONSTRUCTION

Project Manager

50, Esligue Street, Poblacion, Malvar, Batangas

Brief Job Description: Oversee the analysis and development of a company’s business operations

MOA CLOUDZONE CORP.

QUALIFICATION AND SALARY RANGE Basic Qualification:

11

Must have Bachelor’s degree in Business Engineering Construction Management and have minimum 3 years experience as a Project Manager

Salary Range:

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

MOA CLOUDZONE CORP. 12

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

General Manager B/E AEROSPACE B.V. 2

Lot 18, 3rd Street, First Philippine Industrial Park, Ulango, City of Tanauan, Batangas

MOA CLOUDZONE CORP. 3

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Brief Job Description: Develop strategies for the Philippine site as key best cost, high value country supporting multiple businesses, including ensuring continuous growth and developing capability to support future business needs

DANG VAN TRUONG Chinese Customer Service

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. 4

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

DINH THI SAU Chinese Customer Service

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. 5

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

HO VAN CUONG Chinese Customer Service

Brief Job Description: Manage incoming calls and customer service inquiries KENRICK SAPUTRA

MOA CLOUDZONE CORP. 6

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

MOA CLOUDZONE CORP. 7

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Chinese Customer Service

Brief Job Description: Manage incoming calls and customer service inquiries

LUONG VAN HANH Chinese Customer Service

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. 8

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

LUONG VAN TUAN Chinese Customer Service

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. 9

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

LUU THI THAM Chinese Customer Service

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. 13

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

MOA CLOUDZONE CORP.

Php500,000 and above 14

Able to speak, read and write Chinese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

MOA CLOUDZONE CORP.

Php30,000 Php59,999 15

Able to speak, read and write Chinese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

MOA CLOUDZONE CORP.

Php30,000 Php59,999 16

Able to speak, read and write Chinese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Brief Job Description:

NGUYEN THI DIEP Chinese Customer Service

Brief Job Description:

NGUYEN THI THANH DIEM Chinese Customer Service

Brief Job Description:

TRAN THI TUYET Chinese Customer Service

Brief Job Description:

TRUONG CONG MANH Chinese Customer Service

Brief Job Description:

DONG, YUJUAN MOA CLOUDZONE CORP.

Php30,000 Php59,999 Able to speak, read and write Chinese language

Chinese Customer Service

Manage incoming calls and customer service inquiries

Salary Range:

Basic Qualification:

NGUYEN MINH HOANG

Manage incoming calls and customer service inquiries

Salary Range:

Basic Qualification:

Brief Job Description:

Manage incoming calls and customer service inquiries

Salary Range:

Basic Qualification:

Chinese Customer Service

Manage incoming calls and customer service inquiries

Salary Range:

Basic Qualification:

NGO THI KHANH LINH

Manage incoming calls and customer service inquiries

Basic Qualification: Must have relevant work experience in aerospace industry, preferably Collins Aerospace or its affiliates and have the ability to influence and work in a highly matrix organization

Brief Job Description:

Manage incoming calls and customer service inquiries

Php30,000 Php59,999 DESTAFFAN, MARY JO

Chinese Customer Service

Manage incoming calls and customer service inquiries

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

LY THI THUY CHI

17

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Chinese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range: LIU, XIANGUO

Php30,000 Php59,999 Basic Qualification:

MOA CLOUDZONE CORP. 18

Able to speak, read and write Chinese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range:

BE, XUAN YEN

Php30,000 Php59,999

MOA CLOUDZONE CORP.

Basic Qualification: Able to speak, read and write Chinese language

Chinese Customer Service Representative

19

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range: Php30,000 Php59,999

BUI, XUAN PHUONG

Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999

MOA CLOUDZONE CORP. 20

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php30,000 Php59,999 Basic Qualification: Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php30,000 Php59,999

TheWorld

www.businessmirror.com.ph

Wednesday, December 6, 2023 A11

Moody’s cuts China credit outlook to negative, cites slowing economic growth, property crisis

By Zen Soo

AP Business Writer

H

ONG KONG — C red it rating agency Moody’s cut its outlook for Chinese sovereign bonds to negative on Tuesday, citing risks from a slowing economy and a crisis in its property sector.

Moody’s said the downgrade, its first for China since 2017, reflects risks from financing troubles of local and regional governments and state-owned enterprises.

The world’s second-biggest economy had been slowing before a 2020 crackdown on excessive borrowing brought on defaults by dozens of property developers. Those troubles have crimped local government finances and also imperiled some lenders, further dragging on the economy.

The need for government intervention to support banks and local governments poses “broad downside risks to China’s fiscal, economic and institutional strength. The outlook change

also reflects the increased risks related to structurally and persistently lower medium-term economic growth,” Moody’s said in a statement.

China’s Ministry of Finance said it was “disappointed” with Moody’s decision to lower the outlook.

“Since the beginning of this year, in the face of the complex and harsh international situations, and against the background of an unstable global economic recovery and weakening momentum, China’s macro economy has continued to recover and has been advancing steadily,” the ministry said, according to an online transcript of remarks at a Q&A session Tuesday.

Shares retreated in China on Tuesday, with Hong Kong’s Hang Seng dropping 1.9 percent and the Shanghai Composite index down 1.7 percent.

Separately, Moody’s affirmed China’s A1 long-term local and foreign-currency issuer ratings.

The credit rating firm said it expects China’s economy to

PALESTINIANS look at the destruction by the Israeli bombardment of the Gaza Strip in Rafah on Monday, December 4, 2023. AP/HATEM ALI

Israel strikes Gaza’s second largest city in an already bloody new phase of war

By Najib Jobain & Samy Magdy

feel safe, and many fear that if they leave their homes they will never be allowed to return.

HAN YOUNIS, Gaza Strip—Israel intensified its bombardment in and around Gaza’s second largest city early Tuesday, as ambulances and private cars came racing into a local hospital carrying people wounded in a bloody new phase of the war in Gaza.

Under US pressure to prevent further mass casualties, Israel says it is being more precise as it widens its offensive into southern Gaza after obliterating much of the north. Aerial bombardment and the ground offensive have already driven three-fourths of the territory’s 2.3 million people from their homes.

At the Nasser Hospital in Khan Younis, ambulances brought dozens of wounded people in throughout the night. At one point, a car pulled up and man emerged carrying a young boy in a bloody shirt and whose hand had been blown off.

“Where is the Red Cross? … where is the United Nations?” a woman screamed outside the emergency department. “My children, since 10 p.m., are still under the rubble.”

Satellite photos taken Sunday showed tanks and troops massing outside Khan Younis, the latest target of the offensive, which was home to more than 400,000 people before the war.

Israel has ordered people out of nearly two-dozen neighborhoods instead of the entire region, as it did in the north. But with most of Gaza’s population already packed into the south, cramming UN shelters and family homes, there are few places left to go. Israel has barred people who fled the north earlier in the war from returning.

Palestinians say that as Israel continues to strike across the besieged territory, there are no areas where they

The quest to eliminate Hamas

The Associated Press

K

ISRAEL says it must dismantle Hamas’ extensive military infrastructure and remove it from power in order to prevent a repeat of the October 7 attack that ignited the war. The surprise assault through the border fence saw Hamas and other Palestinian militants kill about 1,200 people, mostly civilians, and capture some 240 men, women and children.

The Israeli military says it makes every effort to spare civilians and accuses Hamas of using them as human shields as it fights in dense residential areas, where it has a labyrinth of tunnels, bunkers, rocket launchers and sniper nests.

But the militant group is deeply rooted in Palestinian society, and its determination to end decades of openended Israeli military rule is shared by most Palestinians, even those opposed to its ideology and its attacks on Israeli civilians. That will complicate any effort to eliminate Hamas without causing massive casualties and displacement.

Even after weeks of unrelenting bombardment, Hamas’ leaders in Gaza were able to conduct complex cease-fire negotiations and orchestrate the release of more than 100 Israeli and foreign hostages in exchange for 240 Palestinian prisoners last week. Palestinian militants have also kept up their rocket fire into Israel, both before and after the truce.

The fighting has meanwhile brought unprecedented death and destruction to the coastal strip.

The Health Ministry in Gaza said the death toll in the territory since October 7 has surpassed 15,890 people—70 percent of them women and children— with more than 42,000 wounded. The ministry does not differentiate between civilian and combatant deaths. It says hundreds have been killed or wounded

grow at a 4 percent annual pace in 2024 and 2025, slowing to an average of 3.8 percent for the rest of the decade.

Factors such as “weaker demographics,” as the country ages, will likely drive a decline in potential growth to around 3.5 percent by 2030, Moody’s said.

To offset the weaker property sector, China will need “substantial and coordinated reforms” to support more consumer spending and higher value-added manufacturing to support strong growth, Moody’s said.

China’s recovery from the Cov id-19 pandemic fa ltered after an initial burst of activity earlier in the year faded faster than expected. Despite prolonged weakness in consumer spending and exports, the economy is expected to grow at about a 5 percent annual pace this year.

China’s economy still has “huge development resilience and potential” and will remain an important engine for global economic growth in the future, the Finance Ministry said. since the cease-fire’s end, and many still are trapped under rubble.

An Israeli army official provided a similar figure for the death toll in Gaza on Monday, after weeks in which Israeli officials had cast doubt on the ministry’s count. The official said at least 15,000 people have been killed, including 5,000 militants, without saying how the military arrived at its figures. The military says 84 of its soldiers have been killed in the Gaza offensive.

White House national security adviser Jake Sullivan said Monday that it was too soon to pass judgment on Israeli operations, but that it was unusual for a modern military to identify precise areas of expected ground maneuvers and ask people to move out, as Israel has done in Khan Younis.

“These are the kinds of steps that we have asked them to undertake.” he said.

“These are the conversations we’re having day in, day out.”

The US has pledged unwavering support to Israel since the October 7 attack, including rushing weapons and other aid to the country.

Airstrikes and the ground offensive in northern Gaza have reduced large swaths of Gaza City and nearby areas to a rubblefilled wasteland. Hundreds of thousands of residents fled south during the assault.

Now around 2 million people—most o f t h e te r r i to r y ’s p o p u l at i o n — a re crowded into the 230 square kilometers (90 square miles) of southern and central Gaza. Since the truce’s collapse, the military has ordered the population out of an area of about 62 square kilometers (24 square miles) in and near Khan Younis, according to the evacuation maps issued by the Israeli military.

That further reduces the space available for Palestinians by more than a quarter.

Khan Younis in the crosshairs

SATELLITE photos from Sunday, analyzed

by The Associated Press early Tuesday, show around 150 Israeli tanks, armored personnel carriers and other vehicles just under 6 kilometers (3.7 miles) north of the heart of Khan Younis. The army did not respond to a request for comment and rarely publicizes troop deployments.

Constant bombardment on the edge of Khan Younis lit up the sky over the town Monday evening.

Over the past few days, Israeli strikes have been “on a ferocious scale,” said Mohammed Aghaalkurdi, an aid worker with the group Medical Aid for Palestinians in Khan Younis.

He said neighborhoods and shelters were emptying as people fled. Leaflets dropped by the Israeli military warn people to go south toward the border with Egypt, but they are unable to leave Gaza, as both Israel and neighboring Egypt have refused to accept any refugees.

Magdy reported from Cairo. Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed.

A12 Wednesday, December 6, 2023 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Urban gardens expand access to healthy food

H

ome-cooked meals were the norm during the pandemic, but these are now increasingly more difficult to prepare due to the resumption of economic activity. This is especially true for two-income families that are falling back into the habit of buying takeout food or eating out. Low-income families have gone back to patronizing their favorite carinderias or eateries, where food is cheaper compared to those sold by restaurants.

What makes it more practical for families to purchase prepared meals is the fact that LPG and fresh ingredients have become more expensive. Buying cooked meals is more cost-efficient, particularly for those that no longer have the time to go to the wet market and cook. Choosing the right ingredients alone takes up time, and cooking for a family of five, for example, can be taxing for those who must travel to their offices in central business districts and clock in eight hours a day.

Take-out food is not all that bad, especially if one has the means to purchase tasty and healthy food. Unfortunately, when time and resources are limited, people turn to processed food or microwave ready meals to feed themselves and their families. While these products can satisfy hunger, these items do not have the nutritional value required by children and adults.

This trade-off is something that has become acceptable for many consumers and has led to the continued growth of quickservice restaurants.

One of the ways by which Filipino families could improve their access to nutritious food is to enable them to easily procure these items from gardens within their community. Lawmakers and policymakers have been talking about it for years and yet efforts to increase the number of these gardens has been progressing at a snail’s pace. (See, “Solons: Expand Pinoys’ access to healthy food,” in the BusinessMirror, November 27, 2023). Only a few cities in the National Capital Region have managed to set up their own community gardens and it remains to be seen whether this could really benefit the entire community.

Now that new barangay officials have been elected, they should consider including the establishment of these gardens in their priority programs. Each barangay gets a share of the budget of its parent local government unit every year and they also get funds for their projects. It would not take much to put up these urban farms where their constituents could purchase cheap vegetables, which could also beef up their income.

A report released by Unicef last March revealed that children are eating fewer fruits and vegetables, and more sugar, salty and fatty products, which are readily available to them and are cheaper than healthy options. Reversing this trend and achieving the Sustainable Development Goal of eliminating malnutrition by 2030 would require extra effort to expand Filipinos’ access to healthy food. It would do well for the national government to reach out to communities and work in tandem with them to promote programs seeking to eliminate malnutrition and prevent stunting among children.

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Global carbon emissions from fossil fuels to hit record peak in 2023

By Eric Roston

T

he Global Carbon Project, an international collaboration of scientists, estimates that worldwide carbon dioxide emissions from burning fossil fuels will rise 1.1 percent this year over 2022, to 36.8 billion metric tons. That’s a new peak and 1.4 percent higher than the level in 2019, prior to the Covid-19 pandemic.

The planet is on track to exceed its carbon budget for 1.5C of warming around 2030, and the budget for 1.7C in 15 years, according to the group’s Global Carbon Budget annual report, released as talks continue at the COP28 climate conference in Dubai.

The 2023 estimate marks a slowdown in emissions’ upward trend, but what’s needed is a consistent drop—of roughly 9 percent a year, says the United Nations Environment Program—for the world to have a shot at keeping global heating below the 1.5C target in the Paris Agreement. (Emissions fell 5.4 percent during the pandemic in 2020 before starting to rise again.)

Fossil-fuel emissions have declined in more than two-dozen countries, which are collectively responsible for more than a quarter of the world’s total. But their progress wasn’t enough to contain an overall climb in 2023.

The European Union’s emissions dropped 7.4 percent this year on declining fossil-fuel use. But India surpassed the EU as the world’s

third-biggest emitter, driven by a 9.5 percent increase in coal, 5.6 percent jump in oil and 8.8% rise in cement CO2.

China remains the world’s emissions juggernaut, responsible for 31% of carbon emissions. The US, the largest emitter historically, trails China at 14 percent.

The increased fossil-fuel use comes even as renewable energy has become a mature industry. “Even that rapid growth in renewables has not been sufficient by itself to push out the fossil fuels,” said Glen Peters, senior researcher at the CICERO Centre for International Climate Research in Norway and a report author.

“In my mind, that just really clarifies that if you want to get the fossil fuels out, you have to have policies which get the fossil fuels out.”

Coal plant closures, fuel switching and renewables in the US led to an 18.3 percent decline in coal use, bringing it down to its 1903 level. The EU saw a drop of similar magnitude.

When changes to land use are included, the estimated 2023 emissions total rises to 40.9 billion tons.

The planet is on track to exceed its carbon budget for 1.5C of warming around 2030, and the budget for 1.7C in 15 years, according to the group’s Global Carbon Budget annual report, released as talks continue at the COP28 climate conference in Dubai.

Deforestation is responsible for 4.2 billion tons of carbon a year for the last decade. That’s 2.2 times the amount of CO2 absorbed by new or healthier forests.

For the first time in this year’s report, the Global Carbon Project breaks out emissions related to aviation and shipping, which are up 28% and 1 percent year on year, as air transport in particular recovers from the pandemic.

After an unprecedented fire season in Canada, the scientists also offer an analysis of global wildfire emissions, which reached as high as 8 gigatons, or a third higher than the 2013-2022 average for the first 10 months of the year. That’s equivalent to about 70 percent of China’s emissions from burning fossil fuels.

Four of the report’s authors collaborated with other researchers on a separate study, published Monday in the journal Nature Climate Change.

It challenges a critical assumption in debates over the potential role

Death of J&J executive’s son prompted policy change at the top

By Jeff Green & Matthew Boyle

F

ive days, Tom Barklage knew, was not enough time to recover from the death of his son.

That was the message he relayed in a short e-mail to Johnson & Johnson senior management in November 2021, less than a month after the sudden death of 17-year-old Blake from an undiagnosed infection that attacked his heart. The plea turned out to be a key factor in J&J’s July decision to increase bereavement leave from five days— the average across corporate America—to 30.

“When it was changed, it was probably one of the happiest days since Blake passed,” Barklage said in a company video about the policy shift.

J&J is part of a broader US corporate move toward more flexibility on bereavement, a complex issue that’s historically been fraught for people struggling with grief while navigating workplace demands. This year American Express Co. enhanced

its policy to provide US employees with 20 days leave for the loss of a spouse, partner or child, up from five previously. JPMorgan Chase & Co. also moved to 20 days this year, bringing it in line with rivals Goldman Sachs Group Inc. and Bank of America Corp.

Companies face increasing pressure from staff, state regulators and worker advocates to expand the time

Those changes can make a big difference to employees suddenly dealing with loss. Barklage, a key account manager for a J&J pharmaceutical subsidiary, wrote in his e-mail to management that Blake’s death had been the most difficult experience he and his wife had ever faced, and he struggled to understand why condolence leave was limited to five days.

employees can take off after the death of a loved one. They’re rethinking who counts as “family” and looking for ways to accommodate different cultural grieving practices across their diverse workforces. They’re also using generous bereavement

of technologies that remove some CO2 from the atmosphere.

Carbon removal has been a major subject of discussion at COP28, with some scientists saying it will be necessary to limit global heating, if not a substitute for curbing greenhouse gas emissions.

There’s not necessarily a one-toone relationship between emitting and absorbing carbon, for four reasons, the study says.

First, there’s the problem of “permanence,” or the concern that carbon removed by plants or oceans may return to the atmosphere. Second, reforestation—while a major goal of many countries and advocates— can darken the color of land, thereby attracting more light and heat to the ground. Third, a drawdown of CO2 could have the perverse effect of increasing emissions of nitrous oxide and methane, two powerful greenhouse gases.

Finally, there’s an “asymmetry” between the carbon flow and the temperature’s response. In other words, the temperature reduction from removing carbon may be less than the heat retained when it was in the atmosphere.

The authors are right to point out the differences between removing CO2 and not emitting it to begin with, said Kate Marvel, senior climate scientist at Project Drawdown, who was not involved in the research.

See “Global,” A13

policies to help compete in a tight labor market.

“Employers are demonstrating a greater level of flexibility,” said Jeff Gorter, vice president of clinical crisis response at R3 Continuum, which helps steer organizations through traumatic events like natural disasters and mass shootings. “So rather than saying, ‘You get three days of leave, and you’d better have coped with the loss by then because I want you back at work,’ employers recognize that for anyone, grief is a process.

The ability to return to full functioning may take longer.”

Those changes can make a big difference to employees suddenly dealing with loss. Barklage, a key account manager for a J&J pharmaceutical subsidiary, wrote in his e-mail to management that Blake’s death See “Death,” A13

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India’s stock market valuation reaches $4 trillion for the first time

By Ashutosh Joshi

A

surge in investments by retail traders and resurgent foreign inflows have put India’s stock market—the world’s fifth biggest—on the verge of a $4 trillion valuation for the first time.

The market capitalization of securities listed on the nation’s exchanges has tripled since the March 2020 pandemic low to reach a whisker short of the $4 trillion mark as of Monday, according to data compiled

by Bloomberg.

India’s benchmark NSE Nifty 50 Index jumped 2.1 percent on Monday, leading gains in Asia, after Prime Minister Narendra Modi’s ruling party won three crucial state elections. The victories removed an element of political risk for investors by bolstering Modi’s position ahead of nationwide polls next year, increasing bets for continuity in government policy.

The feat for India’s stock market comes as the world’s fastest-growing major economy positions itself as an alternative to China for global investors and companies alike. Overseas funds have piled $15 billion into local shares this year, with the market also getting a steady boost from the retail investing boom that took off during the pandemic. Up 14 percent in 2023, the Nifty gauge is heading for an unprecedented eighth straight year of gains.

India’s economy stands out amid slowing global growth—gross domestic product jumped 7.6 percent in the three months to September from a year ago—with its appeal further burnished by China’s tepid post-pandemic recovery and its tensions with the West.

The same holds true for Indian stocks, with an MSCI Inc. gauge of local shares on track to beat a global emerging-markets measure by more than 10 percentage points for a third year in a row. The outperformance versus Chinese peers is even more stark, with the Indian gauge poised to outstrip the MSCI China Index by more than 20 percentage points for a third year.

“The Indian market for the last 10 years has seen unparalleled growth, be it in the corporate sector or the broader indices,” said Tanvi Kanchan, head of UAE business at India’s Anand Rathi Shares and Stock Brokers Ltd. “This year, we’ve seen small and mid cap companies outperforming and they are contributing to the broader economy’s capex recovery.”

India’s young population and Modi’s efforts to capture a bigger share of global supply chains are helping lure companies such as Apple Inc. to its shores. Meanwhile, global pension and sovereign wealth managers are flocking to India while growing hesitant on China, according to a new study London-based think-tank

Global . . .

continued from A12

“If we plant a bunch of trees, or hack the ocean, to take up more carbon, we have to worry about when that carbon will be released back into the atmosphere,” she said. That’s “some-

Death . . .

continued from A12

had been the most difficult experience he and his wife had ever faced, and he struggled to understand why condolence leave was limited to five days. “When you lose a child, five days isn’t enough,” Barklage said in an interview, his voice breaking at times. “I can’t even prepare his funeral within five days.”

Peter Fasolo, J&J’s chief human resource officer, said the company invited Barklage and other employees to discuss the issue—and real-

The feat for India’s stock market comes as the world’s fastestgrowing major economy positions itself as an alternative to China for global investors and companies alike. Overseas funds have piled $15 billion into local shares this year, with the market also getting a steady boost from the retail investing boom that took off during the pandemic.

Up 14 percent in 2023, the Nifty gauge is heading for an unprecedented eighth straight year of gains.

Official Monetary and Financial Institutions Forum.

The stock market’s boom has also sparked frenzy for initial public offerings, with some of new listings posting stellar gains in recent days.

“Besides the structural promise, near-term factors that we believe will drive markets higher are robust activity data, impressive corporate earnings, easing oil prices, strong domestic flows,” JPMorgan Chase & Co. strategists led by Rajiv Batra wrote in a November 30 note.

The risk for India could come from its high valuations. Several investors have voiced concerns the market is overvalued and that the India trade is getting too crowded, raising the odds of a pullback. At the same time, the rising participation of individual investors, many of whom are drawing on advice from unauthorized financial advisers and social media “gurus,” is becoming a concern for the market regulator.

For now though, Modi’s victories in state elections are seen aiding sentiment and raising India’s appeal for foreign investors, who turned buyers of local stocks in November for the first time in three months.

“What it does is give investors increased confidence, and duration to the India trade,” Matthew Haupt, portfolio manager at Wilson Asset Management in Sydney said on Monday. “We will likely see continued capital inflows to India.”

NOTE: The market capitalization is calculated from all shares outstanding. ALLX WCAU data does not include ETFs and ADRs as they do not directly represent companies. It includes only actively traded, primary securities on the country’s exchanges to avoid double counting as well. Therefore the values will be significantly lower than market capitalization values of a country’s exchanges from other sources. With as-

Opinion BusinessMirror

Wednesday, December 6, 2023 A13

Global warming could cost poor countries trillions.

They’ve urged the UN climate summit to help

D

By Sibi Arasu & Jamey Keaten | The Associated Press

UBAI, United Arab Emirates—A prominent developingworld leader on the issue of climate change said Monday that global taxes on the financial services, oil and gas, and shipping industries could drum up hundreds of billions of dollars for poorer countries to adapt and cope with global warming.

Barbados Prime Minister Mia Mottley focused on how poorer countries, with help from richer countries and international finance, could shoulder the astronomical costs for the world to adapt to climate change, reduce its future impact, and pay for losses and damage caused as climate trouble like floods, forest fires and heat waves rip through communities.

The UN climate summit known as COP28, which is being presided over by the head of the United Arab Emirates’ biggest oil company, put its attention Monday on how developing countries could possibly pay trillions of dollars that experts say they will need to cope with global warming.

“This has probably been the most progress we’ve seen in the last 12 months on finance,” Mottley told reporters about pledges to fund the transition to clean energy, adapt to climate change and respond to extreme weather events.

“But we’re not where we need to be yet,” she said.

Small island nations have been pushing climate finance in the negotiations, saying it’s vital for the countries to be able to adapt to rising seas encroaching on their land.

Cedric Schuster, the minister for natural resources of Samoa, said he’s optimistic that the climate talks could make headway on the finance issue, but urged that countries are still a long way off where they need to be.

Schuster, who is also chair of the Alliance of Small Island states, said Samoans “want to be assured that they will survive.... Their trust in us is to be here, to amplify their voices and for the world to understand the outcome of their concerns and for us to make sure the right global decisions are made.”

Climate activists chimed in on the issue at the two-week conference in Dubai, by staging a protest at the sprawling venue that’s taking in tens of thousands of leaders, economists, business leaders, philanthropists and others to find a way to revamp the way the world generates and uses energy in the 21st century.

“Billions, not millions! Fill the fund now!” they chanted, referring to the loss and damage fund for countries impacted by climate harm.

Countries, including Germany and UAE, have been pledging hundreds of millions into the fund.

But Eric Njuguna, an activist from

The UN climate summit known as COP28, which is being presided over by the head of the United Arab Emirates’ biggest oil company, put its attention Monday on how developing countries could possibly pay trillions of dollars that experts say they will need to cope with global warming.

Kenya, said, “we need the rich countries to pay into the loss and damage fund on the scale of hundreds of billions.”

In a press event organized by the Climate Vulnerable Forum, the group’s Secretary-General was pessimistic about the climate activists’ calls being heard by developed nations.

“We are stuck in millions,” Mohamed Nasheed, who’s also the former president of the Maldives, said. “So, I cannot see it going up to trillions.”

Mottley praised the formal launch of a “loss and damage” fund at COP28 that organizers say has already drawn some $720 million in commitments, but said that a far cry of the $420 billion—with a “B”—needed.

Mottley said a tax on global financial services, set at a 0.1 percent rate, could raise $420 billion for it, “not $720 million where we are today.”

“If we took 5 percent of oil and gas profits last year—oil and gas profits were $4 trillion—that would give us $200 billion,” Mottley said. “If we

US to deploy anti-ship missiles on subs in 2024 to counter China Fielding the new version of the Tomahawk—which made its battlefield debut in the early hours of the 1991 Persian Gulf War in Iraq—would add to a growing US arsenal of shipattack missiles to complement submarine-launched torpedoes intended to counter China’s numerically superior fleet. While the Navy also plans to start fielding the weapons on surface vessels, those are more vulnerable to China’s land- and sea-based anti-ship arsenal.

thing we don’t have to think about if we never emit that carbon at all.”

“What goes up and what goes down are not necessarily equal,” said Peters, who is also a co-author of the Nature Climate Change paper. “Net zero is tougher than what you may think. I guess that’s one way of putting it.” Bloomberg

he US Navy plans to begin arming submarines next year with ship-targeting versions of the widely used Tomahawk missile, part of Washington’s push to ramp up military capabilities to challenge Chinese maritime forces, particularly around Taiwan.

The “Maritime Strike” version of the Tomahawk, the RTX Corp. missile traditionally used as a groundattack weapon, will be fielded after October 1, program manager Captain Jon Hersey said in a statement.

The latest models will be modified with a new guidance system enabling them to “to engage a mobile target at sea,” he said, adding the Navy took delivery of the initial version last year for tests before declaring it combat ready.

Fielding the new version of the Tomahawk—which made its battlefield debut in the early hours of the 1991 Persian Gulf War in Iraq— would add to a growing US arsenal of ship-attack missiles to complement submarine-launched torpedoes intended to counter China’s numerically superior fleet. While the Navy also plans to start fielding the weapons on surface vessels, those are more vulnerable to China’s land- and sea-based anti-ship arsenal.

Taiwan, which China claims as its sovereign territory, is of particular interest for Washington and sees defending the island—and its crucial semiconductor industry—as a strategic, economic and political priority.

The schedule for the new maritime strike missile fits roughly within the Pentagon’s plans to field thousands of drones in the IndoPacific region to counter China, known as the Replicator program, which the Pentagon aims to deploy on a large scale between February and August 2025.

The development also comes alongside Washington’s burgeoning security alliance with the UK and Australia, known as Aukus. The trio on Friday announced a raft of plans, including the use of artificial intelligence aboard aircraft patrolling the Pacific to help track Chinese submarines.

The three powers said they would deploy advanced artificial intelligence algorithms on multiple systems, including the P-8A Poseidon aircraft to process data from each nation’s sonobuoys, underwater detection devices.

The missiles will be deployed on Los Angeles and Virginia-class submarines, which can carry as many as 12 land-attack Tomahawks, although some modified versions of the Virginia-class will be able to carry as many as 40.

The weapons have a range up to 1,000 miles (1,600 kilometers), according to Brent Sadler, a senior research fellow in naval warfare and advanced technology at the Heritage Foundation, as well as a former submariner and head of the Navy’s AsiaPacific Advisory Group.

“The long range provides greater stand-off from Chinese anti-access

ized bereavement leave was a vexing problem for many. Fasolo has now received more positive feedback from the change than from any other HR policy shift during his 16 years at the company. “I knew that we had hit the right chord with our employees,” he said. Barklage, for his part, says he is “never leaving J&J because of what they did. They didn’t have to do it.”

While the vast majority of US companies offer paid bereavement leave, the average is about five days, according to workplace consultant Mercer, and data from insurance broker NFP found that only 5 percent offer more than 6 days. But about 20

percent of members of the Disability Management Employer Coalition, a group of HR executives, plan to expand the scope of their bereavement leave policy in the next year.

Donna Wilson, a professor who studies aging and grief at the University of Alberta, Canada, said her research suggests 14 days may be necessary, not five. “We have all these people that are going back to work and flying planes and driving big trucks,” she said. “We just expect them to be perfectly able to work and not make any errors. People may just not be physically and mentally able to go back to work so quickly.”

One common enhancement is to grant leave after the death of extended family members or friends, something that’s now offered by more than two-thirds of employers, according to Beth Umland, the director of research on health and benefits at Mercer. Software maker Adobe Inc., for example, offers 20 days of paid leave for the death of a spouse, partner, parent or child, as well as grandparents and grandchildren.

Namitha Jacob, an organizational training advisor at Social Solutions International, tried to take two and a half days of bereavement leave following the death of her un-

cle, only to be told “no” by her employer. Jacob, who is Indian, hosted many extended family members as her aunts and uncles immigrated to the US, and her cousins were more like siblings to her. But her company’s policy didn’t allow bereavement leave for uncles.

“It made me feel as though my family is not an American family,” Jacob said. After she raised the issue, her company was understanding and altered its policy, which now covers the deaths of aunts, uncles, cousins and more. “We learned so much during Covid,” Jacob said. “We’ve learned that we can make adjustments to be

sistance from Ishika Mookerjee/Bloomberg

By Tony Capaccio

T

and area-denial missile forces, and this would complicate Chinese planning for a blockade/invasion of Taiwan,” Sadler said in an e-mail. “More work is needed to develop how these missile will be employed to overwhelm” China’s forces and take out enough ships to be “war-winning,” he said.

Japan may someday also deploy the new anti-ship version of the missile. The State Department notified Congress this month that Tokyo has been cleared to receive its first ground-attack Tomahawks in a sale valued at as much as $2.35 billion for up to 200 missiles.

“Should Japan also get this weapon, it adds another level of complexity the Chinese will have to contend with,” Sadler said.

China has 370 ships and submarines in its naval force, including

had a 1 percent tax on the value of shipping—that, last year, the value of that was $7 trillion—that would give us $70 billion.”

The G-20, a group of key developing and industrialized countries that are responsible for four-fifths of all greenhouse gases, said in New Delhi earlier this year that developing countries will need $5.9 trillion by 2030 to meet their climate goals.

They say another $4 trillion is needed if they’re to get on track to have netzero emissions by 2050.

The United States, the world’s richest country, has never adopted a global tax and Republicans in the US Congress are loth to adopt new taxes and are especially hesitant to fund many multilateral institutions and programs.

“It’s not easy to levy an international tax. It needs countries agreeing to make those taxes,” said Lord Nicolas Stern, a co-chair of a panel of experts looking into the cost of financing the fight against climate change.

And poorer countries need money up-front to make investments in renewables possible. “Where we’re talking about climate change, I think the maritime, and oil and gas, and travel are of particular relevance to this issue,” Stern said. “And that means countries getting together.”

“So we can see what to do to increase the investment: It’s got to be big,” he added. Associated Press journalist

David Keyton and Gaurav Saini from the Press Trust of India contributed.

more than 140 major surface combatants, the Pentagon said in its latest assessment of Chinese military power. The US Navy has 291 deployable vessels.

China’s navy is largely composed of modern multi-mission ships and submarines, and it launched its third aircraft carrier last year, the CV-18 Fujian.

Vice Admiral William Houston, the Navy’s Submarine Forces Commander, said in a statement to Bloomberg News that he’s committed to fielding the Maritime Strike Tomahawk as quickly as possible but pointed out that “procurement, modernization and fielding schedules are dynamic and impacted by a variety of factors including industrial base and shipyard capacity.”

The US anti-ship arsenal now includes the ship-launched RTX SM-6 air defense missile adapted by the Pentagon’s Strategic Capabilities Office and Lockheed Martin Corp.’s Long Range Anti-Ship Missile. It can be launched from the Air Force B-1-B bomber and the Navy’s top aircraft carrier fighter, the F/A-18 E/F. Separately, the Navy also fields Boeing Co.’s sea-skimming Harpoon anti-ship missiles, and Taiwan is buying at least 400 ground-launched versions for coastal defense. Those types of missiles figured prominently in a series of tabletop war games of a potential invasion of Taiwan by China conducted last year by the Center for Strategic and International Studies.

Bloomberg

flexible, that people deal with death differently.”

The best bereavement policies are the most malleable, said diversity consultant Janice Gassam Asare, as a strict policy can be akin to interrogating someone’s culture.

“If I had to explain that because I’m a Buddhist, I do all of these practices, it almost feels like now I’m revealing a part of my identity that may be judged by my managers and by my colleagues, and then they have to give me permission, versus just having a policy that’s very open to the different types of practices people engage in,” she said. Bloomberg

A14 Wednesday, December 6, 2023

HOUSE OK’S ROAD USER TAX ON 2ND READING; P68.2B EYED

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HE House of Representatives on Tuesday approved on second reading the proposed Motor Vehicle Road Users’ Tax (MVRUT), a move aimed at generating additional funds of P68.19 billion over five years to support the modernization of public transport.

Through viva voce voting, lawmakers approved House Bill 9647, which seeks to amend Republic Act 8794, or the Motor Vehicle User’s Charge, enacted more than two decades ago, and impose an MVRUT instead.

The bill is expected to be approved on third and final reading next week.

According to House Committee on Ways and Means Chairman Joey Sarte Salceda, the Motor Vehicle Road User’s Tax is the country’s most important fiscal instrument against traffic congestion and the overuse of the country’s road facilities.

Since the enactment of the law, Salceda said the motor vehicle user’s charge rates were only adjusted once in 2004 and have not been adjusted for inflation for the past 19 years.

“The lack of adjustments since 2004 has contributed to a 26.62 percent year-on-year increase in car sales and daily traffic volumes in the NCR,” he said.

In 2022, total MVUC collections, which accrued to the Special Road Fund of the Department of Public Works and Highways, amounted to P19.8 billion.

In that year, Salceda said the

country allocated P485 billion for roads in the 2022 national budget.

“Clearly, vehicle owners are receiving a net subsidy for their ownership of cars. In fact, MVUC rates have not been adjusted since 2004,” he added. “[With the approval of the bill], we expect P9.4 billion in the first year, P31.54 billion in the second year, and P52.28 billion in the third year,” he said.

Salceda said the proposal seeks to reduce rates for vehicles-for-hire and exempt motorcycles and tricycles from the charge.

For-hire vehicles will get a 50-percent discount from their MVUC payments, while motorcycles and tricycles will be exempt, per the bill.

Citing the Department of Finance, Salceda said the implementation of the MVUC reform will have a minimal impact on public transport fares at 0.04 centavos.

The proposal was identified as a priority measure during the 2nd State of the Nation Address.

The approved proposal also earmarks 45 percent of incremental revenues for the PUV modernization program and 5 percent for road crash prevention programs.

Meanwhile, the schedule outlines a structured taxation plan that is set to be levied, assessed, and collected from registered vehicles, aiming to contribute to the maintenance and development of road networks across the country.

Continued on A4

Rules for rice import bonds imposition almost complete

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Philippines is mulling over requiring rice importers to post a bond amounting to at least 10 percent of their import value to ensure that they will bring in their approved volumes amid non-utilization of import clearances.

Agriculture Secretary Francisco Tiu Laurel Jr. disclosed on Tuesday that the Department of Agriculture (DA) is now fine-tuning the guidelines for implementing the bond requirement for all rice importers in the country.

“We have now put in place new conditions on the import permit. I will be requiring each importer to post a bond, [amounting to] 10 percent of their import value,” Laurel told lawmakers during his Commission on Appointment hearing.

“If they cannot bring in their import volume then the bond will be with the government. That is one of [our] stop gap measures,” Laurel added.

Laurel explained that the measure is being put in place after he discovered a lot of unused valid sanitary and phytosanitary import clearances (SPSICs) for rice imports.

Laurel revealed that a lot of rice importers have already surrendered their valid unused SPSICs after he gave them a 30-day ultimatum to bring in their approved import volume.

Under the existing rules and regulations, rice importers must first secure an SPSIC from the Bureau of Plant Industry, an attached agency of the DA, prior to bringing in foreign grain stocks in the country.

An SPSIC certifies that an inbound shipment is safe to human and animal health and is not bringing in any pests that would be detrimental to the local agriculture sector.

Laurel also added that he has formally shortened the must shipout date for rice imports to 30 days from the previous 60 days to 90 days deadline.

“I shortened the deadline so that importers will be forced [to bring in their volume] and would help us

see the actual [rice] situation [of the country],” he explained.

Laurel issued on Tuesday Memorandum Circular (MC) 53 revising the must ship-out deadline for rice imports.

Under MC 53, all rice shipments regardless of their origin must arrive in the country within 30 days upon the issuance of their respective SPSICs. Under the revised import rules, rice importers who will not fully use the approved volume they applied in their SPSICs could face sanctions and penalties.

“Furthermore, the importers shall fully utilize their applied SPSICs. Low or no utilization of SPSICs may result in sanctions and penalties in accordance with the guidelines as this can create discrepancies in the forecasting being done in relation to the availability of rice supply,” Laurel said.

Bonds a good mechanism

MONETARY Board Member V. Bruce J. Tolentino said requiring rice importers to post bonds is a good mechanism to ensure that traders and importers engaging in rice importation are “experienced” and “have discipline.” Tolentino proposed that the bond be refundable, especially for traders and importers who abide by the state’s importation rules.

“If it’s refundable then the bond should not push up market prices. But it will help to ensure that traders are serious and experienced,” Tolentino

told the BusinessMirror on Tuesday.

Philippine Chamber of Agriculture and Food Inc. (PCAFI) President Danilo V. Fausto earlier proposed that the DA explore requiring rice importers to post a bond to ensure that the imports would arrive in the country.

“If you are really determined to import rice, then at the onset you should post a bond,” Fausto told the BusinessMirror in an earlier interview.

(Related story: https://businessmirror.com.ph/2023/11/24/dachiefs-30-day-ultimatum-on-riceimports-supported/)

Sinag: Weed out idle importers

GROUPS like the Samahang Industriya ng Agrikultura (Sinag) backed Laurel’s MC 53, arguing that it would “weed out” importers with low or no utilization of their SPSICs. Sinag Executive Director Jayson Cainglet earlier proposed to Laurel to “blacklist” rice importers who are not using their approved SPSICs. (Related story: https://businessmirror.com.ph/2023/11/27/damust-blacklist-traders-who-willdelay-rice-imports/) The BusinessMirror broke the story last month that the Philippines’s rice imports is close to touching the 3 million metric tons (MMT) territory as the state recently approved the entry of over 1 MMT of foreign supply via private traders and importers.

‘Philippine Pavillion at COP28 tells PHL story of resiliency to climate change’

By Jonathan L. Mayuga @jonlmayuga

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HE Philippine Pavillion, formally launched on December 1 at the Dubai Expo in Dubai, United Arab Emirates (UAE) at the ongoing 28th Conference of Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC), showcases the story of how one of the most vulnerable countries in the world struggled to address climate-change impacts.

Hosting the Philippine Pavilion during the 2023 United Nations Climate Change Conference (COP28) that runs until December 12 under the theme, “Together Today for Tomorrow,” illustrates how the country combines climate change adaptation and mitigation, resilience and sustainable pathways strongly rooted in equity, the DENR said in a statement.

President Ferdinand Marcos Jr. has designated DENR Secretary Maria Antonia Yulo-Loyzaga as head of the 150-member Philippine delegation.

The Philippine delegation will be joined by local chief executives and legislators, as well as representatives from development partners and the youth sector.

According to the DENR, the Philippine Pavillion will host 32 Side Events throughout the 13-day conference.

On December 6, panel discussions will focus on the theme “Multilevel Action, Urbanization and Built Environment/ Transport.” The DILG, DENR, DOE, the Department of Trade and Industry (DTI), and the United Nations Development Programme (UNDP) will lead discussions on topics such as the Philippine-Australia Partnership Model for Disaster and Climate Resilience, Circular Economy and the Extended Producers Responsibility, Investment opportunities related to the Electrical Vehicle industry and Battery Supply Chain and examining how the global stocktake can help parties enhance national commitments.

December 8 is dedicated to the youth, children, education, and skills sector as the National Youth Commission and youth delegates lead panel discussions and presentations on climate action. Further, the National University of Singapore and the DENR Biodiversity Management Bureau (BMB) will discuss the vital role of the ocean for climate change adaptation and mitigation by identifying opportunities and highlighting the latest interna-

tional policy developments on the ocean and climate change nexus.

On December 9, Pavilion events focus on Nature Land Use and Oceans. USAID Sustainable Interventions for Biodiversity, Oceans, and Landscapes (SIBOL) will showcase how the country has adopted natural capital accounting principles that adhere to international and scientific standards.

The Philippine experience in using the GAGRP Framework as a new, progressive solution that measures how climate change is affecting natural capital, coupled with nature-based solutions in restoring what has been destroyed, will also be on focus.

The Philippines and the ASEAN Center for Biodiversity will also cohost a side event highlighting perspectives and experiences on the ways and actions to harmonize climate change and biodiversity policies at the ASEAN national, and community levels. Other topics on this day include nature-based solutions and experiences of and responses to Loss and Damage in coastal and island communities.

On December 10, the side event, “The Role of Sustainable Agriculture Development and Water Management in Ensuring Food Security in the Era of Climate Change” shinesalightonsustainableagricultureand water management in ensuring food security amid the challenges of climate change.

On the same day, the forum “Strengthening Resilience of CVF (Climate Vulnerable Forum) Member Countries in the Agriculture and Health Sectors through climate information services leveraging from a South-south Exchange”will provide timely and tailored information for policymakersanddecision-makersonagriculture and human health in the context of climate variability and resilience.

These events are aligned with the thematic days identified by the UAE COP28 Presidency and include panel discussions and lectures by international experts, government leaders, and other dignitaries. Led by national government agencies, in partnership with development partners, these side events aim to highlight the country’s collectiveandscalableeffortsinaddressing climate change and will showcase multistakeholder solutions to climate change centered around three areas: protecting biodiversity, building resilient communities, and low-carbon development.

Side events at the Philippine Pavilion kicked off with a discussion on the forthcoming National Adaptation Plan (NAP) and the Nationally Determined

Contribution Implementation Plan (NDCIP), led by the DENR, the Climate Change Commission (CCC), and the Asian Development Bank (ADB); then later, a discussion led by DOST Secretary Solidum on data governance as a key enabling factor to develop and implement resilience strategies that are suited for risk contexts, vulnerabilities, impacts, and needs. The DOST session will showcase how the Philippines has developed innovative digital solutions to effectively manage disaster data, and efficiently share, analyze, and utilize it for decision-making.

The DOH, World Health Organization (WHO), US Agency for International Development (USAID), and Research Triangle Institute (RTI) International will host discussions on how global health systems can integrate a climate lens and how the Philippines has developed policies, strategies, and measures to ensure climate-resilient health systems.

“We have a number of nature-based panels, especially at the side events.

The DENR has taken a role in that. It is extremely important for the Philippines as a climate-vulnerable country to be heard by other nations because what we’re trying to do at this point is really approach our climate resilience by twinning, adaptation, mitigation, and disaster risk reduction. That will involve the social, economic, environmental, and scientific efforts of the whole of government,” explained Yulo-Loyzaga.

Meanwhile, the DENR and DOF will lead discussions on innovative climate financing strategies; successful cases of debt restructuring to support conservation programs and climate action; and present the proposed Philippine Sustainable FinanceTaxonomy Guidelines (SFTG) of the Financial Sector Forum (FSF), updated sustainability reporting guidelines for publicly listed companies (PLCs) of the Securities and Exchange Commission (SEC), and the forest carbon roadmap and nature-based solutions by the DENR. The DOTr and DOLE, on the other hand, will host discussions centered around rightskilling the Filipino workforce and the technical assistance needed to accelerate renewables and energy efficiency by 2030. Events on this day aim to showcase successful cases in the Philippines of a just transition to clean energy as well as opportunities for financing and partnerships with the private sector.

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, December 6, 2023

Govt gives Ayala unit more time to drill for oil in WPS

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By Lenie Lectura

@llectura

he Department of Energy (DOE) has extended by 18 months the deadline imposed on Palawan55 Exploration and Production Corp. (Palawan55) to drill a well under service contract (SC) 55 in the West Philippine Sea (WPS).

Palawan 55, the subsidiary of Ayala-led ENEX Energy Corp., is the operator of SC 55.

ENEX, the oil and gas exploration unit of ACEN Corp., said on Tuesday that the DOE wrote a letter last December 1 granting Palawan 55’s request for an extension of the deadline.

“The DOE letter further states

that “[g]iven that SC 55 is currently still on force majeure, Palawan55 shall have a total of 23 months [the five months remaining plus the 18-month extension] from the lifting of force majeure to drill the committed well,” ENEX said.

Pursuant to Section 26.01 of SC 55, the DOE had earlier found basis to place SC 55 under Force Majeure

from December 6, 2022 until such time that a clearance to proceed with exploration activities in the West Philippine Sea has been issued by the National Government.

The SC 55 consortium consists of Palawan 55 (75 percent) and Pryce Gases Inc. (25 percent).

Under the proposed work program submitted to the DOE, at least one well is to be drilled within the first two years. SC 55 was estimated to have some 2.2 trillion cubic feet of gas.

Meanwhile, ACEN said its executive committee approved the proposed partnership with BrightNight APAC (Asia Pacific) B.V. for the establishment of a Philippines renewable energy (RE) platform company to develop, construct, and operate utility-scale RE projects in the Philippines.

“This partnership in the Philippines, once completed, will be the

second gigawatt (GW)-scale RE platform investment partnership between ACEN and BrightNight in APAC,” said ACEN in a disclosure to the stock exchange.

BrightNight is the first global renewable integrated power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions.

BrightNight works with customers across the United States and Asia Pacific to design, develop, and operate safe, reliable, largescale renewable power projects optimized to better manage the intermittent nature of renewable energy.

BrightNight has developed an advanced renewable power portfolio of 2.7 GW across the Philippines, India, Australia and Bangladesh, 1GW of which being under development in the Philippines.

Wind project receives fiscal perks T

he 13.2-megawatt (MW) of Nabas-2 wind power project (Nabas-2) of PetroWind Energy Inc. (PWEI) was granted fiscal incentives by the Board of Investments (BOI).

PGEC President F.G. Delfin Jr. said the company’s additional investment will lead to more “concrete benefits” to host communities—jobs generation, taxes and royalty remittances, enhanced business and eco-tourism opportunities for the locality, and more clean power supply to households and industries in the Visayas among others.

“We welcome BOI’s approval of the Nabas-2 incentives registration as it will boost the power generation capacity of our service contract block, thus contributing to DOE’s [Department of Energy]

goal of making western Visayas a renewable energy [RE] hub of the country,” Delfin said in a statement.

BOI Managing Head and Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said the government looks forward to PGEC’s registration with the BOI of more RE projects in its pipeline.

“We are grateful to the Yuchengco Group and Thailand’s Bangchak Group for their continuing trust and investment in the country.

This only shows that the efforts of President Ferdinand R. Marcos, Jr. in attracting private local and foreign investors continue to bear fruit and we enjoin all local government unit hosts to support these investments as well,” said Rodolfo.

PWEI is the joint-venture between Yuchengco Group of Companies’ PetroEnergy Resources Corp.

(20 percent), PetroGreen Energy Corp. (40 percent), and Thai-owned BCPG Wind Cooperatief UA (40 percent).

The Nabas-2 project is located south of the existing 36MW Nabas-1 wind power plant which has been transmitting power since 2015 and remains as the single biggest source of renewable energy in Aklan.

In September 2022, Nabas-2 was officially awarded by the DOE as the winning bidder for the first green energy auction for wind in the Visayas grid. A year later in September 2023, PWEI and the National Grid Corporation of the Philippines (NGCP) sealed a connection agreement for the facility allowing it to connect to NGCP’s 69 KV transmission line via a new substation to be built by PWEI. Lenie Lectura

Eunina Mangio is PCCI’s new president

By Andrea E. San Juan @andreasanjuan

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he Philippine Chamber of Commerce and Industry (PCCI) said it has elected Eunina Mangio, owner of several large businesses including a popular samgyupsal chain, as its new president.

PCCI, one of the top business groups in the country, said Mangio, owner of large businesses including SamgyeopMasarap chain of restaurants, was “unanimously” elected by the incoming 20-member board of directors of the PCCI during its annual meeting held last December 1.

According to PCCI, its newly elected president vowed to “proactively” work with the national government in attracting local and foreign investors to the country. In addition, Mangio aims to push for programs that will create more businesses and generate jobs across the country.

“I am honored by the trust and confidence that my colleagues in PCCI have entrusted in me. I will do my best to serve the chamber movement and represent the organization in the local and global arena,” said Mangio, who is also an Honorary Consul of the Republic of Liberia in West Africa.

Mangio is the third woman president of the PCCI since it was estab-

lished in 1978. She is currently the vice president for regional affairs of the trade group, which now has 30,000 members.

By profession, Mangio is a licensed chemical engineer. The new president of PCCI has been engaged in several businesses including Servcare International Corporation, an international holding company with subsidiaries in the United States, Asia, and Dubai, where she sits as president.

Mangio is also the Chairman of the Board of Mawell Chemical Corp., an electrical and mechanical contractor, and Choosers Choice Food & Development Corp.—a chain of casual dining restaurants serving Korean and Japanese cuisines with 56 branches across the Philippines.

She is a graduate of the Mapua Institute of Technology, holding a double degree in mechanical and chemical engineering. She also earned her master’s degree in business management from the Ateneo Graduate School of Business.

Currently, PCCI noted, Mangio is also the Board Governor of the Employers Confederation of the Philippines (ECOP), a Board of Trustee for the Philippine Food Exporters Confederation (Philexport), Honorary Chair and Senior Adviser for Philippines-Korea Business Council.

Aside from Mangio, the other

newly-elected directors are George T. Barcelon, president of the Integrated Computer Systems; Dr. William S. Co, chairman of William and Company Philippines Inc.; Ferdinand A. Ferrer, chairman and CEO of EMS Group of Companies; Byan Ang, vice president of CLMC Group Corp.; Samie Lim, president of BLIMS Lifestyle Group Inc.; Michael Tan, COO of Asia Brewery Inc.; Atty. Benedicta Du- Baladad, founding partner of Du Baladad and Associates; Philip G. Romualdez, president of Benguet Corp.; Jude Raymund Aguilar, president of Electronic Payment Inc., (ECPay); Edgardo G. Lacson, president of MIS Maritime Corp.; Arturo C. Guerrero III, president of Temps and Staffers Inc.; Ma. Alegria S. Limjoco, chairman of Phoenix Publishing Inc.; Joseph C. Sy, president of Platinum Group Metals Inc; and Anthony Dennis H. Uy, president of Converge ICT Solutions.

Also elected as directors were Dr. Hernando B. Delizo, CEO of Clinica Manila; (PCCI National Capital Region); Atty. Maria Amalia T. Cayanan, president of Centro Colegio de Tarlac (PCCI North Luzon); Sallie Lacson, president and general manager of SC Lacson Enterprises (PCCI South Luzon); Melanie C. Ng, president of Ng Khai Development Corp., (PCCI Visayas); and Elena U. Haw of PCCI Mindanao.

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Cebu Pacific: Deal with Bulgaria Air to beef up fleet in ’24

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udget carrier Cebu Pacific has officially signed a lease agreement with Bulgaria Air to beef up its fleet amid the anticipated rise in passenger demand next year.

Cebu Pacific will take delivery of the two Airbus A320 CEO jets from Bulgaria Air in January. The aircraft will be used for its Cebu and Davao operations until May 2024.

“We continue to explore various opportunities to supplement the fleet and ensure operational resilience. This includes signing a damp lease agreement with Bulgaria Air for five months in 2024,” said Cebu Pacific President and CEO Xander Lao. A damp lease is an agreement between two airlines where an aircraft is leased to an airline along with the crew and sometimes additional services, but without the provision of fuel.

The deal between Cebu Pacific and Bulgaria Air includes the aircraft, crew, maintenance, and insurance, also known as ACMI. “We expect to increase our fleet to 92 come end-2024.

With this, we expect our year-on-year seat growth to be within 5 percent to 8 percent in 2024,” Lao said.

The two leased A320ceo will each have a 180-seat capacity.

They are expected to help the carrier meet the increasing demand for air travel, which has been globally becoming challenging due to the engine supply issue with provider Pratt and Whitney.

Cebu Air Inc., the operator of Cebu Pacific, reported last month that it swung to profit in January to September on the back of the strong recovery of the travel market.

In its disclosure to the stock exchange, the operator of budget carrier Cebu Pacific reported the reversal of its P12.05-billion loss in 2022 to a net profit of P5.03 billion this year.

Revenues reached P66.90 billion, a 78.2-percent surge from P37.53 billion the year prior, as it recorded a significant increase in passenger volume due to the increased demand for travel, especially for international destinations as the group continues to ramp up its international network. International flights went up by 236.2 percent compared to same period last year.

Passenger revenues rose by 105.2 percent to P46.13 billion from P22.48 billion, as it grew passenger volume by 48.8 percent to 15.5 million passengers from 10.4 million passengers. Lorenz S. Marasigan

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Wednesday, December 6, 2023

Companies BusinessMirror

ACEN: Rockefeller Foundation, MAS to help retire coal plants

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By Lenie Lectura

@llectura

CEN Corp. is coordinating with The Rockefeller Foundation’s Coal to Clean Credit Initiative (CCCI) and the Monetary Authority of Singapore (MAS) to fast-track the phase out of coal plants in line with the Paris Agreement.

ACEN, CCCI and MAS are seeking to develop the world’s first Transition Credit, or the coal-to-clean pilot project, that would leverage carbon finance to phase out a coalfired power plant and replace it with renewable energy. This first-of-itskind project would mark a major step towards phasing out coal in line with the Paris Agreement.

“Today’s development marks a critical contribution to accelerating a global energy transition. Without a rapid and proactively managed transition away from coal-fired power, the world will not meet its climate goals; the urgency of solving this problem cannot be understated.

ACEN is proud to be working with The Rockefeller Foundation’s Coal to Clean Credit Initiative and the Monetary Authority of Singapore to develop this world-first project,” ACEN President Eric Francia said.

The power arm of conglomerate Ayala Corp. fully divested last year its coal plant subsidiary South Luzon Thermal Energy Corp. (SLTEC) through a mechanism that funds the transition from coal to renewables. The coal retirement was made through the energy transition mechanism (ETM). ACEN said this groundbreaking initiative could reduce 15 to 25 years’ worth of emis-

sions given that coal plants typically operate for 40-50 years.

“If the world does not break its overreliance on coal, current and planned coal-fired power plants will release 273 billion tons of carbon dioxide over their operational lifetimes and trigger a catastrophe for our planet and the people living on it,” said Dr. Rajiv J. Shah, President of the Rockefeller Foundation.

“To retire coal plants and avoid those emissions, we need to create the right incentives for asset owners and communities and mobilize additional finance. This innovative CCCI agreement will pilot a coalto-clean credit methodology in the Philippines, one critical step toward breaking that overreliance and building a better future.”

‘Transition credits’

Complementing this initiative is MAS’ Transition Credits Coalition (TRACTION) that will test the use of transition credits in early retirement of coal-fired power plants transactions. Supported by close to 30 members and knowledge partners across key stakeholder groups, TRACTION will study the challenges and propose solutions to scale the early retirement of coal-fired power plants in Asia.

PLDT chief will retire by end of 2023

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LDT Group President and CEO Alfredo S. Panlilio is retiring by the end of the year “due to health reasons,” prompting the return of Chairman Manuel V. Pangilinan as the company’s president and chief executive.

According to a disclosure to the Philippine Stock Exchange, the board of directors of the company has “accepted the retirement” of Panlilio, who they described as being “instrumental in steering the PLDT Group during the challenging times of the Covid-19 pandemic and enabling PLDT to sustain profitability and industry leadership in that difficult period.”

“I would like to thank Al profusely for his service and his loyalty and wish him the very best. I also enjoin everyone to support a smooth transition within the PLDT Group at this critical juncture of its corporate life,” Pangilinan said.

Panlilio succeeded Pangilinan in 2021, after Pangilinan started “searching” for his successor in 2017.

His leadership helped steer PLDT to better financial posi-

PLDT’s Al Panlilio

tions, allowing the company to end September with profits reaching P27.88 billion, higher than last year’s P27.50 billion.

With him as the telco’s captain, the company received “citations from both local and international organizations for pioneering brand, corporate social responsibility, cybersecurity, network and sustainability initiatives.”

He was also named CEO of the Year in 2022 with PLDT being recognized as one of the World’s Best Companies by Time Magazine in 2023.

Despite his retirement, Panlilio will remain as Director of PLDT, Smart, and MediaQuest Holdings, Inc., Chairman of Maya Bank and Bonifacio Communications Corp., Director of Multisys Technologies Cor p. and Mu ltiPay, President of MVP Sports Foundation, Trustee of Asian Carriers Conference, and Member of the Management Association of the Philippines.

Pangilinan will return as the company’s president and CEO by January 1, concurrent to his role as chairman. Lorenz S. Marasigan

“The economics of phasing out coal-fired power plants are challenging. There is a need for effective market-based financing solutions, including the use of transition credits to improve the economic case of retiring these plants early and we are pleased to collaborate with ACEN Corp. and Climate Smart Ventures to pilot the use of CCCI’s methodology,” said MAS Assistant Managing Director and Chief Sustainability Officer Gillian Tan. According to the International Energy Agency, to achieve a net zero scenario by 2050, power generation from coal power plants should be reduced by around 55 percent by 2030, from the 2022 level.

Southeast Asia, which has the fourth largest installed coal plant capacity globally, has among the world’s youngest coal fleet with an average age of under 15 years.

With strong electricity demand growth in key markets like Indonesia, Vietnam and the Philippines, reducing coal generation within the next two decades will be “a major challenge.”

“We need to replace that with a hybridized or what we call an integrated renewable energy storage system [IRESS] which is a combination of wind farm and solar with battery storage. About 1000MW and 4 to 6 hours of battery. That’s what we hypothesized, we need to deploy, to be operational by 2030 if we are to shut

MUTUAL FUNDS

down a coal plant by 2030 and that means we need to start building by 2027,” Francia said.

Transition credits will enable ACEN to increase its ambition of further accelerating the transition of SLTEC coal plant to clean technology as early as 2030. Also, transition credits will be an important mechanism to help ensure a just transition, ensuring affordability of the replacement energy as well as the just transition of the local community and the affected workers.

He said it would take roughly three years to build an IRESS which would entail an investment of about $1.5 billion, and the levelized cost of electricity could be about 40 to 50 percent higher than a baseload or mid-merit coal plant.

“There is an affordability gap. We need to address that through transition credits. The other gap is just transition. We need to decommission the plant responsibly, makes sure that it can’t be recommissioned at some point in future. Also, the just transition of communities, workers affected. All of those have to be reflected in the transition credit,” said Francia.

This pioneering energy transition initiative is in line with ACEN’s aspiration to reach 20 gigawatts of renewables by 2030, 100 percent renewable generation by 2025, and net zero greenhouse gas emissions by 2050 or earlier.

December 5, 2023

NAV One Year Three Year Five Year Y-T-D

per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 205.42 -0.3% -3.58% -4.5% -0.95% -1.49% ATRAM Alpha Opportunity Fund, Inc. -a 1.4114 5.88% 2.7% -0.11% 1.43% 5% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.849 -1.34% -3.48% -6.64% -2.68% -2.26% Climbs Share Capital Equity Investment Fund Corp. -a 0.6685 -3.03% -6.28% -6.02% n.a -4.4% First Metro Consumer Fund, Inc. -a 0.6208 -4.51% -6.38% -6.21% n.a -4.29% First Metro Save and Learn Equity Fund, Inc. -a 4.5113 -1.66% -3.31% -3.58% -0.71% -2.98% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6729 -3.12% -4.44% n.a n.a -4.02% MBG Equity Investment Fund, Inc. -a 82.61 10.49% -5.97% -6.5% n.a 9.69% PAMI Equity Index Fund, Inc. -a 41.7856 -2.2% -4.01% -3.83% n.a -3.25% Philam Strategic Growth Fund, Inc. -a 436.12 -0.74% -4.01% -3.82% -0.87% -1.86% Philequity Dividend Yield Fund, Inc. -a 1.17 -1.94% -0.04% -1.95% n.a -0.43% Philequity Fund, Inc. -a 32.8525 -0.5% -1.98% -2.7% 1.03% -1.33% Philequity MSCI Philippine Index Fund, Inc. -a 0.8432 0.5% -2.95% n.a n.a -0.66% Philequity PSE Index Fund, Inc. -a 4.3927 -1.2% -3.12% -3.01% 0.75% -2.29% Philippine Stock Index Fund Corp. -a 730.97 -1.29% -3.28% -3.09% 0.73% -2.4% Soldivo Strategic Growth Fund, Inc. -a 0.6646 -0.05% -3% -5.58% n.a -1.41% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2625 -1.94% -3.59% -4.95% -1.02% -3.28% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8289 -1.64% -3.59% -3.4% n.a -2.7% United Fund, Inc. -a 3.036 -1.24% -3.16% -3.37% 0% -1.87% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.029 -1.51% n.a n.a n.a -2.58% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,20.9934 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a 0.9924 -4.5% -3.04% n.a n.a -5.16% Philippine Stock Index Fund Corp. -a 887.23 -1.4% n.a n.a n.a -2.45% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c99.2344 -0.71% -2.93% -2.77% n.a -1.86% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.806 -7.63% -11.72% -3.87% -1.89% -5.4% Sun Life Prosperity World Voyager Fund, Inc. -a $1.598 6.82% -0.49% 5.41% n.a 12.22% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.4787 0.51% -3.79% -2.54% -1.73% -0.4% ATRAM Philippine Balanced Fund, Inc. -a 2.163 5.34% -1.84% -0.68% 0.18% 2.74% First Metro Save and Learn Balanced Fund, Inc. -a 2.4541 -1.22% -2.44% -0.93% -1.1% -2.05% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1867 -2.86% -2.2% n.a n.a -3.51% NCM Mutual Fund of the Phils., Inc. -a 1.9024 -0.07% -1.21% 0.39% 1.17% 0.82% PAMI Horizon Fund, Inc. -a 3.4911 2.11% -2.78% -0.57% 0.33% 1.49% Philam Fund, Inc. -a 15.2997 1.29% -3.43% -1.09% 0% 1.05% Solidaritas Fund, Inc. -a 1.9977 1% -1.67% -0.98% 0.88% 0.56% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3391 1.06% -2.3% -2.25% -0.41% 0.29% Sun Life Prosperity Dynamic Fund, Inc. -a 0.881 1.45% -0.34% -1.44% n.a 0.24% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9292 2.48% -3.17% n.a n.a 1.53% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8247 0.08% -4.87% n.a n.a -1.3% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8036 -0.96% -5.16% n.a n.a -2.3% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03236 -0.71% -6.14% -1.51% -0.11% -0.12% PAMI Asia Balanced Fund, Inc. -b $0.8795 -2.45% -7.83% -1.84% -1.4% 4.7% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1267 3.5% -2.04% 3.11% 2.73% 7.3% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0023 0.76% -4.39% 0.25% n.a 3.16% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 389.37 3.4% 1.72% 2.59% 2.16% 3.01% ATRAM Corporate Bond Fund, Inc. -a 1.906 1.76% 0.15% 0.56% -0.03% 1.66% Cocolife Fixed Income Fund, Inc. -a 3.3206 2.88% 1.13% 2.32% 3.77% 3.48% Ekklesia Mutual Fund, Inc. -a 2.2643 4.56% -0.4% 1.25% 1.21% 3.61% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4436 2.23% -0.03% 2.07% 1.09% 2.2% Philam Bond Fund, Inc. -a 4.2608 2.35% -2.72% 1.74% 0.65% 2.92% Philam Managed Income Fund, Inc. -a 1.3696 3.74% 1.32% 3.05% 1.74% 3.8% Philequity Peso Bond Fund, Inc. -a 4.001 4.14% 0.25% 2.75% 1.41% 3.42% Soldivo Bond Fund, Inc. -a 1.0467 2.85% 0.34% 3.27% n.a 2.96% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2879 4.58% 1.05% 3.5% 1.96% 4.52% Sun Life Prosperity GS Fund, Inc. -a 1.7572 3.82% 0.28% 2.69% 1.34% 3.63% Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3 1.0032 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $492.44 2.74% 0.66% 1.94% 2.48% 2.57% ALFM Euro Bond Fund, Inc. -a Є212.72 1.29% -0.92% 0.02% 0.77% 1.45% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0231 1.09% -6.92% -1.86% -0.01% 1.36% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0244 2.52% -2.71% -0.4% n.a 2.95% PAMI Global Bond Fund, Inc. -b $0.8421 -2.74% -8.3% -3.89% -3.25% -6.43% Philam Dollar Bond Fund, Inc. -a $2.2346 2.42% -4% 0.76% 1.62% 2.5% Philequity Dollar Income Fund, Inc. -a $0.0608155 1.84% -0.73% 1.32% 1.57% 1.87% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7144 -1.85% -5.37% -1.1% 0.23% -0.26% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.53 2.64% 1.75% 2.53% 2.02% 2.46% First Metro Save and Learn Money Market Fund, Inc. -a 1.1057 3.2% 1.83% n.a n.a 2.99% Sun Life Prosperity Peso Starter Fund, Inc. -a 1.3726 2.75% 1.96% 2.46% 1.99% 2.56% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.25 4.05% n.a n.a n.a 3.76% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0941 2.4% 1.33% 1.52% n.a 2.33% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 41.9238 -4.19% n.a n.a n.a -1.77% Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.4054 9% 8.51% n.a n.a 14.07% Sun Life Prosperity World Income Fund, Inc. -a,1 0.9712 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.781 -3.43% -6.97% n.a n.a -1.14%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Launch date is August 22, 2023.

2 - Launch date is October 6, 2023.

3 - Launch date is May 25, 2023.

“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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PSE STOCK QUOTATIONS

December 5, 2023

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

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

46.7 131.5 105.7 29.8 7.85 50.5 8.5 18.42 55.6 22.35 69 56.25 1.41 2.58 2.7 0.6 0.086 953 0.36 168.1 0.77

46.95 131.7 106 30 7.94 50.55 8.6 18.46 55.8 22.85 69.05 56.3 1.43 2.68 2.8 0.61 0.119 1,050 0.4 172 0.81

45.9 131.5 105.7 30.25 7.94 51.3 8.85 18.52 55.8 22.35 69 56.5 1.43 2.69 2.71 0.6 0.12 1,050 0.365 172.9 0.8

46.95 131.7 106.1 30.25 7.95 51.55 8.85 18.52 55.8 22.85 69.55 56.5 1.43 2.69 2.71 0.63 0.12 1,050 0.365 172.9 0.8

45.5 130 104.5 29.8 7.75 50.35 8.5 18.46 55.8 22.35 68.75 56 1.43 2.58 2.7 0.5 0.119 1,050 0.365 168 0.8

46.7 131.7 106 29.8 7.94 50.5 8.5 18.46 55.8 22.85 69 56.25 1.43 2.58 2.7 0.61 0.119 1,050 0.365 168 0.8

14,500 1,417,910 2,410,980 117,200 45,800 1,682,910 26,300 49,400 550 1,100 53,520 36,210 2,000 120,000 20,000 275,000 40,000 5 150,000 2,150 1,000

672,540 185,452,437 254,669,061 3,532,420 360,768 85,033,591.50 223,585 913,548 30,690 24,635 3,698,677 2,035,811 2,860 314,430 54,110 142,660 4,780 5,250 54,750 361,445 800

INDUSTRIAL

ACEN CORP 4.67 4.69 ALSONS CONS 0.54 0.55 ALTERNERGY HLDG 0.74 0.76 ABOITIZ POWER 37.35 37.55 RASLAG 1.15 1.2 BASIC ENERGY 0.177 0.182 FIRST GEN 16.62 16.74 FIRST PHIL HLDG 61 61.5 MERALCO 366.4 367 MANILA WATER 18.1 18.2 PETRON 3.4 3.41 PETROENERGY 4.34 4.58 PHX PETROLEUM 4.9 5.15 REPOWER ENERGY 6.68 6.99 SYNERGY GRID 6.09 6.18 SHELL PILIPINAS 11.5 11.52 SPC POWER 7.25 7.28 SP NEW ENERGY 1.16 1.17 AGRINURTURE 1.16 1.17 AXELUM 2.22 2.23 CNTRL AZUCARERA 10.54 11.48 CENTURY FOOD 31.3 31.45 DEL MONTE 7.05 7.24 DNL INDUS 6.1 6.11 EMPERADOR 20.75 20.8 SMC FOODANDBEV 48.9 48.95 FIGARO COFFEE 0.62 0.63 FRUITAS HLDG 1.01 1.03 GINEBRA 160.3 162 JOLLIBEE 242 245 KEEPERS HLDG 1.45 1.46 MAXS GROUP 3.13 3.14 MG HLDG 0.096 0.1 MONDE NISSIN 8.23 8.3 SHAKEYS PIZZA 9.4 9.5 ROXAS AND CO 0.47 0.5 RFM CORP 2.92 2.94 UNIV ROBINA 113.3 113.8 VITARICH 0.485 0.5 CEMEX HLDG 0.75 0.78 EC VULCAN CORP 0.68 0.72 EEI CORP 5.73 5.75 MEGAWIDE 3.04 3.09 PHINMA 20 20.2 TKC METALS 0.46 0.5 CROWN ASIA 1.52 1.58 EUROMED 0.78 0.81 LMG CORP 2.9 3.28 PRYCE CORP 5.19 5.2 GREENERGY 0.255 0.26 INTEGRATED MICR 3.41 3.42 IONICS 0.99 1 PANASONIC 4.58 4.94 SFA SEMICON 1.93 2.04 CIRTEK HLDG 1.59 1.61

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT KEPPEL HLDG A LOPEZ HLDG LT GROUP PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP

0.93 2.92 657.5 47.6 9.61 11.1 4.48 9.22 5.08 552 38.65 4.6 4.31 8.73 2.77 822.5 107.6

0.94 3.97 661 49 9.62 11.3 4.55 9.29 5.19 554 39 6.09 4.4 8.75 2.82 823.5 108.9

4.76 0.6 0.75 37.65 1.18 0.183 16.56 61.85 370 18 3.37 4.41 4.65 7 6.2 11.62 7.22 1.22 1.09 2.17 11.48 31 7.11 6.13 20.9 49.5 0.63 1.02 167 245 1.45 3.15 0.09 8.16 9.36 0.48 2.94 114.2 0.51 0.81 0.68 5.7 3.03 20 0.415 1.52 0.86 2.9 5.3 0.249 3.41 0.98 4.94 2.05 1.59

4.76 0.6 0.76 37.65 1.2 0.183 16.96 61.85 370 18.26 3.4 4.57 5.15 7 6.3 11.62 7.25 1.23 1.19 2.24 11.5 31.5 7.25 6.2 20.9 49.8 0.63 1.03 167 246.8 1.46 3.15 0.096 8.3 9.4 0.5 2.94 115 0.51 0.81 0.68 5.75 3.1 20.2 0.495 1.52 0.86 3.28 5.31 0.255 3.42 1.02 4.94 2.05 1.61

4.66 0.55 0.73 37.1 1.13 0.177 16.56 61 365.2 18 3.37 4.4 4.65 6.69 6.08 11.5 7.22 1.16 1.09 2.17 11.48 30.5 7.05 6.08 20.65 48.9 0.61 1.01 162 240.6 1.45 3.13 0.09 8.06 9.36 0.465 2.93 113 0.475 0.75 0.68 5.69 3.03 20 0.41 1.52 0.77 2.9 5.2 0.248 3.41 0.97 4.94 1.95 1.59

4.69 0.55 0.76 37.35 1.2 0.177 16.62 61 367 18.2 3.4 4.57 5.15 6.99 6.18 11.52 7.25 1.17 1.17 2.24 11.5 31.3 7.05 6.1 20.8 48.95 0.62 1.03 162 245 1.45 3.14 0.096 8.3 9.4 0.5 2.94 113.8 0.485 0.75 0.68 5.75 3.03 20 0.495 1.52 0.81 3.28 5.2 0.255 3.42 1 4.94 2.04 1.61

6,640,000 216,000 302,000 736,500 195,000 840,000 867,200 450 158,240 316,900 457,000 9,000 23,100 4,800 1,242,300 15,400 35,100 36,378,000 10,510,000 257,000 5,300 3,263,400 3,800 3,353,900 777,000 46,600 1,448,000 1,349,000 15,820 732,230 120,000 251,000 210,000 4,379,400 105,000 256,000 913,000 2,165,830 288,000 425,000 183,000 473,100 87,000 54,300 40,000 1,000 76,000 30,000 626,000 34,020,000 26,000 410,000 2,000 386,000 257,000

31,131,950 120,270 225,520 27,586,385 227,210 149,190 14,428,152 27,558.50 58,051,890 5,739,516 1,542,910 39,880 116,088 32,876 7,681,662 177,942 254,435 42,626,690 12,198,990 564,070 60,930 101,533,200 27,256 20,473,275 16,155,350 2,284,385 891,450 1,363,510 2,580,222 177,870,174 174,030 789,320 19,460 35,990,833 986,966 121,440 2,678,700 246,547,094 139,700 320,620 124,440 2,704,412 267,880 1,090,060 17,300 1,520 61,600 88,970 3,266,170 8,625,880 88,800 411,800 9,880 778,920 411,130

-4,671,460 3,990.00 36,500 -5,751,765 -5,740,112 -2,440 -15,871,672 3,709,766 -9,270 442,120 8,120 -98,600 15,041,160 -675,210 -35,240 7,493,530 1,395,609 -14,672,675 -1,557,270 -74,480 -1,800,115 34,467,214 -217,350 7,200 -9,315,133.00 981,350 -88,500 -175,880 -174,074,146 -3,030 42,460 102,637 -1,693,200 -75,140 81,000 -

0.97 2.99 659 47.9 9.8 11.36 4.54 9.35 5.19 558 39 6.1 4.31 8.78 2.78 832.5 108

0.98 2.99 661 49 9.9 11.36 4.59 9.38 5.19 560 39 6.1 4.4 8.87 2.83 834.5 109

0.93 2.99 646 46.8 9.6 11.1 4.48 9.21 5.19 546 38.55 6.09 4.31 8.73 2.78 821 107.1

0.93 2.99 661 49 9.62 11.1 4.48 9.29 5.19 552 39 6.09 4.31 8.75 2.83 823.5 108.9

5,682,000 45,000 282,700 672,700 972,800 12,700 97,000 1,431,300 100 59,640 767,300 300 22,000 1,328,700 58,000 232,880 89,870

5,328,340 134,550 185,608,770 32,360,380 9,373,437 143,010 436,170 13,259,813 519 32,854,580 29,871,095 1,828 95,720 11,659,318 161,590 191,772,955 9,756,844

709,870 -3,272,590 7,041,545 -4,239,524 -332,890 -1,446,869 -17,881,525 7,504,825 -17,420 2,667,164.00 -60,435,165 4,063,357

PROPERTY AYALA LAND 31.05 31.1 31 31.65 30.65 31.05 10,703,600 332,560,430 AYALA LAND LOG 1.62 1.63 1.62 1.63 1.62 1.63 224,000 363,280 ARANETA PROP 1.02 1.05 1.08 1.1 1.02 1.05 1,889,000 1,960,660 AREIT RT 31.15 31.2 30.8 31.5 30.75 31.2 1,344,000 41,801,665 A BROWN 0.62 0.65 0.65 0.65 0.64 0.64 23,000 14,750 CROWN EQUITIES 0.057 0.069 0.07 0.07 0.07 0.07 10,000 700 CEB LANDMASTERS 2.51 2.54 2.52 2.54 2.5 2.54 87,000 218,180 CENTURY PROP 0.3 0.305 0.3 0.305 0.3 0.305 470,000 141,450 CITICORE RT 2.53 2.54 2.53 2.55 2.52 2.54 1,906,000 4,835,040 DOUBLEDRAGON 8.1 8.13 8.07 8.19 8.06 8.1 182,000 1,479,638 DDMP RT 1.19 1.2 1.21 1.22 1.15 1.2 3,092,000 3,677,690 DM WENCESLAO 6.23 6.26 6.25 6.25 6.25 6.25 31,000 193,750 EMPIRE EAST 0.122 0.124 0.128 0.133 0.121 0.122 1,720,000 219,320 EVER GOTESCO 0.28 0.295 0.275 0.295 0.275 0.295 1,280,000 366,800 FILINVEST RT 2.75 2.76 2.76 2.76 2.73 2.75 2,115,000 5,809,490 FILINVEST LAND 0.55 0.56 0.57 0.58 0.55 0.56 8,698,000 4,893,590 GLOBAL ESTATE 0.74 0.76 0.74 0.74 0.74 0.74 20,000 14,800 8990 HLDG 8.5 9.13 9.02 9.14 8.51 9.14 35,200 317,975 PHIL INFRADEV 0.51 0.55 0.51 0.56 0.51 0.56 92,000 51,320 CITY AND LAND 0.75 0.77 0.77 0.77 0.77 0.77 8,000 6,160 MEGAWORLD 2 2.02 2.02 2.03 2 2 11,267,000 22,603,390 MRC ALLIED 1.38 1.4 1.41 1.41 1.36 1.4 54,000 74,940 MREIT RT 12.16 12.28 12.04 12.46 12.04 12.16 284,300 3,454,220 PREMIERE RT 1.52 1.54 1.54 1.54 1.54 1.54 7,000 10,780 PRIMEX CORP 2.4 2.5 2.49 2.49 2.49 2.49 1,000 2,490 RL COMM RT 4.75 4.79 4.75 4.79 4.73 4.75 2,319,000 11,014,430 ROBINSONS LAND 15 15.06 15.06 15.18 15 15 3,173,700 47,940,726 ROCKWELL 1.35 1.4 1.41 1.41 1.41 1.41 1,000 1,410 SHANG PROP 3.65 3.69 3.62 3.65 3.62 3.65 56,000 204,370 STA LUCIA LAND 3.25 3.39 3.3 3.3 3.3 3.3 10,000 33,000 SM PRIME HLDG 33.1 33.35 33.05 33.35 32.8 33.35 3,757,900 124,737,340 SOC RESOURCES 0.38 0.415 0.38 0.38 0.38 0.38 40,000 15,200 VISTAMALLS 2.25 2.45 2.45 2.45 2.45 2.45 6,000 14,700 VISTA LAND 1.63 1.64 1.68 1.69 1.64 1.64 1,816,000 3,003,450 VISTAREIT RT 1.68 1.69 1.69 1.69 1.68 1.69 235,000 396,950

SERVICES ABS CBN 3.7 3.73 3.75 3.75 3.67 3.73 163,000 604,740 GMA NETWORK 8.29 8.3 8.29 8.3 8.29 8.3 188,600 1,564,647 MANILA BULLETIN 0.203 0.239 0.23 0.23 0.23 0.23 10,000 2,300 GLOBE TELECOM 1,726 1,727 1,733 1,734 1,723 1,727 5,700 9,840,510 PLDT 1,260 1,276 1,270 1,276 1,250 1,276 37,135 46,950,655 APOLLO GLOBAL 0.014 0.015 0.014 0.015 0.014 0.015 143,000,000 2,009,700 CONVERGE 8.12 8.2 8.35 8.36 8.07 8.12 11,669,900 95,240,362 DFNN INC 3.02 3.2 3.02 3.02 3.02 3.02 6,357,000 19,198,140 DITO CME HLDG 2.25 2.27 2.32 2.32 2.24 2.25 4,992,000 11,319,930 NOW CORP 1.1 1.12 1.12 1.14 1.08 1.12 499,000 550,660 TRANSPACIFIC BR 0.132 0.141 0.131 0.142 0.131 0.142 410,000 54,190 ASIAN TERMINALS 15.4 15.74 15.4 15.4 15.4 15.4 2,000 30,800 CHELSEA 1.35 1.37 1.28 1.37 1.28 1.37 399,000 535,400 CEBU AIR 32.05 32.2 32.7 32.7 31.8 32.2 357,600 11,511,640 INTL CONTAINER 227.4 228.8 220 228.8 218.6 228.8 1,580,390 354,976,448 LORENZO SHIPPNG 0.55 0.67 0.55 0.55 0.55 0.55 2,000 1,100 MACROASIA 4.09 4.1 4.1 4.12 4.09 4.1 195,000 799,230 PAL HLDG 5.13 5.27 5.43 5.43 5.1 5.1 7,800 39,846 ACESITE HOTEL 1.75 1.85 1.75 1.75 1.75 1.75 3,000 5,250 DISCOVERY WORLD 1.04 1.2 1.2 1.2 1.2 1.2 1,000 1,200 CENTRO ESCOLAR 8.5 8.8 8.8 8.8 8.8 8.8 100 880 IPEOPLE 6.6 7.3 6.99 6.99 6.62 6.62 5,000 33,470 STI HLDG 0.46 0.465 0.465 0.465 0.46 0.465 3,130,000 1,453,150 BELLE CORP 1.17 1.18 1.19 1.19 1.18 1.18 30,000 35,500 BLOOMBERRY 9.55 9.59 9.65 9.65 9.5 9.55 7,873,400 75,321,346 PACIFIC ONLINE 3.05 3.14 3.05 3.16 3.04 3.14 45,000 137,420 PH RESORTS GRP 1.03 1.04 0.94 1.04 0.86 1.04 14,366,000 13,677,040 PREMIUM LEISURE 0.59 0.6 0.59 0.6 0.59 0.6 1,061,000 626,000 DIGIPLUS 6.47 6.5 6.51 6.59 6.48 6.48 622,500 4,048,731 PHIL RACING 5.18 7.21 7.21 7.21 7.21 7.21 100 721 PHILWEB 1.74 1.82 1.73 1.83 1.73 1.83 5,000 8,750 ALLDAY 0.157 0.158 0.161 0.161 0.156 0.158 4,880,000 774,390 ALLHOME 1.13 1.15 1.13 1.15 1.11 1.15 1,064,000 1,196,780 METRO RETAIL 1.18 1.23 1.17 1.22 1.17 1.22 53,000 64,610 PUREGOLD 27.65 27.7 27.6 28.55 27.6 27.7 2,466,300 68,733,650 ROBINSONS RTL 40.35 40.45 40.95 40.95 40.25 40.45 125,600 5,082,105 PHIL SEVEN CORP 71.3 80 76.5 76.5 76.5 76.5 70,910 5,424,615 SSI GROUP 2.61 2.66 2.69 2.74 2.61 2.61 217,000 569,360 UPSON INTL CORP 1.61 1.67 1.71 1.71 1.63 1.65 66,000 108,930 WILCON DEPOT 20.15 20.25 20.35 20.35 20.05 20.25 1,404,300 28,457,250 APC GROUP 0.226 0.228 0.225 0.229 0.225 0.229 3,730,000 839,670 IPM HLDG 3.5 4.5 3.65 3.65 3.54 3.54 5,000 17,980 MEDILINES 0.325 0.33 0.325 0.33 0.325 0.33 130,000 42,450 PRMIERE HORIZON 0.166 0.167 0.165 0.17 0.165 0.167 450,000 74,780

MINING & OIL APEX MINING 2.86 2.87 2.93 2.94 2.85 2.86 5,515,000 15,942,240 ATLAS MINING 3.45 3.5 3.45 3.5 3.45 3.5 356,000 1,233,170 BENGUET A 4.86 4.98 4.83 5.03 4.83 4.98 57,600 285,303 BENGUET B 4.94 5.3 5.48 5.48 4.94 5.4 29,000 149,564 CENTURY PEAK 3.11 3.15 3.11 3.15 3.11 3.15 26,000 81,860 FERRONICKEL 2.34 2.35 2.32 2.36 2.32 2.34 178,357,000 413,817,650 LEPANTO A 0.085 0.09 0.088 0.092 0.085 0.09 1,680,000 149,410 LEPANTO B 0.083 0.088 0.082 0.082 0.082 0.082 400,000 32,800 MANILA MINING B 0.0051 0.0052 0.0051 0.0051 0.0051 0.0051 2,000,000 10,200 MARCVENTURES 1.02 1.04 1.02 1.05 1.02 1.04 100,000 102,990 NICKEL ASIA 5.14 5.16 5.28 5.28 5.1 5.14 487,600 2,510,577 ORNTL PENINSULA 0.65 0.68 0.65 0.7 0.65 0.68 58,000 37,780 PX MINING 3.08 3.1 3.13 3.15 3.1 3.1 987,000 3,067,380 SEMIRARA MINING 29.2 29.25 29.15 29.4 29.05 29.2 631,500 18,461,515 ENEX ENERGY 4.2 4.36 4.32 4.37 4.2 4.2 51,000 216,650 PHILODRILL 0.0078 0.0082 0.0082 0.0082 0.0082 0.0082 1,000,000 8,200 PXP ENERGY 3.39 3.49 3.6 3.7 3.36 3.49 610,000 2,121,700

PREFFERED ACEN PREF A 1,016 1,038 1,016 1,016 1,016 1,016 100 101,600 ACEN PREF B 1,070 1,074 1,060 1,073 1,060 1,073 1,525 1,626,270 AC PREF AR 2,500 2,502 2,500 2,500 2,500 2,500 1,580 3,950,000 AC PREF B2R 487 490 490 490 487 487 5,200 2,533,000 BRN PREF A 96.1 98 98 98 98 98 120 11,760 CEB PREF 31.4 31.8 31.4 31.4 31.4 31.4 19,000 596,600 DD PREF 91.25 92 92 92 91.2 92 1,750 160,912 EEI PREF B 96 96.7 96 96.7 96 96.7 760 72,967 JFC PREF A 950 959.5 950 950 950 950 20 19,000 JFC PREF B 925 930 925 925 925 925 10 9,250 MWIDE PREF 4 91.25 93.8 93.8 93.8 93.8 93.8 100 9,380 PNX PREF 3B 23.15 25.95 26.95 26.95 26.95 26.95 100 2,695 PCOR PREF 3A 970.5 994 975 975 970 970 1,100 1,067,250 PCOR PREF 3B 975 980 985 985 980 980 630 620,000 SMC PREF 2F 71.7 73 73 73 72.95 72.95 51,560 3,762,130 SMC PREF 2I 70.5 72 72.9 72.95 72 72 29,780 2,147,652 SMC PREF 2J 66.35 67.95 68 68 66.25 66.25 2,290 151,866 SMC PREF 2L 75.3 76.95 75.3 76.95 75.3 76.95 14,640 1,102,788 SMC PREF 2N 75.5 77 77 77 75.5 75.5 1,690 128,630 SMC PREF 2O 76 76.45 76.7 76.7 76.1 76.1 4,560 348,695

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

3.29 7.59

3.59 3.59 3.59 3.59 3.59 2,000 8.79 7.59 7.59 7.59 7.59 300

0.242

0.355

-50,640 -1,479,693 -129,320,739 -940,110 -132 6,682,679.50 -53,580 -30,690 -22,350 -451,715.50 -1,158,286 -233,730 36,960 -800

-

-

-

-

-

44,320,005 12,946,815 -39,000 1,109,890.00 -59,182 -63,500 -193,750 881,660 -2,163,130.00 -14,800 -8,923,000 -836,894.00 -4,156,470 15,376,854 45,695,400.00 -1,082,650 1,690 -2,450,880 5,476,695 -1,409,000 18,367,853 20,270 23,580 98,595 205,730,556 -135,410 50,900 -35,294,248 -964,480 430,110 983,270 42,930 -241,480 16,944,000 -4,686,915 -4,458,420 -553,210 -100,500 -14,336,030 -789,750 3,300 1,180,460 81,860 -96,738,450 -10,200 -1,567,577 1,245,050 -3,230,530 -316,430 -2,435,000 -314,000 -680 -

7,180 2,277 -

-

SMALL, MEDIUM & EMERGING

0.98 1.03 0.98 1 1,670,000 1,662,420 0.66 0.68 0.65 0.68 69,000 45,340 1.53 1.53 1.52 1.52 6,000 9,170 1.03 1.04 1.02 1.03 625,000 641,220 0.196 0.2 0.195 0.195 250,000 49,380

EXHANGE TRADE FUNDS

99.2 99.6 98.5 99.6 22,740 2,249,248 -432,312

HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

FIRST METRO ETF

0.99 0.65 1.52 1.03 0.182 99

1 0.68 1.79 1.04 0.195 99.6

5,100 -

www.businessmirror.com.ph

Entrepreneur

TVI program aims to hone entrep skills of Toledo folks

By Roderick L. Abad

@rodrik_28

Contributor

T

HERMA Visayas Inc. (TVI), the operator of AboitizPower’s power plant in Toledo City, recently launched “Project T3,” which stands for TechVoc-Tesda-Training, a community skills training program aimed at addressing unemployment, while promoting entrepreneurship in the company’s host communities.

This initiative benefitting select residents of Barangays Bato and Cabitoonan will provide technical vocational training in NC-II Shielded Metal Arc Welding (SMAW) and NC-II Pipefitting plus NC-II Bread and Pastry Production in connection with a Community Bakery project. TVI also sponsored the assessment fees for NC-II certifications.

“Toledo City, an industrial hub, needs a skilled workforce.

The graduates of this skills training course would be ‘jobready,’” said TVI Facility Head Noel Cabahug. “It is the objective of Project T3 to increase the hiring potential of the participants so that they can contribute immediately to a more vibrant Toledo economy.”

Toledo City Mayor Marjorie “Joie” Perales commended the program. She said: “Our profound thanks to TVI and the Aboitiz Foundation, Tesda (Technical Education and Skills Development Authority) and CTU (Cebu Technological University). The T3 program is very relevant and timely indeed, as it directly supports and promotes the economy of Toledo City as a vital cog in the growth of Cebu and Central Visayas.”

In its launch phase, the T3 initiative will ensure quality technical training and workshops for 100 beneficiaries. It banks on practical training and current industry trends, thus making it highly relevant and attuned to market requirements towards gainful employment while developing the skills of enterprising individuals.

Leading the efforts to provide industry-standard training in various skills such as welding, scaffolding and commercial baked goods production is project partner Engr. Redjie Arcadio, campus director of CTU. “These skills are actually in demand and thus highly marketable. Our end goal is gainful permanent employment for our T3 program participants. Thus, much consideration has gone into identifying and developing skills training programs that supply the human resources needs of the market and industry,” he said.

“We have high hopes for Project T3 because of the virtuous cycle it creates—with each and every progress the program achieves, the greater sustainability we promote in terms of the increased living standards and the economy of Toledo,” Cabahug added.

Running a state-of-the-art power plant certified in five ISO standards—Quality Management, Occupational Health and Safety, Environmental Management, Asset Management, and Business Continuity Management—TVI is focused on creating a positive impact on its host communities.

Its 340-megawatt baseload power plant in Barangay Bato, Toledo City is pivotal in providing electricity to residents and business communities in the region, supporting Cebu’s rapid economic growth.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, December 6, 2023 B3

Avon gifts Grab drivers’ wives power to earn, learn this Christmas season

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von, a pioneer in championing women’s causes for over 135 years, released The Global Progress for Women Report earlier this year, which revealed that 90 percent of Filipino women to increase their income.

However, entrepreneurship barriers impact them significantly with 52 percent, citing lack of confidence and 79 percent identifying Inadequate financial resources, as obstacles to starting a business. In line with its commitment to women’s financial independence, Avon spotlights unsung heroes during the holiday sea-

son—delivery riders.

On November 26, 2023, Avon partnered with Grab for the Buwan ng Tagapaghatid celebration offering a three-part financial independence upskilling program to 3,000 attendees, specifically targeting Grab drivers’ wives, female riders and family members.

Grab Philippines’ Head of Operations CJ Lacsican shares, “Grab has always been dedicated to the upward social mobility of our independent driver and delivery-partners. We forge connections with organizations that share our vision of supporting their ambitions. Partnering with Avon is an honor, and together, we aim to empower our partners and their families to enhance their entrepreneurial skills.

We are confident that this collaboration will open up new avenues of opportunity as they progress in their livelihood journey with Grab.”

Quilin Biasbas, Avon Philippines’ Head of Sales, explained how empowering women is at the core of everything Avon does. “With every product sold, we’re able to create better future for women—helping female entrepreneurs thrive, supporting causes relevant to them,

and providing opportunities to be financially independent.”

Avon Representatives Febbie Enerva and Jinky Torres also shared personal success stories, emphasizing the fulfillment of having a thriving business and contributing to their families’ well being.

The activity resonated to the attendees, some finding inspiration in the successful stories of Enerva and Torres. One participant even expressed delight in the simplicity of setting up an Avon business, “thanks to their world-class yet affordable products and flexible working hours.

I still have control over my time.”

This yuletide season, Avon invites everyone to not just gift with love but instead, gift with power. By simply choosing a gift from Avon—from skincare sets, fragrance coffrets, and vibrant makeup collection—

every sale supports women all over the world. And by joining Avon as a Representative, you’re able to gift yourself the power to be financially independent. Either choice you make is a winning one.

As Kristof Neirynck, Avon’s Global Chief Marketing Officer said: “This festive season, we continue to celebrate women. When you buy an Avon beauty gift set, you’re not just gifting with love, you’re gifting with power. Because when you buy from Avon, we invest in millions of women and girls across the world, helping them to learn, earn and embrace their power. How many gifts can do that?”

Shop Avon’s perfectly priced holiday gift sets on avonshop.ph/collections/gifting-2023, through your local Avon representative, or visit Lazada, Shopee, and TikTok Shop.

Riding the rise of digital transport solutions in post-pandemic era

W

ITH the rise of “revenge travel” or as mobility resumes to normal postpandemic, vehicles for rent are now in-demand, especially for those who are practical or still short of owning a car given its high cost of ownership, unabated oil price hike and other maintenance fees that come with it.

Seeing an opportunity to bridge the operators to prospective clients, 24-year-old entrepreneur Garry Sales Jr. thought of putting up a digital car rental solution that could provide a safe, efficient, convenient, economical and ecological mode of transportation.

“I have a lot of friends whose cars were about to be confiscated because they could no longer pay for their monthly dues. So I thought of why not utilize their cars for business so that they could cover up their monthly fees needed to retain the car they are still paying,” he told the BusinessMirror on the sidelines of their media briefing held in Alabang, Munlinlupa City.

“I think it’s more advantageous to those who still have no means yet to own a car. Given their not-so-good status in life, they can still experience a lavish lifestyle to drive or ride on a car that they can afford to lease,” he continued.

After studying web-based car rental channels, he partnered with a fellow millennial app developer WeRide Philippines OPC came into being

just this year. Following its registration with the Securities and Exchange Commission on March 30, this platform provider became operational in June and has since then became a “go-to” marketplace that offers a full range of lease vehicle services including self-drive, with chauffeur, and courier throughout Metro Manila and other parts of the country.

How it works

TRIED and tested for a year, WeRide is a Software Program Application that has been proven 100 percent efficient, per the owner.

For individual automobile owners or car rental companies/operators, onboarding on the platform is for free. Accepted car models are from 2015 up to the present.

With the app, they can monitor real time their daily sales through the WeRide Payment Plartform Partner’s Dashboard, with a weekly remittance directly to any nominated bank account. They can also opt the frequency and days of renting out their cars.

WeRide only gets a convenience fee of P600 per rental rate. On the average, operators can earn around P15,000 to P28,000 a month for a passenger car if booked 20 days or more.

Renters, on the other hand, can choose from sedans to SUVs and vans, depending on their requirements and budgets. Their booked vehicle is delivered by the owner or operator to their house in good oper-

Become a people-magnet

A

re you running out of prospects? If you are, you’re certainly not alone.

Plenty of sales professionals actually find themselves in similar situations—they also run out of sales prospects. This usually occurs because they tend to rely mostly on “low-hanging fruits” and their “primary market blinders.” Low-hanging fruits are the people closest to them like family and friends, while primary market blinders are their usual “go to” market segments.

So what do you do to avoid running low on sales prospects? Learn to

attract people towards you. In other words, become a people-magnet!

But how do you do this? The answer is simple. Be interesting and likable.

And use your different personas because after all, who you are is whom you attract.

Yes, we all tend to like those who are similar to us because we find them interesting. The idea seems amusing, yet it’s true. This is referred to as similarity-attraction effect where people like or are attracted to others who are similar to themselves. It’s like what the old adage says “birds of the same feathers flock together.”

MILLENNIAL entrepreneur Garry Sales Jr.

ating condition, carwashed and fulltank. The same policy applies upon return to the car owners.

WeRide offers a fixed rate of P2,000 (app’s convenience rate and operator’s fee) for a self-drive of any vehicle type from sedan to the premium cars and unlimited mileage for 24 hours. Additional fee is applied beyond the rental duration.

With chaffeur, there’s an additional P1,000 daily charge within the operator’s city route, plus P500 outside the area. Gas and toll fees are covered by the users.

For safety of both the operators and clients, registered WeRide vehicles have tailored-fit commercial Gwendolyn Seidman of Psychology Today shares the same observation and gave several reasons for these. n Consensual validation—we feel more confident knowing that another person shares the same passion. n Cognitive evaluation—we feel that the other person has other positive traits because of the fact that we already share a few positive traits. n Certainty of being liked—we assume that a person who shares a lot in common with us, will also like us. n Fun and enjoyable interactions—it’s just more fun to hangout with someone when you have a lot in common. n Self-expansion opportunity— we perceive that we can learn more if we hangout with people who are similar to us. Now that you know the secret of being interesting and likable, start making an inventory of your persona. Dig deep and look at your age, generation, gender, background, passions, hobbies, schools attended, places visited, music genres, favorite movies, travels, values, investments, dreams, aspirations and belief systems. There can be more. Make a list.

Then match any of these to your clients.

Let’s look at how some of these

insurance that covers LTO-related issues up to unwanted incidents like a car theft, courtesy of insurers Standard and Etiqa.

“We are one of the bests when it comes to security measures and our [value for money] offers,” Sales said.

Huge demand

STARTING with just 15 operators, WeRide now has 110 partner-lessors with more than 250 cars. Initially present in the National Capital Region (NCR), it has expanded to Cavite, Laguna, Batangas, Bulacan, Baguio, Quezon Province, Bicol, and Cebu.

“For six months, we’ve constantly personas work.

Age and Generation. This is the usual area of similarity and attraction. A particular age, like Gen-X, millennials, and Gen-Z, identify themselves within the same generation because they may have similar influences and experiences.

The prevailing fashion, food, movies, and other trends during that period usually bind people within the same age groups and generation together, as they likewise may share similar thoughts and perspectives in life.

Passion. What are you passionate about? Was there a time when you encountered another individual sharing the same passion as yours?

What happened? Chances are that you immediately liked the other person, right? Once you identify a prospect’s passion that is similar to yours, focus your conversation along that topic. And soon, you’ll find yourselves engaged in a passionate discussion about what you both are passionate about. And that’s a good way to start a long-term business relationship.

Background. One tends to favor those who came from the same background—the person from the same school, similar childhood experience, parallel financial stand-

been in need of more cars to lease because of the big demand,” he said, while attributing their brisk business to social media. “It’s really strong, specially these BER months. We already have reservations for weekly, 50 days, and monthly [rentals].”

Renters are mostly families who need cars for out-of-town travel, as well as long-term lessees for daily commute. Location-wise, the top three locations with high requirements of automobile for lease are the NCR (including Cavite and Laguna), Baguio, and Batangas, respectively.

According to Sales, they aim to sign up at least 300 cars for rent in every location to meet the rising demand. He said: “In the future, if WeRide already has its own fleet of cars, we could spread further all over the Philippines.”

Apart from car rental, the app will soon offer a pet transport service.

What’s more, it will have its own co-operative, wherein operators and non-operators can invest in to earn a guaranteed income of 2 percent per month from their membership fee of P5,000, plus an annual dividend.

“Another plan is to continuously improve the security and the interface of the app. We are now integrating more features like for security there will be a facial recognition.

This is to ensure customer loyalty and sustain our leadership amid competition in the near future,” the owner stressed. Roderick L. Abad

ing, comparable educational background, and so on. That’s because we can identify with people of the same experiences, struggles and challenges in life. Somehow, we feel that we can relate with them the most, and vice versa.

Values. People with similar values and principles in life gravitate towards one another. When you genuinely stand for a certain cause or belief system, the tendency is to associate with another who firmly holds the same set of values and principles. This is usually where alliances are formed. The key is to find out what interests the other person and try to match these with one of your personas. And you will soon discover the spark that will start a fruitful business relationship. That’s how you become a people-magnet. But please, beware of being a phony. People can tell and if you’re not sincere, it will eventually backfire on you.

Alexey Rola Cajilig is the President of ARCWAY Consultancy Inc. and Executive Director of ARC DOCENDI. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of The effective Seller. He is also the creator of ARCH Styles, a behavioral and personality assessment tool. If you have questions and suggestions, you may send an e-mail to salesleadershipcoachlex@gmail.com.

B4

Banking&Finance

Wednesday, December 6, 2023 • Editor: Dennis D. Estopace

BusinessMirror

www.news.businessmirror@gmail.com

Asean region seen nearing end of monetary-tightening regime T

T

By Cai U. Ordinario

@caiordinario

HE Association of Southeast Asian Nations (Asean) region may be approaching the end of its monetary tightening cycle despite expectations that commodity prices will remain elevated, according to the Asean+3 Macroeconomic Research Office (AMRO).

In the Asean+3 Financial Stability Report (AFSR 2023), the AMRO said the slowdown in inflation indicates across the region may already signal the start of efforts to ease monetary policy.

The AMRO also said there are also market expectations that the United States Federal Reserve is expected to stay on hold in the next few months.

“The pace of policy tightening has generally eased in the region in 2023 compared with 2022, reflecting a deceleration in inflation led by the decline in global fuel and food prices. Market pricing implies that the monetary policy tightening cycle is approaching its end in the US and in most economies in the region,” the report stated.

The AMRO said the Bangko Sentral ng Pilipinas (BSP) is expected to

ease monetary policy in the next 12 months while the Bank of Thailand is expected to “hold over” during the period.

The expectations for the Philippines, the AMRO said, is based on the moderation in the second quarter of the country’s gross domestic product (GDP) growth, which was lower than market estimates.

However, the AMRO said this does not mean that the fight against inflation is not over. Commodity prices are expected to remain elevated on the back of the “tight labor market and the lagged effects of high inflation.”

This could lead to an increase in wages that would eventually find its way into the Consumer Price Index as wage hikes are inflationary.

“It is still too early to claim victory

over inflation in the region. Upside risks to inflation remain,” the report stated. “The recent uptick in commodity prices poses another risk that could keep inflation high for longer.”

The recent uptick in inflation was due to higher crude oil and copper prices as well as more expensive rice due to the export ban imposed

by India.

Oil prices increased on the back of supply side factors such as geopolitical tensions while rice prices also increased due to weather conditions that constrained supplies.

“A continued resurgence cannot be ruled out as speculative net long positions are building (or net short positions are reducing) in some of these commodities,” the AMRO said.

Meanwhile, the AMRO said among the risks faced by the region, the potential resurgence of inflation is perhaps the one risk that has raised the greatest concern because of its implication for even higher and more prolonged interest rates and their impact on the economies and financial systems.

The AMRO said financial market volatility may spike as it adjusts to the new normal of a “higher-forlonger” interest rate environment with receding liquidity.

Further, lingering concerns involve potential spillovers to regional economies during stress episodes, due to the existing vulnerabilities in the US banking sector, where key

The battle for billions in barangay funds

I

T was US Congress Speaker Tim O’Neill who first famously said “that all politics is local.” One meaning in the Philippines of that statement is that all nationally elected politicians depend on the barangay leaders to get themselves elected.

Theoretically, as the family is also the basic unit of society, barangays also form the most basic structure of government, the smallest entity.

Unfortunately, like in their bigger political structural counterparts, most barangay elections here are characterized by vote buying, intimidation and cheating. Why? The fighting and the enmity are intense at the barangay level since all the electorate know one another so well, many of them blood relatives or related by affinity. But what for, really, is this intense animosity for?

Let’s start with the barangay budget.

Unlike before, when barangays were at the mercy of the town kingpins for fund allocation for socio economic projects, today the law mandates that 20 percent of all national taxes should be given to barangays, automatically.

Further, the Supreme Court had earlier ruled that henceforth the national allocation for barangays will not only include internal revenue taxes but all taxes to include franchise fees and customs duties. The budget “to die for” in the barangays, therefore, has, by and large, been at the crux of the matter.

In 2021, for instance, 20 percent of the National Tax Allotment was a whopping P139 billion to be shared

Finex free enterprise Zoilo ‘Bingo’ Dejaresco III by only 41,939 barangays. The rest of the 23 percent goes to the 82 provinces and 126 cities and 34 percent to the 1,488 municipalities in the country.

People in Metro Manila may be shocked why a lowly barangay councilman, for example, would spend P1,000 per voter in a constituency of 5,000 people, which translates into P5.0 million when his salary is a lowly P25,000 per month or P300,000 a year, or less than a million for one term of three years (gross of taxes).

The answer to the million-dollar question often lies in the “fruits of corruption” that will follow in the implementation of the projects accorded under the P139-billion kitty for barangay spending. Let’s face it: the graft at the barangay level is just a microcosm of what goes on in the town, congressional, provincial and national levels with some exceptions.

So, wonder not why Philippine elections even at the barangay level could be one of the most expensive in the world, bar few. There is so much vote-buying. Taking advantage of the poverty of the people—at 20 percent or 2 of every 10 is below the poverty line threshold.

Vote buying results consequently

into projects which are overpriced or done with inferior materials leading to substandard infrastructure and buildings and services since the politicians have to not just recoup their “election expenses” and prepare for the next polls but also to have a “return on their investment.”

Verily, political positions often offer the most lucrative compensation—legal and, mostly, illegal ones.

Politics is big business.

‘No vote buying’ crusaders

AWARE of this perennial vicious cycle, one priest in Manga district in the city of Tagbilaran of Bohol, (a native of the same district) used the pulpit in the last barangay polls to expound on the ills of vote buying and challenged all candidates to sign an agreement not to ever engage in vote buying and, thereby, reduce the cost of getting elected— and, therefore, lower the threshold for graft so as to recoup their “poll investment.”

The priest, Fr. Gerardo ”Jingboy” F. Saco, also asked his parishioners to surrender to him all sample ballots with an attached bribed money and the church will reimburse such bribe money. Not only that, but the sample ballots will also be posted in the church bulletin so people will know who the vote-buyers in their locality are.

Throughout the last week of the poll campaign, the priest went around the locality with his bullhorn reminding all against about their agreement to end all vote buying.

banking sector stocks have lost more than 10 percent of their value since the US regional banking stress in March 2023.

Despite ample US dollar liquidity globally, US dollar stress may emerge if investor confidence falters amid tighter global monetary policy and heightened market volatility.

“Furthermore, accelerated crossborder capital flows, driven by greater financial market integration and digitalization, can rapidly transmit shocks, creating new challenges for policymakers,” AMRO Chief Economist Hoe Ee Khor said.

Thematic studies in AFSR 2023 provide an in-depth analysis of financial stability risks from elevated debt levels in Asean+3, which reached 300 percent of the region’s GDP at the end of 2022.

The low-for-long interest rate environment that existed before the recent global rise in inflation facilitated substantial debt accumulation by businesses, households, and governments.

The AMRO said monetary and fiscal stimulus measures implemented during the pandemic further contributed to the rise in debtto-GDP ratios.

The increased debt stocks and rising debt servicing costs in the current high interest rate environment have increased risks to financial stability, especially as pandemic support measures have been or are still being phased out.

Fr. Saco succeeded in the sense that there was no single vote buying during the election although sadly 40 percent of the voters did not bother to vote anymore to express their disappointment that they did not receive their usual “inangayan”—or bribe money from both sides of the political fence as they were used to in the last.

Jagna, Bohol, Mayor Joseph A. Rañola, in cooperation with the Catholic Church and civic minded citizens, launched a “no to votebuying” slogan. They mayor even reportedly returned wholesale vote buying money from higher officials to influence their poll decision at the barangay level.

For the first time, Jagna had no vote buying in their elections.

The two cases above showcase, therefore, that no matter how ingrained in the system the age-old symbiotic relationship is -between vote buying and graft, a strongly resolved citizenry headed by their spiritual and political leadership can turn the tide and win the day for democracy.

If we consider elections as the bedrock of our democracy, the example of the two above are worth emulating and replicating nationwide.

Zoilo P. Dejaresco III, a former banker, is a financial consultant, media practitioner and author.

He is a Life and Media member of the Financial Executives Institute of the Philippines (Finex). His views here are personal and do not necessarily reflect those of Finex and the BusinessMirror. E-mail: Dejarescobingo@yahoo.com.

Young workers prompted SCB’s PHL center location

HE country’s young workforce and strategic location in the region made Standard Chartered Bank (SCB) decide the Philippines is the best location to set up its wholly-owned subsidiary, Standard Chartered Group Services Manila Inc. (SCGS Manila).

SCGS Manila will join SCB’s network of Global Business Services (GBS) centers in China, India, Malaysia and Poland. SCGS Manila is expected to be fully operational in 2024.

This network manages complex, large scale, cross-border activities including technology and finance services, cyber security and banking operations.

“It underpins the bank’s deep commitment to the Philippines as the oldest international bank in the country. It is likewise a testament to the world-class Filipino talent pool and capabilities, which we will continue to invest in, to deliver best-in-class services to our clients, as we have over the last 151 years,” SCB Philippines CEO Mike Samson said.

According to the lender, the SCGS provides the following services to businesses globally: technology; software and system development; technology support services; banking operations; finance; human resource; risk; audit; compliance; and, legal and professional.

The SCB said the setup is in line with its intent to provide a “center of excellence that serves as an alternative cost-effective solution to its businesses, operations, functions and technology.”

SCB Central Operations and Global Business Services Global Head Matthew Norris the lender “continues to look for opportunities to expand our operations to support our clients, businesses globally and our shared services operations in Asia – to ensure we have a fit for purpose, cost effective workforce to support the bank’s strategy.”

“As such, our decision to establish a center in the Philippines further strengthens our strategic agenda and enable us to better support our clients and businesses in our markets,” Norris added.

Based on the 2020 Census of Population and Housing (2020 CPH), the Philippines had a total population of 109.035 million persons.

Of this total, data from the Philippine Statistics Authority (PSA) showed the country’s household population comprised 99.7 percent or 108,667,043 persons.

PSA data also showed that in terms of age group, 33.4 million or 30.7 percent of the total were under 15 years of age or young dependents.

Persons aged 15 to 64 years (working-age or economically-active population) totaled 69.4 million or 63.9 percent, while those in age groups 65 years and over (old dependents) comprised the remaining 5.86 million or 5.4 percent of the total.

In 2015, persons aged 0 to 14 years, 15 to 64 years and 65 years and over accounted for 32.0, 63.3 and 4.8 percent, respectively, of the household population.

Cai U. Ordinario

SEC: Trade City-Mall ops similar to Ponzi scheme

By VG Cabuag

@villygc

T

HE Securities and Exchange Commission (SEC) has warned against investing on Trade City-Mall, which uses an online platform for its supposed online job offer but its operation is akin to Ponzi scheme.

The SEC said the company was using the tasking and recharging scheme, in which it entices the public into opening an account for an online job.

Once this was completed, the public is asked to communicate with Rebeka Clarah, an assistant manager of Trade City Mall, for the gathering of personal information.

“For a certain amount of money, the public is asked to perform a “Level 1” or “VIP 1” task and required to grab three orders in their platform for a promise of receiving monetary rewards or what they call ‘commission,’” the regulator said.

Once the “VIP 1” task is completed and upon withdrawal of the monetary reward, the investor is asked to recharge and upgrade his level into “VIP 2” where the investor will be required to perform another task. The latter includes “grabbing” five orders for a promise of earning commission equivalent to 30 percent per order. A “VIP 3” level, meanwhile, promises a return after completing seven orders but with a higher recharge amount.

“Lastly, after the accomplishment of all the assigned tasks, the investor

will be informed that in order to collect the promised amount of commissions, a certain amount of tax must be paid,” the SEC said.

The Regulator said the company is presenting a fake certificate of registration, as a way of enticing the public to invest in them.

The SEC said Trade City-Mall is not authorized to solicit investments from the public as these entities did not secure prior registration and license to solicit investment from the agency.

Its tasking and recharging scheme involves the offering and sale of securities in the form of investment contracts, as there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others, the SEC said.

The regulator added that Trade City-Mall’s operation has the characteristics of a Ponzi scheme where moneys from new investors are used in paying fake profits to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.

“The public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of Trade City-Mall. The public is further advised not to invest or to stop investing in the investment scheme being offered by the subject entities or its representatives,” the SEC said.

Investors abandon high-yield positions as Nov. inflation signals further easing

By Jasper Emmanuel Y. Arcalas @jearcalas

E

ASING inflation rate forced investors to further lower their asking yield, allowing the national government to fully raise P20 billion from Tuesday’s auction of Treasury bonds (T-bonds).

The Bureau of the Treasury (BTr) made a full award for its Tuesday tender of 10-year T-bonds as yields stood at 6.224 percent, the lowest in five months.

The rates for the government se-

curities ranged between 6.15 percent to 6.244 percent.

The Philippine Statistics Authority (PSA) reported on Tuesday that the country’s inflation rate in November slowed to 4.1 percent.

Rizal Commercial Banking Corp.

(RCBC) Chief Economist Michael L. Ricafort explained that the T-bonds average rate matched the comparable secondary market benchmark level.

Ricafort pointed out that the yields have dropped to “new” fivemonth lows already.

“The 10-year T-bond auction yield

also eased amid relatively higher total bids/demand: P40.651 billion, more than twice the total offering of P20 billion, which was fully awarded,” he said.

“The said yield is much lower by -0.557 [basis points] compared to 6.781 [percent] during the previous 10-year T-bond auction on November 14, 2023 or exactly three weeks ago; as the comparable benchmark 10-year US Treasury yield also eased recently, now at 4.24 percent, among 2.5-month lows and already down by -0.78 [basis points] from

the immediate high of 5.02 [percent] posted on October 23, 2023,” he added.

Analysts have also attributed the easing T-bonds yields to the continuous decline of global oil prices as well as market expectations of a rate cut by the Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) in the near term.

However, the Bank of the Philippine Islands (BPI) said that “local bond yields may stay elevated as the BSP continues to fight inflation, although the recent decision of the

Federal Reserve to maintain its rates may offset this.”

BPI’s view echoes that of the Asian Development Bank’s that last month linked the hawkish stance of the BSP to a 30-basis point increase in the 2-year government bond yields and 35 bps for the 10-year bond yields.

(See https://businessmirror.com. ph/2023/11/28/bond-yields-tiedto-high-interest-tack-adb/) The Treasury’s T-bonds auction last Tuesday is the bureau’s second for the month and the first for longterm T-bonds.

On Monday, the Treasury kickstarted its December borrowing program with a mixed award, raising nearly P9.7 billion from the sale of Treasury bills (T-bills) on the back of an upsized 91-day Tbills award.

For December, the Treasury plans to raise P100 billion from the tender of Republic promissory notes. The Treasury will hold two auctions of T-bills this month each with P10 billion offering and two tenders of T-bonds each with P20 billion programmed amount.

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos • Wednesday, December 6, 2023

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PHOTO BY PROXYCLICK VISITOR MANAGEMENT SYSTEM ON UNSPLASH

World-leading fitness equipment company in new PHL location

OPENING its brand-new space in Manila, Technogym can now be found at Twenty-Five Seven Mckinley Building, 25th Street, in the heart of Taguig. The space spreads across over 160 sqm designed to offer a real wellness lifestyle experience to consumers, allowing people to discover the best products, technologies and services for physical exercise at home.

The store also has access to experienced personal trainers and interior designers for bespoke home-gym projects and personalized consultations.

Technogym is the world’s leading wellness company with its innovative Italian design, cutting-edge technology, high quality, and easy-to-use products that are seen and experienced in the most desirable gyms, private members’ clubs, leading hotels and exclusive homes across the globe.

The brand is the preferred choice of the world’s leading athletes and sport teams, as well as being the Official Supplier of the Olympic Games, including the upcoming Paris 2024 edition.

The brand also boasts ongoing collaborations with acclaimed Archistar designers like Antonio Citterio. At the heart of the brand lies in its unique concept of wellness— Technogym’s lifestyle is committed to promoting regular exercise, balanced diet and positive mental approach which translate into everything the company does from products to digital fitness services to interior design.

Whether the goal is athletic training—like running, cycling or triathlon prep, to losing weight, health and prevention, or simply to stay fit and have fun—Technogym is the one and only brand able to offer Precision Training, a fully personalized training experience based on individual needs, passions and aspirations. Technogym’s offering features a curated selection of connected smart equipment, digital services and on-demand training programs for every need.

For design lovers, the Personal Line combines acclaimed designer Antonio Citterio’s style with Technogym’s experience in fitness and wellness technologies. The line features a complete range of cardio equipment from the more traditional treadmill, bike and elliptical to the iconic Kinesis product— Technogym’s exclusive solution to improve strength, balance and flexibility.

For those who want to improve performance, Technogym has created Technogym Run, the only treadmill for both cardio and power offering a wide variety of on-demand workout modes and programs; and Technogym Ride, the first bike designed by cycling champions for indoor cycling training, at home and in the gym. With a 22-inch screen for an immersive indoor experience, and easy installation and configuration with a single log-in, Technogym Ride allows users to conveniently access your favorite apps and training content.

For those who have limited space available, MyRun is Technogym’s ‘smart’ treadmill that is compact, minimal and easy-to-use. MyRun offers an incredible selection of training content by simply connecting the device to a tablet or Technogym Bench, the ultimate solution for home functional training that has been designed to combine maximum exercise variety with minimum footprint. The newest product added to the portfolio enables you to perform the largest range of exercises for resistance, strength, and core training in a very limited space.

Keeping it professional

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OW do you keep boundaries in the workplace when there are different generations with various work and relational styles? Different generations in the workplace mean differences in the way people work and relate to one another. As a leader, your primary goal is to unify these differences in order to achieve the team’s goals. And one way you can do this is by setting clear boundaries in how your team works and behaves.

Boundaries help a leader avoid misunderstandings and resentments by making their team understand that in a work relationship, there are certain things you cannot do. You know that your team has boundary issues when they talk about you excessively behind your back, they complain of other team members not pulling their own weight, or when members complain that you do not acknowledge their contributions to the team. When clear boundaries are not set, the team is rife with confusion and competition.

Simply put, boundaries are the attitudes and behaviors that are acceptable in the workplace. I used to have a manager who made us understand that during free times, we could treat each other like friends, but during work she made sure that we understood that it was work. She had a way of making us feel that there was nothing personal about her comments about our work because she pointed out

what was wrong, but she also gave feedback on how it can be improved. Conversely, I have also worked with a manager who bantered and was very familiar with some team members to the point that he could not reprimand his favorites when they made mistakes.

To set clear boundaries, you need to have the courage to be disliked. You have to accept that leadership is not about being liked but getting the job done. At the end of the day, you will be accountable for the output of your team. But this also does not mean that you should be a slave driver and mindlessly dole out tasks. Leadership is about balancing work requirements with your team’s well-being. And when we talk about well-being, this includes other aspects of their lives. When you know your team well, you can adeptly manage their work requirements against whatever personal demands they must meet.

If you want your team to work and behave in a certain way, it has to start with you. As the primary culture builder of your team, you embody what is acceptable behavior in the workplace. If you do not make your team understand what acceptable work ethic and behavior are, they will act and behave the way they want to regardless of what other people do or say. You can set the tone for the team by acting and behaving the way you want them to behave.

Your boundaries will also show in the way you assign tasks and workloads. Favoritism is detrimental to any team as it erodes the mutual trust and respect that are inherent in well-functioning teams. It goes without saying that as a leader, you should not play favorites. When more tasks are given to some team members than others, it sends a signal to others that in order to advance in their careers, they need to curry favor.

Once you set your own boundaries, learn to appreciate and respect other people’s boundaries.

There are some things you should not ask from your team, especially those that are too personal.

Respect your teams’ privacy especially when they are hesitant to share personal details. You should also

not take it against them when they choose to remain private, especially when they perform their work excellently. When their performance declines, you may try probing, but you need to stop when they feel uncomfortable about sharing personal information.

In the same manner, once they entrust to you their personal details, do not use it against them in any way. Repay the trust by helping them become a better person.

Identify your team’s work styles and maximize people’s motivations to the team’s advantage. Instead of taking it against people for being driven or knowing more than you do, capitalize on their skills and experience to move the team’s tools and processes forward. A lot of leaders are insecure of team members who are excellent at what they do. Instead of maximizing their team’s skills and abilities, they limit their team’s growth by their own insecurities.

As a leader, you need to know enough about the technicalities of your team’s work, but you should also develop the requisite competencies to unify your team’s collective talents towards your team’s goals.

If you see team members as threats to your position, you are doing a disservice to yourself, to your team, and ultimately to the organization. As a leader, your ultimate goal is to help maximize their potential, not stifle their growth.

In the end, it will all depend on the culture that you nurtured in your team and how the different relational styles in your team interact with each other.

How you interact with your team will indicate the kind of team members you want them to be. If certain people are having difficulty acclimatizing to the team’s culture, your role is to identify what is stopping them, and to find ways to make it easier to work with their colleagues. Keeping it professional means that your team knows what is expected of them, which in turn translates to how they behave and how they work. When everyone treats each other with respect, you develop an environment conducive for everyone in the team to be effective. n

Online ‘likes’ for toxic social media posts prompt more—and more hateful—messages

By Joseph B. Walther University of California, Santa Barbara THE rampant increase of hate messages on social media is a scourge in today’s technology-infused society. Racism, homophobia, xenophobia and even personal attacks on people who have the audacity to disagree with someone else’s political opinion—these and other forms of online hate present an ugly side of humanity.

The derision on social media appears in vile and profane terms for all to see. Obviously, the sole purpose of posting online hate is to harass and harm one’s victims, right?

Not necessarily, according to recent studies about hate messaging in social media.

Although seeing hate comments is unquestionably upsetting, new research suggests there’s a different reason people post hate: to get attention and garner social approval from like-minded social media users.

It’s a social activity. It’s exhilarating to be the nastiest or snarkiest and to get lots of thumbs-ups or hearts.

Anecdotal evidence makes a good case for the social basis of online hate, and new empirical research backs it up.

In over 30 years of research about online interaction, I’ve documented how people make friends and form relationships online. It now appears that the same dynamics that can make some online relationships intensely positive can also fuel friendly feelings among those who join together online in

expressing enmity toward identity groups and individual targets. It’s a “hate party,” more or less.

Online hate is a social phenomenon

WHEN you look at online hate messages, you start to notice clues that suggest, more often than not, that hatemongers are posting messages to each other, not to those their messages implicate and denigrate.

For instance, white supremacists and neo-Nazis often include codes and symbols that have shared meaning for the in-group but are opaque to outsiders, including the very people that their messages vilify.

Including “88” in one’s message, hashtag or handle is one such code; the Anti-Defamation League’s lexicon of hate symbols explains that the 8th letter of the alphabet is H. And 88, therefore, is HH, or Heil Hitler.

Another clue that hate is for haters is the way it has shifted somewhat from mainstream social media to fringe sites that have gotten so hateful and disturbing that it’s hard to imagine any member of a targeted group wanting to peruse those spaces. The fringe sites say they promote unfettered free speech online. But in doing so, they attract users who write posts that are widely unacceptable and wouldn’t last a minute on mainstream sites with community standards and content moderation.

The kinds of messages that would quickly be flagged as hate speech in any offline setting come to dominate the threads and discussions in some of these spaces. Users curate meme repositories—for instance, the anti-Jewish, anti-LGBTQ and “new

(n-word)” collections—that are hideous to most people but funny to those who partake in these secluded virtual backrooms. They’re not spaces where the targets of these epithets are likely to wander.

Ganging up builds community

FURTHER research lends credence to the hypothesis that haters are in it for social approval from one another. Internet researchers Gianluca Stringhini, Jeremy Blackburn and their colleagues have been tracking what they call cross-platform “raids” for a decade.

Here’s how it works. A user on one platform recruits other users to target and harass someone on another platform—the creator of a specific video over on YouTube, for instance. The originator’s post contains a link to the YouTube video and a description of some race or gender issue to prey on, instilling the urge to act among prospective accomplices. Followers head to YouTube and pile on, filling the comments section with hate messages.

The attack looks like its purpose is to antagonize a victim rather than building ties among the antagonists. And, of course, the effects on the targeted person can be devastating.

But backstage, the attackers circle back to the platform where the plot was organized. They boast to one another about what they did. They post screen grabs from the YouTube page to show off their denigrating deeds. They congratulate each other.

It was for getting attention and approval after all,

consistent with the social approval theory of online hate.

Social approval eggs users on to greater extremes

MORE direct evidence of the effect of social approval on hate messaging is also emerging. Online behavior researcher Yotam Shmargad and his collaborators have studied newspapers’ online discussion websites.

When people get “upvotes” on antisocial comments they’ve posted, they become more likely to post additional antisocial comments. A recent study by my colleagues Julie Jiang, Luca Luceri and Emilio Ferrara looked at users of X, the platform formerly known as Twitter, and what happened when they received signs of social approval to their xenophobic tweets. When posters’ toxic tweets got an unusually high number of “likes” from other users, their subsequent messages were even more toxic. The more their messages were retweeted by others, the more posters doubled down with more extreme hate.

These findings do nothing to diminish the real hurt and anger that justifiably arise when people see themselves or their identity groups disparaged online.

The social approval theory of online hate doesn’t explain how people come to hate others or become bigoted in the first place. It does provide a new account for the expression of hate on social media, though, and how social gratifications encourage the ebb and flow of this problematic practice.

THE CONVERSATION

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Wednesday, December 6, 2023

www.businessmirror.com.ph

PLDT GLOBAL ENHANCES COOPERATION WITH OWWA FOR OFW WELFARE, EMPOWERMENT

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OMMITTED to forging meaningful connections for Filipinos worldwide, PLDT Global Corporation (PLDT Global), the international arm of the Philippines’ largest integrated telco, PLDT Inc. (PLDT), is cultivating a collaboration with the Overseas Workers Welfare Administration (OWWA) to empower and advocate for the welfare of overseas Filipino workers (OFWs).

“Now more than ever, we witness the profound impact of technology and digital services on Filipinos’ quality of life. Our innovations bring convenience, comfort, productivity, and security, aligning with the government’s digitalization agenda. As a founding member under the Digital Infrastructure pillar of PSAC (Private Sector Advisory Council), we strive to strengthen private-public sector synergies. We stand ready to support initiatives improving the lives of Filipinos worldwide,” stated PLDT

and Smart President and CEO Alfredo S. Panlilio.

This collaboration enables PLDT Global to serve as OWWA’s partner in providing services to OFWs through access to OWWA Hotline 1348 and digital services on TINBO (Tindahan ni Bossing).

Powered by PLDT Global, TINBO is the one-stop marketplace that enables Filipinos around the world to buy load, send food gift vouchers, healthcare PINs from mWell, and even gaming PINs for their families in the Philippines. They can acquire a Smart virtual number (SVN) through TINBO, enabling them to receive OTPs from their e-wallets and e-banks in the Philippines like Maya.

TINBO also provides access for a convenient and secure online bills payment from abroad to their Philippine utilities, send egifts, medicines, and other digital services while outside the Philippines.

PLDT Global and OWWA are exploring

programs to help OFWs reintegrate into the community and enhance their income through livelihood opportunities, upskilling sessions, grants, and other initiatives to improve their quality of life upon their return home.

“We at PLDT Global understand the challenges our fellow Filipinos overseas are facing. This partnership with OWWA is crucial, allowing us to expand our reach to more global Filipinos and raise awareness about the digital services available through the TINBO platform, ultimately assisting them in caring for their families back home,” emphasized PLDT Global President and CEO Albert V. Villa-Real.

Following his meeting with PLDT officials, OWWA Administrator Arnell Ignacio expressed optimism about the partnership with PLDT. “We have millions of OFWs worldwide and with our collaboration with the PLDT Group, we can now expand and enhance our Hotline 1348, among many other projects geared towards serving our overseas countrymen.”

PLDT remains actively engaged in supporting government-backed digitalization initiatives like GoDigital Pilipinas (GDP), a movement under PSAC, aiming to narrow the digital divide through digital literacy and build a sustainable digital ecosystem.

Moreover, PLDT continues to boost government initiatives to make services more accessible through apps like the eGovPH Super App, offering local and national services, LGU services, healthcare assistance, and e-payments, among other functions.

DLSU welcomes Yuletide season with Animo Christmas! 2023

D

E La Salle University ushered in the Yuletide season with Animo Christmas! 2023, a series of activities centered on the theme “Pagmamahalan, Handog sa Kapaskuhan.”

DLSU’s celebrations kicked-off on December 1 with a Holy Mass at the Henry Sy, Sr. Hall Grounds at 4 pm, followed by a program and lighting of the Animo Christmas! Tree adorned with colorful parols. Members of the community can enter the hall grounds where the 16-meter tall tree is located and have their photos taken inside.

For the first time, an animatronic Belen display is featured beside the giant Christmas tree.

The iconic St. La Salle Hall became the

backdrop of a light and sound show. The award-winning De La Salle University Chorale and other culture and arts groups also performed during the opening night.

In his message to the Lasallian community, DLSU President Br. Bernard Oca FSC expressed appreciation for the Lasallian community, noting how members celebrate the season: “with thanksgiving for the community that we have built, the accomplishments we have achieved, and the support that we all share with one another.”

In conjunction with the celebrations, a Christmas bazaar is also being held where proceeds will be given to the beneficiaries of the University Student Government.

Dive into the Vibrant World of Fiesta with Ginebra San Miguel’s 2024 Calendar Girl

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VERY year, the world’s best-selling gin selects a Calendar Girl who embodies the spirit of the brand. For 2024, Heaven Peralejo is unveiled as Ginebra San Miguel’s Calendar Girl during a festive media launch at The Westin Manila, Mandaluyong City.

Best known for her acting in the movie “Nananahimik ang Gabi,” which awarded her the Philippines Best Actress award from the Asian Academy Creative Awards, as well as starring in the youth series “The Rain in España,” Heaven shared that it is a dream come true for her to endorse an iconic brand, Ginebra San Miguel.

“It’s such a beautiful milestone of my life to be part of Ginebra. When I was 18 years old, gin bilog with pineapple juice was my first drink.

It’s a dream come true, my first drink is also my first big endorsement,” she said.

With the theme “Philippine Fiesta,” the 2024 edition of the Ginebra San Miguel Calendar showcases Heaven in six vibrant fiesta layouts (Panagbenga, Lantern, Higantes, Pintados, Kadayawan, and Masskara), embodying the vibrant spirit of Philippine Fiestas.

GSMI Marketing Manager Ron Molina said that the 2024 Ginebra calendar serves as a symbolic expression of optimism, unity, and the resounding belief that brighter days are ahead.

“Looking forward to 2024, we, at Ginebra, envision a year where the echoes of the pandemic are a distant memory. And the best way to move forward is to embrace a future filled with all-out celebrations, reminiscent of the joyous fiestas that define our culture,” he said.

GSMI Group Product Manager Paolo Jose Tupaz described Heaven as a captivating and talented

MATRIARCH TESS LAUS (left) and the beneficiaries from the Children’s Joy Foundation strike a pose in front of a lighting installation at the LausGroup Events Complex.

LausGroup brings the magic of Christmas to children, supports Pampanga-based artists with holiday ceremony

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HE Christmas spirit is in the air as Pampangabased conglomerate LausGroup of Companies (LGC) conducted a lights-on ceremony last October 6, 2023 at the LausGroup Complex in Pampanga.

Staying true to its mission in pushing for inclu-

sive countryside development, the LGC community reached out and celebrated with the Children’s Joy Foundation, a non-profit organization dedicated to helping and protecting children through residential and community-based support programs to achieve their dreams.

actress who perfectly captures the Ginebra San Miguel attributes and the essence of the Philippine Fiesta. “Heaven’s authenticity, perseverance, courage, and zest in life embodies the spirit of Ginebra and reflects the beauty, grace, and dynamism of the Filipino culture,” he added.

Next year’s calendar showcases the beauty and diversity of Filipino culture, with stunning visuals inspired by the colorful and festive celebrations that take place across the archipelago. Heaven described Ginebra as a staple in every Filipino’s drinking occasion, particularly during fiestas. “The celebration of Filipinos won’t be complete without Ginebra,” Heaven said.

As the next face of Ginebra San Miguel, she shared that the Heaven the public would see in the layouts would show her positive perspective on life—on being resilient and outgoing and on enjoying and loving life.

The much-anticipated 2024 GSM calendar serves as a celebration of Filipino pride and heritage. Beyond its artistic showcase, the calendar holds a dual significance as Ginebra San Miguel commemorates its 190th anniversary. This milestone marks nearly two centuries of crafting iconic moments and flavors that have become an integral part of Filipino festivities.

This edition of the Ginebra San Miguel calendar also features a QR code that consumers can scan using their smartphones to see Heaven’s calendars come to life, showing behind-thescenes videos of her calendar girl photoshoots and a special message to her fans and followers.

Smiles were all around as the kids from the Children’s Joy Foundation were treated to an exclusive ride around LGC’s Peugeot dealership, accompanied by the group’s Vice President and Executive Director, Carisa A. Laus. The children also excitedly received their advance Christmas presents from CEO and Chairman Lisset LausVelasco and the rest of the Laus family.

In addition to kicking off the holiday season, Laus-Velasco sees the Lights On Ceremony’s return as an example of the LausGroup’s longstanding commitment to the local community, collaborating with David Mallari Lantern Makers, Pampanga-based artisans who designed the event Christmas tree, and the array of traditional Pampanga parols adorned in Olympic colors to recognize athletes who uphold the nation’s honor and promote good sportsmanship.

“As we prepare to celebrate another Christmas here in Pampanga, let us make sure to always share our vibrant culture and traditions to everyone, especially our children. The LGC is one with the community in championing our culture and talent to the rest of the country. Let us all work together to create a better, more promising future for Pampanga.” Laus-Velasco said.

USAPANG Exports goes to Cebu with In-line Forwarder and other government agencies to boost export capability of MSMEs PHOTO COURTESY OF DTI REGION 7/CENTRAL VISAYAS

In-line Forwarder ties-up with DTI to empower exporters, preps for National Exporters Week

C

ONSISTENT with its grand vision of empowering entrepreneurs of all sizes to reach the global market, the country’s leading logistics firm Inline Forwarder engaged Cebu exporters last October for the “Usapang Exports: Unlocking Export Opportunities” organized by the Department of Trade and Industry—Export Marketing Bureau (DTI-EMB) and DTI Region 7 (Central Visayas).

Over 100 business owners and exporters, spanning key industries such as furniture, handicrafts, and agriculture, gathered at the Golden Prince Hotel in Cebu City. In-line Forwarder discussed the intricacies of logistics and brokerage solutions for export fulfillment alongside key industry experts from the Food and Drug Administration, Department of Environment and Natural ResourcesForest Management Bureau, DTI-Bureau of International Trade Relations, and Bureau of Customs.

“It is a huge honor for us to collaborate with the DTI EMB, as well as key agencies of the Philippine government to take our export sector to the next level,” says Herbert Caragay, Operations Head of In-Line Forwarder. “Helping our community of micro, small, and medium enterprises (MSMEs) across the nation through our strategic expertise in logistics is key for our exporters to navigate the evolving dynamics of global trade and supply chain.”

Usapang Exports is an official DTI-

EMB project under its Philippine Export Competitiveness Program which aims to capacitate existing and aspiring exporters through learning sessions on export opportunities, trends, cross-border regulations, and other timely topics. Oneon-one consultation sessions were also conducted in Cebu by In-line Forwarder, Department of Agriculture-Bureau of Plant and Industry, DENR, and the Philippine Exporters Confederation.

According to In-line Forwarder, they now have six offices across the country, including Cebu, and is bound to open a new warehouse in the United States for import-export facilitation and crossborder fulfillment operations.

Key preparations are also underway towards the National Exporters Week from December 4 to 7 spearheaded by the DTI-EMB, Export Development Council, and PHILEXPORT. It will be a crucial gathering of large export players, government agencies, and export enablers including In-Line Forwarder who will be part of the enablers exhibit at the Sheraton Hotel on December 7, the same day as the National Exporters Congress. The theme for this year is “Agile Philippines: Empowering Exporters towards Global Excellence.”

MSMEs can avail of In-line Forwarder’s special pricing for its export service by signing up for a free account at www.inlineforwarder.ph. They can also be contacted online via their official Facebook page at www.facebook. com/InlineForwarders

BusinessMirror

Editor: Tet Andolong

Wednesday, December 6, 2023 B7

Manila’s high-end property market price surpasses Dubai, Shanghai, Mumbai and other cities-Knight Frank

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By Rizal Raoul S. Reyes

he luxury market dominated Manila’s property sector with a price growth of 21.2 percent—the fastest across the world according to Knight Frank’s Prime Global Cities Index.

“Strong investor confidence in the Philippines during the current Ferdinand R. Marcos Jr. administration has buoyed the real estate market despite rising interest rates,” Santos Knight Frank (SKF) Chairman and CEO Rick Santos told reporters recently in the company’s Real Estate Outlook 2024 held in Makati City “Pent-up demand for prime properties, the return of the residential leasing market, and the tight supply of developments have contributed to significant price appreciation especially in central business districts,” Santos explained.

In fact, Manila even surpassed the heavyweights such as Dubai and Shanghai in terms of achieving a high growth rate. “Manila’s prime residential sector had the fastest growth across the world at 21.2 percent, overtaking Dubai, Shanghai, Mumbai, and Madrid— evidence of strong buyer appetite for luxury homes in the Philippines,” Santos pointed out.

In it’s 12-month and 6-month % change, Dubai posted 15.9 percent

and 12.3 percent respectively. According to Santos Knight Frank’s research, Manila is not the only place where investors are buying the pricey projects. It identified Pampanga, Bulacan, Cavite, Laguna, Tagaytay and Batangas as the current favorites of investors.

Among Manila’s most expensive projects are Banyan Tree Residences by TransAsia (P800,000 per sq m), Balmori Suites by Rockwell Land (P600,000 per sq m), Aurelia Residences by Shang Properties (P431,000 per sq m) and Haraya Residences by Shang Properties (P310,000 per sq m).

Amid geopolitical uncertainties in the region, the Philippines continues to attract investors from the US and East Asia—this is key to the expansion of the commercial estate sector, including BPOs, manufacturing, and retail, according to Santos.

Office: The flight to quality and better experience In his presentation, SKF senior director, occupier strategy solu-

From left: L-R: Ankur Maheshwari, Sr. Associate Director, Occupier Strategy and Solutions, Lovelle Taleon, Director of Consultancy, Rick Santos, Chairman and CEO and Morgan McGilvray, Senior Director, Occupier Strategy and Solutions.

tions Morgan Mcgilvray said the retail industry is adapting to the post pandemic environment as retailers at core and road concepts such as off-mall locations. “We are also seeing the expansion of flagship stores and the evolution of mall culture highlighted by experiential retail,” said Mcgilvray in a press briefing.

In 2023, SKF observed the significant emergence of increased consumer spending termed as “revenge spending”. This trend in retail sales comes at the heels of the proliferation of flagship stores and roadside retail, with the likes of international brands in areas such as Fort Bonifacio, Makati, and Quezon City.

Meanwhile, in an email interview, homegrown coffee shop Bo’s Cafe is bullish on its prospects in 2024 as the company is currently ramping up its efforts to heed the

market demand to open in more locations in Metro Manila and the National Capital Region, with the bulk of their growth to come from franchising franchising, with select company-owned stores in strategic locations.

Bo’s Coffee has definitely benefited from revenge spending.

“We’ve achieved over a 100 percent increase versus pre-pandemic growth, with a continued uptrend in dine-in sales,” the Cebu-based company said.

Changes in the workplace In response to the changing times, Mcgilvray pointed out that there are signs that companies now are making long-term plans about their workplace setups.

According to (Y)our Space 2023 (Knight Frank and Cresa’s survey of 350 international multi-market businesses covering 10 million

Bo’s Cafe officials (from left) Ivy Benatiro, VP-Global Franchise; Steve Benitez, Founder and CEO and Rachel Fallarme, SVP COO at their flagship store in Capitol Cebu.

employees globally), 87 percent of firms said they intend to have an office-centric model (such as office-first, office-only, or hybrid) over the next 3 years.

When asked about the role of the office, respondents cited the physical workplace’s role in productivity, organizational culture, collaboration, and employee morale.

The survey further revealed the key amenities that occupiers understand their employees will be needing in the new office environment, with food and beverage offers ranking as the most preferred service/amenity with nearly 17 percent of responses. Occupiers also see the importance of facilities supporting mental wellbeing (14.4 percent) and gym facilities (12 percent).

In the Philippines, occupiers continue to prefer quality buildings that provide good value.

Prime buildings’ vacancy rate (17 percent) continued to surpass average office buildings’ vacancy (20 percent) in Q3 2023, even when prime lease rates averaged at P1,244/sq m per month versus the market’s P 980/sqm per month.

In general, Makati City emerged with the highest lease rate in the metropolis, with a weighted average lease rate of P1,143/sq m per month. Fort Bonifacio ranked second at P1,098/sqm per month, followed by the Bay Area at P 902/ sq m per month.

“The office market has continued its road to recovery postCovid. The increased demand from conventional office tenants and flexible office operators has significantly contributed to the upswing in commercial leasing requirements. We are expecting this momentum to continue in 2024,” explained Santos.

SotoGrande Palawan is now open to welcome travelers NREA’s new officers to be

introduced at in-person business meeting on December 7

P

ristine Palawan adds another jewel to its crown.

T he v ac at ion de s t i n a tion of local and foreign travelers welcomed the opening of Sta. Lucia Land’s SotoGrande Palawan in Puerto Princesa City, a destination famed for its stunning underground river and vibrant marine life.

SotoGrande Palawan is expected to provide travelers the modern comforts of a vacation home in this tropical paradise, touted as the Philippines’ last frontier.

Palawan, regarded many times as one of the world’s most beautiful islands, has long been a favorite destination of many individuals seeking to experience its enthralling, unspoiled beauty.

This captivating island paradise is indeed a perfect showcase of Philippine tourism as it offers diverse experiences—with its mountains, stunning vistas, lush jungles, rich biodiversity, caves, pristine beaches, vibrant coral reefs, and surrounding islands, all offering a harmonious blend of natural beauty and cultural richness.

“People will continue to come to Palawan as the beauty of this place will always captivate them. Here, one will always find respite and solitude amid nature’s embrace. We’ve always believed that Palawan, with all its beauty and charm, will always be a top-of-mind destination for travelers,” said Sta. Lucia Land President Exequiel Robles.

“This is why we are again betting big on Palawan with the soft opening last Nov. 26 of our SotoGrande Hotel. We believe that with this latest addition, we will be able to cater to the diverse needs of every kind of traveler. This hotel will also be operated and overseen by our affiliated partner, Enderun,” Mr. Robles added.

SotoGrande Palawan proudly un-

T

Amid Palawan’s charming landscape is the newly opened SotoGrande Hotel Palawan, an exquisite addition to the island’s hospitality offerings.

derscores its commitment to serving a diverse clientele, particularly focusing on the corporate market and leisure groups. The hotel also showcases state-of-the-art function rooms that effortlessly blend sophistication with practicality and is committed to delivering an exceptional experience for various events and celebrations, meetings, conferences, corporate gatherings, and more.

Offering a total of 147 room keys, SotoGrande Palawan also extends its warm hospitality to individual and couple travelers, ensuring the best accommodation experience. Whether guests are there for business or leisure, the attention to detail and commitment to excellence ensure a memorable and comfortable stay.

Professionally managed and operated by Enderun Hotels, SotoGrande Palawan stands as a testament to the dedication to exceeding guest expectations at every turn.

Enderun Hotels is a hospitality management solutions provider offering a comprehensive range of services specializing in hotel management, technical services, revenue management, e-commerce services, professional training, and marketing services. Enderun Hotels meticulously craft solutions that not only meet but exceed expectations,

highlighting the distinct qualities of each property. This commitment underscores Enderun Hotels’ pursuit of elevating customer satisfaction and setting a benchmark for hospitality excellence.

“At Enderun Hotels, our unwavering commitment to service forms the foundation of our excellence.

We ensure that every moment is thoughtfully created, emphasizing the exceptional synergy that defines the hospitality experience at SotoGrande Palawan,” Mr. Librea said.

The said partnership is expected to deliver more value to its guests as the hotel will not only provide access to some of Palawan’s must-visit destinations, such as the Subterranean River National Park, crocodile farm, Plaza Cuartel, and Bakers Hill, but also accord them the most restful and convenient hotel vacation any traveler could ask for.

The soft opening started with a Mass, a blessing, a ribbon cutting ceremony, and a toast led by Sta. Lucia Land Inc.’s Vice President for Project Development Jayson Robles and Sta. Lucia Land Vice President for Finance Davies Santos.

Another event highlight was the Christmas lighting ceremony, after which guests were treated to cultural dances, band performances, and a

raffle that included an overnight stay at SotoGrande Hotel Palawan.

“Today marks the beginning of an exciting chapter ahead of us, a chapter that is filled with the commitment to unforgettable experiences, impeccable service, and boundless hospitality through SotoGrande Palawan,” the younger Robles said in his speech.

“Our goal in Sta. Lucia is to be the top-of-mind for land development through residential and commercial projects for the masses. In the 50 years we have been in the industry, I am proud to say that we have achieved just that, and we continuously exert efforts all over the country to maintain this equity,” he added.

SotoGrande Palawan, a hospitality property development, also offers units as property investments for those looking to grow their portfolio.

“We hope to spur tourism in this island paradise further as we also look forward to welcoming guests to our hotel. The addition of SotoGrande Hotel Palawan clearly indicates how much we see the tourism industry growing, and how even investors can benefit from this growth. Sta. Lucia Land is now ready to receive and pamper guests, and we aspire to give them the most relaxing vacation they truly deserve,” Mr. Robles concluded.

he National Real Estate Association (NREA) is capping off yet another productive year with an in-person business meeting on December 7, 2023, from 11 a.m. to 2 p.m. To be held at the Makati Sports Club on L.P. Leviste Street, Salcedo Village, Makati City, the upcoming event will feature important announcements and an awarding ceremony that is meant to recognize NREA’a achievements of 2023 and spur the association on a sustained path of success in the new year.

Ruth Marie C. Atienza, outgoing NREA National President, disclosed that the special guest and resource speaker will be Honorable Rafael M. Fajardo, Board Member of the Professional Regulatory Board for Real Estate Services (PRBRES). Fajardo is slated to discuss updates on the PRBRES’ programs and policies, and its mandate as a regulatory body created by the Real Estate Service Act. Also lined up for the business meeting is NREA Chairperson Imelda C. Magtoto’s introduction of the association’s officers-elect for 2024. Among them are Imelda C. Magtoto, Board Chairlady; Ruth Marie Atienza, Board Vice Chairlady; Red Rosales, National President; Ma. Lorena Sales, Executive Vice President; Jovi Francis Tupaz, VPinternal; Atty. Ador Tolentino, VP-external; Zeny Fruto, VP-chapters; Loudette Carlos, secretary general; Nicole Choa, treasurer; Jeffrey Bongat, auditor; and Christian Mulingbayan, PRO. Incoming trustees—Rodolfo Leonen (concurrently Education Chairman), Flerida Atayde, Jonathan Caro, Alma Grace Sarra, Emelina Pulido and Dave Lubong—will likewise be introduced.

NREA’s National President, Red Rosales, will deliver a short message and provide a brief preview of his plans and

NREA’s National President Red Rosales programs for 2024. The induction of NREA’s new members will also be held.

While Rosales is set to explore future strategies, a highlight of the event will delve into past achievements— NREA’s Best Chapter and Best Chapter President of 2023 will be given due recognition.

Meantime, NREA’s PRO Jeffery Bongat has announced that as part of the NREA’s community social responsibility (CSR) projects, the association will hand over its donation to the Smokey Mountain Foundation, as well as its paint donations to the Department of Education, courtesy of Davies Paints.

NREA’s business forum is fully supported by its major sponsors: Pag-IBIG Fund and Hausland Development Corporation. The NREA likewise acknowledges their year-round sponsors: the OFW Party-List; Mapecon Philippines, Inc.; Duraville Realty & Development Corporation; Davies Paint Philippines Inc.; Bria Homes Inc.; E. Ganzon Inc., and SM Development Corporation.

Finally, the business meeting on December 7 will segue into a joyful Christmas celebration for NREA members and friends, who may look forward to hours of party time with social activities, games, and the de rigueur raffle with grand prizes in store.

Sports BusinessMirror

MONTEVERDE

ROBINSON

UAAP FINALS GAME 3:

U.P. OR LA SALLE?

U

NIVERSITY of the Philippines (UP) and De La Salle clash in a no-tomorrow Game 3 for the University Athletic Association of the Philippines Season 86 men’s basketball crown Wednesday at the Smart Araneta Coliseum.

They’re practically starting from scratch as the race-to-two Finals have gone to the limit with a gargantuan crowd expected to pack the Big Dome for the 6 p.m. game. “ We know that it’s going to be hard, w inning a championship is going to be hard,” said coach Topex Robinson, whose Green A rchers found their mark w ith pinpoint accuracy in Game 2 last Sunday, 82- 60.

“Playing against the top college team in the country right now is going be hard,” he said. “But for us, we just keep on enjoying the game, the game that we love.”

He added: “The game that has been good to us and not shy away from the responsibility of the result.”

UP was honed to celebrate Sunday after its 97-67 Game 1 victory, the league’s biggest winning margin in memory in a Finals series, last Wednesday, but was halted to a screech by a vengeance-reeking Green Archers side.

“We’re going to look inside us, what we need to do,” UP coach Goldwyn Monteverde said. “What’s important is there’s this Game Three and we still have a chance.”

National University, meanwhile, goes for an eighth-straight women’s crown against University of Santo Tomas at 12 noon in Game 3 of their own series also at the Big Dome.

Monteverde and the Fighting Maroons, however, have to contend with Robinson and the Green Archers who have won all their games at the Araneta Coliseum—they won all their six games from the eliminations in the Cubao arena.

UP, too, is 1-1 in Game 3s—the Fighting Maroons beat the Ateneo Blue Eagles in ending a 36-year drought for only their second UAAP crown in Season 84, but lost to the same Katipunan neighbor last season.

The Green Archers? They’re on their ninth Game 3 appearance— the most by any team in the league—and are 3-5, losing to the Blue Eagles in their most recent Finals appearance in 2017.

GO

R

ednesday, December 6, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

berth in the Premier Volleyball League All-Filipino Conference at the Philsports Arena in Pasig City Tuesday.

Bid-rigging issue ain’t over for Tokyo 2020 T

OKYO—The bid-rigging trial around the Tokyo Olympics played out Tuesday in a Japanese courtroom—more than two years after the Games closed— with advertising giant Dentsu and five other companies facing criminal charges.

Seven individuals are also facing charges from Tokyo district prosecutors in the cases, including Koji Henmi, who oversaw the sports division at Dentsu at the time.

Executives or managementlevel officials at each of the accused companies, and Tokyo Olympic organizing committee official Yasuo Mori, have been charged with violating anti-monopoly laws.

Among the companies facing charges are Dentsu Group, Hakuhodo, Tokyu Agency and event organizer Cerespo. All deal with event organizing, sports promotion or marketing.

Dentsu has a long history of lining up sponsorships and advertising with bodies like World Athletics, headed by Sebastian Coe, and the Switzerlandbased International Olympic Committee (IOC), led by Thomas Bach.

Genta Yoshino, the lawyer for Henmi, did not deny the bid-rigging took place. Speaking in Tokyo district court, he said no bid process was ever decided upon or set up by the Tokyo

established the National Academy of Sports and has been an ardent supporter of Philippine sports.

This has led him to be recognized in the gala awards organized by the Philippine Sports Commission and the Philippine Olympic Committee (PSC-POC) Media Group.

A total of 60 young athletes from 33 sports shared the limelight in the returning awards ceremony for the finest Filipino junior and youth athletes.

Go For Gold Young Heroes Awardees Gennah Malapit of athletics (javelin throw), fencers Andrea Sayson, Alexa Larrazabal, Rex Dela Cruz,

Always, defense does it YOU miss 21 of 23 triples and what do you expect? You ought to lose.

You commit 18 turnovers against your opponent’s seven

Olympic organizing committee.

“Even if what happened gets categorized as bid-rigging, all my client did was abide by the organizing committee’s intentions, following their instructions,” Yoshino told the court, presided over by a panel of three judges.

Yoshino said his client merely did his best to make the Olympics a success. Henmi was under pressure from the IOC, which repeatedly expressed doubts about the ability of the Tokyo organizers, Yoshino added.

The organizing committee was headed at the time by Yoshiro Mori, a former Japanese prime minister who was eventually forced to resign as the head of Tokyo 2020. The CEO was Toshiro Muto, a former deputy director of the Bank of Japan.

The maximum penalty for a company convicted of bid-rigging is a fine of up to ¥500 million ($3.3 million). An individual, if found guilty, faces up to five years in prison and a fine of up to ¥5 million ($33,000).

Trials take months in Japan, sometimes years. The next session in the trial was scheduled for January 15, 2024. It’s unclear when a verdict may come.

Dentsu was a key force in landing the Olympics for Tokyo in 2013.

French prosecutors have looked into allegations that IOC members may have been bribed to vote for Tokyo.

Once the Olympics landed in

Tokyo, Dentsu became the chief marketing arm of the Games and raised a record $3.3 billion in local sponsorship. Dentsu received a commission on the sales—sales that were at least twice as large as any previous Olympics.

The reports of corruption surrounding Dentsu also forced the resignation in 2019 of Tsunekazu Takeda, the head of the Japanese Olympic Committee and an IOC member who headed Olympic marketing.

Tokyo organizers say they spent $13 billion to organize the 2020 Olympics, which were delayed a year by the Covid-19 pandemic. However, a government audit suggests the expenditure might have been twice that. At least 60 percent was public money.

The Tokyo scandal ruined the chances of the northern city of Sapporo of landing the 2030 Winter Olympics. It had been a strong favorite but was forced to withdraw. The IOC last week said it favored a French Alps bid for the 2030 Games with Salt Lake City the preferred choice for 2034.

Earlier this year French police searched the headquarters of the 2024 Paris Olympics in an investigation over contracts linked to the Games. AP

gymnast Ancilla “Charlie” Manzano, all of them medalists in the Southeast Asian Games, were recognized.

World Games champion Alyssa Kylie Mallari of muay, kickboxer Fitzchel Martine Fermato, jiu-jitsu’s Santino Luzuriaga, golfer Rianne Malixi and gymnast Karl Eldrew Yulo joined them on stage in the event also supported by MVP Sports Foundation, Smart/PLDT, CEL Logistics, JC, NLEX, Pacquiao 3-in-1 Coffee and Giligan’s with Market! Market! and Ayala Malls as venue partners.

The third edition of the awardgiving ceremony for the nation’s top junior and youth athletes across all sports likewise presented a special citation to the Youth Football League and the Davao Aguilas Football Club of grassroots sports benefactors Mike Atayde and Quezon City First District Rep. Juan Carlos “Arjo” Atayde.

AWARDEES (from left) Lucho Aguilar (wrestling), Khylem Harl Progella (volleyball), Peter Joseph Groseclose (speed skating), Bernardus Emmanuel Corpino (motor sports), Joseph Anthony Godbout (modern pentathlon) Sebastian Neil Manalac (karate), Jan Brix Ramiscal (muay), Trisha Mae Del Rosario (obstacle sports) and Alexander Gabriel Delos Santos (wushu) pose with Philippine Sports Commission commissioner Ed Hayco.

turnovers and what do you expect? You ought to lose.

Indeed, De La Salle lost. Such horrible hurts unmistakably end in misery. That was in Game One. And the Green Archers didn’t just lose. They lost so very ugly that if Taft Avenue, De La Salle’s home base, was closed to traffic the following morning in shameful mourning, it would be justified.

But the frigging green shirts are a bunch of toughies.

They aren’t second-round topnotchers—unbeaten in all eight matches, mind you—for nothing.

Yes, they lost Game One by 30 points, 97-67, on November 29 at Mall of Asia Arena in Pasay City.

It was a game that saw De La Salle miss shots in succession, including easy lay-ups, as if their goal was sealed in cement.

The team’s passing executions were being misfired repeatedly, as if a bunch of dumbasses had suddenly supplanted the usually sharp Archers.

It can be argued that the University of the Philippines (UP) did a deadly defense like never before to make life miserable for De La Salle in Game One.

Pacquiao’s MPBL preps in earnest for coming season

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Molina, HD Spikers in semis Ces Molina attacks the net on her way to scoring nine points in Cignal’s25-22, 25-11, 25-10 victory over Gerflor that nets the HD Spikers the fourth and last semifinals

Go bats for more Paris Olympics funding at Siklab Youth Awards ECOGNIZING the importance of the country’s campaign in the Paris 2024 Olympics, Senator Christopher “Bong” Go said he will help seek additional funding for Olympicsbound athletes in their preparation.

Go, chairman of the Senate Committee on Health and Sports, made the pledge during the third Siklab Youth Sports Awards on Monday night at the Market! Market!

Activity Center inside Ayala Malls in Taguig City where he was feted with the “Sports Godfather” award.

The senator authored and cosponsored Republic Act 11470, which

B8 | W

HE Maharlika Pilipinas Basketball League (MPBL) just concluded its fifth season but league officials are already looking forward to the next one.

Commissioner Kenneth Duremdes said MPBL founder Manny Pacquiao is now thinking of ways on how to maintain or even exceed the success gained in the recent season.

The MPBL intends to open its sixth season in March as Pampanga Giant Lanterns emerged as the new national champion following a 3-0 sweep of the Bacoor Strikers in the finals over the weekend.

“Senator Pacquiao called for a meeting right after the championship and while Pampanga was celebrating, we were at his house where he told us that he’s excited over the growth and success of the league,” Duremdes told Tuesday’s Philippine Sportswriters Association Forum at the conference hall of the Rizal Memorial Sports Complex.

“And he wants to plan early for the next season,” he said.

“Pampanga was a dominant force in the playoffs and emerged as the first team to sweep the finals,” said Duremdes, adding that the Lanterns are also the fifth different national champion in five seasons of the league.

Batangas was the inaugural champion followed by San Juan, Davao Occidental and Nueva Ecija.

“The MPBL is an unpredictable league, no dominant teams,” he said in the forum presented by San Miguel Corp., Philippine Sports Commission, Milo, Philippine Olympic Committee and the Philippine Amusement and Gaming Corp.

“No team has won back-to-back, but now, Pampanga’s become the barometer,” he said. “And that’s the most exciting part of the MPBL, you don’t know who’s going to be champion.”

‘Pretty Boy’ eyes national boxers as sparring mates

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DENTSU and four other companies are facing charges bordering on event organizing, sports promotion or marketing. AP

Defense always makes the impossible possible. Defense has no off-day. Defense, as pundits love to say, wins games.

Your offense can be ice-cold on certain days but, hey, never ever lose your grip on defense.

And so, where was UP’s defense in Game Two? It called-in sick?

You bet.

As a result, De La Salle, spewing fire almost game-long, countered with a vengeance-filled 82-60 win in Game Two on December 3, forcing a winner-take-all Game Three in the University Athletic Association of the Philippines men’s basketball championship.

To do that, the Archers repaired their disastrous Game One act from beyond the arc by burying triples in bunches—seven of them drilled in by Francis Escandor (3 treys) and Joshua David (4).

The Smart Araneta Coliseum will be the venue anew for the you-or-me title showdown between the two evenly matched protagonists with differing DNAs: De La Salle is craving crazy for a first title in seven seasons while UP is

By Josef Ramos

ERWIN “THE PRETTY BOY” ANCAJAS plans to spar with members of the national boxing team in preparation for his fight against Japanese Takuma Inoue early next year, his head trainer and manager Joven Jimenez said Tuesday.

“The plan so far is to train and spar with the national boxing team at the Rizal Memorial Sports Complex to enhance Jerwin’s skills more,” Jimenez said. “We have to do it this month so hopefully they will allow us. We will make a simple request about it.”

Ancajas, Jimenez, former world title challenger Jonas Sultan and Daniel Lim are back in Manila after almost a year of training and conditioning at the Knuckleheads gym in Las Vegas, Nevada.

Ancajas (34-3-2 win-loss-draw with 23 knockouts) fights World Boxing Association bantamweight champion Inoue (18-1 with four knockouts) on February 24 in Tokyo.

The fight was set last November but was called off after Inoue broke his ribs in training.

Ancajas is currently training at the Survival Gym in Magallanes, Cavite.

Association of Boxing Alliances in the Philippines (ABAP) national head coach Pat Gaspi welcomed Jimenez’s plan.

“It’s definitely good for him [Ancajas] and us, but we need to inform our ABAP bosses,” Gaspi said. “It’s really a great pleasure to help them.”

Ancajas could pick as sparring partner Tokyo Olympic silver medalist Carlo Paalam and Cambodia Southeast Asian Games gold medalists Paul Julyfer Bascon and Ian Clark Bautista, all of whom are prepping for Olympic qualifiers next year.

Pros sparring with amateurs is nothing new at ABAP. “We’ve been doing that for a long time. In fact, our Marvin Tabamo is in Baguio City sparring with Marlon Tapales,” Gaspi said.

dying to reclaim a second title in three tries after losing to ousted champion Ateneo last season.

When the horn honks at 6 p.m. today for the start of the season’s final offering, it will signal an era of collegiate basketball defined by resilience, will power and a team’s sheer ability to emerge from a wreckage when no one else would never have expected it to happen.

Animo La Salle or UP Fight?

Bring it on!

THAT’S IT I raise a glass to Bambol Tolentino for his masterpiece performance in having won for Kayla Sanchez a slot to the 2024 Paris Olympics. Bambol, the country’s Olympic chieftain, charmed his way to convincing the International Olympic Committee to waive the three-year residency, opening the door for Sanchez, who switched from Canadian to Filipino citizenship (her parents are pure-bred Filipinos from Pampanga and Baguio City), to participate in swimming competitions in the Paris Games next year. Sachez, 22, won two medals for Canada in the 2020 Tokyo Olympics.